Employers add no net jobs in Aug.; rate unchanged
"WASHINGTON (AP) -- Employers stopped adding jobs in August, an alarming setback for an economy that has struggled to grow and might be at risk of another recession.
The government also reported that the unemployment rate remained at 9.1 percent. It was the weakest jobs report since September 2010."
No more jobs. Blunt and to the point. Inflation and rising living costs. And the "analysts" say there is a RISK of ANOTHER recession?
The previous recession never left! We are, and have been, wallowing in the same economic sinkhole that started three years ago. It didn't end. It still recedes. And now, with no more jobs, things can and will get worse. Frightening, but yes, things can and will get worse.
Even those lucky enough to be holding jobs are suffering. Wages are DOWN, inflation is UP. The working folks' income simply is not growing at the same pace, which means their salaries are buying less and less, day after day.
Part of the rising costs appears to be a desparate last-ditch effort by State and Fed tax collectors. Higher costs means higher tax revenue which is a percentage of the selling cost, ergo it is in their best interest to allow inflation and rising costs. A short sighted and foolish economic choice.
Friday, September 2, 2011
Friday, July 8, 2011
Prez Obama says uncertainty over the debt ceiling has hindered hiring
PressDemocrat.com The Press-Democrat Santa Rosa, CA:
"Obama: Still differences on debt, new talks Sunday
By JIM KUHNHENN
Associated Press
WASHINGTON (AP) -- Beset by a weak jobs report, President Barack Obama on Friday called for swift action by Congress to raise the nation's borrowing limit, saying the uncertainty over the debt ceiling has hindered hiring in the private sector."
So now the blame for a failed economy and loss of jobs is ... because we are not in more debt???
Here's a tip for Congress and the Prez, add it to the book Letters to President Obama: Americans Share Their Hopes and Dreams with the First African-American President
Borrowing money does NOT create jobs. There is no such thing as an "entitlement", every American is "entitled" to work to earn what they want/deserve. Expecting the Government to hand you everything, from food to mortgage subsidies to medical care is as un-American as things can get. This country was built on hard work - blood, sweat and tears; to wax philosophically.
Instead of increasing the benefits to encourage unemployment - a more useful approach would be to help small businesses survive. The bulk of hiring is done by small business - not the mega corporations or government agencies. This is a fact, look it up. Small businesses should receive INCENTIVES to hire, not receive PENALTIES when they create jobs. Currently, the byzantine tax laws make it extremely difficult to manage a large payroll without having to hire an outside (expensive) accounting firm. Beside the direct tax LIABILITY of EVERY employee in a company, the new penalties include mandatory medical insurance when 50 or more employees are hired. It makes no sense for a small firm that has just under 50 employees to even consider expanding and hiring more workers - since they will be severely penalized if they try to create more jobs.
Providing SMALL businesses with tax breaks IF THEY CREATE NEW JOBS will solve most, if not all, the current problems. Stop: read that again. SMALL business, not mega WAL-corporations. Tax breaks = sensible taxation; currently small companies are taxed TWICE, the business entity pays income tax and the owners pay tax again when they draw any income from their own company, where many owners put in upto 80 work-hours a week. A disincentive to even operate a business, yet many do, and even after being hammered with ridiculous regulations and absurd taxes; some small businesses may even prosper. The current logic originating from the White House is to tax small business out of business. Putting them out of business will REDUCE tax revenue, the killing of the proverbial golden goose. Reducing the tax burden of small companies will NOT reduce any tax income for Uncle Sam - they are HIRING workers, workers who will get paychecks and generate payroll taxes. The newly hired will stop draining the social programs, thereby REDUCING the deficit. Yes, reducing taxes WILL reduce the deficit. It is as simple as that.
Put America to work, don't worry so much about the loss of entitlements. Social programs may take a hit today, but putting the effort and tax breaks into CREATING JOBS will bring those benefits back tomorrow, and we won't even have to borrow $14 Trillion to pay for them.
And for those who have not already read it, Animal Farm
is a must read:
"Obama: Still differences on debt, new talks Sunday
By JIM KUHNHENN
Associated Press
WASHINGTON (AP) -- Beset by a weak jobs report, President Barack Obama on Friday called for swift action by Congress to raise the nation's borrowing limit, saying the uncertainty over the debt ceiling has hindered hiring in the private sector."
So now the blame for a failed economy and loss of jobs is ... because we are not in more debt???
Here's a tip for Congress and the Prez, add it to the book Letters to President Obama: Americans Share Their Hopes and Dreams with the First African-American President
Borrowing money does NOT create jobs. There is no such thing as an "entitlement", every American is "entitled" to work to earn what they want/deserve. Expecting the Government to hand you everything, from food to mortgage subsidies to medical care is as un-American as things can get. This country was built on hard work - blood, sweat and tears; to wax philosophically.
Instead of increasing the benefits to encourage unemployment - a more useful approach would be to help small businesses survive. The bulk of hiring is done by small business - not the mega corporations or government agencies. This is a fact, look it up. Small businesses should receive INCENTIVES to hire, not receive PENALTIES when they create jobs. Currently, the byzantine tax laws make it extremely difficult to manage a large payroll without having to hire an outside (expensive) accounting firm. Beside the direct tax LIABILITY of EVERY employee in a company, the new penalties include mandatory medical insurance when 50 or more employees are hired. It makes no sense for a small firm that has just under 50 employees to even consider expanding and hiring more workers - since they will be severely penalized if they try to create more jobs.
Providing SMALL businesses with tax breaks IF THEY CREATE NEW JOBS will solve most, if not all, the current problems. Stop: read that again. SMALL business, not mega WAL-corporations. Tax breaks = sensible taxation; currently small companies are taxed TWICE, the business entity pays income tax and the owners pay tax again when they draw any income from their own company, where many owners put in upto 80 work-hours a week. A disincentive to even operate a business, yet many do, and even after being hammered with ridiculous regulations and absurd taxes; some small businesses may even prosper. The current logic originating from the White House is to tax small business out of business. Putting them out of business will REDUCE tax revenue, the killing of the proverbial golden goose. Reducing the tax burden of small companies will NOT reduce any tax income for Uncle Sam - they are HIRING workers, workers who will get paychecks and generate payroll taxes. The newly hired will stop draining the social programs, thereby REDUCING the deficit. Yes, reducing taxes WILL reduce the deficit. It is as simple as that.
Put America to work, don't worry so much about the loss of entitlements. Social programs may take a hit today, but putting the effort and tax breaks into CREATING JOBS will bring those benefits back tomorrow, and we won't even have to borrow $14 Trillion to pay for them.
And for those who have not already read it, Animal Farm
is a must read:Friday, May 6, 2011
Analysis: Jobs matter, unemployment rate doesn't
Analysis: Jobs matter, unemployment rate doesn't – This Just In - CNN.com Blogs:
"Ignore the unemployment rate, and ignore anything you read that highlights the fact that it increased from 8.8% in March to 9% in April. It doesn't matter. It's an irrelevant number. There are so many long-term unemployed in this country, that the unemployment rate would actually be much higher if all of them were counted– more like 16% or 17%."
Hear, hear! Finally an article that makes some sense and has at least a modicum of reality.
The number juggling that comes out of Washington is really useless. The fact of the matter is - there are not enough GOOD jobs out there! Yes, "x" hundreds of thousands of jobs were added, but the figures dodge the issue of WHAT jobs were created. Engineering jobs that pay $50K vs janitorial jobs that pay $25K - big difference.
"Ignore the unemployment rate, and ignore anything you read that highlights the fact that it increased from 8.8% in March to 9% in April. It doesn't matter. It's an irrelevant number. There are so many long-term unemployed in this country, that the unemployment rate would actually be much higher if all of them were counted– more like 16% or 17%."
Hear, hear! Finally an article that makes some sense and has at least a modicum of reality.
The number juggling that comes out of Washington is really useless. The fact of the matter is - there are not enough GOOD jobs out there! Yes, "x" hundreds of thousands of jobs were added, but the figures dodge the issue of WHAT jobs were created. Engineering jobs that pay $50K vs janitorial jobs that pay $25K - big difference.
Thursday, April 28, 2011
Q1 GDP report: Economic growth slows
Q1 GDP report: Economic growth slows - Apr. 28, 2011:
"NEW YORK (CNNMoney) -- Economic growth slowed to a crawl in the first three months of the year as a spike in gasoline, higher overall inflation and continued weakness in the housing market all took a toll on the recovery.
Gross domestic product, the broadest measure of the nation's economic health, rose at an annual rate of 1.8%, the Commerce Department reported Thursday. That's a significant slowdown from the 3.1% growth rate in the final quarter of 2010.
[...]
