An article entitled "Keep Your Hands Inside the Coaster, We Are At The Top Of The Second Hill"
It is becoming more and more evident, to the astute observer of realistic economics, that the second dip in the "W" global recession is coming up quickly. This is of course, identical to what took place between the 1929 collapse and the 1931 final landing. The world economy fell hard, bounced high and than fell into a deep black hole, that it took it thirty years to climb out of. This time will be worse, at least for the Anglos and more specifically the Americans.
The signs are everywhere: massive government stimulus (read money printing) whose only obvious effects have been on the stock markets around the world (again, just like in 1930), continued increases in global unemployment and thus a collapse in global goods demand, instability and a free fall in the shipping indexes. That is correct, it is not just the Baltic Dry Index, which is once again in a free fall, now that the Chinese have stopped hording iron ore, but also the various other indexes, including Chinese ones.
That phony recovery: I just flew from BWI airport to a sunny, warm destination south of South Carolina. The good news is that my American-run airline provided a flight that both took-off AND landed with me in one piece.
The bad news is the visible collapse in airport business. For you folks lucky enough to not live near the District of Corruption, "BWI" stands for "Baltimore-Washington International Airport" and recently added "Thurgood Marshall" to its name. Ah, Thurgood -- that scowling, White-hating race-baiter, with his impeccable knowledge of the "penumbras" and "emanations" of the United States Constitution.
But more importantly - Business at BWI is damn-near at depression levels. The great tell-tale was my favorite parking lot: "Park N Fly." For many years I had to struggle to find a parking spot at Park N Fly. Especially during the years 1988-2000, one had to arrive before 0500 hrs on any weekday to ensure finding a spot at Park N Fly. The alternative was a spot in the state-run BWI parking lots, with MUCH slower and less reliable bus service to carry passengers from the lot to the terminal. Yesterday at 0600 hrs I drove into Park N Fly to find literally HUNDREDS of open spots, totally unheard-of in prosperous months. Also gone were the long lines of folks to pile into crowded Park N Fly yellow-clad mini-buses. The bus drivers even commented how they had NEVER seen the lot so vacant, going back to its opening in 1982.
The airport itself had another grim telltale: The Southwest Airlines terminal had roped off about ten of its "Gates" due to lack of use. I estimate that about 30% of the entire BWI airport is in a state of non-use. It sure points to a wrong prognostication of future economic activity when the BWI engineering committee performed a hysterical expansion of the airport ca. 1998. All manner of new terminals, parking garages, railroad connections, and loading docks were constructed, with great pomp, speed, and taxpayer contribution. Now it all sits idle. BWI could easily operate with its previous 1992 set-up.
Ah, but prosperity is just around the corner! Comrade Obama will see to that! Just pick up an Atlanta Journal-Constitution, a Washington Post, or a U.S. News and World Report. Happy Days are here again!Edited by: yuridmi
<h2>Half Of US Kids Will Get Food Stamps</h2>
Posted By Staff
<div style="color: rgb(102, 0, 0);">
Date: November 2nd, 2009</div>
Category: Nutty News</div>
Illinois - Nearly half of all U.S. children and 90 percent of black
youngsters will be on food stamps at some point during childhood, and
fallout from the current recession could push those numbers even
higher. The estimate comes from an analysis of 30 years of national
data, and it bolsters other recent evidence on the pervasiveness of
youngsters at economic risk. It suggests that almost everyone knows a
family who has received food stamps, or will in the future. </span>More…
Edited by: Nelson3
An article entitled "Official US Unemployment over 10 Percent"
Most American know that these government numbers are -at best- flawed and -at worst- fabricated. Anyone who uses up his last unemployment check without finding a job, falls off the official government tally of the unemployed. Considering the job market has been a disaster for the last two years with millions of job losses, it’s probably a fair assessment that 80 to 99.9 percent of the people who have lost their jobs are still unemployed. The real percentage of unemployed Americans is almost certainly in the 15 to 20 percent range.
To add insult to injury, the stock market shot up about 200 points on the day the official unemployment rate broke through ten percent. There’s a theory among investors that "laying off people is good for business". This has been around since at least the horrible Bush Senior recession in the early ’90s.
