Let’s hope history doesn’t repeat itself.
Worst Answers: We won't have another Great Depression because: "History has basically made us smarter." and "We have the computer " and "We have the internet ."
Mumbled Numbers: BLS reported unemployment rose to 8.1% in February. Real (U6) unemployment rose to 14.8%. The number of unemployed persons increased by 851,000 to 12.5 million. Over 2.5 million jobs have evaporated in the last 4 months.
Poorly Trained: US rail freight traffic dropped sharply in February; carload traffic fell 14.5% and intermodal traffic fell 18.7%.
Life Die : "Healthcare is a privilege" that Obama's "fast march to socialism" would pretend is a right. So says Rep. Zach Wamp (R-Tn), accusing Obama of encouraging "class warfare in order for him to be able to say everyone" has a right to health care.
Rhetorical Question: "Are Republicans Suddenly Concerned About Deficits or Do They Just Want to Embarrass President Obama?"
The Garden Path: We are being told that we must nationalize our banks losses, prop up zombie companies, lower interest rates to zero, and pass stimulus packages in order to escape the fate of Japan—which, um, partially nationalized its banks, propped up zombie companies, lowered interest rates to zero, and passed eight stimulus packages - all to no avail.
Push Button Ease: California's secretary of state reports that "voting systems" made by Premier Election Solutions (formerly Diebold Election Systems) have a delete button.
Piqued: GOP Senators have placed indefinite holds on the nominations of Austan Goolsbee and Cecilia Rouse to the White House Council of Economic Advisers. Under Senate rules, any senator can block consideration of a nominee without giving a reason and without being identified.
Omerta: Doctors are forcing patients to sign non-disclosure agreements before treating them, as the medical profession again tries to hide its performance record behind a wall of white silence. They claim that knowing the costs and outcomes achieved by various practitioners would not improve the level of care and might increase lawsuits for shoddy performance.
Omerta II: Why won't the government say where the $200 billion given to AIG has gone? Because they don't want you to know. Now shut up and sit down.
Scratch & Sniff: The Obama housing bailout offers "incentives to extinguish second liens", so the borrower can concentrate on paying the primary mortgage. Seems reasonable; but why not cancel the student loan, car payments and those obnoxious dunning letters from Visa? This whole plan does not pass the laugh test.
Who spent all the oil? The easy oil has been found, pumped, burned. What remains is ever more expensive to find, obtain, transport and refine. With investment tanking, projects getting shelved and the pipes getting rustier each day, in a few years - recovery or no - supply will start falling and in 5 to 8 years will be seriously short of demand. What's that ahead? Green energy? A sign that says 'Cliff ahead'?
What Happened? Barclays has been asked to explain where $3.3 billion in Lehman "bonus" funds disappeared to after Barclays took over the UK branch of Lehman Brothers. Well, duh.
Addictions: Various groups want the US to switch from gasoline powered cars to natural gas powered cars. That's like an alcoholic switching from booze to beer, it might cost a bit less but the same hangover awaits come morning.
Porn O'Graph: Double Vision at work.