Tag Archive: Economy


Report: 71 Percent Of NH Job Growth Since 2000 Has Gone To Immigrants Over Americans

 

 

 

 

” A whopping 71% of new jobs in New Hampshire since 2000 have gone to foreign immigrant workers—both those who are here illegally and legally—a new report from the Center for Immigration Studies (CIS) found.

“ Job growth in New Hampshire has not been very strong,” Steven Camarota, CIS’s research director and the report’s co-author, said in a statement accompanying its release. “The situation for natives without a college education has been particular bad. Thus, it is surprising that many of New Hampshire’s politicians supported the Gang of Eight bill, which would give work authorization to illegal immigrants and dramatically increase the number of foreign workers allowed into the country in the future.”

  One particular politician in the state who supported the “Gang of Eight” bill, which would have hurt even more New Hampshire jobs than current immigration policy does, is incumbent Democratic Sen. Jeanne Shaheen (D-NH). Shaheen voted for the immigration bill and regularly defends it on the campaign trail, despite the fact that the data that CIS found shows New Hampshire’s citizens are struggling, and illegal and legal immigrants are taking many of the state’s new jobs.”

 

Breitbart

 

 

 

 

 

 

 

 

 

 

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CNN Poll: Voters Are Angry

 

 

 

 

 

 

” Nearly 7 in 10 Americans are angry at the direction the country is headed and 53% of Americans disapprove of President Barack Obama’s job performance, two troubling signs for Democrats one week before the midterm elections, a new CNN/ORC International Poll shows.

  Democrats are battling to try and save the Senate majority, while hoping to prevent more losses in the House, which the GOP controls by a 234 to 201 margin.

  In the Senate, Republicans need a net gain of six seats, and several state polls in the past month of contested races show that Democrats are in danger of losing control of the majority, and thus Congress. Currently, Democrats control the Senate by a 55-45 margin with two of those seats held by independents that align themselves politically with Democrats.

  The CNN/ORC poll shows that 30% of Americans are “very angry” and 38% are “somewhat angry” about the way things are going in the country, while 31% expressed “no anger” at all. CNN Polling Director Keating Holland notes the 31% of “very angry” Americans matches the mood of the country in 2010 when Republicans took back control of the House. “

CNN

AP-GfK Poll: Most Expect GOP Victory In November

 

 

Graphic shows results of AP-GfK poll on voter attitudes; …

 

 

” Two weeks before Election Day, most of the nation’s likely voters now expect the Republican Party to take control of the U.S. Senate, according to a new Associated Press-GfK poll. And by a growing margin, they say that’s the outcome they’d like to see.

  Among all adults, 38 percent say they’d like the Democrats to wind up in control of Congress, to 36 percent for the Republicans. But the GOP holds a significant lead among those most likely to cast ballots: 47 percent of these voters favor a Republican controlled-Congress, 39 percent a Democratic one. That’s a shift in the GOP’s favor since an AP-GfK poll in late September, when the two parties ran about evenly among likely voters.

  Women have moved in the GOP’s direction since September. In last month’s AP-GfK poll, 47 percent of female likely voters said they favored a Democratic-controlled Congress while 40 percent wanted the Republicans to capture control. In the new poll, the two parties are about even among women, 44 percent prefer the Republicans, 42 percent the Democrats.”

 

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The Death Rattle Of Europe’s Statist Dream

 

 

 

 

 

 

” Europe’s all-too-predictable relapse into recession is gathering force, threatening not only the pipe dream of economic and political unity, but eroding grandiose illusions that have helped prop up the world’s financial house of cards. The unwillingness of France in particular to play by the EU’s — i.e.,  Germany’s — rules appears to have doomed the EU dream. The idea of a borderless Europe bound by a common currency and a shared desire to forever banish war from the Continent was a lofty one, but it was mired from the start in deeply rooted political animosities, grass-roots skepticism and bureaucratic overreach. Now these problems, along with a great many others, have turned the EU project into a Tower of Babel. A million pages of meticulously codified EU rules might as well have been written in cuneiform, so inscrutable and arcane have they become.

