(Reuters) - Morgan Stanley slashed its global growth forecast for 2011 and 2012, saying the U.S. and the euro zone were "dangerously close to a recession", and criticized policymakers in Washington and Europe for not acting more decisively to contain the sovereign debt crisis.
The bank cut its global gross domestic product growth forecast to 3.9 percent from 4.2 percent for 2011, and to 3.8 percent from 4.5 percent for 2012.
"Our revised forecasts show the US and the euro area hovering dangerously close to a recession — defined as two consecutive quarters of contraction — over the next 6-12 months," Joachim Fels, who co-heads Morgan Stanley's global economics team, said in a research note dated Wednesday.
As gold hit new record highs of $1,832 an oz. Wall Street is rolling down hill fast. Unemployment is still crazy high after all these years. This is very bad news for the American people. Thanks to the Democratic party and Obama 1 in 5 children live in poverty here in America. The Democratic Party promised that this wouldn't happen if they pasted all their economic stimulus bills. But all those bills did was raise our national debt to unsustainable levels. We have yet to get out of the recession that Obama said he would get us out of. I have to say it, we conservatives told you nothing Obama did would work. We told you this would happen and it is. If you vote for more of this then you are just an anarchist.
Aren't you glade you prepared for this next round of recessions? If you are a liberal you didn't do anything. That is your MO.
A group of striking janitorial workers blocking the Westfield Mall entrance taunt and scrap with security guards trying to open up the entrance. (h/t MoonBat Tracker and RebelPundit )
“The voice of a representative encourages members to deal harshly with ‘managers and scabs.’
‘It is open season. Follow them safely, but when you get to a location, torture them, torture them with chants and noise. Be so loud that they can’t concentrate and wish they never got out of bed,’ says the recorded voice. Another part of the message states:
‘They are trying to break our union. Understand brothers and sisters, we can never let these [expletive] piece of [expletive] pigs break us. So, we are stepping up our efforts.’
The message stopped short of calling for physical violence, but it was removed after a NewsChannel 9 reporter called the CWA for comment. “
We’ve all heard the stories of shakedowns and bullying that occurs to many non-unionized workers and private business owners. However, the thuggery might have gone beyond the pale recently when one Ohio business owner was repeatedly harassed, then shot and almost killed, for allegedly being non-union.
John King owns one of Toledo’s largest non-union electrical contracting businesses. With 25 employees and an A+ rating from the Better Business Bureau, King’s business reportedly often thrives while other unionized electrical contracting businesses fail due to their higher rates.
However, King’s success may be making him a prime target for union thugs, including threats and violence.
King says he holds no animus towards the union, stating that he only ever wanted to do what he loved to do. Labor Union Report writes that after some college, King did a stint with the International Brotherhood of Electrical Workers before being drafted into the military. Following his service, King went solo and became the youngest independent electrical contractor in the Toledo area.
But King’s success, especially during the recession, may have come with a price, including lawsuits, harassment, slashed tires and multiple incidents of vandalism, just to name a few. LUR reports:
Unfortunately, being a non-union electrical company, King has always been on the radar of the International Brotherhood of Electrical Workers (IBEW). In fact, in 2006, he won a significant case against the IBEW at the US Court of Appeals, after the union had improperly promised his electricians jobs on union sites if they voted the union into King’s company.
Since he’s been in business, in addition to the legal battles and verbal abuse, King’s company has been vandalized and threatened on numerous occasions.
“Back then, it was nothing to have to regularly buy a new set of tires,” King said during a telephone interview on Tuesday. “The ice pick was the weapon of choice.”
Until Wednesday, the worst of the union attacks on King and his business came in the mid-eighties during the UAW strike at AP Parts. During a lull in the lengthy strike, King’s business was picketed by more than 50 IBEW picketers. This was at a time when he only had eight or nine employees. One of his employees, whose car was trashed by the union picketers, was also reportedly assaulted by IBEW thugs.
