It’s like the Carter years all over again

Shrinking incomes.

Bottom line: The average individual now has $1,315 less in disposable income than he or she did three years ago at the onset of the Great Recession – even though the recession ended, technically speaking, in mid-2009. That means less money to spend at the spa or the movies, less for vacations, new carpeting for the house, or dinner at a restaurant.

In short, it means a less vibrant economy, with more Americans spending primarily on necessities.

And misery index creeping into view again.

Per capita disposal personal income – a key indicator of the standard of living – peaked in the spring of 2008, at $33,794 (measured as after-tax income). As of the second quarter of 2011, it was $32,479 – almost a 4 percent drop. If per capita disposable income had continued to grow at its normal pace, it would have been more than $34,000 a year by now.

The so-called misery index, another measure of economic well-being of American households, echoes the finding on the slipping standard of living. The index, a combination of the unemployment rate and inflation, is now at its highest point since 1983, when the US economy was recovering from a short recession and from the energy price spikes after the Iranian revolution.

Let’s hope Obama continues the Carter tradition  and we can see a sketch like this on SNL in 2013…

Hope and change…

Interesting Graph: Are you really spending more hours working for the man?

The Adam Smith Institute has this interesting graph illustrating the average working hours in various countries. The trend is unmistakable.

People are spending fewer hours working.

click for larger version

Tim Worstall @ ASI points out:

I can’t see that increase in working hours either. So we’ve one parp in the face of those who keep telling us that we’re getting this work/life balance thing wrong. But we can go further too. Market or paid working hours are only part of the work that we do. We all also do unpaid working hours inside the home, so called household production. The cooking, the cleaning, general maintenance and so on. And hours spent on these activities have been falling even faster than those paid working hours.

The net result of all of this is that we are enjoying ever more leisure time: yes, including even commuting and everything, we’re getting more leisure than any of the previous generations.

Which is of course just as it should be. As we’re generally getting richer (OK, last couple of years apart) then we’re choosing to take some of that greater wealth in more leisure, not just chasing after ever more money for shiny gewgaws.

Data such as this flies in direct conflict with all the leftist / eco-warrior propaganda that tells us that if we stop growing the economy we can have more lesiure time and save the entire planet at the same time.

As pointed out here @ MCT months ago, as we have become richer as a society, we tend work fewer hours, not more.

Way to alter the transcript PBS…

PBS altered its transcript from Obama’s lecture on jobs Thursday night to cover his gaff where he incorrectly claimed Abraham Lincoln was the founder of the Republican Party.

Via the American Thinker:

Actually, they did more than yawn; government-funded PBS has altered the transcript of the President’s speech, removing the offending comment.

The New York Times transcript has the following quote:

“We all remember Abraham Lincoln as the leader who saved our Union. Founder of the Republican Party. But in the middle of a civil war, he was also a leader who looked to the future — a Republican President who mobilized government to build the Transcontinental Railroad — (applause) — launch the National Academy of Sciences, set up the first land grant colleges. (Applause.) And leaders of both parties have followed the example he set.”

But how does it appear in the PBS transcript?

“We all remember Abraham Lincoln as the leader who saved our Union. But in the middle of a Civil War, he was also a leader who looked to the future – a Republican president who mobilized government to build the transcontinental railroad; launch the National Academy of Sciences; and set up the first land grant colleges. And leaders of both parties have followed the example he set.”

Oh, and President Lincoln didn’t mobilize ”government build the Transcontinental Railroad” either.

It seems that in Obama’s world view, only government can do things

History from the War of 1812: The Surrender of Detroit

Martin, outstanding blogger at What Would he Founders Think? and good friend of MCT posted a great historical news article discussing the surrender / siege of Detroit that happened August 15th & 16th, 1812 .

Martin describes what happened during those dark days:

General Hull served bravely in the American Revolution but was a scared shell of a man in the War of 1812. He allowed himself to be bamboozled by General Brock and even more so by Tecumseh. He was terrified of the Indians.

Tecumseh paraded his warriors around the walls of Detroit 3 times to make it seem like there were more Indians than there were. Brock dressed Canadian militia in the spare uniforms of British regulars. They both played on Hull’s fears.

