Video ~ Meredith Whitney talks Banks, States, Munis & Stocks

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June 8, 2011. Tags: , , , , , , , , , , , , , . Celebrities, Economy, Finance, Foreclosures, Healthcare, Housing, Labor Department, media, Obama Administration, Politics, Popular Culture, TARP, Taxes, Unemployment Statistics, Wall St. Comments off.

Video: Paul Ryan Reacts: Obama continues to shadow dance with America, punts – gives another word fog full of fury, signifying nothing

More Updates at end of post.

Update: Paul Ryan is GREAT here, he is ‘disappointed’ ohhh that is exactly it! They got us all revved up for that dereliction of duty of a speech from a lectern this afternoon? Really, really bad.

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What a whiff that was!

As always, Obama votes Present by not coming out and endorsing either Simpson-Bowles or anything else, (he gave them a shout out and a h/t at the end but endorsed none of their plan specifics). He did a word fog full of the same tired lines from ’08. Promises he has ALREADY FAILED TO FULFILL in the past 3 years.

Then he did a pivot to his Dr. No, stern Daddy routine, and laughably, he did it on his ‘trademark issue’  The Bush Tax Cuts!, which is of course the Big Issue he ALREADY CAVED ON!

Yes, audacity and bamboozlement is back for Obamapalooza Tour ’11-’12! All the Hype, None of the Hope!

They really plan to run on the same 6 yr old tired, broken-down trope of Obama being anti-Bush Tax Cut extension and Pro Middle Class American Dream. (and mebbe he is…IN HIS DREAMS!! It’s just his actual POLICIES that let him down? ie protecting TBTF fxckers who have housing on its back, making the TBTF Bigger, and refusing to allow Clinton era tax rates to come back).

Unless Team Obama thought they had pulled off some Total Recall number on all of us last night, uh, WTF are they thinking?

Don’t they know that WE know that he ALREADY CRUMPLED LIKE THE WET PAPER BAG HE IS on the extension of the Bush tax cuts? Did he think we somehow didn’t notice that?

Sure, he gave us the courtesy of a –  ‘I was forced to extend them to protect the middle class tax cuts’ BS line again, but again, if he gave his big ‘Hostages could be hurt’ spiel last time, doesn’t he think that WE think that HE WILL CAVE and extend them again when the Big Bad GOP Grandma Eating Wolf at the Door takes we middle class ‘victims’ ‘hostage’ again?

I means seriously, what the fxck? He doesn’t even TRY to spin us anymore? This is the best you;ve got? Man it’s lookin like a Fred Thompson energy level for Obama this time around.

So, it’s official there is for all effects and purposes no functioning POTUS on issues of real import. Congress needs to do what Hillary does on Foreign Policy, try to carry out the job with limited power while a Holier-Than-Thou absentee boss comes in once in a blue moon to pixx and moan about the work accomplished.

Let’s Review the Record on Obama’s Time at the Helm:

Foreign Policy? Has to be pushed HARD for MONTHS to make a decision, often leading to deterioration of circumstances on the ground that would allow mission success. See Af/Pak, Libya.

Update-Bonus- Launch military action unsanctioned by Congress, (previously one of your favorite Boosh! criticisms), go to Brazil to promote their energy independence and offer to make us dependent on them, do not make speech to nation on Libyan action.

Economy in Recession? Outsource a giant spendulus to Congressional Leadership of Pelosi/Reid and ‘Apollo Alliance’. Bonus – Insert unverifiable targets like ‘saving or creating’ jobs, yet attach chart that clearly projects a  UE target that goes unmet for THREE YEARS while claiming Success! Escape Velocity! Recovery Summer!.

Explosion of Entitlement Spending to Drown us in Debt? Outsource to a Commission for some mythical ‘consensus’, ignore said Commission report except to use as prop/tool when helpful. See Simpson/Bowles Commission,

Budget Presentation to Congress and the Nation? Whiff. Jack up spending then present ‘Budget Freeze’. Get Budget Do-Over Pass from Media. Nevermind, it’s just another whiff.

Tax Debate? Your biggest campaign promise:  An End to the Bush Tax Cuts for the Rich! Your raison d’être. Your ‘most deeply held political value’, the ‘shared sacrifice’, the ‘fairness rule’. You claim ‘hostages were taken, I couldn’t let people get hurt’ and position yourself, the President of the United States, as a hostage to the opposing party. You extend the Bush Tax Cuts for the Rich!

Bonus- You continue to claim this is exactly the wrong policy, that it is hurting the nation but you sign the bill anyway.

