CREDIT CARD GOVERNMENT: Overhaul Not Expected to Change Health Spending - WSJ.com: "- Sent using Google Toolbar"
LATEST DEFICIT ESTIMATE: $ 1.45 TRILLION.
And, add to the overall problem of the economy the fact that the money to pay for all of this is based on taxing someone else to pay for all of it (direct taxes, mandated premiums, etc.).
So there is less efficiency in the economy overall and the Democrats again show a basic lack of economic understanding.
It's like the family that has two choices - get a better job to spend more; or, just put it on plastic.
Clearly the Democrats are on the credit card binge - and, we all know what usually happens: the income won't increase to pay for it (they only know how to screw the economy up worse and worse) and eventually bankruptcy (or, more likely hyperinflation).
Both the US and England are talking about more quantitative easing (or in common terms - printing the money that you've run out of).
Thursday, September 9, 2010
Overhaul Not Expected to Change Health Spending - WSJ.com
HMMM...MORE GRIST FOR THE DOUBLE-DIP: Overhaul Not Expected to Change Health Spending - WSJ.com: "- Sent using Google Toolbar"
Would it be an understatement to say these charts should scare the bejesus out of someone?
Niel Ferguson was right yesterday on Bloomberg (Wed) that its unlikely either party can really be counted on to rein in the entitlement spending spree Americans are addicted to.
After all, it took a bankruptcy to even start to rein in the UAW and their approach to economics seems to be the playbook of the Democrats and Obama.
(It's also interesting to see how the odds of a double-dip seem to be increasing. If I recall correctly, Roubini's odds this morning were reported to now be 40%.)
Would it be an understatement to say these charts should scare the bejesus out of someone?
Niel Ferguson was right yesterday on Bloomberg (Wed) that its unlikely either party can really be counted on to rein in the entitlement spending spree Americans are addicted to.
After all, it took a bankruptcy to even start to rein in the UAW and their approach to economics seems to be the playbook of the Democrats and Obama.
(It's also interesting to see how the odds of a double-dip seem to be increasing. If I recall correctly, Roubini's odds this morning were reported to now be 40%.)
Tuesday, September 7, 2010
Review & Outlook: The Obama Economy - WSJ.com
BLEEDING THE ECONOMY TO CURE ITS ILLS: Review & Outlook: The Obama Economy - WSJ.com: "- Sent using Google Toolbar"
Do the Democrats and President Obama remind anyone of 17th century doctors? All thought highly of as their time; but, of course in light of modern medicine they would be 'quacks'?
Clearly the stab in the dark attempts to give the economy a transitory boost with the proposed tax cuts and spending are a further indication that the President, his advisors and the Democrats are flailing and really have no idea how to get the economy on a healing path.
They don't know why their policies have failed because the overriding goal was to restore the middle class standards by borrowing and imposing burdens on business. They clearly don't have any type of grasp of the fact that American needs to do a fundamental rethink of the idea that a high school education or less and early and lush retirements and medical care can go hand in hand in today's global economy.
Instead of having a modern vision that can provide a better standard of living for average Americans, the Democrats just push through the UAW mentality of strike and demand because somehow they are "entitled". Never does the idea of earning the entitlement come into the equation.
Obama could have looked at what government largess brings about in those states like California that practiced the fine art. But, that wouldn't have been wise because it might have raised questions. The Democrats in California didn't raise such questions - nor their leader sent to Washington, Ms. Pelosi.
Sadly, every day the Dems are in office the problem grows greater. This is because while doing the wrong things, time and again, the festering sores wrought by their actions go untreated.
The Dems may know something is wrong, but they are more like doctors in the 1700's that though bleeding a patient would cure the patient's ills. What they are doing is bleeding the economy - and, they think it's the only answer.
How wrong they are!
Do the Democrats and President Obama remind anyone of 17th century doctors? All thought highly of as their time; but, of course in light of modern medicine they would be 'quacks'?
Clearly the stab in the dark attempts to give the economy a transitory boost with the proposed tax cuts and spending are a further indication that the President, his advisors and the Democrats are flailing and really have no idea how to get the economy on a healing path.
