If I didn't know better I would say the STAGE is being SET for ANOTHER FALSE FLAG ATTACK for LATE SEPTEMBER -- especially with the Palestinians scheduled to appeal for statehood from the U.N.
So what is it going to be, a REALLY BIG BANG in Chicago to be blamed on them to initiate WWIII?
"House OK’s debt package; Broad measure draws fire in both parties, heads to expected Senate passage today" August 02, 2011|By Matt Viser and Donovan Slack, Globe Staff
WASHINGTON - During an emotional day, with acrimony evident behind closed doors and in public view, liberal Democrats and conservative Republicans decried the terms of the deal. Republicans wanted further domestic spending cuts - and fewer to defense programs - while Democrats said the proposal put at risk some entitlement programs they cherish and should have included tax increases.
But much of the partisan rancor seemed to evaporate when Representative Gabrielle Giffords, the Arizona Democrat who was shot in the head earlier this year at a town hall meeting, made a surprise appearance in the House chamber with about three minutes left to vote on the debt deal. Large applause broke out and members crowded around her.
Related:
Giffords insisted on casting vote
Globe Editorial Giffords: A simple message of unity
The American people are united on many things; it's the politicians and their banking backers that are the problem!
“It’s really good,’’ Vice President Joe Biden said afterward. “Here I am hugging Gabby and Michele Bachmann… . There’s a basic humanity here, man. It matters.’’
Yeah, except that Bachmann is a Tea Party "terrorist!!"
Or is THAT the NEXT GROUP to serve as DESIGNATED PATSY to justify EVEN FURTHER INTERNAL REPRESSION and construction of the TOTAL SURVEILLANCE SOCIETY?
And HAVE YOU HAD ENOUGH with the BS POLITICS in the BG?
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Tempers were running high yesterday, which seemed to be one reason House and Senate leaders scheduled quick votes to prevent the deal from falling apart....
That means BEFORE ANYONE COULD READ IT!!!
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My temper is always running high after flipping through a Globe.
Also see: Mostly ‘no’ from Massachusetts delegation
Globe Editorial A win for neither side, debt deal is a necessity
Really?
It's a different tune the next day:
"Huge cuts could imperil recovery, economists say" by Megan Woolhouse, Globe Staff / August 3, 2011
The massive federal spending cuts that will follow the deficit reduction deal could further weaken a national economy that has been rapidly losing momentum, economists said.
I guess you can have momentum in reverse.
Related:
Markets show a glimmer of optimism
Wall Street rally short-lived
While few forecast an imminent downturn, they said the withdrawal of hundreds of billions of federal dollars comes at a bad time. Over the past few months, hiring has ground almost to a halt, the unemployment rate has resumed an upward trend, and overall economic growth has been barely positive.
So now all the urgency to get this done is a BAD THING?
Yesterday, the Commerce Department reported that consumer spending, which accounts for more than two-thirds of the nation’s economic activity, fell for the first time in nearly two years.
“That was a surprise it was so bad,’’ said Kenneth Rogoff, a Harvard economics professor. “If consumption is weak, what are businesses going to do? We’re certainly at a vulnerable point.’’
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Rogoff also said the budget resolution was “very unsatisfying because all the hard decisions are left ahead.’’ He added that the budget battle diminished both Congress and the president’s stature, and could undermine business, investor, and consumer confidence....
Stocks plunged yesterday on fears of a weakening economy, with the Dow Jones industrial average losing more than 265 points. It was the eighth consecutive day of declines, the longest losing streak since October 2008, during the financial crisis.
Persistently high unemployment above 9 percent and a fear of additional job losses also weigh heavily on consumers, who dramatically reined in their spending; between May and June, the nation’s savings rate rose from 5.0 to 5.4 percent. The weak economy, further hurt by a stagnating housing market, has raised concerns that the nation could slip into a second, or double-dip, recession....
First of all, we NEVER CAME OUT of the GRAND DEPRESSION!
