Category Archives: US economy

Obama lies in NC print edition of Rhino Times, John Hammer truth about Obama, Obamacare huge tax increase on middle class, ABC News lies, Obama lacks economic knowledge

Obama lies in NC print edition of Rhino Times, John Hammer truth about Obama, Obamacare huge tax increase on middle class, ABC News lies, Obama lacks economic knowledge

“North Carolina currently has the fourth-highest unemployment rate in the country and has stayed well above the national average through 2012.”…WRAL, August 17, 2012

“We tried our plan—and it worked. That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.”…Barack Obama

“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984”

In print in NC, the Rhino Times August 23, 2012.

“Four years ago the stars lined up for Obama. He got into the Democratic primary in order to get name recognition and maybe a slot in President Hillary Clinton’s cabinet. Then the accidental candidate won Iowa and realized that with one more primary win – South Carolina – he could be president.

Everyone loved Obama because of his unlikely story, and he gave great speeches. Some noticed that he didn’t really say anything in the speeches, but those who noticed were mostly Republicans and nobody paid any attention to them.

The media went gaga. They reported only the good stuff about Obama. And the Republicans couldn’t have helped more. They nominated an old worn-out, politically compromised senator who had been in Washington for so long he actually thought he could run with the same running mate as former Vice President Al Gore. Failing that he picked Alaska Gov. Sarah Palin, who, as it turned out, was a brilliant pick for about two weeks. But then McCain turned her over to the political buffoons who were running his campaign, and Katie Couric in one interview completely destroyed Palin’s credibility. But there you have it, the news media stepped in and did what Obama needed to have done to make certain he would win.

Apparently this election is going to be different. Newsweek has come out with a cover that reads, “Hit The Road Barack. Why We Need A New President.”

I subscribed to Newsweek for about 15 years. I stopped my subscription recently, and even when the renewals got down around $10 a year I refused to bite because I was tired of reading about the messiah who we had elected president. There was nothing that Obama could do that wasn’t wonderful in the eyes of Newsweek. Since I already receive White House press releases, Newsweek seemed redundant.

Now, Newsweek has on its cover that Obama must go and it is a well-written, factual article. The very fact that Obama cheerleader Paul Krugman felt the need to instantly challenge the article is evidence of its damaging effect.

The article goes through the promises that Obama made at his inauguration and how he has failed to keep them. The economy is the big issue. But there are others, like promising no middle-class tax increase when Obamacare is a huge tax increase on the middle class, and we know it is a tax because the Supreme Court said it was.

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Usually you have to wait until after the election for the dirt to come out about campaign staffs, but there is already an e-book out about the 2012 Obama campaign and how it is beginning to fall apart.

One of the passages in the book is about how Obama doesn’t make big economic decisions because he doesn’t understand what he is supposed to be deciding.

Obama has no knowledge or experience that would indicate that he understands economics at an international level. Obama thought there was such a thing as a “shovel ready” government project when he signed the $1 trillion stimulus package. It was only much later when the money wasn’t being spent that he found out that shovel-ready projects are a lot like unicorns, people may talk about them but you can’t really put your finger on one.

If the Obama 2012 campaign kickoff is a foreshadowing of things to come it is going to be a long fall for Obama. The kickoff did exactly what a campaign doesn’t want to ever do: It put the candidate in front of thousands of empty seats. Obama just doesn’t have the drawing power that he did and the campaign realized too late that despite all of their efforts they weren’t going to fill the arena.

It’s not the way you want to kick off a campaign. A candidate is better off speaking to a crowd of 200 in an overflowing room than a crowd of 10,000 in a 20,000-seat arena. That is campaigning 101. It wasn’t such a bad mistake but it is a sign that Obama’s 2012 campaign is not going to be anything like his 2008 campaign.

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If you are getting your news from ABC, it’s time to stop. The networks other than Fox all tilt strongly left, but ABC is willing to lie, or else is filled with total incompetence. All of us in the news business make mistakes. Last week we managed to misspell sheriff, but ABC has taken mistakes to a new level. First, it reported that the Aurora, Colorado, shooter was a member of the Tea Party. He wasn’t, but someone with a similar name was. This is a huge story and you simply don’t make that kind of mistake in an election year by accident. Second, when ABC called the shooter’s mother she said, “You have the right person,” meaning she was the mother of the young man they were asking about. ABC managed to interpret that to mean, “Yes, my son did the shooting,” which is a really bizarre interpretation and sounds a lot like the leaps of faith that the News & Record makes.

Third, ABC reported that filmmaker Tony Scott, who jumped to his death from a bridge in Los Angeles, had inoperable brain cancer. He did not. ABC, sadly, is simply putting rumors and innuendo on the air as news. Any of the three mistakes could be explained away, but all three is a pattern. Nobody is watching the store.

If you get your news from ABC try Fox for a while, at least until there is a housecleaning at ABC. Until they clean house, including getting rid of the parking lot attendant and the custodial service, they are going to keep having problems.”

http://greensboro.rhinotimes.com/Articles-Columns-c-2012-08-22-212929.112113-Under-the-Hammer.html

US unemployment claims rise 4000, NC unemployment rate 9.8 percent, Unemployment rate increased in 26 NC counties, Charlotte Mecklenburg rate 10 percent

US unemployment claims rise 4000, NC unemployment rate 9.8 percent, Unemployment rate increased in 26 NC counties, Charlotte Mecklenburg rate 10 percent

“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011

“North Carolina currently has the fourth-highest unemployment rate in the country and has stayed well above the national average through 2012.”…WRAL, August 17, 2012

“We tried our plan—and it worked. That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.”…Barack Obama

From the US Labor Department August  23, 2012.

“In the week ending August 18, the advance figure for seasonally adjusted initial claims was 372,000, an increase of 4,000 from the previous week’s revised figure of 368,000. The 4-week moving average was 368,000, an increase of 3,750 from the previous week’s revised average of 364,250.

The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending August 11, unchanged from the prior week’s unrevised rate.

The advance number for seasonally adjusted insured unemployment during the week ending August 11, was 3,317,000, an increase of 4,000 from the preceding week’s revised level of 3,313,000. The 4-week moving average was 3,311,500, an increase of 6,500 from the preceding week’s revised average of 3,305,000.”

http://www.dol.gov/opa/media/press/eta/ui/current.htm

From the NC Department of Commerce August 24, 2012.

“North Carolina’s statewide unemployment rate (not seasonally adjusted) was 9.8 percent in July. This was a 0.1 of a percentage-point decrease from June’s revised rate of 9.9 percent, and a 1.1 percentage-point decrease over the year.

Over the month, the unemployment rate decreased in 47 counties, increased in 26 and remained the same in 27. Thirty-four counties had unemployment rates below the state’s 9.8 percent rate.

Scotland County recorded July’s highest unemployment rate at 17.6 percent, remaining the same as the previous month. Graham County had the second-highest rate at 15.2 percent. Currituck County had the lowest unemployment rate at 4.7 percent, followed by Chatham, 7.0 percent; and Orange, 7.1 percent.”

http://www.ncesc1.com/PMI/Rates/PressReleases/County/NR_July2012CountyRate_M.pdf

Mecklenburg County, the home of the 2012 Democrat convention in Charlotte, has an unemployment rate of 10 percent.

Obama Vs Romney, What This Election Means For Investors, Companies do not pay taxes consumers do, Obama taxing and spending has ruined economy

Obama Vs Romney, What This Election Means For Investors, Companies do not pay taxes consumers do, Obama taxing and spending has ruined economy

“We tried our plan—and it worked. That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.”…Barack Obama

“The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command. His heart sank as he thought of the enormous power arrayed against him, the ease with which any Party intellectual would overthrow him in debate, the subtle arguments which he would not be able to understand, much less answer. And yet he was in the right! They were wrong and he was right. The obvious, the silly, and the true had got to be defended. Truisms are true, hold on to that! The solid world exists, its laws do not change. Stones are hard, water is wet, objects unsupported fall towards the earth’s centre. With the feeling that he was speaking to O’Brien, and also that he was setting forth an important axiom, he wrote:

Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

“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″

Here is your assignment:

For all the clueless, Obot, left wing, liberal friends in your sphere of influence.

Explain to them simply that companies, corporations, do not pay taxes. Consumers do.

Explain to them that the profit margin for oil companies is one of the lowest and not guaranteed.

Ask them if they drive a car.

Then ask them if they want to continue driving and eat. Remind them that high gas prices affect the price of many goods and services.

Intelligent people want the oil companies to succeed and make a profit.

From Forbes August 22, 2012.
“Obama Vs. Romney: What This Election Means For Investors”

“Campaign season is in full swing, and by tapping Wisconsin Congressman Paul Ryan as his running mate, Republican candidate Mitt Romney has made clear that his campaign will try to hit President Obama where he appears weakest: on the economy and the need for drastic fiscal reform.

For voters, the tepid recovery and high unemployment rate will be points of focus in the two months and change before Election Day Nov. 6, but for investors of every stripe – from those managing retirement portfolios to amateur stockpickers – there are plenty of differences between the candidates that are worth diving into.

That was what struck Tim Steffen, director of financial planning in Robert W. Baird’s wealth management business, and it’s why he put together a handy guide explaining where each candidate stands on issues ranging from income taxes and health care to just how big a cut Uncle Sam will take out of dividends and capital gains.

The latter points are critical for investors, and Steffen explains that the dividend debate will be particularly interesting to watch. Many investors play the income game by purchasing shares of companies that deliver profits back to shareholders in the form of dividends.

President Barack Obama has proposed raising taxes on dividend income for Americans that make more than $200,000 per year ($250,000 for couples), and keeping the current rates steady (0% on qualified dividends and 15% on carried interest) for those below that threshold.

Republican challenger Mitt Romney would maintain the current rates for those making more than $200,000 annually, and completely eliminate taxes on capital gains, dividends and interest income for any taxpayer with less than that in adjusted gross income.

“Dividends are a big [issue], both on the tax rates and what will happen to companies’ willingness to pay,” Steffen says. If the tax rate changes, some worry fewer companies will follow the lead of those like Apple, which initiated a quarterly dividend this year, or Cisco Systems, which recently hiked its payout by 75%, opting instead to buy back shares. “It’s a concern,” Steffen adds.

He argues that Obama’s plan would increase the cost to all taxpayers on investment income, and triple dividend taxes, but notes that there are likely to be differences between what the president proposes and what ultimately gets through Congress. For instance, the proposal to treat dividends as ordinary income has met resistance in a Senate bill passed that would call to raise such rate to just 20% on higher-income taxpayers, well short of the

While tax issues in the campaign may not be at the fore yet, Steffen believes they will crystallize if no action is taken by a lame duck Congress to extend the Bush tax cuts in some form. Americans will start to see bigger withholdings taken out of their paychecks, he says. “When that happens, people start noticing.”

Corporate taxes are another battleground for Obama and Romney. The President has said that the fat profits of oil giants like Exxon Mobil and Chevron warrant the elimination of subsidies for such companies, and would attempt to lower the overall corporate rate by eliminating many deductions. Romney would seek to drop the corporate rate and cease taxing corporations on income earned overseas, which some argue would eliminate the quandary posed by foreign profits being locked up abroad.”

http://www.forbes.com/sites/steveschaefer/2012/08/22/obama-vs-romney-what-this-election-means-for-investors/

Capital is the engine of this economy and that is mostly money invested by small investors like the little old lady down the street depending on dividends for retirement income.

Raising taxes cripples the economy, as any lucid person has noticed and kills job growth.

Obama has stated:

“And when the price of oil goes up, prices at the pump go up, and so do these companies’ profits,”
“Meanwhile, these companies pay a lower tax rate than most other companies on their investments — partly because we’re giving them billions in tax giveaways every year.”

From Citizen Wells April 3, 2012.

“Let’s begin with profits.

Combined, US oil companies are huge and employ millions of employees. Of course their profits will be large numbers.

Also, we want them to make a profit so that they can keep the gasoline and other petroleum products flowing and people working. If they fail, so does our economy.

And how big are the oil company profits?

Net profit margins:

Oil & Gas Refining & Marketing 3.00 %

Oil & Gas Pipelines 6.00 %

Compare these profit margins to other industries.

http://biz.yahoo.com/p/sum_qpmd.html

What about taxes?

First, the corporate tax rate in the US is near or at the top in the world.

US oil companies pay enormous amounts of taxes. How does this compare to one of Obama’s pay to play buddies GE? Check this out for yourself.

Here is the really important point about raising taxes on oil companies and other companies.

Companies (corporations, LLC’s, partnerships, sole proprietors) do not paytaxes!

Consumers pay for the tax increases.

Taxes are part of the cost of doing business.

A tax increase to a company results in some combination of the following:

Product and service price increases.

Employee and hours cutbacks.

Reduced hiring.

Does any of this sound familiar?

The Obama administration has been responsible for rising gas prices and they are now trying to raise them more.

Of course this has impacted food prices and jobs.

Sound familiar?”

https://citizenwells.wordpress.com/2012/04/03/obama-lies-on-oil-companies-taxes-profits-and-impact-on-consumers-obama-energy-policy-based-on-chicago-pay-to-play-politics-truth-team-notification/

Obama NC college economy in ruins, Tuition up, Healthcare almost doubled, Unemployment up, UNCG and A&T student cancellations, No college & no jobs

Obama NC college economy in ruins, Tuition up, Healthcare almost doubled, Unemployment up, UNCG and A&T student cancellations, No college & no jobs

“The hikes have forced more students to take on extra jobs to pay for school, or drop out altogether.”

“The state mandates that at least 25 percent of the money from the tuition dollars go toward financial aid for needy students. Some board members recently have spoken out about that requirement, saying it essentially calls for students, who themselves may be struggling, to subsidize the education of other students.”…Greensboro News record February 11, 2012

“The cost of health insurance will climb from a range of $61 to $77 monthly to a range of $118 to $133 monthly, according to a memo sent from UNC President Tom Ross to the UNC Board of Governors. On an annual basis, most students will pay about $500 to $700 more in 2012-13, depending on the campus.”

“Mallette said the insurance increases are due to the health care usage of UNC system students during the past couple of years, plus federal regulations on preventive care and pharmacy services issued in March. The process is complicated, he said, by the new provisions of the Affordable Care Act.”…Charlotte Observer May 1, 2012

“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011

Michelle Obama spoke at UNCG a few weeks ago.

“It means all of our kids should be able to go to college without a mountain of debt.”

“Because of this reform, our children can stay on our insurance until they’re 26 years old. (Applause.) So they don’t have to lose their health care when they graduate and they’re out there looking for a job, trying to build their lives.”

“I want you to tell them how many jobs he created. Tell them how much money he’s put back in the pockets of American people. You can tell them that more of our kids can afford college;”

https://citizenwells.wordpress.com/2012/08/02/michelle-obama-uncg-speech-august-1-2012-obama-lies-job-lies-tax-lies-college-tuition-lies-health-care-lies-student-loans-and-records-hidden/

Obama lies versus Obama reality.

From the front page of the Greensboro News & Record August 20, 2012.

“Registration cancellations rising at UNCG, A&T”

“UNCG about two weeks ago canceled the registrations of about 1,300 students because they had yet to pay their tuition bills — the highest number of cancellations since fall 2009, university officials said.

N.C. A&T is also seeing an increase in the number of students facing cancellation. The schools’ officials attribute their numbers to a variety of factors, including tuition increases and cuts and other changes in state and federal financial aid programs.

“Every lost soul is unacceptable to me, and it really hurts when we have to cancel that many registrations,” said Steve Roberson, UNCG dean of undergraduate studies.

By Friday, UNCG had managed to whittle that number to just 500, according to preliminary data.

But administrators are concerned about the large number of students who are having trouble paying this year.

UNCG Vice Provost Alan Boyette said recently that some students ran into problems because they did not apply for financial aid on time, or their financial aid had not yet been packaged. So, he expected that initial number would be reduced.

He said enrollment this year is “really unpredictable.” The university is gauging payments and registration on a near daily basis to get a feel for what the final number will be, he said.

“We think the timing is clearly related to the current economy,” Boyette said of the number of students paying late.

Sarah Carrigan, UNCG director of institutional research, said Friday that UNCG canceled 1,300 student registrations between July 31 and Aug. 8.

That’s an increase of about 500 over last year at that same time, she said.

As of Friday, about 800 of those students had paid to register again, Carrigan said.

A&T has also had a slight increase in the number of students who risk having their registrations canceled, said Akua Matherson, the university interim associate vice chancellor for enrollment management.

As of late Friday afternoon, the university was scheduled to cancel the registrations of 541 students, Matherson said.

That’s a 2.5 percent increase from last year, she said.

Those students had until the close of business Friday to make some kind of arrangement to keep their registration.

Staff from both universities spent much of the summer reaching out to students who were eligible to return to school but had not registered to find out what their problems are and to offer solutions.

More than 80 percent of A&T students qualify for need-based aid. Staff members have talked to families whose financial situations have changed, such as one parent losing a job.

