Friday, April 29, 2011

Loose change seems to be all we've got........ any hope left?

After two years of Obama...Here's your change!

January 2009
TODAY
% chg
Source
Avg.. Retail price/gallon gas in U.S.
$1.83
$3.704
89.6%
1
Crude oil, European Brent (barrel)
$43..48
$105..02
167.7%
2
Crude oil, West TX Inter. (barrel)
$38..74
$107..38
178.9%
2
Gold: London (per troy oz.)
$853.25
$1,469.50
70.5%
2
Corn, No.2 yellow, Central IL
$3.56
$6.33
78.1%
2
Soybeans, No. 1 yellow, IL
$9.66
$13..75
42.3%
2
Sugar, cane, raw, world, lb. Fob
$13..37
$35..39
164.7%
2
Unemployment rate, non-farm, overall
7.6%
9.4%
23.7%
3
Unemployment rate, blacks
12.6%
15.8%
25.4%
3
Number of unemployed
11,616,000
14,485,000
24.7%
3
Number of fed. Employees, ex. Military (curr = 12/10 prelim)
2,779,000
2,840,000
2.2%
3
Real median household income (2008 v 2009)
$50,112
$49,777
-0.7%
4
Number of food stamp recipients (curr = 10/10)
31,983,716
43,200,878
35.1%
5
Number of unemployment benefit recipients (curr = 12/10)
7,526,598
9,193,838
22.2%
6
Number of long-term unemployed
2,600,000
6,400,000
146.2%
3
Poverty rate, individuals (2008 v 2009)
13.2%
14.3%
8.3%
4
People in poverty in U.S. (2008 v 2009)
39,800,000
43,600,000
9.5%
4
U.S.. Rank in Economic Freedom World Rankings
5
9
n/a
10
Present Situation Index (curr = 12/10)
29.9
23.5
-21.4%
11
Failed banks (curr = 2010 + 2011 to date)
140
164
17.1%
12
U.S.. Dollar versus Japanese yen exchange rate
89.76
82.03
-8.6%
2
U.S.. Money supply, M1, in billions (curr = 12/10 prelim)
1,575.1
1,865.7
18.4%
13
U.S.. Money supply, M2, in billions (curr = 12/10 prelim)
8,310.9
8,852.3
6.5%
13
National debt, in trillions
$10..627
$14..052
32.2%
14
Just take this last item:  In the last two years we have accumulated national debt at a rate more than 27 times as fast as during the rest of our entire nation's history..  Over 27 times as fast.  Metaphorically speaking, if you are driving in the right lane doing 65 MPH and a car rockets past you in the left lane. 27 times faster, it would be doing  7,555 MPH!
Sources:
(1) U.S. Energy Information Administration; (2) Wall Street Journal; (3) Bureau of Labor Statistics; (4) Census Bureau; (5) USDA; (6) U.S. Dept. Of Labor; (7) FHFA; (8) Standard & Poor's/Case-Shiller; (9) RealtyTrac; (10) Heritage Foundation and WSJ; (11) The Conference Board; (12) FDIC; (13) Federal Reserve; (14) U.S. Treasury

56 comments:

Ducky's here said...

What would you have done differently?

Do you have a rational program to prop up the dollar while restoring the banking system that Obama didn't tank?

The guy's a corporatist stiff but the right would blame him for not being able to light a candle underwater.

Z said...

read the numbers, DUCKY..
yes, we need a man who can light a candle underwater today because he's got us into such trouble.
What would I have done differently? let the country experience a little difficulty; take deep gulps and try to save our kids' futures, which is what most Americans want, and tighten belts and stop borrowing from China, stop slamming every corporation which hires Americans, speak as an optimistic and not some harbinger of gloom and doom, instigate a program by which the very rich can easily give more if they so wish on their IRS forms, get rid of Obama care, which is already threatening many hospitals here in LA as the upper classes are going from private to PPO insurance in anticipation in the truth that Obama either didn't understand business or actually was lying baldfacedly when he suggested from the start "You can keep your own insurance.."
I could go on.

The right should blame him; the left blames Bush STILL, you think people on either side've forgotten THAT ridiculousness?

Always On Watch said...

People whom I personally know believe in the Obama fair pictured here. The other evening, my cousin, usually a sensible person, stopped by to visit Mr. AOW and told me of her belief in the Obama fairy. She didn't use the term "Obama fairy," of course.

