The unemployment rate in the U.S. is now up to 10.2%.
Jobless rate tops 10 pct. for first time since ‘83 – Yahoo! Finance
Archive for the 'Economics' Category
The Obama economy
November 6, 2009The law of unintended consequences
November 6, 2009As a result of the ridiculous cash-for-clunkers program, not only are the taxpayers out several billion dollars, but the average price for low-end used vehicles is now higher. Really helping out the little guy.
TaxingTennessee: Cash for Clunkers was an even bigger disaster
Economics made easy
November 6, 2009A hat tip to Ben Cunningham for pointing toward this column by the great Thomas Sowell. (Rush Limbaugh always says that if he didn’t have his own brain, he would want Antonin Scalia’s. I, on the other hand, would want Thomas Sowell’s.)
1. If we cannot afford to pay for doctors, hospitals and pharmaceutical drugs now, how [...]
Ford profits…
November 2, 2009…and it didn’t even take any bailout money, unlike Government Motors. Imagine that.
Ford, the only Detroit automaker to dodge direct government aid and bankruptcy court, surprised investors with net income of nearly $1 billion in the third quarter and forecast a “solidly profitable” 2011.
Ford surprises with $1B profit; sees profit in ‘11 – Yahoo! News
Baloney
October 31, 2009The Obama administration is claiming that the economic stimulus package, otherwise known as “porkulus,” has saved or created 650,000 jobs. First, there’s no way anyone can know this, and second, we got a report just the other day from the AP showing that the administration has wildly over-inflated its jobs estimate. Finally, given the amount [...]
Different than expected
October 29, 2009I probably should have started doing this months ago, but better late than never I guess.
The mainstream press has a specific template when reporting economic news, and it has been going on for years. Whether it’s better or worse, it’s always different than expected. The media simply cannot report economic news without pointing out something [...]
The recession is officially over
October 29, 2009The U.S. economy grew at an annual rate of 3.5% during the third quarter of 2009. The Obama administration will claim that it was the stimulus package that brought us out, but the private sector grew in spite of porkulus, and not as a result. The recession might have ended even sooner had the Congress [...]
Did I miss something?
October 23, 2009Christina Romer, a member of the Obama administration, confesses that the porkulus bill has already had its biggest impact on economic growth. You have to wonder how long she’s going to keep her job after spilling those beans.
A top White House economist says spending from the $787 billion economic stimulus has already had its biggest [...]
The Obama economy
October 3, 2009Unemployment continues to rise to levels not seen in more than two decades, yet Obama just wasted his time on a failed attempt to bring the Olympics to Chicago in 2016. President Obama could cut this recession short by cutting taxes (personal, corporate, and capital gains) and actively getting government out of our lives. Instead, he is [...]
Stimulus bill continues to pay dividends
September 4, 2009Vice President Joe Biden tells us that “The Recovery Act is doing more, faster and more efficiently and more effectively than most people expected.”
He’s absolutely right. I don’t think anyone thought the unemployment rate would soar as quickly as it has during the first 8 months of the Obama presidency.
Jobless rate at 9.7 pct.; 216K [...]
Today’s Lebanon Democrat column: “It always pays to be good at math”
August 4, 2009I’ve always had the hunch that those who are good at math tend to do better in the professional world than those who aren’t, and a recent survey by the National Association of Colleges and Employers (NACE) supports just that (CNNMoney.com, July 24, 2009).
Granted, a high aptitude for math doesn’t automatically punch your ticket, but the 15 [...]
Analyzing cap-and-tax
July 4, 2009After being out for several days, I’m way behind on my Rush Limbaugh podcasts, and am just now listening to last Friday’s show. During the second hour, the Maha Rushie did a fantastic analysis of the job-killing effects of cap-and-tax, which, oddly, the Democrats are pitching as a job-creation bill. Yeah, the same way the [...]
Unemployment numbers continue to rise
July 3, 2009Despite the stimulus package passed by Democrats earlier this year that was supposed to create millions of new jobs, the unemployment rate is now 9.5% — higher than its has been since 1983. It’s significantly higher than at any time under President Bush, when we supposedly had the worst economy since the Great Depression. If [...]
Media changes its tune on economic reporting
June 6, 2009The headline says it all. The press sees hope in the current recession. Trouble is, unemployment is 9.4%, which is a lot higher than it was under George W. Bush. Back then, unemployment ran 5-6%, the economy was growing, and the federal budget deficit was shrinking. Yet the media consistently reported how bad and hopeless the [...]
That explains it
May 29, 2009We were doing so good there for a while, but the price of oil and gasoline have been creeping back up the last few months. Demand is low, supply is high, so that should mean lower prices. But the plentiful supply simply isn’t being shipped to market.
The economic recovery Naimi so optimistically predicts would certainly [...]
Well, that’s one way to spark the housing market
March 9, 2009The upside to the housing crisis is that the dream of owning a home is suddenly a lot more attainable.
Welcome to Landlord Nation, where foreclosure notices are plentiful and for-sale signs offer at least 1,800 homes for under $10,000 that once were worth at least 10 times more.
In extreme cases, homes are on sale for [...]
Atlas is shrugging
March 6, 2009Michelle Malkin highlights what she calls the letter of the day. It begins:
I have employed about 50 people during the last 20 years, and my family’s taxable income is about $300,000. In order to avoid paying a higher percentage of taxes on all of my income, I will decrease output, lay off some staff and [...]
The Obama stock market
March 2, 2009Unlike liberals, who wanted a sour economy during the Bush presidency so they could blame it on Bush, I actually am not enjoying the recession, nor especially the stock market collapse, since it hurts me personally. Does President Obama care that Americans are losing their jobs and private retirement accounts? Not hardly. Every American who [...]
A taxi ride to socialism
February 26, 2009A friend of mine sent me the link to a blog post by Glenn Beck, where he compares a New York City taxi ride to the road to socialism. I don’t read Beck’s blog normally, and haven’t listened to his radio show in quite some time, although he is very good at what he does. I [...]
