Posts Tagged ‘double-dip’

US Dollar, Housing, Oil And Food Markets Point To Dodo Bird Ending For America: The Beast Is Coming

May 2, 2011

This is your dollar.

This is your dollar on Obama:

APRIL 23, 2011
Dollar’s Decline Speeds Up, With Risks for U.S.
BY TOM LAURICELLA

The U.S. dollar’s downward slide is accelerating as low interest rates, inflation concerns and the massive federal budget deficit undermine the currency.

With no relief in sight for the dollar on any of those fronts, the downward pressure on the dollar is widely expected to continue.
The dollar fell nearly 1% against a broad basket of currencies this week, following a drop of similar size last week. The ICE U.S. Dollar Index closed at its lowest level since August 2008, before the financial crisis intensified.

“The dollar just hasn’t had anything positive going for it,” said Alessio de Longis, who oversees the Oppenheimer Currency Opportunities Fund.

The main driver for the dollar’s decline is low interest rates in the U.S. compared with higher and rising rates abroad. Lower rates mean a lower return on cash—and the pressure from that factor could intensify next week when the Federal Reserve’s rate-setting committee is expected to signal that U.S. short-term rates will likely remain near zero for many months to come. On Wednesday, Fed Chairman Ben Bernanke is scheduled to give the central bank’s first-ever press conference following a policy-setting meeting.

But it is worry about the U.S. budget deficit that is intensifying the selloff. On Monday, investors were spooked by a warning from Standard & Poor’s that it might take away the U.S. government’s coveted AAA rating status amid concerns the Obama administration and Republicans in Congress might not be able to agree to significant reductions in the deficit.

In addition, Chinese government officials have stepped up rhetoric hinting they might diversify their $3 trillion of currency reserves away from U.S. dollars. Such a shift would chip away at what has been a substantial source of dollar-buying in recent years.

I dare say that the Wall Street Journal got it wrong this time.   While it certainly might be technically true that the immediate driver of the dollar’s decline is ” is low interest rates in the U.S. compared with higher and rising rates abroad,” that is only a symptom of the ultimate cause of the dollar’s decline.  The bigger picture can be summed up in two words: quantitative easing.  Obama’s Federal Reserve is creating money out of thin air.  And with more dollars chasing the same amount (and actually fewer) finite goods and services, the value of each dollar devalues. 

A week is a long time in Obama’s God damn America.  A fool-in-chief can do a lot of damage in a week:

APRIL 29, 2011
Dollar Skids to New Three-Year Lows
By JAVIER DAVID

NEW YORK—Investors wasted no time in sending the dollar to new three-year lows after the Federal Reserve gave them little reason to support it.

Weak U.S. growth and unemployment data quickened the dollar’s fall. Initial employment claims jumped back above the 400,000 level in the latest week. Meanwhile, gross domestic product data showed that economic growth slowed sharply in the first quarter, led by surging food and energy costs that sent a key gauge of inflation, the personal consumption expenditures (PCE) price index, soaring to its highest level in nearly three years.

Late Thursday, the euro was at $1.4821 from $1.4794 late Wednesday. The dollar traded at ¥81.54 from ¥82.04, while the euro was at ¥120.85 from ¥121.37. The U.K. pound bought $1.6640 from $1.6636. The dollar fetched 0.8733 Swiss franc from 0.8738 franc, plunging to a new record low.

The ICE Dollar Index, which tracks the U.S. dollar against a trade-weighted basket of currencies, was at 73.12 from 73.519, its lowest level since July 2008.

Has Obama made our economy better?  Really?  You’ve been watching and reading mainstream media propagandist lies, haven’t you?  Here’s the reality: our dollar situation is every bit as bad now as it was when the terrible economic implosion of 2008 hit us.  That giant sucking sound you hear all around you is the value and purchasing power of your dollar sinking into the abyss.

Here’s another major economic indicator going right down the toilet:

Home price gains since spring 2009 vanish
The Standard & Poor’s/Case-Shiller index for 20 major U.S. cities in February comes close to its previous bottom reached in April 2009.
By Alejandro Lazo, Los Angeles Times
 April 26, 2011, 5:06 p.m.

The home price gains made after the housing market bottomed in spring 2009 have vanished, with 10 cities posting fresh lows in February, according to a closely watched index that tracks home prices in America’s biggest metropolitan areas.

The Standard & Poor’s/Case-Shiller index for 20 major U.S. cities, released Tuesday, came within a hair of its previous bottom hit in April 2009. The renewed drop in home prices indicates the nation’s housing woes continue despite a recovery in the broader economy.

“There is very little, if any, good news about housing. Prices continue to weaken, while trends in sales and construction are disappointing,” said David M. Blitzer, chairman of the index committee at Standard & Poor’s.

[…]

Foreclosures remain a significant part of the market and probably will remain so for the foreseeable future as borrowers continue to fall behind on their mortgage payments.

