Wall Street doing Very Well under President Obama while Main Street Continues to Suffer

Posted by PITHOCRATES - May 18th, 2013

Week in Review

The Dow Jones Industrial Average is at a record high.  The unemployment rate fell one tenth of a percentage point in April.  Nonfarm payroll employment rose by 165,000 in April.  And interest rates are still so low that they are almost negative.  Good news for Wall Street.  And rich investors (see Revised Wall Street Forecast: We’re All Going to Be Rich by Kyle Stock posted 5/13/2013 on BloombergBusinessweek).

Whether, the country’s 500 biggest companies are collectively worth that much is another question. Goldman says most of its own valuation engines show the market is currently at or above where it should be trading. In other words, eager buyers are keeping it high. Low interest rates are spurring things along, as investors borrow increasingly large sums to place bigger bets.

That’s not to say some people aren’t nervous about the recent gains. “It’s one big carry trade, and all it’s doing is setting us up for a bigger correction,” says Joseph Saluzzi, partner and co-founder of Themis Trading, an institutional brokerage firm that specializes in equities. “Whether it’s going to be a week from now or a year from now, I don’t know; but it’s going to be ugly.”

President Obama has been saying for years now that the economy has turned around and things are getting better.  But better for who?  Wall Street.  Not Main Street.  The 1%.  Not the 99%.   Things are still pretty horrible for the 99%.  The unemployment rate may have fallen in April but the labor force participation rate hasn’t budged from March.  It’s still at record lows.  You have to go all the way back to President Carter’s Seventies to find so many people unable to find full time work.  That’s right, even George W. Bush had better economic numbers throughout his presidency.  And he suffered through a couple of recessions.  And the greatest terrorist attack on American soil.  So things aren’t getting better.  They’re only getting better for the 1%.  Who are borrowing that cheap money the government is printing to make more money.  While the general economy languishes in the worst recovery since that following the Great Depression.

And it gets worse.  Once the markets correct all of that irrational exuberance the economy is going to crash.  Hard.  Just as it always does after artificially low interest rates push stock prices into the stratosphere.  And “it’s going to be ugly.”  As it always is.  And the longer they keep those interest rates artificially low the uglier the inevitable correction will be.  When the correction comes it will be the 99% that will suffer the most.  As they always do.  As even more people will be unable to find a full time job.  Pushing the labor force participation rate even lower than it ever was in the Seventies.  This is what President Obama is doing to the 99%.  While he and his 1% friends are living large.  And will continue to live large after the crash.  Just as Hugo Chavez was able to live large in a country that couldn’t even make enough toilet paper for its people.  Because rich people and those in government always do well.  No matter what they do to the people.

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Foolish Majors and Bad Economic Policies lead to High Unemployment among Recent College Graduates

Posted by PITHOCRATES - February 9th, 2013

Week in Review

Going to college is very expensive.  In fact, tuition costs seem to rise as much as health care cost yet no one blames the colleges and universities for being profit whores.  Odd.  No one ever complains about the high cost of education.  Unless they’re attacking Republicans for not approving more spending to help subsidize what these profit whores at our colleges and universities are charging our students.  Worse, these profit whores are selling a lot of worthless degrees to these unsuspecting students (see Four Foolish Majors To Avoid by Terence Loose posted 2/7/2013 on Yahoo! Education).

Opportunity Killer #1: Liberal Arts

Unemployment Rate for Recent College Graduates: 9.2 percent*

“I don’t think the majority of [liberal arts grads] are going to be employable because they don’t come out of those degrees with any marketable skills,” says Heathfield. “But even worse than that, they spend the money to go four years to college and then get a job that pays $30,000 a year with no upward prospects.”

Opportunity Killer #2: Philosophy and Religious Studies

Unemployment Rate for Recent College Graduates: 10.8 percent*

Can you remember the last time you saw a “Wanted” ad that said: “Looking for a really smart person who can solve why I exist”? Neither can we – and we’re guessing even Plato could recognize the need for practical skills. It seems like today’s employers certainly do, too.

Opportunity Killer #3: Information Systems

Unemployment Rate for Recent College Graduates: 11.7 percent*

Quick, what exactly do information systems majors study? Not sure? Neither are most employers, says Heathfield. That’s not to say this degree doesn’t build good skills; it’s just that if you’re interested in computer technology, it’s best to earn a degree that is easily understood, like a bachelor’s in computer science or computer engineering, says Heathfield.

Opportunity Killer #4: Architecture

Unemployment Rate for Recent College Graduates: 13.9 percent*

There are few things as inspirational as a beautiful building or home. That said, thanks to the massive hit the housing and commercial real estate industries took in the past decade, this degree may not lead to a good job outlook.

Apart from architecture what do these degrees have in common?  They don’t have a lot of math or science in them.  That is, they’re easier than, say, degrees in electrical engineering or theoretical physics.  Could this play a part in why students choose these degrees?  These kids who are going away from home for the first time.  To a raucous college campus.  Where there is booze, drugs and sex.  You know, they even rate colleges by their party index.  So, yes, kids choose easy degrees so they can go to college and party.  Where they can enjoy booze, drugs and sex away from the disapproving glare of their parents.  Even earn a starring role in a Girls Gone Wild video when they take the partying up a notch on spring break.

So when students protest in an Occupy Wall Street movement because they can’t get a job this is why.  A lot of them have degrees in these foolish majors.  Which on top of President Obama’s economic policies is not a recipe for gainful employment.  But these kids will have those great college memories.  Which they will be reminded of.  Every time they can’t make a payment on that colossal student loan debt that those good times cost them.

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Universities are more Interested in Government Grant Money than Teaching their Pesky Students

Posted by PITHOCRATES - May 6th, 2012

Week in Review

Education is sacred.  For in all the budget debates.  In all the class warfare.  One field is exempt from that one most disparaging label.  Greedy.  Everyone is greedy in Western Civilization.  Except the universities and the professors.  Who make more and more while working less and less.  And hand out degrees that have little value in the modern economy.  No.  Their greed is never called out.  These people who add little to our economic wellbeing.  While those who do are called every filthy and vile name in the book.  Because education is sacred.  Apparently.  No matter how substandard it is (see Professors should teach more classes: Experts by Antonella Artuso posted 5/6/2012 on the Toronto Sun).

Ontario’s post-secondary system could improve the quality of students’ education and save money by sending more professors back to class, some experts say.

There is rising concern that hundreds of thousands of Ontario undergraduate students are being short changed by a university system that values research ahead of teaching…

Ontario undergraduate university students learn in ever larger classes and often emerge from their pricey education without the skills they need to find work in a modern economy, he said…

There has long been an informal working ratio for professors — 40% of their time spent on research, 40% on teaching and 20% on administrative duties.

Economist Don Drummond, who chaired the Dalton McGuinty government’s Commission on the Reform of Ontario’s Public Services, concluded universities — and even a few colleges — now aggressively chase provincial and federal research grants with some institutions using undergraduate tuition fees to pursue government funds…

University of Toronto Professor Ian Clark, co-author of Academic Reform, said the Ontario and federal governments have ramped up research grants in the hope — one that’s shared by most developed nations — that the investment will stimulate the economy.

Professors now spend more time on research, teaching an average of two courses a term, down from three courses a term about 20 years ago, Clark said.

At the same time, there’s been a strong public push to increase the number of Ontarians with a post-secondary education, leading to a 50% jump in undergraduate students over a decade.

“You’re getting less than half as much time per student per faculty member as there used to be. Inevitably, it’s leading to bigger classes and more use of teaching assistants,” said Clark, a former president of the Council of Ontario Universities. “That, we assert — and so do many, many others — is leading to a decline in the quality of the undergraduate education that Ontario students receive…”

Constance Adamson, president of the Ontario Confederation of University Faculty Associations (OCUFA), said professors are aware that class sizes are getting larger, but the fault lies not with the focus on research, but with chronic underfunding of the post-secondary system.

Really?  The problem is chronic underfunding?  It has nothing to do with universities running after all that free government money?  The professors are teaching one less course a term.  Why?  Because they’re too busy chasing all of that free government money.  No wonder these kids are graduating lacking the necessary skills to make it in the modern economy.  Their education is only a distraction to these professors.  Who spend as little time involved in it as possible.  Why?  Because that’s why God made graduate students.

This isn’t a problem unique to the Canadians.  Throughout the world a university degree is becoming a birthright.  More and more kids are going to university.  Because we tell them it’s the gateway to success and wealth.  The problem is that not only are we giving them a part-time, half-hearted education, a lot of the degrees we’re giving them are worthless in the modern economy.  Liberal arts.  Social sciences.  Women studies.  Etc.  None of which are in high demand in the modern high-tech economy.

Perhaps these are the reasons those angry unemployed university graduates are protesting capitalism in all of those occupy movements.  They borrowed a fortune for those degrees.   That were supposed to give them success and wealth.  Only to find that they got huge student loan debts.  For a worthless, part-time, half-hearted education.  Worse, these university graduates don’t even understand capitalism.  For it isn’t capitalism that failed them.  It was their leftist universities that failed them.  Who gave them a substandard education.  While charging them a premium for it.  But do these kids protest these universities or their professors?  No.  They’re protesting the businesses that can’t hire these graduates without spending a fortune on them.  To give them a useful education.  That their university was supposed to provide them.

That’s how bad our education systems have become.  Our universities draw these kids in.  These pesky students.  Selling them a useless degree.  That these kids should have known were worthless.  I mean, exactly what kind of high-paying job do these kids think their degrees in the liberal arts, social sciences, women studies, etc., will prepare them for?  Stock analyst?  Investment banker?  Research engineer?  Doctor?  The truth is that many of these degrees these kids are graduating with have very little if any value in the market place.  In fact the only thing they’re qualified for is to teach these worthless degrees to other unsuspecting students. 

And yet they protest capitalism.  Not the people who made them unfit to enter the world of capitalism.  Which is yet another sad commentary on today’s educational standards.

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Al Gore’s Current TV about to become another Liberal News Outlet Failure

Posted by PITHOCRATES - April 7th, 2012

Week in Review

A lot of people on the Left hate Rush Limbaugh.  And Sean Hannity.  Because they have a lot of people listening to their radio shows.  Numbers one and two in the market.  Something liberal talk radio could never do.  Which is why the Left hates these two guys.  Because the Left always fails going up against conservatives.  Even on cable TV (see Exclusive: Low ratings could end cable deal for Gore’s Current TV by Peter Lauria posted 4/5/2012 on Reuters).

Al Gore’s Current TV has bigger problems to deal with than a potential lawsuit from fired news anchor Keith Olbermann – namely not getting kicked off Time Warner Cable for low ratings.

According to three sources with knowledge of the situation, Time Warner Cable Inc’s carriage agreement with Current TV stipulates that, if the left-leaning political news network fails to meet a minimum threshold for overall viewers in a given quarter, financial penalties such as Current TV being required to increase marketing and promotion spending on the cable operator’s systems are triggered.

If Current TV misses the audience benchmark in two consecutive quarters, another clause is triggered that would allow Time Warner Cable to drop the channel. The condition was built into the most recent distribution pact between the two parties, which was signed in 2010…

If it was not for Olbermann’s show, which averaged a total of 177,000 viewers per night, Current TV likely would have missed Time Warner Cable’s viewership benchmark, said one of the sources.

When you’re the party of decriminalizing drugs and providing birth control and abortion you’re appealing to the baser instincts of people.  People who enjoy pleasure more than deep philosophical thought.  Which is who the Left appeals to.  Especially in their courtship of the youth vote.  And these people who want to party and enjoy the now to the fullest aren’t going to tune into any program talking politics.  They’ll participate in the Occupy Wall Street and other protests because protesting is fun.  As is the sex and drugs in their little tent cities.  Just like it was back in the Sixties when the hippies created the sex and drugs scene.  But they don’t want to hear their parents or people who may be friends of their parents talking politics.

This is the consequence of dumbing down society.  It’s easier to buy votes.  But a large portion of your political base will be uninformed and unaware.  And not get involved in politics.  Unlike the conservative opposition.  Who take great offense of the dumbing down of society.  And the societal decay.  And they will tune into programs talking politics.  Especially the ones in opposition to the thing they blame for that dumbing down and societal decay.  Liberalism.

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Time names Organized Protesters Masquerading as Spontaneous Democracy Person of the Year

Posted by PITHOCRATES - December 17th, 2011

Week in Review

There are two sides to every issue.  Take the Occupy Wall Street movement.  Time Magazine has made these protestors their Person of the Year.  While Investors.com calls these maggot infested hippy, communist-loving, capitalist-hating pond-scum something else (See “Occupy” A Media Creation Unworthy Of Time’s Person Of The Year posted 12/16/2011 on Investors.com).

Occupy Wall Street — the unkempt campout of the same old rent-a-radicals calling for redistribution of wealth — was largely a media-generated phenomenon whose significance ends there.

Unlike the far larger and more politically potent Tea Party movement, which Time often ignored, Occupy is the thin gruel of radicalism writ large by unwarranted media attention.

It has no demands other than socialist utopia, has elected no one, has failed to draw support from middle Americans and has proven itself mainly a public nuisance. Had the media not showered Occupy with attention, it wouldn’t be news at all.

How do we know? Polls show that the public remains intensely opposed to the Occupy media circus. If that’s not clear enough, the Democratic Party did its utmost to distance itself from Occupy once it learned its support would cost them votes.

That’s why Democratic city machines in the political downstream, after weeks of kowtowing to the protesters, shut down their camps all at once. They know a political liability when they see one…

In its Man-of-the-Year edition,Time calls Occupy a mass movement as significant as those of 1848, while ignoring what the public is noticing — the disease, rape, freeloading, filth, depravity, stench and murder rampant in the camps.

