Economy

It was a “Dark Night” in Aurora


It was a “dark night” when a heavily armed man entered a movie theater in suburban Denver early Friday and opened fire, killing at least 12 people and injuring 58 others. Mayhem, weeping and mourning followed.

The incident, which took place, about 12:30 a.m. at the Century 16 movie theater in Aurora, Colo., occurred during midnight screenings of the new Batman film “The Dark Knight Rises.” The shooter has been identified as James Holmes.

“Blessed is the man
Who walks not in the counsel of the ungodly,
Nor stands in the path of sinners, Nor sits in the seat of the scornful;
But his delight is in the law of the Lord,
And in His law he meditates day and night.
He shall be like a tree
Planted by the rivers of water,
That brings forth its fruit in its season,
Whose leaf also shall not wither;
And whatever he does shall prosper.

 The ungodly are not so,
But are like the chaff which the wind drives away.
Therefore the ungodly shall not stand in the judgment,
Nor sinners in the congregation of the righteous.

For the Lord knows the way of the righteous,
But the way of the ungodly shall perish” (Psalm 1).

‘Occupy Wall Street’ continues despite GOP bashing


Wall Street, Manhattan, New York, USA

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Critics continue to bash Occupy Wall Street protesters. Dismissing the 99% as a group of haters of the rich–lazy trouble makers who are against capitalism. There are even documented cases of police brutality. But the more criticisms the group gets, the bigger the movement become.

Most of the harsh and sometimes baseless criticisms which the group gets come from  the GOP, no surprise there. From the little known conservative blogger, to nationally acclaimed media houses–online, Broadcast, radio, and print, to those who seek political office, straight up to members of Congress.

Recently, for example,  Republican nominee hopeful, Herman Cain, said he believes the protesters were planted and that they were “jealous’ Americans who “play the victim card” and want to “take somebody else’s” Cadillac. And to add insult to injury, House minority leader, Eric Cantor, called the group a mob.Watch the video http://youtu.be/_vNZeLKy-jg

How quickly we have forgot that it was greed on Wall Street that sent the US and the world economies tumbling over the edge of the cliff. Lack of meaningful regulations during the Bush years, gave Wall Street license to engage in all kinds of shady investment and illegal practices. The kind that would have landed an ordinary citizen in jail, perhaps for life. Yet, to date, not one Wall Street firm has been charged.

So, now is not the time to bash 99%. This is a group of people who genuinely love their country. But the group has  real concerns like most Americans, especially in these tough economic timesThey should be listened to, because many of them, perhaps all, do not have a job, and they have looked for a very long time.  They see no light at the end of the tunnel. They have lost faith in a political system that bailed out the rich and dogged the rest of the population. They view our politicians as puppets of Wall Street. Hence, they take to the streets to remind unscrupulous politicians that power is in the hands of the people.

Apple co-founder Steve Jobs has died.


ABC: Steve Jobs, the mastermind behind Apple’s iPhone, iPad, iPod, iMac and iTunes, has died, Apple said. Jobs was 56.

“We are deeply saddened to announce that Steve Jobs passed away today,” read a statement by Apple’s board of directors. “Steve’s brilliance, passion and energy were the source of countless innovations that enrich and improve all of our lives. The world is immeasurably better because of Steve. His greatest love was for his wife, Laurene, and his family. Our hearts go out to them and to all who were touched by his extraordinary gifts.”

The homepage of Apple’s website this evening switched to a full-page image of Jobs with the text, “Steve Jobs 1955-2011.”

Statement from the President: Michelle and I are saddened to learn of the passing of Steve Jobs. Steve was among the greatest of American innovators – brave enough to think differently, bold enough to believe he could change the world, and talented enough to do it.

By building one of the planet’s most successful companies from his garage, he exemplified the spirit of American ingenuity. By making computers personal and putting the internet in our pockets, he made the information revolution not only accessible, but intuitive and fun. And by turning his talents to storytelling, he has brought joy to millions of children and grownups alike. Steve was fond of saying that he lived every day like it was his last. Because he did, he transformed our lives, redefined entire industries, and achieved one of the rarest feats in human history: he changed the way each of us sees the world.

The world has lost a visionary. And there may be no greater tribute to Steve’s success than the fact that much of the world learned of his passing on a device he invented. Michelle and I send our thoughts and prayers to Steve’s wife Laurene, his family, and all those who loved him.