“Some of our students are looking at some real challenges,” Matherson said.

Deborah Tollefson, UNCG financial aid director, has heard similar stories of parents’ stretched incomes.

She said that counselors steer students away from private loans.

Instead, they inform them of such options as federal loans, part-time campus employment and tuition payment plans if they are having trouble paying.

Tollefson said that UNCG has received a lot of late financial aid applications this year. Students who didn’t have to take out loans two or three years ago are now having to but are unfamiliar with the process, she said.

A&T had 10,590 students enrolled as of Wednesday, the first day of classes.

UNCG’s latest enrollment figures showed an enrollment of 17,800. Students there start classes today.”

http://www.news-record.com/content/2012/08/20/article/registration_cancellations_rising_at_uncg_at

With the Obama economic plan we get higher tuition, much higher health care costs and higher unemployment.

From Citizen Wells February 12, 2012.

“Amid chants of protest from about 100 students, the UNC Board of Governors this morning approved President Tom Ross’ proposal for tuition and
fee hikes over the next two years.

Ross’ plan would raise tuition by an average of 8.8 percent across the system and keeps increases below 10 percent on every campus.”

“Today’s vote caps months of intense debate over tuition, which the system has used in recent years to help make up for legislative cuts to its budget. The
hikes have forced more students to take on extra jobs to pay for school, or drop out altogether.”

“The state mandates that at least 25 percent of the money from the tuition dollars go toward financial aid for needy students. Some board members recently have spoken out about that requirement, saying it essentially calls for students, who themselves may be struggling, to subsidize the education of other students.”

https://citizenwells.wordpress.com/2012/02/12/unc-tuition-hikes-university-of-nc-system-raises-tuition-costs-in-dismal-economy-working-students-and-families-pay-others-tuition-income-redistribution-unc-tuition-hikes-university-of-nc-system/

I have met and talked with many college students. Recently a UNCG student, who is struggling to support his family and attend school, confided in me that the recent tuition and health care increases (mandatory health care insurance almost doubled) could force him to leave school.

From Citizen Wells May 2, 2012.

“The UNC system began requiring students to be covered by health insurance in the fall of 2010. Students must either prove that they have their own insurance or buy a plan offered by the UNC system. Before that, 11 campuses required insurance; rates and coverage varied significantly among the schools.

On top of rising tuition and fees, those UNC system students who buy the university-sponsored health insurance plan will face steep premium increases in the next academic year.

The cost of health insurance will climb from a range of $61 to $77 monthly to a range of $118 to $133 monthly, according to a memo sent from UNC President Tom Ross to the UNC Board of Governors. On an annual basis, most students will pay about $500 to $700 more in 2012-13, depending on the campus.”

“Mallette said the insurance increases are due to the health care usage of UNC system students during the past couple of years, plus federal regulations on preventive care and pharmacy services issued in March. The process is complicated, he said, by the new provisions of the Affordable Care Act.”

https://citizenwells.wordpress.com/2012/05/02/obama-lies-work-on-unc-students-unc-student-health-care-increase-tuition-increase-high-unemployment-obama-uses-orwellian-language-to-sway-students-occupy-white-house/

From Citizen Wells July 27, 2012.

“Unemployment Rates Increase in 84 Counties in June”

“North Carolina’s statewide unemployment rate (not seasonally adjusted) was 9.9 percent in June. This was a 0.4 of a percentage-point increase from May’s revised rate of 9.5 percent, and a 1.0 percentage-point decrease over the year.

Over the month, the unemployment rate increased in 84 counties, decreased in 11 and remained the same in five. Thirty-nine counties had unemployment rates at or below the state’s 9.9 percent rate.”

“Guilford County, containing both Greensboro and High Point had an increase from 9.6 to 10.3 percent.”

https://citizenwells.wordpress.com/2012/07/27/nc-unemployment-rate-9-9-percent-june-data-unemployment-rates-rose-in-84-of-100-counties-mecklenburg-home-of-democrat-convention-rises-3-percent-to-9-9/

What evidence do we have that Obama had any student loans?

NC unemployment rate jumps to 9.6 percent, North Carolina fourth highest unemployment rate, 5 thousand more unemployed, Smoothed seasonally adjusted rate

NC unemployment rate jumps to 9.6 percent, North Carolina fourth highest unemployment rate, 5 thousand more unemployed, Smoothed seasonally adjusted rate

“North Carolina currently has the fourth-highest unemployment rate in the country and has stayed well above the national average through 2012.”…WRAL, August 17, 2012

“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011

“We tried our plan—and it worked. That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.”…Barack Obama

From WRAL News August 17, 2012.

“State unemployment rate could hurt Obama in NC”

“With less than a month before the Democratic National Convention in Charlotte, the unemployment picture in North Carolina worsened in July with the jobless rate increasing to 9.6 percent – the state’s first uptick in a year.

The unemployment rate stayed steady at 9.4 percent for the previous three months. The July rate is the highest since 9.7 percent in March. It is down from 10.7 percent a year ago.

However, with the state set to be showcased on a national stage, Republicans are ready to hand President Barack Obama the blame for rising unemployment.

“I can’t speak for other states, but here in North Carolina, I do think it’s going to definitely hurt the president and help Romney,” Tom Fetzer, the former chairman of the state Republican Party, said.

North Carolina currently has the fourth-highest unemployment rate in the country and has stayed well above the national average through 2012.”

“State-wide the number of people unemployed grew by just more than 5,000 at 444,694 from June.”

http://www.wral.com/news/local/politics/story/11442036/

The 9.6 percent is a “smoothed seasonally adjusted rate.”

The term smoothed reminds me of Metamucil.

From the North Carolina Department of Commerce.

