Will 2013 be 1937? This is the question many analysts are posing as the stock market has dropped after the U.S. election. On Nov. 16, they noted that industrial production, a crucial figure, dropped as well. In this case, “1937” means a market drop similar to the one after the re-election of another Democratic president, Franklin D. Roosevelt, in 1936. The drop wasn’t immediate in that case; it came in the first full year after the election. Industrial production plummeted by 34.5 percent.
One big difference is that the real rate of unemployment is being hidden today. Tens of millions are now dependent on the wide array of government programs and are effectively ´´out of the workforce´´.
I caught an interesting tidbit last night, when our PBS station ran Ken Burns´ documentary on the drought of the 1930s. FDR and his advisors tried really hard to come up with a way to rescue the farmers and small town people, and FDR told them that no one could figure out what to do. That to tell them otherwise would be dishonest. But FDR visited the dust bowl, and the next day it rained. The folks there called it Roosevelt rain. Now let´s see if you people can connect the dots about what I said, to president zero.
My grandmother was a farmwife who despised FDR and wanted one of her 10 children to someday write a book about him & call it ´The Rape of the American Farmer´. His ideas of subsidies killed many farms & she never let her children forget.
Intereting parallel in a fascinating article. It describes the fiscal situation in the US and draws on history to warn us what may lie ahead. Only the people have changed - the script remains the same. History is an indispensable teacher.
In Europe, we also have the eerie rumblings of the events of almost a hundred years ago. Think trigger points. When Gavrilo Princip assassinated the heir to Austria´s throne to protest the seizure of Bosnia by the northerners, it propelled Europe into a destructive war that brought it to its knees and ushered in a new world order. I see similar discontent in countries like Spain and Greece where the opposition to the German financial complex is widespread.
DAMASCUS, Syria — Syrian government forces backed by Lebanese Hezbollah militants forged ahead with their assault on a key rebel district in the central city of Homs Sunday, activists said, as President Bashar Assad’s forces try to crush resistance in the few remaining opposition-held neighborhoods in the city known as the ‘‘capital of the revolution.’’ The push on Homs is part of a broader government offensive on rebel-held areas that has seen regime troops retake some of the territory they have lost to opposition fighters in Syria’s more than 2-year-old conflict.
Egyptian military officials said Saturday that the army has prohibited ?fishing boats from operating off the coast of the Sinai peninsula near the Gaza Strip until further notice. According to the officials, the purpose of the move, which has been implemented since Thursday, is to prevent Palestinian Jihad terrorists from infiltrating Egypt via the Mediterranean Sea. According to a source in the Egyptian army, Ynet reported, the success in the closing off of smuggling tunnels on the Egypt-Gaza border has lead to infiltration attempts ??by boat. Recently, the source added,
Cairo - Egypt´s high command said on Wednesday the army was ready to die to defend Egypt´s people against terrorists and fools, in a response to Islamist President Mohamed Mursi that was headlined "The Final Hours". The post on the official Facebook page of the Supreme Council of the Armed Forces (SCAF), headed by armed forces chief General Abdel Fattah al-Sisi, said: "We swear to God that we will sacrifice even our blood for Egypt and its people, to defend them against any terrorist, radical or fool." Issued three hours after Mursi appeared on television to reject an ultimatum from
(NICOSIA) - The president of Cyprus assured his people a bailout deal he struck with the European Union was in their best interests, but banks will remain closed until Thursday - and even then subject to capital controls to prevent a run on deposits. Returned from fraught negotiations in Brussels, President Nicos Anastasiades said late on Monday the 10-billion euro ($13 billion) rescue plan agreed there in the early hours of the morning was "painful" but essential to avoid economic meltdown. He agreed to close down the second-largest bank, Cyprus Popular, and inflict heavy losses on big
The United Nations will launch an investigation into Syrian claims that rebels used chemical weapons against its troops, even as U.S. officials told CNN Thursday that initial intelligence reports suggest no such weapons were used. The announcement follows days of claims by the Syrian government and rebel that the each used chemical weapons against the other side, allegations that have raised concern the ongoing civil war had entered a new, more deadly phase. U.S. President Barack Obama and other American officials have said in recent days there was no evidence to substantiate the reports that
Stocks turned lower in choppy trading Tuesday, with the euro tumbling to its lowest level since November, amid worries that Cyprus will reject its bailout plan. The Dow Jones Industrial Average turned lower, dragged by Caterpillar. If the blue-chip index closes lower, it will log its first three-day losing streak this year. The S&P 500 and the Nasdaq also tilted lower. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, jumped near 15. Among key S&P sectors, consumer staples held modest gains, while energy slumped.