They don't know why their policies have failed because the overriding goal was to restore the middle class standards by borrowing and imposing burdens on business. They clearly don't have any type of grasp of the fact that American needs to do a fundamental rethink of the idea that a high school education or less and early and lush retirements and medical care can go hand in hand in today's global economy.
Instead of having a modern vision that can provide a better standard of living for average Americans, the Democrats just push through the UAW mentality of strike and demand because somehow they are "entitled". Never does the idea of earning the entitlement come into the equation.
Obama could have looked at what government largess brings about in those states like California that practiced the fine art. But, that wouldn't have been wise because it might have raised questions. The Democrats in California didn't raise such questions - nor their leader sent to Washington, Ms. Pelosi.
Sadly, every day the Dems are in office the problem grows greater. This is because while doing the wrong things, time and again, the festering sores wrought by their actions go untreated.
The Dems may know something is wrong, but they are more like doctors in the 1700's that though bleeding a patient would cure the patient's ills. What they are doing is bleeding the economy - and, they think it's the only answer.
How wrong they are!
Saturday, September 4, 2010
Wall Street Journal: State of the Economy Can more government stimulus lower the nation's unemployment rate?
IS THIS A DUMB QUESTION OR WHAT?: Wall Street Journal: State of the Economy Can more government stimulus lower the nation's unemployment rate?: "- Sent using Google Toolbar"
Why ask about more stimulus without looking at the causes of the problem first?
Each government policy, directive, regulation, etc. might be put on the table with the question, "Does it encourage investors and/or businesses to hire, start, expand a business - in the US?
Clearly the answer to almost everything touched by Obama and Pelosi would get a "no" answer.
As seen with Obamacare, it sounds nice but raises the costs of employment, investment and wealth creation. The list doesn't end quickly.
The US can't go back to the UAW world of the 1950's but clearly that's where the current administration and Democrats think they can take the economy.
Those individual states with the most Democratic-oriented policies, and especially those that have had them in place for a long time, clearly lead in all the wrong things - i.e. higher average unemployment, job creation and budget deficits (plus higher taxes).
It would seem to an unbiased observer that current policies are anathema to a job creating solution.
Why ask about more stimulus without looking at the causes of the problem first?
Each government policy, directive, regulation, etc. might be put on the table with the question, "Does it encourage investors and/or businesses to hire, start, expand a business - in the US?
Clearly the answer to almost everything touched by Obama and Pelosi would get a "no" answer.
As seen with Obamacare, it sounds nice but raises the costs of employment, investment and wealth creation. The list doesn't end quickly.
The US can't go back to the UAW world of the 1950's but clearly that's where the current administration and Democrats think they can take the economy.
Those individual states with the most Democratic-oriented policies, and especially those that have had them in place for a long time, clearly lead in all the wrong things - i.e. higher average unemployment, job creation and budget deficits (plus higher taxes).
It would seem to an unbiased observer that current policies are anathema to a job creating solution.
Friday, September 3, 2010
It's Not Just the Jobs. It's the Jobs Machine. - WSJ.com
It's Not Just the Jobs. Q&A: It's the Jobs Machine. - WSJ.com:
Question:
AP asks: I think that CEO pay at over 400 times the salary of a worker is a job destroyer.
Answer:
"Clearly you don't believe in supply and demand.
What you are also missing and is the big question that should be in everyone's mind is:
If interest rates are so low, so many people need jobs, there are so many great ideas for products, services, etc. (read any tech or science journal; witness the commercial success of the iPad), then why aren't businesses being set up?
Likewise, rather than rant at overpaid (your judgment) executives and bankers, ask why there isn't more competition for these jobs and salaries?
Clearly government and unions and taxes are at work here - because, in other parts of the world this growth of jobs, businesses and technologies is advancing (see China, Singapore, etc.).
You may not like the effects that you see (high wage differentials), but you should be looking at causes. Why aren't more people seeking these jobs or trying to compete for them?
