Archive for November, 2011

Initial Claims for Unemployment remain below 400,000, BARELY…

November 23, 2011

This week will be a quick one….

Last week I said:

“This week I will bet that the TRUE number is STILL ABOVE 390,000 at 391,000.”

And this week the report is (from CNBC):

“Initial claims for state unemployment benefits climbed to a seasonally adjusted 393,000 from an upwardly revised 391,000 in the prior week, the Labor Department said on Wednesday.”

And from FoxNews:

“The Labor Department says weekly applications for unemployment aid rose 2,000 to a seasonally adjusted 393,000.”

That makes ANOTHER PERFECT estimation on my part, and ANOTHER UPWARD revision to the Propaganda Labor Department.  Here is another quote from CNBC:

“Economists polled by Reuters had forecast claims rising to 390,000 from the previously reported 388,000.”

If Reuters would like to hire me as a consultant, I can make BETTER forecasts!!!

Another quote from FoxNews:

“Even so, weekly applications would need to stay below 375,000 consistently to push down the unemployment rate significantly.”

They still have not answered my question about the 375,000 number………or is it 350,000???

I will wager that this weeks number gets REVISED UPWARD to 395,000.  Any takers?

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Initial Claims for Unemployment FINALLY remain below 400,000…

November 17, 2011

Initial Claims for Unemployment FINALLY remain below 400,000, but they are STILL high at (from CNBC):

“Initial claims for state unemployment benefits fell 5,000 to a seasonally adjusted 388,000, the Labor Department said, from an upwardly revised 393,000 the prior week.”

What did I say last week:

“I will bet that the TRUE number is 393,000 Initial Claims for Unemployment.”

What??  I have given another PERFECT estimation of the weeks claims!!!  How many times can you point to, where the Government Propagandists have told you the TRUE number??  That’s right…..ZERO!!!  And when is the last time that the Government Propagandists “estimated” a number that they had to revise downward??  I cannot find ONCE since Obama has been President!!!

This week I will bet that the TRUE number is STILL ABOVE 390,000 at 391,000.  Any takers??

By the way we are STILL above the number that signifies a reduction in the overall unemployment percentage, which STILL remains ABOVE 9.0% according to the Government Propagandists.

The following is a quote from the FoxNews report:

“Applications need to consistently drop below 375,000 to signal sustained job gains. They haven’t been that low since February.”

Let’s see….March, April, May, June, July, August, September, October, November….that makes 9 MONTHS, since the initial claims for unemployment have been at the UPPER RANGE to show “sustained job gains”!!!  And anyone who has read my previous posts knows that the 375,000 could very well be 350,000, which means it is LONGER THAN 9 MONTHS!!!  The jobs picture REMAINS BLEAK and there are NO SIGNS OF IMPROVEMENT YET!!

Another sign that the SEC needs to ELIMINATED…

November 14, 2011

Here is another article concerning the SEC, from Zero Hedge.  I am sure that some people have heard about former Goldmanite Jon Corzine and the MF Global bankruptcy/Client fleecing.  Now we see AGAIN how incompetent the SEC is, and we will throw in the Federal Reserve Bank of New York as well.  The relevant quote:

“In order for MF Global to have attained this status it must have passed through a review by:

 1)   The New York Fed

2)   The SEC

 This is not a quick nor superficial process. According to the NY Fed’s own site:

 Upon submission of a formal application, a prospective primary dealer can expect at least six months of formal consideration by the New York Fed. That consideration may include, among other things, on-site reviews of front, middle, and back office operations, review of compliance programs and discussions with compliance and credit risk management staff, discussions with senior management about business plans, financial condition, and the ability to meet FRBNY’s business needs, review of financial information, and consultation with primary supervisors and regulators.

 MF Global passed through all of these reviews to became a primary dealer in February 2011. Today, a mere nine months later, the firm is in Chapter 11 and has admitted to stealing clients’ funds to maintain liquidity.

