You get an extra $40 bucks….

Comments »

Pump, pump the jam, keep it pumpin’

Comments »

A reporter asked if Boehner had caved in his worst week as speaker…..Boehner was not happy, but saved face by moving towards compromise. The only hitch would be if there were division among his base. Stay tuned till tomorrow’s vote.

Full article

Comments »

What is good for the goose is good for the gander.

If we will not print interest free currency then perhaps we can use interest to our advantage.

We live in a world where Harvard / Wharton graduate fucktards can destroy the banking system, the global economy, and the future of this country while not going to jail and holding the tax payer hostage for bailouts.

Two words:

CARRY TRADE

We the people have borrowed money from the future to lend to the banks.

The banks have the opportunity to borrow at low rates, buy higher yielding treasuries, and using the arbitrage proceeds to write down losses on the books.

In some instances this money is leveraged to purchase more bonds from say Japan in order to leverage the money once again. This allows for some players to buy speculative investments and make serious coin when their bets come out on top. On another note i think this is cause for much of our volatility….yet i digress.

The first thing we can do for the citizens is let them do the same. Let U.S. citizens borrow at 0-.25%. They can then purchase treasuries and the Fed can buy them back with interest paid.

This would generate money to relieve debt and help those with negative equity or upside down mortgages.

For those who have no debt…well good job and maybe you get a tax break to make it an even playing field.

Furthermore, America could slowly eat away at its debt through this process.

If the goose is going to use us…then why not use them. The banks could mange the program and make a vig. The Fed and its private banks who have skimmed off the backs of tax payers for 98 years could pay us a favor and forfeit some of that stolen money back to America.

Meanwhile, consumer and business sentiment would change; and the economy would pick up. Uncle Sam could collect more taxes and not have to kill what republicans call “socialistic” programs. Because no matter what you say programs like Fannie, Fredie, SS, and such have worked for many years until government and their corporate masters decided to steal and tinker with them. Couple this with some austerity and you have a realistic opportunity for a fresh start.

The only rule would be to insure citizens and governemnt do not incur more debt while trying to relieve what is on the books.

Any thoughts ?

 

[youtube://http://www.youtube.com/watch?v=rMV-fenGP1g 450 300]

Comments »

“Billionaire investor Wilbur Ross Jr. tells Newsmax that the U.S. government “seems to hate” big banks and is imposing new regulations placing them at a competitive disadvantage.

And while Ross doesn’t see the European debt crisis leading to disaster, he says several EU nations have “dysfunctional” economies that must be reformed to deal with the crisis.

In a wide-ranging exclusive interview with Newsmax.TV, Ross, the chairman and CEO of WL Ross & Co., also said:

• Gridlock will keep its hold on Washington if the Obama administration remains determined to engage in “class warfare.”

• Inflation will pose a long-term problem if the federal government continues to debase the currency with deficit spending.

• A new recession is unlikely.

• S&P’s downgrading of the United States’ credit rating is “silly.”

Story continues below in video.

Comments »

It appears Ron Paul has been reading Jake Gint’s blog.

By Jason Zweig

Republican presidential candidate Rep. Ron Paul marches to his own drummer in politics – and in his investment portfolio, too.

Here at Total Return, we’ve looked at hundreds of the annual financial-disclosure forms in which the members of Congress reveal their assets and trades – and we’ve never seen a more unorthodox portfolio than Ron Paul’s. (In fact, The Wall Street Journal revealed problematic trading in Congress more than a year and a half before the “60 Minutes” episode that recently raised a ruckus over the same topic, but that’s another matter.)

According to data available through his 2010 “Form A” financial disclosure statement, filed last May, Rep. Paul’s portfolio is valued between $2.44 million and $5.46 million. (Congressional disclosures are given in ranges, not precise amounts.)

Most members of Congress, like many Americans, hold some real estate, a few bonds or bond mutual funds, some individual stocks and a bundle of stock funds. Give or take a few percentage points, a typical Congressional portfolio might have 10% in cash, 10% in bonds or bond funds, 20% in real estate, and 60% in stocks or stock funds.

But Ron Paul’s portfolio isn’t merely different. It’s shockingly different.

Yes, about 21% of Rep. Paul’s holdings are in real estate and roughly 14% in cash. But he owns no bonds or bond funds and has only 0.1% in stock funds. Furthermore, the stock funds that Rep. Paul does own are all “short,” or make bets against, U.S. stocks. One is a “double inverse” fund that, on a daily basis, goes up twice as much as its stock benchmark goes down.

