Filed under: Capitalism, Democrat Corruption, Economy, Politics, Taxes, The United States | Tags: Economic Illiteracy, ObamaCare Fail, There Goes the Unemployment Rate
- The election results were announced, and the American economy responded. The Dow Jones Industrials promptly dropped by 300 points, and American business spoke:
Mass layoffs (over 50 employees) were announced by the following companies. They are required by law to give advance notice of the expected pink slips. More to come.
- Advanced Micro Devices (AMD) – 20-30% of 11,347 employees
- Ameridose – “hundreds”
- Anniston’s Chemical Weapons Incinerator – 50
- Boeing – 30% of management jobs
- Boston Scientific – 1,200 – 1,400+ shifting jobs, workers to China
- Bristol-Myers – 480
- Caterpillar will close Owatonna MI plant
- Cigna Companies – 1,300
- Corning – 100 in Erwin, NY
- CVPH Medical Center
- Darden Restaurants will shift to part-time workers (28 hrs)
- Garelick Farms
- Groupon – 600
- Hawker Beechcraft – 400, closing facilities in AK, AZ, TX, KS
- Husqvarna – 600
- Lightyear Network Solutions
- Majestic Star Casino and Hotel
- Mills Manufacturing
- Momentive Performance Materials – 150
- OCZ Technology
- Pepsi – 4,000 ( ending 401K matching, Possible salary freezes
- RIM (Research in Motion) – 200 at Hdqts.
- Rocketdyne – 100
Filed under: Capitalism, Democrat Corruption, Economy, Election 2012, Energy, Freedom | Tags: Economic Illiteracy, Obama Kills Jobs, The Occupy People Were Wrong
Here are a couple of important polls that clarify what people are thinking:
— From Gallup: “In the U.S., Fear of Big Government at Near-Record Level”
Sixty-four percent of Americans say that big government will be the biggest threat to the country. The Occupy Wall Street movement, focused on “fighting back against the corrosive power of major banks and multinational corporations” made a lot of noise and mess, but the majority of Americans are not particularly concerned about big business or even big labor. They’re worried about Big Government.
— Also from Gallup: The vast majority of Americans believe that they are members of the “haves” rather than the “have-nots” Sorry, Occupy movement the “99%” is only about 34% of the population. Even 52% of the unemployed consider themselves “haves.”
— Obama’s Keystone XL Indecision is Already Costing Jobs: 60 employees at a Little Rock, Arkansas steel pipe manufacturer are now out of work as a result of the president’s indecision. This is aside from the 20,000 union construction jobs that are shovel-ready at no cost to the government and U.S. Taxpayers. Obama’s Big Green supporters are opposed to the pipeline — just because.
— Big Green Groups’ Attack on Fracking Based on Bad Science. After admitting that there is no documented evidence of groundwater contamination from a technique used to extract oil and gas from shale deposits, the EPA tries to manufacture a crisis in Wyoming.
— Václav Havel, former president of Czech Republic, Champion of Liberty, man of great courage, has died at age 75. Havel spent years behind Communist prison bars for resisting the Party’s dogmas. He was catapulted from prison to the presidency of post-Communist Czechoslovakia in 1989, he resigned the office in 1992 because the country’s break-up into its Czech and Slovak components had not been put to a popular vote. Returned to the presidency of the Czech Republic in 1993, he served another decade andbecame a statesman-celebrity and spokesman for freedom. R.I.P.
— “Fact-Checking President Obama on “Trickle-Down” Economics“
Democrats simply cannot let go of this mischaracterization of conservative tax policy, but the facts refute Obama’s claim that these policies were a failure. Here’s ammunition for that argument with the Liberal in your family. Just the facts.
— The Horrifying Chart that Democrats and RINOs Don’t Want You To See, from Doug Powers. The Obama/Pelosi/Reid “one-time Stimulus Package” was built into the baseline so each year that the Obamacrats can avoid writing a budget is another year that this cash furnace can continue to burn your children’s and their children’s money.
— Air of Desperation in Democrats’ Attempts to Roll Back Voter Laws. You and I have to show our driver’s licenses every time we go to the grocery store, cash a check, buy a ticket, pay for something, or dozens of other times in ordinary life. Democrats are attempting to claim that requiring photo I.D. is tantamount to Jim Crow laws, that it is an infringement on the right to vote, and that somehow minorities or people of color are incapable of obtaining free photo identification cards because Republicans don’t want them to vote. Democrats have a strange tendency to claim that minorities are stupid and helpless right before an election. If I were a minority it would really annoy me.
Filed under: Domestic Policy, Economy, Progressivism, Taxes | Tags: "Cash for Clunkers", $24, 000 a car, Economic Illiteracy
The “Cash for Clunkers” program continues to provide entertainment. It seems that the stimulus program which offered new car buyers a maximum $4,500 (taxable) for turning in an old gas guzzler, cost American taxpayers $24,000 for each new car sold.
According to an analysis by the automotive information form Edmunds.com in Santa Monica, California, the government could have done almost as well if they had just given the cars away.
Now, GMAC Financial Services Inc. and the Treasury Department are in talks to prop up the lender with its third bailout. The U.S. Government is likely to inject $2.8 billion to $5.6 billion of capital into Government Motors financial arm, on top of the $12.5 billion that GMAC has received since Dec. 2008. But they want to keep making loans to people who cannot afford to pay them back. Time to set the brakes.