2012 Presidential Election

Scott Students of the work of Jimi Hendrix will recognize Barack Obama’s complaint that “They talk about me like a dog.” It obviously derives from Hendrix’s “Stone Free,” the first song that Hendrix wrote after arriving in England in 1966. “Stone Free” was released as the B-side to “Hey Joe,” the first Jimi Hendrix Experience single. “They talk about me like a dog,” Hendrix observes, “Talk about the clothes I wear/But they don’t realize they’re the ones who’s square.” When “Stone Free” was subsequently released as a single in the United States, it backed “If 6 Was 9,” a song that also contributes to understanding Obama’s frame of mind. In that song Hendrix poignantly laments: “White-collar conservatives flashing down the street/Pointing their plastic finger at me,” and so on.

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The Wind Cries Barry

Erin Burnett, one of CNBC’s famed “money honeys,” exaggerated the relative strength of the economy Sunday in order to boost the success of President Obama’s stimulus plan. Appearing on NBC’s “Meet the Press,” Burnett several times characterized this economic recovery as not only far stronger than any of the indicators suggest, but also “faster” than those in the recent past. “Our recovery started more quickly than after any other recession in the past 25 years,” the CNBCer told David Gregory and his panel. Burnett later elaborated on this preposterous claim as fellow panelist Rich Lowry of the National Review shook his head on screen (video follows with transcript and commentary): DAVID GREGORY, HOST: And big picture, the president maintains, in response to the jobs numbers, “Look, we’re going in the right direction here. We are part of the solution, not part of the problem.” But as I suggested to David Plouffe, there is a–an economic record there that is tough to run on. ERIN BURNETT, CNBC: Yes, very tough to run on. He’s right, though. I mean, I call it the “tortoise economy.” The economy’s growing. The numbers are coming out. We’re getting better – in fact, after this recession we have – our recovery started more quickly than after any other recession in the past 25 years. So it’s accurate to say we’re growing and we’re going in the right direction. Politically, though, how do you spin a 9.6 unemployment rate to have it be positive? That’s incredibly difficult. And it’s very hard politically to see how they’re going to make that case. ————————- MR. GREGORY: But, Erin Burnett, the big question on unemployment, if, if–and in 30 seconds, when is there a meaningful dent in the unemployment rate that can help these political fortunes? MS. BURNETT: Well, I think it’s interesting, because by the way, I don’t think the stimulus has been a failure, and I think that you are correct that it is perceived that way. But I don’t think it’s actually true. Without that stimulus, we would be significantly worse off than we are right now. There, there’s really no question about it. You can ask any economist on Wall Street or any CEO. I see you shaking your head, I know you disagree. But, but, but, but my reporting would show otherwise. E. J. DIONNE, WASHINGTON POST: Keep going. MS. BURNETT: I – look, I, I, I think the problem is you have the fastest job creation in this recovery than you have in any recession in 25 years, but it is still not enough. You aren’t going to win this on jobs, and that is the problem. It’s going to take a long time. I don’t know how you get around that problem, but technically speaking, this recovery has not been tepid. Really, Erin? And exactly how did you come to such a conclusion? Let’s begin our analysis of Burnett’s claim by first recognizing that the organization responsible for determing when recessions begin and end – the National Bureau of Economic Research – has yet to announce when the last recession concluded. In fact, as Fortune reported on August 6, NBER may be delaying its announcement to see if the economy double-dips: The National Bureau of Economic Research is known to be slow at declaring the starts and stops of a recession, but it looks as if it might have been right to hold off on any bold declarations this time around, potentially proving many policymakers and Wall Street analysts wrong. Many economists say the recession ended over a year ago — last June or July — even while NBER (the ones tasked to make the formal call) has hesitated from doing so. As early as April, the organization’s committee of academic economists said that it would be “premature” to declare an end to the recession that started in December 2007. Who knows when the NBER will declare the end of this latest recession. Whatever date it falls on, last summer certainly didn’t feel like the end of the recession even while many economists argue that it was. And in the coming year, it might feel even less like it. The NBER has never declared a double-dip recession, but believes it is basically one continuous recession with a period of growth occurring and then a slip back to a downturn. At the rate we’re going, it looks like a double-dip is plausible. As such, it is possible that months from now, the NBER data may indicate we are currently still in a recession making Burnett’s argument Sunday totally absurd. On the other hand, as the Gross Domestic Product did start growing in the 3rd quarter of 2009, let’s operate from the premise that the recession ended in June of last year. As NBER believes the recession started in December 2007, that means its duration was 18 months.  According to NBER, the early ’90s recession went from July 1990 to March 1991. Depending on how you calculate it, that’s a duration of eight to nine months. NBER views the early ’00s recession as going from March 2001 to November 2001, also a duration of eight to nine months. With this in mind, if the most recent recession ended in June 2009, it took at least twice the time to get out of it than the previous two recessions thereby completely refuting Burnett’s claim. As for job growth coming out of a recession, this “recovery” is by no means something to brag about. According to the Bureau of Labor Statistics, in the fourteen months since this recession theoretically ended, non-farm payrolls have decreased by 329,000. Even if you look at the “private sector” numbers the administration and their media sycophants have been trying to focus the nation’s attention on, this has shown a decline of 205,000 jobs since the recession “ended.” To be sure, both of these figures are better than what we saw during the early ’00s recession. However, non-farm payrolls increased by 45,000 in the first fourteen months following the end of the early ’90s recession while private sector employment declined by 220,000. If Burnett wants to hang her hat on this 15,000 private sector jobs “improvement” as a sign that this recovery is faster and stronger than the one in the early ’90s, it seems certain given all the data she’d be skating on thin ice. Of course, she’d certainly look good doing it, a fact that even Chris Matthews noticed three years ago: Yes, it appears something other than Barack Obama gives Matthews a tingle up his leg – at least that was the case in August 2007. As for Burnett, given that she represents one of this country’s foremost financial news networks, it would be nice if she did her homework before making such sweeping claims about the economy.