  And useless as well. France’s prolonged economic death rattle has been made possible by running annual deficits larger by half than the 3% “allowed” by Brussels. And now, channeling  de Gaulle for what could turn out to be France’s last hurrah, the French have flouted Merckel’s authority, and common sense itself, by proposing to remedy the problem by hiring more government workers and expanding tax breaks.  Portugal, Greece, Spain and the other deadbeat rabble have been cheering them on, and why not? They think they have nothing to lose — that Germany is the only country with any skin in the game. Their folly is about to be laid bare, however, unless Germany gives in and allows Europe’s Central Bank to monetize the collective debts of Europe Fed-style. “

 

Continue reading

 

 

 

 

 

 

 

 

Prefer GOP On Seven Of 13 Election Issues; Democrats, On Just Four

 

2014 Midterm Issues: Importance and Party Advantage

 

 

” The Republicans in Congress hold significant leads over the Democrats on four of the six issues that U.S. registered voters say are most important in determining how they will vote in November: the economy, the way the federal government is working, the situation with Islamic militants in Iraq and Syria, and the federal budget deficit. Democrats, by contrast, top their Republican rivals on just one of the six: “equal pay for women.”

  These results are from a Sept. 25-30 poll in which Gallup asked registered voters to rate the importance of 13 issues to their vote for Congress, and then to indicate which party would do a better job on each issue. The accompanying graph simultaneously displays the rankings of these issues on both dimensions. The higher an issue is, the greater the Republican Party’s advantage. And the farther to the right an issue is, the more important it is to the electorate.

  The 13 issues measured in the new poll include eight that appeared in a Gallup Poll conducted in April, before the midterm campaign season came into full bloom, plus five new ones. In total, six issues were rated above the average of 69%, in terms of the percentage of voters saying they are extremely or very important to their vote:

  1. the economy (88%)
  2. the availability of good jobs (86%)
  3. the way the federal government is working (81%)
  4. the situation with Islamic militants in Iraq and Syria (78%)
  5. equal pay for women (75%) and
  6. the federal budget deficit (73%)

  On the No. 1 issue, the economy, Republicans have more than doubled their April lead over Democrats, to 11 percentage points. “

 

Read the rest at Gallup

 

 

 

 

 

 

 

 

 

 

China Just Overtook The US As The World’s Largest Economy

 

 

 

 

 

 

” Sorry, America. China just overtook the US to become the world’s largest economy, according to the International Monetary Fund.

  Chris Giles at the Financial Times flagged up the change. He also alerted us in April that it was all about to happen

  Basically, the method used by the IMF adjusts for purchasing power parity, explained here.

  The simple logic is that prices aren’t the same in each country: A shirt will cost you less in Shanghai than in San Francisco, so it’s not entirely reasonable to compare countries without taking this into account. Though a typical person in China earns a lot less than the typical person in the US, simply converting a Chinese salary into dollars underestimates how much purchasing power that individual, and therefore that country, might have. The Economist’s Big Mac Index is a great example of these disparities. “

 

Heck of a job , Barack … read more 

 

 

 

 

 

 

 

 

 

 

 

 

 

Poll: Americans Worry _ Can Government Protect Us?

 

Govt Poll

 

Click for PDF of poll results

 

 

” Americans lack confidence in the government’s ability to protect their personal safety and economic security, a sign that their widespread unease about the state of the nation extends far beyond politics, according to the latest Associated Press-GfK poll.

  With Election Day about a month away, more than half those in the survey said Washington can do little to effectively lessen threats such as climate change, mass shootings, racial tensions, economic uncertainty and an unstable job market.

  For many of those questioned in the poll, conducted before doctors in Texas diagnosed a Liberian man with the Ebola virus, the concern starts with the economy.

  The poll found that 9 in 10 of those most likely to vote in the Nov. 4 election call the economy an extremely or very important issue. Teasdale is among those who say the slow recovery from the recession is a top concern.

  Despite improvements nationally, business is far from booming in his state, Teasdale said. He’s been supplementing his stagnant salary by renovating and renting out duplexes and has little faith the situation will improve soon. He wants government to get out of the way of business.

” If you’re putting so much restriction on them where it isn’t practical for them to expand or grow, why should they?” Teasdale asked.

  Those surveyed also pointed to events such as the protests in Ferguson, Missouri, that followed the fatal police shooting an unarmed black 18-year-old and the beheading of a woman in an Oklahoma food processing plant, apparently at the hand of a suspended co-worker.

” This is the first time I’ve felt insecure in my own country,” said Jan Thomas, 75, of Stevensville, Montana. “Especially after the beheading in Oklahoma. That’s scary.”

  The poll found that Democrats tend to express more faith in the government’s ability to protect them than do Republicans. Yet even among Democrats, just 27 percent are confident the government can keep them safe from terrorist attacks. Fewer than 1 in 5 say so on each of the other issues, including climate change.”

