Category: Economy

Dr. Ron Paul’s Speech to the Virginia Tea Party

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(H/T The Daily Paul)

This is from October 9, 2010.

Just a couple bones of contention with the above:

  • Paul’s assertion that unborn life should be protected by the Federal Government is absurd. I do not believe that the Federal Government has the right or the obligation to protect much of anything at all; except those things outlined in the United States Constitution — nothing more, nothing less. What Dr. Paul is doing here is repeating the nonsense of the Christian Right. Which is, as far as this writer is concerned, pure rubbish. If people believe the practice of Abortion is such a horrific thing, let them rise up and organize, and challenge the STATES to outlaw the practice of abortion.  Keep the Federal Government out of the business of the people’s bodies.
  • Paul’s idea that we should eliminate all Government programs like Social Security, is unrealistic; and it would hurt people — like my parents, who paid into the program for years. Does Ron Paul want to harm my parents? I would hope not.
  • Paul’s idea of trust and friendship with all Countries is naive at best. The inconvenient truth is that there are Countries and Regimes out there that want nothing more, than for the United States of America to be utterly and totally destroyed.  Even China is now worrying the Military leaders, as there seems to be those within the Chinese Military who see the United States as an enemy. This should worry many Americans, as we do borrow large amounts of money from this Country. Let us also not forget what happened to John Birch in that Country as well. There is also the terrorism argument as well; but I am fully aware that much of that, is due to our foreign policy decisions of the past. However, for us to foolishly assume that if we tell Islamic terrorists that we do not wish to harm them, that they will not attack us again, would be an exercise in extreme stupidity.
  • As a Paleo-Conservative type; I disagree with Ron Paul’s idea of unfettered Capitalism, AKA Globalism. I believe that globalism has hurt this Country, namely the economy here in the Detroit, Michigan area. TAFTA, NAFTA and all the rest of these idiotic free trade agreements should be repealed and heavy tariffs should be imposed on anyone that wishes to manufacture product outside of the United States of America and import it into this Country.

All of the rest, I pretty much agree with, especially when it comes to fiscal policy and the federal reserve.

Holy Cow!: Democratic Party Representative John Dingell at 39% in polling

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(H/T on this story to Ed Morrissey over at HotAir.com….)

As a rule, I do not get too excited about polls — but this one here, is a stunner!

From my hometown paper — The Detroit Free Press: (which by the way leans more Liberal —- Unlike the Detroit News; which is more libertarian leaning. )

A new independent poll has the dean of the U.S. House, Rep. John Dingell, trailing his Republican opponent, Rob Steele, by 4 percentage points.

The automated phone survey of 300 people in the 15th Congressional District showed Steele getting 43.8% of the vote. Dingell, a Dearborn Democrat and the longest-serving member of Congress, got 39.5%. About 11% were undecided. The gap is within the poll’s margin of error of plus or minus 5.6 percentage points. The poll was conducted Monday.

Dingell’s campaign said the survey — conducted by the Rossman Group of Lansing and Team TelCom — is a Republican front and is contradicted by other polls in recent weeks.

Team TelCom’s president Gary Reed has Republican ties, but Kelly Rossman-McKinney, CEO of the Rossman Group, has Democratic roots.

“It’s kind of what we hear on the ground. We’re hearing from everybody about the need for change and the need for someone who is not a career politician,” Steele said.

Ed Morrissey interjects:

Having Steele ahead is certainly newsworthy, but the bigger takeaway here is just how badly Dingell polls in this race after almost 56 years in Washington.

Why?  In part, Michigan’s economic woes play into the national anti-incumbent mood.  The state has followed the same kind of economic plan that Nancy Pelosi and Barack Obama have tried to implement on a national scale, and they’ve been doing it longer.  Michigan voters can see the end game even more clearly than voters nationwide, and it’s no surprise that Michigan might clean House in three weeks.  Part of it, though, is Dingell himself, who has a habit of saying foolish things, and saying them on national TV.

Not only this; the bigger point is that not all of Michigan is liberal blue. I can tell you of areas that are, in fact, very Conservative and they’re not the rich, upper middle class areas either. There are some middle, working class area that have been in the Republican camp for years. Generally the further south, north, east and west of Detroit you go. The more Conservative politically it gets. Detroit proper is solidly liberal; but the suburbs is a mixed bag.

The bigger point is this; and it was articulated by Mr. Morrissey very well; people here in Michigan are just fed up. The Democrats have held the keys here forever and day. The Democrats have, along with the inaction of Republicans who were in power back when the signs that the housing market was going to crash — basically screwed this area into the ground. Michigan’s housing market is, bluntly —- terrible. This was caused by the Democrat’s stupid idea of social engineering of the housing market. The Carter Administration started it and Clinton Administration continued it. This is not even to mention the globalist NAFTA and TAFTA agreements that were signed into law by the Clinton Administrations; which in effect hobbled the Automotive industry here in Detroit. Why do you think that the UAW here in Detroit did not make a endorsement of the Democratic Candidates, until after the primary was finally over? Because the UAW’s memory is long and they remember how Clinton sold them up the river.

Plus, too, Jennifer Granholm’s performance here as Governor of Michigan has been described as horrific at best. Her policies and style of Governorship in this state has been just awful. Even my Father, who is a committed Democratic Party voter, cannot stand the woman. It has not been uncommon to hear the phrase, “Send that bitch back to Canada, where she belongs!” to be said in the context of a conversation about her. That is kind of nasty; but that is the feeling about her around here. This might be the reason why when her Lt. Governor John D. Cherry did a test poll to see how he would fare in a election, the result was a resounding, “HELL NO!” and he scrapped his plans to run for Governor.

Now The Blog Prof wonders:

If Dingell isn’t safe in Detroit, is any Democrat safe anywhere?

Now because I am a realist. I believe there are some safe Democratic Districts  Hansen Clarke will get Michigan’s 13th congressional district. I just do not see a Republican winning that. Unless a miracle happens.

Either way, this is going to be a very interesting election cycle. It is 25 days away from election day. I cannot wait to vote. 😀

News: Mid-Week Market Report on SP500, Oil, Gold & Dollar

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Some interesting news:

Wednesday the market didn’t tell us anything new. The equities market is still over extended on the daily chart but the market is refusing to break down. Each time there has been seen selling in the market over the past two weeks, the market recovers. Equities and the dollar have been trading with an inverse relationship and it seems to drop every in value each selling pressure enters the market, which naturally lifts stocks.

That being said, sellers are starting to come into the market at these elevated levels and it’s just a matter of time before we see a healthy pullback/correction. The past 10 session volatility has been creeping up as equities try to sell off. There will be a point when a falling dollar is not bullish for stocks but until then it looks like printing of money will continue devaluing of the dollar to help lift the stock market. Some type of pullback is needed if this trend is to continue and the markets can only be held up for so long.

Below is a chart of the USO oil fund and the SPY index fund. Crude has a tendency to provide an early warning sign for the strength of the economy. As you can see from the April top, oil started to decline well before the equities market did. This indicated a slow down was coming.

