Republicans Laugh, Americans Cry

MARTIN CRUTSINGER, an AP Economics Writer in Washington on July 24, 2008, in his news report article on the ABC news on line tell us, "The National Association of Realtors reported that sales dropped by 2.6 percent last month to a seasonally adjusted annual rate of 4.86 million units. That was more than double the decline that had been expected and left sales 15.5 percent below where they were a year ago."


He also wrote, "The downward slide in sales depressed prices, too. The median price for a home sold in June dropped to $215,100, down by 6.1 percent from a year ago. That was the fifth largest year-over-year price drop on record."


Yet Bush with his Republican Administration crack jokes about the economy and Wall Street?

Associated Press Business Writer, STEPHEN BERNARD in NEW YORK, yesterday July 23, 2008, reported in his business news, "Student lender SLM Corp., more commonly known as Sallie Mae, said Wednesday its second-quarter profit plunged 72 percent as funding costs remained high amid further weakening in the credit markets and the company took charges related to its restructuring.Net income fell to $266 million, or 50 cents per share, during the second quarter, from $966 million..."

Why do Republicans laugh at stuff like this?

DEE-ANN DURBIN and TOM KRISHER AP Auto Writers in DEARBORN, Mich. July 24, 2008, inform their news readers, "Ford Motor Co. posted the worst quarterly performance in its history Thursday, losing $8.67 billion in the second quarter."

How do Bush and his Republican Administration find a joke in our failing economy?

A Reporting by Kyle Peterson, from the Reuters News Service Chicago, Ill. July 23, 2008, appeared on ABC news website. In Peterson's reporting he gives us some insight on Northwest airlines dilemma.

Kyle's report states, "Northwest Airlines Corp reported a quarterly net loss on Wednesday, reversing a year-earlier profit, on skyrocketing fuel prices. The carrier, which plans to merge with Delta Air Lines Inc , said its second-quarter net loss amounted to $377 million, or $1.43 per share, compared with a profit of $2.1 billion a year earlier."

Where is the Joke in this?

Steve Hargreaves, a New York staff writer of CNN Money.com July 24 2008, gives us these details, "The government charged an oil trading firm Thursday with manipulating oil prices in the first complaint to be announced since the regulators began a new investigation into wrongdoings in the energy markets. The Commodity Futures Trading Commission accused Optiver Holding, two of its subsidiaries and three employees with manipulation and attempted manipulation of crude oil, heating oil and gasoline futures on the New York Mercantile Exchange."

How is this funny?

Still it is hard to get to the truth when we have to deal with manipulating reporting like the on ABC news money beat correspondent Bianna Golodryga. Her title, "Who's to Blame for High Gas Prices? You" on July 23, 2008, says it all.

Why do the Republicans keep claiming that it is the American people's fault for our bad economy? How many jokes do the Republicans have blaming the American people off camera that we do not know about? And how much longer will the American people put up with the Republicans insulting and smearing the American people?

Home Values Drop With Plummetting Prices

Tuesday a government report gave a 4.8 percent drop in home prices. Yet the percentage of dropping prices were a lot higher in other parts of the country.

Just four months ago, my husband and I went to our bank to see about refinancing our home into a 30 year fixed. But because the value of our home had already dropped approximately $150,000.00, while making our home almost $50,000.00 less in value than what we owed on our home, our bank was 'UNWILLING' to refinance with no money out on a 30 year fixed. We were stuck. Out contract with a finance loan company was sold to a different company in November 2007, when it was brought to their attention that our loan was suppose to be a 30 year fixed, and not an Adjustable Rate. When we originally did that refinancing back in December 2006 it was the Notary, who had the finance company on speed dial of his cell phone, told us that according to the Finance company the information of the 30 year fixed was just worded differently because it was just that type of wording, but not to worry it did mean a 30 year fixed. So under duress both my husband and I signed. Since December 2006 a lot has changed.

But why was the bank unwilling to refinance our home? The drop in home value just did not make any sense to us.

Well, according to the bank's home financing person, it was the homes as far as 10 to 25 miles from my home that did their quick sells, lowering their home prices below what they owed their Financial institutions in mortgage that caused my home to plummet in value.

Three months ago my friend's home, at the other end of town, had dropped $200,000.00 in value.

Just this month a friend of mine who lives up in Washington State in the Pacific Northwest was in shock to find out that the value of her home had decreased by $100,000.00 as well. However, just last month the news were reporting that Washington State with 9 other states were doing far better than the rest of the country and not loosing any of their home values.

It is now four months later after that trip to my bank. I am even more shocked to find out that the value of my home was lowered at least another $100,000.00.

