Recession a wakeup call for elite hotels

Hotels in Chicago, as well as other big cities, are offering dramatic bargains to draw visitors during this economic lull.

Here, the prestigious Drake Hotel, famous for hosting Princess Diana during her only visit to Chicago 13 years ago, started the price war among Chicago hotels last January that continues today.

The Drake started offering a $95-a-night rate in January that dared others to follow, said a rival hotel executive who declined to be named. That rate ended in mid-April, but Chicago's hotels continue to offer deals.

The bottom dropped out last September as the Wall Street financial crisis became apparent.

"It was as if someone turned a switch off. We saw reservations shut off," said Lisa Aviles, director of revenue at the Allerton Hotel.

The result is great savings for vacationers -- especially Midwestern families coveted as the best possible revenue generators -- but has led many Chicago hotels to lose 15 to 30 percent of their revenue per available room, insiders said Monday.

No one from the Drake could be reached for comment Monday, but the hotel now is charging peak-time summer rates. The absolute lowest quoted rate is $319 per night, although the TravelZoo Web site lists a $139 rate available at the Drake.

Besides low prices, hotel executives quote deals that add to a traveler's experience. At the Drake, it's the "American Girl Doll" package for two adults and one child at $414 per night, which includes a free buffet breakfast, baked cookies and milk during turn-down service each evening, a guided tour of the Drake Hotel and an American Girl Doll bed to take home.

Here are other examples:

** The Allerton Hotel at 701 N. Michigan Ave., which underwent an $11 million renovation last year, offers a lowest-possible rate of $128. The cheapest of its four summer packages is the "Historic Architectural Experience" starting at $229, with free breakfast for two, a disposable camera, two tickets to the Wendella boat tour and free wireless Internet access.

** InterContinental Chicago at 505 N. Michigan Ave., famous for its "Johnny Weissmuller (Tarzan)" junior Olympic indoor pool, starts at $139 and is offering eight summer packages. The "Hot Summer Nights" package offers a $199-per-night stay, including 50 percent off valet parking and 50 percent off food and non-alcoholic beverages at the hotel's restaurant, Zest.

That compares with a yearly average rate of $249 to $299 per night.

** Sofitel Chicago at 20 E. Chestnut starts at $215 per night. Its lowest-priced summer package offers a three-night stay at a cost of two nights, bringing the per-night rate to $143.

The average non-discounted rate is $325 for one night.

** The Peninsula Chicago at 108 E. Superior offers a $395 special summer rate. Its lowest-priced "Summer Splendor" package starts at $450 a night and includes a $100 gift-certicate at check-out toward a future stay.

A non-discounted rate would start at $575 for a superior room with a king-size bed.

"We are primarily focused on attracting the driving audience within 500 to 700 miles," said Marc Anderson, director of marketing for the Peninsula Chicago.

Said Bart Ansems, director of revenue at Sofitel Chicago, of the offers, "There is such high availability (of rooms). ... We are fighting for the same business."

專家：「天狗噬日」通信GPS將受影響

明天「天狗噬日」將發生數百年難得一見日全蝕，專家指出，日蝕期間，能見度下降、氣溫降低、溼度上升，電離層會出現擾動，將對通信、全球定位系統GPS等造成影響。

據新華社綜合國際專家觀點報導，日本信息通信研究機構利用電腦模擬實驗預測說，日蝕期間，距地面70公里至500公里的電離層會出現擾動，將給短波通信、全球定位系統等帶來影響，車用GPS等利用全球定位系統的儀器可能因此出現偏差。

對於日全蝕的發生原因，科學界早已有一致的觀點，即月球運行到太陽和地球之間時，月球擋住全部太陽光球所致，是一種常見的自然天象。

法國里昂天文台專家魯蒂里說，一般日全蝕帶掃過區域的南北寬度大約在100公里到300公里之間。只要是日全蝕帶掃過的區域都能看到這一奇觀，但天氣狀況對觀測品質會有影響。

他說，地球上每年幾乎都會發生1次日全蝕，日全蝕並不罕見。但對於絕大多數人來說，看到日全蝕的機會卻十分難得，因為日全蝕發生在同一地點的機會並不多，每個世紀也就是1、2次。

義大利天文學家甘高爾菲解釋說，日全蝕確實是一種非常特殊的天文現象，觀測日全蝕對於天文學研究具有非常重要的意義，這也是眾多天文學家不遠萬里前往日全食覆蓋帶觀測的主因。

俄羅斯天文學家尤里耶維奇說，上個世紀對日蝕的觀測發現，光經過引力場會被吸引而變彎曲，愛因斯坦的廣義相對論由此得到驗證。

此外，對日蝕的觀測還能更好地研究太陽，因為這個時候由於太陽、月亮和地球3個天體的特殊位置關係，太陽磁場會發生變化，因而有助於科學家更方便測量、對比相關參數，做出科學分析。

不過，幾乎所有專家都認為，在擁有高科技先進技術的今天，日全蝕帶來的所有不利影響都可以透過科學與生產管理部門的溝通及合理安排予以規避，不會給日常生活帶來太大麻煩。

時代週刊／除了西藏新疆 蒙古也有反中團體

美國媒體報導，與中國北方接壤的蒙古國，目前活耀著一批尊崇「納粹信條」的極端民族主義者，他們強烈的反對中國人，甚至極端的殺害與中國有關的本國人，不過報導說，他們在蒙古國內並未獲得廣泛支持 。 美國「時代周刊」7/27日提前出版的文章報導說，在蒙古國首都烏蘭巴托，類似納粹「卐」字標誌和「射殺中國人」這樣的符號和文字隨處可見，他們都出自蒙古「新纳粹」之手，他們是公認的經常進行恐嚇甚至採取暴力活動的組織。 　　 報 導稱，烏蘭巴托是三個極端民族主義的大本營，他們人數有幾千人，對於人口只有300萬人的蒙古來說，不算小數目。他們採用納粹的裝備和行頭，遵從納粹教 條，激烈反華。其中一個名為「藍色蒙古」的組織承認，曾經把本國多名婦女的頭髮剃光，原因僅僅是她們和中國男人同居。該組織領導人去年也因謀殺自己女兒的 本國籍男友而受到指控，原因也僅僅女兒的男友曾在中國學習。 分析稱，雖然蒙古的「新納粹」可能處在社會邊緣，但他們卻代表了一種真實存在的極端民族主義潮流。蒙古夾在俄羅斯和中國兩個大國中間，很多蒙古人擔心在經濟和民族上遭到「殖民化」，在此種心理作用下，一些極端份子就對外來人採取敵視態度。