The recent equities rally which started in late August has been strong. But take a look at the price of oil. It has traded very flat during that time indicating the economy has not really picked up, nor does it indicate any growth in the coming months. This rally just may be coming to an end shortly.

Read the rest… Here.

Video: When you have lost the Home Depot Crowd, you have lost America

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A nice three in a row from the founder of …..Home Depot.

Quite bluntly — if you have lost this man and the people that frequents his stores; you are toast.

The Videos: (H/T to HotAir.com)

I can tell you right now; Obama is not getting elected in 2012; it is over for the “Hope and Change” era. Over quicker than it started.

Now, I await two things; one, I await for some identity politics ogre, to start carping about how this man is just some angry white racist bigot. Second, I await some liberal to say that this guy is just some angry rich white businessman. Well, let me be the first to tell you all something here. I happen to know a little about the crowd, who hangs around Hope Depot.

Contrary to what some might actually believe. The good majority of the people who buy products at Home Dept are the people; that are commonly known as the backbone of America in this globalist age —- Small Business owners; and the Obama Administration, with the sun-setting of the Bush tax cuts — is basically targeting that group of people. Granted, not all business owners make that kind of money. However there are those that do, and they usually have employees and when taxes increase on those people, sometimes, especially with the smaller businesses; employees have to be laid off, because the “overhead” is just too much of burden on those business people. This should be just common sense, but when you are dealing with socialist left, common sense tends to run in short supply. When you let someone go like that, that causes the said person to not be able to spend money to contribute to the economy; which hurts the service industry, and so on. Not to mention the fact that that person will have problems paying his bills.  It is a vicious cycle and it gets worse as the cycle progresses.

You see, that is one thing that I have been trying to make clear here; and I guess I will just have to say it — most likely again. I am sure I have written here in the past. Anyhow, I do not write on this blog to defend the multi-billion dollar companies. They do not need my help; they have their P.R. companies and such. I write for the small business owner and the working man, who decides to go into business for himself; painting walls, building kitchens or whatever sort of trade that he desires to do; like driving a truck or whatever. Those people should be helped, not targeted for taxes and other such stupidity that the socialist left tries to cook up. Like it or not, my friends — but the small business owner and their businesses are the backbone of America. Yes, sure, General Motors, Ford, and Chrysler have their place, as do every other big business. However, it is the small business owner, the entrepreneur that embodies the true Spirit of America.  That is who I defend and will continue to here on this blog.

The blog is, and will always be — the Blog of the working man. Not the rich man — but those who work for themselves.

A song in tribute to whom I write for:

Patterico makes a pretty fair point, BUT!

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I hate to say it; but when the guy makes sense, the guy makes sense:

And make no mistake: voters probably handed a Senate seat to Democrats last night. Castle voters were polled and said they prefer the Democrat 2-1 over O’Donnell. It’s not impossible for her to win if the stars align just right. But wishing upon the stars works in the movies; in real life, not so much.

After O’Donnell’s victory, Sarah Palin issued a call for “unity” among Republicans. I fully support this and support candidate O’Donnell. She has deep flaws, but I’d rather see my flawed candidate in the Senate than the other side’s flawed candidate.

However, I can tell you that Palin’s “unity” directive is going to be hard to implement.

Part of the problem is the Republican establishment, which let slip the fact that they do not intend to give O’Donnell a cent to pursue her quixotic ambitions. The decision not to fund her mostly hopeless candidacy is defensible. The decision to announce that decision on election night is unforgivable.

If O’Donnell loses — I’m thinking “when” but saying “if” for the sake of our “unity” — Tea Partiers will not look for blame in the mirror. Establishment Republicans have given them a ready-made scapegoat, and they will flog it all the way to 2012.

Another part of the problem lies in the insufferable gloating of O’Donnell supporters over what was a fairly predictable primary victory. It does not foster “unity” to declare that O’Donnell beat “Mike Castle, Allahpundit, Charles Krauthammer, and Jim Geraghty.” It does not foster “unity” to label Paul Mirengoff a “loser” who needs to wear a dress for noting the obvious obstacles O’Donnell faces. If Twitter is any reflection of the mood among conservatives, I saw civil war last night. The Levin acolytes going around mimicking his name-calling behavior are hardly seeking “unity.”

With all their toldya so’s, you’d think these people had won the general election instead of handing it to the opposition.

If Sarah Palin truly seeks “unity,” at some point she is going to need to rein these people in.

Indeed, Patterico makes a good point. However, there is another side to this story; which I want to share with you all.

I was talking in private with Dan Riehl and I mentioned that I live here in the Detroit, Michigan area. Quite bluntly folks; The Democratic Party’s socialist policies; have screwed this area straight to hell.  30% Unemployment just in the city of Detroit. 30% —- that is a whole bunch of people out of work! In the proper CITY alone! Let’s not even get into the percentage of people that are unemployed here in the suburbs! Believe you me; it is a MUCH, MUCH, MUCH more, than you might think! That is not even mentioning the people that are, what is referred to as underemployed — or not making enough to even making their bills. Like family members of mine, who are just barely getting by.  We need a business-friendly political climate in Washington DC, not to mention in Michigan — so that Business owners can start putting people back to work — with jobs, real jobs, where people; like those in my family with houses, and children and bills — can make a decent living again.  (…and If *I* happen to score a job too, all the better, this writing and not getting paid is getting a bit old!)

Here is my point: O’Donnell might be a little nutty; she might have been a little dishonest in the past. However, if she can win this election; and makes it to DC and can reverse course on this damned socialist nightmare that we have upon us; especially here in Michigan — then damn it, I am ALL for it!

Here is my other point: Our Nation and the state of Michigan is in a serious crisis; we need real Republican ideals to get this nation back to work. Not RINO, Democratic Party lite stupidity. That sort of crap might have worked by in the days of prosperity; but let me be the one to “wee wee” on the RINO Parade —- That party is over folks, that ship sailed long ago and it is time to get back to our principles of Conservative values. If the Republican Party and the Conservative establishment does not do this; the Republican Party will die and the Nation; as we know it now, might just die with it — and in the end, we will be handing the socialists the victory they so very much desire in the end.

Now as for O’Donnell’s supposed dishonesty… here she is defending herself against the smears: (H/T HotAir)

I think she will be alright. Everyone just needs to give her a chance. Especially the Conservative establishment.

Message from Rick Snyder Republican Candidate for Michigan Governor

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This popped into my e-mail inbox this morning…. :


Dear Supporters,

Last night I held my 59th town hall meeting in Westland. My opponent showed up so I invited him to take part in the event. I’m happy he was able to attend; it was a good opportunity to discuss the issues important to Michigan.

This is what democracy is all about – real people asking tough questions and getting straight answers – not scripted, 30-second sound bites. I plan to keep holding these town hall meetings until Election Day to talk about my 10-Point Plan to Reinvent Michigan so voters can hear directly from me about my positive vision to create more and better jobs.

We are now only 49 days away from Election Day and need your help to add to our momentum. Please consider donating to our campaign. Your contributions go directly to spreading our positive message and bring us closer to our goal of reinventing our great state.

