Turns out 'forever' had an expiration date. (Seeking Alpha)
Once over: In case you haven't been sufficiently bombarded, more Americans applied for unemployment last week (626,000 of 'em) than any time in the last 26 years. January retail sales also fell significantly, while credit card delinquencies rose dramatically.
Cardiff Giant: Three senior economists from the Federal Reserve Bank of Minneapolis, having examined the Fed's data closely, conclude that at no point had lending seized up. In fact, " banks were lending to each other at record levels." They went on to conclude “Maybe Bernanke and Paulson had information that they were not making public, but the available data simply did not support what they were saying."
Wreckers: The GOP would prefer to let a depression occur than let government - useless, discredited government - save the day. It is in their political interest to kill the bill, or at least maim it beyond recognition, for the economic disaster will be blamed on the Democrats, and rightly so, if they let the Republicans get away with this.
Consequences: Could the light at the end of the tunnel be peasants with torches? If the economic system fails, can society be far behind?
Real Life vs Bailout: In real life, if a company fails the cause is immaterial, it failed. Failed companies go out of business. The people who ran the failed company are out of work, and labeled as failures. Those who put up the money (stockholders) lose their investments. The assets are auctioned off to the highest bidder and split between the creditors. Taxpayers are not involved. Any resemblance to the bailout process is imaginary.
Educational Play: Get your kid her own airport screening station, Playmobil's Security Check Point ($62). Comes with wands, metal detector, x-ray belt, racial profiling guide, handcuffs and Mace. Sorry we missed it before Christmas.
Dreaming Nightmare: Energy Secretary Chu sees California's water shortages becoming ever worse, with the Sierra snowpack nearly disappearing over time. This will lead to "no more agriculture in California," and he added, "I don't actually see how they can keep their cities going." In 1997 California's population was 22 million; in 30 years it has grown to 36 million.
Headline Only: "Congress: A Distinct Criminal Class?
Another One: "Good News: Massive Layoffs Means Big Productivity Gains." Don't you just love the capitalists.
Redundancy: President Obama is establishing a second faith-based office, this one in the White House to coordinate violation of the church-state separation doctrine. It joins the Treasury, a faith-based department which routinely violates the separation of government and Wall Street.
ENOUGH ! In the name of sanity and truth, FOX should be enjoined from using the word 'news'. Now they've got Glen Beck running a Comrade Update for Communist Leader Obama, detailing the nation's descent into socialism. Two things: (1) the US is not descending into socialism, it is striving mightily to save capitalism and (2) ameliorating capitalist excesses is not down - it is up, and a destination devoutly to be wished.
Porn O'Graph: Invitation to a Lynching.