Midtown Facts
Although Midtown is a rather vague term for an area in Memphis, it basically entails Central Gardens, Overton Park, Hein Park near Rhodes College, Cooper Young, Annesdale Snowden, Little Hanoi and the Parkway.
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- February 21, 2012 - Chi Town Gets Gas Break - The Chicago area, which usually leads the nation's highest gas prices, is getting a break at the pump. - Patrick DeHaan, a senior petroleum analyst for GasBuddy.com, says Chicago's apparent discounted gas prices are partly due to local refineries clearing out the winter blend gas to make room for cleaner-burning summer blend. - "Prices across Chicago continue to buck the national trend and have gone down in the last week," said DeHaan. "The national average has gone up 5 cents last week and Chicago dropped about 9 cents a gallon last... More →
- February 19, 2012 - Michelle on Vacation - Again - Michelle Obama has embarked on a skiing vacation with her daughters in Aspen, Colorado, according to the Aspen Daily News. The first lady, who just returned last month from 17 days of relaxation in Hawaii, is skiing in Colorado on Presidents' Day Weekend for the second year in a row. Last year she went to... More →
- February 19, 2012 - Muslim Warned Us - As reported at Gatewaypundit: On May 10, 2008, Sheik Muhammad ABu Al Qat said on TV, "let me bring good tidings to the Muslims: Allah willing, the American empire will very soon collapse...This won’t happen as a result of war. Not at all. Allah will send to America an American Gorbachev, from within. Gorbachev, who brought about the USSR collapse, was one of them. Everybody knows this story. An American Gorbachev will surface in America, and he will destroy this... More →
- February 18, 2012 - For It, But They Don't Want to Pay It - As orthodox Catholic author Steve Kellmeyer points out (in americanthinker.com): - On the one hand, the USCCB (United States Conference of Catholic Bishops) is attacking Obama for forcing them (the bishops) to pay for contraception. On the other hand, the USCCB is pushing forward the idea that taxpayers should pay to extend unemployment insurance (again). - And that's just the beginning of the rich irony. You see, almost none of the parishes in the United States pay unemployment insurance. They get dispensed from the mandate to do so because they are religious organizations. So, if you are employed by a Catholic parish and you get laid off, so long, sucker. You can't collect unemployment because your bishop hasn't paid into unemployment for you.... - Read more:... More →
- February 17, 2012 - Uh Oh - This note from Zerohedge blog: - while we know that total debt to GDP is already over 100% and unlikely to ever decline back to double digits, thus putting into question the marginal utility of debt to generate further economic growth, another just as important question is what is the incremental utility of tax revenue relative to debt issuance, i.e., is America now issuing more debt than it is collecting from tax revenues: a step which would further cement its status as a banana debt... More →
- February 15, 2012 - Not Prepped for This - Sipsey Street Irregulars blog has this item: - "Just days after appearing on the National Geographic TV Show Doomsday Prepper, a prepper from Tennessee has been declared Mentally Defective and his guns have been seized by the government." His first mistake? -- Going on TV and expecting anything different than what he got. Not that this isn't an outrage, just... More →
Q4 GDP Weak By Georgeann King, on January 27th, 2012 Today’s report on the fourth quarter GDP was disappointing. ZeroHedge blog describes why:
The US economy grew at a 2.8% annualized pace in the supposedly blistering fourth quarter, yet the number was a disappointment not only in that it missed estimates of 3.0% (and far higher whisper numbers) but when one looks at the components, where a whopping 1.94% of the upside was attributable to a rise in inventories as restocking took place. And as everyone knows in this day and age a spike in inventories only leads to sub-cost dumping a few months later. In other words, the economy grew at a 0.8% pace ex inventories. Yet for all intents and purposes, this is considered “growth.” Personal consumption was also weaker than expected coming in at 2.0% on estimates of 2.4%. Perhaps the only silver lining was Core PCE which came at 1.1% on expectations of 0.9%, however as discussed extensively before, this was driven by an unsustainable surge in credit-binge spending, primarily for iStore trinkets, and is hardly sustainable especially as the US Savings Rate fell to 3.7% in the fourth quarter, the lowest since Q4 2007. In other words Joe Sixpack is living large, especially since Joe Sixpack no longer has to pay his mortgage. Unfortunately this is a collision course with every economic principle and the next taxpayer funded bank bailout is only a matter of time. Bottom line: the artificial economic pick up is over and Q1 will see inventories actually detract from GDP: as a reminder Q1 2011 GDP subtracted 1.8% points from the final 0.4% GDP, and that was following only a 0.9% inventory rise in the preceding quarter, Q4 2010. And that is not even mentioning the tight fiscal situation no longer being a benefit to growth. Oh yes, and gas is no longer falling. And not to even mention that the GDP deflator mysteriously imploded from 2.6% to 0.4%: that’s odd – not even edible ipads seem to be coming down in price. Which means that using a reslitic deflator would have resulted in virtually no GDP growth. To paraphrase Lester Burnham, “It’s all downhill from here.”
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