SAR #10057

What do we do when this doesn't work out?

Snow Jobs:  Weekly initial unemployment claims swept up to 496,000 – 36,000 higher than expected.  This is the highest level since November. Some are inclined to blame it on the snow.

Just Say 'No!'  Now Obama is going to reform health care by taxing worker's health benefits and giving the money – hundreds of billions – to the private, for profit health care industry.  And this is way better than what the Republicans want to do to you.  Change is not to be mistaken for progress.

Tarnished Silver Lining:  Orders for durable goods grew 3% in January, twice the rate expected.  But excluding the transportation sector, they fell an unanticipated 0.6%, the biggest decrease since last August.

Asked and Answered: Congressman Frank: “Do you think there is any realistic prospect of America’s defaulting on its debt in the near future?” Chairman Bernanke: “Not unless Congress decides not to pay.”

Watch & Learn:  Moody's has joined S&P in warning Greece that if it does not drastically reduce its budget deficits by cutting social services, public payrolls and pension costs,  it will suffer a multi-step cut in its bond ratings, making the bankers ever richer at the country's expense.  Of course this sort of banker blackmail would never work in the USA.

Box of Chocolates:  People is now defined to include corporations. Money is speech.  And Toyota is us.

Show Me The Green:  In planning for the new energy regime, the main constraint to consider is how much power at 20 cents a kwh will the economy be able to afford, not how much it would take to replace today's use.  Today's level of use is not sustainable at the prices alternative fuels will demand.  Wind, solar and ethanol have much higher costs than fossil fuels.  How much we'll need will depend on how much we'll be able to afford.

Saying:  Lead, follow or get out of the way.  Housing is a leading indicator – way down.  Employment is a lagging indicator – way down.  Stand back.

Scary Story:  Asian emerging markets no longer need to depend on the kindness of Western markets – they are recovering quite nicely trading with each other, the selfish brats.

Three Card Monte:  In oil availability, don't get fooled into watching for peak oil and don't sweat production figures too much.  But watch the net exports from the big producers – because we're going to have to get by on their leftovers, after the home folks fill up their cars.

Time and Again: Equipment financing was down 24% over January 2009 – which was pretty much the bottom.  The downturn reflects a lack of demand for financing, not a lack of financing.  If you don't think they're oing to come, you don't build it.  Or buy the equipment.

What Part of No Don't You Understand?  Being China's chief climate change negotiator is as challenging as being Lady Godiva's tailor – the world's biggest carbon polluter has no intention of cutting its greenhouse gas emissions any time soon, so all Su Wei has to do is say “No.”

Porn O'Graph: Here buyer, buyer , buyer.. c'mere buyer.