Friday, January 27, 2012

2011 worse than 2010

What’s new Today

Story #1 is about how dismissive the Democrats are of real jobs for Americans.  #2 is a great article to help you know what is really going on in manufacturing in this country.  #3relates the bad news from 2011—growth was only 1.7 percent.  #4 is a fun political ad where you get to see Obama is the captain of our ship.  And #5 is another obituary for Global Warming. 

1.  Keystone and the Democrats

Hey there, one of the many millions wanting to be employed unemployed. And you too, all the many pouring more and more of your once discretionary income into your car's gas tank. Representative Jan Schakowsky (D-IL), Chief Deputy Whip of the House Democrats, who once served in the notoriously corrupt Illinois legislature with a guy named Barack Hussein Obama (D) before both were somehow elected to wreak their havoc on the rest of the country, doesn't seem to think your situation is so bad.

Interviewed on Chicago's popular Don and Roma Show she brushed off concerns about the estimated 20,000 jobs the now vetoed Keystone Pipeline would have created by stating

"Twenty thousand jobs is (sic) really not that many jobs and investing in green technologies will produce that and more."

And the now grandiosely bankrupt green (as in consuming American dollars) Solyndra created how many jobs? …

In Obama’s world, 20000 jobs aren’t that many jobs, and losing $500,000,000 on Solyndra isn’t that much money, and spending deficits over $1 trillion is just a drop in the bucket.  And in Obama’s world all of these are reasons he needs a second term.

2.  Manufacturing

The U.S. is still the leading manufacturing nation on earth, while China and India are growing much faster in their manufacturing. This is good, not bad. They need to grow. They each have huge populations and an emerging middle-class demographic that demands a better standard of living. The economic pie of world wealth is not fixed, it is dynamic and getting bigger. We should be glad they are growing their middle class. But this hardly means the U.S. is becoming irrelevant in manufacturing. The U.S. produced 19% of the worldwide value-added manufacturing output in 2008 and about 22% of that was exported. The U.S. is the 3rd largest exporter and the number one manufacturing economy in the world as depicted here:

The percent of GDP that manufacturing occupies has remained about the same for the past 30 years. In 1900, 3% of the labor force was involved in farming. By 1990, that fell to 2.6%. Why is that important? Because, over time, farming became much more productive and mechanized and required less labor. Manufacturing labor is similar to farm labor in terms of a slow decline in its share of employment and national output. But adjusting for price changes, the share of GDP for the manufacturing sector has tracked with the overall economy over the past 60 years.

There’s a lot of conversation about manufacturing.  What is amazing is that most people would think you are daft if you told them the USA was the largest manufacturer in the world and the third largest exporter of manufactured good.  But it’s true. 

3.   2011:  Growth 1.7 percent

Real GDP increased 1.7 percent in 2011 (that is, from the 2010 annual level to the 2011 annual level), compared with an increase of 3.0 percent in 2010.

The increase in real GDP in 2011 primarily reflected positive contributions from personal consumption expenditures (PCE), exports, and nonresidential fixed investment that were partly offset by negative contributions from state and local government spending, private inventory investment, and federal government spending. Imports, which are a subtraction in the calculation of GDP, increased.

Not exactly a barnburner….

From what I’ve seen, growth is normally fastest when you first come out of a recession.  This is not very good news for the country.  If 3% is the peak of growth, perhaps we need some new ideas.

4.  Have some fun—a political ad that isn’t awful

Obama is such a sitting duck. 

5.   Scientists: Chill on global warming

16 actual scientists have joined 1973 Nobel-winning physicist Ivar Giaever in calling global warming concerns overblown. In a letter published in the Wall Street Journal today, the scientists called for everyone to remain calm — and mocked the alarmism by UN bureaucrats over global warming and carbon dioxide.

They recommended that the world do nothing about global warming for the next 50 years.

“The fact is that CO2 is not a pollutant,” the scientists wrote in their letter, which the Wall Street Journal headlined: “No Need to Panic About Global Warming. There’s no compelling scientific argument for drastic action to ‘decarbonize’ the world’s economy.”

The letter went on to explain that warming may actually benefit life on Earth: “CO2 is a colorless and odorless gas, exhaled at high concentrations by each of us, and a key component of the biosphere’s life cycle. Plants do so much better with more CO2 that greenhouse operators often increase the CO2 concentrations by factors of three or four to get better growth. This is no surprise since plants and animals evolved when CO2 concentrations were about 10 times larger than they are today. Better plant varieties, chemical fertilizers and agricultural management contributed to the great increase in agricultural yields of the past century, but part of the increase almost certainly came from additional CO2 in the atmosphere.”

The scientists did not dismiss entirely the idea that carbon dioxide and other greenhouse gases may be increasing temperatures. The scientists simply said there is no proof that the globe is warming.

“The lack of warming for more than a decade — indeed, the smaller-than-predicted warming over the 22 years since the U.N.’s Intergovernmental Panel on Climate Change (IPCC) began issuing projections — suggests that computer models have greatly exaggerated how much warming additional CO2 can cause,” the scientists wrote. “Faced with this embarrassment, those promoting alarm have shifted their drumbeat from warming to weather extremes, to enable anything unusual that happens in our chaotic climate to be ascribed to CO2.”

Global warming is basically dead as an issue. 

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