Secondly, the "experts" were DENYING THIS the LAST TWO YEARS or whatever! One reason I rarely reach the business section anymore is because I am sick of bullshit.
Gary Richardson, an economist at the University of California at Irvine and a scholar of the era, said political leaders have failed to address the long-term economic questions, such as whether the government can continue to fund Social Security and Medicare benefits at promised levels....
Even though YOU ALREADY PAID for THOSE SERVICES, America!
Yup, the EMPIRE NEEDS your RETIREMENT MONEY as it CREAKS toward COLLAPSE!
Eugene White, an economist at Rutgers University who has also studied the Great Depression, said tax increases in 1937 contributed to the second slide back into recession.
Yeah, I'm one of those who wants no more taxes, not even on the rich guys. It's all being wasted on wars and the surveillance control grid or being doled out to corporations or Israel.
He said he expects the recently enacted federal cuts to cause a short-term reduction in national economic growth. “I would not say that it will have a huge driving effect on the economy,’’ he said.
White also said that for years after the Great Depression, banks were wary of making loans, much as banks today are lending cautiously, contributing to slower growth. “I would say banks are caught between a rock and a hard place,’’ White said. “On the one hand, government wants them to lend more, and on the other hand, we don’t want them to take any important risks.’’
Oh, the POOR, POOR BANKS!!
Related:
"JPMorgan Chase surprised Wall Street Thursday with a sharp increase in investment banking income at a time when other banks are warning of layoffs because of a slowdown in trading. The New York bank earned $5.4 billion."
Yeah, that is with a B, readers -- all for THREE MONTHS "work."
Also see:
HSBC announces job cuts alongside positive six-month profit report
Goldman doubles profit, plans layoffs
Yeah, BANKS are doing JUST FINE and HELPING ALONG UNEMPLOYMENT!!!
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"Investor worries keep Dow tumbling; Debt deal can’t allay all fears Jobs report considered key" by Todd Wallack, Globe Staff / August 3, 2011
The stock market plummeted again yesterday on growing worries about the ailing US economy, despite the fact that President Obama signed legislation to raise the debt ceiling and avert a potentially disastrous default on the country’s debt....
Analysts said the market has been beaten down by a wave of bad economic news in the past week, in addition to anxiety about a potential default. The Commerce Department said yesterday that consumer spending dropped 0.2 percent in June, the first decline in nearly two years. And that followed a weak manufacturing report on Monday and a dour study on Friday that showed the economy has been growing even more slowly than previously thought.
Translation: YOU HAVE BEEN LIED TO AGAIN and AGAIN and AGAIN, dear readers!
In addition, some investors are now beginning to fret that the debt ceiling deal could actually further weaken the economy by cutting government spending before the economy has fully recovered from the recession....
Great! Just GREAT!!
You have been HAD AGAIN, America!!!!
“The austerity measures are necessary to improve our long-term fiscal health, but in the near term these measures will act as a headwind against growth,’’ said Paul R. Touchstone, senior investment strategist for Stone & Youngberg LLC, a financial services firm in San Francisco. Touchstone said he was previously optimistic that the economy would improve in the second half of the year but plans to revisit that prediction in light of the latest numbers....
And the stock market could be shaken again in coming days if new jobs data come in weaker than expected....
Then the government will just lie and revise later like always.
Gale L. Smith, an investment adviser in Beverly, said she thinks the market has been driven down in part because people were pocketing some of their profits after the market soared earlier in this year.
Yes, ONLY the WEALTHY "RECOVERED" this whole time!
Smith said she doubts the market would fall much more since the debt deal erased a major threat hanging over the market.
In fact, she believes the market will rally in early September as companies report strong earnings and because there has been such a steep sell-off in recent days.
Yeah, I notice during the flip-through companies are always making profits -- and yet no jobs.
“There’s a lot of relief that the Aug. 2 deadline has been removed,’’ said Smith, president of Gale L. Smith & Co., a portfolio management firm.
