Friday, July 22, 2011
Barker's Newsbites: Friday, July 22, 2011
The "Official" Obama 2012 Campaign Song!
But on a serious note, folks...
Our country is in the shitter.
All that's standing in the way of carrying out a corrupt bargain between Obama and that traitor McConnell are a few true Republican Senators and the House Tea Party Caucus.
I'm still praying... still holding out hope... that Boehner isn't the man I fear he is, but all the "smart money" seems to be on Boehner betraying those of us who love and want to save our country.
Keep reading newsbites, folks. Don't buy the mainstream media spin. "Bipartisan" Congressional action is just another way of saying, "You've been screwed - again!"
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http://finance.yahoo.com/blogs/daily-ticker/return-mass-layoffs-grim-sign-u-workers-190228219.html
[T]he mass layoff is making a comeback.
In the past week, Cisco, Lockheed Martin and Borders announced a combined 23,000 in job cuts.
Those announcements follow 41,432 in planned cuts in June, up 11.6% from May and 5.3% vs. a year earlier, according to Challenger, Gray & Christmas.
* WHAT'S IT GONNA TAKE FOR PEOPLE TO CONNECT THE DOTS BETWEEN THE DEMS CAPTURING CONGRESS IN 2006, OBAMA CAPTURING THE WHITE HOUSE IN 2008, AND THE COUNTRY GOING DOWN THE TUBES SINCE?!
Meanwhile, state and local governments have cut 142,000 jobs this year, the WSJ reports...
* THAT AT LEAST IS GOOD NEWS! NO... NOT FOR THE SHORT-TERM INTERESTS OF THE WORKERS LET GO (THOUGH MANY JOBS SIMPLY "WENT AWAY" VIA ATTRITION - NOT LAYOFFS), BUT CERTAINLY IT'S GOOD NEWS FOR THE TAXPAYERS AND THE LOCAL GOVERNMENTS, STATES, AND NATION AS A WHOLE.
This week, Goldman Sachs announced plans to let go 1000 fixed-income traders.
* AND THIS IS CERTAINLY GOOD NEWS!
If these trends continue, we may soon be talking about losses in the monthly employment data - not just disappointing growth, says Howard Davidowitz, CEO of Davidowitz & Associates.
"There has never been in a situation in my lifetime where a guy (Obama) increases the (federal) debt by 40%; GDP growth is on the way down, Food Stamps are up, millions more are unemployed - and to accomplish this we spent $4 trillion."
* WELL... TO BE FAIR OBAMA COULDN'T HAVE SO DESTROYED THE ECONOMY WITHOUT THE ENTHUSIASTIC HELP OF NANCY PELOSI, HARRY REID, AND THE DEMS WHO CONTROLLED CONGRESS FROM JANUARY 2007 THRU JANUARY 2011.
* YEAH, FOLKS... AGAIN... ALL THE REALLY BAD ECONOMIC DATA STARTS POPPING UP AFTER THE DEMS TOOK CONTROL OF CONGRESS IN 2007 AND THE NEGATIVE TRENDS INCREASED ONCE OBAMA WAS SITTING IN "THE BIG CHAIR" IN THE OVAL OFFICE. THIS IS SIMPLE FACT: LOOK IT UP... USE OFFICIAL GOVERNMENT FIGURES! THERE'S SIMPLY NO ARGUING THE POINT!
http://finance.yahoo.com/blogs/daily-ticker/bunch-morons-washington-howard-davidowitz-handicaps-debt-ceiling-145318806.html
In conjunction with the ECB, Germany and France have reached a deal to allow for "selective" default on Greek debt. Judging by the reaction in financial markets, this counts as progress.
* ONLY IF YOU'RE PLAYING A RIGGED GAME. (*SHRUG*)
With the euro rallying sharply vs. the dollar, the sovereign debt of Europe's PIIGS rose Thursday while Treasuries fell, commodities climbed and stocks surged as the "risk on" trade was back in favor. In recent trading, the Dow was up 1.2% while crude was up 1.5% and had earlier traded above $100 per barrel for the first time since June 10.
