Last month, another 130,000 Americans dropped out of the labor force, The labor participation rate is 63.9 percent, which is roughly the same rate as the 1970s. Unemployment dipped to 7.7 percent as a result of the participation rate, but remains chronically high. Companies such as JC Penney, Google, and Wal-Wart, have all announced future layoffs. Jerry Murray, Wal-Mart’s VP of finance and logistics, made news after his leaked emails referred to the company’s monthly sales figures as a “total disaster.” In March, consumer confidence fell to the lowest level we have seen since December 2011. As the market corrects from the record highs last week, the American small business is still feeling the pain and wondering: Has Atlas Shrugged?
Tag Archive: United States
The U.S dollar is shrinking as a percentage of the world’s currency supply, raising concerns that the greenback is about to see its long run as the world’s premier denomination come to an end.
When compared to its peers, the dollar has drifted to a 15-year low, according to the International Monetary Fund, indicating that more countries are willing to use other currencies to do business.
While the American currency still reigns supreme — it constitutes $3.72 trillion, or 62 percent, of the $6 trillion in allocated foreign exchange holdings by the world’s central banks — the Japanese yen, Swiss franc and what the IMF classifies as “other currencies” such as the Chinese yuan are gaining.
(Read More: Hedge Funds Reap Billions on Yen Bets)
“Generally speaking, it is not believed by the vast majority that the American dollar will be overthrown,” Dick Bove, vice president of equity research at Rafferty Capital Markets, said in a note. “But it will be, and this defrocking may occur in as short a period as five to 10 years.”
Bove uses several metrics to make his point, focusing on the dollar as a percentage of total world money supply.That total has plunged from nearly 90 percent in 1952 to closer to 15 percent now. He also notes that the Chinese yuan, the yen and the euro each have a greater share of that total.
The White House has leaked immigration legislation it’s preparing in case Congress fails to craft its own. According to USA Today, 11 million illegal aliens could apply for a “Lawful Prospective Immigrant” visa and after 8 years could get a green card. Criminals would be excluded––unless they served less than a year for their crime, or were convicted of 3 different crimes resulting in 90 days in jail. That will hearten the hit-and-run drivers and welfare cheats. Once they get a visa, their families will be in line for visas too. In other words, the president’s plan amounts to an amnesty that vaults lawbreakers, including some convicts, to the head of the immigration line.
The Republicans are squawking, but any plan they would sign off on will end up doing the same thing. Too many have drunk the electoral kool-aid and believe that caving on illegal immigrants will get them more Latino votes. But even if the Republicans’ share of Latino voters reached the 40% George W. Bush got, the Dems would still net 1.5 million more votes if illegal aliens became citizens. That’s not much of a payoff for betraying principle. And reaching that 40% appears increasingly unlikely, given that 75% of Hispanics want bigger government and more services, according to a Pew Hispanic Center poll last April, while a 2011 poll from Moore Information found that 29% think the Republican party “favors only the rich” and Republicans are “selfish and out for themselves.” They are already Democrats no matter what happens with illegal immigrants.
More important, the public discourse about illegal immigration is filled with incoherence, duplicity, and wishful thinking. One problem is the constant confusion of legal and illegal immigration. People justifiably worried about the latter are constantly chided for being “anti-immigrant” and forgetting that America is “a nation of immigrants.” But these are two separate complex problems, and trying to fix both with some “comprehensive reform” will end up with new policies that likely will make both worse. Today legal immigration is marred by “family reunification” preferences that count not just spouses and minor children but parents and siblings as “family.” Two-thirds of legal immigrants have come under these provisions, which take no account of whether or not these “family” members have skills beneficial to this country or are likely to become public charges.
Do us a favor, Al-Jazeera, keep her in Qatar, along with Al-Gore. We don’t want either of these leftist dhimmis in America.
Politico Naomi Wolf, the author and activist, is in early-stage talks with the global news network Al Jazeera, POLITICO has learned. Wolf, who currently writes a column for The Guardian, confirmed the news late Thursday night but stressed that the talks were in the earliest stages and that no job offer was on the table. ”It’s extremely informal and very, very preliminary,” she told POLITICO.
vaginacoverWolf is in a non-exclusive employment with the Guardian and has written columns for Al Jazeera and other news outlets in the past. A spokesman with Al Jazeera did not immediately respond to a request for comment regarding the talks. Al Jazeera, a Qatari-owned news network, bought Current TV from Al Gore earlier this year in an effort to expand its reach in the American market. Al Jazeera plans to announce the launch of an American-based network, called Al Jazeera America, later this year and has set about on a hiring spree to bulk up American-based staff. Wolf would be its first high-profile hire.
The title of of this leftist professor’s article is “How much free speech do we need?” So anti-American a concept, he had to go to Al-Jazeera to publish it. Of course, it’s hardly a surprise that a media outlet favored by Al-Qaeda and Al-Gore would concur with the idea that the First Amendment must be revised to restrict speech that is offensive to the most offensive people on earth – Muslims.
Erik Bleich is Professor of Political Science and Director of International Politics and Economics at Middlebury College in Vermont* (among the most far left of colleges in one of the most far left states in America) and is the author of The Freedom to Be Racist? How the United States and Europe Struggle to Preserve Freedom and Combat Racism, published by Oxford University Press.