Category: Spending


Census Bureau: One New Migrant Enters U.S. Every 40 Seconds

 

 

Populous Nations

 

 

 

” The Census Bureau calculates that one person enters the United States legally, on net, every 40 seconds.

  The Census Bureau’s U.S. and World Population Clock lists  “components of population change” on the website: “one birth every 7 seconds;” “one death every 13 seconds;” “one international migrant (net) every 40 seconds;” making for a “net gain of one person every 12 seconds.”

  The Census provides some background on the immigration debate in the United States on August 3rd, apropos of the 131st anniversary of the law banning people from immigrating to the United States if they were likely to need government assistance. “

 

The Corner

 

 

 

 

 

 

 

 

 

 

About these ads

Fed Appeals Court Panel Says Most Obamacare Subsidies Illegal

 

 

Obamacare Subsidies Illegal

 

 

 

” In a potentially crippling blow to Obamacare, a federal appeals court panel declared Tuesday that government subsidies worth billions of dollars that helped 4.7 million people buy insurance on HealthCare.gov are illegal.

  The 2-1 ruling said such subsidies can be granted only to people who bought insurance in an Obamacare exchange run by an individual state or the District of Columbia—not on the federally run exchange HealthCare.gov. The ruling relied on a close reading of the Affordable Care Act.”

 

 

 

CNBC can find no way to spin this crushing blow to Obamacare …

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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This Eye-Opening Map Shows The Reason Gas Is More Expensive In Some States Than Others

 

   This map shows why the cost of gasoline is so high and why there is so much variation from state to state . The simple answer is , of course , taxes , both state and federal . Click on the map below to go to the interactive page that will give the reader specific details for each individual state and bear in mind that , even as the Statists demonize the oil industry as some sort of price-gouging profiteers , that the various government entities make more from the sale of a gallon of gas than do the evil energy producers .

 

 

Gas Taxes By State

Click Map For Interactive Link

 

 

” The federal excise tax is 18.4 cents per gallon, and the rest of the taxes are particular to each state and vary greatly around the country.

  The two states with the biggest taxes: New York at $0.505 and California at $0.4978. The two states with the lowest taxes: Alaska at $0.124 and New Jersey at $0.145.

  Expressed as a percentage, based upon current prices which are $3.678 as averaged across the nation, the price for a gallon of gas breaks down like this:

  • 10% for refining costs and profits
  • 10% for transportation and retailing costs and profits
  • 13% for taxes and fees
  • 67% for crude oil

  One thing to notice: The total costs and profits for everything except the oil is just slightly larger than the amount that goes to state and federal taxes.”

 

 

Here is a bit more perspective on those “massive profits” raked in by “Big Oil” …

 

 

 

 

 

 

” ExxonMobil’s earnings are from operations in more than 100 countries around the world. The part of the business that refines and sells gasoline and diesel in the United States represents less than 3 percent – or 3 cents on the dollar – of our total earnings. For every gallon of gasoline, diesel or finished products we manufactured and sold in the United States in the last three months of 2010, we earned a little more than 2 cents per gallon. That’s not a typo. Two cents.”

 

 

 

As the astute reader can easily ascertain , the only “price gouger” in the energy business is the State .

 

 

 

 

 

 

 

 

 

 

Why You Feel Poorer

 

 

costoflivingxpenses-7-1-14

 

 

 

 

” You feel poorer because you are poorer.

  In the last fourteen years, has your income increased over 50%? If you think it has, has it done so after taxes? Even if it has, you likely have not kept up in terms of inflation.

  If you are a retiree, living on fixed income, a pension or bonds, you certainly have become poorer. If you had bought the Dow-Jones on 12/31/1999 you would have entered at about 11,500. It closed last week at less than 17,100. That would have been an appreciation of 6,600, better than 50%. But, of course, that was before taxes.

  As a retiree, you have seen your purchasing power stolen by Fed policies. Whether you invested in fixed income or equities, you lost ground. Anyone in that position has seen their lives become poorer despite a lifetime of successful work and careful financial planning.”