“The North Carolina smoothed seasonally adjusted unemployment rate was 9.6 percent in July, increasing 0.2 of a percentage point from the previous month, and 1.1 percentage points lower than July 2011. Over the month, the number of persons unemployed increased by 5,321 (1.2%). The civilian labor force fell 8,412 (0.2%) to 4,646,975.”

http://www.ncesc1.com/PMI/Rates/PressReleases/State/NR_July_2012_StRate_M.pdf

The NC county unemployment rates for July 2012 will be released on August 24, 2012.

The June 2012 unemployment rates by county revealed that 84 of 100 counties had an increase in unemployment.

From Citizen Wells July 27, 2012.

“Unemployment Rates Increase in 84 Counties in June”

“North Carolina’s statewide unemployment rate (not seasonally adjusted) was 9.9 percent in June. This was a 0.4 of a percentage-point increase from May’s revised rate of 9.5 percent, and a 1.0 percentage-point decrease over the year.

Over the month, the unemployment rate increased in 84 counties, decreased in 11 and remained the same in five. Thirty-nine counties had unemployment rates at or below the state’s 9.9 percent rate.”

“Mecklenburg County, mostly consisting of Charlotte, NC, the site of the 2012 Democrat Convention, had an unemployment rate increase from May to June of .3 to a rate of 9.9 percent. Adjacent county to the west, Gaston, went from 10.2 to 10.9 percent.  Guilford County, containing both Greensboro and High Point had an increase from 9.6 to 10.3 percent.”

https://citizenwells.wordpress.com/2012/07/27/nc-unemployment-rate-9-9-percent-june-data-unemployment-rates-rose-in-84-of-100-counties-mecklenburg-home-of-democrat-convention-rises-3-percent-to-9-9/

Obama gas price facts August 6, 2012, Canadians embrace oil jobs, Canada unemployment rate falls to 7.2 percent, Canadians richer than Americans for first time

Obama gas price facts August 6, 2012, Canadians embrace oil jobs, Canada unemployment rate falls to 7.2 percent, Canadians richer than Americans for first time

“For the well-off in this country, high gas prices are mostly an annoyance, but to most Americans they’re a huge problem, bordering on a crisis.”…Barack Obama May 2008

“We can’t drive our SUVs and eat as much as we want and keep our homes on 72 degrees at all times … and then just expect that other countries are going to say OK,”…Barack Obama May 2008

“Because I’m capping greenhouse gases, coal power plants, you know, natural gas, you name it — whatever the plants were, whatever the industry was, uh, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers.”…Barack Obama 

Obama’s “energy policy”, aka Chicago style pay to play politics, is destroying this country’s economy and jobs. Citizen Wells has kept you informed about the impact of high gas prices.

From Citizen Wells July 29, 2012.

“Gas prices are going back up and currently average $ 3.49 in the US. One of the biggest reasons gasoline prices have not risen further is the downturn in the US and world economies.”

“In 2009 when Obama took office, gasoline averaged around $ 1.85 a gallon. Here is a chart of gasoline prices for the last 3 years.”

“The Obama administration, despite the nation’s economic woes, effectively killed the job-producing Keystone Pipeline last month. The Arab Spring is turning the oil production of Libya and other Arab nations over to the Muslim Brotherhood. Iraq is distancing itself from the U.S. And everyone recognizes that Iran, whose crude supplies are critical to the European economy, will do anything it can to frustrate America’s strategic interests. In the face of all of this, Obama insists on cutting back U.S. oil potential with outrageous restrictions.”

“Part of Obama’s apparent war against U.S. energy independence includes a foreign-aid program that directly threatens my state’s sovereign territory. Obama’s State Department is giving away seven strategic, resource-laden Alaskan islands to the Russians. Yes, to the Putin regime in the Kremlin.”

“After Obama Blocks Pipeline, China Readies $15.1B Canadian Oil Deal”

“When President Barack Obama blocked the Keystone Pipeline, Republicans said the move would encourage Canada to pursue oil deals with China instead of the United States and cede a massive chunk of North American oil assets to the communist nation.

Now, with China’s state-run oil company CNOOC poised to cut a $15.1 billion deal–the largest ever foreign acquisition for a Chinese company–with Canadian oil company Nexen, Sen. Charles Schumer (D-NY) and Rep. Nancy Pelosi (D-CA) are in full backpedal mode.”

https://citizenwells.wordpress.com/2012/07/29/july-29-2012-gas-prices-up-obama-energy-policy-rewards-friends-punishes-americans-alaska-island-giveaway-to-russians-keystone-pipeline-canada-china-oil-deal/

Not only are Obama’s policies stalling the economy with the high price of gas, they are killing jobs in the oil industry. Our friends to the north are not so foolish.

From the Wall Street Journal September 12, 2011.

“Canada’s Oil Sands Are a Jobs Gusher”

“For all its soaring rhetoric, President Obama’s “jobs speech” last week didn’t demonstrate a lick of insight into why economies grow or how wealth is created. It was merely trademark Obamanomics: using government diktat to move money that’s over here, over there.

Having spent an hour the day before with Ron Liepert, the energy minister from the Canadian province of Alberta, I found it especially disturbing to hear nothing in the speech about reversing the administration’s anti-fossil-fuels agenda. Canada has recovered all the jobs it lost in the 2009 recession, and Alberta’s oil sands are no small part of that. The province is on track to become the world’s second-largest oil producer, after Saudi Arabia, within 10 years. Meanwhile Mr. Obama clings to his subsidies for solar panels and his religious faith in green jobs.

U.S. unemployment is high because capital is on strike. Short-term offers to coax investors into taking new risks aren’t going to cut it when they have been forewarned that the president intends to pay for it all by raising taxes in the out years. The market dropped over 300 points the day after Mr. Obama’s speech.