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Back to Washington:
"Default averted, battles loom; After Senate OK’s bill, focus shifts to new deficit panel" by Matt Viser, Globe Staff / August 3, 2011
WASHINGTON - The Senate approved a sweeping package yesterday that allowed the United States to begin borrowing more money, and President Obama signed the legislation just hours before the country would have faced default on its obligations.
Following an extraordinary, bruising political battle in which neither side emerged unscathed, the Senate approved the measure by an overwhelming 74-to-26 margin. Although the bill enabled the government to continue paying its bills, many questions remained about how the legislation will lower the deficit.
A 12-member joint congressional committee will be formed over the next two weeks to find up to another $1.5 trillion in savings.
Related: Congress will hand the sticky details to a bipartisan committee of 12
That has to be one of the most UN-AMERICAN THINGS I HAVE EVER SEEN!
Yeah, let's put the FATE of the NATION in the hands of an APPOINTED POLITBURO!!!
A key question is whether the committee, which must make its recommendations by Thanksgiving, will address increased tax revenue....
The word in the blogosphere is a National Sales Tax -- euphemistically called a Value-Added Tax -- and the reviving of the CARBON TAX!
How long before they jam a fart meter and poop scale up your ass to calculate and gauge your emissions?
On a day when the Dow dropped 266 points, Democrats also sought to shift the focus to the economy, saying they intend to place new emphasis on job creation in the coming weeks.
“Jobs, jobs, job, jobs, jobs,’’ House minority leader Nancy Pelosi said at a press conference yesterday. “You cannot say it enough.’’
Where, oh where, have you BEEN ALL THESE YEARS (especially the last two) as TAX LAW ENCOURAGED and REWARDED COMPANIES to MOVES JOBS OUT?
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And OPEN WIDE, America:
"Drop-dead date brought out the tortured metaphors; No politician wanted to blink first in debt fight" by Matt Viser, Globe Staff / August 3, 2011
WASHINGTON - “This deal is a sugar-coated Satan sandwich,’’ proclaimed Representative Emanuel Cleaver, a Missouri Democrat. “If you lift the bun, you will not like what you see.’’ Nancy Pelosi, the House minority leader, concurred, adding, “with Satan fries on the side.’’
Congress passed that debt plan yesterday, saving the government from running out of money and the country from a daily overdose of tortured metaphors. The politicians have compared the vitriolic debate, calcified stances, and the legislation yoking spending cuts with a higher debt ceiling to everything from turning a battleship around to drinking a glass of sweet tea. To rally the rank and file, they have used sports. Movies have been referenced, biblical comparisons trotted out....
Members of Congress are not known for brevity and, in a building normally packed with 535 politicians they have to be creative to stick out. At times they have been sober, trying to calm financial markets - and constituents. But as the debate dragged on, the politicians seem to be weighed down by a deficit of ways to describe the situation.
When Vice President Joe Biden met with Democrats, he talked of the “sword of Damocles’’ hanging over their heads. (He also reportedly compared dealing with Republicans to negotiating with terrorists.)
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Senator Joe Lieberman took the practice to a new level, employing four metaphors over the course of three minutes.
“Who’s going to blink first?’’ the independent from Connecticut said. “It’s a game of chicken, in which the losers are going to be the American people.’’
He then compared the situation to Russian roulette, and in the next breath compared it to a more child-friendly game.
“Sometimes I’ve had this feeling that this would be that game of hot potato,’’ Lieberman said. “And whoever was holding the hot potato as we got to next Monday was going to have to eat it. Because the alternative would be default and disaster for our economy. So watch the hot potato.’’
(The hot potato ended up in the Senate yesterday, although no senators were spotted eating one.)
Ha, ha.... ha.