Cyprus´ embattled president was on Sunday in talks with Brussels and political rivals to ease the terms of a planned levy on smaller deposit holders as he tried to scrape together a parliamentary majority for a €10 billion bailout for the debt-laden island. President Nicos Anastasiades is still intending to raise €5.8 billion from Cypriot bank accounts to help fund the bailout, an unprecedented move by the eurozone that could yet spark wider concern about the safety of bank deposits in the bloc. Cypriot authorities were weighing an additional bank holiday on Tuesday pending emergency parliamentary ratification of the deal which would
President Assad Bashar is running out of government troops to fight off rebels, a new report detailing the Syrian leader’s recruitment effort suggests. A Sunni cleric close to Mr. Assad — grand mufti Sheik Ahmad Badr al Deen Hassoun — has issued a decree for more military recruits, The Guardian reports. The decree suggests a dire need; if volunteers don’t step up, the government may start enforcing its compulsory service authorities, The Guardian says.
JERUSALEM — An influential Republican senator has called Jerusalem the capital of Israel, taking a stand on an explosive issue between Israel and the Palestinians. The fate of Jerusalem is one of the most intractable issues in the Mideast conflict with both Israelis and Palestinians claiming rights to the city. In his first official visit to the country, Florida Sen. Marco Rubio told Israel’s president on Wednesday that Jerusalem is “of course the capital of your country.” He reiterated America’s bipartisan support for Israel.
Iran and Hezbollah, its Lebanese proxy, are building a network of militias inside Syria to preserve and protect their interests in the event that President Bashar al-Assad’s government falls or is forced to retreat from Damascus, according to U.S. and Middle Eastern officials. The militias are fighting alongside Syrian government forces to keep Assad in power. But officials believe Iran’s long-term goal is to have reliable operatives in place in the event that Syria fractures into separate ethnic and sectarian enclaves. A senior Obama administration official cited Iranian claims that Tehran was backing as many as 50,000 militiamen in Syria.
The main purpose of US President Barack Obama´s visit to Israel in the spring is to warn Prime Minister Binyamin Netanyahu against attacking Iran, unnamed officials told Army Radio on Sunday. According to the officials, the urgency of the trip is because in his speech to the United Nations in September, Netanyahu had flagged the spring of 2013 as a significant time in the context of the Iranian nuclear threat. Therefore, they said, Obama is concerned that the prime minister will decide to attack Iran now when he is backed by
(Jerusalem) - A research center that Syria said had been hit by an Israeli air strike last week appears to have remained unscathed in the attack, according to satellite images broadcast by Israeli television on Wednesday. Diplomats, Syrian rebels and security sources said Israeli jets had bombed a convoy near the Lebanese border last week, apparently hitting weapons destined for the Lebanese militant group Hezbollah, which fought a 34-day war with Israel in 2006. Syria denied the assertions, saying the target was the Jamraya military research complex on the northwestern fringes of Damascus, 8 miles from the border.
Colin Powell has admitted to exchanging ´very personal´ emails with a Romanian diplomat but denies having an affair with the much younger woman after a hacker threatened to release their intimate messages. The 76-year-old retired general told the Smoking Gun that he met Corina Cretu, 45, roughly 10 years ago when she was working as an assistant to the president of Romania. She is now a member of the European Parliament. ´After I left the Department of State in January 2005 we stayed in touch via email,´ he told TSG.
CNN has uncovered exclusive new information about what is allegedly happening at the CIA, in the wake of the deadly Benghazi terror attack. Four Americans, including Ambassador Christopher Stevens, were killed in the assault by armed militants last September 11 in eastern Libya. Sources now tell CNN dozens of people working for the CIA were on the ground that night, and that the agency is going to great lengths to make sure whatever it was doing, remains a secret. CNN has learned the CIA is involved in what one source calls an unprecedented attempt to keep the spy
Serial sexter Anthony Weiner’s wife partly blamed herself last year when her horndog husband confessed to her that he was at it again. Friends and family told People magazine that Huma Abedin was kicking herself at the time for bailing out of couples counseling and focusing more on their newborn baby boy. But, thanks to a new round of joint therapy that continues even now, the couple was able to put the relapse behind them. “They really became a unit, and she feels much closer to Anthony now,” a relative told the magazine. That’s a long way from how Abedin
The United States will temporarily shut down its embassies and consulates around the world Sunday, including those in Iraq, Afghanistan and Egypt, as a precautionary measure, the State Department said Thursday. State Department spokeswoman Marie Harf did not say how long the international installations would stay closed -- only that the decision was taken “out of an abundance of caution and care for our employees and others who may be visiting.” Sunday is a normal workday in many Arab and Middle Eastern countries. Embassies in Europe and Latin America would be shuttered that day anyway.