According to some accounts, Hull lost his nerve and collapsed in fear, drinking himself into a stupor.

Be sure to read the rest.

Wednesday Night Links: The Skull Nickel Edition


Skull Nickels:

Although the history of carving miniature bas relief sculptures into coins stretches back to the 18th century if not earlier, it was greatly popularized in the early 20th century with the introduction of the Buffalo nickel. This particular coin was minted using soft metal and was imprinted with the portrait of an indian with bold features, making it easier to deface and transform into the portraits of other people, animals, or even scenery. Add to that the idle hands of unemployed artists during the depression (thus, “hobo”) and soon a flood of curious numismatic treasures were born.

Click here for more examples.

Now on to the links…

Cynical Synapse: Obama’s Jobs Plan? Just Stimulus 2.0
Bunker: Shooting spitwads called ‘violent criminal conduct’
CoF: Game Over! Time to Forgive and Forget
Sentry Journal: Another way: Social Security vs Private Retirement Accounts
TCOS: But What’s Puzzling You Is The Nature Of My Game

TMGGB: Young And Dumb And Full Of Piss And Vinegar
CP: “The Jobs Speech” Preview Trifecta
TheCL: Toward a New Fusionism
CH2.0: Great Moments in Civil Discourse
WWTFT: An Interesting Letter from Alexander Hamilton

Gator: ObamaCare Backers In Wisconsin Produce Report Showing That The Health Care Overhaul Will Make Health Insurance More Expensive
WyBlog: “The Obama 2012 Chitty Chitty Bang Bang Bus Tour floated into Wayne, NJ today and at least one star-struck homeowner is high on Hopium”
TBA: Finally Home, Back to Normal…Hopefully
The Eye: It means you and Google need to get better acquainted.
Todays World News: Signs Of The Times – UN Vote In Sept Could Divide The World Over Israel

And now my favorite skull nickel:

The Long Shadow Of The Progressives: Richard Milhous Nixon


Recently, I read this article discussing how Mitt Romney, according to GOP insiders, would fare better than someone like Rick Perry in the general election against Obama.

The obvious reaction to this is “yeah, that is what they said about McCain.”

GOP ‘insiders’ are recycling the idea that a candidate, such as Romney, will appeal to moderate voters (where the election is won) in the general election. In other words, the GOP ‘insiders’ are pushing the idea that a more liberal / progressive Republican candidate is the key to winning the 2012 election.

To understand how bad a liberal / progressive Republican occupant in the White House can be, you don’t have to look too far back in history. For one example, go back to the late 60′s through the early 70′s and take another look at Richard Milhous Nixon.

I realize most people don’t associate Richard Nixon with the Progressives. I mean he was a Republican after all. However, looking at many of Nixon’s domestic policies, he acted more like a liberal / progressive than a conservative:

Foreign policy initiatives represented only one aspect of Nixon’s presidency during his first term. In August 1969, Nixon proposed the Family Assistance Plan, a welfare reform that would have guaranteed an income to all Americans. The plan, however, did not receive congressional approval. In August 1971, spurred by high inflation rates, Nixon imposed wage and price controls in an effort to gain control of price levels in the U.S. economy; at the same time, prompted by worries over the soundness of U.S. currency, Nixon took the dollar off the gold standard and let it float against other countries’ currencies.

A president suggesting the federal government guaranteeing every American an income? Sounds very progressive. Sounds very FDR-like. The idea also sounds a lot like a state run health care initiative.

Aside from being the only president to resign, the lasting legacy of Richard Nixon is the one agency (besides the IRS) that liberals love. The EPA.

…because there are no local or State boundaries to the problems of our environment, the Federal Government must play an active, positive role. We can and will set standards. We can and will exercise leadership.

State of the Union Message on Natural Resources and the Environment, February 14th, 1973

Federalism? Nope. The 10th Amendment? Ignore it.

Nixon created a sprawling agency with broad and sweeping powers that, at their essence erode personal property rights. They have gone as far to classify, through the use of pseudoscience, CO2 (the gas all humans exhale) as a “threat to public health.” Even though any second grader will explain to you that CO2 is necessary for all plant life. to exist.