Time tried to tie Occupy’s irrelevant protests in with the flash Arab protests that have fueled Islamofascism as well as the tantrums of economically illiterate youth in Spain, Greece and the U.K.

But far from being spontaneous rage, Occupy’s protests were fully planned over the summer by radical groups like MoveOn.org and Adbusters, a Canadian cabal that thrives on attention.

See?  There are two sides to every issue.  In the case of Occupy Wall Street there is the truth.  As reported by Investors.com and other news organizations.  And the propaganda spread by the mainstream media.  Spreading the lie that this political movement organized by radical groups was actually spontaneous democracy.  All to help an unpopular president win reelection.  By spreading the flames of class warfare.  So President Obama can run against the greed of Wall Street instead of his record.  Because his record is not the kind that lets presidents win reelection.

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Occupy Wall Street finds Conflict not Love in Zuccotti Park

Posted by PITHOCRATES - November 27th, 2011

Week in Review

I guess George, John, Paul and Ringo were wrong.  Love isn’t all you need.  You also need conflict resolution services (see Women Bring Peace to Zuccotti Park by Victoria Pynchon posted 11/26/2011 on Forbes).

Peter, Paul and Mary memorably sang “whenever two or more of you are gathered in His name, there is love.” But whenever two or more of us are gathered to build a bridge, stage a protest, or run a business, there is conflict.

Fortunately for Occupy Wall Street in Zuccotti Park, mediators and other peace workers have been providing conflict resolution services to protestors, including daily nonviolent communication training and mediation for conflicts among the occupiers.

Guess that’s what happens when you use your fellow protestors’ part of the commons as your personal toilet.

One thing for sure is that you never heard stuff like this about the Tea Party.  The Tea Party generally cleaned up after themselves.  Didn’t urinate or defecate anywhere but in a proper toilet facility.  And they didn’t want to beat the crap out of their fellow protesters.  Because they all got along.  And they got along with the community they were in.  For there was, dare I say it?  Love.

Everybody now…love, love, love….  All you need is…love, love, love…

Like in the Tea Party.  But apparently not in the Occupy Wall Street movement in Zuccotti Park.

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Woman Dies from Drug Overdose at Occupy Wall Street in Vancouver

Posted by PITHOCRATES - November 12th, 2011

Week in Review

Sadly, a 23-year woman died from an apparent drug overdose at an Occupy movement in Vancouver (see Death at Occupy Vancouver shouldn’t force end to encampment, protesters say by Sean Sullivan, Katie DeRosa, Jason Markusoff and Sean Myers posted 11/6/2011 on canada.com).

The woman, identified online as 23-year-old Ashlie Gough of Victoria, was found unresponsive in her tent Saturday afternoon from a rumoured drug overdose. Police said the death is not considered suspicious.

After news of the woman’s death broke, Mayor Gregor Robertson said he had asked city manager Penny Ballem to find a way to force the protesters from the makeshift tent city, calling it unsafe…

“This is the second critical incident in the last two days,” Robertson said over catcalls from occupiers, in reference to a man who overdosed on heroin on Thursday…

Protester Niko Guerra said the woman and her friends were peaceful and played music most nights.

“They enjoyed having somewhere to stay, as opposed to living on the street,” he said.

Sad.  Only 23 years old.

I guess we can stop calling these the Left’s Tea Party.  Because the Tea Party rallies weren’t just a place to score and get high.  They had a serious and consistent message.  Not just playing music all night and getting high.  Which appears to be the case with many of these protesters.  Not everyone I’m sure.  But enough to make these look more like a tailgate party before a concert than a political movement.

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The Occupy Wall Street People are Using Residents’ Doorsteps as Public Toilets

Posted by PITHOCRATES - October 23rd, 2011

Week in Review

Here’s something you just don’t hear about at Tea Party rallies (see NYC residents complain about ‘Occupy’ protesters by KAREN MATTHEWS posted 10/21/2011 on the Associated Press).

At a two-hour meeting Thursday night, some neighbors said protesters urinated in the streets and beat drums in the middle of the night.

“They’re defecating on our doorsteps,” said…a member of the area’s community board, a representative panel that helps funnel local concerns to city officials.

But the board voted unanimously for a resolution that recognized the protesters’ First Amendment rights while calling for a crackdown on noise and public urination and defecation.

Defecating and urinating.  How nice.  And the drums.  Like I said, I don’t recall any of this from the Tea Party rallies.  Guess the Occupy Wall Street people are not quite the Tea Party people.

Perhaps these residents, too, are part of the 1%.  And their showing their displeasure with their greed as well.  While at the same time asking for donations from these very same people.  So they can continue their peaceful demonstration.  In their neighborhood.  What the Occupy Wall Street people use as a public toilet.

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