Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • How We Are Different
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • Your Survival Guy
  • The Great Reset
  • COVID-19
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • The Swiss Way
  • Dick Young
  • Debbie Young
  • Key West
  • Paris
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Work to Make Money/Invest to Save Money
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve: My Favorite Investor Tool

Slumping Into Summer

June 15, 2011 By The Editors

The recent report on the employment situation concluded that the unemployment rate in the United States has increased to 9.1%. The S&P Case-Shiller house prices index has fallen for nine consecutive months after a post-recession peak in the so-called “Recovery Summer” of 2010. Since then, the homes price index has fallen nearly 4%. The economy appears to be slumping into summer. After spending trillions of dollars in “stimulus” and relief packages, President Obama said in a news conference on June 7th that “I’m concerned that the recovery we’re on is not producing jobs as quickly as I wanted to happen.”

John Crudele sheds some light on the jobs report at the New York Post writing, “The government’s data on the economy is so bad it should be written in crayon, with happy face stickers next to it…In order to come up with growth of 54,000 new jobs the Labor Department had to assume the unlikely — that 206,000 jobs were created by newly-formed companies it thinks but can’t prove were ‘born’ in May…You can find that figure right on the Labor Department Web site at www.bls.gov/web/empsit/cesbd.htm. This is called Labor’s Birth/Death Model, and it’s the nearest thing to a fraud perpetrated by Washington…Without this generous assumption, the US.. would have lost jobs in May, rather than having created a paltry number of them.”

Audrey Hudson writes at Human Events that President Obama’s Interior Department, headed by Secretary Ken Salazar, is the administration’s “weapon of choice in a war on jobs.” She quotes Congressman Tom McClintock of California as saying, “I think they have constructed the most effective job-killing machine in the history of the country.”

Hitting out at the current administration’s failure, creating policy that would allow the private sector to create jobs, Governor Tim Pawlenty laid out a plan to generate growth in the U.S. economy. Philip Elliott of the Associated Press wrote:

In a speech heavy on specifics, Pawlenty proposed a three-tier income tax system:

• The estimated 45 percent of U.S. households that did not pay income taxes in 2010 would see no change in their tax rates.

• Individuals would pay 10 percent tax on the first $50,000 of income. Couples earning $100,000 would also pay that rate.

• “Everything above that would be taxed at 25 percent,” Pawlenty said.

He said he wants to cut business taxes from the current rate from 35 percent to 15 percent, and he called for dismantling vast pieces of the government.

Elliott quoted Pawlenty as saying, “We can start by applying what I call the Google Test. If you can find a service or a good on Google or the Internet then the federal government probably doesn’t need to be doing that good or service. The post office, the government printing office, Amtrak, Fannie Mae and Freddie Mac were all built for a different time in our country and a different chapter in our economy when the private sector did not adequately provide those services. That’s no longer the case.”

Related Posts

  • Obama's Summer Jobless Tour
  • This Summer, Win By Not Losing
  • Dear President Obama
  • Author
  • Recent Posts
The Editors
Latest posts by The Editors (see all)
  • Making America Great Again Is What America Wants - March 20, 2023
  • Is Plant-Based Meat Unhealthy and Harmful to the Environment? - March 17, 2023
  • SPIES ON CAMPUS: The Chinese Have Invaded the Quad - March 16, 2023

Dick Young’s Must Reads

  • Who Is Alex Jones?
  • ENERGY FREEDOM ACT: Ted Cruz Introduces Bill for Energy Independence
  • SVB – There’s Panic in the Air
  • For Whom Is Your Portfolio Serving?
  • U.S. Survival AR-7
  • Mises and Rothbard Finally Get Their Due
  • You May Be Surprised by America’s “Least Woke City”
  • Can Ginger Combat Heart Disease and Improve Circulation?
  • Your Survival Guy Prefers Bombardier’s Global Express 7500
  • Concentrate on Dividend Record and Compounding

Disclosure

RSS Youngresearch.com

  • Your Survival Guy’s BEST Insider’s Guide to Key West
  • For Whom Is Your Portfolio Serving?
  • Who’s to Blame for Banking Vulnerability?
  • Mortgage Market Not Expected to Settle Down Soon
  • Are You Living Your Best Life?
  • Were Silicon Valley Bank’s Motivations for Taking Losses Pure?
  • Will the Black Swan Usher in Digital Dollars?
  • Major Rail Merger Gets Approval
  • The Education of Barney Frank
  • Credit Suisse Announced “Material Weaknesses” In Its Internal Controls

RSS Yoursurvivalguy.com

  • Are You Fairly Wealthy? I’m Listening
  • How Long Is Your Water Supply Chain?
  • Your Survival Guy’s BEST Insider’s Guide to Key West
  • Be Wary of Those Who Wrap Themselves in Capes
  • For Whom Is Your Portfolio Serving?
  • ESG: Are Markets Ready for “A Needed Dose of Reality?”
  • Was Silicon Valley Bank a Victim of ESG?
  • Are You Living Your Best Life?
  • March RAGE Gauge: Will the Black Swan Usher in Digital Dollars?
  • Gretchen Whitmer Reviving Forced Unionization in Michigan

Who’d be Nuts Enough to Have Put Money into SVB?

Are You Fairly Wealthy? I’m Listening

Get Well Soon Taki

A Cashless Society Is A Debacle for Americans

How about Hiring Erik Prince to Crush the Drug Cartels?

Key West’s Best Burger

Copyright © 2023 | Terms & Conditions | About Us | Dick Young | Archives