December 15th, 2008

chakwin

ICE-land is all but officially bankrupt

                                                                          
ICE (Immigration & Customs Enforcement) is bankrupt of competent management.  Hardly, a day goes by that I don't hear about the self serving antics of John Chakwin Jr., ICE SAC/Dallas. Many agents have contacted this reporter about the ICE Christmas Party in Dallas. Chakwin told his supervisors that they were being held responsible for making sure that EVERY agent in Dallas attended the voluntary party. Chakwin requested the name of  every agent that was not in attendance, according to one high level source.  Dallas agents are also complaining that Chakwin recently received a 80% negative job approval rating in an official survey of the agents  under him, yet he was promoted from GS/15 to SES SAC.  Chakwin has reportedly selected a 33 year old group supervisor with little experience and no college degree to be the ASAC San Angelo. Apparently there were many better qualified and experienced applicants and the promotion is being held up by HQ.  Agents are cautiously optimistic that the new Administration is going to clean house as rumors continue that ICE is the weakest link in the very weak Department of Homeland Stupidity.  Reports are that the Obama transition team is aware of the problems at ICE and that the new Secretary will make reorganization of the sprawling out of control DHS her first priority.

                                                              

Miguel Contreras frequently writes about ICE management misconduct  for the Narcosphere & the Narco News online newspaper. Dr. Contreras expects changes at ICE after President Elect Obama  takes office next month.  Read his latest report (12/14/08)   tinyurl.com/6c865q

Dr. Miguel A. Contreras, is a retired 30-year law enforcement officer who spent 26 years as a criminal investigator with the U.S. government, and 4 years as a local police officer with the Lansing Police Department, Lansing, Michigan.  Dr. Contreras holds the following degrees: PhD, ThD, MTh, B.A., A.B, and an A.A.S.  He is also a Certified Protection Professional (CPP), and a Certified Fraud Examiner (CFE).  



Recession May Last a DECADE

The Fed has nothing to fear now about consumer price inflation.  On Tuesday, the Labor Department will report on the November consumer price index. With gasoline prices falling another 30% or so, economists surveyed by MarketWatch expect the CPI to fall 1.4% after a 1% drop in October.
 
A decline of 1.4% would be the lowest since 1938, and if it falls even a tenth more than expected, it would be the lowest since February 1933, when Hoover was packing his bags to leave the White House. If prices do drop 1.4% in November, the increases in consumer prices over the past year would dip to 1.3%. By next summer, according to CIBC economist Meny Grauman, year-over-year inflation will turn negative for the first time since the mid-1950s.
 
Falling prices is surely good news for consumers. But the cause of the disinflation is the global economic slump, which is certainly not good news for anyone tied to the globalized economy.

You know the economy is in trouble when you have to go back to Herbert Hoover's administration for an historical comparison, or when the Federal Reserve cuts interest rates to 50-year lows, or when you run out of adjectives to describe how awful home building is.



Jobless claims will be closely watched on Thursday after they hit a 26-year high last week. The data cover the survey week for the monthly employment report, so the initial and continuing claims data could provide an early clue about December payrolls.Home building has fallen to the lowest levels at least since 1959, but that doesn't mean it can't fall some more. Our survey says housing starts should drop about 7% in November to a seasonally adjusted annual rate of 738,000. That's beyond bad. "The housing construction freefall continues unabated," said Citigroup economists. "In fact, housing market indicators actually appear to have started another, steeper down leg in recent months." Industrial production likely fell 0.6% in November after a 1.3% gain in October that was largely due to a rebound from the hurricane damage of September.

Manufacturing payrolls dropped by 85,000 in November, and hours worked plunged 1.4%, so it's likely that output also dropped sharply. Forward-looking indicators on the factory sectors in the New York and Philadelphia regions are likely to sink further, economists said. 
 
"The outlook for the U.S. industrial sector is bleak," wrote CIBC's Grauman. "A global economic recession means that demand is not only sluggish at home, but also abroad." And let's not forget that the auto industry is hanging by a thread.

Economist Kenneth Rogoff considers the United States to be in the worst financial crisis since World War II – and believes that the economic policy in his native country could become more European during the next ten years. According to Rogoff the USA might soon place less value on growth and confront citizens with higher taxes.  The 55-year-old is a professor of economics at Harvard University near Boston. He was Chief Economist of the International Monetary Fund (IMF) from 2001 until 2003.

Kenneth Rogoff:  "There is no question that what we are seeing today is a reversal of the dynamic that we have been seeing the last ten or fifteen years. So there is a sense in which the slowdown is a payback for the debt-fuelled growth of the earlier era.  First and foremost housing prices are still sinking. They probably have at least an additional ten or fifteen percent to fall. That's going to lead to more financial sector problems, to unemployment problems and more headwinds to consumption.  The fiscal and monetary authorities have basically tried to fight these bubbles by propping them up. The tax rebates is an attempt to keep consumption up. All the bail outs of the mortgage companies Fannie and Freddie and even investment bank Bear Stearns is all linked to trying to keep the housing market up. But eventually consumption has to come down, housing prices have to come down. The Federal Reserve and Treasury policy has made this a slow-motion train wreck. But it's not going to stop the crash ultimately. The economy has to pay the price. There is a risk of a lost decade if the policy response goes in the wrong direction.  We may see a decade where the US recalibrates its system towards one that is slower growing but somewhat more equitable. That seems to be the political winds are taking us."  (Bonzer calls this SOCIALISM, tax the rich to pay the poor, redistribution of wealth)




 
dallas skyline

Winter Weather Advisory

Texas, Dallas/Fort Worth


Winter Weather Advisory

Statement as of 4:05 PM CST on December 15, 2008

Expires 12:00 PM EST on December 16, 2008


... Winter Weather Advisory remains in effect until 11 am CST
Tuesday...

As the Arctic airmass deepens and temperatures continue falling
tonight... patchy... light freezing rain will occur... occasionally
mixing with or changing to light sleet. Accumulations of ice and
sleet are expected to be less than one tenth of an inch.

A Winter Weather Advisory means that periods of winter
precipitation may cause travel difficulties. Precipitation will
accumulate first on elevated surfaces such as bridges and
overpasses. These will become slick and hazardous. Be prepared to
slow down and use extra caution... as travel delays may occur.



 

Secret Service

Secret Service too busy to protect Bush from thrown shoes

The new First Family has been issued code names by the Secret Service. Barack Obama's is "Renegade," Michelle Obama's is "Renaissance," Malia Obama's is "Radiance," and Sasha Obama's is "Rosebud." Joe and Jill Biden also received code names, though it's tough to top "Renegade" and "Renaissance." Joe Biden's is "Celtic," and Jill Biden's is "Capri."

                                                              

                                                     "White Folks"