New Jobs – The Tally So Far

One of the things President Trump said he would focus on is jobs. He started on that even before we was sworn into office. I’m going to work to keep that information posted on this blog. If I miss an update, please feel free to send a link to a news update to aretheykidding@gmail.com and put “New Jobs” in the subject line or something similar that will catch my attention.

Here’s where we are so far and if I miss any – share others in the comments and I’ll add them. Definitely want to be sure to give the president and his administration credit for their work AND their accomplishments.

  • 2/08/2017: Intel pledged $7 billion investment in Arizona, creating 10,000 jobs!
  • 01/17/2017: GM pledges $1 billion in manufacturing to create 1,500 new jobs (see #10 below)
  • 12/28/2016: Sprint and OneWeb announces it’s creating and saving 8,000 jobs (see #6 below)
  • 11/29/2016: Carrier pledges to create 1,000 new jobs (see #8 below)

This is from an article from one of my favorite Economic blogs

The following are 10 companies that have promised to add jobs in the United States since the election of Donald Trump…

#1 Kroger says that it intends to fill 10,000 permanent positions in the United States this year.

#2 IBM has announced that it will be hiring an additional 25,000 workers in the United States over the next four years.

#3 Foxconn is considering setting up a 7 billion dollar plant in the United States that would create between 30,000 and 50,000 jobs.

#4 Amazon.com has pledged to add 100,000 full-time jobs in the United States by mid-2018.

#5 Wal-Mart has announced that it plans to add approximately 10,000 retail jobs in the United States in 2017.

#6 Sprint has announced that 5,000 jobs will be brought back to the United States instead of going overseas.

#7 After meeting with Trump, the CEO of SoftBank stated his intention to create 50,000 new jobs in the United States.

#8 After a phone call from Trump, industrial manufacturing giant Carrier promised to keep hundreds of jobs in the United States instead of moving them out of the country.

#9 Hyundai has promised to spend 3.1 billion dollars supporting their current factories in Georgia and Alabama, and they have said that they are now considering adding an additional factory in the United States as well.

#10 GM has pledged to invest a billion dollars in U.S. factories and to add or keep 7,000 jobs in the United States.

(Check the links above for articles with more details.)

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Obama Death Blow to the Coal Industry?

Obama has made no secret of the fact that he wants to kill off the coal industry – he wants to end the use of fossil fuels of any kind and replace them with “green energy”. The potential “costs” to the taxpayers is of no consequence to him – like everything else, his ideology and fulfilling his ideals is the only thing that matters. It will be interesting to see if that changes now that he won’t be “playing” with our money anymore.

In his rush to do as many things before this time in office ends – he has another order that goes into effect mere hours before he is gone. This one could have a major impact on the coal industry IF Congress cannot gather the votes to overturn it. And if Congress can collect the votes, I’d bet our new president, would be very happy to veto this one –

Capozzola: Obama Issues Last-Minute Rule, Wants to Finish Off U.S. Coal Industry

In a rather vindictive move, his Interior Department’s Office of Surface Mining (OSM) is out with a broad new “stream rule” that could potentially designate as much as two-thirds of U.S. coal reserves off-limits to mining. In fact, a study of the rule suggests that at least one-third of America’s remaining coal jobs could be put at risk due to the restrictive nature of the rule.

The president has certainly chosen one heck of a last-minute Christmas present. The rule will actually take effect exactly one day before Donald Trump’s inauguration—thereby imposing a very late obstacle to the new administration’s quest to craft a more pragmatic energy policy.

The full text of the new regulation clocks roughly 1,640 pages. And despite OSM’s legal obligation to consult with state agencies, the final rule was drafted without the input of key mining states. What’s particularly troubling is that the regulation simply duplicates the existing oversight already being conducted by the Environmental Protection Agency, the Army Corps of Engineers, the Fish and Wildlife Service, and various states agencies.

Significantly, the actual language being proffered by OSM suggests that the minutiae of the rule is happily intended to kill off the nation’s coal industry. OSM says the rule will “result in the protection or restoration of 22 miles of intermittent and perennial streams per year.” Essentially, the rule bans mining within 100 feet of these streams, which establishes a fairly broad mandate since intermittent streams are one of the typical features of almost every wooded area in North America.

