Category Archives: US economy

Larry Sinclair for Congress, Met with locals, Florida district 24, Sinclair spoke to locals, Candidates speeches

Larry Sinclair for Congress, Met with locals, Florida district 24

I just spoke to Larry Sinclair. He stated that his speech to locals in Florida District 24 went very well. Sinclair spoke along with other candidates for congress.

“FL District 24 Republican Primary eat and greet”

“Candidates for Florida’s 24th district in the U.S. House of Representatives met with locals. Candidates include Deon Long, Sandy Adams, Larry Sinclair, Craig Miller, Heine Heinzelman and Ed Dedelow”

Jobless claims jump to 496,000, February 25, 2010, new claims for unemployment benefits, four week average rose, 8.4 million jobs lost, 4.6 million continuing claims, North Carolina had biggest increase

Jobless claims jump to 496,000, February 25, 2010

From Fox News,  February 25, 2010.

“New Jobless Claims Jumped to 496,000 as Heavy Snow Caused Rise in Layoffs”

“The number of new claims for unemployment benefits jumped unexpectedly last week as heavy snows caused layoffs to rise.”

“The department said Thursday that first-time claims for unemployment insurance rose by 22,000 to a seasonally adjusted 496,000. Wall Street analysts polled by Thomson Reuters expected a drop to 455,000.”

“The four-week average has risen by about 30,000 in the past month, raising concerns that job cuts are continuing. Initial claims had fallen sharply over the summer and fall but the improvement has stalled since the year began.

The economy has grown for six months but is not yet spurring new hiring. Many economists point out that the current recovery is weak compared to the aftermath of previous deep recessions.

The Labor Department said earlier this month that while the unemployment rate fell to 9.7 percent from 10 percent, employers still cut 20,000 jobs. The economy has lost 8.4 million jobs since the recession began.”

“Among the states, North Carolina had biggest increase in claims, with 5,897, which it attributed to layoffs in the construction, furniture and mining industries. Pennsylvania and Kentucky also reported large increases. The state data lags initial claims by one week.”

Read more:

http://www.foxnews.com/politics/2010/02/25/new-jobless-claims-rise-unexpectedly/

Health care reconciliation, Obama Reid Pelosi, Sham summit, 51 votes in Senate, Emergency Tele town Hall TONIGHT, Washington DC Thursday

Health care reconciliation, Obama Reid Pelosi

From Americans for Prosperity, February 23, 2010.

It was bad enough when President Obama, Nancy Pelosi and Harry Reid tried to pass their health care takeover through vote-buying, closed-door meetings, and strong-arm tactics.  But what they’re doing now is even worse…
 
Right now, Obama, Pelosi and Reid are working to ram their Washington takeover through Congress – without a real vote – using a parliamentary trick called “reconciliation.”
 
Democrats are hosting a sham “summit” this Thursday to “re-package” their failed plan before they attempt to force it through using “reconciliation.”  The result of their dishonest maneuver:  only 51 votes will be needed in the Senate instead of the 60 required by the long-established rule of law.
 
Working with grassroots allies, Americans for Prosperity has a plan to defeat this threat:
 
1. Please join us for an Emergency Tele-town Hall TONIGHT at 7:30PM Eastern to discuss this threat and our strategy to defeat it.  Dial (888)886-6603, Ext. # 14152.  Your direct involvement and input is critical to our success.  There’s no charge to you for joining this call.
 
2. If you can make it to Washington this Thursday, please stand with us as we protest right outside the gates of the DC mansion where Obama, Pelosi and Reid are hosting their sham “summit.”  We’ll meet at 9:30AM outside the Blair House (across from the Pennsylvania Avenue side of the White House ) to greet members of Congress as they arrive.  Then, we’ll hold our own Patients’ Summit at the J.W. Marriott on Pennsylvania Avenue, just a couple blocks away.  We’ll provide lunch and we’ll be joined by great speakers including Congressmen Tom Price and John Shadegg, Colin Hanna from Let Freedom Ring, and others.  (Let me know you’ll be there by CLICKING HERE.)
 
