“Education is dangerous - Every educated person is a future enemy”
Rick Santorum. Herman Göring
Oilly Days: The US and Great Britain are pressuring France to join them in releasing oil from their strategic reserves as already puny economic recoveries begin to flounder on the shoals of rising prices caused by shortages in supply (despite Saudi posturing) caused by the continuing increase in Chinese (whose production is declining) and Indian demand. The effort is doomed in the long run, because there is little chance that either domestic or world-wide production can expand sufficiently to overcome the ongoing increase in demand and decreases in output from existing fields.
Taking Your Medicine: Men who have survived a heart attack now have a choice of a baby aspirin a day or two drinks. Decisions, decisions.
No Exit And Other Plays: The FHFA's Inspector General says that it is "highly unlikely – if not mathematically impossible" – for Fannie and Freddie to ever make it out of hock to the taxpayer. They currently owe the Treasury $183 billion and have no hope of ever paying it back. In fact, they have to borrow money from the Treasury to pay the Treasury the interest on the money they've borrowed. Ah, government finance.
'Nuff Said: Experts say that radiation at one of the Fukushima reactors is “far worse” than previously disclosed.
Numb-ers: Corporations are sitting on $1.9 trillion in cash and adding about $200 billion a month to this pile. That is an awful lot of liquidity sloshing around looking for an investment - any investment. Say goodnight, Mr. Bernanke...
Little Help Here, Please: European leaders are planning to increase the Eurobloc bailout fund with an additional €940 billion in newly issued debt to fund the bailout of Euronations with too much debt. Could someon explain this to me in a way that passes the laugh test?
Live Free Then Die: Let's have a single-payer health system that individuals could opt out of (but could never return to) by agreeing that they would be responsible for their own health care and would forego all treatment paid for by tax monies and be placed on a permanent Do Not Treat list, preventing an intrusive government from interfering with their health care. Romney agrees.
Previews: US heat waves will intensify and last longer as global warming grows. Hurricanes will be stronger and their storm surges more deadly. Large coastal cities and small islands are going to see significant and costly rises in sea level. By 2070 the cost of weather-related damages will approach 10% of global GDP. Or so those lying scientists at the IPCC say.
Difference: The operators of the Indian Point (NY) nuclear power plant have "agreed to pay a $1.2 million penalty... " Agreed to pay. Why just the other day I "agreed to pay" a $124 penalty for speeding.
No Means No: There will be Greek parliamentary elections in late April or May, and surveys show that the public has little enthusiasm for returning the current leadership to power. At least half the electorate intends to vote for groups – from Communists to Nazis – which oppose the austerity measures Germany has imposed on the country. Absent the emergence of a charismatic leader, the opposition may be so scattered that the IMF/EU appointed leadership will retain power.
Entering The Twilight Zone: The growth rate for all forms of consumer credit is higher than at any time during the credit bubble and is within 3% of its August 2008 peak. So much for the great deleveraging.
Alternate Reality: Just in case it turns out that global warming is not an enormous conspiracy by thousands of scientists, perhaps it would be worth taking a look at how close the warming is to being irreversible. Nah, it'd be depressing and doing something now to prevent it would harm corporate profits. Besides, the great ice sheets are already toast, as is the Amazonian rainforest. So it's either a hoax or it's already too late; what's on TV tonight?
Porn O'Graphic: Goal.