Some of America’s most diligent Leftists have planned a series of events along the West Coast, targeting banks and the homes of bankers in much the same way that SEIU protested outside the home of Bank of America executive Greg Baer — intimidating Baer’s 13-year old son who was trapped in the house alone. The “Days of Rage” will be taking place at a host of spots in greater Los Angeles and the San Francisco Bay Area.
The groups have circulated a flier that reads “Make Banks Pay” indicates that from Monday September 26 to Thursday September 29, the demonstrators will be doing the following:
While America's President shrinks from facing the demographic catastrophe lurking a decade or two down the road for Social Security, Medicare, and public pensions, there is evidence in Germany that such a debacle might be avoided — and a glimmer of hope in France. Last year French President Nicolas Sarkozy raised the retirement age in his country from 60 to 62 — for which he endured weeks of demonstrations and a lessening of his popularity.
Now his Prime Minister, François Fillon, has suggested that France should place its retirement policy in line with that of Germany, which has voted to increase the retirement age to 67. (That is a year higher than the full Social Security retirement age for Americans born from 1943-1954.) Fillon touched on that subject during a September 22 speech to business leaders in Paris, stressing that in areas of fiscal impact such as retirement age, France needed to dovetail its policies with Germany, the largest economy in the European Union.
Observers who surmised that President Barack Obama’s American Jobs Act was a gimmick designed to make the employment situation look better just long enough for Obama to be reelected — never mind the long-term consequences — have been vindicated.
A recent Associated Press report states that Obama’s plan would at best reduce the unemployment rate by a single percentage point in time for the November 2012 election, after which it would become “a drag on the economy” to the point that “by 2015, the economy [will be] in the same place as now, as if there were no jobs package.” Taxes, meanwhile, will have permanently increased by some $1.6 trillion.
Obama has been careful not to make his own prediction about how many jobs his bill would create, fearing that he would only be sealing his own fate if reality failed to live up to his forecast. Instead, he turned to Mark Zandi, chief economist of Moody’s Analytics, who estimated that the bill would generate about 1.9 million new jobs in 2012, or 158,000 a month, leading to a one-percentage-point reduction in the unemployment rate and a two-percentage-point increase in the gross domestic product. The AP notes that Zandi’s jobs estimate “is somewhat higher than private analyses that suggest the plan would create 100,000 to 150,000 jobs a month.”
The Texas Miracle of Texas Gov. Rick Perry is little more than a Texas-sized myth. That’s the upshot of reports across the political spectrum, Right to Left, that have evaluated Perry’s claims. Chief among the tall tales is that Texas has become a jobs machine. That’s true, but Texans aren’t getting the jobs. Immigrants are. More than 80 percent of the new jobs in Texas went to foreigners, the Center for Immigration Studies reported last week, and 40 percent of those jobs went to illegal aliens.
That is no surprise, given that Perry is an open-borders, leftist Republican, but in any event, other reports show that most of the job growth in Texas came in one sector: government.
Border Jumpers Get the Jobs
Perry’s claim to fame is this:
The announcement by Kaspar Villiger, Board Chairman of UBS (Union Bank of Switzerland), that CEO Oswald Grübel had resigned on Saturday caught many by surprise, partly because just the day before he had said he had the board’s complete support. According to Villiger, “The Board regrets Oswald Grübel’s decision. Oswald Grübel feels that it is his duty to assume responsibility for the recent unauthorized trading incident.” He added:
The Board is deeply disappointed by the recent loss arising from unauthorized trading. It will fully support the independent investigation and will ensure that mitigating measures are implemented to prevent such an incident from recurring.
This wasn’t supposed to happen. On Wednesday, Villiger told reporters that the board was planning on having a “normal meeting,” despite severe criticism by the bank’s largest shareholder, the Government of Singapore, and the stock market’s negative reaction which drove the bank’s stock price to half what it was back in April. Instead, the meeting ran for two full days and continued via conference calls when several of the board members had to leave Friday afternoon.
Thanks to an unnoticed provision legislators slipped into state law 20 years ago, almost two dozen union leaders in Chicago stand to walk off with a cool $56 million in pension money, the Chicago Tribune reported last week. But only if the Illinois legislature does not repeal the provision, detailed in a lengthy report the Tribune conducted with WGN-TV. Three of the union leaders may earn as much as $5 million.
No one seems to know, the Tribune reported, who tweaked state pension law to permit the looting. Or at least no one will accept responsibility.
With the U.S. debt having surpassed 100 percent of gross domestic product August 3, to $14.58 trillion, it’s crudely entertaining to see how multimillionaire lawmakers in Congress and administrations both past and present find “compassionate” ways to spend ever-more of taxpayers’ money. The following is just the most recent example of a “compassionate” expenditure taxpayers don’t need.
On September 10, one day before the tenth anniversary of the 9/11 terror attacks, a piece was published that set out conditions under which the U.S. should (and should not) provide humanitarian aid at taxpayers’ expense, humanitarian projects being by their nature philanthropic.
Just three days later, the Washington Times (one among several other newspapers), ran a story describing how a compassionate George W. Bush was using his namesake institution to jumpstart an initiative combating women’s cancers (cervical and breast) in developing countries, primarily Africa, Vietnam, and Haiti, where such diseases are more rampant than usual due to the high levels of AIDS/HIV. The project is part of the “Pink Ribbon, Red Ribbon,” program, the goal of which is to “expand the services of clinics created under the President’s Emergency Plan for AIDS Relief (PEPFAR),” while the cancers are presumably still treatable.
Former TARP chairman and Senate hopeful from Massachusetts Elizabeth Warren gave a shot in the arm to “progressives” everywhere this past Wednesday, with a rousing (or is it rabble-rousing?) extemporaneous speech on the virtues of taxing the rich. Her commentary quickly made the rounds on the Web and radio talk shows — and for good reason. Whatever this law professor said, she said it pretty darn well. Hey, If President Downgrade could articulate himself like that, he wouldn’t be in a bigamous relationship with a Teleprompter.
Unfortunately, though, style doesn’t connote substance. And Warren’s words, while rousing, were also reality-bending. Here is what she said:
I hear all this, you know, ‘Well, this is class warfare, this is whatever.’ No. There is nobody in this country who got rich on his own. Nobody.
You built a factory out there? Good for you. But I want to be clear: You moved your goods to market on the roads the rest of us paid for; you hired workers the rest of us paid to educate; you, uh, were safe in your factory because of police forces and fire forces that the rest of us paid for. You didn’t have to worry that marauding bands would come and seize everything at your factory and hire someone to protect against this, because of the work the rest of us did.
Former President Bill Clinton says Obama’s approach to taming the federal deficit "is a little confusing" and suggests that raising taxes would blockade any efforts to revive the stale U.S. economy. During an interview with Newsmax CEO Christopher Ruddy in New York, where Clinton held the 10th annual meeting of the Clinton Global Initiative, the former President discussed political topics such as climate change, tax policy, and government regulations. He also mentioned the possibility of his wife, Hillary, running for President in 2016, naming her "the ablest person in my generation."
Clinton conceded to Ruddy that he was somewhat baffled with President Obama’s newly-announced tax plan — the "Buffett Rule" — which would raise taxes on individuals earning over $1 million. "In the speech that the president gave to Congress, he didn’t propose any new taxes. The speech was $250 billion in tax cuts, $250 billion in spending over a period of two to three years. It focused mostly on a rather innovative set of payroll tax cuts and incentives to hire people," Clinton asserted.