The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Thursday, November 15, 2012

New job loss report: To those who believed the White House, here's your sign

For the limited few out there who actually believed the September BLS report that showed the unemployment rate falling from 8.1% to 7.8%, all we at the Daily Economist have to say is, Here's your sign.

Primarily, the drop in unemployment just weeks before the election was so obvious, and so blatent, and so large, that every analyst with a modicum of respect knew that after Nov. 6, the revisions of those numbers would either pop the rate back over 8%, or quite discouragingly, move the numbers even higher than what it was.


Picture courtesy of Fox and Friends

The latest initial claims data posted a multi-year high 104,548 surge in weekly NSA claims from 361,800 to 466,348, and even the Seasonally adjusted number soaring from 361K to 439K on expectations of a 375K print. In other words, a complete disaster for any economic data bulls. What is truly amusing is that the same Wall Street "experts" who set expectations were unable to foresee the Sandy effect that every "macrotourist" on Twitter apparently is so very aware of. Also, it is apparently also "Sandy's fault" (now that the Bush excuse is back in retirement) that the prior week's claims were revised from 355K to 361K. Basically, just as we said 3 weeks ago, ignore every negative data point: - Zerohedge


Interestingly, these numbers come just before the onset of Black Friday, and the seasonal increase of temporary jobs leading into, and through Christmas.  What indications then should we expect from here, as to the retail sales for the 2012 holiday by businesses?

Not much.

Tuesday, November 13, 2012

If your college Degree can't land you a job, demand a refund

Refunds are a common practice for businesses who want to ensure customers return again and again to their places of business, but what is the recourse for an college student who receives a lifetime of propaganda that their college Degree ensures a lucrative career, and it doesn't actually pan out?

Demand a refund of course!

And this is just what one student has done on Nov. 12, by submitting a petititon to the Obama administration to offer college graduates, who owe massive student loan debts, the right to turn in their diplomas in exchange for a refund of their money.


We petition the obama administration to:

Provide University graduates ability to trade their diplomas back for 100% tuition refunds.

Because of the inability of recent college graduates to find gainful employment in order to repay their college debt, and since this college debt cannot be eliminated in bankruptcy, and most of the recent additions to the job market have been in service related industries, the Obama administration should take up the cause of reducing college debt and hold those accountable responsible.

In the name of Consumer Protection, recent college graduates should have the ability to return the diploma and not make any reference to receiving education from the college in exchange for a 100% refund of college tuition. This may be extended with a graduated (ha, get it?) reduction for the last four years, with a red line at January 20, 2008.

While a novel idea, and unique way to hop on the Obama welfare wagon like 53% of Americans have already done, it would probably be more prudent to simply sue the college professors and university where you got your Degree, for failing to teach you basic logic and economics in believing that borrowing $120,000 would guarantee you a chance at one of Obama's famous shovel ready burger flipper jobs.

I'll have some fries with that Mr. Liberal Arts Degree man.

Sunday, November 11, 2012

Reality strikes for food stamp numbers as data download continues after election

Most people with any financial sense knew the BLS data regarding the unemployment rate falling .03 in September was a lie, and sure enough, the data download of real economic indicators after the election bears this out.  Not only did Goldman Sachs immediately on Nov. 7 issue a warning that GDP for the 4th quarter would decline from 1.9 to 1.5%, but on Nov. 10, the Bureau of Labor Statistics (BLS) reported that food stamp applications for October were the highest in over a yea.


There was, however, another closely tracked number which perhaps is far more indicative of the economic "growth" in the past 4 years, which certainly had a delayed release. The number of course is that showing how many Americans are on foodstamps, and usually is released at the end of the month, or the first day or two of the next month. This time the USDA delayed its release nine days past the semi-official deadline, far past the election, and until Friday night to report August foodstamp data. One glance at the number reveals why: at 47.1 million, this was not only a new all time record, but the monthly increase of 420,947 from July was the biggest monthly increase in one year. - Zeroehedge

When you win an election through data manipulation, reporting bad numbers after the fact is in itself a strategy.  President Obama can use these numbers to force a new economic plan on the American people, while ensuring one third of the entire work force is bound to government reliance, and accordingly, political reliance.

