ROMAN RUIN: Medicaid Stalemate Tests Cash-Strapped States - WSJ.com: "- Sent using Google Toolbar"
I like Medicaid providing 'free aspirin'! Just unbelievable.
It boggles the mind to consider how so many people are being 'ruined' by this sense of entitlement.
(In one way it's a stretch, but one of history's comments on the cause of the 'Dark Ages' was that previously 'democratic' areas of Europe, such as Gaul, had spent so much time under Roman imperial rule, that all sense of democracy had vanished as Rome fell and they had to govern themselves. It reminds me of how people being responsible and self-reliant and working and saving is being destroyed by the liberal/Democratic view that everyone can just ask government for anything they need - and, they don't need to work or pay for it! Someone else will provide.)
Tuesday, July 13, 2010
Friday, July 9, 2010
John Lechleiter: America's Growing Innovation Gap - WSJ.com
EONOCMIC NUTRIENTS: John Lechleiter: America's Growing Innovation Gap - WSJ.com: "- Sent using Google Toolbar"
Loads of people are providing Americans with an alternative to UAW inspired entitlement spending as a way to grow the US economy.
Sadly, the administration is trying to use just words to try and convince the private sector and investors that what it is doing in terms of policy isn't what it would like to see.
It reminds me of the two farmers. One irrigates his fields and can be assured of a good crop. The other (i.e. Obama's policies) are like the farmer who thinks the occasional rain will be all that's necessary; and, when he sees a bit of green after a shower, he thinks he's done all he needs to do.
Meanwhile, the developing world and China are learning about and also using irrigation to grow their economies. As for Obama, his only thoughts seem to be on how to tax those who dare to apply water and nutrients to the economic soil.
Loads of people are providing Americans with an alternative to UAW inspired entitlement spending as a way to grow the US economy.
Sadly, the administration is trying to use just words to try and convince the private sector and investors that what it is doing in terms of policy isn't what it would like to see.
It reminds me of the two farmers. One irrigates his fields and can be assured of a good crop. The other (i.e. Obama's policies) are like the farmer who thinks the occasional rain will be all that's necessary; and, when he sees a bit of green after a shower, he thinks he's done all he needs to do.
Meanwhile, the developing world and China are learning about and also using irrigation to grow their economies. As for Obama, his only thoughts seem to be on how to tax those who dare to apply water and nutrients to the economic soil.
Mohamed El-Erian: The Real Tragedy of Persistent Unemployment - WSJ.com
LIVING WAGES, ETC.: Mohamed El-Erian: The Real Tragedy of Persistent Unemployment - WSJ.com: "- Sent using Google Toolbar"
Another problem is the attraction of Democrats in particular to the idea of the "living wage" (e.g. the increase in the minimum wage).
As seen in Europe and evidenced by unions in the US, there are many constraints and policies that artificially distort the cost of labor. Thus, a job that might exist if one could pay $10 an hour, won't exist when the cost to the employer is $20 and the net to the worker is $5.
It would be interesting if, in the name of transparency, all employers had to give their employees a statement showing what the cost of all government mandated programs and taxes (and union demands, where applicable) would be.
Since many people in business say these costs are some 400 - 500% of the listed pay of the employee, my guess is the average American worker would suddenly start to question the bane of government mandates on their pay and job opportunities.
Another problem is the attraction of Democrats in particular to the idea of the "living wage" (e.g. the increase in the minimum wage).
As seen in Europe and evidenced by unions in the US, there are many constraints and policies that artificially distort the cost of labor. Thus, a job that might exist if one could pay $10 an hour, won't exist when the cost to the employer is $20 and the net to the worker is $5.
It would be interesting if, in the name of transparency, all employers had to give their employees a statement showing what the cost of all government mandated programs and taxes (and union demands, where applicable) would be.
Since many people in business say these costs are some 400 - 500% of the listed pay of the employee, my guess is the average American worker would suddenly start to question the bane of government mandates on their pay and job opportunities.
