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Latest Articles: United States News
Homeownership Now At Lowest Level Since Q1 2000 (The Obama Depression)
Post Date: 2010-04-26 16:47:17 by no gnu taxes
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The Census Bureau reported the homeownership and vacancy rates for Q1 2010 this morning. The homeownership rate declined to 67.1%. This is the lowest level since Q1 2000. The homeownership rate increased in the '90s and early '00s because of changes in demographics and "innovations" in mortgage lending. The increase due to demographics (older population) will probably stick, so I've been expecting the rate to decline to the 66% to 67% range - and not all the way back to 64% to 65%. The homeowner vacancy rate was 2.6% in Q1 2010. A normal rate for recent years appears to be about 1.7%. This leaves the homeowner vacancy rate about 0.9% above normal. This data is ...
“Economists: The Stimulus Didn’t Help” (The Obama depression)
Post Date: 2010-04-26 15:10:41 by no gnu taxes
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“The recovery is picking up steam as employers boost payrolls, but economists think the government’s stimulus package and jobs bill had little to do with the rebound, according to a survey released Monday” by the National Association of Business Economics. “Economists: The Stimulus Didn’t Help” is the headline from CNN Money. The vast majority of economists shared that conclusion. Nobel Prize winning economist Gary Becker says that President Obama’s policies are delaying economic recovery. Obama falsely claimed that the $787 billion stimulus package was needed to prevent “irreversible decline,” but the Congressional Budget Office admitted that ...
U.S. Stocks Cheapest Since 1990 on Analyst Estimates [Full Thread]
Post Date: 2010-04-26 15:05:37 by war
73 Comments
April 26 (Bloomberg) -- Even after the biggest rally since the 1930s, U.S. stocks remain the cheapest in two decades as the economy improves. Profit estimates for Standard & Poor’s 500 Index companies from Apple Inc. to Intel Corp. and CSX Corp. climbed 9.1 percent on average in April through the end of last week, twice the gain in their prices and the largest monthly increase since at least 2006, data compiled by Bloomberg show. The benchmark gauge for American equities is trading at 14.2 times forecasts for its companies’ earnings, lower than any time since 1990, except for the months after Lehman Brothers Holdings Inc. collapsed. Income is beating analysts’ estimates ...
An In-depth Look at how Obama has Slowed U.S. Economic Recovery (The Obama Depression)
Post Date: 2010-04-26 15:04:45 by no gnu taxes
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You may here data saying that the United States is making a rebound economically, with reports citing unemploymentnot rising and the American GDP increasing. Hearing these sound-bites, devoid of context, some might think that the United States is recovering brilliantly under President Obama. But I hate to be the one to break it to them, but there are reasons the U.S. economy is recovering, and it's no thanks to President Obama. Before I go into the data I will state second things from the outset: first, the information I am using are facts from the International Monetary Fund and the Bureau of Labor Statistics(aggregated through this website). Second, the United States' economy is ...
The Obama Depression Helps GOP Against Democrats
Post Date: 2010-04-26 13:37:20 by no gnu taxes
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Notch one more victim of the recession: With crucial midterm elections nearing, Democrats have lost the advantage they've held for years as the party the public trusts to steer the economy. The timing could be fortunate for the Republicans. With jobs and the economy dominating voters' concerns, the GOP will wield the issue as a cudgel in the battle to grab control of at least one chamber of Congress this November and weaken President Barack Obama. "The number one question on voters' minds is, 'Where are the jobs?'" said Ken Spain, spokesman for the House Republican campaign organization. "Republican candidates on the campaign trail will ask one very ...
Housing Crash Update:There’s A World of Pain Ahead (The Obama Depression)
Post Date: 2010-04-26 13:27:24 by no gnu taxes
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The brief period of stabilization in housing appears to be over and the next leg-down has begun. Mortgage rates are edging higher, foreclosures are on the rise, and the government programs that supported the sector, are being phased out. The uptick in bank-owned properties (REO) is adding to surplus inventory and pushing down prices. A recently released report from First American CoreLogic shows that “distressed sales accounted for 29 per cent of all sales nationwide.” Nearly one-third of all home sales are distressed REOs. Also, according to a report from Clear Capital, “Home prices nationally have dropped 3.9 percent quarter to quarter, the first quarterly drop in nine ...