Unfortunately, the vandalism has never stopped. This year alone, he’s had to report three incidents of damage . This doesn’t include the incidents of stalking he and his men have to go through while they’re working.
In one incident earlier this year, rocks were thrown through the front windows of his shop, one of which had the word “kill” written on it.
But last Wednesday the attacks grew more heinous when King discovered an individual on his property attempting to vandalize his SUV. When King yelled at the man to stop, the vandal shot King, hitting him in the arm.
According to LUR, police recovered a shell casing from the scene the night of the shooting in addition to a Swiss Army knife. The knife was presumably going to be used to slash King’s tires yet again.
LUR reports that neither the police nor King are certain which union was behind the attack, but given that the word “SCAB” was scrawled on King’s vehicle, there is a good indication the incident was union-related.
King, who is offering a $10,000 reward for information that will lead to the arrest and conviction of the suspect, praised police for their thoroughness in the investigation.
We should perhaps also point out that King’s shooting comes on the heels of a controversial declaration made by the union that represents Verizon workers, when it declared “open season” on “managers and scabs.” The Blaze reported:
“The voice of a representative encourages members to deal harshly with ‘managers and scabs.’
‘It is open season. Follow them safely, but when you get to a location, torture them, torture them with chants and noise. Be so loud that they can’t concentrate and wish they never got out of bed,’ says the recorded voice. Another part of the message states:
WTOL brings us the report and interview with King:
Obama and the Democratic Party passed a huge Stimulus Bill and many jobs bills in their first two years. Obama and the Democratic Party got everything they wanted. Most blacks voted for Obama and approved of what Obama was doing with a record 98% approval rating. They thought that Obama would raise up their condition, no matter what their condition was in society. Most blacks thought that having a half black president would mean more for them in the future. They thought Obama would take care of them like he has taken care of the unions. Heck, I thought he would take care of them too. But I was wrong.
All we have to look at is the Cause(the Bills passed) and the Effect(the outcome) of what has happened to the black community since Obama and the Democratic Party took over and passed every bill they wanted. They have lost decades of economic gains in just a few short years of Obama and Democratic Party policies. The Democratic Party and Obama handed out billions of our money too who they chose. The blacks look around and see all that money going into our debt and they are in worse shape as a community then they were before the Democrats started handing out money to their 'friends'.
To make things even worse, Obama isn't even going to any black communities on his bus tour. He is spending all his time with the whites. That speaks volumes to the black community. Blacks are starting to come out of the ether and realize what condition Obama and the Democratic Party put them in. Obama has lost 15% approval among blacks. After this bus tour I'm sure it will wake up many blacks to what the President and Democratic Party think of them. I'm sure Obama will make it up to them as an after thought in the campaign. But Obama said this isn't a campaign tour. It is an economic tour or jobs tour. Why is Obama only going to white areas to talk about jobs? Is it because he thinks that the jobs of the future will be held by whites? Does Obama not think the black community have much of a chance for creating jobs in their community? When you look at the liberal educational system in black communities it doesn't give them much hope for a bright future. I just can't figure our what is going through Obama's head. The black community is suffering much worse then any other race. That is a fact. Why is that a fact? Liberals would have us believe that their race is the reason. But that is just racism with a smile.
I think that the black communities have given into the Democratic Parties promise of getting something for their votes. For decades now the Democratic Party have been trying to buy the minority and poor votes with promises of free stuff "Obama money". They don't promise jobs, they promise benefits for voting Democratic Party. Look at cities like Detroit that have been run down from the richest city in the world to a play I wouldn't let my dog rome. Detroit have voted for Democrats for over 50 years. The liberal culture destroyed Detroit, not blacks. It's time blacks bail from the Party and President that bailed on them. If blacks keep voting in these liberal idiots they will keep getting more of the same. I'd like to know what you think of the way blacks have fared over this presidency?
Watch West’s comments, below (his Harriet Tubman statement is at 2:35):
