Now in the news:
- 30 reported dead in Pakistan missile strike
- Texans report fire ball, sonic booms: Is it debris from the satellite collision
- North Korea going ahead with a missile test: Clinton warns on first trip to Asia as Secretary of State
- Israeli jets have bombed tunnels on Gaza’s border with Egypt, after two rockets were fired at southern Israel
- Islamic law to be imposed in parts of NW Pakistan
- GM, UAW talks break off; Chrysler talks stall
Worth a read
- Obama’s Rhetoric Is the Real ‘Catastrophe’ In 1932, automobile production shriveled by 90%.
It is bad history because our current economic woes don’t come close to those of the 1930s. At worst, a comparison to the 1981-82 recession might be appropriate. Consider the job losses that Mr. Obama always cites. In the last year, the U.S. economy shed 3.4 million jobs. That’s a grim statistic for sure, but represents just 2.2% of the labor force. From November 1981 to October 1982, 2.4 million jobs were lost — fewer in number than today, but the labor force was smaller. So 1981-82 job losses totaled 2.2% of the labor force, the same as now.
Job losses in the Great Depression were of an entirely different magnitude. In 1930, the economy shed 4.8% of the labor force. In 1931, 6.5%. And then in 1932, another 7.1%. Jobs were being lost at double or triple the rate of 2008-09 or 1981-82.
- Former astronaut speaks out on global warming
Former astronaut Harrison Schmitt, who walked on the moon and once served New Mexico in the U.S. Senate, doesn’t believe that humans are causing global warming.
“I don’t think the human effect is significant compared to the natural effect,” said Schmitt, who is among 70 skeptics scheduled to speak next month at the International Conference on Climate Change in New York.
Schmitt contends that scientists “are being intimidated” if they disagree with the idea that burning fossil fuels has increased carbon dioxide levels, temperatures and sea levels.
- The Obama rescue: This week marked a huge wasted opportunity in the economic crisis
- Recalled to half-life: A surprising revival in previously reviled nuclear power
- Lack of standards delaying move to digital medical records
- Stalled Switch to Digital TV A Classic Tale of Breakdown
