Written by I warned last week that a recession and higher unemployment were about to hit the U.S. economy. On Tuesday, the Bureau of Economic Analysis cut their estimate of growth in the third quarter ending September from 2.5% to 2%. Then this morning, the Federal Reserve rocked financial markets by forcing America’s 31 largest U.S. banks [...]
READ MORE »Monthly archives for November, 2011
RUSSIA GOES NUCLEAR TO COUNTER U.S. AIR CAMPAIGN AGAINST SYRIA
The Russian Federation just went on full nuclear missile alert to counter the U.S. and European impending “No-Fly-Zone” campaign over the sovereign territory of Syria. Russian president Dmitry Medvedev announced on state television that Russia believes an incursion in Syria is a threat to the Russian provinces and a potential act of aggression by the [...]
READ MORE »ELECTION YEAR RECESSION & HIGHER UNEMPLOYMENT AHEAD
Over the last five months the strength of the United States economy has surprised on the up-side. America posted its strongest quarterly economic growth since the end of 2006 and U.S. corporate profits hit an all-time record high. But with the end of 100% “bonus depreciation, government spending shrinking for the first time since the [...]
READ MORE »DOES AMERICA HAVE PATIENCE TO NEGOTIATE WITH CHINA
The Obama Administration kicked off their highly touted “Return to Asia” tour last week by threatening Chinese President Hu Jintao that Americans are growing “impatient and frustrated” over China’s currency and trade policies that are hurting U.S. employment and Mr. Obama’s reelection hopes. Unfortunately for President Obama: the Chinese word for patience (pronounced as “REN”) [...]
READ MORE »CAPITALISM AND MARXISM ARE HEADED FOR A VIOLENT SHOWDOWN
Social liberals are extremely frustrated that the “worker’s paradise” that seemed so near three years ago, is fast slipping away due to voter rejection. With the huge borrowing and spending stimulus failing to revitalize the economy, social liberals took to the streets in Occupy Wall Street movements around the country. But the movement is rapidly [...]
READ MORE »THERE IS NO WALL STREET TO OCCUPY; IT WAS SOLD TO THE GERMANS
It would seem a little embarrassing to have to inform the “Occupy Wall Street” movement (OWS) that the corporate icon they are protesting – The New York Stock Exchange – was already sold to the Germans. But the real motive behind the protests are a spin job on the basic instruction set drilled into young [...]
READ MORE »CALIFORNIA HAS DRAWN DOWN OVER 85% OF ITS CREDIT LINES
In what seems appropriate for a month ending in Halloween; the State of California just released a scary October Statement of General Fund Cash Receipts and Disbursements indicating annual revenue will plummet by $3.6 billion and spending will spike up by $10.2 billion this year. California has already drawn down 85% of its credit lines [...]
READ MORE »MUNICIPAL BOND CREDIT QUALITY IS IMPLODING
Moody’s Credit Rating Service just announced the ominous trend that credit quality in the municipal bond market is falling at the fastest rate since the collapse of Lehman Brothers in 2008. Data released showed that 5.3 times as many municipal bonds were credit downgraded over the three last months than were upgraded. Moody’s emphasized that: “Downgrades dominated [...]
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