RECESSION CONFIRMED

23 comments

Posted on 29th May 2015 by Administrator in Economy |Politics |Social Issues

It must have been the cold weather. Maybe those millions of newly employed workers are so busy at work, they don’t have time to spend all that money they are making. The 4th quarter GDP was solely boosted by Obamacare spending and higher utility spending. The 1st Quarter is now at NEGATIVE 0.7%, to be revised lower in the future when no one is paying attention. The Fed’s own model shows 2nd quarter GDP near 0%. Anyone with two brain cells, can see that 99% of the people in this country are experiencing a recession. The expansion is only occurring on Wall Street and K Street. That’s the way they like it and that’s the way it will be reported on CNBC and the rest of the dying legacy media mouthpiece networks. So it goes.

“Welcome To The Contraction”: Q1 GDP Drops By 0.7%, Corporate Profits Crash

Tyler Durden's picture

And you thought the preliminary 0.2% Q1 GDP print from last month was bad. Moments ago, just as we warned, the BEA released its latest, first, revision of Q1 GDP (pre second-seasonal adjustments of course), and we just got confirmation that for the third time in the past four years, the US economy suffered a quarterly contraction, with the Q1 GDP revised drastically from a 0.2% growth to a drop of -0.7%: the worst print since snow struck, so very unexpectedly, last winter.

Incidentally, there has not been a US “expansion” with three negative quarters in it in the past 60 years.

Worse, the breakdown shows that far from being a non-core slowdown, consumption rose just 1.8%, below the 2.0% expected, and contributed just 1.23% of the bottom line GDP number. This was the worst Personal Spending contribution since Q1 of last year, when revised GDP dropped by -2.11%.

What is disturbing is that as noted before, inventories contributed the biggest component of Q1 GDP growth, adding $95 billion in real terms to Growth. Without that contribution, GDP would have been worse than -3%!

And worst of all, was the plunge in corporate profits. According to the report:

Secularists vs. Suicide Bombers

8 comments

Posted on 29th May 2015 by Administrator in Economy |Politics |Social Issues

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Guest Post by Patrick J. Buchanan

Secularists vs. Suicide Bombers

“What apparently happened was that the Iraqi forces just showed no will to fight. … We can give them training, we can give them equipment; we obviously can’t give them the will to fight.”

Thus did Defense Secretary Ash Carter identify the root cause of the rout of the Iraqi army in Ramadi.

Disgusted U.S. military officers say the 1,000 ISIS fighters who overran Ramadi were outnumbered by the defenders 10 to 1.

Why did the Iraqi army run? And what motivated the fighters of ISIS to attack a city whose defenders so vastly outnumbered them?

According to battle reports, the assault began when dozens of captured U.S. armored vehicles and trucks, laden with explosives, were driven by ISIS volunteers to blast huge holes in the defenders’ lines.

Why do all the martyrs seem to be on their side? And why is it our side that, all too often, shows “no will to fight”?

Iraqis are not cowards. From 1980 to 1988, their fathers died in the scores of thousands defending their country against Iran. But if Iraqis would die for dictator Saddam Hussein, why does today’s Iraqi army seem reluctant to fight for the democratic Haider al-Abadi?

And the story of Iraq is the story of Syria.

Four years into that civil-sectarian war, the al-Qaida Nusra Front has carved out a sector in Idlib, as have the Islamic State terrorists in Raqqa. Bashar Assad’s army, though bleeding, is still fighting.

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THE REAL REASON FOR THE FIFA ARRESTS

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Posted on 29th May 2015 by Administrator in Economy |Politics |Social Issues

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Most Americans are completely unaware of FIFA or what it does, and only a bit more aware of the World Cup and non-US football. Unless they are school age children perhaps, the parents of same, or recent immigrants from Europe and South America.

The official reason for the US to proceed with prosecutions of FIFA this week, after a 24 year investigation, is that the payoff schemes involved some of the Wall Street Banks. Since it is unlikely that there will be any action against these same Banks, one wonders as to the reason and the timing for this.

This week FIFA was expected to sanction Israel on Wednesday for their truly terrible treatment of Palestinian football clubs. And the US was perturbed that Qatar was chosen as the 2022 World Cup host, despite their awful human rights record, and record donations to the Clinton Fund, and loyalty to the US ambitions in the Mideast. And finally, FIFA dared to award the 2018 World Cup to Moscow.

Have you noticed that this FIFA prosecution, which so few understand and care about in the States, is getting so much more media coverage than the latest massive thefts by the Banks in wholesale rigging in the forex markets, for which no one is being prosecuted and no serious reforms are being undertaken? There are risks in standing in any way against the will of an empire.

And besides, FIFA is THEIR scandal, and it serves to distract from OUR scandals. 

Via Jesse


QUOTES OF THE DAY

0 comments

Posted on 29th May 2015 by Administrator in Economy |Politics |Social Issues

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“And what happens when PR turns a profit, and truth goes penniless?”

Bill Moyers

 

“Insanity is doing the same thing, over and over again, and expecting different results.”

Albert Einstein

 

“Has he lost his mind?

Can he see or is he blind?

Now the time is here

for Iron Man to spread fear.”

Ozzy Osbourne, Iron Man


IDIOCY OF THE MSM TALKING HEADS

4 comments

Posted on 29th May 2015 by Administrator in Economy |Politics |Social Issues

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If ever you wanted proof of how pathetic and coordinated your mainstream media organizations have become, here it is. These faux journalists are paid to read the exact same stories on every network. Their job is to keep you fearful and obedient.