Like so many people, my cousin works long hours and knows only the news that she hears or reads briefly -- mainstream media.

Bd said...

What, you seriously think it should take just two years to clean up the mess Bush left us with? Get a clue. Every major economist credits Obama in preventing another major depression and all you can do is complain? The disingenuousness ofthe right is astounding

Z said...

AOW, they actually think any progress right now is sustainable through more debt, too. How can you teach them?

Joe said...

bd: "Every major economist credits Obama..."

That is a flat out lie (unless you mean by "major economist" the ones that support your viewpoint).

You sophomoric liberal/progressives sing a one note samba and are the most exceedingly narrow minded group of people in the universe...blame Bush.

All this, while accusing the right of being narrow minded.

What is that word for that kind of thinking again?

Z said...

of course you're right, Joe..and thanks. This is unsustainable and was probably the wrong way to go. Sure, we did some good in bailing out companies but the GE fiasco was a payback, ..etc etc...
What company was it that didn't take the bailout and flourished? Not FORD, I can't remember.
ANyway\, many economists say we'd have survived the Great Depression better and it would have lasted shorter had FDR not stepped in,too.
But, when you've got soup lines...people starving, you need to do that; of course, we all know that private charity would step in; the way it should be done.

Ducky's here said...

Read the numbers?

Post hoc ergo propter hoc?

Nice try, z. Now why doesn't the right admit that their only real idea is more supply side nonsense. More of what got us into the hole? Let's try it again? What's that definition of insanity?

Ducky's here said...

Joe, I don't blame Bush. He just administered the coup de grace.

Ducky's here said...

"With first-quarter results out at slightly more than half of the S&P 500-index companies, profits at America's biggest corporations are running 26% higher than a year ago, and are on track to post a quarterly record of $22.05 a share."

------------------

So if you're fully invested and didn't leave the market like a sucker a while back, you ain't complaining.

What? They're raking it in hand over fist virtually untaxed and they aren't hiring? How can Kapital do that to you?

Ducky's here said...

Economy cools as government spending drops. Wrong time for budget cuts?

The US economy posted an annual growth rate of only 1.8 percent in the first quarter of 2011, and declines in government spending were a significant contributor.

--------------------
Byline in a good article in today's Christian Science Monitor.

So spending drops just as you asked and , not surprisingly, growth drops with it. That should straighten out the unemployment numbers, right?

badwolf79 said...

Hmmm ... you must be making ripples in the duck's delusional waters, Z. He's certainly active today. Must be that Clinton theory - tell a lie often enough and people will start believing it!

My question is 'When will they start impeachment proceedings?'

~ Will

Brooke said...

Ducky's delusions are beyond incredible!

Z said...

Ducky, maybe if you read that whole article, you'd see differing and valid points of view. I know I had.


Will....friends and I've been talking; the lefty trolls are appearing out of nowhere suddenly so I'm figuring what happened at FrontPageMag is happening to all of us bloggers now; Right before each election, up would pop completely new screen names all saying things like "I used to be a Republican, but I just can't vote Republican anymore because.." (Same thing happens a lot on talk radio about a few months before national elections, wait for it) I hope it's costing someone a whole LOT MORE money now that there are so many Conservative blogs and people have to be paid to interrupt a lot more sites :-)
They can't shut the internet down yet so they'll try this, I guess.

Remember, if it weren't for the blogs and if we were reliant only on the msm, we'd not know half of the truth........it's amazing.

Always On Watch said...

Duck,
I see the logic fallacy you mentioned. Just covered that one in debate class this week.

Anyway, let's talk politics. Obama has been in office over two years. Ergo, this economy now belongs to him. Fact of political life -- and that fact applies to a President of any political party.

It's Obama's watch, and he is responsible. That's the job!

Always On Watch said...

Z,
Remember, if it weren't for the blogs and if we were reliant only on the msm, we'd not know half of the truth........it's amazing.

I had a word in mind other than "amazing." I won't befoul your blog with the ugly word(s).

Z said...

AOW, and the borrowing is HIS now. And he keeps it up and then says how he's concerned about America's childrens' futures?
The number is so unwieldy now NO economist thinks it's a good idea...

Ducky's here said...

AOW, it belongs to him and he has sure made life easy for Wall Street.

Geithner, Larry Summers ... you didn't know what the plan was here?

Just because it ain't working out for you (and it didn't under Republican administrations, either) doesn't mean it isn't completely on it's intended course.

