A little more information

The two main activities in my life: Helping the hungry in the late hours of the night and helping guitar players sound better one amp at a time.

I always try to remember that in order to do good one has to take action and actually do something.

I was born and raised in Los Angeles. I have watched the city and Southern California change for well over half a century.

I can be found on facebook at www.facebook.com/mylesr or on twitter at www.twitter.com/myles111us or on my own Guitar Amplifier Blueprinting website at www.mylesrose.com

Los Angeles Architectural History

Los Angeles Architectural History
1935 Art Deco at some of its finest: No. 168 - Griffith Observatory- (click on the photo for information)

Tuesday, May 17, 2011

Financial Repression Coming to America




Before anybody gets the wrong idea, and even though it is not anybodies business, I will state that I am registered as a Democrat. But ... just as I have lost faith in our system of justice in this country I have also lost faith in our current administration.

As a side note I find it deplorable that some members of our government as pushing the debt debates until the 11th hour to upset the public, worry the public and use the fear of the American public to drive votes away from the current administration and to them in the next election.  Many Americans do not realize that the debt ceiling has been increased many times during past administrations.  Reagan raised the debt ceiling 17 times.  Bush Jr. raised the debt ceiling 7 times. This is nothing new but this is being used to put fear into the heart of the American public.  Again, to many of our elected officials; shame of you.  What little respect I had for many of you has turned to distain and disgust.

Side note to folks that look at statistics of another sort;  Debt increase by presidents: Reagan 186%, Bush II 72% Bush 54% Clinton 41% Obama 23%. Source CBO.

You can continue to read this post, the long version that is updated on a continual basis, each story from each link more depressing than the last.  Or, since our government is making no sense, on 7/28/11 I was driven to write a new post that might fit more into the way our government is currently working.  That post can be read at http://bit.ly/rfnKZg  Can you be as ineffective as our government?  That is the question and topic of the post.

I agree with some of the basic core values of each of the political parties in our country.  My thoughts on big government versus smaller government, abortion, gun rights, taxes, defense, freedom and how freedom is defined, etc., may cross political boundaries. 

In my own case I just observe things on a daily basis and see things getting worse rather than better for the average American trying to live day by day.  High taxes and big dollar portfolios are not as applicable to most of the population.  Gas prices, food prices, basic living necessities, medical attention and a roof over our head is what is important and critical to the vast majority of the population in this country.

I understand that it took many years for the country to get to the current position.  I have written pieces on how America has outsourced jobs, cannot compete for many reasons, how our lack of creative classes in our schools has taken away aspects of creative thinking in art, music, and vocational classes.  I have listened to the point of view that it will take many years to dig out of the current situation.  But, what I cannot wrap my head around is how difficult for me to find some basic examples of how things have gotten better.

Things continue to decline.  What has gotten better?  Where is any improvement?

If our current administration sees any of this it sure seems as if they have not taken a single step to show me, and millions of other Americans, that they understand any of this.  

There are many subjects that one can point to such as spending and the budget.  I am looking at a few points.  Bank that were bailed and are posting profits higher than ever as they continue to foreclose on homes and toss folks out on the street.  Banks that make loans difficult which impacts small business.  Rising unemployment regardless of the nonsense reports that forget to count those who have fallen from the ranks of the counted.

There are more people out of work, more people who have lost their homes, more businesses which have failed and more people living on the street than there were a year ago.  Last year the number rose over the prior year.  Bottom line from my own viewpoint is that our current administration has made many promises but has accomplished very little.

Just one story today of too many to count:
Financial Repression Coming to America: El-Erian - Yahoo! Finance

Our economy continues to decline.

I read story after story.  I watch one news broadcast after another.

I had hope for the current administration.  I have lost hope as have millions of Americans.  There are some Americans who have taken strong positions as reported on 5/15 60 Minutes:

The banks which had a large part in our nation's current economic problems post higher than ever profit yet the have not been held financially accountable for their crimes.  Yes, crimes.
The oil companies are posting higher profit figures than ever before as Americans pay more at the pump as they drive to and from work each day, if they have a job.  We all pay more for food and everyday items due to higher transportation costs. 

AT&T raises rates, lowers services and implements data caps.  The data caps will destroy Internet based businesses that stream video, movies, online gaming etc.  One of the only segments of our economy that was growing is having it's legs cut off by AT&T.  At the same time, AT&T buys up companies such as Alltel and T-Mobile to be the sole carrier of communication in this country.

Our government stands and does little more than watch as they fight for power, Democrat against Republican,  accomplishing nothing.  It reminds me of children fighting over a ball except children would  be smart enough to notice that the ball is no longer inflated.

One of my earlier posts on the subject of America and the economy:


I will be updating this piece with a few select links to news stories in the future.

5/27/11 - 400,000 people in one week no longer have a job and the media reports this as good news because the prior week the number of job losses were reported at a slightly higher number?   To bring the visibility to this story on a realistic sense let me mention a few of the businesses and companies in California where jobs were lost in May of 2011:

