Car Sales Miss Expectations Across The Board

[stextbox id=”x22report”]It is very difficult for the public to purchase cars when most of the people are unemployed, underemployed or are receiving disability checks. The drop in disposable income and the drop in credit worthy people is taking its toll on the auto industry.[/stextbox]

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  • While much is being made of the ISM smash this morning and China’s ‘official’ PMI overnight, it seems cognitive dissonance is on the rise as China’s ‘other’ PMI collapsed and US Construction Spending dropped precipitously. It was only a month ago that ISM was sub-50 and that housing (and construction spending) was set to lift us out of the growth-scare. Apparently not. But there is another pillar of this recovery that has been stalwart during the equity market rally – that of US auto sales… until now…
  • *FORD U.S. VEHICLE SALES UP 11%, EST. UP 17%
  • *GM JULY U.S. VEHICLE SALES RISE 16%, EST. UP 20%
  • *CHRYSLER JULY U.S. VEHICLE SALES UP 11%, EST. UP 16%
  • It seems that all that channel-stuffing, subprime-lending, term-extending has hit its peak as, despite smiles and being ‘pleased’, US auto companies are underperforming expectations (as Ferrari exceeds).

 

Car Sales Miss Expectations Across The Board

White House ‘extremely disappointed’ with Russia

[stextbox id=”x22report”]The US want Snowden back for leaking information on what the NSA was doing. The NSA is in violation of the 4th Amendment, they were spying on Americans.  They are they ones that need to be held accountable. They continually lie to the public, first we are not spying, then we only collect meta data, now we collect all data but we don’t listen to it. So who is in the wrong, who are the traitors.[/stextbox]

  • The United States is “extremely disappointed” in Russia’s decision to grant asylum to National Security Agency leaker Edward Snowden, the White House said Thursday.
  • In its first public response to Russia’s move to defy U.S. wishes, the Obama administration said it was not a positive development for U.S.-Russia relations and said that it undermined Russia’s record of law enforcement cooperation with the U.S. The White House added that a planned fall summit between President Barack Obama and Russian President Vladimir Putin is being re-evaluated here.
  • “We are extremely disappointed that the Russian government would take this step despite our very clear and lawful requests in public and private that Mr. Snowden be expelled and returned to the United States,” said White House spokesman Jay Carney.
  • Carney said that Moscow had given the U.S. no advance notice before announcing its decision to grant Snowden asylum for one year. But he added that the U.S. has a wide-ranging relationship with Russia, suggesting the U.S. was reluctant to allow relations to deteriorate too substantially over the American fugitive’s status.
  • Snowden left the transit zone of a Moscow airport and officially entered Russia after authorities granted him asylum, his lawyer said. The U.S. demanded that Russia send Snowden home to face prosecution for espionage over his leaks that revealed wide U.S. electronic surveillance programs, but Putin dismissed the request.
  • The move by Moscow Thursday could further strain U.S.-Russian relations that have already been tested because of differences over Syria, American criticism of Russia’s human rights record and other disputes. Putin has said that his decision on asylum was contingent on Snowden not hurting U.S. interests.
  • Carney wouldn’t say whether Snowden is in possession of further information about spying practices that could damage the U.S. if released, but said the fact that Snowden removed classified information from secure environments, bringing documents with him to Hong Kong and then to Moscow’s airport, posed a risk in and of itself
  • “Mr. Snowden is not a whistleblower” or a dissident,” Carney said. “He is accused of leaking classified information.He should be returned to the United States as soon as possible.”

White House ‘extremely disappointed’ with Russia

Boehner Prepares To Kick The Can Again: “It’s In The Nation’s Interest”

[stextbox id=”x22report”]The can will be kicked down the street once more, they will raise the debt ceiling for the 15th time and it will be business as usual. The government is out of control with spending and they can’t stop, if they stop all programs will cease to function and they are not about to have this happen. The revenue being brought in by taxes is not enough to sustain what the government spends. [/stextbox]

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  • While vainly attempting to look like he is still in the driver’s seat, it would appear that John Boehner has once again folded on fiscal conservancy. “It’s clear that we’re not going to have the appropriations bills finished by Sept. 30,” Boehner noted this morning, adding “I believe a continuing resolution for some short period of time would probably be in the nation’s interest.” So it’s for our own good – especially as the Fed is set to Taper – that we keep borrowing and spending. But, Boehner adds after seemingly kicking the can, “the idea of operating for an entire year under a CR is not a good way to do business. And I’ve been working try to find a way to actually do all of these appropriations bills.” Indeed, get back to work, Mr. Boehner.
  • Via Politico,
  • House Speaker John Boehner said Congress should pass a short-term government funding bill in September, but he still wants to finish the eight spending bills that the House hasn’t completed.
  • Congress has struggled to pass spending bills this year, so Boehner’s goal seems a bit lofty to say the least.
  • Most of the government has been operated under a CR since March, but the fiscal fights start anew next month. The government runs out of cash on Sept. 30. Congress leaves town Friday until Sept. 9.

Boehner Prepares To Kick The Can Again: “It’s In The Nation’s Interest”

Obama To Meet With Lawmakers On NSA Surveillance

[stextbox id=”x22report”]If the NSA spying was so great and they need to stop terrorist why didn’t they know anything about the Boston Bombing, oh that’s right because they were the ones that caused the false flag.  The spying is to blackmail government officials, judges, spy on investors, patents and people. It is being used to place people into categories and place them on lists to be rounded up during the economic collapse.[/stextbox]

  • President Barack Obama continued to defend the National Security Agency’s widespread surveillance programs behind closed doors to Senate Democrats on Wednesday, but on Thursday he faces a tougher audience.
  • But according to Sen. Ben Cardin (D-Md.), the president was firm in his defense of the programs in their current form.
  • “He was very strong about the fact of keeping America safe and doing it in a way that respects the privacy of Americans,” Cardin told reporters in response to a question from HuffPost. “He felt there’s always ways to improve, but that the knowledge factor of what is being done currently, if most Americans really focused on it, they would want us to do what they’re doing.”
  • Maine Sen. Angus King, an independent who caucuses with Democrats and serves on the Intelligence Committee, said Obama reiterated his call for a “balance” between privacy and national security, but also invoked the Boston Marathon bombings as an example of where data collected by the NSA helped “identify whether there was a great plot.”

 

Obama To Meet With Lawmakers On NSA Surveillance