271 Hard Back Business books sent to Stupid Obama! He read NONE of them!
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25 signs that the financial world is about to hit the big red panic button #1 Merrill Lynch: the US economy has an 80% chance of going into another recession. #2 Will Bank of America be the next Lehman Brothers? Shares have fallen more than 40%. Even though Warren Buffet $5 billion, the reality is that the problems for Bank of America are far from over. An analyst is projecting that Bank of America is going to need to raise 40 or 50 billion dollars in new capital. #3 European bank stocks have gotten absolutely hammered in recent weeks. #4 So far, major international banks have announced layoffs of more than 60,000 workers, and more expected! UBS has announced 3,500 layoffs, Citigroup is quietly cutting dozens of traders. Bank of America could cut as many as 10,000 jobs, 3.5%. ABN Amro, Barclays, Bank of New York Mellon, Credit Suisse, Goldman Sachs, HSBC, Lloyds, State Street and Wells Fargo have all announced plans to cut jobs tens of thousands all told. #5 Credit markets are really drying up. 2008? Many expect we are getting very close to a repeat of that. #6 US Confidence Index fell to 44.5 in August. The lowest reading that we have seen since the last recession! #7 The University of Michigan Consumer Sentiment Index has fallen to the lowest it has been in 30 years. #8 The Philadelphia Fed's latest survey of regional manufacturing activity was absolutely nightmarish.... The surveys broadest measure of manufacturing conditions, the diffusion index of current activity, decreased from a slightly positive reading of 3.2 in July to -30.7 in August. The index is now at its lowest level since March 2009 #9 According to Bloomberg, since World War II almost every time that the year over year change in real GDP has fallen below 2% the U.S. economy has fallen into a recession (1948). #10 A monthly European Commission survey showed economic sentiment in the 17 countries using the euro fell to 98.3 in August from a revised 103 in July with optimism declining in all sectors. #11 The yield on 2 year Greek bonds is now an astronomical 42.47%. #12 The European Central Bank is buying up huge amounts of sovereign debt from troubled nations such as Greece, Portugal, Spain and Italy. As a result, the ECB is also massively overleveraged at this point. #13 Most Europe Banks are leveraged to the hilt and have tremendous exposure to European sovereign debt. #14 The Greek bailout package is faltering. Finland got Euro 500 million in cash security. Now Finland, Austria, the Netherlands and Slovakia also are now demanding collateral. Germany now wants similar collateral. #15 German Chancellor Angela Merkel is trying to hold the Greek bailout deal together, but a wave of anti-bailout "hysteria" is sweeping Germany, and now according to Ambrose Evans-Pritchard it looks like Merkel may not have enough votes to approve the latest bailout package.... #16 Polish finance minister is warning: if the EU does not choose the path of much deeper economic integration the euro zone simply is not going to survive much longer.... #17 German voters are against "Eurobonds" by about a 5 to 1, so economic integration does not look promising. #18 In Greece, government debt is almost 160% of GDP=15%cost will amount to 24% of GDP. #19 The global banking system has $2trillion of Greek, Irish, Portuguese, Spanish and Italian debt. #20 The head of the IMF warned that European banks are in need of "urgent recapitalization". #21 It is only a matter of time until Europe has a true crisis, which will happen faster Think Lehman on steroids. #22 The U.S. housing market is a mess, home prices fell 5.9% in the Q2, & sales dropped 3.5% during July. #23 The decline in U.S. economic data over the past three months has been absolutely unprecedented. #24 Morgan Stanley says US & Europe are close to a recession & we may enter one in the next 6 to 12 months #25 Minneapolis Fed President says that he may drop his opposition to more monetary easing.
