Tag Archives: Bankrupt

Thanks Mr Obama: Big Income Losses for Those Near Retirement

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From the New York Times Business Day:

Americans nearing retirement age have suffered disproportionately after the financial crisis: along with the declining value of their homes, which were intended to cushion their final years, their incomes have fallen sharply.

The typical household income for people age 55 to 64 years old is almost 10 percent less in today’s dollars than it was when the recovery officially began three years ago, according to a new report from Sentier Research, a data analysis company that specializes in demographic and income data.

Across the country, in almost every demographic, Americans earn less today than they did in June 2009, when the recovery technically started. As of June, the median household income for all Americans was $50,964, or 4.8 percent lower than its level three years earlier, when the inflation-adjusted median income was $53,508.

Since your 2008 “Hope and Change,” what kind of hope and change has occurred?  I’d submit this: no hope, much change.  See above.

The common Political Yardstick: are you better off today than you were four years ago?  And what does your future portend?

No, I’m not.  And I’m facing a slanted SCOTUS, ObakaKare and CapNTax.

Further:

Odds of Global Recession Are 100%

There’s still a 100 percent chance the world heads into recession, Marc Faber, publisher of “The Gloom, Boom & Doom Report,” told CNBC’s “Closing Bell” on Thursday, echoing a call he made in May.

Bloomberg | Getty Images
Marc Faber, managing director of Marc Faber Ltd. and publisher of the Gloom, Boom and Doom Report

When you look at the major economies, Europe, the U.S., China and the emerging markets that are dependent on China for growth, Faber, aka Dr. Doom, only sees weakness.

“Europe is already in recession,” he said. “Germany is still growing very, very slightly, but is likely to go into recession soon.”

Growth in the U.S. is also falling off. “The U.S. economy has decelerated and I don’t see much growth in the next six to 12 months,” Faber said.

There’s also little the Federal Reserve and other policy makers can do to turn the U.S. economy around. “I think that if you look at the injection of liquidity and the intervention by the Federal Reserve and the Treasury with fiscal measures, it has already impoverished the U.S. economy,” he said.

Right.

All is well.

Hope and change.

BZ

 

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Just like “1984”: White House Sets Ground Rules for Local Interviews

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Imagine that.

The Obama Administration attempting to control the DEM/MSM.

From Keith Koffler, a veteran White House reporter:

The White House is doing something with its local TV interviews that it could not easily get away with in encounters with the White House press corps, which President Obama has been studiously ignoring: choosing the topic about which President Obama and the reporter will talk.

In interviews with three local TV stations Monday, two from states critical to Obama’s reelection effort, Obama held forth on the possibility of “sequestration” if he and Congress fail to reach a budget deal, allowing him to make his favorite political point that Republicans are willing to cause grievous harm to the economy and jobs in order to protect the rich from tax increases.

Obama Monday threw the White House press corps a bone by suddenly appearing in the briefing room for 22 minutes and taking questions from a total of four reporters. It was his first press conference at the White House – albeit in miniature – since March, and only his second of the year. Obama before Monday had taken exactly one substantive question from White House reporters since June.

Can you imagine the results had Bush 43 done the following:

– Set ground rules for interviews;
– Avoided the White House press corps for five months?

Yes: 24/7 excoriation would have been the result.

For Obama?  No.  Because the DEM/MSM are “in the tank” for Mr Obama due to his duality: he is Demorat and he is black.  He is, in a media sense, (and continues to be) untouchable.

That said, have you heard or read a portion of how your 2009 “Stimulus” funds were actually spent?  Likely not.  Read it here first:

Now: from the WashingtonTimes.com:

Labor Department spends stimulus funds for ads during Olbermann, Maddow shows

The Labor Department paid out hundreds of thousands of dollars in federal stimulus funds to a public relations firm to run more than 100 commercials touting the Obama administration’s “green training” job efforts on two popular MSNBC cable shows, records show.

The commercials ran on MSNBC on shows hosted by Rachel Maddow and Keith Olbermann in 2009, but the contract didn’t report any jobs created, according to records recently reviewed by The Washington Times.

Spending reports under the federal Recovery Act show $495,000 paid to McNeely Pigott & Fox Public Relations LLC, which the Labor Department hired to raise awareness “among employers and influencers about the [Job Corps] program’s existing and new training initiatives in high growth and environmentally friendly career areas” as well as spreading the word to prospective Job Corps enrollees.

Ultimately, the firm negotiated ad buys for “two approved spots” airing 14 times per week for two months on “Countdown with Keith Olbermann” and “The Rachel Maddow Show,” according to a project report, which listed the number zero under a section of the report asking how many jobs had been created through the stimulus contract.

David Williams, president of the nonprofit watchdog Taxpayers Protection Alliance, called the contract “questionable” because it created no jobs and because of the placement of the ads on shows viewed as friendly to the administration’s policies.

“Hiring a PR firm does not create jobs and this was obviously meant for selling a particular political agenda,” Mr. Williams said. “The placement really reeks of a political ad rather than a job ad, and taxpayers see through this.

“Taxpayers would be a lot happier at the end of the day to see a completed road rather than a bunch of ads on cable television,” he said.

I say: YOUR FEDERAL TAX DOLLARS AT WORK.
As in: YOU paid “stimulus dollars” for a litany of Obama propaganda advertisements.
As in: YOU, as an American Taxpayer, were once again FLEECED.
This is YOUR money, ladies and gentlemen.  YOUR MONEY.
Do you care?
BZ

 

 

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Obama: “Let’s repeat auto industry success with every manufacturing industry.”

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Sometimes Mr Obama is so incredibly, ridiculously obtuse and trenchant that he becomes nothing more than a parody of himself, and this is clearly one of those times.

I don’t even have to ask you the question, I’ll simply provide you with the answer up front: YES, Mr Obama IS this stupid.

From Politico.com:

PUEBLO, Colo. – President Obama, while villifying Mitt Romney for opposing the auto industry bailout, bragged about the success of his decision to provide government assistance and said he now wants to see every manufacturing industry come roaring back.

“I said, I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back,” he said. “Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry.

“I don’t want those jobs taking root in places like China, I want those jobs taking root in places like Pueblo,” Obama told a crowd gathered for a campaign rally at the Palace of Agriculture at the Colorado State Fairgrounds here.

The proof:

Obama: “And GM is number one again.”

Really, Mr Obama?  Let there be NO mistake: that would fall into the category of a bald-faced LIE.

Here’s the truth:

You know who came roaring back — but in truth never left?  Why yes, that would be the Ford Motor Company, as they didn’t take a DIME of Mr Obama’s money.  Because of this, does Mr Obama support and promote Ford?

No.  Not Ford.  GM.

Chrysler, in the meantime, was abandoned by Daimler and then purchased by Fiat.

Remember the dealerships?  Remember the dealerships completely kicked to the curb?  Remember the resulting hundreds and hundreds and hundreds of dealership employees and salesmen and service personnel who got kicked to the curb?

In fact, RACE played a role in the closure of dealerships:

The Obama administration, already under fire for unprecedented allegations of racial bias, faces a new bias claim from a most unlikely source: one of the administration’s own inspectors general.

Decisions on which car dealerships to close as part of the auto industry bailout — closures the Obama administration forced on General Motors and Chrysler — were based in part on race and gender, according to a report by Troubled Asset Relief Program Special Inspector General Neal M. Barofsky.
[D]ealerships were retained because they were recently appointed, were key wholesale parts dealers, or were minority- or woman-owned dealerships. [Emphasis added.]
Thus, to meet numbers forced on them by the Obama administration, General Motors and Chrysler were forced to shutter other, potentially more viable, dealerships. The livelihood of potentially tens of thousands of families was thus eliminated simply because their dealerships were not minority- or woman-owned.

Somehow, conveniently, we seem to have forgotten these recent times so that we might hoist the Pretending Black Man into another presidential term.

Let’s talk about the Chevrolet Volt.  The car that won’t sell.  No matter the incentive.  Because it won’t run more than 30 miles on its batteries.  GM Volt purchases made by government?

Let’s talk about the mass purchases made by your federal government of GM.  Because GM is protected and supported by the Obama administration.

Let’s talk about GM selling the fewest number of cars this year.

And about its June sales: to mostly FEDERAL agencies:

General Motors announced this month its auto sales increased by 16 percent in June, its best monthly sales gain since 2008. Considering all the company has been through, and the fact that it still owes taxpayers approximately $25 billion in TARP repayments, a 16 percent boost in sales sounds like good news, right?

Who knows? With consumers buying up all these cars, maybe GM can reestablish itself as an auto heavyweight, shareholders will finally get to see a return on their investments, and President Obama will have something to brag about on the campaign trail.

Not so fast.

As it turns out, there’s a big reason GM experienced an increase in sales last month: “government purchases of GM vehicles rose a whopping 79% in June,” according to the National Legal and Policy Center’s Mark Modica.

Seriously?

“Overall fleet sales (which are typically less profitable than retail sales) at Government Motors rose a full 36% for the month, helping to drive decent sales improvements year over year,” Modica reports.

GM now offers “financing” to sub-prime buyers.

Worst cars, worst financing?

To enable our predicament to occur all over again?

BZ

 

 

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Starting in Fornicalia First:

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What do Vallejo, Mammoth Lakes, Stockton and now San Bernardino have in common?

They’re Fornicalia cities that have become bankrupt as, unlike your glorious federal government which can, they cannot print their own money.

People say: “no, the economy really isn’t that bad. Mr Obama really isn’t that bad.”

Seriously?

Within the next year you’re about to wake up one morning and discover you have no private health insurance, your sales taxes are akin to Spain’s, and your arse is bleeding from its federal pounding.

BZ

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