Apr 19 2009
Obama’s And The Congressional Democrats’ Achille’s Heel
Bumped To Top For The Weekend
There has been a slow moving train wreck in progress for months now, where the American people’s anger and frustration is on a collision course with Democrat policies enacted under President Obama. It is definitely not the poor picked on conservatives carping about government oppression from DHS – but more on that later. It’s the economy stupid!Â
This past week we have seen the stunning results of President Bush’s fast action on the banking crisis. Wells Fargo Bank surprised many with its hints it may record $3 billion in profits in the first quarter. JP Morgan is ready to pay back its $25 billion in TARP funds. All of these results, which do not reflect a complete salvation of our banking system by any means, are the results of actions taking late last year. Nothing Obama did in the last 3 months has had much of an effect on these positive events. But now all the rich bankers seemed to have been rescued (or are on their way to being rescued) from our economic tsunami.
So where is average America? GM is and Chrysler were not bailed out, they are facing bankruptcy. And the only thing the taxpayers can see is generations of debt being built up in time spans of months, when it used to be decades to see this much national debt created.
Average America is out of work or working a job well below their potential. Average America is hurting, and they are not liking what they are seeing. They could care less about the fat cats being rescued, they need to be bailed out too! They certainly don’t give a damn about the conservative drama queens acting like the paranoid liberals did on charges the NSA was monitoring Americans – see how well that worked for the left?.
Americans are concerned about their personal well being and the future of their families. The following graph was created by the Wall Street Journal to map the bad news on jobs across this country (click the image to use). It shows a stunning unemployment rate in Michigan (home of the auto makers) of nearly 13%! Oregon comes in at 12% and California at 11.2%.
![[map]](http://s.wsj.net/public/resources/images/OB-DM872_promo__D_20090417175451.jpg)
Here are a couple of state specific charts from the US Bureau of Labor Statistics website showing the stunning climb in unemployment since the economic meltdown last summer, first in California:
This is a record breaking year in California – worse than the Carter years:
The California figures contrasted with a national jobless rate of 8.5 percent in March. The new jobless figures are the highest since records first began to be released in 1976.
And we all know how the country changed after 4 years of Carter and Democrats in Congress. And it is expected to still get worse over the summer. Now look at Florida’s numbers:
 
Florida’s numbers are not as high, but that might be because that state is seeing a lot of people give up on finding a new career job – for now. This can be seen in the massive drop off in their labor market in the last 3 months:
The phenomena is called “under employment“, and it can mean the job problem in our economy is much worse than the unemployment numbers show:
April 6 (Bloomberg) — Joseph Ramelo gave up searching for work in January to return to school, two months after he was laid off as a San Francisco election clerk. Antonio Poe is struggling to get by doing part-time landscaping in Greensboro, North Carolina, after losing his job as an electrician.
While such workers are feeling real pain from the recession that began in December 2007, they’re not represented in the 8.5 percent unemployment rate the Labor Department reported last week. They are part of a broader group that includes those who want a job but have stopped looking for work and those who want full-time positions but have to settle for part-time employment.
A measure of underemployment that counts those people has almost doubled over the past two years, to 15.6 percent, providing a more complete gauge of the labor market’s deterioration.
Where is the bail out for America’s workers? Supposedly there was this thing called a Stimulus bill that was supposed to create (or save, as the Obama/Democrat spin always included) millions of new jobs. Well it hasn’t, and it won’t anytime soon (if ever). The following graph is the latest update on the recovery from the two departments that got a majority of the so called stimulus money (Energy and Transportation). It also shows 3 other departments (State, Interior and DoD) as well as NASA (click to enlarge).
 The key take away from the chart is the money is not moving out of DC- so there are no jobs coming. The previous graph from 3/27/09 can be found here, but it doesn’t look much different because not much is changing – except the contents of the reports from the government. These weekly status reports used to contain the first column (Appropriated) to show how much money was supposedly in the pipeline, but they have removed that column since my last chart. I will keep the column for comparison because it helps explain the continuing decline in the job market since the money supposedly going to create jobs is not there. So far, not much is moving.
As of 3/27/09 $105 billion dollars had been appropriated across these 6 parts of the federal government. At that time only 4.8% had been ‘obligated’ to specific projects, and an insignificant 0.0016% ($1.66 million) had actually been dispersed to begin work.
As of 4/14/09 only 9.3% of the money had been ‘obligated’ ($9.8 billion), and a still insignificant 0.0023% ($2.4 million) had actually been dispersed to begin work.