On the regulatory front the picture is even gloomier. Much of America’s vast untapped energy potential lies dormant because Mr. Obama’s regulatory watchdogs have spent the past three years throwing sand in the gears of the permitting process for exploration and exploitation on federal lands. Separately, TransCanada has been trying since September 2008 to get a permit to build the Keystone XL pipeline from Alberta to the Gulf Coast. The Environmental Protection Agency has so far blocked it.

TransCanada’s Keystone XL pipeline could mean 118,000 American jobs, if the U.S. government ever issues the permit.

A glimpse of what all this has cost the U.S. economy can be seen by looking north to Canada, where animal spirits have been unleashed in the energy sector. Canada’s close economic ties to the U.S. have traditionally meant that when the U.S. gets the sniffles, Canada gets swine flu. This time it’s been different. Part of the reason is that Canada’s housing market was not poisoned by a federal government push to put unqualified borrowers into homes they could not afford. After the 2008 collapse of the housing bubble in the U.S., the Canadian financial sector remained strong.

That alone was not enough to protect Canada from the effects of the U.S. recession. The manufacturing sector was hit hard, and in the first quarter of 2009 the economy contracted by an annualized 7.9%.

Yet Canada has outperformed the U.S. since then. In 2010, according to the International Monetary Fund, Canada grew at 3.2% versus 2.9% in the U.S. In 2011, the IMF estimates Canada will grow at 2.9%; unemployment is now 7.3%. The IMF’s U.S. growth forecast is 2.5% this year, and U.S. unemployment is 9.1%.

One explanation for Canada’s more robust growth is its strong commitment to energy, which has become more valuable in U.S. dollar terms under Federal Reserve Chairman Ben Bernanke’s inflationary policies. Alberta is now producing two million barrels per day but expects that number will grow to four to five million within a decade.”

Read more:

http://online.wsj.com/article/SB10001424053111904836104576560933917369412.html

From US News  July 18, 2012.

“For the First Time, Canadians Now Richer Than Americans

The average Canadian household is worth about $40,000 more than their American counterparts”

“The net worth of the average Canadian household in 2011 was $363,202.
While Americans might enjoy throwing politically-charged barbs at their neighbors to the north, Canadians now have at least one reason to be smug.

For the first time in recent history, the average Canadian is richer than the average American, according to a report cited in Toronto’s Globe and Mail.

And not just by a little. Currently, the average Canadian household is more than $40,000 richer than the average American household. The net worth of the average Canadian household in 2011 was $363,202, compared to around $320,000 for Americans.

If you’re thinking the Canadian advantage must be due to exchange rates, think again. The Canadian dollar has actually caught up to the U.S. dollar in recent years.

“These are not 60-cent dollars, but Canadian dollars more or less at par with the U.S. greenback,” Globe and Mail’s Michael Adams writes.

To add insult to injury, not only are Canadians comparatively better-off than Americans, they’re also more likely to be employed. The unemployment rate is 7.2 percent—and dropping—in Canada, while the U.S. is stuck with a stubbornly high rate of 8.2 percent.

Besides a strengthening currency and a better labor market, experts credit the particularly savage fallout from the financial crisis on the U.S. economy and housing market, which torpedoed home values and gutted household wealth. According to the report, real estate held by Canadians is worth more than $140,000 more on average and they have almost four times as much equity in their real estate investments.”

Read more:

http://www.usnews.com/news/articles/2012/07/18/for-the-first-time-canadians-now-richer-than-americans

 

AP awarded 4 Orwells for Obama bias, Jobs data, Unemployment, Stronger job creation could help President Barack Obama’s reelection hopes??

AP awarded 4 Orwells for Obama bias, Jobs data, Unemployment, Stronger job creation could help President Barack Obama’s reelection hopes??

“I am convinced that if squirrels had opposable thumbs, that based on their superior intellect, they would be overqualified to be journalists in the mainstream media”…Citizen Wells

“If I had my choice I would kill every reporter in the world but I am sure we would be getting reports from hell before breakfast.”… William Tecumseh Sherman

“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″

Stronger job creation could help President Barack Obama’s reelection hopes.

Well duh, if we actually had stronger job creation and someone in the White House who gets it, and an honest media to report the facts, economic conditions in this country would improve and everyone would be happier.

But for the moment, we don’t.

From Breitbart August 3, 2012.

“AP: ‘STRONGER JOB CREATION COULD HELP OBAMA’S RE-ELECTION'”

“That headline is not made up, it comes from a quote from the very same Associated Press that just last week completely fabricated Mitt Romney’s Palestinian ‘gaffe’. Today the AP is spinning a rise in unemployment and a measly 165,000 jobs created as the kind of “stronger job creation” that could win Their Precious One reelection.

The writer of this nonsense is Christopher S. Rugaber and the shilling is nothing more than propaganda. Rugaber not only wrist-flicks the second uptick in unemployment in just a few month, he tries to pretend the increase is statistically meaningless.

Emphasis mine:

Stronger job creation could help President Barack Obama’s re-election hopes. Still, the unemployment rate has been above 8 percent since his first month in office — the longest stretch on record. No president since World War II has faced re-election with unemployment over 8 percent. …

The government uses two surveys to measure employment. A survey of businesses showed job gains. The unemployment rate comes from a survey of households, which showed fewer people had jobs. Economists say the business survey is more reliable.

Not that any of this surprises me, but watching the media hit new low after new low is nonetheless amusing.

In my lifetime, this is without a doubt the first time the media has ever celebrated a rise in the unemployment rate as a good thing.

Drudge was the first to find this AP story and includes the rare comment on his site:

THEY BOTH CANT BE RIGHT:

Reuters: Labor market slowed sharply after strong gains in winter, spelling trouble for Obama…

AP: Stronger job creation could help Obama’s re-election hopes…

And it’s only August.”

http://www.breitbart.com/Big-Journalism/2012/08/03/AP-Says-Unemployment-increase-good-for-obama

On August 3, 2012 the US Labor Department reported the following:

Total nonfarm payroll employment rose by 163,000 in July.