Read the full post here – http://www.breitbart.com/big-government/2016/12/22/president-obama-issues-last-minute-rule-wants-to-finish-off-u-s-coal-industry/

35 Percent Of Americans Are At Least 180 Days Past Due

Many of us have found the last eight years to be very tough financially – I had a record year in my business 7 years ago. The following year, things started to slow down and things have been tougher each year since then.  After a major health crisis last year which quite literally decimated my small business – I’ve had to struggle to keep even more than normal to pay every bill. Its truly crazy to have to struggle so much and I’m very aware that I’m not alone in this struggle. The statistics in the following article were definitely eye opening and I had to share it. Please take a few minutes to read it – I’ve been watching the election coverage and the rallies. The idea of creating jobs, rebuilding a strong America and finally increasing our economy is music to my ears —

Drowning In Debt: 35 Percent Of All Americans Have Debt That Is At Least 180 Days Past Due

More than a third of all Americans can’t pay their debts.  I don’t know about you, but to me that is a shocking figure.  As you will see below, 35 percent of the people living in this country have debt in collections.  When a debt is in  collections, it is at least 180 days past due.  And this is happening during the “economic recovery” that the mainstream media keeps touting, although the truth is that Barack Obama is going to be the only president in United States history to never have a single year when the economy grew by at least 3 percent.  But at least things are fairly stable for the moment, and if this many Americans are having trouble paying their bills right now, what are things going to look like when the economy becomes extremely unstable once again.

The 35 percent figure is a nugget that I discovered in a CNN article about Detroit that I was reading earlier today

And the city’s troubles have left a mark on the financial stability of its residents in a big way, according to a new report from the Urban Institute.

About 66% of residents have debt in collections — meaning more than 180 days past due — at a median amount of $1,847. Across the U.S., 35% of Americans have debt in collections.

It is hard to believe that 66 percent of the residents of one of our largest cities could have debt in collections, but without a doubt the city of Detroit is a complete and utter economic wasteland at this point.

But to me, the 35 percent figure for the nation as a whole is a much greater concern.

And much of the debt that is in collections is credit card debt.

In the immediate aftermath of the last financial crisis, many Americans started getting out of debt, and that was a very good thing.

Unfortunately, that trend has completely reversed itself over the past few years, and now credit card balances are rising at a pace that is quite alarming

Using data from the U.S. Census Bureau and the Federal Reserve, ValuePenguin found that the average credit card debt for households that carry a balance is a shocking $16,048 — a figure that has risen by 10% over the past three years. At the average variable credit card interest rate of 16.1%, this translates to nearly $2,600 in credit card interest alone. And many credit cards have interest rates much higher than the average.

Even scarier, consider that based on the average interest rate and a minimum payment of 1.5% of the balance, it would take nearly 14 years for the typical indebted household to pay off its existing credit card debt, at a staggering cost of more than $40,200. Keep in mind that this assumes no additional credit card debt is added to the tab along the way.

Those that have been there know exactly how it feels to be drowning in credit card debt.

You know, they don’t teach you about credit cards in high school or in college.  At least they didn’t in my day.  So once I got out into the “real world” and discovered the joy of instantly getting whatever I wanted with a credit card, I didn’t understand how painful it would be to pay that money back someday.

If you have credit card balances that are out of control, they can keep you up late into the night.  The worry and the fear can eat away at you like a cancer, and many people play a game of moving balances from one card to another in a desperate attempt to stay afloat.

Fortunately I learned my hard lessons at an early enough age to get things turned around.  Now I warn others about the danger of credit card debt through my writing, and my hope is that the things that I share on my websites are doing some good for others that may be struggling financially.

When you are deep in debt, it is exceedingly difficult to build up any wealth of your own.  This is one of the primary reasons why 69 percent of all Americans have less than $1,000 in savings today.

