Obama’s bogus jobs data

THIS FATHERLESS CHILD IS THE BEST LIAR SINCE THE LAST FATHERLESS CHILD.

Congress should investigate cooked employment books

MUSIC TO READ BY:

By THE WASHINGTON TIMES

-

The Washington Times

The White House hyped the news Friday that January payrolls had risen by 243,000. The hitch is the Bureau of Labor Statistics (BLS) also dropped 1.2 million from the calculated workforce. Somehow this net loss of a million workers in a single month was transformed into an improvement in the unemployment rate. As the old saying goes, figures can lie, and liars can figure.

“Job growth was widespread,” the BLS reported, but most Americans sense that something isn’t quite right with the numbers. The most important change was the deep decline in the workforce. While the overall population jumped an 1.6 million in January, the workforce declined a record-setting 1.2 million. This figure represents those who out of sheer frustration or for other reasons have dropped out of what the government defines as the active labor pool. They are worse than simply unemployed; they are both jobless and hopeless.

The good news for Obama administration statisticians is that these unfortunates don’t factor into the official unemployment rate, which only counts those thought to be looking for work. So while five people drop out of the system in despair for every new job created, the official unemployment rate declines and the White House enjoys a good news day.

“The recovery is speeding up,” President Obama declared. However, the broader measures tell a different story. The employment-to-population ratio, the most comprehensive jobs number, remained flatlined at 58.5 percent, around where is has been for at least a year. The number lacking jobs has likewise remained steady at 41.5 percent. The overall participation rate, the percentage making up the workforce in the population, accelerated an already steep decline to a 30-year low of 63.7 percent. In short, the recovery is not speeding up – people are simply giving up.

The participation rate is a subjective measure and highly subject to manipulation. The lower it goes and the more people are dropped from the unemployment equation, the better the numbers will look for the White House. This figure has been dropping sharply since Mr. Obama took office. Last month, an analysis at the Zero Hedge financial website noted that by extending the logic of reporting progressively fewer labor-force participants, “America will officially have no unemployed when the Labor Force Participation rate hits 58.5 percent, which should be just before the presidential election.” Maybe that’s the plan.

A year ago, there were 99 million people either officially unemployed or otherwise not working, and the official unemployment rate was 9.1 percent. Now, unemployment reported by the government is down to 8.3 percent, but the number without jobs has topped 100 million. The disconnect between increasing joblessness in America and the rosy White House official statistics should be the subject of a congressional investigation. Something does not add up.

The Washington Times

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• Fri Feb 3 18:25:19 2012 · by tobyhill · 7 replies

  Commentary Magazine ^ | 2/3/2012 | Peter Wehner

  I wanted to add a note of caution to John Steele Gordon’s post regarding today’s Bureau of Labor Statistics report on the unemployment rate. It’s certainly true there’s good news in the report. But if you examine the internal data, there are also grounds for concern. To be specific: the labor-force participation number fell to 63.7 percent, the lowest (seasonably-adjusted) figure since May 1983. If the economy were stronger, an increase of 250,000 jobs would actually move the unemployment rate up a bit, as people who had given up looking for work would once again start (meaning they would be…

MUSIC FOR THE MSNBC:

Obama’s bogus jobs data

Congress should investigate cooked employment books

MUSIC TO READ BY:

By THE WASHINGTON TIMES

-

The Washington Times

The White House hyped the news Friday that January payrolls had risen by 243,000. The hitch is the Bureau of Labor Statistics (BLS) also dropped 1.2 million from the calculated workforce. Somehow this net loss of a million workers in a single month was transformed into an improvement in the unemployment rate. As the old saying goes, figures can lie, and liars can figure.

“Job growth was widespread,” the BLS reported, but most Americans sense that something isn’t quite right with the numbers. The most important change was the deep decline in the workforce. While the overall population jumped an 1.6 million in January, the workforce declined a record-setting 1.2 million. This figure represents those who out of sheer frustration or for other reasons have dropped out of what the government defines as the active labor pool. They are worse than simply unemployed; they are both jobless and hopeless.

The good news for Obama administration statisticians is that these unfortunates don’t factor into the official unemployment rate, which only counts those thought to be looking for work. So while five people drop out of the system in despair for every new job created, the official unemployment rate declines and the White House enjoys a good news day.

“The recovery is speeding up,” President Obama declared. However, the broader measures tell a different story. The employment-to-population ratio, the most comprehensive jobs number, remained flatlined at 58.5 percent, around where is has been for at least a year. The number lacking jobs has likewise remained steady at 41.5 percent. The overall participation rate, the percentage making up the workforce in the population, accelerated an already steep decline to a 30-year low of 63.7 percent. In short, the recovery is not speeding up – people are simply giving up.

The participation rate is a subjective measure and highly subject to manipulation. The lower it goes and the more people are dropped from the unemployment equation, the better the numbers will look for the White House. This figure has been dropping sharply since Mr. Obama took office. Last month, an analysis at the Zero Hedge financial website noted that by extending the logic of reporting progressively fewer labor-force participants, “America will officially have no unemployed when the Labor Force Participation rate hits 58.5 percent, which should be just before the presidential election.” Maybe that’s the plan.

A year ago, there were 99 million people either officially unemployed or otherwise not working, and the official unemployment rate was 9.1 percent. Now, unemployment reported by the government is down to 8.3 percent, but the number without jobs has topped 100 million. The disconnect between increasing joblessness in America and the rosy White House official statistics should be the subject of a congressional investigation. Something does not add up.

The Washington Times

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The Occupy movement and the president either don’t realize or purposely neglect to mention that our country has one of the most level economic playing fields of any country that has ever been. More

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Yossi Gestetner
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Obama’s SOTU: Still No Manufacturing Jobs
Howard Richman & Raymond Richman
In his January 24 State of the Union speech, President Obama argued that American manufacturing is already coming back under his presidency. But his actual record on manufacturing jobs is dismal. More

Illinois is broke, so let’s spend more
February 4, 2012
Logic only a Democrat could love. More

Obama proposes another housing boondoggle to help ‘underwater’ homeowners
February 4, 2012
It’s the same mindset that believes that more “stimulus” will grow the economy. More

UN moves to promote a ‘world tax’
February 4, 2012
Funding planetary social welfare programs. More

January Unemployment Report: The Devil is in the Details
February 3, 2012
January’s unemployment numbers are much worse than reported. More

Don’t Get Too Excited About Jobs Numbers (Labor Dept. tries to bamboozle Americans)

• Fri Feb 3 18:25:19 2012 · by tobyhill · 7 replies

  Commentary Magazine ^ | 2/3/2012 | Peter Wehner

  I wanted to add a note of caution to John Steele Gordon’s post regarding today’s Bureau of Labor Statistics report on the unemployment rate. It’s certainly true there’s good news in the report. But if you examine the internal data, there are also grounds for concern. To be specific: the labor-force participation number fell to 63.7 percent, the lowest (seasonably-adjusted) figure since May 1983. If the economy were stronger, an increase of 250,000 jobs would actually move the unemployment rate up a bit, as people who had given up looking for work would once again start (meaning they would be…

MUSIC FOR THE MSNBC:

47 Signs That China Is Absolutely Destroying America In The Global Economy

Michael Snyder,

Have you ever watched a football game or a basketball game where one team dominates the other team so badly that calling it a “blowout” would be a huge understatement? Well, that is what China is doing to the United States.