 

 

    As it stands now , no matter how hard you work and save , you’ll never get ahead , not with the present monetary policies put in place at the behest of the Fed and the government . The authorities are systematically destroying all that the American public has worked so hard to attain . The American dream is not being killed by China … It is a victim of filicide

 

 

” For those still working, most are losing purchasing power each year. Wages are not keeping up with inflation, even the understated numbers reported by government. In short, the decline of a once-great economic power is well underway. The country is no longer growing enough to raise everyone’s standard of living.

  Government has killed the golden goose and in an attempt to hide the obvious is debauching the dollars. Government tries to hide their own failure with phony statistics and a welfare state designed to placate the masses. Bread and circuses are deceptions not progress.”

 

 

Read the rest

 

 

 

 

 

 

Christine Lagarde – The Most Dangerous Woman In The World

 

 

 

 

 

” I have gone on record that the most dangerous organization is the now French led IMF with Christine Lagarde at the helm, which has presented a concept report that debt cuts for over-indebted states are uncompromising and are to be performed more effectively in the future by defaulting on retirement accounts held in life insurance, mutual funds and other types of pension schemes, or arbitrarily extending debt perpetually so you cannot redeem. Yes you read correctly, The new IMF paper is described in great detail exactly how to now allow the private sector, which has invested in government bonds,  to be expropriated to pay for the national debts of the socialist governments.

  I have been warning that there is an idea that has been running around behind the curtain that the national debt of the USA could be settled by usurping all pension funds in the country. Here is a remarkable blueprint that throws all previous considerations concerning the purchase of government bonds over the cliff. The IMF working paper from December 2013 states boldly:

 

“ The distinction between external debt and domestic debt can be quite important. Domestic debt issued in domestic currency typically offers a far wider range of partial default options than does foreign currency–denominated external debt. Financial repression has already been mentioned; governments can stuff debt into local pension funds and insurance companies, forcing them through regulation to accept far lower rates of return than they might otherwise demand.”

  People are blind. They think this is authorization to go get the rich. They are going after everyone for the “rich” are tiny players in the game. People do not want to hear that. They want to think the rich can pay the bills for everyone else. That is not practical and even Julius Caesar recognized that they may be a small group, but they are the engine of the economy that creates jobs. It would have been popular for him to wipe out all the rich who he was against. But in the end, he had to solve the debt crisis by simply retroactively attribute all interest to capital in order to solve the debt crisis that led to the first civil war.”

 

Armstrong Economics

 

 

 

 

 

 

 

 

 

 

The Map With Only 38 States

 

 

 

” In 1973, California State University geography professor George Etzel Pearcy suggested that the U.S. redraw its antiquated state boundaries and narrow the overall number of states to 38.

  Pearcy’s proposed state lines were drawn in less-populated areas, isolating large cities and reducing their number within each state. He argued that if there were fewer cities vying for a state’s tax dollars, more money would be available for projects that would benefit all citizens.

  Because the current states were being chopped up beyond recognition, part of his plan included renaming the new states by referencing natural geologic features or the region’s cultural history.

  While he did have a rather staunch support network—economists, geographers, and even a few politicians argued that Pearcy’s plan might be crazy enough to work—the proposal lost steam in Washington. Imagine all the work that would have to be done to enact Pearcy’s plan: re-surveying the land, setting up new voter districts, new taxation infrastructure—basically starting the whole country over. It’s easy to see why the government balked (though that doesn’t mean it was a bad idea).”

 

Mental Floss

 

 

 

 

 

 

 

 

 

 

The Kronies: Laughing All The Way To The Export-Import Bank

 

 

 

 

Published on Jun 16, 2014

” Get Konnected at http://thekronies.com/

  In this very special episode of “The Less You Know”, Johnny and Bobby learn a valuable lesson about campaign finance. 

  With a crucial re-authorization vote looming, the Representatives must decide whether or not to support the U.S. Export-Import Bank. Johnny and Bobby nearly make a terrible mistake, one that could endanger their political careers! 

  Luckily, Bankor and Ariel Stryker appear just in time to set the Reps straight…straight on the path to re-election. Including a special appearance by “the Big man” himself, this episode is sure to capture hearts, minds, and votes.”

 

 

 

 

 

 

 

 

 

 

 

 

 

9 Unbelievably Absurd Acronyms the FBI Is Tracking On Twitter, Or 9UAATFBIITOT

 

 

FBI Twitterspeak

 

 

 

 

 

” In this week’s stranger news, an 83-page document was procured by self-proclaimed “FOI Geek” Jason Smathers under the Freedom of Information Act. The document, created by the FBI’s Directorate of Intelligence Research Support Unit, features an “extensive—but far from exhaustive—list of shorthand and acronyms used on Twitter and other social media venues.”

