Friday, November 5, 2010

Barker's Newsbites: Friday, Nov. 5, 2010


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William R. Barker said...

http://apnews.myway.com/article/20101105/D9J9RTT00.html

Oil jumped above $87 a barrel Friday in Asia, reaching its highest since early May, as the Federal Reserve's plan to buy $600 billion of Treasury bonds to stimulate the U.S. economy continued to send a tide of cash into stocks and commodities.

* JUST A POINT ON ENGLISH LANGUAGE USAGE: WHEN REPORTERS, EDITORS, POLITICIANS, AND ECONOMISTS USE THE WORD "BUY" TO DESCRIBE THE FED's ACTIONS, YOU NEED TO UNDERSTAND THAT "BUY" ENTAILS CREATING FURTHER UNSUPPORTABLE DEBT WHICH FURTHER UNDERMINES AMERICA'S ECONOMIC FUTURE.

* WHEN I "BUY" SOMETHING - EVEN IF I'M USING A CREDIT CARD - I'M PAYING OFF THAT PURCHASE WITH MONEY I ACTUALLY HAVE AS THE BILL COMES DUE. THE ITEMS I "BUY" I'M ABLE TO AFFORD, EITHER OUT OF SAVINGS OR POSITIVE CASH FLOW.

* FOLKS... THE FED DOESN'T HAVE "MONEY." IT DOESN'T HAVE "SAVINGS." IT SIMPLY ISSUES FEDERAL RESERVE "NOTES" (aka: DOLLARS) "BACKED" BY "THE FULL FAITH AND CREDIT" OF THE UNITED STATES GOVERNMENT... WHICH IS BROKE... WHICH IS DEEPLY IN DEBT WHICH IT HAS NO WAY OF PAYING BACK... WHICH IS ADDING MORE DEBT VIA HUGE DEFICITS YEAR BY YEAR AND ON TOP OF ADDING UNSUPPORTABLE DEBT TO SUPPORT CURRENT OPERATING COSTS, FURTHER UNSUPPORTABLE (LONG TERM) DEBT IS BEING ADDED VIA THESE MONEY PRINTING SCHEMES OF THE FED.

* OH... AND BTW... WHO ARE THE "WINNERS?" THE BANKS... THE HEDGE FUNDS... GOLDMAN SACHS... AND ALL THE POLITICIANS WHO STEER THE MONEY THEIR WAY.

* FOLKS... RAISE YOUR HAND IF YOU HAVE A ZERO PERCENT MORTGAGE OR CARRY RATE ON ANY OF YOUR CREDIT CARDS...

(*SIGH*)

November 5, 2010 at 9:20 AM
William R. Barker said...

http://www.zerohedge.com/article/labor-force-participation-rate-drops-25-year-low-645

[L]abor force participation has now dropped to the lowest rate it has been since 1984, at 64.5%.

Assuming a reversion to the long-term average participation rate of 66%, means that the civilian labor force is in reality 157.4 million as opposed to the disclosed 153.9 million, a delta of 3.5 million [unemployed are] currently unaccounted for.

Maybe someone can ask the president during his imminent press conference what happens to the unemployed population, which would have been 18.3 [million] if this labor force delta was incorporated, resulting in an unemployment rate of 11.6%.

(*JUST SHAKING MY HEAD*)

November 5, 2010 at 9:24 AM
William R. Barker said...

http://news.yahoo.com/s/ap/20101104/ap_on_bi_ge/us_aarp_health_plan

AARP's endorsement helped secure passage of President Barack Obama's health care overhaul. Now the seniors' lobby is telling its employees their insurance costs will rise partly as a result of the law.

(*BELLY LAUGH*)

In an e-mail to employees, AARP says health care premiums will increase by 8% to 13% next year...

(*JUST SHAKING MY HEAD AT THE ABSURDITY OF IT ALL*)

AARP adds that it's changing copayments and deductibles to avoid a 40% tax on high-cost health plans that takes effect in 2018 under the law.

* HMM... I WONDER WHAT THEY MEAN BY "CHANGE...???"

Shifting costs to employees lowers the value of a health care plan and acts like an escape hatch from the tax.

* AHH... THAT'S WHAT THEY MEAN BY "CHANGE!"

"Most plan co-pays and deductibles have been modified," Jennifer Hodges, AARP's director of compensation and benefits, wrote employees in an Oct. 25 e-mail.

* AIN'T "MODIFICATION" GRAND...!?

AARP officials said medical inflation is the main reason employee costs will be going up. The health care law is "a small part," said David Certner, legislative affairs director.

(*WINK-WINK*) (*NUDGE-NUDGE*) (*SMIRK*) (*SNICKER*)

* O.K., JUST FOR LAUGHS LET'S TAKE CERTNER'S STATEMENT AT FACE VALUE. OK? BUT, FOLKS... WEREN'T WE TOLD THAT OBAMACARE WOULD REDUCE COSTS...?!?!

(*JUST SHAKING MY HEAD AGAIN*) (*SNORT*)

November 5, 2010 at 9:35 AM
William R. Barker said...

http://www.nbcconnecticut.com/news/elections/2010/races/race-2/Bag-of-Uncounted-Ballots-Found-in-Bridgeport-106727208.html

In what has become one of the stranger twists in an already bizarre [Connecticutt] Governor's race, a bag of uncounted ballots was found in Bridgeport Thursday night.

(*SNORT*)

* FOLKS... YA CAN'T MAKE THIS STUFF UP...!!!

(*JUST SHAKING MY HEAD*)

Bridgeport has become the focal point of what has turned into a circus of an election.

