July 7, 2015

How Convenient: AP’s Rugaber Changes Post-Jobs Report Assessment of Employment Market From ‘Nearing Full Health’ to ‘Mixed’

This post will document wnat transpired at the Associated Press on Thursday before and just after the release of the government’s employment report. It should be a humiliating lesson to its business and economics writers. One would hope that they might learn to concentrate solely on discerning and accurately reporting the relevant facts, and to leave the analysis to others. (I know; fat chance.)

As will be seen after the jump, several hours before that jobs report, the AP’s Christopher Rugaber was all ready to pronounce the job market as “nearing full health,” basing his bizarre assessment largely on “a surge in people looking for work” (reports referenced at this post have been saved at my host for future reference, fair use and discussion purposes; bolds are mine throughout this post):

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The Ohio Legislature Had Better Stop This …

Filed under: Consumer Outrage,Education,Taxes & Government — Tom @ 3:00 pm

… or it will spread like wildfire:

University of Akron’s juniors and seniors will pay 12 percent more despite tuition freeze

The University of Akron is boosting the annual cost of most juniors and seniors by 12 percent despite a state-imposed ban on tuition increases at public universities.

UA officials on Monday described the $50-per-credit-hour charge on 300- and 400-level courses as a new fee rather than a tuition increase, but at least one student accused the school of trying to circumvent the rules.

“From where I sit, my tuition has risen 12 percent,” UA senior Jeff Schackleton told Northeast Ohio Media Group. “This seems a little underhanded.”

The charge is tied to the number of credit hours. It’s a tuition increase on a largely captive audience, especially at this point (maybe seven weeks before classes begin), on all upperclass persons.

I don’t want to hear another word from any U of Akron officials or faculty criticizing anyone else’s business practices or ethics.

Also, there’s this:

The university also increased its facilities fee from $18.55 to $28.50 a credit hour to retire the debt incurred from new buildings, including InfoCision Stadium. The fee, capped at 12 credit hours, is assessed to students attending classes on the main campus in Akron.

The schoool also added a $75 per semester fee for students in its Honors College.

The total cost of attending Akron for juniors and seniors looks like it went up more like 14 percent if you include the facilities fee.

I also don’t want to hear another word from any of these people about individual or corporate greed. Make no mistake; part of the calculus here is that “well, they can just borrow more money, so it won’t hurt ‘em a bit.” Until later.

If the Legislature doesn’t act, it will show that there’s no control mechanism present to prevent such greed at Ohio public-sector universities. Others will follow Akron’s “lead.”

Government’s May Trade Deficit Report Confirms Economic Malaise

Filed under: Economy,Taxes & Government — Tom @ 12:14 pm

The thing that sticks out in today’s report on U.S. International Trade is that both exports and imports are down year-over-significantly.

As seen in Exhibit 12 at the report (not seasonally adjusted data), exports are down by about 5 percent, while imports are down by about 4 percent. The year-to-date trade imbalance through May is less than 1 percent below the first five months of last year.

The fact that both imports and exports are lower is, unfortunately, not a reflection of producing and consuming more goods and services at home. It’s a reflection, as seen in so many places I’ve identified in the past several months, that we are producing and consuming less across the board.

Tuesday Off-Topic (Moderated) Open Thread (070715)

Filed under: Lucid Links — Tom @ 6:05 am

This open thread is meant for commenters to post on items either briefly noted below (if any) or otherwise not covered at this blog. Rules are here.

Positivity: Red Skelton’s ‘Pledge of Allegiance’

Filed under: Positivity,Taxes & Government — Tom @ 6:00 am

Classic:

Transcript (idea HT to Warner Todd Huston):

“I’ve been listening to you boys and girls recite the Pledge of Allegiance all semester,” said Mr. Laswell, “and it seems as though it is becoming monotonous to you. May I recite it and try to explain to you the meaning of each word?”

“I” — me, an individual, a committee of one.

“Pledge” — dedicate all of my worldly goods to give without self-pity.

“Allegiance” — my love and my devotion.

“To the flag” — our standard, Old Glory, a symbol of freedom. Wherever she waves, there’s respect because your loyalty has given her a dignity that shouts freedom is everybody’s job!
“Of the United” — that means that we have all come together.

“States of America” — individual communities that have united into 48 great states. Forty-eight individual communities with pride and dignity and purpose; all divided with imaginary boundaries, yet united to a common purpose, and that’s love for country.

“And to the republic” — a state in which sovereign power is invested in representatives chosen by the people to govern. And government is the people and it’s from the people to the leaders, not from the leaders to the people.

“For which it stands, one nation” — one nation, meaning “so blessed by
God.”

“Indivisible” — incapable of being divided.

“With liberty” — which is freedom — the right of power to live one’s own
life without threats, fear or some sort of retaliation.

“And justice” — the principle or quality of dealing fairly with others.

“For all” — which means, boys and girls, it’s as much your country as it is mine.

Since I was a small boy, two states have been added to our country and two words have been added to the Pledge of Allegiance… “UNDER GOD”

Wouldn’t it be a pity if someone said that is a prayer and that would be eliminated from schools too? God Bless America!

NewsBusted (070715)

Filed under: NewsBusted — Tom @ 12:52 am

Here we go:

Topics:
– Independence Day
– President Obama
– Dukes of Hazzard
– Fidel Castro
– Bernie Sanders
– Malia Obama Birthday
– Greek Financial Crisis
– Rapper DMX

Best Lines:

  • “Vermont Senator Bernie Sanders is surging in the polls. Wouldn’t it be amazing if this country elected two socialist presidents in a row?”
  • “A belated happy birthday to Malia Obama, who turned 17 last weekend. Sadly, Malia boycotted her own party when she learned that her mother had planned the menu.”