Patrick Newport, U.S. economist for consultancy IHS Global Insight, wrote in a note Tuesday that the decline in the index and drops in other home price measures — specifically a monthly index produced by the Federal Housing Finance Agency, which has seen steady declines in recent months — indicate that the housing slump is once again widespread.

The federal agency’s index’s “recent decline indicates that the vicious cycle in which falling prices lead to more foreclosures which lead to even lower housing prices, continues to play a role in keeping housing on the mat,” Newport wrote.

The Case-Shiller index has fallen to nearly the same level it was in April 2009, the last time it bottomed, evaporating the gains made last year after a popular tax credit for buyers fueled sales nationally. Experts predict prices will continue to fall this year, pushing past their previous lows into a much-feared double dip.

The only thing propping up the economy under Obama’s morally and fiscally idiotic policies is QE2.  Banks and major businesses are not being allowed to fail (it’s all too big too fail in an increasingly fascist system in which the government dominates the banking and corporate spheres).  Right now, the system Obama has only made more broken is being kept afloat in cash being created out of thin air.  The last time quantitative easing ended, the DOW immediately lost 16% of its value in two weeks.  And QE2 is set to end in June.

This means QE3, and then of course QE4.  Because “QE” means “Quack Economics” far more than it should mean anything else.

The following video WAS a fictional account warning us of what could happen.  But it is about to become news before history confirms it:

And do I really have to say anything about gas prices?  Gas was $1.79 a gallon when Obama took office; it is now $3.91 and going up every single day.  That is an increase of more than 118%.  How’s that hope n’ change workin’  out for ya?

Should I mention corn?  Field corn has increased 300% (from $2 a bushel in 2009 to $6 a bushel now) under Obama’s dreadful godawful policies

Wheat prices have more than doubled.  These are basic staples used in everything. 

Food costs more than at any time since 1974.  And it’s going to get much, much worse.  Prices for food and meat are going to soar in the coming days.

Liberals say they care about the poor.  But they don’t give a damn about the poor.  All Democrats want is to “fundamentally transform” America into a socialistic system where they can maintain power forever.

The other thing to say about the above is that Gerald Celente predicted in 2008 that food riots and revolution would overtake America by 2012.  I pointed out in a recent article that what he said is exactly coming to pass both here and around the most flammable region on earth.

And all the unrest you’re seeing around you is simply the Cloward and Piven strategy for bringing about the downfall of the United States of America finally coming to pass exactly like the left wants, and exactly like people like me were talking about for the last two years.

Nobody’s really telling you about what’s happening or about what’s coming.  And that’s mostly because nobody wants to hear about it.

When Adolf Hitler seized power (he never took more than 37% of the vote, but that doesn’t stop a big government tyrant from seizing total power), he began to ruthlessly suppress dissent.  Today, the Democrat Party has pushed on attempt to impose one euphamistically-named “Fairness Doctrone” after another to shut down competing voices, even as Nancy Pelosi now demands a system in which “elections shouldn’t matter so much” in the aftermath of the one that drove her from power).

I think of one journalist named Stephen Laurent who was impriosoned for trying to tell the truth about Hitler.  He wrote:

“I am writing this from cell 24. Outside a new Germany is being created. Many millions are rejoicing. Hitler is promising everyone precisely what they want. I think when they wake to their sobering senses, they will find they have been led by the nose and duped by lies.”

And that is where America is heading.  Only there will be no America to rebuild America the way the United States of America rebuilt Germany in the aftermath of Germany reaping its whirlwind after sowing the wind.  Obama himself will have seen to that.

The funniest thing about this – if anything about America turning into a socialist banana republic is “funny” – is that it will be the left who so rabidly despise the Word of God (otherwise known as the Holy Bible) who will bring about it’s ultimate fulfillment.

The beast is coming.  He will be a one-world global leader who will take over in the catastrophic aftermath of false messiahs like Barack Hussein Obama.  He will be the personification of the United Nations and globalism and a world without borders and all the other total idiocy the left has been jabbering about for decades.  He will represent the sum total of everything the liberals have ever yearned for.

The secular humanist left has said that if they could just take over, they would create a humanist Utopia.  God is going to give them their chance in the Tribulation with the big government Utopia of the Antichrist.

And in just seven years he will have brought a literal hell on earth.

It will be the left – it will be the people who most hate and despise and mock the Bible – that brings about all of the end times prophecies of the very Bible they so ridicule.

Barack Obama is an example of the sneering tone of the left toward the Word of God:

Which passages of Scripture should guide our public policy? Should we go with Leviticus, which suggests slavery is ok and that eating shellfish is abomination? How about Deuteronomy, which suggests stoning your child if he strays from the faith? Or should we just stick to the Sermon on the Mount – a passage that is so radical that it’s doubtful that our own Defense Department would survive its application? So before we get carried away, let’s read our Bibles. Folks haven’t been reading their Bibles.

But I have been reading my Bible, President Obama.  And I’m seeing more and more reasons to believe it and accept it as God’s Word about a time which is now at hand.

