Daily Archives: November 22, 2010

From Exhausted Defending Obama to the Unemployment Line

Remember back in September the lady who stood up and told Barack Obama how she was exhausted trying to defend his policies, covered here back in September?

If you recall, she said to Obama, “Quite frankly, I’m exhausted. Exhausted of defending you, defending your administration, defending the man for change I voted for, and deeply disappointed with where we are right now” and went on to ask, “And quite frankly, Mr. President, I need you to answer honestly, Is this my new reality?”

Her new reality, as expressed in an interview with CNBC is that she has been laid off from her job as the chief financial officer for Am Vets, a veteran services organization based in Maryland as part of a cost cutting effort.

The lady, Velma Hart is upbeat for now saying, “I want to focus on the positive and be optimistic, and assume that somehow things will work out, that there’s an opportunity out there with Velma’s name on it that’s right around the corner.”

Good luck, Ms. Hart. There are hundreds of thousands, if not millions of other Americans still looking for employment, many who have exhausted temporary unemployment benefits.

Story here at Tacoma News Tribune

Tell ’em where you saw it. Http://www.victoriataft.com

Pete the Banker: Treachery: Health Insurers, Big Pharma rush to save Obamacare??

 With the Republicans having a new found majority in the House of Representatives and the likelihood they will follow through with their campaign promise to repeal of the Health Reform Bill, guess who has emerged to fight a repeal?  It’s none other than the major Health Insurers and large Drug Companies, those “evil corporations” that Obama described as “deceptive and dishonest” last year and who he suggested wanted to kill Healthcare Reform here. But Health Insurers like United Health (the subject of prior posts) and Drug Companies like Merck were in the back room with Obama, Baucus, and Pelosi, scheming to mandate enrollment of 30 million uninsured to collecting additional premiums/drug sales in exchange for the Administration’s mandates to modify existing Health Insurance coverage.  Well one thing we can agree on with Obama is that the Health Insurers/Drug Companies were “dishonest and deceptive” as were all those present in that backroom away from the public view!

 

And isn’t it curious that the those “deceptive and dishonest” Health Insurers and Drug Companies are now lobbying to prevent the repeal of Obamacare?  “At the same time, some industry groups are worried that Republican plans to undo the centerpiece of the law, which President Barack Obama signed in March, could unravel other backroom deals they cut with the White House, forcing them to fight costly legislative battles all over again here.”   Of most concern to the insurers is that a repeal would result in “eliminating millions of potential customers” (emph added)

Meanwhile the Drug Companies fear the loss of deals negotiated with the Administration, resulting in their agreement to pay additional taxes and provide temporary drug discounts to the elderly in exchange for the Administration and Democrats arranging, “not to allow the Medicare program, which covers the elderly and disabled, to negotiate drug prices, as do most state Medicaid programs that cover the poor. Additionally, the Administration agreed to continue blocking the re-importation of drugs from Canada  (here).”   
So the Republicans and House Speaker Boehner, based upon priniciple, intend to push strongly for reform and repeal especially of the individual mandate, fighting the Administration’s and Democrat’s kleptocracy together with an army of lobbyists from Health Insurers like Cigna and Health United together with big Pharma.  
But, of course, the Democrats in passing Health Care have always suggested that they were simply looking after the best interests of the little guy and the electorate, certainly not Big Business?????!   Given that assurance, it seems rather curious that Big Business seems intent on looking out after the Democrats, the Administration and its rather unpopular spawn, Health Care Reform!!

Tell ’em where you saw it. Http://www.victoriataft.com

Pete the Banker: Fed Will Slash Economic Growth and Employment Increase Projections Tuesday

The US Federal Reserve is expected to slash its growth forecasts and predict higher unemployment when it releases updated economic projections on Tuesday, perhaps explaining its recent decision to launch it’s new $600 Billion program to purchase long term securities.
When the FOMC published its June economic growth forecast it estimated that 2011 growth would be between 3.5 and 4.2 per cent, but many analysts expect a revision to 3 and 3.5 per cent, or perhaps lower. Likewise the Federal Open Market Committee expects the unemployment problem to persist beyond 2012 with their economists now suggesting that much of the unemployment is structural in nature and will take years to correct (here).
“FOMC members have made particularly aggressive upward revisions to their unemployment forecasts, with a large number now predicting that it will still be 8 per cent or above at the end of 2012, compared to the 7.1 to 7.5 per cent that they forecast in June.
“Because I expect hiring to strengthen only gradually, the unemployment rate is likely to remain elevated for quite some time. In fact, I do not expect it to fall below 8 per cent before 2013,” Sandra Pianalto, president of the Cleveland Fed”

 They suggest inflation will remain anemic until at least 2013, anticipating that,

“It is not unreasonable to expect 1 per cent inflation in 2012. (here)
While the Fed continues to struggle to reinvigorate the economy, it is obvious that the billions in stimulus dollars spent by the Administration have failed to re-ignite the economy!
Tell ’em where you saw it. Http://www.victoriataft.com

Willamette & Columbia Rivers Frozen in Years Past

Man Drives Over Willamette Dec 1924

One of the refreshing things about this fall is that the local media have been more circumspect in blaming every weather phenomenon on “man made” global warming. For example this year I’ve been hearing that heavy rains expected this fall and winter are due to a La Nina. As far as I’m aware, man’s so far not being blamed for the ocean currents which are believed to cause this effect. I know I’m tempting fate by calling attention to it.

