Quotes

"Fascism and communism both promise "social welfare," "social justice," and "fairness" to justify authoritarian means and extensive arbitrary and discretionary governmental powers." - F. A. Hayek"

"Life is a Bungling process and in no way educational." in James M. Cain

Jean Giraudoux who first said, “Only the mediocre are always at their best.”

If you have ten thousand regulations, you destroy all respect for the law. Sir Winston Churchill

"summum ius summa iniuria" ("More laws, more injustice.") Cicero

As Christopher Hitchens once put it, “The essence of tyranny is not iron law; it is capricious law.”

"Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." Ronald Reagan

"Law is where you buy it." Raymond Chandler

"Why did God make so many damn fools and Democrats?" Clarence Day

"If I feel like feeding squirrels to the nuts, this is the place for it." - Cluny Brown

"Oh, pshaw! When yu' can't have what you choose, yu' just choose what you have." Owen Wister "The Virginian"

Oscar Wilde said about the death scene in Little Nell, you would have to have a heart of stone not to laugh.

Thomas More's definition of government as "a conspiracy of rich men procuring their own commodities under the name and title of a commonwealth.” ~ Winston S. Churchill, A History of the English Speaking Peoples

“Laws are like cobwebs, which may catch small flies, but let wasps and hornets break through.” ~ Jonathon Swift

Saturday, October 6, 2012

"Quick Watson, the needle!" - What the "7.8 percent solution" really means

This is just a delusion! m/r

John Lott's Website: Newest Fox News piece: What the 7.8 percent jobless number really means
10-6-12 by John Lott
This is the way my newest piece starts:
The official unemployment rate of 7.8% means we are finally back to the level when Barack Obama became president, at the height of the recession. That may seem like great news.However, a more serious analysis of the job market numbers indicates continued gloom. 
First of all, full-time employment actually fell last month. Total jobs rose only because part-time employment increased so dramatically. 
Even so, the number of jobs, full-time and part-time, is falling short of the ever-increasing working-age population. Last month there was a net gain of 114,000 jobs. But with an expanded working age population of 206,000 and 63% of those working, 131,000 jobs would have had to be added to keep the fraction employed from falling. 
Unfortunately, even this anemic growth in the total number of jobs only came about because several hundred thousand full-time workers were forced to accept part-time work. While total jobs rose by 114,000, people who are classified by the Bureau of Labor Statistics as "part time for economic reasons" soared from about 8 million to 8.6 million, a 581,000 increase. . . .
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