PET ME

3 comments

Posted on 29th May 2015 by Administrator in Economy |Politics |Social Issues

Via Lonely Libertarian


McCain Urges Military Strikes Against FIFA

6 comments

Posted on 28th May 2015 by Administrator in Economy |Politics |Social Issues

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Guest Post by Andy Borowitz

WASHINGTON (The Borowitz Report) – Calling the Obama Administration’s actions against the soccer organization “weak and ineffective,” Senator John McCain on Thursday proposed military action to “dismantle and destroy FIFA once and for all.”

“These are people who only understand one thing: force,” McCain said on the floor of the United States Senate. “We must make FIFA taste the vengeful might and fury of the United States military.”

McCain said that he was “completely unimpressed” by the Department of Justice’s arrests of several top FIFA lieutenants this week, calling the action “the kind of Band-Aid solution that this Administration, sadly, has become famous for.”

“Rounding up a few flunkies in a hotel is meaningless when the leader of FIFA remains at large,” he said. “I will follow Sepp Blatter to the gates of Hell.”

McCain requested a four-billion-dollar aid package for moderate elements within global soccer, and said that the United States should be prepared to put boots on the ground in Switzerland.

Calling the use of force against FIFA “long overdue,” he placed the blame for the group’s alarming growth squarely on the shoulders of the White House. “Barack Obama created FIFA,” he said.


LIMELIGHT

5 comments

Posted on 28th May 2015 by Administrator in Economy |Politics |Social Issues


OPEN MY EYES

9 comments

Posted on 28th May 2015 by Administrator in Economy |Politics |Social Issues


Turn Out the Lights and Lock the Door

24 comments

Posted on 28th May 2015 by Administrator in Economy |Politics |Social Issues

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Guest Post by Fred Reed

I Hear the Fat Lady Singing

Breitbart: A white man in Baltimore was sitting in his car when two female er, teens got into a fight. To continue this enterprise they climbed atop his car, perhaps mistaking it for a tree. He got out and asked them to take their dispute somewhere else, whereupon fifty er, teens beat him nearly to death, leaving him with $200,000-$400,000 in medical bills. The daily grind. Life as usual. If fifty whites similarly beat an er, teen, cities would burn and the media would go crazy. In this case, silence will prevail. American-Africans can do no wrong. But something is wrong in America..

We read over and over of the Culture Wars, and the War between the Sexes, of Red States and Blue States, as if these were amusing disputes between parents and adolescents in a sitcom. Methinks something far uglier and more dangerous brews.

Almost daily, friends send me links to accounts of what seem to them, and to me, lunacy, usually accompanied by notes expressing incredulity and—this will matter one day–anger. The stories deal with things utterly repugnant to much of the country, especially the South and West, the blue collar, the military, and much of the Mid-West:: racial lawlessness, glorification of every sexual weirdity anyone can imagine, hostility to Christianity (but not to Judaism or Islam), phony charges of rape, compulsory Ritalin-ingestion, grotesque affirmative action in the hiring of cops and firemen, attacks on academic standards, little boys dragged from school in handcuffs for drawing a soldier, the anti-gun crusade, the truffle-hound search for “stereotypes” and discrimination, and the denigration of masculinity and every aspect of white European culture.

And, always, always, the suppression of news of the unending vicious attacks by er, teens, on whites. This latter goes beyond bias into undeclared censorship. Er, teens can loot, burn, and rape, and not much happens to them, but if you are white and say “nigger” in an email, you lose your job.

We have two countries that do not like each other at all.

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SOMETHING SMELLS FISHY

30 comments

Posted on 28th May 2015 by Administrator in Economy |Politics |Social Issues

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It’s always interesting to see a long term chart that reflects your real life experiences. I bought my first home in 1990. It was a small townhouse and I paid $100k, put 10% down, and obtained a 9.875% mortgage. I was thrilled to get under 10%. Those were different times, when you bought a home as a place to live. We had our first kid in 1993 and started looking for a single family home. We stopped because our townhouse had declined in value to $85k, so I couldn’t afford to sell. In 1995 I convinced my employer to rent my townhouse, as they were already renting multiple townhouses for all the foreigners doing short term assignments in the U.S. We bought a single family home in 1995 with the sole purpose of having a decent place to raise a family that was within 20 minutes of my job.

Considering home prices on an inflation adjusted basis were lower than they were in 1980, I was certainly not looking at it as some sort of investment vehicle. But, as you can see from the chart, nationally prices soared by about 55% between 1995 and 2005. My home supposedly doubled in value over 10 years. I was ecstatic when I was eventually able to sell my townhouse in 2004 for $134k. I felt so smart, until I saw a notice in the paper one year later showing my old townhouse had been sold again for $176k. Who knew there were so many greater fools.

This was utterly ridiculous, as home prices over the last 100 years have gone up at the rate of inflation. Robert Shiller and a few other rational thinking people called it a bubble. They were scorned and ridiculed by the whores at the NAR and the bimbo cheerleaders on CNBC. Something smelled rotten in the state of housing. We now know who was responsible. Greenspan and Bernanke were at least 75% responsible for the housing bubble and its eventual implosion, which essentially destroyed our economic system. They purposely kept interest rates at obscenely low levels, encouraging every Tom, Dick and Julio to buy a home with a negative amortization, no doc, nothing down, adjustable rate mortgage, so they could live the American dream of being in debt up to their eyeballs.

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HILLARY HITLER

6 comments

Posted on 28th May 2015 by Administrator in Economy |Politics |Social Issues

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Hat tip Boston Bob