BLACK TEENAGE UNEMPLOYMENT JUMPS FROM 40.6% TO 45.4%
NPR concludes 'Recovery Summer' Ends With Economic Pothole. How right it is. The 9.6% unemployment rate is not the worst of it. As always, an ideologue chasing equality, inevitably hurts those he promises to aid - the most vulnerable amongst us, teenagers, most specifically black ones whose chances of getting employment has been additionally undermined by the raise in the minimum wage. Not that NPR, like the rest of the media would focus attention on it in the manner they would if a pro-capitalist such as Ronald Reagan or George W. Bush were sitting in the White House. I am, of course, referring to the vacation addicted spendthrift Barack Hussein Obama. He must be shamed to face reality. That means he has to eat crow by reassuring businesses that he will do nothing more to change the economic environment in which they operate. To invest, they must be able to plan. A few warm words and a new economic team would not come amiss either.
David Brooks is right. Obama failed to use the crisis as an opportunity. He simply made us poorer and more indebted to Communist China.
Ben Bernanke was wrong. He assumed that if he does the opposite of what was done in 1929 he will save the country from depression. But that is a logical fallacy familiar to anyone studying Logic 101. If A leads B, it does not mean that not A leads to not B.
Not that Paul Krugman or Robert Reich will ever acknowledge it. They recommend following the road to insanity: repeating the same behavior in expectation of a different outcome. But, then, they are members of the ruling elite, not teenagers looking for their first job. Oh, yes, white teenage unemployment"only" rose from 23.5% to 23.8%.
The best news is that even college graduate unemployment inched up from 4.5% to 4.6% despite the fact that just last month their participation in the work force declined from 76.2% to 75.8%. This is the only statistic the ruling elites cares about. They may just may be convinced to stop digging and, maybe, just maybe, do what is needed to begin to fill the pothole.
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