The White House has been celebrating that the unemployment rate fell to 9.7% even though it was because 1.1 million Americans have quit looking for work. Every time I see the affirmative action dolt on television I just cringe at his stupidity. I mean if the dude is smart enough to figure out Bush set him up for failure with three bail outs why did he do the fourth and now a fifth? Of course the answer is his head doesn’t have an original thought in it unlike Bill Clinton who knew bull crap when he saw it. But anyway what is the real employment picture.
Non-Farm Payroll Not Seasonally Adjusted
Total non farm payroll (not seasonally adjusted) went down from December (130,431) to January (127,612) or 2819 x 1,000 = 2,819,000 less workers in the economy IN ONE MONTH. The percent of the work force employed is 41.9% of the total population of 308,833,000. Compare that to December 2007 when 45.5% of the work force was employed in non farm jobs. The only sector of massive growth is government jobs. I am sure China is impressed with that number.
Weekly hours worked is down 3.5% since Obama was inaugurated. The civilian participation rate is down from 65.7% to 64.7% and drastically down from its five year high of 66.2%. So we lose 4 millions workers permanently, hey its good new to the White House. The Fed won’t even release the tax receipts numbers for October.
The bottom like is Greenspan set up Bush for his economic collapse with the bogus 1% Fed Funds rate during the housing bubble and Bush set up Obama with three bail outs that ballooned the deficit. Obama being the Harvard educated economic illiterate that he is just continued the same stupid policies of Bush not even thinking about it. By the time that fourth bail out came the peasants were ready for a rumble. And Obama walked right into the ambush.
Okay as the cliché goes fool me once. I am willing to give Obama some slack on the first “stimulus” plan. We all make rookie mistakes. But the idiot is too stupid to figure it out. He is a walking advertisement of why we need to end affirmative action in this country. Bill Clinton made similar mistakes with health care and the economy. But he learned, cut capital gains taxes, signed welfare reform, signed NAFTA and balanced the budget. Obama only knows what he read in books and that is redistribute the wealth, tax, spend, America is bad. The tape recorder is on a loop and he can’t shut it off.
Here’s a clue. Really freeze all federal spending except defense. Cut corporate taxes to 25%. Cut capital gains taxes to 10%. Extend the Bush tax cuts to 2013. Set up a commission to eliminate departments like education and housing and let the states deal with it. Stop bailing out states with “stimulus” money. They made their bed let them lie in it. But the 95 IQ affirmative action dolt will march off the cliff taking us idiots who voted for him with him. Where is Rudy Giuliani when you need him?
February 6th, 2010 at 12:12 pm
Do you not imagine it would be far better to think twice about it? That is not saying that you are completely wrong, nevertheless if you put things similar to this, it’s going to upset a few folk. And I ponder if you have offered thought towards the other side of your statement.
February 7th, 2010 at 7:29 am
In the second to last paragraph you make it sound like, passing NAFTA was a good thing. Where actually NAFTA is the one of the reasons for the job crisis this country is in.
But I would like to know where do you stand on things like (H.R. 25) Fair Tax Act? Education reform?
February 7th, 2010 at 10:13 am
NAFTA and all free trade helps the three nations. There may be some points of the agreement that are bad but overall it is beneficial for Canada, Mexico and the United Stated by making available cheaper goods that benefit the wallets of the consumers in those nations. Of course there are losers with free trade but the winners (consumers) outnumber the losers 9 to 19 to 1. Depends on the situation of course.
I support the Fair Tax and as long as the 16th amendment is repealed I am 100% behind it. But the real problem is not if it is a flat tax or fair tax it is the size of government. As Aurthur Laffer has shown the proper size of government, federal, state and local is about 27% to 30%. Currently we are at about 45%. We can have a Fair Tax but if the federal government consumes 30% of the GDP and the states 20% it will make little difference.
February 7th, 2010 at 9:55 pm
Education should be at the local level period. Vouchers, charter schools, and innovation should be stressed.