There is an article in The Wall Street Journal today detailing the rise in food stamp use and free school lunches.
According to the story, the Department of Agriculture uses "roughly 70%" of its budget forthe food stamp and free lunch programs.
The floundering U.S. economy won't help matters,but I have to wonder about misuse of funds in the system, as well as fraudulent applications from many people.
I know many people have it tough these days, but the numbers listed in the article arehard to accept at face value.
An article entitled "All Signs Point to Depression"
When these smaller banks fail under the weight of all their subprime loans to blacks and illegal aliens, the Feds pay one of the larger banks to take over the smaller bank. In order to persuade these banks to buy the bad paper, the Fed usually bribes them with a hefty chunk of TARP or other bailout money that’s supposed to be used to "stimulate" the economy.
Not only are we NOT in a recovery, we are in the early stages of a Depression. The worst possible thing for America would be if the president were a big spending Socialist, who did nothing about the illegal alien problem. California is on the verge of bankruptcy thanks to illegal aliens, and the rest of America will be following in California’s footsteps. We’ve been lucky that the economy hasn’t started to more seriously collapse, but all these months have been wasted because we have the wrong man as president, and we’ll be paying for that mistake every day until he’s removed from office.
As for the food stamps fraud here is a piece entitled "A Pennsylvania Reader Says Food Stamp Fraud Could Include Cash Subsidies For Immigrants"
While I fully agree that it is an outrage that food stamp recipients abuse their taxpayer- funded privileges by purchasing junk food with our hard earned money, the Access card issued in Pennsylvania allows its holders to get cash back at the checkout line.
Compare it to your debit card. After your transaction is complete, your cashier asks you if you would like cash back. The same applies with the Access card. Assuming the client has a sufficient balance in his account, he can withdraw up to a $50 maximum in cash per transaction.
Naturally, the customer can use the $50 for whatever purpose he chooses—alcohol, drugs or maybe even to buy a fake drivers license.
Tyler reports that while she was once "shocked" by the level of welfare fraud, she now considers it all to be in a day’s work.
An article entitled "Recession Is Over; Now it’s a Depression"
The out-sourcing problem is a national scandal. The United States should have started seriously developing industrial robots in the 1970s. As robots become more and more efficient, they would eventually be able to compete with any labor force on the planet —even twenty cent per hour labor in China. American politicians used to do long term planning, but today we have Nancy Pelosi and her Botox injections and Obama with his teleprompter.
There probably will be another financial meltdown in the near future as Gerald Celente and other pundits are predicting. It’s quickly becoming apparent that Christmas sales will be a disaster. Once that realization is made, all the spin in the world won’t save Obama. It will be the Second Great Depression, and it will be here a very long time.
An article entitled "The Coming Christmas Crash"
What’s important to understand here is that this is December, the height of the holiday season, and hiring always, let me repeat that, always picks up in December due to temporary seasonal work in retail, shipping and packing, various sales jobs, Christmas trees and other Christmas-related areas such as mall Santas and elves. There are an incredible number of those around each Christmas by the way, usually, tens of thousands, enough to be an employment category all on their own.
This year the sales have been so bad, especially the catastrophic figures for Black Friday after Thanksgiving, that employers who normally hire seasonal help are saving the money in a desperate attempt to keep their heads above water. There are no figures available for, say, department store and mall Santa Clauses this year as opposed to last year, but my guess is there will be a tremendous drop in that area alone.
The U.S. Postal Service hasn’t hired anywhere near as many extra mail handlers and temporary help at least judging from the absence of the usual seasonal signs and posters in the post offices.
Many Americans laid off 12 to 18 months ago will be running out of unemployment checks soon with no new jobs anywhere on the horizon. Genuine desperation will start to set in all across America.
