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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (111318)	8/25/2011 2:10:57 PM
From: joefromspringfield	6 Recommendations Respond to of 224718

Ken "The deficit will drop if the Bush tax cuts are allowed to expire." Explain to us why Obama didn't let them expire last December. All he had to do was nothing. Could it be that the democrats were lying by saying it was just a tax cut for the rich? Is it possible that part of the approximately 50% of the people who paid no federal income tax in 2010 would owe taxes if we reverted back to the rates the year Clinton left office?

To: Kenneth E. Phillipps who wrote (111318)	8/25/2011 2:41:24 PM
From: Hope Praytochange	1 Recommendation Respond to of 224718

Market crash 'could hit within weeks', warn bankers A more severe crash than the one triggered by the collapse of Lehman Brothers could be on the way, according to alarm signals in the credit markets. telegraph.co.uk

To: Kenneth E. Phillipps who wrote (111318)	8/25/2011 3:47:18 PM
From: chartseer	3 Recommendations Respond to of 224718

Then why were they renewed?

To: Kenneth E. Phillipps who wrote (111318)	8/25/2011 4:47:19 PM
From: longnshort	2 Recommendations Respond to of 224718

Andrew Klavan: Three Rules for Wannabe Punditshttp://www.breitbart.tv/andrew-klavan-three-rules-for-wannabe-pundits/

To: Kenneth E. Phillipps who wrote (111318)	8/25/2011 5:34:09 PM
From: tonto	5 Recommendations Respond to of 224718

You mean the Obama tax cuts. The Bush cuts had a sunset on them and they now are Obama's. If you are against them, at least identify them correctly.

To: Kenneth E. Phillipps who wrote (111318)	8/25/2011 6:56:16 PM
From: Hope Praytochange	1 Recommendation Respond to of 224718

Behind The Money By John Melloy, Executive Producer, Fast Money A plunge in the most recent economic data puts the probability of a recession above 80 percent, according to modeling by Bank of America Merrill Lynch released Wednesday, reflecting the toll the U.S. debt downgrade, Europe’s woes and stock market volatility has taken on economic activity. To be sure, the firm’s economic team warned more data is needed for it to raise its overall official prediction of a recession that high. Still, the recent dismal readings from the Philadelphia Federal Reserve and the University of Michigan were enough for Merrill to raise its overall probability of a contraction in the next year to 40 percent from 35 percent at the start of this month. A survey of manufacturing in the Philadelphia region plunged to its lowest level since March 2009, according to the Fed last week. Consumer confidence is at its lowest level since May 1980, according to a Thomson Reuters/University Michigan survey released on August 12th. A revision of this survey will be released tomorrow. The Philly Fed puts a recession probability at 85.7 percent, while the consumer survey puts contraction chances at 80 percent, according to Bank of America's probability model, which uses a so-called Bayesian technique that “tests if the economy is in a recession based on the interaction of variables that are associated with turns in the business cycle.” “More timely consumer and business sentiment indicators dropped in August in response to a range of bad news,” said Michael Hanson, one of the firm’s economists, in the note. “While we concede the risks are rising, a recession is not baked in the cake. If the economy can avoid further shocks, we would expect a modest bounce in growth into the end of the year.” According to their data, the Philly Fed has accurately forecast four of the last seven recessions. The older Michigan survey has accurately signaled three of the last eight recessions. “It’s a 100 percent chance,” said Peter Schiff, CEO & Chief Global Strategist of Euro Pacific Capital. “In fact the recession might have already started.” The Merrill economics team is less pessimistic than Schiff and is quick to point out that since 1990, the Philly Fed has signaled recessions six times that have never come to fruition. Therefore, a sudden drop of this magnitude is not unusual for this indicator. Still, the latest economic data raises the stakes for Federal Reserve Chairman Ben Bernanke’s speech Friday from the central bank’s Jackson Hole summit. Many investors are hoping the data will push the Fed Chief to signal a new type of stimulus, however others believe Bernanke will simply say that they stand ready to do anything to save the economy, but more data is needed. Weekly jobless claims released Thursday unexpectedly rose to 417,000, above economists’ estimates and further validating the data from earlier in the month. Ironically, the most accurate recession indicator that could be used by Bernanke has likely been skewed by the Federal Reserve’s pledge to keep rates at near zero into mid-2013. An inverted yield curve, when the 3-month Treasury yield rises above the 10-year Treasury rate, has accurately predicted seven of the last eight recessions with just one false positive since 1960, according to Bank of America. “The yield curve has definitely been distorted by the Fed as it’s tough to come near inversion when short term rates remain near zero,” said Jim Iuorio of TJM Institutional Services. “This morning’s jobs numbers pushed my odds to 60/40 in favor of recession.”