This is why Obama touts a 900 job program as progress when we are losing over 600,000 a month nationally – that’s all he’s got to show! It is pathetic.
What is really frustrating is there is no credible opposition to Obama and the Congressional Dems able to point out this situation to America. The conservatives (what’s left of them) are running around screaming they are being oppressed like that peasant character from Monty Python’s Holy Grail. It doesn’t matter how much sanity breaks through through occasionally now on the right, they are damaged goods.
So where does a country go to get some answers? Why is it that the bankers and fat cats are healed, yet average American men, women and families are still deep in the throws of economic crisis? The answer is because government doesn’t create jobs – the private sector does.
If this nation was going to go into debt to get out of this mess, it should have cut taxes to spur economic growth, like Kennedy, Reagan and George W Bush did successfully. The government should have primed the small business job creation pump and let it rip. But no, we had to try the same failed socialistic policies that have failed innumerable times across the globe. Now we are going massively into debt and getting NOTHING in return.
This picture is going to change as slowly as the federal bureaucracy crawls even at its fastest speed. Outside of the military, the Feds do not move fast at all, and tend to slow things way down. And this is the slow moving train wreck that is heading right at the Dems and Obama.
SBD
“Everyone is assuming that Obama and the Dems passed the Stimulus Bill to help the economy that was about to fall of a cliff if the bill did not get passed.”
Actually I think very few people assume that.. Most assume what you assume.
It was widely reported in January that the stimulus spending wouldn’t “kick in” until 2010. It should come as no surprise to anyone. I read it on practically every news network there is.
But I believe it was reported AFTER the bill passed. I am not sure how many lawmakers knew at the time that the spending was really a Democrat “rake in the vote” project for the mid-term elections since most apparently never even read the legislation before voting on it.
Oh lordy, now we find out. Drama queens get your pom poms out.
But they think we’re fools, read this:Michael Ward, FBI deputy assistant director for counterterrorism, said in an interview Thursday that the portion of the operation focusing on the military related only to veterans who draw the attention of Defense Department officials for joining white-supremacist or other extremist groups.
note that: only veterans, that is people that are now not on active duty that have completed their service, who join white-supremacist groups which means we’re talking ‘white’ veterans.
and then the report says, now read this carefully:
The FBI documents show the bureau was working with investigators inside the nation’s uniformed services “in an effort to identify those current or former soldiers who pose a domestic terrorism threat.
Did I read that correctly? didn’t the statement before that say only veterans?
what does this statement say?
was working with investigators inside the nation’s uniformed services to identify ‘current’ or ‘former’ soldiers
“inside the nation’s uniformed services? current? wouldn’t that mean ‘active duty personnel’?
Now I read this as: The Obama admin is targeting white active duty and veterans of the US military forces as being terrorists and are lying in a lame attempt to deny it.
but then others may read it differently.
http://online.wsj.com/article/SB123992665198727459.html
so now we know we have tax cheats and liars investigating current military people as terrorists..
but give them a chance..
excuse me, I nearly overlooked this, from that report:
that sentence was just before the sentence about investigators inside the nation’s uniformed services.
which I interpret to mean: whoops, we screwed up, we were supposed to remove that sentence so they wouldn’t know we were targeting active duty white guys. Just trolling, so to speak.
gee, I bet they’re sorry that got out.
Well there is this:
But consider the source. The statement comes from the “Southern Poverty Law Center”.
The hypocrisy of the Left is just amazing. There may have been an incident which was originally supposed to be in that DHS report when it was leaked that would have been explosive. The incident was going to report that a wealthy version Timothy McVeigh had planned to try and harm President Obama with a Dirty Bomb during his inauguration.
The problem was that while the he was a white supremacy, he wasn’t from the far right, but rather was from the far Left!! So because of this little flaw in the story, a major terrorist threat from our own backyard was never reported in the MSM except in Maine where it happened. This inspite the fact that the an FBI intelligence report had been leaked to wiki-leaks with all of the details.
FBI FIELD INTELLIGENCE GROUPS Page 11
9 December 2008
Discovery of Radiological Dispersal Device Components, Literature, and Radioactive Material at the Maine Residence of an Identified Deceased US Person On 9 December 2008, radiological dispersal device components and literature, and radioactive materials, were discovered at the Maine residence of an identified deceased USPER James Cummings. Cummings had possible ties to white supremacist groups.
