Today on Jon Taplin's blog, a sobering reality check on US Treasury Secretary Hank Paulson's irrational exuberance at the G-7:
Treasury Secretary Paulson, meeting with the G-7 Finance Ministers in Washington, tried to reassure them that the U.S. economic slump was only temporary.
He said he told his counterparts that checks from the stimulus package would go out in May and June and that they would add 500,000 to 600,000 jobs to the economy. He said that the federal government was helping more than a million homeowners keep their homes.
I worry that Paulson is engaging in reckless speculation about the future of the American job market. That somehow a flood of $600 checks next month from the government is going to lead to the creation of 600,000 new jobs is pure fantasy. That money is going to be used to pay down maxed out credit cards or keep cars from being repossessed. As Floyd Norris points out, the real jobless number (chart above) number for working men in America is not 4% but 13%. When someone gives up looking for work, the government no longer considers them unemployed–thus the huge discrepancy in the two figures.
The Cobham catalog, exposed by The Intercept, features countless pages of surveillance gadgets sold to U.S. police to spy on American citizens: tiny black boxes with a big interest in you. In the creepily bland feature lists and nerdy product names is a whisper of a dark future; perhaps darker than anyone can imagine.
This image depicts the most commonly-found stylesheet colors on the web’s top sites—Paul Hebert did an amazing amount of analysis and this is just one of the intriguing visualizations he came up with. Most of these are obvious staples, especially HTML red and blue, though it’s interesting how far the blue “cluster” is from the […]
With the cacophony of an election year ablaze with unparalleled drama being fought on the front lines of Twitter, we find ourselves slowing down and staring at it like a bad accident. The need for escapist relief is perhaps more dire than usual right now. This fall, if it’s drama you crave, but the Hillary […]
Vaping is getting more mainstream by the day, which means there’s been an influx of quality yet affordable vaporizers on the market. We’re particularly excited about the APX Wax Vaporizer Kit, which is an easy-to-use, high-quality vape that works with both dry herbs and waxy concentrates.If you’re a beginner trying to get into vaping, the APX […]
When you’ve had a long day and it’s time to unwind, there’s a lot you can do to relax: drink some tea, take a shower or even read a book. But there’s one thing that’s essential to a comfortable night’s rest—and that’s investing in some really good sheets. Enter Bamboo Bed Sheets. These quality sheets retail for $120, but […]
The Avantree Powerhouse 4 Port Fast USB Charging Station brings high quality, high power, and still keeps your work space or home looking neat and organized. The best part about this charger is its capacity. It comes packing 4 USB charging sockets and a powerful 4.5A/22.5W output.. Its smartport technology means you don’t have to worry about frying your battery, either—it […]