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Friday, August 12, 2011

TGIF! - The Joke Edition

I thought we could all use some laughs to take us into the weekend.

Q: What does Barack Obama
call lunch with a convicted felon?
A: A fund raiser.
--Jay Leno

Q: What's the difference between
Obama's cabinet and a penitentiary?
A: One is filled with tax evaders, blackmailers,
and threats to society.
The other is for housing prisoners.
--David Letterman

Q: Have you heard about McDonald's'
new Obama Value Meal?
A: Order anything you like
and the guy behind you has to pay for it.
--Conan O'Brien

Q: If Nancy Pelosi and Obama were on a boat
in the middle of the ocean and it started to sink,
who would be saved?
A: America!
--Jimmy Fallon

Q: What's the difference between
Obama and his dog, Bo?
A: Bo has papers.
--Jimmy Kimmel

Q: What was the most positive result of
the "Cash for Clunkers" program?
A: It took 95% of the Obama bumper
stickers off the road.
--David Letterman


The liberals are asking us to give Obama time.
We agree...and think 25 to life would be appropriate.
--Jay Leno

America needs Obama-care like
Nancy Pelosi needs a Halloween mask.
--Jay Leno

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I received this in an email today.  I didn't check for accuracy but from what I know about our debt, the numbers look close enough.

The debt ceiling by quoting Dave Ramsey:

"If the US Government was a family, they would be making $58,000 a year, they would spend $75,000 a year,
and are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending
to $72,000 a year. These are the actual proportions of the federal budget and debt, reduced to a level that we
can understand."

***********************************************************************************

Welcome to the Recovery

Consumers Are Confident Of Recession

And that my friends is the nail in the economic "recovery." August consumer sentiment was just reported at 54.9 from 63.7 in July. This is the lowest level since May 1980. The chart below shows the correlation with sentiment and the consumer component of GDP which is about 70% of the economy and why I say the "recovery" is over.

In Q2 the consumer component of GDP was 0.07% from 1.46% in Q1. Based on historical correlations and today's sentiment data the Q3 consumer component will contract much further in the (2%) range. This will bleed into the fixed investment and inventory components of GDP causing further contraction.

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1 comment:

  1. Aaron JurgensmeyerAugust 12, 2011 at 2:29 PM

    I did not write the "Welcome to the Recovery". It was from ZeroHedge. I thought I added the link, but I don't want to plagiarize.

    ReplyDelete

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