Author Archives: PEB
Private Sector is Doing Fine – 31 Aug 12 Edition
“The private sector is doing fine” ~ President Obama
“I think he’s really defining what it means to be out of touch with reality.” ~ Willard Mitt Romney
In the 2nd Quarter the following earnings were reported by the private sector:
Yahoo reported $1.08 billion
Facebook reported $1.2 billion
EBay reported $3.4 billion
Macy’s reported $6.12 billion
Travelers reported $6.36 billion
McDonald’s reported $6.92 billion
Morgan Stanley reported $7 billion
Best Buy reported $10.55 billion
Amazon.com reported $12.8 billion
Google reported $12.21 billion
United Parcel Service (UPS) reported $13.4 billion
Coca-Cola reported $13.09 billion
Intel reported $13.5 billion
Dell reported $14.5 billion
Pfizer reported $15.1 billion
Johnson & Johnson reported $16.5 billion
Microsoft reported $18.06 billion
Citigroup reported $18.4 billion
Procter & Gamble reported $20.2 billion
Bank of America reported $22.2 billion
IBM reported $25.8 billion
Verizon reported $28.6 billion
AT&T reported $31.6 billion
Following are third quarter earnings:
Hewlett-Packard reported $29.7 billion
Following are fourth quarter earnings:
News Corp. reported $8.4 billion
Cisco reported $11.7 billion
The private sector added 163,000 jobs in July, according to the ADP report. Analysts had been expecting an increase of 120,000.
The Conference Board’s gauge of consumer confidence rose to 65.9 in July from 62.7 in June, better than the 61.5 economists expected.
The manufacturing sector in the U.S. Midwest expanded at a slightly swifter pace in July than it did the month before. The Institute for Supply Management-Chicago’s PMI gauge came in at 53.7, higher than expectations of 52.5 and a reading of 52.9 in June.
Home prices in 20 major U.S. metropolitan areas climbed 2.2% in May from the month before on a non-seasonally adjusted basis, according the S&P/Case-Shiller report. That came in stronger than the 1.5% gain economists expected.
Sales of existing homes rose 2.3% in July from June to an annualized rate of 4.47 million units, according to the National Association of Realtors.
U.S. pending home sales rose 2.4% in July from June, topping the 1% expected and hitting the highest level since April 2010. Sales were up 12.4% from a year ago.
U.S. housing starts jumped 6.9% in June from May to a 760,000-unit rate, topping estimates of a 745,000-unit rate and marking the highest rate since October 2008.
The Labor Department reported producer prices climbed 0.3% in July from June, the fastest pace in five months. Analysts expected an increase of 0.2%. Excluding the food and energy components, prices were up 0.4%, also more than the 0.2% increase forecast.
The Commerce Department reported that building permits rose 6.8% to a rate of 812,000, the highest level in four years.
Retail sales climbed 0.8% in July from June, the largest increase since February and a bigger gain than the 0.3% economists expected.
The consumer sentiment reading of the Thomson Reuters/University of Michigan survey showed consumer sentiment increased to 73.6 in early August from July’s final reading of 72.3. The August preliminary reading topped forecasts for an increase to 72.4 and marked the highest level since May.
Sales of new single-family homes rose 3.6% in July from June to an annualized rate of 372,000 units. Analysts were expecting an annualized rate of 365,000 units.
The broad S&P 500 struck its highest level since May 2008 on 21 Aug 12, while the Dow is sitting less than 60 points beneath its highest point since the end of 2007. Meanwhile, oil futures are jumping 1.5% as the U.S. dollar sinks to its lowest level since early July.
The Markit Flash U.S. Manufacturing PMI rose to 51.9 in August from 51.4 in July, the first monthly increase in five months. Readings over 50 point to expansion while readings below 50 indicate contraction.
Orders for long-lasting U.S. goods rose 4.2% in July from June, blowing past estimates of a 2.4% increase. Excluding the transportation segment, orders were down 0.4%, missing estimates of a 0.5% gain.
A second reading on U.S. gross domestic product showed the economy expanded at an annualized rate of 1.7% in the second quarter, in line with economists’ estimates and faster than an initial estimate of 1.5%.
The S&P/Case-Shiller composite index of 20 metropolitan areas shows home prices rose 2.3% in June from May on a non-seasonally adjusted basis, a bigger gain than the 1.6% expected. Prices were up 0.5% from the same period a year earlier in the first increase since September 2010.
Personal spending rose 0.4% in July from June, as expected, to the highest level since February. Personal income rose 0.3%, also as expected.
A final reading on consumer sentiment for the month of August checked in at 74.3, higher than a preliminary reading of 73.6, according to a survey by Thomson Reuters and the University of Michigan.
Stock Market was 8077.56 on 19 Jan 09 and 13,090.84 on 31 Aug 12
Who’s out of touch Mitt?
Reasons Why I Can’t Vote for Romney – 31 August Edition
The ever expanding list of reasons as to why I can’t vote for Willard Mitt Romney because he:
31 Aug 12 – Continues to lie about President Obama’s record, spokes person said the campaign won’t be influenced by fact checking – meaning they’ll lie about whatever and whenever they choose.
Lied during his acceptance speech about President Obama saying he went on an apology tour after being inaugurated, cut $716 billion dollars from Medicare, raised taxes on the middle class and had thrown Israel under the bus.
Allowed VP pick Paul Ryan to give a speech full of lies.
Allowed Clint Eastwood to stand up on stage at age 82 and make a fool out of himself turning a Hollywood icon into the Court Jester.
20 Aug 12 – Lied about President Obama ending welfare to work.
12 Jul 12 – Lied to the Securities and Exchange Commission (SEC) about his role at Bain Capital; possibly committed a felony.
12 Jul 12 – Lied about when he left Bain Capital
16 Jun 12 – Said he’d do opposite of everything President Obama’s done for Israel
14 Jun 12 – Said it was OK to fire public sector employees
12 Jun 12 – Claimed he wanted to serve in Vietnam although granted multiple deferments
09 Jun12 – Thinks we have too many teachers, fire fighters and police officers
05 Jun 12 –Confirmed earlier confirmation there’s a village missing him
30 May 12 –Has morons on his team –misspells America on campaign iPhone app
29 May 12 – Chose to chum around with Trump
18 May 12 –Confirmed there’s a village missing him
11 May 12 –Joked about bullying a fellow student in high school
09 May 12 – Lied about saving the auto industry
19 Apr 12 – Refused to release Tax Returns and lied about John Kerry
17 Apr 12 – Failed to denounce Ted Nugent
14 Apr 12 – Thought “struggling” in college wass divesting some of your stock portfolio
11 Apr 12 – Willard didn’t know what the Lilly Ledbetter Act was
29 Mar 12 – Told a “humorous” story about firing people
29 mar 12 – Accepted campaign money from Pink Slime producer
28 Mar 12 – Supported Scott Walker
27 Mar 12 – Thought the Soviet Union’s still our number one threat
19 Mar 12 – Said he’d push back against “evil” teachers unions
23 Feb 12 – Lied about requiring Massachusetts’ non-profit hospitals to provide emergency contraception
10 Feb 12 –Claimed only Americans place hand over heart to show how much we love our country
01 Feb 12 – Said he “Doesn’t Worry About the Poor”
27 Jan 12 – Failed to Report Interest Earned in His Off Shore Accounts
27 Jan 12 – Lied about his Fannie and Freddie investments being in a blind trust
18 Jan 12 – Stashed Millions in Offshore Accounts
17 Jan 12 – Said $362,000 in Speaking Fees is ‘Not Very Much’?
11 Jan 12 – Believes class warfare is about envy
09 Jan 12 – Vetoed contraception bill for rape victims as governor
09 Jan 12 – Claimed he “likes to fire people”
05 Jan 12 – He released tax plan, steal from the poor and give to the rich
04 Jan 12 – Said Big Bird would get the boot
13 Dec 11 – Bet Perry $10k during a debate
28 Nov 11 – Constantly flip-flops
23 Nov 11 – Said false ad’s ok
14 Nov 11 – Said he’d prepare for war with Iran
08 Oct 11 – Lied to cadets at the Citadel
22 Sep 11 – Claimed to be middle class
06 Sep 11 – He released economic plan favors the rich over everyone else
11 Aug 11 – Said “corporations are people”
05 Aug 11 – Pledged himself to evangelical group
01 Aug 11 – Opposed deal on debt ceiling
06 Jul 11 – Lied about the economy
Romney scores zip with Black Voters?
It’s no surprise President Barack Obama’s beating Republican Tea Party (GOTP) presidential wannabe Willard Mitt Romney among African American voters, but what’s really surprising is how badly.
A NBC/Wall Street Journal poll has reported it’s by a staggering 94 percent to 0 percent; that’s worse than John McCain, that’s worse than any GOTP candidate ever, and that’s really saying something. Romney scored zero percent among Black voters – zero, nobody, nothing…
But wait that’s not all, the President’s also beating Willard among Latinos, voters under 35 and women.
According to a Hart Research Survey poll conducted in Virginia, Florida, Ohio, Iowa, Colorado and Nevada, women prefer President Obama to Romney 53% to 39%.
On top of that, 81% of the women said they were less likely to vote for Romney since he’s chosen Paul Ryan as a running mate, or that the choice made no difference to them at all.
The NBC/Wall Street Journal poll also shows the President has a commanding lead among Latino voters 63% to 28% over Romney.
So, can Willard Mitt Romney win the White House with no support among Black voters, 28% support among Latinos and 39% among women? Not likely, and the reinvention convention isn’t likely to give much of any bump to a campaign clearly lacking in likability.
Latest 2012 Presidential Polls – 28 Aug 12 Edition
With ten (10) weeks to go until the November election Republican Tea Party (GOTP) presidential wanna-be Willard Mitt Romney’s supposed to be receiving the accolades of the party faithful in Tampa, FL but instead the “reinvention convention’s” been delayed because of Hurricane Isaac, and he’s dealing with rumors New Jersey Gov Chris Christie was his first VP choice but turned it down because he believes Romney can’t win. Additionally, Romney’s having to confront the mess created by GOTP Senate candidates declaring no abortions under any circumstances, and woman can’t get pregnant from rape..
So, how does the GOTP candidate stand up against the President?
The last favorability CBS News poll of registered voters conducted from 22 – 26 Aug 12, showed the President with a 41% favorability rating compared to Romney’s 31%.
So, who’s more electable right now?
In the most recent viable’ national poll(s) – which are any group other than the Washington Times or Rasmussen (which are generally always skewed not just to the right, but far to the right) – the most recent CBS News poll of registered voters conducted from 22 – 26 Aug 12, if the general election were held today:
President Obama 46/Romney 45
The most recent Gallup Tracking poll of registered voters conducted 20 – 26 Aug 12, if the general election were held today:
President Obama 46/Romney 47
The most current ABC News/Wash Post poll of registered voters conducted from 22 – 25 Aug 12, if the general election were held today:
President Obama 46/Romney 47
The most current CNN/Opinion Research poll of likely voters conducted from 22 – 23 Aug 12, if the general election were held today:
President Obama 49/Romney 47
The most recent Associated Press/GfK poll of registered voters conducted 16 – 20 Aug 12, if the general election were held today:
President Obama 47/Romney 46
And finally, the most recent NBC News/Wall St. Jrnl poll of registered voters conducted 16 – 20 Aug 12, if the general election were held today:
President Obama 48/Romney 44
If the general election was held today, according to national polls, Willard Mitt Romney loses to President Obama in the general election, and according to state polls, if the General Election were held TODAY (note these are based on current poll numbers – not projections), the Electoral College totals based on all available current poll numbers the President defeats Romney 347/191:
Results of 10 consecutive simulations based on poll data as of 28 Aug 12
Obama 299/239
Obama 332/206
Obama 347/191
Obama 306/232
Obama 276/262
Obama 288/250
Obama 312/226
Obama 337/201
Obama 273/265
Obama 270/268
Of 10 simulations Romney wins zero as the President beats him most of the time by comfortable margins.
The simulations use cumulative polling data by state and are not based off of national polling data.
Romney Makes Birth Certificate Joke?
According to news reports, Republican Tea Party (GOTP) presidential hopeful, Willard Mitt Romney made a joke about his birth certificate at a rally in Michigan while trying to make a connection – any connection – with his home state. Reportedly Willard said, “No one’s ever asked to see my birth certificate. They know that this is the place that we were born and raised.”
Wow, really? Maybe no one ever asked you because you’re not black, and you don’t have an Islamic surname name?
Of course Willard’s attempt at levity received enthusiastic applause from his audience, but then again these are the same kinds of people who cheered executions in Texas as well as the hypothetical death of a man with no health insurance during the GOTP primary debates.
The President’s campaign spokesman Ben LaBolt said Romney was embracing the most extreme elements in the conservative movement.
“Throughout this campaign, Governor Romney has embraced the most strident voices in his party instead of standing up to them,” he said. “It’s one thing to give the stage in Tampa to Donald Trump, Sheriff Arpaio, and Kris Kobach. But Governor Romney’s decision to directly enlist himself in the birther movement should give pause to any rational voter across America.”
Romney claims he believes President Obama was born in the United States, “I think the citizenship test has been passed. I believe the president was born in the United States. There are real reasons to get this guy out of office,” he told Larry Kudlow in April 2011. “The man needs to be taken out of office but his citizenship isn’t the reason why.”
So, why make a lame joke about birth certificates then? Still trying to connect with the extreme right of the party perhaps? Worried they might vote for someone else? It was a brainless thing to do whatever the reason and makes him look desperate to everyone but his most ardent followers.
The Liberty Tree 