The Mystery of the Rising Stock Market
Posted by David Hazi in General on November 6th, 2009
Here’s a puzzle: The stock markets are doing very well, yet the performance of the underlying economy doesn’t seem to justify optimism. The buoyant S&P 500 has risen 53 percent since the March bottom. And while the economy expanded at a 3.5 percent rate in the third quarter, unemployment is high, incomes are stagnant, and consumers are shaky.
It’s possible that the stock market is just getting it wrong again. After all, the markets, which are supposed to process investors’ attitudes about the future, hit record highs in October 2007, just as the U.S. economy was about to pitch into recession. But it could be that the notion the stock market is an accurate gauge of the domestic economy’s temperature is outdated.
To read the entire article click here.
I have returned
Posted by David Hazi in General on October 16th, 2009
To those of you who follow The Final Prayer on a consistant basis, I apologize for the lack of content being posted over the past two weeks. I had taken a trip to Hungary with my grandparents. I had a great time and now I am back, ready to rock out against every form of tyranny facing our once, great nation.
Unemployment for young Americans is at 52.2%
Posted by David Hazi in General on September 27th, 2009
The unemployment rate for young Americans has exploded to 52.2 percent — a post-World War II high, according to the Labor Dept. — meaning millions of Americans are staring at the likelihood that their lifetime earning potential will be diminished and, combined with the predicted slow economic recovery, their transition into productive members of society could be put on hold for an extended period of time.
Click here to view the entire article.
I really don’t understand why all these experts just cannot understand economics.
History has always told us that economic success is directly related to having output. For your economy to do well you have to produce something of wealth. In addition, having a currency that inflates faster than the population can save will eventually cause even a great nation and economy to go bankrupt. The government needs to support the growth of businesses; not by over regulating industries to try and force the market to swing in a certain direction, but by stepping out of the way and making sure businesses have lower taxes so they can hire workers and have the necessary capital to finance operations.
All the problems we are seeing now is directly related to government arrogance. Not every politician knows how to run a business. Yet every single one is willing to pretend to know how if it means large donations from giant corporations. Meanwhile, the rest of us lose our jobs and further become slaves to debt.
We print money
Posted by David Hazi in Videos on September 26th, 2009
Why does a private company named the Federal Reserve have more political power than all three branches of government?
Massive monetary crisis looming
Posted by David Hazi in Videos on September 25th, 2009
We face a massive crisis, yet we are still entertaining the idea of socialized medicine, spending more and more money in Afghanistan, and using tax payer dollars to run automotive companies. Why can’t we just stop the spending and limit it only to needs?
Indoctrination!
Posted by David Hazi in Videos on September 25th, 2009
This teacher should be fired immediately.
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Is Pelosi trying to tell us something?
Posted by David Hazi in General on September 18th, 2009
When do we the people say enough is enough? When do we decide that we will no longer be slaves to a welfare state? When do we say to those who wish to steal the fruits of our labor, we will not recognize your right to tax? When will we decide that our sons and daughters will no longer be sent to far off lands, only to be killed, for the interests of corporations?
When will we say, we will not stand for despots and tyrants? When will we say, we are not your slaves?
Republicans Denounce Pelosi for Warning Against ‘Incitement’
By Paul Kane
The House Republicans’ top campaign chief strongly denounced Speaker Nancy Pelosi’s comments th
Why medical costs are so high
Posted by David Hazi in General on September 17th, 2009
Before the advent of Medicare and Medicaid and the HMO Act of 1973, the private sector funded over three quarters of the country’s health care expenditures, individuals paid nearly one-half of total costs out-of-pocket and health care inflation was in-line with the consumer price index (CPI).
The introduction of these government insurance programs in 1967 fundamentally changed the way health care was purchased. As the government began to insert more regulation over the health care market and cover a growing percentage of health care spending, total out-of-pocket expenditures fell. Today, out-of-pocket expenses account for only 1/10 of total health care expenses.