In essence, more than two-thirds of the country is living paycheck to paycheck, and that is a recipe for disaster when the next major economic downturn in the U.S. strikes.

Overall, household debt in America has now reached a grand total of 12.3 trillion dollars.  When you break that down, it comes to $38,557 for every man, woman and child in the entire nation.

So for a family of five, your share of that total would be $192,785.

And remember, that is just household debt.  That total does not include any form of business debt or any form of government debt.

We truly are a “buy now, pay later” society.  We were the wealthiest and most prosperous nation on the entire planet, and previous generations handed us the keys to the greatest economic machine in world history, but that wasn’t good enough for us.

We always had to have more, more, more – and now we have accumulated more debt than any society in the history of the globe.

It is inevitable that this giant debt bubble is going to burst.  Anyone with an ounce of common sense can see that.

What we experienced in 2008 was just a preview of the hard times that are coming.  The next recession is going to be even worse, and most economists are convinced that it will happen within the next four years no matter who is elected president in November.  The following comes from the Wall Street Journal via the Calculated Risk blog

Economists in The Wall Street Journal’s latest monthly survey of economists put the odds of the next downturn happening within the next four years at nearly 60%.

Just like the last time around, millions of those that are “living on the edge” financially will fall out of the middle class and into poverty when they lose their jobs.

Hopefully most of you that have been reading my work for an extended period of time have already been getting out of debt and have been building up a financial cushion.

Sadly, most of the country continues to act as if they are living in a pre-2008 world, and the economic wake up call that is coming is going to be incredibly painful for those that thought they could get away with being exceedingly reckless financially.

Originally posted on the Economic Collapse Blog – http://theeconomiccollapseblog.com/archives/drowning-in-debt-35-percent-of-all-americans-have-debt-that-is-at-least-180-days-past-due

Its The Economy Stupid – How Messed Up is the US Economy

Excerpts from a thorough article about the “state of the US economy”….

19 Very Surprising Facts About The Messed Up State Of The U.S. Economy

#1 After accounting for inflation, median household income in the United States is 8 percent lower than it was when the last recession started in 2007.

#2 The number of part-time workers in America has increased by 54 percent since the last recession began in December 2007.  Meanwhile, the number of full-time jobs has dropped by more than a million over that same time period.

#3 More than 7 million Americans that are currently working part-time jobs would actually like to have full-time jobs.

#4 The jobs gained during this “recovery” pay an average of 23 percent less than the jobs that were lost during the last recession.

#5 The number of unemployed workers that have completely given up looking for work is twice as high now as it was when the last recession began in December 2007.

#6 When the last recession began, about 17 percent of all unemployed workers had been out of work for six months or longer.  Today, that number sits at just above 34 percent.

#7 Due to a lack of decent jobs, half of all college graduates are still relying on their parents financially when they are two years out of school.

#8 According to a new method of calculating poverty devised by the U.S. Census Bureau, the state of California currently has a poverty rate of23.4 percent.

#9 According to the New York Times, the “typical American household” is now worth 36 percent less than it was worth a decade ago.

#10 In 2007, the average household in the top 5 percent had 16.5 times as much wealth as the average household overall.  But now the average household in the top 5 percent has 24 times as much wealth as the average household overall.

#11 In an absolutely stunning development, the rate of small business ownership in the United States has plunged to an all-time low.

#12 Subprime loans now make up 31 percent of all auto loans in America.  Didn’t that end up really badly when the housing industry tried the same thing?

#13 The average cost of producing a barrel of shale oil in the United States is approximately 85 dollars.  Now that the price of oil is starting to slip under that number, the “shale boom” in America could turn into a bust very rapidly.

#14 On a purchasing power basis, China now actually has a larger economy than the United States does.

#15 It is hard to believe, but there are 49 million people that are dealing with food insecurity in America today.

#16 There are six banks in the United States that pretty much everyone agrees fit into the “too big to fail” category.  Five of them have more than 40 trillion dollars of exposure to derivatives.

#17 The 113 top earning employees at the Federal Reserve headquarters in Washington D.C. make an average of $246,506 a year.  It turns out that ruining the U.S. economy is a very lucrative profession.