February 8th, 2010 at 8:59 am
@Steven … are you actually Steven or someone supporting him ONLY?
What is your argument against NAFTA exactly?
What are your views on (H.R. 25) Fair Tax Act? Education reform?
February 9th, 2010 at 1:35 pm
I am actually Steven. But actually NAFTA is not good in any way. It allows American companies to go to other countries and produce the product cheaper and Americans loose their jobs. I agree with fair trade more then free trade. When NAFTA passed (negotiated by Reps’ and passed by the Dem’s) a lot of American companies shut down plants in the US and reopened them in Mexico and Canada.
(H.R.25) Fair Tax Act would be like giving people a stimulus check every month. Some like me would get an extra $400/month not including the probate check. That is a nice new car payment of money I could put away for retirement or money I could invest into stocks, bonds, IRA’s and so on. For a married couple your talking $800/month which is a house payment in my area where I live. And now Illegal aliens and drug dealers and prostitutes and many others who currently get paid under the table would now be paying taxes. So how many more millions of people would be paying taxes compared to now? 20-30 million more. I could go on and on with the benefits of the Fair Tax over a flat tax or the current income tax. Go to http://www.fairtax.org and read it for yourself. I don’t use funny math I use general math I learned in middle school.
February 9th, 2010 at 1:40 pm
Education should be more on the local level but just Google “Iceland’s educational system” and read how one of the best (if not the best) educational systems works. Iceland has 100% literacy and almost every child has a AS, BS, AA degree when they hit the real world. Some of the most renowned Doctors, scientist, artist in the world came from Iceland.
February 9th, 2010 at 9:55 pm
Steven,
Actually I was in Iceland for a year. It is a very homogeneous society and almost any educational system would work there. Iceland has been literate thousands of years and has a very strong tradition of education. America is very diverse and a all the above approach should be used. Vouchers, charter, public, technical and religious.
Free trade to economist really isn’t something we debate a lot. Most, all that I know or follow support free trade because the winners are the people. When something is made in Mexico cheaper it increases the purchasing power of the average American who then has extra money to buy other goods and services. Americans export computer programs, movies and culture.
Another reason is it allows America to get rid of low tech and rudimentary labor jobs freeing up resources for the higher education jobs in the service center like computers, banking and insurance services of higher quality than in Mexico and Canada.
The final death blow that caused unemployment to go from 10% to 25% during the Great Depression and gave rise to Hitler was the Smoot-Hawley act of 1931. It raised tariffs 90% in some cases and led to retaliation from Europe and threw the world into depression. Trade back then was 7% of the US GDP. Today US trade is about 24% of GDP. A trade war today would be far more devastating than back in 1931.
To be honest free trade is a no brainier to economist on the left and right. Only politicians playing to unions and constituencies seem to be against free trade. NAFTA is not perfect but it has increased the standard of living for all participants because we all gain from lower cost and higher purchasing power.
As for the losers in free trade nothing last forever. Look at the DOW Jones companies of 1930, 1940, 1950 and today. The world and industries change. And there is not a lot politicians can do about it.
Keeping trade barriers in the long run drives up cost and lowers the standard of living. My wife is from Venezuela and she has seen this first hand with her relatives who come here regularly and buy anything they can get their hands on because it is so expensive in Venezuela. If Venezuela had free trade policies (their tariffs are around 90%) her relatives would have no need to buy here and maybe visit less if you know what I mean.
As for the Fair Tax it is not a magic pill. Property rights and federal, state and local spending constraints are more important than a nations tax structure. But like I said I will be 100% for it when congress repeals the 16th amendment.
February 10th, 2010 at 10:13 am
Welcome Steven!
I am loving watching the dialog between you and Economics.
A discussion between 2 well versed intelligent guys is a rare highlight in my day.
If you have other forums that you frequent (a good idea for election exposure) send them my way and I will post them for all other visitors to enjoy.
There is a limit to links on this forum but I will over ride it for you should you choose to share