   Another first for the gentleman from “Hope & Change” . He’s the best friend fans of liberty have ever had , albeit unintentionally … Read the rest from AP News

Record 92.6 Million Americans Not In Labor Force

 

 

 

 

 

” While by now everyone should know the answer, for those curious why the US unemployment rate just slid once more to a meager 5.9%, the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010: the collapse in the labor force participation rate, which in September slid from an already three decade low 62.8% to 62.7% – the lowest in over 36 years, matching the February 1978 lows. And while according to the Household Survey, 232,000 people found jobs, what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million! “

 

Tyler Durden has more at Zero Hedge

 

 

 

 

 

 

 

 

 

 

 

Number Of Billionaires Hits Record High In 2014

 

 

 

 

 

 

” The world economy is going through a rough patch, yet the world’s billionaire population is at an all-time high.

  A new survey shows that 155 new billionaires were minted this year, pushing the total population to a record 2,325 – a 7 percent increase from 2013.

  Credit goes to the United States – home to the most billionaires globally – where 57 new billionaires were recorded this year, according to the Wealth-X and UBS Billionaire Census 2014 released on Wednesday.

  Asia and Latin America and the Caribbean were also large contributors,with 52 and 42 new entrants, respectively.

” The fastest growing segment of the billionaire population, in terms of wealth source, are those who inherited only part of their fortunes and became billionaires through their own entrepreneurial endeavors,” the report said, noting that 63 percent of all billionaires’ primary companies are privately held.”

 

 

    Does anyone find it peculiar that the biggest growth in the billionaire population is happening in three countries that are heavily State controlled ? That’s right … the US under Obama , China and Russia … WTF ?

 

 

Read on

 

 

 

 

 

 

 

 

 

Politico Battleground Poll Puts Obama At 44/56, GOP Up On Immigration

 

 

 

 

 

” Americans are sour on the economy, which surprises Politico’s Alexander Burns [link fixed], but it shouldn’t. In the first major likely-voter poll of the general election, Democrats face strong headwinds on the economic issues that voters tell pollsters will be their main focus in November. Burns notes that voters aren’t buying the Recovery Summer Part IV meme Democrats are selling, although it appears Burns is:

If the nation’s economy is on the mend, the voters of 2014 aren’t feeling it.

  Despite continued signs of a halting but persistent national comeback, midterm voters remain frustrated and unhappy with the state of the economy, according to the latest POLITICO poll of likely voters in 2014 battleground states. Many appear to blame President Barack Obama: 57 percent of these voters disapprove of his economic leadership.

  But while the economy has improved, it has not yet taken flight: Unemployment remains above 6 percent, and in August the country gained just 142,000 jobs. Candidates around the country have tempered their claims of economic improvement, including Republican governors who also initially aimed to run on their records of job creation.

  Some states have seen improved job creation, but not the US as a whole. With the exception of one month out of the past year, there haven’t been any “impressive monthly employment reports,” and even the one didn’t get to the 300K level. Adding an average of around 200K a month only slightly surpasses population growth in the US, which means for the last five years since the technical recovery began, the US has done little except tread water when it comes to job creation. Furthermore, the 6% unemployment rate would be impressive if the workforce participation rate had remained fairly constant, but it hasn’t; it’s at a 36-year low.”

 

 

Then there is this gem:

 

 

” Unfortunately for Democrats, 35% of likely voters believe economic issues are the top priority for this election in this battleground poll. Another 19% think it’s national security, which makes the situation even worse. The issues that Democrats hoped to highlight in this cycle — the environment, social problems, and immigration — combine up for a whopping 11% of voters who will prioritize them this summer.”

 

 

Read it all at Hot Air but remember … if there is a way to blow a huge advantage the GOP are the ones that can find it .

 

 

 

 

 

 

 

We’re Number 32!

 

 

 

 

 

” Any day now the White House and Sen. Charles Schumer (D., N.Y.) will attempt to raise taxes on business, while making the U.S. tax code even more complex. The Obama and Schumer plans to punish businesses for moving their legal domicile overseas will arrive even as a new international ranking shows that the U.S. tax burden on business is close to the worst in the industrialized world. Way to go, Washington.

  On Monday the Tax Foundation, which manages the widely followed State Business Tax Climate Index, will launch a new global benchmark, the International Tax Competitiveness Index. According to the foundation, the new index measures “the extent to which a country’s tax system adheres to two important principles of tax policy: competitiveness and neutrality.” “

 

 

 

 

 ” A competitive tax code is one that limits the taxation of businesses and investment. Since capital is mobile and businesses can choose where to invest, tax rates that are too high “drive investment elsewhere, leading to slower economic growth,” as the Tax Foundation puts it.

  By neutrality the foundation means “a tax code that seeks to raise the most revenue with the fewest economic distortions. This means that it doesn’t favor consumption over saving, as happens with capital gains and dividends taxes, estate taxes, and high progressive income taxes. This also means no targeted tax breaks for businesses for specific business activities.” Crony capitalism that rewards the likes of green energy with lower tax bills while imposing higher bills on other firms is political arbitrage that misallocates capital and reduces economic growth.