The HMO Act of 1973 provided grants and loans to provide, start, or expand a Health Maintenance Organization (HMO); removed certain state restrictions for federally qualified HMOs; and required employers with 25 or more employees to offer federally certified HMO options. The Act gave HMOs greater access to the employer-based market, providing for the rapid expansion of HMOs and was synergistic with Medicare and Medicaid in decreasing out-of-pocket expenses.
In addition, state regulations have increased and now require health insurance companies to cover a ridiculous range of health care services including but not limited to: acupuncture, breast reduction, contraceptives, dieticians, drug abuse treatment, hair prosthesis, in vitro fertilization, massage therapy, etc. and this has had a profound effect on health care inflation. All these policies have had the net effect of changing the way Americans pay for health care services, by precipitating the change from catastrophic medical insurance to “comprehensive” health care coverage.
Polio vaccine creators and 1/3rd of British nurses say they won’t take H1N1 vaccine
Posted by David Hazi in Videos on September 15th, 2009
Just in case you guys thought I was crazy, check this out. Polio vaccine creators and 1/3rd of British nurses say they won’t take H1N1 vaccine due to the potential side effects. Not only are they refusing, they are urging friends and family members not to take the vaccine either. So please tell me again why they are doing medical testing of this vaccine on children?
Financial crisis creates gigantic cargo ship graveyard
Posted by David Hazi in General on September 14th, 2009
WOW THIS IS AN AMAZING ARTICLE! It really shows the reality of the global financial crisis.
Ah Wat says: ‘We don’t understand why they are here. There are so many ships but no one seems to be on board. When we sail past them in our fishing boats we never see anyone. They are like real ghost ships and some people are scared of them. They believe they may bring a curse with them and that there may be bad spirits on the ships.’
Just 12 months ago these financiers and brokers were enjoying fat bonuses as they traded cargo space. But nobody wants the space any more, and those that still need to ship goods across the world are demanding vast reductions in price.
Do not tell these men and women about green shoots of recovery. As Briton Tim Huxley, one of Asia’s leading ship brokers, says, if the world is really pulling itself out of recession, then all these idle ships should be back on the move.
‘This is the time of year when everyone is doing all the Christmas stuff,’ he points out.
‘A couple of years ago those ships would have been steaming back and forth, going at full speed. But now you’ve got something like 12 per cent of the world’s container ships doing nothing.’
Click here for the entire article.
Nobel Prize-winning economist: The problems are worse than they were in 2007
Posted by David Hazi in General on September 14th, 2009
Sept. 13 (Bloomberg) — Joseph Stiglitz, the Nobel Prize- winning economist, said the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers Holdings Inc.
“In the U.S. and many other countries, the too-big-to-fail banks have become even bigger,” Stiglitz said in an interview today in Paris. “The problems are worse than they were in 2007 before the crisis.”
Stiglitz’s views echo those of former Federal Reserve Chairman Paul Volcker, who has advised President Barack Obama’s administration to curtail the size of banks, and Bank of Israel Governor Stanley Fischer, who suggested last month that governments may want to discourage financial institutions from growing “excessively.”
A year after the demise of Lehman forced the Treasury Department to spend billions to shore up the financial system, Bank of America Corp.’s assets have grown and Citigroup Inc. remains intact. In the U.K., Lloyds Banking Group Plc, 43 percent owned by the government, has taken over the activities of HBOS Plc, and in France BNP Paribas SA now owns the Belgian and Luxembourg banking assets of insurer Fortis.
While Obama wants to name some banks as “systemically important” and subject them to stricter oversight, his plan wouldn’t force them to shrink or simplify their structure.
Stiglitz said the U.S. government is wary of challenging the financial industry because it is politically difficult, and that he hopes the Group of 20 leaders will cajole the U.S. into tougher action.
Click here for the entire article.
Medicare for Dummies
Posted by David Hazi in General on September 12th, 2009
The thing about the bully pulpit is that Presidents can make the most fantastic claims and it takes days to sort the reality from the myths. So as a public service, let’s try to navigate the, er, remarkable Medicare discussion that President Obama delivered on Wednesday. It isn’t easy.
