Why do they call them 'lessons' if no one learns anything?
Charge It: Greece would be better off transferring their debt to a new Visa card. They'd get air miles and not have to pay any more than the 26% interest they're paying now.
Reservations: The argument in defense of Goldman seems to be that it was in fact a casino. You wanted to bet on sub-prime, they'd take your money. You wanted to bet against sub-prime, they'd take your money. As long as every one involved understands that the big financial institutions are essentially bookies, the odds are known and the pricing and payoffs acceptable, fine have at it. The customers wanted a chance to 'speculate', and they did. Maybe we could get the Indians to run the investment houses, or put them on steamboats on the Mississippi.
Freedom and Unity: Living up to it's motto, the citizens of Vermont have instructed their government to begin work on a single-payer health system. You know, like Obama promised.
On The List: The OK Senate overrode the governor's veto, making it state law that it is okay for your doctor to lie to you about you fetus's health, and forcing you to listen to a vivid (and misleading?) description of the fetus and have an ultrasound thrust in your face before having an abortion. The laws will be overturned after the state wastes a bunch of money keeping the right wingers happy.
Homeward Bound: The Census reports that home ownership in the US has reached a 10 year low. And that's after pretending that 'homeowners' includes those with no equity and those underwater and those who have stopped paying the mortgage but haven't yet been evicted.
Enlightenment: Iraqi Prime Minister al-Maliki says that prisoners tortured themselves (by hanging themselves upside down, whipping and suffocating each other, beatings etc) in order to make his government look bad. He didn't need the help.
Status Report: Deepwater Horizon took $560 million to the bottom of the Gulf – about a mile down. The replacement will run close to a billion. The blow-out preventer didn't, and as much as 200,000 gallons a day (an Exxon Valdez every 2 months... ) are spewing into the Gulf, and will be for at least three months – that's how long it will take to complete a relief well which may – or may not – stop the flow. 'Drill baby drill' isn't going to be near as popular along the coast from New Orleans to Tampa as it is on Palin's platform.
Un-People: In Mississippi, lesbian students cannot go to their class proms and cannot have their pictures included in the school yearbook. If a student is found to be a lesbian, all of the previous yearbooks in which she appeared will be recalled and the her images photoshopped out.
Cat/Bag: According to NAM, only 30% of the 2 million manufacturing jobs lost in the recent Whatever will come back. And those will dribble back over six years.
Stand On A Chair: Germany (and the IMF) may bail out Greece, but if they do they will try to force Greece to get its budget deficit down to 3% of GDP by 2012. That's not going to happen unless there is a huge surge in exports, and the world is pretty full of olives and ouzo. Plus the budget cutting will lead to unemployment, economic contraction, deflation, and increased government spending on social support. And that gets us back to increased deficit spending.
Daily Petard: Sen. Chuck Grassley (R-IA) claims he "worked successfully to improve Medicare payments to doctors in rural states like Iowa and, in turn, access for beneficiaries, as part of the health care reform enacted this year." But Grassley voted against the health care bill, claiming it was, “a government run plan to decide when to pull the plug on grandma.”
Quoted: “When it comes to economic growth and the future of mankind, there is nothing more precious – and more crucial – than cheap energy.” Study this graph to understand why the next quote is “Be afraid.”