In preparation for the release of Oscar-bait film The Butler, Forest Whitaker, Oprah Winfrey, and director Lee Daniels (Precious) sat down with Parade magazine. The film chronicles a butler (Whitaker) who works in the White House through seven administrations. Winfrey plays the butler’s wife. In the interview, Winfrey explained her sadness that so few Americans know about the history of the civil rights movement: “They don’t know diddly-squat. Diddly-squat.” She then said of the historic use of the n-word, “I always think of the millions of people who heard that as their last
American scientists claim the planet is undergoing one of the largest changes in climate in the past 65 million years. Climatologists at Stanford Woods Institute for the Environment have warned the likely rate of change over the next century will be at least 10 times quicker than any climate shift since the dinosaurs became extinct. If the trend continues at its current rapid pace, it will place significant stress on terrestrial ecosystems around the world, and many species will need to make behavioral, evolutionary or geographic adaptations to survive, they said.
[Video] Ouch. New Jersey Gov. Chris Christie turned down an offer by Sen. Rand Paul to join him for a beer and bury the hatchet in their ongoing -- and very public -- feud. "I´m running for re-election in New Jersey. I don´t really have time for that at the moment," Christie said in an interview on a local radio station. The New Jersey governor said if he finds himself in Washington, "I´ll certainly look him up." But he added: "I don´t suspect I´ll be there anytime soon. I´ve got work to do here."
About 400 area retail and fast-food workers, together with colleagues nationally, participated in a strike Thursday to demand raising the minimum wage to $15 an hour. “If not $15, then something. I mean give us something. I work 36 hours a week and barely make enough to pay my rent, gas bill, light bill. It gets to the point where I barely have enough for lunch sometimes,” said Angel Richardson, 21, who works at McDonald’s. “I’m five months pregnant, what am I going to do in four months? I hope something changes.” The minimum wage is $7.25 nationally and $8.25
Oprah Winfrey said Americans by and large know “diddly-squat” about the history of the civil rights movement. The talk show queen and media mogul made her comments during the promotion of her new film, “The Butler,” about a black man who serves in that capacity through seven administrations at the White House. “They don’t know diddly-squat,” she said in a recent interview with Parade magazine. “Diddly-squat.” Ms. Winfrey also said that when she hears the N-word, she thinks of the “millions of people who heard that as their last word as they were hanging from a tree.”
The administration has popped the bubble of hope some small business had that switching to part-time staff would let them escape the high costs of Obamacare. The Small Business Administration on Thursday created a website to explain to businesses that the government will simply tally up the number of part-time employees firms have to determine if enough hours have been worked to essentially create a "full-time equivalent." Some smaller businesses had thought that if they could get under the 50 full-time employee cap that activates Obamacare by cutting full-time workers and hiring more part-time workers they would escape
Government workers in the city of Seattle have been advised that the terms "citizen" and "brown bag" are potentially offensive and may no longer be used in official documents and discussions. KOMO-TV reports that the city´s Office of Civil Rights instructed city workers in a recent internal memo to avoid using the words because some may find them offensive. "Luckily, we´ve got options," Elliott Bronstein of the Office for Civil Rights wrote in the memo obtained by the station. "For ´citizens,´ how about ´residents?´"
Rep. Charlie Rangel (D-NY) suggested on Friday morning that the tea party movement is comprised of the same types of people who fought against the civil rights movement during the 1960s. Speaking with the Daily Beast, Rangel said of the movement: “It is the same group we faced in the South with those white crackers and the dogs and the police. They didn’t care about how they looked. He added that the tea party movement can be defeated similar to how the civil rights movement eradicated Jim Crow mentality: “It was just fierce indifference to human life that caused