Archive for the ‘Economy’ Category

Merry Christmas! Ho! Ho! Ho! – What?

Talk of the neighborhood was that Santa brought higher gas prices. From Christmas Eve to Christmas day, the price at the two local self-serve stations went from $2.94 to $3.05 per gallon for unleaded 87 octane.

Now we know reindeer power is a myth. That sleigh burns GAS. And a LOT of it! Many of the premium pumps were out of service so perhaps it burns high test gas.

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Which state will go bankrupt first?

Odds are it will be Illinois or California. But there is no bankruptcy law for states. Justice Litle suggests a new bankruptcy law should be called “Chapter 66″ after route 66 which first connected Illinois to California.

“Forty-eight of 50 states face budget shortfalls this year,” they further report. “Many shortfalls amount to more than 20 percent of planned spending. The plunge in state tax revenue is the worst on record.”

Illinois is something of an idiot poster child for how bad things have gotten… and how tough the fix will be.

California is another poster child for impossible foolishness.

Follow the link to realize how bad the future of these states will be. They are in so deep they can’t get out short of a federal bailout.

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Deja vu all over again

Last year Congress worked right up to Christmas eve to pass Obamacare. Now they introduce an Omnibus Spending Bill for fiscal year 2011 of 1,924 pages loaded with pork. Keep in mind the 2011 fiscal year started October 1, 2009. That alone should cause us to fire them all. The Senate bill FY 2011 Omnibus Appropriations Act totals $1.1 trillion. The government will run out of money December 18th. What a bunch of jerks.

Start sending emails, phone calls, or both. Especially any Senators, specifically Democrats, who will face election in 2012. These people haven’t learned anything in this last year. And we can start here.

Keep your correspondence as civil as possible but you could quote Howard Beale of Network, “I’m as mad as hell, and I’m not going to take this anymore!”.

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A tax cut compromise – Maybe

First of all, this is not a tax cut compromise, it is a TAX HIKE compromise. And it is loaded with PORK! The left, even the rich left, loves the inheritance tax. Maybe they represent all those lawyers who make a good living as estate planners. Of course it is also called the “Death Tax”. How can anyone argue that after a person’s income has been taxed all their life, the government should then take over half, it used to be 55%, of their assets when they die? Thus the name “Death Tax” since it is a tax on dieing.

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Another bubble that might burst

Tuition. Note what is happening in Europe with student demonstrations. More than a few professors have been warning of such an event in the blogosphere. They claim the university systems, public and private, are bastions of inefficiency and excessive perks. Of course the tuition must go up because the government cuts spending. As the tuition goes up, citizens will demand accountably from their legislatures.

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Bush tax cuts – Then and now

If you jump into your time machine and go back to when the Bush tax cuts were being debated, the Democrats opposed the cuts because they would give huge tax breaks to the rich. To get them passed, read that as stopping a filibuster, they were limited to 10 years. Now come back today and review what is called the “cost” of extending the Bush era tax cuts.

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The pin that burst the bubble

Did high oil prices, and the resulting gas prices, prick the housing bubble? Obviously it was NOT the only pin prick but it certainly had to be a contributor. With rising gas prices, people who had purchased homes believing the price would always rise, found themselves with far less spendable income. Some no doubt had to decide whether to buy gas to get to work or pay their mortgage. Of course higher oil prices meant the price of goods, like food, also shot up because of higher distribution costs.

4 year gas and cude oil price chart

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How bad is 9.8% unemployment?

It is the highest in 7 months. Unemployment was 9.8% in SEPTEMBER 2009! Whatever you do, “Don’t let a crisis go to waste”. Unemployment has been above 9% for 19 months straight. The Obama administration has been in office for 22 months and 14 days. It is now the worst employment record since The Great Depression!

The Democrats blame Bush, and claim they only inherited a mess. That spin no longer works because it is obvious they have not cleaned up the mess. Besides, its is the role of Congress to represent “We the people” and NOT a political party or a President’s agenda.

Note too that the number of people looking for work did not increase significantly. This often causes the percentage to rise. This may be the worse news of the report. Some on Wall Street think there are errors in the numbers. Let us hops so.

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November 2010 Unemployment

NOT good news. BLS reports unemployment rate up to 9.8%. Yet the House holds a vote on raising taxes. No economist worth their salt would recommend raising taxes during a deep recession.

The unemployment rate edged up to 9.8 percent in November, and nonfarm payroll employment was little changed (+39,000), the U.S. Bureau of Labor Statistics reported today.

Only 39,000 new jobs! Even after this last election, the Democrat leaders of the US Congress have failed to recognize the REAL problems facing our nation. Instead they want to spend time on The Dream Act and Don’t Ask Don’t Tell. These people wouldn’t have sense enough to flee a burning building. Come to think of it, a good number of Democrats are fleeing the burning party.

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The World’s Greatest Museum

People forget even recent history. Greg Gutfeld’s greg-alogue on the World’s Greatest Museum.

Has anyone done a documentary of those who lived in East Germany? Someone should do this while the people who survived WWII are still alive. If it hasn’t been done.

Like all of my good ideas, someone has already thought of this one.

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