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EducateWorthington.org

The 912 Project - Glenn Beck

912 Group of Central Ohio

Please let me know if you'd like your link added

Can you imagine how many more people will simply stop paying their mortgage when Obama's plan is implemented.

If nothing else, you could get a few months free of mortgage payments.

[“The Democrats, however, seem to believe that Generally Accepted Accounting Principles are some sort of conspiracy against Obamacare, and all that is good and right in America.” Megan McArdleAl Gore didn't invent the internet, he invented global warmingThe welfare of humanity is always the alibi of tyrants - CamusIrony: Asking government to fix the problems it caused]

Shocking.  Simply shocking.  Who would have predicted this? (And notice the bias in the second line of the story..not the byline)

Political Litmus Test: Bluest States Spilling The Most Red Ink
Neil Weinberg

Powerful unions, big spending put Democratic states in deepest fiscal holes.

Want to know which states are in the worst financial condition? One telling indicator that might not immediately come to mind is whether most of its citizens identify themselves as Democrats.

The five states in the worst financial condition--Illinois, New York, Connecticut, California and New Jersey--are all among the bluest of blue states. The five most fiscally fit states are more of a mix. Three--Utah, Nebraska and Texas--boast Republican majorities and two--New Hampshire and Virginia--skew Democratic.

http://www.forbes.com/2010/02/25/democratic-states-bad-financial-shape-personal-finance-blue.html

KillingSaving the economy, one task force at a time.

Culled out

The Obama administration will accept no more public input for a federal strategy that could prohibit U.S. citizens from fishing some of the nation's oceans, coastal areas, Great Lakes, and even inland waters.

Why reduce spending when there are things that can still be taxed

Obama Administration Eyes New Taxes, Fees for National Broadband Network

Obama Economic Adviser Says U.S. Should Consider 'Value Added Tax'

2010: Outlook not so good

Start at min. 3:30
<a href="http://www.youtube.com/v/QVonJr9XvK0&rel=0" target="_blank">http://www.youtube.com/v/QVonJr9XvK0&rel=0</a>

Goldman didn't lose money one, single day
Goldmans Perfect Quarter

This time Max Keiser and co-host Stacy Herbert look at the scandals of perfect trading days; PIIGS flying only to fall to earth five minutes later when markets realize the Euro-Tarp financiers are themselves bankrupt debt pigs; and Max Keiser explains high frequency terrorism in the Manchurian candidate markets. In the second half of the show, Max interviews post-neoclassical economic philosopher Damon Vrabel about the European bailout, the financial empire and the IMF, and how the right kind of republic can provide some solutions.

<a href="http://www.youtube.com/v/dOhXUSBR3hs&rel=0" target="_blank">http://www.youtube.com/v/dOhXUSBR3hs&rel=0</a>

I was too quick to single out Goldman Sux.  Is government the solution?

`Perfect Quarter' at Four U.S. Banks Shows Fed-Fueled Revival

Four of the largest U.S. banks, including Citigroup Inc., racked up perfect quarters in their trading businesses between January and March, underscoring how government support and less competition is fueling Wall Street’s revival.

Bank of America Corp., JPMorgan Chase & Co. and Goldman Sachs Group Inc., the first, second and fifth-biggest U.S. banks by assets, all said in regulatory filings that they had zero days of trading losses in the first quarter. Citigroup Inc., the third-largest, doesn’t break out its daily trading revenue by quarter. It recorded a profit on each trading day, two people with knowledge of the results said.

“The trading profits of the Street is just another way of measuring the subsidy the Fed is giving to the banks,” said Christopher Whalen, managing director of Torrance, California- based Institutional Risk Analytics. “It’s a transfer from savers to banks.”

U.S. loses competitiveness title

A lot can change in 12 months. At this time last year, Western nations dominated the annual ranking of the world's most competitive countries by the IMD business school in Lausanne, Switzerland. Now 5 of the top 10 are from the Asia-Pacific region. Emerging-power China, ranked No. 18, has gained ground, even as No. 3-ranked U.S. and No. 22-ranked Britain slipped in the global pecking order.

"For the first time, we're seeing the creation of a self-sufficient economic block of developing countries," says Stéphane Garelli, director at IMD's World Competitiveness Center and co-author of the World Competitiveness Yearbook 2010. "They have money, markets, technology, and global brands that didn't exist 10 years ago."

