I was going to lay low for a few days figuring I had spouted off enough as to the moronic idiocy that comes from our friends in D.C. Combine that with the fact I am extremely ticked off about the way our country is going down the tubes thanks to the leftist bastards now in power and my temper as a whole, I just wanted to back off for a while. Of course, that was a pipe dream! After all, Idiots Anonymous, the people in D.C., once again gave me fodder so I have to once again vent my spleen. Apologies in advance for any nasty words of which there will be a few.
As has been reported, Christina Romer is resigning her position to go back to Berkley and teach. Below are two exerpts reporting this. As anyone can see, apparently she believes tax hikes will harm the economy. I’m ok with that though. So what. Supposedly she’s leaving as she feels she is being ignored in deference to one of the President’s leftist advisors. So what set me off on this? Read the statement by her below! “The U.S. needs stronger job growth to lower the nation's unemployment rate.” No Shit Sherlock! Why do these elitist bastards have to talk down to us? We didn’t know this. The American people are too stupid to know something that basic?
Aug. 6 (Bloomberg) -- Christina Romer, who chairs the White House's Council of Economic Advisers, said the U.S. needs stronger job growth to lower the nation's unemployment rate.
Then this: At least I can almost applaud her for resigning. That is I would if she hadn’t of been so extremely stupid as to join this administration in the first place!
"Frustration with the slow job growth? Maybe the frustration is from the fact that Christina Romer knows better and that Obamanomics are a complete disaster. Romer knows that tax hikes mean loss of jobs and that is exactly what Obama intends to do. Christina Romer had no choice to resign, especially when she and her husband David Romer wrote “The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks.”
In short, tax increases appear to have a very large, sustained and highly significant negative impact on output… the more intuitive way to express this result is that tax cuts have very large and persistent positive output effects.”
Then we have President Bozo and his side kick “loose Cannon Joe” out there touting the great recovery. At the same time, we added roughly 75,000 jobs last week according to administration hacks. Oops! Moron alert! There were 150,000 more jobless claims. Seems like a net loss of roughly 75,000 jobs to me. Below from Bruce McQuain.
“Yup, as Tim Geithner would say – “welcome to the recovery”. And, given the trends, I would guess this isn’t the last of the “unexpectedly” high unemployment report we’ll see. Again, ad nauseam, there’s been no incentive provided by government, but plenty of disincentives that are keeping businesses on the sidelines and consumers from spending:
Initial jobless claims climbed by 19,000 to 479,000 in the week ended July 31, the most since April and exceeding the highest estimate of economists surveyed by Bloomberg News, Labor Department figures showed today in Washington. The number of people receiving unemployment benefits dropped, while those getting extended payments rose.
A cooling economy means employers will resist taking on more staff in coming months, raising the risk consumer spending will weaken further. The jobless rate rose last month as payroll increases weren’t large enough to keep up with gains in the labor force, economists forecast a government report tomorrow will show.
As if anyone has to be told, this is not good. And it wouldn’t surprise me to see the U6 unemployment rate tick up over 10% again in the next few months:
“There really is no upside momentum in the labor market, and that’s a critical long-term determinant of where the economy is going,” said Steven Ricchiuto, chief economist at Mizuho Securities USA Inc. in New York. “People just aren’t getting jobs.”
That’s because jobs aren’t being created and offered. Name the incentive, at this point, to do so? Tax increases are in the offing, health care laws, 1099 requirements, Democrats still pushing for cap-and-trade, new financial regulations that impact the market and economic policies which give the impression the administration is at war with business.
Why would any sane business owner invest in his business in times as unsettled as these?
Answer: he or she wouldn’t. And that’s the biggest reason unemployment continues to “unexpectedly” rise. Headcount is the easiest thing to add when times are good. It’s also the easiest thing to reduce when times are bad. And if they stay bad – as we’re seeing now – few if any are going to be adding jobs.
Economics 101 – provide incentives to get the behavior you want. Provide disincentives to discourage the behavior you don’t want. The administration’s economic policies have, to this point, provided business with all manner of disincentives to hiring. And then the “experts” are surprised when jobless rates are “unexpectedly” higher than estimated.
I found the below in the Illinois Review, but the conservative sites are reporting this pretty thoroughly. Bottom line: A big Democrat fundraiser is in fact corrupt. Funny how quiet the majors have been on this though. Oops! Forgot, a co-opted media can’t spread the truth about the people they support. Hell, they’re already upset enough that they have to at least report something as to Rangell and that racist Waters. Goebells' like propaganda. Truth be damned! Those of you who don’t like my comparing it to Goebells. TFB!!!
“Will the name "Magliocchetti" become as household as "Abramoff"?
The Washington Times' points to another federal Democratic scandal brewing in DC -- besides the Charlie Rangel/Maxine Waters' ethics embarrassment. This one involves an indicted super lobbyist that made $16 million a year lobbying for congressional earmarks. It remains to be seen as to whether the lamestream media makes the name "Paul Magliocchetti" as household as they did the name "Jack Abramoff":
A federal grand jury has indicted one-time supe rlobbyist Paul Magliocchetti on charges of making hundreds of thousands of dollars in illegal campaign contributions through straw donors to favored members of Congress.
Mr. Magliocchetti headed the PMA group, an Arlington lobbying firm that specialized in getting its clients earmarks from key members of the House Appropriations defense subcommittee. He arranged for large amounts in donations to, among others, three powerful Democratic members of the subcommittee - John P. Murtha of Pennsylvania, James P. Moran of Virginia and Peter J. Visclosky of Indiana.”
Finally, as to the corrupt leftist pig we get to refer to as Mr. President. Bad enough he has no leadership ability. Good at lying, blaming other people for what’s wrong. Can’t take criticism. Pisses him off . But the stuff below really shows just what a rancid piece of you know what this guy really is. One caveat here. Being from Chicago myself, I shouldn’t be the least bit surprised by the fact that this idiot would ask us to trust him and a corruption tainted candidate. It’s always been that way I guess. Basically, it’s more of the same old Bull Shit! And yes, I meant to say it exactly like that. Our country is in grave peril and this Bozo is telling us to trust him! Thanks but no thanks!
“What would Giannoulias know about “ordinary Americans”? Giannoulias, 34, befriended Obama during pickup basketball games with an elite group that also included Michelle Obama’s brother, Craig; Chicago edu-crat Arne Duncan (now Education Secretary); and hedge fund manager John Rogers (the ex-husband of the Obamas’ ex-White House social secretary, Desiree Rogers). He spread his wealth and influence around early and often to support Obama’s fledgling political career. He pitched in $7,000 in 2003-2004 to Obama’s Illinois State Senate bids. He hosted fundraisers for Obama’s U.S. Senate campaign in 2004 and for his presidential campaign in 2007.
Where’d the cash come from? Giannoulias’ Greek immigrant family founded Chicago-based Broadway Bank, a now-defunct financial institution that loaned tens of millions of dollars to convicted mafia felons and faced bankruptcy after decades of engaging in risky, high-flying behavior. It’s the place where Obama parked his 2004 U.S. Senate campaign funds. And it’s the same place where a mutual friend of Obama and Giannoulias — convicted Obama fundraiser/slum lord Tony Rezko — used to bounce nearly $500,000 in bad checks written to Las Vegas casinos.”