``Undoubtedly, consumers are cutting discretionary spending to compensate for rising food and energy prices,`` said Jim Baird, chief investment strategist for Plante Moran Financial Advisors. ``The risk of recession in the near-term remains slim, but an extended period of slow growth isn't likely to encourage an enthusiastic mood any time soon.``"
What an astute observation from Jim who has such an important sounding title. Obviously, food is more important than a new pair of shoes. I doesn't take a Moran'ic genius to spell it out for us common folks.
Ironically, the article also mentions that Government spending is down which is contributing to the drop in GDP. Trimming the Federal deficit is well and good, but the idea is trim and reduce WASTE first. Not reduce spending that boosts domestic industry and creates (or in this day and age, maintains) jobs in the US.
Wastage as in all the time and money to look at Obama's birth certificate. No matter that it is, and has always been, public record - and was always available to anyone (ergo the term, public record) to see, and most of the press already had already seen it. Yet all it takes is one rich and noisy twit with a weird hairdo to make it into a national debate. If Uncle Sam wants to raise some quick cash, come up with a "publicity hound tax", and Trump'et-ing buffoons can have all the press air-time they want.
"NEW YORK (CNNMoney) -- Economic growth slowed to a crawl in the first three months of the year as a spike in gasoline, higher overall inflation and continued weakness in the housing market all took a toll on the recovery.
Gross domestic product, the broadest measure of the nation's economic health, rose at an annual rate of 1.8%, the Commerce Department reported Thursday. That's a significant slowdown from the 3.1% growth rate in the final quarter of 2010.
[...]
``Undoubtedly, consumers are cutting discretionary spending to compensate for rising food and energy prices,`` said Jim Baird, chief investment strategist for Plante Moran Financial Advisors. ``The risk of recession in the near-term remains slim, but an extended period of slow growth isn't likely to encourage an enthusiastic mood any time soon.``"
What an astute observation from Jim who has such an important sounding title. Obviously, food is more important than a new pair of shoes. I doesn't take a Moran'ic genius to spell it out for us common folks.
Ironically, the article also mentions that Government spending is down which is contributing to the drop in GDP. Trimming the Federal deficit is well and good, but the idea is trim and reduce WASTE first. Not reduce spending that boosts domestic industry and creates (or in this day and age, maintains) jobs in the US.
Wastage as in all the time and money to look at Obama's birth certificate. No matter that it is, and has always been, public record - and was always available to anyone (ergo the term, public record) to see, and most of the press already had already seen it. Yet all it takes is one rich and noisy twit with a weird hairdo to make it into a national debate. If Uncle Sam wants to raise some quick cash, come up with a "publicity hound tax", and Trump'et-ing buffoons can have all the press air-time they want.
Tuesday, March 15, 2011
Senior Democrat Conyers criticizes Obama
Senior Democrat Conyers criticizes Obama - CNN.com:
"Washington (CNN) -- Senior Democrat John Conyers of Michigan criticized Barack Obama Monday, hoping, Conyers said, to 'make him a better president.'
Citing the troubled job market, rising energy costs, and turmoil in the Middle East, Conyers told reporters at the National Press Club: 'We keep getting a longer and longer list of things he wanted to do, wished he could do more about, and is of course having a big problem.'"
How's that socialism experiment working out for ya, Conyers?
"Washington (CNN) -- Senior Democrat John Conyers of Michigan criticized Barack Obama Monday, hoping, Conyers said, to 'make him a better president.'
Citing the troubled job market, rising energy costs, and turmoil in the Middle East, Conyers told reporters at the National Press Club: 'We keep getting a longer and longer list of things he wanted to do, wished he could do more about, and is of course having a big problem.'"
How's that socialism experiment working out for ya, Conyers?
Monday, February 28, 2011
3M CEO: Obama is "anti-business"
3M CEO: Obama is "anti-business" - Feb. 28, 2011:
"NEW YORK (CNNMoney) -- The head of industrial conglomerate 3M (MMM, Fortune 500) blasted the president as being 'anti-business,' claiming Obama has not done anything to improve the White House's relationship with Corporate America.
3M CEO George Buckley called Obama's policies 'Robin Hood-esque' and told the Financial Times that manufacturers like 3M may have to shift production to other countries in order to stay competitive. 'We know what his instincts are ... he is anti business,' Buckley said in an interview that ran late Sunday."