Mr. Obama began by depicting a crisis in the entitlement state, noting that “our health-care system is placing an unsustainable burden on taxpayers,” especially Medicare. Unless we find a way to cauterize this fiscal hemorrhage, “we will eventually be spending more on Medicare than every other government program combined. Put simply, our health-care program is our deficit problem. Nothing else even comes close.”
On this score he’s right. Medicare’s unfunded liability—the gap between revenues and promised benefits—is currently some $37 trillion over the next 75 years. Yet the President uses this insolvency as an argument to justify the creation of another health-care entitlement, this time for most everyone under age 65. It’s like a variation on the old Marx Brothers routine: “The soup is terrible and the portions are too small.”
Click here for the entire article.
Ten Bubbles in the Making
Posted by David Hazi in General on September 12th, 2009
Yahoo! had a great article today. If you think we are in a real recovery than you are severely mistaken. Don’t take advice from people who are only out to make a quick buck. The long term future of this country must be secured by individuals who have actual foresight.
One year after America’s brush with economic catastrophe, there’s plenty of looking back at the bubbles that caused financial chaos.
But what’s next?
There are surely dangerous economic bubbles forming as we speak. As Alan Greenspan warned this week, “They [financial crises] are all different, but they have one fundamental source,” he said. “That is the unquenchable capability of human beings when confronted with long periods of prosperity to presume that it will continue.”
The trick, of course, is spotting them. By definition, most people don’t spot a bubble before they form and burst.
Click here for the entire article.
You do lie Mr. Obama
Posted by David Hazi in General on September 10th, 2009
In case you didn’t hear. South Carolina Rep. Joe Wilson shouted “You lie” after Obama said extending health care to all Americans would not mean insuring illegal immigrants.
The chamber groaned and several Republicans looked at Wilson in disgust. Several members of the House and the Senate blasted Wilson after Obama’s speech.
I could point out what Obama did lie about in his speech, but I am going to take the course Joe Wilson did.
I would like to blast the members of Congress who scorned Wilson. While I respect the civility of the chambers and I know its rude to just blurt things out, it is time to stand up for what is right. Obama is standing in front of the entire country lying to them. Take a look at my post on the health-care analysis if you don’t believe me. Anyone who thinks yelling, “You lie.” is actually worse than lying, is just a flat out idiot.
Obama is on a mission to destroy this country under the auspices of trying to take care of the poor. I am sick and tired of this, quite frankly, bullshit argument. Joe Wilson did what was right. He called a spade a spade. There comes a time when enough is enough and being polite MUST take a backseat to securing the freedom and liberty of our country.
Kudos to you, Joe Wilson, for having the balls to stand up for what is right.
Great Quote
Posted by David Hazi in General on September 3rd, 2009
“I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.” – Thomas Jefferson
Obama profitting from H1N1 vaccines?
Posted by David Hazi in General on September 2nd, 2009
Did you know you have a 40 times greater chance of being struck by lightning at some point in your life than having your life saved by the swine flu vaccine? (Source: National Weather Service statistics.)
Did you also know that at $25 a shot, vaccine makers will be pulling in nearly $3.7 billion if they vaccinate only 50% of the American population?
So why is it that President Barack Obama urged Americans on Tuesday to get the H1N1 shot when it becomes available as the nation prepares for a second wave of swine flu as autumn approaches in the the Northern Hemisphere?
Maybe because the government announced deals with vaccine manufacturers including Deerfield-based Baxter International Inc. to make up to 90 million dosages of a vaccine as a precaution against the swine flu.
Obama owns stock in a company owned by Baxter International and company employees were size-able contributors to Obama’s campaign.
It appears we have become conditioned to allowing politicians to get away with crimes. Cheney was in bed with private defense contractors and now Obama is in bed with big pharmaceuticals. When will say, “Enough is enough?”