I am grateful for your continued support. Together we will succeed in Reinventing Michigan.

Regards,

The truth is folks, we need new ideas and much better leadership to bring back jobs here in Michigan. The Democrats have utterly failed here in the State of Michigan. I personally have been affected by this whole mess; I have been out of work since 2005. It is a depressing mess around here and it is sad to see a State and a big city, like Detroit, to go in ruins; because of the socialist stupidity of the Democrats. Not to mention the idiotic actions of globalists who sold Detroit up the river. We can turn that around; but Democrats are not going to be the ones to do that. We need a friendly business climate here, so that jobs can return to this once great State and the once great city of Detroit. Would you believe it, if I told you that Detroit’s unemployment rate is a 30%? That is just in Detroit alone. Not counting the suburbs. The truth is that Democratic Party Socialism has RUINED this great State and the city of Detroit. It is time to start over from scratch and rebuilt. Rick Snyder and the Republicans in Michigan can will do that. But they need your help; the Democrats are funded much better the Republicans here in Michigan. So, if you can… Give, help put Michigan and more importantly, Detroit, Michigan back on the map in America.

So, you know what that means:

SUPPORT RICK SNYDER FOR GOVERNOR OF MICHIGAN!

Stock and Gold Advice: Gold forms Overbought Rising Wedge at Resistance

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Please note, this is a sponsored posting…

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(via The Gold and Oil Guy)

Sunday Sept 12
Precious metals soar as investors flock to gold and silver. But are they looking deep enough to truly understand the current trends at hand?

When reviewing the metals sector I like to look at it from different angles to get a solid understanding of the patterns and trend forming. I follow multiple time frames along with monitoring the gold mining stocks. Gold stocks tend to lead the price of gold bullion and when its out performing the price of gold substantially by 10% or more you should be expecting a pause or pullback in both gold stocks and gold bullion prices temporarily.

Below are a few charts showing the long and short term trends for gold.

Gold Bullion Price – Weekly Trend Chart

Gold continues to be in a strong up trend. The occasional test of support at the major moving averages can provide great long term points for adding to a position. The 50 period average is one which is tested frequently.

Looking at the weekly chart does give me a red flag for the intermediate price of gold. While the trend is clearly up I can’t help but notice the rising wedge which is a bearish pattern. During an uptrend we want to see bull flags and pennants, not a grind higher forming a narrowing range. This grind higher could unfold much similar to the price action of 2005 and 2007 instead of a correction but I am leaning more towards a sharp correction because more people are bullish on gold now then they were during the June top.

For those looking at gold as a long term investment/currency can be patient and wait for a pullback to a major moving average before adding to your position then you would lower your overall risk for this position. You will understand after reviewing the following charts.

GLD – Gold Bullion ETF – Daily Chart

(This fund moves identical to spot gold price so even though I am showing you GLD fund, the spot gold chart is doing the exact same thing.) As you can see below the price of gold is trading at resistance and becoming choppy. Buying gold at resistance does not make much sense to me. There is a very good chance gold will move lower in the coming weeks providing a better price for long term investors to add to their positions. For example, if you waited for the weekly chart to pullback to the 50 period moving average that would be like buying this GLD fund at $113, which is an 8% discount.

Gold continues to hold up within its channel but this week we could see fireworks if the price breaks below the blue support channels.

Gold:Gold Stocks Comparison – Daily Chart

This chart shows the performance of gold vs gold stocks from the Feb 2010 lows. The blue line is the performance of gold stocks while the red line shows gold’s performance. It’s obvious that when everyone is bullish on gold they buy the highly leverages gold investments in order to take full advantage of the upcoming move. This is much like reading the put/call ratio for trading the SP500 and it measures the bullishness of the precious metals sector.

When gold equities are strongly out performing gold bullion you should be thinking about raising your stops, taking partial profits and or hedging your long term position until the sector stabilizes is not trading at a premium.

Precious Metals Sector Trading Conclusion:

In short, Gold is in a strong up trend and will remain in one for a long time. Commodities have higher percentage of going parabolic. That means there’s a small chance that gold continues to move up quicker and quicker surging hundreds of dollars in a very short period of time. That being said, it’s not very likely, and from a technical point of view those buying gold now are paying a premium in my opinion.

Being a patient trader is not easy, but waiting for low risk entry points is very rewarding on many different levels when done correctly.

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For questions or to get great stock, oil or gold advice like this, please head on over to the gold and oil guy’s website.

Video: Is this is the future of America in 5 or 10 years?

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(H/T to Richard Spencer of Alternative Right)

I think it’s time we got real; before we lose everything.

Stock and Precious Metals Advice: Precious Metals Equity Index Form a Triple Top, What’s Next?

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Please note: This is a sponsored posting.

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Via Chris Vermeulen AKA The Gold and Oil Guy:

Wed Sept 8th, 2010
I am going to step out on a limb in this report and cover what I think to be an intermediate top in the precious metals sector. Everyone I speak with and from the hundreds of emails I get I would say the vast majority are bullish on gold and silver. That being said, I feel we are 3-8 days away from a pop and drop in the price of gold.

Below are my explanation and charts of what I think is unfolding.

HUI – Gold Bugs Index

This chart tracks a basket of gold companies and can be used as a leading indicator for gold bullion at times. This index tends to lead the price of gold before rallies and also during declines. I have seen this lead by a few hours and even up to 7 days. I find it out perform when gold is about to rally, and under perform when gold is topping or about to start another move down.

It looks as though we are forming a triple top which also happens to be at a previous 2009 resistance level. Each time this level has been reached sellers take control and send the market sharply lower. There have been several long upper wicks formed in the past few sessions telling me that buyers are pushing the price up, but sellers hit the sell button pulling the market right back down. If this triple tops plays out, I would expect a multi month correction to take place.

UUP – US Dollar ETF

The US Dollar looks to have found support at the March/April lows and has put in a very solid rally. If the chart pattern is correct then it looks as though the dollar will breakout to the upside and run to $24.75 area. The relationship between the dollar and the precious metals sector is generally inverse, meaning if the dollar rallies both gold and stocks should fall.

GLD – Gold Bullion ETF

The chart of gold has identical patterns no matter if it’s this ETF or spot gold price. So this analysis goes for both ETF and gold bullion prices. Anyways, the past two times gold rallied for this length of time without any sizable pauses we saw the price of gold drop $70 per ounce, and $140 per ounce which is equivalent to $7-$10 drop on this GLD fund which is a decent size move.

The chart is screaming of a nasty correction to occur any day now. With gold testing the June highs I feel its only days away. What I am looking for is a pierce of the June high. That will suck in the rest of the bulls as they jump on the band, and cause all the shorts to cover their positions. This causes a pop, and once buying starts to dry up, the big money will start to sell down the price to trigger the stops and start a multi day waterfall sell off.

With the declining volume as the price grinds its way higher it tells me fewer individuals want to buy in at these high prices. Once the price starts to slide it will cause the stops to triggered. And because there have not been any substantial pullbacks along the way, there is a larger number of stops sitting in the market waiting to get hit.