ALSTYLE APPAREL ANAHEIM 215
T.G.I. FRIDAY'S RANCHO SANTA MARGARITA 46
MITSUBISHI ELECTRIC IRVINE 130
CLEVELAND CHIROPRACTIC COLLEGE LOS ANGELES 77
BEST BUY CHINO 42
DISNEY INTERACTIVE MEDIA GROUP NORTH HOLLYWOOD 103
ANTELOPE VALLEY HOSPITAL LANCASTER 7
TICKETS.COM, INC. CONCORD 125
ALBERTSONS COVINA 71
ALBERTSONS COACHELLA 72
SCRIPPS KENSINGTON (THE EPISCOPAL HOME COMMUNITIE) ALHAMBRA 66
BEST BUY CHINO 262
WELLPOINT NEWBURY PARK 120
RALPHS GROCERY COMPANY STORE #37 SIMI VALLEY 60
FIRST DATA ROCKLIN 1
NORTHROP GRUMMAN CORP(AEROSPACE SYSTEMS)REDONDO BEACH 75
CUMMINGS-VIOLICH, INC CHICO 95
HOWREY PALO ALTO 37
UNITEDHEALTH CORPORATION SANTA ANA 11
TEVA PHARMACEUTICALS IRVINE 1
THE BOEING COMPANY LONG BEACH 57
PACIFIC LINERS VACAVILLE 59
JET PROPULSION LABORATORY PASADENA 12
SUNDANCE SPAS, INC. CHINO 9
ISSI HENRY MAYO NEWHALL MEMORIAL HOSPITAL VALENCIA 128
JOHNSON CONTROLS, INC LIVERMORE 1
THE BICYCLE CASINO BELL 99
UNITEDHEALTH CORPORTION SANTA ANA 156
RIVERSIDE CEMENT COMPANY ORO GRANDE 60
HOWREY SAN FRANCISCO 29
HOWREY LOS ANGELES 70
PACTIV CORPORATION CITY OF INDUSTRY 1
ANGELICA TEXTILE SERVICES, INC. COLTON 134
SOUTH CITY MOTORS, INC. SAN FRANCISCO 77
STAR TRAC MURRIETA 55
RALPHS COMPTON 7
GENERAL DYNAMICS ("NASSCO") SAN DIEGO 900
RALPHS RIVERSIDE 21
AAA NORTHERN CALIFORNIA WALNUT CREEK 71
SONY ONLINE ENTERTAINMENT, LLC SAN DIEGO 57
THE BOEING COMPANY LONG BEACH 115
APPLIED MATERIALS, INC. FAIRFIELD 2
APPLIED MATERIALS, INC SANTA CLARA 28
APPLIED MATERIALS, INC. FREMONT 1
APPLIED MATERIALS, INC. SANTA CLARA 1
NORTHROP GRUMMAN SAN DIEGO 86
LOS ANGELES URBAN LEAGUE LOS ANGELES 153
THE BOEING COMPANY ANAHEIM 65
THE BOEING COMPANY LONG BEACH 17
THE BOEING COMPANY HUNTINGTON BEACH 51
APPLIED MATERIALS, INC. SUNNYVALE 1
ONEWEST BANK, FSB IRVINE 65
CONSOLIDATED CONTAINER COMPANY SANTA FE SPRINGS 77
SUNFOODS, LLC WOODLAND 69
THE BOEING COMPANY HUNTINGTON BEACH 99
THE BOEING COMPANY ANAHEIM 4
COMCAST CORPORATION LIVERMORE 64
BD MEDICAL OCEANSIDE 1
SEARS HOLDINGS CORPORATION MOUNTAIN VIEW 135
WELLS FARGO HOME MORTGAGE GROUP IRVINE 53
WELLS FARGO SAN DIEGO 82

I am sure each and every one of the folks on the list above thanks the current administration for their new situation. 

To add insult to injury, many states have cut unemployment benefits.  After 99 weeks of benefits folks are dropped from the list of the counted.  That is one BIG reason the media can post stories about improvement. 

Less people filing for unemployment?  Wake up.  One of my past pieces noted that Employment Development offices have added armed security along with photos.

Cutting taxes for the wealthy?  Reducing expenses by cutting things like unemployment, Social Security and basic services that people rely on to survive? 

Allowing big business such as the oil companies to post record profit and allow mergers of companies like AT&T and T-Mobile which will drive Internet based business into failure with data caps and higher prices.

At this point the odds are pretty good that the people in Government are less than effective at doing much of anything to help the man on the street. 

On 5/28/11 this blog post was found in the blog of The Speaker of The House - THE SPEAKER JOHN BOEHNER DAILY is out! http://bit.ly/aPqwRc  ▸ Top stories today via @ladyred133 @tigerz23 @myles111us @jszeluga

Below are a few folks that seem to listen to what some of us on the street have to say.  Most folks in our government have twitter and many people follow them.  I will add some of those that follow some of us on the street.


















Our President made a number of promises, or if I take a lighter stance I will say "predictions" on what he intended to accomplish.  So far it seems that from where I sit things have not come to pass in most cases.

The Economy Is Wavering. Does Washington Notice? - Yahoo! Finance: http://yhoo.it/mCBTV3

5/28/11

Reach agreement on jobless benefits? - http://bit.ly/l8o1XO

Record High 13.7 Million Americans Currently Collect Unemployment as of May 2011: http://bit.ly/jv4yeN - The interesting aspect for me on this story is the number of Americans who are out of work and counted.  This has no bearing on the uncounted people whose benefits are expired or others who are not counted.  As a side note, the extension mentioned in this story does not extend benefits over what they were prior to this mentioned extension.

What is in store for many in California next month?  The count of layoffs by a few companies.







Pending home sales plummet 11.6% in April: http://bit.ly/mpd8iA - Looks as if the housing problems have gotten worse rather than get better.  The situation has not even stabilized.  Can you say free fall?

Grocery store workers on hunger strike because they can't afford the food on the shelves 

5/31/11 - Economy gains, yet housing spirals downward - http://bo.st/jiuTKf  Economy gains where?  This story was published on 5/31.  Look at what happend the next day.

6/1/11 - Stocks falter: weak economic data cast doubts on the strength of an economic recovery - http://yhoo.it/l6jZzq  Hey folks, things are not working at all for the man on the street.

Disabled workers: America's hidden unemployment problem - http://bit.ly/jVBpzj

Unemployment Still Hampering Recovery Efforts  http://prn.to/muYrPs
When the US economy was showing signs of life, the end of Federal Reserve's easing didn't seem to worry financial markets. But now that the economy is clearly sputtering, the transition may not be so easy. - http://www.cnbc.com/id/43227417

The poor economy complicates Obama's debt ceiling position http://wapo.st/mrn7RU

Dow falls more than 200 points on fears about economy - latimes.com: http://lat.ms/lOS65L  The worst drop in a year?  Perhaps Wall Street will no longer be able to be used as an example of how things have been improved under the current administration.



Private Job Growth Weaker; Factories Losing Steam : NPR: http://n.pr/int0DV

Economists Lower Job Estimates Following Disappointing ADP Report - ERE.net: http://bit.ly/kmqqFo
If you haven’t already heard about today’s jobs numbers from ADP, well, to paraphrase Bette Davis, “Fasten your seatbelts, it’s going to be a bumpy ride.”

