in all there are 159 such examples in the post. Go take a look, this is going to create a massive increase in federal government jobs and thus spending.Which
perhaps explains why Washington DC is one of the few places in the country where personal income did not drop in 2009. Sara Murray reports at the Wall Street Journal
Personal income in 42 states fell in 2009, the Commerce Department said Thursday.
Nevada's 4.8% plunge was the steepest, as construction and tourism industries took a beating. Also hit hard: Wyoming, where incomes fell 3.9%.
Incomes stayed flat in two states and rose in six and the District of Columbia. West Virginia had the best showing with a 2.1% increase. In Maine, Kentucky and Hawaii, increased government benefits, such as unemployment insurance and Social Security, offset drops in earnings and property values.
When there's economic hardship, the one place you can be sure of having great job security is the federal government. Regular folks suffer, politicians and bureaucrats do better. That's called "economic justice" and "equality" by the left.British
government officials are looking into the Hadley CRU scandal to determine wrongdoing and misuse of funds. However, recently it has been discovered that one of the hens is a fox. Andrew Orlowski reports at The Register
The peer leading the second Climategate enquiry at the University of East Anglia serves as a director of one of the most powerful environmental networks in the world, according to Companies House documents - and has failed to declare it.
Lord Oxburgh, a geologist by training and the former scientific advisor to the Ministry of Defence, was appointed to lead the enquiry into the scientific aspects of the Climategate scandal on Monday. But Oxburgh is also a director of GLOBE, the Global Legislators Organisation for a Balanced Environment.
This is much like having one of Hitler's buddies investigate Nazi Germany for war crimes: he's in on it
. His organization benefits from Hadley CRU's lies, distortion, and doctoring of the data. Its like having members of the Congressional Black Caucus investigate the Congressional Black Caucus for ethical violations. Oh wait...After
a brief rise, home prices are heading downward again
, with prices in 12 major markets falling for five months straight. Economists are calling this a "double dip" since the prices went down, flattened out or rose slightly, then went down again. If you look at past recessions, none of them were a continuous, smooth downward plunge, however: all had dips and rises, but always an overall trend downward until the recovery. Even the recoveries had some downward moments.Social
Security was scheduled to go bankrupt in 2017, and while President Bush and the GOP congress tried to do something about that, they failed and were accused of wanting old people to starve. Now we find that this estimate was... optimistic. Social Security is now paying out more money than its taking in this
year, according to Mary Williams Walsh at the New York Times
. So that's two of the three big spending entitlement programs the federal government created in the 20th century completely collapsing. Lets start a new one! This one will work better, honest.Strategic
Defaults, something I wrote about this week
, are getting so problematic that Bank of America has announced a new policy. The Associated Press reports:
The bank, the largest mortgage servicer in the country, said Wednesday it will forgive up to 30 percent of some customers' total mortgage balance. The homeowners must be at least 60 days delinquent on their loans and owe more than 120 percent of their homes' value.
The plan is part of an agreement the Charlotte, N.C.-based bank reached 18 months ago with state attorneys general to settle charges over high-risk loans made by Countrywide Financial Corp. The loans were made before Bank of America acquired the mortgage lender in mid-2008. Bank of America has since stopped making those loans.
Although the motivation for Bank of America's announcement was to resolve legal problems, it has the potential of setting a precedent for other banks to also start forgiving principal on loans that are in danger of failing.
Basically, the strategy is working, if you bought a home and don't care to pay for it because its not worth as much as you hoped in your investment, well BofA is willing to cut you a deal. Great news for rich people who were flipping homes in a risky investment.Completely
unrelated to the above news, Federal Reserve Chairman Ben S. Bernanke has warned that the government's budget outlook is "somewhat dark"
and that congress needs to work on some way to reduce the deficit and debt. President Obama has a special blue-ribbon panel of hand picked experts looking at how to do this. I'd take bets on whether they'll recommend deep, austerity budget cuts or tax increases but really, who seriously doubts the outcome of that quandary?NASA recently admitted
that despite confident and absolute statements in the past about global warming and the climate, they don't really understand how clouds interact with warming and climate. In fact, they don't know much at all, but they're still really really
certain that humans are causing it and we must all cripple our economies and live like cave men to stop it. Do it for Al Gore. Do it for Matt Damon.Global
Warming is causing flowers to lose their scent, according to a news story out of Asia. AsiaOne news
Latif said UKM (Universiti Kebangsaan Malaysia) might have offered plausible reasons as to why some pollinators were not spreading flower seeds, a pattern caused by the missing "scent trail" with scent tissues burning easily due to global warming.
