George Rebane
[This is the transcript of my regular KVMR commentary broadcast on 27 January 2012. In it I gently introduce the beginnings of monetary utility and mention fair division algorithms about both of which I intend to expand in future posts.]
In last Tuesday’s State of the Union speech President Obama made clear that he will not run for re-election on his record – it would be a disaster if he did. With an historical congressional majority he has been able to pass all of his programs save the cap and trade bill which his own Democrats killed. In spite of this, the resulting numbers are damning.
At a little above 60%, the fraction of productive age Americans in the workforce, working or looking for work, is the lowest ever. Even with population growth, our economy has fewer jobs today than in January 2009. And this after the so-called stimulus spending has increased our national debt by over $4T or about 40% in just three years, and costing $1.5M for every job that the administration claims to have created. (Radio does not allow us to pause here for a minute or two to absorb this little statistic.) Putting a ribbon around the whole thing, our employment rate at 8.5% is still higher than the 7.9% than the President inherited, while the major costs of Obamacare, hanging tax hikes, and the new costly EPA regulations have yet to kick in. Running on his record is a definite no-no.
But not to worry, the political pyrotechnics locker is still chuck full of good stuff to loft into the air, there to create great eye candy in the sky, and take the voters’ mind off our real problems here on the ground. The first thing to launch is the ‘fair share’ argument for the vilified 1%, with poster child none other than leading Republican contender Mitt Romney.
Ruminations - 28jan2012
George Rebane
Woke up a couple of days ago to a National Propaganda Radio segment on business; those guys sure know how to report them. Big ballyhoo on Obama’s visit to Intel’s new, highly roboticized chip manufacturing plant, slated to be the largest in the world when it kicks into gear. The CCO sang loud praises about Intel bringing back manufacturing jobs to America. But not a peep was said in the segment about Intel being a California company where it has always manufactured chips, and why it went to Arizona to build its new showcase manufacturing plant.
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