Cutter Stands by Libya Comments, Refuses to Resign

DANVILLE, KY - Obama Deputy Campaign Manager Stephanie Cutter said she would "absolutely not" resign over comments she made earlier today on CNN, asserting that Mitt Romney and Paul Ryan are the "entire reason" the 9/11 Benghazi massacre is a national political issue. She told Townhall she stands by her remarks and referred back to an official written statement before briskly walking away and refusing to answer further questions:

Cutter is here in Danville to spin Vice President Biden's debate performance later tonight. Prior to the debate, she was laughing and socializing with Washington Post reporters in the media center.

The lies and the cover-up of Barack Obama, Joe Biden, Susan Rice, Jay Carney, Stephanie Cutter and the rest of the Barack Obama Administration liars.

Here is a timeline of the situation in Benghazi and the Terrorist attacks on the United States Embassy and the deaths of Christopher Stevens and three others.

http://thpatriots.blogspot.com/2012/10/benghazi-embassy-attack-obama-cover-up_12.html

Foreclosure Stuffing

Back in November 2010, the robosigning scandal hit in which it was made clear that when it comes to keeping track of mortgage titles, nobody really knows what belongs to whom, except maybe for Linda Green. The immediate result of this was a complete collapse in the foreclosure process as banks no longer had leverage to evict those who don't pay their monthly mortgage bills, since the banks couldn't confirm they actually had rights to the underlying mortgage, and the total monthly foreclosure total dropped from a ~330,000 average houses/month to roughly 250,000. Then in February, to much administration fanfare, the banks, and the attorneys general, signed what we dubbed the Robo-settlement: an event which was supposed to be the "resolution" to the robosigning scandal, and which should once again unclog the foreclosure pipeline. This did not happen. Instead, as RealtyTrac has been diligently reporting month after month, the monthly foreclosure total has continued to decline, and in August hit a level of 193,508 total foreclosures. The immediately spin is that this was a 1% improvement from July's 191,925. The reality is that it was a drop of 15.1% from a year earlier. As the chart below shows, ever since the advent of fraudclosure, the average monthly foreclosure total has dropped from a 330K/month average to just 219K. And declining.

So why did the robosettlement not undo the robosigning foreclosure crunch? Simple - foreclosure stuffing.
What happened is that since the properties not entering the foreclosure pipeline are effectively kept out of inventory, even shadow inventory, and thus the distressed end market, the monthly drop in foreclosures has acted as a form of subsidy to the housing market, as month after month less inventory than otherwise should, enters the market.
As the chart above shows, there is now a 2.5 million "backlog" of properties that should be foreclosed upon based on historical trendlines, but which are being completely ignored by banks. A stuffed foreclosure channel, if you will.

http://www.zerohedge.com/news/foreclosure-stuffing

Follow up story...

Charting The 'Housing Recovery' Subsidy: Foreclosures Slide To Five Year Lows

A month ago, when RealtyTrac posted their latest US foreclosure numbers for the month of August, we presented what we called was the "Foreclosure Stuffing" thesis, explaining the explicit subsidy by the banks for the housing market, whereby the entire foreclosure process has now ground to a halt, and in doing so removing millions in inventory flow from the distressed end market, forcing limited buyers to chase what supply there is, and in the process boosting prices of existing inventory higher. In other words a traditional inventory removal-based subsidy. It is therefore not surprising that today RealtyTrac reported the latest foreclosure data, and lo and behold, just as we expected, the great foreclosure collapse has taken another leg lower, with the total number of foreclosures for the month of September sliding to 180.4K, a decrease of 7 percent from the previous month and down 16 percent from September 2011, and the lowest in five years!

http://www.zerohedge.com/news/2012-10-11/charting-housing-recovery-subsidy-foreclosures-slide-five-year-lows


Twinsdad comment:  Banks are MF's!

Gasoline prices high, why?

So, you say demand is high?
Refineries not refining?


How about the prices are high because the economy is so bad no one is going anywhere?

Why would that make prices so high?

Well if you were a refiner you have paid upwards of...(see below)   over the last year, but since the economy sucks thanks to Obama no one is driving anywhere, how do I know this?

