Category Archives: Economy

Latest Way to Save the World from Global Warming: Work Less

I have to admit that the “climate change” sham is brilliantly devised. If it’s colder than normal, that’s evidence of man-caused climate change. If it’s warmer than usual, that’s evidence of man-caused climate change. And now politicians who are killing the economy and putting people out of work (where they all too often stay) can claim that they’re saving the planet:

Want to reduce the effects of global warming? Stop working so hard. Working fewer hours might help slow global warming, according to a new study released Monday by the Center for Economic Policy and Research.

A worldwide switch to a “more European” work schedule, which includes working fewer hours and more vacation time, could prevent as much as half of the expected global temperature rise by 2100, according to the analysis, which used a 2012 study that found shorter work hours could be associated with lower carbon emissions.

The Center for Economic Policy and Research is a liberal think tank based in Washington.

In the old days if you made an effort and put in a lot of hours to better yourself and improve your station in life, you were called a hard worker. Now you’re an eco-terrorist.

There are 8.5 million more Americans not in the labor force than there were when Obama took office. In other words, the US president is doing his part to combat global warming.

null

Climate Change Policies We Can Believe In!

Barack ‘the Sequester is the Fault of Republicans’ Obama in 2011: I Will Veto Any Efforts to Undo the Sequester

As evidenced in his speech yesterday, President Obama continues to blame the upcoming “sequester” cuts on Republicans, while warning of dire consequences:

Surrounding himself with a group of emergency responders whose jobs he said are on the line, Obama said the looming “sequester” of $85 billion would weaken national defense, disaster response, health care, education, energy development, medical research, border security, FBI investigations, federal prosecutions, air traffic control and airport security.

The cuts are “not smart,” “not fair,” and “people will lose their jobs,” Obama said.

However, the sequester was not only partly the White House’s idea, but last year President Obama threatened to veto any efforts to undo the cuts. But don’t take my word for it:

Meanwhile, the Pentagon announced plans for 800,000 civilian layoffs due to the sequester that President Obama blames Republicans for but President Obama demanded remain in the spending bill. Nobody in our illustrious press corps seems to be asking Obama why he signed the bill if the sequester is so horrible. I guess the MSM’s too busy getting the scoop on Tiger (breaking: Obama’s got an “amazing touch” on the golf course).

(h/t Gateway Pundit)

Zimbabwe Has $217 in the Bank; Considering Transferring Balance to a Different Bank Just for the Free Tote Bag

Adding even more pressure to the situation, the minimum balance requirement on Zimbabwe’s checking account at the Harare Bank & Distrust is $200.

From AFP:

After paying public workers’ salaries last week, the balance in cash-strapped Zimbabwe’s government public account stood at just $217, Finance Minister Tendai Biti said Tuesday.

“Last week when we paid civil servants there was $217 (left) in government coffers,” Biti told journalists in the capital Harare, claiming some of them had healthier bank balances than the state.

“The government finances are in paralysis state at the present moment. We are failing to meet our targets.”

Mugabe probably raided the accounts again. But that won’t stop them from asking everybody else to pay for their election:

Zimbabwe’s government has warned it does not have enough money to fund a constitutional referendum and elections expected this year.

Biti said that left no choice but to ask the donors for cash.

“We will be approaching the international community,” he said.

Zimbabwe’s elections agency says it will need $104 million to organize the election — and probably another $100 million to rig it.

Three words of advice for you, Zimbabwe: Trillion. Dollar. Coin.

Associated Press: US Economy Posts ‘Stunning’ Drop… Unexpectedly!

null

If the AP thinks it’s getting bad now, wait until the economy starts to fully absorb Obamacare. Or should I say, until Obamacare starts to absorb the economy.

Bring on the “unexpectedly” for the 48th straight month:

The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.

The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.

The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That’s a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.

The surprise contraction could raise fears about the economy’s ability to handle tax increases that took effect in January and looming spending cuts.

Let me get this straight… in September of 2012, the Federal Reserve launched QE3 in order to “rev up the economy.” In the 4th quarter the economy posted a “stunning drop,” and in reaction the first thing the Fed is talking about is doing another round of “quantitative easing”?

What’s the definition of insanity again?

Farewell Alien Attack Stimulus: Paul Krugman Says it Would Be a ‘Bad Idea’ to Nominate Him for Treasury Secretary

What? No space alien attack stimulus? No trillion dollar coin minting to pay down the debt? Say it ain’t so:

In a blog post on the New York Times website, columnist Paul Krugman says no to serving as treasury secretary. Which is clarifying, even though he was never offered the job anyway.

“Yes, I’ve heard about the notion that I should be nominated as Treasury Secretary. I’m flattered, but it really is a bad idea,” writes Krugman.

The first reason Krugman lists is, he admits, that he’s “indeed the World’s Worst Administrator — and that does matter.”

The second reason: “Oh, and there’s not a chance that I would be confirmed.”

But the foremost reason, according to the guy who was never offered the job in the first place, “is that it would mean taking me out of a quasi-official job that I believe I’m good at and putting me into one I’d be bad at.”

I’ll bet the real reason is that Krugman wouldn’t want to be directly accountable when his pet theories that work in New York Times articles and in academia go down in flames after being applied to the real world — the ones that haven’t already, that is.

The push to draft Krugman for Treasury Secretary is that of Danny Glover and MoveOn.org, and nothing screams “great idea” like a proposal from those two.

One thing I’ll give Krugman here: it’s unlikely he would have done a worse job than Turbo Tim.

