The Mike Bertelsen Project

The jobs report released this morning gave us significantly lower report than expected. This shows growth has slowed or even has halted. The report gave a number of 142,000 jobs added in August. The expectation number was at 225,000.

Labor force participation was little changed at 62.8% and that number has held steady since April.

At this writing the Dow is striving to hold off a fourth down day in-a-row.

This Forbes article was the source for this post.

Every time you regulate an industry into inefficiency you reduce the ability of the economy to grow and thus pay for the governmentally provided services you so desire. Stop regulating, stop protecting incumbents and you might get enough economic growth to pay for your desires.

That seems simple enough doesn't it? What's the problem? Regulation has grown too much, stopping job growth. The wrong item is growing. We are placing too much protection from creative disruption.

The Federal Reserve hasn't recognized this and are still searching for an explanation.

If you would ask President Obama what percentage each income group should pay in taxes, most likely you wouldn't get an answer. He doesn't know the number. It doesn't matter since he sees taxes as ever increasing.

He sees tax dollars as government money on loan. The means of production, which gives us tax dollars, is not enough. Government wants to own the means of production. General Motors is the prime example. Let government own the means of production. The result, on paper anyway, is more revenue. Welcome to new socialism.

What is needed is accelerated growth in our economy. The debt ceiling could very well be imposed on us, or it has been imposed, but does or will it matter? Only the bond market knows for sure. Bond marketeers know that the U.S. debt is approaching levels past the point of no return. If lending stops, the debt ceiling doesn't matter.

Job creation is the priority.