On 9 December 2008, four one-gallon containers of 35 percent hydrogen peroxide, lithium metal, thermite, aluminum powder, beryllium, boron, black iron oxide, and magnesium ribbon were discovered at the Cummings’ residence. (FBI comments: Literature on constructing ‘dirty bombs’; information referring to cesium-137, strontium-90, and cobalt-60; and possible evidence linking James ((Cummings)) to white supremacist groups were also discovered.)
(Source comments: Amber ((Cummings)) admitted to the shooting death of her husband James Cummings citing years of mental, physical, and sexual abuse. Amber Cummings retained legal counsel upon being questioned by law enforcement about any involvement with white supremacists. James Cummings was reported to have inherited two million dollars and to have resided in multiple states prior to relocating to Maine.)
Amber ((Cummings)) indicated James was very upset with Barack Obama being elected President. She indicated James had been in contact with ‘white supremacist group(s)’.
Amber also indicated James mixed chemicals in the kitchen sink at their residence and had mentioned ‘dirty bombs’. (Source comment: State authorities detected radiation emissions in four small jars in the residence labeled ‘uranium metal’, as well as one jar labeled ‘thorium.’ The four jars of uranium carried the label of an identified US company.)
An application for membership in the National Socialist Movement, which had been completed by James
Cummings was discovered.
(FBI comments: Uranium, thorium, cesium-137, strontium-90, and cobalt-60 are radioactive isotopes. 35 percent hydrogen peroxide is a necessary precursor for the manufacture of peroxide-based explosives.
Lithium metal, thermite, and aluminum are materials used to sensitize and amplify the effects of explosives.
The identified US Company in this report sold the depleted uranium online.
Source: FBI IIR 4 218 1563 09
The Yahoo Groups page for the National Socialist Movement describes themselves as follows.
The official group for the National Socialist Freedom Movement. The National Socialist Freedom Movement was the ORIGINAL National Socialist Movement. OUR RACE IS OUR NATION AND RELIGION!! WE REFUSE TO BE DIVIDED OR CORRUPTED BY RELIGION!! THIS GROUP IS POLITICAL. WE SUPPORT THE SEPARATION OF CHURCH AND STATE AND ARE LAW ABIDING. The NSLF (Party Main Office) NSM. POB 8226 Tulsa, Ok 74101 White Peoples Message 918- 835 – 3311 Umbrella group for the Uniformed Divisions- National Socialist Movement (www.nsm88.org) Be warned- most of the people in this group are educated and are well aware that ALL of Christ- ianity is JEWISH (THIS ALSO INCLUDES WHAT IS KNOWN AS “CHRISTIAN IDENTITY”) and is a JEWISH TOOL to destroy our Aryan Folk, who were originally PAGAN. Any posts made to this group supporting Christianity will be deleted. FOR THOSE WHO WISH TO BE ACTIVE SUPPORTERS – Visit the FILES section for this E GROUP – pictures, app- lications, documents, booklets, foldouts, materials avai- lable, AUDIO DISKS – PROPAGANDA MATERIALS – REMEMBER, WHETHER IN UNIFORM OR NOT – AGITATE! EDUCATE! ORGANIZE! – unless you are content to be serfs, slaves and servants of the WORLD IMPERIALISTS! This organization and e-group is owned by Chairman Clifford Herrington FIGHTING FOR FAMILY, RACE AND NATION!! NOW IS THE HISTORIC TIME! NOW IS THE TIME TO ADVANCE! NOW IS THE TIME FOR ALL ARYAN VOLK TO ARISE AS ONE MAN AND ATTACK! Legally, Propaganda wise and without REMORSE! NO APOLOGIES! NO RESTRAINT! NO SENSITIVITY! FOR IF YOU DO NOT ACT NOW YOUR VOLK IS DOOMED! ADVANCE TO THE ATTACK! ADVANCE FOR YOUR PEOPLES! ADVANCE FOR TOMORROW BELONGS TO US! Out with the Traitors! Out with the sellouts, demicans and republicrats and kosher judaic “materialistic” egotistical money grubbers! WHO FIGHTS FOR YOU AND YOUR PEOPLE? No one! EXCEPT THE NATIONAL SOCIALIST MOVEMENT!
SBD
I feel adrift. I feel like AJ is a little over the top in his conservative bashing, the other conservative sites are over the top in their RINO bashing … there is no place of reasoned discussion, it seems.