You read that correctly.  The SEC reviewed ALL of MF Global’s operations for 6 months.  With access to ANYTHING that is asked for.  Including the front office, the middle office and the back office!!!  Nine months later, the firm is BANKRUPT and is accused of STEALING clients money.  There was NOT new management.  There were NO major changes in ownership.  NO significant changes in anything.  And yet, 270 DAYS AFTER the firm PASSES the review by the SEC, the firm is dead!!  The review was also conducted by the Federal Reserve Bank of New York.  These are “supposed to be the smartest guys in the room”!!

Eliminate the SEC!!! 

Thanks Obama for your oversight.  I mean, YOU are the Chief Executive over the SEC.  Right??  Or were you out golfing that day??

P.S. – This is also why the Government should NOT be investing in ANY individual companies, like Solyndra!!!

A Sign that things will get WORSE before they get better….

November 14, 2011

I am an optimist at heart.  But, I also look around and see reality.  Here is an article about the Bernie Madoff fiasco, from the Washingtomn Post, that gets my blood boiling.  And the specific quote:

“But the chairman decided not to fire the employee, because doing so “would harm the agency’s work,” SEC spokesman John Nester said.”

Would harm the agency’s work??  Are you kidding me???

How many OUTSIDE warnings did the SEC receive about Madoff??  MULTIPLE!!!

“The commission said Tuesday night that it received credible allegations about the scheme at least nine years ago and would immediately open an internal investigation to examine why it had failed to pursue them aggressively.”  (From the NYTimes)

“The doomed prophet has taken modern shape in Harry Markopolos, the Boston accountant who blew the whistle on Bernie Madoff. The SEC ignored him.”  (From Gawker)

How much does this “agency” have for a budget??  $1.19 BILLION!!!

“The $1.19 billion the committee approved fell short of the Obama administration’s request by $222.5 million.”

OK, to summarize.  Madoff STOLE from/COST investors that were supposed to be PROTECTED FROM FRAUDSTERS, like Bernie Madoff, by the SEC, BILLIONS of dollars.  And yes that was BILLIONS of dollars.  Over DECADES!!!  The SEC received CREDIBLE ALLEGATIONS about the fraud from outside observers.  The SEC did NOTHING!!  The SEC has a budget of $1.19 BILLION that comes from the fees and transaction costs associated with investing in securities.  In other words, WE (stock market investors, or ANYONE that has a 401-k retirement account, invests in mutual funds, buys stocks, etc.) are paying the budget of the SEC, so that THEY CAN PROTECT US FROM CON ARTISTS, like Bernie Madoff or Allen Stanford, etc.

AND NO ONE GETS FIRED FOR FAILING TO DO THEIR JOB, which cost some investors BILLIONS of dollars??  WHY do we need the SEC??  Eliminate the budget of the SEC.  Hey look, I just eliminated $11 BILLION from the deficit over the next ten years!!

Until people are held RESPONSIBLE for THEIR inactions or incompetence, things will continue to get WORSE.

Initial Claims for Unemployment FINALLY drop below 400,000…

November 10, 2011

Remember last week the Government propagandists said:

“The Labor Department said Thursday that weekly applications dropped 9,000 to a seasonally adjusted 397,000

And Last week I said:

“I will bet that this weeks number will be revised UPWARD to at least 400,000.  In fact I will bet that the number comes in at 401,000.”

And this week the government propagandists say, from FoxNews:

“The Labor Department said Thursday that weekly applications dropped to a seasonally adjusted 390,000.”

What??  No mention of ANY adjustments??  Could it be that the “statisticians” FINALLY got something correct??  From CNBC:

“Initial claims for state unemployment benefits fell 10,000 to a seasonally adjusted 390,000 in the week ended Nov. 5, slightly below the 400,000 that analysts polled by Reuters had expected. The government revised its estimate for claims during the prior week to 400,000 from 397,000.”

Damn!!!  I thought we were finally getting the TRUTH from the Government.  It looks like my estimate was off by ANOTHER 1,000 applicants to the upside.  I’m starting to think that maybe I am too pessimistic, BUT I am still closer with my estimates than the Government propagandists.

So this week the number is 390,000.  Anyone want to wager that this number is revised UPWARD next week?  I will bet that the TRUE number is 393,000 Initial Claims for Unemployment.  Any takers??

