AND I QUOTE NANCY PELOSI…

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And I quote Nancy Pelosi:

“God bless them for their spontaneity. It’s young, it’s spontaneous, it’s focused and it’s going to be effective.”

Continued

SOURCE: http://cnsnews.com

GREECE ANYONE?

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Terry List, a teacher in Saginaw Township, Mich., has a depressing lesson for her students: “I would not recommend to my pupils to become a teacher in Michigan.”

What’s discouraging her? A proposed pension-reform bill in Michigan would derail her plans to retire — at age 47.

After these rapacious reforms, List would have to work another 16 years, to age 63, in order to earn her retiree health-care benefits. “I understand we have to tighten our belts,” she laments, “but we don’t have to use a tourniquet and cut off the blood supply entirely.” Under the reforms, such a tourniquet means she could still retire now and have a guaranteed income for the rest of her life, but she’d have to pay for her own health care until age 65 — like, you know, most Americans.

Continued

SOURCE: http://www.nationalreview.com

THE KING OF CRAP SPEAKS AGAIN

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The king of crap speaks again. Now they are trying to make you believe this President has nothing to do with the massive deficits. Oh yeah…election year combined with the fact they think you are dummies! Read this: 

Disappointing GDP number — we’re not growing fast enough to make any significant headway on reducing the output gap — but hey, no need for further Fed action.

But let’s talk right now about fiscal policy. I wrote this morning about our de facto austerity. Here’s another indicator. Look at government (all levels) purchases of goods and services, that is, actually buying stuff as opposed to transfer payments like Social Security and Medicare. 

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SOURCE: http://krugman.blogs.nytimes.com

THIS SPEAKS FOR ITSELF…

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Yes…these are our government officials. Don’t worry that these mean, nasty oil and gas companies employ tens of thousands of hard working Americans. This speaks for itself…an administration that picks and chooses winners and losers…and those they don’t like? Just use the bully pulpit to slam them. Hey…let’s just vote these people for another four years.  Read this…

“…Sen. James Inhofe (R-OK) took to the Senate floor today to draw attention to a video of a top EPA official saying the EPA’s “philosophy” is to “crucify” and “make examples” of oil and gas companies – just as the Romans crucified random citizens in areas they conquered to ensure obedience.

Inhofe quoted a little-watched video from 2010 of Environmental Protection Agency (EPA) official, Region VI Administrator Al Armendariz, admitting that EPA’s “general philosophy” is to “crucify” and “make examples” of oil and gas companies…”

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SOURCE: http://cnsnews.com

 

SOME NUMBERS ON APPLE…WOW!

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Some numbers on Apple…wow!

Earnings:

  • Apple had net income of $11.6 billion on revenue of $39.19 billion. Earnings per share were $12.30 (versus Street analysts consensus of $10.06 per share, $9.52 billion in profits on revenue of $36.8 billion);
  • Profits rose 94%; revenues gained 58.9%for Q1
  • Apple’s cash = $110.2 billion at end of Q1 (up from $97.6 billion at year’s end)
  • ~$74 billion of Aple’s cash is held offshore.
  • Gross margin rose to 47.4% from 41.4% a year earlier.
  • Apple has beaten Wall Street’s consensus estimates in 16 out of its last 17 quarters;
  • Apple has 360 million cumulative iOS device sales.

iPhones:

  • Apple sold 35.1 million iPhones — up from 18.65 million units a year ago.
  • iPhones (+ ecosystem) are 57.9% of Apple’s sales, up from 52.7% prior Q.
  • iPhones are now available in more than 100 countries and at 230 wireless carriers (versus 90 countries and 186 carriers a year ago).
  • iPhone sales in Asia Pacific doubled.

iPad:

  • iPad sales were 11.8 million units — up more than 150% from a year ago.
  • Since its launch two years ago, Apple has sold 67 million iPads (Tim Cook: “It took us 24 years to sell that many Macs, and five years to sell that many iPods, and over three years for that many iPhones.”)
  • iPad channel inventory was about 2 million at the end of the quarter, which is below the company’s target range of 4-6 weeks of iPad inventory.
  • App Store has 600,000 apps, 200,000 of them specifically for iPad.