Tuesday, July 6, 2010
Perched between growth and recession Irwin Kellner - MarketWatch
A BETTER STIMULUS: Perched between growth and recession Irwin Kellner - MarketWatch: "- Sent using Google Toolbar"
Sadly, the stimulus that's needed is off the table for Obama and Pelosi - i.e. (1) reign in government unions and their pay and benefit structures (Federal, State and local) => long term savings; (2) reign in entitlements; (3) stop the idiotic drug war; (4) most importantly, set out clear programs to assure business that laws will be respected (i.e. UAW and GM, Chrysler); (5) fix immigration so the US knows it can always have the best and brightest come and work in the US without constraints; (6) stop meddling with banks and finance to make sure the US is where money wants to come and go to work (this also involves stopping IRS witch hunts); (7) cut business and investment taxes; (8) pass laws that allow employers to get rid of unions so employees aren't stuck with regressive, job-destroying labor leaders.
This would be a no new tax way to provide a lasting stimulus.
Sadly, the stimulus that's needed is off the table for Obama and Pelosi - i.e. (1) reign in government unions and their pay and benefit structures (Federal, State and local) => long term savings; (2) reign in entitlements; (3) stop the idiotic drug war; (4) most importantly, set out clear programs to assure business that laws will be respected (i.e. UAW and GM, Chrysler); (5) fix immigration so the US knows it can always have the best and brightest come and work in the US without constraints; (6) stop meddling with banks and finance to make sure the US is where money wants to come and go to work (this also involves stopping IRS witch hunts); (7) cut business and investment taxes; (8) pass laws that allow employers to get rid of unions so employees aren't stuck with regressive, job-destroying labor leaders.
This would be a no new tax way to provide a lasting stimulus.
Sunday, July 4, 2010
Alan Abelson: Up and Down Wall Street - Barrons.com
ROMER AND OBAMA AS MEMBERS OF THE CATHOLIC INQUISITION: Alan Abelson: Up and Down Wall Street - Barrons.com
Somehow listening (as briefly as possible) to Christine Romer and other defenders of Obama economic policies (including the man himself), I somehow can't help but think I'm listening to the economic equivalent of Catholic priests who are members of an inquisition in the 16th century.
Their confident rectitude seems at least 400 years beyond belief.
But, as with those trusty inquisitioners, the world was flat and they'd burn you at the state for any dispute.
Somehow listening (as briefly as possible) to Christine Romer and other defenders of Obama economic policies (including the man himself), I somehow can't help but think I'm listening to the economic equivalent of Catholic priests who are members of an inquisition in the 16th century.
Their confident rectitude seems at least 400 years beyond belief.
But, as with those trusty inquisitioners, the world was flat and they'd burn you at the state for any dispute.
Saturday, July 3, 2010
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.
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.
Friday, July 2, 2010
Unemployment Rate Falls to 9.5% as Report Shows 125,000 Jobs Lost in June - WSJ.com
FUNNY MATH: Unemployment Rate Falls to 9.5% as Report Shows 125,000 Jobs Lost in June - WSJ.com
What hits one right away in this article (not the reporter's problem) is the lack of a logical relationship between the net 'loss' of jobs (-125,000) yet a 'drop' in the unemployment rate (from 9.7% to 9.5%).
Not that one wants to say that the government statisticians are purposely lying. No, maybe they aren't.
But, since the math doesn't make sense in the two reports, one does wonder what else isn't reflecting what people see and feel about the economy and job market?
There were two schools of thought when the economy saw housing price increases rapidly outstrip income gains. Most thought everything was OK and their was nothing amiss.
Today, people seem to feel there is no problem with government borrowing all the money there is out there and, rather than restricting entitlements, letting them just blow out of the water. Yet, none of this produces jobs and huge numbers of people (including the current administration) see no correlation between government taking money out of the private sector and the private sector not creating jobs.
One's eyebrows do raise at this ability to ignore the obvious!
What hits one right away in this article (not the reporter's problem) is the lack of a logical relationship between the net 'loss' of jobs (-125,000) yet a 'drop' in the unemployment rate (from 9.7% to 9.5%).
Not that one wants to say that the government statisticians are purposely lying. No, maybe they aren't.
But, since the math doesn't make sense in the two reports, one does wonder what else isn't reflecting what people see and feel about the economy and job market?
There were two schools of thought when the economy saw housing price increases rapidly outstrip income gains. Most thought everything was OK and their was nothing amiss.
Today, people seem to feel there is no problem with government borrowing all the money there is out there and, rather than restricting entitlements, letting them just blow out of the water. Yet, none of this produces jobs and huge numbers of people (including the current administration) see no correlation between government taking money out of the private sector and the private sector not creating jobs.
One's eyebrows do raise at this ability to ignore the obvious!
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