The Staton Jones Report

As noted in many journals, the U.S. Labor Department declared that in March, 308K new jobs were created. But, not all jobs are equal, and some ugly trends continue:

• Manufacturing gained no new jobs, but hit a statistical zero in losses, a first in 44 months.
  
• The only sector losing jobs last month was information services, where companies cut about 1,000 jobs.
  

The first point is good, finally the hemmoraging may be ending in manufacturing (I don't believe it to be so), but the second point hits home. IT continues to erode in the U.S. and nothing can turn it around at this point. Despite enormous tax give aways, the investor class remains stuck in park with regard to investing in new IT businesses (according to I, Cringley).

The Bush White House is throwing away the U.S. lead in biotech research to appease the religious loonies afraid of living hundreds of years without the spectre of cancer or even old age. I predict that, ironically, Cuba and Israel will lead the world in this research (Ponce de Leon would be pleased to know that Cuba will develop the first usable longevity technology). If we don't have regime change this fall, the U.S. will continue to sink under it's own weight -- we'll be the other Russia.