The remainder of Rep. Paul’s portfolio – fully 64% of his assets – is entirely in gold and silver mining stocks. He owns no Apple, no ExxonMobil, no Procter & Gamble, no General Electric, no Johnson & Johnson, not even a diversified mutual fund that holds a broad basket of stocks. Rep. Paul doesn’t own stock in any major companies at all except big precious-metals stocks like Barrick Gold, Goldcorp and Newmont Mining.

Rep. Paul also owns 23 other miners – many of them smaller, Canadian-based “juniors” whose stocks are highly risky. Ten of these stocks have total market valuations of less than $500 million, a common definition of a “microcap” stock. Mr. Paul has between $100,010 and $326,000 (roughly 5% of his assets) invested in these tiny, extremely volatile stocks.

Rep. Paul appears to be a strict buy-and-hold investor who rarely trades; he has held many of his mining stocks since at least 2002. But, as gold and silver prices have fallen sharply since September, precious-metals equities have also taken a pounding, with many dropping 20% or more. That exposes the risk in making a big bet on one narrow sector.

At our request, William Bernstein, an investment manager at Efficient Portfolio Advisors in Eastford, Conn., reviewed Rep. Paul’s portfolio as set out in the annual disclosure statement. Mr. Bernstein says he has never seen such an extreme bet on economic catastrophe. ”This portfolio is a half-step away from a cellar-full of canned goods and nine-millimeter rounds,” he says.

Read the rest here.

Comments »

STORY HERE

Comments »

The Frontier Lab’s Breakthrough Study Proves Occupy Wall Street Short-Selling America

CHICAGO – The Frontier Lab released today the results of a 3-month-long study of Occupy Wall Street (OWS) protesters in New York City and Chicago. “Short-Selling America,” the Means-Ends Value Chain report of the OWS participants’ deep motivating values provides richer intelligence for social scientists, commentators, and civic leaders who seek a deeper understanding of this emerging segment of political activists.

“After reading, watching, and listening to so many thought leaders expound on the mission, motives, and manners of this group, we saw an opportunity for science to make sense of a movement catching everyone’s attention,” said Anne Sorock, partner and research director of The Frontier Lab. “The study reveals two segments, “Communitarians” and “Professionals,” with distinct value sets, and categorically refutes the notion that Occupy protesters share the deep values of Americans who seek financial security and are fed up with crony capitalism.”

Key insights from the report:

• The Communitarians’ deep values set includes Community, Purpose, and Security
• The Professionals’ deep values set includes Prestige, Validation, and Control
• The promise and responsibility of ‘The American Dream’ do not overlap with either deep values set
• The most viable segment for conversion to other political movements are the Communitarians, because a sense of Community, Purpose, and Security can be more easily replicated

“While their signs and rhetoric might decry crony capitalism and bank bailouts, their values reveal self-centered and fear-based motivations. When understood at the deep values level, the similarities drawn between everyday Americans’ desire for fiscal responsibility and Occupy’s signage appear superficial and hollow. Anyone who would market American freedom to this disinterested and differently motivated audience fails to realize that Occupy wins when America loses. They are going short on America,” concluded Sorock.

The Short-Selling America report demonstrates that the OWS protesters’ values form a new way of understanding the movement beyond the traditional Left-Right dimension. The Frontier Lab is using this understanding to map the Occupy segments and other segments across the political landscape to reveal the frontier lines in the battle for America.

The Frontier Lab is a non-partisan 501 (c) 3 not-for-profit organization that conducts marketing research and provides strategic marketing counsel to leaders and organizations promoting freedom. Inspired by Frederick Jackson Turner’s “Frontier Thesis” of 1893, the lab’s mission is to define a new and sustainable American frontier based on the values majorities of Americans share. The Frontier Lab team’s pioneering approach applies Means Ends Value Chain market research used by the most cutting-edge private sector organizations to the civic space in order to advance republican democracy. To read the complete “Short-Selling America” report and to learn more about The Frontier Lab, please visit www.thefrontierlab.org.

Direct Link to the Report.

Comments »

The left and right need to compromise for the benefit of our country 

Comments »

“The European Central Bank will lend euro-area banks a record amount for three years and more than economists forecast in an effort to keep credit flowing to the economy during the sovereign debt crisis.

The Frankfurt-based ECB awarded 489 billion euros ($645 billion) in 1,134-day loans, the most ever in a single operation and more than economists’ median estimate of 293 billion euros in a Bloomberg News survey. The ECB said 523 banks asked for the funds, which will be lent at the average of its benchmark rate – – currently 1 percent — over the period of the loans. They start tomorrow.