Digest this data....

Crude Oil and Commodity Prices
October, Thursday 11 2012 - 16:53:05

WTI Crude Oil
$92.40	▲0.33		0.36%

http://www.oil-price.net/

Now digest this data....

U.S. Total Gasoline Retail Sales by Refiners (Thousand Gallons per Day)

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
1983	46,218.3	48,906.1	54,111.7	49,093.7	52,021.3	52,517.2	51,898.0	51,905.6	52,676.3	50,724.3	51,150.8	51,879.1
1984	54,148.6	55,651.7	57,636.0	56,937.0	58,755.9	60,075.0	59,055.7	59,378.3	56,947.3	57,386.5	58,075.3	56,765.8
1985	54,584.3	53,829.7	57,297.6	59,075.2	57,563.7	58,832.1	58,563.3	58,096.1	56,979.0	56,949.0	58,100.7	60,295.9
1986	55,283.0	58,546.4	61,250.4	62,628.9	65,578.7	63,294.1	62,861.8	61,342.4	60,341.9	60,946.1	61,880.4	62,290.2
1987	56,488.6	60,641.1	61,627.2	61,733.5	61,750.0	64,315.2	62,404.8	62,643.9	59,339.3	60,707.9	58,877.0	61,720.2
1988	57,041.0	59,900.3	61,577.5	61,584.1	60,701.3	62,884.1	61,873.2	62,450.0	61,036.1	60,385.3	59,783.1	63,099.8
1989	55,556.8	58,492.6	60,500.1	60,242.0	62,088.7	63,521.0	62,335.0	63,362.0	61,922.8	61,973.6	61,339.0	63,182.4
1990	58,138.0	57,909.4	59,847.0	59,600.5	60,572.2	63,108.6	61,531.0	63,182.0	60,912.1	60,295.1	60,550.6	58,382.1
1991	56,924.5	59,384.5	61,553.8	61,982.0	62,244.9	63,319.4	62,600.6	62,534.0	60,346.2	61,181.3	60,442.9	61,521.7
1992	56,410.9	58,308.6	59,639.5	59,980.2	59,615.2	60,353.3	60,400.3	59,083.7	58,579.1	59,011.8	56,877.6	59,287.9
1993	53,826.6	57,305.3	57,624.8	58,138.7	57,465.8	60,391.1	58,807.7	58,453.0	57,462.3	55,432.4	55,743.5	56,074.7
1994	51,533.7	54,270.1	55,363.8	54,962.1	55,523.0	57,165.3	55,834.5	56,393.4	54,992.9	54,240.5	54,480.4	55,612.3
1995	51,200.2	54,138.2	55,592.4	55,456.8	56,242.2	58,547.4	56,944.0	58,296.8	56,580.9	55,610.5	55,907.4	56,471.5
1996	53,039.9	54,566.8	56,388.2	57,183.4	57,796.4	59,170.9	58,909.8	59,651.5	57,845.3	58,456.2	58,101.4	59,200.7
1997	54,440.6	57,313.3	58,443.8	58,854.0	57,840.1	59,820.3	65,294.2	64,803.7	63,680.2	64,355.2	62,252.8	66,017.1
1998	59,905.7	62,399.8	64,533.5	59,012.3	59,509.7	60,837.0	67,183.3	66,831.0	65,146.9	65,121.8	63,846.8	65,401.5
1999	60,254.0	62,779.7	63,320.2	63,722.4	63,464.7	64,458.4	62,669.7	61,363.0	59,265.4	60,415.4	59,078.1	62,719.0
2000	54,421.0	59,107.2	60,573.0	57,911.6	60,300.4	63,275.5	62,278.2	63,621.8	63,098.0	61,954.7	62,184.7	62,014.2
2001	58,139.5	61,731.0	62,859.5	62,301.3	62,878.9	65,417.0	62,534.2	64,390.5	62,214.2	60,864.4	60,024.8	60,793.5
2002	60,211.7	63,942.2	62,828.5	63,953.3	64,537.0	64,874.0	64,594.2	66,683.5	62,352.4	63,344.8	63,255.8	63,109.4
2003	60,247.9	60,803.4	60,815.8	61,728.4	66,315.5	66,426.5	66,803.1	66,812.7	63,949.0	64,615.5	63,778.4	63,394.5
2004	57,143.8	58,381.7	59,186.2	59,352.6	58,565.7	58,992.8	59,012.0	59,664.1	57,327.4	57,977.1	57,017.9	58,013.6
2005	54,938.7	58,368.8	58,330.0	59,093.3	59,474.5	61,731.9	61,109.4	61,220.9	57,866.5	57,075.2	59,094.7	59,426.1
2006	56,531.8	59,960.4	59,859.7	61,020.8	60,234.0	61,980.4	61,445.8	62,015.9	59,783.4	60,233.2	58,860.2	57,862.5
2007	54,698.1	56,954.9	57,278.7	57,354.7	58,719.6	60,865.7	58,806.7	60,178.5	57,912.9	57,843.2	56,579.0	54,650.0
2008	53,994.1	56,157.4	55,494.8	56,307.4	56,390.6	55,938.5	54,802.5	55,628.2	53,405.9	55,210.7	54,080.6	53,931.5
2009	51,108.7	50,968.4	51,298.4	51,215.6	50,957.0	50,419.6	49,677.9	49,966.5	48,669.6	48,461.0	47,454.3	47,441.4
2010	44,012.3	44,227.1	45,482.4	46,234.2	46,016.2	46,765.3	45,755.3	45,082.6	43,876.0	43,624.1	42,857.0	42,417.1
2011	40,331.0	40,924.9	41,608.1	41,555.0	41,172.9	42,477.2	42,448.3	42,351.8	41,972.6	32,015.0	30,971.6	30,413.9
2012	28,389.9	29,546.8	29,496.5	29,684.0	30,292.5	31,458.8	30,970.7

