JBS CEO Art Thompson's video news update for February 6-12, 2012.
The news released by the Bureau of Labor Statistics (BLS) on Friday appeared to be all good: The unemployment rate was down by 0.2 percent to 8.3 percent, the lowest since the month after President Obama was inaugurated. November and December estimates were revised upward. Most private industries showed growth, including 70,000 new business services jobs, 50,000 new manufacturing jobs, and a remarkable 21,000 new jobs in the construction industry. The labor force expanded by 500,000 which appeared to indicate that more people are coming back into the market looking for work.
Marta Andreasen, the courageous former chief accountant of the European Union, will not give up. In 2002 she was fired for refusing to sign off on the European Commission’s accounts. But she has continued to hold the EU politicians and eurocrats in Brussels to account, exposing fraud, waste and corruption on her web site, http://www.martaandreasen.com. In 2009 she was elected as a Member of the European Parliament (MEP) for United Kingdom Independence Party (UKIP), an office she uses to shine the light of exposure on the dark dealings of the EU’s priviledged politicians and civil “servants.” In a January 26 article entitled “MEPs should hang heads in shame over ‘jollies,’” published by Public ServiceEurope, Ms. Andreasen exposed recent records of lavish spending by the eurocrats for foreign junkets.
The Chinese government announced on Monday that it would prohibit its airlines from paying a controversial “carbon tax” on flights to and from Europe imposed by the European Union, putting the continental regime in a tough bind as it seeks assistance from Beijing to tackle the region’s spiraling debt crisis. Unspecified retaliatory measures will be taken if the EU persists, according to Chinese officials, who say the taxes violate international treaties.
For nearly four decades Congress has ensured that federal spending rises inexorably by guaranteeing that every budget item increases automatically each year. And woe to anyone who seeks merely to reduce these automatic increases, for he shall be labeled a heartless, slash-and-burn budget cutter!
The Obama administration on Friday accelerated efforts to tame unemployment among U.S. veterans by calling for a new conservation program that would put service members — specifically those returning home from the wars in Iraq and Afghanistan — to work rebuilding roads, trails, and other projects on public lands.
When Hollywood film director James Cameron (Avatar, Titanic, Terminator) announced that he was moving to New Zealand, preppers, fiscal doomsayers, and alarmists had a field day in deciphering his motives for moving, ultimately deciding that Cameron was moving so that he is better able to weather the massive monetary upheaval that is upcoming or he is escaping U.S. taxes and regulations.
Congress has the constitutional authority to approve the Keystone XL pipeline project.
Just when CoreLogic, the California-based mortgage data provider, began to wax optimistic about the housing market, the Census Bureau and the S&P/Case-Shiller index doused their enthusiasm with some cold facts and daunting data.
“We need a larger firewall.” So declared Christine Lagarde, Managing Director of the International Monetary Fund (IMF) during a speech in Berlin on January 23, 2012, in which she called on taxpayers of the world to chip in $1 trillion to the IMF to stave off a global crisis. “We need to act quickly or else we could easily slide into a 1930s moment,” Lagarde warned, in an obvious reference to the Great Depression.