6/2/11
Looking Ahead: A Jobs Setback in May? The Atlantic: http://bit.ly/lm32JF
Unemployment rate is down because job seekers are giving up  http://bit.ly/kizLCp
More 'Unexpected' Bad Jobless Numbers  http://bit.ly/is9qrl

6/3/11
Employers add fewest jobs in 8 months; unemployment jumps to 9.1% - The Washington Post: http://wapo.st/iFGuJg

Could Unemployment Numbers Cost Obama His Job? : NPR: http://n.pr/ifNMxA

May Unemployment Rate Rises to 9.1 Percent - http://abcn.ws/kTDvaL

Morning Bell: Unemployment Goes Up, Obama Declares Victory http://bit.ly/lka7tO

US Has To Create 250K Jobs A Month For 66 Months To Return To Dec 07 Unemployment By End Of Obama 2nd Term  http://t.co/njWKOSw

People Who Want A Job Now, Average Duration Of Unemployment Both Hit All Time Highs http://t.co/dRSrgUr

Allentown PA: 265 Allentown school teachers to get pink slips today - http://t.co/yyEyX08 Teachers cut, admin stay?

The double-dip threat returns - http://bit.ly/jp27nJ

Americas Under and Unemployed Battlefield http://bit.ly/iRYqKH

6/5/11

Little safety net for foreclosures tied to joblessness http://bit.ly/l0VY9B

Bank of America Gets Pad Locked After Homeowner Forecloses On It - http://t.co/hpKkA4x

Homeowners Foreclose On Bank Of America (VIDEO): http://t.co/xluLlBc - The current administration loaned banks the money.  The banks kept the money.  The banks continued to foreclose.  The banks would not make loans.  The banks would not refinance.  The banks posted record profits.  The current administration did not prosecute the banks.  The current administration would not hold the banks accountable.  My hat is off to individual citizens that turned the table on one bank. 

6/6/11
24.6 million or more are looking for work, not 14 million! http://bit.ly/klNt4B Use all the facts!

As usual the MSM misses the mark when it comes to reporting unemployment numbers. There are 13.9 million regular unemployed, there are 2.2 million who are marginally attached to the labor force who want to work, but aren't considered in the unemployment of 9.1%. There are 8.6 million underemployed. Those are people who want full-time work, but are working less than 34 hours a week. As a result, the underemployed are probably looking for full-time work. So in total, there are at least 24.6 million people who want full-time work! Why is the media so unable to report anything beyond the simple BLS 9.1% unemployment rate?? These "experts" should be embarrassed by their inability to see the bigger picture and report accurately. And they wonder why they are losing audience.

Michael Thornton: More Long-Term Unemployed, More 99ers, More Despair http://t.co/8VeNbTy - Virgil's income has fallen from a high of more than $100,000 in 2003 to less than $20,000 today. His wants are simple; a full-time job and a place to call home.

6/6/11 I am sending this post to people in many positions within our government. These folks all have twitter accounts. I am sending this: America in economic freefall? http://bit.ly/lUjlar - RT if you feel the man on the street has worth. I will keep track. The folks that re-tweet will be mentioned at some point in this post which I will keep updated. Those are the people that care about you and I. I may also mention some that do not respond. Perhaps social media for those folks who do not respond is something that they use because they feel it looks good for them rather than a way to communicate with the people.

6/7/11 - A few stories from today

More Long-Term Unemployed, More Despair, but Less Government and Private Sector Action on Jobs: http://t.co/FBTF5GG

Dean Baker: The Latest Jobs Numbers And The Very Real Chance Of Another Great Depression

The New Republic: http://t.co/xirsjBH

Boeing to Cut 100 Jobs from Huntington Beach Space Division Orange County Business Journal: http://t.co/FPWlezk

Medtronic's cutbacks end; final job loss tally is 1,700 StarTribune.com: http://t.co/lXklhDo

Collins plans to cut 300 jobs in 2012 - Erie County NY - The Buffalo News: http://t.co/rUbOeFR

Obama's chief economic advisor resigning http://lat.ms/jJwjKf

Obama has no fear but I do along with 25 million Americans who are out of work.  I had high hopes for the current administration but over the last two or so years have lost faith.  Come to think of it, even his own financial advisor lost faith as he resigned.  Obama: No fears of double-dip recession - http://t.co/st0aDYK

Today on facebook there were questions on whether I was an Obama fan.  I am not sure if he thought I was for our President or not.  On this blog there are comments of mine on both political parties.  The comment was:  I see you love Obama as much as I do. I guess he quit being president and is out trying to get votes.

My reply to his comment:  I was originally a fan.  I don't think of myself as a democrat or republican as I share views with both parties. 

These days I am not much of a fan of our government, our legal system, our economy. 

Before somebody gives me a lecture of love it or leave it I will ask them to look at what I have personally given to this country and if push comes to shove I may be one more name on the lists that are kept by some organizations in our government. 

This country needs to remember that there are a lot of us from Vietnam to Afganistan who were trained not to quit or walk away.  I was not a Marine but love their saying - "the difficult we do immediately, the impossible takes a little longer". 

Pawlenty Economic Platform Includes Massive Tax Giveaways To The Rich And Corporations

ThinkProgress: http://bit.ly/jJV5j3  - my comment:  So many viewpoints that are so very different when it comes to Democrats and Republicans. Well, I suppose folks will make up their own minds. Those folks that live in places like Montana that have dug in may be on the right track. It took America a long time to get into this mess and will take a long time to get out but.... I see more people on the street each month, more people out of work each month, more home foreclosures.  The question I ask myself is, will there be something to rebuild or are the survivors going to have to rebuild from scratch?

6/8/11

How Long Before The Unemployed Find Work Or Give Up?: http://huff.to/jAVO8f

As Economy Falters, Worries Grow That Stocks Will Follow - CNBC: http://t.co/zaa1Qk5

6/9/11

Unemployment benefit claims at high level; trade gap shrinks - USATODAY.com: http://usat.ly/jEgGyr

Poll: Republicans Gain on Deficit, Economy; Mistrust of Both Parties Rise - ABC News: http://abcn.ws/mL48IP - Seems as if I am not in the minority when it comes to faith in either side of our government.  I am keeping my own poll of who responds to questions or requests for certain action and which of our representatives sit back quietly in the shadows.

