Most Of Obama’s Job Gains Come With The Question, “Do You Want Fries With That?”

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obama shush

 

The Obamabots will tell you the economy is “improving,” because their Dear Leader has created millions of new jobs.

What they won’t tell you is what kind of jobs he’s managed to create.

Lots and lots of low-pay, low-skill, dead-end jobs.

As in, “do you want fries with that?”

In a post-recession world where many once-familiar occupations continue to automate, move offshore or disappear outright, one of the most basic questions remains:

Who’s hiring?

It turns out the vast preponderance of job openings these days consists of low-skill, hourly wage work with high turnover.

The current slate of “help wanted” ads overwhelmingly involves cashiers, waitresses and waiters, personal care aides, janitors, those who stock store shelves, and the likes of Hardee’s and Taco Bell.

Of the top 10 “Occupations with the Most Openings,” nine fall into government-designated wage categories of “very low” and “low,” according to data from the U.S. Department of Labor.

The proliferation of bottom-rung openings casts a light on an epidemic transformation within the national economy, one that has been accompanied by a long-term contraction of middle-skill occupations that often pay family-supporting wages.

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“Workers in many types of middle-rank positions — such as skilled production-line workers and people in clerical or administrative jobs — have had to migrate into jobs as food-service workers, home health-care aides, child-care employees and security guards,” according to a study by David Autor, economics professor at the Massachusetts Institute of Technology.

For Obama so loved the poor, he made millions more of them.

“This is not an overall improvement in job quality,” Autor said. “The problem with many of these jobs is they require fairly generic skill sets, which means workers have limited negotiating power and are fairly interchangeable. These are not, in general, attractive jobs.”

What’s remarkable is how deeply the low-wage sector — once seen as temporary and transitional — has entrenched itself in the world of work.

According to the Labor Department, the No. 1 employment opportunity in the U.S. is for retail salespeople.

Typical retail work requires “less than high school” education.

Retail jobs do not always pay well, but there are plenty of them: Nearly 200,000 open up on average each year in the U.S.

And who’s competing for those retail jobs? Obama’s DREAMers, illegal aliens, here to ensure you’ll never work again.

No wonder then that so many Americans have simply given up on looking for real work. Why bother? There aren’t any more good jobs out there.

The only other growth sector? Government. Hey, Big Brother is always hiring. And always getting in the way.

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The Grandpappy Of ObamaCare Circles The Drain: UK’s NHS In Trouble

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nhs and obamacare circling the drain

 

Hat/Tip to Doug Ross @ Journal.

You mean the only problem with socialism is that you REALLY DO run out of other people’s money to spend??

African AIDS Tourists Overwhelming England’s NHS

Writing at The Commentator, Vincent Cooper shines a spotlight on the fiscal tsunami engulfing the United Kingdom.

…the NHS is so short of resources that patients in some areas had to be treated in a hospital car park. But if that is true, was not Nigel Farage right to condemn the health service for putting the treatment of foreigners above the needs of those who have paid for that health service and now find themselves being treated in a car park?

Mr Miliband’s solution to hospital car park treatment in the NHS is to promise £2?5 billion in extra funding. But such a promise shows the Labour Party to be in total denial about the nature of the economic problems facing the NHS.

Consider this fact. Public Health England estimates that of the almost 108,000 people who are HIV positive, almost 60,000 are from Africa. The cost to the NHS of anti-retroviral drug treatment for these African health tourists is well over £1 billion annually and rising, as more and more Africans and others hear about what’s on offer from the tax payer.

And it’s not only HIV tourists. There is the same costly problem with Hepatitis B, another big crowd-puller from all over the world to the NHS, and a disease which can be even more costly than HIV to treat.

But the costs of health tourism to the tax payer are not confined to medical treatment alone. Many of those HIV tourists would be in receipt of housing and other welfare allowances, quite possibly for the rest of their lives.

…The British Labour Party, once a genuine British workers’ party, has now morphed into a fanatically pro-immigration welfarist party that uses the NHS for its own political ends. It turns all debate on the NHS into a party political competition about who will pour the most money into a voracious NHS bottomless pit.

Unless we eradicate the scourge of Obamacare, that’s the future of health care here in the U.S.

Please consider: “The Marxist-Democrat Left is using illegal immigration to destroy America“.

Hat tip: BadBlue Real-Time News.

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King Obama Has Been Given The Power To Unilaterally Raise Taxes By…King Obama

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Hat/Tip to Warren Todd Huston at Doug Ross @ Journal.

King Obama & his two court jesters
King Obama & his two court jesters

Is there no limit to his power? Can no one stop him?

President Obama really does think he is a king or an emperor of some type. Now he claims that he is going to use executive orders to raise taxes on us all.

This arrogant prince thinks he can do anything he wants just by his say-so. No act of Congress needed.

White House Press Secretary Josh Earnest confirmed Monday that President Obama is “very interested” in the idea of raising taxes through unilateral executive action.

“The president certainly has not indicated any reticence in using his executive authority to try and advance an agenda that benefits middle class Americans,” Earnest said in response to a question about Sen. Bernie Sanders (I-VT) calling on Obama to raise more than $100 billion in taxes through IRS executive action.

