Video Podcast – Korean War Remains Returned – GDP Growth

by: Brent Smith at the Common Constitutionalist

The remains of multiple of U.S. troops killed in the Korean War more than six decades ago are headed back to America now after North Korean officials turned them over to military officials, the White House announced Thursday night. In all, 55 cases of remains were return so far.

And you probably noticed the United Nations banner wrapped around the crates rather than the American flag. There’s a reason for that. It ain’t a good one, but it’s America’s fault. More precisely, it’s an American President’s fault.

And let’s talk GDP growth, and why it may end up being a problem. Why? Three words: The Federal Reserve. read more

Housing May be Soon out of Reach for Many

from IBD:

Housing Crisis May Be Inevitable, Thanks To Government Meddling

With home prices soaring in most markets, this is the best time to be a homeowner since 2005. But there’s a downside: Thanks to continued government meddling, the housing market has rarely been more fragile. Is another housing crunch brewing?

We’ve talked before about the strength of the U.S. economy, particularly after tax cuts kicked in. And that’s still true. Unfortunately, 10 years after the 2008 financial crisis, there’s one exception: The housing market, which, despite superficial signs of health, remains dysfunctional. read more

A Delusional Fed Governor

By: the Common Constitutionalist

John Williams was on Fox News Sunday Morning Futures with Maria Bartiromo. Williams is the chief of the San Francisco Federal Reserve.

Maria asked him about job growth in the United States. She asked: “Where are the jobs in this country?” Williams started, right out of the gate, as if towing the Obama/democrat party line by saying: “Last year was an amazing year for job growth,” proudly proclaiming that there were 3 million jobs Williamscreated.

I don’t know whether he actually believes this to be an “amazing” accomplishment, but his tone sure gave every indication.

Breaking that yearly 3 million number down – that’s an average of 250,000 jobs created per month. He then claimed that not all were low paying jobs either. These were also good paying jobs.

I have no doubt that some were high paying jobs, but we all know that percentage is minuscule. Sadly there was no question or push back of that claim by Bartiromo.

What he also neglected to mention is that number, 250,000 falls far short of what’s needed just to maintain, much less grow. That number is about 350,000 per month – 400,000 or more to catch up to pre-recession levels. Remember the recession? Possibly not, being that we are supposedly 6 years removed.

Aren’t these Fed Governors are supposed to be the smartest guys (and gals) in the room? read more

We Know the Economy Stinks – So Stop Your Yellen

By: the Common Constitutionalist

It’s all about the economy, stupid! Isn’t that what democrat strategist James Carville reminded us all in 1992?

Actually, he said it as part of a 3-pronged point – “The economy, stupid” – “Change vs. more of the same” and “Don’t forget health care.”

But of course, what stuck – what everyone remembers is “It’s the economy stupid.”

Frankly, the Republicans could steal Carville’s 3-pronged slogan word for word. We are 23 years removed from Carville’s famous phrase and it’s more applicable today than it was then.

But I thought the economy has been improving. Barely a month and half ago, the Politico told us, so it must be true. They wrote that “The United States economy is increasingly the envy of a struggling world…The economy created another 252,000 jobs in December, a record 58th straight month of private sector gains. The [U3] jobless rate dropped to 5.6 percent, nearly back to normal after peaking at 10 percent in October of 2009. And the economy turned in a robust 5 percent growth rate in the third quarter of last year.” So I guess that makes us the best of the worst?

Evidently Democrats agree with this assessment as the Politico reports that Republican claims of a weak economy are just “sour grapes from partisans whose warnings of a disastrous ‘Obama economy’ look increasingly ridiculous.” read more