Daily Commentary – Friday, June 6, 2014 – Seattle Washington Votes To Raise Minimum Wage to $15 Per Hour

  • It is the highest in the nation. Will it hurt business?

Daily Commentary – Friday, June 6, 2014 Download

FBI and SEC Probe into Insider Trading Investigation of Carl Icahn, Billy Walters & PGA’s Phil Mickelson

Investor, Bettor, and Golfer Investigated for Insider Trading, Oh My!!!

The NY Times is reporting that federal authorities are investigating a series of well-timed trades made by PGA golfer Phil Mickelson and the gambler William T. Walters, focusing on trading in two different stocks from 2011 and 2012. The Feds are looking into whether Mickelson and Walters may have traded illegally on private information provided by billionaire investor Carl Icahn about his investments in public corporations. The stock trades in question are with Clorox in 2011 and Dean Foods in 2012.  As reported at the Business Insider Mickelson stated, “I have done absolutely nothing wrong. I have cooperated with the government in this investigation and will continue to do so.”

fbi-sec

Federal authorities are examining a series of well-timed trades made by the golfer Phil Mickelson and the gambler William T. Walters, people briefed on the investigation said, focusing on trading in two different stocks. The authorities are also questioning what role, if any, the investor Carl C. Icahn may have had in sharing information about one of the stocks: the consumer products company Clorox.

Mr. Mickelson, a three-time winner of the Masters golf tournament and one of the country’s highest-earning athletes, placed his Clorox trade in 2011, the people briefed on the investigation said. Mr. Walters, an owner of golf courses who is often considered the most successful sports bettor in the country, made a similar trade about that time, the people added.

Mr. Icahn, a 78-year-old billionaire and one of the best-known investors in the world, was mounting a takeover bid for Clorox around the time that Mr. Mickelson and Mr. Walters placed their trades.

The F.B.I. and Securities and Exchange Commission, which are leading the inquiry along with federal prosecutors in Manhattan, are examining whether Mr. Icahn leaked details of his Clorox bid to Mr. Walters, the people briefed on the investigation said. One theory, the people said, is that Mr. Walters might have passed that information to Mr. Mickelson.

 

Obama Economic Recovery: Commerce Department Revises Down 2014 First Qtr. GDP to -1.0%

And you thought 0.1% GDP was bad …

On Thursday the Commerce Department adjusted down the first quarter GDP, Gross domestic product, to – 1.0% for the first three months of 2014. The agency had initially last month estimated GDP grew at a 0.1% rate in the first quarter. Oops, missed it by that much. How’s that Obamanomics working out for you America?  A recession is defined as a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters. However, because job wages have remained stagnant, if you have one, while food prices are up, gas prices are up and energy prices are up, most Americans feel that we are still in a recession.

The recovery that wasn’t. Of course the Obama folks are quick to point to the harsh winter weather for the downturn. Hmm, what happened to global warming? But what happened in the first quarter of 2014 … how about Obamacare enrollment?

GDP_Q1_2014

The United States GDP shrank at an annual rate of 1.0 percent in the first quarter of 2014, according to the second estimate released by the Commerce Department. It is the worst performance in three years and comes lower than a preliminary estimated 0.1 percent expansion, due to a sharper fall in private inventory investment and a bigger trade deficit.

The downturn in the percent change in real GDP primarily reflected a downturn in exports, a larger decrease in private inventory investment, and downturns in nonresidential fixed investment and in state and local government spending that were partly offset by an upturn in federal government spending.

The price index for gross domestic purchases, which measures prices paid by U.S. residents, increased 1.3 percent in the first quarter, 0.1 percentage point less than in the advance estimate; this index increased 1.5 percent in the fourth quarter. Excluding food and energy prices, the price index for gross domestic purchases increased 1.3 percent in the first quarter, compared with an increase of 1.8 percent in the fourth.

Barack Obama White House Told Former Treasury Secretary Timothy Geithner to Lie to American People About Social Security Adding to National Debt

TURBO TAX TIMMY SAYS OBAMA WHITE HOUSE TOLD HIM TO LIE TO THE AMERICAN PEOPLE …

In his memoir ‘Stress Test’ former Treasury Secretary Timothy Geithner says the Obama  White House wanted him to mislead and lie to Americans about the long term costs of Social Security on Sunday talk shows. SOUND FAMILIAR? According to Geithner, the White House communications director specifically told him not to say that Social Security contributes to the national deficit in an upcoming appearance on the Sunday morning talk shows, even though he believes it does, because it might inflame and anger the Democratic base.   What, say it isn’t so … the Obama Administration wanted their minions to lie to the American people?!?  ‘Pfeiffer said the line was a ‘dog whistle’ to the left, signaling that we [Democrats] intended to protect Social Security. Lies, lies and more lies from the Obama administration that makes everything about politics.

