Percent job losses iin post WWII recessions
http://www.rushlimbaugh.com/home/today.guest.html

Ouch!

Oh, and the state still has a budget surplus. And there’s no income tax.

Know anyone in California with a viable business who actually wants to survive this recession? Tell them to move here.

Of course many of them already have.

And whenever oil and gas spike again, which they are guaranteed to do because of the idiotic energy policies of this administration, Texas is going into full time boom mode again.

Not many people remember that Texas was booming all through the Great Depression. Time for history to repeat.

So the subtle message in those graphs (which they are attempting to hide by showing a long period of declining unemployment) is that the government fully expected unemployment to continue rising through the end of September of this year … recovery plan or no recovery plan.

This administration is likely to “recover” the economy to death if it isn’t careful. Doing things like attempting a restructuring of energy production in the middle of a recession by taxing the living daylights out of conventional production and attempting to feed cash into “alternative” production causes great turmoil. The time to do that is in economic boom times, not in the middle of a recession.

When you increase energy costs you increase the cost of every good and service in the entire economy at a time when people are cutting back on expenses. So just when you need the new technology to “catch” and gain traction you have an environment where people are reducing their demand. It is the worst possible time to try to do that and makes things worse by causing people to cut back even more than they otherwise would. It sets Obama’s energy policy on a course to more certain failure.

We are led by a group whose idealistic fantasies trump reality. They are living in their own little world where market mechanics are ignored. It is Peter Pan economics where if we all just believe and “send positive vibes” then everything will work out. In the meantime, they are destroying the fertile ground it takes to sprout recovery and making it even more difficult for new businesses to get started and grow.

Obama should be doing everything in his power to help individuals get into business … not help huge industrial corporations. The economy gets rolling by individuals starting new business. 80% of this country doesn’t work for a large corporation.

the relevant quote:

“The dreaded birth/death adjustment added 185,000 jobs (up 12.1% yoy) including 87,000 jobs in leisure/hospitality. I’ll let you draw your own conclusions as to the feasibility of adding jobs in that industry right now.”

they know there is nothing that they can even pretend to say that will hide the failure.

Apparently some of the TARP fund spending has resulted in a profit for the government. Barney Frank wants to hurry up and blow that profit before the taxpayers can get their hands on it.

When President Obama announced on June 9 that some financial institutions would be allowed to repay Troubled Asset Relief Program dollars, he said the massively expensive TARP bailout had made money for the federal government. “It is worth noting that in the first round of repayments from these [TARP recipients], the government has actually turned a profit,” the president said. Indeed, TARP supporters have long held out the hope that the program might be profitable.

But now Rep. Barney Frank, the chairman of the House Financial Services Committee, has come up with a proposal to spend any TARP profits before they can be returned to the taxpayers. Last Friday, Frank introduced the “TARP for Main Street Act of 2009,” a bill that would take profits from the program and immediately redirect them toward housing proposals favored by Frank and some fellow Democrats.

In exchange for receiving TARP money, financial institutions were required to hand over shares of preferred stock that paid a dividend for the government. In theory, if a financial institution paid the dividend faithfully, and then repaid the TARP money, then the government would turn a profit. Last month, the General Accountability Office (GAO) reported that, through June 12, 2009, the government had received $6.2 billion in dividend payments. The original TARP legislation required that money made from the program “shall be paid into the general fund of the Treasury for reduction of the public debt.”

Frank, however, wants to spend the money before it can be used to pay down anything.

These guys are behaving just like drug addicts. They HAVE to spend money. It is time to toss the lot of them out of office. All incumbents must go, regardless of party.

I thought that the Democrats would get some blame when oil hit $145 a barrel, but they survived that just fine. But their luck might have run out now.

BTW, I think that is the real culprit behind the meltdown that everyone has forgotten about: high energy prices.

General Electric to Use Embryonic Stem Cells for Testing, Phase Out Lab Rats
07/02/2009 1:21:39 PM PDT · by wagglebee · 4 replies · 17+ views
LifeSiteNews ^ | 7/2/09 | Alex Bush
BOSTON, Mass, July 1, 2009 (LifeSiteNews.com) – General Electric has announced that it will use embryonic stem cells provided by Geron Corporation for the purpose of testing toxic effects of drug treatments.GE issued a statement, attempting to preempt criticism over the decision, saying, “We acknowledge the considerable debate and take very seriously the ethical and societal issues associated with research using stem cells derived from embryonic or fetal tissue.”"We conduct our research in an ethically and scientifically responsible manner,” the statement said.However, embryonic stem cells have been the center of heated controversy since harvesting the cells requires the destruction…