Double Bonus- Bring out the last successful Democratic president to sell your plan to country, leave him alone at lectern with media. Added points since you called this man a ‘racist!’ during ’08 campaign.

Double Triple Toe-Loop Bonus – You run for a second term on same promise to End the Bush Tax Cuts for the Rich! that you just extended, but give no explanation of how you can avoid the ‘hostage situation’ and accomplish this.

I can’t EVEN get into the National Security issues, it is frightening to consider NSC Advisers who do not know of Averted Terror Attacks on Large Scale in London,( TSA is FRISKING children and the left is quiescent~)Janet Napolitano claiming the border is more secure than ever, (170 bodies found in mass graves THIS WEEK just over the border), the incredible volte-face he has done on EVERY, SINGLE Bush anti-Terrorism policy he lectured about since 2006. It goes on and on.

Update to list: How could we forget-

Natural Disasters: BP Oil Spill in Gulf. Stern language against BP ‘boot on throat!’. Photo op- unlike Boosh! don’t do flyover, get down and pick up tiny tarballs. Then fly away home. Oil spill continues, unchecked, leave company who caused spill in charge of ending it. CONVENE PANEL! Oil continues to spill, unchecked. 40 Days+ later BP finally stops spill. Sidle up to lectern declare success!

Bonus – Set up ‘pot o’dough’ the go-to method of ‘solving problems’ for Community Organizers, see Al Sharpton.

Energy Policy: Allow Boosh! Era lax regulation( another of your campaign talking points) /certification/oversight of permits to continue under your Change!(d) DOE. This leads to worst oil spill in history. Convene panel! Stop all oil permits. Everywhere, land or sea.

Bonus- Give more grants to campaign supporter GE for ‘windmills’.

Double Bonus- Continue to snark at hard-working Americans who drive large vehicles, infer it is their fault as gas DOUBLES in your first 3 years. Propose new gas tax!

Triple Lutz Bonus: Fund off shore oil drilling IN BRAZIL. Announce to Brazilians you want America  to be their customer. (Make announcement in Brazil while launching a military action that has not been sanctioned by Congress, leaving the American people to figure out what is happening without you.)

Conclusion–  I don’t see how he has any chance of winning, even if Katie Couric and Brian Williams pick him up and carry him between his Arena Circuit Tour of College Campuses this time.

Unless of course, the conservatives within the GOP decide to sit the election out as they did in ‘087. Really disappointing. I don’t think our economy will achieve Larry Summer’s vaunted ‘escape velocity’ if we get another 4 years of Obama.

Please vote. No matter who it is, please please vote.

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Update 3: Jim DeMint calls Obama a ‘Bitter Clinger’!!!! BWAAAHAAA! (emphasis mine)~

The President made it absolutely clear today that Democrats will cling bitterly to deficit spending until our nation is bankrupt. After offering an unserious budget just a few months ago, the President offered new platitudes but the same old policies. He’s still pushing for trillion dollar tax increases that would destroy jobs and cripple our economy. He still wants to add trillions in new spending to our $14 trillion mountain of debt without a credible plan to ever balance the budget….”

Update 2: AllahPundit at HotAir has more Ryan goodness from Levin.

“He’s basically a pyromaniac in a field of straw men”

April 13, 2011. Tags: , , , , , , , , , , , , . Economy, Finance, Foreclosures, Healthcare, Housing, Immigration, journalism, media, Obama Administration, Pentagon, Politics, Popular Culture, TARP, Taxes, Terrorism, Unemployment Statistics, Wall St. Comments off.

President Clueless tells people if gas is too high, get a new car cuz it will take ‘years’ to ‘adjust’ prices aka ‘Let Them Eat Chevy Volts!’

Good Gawd. IOW Let them eat Volts!

Clearly he is pixxed and advisers are telling him no re-elct with $5 gas for you chump~and in his usual passive aggressive way, he is mad at US for being broke due to HIS asinine plan

And Barry doesn’t like when all his carefully dreamed up plans cause him aggravation.

Recall, he said in 07- ‘under my plan electricity rates will necessarily skyrocket’. Yeah electricity, heating oil, gasoline. And he hasn’t even gotten his cap and trade yet, imagine the future with another 4 years of this guy.

Mad Max anyone?

YahooNews and a better interpretation from ZeroHedge:

…”I’m just going to be honest with you. There’s not much we can do next week or two weeks from now,” the president told workers at a wind turbine plant (one operated by Spanish company Gamesa). “Gas prices? They’re going to still fluctuate until we can start making these broader changes, and that’s going to take a couple of years to have serious effect.