“Now I don’t want to leave you with the impression that there is some imminent announcement, there is not, at least that I know of,” Earnest continued. “But the president has asked his team to examine the array of executive authorities that are available to him to try to make progress on his goals. So I am not in a position to talk in any detail at this point, but the president is very interested in this avenue generally,” Earnest finished.

The unlawfulness and arrogance of this man is incredible.

Who needs the Constitution, eh?

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One Chart Disproves Obama’s Claims That He Is A “Deficit Cutter” – Who Made The Chart? Obama’s Federal Reserve…

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FRED Chart 001

Hat/Tip to Doug Ross @ Journal.

Just a few short days ago, President Obama uttered these words in his 2015 State of the Union speech:

At every step, we were told our goals were misguided or too ambitious; that we would crush jobs and explode deficits. Instead, we’ve seen the fastest economic growth in over a decade, our deficits cut by two-thirds, a stock market that has doubled, and health care inflation at its lowest rate in fifty years.

Now I won’t spend time debunking the four lies he told in that short excerpt, instead let’s look at just his claim that he’s a “deficit cutter” in this great article from over at Doug Ross’ place:

ONE CHART IS ALL IT TAKES: The Ludicrous Claims of Obama as a “Deficit-Cutter”

Oh, and did I mention the chart itself comes from the Obama Federal Reserve?

Put simply, any claims linking President Obama to fiscal responsibility are somewhat akin to using Michael Moore as a spokesperson for Jenny Craig.

By the time this walking economic catastrophe has left office, the total federal debt will have doubled. All of the debts rung up in all of American history will have doubled in eight short years.

Every governmental oversight office — from the CBO to the GAO — is warning that the debt is “unsustainable”. Interest payments on the debt will double in just the next five years, from $266.7 billion currently to $578.3 billion in 2020. And the Obama administration’s forecast shows interest payments rising to $785 billion per year by 2025.

And let’s not forget Obama’s failure to even talk about the looming entitlement crisis.

The system is headed for collapse. And Obama has only added fuel to the fire.

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When Democrat Hero FDR Confiscated American Citizens’ Gold — At The Point Of A Gun

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FDR-Press-release-image

Hat/Tip to Nick Sorrentino at Doug Ross @ Journal.

He was instrumental in the Allied victories in WWII, but his economic policies were disastrous. A little tidbit that is all but forgotten is the fact that Roosevelt forced all Americans to turn in their gold, or else.

FDR, the man who studied Mussolini, who birthed the current intrusive state, who started the drug war in earnest, who put Japanese Americans into concentration camps, who extended the Depression years longer than it needed to be and thereby contributed to the genesis of the Second World War, who tried to pack the Supreme Court, who gave away half of Europe to the Soviets at Yalta, and who confiscated the gold – the real wealth – of the American people.

What a guy. And he still has his face on the dime.

gold-stolen-cc-565x353[1]

Just imagine the uproar if Obama did such a thing. But hey, I mean he compares himself to FDR all the time, so maybe we ought to all hide our gold now, while we can…

There is a reason why my grandmother, a good New York City Irish catholic despised the man. She thought Roosevelt was a hair’s breadth short of being a dictator.

She was probably being nice.

Watch the video:


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Welcome To Obamaville: Where 1 In 5 Children Are On Food Stamps

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This past weekend I had an Obamabot angrily inform me that his Dear Leader has finally fixed George Bush’s mess, and our economy is now roaring along like never before. “Just look at the stock market!,” he sneered.The irony of him working 3 part-time jobs (with no benefits) instead of the much higher-paying full-time 9-5 job he had during the Bush Administration was lost on him.

So I guess he won’t believe his lyin’ eyes today when he reads the latest news out of the Census Bureau. Or he’ll blame Rethuglicans for sabotaging The One’s munificence again.

Sixteen million children were on food stamps as of last year, the highest number since the nation’s economy tumbled in 2008.

Numbers released by the Census Bureau Wednesday as part of its annual look at children and families show that one in five children were on food stamp assistance in 2014. The survey was taken last spring.

The number of people receiving food stamps — now called the Supplemental Nutrition Assistance Program, or SNAP — spiked through the recession and has stayed at a higher level since. In the 2007 Census survey, 9 million children received SNAP assistance.

So Obama managed to put 7 million additional children on food stamps. Yeah, that’s how I measure a successful economic recovery, how about you?

Around 46.5 million people received food stamps last year, according to the Agriculture Department, which oversees the aid, up from around 26 million in 2007.

Twenty million more Americans living on the dole. Wow, I never knew Obama was such an economic genius!

The Obamabots, soon to be Hillary’s horde, are deluded. They live in a fantasy universe, where progressive policies don’t fail because they’re wrong, they fail because they weren’t progressive enough. If they could only tax a few more rich people (but not George Soros or Tom Steyer!) then everything would magically be perfect. Rachel Maddow said so! And she’s smart!

Meanwhile, children in America go hungry. But well-fed liberals say they care, honest!, so there’s that. The thing is, the more they care, the worse off the rest of America gets. Oops.