  The list contains more than 2,800 entries (you read that correctly) which the FBI asserts you “should find useful in your work or for keeping up with your children and/or grandchildren.” In case your child decides to tell you, “HGH”, during in the middle of a conversation, fret not, for now you can just pull out your handy dandy 83-page guide to internet slang and see that they’re obviously telling you “Haters Gonna Hate.” Duh.

  With over 2,800 abbreviations on the list, there are understandably some strange ones which, based on a quick internet search, have literally never even been used. Imagine employing any of these in daily conversation, not to mention trying to memorize them:

From Reason:

 

  • IOKIYAR, “It’s okay if you’re a Republican
  • ALOTBSOL, “Always look on the bright side of life”

 

 

 

 

 

 

  • BTDTGTTAWIO, “been there, done that, got the T-shirt and wore it out”
  • EOTWAWKI, “end of the world as we know it”

 

 

 

 

 

  • HCDAJFU, “He could do a job for us”
  • IITYWTMWYBMAD, “If I tell you what it means will you buy me a drink?”
  • LFBBEG, “Looking for big bad evil guy”
  • KTBSPA, “Keep the backstreet pride alive”
  • PMIGBOM, “Put mind in gear before opening mouth”

 

 

     Our tax dollars at work … Jeez . One would think that with all the threats to our way of life from those evil “right-wing extremists” , the need to change illegal’s diapers , arming terrorists and such that the Feds would have enough to do without spending a fortune studying social media acronyms … but one would be wrong , wouldn’t one ? 

   In Obama’s Amerika no job is to small for the hand of big government .

Read more  here and here:

 

FBI Releases 83-Page Guide to Social Media Slang, Acronyms

FBI’s Amusing ‘Twitter Speak’ Dictionary Revealed

WTF FBI? Agency Has Huge List of Twitter Slang (and Some of It’s Fake)

FBI discovers Twitter-speak, starts a dictionary

 

 

 

 

 

 

 

 

 

 

World Cup 2014: 17 Pictures Of Shocking Violence As Police ‘Open Live Fire’ On Anti-Fifa Protesters

 

 

world cup 2014 violence

 

 

 

” A Brazilian police officer was filmed firing what appear to be live rounds at anti-World Cup protesters this weekend.”

 

 

 

 

 

 

 

” The incident was captured by the Associated Press close to Rio de Janeiro’s Maracana stadium during the Argentina vs Bosnia-Herzegovina match on Sunday.

  The scenes also saw a man in plain clothes who identified himself as a police officer fire two shots into the air. He continued firing as he was driven away. The news agency was not able to confirm his identity.

  Some residents have turned to artistic protest – daubing walls with anti-Fifa graffiti.

  These powerful images show a nation discontent with corruption, greed and injustice. “

 

 

” One mural in particular, at a Sao Paulo school by renowned street artist Paulo Ito, has gone viral on social media, showing a weeping, starving Brazilian boy, knife and fork in hand, being served a football on a plate.”

 

Lots more here and at the link below:

 

 

RIO OFFICER SHOOTS LIVE ROUND DURING CUP PROTEST

 

 

 

 

 

 

 

 

IMF Slashes Estimate For US Economic Growth In 2014

 

 

 

 

 

” The International Monetary Fund slashed its forecast for US economic growth on Monday, citing a harsh winter, problems in the housing market and weak international demand for the country’s products.

  In its annual review of the US economy, the IMF cut its growth forecast by 0.8 percentage points to 2%. At a press conference IMF managing director Christine Lagarde blamed the bad winter for much of the cut and said the setback should be temporary. But she warned: “Growth in and of itself will not be enough.”

  As part of a series of reforms the IMF has called for an increase in the minimum wages in the US, currently the lowest when compared to the average wage in any of the Organisation for Economic Co-operation and Development (OECD)’s 34 countries.

  She said the number of long-term unemployed, 3.4 million in May according to the Department of Labor, remained too high and the percentage of people in or actively looking for work, the so-called participation rate, remained too low.”

