The Last Word: George Clooney The Frustrated American

How about frustrated Americans

In an interview by NEWSWEEK's Ginanne Brownell Mr. Clooney expressed his thoughts on what it is like being an American in Europe:

“It is probably the worst time ever for us internationally. When you go to Europe, for the most part, they just hate us. Not individually, but they think we are just like these big bullies—and quite honestly, we have acted like that. That has been the most unusual twist in the last few years, having to defend being an American.”

He’s right. Since WWII all of Europe needed help and America answered their need. But after 50 years interjecting ourselves into European politics while maintaining a major military presence there, they now resent the fact that we wouldn’t leave.

Concerning the main street media (MSM) he answers:

“I just worry that we have lost our balls for reporting. We constantly underestimate the intelligence and interest in the audience. The U.S. press took such a pass on the Bush administration that they are as responsible for us marching into Iraq as the administration. There is no question about it. They were afraid to be marked as unpatriotic.”

He fails to mention that the MSM has become the best stage for propagation of progressive liberal programs.

Response To Neil Cavuto On Minimum Wage vs.Legal Status

If an employer is already breaking the law by hiring illegal workers, then he is breaking two or more laws by not paying them a minimum wage. The problem is in the enforcement. We do not need more laws with more political correctness, we need enforcement of our current law. When that happens, the solution to the issue of illegal workers also begins. Until then all our politicos achieve is more free air-time.

Neil expressed his opinion that the latest numbers on the U.S. savings rate are misrepresented and in our economy is meaningless. Every time people start to ignore basic economic tenants, we learn why they are considered rules the hard way.

There are two distinct attitudes towards our economy, one is that everything is fine and the other is that we our on the brink of catastrophe. Either way the negatives are numerous and enormous, there has to be a time when they are reversed or we will experience some very negative consequences. The U.S. savings rate is just one of them. With the age of our populace, savings through retirement vehicles, should be at its peak.

Economy, Reporters And Numbers

In a Bloomberg article Courtney Schlisserman sourced statistics from the Institute for Supply Management's non-manufacturing index, which moved up in December to 59. A 59 reading indicates a very strong services sector that is healthy and growing. She then states that Services make up almost 90% of the GDP.

It’s this statement that drew attention and shows that many who write about the economy and financial matters do not understand how these numbers coincide with each other. If the Services sector is 90% of GDP then all other sectors must only be 10%. The military alone is more than 10%.

Manufacturing hit its peak in 1959 at 47% of GDP and in 2005 had dropped to 33%, last year manufacturing had further declines but is still above 30%. To do the math; military 10% + manufacturing 32% = 58% for everything else that makes up the GDP.

Later in the article Ms. Schlisserman does make some very good points: “Lower energy prices and higher wages are fueling increased consumer spending and generating stronger sales at retailers, adding to economic growth.” The first part, of the quote, nails the economy but the second part “and higher wages” is also inaccurate. Wages have increased at a slightly higher pace than inflation over the last three months, but over the last three years have not kept pace with inflation. In fact this trend has been going on for awhile, and the American workers earnings in real dollars, is at the bottom of the earnings scale today than at any time over the last 40 years. It is not wages but the unemployment rate that is adding to consumer spending.