Unemployment in the U.S. Visualized in a Time-Lapse Map: More Grim Than Reading Numbers

~~By InsightAnalytical-GRL

Stumbled across this tidbit below  in a thread over at ChrisMartenson.com.

It’s a time-lapse map of how unemployment has been growing across the nation from January 2007 until now.  Click on this link to play it in all its full-sized glory.  It’s a pretty amazing sequence…and pretty grim to see it unfolding,county by county and in living color before your very eyes.

U.S, Unemployment Map

U.S Unemployment Map

more about “multimediafinal“, posted with vodpod

(Note: The site seems to be timing out this morning [Thursday, 11/19/2009]…it must be getting lots of hits.

3:30 PM check….link is working fine, so problems linking are probably due to high traffic. If it happens, try again later. You won’t regret it!)

You Know Things Are Bad When….the Mortgage Bankers Association Puts THIS On Sale….

~~By InsightAnalytical-GRL

The Washington Business Journal is reporting that the MBA is putting it’s nearly-new headquarters building up for sale:

MBA puts new headquarters up for sale – Washington Business Journal

The Mortgage Bankers Association is putting its new downtown headquarters building up for sale, citing the economic downturn.

The MBA’s headquarters, a 170,000-square-foot, 10- story building at 1331 L St. NW, was completed in the summer of 2008.

Spiffy "green" MBA Headquarters

The Association’s chief executive officer has decided that it would be “imprudent” to hang onto the building, which is one of a very few in Washington D.C. that meets “green” building standards:

“Since its purchase in May 2008, the U.S. economy has suffered one of the most severe recessions in a century, and the residential and commercial real estate markets have deteriorated,” said MBA chief executive John Courson in a letter to members.“ These factors, coupled with a challenging leasing environment, led the MBA board to conclude that continued ownership of 1331 L Street was economically imprudent, and over the long term would impair MBA’s ability to continue providing out members with MBA’s full range of services.”

I”m not exactly what services they provide to members, but I hope they’re giving them free lessons on how NOT to make crummy loans…

…’Nuff said…

CNBC (Among Others) Caught in the Act “Reporting” Nouriel Roubini’s Comments on the Economy…He Responds

~~By InsightAnalytical-GRL

Yesterday morning (Thursday, July 16), I tuned into CNBC with my usual jaded eyes and ears and was amply rewarded by the total misrepresentation of Nouriel Roubini’s comments on the economy.

The talking heads were almost giddy as the “news” flashed across the bottom of the screen almost non-stop:

“Roubini says the worst is if over for the financial (sector) and the economy.”(sic)

The  talking heads opined that the gains in the market were because of this comment.

Something didn’t sound right, not right at all. I had just seen a video of a Bloomberg panel featuring Roubin and Robert Shiller (who forecasts the housing market, among other things).  The panel discussion was on July 9. Here’s the story with the video which is up at Roubini’s RGE Monitor site,under the title “Roubini Says U.S. Recession Will Last Six More Months.”  Roubini also said that whatever recovery occurs will be “shallow.”  And, he added more grim analysis of the economy and our present state of affairs as the discussion progressed.

So, now it seems that Roubini has issued a statement to counter the reporting of his views:

Roubini: Views on Economy Unchanged Despite Reports

Published: Thursday, 16 Jul 2009 | 5:51 PM ET

By: CNBC.com

Nouriel Roubini, the economist whose dire forecasts earned him the nickname “Doctor Doom,” said after markets closed Thursday that earlier reports claiming he sees an end to the recession this year were “taken out of context.”

Nouriel Roubini

cnbc.com


“It has been widely reported today that I have stated that the recession will be over ‘this year’ and that I have ‘improved’ my economic outlook,” Roubini said in a prepared statement. “Despite those reports … my views expressed today are no different than the views I have expressed previously. If anything my views were taken out of context.”

Several business news outlets, picking up on a report initially from Reuters, earlier Thursday cited Roubini as saying that the worst of the economic financial crisis may be over.

(MORE)

Yeah, “several business news outlets” means YOU, CNBC!

Roubini’s unfiltered statement is up now at his site.

Roubini Statement on the U.S. Economic Outlook

Nouriel Roubini | Jul 16, 2009

“It has been widely reported today that I have stated that the recession will be over ‘this year’ and that I have ‘improved’ my economic outlook. Despite those reports – however – my views expressed today are no different than the views I have expressed previously. If anything my views were taken out of context.

“I have said on numerous occasions that the recession would last roughly 24 months. Therefore, we are 19months into that recession. If, as I predicted, the recession is over by year end, it will have lasted 24 months with a recovery only beginning in 2010.  Simply put I am not forecasting economic growth before year’s end.