Is EVERYONE suffering from $4 gas? Follow the money.

You can play the Coke vs. Pepsi game all you like but you are going to get reemed doing it. Your choice.

Ticker said...

Z you sure ruffled Duckbutts feathers today and looks as if he brought in another fellow "world traveler" or made up new name to troll your blog. Both have been drinking waaaay too much of the Obamakoolaide.

Yes Duck Butt you cut taxes and people will spend, corporations will spend. Raise them and watch them hang tight with the money. Uncertainty, as is the rule now keeps spending low.

I believe it was the last of the real Democrats, JFK who said, Lower taxes, cut spending and the economy will grow. "...the paradoxical truth that tax rates are too high and revenues too low; and the soundest way to raise revenue in the long term is to lower rates now.

Unfortunately socialist like DuckButt and Obama haven't learned the truth about economics.

Ticker said...

Four Dollar a gallon gas-- follow the money? Well guess where it goes? Soros, the Puppet Master behind Odummer of course. Wonder how he knew when to buy and then sell? Yep, I followed the money and have been for the past two years and it leads to Soros and other leftwing Obamabots.

http://apcheck.blogspot.com/2011/03/obama-strengthens-george-soros-oil.html

Always On Watch said...

Duck,
he has sure made life easy for Wall Street

Yes. No argument there.

So, Duck, let's hear your rational program to prop up the dollar. What's your solution?

Mustang said...

Laying the “economy” at the foot of any president simply demonstrates that most Americans are unfamiliar with how the budgetary process works. The President proposes a budget, but the House of Representatives allocates funds.

No one on the conservative side of the aisle argues with the fact that Mr. Bush and his henchmen from Goldman Sachs took their eye off the ball, but a few salient and conveniently overlooked facts are in order. President Clinton (with a D) started the housing disaster in 1993, before the GOP revolution in 1995. Still, Republicans did nothing about the Democratic proposal extending housing loans to people with an income of one dollar a week, and Republicans broke their contract with America.

Ergo, in 2006, the people tossed out Republicans and hired in their place the only alternative: the communist left. In four years, Democrats had spent us into oblivion, two years with Bush’s approval. We should wonder … if Bush was making such a disaster out of our economy, why didn’t the Democratic House and Senate do something about that? Could it be they wanted Bush (and America) to fail so that they could reap the benefits? If the economy was such a mess in 2008, why did Congress and the White House ignore it in 2009?

Surely, you cannot argue with a straight face that TARP and bailouts did much good. Our economy is a mess … but I don’t see Obama leading us out of the wilderness. I see Congressman Ryan making an attempt and Obama openly mocking him for his efforts. How’s that for mature diplomacy? Obama’s behavior is much like of Ducky: base and immature.

I do hear economists saying that we’ll still be struggling with this economic problem in 2016 because the American people and their politicians still haven’t figured it out: national wealth comes from production. We don’t produce anything in America; ours is a service sector economy. If we expect to fix the economy, then we must begin producing goods for domestic and export use. We cannot do that if labor increases the cost of those goods. We cannot do that if tax rates provide a harmful environment for commerce. But don’t hold your breath waiting for the communist left to figure it out. They are incapable … but then, so too are the so-called compassionate republicans.

Always On Watch said...

BTW, I'm not concerned about $4 gasoline. But what will happen to the cost of heating residences and businesses this coming winter?

Always On Watch said...

Mustang,
A point of clarification: I'm not saying that Obama is totally responsible. Budgets have to approved by Congress.

But I am saying that whoever is sitting in the Oval Office usually gets the blame (or credit) at the ballot box. Despite our Constitution, people tend to look for one person to blame.

Voters should, of course, look to themselves and blame themselves for electing such slimy politicians.

Z said...

Mustang, thanks for the excellent comment...I do know Bush warned about the housing problem for about the last five years of his admin but nobody did anything about it.

AOW..good question. Our people will be at the government's feet...just exactly what the dems want. Why else would anybody vote for them?

Z said...

I don't think any president should be overly optimistic and stupid about the terrible shape we're in, and I suppose we're past this point thanks to Obama's borrowing and the enormous percentage of debt he's put us in since Bush, but there IS something to calming people down, encouraging them, etc.

People are scared and are thinking 100 times before hiring. On the other hand, I can't find one painter for my house who's got time to work right now ... I guess people are fixing instead of moving? Electricians, painters...good LUCK finding one who even calls you back!... Which is good, I guess.