Google Earth goes to the Moon 紀念登月40年 Google推出虛擬月球探險

To mark the 40th anniversary of the Apollo 11 Moon landing, Google is offering a trip to the Moon, courtesy of Google Earth.

Moon in Google Earth is an interactive 3D atlas of the Moon, viewable with Google Earth 5.0.

With Moon in Google Earth, users can explore a virtual Moonscape, follow guided tours from astronauts Buzz Aldrin (Apollo 11) and Jack Schmitt (Apollo 17), see the latest rover concepts by teams competing in the Google Lunar X-PRIZE, view high-resolution 'Street View' style panoramic photos, watch previously unreleased video footage captured from the lunar surface, and much more.

Moon in Google Earth will also incorporate a complete lunar terrain data-set, which will serve as the atlas' base-map.

In addition to satellite imagery and terrain, the following layers can be explored with Moon in Google Earth:
• Featured Satellite Imagery - Explore overlaid satellite imagery and detailed descriptions of selected areas on the Moon from Arizona State University's 'Lunar Image of the Week'.
• Spacecraft Imagery - View selected imagery captured by the Apollo Metric Camera, Clementine, and the Lunar Orbiter.
• Apollo Missions - Travel back to the Apollo era and discover the landing sites of Apollo missions 11-17.
• Explore "Street View"–style panoramic images, watch footage from Spacecraft Films made available online for the first time, and read about the places astronauts saw on their trips to the Moon.
• Guided Tours - Take a narrated tour of the Moon from Apollo astronauts Buzz Aldrin (Apollo 11) and Harrison H. Schmitt (Apollo 17).
• Historic Maps - Discover Apollo-era geologic and topographic maps of the Moon that were used in mission control for trips to the Moon.
• Human Artifacts - Learn about the various types of exploratory equipment that humans have left on the Moon and where those objects can be found today. Artifacts from the United States, the Soviet Union, China, the EU, Japan, and India are included, some of them as 3D models.

To experience Moon in Google Earth, open Google Earth 5.0 and switch modes from 'Earth' to 'Moon' on the top toolbar. To learn more about Moon in Google Earth, visit earth.google.com/moon. Google Earth 5.0 can be downloaded at earth.google.com.




為紀念人類在40年前的今天踏上月球，Google今天在免費的「Google地球」（Google Earth）線上影像服務中，加入月球探險虛擬服務。

月球選項將與現有的地球、火星和天空，出現在首頁earth.google.com上方工具列中。想要一窺月球究竟的虛擬探險家，必須先下載並安裝免費的「Goolge地球」5.0版軟體。

Google今天推出月球服務時，特地邀請當年登月的阿波羅11號任務太空人奧德林（Buzz Aldrin）與美國航空暨太空總署（NASA）官員及X Prize基金會齊聚華府。

Google月球服務結合「Google街景」（GoogleStreet View）類型的全景照片，以及NASA在月表拍下的影片，打造出虛擬的月球地形。

阿波羅11號任務太空人施密特（Jack Schmitt）和奧德林，則為這項服務提供旁白說明。

除了虛擬月表探險，新服務也加入「人類遺跡」（Human Artifacts）功能，可以看見太空任務留在月球上的東西。（譯者：中央社李威翰）

新加坡‧德士內老婦人間蒸發‧司機稱午夜“撞鬼”

（新加坡）老婦深夜搭德士要去碧山，抵達後卻人間蒸發？

信不信由你！德士司機聲稱“撞鬼”，他在烏節路德士站載到一名老婦，要去碧山12街。豈料抵達後，他轉過頭問她要在哪裡下車，卻發現車座後沒人，嚇得他毛骨悚然。

奇怪不選擇前面德士

德士司機劉先生（65歲）說上週四深夜11時，他在幸運大廈前的德士站排隊時，一名身材矮小、身穿深色及膝連身裙的老婦，突然出現在他的德士前面，開了車門就上車。

“當時，我前面還有一輛德士，她不選第一輛，卻上了我的車，我就感到奇怪，不過，乘客有權選擇德士，所以我也沒有多問。”

老婦上車後，劉先生轉頭問她要去哪裡。

臉色蒼白
聲音沙啞無力

“她的臉色很蒼白，看起來約60歲，她以十分沙啞和無力的聲音回答︰‘碧山12街´。”

於是，劉先生按下計程表，驅車往碧山12街去。

由於交通順暢，劉先生10分鐘後就抵達了碧山12街，他在一個交通燈前停下，說︰“碧山12街到了。”

“很奇怪，她沒應我，於是，我一邊轉頭向後座，一邊重複，結果發現她消失了！

我整個人跳了起來，直打寒顫。”

乘客下車
不可能不知道

劉先生說，紅燈轉綠後，他馬上停在路邊下車，再打開後座車門徹底檢查，結果，還是沒有老婦的蹤影。

不過，他還是印出了收據，收據顯示車資是10元兩角。

劉先生說，他整理路後得出一個結論︰若不是自己“撞鬼”，就是老婦在德士站上了他的車後又下車。

“可是，如果她下車，我不可能不知道啊，總會聽到關車門的聲音。”

