RTCS

Musings on the Week

Musings on the Week

September 7, 2013

 

Politics – “If you can’t convince them, confuse them. Harry Truman.

Politics – It is too bad that the first African-American democratically elected President turned out to be a socialist/progressive far-left radical liberal Trojan-horse ideologue.

Politics – Despite all the media coverage and Congressional oversight, the IRS continues to target conservative organizations by continuing to delay approval of their tax-exempt status.

Politics – This week’s Obama strategy of distraction from economic scrutiny: gun control executive orders and threatened Syria attack to punish for WMD use.

Politics – Someone has to say it: All of Michelle Obama’s taste is in her mouth, because her fashion taste looks like she dresses in the dark and never looks at herself to see how she looks.

Media – As new technologies emerge, I expect Twitter will go the way of telephone party

lines doomed by personal privacy issues and a lack of any viable business case.

Healthcare – If you think health care is expensive now, wait until you see what it costs when it’s free.P.J. O’Rourke.

Jobs –Once again, job growth came up short, previous months totals were revised down, with 312, 000 less in workforce and 90.5 million Americans are now out of the labor force.

 

November 2008

August 2013

Change

Annual Federal Spending

$2.75T

$3.54T

+$.79T

Total National Debt

$9.99T

$16.93T

+$6.94T

Food Stamp Participation (000)

31,800

47,900

+16,100

Labor Force Participation Rate

65.8%

63.2%

-2.6%

Employed (000)

144,078

144,170

+92

Employment Population Ratio

61.4%

58.6%

-2.8%

Unemployed (000)

10,538

11,316

+778

Unemployed - 27+ wks (000)

2,216

4,290

+2,074

Average Weeks Unemployed

18.9

37.0

+16.7

Unemployment Rate (U3)

6.8%

7.3%

+0.5%

Underemployment Rate (U6)

12.7%

13.7%

+1.0%

Inflation Rate

.1%

2.0%

+1.9%

Misery Index

6.9

9.3

+2.4

Average Price/Gallon Gas

$2.21

$3.69

+$1.48

Global Competitiveness Index

1

7

-6

Economic Freedom Ranking

5

10

-5

Prosperity Index

10

12

-2

Quality of Life Index

13

16

-3

Jobs – Too many Americans have given up looking for work, wages are stagnating, low-wage earners are suffering most, and the U.S. is becoming a nation of part-time workers.

Debt – For the first 150 years of the nation’s existence, flat budgeting was the norm as federal policymakers restrained spending and reduced debt between wars, but not anymore!

Budget – Congress has House and Senate budget proposals, so negotiating a final bill would end the deficit and debt ceiling discussion and eliminate need for continuing resolutions.

Budget – Republicans propose a Continuing Resolution funding entire federal government, except for ObamaCare, challenging Obama to veto and shut down the government.

Healthcare – Americans oppose ObamaCare 54% to 34% in the most recent CNN/ORC survey, while seniors, the main group that uses healthcare, oppose ObamaCare 65% to 31%.

Labor – The International Longshoreman and Warehouse Union is leaving the AFL/CIO citing ObamaCare and immigration reform as two important causes of disaffiliation.

Energy – The Obama Administration is getting back into the venture capital business investing $16 billion into automotive companies most favorable to the White House.

Environment – President Obama has directed the EPA to enforce new set of regulations to limit emissions of water vapor, despite no justification of any impact on climate change.

Deficit – I expect one or more states to declare bankruptcy and seek assistance to recover from the bad economic decisions of the past under federal judicial protection.

Housing I expect that it will take four or more years at the current rate for the backlog of foreclosures to finally clear, before we see any signs of life of a robust housing recovery.

Free Market – When buying and selling are controlled by legislation, the first thing to be bought and sold are the legislators.” P.J. O’Rourke.

Syria – The argument for military intervention is so weak that the “tail is wagging the dog,” and is revealed as just another political distraction from administration economic malaise.

Syria - The decision is clear: no national interest; no clearly defined and realistic objectives; no support of the American people, and no completion criteria or exit strategy – Just Say No!

Syria – Only 38% of Americans back the use of military force, with barely 20% said military action is in U.S. national interest and only 27% think military strike would improve the situation.

Israel I expect that Israel will be attacked by Hamas and the IDF will retaliate by invading and then re-annexing Gaza based on defensible borders and 1920 San Remo Conference.

Israel – I expect that Israel will suffer a nuclear attack from Islamist extremists, and Obama will talk a lot, but stand aside and refuse to help defend this longtime ally.

Asia – I expect that North Korea will attack South Korea and attempt to reunite Korea, and Obama will be “unable” to support our troops and will negotiate for a stalemate.

 

David Coughlin

Hawthorne, NY       

www.ReturnToCommonSensesite.com