UPDATE 29 Jan 2015 11:49:
Oh look, the CBO predicts tepid economic growth, rising deficits for the foreseeable future.

I guess it’s somehow George Bush’s fault.

Comrades! Pay no attention to the Reality behind the curtain. MSNBC is truth!

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Will The Last Person To Leave New Jersey Please Turn Off The Lights?

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The exodus from New Jersey is becoming a stampede.

People are moving out of state at twice the rate they’re coming in.

Nearly two of every three families making an interstate move involving New Jersey last year were leaving the Garden State, the highest rate in the country.

New Jersey had the greatest percentage of outbound moves of any state nationally last year with almost 65 percent departing, according to a company which bills itself as the largest transporter of household goods in the country.

The Garden State has led the nation in outward migration for the fourth time in five years.

Where are they going? To states with lower taxes, lower cost of living, and more freedom. Texas. The Carolinas. Florida. Red states primarily, because socialism sucks.

And another 1,000 folks are headed to Atlanta, because the cost-savings for Mercedes-Benz are too good to turn down.

The lure of lower taxes, a cheaper cost of living, more access to critical transportation networks, key manufacturing plants and about $50 million in incentives has sealed it — German automaker Mercedes-Benz is departing Bergen County for Atlanta. And with it, potentially close to 1,000 jobs.

In an interview with NJ Advance Media following the announcement, Mercedes-Benz CEO Stephen Cannon, a Wyckoff native, said Atlanta won out because of the high quality of life, proximity to universities like the Georgia Institute of Technology and the business climate.

They’re voting with their feet. They’re voting against the two Steves (Fulop and Sweeney) who both covet the allure of Drumthwacket, and who both promise to enact a ruinous “millionaires’ tax” immediately after succeeding Chris Christie.

Because we don’t pay enough taxes already in this state.

Alas, the takers are never satiated. And we sure do have a lot of takers; consumers of government, who always vote for Democrats and their fatuous promises of more free stuff.

Things are only going to get worse. Which is why so many makers are fleeing from New Jersey.

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“Don’t Ask, Don’t Tell” Is Still Government Policy…

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DADT BEA

“Don’t Ask, Don’t Tell” may not be policy in the military any longer when it comes to a soldier’s sexual preference; but it is definitely government policy when it comes to reporting on the state of our economy or on unemployment data. When a government agency or the President spouts a glowing feel good statistic about how well the economy is doing, they prefer you don’t ask why their numbers don’t square with your reality so they won’t have to tell you the truth. For the minority of Americans who are wanting to know the truth, they generally have to got to alternative news sources to find out that the unemployment numbers are down because more and more people are dropping out of the workforce or that the majority new jobs are either part-time or low wage jobs.

The same deception is used when reporting on the GDP. We were recently treated to glowing reports that 3rd Quarter GDP was a whopping 5%. The Wall Street cheerleaders at CNBC were absolutely giddy in their reports that the economy had finally reached escape velocity. Consumers were finally spending like they hadn’t done in six years! Really? Is that what you folks on Main Street were seeing in July, August, and September? Does that reflect your reality? Of course not! So, how did our government come up with such seemingly out-of-whack spending data for the 3rd Quarter?

It turns out you were spending more money; but over three quarters instead of one quarter. What were you buying so much of that it had such a cumulative impact on the GDP? Apparently the Bureau of Economic Analysis (BEA) didn’t want to embarrass the Obama administration with the low ObamaCare purchases in the first and second quarters of the year; so they didn’t include them the GDP number for those quarters. Instead, they dumped three quarters of your ObamaCare spending into the 3rd Quarter. What they don’t want you to ask and what they don’t want to tell you is that 2/3 of the fabulous 5% GDP number is due to your shelling out for ObamaCare since the beginning of the year. You can read all about it here. But don’t tell Wall Street. They are still celebrating.

Well, that’s what I’m thinking. What are your thoughts?

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Irrational Exuberance In Action: The 5% GDP Growth Number Is A Total Fraud

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Look! Just in time for Christmas! That Obama guy finally got our economy back on track! Now get out there and spend, spend, spend!

At least that’s what the media wants you to believe.

The U.S. economy roared into overdrive in the third quarter as consumer and business spending fueled the biggest expansion in more than a decade.

Gross domestic product grew at a 5 percent annual rate from July through September, the biggest advance since the third quarter of 2003 and up from a previously estimated 3.9 percent, revised figures from the Commerce Department showed today in Washington. The median forecast of 75 economists surveyed by Bloomberg projected a 4.3 percent increase in GDP.

Sounds amazing, right?

It’s also too good to be true. But journalists aren’t known for their economic prowess. And they’re fully invested in “proving” Obama’s success.

So here’s the dirty little secret they aren’t telling you.

The Commerce Department fudged the numbers by inserting the entire year’s worth of ObamaCare spending into 3rd quarter GDP. Presto! Instant 5% growth!

