Friday, February 19, 2010

INFLATION TAKES OFF AS JOBLESS NUMBERS SOAR

New reports out yesterday show that inflation rose on an annualized rate of almost 17% in December.  At the same time, new unemployment claims rose to over 470,000 last week, (that’s a rate of over 2,000,000 per month) and Administration figures show that only 95,000 jobs are being created per month, many of which are temporary. 

COMMENTS:
In the meantime, Obama took to the cameras again to proclaim that his actions have saved the country and the recession is just about over. He evidently still needs a glass stomach so he can find his way around.


TODAY’S QUERIES & ANSWERS:
Q. I heard about a coordinated global attack on computers yesterday. What’s the skinny? (Bob ~ Susanville, CA)
A. Preliminary reports are that the hacking "exposed vast amounts of personal and corporate secrets” and involved nearly 2,500 companies and government agencies over the last 18 months.
The hackers are centered in Europe and China, and have apparently absconded with loads of customer data and business intellectual property. Everything from credit card information to contracts and trade secrets appears to have been run off with. Evidently, they have had their own style of “stimulus plan.”

Q. What about that plane that crashed into an IRS building in Austin, Texas yesterday? Do you think it really could have been a terrorist act? (Gigi ~ Waco, TX)
A. Look at it this way. The odds of a plane having some kind of legitimate malfunction and crashing into an IRS office are extremely slim. That being said, it sounds more like a disgruntled ex-employee or taxpayer than a terrorist plot to me. If it had been a real terrorist, he probably would have loaded the luggage compartment with dynamite or some other highly explosive substance. He also posted a note on the Internet making it very clear that he had problems with the IRS. Nevertheless, look for Obama to make a statement that “the system worked just fine.”

Q. Now there is another looming catastrophe that involves pension funds? (Earlene ~ Dunsmuir, CA)
A. Yes. States may be forced to reduce benefits, raise taxes or slash government services or both to address a $1 trillion funding shortfall in public sector retirement benefits that is related to a decade's worth of bad policy decisions and declining investment incomes. It amounts to almost $9,000 for every household in the country, or at 2.5 persons per household, that would be $3,600 per person. Add that to the federal deficit share per person of $45,000 and you get the idea; we’ve all been royally screwed. I don’t know about you, but I never even had the chance to enjoy it. Good for Barack for having the audacity to smile and tell us that everything is okay now.

TODAY’S QUOTE:
“It seems to be that any time a politician tells you that they know what is best for the country, insanity ends up ruling the day.” ~ Unknown Scribbler


TODAY’S VIDEO:
http://www.youtube.com/watch?v=TJX9hftpWFk

THE OBAMA TERRORIST TRIALS - DAY 97:

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