Bobby Jindal - the star of the GOP that fizzled on national and international stage!

[Icadon]

I was like d-d-d-d-dayum!

 

[Susuviri]

Bobby Jindal spoke well. After you hear him,Obama sounds brash,like a braying donkey. But I think 2012 is too soon for this young man to bid for the presidency.

Ganesh, no need to attack Obama, we are talking about Piyush, but if you keep bringing in Obama, Piyush will just look worse than he could have been with a less stellar speaker before him.... admit it, he made you cringe just like other Indians and GOP!

 

[Nyani Ngabu]

Ganesh, no need to attack Obama, we are talking about Piyush, but if you keep bringing in Obama, Piyush will just look worse than he could have been with a less stellar speaker before him.... admit it, he made you cringe just like other Indians and GOP!

We want results and not sweet words....we want a doer...not a talker...geeeez...why don't you all get it?

 

[The Truth]

Obantu recession and Bantunomics are in full effect now. More pain to ahead....

Economy Shrank More Than Expected in Fourth Quarter

The Commerce Department report released Friday showed the economy sinking much faster than the 3.8 percent annualized drop for the October-December quarter first estimated by the government last month.

AP

Friday, February 27, 2009



The U.S. economy contracted at a staggering 6.2 percent pace at the end of 2008, the worst showing in a quarter-century, as consumers and businesses ratcheted back spending, plunging the country deeper into recession.

The Commerce Department report released Friday showed the economy sinking much faster than the 3.8 percent annualized drop for the October-December quarter first estimated last month. It also was considerably weaker than the 5.4 percent annualized decline economists expected.

Looking ahead, economists predict consumers and businesses will keep cutting back spending, making the first six months of this year especially rocky.

"Right now we're in the period of maximum recession stress, where the big cuts are being made," said economist Ken Mayland, president of ClearView Economics.

The new report offered grim proof that the economy's economic tailspin accelerated in the fourth quarter under a slew of negative forces feeding on each other. The economy started off 2008 on feeble footing, picked up a bit of speed in the spring and then contracted at an annualized rate of 0.5 percent in the third quarter.

The faster downhill slide in the final quarter of last year came as the financial crisis -- the worst since the 1930s -- intensified.

Consumers at the end of the year slashed spending by the most in 28 years. They chopped spending on cars, furniture, appliances, clothes and other things. Businesses retrenched sharply, too, dropping the ax on equipment and software, home building and commercial construction.

Before Friday's report was released, many economists were projecting an annualized drop of 5 percent in the current January-March quarter. However, given the fourth quarter's showing and the dismal state of the jobs market, Mayland believes a decline of closer to 6 percent in the current quarter is possible.

The U.S. unemployment rate is now at 7.6 percent, the highest in more than 16 years. The Federal Reserve expects the jobless rate to rise to close to 9 percent this year, and probably remain above normal levels of around 5 percent into 2011.

A smaller decline in the economy is expected for the second quarter of this year. But the new GDP figure -- like the old one -- marked the weakest quarterly showing since an annualized drop of 6.4 percent in the first quarter of 1982, when the country was suffering through an intense recession.

American consumers -- spooked by vanishing jobs, sinking home values and shrinking investment portfolios have cut back. In turn, companies are slashing production and payrolls. Rising foreclosures are aggravating the already stricken housing market, hard-to-get credit has stymied business investment and is crimping the ability of some consumers to make big-ticket purchases.

It's creating a self-perpetuating vicious cycle that Washington policymakers are finding hard to break.

To jolt life back into the economy, President Barack Obama recently signed a $787 billion recovery package of increased government spending and tax cuts. The president also unveiled a $75 billion plan to stem home foreclosures and Treasury Secretary Timothy Geithner said as much as $2 trillion could be plowed into the financial system to jump-start lending.

For all of 2008, the economy grew by just 1.1 percent, weaker than the government initially estimated. That was down from a 2 percent gain in 2007 and marked the slowest growth since the last recession in 2001.

With Friday's figures, Mayland lowered his forecast for this year to show a deeper contraction of just over 2 percent.

In the fourth quarter, consumers cut spending at a 4.3 percent pace. That was deeper than the initial 3.5 percent annualized drop and marked the biggest decline since the second quarter of 1980.

Businesses slashed spending on equipment and software at an annualized pace of 28.8 percent in the final quarter of last year. That also was deeper than first reported and was the worst showing since the first quarter of 1958.

Fallout from the housing collapse spread to other areas. Builders cut spending on commercial construction projects by 21.1 percent, the most since the first quarter of 1975. Home builders slashed spending at a 22.2 percent pace, the most since the start of 2008.

A sharper drop in U.S. exports also factored into the weaker fourth-quarter performance. Economic troubles overseas are sapping demand for domestic goods and services.

Businesses also cut investments in inventories -- as they scrambled to reduce stocks in the face of dwindling customer demand -- another factor contributing to the weaker fourth-quarter reading.

Fed Chairman Ben Bernanke earlier this week told Congress that the economy is suffering a "severe contraction" and is likely to keep shrinking in the fix six months of this year. But he planted a seed of hope that the recession might end his year if the government managed to prop up the shaky banking system.

