When Lakshman Achuthan, co-founder of Economic Cycle Research Institute (ECRI) appeared on CNBC to defend his prediction last September of an “imminent” recession, challenges came from many observers, including Tom Keene and Ken Prewitt of Bloomberg and Jon Stewart of The Bonddad Blog. Each pointed to an array of economic indicators that appeared to make Achuthan’s prediction appear almost silly: jobs data improving, auto sales increasing, homebuilders stock prices bouncing, consumer sentiment positive, and others.
White House announcements celebrating the jobs report from the Bureau of Labor Statistics (BLS) were optimistic: “Private sector employers added 233,000 jobs to their payrolls in February [which] means the economy has added jobs for 24 consecutive months…” This illustrates “the progress of the last two years and the importance of doing everything we can to continue strengthening our economy and creating jobs for the months and years ahead,” wrote Megan Slack on the White House blog. Alan Krueger, chairman of the Council of Economic Advisors, was equally enthusiastic:
Former Sen. Rick Santorum won an overwhelming victory this weekend in the Kansas GOP presidential caucuses with more than half of the popular vote, while ex-Massachusetts Gov. Mitt Romney took first place in Wyoming after doing well on Super Tuesday last week.
It’s been nicknamed “pink slime,” the USDA has purchased seven million pounds of it this year for inclusion in school lunches and whatnot, and — perhaps most disgusting of all — it may be a secret ingredient added to the ground beef you buy at the grocery store or that is in hamburgers at the local fast food restaurant you frequent.
President Barack Obama’s connections to the radical left go beyond his close friendships and association with black liberation preacher Jeremiah Wright and communists Bill Ayers and his wife, Bernadine Dohrn, the Weather Underground terrorists who planted bombs that killed a police officer and others in the 1960s.
Students at Boston’s Northeastern University have succeeded in blocking fast-food chain Chick-fil-A from opening a franchise on the school’s campus, following complaints that the company financially supports organizations that have an “anti-gay” bias.
Rep. Ron Paul of Texas was the clear winner in the U.S. Virgin Islands’ Republican presidential caucuses, having won almost 30 percent of the popular vote. In a stunning reversal of past reporting standards, however, much of the “establishment” press declared the victor to be Mitt Romney, who took only around 26 percent but ended up with more delegates.
In yet another sign that the looming American debt crisis is close to spiraling out of control, February’s monthly federal deficit was the highest ever recorded — $229 billion, according to a report released last Wednesday by the Congressional Budget Office.
Leaders throughout Latin America are increasingly hinting that they may defect from the United Nations-inspired and U.S. government-led “War on Drugs.” But the Obama administration, despite adding trillions in new debt in recent years, forcefully vowed to continue pursuing the controversial war while pledging more American taxpayer funds to foreign governments for the battle.