Posts Tagged ‘jobless claims’

Congratulations, America, You Got What You Voted For: Soaring Unemployment, A Crashing DOW. Next Comes The Beast (You’ll Be Worshiping Him Soon)

November 15, 2012

As I noted, the day following the re-coronation of Obama as the Pharaoh in Chief saw the DOW plunge to historically high levels as investors and businesses pretty much said, “To hell with it.”

The 313 point plunge in the DOW on November 7, 2012 was the second worst point-drop in history following a presidential election and tied for fourth in American history in terms of overall drop in value.  Obama actually set the record for both categories when he was elected in 2008: the day of November 5, 2008 that followed the news that Obama would have his first four years to destroy the American economy was greeted with an almost 500-point drop or a 5% decrease in the value of the DOW.  And November 7th’s DOW drop puts the kibosh on any assertion that November 5 of 2008 was somehow a fluke.  So let’s say it with enthusiasm: “you’re #1, Obama!  No one but no one can destroy an economy like you!”

In both cases, it was the economy saying that a president like Barack Obama who would declare war on jobs, on productivity, and pretty much on anything that makes America great, is akin to a judgment of doom for this nation.

Since Obama was reelected, investors and business have decided that the economy and job-creation will take a four-year vacation.  The DOW has taken a nearly 700-point plunge since Obama was reelected as of today.

I know, I know, liberal.  Those vile rich people should all die and their flesh should be ground up for food after all the wealth they worked so hard to build for themselves and for their children has been confiscated and redistributed.

Here’s the thing: jobs are going the way of the Dodo bird and rich people in America.  Because people who voted for Obama don’t want jobs; they want socialism and communist redistribution of other people’s money.

The Lonely Conservative – and dang, I’m feeling kind of lonely since last week too, I’ve got to admit – posted these little factoids about Obama and the job boom that will now clearly never happen:

Initial Jobless Claims Soar To 439,000 – Updated
November 15, 2012
By Lonely Conservative

Isn’t it interesting that the jobless claims reported in the weeks leading up to the election were so low, and now that the election is behind us we get a report like this one? Of course, it was all unexpected to economists, who didn’t see the whopping 439,000 coming. Naturally, MarketWatch is doing their duty and blaming it on Sandy. You know, because it couldn’t have anything to do with the massive layoffs due to Obamacare.

The damage caused by Hurricane Sandy sent U.S. jobless claims soaring by 78,000 in the week ended Nov. 10 to an 18-month high of 439,000, according to the latest government figures. A Labor Department official on Thursday said claims surged in the eastern parts of the country that laid in the path of the storm. The destruction of job sites, closure of government offices and widespread power outages caused more people to file claims after an initial delay. Economists surveyed by MarketWatch had expected claims to climb to 380,000 on a seasonally adjusted basis. Initial claims from two weeks ago were revised up to 361,000 from an original reading of 355,000, based on more complete data collected at the state level. (Read More)

Good grief, when they revise this number what will it go up to?

If that’s not bad enough, have you seen how the stock market has been doing since the election?

Ever since Obama won eight days ago, stock prices are down about 4% as this is being recorded. So stocks peaked September 14—two months before the election—when the Federal Reserve announced the current version of quantitative easing, and stocks held up pretty much right through an election day rally.

But now that the election is over stocks are dropping with no bottom in sight. This is no accident given investors’ fears of higher taxes and continued big spending, including higher taxes on capital gains, which inevitably will tank the economy. In fact, I believe we are headed for a recession. (Read More)

Well, it’s not like people weren’t warned. If you’re an Obama voter and having second thoughts, you might want to re-think where you get your news in the future.

Update: Zero Hedge is a good place to get economic news, like this:

The latest initial claims data posted a multi-year high 104,548 surge in weekly NSA claims from 361,800 to 466,348, and even the Seasonally adjusted number soaring from 361K to 439K on expectations of a 375K print. In other words, a complete disaster for any economic data bulls. What is truly amusing is that the same Wall Street “experts” who set expectations were unable to foresee the Sandy effect that every “macrotourist” on Twitter apparently is so very aware of. Also, it is apparently also “Sandy’s fault” (now that the Bush excuse is back in retirement) that the prior week’s claims were revised from 355K to 361K. Basically, just as we said 3 weeks ago, ignore every negative data point: it is Sandy’s fault. However, for the snapback, when there actually is good news to be had, well, “four more years.” Finally, to all the Sandy apologists: is the logic here that: if Hurricane, then Fire everyone? Because that is what is implied… (Read More)

Update 2: Oh look – The Euro Zone is in another recession, so jobless claims can be blamed on that!

Update 3: The states with the highest number of new jobless claims were Ohio and Pennsylvania. Go figure.

That 439,000 new jobless filing is the worst since April of 2011.

“Forward” is a great slogan and everything, but the only way Obama is going to take America “forward” is to drive us off the fiscal cliff that was his bright idea to create in the first place (and see here for more because Obama set this disaster up from the very start).  The fact of the matter is that it is a documented fact by one of the great journalists in American history that the idea for sequestration – i.e. the “fiscal cliff” or “taxmageddon” – came from Obama’s chief of staff Jack Lew and Rob Nabors (Obama’s White House Assistant to the President and head of the White House’s Office of Legislative Affairs).  The money quote:

At 2:30 p.m. Lew and Nabors went to the Senate to meet with Reid and his chief of staff, David Krone. ‘We have an idea for the trigger,’ Lew said. ‘What’s the idea?’ Reid asked skeptically. ‘Sequestration.’ Reid bent down and put his head between his knees, almost as if he were going to throw up or was having a heart attack. He sat back up and looked at the ceiling. ‘A couple of weeks ago,’ he said, ‘my staff said to me that there is one more possible’ enforcement mechanism: sequestration. He said he told them, ‘Get the hell out of here. That’s insane. The White House surely will come up with a plan that will save the day. And you come to me with sequestration?’ Well, it could work, Lew and Nabors explained. What would the impact be? They would design it so that half the threatened cuts would be from the Defense Department. ‘I like that,’ Reid said. ‘That’s good. It doesn’t touch Medicaid or Medicare, does it?’ It actually does touch Medicare, they replied. ‘How does it touch Medicare?’ It depends, they said. There’s versions with 2 percent cuts, and there’s versions with 4 percent cuts.” (Bob Woodward, The Price Of Politics, 2012, pp. 326)

So anybody who wants to assert that sequestration originated ANYWHERE other than the Obama White House is a documented liar.  Not that liberals care about being documented liars.

