Archive for October 25th, 2012

Hard to believe … the BLS streak rolls right on.

October 25, 2012

I though the BLS might find some old time religion – or at least hire a new stats guy – since they got hammered on the incredible 7.8% unemployment number.

Not so.

And, the BLS streak — understating initial claims – continued.

Now we’re up to at least 25 election season 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 today’s BLS report, the number for the week ending October 13 was revised upward from 388,000 to 392,000 … making this week’s headline look 4,000 better.

Glad the election is only 12 days away.

Wanna bet that the BLS makes a post-election change to their methodology?

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Contrasting styles …

October 25, 2012

Iowa is a swing state.

The Des Moines Register is expected to endorse Obama on Sunday.

Here’s  today’s front page from the Register …

 

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Blame it on Mr. Bill … say, what?

October 25, 2012

Holy alibi, Batman.

Circle October 24, 2012 on your calendars.

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It’s the day that the NY Times posted to the official record “How Bill Clinton May Have Hurt the Obama Campaign”:

there is one crucial way in which the 42nd president (Clinton) may not have served the 44th (Obama) quite as well.

In these final weeks before the election, Mr. Clinton’s expert advice about how to beat Mitt Romney is starting to look suspect.

…  just after Mr. Romney locked up the Republican nomination, Mr. Obama’s team abruptly switched its strategy for how to define him.

Up to then, the White House had been portraying Mr. Romney … as inauthentic and inconstant, a soulless climber who would say anything to get the job.

But it was Mr. Clinton who forcefully argued to Mr. Obama’s aides that the campaign had it wrong.

The best way to go after Mr. Romney, the former president said, was to publicly grant that he was the “severe conservative” he claimed to be, and then hang that unpopular ideology around his neck.

Ever since, the Obama campaign has been hammering Mr. Romney as too conservative, while essentially giving him a pass for having traveled a tortured path on issues like health care reform, abortion and gay rights.

It’s not hard to understand why Mr. Obama and his advisers took Mr. Clinton’s advice to heart; to disregard it would be like telling Derek Jeter, “Hey man, appreciate the input, but I think I know how to make that flip play from the hole just fine on my own.”

For a while this summer and into the fall, the Obama-Clinton strategy seemed to be working flawlessly.

But in recent weeks, starting with the first debate, the challenger has made a brazen and frantic dash to the center, and Mr. Obama has often seemed off-balance, as if stunned that Mr. Romney thinks he can get away with such an obvious change of course so late in the race.

Which, apparently, he can.

Couple of questions:

1. Wasn’t it Bill Clinton who stole the show at the DNC and gave Obama’s campaign some oomph?

2. Wasn’t that Bill Clinton (with Springsteen) revving up the crowds in Ohio?

3. Didn’t Hillary just fall on her sword to protect Obama in the Benghazi mess?

4. Isn’t it a bit early to start pinning the blame for a loss?

Of course, I’m hoping that the Times knows something that I don’t … and the election is a fait accompli.

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80 CEO’s call for deficit action … only 80?

October 25, 2012

Lead story in the WSJ today is that 80 CEOs (click for listhave banded together to nudge Congress towards bipartisan deficit reduction … i.e. get the fiscal cliff resolved.

The group – calling themselves Fix the Debt – issued a public statement.

Here are snippets from the Journal’s recap:

Any fiscal plan “that can succeed both financially and politically” has to limit the growth of health-care spending, make Social Security solvent and “include comprehensive and pro-growth tax reform, which broadens the base, lowers rates, raises revenues and reduces the deficit.”

“You can’t tax your way to fix this problem, and you can’t cut entitlements enough to fix this problem.”

The executives didn’t endorse Mr. Obama’s proposal to raise the marginal income-tax rates for the top 2% of taxpayers or any other proposal.

Rather, they called for an overhaul of the tax code that, among things, would eliminate or reduce deductions, credits and loopholes (known as “broadening the base”), and one that also would bring the Treasury more revenue than the existing code does.

Notably absent from the Fix the Debt list are CEOs from big U.S. energy companies, some of whom fear that tax increases will fall more heavily on them.

Hard-line foes of tax increases aren’t likely to be moved by the CEOs.

“When bipartisan deals are struck promising to cut spending and raise taxes, the spending cuts don’t materialize but the tax hikes do,”

Raises a couple of questions:

1. Where have these jabrones been?

2. Only 80 CEOs?  Where are the rest?

3. Is a public statement rehashing the obvious the best they could do?

C’mon guys, mobilize for the good of the country.

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“I inherited the deficit” … say, what?

October 25, 2012

Draw your own conclusion, but looks to me like Obama inherited a $500 billion deficit

…. goosed it by a trillion dollars to kinda stimulate the economy

… and has hung well over a trillion dollars, way after the Stimulus.

What’s he talking about?

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Source: Hot Air.com

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While we’re at it, note how the current recovery stacks up against prior recession recoveries …

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Source: Hot Air.com

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Compare the economic recovery plans …

October 25, 2012

Seriously, before you vote, at least glance at the plans being offered by Obama and Romney.

You decide which is substantial and which is fluff ..

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click to view very short video intro

click to view plan

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click to see Business Insider’s summary of the plan’s highlights:
Obama Has Released A 27-Point Plan For His Second Term, And It’s A Doozy

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click to view

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click to see Business Insider’s summary or Romney’s plan
Here’s Everything We Know Now About Mitt Romney’s Economic Plan

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“These jeans are made of garbage” … and, that’s a good thing.

October 25, 2012

Punch line: Levi’s, eager to reduce its reliance on water-intensive cotton, has already used 3.5 million plastic bottles in its new Waste​<​Less jeans.

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Excerpted from Bloomberg Businessweek’s, “Levi’s Goes Green With Waste​<​Less Jeans”

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Most apparel companies work hard to give their clothes the sheen of sophistication or whimsy. Levi Strauss is trying hard not to.

When its latest line of jeans arrives in stores early next year, the pitch will be: “These jeans are made of garbage.” Crushed brown and green plastic bottles will be on display nearby.

In 2007, Levi’s was among the first in the apparel industry to conduct a life-cycle assessment of some of its major products.

After measuring environmental impacts … Levi’s found that 49 percent of the water use during the lifetime of a pair of 501 jeans occurred at the very beginning, with cotton farmers.

It turned out that the manufacturing process, where Levi’s can exert the most control, had the least impact on water and energy use.

So Levi’s joined the Better Cotton Initiative … to teach farmers how to grow cotton with less water.

The first of the cotton was harvested last year, and Levi’s blended its share into more than 5 million pairs of jeans.

“Is turning eight bottles of plastic into a pair of jeans worth it? I think so,” says James Curleigh, president of the Levi’s brand.

Curleigh … argues that any reduction in Levi’s cotton use, however small, is worth it: “Cotton is the single most volatile commodity in the apparel industry. Never mind sustainability for a minute. If I could come up with a way to put 20 percent of something else that is cost-neutral and has a reliable source, I would probably take it anyway.”

Edit by JDC

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