POLITICS: Unemployment numbers are misleading

Saturday, December 19, 2009

http://www.jibberjobber.com/blog/2009/12/18/unemployment-lies-and-deception

Unemployment Lies and Deception

December 18th, 2009

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As far as I know, unemployment numbers are based on those who are reporting to the government — those who are collecting unemployment insurance.

Guess what… unemployment insurance RUNS OUT. And then, you are so worthless, you aren’t even counted as a statistic! You are essentially written off the books.

Yeah, this really gets under my skin. And we aren’t even talking about UNDEREMPLOYED people!!

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And, don’t forget the underemployed and the old farts who are now “retired” for want of anything better to do.

I fault the gooferment and it’s absolute stupidity.

First, average wage in gooferment is twice that of private industry. Regardless of how they slice and dice the numbers, gooferment workers are in the ascendancy in both quantity and money. TARP — bailout to the banks; should have just let them fail. (Cynically, I’d bet that they’d have figured out how to survive. The bail out of AIG was a direct payoff to Goldman Sachs. The same Goldman Sachs that paid gigantic bonuses.)

Second, every dollar the gooferment “gives” in unemployment benefits has to come from some taxpayer. Remember Basiat and the unseen victim. In this case, we now have four generation of “welfare farmers”. Some of those on “welfare” are rich companies and individuals. Milk and sugar subsidies come to mind.

Third, the poor economy has landed hard on the young and old. Youth unemployment — especially minority — is skyrocketing. And, the older workers are being forced into early retirement; some after burning through their savings from reduced retirement portfolios.

My solution is reduce gooferment. They need to cut, cut, and cut some more. Some entities need to be killed — Agriculture and Education would be my starting point. We need to cut the corporate income tax from 30+ to say ZERO. (Corporations don’t pay taxes. Only real people do. Corps pass them along or go out of business.) When Ron Paul campaigned, he asserted that cutting gooferment back to 1990 levels would allow the income tax to be ZERO.

Not like any of this is going to happen. But I wouldn’t trust anything the gooferment says or does. This included “running health care or health insurance”.

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INTERESTING: A mini-FED to spark the States

Saturday, December 19, 2009

http://motherjones.com/mojo/2009/03/how-nation%E2%80%99s-only-state-owned-bank-became-envy-wall-street

How the Nation’s Only State-Owned Bank Became the Envy of Wall Street
  — By Josh Harkinson | Fri Mar. 27, 2009 5:33 PM PDT

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The Bank of North Dakota is the only state-owned bank in America—what Republicans might call an idiosyncratic bastion of socialism. It also earned a record profit last year even as its private-sector corollaries lost billions. To be sure, it owes some of its unusual success to North Dakota’s well-insulated economy, which is heavy on agricultural staples and light on housing speculation. But that hasn’t stopped out-of-state politicos from beating a path to chilly Bismarck in search of advice. Could opening state-owned banks across America get us out of the financial crisis? It certainly might help, says Ellen Brown, author of the book, Web of Debt, who writes that the Bank of North Dakota, with its $4 billion under management, has avoided the credit freeze by “creating its own credit, leading the nation in establishing state economic sovereignty.” Mother Jones spoke with the Bank of North Dakota’s president, Eric Hardmeyer.

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An interesting way to attack the FED?

Reenforcing State sovereignty to cut into the FED’s action and fiefdom.

As much as don’t like the gooferment, this seems like a good idea.

Fifty mini feds without the power to inflate or to borrow seems better than one big central bank with enormous powers over fiat currency.

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