An article entitled "Why a Strong US Dollar Foreshadows Economic Doom in 2010"
Nothing has actually changed in the US economy since the absolute collapse and nationalization of the US banking firms, and along with it the British banking houses, of 2008. Indeed, in America, the exact same games that brought down the private banks are still being played by the now government owned (or is it that they own the government...that is for another thesis) entities and this is called now called recovery. Case in point: several major banks are paying back their TARP funds and the US press is screaming to the high heavens about the wisdom of the Marxists running America. True, many of the fools that are still the majority, though shrinking, of the electarite, buy into this, but let us look closer. The TARP fund is being paid back in one of two ways: 1. unspent TARP monies are being given back to the government (note I do not say owners, since the taxserfs will never ever see this cash again) and this is called recovery or 2. the banks are selling new stock through new IPOs to pay back the debt, which in turn delutes the value of the old stock which is held by the government, thus giving with one hand and mugging with the other, again, this is called recovery. None of the other US economic indicators have improved, especially when DC's fluff and out right lies are removed.
An article entitled "What Children Are Asking Santa this Year"
Being a Santa is a great job during good times, but this Christmas, mall Santas are getting requests that betray the sad condition that many families are in.
Many children are asking for shoes and clothes because they are growing out of their old threadbare rags. Parts of America are starting to look like the poor characters in a Charles Dickens novel, but the ones in rags may not be the worst off. An increasing number of children are asking for a new house because their home was foreclosed. Other children are asking for their daddy to get a new job.
This is what the two-party system has done to millions of White families. We are plagued with a thoroughly corrupt political system that floods America with Third World invaders, allows the outsourcing of millions of manufacturing jobs and a political elite that couldn’t care less what will happen to America in the future, let alone the present. Every year the standard of living sinks lower, and the last two years have been a steep descent into another Depression. It’s long overdue that we vote the two-party system out of existence; all they do is make things worse.
An article entitled "Record High Unemployment for 2009"
The real unemployment rate is more like 17 to 20 percent. We are in a Depression, but the Democrats simply lie to us about how bad things are.
The "stimulus" money, what little of it ever trickled down to actual human beings, is running out. Note that key word "sustainable" and ponder on what it means. How "sustainable" will anything be when Obama’s health care bill passes in a couple of weeks and over the coming year, millions of people are hit with the demand that they purchase insanely expensive private insurance that they can’t afford, gobbling up what little is left of their disposable income? Over two-thirds of the US economy depends on consumer spending and the Obama regime is making a deal with insurance companies to literally impoverish a broad section of the US population.
An article entitled "While America Drowns, Obama and the Elites Party"
There is, yet again, something very Romanesque about the state of the Americans, their empire and their collapse. As the US continues to sink in its co-UK created economic armageddon, the ruling regime enjoys the fruits of its labour of looting and swindling. This is the great "Democracy" they sell us, overseas.
As the year ended, America suffered one of its worst months for employment. Sure, reading the official Ministry of Propaganda (so called free press) reports showed only a mere another 85,000 Americans as loosing jobs, or rather the work force shrinking by that amount, so it takes the UK Telegraph (America slides deeper into depression as Wall Street revels ) to report the real situation, that 650,000 unemployed were moved into a category named "No Longer Searching For Jobs". This is how the American regimes "honestly" tell the population that the unemployment rate is not going up and the lie they tell the rest of us, fortunate not to live under this deceit. This is the category that DC uses to dump the unwanted, unneeded and unemployable waste, its workers who no longer get government unemployment help and can go starve for all the elites care. After all, judging by the head lines out of DC, for the Haitians there is money, for their own unemployed, shelters and bread lines. This category has been growing by nearly half a million every month for the last year.
An article entitled "The Third Horseman of the Apocalypse Appears"
Take a look around your home town and notice all the food donation boxes popping up. Drive by your local food bank on Monday morning or whenever the issue day is, and take a look at who is standing patiently in line waiting for donated food. You’ll see some blacks and Mexicans, true, but what is shocking is that most of the people in that line today will be White. Blacks and illegal aliens have other ways to feed themselves, governmental or otherwise. Most of the people standing in that line will be White men and women who two years ago were working and feeding themselves. Some of them now have no homes to go to, but instead will take their plastic bags of donated canned goods and cardboard-packaged starch and trudge back to tent cities called Obamavilles.
Remember, the state-controlled media simply isn’t allowing us to see how bad things are getting out there. They’re still trying to fool us into thinking we’re in a "recovery". You don’t see the Obamavilles on CNN or in your local paper; you see them driving by on the highway. There’s one in your area. Go find it, and take a look at what we did to ourselves on November 4th, 2008. Or rather what liberals appeasing their White Guilt, ACORN. George Soros and the left-wing media did to us.
It's already a depression -- only fools are still speculating on what to call it. Now, an all-star list of people (some of them fools, too) who've said we're in for the worst times ever:
Missing in action: some kind of acknowledgement from Alan Greenscam of his own role in bringing on financial armageddon. He bragged in his book that he simply hoodwinked the masses for decades running through the use of weasel words etc. That was before the crisis began -- can he still be laughing? Can his wives and children possibly by now be looking at him funny along with everybody else?
<br style="color: rgb(102, 0, 0);"><table style="color: rgb(102, 0, 0);" width="98%" align="center" border="0" cellpadding="0" cellspacing="0"><t><tr><td colspan="2" ="title">Greenspan: Worst Financial Crisis EVER, INCLUDING the Great Depression </td></tr>
<tr><td ="textsmall">Published on02-24-2010</td><td ="textsmall" align="right">Email To FriendPrint Version
Source: </span>Washington's Blog
Greenspan just said that the current credit crunch is "by far the greatest financial crisis, globally, ever" -- including</span> the 1930s Great Depression.
<blockquote>Greenspan said that while the economy was in worse shape in
the Great Depression, the recent financial crisis was potentially more
harmful than that in the 1930s because “never had short-term credit
literally withdrawn.” </blockquote>Greenspan also said “fiscal affairs are threatening this outlook” for recovery.
As I pointed out last May:
The following experts have said that the economic crisis could be worse </span>than the Great Depression:
<ul>[*]Fed Chairman Ben Bernanke[/list]
<ul>[*]Economics professors Barry Eichengreen and and Kevin H. O'Rourke (updated here)[/list]
<ul>[*]Investment advisor, risk expert and "Black Swan" author Nassim Nicholas Taleb[/list]
<ul>[*]Former Fed Chairman Paul Volcker </span>[/list]
<ul>[*]Nobel prize winning economist Joseph Stiglitz </span>[/list]
<ul>[*]Economics scholar and former Federal Reserve Governor Frederic Mishkin[/list]
<ul>[*]Well-known PhD economist Marc Faber[/list]
<ul>[*]F</span>ormer Goldman Sachs chairman John Whitehead[/list]
<ul>[*]Morgan Stanley’s UK equity strategist Graham Secker </span>[/list]
<ul>[*]Former chief credit officer at Fannie Mae Edward J. Pinto</span>[/list]
<ul>[*]Billionaire investor George Sorors</span>[/list]
<ul>[*]Senior British minister Ed Balls</span>[/list]
</blockquote>Unfortunately, virtually everything the American government has done since the crisis started has been counterproductive</span>. See this, this, this, this, this, this, this, this, this, this and this.
The same is true of most other governments.
the understatement of the day, Greenspan also called the recovery
"extremely unbalanced," driven largely by high earners benefiting from
recovering stock markets and large corporations.</span></td></tr>
</t></table><br style="color: rgb(102, 0, 0);">
The Depression steam-roller continues forth...
<h1 ="categorytitle" style="font-size: 24px;">Mass Layoffs by U.S. Manufacturers Surge in January</h1>
Tuesday, February 23rd, 2010</span>
definition, a mass layoff in the United States is those job cuts that
involve 50 or more workers from the same company. Those types of events
increased by 35 in January 2010 to 1,761, according to data released.
This is odd in that it has been asserted by government officials
that we're on the edge of new jobs being created in the U.S. economy.
That doesn't seem likely in the light of the real numbers and not just
wishful thinking by politicians.
I believe the reason for the discrepancy is that companies were
replenishing supplies, as I've mentioned before here, and those needs
have probably been met in general, so as expected, the manufacturing
jobs to produce them are no longer needed. At least that would be part
of the reason for increase in mass layoffs.
The fact that there was an increase in mass layoffs shows there is a
decline in demand for products; it's as simple as that. So that means
in a number of industries people and companies are tightening up again.
My view and the data so far seem to confirm it, is there is nothing
in the numbers that confirm we're on the verge of jobs being created in
the United States any time soon.
In the manufacturing sector, there were 486 mass layoffs in January,
with the consequences of 62,556 workers filing claims for unemployment.
