Crush Liberalism

Liberalism: Why think when you can “feel”?

Pelosi, basing her lunacy on “economic experts”, claims extending unemployment bennies would “save or create” 600,000 jobs

I tell you, folks, when this wench doubles down on stupid, she really doubles down on stupid.

So, who are these “experts” that get their 600k figure?  Well, we know of at least one of these “experts”:

In May 2010, then-Speaker Nancy Pelosi took to a podium in the Capitol to introduce a half-dozen economic experts she had convened for a meeting on how to jump-start the economy. The group had met for several hours with top Democratic leaders, and Pelosi invited them to speak publicly on their perspectives on economic growth.

What Pelosi did not mention is that one of the men in the group was her son’s boss and a partner with her husband in more than a half-dozen investments, including one that generated more than $100,000 in income for the Speaker’s family last year.

It was the fourth time since 2007 that Pelosi had invited San Francisco investment banker William Hambrecht to be part of an economic policy forum on the Hill and the third time she appeared at a podium with him to speak to reporters. At none of those events did the then-Speaker reveal her financial ties to Hambrecht,  and House rules did not require her to do so.

Her son’s boss and business partner.  Well, hell, why don’t we base all economic decisions on Peloco’s connections, considering their wildly successful track record?  Or not.

The best-known Hambrecht/Pelosi partnership is the struggling United Football League.

An October 2009 Washington Post story reported that Paul Pelosi had purchased a team in Hambrecht’s nascent league for $12 million. The article was published four days before Hambrecht participated in another of Pelosi’s economic forums. After that four-hour meeting, Pelosi introduced Hambrecht and several other “leading economists” at a news conference, saying, “They’re going to tell you some of their forecasts that they told us about — some of the options that we may have in investments, in tax policy, in budgetary overview, on how we create jobs in the most fiscally sound way,” according to a CQ transcript.

Again, Pelosi did not mention her family’s investments with Hambrecht.

According to Pelosi’s disclosure form, most of the Hambrecht-linked investments produced losses or very little income last year except for one — an investment worth $5 million to $25 million in an investment firm called Matthews International Capital Management. The firm, partly owned by Hambrecht, specializes in Asian investments and earned Paul Pelosi somewhere from $100,000 to $1 million in income last year. Paul Pelosi also maintained a brokerage account with Hambrecht’s firm last year worth $500,000 to $1 million.

The Pelosis’ son, Paul Pelosi Jr., worked at Hambrecht’s company as an investment banker from July 2009 to September 2011, but a source familiar with his employment said, “He did not work on any investments that his family had through the company.”

The two families have been friends for many years, and the Hambrechts have donated more than $2 million to Democratic campaigns and causes, according to Federal Election Commission records.

Because the best and brightest economists just so happen to be mega donors to Democrats…which I’m sure is totally coinkidinkal, right?

ObamaCare was supposed to produce 400k jobs instantly.  Preditcably enough, it didn’t.  Paying people not to work is predicted to produce 600k jobs instantly.  Ed notes how that is, um, unlikely:

This is a fairly testable hypothesis.  The last time Congress extended the jobless benefits was a year ago, in another crunch-time compromise between Republicans and Democrats on Pennsylvania Avenue.  Since then, the economy has added about 1.5 million jobs — an average of 125,000 a month, which is only enough to keep up with population growth.  Assuming that Pelosi’s correct and we subtract 600,000 from the 2011 numbers, the Obama adminstration’s economic policies would account for growth that falls well below that of population maintenance — at only 75,000 per month.

At some point, Democrats who actually want to work (both of them) will have to accept that liberals are economic illiterates of the highest order.

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December 19, 2011 - Posted by | corruption, economic ignorance, Pelosi

2 Comments »

  1. Are they pumping aerosolized crack into the air vents in the Capital? There is no other explanation for the insanity of these people.

    Comment by Kanaka Girl | December 20, 2011

  2. I have an explanation…they know full well they are full of bovine feces, but they they simply don’t CARE. They intend to manufacture whatever they feel is needed (in this case, a fairy tale concept of unemployment-stimulated….um…employment opportunity?)in order to keep the entitlements rolling since that is the base upon which they seek reelection – so they intend to widen and deepen that base.
    Keep the people enslaved by entitlements (thus, never actually rising ABOVE their economic dependence) so they will continue to reelect these vermin who promise to keep the entitlements flowing (perpetual, is it not?)

    Comment by Kevin | December 20, 2011


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