Mid-Week Precious Metals Trading Report:

In short, I feel precious metals are on the verge of a sharp correction which may only last a few days, but the drop will be substantial. I still think we could see a few more up days or sideways session before this happens as the June high for gold bullion should be penetrated before the market truly reverses back down.

Anyone long gold, silver or PM stocks should be thinking of tightening their stops and for the gold bugs to mentally prepare them selves for a correction.

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For more great Stocks and Precious Metals Advice. Please click here and sign up for this great service.

The Obligatory Obama will not extend Bush Tax Cuts Posting

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Well, duh, he is a liberal and a Democrat. He does believe in class warfare. Remember you Republicans and Libertarians that voted for him. (You know who you are…)

Via the NYT:

WASHINGTON — President Obama on Wednesday will make clear that he opposes any compromise that would extend the Bush-era tax cuts for the wealthy beyond this year, officials said, adding a populist twist to an election-season economic package that is otherwise designed to entice support from big businesses and their Republican allies.

Mr. Obama’s opposition to allowing the high-end tax cuts to remain in place for even another year or two would be the signal many Congressional Democrats have been awaiting as they prepare for a showdown with Republicans on the issue and ends speculation that the White House might be open to an extension. Democrats say only the president can rally wavering lawmakers who, amid the party’s weakened poll numbers, feel increasingly vulnerable to Republican attacks if they let the top rates lapse at the end of this year as scheduled.

It is not clear that Mr. Obama can prevail given his own diminished popularity, the tepid economic recovery and the divisions within his party. But by proposing to extend the rates for the 98 percent of households with income below $250,000 for couples and $200,000 for individuals — and insisting that federal income tax rates in 2011 go back to their pre-2001 levels for income above those cutoffs — he intends to cast the issue as a choice between supporting the middle class or giving breaks to the wealthy.

In a speech in Cleveland on Wednesday, Mr. Obama will also make a case for the package of roughly $180 billion in expanded business tax cuts and infrastructure spending disclosed by the White House in bits and pieces over the past few days. He would offset the cost by closing other tax breaks for multinational corporations, oil and gas companies and others.

While the speech will be centrist in its policy prescriptions other than the Bush tax cuts, Mr. Obama’s language will be partisan as he seeks to sharpen the contrasts between Republicans’ record and efforts by Democrats to create more jobs, aides said.

As much as I would like to jump up, holler and raise a fuss about this; I cannot. We all knew that this was coming. This should be a lesson to the Republican Party. That is, do not run weak or moderate Conservatives during elections. Because when you do; Conservatives, and I mean hardcore Conservatives will not vote — and this is what you get. I know that I, personally, will not be affected by this; neither will my family.

However, I am sure that there will be some families affected by this —  not to mention a myriad of business owners out there. This will, I am sure, cause a downtown in hiring by businesses; which will add to the huge downturn in the economy. It is all a domino effect, starts at the top and goes to the bottom.

Another thing to think about; we do have to eventually pay for these two wars. I believe that those who profited off of both of these wars ought to be targeted for taxing. I believe that a special “War Tax”, ought to be appended to anyone making over $500.000 or more a year. I would target multinational companies, like oil companies and so forth. Especially those in Iraq. Perhaps next time, the warmongering class will not be so eager to start a war next time. This taxing would reinforce the idea that those wanting said war, should they actually have to pay for it. Foreign Policy has a price tag; and those who want follow Woodrow Wilson’s steps, should be required to pay that price tag.

Memorandum Thread.

Video: Recovery Summer

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Some Straight Awesomeness from these guys:

Remember this come November 2, 2010 and vote….accordingly.

UPDATED: I know Michael Moore is an idiot, but this is Awesome

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I have to respect the man for going after the Obama Administration like this here:

(WARNING THE ARTICLE I AM ABOUT TO QUOTE HAS SOME SERIOUS LANGUAGE IN IT, IF YOU ARE EASILY OFFENDED, DO NOT PROCEED BEYOND THIS POINT!)

Further more, if you happen to be one of those type of people that believe that Unions are inherently evil, you might want to stop here. Least your head explode…

Read More …

The obligatory President Barack Obama flings 50 billion out the window to save America posting

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Can you tell that I am tired of writing about this stuff, I’m getting there…:

MILWAUKEE, Wisconsin (AFP) – US President Barack Obama Monday promised more than 50 billion dollars to create jobs rebuilding roads, railways and airports, targeting huge unemployment and ripping resurgent Republicans.

Obama, under intense pressure due to the sputtering economy ahead of November’s mid-term congressional elections, announced the new funding spree at a Labor Day rally with union workers in Wisconsin where the crisis has hit hard.

“This will not only create jobs immediately, but will make our economy run better over the long haul,” Obama said on a public holiday two months before congressional polls which Democrats fear could bring heavy losses.

“It’s a plan that says even in the aftermath of the worst recession in our lifetimes, America can still shape our own destiny.”

The White House called on Republicans to support quick passage of the measure, which would “front-load” 50 billion dollars of money as the first part of a broader effort to reauthorize transportation funding over six years.

“We’d like to pass this as quickly as possible,” a senior administration official said. The size of the total package, over and above the initial 50 billion dollar infusion of funding, was unclear.

via As Democrats fear rout, Obama launches new jobs push – Yahoo! News.

Of course, the Republicans are the ones being the evil white racists the grown up realists here:

Opposition Republicans, seeking to wrest control of both chambers in Congress from Democrats, immediately condemned Obama’s plan, signaling no let up to obstruction tactics which have slowed his presidency.

“A last-minute, cobbled-together stimulus bill with more than 50 billion dollars in new tax hikes will not reverse the complete lack of confidence Americans have in Washington Democrats’ ability to help this economy,” said Senate Minority Leader Mitch McConnell.

John Boehner, the top Republican in the House of Representatives, sought to link the new plan to Obama’s previous stimulus package worth around 800 billion dollars, which critics say has failed to revive the economy.

“If we’ve learned anything from the past 18 months, it’s that we can’t spend our way to prosperity,” said Boehner.

This is why I do like two party politics. Because one party does equalize out the other party. What gets me is the fact that Obama accuses the Republicans of wrecking the car and that Americans should not “Give them back the keys.” The problem with that is this; and Yes, I have written this before, the Republicans seem to have learned the error of their ways. Where, the Democrats have not. They have taken that same car and driven it over a cliff and are not still trying to drive that mangled car. The sick part is, everyone else knows that car is wrecked and no longer drivable. But the Democrats are willfully blind of that fact and keep on trying to drive that same wrecked car.  I know, it is a bit of a weird analogy, but it works in this case.

The Bottom Line: Obama and Democrats are in trouble, grave trouble and they are trying every trick in the book. They pushed healthcare, when America needed Economic recovery, and yes, Jobs.  Now, they are trying to save face. Will it work? Doubtful. Many are angry and feel that Obama lied to them or told them anything to get elected. This angry will come out in the polls. Personally, I see a shift, but I do not believe it will be a huge sweep as some do. However, it will be interesting to blog about. I cannot wait. 😀

Snort Worthy Story of the WEEK!: Jesse Jackson’s SUV Stolen in Detroit – Jackson in town promoting Green Jobs

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I were to file this one under anything. It would be under, “Blaaaahahahahahahahahahahahahaw!”