China is absolutely destroying America on the global economic stage. Once upon a time, the Chinese economy was a joke and the U.S. economy was the most powerful the world had ever seen. But over the past couple of decades the U.S. economy has decayed and declined while the Chinese economy has skyrocketed.

Today, China makes more steel, more automobiles, more beer, more cotton, more coal and more solar panels than we do. China has the fastest train in the world, the fastest computer in the world and they export twice as much high-tech equipment as we do.

In 2011, our trade deficit with China was the largest trade deficit that one nation has had with another nation in the history of the world, and China has now accumulated more than 3 trillion dollars in foreign currency reserves.

Every single day, we lose more jobs, more businesses and more of our national wealth to China.  In technical economic terms, China has “taken us out behind the woodshed” and has beaten the living daylights out of us.  Unfortunately, most Americans are so addicted to entertainment that they don’t even realize what is happening.

If you do not believe that China is wiping the floor with America in front of the rest of the world, just keep reading.  The following are 47 signs that China is absolutely destroying America on the global economic stage….

#1 Back in 1998, the United States had 25 percent of the world’s high-tech export market and China had just 10 percent. Today, China’s high-tech exports are more than twice the size of U.S. high-tech exports.

#2 America has lost more than a quarter of all of its high-tech manufacturing jobs over the past ten years.

#3 The Chinese economy has grown 7 times faster than the U.S. economy has over the past decade.

#4 In 2010, China produced more than twice as many automobiles as the United States did.

#5 In 2010, China produced 627 million metric tons of steel.  The United States only produced 80 million metric tons of steel.

#6 In 2010, China produced 7.3 million metric tons of cotton.  The United States only produced 3.4 million metric tons of cotton.

#7 China produced 19.8 percent of all the goods consumed in the world during 2010.  The United States only produced 19.4 percent.

#8 During 2010, we spent $365 billion on goods and services from China while they only spent $92 billion on goods and services from us.

#9 In 1985, the U.S. trade deficit with China was 6 million dollars for the entire year.  The final U.S. trade deficit with China for 2011 will be very close to 300 billion dollars.  That will be the largest trade deficit that one nation has had with another nation in the history of the world.

#10 The U.S. trade deficit with China is now 28 times larger than it was back in 1990.

#11 Since China entered the WTO in 2001, the U.S. trade deficit with China has grown by an average of 18% per year.

#12 According to the New York Times, a Jeep Grand Cherokee that costs $27,490 in the United States costs about $85,000 in China.

#13 According to the Economic Policy Institute, America is losing half a million jobs to China every single year.

#14 The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000.

#15 The United States had been the leading consumer of energy on the globe for about 100 years, but during the summer of 2010 China took over the number one spot.

#16 15 years ago, China was 14th in the world in published scientific research articles.  But now, China is expected to pass the United States and become number one very shortly.

#17 China is also expected to soon become the global leader in patent filings.

#18 In 2009, the United States ranked dead last of the 40 nations examined by the Information Technology & Innovation Foundation when it came to “change” in “global innovation-based competitiveness” over the previous ten years.

#19 China now awards more doctoral degrees in engineering each year than the United States does.

#20 China now possesses the fastest supercomputer on the entire planet.

#21 China now has the world’s fastest train and the world’s most extensive high-speed rail network.

#22 The construction of the new $200 million African Union headquarters was funded by China.

#23 Today, China produces nearly twice as much beer as the United States does.

#24 85 percent of all artificial Christmas trees are made in China.

#25 Amazingly, China now consumes 53 percent of the world’s cement.

#26 There are more pigs in China than in the next 43 pork producing nations combined.

#27 China is now the number one producer of wind and solar power on the entire globe.

#28 Chinese solar panel production was about 50 times larger in 2010 than it was in 2005.

#29 Right now, China is producing more than three times as much coal as the United States does.

#30 China controls over 90 percent of the total global supply of rare earth elements.

#31 China is now the number one supplier of components that are critical to the operation of U.S. defense systems.

#32 According to author Clyde Prestowitz, China’s number one export to the U.S. is computer equipment.  According to an article in U.S. News & World Report, during 2010 the number one U.S. export to China was “scrap and trash”.

#33 The United States has lost an average of 50,000 manufacturing jobs a month since China joined the World Trade Organization in 2001.

#34 Back in the year 2000, more than 20 percent of all jobs in America were manufacturing jobs.  Today, only about 5 percent of all jobs in America are manufacturing jobs.

#35 Between December 2000 and December 2010, 38 percent of the manufacturing jobs in Ohio were lost, 42 percent of the manufacturing jobs in North Carolina were lost and 48 percent of the manufacturing jobs in Michigan were lost.

#36 The average household debt load in the United States is 136% of average household income.  In China, the average household debt load is 17% of average household income.

#37 The new World Trade Center tower is going to be made with imported glass from China.

#38 The new MLK memorial on the National Mall was made in China.

#39 A Washington Post/ABC News poll conducted a while back found that 61 percent of all Americans consider China to be a threat to our jobs and economic security.

#40 According to U.S. Representative Betty Sutton, an average of 23 manufacturing facilities a day closed down in the United States during 2010.

#41 Overall, more than 56,000 manufacturing facilities in the United States have shut down since 2001.

#42 According to Professor Alan Blinder of Princeton University, 40 million more U.S. jobs could be sent out of the country over the next two decades.

#43 Over the past several decades, China has been able to accumulate approximately 3 trillion dollars in foreign currency reserves, and the U.S. government now owes China close to 1.5 trillion dollars.

#44 According to the IMF, China will pass the United States and will become the largest economy in the world in 2016.

#45 According to one prominent economist, the Chinese economy already has roughly the same amount of purchasing power as the U.S. economy does.

#46 According to Stanford University economics professor Ed Lazear, if the U.S. economy and the Chinese economy continue to grow at current rates, the average Chinese citizen will be wealthier than the average American citizen in just 30 years.

