WkEnd Hit Li$t Link$-Follow the Money and ??? to Ponder
Saturday Nov 7th, 2009~A deep sadness and concerned questions flows across America as the Ft Hood shooting story continues to develop. Our heartfelt prayers go out to each and all touched by the tragedy, and blessings are sent for the heroes (Civilian and Military) who stepped up to risk life and limb in their support for others as they went far and above the call of duty.
<GOD BLESS ONE and ALL>
~The media is all over this story, its suggested to use your favorite source to follow for rage or facts, as it continues to unwind
=>The US unemployment rate jumped to 10.2% for Oct as reported yesterday (shadow stats are much higher) which became the most reported since 1983. Payrolls fell by 190,000 (more then expected), with factory payrolls reported to be the largest drop in four months, and the average work week stayed at a record low. Where’s the jobs in this recovery, and what does that report do for CONFIDENCE going forward??? A reported Quote from Joseph Brusuelas a director at Moody’s Economy.com>”This will have a chilling effect on consumer confidence and business confidence, It does look like unemployment will creep much higher.” *Ya THINK LOL, we have ole man winter regular layoffs for construction and etc. to come here~
Have you ever wondered why the CPI, GDP and employment numbers run counter to your personal and business experiences? The problem lies in biased and often-manipulated government reporting.
November 6th, 2009
=>The finance ministers meeting of the G20 has begun in Scotland with diverse opinions/debates, and many a quote already out. The IMF has stated concerns about government finances, said government debt in the developed G20 countries is likely to reach 118% of annual national income in 2014, and it will take years of spending cuts and higher taxes to get debts down to what the IMF calls safe levels. <There’s a goody to look forward too! On Friday its reported Mr. Darling said, he could not yet be confident the global recovery had “sufficient momentum to be sustained and durable”. “I would hope that a little bit more can be done, to actually cast in stone the fact that we want to stop excesses, stop abuses, and bonuses that are strictly risk incentives”, said Christine Lagarde, France’s finance minister. On the climate change, several countries seem to be waiting for the US position to become clear. But>>> The USA Healthcare Issue a domestic priority of the Obama Administration and Democrats, along with the many versions of climate bills making their way slowly through Congress… Treasury Secretary Timothy Geithner has not been in a rush to make promises about what the Obama administration can get done! <Can we say once again too much too fast to be digested???>Many have voiced concerns about the weakness of the US dollar, strength of the euro and yen, although G20 ministers did not specifically discuss currencies<YET>
==>HEALTH CARE BILL could get vote today! One part of this huge puzzle (stacks and stacks of paper most have not read) creating a huge debate is the Abortion issue. It is being reported this morning that the Democrats are agreeing to a demand by 40 lawmakers to allow a vote on restricting funds for abortion, setting the stage for debate to steam press forward a vote. Per BL, Democratic leaders today will let the lawmakers offer an amendment that would impose tougher limits on the use of federal money to finance abortions for people>>>obtaining insurance on federally subsidized online exchanges (should working taxpayers fund ANY of this individual choice???) . That amendment faces opposition from Democrats who support abortion rights. The agreement came after a day of negotiations among House leaders including Speaker Nancy Pelosi to try to break an impasse to a vote on the biggest revamp of the nation’s medical- care system in more than four decades. NEXT HERE is the Press Release available from the Republican Ways and Means Committee website on the YOU COULD GO TO JAIL>>>Today, Ranking Member of the House Ways and Means Committee Dave Camp (R-MI) released a letter from the non-partisan Joint Committee on Taxation (JCT) confirming that the failure to comply with the individual mandate to buy health insurance contained in the Pelosi health care bill (H.R. 3962, as amended) could land people in jail. The JCT letter makes clear that Americans who do not maintain “acceptable health insurance coverage” and who choose not to pay the bill’s new individual mandate tax (generally 2.5% of income), are subject to numerous civil and criminal penalties, including criminal fines of up to $250,000 and imprisonment of up to five years. In response to the JCT letter, Camp said: “This is the ultimate example of the Democrats’ command-and-control style of governing – buy what we tell you or go to jail. It is outrageous and it should be stopped immediately.<OK, think all better consider their FREEDOM CHALLENGE here, don’t ya think???>Consider this for another gulper: According to the the lowest cost family non-group plan under the Speaker’s bill would cost $15,000 in 2016. Called your CONGRESSMAN YET??? Use link to site