Back in June, when we were looking at the final Q1 GDP print, we discovered something very surprising: after the BEA had first reported that absent for ObamaCare, Q1 GDP would have been negative in its first Q1 GDP report, subsequent GDP prints imploded as a result of what is now believed to be the polar vortex. But the real surprise was that the ObamaCare boost was, in the final print, revised massively lower to actually reduce GDP!

In layman’s terms, they initially put ObamaCare in to make Q1 look less bad, then took it out when nobody was looking after they decided to blame their woes on the “polar vortex.”

Fast forward 6 months, and with a small uptick in actual consumer spending (probably due to those falling oil prices, for which, btw, Obama can’t claim even one iota of credit), it’s time to reinsert the ObamaCare factor to really pump up the numbers.

Here’s Tyler Durden’s handy chart showing the Q3 GDP breakdown:

As you can see, without ObamaCare the consumer spending numbers would still be abysmal.

In short, two-thirds of the “boost” to final Q3 personal consumption came from, drumroll, the same ObamaCare which initially was supposed to boost Q1 GDP until the “polar vortex” crashed the number so badly, the BEA decided to pull it completely and leave this “growth dry powder” for another quarter. That quarter was Q3.

Our economy “grew” because the government forced 9 million people to buy health insurance.

What are they going to do for an encore? Force 9 million people to buy a car from Government Motors?

Because otherwise, the stock market rally that’s going on right now is the very definition of Irrational Exuberance.

Oh well. As the saying goes, pay no attention to the man behind the curtain.

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We’re #2! We’re #2! Obamanomics Drops US Economy To 2nd Place, Behind China

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The next phase of Dear Leader’s “fundamental transformation” of America is complete. With our economy in tatters, China is now the world’s number 1 economic powerhouse.

We’re no longer No. 1. Today we’re No. 2. Yes, it’s official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is no longer the leading economic power on the planet.

The International Monetary Fund recently released the latest numbers for the world economy. And when you measure national economic output in “real” terms of goods and services, China will this year produce $17.6 trillion — compared to $17.4 trillion for the U.S.A.

As recently as 2000, we produced nearly three times as much as the Chinese.

To put the numbers slightly differently, China now accounts for 16.5% of the global economy when measured in real purchasing power terms, compared to 16.3% for the U.S.

This latest economic earthquake follows the development last year when China surpassed the U.S. for the first time in terms of global trade.

These calculations are based on a well-established and widely used economic measure known as “purchasing power parity” (or PPP), which measures the actual output as opposed to fluctuations in foreign exchange rates. So a Starbucks Venti Frappucino served in Beijing counts the same as a Venti Frappucino served in Minneapolis, regardless of what happens to be going on among foreign exchange traders.

PPP is the real way of comparing economies. It is one reported by the IMF and was, for example, the one used by McKinsey & Co. consultants back in the 1990s when they undertook a study of economic productivity on behalf of the British government.

Make no mistake. This is a geopolitical earthquake with a high reading on the Richter scale. Throughout history, political and military power have always depended on economic power. Britain was the workshop of the world before she ruled the waves. And it was Britain’s relative economic decline that preceded the collapse of her power.

And it was a similar story with previous hegemonic powers such as France and Spain.

Collapsing the power of the United States is Obama’s stated goal. He was indoctrinated in the anti-colonialist dialectic at his father’s knee, and forged in radical Marxism by Bill Ayers and Bernardine Dohrn. Here you have the inevitable result of his presidency — a measurable, and probably irreversable, decline of American power and influence.

Our children will live in a world dominated by communist China. Think about that. Think long and hard, and thank an Obama voter for making the future bleaker for everyone.

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It’s The Economy, Stupid

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It's The Economy, Stupid

There are a lot of issues Americans are concerned about. Islamic terrorism and Ebola rank at the top of the spectrum of things we worry about. Or do they? According to a new poll from Fox News, that may not be so much the case. No doubt, we are concerned about the rise of Islamic terrorism and Ebola. We want neither of them on our shores, yet here they are. Most Americans despise ObamaCare, even though it was rammed down our throats and into our pocketbooks. But among all the issues we look at, it seems the one that is first and foremost, the one issue that may very well define the election results on November 4, is the economy.

Yes, I know we have been told the economy is doing just fine. President Obama is famous for the claim he made on 60 Minutes. “The country is definitely better off than we were when I came into office.” He then went on to admit that Americans are not feeling the “better” he was talking about. He laid the blame for that lack of feeling on the fact that incomes and wages are not going up.

President Obama: They don’t feel it. And the reason they don’t feel it is because incomes and wages are not going up. There are solutions to that. If we raise the minimum wage, if we make sure women are getting paid the same as men for doing the same work, if we are rebuilding our infrastructure, if we’re doing more to invest in job training so people are able to get the jobs that are out there right now, because manufacturing is coming back to this country. Not just the auto industry that we’ve saved, but you’re starting to see reinvestment here in the United States. Businesses around the world are saying for the first time in a long time, “The place to invest isn’t in China. It’s the United States.”

