Tag Archive: Economy


Initial Jobless Claims Collapse To 15 Year Lows But Shale States Job Losses Explode

 

 

 

 

” After 4 weeks missing expectations (and 3 above the crucial 300k mark), initial jobless claims totally and utterly collapsed last week. Printing 265k (beating the 300k expectation by the most in years), the 13.9% drop WoW was the biggest since September 2005!!! This is the lowest initial claims data since the financial crisis and in fact the lowest since April 2000. But it is the story from the Shale states that is most troubling as initial claims through the 2nd week of January (data is lagged by state) show a massive surge in initial claims as unambiguously good news is very much not for many thousands across these regions.”

 

Zero Hedge

 

 

 

 

 

 

 

 

 

 

 

 

New York, Northeast Lead Nation In ‘Outmigration

 

 

 

 

 

” New York State and the Northeast region led the nation in domestic net “outmigration” in the period from July 1, 2013 to July 1, 2014 , according to newly released data from the Census Bureau. During the same period, Texas and the South led the nation in domestic net “immigration.”

  Domestic net outmigration is the number of residents who move out of a state or region to another part of the country minus the number of residents who move in from another part of the country. It does not include international migration—n.b. people who move into a state or region from outside the United States, or from a state or region to outside the United States.”

 

 

   This video dates from 2011 and demonstrates that the flight from NY has been ongoing for decades , which gives you an idea of how long the state has been so poorly managed …

 

 

 

 

 

 

” A state or region has domestic net immigration when the number of people moving in from another part of the country exceeds the number moving out.

  From July 1, 2013 to July 1, 2014, 30 states had a domestic net outmigration and 20 states plus the District of Columbia had a domestic net immigration.”

 

 

Here are the top ten states that people are fleeing:

 

” 1-New York (-153,921)

2-Illinois (-94,956)

3-New Jersey (-55,469)

4-California (-32,090)

5-Pennsylvania (-31,448)

6-Michigan (-28,679)

7-Connecticut (-26,216)

8-Virginia (-20,400)

9-Ohio (-18,243)

10-Massachusetts (-16,354) “

 

 

 

CNS News has more details

 

 

Here is some further reading on the “Exodus” state:

 

Going Going Gone: Why are People Leaving NY?

People leaving New York State

Escape From New York? High-Taxing Empire State

The “Exodus States:” People leaving New York

The States People Are Fleeing In 2013

Movers Study: People Leaving NY, NJ En Masse

Why Are People Leaving New York?

New Yorkers leaving state

 

 

 

 

 

 

 

 

 

Of More Than 3,000 U.S. Counties, Just 65 Have Recovered From Recession, NACo Says

 

 

NACo 4 indicators

 

 

” Seven years after the recession began, only one in 50 U.S. counties has fully bounced back, according to a study the National Association of Counties released Monday.

  The 2014 County Economic Tracker shows that 65 of the nation’s 3,069 counties have met or surpassed prerecession levels in four measured categories: jobs, unemployment rate, economic output and home prices.

  Those places range from Anderson County, S.C., to McKenzie County, N.D., to Kodiak Island, Alaska.

  National employment surpassed 2007 levels during 2014 and the U.S. gross domestic product had fully recovered from the recession by 2011. But the national unemployment rate was 5.6% in December compared with 5% when the recession began seven years earlier. And housing values in much of the country have yet to fully return.

  The recovered counties are largely located in energy-rich areas and have small populations. Of the 65 recovered counties, 24 are in Texas and 16 are in North Dakota. The others are generally in the middle of the country, including nine in Minnesota and eight in Kansas.

  None of the recovered counties has more than 500,000 residents.”

 

     This article , more than any other demonstrates that the nearly $3 Trillion in government stimulus spending was nothing more than wasteful cronyism handed out to favored unions , interest groups and corporations . Little or none trickled down to benefit the taxpayers actually footing the bill .

