As the country steams along toward financial destruction,I think I really do see a green shoot.No,for real.We are already bankrupt,of course,because we owe more than we're worth.Deficits and spending are unprecedented,unemployment is up,credit remains tight,equity is dropping across the board,investors have lost trillions.All bad news to be sure.Seems to be only a matter of time before China pulls the plug on us and our entire financial sector collapses.
This is where the green shoot becomes evident.Once we default and the dollar becomes worthless,this is where the Obama bankruptcy team that just arranged the auto bankruptcies steps in.Remember,even though it's illegal,the Obama team decided not to pay off the bondholders and instead reward the UAW/CAW for their campaign support.All the plaintiffs with various litigation against the automakers-sorry,you got left out as well.The dealers who were successful and making money-sorry,you're out too.
Why not just let this team handle the bankruptcy proceedings and we can simply pay China,Japan and the other major debt holders to take 10 cents on the dollar?We can create a good U.S. and a bad U.S. just like GM.The good U.S. will be free of all debt and all future unfunded entitlement programs like S.S. and Medicare and health care reform and the carbon tax.We'll put all that in the bad U.S. side.In fact,since the Democrats own everything right now,why not let them pass everything they have ever wanted right before we file so all those obligations can go to the bad U.S..This will of course crush the economies around the globe and we can be the big dog on the porch again.So easy.More to come...
Friday, July 10, 2009
Stimulus futility
Time for an exercise in futility.Develop a realistic alternative to the upcoming 2nd Obama stimulus.Now,coming up with the plan isn't hard.Getting Congress to implement anything actually geared toward helping the economy is the futility.
We have over 27 million small businesses in the U.S. which have generated an average of between 60-80% of all new jobs annually over the last decade.Yet this is the area of the economy left out in the Obama stimulus.Small businesses generally account for roughly half of all private sector employees.Of course,once they become successful enough,they grow into a large business and are no longer included in this category.Over 99% of small businesses have less than 500 employees.
This is without question the key to any economic recovery.Private sector,small businesses are the lifeblood of our economy.Big corporations play an important role,no doubt,but they are small potatoes in the overall economy.As are Government jobs at least for now.If Obama has his way,they will dominate our economy eventually.
There are endless breakdowns and analysis of who pays the most taxes.Only Liberals live in denial that the top few percent of wealthy Americans pay the bulk of all income taxes.These same people own and operate these small businesses.Thus,a tax break for them translates into growing small businesses,additional hiring,more investments,etc.
An across the board tax cut,ala Reagan,is the proven method to economic recovery.However,the increased tax revenue created by reducing tax rates creates the problem.Congress will have at their disposal all of this additional money and to complete the cycle need to exercise great restraint and not spend it on growing Government.How do you pull that off with the hacks running Congress today?
At the end of the day,an effective stimulus is virtually impossible because of this.There are also massive attempts to expand regulation at all levels of Government as a lack of it is being blamed for the recession.This 1-2 punch will stunt any recovery.Throw in the Federal Reserve and Obama's social agenda and there's no chance.Our economy has proven amazingly resilient over time and able to bounce back from recessions without any intervention whatsoever.It would have in this case as well.
The only solution is to remove the anchors holding back recovery.The first opportunity is the mid-term elections.Step two is to make Obama a one term President.Only then can any real attempt at recovery begin.How far will we have fallen by then?Can we afford to wait several years to even start repairing the damage?I vote for a revolution right now!More to come...
We have over 27 million small businesses in the U.S. which have generated an average of between 60-80% of all new jobs annually over the last decade.Yet this is the area of the economy left out in the Obama stimulus.Small businesses generally account for roughly half of all private sector employees.Of course,once they become successful enough,they grow into a large business and are no longer included in this category.Over 99% of small businesses have less than 500 employees.
This is without question the key to any economic recovery.Private sector,small businesses are the lifeblood of our economy.Big corporations play an important role,no doubt,but they are small potatoes in the overall economy.As are Government jobs at least for now.If Obama has his way,they will dominate our economy eventually.
There are endless breakdowns and analysis of who pays the most taxes.Only Liberals live in denial that the top few percent of wealthy Americans pay the bulk of all income taxes.These same people own and operate these small businesses.Thus,a tax break for them translates into growing small businesses,additional hiring,more investments,etc.
