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February 21, 2013

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16 COMMENTS; the most I've seen. Some of us are getting nervous. Some probably should be and are not. The Republican Party has again closed it's doors; as it did during the Convention. This time, regardless of performance, Christi has gotten the 'shaft'. His ACT OF DISHONOR has past. Let's forget it. Christi is one of maybe two outpoken speakers the party has. In the event you are not nervous by now; that should do it. CPAC and the White House need leadership, desperately.

IRAN thinks talks are going well. So far they ahve agreed to nothing. In the meantime the west has proposed to remove some sanctions. Iran concluded this round by saying that the west must remove sanctions and agree to allow Iran to enrich uranium to 20%. Also they have refused to ship their enriched uranium out of the country and to stop enriching uranium underground. The next round of talks is March followed by another ound in April. These discussions began in 2006. So as Iran moves closer and closer to weapons grade enriched uranium the west moves closer and closer to reducing the sanctions. These issues seem to disappear into the cloud without an election on the horizon.

ILLEGALS are being arrested in the Tucson sector of the border at a rate of between 200 and 400 a DAY. A race to get in before the immigration bill passes with its amnesty provisions. Border security? Oh yeah, $9/hour might be a magnet as well.

FED SAYS 2016--to get to unemployment target of 6.5%. For any of you small business owners who can survive it that means $4 Trillion of more money out there to try to get a peice of. That would mean that under Obama the money in circulation would have been increased through printing from $800B to $6.7 Trillion and according to Fed Chief we will not have any appreciable inflation. That makes it probable that the debt of the US by the time Obama leaves office will be around $20 Trillion on Treaury books and $8 Trillion on the Fed books. A total of $28 Trillion dollars. If by then long term interest rates return to a simple 4% the annual interest on the debt will be $1.12 Trillion. What a great financial strategy this administration has given us. No wonder the stock market cannot stop going up. A 2008 dollar will be worth about 12 cents by that time.

NEW FINANCIAL INTERPRETATION TEXTS FOR 2013 ? A MUST ! Hopefully Duncan (Educ. Secretary) will get to work on new Financial Arithmetic and Dictionary books for the Obamanomics generation. Do not doubt it. To be surfacing in a school district near you.
UNCLE BEN's BIZ SCHOOL (all new) Student Dictionary ? How about Tim Geithner and Rubin's Text on THE ARITHMETIC OF DISAPPEARING DERIVATIVES ? We'll have former 'CFTC' Chair (Rubin had Clinton Fire her), Brooksly Born, to review it.

HOUSING STATS: be careful what your hear. Yesterday new home sales come out up 15% over January of last year. And,any sales going up in this environemtn is good. However, as with political arguments which often focus on percentages so it goes in economics. The easiest example is that if your stock price falls 50% then it must go up 100% to be back to even. So any rate of change going down is less than the rate of change going up.

NEW HOME SALES are currently at the same level they were in 1990. In 2006 or so the new home single family sales peaked around 300% above today's levels. The fact that they went up 15% is ggod but not spectacular. Keep in mind that New home Prces fell at the same time 9%. And, inventory of new homes on the market fell from 2 Million to 1.6 million. I point this out because it shows that construction of new homes is meeting the headwinds of lower profits and margins. SO, while there are encouraging signs all is not rosy.

ALL's WELL WITH THE FED: It's all going ok says the FED chief. I listened to him today and I certaninly was convinced that his strategy of putting off cutting government spending for another decade will work out fine. All we do is keep on printing until unemployment gets below 6.5%. It's all the way down to 7.9% now. and, just before his talk JPM announced another 4000 cuts in employment this year and 14,000 next year. All in America. So, when will we make that 6.5% marker? 2014? That's another $1 Trillion in circulation. 2015? $2 Trillion more. Let's see--in other news today the Italian people voted to have no leadership as they try to deal with their $3 Trillion debt. Italy has the third largest debt in the WORLD. And, no leadership. Why don't we just have the FED print $3 trillion and eliminate their debt? That way the stock market wouldn't have to worry about an Italian default. The Japanese Yen being printed as fast as presses can run STRENGTHENED today against the Euro on the Italian news. Yep everything is great--just print away!

CALIFORNIA TURNS TO OIL: without much fanfare California oil shale estimated to be the largest reserve in the country with 8 Billion barrels is perhaps on the edge of being exploited. And on Federal lands!! Horrors. It is said that 10 test wells have been drilled on the Federal lands to test the use of fracking technology to unleash the oil. And, now that the news is out the California environmentalists are on the offensive. Perhaps Bill will give us the latest on this intiguing news as the story unwinds. And, perhaps California will return to state of reason.

NORMAN MATTOON THOMAS (Nov 20 1884-Dec 19 1968), 6 time Socialist Presidential Candidate in the USA. Said this in a 1944 speech......

"The American People will never adopt Socialism; but under the name 'LIBERALISM', they will adopt every fragment of Socialist Programs. Until one day, America will be a Socialist Nation and will not know how it happened. I no longer need to run as a Candidate for the Socialist Party. The Democratic Party has adopted our Platform."
Today, some 'sound' Democratic Party programs could be advanced much easier and economically safer without this Socialist Avalanche of destructive schemes.

DOCUMENTS: Search for Fla. Port St Lucie Voter Tally Sheet as described was gone from the Election Commission Website. On the evening of Nov 6, however it was posted. I personally saw "182% of the 'Registered Vote" had turned out." The sheet was read on FOX that evening . A Utube may yet be available.
Search to whatever depth of satisfaction may be required on the following (it is everywhere):(1) 59 Precincts in Phila and 9 in Ohio all reported '0' opposition vote in an area with at least 20% opposition registered voters. (2)14 States passing INDICTMENTS charging Acorn (to which this President served as Councel)with voter Fraud. (3) Military Absentee Votes in the tens of thousands,lost.

The Atty General of the US claims "no serious threat to the Vote Integrity exists and therefor does not justify 'Voter ID'."

DickG -
These are just anecdotes. Where is this documented? Or these urban myths?

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