Archive for August 31st, 2012

BOOM: Ryan lands some direct hits…

August 31, 2012

Beyond his scapling of Obama’s record, I thought he made some points that likely to resonate with specific target groups: young voters, women and small businesses.

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“College graduates should not have to live out their twenties in their childhood bedrooms, staring at fading Obama posters and wondering when they can move out and get going with life.”

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“I said, I hope it’s not a deal-breaker Mitt, but my playlist starts with AC/DC, and ends with Zeppelin.”

 

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“My Mom started a small business, and I’ve seen what it takes …   She earned a new degree and learned new skills to start her small business.  It wasn’t just a new livelihood.  It was a new life.  And it transformed my Mom … Her work gave her hope.  It made our family proud.  And to this day, my Mom is my role model.”

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“Behind every small business, there’s a story worth knowing. 

They didn’t come out of nowhere …

And if small businesspeople say they made it on their own, all they are saying is that nobody else worked seven days a week in their place. 

Nobody showed up in their place to open the door at five in the morning. 

Nobody did their thinking, and worrying, and sweating for them. 

After all that work, and in a bad economy, it sure doesn’t help to hear from their president that government gets the credit.”

  Game on !

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You can’t control everything that happens to you but …

August 31, 2012

… you can control the way you respond to everything that happens to you.

Thanks one of the admonitions from my adios lecture to my MBA students.

I was amped when Condi Rice used a version of the line in her speech last night.

Other snippets from her speech that caught my eye are below  …

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The world is a chaotic and dangerous place. 

The U.S. has since the end of World War II had an answer – we stand for free peoples and free markets, we are willing to support and defend them – we will sustain a balance of power that favors freedom.

Our friends and allies must be able to trust us. From Israel to Poland to the Philippines to Colombia and across the world — they must know that we are reliable and consistent and determined.  And our adversaries must have no reason to doubt our resolve — because peace really does come through strength.

When the world looks at us today they see an American government that cannot live within its means.  They see a government that continues to borrow money, mortgaging the future of generations to come.  The world knows that when a nation loses control of its finances, it eventually loses control of its destiny.  That is not the America that has inspired others to follow our lead.

The essence of America – that which really unites us — is not ethnicity, or nationality or religion – it is an idea — and what an idea it is:  That you can come from humble circumstances and do great things.  That it doesn’t matter where you came from but where you are going.

Ours has never been a narrative of grievance and entitlement.  We have not believed that I am doing poorly because you are doing well.

We have been successful too because Americans have known that one’s status at birth was not a permanent station in life.  You might not be able to control your circumstances but you could control your response to your circumstances

Today, when I can look at your zip code and can tell whether you are going to get a good education – can I really say that it doesn’t matter where you came from – it matters where you are going.  The crisis in K-12 education is a grave threat to who we are.

We need to have high standards for our students – self-esteem comes from achievement not from lax standards and false praise.  And we need to give parents greater choice – particularly poor parents whose kids – most often minorities — are trapped in failing neighborhood schools.

And on a personal note– a little girl grows up in Jim Crow Birmingham – the most segregated big city in America – her parents can’t take her to a movie theater or a restaurant – but they make her believe that even though she can’t have a hamburger at the Woolworth’s lunch counter – she can be President of the United States and she becomes the Secretary of State.

Click to see the video or read the full transcript

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Unbelievably, the streak rolls on: BLS under-reports initial unemployment claims … again!

August 31, 2012

Am I the only person in the world to to think this is nuts?

Media sure isn’t reporting it …

Now we’re up to 76 out of 77 weeks — and, at least 17 weeks in a row — that the BLS’s “headline number” has under-reported the number of initial unemployment claims … and cast the jobs situation as brighter than it really is.

Based on yesterday’s BLS report, the number for the week ending August 17 was revised upward from 372,000 to 374,000.

In itself, the 2,000 isn’t a big deal.

But, in context it is

Again, I ask: statistical bias or political bias?

If the former: fix it already, BLS.

Hint to BLS: just add 2k or .8% to your prelim forecast !

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* * * * *

Almost forgot … the preliminary unemployment claims for the week of Aug. 25 are reported even vs. the Aug. 11 preliminary number and up 2K vs the revised Aug. 18 number.

In other words, no indication that a corner has been turned.

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