Friday, May 28, 2010

Can't You Feel the Powerful Thrusts of the Obama Recovery?

Market Recap: DJIA Suffers Worst May Performance in 70 Years: "...stocks finished the month of May with a resounding thud... disappointing reports on consumer spending and Chicago-area business activity only served to exacerbate the bleak mood. In fact, the Dow Jones Industrial Average tumbled 7.9% for the month, marking its worst May performance since 1940..."

Housing Starts: check out the green shoots.

Endless Unemployment (aka "Welfare"): "...the government just passed yet another $79 billion stimulus bill, extending unemployment benefits and restoring expired tax breaks. The net cost to the deficit: around $30 billion. This really is a drop in the bucket: so far in fiscal 2010, the US budget has already spent over $107 billion on unemployment benefits, and $30 billion is less than the government raises in one of its three biweekly coupon auctions. On the other hand, when Obama next wonders why nobody in America works any more, he may want to reevaluate that 6 million unemployed people in the US are now encouraged to be on government payrolls for two years."

Chicago PMI (Purchasing Manager's Index) Shows Economy Getting Crushed: Prices Paid, Backlogs, Employment And Inventories At 2010 Lows - The monthly measure of U.S. business conditions, based on surveys of purchasing managers, is disastrous.

ObamaCare in action: California health insurers raising rates 12% to 23% to prepare for DemCare: "Small businesses across the country are getting hammered by rising medical insurance costs. Blue Shield of California is jacking up rates as much as 76%..."

"We don't have that money," said Ann Terranova, a San Francisco financial planner who is dropping Blue Shield for herself and two employees after learning that their annual premium would jump to more than $19,000 a year from $11,000...

"Our margins will dwindle to nothing," said Bill Thomas, chief executive of U.S. Technical, an engineering firm in Fullerton. "It's the beginning of the end."

Hopefully that's an apt description of the Democrat Party.


Linked by: American Digest. Thanks!

2 comments:

Gerard said...

That one gets my "Headline of the Week Award" against stiff competition.

directorblue said...

Rimshot!