Well, duh! I would submit that the reason income and wages are not going up rests directly on the shoulders of the man making that statement. His policies, from the day he took office until now, have been focused on taking money from those who have it and giving it to those who do not. The small businesses and companies who are supposed to be the driving force of job creation in America are unable to perform the innovation and other tasks that precede the creation of said jobs. They can not expand their businesses and hire more people because they are constantly fighting against a government bureaucracy that seems determined to tax them into oblivion.

President Obama isn’t the only one who believes the best way to create jobs is to tax businesses and corporations until the bleed. Hillary Clinton had this to say at a campaign stop for Representative Sean Patrick Maloney, D-NY

Don’t let anybody tell you that it’s corporations and businesses that create jobs. You know that old theory, trickle-down economics. That has been tried, that has failed. It has failed rather spectacularly. One of the things my husband says when people say, ‘What did you bring to Washington?’ He says, ‘I brought arithmetic.’

The only thing she got right with that comment is the part about arithmetic. These liberals seem to think the only way they can help the economy is to tax corporations and businesses, both large and small, to the hilt. That’s all they want to talk about, as if it were some magic wand they can use to create jobs. Because of that attitude and the policies that stem directly from it, Americans are not feeling the “better” President Obama claimed into existence on 60 Minutes.

I am hopeful that enough Americans will realize the song and dance they have been sold is so much smoke and mirrors that they will send a decisive message to Washington on November 4. If we can focus on the job performance of the entire Obama administration, as well as the liberal Democrats in Congress, then possibly we can see our way through the fog and send the lot of them packing. I’ll even though this in, for good measure. If the Republicans who like to play nice with the liberals on their tax and spend ways, I hope they are sent packing as well. It’s time for the adults to take charge and pointing out the failure of the Obama economy is a good place to start.

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Free Money Ain’t Free

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Census figures show that over a third of Americans are receiving some means tested welfare; i.e., Medicade, food stamps, housing assistance, and other forms of Temporary Assistance for Needy Families as was reported by Fox News in late August. Of course, this is not surprising to anyone paying attention. This so-called recovery which we are told we are experiencing has been very lopsided in favor of the upper income folks and especially the Wall Street crowd. Inflation is low according to the Federal Reserve, but most people are seeing their cost of living go up while income is stagnant or declining. I think it was economist Charles Hugh Smith who said it best a while back: “we are experiencing deflation in things  we don’t need and inflation in the things we do need”. The unemployment rate is falling while the percentage of working age Americans with a job is decreasing. The jobs that are being created these past six years, which the Obama loves to brag about, are not keeping up with population growth and they are disproportionately low-income and/or part-time jobs.

If the politicians and think tanks on the Right have a plan for improving this moribund economy, I’ve not heard it. On the Left, however, “plans” abound from raising minimum wage to guaranteeing a “living wage” to “universal income” to, as reported here at  Asylum Watch, the Council on Foreign Relations (CFR) has written a white-paper proposing that the Fed’s Quantitative Easing program of giving free money to Wall Street be replaced with a program to give free money to the good folks on Main Street. CFR believes this will get the masses spending more and drive up demand, which in turn, will cause employers to expand production and hire more workers. Although the CFR recognizes the inflationary effects of such a program, they believe the Fed could control inflation by carefully increasing interest rates.

But, here’s what the Left doesn’t tell us about their “free money” schemes:

Free Money Ain’t Free!

The Left, of course, never give a moment’s thought to what their give-away programs cost.  I t is worth noting some of these socialist/Marxist are seeing that this peace meal approach is not working and so it is time, they believe, to go all-in and implement a “universal income“, as those at The Week recently did. After a long diatribe on how the policies of the heartless Right only make matters worse and how the policies of the caring Left don’t do enough, they came to this conclusion:

Therefore, one can easily imagine the historical process described by Marx going in reverse. In today’s labor market, where there are still twice as many job seekers as job openings, the constant conservative carping about the “dignity of work” sounds more jarring and vindictive by the day

As someone with a nice, stimulating job, I agree that work can help people flourish. But in an economy that is flatly failing to produce enough jobs to satisfy the need, a universal basic income will start to seem more plausible — even necessary.

Dear friends, you need to take this “free money” talk seriously. As the middle class continues to shrink, this idea is going to gain more traction.

Fortunately for those of us who seek information from alternative sources, there are some very smart people in the blogosphere. That includes my good friend at the Spellchek blog.  (Do yourself a favor and mark his post as a must read!) My friend was inspired by the article at The Week to get out his calculator and put pencil to paper and see what kind of money this idea might entail. He used Switzerland as a base case since they will be voting referendum to provide a universal income of $33,600 per year to their citizens. The using U.S. Census Bureau numbers he began crunching the numbers: (Bold added)

What if we followed the lead of the Swiss and doled out $33,600 per year to each one of us? That equates to over $8.1 trillion dollars annually, just a tad more than the $1 trillion dollar welfare number were arguing about now. With an economy worth an estimated $17.3 trillion annually, a basic income at that level would eat up nearly 50% of everything produced. Except that doesn’t count. Only our federal budget spending does which was only a meager $3.5 trillion last year.