Even in the best-case scenario that the recession ends this year and an economic recovery happens next year, unemployment is likely to keep rising.

That's partly because many analysts don't think the early stages of any recovery will be vigorous, and because companies won't be inclined to ramp up hiring until they feel confident that any economic rebound will have staying power.

More job losses were announced this week. JPMorgan Chase & Co. on Thursday said it would eliminate about 12,000 jobs as it absorbs the operations of failed savings and loan Washington Mutual Inc. That figure includes 9,200 cuts announced previously and 2,800 jobs expected to be lost through attrition.

Textile maker Milliken & Co. said it would cut 650 jobs at facilities worldwide, while jeweler Zale Corp. said it will close 115 stores and eliminate 245 positions.

On Monday, troubled flash memory maker Spansion Inc. said it will lay off about 3,000 employees and computer chip maker Micron Technology Inc. announced it will slash as many as 2,000 workers by the end of August.

Source: Associated Press

 

[The Truth]

Ganesh, no need to attack Obama, we are talking about Piyush, but if you keep bringing in Obama, Piyush will just look worse than he could have been with a less stellar speaker before him.... admit it, he made you cringe just like other Indians and GOP!

So Indians and GOP make you cringe? Why is that?

 

[Mwakilishi]

Poor Mr. Jindal...But seriously, when it comes to speeches, Obama is a tough act to follow! I'll give the good governor a break on this one!

As for the stimulus package, I am not so sure how things like $300m for government cars, higher taxes for those earning $250,000 or more(isn't this akin to penalizing someone for earning more? Not fair at all and certainly not a catalyst for increased productivity) and other seemingly unnecessary expenditure will jumpstart or even sustain the economy in the long run.

I understand there will be taxcuts for small businesses, now if these businesses flourish to make $250,000 or more, they get choked by increased taxes. A recipe for stagnation if you ask me! Well, I'm no economist but it just doesn't make sense!

I am all for offering a helping hand to those facing foreclosures but then what about those who have been prudent, have all their financial ducks in a row, as it were and managed to pay their mortgages, what would they get? Reduced insterest rates, lower principals, or? Again, where is the fairness? Oh, well!

 

[Susuviri]

So Indians and GOP make you cringe? Why is that?

Hey The Truth, if you don't get it don't assume. Just read again what I wrote, I am not the one cringing it's GOP and Indians about Piyush aka Bobby

 

[Susuviri]

Fans of Piyush.... haya sasa mi si niliwaambia jamaa ni mwongo!! Kwikwikwiiiiii
LIAR LIAR PANTS ON FIRE!!! At least he admitted it

Looks like the game is up.
Remember that story Bobby Jindal told in his big speech Tuesday night -- about how during Katrina, he stood shoulder-to-shoulder with a local sheriff who was battling government red tape to try to rescue stranded victims?

Turns out it wasn't actually, you know, true.

In the last few days, first Daily Kos, and then TPMmuckraker, raised serious questions about the story, based in part on the fact that no news reports we could find place Jindal in the affected area at the specific time at issue.

Jindal had described being in the office of Sheriff Harry Lee "during Katrina," and hearing him yelling into the phone at a government bureaucrat who was refusing to let him send volunteer boats out to rescue stranded storm victims, because they didn't have the necessary permits. Jindal said he told Lee, "that's ridiculous," prompting Lee to tell the bureaucrat that the rescue effort would go ahead and he or she could arrest both Lee and Jindal.

But now, a Jindal spokeswoman has admitted to Politico that in reality, Jindal overheard Lee talking about the episode to someone else by phone "days later." The spokeswoman said she thought Lee, who died in 2007, was being interviewed about the incident at the time.
This is no minor difference. Jindal's presence in Lee's office during the crisis itself was a key element of the story's intended appeal, putting him at the center of the action during the maelstrom. Just as important, Jindal implied that his support for the sheriff helped ensure the rescue went ahead. But it turns out Jindal wasn't there at the key moment, and played no role in making the rescue happen.

There's a larger point here, though. The central anecdote of the GOP's prime-time response to President Obama's speech, intended to illustrate the threat of excessive government regulation, turns out to have been made up.

Maybe it's time to rethink the premise.

Now the only way is down..................

 

[The Truth]

Poor Mr. Jindal...But seriously, when it comes to speeches, Obama is a tough act to follow! I'll give the good governor a break on this one!

As for the stimulus package, I am not so sure how things like $300m for government cars, higher taxes for those earning $250,000 or more(isn't this akin to penalizing someone for earning more? Not fair at all and certainly not a catalyst for increased productivity) and other seemingly unnecessary expenditure will jumpstart or even sustain the economy in the long run.

I understand there will be taxcuts for small businesses, now if these businesses flourish to make $250,000 or more, they get choked by increased taxes. A recipe for stagnation if you ask me! Well, I'm no economist but it just doesn't make sense!

I am all for offering a helping hand to those facing foreclosures but then what about those who have been prudent, have all their financial ducks in a row, as it were and managed to pay their mortgages, what would they get? Reduced insterest rates, lower principals, or? Again, where is the fairness? Oh, well!

