Daily Readings 08-22-2011

By: admin
Published: August 22nd, 2011

Change for the Worse

Just as he promised, Obama has fundamentally transformed America

Decline and Fall

The arc of the Obama presidency bends towards failure

Greece: It’s the corruption, stupid!

Beneath the desperate debt crisis headlines, Jeff Randall finds a country mired in fraud and fiddling – and discovers its authorities are powerless to stop the rot.…Sounds more and more like America…

71% Say Too Many People Get Welfare Who Shouldn’t

Americans overwhelmingly believe that the bigger problem with the welfare system in the United States is that there are too many overqualified recipients rather than not enough. Most also think legal immigrants should have to wait at least three years before being eligible for welfare benefits.

Wall Street Aristocracy Got $1.2 Trillion From Fed

The Fed’s liquidity lifelines may increase the chances that banks engage in excessive risk-taking with borrowed money, Rogoff said. Such a phenomenon, known as moral hazard, occurs if banks assume the Fed will be there when they need it, he said. The size of bank borrowings “certainly shows the Fed bailout was in many ways much larger than TARP,” Rogoff said.

President orders a government-wide strategy for workforce diversity within 90 days

President Barack Obama signed an executive order Thursday directing federal officials to design a government-wide strategy for making the federal workforce more diverse.

An Office of Personnel Management report says that in fiscal year 2010, the federal workforce was 66.2 percent white, 17.7 percent black, 8 percent Hispanic, 5.6 percent Asian/Pacific Islander and 1.8 percent Native American. It was 56.1 percent male.

We can go two ways here. Either fire 46.2 percent of the whiteys and 6.1 of the males and hire more of the other ethnic groups until we have 20% of each group and 50-50 gender distribution in government. Or probably it will be better just to hire people from the other groups until their number equals the whites number…..problem solved, right? Any way you know you going to pay for the good change the government mandates

Government Employment Increased in D.C. in July, Says Labor Dept

The number of people employed by government in Washington, D.C., increased in the month of July even as the overall unemployment rate rose in the District of Columbia itself as well as in 28 of the 50 states, according to a report released today by the Department of Labor’s Bureau of Labor Statistics.

Social Security disability on verge of insolvency

Laid-off workers and aging baby boomers are flooding Social Security’s disability program with benefit claims, pushing the financially strapped system toward the brink of insolvency. Applications are up nearly 50 percent over a decade ago as people with disabilities lose their jobs and can’t find new ones in an economy that has shed nearly 7 million jobs.

Jackson Hole Central Bankers Reflect on QE2 Amid Pressure for New Stimulus

“Unfortunately, the Fed doesn’t have any rabbits to pull out of the hat to magically reignite economic growth,” Gault said. “It is doing what it can, and despite the dissent, that will probably mean a QE3 program at some point, but its prime ammunition has already been used.”

Million drivers face losing licence under EU diabetes diktat

Up to one million people with diabetes could lose their driving licences because of harsh new European rules classifying them as unfit to drive.

Experts claim the ‘unnecessarily strict’ changes will affect hundreds of thousands who have been driving for decades without problems.

Hartmann – Fukushima…is this the China Syndrome?

Green Jobs, Red Faces

Industrial Policy: The fact that President Obama’s “green jobs” campaign has been an enormously expensive failure is now so glaringly obvious even the New York Times can’t ignore it any longer.

In a surprisingly candid article headlined “Number of Green Jobs Fails to Live Up to Promises,” the Times’ Aaron Glantz reports that “federal and state efforts to stimulate creation of green jobs have largely failed, government records show,” and that Obama’s goal of 5 million new green jobs in 10 years is a “pipe dream.”

Has America Become a Nation of Squatters?

Before the recession, “squatting” brought to mind Appalachian-style family feuds, wherein the Hatfields camped out for years on end, shotguns cocked, on a remote corner of the McCoy’s acreage., or maybe starving artist types making their homes in neglected former industrial buildings of lower Manhattan.

It’s also a legal concept that has stunned generations of law students: the idea that, in many states, even in 2011, someone with no other legal right to a property could, if a few technical conditions were met, gain title by openly and continually trespassing there without the owners’ permission. As a Berkeley law student first learning of “adverse possession” myself, I was amazed  to begin noticing metal plaques in the concrete around campus granting permission to whoever would pass thereon, which was the University’s old school and effective method of avoiding ownership claims by squatters.

Backdoor Amnesty – Abusing the Constitution and Presidential Authority

When President Obama was inaugurated, he swore an oath to “preserve, protect and defend the Constitution of the United States.”  Article II, Section 3 directs the President to “take Care that the Laws be faithfully executed.”  Unfortunately, in what has become an all too common occurrence in this administration, Obama is once again bending that oath to the breaking point by specifically not taking care that immigration laws passed by Congress are faithfully executed.

President Obama’s Regulatory Dust-Up

The Environmental Protection Agency (EPA) is seriously contemplating much more stringent requirements to control dust (aka “particulate matter”

The Sad Statistic That Trumps the Others

THERE’S been a lot of bad economic news lately, yet we may be overlooking the most disturbing development of all: our economic productivity has been weakening. This isn’t just a problem for the United States. Because America remains a leader in technology and innovation, it is also a matter of concern for the entire world.

FRAUD: Federal Reserve Is Selling Put Options On Treasury Bonds To Drive Down Yields

Templeton’s Mobius Sees Stock Markets Rising on Inflation

The U.S. Federal Reserve hasn’t given up supporting the economy by printing money and buying more Treasuries, said Mobius, executive chairman of Templeton Asset’s emerging markets group. The firm is buying commodity stocks, expecting raw material prices to rise, he said.

Bad luck? Bad faith?

A troubled nation wonders: How did we get mired in 9.1 percent unemployment, 0.9 percent growth and an economic outlook so bad that the Federal Reserve pledges to keep interest rates at zero through mid-2013 — an admission that it sees little hope on the horizon?

13-Year-Old Looks at Trees, Makes Solar Power Breakthrough

Not bad for a kid who hasn’t started high school yet.

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