I see the dollar devaluing to nothing; I see the cost of food skyrocketing.  And I consider the words of the book of Revelation:

He also forced everyone, small and great, rich and poor, free and slave, to receive a mark on his right hand or on his forehead, so that no one could buy or sell unless he had the mark, which is the name of the beast or the number of his name” (Revelation 13:16-17)

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Just How Is Obama NOT An Abject Failure?

August 27, 2010

Under Barry Husseins’ pathetic failure of leadership, 24% of Americans believe that the recession will last 2 years.  And another 51% believe that it will last MORE than two years.  Given the fact that Obama will only be president for another two years, and given the fact that Obama was elected to fix the economy, what we basically have is a statement from 75% of Americans that Obama will be a completely failed president.

Here’s another one, and allow me to quote from below:

Only 13 percent of Americans say Mr. Obama’s economic programs, among them the stimulus package, have helped them personally. Twenty-three percent say they have hurt, while 63 percent say they have had no effect.

Now, understand: the stimulus is officially $862 billion, but it’s actual cost according to the Congressional Budget Office will be $3.27 TRILLION.  And 87% of the American people say that this beyond supermassive sum of money which will burden our children for decades either had no effect at all or actually HURT them.

Now, this $3.27 trillion will surely ultimately be ripped out of the hide of the US economy.  It’s only a matter of time.  An increase in the money supply is rather like an overdose of drugs.  And in this case the effect of the overdose will be hyperinflation.  Basically, the moment we have any kind of genuine recovery, our staggering deficit is going to begin to create an ultimately gigantic inflation rate.  Why?  Because we have massively artificially increased our money supply beyond our ability to actually produce real wealth, and that means that money will ultimately be devalued.  There’s simply no way it can’t be.  If simply printing money solved financial problems, the government could just mail everyone several million dollars, and we could all retire.  The problem is that more money chasing a limited supply of goods simply pushes up prices higher and higher without doing anything to solve the underlying economic problems.  If we have a recovery, with increased economic activity, there will be increased demand on the money supply, forcing an upward climb in interest rates as a means of controlling the currency.  And then we’ll begin to seriously pay for Obama’s and the Democrat Party’s sins.  Paradoxically, the only thing preventing hyperinflation now is the recession, because people aren’t buying anything and therefore aren’t competing for those limited goods.

That said, there is solid evidence that the stimulus actually HURT THE ECONOMY AND EMPLOYMENT IN THE RIGHT-HERE-AND-NOW by sucking money out of the private sector where it would have been put to good use and instead funneling it through the government were it was pissed away on political boondoggles and bureaucratic inefficiencies.  The evidence is clear: the governments that did not pass huge stimulus packages have fared much better than those like the US which did.

A further fact in our economic and political collapse is that Obama is creating a permanent elite class of government bureaucrats.  USA Today found that “At a time when workers’ pay and benefits have stagnated, federal employees’ average compensation has grown to more than double what private sector workers earn.”  Obama has massively expanded government, even as the the real pie for everyone (the economy) has been shrinking.  Since government workers don’t actually create wealth, but merely live off the taxes paid by those who create wealth, and since there are more and more government workers and fewer and fewer private sector workers, we’re heading for a real problem.  Again, “paradoxically” is a good word, as paradoxically Obama is creating a ruling class over the people who consume the peoples’ wealth in the name of helping the people.

And all of the above contributes to why Gerald Celente says America is about to experience what he calls “the Greatest Depression.”

July 13, 2010 6:30 PM
Poll: Americans Say Bad Economy Will Linger
Posted by Brian Montopoli

CBS News Poll analysis by the CBS News Polling Unit: Sarah Dutton, Jennifer De Pinto, Fred Backus and Anthony Salvanto.

(Credit: CBS)

A majority of Americans have a negative impression of the economy and expect the effects of the recession to linger for years, according to a new CBS News poll.

Most also say President Obama has spent too little time on the economy, which Americans cite as the country’s most important problem by a wide margin.

Three in four Americans now say the effects of the recession will last another two years or more. More than eight in 10 say the condition of the economy is bad, up five points from last month.

Just 25 percent of Americans say the economy is getting better – down from 41 percent in April. About half say it is staying the same, and the remaining quarter say it is getting worse.

More than half of Americans – 52 percent – say Mr. Obama has spent too little time dealing with the economy.

And with unemployment near 10 percent, the economy is their priority: Thirty-eight percent volunteer it as the country’s most important problem. That far outpaces the percentage that cited the wars in Iraq or Afghanistan (seven percent), health care (six percent), the deficit (five percent), and the oil spill in the Gulf (five percent).

The county’s most important economic problem, Americans say, is jobs, volunteered by 38 percent of respondents. Coming in a distant second was the national debt, the deficit and spending, cited by 10 percent in the poll, which was conducted between July 9th and 12th.

Just 27 percent of Americans say their local job market is good. Seventy-one percent call it bad. Nearly one in four expect their household finances to get worse over the next year, twice the percentage that expects their finances to improve.