  The index takes into account more than 40 tax policy variables. And the inaugural ranking puts the U.S. at 32nd out of 34 industrialized countries in the Organization for Economic Co-operation and Development (OECD).”

 

 

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The Day After Labor

 

 

 

 

 

” To all our American readers, Happy Labor Day! And to all our Canadian readers, Happy Labour Day! That’s what the day used to be about: putting the “u” in Labor. You can’t spell labour without you, and without you and your labour this planet would be a primitive state of nature, red in tooth and claw. Consider the words of Peter J McGuire, General Secretary of the Brotherhood of Carpenters and Joiners, proposing the very first Labor Day a mere century-and-a-third ago. The new day would be an occasion, he said, to honor those “who from rude nature have delved and carved all the grandeur we behold”.

  What a crazy! All the grandeur we behold comes from man and his work? What fossil fuel is he inhaling? Today, rude nature is the state we aspire to, and you can’t even delve and carve a Keystone pipeline underneath it, out of sight. Labor itself, in the sense Mr McGuire used the term, is morally dubious among our elites, and, down at the other end, simply unknown. A statistic from my book After America, personally autographed copies of which are exclusively available from the SteynOnline bookstore and which help support my campaign against Nobel fraud Michael Mann’s rude nature, into which I hope to be carving a hearty “up yours”…

Whoops, sorry. Where was I? Ah, yes. A quote from After America:

  One fifth of British children are raised in homes in which no adult works. Just under 900,000 people have been off sick for over a decade, claiming “sick benefits”, week in, week out for ten years and counting.

  By 2012, one tenth of the adult population had done not a day’s work since Tony Blair took office on May 1st 1997 – a decade and a half earlier. In such households, the weekday ritual of rising, dressing, and leaving for gainful employment is entirely unknown. In Ferguson, Missouri, the “conversation”, as they say on MSNBC, is between the dependent class and the governing class that ministers to them and keeps them in line. If you’re a convenience store owner, your low-skilled service jobs are the only labor on offer, and, for your pains, you get burned and looted by the dependent class while your 911 calls go unanswered by the governing class, both of which you fund.

  Now there’s a glimpse of the world to come, for those who wish to ponder it. Of course, nothing dates quicker than the future, as I suggested in this Labour Day column from Canada’s National Post twelve years ago:

This Labour Day, I thought about the working class, the masses.

  No, honestly, I did. Okay, I was on the beach, but the folks around me lying on the sand had jobs they’ll be getting back to this morning. They worked. They would be classed as workers. But they’re not an homogeneous “working class”, they’re not conscripts in Karl Marx’s “masses”. The transformation of Labor Day, from a celebration of workers’ solidarity to a cook-out, is the perfect précis of the history of Anglo-American capitalism. “

 

 

As usual , read it all 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hamptons Residents Shocked After Finding Ku Klux Klan Pamphlets

 

 

KKK Hamptons

Click Pic For Video

 

 

 

” Some homeowners in the Hamptons are puzzled and angry after finding recruitment pamphlets for the Ku Klux Klan at their homes.

  As CBS 2’s Jennifer McLogan reported Tuesday, Fernando Alvarez said he found the fliers under his Hampton Bays door. His family was left wondering if they were targets of the hate group, or if the leafleting was random.

“ We were really shocked that … in this area we can have KKK,” Alvarez said.

  Hampton Bays, the town of Southampton’s most populous hamlet, has 13,000 residents — 30 percent of whom are Hispanic.”

 

CBS New York

 

 

 

 

 

 

 

 

 

Electorate Awakens: Obama Gas And Mortgage Groupie Now Says He Lied About Everything

    Everyone remembers this viral video of Florida mother Peggy Joseph voicing her unqualified support for Santa Obama , the candidate that will pay her mortgage and put gas in her car , but just in case you’ve forgotten just how enthusiastic the woman was here is the video again …

 

 

 

   Fast forward six years and Ms Joseph is whistling a different tune . Documentary filmmaker Joel Gilbert located Peggy as part of his latest project “There’s No Place Like Utopia” and here is what she has to say after six years of “Hope & Change”.

 

 

 

 

” Remember that South Florida woman who had her fifteen minutes of fame claiming Obama would pay for her mortgage and gas?

  Before the 2008 election, she was filmed saying “I won’t have to worry about putting gas in my car, I won’t have to worry about paying my mortgage. If I help him, he’s going to help me!”

