Percentages of recent past president's cabinets who had worked in the private enterprise sector prior to their appointment to the cabinet.
T. Roosevelt........ 38%
Taft...................... 40%
Wilson ................. 52%
Harding................ 49%
Coolidge.............. 48%
Hoover................ 42%
F. Roosevelt....... 50%
Truman............... 50%
Eisenhower......... 57%
Kennedy............. 30%
Johnson.............. 47%
Nixon.................. 53%
Ford.................... 42%
Carter................. 32%
Reagan............... 56%
G.H. Bush........... 51%
Clinton ............... 39%
G.W. Bush.......... 55%
Obama................ 8% !!!
Obama has chosen only eight percent of his cabinet with any free enterprise experience and Obama himself admits his experience is in community activism, as is the experience of most leftist radicals. A sign of a great president is one who surrounds himself with the best available experienced people. The common trait of socialists is that aside from their ignorance, they still think they know best how to run everyone's lives. Their ignorance and conceit is why they want to gang up and run everyone's lives and force their way with laws and penalties. They are virtual dictatorships at best and murderous gangs at worst.
Under socialist the majority wants a free lunch so they gang up and vote to tax the productive minority. The socialist gang government first tries to suppress dissents by excluding any dissident criticism reporting in the news. Then the dissidents are quietly excluded from jobs and end up as burdens on their families.
But it gradually gets much worse. This week in Iran a dissident nuclear physicist was killed with a bomb at his office. Death is the "final solution" for all whom oppose the gangs of national socialism. Socialism is nothing but gang sanctioned theft of wealth and intellectual property under the guise of democracy. It is rule by the gangs.
World Outlook
Today after Google announced yesterday that it would quit China unless the nation's censors eased their grip, the Chinese government offered an indirect but unambiguous response, "Companies that do business in China must follow the laws."
What law in China gives it the right to hack into private corporate computers of other nations to pirate technology and develop the technology to shut down power grids and the air space of the free world? Those things are possible when a totalitarian socialist gang thinks it has the right not just to steal from their own people but to steal the wealth and intellectual property of free peoples in other countries. That is what China's hacking is all about and why we imprison our own hackers before they have the power to bring corporations and banks to their knees. Hackers can do as much damage to an enterprise as a bomb. In China the government has institutionalized hacking to steal from and to repress enemies. Anyone who opposes socialist gang stealing and repression is an enemy of the state and a potential target even if it is you living in America. American power grids and air space control are presently capable of penetration. Once an enemy has our software it is possible for an enemy to figure out how to change it so that commercial aircraft fly into one another and power grids short out and self-destruct when instructed to do so. And the enemy does not have to reveal that they have this information until they make a surprise attack. Whenever we detect a hack attack it is potentially an enemy probing our defenses for an entry point. When we cannot detect such hacking it is already too late.
Market Week News:
So far this week: A survey by Bloomberg shows investors are the most bearish on Treasuries in more than two years as the reliance on government debt and taxes to revive economic growth weighs on sovereign issues.
Confidence among small businesses declined in December to the lowest level in five months as the outlook for sales remained dim, according to the National Federation of Independent Business optimism index. It declined to 88 in December from 88.3 in November.
The trade deficit in the U.S. widened in November more than anticipated as the gap expanded 9.7 percent to $36.4 billion, the highest level since January 2009, from a revised $33.2 billion in October, Commerce Department data showed today in Washington. Imports increased 2.6 percent, reflecting a jump in oil prices, while exports rose to the highest level in a year.
Yesterday:
FED's Beige book outlook. The Federal Reserve's latest economic snapshot suggests conditions are better, but still soft. Commercial vacancy rates were increasing and rents declining in most districts. Several districts reported “landlords were focused on tenant retention and that slack demand was allowing tenants to negotiate lease extensions at low rents and with favorable allowances.”
Thursday, Jan. 14:
Continuing claims
Unemployment initial claims
December Retail Sales
Friday, Jan. 15:
Consumer Price Index
NY Manufacturing Index
Industrial Production
Consumer Sentiment
Market forces January 14, 2010
President Obama plans to call today for taxing about 50 banks and major financial institutions for at least the next decade to recoup all taxpayer losses from the bailout of Wall Street. The tax on banks, insurance companies and brokerages with more than $50 billion in assets would start after June 30 and seek to collect $90 billion over 10 years, according to a senior administration. But the levy but would remain in force longer if all losses to the bailout fund, the Troubled Asset Relief Program, are not recovered after a decade. Administration officials estimate that the losses from the $700 billion loan program created in October 2008 are likely to be about $117 billion.
Asian markets were up over night; Shanghai up 1.4%, Hong Kong down -0.2%, India up 0.4%, and Japan up 1.6%.
European markets are flat with the average in a range from -0.1% to +0.1% this morning about half way through their day.
US pre-market futures are slightly lower at about -0.2% today at 9:00 AM EST.
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