Wall Street Journal

 

 

 

 

 

 

 

 

 

 

 

Despite Decline In CPI, Food Index Increases In December

 

 

 

 

 

 

” Despite a decline in the overall Consumer Price Index (CPI) in December, the food index increased and the price index for meats, poultry, fish and eggs hit a record high, according to data released today from the Bureau of Labor Statistics (BLS).

  According to the BLS, “The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.4 percent in December on a seasonally adjusted basis. Over the last 12 months, the all items index increased 0.8 percent before seasonal adjustment.”

“ The gasoline index continued to fall sharply, declining 9.4 percent and leading to the decrease in the seasonally adjusted all items index,” said the BLS.

“ The fuel oil index also fell sharply, and the energy index posted its largest one-month decline since December 2008, although the indexes for natural gas and for electricity both increased,” said the BLS.

“ The food index, in contrast, rose 0.3 percent, its largest increase since September.” “

 

 

    Perhaps this has something to do with the record high food prices , after all Obama did promise that “electric prices would necessarily skyrocket” …

 

 

 

 

 

 

 

This is one promise candidate Obama has kept: Price of Electricity Hit Record High in U.S. in 2014

 

 

Electricity Price Index Hit All-Time High in 2014

 

 

 

 

CNS News has the details

 

 

 

 

 

 

 

 

 

 

Government Is The Country’s Biggest Problem, Say Americans

 

 

 

 

 

 

 

” Government (and the creatures who infest its rotten carcass) was the most important problem facing the United States in 2014, Americans tell Gallup pollsters. That’s up from being the second most serious problem in 2013, and the third-ranker in 2012.

  Who says the American political system is stuck? This is progress!”

 

 

Most Important Problem Facing the U.S.

 

 

 

” The news that Americans are un-fond of government, Congress, the president, and politicians in general comes from an average of monthly survey results throughout the year. Given officialdom’s litany of stupid government tricks, the elevation of America’s own flavor of Leviathan to public enemy numero uno may seem like nothing more than good common sense to many observers. Perhaps an expression of collective survival instinct. Or, at least, mass revulsion.

  True, government just barely edged out general economic concerns and worries over jobs and unemployment for top ranking. But still, it’s impressive when the institution whose adherents bill it as the cure for life’s ills wins top billing as a major disease itself. “

 

 

And from the Gallup poll itself comes this pearl …

 

 

” 2014 was also the first year since 2007 that the economy was not the top ranking issue, and it was the first year ever in Gallup records that dissatisfaction with government topped the list. Without a dominant issue such as the economy, the Iraq War or terrorism crowding out other issues as they have in years past, this is also only the third time since 2001 when three issues garnered at least 15% in average mentions. Thus, 2014 joins 2013 and 2009 as years when multiple issues emerged as significant top-of-mind concerns for Americans.”

 

JD Tuccille has more at Reason

 

 

 

 

 

 

 

 

 

 

Florida Leaves New York Behind In Its Rear-View Mirror

 

 

 

 

 

” It’s official. Florida is the nation’s third-largest state with 19.7 million people. It surpassed New York this month by adding an average of 803 new residents every day as opposed to New York’s 140.

  Contrary to the stereotype, sun-seeking seniors aren’t the main drivers of Florida’s population growth. James Johnson, a business professor at the University of North Carolina, told the AP that Florida’s powerful economic engine is driving its growth: “I think it’s going to be for the 21st century what California or New York was for the 20th century.”

  As the James Madison Institute reports, Florida’s growth is built on a consensus that taxes, spending, and regulation should be restrained. Its budget is half the size of New York State’s, it lacks a state income tax, and it is much easier to start and run a business there than in many northeastern states.”

 

National Review

 

 

 

 

 

 

 

 

 

 

Texas Job Growth Outpaces Rest Of U.S. Combined

 

 

 

 

” Since the recession began in December 2007, 1.2 million net jobs have been created in Texas. Only 700,000 net jobs have been created in the other 49 states combined.

