The company -- which plans to add 50 new employees, doubling its workforce -- received a $32 million Recovery Act grant to help launch the assembly plant. "At this plant, you are doing more than building new vehicles," Obama said. "You're helping us to... Full Article at The Washington Post
Thursday, July 8, 2010 Baltic Dry Rate Continues To Plunge The Baltic Dry, which contrary to what some may claim, actually is one of the best leading indicators on global trade and thus the health of the economy, continues to plunge, and is now below 2000, hitting fresh 14 month lows, at 1940. It is now at the levels last seen during the March 2009 "generational" low, and just after the Lehman bankruptcy. Yet futures are up as initial claims beat expectations by 6,000 very statistically relevant people.
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Get reasdy for gold at $600.
Oil at $30.
DJIA at 5400.
by Xmas at least.
Oh Yeah. And I forgot this:
Home Prices Could(WILL) Go Down Another 50% The housing market continues to deteriorate. Thursday's report on May pending home sales was down 30% from the prior month and nearly 16% vs. a year ago. The market weakness spans the country. Sales in the Northeast, Midwest and South fell more than 30%, the bright spot, the West, only fell 21%.
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The first step of the con was successfully fobbed off on the peasantry in 2001: lower the taxes paid by the most productive peasants marginally while massively lowering the effective taxes paid by the financial Plutocracy.
One Year Later, No Sign of Improvement in America's Income Inequality Problem:
Income inequality has grown massively since 2000. According to Harvard Magazine, 66% of 2001-2007's income growth went to the top 1% of Americans, while the other 99% of the population got a measly 6% increase. How is this possible? One thing to consider is that in 2001, George W. Bush cut $1.3 trillion in taxes, and 32.6% of the cut went to the top 1%. Another factor is Bush's decision to increase the national debt from $5 trillion to $11 trillion. The combination of increased government spending and lower taxes helped the top 1% considerably.
The second part of the con is to mask much of the Power Elites' income streams behind tax shelters and other gaming-of-the-system so the advertised rate appears high to the peasantry but the effective rate paid on total income is much much lower.
The tax shelters are so numerous and so effective that it takes thousands of pages of tax codes and armies of toadies to pursue them all: family trusts, oil depletion allowances, tax-free bonds and of course special one-off tax breaks arranged by "captured" elected officials.
Suddenly, fast forward twelve months, and US corn stocks are much lower than anyone thought. Lower than the lowest trade estimate. How can this be, where has it all gone? We know, or should know, what the level of exports and usage have been, so why aren't the stocks there at the end of the day?
Could it be that they were never there in the first place? Is it possible that yesterday's corn stocks numbers were simply a realignment, getting us a bit more in touch with the reality of the situation? Last year's corn crop was overstated but it's taken them until now to redress the balance?
It's not difficult to imagine, we are after all talking about the same guys who to this day STILL have Argy wheat production for 2009/10 at 9.6 MMT, when just about everybody else (including the whole of Argentina) has it at around 7.5 MMT. Now 2.1 MMT difference might not sound like a lot, so let's call it almost 22% instead. Just imagine if 22% of the world's grain stocks didn't really exist, they'd just been overstated and the USDA are just a bit too embarrassed to correct it.
So if last year's US record corn crop was overestimated, it seem a pretty fair assumption that the record soybean crop was too. Wednesday's ending stocks there also came in at lower than the lowest trade estimate. What's going on here, stealth accounting? And have they decided to hit us with all the bad news on one go here, or are there more overstates to be clawed back in the future too?
Then 5 years after the Peak of Energy Growth. Destroy All prospects of future Deepwater Drilling for what remains of US Oil Prospects.
THEN, sell ALL grain produced to export to cover the deficit.
And Lie about ALL of the above as a FOREIGN Criminal Syndicate destroys 35-70% of ALL Seafood in the US. Same Foreign Syndicate hiring US Coast Guard and Local LE/ Mercs to cover it's Planet Killing Crimes.
