To me, the Facebook IPO is a perfect metaphor for the Barack Obama Economy. It has the awesome sales-pitch. Everybody is excited and nobody had better dare talk it down. All the experts touted the cutting-edge science explaining why it was the best idea for the current situation. Then, we’ll let Christina Romer explain bluntly* what exactly happened next.
Maybe that Lasik Surgery I had a couple of years ago didn’t quite take. Maybe I just got shot in the face with a laser for nothing. I say that because I’m looking at both Louis Farrakhan and Paul Krugman and swear that the two men could be twins. OK, just kidding. The two men could be ideological twins. In fact, I respect Farrakhan more. At least when he hates your guts for being White and Middle Class, it comes from his heart and isn’t just his day job.
I notice the confluence between these two unlikely figures because each has recently taken to the media to express their despicable hate speech. Farrakhan, I reiterate, extemporaneously speaks his deracinated mind and from his shriveled heart and his iniquitous soul. Krugman, however, writes carefully. He selects his words to reflect the malice towards individuals like myself. He has pickled his views in this hatred the way Korean grocers prepare a jar full of Kim Chi.
We can statistically quantify “Too Big To Fail” in a number of different ways. George Will of the Washington Post is man familiar with the uses (and perhaps the nefarious uses) of quantitative data. He tells us 5 banks hold assets equal to 60% of the GDP. The top 10 banks hold 61% of all commercial banking assets; they only had 26% 20 years ago.
Will’s basically Conservative bent leads him to not be fond of the Dodd-Frank Act inflicted upon American Industry by the current Obama Regime. I certainly agree and sympathize with this point of view. However, not liking Dodd-Frank is one thing, getting rid of it and the systematic problems that made its overreach tenable is a taller order than merely quantified complaining. To actually dismantle the TBTF Empire and the implicit guarantee it enjoys via Dodd-Frank, it may help us to indulge in some Presidential History involving too great men. President Andrew Jackson foresaw and attempted to prevent this problem. President Theodore Roosevelt solved TBTF in some industries other than banking.
With its false attack on mine workers who support Mitt Romney, the Obama regime has increased its reputation as a petty, thin skinned ineptocracy who would resort to political thuggery if they could figure out how to do it.
Barack Obama has a new ad out letting us all know just how tough the job is and explaining that even though he has accomplished less than nothing it is vital that he be reelected. In the process he accomplishes a new first in the category of presidents.
A writer to the Washington Post complains that Mitt Romney’s frugality is actually a character flaw. As the writer is a Maryland Democrat, that tells you all you need to know about the writer’s tenuous contact with fiscal sanity, but a deeper look indicates that Romney’s example could help the federal government.
Every month, we try to break down the monthly employment report from the BLS and analyze it in plain English. Today’s report of September employment is so bizarre that it’s hard to comprehend, much less give over. The BLS puts out two surveys: 1)the establishment survey, which shows the growth in non-farm payroll jobs (as well as a breakdown by specific industry), surveys businesses and | Read More »
Obama thinks the American people are stupid. Throughout the debate, Obama regurgitated his talking points about a balanced solution to the debt crisis. In the process he insulted the intelligence of every voter by intimating that the budget can be balanced by eliminating a few tax credits. No, he didn’t commit to tackling the tens of trillions in unfunded liabilities to Medicare and Social Security. | Read More »
We’ve all been critical of Mitt Romney from the beginning of the primary and throughout the general election for his lack of core principles, pale-pastel ideas, flaccid attacks on Obama, and lack of specifics. I have not shied away from pointing out that the Romney convention along with his acceptance speech was a disaster. So what about his debate performance? To paraphrase Michele Obama, this | Read More »
Last week the Bureau of Labor Statistics released a disingenuous report claiming that and additionsl 386,000 jobs had been created this year which boosted the Obama regime’s job creation record into positive territory. This report ignores increases population increases and other factors which indicate a fairer judgment is that about 10 million jobs have vanished under the regime.
In Florida, America’s Rain Man, Joe Biden, promised seniors that Obamacare would provide for free a colonoscopy based on a “feeling they had” and not on medical need. In doing this, and sanctioning the overuse of a procedure that is considered to be one of the most overused Medicare procedures, Biden demonstrated what is wrong with Medicare.
Yet another Recovery Summer ends under the pathetic Obama regime and we find employment down, labor force participation down, incomes down, production down, and GDP down. The only up is food stamp recipients and college loan defaults. And the regime and its media enablers can only tout cargo cult economics.
Economist Paul Samuelson was once asked to explain how sin taxes worked. He offered up the following commentary.
“Sin Taxes” are so called because they are levied on those commodities, such as tobacco and alcohol, which are the objects of widespread disapproval. “Such taxes,” Paul Samuelson says, “are often tolerated because most people–including many cigarette smokers and moderate drinkers–feel that there is something vaguely immoral about tobacco and alcohol. They think these ”sin taxes“ stun two birds with one stone: the state gets revenue, and vice is made more expensive.”
This is absolutely what has not happened in New York since Mein Obama and Gropenfurher Bloomberg have decided they would levy exorbitant sin taxes on tobacco products in New York City. Newsday.com describes the destructively regressive nature of the sin taxes on tobacco below.
Seven out of ten is bad. Really bad. Outstandingly bad. When seven out of the ten richest counties in America are proximate to Washington, DC, this is a statistical harbinger of national decline. Our current president not only didn’t change Washington from the inside, he quickly concluded he had no particular reason to want to.