Being wrong is unavoidable, willful ignorance is.
Only In America: Among the 61 schools Chicago is closing is Crispus Attucks Elementary, where 48% of the students are homeless. Keep that in mind as you listen to the right praise Apple for not paying taxes.
Some Are More Equal Than Others: Not a single bankster has been arrested, much less convicted of fraud or grand larceny for taking part in the greatest robbery in history, yet over 7,700 Americans have been arrested for protesting the impune rapacity of the big banks.
Case Closed: Russian scientists studying global warming from a research station in the Arctic are having to evacuate the station because the ice it sits on is melting.
Comes The Dawn: Ken Rogoff – having tired of being poster boy for the economic excuse for pointless austerity – now says that “massive writedowns of debt” will be required to end the crisis in the eurozone. Can't bring himself to say “stimulus”. Meanwhile, long-term youth unemployment in Sweden is being blamed for four days of riots in Stockholm suburbs. With unemployment among Greek youth approaching 75%, Athens seems set for turmoil And Germany and France, supposed healthy economies, are “still in contraction” as output across the eurozone signals continuing recession. There are desperate folks in the US, too.
Wording: “Military suffers wave of gay sex assaults... “ The gays aren't having much fun either.
Structure: The remarkable rate of unemployment and underemployment among recent college graduates suggests that today’s unemployment is not due to a lack of skills or educated workers. Maybe the problem is weak demand. Maybe someone should stimulate demand and get the cycle started again.
Pricking Thumbs: A USGS study says that frogs, toads and other amphibians in North America are likely to be extinct by 2033.
State of Play: Stimulating demand and creating inflation by giving vast amounts of money to Wall Street has not been as successful as the Fed thought it would be.
Picky, Picky: The Heritage Foundation claims “Most macroeconomic models agree that government “stimulus” spending crowds out private investment.” Doesn't this assume that money, once spent, disappears? That when the government spends a dollar on a new stapler, that dollar is gone, never to be seen again. Yet when I spend a dollar on a new stapler, the economy hums...
Quoted: “I am persuaded that big changes are coming to long standing global currency arrangements. “ Jesse.
For The Greater Good: The Republican campaign to starve the beast (i.e. Government) in order to make life better for the people continues, by starving some of the people and depriving the rest of essential services.
Other Duties As Assigned: Louie Gohmert (R-TX) says that the IRS should spend less time worrying about Tea Party groups violating the tax code and more time rooting owls out of the K-Mart sign in his hometown. Seems they are “mating like crazy” and disturbing the dignity of the state.
Porn O'Graph: Infrastructure, illustrated.
The Parting Shot: