Wednesday, July 24, 2013

Presidential News Conference - American Jobs Act

Originally Published October 07, 2011; Last Updated July 24, 2013; Last Republished July 24, 2012:

President Obama holds a near perfect news conference urging Congress to enact the American Jobs Act (factsheet), right away.

Congress must not only enact the President's American Jobs Act, right away, it must nearly triple the amount of the President's projected expenditure to $1.2 trillion dollars. This will ensure adequate public infrastructure investment pending the restructure of private investment for sustainable growth.


UPDATED 07/24/2013 WH, Remarks by the President on the Economy -- Knox College, Galesburg, IL

Mr. President, your detractors (some might say foes) dislike everything you stand for, if not you personally. If you said you don't want to create our next generation American manufacturing jobs they'd want to create those jobs!

The good news is that by investing so much energy in animosity, if not personal hatred your foes are unlikely to successfully impede your focused and determined efforts to rebuild Middle America.

Rebuilding and sustaining a leading nation in the absence of a significant proportion of next generation manufacturing jobs is likely to be as successful as the recently failed and catastrophic efforts to build and sustain our nation on perpetually floating and fanciful financial schemes.

UPDATED 11/03/2012 WH, Springfield High SchoolSpringfield, Ohio

Mr. President, thank you for satisfactorily completing the "Stabilization Phase" of "Project Rebuild Middle America" and starting Phase II, "Infrastructure", with your intense focus on New York, New Jersey et al's infrastructure.

Our nation is fortunate that you still have a lot of fight left—you're going to need it!

UPDATED 09/29/2012 WH, Remarks by the President at Kent State University

We have decades of data that refutes the oft parroted assertion that free markets alone produce optimal societal outcomes—in fact free markets, in many cases produce harmful societal outcomes that require both government and regulation to obviate, mitigate or remedy.

Must we permit steroid saturated baseball players that destroy baseball players in the name of free markets?; must we permit football coaches to pay hit-bounties that destroy football players in the name of free markets?; must we permit stock market participants that deploy quants, algos and microwave towers that shave milli-seconds off a transaction time to roil and wreck a stock market in the name of free markets? Must we permit economic welfare trades and transactions that perpetually accrue at proportions of 99:14 in the name of free markets?

Well that depends on what type of society the citizenry want to build and live in—one that thrives and survives or decays and disappears4? Clearly, President Obama has the demonstrated character, compassion, capacity and determination required to restore the necessary balance that will ensure our nation survives and thrives.

UPDATED 08/29/2012 WH, Remarks by the President at Campaign Event -- Fort Collins, Colorado

Our nation is fortunate to have a current president capable of distinguishing and differentiating between the roles required of our government and businesses.

A speaker may conflate and commingle the roles of government and business for cheap applause but doing so demonstrates ignorance and may partially explain an eagerness to eliminate our government.

It can be informative (and not a little amusing) to ask those continually calling for our government's elimination for their optimal government configuration given our increasingly complex civil-society.

At least for the foreseeable future a leverage buy-out (LBO)specialist (Romey's old job @Bain) will play a role in reconfiguring some of our businesses but no role in reconfiguring our government, notwithstanding Romney-Ryan's failure to distinguish and differentiate the roles.

UPDATED 07/20/2012 WH, Remarks by the President at Campaign Event -- Cedar Rapids, IA Kirkwood Community College Cedar Rapids, Iowa

It seems common sense that it's not beneficial to America for our capitalists to behave like cowboy-cannibal-capitalists lest they inflict harm2 on markets and our citizenry—ultimately creating carcass capitalism and vulture capitalists (more eloquently expressed in Adam Gopnik's New Yorker article Barack, Mitt, and Adam Smith)

UPDATED 06/16/2012 WH, Remarks by the President on the Economy -- Cleveland, OH Cuyahoga Community College Cleveland, Ohio

President Obama confronts challengers, critics, commercials and cliches head-on—all proposing and promising a "do over" of the decade that so recently decimated Middle America.

You don't need a compare, contrast and choice matrix to know such a "do over" isn't even wrong! Admittedly, usage of fairytales and myths can make it difficult to distinguish between "not even wrong" and the informative terms of incorrect or correct.

UPDATED 05/08/2012 WH, Remarks by the President, Albany, NY College of Nanoscale Science and Engineering State University of New York Albany, New York

President Obama uses a 1970s American invention (Post-it Note) to remind the Congress that much remains to be done to rebuild Middle America, which has been decimated in recent decades.

Although our President's "To-Do List" assigned Congress five new and two old items his appearance at a nanotechnology center implicitly reminds us how much innovation has changed. It has become a multidisciplinary, cross-culture collaborative, public-private partnership endeavor.