The Video via WXYZ-TV in Detroit:

and the Story, Via the Michigan View at the Detroit News:

Add Jesse Jackson’s ride to prominent vehicles being stripped in Detroit.

Following the embarrassing news that Mayor Dave Bing’s GMC Yukon was hijacked by criminals this week, Detroit’s Channel 7 reports that the Reverend’s Caddy Escalade SUV was stolen and stripped of its wheels while he was in town last weekend with the UAW’s militant President Bob King leading the “Jobs, Justice, and Peace” march promoting government-funded green jobs.

Read that again: Jackson’s Caddy SUV was stripped while he was in town promoting green jobs.

Add Jesse to the Al Gore-Tom Friedman-Barack Obama School of Environmental Hypocrisy. While preaching to Americans that they need to cram their families into hybrid Priuses to go shopping for compact fluorescent light bulbs to save the planet, they themselves continue to live large.

“We need an economy that creates employment that can’t be shipped overseas,” the Green Rev wrote for CNN about the march. “Home-grown American labor will be installing windmills and solar panels. A green economy is not an abstract concept.”

Well, its certainly abstract to Jesse, but I digress.

Yeah, the labor would be; Jesse Jackson has not done a day of honest hard work in his entire life. Hell, I’ve worked harder than he will ever work. Oh, wait, Jesse Jackson has worked hard, yes, very hard. That is, if you consider running one’s mouth continually about how oppressed the black man is; and doing the continual race hustle that he is very much known for. Then, yes, he is a very, very hard working man.

Others giggling about this very funny story: AmSpecBlog, Red Dog Report and Weasel Zippers

This is one of those times, when you could not pay me to work in the White House

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That’s right folks, the President and his Administration are in one hell of a huge bind. If they do not do something fast; they are going to be sunk come the midterms and possibly come 2012.

Here’s your video:

Visit msnbc.com for breaking news, world news, and news about the economy

Now, for the Stories….

Via the New York Times:

American businesses added more jobs in the last three months than originally estimated, but the wheels of the economic recovery are still spinning in place.

The private sector added 67,000 jobs in August, according to the Department of Labor, higher than consensus forecasts, and the government upwardly revised its numbers for June and July, suggesting that job creation was slightly stronger over the summer than originally reported.

But the continuing wind-down of the 2010 Census, as well as state and local government layoffs, led to an overall loss of 54,000 jobs in August.

With businesses adding about half the number of positions needed simply to accommodate population growth — much less dent the ranks of the jobless — the unemployment rate ticked up to 9.6 percent, from 9.5 percent.

“The overall picture is one where the labor market is still kind of treading water,” said Joshua Shapiro, chief United States economist at MFR Inc. “It’s better than sinking, but it’s certainly not surging ahead.”

Given the continuing addition of private jobs — albeit at a tepid pace — Friday’s monthly snapshot of the labor market seemed to calm fears of a double-dip recession. But the numbers are likely to do little to assuage political pressure on the Obama administration in the run-up to the midterm elections.

Speaking from the White House Rose Garden on Friday morning, Mr. Obama called the latest job report “positive news,” but said he would be unveiling “a broader package of ideas next week,” to shore up the flagging economy, although he declined to give specifics. The president once again urged Congress to pass a stalled bill that would offer tax breaks to small businesses and create a $30 billion program to encourage community banks to lend.

“There’s no quick fix for this recession,” he said. “The hard truth is that it took years to create our current economic problems, and it will take more time than any of us would like to repair the damage.”

Responding to the higher-than-expected private sector numbers and revisions, investors pushed up the major stock gauges. By early afternoon, the Standard & Poor’s 500-stock index was up 1 percent. Market reaction to the jobs data was tempered somewhat by a report that said growth in the services sector had slowed in August.

The Labor Department revised its private sector number for July, raising the number of jobs added to 107,000 from the 71,000 originally reported. And private sector hiring in June, originally reported at 83,000 and lowered to 31,000, was raised again to 61,000.

This is not making Democrats happy at all… Jack Tapper Reports:

Flanked by members of his economic team – including outgoing Council of Economic Advisers Dr. Christina Romer, whose replacement has yet to be named – President Obama chose to look at the silver lining in the economic clouds of today’s jobs report – not even mentioning that August saw a net job loss of 54,000 jobs.

“In the month I took office, we were losing 750,000 jobs a month,” the president said. “This morning, new figures show the economy produced 67,000 private sector jobs in August, the eighth consecutive month of private job growth. Additionally, the numbers for July were revised upward to 107,000. Now that’s positive news, and it reflects the steps we’ve already taken to break the back of this recession.”

The net job loss for August is largely because of the layoffs of 114,000 Census temporary workers.

….and from David Corn:

Democrats are spooked by recent polls and predictions indicating the GOP may slam the Dems so badly that the D’s lose the House and possibly the Senate. The Republicans need to gain 39 seats to seize the House, and it’s not difficult these days to find nonpartisan handicappers who predict the R’s could gain 40 to 50 seats. The conventional wisdom in D.C.: A tsunami is heading toward the Democrats. A Democratic strategist toiling on the party’s House efforts refers to working on the “Titanic” (though he claims there may be some hidden life rafts). “The president keeps saying it’s a tough environment,” says a Democratic House staffer. “We know that. We want to know what he’s going to do about it.”…

“He still wants to be seen as post-partisan and bipartisan,” says a House Democratic leadership aide. “But we’re in a fight here.” Democrats expect Obama to come out swinging nonstop — bashing the R’s repeatedly and proposing economic initiatives that actually register with voters. At the same time, members of the House Democratic leadership are worried that Obama will cave and yield to GOP demands that George W. Bush’s expiring tax cuts for the wealthy be extended. “If he doesn’t do something immediately, our members will be livid,” says a House Democratic aide. “And when there’s fear of a bloodbath, it’s never too early to start the blame game.”

I just blogged about how the Democrats can fix this mess. However, knowing them like they do; they would rather let the Nation suffer and blame the Republicans for the entire mess, while living large on the taxpayers dime —- than to actually do something to fix the problem. FDR did this, to a certain extent as have many other Democrat Party Presidents; I mean, it is not like Obama is going to be affected by any of this economic downturn.

One there is very certain, the tide is turning, Democrats had the chance to actually fix things and they have failed at it miserably. The Tea Party has now crystallized into a political force to be reckoned with — even among Republicans. RINO’s are being flushed out and true-blue Conservatives are being brought to the battle. It is so bad that the liberal media is gone to terrible spinning facts, an example:

It is possible that coming at the end of the summer an uptick in people looking for work is not as positive as it appears. This is the time of year, after two hot months, when recent graduates start to actually think about their future and send out resumes. And you can image many other out of work people deciding to take off looking for a job in the summer. In August, with the summer ending, some of those people started looking again in earnest. But you would expect the big uptick in post-summer people searching for work to come in September. So the fact that it is coming early is a good sign.