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CNBC Money Honey Exaggerates Job Growth to Boost Obamanomics on Meet the Press

Including … Tony Podesta ? No, it’s no shocker that Democrats have big problems in fundraising after their record from the past two years.  It’s not even a shocker that Wall Street donors have shifted their money to the GOP; that started a year ago, and has only accelerated since.  The news that Tony Podesta’s lobbyists have begun betting on Read this post

What a shock. Whiney Obama blamed George W. Bush for the economy today in his Labor Day speech. Obama is the worst jobs president since the Great Depression. The Obama-Pelosi economic plan resulted in a cumulative 7.5 million jobs deficit . By every objective measure the democrat’s Trillion dollar stimulus bomb was a complete disaster. But, since when did facts matter to “That One.” Obama blamed Bush and smeared his record today in his Labor Day speech. The Hill reported, via FOX Nation : President Obama used his Labor Day weekend radio address to defend his economic record and vow to “keep fighting” for the country’s middle class. At the end of a long week which saw the national unemployment rate uptick from 9.5 percent to 9.6 percent and Obama come under criticism for calling this summer “Recovery Summer,” the president said he remained focused on the economy. But Obama first reminded listeners of the recession he inherited from Republican President George W. Bush in January 2009. “For a decade, middle class families felt the sting of stagnant incomes and declining economic security. Companies were rewarded with tax breaks for creating jobs overseas. Wall Street firms turned huge profits by taking, in some cases, reckless risks and cutting corners. All of this came at the expense of working Americans, who were fighting harder and harder just to stay afloat – often borrowing against inflated home values to pay their bills. Ultimately, the house of cards collapsed,” Obama said. “So this Labor Day, we should recommit ourselves to our time-honored values and to this fundamental truth: to heal our economy, we need more than a healthy stock market; we need bustling main streets and a growing, thriving middle class. That’s why I will keep working day-by-day to restore opportunity, economic security, and that basic American Dream for our families and future generations.”

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Figures. Obama Bush-Bashes During Labor Day Speech

AFP – Wall Street heads into next week with strong tailwind from recent days’ rally and brighter outlook as traders keenly await President Barack Obama to unveil new plans for boosting the shaky US economy.

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Wall Street ends week with hope
(AFP)