However, before we give Geithner any medals for his truthfulness, maybe he would like to explain why he did not resign? It is a crime what this administration has perpetrated upon the American people. If a Republican presidency had been caught in this many lies and scandals, the MSM would have drummed them out of office.

The UK Daily Mail:

The White House wanted Treasury Secretary Timothy Geithner to lie on Sunday talk shows to downplay the part Social Security played in driving the deficit, it was revealed today.

Geithner writes in his memoir Stress Test, out today, that the White House communications director asked him to downplay the long term cost of Social Security spending to mollify the Democratic Party’s base.

‘I remember during one Roosevelt Room prep session before I appeared on the Sunday shows, I objected when Dan Pfeiffer wanted me to say Social Security didn’t contribute to the deficit. It wasn’t a main driver of our future deficits, but it did contribute,’ he says.

‘Pfeiffer said the line was a ‘dog whistle’ to the left, a phrase I had never heard before. He had to explain that the phrase was code to the Democratic base, signaling that we intended to protect Social Security.’

UREAL … How many more lies must the Obama administration be caught in before “We the People” disregard everything that they say?

VP Joe Biden Takes Shot at Clintons in SC … Unraveling of Middle Class Financial Security Began in “the Later Years of the Clinton Administration,” Not Under GWB

Is Biden going to run for Democrat nominee for president in 2016?

Vice President Joe Biden speaking at the VIP Capital City Club event in Columbia, SC took a swipe at the Clinton’s and did the unthinkable for a Democrat, did not blame George W. Bush. Biden said to the group in the key primary state of South Carolina, the unraveling of middle-class financial security began in “the later years of the Clinton administration,” not under George W. Bush.

Vice President Joe Biden gave a closed-door speech Friday to South Carolina Democrats that included a shot at the Clintons.

Biden, a potential 2016 candidate, said the unraveling of middle-class financial security began in “the later years of the Clinton administration,” not under George W. Bush, CNN reported Saturday.

Speaking for more than thirty minutes at the VIP Capital City Club event in Columbia, S.C., he addressed the prominant group of attendees in the key presidential primary state.

In recent months, the vice president has focused on revving up liberals on issues of income inequality, as he prepares for a possible run against former Secretary of State Hillary Clinton, though many Democrats don’t think he’d run against her.

“He said we have some of the most productive workers in the world, but corporations are more concerned about their stockholders than they are about their employees,” one attendee said. “He talked about how the fruits of labor go to stockholders, rather than to the people who are producing it. That the people making the money in this country are the corporations.”

Another attendee described it as “a stem-winding, almost revival-type speech.”

Comedian Rob Schneider Very Critical of Media & Obama’s Handling of the Economy …”We Are Sliding Very Fast Towards Fascism”

Rob Schneider critical of the Obamameister …

Former SNL cast member, comedian and actor Rob Schneider held nothing back when voicing his opinions on discussing the path he sees the country on  during an interview with Chris Stigall on Talk Radio 1210 WPHT. Schneider was extremely critical of Obama’s handling of the economy and of the MSM for being overly influenced by government and in failing to stand up for ‘We the People”. Many of us wish that Barack Obama was in a job where he was “making copies”.

Rob_Schneider

“Democracies don’t end well. We are sliding very fast towards fascism. It’s an ugly kind of thing. There’s this kind of mob mentality that we have to be careful of,” he said.

He believes comedians are pressured toward one side of the political spectrum.

“There’s a polarization that’s happening…I do think you look can look at government and go, ‘Wow, it is out of control now,’ and if you do criticize or tend to be not directly along a liberal stand, you can get murdered,” Schneider commented.

Schneider was very critical of the President’s handling of the economy and he feels certain policies are impacting businesses.

He was also critical of the media for being overly influenced by the government and not standing up for the American people.

WSJ/NBC Poll: 8% Say that Obamacare (Affordable Care Act) Is Working Well the Way It Is

Remember when Barack Obama said in April 17, 2014 about Obamacare,  “This thing is working” … then again he also said you could keep your insurance if you liked it.

According to a recent WSJ/NBC poll, Americans could not disagree more with President Obama as an incredible 8% say that Obamacare “is working well the way it is.” 8%!!! Do you realize just how bad something has to be to get 8%? But what else would we expect from a law passed along partisan Democrat lines, which no one read and where Barack Obama, Democrats and their shills in the MSM intentionally lied to the American people that under Obamacare you could keep your insurance if you lied it and you could keep your doctor is you liked them, period!

Take a look Democrats as to what you face in the 2014 midterm elections. Feel like running on Obamacare?