Southland California Area among biggest increases in poverty 2Nov2011 BY THE NUMBERS: #5 In Usa=Increase in Poverty 2007-2010 #17 Rank=2010 POVERTY RATE (100 metro areas) 12.6%+ Inland poor people living in high-poverty areas
SOURCE: METROPOLITAN POLICY PROGRAM ANALYSIS OF U.S. CENSUS ESTIMATES
The report by Brookings Institution, is the latest to tally the disproportionate toll the economic downturn has had on the Inland area (So. California). The poverty rate in Riverside and San Bernardino counties rose from 11.8% in 2007 to 17.1% in 2010. The Inland area now has the nations 17th worst poverty rate, tied with the Miami and Youngstown, Ohio, the report found. Incomes in the Inland area fell more than 11% from 2007 to 2010. Patricia Nickols, who runs a food bank and provides housing, emergency assistance and other services, say: Many people who were struggling before the recession hit were pushed into poverty. Others who were living comfortably lost their jobs. Weve seen people in the last 2 years who never needed assistance before. The report found that Inland residents not only were more likely to be poor in 2010, they were also more likely to live among large numbers of other low-income people. The region had the 7th largest rise in the percentage of poor people estimated to live in extreme-poverty census tracts, in which more than 40 percent of residents are in poverty. In 2005-09, only 3.8% Inland residents lived in extreme-poverty. In 2010, 12+% estimated to live in extreme-poverty. The areas tend to have low quality schools, higher crime, poorer health, limited job opportunities & more gangs. All those factors work together to make it more difficult for people to climb out of poverty.
California=Worst state for business (magazine survey)
By Tiffany Hsu May 2, 2012, So much for the idea of West is best. In an annual survey, executives ranked California as the worst place to do business for the eighth year in a row. Chief Executive magazine has only been conducting its survey for eight years. Texas has been top-ranked every year. The survey considered responses from 650 business leaders, who graded states on factors such as taxes, regulations, living environment and more. Texas and second-ranked Florida have the highest migration rates in the nation for 2001 through 2009. California has lost 1.5 million people over the same period. Also in the top 10: North Carolina, Tennessee, Indiana, Virginia, South Carolina, Georgia and Utah. California narrowly edged out New York in what the survey called "the ninth circle of business hell," sharing the bottom five spots with Illinois, Massachusetts and Michigan. Once one of the strongest economic performers in the country, the Golden State has lost some of its gleam, by some measures, though it remains by far the strongest magnet for venture capital investment. Its 10.9% unemployment rate is only lower than Nevada's and Rhode Islands. A third of U.S. welfare recipients live in California, the report noted. High state taxes and bundles of red tape make operating a business in the state unaffordable to many companies, critics say. Last year, 254 California companies moved some or all of their work and jobs elsewhere -- 26% more than 2010. Most chief executives in Silicon Valley said they won't expand in the state, according to the survey. Other studies, including one from the Tax Foundation think tank earlier this year, concur that California has a bad business reputation. However, some economists, along with former Gov. Gray Davis this week, beg to differ. But the states saving grace, according to most? The weather.
Inland Empire poor for business, survey says. A company says its survey of small business owners shows the Inland Empire and desert regions are the second-worst regions in California for businesses. Thumbtack.com, a website that advertises local small businesses, says it partnered with the Kauffman Foundation to survey 6,000 business owners nationwide. The survey ranked the San Francisco Bay Area and Central Coast as the best areas for business, with the Inland Empire and desert region and the Central Valley bringing up the rear. It was based on business owners responses to survey questions gauging their perceptions of state and local government policies. Women who owned businesses were 37 percent more likely than men to perceive their government as being supportive, the survey said. People who were unaware of business assistance programs were also more likely to perceive their area as bad for business. Respondents politics, too, played a role. Conservative business owners in California were 30 percent less likely to perceive the state as being supportive of business.
US poverty to jump highest since 1960s
Posted: 22 Jul 2012 Poverty is spreading at record levels across many groups in the United States, from underemployed workers and suburban families to the poorest poor.
Poverty in the United States is projected to climb to the highest level in nearly half a century as the recession threw millions of people out of work last year.
According to a survey conducted by The Associated Press, US poverty could reach a 46-year high, with suburban families, underemployed workers, and children among the hardest-hit people, the news agency reported on Sunday. The census was based on expert opinions from more than a dozen economists and academics in the US. The figures are expected to be made public just weeks ahead of the November presidential elections. The data also showed that the official poverty rate could have reached 15.7 percent in 2011, which reflects a whopping increase of six percent compared to the previous year. Im reluctant to say that weve gone back to where we were in the 1960s, said Peter Edelman, director of the Georgetown Center on Poverty, Inequality, and Public Policy. The programs we enacted make a big difference. The problem is that the tidal wave of low-wage jobs is dragging us down and the wage problem is not going to go away anytime soon, he added. The estimates, offered by the experts, contributing to the census, suggested some 47 million people in the US, equal to 1 in 6, were poor last year. The highest level on record was 22.4 percent in 1959 when the government began calculating poverty figures. The survey also suggested that the number of Americans who relied on food stamp had also grown considerably.