The Labor Department announced the unemployment rate rose a tenth of a point, to 9.6 percent in August so, as the AP noted , it “has exceeded 9 percent for 16 straight months,” while the economy lost 54,000 jobs. Yet, without avoiding the dire numbers, ABC, CBS and NBC managed to find a “mixed picture,” “mixed bag” or even a “silver lining” for President Obama and Democrats two months before election day. “It’s a mixed picture here, but it’s giving some encouragement to those who are out there looking, some who are hanging onto their jobs and their businesses by a thread,” Brian Williams insisted on Friday’s NBC Nightly News. On the CBS Evening News, fill-on anchor Erica Hill saw “a bit of a mixed bag” before Anthony Mason asserted that “weak as the job numbers were, they were better than Wall Street expected” and he touted: “With American businesses creating 67,000 jobs in August, the private sector has now added jobs for eight straight months.” Over on ABC, fill-in anchor David Muir elevated Obama’s spin, teasing World News: “More jobs lost and the President, just today, taking the Republicans on. Are they standing in the way?” He introduced the subsequent story: “This country lost another 54,000 jobs in August, and the President today took on the Republicans, saying they’re the ones blocking help for small business.” In a lengthy set up leading into a report from Jake Tapper, Muir trumpeted: But some economists say there is still a silver lining in these new numbers, because if you take away the 115,000 temporary government jobs – those Census jobs we knew were going away — a slightly different picture emerges. The crucial private sector actually adding 67,000 workers in August, health care and construction leading the way. And that comes after the private sector added 107,000 in July, 61,000 in June… Nice that Muir realizes the private sector is “crucial”!   Earlier today, from Julia Seymour of the MRC’s Business & Media Institute : “ CNN’s ‘Glass One-Quarter Full’ Spin: Emphasize Private Job Gains ” David Muir, on the Friday, September 3 ABC World News: We do turn now to the political storm brewing in Washington over the new jobs numbers out today. This country lost another 54,000 jobs in August, and the President today took on the Republicans, saying they’re the ones blocking help for small business. That, in a moment, but first, the numbers. Word that the nation’s employers cut another 54,000 jobs in August, marks the third month in a row that this country has seen a net loss of jobs. But some economists say there is still a silver lining in these new numbers, because if you take away the 115,000 temporary government jobs – those Census jobs we knew were going away — a slightly different picture emerges. The crucial private sector actually adding 67,000 workers in August, health care and construction leading the way. And that comes after the private sector added 107,000 in July, 61,000 in June. It’s growth, but still not the number of private sector jobs needed to keep one the nearly 15 million Americans still looking for work. And as I mentioned, the President was quick today to frame the numbers his way and so lets turn right now to Jake Tapper. CBS Evening News: ERICA HILL: Back home, a new sign the economic recovery will be a long, slow journey. Today the Labor Department reported private businesses added 67,000 jobs in August, but overall the economy lost jobs as the Census Bureau laid off more temporary workers. And the unemployment rate inched up to a tenth of a point, a tenth of a point, rather, to 9.6 percent. Wall Street was encouraged by the news that businesses are hiring, though. The Dow jumped 128 points today for its first positive close week in a month. Anthony Mason is our senior business correspondent. So overall, Anthony, it’s a bit of a mixed bag? ANTHONY MASON: Yeah Erica, weak as the job numbers were, they were better than Wall Street expected and seemed to give investors confidence the economy can avoid a double-dip recession. With American businesses creating 67,000 jobs in August, the private sector has now added jobs for eight straight months… Brian Williams on the NBC Nightly News: Turning to the U.S. economy and the latest reading on the job market for August. Employers cut 54,000 workers from their payrolls, less than what analysts had predicted. The unemployment rate ticked up a notch: 9.6 percent now as discouraged workers restarted their job search. It’s a mixed picture here, but it’s giving some encouragement to those who are out there looking, some who are hanging onto their jobs and their businesses by a thread…

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Nets See ‘Mixed Picture,’ ‘Mixed Bag’ and ‘Silver Lining’ in Rising Unemployment Rate

In July, the dishonest far left hacks at Think Progress were caught manufacturing a fake racist tea party video. Bob Owens reported at Big Government that the far left Think Progress blog was using liberal-manufactured signs from Crash the Tea Party as evidence of tea party racism. Do you remember the abortive “Crash the Tea Party” movement? It was the brainchild of a liberal that explicitly called for progressives to commit fraud in order to attempt to discredit the Tea Party protests. At Pajamas Media we covered the abortive effort extensively, and made note of the very real bigotry the Crashers unwittingly revealed… in themselves. This morning, I came across this video from Think Progress: …Think Progress stitches together a series of posters they claim belong to Tea Party protesters. Really, Think Progress? Did you not think we’d remember the amusing signs your fellow liberals created for their little abortive “Crash the Tea Party” stunt in Boston? Let’s just say that some were more amusing than others , and some just showed pathetic and angry progressives often are. There is an old saying that you’re entitled to your own opinions, but not your own facts. Right Klik pointed out that basically every scene in the Think Progress video was manufactured . The liberal blog even included video footage from 2006 – before there even was a tea party! The Think Progress tape included a photo of this “racist” from a St. Louis rally. They forgot mention that this racist plant was kicked out of the rally. So why would a leftist website put out such an obviously doctored video in order to smear the tea party movement? The Center for American Progress (CAP) is a George Soros-funded initiative. It was founded by former Clinton chief of staff John Podesta . Think Progress is one of the CAP’s blogs that “provides a forum that advances progressive ideas and policies.” According to Discover the Networks , after Barack Obama was elected President in 2008, CAP served as perhaps the most influential organization advising the new administration. Among Obama’s leading advisers were John Podesta and at least ten additional CAP experts . But, the fact that Think Progress is a horribly dishonest leftist organization won’t stop the NAACP from joining with them to smear the tea party movement. FOX News reported: A new website sponsored by the NAACP and left-leaning media operations is seeking videographers and bloggers who will search out “racism” and “extremism” among Tea Partiers. Teapartytracker.org will feature tweets, interviews with people at rallies, blog entries and a picture of a t-shirt they say someone spotted at a rally that reads “Blacks own slaves in Mauitania, Sudan, Niger & Haiti.” The site, sponsored by the NAACP, Think Progress, New Left Media and Media Matters for America, will monitor “racism and other forms of extremism within the Tea Party movement. We call on the Tea Party to repudiate extremists among their ranks and join in civil dialogue with all Americans.” The NAACP really ought to clean up their own racist side of the street before they start pointing any fingers.