Oh Yes, it is that bad on that that side of the political aisle. When you start reading that sort of idiotic spin in a liberal publication, you know that things are horrifically bad right now for the Democrats. This midterm election and possibly in the general election; will most likely go down as the worst ever failure of the Democrat Party ever. The Democratic Party roared into power in 2006 to take the keys away from the Bush Administration, then they won the General election in 2008. They then got the entire key chain of the Country —- and proceeded to drive the Country as a whole over a cliff!  Because of that and because of this economic that we are in, which was, in fact, created by the Carter and Clinton Administrations; whom were, Democratic Party Administrations — we are about to see a major collapse of a party’s authority in the political realm. I have written here, time and time again; that the Democratic Party has horribly overreached…..again. This happens just about every time the Democrats get into power. To be fair and as non-partisan as I can be; Republicans have done it too — Nixon did it, Bush did it and some others. However, this administration took it to another more frightening level.  Because of this; they are about to do what many call, “Paying the Piper.”

The ship is sinking and the rats are jumping. It should be very interesting to watch. 2010 looms and they have no answers.

Welcome to the meltdown. Get popcorn. Hold on tight and enjoy the show.

(H/T to HotAir on the story leads for this posting. Good show AP! 😀 )

It is amazing what terrible economy will do to a Democrat President

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If there is any truth to this; it can turn the most rabid Democrat into a Republican, real quick:

Administration officials have struggled to develop new economic policies and an effective message to blunt expected Republican gains in Congress and defuse complaints from Democrats that President Obama is fumbling the issue most important to voters. Following Obama’s vacation and focus on foreign policy in recent weeks, White House advisers have arranged a series of economic events for the president next week, including two trips to swing states and a news conference.

“We’ll continue to do everything we can, understanding that recovery will require persistent effort. There are no silver bullets,” senior Obama adviser David Axelrod said in an interview Thursday. “At the same time, we have to make clear our ideas and theirs, and the fact that the Washington Republicans, having helped create this recession, have attempted to block our every effort to deal with it.”

But with the unemployment rate expected to rise again in jobs numbers due out Friday, panic is setting in among many Democratic candidates who fear it is too late for Obama to convince voters that he understands the depth of the nation’s economic woes and can fix them.

[….]

Last November, Obama announced that he would turn his attention to unemployment, calling it “one of the great challenges that remains in our economy.” He declared the same intent two months later, telling House Democrats he would focus relentlessly on job creation “over the next several months.” Senior aides went on television pledging that the mantra would become “jobs, jobs, jobs.”

But other matters – health care, the BP oil spill – continually stole the limelight, creating the impression, some Democrats complain, that the president was barely focused on the economy at all.

His advisers described his attentiveness – noting, for example, that he discussed the economy with New York Mayor Michael R. Bloomberg (I) for 15 minutes before golfing – but got little traction.

“Obviously it’s going to be hard to get anything done before the election, but it’s really important for him to try, and to make the case to the American people that he’s trying to do something and the Republicans aren’t letting him,” said Steve Elmendorf, a Democratic strategist. “We are at the final moments here.”

Obama has another incentive to act: Tax cuts enacted during the George W. Bush administration are scheduled to expire in January, and Democrats – accused by Republicans of plotting to let them vanish – feel compelled to do something before the midterms.

Obama campaigned on a pledge to let cuts expire for the richest 2 percent of households, but some Democrats say the economy is too weak to raise anyone’s taxes right now. And they fear a backlash from small-business owners who could be hit with higher taxes.

Pairing targeted business tax breaks with an extension of middle-class tax cuts could help alleviate those problems.

This article alone, ought to be a lesson for any Democrat thinking about running for office. That raising Taxes in a recession, just does not work. Only tax breaks for the wealthy and making the business climate more healthy will help. Also cutting spending is another way to bring down inflation. This article alone, should be a text book example of why Keynesian Economics does not work in a recession, at all. If you tax businesses to death, you spur growth, if you spur growth, jobs disappear — it is a vicious cycle. Democrats have been making these same stupid mistakes for years.

Which is why we need to vote them out, come November of 2010. Especially here in Michigan, where job growth is desperately needed.

Stock, Gold, and Oil Trading Advice: High Volume Resistance Plagues Precious Metals, Oil & SP500

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Please Note: This is a sponsored posting. If you click a link and go to the service and sign up; I get paid.

———-

Some great analysis by the Technical Traders:

Last week was a relatively strong week for stocks and commodities. Although the SP500 closed slightly lower on the week the price action Friday was strong. The recent pop in commodities has everyone feeling good and bullish again and we all know how the market works… When everyone is feeling good the market has a way of shaking things up.

Below are a few charts showing heavy volume resistance levels that will most likely cause the broad market & commodities to pullback or trade sideways for a few days as buyers and sellers play tug-o-war.

SLV – Silver Bullion ETF Trading

Silver had a very nice pop last week but if you step back and look the recent price action you can see that it’s still trading below the previous major bounce from back in June. It looks as though silver is a little over extended as large percentage moves tend to give back 25-50% of the mover shortly after.

Take a look at the price by volume bar. It shows there has been heavy volume traded at that $19.00 level and the previous time it was reached sellers stepped back in pulling silver down.

GLD – Gold Bullion ETF Trading

Gold is trading deep into the resistance level and struggling to hold up. Last week we went long GLD after the bullish engulfing candle and took profits near the high two days later on Thursday’s price. Although gold is trading at resistance the intraday price action remains somewhat bullish/neutral for the time being.

USO – Oil ETF Trading

The oil ETF broke down from its large multi-month bear flag and is now bouncing up to test that breakdown/resistance level. This could be a possible kiss good bye. I will keep my eye on this commodity as it could provide us with a great shorting opportunity in the coming days.

SPY – SP500 ETF Trading

The equities market has been tried to bottom all week and Friday’s price action looks strong. While the chart looks strong the market internals are telling me the opposite. Last week we saw a gap down and Friday that gap window was filled. With heavy volume resistance just above the current price the odds are pointing to lower prices.

Weekend Equities and Commodities ETF Trading Report:

In short, it looks as though everything is trading just under or at resistance levels. That means sellers will start to enter the market and cause prices to stall (trade sideways/choppy) and or reverse lower.

That being said, with Friday’s strong close for oil and the sp500 I am expecting a gap higher in the morning because traders will review those charts this weekend and enter the market Monday feeling bullish.

—————————————–

Please note: You can get more great analysis like this by going to the Technical Traders website and signing up.

Also please direct all question regarding this posting to the Technical Traders, as I know little or nothing about this stuff. I just post it. 😀

Because the first Stimulus worked so wonderfully well!

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Some liberal moron over at the New York Times thinks it is time for a second stimulus! Because the first one worked so oh wonderfully well! 🙄

OUR national debate about fiscal policy has become skewed, with far too much focus on the deficit and far too little on unemployment. There is too much worry about the size of government, and too little appreciation for how stimulus spending has helped stabilize the economy and how more of the right kind of government spending could boost job creation and economic growth. By focusing on the wrong things, we are in serious danger of failing to do the right things to help the economy recover from its worst labor market crisis since the Great Depression.

