Tag Archive: Economy


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

 

 

 

 

 

 

 

 

 

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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

 

 

 

 

 

 

 

 

Obama’s New Clean Coal Rules Will Increase Energy Costs By 70%-80%

 

 

 

    On this one we cannot say we weren’t warned … “… under my plan energy prices will necessarily skyrocket … because I’m capping greenhouse gases … “

 

    Beware of the falling porcine feces ,  he told the truth , so pigs can fly .

Yet UN Recommends Another $147B Be Spent On Warming

 

 

 

 

” The United Nations estimates it would cost $30 billion a year to end world hunger. That sounds like a lot, but the world spent more than ten times that amount in 2012 on global warming mitigation, according to a recent Climate Policy Initiative (CPI) study.

  And the UN says the world needs to spend even more on global warming mitigation. Much more.

  According to the Reuters analysis of the Summary for Policymakers of the United Nations Intergovernmental Panel on Climate Change’s Fifth Assessment Report, due to be released this April, the UN is calling on the world to invest an extra $147 billion a year in wind, solar, and nuclear power from 2010 to 2029. If we add that figure to CPI’s measure, the UN wants us to spend approximately $506 billion a year to mitigate global warming.”

 

     Obviously it’s all about the benjamins and little to do with solving problems . If thirty billion would solve a real , known , provable problem like hunger , yet the UN would rather have us spend nearly seventeen times that on an issue who’s legitimacy is questionable then you just know it because someone(s) will get much richer off the climate change spending than could do so by feeding the hungry . 

 

” According to the UN, this amount would end world hunger for nearly 20 years.

  It’s important to ask what sort of return we can expect from these investments. As the Nongovernmental International Panel on Climate Change reports, the human effect on climate “is likely to be small relative to natural variability, and whatever small warming is likely to occur will produce benefits as well as costs.” “

 

   Actually , we know the sort of return we will get for our “investment” … nada , zip , zilch … Some fat-cat cronies of Mr Carbon-Tax , the Almighty AlGore would undoubtably see a handsome return while the average citizen just gets lighter in the wallet .

 

Continued here

 

 

 

 

 

 

 

 

Pending Homes Sales Plunge, Surprising Economists

 

 

 

 

” This pending home sales index fell to 92.4 from a downwardly revised 101.2 in November. These signed contracts are an indicator of sales in January and February, and are at the lowest level since October 2011.

  December pending home sales drop 8.8% YOY CNBC’s Diana Olick says the National Association of Realtors reports December pending home sales dropped 8.7 percent. The high drop is contributed to exceptionally bad winter weather.

  All four major regions in the U.S. saw declines. Of these, the Northeast saw the steepest fall while the Midwest’s drop was smallest in December from the month before.”

 

See related “recovery” story : Jobless Claims Jump As Growth Slows
More at CNBC

 

 

 

 

 

 

 

 

 

 

 

 

 

The  United States Of Hunting From Wide Open Spaces 

 

 

united-states-of-hunting-info

 

 

 

” The infographic kicks things off with the Grandfather of American hunting, Teddy Roosevelt, and a great historic quote of his. From there, well, you know what an infographic is. Some of the numbers are pretty impressive: $10.4 billion in travel expenses? That’s pretty significant.

  Take a look at the rest of the facts and figures in the infographic, and be sure to click on the image for a larger, zoomable version.”

 

 

Thanks To Wide Open Spaces & Bass Pro Shops

 

 

 

 

 

 

 

 

Majority Say Obama Administration Is Incompetent And Obama Is Not Even Paying Attention

 

 

” A clear majority of the American people say that the Obama administration is not competent to manage the affairs of the U.S. government, according to a Quinnipiac poll released Wednesday.

  Those who believe the Obama administration is incompetent weigh in at a clip of 53-42 – a margin of 11 points. In addition, more people believe that the president is not even paying attention to what’s going on than the contrary: 47-45. (That may be because the president finds out about all those “phony scandals” by reading about them in the news.)

  The president gets a negative score on a number of policies, but gets a pass for his handling of the war on terror:

  • Negative 39-56 for his handling of the economy
  • Negative 36-59 for his handling of healthcare (read: ObamaCare)
  • Negative 40-49 for his foreign policy
  • Negative 39-47 on his dealing with Iran
  • Positive 48-41 for handing of terrorism “

 

 

 

 

 

 

 

MSNBC: December Jobs Report Is ‘Horrific, Awful And Ugly’

 

 

 

 

 

” Morning Joe’s crack news team did make a half-hearted stab at blaming “cold weather,” but you could tell they’re just not into the argument. The fact is there’s simply no way to spin this data as anything other than dismal. They even bemoaned the fact that the unemployment rate only went down because so many people left the workforce.  For MSNBC, that comes dangerously close to actual reporting.

  Probably the best part of the segment was the look on Mika Brzezinski’s face. Dour, downcast, and frustrated, she looks like her head’s about to explode. This may be because, like liberals everywhere, she treats each and every bit of negative news that stems from her political messiah’s administration as a personal assault.”

 

 

More at CainTV

 

 

 

 

 

 

From The Pentagon To Life In A Van

 

 

” After a 30-year military career in which he earned three graduate degrees, rose to the rank of colonel, and served as an aide to Pentagon brass, Robert Freniere can guess what people might say when they learn he’s unemployed and lives out of his van:

Why doesn’t this guy get a job as a janitor?

