Archive for the ‘news’ Category
March 17th, 2012 | 
Author: NoisyRoom.net » Blog Archive » Is The Economy Improving?
noisyroom.net3/6/12
The President and his media are telling us that the economy is improving and their propaganda machine is in overdrive. Here is an AP survey that's hot off the presses, “More Optimism about US Jobs and Economy.” …
Is your personal economy improving? – Cafferty File – CNN.com Blogs
caffertyfile.blogs.cnn.com3/5/12
FROM CNN's Jack Cafferty: Four in 10 Americans say the U.S. economy is growing. That's up from 27% last April and just 3% in 2008. The flip side of the new USA Today/Gallup Poll is that 46% say the economy is in a …
The entire Obama administration’s claim that the economy is improving is based on phony numbers and rigged statistics.
And nothing is more misleading than the recent claims that the economy added over 200,000 jobs during each of the past three months and that unemployment is stable at 8.3%.
Dr. John Hussman of the Hussman Fund says that the claims of job gains are based entirely on weighted figures.
"Total non-farm employment in the U.S., before seasonal adjustments, fell by 2,689,000 jobs in January and then the spin doctors at the Bureau of Labor Statistics went to work".
"Because it’s typical for the economy to lose a large number of jobs after the holidays, largely in retail trade, construction and manufacturing, the BLS estimated that the ‘normal’ seasonal decline in employment should have been 2,932,000 jobs in January".
"The difference between the two numbers was 243,000 jobs, which was reported as an increase in employment".
Hussman notes that the "adjustment" in 2011 and 2012 was more exaggerated than in any year since the 1960s and says that had the standard adjustment been used, instead of the modified figure that the BLS applied, then the total number of new jobs created would only have been about 60,000 for January.
"We’ve had a remarkably mild winter in the U.S., particularly in January, and it’s clear that this has favorably affected both construction and retail activity. Ironically, however, nothing in the seasonal adjustment actually adjusts for this purely seasonal effect".
The Fantasy
The stable-unemployment-rate fantasy is also based on a steady decline in the number of people in the labor force, despite population increases.
The current number of people in the labor force, which is the denominator used in determining the unemployment rate, is the lowest since 1981.
Economist Peter Morici writes that,
"If the adult participation rate in the labor force was the same today as when Obama became president, unemployment would be 11%."
Morici also notes that,
"Adding adults, who say they would re-enter the labor market if conditions improved and part-time workers who would prefer full-time positions, the unemployment rate becomes 15.2%".
"And factoring in college graduates in low skill positions, like counter-work at Starbucks, unemployment is closer to 20%".
Gallop And Rasmussen
Gallup, which predicts election results with incredible accuracy, uses the same survey methodology to develop its own unemployment rate and now reports that it stands at 9.1%, a 0.6 percentage-point increase since last month.
Fortunately, the American people are using their own eyes, and not Obama’s statistics, to figure out what is really going on.
Obama’s approval ratings, as measured most accurately by Gallup and Rasmussen, show a drop from 51% a month or two ago to the low 40s now.
And Rasmussen shows Romney beating Obama by 4 to 6 points.
What Are Obama’s Chances Of Reelection?
At 42% of the vote in the trial heat, the president is facing a crushing defeat, because the vast bulk of the undecided vote always goes against the incumbent.
With gas prices surging, the economic data will only get worse.
The Congressional Budget Office (CBO) report on the economy predicts slow growth and higher unemployment in the near future, and Hussman says that,
"Overall, an economic downturn remains the most likely prospect".
Posted in 2012, administration, economists, job losses, jobless rate, layoffs, news, politics, stimulus, Unemployed, Unemployment, unemployment rate, US economy | 
1 Comment »
Israel Matzav: IDF considering missile interceptors for gas rigs
The IDF is considering installing missile interceptors on Israeli gas rigs in the Mediterranean. The interceptors are meant to defend against Hezbullah, although I wonder whether it might be more likely that the rigs will need to …
Again, Israel find the Lord's blessing(Oil and Gas) March 13, 2010 …
frankdimora.typepad.com3/13/12
This is a special note to anyone who chooses to read my prophecy documentary. My book was written in the hope that those reading it will be driven to the Bible where they should have been in the first place….
Modiin Energy and Adira Energy Corporation just announced an oil and natural gas discovery at their offshore Gabriella and Yitzhak Licenses, which are situated just 24 km northwest of Tel Aviv.
According to Adira, Gabriella and Yitzhak have a best estimate of 232.2 million barrels of oil, including 110.1 million barrels of contingent oil.
Together, the Gabriella and Yitzhak licenses have a best estimate of 1.8 trillion cubic feet of natural gas with drilling set to begin at end of year.
Shallow Water
The discoveries were made in the Jurassic strata, located in shallow water 24 kilometers northwest of Tel Aviv and estimates are based on a 3D seismic survey by Netherland Sewell & Associates Ltd. (NSAI).
In its notice to the TASE, Modiin says the best estimate for Gabriella is 128.4 million barrels of oil.
Adira, a Canadian company, owns 30% of the Gabriella license and 85% of the Yitzhak license.
Modiin, controlled by Tzahi Sultan and Nochi Dankner through IDB Holding Corp. Ltd., owns 70% of Gabriella.
Gavrieli said that the discovery is,
"Significant! Surveys conducted in recent months found oil in the target strata. The potential oil reservoir is 128 million barrels of oil, and the contingent reserves are an additional 120 million barrels".
"The Gabriella license in near shore in shallow water. At a time of soaring oil prices, this is good news for IDB, Modiin, Adira, and for the Israeli economy, which is trying to diversify its energy sources".
He later hinted that it will be easier to produce oil than natural gas from Gabriella.
"Modiin today became a leading player in Israel’s energy market. This is good news; we found high quality oil inshore, which can be extracted. A previous well there produced 500 barrels of oil a day. In other words, we have an oil target in commercial quantities that can meet Israel’s energy needs for 18 months".
The natural gas discovery is a fifth the size of the 9 trillion cubic foot deep water Tamar discovery, owned by Delek Group Ltd. (TASE: DLEKG), Noble Energy Inc., and Isramco Ltd. .
Sultan said,
"Bottom line, there is oil. It’s 100%. Secondly, the quantities are commercial".
Asked by Globes about the timing and costs of a well, Sultan replied,
"Drilling at Gabriella should begin by the end of the year. We’re now working on the budget, and when we have a figure, we’ll notify the TASE. I believe that, during 2013, we’ll have more figures about the production rates, and a precise figure on the size of the reservoir. As for actual oil production, it will be about five years to the first well".
Adira CEO Jeffrey Walter said,
"There’s a best estimate of 79 million barrels of oil at the Yitzhak license and an additional 25.6 million barrels of contingent oil, as well as one trillion cubic feet of natural gas. I said that I came to find oil and gas and was laughed at. I was told that there is no oil here. They were wrong".
Walter said that the latest technologies have been used to discover oil and gas in the Eastern Mediterranean following the discoveries in Syria and Egypt.
Describing the Syrian-Egyptian arc, which passes through Israel, he said,
"We’re now connecting the dots".
Israel’s Shale Oil
What is perhaps less well-known, but is perhaps of equal or more imoportance, is that a new assessment that was released late last year by Dr. Yuval Bartov, who is the chief geologist for Israel Energy Initiatives, at the yearly symposium of the prestigious Colorado School of Mines suggests that Israel’s oil shale reserves are the equivalent of 250 billion barrels which can be put into perspective by comparing it to Saudi Arabia’s proven reserves of 260 billion barrels.
