After years of media hype and presidential accolades, Chevrolet has rolled out its new electric car, the Volt, to one of the coolest receptions since Ford began production of the Edsel; in fact, the only way that sales figures for Chevy’s new electric car can appear positive is by comparing them to the even more abysmal sales experienced by the Nissan Leaf.
In a clear case of having more dollars than sense, America Online (AOL) is undertaking its least palatable acquisition to date: Arianna Huffington’s amalgam of left-wing screeds, The Huffington Post. Ironically, what some might view as a website with a less than favorable view of capitalism went for a king’s ransom of $315 million.
As President Barack Obama’s jobless “recovery” is showing more and more signs of being no recovery at all, the Senate has voted another $15 billion to continuing pursuing their addiction to stimulus, and there are prospects that another $100 billion will be following shortly.
As extended unemployment benefits for two million Americans began to run out this week, the economic news from Washington remains bleak. According to the November Employment Situation Summary from the Bureau of Labor Statistics (BLS), the expectations of analysts have once again proven wrong, and the depth of the nation’s economic woes are significantly worse than anticipated.
There are further signs that Barrack Obama’s jobless “recovery” is, in fact, no recovery at all. The latest indication of the fundamental unsoundness of the American economy is found in statistics from the Commerce Department. According to that department, the sale of new homes plummeted in January to the lowest rate recorded in fifty years. As The Washington Post reports:
As the economic crisis in the European Union grows day by day, there is a proportionate degree of speculation around the world about the final extent of the damage that will be done by the looming collapse of the euro. According to Daniel Mitchell, a contributor to Forbes.com, many individuals among the wealthy elite in Europe are already planning to flee their respective countries for safe havens in nations such as Costa Rica or Australia. Meanwhile, the British Foreign Office is making plans to evacuate Britons from the Continent in the event of widespread rioting.
United Nations Secretary General Ban Ki-Moon believes that there is a global environmental crisis that requires looting the Western economies to the tune of trillions of dollars in coming years. But such financial plundering apparently will not be standing in the way of a quite substantial pay increase for United Nations employees.
If it sometimes feels like almost everyone is on the government dole except you, there may be a reason for that sensation: According to a recent study one-third of all income in the United States comes in various forms of “social welfare benefits.”