Everything else:

  • China accounted for $7.9 billion of revenue — about 20% of Apple’s total; this is a 300% gain from year ago levels.
  • Two years ago, Apple sales in China were 2% pf total.
  • Apple sold 4 million Macs during Q, up 7% vs Q1 2011;
  • iPod sales were 7.7 million units, down 15% vs Q1 2011;
  • iTunes sales = $1.9 billion Q1 — an annual run rate of about $8 billion per year (up 35% year over year).
  • Retail store revenues jumped 38% from 2011 Q1;
  • 24th straight Q that the Mac has outgrown the broader PC market.
  • Non Mac PC shipments in the United States totaled 15.5 million units in the first three months of 2012, representing a 3.5 percent decline from the same period last year

I AM STUNNED!

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Oh joy! And you all thought things have changed…that these people learned their lessons of too much derivatives. You all thought the regulators did something about this enormous blob of #%&#@. Of course, according to these masters of the universe, everything is under control. Go check out the underlying numbers on these opaque instruments. I am stunned! 

LONG STORY: A derivative is a legal bet (contract) that derives its value from another asset, such as the future or current value of oil, government bonds or anything else. Ex- A derivative buys you the option (but not obligation) to buy oil in 6 months for today’s price/any agreed price, hoping that oil will cost more in future. (I’ll bet you it’ll cost more in 6 months). Derivative can also be used as insurance, betting that a loan will or won’t default before a given date. So its a big betting system, like a Casino, but instead of betting on cards and roulette, you bet on future values and performance of practically anything that holds value. The system is not regulated what-so-ever, and you can buy a derivative on an existing derivative. 

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SOURCE: http://demonocracy.info

I THOUGHT SOME OF THESE NUMBERS WOULD HAVE BEEN WORSE!

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MUNCIE, Ind.—Johnny Whitmire shuts off his lawn mower and takes a long draw from a water bottle. He sloshes the liquid from cheek to cheek and squirts it between his work boots. He is sweating through his white T-shirt. His jeans are dirty. His middle-aged back hurts like hell. But the calf-high grass is cut, and the weeds are tamed at 1900 W. 10th St., a house that Whitmire and his family once called home. “I’ve decided to keep the place up,” he says, “because I hope to buy it back from the bank.”

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SOURCE: http://www.nationaljournal.com

IT IS ALMOST LIKE TOM FRIEDMAN LIVES IN ANOTHER WORLD!

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DO THESE PEOPLE JUST MAKE THINGS UP AS THEY GO ALONG? DOES THIS MAN NOT KNOW WE HAVE $16 TRILLION IN DEFICITS? DOES THIS MAN NOT KNOW THAT JUST ABOUT EVERY MAJOR INITIATIVE GOVERNMENT HAS STARTED IS OR WILL BE INSOLVENT? DOES THIS MAN NOT KNOW WE HAVE MORE GOVERNMENT REGULATIONS ON THE BOOKS THAN EVER BEFORE? DOES THIS MAN NOT KNOW THERE ARE MORE LAWS ON THE BOOKS THAN EVER BEFORE? DOES THIS MAN NOT KNOW GOVERNMENT IS NOW INVOLVED IN EVERY FACET OF OUR LIFE BECA– USE THEY THINK THEY KNOW BETTER? IT IS ALMOST LIKE TOM FRIEDMAN LIVES IN ANOTHER WORLD! READ THIS: 

DOES America need an Arab Spring? That was the question on my mind when I called Frank Fukuyama, the Stanford professor and author of “The End of History and the Last Man.” Fukuyama has been working on a two-volume opus called “The Origins of Political Order,” and I could detect from his recent writings that his research was leading him to ask a very radical question about America’s political order today, namely: has American gone from a democracy to a “vetocracy” — from a system designed to prevent anyone in government from amassing too much power to a system in which no one can aggregate enough power to make any important decisions at all?

Continued

SOURCE: http://www.nytimes.com