Full poll results HERE.

Obama says, “This thing is working” … 

Now the latest edition of the WSJ/NBC poll suggests just how few Americans agree with that statement. A mere 8% of respondents in the new survey say that the Affordable Care Act “is working well the way it is.”

There are differences of opinion on how to respond to the mess Washington has created, but few Americans think it’s time to shut down the debate over the health law. A full 49% say that the law should either be scrapped entirely or given “a major overhaul,” while 40% say the law needs “minor modifications to improve it.”

Mr. Obama’s 44% approval rating lags his 50% disapproval rating. And while 36% of respondents say the health law is a good idea, 46% say it’s a bad idea. Congressional Democrats up for re-election this fall may be especially troubled by these results given that 43% of survey respondents voted for Barack Obama in 2012, versus 34% who voted for Mitt Romney. In the actual 2012 race, Mr. Obama bested Mr. Romney by four percentage points.

Newsbusters points out that shills in the MSM are still trying to spin Obamacare’s poll ratings as a good thing. Chuck Todd tried to spin the latest NBC News/Wall Street Journal poll that shows half of Americans disapprove of Obama as “Improvement” for the Democrat.Hey Chuck, did you see that 8% number? How about the 36% of respondents who said that the health law is a good idea?  Or the 54% who disapprove of Obama’s handling of the economy?

Todd argued that “The poll numbers are better, they’re still not good, okay? There is slight improvement on the health care law. And that directly related to slight improvement for President Obama.” Yet, Todd’s own statements don’t hold up to the actual findings of the NBC/WSJ poll.

Rasmussen: 61% of Americans Support the XL Keystone Pipeline as Obama Panders to Enviro-Wackos and Delays Decision Until After 2014 Midterm Elections

WHO IS OUT OF TOUCH WITH AMERICA AND PANDERS TO AN EXTREMIST MINORITY FOR POLITICAL REASONS?

A recent Rasmussen poll has support for the XL Keystone Pipeline at all time highs. Sixty-one percent of Americans now support the building of the oil pipeline from Canada to Texas, while only 27% are opposed. Also, 62% of likely voters also say that the pipeline is good for the economy. However, the anti-fossil fuel Obama would rather pander to the environmental wacko minority and continues to dither and delay the decision on the construction. Just last week Barack Obama once again delayed his decision to go forward on its construction as he pushed it back until after the 2014 midterm elections putting Democrat party politics ahead of jobs for Americans. But of course we were told that Obama’s delay had nothing to do with politics from Debbie Wasserman-Schiltz. Of course not.  Also reported in the poll was that 57% of voters say the pipeline is at least somewhat important to how they will vote in the next congressional election, with 23% who say it is Very Important.Democrats better be careful in 2014, there is no way that 57% are all Republicans.

Obama_fingerpoint

I don’t care what a majority of the American people think, you are stuck with me. I do not work for you.

Support for building the Keystone XL pipeline is now at its highest level ever.

The latest Rasmussen Reports national telephone survey finds that 61% of Likely U.S. Voters now at least somewhat favor building the major oil pipeline from Canada to Texas, while just 27% are opposed. This includes 37% who Strongly Favor the project and 10% who Strongly Oppose it. Thirteen percent (13%) are undecided. (To see survey question wording, click here.)

Support for building the pipeline is up four points from 57% in January and now has edged above the previous high of 60% found in November 2011 when President Obama first delayed the project for further environmental study.

It is Democrats and the MSM that always claim that the GOP panders to the radical Tea Party, Americans just might want to take a look at who Obama is taking his orders from.

Oh by the way, this weeks jobless claims jump 24,000 this week to 329,000 as Obama refuses to approve a project that would automatically create jobs in the private sector with no tax paid for stimulus.

The number of Americans filing for new unemployment benefits jumped last week, a sign layoffs have increased since touching a seven-year low earlier this month.

Initial claims for jobless benefits, a measure of layoffs, rose by 24,000 to a seasonally adjusted 329,000 in the week ended April 19, the Labor Department said Thursday. The weekly gain was the largest since December.

Economists surveyed by The Wall Street Journal expected 315,000 new claims last week. Claims for the prior week were revised up by 1,000 to 305,000.

Ooops … Federal Govt Study Concludes Biofuels From Corn Waste Not Better Than Gas

It’s settled science … bio-fuels made from corn worse than gas in emitting greenhouse gases …

What say you Barack Obama, Al Gore and the rest? According to a federal government paid for study, bio-fuels made from leftovers of harvested corn plants release 7% more greenhouse gases as compared to conventional, evil gasoline. Let me repeat that, this was a paid for federal government study. So not only are we creating a fuel that is more harmful, as they say, to the environment, they are taking the food source away from human and animal usage.

