President Obama is traveling to Pittsburgh on Tuesday (October 11) to discuss with prominent American business leaders the lingering economic barrier of high unemployment. The gathering will consist of members of the President’s Council on Jobs and Competitiveness (Jobs Council), which was established in January to "provide non-partisan advice to the President on continuing to strengthen the Nation’s economy and ensure competitiveness of the United States and on ways to create jobs, opportunity, and prosperity for the American people."
The Jobs Council comprises 27 Obama-appointed business leaders from primarily corporate entities outside the federal government who are responsible for advising the President "on how the Federal Government can best foster growth, competitiveness, innovation, and job creation." The council includes executives from American Express, Boeing, and Citigroup, and is chaired by Obama’s corporate cohort, CEO of General Electric Jeffrey Immelt.
But many of the Jobs Council’s chief executives have rotten track records of creating jobs, as they have axed expansion projects, terminated entire departments, and slashed thousands of American jobs, despite posting record profits.
In response to AT&T’s proposed acquisition of mobile carrier T-Mobile for $39 billion, the Department of Justice (DOJ) announced it would be bringing suit against AT&T on the grounds the wireless giant is in violation of federal antitrust laws.
In addition to Attorney General Eric Holder bringing suit against the nation’s largest mobile services provider, seven states announced Friday they would be joining efforts to legally halt the merger. Attorneys General from California, Illinois, Massachusetts, New York, Ohio, Pennsylvania, and Washington have signed onto the effort to stop the deal that would merge two of the four largest national cellphone carriers.
The Justice Department issued an amended complaint against AT&T last week, as well as T-Mobile and its parent company, Deutsche-Telekom, arguing that the merger of the nation’s second- and fourth-largest wireless carriers would violate antitrust law and “substantially lessen competition.” The DOJ claims that the combination would reduce wireless communication competition in the United States, driving prices higher, making service worse, and offering fewer products for U.S. consumers.
The department said in the statement,
Item: “European Union foreign ministers are debating a tax on financial institutions that could raise money for the EU as well as make banks share the burden of bailout,” reported the Associated Press for September 17.
Correction: Regardless of what happens to Greece, other nations on the brink of default, or the nature of the next presumed fix being dreamed up by financial elitists, the underlying object is to save the euro — which embodies the goal of a united Europe to globalists. This, in itself, is seen as a way station on the road to world government.
Those willing to trade sovereignty for the promise of stability now find themselves on shakier ground than before, yet they continue to lay the foundation for a new world financial order out of the disorder they have caused.
Wall Street and the Fed demonstrations send the wrong message to average Americans.
Developments relating to the Solyndra debacle continue to surface as newly-surfaced internal government emails reveal that an Obama administration appointee at the Department of Energy (DOE) — and major Obama fundraiser — pushed to expedite a $535-million loan guarantee to the now-defunct solar firm. The emails expose "a disturbingly close relationship" among the White House, top campaign donors, and prominent Solyndra investors, according to a senior congressional Republican.
Steve Spinner, an adviser to the Department of Energy, actively endorsed the loan after agreeing to avoid any "active participation" in the application process, because his wife, Allison, was working for Wilson Sonsini Goodrich & Rosati, a law firm which represented Solyndra. Due to his wife’s association with the company, the DOE had ensured that Spinner would refrain from engaging in "any discussions" relating to the loan details because of a "conflict of interest." In a September 23, 2009 email to a DOE ethics officer, Steve Spinner described active participation as "solicitation, due diligence, [and] negotiations."
Energy Department spokesman Damien LaVera affirmed that Spinner was "authorized [only] to oversee and monitor the progress of applications, ensure that the program met its deadlines and milestones, and coordinate possible public announcements," because of his wife’s relations with Solyndra.
On Monday morning Sentier Research announced the results of its new study showing changes in household income since the year 2000 and how those incomes have fared both during the recent recession and since the recovery that began in June, 2009. Not only did household income (which counts all incomes of all members of the household, including wages, Social Security payments, interest, dividends, welfare checks, retirement income, unemployment benefits, and veterans’ benefits, all adjusted for inflation) decline during the recession by 3.2 percent, it fell another 6.7 percent during the recovery.
The household income index (HHI) — created by two former Census Bureau analysts, Gordon Green and John Coder — has declined by almost 10 percent since the start of the recession, marking “a significant reduction in the American standard of living.” And the decline has been steady, month after month since January 2000, with only nine months out of the 138 months since then showing any improvement.
As noted by Robert Pear in the New York Times, this explains “why Americans’ attitudes toward the economy, the country’s direction and its political leaders have continued to sour even as the economy has been growing.” And even the assumption that the economy really is growing is still unclear. Henry Farber, a Princeton University economist, observed, “As a labor economist, I do not think the recession has ended.
Nearly half the American population lives in a household that receives a payment from the federal government. That’s the latest alarming news from the Wall Street Journal’s Sara Murray, who tracks the federal subsidy programs for the newspaper. According to Murray, the number has steadily increased the last few years, and to some degree coincides with another datum: About half of Americans pay zero income tax.
Democrats in Wisconsin’s State Assembly have asked for the removal of a portrait of Governor Jeremiah Rusk, who in 1886 had ordered the state militia to keep peace during the Bay View Rolling Mill Strike. Seven people were killed during that strike, and labor unions in Wisconsin have gotten their Democrat friends in the legislature to push for taking Rusk’s picture down: "He ordered the National Guard to fire on people who were marching for an eight-hour workday, even though some of those marchers were children. He is the last person we should be honoring in the state Capitol."
John Jagler, a spokesman for Assembly Speaker Jeff Fitzgerald replied: “We have bigger things to be talking about.”
Democrats are trying to link Governor Rusk’s actions 125 years ago to present Governor Scott Walker’s actions to limit what could be subject to collective bargaining for public employees’ unions. Representative Sinicki said: "When Governor Walker proposed his collective bargaining bill, instead of going to the table and trying to negotiate something, he bypassed that whole process and called out the National Guard because he knew there was going to be trouble on this. That is the way I feel about the Republican leadership right now."
Nobody in the Western world has been willing to admit that it is the socialist policies of their governments that have led to the dire economic problems the world now faces. Sir Mervyn King, governor of the Bank of England, revealed how severe the crisis is after the decision was made by the bank’s Monetary Policy Committee to put 75 billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK recession.
The Daily Telegraph quoted the governor: “This is the most serious financial crisis we’ve seen, at least since the 1930s, if not ever. We’re having to deal with very unusual circumstances, but to act calmly to this and to do the right thing.”
“The world economy has slowed, America has slowed, China has slowed, and of course particularly the European economy has slowed,” he said. “The world has changed and so has the right policy response.”
How did we get into this mess? By following the siren song of the socialists who think that the private sector and the taxpayer can pay for more and more socialist programs. And they think that whipping the capitalist horses that drive the economy is the way to get them to support more and more socialist spending. Obamacare is the program that will finally kill the American Golden Goose. Americans will be reduced to a survivalist economy.