OBAMA: WE’RE NOT ‘WILDLY OVERSPENDING,’ A LOT OF STUFF PEOPLE PUT ON INTERNET AND NEWS IS ‘FACTUALLY INACCURATE’

“There are a bunch of folks who say that we’re wildly overspending, even though we aren’t.”

Breitbart | IAN HANCHETTFEBRUARY 13, 2016

President Obama argued, “there are a bunch of folks who say that we’re wildly overspending, even though we aren’t” and that many things on the Internet and news broadcasts “are just factually inaccurate” on Friday’s broadcast of “The Ellen DeGeneres Show.”

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Obama said, “The amount of stuff that is just put out there on the Internet, or on, sometimes news broadcasts that are just factually inaccurate is surprising, and it’s really hard to catch up. Since I came into office, we reduced the deficit by two-thirds. But if you ask the average person, they’re sure that spending has shot up, and the reason is because, there are a bunch of folks who say that we’re wildly overspending, even though we aren’t. And that’s just one small example, but it happens all the time, and that’s something that we have to fix, partly by people paying more attention to what’s going on every single day. And it’s hard. People are busy.”

The Heritage Foundation Explains Washington’s Spending Problem

Published on Feb 12, 2016

Genevieve Wood explains Washington’s Spending Problem.

once sanders gets elected, the gravy train will take us straight into satans armpit. ive literally heard some college students who work and study say if sanders gets elected they will stop working take less classes and do whatever they want to do, most want to travel. as a college student myself paying for school isnt easy, and its fairly tempting to vote for sanders and have my college paid for, but, i know better. voting for sanders is voting to steal money from the successful and from future generations to pay for all sorts of crap.

Fed Is Trying Everything They Can to Delay the Day of Reckoning

Published on Feb 12, 2016

Peter Schiff on Fox Business 2/10/2016
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Scott Nations 2017: “PETER SCHIFF IS STILL WRONG, NOT EVEN HE PREDICTED GOLD WOULD BE 6000 DOLLARS AN OUNCE!!!”

Sanders: ‘Real Unemployment Is Close to 10%’

BY IAN HANCHETT

Democratic presidential candidate Senator

Sen. Bernie Sanders (I-VT) 16% argued that “real unemployment is close to 10%” during Thursday’s “PBS NewsHour” Democratic presidential debate.

Sanders said, “I do believe that in the year 2016, we have to look in terms of public education, as colleges — as part of public education, making public colleges and universities tuition free. I believe that when real unemployment is close to 10%, and when our infrastructure, our roads, our bridges, our water systems, Flint, Michigan, comes to mind, our wastewater plants, our rail, our airports, in many places, are disintegrating, yeah, we can create 13 million jobs by rebuilding our infrastructure, at a cost of a trillion dollars.”

VIDEO: Workers Rage Over Company Move to Mexico…

BY AHIZA GARCIA

Workers at the Carrier manufacturing plant in Indianapolis were caught on video booing and jeering after being told that the plant would be relocated to Monterey, Mexico.
A YouTube video showed Chris Nelson, the company’s president, delivering the news on Wednesday. The plant employs roughly 1,400 people.

Nelson said it was “strictly a business decision” that was made in order to “stay competitive and protect the business for the long term.”
At one point, the crowd became so boisterous that Nelson was forced to plead with the workers to get them to listen.
“I’ve got information that’s important to share as part of the transition,” Nelson can be heard saying.

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The company’s distribution center will also be relocated to Monterey, where Carrier has existing operations.

Some workers got up and left the meeting, while others shouted vulgar comments.

Related: Illinois university forced to lay off 200 workers

Carrier is owned by United Technologies (UTX) and has long been a major player in the air conditioning business. The company’s founder, Willis Carrier, invented the modern air conditioner.

The move to Mexico must still be discussed with the local union, according to a statement released Wednesday.

The will begin in 2017. It will take place over three years and should be completed by 2019.

In the statement, Nelson said Carrier understands that the decision will greatly impact “employees, their families and the community” and will work to ease the transition.

About 300 Carrier employees will stay in Indianapolis as the company’s residential production team will still be headquartered there. Carrier’s engineering group will also stay in Indianapolis.

After the move, some employees may be eligible for limited-time benefits such as the Employee Scholar Program. It covers employees’ college tuition, books and fees for up to four years.

This idiot just lost all production and quality value. You don’t tell ppl that you’re firing them a year in advance LOL.

God forbid they cut the salaries of their corporate leadership instead.

Investors Have Lost $1.78 Trillion This Year…

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BY LUCINDA SHEN

It’s happened in only 31 days.

It’s been a rough year for investors, and it’s just getting started.

The S&P 500 Index has plunged 10.5% since the first trading day of 2016, erasing $1.78 trillion in value for investors, says S&P’s Richard Peterson, a senior director of Global Markets Intelligence. On average, investors have lost a collective $57 billion per trading day this year. Ouch.

That’s roughly equal to the GDP of Canada in 2014, according to the World Bank.

The number appears as the S&P 500 extended its losses for the fifth straight day Thursday, falling 1.23% and closing at 1,829.08 Thursday—its lowest since April 2014. The Dow Jones Industrial Average dropped nearly 255 points, or 1.6%. The technology heavy Nasdaq was the relative winner for the day, down just 0.39%.

The drop in the S&P 500 on Thursday was led by a plunge in the shares of Mylan. The drugmaker’s stock fell 18% after announcing plans to buy Swedish pharmaceutical company, Meda. For the year, the S&P 500 has been led downward in 2016 by financials, consumer discretionary, and information technology sectors, posting declines of 15%, 12%, and 12% respectively.

The biggest losses in value, year-to-date, can be attributed to Amazon AMZN 0.63% , which has seen a loss of $85.9 billion year-to-date, Bank of America BAC 7.12% with a loss of $64.2 billion, and Alphabet GOOG -0.35% , which saw $50.9 billion erased.

Global economics have also played a part shaking investor confidence: Jitters about growth in theChinese economy have reverberated across global markets as oil prices continue to fall, with no OPEC deal in sight.

Now some are beginning to wonder if the relationship between the economy and the market will flip. Will the drop in the stock market because of the huge loss of wealth drag the U.S. economy into a recession? Some economist believe that lower stock market values cause people to spend less, which is the so called wealth effect. Others have argued that drops in the stock market really don’t impact spending. What’s more, the $1.75 trillion drop comes after years of gains for investors, in which the stock market value of U.S. corporations rose from $14.9 trillion at the end of 2009 to a peak of nearly $23 trillion in the middle of last year.

Unfortunately, we may get to see which side of that argument is right.