The eastward shift isn't likely to end soon. While Europe struggles to rein in gaping budget deficits and the U.S. continues to suffer from high unemployment, most emerging economies have weathered the economic downturn better — and are now back to work. Commodity-rich nations such as Brazil and Russia are benefiting from rising prices for everything from iron ore to oil to soya beans. Such manufacturing giants as China and India are tapping into growing domestic markets, fueled by emerging middle classes eager to spend their renminbi and rupees.

Error Prevention or Limits on dumping stocks?  Run on the markets/stock to come?

NYSE expects all U.S. stocks to have circuit breakers

SHANGHAI (Reuters) - All U.S. stocks will probably be subject to so-called circuit breakers by the end of this year, Duncan Niederauer, chief executive officer of stock exchange operator NYSE Euronext (NYSE:NYX - News; Paris:NYX.PA - News), said on Thursday.

The circuit breakers, a mechanism to halt trading in a stock for five minutes if it falls more than 10 percent within five minutes, will initially apply to stocks in the Standard & Poor's 500 index (^SPX - News) under a proposal by the Securities and Exchange Commission as regulators try to avoid a repeat of the mysterious May 6 market slide that quickly spiraled out of control.

"They need to be applied to all the markets, not just some of the markets," Niederauer said, suggesting the circuit breakers also apply to exchange-traded funds, something the SEC has said may happen later.

BankWatch: Big Banks Face Financial Doomsday in 2012

Currently, 17 of the 70 banks that Moody's rates, get a "lift" from the assumption of government support. In some cases, the ratings receive a huge boost from this assumption. For instance, Bank of America's Aa 3 rating includes a five-notch lift, while Citi and Wells Fargo gets a four-notch lift from the implication of government support.

Brilliant!

World Economic Collapse Explained in 3 Minutes
<a href="http://www.youtube.com/v/H0a_FA_J6Sw&rel=0" target="_blank">http://www.youtube.com/v/H0a_FA_J6Sw&rel=0</a>

[“The Democrats, however, seem to believe that Generally Accepted Accounting Principles are some sort of conspiracy against Obamacare, and all that is good and right in America.” Megan McArdleAl Gore didn't invent the internet, he invented global warmingThe welfare of humanity is always the alibi of tyrants - CamusIrony: Asking government to fix the problems it caused]

According to George Will:

Private-sector job creation almost stopped in May. The 41,000 jobs created were dwarfed by the 411,000 temporary and low-wage government jobs needed to administer the census. Last year's stimulus having failed to hold unemployment below 8 percent as predicted, Barack Obama might advocate another stimulus -- amending Article I, Section 2 of the Constitution, which mandates a census every 10 years. If it were every year, he could take credit for creating 564,000 -- the current number of census takers -- permanent jobs.

And what does 0bama do?

President Barack 0bama said today the US would send $400m of aid to the Palestinian territories following 10 days of international focus on Gaza, which Israel has blockaded for more than three years. The announcement came as 0bama met the Palestinian president, Mahmoud Abbas, in Washington to discuss the progress of proximity talks between Israel and the Palestinians, as well as the dire situation in Gaza.

[the guardian]

[There’s an attempt to try to avert your eyes]

Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case

The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout in American history.

Fannie and Freddie, now 80 percent owned by U.S. taxpayers, already have drawn $145 billion from an unlimited line of government credit granted to ensure that home buyers can get loans while the private housing-finance industry is moribund. That surpasses the amount spent on rescues of American International Group Inc., General Motors Co. or Citigroup Inc., which have begun repaying their debts.

...

Whatever the fix, the money spent will not be recovered, said Alex Pollock, a former president of the Federal Home Loan Bank of Chicago who is now a fellow at the Washington-based American Enterprise Institute.

“It doesn’t matter what you do or don’t do, Fannie and Freddie will cost a lot of money,” Pollock said. “The money is already lost. There’s an attempt to try to avert your eyes.”

20 Must-See Charts On America's Disastrous Level Of Government Spending

Politics aside, it's clear to see the federal budget has surged to unprecedented highs. The increase in spending in just the past ten years is shocking. Meanwhile, federal revenue has decreased and is projected to keep falling.