The cancellation of 20,000 more tickets to events at Cypress Mountain, on top of myriad other woes, is putting Vancouver Olympics organizers increasingly on the defensive as they attempt to salvage the world's impressions of the Games taking place here.
In an hourlong Tuesday briefing touching on everything from transportation snafus to equipment failures to weather woes to the prison-camp look of the Olympic caldron display, some reporters demanded to know if this might be the worst start ever to an Olympic Games.
Showing posts with label bank failures. Show all posts
Showing posts with label bank failures. Show all posts
Wednesday, February 17, 2010
Sunday, November 8, 2009
Stimulus has failed, but liberal certitude lives on
A familiar definition of insanity is to keep doing the same thing and expecting different results. So in the wake of yesterday's report that the national jobless rate climbed to 10.2% in October, we suppose we can expect the political class to demand another "stimulus." Maybe if Congress spends another $787 billion in the name of job creation, it can get the jobless rate up to 12% or 13%.
It's hard to imagine a more complete repudiation of Keynesian stimulus than the evidence of the last year's job market. We've now had two examples of such stimulus—President Bush's $160 billion effort in February 2008 and President Obama's mega-version a year later—and neither has made even the smallest dent in employment. As the nearby chart shows, Mr. Obama's economic advisers sold the stimulus by saying it would keep the jobless rate below 8%. Actual results may differ, as they say.
The economy shed another 190,000 jobs in October, taking the total job losses to 3.5 million since January. The larger measure of joblessness that includes marginal and part-time workers jumped 0.5% to 17.5%. And the average hours worked in a week stayed the same at 33.0, which means that millions of Americans working part-time will have to become full-time before employers start hiring new workers.
It's hard to imagine a more complete repudiation of Keynesian stimulus than the evidence of the last year's job market. We've now had two examples of such stimulus—President Bush's $160 billion effort in February 2008 and President Obama's mega-version a year later—and neither has made even the smallest dent in employment. As the nearby chart shows, Mr. Obama's economic advisers sold the stimulus by saying it would keep the jobless rate below 8%. Actual results may differ, as they say.
The economy shed another 190,000 jobs in October, taking the total job losses to 3.5 million since January. The larger measure of joblessness that includes marginal and part-time workers jumped 0.5% to 17.5%. And the average hours worked in a week stayed the same at 33.0, which means that millions of Americans working part-time will have to become full-time before employers start hiring new workers.
Saturday, February 21, 2009
Bank failure, mortgage foreclosure maps online
Maps that show state by state stats on bank failures and mortgage foreclosures. Instapuncit notes that the maps with the worst calamities are pretty much the states that Barack Obama carried on Nov. 4.
http://money.cnn.com/news/storysupplement/economy/bank_failures/index.htm
http://money.cnn.com/news/storysupplement/economy/bank_failures/index.htm
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