Archive for October 2008
Click on it for the picture.
Only in Alaska ……. This guy raised an abandoned moose calf with his horses, and believe it or not, he has trained it for lumber removal and other hauling tasks. Given the 2,000 pounds of robust muscle, and the splayed, grippy hooves, he claims it is the best work animal he has. He says the secret to keeping the moose around is a sweet salt lick,although during the rut he disappears for a couple of weeks, but always comes home…. impressive!
Short lived until the boomers retire over the next 10 years and cash out their stocks. Currently it’s the law. By the age of 70 401 k’s have to be liquidated. Doesn’t matter if they change the law, we are broke and don’t have enough new taxpayers. So, we need to import Mexicans to pay for our Social Security. Better bone up on your Spanish, amigo.
Up here in Idaho we have guns to eat with. What have you got. Obanomics?
Oct. 31 (Bloomberg) — U.S. consumer spending tumbled in September and a purchasing managers’ survey showed the biggest deterioration since 1968, foreshadowing a deepening economic slump.
“Consumers have thrown in the towel,” said Nariman Behravesh, chief economist at IHS Global Insight in Lexington, Massachusetts, who correctly forecast the drop in purchases. “They have no choice but to cut back on spending in a very big way. This is going to be a fairly deep, long recession.”
The 0.3 percent drop in purchases matched the biggest slide in four years and followed no change in August and July, the Commerce Department said today in Washington. The Institute for Supply Management-Chicago said its business index fell to 37.8 this month, below all 58 estimates in a Bloomberg News survey.
Job losses, increases in food and fuel costs and falling property values brought an end to the longest expansion in spending on record and made the economy the most important issue in next week’s presidential election. The collapse in lending and sentiment this month indicate Americans will keep retrenching.
Today’s Commerce Department report also showed that the Federal Reserve’s preferred measure of inflation cooled last month. Receding price pressures mean the Fed has “more room to maneuver” with interest rates, Behravesh said. San Francisco Fed President Janet Yellen said yesterday policy makers may cut the key rate close to zero percent should the economy remain weak.
Labor Department figures showed separately that employment costs rose 0.7 percent in July to September, the same pace as the previous two quarters. That’s a sign that rising unemployment is stifling gains in wages and benefits.
We are broke. Can’t get moola from broke people. Our savings have disappeared in a spasm of greed and fear on the great gambling hall called the stock market. All we will be able to do is sell off what’s left to the highest bidder. Obie has to win to save the clowns that got us in to this mess. He’ll have to dismantle our military. No where else is any money left. Everything else is untouchable i.e. Social Security, Medicaid, Welfare for his voters, pork for dem’s in Congress, etc.
Mac faces the same problems except his constituents are the military. Congress will belong to the socialists so he get’s nothing done except inflate the currency as a compromise or watch millions lose everything they have in the coming Depression and face a third party revolution.
Expect war in the streets as Obie’s supporters smell the election was stolen from their Lord. I ‘ll stay up here in Walmart Heaven idaho.
Speaking of Pat Buchanan yesterday….
PJB: Comrade Obama?
By Patrick J. Buchanan
If Barack Obama is not a socialist, he does the best imitation of one I’ve ever seen.
Under his tax plan, the top 5 percent of wage-earners have their income tax rates raised from 35 percent to 40 percent, while the bottom 40 percent of all wage-earners, who pay no income tax, are sent federal checks.
If this is not the socialist redistribution of wealth, what is it?
A steeply graduated income tax has always been the preferred weapon of the left for bringing about socialist equality. Indeed, in the “Communist Manifesto” of 1848, Karl Marx was himself among the first to call for “a heavy progressive or graduated income tax.”
The Empire is capitalism. Enforced by the American military and financed originally by the American, and now the world’s, consumer. The ruling elites who control the political process could care less their or your nationality. As long as world trade is unimpeded you and I can do pretty much believe what we want. But just try to vote for a Ross Perot or Pat Buchanan and see how far you get standing in their way.
Personally, I believe someone has to control it. Imagine a world with out peaceful trade and you get the 1930’s all over again. Conflicts between trading parties have to be settled at the upper levels because we all have nukes. Unfortunately, xenophobia keeps rearing it’s head and threatening the status quot.
1. The End of American Empire
Right now America is as addicted to empire as any inner-city crackhead to cocaine. We support the world’s most bloated military, with troops and bases in more than a hundred countries, in order to enforce a global economic order that allows the 5% of the world’s people who live in the United States to use roughly a third of the world’s resources. At the same time, empires are costly pets, and ours – like every other empire in history – is becoming an economic burden our nation can no longer support; at the same time, the drastic decrease in US living standards that would follow the end of American empire is a political time bomb nobody wants to touch. Caught in that dilemma, the United States seems determined to follow the usual course of past empires, allowing its imperial commitments to drag it down.
