Tag Archives: Unemployment

RACING IN THE STREETS: Catastrophic Spending: Change You Can Believe In.

Stumping on behalf of Barack Obama during the 2008 Presidential contest, rocker Bruce Springsteen’s oft-heard plea to voters just before belting out his campaign anthem “The Rising” was, “I want my country back”. Well, we don’t know if the Boss got his country back or not, that’s up to him. But, what we do now know as this “Reign of Change” barrels on down the highway towards the 2012 election is this,”The Rising” was eerily prophetic… Which, might help explain why so many fans of “The Boss” used their “Cash For Clunkers” refund as down payments on one of these street racers…

EDITOR NOTE: The following article mentions the Tea Party and other Patriot groups organizing on the grass roots level for the upcoming 2012 election cycle. As a single-issue voter for life in defense of unborn children, I’ve been troubled recently by reported actions of Tea Party members preventing the pro-life message at Tea Party rallies. This site does not support nor advocate on behalf of any political party or candidate unwilling to defend the right to life… 

Catastrophic Spending: Change You Can Believe In.

Vic Biorseth, Thursday, April 28, 2011
http://www.Thinking-Catholic-Strategic-Center.com

We have contended in the past that much if not most of the economic problems America and the world are encountering may be purposely caused, by plan, involving multiple fraudulent, manufactured crises, and we have laid out our evidences. However, the economic situation is now beginning to get so precipitous that we might better focus on pure numbers, and leave motivations out of it altogether.

Let’s just look at what has happened, since January 2009 until today:

Item: January 2009 Today % Chg
Avg Retail Gasoline / gallon $1.83 $3.44 84%
Gold / troy oz $853.25 $1,369.50 60.5%
Corn, Yellow $3.56 $6.33 78.1%
Soybeans, No 1 $9.66 $13.75 42.3%
Sugar cane, raw $13.37 $35.39 164.7%
Unemployment, non-farm, overall 7.6% 9.4% 23.7%
Unemployment, blacks 12.6% 15.8% 15.8%
Number of Unemployed 11,616,000 14,485,000 24.7%
Federal Employees 2,779.000 2,840,000 2.2%
Median Household Income $50,112 49.777 -0.7%
Food stamp recipients 31,938,716 43,200,878 35.1%
Unemployment recipients 7,526,598 9,193.838 22.2%
Long-term unemployed 2,600,000 6,400,000 146.2%
Americans in poverty 39,800,000 43,600,000 9.5%
Failed banks 140 164 17.1%
US Dollar supply (M1) in billions 1,575.1 1,865.7 18.4%
Us Dollar supply (M2) in billions 8,310.9 8,852.3 6.5%
National debt in trillions $10.627 $14.052 32.2%

___________________________________________________

When you put everything aside other than the raw numbers, you see that something absolutely must be done. Just considering debt alone, we have accumulated debt since January 2009 at a rate 27 times faster than our entire national history. Look less at the actual debt, which is bad enough on its own, but concentrate for a moment on the rate at which it is accelerating. If you were cruising along at 65 mpg and you were passed by a car going 27 times faster, that car would be doing about 7,555 mph.

To say this cannot be sustained is a radical understatement of the case. Of all the serious crises we face of various type – borders, unemployment, social, political, international, military, geo-political – this economic crisis is the one that is most likely to do us in as a nation.

The spending has got to be stopped.


At the grass-roots level, Tea Party and Patriot Group activities continue in recruiting volunteer citizen lobbyists in the local area. They are looking for people, perhaps retired, who can devote the time required to become a non-paid (and therefore non-registered) lobbyist, at the local and state levels. These volunteer lobbyists need to not only promote fiscal conservatism, but to find or identify, and promote and support citizen candidates for office, at all levels. The most important level, believe it or not, is the lowest. The local political arena is the seedbed, or the greenhouse, in which higher representatives are developed for higher office.

Organizers are looking to get citizens who will commit to camping out at town halls and attending all meetings; to getting familiar with office holders and contenders, and to getting the voice of conservatism heard. Large and small city halls, and the state house are all in need of knowledgeable citizens who are motivated enough to commit to this as if it were a job.

Most lobbyists, we have learned, are highly paid registered professional lobbyists, and a significant number of them are lovely young women. (I wonder why.) They get the attention of the holders of power, and they jealously hold it. They camp out at congressmen’s doors. But, we have learned, if you are not paid, you don’t have to register, and you can do the same thing, in a more decent and respectable way.

If you choose to do this, you will learn that the holders of power will tend to respect you and to listen to you in spite of all obstacles, because there is one thing they fear.

