by Jack Lee
The U.S. dollar slipped against it’s major rivals today following downward revisions of the June – July employment figures. The U.S. economy created 169,000 jobs last month, missing expectations of a 173,000-job gain. The unemployment rate is now around 7.3% an meager imprlovement from 7.4% since last month. And although this percentage appears good, when contrasted against the number of job seekers who have dropped off the polling it really points to a stagnant economy that is being held together by credit. The feds are still pumping $85 billion dollars into the economy every month and we’re not improving. Further evidence says the moment the feds try to scale back this massive bailout the economy is going backwards.
The number of jobs added in June and July were revised lower by a combined 74,000, the Labor Department said.
Barrack Hussein Obama took over the presidency in the 2009 as recession hit. He chose to bet on the Keynesian theory for bailouts, borrowing and quantitative easing to speed our recovery. However, in all this time none of those measures has contributed to a stable, reliable economy. Instead, his economic policy has contributed to the largest debt in our nations history, one that may be impossible to pay off….ever. For the last 4.5 years the nation has been living on mostly credit. The national debt is accruing at the rate of 1.8 billion dollars per day, and that makes us $16,740,560,461,021 in debt or said another way, each citizens share of the debt is now $52,876.23. And you thought Syria was a crisis? Ha!
I am confused by those who look the other way while a gridlocked congress brings the country to it’s knees.
While I have my issues with the present administration and the one before it, never have I seen a congress where one side has vowed to block anything and everything.
It seems to me the statement ” My way or the highway” is a totalitarianism in itself.
Democracy requires compromise. Democracy is not a spectator sport.
I suggest we take a look at how much we spend on the do nothing congress with their free Gov health care, wages & inside trading rights.
Exactly how many days did they work both in DC and at home.
I find it disgusting a senior Senator whom had previously ran for president was playing poker during the Syria briefings.
I am in disbelief Americans have not circled the useless congress which has blocked any and everything for the views of their donors.
Just how much time do they spend looking for money? Why was Norquist ever allowed to speak? He is a lobbyist.
Lobbyists run the country and the people blame a single man.
I can not change who is in the oval office til 2016 but I can take a hard look at those who say “My way or the highway” in congress.
The body that does the majority of spending and never wants to pay their bills.
Those who are complaining could create jobs with a livable wage by producing American products, or anything useful.
I see so much complaining and demand but never solutions except repeating the same ones that have failed us for over 32 years.
The crash of 2008 had many warnings but as the current president believed in the free markets that is basically what we got. Outsourcing and corrupt scams.
How am I suppose to feel now that my son is looking for work as an engineer? Where are the jobs? Why are we allowing companies to hide money and move our jobs overseas?
Well at least the markets see those increases but eventually that bubble will bust. Eventually overseas workers will revolt as well.
I would be more concerned about the forthcoming crash of 2016. We will have a chance to see just how honest the markets are once again.
I share many of your concerns Mr. Miller, including your predictions of another crash. How will the Fed injected market be able to sustain when interest rates make borrowing against ourselves too costly? Answer…it won’t.
There is also the possibility of a college loan bubble made worse by an administration that has spent a bunch of money to encourage kids to go deep into debt for college…and held out the carrot that their debt would be forgiven down the road.
I realize most people have thrown up their hands in disgust with both parties but the gridlock we are experiencing is not for want of the House Republicans making a substantial effort to get the American people working again:
The Senate, run by Democrat Majority Leader Harry Reid, has failed to pass a budget every year, even though he is required by law to do so!
The problem isn’t the parties so much as it is the radical extremist in control of the Democrat Party. One could hardly call a party that has envisioned the government takeover or control of individual choice and industry a party in the American tradition unless you believe that Marx or Mussolini helped to write our Constitution. Consider:
This party seeks control of our children’s minds in federal government schools from preschool through college. Education in this country has ceased to be much more than nan indoctrination camp in many schools and radical leftists are pushing for government to fund preschools and college for all Americans. They want central control…not free thought.
This party wants single payer healthcare and wrote the ACA to discourage private sector participation.
This party has used executive orders and the EPA to control our energy sources, shutting down coal and oil and subsidizing green energy companies before the technology has proven capable to replace coal and oil (It may never have that capacity).
This party took control of college loans in 2009 when they had a super majority in Congress.
The regulatory fix known as Dodd/Frank that was supposed to fix what went wrong in the last crash was written by two of the most culpable Democrats responsible for the crash and according to Forbes represents the “very definition of tyranny”:
The main reason companies are still able to make money is they are expanding into emerging market nations…or they are Starbucks whose customers are still working and blissfully willing and able to pay outrageous prices for a froo froo cup of Joe.
The main engine of our economy has been under extreme duress and that is where the jobs are normally produced. Nothing is being done that would give them the confidence to hire or expand. Obamas so-called incentives offer small business tax breaks only if they are willing to go into debt to buy equipment or to hire people their budgets cannot support! Like you, the owners of these companies see nothing but trouble on the horizon…why would they hire or expand?
My friend it isn’t just President Obama. It is the ideology that drives the leaders in the Democrat Party and the mindset of those who support them. Whether out of ignorance or naivete those who support this brand of Democrats and empower them to strangle freedom, private property, the rule of law, and capitalism in favor of a centralized government Marxist model are the problem.
The latest trick is to convince voters that all politicians are the same. While I agree that we the American people have willingly given them too much power and control, I do not agree that all of them favor an America designed by Marx or Mussolini.
There are moderate Democrats and there are Republicans who still believe in the founding principles that made this nation the envy of the world and inspired people from all over the world to come to our shores for the freedom and property brights we enjoy(ed).
If we want to save our great country we had better pull our heads out and pay attention. Gridlock is not going non in DC What is going on is a concerted effort by a select few to fundamentally transform this nation…and they are winning!