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Automakers See China Driving 2011 Sales
by: Money Morning December 23, 2010
The world's largest carmakers, including Toyota Motor Corp. (TM), General Motors Co. (GM) and Volkswagen AG (VLKAY.PK), expect China's red-hot economy to keep auto sales rolling at a record pace in 2011, making it the third year in a row the Red Dragon will top the U.S. in car sales. China's vehicle sales jumped 46% in 2009, dethroning the United States as the world's largest auto market and ending more than a century of American dominance that started with the Model T Ford. The nation's sales of passenger cars, buses and trucks rose to 13.6 million in 2009, the fastest pace in at least 10 years, according to the China Association of Automobile Manufacturers. At the same time, U.S. sales tumbled 21% to 10.4 million, the lowest level since 1982, according to Autodata Corp. China's vehicle sales have surged since 1999 as its gross domestic product (GDP) growth averaged more than 9% a year, helping U.S. automakers make up for slumping demand in the West. China's vehicle sales surged 30.45% in the first half of the year to 7.18 million units, compared with 5.6 million for the United States.
"China is becoming the center stage of development for the 21st century global auto industry," Bill Russo, a Beijing- based senior adviser at Booz & Co., told Bloomberg. "Economic growth has directly translated into growth in automobile sales."Fatih Birol, chief economist for the International Energy Agency (IEA) says that today 700 out of every 1,000 people in the United States and 500 out of every 1,000 in Europe own cars. But in China, [....]
http://seekingalpha.com/article/243424-automakers-see-china-driving-2011-sales
Census Shows Where Taxes Are Lower, Growth Is Greater
December 24, 2010
by Bob Livingston
The U.S. Census is beginning to release some figures from the 2010 count and there are some tidbits of interest there. One is the fact that seven of the nine states that do not have a state income tax grew faster than the national average, as noted by Michael Barone in washingtonexaminer.com. The other two, South Dakota and New Hampshire, had the fastest growth in their regions. High tax, big government socialist types like to spout the nonsense that the tax structure does not influence business or residency decisions. But 35 percent of the nation’s total population growth — from 281,421,906 in 2000 to 308,745,538 in 2010 — occurred in those nine states. And Texas — the state with the greatest growth — has a diversified economy, is business-friendly and has low taxes. President Barack Obama and members of Congress bemoan [....]
http://www.personalliberty.com/conservative-politics/census-shows-where-taxes-are-lower-growth-is-greater/?eiid=&rmid=2010_12_24_PLA_[EED4038]&rrid=387432349
Government liabilities rose $2 trillion in FY 2010: Treasury
Tue, Dec 21 2010
By David Lawder
WASHINGTON
The U.S. government fell deeper into the red in fiscal 2010 with net liabilities swelling more than $2 trillion as commitments on government debt and federal benefits rose, a U.S. Treasury report showed on Tuesday. The Financial Report of the United States, which applies corporate-style accrual accounting methods to Washington, showed the government's liabilities exceeded assets by $13.473 trillion. That compared with a $11.456 trillion gap a year earlier. Unlike the normal measurement of government intake of receipts against cash outlays, accrual accounting measures costs such as interest on the debt and federal benefits payable when they are incurred, not when funds are actually disbursed. The report was instituted under former Treasury Secretary Paul O'Neill, the first Treasury secretary in the George W. Bush administration, to illustrate the mounting liabilities of government entitlement programs like Medicare, Medicaid and Social Security. The government's net operating cost, or deficit, in the report grew to $2.080 trillion for the year ended September 30 from $1.253 trillion the prior year as spending and liabilities increased for social programs. Actual and anticipated revenues were roughly unchanged.
The cash budget deficit narrowed in fiscal 2010 to $1.294 trillion from $1.417 trillion in 2009. But the $858 billion tax cut extension package [....]
http://www.reuters.com/article/idUSTRE6BK6WC20101221?utm_source=Newsletter&utm_medium=Email&utm_campaign=Heritage%2BHotsheet
Income Taxes Are Not For Income To The Federal GovernmentDecember 20, 2010
by Bob Livingston
Before we get entangled in the doublespeak of the Internal Revenue Service Code and rulings, we need to consider that the whole Orwellian nightmare is a sham imposed by the police power of the State on a gullible people. Actually the income tax has a dual purpose, and neither is to pay taxes to the government. Its first purpose is to control and redistribute the volume of money. James A. Garfield, the 20th President of the United States said, “Whoever controls the volume of money in any country is absolute master of all industry and commerce.” The second reason the income tax system exists is to keep a dossier on all citizens. The 1040 tax return is your personal profile. So-called income taxes, as defined and used by the Socialist State, lead the people into a swamp of confusion as it is designed to do. Socialism attracts corruption and corruption attracts Socialism. Income tax systems go hand-in-hand with fiat paper money systems. The money creators cannot create wealth but they can transfer wealth with depreciating (inflating) paper money. Governments make war on their own citizens by [....]http://www.personalliberty.com/conservative-politics/government/income-taxes-are-not-for-income-to-the-federal-government/?eiid=&rmid=2010_12_20_PLA_[PIZ5210A]&rrid=387432349
George Soros and SOS Project hit hard on Election Day
November 4, 2010
By Joseph Kastner
While much of both the media’s and public’s attention in regards to the shift in the balance of political power has been primarily focused on the national level, there were significant changes that took place on the state level as well that could have tremendous repercussions for years to come. In addition to witnessing the development of Republican majorities in both the governorships as well as the state assemblies of individual state governments, Democrats have seen a slim lead in their control of the Secretary of State offices evaporate over night. Hardest hit by the Republican tidal wave in this respect were the secretaries of state who served as chief election official (CEO) of each of their respective states and, more specifically, those officers connected with the George Soros-funded Secretary of State Project.