雖然遇到怪事，但劉先生說，他沒做過虧心事，所以一點也不怕。

超自然偵探協會：或太累產生幻覺

超自然偵探協會指出，德士司機或許是因為太累，而產生幻覺。

亞洲超自然偵探協會（API）的負責人吳安龍說，老婦上車後下車的可能性很低，因為劉先生的德士沒有自動門，所以有人開車門他一定知道，而且信號燈也會亮起。

他說，當時是晚上11時，劉先生已經65歲，他當時也許很疲累，正在打瞌睡，處於半夢半醒的狀態中。

“在他半夢半醒之時，或許是聽到、看到有人上了前一輛德士，而誤以為有人上了自己的德士，同時，他聽到有人說‘碧山12街’，然後就‘一錯再錯’，以為那個人上了自己德士的人要去碧山12街。”

新加坡‧首個私營骨灰殿‧買骨灰靈位送旅遊配套

（新加坡）買骨灰靈位，送旅遊配套！

新加坡首個“六星級”全冷氣設備的私營骨灰殿――富貴山莊（NIRVANA），預定價位較高的靈位時，還可獲贈價值相近的馬來西亞度假村住宿配套。

這個由馬來西亞富貴山莊有限公司投資5000萬元（約馬幣1.2億令吉）的骨灰殿是位於舊蔡厝港路，也就是過去的骨灰安置所極樂寺（又曾改稱安樂山莊）。富貴山莊集團目前正在分階段進行重新裝修工程，2011年裝修完成後富貴山莊總共有4萬多個“六星級”骨灰靈位。

今年9月投入服務

不過，這間骨灰殿將從今年9月1日起就開始投入服務。

凡是訂購價位介於8800元至2萬3800元骨灰靈位的首1000名客戶，將獲贈相近價值的馬來西亞成功集團度假村的住宿配套。

例如選購2萬3800元優質豪華骨灰靈位的客戶，就可以享有多達70個晚上的度假村住宿（可分階段享用）。

富貴集團董事經理∕首席執行員拿督鄺漢光說，送旅遊配套是為了與顧客維持良好的關係，而且富貴集團與成功集團向來合作密切，因此送出到馬來西亞度假村的住宿配套。

促銷優惠還包括澳門遊

此外，富貴山莊給客戶的其他促銷優惠還包括3天2夜的澳門遊，以及免費骨灰甕（促銷配套有附加條件）。

它們分為單人、雙人、優質豪華和頂樓豪華間，首批約1萬5000靈位將讓各界預購。

新加坡‧被控在夜總會裸體‧中國女郎謊稱大學畢業

（新加坡）美貌女郎被指裸體又謊稱是大學畢業生！

一名被控在夜總會裸體的中國女郎，涉嫌在申請就業準證到新加坡公司當經理時，撒謊說是大學畢業生。

33歲的曹艷（譯音），今日（週二，7月21日）早上出庭時，身穿黑色T恤加米色外套和牛仔褲，一頭長發綁馬尾，臉上略施脂粉。

她面控後，她的代表律師表示剛接辦此案，要求展期，法官諭令案展8月18日過堂，並准被告繼續以5000元保釋。

被告之前面對的控狀，指她於去年5月31日凌晨零時10分，在經禧路一間夜總會的廂房裡赤身裸體，觸犯雜項犯罪（公共秩序與騷擾）法令。

在有關法令下，一旦罪成，可被判罰款高達2000元，或坐牢長達3個月，或兩者兼施。

她是在週二案件過堂時被加控，指她於2007年10月20日向人力部申請就業準證，到新加坡一間建築和貿易公司當市場銷售部經理，在申請表格上虛報畢業於中國南昌大學，觸犯雇用外來人力法令。

一旦罪成，最高刑罰是罰款1500元，或坐牢12個月，或兩者兼施。

新加坡‧經濟不景減少投資‧高收入者增加儲蓄

（新加坡）調查顯示，隨全球金融危機的出現，新加坡的高收入者把更多的錢用於儲蓄，並減少投資。

尼爾森（Nielson）的調查顯示，金融危機前，新加坡39%的高收入者將大部份的錢用於儲蓄。

不過，隨經濟不景氣到來，則有超過半數的人（52%）把錢儲蓄起來。同時，把錢用來投資（-7%）和購買保險（-6%）的高收入者也減少。

此項調查是在今年3月進行，旨在研究新加坡的高收入者在金融危機前後如何運用他們的可支配現金。921名18歲及以上、月收入超過7000元的新加坡人接受了調查。

Faked moon landings, creationists, and 9-11 truthers

The Apollo moon landings were a hoax.

Bigfoot is real.

Creationism is valid science.

The Holocaust didn't happen.

9-11 was an inside job.

In fact, spend just a little time online and you'll find entire digital societies blindly devoted to these positions. I say “blindly” because at the end of the day, not a single scrap of real evidence is ever offered to indicate the existence of a freethinking mind in their midst.

Never before in history has information been so easily accessible; we live like sorcerers who can snap their fingers and download data from the air. And perhaps that’s part of the problem: Things are too easy, and we can just as readily click on a professionally peer-reviewed site as we can the website of the Flat Earth Society. And since the media seems unwilling to give up their Circus Maximus of “liberals-and-conservatives” any time soon, no side of the political spectrum has a monopoly on being, well, idiotic.

Last year, a fellow from South Carolina tried convincing me that the WTC buildings on September 11th 2001 had been brought down by demolitionist conspirators. He sent me a link to the video Loose Change, which I watched and then explained to him how, when, and why that video has been completely discredited. It's not that I didn't think the Bush Administration was a band of lying thugs whose damage to this country would take years to recover from. It's not that I didn't think certain members of government broke out champagne in the hours following the attacks, because of the opportunities it gave them.

But if you're going to make claims that the towers weren't hit by the planes in question, or that there was controlled demolition, or that it was all a cover to steal gold from beneath the WTC site, or that reptilian aliens have mixed their blood with English royals in time to watch reruns of V: The Series, you better be prepared to provide documentation that stands up to scrutiny.

As a point of contrast, I asked my friendly emailer to respond to the many counter-points that now exist. My correspondent flatly refused to oblige. Then I ask him if he would address a few other points of interest behind the making of the Loose Change video...

Twenty seconds later, I get this reply (mispellings and all): “You are blind, or wosre you are a zionist shill go to hell.”

I told him I'd need to see some evidence for Hell. He didn't respond.

On the other side of politics and far and away my favorite example of American Unthinkers are the Creationist crowd. Creationists clutch their beliefs like a lost Amazon tribe’s devotion to spears. There’s almost something noble in their lack of cognition.

Evolution is taught in schools because, like it or not, it suffers from the condition of being supported by factual data. It doesn’t require belief. Belief is something that is done in absence of facts.

For example, I don’t believe that there are fish in the sea. Rather, I have seen the evidence for fish in the sea and accept that evidence. I have read books and seen documentaries and yes, I have actually fished and caught fish. It’s not an issue of belief.

I don’t believe that mankind landed on the moon. I have seen the evidence for it and accept that evidence. The so-called "proofs" from the anti-landing crowd dissolve at the first light of serious scrutiny; their position is rooted in misinformation, sensationalism, and ignorance. By the same token, I don’t believe in a Hollow Earth, chupacabras, or the flying spaghetti monster, because the evidence for all three is less than compelling.

Creationists are just like the 9-11 conspiracy buffs --

though here is a more accurate rendition of them:

All they have is raw belief, couched in the glitzy wrapping paper of ignorance and dishonesty. It’s precisely the same mindset used in the Salem witch trials:

“I had a dream that my neighbor turned into a black cat.”

“Do you have any proof?”

“Dude, that IS the proof. Spectral evidence, remember?”

“Oh right, sorry. Hang her.”

The problem with Unthinkers is that they believe things blindly, and so they think that everyone else does. Rational thinking requires a rational process. It’s not about being narrow-minded – in fact, it’s about being open to possibilities… while applying the test of evidence and method to those possibilities.

Does Bigfoot exist? Maybe… but I’ll need more evidence than blurry photos of Chewbacca to convince me.

Americans face very serious issues today – questions on terrorism, war, economics, the environment. And things are about to get a whole lot more complicated: the horizon is filling with debates over cloning, genetic engineering, and ever-more-invasive spyware technologies.

If we can’t address today’s problems with a clear-thinking honesty, how do we face the problems of tomorrow?

Retailers are fearful of a CIT bankruptcy

Lending firm provides loans to many stores

FROM NEWS WIRE SERVICES

WASHINGTON — The potential bankruptcy of lending firm CIT Group threatens to disrupt the flow of merchandise between retailers and their vendors just as they are gearing up for the crucial holiday season.

Three prominent retail trade groups sent letters to financial regulators this week warning that the failure of CIT would rip a hole in the industry supply chain.

Dunkin’ Donuts said the ability of its franchisors to open new stores or expand operations could be affected. And New York bankruptcy lawyer Jerry Reisman said he received more than two dozen calls from panicked stores and apparel manufacturers, some of which said they may not have the money to pay their employees today.

“They are unbelievably concerned right now,” Reisman said. “What we may have here is a total disruption in small business.”

CIT plays an important behind-the-scenes role in the retail industry. When stores place orders for merchandise, they typically have two to three months to pay for the goods.

Suppliers hand those IOUs over to lenders such as CIT—a process known as factoring — which in turn provide suppliers with cash upfront to make their merchandise. If that system were to be disrupted, industry experts said, the result could be barren store shelves and a ruined Christmas.

The ripple effect could be as simple as a zipper supplier who can’t rely on CIT to advance payment for orders. That would then hurt trucking compa-

nies that would ship the zippers and overseas factories that need the zippers to make dresses. That could mean mounds of zipperless dresses at factories or piles of goods sitting on docks.

“CIT is like an octopus with its tentacles that reach out to so many industries and sub-industries,” said Jeffrey Knopman, a principal at Profit Solutions Group, which helps suppliers recover chargeback money from merchants.

As a CIT bankruptcy filing loomed, industry trade groups increased their pitch to lawmakers to prevent the collapse of CIT, which they say would imperil their small-business members and derail the already fragile economy.

“This is a potential crisis for Main Street,” said Kevin Burke, president and chief executive of the American Apparel and Footwear Association. “The industry is already battling less inventory and battling a recession. If you can’t get the product, how do you get consumers into the store?”

Bud Konheim, president of designer dress firm Nicole Miller, said any disruption in manufacturing caused by a lack of financing could shut down the pipeline for new goods. His company depends on CIT to finance its fabrics.

CIT had asked the federal government for help in avoiding bankruptcy, but officials this week refused to step in. The Treasury Department lent $2.3 billion in to the company in December. Some officials now expect that investment to be lost.

Any disruption in financing couldn’t happen at a worse time for retailers. Stores have slashed inventory to respond to lower demand, and this holiday, analysts expect inventories to be down as much as 20 to 30 percent. Sherman said that if suppliers can’t finance their orders, consumers will see even fewer choices in the stores.

Furthermore, he noted that if vendors can’t get their financing, some retailers may have to pre-pay for orders.

Cost Of Bailout Hits A Whopping $24 Trillion Dollars

$80,000 for every American

Paul Joseph Watson

According to the watchdog overseeing the federal government’s financial bailout program, the full exposure since 2007 amounts to a whopping $23.7 trillion dollars, or $80,000 for every American citizen.

The last time we were able to get a measure of the total cost of the bailout, it stood at around $8.5 trillion dollars. Eight months down the line and that figure has almost tripled.

