Showing posts with label Gina Raimondo. Show all posts
Showing posts with label Gina Raimondo. Show all posts

Thursday, August 22, 2024

This conservative outrage machine story yesterday and today about Commerce Secretary Raimondo has got to be the dumbest one I've heard in a long time

 She was asked an ignorant question.

Why would the Commerce Secretary have something timely to say about employment revisions released by the Bureau of Labor Statistics at the Labor Department?

It's not her area. I wouldn't expect her to know anything about it, and if I had a brain I wouldn't bother asking her.

Commerce and Labor are two separate cabinet level departments and have been since 1913.

I don't expect the Commerce Secretary to have the latest labor information anymore than I expect the Labor Secretary to be able to respond to the latest GDP report produced by the BEA at the Commerce Dept.

But all the ignorami on the right, but I repeat myself, are up in arms over this. It's embarrassing.

What's really going on here is outrage over the size of the revision, which is the largest since 2009.

Republicans want to say Biden and Harris have been lying about the jobs numbers for a year to make themselves look better.

That's a crock. The initial benchmark revisions occur every year around this time, and their size should be no surprise since the Employment Situation Summary every month contains revisions upon revisions upon revisions of prior months. This happens all the time, and if you know you know that this year the numbers have been particularly susceptible of large revisions, criticism, and expressed suspicions from the FOMC members on down.

But total nonfarm payrolls have always been this way. They are quick and dirty on any day. I gave up following them in favor of other measures precisely because it involves securing jello on a galley plate in high seas, and I have better things to do.

Full time employment, measured with other data, around 50% of population under Joe Biden hasn't been great, and it hasn't been awful either. In my arrogant opinion, following total nonfarm and its endless stream of revisions is a fool's errand.

Even more foolish to get upset about it when plenty of other indicators show that employment up until this summer has been "secularly tight", as one economist likes to put it. Continued claims for unemployment have been steady as she goes since late 2021.

The slight recent elevation in these claims numbers is consistent with a softening of employment, which I have noted elsewhere in regard to full time jobs.

The bloom is off the rose it seems, but the preliminary total nonfarm benchmark revision down 819,000 is a problem with that model, not a sign of a sudden problem with employment. 




 





Friday, November 17, 2023

Titans of American business pay to have dinner with genocidal dictator Xi Jinping

Elon Musk was there, too, but this story never mentions it:

Xi’s 10 years as president are marked by a genocide against China’s Muslim minority, attempts to wipe out Tibetan culture, and persecution of Christians and followers of Falun Gong – not to mention a crackdown on democracy, religious freedom, and civil rights in Hong Kong. 

Yet, during official and unofficial meetings this week, there was no mention of the long list of atrocities. Instead, Xi received an unusually warm reception. 

On Wednesday night in the confines of San Francisco’s Hyatt Regency ballroom, America’s corporate chieftains gathered to fete Xi as a “guest of honor” at a banquet drawing nearly 400 attendees. The gala took place on the sidelines of the Asian Pacific Economic Cooperation summit, a gathering of 21 member countries to support free trade and business ties. 

The executives were so excited to share the room with the Chinese president that they gave him two standing ovations before Xi uttered a word. American titans of business, including Apple’s Tim Cook and Blackstone’s Steve Schwarzman, Black Rock’s Larry Fink, Boeing’s Stanley Deal, and Pfizer’s Albert Bourla, joined Commerce Secretary Gina Raimondo to rub shoulders with Xi and a cohort of Chinese officials. 

Tickets for the banquet started at $2,000 each, with several companies shelling out $40,000 to buy eight seats at a table in the ballroom and one at Xi’s table. After Xi’s remarks, attendees provided yet another standing ovation, according to Reuters

Some executives made no attempt to hide their gushing. On the way into the Hyatt, Bridgewater Associates hedge fund founder Ray Dalio told the Financial Times that he was “excited to have this relationship [with Xi].”

If Dalio entered the hotel from the main lobby, he couldn’t have avoided the polar opposite scene and messaging. A Tibetan student activist named Tsela had strapped herself to a flagpole and was waving the Tibetan flag when Xi and his entourage arrived. Other activists from Students for a Free Tibet chanted “Murderer” at the Chinese leader, “Down with the CCP,” and “Human Rights in Tibet.”

Wednesday, April 13, 2022

Vaccine failure: Gridiron Club dinner on April 2 was a superspreader event among the triple-jabbed elites of Washington

New York City Mayor Eric Adams tested positive for the virus on Sunday after waking up with a raspy voice. Adams attended the Gridiron Dinner in Washington, an annual event that brings together prominent government officials and journalists. At least 80 people who attended the dinner, the first since 2019, have tested positive for Covid including several senior government officials, according to Gridiron Club President Tom DeFrank.

Attorney General Merrick Garland, Commerce Secretary Gina Raimondo, Reps. Joaquin Castro and Adam Schiff, and Sen. Susan Collins all tested positive after attending the dinner.

House Speaker Nancy Pelosi, D- Calif., also tested positive for Covid last week but wasn’t experiencing any symptoms and didn’t attend the Gridiron Dinner. Pelosi’s positive result came a day after she stood next to President Joe Biden at a bill-signing ceremony. Biden, who also did not attend the Gridiron Dinner, subsequently tested negative for Covid. 

More.

In calendar year 2021 in the US 99.85% didn't die of COVID, with mass vaccination, and in calendar year 2020 in the US 99.89% didn't die, with no mass vaccination.