"The most economically incompetent administration since the Great Depression"

[Just Win]

GM is having a bear of a time making their IPO work. They were going to use the cash from the IPO to pay back Uncle Sam for the bailout of GM but investors will not touch the IPO. Not exactly a vote of  confidence for this administration.

[One Man Gang]

Hell's Bells, this bunch can't even get their CARPETING right!

http://www.washingtonpost.com/wp-dyn/content/article/2010/09/03/AR2010090305100.html

 

The country is in the best of hands.

[Just Win]

Hell's Bells, this bunch can't even get their CARPETING right!

http://www.washingtonpost.com/wp-dyn/content/article/2010/09/03/AR2010090305100.html

 

The country is in the best of hands.

Simply incredible! He is making the Oval Office look like Elvis' Zebra room at Graceland. All this president knows how to do is borrow and spend money, apologize to the rest of the world that the USA exists, and go on vacation.

[Just Win]

We were told this administration was not going to let this happen.

US foreclosure activity rose in August from the previous month, and banks and lenders took ownership from homeowners at a record pace, according to a new report released Thursday.


Bank repossessions, often the final step in the foreclosure process after a home fails to sell at auction, increased about 3 percent from the month before to 95,364, a record high. At the same time the number of properties that received default notices—the first step in the foreclosure process—decreased 1 percent from a month ago and fell 30 percent from a year ago, a sign that lenders are focusing on their backlog of foreclosure inventory before tackling new distressed loans, according to foreclosure listing website RealtyTrac, which released the report.

Overall, foreclosure fillings rose 4.18 percent in August from the previous month, and were down 5.48 percent from a year ago. In all, 338,836 properties were in the foreclosure process. One in 381 U.S. households received a foreclosure notice in August. (Foreclosure notices are defined as a default notice, auction sale notice or bank repossession.)

“There is a buildup in delinquent loans that are not in foreclosure,” said Rick Sharga, senior vice president of RealtyTrac, adding that banks and lenders are slowing the process to avoid a drop in home prices. “It’s a managed slowdown more than anything else,” he said.

“The underlining conditions haven’t improved,” Sharga added, referring to high unemployment and falling home prices in certain markets.


The ten states with the highest foreclosure rates were little changed from the previous month, according to the RealtyTrac report. For the 44th straight month, Nevada had the highest foreclosure rate in the country with one in every 84 properties in the state getting a foreclosure notice. (Nevada also has the highest unemployment in the country.)

Florida ranked second with one in every 155 households receiving a notice, followed by Arizona (one in 165 households), California (one in 194 households) and Idaho (one in every 220 households.) (See the full list in our slideshow.)

Vermont had the lowest rate, with one in every 18,389 properties receiving a foreclosure notice.

The RealtyTrac report comes a day after the Mortgage Bankers Association reported that demand for home loans fell even though mortgage rates were at record lows. Also on Wednesday, real estate website Trulia.com reported that homeowners nationally slashed more than $29 billion from their asking prices in August, as they tried to lure buyers stalled by unemployment.

[Just Win]

We were told this administration was not going to let this happen.

Obama Is Going To Pay For My Gas And Mortgage!!!

[The One Man Gang]

Still waiting.

Hmmm, maybe they're taking classes on how to wash their p*ckers.

[The One Man Gang]

More competence:

As part of the Communist regime's $789billion slush fund "Stumulus Bill" the Communist government of Los Angeles was given $111,000,000.00 to create jobs.

Total jobs created: 55, five-five, FIFTY-FIVE. That's a cool $2,000.000.00 per head.

http://patterico.com/2010/09/16/your-stimulus-dollars-at-work-2-million-per-job/

From the comments: "I didn't know The Mayor had so many girl friends."

 

[NCVol]

I think you guys are expert in providing misleading analysis.

If you follow the link, the main problem was the money was appropriated, but not spent yet.  I don't know if you all would find that good or bad.  I thought everyone was against the spending, but maybe it not being spent is also proof of something bad.  And most of it was for road stuff, which presumably includes quite a bit for the stuff that roads are made of plus labor.  I guess the right wingers believe the auditor should have used a spending multiplier of 3 or 4 and assumed some number of jobs instead of counting actual bodies on the payroll? 

The good thing about right wing analysis is you can always safely assume it's made up of some significant amount of bullcrap - 100% bullcrap is pretty common.  And it's sort of an interesting game to go to the source document and figure out where the deception is.  Unfortunately, it's usually so obvious that the only question is whether the people paid to write the stuff are stupid, or just shameless propaganda whores. 

[The One Man Gang]

More competence.

This time with a local flair. From the KNS:

http://www.knoxnews.com/news/2010/may/11/economic-stimulus-turns-into-hindrance/?print=1

"What has been one of Sevier County's most popular thoroughfares has become an area to avoid after a four-mile construction project on Highway 66 began last summer, according to concerned merchants.

Businesses that boomed a year ago now are struggling for survival because a gauntlet of concrete barricades, orange barrels and confusing detours generated by the project are obstacles for tourists, according to local business owners."

<snip>

"The project, which is funded solely by the American Recovery and Reinvestment Act of 2009, is the largest stimulus project of its kind in Tennessee and was intended to increase employment, according to an online letter from Gov. Phil Bredesen. Sevier County-based construction company Blalock and Sons was awarded the $38,698,150 contract to widen Highway 66.

However, only one on-site construction worker has been hired since September, confirmed Tennessee Department of Transportation Project Manager Jennifer Stone, while local retailers have had to cut back staffing and decrease work hours because of disruption from road construction." (emphasis added)

[Jeremy Roenick]

That's an irrefutable story.  Any one who has been to Pigeon Forge/Sevierville the last year has seen and experienced that mess.  I went to Galtinburg last weekend for a Saturday night supper, and I went through Newport and Cosby to get into Gatlinburg the back way just to avoid that mess.


I don't doubt that it has hurt local retailers.  Who wants to stop and try to re-enter the highway in that mess?  Not me.  I don't even want to drive through it let alone stop.

[The One Man Gang]

Hope! Change! Competence!

The brother of Politburo member Russ Carnahan (CPUSA-MO) and Supreme Soviet candidate Robin Carnahan has somehow **magically!** turned up with a cool $107 MILLION of Stimulus money.

http://www.stltoday.com/news/local/govt-and-politics/political-fix/article_edf58fec-c4cc-11df-9a95-0017a4a78c22.html

It do pay to be a member of the Ruling Class.

[Just Win]

Hope! Change! Competence!

The brother of Politburo member Russ Carnahan (CPUSA-MO) and Supreme Soviet candidate Robin Carnahan has somehow **magically!** turned up with a cool $107 MILLION of Stimulus money.

http://www.stltoday.com/news/local/govt-and-politics/political-fix/article_edf58fec-c4cc-11df-9a95-0017a4a78c22.html

It do pay to be a member of the Ruling Class.

Can you believe this rot? Have mercy on us!



The inanity of it all!!   


What a waste. That money should have been spent on a breeder reactor power generation plant. We are going to need about 300 power reactors for the future. Our grandchildren will curse us in future years for what we have have allowed this administration to do to our republic. I plan on leaving a diary to let them know I voted for real change in November of 2008 and not some pseudo change like we say in 2008.