Dwight D. Eisenhower on the true magnitude of our follie when we spend on war:

“Every gun that is made, every warship launched, every rocket signifies, in the final sense, a theft from those who hunger and are not fed, from those who are cold and are not clothed.  The world in arms is not spending money alone.  It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children.”

–Dwight D. Eisenhower, President and five-star general (1890-1969), April 16, 1953

U.S. economic depression of 2008 update: manufacturing orders dropped to lowest levels since 1948.

U.S. depression update, Jan. 2, 2008, found here, at Bloomberg.com:

Jan. 2 (Bloomberg) — The decline in U.S. manufacturing deepened in December as demand for such products as cars, appliances and furniture reached the lowest level since at least 1948, signaling further cutbacks in factory jobs and production this year.

The Institute for Supply Management’s factory index fell to 32.4, below economists’ forecasts and the lowest level since 1980, from 36.2 the prior month. Readings less than 50 signal contraction. The group’s new-orders measure reached the lowest level on record and prices slid the most since 1949.

“Every component suggests that the weakness is going to carry over into 2009,” Mark Vitner, a senior economist at Wachovia Corp. in Charlotte, North Carolina, said in a Bloomberg Television interview. “There’s just not a whole lot of new business coming in,” and companies will have a “painful adjustment” as consumers shun spending.

Today’s figures underscore that, with private demand collapsing, manufacturers’ best hope for new business this year may be President-elect Barack Obama’s plans for an unprecedented stimulus package. Obama has pledged an investment program in roads, schools and the U.S. energy network akin to the 1950s- era interstate highway construction boom….”

scarcity

scarcity

U.S. unemployment soars to 14-year high, over a million jobs lost in the past year.

Patrice Hill reported this in the Washington Times today: (Click here to read her article.)

“Unemployment soared last month to a 14-year high, the Labor Department reported Friday, prompting the head of the panel that officially dates U.S. economic cycles to say there is no doubt that a recession is under way.

Businesses slashed nearly a quarter-million jobs, pushing the unemployment rate to 6.5 percent, the department said. The losses were deep and widespread across nearly every industry from retailing and office work to construction and manufacturing.

Only the health care, education, mining and government sectors avoided the job slaughter and posted modest employment gains.

“The evidence [of a recession] is more than compelling,” Robert Hall, the Stanford University economist who heads the National Bureau of Economic Research’s business-cycle dating committee, told Bloomberg News. “It’s conclusive, in my personal opinion.”

The full committee of eight economists has not officially declared that America is in a recession, however.

The 240,000 jobs eliminated last month came on top of a revised 284,000 job cut in September — far more than originally reported. Together, the figures show how the economy virtually fell off a cliff at the onset of a severe credit crisis that cut off financing for consumers and businesses alike while it caused the failure of a major Wall Street firm and banks in quick succession.

Manufacturers laid off a stunning 90,000 workers, while construction employment fell by another 49,000 and retailers trimmed staff by 38,000.

“We’re in the teeth of recession,” said John Silvia, chief economist at Wachovia Securities. He said the job losses will weigh heavily on consumers, who already have pulled back dramatically from spending in the past two months. And they point to a big drop in the economy in the final quarter of the year.

Harm Bandholz, economist at Unicredit Markets, noted that the job losses in the past two months amount to more than a half-million and bring the job losses for the year so far to more than 1 million – clearly pointing to a profound recession.”

American Woman convicted of microwaving her baby to death avoids the death penalty, smiles.

American woman who microwaved her baby to death avoids death penalty…(Click here to read article.)

Click here to see video of trial.

China Arnold smiled to friends and family after narrowly avoiding the death penalty for microwaving her 1 month old child to death.

China Arnold smiled to friends and family after narrowly avoiding the death penalty for microwaving her 1 month old child to death.

Shots Fired After Man is teased for passing gas

Click here to watch original newscast of this sick, sad true story.

wdropping a bomb leads to gunplaySOUTHPORT, NY – Flatulence is blamed for a Sunday night shooting at a Southport business.

William Hoover, 32, pulled out a semi-automatic rifle at Wheeler’s Beverage Barn and shot at three people who teased him about passing gas, a Chemung County sheriff’s investigator said.

The incident began inside the store after 6 p.m., where Hoover got into an argument with the three people who teased him about his flatulence, deputies said.

When the argument moved outside and turned physical, Hoover ran to his car, pulled out a semi-automatic rifle, and shot at the three people, deputies said. More