Let me explain to you how Obama will use the sequestration monster that he created in terms of a cartoon analogy: the mad scientist builds a giant indestructible killer robot that he threatens to turn loose on America unless the nation bow down before him and do whatever he wants.  Unfortunately, in the cartoons super heroes show up to defeat the giant killer robot and save the day, and all we’ve got as heroes now is a House filled with mostly shocked and awed Republicans.

Obama is threatening to use the vicious, economy murdering monster that he built (without ever actually bothering to acknowledge that HE was the one who built it, fwiw) to bring down America unless he gets the war on the rich that he so desperately wants as a true ideological Marxist.

It doesn’t matter to the American people that Obama invented sequestration.  It doesn’t matter that sequestration will result in shockingly high unemployment and recession.  It doesn’t matter that Obama is and has been saying all along he would plunge America into joblessness and serious recession unless his demands to directly attack job creators and investors are not met.  It doesn’t matter that when America needed to be saved from sequestration, Obama was swearing he would veto any bill that tried to save the nation from his monster.  All that matter is that Obama will be depicted by the mainstream media as the good guy and the hero and that the Republicans will be portrayed as the villains who somehow caused all this mess (because we’re not going to remember that Obama actually caused it).

This is a country that just boldly declared that it truly deserves to suffer.  And it is going to get the true suffering that it so boldly deserves.

If you believe that businesses and investors think that Obama will be anything other than an unmitigated disaster for America, and that in cutting their own losses they will cut the thread that our economy is hanging upon, you are insane.  There is absolutely no question that Obama-believers are morally insane, but you can add clinically “disassociated from reality” to the list.

Under Obama, America dropped from first place to seventh place after losing ground every single year of his presidency.  Not that that matters one wit to liberals, of course.

The Obama presidency will leave an America that is “worse tasting, smaller-sized and higher priced.”

We’ve already seen unparalleled “messiah-worship” of an American president in Obama: we’ve seen the man literally place his image on the flag because he thinks HE is America and the only thing that America should love.  We’ve seen the Obama campaign team refer to Obama as “Black Jesus” to kick out Christ and replace the King of kings and Lord of lords with Obama.  And yes, we’ve seen the enthusiastic determination of Democrats to replace Jesus with their REAL messiah, Obama.

Obama is Just Like Jesus, says his wife.  There’s no such thing as “us and them”.  Red and yellow, black and white, all are precious in Obama’s sight.  The sheer worship is absolutely astonishing.

The Democrat Party under Obama is the Party that kicked God out of its platform before hastily deciding to put Him back in to a loud chorus of boos from the Party that Shakes Its Fist At God (see also here).

The Democrat Party under Obama or pretty damn much everybody else is the Party of Holocaust with 55 million innocent human beings butchered in a manner that I would not want to put an insect through.  One day every single Democrat will stand before the Father while flames of wrath billow out from His Throne and give an answer for why they supported the ugliest mass murder of human life in all of history.

The Democrat Party under Obama is a Party that worships homosexuality and sodomy.  And as much as they worship sodomy and homosexuality, they hate God, they hate the Bible, they hate Judeo-Christianity, they hate Western Civilization, and they viscerally hate and despise the name of Jesus.

And America has been paying for its support of this party for the past six years.  Because when America decided that demagogic Democrats Nancy Pelosi and Harry Reid should run the House and the Senate back in 2006, unemployment was 4.4%.

And of course Democrats were bitching up a storm at that unemployment rate and swearing up and down that they could do better.  And instead they led America “forward.”

“Forward” to the Antichrist and the mark of the beast.

According to the Bible, the coming Antichrist will be worshiped as God.  Let me ask you, how does that happen?

Prior to the coming of the Antichrist, America and the rest of the world will experience a financial collapse the likes of which the world has never before seen.  The world will suddenly find itself awash in wars and famines and mass deaths.  Things will be looking grim beyond belief.

And then suddenly, as if riding in on a white horse to save the day, will come the figure that the Bible has described as “the beast.”

We are watching that collapse building and growing and metastasizing.  And when we voted for Obama, we voted for the collapse and for the beast who would come because of that collapse.

And the same people who voted for Obama are the same sorry already-doomed fools who will worship the beast and enthusiastically take his mark on their right hands or on their foreheads.  Because the mark of the beast will be nothing more than the ultimate, big government, liberal economic plan.  It will represent everything that the Democrat Party – and for that matter the Communist Party – has been building toward for the last eighty years.

It wasn’t merely Obama who will have murdered America – although Obama will ultimately be the poster boy for the murder and downfall and collapse of America.  No, this was a process began by Democrats and initiated and implemented under FDR in 1932 with Social Security.

The real “national debt” that will bankrupt America isn’t the $16 trillion that Obama is responsible for 60% of in only four misbegotten years as our Pharaoh; it’s $222 trillion, and in fact $224.75 trillion given the fact that that report of $222 trillion is a few months old now.

You need to understand that the Obama regime is “the Cloward and Piven presidency.”  And you need to understand why Democrats are so relentlessly pushing for a complete collapse of the United States of America.  As I wrote back in 2009:

The only question, given the massive debts Obama has already accumulated – deficits that literally are more than every president has accumulated from George Washington to George W. Bush, combined – is whether the Cloward-Piven strategy will yet have its chance to work.  It might already be too late.  When you look at our real national debt of more than $100 TRILLION and realize that we cannot possibly repay it, if you have any sense you should get more than a little bit concerned that our leaders simply WILL NOT control their spending.

The Democrats have an endgame: when the system collapses, the panicked people will turn to the very government that created the calamity and demand that it take care of them.  And that is precisely what big government liberals have always preached.

Notice that we went from talking about debt of “more than $100 trillion” to “more than $222 trillion” since then.  But also notice that there’s an endgame in mind: when America collapses, a desperate people who already demonstrated to all time and eternity that they are a) stupid and b) depraved will demand that the government step in to help them.  And bingo, you’ve got the communist state that Democrats have dreamed of since liberals forced LBJ to quit trying to fight communism so they could join the communists.

