Making Haste Slowly: Refinancing mortgages has dropped to 2009 levels and overall mortgage activity is now at 2008 levels as mortgage rates rise; mortgage servicers and originators, lacking things to do, are laying of employees in bunches. Almost makes one doubt the experts who keep going on about a housing recovery.
As Assumed: Since the NSA's scooping and snooping of American telephone and other electronic communications began in earnest in 2006, "every day NSA analysts snooped on more American phone records than they were allowed to." It's become the Tomato that Ate
The Obvious, Revealed: All of the problems being encountered with the jury-rigged Affordable Care Act could easily be solved if we went straight to a single-payer system. Y'know, like Medicare and Medicaid and the VA system and... That's where we're going to end up anway. And should.
His Master's Voice: Goldman Sachs notes that the economic damage of the sequestration is becoming more and more noticeable in things like our moribund personal incomes and the drag from the government's non-spending. And it will get worse if Congress doesn't get around to doing its job. Which it has no intent of doing.
Career Guidance: Will Sutton should have been a lawyer, a bankruptcy lawyer. The vultures picking over Lehman Brothers' corpse have billed more than $2 billion – three times the haul they made off with from Enron's demise. The creditors will get 18 cents on the dollar.
Asked &Answered: What is driving down labor's share of the nation's income? How about the death of unions?
Monotonous: Capping an 85-year come-back, the richest 1% have grabbed the largest part of the nation's income since 1928 – 19% of it. And the top 10% swept up a tidy 48.2% of all income – as race, education and income continue to polarize the populace.
Mazel Tov: Israel has a choke-hold agreement that requires NSA provide, from its nearly unlimited collection of collectionsl “intercepted communications likely to contain phone calls and emails of American citizens.” AIPAC has to have some way to monitor the herd.
Science Silenced: The religious right in Texas – which is way, way over there – intends to eliminate any high school biology text that doesn't refute Darwinian science and replace it with “creation science based on Biblical” authority. Kathy Miller, president of the Texas Freedom Network, fears this will turn Texas into a “laughingstock”. Too late.
The Parting Shot: