Progressive Policy: No Progress, Anywhere

Posted: May 04, 2014 12:01 AM
Progressive Policy: No Progress, Anywhere

David206 wrote: Again .. You get the facts wrong ! NOT ONE DROP OF KEY STONE is for the U.S.A. All the oil is spoken for by Asian countries ALL OF IT !!!!! I fact if the pipe line is built , we will see an INCREASE of Gasoline and Diesel of at least 40 cents. Why? I'd tell ya but go look it up yourself I did.--Another Oil Train Explodes in Town; River Contaminated: Who Wants Keystone Now?

Dear Comrade 206,

Again…you have your punctuation wrong!

Oh yes, another proponent of Common Core math.

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Question: If Johnny has 18 billion barrels of oil, and Mary adds 2 billion barrels of oil, how much can we tax the racist white men for their exploitation of ancient fossil burial grounds, black people and the transgendered?

Answer Key: At least $.40 more!

There is only one group of people standing in the way of this country, this economy and this people making progress. And that group is Progressives.

The facts are not on your side. This is the same math that has brought us a GDP print just short of contraction for the first quarter of 2014 at 0.1%. And since it subject to revision, there's a possibility that we may have had a contraction-- that is a recession, albeit short-lived so far-- in GDP when the statistical dust finally settles.

As the Washington Post points out in their Wonk Blog, construction spending, which is a major portion of GDP, has likely been overestimated. And the same can be said for retail sales, which was revised downwards.

“Do the math,” writes the Post, not known to be unfriendly to whatever bogus number the administration puts out, “and you’ve got an economy that contracted by 0.1 percent in the first quarter -- and that might be the optimistic case. Barclays economist Cooper Howes said his calculations show a 0.2 percent decline. In either case, it would represent the worst performance for the recovery in three years.”

This is the same math that allows the administration to claim 8 million people signed up for Obamacare, when in fact, only about 2.5 million people paid premiums to actually complete their “sign-up.”

When WorldCom used this kind of math, Bernie Ebbers got 25 years.

Were I running for Congress or the United States Senate, my platform would be to amend every piece of legislation with the final words “All portions of the above legislation shall apply equally to the government of the United States of America and its employees.”

Because this the same math that has unemployment plunging to 6.3%, which is just short of “full employment” according to the Federal Reserve Bank, yet employment underutilization is growing not shrinking.

Real unemployment is more like 23%.

As we noted on Ransom Notes Radio, one in five households is absent a member that has a job.

Please explain to me exactly how that is anything like full employment?

Punctuation is optional.

Indisbelief wrote: Just throwing oil out on the market will not bring down the price. Keeping the oil here at home and causing a local glut will keep the price down. Just as the situation with Steel City. Oil used to flow from Texas to steel City but then Keystone was built for the Canadian oil. The oil backed up at Steele City and caused a glut. The price of fuel was .40- .60 cents a gallon cheaper than the rest of the country. Now that the keystone from steel City, through Cushing, to Texas has been reversed there is no more glut at Steele City and no more depressed prices. The Bakken oil will never be destined for U.S. market--Another Oil Train Explodes in Town; River Contaminated: Who Wants Keystone Now?

Dear Comrade InDisNeyLand,

Please step away from the bong now.

Seems like more and more of the Townhall trolls will work for weed.

I don't really understand your point, Comrade Dis.

But then of course neither do you.

The Keystone pipeline has not been built. So I'm guessing that you're talking about some other pipeline that was built. Let's pretend that you were, just for the sake of reality therapy.

So let's establish your premise, as hard as it may be: 1) keeping oil here at home will lower prices; 2) not keeping oil here at home will raise prices and 3) shale oil will not stay here at home.

I don't really care about prices as long as the product is an American product. But I will observe this: currently oil prices are determined by a cartel. If America develops its energy resources, as I have written extensively about since joining TownhallFinance, the energy balance of power switches to the United States worldwide.

Don't just take my word for it. In December 2012, PwC issued a report out of their London based branch that essentially backed up the data that I have produced regarding GDP growth, employment and energy production.

PwC estimates that if shale oil is fully developed, US Gross Domestic Product could grow an additional 2-5 percent per year --that’s $300 to $800 billion in extra growth…every year…compounded-- greatly reduce the influence of OPEC, lower global energy prices, and ---with NatGas thrown in-- add at least a million jobs to manufacturing that are now just going to energy costs.

That means- I’m saying this, not PwC- that we could significantly reduce the deficit, without drastically cutting benefits for a generation of Americans who have planned to count on those benefits. It means-- I’m saying this, not PwC-- we don’t have to raise taxes. Actually, it means we could go to some sort of a simplified tax code, like the fair or flat tax.

Along the way, the U.S. would create at least 10 million new U.S. jobs in ten years, plus keep an average of $500 billion per year here at home yearly. Over twenty years that would be an additional $12.5 trillion in GDP even at a modest 2 percent growth rate. At 4 percent, the numbers are closer to $15.5 trillion.

And that's the reason why I'm not really worried about the price of oil in this scenario.

By keeping the money here at home, it adds to our GDP, our national income, and here is the coolest part: that money compounds throughout our entire economy.

Do think the average Saudi worries about the price of oil?

Yes they do. They want it high.

Ask yourself “why?”

Wendal wrote: Just shows we need to get rid of oil period and just have renewables. Then we wouldn't have to worry about derailments or leaking pipe lines. --Another Oil Train Explodes in Town; River Contaminated: Who Wants Keystone Now?

Dear Comrade Wendal,

The International Energy Agency estimates that worldwide about 13% of all energy production comes from renewables. That number however is highly deceptive because it includes bio fuels such as ethanol.

It also includes, um, wood.

“In its various forms, from sticks to pellets to sawdust, wood (or to use its fashionable name, biomass) accounts for about half of Europe’s renewable-energy consumption,” observed the Economist, which, like the Washington Post is not known to be unfriendly to progressive ideals. “In some countries, such as Poland and Finland, wood meets more than 80% of renewable-energy demand. Even in Germany, home of the Energiewende (energy transformation) which has poured huge subsidies into wind and solar power, 38% of non-fossil fuel consumption comes from the stuff. After years in which European governments have boasted about their high-tech, low-carbon energy revolution, the main beneficiary seems to be the favoured fuel of pre-industrial societies.”

The driver behind this phenomenon is that the EU, in their infinite stupidity, mandated a target of 20% energy production from renewable sources, kind of like you saying “Just shows we need to get rid of oil period and just have renewables.”

Biofuels such as ethanol and wood are really just fossil fuels that haven't been fossilized yet. And by the way fossilization is the reason why fossil fuels have denser energy content than ethanol and wood.

Only Progressives would think that fueling our civilization in the same manner Cro-Magnon man did is progress.

sclaus wrote: Dow Jones just hit 16,580. It was around 8,000 when George Bush left office. That's all we need to know about the economy.--Blame Donald Sterling for the Economy

Dear Comrade Claus

Okay then let's judge Obama when he leaves office.

But I would like to point out this: the Dow Jones Industrial average is not the economy.

The economy is actually made up of real people, like that guy down the street who can't find a job. Or that person whose hours were cut because of Obamacare. And that lady who lives across the street who can't make ends meet without speculating in the stock market, because interest rates for a fixed income portfolio are way too low.

When I was a stockbroker there were people who came to see me for whom stock market investments were not appropriate, like that old lady down the street.

And this is more than just a philosophy.

It's actually the law.

The job of a stockbroker is to match investment suitability to individual clients.

Today investment advisors have no other choice than to put these old ladies in investments that have more risk because the government in its insatiable appetite for money needs to keep interest rates low.

And if this market goes south, if those old ladies are hit, which surely they will be, as interest rates start to go back up, that's when your friends like Obama will go after stockbrokers and investment firms saying “Why did you sell these investments to these old ladies?”

Today they are suing banks, like Bank of America, for loans in their portfolio that the government forced them to buy, from firms that created the loans out of a government policy that said everyone should have the ability to buy a house.

The rodeo never changes, even if the clowns do.

Kirk72 wrote: JR, you do understand we will all have nightmares about clowns now. -- Obama's Just Another Clown in the Fast Food Economy

Dear Kirk,

You’re welcome.

David296 wrote: Go ahead Toyota, move to Texas and in five years you'll be importing a qualified from everywhere but Texas. -- Another Company Abandons California

Dear Comrade 296,

I'm guessing you left out the word employees.

Yes, Texas is so dumb that they have somehow figured out how to create almost twice the economic growth that the Obama administration has. How dumb does that make Obama?

In 2012, Texas GDP grew at 4.8%, versus 2.5% for the rest of the economy.

By 2011, according to the Texas Comptroller of Public Accounts, Texas had made up all of the job losses from the great recession.

Texas is so dumb, that single-family housing permits are growing at a rate of by about 12% year-over-year.

What is it with people from California?

I get it there's a great deal of natural beauty there. But as we see from Comrade 296, there's also a great deal of natural stupidity.

Merbock wrote: OK, that has hit my personal limit for intrusiveness. I didn't really mind when you, unlike most of the columnists here, cut your articles in half so that a second shot at your ads was displayed. I didn't even mind some of the huge popup ads that loaded before your column, because they had a big ''X" in the corner to dismiss them. Today was the last straw. I could not even begin to read your column, because a popup for a 'vote' on minimum wage turned out to be just another method of shilling for new email address. It then led to 'Like' you on Facebook. -- Another Company Abandons California

Dear Comrade Merbock,

I passed along your criticism.

I actually don't control whether my column is on one or two pages. All the “columnists” actually are on two pages unless they write something so short that it would be silly to put it on two pages. On The Tipsheet, however, the blog for, each blog entry is on one page.

Having said all that, I really like the idea of making money. I would like to do it as unobtrusively as possible, but at the end of the day we all have to get paid. So bear with us as we try our capitalist best to provide you with a product that we let somebody else pay for it.

Oroa dig inte: Jag älskar dig fortfarande.

Doctor Roy wrote: Off topic but did you guys see what Media Matters is doing? I almost fell out of my chair. Here is a supposed progressive organization that had a chance to put their money where their mouth is and failed miserably. Feel free to mock them unmercifully.-- Another Company Abandons California

Dear Comrade Doctor,

I understand Bush was against unionization too.

Jrountree wrote: I can't believe it!!! The Ukraine; what is that to us? You idiots have worried about the wrong things since World War II. I am old enough to remember Korea, Vietnam, Cuba, Iraq, Bosnia, Afghanistan, Israel, Libya, Syria. What about Detroit, Camden, East St. Louis, South L.A. I guess these places don't matter to you as long as we meddle and waste a world of wealth over there.--

Dear Comrade J,

Failures in Detroit, Camden, East St. Louis, South LA have nothing to do with Korea, Vietnam, Cuba, Iraq, Bosnia, Afghanistan, Israel, Libya, Syria.

You are assuming that the government saltshaker of money would've been better dumped in those failed cities.

It wasn't money, or lack there of, that caused the demise of Urbania.

It was Progressive policies that kept Blacks on the plantation, hacks on the payroll and high taxes on everyone else.

Kirk72 wrote: True he did say the whole state was corrupt. That maybe true, but does in no way qualify Oldmom for the comrade label.-- Hey UAW: IF You Don't Like Politics, Then Don't Be Political

Dear Komrade Kirk,

Yes, I getting a lot of criticism from people when I tag somebody as a “comrade” who is otherwise solid ideologically.

She tried to blame everything on Cook County, forgetting that there is a Republican governor in prison as well.

The whole damn state is corrupt. Has been as long as I've been alive.

But here's the thing: It's my Comrade column.

I get to decide who the comrades are.

And as you can see, by your own example, it can be situational.

So just avoid that situation.

That's it for this week.