To: Kenneth E. Phillipps who wrote (111318)	8/25/2011 11:50:11 PM
From: Paul V.	Read Replies (7) \| Respond to of 224718

Kenneth, saw the following on the SI Jokes and Humor site. Thought some on this site may find it as humorous. Guess that is the Texas approach. :) To: Aggie who wrote (1842)8/25/2011 1:03:45 PMFrom: The Rabbit1 Recommendation of 1844 Rick Perry is campaigning for it, however...

To: Kenneth E. Phillipps who wrote (111318)	8/26/2011 5:54:44 AM
From: Hope Praytochange	1 Recommendation Respond to of 224718

Hurricane Tracker Irene was still a Category 3 storm on Thursday evening.

To: Kenneth E. Phillipps who wrote (111318)	8/26/2011 8:12:45 AM
From: lorne	3 Recommendations Respond to of 224718

ken..Are you pleased that soros,obama and samantha powers plans to destroy the State of Israel are bearing fruit?? South pounded by rockets, prepares for more violence By YAAKOV KATZ 08/26/2011 jpost.com IAF strikes two terrorists on motorbike in Gaza; at least 15 rockets fired into Israel; tourists advised to immediately leave Sinai. The South braced for a weekend of violence on Thursday night as rocket fire intensified and the IDF struck back, killing two terrorists in the Gaza Strip. At least 15 rockets and mortar shells pounded southern Israel, hitting open areas near Ashkelon and in the Sha’ar Hanegev Regional Council. A mortar shell struck the Erez crossing, which is frequently used by Palestinians to enter Israel for medical treatments, causing extensive damage. The Israel Air Force immediately struck a motorbike traveling in northern Gaza that military sources said was being driven by two men from Islamic Jihad who had fired the mortar shells at the Erez crossing. Defense officials said Israel would hold Hamas responsible for the increase in rocket fire that began on Wednesday after a short lull and included more than 20 rockets that struck Israel throughout the night. IDF sources said Islamic Jihad was behind the rocket fire and that there were indications that Hamas was trying to rein in the group to prevent a larger Israeli retaliation. Palestinians reported around 10 people killed in IAF strikes that began on Wednesday night and that a total of 22 have been killed since the beginning of hostilities last week. According to the IDF, a majority are known terrorists. The Ma’an news agency reported on Thursday that seven Palestinians were killed in air strikes overnight Wednesday against a weapons-smuggling tunnel in the southern Gaza town of Rafah. Four bodies were retrieved from the tunnel on Thursday afternoon. Another three Palestinians were killed in an air strike in Beit Lahiya in northern Gaza. Defense Minister Ehud Barak said he was satisfied with the IDF operations so far. Defense officials said that Israel planned to continue to restrain itself but would begin escalating its response if the rocket attacks from Gaza continued. “I’m extremely satisfied by this achievement,” because it signals “that we mean business and we are not going to accept the massacre of our civilians on the roads,” Barak told CNN. The Home Front Command issued new instructions to the general public in the South on Thursday, banning large outdoor events and urging residents of towns under fire to remain near bomb shelters. The IDF remained on high alert along the border with Egypt out of concern that additional terrorist cells were planning attacks against Israel, similar to the ones carried out last week near Eilat. According to one report on Thursday, the Shin Bet (Israel Security Agency), which had provided intelligence regarding the attacks several weeks before they occurred, had recommended that the IDF attack some members of the cell while they were still in the Gaza Strip, in an effort to thwart the attack. The IDF, however, decided not to follow the recommendation out of concern that such a strike would set off a new conflict with Hamas and other armed groups in Gaza. The Shin Bet refused to confirm the report, which first appeared on Army Radio. Also on Thursday, the Counter-Terror Bureau in the Prime Minister’s Office reiterated its warning to Israelis to immediately leave the Sinai Peninsula due to fears that terrorists are roaming freely there with plans to attack or kidnap Israeli vacationers.