Always On Watch said...

Z,
Possibly of interest

Sam Huntington said...

It is not the purpose of Obama policy to strengthen the US economy, nor correct deficiencies, or to put Americans back to work. If he intended to do any of these things, why has he consistently heeded Rahm Emanuel’s advice, to let no crisis go to waste? If Obama intended to put Americans back to work, why did he expel 10,000 workers from oilrigs in the Gulf of Mexico? If Obama intended to divorce America from its dependence on foreign oil, why did he give $2 billion to Brazil so that they could expand their offshore drilling efforts?

Obama never intended to do any of these things. Otherwise, he would curtail his lies about how the petroleum industry is the villain. Sure, the gasoline pump with Exxon’s name on it is what the American people see —and yes, Obama dearly hopes that the American people aren’t smart enough to realize bull taco when we see it. Yes, it is true that Exxon gross profits were around $40 billion last year, after paying $57 billion to the federal government in taxes. It is also true that Exxon employs 82,000 people, worldwide. Including all other petroleum producers, 107,000 people work in 152 refineries located in 32 states, and nearly 1 million Americans are employed by over 125,000 service stations across the nation, most of which are independently owned and operated.

None of these things concern Barack Obama. Have we forgotten that Obama told us what he intended to do once elected to the presidency —to change the United States of America in a fundamental way? That is Obama’s mission, and lest we forget —he intends to achieve his goal.

To all of those people out there who are elated about “social justice,” remember that in order to achieve it, you must first give up your individual liberty to the collective good. No matter how you pretend otherwise —this is purely and simply communism. To people who are positively giddy about the prospect of socialism, recall that it takes a 60% tax rate to maintain socialist structures and they might look at how European countries are now in the process of divesting themselves of socialism.

Has the light bulb come on yet?

Ducky's here said...

Tocker --- if there were a tax cut that stimulated demand in the middle of a commodity bubble what would that do to prices?

Of course you assume that the government doesn't spend, only individuals. Interesting theory.

Now lets' continue, since you know "the truth" about economics ( wow, put a propositional calculus on that statement):

Does universal health care generate a more or less Pareto efficient economy?


Let me know, since you're the man and understand advanced concepts like supply and demand.

Ducky's here said...

Yes AOW heating oil is a potential concern. Please note that he proposed cutting any assistance.

As I say, I hate myself when 'm perverse enough to want people to get what they ask for. It's they only way they will learn the necessary lessons.

Elmers Brother said...

The gubmint doesn't "make" money. It doesn't produce anything that it didn't get through confiscation.

Elmers Brother said...

And every dime it "spends" was taken from someone else.

Elmers Brother said...

And that's not even acconting for tje fact that it "spends" innefficiently. Can anyone say 200-300 billion $ in duplicative programs?

Always On Watch said...

Duck,
Have you answered my question?

So, Duck, let's hear your rational program to prop up the dollar. What's your solution?

Pris said...

"As I say, I hate myself when 'm perverse enough to want people to get what they ask for. It's they only way they will learn the necessary lessons."

You know Ducky, the only way you can learn your lesson is to get what you ask for. But, what you want is to take down this country, and us with you.

You may be perverse enough, but, I'm not.

Ducky's here said...

A way to prop up the dollar without generating high inflation? Wish I knew, and if I could do it in this scenario it would probably mean Nobel prize.

Often that's your choice, inflation or devalue.

Z said...

Ducky, you said "As I say, I hate myself when 'm perverse enough to want people to get what they ask for. It's they only way they will learn the necessary lessons."

How do you think WE feel? We're all going to suffer because a liberal president has bad advisers and is taking us into debt from which we'll never recover and WE are going to have to suffer the consequences, not just the party which turned this into a nightmare.


Elbro, so true about the gov't ....I remember the government was counting Census workers to show the unemployment rate was down! AND the gov't was paying them!
And then there was that potential gov't shut down and they said "800,000 NONESSENTIALS might be out of work!"

NONESSENTIALS? FIRE THEM!

Z said...

AOW ..this quote from your link caught my attention

"These sound like cold calculations, and Mr. Obama was anything but warm in his response to a windmill factory employee concerned that his large family was hit hard by the cost of gas. “You may have a big family, but it’s probably not that big,” Mr. Obama said. After the man informed the president he had 10 children, Mr. Obama’s giggling, condescending response was, “Well, you definitely need a hybrid van then.”

