Morning Meltdown 8-18-11


Morning Meltdown August 18, 2011 Stocks continued to selloff sharply following a handful of disappointing economic news and amid continuing worries over the euro zone debt crisis in addition to a gloomy forecast on global growth. -470.98 @ 10:45am est. www.cnbc.com —- Jobless Claims, Inflation Rise More Than Expected New US claims for unemployment benefits rose more than expected last week, according to a government report on Thursday that suggested hiring in August was steady but not robust. Meanwhile, initial claims for state unemployment benefits increased 9000 to a seasonally adjusted 408000, the Labor Department said. www.cnbc.com —- Bachmann: I’ll bring back $2 gas President Michele Bachmann has a promise: $2 gas. “Under President Bachmann you will see gasoline come down below $2 a gallon again,” Bachmann told a crowd Tuesday in South Carolina. “That will happen.” It’s certainly true that prices — now about $3.50 a gallon on average — have risen since President Obama took office. “The day that the president became president gasoline was $1.79 a gallon,” Bachmann said. “Look what it is today.” Of course, that’s not the full story…. money.cnn.com —- US Sen. Tom Coburn Can’t Pack A Gun In Langley, Coburn partially deflected criticism of President Barack Obama – and Federal Reserve Chairman Ben Bernanke – by blaming the country’s financial woes on Congress. He described his colleagues as “a class of career elitists” and “cowards,” and at one point, talking

25 Comments

  1. rileyphillip says:

    Thank you for your passion. Keep up the good work!

  2. Carrie3570 says:

    @gaintwist32 Yep yep yep!!! It’s like that with everything. There are so many laws against a single person selling their product and it makes no sense, same goes with trading. If you want to buy the milk my cow produces, why can’t I sell it & you buy it? And if you have chickens and they laid a dozen eggs, why can’t we just trade milk for eggs? (I know some people do it, but everything I mentioned is illegal.) The regulations and rules are out of control as far as I’m concerned.

  3. gaintwist32 says:

    Any citizen of a third world country with a goat or a cow or sheep can make cheese and possibly sell the excess for a modest profit.In america we pay about $9 dollars a pound for parmesan at the supermarket.This is in a country with a surplus of milk.This is what overregulation and government mismanagment cause and yet we have institutions whose sole purpose is to create more laws.

  4. MrWhitey101 says:

    @Carrie3570 Some economists try & blame OPEC, but OPEC actually has very little to do with the price of gasoline. Sure, they can raise & lower production, and effect the price maybe 10%, but it’s our speculators on wall street who drive the price up and down, and they make huge profits betting on it going up & down using derivatives.
    Also, the the US government, if they see gas prices falling, can cut production down at the refineries here to keep prices high, then they blame OPEC. It’s a scam.

  5. MrWhitey101 says:

    @Carrie3570 Carrie, gas was at an all-time high before Obama took a double digit lead in the polls around July of Bush’s final year in office. Speculators saw that it was going to be Democrat in office, and oil plummeted from $146 a barrell to under $35.
    So it is blatent, purposeful misinformation to bring up the price of gas the day Obama took office, as opposed to when it was clear he was the frontrunner in the election. Even with the BP spill, gas never got as high as it was under Bush!

  6. toutatis12 says:

    @HatchetJacks50 You are hilarious. You attack a clearly flippant OP comment. And then proceed to whiff at my “source/s” reply.

    Obviously, illegals have less rights than US citizens. However, I think it’s fair to say that the OP feels that illegals have access to more advantages than perhaps they should.

    Peace out.

  7. toutatis12 says:

    @HatchetJacks50 Please provide your source/s.

  8. toutatis12 says:

    Nice to hear some honest, direct talk for a change.

  9. vangard213 says:

    @Carrie3570 Well I blame everything from the president to congress to corporations to the bankers. LOL !

    I’ve still yet to figure out the “food stamp job creation thingey”. LOL !

  10. vangard213 says:

    @HatchetJacks50 It’s taking jobs away from America.Coke is spending $27 billion in China,thats money that could have been spent here to create jobs.But with our screwed up president and the advantages of doing business in a good economy I understand why they are doing it.

  11. stephenabm says:

    @Carrie3570 In a short time, the tea party became a very influencial movement and are making a difference. The media, in general are controlled by the liberal elite and will continue to fight against the conservatives, libertarians and the Tea Party. The left is terrified of the truth and they cannot stand the light of day. They are now being exposed to facts, truth and the force of an awakened American electorate. I pray to God that the Tea Party will grow and take even more seats!

  12. Carrie3570 says:

    @vangard213 I can’t exactly blame the companies. It’s hard to do business in the United States. They might have to open places in other countries to make a profit to keep the ones they have here open.

    The way Obama is creating jobs is with the Food Stamp Program or SNAP, remember? haha!

  13. Carrie3570 says:

    @TheDiceAreLoaded It is disgusting. It’s the same crap, trying to spin things. A crock is exactly what it is!

  14. Carrie3570 says:

    @MadBadVoodo hmmmm… where do you live? mwahahaha!! Wait.. you forgot to mention if you have weapons to protect all yer stuff.

  15. vangard213 says:

    China grew their economy by over 9% while ours continues to falter.Coke,KFC and several others are pouring $billions into the Chinese economy.All this recovery talk by Obama and others is BS ! There is no recovery,for some we are in a depression.Obama enjoys the “I’m creating jobs” crap when there are no jobs ! Banks continue to recieve $billions in secret deals while some go to bed hungry and never know where their next meal is coming from.It’s pathetic ! I for one am sick of it !

  16. Carrie3570 says:

    @tomvercetti Now there’s a plan. Then maybe we could get a job.

  17. tomvercetti says:

    We should all just become citizens of Mexico, stroll across the border (that is still open 10 years after 911) back into the U.S. and suddenly forget how to speak English. After all, illegals have more rights and advantages in our own country than U.S. citizens. “No habla ingles, senor obama!”

  18. IronRangeSurvival says:

    @Carrie3570 Just do what you can, learn while you can, and do the best you can do…Who knows what may come; I just hope it allows for local community. I am very glad to not be near a city. Thanks for the news.

  19. Carrie3570 says:

    @stephenabm You know the Tea Party is an excuse they are using. I wish the Tea Party had the amount of pull that they (media & politicians) say. If that was the case things wouldn’t have ended up the way they did.

  20. stephenabm says:

    Obama likes to hear himself talk and never takes responsibility for anything, blames President Bush, the Republicans, Congress and even the American people. He really irritates me when he blames the “Tea Party” as they are the reason we even debated the budget at all. I thank God for the Tea Party, as they will be the ones that will save America from truly sinking into a socialistic poverty stricken country. I truly believe that Obama and the leftists are trying to destroy our economy on purpose

  21. Carrie3570 says:

    @IronRangeSurvival I can’t wait to get to that point. The last two years it is like we have been still instead of moving forward. I have a garden now, but we have no cash to buy land. So we are still learning while we are stuck so I guess it will have to do.

  22. Carrie3570 says:

    @mmlrc6atgmailcom Yep, I sure did let it out. I felt better after.

  23. Carrie3570 says:

    @goldsilverandiamonds Thanks!

  24. greatwf says:

    ¡great!
    

  25. goldsilverandiamonds says:

    You need to run for office local, state, or national. Common sense is no longer common and you have your finger on the REAL pulse. Like minded people need to take back our government and run for offices to turn this thing around. Great video , I subscribed.

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