  The remarkable employment growth in Texas looks even bigger considering its size relative to the rest of the U.S. Total non-farm employment has grown by 11.5 percent in Texas since December 2007. Employment in the rest of the United States has grown only 0.6 percent. Until September 2014, total employment growth in the rest of the United States since December 2007 was still negative.”

 

Washington Examiner

 

 

 

 

 

 

 

 

 

 

$4.20 Per Pound: Price Of Ground Beef Climbs To Another Record

 

 

bls

 

 

” The average price of a pound of ground beef climbed to another record high — $4.201 per pound — in the United States in November, according to data released today by the Bureau of Labor Statistics (BLS).

  In August 2014, the average price for a pound of all types of ground beef topped $4 for the first time, hitting $4.013, according to the BLS.  In September, the average price jumped to $4.096 per pound, and in October, the average price climbed to $4.154 per pound. In November, the average price hit the highest price ever recorded — $4.201 per pound.

  A year ago, in November 2013, the average price for a pound of ground beef was $3.477 per pound. Since then, the average price has increased 20.8 percent in one year.

  Five years ago, in November 2009, the average price of a pound of ground beef was $2.062, according to the BLS. The price has since climbed by $2.139 per pound, or 103.7 percent.”

 

Read more at CNS News

 

Below is a list of average grocery prices and other necessary expenses by year from 2008 to 2014 …

 

COL 2008-2014

 

 

   This is a list from one source that we could find quickly and while we find some of the statistics to be dubious in the extreme it does convey the basic idea that , contrary to what the inflation figures provided by the State claim , prices are out of control . Heck of a job Barack …

 

 

 

 

 

 

The Best And Worst Run States In America: A Survey Of All 50

 

Party Control Of States

 

 

” How well run is your state? Assessing a state’s management quality is hardly easy. The current economic climate and standard of living in any given state are not only the results of policy choices and developments that occurred in the last few years, but can also be affected by decisions made decades ago, and by forces outside a state’s control. 

  Each year, 24/7 Wall St. attempts to answer this question by surveying various aspects of each state. To determine how well states are managed, we examine key financial ratios, as well as social and economic outcomes. This year, North Dakota is the best-run state in the country for the third consecutive year, while Illinois replaced California as the worst-run state.

  Selecting appropriate criteria to compare the 50 states is difficult because there is so much variation among the states. As a result, policy decisions that may work in one state might not work in another. Some states are rich in natural resources, while others rely on high-skilled sectors such as technology and business services. Some depend disproportionately on one industry, while others’ economies are more balanced. Further, some states are more rural, while others are highly urbanized and densely populated.

  This year, a number of the best-run states again benefit from an abundance of natural resources. North Dakota, Wyoming, Alaska, and Texas are among the top 10 best-run states, and in all four, the mining industry — which includes fossil fuel extraction — is a major contributor to state GDP. Due in large part to the mining sector, North Dakota and Wyoming led the nation in real GDP growth in 2013. And Alaska has utilized its oil wealth to build massive state reserves and to pay its residents an annual dividend.

  Although less than in years past, the lingering effects of the housing crisis still have a negative impact on several of the worst-run states. In five of the 10 worst-run states — Arizona, Georgia, Illinois, New Jersey, and Rhode Island — home values declined by 10% or more between 2009 and 2013. Worse still, in states such as Arizona and Rhode Island, the housing market remains well below its peak, reached just before the start of the recent recession.”

 

   A brief rundown of the top ten and bottom ten states , color-coded (red for GOP , blue for Democrats , purple for split government) by party control of legislature and governor’s office is as follows: 

 

The 10 best run states:

 

” 1. North Dakota

2. Wyoming

3. Nebraska

4. Iowa

5. Minnesota

6. Utah

7. Alaska

8. Texas

9. Vermont

10. South Dakota

 

 

And here are the ten worst run states:

 

” 41. Alabama

42. Missouri

43. New Jersey

44. Georgia

45. Arizona

46. Kentucky

47. Rhode Island

48. Mississippi

49. New Mexico

50. Illinois

 

 

Click through to the 24/7 Wall Street post for a detailed accounting of all 50 states to see where yours stands .

