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Utah economist Jeff Thredgold’s Tea Leaf economic update this week focuses on the gyrating stock market and slow job growth: “The American stock market continued its psychotic behavior in recent days with up and down moves all over the map. A sharp 281-point downturn on Friday, August 3 gave way to a similar 287-point jump on Monday, August 6, the largest one-day percentage gain (up 2.2%) in four years. . . . (Meanwhile,) the U.S. Department of Labor reported a net gain of 92,000 jobs in July 2007, below the 127,000 consensus view. Reported gains of the two prior months were revised lower by 8,000 jobs. The U.S. economy added an average of 136,000 net new jobs monthly in 2007's first seven months, down 28% from the 189,000 average monthly pace during 2006.”
Today in Political History
August 9, 1945: The U.S. drops the second atomic bomb on Japan at Nagasaki. (Source: Perspicuity)
August 9, 1974: VP Gerald Ford is sworn in as the 38th President of the United States following Richard Nixon’s resignation. (Source: NBC5)
Wise Words
“The taxpayer -- that's someone who works for the federal government but doesn't have to take the civil service examination.”
-- Ronald Reagan
Utah Political Trivia
Tiny Counties Top Voter Turnout
In the 2006 general election, voter turnout was far superior in small population counties. Tiny Daggett County topped the state, with 77.63% of registered voters turning out. Next was Piute, with 76.58%; Wayne, 67.50%; Millard, 60.35 and Garfield, 60.30. Interestingly, Salt Lake County had the best turnout among large counties, with 46.21% voting. Utah County had 43% and Davis, 42%.
National Politics
Best Stories From . . .
-- Los Angeles Times: "Hoping to cut into her widening lead, top-tier Democratic presidential candidates used a testy debate [in Chicago] Tuesday to cast New York Sen. Hillary Rodham Clinton as beholden to powerful Washington lobbyists and too compromised to revamp healthcare and make changes the party wants to see once George W. Bush leaves office."
-- The Politico: Columnist Roger Simon: "If you were wondering if there is ever going to be a 'Sister Souljah' moment in this presidential race, in which a Democrat actually stands up to a major special interest group, I think you can forget it. At what was the third organized labor forum since February, all the major Democratic candidates gathered in the withering heat of Soldier Field and ... withered. They promised everything and demanded nothing. Except votes, of course."
-- Wall Street Journal: Despite his ability to draw crowds and donations, Sen. Barack Obama is still largely unknown to Hispanic voters.
-- Des Moines Register: "New Mexico Gov. Bill Richardson on Tuesday unveiled a universal health care plan aimed at covering 45 million Americans lacking health insurance, while allowing people to keep current coverage if they are satisfied with it."
Lighter Side
Best of Late Night Humor
Conan O’Brien: Latest on the campaign: It was reported that things are going so badly for Senator John McCain that he has to carry his own luggage. Meanwhile, things are going so badly for Dennis Kucinich’s campaign, he has to carry Barack Obama’s luggage.
David Letterman: “Top Signs President Bush Needs A Vacation”: Staffers found him having a conversation with a coat rack; Asked CIA director to have Jason Bourne join hunt for Osama; Hasn’t stopped sobbing since he was passed over for “The Price is Right”; Has only seen the new Harry Potter movie four times; So overworked he’s pronouncing words correctly; He’s been drinking like an astronaut.
Jay Leno: Today Chinese officials recalled one million tons of lead because it may contain toys. ... Hillary Clinton was chastised by The Washington Post for showing too much cleavage in front of the Senate. See, that seems sexist to me. They’ve never gone after Senator Ted Kennedy for doing the exact same thing. ... It’s amazing isn’t it? The United States is 231 years old, but apparently the media is only 13. ... Democratic presidential candidate Barack Obama said today that he would not use nuclear weapons under any circumstances. I didn’t realize his battle with Hillary had escalated to this level. I just thought there was a little friction. ... If you haven’t seen “The Bourne Ultimatum,” it’s about a guy who works for the government but can’t remember his past. The original title was “The Alberto Gonzales Story.” ... Happy Birthday to our governor, Arnold Schwarzenegger, who is 60 years old. You can tell he’s getting up there. Remember when he used to say things like, “I’ll be back”? Now he says, “Ow, my back.” |