12% of Riverside County and 17% of San Bernardino County residents used food stamps in January 2012, according to a Press-Enterprise analysis of social services and census data. That same month, food-stamp clients accounted for 11 percent of those living in Los Angeles County, 8 percent of San Diego County residents and 7 percent of Orange County residents, the analysis shows.
So hold on to your seat belts it is going to be a bumpy ride.
The following are 14 signs from around the globe that the world economy is getting weaker
#1 Things in China do not look good right now. The Shanghai Composite index fell to its lowest point in over 3 years earlier this week. Will the S&P 500 soon follow suit?
#2 The Bank of Japan has resorted to yet another round of money printing in a desperate attempt to try to bolster the faltering Japanese economy
.In Asia, the Bank of Japan has long been manufacturing money out of thin air. It has just announced an eighth round of money printing to prop up the ailing Japanese economy. The Bank of Japan is to purchase 10 trillion yen of bonds to add further liquidity into the financial system. Now it has 80 trillion yen of bonds in its portfolio, equivalent to 20 per cent of Japans gross domestic product.
#3 In Spain, violent demonstrations over the state of the Spanish economy just outside the national Parliament building in Madrid on Tuesday evening made headlines all over the globe. You can view video of police brutally beating young Spanish protesters during those demonstrations right here.
#4 As unemployment hovers around the 25%, foraging through garbage bins for food has become so rampant in Spain that one city has actually started putting locks on supermarket garbage bins as a public health precaution.
#5 Despite all of the money printing that the ECB, the yield on 10 year Spanish bonds has risen back up to 6%.
#6 The economic protests in Greece are getting completely and totally out of control. Just check out this descriptionof the Day of Rage that took place in Greece earlier this week
.Police fired stun grenades and tear gas at protesters yesterday as tens of thousands poured into the streets of Athens as part of a nationwide strike to challenge a new round of austerity measures that are expected to cut wages, pensions and healthcare once again. Dozens of youths, some masking their faces with helmets and T-shirts, hurled Molotov cocktails and rocks at police who fired back in an effort to scatter the angry crowds around the parliament building. More than 50,000 people are believed to have participated in the mass walk-out in Athens alone.
#7 The unemployment rate in France has risen for 16 months in a row and is now the highest in over a decade.
#8 As I wrote about recently, the number of unemployed workers in Italy has increased by 37%.
#9 New orders for durable goods in the United States fell by a whopping 13.2 percent in August. That was the largest decline that we have seen since the middle of the last recession (January 2009).
#10 According to the Bureau of Economic Analysis, U.S. GDP only grew at a 1.3 percent annual rate during the second quarter of 2012 as opposed to the 1.7 percent annual rate previously reported.
#11 The U.S. Postal Service is about to experience its second financial default in just the past two months
The U.S. Postal Service will default this week on a $5.6 billion congressionally mandated obligation to pre-fund retiree health benefits, marking the second time in two months the cash-strapped agency has done this.
#12 It looks like General Motors is on a path that will lead to bankruptcy (again).
#13 According to State Street Global Advisors, 71 percent of investors in a survey of 300 around the world, including the largest pension funds, asset managers and private banks, fear an imminent Lehman-like event.
#14 According to a recent survey of American CEOs by Business Roundtable, the number of CEOs that plan to eliminate jobs has risen significantly from earlier this year
The CEOs decline in confidence comes alongside a worsening employment outlook. Thirty-four percent of the 138 CEOs surveyed said in this quarters survey that they expected their companies to cut jobs in the next six months, compared to just 20 percent in the second quarter. Likewise, only 29 percent say they expect employment to grow in the next half year, down from 36 percent last quarter.
But the mainstream media in the United States would like us to believe that everything is getting better.
45% of USA thinks this??? +/-8%
48 million Americans are on food stamps 1/6 of our population is in poverty one sixth of our population is living paycheck to paycheck that means 1/3 of USA is struggling financially. soon with this president he will change America low income areas to look like Africa and the ghetto. as they say you can take the man out of the ghetto but you can't take the ghetto out of the man!
Angeles gun range today anyone?
this is the gun range in Los Angeles County California where you can shoot up to seven hundred yards away or shoot metal targets with pistols you can also post your own targets at the pistol range or at the long gun range also skeet shooting is available and the fees are minimal $15 for the whole day for pistol or rifle and skeet
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