Thursday, November 8, 2012

Marc Faber: Obama re-election will be a disaster for US; buy a machine gun

Economist Marc Faber of the famed Gloom, Boom, and Doom report, spoke with Bloomberg television on Nov. 7 regarding the just completed presidential elections. In the interview, Faber had some very stark assessments of what he believes is in store for the economy, and for America.  The well known economist stated that not only will the re-election of Barack Obama be bad for business, and a disaster for the U.S., but people should get a machine gun to protect what remaining assets they have.


“I am surprised with the reelection of Mr. Obama. The S&P is only down like 30 points. I would have thought that the market on his reelection should be down at least 50%...I think Mr. Obama is a disaster for business and a disaster for the United States. Not that Mr. Romney would be much better, but the Republicans understand the problem of excessive debt better than Mr. Obama who basically doesn't care about piling up debt. You also have in the background Mr. Bernanke, who with artificially low interest rates enables the debt to essentially escalate endlessly.”

“They should buy themselves a machine gun…I need to buy a tank. Joking aside, look, we have manipulated markets. Whenever you manipulate markets, you will get unintended consequences. i think the reelection is unintended consequence of money printing, that favors the so- called 0.25%. It was easy for the Democrats to attack the wealthy fat cats of Wall Street, the elite, and the privileged people to portray them as a profiteer of the system, which to some extent, they are. Not because they wanted to but because Mr. Bernanke enabled them to be profiteers. We have a situation where you have today Mr. Obama, I doubt he will stay at the presidency for another four years. I think there will be so many scandals, but that’s another story.” - Marc Faber interview on Bloomberg, Nov. 7

Maybe this more than anything is why both Smith and Wesson, and Sturm Ruger stock was way up on Wesnesday, even though the markets fell more than 300 points.

Wednesday, November 7, 2012

How now down dow

Forward.  That is the new motto of the Obama administration.  Of course, forward slogans were the key rallying cry for Mao and other communist leaders, so the progressives in America appear more than happy to borrow it for their vision of the country.

However, it appears forward is not the rallying cry of the stock markets post-Obama re-election, as the Dow, S&P, and AAPL cry out in terror after breaking key levels.


DOW


S&P 500


2 Month Apple Chart

It seems like only last night everyone was celebrating more hope, if not much change. Now comes the hangover. The Dow Jones intraday drop is now 2.23% (and rising), greater than the biggest drop so far in 2012 record on June 1. The last time the market plunged as much: literally one year ago, or November 9, 2011. Sadly, it appears that one can't have their Dow Jones Industrial Average and redistribute it too. - Zerohedge

Forward!  To infinity and Beyond! That appears to be the no-win mantra of Fed Charman Bernanke and the hope and change of those who still own paper in the Wall Street casino.

Tuesday, November 6, 2012

Jesus and the Democrat (Humor)

A Republican, in a wheelchair, entered a restaurant one afternoon and asked the waitress for a cup of coffee. The Republican looked across the restaurant and asked, "Is that Jesus sitting over there?"  The waitress nodded "yes," so the Republican requested that she give Jesus a cup of coffee, on him.

The next patron to come in was a Libertarian, with a hunched back. He shuffled over to a booth, painfully sat down, and asked the waitress for a cup of hot tea. He also glanced across the restaurant and asked, "Is that Jesus, over there?"

The waitress nodded, so the Libertarian asked her to give Jesus a cup of hot tea, "My treat."


The third patron to come into the restaurant was a Democrat on crutches. He hobbled over to a booth, sat down, and hollered, "Hey there honey! How's about getting me a cold mug of Miller Light?" He too looked across the restaurant and asked, "Isn't that God's boy over there?"