A depression, however, would force the issue. In the midst of economic collapse, the United States would be no more able to maintain a global military presence than Russia was after its own collapse. The troops would have to come home – not just from Iraq and Afghanistan, but from the whole far-flung web of US military bases – and resources now being drained by the incubus of empire would be available for more constructive tasks, such as preparing for the onset of peak oil.
You ain’t seen nothin yet. My generation will start taking money out of the stock market over the next few years to pay their over priced houses and other bills. The boomers are collectively broke. We have to look at a few facts to get some answers.
First of all it’s the affordability index that matters. When I sold and bought real estate in the late 80’s-, most people could afford a house around 80000 (payments of 450) on the median income of 24000. When this crisis began to develope in 2005-2006 the avg median household was closer to 44000. (Now you it’s gone up to around 52000 .) Who amoung us making this much money can afford 2100 per mo. for a avg. house in California, Florida, or Arizona? let alone come up with 60000 for a down payment. Now throw in 500 for or more for cars, 250 for credit cards and add nutso gas prices? No one in their right mind would give these people more credit now that their piggy bank of a house they bought is upside down in value!
Let’s just say that we ran out of suckers. Proof is in the stock market crash-down 40 % over a years time. The market ran out of buyers when speculation developed in oil futures and currency trading. Where else could all those trillions go when the debt parade hit a ditch. Fortunately we have a chance of benefiting from it. During depressions people who saved and increased their credit limits bought everything for pennies on the dollar. But wait. We are early in the cycle. Read my first paragraph. Until we collectively change our spend and borrowing ways, well……
What happens when interest rates hit zero or negative 1? Every thing booms again. Are you ready? All those trillions of printing press money has to go some where. Last time 2003-2004 it went into real estate and stocks. In Sept. 2001 that down dropped to approximately 8500. It just , after 7 years , hit that mark again this week. Are you getting the idea.
Hey, it’s not over until it’s over.
Wait until we discuss credit cards. Weee!!!!
NEW YORK (CNNMoney.com) — Governments and central banks of the world’s leading nations have taken unprecedented coordinated actions in the past month to help out battered financial markets and economies around the globe.
Yet, the global meltdown in stocks continued Friday. And this lack of confidence and sense of panic has left experts wondering what can be done next to assure investors and get banks to operate normally once again.
Don’t say you weren’t warned.
Obama Campaign Threatens Legal Action Over NRA Ads
Fairfax, VA-Sen. Barack Obama’s presidential campaign has sent threatening letters to news agencies in Pennsylvania and Ohio to stop airing ads exposing his anti-gun record sponsored by the National Rifle Association Political Victory Fund (NRA-PVF).
The kicker? NRA-PVF’s Ohio’s ads have not yet begun running.
“Barack Obama and his campaign are terrified of the truth,” declared Chris W. Cox, Chairman of NRA-PVF. “Sen. Obama’s statements and support for restricting access to firearms, raising taxes on guns and ammunition and voting against the use of firearms for self-defense in the home are a matter of public record. NRA-PVF will make sure that everyone knows of Obama’s abysmal record on guns and hunting.”
The Obama campaign sent cease and desist letters to news outlets in Pennsylvania and Ohio, denouncing the ads and demanding their removal from the airwaves. All stations where NRA-PVF has purchased or plans to purchase ads have been provided with documented evidence of Sen. Obama’s anti-gun record.
A new religion has arrived in the last couple of decades. Starting with Rachel Carson’s” “Silent Spring” It’s taken on a huge movement even in Psychiatry. But the big news is that it is “Big Business”. Nothing like that old religion putting money in your pocket.
Easiest Way to Green: Buying to Save the Planet
Porter Novelli, then, helps international corporations figure out how to turn consumers’ climate fears into increased corporate profitability through “green” purchases. They do this by defining what is “green,” and how “green” someone is:
To determine this, they asked people whether they thought any of these actions were important to protect the environment and whether participants actually acted on any of these actions: (1) buying energy-efficient appliances, (2) buying environmentally-friendly products, (3) buying products made from recycled paper or plastics, (4) using cloth bags to put what you buy into, or (5) buying products that use less packaging. One choice involves “not buying” as a way of punishing companies with bad environmental records, while another option was “recycling–” what’s already been “bought.” Two other choices include “not buying stuff, or at least buying a lot less” and using “less energy at home.”