http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=A103600001&f=M

Lots of data you say, focus on Jan 2009 to July 2012, notice anything?  Since Obama took over gasoline Retail Sales by Refiners has gone down 21,000 gallons!

Anyone want to explain the high prices at the pump? Ask Obama, if the economy is so great why no gas being consumed?

Back to the topic -- Gasoline prices high, why?  Because the Obama adminstration has failed so miserably that no one is willing to travel, no one is willing to do anything but the bare minimum in driving, just to buy food etc., and then go home and bar the door.  But the refiners need to show a profit to the shareholders, so they refine less and jack up the price!

Any more questions?  Ask them in the voting booth

The CEO Letter Heard Around The World "Vote Obama; Lose Your Job"

Subject: Message from David Siegel
Date:Mon, 08 Oct 2012 13:58:05 -0400 (EDT)
From: [David Siegel]
To: [All employees]

To All My Valued Employees,

As most of you know our company, Westgate Resorts, has continued to succeed in spite of a very dismal economy. There is no question that the economy has changed for the worse and we have not seen any improvement over the past four years. In spite of all of the challenges we have faced, the good news is this: The economy doesn't currently pose a threat to your job. What does threaten your job however, is another 4 years of the same Presidential administration. Of course, as your employer, I can't tell you whom to vote for, and I certainly wouldn't interfere with your right to vote for whomever you choose. In fact, I encourage you to vote for whomever you think will serve your interests the best. [...]

Now, the economy is falling apart and people like me who made all the right decisions and invested in themselves are being forced to bail out all the people who didn't. The people that overspent their paychecks suddenly feel entitled to the same luxuries that I earned and sacrificed 42 years of my life for. Yes, business ownership has its benefits, but the price I've paid is steep and not without wounds. Unfortunately, the costs of running a business have gotten out of control, and let me tell you why: We are being taxed to death and the government thinks we don't pay enough. We pay state taxes, federal taxes, property taxes, sales and use taxes, payroll taxes, workers compensation taxes and unemployment taxes. I even have to hire an entire department to manage all these taxes. The question I have is this: Who is really stimulating the economy? Is it the Government that wants to take money from those who have earned it and give it to those who have not, or is it people like me who built a company out of his garage and directly employs over 7000 people and hosts over 3 million people per year with a great vacation?

