Economic Fiction
Suppose you sat down at a blackjack table and were dealt the ace and jack of spades. You turn over the cards and proclaim that you’ve got blackjack. But the dealer announces that from now on, the winning hand is 30, and you’ve lost. You’d be mighty confused. So imagine how confusing it is that the gross domestic product (GDP) — the output of goods and services produced by labor and property located in the United States — is running at an annual growth rate of 1.8... Read More
Michigan Congressman Thaddeus McCotter Evaluates ‘Victory’ in Afghanistan
Neal Asbury’s first guest was Congressman Thaddeus McCotter (R-MI) who represents Michigan’s 11th District, comprised of the citizens of Western Oakland and Western Wayne Counties. Congressman McCotter has focused his efforts on preserving and promoting manufacturing and small businesses. He serves as Chairman of the Republican House Policy Committee, a leadership position once held by Vice President Dick Cheney. Congressman McCotter is also a member of the House Financial... Read More
Recovery Cover Up: Temp Jobs
When talking about truth, are we really going to believe that jobs are being created because the economy added 162,000 jobs in March? The truth is that most of those jobs were temporary positions with the Census Bureau. Those aren’t jobs. Those are federal paid internships. And by this fall, those jobs will disappear. You know what other jobs will be disappearing? State jobs, because states need to shed workers to deal with huge budget deficits. Already in March, state and... Read More
Invisible Jobs and Shadow Unemployment
Following the Obama Administration’s proclamation that jobs are being created is like being a Ghost Buster – we are chasing invisible jobs! If there are 640,000 new jobs created under the stimulus package, as the Obama Administration contends, then they must be in the witness protection program. The latest labor figures from The Wall Street Journal suggest that if we factor in December’s loss of 85,000 jobs, then between December 2007 (when the recession began) and December... Read More
