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Jobs, Jobs, Jobs

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The Labor Department reported this morning that nonfarm payrolls fell by 131,000 in the month of July.  Even more discouraging was that June’s revised payroll number was revised downward to a negative 221,000.  This is huge.  Initial jobless claims estimates...

Administrative Delusion

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Yesterday on CBS Sunday Morning, President Barack Obama was being interviewed by Harry Smith.  This seems to be this President’s primary function.  I can just see his job description now–Item 1, must interview with the media incessantly.  Never mind...

The Case Against Financial Institutions Regulation (and other sundry items)

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The news events of the last few months have certainly put the Obama Administration in a peculiar position.  The Gulf crisis notwithstanding, most of these events have been created by this president and his staff. Team Obama went the the G20 Summit in Toronto this weekend to chide the other 19 nations to continue to stimulate their economy through Keynsian economic principles.  "Not so fast", said the other countries.  "We have to make choices, and right now, we choose fiscal solvency and prudence".  What a concept! Passage of the Financial Institutions Reform package was always tenuous, at best, but the death of Senator Robert Byrd over the weekend makes passage more difficult.  One less Democratic vote means that it's more likely that Republicans can filibuster this package, and this is a good thing.  Here's why:  Any bill that increases regulation, drives up costs to the consumer, and squeezes financial services companies' margins will negatively affect the economy.  The costs of increased regulation always get passed along to the consumer in some way, shape or form.  Limiting profits also limit tax revenues [...]

Washington’s Shrewd Investment

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Today the headlines read something like:  Government Stands to Reap $7.5 Billion Profit from Sale of Citi Stock.  This was reported in both the Wall Street Journal and our local rag, the Des Moines Register, and while estimates vary as to the extent of this...

The Problem Continues…

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The problem still hasn’t been solved.  Some time a go, I wrote a piece about President Obama’s biggest concern.  At least, it should be his biggest concern, because if this particular issue is not addressed, it will go well for Republicans in November, and...
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