Unemployment Soars higher than expected and the Dems solution is throw more money at it!

But of course, is that not what Democrats always do? When a problem arises, they throw more money at a problem and exert more Governmental Control over it; thinking that will fix it?

Anyhow, here is the story; The Voice of America reports:

The White House says America’s employment picture is worse than the Obama administration had anticipated just a few months ago. The somber admission follows the latest jobless report showing the highest unemployment rate the United States has seen in more than 25 years.
U.S. unemployment jumped a half percent in May, to 9.4 percent prompting this comment by Austan Goolsbee, a member of President Barack Obama’s Council of Economic Advisors:
“The economy clearly has gotten substantially worse from the initial predictions that were being made, not just by the White House, but by all of the private sector,” said Austan Goolsbee.
Economists point out that the current jobless rate is already higher than the hypothetical rate that was used to calculate the health of banks and other financial institutions in so-called “stress tests” earlier this year. And, the upward unemployment trajectory is expected to continue in coming months, even if the overall economy begins to recover.

But never fear your Government is on the case! They are going to do, what Government has always done; especially Liberal Governments. They going to throw money at the problem! Woo Hoo! 🙄

The Barack Obama Apologist, Politico reports:

President Barack Obama is announcing Monday that he is ramping up stimulus spending exponentially in the next three months, allowing the administration to “save or create” 600,00 jobs — four times as many as during the first 100 days since he signed the bill.
The spending plans include National Parks, summer youth jobs, veterans’ medical centers, police and teachers.
Obama will make the announcement during a late-morning Cabinet meeting, when Vice President Joe Biden will present a Roadmap to Recovery, which the White House calls “an Administration-wide effort to accelerate implementation of the American Recovery and Reinvestment Act in its second 100 days.”
“As a result of this accelerated pace of activity, over 600,000 jobs are expected to be created or saved by the Recovery Act in the second 100 days,” compared with roughly 150,000 in the first 100 days, the White House said.
While the administration is sensitive to criticism that stimulus spending has been too slow, a new Gallup Poll shows danger in the other direction. For the first time, a majority of respondents disapprove of Obama on the issue of “controlling federal spending” (51 percent to 45 percent), compared to the 67 percent who view him favorably overall.

Here’s what the “Magic One” is going to do with all that money:

Enable 1,129 Health Centers in 50 States and 8 Territories to Provide Expanded Service to Approximately 300,000 Patients – Department of Health and Human Services
Begin Work on 107 National Parks – Department of the Interior
Begin Work on Rehabilitation and Improvement Projects at 98 Airports and Over 1,500 Highway Locations throughout the Country – Department of Transportation
Fund 135,000 Education Jobs Including Teachers, Principals and Support Staff – Department of Education
Begin Improvements at 90 Veterans Medical Centers across 38 States – Department of Veterans Affairs
Hire or Keep on the Job Approximately 5,000 Law Enforcement Officers – Department of Justice
Start 200 New Waste and Water Systems in Rural America – United States Department of Agriculture
Begin or Accelerate Cleanup Work at 20 Superfund Sites from the National Priority List – Environmental Protection Agency
Create 125,000 Summer Youth Jobs – Department of Labor
Initiate 2,300 Construction and Rehabilitation Projects at 359 Military Facilities across the Nation – Department of Defense

Here’s the problem; The President or more specifically our wonderful Government is going do all these wonderful things with money that we don’t even have; because we are barrowing it all from China. After all, did not the President say that we are broke? Yes, he did!

