Archive for the ‘quote’ Category

Tuesday, December 4th, 2012

“I think that the Muslim Brotherhood is not anything to be afraid of,” Carter said. “They will be subsumed in the overwhelming demonstration of desire for freedom and democracy.”

Jimmy Carter, Feb 16, 2011

Look at the Muslim Brotherhood. I’ve known the Muslim Brotherhood leaders for 20 years. They were persecuted by the Mubarak government, imprisoned and so forth, and now they’ve gone to the people in an honest, fair and safe election. And, of course, they’ve prevailed because their candidate became President and they have a majority in Parliament. But they’re a very moderate group of Islamists.

Jimmy Carter

Wednesday, September 12th, 2012


“What is the POINT of democracy? You vote for someone based on lies. Campaign promises are completely meaningless…..”

Muammar Gaddafi

Friday, September 7th, 2012


In August, two months ahead of the presidential election ahead of which this number will be one of the most critical and talked about, the US generated just 96,000 non-farm payroll jobs, on expectations of 130K additions, and compared to the July number of 163,000, now revised to 143,000K. Private payrolls rose by a modest 103,000, much lower than the expected number of 142K, and down from July’s revised 162K. -15,000 manufacturing jobs were lost, compared to the expected +10K, and sadly just a little bit short of Obama’s recent promise to add 1 million manufacturing jobs by 2016. Finally, while the unemployment rate came lower (surprise, surprise: this is what appears in newspapers) at 8.1%, far lower than expectations of 8.3%, and below last month’s 8.3%, the broad total underemployment rate (U-6) continues to be sticky at 14.7%. Birth Death added 87,000, up from July’s 52,000. The reason for the drop in the unemployment rate: labor force participation dropped to 63.5%, down from 63.7%. Oddly enough, this report leaves the NEW QE door open, even as Obama can take the accolade for a declining unemployment rate. Win-win for everyone.

Read more

Monday, June 4th, 2012

Zero Hedge

Last month, when the USDA released the latest foodstamps numbers for the month of February, there was some hope that following a third month of declines, we may just have seen the peak of US foodstamp usage and going forward we would only see the number decline. Sadly, the latest numbers refutes this: inMarch a total of 46,405,204 persons were at or below poverty level and thus eligible for foodstamps, a 79K increase in the month. Yet while many individuals have learned to game the system, and this numbers at the peak may fluctuate, when it comes to the far more comprehensive and difficult to fudge “households on foodstamps” number, there was no confusion: at 22,257,647, the number of US households receiving the “SNAP treatment” rose to an all time high, even as the benefit per household dropped to the second lowest ever. At least all these impoverished believers in hope and change have FaceBook IPO profits to look forward to. Oh wait.

Friday, June 1st, 2012

And we have NEW QE liftoff, just as we predicted yesterday: “That the ADP would miss today’s expectations of 150K is no surprise: after all as we have been explaining for a while, the only way the Fed will have a green light to proceed with NEW QE if it so chooses at the June 19-20 meeting, is if the economic data suddenly turn horrendous. Which means tomorrow’s NFP data is make or break: in fact, as far as markets are concerned, the worse the better – should a -1,000,000 NFP print come in, stocks will soar.”It may take a little while for the realization to soak in. The actual number of +69,000 was a massive miss to both the expectation of 150,000, and the whisper number 100,000, and a drop from the massively revised April 77K, which was 115K before. And that is with a 204,000 addition from Birth Death. Just a total disaster for Obama who has decided to sacrifice the perception of an improving economy just so he can give Bernanke a green light to goose the stock market.

Zero Hedge

Wednesday, May 23rd, 2012

Jonesin’ For A Soda

The tongue is a discerning instrument; in the hands of a traveled soda aficionado, it is capable of leading to insightful truths about agricultural geopolitics. To those who have drunk foreign sodas, this truth stems from the peculiar yet incontrovertible fact that American soda is awful.

Though some blame this phenomenon on the use of aluminum cans over glass bottles, even the most elegant dress won’t make a homely girl comely. Instead, to the trained tongue, the answer is clear: American soda is sweetened with artificial-tasting high-fructose corn syrup, while foreign sodas are made with natural cane sugar. Why would the American public accept such a mediocre substitute?

Whenever the public doesn’t get what it wants and consumer demand is subservient to corporate interest, the first place we ought to look is government policy.