* I UNDERSTAND THE AVERAGE AMERICAN HAS NO CLUE HOW TRULY FUCKED WE ARE. STILL... I CONTINUE TO CITE THE FACTS.
Meanwhile, U.S. politicians continue to wrangle over a deal to raise the debt ceiling by the end of the week, which is when the Obama Administration says a framework must be agreed upon so there's enough time to get legislation passed prior to the Aug. 2 deadline.
Which brings us to the question of the day: Who is handling their debt crisis better, America or Europe?
Tempting as it may be to say "neither," the fact Europeans are now willing to accept a default on Greek debt - selective or otherwise - suggests the Continent is ahead of the Colonies at this juncture.
"When somebody has debt that's impossible to deal with, you restructure the debt," says Howard Davidowitz, whose eponymous firm specializes in retail restructuring. "A lot of the debt has to be dead. Unless you restructure that debt, the problem will go on forever."
* YEP! FANNIE AND FREDDIE SHOULD HAVE BEEN ABANDONED BACK IN 2008 AND SAME WITH ALL THE OTHER BAILOUTS - THEY SIMPLY NEVER SHOULD HAVE TAKEN PLACE. TARP WAS A DISASTER AND THE FACT THAT SO MANY SUPPOSED EDUCATED PEOPLE DON'T UNDERSTAND THIS IS WHY I DOUBT THE U.S.A. CAN BE SAVED IN THE LONG TERM.
"Eventually the American taxpayer will get so fed up with these bunch of morons in Washington - Republican and Democrat - they are going to demand we take real action with real numbers; cut thru the crap and start dealing with this debt and we can do it," Davidowitz says. "Why did we say in U.S. 'the bondholders can't be hurt?' What the hell was that about? It was all mad."
* DAVIDOWITZ IS EXACTLY RIGHT. TOO BAD HE'S NEITHER PRESIDENT OF THE UNITED STATES, FED CHAIRMAN, SPEAKER OF THE HOUSE, OR MAJORITY LEADER OF THE SENATE. FOLKS... AMERICA IS EXPERIENCING A SLOW MOTION FATAL CAR CRASH. WE'RE ALL CAUGHT IN IT. I SEE NO ESCAPE AS LONG AS AMERICA REMAINS A "DEMOCRACY" WHERE THE SCUM IN WASHINGTON AND THE MOB SUPPORTING THE WELFARE STATE STAND TOGETHER AND PREVENT REFORM.
Like most observers, Davidowitz expects Congress will come up with a short-term deal to at least temporarily raise the debt ceiling and allow the madness to continue.
"I think we'll get something for six months, a deal these morons can get their arms around…and keep screwing around, kicking the can down the road and do nothing," he says.
In other words: It's the same old story. Same old song and dance, my friends.
http://www.reuters.com/article/2011/07/21/us-sheriff-ebay-new-mexico-idUSTRE76K6YG20110721
Former Sante Fe County, NM, Sheriff Greg Solano, 47, pleaded guilty on Wednesday in District Court as part of a plea agreement to five counts of fraud for embezzling county property and selling the items for his own gain on the popular online auction site, eBay.
* ANYONE WANNA GUESS WHAT REUTERS FAILED TO REPORT ABOUT SOLANO?
(*SMIRK*)
* CORRECTAMUNDO! SOLANO IS A DEMOCRAT!
If Solano had been convicted of the original 251 embezzlement counts cited at the time of his arrest in January, he could have faced more than 100 years in prison.
* SO WHAT WOULD YOU SAY IS A FAIR PLEA BARGAIN? 50 YEARS IN PRISON?
* WHAT DO YOU WANNA BET THIS SCUMBAG GETS A SLAP ON THE WRIST...?
The plea deal came eight months after Solano resigned as sheriff and admitted auctioning the items for personal profit.
In addition to the prison time, Solano could get up to 15 years of probation and be ordered to pay $137,000 in restitution, which includes the $64,200 the county paid for an audit of the sheriff's office.
* COULD GET... (*SMIRK*)
* WE'LL SEE!
Prosecutors and defense lawyers were still in talks over the costs of the items stolen and how much Solano would be required to repay. The sales date back to January 2007, Chandler said. The property included a wide range of items - from printer ink cartridges, cell phone chargers and blank CDs to bullet-proof vests, flashlights and other police gear.