Quotable Quote:

In a sobering holiday interview with C-SPAN, President Obama boldly told Americans: “We are out of money.”
C-SPAN host Steve Scully broke from a meek Washington press corps with probing questions for the new president.
SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?
OBAMA: Well, we are out of money now. We are operating in deep deficits, not caused by any decisions we’ve made on health care so far. This is a consequence of the crisis that we’ve seen and in fact our failure to make some good decisions on health care over the last several decades.
So we’ve got a short-term problem, which is we had to spend a lot of money to salvage our financial system, we had to deal with the auto companies, a huge recession which drains tax revenue at the same time it’s putting more pressure on governments to provide unemployment insurance or make sure that food stamps are available for people who have been laid off.
So we have a short-term problem and we also have a long-term problem. The short-term problem is dwarfed by the long-term problem. And the long-term problem is Medicaid and Medicare. If we don’t reduce long-term health care inflation substantially, we can’t get control of the deficit.
So, one option is just to do nothing. We say, well, it’s too expensive for us to make some short-term investments in health care. We can’t afford it. We’ve got this big deficit. Let’s just keep the health care system that we’ve got now.
Along that trajectory, we will see health care cost as an overall share of our federal spending grow and grow and grow and grow until essentially it consumes everything…

But yet, we are going to throw more money at the jobless problem. But we’re broke? Does anyone else see the problem with this picture?

Local Auto News: Chrysler looking at Bankruptcy

A pretty sad thing to wake up today. However, I am sorry to say this, but I knew it was coming. Chrysler never was able to get their act together; unlike G.M. and get a resolution together.

The Report comes via the Washington Post, I won’t quote the whole thing and I kindly ask that you go over and read the whole thing. But rather, I will give some my impressions from the interesting stuff.

My impressions:

The Obama administration last night planned to send Chrysler into bankruptcy, replace chief executive Robert L. Nardelli and pump billions of dollars more into the effort, all in hopes the company can emerge from court proceedings as a reenergized competitor in the global economy.
Government officials clung to 11th-hour hopes last night that bankruptcy could be averted, but talks broke down with Chrysler’s creditors. A bankruptcy filing could happen as soon as today.
The U.S. government’s attempt to save the automaker amounts to another extraordinary intervention in the economy and a landmark event in the history of the American auto industry.
Under the administration’s detailed court strategy, ownership of Chrysler would be dramatically reorganized, the leadership of Italian automaker Fiat would take over company management and the U.S. and Canadian governments would contribute more than $10 billion in additional funding.
Company and government officials had feared that a bankruptcy would stain the brand, shake customer confidence and erode sales, but the administration said it would seek to use the process to create a new Chrysler company. Its ownership would be divided, with the company’s union retiree health fund receiving a 55 percent stake, Fiat would claim as much as a 35 percent share and the United States would take 8 percent. The Canadian government would receive two percent.

Basically this is what General Motors did voluntarily. Minus the Fiat equation, of course. It is a tough break that the creditors, bond holders, and company management could not come together to an agreement. The main and good thing is, that the automaker, itself, will be saved, and that American jobs will be saved.

Now comes the part that will make people like Sean Hannity, Rush Limbaugh, Michelle Malkin, and the rest of the far right wing people howl at the moon:

The automaker’s current majority owner, the private-equity firm Cerberus Capital Management, would have its holdings wiped out.

Now, to be fair; I will report the truth about this holdings company. This company, from what I have read and have been told; is notorious for buying up struggling companies, like Chrysler and shutting them down and selling off the assets to make money. They have done this in past, from what I told. So, while I hate to see anyone lose their money. I actually am glad to see Chrysler being taken away from this company.

Let me also say this. As an Conservative, who believes in “America First”, and believes that business sometimes have to fail; I am not exactly jumping for joy, when it comes to fact that this auto company is having taxpayer dollars being pumped into it. Nor am I happy at the fact, that a US automaker is having a foreign auto company’s management taking over its operations. However, I believe we must be realistic about such matters. We are not living in the 1950’s any longer, we are in a economic recession of monumental proportions, and if we do not drastic measures quickly, we could see a total collapse of the American auto industry. I also know that there is a undeniable truth that “as Detroit goes, so goes America.” Pat Buchanan and I, have been saying this all along; if allow the big three or in this case, the big two to disappear our Nation’s economy would go into free fall. I shudder in absolute horror at the thought of the far reaching implications of such an event.