#18 We are told that the federal deficit is under control, but the truth is that the U.S. national debt increased by more than a trillion dollarsduring fiscal year 2014.

#19 An astounding 40 million dollars has been spent just on vacations for Barack Obama and his family.  Perhaps he figures that if we are going down as a nation anyway, he might as well enjoy the ride.

To read the remainder of the article – http://theeconomiccollapseblog.com/archives/19-very-surprising-facts-about-the-messed-up-state-of-the-u-s-economy

Heritage Report – Obamacare Enrollment Increase From Medicaid Expansion

Obama brags that Obamaare is working well. Hmmm – if you’d like the nitty gritty on some parts of the so called “Affordable Care Act”, check out this report…

Abstract

Health insurance enrollment data show that the number of Americans with private health insurance coverage increased by a bit less than 2.5 million in the first half of 2014. While enrollment in individual market coverage grew by almost 6.3 million, 61 percent of that gain was offset by a reduction of nearly 3.8 million individuals with employer-sponsored coverage. During the same period, Medicaid enrollment increased by almost 6.1 million—principally as a result of Obamacare expanding eligibility to able-bodied, working-age adults. Consequently, 71 percent of the combined increase in health insurance coverage during the first half of 2014 was attributable to 25 states and the District of Columbia adopting the Obamacare Medicaid expansion.

To read the report and very thorough breakdown – http://www.heritage.org/research/reports/2014/10/obamacares-enrollment-increase-mainly-due-to-medicaid-expansion

Digging Into the Financial Situation in the US

Stock Market October 2014

In the first 9 minutes that the stock market was open today, the market fell 360 points. The market was been very volatile lately and this week it hasn’t calmed down at all. There were periodicla breaking news alerts that went out throughout the day to announce the drastic drops and partial rebounds.

But what about taking a deeper look at what is happening with the economy. I was just reading an article and wanted to share an excerpt from it. I’ll also include the link at the bottom of the page to read the full article – I really enjoy articles by Michael Snyder and he usually provides plenty of links to more details about the points he includes in his pieces.

9 Ominous Signals Coming From The Financial Markets That We Have Not Seen In Years

The following are 9 ominous signals coming from the financial markets that we have not seen in years…

#1 By the time the markets closed on Monday, we had witnessed the biggest three day decline for U.S. stocks since 2011.

#2 On Monday, the S&P 500 moved below its 200 day moving average for the first time in about two years.  The last time this happened after such an extended streak of success, the S&P 500 ended up declining by a total of 22 percent.

#3 This week the put-call ratio actually moved higher than it was at any point during the collapse of Lehman Brothers in 2008.  This is an indication that there is a tremendous amount of fear on Wall Street right now.

#4 Everybody is watching the VIX at the moment.  According to the Economic Policy Journal, the VIX has now risen to the highest level that it has been since the heart of the European debt crisis.  This is another indicator that there is extraordinary fear on Wall Street…

US stock market volatility has jumped to the highest since the eurozone debt crisis, according to a closely watched index, the the CBOE Vix index of implied US share price volatility.

It jumped to 24.6 late on Monday and is up again this morning. On Thursday, it was as low as 15.

That’s a very strong move, but things have been much worse. At height of the recent financial crisis – the Vix index peaked at 80.1 in November 2008.

Could we get there again? Yeah.

#5 The price of oil is crashing.  This also happened in 2008 just before the financial crisis erupted.  At this point, the price of oil is now the lowest that it has been in more than two years.

#6 As Chris Kimble has pointed out, the chart for the Dow has formed a “Doji Star topping pattern”.  We also saw this happen in 2007.  Could this be an indication that we are on the verge of another stock market crash similar to what happened in 2008?

#7 Canadian stocks are actually doing even worse than U.S. stocks.  At this point, Canadian stocks have already dropped more than 10 percent from the peak of the market.

#8 European stocks have also had a very rough month.  For example, German stocks have already dropped about 10 percent since July, and there are growing concerns about the overall health of the German economy.

#9 The wealthy are hoarding cash and precious metals right now.  In fact, one British news report stated that sales of gold bars to wealthy customers are up 243 percent so far this year.

So what comes next?

To read the full article, visit – http://www.dcclothesline.com/2014/10/15/9-ominous-signals-coming-financial-markets-seen-years/

A Few Words from the Grey Haired Brigade About the 2014 Elections

I got this in my email this evening – and thought out blog readers might enjoy it. Feel free to share….
You and I are Members, Don’t Delete, Just Read and Pass on
The typical U.S. household headed by a person age 65 or older has a net worth 47 times greater than a household headed by someone under 35, according to an analysis of census data released Monday.
They like to refer to us as senior citizens, old fogies, geezers, and in some cases dinosaurs. Some of us are “Baby Boomers” getting ready to retire.
Others have been retired for some time. We walk a little slower these days and our eyes and hearing are not what they once were.  We worked hard, raised our children, worshiped our God and grown old together.  Yes, we  are the ones some refer to as being over the hill, and that is probably true.
But before writing us off completely, there are a few things that need to be taken into consideration.  In school we studied English, history, math, and science which enabled us to lead America into the technological age.  Most of us remember what outhouses were, many of us with firsthand experience. We remember the days of telephone party-lines,  25 cent gasoline, and milk and ice being delivered to our homes.  For those of you who don’t know what an icebox is, today they are electric and referred to as refrigerators.  A few even remember when cars were started with a crank. Yes, we lived those days.
We are probably considered old fashioned and out-dated by many. But there are a few things you need to remember before completely writing us off.  We won World War II, fought in Korea and Viet Nam . We can quote The Pledge of Allegiance, and know where to place our hand while doing so.  We wore the uniform of our country with pride and lost many friends on the battlefield. We didn’t fight for the Socialist States of America; we fought for the “Land of the Free and the Home of the Brave.” We wore different uniforms but carried the same flag.  We know the words to the Star Spangled Banner , America , and America the Beautiful by heart, and you may even see some tears running down our cheeks as we sing. We have lived what many of you have only read in history books and we feel no obligation to apologize to anyone for 
America.
Yes, we are old and slow these days but rest assured, we have at least one good fight left in us.  We have loved this country, fought for it, and died for it, and now we are going to save it.  It is our country and nobody is going to take it away from us. We took oaths to defend America against all enemies, foreign and domestic, and that is an oath we plan to keep. There are those who want to destroy this land we love but,like our founders, there is no way we are going to remain silent.
It was mostly the young people of this nation who elected Obama and the DemocraticCongress.  You fell for the “Hope and Change” which in reality was nothing but “Hype and Lies.”   The youngsters have tasted socialism and seen evil face to face, and have found they don’t like it 
after all.  They make a lot of noise, but most are all too interested in their careers or “Climbing the Social Ladder” to be involved in such mundane things as patriotism and voting. Many of those who fell for the “Great Lie” in 2008 are now having buyer’s remorse.
 
With all the education we gave you, you didn’t have sense enough to see through the lies and instead drank the ‘Kool-Aid.’ Now you’re paying the price and complaining about it.  No jobs, lost mortgages, higher taxes, and less freedom.  This is what they voted for and this is what they got. We entrusted them with the Torch of Liberty and they traded it for a paycheck and a fancy house.
Well, don’t worry youngsters, the Grey-Haired Brigade is here, and in 2014 we are going to take back our nation.  We may drive a little slower than you would like but we get where we’re going, and in 2014 we’re going to the polls by the millions.This land does not belong to the man in the White House nor to the likes of Nancy Pelosi,  Harry Reid, and Eric Holder.  It belongs to “We the People” and “We the People” plan to reclaim our land and our freedom.  We hope this time you will do a better job of preserving it and passing it along to our grand-children.
So, the next time you have the chance to say the Pledge of Allegiance, Stand up, put your hand over your heart, honor our country, and thank God for the old geezers of the “Grey-Haired Brigade.”

 

Can you feel the ground shaking???
It’s not an earthquake, it is a STAMPEDE!