Worse yet, federal revenues were only $2.8 trillion. We borrowed the rest just to spend $3.5 trillion. Can you imagine if we had to cough up $8.1 trillion for a basic income program? In fact, the biggest budget expenditure we have currently is social security at $814 billion last year, or 24% of the budget. A basic income program would be ten times the size of social security.

Redistributing federal budget monies is only a partial solution. Private wealth must be tapped as well (retirement funds anyone?).

This exercise in futility is funny until you realize that so many people are serious about it. I mean, what if we just took the $1 trillion the left claims is pie-in-the-sky and divided that up amongst our 242 million recipients? That’s only $4,124 bucks a year. Think that wouldn’t send the $15 minimum wage crowd over the edge? That’s chump change to them.

The bottom line is that the seemingly eternal quest of the socialists is that spending other people’s money still doesn’t get us to nirvana. If they ever want to get serious about it than the full-fledged approach of communism is the only way. All wealth must be confiscated and handed out to the masses. And we all know how that approach turns out.

Got that? Total federal government spending would be the sum of $8.1 trillion, for the “universal income” and the current spending level of $3.5 trillion, or a total of $11.6 trillion!

Nobody is going to lend US that additional $8.1 trillion, therefore, it will have to be printed, won’t it? So, how high would the Fed have to raise interest rates to keep a lid on inflation? Right! That, as my friend said, leaves communism.

Well, that’s what I’m thinking. What are your thoughts?

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Gas prices are falling, Do we question the timing…?

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gas pump

If there wasn’t an election in 2 months I might be happy about falling gasoline prices

Gas prices are falling. I question the timing.

Gasoline prices in New Jersey have dropped this summer and as of today, three stations in Union and Middlesex counties were charging as low as $2.98 for a gallon of unleaded.

That marked the first time since February that a station in the state sold gas for less than $3 a gallon, highlighting what oil analysts say is a trend that should continue into Labor Day and beyond.

Yup, “beyond,” to Election Day.

The $2.99 gas at two Delta stations in Rahway and one in Carteret “are more gimmicky now than anything else,” Kloza said. “But in the next few weeks you’re going to see more sub-$3 prices. I would not be surprised to see New Jersey average $3.10 by Election Day (Nov 4)”, he said.

The illusion of an improving economy just might help Democrats keep the Senate.

So, go ahead, call me a cynic. But if they’re willing to indict Rick Perry for doing his job, tell me, what won’t Democrats do to maintain their stranglehold on power?

Are you going to tell me that George Norcross couldn’t drop a dime and “suggest” that gas prices ease up because Jeff Bell is closing in on Cory Booker and people’s all-too-reasonable fears of econut economic turmoil need to be toned down? Harry Reid’s already given up on South Dakota, he can’t afford to lose a deep blue state like New Jersey.

Never mind that Booker’s Sierra Club buddies are hell-bent on stopping a vital natural gas pipeline project. And that they’re still tilting at bird-killing windmills, despite the guaranteed detriment to our view from the Jersey shore.

Listen up. If you think gas won’t be back to $3.89 a gallon by November 10th, you aren’t paying attention (or you’re an Obamabot, but I repeat myself). The long-term outlook for cheap, dependable fossil fuels in this state is grim, no matter what our beloved by lined Democratic Party operatives at the Star-Ledger might try to tell you before Election Day.

Perhaps they’ve conveniently forgotten that gas was selling at far below $2 per gallon when the Great and Munificent Barack Obama took office. Fortunately, I’m here to remind them, and you.

Obamanomics. It’s not the shiznit. So if you vote Democrat, you only have yourself to blame.

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If you’re wondering if our government is friend or foe, wonder no more.

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Political cartoonists are some of our most clever people. With simple caricatures and a few words they are able to capture the essence of an important issue facing the people. In my opinion, this cartoon which I borrowed from Zero Hedge, explains perfectly why Americans on Main Street do not feel like the government is working in your best interests.

 photo economycartoon_zps723beace.jpg

h/t @butifulabsurdt

That’s exactly right, isn’t it? The well being of the folks on Main Street was not a fundamental of interest to our central planners in Washington, D.C. Your well being was not a part of their calculus. Instead, they used your tax dollars and mortgaged the future earnings of your children and grandchildren and their children to prop up the banking cartel and their Wall Street cronies. One percent of the One Percent Club are enjoying a tremendous recovery while you are left sucking wind. Of course, they tell us that they saved from having to suffer a horrible economic melt down, which is true, but what they don’t tell us is that their methods are setting the stage for a much worse melt down in the near future. That is not a flaw in their plan; it’s a feature.

The President doesn’t give a damn about you folks on Main Street. Oh, he talks a good game. He fancies himself as the Middle Class Warrior. Really? What the hell has he done for middle class since he’s been president; other than screw them over by making them pay through the nose for his unaffordable Affordable Care Act and flood the country with illegal immigrants to help his US Chamber of Commerce cronies keep their labor cost down.

Does anybody really think the likes of John Boehner, Nancy Pelosi, Harry Reid, and John McClain go to their offices every day to represent you? They are only interested in protecting their positions of power and getting reelected. Period! The sad truth is, with few exceptions, people do not get into politics to serve you. They get into politics to benefit themselves.

