Stroked Again

“Global warming” and “climate change” are proven hoaxes and are intended to empty the pockets of unwitting U.S. taxpayers. Those who believe the administration’s claims that jobs will be generated by “greening” this and “greening” that, are being hoodwinked by charlatans.

“Health care”, the other head-liner, is being kicked around like a soccer ball in a deliberate effort to consume valuable time and resources. Providing medical services to the needy – health care – is a commendable goal, but sadly, those doing the kicking are interested only in what will feather their own nests. Those foxes are already guarding too many chicken coops. National health care will be workable only when and if the altruistic among us get involved with the program’s design. Health care still won’t create the number of job opportunities the country needs, however. And it’s critical that we replace the jobs we’ve been hemorrhaging.

Yesterday’s Associated Press releases were not at all encouraging:

– “New jobless claims rise unexpectedly to 576,000 – The number of first-time claims for unemployment benefits rose unexpectedly for the second straight week, a sign that jobs remain scarce even as other data show the economy is stabilizing. The Labor Department said Thursday the number of new jobless claims rose to a seasonally adjusted 576,000 last week, from a revised figure of 561,000. Wall Street economists expected a drop to 550,000, according to a survey by Thomas Reuters.

– “Mortgage delinquencies hit record high in Q2 – More than 13 percent of American homeowners with a mortgage are either behind on their payments or in foreclosure as the recession throws more people out of work, the Mortgage Bankers Association said Thursday. The record high numbers in the report are being driven by borrowers with traditional fixed-rate mortgages, rather than the shady sub-prime loans with adjustable rates that kicked off the mortgage crisis. As of June, more than 4 percent of all borrowers were in foreclosure and about 9 percent had missed at least one payment.

Yesterday’s Journal of Commerce headlines were just as troubling:
– “Charleston Profit Falls 53 Percent”
– “NY-NJ Containers Fall 18.8 Percent”
– “Japan Ship Orders Sink 63.2 Percent in July”
– “Coal Leads Plunge in Great Lakes Volume”
– “Container Ship Orders Hit Four-Year Low”

All those stories put an exclamation point on this nationwide problem – job losses – and unless we replace those jobs, U.S. society will enter a stage never before encountered. This isn’t just a case of treading water and waiting to be rescued. The country is going under for the third time. Instead of admitting that they see no way out of this mess, however, the administration is wasting valuable time waiting for some kind of an economic miracle to happen. In plain English, they’re lying to us.

For starters, that statement that “other data show the economy is stabilizing” … what “other data” are they talking about? What have they presented as evidence? What can they present as evidence? Everything is crashing, but as Will Rogers and P.T. Barnum knew, newspapers can be used to hide the real truth. The public “only knows what they read in the newspapers.” That’ll buy some time.

And that part about “the sub-prime loans with adjustable rates that kicked off the mortgage crisis” … that’s an out-and-out fabrication that originated in Washington. That “mortgage crisis”, you know, is what brought on the recession. At least that’s what Washington has told us.

The truth of the matter is that sub-prime loans provided home ownership to many who had never been able to acquire a home of their own. For years and years those new home owners were paying their monthly installments, quite comfortably, because they had weekly paychecks. They were gainfully employed, and if they were still gainfully employed they’d still be paying that monthly mortgage payment.

As far as the homeowner was concerned, sub-prime loans were a blessing, but when that homeowner was laid off that mortgage payment became an intolerable burden … just like the monthly payment for the car loan, and for the gas bill, and the electric bill, and the grocery bill, etc., etc., etc.

Did all those crippling monthly bills “kick off the mortgage crisis” and the consequent recession? All were affordable, we recall, including the mortgage payment, until that homeowner was laid off, then repossessions, bankruptcies and foreclosures became household words … and household nightmares.

In Washington, most of the power is issued through “a stroke of the pen”. One of the most earth-shaking events occurred a number of years ago when a U.S. Secretary of State disarmed one of our staunchest allies with the words, “With a stroke of the pen I armed him, and with a stroke of the pen I disarmed him.” An antagonistic Communist China was the disastrous consequence.

But prior to that historic blunder, the nation’s Chief Executive, FDR, utilized a similar “stroke of the pen” to bring about the kind of economic miracle being fantasized by today’s Washington elite. The snake oil they’re palming off as that miracle, however – that inane “jobless recovery” smokescreen – will never happen because it can’t happen. It’s nothing more than pretentious nonsense. It might buy time with the average Joe though, because … well, you know what Will Rogers always said … But don’t count on it this time. The average Joe is hurting.

Neither $ 250 stimulus bonuses to the old folks nor trillion dollar bonuses to Wall Street wolves nor the administration’s day-to-day stalling tactics will provide the economic miracle we’re being promised. Job losses by the millions were the cause of this 21st Century depression and the only way to halt our dreadful graveyard spiral is to replace those lost jobs. Is that too hard to understand?

Would it be asking too much of our leaders to check out FDR’s “strokes of a pen” in the 1930’s? Would it be asking too much of them to look beyond the medicines spooned out to Wall Street in the 30s and look, instead, into the Emergency Shipbuilding Programs – the real economic miracle?