Democrats like Obama are hoping for a complete American collapse because they believe they can steer it in the direction they desire.  And of course, under the leadership of the Antichrist, that question will be answered with the words, “Yes we can!”

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Because Obama Radically Failing, Desperate Fed Will Soon Be Radically Bailing While Mainstream Media Is Wildly Flailing

August 24, 2012

The economy is going to hell under Obama far faster than anybody short of Cloward and Piven ever dared think.

If at first QEI doesn’t succeed and then QE2 doesn’t succeed to make up for the worst and most wicked president in American history, why try, try, try again.

Bernanke and the rest of the Federal Reserve Board keep trying to magically create enough money to keep up with Obama’s deranged socialist spending and no matter how determined they are to get the job done it just won’t go their way.  I have a feeling the Federal Reserve, in trying to deal with Obama, can relate to this scene of Cameron Diaz trying to deal with her bong:

They keep trying to add zeros to the Federal Reserve computers but they can’t seem to add the damn numbers fast enough to keep up with their psychotic president.  And they keep saying, “SERIOUSLY?!?!”

Federal Reserve leaning toward more stimulus
By Paul Handley | AFP – Wed, 22 Aug, 2012

Policy makers at the US Federal Reserve are leaning toward more stimulus action “fairly soon” unless economic data turns around, minutes from their meeting three weeks ago showed Wednesday.
 
The minutes revealed most members of the Federal Open Market Committee were concerned about slowing growth and the vulnerability of the economy to external threats, particularly economic instability in Europe.
 
“Many members judged that additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the pace of the economic recovery,” the record of the July 31-August 1 FOMC meeting said.
 
“A number of members noted that if the recent modest rate of economic growth were to persist, the economy would be less able to weather a material adverse shock without slipping back into recession,” it added.
 
Fed members discussed the merits of different approaches to sparking more drive in the economy, from signalling that they would keep their benchmark interest rate at the current all-time low longer than currently understood, to undertaking more bond purchases aimed at pulling long-term interest rates down further.
 
Some said that a new Fed program to purchase Treasury and other bonds, pressing down their yields, “might boost business and consumer confidence”, while demonstrating that the committee remains focused on lowering unemployment while keeping inflation under control.
 
In the end, the FOMC put off any new action, but the minutes show the policy makers closer to moving on a new stimulus plan at their next meeting on September 12-13.

 Yes, it’s pretty crazy to keep trying quantitative easing over and over and over again – the definition of insanity being what it is and all – but you’ve got to see things from the Fed’s perspective: all Obama can do is fail, and fail, and then fail some more while blaming absolutely everything but his failed leadership and his failed policies for said failure.  So no matter how totally nuts QE3 is at this point, that’s pretty much all we got until we get ourselves a new president who isn’t a Marxist.

But, you know, if it makes you feel any better, Obama is spending all that money to keep losing more jobs for America:

U.S. Weekly Jobless Claims Unexpectedly Rise To 372,000
8/23/2012 8:37 AM ET

(RTTNews) – First-time claims for U.S. unemployment benefits unexpectedly showed a modest increase in the week ended August 18th, according to a report released by the Labor Department on Thursday.

The report showed that initial jobless claims edged up to 372,000 from the previous week’s revised figure of 368,000. The modest increase came as a surprise to economists, who had expected jobless claims to slip to 365,000 from the 366,000 originally reported for the previous week.

Additionally, the Labor Department said the less volatile four-week moving average crept up to 368,000 from the previous week’s revised average of 364,250.

by RTT Staff Writer

Unexpected!  Drink, ye few dying-of-cirrhosis-of-the-liver-zombies who are still left alive in this the fourth year of the mainstream media trying to cover for Obama almost as desperately as the Federal Reserve is.

One of the factoids that Obama doesn’t want you to think about is the fact that, given our population growth, ten million Americans have actually entered the work force during Obama’s presidency.  And Obama is so far behind in creating jobs for them that it is beyond unreal.  Which is why our labor participation rate is getting to the point that you just want to crawl into your own toilet and flush yourself before Obama does it for you.

Compare Obama’s abject failure and his abjectly failing “solutions” to Ronald Reagan.  And then vote like you AREN’T stupid.

Just to make sure you understand what’s going on, liberals will do whatever they’ve got to do to somehow gin up the markets before the election. Democrats will do whatever it takes to create the illusion that the country isn’t going to hell prior to election day. They’ll bankrupt the country and make our children and their children ad infinitum debt slaves to the Chinese if that’s what it takes.

For the record, I predicted that we’d be at this very point nearly a year and a half ago:

In the market itself, two things are happening: one is that banks are able to borrow money at nearly a zero percent interest rate and then reinvest it in bonds for a safe and easy profit without those risky and pesky loans to small businesses. The other thing is that there are virtually zero bankruptcies of major business and financial sector entities because they can borrow money at the aforementioned artificially low interest to keep themselves alive no matter “artificial” that life is. The moment we start to see interest rates go to their natural levels, you are going to see a giant swath of reorganizations (which is a fancy word for bankruptcies). It’s coming.

I’ve also watched as QE2 (that’s Quantitative Easing, the Obama Fed plan to manipulate interest rates by creating bogus money based on the government essentially borrowing from itself) has fed this big player stock market gluttony with artificial money creating artificially low interest rates. The last time quantitative easing ended, the market lost about 16% of its total value in about two weeks. QE2 is scheduled to end in June. You do the predictive math about what’s going to happen in June/July.

I am reminded of a rather chilling 7 minute video about a fictional scenario which is starting to look more and more like a prophecy:

The plot of the highly realistic video is that Obama’s announcment of QE4 is met with the world market finally realizing that Obama is a clueless idiot. And it proceeds to detail the unravelling of the entire financial system.

We are almost certainly going to see QE3. The only way we WON’T see QE3 is if the “experts” rename what will be virtually exactly the same thing. The liberal/progressive/socialist powers that be simply don’t have any other plan. And whether it’s QE4 or QE5, at some point the world markets will come to the same conclusion that they arrive at in the fictional video above.

Is America completely screwed in this God damn America presidency?

To answer Cameron Diaz’s thrice asked question, yes, seriously.