Only 13 percent of Americans say Mr. Obama’s economic programs, among them the stimulus package, have helped them personally. Twenty-three percent say they have hurt, while 63 percent say they have had no effect.

Twenty-three percent say the stimulus package made the economy better – down from 32 percent in April and 36 percent last September. Eighteen percent say the stimulus package damaged the economy, while 56 percent say it had no effect.

The president’s job approval rating on the economy now stands at 40 percent – a drop of five points from last month. Fifty-four percent disapprove of his handling of the issue.

In general, Americans see Mr. Obama as spending too little time on the economy and the oil spill in the Gulf, and too much time on health care: Thirty-nine percent say he has spent too much time on the issue, while 24 percent say he spent too little time.

Americans do believe the president takes decisive action, with two and three suggesting he does. But more than half (53 percent) say he is not tough enough in his approach.

Americans are evenly split, meanwhile, on whether the president shares their priorities. Two in three believe he cares at least to some degree about people like them.

The president’s overall approval rating now stands at 44 percent, matching his disapproval rating. It stood at 47 percent last month.

The Issues: Economic Priorities

Most Americans – 53 percent – say the best way to get the economy moving is to cut taxes. Thirty-seven percent instead choose government spending on job creation.

Americans are split about how the federal government should spend its money: Forty-six percent say the priority should be spending to create jobs, and 47 percent want to put the focus on deficit reduction.

More than half want Congress to extend unemployment benefits now, a Democratic priority that has been blocked by Congressional Republicans.

Immigration:

Support for Arizona’s controversial immigration measure has increased: Fifty-seven percent say the law is “about right,” up five points from May. Just 23 percent say the law goes too far, while 17 percent say it doesn’t go far enough.

More than half say states should be allowed to pass illegal immigration laws, while 42 percent say only the federal government should have that power.

Americans are somewhat split on the impact of illegal immigrants: 42 percent say they take jobs away from Americans, while more – 50 percent – say they take jobs Americans don’t want.

Health Care:

Americans still largely disapprove more than they approve of Mr. Obama’s sweeping health care reforms. Forty-nine percent of Americans disapprove of the health reform legislation, while 36 percent support the law. Support has dropped seven points since May.

The Oil Spill:

Americans are roughly evenly split on whether BP will stop the flow of oil in the Gulf of Mexico by the end of the summer. Most (58 percent) are not confident that the company will fairly compensate those affected by the spill.

Wall Street Reform:

With Democrats poised to pass sweeping reforms of Wall Street this week, a majority (57 percent) say bank regulations should be increased.

Afghanistan and Iraq:

Sixty-two percent of Americans say things are going badly for the United States in Afghanistan, up from 49 percent in May. Just 31 percent say things are going well.

In Iraq, 55 percent say things are going well, while 28 percent say things are going badly.

Most Americans favor a timetable for withdrawing troops from Afghanistan. Fifty-four percent back a timetable, while 41 percent oppose one. Mr. Obama has said the United States will start removing troops from the country in July of next year, but only if conditions on the ground permit.

Elena Kagan:

Most Americans can’t say whether Supreme Court nominee Elena Kagan should be confirmed. Among those who have an opinion, 21 percent say yes and 19 percent say no. Less than half say they are closely following news about her nomination.

The Long Run:

Despite their concerns about the economy, Americans do not believe their country is on the decline. Fifty-nine percent expect things to get better in the long run, while 36 percent say America’s best days have passed.

Read the Complete Poll

More from the poll:

Poll: Support For Health Care Reform Drops

Poll: Most Want Afghanistan Withdrawal Timeline

Poll: Support for Arizona Immigration Law Hits 57 Percent

Obama’s Approval Rating on Economy Drops


This poll was conducted among a random sample of 966 adults nationwide, interviewed by telephone July 9-12, 2010. Phone numbers were dialed from random digit dial samples of both standard land-line and cell phones. The error due to sampling for results based on the entire sample could be plus or minus three percentage points. The error for subgroups is higher.

This poll release conforms to the Standards of Disclosure of the National Council on Public Polls.

This article was written in July.  And it is amazing how far we have fallen since those days only a little over the month ago (that was back when Obama was pitching his pseudo “summer of economic recovery, donchaknow).

Now here we are, with Obama’s failures being revealed to be even MORE magnificent, as the jobless claims rise to their highest levels in 9 months (with over half a million new filings).

The Associated Press reports:

The layoffs add to growing fears that the economic recovery is slowing and the country could slip back into a recession.

There’s your double-dip recession for you.  And that recession belongs entirely to Obama and the Democrat Party, which are leading us toward complete ruination.

All Obama has going for him are false blame on Bush to explain his two-years’ worth of abject failure and outright lies, such as his recent one taking credit for a stimulus dollar success when the stimulus didn’t have anything to do with the project Obama cited.

For the record, Obama has been lying about employment all along.

With $862 billion dollars you’d think Obama could find at least one actual success.  But the porkulus was THAT bad; there weren’t any.

