Top News
Sat Sep 4
Heres The Real Problem With Labor Unions
Clusterstock [HERES]
As everyone should know by now, my main concern with unions is specifically with public unions. While I do not care for unions at all, and never have, at least with private unions, someone other than corrupt politicians buying votes is bargaining at the other end of the table.In the case of public unions, if politicians strike a bad deal, taxpayers foot the bill. In the case of private corporations, if management strikes a bad deal, the company goes bankrupt, shareholders take a hit, or the [...]
Clusterstock [HERES]
As everyone should know by now, my main concern with unions is specifically with public unions. While I do not care for unions at all, and never have, at least with private unions, someone other than corrupt politicians buying votes is bargaining at the other end of the table.In the case of public unions, if politicians strike a bad deal, taxpayers foot the bill. In the case of private corporations, if management strikes a bad deal, the company goes bankrupt, shareholders take a hit, or the [...]
Sat Sep 4
Welcome To The Worst Labor Day In History
Clusterstock [LABOR]
Welcome to the worst Labor Day in the memory of most Americans. Organized labor is down to about 7 percent of the private work force. Members of non-organized labor - most of the rest of us - are unemployed, underemployed or underwater. The Labor Department reported on Friday that just 67,000 new private-sector jobs were created in August, which, when added to the loss of public-sector (mostly temporary Census worker jobs) resulted in a net loss of over 50,000 jobs for the month. But at l [...]
Clusterstock [LABOR]
Welcome to the worst Labor Day in the memory of most Americans. Organized labor is down to about 7 percent of the private work force. Members of non-organized labor - most of the rest of us - are unemployed, underemployed or underwater. The Labor Department reported on Friday that just 67,000 new private-sector jobs were created in August, which, when added to the loss of public-sector (mostly temporary Census worker jobs) resulted in a net loss of over 50,000 jobs for the month. But at l [...]
Fri Sep 3
Huffingtonpost [OBAMA]
Last Friday, as I predicted in my August 6 and August 24 Huffington Post blogs, the Obama Administration, right on queue, released the latest Small Business Administration (SBA) fiscal year (FY) 2009 Small Business Procurement Scorecard. Anyone in the media can tell you that releasing information late on a Friday afternoon is a technique used by the government when trying to bury or hide negative news, and it worked fairly well in this case. So as expected, the Obama Administration tried to bu [...]
Fri Sep 3
Huffingtonpost [WALL]
Its no surprise that Gov. Arnold Schwarzenegger has taken his attack on public employee pensions to the Wall Street Journal, the paper of record for the big banks and giant corporations whose greed and recklessness put at risk the retirement savings of all Americans. After all, here in California his administrations tired arguments, misplaced blame, and selective use of statistics have worn thin with a public who knows that hard-working public employees like nurses, college professors, and chi [...]
Fri Sep 3
Market Update
Fso [MARKET]
Tim W Wood CPA. "Of late there has been a lot of attention on the Hindenburg Omen and the excessive number of 90 volume days. I’ve been receiving e-mails and phone calls asking me about this and how it affects my work. In short, it doesn’t. Here’s why." [...]
Fso [MARKET]
Tim W Wood CPA. "Of late there has been a lot of attention on the Hindenburg Omen and the excessive number of 90 volume days. I’ve been receiving e-mails and phone calls asking me about this and how it affects my work. In short, it doesn’t. Here’s why." [...]
Fri Sep 3
Huffingtonpost [RECESSION]
Are we headed into a "growth recession?" Speaking with CNBC Europe from Lake Como, Italy, Nouriel Roubini, the widely followed chairman of Roubini Global Economics, predicted that the U.S. economy will continue to grow modestly, but that it will continue to feel very much like a recession. "The second half of the year is going to be worst than the first," Roubini. "All the tailwinds will become headwinds" By the end of the year more than 400 of the 800-plus in [...]
Sat Sep 4
Econlog.econlib.org [OIL]
Terry Hazen, a microbial ecologist at the Lawrence Berkeley National Laboratory who published a groundbreaking study of microbial activity Tuesday in the online research journal Science Express, has had a team of researchers out in the Gulf since May 25 collecting water samples. They noticed a dramatic drop-off in the amount of oil in the Gulf immediately after the well was idled July 15, and now they cant find any oil in the ocean. This is from an August 24 news story in the New Orleans Times-P [...]
Fri Sep 3
Huffingtonpost [CRISIS]
The August unemployment numbers are ugly, yet again. Nearly 30 million Americans are still jobless or forced into part-time jobs. The Bureau of Labor Statistics official unemployment rate is 9.6. Its borader and more telling jobless rate (U6) of 16.7 confirms that were stuck in our own version of the Great Depression. Well need more than 22 million new jobs to bring us back to full-employment. Happy Labor Day. To get out of this quagmire well have to face up to two fundamental facts: 1. We [...]
Sat Sep 4
7 Weak Spots In The Employment Report
Clusterstock [REPORT]
David Rosenberg rains on the bull parade and explains why the employment report was more bearish than the market response: But there were many other parts of the nonfarm report that left much to be desired. Here's an unlucky seven examples of softness beneath the surface: 1. Aggregate hours worked were flat. 2. All the employment gains were part-time - full-time employment, as per the Household Survey, plunged 254,000. 3. Those working part-time for “economic reasons&a [...]
Clusterstock [REPORT]
David Rosenberg rains on the bull parade and explains why the employment report was more bearish than the market response: But there were many other parts of the nonfarm report that left much to be desired. Here's an unlucky seven examples of softness beneath the surface: 1. Aggregate hours worked were flat. 2. All the employment gains were part-time - full-time employment, as per the Household Survey, plunged 254,000. 3. Those working part-time for “economic reasons&a [...]
Fri Sep 3
Econlog.econlib.org [ARNOLD]
Megan McArdle writes, Politically, this has one major drawback: its going to put huge holes in the Social Security and Medicare trust funds. Since I think those trust funds are meaningless accounting devices, I dont think this has any practical relevance. But as you will be able to see in my comment section about twenty minutes after I hit "post," people have a very deep emotional attachment to the idea of the trust funds, which politicians cannot easily trifle with. Really? I have [...]
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