Archive for the ‘economics’ Category

An important fact about the dems "stimulus" bill

January 28, 2009

Harvard economics professor Greg Mankiw points out that over half the spending provided (59%) by the stimulus bill occurs after 2010! Only 8% occurs in 2009 and 33% in 2010.

Senator Chuck Schumer (democratHCI) was on FNS stating that government spending put much needed cash into the economy faster than tax cuts. Not if the government hangs onto most of the money for two years! A tax cut would put money into taxpayers hands this year!

The truth of the matter is that the democrats are using the current fiscal crisis (thank you Barney Frank and Chris Dodd) not to address the problem, but to shove through their agenda and private pork projects at the expense of the American people.

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Subprime Disaster’s High-Value Targets: The Deck

October 22, 2008

The Voice my Head is producing a new deck of cards based on the Iraq War classic.
This time, it’s the folks who brought you the subprime disaster.
So far he has

HT to AoSHQ

Bill Clinton knows the truth

October 1, 2008

Former President Bill Clinton is a smart guy. Pay attention to what he is saying in this video.

Sweden gets it

September 29, 2008

They are cutting taxes across the board, including business taxes, to promote growth.

Let us look at the roots of our current crisis.

September 26, 2008

It’s set to music for those of you with short attention spans.

Kyoto chickens are coming home to roost in the EU.

September 23, 2008

By way of AoSHQ is the story on how EU businesses are not happy with the restrictions placed on them by the Kyoto Protocols.

Well, now the chickens have come home to roost. European business leaders are threatening to take their businesses somewhere else where the environmental restrictions are not so damaging. They claim that the new carbon emissions offset programs amount to a “tax” (which they are, the EU just didn’t want to call it that) and that the restrictions will cost “44 billion” a year in the next seven years.

China and India have no such restrictions and are exempt under the Kyoto treaty. Germany and Italy (both with some of the highest unemployment in Europe) are starting to wonder if these EU environmental demands shouldn’t be scrapped while the head of the EU is confident that Sarkozy, with his environmental revolution campaign promise, will help ram it through the EU council.

Well, no shit Sherlock…

July 5, 2008

The Guardian has leaked a “secret” World Bank report that breaks the news to the Illuminated Gnomes that turning food stocks into fuel caused the price of food to go up.

Gee, ya think? Corn based ethanol has long been called “Liquid Pork” and has been pushed by politicians who are owned and operated by the corn lobby, like Barak Obama.

Non food stock sources, like switch grass, have been pushed aside by those corn fed politicians. Interestingly enough, NPR did mention one politician who has pushed for the use of switch grass.

Obama’s financial plan to ruin America

April 21, 2008

From Kudlow’s NRO blog:

Look, here’s the deal: Obama bungled the tax question, big time. Period. End of sentence. End of story. To my liberal friends out there all I can say is: Get over it. Your guy has a very poor grasp of basic economic principles.

Obama’s real agenda is a liberal-left ideology that places income redistribution above economic growth. That’s his real message. And looking at the results of presidential elections over the past three decades, Carter, Mondale, Dukakis, Gore, and Kerry all lost with a similar message. Bill Clinton? He was a growth Democrat. So he won twice. But Obama is aligning himself with the Democratic losers. And that will make him a loser as well.

Compare and Contrast

April 10, 2008

By way of NRO’s The Corner
Democrats on the Economy in 1996:

“Our economy is the healthiest it has been in three decades.” (President Bill Clinton, State of the Union Address, January 23, 1996)

Democrats on the Economy in 2008:

“The bottom line is that this administration is the owner of the worst jobs record since Herbert Hoover.” (Senator Charles Schumer, Press Release, March 7, 2008)

Key Labor Market Statistics in 1996 and 2008


March 1996 March 2008
1. U.S. Unemployment Rate 5.5% 5.1%
2. Number of Long-Term Unemployed 1.33 million 1.28 million
3. Average Weeks Unemployed 17.3 weeks 16.2 weeks
4. Median Weeks Unemployed 8.3 weeks 8.1 weeks
5. Not in Labor Force because
discouraged over job prospects 451,000 401,000
6. Democrats calling for Extended
Unemployment Benefits? No Yes
7. President’s Party Affiliation Democrat Republican

Comparing Economies

April 2, 2008

John Lott looks at the current economy and that of the 90s.
An interesting study in actual numbers and how the MSM presents them.

Gas prices are going up. The economy is slowing. Talk of recession is seemingly everywhere. While the majority of people rate their personal finances positively, consumer confidence in the economy has plunged to a 16 year low, well below what it was during the last year of the Clinton administration when we were in a recession.

A Nexis search on news stories during the three-month period from July 2000 through September 2000 using the keywords “economy recession US” produces 1,388. By contrast, the same search over just the last month finds 3,166. Or, even more telling, take the three months from July through September last year, when the GDP was growing at a phenomenal 4.9 percent. The same type of Google search shows 2,475 news stories.

Over 78 percent more negative news stories discussed a recession when the economy under a Republican was soaring than occurred under a Democrat when the economy was shrinking.

A little perspective on the economy would be helpful. The average unemployment rate during President Clinton was 5.2 percent. The average under President George W. Bush is just slightly below 5.2. The current unemployment rate is 4.8 percent, almost an entire half a percentage point lower than these averages.

The average inflation rate under Clinton was 2.6 percent, under Bush it is 2.7 percent. Indeed, one has to go back to the Kennedy administration to find a lower average rate. True the inflation rate over the last year has gone up to 4 percent, but that is still lower than the average inflation rate under all the presidents from Nixon through Bush’s father.

Despite all that, this last week, Barack Obama claimed “As most experts know, our economy is in a recession.” Hillary Clinton made similar claims last fall. Yet, as any economist knows, a recession is two consecutive quarters of negative growth, and we haven’t even had one single quarter of negative growth reported. The economy slowed down significantly during the end of last year, but that was after a sizzling annual GDP growth rate of 4.9 percent in the third quarter.

The media’s focus on the negative side of everything surely helps explain people’s pessimism. In a recent interview Fox’s Neil Cavuto claimed this bias “is all part of the media’s plan to get a Democrat in the White House.”

Indeed, research has indicated that media bias is real. Kevin Hassett and I looked at 12,620 newspaper and wire service headlines from 1985 through 2004 for stories on the release of official government releasing numbers on the unemployment rate, number of people employed, gross domestic product (GDP), retail sales, and durable goods.

Even after accounting for how well the economy was doing (e.g., what the unemployment rate was and whether it was going up or down), there was still a big difference in how positive or negative the headlines were. Democratic presidents got about 15 percentage points more positive headlines than Republicans for the same economic news.

Last fall, I took a graduate level macro economics course. The book was written by a Clinton economic adviser. Using that book as guide, most of the Presidency of George W. Bush, the economy was smoking hot, with unemployment, inflation and GDP growth numbers that Bubba Clinton would had someone killed for.

Even now, the MSM and the democrats are preaching doom and gloom. The explosive growth in the Dow yesterday is something they would rather not think about. It disrupts their negative world view, as well as their chance to seize power in November.