Archive for June 2010
Maybe there was never a recovery at all. Our store sales have collapsed again. Down 4% from last year. A year that was atrocious at best.
Patti and I had our hours cut by 7 next week. Hope that’s all.
The following is an excerpt of the Weekly Market Commentary By John Hussman.
Based on evidence that has always and only been observed during or immediately prior to U.S. recessions, the U.S. economy appears headed into a second leg of an unusually challenging downturn.
A few weeks ago, I noted that our recession warning composite was on the brink of a signal that has always and only occurred during or immediately prior to U.S. recessions, the last signal being the warning I reported in the November 12, 2007 weekly comment Expecting A Recession. While the set of criteria I noted then would still require a decline in the ISM Purchasing Managers Index to 54 or less to complete a recession warning, what prompts my immediate concern is that the growth rate of the ECRI Weekly Leading Index has now declined to -6.9%. The WLI growth rate has historically demonstrated a strong correlation with the ISM Purchasing Managers Index, with the correlation being highest at a lead time of 13 weeks.
Why fuck around. They wear towels on their heads for God’s sake. Yea, fuck them up good. Teach them a lesson for getting between us and all their oil. Next thing you know one of them will get elected president, then what? (lol)
Cal Thomas, who backed Bush’s wars to the hilt, says that “victory” can be achieved “… if the U.S. prevails in Afghanistan by establishing a sustainable democratic government that is relatively free of corruption (a herculean task) and can be converted from an opium-based economy to one that can take advantage of its enormous mineral resources.
“To win in Afghanistan, and make such things possible, our ‘rules of engagement’ must change. American casualties have increased because of self-imposed restraints when encountering Taliban who hide behind civilians. You can’t win a war by hesitating when the enemy is at a disadvantage. To paraphrase a familiar admonition: Grab them by their throats and their hearts and minds will follow.”
So with Cal’s Christian blessing, more violent and corrupt nation-building will never quite erase Afghanistan’s culture of corruption — which means that the occupation will last forever . Brazenly killing more civilians will not bring peace, but unfathomable horror, which the Moslem victims will now recognize (on Cal’s authority) as a Christian tactic. Expropriating Afghanistan’s natural resources through billion-dollar deals with corruptos like Karzai is theft, but apparently OK because the empire’s Mother Country will profit. God Bless the USA!!!
Callous Cal’s version of the Gospel reads like it was written in Big Brother’s Ministry of Truth.
Why is it up to the South Dakota Supreme Court has nothing better to do?
I guess the cops will just have to stop every car at the border and make sure you don’t have more than your quota.
How many cats is a person legally allowed to let roam the inside of his or her car while they travel the country?
The South Dakota Supreme Court weighed in on that very issue last week, setting the bar somewhere below 15.
The state’s highest court ruled — in a case titled State of South Dakota v. Fifteen Impounded Cats — that a police officer acted correctly in August when he seized the aforementioned 15 felines from a vehicle belonging to Patricia Edwards.
Tell me again why anyone pays attention to these guys. The “experts”, picked out by the media, I guess, haven’t a clue. Just what is so hard to understand that we are broke and need a breather to pay off debts. Unemployed broke dicks can barely buy food let alone buy houses. This is not going away.
Expect more bailouts as the Dems get their asses kicked in the polls. Soon enough Repubs will join them as their money bags on Wall Street get nowhere as the economy goes flat. This will be the pattern as the government has to prop up consumer spending or face being booted down the road.
But the next boom is coming. A trillion here and a trillion there eventually hits home and the average guy finally joins the party because they can’t save jack shit and need handouts to buy Chinese trinkets here at Walmart and buy food at Micky D’s. Whether we survive the boom remains to be seen. No other Empire has done it.
I wouldn’t want to be living in Ayatollah country over the next ten years or so. They’ have a targets printed in capital letters spelled OIL found here.
Sales of previously owned homes fell unexpectedly in May as delays in processing mortgage applications hampered the closing of contracts benefiting from a popular homebuyer tax credit, an industry group said on Tuesday.
The National Association of Realtors said sales fell 2.2 percent month over month to an annual rate of 5.66 million units from an upwardly revised 5.79 million-unit pace in April.
