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Archive for August 3rd, 2009

First Lady Requires More Than 20 Attendants

Posted by WARREN MOSLER on 3rd August 2009


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Yes, seems to be seriously excessive!

First Lady Requires More Than 20 Attendants

By Dr. Paul L. Williams

1. $172,2000 – Sher, Susan (Chief Of Staff)

2. $140,000 – Frye, Jocelyn C. (Deputy Assistant to the President and Director of Policy And Projects For The First Lady)

3. $113,000 – Rogers, Desiree G. (Special Assistant to the President and White House Social Secretary)

4. $102,000 – Johnston, Camille Y. (Special Assistant to the President and Director of Communications for the First Lady)

5. Winter, Melissa E. (Special Assistant to the President and Deputy Chief Of Staff to the First Lady)

6. $90,000 – Medina, David S. (Deputy Chief Of Staff to the First Lady)

7. $84,000 – Lelyveld, Catherine M. (Director and Press Secretary to the First Lady)

8. $75,000 – Starkey, Frances M. (Director of Scheduling and Advance for the First Lady)

9. $70,000 – Sanders, Trooper (Deputy Director of Policy and Projects for the First Lady)

10. $65,000 – Burnough, Erinn J. (Deputy Director and Deputy Social Secretary)

11. Reinstein, Joseph B. (Deputy Director and Deputy Social Secretary)

12. $62,000 – Goodman, Jennifer R. (Deputy Director of Scheduling and Events Coordinator For The First Lady)

13. $60,000 – Fitts, Alan O. (Deputy Director of Advance and Trip Director for the First Lady)

14. Lewis, Dana M. (Special Assistant and Personal Aide to the First Lady)

15. $52,500 – Mustaphi, Semonti M. (Associate Director and Deputy Press Secretary To The First Lady)

16. $50,000 – Jarvis, Kristen E. (Special Assistant for Scheduling and Traveling Aide To The First Lady)

17. $45,000 – Lechtenberg, Tyler A. (Associate Director of Correspondence For The First Lady)

18. Tubman, Samantha (Deputy Associate Director, Social Office)

19. $40,000 – Boswell, Joseph J. (Executive Assistant to the Chief Of Staff to the First Lady)

20. $36,000 – Armbru ster, Sally M. (Staff Assistant to the S ocial Secretary)

21. Bookey, Natalie (Staff Assistant)

22. Jackson, Deilia A. (Deputy Associate Director of Correspondence for the First Lady)

Copyright 2009 Canada Free Press.Com

There has never been anyone in the White House at any time that has created such an army of staffers whose sole duties are the facilitation of the First Lady’s social life. One wonders why she needs so much help, at taxpayer expense, when even Hillary, only had three; Jackie Kennedy one; Laura Bush one; and prior to Mamie Eisenhower social help came from the President’s own pocket.

By the way… his does not include makeup artist Ingrid Grimes-Miles, 49, and “First Hairstylist” Johnny Wright, 31, both of whom traveled aboard Air Force One on her recent trip to Europe!


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Posted in Government Spending | 10 Comments »

ISM

Posted by WARREN MOSLER on 3rd August 2009


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Agreed.

We could see positive growth for while without much improvement in final demand, supported longer term by government, exports, and investment.

Equity markets strong, better than expected earnings, with real estate to follow with a lag, and high unemployment keeping real wages/business costs down.

Real wealth continues to flow from the bottom to the top.

Risks include rising marginal tax rates next year and other possible demand drains from one time fiscal adjustments running their course. But that’s too far ahead for markets to discount.


Karim writes:

Details strong; anecdotes weak. Suggests an inventory restocking, but little to no improvement in final demand.

Consistent with Fed baseline of H2 restocking to lead to positive Q3 and Q4 growth but concern over next catalyst going into 2010.

Strength in orders vs inventories could well see headline rise above 50 next month.



July June
Index 48.9 44.8
Prices paid 55.0 50.0
Production 57.9 52.5
New Orders 55.3 49.2
Inventories 33.5 30.8
Employment 45.6 40.7
Export Orders 50.5 49.5
Imports 50.0 46.0

* “[There is concern about] overall health of strategic suppliers — continue to see new suppliers filing Chapter 7 or 11, posing significant risk to supply chain.” (Machinery)

* “We believe our inventories are now at the bottom of this cycle, driving stronger demand for raw materials.” (Paper Products)

* “While our aftermarket business has improved slightly, we are still awaiting an increase in OEM demand.” (Transportation Equipment)

* “No stimulus for manufacturing.” (Fabricated Metal Products)

* “Looking at another round of shutdowns to align supply with projected demands.” (Nonmetallic Mineral Products)


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Posted in GDP, Karim | No Comments »

Taking a side on commercial real estate

Posted by WARREN MOSLER on 3rd August 2009


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Today’s news- rising oil/declining dollar means costs of materials and replacement costs rising.

The only inflation risk comes with rising oil costs which are back up over 71 dollars this am, up from low 60′s last week.

Rising consumption overseas in general seems to be driving up prices here as we compete with a billion new consumers for scarce resources.

Commercial Real Estate – Make Up Your Own Mind

By Malay Bansal


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Posted in Comodities, Inflation, Oil | No Comments »

China GDP

Posted by WARREN MOSLER on 3rd August 2009


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Adding 14% to GDP is a very serious fiscal adjustment that clearly is working.

And it is operationally sustainable if they so desire.

Not to mention the credit expansion and foreign direct investment.

Yes, there can always be setbacks, but nothing that a fiscal adjustment can’t handle.

China: Bogus Boom?

By John H. Makin

It is important to understand how China’s remarkable reported economic performance is possible in the midst of a global recession. True, China enacted a massive stimulus package last November worth about 14 percent of GDP and aimed at boosting domestic demand as exports fell sharply.


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Posted in China, GDP | No Comments »