“It was obviously an offer the banks could not refuse,” said Laurent Fransolet, head of fixed income strategy at Barclays Capital in London. “It shows the ECB is not out of ammunition and it gives banks security on liquidity for a few years. On the other hand it means banks will rely on the ECB for longer.”

Full article

Comments »

I’ve been trying to ignore this reoccurring story, but it is starting to irk me  given the recent passing of NDAA 1867.

Full article

Comments »

CNN Poll: President’s approval nearing 50%

President Barack Obama’s approval rating, a crucial indicator of his reelection chances, is on the rise, according to a new national survey.

A CNN/ORC International Poll out Tuesday also indicates that the partisan battle over extending the payroll tax cut may be partially responsible for the jump in the president’s numbers.

Full results (pdf)

According to the survey, 49% of Americans approve of the job Obama’s doing in the White House, up five points from last month, with 48% saying they disapprove, down six points from mid-November. The 49% approval rating is the president’s highest since May, when his number hit 54% thanks to a bounce following the killing of Osama bin Laden. Since then, in CNN polling, Obama’s approval rating has hovered in the mid-40s.

“President Barack Obama’s approval rating appears to be fueled by dramatic gains among middle-income Americans,” says CNN Polling Director Keating Holland. “The data suggest that the debate over the payroll tax is helping Obama’s efforts to portray himself as the defender of the middle class.”

Obama’s gains have come at the expense of the Republicans in Congress and the GOP in general. By a 50% to 31% margin, people questioned say they have more confidence in the president than in congressional Republicans to handle the major issues facing the country. Obama held a much narrower 44% to 39% margin in March.

And the GOP’s overall favorable rating has dropped to six points, to 43%, since June, while the Democrats’ positive rating remained steady at 55%.

“The Democrats do particularly well among middle income Americans, while the Republicans win support only from the top end of the income scale,” adds Holland.

Overall, only 16% say they approve of the job Congress is doing, with 83% giving lawmakers from both parties the thumbs down. The Congressional disapproval rating has topped 80% since August in CNN polling.

The survey indicates that Obama remains personally popular, with three-quarters saying they approve of him as a person.

“Overall, it’s not a bad position for an incumbent to be in as the calendar turns to an election year, but there are many months to go,” says Holland.

The CNN poll was conducted by ORC International from Dec. 16 to Dec. 18, with 1,015 adult Americans questioned by telephone. The survey’s overall sampling error is plus or minus three percentage points.

via 

 

Comments »

SOURCE

Comments »

That sound you just heard was Paul Krugman’s head exploding.

PolitiFact’s Lie of the Year 2011

Comments »

I say this is not the first time BLS has leaked employment info. I’m sure there are hedge funds out there who have the ability to pay well for such important information.

Perdue Media Team Used Confidential Data To Spin Jobs Reports

Federal officials question legality of getting employment info before official release

RALEIGH — Since as early as January 2011, and perhaps before then, Gov. Bev Perdue’s press office has received access to confidential employment data from the U.S. Bureau of Labor Statistics hours if not days before its scheduled release, quite likely in violation of federal law. The governor’s staff used its early access to massage the monthly employment press release that reported jobs data to the public.

Documents and correspondence obtained by Carolina Journal show that the Division of Employment Security, formerly known as the Employment Security Commission, sent a draft of the press release each month to Perdue’s press office. The governor’s spokesmen typically rewrote the text and added a positive spin, even if the data did not support Perdue’s talking points.

The glowing quotes were attributed to Lynn Holmes, director of the employment agency, but the documents show the quotes were approved and probably written by a Perdue press aide, either Chrissy Pearson or Mark Johnson.

In several instances, DES spokesman Larry Parker cautioned Pearson or Johnson against using extraneous or unverifiable information in a release to boost Perdue’s image. At times, the Perdue communications team would push back, and the release would undergo several revisions before final publication.

While the operation may sound like a harmless effort to add political spin to the release of jobs data, sharing confidential BLS estimates while they are protected by an embargo violates a federal law barring the early release of employment data. This is no small matter: A conviction for breaching the Confidential Information Protection and Statistical Efficiency Act of 2002 carries a fine of up to $250,000, up to five years in prison, or both.

The data, including monthly estimates for current job totals, the labor force, and the unemployment rate, are produced by BLS with some minor assistance from the Labor Market Information Division of DES.

Former Gov. Mike Easley’s administration received an early briefing on the employment reports from ESC staff for several months in 2003 and 2004, if not longer, but those briefings apparently stopped after CJ learned of and reported on them in 2004.

Perdue and her staff may not receive formal briefings, but Parker told CJ in September that he shares the jobs report with Perdue’s staff roughly 24 hours before the announced time for the monthly release. Emails obtained by CJ involving Parker, Pearson, Johnson, and in one instance Department of Commerce spokesman Tim Crowley, show officials discussing the data more than 48 hours before the embargo was lifted.