 

 

 

    While acknowledging the impact that our huge unemployment rate is playing in the lack of recovery , Ms Lagarde proceeds to lecture the US on the need to hike the minimum wagethat will spur employment , yeah , right . Their second recommendation is the other tried and true Statist “recovery tool” … government stimulus

 

” The IMF believes the US also needs to do more to mitigate the impact of its aging population and to stimulate productivity. The best option would be for government to boost spending, notably on infrastructure, the IMF said.”

 

 

 

The Guardian has more

 

 

 

 

 

 

 

 

“Liquidity Is Becoming A Serious Issue” As Japan’s Bond Market Death Goes Global

 

 

 

 

 

” While we noted last week the death of the Japanese bond market as government intervention has killed the largest bond market in the world; it is now becoming increasingly clear that the dearth of trading volumes is not only spreading to equity markets but also to all major global markets asinvestors rotate to derivatives in order to find any liquidity. Central planners removal of increasing amounts of assets from the capital markets (bonds and now we find out stocks), thus reducing collateral availability, leaves traders lamenting “liquidity is becoming a serious issue.” While there are ‘trade-less’ sessions now in Japanese bonds, the lack of liquidity is becoming a growing problem in US Treasuries (where the Fed owns 1/3rd of the market) and Europe where as JPMorgan warns, “some of this liquidity may be more superficial than really deep.” The instability this lack of liquidity creates is extremely worrisome and likely another reason the Fed wants to Taper asap as DoubleLine warns, this is “the sort of thing that rears its ugly head when it is least welcome — when it’s the greatest problem.”

As Bloomberg reports,

Japan’s bond market is dead… and so is its stock and FX markets…

 

  The Bank of Japan’s unprecedented asset purchase program has released a creeping paralysis that is freezing government bond trading, constricting the yen to the tightest range on record and braking stock-market activity.

“ All the markets have been quiet,” said Daisuke Uno, the Tokyo-based chief strategist at Sumitomo Mitsui Banking Corp. “We’ve already seen the BOJ dominance of JGBs since last year, but recently participants in currency and stock markets are also decreasing as those assets have traded in narrow ranges.”

“ The flows on both the buying side and selling side continue to fall,” said Takehito Yoshino, the chief fund manager at Mizuho Trust & Banking Co., a unit of Japan’s third-biggest financial group by market value. “Falling volatility is a very serious problem for traders and dealers who are unable to get capital gains.”

The effects of the plunge in Japan’s bond market is hardly limited to the land of the Rising Sun …

The US is getting that way as the Fed owns one third of the market…

 

” And with that not only have the central planners broken the largest and historically most liquid markets in the world but have forced investors into leveraged derivatives positions (in order to find liquidity for their exposure-seeking) which themselves are entirely over-promise (relative to the underlyings) and under-collateralized with any quality collateral. As we concluded previously

 
 

  Assume tomorrow the real black swan appears and all the liabilities: traditional and shadow, promptly demand collateral delivery. Well, the $11 trillion shortage would mean that risk values of, for example the S&P, would be haircut by a factor of, say, 75%. Or back to the proverbial 400 on the S&P500.

  Still think owning real high quality collateral, not of the paper but of the hard asset variety such as gold, is a naive proposition, best reserved for fringe lunatic, tin foil hatters and gold bugs?

Go ahead then: sell yours. “

 

 

 

Continue reading at Zero Hedge

 

 

 

 

 

 

 

 

 

 

 

Taxpayer Money Goes To Party Video Dubbed As ‘Team Building’

 

 

Miami %22Team Building%22 Video

 

 

 

” It is a party video you have been paying for every year since 2010. 

  Miami-Dade County’s Community Information and Outreach department has been producing it, it said, to show around the holiday season and as a “team-building” exercise.

  Most of the videos appear to be a series of skits involving images of drinking, dancing and dramatics apparently designed to be funny.

” Shocking” is how one county employee described it, who did not want to be identified for fear of losing their job.

  One scene, for example, has images of one current and one former employee holding what appears to be beer and waiving dollar bills. All of this as the music says, “Bottoms up” and the two men are heard saying, “Cheers baby!”

  Other parts have employees dancing to popular songs like “Gangnam Style.” “

 

 

Read more on this obscene waste of public funds , modeled after those wasteful IRS ads of last year .