The waitress nodded, so the Democrat directed her to give Jesus a cold beer. "On my bill," he said loudly.

As Jesus got up to leave, he passed by the Republican, touched him, and said, "For your kindness, you are healed." The Republican felt the strength come back into his legs, got up, and danced a jig out the door.

Jesus passed by the Libertarian, touched him, and said, "For your kindness, you are healed." The Libertarian felt his back straightening up, and he raised his hands, praised the Lord, and did a series of back flips out the door.

Then, Jesus walked towards the Democrat, just smiling.

The Democrat jumped up and yelled, "Don't touch me ... I'm on disability."

Monday, November 5, 2012

Tens of thousands of New Yorkers homeless as winter storms approach

Just as Napolean and Hitler learned the hard way that you do not attack Russia in late summer or fall, so too is New York, New Jersey, and many other East Coast states in the wake of hurricane Sandy learning that dealing with reconstruction on the precipice of winter is a harrowing experience.  This is what Governor Cuomo and tens of thousands in New York City are realizing when a new report from Nov. 5 shows that being homeless when winter storms are coming to your city, is the catalyst for intense misery.


First the flood, now the freeze (and the lack of fuel and gas and heating just making it much worse). And for tens of thousands of residents of New York and New Jersey this means that as many as 40,000 will need to find alternative housing, especially ahead of Wednesday when a Nor'easter formation is expected to hit the Tristate area and bring even more freezing rain and cold to the region. From Reuters: "Tens of thousands of people affected by superstorm Sandy could soon need housing as cold weather descends on the state of New York, Governor Andrew Cuomo said on Sunday. Cuomo, in a televised press conference nearly a week after the storm hit the U.S. East Coast, said the fuel shortages are improving but problems will persist for "a number of days."" Elsewhere, and also from Reuters: "Victims of superstorm Sandy on the U.S. East Coast struggled against the cold early on Sunday amid fuel shortages and power outages even as officials fretted about getting voters displaced by the storm to polling stations for Tuesday's presidential election. Overnight, near-freezing temperatures gripped the U.S. northeast. At least two more victims were found in New Jersey, one dead of hypothermia, as the overall death toll from one of worst storms in U.S. history climbed to at least 112. - Zerohedge

Unfortunately, New York is one of the last places where people are willing to open their doors to strangers, and where strangers are just as likely to steal from you during a crisis.  Besides the massive reports of looting in the aftermath of the hurricane, even waitng for hours in a line to get gasoline has forced police to monitor stations due to the fights and potential theft of unprepared citizens.

New York City is a stark opposition to Joplin, Missouri, where neighboring towns welcomes homesless families in after the devasting tornado of 2011.  However, in NYC, it's an ideology of every man for himself, and the fears are the government is unable to deal with the massive amount of numbers homeless, and the people themselves do not want to take the risk of sheltering strangers for long periods of time.

CNBC's Jim Cramer provides insane prediction of Obama landslide

On Nov. 5, Jim Cramer of CNBC's Mad Money program, offered his election prognostication for what tomorrow will bring for the country.  In a parallel to his atrocious stock picking record, and embarrassing diatribe of not selling Bear Stearns just days before it went bankrupt, the former hedge fund manager predicts that President Obama will win by not only a landslide, but with numbers not seen since Ronald Reagan in 1984.

Jim Cramer:

Popular vote:  Obama: 55%, Romney: 45%
Electoral College:  Obama: 440, Romney: 98

Not only are these numbers absurd, there is not one poll, or analyst who is with 100 electors of this insane prediction.  Cramer believes that several states, including long standing conservative ones like Arizona and Texas, will go for Obama, even when they didn't in 2008.