And we doubt Obama’s hard core union electorate will be happy at the following stab at Channel Stuffing Motors: “If you’re complaining about the price of gas and you’re only getting 8 miles a gallon, you know,” Obama said laughingly.You might want to think about a trade-in.“…

…As to the core question, we were surprised Bill Dudley was not present at Obama’s side explaining how deluded complainers should just have a chilled glass of unleaded 98 Octane with their main course of deflationary iPad 2....

April 6, 2011. Tags: , , , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, Taxes, Unemployment Statistics, Wall St. Comments off.

Gov. Chris Christie: People are Ready to Hear the Truth

The big man nails it. Lead, follow or get out of the way. The gravy train is over and we will be sharing the pain to get out of this mess.

February 16, 2011. Tags: , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, Taxes, Unemployment Statistics, Wall St. Comments off.

‘You’re going the wrong way!’ ~ Weekly Jobless Claims rise to 500,000

Update: Philly Fed PLUNGES! ZeroHedge:

Philly Fed Plunges To -7.7 on Expectations Of 7.0, Previous 5.1

More on that HUGE Philly Fed Miss from CalculatedRIsk

Indexes for new orders and shipments also suggest a slowing this month; the new orders index fell slightly, to ‐7.1, while the shipments index turned negative, declining to ‐4.5. Indicating weakness, indexes for both delivery times and unfilled orders remained negative this month.

The percentage of firms reporting a decline in employment (23 percent) was higher than the percentage (20 percent) reporting an increase. More concerning was the significant drop in the average employee workweek index from 1.7 in July to ‐17.1 in August….

Most of we peeps outside the Beltway expected this (that’s us in the c ar screaming at John Candy aka Obama, Summers and Geithner) . Here it is. Delta going the wrong way. Rising weekly jobless claims continue, now hitting that 500,000 marker…and AGAIN note the revisions for the prior month-higher…

CNBC:

Initial claims for state unemployment benefits increased 12,000 to a seasonally adjusted 500,000 in the week ended August 14, the highest since mid-November, the Labor Department said on Thursday.

Analysts polled by Reuters had forecast claims slipping to 476,000 from the previously reported 484,000 the prior week, which was revised up to 488,000 in Thursday’s report…..

August 19, 2010. Tags: , , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, Taxes, Unemployment Statistics, Wall St. 1 comment.

Personal Bankruptcy soars to 5 yr high ~ Nevada continues to be hardest hit – feel the ‘Hope’ yet?

The American people are eagerly awaiting their chance to vote against this destructive, divisive agenda coming out of D.C. November cannot come soon enough. Hold On, voters are comin’, we will pull each other out of this morass the Obama Democrats have created. Please make sure EVERYONE you know is coming out to vote.

ZeroHedge:

The Administrative Office of the U.S. Courts reports that personal bankruptcy filings for the year ended June 30, 2010 surged to a five year high, hitting 1.57 million, a 20% increase from the prior year. Furthermore, in the period between April and June, there were 422,061 bankruptcy filings, a 9% increase from the 388,148 in the previous quarter, and up 11% from 381,073 a year earlier. As Reuters highlights, quarterly filings surpassed 400,000 for the first time since a record 667,431 bankruptcies were begun in the fourth quarter of 2005, when Congress overhauled federal bankruptcy laws and made it harder for people and businesses to file…

Nevada continues to be hardest hit in foreclosures and bankruptcies as well as unemployment, Harry Reid is killing his state on a Trifecta of issues with his ass backward economic ‘policies’,,,

If you are in Nevada, please take a look at Sharron Angle for Senate. I had initially backed Sue Lowden and donated to her campaign, but Sharron was the people’s choice and now any dillys I have for NV are going to Sharron who GETS IT. We need people who GET US, and GET AMERICA. Who GET free markets and fiscal responsibility. Please vote for Sharron Angle to turn NV around!

...Indicatively, Nevada had the highest rate of filings on a per capita basis in the last year, with 11.74 per 1,000 people)….

Obama is on my TV, again, this time BAMBOOZLING folks in Ohio and whining about how companies have plenty of money to hire and fully fund pensions. Good grief, the pension bailout is coming….Hold On America, we voters are comin’!!

August 18, 2010. Tags: , , , , , , , , , , , . Economy, Finance, Foreclosures, Housing, Obama Administration, Politics, Popular Culture, Taxes, Unemployment Statistics. Comments off.

