US Home Prices Drop For 6th Straight Month

Home prices dropped in February in most major U.S. cities for a sixth straight month, a sign that modest sales gains haven’t been enough to boost prices.

The Standard & Poor’s/Case-Shiller home-price index shows that prices dropped in February from January in 16 of the 20 cities it tracks.

The steepest declines were in Atlanta, Chicago and Cleveland. Prices rose in Phoenix, San Diego and Miami. They were unchanged in Dallas.

Read More at OfficialWire. By Christopher S. Rugaber.

Why tapping the Strategic Petroleum Reserve is a bad idea

Gas prices have more than doubled under President Obama, a feat unmatched even by Jimmy Carter. Understandably worried about the upcoming election, some congressional Democrats and at least one former administration official have been floating the idea that the president should release oil from the U.S. Strategic Petroleum Reserve as a way to lower prices.

Bunk.

Any price reduction caused by a withdrawal of oil from the reserve will be temporary. According to the U.S. Energy Information Agency, U.S. oil consumption was about 18.8 million barrels per day in 2009, the last year for which figures are available. The reserve inventory currently stands at just under 700 million barrels, representing just 39 days of U.S. consumption.

Last year, Obama released 30 million barrels of oil from the Strategic Petroleum Reserve—the largest withdrawal ever—as part of a 60 million barrel release coordinated by the International Energy Agency. This massive release, in response to supply disruptions in Libya and other countries during the “Arab Spring” revolts, flooded the market last summer, but by January prices were on their way back up again.

Never before has a president released oil from the Strategic Petroleum Reserve without having replaced previous withdrawals. But, already carrying a $1.3 trillion deficit, Obama has not been able to replace last year’s drawdown. To withdraw from the reserve two years in a row would be unprecedented; moreover, further reduction of our strategic reserve would increase the risk of a serious shortage in the event of a real emergency.

Read More at Human Events. By Mark LaRochelle.

Revealed By WikiLeaks: Obama Team Stole Election, Bribed Jesse Jackson And Took Russian Money In 2008

According to internal Emails circulated among the staff at Stratfor, an Austin Texas based private intelligence gathering firm, John McCain was presented with proof that Democrats in Pennsylvania and Ohio used voter fraud to win those states and committed other disturbing crimes. The communiqués were stolen and made public by WikiLeaks.

An Email dated November 7, 2008 under the subject line “ Insight – The Dems & Dirty Tricks ** Internal Use Only – Pls Do Not Forward **,” was sent by Fred Burton, Stratfor’s V.P. of Intelligence. It said in part, The black Dems were caught stuffing the ballot boxes in Philly and Ohio as reported the night of the election and Sen. McCain chose not to fight. The matter is not dead inside the party. It now becomes a matter of sequence now as to how and when to “out”. 

Burton also mentioned a “six-figure” Democrat donation/bribe to Jesse Jackson to buy his silence about Israel. On October 14, 2008 Jackson told fellow attendees in at the World Policy Forum in Evian France a ‘President Obama’ would “remove the clout of Zionists who have controlled American policy for decades.”

Burton continued with an explosive charge he apparently considered quite believable, The hunt is on for the sleezy Russian money into O-mans coffers. A smoking gun has already been found. Will get more on this when the time is right. My source was too giddy to continue. Can you say Clinton and ChiCom funny money? This also becomes a matter of how and when to out.

This allegation makes some sense of Obama’s reassurances to Russian President Dmitry Medvedev caught by an open mic. Obama said “….but it’s important for him [Putin] to give me space.”

 Read More at Western Journalism By Kevin “Coach” Collins

 

Here’s Another Reason Why Mitt Romney Will Most Likely Lose in November

Mitt Romney has RomneyCare, flip flopping, and a lack of true conservative convictions to contend with in his attempt to win over conservative and evangelical voters. It doesn’t help that he succumbs to the latest liberal political fads – the support of homosexual relationships, and this from a man who’s all about “family values.” And I don’t mean family values as redefined by the liberal establishment that includes homosexual marriage.

Romney’s decision to hire foreign policy spokesman Richard Grenell, a self-avowed homosexual — described by Bryan Fischer, host of the radio program Focal Point, as an “out & loud gay” — is sending a “message to the pro-family community” to “drop dead.”

Since Romney has more or less sewn up the Republican nomination, a number of evangelical leaders and conservatives in general have gotten behind him. This latest appointment by Romney may kill the deal. I’m curious to see what Mark DeMoss, who is the evangelical liaison for Mitt Romney, is going to say about the Grenell appointment. DeMoss is on the board of directors of Liberty University. He’s probably the one who arranged to have Romney speak at the Christian university where there’s something of a revolt going on among the students.