The Associated Press: Slow economy weighing on stock market, finally: http://bit.ly/kCgFsD
Perhaps big business will now also admit that there is a problem and those who pointed to a rise on Wall Street that things were getting better.

U.S. Jobless Claims Inch Higher As Economy Sputters - Steve Schaefer - Exile On Wall Street - Forbes: http://onforb.es/me8gzc

Three big banks fail in foreclosure relief program [Updated] - latimes.com: http://t.co/RakTWeE

Newt Gingrich's entire senior staff resign http://t.co/TGxj73E
All sorts of folks are resigning on both sides of Washington.  Obama's financial advisor as well.  I will refrain from the obvious "sinking ship" comment.  See story link above on 6/7/11. 

For those folks that think things are improving, how do you ignore the activities in Washington by people at the highest levels of government (not counting the Weiner antics)? 

6/10/11

US stocks off sharply; 6th down week looks likely - http://yhoo.it/iVEQHj

http://uibenefits-misconceptions.blogspot.com/ - URGENT MESSAGE TO ALL MEMBERS OF CONGRESS - a blog message from one of the people being impacted by the current economic situation.




6/14/11

US Housing Crisis Officially As Bad As Great Depression - CNBC: http://www.cnbc.com/id/43395857

Time, the economy, and President Obama - http://t.co/nF0vdwP

6/17/11

California loses 29,200 jobs in May, a blow to recovery - latimes.com: http://lat.ms/lpTsnm

Unemployment up in South Florida, and back to a record in Miami-Dade - MiamiHerald.com: http://bit.ly/m5onjH

Illinois unemployment climbs in May to 8.9 percent - BusinessWeek: http://buswk.co/jAn1KZ

A few comments from some friends:

Mitt Romney calling himself unemployed is equivalent to...... nothing on this freaking planet. Get a clue.

Mitt Romney made millions killing jobs, and now he is a Pro Jobs Republican? Really? More like the guy from Pretty Women minus the hooker.

Imagine what unemployment would be if 2.5 million people weren't in jail. Up from 500,000 in 1980. Happy B-day war on Drugs

6/20/11 Mayors say lost jobs won't be back until 2020 - CBS News: http://bit.ly/kewCe5

Suppose we take a look as some of the jobs which will be lost in California next month, in July of 2010.  From this list does it look as if things are improving?  Keep in mind these are only the companies which are large enough to be subject to the guidelines of letting people know in advance that they are going to have their employment terminated.  There are countless small businesses which fail each week which will never be seen on these lists.








6/21/11 - One creative way to address a problem due to the economy - Man robs bank to get medical care in jail - http://yhoo.it/k0Kj67  I copied the story below in addition to posting the link as it says so much on so many levels.



Tue Jun 21, 10:36 am ET

Man robs bank to get medical care in jail
By Zachary Roth

Some people who need medical care but can't afford it go to the emergency room. Others just hope they'll get better. James Richard Verone robbed a bank.

Earlier this month, Verone (pictured), a 59-year-old convenience store clerk, walked into a Gaston, N.C., bank and handed the cashier a note demanding $1 and medical attention. Then he waited calmly for police to show up.

He's now in jail and has an appointment with a doctor this week.

Verone's problems started when he lost the job he'd held for 17 years as a Coca Cola deliveryman, amid the economic downturn. He found new work driving a truck, but it didn't last. Eventually, he took a part-time position at the convenience store.

But Verone's body wasn't up to it. The bending and lifting made his back ache. He had problems with his left foot, making him limp. He also suffered from carpal tunnel syndrome and arthritis.

Then he noticed a protrusion on his chest. "The pain was beyond the tolerance that I could accept," Verone told the Gaston Gazette. "I kind of hit a brick wall with everything."

Verone knew he needed help and he didn't want to be a burden on his sister and brothers. He applied for food stamps, but they weren't enough either.

So he hatched a plan. On June 9, he woke up, showered, ironed his shirt. He mailed a letter to the Gazette, listing the return address as the Gaston County Jail.

"When you receive this a bank robbery will have been committed by me," Verone wrote in the letter. "This robbery is being committed by me for one dollar. I am of sound mind but not so much sound body."

Then Verone hailed a cab to take him to the RBC Bank. Inside, he handed the teller his $1 robbery demand.

"I didn't have any fears," said Verone. "I told the teller that I would sit over here and wait for police."

The teller was so frightened that she had to be taken to the hospital to be checked out. Verone, meanwhile, was taken to jail, just as he'd planned it.

Because he only asked for $1, Verone was charged with larceny, not bank robbery. But he said that if his punishment isn't severe enough, he plans to tell the judge that he'll do it again. His $100,000 bond has been reduced to $2,000, but he says he doesn't plan to pay it.

In jail, Verone said he skips dinner to avoid too much contact with the other inmates. He's already seen some nurses and is scheduled to see a doctor on Friday. He said he's hoping to receive back and foot surgery, and get the protrusion on his chest treated. Then he plans to spend a few years in jail, before getting out in time to collect Social Security and move to the beach.

Verone also presented the view that if the United States had a health-care system which offered people more government support, he wouldn't have had to make the choice he did.

"If you don't have your health you don't have anything," Verone said.

The Affordable Care Act, President Obama's health-care overhaul passed by Congress last year, was designed to make it easier for Americans in situations like Verone's to get health insurance. But most of its provisions don't go into effect until 2014.

As it is, Verone said he thinks he chose the best of a bunch of bad options. "I picked jail."

6/21/11 - The Rise in Structural Unemployment in the US Recession - http://onforb.es/jzstYE

Economy slows as nation stands on brink of double-dip recession - The Lakeland Times - Minocqua, WI: http://bit.ly/iM97rt - The opening line in the article:  If you're looking for good economic news, don't bother to read any further. There just isn't any.

