Unemployment Rate Falls to 9.5% as Report Shows 125,000 Jobs Lost in June - WSJ.com

GORING THE SACRED OX: Unemployment Rate Falls to 9.5% as Report Shows 125,000 Jobs Lost in June - WSJ.com

Is the real question what will happen in November (or really January) or is it will the Republicans either not have a sufficient majority or the political will to tackle entitlements.

The idea of all these 'entitlements' is like a cancer. It has infected Europe and many in the United States (led of course by unions, the Democrats, etc.).

At some point, as with Greece, the balloon does burst.

At that point, the country either has to print to survive or go down hill.

Scary evidence of how really bad the anti-business attitudes and out-of-whack policies are in the US was a report this week on Bloomberg that venture capital companies in Silicon Valley are now funding entrepreneurs who are outsourcing (i.e. out of the US) a lot of fundamental research and product development.

The cost structure in the US needs major work. One of the ways in which this could be done is by making it cost-wise more feasible to do business in the US. The only way this would seem to be able to be done (is not by raising the yuan, but) is by cutting out the taxes and other costs for entitlements that drive up the cost of labor in the US.

To do this, a lot of oxes will have to be gored.