The primary cause of the labor market crisis is a collapse in private demand — the same problem that bedeviled the economy in the 1930s. In the wake of the financial shocks at the end of 2008, spending by American households and businesses plummeted, and companies responded by curbing production and shedding workers. By late 2009, in response to unprecedented fiscal and monetary stimulus, household and business spending began to recover. But by the second quarter of this year, economic growth had slowed to 1.6 percent, according to a government estimate issued Friday. Clearly, the pace of recovery is far slower than what is needed to restore the millions of jobs that have been lost.

via Op-Ed Contributor – Why We Need a Second Stimulus – NYTimes.com.

When are these farking liberal morons going to ever learn? That is that Keynesian pump priming of the economy just does not work at all.  You would think that by now the Liberals would have figured that out. Heck, even a liberal blogger thinks that is a bad idea! When the liberals are saying, “Dude, you are wrong,” then I believe that is a good sign to frankly give it up.

I’ve said this a good number of times on this blog, and I will most likely say  it another good hundred times. Liberalism is a MENTAL DISORDER! Micheal Savage said it first, and man, is he ever right.

Speaking of wandering off the plantation: There goes Paul Krugman

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WOW! 😯

You would think they would keep those Plantation gates closed and locked!

Krugman Writes:

What will Ben Bernanke, the Fed chairman, say in his big speech Friday in Jackson Hole, Wyo.? Will he hint at new steps to boost the economy? Stay tuned.

But we can safely predict what he and other officials will say about where we are right now: that the economy is continuing to recover, albeit more slowly than they would like. Unfortunately, that’s not true: this isn’t a recovery, in any sense that matters. And policy makers should be doing everything they can to change that fact.

The small sliver of truth in claims of continuing recovery is the fact that G.D.P. is still rising: we’re not in a classic recession, in which everything goes down. But so what?

The important question is whether growth is fast enough to bring down sky-high unemployment. We need about 2.5 percent growth just to keep unemployment from rising, and much faster growth to bring it significantly down.

Yet growth is currently running somewhere between 1 and 2 percent, with a good chance that it will slow even further in the months ahead. Will the economy actually enter a double dip, with G.D.P. shrinking? Who cares? If unemployment rises for the rest of this year, which seems likely, it won’t matter whether the G.D.P. numbers are slightly positive or slightly negative. All of this is obvious. Yet policy makers are in denial.

Countdown to someone within the White House or Democratic Party or within the liberal establishment to holler “RAAAACIST!”

Oh, right, he’s a Democrat. my bad…:

UPDATED: Speaking of running against Bush

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As I said in the previous posting, the Democrats are going to be basically running against Bush; while basically wanting him to weigh in on the Mosque issue. Can you say clusterfark?

UPDATED: DNC makes the video Private… HEH! Don’t they realize that once something goes viral, it’s forever?

Via RedState: (Thanks to Moe Lane)

As Jeb Bush rightly points out:

Jeb Bush, the former governor of Florida, said the Democratic Party was showing its desperation by spending so much time focusing on his brother. “It’s a loser issue — they have a big L on their foreheads,” Mr. Bush said in an interview. “If that’s all they’ve got, it’s a pretty good indication of the problems that the Democrats face in 2010.”

As does AllahPundit to a better degree:

Remember, according to the Dems’ own polling, Dubya is six points ahead of our global messiah in frontline House districts. But since they’re going to try to wring one more election cycle out of blaming Bush, I think it’d actually be hilarious if GWB granted their wish and came out in favor of the Ground Zero mosque — eventually. He should wait until their anti-Bush messaging is at fever pitch, then throw them a wicked curveball by weighing in on their side. Imagine the cognitive dissonance as our liberal betters have to segue from Bushitler op-eds to “George Bush, patriot” hosannas literally overnight. Greatest media clusterfark evah.

Heh… Indeed. I do believe that this whole entire idea of running against Bush in the midterms is going to blow up in their faces. I mean, the American people, especially independent voters are just not that stupid. They know what is happening and it is not Bush’s fault. Bush bailed out a few banks and left the rest up to Obama. Obama, in turn, did more of that bailout and then some. Further more, he proceeded to spend like a damned drunken sailor —- but that would be an insult to the sailors, because at least they use their own money. (Yes, I know I swiped that from Ronald Reagan. Mainly because it is so true!)

Further more, Mr. Bambi Teleprompter likes to say that Republicans should not be allowed to have the keys back. Well, to that I say this — Obama is flat out lying as to who created the financial meltdown in the first place. As I have written here, like a million times. The Democrats are the one’s who created the ENTIRE MESS! With the creation of Freddie Mack and Fannie Mae, the community reinvestment act of 1973, the adding of the sub-prime clause in 1994. It all can be traced back to Democrats. Not Republicans, but Democrats.

Now, because I am a honest and non-partisan blogger, but rather just an independent Moderate Conservative Blogger, I will say that the Republicans, who were in the majority, did have a chance to stop the housing crisis and they failed to do so. That is a very valid point. But that does NOT take away from the fact that Democrats DID create the environment that lead to the housing crash or as it is also called, the housing bubble bursting. The very idea of social engineering is fundamentally flawed and should stop. Barney Frank himself is now saying that, as should many other Democrats.

In closing, let me simply say this; as a former Democratic Party voter, and as an independent voter. I will give the Democratic Party a grave warning: Run on this platform and you will be trounced in the Midterms. The American people are just NOT this stupid.  You attempted and succeeded to pass a healthcare bill, that even people in your own party said, was horrible. Then you passed a stimulus package that has been, from all accounts, as colossal failure. So, in response, you are going to try running against Bush…again. I got four good words for you: Good Luck With That!

The American people know who created this mess and it was not the Republicans. It was you guys, Democrats. When you lose, you will have no one at to blame — but yourselves. You overreached, you got insanely drunk with power; just like the Bush Administration did in 2000 and 2004 —  and now, you will be paying the piper come November, just like the Republicans did in 2006 and in 2008.

Welcome to reality Democrats, it is so nice to see you again.

The Extremely Sadly Obligatory “People think President Obama is a Muslim more and more everyday” Posting

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Sigh….

Why must I write about insanely stupid things such as this?

I mean, is being a moderate Conservative automatically a mandate to sign on with the stupid now? If it is, I must have not have gotten the memo on this at all.  Because this bunch of blatant stupidity, I find to be most distressing — almost to the point of shutting my blog and disappearing from Politics altogether.

What I am griping about, is this incredibly stupid poll out, which says that more and more people believe that President Obama is a Muslim.  I mean the man’s Father gives to his kid an Arab middle name, because the man was a Muslim at one time, and everyone freaks and says, “He’s a Muslim!” or in some quarters, “He’s a nigger Muslim!”  —- Depending on where you are, north or south of the Mason-Dixon Line.  Yes, I went there, you are very welcome.  Figure if Dr. Laura can go there, so can I.

