For the last five years, the country and most of its citizens have gotten progressively poorer. Not so for our masters (and their cronies). From Zerohedge (with my emboldening) It will, or should, come as no surprise that as a… Read More »It’s Not Because They Are Smarter Than The Rest Of Us
For what it is worth, Dick Morris is forecasting a Republican landslide in the Senate: If the Republicans win these all – as I think they well might – they would end up with control of the Senate by 57-43,… Read More »Politics Controls the Speed at Which We Go Over The Cliff
Now that the pesky little Greek problem has been solved, we can move on to more important matters. What? There are people who feel there has been no solution? Bob Chapman is one who believes that nothing has been solved in… Read More »The Final Nail In The Economic Coffin
Wolf Richter www.testosteronepit.com:
Congress is the ideal American institution: it spends far more than it takes in and borrows the difference. We love that. To heck with the future. It means free money, services, wars, and other goodies. At least some of us get to profit from it. And then we blow it or invest it, and lose it or make money on it. It all adds up to that glorious GDP. It’s the American dream.
Lawmakers are so efficient at it that 36% of every dollar in the budget has to be borrowed…. Oh wait. They don’t do budgets anymore. They’re uncool. They do continuing resolutions. Given this bottomless largesse, mathematically speaking, it’s logical that Congress would have sky-high approval rating. Wait…. Oh no!
Only 11% of the people approve of the Herculean job lawmakers are doing, according to Gallup, which has a knack for peeking at our innermost feelings. It’s the lowest score since Gallup started tracking it in 1974.
How can that be? Didn’t we just learn that it’s a virtuous activity for lawmakers to give out privileged information on pending legislation? Profiting from opportunity is an American principle we cherish. So, a few hedge funds were given tradable information about compromises in the healthcare law just before the announcement on December 8, 2009. According to the Wall Street Journal:
They belong to a select group who pay for early, firsthandRead More »Our Amazing Congress