I will say, as a devout Paleo-Conservative; If we would have rejected the globalism of the Rockefeller-type conservative types and would have imposed strict trade restrictions on Japanese and other such foreign automotive products, these auto companies would not be in the position that they are today. It is because of the Rockefeller-type, Madison Avenue, Neo-Conservatives, whose mantra is “screw the American middle class”, is the reason we are in this position today. Further more, it is the reason that the world is also partaking in our recession as well. Perhaps President Obama will see the state of our globalist economy and will rethink his position on NAFTA and TAFTA and the rest of those toxic free trade agreements that are in place; and impose strict tariffs on imports that are bleeding our economy dry.

Realistically however, I highly doubt that President Obama will do any of that, because he is trying to run as a centrist, or as I like to call it; he is sucking up to the Neo-Conservative right, as they are his biggest supporters, strangely, after trying so very hard to defeat him in the election. Of course, we Paleo-Conservatives know why this is; because the only difference between a Neo-Conservative and a Democrat is the letter next to the name.

The Worry in my Father’s Eyes (A Personal GM Posting)

As many of you know, I am the son of a retired General Motors worker. Ironically, I am also a Conservative. No, I am not a Republican; or even a formal Libertarian. I am someone that believes that the less Governmental interference in my life, the better. However, there is a place, where my politics ends and a genuine concern for my family begins.

I see that General Motors is going to be taking more money from the Government, and is desperately trying to salvage what is left of that company:

Quote:

General Motors Corp. will get up to $5 billion and Chrysler LLC $500 million in short-term aid, according to a 250-page government report obtained Monday by The Detroit News.
The Detroit News reported Friday that GM would get about $5 billion and Chrysler $500 million, citing an Obama administration official, which prompted a denial from the White House.
The short-term aid figures are disclosed in the report from the Treasury Department’s Inspector General on the $700 billion Troubled Asset Relief Program.
The report was obtained from a congressional source late Monday.

Meanwhile General Motors is is doing its damnedest to rid itself of waste:

General Motors Corp. has started notifying about 1,600 white-collar workers — most of whom work in southeast Michigan — that they will lose their jobs this week as the cash-strapped automaker cuts costs that could help the automaker qualify for up to $16.6 billion in additional federal aid.
The announcement was made by GM North American President Troy Clarke in an e-mail sent to employees today, spokesperson Tom Wilkinson said.
“This is part of really restructuring the company to a smaller, leaner company, one that can, as the (Obama) administration requested, be profitable on an ongoing basis,” Wilkinson said.

While this might be a good thing, there are those out there that believe that this is too little too late:

It’s ironic enough that Italy’s Fiat Auto could end up being the savior for Chrysler. After all, former Chrysler President Bob Lutz once likened Fiat to a dead bride when his old boss, Lee Iacocca, wanted the company to join up with the Italian carmaker. Now, Lutz is at General Motors until he retires in December, and Fiat may help his current employer.
Yes, the Italian carmaker is reportedly in talks with GM about forming a partnership with its European and South American businesses, says Automotive News. How ironic is that? Well, in 2000, GM bought 20% of Fiat Auto for $2.4 billion. Back then, GM was healthy and Fiat was in serious financial trouble. The Italian company was wracked by quality issues. It was so bad that GM actually paid another $2 billion a few years later just to avoid a put option that would have made GM the sole owner of Fiat. GM’s board didn’t want that kind of headache.
But now, after Fiat CEO Sergio Marchionne has fixed the company, he could help save Chrysler in the U.S. and GM in Europe. GM lost $1.5 billion in the Olde World last year, with its Opel and Vauxhaul brands suffering mightily with too many factories. GM is actually doing very well in Latin America, where the auto giant earned $1.3 billion last year. Fiat is pretty strong there, too, so they could make a powerful pair down there. The only catch is that Fiat doesn’t have any cash either. But the alliances will help be getting each company jointly-engineered vehicles and sharing parts.
The bottom line: Fiat is not a great carmaker by any stretch. But Chrysler and GM are in so much trouble that anyone could help at this point. Even Fiat.