3. Just know that this Thursday beginning bright and early I’m asking you to call, email and if possible visit the district office of your Senators and House member to tell them they better not use the dishonest procedure called “reconciliation” to force through their big government health care takeover.  And, please forward this information to your friends.  CLICK HERE
 
If you can’t be there in Washington, you can still participate.  Just log onto www.AmericansForProsperity.org to view our LIVE web-cast starting at 11:30AM.
 
I know this is a lot to throw at you with short notice.  But you and I have worked too hard to give up now and let the Left force this agenda through Congress with a legislative trick.  The American people have already rejected a government takeover of our health care, time and time again.  Let’s make it clear that we’re not falling for the Left’s slick advertising campaigns – and that those who support them or stand aside while they subvert democracy will pay a huge price.
 
Thanks for all you do – now let’s win this fight.
 
Sincerely,

Tim

February 18 2010, Jobless Claims rise, Inflation jumps, Economy Wobbles, New applications unemployment insurance surged last week, unemployment benefits increased 31,000, producer prices increased sharply in January

February 18 2010, Jobless Claims rise

From CNBC.com, february 18, 2010.

“Jobless Claims, Inflation Jump as Economy Wobbles”

“The number of U.S. workers filing new applications for unemployment insurance unexpectedly surged last week, while producer prices increased sharply in January, raising potential hurdles for the economic recovery.

Initial claims for state unemployment benefits increased 31,000 to 473,000, the Labor Department said on Thursday. That compared to market expectations for 430,000.
Another report from the department showed prices paid at the farm and factory gate rose a faster than expected 1.4 percent from December after a 0.4 percent gain in December, as higher gasoline prices and unusually cold temperatures helped boost energy costs.
“When you have PPI moving up and still no progress in the jobs situation, that doesn’t bode well for continued improvement in equity prices,” said Alan Lancz, president at Alan B. Lancz & Associates in Toledo, Ohio.”

“Another report from the department showed prices paid at the farm and factory gate rose a faster than expected 1.4 percent from December after a 0.4 percent gain in December, as higher gasoline prices and unusually cold temperatures helped boost energy costs.
“When you have PPI moving up and still no progress in the jobs situation, that doesn’t bode well for continued improvement in equity prices,” said Alan Lancz, president at Alan B. Lancz & Associates in Toledo, Ohio.”

Read more:

http://www.cnbc.com/id/35457298

Shadow Inventory Of Troubled Mortgages, Standard and Poors, US housing prices, Mortgage crisis may be far from over, More delinquencies and lower home prices are to come

Shadow Inventory Of Troubled Mortgages

From Standard and Poors, February 16, 2010.

“The Shadow Inventory Of Troubled Mortgages Could Undo U.S. Housing Price Gains”

“In summer 2009, the seasonally adjusted S&P/Case-Shiller Home Price Index rose for the first time in virtually two years. Since May 2009, the index has risen by over 3%, suggesting that the necessary correction to U.S. residential home prices is nearing an end. However, in Standard & Poor’s Ratings Services’ view, the mortgage crisis may be far from over. The overhang of homes heading toward liquidation suggests more delinquencies and lower home prices are to come.
The current “shadow inventory” (including all delinquent loans, not only those that are real estate owned [REO]) of troubled mortgages will likely take about 33 months?or nearly three years?to clear at the current rate of liquidations. Moreover, we believe this estimate is conservative, as we do not assume any loans that have yet to show any serious signs of distress to date will default in the future and further increase the overhang of homes. Nonetheless, we believe that in reality additional loans will default in the near future due to the weak economic environment, distressed residential home values, and the resulting contraction in the supply of mortgage finance.
We believe that the recent reversal in housing prices is the result of a temporary constriction in the supply of foreclosed homes on the market. This temporary constriction ensued because servicers have completed fewer foreclosures due to court delays, servicing backlogs, and political pressure to keep borrowers in their homes. However, there is a rapidly growing shadow inventory of properties where borrowers are delinquent but foreclosure has not been completed. Overall, it is our opinion that recent positive housing reports should not be construed as a sign that the distress in the residential housing market is abating, but rather should be attributed to the temporarily limited supply of homes on the market.”

