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Jim Cook

 

RUNAWAY SOCIAL SYMPATHY

Every once in a while I switch the TV channel from Fox to CNBC to see what the liberals are saying.  After listening awhile I get a deep sense of hopelessness and foreboding for our country.  The most important thing for the left is giving money to people.  They are happy to see the growth of food stamps, disability payments, housing subsidies, free healthcare and all the other welfare benefits.  They utterly fail to see the damage it is doing to the recipients.  Whole cities that once flourished have deteriorated into rotting eyesores populated with shambling hulks of chemically dependent drones.  These people are no longer employable.  They have become incompetent and helpless and the liberals can’t see that it’s their doing.

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The Best of Jim Cook Archive

 
Best of Aubie Baltin
July 19, 2011
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The whole world, but especially our American economists, financial analysts and media talking heads were completely surprised, shocked and overwhelmed by the financial news and job reports that hit us last week.  That is, every one was surprised but US. Their excuses are running anywhere from the Japanese earthquake and tsunami to Republican intransigents, but again we know better.  WHY? Because we concentrate on the BIG picture and especially on the unintended consequences of government actions. We study the effects of the rules and regulations that Washington imposes; the hidden tax increases and bailouts that the media does not report – all have unintended consequences.  There is so much focus on making sure that the rich pay their FAIR SHARE and companies that are out of Obama’s favor lose what are being called TAX LOOP HOLES. Let’s not forget Obama Care that was rammed down our throats, even though 70% of the population was against it. Their unintended consequences such as new real investment and hiring have been paralyzed. As I have explained many times, these directives from on high, such as the stopping of all drilling in the Gulf, and the new emission regulations that come directly from the EPA all have their unintended consequences. The ban on drilling alone has cost us upwards of 200,000 high paying jobs and the list goes on.

THE LATEST JOBS REPORT

The Bureau of Labor Statistics reported that in the month of June, only 18,000 net new jobs were created. That means our Central Planners' policies have failed completely. The budget deficit was driven up and created no new jobs. Even the 18,000 figure is a lie; the true number is much worse. The Birth/Death adjustment in June was 131,000. In other words, the Labor Department took a wild eyed guess that 131,000 jobs probably were created by new businesses they think might have started up in June. Without that supposition, the economy actually lost 113,000 jobs. May's figure was revised lower to 25,000 new non-farm payroll jobs being created from what was originally reported as 54,000. But again, if you back out the 206,000 pretend jobs, May saw a decline of 181,000 jobs. So, for the two months of May and June, the economy lost 294,000 jobs. Then, if you consider we need to create 150,000 new jobs each month just to keep pace with population growth, this means the economy fell short of breakeven by 594,000 jobs. Not only are we not creating new jobs to get those who are unemployed back to work, but the situation is worsening.


TEENAGE UNEMPLOYMENT

Those of you who have teenagers have probably noticed that this has been a terrible summer for young people to find a job. The Department of Labor reported that a smaller share of 16-19 year-olds are working than at anytime since 1948. Only 24% of teens have jobs, compared to 42% as recently as the summer of 2001. So instead of learning valuable job skills like getting out of bed before noon, showing up on time, being courteous to customers, operating a cash register or fork lift -- millions of kids will spend their summer just hanging out and getting into trouble. HOW IS IT POSSIBLE TO CREATE A REASONABLE JOBS CREATION STRATEGY WHEN WE CANNOT EVEN GET RELIABLE STATISTICS FROM THE GOVERNMENT? And where is our (watch dog) media throughout all of this?

Obama must be living in a dream world, if he thinks any one time tax break will get companies to repatriate their foreign profits, when America treats corporations and Capitalism itself, worse than any other nation on earth.