‘Unexpected’ (Drink!!!): Jobless Claims Rise Sharply During Economic Wreckovery

January 13, 2012

It is just a fact that the mainstream media treat the exact same economic data dramatically differently when hated Republicans are in the White House versus their beloved Democrats:

I wrote an article on that back in 2009.  It is amazing that with the same economic numbers, the media can demonize the side they ideologically hate and excuse the side they ideologically worship.

A couple of cartoons to depict the overwhelming media bias we constantly see from the propaganda wing of the Democrat Party:

And:

And one of the biggest keys to this unrelenting media bias is revealed in the use of the media’s favorite adjective (“unexpected”) and/or their favorite adverb (“unexpectedly”) in excusing Obama for his economic mess.

Forexpros – The number of people who filed for unemployment assistance in the U.S. last week rose unexpectedly, hitting the highest level since late November, official data showed on Thursday. [44] The number of people filing first-time claims for unemployment insurance rose by 24,000 last week from the week before, the Employment and Training Administration reports. There were 399,000 such claims. [33]

“The retail sales and unemployment claims numbers remind us that the path to full recovery will be filled with lots of potholes,” said Joel Naroff, of Naroff Economic Advisors. [15] One-tenth of one percent increase in retail sales! “The gain was enough to push sales to a record level for 2011. It was the largest annual increase in more than a decade.” That’s not good news. (laughing) It’s 0.1%. Now, I think to put this in perspective, “The week’s unemployment applications with seasonal adjustments is disappointing. [23]

Retail sales climbed at the weakest pace in seven months in December and first-time claims for jobless benefits moved higher last week, signs the economic recovery remains shaky despite a pick-up in growth. [7] The number of people continuing to receive jobless benefits rose by 19,000 in the week ended Dec. 31 to 3.63 million. [14] Overall, 3,628,000 people were getting jobless benefits during the week ended Dec. 31, an increase of 19,000 from the preceding week, the department said. [43]

About 4.1 million unemployed Americans collect jobless benefits every week, down from about 4.8 million a year ago as the countrys sluggish economy, the worlds largest, has regained some strength. [8] Last year the economy added about 1.6 million jobs, a 50% increase from 2009. According to a survey by the AP, economists are expecting the economy to add 1.9 million jobs this year. [1] The economy gained 1.6 million jobs last year, up from 940,000 in 2010. Economists forecast roughly 1.9 million jobs will be added this year, according to a survey by The Associated Press. [38]

As the Los Angeles Times’ Don Lee reported last week, the economy still has 6 million fewer jobs than in December 2007, when the recession started and the jobless rate was 5%. At least one retailer is hiring now. [30] Even with the gains, much needs to be done toward recovering the 8.75 million jobs lost as a result of the recession that ended in June 2009. The economy “expanded at a modest to moderate pace” from late November through the end of December, while most industries saw “limited permanent hiring,” the Federal Reserve said in its Beige Book anecdotal business survey released yesterday. [14]

Despite looking a little better in previous weeks, the jobs market has a long road to recovery. The recession in 2008 wiped out 8.7 million jobs and there are around 13 million unemployed people in the U.S. That doesn’t even count the millions who gave up looking for a job. [1] I’d pass laws that say if you want to sell your goods in the U.S. then X% of your manufacturing cost of goods sold must be incurred in the U.S. This is what Bush I did for the Japanese car makers, and that worked pretty well for the U.S. I would also remove 95% of the tax loopholes (corporate and individual) and lower the overall tax rate (revenue neutral is my goal). Telling companies to be good people and manufacture in the U.S. even though their competitors use cheaper foreign labor isn’t a realistic approach because the U.S. companies would be at a price disadvantage and wind up going out of business (and the remaining U.S. workers will lose their jobs). For proof, look at WalMart – they are successful because most consumers are more worried about price than where a particular product is manufactured. [32]

Despite the rise, jobless claims have remained below 400,000, a level historically associated with an improving labor market, in nine of the past ten weeks. [21] More Americans filed initial jobless claims last week than most analysts expected, coming in at the highest level since early November. [20]

Continuing jobless claims in the week ended December 31 rose to 3.628 million, confounding expectations for a decline to 3.550 million. [21] The advance number of jobless claims jumped to 399 thousand for the first week ended January 7, 2012, the largest in six weeks, compared to 375 thousand in the earlier week thus reversing the recent fall in jobless claims. [29]

Conservatives mock this as the following comments from FreeRepublic document:

What?

All the temporary, holiday-season jobs actually came to an end after the holiday-season was over?

Who could POSSIBLY have predicted that?!

And:

Wow! The smartest guy in the world occupying the White House and Geithner never figured on this. Temporaries hired for Christmas seasonal shopping are now being laid off. What a shocker.

I’m waiting to hear the new numbers on the MSM. They sure were quick at 8.5% last week

And:

LMAO, how many times do these fools think we are going to believe that claims and the unemployment rate have gone down? And do they really think we believe that a ton of jobs were created in Dec? Even a halfwit can figure out most of the jobs in Dec are seasonal and come January the job numbers will be “adjusted” “unexpectedly”. Anyone who votes for HUSSEIN this time around, really and truly has to be stupid

And:

but but but – the unemployment rate went down???? We popped the champagne corks just last week!!!!!

Everybody, quick…stop celebrating /s/

And:

Some Pundits were still talking up the fact that it is still under 400,000. Well guess what? Next week, that 399,000 will be revised UPWARD over 400,000.

As you can see by my article here, I was mocking this “unexpected increase of jobless claims” crap a year ago almost to the day.

It doesn’t take a rocket scientist to figure this out – which just makes the mainstream media and their “analysts” all the more blameworthy.  There is something called “seasonal holiday hiring” that any fool ought to know all about.  And the simple fact of the matter is that while they are fools, they’re not stupid: had this decrease in the unemployment rate occurred during a Reagan or Bush presidency, the media would have jumped all over the “artificial” decrease being due to a surge of temporary workers.  But because it happened for their messiah, they uncorked their champagne to celebrate Obama’s magnificent leadership in bringing down the unemployment rate.

The unrelenting bias is as despicable as it is dishonest.  The media and the liberals they serve do absolutely everything they can to talk down the economy – and create economic pain – during Republican administrations by covering everything with an unfair negative slant; and then they do everything they can to talk UP the economy during Democrat administrations by covering everything with an equally unfair positive slant.

I have recently documented how bad things really are.  The major reason that the unemployment rate has dipped is because discouraged workers and people who finally exhaust their benefits are simply not counted.  When you ignore the propaganda math and look at the facts, you find that the labor force – as measured by the labor participation rate – is far smaller than it was when Bush was president.  And if you measured the unemployment rate with the same labor participation rate that George Bush had, unemployment would be 11.4 percent.

Newsweek is a hard-core liberal piece of trash, which makes this admission all the more stunning:

Evan Thomas of Newsweek was one of the few journalists who admitted that the mainstream media wanted John Kerry to win. He said media bias was worth as many as 20 million votes for Kerry. But that doesn’t mean that Newsweek is free of liberal bias. We picked up a copy of the January 10 issue and were astounded by the examples of bias contained therein.

We live in an immoral society that is on its way to a hard, hard fall.  And the degeneration and wickedness that today characterizes America is largely due to a media-fabricated culture.

Let me quote the same Evan Thomas on Obama:

Evan THOMAS: “…in a way Obama’s standing above the country, above – above the world, he’s sort of God. He’s-”

Chris MATTHEWS: “Yeah.”

Yeah, indeed, Mr. “I felt this thrill going up my leg.”  Yeah, indeed.

I keep preaching it: the beast is coming.  And when he comes, he will be a big government leader who will be celebrated and worshiped on an even grander scale than our media celebrated and worshiped Obama.  The coming Antichrist will literally be worshiped as “God” (see Revelation 13:8) and the mainstream media will lead the way toward establishing that demonic worship.  And Democrats will adoringly vote for him – and bring upon America the full fury of the wrath of God that we are already beginning to see in God damn America.

And On The Seventh Vacation, Obama Rested From All His Failures

August 19, 2010

From the King Hussein Version, Genesis of America’s Demise, chapter 2:

“Thus the economy and American foreign policy were finished, and all the host of them.  And on the seventh vacation The One temporarily paused his destruction which he had made; and he rested on the seventh day from all his destruction which he had made.”

Okay, it’s not actually Obama’s seventh vacation this year, but it’s close enough.  For those who are keeping scorecards at home, this marks the Obamas’ sixth vacation so far this year.

Which, as bad as it is, still doesn’t take into account all the glitzy Let-them-eat-cake parties Obama has held during his economy-in-the-toilet presidency.

Which makes the following earlier Obama promise rather incredible for all of its sheer chutzpah:

Nov 23, 2009
Obama ‘will not rest’ until there are more jobs

President Obama rebuffed reporters’ attempts to ask about Afghanistan today, focusing instead on what he described as his administration’s biggest challenge: Jobs.

“I will not rest until businesses are investing again and businesses are hiring again and people have work again,” Obama said after meeting with his Cabinet.

That’s an interesting headline compared to this one from today as Obama stretches his scrawny body at Martha’s Vineyard:

Jobless claims rise to highest level in 9 months
By CHRISTOPHER S. RUGABER, AP Economics Writer Christopher S. Rugaber, Ap Economics Writer   – Thu Aug 19, 12:28 pm ET

WASHINGTON – Employers appear to be laying off workers again as the economic recovery weakens. The number of people applying for unemployment benefits reached the half-million mark last week for the first time since November.

It was the third straight week that first-time jobless claims rose. The upward trend suggests the private sector may report a net loss of jobs in August for the first time this year.

Initial claims rose by 12,000 last week to 500,000, the Labor Department said Thursday.

Construction firms are letting go of more workers as the housing sector slumps and federal stimulus spending on public works projects winds down. State and local governments are also cutting jobs to close large budget gaps.

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

Obama has destroyed 3 million jobs since his $3.27 trillion stimulus boondoggle was passed.  And even the Obama administration confirms that those jobs have been permanently destroyed and won’t be coming back.

Obama might argue that he’s really, really, really tired for not resting a single night the last two years while he has utterly failed to live up to any of his incredibly cynical promises.  Which paradoxically means he needs all those vacations to rest from all of his not resting.

Given Imam Obama’s pretzel-twisting on the Ground Zero mosque (see also here), that would actually sound logical to him.

Or maybe Obama is striving for solidarity with the Forgotten Man.  Since the American people aren’t working, Obama won’t work, either.

For my part, it’s just yet another of myriad evidences as to how totally full of crap our failure-in-chief truly is.

Financial Reform ALREADY Injuring Economy

July 22, 2010

This is something else.

From Business Insider:

Financial Reform Meets First Huge Unintended Consequence As Ford Halts Bond Offering
Joe Weisenthal | Jul. 22, 2010, 8:57 AM

Whenever you get new laws and “reform,” unintended consequences are sure to follow.

Usually they take awhile.

Not so with Dodd-Frank.

WSJ reports that Ford has already yanked a bond deal, because the ratings agencies, fearing legal liability, won’t let the automaker puts their ratings in the prospectus, making a sale impossible.

So did Dodd-Frank just kill the bond market? Well, probably not.. Regulators will likely find some way around this impasse, but it’s still amusing to see the bill INSTANTLY slow down the gears of capitalism (or at least capital raising) as its fiercest critics might have suggested.

Click here to see 15 signs the economy is rolling over

Here’s the Wall Street Journal piece cited above:

JULY 21, 2010
Ford Scuttles Debt Deal as Overhaul Chills Market
BY ANUSHA SHRIVASTAVA

Ford Motor Co.’s financing arm pulled plans to issue new debt, the first casualty of a bond market thrown into turmoil by the financial overhaul signed into law Wednesday.

Market participants said the auto maker pulled a recent deal, backed by packages of auto loans, because it was unable to use credit ratings in its offering documents, a legal requirement for such sales. The company declined to comment.

The nation’s dominant ratings firms have in recent days refused to allow their ratings to be used in bond registration statements. The firms, including Moody’s Investors Service, Standard & Poor’s and Fitch …

Oh, well. Nobody needs those stupid jobs that Ford would have financed through an expansion, anyway.  And who really cares if numerous deals that would have happened don’t now because of “finance reform”?  Surely we’re all fine with scraping our own feces to heat our homes as in the other socialist Utopia in North Korea?  Who isn’t willing to personally suffer to punish those greedy businesses?

Analyst David Rosenberg, in agreement with other market experts such as Bob Farrell, said on CNBC that the Dow could challenge the terrifying lows of March 2009 and drop below 5,000.

Well, surely the Chairman of the Federal Reserve would bring confidence to the market.

Not so much:

Bernanke says economic outlook is ‘unusually uncertain’
In congressional testimony, the Fed chairman predicts that unemployment will remain stubbornly high for years. His comments send stocks down sharply.

By Don Lee and Walter Hamilton, Los Angeles Times
July 22, 2010

Reporting from Washington and Los Angeles —

Saying the economic outlook was “unusually uncertain,” Federal Reserve Chairman Ben S. Bernanke predicted that unemployment was likely to remain stubbornly high for several years, straining families and endangering the nation’s economic stability and competitiveness.

“Long-term unemployment not only imposes exceptional near-term hardships on workers and their families; it also erodes skills and may have long-lasting effects on workers’ employment and earnings prospects,” he said Wednesday in his semiannual testimony to Congress.

“This is the worst labor market, the worst episode, since the Great Depression,” Bernanke said of long-term unemployment. “Not only for the sake of the unemployed and for the short-term strength of the economy but also for a long-term viability in international competitiveness, I think we need to be very seriously concerned.”

We look at the financial reform imposed by the Democrats and realize that it will cost banks billions and make them even more reluctant to lend than they already are even as they pass the increased costs to their customers in the form of a tax from Obama to you.

Business leaders are flat-out stating that Obama’s economic policies are stifling growth.

And I go back to the prediction of chief executive officers made prior to the worst decision America ever made:

In October 2008 I wrote an article which quoted Chief Executive Magazine as follows:

In expressing their rejection of Senator Obama, some CEOs who responded to the survey went as far as to say that “some of his programs would bankrupt the country within three years, if implemented.” In fact, the poll highlights that Obama’s tax policies, which scored the lowest grade in the poll, are particularly unpopular among CEOs.

Barry Hussein is preaching about his “summer of economic recovery.”  But he’s a liar without shame or principle.

On the flip side of the “summer of economic recovery,” there’s actual reality.

From CNN Money, July 22, 2010:

Jobless claims jump in latest week
By Blake Ellis, staff reporterJuly 22, 2010: 9:28 AM ET

NEW YORK (CNNMoney.com) — The number of Americans filing for initial unemployment insurance climbed last week, the government said Thursday.

There were 464,000 initial jobless claims filed in the week ended July 17, up 37,000 from a revised 427,000 the previous week, the Labor Department said.

The number of claims was much higher than expected. A consensus estimate of economists surveyed by Briefing.com expected new claims to rise to 445,000.

“It’s very disappointing to have this leading indicator of economic conditions jump higher,” said John Lonski, chief economist at Moody’s Economy.com. “This is the latest reminder of a weak labor market, and the jump preserves worries regarding the adequacy of economic growth.”

The Democrats passed a 2,300 page bill that is essentially mystery meat, which creates more than 20 new agencies that will write hundreds of as-yet unwritten regulations.

And even the author of the bill doesn’t have a clue how the massive Rube Goldberg Machine boondoggle will work:

“It’s a great moment. I’m proud to have been here,” said a teary-eyed Sen. Christopher J. Dodd (D-Conn.), who as chairman of the Senate Banking Committee led the effort in the Senate. “No one will know until this is actually in place how it works. But we believe we’ve done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done.”

Never let a crisis go to waste.

If you are a Democrat, I suggest you burn your testicles off with a blowtorch.  Because that would be change.  And of course change is good.  And who really cares about the irrelevant details of “change,” anyway?

Analyst Meredith Whitney, famous for being one of the very, very few who predicted the economic disaster in 2008, has made another prediction that no one listened to:

“Financial Reform Will Cause ‘Tragic’ Unemployment Levels For An Extended Period Of Time

So, as the economy descends into the hell of unintended consequences, please comfort yourselves with my assuring you that I told you so.

Headed In The Right Direction? Mortgage Delinquencies, Unemployment UP; Market, Leading Economic Indicators DOWN

May 21, 2010

Nothing was more responsible for the economic implosion of 2008 than the mortgage industry.  So it is somewhat illuminating that – to go along with the European Union government spending crises and yesterday’s corresponding bloodbath in the Dow (down 376 points) which officially put Wall Street into “correction territory” – we now see that, if anything, our mortgage woes under Obama are actually worse than ever.

Mortgage delinquencies hit 10%
By Les Christie, staff writerMay 19, 2010: 1:20 PM ET

NEW YORK (CNNMoney.com) — A dubious distinction was reached during the first three months of 2010: More than 10% of all mortgage borrowers are now behind on their payments.

The delinquency rate hit a record of 10.06% in the first quarter, according to the Mortgage Bankers Association. The seasonally adjusted rate accounts for all mortgages on properties that have up to four units and that are at least one payment late.

The rate has been inching steadily toward this record. In the previous quarter, 9.47% of borrowers were behind on payments; and one year ago, 9.12% were late. […]

Nearly all varieties of loans suffered increased delinquencies compared with 12 months earlierPrime fixed-rate loans hit 6.17%; prime adjustable-rate mortgages (ARMs) tipped 13.52%. Subprime fixed-rates jumped to 25.69%; and subprime ARMs are a whopping 29.09%.

So, to put it bluntly, a full year and a half later, Barry Hussein hasn’t done anything to fix the biggest component that created the economic collapse of 2008.  Not a damn thing.

The problem is actually worse than ever.

A significant factor contributing to this crisis is unemployment.  But, again, Obama hasn’t done a damn thing (all failed predictions and promises aside) to create jobs:

Jobless claims rise by largest amount in 3 months
By MARTIN CRUTSINGER, AP Economics Writer Martin Crutsinger, Ap Economics Writer   – Thu May 20, 4:29 pm ET

WASHINGTON – The number of people filing new claims for unemployment benefits unexpectedly rose last week by the largest amount in three months. The surge is evidence of how volatile the job market remains, even as the economy grows.