The only likeable person on Obama’s econ team calls it quits: Miser Bros. Summers & Geithner push out Christy Romer

Gee, now we will be forced to hear the abysmal jobs numbers spun without the cheerful manner that was part of Romer’s disposition.

The 'Smartest Folks in the Country!!' Part Deux~Obama Economic Team Vogues (November 08)

Jesse’sCafeAmericain has the round-up on the departure:

Christina Romer is a fine economist, but she frankly does not have the skillset to deal with an accomplished Tidal Basin pond snakes like Larry Summers and his sidekick Tim Geithner.

She is said to have left at her own request. It is nice to see a principled resignation once in a while. Good for her. I hope that is the case. In addition to pushing for more stimulus, I had also heard that Romer was promoting Elizabeth Warren as the head of the new Financial Consumer Protection Agency, a move that is adamantly opposed by Timmy and Larry, the Rubin twins….


Tell me Geithner and Summers aren’t dopplegangers of Heat and Snow Miser…

The Miser Brothers aka Larry Summers and Tim Geithner

I mean Geithner’s profile is pretty easily identifiable..the BEST sign of the early hagiography attempts on Team O was that idiocy proclaiming GEITHNER one of the most beautiful people…

In unrelated news the Comment of the Day found on HotAir:

Excuse me, but is there any way I can get off of “As$clown Express” Airways created by the Grand As$clown himself, BHO?

-yobobbyb on August 5, 2010 at 3:04 PM

August 5, 2010. Tags: , , , , , , , , , , , , , , , . Cabinet, Economy, Finance, Foreclosures, Housing, Labor Department, Obama Administration, Politics, Popular Culture, Taxes, Unemployment Statistics, Wall St. Comments off.

The ‘recovery summer’ that wasn’t continues ~ retail sales dip for second month as consumers continue to vote NO on Obamanomics, refusing to spend


So this big plan wherein MNCs (Multi National Corporations) and Team Obama increase exports and Americans save more is kinda sorta half coming to fruition, in an unintended way.

The problem is we American consumers stopped spending but the world is NOT increasing consumption, it is continuing to export to us (and it made clear at the G20 that will continue so much for Obama;s vaunted charisma leading the world to new frontiers, lol).

WSJ:

–The dead cat has left the building: despite a record 9.0% plunge in building material sales for May, the category failed to receive the typical post-plunge rebound in June. We view the building materials and accompanying furniture sales drops as reflective of weak housing market demand, and ultimately it was the lack of a dead cat bounce in these categories that caused core sales to fall short of expectations. Building materials sales declines of an additional 1.0% point towards continued weakness in construction spending, as residential improvement projects represent about 15% of all US construction activity. –Guy LeBas, Janney Montgomery Scott

And of course there are no American jobs, that pesky housing market is continuing to drop to new lows and small business is out for the count. The MNCs can continue to cut costs for a while but the inventory build is over.

The high end is moving their income into 2010 to avoid the coming Taxapocolypse in ’11 which will make the back half of ’10 look much better than it is, and will also see the tide go out in ’11 and reveal the naked truth~ there is no recovery and there will not be one until we turnover Congress AND the Presidency.

We can stop the bleeding if the GOP takes Congress in November, but we will have to sit tight, preserve capital and wait it out til ’12 to get the American economic engine running again under a POTUS who is not actively trying to LOWER the American standard of living. VOTE!
CNBC:

…Retail spending dropped 0.5 percent in June, the Commerce Department reported Wednesday. That followed a 1.1 percent fall in May. Excluding autos, spending was down 0.1 percent in June. …
…Americans are spending less and that could threaten the pace of the recovery. Consumer spending accounts for 70 percent of economic activity. But consumers have held back because of high unemployment and other signs that have dampened their confidence, such as the volatile stock market and a struggling housing market.

The June decline in retail sales was larger than the 0.2 percent fall that economists had expected. …

ps Oil inventories PLUNGED 5 MBBPS forecast was a drawdown of 1.something MBBSand BP isn’t testing the cap shutoff~ WASS!! Take that summer RV vacation with the family now before gas goes up~yeah the markets are up 700 points on the Dow past few days, whee! gotta be Nukkin Futs to play this market IMO it is running on air, no volume and computerized trades, there is no THERE there, just like Obama. The souffle has fallen!!

July 14, 2010. Tags: , , , , , , . Economy, Finance, Housing, Obama Administration, Politics, Taxes, Unemployment Statistics, Wall St. Comments off.

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