 

 

 

 

 

 

 

 

 

Here Is Where Homes Are Most Affordable For The Middle Class

 

middle class homes

 

 

 

 

” If you’re struggling to buy a home in San Francisco or New York, you may want to consider Dayton or Rochester.

  Those are two of the U.S. cities where middle-class buyers are most likely to find an affordable home, according to a new report by the real-estate website Trulia.

  In Trulia’s map below, the bubbles represent the size of a metropolitan area’s housing market. The colors represent the percentage of housing in that market that Trulia considers affordable to the middle class.

  By Trulia’s definition, a city is affordable if “the total monthly payment, including mortgage, insurance, and property taxes, is less than 31% of the metro area’s median household income.” Thus, what’s affordable varies from city to city. “

 

 

The least affordable areas come as no surprise …

 

 

least affordable markets

 

 

Huffington Post

 

 

 

 

 

 

 

 

 

Report: 71 Percent Of NH Job Growth Since 2000 Has Gone To Immigrants Over Americans

 

 

 

 

” A whopping 71% of new jobs in New Hampshire since 2000 have gone to foreign immigrant workers—both those who are here illegally and legally—a new report from the Center for Immigration Studies (CIS) found.

“ Job growth in New Hampshire has not been very strong,” Steven Camarota, CIS’s research director and the report’s co-author, said in a statement accompanying its release. “The situation for natives without a college education has been particular bad. Thus, it is surprising that many of New Hampshire’s politicians supported the Gang of Eight bill, which would give work authorization to illegal immigrants and dramatically increase the number of foreign workers allowed into the country in the future.”

  One particular politician in the state who supported the “Gang of Eight” bill, which would have hurt even more New Hampshire jobs than current immigration policy does, is incumbent Democratic Sen. Jeanne Shaheen (D-NH). Shaheen voted for the immigration bill and regularly defends it on the campaign trail, despite the fact that the data that CIS found shows New Hampshire’s citizens are struggling, and illegal and legal immigrants are taking many of the state’s new jobs.”

 

Breitbart

 

 

 

 

 

 

 

 

 

 

CNN Poll: Voters Are Angry

 

 

 

 

 

 

” Nearly 7 in 10 Americans are angry at the direction the country is headed and 53% of Americans disapprove of President Barack Obama’s job performance, two troubling signs for Democrats one week before the midterm elections, a new CNN/ORC International Poll shows.

  Democrats are battling to try and save the Senate majority, while hoping to prevent more losses in the House, which the GOP controls by a 234 to 201 margin.

  In the Senate, Republicans need a net gain of six seats, and several state polls in the past month of contested races show that Democrats are in danger of losing control of the majority, and thus Congress. Currently, Democrats control the Senate by a 55-45 margin with two of those seats held by independents that align themselves politically with Democrats.

  The CNN/ORC poll shows that 30% of Americans are “very angry” and 38% are “somewhat angry” about the way things are going in the country, while 31% expressed “no anger” at all. CNN Polling Director Keating Holland notes the 31% of “very angry” Americans matches the mood of the country in 2010 when Republicans took back control of the House. “

CNN

AP-GfK Poll: Most Expect GOP Victory In November

 

 

Graphic shows results of AP-GfK poll on voter attitudes; …

 

 

” Two weeks before Election Day, most of the nation’s likely voters now expect the Republican Party to take control of the U.S. Senate, according to a new Associated Press-GfK poll. And by a growing margin, they say that’s the outcome they’d like to see.

  Among all adults, 38 percent say they’d like the Democrats to wind up in control of Congress, to 36 percent for the Republicans. But the GOP holds a significant lead among those most likely to cast ballots: 47 percent of these voters favor a Republican controlled-Congress, 39 percent a Democratic one. That’s a shift in the GOP’s favor since an AP-GfK poll in late September, when the two parties ran about evenly among likely voters.