Roll Freeze on Columbia Jan 1949

But now comes the colder weather and with it the chance of La Nina precipitation turning into snow. In years past reporters have blamed these events on “man made” global warming. To disabuse any reporters out there who may want to blame extra cold weather on man made warming again this year, Jim Karlock has looked up a couple of pictures in past issues of the Oregonian to call attention to amazing weather in the Northwest in pre “man made” global warming years. Note the Willamette freezing solid in 1924 and much of the Columbia freezing in 1949–both occurred before SUV’s (or as Sam Adams refers to them: FUV’s). H/T JK.

Tell ’em where you saw it. Http://www.victoriataft.com

Pete the Banker: Treachery: Health Insurers, Big Pharma rush to save Obamacare??

 With the Republicans having a new found majority in the House of Representatives and the likelihood they will follow through with their campaign promise to repeal of the Health Reform Bill, guess who has emerged to fight a repeal?  It’s none other than the major Health Insurers and large Drug Companies, those “evil corporations” that Obama described as “deceptive and dishonest” last year and who he suggested wanted to kill Healthcare Reform here. But Health Insurers like United Health (the subject of prior posts) and Drug Companies like Merck were in the back room with Obama, Baucus, and Pelosi, scheming to mandate enrollment of 30 million uninsured to collecting additional premiums/drug sales in exchange for the Administration’s mandates to modify existing Health Insurance coverage.  Well one thing we can agree on with Obama is that the Health Insurers/Drug Companies were “dishonest and deceptive” as were all those present in that backroom away from the public view!

 

And isn’t it curious that the those “deceptive and dishonest” Health Insurers and Drug Companies are now lobbying to prevent the repeal of Obamacare?  “At the same time, some industry groups are worried that Republican plans to undo the centerpiece of the law, which President Barack Obama signed in March, could unravel other backroom deals they cut with the White House, forcing them to fight costly legislative battles all over again here.”   Of most concern to the insurers is that a repeal would result in “eliminating millions of potential customers” (emph added)

Meanwhile the Drug Companies fear the loss of deals negotiated with the Administration, resulting in their agreement to pay additional taxes and provide temporary drug discounts to the elderly in exchange for the Administration and Democrats arranging, “not to allow the Medicare program, which covers the elderly and disabled, to negotiate drug prices, as do most state Medicaid programs that cover the poor. Additionally, the Administration agreed to continue blocking the re-importation of drugs from Canada  (here).”   
So the Republicans and House Speaker Boehner, based upon priniciple, intend to push strongly for reform and repeal especially of the individual mandate, fighting the Administration’s and Democrat’s kleptocracy together with an army of lobbyists from Health Insurers like Cigna and Health United together with big Pharma.  
But, of course, the Democrats in passing Health Care have always suggested that they were simply looking after the best interests of the little guy and the electorate, certainly not Big Business?????!   Given that assurance, it seems rather curious that Big Business seems intent on looking out after the Democrats, the Administration and its rather unpopular spawn, Health Care Reform!!

Tell ’em where you saw it. Http://www.victoriataft.com

Pete the Banker: Fed Will Slash Economic Growth and Employment Increase Projections Tuesday

The US Federal Reserve is expected to slash its growth forecasts and predict higher unemployment when it releases updated economic projections on Tuesday, perhaps explaining its recent decision to launch it’s new $600 Billion program to purchase long term securities.
When the FOMC published its June economic growth forecast it estimated that 2011 growth would be between 3.5 and 4.2 per cent, but many analysts expect a revision to 3 and 3.5 per cent, or perhaps lower. Likewise the Federal Open Market Committee expects the unemployment problem to persist beyond 2012 with their economists now suggesting that much of the unemployment is structural in nature and will take years to correct (here).
“FOMC members have made particularly aggressive upward revisions to their unemployment forecasts, with a large number now predicting that it will still be 8 per cent or above at the end of 2012, compared to the 7.1 to 7.5 per cent that they forecast in June.
“Because I expect hiring to strengthen only gradually, the unemployment rate is likely to remain elevated for quite some time. In fact, I do not expect it to fall below 8 per cent before 2013,” Sandra Pianalto, president of the Cleveland Fed”

 They suggest inflation will remain anemic until at least 2013, anticipating that,

“It is not unreasonable to expect 1 per cent inflation in 2012. (here)
While the Fed continues to struggle to reinvigorate the economy, it is obvious that the billions in stimulus dollars spent by the Administration have failed to re-ignite the economy!
Tell ’em where you saw it. Http://www.victoriataft.com

Willamette & Columbia Rivers Frozen in Years Past

Man Drives Over Willamette Dec 1924

One of the refreshing things about this fall is that the local media have been more circumspect in blaming every weather phenomenon on “man made” global warming. For example this year I’ve been hearing that heavy rains expected this fall and winter are due to a La Nina. As far as I’m aware, man’s so far not being blamed for the ocean currents which are believed to cause this effect. I know I’m tempting fate by calling attention to it.

Roll Freeze on Columbia Jan 1949

But now comes the colder weather and with it the chance of La Nina precipitation turning into snow. In years past reporters have blamed these events on “man made” global warming. To disabuse any reporters out there who may want to blame extra cold weather on man made warming again this year, Jim Karlock has looked up a couple of pictures in past issues of the Oregonian to call attention to amazing weather in the Northwest in pre “man made” global warming years. Note the Willamette freezing solid in 1924 and much of the Columbia freezing in 1949–both occurred before SUV’s (or as Sam Adams refers to them: FUV’s). H/T JK.

Tell ’em where you saw it. Http://www.victoriataft.com