 

 

 

 

 

 

 

 

 

 

Joni Ernst Wins Iowa GOP Primary After Promising To Cut Wasteful Spending – Cavuto

 

 

 

 

 

America’s Most Prolific Car Collector Is Selling His Entire Collection

 

 

 

 

 

 

 

” The Barrett-Jackson Auction in Scottsdale, Arizona is one of the biggest auto sales events of the entire year. For the last decade, it’s been about what one man, Ron Pratte, would buy. But in 2015 he’s selling every single car he owns at that auction, including a GM Futurliner. And he hasn’t given a reason.”

” The notoriously private Pratte has a car collection with some of the most significant cars in the world. He got his start in 2003 when he bought 52 (that’s not a typo) cars at the Barrett-Jackson in Scottsdale, and he’s been coming back ever since. His collection includes the aforementioned Futurliner, one of two Shelby Super Snakes, and the first production Ford Thunderbird, among other crazily significant cars.”

Jalopnik

Here is a link to a private tour of Mr Pratte’s garage complete with many photos like the one above and the one below .

Audit: State Paid $12 Million In Health Costs — For Dead People

 

 

 

 

 

 

” Cook County has long been ridiculed for allowing dead people cast votes, but the state may have just garnered a new distinction.

  It paid $12 million in health care for people who were already dead — including in one case, for a person who had died in 1989.

  A new financial audit released by Auditor General Bill Holland’s office on Thursday found that the Illinois Department of Health and Family Services had 8,232 people still on Medicaid rolls qualifying for benefits, even though they were dead.

  The state paid monthly premiums totaling almost $7 million for 561 people who had already been dead for an average of nearly two years before they were enrolled in a state managed care program.

A person was dead for 663 days and then they were signed up for Managed Care,” an incredulous Holland told the Sun-Times. “They need to improve their system to ensure the death dates for current enrollees, and just to ensure that people who were deceased were not enrolled.”

 

Continued at Chicago SunTimes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Published on May 23, 2014

” Montel Williams gave a passionate, emotional speech about the need for congress and the administration to stop dragging their feet and being political with veterans problems and get them corrected. He was attending a veterans picnic in Myrtle Beach for Memorial Day.”

13 Deaths, Untold Heartache, From G.M. Defect

 

 

 

 

” For most of the last decade, Candice Anderson has carried unspeakable guilt over the death of her boyfriend. He was killed in 2004 in a car accident here, and she was at the wheel. At one point, Ms. Anderson, who had a trace of Xanax in her blood, even faced a manslaughter charge. She was 21.

  All these years, Ms. Anderson — now engaged and a mother — has been a devoted visitor to his grave. She tidies it every season, sweeping away leaves and setting down blue daisies with gold glitter for his birthday, miniature lit trees for Christmas, stones with etched sayings for the anniversary of their accident.

“ It’s torn me up,” Ms. Anderson said of the death of Gene Mikale Erickson. “I’ve always wondered, was it really my fault?”

Last week, she learned it was not.”

   Read more of these 13 acknowledged victims of GM and the Fed’s conspiracy here and note these articles below that argue that the “official” death toll of 13 is just the beginning .

Federal Auto Safety Regulator: GM Ignition Flaws Likely Killed More Than 13 People

Why GM Recall Death Toll Will Rise

NHTSA Says More Than 13 Killed In GM Recalled Cars

    While this scandalous behavior on the part of GM began long before the government became the major shareholder , it demonstrates most succinctly that once the Feds became a partner of this private corporation and had a vested interest in the success and/or failure of that particular corporation that it abdicated it’s primary function as a watchdog of the public’s interests .

Hollywood Celebrities Caught On Hidden Camera Accepting Money From “Middle Eastern Oil Interests”

 

 

 

 

 

 

 

Published on May 20, 2014

” James O’Keefe Premieres “Expose: Hollywood’s War on US Energy” at Cannes Hollywood celebrities caught on hidden camera accepting money from “Middle Eastern oil interests”

  CANNES — In a blockbuster new video, Project Veritas has exposed the truth about the dark funding behind Hollywood’s anti-fracking messaging machine.

  New York Times Bestselling Author and Project Veritas founder and president James O’Keefe debuted the latest investigation at a “premiere” in Cannes, France on Wednesday.