Gone are the golden, go-it-alone, private monopoly days of WW II driven innovation that many of our President's critics assume they can resurrect if not recreate. They're stuck at the war part without innovation—our nation needs the innovation part without the war.

Those interested in understanding where innovations come from may find Where Do Innovations Come From? Transformations in the U.S. National Innovation System, 1970-2006 (pdf) interesting.

UPDATED 04/18/2012 WH, Remarks by the President at Lorain County Community College, Elyria, OH Lorain County Community College, Elyria, Ohio

President Obama continues untangling the myths and muddled logic associated with decades of neoliberalism's economic experimentation. Perhaps the biggest myth is that our nation's experiment with neoliberalism has produced greater economic growth.

Another myth, which the President addresses directly is that neoliberalism's economic growth trickles down to our poor—in fact neoliberalism treats our poor as necessary collateral damage in pursuit of an imaginary or idealized "Free Market". Simply associating something with free or freedom does not automatically make it good without objective empirical data.

Those justifying neoliberalism's economic experimentation often assert the myth that state action is antithetical or inimical to market efficiency—this myth is dispatched by simply observing that neither national nor international markets would long exist without state (or equivalent) enforced rules of the road, often complex rules.

Moreover, neoliberalism's economic experimentation often conflates free markets with individual freedom—this is how we get wacky conjectures about forcing an individual to purchase broccoli when discussing whether our government can provide healthcare via an individual mandate.

Unfortunately, it is not uncommon to hear or read statements by neoliberalism's zealots that have woven together one or more myths to produce truly bizarre assertions. Recently the House Budget Committee Chairman Paul Ryan asserted that his Catholic teaching on subsidiary guided his proposed draconian budget cuts to programs helping our poor. Ryan conflates a religious concept with the secular concept of federalism to give his muddled thinking a moral or religious foundation! (video below)

The good news is that we have a very capable and dynamic president; near real-time communications; empirical research and data on neoliberalism's failed economic experimentation (the Great Recession1 is its latest failure), and a skeptical citizenry willing to push back

UPDATED 04/04/2012 SeattlePI, FACT CHECK: Romney, Obama gloss over realities Here's a  link to the Romney's speech that the article fact checks—see below for our President's Wardman Park speech before the same group)

It's difficult to imagine that any informed American ,much less a presidential candidate would think that today's caustic election year environment provides our Presidents with more flexibility than off election years, even one as capable and talented as our current President!

Maybe Romney has been talking to "God" and knows something about our President or Putin that the rest of us don't—if so, he should stop hiding it. Perhaps Romney does not want to share his conversation before the election, either with the public or the press.

UPDATED 04/03/2012 WH, Remarks by the President at the Associated Press Luncheon, Marriott Wardman Park, Washington, D.C.

President takes on the brazen brass balls crowd that brook no balance in their extreme reactionary efforts to regress America to circa 1930s—a doubling down on an experimental form of social Darwinism, which has proved, so recently to be a catastrophic failure.

The President's putative opponent for election 2012, Mitt Romney address the same group the president

UPDATED 03/16/2012 WH,Remarks by the President on American Energy Prince George's Community College Largo, Maryland

A transparent and timely transition to tomorrows renewable, reliable, and clean energy infrastructure is surely a more urgent national priority than continuing to subsidize yesterday's old oil energy infrastructure.

A significant downside of our current methods of transition is that contentious competition tends to dominate contentious cooperation—drama dominates doing.

UPDATED 03/02/2012 WH,Remarks by the President on American Energy Nashua Community College Nashua, New Hampshire

Hopefully, other future flat-earth-faithful fairytales will trigger similar presidential visits to our community colleges, colleges and universities.

UPDATED 02/18/2012 WH, Remarks by the President at a Campaign Event, Nob Hill Masonic Auditorium San Francisco, California


1. The Great Recession has severely damaged neoliberalism economic theory and may result in its terminal demise.

2. The latest and still unfolding LIBOR harm is initially described in The Libor Scandal and Capitalism's Moral Decay.

Somehow our cowboy-cannibal-capitalist and brass-balls-boys have convinced themselves and others of the fallacy that their only obligation is to make profits at all costs.

3. Today leverage buy-outs are referred to as "private-equity" (LBO earned a bad name)—these specialists meticulously analyze and target undervalued businesses that can be profitably reconfigured. 

Notwithstanding substantial "wordsmithing" by private-equity proponents the goal of a reconfiguration is not the business's survival, it's maximum profit. The adverse effects of a reconfiguration can ripple through our economy for decades.

It's misleading to suggest that an LBO or private equity specialist is an experienced businessperson. They are investors that place a targeted business's assets in the most profitable reconfiguration (usually using other specialists), which more times than not means auctioning of the business in pieces.

4. There are significant data to suggest that a society would decayed and disappear long before its wealth could be allocated in such a lopsided proportion.

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