Tell me again what it was we learned from Hover? From Japan?
Hear Ye, Hear Ye! Note the lack of shock and disgust in all those reports about the Wall Street Aristocracy getting a secret $1.2 trillion boost from The Bernank. We are so shell-shocked by the level of corruption that we no longer react – it is not news, just more of the same.
Good News: A new survey says salaried workers in the US can look forward to a 2.8% increase in their pay next year. Many hourly workers
will may continue to have jobs.
Anschluss Zwei punkt Null: "Unless and until a fundamental change of regime occurs involving an extensive surrender of national fiscal sovereignty, it is imperative that the no bail-out rule that is still enshrined in the treaties and the associated disciplining function of the capital markets be strengthened." Surrender? To whom? Oh, Die Deutschen. Again.
Repeat After Me: Workers are consumers. And vice versa. It's not just the unemployed who can't buy things. Many workers' incomes are so low they cannot afford much beyond the basics. Median wages dropped 1.3% in the last 8 months, and they now earn less in real terms than they did a decade ago. Every company that continues to squeeze payrolls needs to understand they are squeezing their customers' wallets.
Attack Dog: Over the weekend the MSM, led by the Washington Post, opened a new front in the war on Social Security, alleging that the SS Disability fund was comatose. Not true, of course. The Disability Fund is fully funded through 2018. The combined Social Security/SS Disability Fund is wholly funded until 2038 and – if the Republicans are still around and still blocking any increase in taxes on the rich – will be able to continue paying at least 80% of scheduled benefits for much longer. This “disaster” was faced before – back in 1994 – and can easily be resolved the same way now as it was then.
Euro peoned: Free, efficient, and central-bank free markets will save us, we're told, if only the ECB can monetize enough PIIGY bonds.
Hi-Ho, Hi-Ho, It's Off the Shore They Go: Obama's relentless pursuit of Free Trade Agreements with South Korea, Columbia and Panama insures that more middle-class manufacturing jobs will be shipped overseas. The future – according to the Trade Rep Ron Kirk - belongs to those with multiple college degrees. Half of our trade deficit, he says, “are things that frankly, we don't want to make in America, you know, cheaper products, low-skill jobs.” Not highly skilled jobs like flipping hamburgers.
This Is A Test: Florida's program of requiring welfare applicants take drug tests does not save taxpayer money unlees the average drug-free recipient stays on welfare for at least ten months, otherwise the state is spending the money just to punish.. oh, right.
Remember When: Obama once said the chances for another recession are not likely and he would go all out to help create more jobs and economic growth. Right, last week.
Grapes of Rather: Politicians in the US continue to ignore the worker in favor of the bankers, pretending that the years of economic inequality are the natural order of things. It would take courage and principles to stand up to Wall Street and the rabid right and work to re-balance the wealth in the society – things like jobs programs, some form of debt forgiveness and a shifting of the tax burden on the top 10%. But our politicians would rather keep taking handouts from the corporations, even as the future slips away.
Farmyard Odor: The British Defence Ministry is blocking construction of hundreds of wind turbines because their vibrations would interfere with detecting nuclear explosions.
Porn O'Graph:What Little Boy Blue Saw. (How the cow ate the corn.)