The $23.7 trillion figure comprises “about 50 initiatives and programs set up by the Bush and Obama administrations as well as by the Federal Reserve,” according to the Associated Press.

In testimony which will be delivered to the House Oversight and Government Reform Committee tomorrow, Neil Barofsky, the inspector general for the TARP, will tell Congress that “the Treasury Department has repeatedly failed to adopt recommendations aimed at making the TARP program more accountable and transparent.”

According to Barofsky, taxpayers are in the dark as to who has received the money and what they are doing with it.

As we have repeatedly highlighted, the destination of some $2 trillion in TARP funds was the subject of a lawsuit filed by Bloomberg late last year after the Fed refused to disclose the recipients. The suit is still ongoing as Bloomberg attempts to discover names of private financial institutions that received the money.

The American people will ultimately pick up the tab as their dollar is devalued because the Fed lends the money from its own balance sheet or essentially just prints more money, as a San Francisco Chronicle article explained last year.

Wages will not keep pace with inflation and if we add to the equation the raft of new taxes being introduced by the Obama administration, the consequences are clear – another lowering of the living standard for millions of middle class Americans.

Meanwhile, Henry Paulson, one of the chief architects of the bailout and the man who committed financial terrorism by threatening the Congress with martial law and food riots if they didn’t pass the initial TARP package, brazenly pockets $200,000 in Goldman Sachs profits tax free while handing out billions in ill-gotten gains to his bankster buddies, all this after he pulled a bait and switch by changing the entire focus of the bailout from buying up toxic debt to giving money directly to financial institutions.

We dread to think what the bailout figure will be in another eight months. Will it triple again to $70 trillion dollars? How about $100 trillion dollars?

The only thing that can bring an end to the wanton looting is Ron Paul’s bill to audit the Fed, which has received overwhelming support in the House but is being blocked by the bought and paid for traitors in the Senate who would rather see a continuation of the grand larceny rather than real accountability and transparency.

Watch a CNBC discussion of the $24 trillion figure below.

Dennis Kucinich: Can You Tell Me How The Secretary Of Treasury Can Ignore Illegal Acts?

Wanye Madsen: ‘Swine flu virus began life in lab’

The Case Against the Fed

Check it out ...... http://tinyurl.com

White House putting off budget update

WASHINGTON (AP) - The White House is being forced to acknowledge the wide gap between its once-upbeat predictions about the economy and today's bleak landscape.

The administration's annual midsummer budget update is sure to show higher deficits and unemployment and slower growth than projected in President Barack Obama's budget in February and update in May, and that could complicate his efforts to get his signature health care and global-warming proposals through Congress.

The release of the update—usually scheduled for mid-July—has been put off until the middle of next month, giving rise to speculation the White House is delaying the bad news at least until Congress leaves town Aug. 7 on its summer recess.

The administration is pressing for votes before then on its $1 trillion health care initiative, which lawmakers are arguing over how to finance.

The White House budget director, Peter Orszag, said on Sunday that the administration believes the "chances are high" of getting a health care bill by then. But new analyses showing runaway costs are jeopardizing Senate passage.

"Instead of a dream, this routine report could be a nightmare," Tony Fratto, a former Treasury Department official and White House spokesman under President George W. Bush, said of the delayed budget update. "There are some things that can't be escaped."

The administration earlier this year predicted that unemployment would peak at about 9 percent without a big stimulus package and 8 percent with one. Congress did pass a $787 billion two-year stimulus measure, yet unemployment soared to 9.5 percent in June and appears headed for double digits.

Obama's current forecast anticipates 3.2 percent growth next year, then 4 percent or higher growth from 2011 to 2013. Private forecasts are less optimistic, especially for next year.

Any downward revision in growth or revenue projections would mean that budget deficits would be far higher than the administration is now suggesting.

Setting the stage for bleaker projections, Vice President Joe Biden recently conceded, "We misread how bad the economy was" in January. Obama modified that by suggesting the White House had "incomplete" information.

The new budget update comes as the public and members of Congress are becoming increasingly anxious over Obama's economic policies.

A Washington Post-ABC News survey released Monday shows approval of Obama's handling of health-care reform slipping below 50 percent for the first time. The poll also found support eroding on how Obama is dealing with other issues that are important to Americans right now—the economy, unemployment and the swelling budget deficit.

The Democratic-controlled Congress is reeling from last week's testimony by the head of the nonpartisan Congressional Budget Office, Douglas Elmendorf, that the main health care proposals Congress is considering would not reduce costs—as Obama has insisted—but "significantly expand" the federal financial responsibility for health care.

That gave ammunition to Republican critics of the bill.

Citing the CBO testimony, House Minority Leader John Boehner, R-Ohio, on Monday accused Democrats of "burying this budget update until after Congress leaves town next month." He called the budget-update postponment "an attempt to hide a record-breaking deficit as Democratic leaders break arms to rush through a government takeover of health care."

White House budget office spokesman Tom Gavin disagreed, noting the delay was "really not something out of the norm" and is typical for a president's first year. Gavin noted that President George W. Bush's budget office did not release the mid-session review in his first year until August 22; in President Bill Clinton's first year, it did not come out until Sept. 1.

Obama also didn't release his full budget until early May—instead of the first week in February, when he put out just an outline

Late last week, Obama vowed anew that "health insurance reform cannot add to our deficit over the next decade and I mean it."

The nation's debt—the total of accumulated annual budget deficits—now stands at $11.6 trillion. In the scheme of things, that's more important than talking about the "deficit," which only looks at a one-year slice of bookkeeping and totally ignores previous indebtedness that is still outstanding.

Even so, the administration has projected that the annual deficit for the current budget year will hit $1.84 trillion, four times the size of last year's deficit of $455 billion. Private forecasters suggest that shortfall may actually top $2 trillion.

Budget updates in previous administrations have given rise to charges that the White House was manipulating its figures to offer too rosy an outlook. Critics will be watching closely when the White House's Office of Management and Budget releases the new numbers.

