By FITSNews || “Happy times are here again …” errr … wait a minute …
Stocks slumped Friday morning after an unexpected decline in U.S. retail sales took investors by surprise. According to the U.S. Department of Commerce, retail sales slid by 1.2 percent in May (including a 1.7 percent decline in auto sales). Forecasters had predicted that retail sales would increase by two-tenths of a percent, but apparently the economic “growth” we’re experiencing wasn’t quite as “robust” as they thought.
Heh-heh, heh-heh … we said “robust.”
Ironically, the retail letdown came on the same day that a report was issued showing consumer confidence on the rise in America. In fact, the University of Michigan’s consumer sentiment index showed a larger gain than analysts anticipated, which many claim is a sign that the so-called “recovery” is finally beginning to take hold.
Hmmmm …
As we’ve said from the beginning of the current recession, it will be a miracle if American capitalism survives the socialist onslaught of the past three years. And if it does, it will be in spite of – not because of – the unprecedented Keynesian interventionism championed by the leaders of both political parties in Washington, D.C.
By Chris Falter June 11, 2010 at 1:32 pm
Speaking of the rise of socialism, it looks like the Chamber of Commerce and GOP House leader Boehner have joined the Socialist International. They agree that the risks of doing business should be socialized and paid for by you and me, the American taxpayer. Evidence: they recently stated that the federal government (i.e., all of us taxpayers) should bear the cost of cleaning BP’s oil spill. I guess Boehner and the Chamber of Commerce think that private corporations should get to reap the upside but not have to experience any downside consequences of their decisions. See http://www.huffingtonpost.com/2010/06/10/chamber-of-commerce-says_n_607748.html for details.
By No Name June 11, 2010 at 1:33 pm
Deflation is something Bailout Ben has studied…. but is powerless to do anything about.
By Paris Sailin June 11, 2010 at 4:09 pm
First of all, the stock market rallied today, up 250 points to over 10,000 on the DJIA.
Second, this creeping socialism meme is a joke. First of all, the largest single “socialist takeover” of big business was our purchase of 80% of AIG negotiated and consummated by Comrade George W. Bush.
Third, the share of our (the Federal Government’s) total business holdings including Fannie Mae, Freddy Mac, US Postal Service, AIG, and our share of General Motors, among others is .008% of GNP. That number is not even large enough to show on an Excel spread sheet, it would round down to the next number.
This socialism thing is a phony meme designed to philosophically prop up further (as if they need it), the predominance of Corporatists in our political and social structure, (not to mention, to laughably claim that Obama and the Democrats are Trotskyites instead of the other more compassionate shade of Capitalist Criminal Corporate Lackeys that they are.
Milwaukee, where I grew up, had Socialist mayors for over 30 years because of its heavy German and Polish immigrant population. Any European will tell you that the Communist and Socialist Parties are parts of the leftist coalition, like Conservatives and Republicans are in the rightist coalition.
Anyhow, when Milwaukee had Socialist mayors, it also had the reputation for the cleanest government, the cleanest streets, the best and most responsive and accessible city services, the most non-corrupt police department, and was the first city to have a network of free neighborhood health clinics back in the early 50s.
Oh, the horror!!
By TaylorSC June 11, 2010 at 4:54 pm
Paris Sailin, makes my day when you come out with the simple truth.
By Paris Sailin June 11, 2010 at 6:26 pm
Thanks, TaylorSC
The only Socialist I know of with any influence these days, is Senator Bernie Sanders (I-VT) who votes with the Democratic caucus. He calls himself an “Independent,” but if pressed would tell you proudly that he is a Socialist from way back.
Talk about somebody that Tea Partiers and Lefties like me alike would enjoy having a beer with! He is as nice a person, well-spoken, caring of his fellow Americans (all of them), and respectful as anyone in Washington DC has ever been.
This is not a scary guy with scary politics. He is a true populist with a plan.
By Boz Martin June 11, 2010 at 7:15 pm
DANG, Y’ALL!