Biofuels_corn

Biofuels made from the leftovers of harvested corn plants are worse than gasoline for global warming in the short term, a study shows, challenging the Obama administration’s conclusions that they are a much cleaner oil alternative and will help combat climate change.

A $500,000 study paid for by the federal government and released Sunday in the peer-reviewed journal Nature Climate Change concludes that biofuels made with corn residue release 7 percent more greenhouse gases in the early years compared with conventional gasoline.

While biofuels are better in the long run, the study says they won’t meet a standard set in a 2007 energy law to qualify as renewable fuel.

Obama_Cornfield

If I build subsidies it, it will fail …

Hate it when that happens, eh environmental wackos? Here comes the priceless part, the LEFT and Obama admin officials is criticizing the study as flawed. HAHAHA!!! What’s the matter, don’t like it when the results that you paid for don’t fit your liberal agenda? These are the people that demonize those that do not believe that man is responsible for global warming, oh sorry what do they call it these days, climate change.

The conclusions deal a blow to what are known as cellulosic biofuels, which have received more than a billion dollars in federal support but have struggled to meet volume targets mandated by law. About half of the initial market in cellulosics is expected to be derived from corn residue.

The biofuel industry and administration officials immediately criticized the research as flawed. They said it was too simplistic in its analysis of carbon loss from soil, which can vary over a single field, and vastly overestimated how much residue farmers actually would remove once the market gets underway.

It’s Final — Corn Ethanol Is Of No Use.

OK, can we please stop pretending biofuel made from corn is helping the planet and the environment? With huge subsidies for ethanol in gasoline, with all States now selling gasoline having some ethanol blend, and a general misconception that these biofuels are green, corn ethanol has taken on a $30 billion/yr life of its own.

The United Nations Intergovernmental Panel on Climate Change released two of its Working Group reports at the end of last month (WGI and WGIII), and their short discussion of biofuels has ignited a fierce debate as to whether they’re of any environmental benefit at all.

DNC Chairwoman Debbie Wasserman-Schultz Says Politics Had Nothing to do With Obama’s Delay of Keystone XL Pipeline Until After 2014 Midterm Elections

LIAR, LIAR, PANTS ON FIRE …

DNC Chairwoman Debbie Wasserman-Schultz (D-FL) was on ‘Meet the Press’ on Sunday spinning like a top. DWS told David Gregory that she does not believe that Barack Obama’s decision to delay the XL Keystone pipeline had nothing to do with politics. HAH! Seriously Debbie, the fact that it is referenced that a decision will be made at the earliest after the 2014 has nothing to do with politics? Sorry, but much like everything with Obama, it has everything to do with politics. This is just another example of Barack Obama kicking the political can of issues down the road and playing partisan politics and putting Democrats ahead of Americans. We know that the Keystone XL pipline construction will create primary jobs and secondary one’s from that. But that does not matter to the Food Stamp president.

DWS discusses Keystone XL Pipeline around the 4:00 mark

DWS went on to say, “It [Keyston XL pipeline] affects multiple states.  What’s also true is that incumbent senators like [Louisiana Democrat] Mary Landrieu understand the issues that are important on the ground in their states to their constituents.” Yes, they do and they do not appear to be happy.

XL_Keystone_Sen_Landrieu comments

This woman has the nerve to talk about Tea party extremists when Democrats and Barack Obama are pandering to the far-left wing environmental wackos in delaying the XL Keystone as even Sen. Mary Landrieu (D-LA) stated, “Today’s decision by the administration amounts to nothing short of an indefinite delay of the Keystone pipeline. The decision’s irresponsible, unnecessary, and unacceptable. By making it clear that they will not move the process forward until there’s a resolution in a lawsuit in Nebraska, the administration is sending a signal that the small minority who oppose the pipeline can tie up the process in court forever.”

Meet the Press Transcript:

DAVID GREGORY: Are you worried, as the party chair, that this shouldn’t be resolved before the election because of the potential impact it could have on vulnerable Democrats?

REP. DEBBIE WASSERMAN SCHULTZ: As a member of Congress who represents hundreds of thousands of people in south Florida, I want to make sure that the right decision is arrived at. And that the president makes that decision carefully and he doesn’t factor politics into his decision, which I don’t think he is.

DAVID GREGORY: Is the issue in the fall a referendum on President Obama?

REP. DEBBIE WASSERMAN SCHULTZ: No, absolutely not. The–

DAVID GREGORY: It’s not?

I suppose the IRS targeting the Tea Party, blaming Benghazi on a video tape and delaying employee mandates for Obamacare were not political either.

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