Still, the update mainly involves plugging in changes in economic indicators, not revising program-by-program details. And indicators such as unemployment and gross domestic product changes have been public knowledge for some time.

Standard & Poor's chief economist David Wyss said part of the problem with the administration's earlier numbers is that "they were just stale," essentially put together by budget number-crunchers at the end of last year, before the sharp drop in the economy.

Wyss, like many other economists, says he expects the recession to last at least until September or October. "We're looking for basically a zero second half (of 2009). And then sluggish recovery," he said.

Even as it prepares to put larger deficit and smaller growth figures into its official forecast, the administration is looking for signs of improvement.

"If we were at the brink of catastrophe at the beginning of the year, we have walked some substantial distance back from the abyss," said Lawrence Summers, Obama's chief economic adviser.

By TOM RAUM

Fox News guest wants Taliban to kill captured American soldier [w/ video]

I couldn't believe my ears, but just minutes ago on "America's News HQ," guest pundit Ralph Peters suggested something to the effect that the Taliban should "save us the headache" and execute captured 23 year-old American soldier Bowe Bergdahl, because "it looks like" Bergdahl deserted his unit. While prefacing his comments by stressing that a military decision should not be made until all of the facts surrounding Bergdahl's capture are determined, Peters then ignored his own advice and encouraged the Taliban to kill this young man. Fox News' Julie Banderas was visibly shocked at the words coming out of Peters' mouth, but did not challenge any of his statements before awkwardly ending the segment.

• Antman11's diary :: ::
• 
  

I apologize for posting this as a diary without an accompanying transcript or video, but this was so shocking I had to spread word as fast as possible. This appears to be only the latest example of the Right's tendency to exploit and discard American soldiers whenever politically convenient (opposing soldier benefits that might hurt "retention rates," covering up the Pat Tillman fratricide, etc).

I can guarantee this exchange will be on youtube within hours.

- - -

Did I say hours? Commenter "leonard145b" found the exchange within minutes of my post. Watch it for yourself in the link below.

Here is a transcript of the exchange:

Fox News' Julie Banderas:

"So when one of our troops is captured, how do we get him back? How do we get him back safely? Strategic analyst Lt. Col. Ralph Peters joins us now. Thank you so much for talking to us. When he was capture don June 30th, apparently Bergdahl was captured while he walked away from his U.S. base camp. Many people are emailing me, and asking, 'How can a soldier walk off from a base on his own? Wouldnt there always be another soldier with him? Wouldn't he be partnered with another person?' What can you tell us about that?"

Ralph Peters:

"Well, Julie, I was to stress first of all that we must wait until all of the facts are in until we make a final judgment. But nobody in the military that I've heard is defending this guy. He is an apparent deserter. Reports are indeed that he abandoned his buddies, abandoned his post, and walked off. We'll see what the ultimate truth of it is, but if he did, if he's a deserter at wartime, well, as one of my old platoon sargeants would say, he's in 'boku deep kimchi.' Now there's another problem Julie. On that video, he is collaborating with the enemy. Under duress or not - that's really not relevant - he's making accusations about the behavior of the military in Afghanistan that are unfounded, saying that there are no rules, he's lying about how he was captured, saying he lagged behind the patrol. Julie, I'll tell you, any 11th bravo infantrymen will tell you, that's not how it works. In a war zone, any soldier is aware of where all his buddies are. If it's a night patrol, you're sure aware of where the guy in front of you and behind you is. So we know that this private is a liar. We're not sure if he's a deserter. But the media needs to hit the pause button, and not portray this guy as a hero."

Banderas:

"Wow. All right, well, I mean, obviously I don't want to speculate here. From what I know, what we know as a news agency, we watched this video - first of all, the reason we are not airing the video, the network has decided we will not air this video, because that is what his captors want. They want that message to get out there, and we're not going to do the Taliban any favors here. But in a case like this, where a soldier is taken captive, how does the military prepare for this, number one, and how do they get their guy back?"

Peters:

"Well, the military prepares for it by rigorous training. All soldiers know the code of conduct, what you are allowed to do, and not allowed to do, when you're in enemy hands. And there are strict limits. And they're for sensible reasons, because you don't want to betray information about your unit, your buddies, battle plans, etc. As far as getting him back... we don't know. First of all, I would bet that he's not even in Afghanistan anymore, I'd bet he's across the border in Pakistan. I don't know that. The best bet getting him back is tipsters, surveillance, special operations. For right now, I think he's okay. They're not going to kill him right away, if at all, because he is tremendous propaganda value. He's making anti-American statements, I mean, he wants to investigate Islam, blah blah blah.

Now look, Julie, I want to be clear. If, when the facts are in, we find out that through some convoluted chain of events, he really was captured by the Taliban, I'm with him. But, if he walked away from his post and his buddies at wartime... I don't care how hard it sounds, as far as I'm concerned, the Taliban can save us a lot of legal hassles and legal bills.

Banderas:

"All right, Lt. Col. Ralph Peters, thank you very very much. Regardless of what the situation is, we do not want to see any U.S. soldier in harm's way. And we hope this guy gets out of there safely, he's an American, he's one of ours..."

Peters (interrupting):

"Hey Julie - think about his buddies. Think about his buddies."

Banderas:

"Yeah. And of course everyone who's over there, and in his group. All right, thank you very much for talking to us."

PS - It's an honor to be on the rec list. I've been registered on this site for years, but this is only my second diary. I guess I was just channel surfing in the wrong place at the right time...

by Antman11

Fox News Military Pundit Calls Bowe Bergdahl "A Liar"

Check this link ...... http://bit.ly/1qdv6

Congressman Stearns: Mr Paulson How Do You Have Any Credibility?