Friday, May 18th, 2012

Zero Hedge

The fact that GM’s “stunning” car sales have been in no small part driven exclusively by its eagerness to stuff dealers with unsold inventory, aka channel stuffing, is well known to Zero Hedge readers – we have been covering the subject for over a year now. What we did not know, yet what in retrospect is so glaringly obvious, is that the GM ploy of fooling the dumbest sellside analysts and investors all the time has now gone global. And while channel stuffing may have worked for a while, it is now starting to bite back. Bloomberg reports: “Chinese dealers are struggling with the rising number of unsold cars that’s threatening to deepen price cuts, according to the nation’s biggest automobile dealers’ association. Dealerships for Honda Motor Co., Chery Automobile Co., BYD Co. and Geely Automobile Holdings Ltd.carried more than 45 days of inventory as of the end of April, exceeding the threshold that foreshadows debilitating price cuts, Su Hui, vice president of the auto market division at the state-backed China Automobile Dealers Association, said in an interview yesterday. Unsold cars are crowding dealer lots in cities from Guangzhou in the south to Xi’an to the west,” Su said in a phone interview yesterday from Beijing. “It’s like a contagious disease that will spread.” Wait, so Channel Stuffing is… bad? And if 45 days of inventory “foreshadows debilitating price cuts”, then what should GM with its 86 days of full vehicle days supply in the US say?

Thursday, May 3rd, 2012

“Toronto boasts the most oversupplied condo market in the country, according to Sheryl King, an economist with Bank of America Merrill Lynch. Back in October, she calculated just how many units are set to hit the market. If builders in Toronto stopped developing entirely and merely completed projects that are already scheduled and underway, there would be enough units to supply the market for five years. “We have data going back to the early 1980s, and we’ve never seen that big of a building wave before,” King says. The rate at which the condos are being sold is running at about twice the pace of natural household formation, which indicates investors are scooping up a sizable portion of them. King estimates investors hold anywhere between 40% and 60% of pre-construction units. “Investors are not recognizing that there is this glut of inventory coming on the market,” she says.”

Prediction: The Toronto Housing Market Will Crash

Friday, March 2nd, 2012

Think Apple is the only thing allowed to hit new records every month? Think again: presenting iFoodstamps – the number of Americans living in poverty (or at least doing a damn good job of fooling the government in pretending they do). As of December, per SNAP this number just hit another record high of 46.5 million, an increase of 384,000 in one month (and ending the trend of declines from October and November), 2.4 million in 2011 (about as many as have dropped out of the Labor force, hmmmm), and 14.3 million since Obama took office.

**Zero Hedge

Friday, November 4th, 2011

“Fathom the hypocrisy of a Government that will require every citizen to prove they are insured, but not everyone to prove they are a citizen!” author unknown

**Curmudgeonly & Skeptical

Wednesday, August 24th, 2011



“If the US Government was a family, they would be making $58,000 a year, yet they spend $75,000 a year, and have $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget and debt, reduced to a level that we can understand.”
-Dave Ramsey

Tuesday, August 2nd, 2011


Ol Remus:

As Remus told you in Woodpile Report 8, nobody really judges a person solely by the color of their skin, at least nobody he’d wanna know. Martin King was right when he said we should judge people by the content of their character.

So let’s do some judging.

We form entirely reasonable opinions by observing ordinary things about other people. For instance, are they considerate, courteous and pleasant or are they obnoxious, confrontational and crude? Do they dress to an acceptable standard, or wear offensive costumes? Are they thought well of, or are they habitual troublemakers?

Are they dependable and honest, or untrustworthy and criminal? Are they reasonably intelligent and inquisitive, or ignorant and incurious but deviously clever? Are they sociable and cooperative, or consumed with self interest? Do they speak intelligibly, or use gang slang? Can they disagree without insults, threats or violence?

Are their kids well behaved, or foul-mouthed junior street thugs? Do they value education, or are schools just their free day care? Are they self-reliant, or does the world owe them a living? Do they take personal responsibility, or is somebody else always to blame? Do they give others the benefit of the doubt, or do they see others as cunning victimizers?

Are they truthful about their personal history, or is it a pastiche of self-serving fantasy? Do they plan for the future, or lunge at short-term payoffs? Do they earn respect, or demand it? Do they believe race is irrelevant, or do they use race to extort preferences?

King had it right, judging people by the content of their character is reasonable and just. We should do more of it.