Chart of the Week: The Health of the Jobs Market: http://bit.ly/jkoodp

Just 8% Approve of Job Congress Is Doing - Rasmussen Reports™: http://t.co/26WiRxb The deposed Middle East dictators had better approval!

Paving the Road to a Hungrier, Unhealthier, and Less-Educated Nation  http://bit.ly/lMm95T

6/28/11

Consumers' confidence down in June on job worries - http://yhoo.it/lvgbHH

Out of work for a while? Tell us your story The Lookout - Yahoo! News: http://yhoo.it/mlQER5

Number of Erie County homeless rises to 8,500, 60% for first time - Erie County - The Buffalo News: http://bit.ly/kWMl0n

Pittsburgh unemployment rate increases Pittsburgh Business Times: http://bit.ly/jUkhcp

Scott signs bill reducing unemployment benefits - Florida Independent: http://bit.ly/ii2mw8

County's Unemployment Rate Unchanged in May - The Pilot: Southern Pines, NC: http://bit.ly/j5rdgm

Consumers' confidence down in June on job worries - Yahoo! Finance: http://t.co/NzCqCo5

Obama's Choice on Jobs: Politics or Policy http://yhoo.it/kvlPw0

6/29/11

Way past due.  Obama: Ending tax breaks for wealthy not radical - http://yhoo.it/iAmk8M

6/30/11

Jobless Claims in U.S. Decreased 1,000 Last Week to 428,000: http://bit.ly/ixYXQk - change was not encourging.

First-time unemployment claims nearly unchanged - The Hill's On The Money: http://bit.ly/ju93ny

U.S. Economy In Permanent Decline, Say 39 Percent of Americans: Poll: http://huff.to/iEPzSG

QE2 Is Over, Now What? - http://yhoo.it/mUQslO

7/3/11

Rich Dad/Poor Dad Prepares for Economic Collapse: http://t.co/bV68Omn

http://t.co/GeneC2z - The Pledge of (GOP) Allegiance?

7/7/11

Government to ease foreclosure rules for unemployed - http://t.co/nrapdFz - wonder WHEN this would happen and banks actually comply?





We Knew They Got Raises. But This? http://nyti.ms/jBvhvU

BMW, Teamsters: BMW layoffs exemplify the evisceration of the middle class - latimes.com http://t.co/2LAY2ef 

Rob Spring: Internet tax is just another money grab - Carroll County Times:: http://t.co/C4TiThX

7/8/11

June Jobs Report: the Ugly, the Ugly and the Ugly  http://t.co/JEoLapK

latimes: Dismal jobs report shows unemployment rising to 9.2% http://lat.ms/qzMuiT

7/9/11

Jarring slowdown in hiring raises concern - The Boston Globe: http://t.co/gLqNW8Q

June jobs report shows rising US unemployment, economic outlook worsens - Wikinews, the free news source: http://t.co/Gu10Wfl

Unemployment Numbers Raise Stakes for Debt Ceiling Summit - Mary Kate Cary (usnews.com): http://t.co/ur3qGqy

Despite promises, joblessness soars - http://bit.ly/oaOtLh

7/10/11 and beyond:

For America's "99ers," jobs crisis is hard to escape - http://yhoo.it/qefk5W

The no-jobs economy: Why isn't the US recovery stronger? - http://bit.ly/r2wosz

Cisco going to kill 10,000 jobs - but needs tax break to be paid for by Taxpayers. http://t.co/pZZLMVt

Romney led MA to a 47th-place finish in job creation. Now he wants to bring his economic leadership to the rest of us: http://j.mp/n8M1su

29 corps with more money than US Treasury. Biggest US banks on list.  http://t.co/5gOTsJ6

7/21/11 - Unemployment claims up again - http://usat.ly/qfgEKy

http://on.wsj.com/qap1xO Long-Term Unemployment, by State

99 Weeks of Unemployment Compensation Causes Major Depression - FoxNews.com http://t.co/soDP5jh

Millions of Long-Term Unemployed Are Living Desperately on the Edge
http://www.huffingtonpost.com/michael-thornton/hope-is-gone-the-future-i_b_906143.html

Wall Street to Washington: Give Us Some Clarity, Please!  http://t.co/Shwz35Z

Unemployment rates rose in more than half of US states; http://t.co/mFh6HhV

Americans Go “From Disappointment to Disgust” with Debt-Ceiling Debate -  http://t.co/UfP1Nbb

Things continue to go from bad to worse - Unemployment rate in San Bernardino County jumps from 13.2 percent to 14 percent

Published: Saturday, July 23, 2011 3:18 PM PDT

The unemployment rate in San Bernardino County had been steadily decreasing, but last month it jumped back up, according to the California Employment Development Department.

The EDD announced Friday that the jobless rate in the county went from 13.2 percent in May to 14 percent in June.

Overall, California's unemployment rate also increased in June. The state's rate moved from 11.7 in May to 11.8 in June, even though non-farm payroll jobs increased by 28,800 last month.

The U.S. unemployment rate also increased in June, to 9.2 percent.

The Help-Wanted Sign Comes With a Frustrating Asterisk - The unemployed need not apply.  http://t.co/U5b72Sh

7/27/11

Over the last few days there has been a bit of dialogue on one of the social media sites.  Mike Franceschini makes some great points as do some other folks.  I will copy and paste a few of the comments here.

Mike:  Reagan raised the debt ceiling 17 times.......Bush jr raised the debt ceiling 7 times. Where was all the self rightious moral outrage then? How many trillion dollar wars did they inherate from the previous administration? How many world wide economic collapes did they have to deal with? ok ...... D minus history students......go for it.

Max:  The Boehner strategy is to help bring any sort of middle class to it's knees. Create economic turmoil such that so many are unemployed that Americans will accept any job at any wage. This is the Republicans 'ultimate solution.' Why is it that so many continue to vote and support those working against their best interests? Why?

Roy:   I agree. What is causing this disconnect among the voters? Propaganda. Propaganda from Fox News, Glen Beck, Rush Limbaugh. Someone actually said to me the other day that if everyone would watch Fox News, we would be better informed because "at least they tell both sides". NO, THEY DON'T. And the "side" that they tell is fiction. Ever wonder why you only hear some "news" items on Fox News? Because they make the shit up.....How stupid can the American people be?