  In the investigation, an undercover journalist from Project Veritas posed as a member of a Middle Eastern oil dynasty and offered $9 million in funding to American filmmakers to fund an anti-fracking movie.

  In video from a meeting with Ed Begley Jr., Mariel Hemingway and Josh Tickell, a Project Veritas investigator disguised as “Muhammed” offered $9 million for an anti-fracking film. “Muhammad” clearly states: “If Washington DC continues fracking, America will be energy efficient, and then they won’t need my oil anymore.”

  In the same conversation, Begley and Hemingway accept the funding and agree to hide the source of funds for the anti-fracking movie. Hemingway agreeing that those who will know the source of the funding are “only at this table.” 

  Ed Begley Jr. is an outspoken environmental activist and current Governor on the board of the Academy of Motion Picture Arts and Science (the organization that brings us the OSCARS every year.)

Mariel Hemingway is a Golden Globe- and Oscar-nominated actress.

  Josh Tickell is a Sundance Film Festival Winner and the director of environmental message movies “Fuel”, “The Big Fix” and “PUMP”.

  Team Begley even submitted a video of Oscar-nominated actor Mark Ruffalo offering his unwavering support for the fictitious anti-fracking film project.

  The meeting came about after a series of discussions with Josh and Rebecca Tickell. A Project Veritas journalist posed as an ad executive seeking to broker a deal for his client (“Muhammed”) to fund an American-made anti-fracking film.

  In a phone call to Tickell, the ad executive states: “My client’s interest is to end American energy independence; your interest is to end fracking. And you guys understand that?”

  Tickell’s response: “Correct. Yes, super clear.”

  Tickell makes it clear on the tape that revealing the source of funding for an activist film can undermine its credibility. Tickell notes that the movie “Promised Land” undermined its own message because it was labeled as being funded by Image Nation Abu Dhabi. His advice: “So rather than putting that [the source of funding] up front, don’t mention that.”

  In a follow-up call with Josh and Rebecca Tickell, Rebecca Tickell assures our investigator: “We would never tell about where the funding is coming from. That would be really awkward for us.”

  Josh Tickell: “We’re confident that we can keep this zip locked, you know tight, air-tight forever. If we don’t protect who is kind of funding this thing, if we have to disclose that or that becomes a necessary part of it, the whole enterprise will not work.” 

  Project Veritas founder and president James O’Keefe stated Wednesday:

” This latest investigation shows the dark side of Hollywood’s environmental movement. Hollywood is willing to take and conceal money from Middle Eastern oil interests in order to advance their cause of destroying American energy independence.”

  The raw video can be found at http://Youtube.com/VeritasVisuals

  Project Veritas is non-partisan and does not advocate for political candidates or parties. The purpose of Project Veritas’ investigations is to expose waste, fraud, dishonesty and self-dealing.

  Stay up to date on who responds by following us on Facebook at http://Facebook.com/ProjectVeritas and on Twitter @Project_Veritas.

Support Project Veritas’ investigations at http://ProjectVeritas.com/donate “

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Perfect Response From Tickld

 

 

This graduate pretty much sums up the current state of “Higher Educational” affairs .

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Australia’s Global Warming Budget Is About To Get Slashed By 90 Percent

 

 

 

 

” Australia’s conservative coalition is set to cut more than 90 percent of the funding related to global warming from their budget, from $5.75 billion this year to $500 million, over the next four years.

  Environmentalists and leftist politicians in the country protested the move by conservative Liberal Party Prime Minister Tony Abbott’s governing coalition to slash funding for climate programs, arguing such funding for green energy and reducing carbon dioxide emissions were necessary to stop global warming.

  But Abbott’s government shot back, saying that the country needed to reduce the size of government and improve the economy.

” The coalition government acknowledges the role of renewable energy in Australia’s energy mix,” said Industry Minister Ian Macfarlane. “There is over $1 billion in funding for existing renewable projects to be completed over the coming years.” “

 

Read more

 

 

 

 

 

 

 

 

 

 

That Zero Hedge Article On Unsold Cars Is Bullshit

 

 

That Zero Hedge Article On Unsold Cars Is Bullshit

 

 

 

” I usually enjoy reading Zero Hedge because the insights are often interesting and I think pessimism is an underrated virtue these days. However, this guest article on unsold cars is so demonstrably false I had to take a break from my Sunday morning to dispute it. 

