Archive for the ‘Economy’ Category

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Consumer Spending During ‘Black Friday Weekend’ Falls $1.7 Billion From a Year Ago

Monday, December 2nd, 2013

Thank Obama...Christmas Sales Down, Thanks Obama –Image: Accuracy in Media

(NY Times) It was a cold, clear day in Leesburg, VA and a Security Guard at am outlet mall there said the midmorning crowd was smaller to that of a typical Friday but an ordinary day it was not. It was ‘Black Friday’ traditionally the biggest shopping day of the year.

With the nations economy stumbling along and consumer confidence hitting a 7 month low in November ‘Black Friday Weekend’ itself the seasons customary kickoff is looking a bit gloomy.

Christmas shopping generally accounts for 20 t0 40% of a retailers annual sales and ‘Black Friday Weekend’ typically represents 10 to 15% of those sales.

Over the course of the weekend, Consumers spent $1.7 Billion less on Christmas shopping than they did just a year ago, according to the National Retail Federation.

According to Yahoo/Finance retailer got Americans into stores over the weekend but failed to motivate them to spend. A record 141 million people were expected to shop in stores over the four day weekend ending yesterday up from last years 137 million but total spending was expected to fall ‘for the first time ever’ since the National Retail Federation began tracking the numbers since 2006

Posted in Barack Obama, Christmas, Economy, Obama Administration | No Comments »

U.S. Banks Warn Federal Reserve Interest Rate Cut May Result Costing You a Fee to Hold Your Money

Monday, November 25th, 2013

Teach Children to Save --Montecito Bank & TrustTeach Children to Save Day! –Image: Montecito Bank & Trust

(Business Insider) It may seem outrageous however bank customers may soon have to anticipate being charged to keep their money in U.S. Banks according to Market Watch should the Federal Reserve reduces what it pays banks on the excess reserves–that is, reserve amounts over the minimum that the Fed requires held in the central bank.

Banks have said this is the side-effect of the Federal Reserve Quantitative Easing strategy that began during Obama’s Watch in March, 2009 to keep interest rates at historically low rates believing that this would spur investment and consumption, thereby increasing employment.

How’s Obama’s central planning working out for you?

Related: Quantitative Easing–You’re Soaking In It –CATO

Posted in Barack Obama, Economy, Obama Administration | No Comments »

ObamaCare Price So Far: $4.4 Billion to Set Up State Exchanges, More Cancellations Than Sign-Ups & Recession Fears

Friday, November 15th, 2013

ObamaCare Promiscuity AdObamaCare Disgraceful Promiscuity Advertisement
Image: SassiN@Twitter

(ATR) According to data compiled by Americans for Tax Reform the Obama Administration has spent $4.4 Billion of taxpayers money on state ObamaCare websites $910,605,370.00 in California alone which has seen more than 1 Million health insurance cancellations and a mere 35,000 sign-ups for ObamaCare/Covered California.

Twelve weeks from today on the 07 February, 2014 Breitbart News reports the U.S. Govt will hit its borrowing authority. When Congress lifted the debt ceiling last month, for the first time ever, it pegged the increase to a specific date rather than a dollar amount the current federal deficit today is $17.1Trillion which is contributing to our anemic economy, a record low worker participation rate and rattling Consumer confidence heading into the busiest shopping season of the year, a ‘make or break time’ for many business.

According to Zero Hedge Americans plan on spending 10% less for Christmas gifts this year than last year. During Obama’s Watch, Americans are spending on average 19% less than they spent in 2007 and 18% less than they did in 1999 The last two times the November forecast for holiday spending slumped, the U.S. entered into a recession.

Posted in Barack Obama, California, Economy, Obama Administration, ObamaCare | No Comments »

Obamanomics: Where Are All Them Promised Jobs? 932,000 Americans Drop Out of Labor Force

Saturday, November 9th, 2013

Obamanomics 2013ObamaCare is Turning Us Into a Part-Time Nation –Forbes

(Zero Hedge) Obamanomics continues to take a big and bigger toll on the nations anemic economy. According to the Bureau of Labor Statistics data released yesterday, 932,000 Americans dropped out of the labor force in October to a record 91.5 Million, the third highest monthly increase in U.S. history.

Further illustrating the failures of Obamanomics on the weakening economy, the labor participation continues on its downward spiral from 63.2% in September to 62.8% today.

Flashback: Remember back in April, 2010 when VP Joe Biden claimed the economy soon would be adding 500,000 per month thanks to Obama’s stimulus.

Where are all of them promised jobs?

