Now They Tell Us
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Hugh Victor Thompson III

“Larchmont's Leading Citizen”

Since: Dec 12

Hilliard, OH

#1 Dec 8, 2012
Now that Barack Obama is safely ensconced in the White House for another four years, several items which should have been noticed or revealed before Election Day have come to the fore. Collectively, they tell us two things: that the pre-election economy was worse than voters were led to believe, and that the prospects for meaningful improvement under the current regime are bleak at best. Additionally, in at least one instance, economic activity itself was likely manipulated.

The probable gamesmanship occurred at Government/General Motors, which is still effectively under Obama administration control, still on track to saddle U.S. taxpayers with a loss of $25 billion or more, and still losing market share.

Despite already-bloated inventories at its dealers, GM’s production lines ran full throttle during September and October. Thanks to that ramp-up and unimpressive sales growth, retail inventories grew by an astonishing 99,000 in October and November. Dealers received five vehicles for every four they sold during those two months, bringing their on-hand stocks from an already unsustainable 689,000 in September to an absolutely ridiculous 788,000. GM estimates that its dealers have a 4-1/2 month supply of full-size pickups — if the economy doesn’t tank.

It seems all too likely that a presidential campaign which used “GM is alive, Osama is dead” as its campaign theme ordered or pressured GM executives to keep the assembly lines running all-out regardless of the business consequences. The campaign of challenger Mitt Romney should have been paying closer attention, as half of GM’s inventory spike occurred and was reported before Election Day. But instead, it let itself get distracted by mostly irrelevant noise about Chrysler’s plans for its Jeep brand in China. It even missed touting Chrysler parent Fiat’s announcement that it plans to manufacture a new Jeep model for the North American market in Italy.

Earlier this week, almost a month removed from election-related visibility, the Wall Street Journal reported that the company “is taking steps to cut excess production,” specifically citing a plant in the critical swing state of Ohio, and “signaled there may be more to come.” Imagine that. If the economy sputters badly, layoffs could easily begin occurring at GM and throughout its supply chain.

News in the housing market, particularly concerning sales of new single-family homes, suddenly went from pre-election exuberance to post-election bleakness. The Census Bureau’s final pre-election report told us that new-home sales had reached a seasonally adjusted annual level of 389,000. The administration’s press apparatchiks dutifully reported that figure as the highest in 2-1/2 years. The Associated Press, aka the Administration’s Press, told readers and subscribing outlets that the news was “further evidence of a sustained housing recovery that could help lift the lackluster economy.”

Hugh Victor Thompson III

“Larchmont's Leading Citizen”

Since: Dec 12

Hilliard, OH

#2 Dec 8, 2012
Oops. The bureau’s post-Thanksgiving release revised September’s number down by over 5 percent to 369,000 and also reported a slight October decline. Overall, it showed that the housing market has gone nowhere during the past eight reported months. Actual monthly sales during the past five months have badly trailed 2009, when most observers thought that things were already as bad as they could get. Those who believed that clearly underestimated the Obama administration’s ability to perpetuate misery throughout a sector which would have long since recovered if it had simply been left alone. The AP’s still overoptimistic reaction to the September revision was to insist that “the housing market (is) starting to recover more than five years after the bubble burst,” and to push a large portion of the blame for October onto Superstorm Sandy.

Readers are going to be seeing a lot of Sandy-related excuse-making during the next several months, and — who knows?— maybe even the next several years. Already, Sandy is being peddled as the reason why the ADP-Moody’s November private-sector employment report came in with only 118,000 jobs added. Mark Zandi, chief economist at Moody’s Analytics, claimed that the number would have been 86,000 higher if it weren’t for Sandy. Logically then, the December catch-up added to a supposedly typical month with 200,000 jobs added should cause the next ADP-Moody’s report to show a gain of almost 300,000. Wanna bet, Mark? November’s jobs report from the government released on Friday, though presented as pretty decent by the press, really wasn’t.

Now even the press is turning dour on the economy, as if lousy conditions totally invisible before November 6 have suddenly (and of course,“unexpectedly“) appeared to ruin things. But so are Obama and Democratic legislators, who while demanding economy-retarding, job-killing pound-of-flesh tax increases and insisting that entitlement spending stay off the table for another ten years, want to add “tens of billions of dollars of … stimulus measures” to any deal to prevent the January 1 “fiscal cliff.”

The only things which seem likely to arise out of all of this are trillion-dollar deficits as far as the eye can see, continued lackluster or worse economic growth, and indefinitely higher than acceptable levels of unemployment and under-employment. Oh, and one more thing, courtesy of Howard Dean and despite the administration’s insistence to the contrary: tax increases for everyone.
http://pjmedia.com/blog/now-they-tell-us/...
Biased right

Cleveland, OH

#4 Dec 8, 2012
The above article is from a RIGHT WING blog and point of VIEW!
Not creditable .....

Hugh Victor Thompson III

“Larchmont's Leading Citizen”

Since: Dec 12

Hilliard, OH

#5 Dec 8, 2012
Biased right wrote:
The above article is from a RIGHT WING blog and point of VIEW!
Not creditable .....
That's your opinion. Sounds like you harbor a bit of bias yourself.
Wait what

Galion, OH

#7 Dec 8, 2012
Biased right wrote:
The above article is from a RIGHT WING blog and point of VIEW!
Not creditable .....
Creditable, really? One thing about the left - for all of their public education rants and raves, they don't seem to know English very well.
HVT New Veneral Disease

Dublin, OH

#8 Dec 8, 2012
Hugh Victor Thompson III wrote:
<quoted text>That's your opinion. Sounds like you harbor a bit of bias yourself.
It is fact... you and your point of view...WARPED

Hugh Victor Thompson III

“Larchmont's Leading Citizen”

Since: Dec 12

Hilliard, OH

#9 Dec 8, 2012
HVT New Veneral Disease wrote:
<quoted text>
It is fact... you and your point of view...WARPED
You might want to try it sometime. You might be able to eschew public assistance.