According to Mr. Nixon, the Federal government “will set standards, the Federal government will exercise leadership” because the states can’t do it themselves.

Looking back at Richard Nixon’s record and the many initiatives he supported during his time in office, you can see how important it is to get a conservative in office and not vote for a guy just because he has an R after his name.

For more on the Progressives @ MCT:

Sunday Night Links: The Vintage WPA Art Project Edition

The WPA Art Project:

In 1935, President Franklin Delano Roosevelt established the Works Progress Administration (the name was changed to Work Projects Administration in September of 1939), as part of his New Deal program to put millions of unemployed Americans back to work. In July of 1935, Federal Project Number One (Federal One) was established within the WPA as a central administration for the arts-related projects. Federal One provided funds specifically for artists, musicians, actors, and writers through the Federal Art Project (FAP), the Federal Music Project, the Federal Theatre Project, and the Federal Writer’s Project. FAP employed more than five thousand artists in various art projects including the many poster divisions that were created throughout the United States.

Many New Deal administrators believed that art could be a part of the daily lives of all Americans, not just the elite, and could enrich the lives of all who came in contact with it. The main objective of FAP was the employment of out-of-work artists, but this was not its only goal. The activities of FAP also included art production, education, and research. The project employed artists in the fields of easel painting, sculpture, photography, mural painting, and graphic arts, and it also held exhibitions and organized community arts centers through which many Americans were first introduced to the arts. Another well-known, well-received FAP project, the Index of American Design, created a survey of illustrations of American decorative and folk arts from colonial times through the late nineteenth century.

The more things change, the more they stay the same.

On to the links…

Bunkerville: Obama tells 7 lies in under 2 minutes.

CoF: Past Reports that the Great Recession Ended in June 2009 were Wrong! It Still Hasn’t Ended!

TheCL: Do You Know That You Are a Creditor?

The Sentry Journal has the best post title of the week: Serfs Up 

Media Matters Lies About America’s Watchtower: I’m Jealous

The Eye: X-Files III in the Planning Stage (The X-Files were appointment viewing for me back in the day)

The Bitter Americans: Are You Doing Enough?

Gator: Shocker! Thomas Friedman hates the Tea Party

MTTM: Editorial Bias and Purposeful Omission

RR: “What if We Controlled All Elected Branches of the Federal Government?” 

ChrisWy is back from vacation : OK kids, it’s time once again to play “Name That Party!”

Wade: Obama Shrugged

I Don’t Care About the Debt Ceiling: The Sky is Falling!

FCBZ: Marco Rubio, you totally ROCK, sir.

WWTFT: The Founding Fathers Solve Our Debt Crisis 

Bot: Get Ready

Pundette: Covering the moon with yogurt 

TWN: Today’s World News Now On Google+ 

TMGGB: Bend Over America…

The Similarities Between Obama And President Herbert Hoover’s Economic Policies

“The only problem with capitalism is the capitalists.”

Herbert Hoover

History tells us why cutting the size of government and reduce the amount of money it spends is so vitality important.

Obama’s failed stimulus plan has drawn significant comparisons to FDR’s New Deal. While there are numerous similarities between Obama’s Stimulus and FDR’s New Deal, Obama’s economic policies have much in common with another disastrous Presidency. Herbert Hoover.

First of all, Hoover was no advocate of laissez-faire. His immediate response to the 1929 crash was to pressure industrial leaders not to cut wages. That drive to maintain wages continued throughout his presidency, even as prices fell. Hoover’s administration cartelized American agriculture in an attempt to rig agricultural prices at artificially high levels, and he signed into law the hugely protectionist Smoot-Hawley Tariff. He expanded public works, intervened in the financial and housing sectors, and restricted immigration. Oh, and he increased spending by 31 percent from 1930 to 1931, running what was then the United States’ biggest ever peacetime deficit, before introducing huge tax increases. Suggesting that Hoover was pursuing a laissez-faire, free market approach is just a flat-out lie.

We know what came next, The Great Depression.