Category Archives: Business

Job Crushers

Business, Economy, Labor, Political Economy, Politics

Trust the public broadcaster to report the facts in detail and accompany them with transcripts. High marks for that PBS service. However, the service comes with a high price: full-on Keynesian propaganda. PBS’s jobs report begins in the Volunteer State (Tennessee), with an employer who understands that the cost of doing business is increased with every little regulatory tweak issued in DC. Says Bobby Joslin of “Joslin and Son Signs”:

“Well, two years ago, three years ago, we had to have all our tow motor people certified to operate a tow motor. … A forklift. And that cost the company $3,600. Now we’re having to dispose of all our lightbulbs. We’re in the sign business. We create a lot of volume of fluorescent tubes. So we just got through spending $8,500 on a lightbulb crusher.

Then there’s “Obamacare. When we bring on a new employee, we don’t know what that employee truly is going to cost us in 2014. And we’re not in the practice of hiring people and then laying them off.”

But our intrepid PBS reporter can recognize a Republican ruse when he hears one. PAUL SOLMAN thinks the small businessman he just interviewed is one dim bulb. Solman editorializes as follows: “Uncertainty of taxes and regulation crippling job creation; it’s become a Republican talking point.”

According to such Keynesians, who have always struggled with the chicken or the egg problem, business is struggling because, well, because it is struggling:

“Joslin told us business is down 35 percent over the past three years. So of demand is the other reason you’re not hiring, right? … lack of demand is the other reason you’re not hiring, right? But if sales drive everything, how important can policy uncertainty be?”

There is always an expert on hand to expatiate about the mysterious cycle of poverty that starts with reduced demand, and has absolutely nothing to do with the Brownian motion of the DC wealth-consuming machine:

And every businessman I know says exactly that. Non-financial companies are sitting on over $3 trillion of cash, the latest IRS data shows. Companies are not investing that money because there’s no demand. It’s not because they’re concerned that tax rates may go up or regulations may change. They need to have people and businesses with money to spend in order to invest.

[More about Voodoo economics here.]

Mr. Omega to Alpha Male Obama: ‘Quit Your Cr-p!’

Barack Obama, Business, Democrats, Education, Elections, Political Economy, Politics

“If I am not for myself, then who will be for me? … And if not now, when?” said Rabbi Hillel the Elder.

At last a fabulously rich, self-made man has awoken to the fact that it’s time to fight for his life’s work; stand up for his achievements, take pride in his intelligence and graft. Quit pretending an agitator from Chicago, who has lived off the public teat for his entire life, is better than a billionaire who has built a business from scratch. Billionaire investor Leon Cooperman has “made public his letter to the President.” Read it on Gerri Willis’ Fox Business blog.

I like the part where he shows president ponce what real work means, although I am sick of the give-back fallacy or the pleas about divisiveness. That the president is divisive is secondary to the fact that he’s an ass with ears, ignorant of economics and oblivious to rights.

To the letter (I think Cooperman is far more eloquent than Peggy Noonan, Court Courtesan to Bush, whom Cooperman praises):

Just to be clear, while I have been richly rewarded by a life of hard work (and a great deal of luck), I was not to-the-manor-born. My father was a plumber who practiced his trade in the South Bronx after he and my mother emigrated from Poland. I was the first member of my family to earn a college degree. I benefited from both a good public education system (P.S. 75, Morris High School and Hunter College, all in the Bronx) and my parents’ constant prodding. When I joined Goldman Sachs following graduation from Columbia University’s business school, I had no money in the bank, a negative net worth, a National Defense Education Act student loan to repay, and a six-month-old child (not to mention his mother, my wife of now 47 years) to support. I had a successful, near-25-year run at Goldman, which I left 20 years ago to start a private investment firm. As a result of my good fortune, I have been able to give away to those less blessed far more than I have spent on myself and my family over a lifetime, and last year I subscribed to Warren Buffet’s Giving Pledge to ensure that my money, properly stewarded, continues to do some good after I’m gone.

My story is anything but unique. I know many people who are similarly situated, by both humble family history and hard-won accomplishment, whose greatest joy in life is to use their resources to sustain their communities. Some have achieved a level of wealth where philanthropy is no longer a by-product of their work but its primary impetus. This is as it should be. We feel privileged to be in a position to give back, and we do. My parents would have expected nothing less of me.