#47 Nobel economist Robert W. Fogel of the University of Chicago is projecting that the Chinese economy will be three times larger than the U.S. economy by the year 2040 if current trends continue.

If the global economy was a game, America would be losing very badly and China would have all the momentum.

Unfortunately, the global economy is not a game.  Very real businesses and very real jobs are affected by this every single day.

Barack Obama keeps talking about how “the economy is improving“, but the reality is that we have never even gotten close to where we were back before the financial crisis of 2008.

The following chart (which I pulled off a Fed website today) shows the average duration of unemployment in America.  Does this look like an economic recovery to you?….

The Obama administration tells us that the official unemployment rate is only 8.5 percent, but that is a joke.  Even the Congressional Budget Office admits that the official unemployment rate should actually be somewhere up around 10 percent.

But the real story is the number of long-term unemployed workers we have in America today.

According to the Hamilton Project, approximately 53 percent of all unemployed workers in the state of Florida were out of work for more than six months during 2011.

But Barack Obama seems absolutely amazed that there are still so many unemployed people out there during his “economic recovery”.   Just check out the following interaction that took place between Obama and one concerned wife during a recent appearance by Obama on Google+….

“Can I ask you what kind of engineer your husband is?,” Obama said to the wife of the unemployed engineer.

“He’s a semiconductor engineer,” she responded.

“It is interesting to me — and I meant what I said if your send me your husband’s resume, I’d be interested in finding out exactly what’s happening right there because the word that we’re getting is that somebody in that type of high-tech field, that kind of engineer, should be able to find something right away.”

Obama does not realize that it is not so simple to “find something right away” in this economy.

We have been shipping high-tech jobs overseas at a blistering pace.  The jobs simply are not there anymore.

In Europe, unemployment is even worse.  Just check out this chart which shows what has been happening to youth unemployment in Europe recently.

In both the United States and Europe, a great disconnect has taken place.  Just because big corporations in the U.S. and in Europe are doing well, that does not mean that they are going to provide good jobs for workers in the U.S. and in Europe.

These days, it is way too easy for big corporations to ship jobs over to places like China where it is perfectly legal to pay workers slave labor wages.

So unless something changes, that means that from now on there will be chronic structural unemployment problems in the United States.

That also means that the number of Americans dependent on the government is going to continue to increase.

And unfortunately, there are signs that the economy is about to experience another downturn.  Consumer confidence in the U.S. is falling once again.  The Baltic Dry Index, which is often used as a measure of the health of the world economy, has fallen more than 60 percent since October.

Perhaps most importantly of all, Europe is heading into a recession and several European nations are already experiencing depression-like conditions.

Considering the fact that half of all global trade involves Europe in some manner, that is not a good thing for us.

So if you have a job right now, you might want to hold on to it tightly.  Jobs are precious commodities at the moment, and they are going to become even more scarce in the years ahead.

Please follow Business Insider on Twitter and Facebook.

Lachlan Markay

January 26, 2012 at 4:38 pm

George Soros, a billionaire investor and major backer of President Obama, stands to reap a windfall from legislation promoting natural gas-powered vehicles. The White House unveiled a proposal on Thursday that would do just that.

The proposal would offer incentives for companies to buy and use trucks powered by natural gas. Obama announced the effort at a UPS facility in Las Vegas that received stimulus funding to buy natural gas vehicles and build a fueling station for them.

The proposal is remarkably similar to the New Alternative Transportation to Give Americans Solutions (NAT GAS) Act.

One company that stands to benefit handsomely from the president’s proposal is Westport Innovations. The company converts diesel engines to be fueled by natural gas. Wall Street analysts predicted a boom for the company if the NAT GAS Act were passed. CNBC analyst Jim Cramer said he “expects shares to absolutely explode” in the event the legislation were to pass.

Jim Cramer made positive mention of Westport, calling it a solid play on natural gas should Congress pass its pending Natural Gas Act. Westport converts diesel engines (i.e. – those found in semi trailers) into ones that run on natural gas.

Benefiting Westport is that it’s: A) basically first to the market, at least in terms of mass production, and B) high barriers of entry for competition because of the complex technology involved in the transformations.

If Westport reaps the predicted windfall, one of the chief beneficiaries will be George Soros, a major Obama donor and supporter. Soros’s hedge fund holds 3,160,063 company shares (as of its last SEC filing).

HOW WILL OBAMA SPIN THESE NUMBERS?

LET’S GO TO DISNEY WORLD AND TALK ABOUT TOURISM.

Joe Weisenthal

That’s the final, pathetic growth number for 2011.

From the just-released GDP report:

Real GDP increased 1.7 percent in 2011 (that is, from the 2010 annual level to the 2011 annual level), compared with an increase of 3.0 percent in 2010.

The increase in real GDP in 2011 primarily reflected positive contributions from personal consumption expenditures (PCE), exports, and nonresidential fixed investment that were partly offset by negative contributions from state and local government spending, private inventory investment, and federal government spending.  Imports, which are a subtraction in the calculation of GDP, increased.

Not exactly a barnburner.

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“We are I think in a good position to by the end of this year to have put in place the most important building blocks of reform,” Geithner said at the Charlotte Chamber of Commerce. “We’re a little behind where we thought we would be but we’re behind because we’re trying to get the substance right.”

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CHARLOTTE, North Carolina (Reuters) – Treasury Secretary Timothy Geithner sought to calm fears that the Obama administration’s bank reforms were hostile to the U.S. financial industry, saying on Wednesday the reforms were “tough where they need to be tough.”

“I know that people are concerned that they will be too tough. I don’t think there is much risk of this. I think there is no evidence of that,” Geithner told the Charlotte Chamber of Commerce one day after President Barack Obama used his State of the Union address to toughen his stance on Wall Street.

South Sudan and Kenya sign oil pipeline deal

South Sudan signed an agreement with Kenya to build an oil pipeline to a Kenyan port, potentially freeing it from reliance on its northern neighbour Sudan, officials said Wednesday.

South Sudan became the world’s newest state when it split from the north last year but while it has most of the oil, Khartoum controls the pipeline and has access to the sea, causing frequent rows between the former civil war foes.

A memorandum of understanding was signed by Kenya and South Sudan “for the construction of the new pipeline,” said Elizabeth James Bol, South Sudan’s deputy minister of petroleum and mining.

