Unemployment
There is not much new in the news but it is just packaged in A different way.
The Obama administration is still dealing with high unemployment-the latest numbers (October 3, 2009) show 263,000 lost jobs and a jobless rate of 9.80%. The teenage unemployment rate hit 25.90% after raising the minimum wage to $7.25 per hour while the black male teens rate was 50.4%. Obama’s “brain trust” does not get it. They are not only not creating new jobs but they are halting increases in new jobs.
For example the U.S. Geological Service issued a report in April 2008 in regard to the Bakken oil discovery. This discovery turned out to be the largest oil discovery since Alaska’s Prudhoe bay. The estimates are 503 billion barrels. The area stretches from northern Montana through North Dakota and into Canada. This could be one of the largest untapped oil reserves in the world. Are you listening enviros, Democrats, Obama cabinet members? How many jobs could be created by opening up This area. Don’t forget Alaska and off shore fields - this country has probably a million jobs just waiting to be created.
How is Cap and Trade going to provide more jobs? How does raising taxes create jobs? How about another Democrat idea- raising tariffs? I wrote a paper for an economics course over 50 years ago entitled “The Tariff”. The paper was written for a professor named Mr. Break at U.C. Berkeley. In 1930, the Hawley Smoot Tariff raised the American import duties considerably above the already high levels of the Act of 1922. The results were disastrous. The additional barriers raised against the entrance of foreign goods into the U.S. made debt payments difficult and was a contributing factor in inaugurating a series of debt repudiation. A tariff is a tax on imports. When a country reduces its imports by trade barriers, its exports, As a rule suffer also. During the Great Depression, trade barriers spread from one country to another like an epidemic. My report states, in conclusion, that influential congressmen and businessmen will see the correlation between material prosperity and world trade. I should put my 50 year old report on the web and let the Obamaites read it.
The California water problem keeps getting worse with water being taken from Friant Dam to help the salmon return. There Is some sunshine in that maybe the pumps will be turned on for A short time to help our West Side. More to come
Gary E. Marsella