“On the surface, the latest consumer spending figures suggest that it’s not all doom and gloom out there. In fact, if you take a drive down to your local mall or strip center chances are you’ll see the parking lots full and shoppers filling up their carts with as many useless slave labored imported goods as they can get their hands on. According to economists this is a sign that the economy is bouncing back, and if we could just get more people to do the same thing we should return to booming growth in no time:”
Via SHTF Plan
“Did you know that an average of 23 manufacturing facilities were shut down every single day in the United States last year? As World War II ended, the United States emerged as the greatest industrial power that the world has ever seen. But now America’s industrial might is being gutted like a fish and both political parties seem totally unconcerned. Yes, we will always need trading relationships that are fair and balanced with other countries that have economic systems that are similar to our own. However, the truth is that most of our trading relationships are neither “fair” nor balanced. For example, China manipulates currency rates so that Chinese products are much cheaper than they should be, they brazenly steal our technology and we let them get away with it, they deeply subsidize their most important industries and they exploit their citizens by allowing them to be paid slave labor wages. How in the world does that resemble the “free market” at work? Predatory nations such as China do everything that they can to distort the free market. So why in the world would any rational economist ever recommend that we should keep trading with other countries that are cheating us blind? After you read the facts in this article about the gutting of America’s industrial might, hopefully you will get very angry. We need the American people to start getting very upset about these very important issues.”
“While Italy is bickering over just how inhumane it is to raise the retirement age by 2 years in a 15 year span (which works out to a whopping 48 days per year) and will likely lead to mass riots and bloodshed in Rome before the idea is ultimately scrapped, things in America’s own back yard, the country that now that the EFSF is finished will have no choice but to come to Europe’s rescue via the IMF, are looking horrendous to quite horrendous. In fact when it comes to retirement, 80 is, we are sad to say, the new 65, at least according to Wells Fargo. And with average life expectancy in the US peaking at 78.1, it means that the typical American will have to work for an additional 2 years after death to pay for not only not having any retirement savings (thank you Bernanke ZIRP and VIX>30 stock market), but to make sure Europeans have theirs. You think we jest? Nope.”
Via Zero Hedge
“A Couple of months ago, Deputy Assistant Attorney General Beth Brinkmann was standing before the US Court of Appeals for the DC Circuit, defending the federal law requiring Americans to buy government-approved health insurance, when Judge Laurence Silberman asked her about broccoli.
He wanted to know whether a law requiring Americans to buy broccoli would exceed the federal government’s authority to regulate interstate commerce. “No,” Brinkmann said. “It depends,” she added.
Silberman evidently was troubled by that shifty answer. Last week, he expressed “discomfort with the government’s failure to advance any clear doctrinal principles limiting congressional mandates that any American purchase any product or service in interstate commerce.” Oddly, he voiced that concern in the context of a majority opinion upholding the health-insurance mandate.
Dissenting Judge Brett Kavanaugh congratulated the majority for its candor in “admitting that there is no real limiting principle to its Commerce Clause holding.””
Via NY Post
“Women with sexy eyes in Saudi Arabia may be forced to cover them up, according to the spokesperson of the Committee for the Promotion of Virtue and the Prevention of Vice (CPVPV) in the conservative Gulf kingdom.
Spokesman of the Ha’eal district, Sheikh Motlab al-Nabet said the committee has the right to stop a women whose eyes seem “tempting” and order her to cover them immediately.”
Via Weasel Zippers
Jay Leno’s Wife: “The Koran Is More Liberal With Women Than The Bible”…
“When asked about the role of Islam in the status of women in Afghanistan, Leno confirmed that “the Quran is more liberal with women than the Bible.” She added that Prophet Mohammad was married to a wealthy and powerful woman, implying that Islam has nothing against empowering women; on the contrary it is a religion that supports women’s rights. Culture, on the other hand, affects the interpretation of religious texts which results in assaulting women’s rights.”
Via Weasel Zippers
Who you calling lazy? President Obama peddles the myth of a downtrodden country to serve his own ends
“It is arguably the job of any U.S. President to be our cheerleader-in-chief. That’s why President Obama’s recent comments blasting the business community for being asleep at the switch have the rest of the country reeling.
“We’ve been a little bit lazy over the last couple of decades. We’ve kind of taken for granted — ‘Well, people would want to come here’ — and we aren’t out there hungry, selling America and trying to attract new businesses into America,” he told the corporate chiefs who gathered at the annual Asia-Pacific Economic Cooperation summit.
But with millions of Americans out of work, maybe it’s the President who needs to do a better job of making America more attractive. Instead, Obama has reverted to his old playbook as he campaigns across the country on a platform of doom and gloom meant to deflect blame from himself to the Republicans.”
Via NY Daily News
Shooters Heard: Interior Will Not Ban Target Practice
“Under fire from gun owners concerned about draft guidelines that could limit areas for target practice on western public lands, the Interior Department today said it would make sure shooters still have access to lands long available for firearms recreation.
“Our goal is to leave lands open to shooting,” said an Interior official for the Bureau of Land Management, which is drafting guidelines to deal with the growing clash between skittish urbanites moving to western wilderness areas and America’s tradition of letting gun owners shoot targets on public lands.”
“To most Americans, the stock market is the Dow Jones Industrial Average. Whether professionals follow it or not, it really is what most Americans look at when judging the health of the market. And guess what, it is up over 3% on the year. Yes, the S&P and marginally down on the year, but the DOW, the symbol of the American Market is up.
I found Mr. Buffet’s purchase of IBM somewhat interesting. He has avoided “tech” companies for a long time. I understand that IBM has diversified, but it is hard to really classify it as much other than a tech company. Also, for a legendary value investor, find a stock that is up 28.5% YTD, 35% in the past year, and is at an all-time just seemed weird. Again, I understand that sometimes value can be found in the biggest companies, even those trading at its all time highs or that have had massive runs. According to Bloomberg there are 15 analysts with a buy recommendation and 16 with a hold. Not the everyone’s favorite stock, but hardly out of favor.”
Via Zero Hedge
“The decoupling desperation hits just keep on coming. After revising last week’s 390k number as usual higher to 393K, today’s soon to be revised higher jobless claims number hit 388k – the lowest since April, on expectation of 395k. Naturally the robots took one look at the number and completely ignored the fact that Europe’s slow motion implosion continues because a few thousand people fired less apparently is good news. Naturally, that corporations, which have already cut all the fat and now have fewer and fewer people left to fire is of secondary importance. After all the decoupling thesis must survive at all costs because if not for America, which together with everyone else, has exported $338 billion more than they have imported – a mathematical idiocy which was noted yesterday – then the world is apparently doomed”
Via Zero Hedge
“In a move straight out of George Orwell’s 1984, Lancaster, California has approved the use of a surveillance plane to videotape the city ten hours a day.
The plane will collect intelligence on the citizens of the city regardless whether or not they are doing anything illegal.”
Via Activist post