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01/25/2012 4:14PM – Dow Jones Business News

Fed Sees Low Rates Through 2014
01/25/2012 12:55PM – Dow Jones Business News

MARKET SNAPSHOT: U.S. Stocks Cheer Fed’s Rate Pledge
01/25/2012 3:56PM – Dow Jones Business News

3rd UPDATE: Fed Sees Low Rates Through 2014
01/25/2012 3:49PM – Dow Jones Business News

Read more: http://www.nasdaq.com/aspx/market-headlines.aspx#ixzz1kVqgLUbp

• Fed and Apple reignite buying on Wall Street

  NEW YORK (Reuters) – Big profits from Apple and a promise from the Federal Reserve to keep rock-bottom rates for at least two more years powered the U.S. stock market higher on Wednesday. Apple Inc led the Nasdaq to a 1 percent gain. Shares of the maker of iPhones and iPads … More »Fed and Apple reignite buying on Wall Street

  

  Bernanke says Fed pondering further stimulus

  WASHINGTON (Reuters) – Federal Reserve Chairman Ben Bernanke said on Wednesday the central … More »Bernanke says Fed pondering further stimulus

  ECB split on how to handle any Greek bond losses: sources

  FRANKFURT (Reuters) – The European Central Bank has ruled out taking … More »ECB split on how to handle any Greek bond losses: sources

  Business Slideshows

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  1. Apple sets record high sales 

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  2. Futuristic fold-up car makes its debut 

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  3. Sen. Rand Paul stopped by airport securi … 

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  4. Google’s new LA campus 

     20 photos

  • Top Stories
  • Economy
  • Stock Markets
  • Earnings
  • Personal Finance
  • Taxes

  • 

    Netflix shares surge as customer base grows Reuters – 18 mins agoLOS ANGELES (Reuters) – Netflix Inc’s fourth-quarter revenue outpaced Wall Street’s expectations as the video rental website reversed subscriber losses to sign up more … More »Netflix shares surge as customer base grows 

    

    LOS ANGELES (Reuters) – Netflix Inc’s fourth-quarter revenue outpaced Wall Street’s expectations as the video rental website reversed subscriber losses to sign up more than 600,000 new U.S. customers in the period, pushing its shares up 13 percent. Netflix, which revolutionized the home video industry but in 2011 outraged …

  • 

    Geithner denies U.S. hostility to banks Reuters – 6 mins agoCHARLOTTE, North Carolina (Reuters) – Treasury Secretary Timothy Geithner sought to calm fears that the Obama administration’s bank reforms were hostile to the U.S. financial … More »Geithner denies U.S. hostility to banks 

    

    CHARLOTTE, North Carolina (Reuters) – Treasury Secretary Timothy Geithner sought to calm fears that the Obama administration’s bank reforms were hostile to the U.S. financial industry, saying on Wednesday the reforms were “tough where they need to be tough.” “I know that people are concerned that they will be too tough. …

  • 

    Exclusive: Senate investigating HSBC for money laundering Reuters – 17 mins ago(Reuters)- HSBC Holdings PLC is under investigation by a U.S. Senate panel in a money-laundering inquiry, the latest step in a long-running U.S. effort to halt shadowy … More »Exclusive: Senate investigating HSBC for money laundering 

    

    (Reuters)- HSBC Holdings PLC is under investigation by a U.S. Senate panel in a money-laundering inquiry, the latest step in a long-running U.S. effort to halt shadowy money flows through global banks, according to people familiar with the situation and a company securities filing. The inquiry being conducted by the Senate …

  • 

    Boeing 2012 earnings to be hit by pension expense Reuters – 1 hr 2 mins ago(Reuters) – Boeing Co said on Wednesday that a pension expense larger than Wall Street had anticipated would weigh on its 2012 earnings, but it handed investors good … More »Boeing 2012 earnings to be hit by pension expense 

    

    (Reuters) – Boeing Co said on Wednesday that a pension expense larger than Wall Street had anticipated would weigh on its 2012 earnings, but it handed investors good news with expectations for increased commercial aircraft deliveries this year. The world’s largest aerospace and defense company said the expense would amount …

  • 

    Housing data points to slowdown in sales Reuters – 17 mins agoWASHINGTON (Reuters) – Signed contracts for the sale of existing U.S. homes retreated from a 1-1/2-year high in December and demand for home loans fell last week, pointing … More »Housing data points to slowdown in sales 

    

    WASHINGTON (Reuters) – Signed contracts for the sale of existing U.S. homes retreated from a 1-1/2-year high in December and demand for home loans fell last week, pointing to a moderation in home sales after recent hefty gains. But the reports on Wednesday did not change perceptions that a nascent recovery is under way …

  • Penney clears out clearance with new pricing plan Reuters – 2 hrs 46 mins agoNEW YORK (Reuters) – J.C. Penney Co Inc is doing away with deep discounts in favor of offering shoppers simpler pricing, and plans to carve up its stores into about 100 … More »Penney clears out clearance with new pricing plan 

    NEW YORK (Reuters) – J.C. Penney Co Inc is doing away with deep discounts in favor of offering shoppers simpler pricing, and plans to carve up its stores into about 100 shops featuring specific brands, the department store’s new executive team said on Wednesday. The store changes will take until 2015 to complete. Shares …

  • 

    Stellar Apple results point to a good year ahead Reuters – 16 mins ago(Reuters) – Apple Inc shares surged the most in more than three years, after skyrocketing iPhone and iPad sales helped it smash Wall Street expectations, prompting analysts … More »Stellar Apple results point to a good year ahead 

    

    (Reuters) – Apple Inc shares surged the most in more than three years, after skyrocketing iPhone and iPad sales helped it smash Wall Street expectations, prompting analysts to raise their price targets on the stock by as much as $100. Shares of the company, which reported results for its first full quarter without charismatic …

  • 

    Fed unlikely to raise rates until at least 2014 AP – 1 hr 11 mins agoThe Federal Reserve went further than ever Wednesday to assure consumers and businesses that they’ll be able to borrow cheaply well into the future. More »Fed unlikely to raise rates until at least 2014 

    

    The Federal Reserve went further than ever Wednesday to assure consumers and businesses that they’ll be able to borrow cheaply well into the future.

  • 

    Stocks close higher on Fed promise of low rates AP – 26 mins agoThe stock market bounced to its highest close since last spring Wednesday after the Federal Reserve pledged to keep interest rates near zero for almost three more ye … More »Stocks close higher on Fed promise of low rates 

    

    The stock market bounced to its highest close since last spring Wednesday after the Federal Reserve pledged to keep interest rates near zero for almost three more years.

  • 

    Netflix regains 600K US subscribers in 4Q AP – 54 mins agoNetflix regained 600,000 U.S. customers in the fourth quarter as the video subscription service began to recover from a revolt against a big price increase. More »Netflix regains 600K US subscribers in 4Q 

    

    Netflix regained 600,000 U.S. customers in the fourth quarter as the video subscription service began to recover from a revolt against a big price increase.