“A Swelling Number Of Distressed Loans Creates The Shadow Inventory
The monthly balance of distressed loans currently outstanding relative to the monthly balance of those that pay off, or close, suggests that there is a growing shadow inventory of loans that need to undergo the closure process. In January 2005, the balance of distressed loans outstanding was about 18x that of distressed loans that closed. Today, the balance of outstanding to closed distressed loans has increased to about 31x (see chart 2).”

Chart 2

Read more:

http://www.standardandpoors.com/ratings/articles/en/us/?assetID=1245206147429

Grassroots in Nebraska update, February 10 2010, Meeting February 11, Sovereignty Resolution, Open thread, Larry Sinclair, Government control of health care, Rezko, Blagojevich, John Brennan, MN senate race, Al Franken

Lest we forget.

There is much going on, we are on the road to saving this country from collapse and we must continue to fight to save it. There are many unfinished stories to write and to stay on top of. Here are just a few of them.

John Brennan’s controversial handing of terrorists, his controvesial past and his very suspicious ties to Obama.

The Rod Blagojevich trial, Tony Rezko sentencing and what potentially will be revealed about Obama.

The suspicious MN senate race and seat that Al Franken obtained.

The continuing struggle of Larry Sinclair to keep his story alive and the efforts to silence him.

Aside from the Tony Rezko trial and subsequent indictments of Obama associates such as Rod Blagojevich, Larry Sinclair and his story may have been the single biggest catalyst for many to begin questioning Obama early in 2008. He has not backed down. As many of you know, from the moment that Sinclair came out with his Youtube video in January 2008, he has constantly been attacked and no expense has been spared to shut him down. This is part of a much larger story of the MSM being complicit in hiding Obama’s past. We were not going to let that happen then and now.

I want to thank everybody for their efforts last night to help Larry Sinclair. We are all connected as Americans and as voyagers on this planet. We need each other and I believe one of the lessons of this life is awareness of the plight of others. Mother Teresa certainly exemplified that. Our efforts to save this country also bear this out as well as our efforts to look out for each other. Thanks to all who responded to my plea last night. It is not just about money. Caring, praying for and just doing what you can are what it is all about.

There is a new story that has developed out of the Larry Sinclair struggle. This story reveals what can happen when the government has control of our lives, in this case, Social Security. I have first hand knowledge of this. Just as I was writing this article, I received an email.

“Citizen Wells,  What do you think about a mass petition to US Senators
from Florida with everything that has happened to Larry and demand that his Social Security be reinstated.  I have had a battle royal with them myself, they have stopped and started mine three different due to letters being sent to them from my enemies.  If we could get a petition together including the facts from the beginning and have it hand delivered, I really believe it might make a difference.  They all know this SOB is illegal but want to push it from someone else’s proof.  this might work, especially through the Republican side.  Who Knows???  After all, with Larry’s illness, Obama with his dirty tricks is denying him medical care that will save his life.  Just A thought.  I can’t donate, but I can help push a petition and information of whats going on.”

Anyone out there think that we need to give the US Government control over our health care? 

Our friends in Nebraska have been doing their best to fight the bribery of Ben Nelson and prevent the federal government from becoming too powerful. From Grassroots in Nebraska.

Meeting Thursday Feb. 11th at IHop + BIG News on Sovereignty *All Hands on Deck*
InboxX

 Reply grassrootsne.com to Wendy
show details 4:16 AM (6 hours ago)
A Message from Grassroots in Nebraska
The email system improvement seems to be working!

As noted in a message from last week, we are having a meeting this Thursday night.
Here are the details:
Day / Date: Thursday, February 11
Time:           7:00 – 8:30pm
Location:     IHop Restaurant
                    4501 N. 27th
                    Lincoln

Click HERE for a map
Agenda:
Brief review of last quarter
Overview of “Watchdog” program, announcement about a coalition, and recruitment of volunteers
Status update on Sovereignty Resolution, Hearing, and related events now in the works
Status on OK State Representative Charles Key’s travel to Lincoln for Sovereignty testimony & a public event
Upcoming events: Sunday 2/14 Webinar with Laura Ebke, Social Media Training, A New America Premiere, April Tea Party, more
PLEASE RSVP IF YOU PLAN TO ATTEND We are at about half of capacity at this time. With the developments on Sovereignty, we anticipate additional interest in the meeting.
If you would like to have dinner prior to the meeting, Wendy secured the room beginning at 6:00pm.

SOVEREIGNTY
Senator Tony Fulton’s Sovereignty Resolution has been scheduled for a hearing before the Government, Military, and Veterans Affairs Committee, Friday, February 19 at 1:30pm.
It is currently the first item scheduded to be heard.
**WE NEED AS MANY BODIES AS WE CAN GET AT THAT HEARING –
THINK OF IT AS THE BIGGEST TEA PARTY WE’VE EVER PUT ON**

Linda Rohman and I had a meeting with Senator Fulton on February 1, prior to the hearing being scheduled, to offer what ever support we could in helping the bill to pass. We had a follow-up meeting yesterday to give a progress report on our plans.

Linda has had prior successful experience in coordinating legislative advocacy with the Nebraska Home Educators’ Association. A very restrictive homeschooling bill had been proposed which went no further because NCHEA coordinated testimony and rallied up HUGE attendance at the Education Committee hearing. 1200 homeschoolers descended on the Capitol that day.
*We need THAT kind of support for the Sovereignty Resolution*
Come to the meeting Thursday evening to hear about the effort underway to ensure the passage of the bill.
I will be putting out further details on Friday.

One aspect of these plans is now likely to involve testimony by Oklahoma State Representative Charles Key. Representative Key was the author of the Oklahoma Sovereignty Resolution, which was successfully passed over the OK Governor’s veto in 2009. He is considered a leader in the Sovereignty movement; his bill has been used as a “template” by other states. He has testified before other state’s legislatures, including most recently, Kansas in January.
We will have received additional information about Rep. Key’s ability to come to Lincoln by the Thursday.

In addition to the effort to get people to the hearing, we are planning associated events and we will need many volunteers.
We look forward to seeing you at the meeting. If you are not able to attend but would like to help with the effort, please let us know!
Thank you,
Shelli

Census Boondoggle, Michelle Malkin report, US Census Bureau, National Democrat Future Voter Outreach Drive, Super Bowl ad, Ed Begley Jr, 2.5 million dollar ad, Obama When times are tough you tighten your belts

Hats off again to Michelle Malkin who tells it like it is.
From Michelle Malkin, February 5, 2010.

“The Super-Sized Census Boondoggle”

“If only the federal government were as responsible with our money as Pepsi is with theirs. The soda giant has been in the Super Bowl ad business for more than two decades. But this year, Pepsi determined it was economically unwise to pay $3 million for a 30-second spot. So, who’s foolish enough to pay for Super Bowl gold-plated airtime? You and me and Washington, D.C.
The U.S. Census Bureau will squander $2.5 million on a half-minute Super Bowl ad starring D-list celebrity Ed Begley, Jr., plus two pre-game blurbs and 12-second “vignettes” featuring Super Bowl anchor James Brown. It’s a drop in the Census boondoggle bucket (otherwise known as the tax-subsidized National Democrat Future Voter Outreach Drive). The Obama White House has allocated a total of $340 million on an “unprecedented” promotional blitz for the 2010 Census. That’s on top of $1 billion in stimulus money siphoned off for increased Census “public outreach” and staffing. In all, the Census will triple its total budget from 2000 to $15 billion.
Ads pimping the Census have already appeared during the Golden Globe awards and will broadcast during the Daytona 500 and NCAA Final Four championships. Some $80 million will be poured into multi-lingual ads in 28 languages from Arabic to Yiddish. Racial and ethnic groups have been squabbling over their share of the pie.
The U.S. census is a decennial census mandated by our constitution. Should Americans know about it? Sure. Should the p.r. budget become a bottomless slush fund in recessionary times? Surely not.”