Analysts polled by Reuters expected May sales to rise 5.5 percent to a 6.12 million-unit pace from the previously reported 5.77 million units in April. Sales were up 19.2 percent compared to May last year.
Nah! Told you so would be more like it. Hard to be surprised that anything that happens in Washington is being done for the honest working stiff. But we must not worry Oba mama will get “reelected”. Of course, hardly anbody not on the take would ever vote again. That leaves gangsters, corporate welfare assholes, misguided minorities, baby killers, airhead Hollywood has beens and bimbos, assorted nut jobs on the political left, and God knows what else will crawl out of the ooze to reap the benefits of sleaze that is occuring right under their silly noses.
As I’ve been posting right along, the Empire reeks and will die a slow death as these greedy bastards willy nilly murder more and more little brown people who wear towels on their heads because we can’t drill our own vast reserves of oil. Then again, maybe the nuke goes off about Christmas 2012 and puts an end to it.
It seems incomprehensible that the president and other members of the administration still have jobs when it is now being reported that the federal government was apprised by BP on February 13 that the Deepwater Horizon oil rig was leaking oil and natural gas into the ocean floor.
In fact, according to documents in the administration’s possession, BP was fighting large cracks at the base of the well for roughly ten days in early February.
Further it seems the administration was also informed about this development, six weeks before to the rig’s fatal explosion when an engineer from the University of California, Berkeley, announced to the world a near miss of an explosion on the rig by stating, “They damn near blew up the rig.”
Now let’s see…. there was no public dissemination of this information, was there? Well, no.
And yet we know that:
According to regulatory filings, RawStory.com has found that Goldman Sachs sold 4,680,822 shares of BP in the first quarter of 2010. Goldman’s sales were the largest of any firm during that time. Goldman would have pocketed slightly more than $266 million if their holdings were sold at the average price of BP’s stock during the quarter.
We also know that:
Tony Hayward cashed in about a third of his holding in the company one month before a well on the Deepwater Horizon rig burst, causing an environmental disaster.
The latter article also says:
Walmart destroys communities, marriages, the environment, the planet, fucks up small town America, wipes out mom and pop rip off joints, etc etc. The one thing it it does that no one mentions is pump billions into the local communities in taxes and wages.
But who’s counting!
There are a lot of mom and pop retailers out there, across America, and some that are a bit bigger than that. Local or regional chains give little towns and big cities some of their local charm. I feel bad when I see these operations fail to adapt to the arrival of the Wal-Mart gorilla. And this is true not just in the Wal-Mart market sector, but in many others as well. Traditional hardware stores that survive the arrival of Home Depot or Lowe’s do so because they are providing either levels of service or inventory that the big-box home improvement stores don’t. If I need black oxide button head 8-32 1.25” long machine screws on a Saturday, I go to the Ace Hardware store in Eagle, Idaho, because they have it. Home Depot doesn’t.
Still, for all the tears over the loss of some traditions of American retailing, it’s important to remember that Wal-Mart’s efficiency and ruthless paring of costs to the bone benefits consumers — even consumers who aren’t shopping at Wal-Mart. Wal-Mart’s prescription program provides an astonishing number of the most commonly prescribed drugs for $4. That’s less than the health insurance copayment for many of these drugs at traditional pharmacies.
It’s not like we have a choice. Drill or starve, baby! Let’s not forget that every politician for the last 40 years have pontificated on getting us off “foreign oil”. They all had great ideas, except find it here, of course.
When I was a newly wed the country allowed BP and several other oil companies to drill the Alaskan north slope and for 35 years or so it worked pretty good. But the religious fanatics in the environmental movement worked their voodoo on Congress and sold us down the river trying to get everyone setting up windmills in their back yard. (Except for the environmentalist backyards, of course.)
But not to worry the next president will get us off foreign oil, even if he has to invade Iran. Or something. It seems to me, though that we keep getting congenital liars elected.
Just check out the last 8 presidents we’ve had. Oh yeah, maybe we need to buy a better class of gangsters is all. The ones we keep getting are a little long on the tooth. Have you noticed we keep getting the same old shit from these guys and somebody keeps voting for them but no one will admit it.
Hell even the welfare queens who get fee money won’t vote for these clowns. Makes you wonder about our system. doesn’t it.