I am also asking FoxNews to update their erroneous article from last week.  I feel that they need to CHANGE the title to the article:

Unemployment Claims Fall Below 400,000 for the First Time in Five Weeks

Blatantly FALSE!!!  Until next week, when we revise the “government’s” numbers UPWARD once again, be safe.

Stolen Valor Act…

November 10, 2011

All I can say is WOW!!! 

First a little background.  Here is an article on Big Peace.  A few quotes:

“A federal judge in Maryland ruled in August that the Stolen Valor Act of 2005 was unconstitutional and dismissed the case against Aaron Lawless, an Iraq War veteran from Gothenburg…”

“…Lawless claimed to have won four Purple Hearts, two Bronze Star Medals and a Silver Star Medal. As a result of those claims, gun manufacturer Glock gave Lawless an award in 2008 along with plane tickets to Las Vegas, hotel accommodations and two pistols.”

“But federal officials who investigated Lawless’ claims found they were false…”

“Lawless’ attorneys, James Wyda and Susan Bauer, argued the act violates constitutional rights to free speech because it can be applied to mistakes and bragging.”

Notice, the Lawyers did NOT argue that their client Mr. Lawless did NOT lie about having the metals.  They argued that the law is unconstitutional and that their client should be allowed to LIE!!!

Here is an article from the MilitaryTimes and one from ArmyTimes and one from FoxNews and one from USAToday for more information about other cases.

Now, this morning I read this article from FoxNews.  A few quotes from the article:

“A Delaware man convicted of fraud for faking his way into Harvard”

“Prosecutors said he got into Harvard by falsely claiming that he had attended the exclusive Phillips Academy prep school in Andover and the Massachusetts Institute of Technology.”

“Adam Wheeler, 25, was sentenced last year to 2 1/2 years in jail and 10 years on probation for identity fraud and other charges.”

So to recap.  It is against the law to LIE and say you went to a Prep School, BUT it is OK to LIE and say you received honors from the Military!! 

Does anyone else see ANY problem with our “Justice” system??? 

Why can’t we have a law that just says it is a punishable offense to LIE.  That’s it.  Nothing more, nothing less.  I bet EVERYONE could understand that law, also!!

Solyndra…the gift that keeps on giving…

November 7, 2011

Here is a link to my previous post about Solyndra.  I left that post with this question:

“Hey Obama, how many other cronies did YOU pay off??”

Now, it seems that question is beginning to be answered.  Here is a link to an article on the Daily Caller.  A few quotes:

“Lazard Ltd. is a top contributor to the Democratic Party, not to mention a top 20 donor to the Democratic National Committee and the Democratic Senatorial Campaign Committee, according to the Center for Responsive Politics.”

or

“Bonuses were awarded to more than a dozen Solyndra executives on top of their already lucrative salaries.”

Thanks Obama, I appreciate you GIVING AWAY MY MONEY!!!   NOT!!!

How many OTHER cronies has Obama paid off??

Initial Claims for Unemployment…

November 3, 2011

Well, another Thursday, another day that the Initial Claims for Unemployment numbers get revised UPWARD!!  Last week I said:

“This week I will wager that the initial claims for unemployment is closer to 405,000 than 402,000.”

And this week the unemployment number report says, from FoxNews:

“The Labor Department said Thursday that weekly applications dropped 9,000 to a seasonally adjusted 397,000, the lowest level in five weeks.”

So, let’s see how this works.  397,000 + 9,000 equals 406,000!!!  Last weeks number was revised UPWARD to 406,000.  I missed the number by 1,000, again.  This time to the downside.

I also love how Fox News has the title to their article:

“Unemployment Claims Fall Below 400,000 for the First Time in Five Weeks”

Anyone want to bet??  I will bet that this weeks number will be revised UPWARD to at least 400,000.  In fact I will bet that the number comes in at 401,000.  Any takers??

Solyndra??