  • 

    Studies: Avastin may fight early breast cancers AP – 31 mins agoSurprising results from two new studies may reopen debate about the value of Avastin for breast cancer. The drug helped make tumors disappear in certain women with early-stage … More »Studies: Avastin may fight early breast cancers 

    

    Surprising results from two new studies may reopen debate about the value of Avastin for breast cancer. The drug helped make tumors disappear in certain women with early-stage disease, researchers found.

  • 

    Apple juggernaut gets little investor respect AP – 1 hr 3 mins agoApple is worth $415 billion, putting it neck and neck with Exxon Mobil as the world’s most valuable company. But by standard Wall Street measures, its stock is a bar … More »Apple juggernaut gets little investor respect 

    

    Apple is worth $415 billion, putting it neck and neck with Exxon Mobil as the world’s most valuable company. But by standard Wall Street measures, its stock is a bargain.

  • 

    Safety regulator: ‘We pulled no punches’ on Volt AP – 34 mins agoThe government “pulled no punches” in investigating battery fires in the Volt, General Motors’ prized electric car, the head of the federal auto safety agency told Congress … More »Safety regulator: ‘We pulled no punches’ on Volt 

    

    The government “pulled no punches” in investigating battery fires in the Volt, General Motors’ prized electric car, the head of the federal auto safety agency told Congress on Wednesday.

  • 

    ‘Open for business’: Ind. House OKs right-to-work AP – 18 mins agoIndiana’s Republican-controlled House of Representatives cleared the way Wednesday to become the first right-to-work state in a traditionally union-heavy Rust Belt increasingly … More » 

  STOCKS SURGE AND THE FED SEES LOW INTEREST RATES FOR YEARS: Here’s What You Need To Know

  

  Sam Ro | 1,482 | 10

  And did you hear about Apple earnings?

  Read »

  Netflix Describes The Future Of TV And It Sounds Awesome

  

  Jay Yarow
  819 | 2

  More

  • Roubini scares the crap out of Davos
  • Meet the soldiers who rescued Jessica Buchanan last night
  • WATCH: Ray Lewis’ inspiring post-game speech
  • GEITHNER WILL NOT STAY FOR ANOTHER TERM

  RSS What’s Happening

  

  CONFESSIONS OF A FACEBOOK EMPLOYEE: What It’s Really Like Working For Zuckerberg

  “He does have a touch of the Asperger’s.”

  8,949 | 12

  

  The Next 17 Big Companies That Are At Risk Of Bankruptcy

  Goodbye Kodak, Hello Caesar’s.

  87,375 | 12

  

  The Fabulous Life Of Tom Brady (Or, Why Everyone Thinks He’s A Pretty Boy)

  The perks of being the Golden Boy.

  11,861 |

   

  

  WATCH: Epic Bank Robbery Fail As A Thief Shoots Himself In The Foot

  Kamelia Angelova | Jan. 25, 5:30 PM | 120 |

  Literally.

  Read »

  

  These Are America’s 10 Oldest Public Companies

  Diane Bullock, Minyanville | Jan. 25, 5:23 PM | 945 |

  Over 200 years old and still going strong.

  Read »

VINTAGE PHOTOS: 120 Years In The History Of Washington Square Park

Matthew Kassel | Jan. 25, 5:18 PM | 995 | 1

Nostalgia for NYU alumni.

Read »

McDonald’s Is Testing Out An Invisible DNA Spray To Catch Thieves

Kim Bhasin | Jan. 25, 5:18 PM | 133 |

Robber prevention.

 

Read »

Entry-Level Facebook Engineers Get A $100,000 Salary, $50,000 Signing Bonus, And $120,000 In Stock

Nicholas Carlson | Jan. 25, 5:15 PM | 635 | 1

!

Read »

America’s Billionaires Are Giving To Pandas Instead Of People Who Really Need It

Pablo Eisenberg, The Chronicle of Philanthrophy | Jan. 25, 5:14 PM | 321 | 11

And no one seems to mind.

Read »

This Military Video Scandal Shows Airmen Bludgeoning A Sheep To Death

Robert Johnson | Jan. 25, 5:11 PM | 132 |

Someone owes the Army an apology.

Read »

Chloë Sevigny Joins The ‘Lovelace’ Cast As Demi Moore Bows Out

Kirsten Acuna | Jan. 25, 5:11 PM | 89 | 1

Demi ‘Loveless’ no more.

Read »

 

WATCH: Lionel Messi Just Went On A Dazzling Run To Set Up A Barcelona Goal Against Real Madrid

Tony Manfred | Jan. 25, 5:03 PM | 334 | 2

The best on Earth.

Read »

5 Laid-Off Workers Talk About Making The Leap To Different Careers

Blaire Briody, The Fiscal Times | Jan. 25, 5:00 PM | 238 | 1

“Is my new job better or worse? It’s both.”

Read »

 

The Lady In This Citi Ad REALLY Did Climb That Dizzying Rock Tower

Amazing photos from behind the scenes of the “somebody left the gate open” commercial.

19,320 | 15

Stop What You’re Doing, And Go See What Google Thinks It Knows About You

Based on your web surfing habits.

18,274 | 18

Meet SEAL Team 6, The Badasses Who Rescued Jessica Buchanan Last Night

The best of the best.

Read more: http://www.businessinsider.com/#ixzz1kVr2MhGf

• Read more: http://www.businessinsider.com/#ixzz1kVqrQHOX
• • ‘Open for business’: Ind. House OKs right-to-work

    

    Indiana’s Republican-controlled House of Representatives cleared the way Wednesday to become the first right-to-work state in a traditionally union-heavy Rust Belt increasingly targeted by non-union foes.

  • 

    J.C. Penney gets rid of hundreds of sales AP – 16 mins agoJ.C. Penney is permanently marking down all of its merchandise by at least 40 percent so shoppers no longer have to wait for sales to get bargains. More »J.C. Penney gets rid of hundreds of sales 

    

    J.C. Penney is permanently marking down all of its merchandise by at least 40 percent so shoppers no longer have to wait for sales to get bargains.

  • Could you be a 15-percenter? Decoding tax rates AP – 1 hr 4 mins agoMillionaires can be just like everyone else. At least when it comes to paying taxes. More »Could you be a 15-percenter? Decoding tax rates 

    Millionaires can be just like everyone else. At least when it comes to paying taxes.

  • 

    Apple briefly passes Exxon as most valuable co. AP – 43 mins agoApple briefly surpassed Exxon as the most valuable U.S. company after an excellent quarter, though the oil company has regained the lead at the market’s close. More »Apple briefly passes Exxon as most valuable co. 

    

    Apple briefly surpassed Exxon as the most valuable U.S. company after an excellent quarter, though the oil company has regained the lead at the market’s close.