“Paper Or Plastic?”

Since: Nov 11

Albakoikee

#10 Dec 8, 2012
HVT New Veneral Disease wrote:
<quoted text>
It is fact... you and your point of view...WARPED
Walt, is that you?
Female

Chillicothe, OH

#12 Dec 8, 2012
The Speaker of the House needs to step it up, because the majority voted for Obama, and believes the wealthy needs to pay their fair share.. The tea party is ruining the Repubs once again and the people will blame them.

Hugh Victor Thompson III

“Larchmont's Leading Citizen”

Since: Dec 12

Hilliard, OH

#13 Dec 8, 2012
Female wrote:
The Speaker of the House needs to step it up, because the majority voted for Obama, and believes the wealthy needs to pay their fair share.. The tea party is ruining the Repubs once again and the people will blame them.
Boehner hate the Tea Party and he's about to cave in to Obama.
BTW, 49% voted against Obama and they have a right to input in this debacle. The "wealthy" already pay plenty, with the top one percent paying 40% of the taxes and the top five percent paying 60%.
Stop being so jealous and be happy that others support you.
Biased right

Cleveland, OH

#14 Dec 8, 2012
Wait what wrote:
<quoted text>
Creditable, really? One thing about the left - for all of their public education rants and raves, they don't seem to know English very well.
Omg, I made a mistake! So shoot me!
Speaking of education, the right wings want to dumb down America....always wanting to take away funds for better education. This country is so far behind the world it is embarrassing and pathetic!

Please check my spelling, I'm using an iPad.

ALSO, if you want a balanced and fair conversation, you all need to post unbiased articles....not from right or left!
HVT is a Veneral Disease

Dublin, OH

#15 Dec 8, 2012
Hugh Victor Thompson III wrote:
<quoted text>Boehner hate the Tea Party and he's about to cave in to Obama.
BTW, 49% voted against Obama and they have a right to input in this debacle. The "wealthy" already pay plenty, with the top one percent paying 40% of the taxes and the top five percent paying 60%.
Stop being so jealous and be happy that others support you.
Dumb dumber dumbest....

You are dumb.
Biased right

Cleveland, OH

#16 Dec 8, 2012
Hugh Victor Thompson III wrote:
<quoted text>That's your opinion. Sounds like you harbor a bit of bias yourself.
No. I'm in the middle....I agree and disagree with both parties.
I have voted both parties through the years and never vote straight tickets.
Every party has their bafoons.

Hugh Victor Thompson III

“Larchmont's Leading Citizen”

Since: Dec 12

Hilliard, OH

#18 Dec 8, 2012
HVT is a Veneral Disease wrote:
<quoted text>
Dumb dumber dumbest....
You are dumb.
Let's see you prove me wrong.

Hugh Victor Thompson III

“Larchmont's Leading Citizen”

Since: Dec 12

Hilliard, OH

#19 Dec 8, 2012
Biased right wrote:
<quoted text>
Omg, I made a mistake! So shoot me!
Speaking of education, the right wings want to dumb down America....always wanting to take away funds for better education. This country is so far behind the world it is embarrassing and pathetic!
Please check my spelling, I'm using an iPad.
ALSO, if you want a balanced and fair conversation, you all need to post unbiased articles....not from right or left!
And just what qualifies as "unbiased"? In today's political climate, there's no such thing.
Biased right

Cleveland, OH

#20 Dec 8, 2012
Hugh Victor Thompson III wrote:
<quoted text>And just what qualifies as "unbiased"? In today's political climate, there's no such thing.
You may be right. I did have a list of publications, both sides, but deleted it after election.
I'm commercialed out and want a breather. Before we know it, the ads will begin for the 2014 elections....Kasich for one.
Sigh
Female

Chillicothe, OH

#21 Dec 8, 2012
Karl Monday wrote:
<quoted text>
I don't care about "the majority". The majority is wrong.
And it does not matter if you care or not because the majority rules. It has always been that way. You would be happy if it had went the other way, but it didn't, sore loser.

Hugh Victor Thompson III

“Larchmont's Leading Citizen”

Since: Dec 12

Hilliard, OH

#22 Dec 8, 2012
Female wrote:
<quoted text> And it does not matter if you care or not because the majority rules. It has always been that way. You would be happy if it had went the other way, but it didn't, sore loser.
If the majority ruled, there would have been no civil rights legislation, no women's suffrage, prayer would still be in schools...
The government is supposed to function for ALL the people, not just the "winners."
HVT is a Veneral Disease

Dublin, OH

#23 Dec 8, 2012
Hugh Victor Thompson III wrote:
<quoted text>If the majority ruled, there would have been no civil rights legislation, no women's suffrage, prayer would still be in schools...
The government is supposed to function for ALL the people, not just the "winners."
You are nuts,,,, Like a Claxton Fruit Cake.

Just shut up please.

Hugh Victor Thompson III

“Larchmont's Leading Citizen”

Since: Dec 12

Hilliard, OH

#24 Dec 8, 2012
HVT is a Veneral Disease wrote:
<quoted text>
You are nuts,,,, Like a Claxton Fruit Cake.
Just shut up please.
Why would I want to do that, little girl?
I'm enjoying the fact that your vessel walls are becoming more inflamed with every post you read.

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