The Economic Policy Institute released a study last Friday debunking the typical explanations for America's declining manufacturing sector. The usual story goes something like this: greedy unions are bleeding our domestic corporations dry with unreasonably inflated wages, making their employers uncompetitive in today's globalized economy and provoking capital flight. But Josh Bivens argues that blue-collar workers are one of the few factors not dragging down the U.S. manufacturing economy. Our workers are paid less and produce more than most of our rivals, which should give us a leg up on the competition. Instead, U.S. manufacturing is being undercut by the "grossly overvalued U.S. dollar" that forces up the price of American goods overseas while keeping foreign-made goods cheap at home. Since 1999, the disproportionate value of the dollar has created a 10 to 16 percent competitive labor disadvantage for U.S. industry when compared to the previous decade. Other detrimental factors include the astronomical costs of American health care and managerial pay that is 134 percent higher than the wages of the workers they supervise.

Now, if he uses that speech to set forth his plan to "change," "reform" SocSec, I foresee another round of dropping pubic confidence. Right now, for most Americans, SocSec is the single absolutely secure thing they can count on for their old age. Medicare, yes, but there are always unexpected expenses and co-pays for any healthcare services. So, yes, it't there, but may still be unaffordable. SocSec is paid into and is there for them. For us.

Obama really wants to rock that boat at this time?

Lambert at Corrente has a post up by Chris Bowers about what seems to be emerging about the SocSec Summit -- and tries to suss what the various reports mean. Who knows for sure? It's going to be sprung on us, but Obama did court the Blue Dogs and Repubs and they did say they felt they had someone in Obama they could work with to "fix" SocSec.

Yeah, "fix" as in "neuter"...?

Bill Clinton is a better at representing Obama's intentions and reasons in a simple conversational manner than Obama is able to do for himself...

"I ran New York City, took over New York City at a time of fiscal peril and crisis, and this is exactly the wrong approach.  The first thing you should do is to reduce expenditures.  And that would give confidence to the market. That would say economic discipline is being imposed.

"If you've got an institution that's in trouble, the first thing you do is cut costs.  You don't add costs, at least not in a very unspecific way like this.  This is exactly the wrong way to turn around an ailing -- any kind of ailing institution."

After syndicated columnist and TV commentator Michelle Malkin spoke at Tuesday's rally, she was besieged by people asking her to autograph protest signs and pose for photos.

A man wearing a green fatigue jacket and sunglasses held up his camera to snap a shot of himself with Malkin. He was holding a sign with the name Obama in large, black block letters.

And inside the letter O was a prominent, black swastika.

I wasn't aware that the Queen of hate had moved from her gated community out East to the GOP haven that is the Springs.  Lucky us.  

Malkin, who lives in Colorado Springs

In his first weeks in office, President Barack Obama shut down his predecessor's system for reviewing regulations, realigned and expanded two key White House policymaking bodies and extended economic sanctions against parties to the conflict in the African nation of Cote D'Ivoire.

Despite the intense scrutiny a president gets just after the inauguration, Obama managed to take all these actions with nary a mention from the White House press corps.

The moves escaped notice because they were never announced by the White House Press Office and were never placed on the White House web site.

They came to light only because the official paperwork was transmitted to the Federal Register, a dense daily compendium of regulatory actions and other formal notices prepared by the National Archives. They were published there several days after the fact.

Details coming out right now!!!
servicers incentive to modify, 5 yr lower rates, uh oh dont like that, perhaps asking congress for cramdowns, my posts here

75 billion  homeowner stability initiative to reach an additional 3-4 million at risk homeowners supporting low interest rates by increasing confidence in Fannie and Freddie, ugh,

Homeowner Stability Initiative aimed at those who `commit to making reasonable monthly mortgage payments'..

Obama plan promises, "no aid for speculators"..

Aimed to help households `at risk' who are current in payments..

May incentives built into the plan for servicers and lenders to get on board says Steve...

Lenders under Homeowner Stabilty Initiative will bring down paymetns to 38% of borrowers income TOLD YA!! THEN the government would match further reductions down to 31% of the borrowers income...a low interest rate must be in place for 5 year after which it can gradually be raised to market rates, UH OH THAT IS A TEASER NO NO NO!!!! WTH do they want more ARMS this will lead to waves later, oh good gawd!!!