The day of
reckoning printing draws nearer.
Cliff Dwellers: What passes for leadership in Congress has agreed to put off facing reality for another six months, with a six-month stopgap spending bill that will avoid shutting down the government just before the election. Neither side dared go to the polls having stood up for what they theoretically believe in. Kick the can.
Ups & Downs, Or Vice Versa: US companies – 79% of 'em - continue to cut their earnings guidance to investors. But the market seems indifferent, betting on the rumored inevitability of another round of largess from the Fed.
Exactly: “The Fed should stop paying banks not to lend.”
The Pain In Spain: Some 100,000 workers in the Catalonia region of Spain will not be paid, nor will hospitals, schools, child care centers and on and on, for they are broke. Other Spanish regions are not much better off, and to pretend that Spain can avoid a bailout is patently absurd. Whether it can be bailed out is a different matter.
Gag Me With an iPhone: Romney's choice for VP will be announced via an iPhone app. Whoopee.
Is Our Housing Recovering? Housing starts are at the highest rate in four years, more houses are selling and selling at higher prices and there is now a shortage of houses on the market. Don't believe me? Ask a realtor. Hold your nose, and ask a realtor. Ask the NAR's Lawrence Yun, who claims “the downturn is over."
Unclear on the Concept: US Defense Secretary Panetta is visiting Egypt “to boost the new PM.” Didn't anybody notice how well received Secretary Clinton wasn't a few weeks ago? Egyptians don't think they need the US to bless their decisions – they foolishly believe they are an independent nation after throwing 'our boy' out.
Reality Check: If the Republicans could do away with the socialist government in Washington, the nation's poverty rate would be... 28.6%. But because we mollycoddle the parasites and lavish food stamps on them, only 15.5% of our citizens live in poverty.
Goose/Ganders: Do you think that Romney's staff only looks at the 2010 and 2011 tax returns of potential vice presidential candidates? The voters have a right to understand the finances of those who want to lead them. Romney will eventually understand this.
Love and Marriage: Wherever fracking has wormed its way into a community – at any level – transparency and accountability have collapsed and political power have been used to pave the way for the extractors, who end up owning your commissioners, owning your community, owning your mountains and your land and will end up doing whatever they want.
Warning: Economist Woody Brock says that a nation’s GDP growth is based mainly on whether or not it follows the rule of law. Which pretty much is bad news for the US.
Reality Check: Christian radio pastor Kevin Swanson said that Kermit The Frog deserves the death penalty for sodomy, and that Miss Piggy should be served “on a bun” for dissing Chick-Fil-A for its homophobia. Someone should tell Kevin that they're both puppets, something he should well understand.
Porn O'Graph: Facts are facts, illustrated.
The Parting Shot:
The lunch bunch.