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"Deal’s cutbacks could hobble state’s recovery" August 02, 2011|By Megan Woolhouse, Globe Staff
Massachusetts would lose an estimated $400 million in federal dollars next year and $800 million the following year in the federal budget deal moving through Congress, cutbacks that could slow the state’s tenuous economic recovery, regional economists said.
Related: For now, state’s job picture still brighter than nation’s
Whatever; I'm sick of BG BS.
Those budget cuts will also escalate each year across the next decade, forcing many key Massachusetts industries that rely on federal funding - including defense contractors, hospitals, and universities - to reckon with a new fiscal reality.
You, GET IT, Americans?
Why are you NOT IN THE STREETS like the REST of the WORLD?
The Bay State may feel the impact more than others because it enjoys an outsized allotment of funding, racking up $31.4 billion in federal contracts and grants in the last fiscal year, the ninth-highest in the country, according to US government data....
Take it all back and plow it into Social Security and Medicare.
The Massachusetts economy benefits from a disproportionately large amount of federal spending to state defense contractors, like Raytheon Co. and its subsidiaries, as well as from National Institutes of Health research spending, a boon to the state’s hospitals, universities, and biotech industry.
I find it SO SAD that the ALLEGEDLY "liberal, antiwar" state is SO DEPENDENT on the MILITARY MACHINE!
Andre Mayer, senior vice president of research at Associated Industries of Massachusetts, the state’s largest business trade group, said questions remain about how Medicare cuts, for example, will affect the state. Massachusetts has, on average, an older population than most other states, putting some hospitals at a disadvantage.
You are reading the irate opinions of one.
Massachusetts also has a higher student population than many other states, Mayer said. The proposed budget plan includes efforts to eliminate subsidized loan programs for graduate students and loan-repayment incentives....
It's an education in its way, kids.
Robert A. Baker, president of the nonprofit Smaller Business Association of New England, said Raytheon and its Massachusetts subsidiaries, as well as companies like General Dynamics and General Electric Co., help anchor the state’s economy.
Related:
"General Electric Co. has drawn sharp criticism for paying zero taxes, despite earning more than $14 billion last year"
What do you mean GE got a $3.2 billion tax "refund?"
Also see: State Street Stealers
State Street is Boston's Wall Street.
For example, about 1,500 small New England businesses supply Raytheon alone, he said, and those companies are all closely watching the budget debate.
“You have to worry about it,’’ Baker said of the budget cutbacks. “Since Raytheon is such a prolific employer in the state, I’m sure everybody is going to look at the proposal and think, ‘How is it going to affect me?’ ’’
Thermo-Craft Engineering in Lynn, a 45-employee company that supplies specialized parts to two federal defense contractors and to the Patriot missile program, has already seen business slow down as a result of the budget battles....
The poor, poor war profiteers!
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Related: Potential Medicare payment cuts alarm doctors, hospitals
The Globe put a wall up, so f*** 'em.
If you can scale it you can see Sen. Jon Kyl say the cuts amount to the destruction of the US military, "The phrase Armageddon was used.... the knowing destruction of the US military as a means to threaten Congress."
Uh-huh. And then he voted for it anyway!
Related: Debt Deal Gives Pentagon $50 Billion Raise
Yeah, the "cut" was more than the Pentagon wanted.
And NO MONEY PROBLEMS HERE:
Romney breaks silence on debt issue, opposes compromise plan
"Large donations fill Romney group’s coffers
WASHINGTON -A pro-Romney committee, raised $12.3 million in the first half of the year....
Much of Romney’s support came from the financial industry, which had been a cornerstone of Obama’s fund-raising during his 2008 presidential campaign. Wall Street investors also were big contributors to the pro-Romney independent group.
Hedge fund manager John Paulson, who made money during the financial crisis betting against subprime mortgages, was one of four $1 million donors to the Restore Our Future PAC....
As his company was selling them.
Watch: Inside Job
So one of Romney's major backers is a Wall Street fraudster?
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Related: Obama raising even MORE cash from Wall St. than in 2008
Obviously, banks own this government.