The unemployment rate is 8.3 percent.

The labor force participation rate is 63.7 percent.

http://www.bls.gov/news.release/empsit.nr0.htm

The unemployment rate rose .1 percent in July and .1 percent dropped out of the labor force. Those are large numbers of people not employed. Do the math.

On August 2, 2012 the US Labor Department reported the following:

“In the week ending July 28 the advance figure for seasonally adjusted initial claims was 365,000, an increase of 8,000 from the previous week’s revised figure of 357,000. The 4-week moving average was 365,500, a decrease of 2,750 from the previous week’s revised average of 368,250.”

http://www.dol.gov/opa/media/press/eta/ui/current.htm

Using the 4 week moving average of 365,500 times 4, we get a general idea of jobs lost during July.

From the the US Labor Department.

“What do the unemployment insurance (UI) figures measure?

The UI figures are not produced by the Bureau of Labor Statistics. Statistics on insured unemployment in the United States are collected as a by-product of UI programs. Workers who lose their jobs and are covered by these programs typically file claims (“initial claims”) that serve as notice that they are beginning a period of unemployment. Claimants who qualify for benefits are counted in the insured unemployment figures (as “continued claims”). Data on UI claims are maintained by the Employment and Training Administration, an agency of the U.S. Department of Labor, and are available on the Internet at: workforcesecurity.doleta.gov/unemploy/claims.asp.

Some countries base their estimates of total unemployment on the number of persons filing claims for or receiving UI payments or the number of persons registered with government employment offices as available for work. These data are also available in the United States, but they are not used to measure total unemployment because they exclude several important groups. To begin with, not all workers are covered by UI programs. For example, self-employed workers, unpaid family workers, workers in certain not-for-profit organizations, and several other small (primarily seasonal) worker categories are not covered.

In addition, the insured unemployed exclude the following:

  1. Unemployed workers who have exhausted their benefits
  2. Unemployed workers who have not yet earned benefit rights (such as new entrants or reentrants to the labor force)
  3. Disqualified workers whose unemployment is considered to have resulted from their own actions rather than from economic conditions; for example, a worker discharged for misconduct on the job
  4. Otherwise eligible unemployed persons who do not file for benefits

Because of these and other limitations, statistics on insured unemployment cannot be used as a count of total unemployment in the United States. Indeed, during 2008, only 36 percent of the total unemployed received UI benefits. The weekly data on UI claims do have important uses, however, and provide a timely indicator on labor market conditions.”

http://www.bls.gov/cps/cps_htgm.htm#ui

The AP, Associated Press, is awarded 4 Orwells for their pro Obama bias and attempt to misrepresent the unemployment situation with the jobs added. The reason the AP did not receive 5 Orwells is because they included the unemployment rate.

Ben Bernanke Federal Reserve gloomy forecast, August 1, 2012, US economy decelerated, Disappointing jobs reports and sharp slowdown in US growth

Ben Bernanke Federal Reserve gloomy forecast, August 1, 2012, US economy decelerated, Disappointing jobs reports and sharp slowdown in US growth

“The United States economy has lost more jobs than it has added since the recovery began over a year ago.”…NY Times Sept. 20, 2010.

“We tried our plan—and it worked. That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.”…Barack Obama

“Because I’m capping greenhouse gases, coal power plants, you know, natural gas, you name it — whatever the plants were, whatever the industry was, uh, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers.”…Barack Obama

From the Guardian August 1, 2012.

“Fed gives gloomy forecast on US recovery but no new stimulus yet”

“Fed chairman Ben Bernanke has consistently said that he is not ruling out direct action in the event of a stalling economy. Photograph: Karen Bleier/AFP/Getty Images
The US Federal Reserve signalled on Wednesday that it is increasingly worried about America’s fragile economic recovery – but once more stopped short of taking direct action.

After a two-day meeting, Fed officials said the economy had “decelerated somewhat” over the first half of the year, and gave a stronger signals they may take further action as they keep a close watch on the US recovery.

Weakness in the US economy has been underlined since the last Fed meeting by disappointing jobs reports and a sharp slowdown in US growth, which had led to speculation that the Fed might act. After two days of falls US stock markets had rallied ahead of the statement as investors expected action. But the Dow Jones turned negative when it became clear no action would be forthcoming.

“The committee will closely monitor incoming information on economic and financial developments, and will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability,” the central bank said in a statement issued at the end of the Federal open market committee’s (FOMC) two-day policy meeting.

Fed chairman Ben Bernanke has consistently stated that the Fed is considering further action should the recovery appear to be stalling.

There were fresh signs of weakness on Wednesday as a key poll showed economic activity in the manufacturing sector contracted in July for the second month in a row after 34 consecutive months of expansion. The Institute of Supply Management’s purchasing managers index (PMI) – which measures the acquisition of goods and services – stood at 49.8% in July, barely moving from June’s reading of 49.7%. The index must be above 50% to indicate growth.

Dan Greenhaus, chief global strategist at BTIG, said the Fed was “clearly on a knife’s edge with respect to providing additional stimulus”. Fed statements are parsed line by line for indications of change in policy.

In a note to clients, Greenhaus wrote: “Importantly, the first sentence in the FOMC statement, which noted in June that ‘the economy has been expanding moderately this year’ now says that ‘economic activity decelerated somewhat over the first half of this year.’

“They note that ‘household spending has been rising at a somewhat slower pace than earlier in the year’ while ‘inflation has declined since earlier this year.’ All told, the Fed clearly took down its assessment of the current economic situation.”