“BLS does not support the release of employment and unemployment data before the established dates and times,” said Janet Rankin, BLS regional commissioner for the southeast office in Atlanta in an email. She notes that states are required to publish the dates they will release employment data on Dec. 31 of the previous year and follow that schedule.

She added that state agencies enter a cooperative agreement with BLS to gain access to its confidential data, and that the agreements “state that estimates cannot be shared outside of the LMI unit until they are final and ready for publication. The data are embargoed until the state predetermined release date and time” (her emphasis).

When CJ reported on the briefings Easley received in 2004, Rankin said at the time: “A person associated with developing the data that is caught releasing it or commenting on it prematurely is subject to fines and jail time.”

CJ initially suspected Perdue was receiving employment information that was under embargo in August, when she discussed information in the jobs report at a meeting of the Rotary Club of Asheville the day before the data were released to the public.

The statewide employment report typically is released the third Friday of each month at 10 a.m. The December statewide employment report will be released Tuesday at 10 a.m. (To download a PDF of the release schedule, click here.)

A review of several 2011 email exchanges reveals how the monthly process, in which Perdue aides insisted on overseeing the releases, worked.

February release

Parker and Johnson had reviewed a draft of the February report no later than Thursday, March 24. The public release had been set for 10 a.m. the following day. In an email sent to Parker at 5:36 p.m. Thursday, Johnson wrote:

Also, please start using the message points that Chrissy included in her email to all the [public information officers]. The Governor’s message on jobs should be reflected. For example, Lynn’s quote could say something to the effect of: ‘As Gov. Perdue continues to fulfill her No. 1 priority of bringing new jobs to North Carolina, the state saw a significant number of job gains in February.

At 8:51 a.m. March 25, an hour before the scheduled release, Parker told Johnson he had difficulty following Pearson’s directive:

Mark, I looked through Chrissy’s generic messaging and found nothing to ‘totally’ fit.

• The most pressing problem in NC and my top priority since taking office has been to create new jobs. (we don’t know how many of these jobs – over-the-month or over-the-year – are new)

• We are in the top ten states to improve our unemployment rate – which has dropped by nearly one-and-a-half points compared to where we were last February. (Our unemployment rate has improved because our labor force has dropped NOT because we have grown jobs. This is a DANGEROUS assumption until more consistent job growth takes hold. The data show this.)

• Since the start of my term, business have pledged to create 58,00 jobs and are investing 12.5 billion dollars – (This is a Commerce number, not ours.)

With that said – here is what I wrote in the revised quote.

‘North Carolina added a significant number of jobs in February,’ said ESC Chairman Lynn R. Holmes. ‘This was the second consecutive month with job gains as several sectors showed improvement. Gov. Perdue’s top priority is growing and keeping jobs in North Carolina, and in February there were a notable amount of job gains as well as over-the-year increase throughout many of the job sectors. Our statewide offices will continue to provide services to assist our state’s citizens who are looking to find work.

Also at 8:51, Parker sent Johnson a slightly different version:

”North Carolina added a significant number of jobs in February,” said ESC Chairman Lynn R. Holmes. “North Carolina experienced back-to-back months of job gains, showing that the state is forging ahead of the difficult recession. The Governor continues to focus on growing jobs in North Carolina and in February there were a notable amount of job gains, as well as over-the-year increases throughout many of the job sectors. Our statewide offices will continue to provide services to assist our state’s citizens who are looking for work.”

At 9:29, Johnson responded to Parker, “Chrissy still needs to review, but see the tweaked version of what you sent below.”

At 10:07, seven minutes after the scheduled public release, Parker had not received a go-ahead from Perdue’s team to finalize the language. “Do we have an update,” he asked Johnson. “BLS has already released the data.”

BLS posts data for all the states on its website at the time designated for release.

The final version released to the public read:

“Clearly Gov. Perdue’s focus on growing jobs in North Carolina should continue to be the No. 1 priority for North Carolina leaders,” said ESC Chairman Lynn R. Holmes. “We are showing signs of slow but steady progress, with job gains in February and over-the-year. Here at the ESC we remain committed to assisting out-of-work citizens with training and services to get them through these hard times and back to work.”

Read the rest here.

Comments »

LMAO

Comments »

DSK strike back

Comments »

Condi Rice for V.P.

Comments »

Lawmakers take budget bill down to the wire again. The bill was originally signed by Boehner, but his base is rejecting its current fashion.

Full article

Comments »

 

 

Comments »