Households On Foodstamps Rise To New Record
This is a dismal report, and it’s not going to be getting better any time soon, so long as Wile E. Obama and the ACME Economic Destruction Co. are busy raising taxes and implementing new business-crushing regulations. While hardly presented by the mainstream media with the same panache dedicated to the monthly ARIMA-X-12 seasonally-adjusted, climate-affected, [...]
Um, Michelle, We are NOT “in the Midst of a Huge Recovery”
Michelle Obama did an interview with a DC hip-hip station the other day, and when asked the question about “what the state of the union is right now”, she told the DJ we’re in the midst of a huge recovery. As the chart nearby shows, Reagan’s recovery was huge. Obama’s isn’t even average. A Washington, [...]
New T-Shirt Commemorates Honest Joe’s “Middle Class Has Been Buried” Comment
Commemorating Joe Biden’s admission of the Obama administration’s handling of the economy: The middle class “has been buried the last four years.” Get it now at MittRomney.com
Joe Biden on the Campaign Trail: “The Middle Class Have Been Buried the Last 4 Years”
Um, who you campaignin’ for, Joe?
Unexpectedly, Again: US Consumer Confidence Tumbles to 9-Month Low
I love how every month another index or market indicator does poorly, it’s “unexpected.” Why? Is there anything happening in the economy that would lead these prognosticators to think that things are getting better? Why are they continually wrong about these predictions? U.S. consumer confidence unexpectedly weakened in August to its lowest in nine months [...]
“It Worked” – Unemployment Rises to 8.3%
In a recent campaign speech (does he give any other kind?), Wile E. Obama, President of the ACME Economic Destruction Co., said his economic plan “worked.” We’ve now had 41 consecutive months of unemployment over 8%, the longest stretch on record: The U.S. economy followed up a weak second quarter by creating more jobs than [...]
Through Rose-Colored Glasses: “The Private Sector is Doing Fine” – It’s Leviathan That We Need to Grow
Can he really be that detached from reality? We’ve had 8+% unemployment for over three years, and business are reluctant to hire new workers because of the uncertainty about tax hikes and out-of-control regulatory agencies. Fear not, knuckle-draggers and little people; the Anointed One says all is well, and it’s really the GOVERNMENT that needs [...]
Hopenchange: Number Working Past Age 65 at All Time High
With the economy (and my retirement account) being in the state it’s in, I don’t harbor any illusions about retiring at age 65. I’ve read too many stories about people who die soon after they retire. The latest Labor Department report shows a record number of people working past age 65. I don’t think this [...]
Recovery? What Recovery? GDP Plunges to Pitiful 2.2%
The first sentence of Jammie Wearing Fool’s post has the salient question: Can we still blame Bush or has the statute of limitations set in yet? U.S. economic growth cooled in the first quarter as businesses cut back on investment and restocked shelves at a moderate pace, but stronger demand for automobiles softened the blow. [...]
Speaking of Worthlessness, and Doing Nothing: Government Should Adopt this Strategy for Solving our Economic Woes
In his syndicated column, Walter Williams writes about how economists that are any good are likely going to be perceived as uncompassionate hard-asses. Looking at reality from a practical standpoint, economists don’t have much use for phrases like “affordable housing and health care”, or sentimental musings like “if we can save one life, then (the [...]
Durable Goods Orders Drop is Largest in 3 Years; Petulant Boy-King Still in “Economic Recovery” Bubble
Orders for durable goods, one indicator of the strength of the economy, suffered their biggest drop in three years. New orders for U.S. manufactured goods fell in January by the most in three years as demand fell across the board from machinery to aircraft, suggesting the economy started the year on weaker footing than expected. [...]
The Austerity Myth: Cuts in Government Spending are Slowing Down the Economy
You may have heard this claim from various liberals and fans of Keynesian stimulus – the reason our economy continues to slow is cuts have been made in the federal budget, and that slowdown in spending is causing a drag on employment and other factors. John Merline at Investors.com explains how that couldn’t be true: [...]
Hmmmm. Why Am I NOT Surprised? ACORN Involved in “Occupy Wall Street” Protests
I’m kind of mystified by the whole “Occupy Wall Street” thing. I’m not sure what a bunch of smelly hippie wanna-bes think they going to accomplish by standing around the street in one of our major cities, and chanting and carrying signs with all sorts of idiotic slogans. See the picture below for an example [...]
What’s an Even Better Investment Than Gold? Guns.
Bill Gunderson at Seeking Alpha has run the numbers, and gunmaker Sturm Ruger would have been a better investment than gold over the last five years. All this uncertainty introduced by The Petulant Boy-King Obama has people thinking lots about the security of gold, and of a nice .45 auto. Scared investors have been flocking [...]
The Great Recession vs. The Great Depression – Thankfully, No Contest – Yet.
No matter how bad things seem lately, and how the lamestream media has talked up the severity of our economic downturn, it’s nothing compared to the big one. Hopefully, we can turn the corner before we get too much closer to the big one. (H/T to The Big Picture)
Facebook
Twitter
LinkedIn
FourSquare
Technorati
RSS
Flickr
