Bits Bucket for October 5, 2015
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The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
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Are China fears keeping you up at night?
The Sidney Morning Herald
Bank risk spreads at two year highs on China fears
October 5, 2015 4:19pm
Credit markets are grappling with falling commodity prices which has pushed up the spreads for Australia’s big banks and miners
By Jonathan Shapiro
The debt of Australian banks has been caught up in the turbulence in credit markets as risk spreads move to their highest in two years.
The spike in bank spreads, which has accompanied growing fears about the impact of a slowing China and declining commodity prices, may pressure funding costs for the banks, under pressure to raise more long-term debt from the wholesale markets.
Last week, the cost of insuring against a default of a major Australian bank spiked above 100 basis points, the first time this key indicator of wholesale costs has traded in triple digits since September 2013.
Credit default swap spreads have now jumped by almost 55 per cent since late July, when contracts traded hands for under 60 basis points, and almost 30 per cent from mid-September.
Australian banks, which source around $100 billion of funds annually from wholesale markets, have historically been vulnerable to changing conditions.
…
The Telegraph
Finance
Fears of a Chinese ‘hard landing’ trigger mass exodus from emerging markets
Emerging markets face huge capital outflows this year
By Peter Spence, Economics Correspondent
2:55PM BST 01 Oct 2015
Investors are pulling their money out of emerging markets in the biggest net outflow of capital since 1988
Investors are on track to pull $541bn (£357bn) out of emerging markets this year, as fears that China is headed for a ‘hard landing’ have prompted the greatest flight for safety since 1988.
The Institute of International Finance (IIF) said that the net outflows would most likely continue next year, as the prospect of US interest rate rises threatens to dampen the emerging market outlook further.
Charles Collyns, managing director and chief economist at the IIF, said that “emerging markets have seen sharp losses in recent months”. The IIF’s forecasts came as economists warned that emerging markets could face a brutal slowdown over the next 12 months.
The carnage in investments marks a huge reversal from 2014, when investors poured a net $32bn into emerging markets.
…
Professor Bear
The Institute of International Finance (IIF)
Wiki and IIF the website is interesting reading. Homework tonight. Thanks
Business Insider
Finance
China’s collapsing housing market is a massive threat to the economy
Lianna Brinded
Oct. 2, 2015, 6:39 AM
Labourers work at an upside-down house under construction at Fengjing Ancient Town, Jinshan District, south of Shanghai, March 17, 2014.
China’s economy is having a rough ride at the moment and it’s only get to get worse.
China’s economy grew at its slowest rate in 24 years in 2014, just 7.4%. Its stock market has fallen around 40% since hitting multi-year highs in mid-June. And the government is burning through cash reserves to prop it up. China’s debt is also twice the size of its GDP.
Now it looks like we can add a slowdown in the countries housing market to the list of economic woes too.
Bank of America Merrill Lynch analyst David Cul and his team said in a note on Friday that the “potential unraveling of the housing market is one of the four factors we monitor closely that could trigger financial instability by our assessment.”
The team warned that effectively no one is buying houses in China and this could pour even more cold water on the rapidly cooling economy.
Here’s an excerpt from the BAML, titled “Why we should be concerned about the housing market in China”, (emphasis ours):
“Housing sales in Sept, seasonally the strongest selling month, appear fairly disappointing. Up until Sept 27th, primary market transaction volume barely grew MoM (up 0.1%) in the top 14 cities tracked by CREIS. Sales volume growth outside these cities during this period should be even weaker given top tier cities have been the more buoyant markets since late 2014.
Weak sales in the strongest housing markets during the peak season is particularly concerning this time, considering 1) money growth has been supercharged - M2 up 13.3% YoY in Aug vs. nominal GDP growth at around 7% in 2Q - and there are few alternative perceived “safe” investment areas and 2) there have been more frequent property friendly policies in recent quarters, including rate and RRR cuts … Developers have stayed cautious so far, with new starts staying negative YoY, again different from the previous round.”
What the bank is saying is conditions are great for the house market right now — there’s plenty of money around and the government is actively encouraging people to buy property. But the growth in activity isn’t following.
…
Marketwatch dot com
World Bank sees China slowing over next 2 years
By Gaurav Raghuvanshi
Published: Oct 5, 2015 3:28 a.m. ET
SINGAPORE–The World Bank expects China’s economy to grow 7.0% this year and gradually slow over the next two years, according to a report released Monday.
“China has sufficient policy buffers and tools to address the risk of a more pronounced slowdown, including relatively low public debt levels, regulations restricting savings outside the banking system and the state’s dominant role in the financial system,” the World Bank said in its East Asia and Pacific Economic Update.
…
This is who real journalists are, this is what real journalists do:
http://www.infowars.com/cnn-turns-mixed-race-oregon-shooter-into-a-white-man
Real journalists do not report “news” they script narratives.
Progressives own this sh*t, Obama owns this.
Real journalists do not report “news” they script narratives.
The guys who used to run Pravda would be proud.
The Bernank says there should have been more prosecutions of individuals in the financial sector as opposed to pursuit of logical constructs - companies - in his new auto-hagiography.
He claims that the Fed is not a law enforcement agency so its hands were tied, but that’s a bit disingenuous.
The frenzy and enthusiasm with which they became the Muppet Of Last Resort, paying to make the FIRE sector profitable, and the sheer power of the organization with the world’s other central banks, combined with the buffoonery, ineffectuality and corruption of Congress, gave them a tremendous amount of influence over the government, including its criminal justice arm.
Holder had no interest in poisoning his post-government service career, nor did Breuer - they both are now at the big FIRE defense firm, Covington and Burling.
The fact that the government is extracting large dollar values from companies (logical constructs) while not penalizing individuals seems like more of an opportunistic taxing operation rather than a law enforcement operation. Make it look like you’re doing something, get something you want, while carefully avoiding causing any real change.
Bernanke: More execs should have faced prosecution for 2008 crisis - USA Today
Former Federal Reserve Chairman Ben Bernanke said in a newspaper interview published on Sunday that more corporate executives should have been prosecuted for their actions leading up to the 2008 financial crisis.
Bernanke told USA Today that the U.S. Justice Department and other law enforcement agencies focused on investigating or indicting financial firms.
“But it would have been my preference to have more investigation of individual action, since obviously everything that went wrong or was illegal was done by some individual, not by an abstract firm,” Bernanke was quoted as saying.
“The Department of Justice and others are responsible for that, and a lot of their efforts have been to indict or threaten to indict financial firms,” Bernanke added. “Now a financial firm is of course a legal fiction; it’s not a person. You can’t put a financial firm in jail.”
http://www.reuters.com/article/2015/10/04/us-bernanke-financialcrisis-idUSKCN0RY0X420151004
All cultures are not equal.
And why the 2nd Amendment must be destroyed by our rulers.
——————-
ISIS executes 12 Christians- 2 women raped in public, beheaded—for refusing to renounce Jesus
Christian Today | 10-5-2015 | Shianee Mamanglu-Regala
Islamic State militants have brutally murdered 12 Christians, including the 12-year-old son of a Syrian ministry team leader who had planted nine churches, for refusing to renounce Jesus Christ and embrace Islam instead, the Gospel Herald reported.
The horrific executions took place last Aug. 28 in an unnamed village outside Aleppo, Syria, according to Christian Aid Mission, a humanitarian group that assists indigenous Christian workers in their native countries.
“In front of the team leader and relatives in the crowd, the Islamic extremists cut off the fingertips of the boy and severely beat him, telling his father they would stop the torture only if he, the father, returned to Islam,” Christian Aid said, according to Gospel Herald.
“When the team leader refused, relatives said, the ISIS militants also tortured and beat him and the two other ministry workers. The three men and the boy then met their deaths in crucifixion.”
“They were killed for refusing to return to Islam after embracing Christianity, as were the other eight aid workers, including two women,” Christian Aid said in its statement.
The eight were reportedly brought to a separate site in the village and asked if they would also return to Islam. But after they refused the offer, the women, ages 29 and 33, “were raped before the crowd, summoned to watch, and then all eight were beheaded.”
Cool story bro.
Sheldon Adelson is most certainly NOT a Christian. Will you vote for the candidate that he purchases?
This should be considered in the context of that drone attack on the MSF hospital in Afghanistan. People all over the world probably see that as an manifestation of American culture.
What, what the do?
Rape and behead Syrian Christians to “make up” for an American attack on hospital (that the Taliban were using as cover and firing from) two months into the future?
Put down the kool-aid.
I didn’t claim that the ISIS atrocities were committed to “make up” for the atrocities committed by the USA.
I think the gist was: “ISIS beheads people, so it’s ok to bomb hospitals. Heck, we should bomb MORE hospitals! That’ll show ‘em!”
bananas: “All cultures are not equal.”
Bought into and advancing the cause of demonizing one quarter of humans on earth. You need help.
Aren’t EOs fun? Obama showed us the way.
She already promising to violate the Constitution, which she would be sworn to protect.
———————
Hillary Says She Will Use Executive Powers to push for Tighter Gun Control
DailyMail | 10/05/2015 | Associated Press
Hillary Clinton has said she will use executive powers to tighten gun control if she makes it to the White House.
Just days after the deadly shooting in Oregon, the Democratic hopeful plans to unveil new measures aimed at strengthening background checks on gun buyers and eliminating legal immunity for sellers.
During a day-long campaign swing through New Hampshire, Clinton’s campaign said she plans to propose a repeal of legislation that shields gun manufacturers, distributors and dealers from most liability suits, even in the case of mass shootings like the one that killed nine students and teachers at a community college on Thursday.
————————————
How Hillary Plans to Tackle Gun Control
ABC News | October 5, 2015 | Liz Kreutz
“… Clinton’s plan, her campaign said, will continue calls for universal background checks and for the ban of military-style assault weapons from the streets.
In addition, it will call for a crackdown on the sale of guns on the Internet and at gun shows — something Clinton will say she will even take executive action to do — in order to ensure that all gun sellers are held to the same standards as gun stores.
It will also push for legislation to prevent gun sales from going through without completed background checks (something currently dubbed a “Charleston Loophole”), and for legislation to prohibit domestic abusers and stalkers from buying and possessing guns. And it will call for repealing the Protection of Lawful Commerce in Arms Act, in order to make sure dealers and manufacturers are held accountable for negligence when crimes are committed with products they’ve sold. …”
The gun grabbers call it a loophole, but it was specifically designed that way to exclude private person sales of guns and prevent their being a master database of gun owners and sales. It’s no more a loophole than a cat is a loophole for a dog license.
To liberals and progressives:
The ENTIRE Second Amendment is a loophole.
My personal opinion is that the requirements that you need to vote should be the same requirements you need to buy a gun.
why use those 2 words?
socialist
statist
nannyist
collectivist
There’s nothing in your excerpts that indicate any plan to violate the constitution.
Just putting “Executive Order” and “Second Amendment” in the same paragraph is constitutionally dicey.
OK - who is going to see this movie (just came to theaters yesterday)?
99 Homes
Set amidst the backdrop of the 2008 housing market catastrophe, Dennis Nash, a hard-working and honest man, can’t save his family home despite his best efforts. Thrown to the streets with alarming precision by real estate shark Mike Carver, Dennis, out of work and luck, is given a unique opportunity - to join Carver’s crew and put others through the harrowing ordeal done to him in order to earn back what’s his. Delicately training his eye on the rigorous details, the reliably astute Ramin Bahrani imbues his characters with icy complexity to achieve his compassionate portrait of a man whose integrity has become ensnared within an all-too-relevant American crisis. With precision and care, Bahrani’s provocative character study applies all the cinematic tools at his disposal to explore the ethical dilemma at the heart of man’s struggle to reach higher - by whatever means necessary.
Sounds like one to wait for streaming.
Is it “go time” yet?
http://www.breitbart.com/big-government/2015/10/04/new-york-daily-news-state-dept-must-designate-nra-terrorist-organization/
No tears
Oh lookie - another NAFTA negotiated by obama.
Why does obama even need a treaty for this? The Iran deal showed us the way.
————————
Trans-Pacific Partnership Trade Deal Is Reached
NY Times | 10/05/2015 | Jackie Calmes
The United States and 11 other Pacific Rim nations on Monday agreed to the largest regional trade accord in history, a potentially precedent-setting model for global commerce and worker standards that would tie together 40 percent of the world’s economy, from Canada and Chile to Japan and Australia.
The Trans-Pacific Partnership still faces months of debate in Congress and will inject a new flash point into both parties’ presidential contests.
But the accord — a product of nearly eight years of negotiations, including five days of round-the-clock sessions here — is a potentially legacy-making achievement for President Obama, and the capstone for his foreign policy “pivot” toward closer relations with fast-growing eastern Asia, after years of American preoccupation with the Middle East and North Africa.
Mr. Obama spent recent days contacting world leaders to seal the deal. Administration officials have repeatedly pressed their contention that the partnership would build a bulwark against China’s economic influence, and allow the United States and its allies — not Beijing — to set the standards for Pacific commerce.
The Pacific accord would phase out thousands of import tariffs as well as other barriers to international trade. It also would establish uniform rules on corporations’ intellectual property, open the Internet even in communist Vietnam and crack down on wildlife trafficking and environmental abuses.
Ahhh…. I remember NAFTA ….
Following diplomatic negotiations dating back to 1990 among the three nations, U.S. President George H. W. Bush, Canadian Prime Minister Brian Mulroney and Mexican President Carlos Salinas, each responsible for spearheading and promoting the agreement, ceremonially signed the agreement in their respective capitals on December 17, 1992.[5] The signed agreement then needed to be ratified by each nation’s legislative or parliamentary branch.
And signed by Bill Clinton (D)
Funny - you left out that part.
Yep, as you left out that Bush worked on it for 3 years and signed off on it with the other two world leaders. Of course Clinton had to approve it, congress passed it.
It was Bush’s creation.
It was Bush’s creation.
But Clinton could have killed it.
Your correct Colorado….There were not enough votes in either house to override a veto…
Can you imagine the POTUS killing the previous POTUS legacy piece of legislation (NAFTA) that took 3 years and the cooperation of Mexico and Canada’s leaders and full approval of congress?
Yea! Blame Clinton for not killing the Bush mistake. …I see a pattern.
There were not enough votes in either house to override a veto…
Especially since the GOP didn’t have a supermajority. The Democrats would have fallen in line (even if some voted in favor).
“Yea! Blame Clinton for not killing the Bush mistake. …I see a pattern.”
It was in his power to do so, and he didn’t.
Looks like the Oligopoly has switched their support from the cratering loser Jeb to the equally pliant and unprincipled Marco Rubio.
http://www.telegraph.co.uk/news/worldnews/republicans/11910875/Republican-Presidential-candidates-2016.html
Rubio is even more unelectable, too young, too smarmy and 100 percent establishment. They need to float the next trial balloony.
… and the next trial balloon is here:
Report: Koch brothers taking ’serious look’ at Fiorina
It’s not looking good for the GOP. Trump has peaked, his momentum in the polls has stalled — creating an opening for an establishment candidate to fill the vacuum, but no obvious leader has emerged. Fiorina’s already established herself as a serial liar, and carries a lot of baggage from laying off 30,000 Americans while pocketing a nice big fat golden parachute.
I guess the only alternative is to vote for Hillary
Report: Koch brothers taking ’serious look’ at Fiorina
Is she now the best they can come up with? Sure, she’s jumped on the pro-life bandwagon (and I don’t believe for a second she has even a milligram of pro-life conviction in her body), but how will she attract the swing voters? Especially if the Dem campaign constantly reminds the electorate of how Carly was more than happy to offshore HP jobs while yammering that Americans don’t have a God given right to a job. And that she wrecked HP, one of America’s iconic companies.
Good heavens, she’s Romney 2.0, I guess the GOP really wants to lose; again. And there is no reason for the GOP to lose. They control both houses in congress. This election should be a slam dunk for them (it should also have been a slam dunk last time). But instead of sending in a good clean up hitter (yes, I know I switched from basketball to baseball), they’re sending in the pitcher who bats 0.000 with the bases loaded and two out.
Go GOP!
Koch brothers taking ’serious look’ at Fiorina ??
Because she will be given a lot a latitude attacking Hillary vs. a male….Thats the ONLY reason she is in the race….
“Rubio is even more unelectable…”
But he bends the knee when the chariot rolls by, and he swallows.
Win/Win for the globalist PIGS, as reported by real journalists:
http://mobile.nytimes.com/2015/10/06/business/trans-pacific-partnership-trade-deal-is-reached.html
The 0.01% thank you for bending over and grabbing your ankles, happy Monday
And it’s against U.S. law for any company on the planet to boycott Israeli companies doing business in the occupied territories.
Drudge Report links to another Social Justice Warrior™ article about toxic masculinity:
http://www.thecollegefix.com/post/24488
Hundreds of thousands of years of evolutionary biology won’t be undone because some third-wave feminist had zher feelings hurt. And remember, kidz, AF/BB. Don’t be BB, don’t be that sad looser
Best comment:
“I tell my sons very often to “man up” and that some day they will grow up to be a man. What does that mean? It means being strong, having faith in God, developing courage, being honest, loyal and responsible, and to be someone a future wife and children will be able to admire and count on. Not that being these things is easy or that a man will always be them, but a man should always be in the struggle to maintain these principles. The problem with the people discussed in this article is that they assume the rest of society is as weak-minded and dumb as they are, meaning we will all let the size of GI Joe’s biceps influence our minds and lives in some sort of meaningful way.”
Why can’t a single mom do just a good a job raising kids ? Murphy Brown did it.
Well by those standards, the goon is already done for.
Anyone cradling their guns and calling for “go time” is by definition a BB loser already.
Time to repost a golden oldie for the progressives, happy Monday
https://westernrifleshooters.wordpress.com/2012/09/03/bracken-when-the-music-stops-how-americas-cities-may-explode-in-violence/
And now back to your regularly scheduled Huffington Post links
Not to worry. Jesus will float down from heaven, and bestow assault rifles on the faithful with which to righteously dispatch the heathen mob. Then we will all have cake.
In 1992 there were 3 days of go time in LA after the Rodney King verdict. Everyone who had multiple guns was being hit up to lend them out to their unarmed buddies. Law and order broke down for 3 days then the marines and national guard finally showed up.
The cities are far from burning, so far.
Anyone cradling their guns and calling for “go time” is by definition a BB loser already.
How so? I’m not a “gun cradler” but how does being one make you a “Beta Bucks”? A BB is a chump who is only desirable as a marriage partner for his fat wallet. As Dalrock would say: their brides are women who “tired” of having sex with other (i.e. hotter) men and are now ready to “settle” for a dull guy with a good job.
Donald Trump is currently on his third wife. I think that all three were formerly models. It’s reasonable to say that his most attractive attribute is his phenomenal wealth. Does that make him a BB?
A BB is a chump who is only desirable as a marriage partner for his fat wallet.
Exactly. And if he doesn’t have a fat wallet then he’s doubly out of luck. Meanwhile, the alphas are too busy banging the chicks to worry about “go time”. Who wants go time when you’re having fun?
So which one is going to be sitting around polishing his guns and eagerly awaiting “go time”?
The kids are not alright.
Wall Street Journal - the alarming facts about millennials and debt:
http://www.wsj.com/articles/BL-258B-6282
No “pent-up demand” for $500,000 starter homes happening here.
Every other day I see some millenials opening a new craft beer brewery or bar or restaurant. Some of them seem to have plenty of money, or at least access to someone else’s money.
A lot those businesses fail too.
Agreed. But they cost a lot of money to start, and these millenials seem to have it. I assume most is from their parents, but hey, that spends too.
I met owners of one in Norfolk VA. Their product was expensive ($8 glasses of beer.) I didn’t notice that many young people there, it was more of an older crowd. The few young people that frequented it were the few that worked in the tech sector in the area.
“The kids are not alright.”
Those millennials won’t be funding the baby boomer retirements.
French employees don’t take too kindly to getting pink slips, evidently.
http://www.businessinsider.com/r-air-france-managers-flee-as-staff-storm-meeting-on-job-cuts-2015-10
has france ever not been in some phase of recession?
union land
certainly
Trente Glorieuses
Les Trente Glorieuses (French pronunciation: [le tʁɑ̃t ɡlɔʁjøz], “The Glorious Thirty”) refers to the thirty years from 1945 to 1975 following the end of the Second World War in France. The name was first used by the French demographer Jean Fourastié. Fourastié coined the term in 1979 with the publication of his book Les Trente Glorieuses, ou la révolution invisible de 1946 à 1975 (”The Glorious Thirty, or the Invisible Revolution from 1946 to 1975″). The term is derived from Les Trois Glorieuses (”The Glorious Three”), the three days of revolution on 27–29 July 1830 in France.
Over this thirty-year period, France’s economy grew rapidly like economies of other developed countries within the framework of the Marshall Plan such as West Germany, Italy and Japan. These decades of economic prosperity combined high productivity with high average wages and high consumption, and were also characterised by a highly developed system of social benefits.[1] According to various studies, the real purchasing power of the average French worker’s salary went up by 170% between 1950 and 1975, while over-all private consumption increased by 174% in the period 1950-74.[2] The French standard of living, which had been damaged by both World Wars, became one of the world’s highest. The population also became far more urbanized; many rural départements experienced a population decline while the larger metropolitan areas grew considerably, especially that of Paris. Ownership of various household goods and amenities increased considerably,[3][4][5] while the wages of the French working class rose significantly as the economy became more prosperous.
https://en.wikipedia.org/wiki/Trente_Glorieuses
The Americans gave them lots of money never to be paid back.
The Americans took care of their national defense.
The French decided to give themselves all sorts of government benefits and to stop having kids.
How do you think this will end…?
A question was posed about the past and I supplied an answer. I have no idea what will happen to the French economy in the future.
A question was posed about the past and I supplied an answer. I have no idea what will happen to the French economy in the future.
Probably the same thing that will happen to all other industrialized countries.
Air France-
Great experience roundtrip to Europe, but the two big French dudes in front of us (going) could use deodorant. Turns out, the football player size gentlemen were French. LOL It was awful. The food was a 10+.
lying.through.her.teeth.the.whole.time.
That’s great stuff. Love seeing these a-holes with their clothing ripped off. Same thing should start happening here, with various banks, corporations, etc.
It would be kind of scary to see Janet Felon stripped nekkid, though.
We can mock the French all we want, but unlike us when our captains of industry screw us over, they don’t grab their ankles and say “Please, sir; could I have more?”
Some Americans say that. May others say things like, “Gee, this is awful. It’s too bad that nothing can be done about it.”
A rose is a rose by any other name.
We used to throw them in jail. Enron execs, Worldcom execs, 1500 S&L bankers, etc.
Then obama was elected.
And a certain bank kept Holder’s former corner office “ready” the entire time he was the AG.
2banana
Come on, the GOP is no better. They’re all puppets to their masters. The 1980’s don’t count anymore. The country was actually a country, not USA, Inc back then, I would like to believe.
Another SJW article from Breitbart (Andrew Breitbart was murdered under direct orders from King Obama) about the feminist “slut walk” getting trolled by extremely gay non-real journalist Milo:
http://www.breitbart.com/big-journalism/2015/10/03/breitbart-editor-ejected-from-amber-rose-slut-walk-by-police
Pwecious snowflake sluts had their feewings hurt
anyone know how much re taxes are going up in IL ?
and a guess on how much re prices are going down
New Jersey RE taxes are 5.35%. The tax rates is higher than your interest rate, so even if you own your home free & clear, you still have a huge perpetual debt service payment!
We’re not even adding enough jobs to keep up with the growth in population…
———————-
Obama’s lousy new normal: Job growth disappoints yet again
Canada Free Press | 10/05/15 | Herman Cain
One of the biggest wastes of time imaginable is to read news stories about what’s expected in upcoming economic reports. Late last week, we were regaled with stories about how economists were expecting news of robust job growth, and how this would be followed by serious consideration on the part of the Federal Reserve Board to finally raise interest rates—which have been kept artificially low for years in the hope of spurring job growth.
But as is so often the case, the reality didn’t meet the expectations. Job growth stumbled again, with only 142,000 nonfarm jobs added to payrolls in September. And that follows an August that was even worse, at just 136,000. We’re not even adding enough jobs to keep up with the growth in population, which means that glorious 5.1 percent unemployment rate you keep hearing about is only because so many people are leaving the workforce and no longer being counted.
If jobs were not created with record profits form corps, It is clear the Trickle Down Economics does not work..
C’mon Obama fix that too!
Bigger and bigger government with more and more regulations and higher and higher taxes can fix this!
And America already has the highest tax rate in the industrialized world.
We should be winning!
Where are ALL those green jobs and shovel ready jobs obama promised?
Exactly why we dont vote GOP. Reagan tripled the deficit and grew the gov. Bush doubled the deficit and gave us a $6 trillion war.
Ya gotta pay your bills…
Unemployment is 5.1%, Bush handed him 10% unemployment
ps. GAO: U.S. corporations pay average effective tax rate of 12.6%
http://money.cnn.com/2013/07/01/news/economy/corporate-tax-rate/
next… fable
Dems used to be Tax and Spend (at the Federal level). Then the GOP introduced Borrow and Spend, which was a much easier sell to the electorate. Now the Dems are on board with Borrow and Spend.
Yep, the GOP will not give you less spending and less gov. Time for a new slogan.
Unemployment is 5.1%, Bush handed him 10% unemployment ??
Exactly…If Romney were President 2-fruit would be screaming here; “I told you Romney would straighten things out…What a stellar President”…
You have to admit that a few things that Romney said during the debates have proven correct:
The geopolitical threat of Russia;
The trouble with Dodd Frank (favoring large institutions).
I also have a hard time with the criticism of Romney when he has done a pretty damn good job wherever he went (MA’s education system is really good following reforms that Romney pushed, he fixed the Winter Olympics in SLC, etc.).
Bigger and bigger government with more and more regulations
You would be amazed at how many “private sector” jobs this creates for so-called self-sufficient entrepreneurs.
And that’s if everything goes well. If there’s a minor disaster — katie bar the door on consultants peddling their wares to gov contracting officers. The DC-area radio execs are growing rich on the cybersecurity ads alone.
“C’mon Obama fix that too!”
What did Obama ever fix?
Nearly everything is being fixed/
Where Are The Million New Manufacturing Jobs Obama Promised?
Investors Busniness Daily | 10/02/2015 | Editorial
Factory Jobs: The anemic September jobs report was bad news for anyone hoping that the economy had turned a corner. But it was even worse news for manufacturing, which is on a two-month losing streak.
Manufacturing shed 9,000 jobs last month on top of the 18,000 lost in August, completely erasing the gains made so far this year. Since January 2013, the industry has gained only 338,000.
All this flies in the face of President Obama’s repeated promise in 2012 that if reelected, he would create 1 million new manufacturing jobs by the end of his second term. Obama said that these new jobs would “put middle-class people back to work.” To make it happen, he promised to aggressively pursue corporate tax reform and unfair trade practices by China, set up new community-college/employer partnerships and create up to 20 “manufacturing innovation institutes.”
Since then, he’s done little if any of it.
A study by the National Association of Manufacturers found that regulations cost the industry nearly $20,000 per worker in 2012. At smaller firms, the cost is almost $35,000 per worker.
It’s only getting worse, as new or impending regulations on CO2 emissions, smog, etc. threaten hundreds of thousands of manufacturing jobs.
I recently ran across a version of the story The Ant and the Grasshopper where the ending is changed and the ant invites the grasshopper in and takes care of him for the winter. No lessons preached or learned.
The ant thinks he will get one over on the grasshopper, so he loans him a big bucket of food. Grasshopper eats the food, lays eggs and then dies. That’s what grasshoppers do. Ant has a long hungry winter.
The ant is one of those GWB “compassionate conservatives,” I.e. a patsy and a loser.
dow is off the friday lows like 650 points. Tht jobs report was sure awesome.
Marketwatch dot com
The Fed
Bernanke says ‘not obvious’ economy can handle interest rates at 1%
By Greg Robb
Published: Oct 5, 2015 10:34 a.m. ET
Former Federal Reserve Chairman Ben Bernanke’s appearances are tied to the release of his new book “The Courage to Act.”
Former Fed Chairman Ben Bernanke said Monday that he was not sure the economy could handle four quarter-point rate hikes.
Some economists and Fed officials argue that the U.S. central bank should hike rates now to anticipate inflation.
That argument assumes the Fed can raise rates 100 basis points and it wouldn’t hurt anything, Bernanke said. ”That is not obvious, I don’t think everybody would agree to that,” he added in an interview with CNBC.
Higher rates could “kill U.S. exports with a very strong dollar,” he said.
Bernanke said the “mediocre” September employment report is a “negative” for the U.S. central bank’s plan to begin hiking rates in 2015, as a strengthening labor market was the key conditions for the Fed to be confident inflation was moving higher.
…
Progressives don’t give a sh*t about young black males murdering young black males, because it doesn’t script the narrative:
http://www.foxnews.com/us/2015/10/05/bloody-baltimore-post-freddie-gray-spike-in-homicides-shootings-continues
Obama owns this. The Democrat Party owns this. Thanks, progressives.
If we could ban guns like Chicago does - gun violence would go to zero.
Chicago is on of the safest cities for young black males.
Build a wall around it, survival of the fittest.
Oh, hell, yeah, JEB! Bring on W, that’ll fix those faltering campaign numbers.
http://www.dailymail.co.uk/news/article-3260691/Oh-brother-art-thou-Jeb-s-campaign-considers-bringing-W-bid-faltering-campaign-track.html
Seriously, this guy is completely and utterly delusional, without a doubt. That would truly be an act of desperation. He needs to end this useless campaign of his.
He is polling at 4% despite ALL the big money donations.
He is done.
So painful to watch. I understand his donors are NOT happy. Good. Hope all that money goes down the drain. Although it ends up in the pockets of useless consultants.
Jeb is a strong leader of the GOP. He is the epitome of the GOP, I hope he changes his mind and becomes a fiscal conservative soon and tells us how we will shrink the gov.
Jeb is gonna clinch the hat trick for the Bush family.
I think the guy is on some serious meds. Can’t say as I blame him, if I was a Bush, and the brother of W no less, I’d be coked to the gills 24/7.
Speaking of drugs and dynasties, anyone see the 60 Minutes interview with Patrick Kennedy? I don’t blame him for hitting the bottle at the age of 13. If I had a lyin’, philandering, alleged murderer POS for a father, I’d would have been taking Jack Daniels in my infant formula.
The Bush brand is done. Time to go back to kissyface with the Saudi royals.
It just shows you how out of touch the GOP is. They think the Bush/Cheney year where good for America.
The Dems are not much better with Hillary.
Bernie/Warren 2016 (why not?)
Bernie won’t be considered a serious candidate by the MSM because they are stuck on the idea that “Americans won’t vote for a socialist.”
yep. What is “crony capitalism” if not socialism for only the insiders?
Despite the website on which this article is written, read this and open your mind to whether Bernie’s “big idea” of free college is a good one or not.
http://www.newrepublic.com/article/123022/case-against-free-college
Consider the the author also wrote an article titled:
“Bernie Sanders’s Family-Friendly Agenda Crushes the Competition”
“Free” college is not a radical idea, it is an incremental change. We already provide all American children a K-12 education tuition-free. If K-12 can be tuition-free, why not K-16?
Taxpayers pick up half the cost of education at a typical state university, making it half free. Twenty of thirty years ago it was around 3/4 free on average.
“If K-12 can be tuition-free, why not K-16?”
Did you read the article?
It’s less about the concept, and more about how such a program would favor the wealthy as compared to the status quo.
Here is the applicable paragraph:
“The main problem with free college is that most students come from disproportionately well-off backgrounds and already enjoy disproportionately well-off futures, which makes them relatively uncompelling targets for public transfers. At age nineteen, only around 20 percent of children from the poorest 2 percent of families in the country attend college. For the richest 2 percent of families, the same number is around 90 percent. In between these two extremes, college attendance rates climb practically straight up the income ladder: the richer your parents are, the greater the likelihood that you are in college at age nineteen. The relatively few poor kids who do attend college heavily cluster in two-year community colleges and cheaper, less selective four-year colleges, while richer kids are likely to attend more expensive four-year institutions. At public colleges (the type we’d likely make free), students from the poorest fourth of the population currently pay no net tuition at either two-year or four-year institutions, while also receiving an average of $3,080 and $2,320 respectively to offset some of their annual living expenses. Richer students currently receive much fewer tuition and living grant benefits.”
In other words, is this the best use of our resources if the goal is to lift people out of poverty?
What about finding a way to help the 80% of students in the poorest 2% of households who don’t currently go to college? Since those folks wouldn’t pay tuition at state schools anyway, it’s hard to argue that cost of tuition is keeping them from going to college.
Should there be something done earlier for those kids to get them on a “college track”?
Should we have more opportunities for trade schools for those who simply don’t have the parental (or peer) “push” to further their academic career?
Other ideas?
The other problem that I see with your K-16 analogy, is that K-12 is a general education, once you get into 13-16, it becomes far more specific. In some cases, that specificity is really great in terms of economic payback (STEM/Computer Science, etc.). In other cases that specificity is really personally rewarding, but that’s about it.
I attended a school event last week, and was amazed at how they were getting kids to Pre-Calc and Calculus much earlier than when I went through High School. I also appreciated the fact that the schools paid for things like teacher coaches to help make the existing teachers more effective. This us due to parents donating to the public school, that gives the school the resources to make these improvements.
Rather than spend money on a new program to pay for college (where a lot of the money will go toward people who have more money to begin with), should we rather put those resources toward making K-12 better–potentially allowing/pushing more poor kids to further their education?
Rather than spend money on a new program to pay for college (where a lot of the money will go toward people who have more money to begin with), should we rather put those resources toward making K-12 better–potentially allowing/pushing more poor kids to further their education?
You make some good points there, but if you’re talking having more kids go to college, that’s probably not a good idea. Around 30% of the working-age people have college degrees, but only around 20% of the jobs require a degree.
One issue that could use some attention is the high dropout rate.
I think there are lots of kids who should never go to college (and they should be offered other opportunities, like trade schools, etc.). Some of these kids go to college simply because their parents pay for it–and there isn’t (or they’re not aware of) better options for them.
I also think there are lots of kids who SHOULD go to college that don’t, not because they don’t have the brains, but because where they grew up didn’t emphasize college (either at home, or with their peers).
I’m not an advocate for sending more kids to college simply because “college is good”.
I’m an advocate for helping kids get to college who today have the brains and drive (and should be going to a 4-year school), but not the right “push” to get there.
And I’m an advocate for opening up other avenues (like trade schools), so that some kids that go to college now because it seems like the best option (and not because it fits their aptitude), might see that there is a better path that suits them.
I’m an advocate for fitting the right shape peg into the right shape hole.
Thanks for the opinion Rental_Fraud.
Rental Watch.
You’re right. Nothing wrong with a trade school. Our Volvo mechanic’s daughter is at USC. He does quite well.
I also think there are lots of kids who SHOULD go to college that don’t, not because they don’t have the brains, but because where they grew up didn’t emphasize college (either at home, or with their peers).
You have a strong point there. There are also financial reasons that a lot of bright kids don’t go to to college. On the other hand, it’s probably difficult for teachers or other unrelated people to push kids to want to go to college if their parents are pushing in the opposite direction.
Besides that, a lot of people are probably quite satisfied with the current state of affairs. For example, if someone like J-j-j-joe is going to trying to push his future kids to get into HYP, those kids won’t be completing against all of the smartest teenagers in America, just a portion of them.
college should not be free. City college should stay cheap like it is and offer more grants to kick-arse students and grants to students who commit to public service after college.
Then introduce a common entrance exam, based on the scores students will be allocated their choice with free tuition. The rest pay the tuition.
“Then introduce a common entrance exam…”
That’s racis’
Co-worker that had $229k offer accepted on Home Path house just got appraisal: $206k
FedGov ripping off a taxpayer 2x.
henderson nv appears to be booming.
Blooming defaults…. blooming blooming defaults.
Old Economy Steve
http://www.quickmeme.com/Old-Economy-Steven/?upcoming
“Dirtbag Realtor In Deadly Hamptons DWI Crash Gets The Evil Eye From Victims Family”
http://nypost.com/2015/10/01/dirtbag-realtor-in-deadly-hamptons-dwi-crash-gets-the-evil-eye-from-victims-family/
Always amuses me to see former Obama Zombies, suffering from severe rectal bleeding, belatedly realizing they were sold a bill of good on hope ‘n change and Oligopoly-owned candidates in general.
http://www.washingtonpost.com/politics/in-rural-america-a-startling-prospect-voters-obama-lost-look-to-sanders/2015/10/04/5465ce22-6883-11e5-8325-a42b5a459b1e_story.html
So they pin their hopes to a blatant socialist. How is he different than Obama 2008?
um… he’s a blatant socialist?
Yep
New York Times:
http://www.nytimes.com/2007/01/21/magazine/21Sanders.t.html?pagewanted=all&_r=0
He isn’t owned by George Soros and Goldman Sachs.
Yet.
Bernanke: Bankers should have been jailed. The farce is now complete.
http://libertyblitzkrieg.com/2015/10/05/welcome-to-the-banana-republic-highlighting-the-comment-section-of-bernankes-wsj-propaganda-piece/