Some other things that the poll didn’t mention: a solid majority of Americans now believe that their president is a socialist (as people like me were saying all along).

And Americans now trust Republicans more than Democrats on ALL TEN of the most important issues facing the country, according to the lastest Rasmussen survey:

If all of this doesn’t represent a massive failure of leadership, precipitating a failure of trust which itself creates massive economic suffering, please tell me how it isn’t.

Mystefied Democrats See Tide Going Out Rapidly, With Huge Wave Appearing Over The Horizon

August 25, 2010

There’s an article on how to spot the warning signs of a tsunami.  Point #3 says:

Watch. If there is a noticeable and rapid fall in the water and it’s not time for low tide, head inland immediately. Think of how waves work: water first pulls back, then returns with force. An excessive or unusual retreat of water in the ocean is the biggest indication of a tsunami. Many people died in the Indian Ocean tsunami because they went to observe the bare sea floor after the ocean retreated.

That’s your Democrat Party for you.  They’re looking at the bare sea floor after the ocean retreated, too short-sighted to see the huge building wave in the horizon, too uncomprehendingly stupid to change and move to safer places.

So they keep spending more, and more, and more, and demonizing Republicans because they aren’t willing to recklessly spend.  And they demagogue on issues like the Arizona law and the Ground Zero mosque, attacking Republicans who have staked their ground on positions that the American people overwhelmingly agree with them on.  And of course there’s ObamaCare, which was hugely unpopular from the start to the finish, and yet Democrats used every godawful and corrupt means imaginable to ram down our national throats.

Ignorance is bliss, until that giant wave hits you like a billion freight trains.

Scared Monkeys ran this block quote from an article in the New York Times, mocking the liberal paper for finally figuring out that Democrat control of Congress was genuinely at risk:

Representative David R. Obey has won 21 straight races, easily prevailing through wars and economic crises that have spanned presidencies from Nixon’s to Obama’s. Yet the discontent with Washington surging through politics is now threatening not only his seat but also Democratic control of Congress.

Mr. Obey is one of nearly a dozen well-established House Democrats who are bracing for something they rarely face: serious competition. Their predicament is the latest sign of distress for their party and underlines why Republicans are confident of making big gains in November and perhaps even winning back the House.

The fight for the midterm elections is not confined to traditional battlegrounds, where Republicans and Democrats often swap seats every few cycles. In the Senate, Democrats are struggling to hold on to, among others, seats once held by President Obama and Vice President Joseph R. Biden Jr. Democrats are preparing to lose as many as 30 House seats — including a wave of first-term members — and Republicans have expanded their sights to places where political challenges seldom develop.

But more and more political pollsters are seeing not 30 Democrat seats going Republican, but double and even triple that number:

A 1994-style scenario is probably the most likely outcome at this point. Moreover, it is well within the realm of possibility – not merely a far-fetched scenario – that Democratic losses could climb into the 80 or 90-seat range. The Democrats are sailing into a perfect storm of factors influencing a midterm election, and if the situation declines for them in the ensuing months, I wouldn’t be shocked to see Democratic losses eclipse 100 seats

Here’s a link to that entire Real Politics article by Sean Trende.

And with the latest news of a 27% plunge in existing home sales – the worst decline since the LAST TIME a Democrat was president – it seems that the “situation” has declined for them in these ensuing months.

This news is a stunning economic indicator, because mortgage rates are at an all-time low, and low-priced home bargains abound, and people STILL aren’t buying.

From USA Today:

Economic forecasts were plenty pessimistic ahead of Tuesday’s report by the National Association of Realtors because of other data pointing to weakening sales since the federal tax credit ended in April.

The actual numbers were far worse — sales fell more than 27% from June and 25% from a year ago to an annual rate of 3.83 million units.

It is not clear if the housing market hit a huge air pocket or crashed and burned, but for now, this sector looks to be flat on its back,” says Joel Naroff of Naroff Economic Advisors.

The stunning drop-off when mortgage rates are at historic lows indicates many potential buyers have lost confidence, Naroff says. “If no one is confident, I don’t know that the interest rates matter, no one is going to want to borrow,” he says.

Economists say Tuesday’s report also indicates that the housing recovery has faltered.

This qualifies as a double dip in housing,” says Mark Zandi, chief economist of Moody’s Analytics, adding buyer confidence has also been shaken by a weakening stock market and a lack of jobs. “These are pretty ugly numbers.”

No region of the country was spared: Existing-home sales fell 35% in the Midwest, 30% in the Northeast, 25% in the West and 23% in the South.

In addition to the one trillionth usage of the mainstream media’s favorite adverb – “unexpected” – being employed, I’m seeing a far more frightening adverb: “double dip.”

As in “double-dip recession.”  As in, how is Obama going to blame Bush for a second recession that occurred entirely while “the One” was president?  Remember Obama’s economic team telling us the recession was over? Remember Obama and Biden boasting of their “Recovery Summer”?

If Bush’s recession is over, but we’re going into a recession, then just who the hell owns this recession?