I am not, by training or disposition, a policy wonk, polemicist or pamphleteer. I confess admiration for those who, with greater clarity of expression and command of the relevant statistical details, make these same points with more eloquence and authoritativeness than I can hope to muster. For recent examples, I would point you to “Hunting the Rich” (Leaders, The Economist, September 24, 2011), “The Divider vs. the Thinker” (Peggy Noonan, The Wall Street Journal, October 29, 2011), “Wall Street Occupiers Misdirect Anger” (Christine Todd Whitman, Bloomberg, October 31, 2011), and “Beyond Occupy” (Bill Keller, The New York Times, October 31, 2011) – all, if you haven’t read them, making estimable work of the subject. …

Read more.

Freak Street

Business, Capitalism, Economy, Free Markets, Government, Justice, Left-Liberalism And Progressivisim, Taxation

The freaks of the Occupy Wall Street (bowel) movement make it plain that they want what Charles Payne of the Fox Business Network has worked so hard to attain. Their case? That Payne, who began his business in a Harlem basement apartment, with monies borrowed from family and friends, owes his success to the rabble and its willing sponsor, government.

Yes, statists and their prized sponsors—moochers and looters—like to claim that if not for the state, to whose coffers they hardly contribute—man would be unable to produce.

That’s like saying that the tick created the dog! Production predates government predation. Government doesn’t produce wealth—it only consumes it. What, pray tell, would government have fed off if people were not hard at work well before the advent of the bureaucracy? As usual, the statists have it topsy-turvy. First came the individual—he is the basic unit of society, without which there can be no society. And without man’s labor there is no wealth for government to siphon.

Meet two more good Americans: Derek and John Tabacco, proprietors of a small business on Wall Street. The two businessmen staged a counter-protest against the Occupiers, holding up neon green signs that read “Occupy a Desk!“ and ”Get a Job.”

“We got a bunch of small business owners together…and we thought that ‘hey, any good occupation couldn’t be ended without some resistance,’” John told Fox News, adding that there was a coalition of about 50 small business owners who are part of his movement.
“They were coming after us , they were screaming at us, trying to get in our face, putting their hands on us,” he said. He also identified with the “53%” — the group that pays taxes that the other 47% doesn’t — and said the “silent majority” was giving them the thumbs up during their counter-protest.

[The Blaze]

Predictably, the slimy Salon.com tries to discredit the Tabacco brothers’ case for industry and work by discrediting them.

UPDATED: Solyndra Loan Guarantee Program Bush’s Baby

Bush, Business, Constitution, Environmentalism & Animal Rights, Fascism, Republicans, Technology

The way Republicans, in general—and Senators like Orrin Hatch of Utah, Jim DeMint of South Carolina, Senate Minority Leader Mitch McConnell, in particular—are carrying on about Solyndra, you’d think that it was not “President George W. Bush’s administration,” and “the GOP-controlled Congress in 2005,” that cleared Solyndra to participate in this loan-guarantee program, and, even worse, passed the “legislation creating the loan guarantee program.”

Reports Dana Milbank of The Washington Post:

… the Republican paternity of the program that birthed Solyndra suggests some skepticism is in order when many of those same Republicans use Solyndra as an example of all that is wrong with Obama’s governance.
“Loan guarantees aim to stimulate investment and commercialization of clean energy technologies to reduce our nation’s reliance on foreign sources of energy,” Bush’s energy secretary, Sam Bodman, said in a Oct. 4, 2007, statement. It said the Energy Department had received 143 pre-applications for the guarantees and narrowed the list down to 16 finalists, including Solyndra.

Today, Fox News contributor Michael Goodwin affirmed that he had no issue with the underwriting by the government of certain crucial industries, only that funds allotted have to be administered judiciously.

Republican and Democratic members of the “Big-Government Party” sing from the same hymn sheet. Remember: There is no daylight between these factions once they come to power. Before a power grab, it’s all posturing.

UPDATE (Nov. 21): From the Facebook thread: For heaven’s sake: the point is that there is no difference between the Dems and the Rodents when it comes to the role of government. They both believe, irrespective of the founders’ constitution, that it is the role of the government to do just about anything it likes with funds it steals from us. The program created by The Shrub is unconstitutional, wrong, tantamount to theft. So what if thief # 1 opened the account and didn’t use it. Thief # 1 has no right to bolster any industry with my money. Or yours.