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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (105047)	12/1/2011 1:07:54 AM
From: Oblivious	Read Replies (1) \| Respond to of 149317

I thought it began under Carter.

To: tejek who wrote (105047)	12/1/2011 9:39:19 AM
From: RetiredNow	Read Replies (1) \| Respond to of 149317

I see the fires raging hire than under Bush. The fire got started under Bush, after smoldering for a couple decades, but that fire has been fed by Obama. Now it's becoming a forest fire. The whole world is awash in increasingly worthless dollars and the whole developed world's deficits and debts are out of control. Incidentally, nothing good in the latest unemployment claims release, as usual: Initial Claims back above 400k By Peter Boockvar - December 1st, 2011, 9:07AM Initial Jobless Claims totaled 402k, 12k more than expected and up from 396k last week (revised up by 3k). It follows 3 weeks in a row of below 400k but while the data is seasonally adjusted, the Thanksgiving holiday may have been a factor in the deviation relative to expectations even though the Labor Dept said there was nothing unusual in the data. The 4 week average was little changed at 396k vs 395k. Continuing Claims did rise by 35k and were 90k more than expected and Extended Benefits rose by a net 70k. The last extension of unemployment benefits expire at yr’s end and its extension of course will be political fodder on both sides. To this, while many jobs available don’t fit the skill set of demand, as of Sept 30th, there were 3.3mm job openings, the most since Aug ’08. Tomorrow’s Payroll estimate is for a gain of 125k, 150k of which are from the private sector.

To: tejek who wrote (105047)	12/1/2011 9:44:45 AM
From: RetiredNow	Read Replies (1) \| Respond to of 149317

The Sovereign Debt Train Wreck ... No Exit … The US is in serious, perhaps irretrievable, financial trouble. Peter Schiff president of Euro Pacific Capital, identified the state of the Union with characteristic bluntness: “Our government doesn’t have enough spare cash to bail out a lemonade stand. Our standard of living must decline to reflect years of reckless consumption and the disintegration of our industrial base. Only by swallowing this tough medicine now will our sick economy ever recover.” There is a lack of political or popular will to take the action necessary to even stabilise the position. The role of US dollars and US government bonds in the financial system mean that the problems are likely to spread rapidly to engulf other nations. As John Connally, US Treasury Secretary under President Nixon, beligerently observed: “Our dollar, but your problem.” Minor symptoms, often increasing in frequency and severity, can provide warning of a life threatening problem in a key organ, such as the heart. Since 2007, the global financial markets have been providing warnings of an impending serious crisis. Private sector credit problems have spread to sovereign nations. Debt problems of smaller nations have flowed on to larger nations. The problems are gradually working their way to the issue of US debt. Without rapid and decisive action, which seems to be unlikely, a major organ failure within the global economy is now inevitable. Th magnitude of the problem and its effects are so large, market participants would do well to heed Douglas Adams famous advice in The Hitchhikers Guide to the Galaxy. Find dark glasses that go black in the case of a crisis and a towel to suck on.