Blame Obama.

Reuters has the following:

(Reuters) – More Americans now disapprove of President Barack Obama than approve of him as high unemployment and government spending scare voters ahead of November’s congressional elections, a Reuters/Ipsos poll showed on Tuesday.

In the latest grim news for Obama’s Democrats, 72 percent of people said they were very worried about joblessness and 67 percent were very concerned about government spending.

The unemployment rate of 9.5 percent and the huge budget deficit are dragging down the Democrats and eating away at Obama’s popularity only 20 months after he took office on a wave of hope that he could turn around the economy.

Another bit of bad economic data arrived on Tuesday when the National Association of Realtors reported sales of existing homes plummeted in July to their slowest pace in 15 years.

Piling the pressure on Obama, the top Republican in the House of Representatives called on the administration’s economic team to quit.

Obama’s disapproval rating was 52 percent in Tuesday’s poll, overtaking his approval rating for the first time in an Ipsos poll. Only 45 percent of people said they approved of the president’s performance, down from 48 percent last month.

That number, coupled with a hearty 62 percent who think the country is going in the wrong direction, could spell trouble for Democrats, who control both chambers of Congress and the White House.

Let me paraphrase that last paragraph:

That tsunami, couple with a giant tidal surge that is pushing everything in the country backwards in the wrong direction, could spell trouble for residents around the Indian Ocean, who live in regions that are now fifty feet underwater.

Obama is reading some finely-honed demagoguery off his teleprompters, talking about Republicans having led us in the wrong direction, and cars, and ditches, and not giving Republicans the car keys.  But now more Americans by a wide margin think Obama sucks even according to the left-leaning Ipsos polling organization.  And 62% of Americans think the “wrong direction” is the one Obama is leading them in.

Mind you, reality won’t stop Joe Biden from guaranteeing that the Democrats will retain control of the House.

On my view, Republicans easily take the House in an eye-popping takeover, and yes, either retake the Senate, too, or fall just short.  Everything will have to go right for Republicans and wrong for Democrats in order for Republicans to win the ten seats they need, but let’s not forget that Democrats are in full meltdown mode.

Which is why on November 2 I’ll be watching the election with the Beach Boys’ “Catch a Wave” playing over and over in the background.

CBS Poll Reveals Obama Hits NEW Low After Imposing Terrible ObamaCare

April 2, 2010

The Wicked President of the West isn’t dead, but he’s melting, MELTING

April 2, 2010 7:01 AM
Obama’s Approval Rating Hits New Low
Posted by Tucker Reals


CBS News Poll analysis by the CBS News Polling Unit: Sarah Dutton, Jennifer De Pinto, Fred Backus and Anthony Salvanto.


Last week, President Obama signed historic health care reform legislation into law — but his legislative success doesn’t seem to have helped his image with the American public.

The latest CBS News Poll, conducted between March 29 and April 1, found Americans unhappier than ever with Mr. Obama’s handling of health care – and still worried about the state of the economy.

President Obama’s overall job approval rating has fallen to an all-time low of 44 percent, down five points from late March, just before the health bill’s passage in the House of Representatives. It’s down 24 points since his all-time high last April. Forty-one percent of those polled said they disapproved of the president’s performance.

More results from this CBS News Poll will be released in Friday’s broadcast of the Evening News with Katie Couric, which airs at 6:30 p.m. Eastern.

When it comes to health care, the President’s approval rating is even lower — and is also a new all-time low. Only 34 percent approved, while 55 percent said they disapproved.

Americans are still worried about the economy, with 84 percent telling CBS they thought it was still in bad condition. However, even that high number represents an improvement: nine in ten thought the economy was bad during the last half of 2008 and at the beginning of 2009, when Mr. Obama assumed the Presidency.

Concern about job loss remains high; slightly more Americans now (35 percent) than in February (31 percent) were “very concerned” that someone in their household would lose a job. Nearly six in ten Americans said they were at least “somewhat concerned” about a job loss.

As has often been the case, lower-income Americans tend to be the most concerned about job loss.

This concern is reflected in yet another low approval rating — this time for the President’s handling of the economy. Just 42 percent said they approved of how President Obama is handling the economy, only one point above January’s all-time low. Half of the public disapproves.

It gets even better as we learn how truly outraged independents are over the incredibly polarizing and partisan tactics this incredibly dishonest, cynical weasel has used to “fundamentally transform” a free market economy into socialism.  From the Washington Times:

Friday, April 2, 2010
Independent voters turn from hopeful to angry
Democrats no longer ride tide of support
By Jennifer Haberkorn

President Obama and congressional Democrats face an uphill climb to reclaim the support of independent voters who vaulted them to the White House and huge majorities in Congress in 2008.

At the end of the bitter, intensely partisan battle to pass Mr. Obama’s health care overhaul plan, independent voters, once captivated by hopeful campaign promises, are feeling burned and appear eager to oust Democrats in November’s midterm elections.

