"We've given you people all you need to know..." --Ann Romney
Perversity of Markets: According to BofA, the drought now devastating the American heartland is a good thing, and farmers are in better shape than you've been led to believe. After all, BofA points out, the increase in prices means farmers may make more money because their harvest is poor. If food becomes scarce enough, sure some people will go hungry, but those who have money will pay anything, anything to eat.
Exactly My Point: "Markets Rise After Bad Economic News." Any questions?
The Roof Leaks: Existing home sales fell 5.4% in June. The NAR quickly whipped out the lipstick to claim “buyer interest remains solid," and complained – with a straight face - “inventory continues to shrink and that is limiting buying opportunities.”
Lies And Lying: The Romney campaign has released an astonishingly deceptive new ad, containing a blatant, flat-out lie. They tacked together snippets of words and sentences to make it sound as if President Obama said something he did not say, and then attacked him for saying it. How many “news” outlets will tell the public they are being lied to? If they do not, what is the purpose and function of journalism?
On The Numbers: Initial unemployment claims returned to the realm of reality last week, at 386,000 – putting the lie to last week's 350,000. Continuing claims, at 3,314,000 also missed expectations.
Sad Cow Disease: As farmers see their corn crop withering in the fields, ranchers are putting their cattle on the market now because they won't be able to feed them later. This is giving rise to the largest drop in livestock head-count in history.
The Other Half: Instead of raising intentional barriers to voters, Washington state has become the first to offer voter registration via Facebook.
Reaching For The Cure: In 2001, Portugal decriminalized possession and use of drugs, and moved those arrested for drug use from the criminal courts to special courts where each offender's situation is judged by legal experts, psychologists, and social workers. How has treating drug use as a public health problem worked out? Cut the number of addicts in half, reduced the number of sick people and overdose related hospitalizations and deaths. Crime rates have also fallen, as fewer druggies are committing crimes to support their habits.
Going For The Gold: Take your snacks - chips, crisps, candy bars - out of their packaging and put them in clear plastic baggies. Put black tape over any visible logo on your clothing. Spay gray paint over the logo and brand name on your trainers. There, now you're ready for the Olympic$! Plain brown paper wrapping, anyone?
Porn O'Graph: What I did on my summer vacation(s).
The Parting Shot: