Johnny has no job. Shame on Grandpa.

I saw James Carville in the airport in Dallas once. I overcame my natural urge to punch him, mostly because he looks kind of fragile - like a Muppet that got put in the dryer by mistake and kind of shrunk and stretched all at the same time. What I did do however, was recall his famous  "It's the economy stupid" comment during the Clinton years.

And it is.

And "the economy" to most people anyways, is highlighted by only 2 things - prices of goods led by gasoline prices - and jobs, with jobs in the lead by a bunch. If you don't have a job, you don't have the ability to bitch about prices, so jobs is Job One. Sorry Ford.

I ran across this chart on PJTV the other day and thought it appropriate to present to my readership.

Since 2008 (I wonder what happened then?) the job losses by age category have been most pronounced for young people - who have take almost 3 times the "hit" of other groups. As Steve Carrell from "The Office" mockingly said to a Princeton graduating class last week - "You are young, and because you are young, you are also wrong." I wonder if any of these new voters have a different opinion of their 2008 vote for Obama now that they are standing on the stage with a $150,000 student loan in one hand and shrinking job prospects in the other.And a degree in the third hand. The real world can be cruel sometimes.

But that isn't the most striking part of the graph. Look at the far right. (Small r!)

The only job growth in the last 4 years is in people over 60 who have had to postpone or abandon their retirement. Kids can't get jobs? Blame granny, because she isn't moving to Sarasota anymore. And remember - there is no more pissed off person than an old pissed off person.

These folks are going to be looking for blood in November. Across the board, young, middle aged and old - folks are going to hold politicians - a la Wisconsin - for their actions.

Is it the economy stupid? Yes, and the economy is jobs. QAnd EVERYONE is hurting.ap

Just ask grandpa.

Investing 101 - the Warren Buffett Method

A good buddy of mine tipped me off on this topic, so I thought I would muse on it.

Warren Buffett. The Oracle of Omaha. The guy that wants to pay more taxes. The most successful investor in the world. (Doesn't know capital gains from income - but hey, I guess he has people that worry about that for him!) Doesn't carry a cell phone or have a computer at his desk.

Noted philanthropist and frugal spendthrift, Buffett drives an older model sedan, nothing flashy - and a big treat for him is going out to the local DQ for a cone. Lives in the same house on the same street as he has for 50 years. Plays bridge for fun. Frugality all the way.

So given his business acumen, his obvious ability to judge character and business competence - why on earth would he want to "give" more money to gov't? Is it a good "investment"?

I mean would you invest your money in a company that has no control over it's spending? Has a temporary, part-time board of directors (elected officials) made up of buffoons and blowhards that have no experience in running a business? Creates ponzi schemes to inflate revenue projections?(Medicare), has at least 500 bosses? (Congress and Senate), cannot focus on one line of business, has not adhered to a budget or even a budget process in over 200 years?

Makes ALL decisions via committee? Has had special deals with their "suppliers" (unions and public sector unions) that grossly inflate the cost of input items in return for a kickback (promise of votes)?Whose stock price (currency value) has plummeted almost 50% despite having a monopoly in their market segment? Has shoddy and suspect accounting practices? Wastes, or just plain misplaces, billions if not trillions of dollars per year of investor funds?

Would this be the kind of investment that a prudent, rational, experienced business legend like Buffett would advocate putting his own money in? Would you put YOUR own money into it?

I'm not competent enough to even carry Buffett's Dairy Queen tray, but Warren - stay away from this turkey. There is no upside to this investment. Try something less risky.

 Like slot machines. You might at least enjoy money well wasted. Might be more fun than bridge.