Category Archives: Economy
Many people have been talking about job creation lately, especially politicians. But is government the best creator of jobs? And is job creation the best thing for the economy? Professor Steve Horwitz explains that there is a difference between creating jobs and creating wealth. Creating jobs is relatively easy, but the most economic progress is made when jobs are eliminated because they become unnecessary. This does lead to some unemployment, but the alternatives are worse. To prevent transitional unemployment would also halt innovation, growth, and the reduction of poverty. So what is the best way to create valuable, meaningful jobs? Professor Horwitz says, “The best job-creation program in human history is the free market and the entrepreneurship it generates.”
This video is a must watch. Interesting, frightening and refreshing to hear somebody from outside our country assess the economic mess in the United States and Europe. There is some great information contained in the graphics on the right side which can be better read in HD quality and fullscreen.
Pierre Poilievre is a Member of Parliament for Nepean-Carleton, he was first elected in 2004 and has since been re-elected in 2006, 2008, and 2011. In April of 2012, MP Poilievre stood up in the House of Commons to defend economic freedom and to warn his colleagues of a fiscal cliff that many economies like the US and European Union are headed to.
This video is the enhanced version of his original House of Commons speech on the economy and how to avoid a fiscal cliff.
- Fiscal Cliff Put Into Perspective of a Household Income (johnsimonds.com)
- Geithner: U.S. to hit debt ceiling on Monday (money.cnn.com)
- New fiscal cliff issue: The debt ceiling (usatoday.com)
- Debt Ceiling Suddenly Becomes Big News Story (valuewalk.com)
- You: US Treasury warns of ‘extraordinary measures’ amid fiscal cliff deadlock (guardian.co.uk)
I can use some feedback on this video series. What does everybody think? Is it credible or conspiracy? Is it fact, fiction or fantasy? I personally find it mostly VERY education (the biblical references had me zoning out), great information regarding currency and banking.
Your thoughts …
UPDATE (11/12/12 @ 11:21 ET): I’m halfway through part 5 and i think she has come off the rails talking about the coming massacre of the underclass.
UPDATE (11/12/12 @ 11:45 ET): I’ve heard enough. I’m removing this post because i’ve concluded it contains too much quackery. Too bad. There’s some good information on debt, money and how the banks work. But there is also too much nutty stuff, too much conspiratorial jibberish.
Posted Nov 8, 2012 by AnnBarnhardt via YouTube
- Barnhardt: The ‘New Economy’ Is Going To Implode, In 8 Parts (westernrifleshooters.wordpress.com)
- She’s Baaaack! Ann Barnhardt: The Economy Is Going To Implode Pt.1 of 8 (sgtreport.com)
- Hollywood Implodes Over Obama Meltdown (rubinoworld.com)
Americans could be waiting another five years for a return to normal employment based on the sluggish pace of the U.S. economy. After nearly four years in office, President Obama has overseen the worst recovery since the 1960s.
This week’s chart comes on the heels of Friday’s employment report, which showed an uptick in the unemployment rate to 7.9 percent.
MORE . . .
- Chart of the Week: Slowest Economic Recovery Since the 1960s (heritage.org)
- Obama’s Imperial Presidency Is Killing Recovery (realclearpolitics.com)
The year is 2012 – Ronald Reagan assesses our circumstances after almost four years with Barack Obama in the oval office.
While real consumer spending growth remains perilously close to recessionary levels for another year, one of our favorite indicators of real consumer sentiment (as opposed to the anchoring bias-driven surveys we are force-fed a few times per month) is the growth in spending on eating meals out. As Bloomberg Briefs notes, spending on dining out has fallen from 4.5% growth at the beginning of the year to under 1.8% growth currently (the lowest since May 2010). Add to this the slowdown in jewelry spending and the drag on discretionary spending likely from Sandy and we suspect the modicum of estimate revisions that have started to be published by sell-side analysts will need a little more adjustment.
Real Consumer Spending remains stagnant…
while easting out is plunging…
Charts: Bloomberg Briefs
- Real Economy Still Sliding As ‘Eating Out’ Continues to Go Down (zerohedge.com)
- How To Spot A Keynesian (rubinoworld.com)
- 3rd Quarter GDP Growth Due to Government Spending, No Reason to Celebrate (reason.com)
So you were suspicious about those September job creation numbers touted by the Obama Administration? You had good reason to be.
The payroll data firm ADP, which recently became partners with Moody’s Analytics, revised their estimate of the September jobs created down from 162,000 to 88,200. That new number is considerably less than the Labor Department’s count of 114,000, which included 104,000 from the private sector.
When the Labor Department’s job numbers came out for September, there was an uproar; many observers thought the numbers were manipulated to benefit Barack Obama’s reelection. As Jack Welch, former head of General Electric, tweeted after the Labor Department’s release: “Unbelievable jobs numbers…these Chicago guys will do anything…can’t debate so change numbers.”
But the revised ADP numbers have sparked strong suspicion that the October numbers will be worse than the Labor Department will let on.
Todd Schoenberger, managing principal at the BlackBay Group in New York, said: “It’s huge, no doubt about it. Their changing the methodology tells me that if the number is cut in half with that revision, then the revision we’re going to see Friday is going to be a disaster.”
ADP is taking no chances this time; they will announce their October count on Thursday before the Labor Department announces theirs on Friday. ADP said its new reports will offer a more detailed breakdown of the numbers while they increase the numbers of businesses analyzed.
- September Surprise! Jobs Count Revised Down, October Bleak (riehlworldview.com)
- ADP to revamp their jobs reporting (hotair.com)
- Non-shocker of the day: September jobs data revised by half (twitchy.com)
- ADP revises September 2012 jobs sharply down (impeachobamatoday.wordpress.com)