The future often appears closer in financial blogs than it actually is.
The 4% Solution According to MIT's billion price project, annual inflation in the US is running at 4%. It should please Mr. Krugman, if no one else.
Camping In: The average - average, mind you - mortgage on the 2.48 million houses in foreclosure has not been paid on in 599 days. Of the 1.9 million houses that are 90+ days delinquent but not yet in foreclosure, over 40% haven't had a payment in over a year. In all, over 12% of all mortgages are either delinquent or in foreclosure – and most of them are providing rent-free accommodations.
And The Winner Is: Which kills more people, terrorists or bathtubs? Bombers or lightning? And how much would it cost for Homeland Security and the Pentagon want to save us from the dreaded bathtubs? Or automobiles? In the category 'Biggest Scam', Homeland Security is easily the winner, and the 'Muslim terrorist threat' tied with 'privacy' for biggest hoax.
No Brainer: Berlusconi has decided to cut pensions and delay retirements instead of taxing the rich. Pretend to be surprised.
Dance Card: Eric Cantor plans on scheduling weekly votes in the House this fall, pretending to repeal federal regulations that Kill Jobs (caps mandatory, along with scary music). This is simply more beating the propaganda drum, designed to take attention away from the damage that the budget cuts will do to employment. Regulations are not, in fact, responsible for everything bad that's happened to the economy since Bush went back to Texas. Cantor will also go through the motions of preventing emissions regulations for power plants and cement plants – which he says would cost
Rounded-up Ready: Corn beetles have begun winning the battle against genetically modified corn crops, by becoming genetically modified themselves. It's called evolution. Read the fine print; Monsanto calls it an act of God and says they are not responsible – which is the same thing they said when the super-weeds showed up.
Clip & Save: The White House anti-terrorism chief, John Brennan, says AL-Qaida is on the ropes, on a steady slide, taking shots to the body and the head. Well, tat least he last part is true. He also characterized the Arab revolts as a "speed bump"
in US operations to kidnap and secretly imprison suspects.
First Responder: Here's a question for Eric Cantor, who doesn't want to authorize any disaster relief funding that isn't taken from other social spending: Where are the offsets for funding the war in Afghanistan – are they taken out off the budget for new military
toys spending? PS: Saying you didn't say it doesn't mean you didn't say it, Eric.
Scourge: Measles – a wholly preventable sometimes deadly disease – is making a comeback both in the US and in Europe because of the scourge of gullibility. Thirteen years ago a fraudulent research reoport claimed a connection between the measles vaccine and autism. No such connection existed, exists, or has ever existed. But those fearful of science insist on exposing their children to measles because they think they know best. So their children die – 150 so far this year in the US. Unnecessarily.
Porn O'Graph: Maybe not this time.