  It is an admittedly appealing idea to think that automakers, unable to sell cars, are just wildly producing them and then dumping them around the world in an endless cycle of mass production hysteria. So much of the modern economy seems senseless and inexplicable, which is why an article like this seems to give some credence to the feeling many of us have inside that something is terribly wrong.P

  The visuals are strong, the headline is clear, and you almost don’t have to read the article to viscerally understand the problem. I, more than anyone, get the appeal of this story because it seems to largely rip off an article I wrote — including the images and headline — more than five years ago (which itself was largely a rehash of a Guardian article).”

 

 

    We posted the Zero Hedge article yesterday and in the interests of equal time present Jalopnik’s refutation of same . 

    While we have no expertise in these matters and therefore are in no position to declare who is correct , one thing we can say is that while the Jalopnik author claims the photos in the Zero Hedge article are old , one on our site , a Google Earth view was not from the article and was found by us yesterday .

 

 

 

 

 

 

 

 

 

Where The World’s Unsold Cars Go To Die

 

” In the past several years, one of the topics covered in detail on these pages has been the surge in such gimmicks designed to disguise lack of demand and end customer sales, used extensively by US automotive manufacturers, better known as “channel stuffing”, of which General Motors is particularly guilty and whose inventory at dealer lots just hit a new record high. But did you know that when it comes to flat or declining sales and stagnant end demand, channel stuffing is merely the beginning?

Presenting…

 

Where the World’s Unsold Cars Go To Die (courtesy of Vincent Lewis’ Unsold Cars)
 
 

” Above is just a few of the thousands upon thousands of unsold cars at Sheerness, United Kingdom. Please do see this on Google Maps….type in Sheerness, United Kingdom. Look to the west coast, below River Thames next to River Medway. Left of A249, Brielle Way.”

 

 

Unsold Cars Sheerness UK

 

 

” There are hundreds of places like this in the world today and they keep on piling up…

  Houston…We have a problem!…Nobody is buying brand new cars anymore! Well they are, but not on the scale they once were. Millions of brand new unsold cars are just sitting redundant on runways and car parks around the world. There, they stay, slowly deteriorating without being maintained.”

 

 

 

 

 

” There is proof that the worlds recession is still biting and wont let go. All around the world there are huge stockpiles of unsold cars and they are being added to every day. They have run out of space to park all of these brand new unsold cars and are having to buy acres and acres of land to store them.

  The images on this webpage showing all of these unsold cars are just a very small portion of those around the world. There are literally thousands of these “car parks” rammed full of unsold cars in practically every country on the planet. Just in case you were wondering, these images have not been Photoshopped, they are the real deal!

  Its hard to believe that there are so many unsold cars in the world but its true. The worse part is that the amount of unsold cars keeps on getting bigger every day.”

 

 

    Go to ZeroHedge for many more photos and much more info on the millions and millions of brand new , unsold cars stockpiled and rotting around the world . 

 

 

 

 

 

 

 

Swiss To Vote On $25 An Hour Minimum Wage

 

 

 

 

 

 

” A vote on Sunday to establish a minimum wage of $25 an hour would make mostly immigrants here in agriculture, housekeeping, and catering among the world’s highest paid unskilled workforce.

  The vote comes after hundreds of fast-food workers walked off their jobs in many U.S. cities and in more than 30 countries on Thursday in a protest for higher wages. If the Swiss proposal passes, the country would have the highest minimum wage in the world.

  But some who would be eligible for the higher wage worry that it may do more harm than good.

  Luisa Almeida is an immigrant from Portugal who works in Switzerland as a housekeeper and nanny. Almeida’s earnings of $3,250 a month are below the proposed minimum wage but still much more than she’d make in Portugal.

  Since she is not a Swiss citizen, she cannot vote but if she could, “I would vote ‘no’,” she says.

If my employer had to pay me more money, he wouldn’t be able to keep me on and I’d lose the job.” “

 

 

    If this minimum wage law passes get ready to see Switzerland’s low unemployment rate skyrocket as all wages will necessarily have to rise . If your average laborer is making a grand a week where does that leave the tradesmen and civil servants ?

USA Today

 

 

 

 

 

 

 

 

 

 

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