Can Anyone Fix This Economy?

Read Mitt’s plan then read Barack’s plan. If it’s “the economy stupid” then where is the plan to set the nation on a course to recovery?

The number of new employees added to the job payrolls has been less than breathtaking. With 5 million long term unemployed is anything other than low pay service sector jobs going to be created in the coming years? The number of new June jobs is 80,000. The unemployment rate remains at 8.2% for a second straight month. That is less than the number required to keep pace with our growing population according to most economists. Perhaps the better question to ask is what are the plans of the two candidates for president?

From Mitt Romney’s campaign web site.

Mitt’s Plan

Mitt Romney sees two important objectives that America can pursue immediately to build on the extraordinary traditional strengths of its workforce. The first is to retrain American workers to ensure that they have the education and skills to match the jobs of today’s economy. The second is to attract the best and the brightest from around the world.

Retraining Workers

Mitt Romney will approach retraining policy with a conservative mindset that recognizes it as an area where the federal government is particularly ill-equipped to succeed. Retraining efforts must be founded upon a partnership that brings together the states and the private sector. The sprawling federal network of redundant bureaucracies should be dismantled and the funds used for better purposes. One particularly promising approach that Romney supports and believes states should be encouraged to pursue is a system of Personal Reemployment Accounts for unemployed individuals. These accounts would facilitate programs that place individuals directly into companies that provide on-the-job training—as governor of Massachusetts, Romney helped create just such a program.

Eliminate redundancy in federal retraining programs by consolidating programs and funding streams, centering as much activity as possible in a single agency
Give states authority to manage retraining programs by block granting federal funds
Facilitate the creation of Personal Reemployment Accounts
Encourage greater private sector involvement in retraining programs

Attracting the Best and the Brightest

To ensure that America continues to lead the world in innovation and economic dynamism, a Romney administration would press for an immigration policy designed to maximize America’s economic potential. The United States needs to attract and retain job creators from wherever they come. Foreign-born residents with advanced degrees start companies, create jobs, and drive innovation at an especially high rate. While lawful immigrants comprise about 8 percent of the population, immigrants start 16 percent of our top-performing, high-technology companies, hold the position of CEO or lead engineer in 25 percent of high-tech firms, and produce over 25 percent of all patent applications filed from the United States.

Raise visa caps for highly skilled workers
Grant permanent residency to eligible graduates with advanced degrees in math, science, and engineering

Barack Obama jobs plan is not posted on his campaign web site. Instead his site points to the growth of jobs and offers these successes and plans.

Barack’s Plan

 489,000: Jobs added in the manufacturing sector since January 2010

 233,000: Jobs added in the auto industry since June 2009—the most growth in a decade

 100%: The percent of investment in plants and equipment that businesses could expense under a tax cut extension President Obama proposed, which would spur investment in the United States

 18%: Tax deduction President Obama has proposed for domestic advanced manufacturing technologies—which would double the current 9 percent deduction

 20%: Income tax credit the President has proposed providing to companies on expenses related to moving operations back to the United States

Neither candidate offers any idea to re-employ those middle class wage earners that have faced a devastatingly long unemployment period. As matter of fact no one has offered one sensible plan. If Mitt Romney believes that the independent voters will elect him to office by just saying Obama has failed to re-invigorate the economy he is not likely to gain my support. He should not gain your support either. Vague references to re-training programs when the there are no growing industries are not enough.

If my choice is between just another face and no plan then I will vote for Obama. At least he has the experience that no other job in the world can provide. Then again why should I vote for a leader who has not been able to change our course?

The Astonishing List of Products Made by One Company

I was casually looking at a Sunday paper a few weeks ago and was flipping through the coupon packages when I noticed a group with the cover page titled Procter and Gamble.

The list was astounding. I realized that many of the items in my house are all made by the same company. Just read the list. This is not their complete list. This is just the items in my house past and present.

Columns are not aligned. It’s a problem for me.

Beauty & Grooming

Always Clairol Professional CoverGirl

Crest Head & Shoulders Herbal

Gillette Essences Ivory

Nice ‘n Easy Olay Old Spice

Oral-B Pantene Scope

Tampax Vidal Sassoon

Household Care

Ace Bounce Bounty

Cascade Downy

Charmin Cheer Comet

Duracell Febreze

Mr. Clean

Pampers Pepto-Bismol Prilosec OTC

Swiffer Vicks

Happy Fourth of July

Photo from DragonSnappers

Obama Care is the Wrong Plan

No doubt, health care for all Americans is a wonderful idea.