George Soros, who has donated nearly $10,000 to the Secretary of State Project, declared that the Democracy Alliance had approved the 527 political organization as a grantee at the 2008 Democratic National Convention.
The Secretary of State Project (SOS Project), is an independent 527 political organization founded in July 2006 under the premise of advancing “election protection” measures.The Secretary of State Project can trace its origin directly to the culmination of frustration, anger, bitterness, and overall resentment Democrats felt towards Republicans in the wake of President George W. Bush’s re-election in 2004. Still plagued with memories of Katherine Harris and Florida from the 2000 presidential contest, Democrats placed the blame for Senator John Kerry’s loss squarely on the head of Ohio Secretary of State Kenneth Blackwell, who ruled that provisional ballots in the state would not be counted if they were submitted in the wrong precinct, a decision upheld by the United States Court of Appeals. Bush’s victory in the state – a relatively slim 118,000+ votes – gave him the necessary electoral votes (twenty) to cross the victory threshold of two hundred and seventy. Democratic founders and financiers of the SOS Project, in particular George Soros, saw conspiracy in Blackwell’s decision, insisting that those individuals who were elected on the principle of upholding and enforcing election laws were, in fact, political operatives. But rather then push for reform [....]
http://ballotnews.org/2010/11/04/george-soros-and-sos-project-hit-hard-on-election-day/
Don't Buy the Hype, or GM
Once again public, the streamlined auto giant still faces roadblocks.
By Lawrence Carrel, Contributing Editor
From Kiplinger's Personal Finance magazine, February 2011
Now that all the hoopla surrounding the initial public offering of the new General Motors (symbol GM) has receded, we can address the investing merits of this icon of American industry in a calm environment. Our verdict: Wait for the price to come down. We say that even though the stock, at $35 in early December, hasn't had a huge pop since going public at $33 on November 18. And we're aware that some investors are bullish on auto stocks because they think the industry is at the bottom of the cycle. Sales in the U.S. hit a 27-year low of 10.4 million vehicles in 2009. Forecasters expected sales of 11.5 million vehicles in 2010 -- still a far cry from average annual sales of nearly 17 million from 1999 through 2006. From such depressed levels, sales have nowhere to go but up, the bulls say. But even after GM reduced its head count by tens of thousands of workers and shed billions of dollars in liabilities as part of the U.S. government's bailout, the company still has worrisome issues. First, GM is run by an untested team [....]
http://www.kiplinger.com/magazine/archives/dont-buy-the-hype-or-gm.html?topic_id=50
How Liberals Plan To Destroy The Senate With 51 Votes
Posted by Brian Darling
Tuesday, December 28th at 4:00PM EST
Progressives, liberals and left of center politicians have teamed up to radically curtail the rights of Republican Senators in the next Congress. They have a plan to “kill the filibuster,” so that they can establish a top down system of control next year in the Senate. This plan to kill the filibuster will stifle dissent and relegate Republican Senators to observer status in the newly reformed Senate. If you thought that Speaker of the House Nancy Pelosi (D-CA) ran a tight ship during her tenure, get ready for a Senate Majority Leader Harry Reid (D-NV) willing to obstruct all Republican opportunities to offer amendments and extend debate.
The left is promoting a myth that the filibuster can be changed with merely 51 votes. Progressive Katrina vanden Heuvel wrote over at the Washington Post demanding that liberal Senators rid the Senate of Rule 22 by a simple majority vote in the new Congress. This is nothing more than a naked power grab by the left so they can confirm far left wing nominees to the Courts and to establish complete control over the agenda of the United States Senate.
The Senate’s rules are constitutional. According to Article I, Section 5 of the Constitution, “each house may determine the rule of its proceedings.” Senate Rule 22 sets up a procedure for debate to be curtailed with a three-fifths vote (60) of Senators. This rule has been in place since 1917 when the Senate [....]
http://www.redstate.com/brian_d/2010/12/28/how-liberals-plan-to-destroy-the-senate-with-51-votes/
Til Next Sunday....
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