  Women have moved in the GOP’s direction since September. In last month’s AP-GfK poll, 47 percent of female likely voters said they favored a Democratic-controlled Congress while 40 percent wanted the Republicans to capture control. In the new poll, the two parties are about even among women, 44 percent prefer the Republicans, 42 percent the Democrats.”

 

Read more

 

 

 

 

 

 

 

 

 

 

The Death Rattle Of Europe’s Statist Dream

 

 

 

 

 

 

” Europe’s all-too-predictable relapse into recession is gathering force, threatening not only the pipe dream of economic and political unity, but eroding grandiose illusions that have helped prop up the world’s financial house of cards. The unwillingness of France in particular to play by the EU’s — i.e.,  Germany’s — rules appears to have doomed the EU dream. The idea of a borderless Europe bound by a common currency and a shared desire to forever banish war from the Continent was a lofty one, but it was mired from the start in deeply rooted political animosities, grass-roots skepticism and bureaucratic overreach. Now these problems, along with a great many others, have turned the EU project into a Tower of Babel. A million pages of meticulously codified EU rules might as well have been written in cuneiform, so inscrutable and arcane have they become.

  And useless as well. France’s prolonged economic death rattle has been made possible by running annual deficits larger by half than the 3% “allowed” by Brussels. And now, channeling  de Gaulle for what could turn out to be France’s last hurrah, the French have flouted Merckel’s authority, and common sense itself, by proposing to remedy the problem by hiring more government workers and expanding tax breaks.  Portugal, Greece, Spain and the other deadbeat rabble have been cheering them on, and why not? They think they have nothing to lose — that Germany is the only country with any skin in the game. Their folly is about to be laid bare, however, unless Germany gives in and allows Europe’s Central Bank to monetize the collective debts of Europe Fed-style. “

 

Continue reading

 

 

 

 

 

 

 

 

Prefer GOP On Seven Of 13 Election Issues; Democrats, On Just Four

 

2014 Midterm Issues: Importance and Party Advantage

 

 

” The Republicans in Congress hold significant leads over the Democrats on four of the six issues that U.S. registered voters say are most important in determining how they will vote in November: the economy, the way the federal government is working, the situation with Islamic militants in Iraq and Syria, and the federal budget deficit. Democrats, by contrast, top their Republican rivals on just one of the six: “equal pay for women.”

  These results are from a Sept. 25-30 poll in which Gallup asked registered voters to rate the importance of 13 issues to their vote for Congress, and then to indicate which party would do a better job on each issue. The accompanying graph simultaneously displays the rankings of these issues on both dimensions. The higher an issue is, the greater the Republican Party’s advantage. And the farther to the right an issue is, the more important it is to the electorate.

  The 13 issues measured in the new poll include eight that appeared in a Gallup Poll conducted in April, before the midterm campaign season came into full bloom, plus five new ones. In total, six issues were rated above the average of 69%, in terms of the percentage of voters saying they are extremely or very important to their vote:

  1. the economy (88%)
  2. the availability of good jobs (86%)
  3. the way the federal government is working (81%)
  4. the situation with Islamic militants in Iraq and Syria (78%)
  5. equal pay for women (75%) and
  6. the federal budget deficit (73%)

  On the No. 1 issue, the economy, Republicans have more than doubled their April lead over Democrats, to 11 percentage points. “

 

Read the rest at Gallup

 

 

 

 

 

 

 

 

 

 

China Just Overtook The US As The World’s Largest Economy

 

 

 

 

 

 

” Sorry, America. China just overtook the US to become the world’s largest economy, according to the International Monetary Fund.

  Chris Giles at the Financial Times flagged up the change. He also alerted us in April that it was all about to happen

  Basically, the method used by the IMF adjusts for purchasing power parity, explained here.