To: Kenneth E. Phillipps who wrote (111318)	8/26/2011 8:17:45 AM
From: lorne	2 Recommendations Respond to of 224718

ken..hussein obama has a ally removed from power to facilitate the takeover by moslum brotherhood and thereby help iran destroy the State of Israel...is that how it's supposed to happen kenny? Will obama created turmoil of ME destroy Israel? Thats an easy question ken...what do you think? ‘Zionist Envoy, Leave Egypt or Die,” Demonstrators Demand The Muslim Brotherhood threatens to kill Israel's ambassador to Cairo if he does not leave the country. “All of Egypt is Hamas.” by Tzvi Ben Gedalyahu Published: 23/08/11 israelnationalnews.com Arutz Sheva photo: Flash 90The Muslim Brotherhood has threatend to kill Israel's ambassador to Cairo if he does not leave the country. The radical Muslim group has been leading daily protests at the Israeli embassy in Cairo, demanding the expulsion of the envoy and a break in relations between Egypt and Israel. Hundreds of demonstrators surrounded the embassy Monday as armored military and police officers prevented them from repeating Saturday night’s incident when rioters broke down the gate. One firebomb smashed through a front window of the embassy’s office. One anti-Zionist, now referred to as ”Spiderman,” became an instant hero throughout Egypt by scaling the multi-story wall and replacing the Israeli flag with one of Egypt. The Israeli flag was burned. “Revolution,” cried out Muslim Brotherhood activists. “Revolution is stronger than the Zionist attackers. The entire Egyptian people are Hamas.” One hostile placard threatened that the ambassador must “get out [of Egypt] or die here.” The demonstrators also proclaimed, “Oh Zionist traitor, blood and fire are between you and us.“ They charged that “Zionists mock us with calls for peace, and their principles offend Muslim.” The refusal to use the word “Israel” is similar to the policy of Iran, Hamas and other Muslim terrorist organizations.

To: Kenneth E. Phillipps who wrote (111318)	8/26/2011 8:20:15 AM
From: lorne	3 Recommendations Respond to of 224718

ken..I sure hope hussein obama has not lied to the American people....again...that would be just awful , don't ya think so? Western 'soldiers' on ground in Libya Mercenaries reported joining campaign to shut down Gadhafi August 25, 2011 wnd.com WASHINGTON – Some "soldiers" from the West, which through NATO has been running interference for the rebels trying to take down the Moammar Gadhafi regime in Libya, now are on the ground there, according to reports documented in Joseph Farah's G2 Bulletin. They are being called mercenaries or private military contractors, and they apparently are joining with elements of al-Qaida in a maneuver designed to circumvent a strict limitation imposed in a United Nations resolution that authorized military strikes to enforce a "no-fly" zone over the North African nation. Several sources confirm that Qatar and Saudi Arabia have hired private military contractors to advise and inevitably fight alongside the rebels in apparent contravention of United Nations Security Council Resolution 1973, which explicitly bans the use of ground troops in Libya. But the sources report that troops now also include Special Forces, mercenaries and private military contractors from the West. The Russians and Chinese have been particularly critical of NATO forces, charging that they have exceeded the authority of the March UNSC resolution by introducing Special Forces troops and, in effect, putting "boots on the ground." Russian observers estimate that there may be some 1,000 Special Forces and as many as 5,000 mercenaries from European and Arab private military companies involved. There also are reports that PMCs from Russia, Ukraine and Kazakhstan also are assisting the rebels. Britain and France are the European countries undertaking the most active role in the NATO campaign against the Gadhafi regime. Western and Arab countries decided to send in their Special Forces and personnel from private military contractors when they realized the air campaign alone of enforcing a no-fly zone allowed under the UNSC resolution wasn't working. Now, British defense sources have confirmed that British Special Forces have been in Libya for several weeks, coordinating the fall of Tripoli with the rebels. Sources say that soldiers from 22 Special Air Service Regiment, or SAS, have been assisting the rebels on orders from Prime Minister David Cameron.

To: Kenneth E. Phillipps who wrote (111318)	8/26/2011 9:28:02 AM
From: Follies	4 Recommendations Respond to of 224718

>>The deficit will drop if the Bush tax cuts are allowed to expire. just like Illinois' deficit is improving since they raised tax rates.

To: Kenneth E. Phillipps who wrote (111318)	8/26/2011 10:00:14 AM
From: FJB	1 Recommendation Respond to of 224718