An across the board tax cut,ala Reagan,is the proven method to economic recovery.However,the increased tax revenue created by reducing tax rates creates the problem.Congress will have at their disposal all of this additional money and to complete the cycle need to exercise great restraint and not spend it on growing Government.How do you pull that off with the hacks running Congress today?
At the end of the day,an effective stimulus is virtually impossible because of this.There are also massive attempts to expand regulation at all levels of Government as a lack of it is being blamed for the recession.This 1-2 punch will stunt any recovery.Throw in the Federal Reserve and Obama's social agenda and there's no chance.Our economy has proven amazingly resilient over time and able to bounce back from recessions without any intervention whatsoever.It would have in this case as well.
The only solution is to remove the anchors holding back recovery.The first opportunity is the mid-term elections.Step two is to make Obama a one term President.Only then can any real attempt at recovery begin.How far will we have fallen by then?Can we afford to wait several years to even start repairing the damage?I vote for a revolution right now!More to come...
Wednesday, July 8, 2009
Is the TSA effective?
More reports coming out today about the failures of the TSA and Federal Bldg. bomb screening.A baby was sent thru an airport x-ray machine.The Government auditors also smuggled bomb making materials thru several Federal buildings.A security agent was caught sleeping on the job.What's the problem?Obama has essentially declared the war on terror over in his efforts to appease the terrorists and be politically correct so who cares,right?
Just wanted to weigh in with my 2 cents.As a former TSA screener,I have seen firsthand how things are run.That's why I quit several years ago.As a veteran serving in the Air Force in the 80's,I thought I could continue my service to the country in the Dept. of Homeland Security.
It didn't take me long to realize that the TSA was simply an economic agency.It was created after 911 to give the appearance of real security and get people flying again.They had to give the aura of safety to provide confidence for passengers.This is not to say that there are no good people in the agency,as there were plenty who had the same mindset as myself.
We had several questionable scenarios arise over the 2 years I was there.The one that put me over the edge was a bomb alert.A contractor came thru the bag screening area with a large bag of tools and power equipment.The bag alerted and I followed all the protocols in place to determine the source.We could not clear the bag nor determine what was the source.The supervisor on duty in conjunction with the police put the guy on the plane anyway so as not to make him miss his flight.Obviously,nothing happened as in most cases,but had he disguised a bomb inside one of those power tools,we would have had a disaster.
That was it for me.If it had been an isolated incident,that would be different.But it was a pattern and I could not in good conscience continue the charade.I'm not posting this to deter people from flying.Nothing short of what is done in Israel and other middle east countries would be adequate and I'm a believer that you can just as easily get hit by a car.So carry on.Just be aware that the Dept. of Homeland Security is simply another taxpayer boondoggle fraught with waste.More to come...
Just wanted to weigh in with my 2 cents.As a former TSA screener,I have seen firsthand how things are run.That's why I quit several years ago.As a veteran serving in the Air Force in the 80's,I thought I could continue my service to the country in the Dept. of Homeland Security.
It didn't take me long to realize that the TSA was simply an economic agency.It was created after 911 to give the appearance of real security and get people flying again.They had to give the aura of safety to provide confidence for passengers.This is not to say that there are no good people in the agency,as there were plenty who had the same mindset as myself.
We had several questionable scenarios arise over the 2 years I was there.The one that put me over the edge was a bomb alert.A contractor came thru the bag screening area with a large bag of tools and power equipment.The bag alerted and I followed all the protocols in place to determine the source.We could not clear the bag nor determine what was the source.The supervisor on duty in conjunction with the police put the guy on the plane anyway so as not to make him miss his flight.Obviously,nothing happened as in most cases,but had he disguised a bomb inside one of those power tools,we would have had a disaster.
That was it for me.If it had been an isolated incident,that would be different.But it was a pattern and I could not in good conscience continue the charade.I'm not posting this to deter people from flying.Nothing short of what is done in Israel and other middle east countries would be adequate and I'm a believer that you can just as easily get hit by a car.So carry on.Just be aware that the Dept. of Homeland Security is simply another taxpayer boondoggle fraught with waste.More to come...
Sunday, July 5, 2009
Layoff all Republican Congressman?
Biden says we underestimated the severity of the economic crisis.Joe,your nose is getting longer.Everybody and their brother told you how bad it was and that your stimulus wouldn't work.You and Obama have selective hearing of course and were only concerned with implementing your agenda.