Let’s see, US Chamber of Commerce, Spartanburg Chambrer of Commerce, Myrtle Beach Chamber of Commerce … is there a Chamber of Commerce anywhere these days that is really for the small business people … or it it all just a socialist or fascist scam/scheme?
I think you’re REALLY on to something here, Will …
And I’m sure you know where I’m going with this ….
GOOGLE, BRING ON DA BOTS NOW, LETS BUMP DIS MOTHAH UP!!!!!!!!
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http://www.fitsnews.com/2010/05/21/coastal-sc-campiagn-finance-scandal-begins-to-unravel/
Coastal SC Campaign Finance Scandal Begins To Unravel
By fitsnews • on May 21, 2010
By FITSNews || Just call it “envelope-gate.” Or the “Coastal kickback.”
Either way, new life was breathed into a major S.C. campaign finance scandal when it was revealed Friday that the president of the Myrtle Beach Area Chamber of Commerce handed U.S. Congressman (and current Republican gubernatorial nominee) Gresham Barrett an envelope full of checks from a shady network of “shell” corporations. Barrett received $84,000 worth of contributions in an envelope handed to him by Chamber president Brad Dean – part of more than $320,000 doled out to public officials as alleged payback for their support of a tax hike that routed millions of dollars into the Chamber’s coffers.
The chairman of the Chamber’s board, Brant Branham, also acknowledged doling out contributions to local elected officials.
Previously, the Chamber had repeatedly denied having any connection to the suspicious funds – which were administered by a former Chamber board member and which many believe originated from the revenue created by the tax increase.
From The (Myrtle Beach) Sun News:
Barrett’s money was among $324,500 in donations given to him, four City Council incumbents and seven state legislators in the months after the council members and state legislators passed laws that allowed the sales tax increase in Myrtle Beach.
Money from that tax is given to the chamber for tourism advertising purposes.
Brant Branham, the chamber’s board chairman, also has insisted for months that there is no tie between the chamber and the campaign contributions. Branham said he solicited the contributions on his own from “like-minded businessmen and women.”
Branham also said he “delivered these contributions to candidates that deserve re-election.”
S.C. Reps. Thad Viers, Nelson Hardwick, George Hearn and Alan Clemmons were among the candidates receiving contributions from this network of “shell” companies, as was S.C. Sen. Ray Cleary. With the exception of Viers, each of those lawmakers is considered to be on the fiscally liberal end of the Republican spectrum.
The only lawmaker who refused to accept the money was S.C. Rep. Tracy Edge, who like Viers is more fiscally conservative.
The chronology on the donations is highly suspicious – and has some alleging that the entire scam was orchestrated by the chamber as a massive “kickback” to the officials who supported the tax hike.
In the Spring of 2009, Horry County’s state legislative delegation pushed through a state law enabling the City Council to approve a new “ad tax,” which it did. The proceeds from that tax hike began accruing to the Myrtle Beach Area Chamber of Commerce on August 1 of this year.
Shortly thereafter, politicians began receiving their money.
Two months ago, FITS wrote a story concerning the glaring lack of investigation into this matter.
It’s good to see The Sun News doing its job and staying on top of things … and we hear from our sources on the coast that bigger stories are coming soon.
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By Wynn Ugglee June 11, 2010 at 8:30 pm
Do these people have anything to do do with Nelson Hardwick, that drunk good old boy in surfside beach that narrowly defeated young Mande Wilkes for rep from their district? Wasn’t he caught up in that chamber of commerce scandal somehow?
By Wynn Ugglee June 11, 2010 at 8:45 pm
If the Jaycees are the Junior Chamber of Commerce, are they little Eichmans, then? and why are they all so old if they are juniors and not seniors? The ones where I live used to have minstral shows when I was a kid.
By Wynn Ugglee June 11, 2010 at 10:45 pm
Didn’t Nelson Hardwick take some of that dirty Chamber of Commerce money like Gresham Barrett did? only not so much? Seems like I remember something about that. not sure tho.