Doug Wead writes:

To announce [that Romney was going to speak at Liberty] on the same day as the Richard Grenell announcement is a clumsy attempt to show respect to both the evangelical and gay communities. Instead it shows that the Romney campaign understands neither one.

If Romney thought he was going to gain some support in the very small homosexual community by appointing the openly homosexual Grenell as his national security and foreign policy spokesman and then accepting an invitation to speak at Liberty University, he’s delusional.

Read More at Godfather Politics. By Gary DeMar.

Photo Credit: Donkey Hotey (Creative Commons)

The coming chaos from the Obama-Soertoro playbook



America and the world today is in chaos. Wars, rumors of wars, high gasoline prices, increasing food prices, growing divisions among races and between classes, current and impending financial collapses dominate the headlines. Critics and detractors of Barack Hussein Obama claim that it is a result of his failed policies that our house and much of the world is in such disarray. Investigation into the man known as Barack Hussein Obama II and the people behind him suggests otherwise.

The chaos that presently exists domestically and across the globe is destined to get worse, but it’s not due to Obama’s inexperience or failed policies. Rather, it is the direct result of the implementation of his successful policies. The chaos in which we find ourselves is exactly what has been planned for decades. Chaos is the tactic, the means to an end, and not the result of failure of policy by the man known as Barack Hussein Obama II.

We have seen only the tip of the full frontal assault of the chaos planned for this country. Actually, we haven’t seen anything yet.

Investigative findings suggest that our present state of disorder was crafted long ago, compliments of a shadowy cabal of government leaders and their often unwitting lackeys, complicit media moguls and their eye-candy mouthpieces, and ideologues intent on changing the United States and thus the world. While this might sound like a bad fictional plot from the film noir genre, a good bit of investigation indicates otherwise.

Before dismissing such musings as delusional fodder, carefully consider the current state of our country – and the world – and start to connect the dots, stepping backwards chronologically. As you do, understand that the traditional right-left political paradigm with which we’ve been indoctrinated no longer exists, except as a distraction to the viewers and listeners of political talk shows hosted by highly paid ornaments who dutifully adhere to narrow scripts of approved show content.

Read More at Canada Free Press. By Doug Hagmann.

Joel Kotkin: The Great California Exodus

‘California is God’s best moment,” says Joel Kotkin. “It’s the best place in the world to live.” Or at least it used to be.

Mr. Kotkin, one of the nation’s premier demographers, left his native New York City in 1971 to enroll at the University of California, Berkeley. The state was a far-out paradise for hipsters who had grown up listening to the Mamas & the Papas’ iconic “California Dreamin'” and the Beach Boys’ “California Girls.” But it also attracted young, ambitious people “who had a lot of dreams, wanted to build big companies.” Think Intel, Apple and Hewlett-Packard.

Now, however, the Golden State’s fastest-growing entity is government and its biggest product is red tape. The first thing that comes to many American minds when you mention California isn’t Hollywood or tanned girls on a beach, but Greece. Many progressives in California take that as a compliment since Greeks are ostensibly happier. But as Mr. Kotkin notes, Californians are increasingly pursuing happiness elsewhere.

Nearly four million more people have left the Golden State in the last two decades than have come from other states. This is a sharp reversal from the 1980s, when 100,000 more Americans were settling in California each year than were leaving. According to Mr. Kotkin, most of those leaving are between the ages of 5 and 14 or 34 to 45. In other words, young families.

The scruffy-looking urban studies professor at Chapman University in Orange, Calif., has been studying and writing on demographic and geographic trends for 30 years. Part of California’s dysfunction, he says, stems from state and local government restrictions on development. These policies have artificially limited housing supply and put a premium on real estate in coastal regions.

Read More at The Wall Street Journal. By Allysia Finley.

Obama reverts to 2008 plan: Blame Bush

No sooner had Mitt Romney effectively locked up the Republican presidential nomination than President Obama began to sharpen his attacks — on former President George W. Bush.

In pushing for a tax increase this week on millionaires, Mr. Obama said an unfair impact of tax cuts for the wealthy were enacted during the “eight years before I took office.” A White House spokesman argued that Mr. Bush’s tax policies contributed to “global economic chaos.”

Administration officials also took verbal swipes after North Korea’s unsuccessful missile launch last week, accusing Mr. Bush of having rewarded North Korea with food aid years ago in spite of its nuclear weapons activities.

Mr. Obama has criticized the Bush administration’s policies in the past, but the attacks of the past two weeks have been more direct and specific.