Economy grew at slower 1 pct. rate this spring Economy grew 1 pct. this spring, slower than first estimated; likely to fuel recession fears Christopher S. Rugaber, AP Economics Writer, On Friday August 26, 2011, 9:11 am WASHINGTON (AP) -- The U.S. economy grew at a meager 1 percent annual pace this spring, slower than previously estimated. The downward revision will likely increase fears that the economy is at risk of another recession. Fewer exports and weaker growth in business stockpiles led the Commerce Department to lower its estimate for the April-June quarter from its previous rate of 1.3 percent growth. That means the economy expanded only 0.7 percent in the first six months of the year. Nine of the past 11 recessions since World War II have been preceded by a period of growth of 1 percent or less, economists note. Still, many said the revision hasn't changed their outlook for the rest of this year. The weaker growth could rattle an already edgy stock market, which has lost 12 percent of its value since July 21. Stock futures fell after the report was released. Economists worry this summer's sell-off on Wall Street could hurt growth in the second half of the year, if consumers and businesses pull back on spending and investment. High gas and food prices have already eroded consumers' buying power. Spending increased only 0.4 percent in the April-June period, the weakest growth since the final three months of 2009. The revision showed spending was a bit higher than the government's first estimate of 0.1 percent growth. But the increase mostly reflected greater spending on health care, insurance and financial services, the government said. People bought fewer long-lasting manufactured goods, such as autos and appliances. Those purchases fell 5.1 percent this spring, the biggest drop since the final three months of 2008. That partly reflects a shortage of autos on many dealer lots after the March 11 earthquake in Japan. Consumers spending accounts for 70 percent of growth. "Consumption still barely had a pulse," said Tom Porcelli, chief U.S. economist at RBC Capital Markets. Government spending contracted for the third straight quarter. And spending by state and local governments declined for the seventh time in eight quarters. Federal Reserve Chairman Ben Bernanke will deliver a highly-anticipated speech later Friday in Jackson Hole, Wyo. Investors hope he will signal that the Fed will launch a new effort to boost the economy, but analysts don't expect anything ambitious. The central bank has already cut the benchmark short-term interest rate it controls to nearly zero, and last week pledged to keep it there until mid-2013. But so far lower interest rates haven't helped: mortgage rates, for example, are already at record lows, and home sales are still falling. Several dismal economic reports have suggested the economy worsened in the July-September quarter, sending the stock market lower. Manufacturing in the mid-Atlantic region contracted in August by the most in more than two years, a survey by the Federal Reserve Bank of Philadelphia found. A Richmond Fed survey released Tuesday and a New York Fed survey last week also pointed to slowdowns in those areas, although not as severe. There have been some positive signs. The economy added 117,000 net jobs in July, twice the number added in each of the previous two months. Consumers spent more on retail goods last month than in any month since March. U.S. automakers rebounded last month to boost factory production by the most since the Japan crisis. Most economists aren't forecasting a recession. JPMorgan Chase projects the U.S. economy will grow only 0.9 percent this year and 1.7 percent in 2012, much lower than the bank's estimates just a few weeks ago. Other economists have made similar downgrades. Thursday's report is the second of three estimates the government issues for each quarter's economic growth. The estimates are updated with more recent data that wasn't available for the first take.

To: Kenneth E. Phillipps who wrote (111318)	8/26/2011 10:30:27 AM
From: Hope Praytochange	1 Recommendation Respond to of 224718

In his much-anticipated speech, the Federal Reserve chairman said the nation’s long-term prospects were strong and offered an unusual critique of the government’s fiscal policy. Bernanke Offers No Plan for New Stimulus By BINYAMIN APPELBAUM 10 minutes ago

To: Kenneth E. Phillipps who wrote (111318)	8/26/2011 11:10:15 AM
From: lorne	2 Recommendations Respond to of 224718

ken. .At last maybe some good news for hussein obama..allah has seen fit to send a hurricane to the East coast of USA...obama will get to use the programs put in place by President Bush to make himself appear to know what he is doing....hey he might even pick up a few voters? improve his ratings, i'm sure you have seen napalitano all over the news showing how good she is at using Bush programs. Darn, this time you may be correct..It's Bush's fault " if obama get a boost in ratings. :-(

To: Kenneth E. Phillipps who wrote (111318)	8/26/2011 11:55:31 AM
From: JakeStraw	3 Recommendations Respond to of 224718

Obamanonics vs. Reaganomics online.wsj.com One program for recovery worked, and the other hasn't. If you really want to light the fuse of a liberal Democrat, compare Barack Obama's economic performance after 30 months in office with that of Ronald Reagan. It's not at all flattering for Mr. Obama. By the end of the summer of Reagan's third year in office, the economy was soaring. The GDP growth rate was 5% and racing toward 7%, even 8% growth. In 1983 and '84 output was growing so fast the biggest worry was that the economy would "overheat." In the summer of 2011 we have an economy limping along at barely 1% growth and by some indications headed toward a "double-dip" recession. By the end of Reagan's first term, it was Morning in America. Today there is gloomy talk of America in its twilight.