I think one reason officials believed there was going to be an
increase in jobs creation was because mass layoffs had been receding
since August, giving the illusion that things had turned around. But,
again, it's the replenishment which was the major factor in the mix,
not a real and sustainable change in the economy.
Since the latter part of 2007, jobs in the United States have been lost to the tune of 8.4 million.
Over the last 26 months, the Labor Department says mass layoffs have
been at a huge 53,739 during that period of time to January, with
5,425,101 workers losing their jobs as a result.
<h1 ="storyline">Jobless claims up 12% in past 2 weeks</h1>By Blake Ellis, staff reporter</span>February 25, 2010: 9:59 AM ET</span><div ="clearFloat"><br clear="all"></div><br clear="all">
YORK (CNNMoney.com) -- The number of Americans filing for initial
unemployment insurance surged to just below the 500,000 level last
week, and have climbed more than 12% over the past two weeks, the
government said Thursday.
There were 496,000 initial job claims
filed in the week ended Feb. 20, up 22,000 from a revised 474,000 the
previous week, the Labor Department said in a weekly report. The prior
week, there were 442,000 claims filed.<div id="IEContainer"><div id="shareIE"><ul><li ="f">Facebook<li ="diggLink">Digg<li ="twitterLink">Twitter<li ="yahooLink">Buzz Up!<li ="emailLink">Email<li ="printLink">Print<li ="commentLink">Comment on this story[/list]<div ="clearFloat"><br clear="all"></div></div><div id="quigo220"><div id="ad-270381" style="border: 0pt none ; margin: 0pt; padding: 0pt;" align="center">< ="text/">
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A consensus estimate of economists surveyed by Briefing.com expected new claims to fall to 460,000.
The 4-week moving average of initial claims was 473,750, up 6,000 from the previous week's revised average of 467,750.
is certainly not surprising given the very adverse weather conditions
for the eastern half of the country, especially in the major population
areas," said Robert Dye, a senior economist at PNC Financial Services.
"Weather has a huge impact, particularly with things like construction,
which remains very soft."
Over the past few weeks, the
Northeast, particularly the Washington area, has been hit with snow
storms, putting people out of work and resulting in a backlog of claims
that the Labor Department wasn't able to process until this week.
the weather's impact, Dye would have expected initial claims to decline
at "a healthy rate" of 10,000 to 20,000 last week.
The government said 4,617,000 people filed continuing claims in the
week ended Feb. 13, the most recent data available. That's up 6,000
from the preceding week's revised 4,611,000 claims.
The 4-week moving average for ongoing claims rose by 4,250 to 4,600,750 from the previous week's revised 4,596,500.
claims reflect people filing each week after their initial claim until
the end of their standard benefits, which usually last 26 weeks. The
figures do not include those people who have moved to state or federal
extensions, or people whose benefits have expired.
On Wednesday, the Senate passed a $15 billion bill
to spur job creation and give businesses tax breaks for hiring the
unemployed, but the bill does not extend unemployment benefits.
than 1 million people will run out of benefits after Feb. 28 if the
application deadline is not extended. Lawmakers are trying to pass a
short-term extension by the end of the week in order to give them time
to enact a longer fix.
claims in three states rose more than 1,000 for the week ended Feb. 13,
the most recent data available. Claims in North Carolina jumped the
most, by 5,897, which the state attributed to layoffs in the
construction, furniture and mining industries.
A total of 13
states said claims fell by more than 1,000. Claims in California
dropped the most, by 5,540, which the state said was due to fewer
layoffs in the service industry.
Outlook: "I would expect
that once we get into March and get beyond the weather-related effects,
we'll see continued improvement in overall jobless claims," said Dye.
expects employment to pick up in the next couple of months as private
sector hiring continues and the government boosts its hiring of
temporary census workers."But bear in mind that the census
workers are only temporary workers," said Dye. "The government's hiring
will ramp up through March, April and into May, and then it will ramp
back down in the second half of the year."
An article entitled "702 Banks on the Brink of Failure"
It’s not just banks that are floundering, we’ve had massive lay offs that put 7.2 million more Americans out of work in 2009. Some economists estimate the real unemployment at 17.5 to over 20 percent –basically Depression era unemployment.