"The aroma producing chemical compounds in flowers dry up faster now compared with before."
The only way out, he said, was to genetically modify the flowers so that the effects would not be permanent and the future generation would not be robbed of nature's beauty.
"The act is almost like producing essential oils. Scientists add on certain chemicals for stronger scent."
He said scents in flowers last longer in colder climate as plants can hold on to their essential oils longer.
"The flowers may still have strong scents in colder climate. But locally, we fear this might be lost forever."
This article is absolutely certain global warming is not just happening but is certainly causing flowers to lose their scent, and thus pollination is happening less often. The fact that the planet has been cooling
, not warming for more than a decade is not addressed in this article. Very lightly touched on is the possibility that pollution might be a problem, but it is swiftly cast aside for a long discourse on the need for genetically engineering plants to have scents which won't go away when it gets hot. Oddly enough in previous warming periods, plants thrived and prospered more
, not less, but apparently that's irrelevant to this story as well.Obama's
Secretary of Education, who oversaw a fall in quality of education in Chicago while in charge there is now being accused of using his position while in Chicago to aid powerful and rich friends and political donors. Chicago Breaking News
While many Chicago parents took formal routes to land their children in the best schools, the well-connected also sought help through a shadowy appeals system created in recent years under former schools chief Arne Duncan.
Whispers have long swirled that some children get spots in the city's premier schools based on whom their parents know. But a list maintained over several years in Duncan's office and obtained by the Tribune lends further evidence to those charges. Duncan is now secretary of education under President Barack Obama.
The log is a compilation of politicians and influential business people who interceded on behalf of children during Duncan's tenure. It includes 25 aldermen, Mayor Richard Daley's office, House Speaker Michael Madigan, his daughter Illinois Attorney General Lisa Madigan, former White House social secretary Desiree Rogers and former U.S. Sen. Carol Moseley Braun.
In all, three quarters of the list is made up of political allies. Defenders say that the list was kept secret because they would get overwhelmed, but clearly friends and politically useful people were told of the list so they could get hard-to-win positions for their kids in the city's best schools.Non-profit
newspaper San Francisco Public Press has won awards and is famous for digging into scandal, corruption, and governmental malfeasance but now they're getting federal money
from the "stimulus" package. Many are wondering just how independent the newspaper now is and how hard they'll work at anything which might upset the gravy train. I'm wondering why a newspaper is getting federal dollars.Andrew
Breitbart is offering $10,000
to anyone who can provide video or audio proof that congressional black caucus members were called "niggers" while they walked through the tea party rally. Some of the members had cameras and all presumably had cell phones with cameras on them. There were news cameras present as well, but nobody can actually show footage or audio of these alleged shouts
. The Caucus claims it happened fifteen times. So Breitbart is challenging them to show proof, and he's willing to pay for it. I don't expect proof or any sort of legacy media coverage of this to be forthcoming. Nobody seems to be upset that the left continually uses the crude and disgusting term "teabagger" when referring to the tea party rallies.Seattle
Times (now online only after the print version went out of business) is reporting
that a rock was thrown through the window at the Cincinatti offices of Representative Dreihaus (D-OH). The problem with this story is that his office is on the 30th floor. As Glenn Reynolds quips
"the Reds could use a guy with an arm like that." This report is being presented as proof of the dangerous, violent tea partiers and their radical extremist demands that the constitution be obeyed and government stop spending so much money on things we don't need. Meanwhile, Congressman Eric Cantor (R-VI) actually did have someone fire a shot through his office window. Cantor warned
his fellow congressmen against using these events as political weapons. The Democratic leadership condemned tea partiers in response.Iraq's
economy, meanwhile, working on a business-friendly flat tax base, is growing rapidly. The country has gone from shambles and ruin to a GDP equal to that of California, and growing. Farah Stockman at the Boston Globe
Traditional Wall Street investors have taken note. Iraq is now considered a safer bet than Argentina, Venezuela, Pakistan, and Dubai — and is nearly on par with the State of California, according to Bloomberg statistics on credit default swaps, which are considered a raw indicator of default risk.
“Compared to California, I’d rather bet on Iraq,’’ Daher said. “Iraq is a country where there are still bombs going off and people getting murdered, but they are less indebted than the United States. California is likely to have more demands on its resources, and there is no miracle where California is going to have more revenue coming out of the sky. Iraq has prospects for tremendously higher revenues, if they can manage to get their act halfway together, which they seem to be doing.’’
Good for Iraq. The Dinar is looking like a better and better investment.
And that's the Word Around the Net, March 26th, 2010.