Archive for the 'Uncategorized' Category


Thursday, March 22nd, 2012

The Republican contenders for president, Newt Gingrich in particular, have been attacking President Obama for not doing enough to bring down oil prices. This sounds great on the campaign trail, but it doesn’t have much to do with economic reality.
Current world oil consumption is 80 million barrels per day. The US consumes 21 million barrels [...]

Republican double standard?

Monday, January 9th, 2012

Two issues have come up recently in Washington that raise soem interesting questions.
Recess appointments
At the end of 2011, President Obama made several “recess appointments”, including to the new Consumer Financial Protection Bureau and the National Labor Relations Board. Republicans immediately went into attack mode, decrying the president’s use of recess appointments to avoid congressional approval. [...]

What did we learn from the Iowa caucuses?

Thursday, January 5th, 2012

The results are Romney and Santorum tied at 25% each with Ron Paul in a close third at 22%. Gingrich finishes 4th with 13%, Perry 5th at 9%, Bachman 6th at 5% and Huntsman last at 1%. Bachman is now gone. Perry was almost gone, but now he is almost back. Romney is touting his [...]

Chevron is Losing Money!?!?!?!

Monday, August 15th, 2011

Chevron has been running a series of adds lately on the Sunday morning news and business shows in a transparent (at least to me) attempt to bolster their public image. One such add starts with an ostensibly (I would suggest obviously) blue collar guy saying “The oil companies make huge profits. Where does it go?” [...]


Wednesday, May 18th, 2011

Donald Trump recently claimed that he had accomplished what no one else had managed to do: force President Obama to release the long form of his birth certificate. The fact that this actually accomplished absolutely nothing (since only morons are unwilling to accept the established fact that Barack Obama was born in Hawaii) is beside [...]

State Budgets and Skyrocketing Unemployment

Tuesday, February 8th, 2011


Every state in the U.S. is currently experiencing dramatic budget shortfalls. Unlike the federal government which can run budget deficits and/or print money (both of which the feds are doing on a massive scale), the states have to balance their budgets. (They can borrow money, but not like the feds.)
Because of the economic collapse in [...]

ADP Blows the December Jobs Estimate

Thursday, January 6th, 2011

On January 4, ADP Employer Services announced that the US economy added 297,000 jobs in December. Most economists had estimated 100,000 jobs were added. The US Bureau of Labor Statistics will announce the “official” number on January 7. (Which is almost always revised about a month later.)
As consumer spending accounts for about 70% of the [...]

The Obama/Republican Tax Deal

Wednesday, December 15th, 2010

What are the key features of the tax deal?
-     The Bush tax cuts will be extended for two years. (Until the next elections in Fall, 2012. When we will get to do it all over again.)
-     The tax cuts will include everybody, including the top 2% of all Americans. (The Democrats wanted to extend the [...]

The Employment Numbers are Worse than You Think

Friday, December 10th, 2010

Where are we? There are currently 15,000,000 unemployed workers in the U.S. Approximately 9,000,000 of them are receiving unemployment benefits, either from the states or the feds. (Many of them are about to lose their benefits, unless Congress passes the Obama/Republican tax bill, which will extend benefits for many unemployed people by another 13 months.)
We [...]


Tuesday, November 24th, 2009

The U.S. misadventure in Afghanistan started in 2001 because Islamic militant training camps supported the 9/11 attacks. Assuming this was a legitimate purpose, we made only a half-assed commitment to the Afghan war for all of the Bush 43 presidency. (Iraq, which played no demonstrable role in the attacks, moved to the front of the [...]

by Michael Baumer