November 3, 2011

I’m sure everyone has already heard about how the corrupt Obama Administration paid off Obama’s political cronies in the Solyndra affair.  Of course, the inept Obama Administration is denying anything of the sort and says they “reviewed” everything and gave the money to Solyndra based on “the merits after extensive analysis”.  But after reading an article this morning from Fox News, I have a few questions.  First a few quotes from the article:

“Lazard was hired to look at Solyndra’s financing after the company received a $528 million loan in 2009 and $69 million in private money earlier this year in a restructuring deal approved by the Obama administration.  Under the second deal, the private investors moved ahead of U.S. taxpayers in case of a default on the loan, a fact that GOP investigators have sharply criticized.

“Lazard was paid $1 million for analyzing options related to the faltering company, Solyndra Inc.”

Hey Obama, wouldn’t it have saved the American Taxpayer OVER half a BILLION dollars, if you would have had Lazard do the initial analysis??  If Lazard is good enough, to pay $1 MILLION to do an analysis AFTER the fact, I think that would have been PRUDENT.

Hey Obama, IF the Department of Energy “analyzers” were SO good, WHY did we pay Lazard $1 MILLION to do any analyzing??  Who do YOU know at Lazard?  Was this an open bid contract?  I would have done the analysis for half that amount!!

Hey Obama, I have not heard of YOU firing any of the idiots that approved this loan, why not??

Hey Obama, I have not heard of YOU firing anyone who “approved” the creditors moving in front of the American Taxpayer, why not??

Hey Obama, how many other cronies did YOU pay off??

The VAMPIRES that run Fannie and Freddie….

November 2, 2011

So everyone should know by now that I have a problem with Fannie Mae and Freddie Mac.  (Here is a great article with footnotes from 2003) These two companies started out as GSE’s, meaning they received preferential treatment from the Government.  During this time they “made” BILLIONS of dollars that were distributed to shareholders and EMPLOYEES.  Then they ran into trouble (because they were IDIOTS and did not understand the RISKS they were taking, or they were THIEVES because they knew the risks and did  not CARE and STOLE the money from the company) and were BAILED out by the Government with OUR MONEY.

The following is the problem that I am having:

Here is an article from February 2011 from CNN:

“When the dust settles, the federal bailout of Fannie Mae and Freddie Mac will be the most expensive government rescue of the financial crisis — it already stands at $153 billion and counting.” (my emphasis)

And here is an article from the Huffington Post on October 28, 2011:

“The government has already spent $169 billion to bail out the two companies.” (my emphasis)

So, in less than 8 months, WE have given these two companies ANOTHER $16 BILLION!!!  This does NOT include the latest quarter.  HEre is the problem I am having.  IF we, THE AMERICAN TAXPAYER, did NOT give any money to these two companies they would have to file for bankruptcy.  Yet the management is STILL receiving bonuses!! 

Here is an article from FoxNews:

“A Republican senator is calling on President Obama to cancel the $12.8 million in bonuses that were approved for 10 executives at the government-seized mortgage giants…”

The people who “work” for these companies are LUCKY to have a job!!!  If We did not bail them out the companies would likely have been sold off.  WE own these companies!!!  I want to know WHO approved these “bonuses”!!!  President Obama is DIRECTLY responsible for these companies!!!  HE bought them for US!!  Whomever “approved” these bonuses needs to hear two words……..”You’re FIRED”!!!  Also, President Obama needs to answer questions as to why this was allowed to get this far.  What is President Obama going to do about the money that was “paid” to prior management of Fannie and Freddie??  I am especially interested in ANY monies paid as bonuses!!

What say you Mr. “President”???

I will leave you with a few more quotes from the above referenced articles:

“The Federal Housing Finance Agency, the government body that oversees the two mortgage giants, has estimated that losses through 2013 will require Treasury to pour another $68 billion to $210 billion into the firms on top of the money already used to prop-up the firms and the housing market.”

“But while the government has kept the firms alive by pumping money into them since then, there has been no plan on reforming their operations going forward.”

“It will cost taxpayers at least $51 billion more to support the mortgage companies through 2014, and as much as $142 billion in the most extreme case.”

In case you missed it…………THEY ARE STILL LOSING MONEY!!!