This is the time that we need to take a page from both Barack Obama AND Sarah Palin.

First we need to get “Fired up, ready to go.”  And then we need to RELOAD before getting fired up again.  And again.  And again.  And again, until the worst and most radical and most unAmerican president in history is long gone to go along with the Democrat disaster in Congress.

Obama and the Democrats KNEW that ObamaCare was reviled by the American people; and then they usurped the will of the people and used every parliamentary trick in the book to impose it anyway.

Now it’s the law of the land, and we’re starting to see what a stinking pile of crap it truly is.  First we learned that Obama and the Democrats flat-out LIED when they said that children with pre-existing conditions would be covered as soon as the bill was passed.  That’s just one of an avalanche of lies Obama told the country to push his health care takeover.

Then we learned that thousands of companies were going to be forced to take billions of dollars in writedowns forced upon them by ObamaCare.  The tally so far:

Company                  Charge
AT&T                     $1B
Verizon                  $970M
John Deere               $150M
Boeing                   $150M
Prudential               $100M
Caterpillar              $100M
Lockheed Martin          $96M
3M                       $85M
Exelon Corp.             $65M
AK Steel                 $31M
Eaton                    $25M
IL Tool Works            $22M
Xcel Energy              $17M
Valero                   $15M
Honeywell                $13M
Goodrich                 $10M
Allegheny Technologies   $5M

And the thing is that 3,500 companies are going to find out that they are in the same boat, to the tune of at least $14 billion in private sector profits that will be transferred to a power-hungry government instead of being used to create jobs and expand the economy.

The above is a gift that is going to keep giving – or rather keep taking profits away from businesses and jobs away from citizens.

Then we saw that ObamaCare had prompted a massive sell-off of US Treasuries:

Sell-off in US Treasuries raises sovereign debt fears
Investors are braced for a further sell-off in US Treasuries after dramatic moves last week raised fears that the surfeit of US government debt is starting to saturate bond markets.

By Ambrose Evans-Pritchard
Published: 9:06PM BST 28 Mar 2010

The yield on 10-year Treasuries – the benchmark price of global capital – surged 30 basis points in just two days last week to over 3.9pc, the highest level since the Lehman crisis. Alan Greenspan, ex-head of the US Federal Reserve, said the abrupt move may be “the canary in the coal mine”, a warning to Washington that it can no longer borrow with impunity. He said there is a “huge overhang of federal debt, which we have never seen before”.

David Rosenberg at Gluskin Sheff said Treasury yields have ratcheted up 90 basis points since December in a “destabilising fashion”, for the wrong reasons. Growth has not been strong enough to revive fears of inflation. Commodity prices peaked in January and US home sales have fallen for the last three months, pointing to a double-dip in the housing market.

And why is this?

The trigger for last week’s sell-off was poor demand at Treasury auctions, linked to the passage of the Obama health care reform. Critics say it will add $1 trillion (£670bn) to America’s debt over the next decade, a claim disputed fiercely by Democrats.

Dispute away, you loathsome liars.  But the facts are on the table.

Why you’re explaining away how ObamaCare will cost massively more than you falsely claimed, maybe you can also explain away Obama’s stratospheric spending deficits that make Bush’s worst year look like stringent fiscal discipline.

What we are seeing is Thelma & Louise policies.  Those are the kind of policies that see us insanely driving off a cliff at top speed.

Democrats own all of this now.  They can’t blame anybody but themselves, because they were the only ones who voted for it, and who polarized the country to ram it down our throats.

What’s the result of the Democrats’ idiotic policies?  Ask Treasury Secretary Timothy Geithner, who just told us that sky-high “unemployment is likely to remain unacceptably high for a long time.”

The unemployment rate “is still terribly high and is going to stay unacceptably high for a very long time,” Geithner said.

Of course, if unemployment is going to stay “unacceptably high” for “a very long time,” you’re pretty much accepting it, aren’t you?

You can accept an “unacceptably” awful one-party rule that is destroying the American way of life chunk by chunk, or you can refuse to accept the “unacceptable” and vote these radicals out of office in seven months.

Democrats are betting that you are too stupid and too short-sighted to hold them accountable.

Whether that’s true is up to you.

ObamaCare Destroying Demand For US Treasury Bills

March 29, 2010

Boy, this ObamaCare deal just keeps looking better and better.

First, we see US corporations and businesses forced to take writedowns to the tune of billions of dollars of profits that would otherwise have gone into getting the economy out of recession and creating jobs.  Why are they losing all this money?  Because they committed the unpardonable sin of trying to give their retirees excellent private health care.  The Democrats – whom we’ve been saying all along want to socialize the health care system – can’t be having that.  So they took away the tax incentives that made providing such benefits worth doing for the companies.

That’s bad.  That’s really bad.  And anyone who is actually paying attention should be coming unglued that our new law of the land health care system is not only going to destroy American jobs, but American employee-based health care, too, all in one fell swoop.