Now, To Follow the Money some, there is an interesting piece @livemint.com titled Global equity fund flows fall on economic worries, posted Nov 6, 2009 Highlights:
- Outflows from equity funds totalled $5.42 billion during the week and outflows from all emerging market equity funds were at an 11-week high
- Fixed-income funds drew net inflows of $3.63 billion - their worst showing since early July
- Global bond funds drew fresh money for a 30th week/US bond funds remained attractive/Outflows from money market funds rebounded to $27.3 billion
- Global emerging market equity funds surrendered $539 million (much concern over Western European banks w subsidiaries who financed East European and Baltic economies)
- East European equity funds saw outflows for the first time in 16 weeks/redemptions from Russian equity funds hit a year-to-date high
- US equity funds posted outflows for the fifth time in six weeks/US small cap funds hit hardest/US growth funds outperformed value funds
- BRIC - Brazil, Russia, India, China equity funds overall drew inflows for an eighth week but Brazil funds saw outflows for the first time in eight weeks
- Japan w weak domestic demand and renewed deflation posed questions for Japan’s economic recovery and Japan equity funds saw outflows for a seventh week
- ***Financial sector funds saw $798 million in outflows, the biggest outflow since the fourth week of March, concern about further recapitalization of UK banks and bad results from Europe, and the bankruptcy of US lender CIT, and a rate rise in Australia, discouraged investors
- ***Commodity funds contd to attract money for a ninth straight week, as ALL noted India’s $6.7 billion gold purchase to hedge its foreign reserves
- Technology funds and consumer goods funds posted outflows of $226 million and $216 million
A List of many favorite links which are often used for consideration with comments or breaking stories:
Most often used as handy dandy one stop shopping are first 2 links, and the balance has not been organized as of yet>
1.
2.
(great for index searching)
(always interesting with a full week of posts for braindrain)
(today story link) > (UK Prime Minister Gordon Brown has called for a new “social contract” with the world’s banks to make them more responsible to society)
and
and
Longtime ET Democratic Rep Chuck Hopson Goes Republican
By ADAM RUSSELL
Staff Writer
District 11 State Rep. Chuck Hopson said the Democratic Party in Washington no longer aligns with his own personal values and as a result he will officially join the Republican Party next week.>>>>”Obama and the Democratic Congress in Washington are really out of step with East Texas and I get constant reminders that the Democratic Party is doing this and the Democratic Party is doing that. It doesn’t reflect on our party in Texas but my constituents think it does,” Hopson said. ”
More and more I hope to see Representatives listening to what their Constituients have to say..the majority of Americans would rather have what we have now then the expensive boondoggle being touted by Pelosi and some Democrats..It is expensive and doesn’t address any cost issues..What it does do is give Government control of the Insurance industry..and IMO spells the end of Private Insurance Companies. I really don’t believe Pelosi will pull off having it come to a vote today. BTW I have tried to call my Congressman four times today…It rings until it gives me a busy signal..Go figure..
11:25 pm EST, Saturday November 7, 2009>>Business Roundtable Statement on House Vote on Health Care Bill >“We are disappointed by the passage of a House bill that we cannot support. The House legislation contains many provisions that will threaten the coverage that 177 million Americans currently have through the employer-based system. Not only does it establish a government-run health plan, but it includes a “play or pay” mandate for employers that would limit the flexibility employers have to develop innovative plans for our employees. Business Roundtable is an association of chief executive officers of leading U.S. companies with nearly $6 trillion in annual revenues and more than 12 million employees. Member companies comprise nearly a third of the total value of the U.S. stock markets and pay more than 60 percent of all corporate income taxes paid to the federal government. Annually, they return more than $167 billion in dividends to shareholders and the economy.
Business Roundtable companies provide health care coverage to more than 35 million employees, retirees, and their families.
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