“Indeed, last year I argued that this will be a long and deep and protracted U-shaped recession that would last 24 months. Meanwhile, the consensus argued that this would be a short and shallow V-shaped 8 months long recession (like those in 1990-91 and 2001). That debate is over today as we are in the 19th month of a severe recession; so the V is out the window and we are in a deep U-shaped recession. If that recession were to be over by year end – as I have consistently predicted – it would have lasted 24 months and thus been three times longer than the previous two and five times deeper – in terms of cumulative GDP contraction – than the previous two. So, there is nothing new in my remarks today about the recession being over at the end of this year.

And then he gets to the real core issue:

“Also, as I fleshed out in detail in recent remarks the labor market is still very weak. I predict a peak unemployment rate of close to 11% in 2010. Such a large unemployment rate will have negative effects on labor income and consumption growth; will postpone the bottoming out of the housing sector; will lead to larger defaults and losses on bank loans (residential and commercial mortgages, credit cards, auto loans, leveraged loans); will increase the size of the budget deficit (even before any additional stimulus is implemented); and will increase protectionist pressures.

“So, yes there is light at the end of the tunnel for the US and the global economy. But as I have consistently argued, the recession will continue through the end of the year, and the recovery will be weak and at risk of a double-dip, as the challenge of getting right the timing and size of the exit strategy for monetary and fiscal policy easing will be daunting.

That sounds a whole lot less open and shut than the message being broadcast by CNBC, doesn’t it?

“The Bailout” by Cartoonists

~~By InsightAnalytical-GRL

Grail Guardian shipped us a bunch of cartoons on the subject of  THE BAILOUT and the general state of the .  Here are a couple and more will be sprinkled here in the future…Cartoonists DO say it best!! Thanks, GG!!

Bailout1

Bailout2

While Obama is Overseas, Congress Sets Us Up to Go Broke…Where We Stand Now

~~Via W.A.M. (Wake Up America)

PRESS RELEASE

April 3, 2009

OBAMA APPLAUDS  HIS NEW PARTY ON GOING FOR BROKE!

The House of Representatives and the Senate moved merrily forward toward their decimation of the U.S. economy in a party-line vote in favor on Obama’s break-the-bank budget this week. Only 20 House Democrats voted against the measure, with many Blue Dog conservatives still acquiescing to the Administration’s massive social engineering expenditures which result in a staggering debt to be paid for by generations to come.

Although a new coalition of “moderate” Senate Democrats emerged in March, many of these members voted in favor of the budget excesses, with minor  adjustments intended to ‘save face’ in their home states. Even the much-touted ‘small change’ middle class tax cuts expire in  the 2010 budget, leading observers to wonder just what these Senators ‘hope’ to claim credit for with their constituents back home.

In a first show of party unity this year, all GOP voted against the budget, including Senators Specter, Collins and Snowe, who until now have aligned with the Pelosi driven flurry of Socialist engineered “Change” laws. It remains to be seen where their loyalties will lie when the particulars in the budget return to the  floor for final decisions – particularly related to massive Health Care and Energy programs yet to be finalized.

Estimates are that Obama’s new Energy Plan, alone, will cost the average American household $3,000 to $4,000 annually in added utility costs. His Health Care Plan remains fraught with special interest advantages,  combined with federally-regulated mandates to trim diagnostic tests while increasing cost-saving regulations to increase “hopeless cause” diagnosis-thus reducing the quality and coverage of U.S. Health Care overall, especially affecting senior citizens. Overall advantages of his plan would be afforded to illegal aliens with the Federal government floating their health care costs.

Although it currently lays on the cutting room floor, some credit is due House Minority Whip Eric Cantor for steering a more sensible GOP Budget Plan, which would have trimmed back the gluttonous spending of the already passed OMNIBUS and HR 1 Stimulus Plan. While given no substantial attention by Obama-controlled  MainStreamMedia, the careful crafting of these alternative Republican budget proposals debunks the Democrat’s propaganda campaign that has falsely disclaimed GOPers in Congress to be no more than negative naysayers.

As with all legislation so far flying through the 111th Congress, achieving this appearance of a Budget consensus, due diligence and fair reflection were swept under the rug. Only 55 Senators voted for the budget while rule shuffling allowed for its passage with a simple majority of 51.

The only good news on the Budget blueprint are signs of minor cracks in Democratic cohesion and the emergence of  greater GOP unity and clarity. These indicate growing Capitol Hill apprehension on Obama’s Break America Plan.

Expanded public awareness of the dangers and deceits in this unprecedented New Party takeover of our nation, combined with Activist Actions on Congress -lcould continue to erode Pelosi’s stranglehold on Congress. That’s up to US!

This week’s passage of the revisionist budget blueprint is just one step in a longer term battle whose outcome will show whether We the People take back our government or let it overtake US. The emerging crisis conditions within America’s overburdened, no-longer-represented mainstream middle class needs to move US from shock and outrage to Get Involved and make our voices heard in online, in the media and in Washington, D.C.

***

For more information follow the links above or visit W.A.M via the sidebar to the right.