Freniere answers his own question: “Well, I’ve tried that.”

  Freniere, 59, says that his plea for help, to a janitor he once praised when the man was mopping the floors of his Washington office, went unfulfilled. So have dozens of job applications, he says, the ones he has filled out six hours a day, day after day, on public library computers.

  So Freniere, a man who braved multiple combat zones and was hailed as “a leading light” by an admiral, is now fighting a new battle: homelessness.”

Continued …

 

 

 

 

 

 

 

Libertarian Businessman Says Goodbye To California With The New Year

 

 

 

” Libertarian businessman and park privatization advocate Warren Meyer is celebrating the new year by getting the heck out of California, like so many other businesses. He posted the many reasons why it’s so hard to do business in the Golden State, particularly in Ventura County, on his blog. Here’s a sampling of some of the reasons:

  • It took years in Ventura County to make even the simplest modifications to the campground we ran.  For example, it took 7 separate permits from the County (each requiring a substantial payment) just to remove a wooden deck that the County inspector had condemned.  In order to allow us to temporarily park a small concession trailer in the parking lot, we had to (among other steps) take a soil sample of the dirt under the asphalt of the parking lot.   It took 3 years to permit a simple 500 gallon fuel tank with CARB and the County equivalent.   The entire campground desperately needed a major renovation but the smallest change would have triggered millions of dollars of new facility requirements from the County that we simply could not afford.”

 

Reason has more

 

Illustration by A F Branco

 

 

 

 

 

 

How Many Will Crash By November 2014?

 

 

2013JobGrowthVs1983to1988

 

 

” As 2014 begins, President Barack Obama’s approval rating is at its lowest point in his five-year tenure. Imagine where it would be if the establishment press treated him the way it did George W. Bush.

The president’s media apparatchiks are propping up what remains of the president’s popularity with five myths.

1. The economy has become strong, and is getting stronger.

  Media reports have been calling recent job gains “robust.” Hardly. 2013′s estimated job growth of almost 2.4 million is still only 60 percent of what was achieved annually on a population-adjusted basis for a full six years during the 1980s. (See chart below.)

  Job growth should be far greater, because there is still so much ground to make up from the disastrous POR (Pelosi-Obama-Reid) economy-driven recession of 2008-2009.

  It’s bad enough that payroll employment is still 1.3 million below its January 2008 peak. It’s worse that employment in the Household Survey is 2 million shy of where it was in that same month. If we’re lucky and this plodding progress continues, it will have taken almost seven years for that more comprehensive measure of employment to return to where it was before the recession began — and several more years, if ever, before a recovery in employment catches up to eligible adult population growth.”

 

 

PJMedia has more

37 Reasons The Media Is Lying To You About A “Recovery”

 

 

 

 

“If you repeat a lie often enough, people will believe it.” Sadly, that appears to be the approach that the Obama administration and the mainstream media are taking with the U.S. economy. 

   They seem to believe that if they just keep telling the American people over and over that things are getting better, eventually the American people will believe that it is actually true. On Friday, it was announced that the unemployment rate had fallen to“7 percent”, and the mainstream media responded with a mix of euphoria and jubilation. For example,one USA Today article declared that “with today’s jobs report, one really can say that our long national post-financial crisis nightmare is over.” But is that actually the truth? As you will see below, if you assume that the labor force participation rate in the U.S. is at the long-term average, the unemployment rate in the United States would actually be 11.5 percent instead of 7 percent. There has been absolutely no employment recovery. The percentage of Americans that are actually working has stayed between 58 and 59 percent for 51 months in a row. But most Americans don’t understand these things and they just take whatever the mainstream media tells them as the truth.”

 

 

 

 

 

 

 

 

 

10 Life Hacks You Need To Know For Christmas!

Remington Arms Wins Contract As Departure Rumors Continue

 

 

” The Mohawk Valley firearm manufacturer Remington Arms has won a contract worth nearly $50 million supplying the Philippine military. The contract comes amidst lingering concerns the factory will leave the state.

  Remington will provide 50,000 R4 carbine rifles to the Philippine defense forces by the end of next year. Rep. Richard Hanna, (R – Barneveld), said the work on the rifles will be done in upstate New York. “

 

 

   Remington would do all NY gun owners a favor if the packed up and left the state after nearly 200 years . There would be much sympathy for the people of upstate Ilion and the surrounding area as their jobs go south , but enough is enough . The policies of the ruling class in this state have been driving business out for as long as anyone can remember .

Unfortunately the manufacturing jobs that have fled the state in droves have significantly more impact on the more conservative voting people who live far from the major metropolis of New York City while the state government is primarily controlled by the liberal voters in the city and it’s immediate environs . Thus nobody in charge , Cuomo et al , give a damn about the flyover country that exists , even in NY .

 

 

  ” The law’s passage sparked a flurry of approaches from other states courting the gun maker to leave New York. Rumors of the factory moving south have been constant, as it was reported in August Remington’s corporate owners were scouting sites in Tennessee.

  Remington’s parent company, North Carolina-based Freedom Group, has been fairly mum on the prospect.

  Some smaller gun makers in New York have already packed up and left this year.”

 

 

 

 

 

 

 

 

 

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