Obviously, our present government believes that taking my money is the right economic stimulus for this country. The fact is, if I deducted 50% of your paycheck you'd quit and you wouldn't work here. I mean, why should you? Who wants to get rewarded only 50% of their hard work? Well, that's what happens to me. [...]

Business is at the heart of America and always has been. To restart it, you must stimulate business, not kill it. However, the power brokers in Washington believe redistributing wealth is the essential driver of the American economic engine. Nothing could be further from the truth and this is the type of change they want.

So where am I going with all this? It's quite simple. If any new taxes are levied on me, or my company, as our current President plans, I will have no choice but to reduce the size of this company. Rather than grow this company I will be forced to cut back. This means fewer jobs, less benefits and certainly less opportunity for everyone.

So, when you make your decision to vote, ask yourself, which candidate understands the economics of business ownership and who doesn't? Whose policies will endanger your job? Answer those questions and you should know who might be the one capable of protecting and saving your job. While the media wants to tell you to believe the "1 percenters" are bad, I'm telling you they are not. They create most of the jobs. If you lose your job, it won't be at the hands of the "1%"; it will be at the hands of a political hurricane that swept through this country.

You see, I can no longer support a system that penalizes the productive and gives to the unproductive. My motivation to work and to provide jobs will be destroyed, and with it, so will your opportunities. If that happens, you can find me in the Caribbean sitting on the beach, under a palm tree, retired, and with no employees to worry about.
 Signed, your boss,
 David Siegel

For those unfamiliar with Siegel, he is the founder and CEO of Westgate Resorts, a real estate and timeshare company.
He and his wife were also the subject of the recent documentary "The Queen of Versailles" about their desire to build the largest home in America.
According to Gawker, they were worth over a billion dollars in 2007, but that could be less now as a result of the real estate bust.

http://www.zerohedge.com/news/2012-10-10/ceo-letter-heard-around-world-vote-obama-lose-your-job

Twinsdad comments:

This is an example of a real person telling other real people the truth.

"It's quite simple. If any new taxes are levied on me, or my company, as our current President plans, I will have no choice but to reduce the size of this company."

Those on the left here need to read these words and stop using Big Bird as an election tool.

T'was the night before elections

T'was the night before elections,

And all thru' the town,

Tempers were flaring

Emotions ran up and down.

I, in my bathrobe

With a cat in my lap,

Had shut off the TV,

tired of political crap.

When all of a sudden,

There arose such a noise,

I peered out my window,

Saw Obama and his boys

They had come for my wallet,

They wanted my pay

To hand out to others

Who had not worked a day!

He snatched up my money,

And quick as a wink,

Jumped back on his bandwagon

As I gagged from the stink.

He then rallied his henchmen

Who were pulling his cart.

I could tell they were out

To tear my country apart!

'On Fannie, on Freddie,

On Biden and Ayers!

On Acorn, on Pelosi'

He screamed at the pairs!

They took off for his cause,

And as they flew out of sight,

I heard him laugh at a nation

Who wouldn't stand up and fight!

So I leave you to think on this one final note...

IF YOU DON'T WANT SOCIALISM GET OUT AND VOTE !!!!

Why Putin Wants Obama to Win

Although President Vladimir Putin recently thanked Romney for his openness regarding the "No.1 foe" comment, he also indicated that it would be hard for the Kremlin to work with Romney as president, especially on sensitive security issues such as the missile defense system. During Putin's interview with RT state television, he also called Obama an "honest man who really wants to change much for the better." This comment was widely viewed as Putin's most direct endorsement of Obama in the presidential race.

http://www.themoscowtimes.com/opinion/article/why-putin-wants-obama-to-win/468837.html#ixzz27hxj8SNk

 

"The 2012 U.S. presidential election presents a contrast to the 2008 election in terms of their perceptions by the Russian elite.

In 2008, then-President Dmitry Medvedev expressed a desire to work with a "modern" U.S. leader rather than one "whose eyes are turned back to the past." He was referring to Democratic presidential candidate Barack Obama. But influential Russian elites voiced their support for the Republican candidate, John McCain, despite McCain calling President Vladimir Putin a KGB spy who has no soul and calling to expel Russia from the Group of Eight leading industrial nations.