Its about time someone called out the current administration. Destroying businesses is NOT the way to create jobs. The big boys will simply move their factories and offices overseas, where labor is cheap and governments actually, ahem, help businesses to succeed. Smaller businesses don't stand a chance, and since small businesses are (were) the largest employers - say goodbye to whatever hopes are left of an economic recovery.
But our government does everything in its power, from over-regulation to over-taxation, to shut down any and every kind of business within the US. What kind of fiscal genius would even think of taxing a company out of business? Isn't it commonsense to realize that shutting down a business also shuts down the tax revenue stream? Commonsense, apparently, is uncommon in D.C.
"NEW YORK (CNNMoney) -- The head of industrial conglomerate 3M (MMM, Fortune 500) blasted the president as being 'anti-business,' claiming Obama has not done anything to improve the White House's relationship with Corporate America.
3M CEO George Buckley called Obama's policies 'Robin Hood-esque' and told the Financial Times that manufacturers like 3M may have to shift production to other countries in order to stay competitive. 'We know what his instincts are ... he is anti business,' Buckley said in an interview that ran late Sunday."
Its about time someone called out the current administration. Destroying businesses is NOT the way to create jobs. The big boys will simply move their factories and offices overseas, where labor is cheap and governments actually, ahem, help businesses to succeed. Smaller businesses don't stand a chance, and since small businesses are (were) the largest employers - say goodbye to whatever hopes are left of an economic recovery.
But our government does everything in its power, from over-regulation to over-taxation, to shut down any and every kind of business within the US. What kind of fiscal genius would even think of taxing a company out of business? Isn't it commonsense to realize that shutting down a business also shuts down the tax revenue stream? Commonsense, apparently, is uncommon in D.C.
Sunday, February 13, 2011
Small business lending slashed by $43 billion last year
Small business lending slashed by $43 billion last year - Feb. 11, 2011:
"NEW YORK (CNNMoney) -- The numbers back up what small business owners have been saying for two years: Main Street suffered a brutal credit crunch.
The total value of outstanding loans to small businesses plunged by $43 billion, or 6.2%, between June 2009 and June 2010, according to a report released this week by the Small Business Administration. That's a drop of $59 billion, or 8.3%, from June 2008."
Oh look, the SBA took just two years to recognize the obvious. The banks have contributed to (if not been totally responsible for) the current "economy". By throttling small businesses by withholding loans, they have squashed tens of thousands of businesses and cost millions of jobs. And all this in spite of the generous "bailouts" that the Obama administration has showered on them, which of course was squandered on generous bonuses and raises to the banks' top management. As small businesses crash and burn, the big corporations quietly swoop in and corner their market. Of course they have no problem getting loans from the banks, in addition to sitting on hundreds of billions in cash.
"The Small Business Jobs Act, passed in September, authorized the creation of a $30 billion fund run by the Treasury Department that offers ultra-cheap capital to banks with less than $10 billion in assets. The idea is that pumping capital into small banks will get money in the hands of Main Street businesses."
And the Obama administration's solution to this? Oh great, yet another bailout. Thirty billion was a nice New Year bonus, don'tcha think? The cash never made it beyond the banks payroll. Thirty big-big ones for American taxpayers to cough up, again.
"NEW YORK (CNNMoney) -- The numbers back up what small business owners have been saying for two years: Main Street suffered a brutal credit crunch.
The total value of outstanding loans to small businesses plunged by $43 billion, or 6.2%, between June 2009 and June 2010, according to a report released this week by the Small Business Administration. That's a drop of $59 billion, or 8.3%, from June 2008."
Oh look, the SBA took just two years to recognize the obvious. The banks have contributed to (if not been totally responsible for) the current "economy". By throttling small businesses by withholding loans, they have squashed tens of thousands of businesses and cost millions of jobs. And all this in spite of the generous "bailouts" that the Obama administration has showered on them, which of course was squandered on generous bonuses and raises to the banks' top management. As small businesses crash and burn, the big corporations quietly swoop in and corner their market. Of course they have no problem getting loans from the banks, in addition to sitting on hundreds of billions in cash.
"The Small Business Jobs Act, passed in September, authorized the creation of a $30 billion fund run by the Treasury Department that offers ultra-cheap capital to banks with less than $10 billion in assets. The idea is that pumping capital into small banks will get money in the hands of Main Street businesses."
And the Obama administration's solution to this? Oh great, yet another bailout. Thirty billion was a nice New Year bonus, don'tcha think? The cash never made it beyond the banks payroll. Thirty big-big ones for American taxpayers to cough up, again.
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