- Sent using Google Toolbar"
Question:
AP asks: I think that CEO pay at over 400 times the salary of a worker is a job destroyer.
Answer:
"Clearly you don't believe in supply and demand.
What you are also missing and is the big question that should be in everyone's mind is:
If interest rates are so low, so many people need jobs, there are so many great ideas for products, services, etc. (read any tech or science journal; witness the commercial success of the iPad), then why aren't businesses being set up?
Likewise, rather than rant at overpaid (your judgment) executives and bankers, ask why there isn't more competition for these jobs and salaries?
Clearly government and unions and taxes are at work here - because, in other parts of the world this growth of jobs, businesses and technologies is advancing (see China, Singapore, etc.).
You may not like the effects that you see (high wage differentials), but you should be looking at causes. Why aren't more people seeking these jobs or trying to compete for them?
- Sent using Google Toolbar"
Thursday, September 2, 2010
It's Not Just the Jobs. It's the Jobs Machine. - WSJ.com
HOBS, SMOBS: It's Not Just the Jobs. It's the Jobs Machine. - WSJ.com: "- Sent using Google Toolbar"
The overall rubric could be to make the economy and the country "business friendly" - which it clearly is not.
Globally, the US needs to recognize that things want to regress to the mean. Thus, if someone is poor and wants to work hard and someone else is (relatively) rich and doesn't want to work hard, then it is likely that the poor person is going to enjoy an improving standard of living and (relatively) the richer person a declining standard of living!
And, guess what? America is seeing this happen and doesn't like it.
But, what does an American union like the UAW say? Damm, let's ..... it. Can we say Ostrich?
And, the public employee unions look to France and have no inhibitions in taxing and underperforming.
Thus, the issue is broadly definable - or, so it would seem. Is the US going to have policies that encourage and reward work, saving, investment, entrepreneurship and global competitiveness or does it want to preserve benefits and policies that are recognized to not be competitive globally.
It's revolting to think that jobs are all equal and pay should be equal. If a job is priced above its value to the employer, then the job won't get done. Minimum wages and extravagant benefits are job destroyers.
The overall rubric could be to make the economy and the country "business friendly" - which it clearly is not.
Globally, the US needs to recognize that things want to regress to the mean. Thus, if someone is poor and wants to work hard and someone else is (relatively) rich and doesn't want to work hard, then it is likely that the poor person is going to enjoy an improving standard of living and (relatively) the richer person a declining standard of living!
And, guess what? America is seeing this happen and doesn't like it.
But, what does an American union like the UAW say? Damm, let's ..... it. Can we say Ostrich?
And, the public employee unions look to France and have no inhibitions in taxing and underperforming.
Thus, the issue is broadly definable - or, so it would seem. Is the US going to have policies that encourage and reward work, saving, investment, entrepreneurship and global competitiveness or does it want to preserve benefits and policies that are recognized to not be competitive globally.
It's revolting to think that jobs are all equal and pay should be equal. If a job is priced above its value to the employer, then the job won't get done. Minimum wages and extravagant benefits are job destroyers.
Wednesday, September 1, 2010
Spain's Zapatero Hopes China Will Increase Holdings of Spanish Bonds - WSJ.com
ENTITLEMENT WITHDRAWAL: Spain's Zapatero Hopes China Will Increase Holdings of Spanish Bonds - WSJ.com: "- Sent using Google Toolbar"
The article's title says it all!
Let China support the weakening of Spain by investing in government (read income transfer programs, retirement programs, uncompetitive work rules, etc.) - all of which only go to further strengthen the competitive advantages of China.
The European and American sense of 'entitlement' to all these benefits is clearly a drug from which recovery is more difficult seemingly than heroin or cocaine.
The article's title says it all!
Let China support the weakening of Spain by investing in government (read income transfer programs, retirement programs, uncompetitive work rules, etc.) - all of which only go to further strengthen the competitive advantages of China.
The European and American sense of 'entitlement' to all these benefits is clearly a drug from which recovery is more difficult seemingly than heroin or cocaine.
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