May 5, 2006 § Leave a comment
ABC’s Dan Arnall reports, ” “Dow futures ticked up significantly on the news, as traders believe slowing jobs growth likely means an end to the Fed’s two-year rate tightening run. It could give us enough fuel to get to that new record Dow level (11,722.98).”
That slowing jobs is good for the economy shows that the economy is not equated to people earning money but to owners getting dividends. Now I know that there are secondary effects, such as money needs to be reinvested, slow inflation is good, but that it means lower incomes for those who work is not good. Period. The key point here is that the economy, like the workers, work for those who own, and they in turn are not concerned about social well being but about profit. The pressure from leadership to not talk about class warfare is intense. It is the rhino in the punch bowl.
Interesting to see where politicians are placing themselves towards 2006. George Allen is for innovation .
Allen is expected to speak to the class of 2006 about the importance of keeping America “the world capital of innovation.”
With the end of the cold war, and the fall of the soviet union the US had a great opportunity. We even talked about (remember?) the peace dividend. But we did not deal well with Russia, instead did everything to force it to a kind of capitalism that let assets be bought. the reaction towards Russian historical norms of governance filled the vacuum. So we have the current administration confused as to what to do now. I would be for admitting mistakes and trying to make a new beginning.
the political problems the Administration faces in deciding whether to attend July’s G8 conference in St. Petersburg, including calls by Sen. John McCain (R-AZ) to have Bush boycott the summit. “Administration officials are increasingly concerned about President Bush’s attending a meeting of the world’s major democracies in a country that by most definitions is not.”
But to give credit
The Wall Street Journal sees Cheney playing “bad cop against the good cop of Secretary of State Condoleezza Rice, architect of Mr. Bush’s original outreach to Moscow. Her tone lately has been much more moderate.” LINK
The following is an example that might trigger the Jospeh Taintor collapse scenario.
In what might be viewed as another defeat for the President yesterday, the House overwhelmingly passed legislation allocating $7.4 billion for port security, “just hours after the White House expressed strong misgivings over the cost and feasibility of the bill.” LINK