Archive for the ‘Incompetency’ Category

Economist: We’re on Pace for Full Employment in Less Than a Year

By: admin
Published: May 14th, 2015

Economist: We’re on Pace for Full Employment in Less Than a Year

David Doyle, an analyst with Macquarie Capital Markets, thinks the U.S. economy could be at full employment within a year.

First, he estimates the amount of people who are likely to return to the labour force and adds that to the number of people currently looking for work but cannot find it.

That group consists of about 21.1-million Americans.

He then factors in that 55,000 jobs per month need to be added just to keep up with the growth of the population.

Under Doyle’s calculations, if non-farm payrolls rise by 250,000, labour slack will be reduced by 195,000.

After 11 months, that would bring the unemployment rate down to 4.9 percent.

Here’s his math:

Non-farm payroll growth has averaged 248,500 over the past 12 months.

Full employment, which Doyle claims would be achieved if this came to pass, is the state at which no one is without a job due to a lack of demand in the economy.

read more here

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Bill Nye: ‘We need carbon tax to redistribute wealth…need gov’t to run things…everyone else should shut up’ …

By: admin
Published: March 28th, 2015

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Green company creates three jobs in three years, gets another $80 million from DOE

By: admin
Published: June 26th, 2012

From Washington Examiner
by Joel Gehrke

Department of Energy officials gave a New Hampshire-based biofuel company access to $80 million for a Michigan project that has already fallen short of job creation expectations, despite receiving another $40 million in state and DOE subsidies.

“In September 2008, Mascoma [Corp.] pledged 70 jobs at the plant by the end of 2012. On Feb. 29 of this year, Mascoma reported to the MEDC that only three jobs had been created by the grant,” the Capitol Confidential (Mich.) reports today.”The company has been given the full $20 million from the state.”

Mascoma, a renewable energy company that specializes in cellulosic ethanol, received another $20 million for research and development from the Energy Department in 2008.

The company warned the federal government, in its SEC filing, that it has “no experience in the markets in which we intend to operate” — which perhaps explains why it only created three jobs from 2008 to 2011, despite promising to create 70 jobs, according to Capitol Confidential. That means that the Michigan government and DOE, in combining to give the company $40 million in 2008, spent $13.3 million on each job.

Even so, DOE signed an $80 million cooperative agreement with Mascoma in December, 2011. “Biofuels hold great potential, not only for reducing our dependence on foreign oil, but also for creating new jobs and economic opportunities for America’s rural communities,” Valerie Reed, the Acting Biomass Program Manager in Office of Energy Efficiency & Renewable Energy of the DOE said at the time.

Biofuels, in general, may ‘hold great potential’ for job creation, but what about creating three jobs in three years suggests to DOE that Mascoma in particular should receive another $80 million in taxpayer money?

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The Economic Recovery: Built to Last?

By: admin
Published: April 29th, 2012

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Obama’s Administration Fails in Regulating Financial Institutions That Are “Too Big to Fail”

By: admin
Published: April 18th, 2012

In fact the things are getting worst…

Banks Seen Dangerous Defying Obama’s Too-Big-to-Fail Move

Two years after President Barack Obama vowed to eliminate the danger of financial institutions becoming “too big to fail,” the nation’s largest banks are bigger than they were before the nation’s credit markets seized up and required unprecedented bailouts by the government.

Five banks — JPMorgan Chase & Co. (JPM)Bank of America Corp. (BAC), Citigroup Inc., Wells Fargo & Co. (WFC), and Goldman Sachs Group Inc. — held $8.5 trillion in assets at the end of 2011, equal to 56 percent of the U.S. economy, according to central bankers at the Federal Reserve.

That specter is eroding faith in Obama’s pledge that taxpayer-funded bailouts are a thing of the past. It is also exposing him to criticism from Federal Reserve officials, Republicans and Occupy Wall Street supporters, who see the concentration of bank power as a threat to economic stability.

As weaker firms collapsed or were acquired, a handful of financial giants emerged from the crisis. Since then, JPMorgan, Goldman Sachs and Wells Fargo have continued to grow internally and through acquisitions from European banks, reeling from government austerity measures related to the rising cost of public debt in Greece, Spain, Portugal, Ireland and Italy.

The industry’s evolution defies the president’s January 2010 call to “prevent the further consolidation of our financial system.” Embracing new limits on banks’ trading operations, Obama said then that taxpayers wouldn’t be well “served by a financial system that comprises just a few massive firms.”

But, but, but, wait a minute! ….Didn’t they pass the Dodd- Frank Wall Street Reform and Consumer Protection Act to deal with the too big to fail banks? 

Oh- yeah they did. 

So, what did the government incompetent bureaucratic achieved? 

Here you go…

Committee: Dodd-Frank compliance to cost private sector 24 million man-hours per year

Regulators have written only 185 of the expected 400 rules. But those 185 rules are expected to cost the private sector more than 24 million man-hours each year to comply.

The tracker has also found that those 185 rules take up more than 5,300 pages.

….let’s just get it down to the community banker — the person that loans money to most of the small businesses in our country,” Neugebauer said in a phone interview. “We’ve had a few community bankers come in here and say, ‘you know, they’re hiring a lot more compliance officer than they are loan officers.’ That is increasing the cost of banking and, ultimately, they have to charge higher interest rates and higher fees.”

The ordinary people got f@cked again…

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Coming to America: UK Surgery bans elderly patient over her carbon footprint

By: admin
Published: April 8th, 2012

From The Telegraph

An elderly woman was ordered to find a new GP (general practitioner) because the “carbon footprint” of her two-mile round trips to the surgery where she had been treated for 30 years was too large.

Avril Mulcahy, 83, was told to address the “green travelling issues” over her journeys from her home in Westcliff-on-Sea, Essex, to the West Road Surgery. The surgery wrote to Mrs Mulcahy, telling her to register with a new GP within 28 days.

The letter said: “Our greatest concern is for your health and convenience but also taking into consideration green travelling issues. Re: Carbon footprints and winter weather conditions, we feel it would be advisable for patients to register at surgeries nearer to where they live.

“We would be very grateful if you could make the necessary arrangements to re-register at another practice.”

read the rest here

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Daily Readings 02-04-2012

By: admin
Published: February 4th, 2012

Jobless rate at 3-year low as payrolls surge – Really? LOL. The report is a bad joke. I just cannot believe that such a spinning and twisting of the truth are done by the government and the media that once were hold as world wide example of freedom and democracy. We are really witnessing the fall of our great nation.   

More pistons in the economic engine have begun to fire, pointing to accelerating economic growth. One of the happiest persons reading this job report is President Obama…

Jobs Preview 2012: The Year of the Missing Worker – 

  • There are over 3 million “missing” workers who should be in the labor force, but are not.
  • If labor force participation were in line with demographic projections, the unemployment rate would be above 10 percent.
  • The possibility of large numbers of people reentering the labor force makes it very difficult for the unemployment rate to fall below 8 percent by Election Day.

US Bridges, Roads Built By Chinese Firms (ABC News – Video)

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Top five regrets of the dying – On the other hand…

A nurse has recorded the most common regrets of the dying, and among the top ones is ‘I wish I hadn’t worked so hard’. What would your biggest regret be if this was your last day of life?

The ‘Financial Recession’ Excuse – Happy days are here again heh? Nope! All “good” economic news are lies 

Never before in postwar America has either real per capita GDP or employment still been lower four years after a recession began. If in this “recovery” our economy had grown and generated jobs at the average rate achieved following the 10 previous postwar recessions, GDP per person would be $4,528 higher and 13.7 million more Americans would be working today.

Earning Less – Why The Poor Get Poorer – Do they have a choice?

Working longer hours but earning less — the plight of the average American continues.

Getting Nowhere, Very Fast – 

California has a huge state debt and Washington has a huge national debt. But that does not discourage either Governor Jerry Brown or President Barack Obama from wanting to launch a very costly high-speed rail system.

Someone once said that government is the illusion that we can all live off somebody else…

Streetcar work begins, total cost rises – 

The city of Atlanta launched work on a new, 12-stop downtown streetcar line Wednesday — and officials disclosed that the project’s estimated price tag has risen by more than $12 million. Much of that increase is paid for by outside grants.

Local and federal leaders at a kickoff event said the money will be well-spent, despite critics’ doubts that ridership will justify the costs.

“This is about jobs,” said Ray LaHood, U.S. Secretary of Transportation. “This is about creating an economic corridor. … This will be a magnet for tourism.”

Critics, however, say the project will not draw enough traffic to justify its cost.

Reid: Senate will not pass a budget this year – Ha! Who needs a budget, if they have control over all of the other people’s money?

“We do not need to bring a budget to the floor this year — it’s done, we don’t need to do it,” Reid said, according to The Hill.

“We Are Blessed To Have Someone Of Barack’s Intellectual Caliber”… – 

“Since the day that I’ve met my husband, I’ve watched him work tirelessly to try make a difference in other people’s lives. He does that because for him, all of this is all very personal. You know Barack’s story,” the first lady said. “Barack and I both watched our families work hard to make ends meet.”

“That has been the direction of his choices through out his life,” Obama said. “How can he use his blessings and his gifts to help as many people as possible.”

We are blessed to have someone not just of his intellectual caliber but with such a strong grounding of values that all of us identify with — these basic American values that have made our country great and will continue to make us the strongest country in the world,” the first lady said.

 What If Barack Obama And Paul Krugman Ran A Business? – 

This winter has brought a useful tutorial on capitalism courtesy of the media, the Democratic party and President Obama. They have illustrated for us how the depredations of profit-seekers crush American aspirations.

Parents Snared in $100 Billion College Debt Trap Risk Retirement – 

Terry Williams borrowed about $7,000 to earn a degree from Spelman College 38 years ago. For her youngest child, a sophomore at Belmont University in Nashville, she will take on almost $40,000 in parental loans.

Bloomberg warns of budget deficits in coming years – Another one realizes that you cannot spend indefinitely more than you take in…

Mayor Michael Bloomberg says his budget plan for the coming fiscal year has closed a $2 billion budget gap. But he says the city is facing deficits in following years.

Ontario faces decade of deficits – Time to implement Obama-care in Canada. According to our White House, Obama-care will reduce the cost of healthcare …

And the Ottawa-based economic think-tank says the province will need to rein in health-care cost increases if it wants to balance the books by 2022.

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