  The simple logic is that prices aren’t the same in each country: A shirt will cost you less in Shanghai than in San Francisco, so it’s not entirely reasonable to compare countries without taking this into account. Though a typical person in China earns a lot less than the typical person in the US, simply converting a Chinese salary into dollars underestimates how much purchasing power that individual, and therefore that country, might have. The Economist’s Big Mac Index is a great example of these disparities. “

 

Heck of a job , Barack … read more 

 

 

 

 

 

 

 

 

 

 

 

 

 

Poll: Americans Worry _ Can Government Protect Us?

 

Govt Poll

 

Click for PDF of poll results

 

 

” Americans lack confidence in the government’s ability to protect their personal safety and economic security, a sign that their widespread unease about the state of the nation extends far beyond politics, according to the latest Associated Press-GfK poll.

  With Election Day about a month away, more than half those in the survey said Washington can do little to effectively lessen threats such as climate change, mass shootings, racial tensions, economic uncertainty and an unstable job market.

  For many of those questioned in the poll, conducted before doctors in Texas diagnosed a Liberian man with the Ebola virus, the concern starts with the economy.

  The poll found that 9 in 10 of those most likely to vote in the Nov. 4 election call the economy an extremely or very important issue. Teasdale is among those who say the slow recovery from the recession is a top concern.

  Despite improvements nationally, business is far from booming in his state, Teasdale said. He’s been supplementing his stagnant salary by renovating and renting out duplexes and has little faith the situation will improve soon. He wants government to get out of the way of business.

” If you’re putting so much restriction on them where it isn’t practical for them to expand or grow, why should they?” Teasdale asked.

  Those surveyed also pointed to events such as the protests in Ferguson, Missouri, that followed the fatal police shooting an unarmed black 18-year-old and the beheading of a woman in an Oklahoma food processing plant, apparently at the hand of a suspended co-worker.

” This is the first time I’ve felt insecure in my own country,” said Jan Thomas, 75, of Stevensville, Montana. “Especially after the beheading in Oklahoma. That’s scary.”

  The poll found that Democrats tend to express more faith in the government’s ability to protect them than do Republicans. Yet even among Democrats, just 27 percent are confident the government can keep them safe from terrorist attacks. Fewer than 1 in 5 say so on each of the other issues, including climate change.”

   Another first for the gentleman from “Hope & Change” . He’s the best friend fans of liberty have ever had , albeit unintentionally … Read the rest from AP News

Record 92.6 Million Americans Not In Labor Force

 

 

 

 

 

” While by now everyone should know the answer, for those curious why the US unemployment rate just slid once more to a meager 5.9%, the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010: the collapse in the labor force participation rate, which in September slid from an already three decade low 62.8% to 62.7% – the lowest in over 36 years, matching the February 1978 lows. And while according to the Household Survey, 232,000 people found jobs, what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million! “

 

Tyler Durden has more at Zero Hedge

 

 

 

 

 

 

 

 

 

 

 

Number Of Billionaires Hits Record High In 2014

 

 

 

 

 

 

” The world economy is going through a rough patch, yet the world’s billionaire population is at an all-time high.

  A new survey shows that 155 new billionaires were minted this year, pushing the total population to a record 2,325 – a 7 percent increase from 2013.

  Credit goes to the United States – home to the most billionaires globally – where 57 new billionaires were recorded this year, according to the Wealth-X and UBS Billionaire Census 2014 released on Wednesday.

  Asia and Latin America and the Caribbean were also large contributors,with 52 and 42 new entrants, respectively.

” The fastest growing segment of the billionaire population, in terms of wealth source, are those who inherited only part of their fortunes and became billionaires through their own entrepreneurial endeavors,” the report said, noting that 63 percent of all billionaires’ primary companies are privately held.”

 

 

    Does anyone find it peculiar that the biggest growth in the billionaire population is happening in three countries that are heavily State controlled ? That’s right … the US under Obama , China and Russia … WTF ?