Read more:

http://michellemalkin.com/2010/02/05/the-super-sized-census-boondoggle/

Thank you Michelle Malkin for all that you do.

Wells

“As if overpriced TV ads, online videos no one watches, and indulgent, cross-country caravans weren’t enough, the Census Bureau is also enlisting 56 million schoolchildren to pester their parents and act as junior government enumerators. Educrats are spending several billions more on math and social studies lessons peddling the Census. Overzealous Census partners such as the National Association of Latino Elected Officials have distributed recruitment propaganda urging constituents to participate because “Joseph and Mary participated in the Census.” Goodness knows what kind of fear-mongering curricula the kids are being served in the name of counting heads – and shaping the electoral landscape.

“When times are tough, you tighten your belts,” President Obama lectured us. “You don’t blow a bunch of cash on Vegas.” Coincidentally, the Census Road Tour junketeers just wrapped up a visit in Vegas. Next stop? You guessed it: The Super Bowl in Miami. Taxpayers should start crying foul.”

Sarah Palin blasts Obama administration policies, Nashville Tea Party convention, Palin take on Obama, 2012, Palin attacks Obama foreign policy, Obama terrorists, Fox News Sunday, Sarah Palin video

Sarah Palin blasts Obama administration policies at Nashville Tea Party convention

From Fox News, February 7, 2010.

“Palin ‘Would Be Willing’ to Take On Obama in 2012”

“Sarah Palin has President Obama in her sights, telling FoxNews.com she “would be willing” to challenge him in the 2012 presidential race.

The former Alaska governor, in an interview Saturday on the sidelines of the National Tea Party Convention in Nashville, said President Obama’s “lack of experience” has held him back his first year in office and that she would put her credentials up against his any day.

“I would be willing to if I believe that it’s right for the country,” Palin said when asked if she would run for president in 2012.

She qualified the statement, adding that she sees “many” other potential candidates who are “in as strong or stronger position than I am to take on the White House and if they’re in a better position than I in three years, I’ll support them.”

But the former GOP vice presidential nominee told “Fox News Sunday”: “I won’t close the door that perhaps could be open for me in the future.””

“Palin slammed Obama in her Nashville speech for his foreign and national security policies. And with health care reform on the ropes, she told FoxNews.com it’s time to pull the plug.

“I sure wish that the present tool being used to reform health care would die, but I don’t trust as far as I can throw them some of the people who are saying ok, we’ll slow down,” she said. “What they’re working on today there in Congress and the White House, it needs to die.””

Read more:

http://www.foxnews.com/politics/2010/02/07/palin-willing-obama/

Doug Hoffman, GOP Tea Partiers Must Work Together, McLaughlin & Associates poll, Republicans, Hoffman deserves another chance, Republican ticket and Conservative line

From the National Journal, February 2, 2010.

“Hoffman: GOP, Tea Partiers Must Work Together”

“When Doug Hoffman, running on the Conservative Party line, was narrowly defeated by Democrat Bill Owens for New York’s 23rd Congressional District seat, some might have thought this was a fluke. But after Republican Scott Brown captured the Senate seat in Massachusetts, Hoffman’s near-win has been seen as a momentum-builder for conservatives and the Tea Party movement.”

“While he hasn’t announced his candidacy yet, a McLaughlin & Associates poll released last month showed 74 percent of Republicans in the district agreeing that Hoffman deserves another chance at the seat. NationalJournal.com caught up with Hoffman last week to ask him about his plans for November.
NJ: If you do decide to run, would you be running as a Conservative candidate or vying for the Republican nomination?
Hoffman: I’m going to try to get both of the tickets — the Republican ticket and the Conservative line.
NJ: One activist told me that the Tea Partiers are keeping the GOP “at arm’s length.” Given this attitude, do you think that running under the GOP umbrella might turn off some Tea Party voters or independent voters?
Hoffman: The people that supported me and came out to support me knew that I was a lifelong Republican and knew that I was fighting for the heart and soul of the Republican Party, so I don’t think it will turn it off. I think I can be the catalyst, especially in the 23rd District, to bring the two movements together and work effectively, not only for my campaign but for the other Republicans in the district.
NJ: How would you compare the reception that you’re getting from national Republican Party leaders this time around to that from last election?
Hoffman: 180 degrees. They’re very enthusiastic, receptive, and we’re going to work together to win in 2010.
NJ: Are you making plans to improve your ground game?
Hoffman: If I do make the announcement to run, I am certainly going to tap into the help that I received from the Tea Party organization. Now, I realize that across the country I won’t get the support I had the last time because they’re going to be busy in their own districts, but within my district we have a lot of volunteers that came from the Tea Party movement who are ready, willing and eager to get re-involved in my campaign.
NJ: While a lot of Tea Party groups agree on policy, there is some disagreement on how to meet those goals — whether it is forming their own party or taking over the GOP or just acting as a check on the GOP. What, in your mind, should be the goal of the Tea Party movement?