They fear the voters who you represent. The one thing they fear is political defeat.

Think about it.

Labor Day Oregon: Obama’s “recovery summer” theatre ends with more spending for planned road projects

Okay. So now, American’s can grumble in their car about the road construction back-up on the way to the unemployment office instead of work….

Unemployment in Josephine County, Oregon, rose slightly last month, according to a Aug. 24 press release from the Oregon Employment Dept. (OED).

The county’s seasonally adjusted rate went from 13.8 percent in June to 14.3 percent in July, OED said. It was at 14.6 percent in July 2009.

And now this: 

WASHINGTON (AP) – Vowing to find new ways to stimulate the sputtering economy, President Barack Obama will call for long-term investments in the nation’s roads, railways and runways that would cost at least $50 billion.

The infrastructure investments are one part of a package of targeted proposals the White House is expected to announce in hopes of jump-starting the economy ahead of the November election. Obama will outline the infrastructure proposal Monday at a Labor Day event in Milwaukee.

While the proposal calls for investments over six years, the White House said spending would be front-loaded with an initial $50 billion to help create jobs in the near future.

The goals of the infrastructure plan include: rebuilding 150,000 miles of roads; constructing and maintaining 4,000 miles of railways, enough to go coast-to-coast; and rehabilitating or reconstructing 150 miles of airport runways, while also installing a new air navigation system designed to reduce travel times and delays.

Obama will also call for the creation of a permanent infrastructure bank that would focus on funding national and regional infrastructure projects.

Administration officials wouldn’t say what the total cost of the infrastructure investments would be, but did say the initial $50 billion represents a significant percentage. Officials said the White House would consider closing a number of special tax breaks for oil and gas companies to pay for the proposal.

Obama made infrastructure investments a central part of the $814 billion stimulus Congress passed last year, but with that spending winding down, the economy’s growth has slowed. Officials said this infrastructure package differs from the stimulus because it’s aimed at long-term growth, while still focusing on creating jobs in the short-term.

In a Labor Day interview on CBS'”Early Show,” Labor Secretary Hilda Solis said the plan Obama was to unveil Monday would “put construction workers, welders, electricians back to work … folks that have been unemployed for a long time.”

With the unemployment rate ticking up to 9.6 percent, and polls showing the midterm elections could be dismal for Democrats, the president has promised to unveil a series of new measures on the economy.

Their is a new meaning to the phrase “Recovery Summer”. The hope that as summer winds down American’s will recover their senses at election time… 

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New Blog: Teacher Not Teaching

From time to time I spotlight blogs I like or find helpful. Teacher Not Teaching is a new blog that I already know I’ll like, but am sure also that it will be a helpful place to visit for any teacher suffering from current budget cuts, especially in California. Here’s the first post from:

Teacher Not Teaching (Thoughts on teaching in tough economic times and who we are in the classroom and out.)

Thirty-nine months. That’s how long I have until my district, the one I’ve devoted myself to for the past eight years, formally ends my layoff package and wishes me a sad farewell. That’s a long time, but it’s perhaps not long enough to recapture the students lost to the competing charter school (read: we’ll give your kids a laptop and not require that they read anything, so come on down!), not long enough to generate jobs in a local economy of fast food, retail, and…what the heck do people do for a living here? People certainly don’t open new businesses in the 65% of retail space currently unoccupied in our small town.

Therefore, those thirty-nine months may not be enough time for my superintendent to call me one fateful morning with those words I long to hear, “I have good news. We’d like to invite you back.” However, thirty-nine months is plenty long enough to watch Bank of America politely take back my house, and to see my family migrate like modern-day Joads in the opposite direction, in search of work and a new home. Ah, California schools. Livin’ the dream.

It’s probably obvious this is my first blog, but I have time on my hands, so I thought I’d give it a try. If you are an unemployed teacher, join in! Commiserate! If you are still holding onto your job, this blog will make you appreciate your sick leave and prep period, and envy the fact that I’m blogging and not grading poorly written essays about the symbolic significance of card games in Of Mice and Men. Yes, high school English teacher; you got me. You may be surprised to find that this California teacher has just as much frustration for my union as for my administration. The “Public School Question”, like “The Woman Question” in 19th Century England is complicated, and the answers won’t be simple. But, if you’re reading this, you already knew that.

I’m currently subbing in my own district, so after fourteen years of teaching, an M.A. in Education and endless hours of meaningful curriculum development and assessment, I am reduced to taking roll, pushing “Play” on the DVD, and passing out worksheets. You know we can’t be trusted. I understand. I was once you, but now I’m just a…

Teacher Not Teaching.

