Robert Reich telling off the mental midget
Someone’s sick and tired of Obummer whining about the recession he inherited:
Unemployment for June is stuck at 8.2 percent, the same as in May. And only 80,000 new jobs were added.
Remember, 125,000 news jobs are needed just to keep up with the increase in the population of Americans who need jobs. That means the jobs situation continues to worsen.
The average of 75,000 new jobs created in April, May and June contrasts sharply with the 226,000 new jobs created in January, February and March.
In Ohio yesterday, Obama reiterated that he had inherited the worst economy since the Great Depression. That’s true. But the excuse is wearing thin. It’s his economy now, and most voters don’t care what he inherited.
First drops have arrived (8:45) just before the fireworks begin. But it falls only on the just -I’m on my deck and shall retreat indoors should it intensify.
The Indian Harbor, our 250-passenger ferry serving Island Beach was built in 1937 and seems destined for retirement soon. It was out of service for weeks while transmission parts were found and even manufactured – 1937 transmission parts aren’t a stock item – and when it was returned to service this week it broke again. No one’s to blame here, not the shop that made the repairs nor our town guys who fight to keep this old ship alive, but it seems likely that we’re wasting money trying to defy old age and obsolescence. Used ferries seem to run $500,000 – $2,000,000 but if this web site’s to be relied on, most seem to be located in Malaysia. Hey, maybe FWIW readers could volunteer to bring one back?
A client once told me, just before he lost his fleet of cruise ships to his creditors, that “it’s very easy to buy a boat, Chris – it’s very difficult to sell one”. He was of course proved right and I’m sure his difficulties weren’t unique. I bet we could find a good deal on a ferry here in the US and effect an economy instead of custom crafting transmission and engine parts for a boat dating back to the Roosevelt administration.
“I worry that the Middletons really do believe they’re royalty” Something about the lady’s family sitting in the Royal Box at Wimbledon. I thought the family of the wife of Prince Whatshisname would now be considered family of a sort and free to sit with the swells at a tennis game but apparently not. In the meantime, Kate’s experiencing her own difficulties in that soggy isle – can’t find a good dentist.
Poster girl for British health services
I think I blew it
Obama lashes out at Romney’s position on abortion. Leave alone Obama’s deliberate lie about that position and focus on what this says about panic at the White House. The only people who feel passionately enough about a woman’s untrammeled “right” to scrape a foetus from her womb, enough to ignore an economy in shambles and vote the Community Organizer back in for another round of amateurism, are those who already comprise what was once considered Obama’s base – appealing to them now suggests that Obama’s handlers fear that he’s losing even their vote.</p
Eric Pickles – no kidding
Pickups down to once a fortnight. Well, the rats of all species must be cheering.
And at the risk of offending Three Dollar Bill, another Muslim terrorist has been nabbed at the Olympic Park, for the fifth time! I suppose “catch and release” is the new counter-terrorism policy imposed on MI5 by the English equivalent of our own Democrats.
How’s that hopey changey thing working out for us? Not so well.
Zero Hedge: With the US presidential election just 4 months away, focus on tier 1 economic data will become acute, as will headlines blasting top-line data without much, if any, underlying “between the lines”analysis. Which is why we have decided to put together a template of key data series that in our opinion best capture the dramatic shift in the labor composition of the US welfare state under the Obama administration, starting with January 2009. Here are the facts:
- Total Nonfarm Payrolls have decreased by -1.3 million from December 2008 (134,379K) to June 2012 (133,088); Source: St. Louis Fed
- Full-time jobs based on the Household Survey, have decreased by 2.5 million from 117,039K to 114,573K; Source: Table A.9, BLS
- Parti-time jobs based on the Household Survey, have increased by 1.6 million from 26,3187 to 27,894K; Source: Table A.9, BLS
- Foodstamps recipients have increased by 14.6 million from 31.567 million to 46,187 (as of April 2012); Source: USDA
- Disability recipients have increased by 1.3 million from 7.427 million to 8.733 million;Source: Social Security Administration
And that, in a nutshell, is how the economy has performed over the past 42 months.
Russian bombers violate US airspace second time in two weeks.
Two Russian strategic nuclear bombers entered the U.S. air defense zone near the Pacific coast on Wednesday and were met by U.S. interceptor jets, defense officials told the Free Beacon.
It was the second time Moscow dispatched nuclear-capable bombers into the 200-mile zone surrounding U.S. territory in the past two weeks.
The bomber flights near the Pacific and earlier flights near Alaska appear to be signs Moscow is practicing the targeting of its long-range air-launched cruise missiles on two strategic missile defense sites, one at Fort Greely, Alaska and a second site at Vandenberg Air Force Base, Calif.
The U.S. defense official called the latest Bear H incident near the U.S. West Coast “Putin’s Fourth of July Bear greeting to Obama.”
Retired Air Force Lt. Gen. Thomas McInerney, a former Alaska commander for the North American Aerospace Defense Command, said the latest Bear H intrusion appears to be Russian military testing.
“It’s becoming very obvious that Putin is testing Obama and his national security team,” McInerney told the Free Beacon. “These long-range aviation excursions are duplicating exercises I experienced during the height of the Cold War when I command the Alaska NORAD region.
McInerney said the Bear H flights are an effort by the Russians to challenge U.S. resolve, something he noted is “somewhat surprising as Obama is about to make a unilateral reduction of our nuclear forces as well as major reductions in our air defense forces.”
Nothing surprising about that to me.
Jobs’ll be comin’ round the mountain when they come, they’ll be coming round the mountain when they come, they’ll be … of shit, let’s forget the whole thing.
For thirtieth month, Obama urges his supporters to pay no attention to monthly jobs report.
Because they aren’t even buying it, let alone holding it for you. They will, however, charge you for saying that they’re doing that, so at least you’ll have that warm feeling.
Unrelated, but related nonetheless, Money market funds, now that interest rates are zero or below, are refusing new deposits.
Is this the sound of a global banking system crumbling?