Foreclosure filings hit a new record (The Obama depression)
Post Date: 2010-04-26 13:24:34 by no gnu taxes
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Peninsula-area foreclosure filings hit a new high last month. In March, 379 foreclosure filings were reported on properties on the Peninsula and Middle Peninsula and in Isle of Wight County, according to RealtyTrac, a national foreclosure-monitoring service. That's up 43 percent from March 2009. March's total beat the previous record of 361 filings reported in February and November. March was also a record-breaking month for foreclosures nationally. Filings were up 8 percent from March 2009, according to the report. Meanwhile, home sales also surged in March, as time runs out on federal home-buying tax credits. Seasonally adjusted existing-home sales were up 16.1 percent in ...
"Need A Job? Good Luck If You're Not in the Big Club" (The Obama depression)
Post Date: 2010-04-26 13:17:01 by no gnu taxes
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"Boeing CEO Jim McNerney succinctly summarized a recent study by Northwestern University's Center for Labor Market Studies regarding unemployment rates for different income brackets: The Center analyzed the labor conditions faced by income-grouped U.S. households during the fourth quarter of 2009. In the face of one of the worst economic environments in memory, those in the highest income groups had nearly full employment levels, with just a 3.2 percent unemployment rate for households with over $150,000 in income and a 4 percent rate in the next-highest income group of $100,000-plus. The two lowest-income groups - under $12,500 and under $20,000 annually - faced unemployment rates ...
Obama’s jobs Depression is aimed at his biggest rival: white males
Post Date: 2010-04-26 11:39:08 by no gnu taxes
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Are we willing to admit our current jobs Depression really belongs to the white American male? Are we willing to recognize the real success of the Tea Party movement belongs to frustrated, out of work white American males at home and on computers and fed up with how this society is treating them? Career counselor Marty Nemko who has advised 2,000 people, says, “My white male clients have a tougher time getting hired than do women or minorities.” He says the “77 cents on the dollar wage disparity” for women is a misconception. Variables peculiar only to men include work hazards, tougher job evaluations, the specter of discriminatory companies, longer commute times and ...
Decision Points by President George W. Bush will be published on November 9, 2010
Post Date: 2010-04-26 09:21:48 by no gnu taxes
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Decision Points, by George W. Bush, will be published on November 9, 2010, by Crown Publishers. This groundbreaking new brand of memoir will be centered on the fourteen most critical and historic decisions in the life and public service of the 43rd President of the United States. The book will be released simultaneously in the U.S. and Canada in hardcover, e-book, and audio formats. The announcement was made today by Tina Constable, Vice President, Publisher, Crown Publishers, who also unveiled the book jacket, which is available at www.randomhouse.com/crown. Since leaving the Oval Office, President Bush has given virtually no interviews or public speeches about his presidency. Instead, ...
The Obama Regime Has Lost Chicago -- It's Time For the Us to Pull Out and Stop Wasting Taxpayer Money on This Futile Effort
Post Date: 2010-04-26 08:53:18 by no gnu taxes
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Those living in violence-plagued neighborhoods say their streets have turned into a war zone. Now two Chicago lawmakers say it's time to treat those areas as if a battle was really being waged there, especially when it comes to giving the police the help they need: the National Guard. Twenty-month-old Cynia Cole was shot to death in the back seat of a car, the victim of a bullet intended for her father. "This is a child! How can you live with yourself after you've done this?" asked her grandmother Cynthia Lyons, a day after the killing. Cynia is among the 113 Chicagoans killed by violence so far this year, in a city where police officers are admittedly stretched to ...
Prompt Global Strike Missile Could Hit Anywhere On Earth In An Hour
Post Date: 2010-04-25 16:03:24 by Brian S
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HAUNTED by the memory of a lost opportunity to kill Osama Bin Laden before he attacked the World Trade Center in New York, US military planners have won President Barack Obama’s support for a new generation of high-speed weapons that are intended to strike anywhere on Earth within an hour. Obama’s interest in Prompt Global Strike (PGS), a nonnuclear weapons programme, has alarmed China and Russia and complicated nuclear arms reduction negotiations. White House officials confirmed last week that the president, who won the Nobel peace prize last year, is considering the deployment of a new class of hypersonic guided missiles that can reach their targets at speeds of Mach 5 — ...