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Hearing voices, it’s time for them to go… Video

Register, and this time vote American…

Yes, Tito… First the House in ’10, then the Senate and the Presidency in ’12.

HAT TIP/

CONTRA PAULI

AMERICAN CATHOLIC

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O-Bum-A-Con-No-Me: Our local bank goes under…

The writings on the wall:
 
‘Relationships built on self-interest’ (i.e. Free Market Capitalism), must go.
 
And they are…

 My ‘Power Analysis’: This Democrat controlled Congress must go in 2010, followed by the president in 2012.

Well, maybe not so lasting...

The closing lines of the FDIC press release says it all–

Home Valley Bank is the 103rd FDIC-insured institution to fail in the nation this year, and the second in Oregon.

Here’s the press release in full:

South Valley Bank & Trust, Klamath Falls, Oregon, Assumes All of the Deposits of Home Valley Bank, Cave Junction, Oregon

FOR IMMEDIATE RELEASE
July 23, 2010
Media Contact:
David Barr
Office Phone: (202) 898-6992
Cell Phone: (703) 622-4790
Email: dbarr@fdic.gov

 

Home Valley Bank, Cave Junction, Oregon, was closed today by the Oregon Department of Consumer and Business Services, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with South Valley Bank & Trust, Klamath Falls, Oregon, to assume all of the deposits of Home Valley Bank.

The five branches of Home Valley Bank will reopen on Monday as branches of South Valley Bank & Trust. Depositors of Home Valley Bank will automatically become depositors of South Valley Bank & Trust. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage. Customers of Home Valley Bank should continue to use their existing branch until they receive notice from South Valley Bank & Trust that it has completed systems changes to allow other South Valley Bank & Trust branches to process their accounts as well.

This evening and over the weekend, depositors of Home Valley Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of March 31, 2010, Home Valley Bank had approximately $251.80 million in total assets and $229.6 million in total deposits. South Valley Bank & Trust will pay the FDIC a premium of 1.05 percent to assume all of the deposits of Home Valley Bank. In addition to assuming all of the deposits of the failed bank, South Valley Bank & Trust agreed to purchase essentially all of the assets.

The FDIC and South Valley Bank & Trust entered into a loss-share transaction on $211.6 million of Home Valley Bank’s assets. South Valley Bank & Trust will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-528-4893. The phone number will be operational this evening until 9:00 p.m., Pacific Daylight Time (PDT); on Saturday from 9:00 a.m. to 6:00 p.m., PDT; on Sunday from noon to 6:00 p.m., PDT; and thereafter from 8:00 a.m. to 8:00 p.m., PDT. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/homevalleyor.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $37.1 million. Compared to other alternatives, South Valley Bank & Trust’s acquisition was the least costly resolution for the FDIC’s DIF. Home Valley Bank is the 103rd FDIC-insured institution to fail in the nation this year, and the second in Oregon. The last FDIC-insured institution closed in the state was Columbia River Bank, The Dalles, on January 22, 2010.

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation’s banking system. The FDIC insures deposits at the nation’s 7,932 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC’s Public Information Center (877-275-3342 or 703-562-2200). PR-169-2010

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NY billboard from unemployed greets president today — ‘I need a freakin job. Period.’

This sign greeted President Obama in Buffalo today:

From USA Today:

President Obama isn’t getting an altogether friendly welcome in Buffalo today.

Critics have put up a billboard with a New York-type of response to the 9.9 percent unemployment rate: “Dear Mr. President: I need a freakin’ job. Period. Sincerely, inafj.org.”

The INAFJ Project is the creation of Buffalo businessman Jeff Baker, who lost his small business 15 years ago.

“We employed 25 people and it was the most heartbreaking situation I’ve been through in my life,” Baker told CBS News.

(By the way, what does INAFJ stand for? Why, “I Need A Freakin’ Job,” of course.)

A more traditional critique comes via an op-ed in The Buffalo News by local Republican Congressman Chris Lee.

Lee said encouraged Obama to “really listen” to the people of western New York, and said too many presidential policies threaten to choke off economic recovery.

“We also need to recognize that Washington’s spending is linked to our economic health,” Lee wrote. “In just two more years, according to the president’s own estimates, the debt will surpass the size of our entire American economy.”

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Video: Watch the cancer of unemployment growing county by county — Jan. 07 to Jan 2010

The legacy and fate of a one-term-only Marxist-Socialist president and his party…

Map Information/Large screen here

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