Applications for unemployment benefits rose to 471,000 last week, up by 25,000 from the previous week, the Labor Department said Thursday.  It was the first increase in five weeks and the biggest jump since a gain of 40,000 in February.

The total was the highest since new claims reached 480,000 on April 10. It also pushed the average for the last four weeks to 453,500.

“Although no one expects this volatile series to go in one direction every single week, this is clearly a disappointment,” said Jennifer Lee, senior economist at BMO Capital Markets.

Stocks slid as investors’ already bleak view of the world economy worsened with another drop in the euro and the disappointing U.S. employment news. The Dow Jones industrial average fell more than 250 points in early afternoon trading.

“Unexpectedly.”  The propagandists adverb of choice.

After a newspaper or news station has used the word a thousand times, you’d think they’d grow tired of making excuses for the numerous failures of the White House.  But, noooooo.  They never weary of describing bad news as “unexpected” as a device to imply that it was really nobody’s fault.

Now, mind you, they liked to use the word “unexpected” a lot when Bush was president, too.  But then it was to reduce the credit that Bush should have received for successful policies.  Take the result of his tax cut, which boosted revenue.  The New York Times wrote:

“For the first time since President Bush took office, an unexpected leap in tax revenue is about to shrink the federal budget deficit this year, by nearly $100 billion.

On Wednesday, White House officials plan to announce that the deficit for the 2005 fiscal year, which ends in September, will be far smaller than the $427 billion they estimated in February.”

When a Democrat is president, bad news is always “unexpected” to the mainstream media.  When a Republican is president, it’s always GOOD news that’s “unexpected.”

What is the Obama message that continually keeps being falsified by “unexpected” actual results?

“We can say beyond a shadow of a doubt today we are headed in the right direction,” Mr. Obama told an audience of about 230 workers and local business leaders. “All those tough steps we took, they’re working, despite all the naysayers who were predicting failure a year ago.” ….

“Last month we had the strongest job growth we had seen in year, and by the way, almost all of it was in the private sector, and a bunch of it was manufacturing,” the president said, referring to last week’s report that found that the economy added 290,000 jobs in April. “So this month was better than last month. Next month is going to be stronger than this month. And next year is going to be better than this year.”

Only it’s a load of crap from a pathological liar.

The AP article cited above continues with this paragraph:

In a separate report, a private research group said its index of leading economic indicators dipped slightly in April. It was the first decline in more than a year.  Six of the 10 components on the Conference Board’s index deteriorated. Among them: U.S. residents filed fewer applications to build homes; vendors were slower in delivering supplies to companies; the unemployed filed more claims for jobless aid; and consumers’ confidence dropped.

Ah, but I have absolutely no doubt whatsoever that the drop was “unexpected.”

May 20 (Bloomberg) — The index of U.S. leading economic indicators unexpectedly declined in April, a sign the economic expansion may slow in the second half of the year.

NEW YORK (Associated Press) — A private research group’s index of leading economic indicators unexpectedly slipped in April, its first drop in more than a year and a sign that growth could slow this summer.

I knew it!!!  You clearly can’t blame Obama for any of that.  I mean, duh, who could possibly have “expected” it???

Why don’t we just keep believing more of Obama’s constant stream of lies, instead???

Let’s see.  Month of May.  Major market correction, with the Dow down 900 points this month.  Check.  Mortgage delinquencies up.  Check. Unemployment up.  Check.  Leading economic indicators down.  Check.

Famed market analyst Meredith Whitney says that Obama’s moronic financial “reform” that passed the Senate yesterday will succeed in creating tragic levels of unemployment for extended periods of time.

Just remember: Barack Obama is telling you the truth.  It’s reality that’s lying to you.

Everything is hunky dory.  And anything to the contrary has to be “unexpected.”

On The Most Pathetic ‘Economic Recovery’ In History

April 19, 2010

Barack Obama began his presidency by fundamentally misunderstanding the economy.  There is absolutely no evidence whatsoever that he’s understood it one iota better since.

Let’s start where Obama started, with his massive stimulus.  You know, the stimulus that everybody on the left said would cost “only” $787 billion.  It didn’t take long before it suddenly cost “only” $862 billion.  And by the time it’s all said and done, the real total cost of the stimulus which will actually be a $3.27 trillion porker before all is said an done.

Obama sold his porkulus boondoggle as something that would solve the unemployment problem.  It didn’t.  In fact, it actually CONTRIBUTED to high unemployment, when one looks at the evidence.

The following chart – which was created by the Obama administration to sell the stimulus package – proves that Obama couldn’t have got it more wrong:

In other words, by Obama’s very own measure, unemployment is HIGHER than it would have been if he’d done NOTHING.

Even the reliably liberal Time Magazine realized what a failure Obama’s stimulus was, with an article entitled, “Obama’s Stimulus Plan: Failing By It’s Own Measure.”

Democrat Senator Evan Bayh summed up Obama’s failed economic policies, saying:

“[I]f I could create one job in the private sector by helping to grow a business, that would be one more than Congress has created in the last six months.”

According to a recent New York Times/CBS poll, a whopping 94% of the American people agree with Bayh. Only 6% of Americans believe Obama’s massive porkulus has created jobs a full year after going into effect.

Only SIX PERCENT of Americans believe that Obama’s porkulus has created any jobs at all.  That means more Americans believe that space aliens have anally probed them than believe in the stimulus.  It also means that 94% think Obama and his entire administration and the entire Democrat congressional leadership are completely full of crap.

With all due respect to Obama’s spin and the mainstream media’s propaganda that things just keep getting better and better, we keep getting stories like this:

Jobless claims in another surprise surge
By Chavon Sutton, staff reporterApril 15, 2010: 9:35 AM ET

NEW YORK (CNNMoney.com) — The number of Americans filing for unemployment insurance for the first time jumped for the second week in a row, according to government data released Thursday.

There were 484,000 initial jobless claims filed in the week ended April 10, up 24,000 from an unrevised 460,000 the previous week, according to the Labor Department’s weekly report.

Well, at least they didn’t say “unexpected.”  Like pork to chicken as “the other white meat,” we can call the word “surprise” the mainstream media’s “other favorite adverb” to describe Obama’s unemployment rate.

