Archive for October, 2007
Data add to gloom on US economy From MSNBC starts off with this
A build-up of bearish data fuelled fears of a US economic slowdown on Tuesday as consumer confidence slumped to a two-year low and house prices in big cities suffered their biggest drop in 16 years.
U.S. Growth Probably Cooled in Third Quarter as Housing Slumped Is Bloomberg’s headline…
The U.S. economy cooled in the third quarter, restrained by a plunge in housing that threatens to bring the six-year expansion to a halt, economists said before a report today. Gross domestic product rose at an annual rate of 3.1 percent from July through September, according to the median forecast in a Bloomberg survey of 82 economists, compared with a 3.8 percent growth rate the prior quarter.
Each of these articles paint a fairly gloomy picture of the US Economy.. The Wall Street Journal on the other hand had this to say;
The U.S. economy sped up last summer despite a much heavier drag by the housing sector as surging exports and stronger consumer spending helped turn growth surprisingly faster.
Gross domestic product rose at a seasonally adjusted 3.9% annual rate July through September, the Commerce Department said Wednesday in the first estimate of third-quarter GDP. Second-quarter GDP climbed 3.8% and GDP rose only 0.6% in the first three months of 2007.
Some price inflation gauges in the data grew at a lower pace in the third quarter. But one key gauge, seen as an important indicator of core inflation, accelerated.
Stronger exports helped power the economy through the housing slump and tighter credit conditions. Wall Street expected a solid but smaller GDP growth rate. The median estimate of 24 economists surveyed by Dow Jones Newswires was 3.2% GDP growth during summer.
The 3.9% increase represented the strongest growth in quarterly GDP since a 4.8% increase during the first quarter of 2006.
So how is it that economic analysts can look at the same numbers and come up with completely different conclusion? The answer in my opinion is simple really… MSNBC and the majority of the Liberal Biased Media desire to portray the economy in far worse shape than it really is, just to give Democrats fuel for their talking points. As long as there is a Republican in the White House any positive economic news must first pass through the liberal spin cycle to be portrayed as negatively as possible.
You would think that an economy that sustains consistant steady growth, below 5% unemployment, and consecutive years of increased tax receipts allowing for the reduction of budget deficits, would get some respect by the mainstream media and the Democrats.. Sadly that is not the case.
Others Blogging: ConservativeINC
The monthly toll of U.S. service members who have died in Iraq is on track to being the lowest in nearly two years, with at least 36 troop deaths recorded as of Tuesday, but the military cautioned it’s too early to declare a long-term trend.
So when can we expect that public apology from Hillary Clinton to General Petraeus for her comments at the Senate Hearing on progress in Iraq.
“The reports that you provide to us really require the willing suspension of disbelief,”
Oil is at Record Highs, yet what are we doing to move toward energy independence? Drilling in ANWAR? Nope, Expanding the use of Coal… Not a chance… building more Nuclear power facilities? Again the answer is NO! Politicians from both parties have campaigned for years about energy independence yet all we get from either party is more rhetoric and no real solutions. It is well past time to put politics aside and actually do something here.
Politicians from both sides of the aisle have objected for years about expanding exploration and drilling in the Gulf of Mexico & off the coast of California, yet none of these same politicians raised a voice of concern when Cuba & China announced plans to do exactly that.
Now I know that we will never drill our way to energy Independence, but we should be expanding our exploration and drilling for oil in a sound environmentally friendly way while we research and develop new energy sources.
Who stands a better chance of getting oil from the Gulf without endangering the environment… It certainly is not the Chinese…. But I am sure that with the right contributions to a Presidential wannabe the Federal Government will remain silent on the issue.
Proprierter Nation has an older Post on Energy Independence and our Addiction to oil… If anyone else has a post on this issue I would be glad to link to it here.. Just put a note in the comments.
He may be down in national polls, but Mitt Romney is on a roll in the two states that kick off presidential voting.
A new survey of Iowa Republicans out Monday puts Romney more than 20 points ahead of his closest rivals.
The former Massachusetts governor is at 36 percent in the University of Iowa Hawkeye poll. Former New York Mayor Rudy Giuliani, the GOP front-runner in most national polls, places second at 13 percent and is in a virtual tie with former Arkansas Gov. Mike Huckabee.
Former Tennessee Sen. Fred Thompson is in fourth place at 11 percent and Arizona Sen. John McCain trails with 6 percent. The Republican survey carries a margin of error of plus or minus 5.8 percentage points.
The University of Iowa poll surveyed 285 likely Republican caucus-goers by telephone from October 17-24 and carries a margin of error of plus or minus 5.8 percentage points.
If Huckabee can finish strong in Iowa, and then again in South Carolina it could give a big boost to his campaign.. Rudy and Romney have both invested heavily in the early states, if either fail to capitalize on those investments each would have to re-evaluate their campaign. Fred Thompson on the other hand has not invested nearly as much in the early states as the other candidates and only needs a respectable showing to move forward. The Wild card in all of this is the Isolation candidate Ron Paul, and how he does in New Hampshire. If he grabs a significant percentage of the vote there it could force one of the top tier candidates out of the race. Regardless of what you might think of the Texas Congressman he has been able to put together a powerful internet based campagn, sort of like the Howard Dean of the Republican Party. Who knows, maybe we will get another Scream event similart to Dean’s folowing his poorer than expected showing in Iowa.
Just one more reason to reject the socialized medicine prescribed by Democrats
Record numbers of Britons are travelling abroad for medical treatment to escape the NHS – with 70,000 patients expected to fly out this year.
And by the end of the decade 200,000 “health tourists” will fly as far as Malaysa and South Africa for major surgery to avoid long waiting lists and the rising threat of superbugs, according to a new report.
Intel official says Washington promoting Palestinian state to pay for Arab support.
A senior Palestinian intelligence official said that based on meetings with American diplomats he “understood” the US plans to target Iran’s suspected nuclear installations in two to three months if negotiations with Tehran don’t generate a major breakthrough.
The official, speaking to WND yesterday on condition of anonymity, said according to what he “understood,” the US will “pay” for Arab support for a US strike against Iran by creating a temporary Palestinian state in the Gaza Strip and most of the West Bank by next summer.
Something needs to be done to prevent Iran from attaining Nuclear Weapons, but I don’t think anyone in the Administration is pushing for a military strike on Iranian Nuke Facilities… At least not yet.
As for the source… a Senior Palestinian Intelligence Official who chooses to remain Anonymous… Yeah Right…. I think it is far more likely that some Palestinians who’s power is based on the continued conflict with Israel is attempting to undermine any attempt to achieve a peaceful resolution to the conflict.
I would bet the American Criminal Liberties Union is behind the lawsuit…
One of the toughest state laws targeting illegal immigrants takes effect Thursday in Oklahoma, prompting efforts by immigrants trying to block it and work by state agencies to comply.
The law makes it a felony to transport or shelter illegal immigrants. Businesses, which are barred by federal law from hiring illegal immigrants, can be sued by a legal worker who is displaced by an illegal one.
The measure denies illegal immigrants certain public benefits such as rental assistance and fuel subsidies.
“It’s clearly one of the most restrictive policies” in the country, says Cecilia Muñoz of the National Council of La Raza, a Hispanic civil rights organization.
Muñoz says she’s particularly concerned about a provision that gives local police the authority to check immigration status. Such policies create fear among all Hispanics, including those in the country legally, and may contribute to discrimination, she says.
This is not a law about race, it is a law that prevents people in this country illegally from getting taxpayer supported financial assistance. It removes one of the many incentives for people to come here illegally. If more states had laws like this the illegal immigration problem we have would be much smaller.