Ken Goldstein, an economist at the Conference Board in New York, said the Fed was in a fix. Republicans have already criticised the Fed’s actions and are likely to pounce on any action from the Fed ahead of November’s election.
“This is going to get increasingly political as the election approaches,” Goldstein said.

Goldstein said the economy seemed to be “muddling along rather than falling off a cliff,” and that he believed the Fed was unlikely to act unless evidence of a severe weakening in the US economy emerged.

With economy emerging as the key battleground of the 2012 election, economic indicators have seldom been more closely watched. Last week the commerce department announced that US gross domestic product (GDP) – the broadest measure of an economy’s health – stood at 1.5% in the second quarter, down from 2% in the prior three months, and 4.1% in the fourth quarter of 2011.”

Read more:

http://www.guardian.co.uk/business/2012/aug/01/fed-us-recovery-stimulus?newsfeed=true

July 21, 2012 Obama economy and jobs bleak, 27 states recorded unemployment rate increases, Black unemployment up 1.4 percent in 2 months, NC rate suspect

July 21, 2012 Obama economy and jobs bleak, 27 states recorded unemployment rate increases, Black unemployment up 1.4 percent in 2 months, NC rate suspect

“The United States economy has lost more jobs than it has added since the recovery began over a year ago.”…NY Times Sept. 20, 2010.

“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011

Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

The Obama camp is using every opportunity to divert attention away from the dismal economy and jobs situation. Even the mainstream media has made note of the lies Obama has told about Mitt Romney. The stated unemployment rate in NC is 9.4 percent and that looks suspect, even accounting for historic low labor participation rates.

Doug Clark of the Greensboro News Record of the Greensboro News Record stated yesterday:

“North Carolina loses or gains jobs in June, depending on which state numbers you believe, if any”

“North Carolina lost nearly 8,000 jobs in June from the previous month, the state’s Commerce Department reports this morning.”

“The unemployment rate held at 9.4 percent, but that was because the labor force decreased.”

“Here’s a BLS explanation (sort of) of smoothing. Obviously, this statistical maneuvering makes a significant difference. In the state’s numbers, we either have fewer people working but are gaining jobs, or have more people working but are losing jobs.

Please weigh in on the credibility of these numbers.”

https://citizenwells.wordpress.com/2012/07/20/north-carolina-loses-or-gains-jobs-in-june-depending-on-which-state-numbers-you-believe-if-any-july-20-2012-greensboro-news-record-doug-clark/

On Thursday, July 19, 2012, the US Labor Department reported initial claims were up 34,000 from the prior week to  386,000. 20 states had an increase of 1,000 or more. NC was one of those states.

http://www.dol.gov/opa/media/press/eta/ui/current.htm

On Friday, July 20, 2012, the US Labor Department Regional and State Employment and Unemployment Summary reported:

The national jobless rate, at 8.2 percent.

Twenty-seven states recorded unemployment rate increases.

“In June 2012, 11 states recorded statistically significant over-the-month changes in employment, 8 of which were increases and 3 of which were decreases. The largest statistically significant job gains occurred in California (+38,300), Ohio (+18,400), and North Carolina (+16,900).”

Note from the Greensboro News Record report:

“North Carolina lost nearly 8,000 jobs in June from the previous month, the state’s Commerce Department reports this morning.”

Citizen Wells: I smell a rat. A NC Democrat Convention rat.

Also significant from the report are the following unemployment increases from April to June 2012.

Blacks: From 13.0 to 14.4 percent.

Asians: From 5.2 to 6.3 percent.

Hispanics: From 10.3 to 11.0 percent.

North Carolina loses or gains jobs in June, depending on which state numbers you believe, if any, July 20, 2012, Greensboro News Record Doug Clark

North Carolina loses or gains jobs in June depending on which state numbers you believe if any, July 20, 2012, Greensboro News Record Doug Clark

“The United States economy has lost more jobs than it has added since the recovery began over a year ago.”…NY Times Sept. 20, 2010.

“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011

Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

From Doug Clark of the Greensboro News Record July 20, 2012.

“North Carolina loses or gains jobs in June, depending on which state numbers you believe, if any”

“North Carolina lost nearly 8,000 jobs in June from the previous month, the state’s Commerce Department reports this morning.”

“The unemployment rate held at 9.4 percent, but that was because the labor force decreased.

These are “smoothed” seasonally adjusted numbers.

The picture is more positive year over year, according to the Commerce news release:

“Since June 2011, Total Nonfarm jobs gained 37,000 with the Service Providing sector increasing by 38,600 and the Goods Producing sector decreasing by 1,600. The largest over-the-year increase of major industries was in Government at 13,000, followed by Education & Health Services, 12,100 and Trade, Transportation and Utilities, 9,400.”

In case you missed it, the largest increase in employment was in government … Contrary to claims of public payroll slashing.

Unfortunately, a gain of 37,000 jobs in the past year is anemic. And now we’re slipping. Obviously, this is not an encouraging report for our state.

Note: There are two sets of numbers in the report. You will see some media reports stating the state gained 16,690 jobs in June.

The news release contains these statements:

“Seasonally adjusted Total Nonfarm industry employment, as gathered through the monthly establishment survey, increased by 16,900 to 3,963,100 in June.”

And:

“The number of people employed (smoothed seasonally adjusted) decreased by 7,909 to 4,216,644 over the month …”

Here’s a BLS explanation (sort of) of smoothing. Obviously, this statistical maneuvering makes a significant difference. In the state’s numbers, we either have fewer people working but are gaining jobs, or have more people working but are losing jobs.

Please weigh in on the credibility of these numbers.

Addendum: Please see economist Dave Ribar’s helpful explanation in the comments below.”

http://www.news-record.com/blog/54431/entry/148571

Thank you Doug Clark for this factual, reality based reporting.