Hoffman: Well, I don’t think it’s a taking over of the Republican Party, I think it’s bringing them together, to work effectively together to achieve the common goal. … Not everybody running on the Conservative line can get 46 1/2 percent of the votes. In reality, we need to work together to win together.”

Read more:

http://insiderinterviews.nationaljournal.com/2010/02/hoffman-gop.php

Real unemployment rate, February 6 2010, Jobless claims, More jobs lost, Government surveys, Americans not looking for jobs

“And if all others accepted the lie which the Party imposed
–if all records told the same tale–then the lie passed into
history and became truth. “Who controls the past,” ran the
Party slogan, “controls the future: who controls the present
controls the past.”…George Orwell, “1984″


Yesterday, February 5, 2010, we reported that the supposed latest unemployment rate is 9.7 %, while at the same time unemployment claims rose again for the last week.

“The unemployment rate dropped from 10 percent because a survey of households found the number of employed Americans rose by 541,000, the Labor Department said Friday. The job losses are calculated from a separate survey of employers.

The department also revised its past employment estimates to show that job losses from the Great Recession have been much worse than previously stated. The economy has shed 8.4 million jobs since the downturn began in December 2007, up from a previous figure of 7.2 million.

That’s the most jobs lost in any recession, as a percent of total employment, since World War II.”

“The Labor Department says unemployment claims rose 8,000 to a seasonally adjusted 480,000 last week. Economists had predicted claims would drop to 460,000.”

“Stock futures weakened Thursday as a rise in weekly jobless claims damped hopes about a key employment report Friday.”
Real unemployment rate?

From Fox News, February 05, 2010

“The Real Story Behind Our Unemployment Numbers”

“A slight improvement in the jobless rate but what is the government hiding about the picture for most of 2009?”

“Most people seem to believe that the number of Americans with jobs is a clearly identifiable number. All you do is count up the number of people with jobs. Unfortunately, that isn’t the way it works. The number reported each month is based on surveys, and surveys have can often have problems. As it turns out, the surveys estimating the number of people with jobs reported over the last couple of years suffered from some really big problems. The economy actually lost about 824,000 more jobs during the recession than we previously thought.
But those adjustments have so far only been made through March 2009, and there are strong reasons to believe that the survey data since then also needs to be adjusted downward.
There are two ways economists measure the number of jobs, the establishment survey that asks about 370,000 employers how many people they are employing and the household survey that asks about 110,000 people each month whether they are working. The establishment survey is often given more weight because about 40 million Americans work for the companies surveyed, a lot more than the 110,000 people interviewed in the other survey. But 110,000 people still make up a huge sample (remember that a big survey for a presidential election might involve 2,000 people), and it is hard to ignore its results. The household survey is also what is used to calculate the unemployment rate.”

“These recent errors are quite large. The error in estimating the number of jobs from April 2008 to March 2009 was 10 times greater than the average error over the preceding eight years. What does this mean in terms of jobs? Normally the government would underestimate the number of new jobs by 80,000 and this time it was overestimating them by about 800,000.”

Read more:

http://www.foxnews.com/opinion/2010/02/05/john-lott-unemployment-jobs-bureau-labor-statistics-grim/

Do the government numbers “smell right” to you?