Donald R. McClarey

Black Unemployment Lowest on Record

Black unemployment in this country fell to 6.8% in the last quarter of last year.  That is the lowest black unemployment rate since records began to be kept on that subject 45 years ago.  If you haven’t heard about this

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Donald R. McClarey

Nineteen Trillion Dollar Economy

The size of the American economy is hard to comprehend.  By the end of the year total GDP should be a bit north of nineteen trillion dollars.  Our closest economic competitors, Europe and China, should have economies slightly more than

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Happy Days Are Here Again?

        Michael Snyder at Zero Hedge has 37 reasons why the talk in portions of the mainstream media about an economic recovery is utter rubbish:   There has been absolutely no employment recovery.  The percentage of Americans

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The Reality Gap

We’ve reached the point in the election where the press decides to mostly report on how the election is being perceived rather than on any particular events, and since the president is doing well in the polls this results in

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Recession Here We Come

    Hattip to Ed Morrissey at Hot Air.  Orders for durable goods dropped a calamitous 13.2% in August, the worst decrease since 2009. New orders for manufactured durable goods in August decreased $30.1 billion or 13.2 percent to $198.5

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Obama, Can You Spare a Dime?

Something for a weekend.  A variant on the song of the First Great Depression, Buddy Can You Spare a Dime.  It seemed timely in regard to the terrible economic news that came out this week: 1.  AA- -Credit rating firm reduced the

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Obama To Announce New Business Tax Cuts

President Obama will propose several new tax cuts and incentives for businesses on Wednesday, September 8th, including one which is billed as having a decidedly right-leaning flavor: President Barack Obama, in one of his most dramatic gestures to business, will

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Is the Means of Production an Obsolete Idea?

The “means of production” (which may be defined, roughly, as consisting of capital goods minus human and financial capital), is a central concept in Marxism, as well as in other ideologies such as Distributism. The problems of capitalism, according to

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Set Me Free (From Ideologies) Part 2

  To follow up on my first installment of “Set Me Free (From Ideologies), I am going to draw again from the rich well of Pope Benedict’s powerful encyclical Caritas In Veritate.  In this case it would seem that in

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Pray for the Unemployed this Advent and Christmas

In my brief life on earth I have not experienced such high unemployment amongst my family and friends this year than ever before.  As each week passes I hear of another friend or acquaintance who has lost his or her

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Moving Halloween to Saturday: Treat or Trick?

In recent years Halloween has gone from a primarily child-oriented holiday to an occasion of commercial importance comparable to Christmas or Easter. National retail sales figures indicate that Halloween is the 6th biggest holiday for retailers — behind Christmas, Valentine’s

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It's A Depression, Thus Sayeth The Veep

During these dismal economic days, we can always rely upon the  comic stylings of Joe Biden to raise our morale, just as the American public during Depression I looked to the Three Stooges for comic relief.  I assume Jolly Joe

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Red Ink

A look at the federal budget since 2000, with projections, for what little they are worth, by the White House and the Congressional Budget Office to 2019.  By CBO estimates last week, the budget deficits between now and 2019 would

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Obamanomics, or How Low Will the Dow Go!

As Glenn Reynolds at Instapundit notes here, since the passage of the Bankrupt the Nation Act of 2009, erroneously referred to as the Stimulus Bill,  the Dow has lost over 1400 points.  Since the election of President Obama, the Dow has

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Obama Finds His 9/11

Critics of the Bush Administration often complained (especially during his first term) that Bush used 9/11 as a justification for nearly everything he did. Given that the country was widely supportive of the administration in the years right after the

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Res Ipsa Loquitur (II)

I posted last week about the negative reception to Geithner’s bank plan. Here, for instance, was Paul Krugman’s take: It’s really not clear what the plan means; there’s an interpretation that makes it not too bad, but it’s not clear

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Democrat Economy

The  Bankrupt the Nation Act of 2009, often erroneously called the “Stimulus” bill, fittingly passed on Friday the 13th.

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Against Moderation

A month into the Obama administration, who could it be that left-wing firebrand economist and New York Times columnist Paul Krugman is denouncing? Is it the dividers? Is is the extremists? Is it the old way of politics? No, it’s

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Obama and the Stimulus Package

Has anyone ever wondered if it is possible that one can land in a financial crisis when one has a steady income, no debts, and a large reserve of money in case of emergencies?  Certainly, I suppose, if something devastating

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Defining a "Stimulus Package"

Jim Manzi has a good summary of the major components of the proposed stimulus package at The American Scene. A couple of charts stood out:

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