Growth is not a cure-all; it might not even be a cure-most.
Daddy Took The T-Bills Away: As soon as Bernanke made it clear that QE3 was going to be a non-starter, gold and silver plunged. So, without more QEasing to prop up assets, where will the next trillion in liquidity come from?
Global Markets: The reason gasoline prices in the mid-section of the US are still reasonable is that there is no way to get it to ports. The Keystone pipeline will take care of that, shipping the glut to the Gulf and onward to world markets. Which will raise the price of gasoline in the Midwest considerably, throwing more people out of work.
Fool Me Once...Irish politicians are convinced they can bamboozle the voters into agreeing to give up financial independence in return for even more austerity. Why not, it worked the last time around.
Good Works: Daniel Pearl, the Jewish reporter who was killed in Pakistan in 2002, has been saved via posthumous baptism. Ask Mitt how this works.
Easy Come, Easy Go: About 70% of the economic boost from the payroll tax extension will go to increased gasoline prices.
Progress: Statins, at one point thought to be such a cure all for everything that it should be put in the drinking water, turn out to increase the risk of Type 2 diabetes by 48%. Do you want fries with that?
Snake Oil Salesman: Newt claims "We will probably, by the end of the decade, be the largest oil-producing country in the world." Today's producers of "crude and condensate"- the real stuff that can be refined into gasoline and diesel - are Russia (9.7 mbd), Saudi Arabia (9.4) and in third place, the USA (5.6 mbd). In that the US isn't going to increase its production nearly 75%, he must be betting on the Russian and Saudi fields collapsing.
Just Wondering: The ECB is taking questionable bank assets as security and loaning the banks another handful of euros. That's about a trillion euros so far, which the banks are supposed to buy back in three years. Awfully optimistic, that.
Emergency Supplies: Thank goodness Virginia has repealed the one-a-month limit on handgun purchases. A lot of women will be needing several just to keep legislators bearing ultrasound wands away.
Missionary Work: Newly discovered Stone Age tools found on the US east coast have been dated to an era 19,000 to 26,000 years ago. The tools are "virtually identical" to similar tools of the same period found in western Europe. Furthermore, at least one stone knife of that era found in Virginia was made from flint that had been quarried in what is now France and carried to the New World 20,000 years ago.