Analysis of Jim Cramer's stock pick performance:

In a quick chat with MarketBeat one of the paper’s authors, Paul Bolster, was kind enough to translate, explaining that Cramer beats the market in part because of the excess risk in his picks. “If we adjust for his market risk, we come up with an excess return that is essentially zero,” Bolster said, adding that “zero,” in this case, means his returns are roughly in line with the risk he’s taking on. “He’s pulling his own weight with respect to the risks that his picks represent,” Bolster said. In the paper, Bolster and fellow finance professor Trahan conclude that “we find inconsistent evidence of Cramer’s ability to add value through security selection.” - WSJ

Numbers wonk Patrick Burns served as the key stat cruncher for the Barron’s story, and here’s his paper explaining his approach. Conclusion: “In my opinion, Jim Cramer’s stock-picking superiority is at best unproved.”

Then of course, there is Cramer's more recent epic fail when he pushed the Facebook IPO on his show.



Looks like the man who is part of the psychopathic 1%, who believe taking massive risks at the detriment of investors and the country, is simply adding to his resume of being the fool and joker of Wall Street.

Friday, November 2, 2012

No laughing at Doomsday Preppers now as FEMA and Red Cross fail again after Sandy

In times of trouble, your charitable donations and taxes, that in the good times go to fund organizations such as the Red Cross and Fema, seem to disappear as these agencies end up doing very little for the residents of disaster areas.  During hurricane Sandy, where both the government and Red Cross had more than 8 days to prepare for the exact locations where the storm would strike, few efforts by both agencies could be found.

And on November 1st, the disgust was so great for the Red Cross, a Staten Island official publicly announced that no American should give donations to the decades old relief agency.


“Because the devastation in Staten Island, the lack of a response,” Mr. Molinaro said to explain his comment to NBC after the press conference. “You know, I went to a shelter Monday night after the storm. People were coming in with no socks, with no shoes. They were in desperate need. Their housing was destroyed. They were crying. Where was the Red Cross? Isn’t that their function? They collect millions of dollars. Whenever there’s a drive in Staten Island, we give openly and honestly. Where are they? Where are they? I was at the South Shore yesterday, people were buried in their homes. There the dogs are trying to find bodies. The people there, the neighbors who had no electricity, were making soup. Making soup. It’s very emotional because the lack of a response. The lack of a response. They’re supposed to be here….They should be on the front lines fighting, and helping the people.” - Politicker

Additionally, where was FEMA with their warehouses full of MRE's and other basic necessities for just this purpose?  On the outside looking in, and from their track record during and after Katrina, it is no wonder why.

As National Review’s Kevin William’s points out, FEMA has wasted “shocking amounts of money,” including the expenditure of $416,000 per capita to temporarily house people displaced by Hurricane Katrina, issuing $2000 debit cards to hurricane victims without bothering to check their identification, and allowing nearly 11,000 unused manufactured homes to deteriorate on old runways and open fields in Arkansas. - Front Page Magazine

It is ironic that Americans laugh or make fun of preppers, and the government uses their prudence to exploit class warfare between the haves and have nots.  But the sad truth is, in times of trouble, you are responsible for yourselves and your family, and if you wait for the agencies that gladly take your money during times of peace, it is a fool's errand to believe that money will be of any use when disaster strikes.

Thursday, November 1, 2012

Comedian shows children about Obama economics by redistributing their halloween candy

Obama economics is about two things.  Crony capitalism (Solyndra, GM, etc...), and taking from the middle class to give to the poor.  Through inflation, taxation, and regulation, the Obama administration's policies have destroyed more middle class incomes than any President in history.

So to ensure that the younger generations understand what President Obama's class warfare and tax the rich socialism is all about, a Fox News correspondant on Oct. 30 went out to a local trick or treating area and began to teach redistribution to the children, using their halloween candy.


Picture courtesy of Sodahead.com



There you go.  It is ingrained in human kind at birth to enjoy the fruits of ones own hard work, and redistribution, as stated plainly from the mouths of babes, is stealing.