Oil Rig Oil Spill - UPDATE: Massive Underwater Oil Spill From Deepwater Horizon Rig Exposion
Post Date: 2010-04-25 13:46:30 by Brian S
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UPDATE: There is a major oil spill from the ruptured well of a large rig that exploded and sank in the Gulf of Mexico earlier this week, the US Coast Guard said Saturday. The Coast Guard estimated that up to 1000 of barrels of oil, or 42,000 gallons, were spewing each day from a drill pipe, prompting concerns of major damage to Louisiana's fragile ecosystem, already stressed by hurricanes and coastal erosion. Officials confirmed the discovery a day after the Coast Guard said that no oil appeared to be leaking from the well head. Coast Guard Eighth District commander Rear Admiral Mary Landry told reporters the leak probably began on Thursday, when the rig sank two days after an ...
The Kenyan Takes a Nose Dive in the Latest Rasmussen Poll
Post Date: 2010-04-25 09:53:38 by no gnu taxes
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The Rasmussen Reports daily Presidential Tracking Poll for Sunday shows that 29% of the nation's voters Strongly Approve of the way that Barack Obama is performing his role as President. Forty-two percent (42%) Strongly Disapprove giving Obama a Presidential Approval Index rating of -13 (see trends). Overall, 45% of voters say they at least somewhat approve of the President's performance. Fifty-four percent (54%) disapprove.
'Holocaust' Tax Dodger Jailed For Hiding Funds In UBS
Post Date: 2010-04-24 19:54:35 by Brian S
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A US watchmaker said he hid funds in a Swiss bank account because of "survival behaviour" learned from the Holocaust. The 65 year-old watchmaker, Jack Barouh, argued his secretive behaviour was motivated by his fear as a Jew of persecution and sudden loss. He is just one of many US citizens being tried for tax evasion who held secret accounts at the Swiss bank, UBS. The bank last year admitted to the US government it had hundreds of such accounts. Some of these may have aided US citizens avoid paying tax. 'Hide and hoard' Mr Barouh had pleaded guilty in February to filing a false tax return which did not include his assets held in a range of non-US accounts. ...
“I thought about asking a guy who snorted cocaine and got arrested for DUI when he was 30 to come and speak to our kids, but President George W. Bush was not available.”
Post Date: 2010-04-24 13:00:19 by Skip Intro
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A Henry County parent is complaining he wasn’t notified when Atlanta rapper T.I. was invited to speak to his children’s school. And he was shocked by the response the school’s principal gave him. Tom Myers declined to talk to an AJC reporter about his concerns, but told WSB that he wanted to know ahead of the March 5 anti-bullying assembly that the rapper would be appearing at the school. Myers was upset that T.I., a convicted felon also known as Clifford Harris, was speaking to students at Woodland Middle School. “Had I had the opportunity to not let them [my children] go, I would have had them sit out,” he told WSB. T.I. served a year-long prison sentence ...
Navy To Name Next Ship After Late Rep. John Murtha
Post Date: 2010-04-24 12:51:38 by Brian S
1 Comments
(04-23) 19:42 PDT Johnstown, Pa. (AP) -- The Navy is naming its next amphibious ship after the late western Pennsylvania congressman John Murtha. Navy Secretary Ray Mabus made the announcement Friday at the Johnstown-Cambria County Airport. Murtha's family and House Speaker Nancy Pelosi were in attendance. Murtha, a former Marine, represented the Johnstown area for more than 35 years. He died in February at age 77 from complications of gallbladder surgery. The USS John P. Murtha will be a 10th San Antonio Class Amphibious Transport vessel. With a crew of more than 360, it will transport 700 Marines, their equipment and supplies. The keel for the ship is expected to be laid in about ...
GOP Feuding Casts Shadow Over Fla. Senate Race
Post Date: 2010-04-24 12:45:10 by Brian S
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(04-24) 08:56 PDT Tallahassee, Fla. (AP) -- Now that Republicans have made him the U.S. Senate front-runner, Marco Rubio is trying to weather potentially damaging revelations about his credit card use, double billing for airfare and murky finances. A few months ago, the former Florida House speaker seemed an unlikely bet to beat Gov. Charlie Crist in the party's Senate primary. And in those months, Rubio's lavish spending has come under scrutiny of federal investigators. In that same stretch, his poll numbers have soared, carrying him well ahead of Crist and forcing the once seemingly unbeatable governor to consider running as an independent for Senate. Crist has until Friday to ...