Seriously, folks, I am honestly beginning to wonder if some members of the Anglo-Saxon race are not inflicted with some sort of incurable disorder.  I like to call it “Negro-Phobia,” White people are honestly frightened by anyone that looks, talks, acts, and even sounds different than they do.  This is 2010, I thought we were over such nonsense; after all, we did elect the Nation’s first black President.  Nevertheless, this nonsense is still being polled about, talked about and blogged about.

My question to my fellow Conservative is this; do you people honestly believe that this sort of idiotic nonsense is going to get the Republicans elected back into office in November?  I mean, seriously!

What is fueling this sort of nonsense?  Fear —– You know damned well the Republicans are playing that little card for all it is worth.

Look, I know the President is a socialist I get that.  However, to accuse a man of lying about what his Religious leanings are,  is just plain underhanded tripe.  I mean, has all of the damned intellectualism disappeared out of the Conservative side of the Political fence for God’s sake?  Have all of the men of wisdom within the ranks of Conservationism been replaced with Hillbilly Mouth breathing idiots, who have no concept of any sort intellectual thought?

I will not try to mislead my readers — at this point, I am seriously beginning to believe that Conservatives have officially jumped the damned shark on this little subject.  I am not ready to official change to another political stripe or anything; because I have learned too much about the left, and much of it, I cannot stand.  Nevertheless, this nonsense of accusing the first black President of the United States about lying to America, as to what God his subscribes to, is just very ridiculous.

Is this what the Republican Party has become?  The President of the United States, who happens to be black and have Arab middle name has a dinner with a group of Muslims.  The President tells a group of Arabs that are visiting the White House, that this Park 51 site — has the legal, not the moral, but the legal right to build in New York City and that the United States Government will not interfere with this process — and alone, that makes him a Muslim?

Another example: The economy is not recovering as fast or a well as the Democrats had hoped and that somehow means that President Obama is some sort cryptic-Muslim socialist that wants to overthrow the capitalistic system in America, and introduce us to Sharia law and Communism.

Do not laugh; I have heard such stuff out of the mouth of Glenn Beck himself and from other well-known Conservative Bloggers.

If this all somehow sounds familiar to some of my older readers, it should, the same very thing was said about President John F. Kennedy.  There were actually Conservatives and yes, some Democrats who were going around shrieking that Kennedy would be taking orders from Rome.  You see, Kennedy was Catholic and back in those days, a Catholic had never served as President of the United States.  In fact, the issue got so bad, that Kennedy had to address the Southern Baptist Convention in 1960 to convince them and the rest of America that he would not be taking orders from Rome.

Fortunately, back then, it worked.

What you did not have in 1960 were Conservative Bloggers who were “hell bent” on destroying a President, for the simple fact that he is a Black Democrat.  However, today, you do have them and there are many of them.

Look, I am going to make an admission to you all.  I did not create this blog to attempt to destroy President Obama.  I started this blog to criticize the President of the United States on his policies, when I thought that they were wrong, dumb, and misguided, and I will continue to do so.  However, what I will not partake in is the silly idiotic partisan rumormongering that is not based on facts.

Having said all of that let me give an open message to the Conservative and Republican Blogging community:

I will not partake in this stupidity and if this is, what is required to be in with the “Cool Kids” in Conservative blogger, then by all means, count me is an outsider — Because I want nothing to do with this sort of stupidity.

Weekly Jobless Claims hit 500,000 “unexpectedly”

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Seriously, what is it with the stupid media and that word?

New U.S. claims for unemployment benefits unexpectedly climbed to a nine-month high last week, yet another setback to the frail economic recovery.

Initial claims for state unemployment benefits increased 12,000 to a seasonally adjusted 500,000 in the week ended August 14, the highest since mid-November, the Labor Department said on Thursday.

Analysts polled by Reuters had forecast claims slipping to 476,000 from the previously reported 484,000 the prior week, which was revised up to 488,000 in Thursday’s report.

A Labor Department official said there was nothing unusual in the state level data. The data covered the survey week for the government’s closely watched employment report for August, scheduled for release early next month.

“There are some technical factors out there and the seasonal factors seem to be pushing it up a little bit. But given the trend of claims it looks like the economy ran into a wall in August,” said Chris Rupkey, chief financial economist at Bank of Tokyo-MitsubishI UFJ in New York.

via Weekly Jobless Claims Post Surprise Jump, Hit 500,000 – CNBC.

Unexpectedly? Oh Please, like these idiots did not expect the jobless claims to rise, seeing that we are in the worst recession, since the great Depression.  Just more of that Presidential butt kissing since the election of that idiotic Democrat in the White House —– by the liberal owned and financed main stream media.  I will say this; when I saw Ed Morrissey making a fuss about the use of the word, at first, I thought Ed was being a bit silly and quite melodramatic about it. However now, it is getting even ridiculous for even me to bear now. So, seriously guys. Knock off the use of that idiotic word, please.

Ed Morrissey adds:

CNBC’s headline writer also got gobsmacked, writing this header for the Reuters story: “Weekly Jobless Claims Post Surprise Jump, Hit 500,000.”  Maybe Reuters should seriously look at hiring better analysts.

Ed is so nice — Allow me to take that a bit further. Perhaps Reuters ought to actually try reporting news; instead of being the liberal Democratic Party supporting, terrorist apologists, that they actually are — Maybe then we could actually trust them again, as a legitimate news source; instead of having to employ the “Idiot Liberal” filter every time someone has to actually read their propaganda stories that they attempt to pawn off on actual thinking Americans.

I know, it sounds quite harsh; but when you strip off the gloss, and the shiny paint —- that is what you have.

Others: Ezra Klein, Michelle Malkin, Firedoglake, Gateway Pundit, Hot Air, Scared Monkeys, The Powers That Be, TalkLeft and Conservatives4Palin.com and more Via Memeorandum

Market and Gold Advice: Updated Forecasts for Gold and SP 500

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Please note: This is a sponsored posting, to promote a website and it’s offerings. If you click and sign up, I get paid.

The article which is found over at The Market Trend Forecast.com:

In my last article a few weeks ago for Kitco.com, I was concerned that the market could have a hangover after the recent rally.  Apparently, my concern was not un-founded as we dropped from a rising bearish wedge near 1130, to the 1070 Fibonacci pivot earlier this week.  Although my subscribers were prepared for this drop by shorting the SP 500 in advance of that move, we covered our short near 1070 on the SP this week.

Bringing things up to speed, the market rallied up from July 1st to near 1130, which was a maximum target I mentioned in my last article.  This completed a 3-3-5 elliott wave pattern that I identified, and broke the rising wedge on cue.  At 1130, the SP 500 had re-traced a Fibonacci 61% of the April highs to Jul 1st lows, and had completed that re-tracement over a Fibonacci 5 week window. At TMTF, we believe that markets move in extremely reliable patterns and are not at all random.  At the 1221 SP 500 top in April, it landed exactly at a 61% Fibonacci upward re-tracement of the 2007 highs and the 2009 lows.  At the 2009 lows, the SP 500 had corrected 61% of the 1974 lows to 2000 highs right on the nose at 666!

Check out the rest of that and also head on over to Trend Market Forecasts Dot com for the latest in Stocks, Gold, Futures and other stock related advice.