A Washington Post writer presents the spirit of the constant stream of media excuses in the manner of a master of understatement:

Economists suggest the spike in claims could be related to the Easter holiday. Each week, it seems, there’s some sort of anomaly that affects the new jobless claims — the big February snows, the March snapback from the big February snows, the Easter holiday — so it’s hard to get a good handle on the real jobless picture in the U.S.

When excuses fail, the left resorts to demagoguery and fearmongering.

We might see a recovery.  Count how many times the U.S. had a recession we never got out of.  But even by Obama’s own analysis, any recovery will be a “jobless recovery,” with joblessness remaining shockingly high throughout his presidency.  And the grim scenario of a “W-shaped” recession looms larger and larger.

All that said, an article by Mike’s America at Flopping Aces asks the right question given all the propaganda and spin:

Does This look like an Economic Recovery to You?
by: Mike’s America

A failed $trillion stimulus and few, if any new jobs is Obama’s economic legacy!

Did you see these headlines last week?

UPI: Calif. unemployment hits record high
AP: Florida unemployment hits record high

California’s unemployment hit 12.6% and Florida’s is 12.3%.

And where was Obama when this dire news was about to hit? He was in Florida telling spaceworkers he was canceling much of the manned space program which means a loss of thousands more of the most highly skilled jobs in both Florida and California’s aerospace industries, not to mention Texas.

The past nine months Obama has talked about little else other than health care. Meanwhile, millions of Americans remain out of work. If a Republican President were in the White House we’d read daily stories about the toll of human suffering wrought by the President’s economic policy. But with Obama in the White House the “news” media hardly notices unemployment or discusses the lack of any effective jobs policy coming from Democrats.

From House Ways and Means Republicans:

48 of 50 States Have Lost Jobs Since Democrats’ Stimulus
Friday, April 16, 2010

While the President recently said the economy had “turned a corner,” it’s hard to tell that from looking at the job situation across the U.S. According to the latest data from the U.S. Department of Labor, and the chart below, through March 2010 a total of 48 out of 50 States had seen net job losses since the President signed the Democrats’ stimulus plan into law in February 2009. The data show that only Alaska, North Dakota and the District of Columbia have seen net job creation since then. And (other than the perhaps predictable exception of D.C.) those states that have seen some increases in jobs are still well short of the growth the White House originally forecast. Additionally, over 3 million jobs have been eliminated since the Democrats’ stimulus, unemployment remains stuck at 9.7 percent instead of 7.4 percent and falling as Democrats predicted, and a record 16 million Americans are out of work.

To see how the Democrats’ stimulus has failed your state, see the table below.

State Administration Claims of Change in Jobs Through December 2010 Actual Change in Jobs Through March 2010
Alabama +52,000 -61,200
Alaska +8,000 +3,800
Arizona +70,000 -100,300
Arkansas +31,000 -17,800
California +396,000 -558,900
Colorado +59,000 -86,700
Connecticut +41,000 -41,100
Delaware +11,000 -11,500
District of Columbia +12,000 +10,000
Florida +206,000 -203,700
Georgia +106,000 -139,400
Hawaii +15,000 -12,000
Idaho +17,000 -18,200
Illinois +148,000 -187,900
Indiana +75,000 -59,700
Iowa +37,000 -25,200
Kansas +33,000 -47,600
Kentucky +48,000 -29,500
Louisiana +50,000 -39,300
Maine +15,000 -11,200
Maryland +66,000 -31,400
Massachusetts +79,000 -69,800
Michigan +109,000 -121,200
Minnesota +66,000 -62,300
Mississippi +30,000 -26,000
Missouri +69,000 -65,600
Montana +11,000 -6,200
Nebraska +23,000 -17,000
Nevada +34,000 -68,800
New Hampshire +16,000 -3,700
New Jersey +100,000 -85,300
New Mexico +22,000 -22,400
New York +215,000 -143,300
North Carolina +105,000 -91,800
North Dakota +8,000 +900
Ohio +133,000 -178,900
Oklahoma +40,000 -50,700
Oregon +44,000 -53,200
Pennsylvania +143,000 -117,700
Rhode Island +12,000 -14,100
South Carolina +50,000 -25,600
South Dakota +10,000 -6,600
Tennessee +70,000 -73,100
Texas +269,000 -211,000
Utah +32,000 -30,500
Vermont +8,000 -5,300
Virginia +93,000 -75,000
Washington +75,000 -84,000
West Virginia +20,000 -16,600
Wisconsin +70,000 -94,100
Wyoming +8,000 -11,800

California’s unemployment rate is now the highest it has ever been since 1940 and the Great Depression.

The California jobless rate of 12.6 percent for March was slightly higher than the 12.5 percent level reached in February.

Still, that was the worst California unemployment level in nearly 70 years, stretching back to the Great Depression. December 1940 marked the last time California staggered to the dismal milestone of a 12.6 percent jobless rate.

It was 9.3% when Obama took office.  Which is to say, unemployment has increased by 35.5% since Obama began to “fundamentally transform” things.

California is a huge chunk of the U.S. economy.  It is the eighth largest economy on the planet all by itself.  And it represents 13% of the entire U.S. economy.  In every single other recession the U.S. has ever had, it was California that led the country out.  This time, under Obama, it is California which is lagging the farthest behind, with only two states having a higher level of joblessness.

Right now, California is poised to go the way of Greece – and Greece fell into a black hole of total economic collapse.

And Florida – the fourth most populous state with the fourth largest economy in the nation – isn’t in much better shape.  It’s unemployment rate under Obama’s “Wonder Boy” management is the highest it has ever been in history.

MIAMIFlorida’s unemployment rate reached an all-time high for the second straight month at 12.3 percent in March.

The figures released Friday by the Agency for Workforce Innovation show a marginal increase from February’s rate at 12.2 percent.

If these two giant states’ economies go boom – and it is very possible indeed that they WILL go boom – then the U.S. economy is doomed.  They are too big to fail, and too big to save.  The Louisiana Purchase?  The Cornhusker kickback?  You aint seen NOTHING yet!  Get ready for the Mother of All Bailouts, suckers.

All this to say, it’s time to ponder the previously content-free Obama campaign slogan “Hope and Change.”  “Change” would be a return to the Great Depression by the same policies that the president pursued during the LAST Great Depression.  And “Hope” is hoping that history doesn’t repeat itself.