But as it so often has been with Obama, it actually gets even worse:

Sell-off in US Treasuries raises sovereign debt fears
Investors are braced for a further sell-off in US Treasuries after dramatic moves last week raised fears that the surfeit of US government debt is starting to saturate bond markets.

By Ambrose Evans-Pritchard
Published: 9:06PM BST 28 Mar 2010

The yield on 10-year Treasuries – the benchmark price of global capital – surged 30 basis points in just two days last week to over 3.9pc, the highest level since the Lehman crisis. Alan Greenspan, ex-head of the US Federal Reserve, said the abrupt move may be “the canary in the coal mine”, a warning to Washington that it can no longer borrow with impunity. He said there is a “huge overhang of federal debt, which we have never seen before”.

David Rosenberg at Gluskin Sheff said Treasury yields have ratcheted up 90 basis points since December in a “destabilising fashion”, for the wrong reasons. Growth has not been strong enough to revive fears of inflation. Commodity prices peaked in January and US home sales have fallen for the last three months, pointing to a double-dip in the housing market.

Mr Rosenberg said the yield spike recalls the move in the spring of 2007 just as the credit system started to unravel. “The question is how the equity market is going to handle this back-up in rates,” he said.

The trigger for last week’s sell-off was poor demand at Treasury auctions, linked to the passage of the Obama health care reform. Critics say it will add $1 trillion (£670bn) to America’s debt over the next decade, a claim disputed fiercely by Democrats.

It is unclear whether China is selling US Treasuries after cutting its holdings for three months in a row, or what its motive may be. There are concerns that Beijing may be sending a coded message before the US Treasury rules next month on whether China is a “currency manipulator”, though experts say China is clearly still buying dollar assets because it is holding down the yuan against the greenback. Some investors may be selling Treasuries as a precaution against a trade spat.

Looming over everything is the worry that markets will not be able to absorb the glut of US debt as the Fed winds down its policy of bond purchases, starting with an exit from mortgage-backed securities. It currently holds a quarter of the $5 trillion of the MBS market.

The rise in US bond yields has set off mayhem in the 10-year US swaps markets. Spreads turned negative last week, touching the lowest level in 20 years. The effect was to drive credit costs for high-grade companies such as Berkshire Hathaway below that of the US government. This may have been a technical aberration.

Democrats can say whatever the hell they want, but people who AREN’T arrogant, incompetent, ignorant fools understand that ObamaCare is going to be to the US deficit what the HMS Titanic was to the cruise liner industry.

Let’s sum up the above article in bullet points.  Stop me when I get to something that sounds like it ISN’T a complete unmitigated disaster in the making:

  • Investors are braced for a further sell-off in US Treasuries after dramatic moves last week raised fears that the surfeit of US government debt is starting to saturate bond markets
  • The yield on 10-year Treasuries – the benchmark price of global capital – surged 30 basis points in just two days last week to over 3.9pc, the highest level since the Lehman crisis
  • Alan Greenspan, ex-head of the US Federal Reserve, said the abrupt move may be “the canary in the coal mine”
  • there is a “huge overhang of federal debt, which we have never seen before”
  • Treasury yields have ratcheted up 90 basis points since December in a “destabilising fashion”, for the wrong reasons
  • the yield spike recalls the move in the spring of 2007 just as the credit system started to unravel
  • The trigger for last week’s sell-off was poor demand at Treasury auctions, linked to the passage of the Obama health care reform
  • Looming over everything is the worry that markets will not be able to absorb the glut of US debt
  • The rise in US bond yields has set off mayhem in the 10-year US swaps markets
  • Spreads turned negative last week, touching the lowest level in 20 years

I tried to explain this growing economic crisis facing the US last month in an article entitled, “Greek Crisis Coming To Your Neighborhood Soon“:

We’re borrowing huge sums of money at a current rate of about 3% interest.  But as the lenders start getting nervous, they’re going to want to increase that interest.  We are in plenty of trouble paying these trillions of dollars back at 3% – but what happens if the interest increases to 5% or 7% as it could very quickly do?  The costs of paying these loans would rise to catastrophic levels, and we could find ourselves literally bankrupt overnight.

And we’ve just jumped from 3 to 4 percent in a great big hurry.

Like I’ve been saying: ObamaCare will ultimately be the anvil that breaks the camels back.

Democrats are telling you this is all just so good.  It’s good that the Democrats created the most gigantic and sweeping legislation in 60 years on a hard-core partisan vote.  It’s good that said bill was shenaniganized to create the illusion that it was “deficit neutral” while in reality it will cost over $6 trillion dollars.  It’s good that companies are going to lose billions of job-creating dollars as Democrats robbed every money-bag they could to fund their next boondoggle.  It’s good that Obama is sending our deficit into the stratosphere while setting up a banana republic-style debt-to-GDP ratio.  And, of course, it’s good that we’re seeing the value of our national holdings rapidly dissolving away.

You’re not that stupid, are you?

I mean, I have to ask: after all, you DID vote stupid when you elected Obama and loaded Congress with Democrats.