Brian:  Oh how quickly they forget.

Mike:  Brian-I dont think they forget....they never took the time to KNOW how things have worked up to this point. The raising of the debt ceiling is to pay the interest for PREVIOUS borrowed money- not new borrowed money. The Iraq and Afganistan wars have cost to date 1.3 trillion dollars- Money borrowed by Bush and Cheney that now has to be paid back. This is not counting the cost of extended help for the wounded and maimed sholders- this will cost another trillion dollars over the life span of these men and women. They left future adminisitrations with the bills. And somehow the numbskulls say that the president is to blame. Has anyone ever heard any Repulican take the blame for ANYTHING bad that has ever happened?

From my own point of view I feel that the current situation is the pinnacle of a perfect example of out government being irresponsible and ineffective while they argue like children for their own point of view.

Bottom line: 

Raise taxes on the wealthy and corporations who are receiving tax breaks.   There is no other choice as the middle class is shrinking each week.  Corporations are posting profits higher than other. 

Do not reduce Social Security or any other program that people are entitled to.  Entitled?  Hell yes.  They are entitled because they PAID money into the program in good faith over their entire working career.

Reduce the cost of our military activities while increasing effectiveness.  How?  Bring troops home so they do not have to be housed, fed and put in harms way.  We have the technology to continue to raise havoc if that is what our government wishes to do via drone aircraft and other methods.

7/28/11

Obama-GOP standoff in debt ceiling talks triggers public disgust  http://t.co/oCNwzbP

The final kill shot to the trashed housing market? Mortgage tax break eyed to help cut debt  - It looks as if the folks in Washington are grasping at anything as long as does not raise taxes on record setting profit level corporations or those in the highest tax bracket.  The last part of the American Dream being taken away by those in Washington.  

Shame on all of you no matter what your political party.  This country has never been closer to collapse in the entire history of America.  America has also never been closer to revolution in her history.  

Wall Street posts worst week in year on debt woes http://t.co/Gf6myf7

Why the Debt Crisis Is Even Worse Than You Think 

8/1/11 - The debt deal and broken system - Olbermann's Special Comment http://bit.ly/qMte5E

Debt ceiling deal casts a bleak light on the future http://lat.ms/pSszLk

8/2/11 - Stocks now down for year as economic concerns grow http://t.co/w2f8rVx

So America, how's that new debt deal workin' out for us all?  It seems as if Washington can't accept that things are broken and they cannot do anything about it.  Things have been going downhill for too long as one mistake after another was made.  The guilty were not punished, big corporations reaping huge profits were not made to pay their fair share.   Sometimes things get broken beyond repair and our government should accept that time for ineffective nonsense and throwing garbage to the wall to see what might stick is not the way to minimize damage.  At this point all that can be done is to minimize further damage.

Tax the most wealthy segments fairly.  This means INCREASING their taxes.  Tax corporations on their profit and limit nonsense write offs.  What is nonsense?  Ask the American people, NOT the government or special interest lobby groups.  Reduce defense spending and leverage the technology if America wants to fight rather than put human troops in harms way.

I have said it before along with millions of Americans:  You folks in Washington could not do a worse job or be less effective if that was your goal and charter.  Most of you should be deported as traitors or terrorists.  You have done more damage to America than perhaps any other events in our history.  The antics around the debt crisis alone would be enough justification by itself to toss you from the USA.

The Market Ticker - Here's Your Thank You List

8/3/11 - Stocks continue to slide day after big sell-off - http://t.co/p055TBl - headed for longest losing streak since peak of the financial crisis in October 2008.

Recession warnings on the rise http://t.co/R3wJWLX via @CNNMoney

8/4/11 - The market today - It is clear to me that our government is out of things to try and from this point on it will be little more than finger pointing and blame.  The system is broken and the country is broken.

One of my friends talked about Obama being the Captain of the ship and blamed him.  My reply:  I wonder when folks will learn to stop pointing at the Captain and realize he was given a rusted out hulk of a ship and for a few decades we have been moving along at top speed (2 knots is all this tub will do) heading straight for the latitudes of the screaming fifties as many in our government such as the Speaker of the House have done their best to assure, that we arrive in these terrible latitudes on the globe in our leaky and "unseaworthy" vessel, at the time of year when the weather is at its worst and the storms are at their height.  Too late at this point .... America is history as we knew it. 

I wish I could make a list of our government folks that should have to survive on social security after all of their personal finances have been attached and taken away from them.  Make them survive like most real Americans. 

Later on I added a bit on my commentary on Captain of the ship:    There are multiple points here.

First off, Obama was handed a pile of garbage that was decades in the making.

Second, I am not sure who first likened Obama to a ship Captain in this dialogue.  That is where a  problem with Obama surfaces.

I think anybody that ever served on a ship of any sort would find Obama as somebody that would not be thought of as being the sort of person to captain a ship.

He is a smart man. He is an academic. I initially thought of him as a leader. I now feel he did not stand his ground and let his opposition push him all over the place.

Obama will not stand in my mind with some of the other Presidents that we have had in this country who stood their ground and showed strength and leadership in their convictions.

I could not imagine him as the Captain of a ship.

I can see him as a nice guy that resolves conflicts when the issue is business related and there is not all that much at stake.

This country was in a heap of trouble when Obama came into office. What was needed was a strong leader. I think Obama has many great qualities but strength as a leader has not proven to be one of them.

I do not think anybody with military experience would follow the man into combat. That is my own personal viewpoint.




The discussion continues on other social media platforms.  I continue to voice my own feelings.

From another:  actually- I think this was the stated goal of Bin Ladin- to bankrupt our country by bleeding us of our money. He attacked us knowing that we would come after him with our armies and he just had to last long enough for us to go broke trying to catch him. In the mean time we turned on each other- I have my opinion who fostered this idea but I think it was Rove and Cheney mostly- simply for consolidation of power. So again I think it is the haters of America who are winning this. Should we keep doing what Bin Laden wanted us to do ,or maybe, the smart thing would be to do the opposite?