Which brings me to my point; have any of you really looked at your Father? I have. I see worry in his eyes. I see worry in both my parents eyes. The questions my parents are facing, as they enter into their golden years are unfathomable, for someone my age. Will my parents lose everything that my father worked hard to obtain? We are talking 31 years worth of blood, sweat, and tears. My Father earned every damned last penny. I dare some idiot beltway type to say otherwise.

I have been a critic of the Obama Administration for much, as of late. However, I will give him credit for one thing. The President is looking out my Father. I just hope he does not throw my Father under the bus, as he has many others in his short time in the White House.

Some of you might look at this posting and call me some sort of a hypocrite. That is your right as an American.

However, if you could only see my Father’s eyes; you might just might be able to understand.

An Interesting Movie

I post this because I believe that it is interesting. Alex Jones has always struck me as a kook. Someone amongst the “Tin Foil Hat” crowd. However, it is something interesting to watch.

Enjoy…

What do you think? Do you think that there is any truth to this?

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A New Parody "Barry's Farm"

Here’s the Original Song:

Update: It seems that some Fascist Socialist Liberal twit keeps going around getting my video yanked. No biggie, if they yank it. I will find it elsewhere and put it up. This is America and not fascist Germany and I have the RIGHT to express my opinions about the President and his fascist polices. You liberals don’t like it? TOUGH SHIT! 😡

History about the song and concert

New Lyrics:

Barry’s Farm

(Sung to the tune of Maggie’s Farm by Bob Dylan)

Written by Paleo Pat

I ain’t gonna work on Barry’s farm no more.
I ain’t gonna work on Barry’s farm no more.
Well, I wake up in the morning,
Fold my hands and pray that I might keep my gain.
I got a bill full of Taxes
That are drivin’ me insane.
It’s a shame the way he makes me tip the whore.
Naw, I ain’t gonna work on Barry’s farm no more.

I ain’t gonna work under Barry’s Law’s no more.
I ain’t gonna work under Barry’s Law’s no more.
Well, he hands you a Dollar,
Taxes you a dime,
Looks at you with a grin
While robbin’ you fuckin’ Blind,
Then he taxes you every time you open the door.
I ain’t gonna work under Barry’s Laws no more.

I ain’t gonna be a slave for Barry’s Government no more.
No, I ain’t be a Slave for Barry’s Government no more.
Well, he puts a Tax Bill
in your face just for kicks.
His White House
It is made out of Bricks.
The Secret Service stands around his door.
Ah, I ain’t gonna be a slave for Barry’s Government no more.

I ain’t gonna work for Barry’s Bitch no more.
No, I ain’t gonna work for Barry’s Bitch no more.
Well, she talks to all the people
About Equality and Race and Law.
All the while the workin’ people
Are payin’ for other peoples bad calls
She’s a lying thief, but she says her honesty stands tall.
Naw, I ain’t gonna work for Barry’s Bitch no more.

I ain’t gonna work on Barry’s farm no more.
I ain’t gonna work on Barry’s farm no more.
Well, I try my best
To do the best I can,
But everybody wants you
To pay thier bills for them.
They eat steak while you slave and I just get bored.
I ain’t gonna work on Barry’s farm no more.

Breaking Local News – G.M. to offer buyout packages to all union employees.

This is interesting…:

General Motors Corp. will offer buyouts to all of its hourly employees, a spokesman confirmed Tuesday, as the troubled automaker continues to slash costs.
GM spokesman Tony Sapienza said the buyouts will mainly target GM’s 22,000 retirement-eligible hourly employees, though any union employee can take the offer.
News of the buyouts first broke on Monday. A union official told The Associated Press then that GM would offer $20,000 in cash and a $25,000 car voucher for workers who retire early and those who simply leave the company. The official spoke on condition of anonymity because workers were not yet notified of the packages.
via GM To Offer Buyouts To All Hourly Employees — WDIV Detroit.

