None here in Beloit - yet...

Obamavilles continue to sprout up in America

 Latest: A tent city in Camden, NJ 

by Clifford F. Thies 

MY9NJ.com is reporting on the latest tent city - or Obamaville - in the Garden State of New Jersey. A community of perhaps a hundred in Camden. The more or less permanent residents are mostly down-and-outers. Drug addicts and the mentally ill, along with the "new poor" of once self-supporting people who have lost their jobs, run out of unemployment insurance, and don't qualify for the government's support system mainly because they don't have minor children.

We probably miss out because of our Republican leadership in Madison.

Not seeing Chicago on that list surprises me. Mayor "Little Dick" Daley spent millions on iron fences to keep the homeless from camping out under viaducts in the city a few years back. I'm sure the situation hasn't improved under RahmItToEm...

The lowdown on the economy

and what Osama has done to help destroy it at Nobody Asked Me

Go read.

On the economy front

I keep telling people it's a depression - and CNBC seems to be agreeing:

Dow, S&P Log Worst Thanksgiving Week Since 1932

What planet do you live on, Harry?

Reid signals government jobs must take priority over private-sector jobs

By Pete Kasperowicz - 10/19/11 10:16 AM ET 

 

Senate Majority Leader Harry Reid (D-Nev.) on Wednesday indicated Congress needs to worry about government jobs more than private-sector jobs, and that this is why Senate Democrats are pushing a bill aimed at shoring up teachers and first-responders.

"It's very clear that private-sector jobs have been doing just fine; it's the public-sector jobs where we've lost huge numbers, and that's what this legislation is all about," Reid said on the Senate floor.
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Very clear to someone who is not a citizen of the USA, and does not know of the ongoing depression that the world's economy is sinking into - and has a vested interest in adding workers almost guaranteed to vote Demonrat.

I still say we are in a DEPRESSION

"Experts" disagree.
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No Recession for U.S. as Forecasts Improve

By Rich Miller and Vivien Lou Chen - Oct 10, 2011 5:34 AM CT 

The U.S. has likely dodged a recession for now, even though it’s too early to sound the all- clear for the economy.

A string of stronger-than-projected statistics -- capped by the news on Oct. 7 of a 103,000 rise in payrolls last month -- has prompted economists at Goldman Sachs Group Inc. and Macroeconomic Advisers LLC to raise their growth forecasts for third quarter growth to 2.5 percent from about 2 percent. That’s nearly double the second quarter’s 1.3 percent rate and would be the fastest growth in a year.

“The U.S. economy doesn’t look like it’s double-dipping at all,” said Allen Sinai, president of Decision Economics Inc. in New York. “But it is a crummy recovery.”
That recovery still faces what economist Chris Rupkey in New York calls “a lot of headwinds.” These range from the sovereign-debt crisis in the euro zone -- and increasing likelihood of a recession there -- to political gridlock in the U.S. over the budget.

“We can skirt a recession,” said Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. “But if headlines worsen in Europe and cause a major stock-market rout, it could lead to a loss of confidence here on the part of businesses and consumers and make forecasts for a recession a reality.”
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Isn't Goldman Sachs one of those "too big to fail" outfits that got billions of our money a while back? I would surely trust their opinions. Forecasts like this are just wishful thinking.

That 103,000 "new" jobs includes 47,000 striking union workers going back to work.

Europe is going to implode any day now. And America is inextricably tied into the global economy.

1933 might seem a fond memory of good times before we are done here.

Like I've been saying - it's a DEPRESSION!

The head of the Bank of England agrees with me:

World facing worst financial crisis in history, Bank of England Governor says

The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England said last night.

By James Kirkup

10:00PM BST 06 Oct 2011

Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee to put £75billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK recession.

Economists said the Bank’s decision to resume its quantitative easing [QE], or asset purchase programme, showed it was increasingly fearful for the economy, and predicted more such moves ahead.

Sir Mervyn said the Bank had been driven by growing signs of a global economic disaster.

“This is the most serious financial crisis we’ve seen, at least since the 1930s, if not ever. We’re having to deal with very unusual circumstances, but to act calmly to this and to do the right thing.”

Unemployment animation

Remember to multiply by at least two to correct for the federal gov't's bookkeeping antics...

Zero

No new jobs. First time since the Second World War. Osama's got his place in history, alright.

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Economy Gains No Jobs in August, Rate Holds at 9.1%

Published: Friday, 2 Sep 2011 | 11:12 AM ET

By: Jeff Cox
CNBC.com Senior Writer 

The US economy created no jobs and the unemployment rate held steadily higher at 9.1 percent in August, fueling concerns that the US is heading for another recession.

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9.1 %, not including all the people on welfare and unemployable in a good economy, and all those who have had UI run out and are "no longer in search of a job". Actual unemployment is probably closer to 30%.

Another recession? How about just heading deeper into the  DEPRESSION Bush and the preceding Demonrat CONgresses left us with?

I've got an interview next week - maintenance mechanic at a frozen-food warehouse, and got a call yesterday from an engineering staffing outfit - possible software work near Milwaukee, 120 mile commute every day. Better than starving on unemployment.

Really stupid headline

but some good points made:

Does America Need Manufacturing?

What I find interesting is this: 

Repatriating a high-tech manufacturing plant to the United States is not simply a matter of hiring the local talent. It requires good-old foreign know-how. “We call it ‘copy exact,’ ” Forcier said. “We bought a company in Korea that had the technology around this type of battery and had developed the manufacturing process there. We basically brought that here, copied it exactly and scaled it up.” A123 also brought a team of six Korean engineers to help transfer the technology to the U.S. and sent a team of Americans to Korea to learn. 

History repeating? I remember when the Soviet Union bought old American car body dies after WWII - and that's why most Soviet cars looked like 1950's American cars.

I also have concerns about where all those batteries are going to end up after the "electric car" turns out to be a boondoggle because no one can afford to charge one, after Osama finishes making good on his promise to make power costs "skyrocket".

Here we go again!

Those who refuse to learn history are doomed to repeat it...

Dow Repeats Great Depression Pattern

With Mr. Barack Hussein Osama playing Herbert Hoover...