The nation’s Attorney General hates you. He thinks you are all a bunch of racist cowards. The IRS thinks you are all A-holes. The EPA is working overtime to raise your cost of living and lower your standard of living. The CIA sees you as pawns in their game of geo-political chess. And, the NSA thinks you have no rights at all.

Judge Andrew Napalitano use to open his program with this question: “Does the government work for you or do you work for the government?”  The answer is pretty clear, isn’t it?

Well, that’s what I’m thinking. What are your thoughts?

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The illusion of a recovery: Unemployment drops as part-time work explodes

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part-time-jobs

Recovery Summer Episode VI, Revenge of the Part-Timers.

In the new landscape of the American labor market, jobs are easier to come by but hours remain in short supply.

New government data released Thursday showed the economy added 288,000 jobs in June — the fifth straight month gains have topped the critical benchmark of 200,000. The unemployment rate fell to 6.1 percent, down more than a percentage point over the past year.

But there’s a gnawing fear among some economists that the improving data provides false comfort. The number of people in part-time jobs jumped by more than 1 million in June to 27 million, according to the government’s data, making it one of the corners of the labor market that has been slowest to heal. That has led to worries that the workforce may be becoming permanently polarized, with part-timers stuck on one side and full-time workers on the other.

“What we’re seeing is a growing trend of low-quality part-time jobs,” said Carrie Gleason, director of the Fair Work Week Initiative, which is pushing for labor reforms. “It’s creating this massive unproductive workforce that is unable to productively engage in their lives or in the economy.”

The spike in part-time work since the recession has been largely involuntary. These workers may have had their hours cut or are unable to find full-time jobs, earning them the official designation of “part-time for economic reasons.” In June, their ranks swelled by 275,000 to 7.5 million. In 2007, 4.4 million people fell into this category.

So the good news, if you’re an Obamabot, is the economy added 288,000 new jobs last month. The Real News though is that 275,000 of those jobs are part-time.

Hope and change!

And then there are the drop-outs; folks who’ve given up on ever finding a job, even a “low-quality part-time” job.

The US unemployment rate dropped to 6.1% in June the lowest level since September 2008.

However the number of people not in the labor force also rose to a fresh record high of 92,120,000 up 111,000 since June.

In fact, there are more than 7 million fewer people in the workforce than when Obama took office. Add them back in to the mix and the unemployment rate tops out at over 12 percent.

All of this should come as no surprise, unless you’re living in a bubble.

When you raise taxes dramatically and roll out tons of burdensome regulations, a contracting economy is only a surprise if you’re an idiot. Or a member of this Administration and the press. But I repeat myself.

Sadly this Administration envisions no changes to its disruptive policies. Because they can’t, or won’t, admit they’re wrong. So, as long as they keep shoving in the same inputs, we’ll keep seeing the same abysmal outputs.

In other words, the beatings will continue until morale improves.

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Unemployment Down Due to People Getting Jobs, or People Giving up and Dropping out?

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unemployment

If you believe the Obama administration, or his sycophants in the MSM, the unemployment rate is down because of the President’s exceptional leadership and policies in the face of the racist GOP.  This should not come as a surprise, nor should we be surprised that the unemployment rate is really down due to the fact that so many people have dropped out, and given up on trying to find a job.  The Federalist has more…

According to new data from the Bureau of Labor Statistics (BLS) released this morning, the U.S. economy last month added 74,000 new payroll jobs, while the unemployment rate fell to 6.7 percent from 7.0 percent. Good news, right? Not really.

Yes, the unemployment rate has fallen significantly from its high of 10 percent in October of 2009. But it turns out the unemployment rate has been falling for a pretty depressing reason: people dropping out of the labor force. Last month, 347,000 workers dropped out, effectively sending the message that it wasn’t even worth looking for work anymore.

Here’s what the unemployment rate would look like if the labor force participation rate — basically the number of people in the economy working or looking for work — had remained constant since June of 2009:

Labor Force Dropouts Drive Lower Unemployment Rate (TheFederalist)

So in other words, Obama’s policies suck so horribly, that he’s contracting the labor force itself.  So many people have been unable to find work in Obama’s economy, that the have dropped out entirely. If you are not using unemployment to find a job, you aren’t counted, so the drop is because of dropping out-not getting jobs.

But, the liberals will continue to bleat to the beat drummed by the MSM.

