"The welfare of humanity is always the alibi of tyrants" - Albert Camus

Wednesday, June 8, 2011

Random Thoughts on Recent News

McDonald's Economy:
Of the 54,000 new jobs added in May, McDonald's hiring accounted for 56% of it. Yes, the golden arches hired 30,000 employees in May. That leaves the millions of other businesses 24,000 jobs created - that is 480 jobs per state, folks. 
Does anyone in this inapt administration ever look at business confidence surveys, wonder why businesses are so reluctant to invest, and question the wisdom of their pedal to the metal approach to regulating? Naaah...
FCC in collusion with a socialist organization:
Judicial Watch obtained e-mails and other correspondence regarding NN (net neutrality) which is the most significant attempt by the Obama Administration to control internet. Is it any surprise that FCC under this Administration is in bed with the socialists at Free Press, especially after seeing the take over of NLRB by the marxist labor unions?
More labor board shenanigans:
Remember the recent NLRB decision to challenge Boeing's move of some of its assembly operations to S. Carolina - a right to work state? This time the agency involved is National Mediation Board and they decided that Delta Airlines has to agree to re-holding unionization election that the union recently lost. I guess you can win for losing if you are the Marxist labor unions under this regime.
Obama Administration back stabs an ally for the nth time:
The Administration continues to slap Britain in the face over the highly sensitive Falklands issue. Washington signed on to a “draft declaration on the question of the Malvinas Islands” passed by unanimous consent by the General Assembly of the Organisation of American States (OAS). The declaration calls for Argentina and Great Britain to enter into negotiations over the sovereignty of the Falklands, a position which London has long viewed as completely unacceptable. U.S. sided with the socialists in Argentina, Nicaragua, Ecuador, Peru, and Venezuela besides others. 
I'd say par for course. Remember Honduras?
Foreign aid folly:
According to a story in the U.K. Daily Mail, in 2010 alone we handed out $1.4 billion to 16 countries that own at least $10 billion in US Treasuries. So, let me get this straight: we give them foreign aid and they turn around and finance our debt?! Just amazing!
Ready to turn your arms over to the U.N.?
Forbes reports, under the guise of a proposed global “Small Arms Treaty” premised to fight “terrorism”, “insurgency” and “international crime syndicates”, you can be quite certain that an even more insidious threat is being targeted – our Constitutional right for law-abiding citizens to own and bear arms. And, of course, the Obama Administration is behind this treaty all the way.
Prez defaults to blame game:
What do you do when your economic blueprint has been a total failure? Blame everyone - GWB, Wall Street, Businesses, whoever - but yourself as Obama is so fond of doing. His latest predictable act came during the visit of Angela Merkel whose country's economy is headed the opposite way thanks to fiscal sanity. The guy just can't help himself.
Those pesky unemployment numbers dim Obama's 2012 prospects:
Remember Christina Romer's projection that with the stimulus, unemployment would not surpass 8%? We all know what a crock of bull that turned out to be. The Administration had estimated that every stimulus dollar spent would increase GDP by $1.55. Lets see, the GDP should have increased by more than a trillion and a half dollars, or roughly 13% over the past two years. Ummm... no!
In fact, whatever anemic recovery was underway seems to have stalled as the latest 1.8% growth and 9.1% U3 figures indicate. Oh, and by the way, that 1.8% is mainly due to inventory build ups. At retail level, the GDP growth rate is less than half that. 
The administration claims to have created 3 million jobs with the stim bill. Even if we accept that fantastical number, it pencils out to the stim bill costing $266,000 per job.
Besides, new research shows that the stim bill actually cost the economy half a million jobs in the aggregate.
Not looking good for the 'wonder boy' from Chicago gangland (even before the gas prices - oh did I mention that OPEC just agreed among themselves not to increase output? Hello $120+ barrel of oil).
GM CEO Akerson asks for a hike in federal gas tax:
The Obama puppet Akerson, who has no auto industry experience but nevertheless was appointed the CEO of Government Motors, is paying back the crony king president. Well not exactly, but that seems to be the only way he will ever sell the Volt to the unsuspecting public. I guess what is good for GM is not always good for America!
Obama's relations with most world leaders dismal:
Carrie Budoff Brown writes in Politico that President Obama has very poor personal relations with most world leaders. Even worse, the one leader whom he "respects and admires" is anti-American and anti-Semitic: PM Erdogan of Turkey.
You can only backstab so many allies before friend and foe alike will view you with suspicion.
 and finally......
Bernanke optimistic at the dusk of QE2:
About what? Growth as well as inflation. That is if you want to believe a man who said QE2 would be successful.
And the record of QE2?
  • The working labor force dropped as a percentage of the total labor force.
  • The unemployment rate was virtually unchanged.
  • Housing prices continued their downslide.
  • Growth in the economy slowed from 2.6% to 1.8% in the most recent quarter.
  • The rise in the stock market of 26%, according to Mr. Arends
  • Those who owned stocks had gains, but gave part of the gains back due to the rise in prices, especially of imported goods.
  • Wage gains trailed reported CPI inflation meaning the poor became worse off.
  • Non-investors in the stock market were made worse off as a result of higher prices.
  • The US government further added to the debt burden of the public with virtually nothing to show for it other than speculative financial markets.
  • The US dollar continued to lose value relative to other fiat currencies.
  • Precious metals and other hard assets continue to increase in dollar value.
  • The latest job report (May) showed only 54,000 private jobs created, of which reportedly half were jobs at McDonald's.
I had an article published in American Thinker last year. Even I look like a genious looking back in time.
And that is all the news fit to print for now folks.

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