  Well, documentary filmmaker Joel Gilbert tracked down Peggy Joseph to see how all that hope and change is working out for her and six years later, she’s had a complete change of heart. After living through Obama’s failed economic policies, she now says “he lied about everything.” “

 

Read the rest

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

A Third Of America’s 18- To 34-Years-Olds Live With Their Parents

 

cotd adults living with parents

 

 

 

” Increasing numbers of young Americans are heading to college, where they’re racking up debt to pay for rapidly increasing tuition costs.

  Those graduating are being confronted by a challenging job market, which eventually leads many to just drop out of the labor force altogether.

  This in turn has led to an increasing delinquency rate for student-loan borrowers.

  So it’s no surprise that young people are increasingly opting, perhaps out of necessity, to live at home with their parents.

  In his latest monthly chart book, Deutsche Bank’s Torsten Slok tracks the rise of 18- to 34-years-olds currently in this position.

  And there are a lot.

  Slok sees this as a bullish force to come in the housing market characterized by a homeownership rate at a 19-year low.”

 

Business Insider

 

 

 

 

 

 

 

 

 

 

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 .

 

 

 

 

 

 

 

 

 

Fischer, Brainard To Push For More Activist Fed

 

 

 

 

 

 

” The two new nominees to the Federal Reserve’s Board of Governors are expected to push for an expanded Fed role in managing the U.S. economy, working to replace the current raft of programs that resulted from the financial crisis with more permanent tools.

  The arrival of former Bank of Israel Governor Stanley Fischer and former U.S. Treasury official Lael Brainard will add two strong voices to back Chair Janet Yellen’s view that loose monetary policy needs to be extended to turn around a slack labor market.

  Fischer intervened directly in Israel’s mortgage market to tackle a real estate bubble, while Brainard pushed EU governments hard for more aggressive action from the European Central Bank during the euro zone crisis.

  BB Interviews with former colleagues and a review of their public statements and published material also suggest both will want the Fed to remain in activist mode long after its current programs wind down and its bloated balance sheet shrinks.

  How they influence the U.S. central bank is a critically important question for investors, who are searching for clues on when the Fed will lift interest rates from near zero, where they’ve been since late 2008. It is a debate that may well be the defining one of Yellen’s tenure.”

 

 

 

 

 

 

    As if they don’t already control everything now , the Fed wants even more power . Statism is on the march in Obama’s Amerika .

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

7 Stone Cold Facts About the Economy That Progressives Cannot Wish Away

 

 

Food-Stamp-Nation

 

 

 

” Facts are unbelievably stubborn things.

  Compare these changes for the last year of the Bush presidency 2008 versus the last full year of the Obama presidency 2013:

 

Read the rest at IJR

 

 

 

 

 

 

China’s Li Keqiang Warns Investors To Prepare For Wave Of Bankruptcies

 

 

 

 

” China is braced for a wave of industrial bankruptcies as its slowing economy forces companies with sky-high debts to the wall, the country’s premier has said.

  Premier Li Keqiang told lenders to China’s private sector factories they should expect debt defaults as the world’s second largest economy encounters “serious challenges” in the year ahead.

  Speaking after the annual session of the national people’s congress, Li Keqiang said: “We are going to confront serious challenges this year and some challenges may be even more complex.” He told lenders to China’s private sector factories they should expect debt defaults.

  Li said China must “ensure steady growth, ensure employment, avert inflation and defuse risks” while also fighting pollution, among other tasks.

” So we need to strike a proper balance amidst all these goals and objectives,” he added. “This is not going to be easy,” he said.

  Li’s warning followed the failure of Shanghai Chaori Solar Energy to make a payment on a 1bn yuan (£118m) bond last week. The default was the first of its kind for China and widely seen as pointing to the end of 11th-hour government bailouts for troubled enterprises.” “

 

The Guardian has the details

 

 

 

 

 

 

 

“Soros Put” Hits Record As Billionaire’s Downside Hedge Rises By 154% In Q4 To $1.3 Billion

 

 

 

 

” A curious finding emerged in the latest 13F by Soros Fund Management, the family office investment vehicle managing the personal wealth of George Soros.

  The second one is that the “Soros put”, a legacy hedge position that the 83-year old has been rolling over every quarter since 2010, just rose to a record $1.3 billion or the notional equivalent of some 7.09 million SPY-equivalent shares. Since this was an increase of 154% Q/Q this has some people concerned that the author of ‘reflexivity’ and the founder of “open societies” may be anticipating some major market downside.”

 

   We’re not financiers but putting this together with the news of China and Japan shedding T-bills and bankers dropping like flies makes one wonder .

Tyler Durden explains

 

 

 

 

 

 

 

 

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