Just another sign of the times. For the record, G.M. has done this in the past, when times were bad. Hopefully some of the guys that have been with the company and are about ready to retire will take this buy out. Hopefully, this will help the problem and G.M. will become viable.

So now they are listening to him.

I’m shocked.

From Lew Rockwell (hover over this to watch)

Toyota is feeling the pinch too.

So much for that stupid Neo-Con line saying that the slump in auto sales is the automakers fault.

Via the New York Times:

TOKYO — Toyota Motor will idle its plants in Japan for 11 days in February and March to reduce output in the face of steeply declining global vehicle sales, the company said Tuesday.
The Japanese auto giant said the suspension would affect production at all 12 of its directly operated domestic plants, which include four vehicle assembly plants and also factories that make transmissions, engines and other parts. The closings are in addition to a three-day shutdown this month at these plants that Toyota had already announced.
The move is unusual for a company that just a few months ago seemed unable to keep up with voracious global demand for its fuel-efficient vehicles. But even strong players like Toyota have failed to escape the drastic slowdown in the global auto industry.
The company said it would idle the plants to reduce stocks of unsold vehicles amid a relentless slide in sales, particularly in the United States, its biggest market. Last month, Toyota’s sales there dropped 37 percent, a larger decline than at its struggling American rivals General Motors and Ford.
Plunging sales and a stronger Japanese yen, which reduces the yen value of overseas profits, forced Toyota to forecast last month its first annual loss in 70 years at its vehicle-making operations.
Toyota did not say how many vehicles would be affected by the suspension announced Tuesday. The company said its four domestic assembly plants produced 1.5 million vehicles in 2007, the most recent year for which the company has figures. Toyota-brand cars are also made by other companies in the Toyota group.
The company had already announced that it would shut down truck production at two United States plants for three months
Its American rivals — General Motors, Ford Motor and Chrysler — have also idled plants across North America in response to the slowdown.

For once, I am in agreement with a Liberal, and yes, it is the same knuckle-headed liberal that insulted Conservatives. Hey, I am one that praises when it’s due and bitches when it’s due too; At least I’m fair. 😉 😀 😛

Matthew Yglesias Weighs in:

This is the conceptual problem with efforts to “save” the car industry through bailouts or union busting or whatever you like. One assumes demand for cars will get higher than it is right now, but the industry has a whole just has more capacity to build cars than there is demand for new cars. Which is fine. When you look across the developed world and try to take stock of the medium- and long-run problems facing the OECD nations there’s just no way you’re going to reach the conclusion that an automobile shortage is a big concern. But obviously it’s not fine for the companies that make cars. There’s going to be a need for some shrinkage.

Yeah, I know, most likely some of the Conservatives who are basically scraping my blog for content are going to try and deride me as a fake conservative, because I stick up for the middle class and because I happen to be the son of retired General Motors Worker and U.A.W. member. Well, I got two words; screw you and the rest of the asshole Madison Ave. Conservatives. 😡

Anyhow, I happen to agree with Matthew here, I live here in the Detroit Area. If the auto industry dies, so does this area. That will cause my parents to suffer, they need the health insurance, as they are both diabetic and the amount of medications that they take is staggering. Anyhow, this article above disproves and basically strikes down the “Meme” that was going around in the Conservative Blogosphere that the issues with the auto industry was the fault of the automakers. Which I totally dismissed as abject bullshit of the highest order. It was the fault of President Clinton for putting pressure on the loan companies to give those toxic subprime loans to those who were considered high risk. That is what started this whole thing. Of course, equal blame can be given to the Republican Congress of 2003 for not changing the laws, after all, they were warned by the Bush White House to do something; and they did nothing at all.

Best thing they could do, was have a hearing, of which the CEO of Freddie Mac pulled the race card, and congress backed off. So, all the blaming of the Auto Companies was nothing more than a feeble attempt by the Republicans at scapegoating the wrong damned people.

Here’s hoping that Japan’s auto industry totally collapses and people, both American and otherwise, have to buy American products, for a change!