* BULLET-PROOF VESTS...
(*JUST SHAKING MY HEAD*)
Solano apologized to his family, friends and former law enforcement colleagues...
* OH, PLEASE! JUST PUT THE BARREL OF THE GUN IN YOUR MOUTH AND PULL THE TRIGGER. SAVE THE TAXPAYERS FURTHER EXPENSE!
http://detroit.cbslocal.com/2011/07/21/dte-rolling-blackouts-possible/
The excessive heat and higher electrical demand has led DTE Energy to begin intentional rolling blackouts in one Metro Detroit community, Thursday afternoon, and at least one other area could follow.
Residents in Ferndale, already hit with roughly 5,000 outages due to “system stress”, are now on rolling blackouts for the rest of the day.
* YOU KNOW WHERE THEY HAVE "ROLLING BLACKOUTS," FOLKS? IN THIRD-WORLD NATIONS - THAT'S WHERE!
* CHANT IT WITH ME, FOLKS... O-BAM-A! O-BAM-A! O-BAM-A! O-BAM-A! O-BAM-A!
http://chicago.cbslocal.com/2011/07/22/crews-need-police-escort-to-shut-off-fire-hydrants/
CHICAGO (CBS) — City crews scrambling to turn off nearly 2,000 fire hydrants opened by residents seeking relief from the heat required a police escort to protect them from gang members and others upset with the shutdowns.
* UNDERSTAND, FOLKS... THE ANIMALS ARE ONLY LIGHTLY CAGED.
“The gangbangers and the neighborhood tough guys, they could crack you over the head with something. Anything can happen,” said 20-year Water Management Department veteran Richard Quarles.
Quarles was surrounded by a group of people who dumped water on him as he shut down a hydrant that was spewing hundreds of gallons of water into the street.
* HE'S DAMN LUCKY THAT WAS ALL THAT HAPPENED TO HIM.
http://online.wsj.com/article/SB10001424052702303795304576456460386712804.html?mod=WSJ_Opinion_AboveLEFTTop
If you think a taxpayer bailout of $164 billion (and counting) is enough to convince politicians to stop guaranteeing mortgages, then you don't know Washington.
A bipartisan effort is now underway in Congress to keep Fannie Mae and Freddie Mac dominating the mortgage market even for affluent borrowers.
The issue concerns the so-called conforming loan limit, or the size of mortgages that the two government housing giants are allowed to guarantee. The amount was $417,000 before the housing meltdown, but in February 2008 President George W. Bush bowed to the Pelosi Congress and increased it to $729,750 for homes in the most expensive parts of the country. This was sold as a temporary measure, but in 2009 President Obama extended it.
The limit is now scheduled to decline on October 1 to $625,500, which is still far above the average U.S. sale price for existing homes of $236,200. The White House position, outlined in a February white paper and affirmed to us Thursday evening, is to reduce the limit on schedule.
* THESE PEOPLE ARE SICK. FIRST OF ALL, THERE SHOULD BE NO CONFORMING LOANS IN THE FIRST PLACE. FANNIE AND FREDDIE SHOULD BE PHASED OUT - ASAP! BUT UNTIL THAT HAPPENS AT THE VERY LEAST THEY SHOULD BE LIMITED TO GUARANTEEING LOANS NO LARGER THAN 80% OF THE SALE PRICE FOR EXISTING HOMES - CURRENTLY $236,200.
Republican John Campbell of California and Democrat Gary Ackerman of New York have proposed a bill to maintain the current limit for another two years.
* WITH "REPUBLICANS" LIKE JOHN CAMPBELL WE DON'T REALLY NEED DEMOCRATS, DO WE?!
The good news is that the relevant committee and subcommittee chairmen in the House, Spencer Bachus and Scott Garrett, say they oppose the Campbell plan.
* NEVERTHELESS...
We've learned the hard way never to underestimate the power of the home builders, realtors, mortgage brokers and "affordable housing" advocates to get what they want.
(*NOD*)
Taxpayers need to beware lest the Campbell-Ackerman plan slip into law in the dead of night.
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