Even though McCain was more critical of the Kremlin, some members of Putin's entourage favored McCain because they believed he was more predictable than Obama. They insisted that Russia was doing well economically, whereas the United States was losing one position in the world after another. Therefore, when confronted with the U.S. threat, Russia might only get stronger and consolidate its status as a great sovereign power. The elite's main concern is with rebuilding power and geopolitical influence. If McCain were in the White House, the thinking went, Putin would have a convenient anti-Russian bogeyman whom the Kremlin could exploit for domestic political reasons, giving it another pretext to ratchet up its anti-Americanism, increase defense expenditures and crack down on the opposition.

Yet it seems that the Kremlin's support for U.S. hawks is shifting. In March, Medvedev took issue with U.S. presidential candidate Mitt Romney's characterization of Russia as the "No. 1 geopolitical foe." He said the view "smelled of Hollywood stereotypes" and suggested that it was rooted in the Cold War.

But it wasn't only Medvedev and his pro-Western supporters who became critical of the Republican's views. Although President Vladimir Putin recently thanked Romney for his openness regarding the "No.1 foe" comment, he also indicated that it would be hard for the Kremlin to work with Romney as president, especially on sensitive security issues such as the missile defense system. During Putin's interview with RT state television, he also called Obama an "honest man who really wants to change much for the better." This comment was widely viewed as Putin's most direct endorsement of Obama in the presidential race.

The change in Russia's perception can be explained by the sobering effects of the global financial crisis and progress that Russia and the United States have made since 2009. The crisis ended Russia's era of 7 percent average annual growth from 1999 to 2008. Russia, which is overly dependent on energy exports, was hit particularly hard by the 2008 crisis. Its gross domestic product fell about 8.5 percent in 2009, while China and India continued to grow, albeit at a slower pace."

Twinsdads comments:

A weak President bows to dignitaries, turns his back on Israel, and courts Russia's favor in order to make the case that it's time for America to no longer be the leader on the world stage, no longer the defender of rights, just a broke country needing  a shoe shine on the corner to look good, more just  a smoke and mirror paper tiger.  The recent Arab Spring gone south now means Muslims the world over want revenge on America.

I can tell you for sure one of them has already taken his revenge and will continue to, unless we vote him out.  Hint, it ain't Putin we need to vote out.

Two No-Brainer Ways To Play Rising Food Prices

Submitted by Simon Black of Sovereign Man blog,

Last summer, two researchers from the New England Complex Systems Institute published a short paper examining the correlation between rising food prices and civil unrest. It was a timely analysis, to say the least. A number of food riots were occurring throughout the world, not to mention waves of revolution sparked by the high cost of food.
This is nothing new; throughout history whenever people have struggled to put food on the table for their families, social unrest has been a common consequence.
The French Revolution is a classic example; after decades of unsustainable fiscal and monetary practices that wrecked the French economy, the harvest season and subsequent winter of 1788 were particularly harsh. People went hungry, and it ultimately started the revolution.
The researchers' analysis went a step further, though; they modeled the relationship between food prices and social unrest to reach a simple conclusion-- whenever the UN Food and Agricultural Organization (FAO)'s global food price index climbs above 210, conditions ripen for social unrest.

Today, the FAO's food index is at 213... and rising. Netherlands-based Rabobank recently published its own analysis, forecasting further rises in food prices well into the 3rd quarter of 2013.
There are so many factors driving food prices higher. From a demand perspective, world population is growing at an extraordinary rate... plus the rise of billions of people from developing countries (especially in Asia) into the middle class is quickening demand for resource-intensive foods like beef.
From a supply perspective, drought, soil erosion, and reduction of available farmland all put significant pressure on global agricultural output. And finally, from a monetary perspective, the enormous amount of paper currency being printed in the world is finding its way into agricultural commodities.
I cannot envision a slowdown in any of these factors anytime soon. Central bankers will continue printing, people will continue procreating, developing countries will continue becoming wealthier, etc. So we should absolutely expect rising food prices for quite some time.