Everyone seems too extreme. Maybe it’s me, I don’t know. It’s hard to explain. We are a great country. We have people who span the entire spectrum of political thought. Rather than alienating each other we should be listening to each other. People should be able to accept getting a part of their agenda in exchange for allowing another a part of theirs but we seem so block-headed. Our way or the highway. All or nothing. I just want to be left alone to live my life and raise my kids without having anyone else’s social agenda shoved down my throat.
Thank you and goodnight.
Dear Democrats,
Palamino!
(sorry, been watching old SNL reruns)
CA used to be seen as the land of opportunity–what happen. Years and years of socialist styled programs and a massive influx of illegals, and finally an economic downturn. The events in CA are a bell-weather for the rest of the nation and people should take notice. The economy may or may not take a turn for the better, if it improves the Obama administration will take all the credit, if it gets worse then they will tell us that its taking longer than they figured to fix the problems left by the Bush Administration. In neither case will the blame fall on them. And the elite media, organs of Obamaism, will tell us the same thing. The truth will become, as it always has been, a casuality of spin and interruption based on political bias. The economy will improve, if the Keynesian economic planners will allow it too.
Redteam,
Congrats – your point about the fact the report had not been fully vetted by those who would refocus it on the threat from the right extremists groups is more proof this is not about you drama queens.
QED: Move on, before it is just you and your other two paranoid friends left to turn out the lights on the GOP.
CP,
The basing comes because now the conservative movement is a negative on getting this nation back on track. The bashing is deserved as they play victim over something that has nothing to do with them.
I am being fair and consistent, now that the right is doing to DHS what the left did to the NSA.
CP,
So sorry to here about the suicide. I am preparing a post on the real damage being done since we had a murder-suicide in our area too recently.
Hopefully you understand my frustration with the drama queens on the right now. Have to deal with a destroyed family while some go off pretending the government is after them sort of puts the drama queens in harsh perspective.
[…] was extremely saddened to see this recent comment from one of best known and valued readers, Crosspatch: One family friend is laid off. Their house […]
Although I am glad to hear that some banks have swung back around to profitability…..there is an article out today that just as many banks have closed this year (2009) as did last year (2008).
U.S. closed banks match total for all of 2008
http://news.yahoo.com/s/nm/20090418/ts_nm/us_financial_american_failure
Frogg, they are showing a profit but they aren’t lending money. And who would want to in a deflationary economy? When an economy is deflating it becomes more and more difficult to repay the loan balance. The loan balance grows in real dollar terms at the rate of deflation as opposed to shrinking in real dollar terms in an inflationary economy.
This also has tremendous consequences for the government debt. When you have inflation, 100 dollars borrowed now is easier to repay in 10 years time. In a deflationary economy, 100 dollars now becomes more difficult to repay.100 dollars is worth more in 10 years time than when you borrowed it. As the economy deflates, so does GDP and so the debt as a percentage of GDP increases. You become deeper in a debt that is more expensive to repay.
One of the primary reasons for the sudden profit at the banks is an end to “mark to market” requirements. With Mark to Market, if a house foreclosed and sold for less than market value, banks were forced to mark down the value of ALL mortgages they held. So a few failed loans could put their entire portfolio “under water”. That requirement has been lifted and they can now show a more realistic valuation on mortgages that are in good standing.
But the fact remains that their reserves are going up but the money in circulation is not. They aren’t lending the money. M1 isn’t rising at nearly the pace that M0 is. The cash is just sitting there. Are the “in cahoots” with the administration and going to release a wave of lending to boost the economy next year? I have no idea, but it is worth watching.
So, Crosspatch, if the banks were given billions, and they are hanging on to the money, does that mean it is no wonder they are showing a profit on the books right now?
And, then there is this:
Bank bailout plan’s ‘stress tests’ already causing stress
Bankers and regulators worry about how much of the results to
release. Too much or too little information could undermine the financial institutions or the bailout.
http://www.latimes.com/news/nationworld/world/la-fi-stress-tests19-2009apr19,0,655575.story
Frogg, you don’t show a profit from just holding cash, you have to lend it to make money. They are showing a profit because they are now able to mark up the values of loans that were marked down under the old “mark to market” rules. And if they slowly mark them back up over the course of the year, they can show a gradual “profit” that is nothing more than balance sheet manipulation.
In order to really make money they need to lend money and collect interest.
[…] By mid April it was a done deal. The data was coming in and my suspicions were proven out, and it was worse than I had originally imagined: So where is average America? GM is and Chrysler were not bailed out, they are facing bankruptcy. And the only thing the taxpayers can see is generations of debt being built up in time spans of months, when it used to be decades to see this much national debt created. […]