 

 

Read on

 

 

 

 

 

 

 

 

 

Politico Battleground Poll Puts Obama At 44/56, GOP Up On Immigration

 

 

 

 

 

” Americans are sour on the economy, which surprises Politico’s Alexander Burns [link fixed], but it shouldn’t. In the first major likely-voter poll of the general election, Democrats face strong headwinds on the economic issues that voters tell pollsters will be their main focus in November. Burns notes that voters aren’t buying the Recovery Summer Part IV meme Democrats are selling, although it appears Burns is:

If the nation’s economy is on the mend, the voters of 2014 aren’t feeling it.

  Despite continued signs of a halting but persistent national comeback, midterm voters remain frustrated and unhappy with the state of the economy, according to the latest POLITICO poll of likely voters in 2014 battleground states. Many appear to blame President Barack Obama: 57 percent of these voters disapprove of his economic leadership.

  But while the economy has improved, it has not yet taken flight: Unemployment remains above 6 percent, and in August the country gained just 142,000 jobs. Candidates around the country have tempered their claims of economic improvement, including Republican governors who also initially aimed to run on their records of job creation.

  Some states have seen improved job creation, but not the US as a whole. With the exception of one month out of the past year, there haven’t been any “impressive monthly employment reports,” and even the one didn’t get to the 300K level. Adding an average of around 200K a month only slightly surpasses population growth in the US, which means for the last five years since the technical recovery began, the US has done little except tread water when it comes to job creation. Furthermore, the 6% unemployment rate would be impressive if the workforce participation rate had remained fairly constant, but it hasn’t; it’s at a 36-year low.”

 

 

Then there is this gem:

 

 

” Unfortunately for Democrats, 35% of likely voters believe economic issues are the top priority for this election in this battleground poll. Another 19% think it’s national security, which makes the situation even worse. The issues that Democrats hoped to highlight in this cycle — the environment, social problems, and immigration — combine up for a whopping 11% of voters who will prioritize them this summer.”

 

 

Read it all at Hot Air but remember … if there is a way to blow a huge advantage the GOP are the ones that can find it .

 

 

 

 

 

 

 

We’re Number 32!

 

 

 

 

 

” Any day now the White House and Sen. Charles Schumer (D., N.Y.) will attempt to raise taxes on business, while making the U.S. tax code even more complex. The Obama and Schumer plans to punish businesses for moving their legal domicile overseas will arrive even as a new international ranking shows that the U.S. tax burden on business is close to the worst in the industrialized world. Way to go, Washington.

  On Monday the Tax Foundation, which manages the widely followed State Business Tax Climate Index, will launch a new global benchmark, the International Tax Competitiveness Index. According to the foundation, the new index measures “the extent to which a country’s tax system adheres to two important principles of tax policy: competitiveness and neutrality.” “

 

 

 

 

 ” A competitive tax code is one that limits the taxation of businesses and investment. Since capital is mobile and businesses can choose where to invest, tax rates that are too high “drive investment elsewhere, leading to slower economic growth,” as the Tax Foundation puts it.

  By neutrality the foundation means “a tax code that seeks to raise the most revenue with the fewest economic distortions. This means that it doesn’t favor consumption over saving, as happens with capital gains and dividends taxes, estate taxes, and high progressive income taxes. This also means no targeted tax breaks for businesses for specific business activities.” Crony capitalism that rewards the likes of green energy with lower tax bills while imposing higher bills on other firms is political arbitrage that misallocates capital and reduces economic growth.

  The index takes into account more than 40 tax policy variables. And the inaugural ranking puts the U.S. at 32nd out of 34 industrialized countries in the Organization for Economic Co-operation and Development (OECD).”

 

 

Read more

 

 

 

 

 

 

 

 

 

 

The Day After Labor

 

 

 

 

 

” To all our American readers, Happy Labor Day! And to all our Canadian readers, Happy Labour Day! That’s what the day used to be about: putting the “u” in Labor. You can’t spell labour without you, and without you and your labour this planet would be a primitive state of nature, red in tooth and claw. Consider the words of Peter J McGuire, General Secretary of the Brotherhood of Carpenters and Joiners, proposing the very first Labor Day a mere century-and-a-third ago. The new day would be an occasion, he said, to honor those “who from rude nature have delved and carved all the grandeur we behold”.