Boy Scouts of America Must Pay $18.5 Million In Abuse Case
Post Date: 2010-04-24 12:41:33 by Brian S
3 Comments
PORTLAND, Ore. - A jury on Friday ordered the Boy Scouts of America to pay $18.5 million to a man sexually abused by a former assistant Scoutmaster in what is believed to be the largest such award against the organization. Lawyers for Kerry Lewis had asked the jury to award at least $25 million to punish the Boy Scouts for what the jury had already agreed in the first phase of the trial was reckless and outrageous conduct. They also noted the Boy Scouts had never apologized to Lewis, who said Friday at a news conference that the verdict shows that "big corporations can't be above the law." Lewis added that an apology "would mean something to me, but I'm not ...
Americans: "The Obama Government Sucks"
Post Date: 2010-04-24 10:31:25 by no gnu taxes
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Just thirty-three percent (33%) of U.S. voters say the country is heading in the right direction, according to a new Rasmussen Reports national telephone survey. Sixty One percent (61%) say it is headed in the wrong direction.
Strategery: How George W. Bush Is Defeating Terrorists, Outwitting Democrats, and Confounding the Mainstream Media
Post Date: 2010-04-23 13:30:55 by no gnu taxes
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If, like me, you often feel that you have fallen down the rabbit hole when you watch most newscasts or read most big city newspapers, this book will come as a delightful return to reality. It is like stepping out of the looking glass back into a world of normality (not normalcy) and where facts actually do connect and emotion doesn’t prescribe the framework for a desired reality. However, before I understood that the author covers the Whitehouse for the Washington Times, the title had me suspicious that the book was bashing Bush. The phrase, as you probably know, comes from a brilliant SNL sketch of a Presidential debate where Will Ferrell as Bush uses the word “strategery” ...
Obamacrapcare will increase medical costs
Post Date: 2010-04-23 12:54:48 by no gnu taxes
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President Barack Obama's health care overhaul law is getting a mixed verdict in the first comprehensive look by neutral experts: More Americans will be covered, but costs are also going up. Economic experts at the Health and Human Services Department concluded in a report issued Thursday that the health care remake will achieve Obama's aim of expanding health insurance — adding 34 million to the coverage rolls. But the analysis also found that the law falls short of the president's twin goal of controlling runaway costs, raising projected spending by about 1 percent over 10 years. That increase could get bigger, since Medicare cuts in the law may be unrealistic and ...
GM Repaid TARP Loans With TARP Money
Post Date: 2010-04-23 10:37:36 by no gnu taxes
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A Republican senator is questioning General Motors’ claim that it has repaid its taxpayer-funded loans in full. Senator Chuck Grassley is asking Treasury Secretary Tim Geithner to justify those claims. According to the Iowa Republican, GM has repaid its TARP (taxpayer-funded bailout) loans using other TARP funds. The automaker – which is 61 percent owned by the U.S. and 12 percent owned by Canada -- announced on Wednesday that has fully repaid the $6.7-billion in loans it received from the U.S. and Canadian governments. “GM is able to repay the taxpayers in full, with interest, ahead of schedule, because more customers are buying vehicles like the Chevrolet Malibu and ...
Could 2010 Be a Big Year for George W. Bush?
Post Date: 2010-04-23 09:40:57 by no gnu taxes
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While he’s kept his profile remarkably low since leaving office, President George W. Bush has been thrust back into the spotlight of late, both with and without his consent. It could all culminate in a spirited mid-term election campaign later this year that could see Bush take to the campaign trail in a way the world hasn’t seen since 2004. While President Bush hasn’t made any commitment to any campaign at any level, his first comments relating to the upcoming mid-term elections took place in February. It was in a Florida meeting with brother, and former Florida Gov, Jeb that George W. Bush apparently asked “who the hell is Marco Rubio?” It was a memorable quote ...
Oil Slick Spreads From Sunken Rig In Gulf of Mexico; "Has Potential To Be A Major Spill"...
Post Date: 2010-04-22 19:34:31 by Brian S
8 Comments
(CNN) -- A 1-by-5-mile sheen of crude oil mix has spread across the Gulf of Mexico's surface around the area where an oil rig exploded and sank, a Coast Guard lieutenant said Thursday. "This is a rainbow sheen with a dark center," Coast Guard Rear Adm. Mary Landry told reporters Thursday afternoon. Officials do not know whether oil or fuel are leaking form the sunken Deepwater Horizon rig and the well below, but BP Vice President David Rainey said "it certainly has the potential to be a major spill." BP PLC operates the license on which the rig was drilling. A remotely-operated vehicle is surveying the area and cleanup efforts are already under way, Landry said. ...
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