  • Senate Democrats promise to push Obama tax agenda AP – 5 mins agoPresident Barack Obama’s Democratic allies in the Senate promised Wednesday to press ahead this year with legislation drawn from his plans to require millionaires to … More »Senate Democrats promise to push Obama tax agenda 

    President Barack Obama’s Democratic allies in the Senate promised Wednesday to press ahead this year with legislation drawn from his plans to require millionaires to pay at least 30 percent in taxes and curb tax preferences for companies that ship jobs overseas.

  • 

    Geithner denies U.S. hostility to banks Reuters – 6 mins agoCHARLOTTE, North Carolina (Reuters) – Treasury Secretary Timothy Geithner sought to calm fears that the Obama administration’s bank reforms were hostile to the U.S. financial … More »Geithner denies U.S. hostility to banks 

    

    CHARLOTTE, North Carolina (Reuters) – Treasury Secretary Timothy Geithner sought to calm fears that the Obama administration’s bank reforms were hostile to the U.S. financial industry, saying on Wednesday the reforms were “tough where they need to be tough.” “I know that people are concerned that they will be too tough. …

  • Geithner: Unlikely to be asked to stay if Obama wins Reuters – 6 mins agoWASHINGTON (Reuters) – U.S. Treasury Secretary Timothy Geithner said on Wednesday he would not expect to be asked to continue as Treasury chief if President Barack Obama … More »Geithner: Unlikely to be asked to stay if Obama wins 

    WASHINGTON (Reuters) – U.S. Treasury Secretary Timothy Geithner said on Wednesday he would not expect to be asked to continue as Treasury chief if President Barack Obama wins re-election. “He’s not going to ask me to stay on, I’m pretty confident,” Geithner said in response to a question during a Bloomberg television interview …

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• Another body found, 13th victim of shipwreck
• Joe Paterno, revered coach tainted by scandal, dies
• Obama: State of the Union an economic blueprint
• Megaupload founder held in N. Zealand, home raided
• Megaupload boss says he’s innocent, rival stops file-sharing

2             Wall Street stalls at open after big run

NEW YORK (Reuters) – Stocks were little changed in early trading on Monday after equities posted their best week in a month as the euro zone debt crisis and the economy showed signs of stabilizing. Germany and France pressed for a rapid deal between Greece and its private … More »Wall Street stalls at open after big run

3               Apache to pay $2.8 billion for Anadarko basin acreage

(Reuters) – Oil and gas producer Apache Corp will buy privately held … More »Apache to pay $2.8 billion for Anadarko basin acreage

 

4          Men Who Built RIM Admit They Aren’t Ones To Save It

 

With the company struggling to regain ground lost to Apple and Android devices, Mike Lazaridis and Jim Balsillie step down as co-CEOs and board chairmen. Continue »

Elizabeth Woyke

 

 

5                       China Is 175.6% Dependent On American Consumers

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• Does Web Piracy Hurt The Economy? A Look At The Data

  E.D. Kain

• Greece? We Ought To Worry More About The Romanians

  Tim Ferguson

• With Joe Paterno’s Death, Penn State Can Turn Page

  Patrick Rishe

• AdVoice: What Marketers Can Learn From CES

  Carolyn Ladd

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RIM and BlackBerry on the edge under new CEO

TORONTO/LONDON (Reuters) – Takeover talk swirled around Research In Motion on Monday as … More »RIM and BlackBerry on the edge under new CEO

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• 

  Davos man weighs future of capitalism Reuters – 2 hrs 7 mins agoDAVOS, Switzerland (Reuters) – The Occupy movement, which went global after protests against Wall Street last year, is camping in igloos to bring its argument with the … More »Davos man weighs future of capitalism
• 

  Germany, France press for Greek debt deal Reuters – 1 hr 55 mins agoPARIS/BERLIN (Reuters) – Germany and France pressed on Monday for a rapid deal between Greece and its private creditors that returns its soaring debt to sustainable levels … More »Germany, France press for Greek debt deal
• 

  Thyssen, Outokumpu discuss stainless steel tie-up Reuters – 3 hrs agoDUESSELDORF, Germany/HELSINKI (Reuters) – Germany’s ThyssenKrupp and Finland’s Outokumpu are in early talks over a stainless steel tie-up, moving towards the long-awaited … More »

A Surprising Country Is Leading The World In Deleveraging

Common wisdom has it backwards.

3,518 | 11

Look How Much Better Workers Have It In Germany Than In America

The good life at $40,000.

6,270 | 55

Broke In New York? Here’s How To Make An Extra $21,000 Per Year On The Side

(Legally)

3,433 | 11

Google’s Biggest Advertisers Are Also Its Enemies

Jim Edwards | Jan. 23, 10:58 AM | 87 |

Here’s a breakdown of Google’s most lucrative ad clients, which include Amazon, Apple and Microsoft.

Read »

One Of The Hedge Funds Involved In The Insider Trading Scandal That Broke Last Week Is Already Settling

Linette Lopez | Jan. 23, 10:57 AM | 64 |

Diamondback Capital says ‘uncle.’

Read »

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11 Rising Tech Stars To Watch In 2012

Alyson Shontell | Jan. 23, 10:56 AM | 1,368 |

You can expect these people to make the next billion-dollar companies or IPO this year.

Read »

Canada Doesn’t Have Enough Workers To Tap The Oil Sands, And The Shortage Is Getting Worse

Gus Lubin | Jan. 23, 10:52 AM | 111 |

Raymond James downgrades growth prospects.

Read »

The 49ers Player Who Fumbled A Punt Return Leading To A Giants Win Is Getting Death Threats On Twitter

Lorenzo Arguello | Jan. 23, 10:51 AM | 134 |

San Francisco fans are seriously overreacting.

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An Igloo City Has Sprung Up In Protest At Davos

Robert Johnson | Jan. 23, 10:47 AM | 53 |

Tons of snow being put to use.

Read »

Russia Inks Deal With Syria For Over Half A Billion Dollars Worth Of Fighter Jets

Sanya Khetani | Jan. 23, 10:43 AM | 79 |

No one tells the Kremlin who they cannot sell arms to.

Read »

The Top 10 Superyachts That Sold In 2011

Boat International | Jan. 23, 10:28 AM | 2,233 |

One dates back to 1929.

Read »

GOLDMAN: ‘Go Short 10-Year US Treasuries’

Joe Weisenthal | Jan. 23, 10:23 AM | 565 | 2

Big call.

Read »

RIM’s Stock Tanks After Hiring A No-Name CEO Who Might Be Worse Than What They Had

Jay Yarow | Jan. 23, 10:15 AM | 720 | 2

Bad start for the Thorsten Heins-era.

