The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

Recovery Summer: U.S. Now Losing Jobs

The New York Times writes a confusing lede, but ultimately can’t hide the bad news: With the American economic recovery hanging in the balance, private employers added 71,000 jobs in July, up from a downwardly revised 31,000 in June but below the consensus forecast of 90,000. The unemployment rate stayed steady at 9.5 percent. Over […]

‘Coked-Up Stimulus Monkeys’

No, it’s not the name of a punk rock band, it’s what Democrats are doing with your tax money: Harry Reid’s Plan to Save the Nevada Economy: Coked-up Stimulus Monkeys In the face of the worst recession since the Great Depression, where has the money from Harry Reid’s stimulus bill gone to help our ailing economy? Cocaine-addled […]

It’s FDIC Bank Failure Friday!

Today’s lucky loser: Regulators have shut down a small bank in Georgia, lifting to 104 the number of U.S. banks to fail this year as the industry has struggled to cope with mounting loan defaults and recession. The Federal Deposit Insurance Corp. on Friday took over NorthWest Bank and Trust, based in Acworth, Ga., with […]

Ezra Klein Admits: ‘It Won’t Work’

“Notice that adding new jobs at a rate of 200,000 a month would take us 150 months — or 12.5 years — to get back to normalcy. So far, only April has seen more than 200,000 in non-census jobs growth — and even then, just barely.” — Ezra Klein, July 16, 2010 Hmmm. Dow Jones […]

Democrat Stimulus Drum Corps

The Dow Jones Industrial Average is down more than 700 points since June 21, having lost more than 1,500 points (13.6%) from its late April peak at 11,205. The Dow closed Friday below 9,700 — a level not seen since early October 2009 — and talk of a “double-dip recession” is now far more common than […]

Obamanomics: Failure Is The New Success

by Smitty Heritage has a piece entitled: ‘Why Obamanomics Has Failed – Annotated’. Questions beginning with ‘Why’ being quite a Smitty-magnet, let’s see what these esteemed think-tankers are swimming in. They pick up with Meltzer at the WSJ: ‘Why Obamanomics Has Failed’. RTWT, but I’ll summarize here. . . .they want new stimulus measures—which is […]

Obamanomics: Still Not Working

As of 12:40 p.m. today, the Dow Jones Industrial Average is off more than 230 points, down below 9,900. This decline — about 2%, and roughly twice what the futures market had signaled overnight — is probably due to a sharp drop in consumer confidence. This is being interpreted as a strong indicator of a double-dip recession. Timely […]

‘Unexpectedly’ — Again!

Purchases of U.S. Existing Homes Unexpectedly Fall Sales of U.S. previously owned homes unexpectedly fell in May, a sign demand was probably pulled into prior months before a June tax-credit deadline. . . . The decline raises the risk the retrenchment following the expiration of the tax credit will be deeper than anticipated. . . […]

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