Check this link .... http://tinyurl.com/nh3u88

(the vaccine song) SAY NO TO THE VACCINE by trillion (feat. pataphysics & nRt) - duplicate-

Check this link ........ http://tinyurl.com/mevxh5

1.5 Million U.S. Unemployed Exhausting Unemployment Benefits

The Emergency Unemployment Compensation (EUC) program began in June 30,2008. Benefits under the act have now been extended twice. Unless Obama extends the program a third time, it's the end of the line for many receiving unemployment benefits.

Please consider First wave of jobless exhaust unemployment benefits.

Thousands of jobless Pennsylvanians are joining the growing ranks of people around the country who are exhausting unemployment benefits, as some experts worry about another blow to a stumbling economy.

Gov. Ed Rendell said 17,800 Pennsylvanians exhausted their jobless benefits in the week that ended Saturday, the first big wave of Pennsylvanians to do so. He urged legislators to pass a bill to extend the benefits.

Around the country, the number of people exhausting their benefits is piling up. By the end of September, more than 500,000 people will exhaust their benefits checks, with the biggest groups in Pennsylvania, California and Texas, according to estimates by the National Employment Law Project, an advocacy group for low-wage workers based in New York City. That number will nearly triple by the end of the year, the group said.

New York Qualifies For Extended Benefits

As some states exhaust extended benefits other now qualify. In New York, Benefits Extended As State Unemployment Numbers Rise.

The number of jobless New Yorkers across the state jumped significantly during the month of June, according to state Department of Labor statistics released Thursday.

The unemployment rate increased from 8.2 percent in May to 8.7 percent in June. That's the highest level since October of 1992.

In New York City, the rate increased from nine percent in May to 9.5 percent in June -- the highest level in more than a decade. That translates into more than 850,000 people out of work in the state.

"Because of our 8.7 percent unemployment rate, we will qualify for an additional seven weeks of unemployment insurance benefits," said New York State Labor Commissioner M. Patricia Smith. "So right now New Yorkers will be eligible for 79 weeks of unemployment insurance benefits."

Unemployment benefit extensions are expected to help an additional 47,000 jobless New Yorkers who would have lost their benefits in August.

79 Weeks is a long time to be without a job. Yet it's happening in mass.

President Obama claims he will save 3.5 million jobs. When? Who gets to count? The reality is no one is counting and the number is fabricated. It is impossible to count "saved jobs" so Obama can pick any number he wishes.

How did Obama arrive at 3.5 million? Simple - It was the largest number he thought he could get away with.

Meanwhile bear in mind that the continuing claims number does not include those on EUC. I posted several charts of EUC in Unemployment Claims: How Bad are the "Real" Numbers? to show what the real continuing claims number is.

Here is one of the charts.

Continuing Claims + EUC Extended Benefits from 2000-2009

Note the dips in the EUC numbers and the corresponding dips in the total numbers. Compare to double extensions in emergency benefits:

"The original extension passed in July 2008 paid up to 13 weeks of additional benefits. Effective November 23, 2008, we can pay up to 7 additional weeks of benefits. Effective December 7, 2008, we can pay up to another 13 weeks of benefits."

The above chart was from July 10th. New Weekly Unemployment Claims figures came out on July 16.

Note the huge drop in continuing claims and the 4-week moving average of continuing claims. Two factors account for the drop.

1) Extended benefits expiring
2) A huge seasonal adjustment factor beyond the ordinary related to auto manufacturing plant shutdowns skewed the seasonally adjusted numbers.

The key point now is the number of people whose benefits have expired or are about to, and those people will not show up at all in the above weekly unemployment releases.

Unemployment Insurance Exhaustion Rate

Dave Rosenberg has an interesting chart of expiring benefits in Breakfast with Dave on July 17.

The Bureau of Labor Statistics said that the move in claims has nothing to do with any improvement in the economy. I think this is all about the fact that with GM and Chrysler in bankruptcy and all the permanent shuttering of plants and workers, there are fewer of these employees left that go though the normal seasonal shutdowns. So, fewer seasonal layoffs in the auto sector, I firmly believe, are behind these recent declines in initial jobless claims. We will know if this thesis is correct in a few weeks. (Also keep in mind that the shutdowns happened in June this year, not July, as is normal, and hence this is giving a skew downward to the claims data. To reiterate, these numbers are telling us nothing about the economy.)

Claims dropped 47,000 to 522,000 in the July 11th week, on top of a 48,000 slide the week before — combined falloff of 95,000. At the same time, the non-seasonally adjusted data soared 108,000 over the past two weeks. Go back to the same two weeks in 2008 and you will see that a similar decline in unadjusted claims (-115,000) translated into an 18,000 drop in the seasonally adjusted data.

So something with the seasonal factors is at play here; not the economy. Note that in the month after the seasonal auto effects ran their course last year, claims popped up more than 80,000.

To be sure, continuing claims plunged a record 642,000 to a still-high 6.273 million but this actually reflected bad news in the sense that it likely reflects the end of the up-to-20 weeks extended benefits that President Obama provided under the stimulus plan. These people are certainly not going to be doing very much spending over the next little while.

Also note that the claims data would be much higher if a record number of unemployed folks weren’t seeing their benefits cut off — see the chart below for an illustration of what we are talking about.

Take a good look at that chart. It's 50,000 now. It is expected to be 500,000 by September and 1.5 million by the end of the year. What are the odds Obama creates 1.5 million jobs by the end of the year? I suggest the answer is zero.

By Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Click Here To Scroll Thru My Recent Post List

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management . Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

Visit Sitka Pacific's Account Management Page to learn more about wealth management and capital preservation strategies of Sitka Pacific.

I do weekly podcasts every Thursday on HoweStreet and a brief 7 minute segment on Saturday on CKNW AM 980 in Vancouver.

When not writing about stocks or the economy I spends a great deal of time on photography and in the garden. I have over 80 magazine and book cover credits. Some of my Wisconsin and gardening images can be seen at MichaelShedlock.com .