Obantu is bankrupting America. In one month he has spent more than Bush did in 8 years fighting wars. The economy is still sliding down the toilet and Obantu is another war monger like Bush. He is spending, spending, and more spending money that America doesn't have. So good speeches are meaningless when you are driving the country into disaster.

 

[Yo Yo]

Obantu is bankrupting America. In one month he has spent more than Bush did in 8 years fighting wars. The economy is still sliding down the toilet and Obantu is another war monger like Bush. He is spending, spending, and more spending money that America doesn't have. So good speeches are meaningless when you are driving the country into disaster.

What's your opinion now?

 

[The Truth]

Hey The Truth, if you don't get it don't assume. Just read again what I wrote, I am not the one cringing it's GOP and Indians about Piyush aka Bobby

OK I see! Well he didn't make me cringe. In fact Jindal makes me proud. He has accomplished a lot based on his merits unlike Obantu who is a benefactor of affirmative action. Obantu wouldn't be where he is if it wasn't for affirmative action and racial quotas. For that among many other reasons, he will never earn my respect.

 

[Mwazange]

Halafu na nasikia kaongopa kuhusu ishu ya Sherrif kwenye rebuttal yake last week......Nasikia wala hakuwepo kwenye mtanange wa Katrina kama alivyojiweka.....Spokesman wake kaadmit....Ya kweli haya??

 

[The Truth]

What's your opinion now?

My opinion about Obantu? I don't need opinions with all the facts around. He is spending like a mad man (fact). If the spending continues which it will America is going bankrupt (fact).

 

[Yo Yo]

My opinion about Obantu? I don't need opinions with all the facts around. He is spending like a mad man (fact). If the spending continues which it will America is going bankrupt (fact).

kama huna oponion basi usi complain.......give suggestion kama ungekuwa mshauri wa Obama ungemshaurije?

 

[The Truth]

He is spending what and where? Jamaa ana invest ili ku-resuscitate hii economy!! kwani nani aliyetufikisha hapa?? Yes, that's right!!!

Huna facts.....BHO ata tawala for 8 yrs na America will prosper than ever! FACT.

YournameisMWIZI,

What investment that Obantu is doing will pay off the debt he is incurring which I suspect will total 4 trillion dollars by the end of his term? Can you show me evidence of such investments? And be specific as I am not interested in platitudes or campaign slogans such as infrastructure, clean energy or any other pie in the sky idea. I need the same specifics that a venture capitalist would need from an entrepreneur looking for investment for his or her idea.

 

[The Truth]

kama huna oponion basi usi complain.......give suggestion kama ungekuwa mshauri wa Obama ungemshaurije?

What makes you think Obantu is looking for opinions? The man is a radical socialist whose intent is to punish the "evil" rich White people by wealth redistribution tactics. No opinion will change his mind. The same way no opinion will change Mugabe's ideology. Does it matter to Obantu that America will be bankrupt if he keeps spending? No! Does it matter to Obantu that America will become a third world nation as a result of his policies? No! The same way it doesn't matter to Mugabe that he turned a former bread basket of Africa into a cesspool. What matters is that his vision or ideas were implemented or realized. The similarities between Obantu and Mugabe are stunning. Just stunning!

 

[Nyani Ngabu]

[ame=http://www.youtube.com/watch?v=3m9Gbb6NSwM]YouTube - Matthews Feels a "Furrowing Up His Leg"??[/ame]

 

[Nyambala]

What makes you think Obantu is looking for opinions? The man is a radical socialist whose intent is to punish the "evil" rich White people by wealth redistribution tactics. No opinion will change his mind. The same way no opinion will change Mugabe's ideology. Does it matter to Obantu that America will be bankrupt if he keeps spending? No! Does it matter to Obantu that America will become a third world nation as a result of his policies? No! The same way it doesn't matter to Mugabe that he turned a former bread basket of Africa into a cesspool. What matters is that his vision or ideas were implemented or realized. The similarities between Obantu and Mugabe are stunning. Just stunning!

This tells me that you are one of the confused ****** how can you compare Mugabe and BHO. One is world's pres the other is a pres for less than 12m pple, one is a dictator the other is not, one is 85 the other is 47, One is a murderer and the other is not. And if it is about wht u call socialism tell mi wht ur old grandpa Mc bush & Sarah with the like of Piyush would have bn doing if at all they were now running the govt? Funny enuff u fail to realize the origin of this whole mess.....

So just tell me how do you compare these two folks???????

 

[Cynic]

OK I see! Well he didn't make me cringe. In fact Jindal makes me proud. He has accomplished a lot based on his merits unlike Obantu who is a benefactor of affirmative action. Obantu wouldn't be where he is if it wasn't for affirmative action and racial quotas. For that among many other reasons, he will never earn my respect.

Just plain lies

 

[Rev. Kishoka]

Obantu recession and Bantunomics are in full effect now. More pain to ahead....



Source: Associated Press

Ukweli,

Who was the Presidah of USA at 4q of 2008?