Still my government keeps bailing out the same Financial Companies and Banks that are responsible for ripping off and lying to the homeowners.

Now isn't that a kick in the head?

Slashing The Job Market

Wachovia Bank is now cutting jobs due to their large second quarter loss this year.

So far for these past six months many jobs have been lost to either cutbacks or leaving the country, as businesses back track to gain some ground during these economic hard times. The Airlines, the different auto manufacturers, stores, restaurants, real estate, construction, many different mortgage companies, many different credit card companies, many different banks, many different manufacturing companies, many different packaging companies, many different distribution centers, the different telephone companies, many different medical clinics and hospitals have cut back, reports of cuts during the past seven years has even hit some police departments in different cities and other law enforcement agencies, and the list goes on.

But has job loss only been for these past six months? What about the High Tech Engineer and Program jobs? What about the Customer Service jobs? Look over jobs lost and cut backs since Bush took office in 2001. It began with Bush and his Republican Administration Outsourcing of jobs. And every year since other job industries would report lay-offs and cut backs do to the Roller-Coaster Bush Economy. Yet, the jobs loss would only be here in the U.S.A. and never in the companies other plants or business offices over seas. In fact, none of their overseas company opperations had any job loss at all.

For the past seven years the Bush administration logo in describing the cause of the economic hard times has been 'THE LACK OF CONSUMER SPENDING'. Let's face it, according to the Republicans, it is always 'Our Fault'.

What caused the lack-of-consumer-spending?

Well, remember the words of GW Bush in 2002, "America is NO longer a High--Tech--Country. America is Now a Service Country."

And remember when GW Bush said on national TV, "Americans NO longer have the 'INTELLIGENCE', knowledge or skills for the High Tech Industry."

Thanks to Bush and his administration the secure permanent high tech jobs left our country, leaving many Americans unemployed and scrambling for high tech temporary jobs in their field of which they qualify for with no medical insurance and no retirement plan benifit. Temporary jobs are only for a few months. When the jobs are over, the workers are scrambling to get another job with other consulting firms in the contracting industry to work for that company's client. The jobs available are too few and far in-between. Keeping up with the latest technologies is not hard for those like my husband who do have the Education, Skills, and Intelligence (which Bush denies). My husband is in his late 50s now, having been going through the job scarcity in his field for the last seven years, thanks to Bush and his Republican Administration.

And thanks to Bush and his Republican Administration, we lost a lot of the High Tech Engineers who quit their field because of Bush and his 'ANTI HIGH TECH' workers attitude since 2002.

Is it any wonder that consumer spending has been down during these past seven years?
Does it take a 'Rocket Scientist' to figure out that Bush and his Republican Administration have been calling the American People 'too dumb' to work high tech jobs for the past seven years?
Or hasn't anyone else figured that out yet?

Was Friday's Drop, Monday Rise All Speculation?

On ABC news online, Adam Schreck, the Associated Press Business Writer reported on the oil price creeping back up on Monday after it had slipped down on Friday, July 18 2008.

There were talks on the horizon for that weekend, with speculation of a positive resolve that lowered the price of oil barrels on Friday. Yet, there was no credit to the upcoming Saturday talks on Friday and what they, the traders and buyers, were hoping for. In fact, in reading the Money and Business News on Friday the only credit of the oil plunging in price was given to the oil companies and their oil executives and to George W Bush and his Republican Administration. Yes, even the on line money and business news writers and television reporters on Friday and this past weekend were all trying to convince us that the up swing in oil prices was over and that we should be expecting a recovery of lower prices at the pump for the rest of the year. "Oh, Really?"

However, it wasn't until Monday, July 21 2008, when we are finally given the truth."The talks didn't resolve the problem of Iran's nuclear program, and that has been a factor in prices ticking higher today," What was that? Who was that? Did David Moore, a commodity strategist in Sydney Australia just admit that the oil prices fluctuate according to the 'POLITICS' of the day? "Part of the reason prices had fallen recently was on the expectation a deal could be made there." Did the commodity strategist just state that Friday's price drop in oil was only based on 'Speculation'?

'Oil prices also rose Monday on concerns that Tropical Storm Dolly may disrupt oil operations in the Gulf of Mexico, Moore said.' Was another reason for Mondays rise in the price per oil barrel due to more 'Speculation'?

When will the average American Citizen be told the truth? Is it demand, or is it 'Speculation'? The News Media, the Reporters are all suppose to be reporting the news. However all, we seem to get is Oil top executives and Corporate interests, Wall Street, and Republicans manipulation of the news.

Someone is laughing--all--the--way--to--the--bank, and it's 'NOT' me.