Greenspan and Other Problems
Is this guy for real? Former Fed Chairman Alan Greenspan said the U.S. could face a bond-market crisis if politicians don't act soon to start cutting the nation's debt. He makes easy money available to the government for years, bows out as "The Maestro," and now comes back and preaches fiscal restraint. Unbelievable. I'm beginning to think he might be the most evil man since Stalin or the most duplicitous man since . . . Stalin. * * * * * * * A nut shoots a member of Congress. Very sad, very disturbing. But there's no doubt that the guy is a nut, apparently of the Aryan-Nation sort with a penchant for precious metals. Link. So what does the ever-oh-so-reliable Washington Post do? It paints it as a Tea Party moment. Check out this incredible Wapo piece. I don't know whether I'm more disgusted with the shooter or with WaPo for using it as part of its relentless support of the Democratic Party. Even more disgusting: WaPo isn't even brave enough to politicize the outrage on their own behalf. Maybe they'll write an editorial later, but for now, they politicize the tragedy by quoting others and letting them do the dirty work:
[C]ommenters said the attack confirmed their image of the United States as a deeply polarized nation brimming with angry rhetoric and gun nuts. . . .
Fidel Castro in his latest "Reflections" column branded the attack "an atrocious act," and told his readers that Giffords "who was shot in the head, was in the sights of the ultraconservative movement Tea Party." . . .
[E]ven the conservative Telegraph describing the incident as "exposing" America's troubling political divide. They noted that leading tea party figures have "flirted with violent imagery in their rhetoric," citing a quote from Palin: "Don't retreat - reload." . . .
Historians and economists differ about the causes of the Great Depression, but pretty much all of them agree: The Smoot-Hawley Tariff contributed greatly. It's kinda scary, considering what's happening now. You might remember this quote from the 9/30/10 TDE: “This currency race to the bottom effectively constitutes 'Smoot-Hawley Redux.' Aren't governments now using currencies doing the same thing as the infamous tariff passed in 1929, which contributed greatly to the Great Depression?” Having entered 2011, the currency wars aren't getting any better: "If the world's shell-shocked investors thought that 2011 might see an outbreak of peace in the currency wars, they were sadly mistaken. Not only did Brazil last week take more action to stem the rise in the real but Chile, one of the most free-market of emerging economies, has also unveiled a campaign of intervention against its currency." Link. * * * * * * * Funny late night: "The new Congress adopted a rule that permits members to use electronic devices on the floor of the House. So let the sexting begin." (Kimmel) "January is the month that people are most likely to be fired – especially if you're an elf." (Leno) "They've had birds falling out of the sky all over the world. Today I saw my parakeet reading the obituaries." (Letterman)