A "ballot shortage" led to long lines on Election Day, and a judge issuing an order to keep polls open until 10 p.m. Tuesday, two hours longer than every other town in the state.

* JUST GO ABOUT YOUR BUSINESS, FOLKS... NOTHING TO SEE HERE... (*RUEFUL CHUCKLE*)

November 5, 2010 at 9:41 AM
William R. Barker said...

http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/walking-the-walk-nj-gov-chris-christie-to-cut-1200-public-sector-jobs-106702753.html

Since assuming office, [New Jersey Governor] Chris Christie has been relentlessly hammering home the message that state government, which is badly in the red, must live within its means.

But he’s also not afraid to make the tough decisions either.

Whereas the previous governor, [Democrat] Jon Corzine, struck a deal to prevent layoffs in the public sector at a time when private sector workers were unemployed in record numbers, here comes Christie taking on the public sector unions:

State government is on track to shed at least 1,200 jobs in January, Gov. Chris Christie said today.

(*THUMBS UP*)

“Whether it will grow beyond that, I don’t know,” he said at a Statehouse press conference. “That’s very much going to be dependent on what the revenue outlook looks like for the state.”

* WOW... IMAGINE... ACTUALLY TAKING INTO ACCOUNT AVAILABLE RESOURCES!

The job cuts include layoffs and attrition, spokesman Michael Drewniak said.

* HEY... ATTRITION IS AND SHOULD BE THE FIRST RESORT. (*NOD*) KEEP UP THE GOOD JOB, CHRIS CHRISTIE!

November 5, 2010 at 11:55 AM
William R. Barker said...

http://news.yahoo.com/s/ucac/20101103/cm_ucac/wereallbigotsnow

* WHEN ANN COULTER IS "ON" SHE'S ON! (*WINK*)

After Tuesday's election, the fresh new faces of the Democratic Party are ... Harry Reid and Jerry Brown! (Who had the worst election night? Chuck Schumer, who's been waiting in the wings to replace Reid as Senate majority leader. Who had the second worst election night? The people who live below Barney Frank's apartment.)

* HA! HA!! HA!!! (OH, ANN...) (*STILL CHUCKLING*)

With the addition of new Republican senators Ron Johnson (Wisconsin), Rand Paul (Kentucky) and Marco Rubio (Florida) - among others - the average IQ of Senate Republicans has just increased by about 20 points.

(*SMILE*)

Republicans added two magnificent new black faces to the Congress with Allen West in Florida...and Tim Scott in South Carolina... Republicans also launched two new Hispanic stars this election: Marco Rubio [and] Susanna Martinez.

And we got a bonus Sikh - Nikki Haley, the new governor of South Carolina.

(*SNORT*) (*CHUCKLE*) SERIOUSLY, FOLKS... COULTER CAN BE HALARIOUS...!!!

* OH... AND THERE'S MORE!

MSNBC is still searching for the "Republicans are racist" angle in all of this.

(*FALLING OFF MY CHAIR LAUGHING SO HARD*)

Democrats got nothing out of this election. Worst of all, now they're stuck with Harry Reid.

(*SNORT*) (*STILL LAUGHING OUT LOUD*)

November 5, 2010 at 2:07 PM
William R. Barker said...

http://www.washingtonexaminer.com/local/Agency-proposes-digging-tunnels-paths-to-Washington-Monument-106739958.html

The National Park Service has proposed building a security screening center below the foundation of the Washington Monument, which visitors would reach by tunnels and concrete pathways dug into the grassy mound surrounding the historic landmark.

* I OFFER A COUNTER-PROPOSAL: FIRE EACH AND EVERY GOVERNMENT EMPLOYEE CONNECTED TO PUSHING THIS IDEA!

November 5, 2010 at 6:18 PM
William R. Barker said...

http://thehill.com/blogs/blog-briefing-room/news/127893-dreier-orders-cameras-for-rules-committee-hearing-roomhttp://thehill.com/blogs/blog-briefing-room/news/127893-dreier-orders-cameras-for-rules-committee-hearing-room

Rep. David Dreier (R-Calif.), now the presumptive chairman of the Rules Committee, directed the House's chief administrative officer on Friday to begin installing cameras in the committee's hearing room.

Dreier, as ranking Republican on the committee, had unsuccessfully petitioned for cameras during the healthcare debate this spring.

"The American people get it - process is substance," he said in a statement in March. "With the Democratic majority poised to turn the rules of the House on their head just to get their government takeover of healthcare through, we need cameras there to record it."

(*ADMIRING CLAP-CLAP-CLAP*)

November 5, 2010 at 6:19 PM
William R. Barker said...

http://thehill.com/homenews/house/127879-boehner-pressed-to-cut-pay-of-lawmakers

Soon-to-be Speaker John Boehner (Ohio) is being pressed by taxpayer groups to slash the salaries of House lawmakers.

* I'LL SIGN ON TO THAT IDEA! CUT 'EM 5% JUST TO MAKE A POINT.

Cutting member pay would show voters the new GOP majority in the House is going to lead by example in their efforts to rein in spending and start with their own wallets, say officials with three prominent taxpayer advocacy groups in Washington, D.C.

“There has to be a visible gesture that people can immediately relate to,” said Pete Sepp, the executive vice president of the conservative National Taxpayers Union.

“And cutting pay would be one of the best symbols, because unlike virtually anything else the federal government does, when Congress spends money on its own salaries and benefits, people can make a direct comparison to their own situation,” Sepp said.

(*NOD*)

[T]he last time members of Congress took an actual pay cut was in the midst of the Great Depression on April 1, 1933.

November 5, 2010 at 6:19 PM

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