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Obama: Promises, Promises …

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Stop Me

“Obama is a historic disaster of the first magnitude and, if not restrained, he will see to the irrevocable decline of the country which foolishly elected him, leaving the world on the brink of a conflict — or in the midst of one — whose repercussions cannot be underestimated.” – David Solway

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  • “Number of States won by: Obama: 19 Romney: 29
  • Square miles of land won by: Obama: 580,000 Romney: 2,427,000
  • Population of counties won by: Obama: 127 million Romney: 143 million
  • Murder rate per 100,000 residents in counties won by: Obama: 13.2 Romney: 2.1

In aggregate, the map of the territory Romney won was mostly the land owned by the taxpaying citizens of the country. Obama territory mostly encompassed those citizens living in low income tenements and living off various forms of government welfare…” – Professor Joseph Olsen (via Shoebat)

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Obama’s academic records are perpetually unavailable for a reason — and that reason is most likely that they reveal he received financial preferences, scholarships and/or loans, as a foreign student. — Roger Simon

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“It’s official — the government of the United States of Obama consists of boobs and bores and is led by a narcissist.” – Michael Goodwin

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Recently, a friend sent me a poll that indicated that when it came to Healthcare, Obama’s approval rating was 37%; the Economy (31%); Immigration (32%); Terrorism (51%); Foreign Policy (34%); and Overall Job Approval (41%). He concluded by saying that added up to six “F’s” and wondered how the Left would spin those catastrophic numbers.

“No problem,” I replied. “They will merely say that when it comes to those all-important issues, 226% of the people are behind Obama.” Burt Prelutsky

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Obama.  He’s destroyed our healthcare, gutted our military, mothballed our space program, opened our borders, sabotaged our foreign policy, bled our economy into anemia, and shredded our Constitution.  Who says he hasn’t kept his promises?

Eyes Left

Related stories:

Original Post: Promises, Promises …

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The Premeditated Murder of America’s Economy

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The title of today’s post is my humble attempt at taking “artistic” license with the title of an outstanding article at Monty Pelerin’s WorldEconomies Don’t Die. By quoting extensively from this article, my hope is that you will be encouraged to read the entire essay. I have never seen a more clear explanation of what is happening to our once great nation and why it is happening and who are the actors who are a fault. The author (Monty Pelerin is a pen name) starts with this pronouncement:

This country will die. History will record the cause as due to an event worse than the Great Depression. That diagnosis will be wrong.

Most conservatives know that this fiat debt driven economy will collapse in the not so distant future and it will be catastrophic for all but the most rich. So, why does the author say that the diagnosis will be wrong?

Economies do not die except when they are murdered. Free markets are self-equilibrating, healing themselves unless they are prevented from doing so.

And the, the author goes on to explain how this happens:

The very purpose of government intervention is to produce outcomes that otherwise would not occur. Intervention is always an attempt to overcome the natural equilibrium at which an economy would settle. Its very purpose is to thwart the intentions of individuals who make up the economy. Intervention is intended to alter the natural healing process.

Every so-called “economic” problem can be traced back to prior political intervention(s). Political actions deemed necessary today result from damages inflicted by prior government interventions.

And, the results are predictable:

  • Prices become inflated and distorted by liquidity and regulatory interventions. They no longer reflect true supply and demand.
  • Capital is mis-allocated as a result of false interest rate signals. Eventually this capital is seen as unprofitable and is abandoned.
  • Cheap lending and low lending standards encourage imprudent and eventually unsustainable levels of debt.

These distortions decrease an economy’s efficiency. General economic metrics like GDP eventually grow more slowly as a result, prompting calls for more political intervention. Eventually the distortions and disincentives grow to a point where standards of living and economies stagnate and then retrogress.

So, does the author put all of the blame on the political elites? No. He says that much of the electorate is as corrupt as the political class. He makes his point with a lengthy quote from Angelo M. Codevilla, professor emeritus at Boston University. The lengthy quote is about how the lies of President Richard Nixon were dealt with compared to the lies of Presidents Bill Clinton and President Barack Obama. This one paragraph catches the essence of the professor’s point:

Consider: In 1974 President Richard Nixon lied publicly and officially to cover up his subordinates’ misdeeds. His own party forced him to resign. In 1998 President Bill Clinton lied under oath in an unsuccessful attempt to cover up his own. But his party rallied around him and accused his accusers. In 2013 President Barack Obama lied publicly and officially to secure passage of his most signature legislation. But when the lies became undeniable, his party joined him in maintaining that they had not been lies at all.

When the professor says the “party” rallied around Clinton and Obama, he is not referring to only the party apparatus but also to those who support the party; the electorate.

This apt graphic of a quote from Frederic Bastiat was also taken from the Monty Pelerin essay.
plunder

As much as I enjoyed this Monty Pelerin essay, I humbly suggest that the author left out one of the main culprits to the murder of the American economy; the Federal Reserve and its monetary policies. The Fed’s interventionist monetary policies cause as much or more distortions to the economy than do the politicians. Defenders of the Fed often argue that their monetary policies are necessary to try to counter balance the detrimental fiscal policies perpetrated by the politicians. I don’t buy that argument. The Fed and the Political Class work hand-in-hand. They serve the same masters; the 1/10 of the “one percenters”. One of the principles of a murder investigation is “follow the money”. The same is true in the murder of an economy (although the word money should be replaced by the word wealth). It should be obvious that when the American economy dies, the only beneficiaries will be the 1/10 of the One Percenters. They will end up with all the marbles and then the game can be started over again. This premeditated murder of our economy has been going on for over 100 years.

The Players Play and the Payers Pay

For a further explanation of what I mean by that statement, please read the “About” page here at Asylum Watch.

Well, that’s what I’m thinking. What are your thoughts?

Original Post: Asylum Watch

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