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NAACP Joins With Shameless Liars at Think Progress to Smear Tea Party

AP – A $1.6 billion congressional bailout of sorts could help financially flailing groups that fight to keep young people out of trouble, yet lawmakers are reluctant to take up the expensive proposal amid a sour economy and other, more pressing issues.

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Broke youth anti-crime groups want federal cash
(AP)

Scott The Wall Street Journal editorial staff dug up some New York Times letters to the editor by the imam behind the Ground Zero Mosque. The Journal editorial reports: In a letter published on November 27, 1977, Mr. Rauf commented on Egyptian President Anwar Sadat’s historic trip to Israel and encouraged his fellow Muslims to “give peace a chance.” That John Lennon lyric sounds good. But he added: “For my fellow Arabs I have the following special message: Learn from the example of the Prophet Mohammed, your greatest historical personality. After a state of war with the Meccan unbelievers that lasted for many years, he acceded, in the Treaty of Hudaybiyah, to demands that his closest companions considered utterly humiliating. Yet peace turned out to be a most effective weapon against the unbelievers.” The Journal also quotes Rauf supporting the Iranian revolution of 1979: “The revolution in Iran was inspired by the very principles of individual rights and freedom that Americans ardently believe in.” The editorial explains the historical reference to the Treaty of Hudabyiha and elicits this characteristically forthright comment from the imam on the status of his current views: “It is amusing that journalists are combing through letters-to-the-editor that I wrote more than 30 years ago, when I was a young man, for clues to my evolution. As I re-read those letters now, I see that they express the same concerns–a desire for peaceful solutions in Israel, and for a humane understanding of Iran–that I have maintained, and worked hard on, in the years since those letters were published.” Thanks, as always, for clearing that up.

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Give hudna a chance

Scott Yesterday Van Morrison — singer, songwriter and world-class artist — celebrated his sixty-fifth birthday. Van is an artist who has absorbed all the strains of American popular music and recapitulated them in his own unique voice. As such, he stands shoulder to shoulder with the greats in the pantheon of the Cosmic American Music. Beginning with “Astral Weeks” in 1968, Van experienced a tremendous burst of creative energy that is also reflected on “Moondance,” “His Band and Street Choir,” “Tupelo Honey” and “Saint Dominic’s Preview.” “Caravan” is one of the beautiful fantasy songs from this period. The song is Morrison’s take on Curtis Mayfield’s “Gypsy Woman” as well as a a tribute to radio and to the music that has been so much a part of his inspiration. “Turn it up, turn it up, little bit higher, radio,” goes the chorus. Why? “So you know it’s got soul” is one answer. “Caravan” is not only one of the highlights of “Moondance,” it’s also one of the two songs that Van performed with the Band at the Band’s final concert on Thanksgiving in 1976 at the Winterland Ballroom in San Francisco. The Band’s Robbie Robertson had to talk him into the other song he performed that night, a terrific version of “Tura Lura Lura.” Martin Scorsese documented Van’s performance with the Band on film in “The Last Waltz” (video above). Morrison famously overcame a major case of stage fright, first to save the show and then to steal it. Greil Marcus covered the show for Rolling Stone. Marcus described Van’s performance: Van Morrison made his entrance and he turned the show around. I had seen him not many minutes before prowling the balconies, dressed nondescriptly in a shirt and jeans, scowling; but there he was onstage, in an absurd maroon suit and a green top, singing to the rafters. They cut into “Caravan” — with [producer] John Simon waving the Band’s volume up and down, and the horns at their most effective — while Van burned holes in the floor. He was magic, and I thought, Why didn’t he join the Band years ago? More than any other singer, he fit in, his music and theirs made sense together. It was a triumph, and as the song ended Van began to kick his leg into the air out of sheer exuberance, and he kicked his way right offstage like a Rockette. The crowd had given him a fine welcome and they cheered wildly when he left. Scorsese’s camera caught Van with the barest hint of a smile as he triumphantly left the stage. “Hey, Van the Man,” Robbie Robertson exulted. Van is still going strong, both in writing and performing. I saw him last when he came through Minneapolis in December 2007. By my lights he remains a riveting, essential and enigmatic artist live and on disc.

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Turn it up!