I oppose this law for one single reason. There are no controls or limits on the cost of insurance. The explanations I have read say that insurance companies can make reasonable rate increases to cover their costs. What is “reasonable?” It appears that costs will increase for three reasons.

1) 10 to 15 million people will be added to insurance company rolls without adequate payments to cover their enrollment.

2) Those excluded from insurance because of pre-existing conditions will be now be added to the plans.

3) Insurance companies will be permitted to earn 20% of the fees they charge.

Without a plan to control medical costs no plan can survive.

Just today I received a plea from change.org to sign a petition addressed to Blue Cross of Idaho. The insurance company refuses to pay the bill for the chemotherapy drug, Avastin. It may prolong the life of a victim of stage four colon cancer for an additional three months. According to the New York Times the cost will be about $8,300 per month. It seems to be OK, in the minds of many people, for insurance companies to make these decisions but many people object to a government committee making the decisions. Why? What is the difference?

A better solution to this would have been a single payer system like Medicare. The plan that has been adopted (Patient Protection and Affordable Care Act) is one that was proposed many years ago by Republicans. It is the Massachusetts plan that was implemented by Mitt Romney.

Canada and most European nations seem to have addressed the issue of health care. Care is available for everyone. I am certain there are situations that their health care plans do not cover. Considering America is listed as the 41st in child mortality with the highest health care cost of any nation on Earth says we are doing a lousy job. Quite shocking when we consider that the USA is the wealthiest nation on earth.

Supreme Court Chief Justice John Roberts Surprises Everyone

ObamaCare Lives

How could Chief Justice John Roberts have voted with the liberal justices in favor of Obama care? Charles Krauthammer has written a piece for the National Review contending that the “Commerce Clause contained, constitutional principle of enumerated powers [has been] reaffirmed.” “Law upheld, Supreme Court’s reputation for neutrality maintained.” He suggests that Roberts was more concerned with the Court’s reputation than the outcome of this case. I disagree.

George Will, also writing in the National Review offered similar analysis.

We may never know Roberts’ thinking. Considering the far reaching consequences of his (Roberts) decision I cannot believe that he would not be more concerned with the impact this law will have on almost every American.

John Roberts said the law was legal under the right of the Federal government’s power to tax. The Obama administration denied the penalty against the non-insured is a tax. Roberts obviously had to search out his justification for voting in favor of the law. It must have come as a great surprise in the White House when they heard Roberts’ reasoning.

One thing is obvious. The media proved that even their smartest commentators could not conjure the outcome nor explain the logic of John Roberts.

Religion or Government – Which Laws Prevail?

Does the First Amendment permit religions to ignore secular law?

I was watching a Diagnosis Murder television show this evening. You may recall that is the Dick Van Dyke program where he plays a doctor who solves crimes. In this particular episode a Catholic priest refuses to tell anyone including the police who committed a murder. His reason is that his knowledge is the result of a “confession.” I was astonished that he held the position that he is sworn to keep all confessions private.

Then I Google the question, “Can Catholic priests reveal confessed crimes to the police?” Apparently I am mis-informed; it is an accurate fact that “confessions” are never to be revealed. Perhaps that explains the reason that priests who are child abusers were not reported to the police. The priests simply “confessed” their sins.

We all know how that turned out. Still, the laws regarding religion seem to disregard society’s right to law enforcement.

If you are an Orthodox Jewish family and a relative dies under suspicious circumstances the law requires an autopsy. Will an autopsy be preformed against Jewish law?

How will America’s response to Sharia Law be handled? I contend that when religious law conflicts with government law, the government prevails. How will the Supreme Court handle this?

The War of 1812

I am glad the Canadians won the fight.

According to History.com “The War of 1812 produced a new generation of great American generals, including Andrew Jackson, Jacob Brown and Winfield Scott, and helped propel no fewer than four men to the presidency: Jackson, John Quincy Adams, James Monroe and William Henry Harrison.”

This was a war between England and the U.S. Canada was a colony. The U.S. did not see itself at war with Canada. It was a war with the British Empire. Americans learn in school that the war was about British attempts to restrict U.S. trade and to a lesser extent a continuation of the American Revolution. For us Americans the fight settled the question of America’s independence from Great Britain.