From me on the Captain of the Ship concept:  It looks as if I was not clear on a few things. As far as being a Captain of a ship, I think Obama would not be handed over a line ship of the U.S. Navy. He would be more likely to be a Captain on a Carnival Cruise Lines ship where the Captain was little more than a figure head on display.


I should be a bit more specific. I feel Obama is a good leader in many ways. As a figurehead for the USA he is well spoken. He is not looked at by the world as a buffoon who was constantly tripping over their own words as some of this countries past Presidents. I would not have the same sort of feelings of being laughed at when I would travel to a foreign country as I felt during the previous administration.

My issue with Obama was that he did not break down on camera during some of the confrontation over the debt crisis and tell the Speaker of the House to shut up and sit down. When things are recduced to petty antics as we all witnessed it is time to step in and slap somebody. Unfortunately our system of government does not allow that sort of thing but I do think Obama should have used the television media very strongly to slap down people who were, and are, using this crisis to further their own agenda.

8/6/11

Is the U.S. Credit Rating a Victim of GOP Sabotage? http://t.co/Hdilfgs

America's Crisis Of Confidence Begins - Decline of the Empire http://t.co/FIFOEuN

8/8/11

2008 Redo? History Doesn’t Repeat, But It Often Rhymes  http://t.co/LoGJC59




8/9/11 - US Closer to Junk Bond Status Than Triple-A: http://t.co/HrQ6jtg

8/11/11

A look at the Dow's worst drops since 1899 - http://t.co/MBafL7w - Take at a look at the chart by following the link.  Ask yourself who was in office at the time. Today Democrats point at Republicans. Republicans point at Democrats. The Tea Party folks seem to point at everybody and everything. Nobody can work together. The nation is in trouble and still, nobody can work together.

8/19/11

Looks like my advice on investing in gold is receiving a bit of confirmation on at least two levels - economy declining and crime on the increase.    As price of gold climbs, a spike in jewelry store robberies, street muggings and home burglaries   My post in gold investing can be read at http://la-economy.blogspot.com/2011/08/invest-in-gold.html

California unemployment rises in July to 12%

9/6/11

25 Signs That The Financial World Is About To Hit The Big Red Panic Button:
http://theeconomiccollapseblog.com/archives/25-signs-that-the-financial-world-is-about-to-hit-the-big-red-panic-button

9/8/11

@latimes: Bernanke puzzled by weak consumer spending http://t.co/zrR85Wh .... You're kidding!!????

My take on the above story?  Just a shot in the dark - jobs lost, people without homes, banks that still foreclose and will not refinance, high gas prices which lead to higher cost of living, less spendable income (if you have income) higher food costs (transportation) higher cost of anything else that moves via gas or diesel fuel. He is puzzled? You've got to be kidding me.

9/16/11

Unelected, Unaccountable, Unrepentant: The Federal Reserve Is Using Your Money To Bail Out European Commercial Banks Once Again http://bit.ly/pJ5YMK

9/18/11

Obama to propose "millionaire's tax" to cut the deficit http://lat.ms/ngEz8C - Whew! Looks like I personally steered clear of this one! One less thing for me to worry about. It says the millionaires will now pay "at least" the same tax as the middle class? That seems a bit odd on many levels. The middle class is fading fast and this says the millionaires paid less than what was the middle class? Is this country F'kd up or what?


9/23/11



@latimes: U.S. spending billions to subsidize junk food, study says http://t.co/gNQI5Fgt


If somebody knows an easy link that shows government programs with their description and costs feel free to post it or send it to me. I would like to help our government as they appear to not be able to do much of anything by sending them a program on the books every now and then that they should cancel immediately. Not even the biggest programs. Just like trying to build a light race car, it you pay attention to the ounces the pounds take care of themselves.


9/30/11



Bullard: Fed will act if economy weakens further - http://yhoo.it/qQ78aY - seems as if everytime they "act" it is little more than an act.


Stocks fall as gloomy 3rd quarter ends - http://yhoo.it/rddXrd


US incomes fall for first time in nearly 2 years - http://yhoo.it/p800A2


“It’s Going to Get a Lot Worse”: ECRI’s Achuthan Says New Recession Unavoidable http://yhoo.it/pzU85M

http://www.seeingtheforest.com/archives/2011/09/occupy_wall_str_1.htm "We are occupying Wall Street. We will not be moved."

"Occupy Wall Street is leaderless resistance movement with people of many colors, genders and political persuasions. The one thing we all have in common is that We Are The 99% that will no longer tolerate the greed and corruption of the 1%."

Global Stock Markets Suffer Worst Quarter Since 2008 -  http://yhoo.it/poGreb

10/3/11

President Obama: America 'Not Better Off' Today than Four Years Ago
 http://gma.yahoo.com/president-obama--america--not-better-off--today-than-four-years-ago.html

10/4/11

Bad Financial News Keeps Pouring In: 14 Facts That Just Might Scare The Living Daylights Out Of You http://bit.ly/ox7MYU

10/5/11

The government ... a touch of good news to divert our view from the deteriorating situation. Behind every silver lining from our government there is one hell of a storm cloud coming. http://latimesblogs.latimes.com/money_co/2011/10/private-sector-adds-91000-jobs-but-planned-layoffs-at-2-year-high-reports.html

Unions, civic groups to join Occupy Wall Street march http://latimesblogs.latimes.com/nationnow/2011/10/occupy-wall-street-.html

10/26/11

Not a surprise, its the current American way in so many businesses, especially ones with a lot of stock holders. Produce a good product until folks think you are once again somebody to be trusted and then drop the hammer to assure short term profits - http://www.latimes.com/business/autos/la-fi-autos-consumer-reports-20111026,0,7233282.story

10/31/11

MF Global goes bankrupt, is 1st U.S. casualty of European crisis
http://latimesblogs.latimes.com/money_co/2011/10/mf-global-goes-bankrupt-becomes-first-us-casualty-of-european-crisis-.html - The Wall Street firm run by former Goldman Sachs Chairman and New Jersey Gov. Jon Corzine filed for bankruptcy Monday morning, making it the first big American casualty of the European debt crisis.

