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D - 126 and counting*

"I am not willing that the vitality of our people be further sapped by the giving of cash, of market baskets, of a few hours of weekly work cutting grass, raking leaves or picking up papers in the public parks. " --FDR SOTU, 1935

Unemployment: The world’s most frightening chart is still frightening. Izvestia: "A robust recovery continues to elude the White House”. Robama’s campaign office at the Council of Economic Advisors: "The economy is continuing to heal." Robama blames somebody else; in this case, Congress, and tries to make lowering student loan interest a job creating measure.

Unemployment: Dueling benchmarks; have they changed? Romney’s 4% is aspirational. (And what’s wrong with that?) The Atlantic sets the “politically-important” benchmark at 8% (Just like 2010). Felix Salmon: "When more than half a million people in one month decide that they’re not even going to bother looking for work any more, there’s no way you can say you’re in a healthy recovery." DeLong agrees. The Rs blast Robama's unemployment record from a call center in Manila.

My take: It's not unemployment, but DISemployment; the most frightening chart in world shows that Robama has successfully achieved a new normal where far fewer people have work (except in System D). Further, since actions speak louder than words, this is the preferred policy of the elite and both legacy parties, or they would have done something about it. FDR created 15 million jobs during his administration. He also created the WPA by executive order. Robama could do the same thing tomorrow, same as he can whack U.S. citizens without due process. He doesn't, because he thinks other things are more important: Among them, keeping people desperate to find and keep work, which keeps wages low, profits high, and enables the banksters to keep seizing people's homes as they fail to able to afford them. Just saying.

"Clooney's Obama fundraiser expected to collect record $12 million". Bainster Ed Conard (shredded by Yves here) was the headline-making million-dollar anonymous contributor to Obomney Super PAC. WSJ claims Robama tries to intimate Obomney contributors. (And indeed, “most of them are scared stiff”.) Ron Paul benefits the least from Super PACs.

Returning to Bloomberg’s Carlson’s claim that Obama can’t be swift-boated, Yves’s exclusive shows that’s not so. Whatever happened to the fine art of oppo? Surely it was and is possible to send a film crew to Grove Parc, and get at least one tenant on video about the vermin and the no-heat calls? Exactly as on the issues, tactical decisions are now made in a very narrow, a trivially narrow range. The party that impeached Bill Clinton over a blow-job can't get it together to show community organizer Obama's tenants freezing in rat-infested quarters? WTF?

Ron Paul supporters hope to take over the ME GOP. The Green's Jill Stein attends May Day rally in Gainesville, FL. And I bet Elizabeth Warren can't believe what's happening to her with the Cherokee ancestry thing. Politics ain't beanbag, even if it is kabuki.

-- Horse race-related tips, links, hate mail to lambert

* 126 days 'til the Democratic National Convention ends with a Dinner At Trimalchio's in Bank of America Stadium, Charlotte, NC. Those who go out weeping, carrying seed to sow,will return with songs of joy, carrying sheaves with them (Ps 126). Cross-posted to Naked Capitalism.

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Submitted by lambert on

I took this on over at NC, and cross-post here and there, and as long as I can keep up the pace (each one of these things takes about four hours) and the readers don't revolt, I'll keep at it.

I feel like I'm delivering a concentrated essence of the Corrente experience both in 2008 and subsequently to an audience who really needs to hear it.

I also feel it's important to document the atrocities, and since I'm mainly blogging these days, hopefully it doesn't detract.

So if you have tips and insights on these matters, and especially concrete detail about emergent parties on the ground, as well as concrete detail about D attempts to co-opt Occupy, I'd really like to hear about them so I can propagate. You can post in comments on this thread. Please!!

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Submitted by beowulf on

Mitt Romney raised the bar for what comprises an unemployment rate worth celebrating as he used the latest jobs figures to criticize President Barack Obama’s management of the economy while campaigning in Pennsylvania.
“Anything over four percent is not cause for celebration,” the presumptive Republican presidential nominee said inside a warehouse of a specialized cement and corrosion- resistant materials manufacturer in Pittsburgh.
from link above

The interesting thing is this is already the full employment target under Federal law.

The medium-term goals in the first three Economic Reports and… in each Economic Report thereafter shall include… reducing the rate of unemployment, as set forth pursuant to section 1022(d) of this title, to not more than… 4 per centum.
15 USC 1022a(b)
http://monetaryrealism.com/mike-talks-ro...

From what critics are saying (e tu, Krugman?) you'd think Romney was endorsing a crazy impossible pipedream, like, say, (1) landing a man on the Moon and (2) returning him safely to the Earth (I shudder to think how the Fed would balance THAT dual mandate). In fact, the 4% target has been reached as recently as the Clinton administration; U3 rate bottomed out at 3.8% in the spring of 2000, without accelerating inflation.

Submitted by lambert on

It's not just the "critics," it's the press in general. That was the spin, that 4% was crazy talk.

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