By James the Foot Soldier June 12, 2010 at 10:55 pm
Paris – two points:
FIRST:
It is COMMUNISM when government takes over private sector companies.
SECOND:
Go back to Milwaukee ya yankee turd.
By Paris Sailin June 13, 2010 at 8:54 am
James – two points:
FIRST:
If that is what you believe is the definition of Communism, then George W. Bush is a COMMUNIST sympathizer, fellow-traveler, fifth-columnist because he took government control of AIG?
SECOND:
We’re all Americans now. Look it up.
By James the Foot Soldier June 13, 2010 at 10:00 am
Yes, w was a piece of shit communist by the end of his presidency and Amerika’s current regime leader (w-lite) makes Vladimir Putin look like a T.E.A. Partier.
Furthermore…I’ve looked it up….Wisonsin is the land of cheese-heads…I can see why you moved….now load up your Prius and move back.
By Paris Sailin June 13, 2010 at 12:07 pm
James the Foot Soldier,
Wow, such stunning insights. And so well put!
I know that I speak for most of us Badger State natives and for most of our fellow Americans, when I say that it is our fondest wish in life to someday be almost as witty and clever as you think you are.
ps: You really need to see someone about that anger-management issue.
By Boz Martin June 13, 2010 at 1:19 pm
Wynn Ugglee, yeah, old drunk-ass Nelson Hardwick got the pay-to-play envelope money too, but I think he got it from Shep Guyton, not Brad Dean, the head honcho of the Myrtle Beach Area Chamber of Commerce and Political Payoffs/Bribes Clearing House.
As for Bush, yeah, he sucked balls too, who doesn’t know that by now? So did Cheney, the whole Haliburton and Blackwater deal was Crony Capitalism at its worse, and exactly what Ike warned us about on his way out.
The only reason that Obama is down on the US Chamber of Commerce is that so far he hasn’t found a way to control them via the SEIU. When and if he ever does, we’re all fucked beyond belief.
And speaking of tyrants and oligararchs and petty mandarins and feudal lords and banna republic kingpins, and their double-dealing, double, dipping ways, you know what? Nikki Haley ain’t in that game …
AND …
She will be:
1) The FIRST NON-CAUCASIAN GOVERNOR of South Carolina.
2) The FIRST FEMALE GOVERNOR of South Carolina
3) The FIRST NON-CAUSASIAN FEMALE GOVERNOR IN THE UNITED STATES.
I repeat, Nikki Haley will be the first non-caucasian female Governor in the United States. Meaning she will make history in a truly dynamic way, and give the lie to the authoritarian left’s absurd propaganda about the whole Tea Party movement being about old racist white men packing heat and stashing bombs in their basements to bring down the government.
Haven’t heard about that from the media in the state, region, nation or world?
Won’t be the first time The Buzzman figured something out way ahead of them … or ferreted out information they were trying to suppress and shouted it through my megaphone.
It’s a gift. Someday before I take leave of the world this side of dirt, I will make it pay, bigtime, and my heirs will profit greatly thereby.
The point is not self-congratulatory hyperbole (though it sure is fun!), but to underscore the fact that Haley is making more history every moment … while Gresham Barrett is muttering and stuttering and sputtering his way to political oblivion.
Wonder if Brad “Tax and Spin” Dean of the Myrtle Beach Area Chamber of Commerce and those crony capitalist oligarchs who own him have wondered whether or not the 80 thousand bucks in their “Clearing House” envelope was money well spent?
And WHEN, WHEN, WHEN will Gresham Barrett come back down here to the land of Sun Fun, so we can all thank him personally for whatever the hell he did to earn that money?
And when will some of you supposedly brilliant and enlightened journalists — left, right, in between or above it all — who visit this blog several times a day — grow the balls to take on Barrett and Dean directly for their parts in one of the most heinously socialistic fascistic crony capitalism pay-for-pay cum land-grab schemes in US history.
Come on, earn your keep, get yer hand out of yer pants and start digging into this shit, fer Jebus sake!!!!