Read »

Barton Biggs Is ‘Terrified’ By His Own Stock Positions

Dilemma.

1,046 | 3

Obama Was Warned By His Economic Team That His Campaign Promises Would Create A Mountain Of Debt

‘This could come as a considerable sticker shock to the American public’

2,047 | 34

Mainland Visitors Eating On A Hong Kong Train Caused A Huge Fight

Resentment continues to escalate…

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Read more: http://www.businessinsider.com/#ixzz1kIbOpNAu

• Thyssen, Outokumpu discuss stainless steel tie-up 

• SEC, SIPC to argue in court over Stanford claims Reuters – 55 mins agoWASHINGTON (Reuters) – Securities regulators are due in court on Tuesday to argue that a brokerage industry-backed protection fund should let thousands of victims of … More »SEC, SIPC to argue in court over Stanford claims 

• Companies see growth but few new jobs: poll Reuters – 3 hrs agoWASHINGTON (Reuters) – Few U.S. companies plan to step up hiring in the next six months although they do expect the economy to be a bit stronger this year, according … More »Companies see growth but few new jobs: poll 

• 

  Europe should boost bailout fund, consider euro bonds: Lagarde Reuters – 4 hrs agoBERLIN (Reuters) – The head of the IMF called on European governments to boost the size of their rescue fund and consider financial risk-sharing steps like common euro … More »Europe should boost bailout fund, consider euro bonds: Lagarde 

• 

  French business morale sours in Jan as gloom spreads Reuters – 5 hrs agoPARIS (Reuters) – Business morale in France’s manufacturing sector dropped unexpectedly in January as uncertainty over the state of the euro zone and world economy as … More »French business morale sours in Jan as gloom spreads 

• 

  US stocks edge up as Greece negotiates to cut debt AP – 36 mins agoU.S. stocks are slightly higher, following a rise in European markets on hopes that Greece will reach a deal with private creditors on lowering its debt. More »US stocks edge up as Greece negotiates to cut debt 

• 

  BlackBerry maker co-CEOs step down as co-CEOs AP – 1 hr 11 mins agoThe new chief executive of BlackBerry maker Research in Motion said Monday drastic change is not needed after he assumed his new job following the departure of Jim Balsillie … More »BlackBerry maker co-CEOs step down as co-CEOs 

• Study finds tablet, e-book ownership soared AP – 3 hrs agoTablets and e-readers were a popular gift over the holidays, so much so that the number of people who own them nearly doubled between mid-December and January, a new … More »Study finds tablet, e-book ownership soared 

• Dutch minister warns of forced Greek debt losses AP – 1 hr 35 mins agoThe Dutch finance minister says Greece’s private creditors may be forced to take losses if they can’t reach a deal to cut the country’s massive debt pile voluntarily … More »Dutch minister warns of forced Greek debt losses 

• Forecasters see small pickup in growth for 2012 AP – 2 hrs 3 mins agoA new economic forecast calls for the U.S. economy to make some modest growth strides this year, but not quite enough to significantly reduce the number of jobless Americans … More »Forecasters see small pickup in growth for 2012 

• Chesapeake to cut natural gas production AP – 1 hr 24 mins agoFaced with decade-low natural gas prices that have made some drilling operations unprofitable, Chesapeake Energy Corp. says it will drastically cut drilling and production … More » 

DATA SNAP: Euro-Zone Consumer Confidence Edges Up In January
01/23/2012 10:59AM – Dow Jones Business News

US Stocks Extend Gains; RIM Tumbles
01/23/2012 10:59AM – Dow Jones Business News

GRAIN HIGHLIGHTS: Top Stories Of The Day
01/23/2012 10:54AM – Dow Jones Business News

UPDATE:Court Rules In Favor Of Boston Scientific In J&J Patent Case
01/23/2012 10:46AM – Dow Jones Business News

Fox Sports To Launch Channel As Part Of Brazil Expansion
01/23/2012 10:45AM – Dow Jones Business News

Lagarde Wants Sustainable Solution In Greece Debt Talks
01/23/2012 10:45AM – Dow Jones Business News

EU’s Rehn Confident Greek PSI Talks Will End Shortly
01/23/2012 10:45AM – Dow Jones Business News

Cyprus Fin Min Says Greek Deal May Not Happen This Week
01/23/2012 10:45AM – Dow Jones Business News

BASE METALS HIGHLIGHTS: Top Stories Of The Day
01/23/2012 10:33AM – Dow Jones Business News

Thermon to Announce Third Quarter Fiscal 2012 Earnings – February 9, 2012
01/23/2012 10:32AM – GlobeNewswire

DNB Financial Corporation Announces 2011 Fourth Quarter and Full Year Earnings
01/23/2012 10:32AM – GlobeNewswire

Cardtronics Announces Fourth Quarter and Full-Year 2011 Earnings Release Date and Conference Call I
01/23/2012 10:27AM – GlobeNewswire

PRECIOUS METALS HIGHLIGHTS: Top Stories Of The Day
01/23/2012 10:27AM – Dow Jones Business News

Halliburton CEO Sees Overall Increase In Rig Count For 2012
01/23/2012 10:09AM – Dow Jones Business News

US Stocks Edge Higher As Investors Eye Euro-Zone Talks
01/23/2012 10:03AM – Dow Jones Business News

UPDATE:Chesapeake Energy To Cut Drilling, Production Due To Gas Glut
01/23/2012 10:01AM – Dow Jones Business News

Comtech Telecommunications Corp. Receives $1.0 Million of Orders for SATCOM Products to Power Gover
01/23/2012 10:00AM – GlobeNewswire

OIL FUTURES: Crude Up After EU Sets Oil Sanctions On Iran
01/23/2012 9:56AM – Dow Jones Business News

Intel To Buy QLogic’s InfiniBand Business For $125 Million In Cash
01/23/2012 9:53AM – Dow Jones Business News

Italy Antitrust Body Asks Oil Firms For Sicily Price Information
01/23/2012 9:49AM – Dow Jones Business News

Treasury Yields Hit New 2012 Highs
01/23/2012 9:37AM – Dow Jones Business News

IMF’s Lagarde: Want Sustainable Solution In Greece Debt Talks
01/23/2012 9:31AM – Dow Jones Business News

Federal Court Rules In Favor Of Boston Scientific In J&J Patent Case
01/23/2012 9:30AM – Dow Jones Business News

EU Rehn: Confident Greek PSI Talks Will End Shortly, Hopefully This Week
01/23/2012 9:25AM – Dow Jones Business News

UPDATE: Halliburton 4Q Net Up 50% On Strength In North America
01/23/2012 9:25AM – Dow Jones Business News

