Saturday, December 24, 2011

SAR #11358

Eventually we must face the necessary consequences of our sins.

Object Lesson: Deal or no deal, for two months or a year, doesn't matter to some 32,000 long term unemployed workers in Michigan and Minnesota wno will lose their benefits because their state's 3-year “lookback” for qualification no longer qualifies for the 20 extra weeks of benefits. Switching all states to a 4-year lookback in order to keep most people eligible for extended benefits would add about 2% to the $44 billion cost of the program. That was rejected by the Republicans on the grounds that the unemployed were enjoying their time off too much.

The New Normal: 2011 has been the worst year for sales of new houses since 1963 - at 315,00, about half the number economists say would be normal. But people gotta live somewhere, so apartment construction is growing rapidly.

Chagrin: Of all the crystal-balling about what happens in 60 days when the extended unemployment benefit can comes up for kicking again, the most likely scenario is a round of “lets screw the workers and shut down the government” by the Tea Party Republicans who think their leadership gave away too much, too early this time around.

Point of View: "the only way the [American financial/banking] system could have been saved would be by letting it fail in 2008. Now, we are sorry to say, it is too late."

Christmas Preyers: That's it for now, I've gotta go to the mall and kill someone over a pair of sneakers.  Merry Christmas.

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