11/3/11

Poorest poor in US hits new record: 1 in 15 people  http://news.yahoo.com/poorest-poor-us-hits-record-1-15-people-040233161.html

11/8/11

http://theeconomiccollapseblog.com/archives/12-facts-about-money-and-congress-that-are-so-outrageous-that-it-is-hard-to-believe-that-they-are-actually-true

Just in case some folks thought you might be on the right track ... well, you are not.  Here is a link to the jobs scheduled to end in California - http://www.edd.ca.gov/Jobs_and_Training/warn/eddwarnlojd11.pdf




11/18/11

35 Facts About The Gutting Of America’s Industrial Might That Should Make You Very Angry
http://theeconomiccollapseblog.com/archives/35-facts-about-the-gutting-of-americas-industrial-might-that-should-make-you-very-angry

11/21/11


11/30/11

Tens Of Millions Of American Families Are Living On The Edge Of Desperation – And The Economy Is About to get Worse. http://bit.ly/uetU72

12/12/11

Why Aren't Small Businesses Getting Loans From Big Banks? http://huff.to/tnTNnF

12/27/11

I wish everybody a happy holiday season, happy new year and great 2012. I am not trying to pull a black curtain over the holiday season but here is one fellow who makes some interesting observations. He draws some conclusions where I cannot see where the supporting data comes from (the cost of the Obama vacation at 4 million dollars as an example) but there is some good reading here. On that 4 million dollar trip to Hawaii ... actually that could be a low estimate looking at what the pounds per hour fuel cost on Air Force One is, the cost of the secret service etc. - The Worst Time of the Year. http://theeconomiccollapseblog.com/archives/the-worst-time-of-the-year

2/4/12

Looks as things are going along as usual?  Is there any deception going on here?  http://theeconomiccollapseblog.com/archives/i-cant-take-it-anymore-when-will-the-government-quit-putting-out-fraudulent-employment-statistics











- The end for the moment but this post will continue to be updated -

4 comments:

  1. This is not a children's dispute or fight it is a true war for real american values being challenge by the ignorance of the Teaparty extremism and subscription to libertarian values totally in opposition to our constitution and following the AynRand "Virtue Of Selfishness" idol. Republicans want to impose this on all, Democrats are defending this outrage!!http://mahilena.typepad.com/blog/2011/05/fallacy-behind-ayn-rand-individualismcapitalism-vs-the-american-constitution.html

    ReplyDelete
  2. @Mahilena
    Both Political Parties are in the pockets of Corporate America. Thinking that Democrats have the answers is just a vote for "Progressive-ism". A simple search on the internet will show you what that is all about = Neo-Socialism. Sorry I do not what a world of shared poverty & pseudo Marxist ideas.

    The current mess is a combination of deregulation from both the Clinton Administration & the Bush Administrations.

    To try to summarize the entire Tea Party movement as an extension of "Rand-ism" is a false one. Your anger at the Tea Party is though well intentioned is misguided.

    The real political battle going on right now is the battle of the free individual & free society vs the current Corporatacracy where the current government is largely influenced by corporate interests.

    They own the media & the politicians so pretty much anything that does not serve their profitability will not hear heard about or addressed. Virtually the last place on earth where you can get true data & real stories is the internet but even that is a job sifting through the various viewpoints.

    While disagree with the atheist aspect of Rand's work much of her writings had to do with the individual rising above the MOB or the Collective Subconscious which tries to strike down anyone who would rise above it.

    The real enemies lie in the vast Big Oil & Big Pharma cronies of the Bush administration & the Wall Street crowd of the Obama Administration. Ron Paul & the Libertarians are more YOUR friend then any other political group out there. You are swallowing the hype.

    Wordpress ID: KR1963

    ReplyDelete
  3. Appreciate your comments but disagree. There is no such thing as neosocialism inthe sense of anyone trying to make America socialist. This is a false interpretation and defense against those of us who disagree with Austrian type "trickle down" economics. Regan began the fight against our Government as the Beast that must be starved" and promote the elimination of all efforts to protect the least powerful and the least able to compete. AynRand Austrian Economics is survival of the strongest and the Free Market as the solution to all problems and the God of all aspects of our lives including religion, family etc...this is incorrect Self correcting Free Markets will dictate the elimination of the weakest and OUR CONSTITUTION's interest in Domestic Tranquility and promoting (enhancing) common welfare and acting as a referee between competing capitalists is what has made America Exceptional. Our Government is what we should be proud of and not the false pretenses that Free Market leads to absolute freedom. This is a fallacy. There are millions of Americans in poverty and defenseless against an economic machinery that if not guarded against by government can destroy the nation as a heartless monster embracing everthing. The Obama administration is making sure that this does not happen and I favor this 100%

    ReplyDelete
  4. My problem with the whole thread is that it is pointing out what the government isn't doing. I agree that what they are not doing is a whole lot and a lot of what they are doing is more self-serving than helpful.

    However, somebody has to do something. I cannot fix the whole problem, but PERHAPS I can fix mine. If I can't find a job out there (20 months and counting) then maybe I have to create a job for myself. I have an idea, I need to learn how to set up a business and getting it running. I need a bit of capital, but that isn't nearly as important as how to set up & start.

    I think that those of us who are in this same bad economic place are all going to have to do something just like that. The 50's through 80's economic era was great for its time, but it looks as though that time is past and we, each of us, is going to have to find some niche in which to survive.

    I have confidence in the American People. The government will take credit for the recovery, but it will be driven by the will and ingenuity of each of us who finds ourself at the edge of the cliff and decides to turn aside rather than simply step off.

    I saw this time and again in business...at company-wide meetings the C-level management would spout about how the people were their most important asset. I'm sure they thought they were just stroking the peons, but they were right-right-right. The front-line and second-tier workers were producing everything the company brought to market and the upper echelon took both credit and reward for it.

    Now it seems that we, the people, are on our own and we have to use our talents to survive, and survive we will once we look past "What's Available" and look to "What's Needed" and work to supply that.

    ReplyDelete