Wednesday, February 12, 2014
Demonomics
This week the big story was the tag end of the old JournoList gang trying to spin gold out of the dross of the Congressional Budget Report. The CBO report projected that by 2021 under ObamaCare more than 2 million full-time workers will find it financially advisable to quit work entirely or switch to part-time jobs in order to get more subsidies for healthcare insurance. To most of us who studied real economics or just paid attention to human nature, subsidizing indolence means you'll get more of it.
But to the airheads on the left and their JournoList spinmasters -- the very people who believed in their hearts that young, healthy workers would willingly pay more for their health insurance to subsidize older, sicker Americans and learned nothing from the failure of that prediction , this devastating CBO report spelled out a wonderful new world of possibilities for American workers at the bottom rungs.
1. Job Lock
But to the airheads on the left and their JournoList spinmasters -- the very people who believed in their hearts that young, healthy workers would willingly pay more for their health insurance to subsidize older, sicker Americans and learned nothing from the failure of that prediction , this devastating CBO report spelled out a wonderful new world of possibilities for American workers at the bottom rungs.
1. Job Lock
Working their dreidels overtime, the gang argued that the CBO report was going to end job lock -- long a Republican goal -- but as "Ignatz" posted on Just One Minute: "I believe the Republican idea was to decouple insurance from employment, not decouple the employee from employment"
Via: American Thinker
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Tuesday, February 11, 2014
Barack’s Assault on Work Merely His Latest Stupid Insult Against Common Sense
That Barack has unbiblical and even anti-Christian ideals has been noted since his advent. But this recent broadside against work is a new low. For it is in the Garden that God commands Adam and Eve to be productive. But to reject this is to collectively turn our backs upon wisdom, common sense, experience, and revealed wisdom.
So what is Barack up to in his 2-term attack upon productivity? From a Marxist perspective, there are a number of reasons to oppose full-employment. First, since the US has a capitalist system, this must be overturned. Second, since capitalism is more highly productive than socialism, it must be shut down so as not to make Marxism suffer by comparison. Third, if Marxist revolution is needed to create a socialist utopia, then this will more likely happen if more people are out of work. Fourth, since unemployed people are more psychologically unwell, the more joblessness we have, the more dissatisfied will be Americans with the current system, and therefore more supportive of revolution.
Monday, February 10, 2014
Letters to the Editor: Obamacare may well be a disaster
Dear Editor,
"A democracy cannot exist as a permanent form of government. It can only exist until the people discover they can vote themselves largess out of the public treasury. From that moment on, the majority votes for the candidate promising the most benefits from the public treasury, with the result that democracy always collapses over a loose fiscal policy; to be followed by a dictatorship."
— Alexander Tyler Fraser
Politicians are judged based on their ability to sell lunacy as public policy. Therefore, aspiring politicians must master the art of marketing, like the astute Barack Obama. Even if one does not revere Mr Obama, we must admire his skills has a marketer. Obama has managed to garner public support for the Affordable Care Act (ObamaCare), which is, in essence, a bad policy. And, instead of engaging in a serious debate with his opposition colleagues about the implications of Obamacare, he is trying to score political points by lambasting them and, unfortunately, most people are succumbing to his antics.
It is not surprising that Republicans are being blamed for the government shutdown, although Obama refused to compromise. House Republicans voted to fund the entire government except Obamacare, and the president refused to budge, citing the need to protect a programme that will redound to the benefit of all Americans. But, contrary to the views of the mainstream media and Democrats, Obamacare may be a disaster. Obamacare will require firms with over 50 full-time employees to provide health coverage or pay a fine of $2,000-$3,000 per full-time worker. This has already created jitters in the private sector.
In a recent CNBC survey, 42 per cent of small businesses indicated that they have frozen hiring because of Obamacare; while 38 per cent have scaled down expansion plans, and 18 per cent have reduced working hours. Based on the Central Budget Office's research, the Affordable Health Care Act will result in 800,000 fewer full-time jobs. In addition, the myriad taxes and regulations introduced by this new policy will serve as a disincentive to the private sector.
Like most salesmen, Mr Obama has the potential to sell sloppy products like the Affordable Care Act, hence voters should become more discerning in order to avoid future disasters.
Lipton Matthews
Sunday, February 9, 2014
Oregon has become the new California
Imagine if a grizzly bear and a beaver squared off in a cage match. It would be a decided mismatch in the bear’s favor.