John Boehner Jobs Plan Rules Out Tax Increases


John Boehner

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Once again, Speaker John Boehner and the GOP, have shown their disdain and disregard for the middle class and the poor. The GOP took over full control of the US House of Representatives in the 2010 elections, because they campaigned on job creation and spending cuts. But to date they have not done anything–absolutely nothing to create jobs or to alleviate the pain and suffering of the poor and needy. The only thing Mr. Boehner and his colleagues have done thus far is to oppose everything president Obama proposes and blame him for a bad economy.

On Thursday September 15 2011, Speaker Boehner presented his so-call jobs bill to the nation, in form of an address to the economic club of Washington. He called Obama’s plan to create jobs, which comprises a mix of tax incentives and state-targeted spending, a “poor substitute” for policies he,  Mr. Boehner views as more effective.

He continues to say; “Private-sector job creators of all sizes have been pummeled by decisions made in Washington. They’ve been slammed by uncertainty from the constant threat of new taxes, out-of-control spending, and unnecessary regulation from a government that is always micromanaging, meddling, and manipulating,” said Boehner. “They’ve been hurt by a government that offers short-term gimmicks rather than fundamental reforms that will encourage long-term economic growth.”

Boehner went on to say:

“It’s a very simple equation. Tax increases destroy jobs. And the Joint Committee is a jobs committee. Its mission is to reduce the deficit that is threatening job creation in our country,” essentially pouring cold water on president Obama’s jobs bill which according to the CBO would create approximately 1.9 million jobs,  plus provide tax incentives for small and large business as well as extending unemployment benefits and provide tax cuts for struggling American families.

There shouldn’t be any  doubt whatsoever that the GOP is willing to negotiate in good faith– to ease the pain and suffering taking place in the richest country in the world.

In its response to Speaker Boehner’s speech, the White House through Jay Carney declares:

“Any plan to grow the economy and create jobs should be measured by whether it puts money in the pockets of middle class families, puts teachers, police officers, firefighters and construction workers back to work, and invests in our small businesses so they can grow and hire. The President’s plan meets that test. The American Jobs Act includes the kinds of proposals that have been supported in a bipartisan way in the past, is fully paid for, and prominent, independent economists say it could create between 1.5 and 2 million jobs. And the President’s plan rebuilds the economy the American way, based on balance, fairness and ensuring there is the same set of rules for everyone from Wall Street to Main Street. The President is committed to working with members of both parties in Congress to pass the American Jobs Act right away.”

Bad Economy: Who should be blamed?


President George W. Bush stands with Federal R...

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There is much talk coming from both the right and the left, as well as from the Tea Party and Independents that the country’s economic woes is a direct result of president Obama’s failed economic policies. But nothing could be further from the truth. This is a lie crafted and perpetrated by Republicans to divert blame from the banks.

So, all this talk that Obama care is a jobs killer, Obama is destroying the country and his economic policies do not work are all exaggeration. In fact, nobody is Yet to put forward any credible evidence to support these claims. This is nothing but political rhetoric aimed to cloud the minds of people who do not check the fact for themselves.

Yes, the country is going through tough economic times and everybody is expecting their president to do something that will ease the pain and suffering. And when that does not happen and people gets frustrated they blame the president. But when the political rhetoric coming from the right is peeled back we will see that the up and down swings in the stock market is directly related to what is going on in Europe.

I am sure we can all remember what happened to our economy in September of 2008. It collapsed and caused a worldwide recession which we are still recovering from. We now know that the worldwide recession was due to shady banking and trading practices by Wall Street. The economy was so bad that all the major banks on Wall Street was in jeopardy of failing. In fact, Lehman brothers did fail and set off a domino effect.

On September 16,2008 Paulson teamed up with the Fed’s Ben Bernanke to engineer the $85 billion federal bailout of AIG. And On Sept. 19 2008, Henry Paulson, then Secretary of the Treasury told the nation that “hundreds of billions of dollars” $700 billion— their dollars — were needed to “be big enough to make a real difference and get at the heart of the problem and “stabilize the system.” This is on top of the estimated $200 billion in capital and credit lines committed by Paulson to Fannie Mae and Freddie Mac — capital that he promised he wouldn’t be injecting into those two government-sponsored entities in August ( “We have no plans to insert money into either of those two institutions.”)

So, when president Obama took office he inherited an economy that was over the cliff. The country was losing thousands of jobs monthly and banks and businesses were folding in great numbers. The country was in a recession and the data now shows that it was the worst economy any president has ever inherited since The Great Depression of the 1930s.

There is nothing in any of the legislations passed under the Obama administration that one could truthfully say is killing jobs. yet, even many in the media are repeating this lie that Republics have crafted. (click on link http://thomas.loc.gov/cgi-bin/bdquery/L?)