Follow the link for more info, including tips on how not to starve, so much...

http://www.zerohedge.com/news/2012-09-27/guest-post-two-no-brainer-ways-play-rising-food-prices

Didn't I read somewhere that the government recently purchased millions of rounds of ammunition?
Bought your bullet proof vest yet...?

Empty chair 'lynchings': Anti-Obama protests gone too far?

By James Eng, NBC News

At least two recent incidents in which empty chairs were hung from trees by rope have critics decrying what they say are racially offensive displays meant to symbolize the “lynching” of President Barack Obama.

In Austin, Texas, a homeowner hung an empty folding chair from a tree branch in front of his house and later attached an American flag to it. He reportedly told a Democratic political blogger who said she had concerns, “You can take it and go straight to hell and take Obama with you.”

---

In Centreville, Va., an empty chair with a sign reading “Nobama” was strung from a tree in or near a park. “In short, this appears to be a crude metaphor for the lynching of President Obama,” wrote the blogger who posted the photo.

http://usnews.nbcnews.com/_news/2012/09/20/13989510-empty-chair-lynchings-anti-obama-protests-gone-too-far?lite

Moody’s expects to cut US rating without deal to lower debt/GDP ratio

• Budget negotiations likely to determine AAA rating and outlook
• If budget talks do not produce downward trend in debt-to-GDP ratio, rating likely to be lowered to AA1
• Assumes “relatively orderly” process for increasing debt limit
• The full Moody’s statement is here

For whoever wins the election, getting the votes from the public will be the easy part. Getting the votes in Congress will be painful.

http://www.forexlive.com/blog/2012/09/11/moodys-expects-to-cut-us-rating-without-deal-to-lower-debtgdp-ratio/

Well, Obama and Dingy Harry sure have made this country strong economically again haven't they?
No Budget passed in the Senate three years running.  A "stimulus" that produced so few jobs it cost "us" $45,450 per job

http://www.recovery.gov/Transparency/RecoveryData/Pages/JobSummary.aspx

$7,000,000,000/154,0159jobs) = 45,450 spent per by we the people per job.

MOST FUNDS PAID OUT BY AGENCY

Rank	State	Amount
1.	Department of Health and Human Services	$123,902,917,427
2.	Department of Education	$91,159,202,618
3.	Department of Labor	$65,999,412,061
4.	Department of Agriculture	$40,234,175,302
5.	Department of Transportation	$36,735,119,637
6.	Department of Energy	$27,323,553,884
7.	Department of the Treasury	$19,931,594,612
8.	Social Security Administration	$13,791,600,471
9.	Department of Housing and Urban Development	$12,851,119,451
10.	Environmental Protection Agency	$6,845,027,188

Total Funds Allocated:

$840 Billion

Estimated American Recovery and Reinvestment Act tax, entitlement, and contract, grant, and loan expenditures have been increased from $787B to $840B to be consistent with the President's 2012 budget and with scoring changes made by the Congressional Budget Office since the enactment of the Recovery Act in February 2009.

Largest Awards in U.S.

Contracts

Grants

Loans

Contracts

Recipient	State	Amount Awarded
1. SAVANNAH RIVER NUCLEAR SOLUTIONS LLC	SC	$720,201,615
2. CH2M HILL PLATEAU REMEDIATION COMPANY	WA	$600,418,168
3. BALFOUR BEATTY/MCCARTHY A JOINT VENTURE	TX	$539,032,415
4. SAVANNAH RIVER NUCLEAR SOLUTIONS LLC	SC	$416,711,472
5. CLARK/MCCARTHY, A JOINT VENTURE	CA	$401,438,378
6. WASHINGTON RIVER PROTECTION SOLUTIONS LLC	WA	$323,855,000
7. CH2M HILL PLATEAU REMEDIATION COMPANY	WA	$315,663,000
8. CH2M HILL PLATEAU REMEDIATION COMPANY	WA	$272,414,000
9. SAVANNAH RIVER NUCLEAR SOLUTIONS LLC	SC	$235,738,870
10. CLARK CONSTRUCTION GROUP, LLC	DC	$206,947,093

So, there have some data and some links relative to the "Stimulus"

Have fun tracking down how many of the "Contracts" went to Democratic financial backers...