Congressman Stearns: Mr Paulson How Do You Have Any Credibility?

YOU TUBE~ Under Zionist Control

Oh My, what’s Up with You Tube? Got a You Tube account? Are you Pro-Palestinian and Anti-Zionist? Well you may be on the “Hit List” because You Tube is allowing the ADL to create its policy for removal of videos it “perceives” as spreading hate, one type of hate. The translation= Only Videos that are anti-Israel. And, we all know what that means don’t we folks. No criticism of the Evil Rogue State, no videos showing their massive destruction, or the innocent victims they murder, or the white phosphorous they used illegally, no self expression against the Zionist Rogue State. Nope, only happy Hasbara, coming soon, to a you tube channel near you. Check this out:

Let’s play a little game. Let’s pretend you found a vile video that is very insulting to people of the Muslim faith. Let’s say you then decided to do as the Zio-Jihadists do and report this video under the terms and conditions of you tube as being hateful against a religious group. Ok, go to you tube here ,then scroll down to the bottom and click on where it says, “Safety Center” here, then select the radio button that says “hateful content” and click “enter” SURPRISE, it’s the ADL telling you how to remove videos and content that is “anti-Semitic” This begs the question, why is ONLY a “Zionist Jewish” group represented, why are the NAACP not included, what about African Americans? They constitute a far greater number of Americans than the 2% of Jews who make up the population. Yet, there is no group affiliated with You Tube for them to report racist content, no group representing the Muslims either. As if You Tube gives a shit about hateful content against Muslims for example like this lovely account here note the name. Here’s the answer:

The Anti-Defamation League announced Sunday its recent expansion into the world of YouTube

The US-based advocacy group has officially partnered with the digital media powerhouse in an effort to combat hate speech and other forms of abuse.

As the largest Web-video hub, YouTube relies primarily on its users to hunt down and delete inappropriate content, or to ban abusive members. While the extent of the ADL's role in that process is not yet known, the organization has already made a place for itself in YouTube's new "Abuse and Safety Center," where users are given advice directly from the ADL on how to confront hate speech.

KISS FREE SPEECH GOODBYE FOLKS, but there's more. check out some of what they are complaining about for a real shock:

The present system has had mixed results. In just a short search through the site, The Jerusalem Post found a number of anti-Semitic videos, including the suggestion that kashrut laws were a "Jew excise tax," and claims that a Jewish conspiracy led by former US deputy secretary of state Paul Wolfowitz orchestrated the invasion of Iraq.

Imagine someone having the Chutzpah to say something "not nice" about Paul Wulfowitz!! GASP!! Oh the shame and horror of it all! They now effectively control You Tube and they STILL effing complain about a political theory regarding Paul Wolfowitz, the poster child for War. They won’t be happy until every single video critical of the Zionist Rogue State or Zionist Jews are removed. Seriously America, get control of your country, extricate your country and government from this foreign power’s control. They are ruining you.

FDIC Closes Four More Banks

The Federal Deposit Insurance Corporation (FDIC) took over four more banks at the end of last week, bringing the total of 2009 bank failures to 57. Two of the closings were in California and one in Georgia--two states hard hit by real estate losses.

Regulators closed Temecula Vally Bank, of Temecula, California and Vineyard Bank, National Association, Rancho Cucamonga, California. First-Citizens Bank and Trust Company, Raleigh, North Carolina, agreed to purchase the deposits of Temecula Valley Bank, which had assets of $1.5 billion and total deposits of approximately $1.3 billion. In addition to assuming all of the deposits of the failed bank, First-Citizens Bank and Trust Company agreed to purchase essentially all of the assets.

California Bank & Trust, San Diego, California, will assume all of the deposits of Vineyard Bank, N.A., excluding those from brokers. As of March 31, 2009, Vineyard Bank, N.A. had total assets of $1.9 billion and total deposits of approximately $1.6 billion. In addition to assuming all of the deposits of the failed bank, California Bank & Trust agreed to purchase approximately $1.8 billion of assets. The FDIC will retain the remaining assets for later disposition.

California Bank & Trust will purchase all deposits, except about $134 million in brokered deposits, held by Vineyard Bank, N.A. The FDIC will pay the brokers directly for the amount of their funds. Customers who placed money with brokers should contact them directly for more information about the status of their deposits.

FDIC took control of First Piedmont Bank, Winder, Georgia, and entered into a purchase and assumption agreement with First American Bank and Trust Company, Athens, Georgia, to assume all of the deposits. As of July 6, 2009, First Piedmont Bank had total assets of $115 million and total deposits of approximately $109 million. First American Bank and Trust Company paid a deposit premium of 1.01 percent. In addition to assuming all of the deposits of the failed bank, First American Bank and Trust Company agreed to purchase approximately $111 million of assets. The FDIC will retain the remaining assets for later disposition.

BankFirst, Sioux Falls, South Dakota, was closed by the South Dakota Division of Banking, which appointed the FDIC as receiver. FDIC entered into a purchase and assumption agreement with Alerus Financial, National Association, Grand Forks, North Dakota, to assume all of the deposits of BankFirst.

As of April 30, 2009, BankFirst had total assets of $275 million and total deposits of approximately $254 million. In addition to assuming all of the deposits of the failed bank, Alerus Financial, N.A. will acquire $72 million in assets, comprised of cash, securities and loans secured by deposits. The FDIC entered into a separate agreement with Beal Bank Nevada, Las Vegas, Nevada, to acquire $177 million of the failed bank's loans. The FDIC will retain the remaining assets for later disposition.

The total cost to the taxpayer of closing the four banks is just over $1 billion, according to FDIC. With the latest bank failures, 10 Georgia banks have closed so far this year, the most of any state. California is next with eight bank failures.

Despite the large number of bank failures, the number is not on pace to eclipse 1992, when 181 banks were closed by FDIC.

By Mark Huffman