Tag Archives | Recession

Buy Your Very Own Space Shuttle, for the Rock-Bottom Price of $28 Million!

SpaceShuttleReported by the AP via the NY Times:

CAPE CANAVERAL, Fla. — Here is a recession bargain: the space shuttle. NASA has slashed the price of the 1970s-era spaceships to $28.8 million apiece from $42 million.

The shuttles are for sale once their flying days are over, which is scheduled to be this fall.

When the National Aeronautics and Space Administration in December 2008 put out the call seeking buyers at museums, schools and elsewhere, the agency received about 20 inquiries. An agency spokesman, Mike Curie, said he expected more interest, especially with the discount.

“We’re confident that we’ll get other takers,” Mr. Curie said Friday.

The Discovery is already promised to the Smithsonian National Air and Space Museum. The Atlantis and the Endeavour are up for grabs. It is possible that the Enterprise, a shuttle prototype that never made it to space, will also be available. The Enterprise is currently at the Smithsonian.

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Government Watchdog Can’t Verify Stimulus Job Stats

EAMON JAVERS writes on the Politico:

The chief federal oversight official for the stimulus program said in a letter Wednesday that he can’t certify whether the number of jobs “created or saved” by stimulus funds is accurate.

Recovery Board Chairman Earl Devaney was responding to a request for information by Rep. Darrell Issa (R-Calif.), the top Republican on the House Committee on Oversight and Government Reform. In a letter to Issa dated Nov. 17, Devaney wrote, “Your letter specifically asks if I am able to certify that the number of jobs reported as created/saved on Recovery.gov is accurate and auditable. No, I am not able to make this certification.”

The Obama administration claimed that it saved or created at least 1 million jobs this year. But errors in the stimulus job creation data have become a political hot potato, as the administration has been hit by news reports revealing that data it posted on recovery.gov includes jobs allegedly created in congressional districts that don’t exist.

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The New (Gringo) Face Of Day Labor

The Las Vegas Sun has an article of the recent trend of U.S. citizens’ joining the ranks of immigrants who stand in store parking lots, hoping to be picked up for work:

It sounds like a George Lopez joke: “Times are so bad that I saw an Anglo day laborer standing outside Home Depot the other day.”

Except it’s true…In the latest sign of the Las Vegas Valley’s economic free fall, U.S. citizens are starting to show up in the early mornings outside home improvement stores and plant nurseries across the Las Vegas Valley, jostling with illegal immigrants for a shot at a few hours of work.

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Who is “Rewriting the Rules of American ‘Capitalism’”?

“We don’t want your tired, poor, huddled masses yearning to trash the planet” The Federal Reserve, 2009.

By Robert Singer

Having trouble understanding the events since the October 2008 financial crisis?

Any of this sound familiar:

  • Banks hoarding their TARP funds
  • Gas prices going up when they should be going down
  • Automobile dealerships closed without regard to profitability
  • Health Care reform: The Kevorkian is out of jail early

What’s going on?

Bush Sr. said our way of life wasn’t negotiable in 1992 but as of October 2008, it’s all over but the weeping and gnashing of teeth.

And in one of those coincidences that don’t happen very often: like all four financial meltdowns in history occurring in October, the October 2008 financial meltdown guaranteed Barack Obama, an unknown senator 4 years ago, would be the 44th president of the United States. [1]

October 2008, to anyone not in denial, marked the last day the men behind the Federal Reserve, all connected to the House of Rothschild, gave up what’s left of their wealth so the huddled middle class can trash the planet.… Read the rest

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Ron Paul: Be Prepared for the Worst

Congressman Ron Paul, hero of many, says the recession is not over and all that’s happened is the formation of another bubble, in this opinion piece he wrote for Forbes:

Any number of pundits claim that we have now passed the worst of the recession. Green shoots of recovery are supposedly popping up all around the country, and the economy is expected to resume growing soon at an annual rate of 3% to 4%. Many of these are the same people who insisted that the economy would continue growing last year, even while it was clear that we were already in the beginning stages of a recession.

A false recovery is under way. I am reminded of the outlook in 1930, when the experts were certain that the worst of the Depression was over and that recovery was just around the corner. The economy and stock market seemed to be recovering, and there was optimism that the recession, like many of those before it, would be over in a year or less.

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How the Economic Crisis Changed Us

A new PARADE survey shows just how dramatically Americans’ dreams and relationships have been transformed by the current economic crisis:

Nearly four out of five respondents (79%) say that they’ve felt the impact of the financial downturn, with one-third saying that the turmoil has had a big impact on their lives. Most respondents haven’t had to turn on the TV to appreciate the scope of the declining economy—they’ve registered its toll in their own faces or those of friends, family members, and neighbors. Sixty-nine percent have lost a job, suffered a reduction in pay, or know someone who has experienced one of these. Close to half have had difficulty making their mortgage or rent payments or know someone who has.

As a result, many Americans have made significant financial adjustments in their daily lives. Eighty percent say that they’ve been “forced to do more with less,” 73% have had to make unexpected changes, and 19% have sought some form of government assistance.

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