Will Obamacare Cover Treatment For Heavy Metal Addiction?

I couldn’t believe this story wasn’t from the United States, but I’m sure it’ll arrive soon — if it hasn’t already.

A man in Sweden is reportedly getting state disability benefits due to a crippling addiction to heavy metal:

According to the Global Post, 42-year-old Roger Tullgren said he consulted three psychologists to testify his addiction to the Devil’s Rock, which led to him attending over 300 concerts last year, leaving him seemingly unable to hold down a job.

“I have been trying for 10 years to get this classified as a handicap,” he told Swedish newspaper The Local. “I spoke to three psychologists and they finally agreed that I needed this to avoid being discriminated against.”

According to the report, he now has a part-time job as a dishwasher at a restaurant in Hassleholm, which will be supplemented by disability benefits. Tullgren’s new boss has agreed to let him rock out to Slayer as loud as he wants while scrubbing dishes, so long as it doesn’t disturb guests. He has even agreed to grant Tullgren time off to go to gigs.

I’ve heard there’s treatment available for this addiction in the Yngwie Malmsteen wing of the Betty Fjord clinic in Goteborg, but that won’t happen as long as the Swedish government keeps enabling him.

Sometimes people are diagnosed with the opposite problem — a life completely devoid of heavy metal — and the disorder is usually discovered after a doctor notices the patient’s blood work shows an Iron Maiden deficiency. Sorry…

metaladdiction

Tullgren, pictured above, has promised to get medical help with his addiction — unless Sabbath, Pantera, Motorhead or Judas Priest are touring

QE 4: $45 Billion a Month Bond Buyback

File under BOHICA:

The Federal Reserve will spend $45 billion a month to sustain an aggressive drive to keep long-term interest rates low. And it set a goal of keeping a key short-term rate near zero until unemployment drops below 6.5 percent.

The policies are intended to help an economy that the Fed says is growing only modestly with 7.7 percent unemployment in November.

The Fed said in a statement issued Wednesday that it will direct the money into long-term Treasurys to replace an expiring bond-purchase program. The new purchases will expand its investment portfolio, which has reached nearly $3 trillion.

If this were to go on a year, that’s $540 billion worth of QE — or “money printing” as we used to say. That’s over $4,000 per household in the United States. And in the end we’ll be back right where we are (or worse)… with some inflation added for flavor.

Sheila Jackson Lee Has Graduated from the Joe Biden School of Wild Over Exaggeration

During the campaign, Joe Biden said that Republicans had voted for a $500 trillion tax cut. Not to be outdone, here’s Rep. Sheila Jackson Lee (D-umb) on how much extra cash was in the public coffers when tax rates were higher during the Clinton administration:

“Remember, we had a $5.6 trillion surplus in 2000 – 2001 from the Clinton administration,” Jackson said in the interview while discussing fiscal cliff negotiations.

However, according to CNN Money, the “Treasury Department reported a budget surplus… of $127 billion” for fiscal year 2001 and a $237 billion surplus for fiscal year 2000.

Jackson Lee is obviously confusing surplus with the national debt, which was $5.6 trillion when Bubba left office. Only in the mind of a lib nutburger can a multi-trillion dollar debt be mistaken for a surplus:

(h/t Weasel Zippers)

White House: Send Us Videos of Yourselves Calling for Higher Taxes on the Rich

class-warfare-cartoon1

The Pentagon’s budget is getting cut, but that hasn’t hindered the Obama administration’s ability to wage class warfare:

With lawmakers scheduled to return to work on Monday to begin intense discussions before a looming fiscal deadline, Mr. Obama’s aides are trying to harness the passions that returned him to the White House, hoping to pressure Republicans in Congress to accept tax increases on the wealthy. The president’s strategists are turning first to the millions of e-mail addresses assembled by the campaign and the White House.

Already, supporters are being asked to record YouTube videos of themselves talking about the importance of raising taxes on the rich. Aides said those videos would be shared on Facebook and Twitter and would be forwarded to centrist Democrats, as well as to mainstream Republicans, who they hope will break with their Tea Party colleagues.

Obama’s re-election is a clear signal that enough Americans who have been convinced that they are better off if somebody else is made to pay higher taxes. To me this is like being stuck in quicksand and recording a video about how much better off you’ll be if somebody else is pushed in with you. Misery loves company, and the people who capitalize on misery love idiots.

Sorry Unions: Wal-Mart Reports Record Black Friday Sales

The unions tried to disrupt things, but it looks like that effort will fail big time:

After opening earlier than in previous Thanksgiving weekends, Wal-Mart reported its “best ever Black Friday” sales, including bigger crowds than last year, the company said Friday.

The retailer rolled out deals starting at 8 p.m. on Thanksgiving Day. From 8 p.m. to midnight, Wal-Mart processed nearly 10 million register transactions, handling 5,000 items a second, the company said. Mmore than 22 million shopped in Wal-Mart’s stores during the four-hour period.

Last year, the chain opened at 10 p.m.

More than 1.3 million employees are staffing the holiday weekend, Wal-Mart U.S. chief executive Bill Simon said in a statement.

Protesters made an effort though. I can’t help but wonder if the union sent those protesters out to picket in favor of a “living wage” while paying them minimum wage and offering zero benefits. They’ve been known to do that. Look for the union irony label.

I guess one thing Big Labor can consider a resounding success is this: Nobody was able to buy Twinkies at Wal-Mart today. That’ll teach ’em!