Crickets Chirping…

Posted in Barack Obama, Economy, Joe Biden, Obama Administration, ObamaCare | No Comments »

California Non-Profit Corp Drops Employee Health Insurance Due to ObamaCare

Friday, November 8th, 2013

ObamaCare Steve JobsObamaCare Website Failures Explained –Seth@Twitter

(KRCR TV) Ninety employees of California Vocations a state funded non-profit corporation that supports adults with developmental disabilities, learned that their health insurance with Blue Shield will be terminated at the end of the year.

California Vocations Executive Director Bob Irvine says its been frustrating for the organization and its employees–Irvine said the organizations Board of Directors canceled its policies because the new Obama regulations forced it to purchase more expensive  policies that it simply can not afford.

“That would have been another $250,000” said Irvine.

Instead, its cheaper to pay a $100,000 per year fine tax for not providing health care insurance saving the company $150,000 per year by canceling the policy.

Employees are left to fend for themselves, thanks to ObamaCare.

Related: Most Uninsured Lack Interest in ObamaCare Exchanges

Posted in Barack Obama, California, Economy, Health Care Costs, Obama Administration, ObamaCare, Tax Hikes | No Comments »

Obama’s Watch: 3 Million More People Living in Poverty Than ‘Official’ Govt Count

Wednesday, November 6th, 2013

Obama's WatchObama’s Watch: Million More Living in Poverty –Roy Rogers@Twitter

(AP) The number of poor people in the United States is 3 Million higher than the official count.

CENSUS POVERTY

This new measure is aimed at providing a fuller picture of poverty in America but doesn’t replace the “official” numbers, put in place two years ago by the Obama Administration to skew the facts and create the illusion that poverty has been falling during Obama’s Watch.

Posted in Barack Obama, Economy, Obama Administration | No Comments »

If Federal Taxes on Cigarettes Deters Smoking, Does Federal Taxes on Earnings Deter Working?

Tuesday, October 22nd, 2013

Tax IncreasesTaxes & Economic Prosperity –Image: Lana Wong@Facebook

Posted in Economy, Tax Hikes | No Comments »

Obamanomics: Record 90 Million+ Not in Labor Force 154,000 Fewer Women Employed, 24 Yr Low

Tuesday, October 22nd, 2013

Obama Transforming AmericaObama Transforming America –Image: Andrew Luck@Twitter

(CNBC ) September’s jobs report was ‘significantly worse than expected’ 58% of the total 148,000 jobs gained were Truck Drivers, Bureaucrats, Sales Associates and Temps according to Tyler Durden at Zero Hedge. Personal income grew little during the past month, average hourly earns were up a paltry .03 cents with the average work week at 34.5 hours.

Women participated in the labor force at the lowest level in 24 years in September according to CNS News with 154,000 fewer Women in the labor force compared to the previous month–the number of Americans 16 years of age or older not participating in the nation’s work force climbed steeply in September to a record 90,609,000 an increase of 136,000 over the previous month. Despite all of the dismal economic news, the way the Obama Administration now calculates unemployment, the nation’s jobless rate fell to 7.2% or to the lowest since November, 2008

Related: The Big Takeaway From Sept Jobs Report: Economy is Stalling

Posted in Barack Obama, Economy, Obama Administration | No Comments »

Obama’s Watch: 15% of Young People Out of School and Work

Monday, October 21st, 2013

Hoax-and-Chains

(AP) Almost 6 Million young people (ages 16-24) are neither in school or working, according to a new study by The Opportunity Nation Coalition released today.

On the 18 October, I wrote here that in Los Angeles County, joblessness and poverty is a growing problem for both young people and Asian Americans during Obama’s Watch.

Other studies have shown that young adults are missing out on a window to build skills they will need later in life or use the knowledge they acquired in college. Without those experiences, they are less likely to command higher salaries and are more likely to be an economic drain on their communities.

Posted in Barack Obama, California, Economy | No Comments »

Only in Los Angeles: Democrats Propose Setting Up a Commission on Voter Apathy

Friday, October 18th, 2013

Voter Apathy

(KPCC) With many more serious problems in Los Angeles such as double digit unemployment and poverty for young adults and Asian Americans one would think that Los Angeles City Council President Herb Wesson formerly Democrat Speaker of the California Assembly, would have better things to do with his time than introducing a resolution this week to tackle voter apathy in citywide elections.

Democrats with maybe just a little too much time on their hands, may be looking at the low voter turnout issue all wrong. It just may be as result of no confidence in the revolving door politicians that never really leave public office such as Herb Wesson being termed out in the California Assembly in 2004 he has since, continually been a member of the city council and doesn’t seem to have any higher ambitions than the next election.

In September, Gallup released a survey that showed Americans ‘trust in the American people” to make judgments about political issues facing the nation has declined in recent years but is still considerably higher than the confidence one has in politicians.

Posted in California, Democrats, Economy, Loony Liberal Lefties | No Comments »

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