That’s how interstate competition used to be between California – which prominently features a bear on its state flag – and Oregon – which boasts a two-sided flag, the backside on which appears a beaver.
But the script has been flipped, according to United Van Lines’ annual migration study, which tracked nearly 130,000 interstate moves in 2013. While California continues to lose residents to other states, Oregon is now the nation’s top moving destination.
Oregon boasts much of the same appeal as California, UCLA economist Michael Stoll told CNNMoney, including mild winters, open spaces, and local arts and entertainment scenes. But the Beaver State does not have California’s sky-high cost of living.
For instance, the median price for a single-family home in greater Portland is $285,000, according to Zillow Real Estate Market Reports. In greater San Diego, it’s $468,000; Los Angeles, $522,500; San Francisco, $617,500; and San Jose, $722,500.
Meanwhile, Oregon’s economy is stronger than California’s by several key measures:
- The Beaver State’s GDP grew by 3.9 percent in 2012, according to the U.S. Bureau of Economic Analysis (BEA), which ranked third among the 50 states. The Golden State’s GDP increased 3.5 percent, ranking fifth.
- Oregon’s nonfarm employment grew in 2013 by 2.3 percent, according to the U.S. Bureau of Labor Statistics, tied for fourth in the country. California’s nonfarm employment increased 1.6 percent, tied for 16th in the country.
- Oregon’s personal disposable income grew by 10.1 percent between 2006 and 2011, according to BEA. California’s grew by 6.3 percent over the same span.
Finally, the Beaver State’s tax regime is less onerous than here in the Golden State.
Teen Unemployment: 20.7%, More Than Three Times the National Average
(CNSNews.com) -- The teen unemployment rate went up in January to 20.7% -- from 20.2% in December-- and is now more than three times the national unemployment rate of 6.6%, according to the latest data from the Bureau of Labor Statistics (BLS).
The BLS numbers show there were 1,140,000 people ages 16-19 unemployed in December. For January, that number was 1,147,000 -- an increase of 0.6%.
The teen unemployment rate (seasonally adjusted) has been in the 20s range (high and low) since October 2008. It hit a high of 27.3% in October 2010.
Former IRS Chief: Democratic Senator Made Us Target Tea Party
The letter also details evidence that IRS and Treasury officials believed that the Supreme Court had erred in its Citizens United decision and, instead of respecting the authority of the Court, wrongly took it upon themselves to offset the impact of the law with IRS.
WHY WE NEED INTELLIGENCE AGENCIES
Peggy Noonan writes today on her "obsession"—how dependent our society is on electricity and how vulnerable the grid is to attack. This week the Journal reported on a highly-professional attack carried out on a California power station last year. Ms. Noonan writes that preventing such attacks isn't a Washington priority. "You always want to think your government is on it. You want to think they see what you see. But really, they're never on it. They always have to be pushed." We would add that with so many potential targets in the U.S., the best defense is a competent intelligence effort that can identify imminent threats and does not respect the imaginary privacy rights of foreign malefactors.
Peggy Noonan writes today on her "obsession"—how dependent our society is on electricity and how vulnerable the grid is to attack. This week the Journal reported on a highly-professional attack carried out on a California power station last year. Ms. Noonan writes that preventing such attacks isn't a Washington priority. "You always want to think your government is on it. You want to think they see what you see. But really, they're never on it. They always have to be pushed." We would add that with so many potential targets in the U.S., the best defense is a competent intelligence effort that can identify imminent threats and does not respect the imaginary privacy rights of foreign malefactors.
WHY TODAY'S JOBS REPORT IS IMPORTANT
After a series of mixed readings on the economy, this morning's unemployment report will get especially close attention to see if GDP growth at the end of last year can be sustained.
After a series of mixed readings on the economy, this morning's unemployment report will get especially close attention to see if GDP growth at the end of last year can be sustained.
APPLE BUYS ITSELF
Apple CEO Tim Cook reports that the company has been aggressively buying back its own shares, which is sure to please activist investor Carl Icahn. And buybacks are certainly a respectable way to return cash to shareholders. But we wonder if it means the company sees few attractive areas to invest in growth, either inside or outside the tech giant.
Apple CEO Tim Cook reports that the company has been aggressively buying back its own shares, which is sure to please activist investor Carl Icahn. And buybacks are certainly a respectable way to return cash to shareholders. But we wonder if it means the company sees few attractive areas to invest in growth, either inside or outside the tech giant.
Via: Wall Street JournaL
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