More Signs of the Hard Times Ahead

This is just not a good thing, at all. 🙁

Via the New York Times:

With unemployment claims reaching their highest levels in decades, states are running out of money to pay benefits, and some are turning to the federal government for loans or increasing taxes on businesses to make the payments.
Thirty states are at risk of having the funds that pay out unemployment benefits become insolvent over the next few months, according to the National Association of State Workforce Agencies. Funds in two states, Indiana and Michigan, have already dried up, and both states are borrowing from the federal government to make payments to the unemployed.
Unemployment taxes are collected by states from employers, but the rate varies from state to state per employee. In good times states build up trust funds so that when unemployment is high there is enough money to cover the requests for benefits, which are guaranteed by the federal government.
“You don’t expect the loans to happen this early in a jobs slump,” said Andrew Stettner, the deputy director of the National Employment Law Project, an advocacy organization for low-wage workers. “You would expect that the states should, even when they are not well prepared, to have savings.”
The Labor Department said last week that initial applications for jobless benefits rose to 573,000, the highest reading since November 1982. It is recommended that states keep at least one year of peak-level benefits in their trusts, but many have not, and already some states are far worse off than others.

Yet more of the ripple effect in the Nation’s Economy. Of course, I could sit here and blame the Democrats or the Republicans. But honestly, who is really to blame here? I personally think it is the fault of both parties really. First off, it is the fault of the globalist Neo-Cons who would rather ship jobs overseas for cheaper labor, than to keep the jobs here on Terra Firma. Second, it is the Democrats, with Bill Clinton putting pressure on the lending companies to offer high risk loans to those, who normally could not afford them. Put simply, it was a system that was set up upon risk and it ultimately failed.

So, now we’re stuck with states with extremely high unemployment rates and states who are having to ask the Federal Government for help to support these people. Now some of my more purist fellow Libertarians would essentially say, “Screw ’em! Let ’em suffer!” But seeing I am from the area, and I do admit to being more a moderate, I do not hold to such asinine views.

I personally think that the worst thing that our Government can do is throw up their hands and panic. Throwing more legislation and huge amounts of money at the problem will not work. The Wall Street Bailout proved that. I think, as a moderate, the best thing that the Federal Government can do is give the States that need the help the funds to keep the unemployment programs running and try the best they can to weather out the storm. The Economy is not going to stay horrible forever, we had a recession in the 1980’s, which was a result of some of the stupidity of the Carter administration. We weathered that storm out and recovered, I believe that we will do the same here. Yes, there will be hardships for a while, but in the end, we will prevail. We always have and will always will.

Local News: It is not just the big three feeling the pinch

It seems that the big three are not the only automakers feeling the pinch.

Via Detroit News:

Honda Motor Co. is reducing production in North America by a further 119,000 vehicles in its fiscal year ending March 31, the company said Friday. Honda previously had announced output cuts of 56,000 vehicles for the year.
The Japanese automaker now expects its full-year output in the region to dip to 1.29 million cars and light trucks, from its original target of 1.47 million.
Production is being cut across the board, with output reductions planned for small as well as larger vehicles, company spokesman Ed Miller said. “Showroom traffic is down for everyone,” he said. “The dealers just aren’t in a position to order the number of cars they had been ordering.”
Production cuts are scheduled for Honda’s plants in Alabama, Ohio, Indiana and Canada, but the company does not plan to lay off any workers.

So much for the idea that the big three are causing their own problems. Looks like the Japanese are feeling the pinch too. I would be willing to bet that you will not be seeing this blogged on any other Conservative Blogs. Because that would mess up the message that it is the Unions fault that G.M. and Chrysler are in the shape that they are in.

Of course they are not going to lay anyone off, the Japanese have all that extra money laying around, they can pay those people to work. They have made it by stealing market share away from the America Workers.

It truly is a pity, those bastards bombed Pearl Harbor in 1941. We defeated them, but they really won the long war, by stealing our jobs and market share, aided and abetted by Globalist Neo-Conservatives, who’s only concern was to make a quick buck.