US Stock Futures Pointed Higher; German Auction Eases Greece Worries
01/23/2012 9:20AM – Dow Jones Business News

Belgium PM: Willing To Consider Larger Euro Firewall
01/23/2012 9:07AM – Dow Jones Business News

Peru To Pay Over $300,000 For Newmont Mine Review -Report
01/23/2012 8:56AM – Dow Jones Business News

Irish Fin Min: To Meet With Draghi Tuesday On Irish Bank Debt
01/23/2012 8:55AM – Dow Jones Business News

ECB’s Noyer Sees French Economy Picking Up By Spring
01/23/2012 8:54AM – Dow Jones Business News
Read more: http://www.nasdaq.com/aspx/market-headlines.aspx#ixzz1kIXtK1EB

• Chesapeake to cut natural gas production

• 

  Halliburton rides oil boom to 4Q profit AP – 2 hrs 7 mins agoHalliburton’s net income spiked 50 percent in the final three months of 2011 as one of the world’s biggest oilfield services companies shifted its focus from natural … More »Halliburton rides oil boom to 4Q profit 

• Apache buying Cordillera Energy in $2.85B deal AP – 1 hr 30 mins agoOil and gas producer Apache Corp. is buying privately-held Cordillera Energy Partners III LLC in a cash-and-stock deal valued at $2.85 billion. More »Apache buying Cordillera Energy in $2.85B deal 

• Oil up to above $99 as EU imposes embargo on Iran AP – 10 mins agoOil rose above $99 a barrel Monday after the European Union formally adopted an oil embargo against Iran to pressure it to resume talks on its nuclear program. More »Oil up to above $99 as EU imposes embargo on Iran 

• 

  EU formally adopts Iran oil embargo AP – 1 hr 32 mins agoThe European Union imposed an oil embargo against Iran on Monday and froze the assets of its central bank, part of sanctions to pressure Iranian officials into resuming … More »EU formally adopts Iran oil embargo 

• Exclusive: EU’s Barnier examines more bank pay limits Reuters – 6 mins agoLONDON (Reuters) – The European Commission is considering more rules to curb banker pay, including a possible limit on how much star performers and managers are paid … More »Exclusive: EU’s Barnier examines more bank pay limits 

• 

  Administration nominees awaiting next move by GOP AP – 9 mins agoSenate Republicans are returning to Washington in an angry mood over President Barack Obama’s appointments to two key agencies during a year-end break. More »Administration nominees awaiting next move by GOP 

• Greek debt hopes shore up markets despite delay AP – 9 mins agoHopes that Greece will reach a deal with private creditors on lowering its debt — in spite of talks between Athens and banks’ representatives continuing into this week … More »Greek debt hopes shore up markets despite delay 

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Market Summary 

Symbol	Last	Change
Dow	12,732.06	+11.58	+0.09%
Nasdaq	2,796.11	+9.41	+0.34%
S&P 500	1,319.03	+3.65	+0.28%
10 Yr Bond(%)	2.0650%	+0.0370
Oil	99.37	+1.04	+1.06%
Gold	1,672.70	+9.00	+0.54%

• UK unemployment rises to 8.3 percent
• Oil falls below $99 after surprise US supply rise
• Ford hopes to keep Escape on top with redesign

For a guy that needs to create jobs in the private sector but wouldn’t know how if the jobs were there and jumped up and bit him in the ass, Obama once again no longer ceases to amaze.  Nope got to have the Injustice Department file suit against Boeing for wanting to build a plant in South Carolina, but predictably sends his communist friends in Brazil the jobs instead.

WE THE PEOPLE

U.S. Air Force Gives Big Contract to Brazil

Front Page Magizine

Tait Trussell

Comment by Jim Campbell

Interestingly at this point checking out George Soros’ holdings, Embraer is not among them.

That’s my story and I’m sticking to it, I’m J.C. and I approve this message.

As for the Embraer contract, while outsourcing this to the Brazilian company would create only 50 jobs in the U.S., Hawker Beechcraft says its AT-6 plane would open up about 1,400 jobs at 181 companies in 39 states. The manufacturing parts and supply chains all would remain in the U. S. Rep. Barack fooled us into thinking that he wanted to create jobs in America. Justifiably, Rep. Tim Huelskamp (R-Kan) blasted the Administration’s decision Dec. 27.

Last March President Obama announced that he wants the U.S. to be one of Brazil’s “best customers” for their oil, although the U.S. has eight times more petroleum resources than does Saudi Arabia if only we’d drill for it.

Now the Obama government is awarding a $1 billion contract to a Brazilian aircraft manufacturer—Embraer–instead of American Hawker Beechcraft Corp., which has two years and $100 million invested in a light attack aircraft’s development.

All the more remarkable is the Brazilian company, Embraer, is under investigation by the Securities and Exchange Commission (SEC) and the Justice Department for possible violations of the Corrupt Practices Act.

IS THE U.S. A THIRD WORLD COUNTRY?

THE REPUBLICANS WERE ELECTED TO STOP THE BIGGEST SPENDER IN HISTORY.

DID THEY? HA, HA, HA, HA…

Peter Schiff`s

S &P DOWNGRADES EUROPE BUT 2 COUNTRIES IN EUROPE ARE IN BETTER FISCAL SHAPE THAN THE U.S. AND ANOTHER 4 OR 5 HAVE ABOUT THE SAME DEBT TO GDP RATIO…

January 18, 2012

Objectively speaking, the U.S. and Italy, for instance, have very similar national debt profiles. Yet interest rates in Washington are currently 600 basis points lower than they are in Rome.

This means that Americans can borrow and spend much more. The result of all this extra debt financed consumption is a boost in employment and GDP. The positive economic impact makes the dollar even more attractive, thereby perpetuating the cycle.

If rates in Italy (or Spain for that matter) were as low now as they were two years ago, those countries would not be experiencing the problems they are today. Their borrowing costs would never have risen and their budgets would still be manageable. Similarly, higher interest rates in the U.S. would completely take the shine out of our economy.

Imagine what would happen here if rates were just 200 basis points higher, let alone 600? U.S. consumers, homeowners, corporations, and governments are particularly dependent on cheap financing. As bad as things are in Europe, they would be even worse here. – in Business Insider

Related, SPDR S&P 500 Index ETF (SPY), ProShares UltraShort 20+ Year Treasuries ETF (TBT), iShares Barclays 20+ Year Treasuries Bonds ETF (TLT), Ishares Italy ETF (EWI)

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.

‘GOP gave up on debt-ceiling battle in August’

Rep. Mulvaney: Republicans ‘lacked political will’ to change Washington

Published: 3 days ago