Great Oaks/Little ACORNS
ACORN may be dying … or at least on the verge of atrophy … due to Congress’ withdrawal of federal funds. A vote in the House to withdraw funds passed by 345 to 75. ACORN responded by releasing a statement that they were considering whether to reduce focus on election activities. Hmmm … My take on the org is that we could do without them. Perhaps we’re hearing their death knell? Their oak tree potential is gone. (Proverb: Great oaks from little acorns grow.)
More info that the economy is recovering: Net Worth rose almost 22 percent in the second quarter 2009. Driven largely by stock prices recovering and home values rising, it is welcome news to us all. Construction of new homes and apartments rose 1.5%.
Plus, new unemployment claims are remaining at a lower than expected rate of near 550,000 indicating a slow-down in lay-offs. With nearly 15mn workers out of work, any recovery indicators are welcome. It is just a matter of surviving until manufacturing begins to increase to catch up to demand. Manufacturing drives the downstream small manufacturing and services businesses; all provide jobs. Jobs provide buckeroos for spending. Spending creates demand. A wonderful cycle. Hey, wait a minute! Could this be supply side economics? Could Prez Reagan have been right all along? I’m thinkin’ so.
The plan to place strategic missile sites in the Czech Republic and Poland as a defense to Iranian missile capability has been scrapped in favor of a ship-based missile plan. Russia is happy about this while denying a “deal” was made during Prez O’s recent visit. “There’s no substitute for Iran complying with its international obligations regarding its nuclear program, and we, along with our allies and partners, will continue to pursue strong diplomacy to ensure that Iran lives up to these international obligations,” the president said in brief remarks from the Diplomatic Room of the White House. “But this new ballistic missile defense program will best address the threat posed by Iran’s” missile program. For more, go here: http://www.washingtonpost.com/wp-dyn/content/article/2009/09/17/AR2009091700639.html?wprss=rss_politics
On this day in history: 1793 – The US Capitol Building cornerstone is laid; 1955 – Ford produces 2,000,000th V-8
On a positive note: High school football coach David Jason Stinson has been acquitted in the death of one of his players. The “not guilty” verdict was delivered in just 90 minutes. Apparently, a “no-brainer.”
Blessings.