“In a poker game, this would be called a ‘tell,’ ” said Steve Schmidt, who managed Republican John McCain’s presidential bid in 2008. “It’s a signal about what the campaign is going to be. From the perspective of the Obama campaign, they’re trying to have a debate about things other than the president’s economic record.”

Read More at The Washington Times. By Dave Boyer.

New Photo Shows Bloodied Back of Zimmerman’s Head



George Zimmerman surprised a Florida court today by taking the stand and apologizing to the parents of Trayvon Martin, who were sitting in the courtroom during Zimmerman’s bond hearing.

“I am sorry for the loss of your son. I did not know how old he was. I thought he was a little bit older than I was,” Zimmerman said addressing Martin’s family directly.

Zimmerman took the stand wearing a dark suit with his hands shackled to a belt around his waist.

His surprising testimony came the same day that ABC News exclusively obtained a photograph showing the bloodied back of Zimmerman’s head, which was apparently taken three minutes after he shot and killed Martin. The photo could give credence to Zimmerman’s claim that Martin had bashed his head against the concrete as Zimmerman fought for his life.

The bond hearing concluded this morning with Judge Kenneth Lester agreeing to allow Zimmerman, who is charged with second degree murder, to post a $150,000 bond to get out of jail. The prosecution had argued that Zimmerman should be denied bail or that it should be set at $1 million.

Read More at ABC News. By Matt Gutman and Seni Tienabeso, ABC News.

Did Libya Fire Rockets At Israel?

An Israeli defense official says rockets fired from Egypt toward Israel this month were smuggled from Libya.

Israel says at least two rockets were launched from Egypt’s Sinai desert at the Israeli resort town of Eilat. No one was hurt. Egypt denies the rockets were fired from its territory.

Libya has become an illicit source of weapons since the fall of dictator Moammar Gadhafi last year.

The Israeli official, speaking on condition of anonymity according to military regulations, says Israel believes the rockets were stolen from a Libyan weapons storehouse and smuggled into Egypt.

The official said Friday that Libyan rockets were also smuggled into the Gaza Strip and were launched into Israel this month.

Read More at OfficialWire. By Daniel Estrin, AP.

Photo Credit: ekelly80 (Creative Commons)

Central Planning for Dummies: There Will Be QE

For several years now I have been sounding the alarm that if you want to be engaged in the financial markets you need to assume that markets are being managed (rigged) more aggressively than at any moment in any of our lives. The Bernank and others on Wall Street and the District of Criminals understand that the situation is pretty much hopeless. Ever since 2008 they have had one strategy. From a monetary and fiscal standpoint, that strategy has been to pump massive amounts of liquidity into the system while at the same time borrow enormous amounts of money. The thinking was that this would stabilize the situation, create confidence and thus ultimately a dynamic sustainable recovery. They certainly bought a few years with this plan but confidence has not returned, nor has there been any sustainable recovery. What we need to understand at the moment is that The Bernank and all of his fellow Keynesian Central Planning magicians know that they have failed. This is why he is running around on college campuses presenting his sad and intellectually dishonest presentation of propaganda that even a six year old could refute. In fact several people have done just that. Here is one good article on it. Moreover, Jim Grant recently gave an incredible speech at the belly of the beast itself -The New York Federal Reserve –where he completely undresses the Fed right to their face. You must read this one.

So what we need to understand is that we are in one of the most dangerous phases of this crisis at the moment. The priests of fiat are being attacked from all sides. People have awoken to the Fed and how criminal and deceitful this organization is and the existential threat it poses to economic freedom and hence human liberty. The arguments against the Fed are blistering and the only rebuttal the Fed has is to spout the same old nonsense like “we saved the world” or some trite derivative of this fallacy. The only thing they saved are untalented speculators from their bad bets. What the Fed has systematically done is literally transfer all of the bad debts and bets from the banks to the taxpayer. We are living this reality to this day. This fact is becoming increasingly understood throughout society, hence the emergence of the tea party and then last year’s Occupy Wall Street movement. So the thing I want my readers to really internalize is that the Fed and indeed TPTB generally are getting slaughtered in the intellectual arena and they know it. As a result, they feel cornered and will thus act increasingly aggressive to prove they are right and everyone else is wrong.

As I have said many, many times before, The Bernank needs to create more money and he knows it. He is irate beyond belief that his academic theories have not worked. He is furious that he can’t make the housing market come back to life. He is having a temper tantrum that people actually have the nerve to link printing trillions of dollars to the rise in commodity prices. He wants to launch QE3 this quarter but he feels like public opinion is against him (he’s right) and Obama is having his own little panic attack about gasoline prices and the election. So what’s a Central Planner to do? Well, exactly what they have been doing as of late. Lie.

Read More at libertyblitzkrieg.com