Now it suits your purpose to "come clean" and confess that you underestimated because you are laying the groundwork for phase 2 of the stimulus.We will hear that we didn't do enough the first time and that we'll get it right this time.Hope that nose doesn't get so big your glasses don't fit.
I had a thought on how to save money.With the Franken "hiring" in the Senate,the Republicans are now officially irrelevant in Congress.The minority party in the House and they play no role in forming legislation with the Pelosi rules in play.The minority in the Senate with the Democrats now achieving their filibuster proof headcount.Obama calls on them for window dressing to give the appearance of bi-partisanship.
Why not just layoff all the Republican members of Congress?Look at the money taxpayers could save.Do the opposition votes on the Obama laundry list of social legislation really matter?They will push thru anything they want between now and 2010 anyway.I know that's not how our democracy works and this is a silly premise,but it's not that far out at the end of the day.More to come...
Now it suits your purpose to "come clean" and confess that you underestimated because you are laying the groundwork for phase 2 of the stimulus.We will hear that we didn't do enough the first time and that we'll get it right this time.Hope that nose doesn't get so big your glasses don't fit.
I had a thought on how to save money.With the Franken "hiring" in the Senate,the Republicans are now officially irrelevant in Congress.The minority party in the House and they play no role in forming legislation with the Pelosi rules in play.The minority in the Senate with the Democrats now achieving their filibuster proof headcount.Obama calls on them for window dressing to give the appearance of bi-partisanship.
Why not just layoff all the Republican members of Congress?Look at the money taxpayers could save.Do the opposition votes on the Obama laundry list of social legislation really matter?They will push thru anything they want between now and 2010 anyway.I know that's not how our democracy works and this is a silly premise,but it's not that far out at the end of the day.More to come...
Friday, July 3, 2009
June unemployment - 16.8%
The June unemployment numbers are out.The National rate is 9.5% up from 9.4% in June.
I question the validity of the "official" unemployment rate.Check out Table A-12,the Alternative Measure of Labor Underutilization on the Bureau of Labor Statistics website.
The U-6 measure is 16.8%.This incorporates several additional scenarios and may be more appropriate.More to come...
I question the validity of the "official" unemployment rate.Check out Table A-12,the Alternative Measure of Labor Underutilization on the Bureau of Labor Statistics website.
The U-6 measure is 16.8%.This incorporates several additional scenarios and may be more appropriate.More to come...
Thursday, July 2, 2009
300,000 jobs saved by stimulus!
Another update on the Obama claim of June 8th when he stated we would "save or create" 600,000 jobs over 100 days this summer.
Today is July 2nd,day 25 since he made the claim.At 6,000 jobs per day,we should have now "saved or created" 150,000 jobs.And that's on top of the original 150,000 jobs he claimed to have saved prior to June 8th.Awesome!300,000 jobs saved!
With todays updated National unemployment rate at 9.5% and another 467,000 jobs lost,obviously he will use his ace up the sleeve "saved" claim again.
It would have been 617,000 jobs lost in June were it not for his stimulus package.Sure glad we went in debt for the $787 billion well spent tax dollars.Except that it will of course be more than that and talk is ramping up of the guaranteed 2nd stimulus.
Just a sidenote.We swapped Marian Hossa for Ben Gordon.Sort of.Who's better off-Wings,Pistons,Blackhawks,Bulls?We know for sure Hossa can't deliver in the clutch.Can Gordon?More to come...
Today is July 2nd,day 25 since he made the claim.At 6,000 jobs per day,we should have now "saved or created" 150,000 jobs.And that's on top of the original 150,000 jobs he claimed to have saved prior to June 8th.Awesome!300,000 jobs saved!
With todays updated National unemployment rate at 9.5% and another 467,000 jobs lost,obviously he will use his ace up the sleeve "saved" claim again.
It would have been 617,000 jobs lost in June were it not for his stimulus package.Sure glad we went in debt for the $787 billion well spent tax dollars.Except that it will of course be more than that and talk is ramping up of the guaranteed 2nd stimulus.
Just a sidenote.We swapped Marian Hossa for Ben Gordon.Sort of.Who's better off-Wings,Pistons,Blackhawks,Bulls?We know for sure Hossa can't deliver in the clutch.Can Gordon?More to come...
Subscribe to:
Posts (Atom)
Posts