A man who's hit hard with 10 children and he gigglees and says he needs an (expensive) hybrid? What are these people THINKING?

My mind goes to Joe the Plumber.....sigh

Major said...

Mustang.....You're amazing.

Great Comment!

Thank You.

Z said...

Hi, Major! How're you doing tonight?
Yes, that was SOME comment, wasn't it?
I'm blessed with great commenters......I'm so glad you're here.

Major said...

"I'm blessed with great commenters......I'm so glad you're here."

Nope Ms. Z... we're the ones that are blessed due to you and your wonderful work and spirit. As well as your commitment to this blog along with your graciousness, patience and warmth.

I'm flattered that I'm welcomed each day. Even after a bad one.

Major said...

Sam....

"If Obama intended to divorce America from its dependence on foreign oil...."


What's that saying Sam????

Oh...here's Obummer in a nutshell....

"It's ( he ) a mystery wrapped in a riddle inside an enigma."

Winston Churchill about Russia...and ironically today...about the Red in Chief.

Bloviating Zeppelin said...

Ducky: STFU. That "quantatative easing" is ALREADY working so damned well, is it not?

Are you truly as DAFT as you write?

You see Obaka taking ANY really massive and shocking stands??

Eh -- no. So let's just keep printing that money, eh wot, Bucky? No consequences, no worries mate.

Jesu Christi, I have hemorrhoids more mature and with more seniority than you.

BZ

beamish said...

What would you have done differently?

Do you have a rational program to prop up the dollar while restoring the banking system that Obama didn't tank?


Yes. Three easy steps:

1. Shut down the Federal Reserve printing presses.

2. Continue to annually collect tax revenues for Social Security, Medicare, the Department of Education, NASA, the EPA, and other wasteful, useless government programs, and...

3.) Instead of allocating that money to those wasteful, useless government programs, collect the cash into one big pile and burn it, taking it out of circulation and tightening the money supply

The guy's a corporatist stiff but the right would blame him for not being able to light a candle underwater.

Actually the right blames him for the water.

Bd said...

Repeal the Bush tax cuts for the wealthy. The budget will be balanced in 5 years.

Take care of the middle class and the economy will grow and prosper.

Mustang said...

LOL

beamish said...

BD,

Can you show your work?

How will returning to Clinton era tax rates balance a budget with exponential spending increases?

Ducky's here said...

3.) Instead of allocating that money to those wasteful, useless government programs, collect the cash into one big pile and burn it, taking it out of circulation and tightening the money supply
=======================

Simply raising interest rates doesn't do it for you, pyro?

Folks better get ready for an economic slowdown on the good ship Beamish.

Ducky's here said...
This comment has been removed by the author.
Ducky's here said...
This comment has been removed by a blog administrator.
Z said...

"take care of the middle class"

No, HIRE the middle class....let them take care of themselves...they'll have pride through self-reliance, they'll help others, they'll survive without the gov't.

Z said...

Ducky, go blather elsewhere.
Frankly, I'm sick of it.

Call it censorship, you seem to like that. thanks.

beamish said...

Simply raising interest rates doesn't do it for you, pyro?

Nope. Government spending needs to be cut and the money supply needs to be tightened. Raising interest rates will not add value to the dollar like taking $2.25 Trillion out of circulation with a huge bonfire every year.

The effect on the economy would be immediate. The purchasing value of the dollar in your pocket would jump some 250% overnight as the bonfire raged.

Imagine that $4 a gallon gas suddenly becoming $1.60 a gallon.

Folks better get ready for an economic slowdown on the good ship Beamish.

Yeah. That minimum wager making $7.25 an hour suddenly has the purchasing power of someone making $18.13 an hour as prices decline because the dollar is mega-strong.

Who would need the welfare and social programs eliminated by the great purge of worthless dollars?

BURN THE MONEY!

Always On Watch said...

Z,
You cited this: A man who's hit hard with 10 children and [Obama] gigglees and says he needs an (expensive) hybrid?

Obama has zero empathy for anyone. That lack of empathy goes beyond his elitist attitude.

Even the WaPo's liberal Richard Cohen has mentioned that lack of empathy as one of Obama's primary flaws.

Always On Watch said...

Z,
HERE is a link to go along with my above comment.

Ticker said...

DuckASS stay with the topic. JFK knew what he was talking about. Too bad idiots like you don't have a clue.
We all know about Universal Health Care Duckass. It breaks governments.