  What a crazy! All the grandeur we behold comes from man and his work? What fossil fuel is he inhaling? Today, rude nature is the state we aspire to, and you can’t even delve and carve a Keystone pipeline underneath it, out of sight. Labor itself, in the sense Mr McGuire used the term, is morally dubious among our elites, and, down at the other end, simply unknown. A statistic from my book After America, personally autographed copies of which are exclusively available from the SteynOnline bookstore and which help support my campaign against Nobel fraud Michael Mann’s rude nature, into which I hope to be carving a hearty “up yours”…

Whoops, sorry. Where was I? Ah, yes. A quote from After America:

  One fifth of British children are raised in homes in which no adult works. Just under 900,000 people have been off sick for over a decade, claiming “sick benefits”, week in, week out for ten years and counting.

  By 2012, one tenth of the adult population had done not a day’s work since Tony Blair took office on May 1st 1997 – a decade and a half earlier. In such households, the weekday ritual of rising, dressing, and leaving for gainful employment is entirely unknown. In Ferguson, Missouri, the “conversation”, as they say on MSNBC, is between the dependent class and the governing class that ministers to them and keeps them in line. If you’re a convenience store owner, your low-skilled service jobs are the only labor on offer, and, for your pains, you get burned and looted by the dependent class while your 911 calls go unanswered by the governing class, both of which you fund.

  Now there’s a glimpse of the world to come, for those who wish to ponder it. Of course, nothing dates quicker than the future, as I suggested in this Labour Day column from Canada’s National Post twelve years ago:

This Labour Day, I thought about the working class, the masses.

  No, honestly, I did. Okay, I was on the beach, but the folks around me lying on the sand had jobs they’ll be getting back to this morning. They worked. They would be classed as workers. But they’re not an homogeneous “working class”, they’re not conscripts in Karl Marx’s “masses”. The transformation of Labor Day, from a celebration of workers’ solidarity to a cook-out, is the perfect précis of the history of Anglo-American capitalism. “

 

 

As usual , read it all 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hamptons Residents Shocked After Finding Ku Klux Klan Pamphlets

 

 

KKK Hamptons

Click Pic For Video

 

 

 

” Some homeowners in the Hamptons are puzzled and angry after finding recruitment pamphlets for the Ku Klux Klan at their homes.

  As CBS 2’s Jennifer McLogan reported Tuesday, Fernando Alvarez said he found the fliers under his Hampton Bays door. His family was left wondering if they were targets of the hate group, or if the leafleting was random.

“ We were really shocked that … in this area we can have KKK,” Alvarez said.

  Hampton Bays, the town of Southampton’s most populous hamlet, has 13,000 residents — 30 percent of whom are Hispanic.”

 

CBS New York

 

 

 

 

 

 

 

 

 

Electorate Awakens: Obama Gas And Mortgage Groupie Now Says He Lied About Everything

    Everyone remembers this viral video of Florida mother Peggy Joseph voicing her unqualified support for Santa Obama , the candidate that will pay her mortgage and put gas in her car , but just in case you’ve forgotten just how enthusiastic the woman was here is the video again …

 

 

 

   Fast forward six years and Ms Joseph is whistling a different tune . Documentary filmmaker Joel Gilbert located Peggy as part of his latest project “There’s No Place Like Utopia” and here is what she has to say after six years of “Hope & Change”.

 

 

 

 

” Remember that South Florida woman who had her fifteen minutes of fame claiming Obama would pay for her mortgage and gas?

  Before the 2008 election, she was filmed saying “I won’t have to worry about putting gas in my car, I won’t have to worry about paying my mortgage. If I help him, he’s going to help me!”

  Well, documentary filmmaker Joel Gilbert tracked down Peggy Joseph to see how all that hope and change is working out for her and six years later, she’s had a complete change of heart. After living through Obama’s failed economic policies, she now says “he lied about everything.” “

 

Read the rest

 

 

 

 

 

 

 

 

 

 

 

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