SAR #9314

Remember, the economy does not need you anymore.

Charades: The only way to guarantee healthcare is to guarantee healthcare to all: single payer, public option. Anything else is just a gift to the health insurance industry.

Barn Door: Defaults on mortgages guaranteed by the FHA are running at 24% for the 2007 vintage and 20% for the 2008 vintage. The FHA insures about half of all US mortgages, so these numbers suggest that at least 12% of US mortgages written in 2007/8 are defaulting. Never fear, for the FHA has recdntly raised its standards.

Asked and Answered: The clever folks in Washington have extended and expanded the Home Purchase Tax Credit. Is this wise? No, but it'll make the game last a little longer.

Treasure Hunt: In the best of all possible worlds, the US needs to find $15 trillion in extra income just to pay off our debt. I've checked under the sofa cushions and it's not there. Best guess: It won't be the best of all possible worlds. It is simply a question of how much pain, how soon, for how long.

Bait and Switch: Chrysler, which used its Fiat divisions electric car development program as part of its plea for the $12.5 billion in federal aid, has abolished the development team and dropped its targets for the production of battery-powered cars.

Beggar Thy Neighbor: The US put $2.6 billion in “anti-dumping duties” on Chinese steel, following last month's 35% tariff on Chinese tires. China opposes such protectionist measures and promised to enact some of its own. Quacks like one, too.

Quoted: "At the highest level this bill will enshrine in law the monopolistic powers of the private health insurance industry. There's no other way to look at it." Congressman Eric Massa (D-NY)

Sounds Good To Me: “The IRS should disallow tax deductions for unreasonable compensation paid by publicly held corporations.”

Mooted: “ Legal advisers had decided that under the United Nations convention against torture, it is not illegal to obtain or use intelligence gained from torture as long as we didn't do the torture ourselves.“

Transliteration: China has offered various African countries a total of $10 billion over the next three years, saying China was a ‘true and trusted friend‘ of the continent and its people. How do you say “Trojan Horse” in Chinese?

Cleaning Up: "Every serious discussion of the environment ... is ultimately about oil. [Our] whole way of life is dependent on cheap oil. Sooner or later, cheap oil will be over. Then what?”