Canadians in Ontario seem to want to celebrate their victory over American forces. Johns Hopkins University professor Eliot Cohen supports this view. He writes in his just-published book Conquered Into Liberty that, “ultimately, Canada and Canadians won the War of 1812.”

Americans don’t want to be bothered celebrating that war. The only thing Americans gained was the “Star Spangled Banner.” It is a terrible song that celebrates the flag. “America the Beautiful” or “God Bless America” are far better songs that celebrate everything that is good about this country.

Interestingly it is Canada that has shown more openness than the United States on the subject of accepting all people equally. Read the Toronto Star newspaper and you learn more about the world than reading many American newspapers. Walk down the streets of Toronto and you have the feeling you are in the United Nations. Or is it my imagination? No, I don’t think so. There really is a feeling of acceptance that is difficult to find elsewhere.

Banks are Too Big To Fail! Is it true?

“SAN FRANCISCO(MarketWatch) — Moody’s Investors Service downgraded the ratings late Thursday of 15 financial firms with global capital-markets operations from one to three notches.” The list included Bank of America Corp. BAC, Citigroup Inc. C, HSBC Holdings PLC. These three are on the list of America’s largest banks.

Largest banks and thrifts in US by total deposits

Company City, State Deposits in Billions of Dollars

JPMorgan Chase & Co. New York, NY 1,127.8

Bank of America Corp. Charlotte, NC 1,033.0

Citigroup Inc. New York, NY 865.9

Wells Fargo & Co. San Francisco, CA 920.1

U.S. Bancorp Minneapolis, MN 230.9

Capital One Financial Corp. McLean, VA 211.2

Bank of New York Mellon Corp. New York, NY 219.1

PNC Financial Services Group Inc. Pittsburgh, PA 209.2

HSBC North America Holdings Inc. New York, NY 122.6

State Street Corp. Boston, MA 157.3

This identical data was printed in Forbes and The WSJ.

Yes, you read it correctly, JPMorgan Chase & Co. has deposits of One Trillion, onehundred twenty eight Billion point eight dollars.

Moody’s says “All the banks affected by these rating actions have significant exposure to the volatility and risks inherent in the capital markets business, which have led many to fail or avoid it only through the receipt of support from a third party.” We can all conclude that the third party is a government or government sponsored entity.

Banks receive aid but the aid to small business and home owners is minimal. If it isn’t called welfare, what do you call government support for banks?

A New Frontier for Americans

Business Week June 11-17, 2012 offered a new consideration for everyone searching for employment. Have you ever considered employment outside the United States?

Americans are most likely to look for work in their home country. Even though you hear about many people traveling overseas, the number of Americans working elsewhere is relatively small. Consider the fact that many people in other nations immigrate to the United States. I know my father considered moving from Canada to England to obtain work in 1939 (near the end of the Great Depression).

Today the USA has a large population of Filipinos who still consider their home the Philippines. Many Latin Americans still feel loyalty to their home country even though they have been in the United States for years. I base these statements on empirical evidence. It’s the Filipino care givers and the Hispanics who fly their home country flags.

So where does Business Week suggest Americans move to obtain those jobs?

Brazil:

Why: Last year, Brazil became the world’s sixth largest economy. And according to a 2011 study by Manpower Group, 64 percent of employers there find vacancies hard to fill. Plus it may soon ease visa requirements.

Jobs: bankers, executives, hedge fund managers, lawyers, and engineers.

India:

Why: Outsourcing has led to a burgeoning tech industry, which has in turn created pockets of economic opportunity. The number of Americans moving is still small, so be first among your friends!

Jobs: tech, mostly. But there are also positions at English language newspapers and schools.

Australia

Why: The Chinese demand for ore spurred a mining boom in Australia. Because of its isolation, the country has an inflexible supply of workers, which means that outsiders are needed. The cost has been rising, but still beats theU.S.

Jobs: mining.

Canada

Why: With a healthy economy, no language barrier, lower corporate tax rates, and free health care, Canada is drawing more Americans than before (though still far fewer than during the draft-dodging heyday of the 1970s).

Jobs: whatever you’re currently doing.

Russia

Why: Exxon Mobil’s newly expanded access to the country’s off shore Arctic.

Jobs: oil.

You could think of these places as more of the pioneering spirit that induced so many Americans to travel to our own western frontier in the 1800s.