Friday, April 29, 2011

Relax, It's the Weekend!, Summer 2011

I'm perfectly comfortable, thank you for asking:

Thursday, April 28, 2011

Sub Today at NoBullU on WEBY

Usually on Thursdays you can listen to me, the voice of wisdom and reason in a wilderness of partisan rhetoric -- no political insanity, no conservative hypocrisy, no liberal foolishness -- just straight talk, straight at you, and that’s no bull!!

But I was hosted off, for a good cause. I'll be back in May to deprogram you.

Wednesday, April 27, 2011

Republi-CONs, and Their Mutually Beneficial Relationship With Their Corporate Overlords

Here are two local state examples:

A Fl Senate Republi-con helps billboard advertising corporate overlords save millions, read St. Petersburg Times, Bill would make it easier for billboard companies to cut down trees, and

A FL House Republi-con (whose father is a Fl Senate Republi-con) help bail bond corporate overlords earn millions, read the Northwest Daily News, Okaloosa officials, Rep. Matt Gaetz argue over pre-trial release bill.

Republi-con, always ready to serve their corporate overlords!

Tuesday, April 26, 2011

A Little Good News for a Change

Opting for the 2012 Sidelines

"[H]alf-dozen top Republicans . . . have considered — and rejected — a challenge to President Obama next year." Why? Read The New York Times, Why Republicans May Be Skipping 2012 Presidential Run.

Monday, April 25, 2011

Those Not-So-Good-Old Days

For those who pine for 18th-century America, read about “Benjamin Franklin’s sister and [her] path to poverty” at The New York Times, Poor Jane’s Almanac.

Happy 400th Birthday to the King James Bible

UPDATE II: "The great achievement of the King James translators is to have arrived at a language that is both ordinary and heightened, that rings in the ear and lingers in the mind. And that all 54 of them were able to agree on every phrase, every comma, without sounding as gassy and evasive as the Financial Crisis Inquiry Commission, is little short of amazing, in itself proof of something like divine inspiration." Read The New York Times, Why the King James Bible Endures.

UPDATE: "[O]ur language and culture are incomplete without a 400-year-old book—the King James translation of the Bible. Spurned by the Establishment, it really represents a triumph for rebellion and dissent." Read Vanity Fair, When the King Saved God.

"It’s barely possible to overstate the significance of the King James Version of the Bible." Read The New York Times, The King James Bible at 400.

Thursday, April 21, 2011

Sub Today at NoBullU on WEBY

Usually on Thursdays you can listen to me, the voice of wisdom and reason in a wilderness of partisan rhetoric -- no political insanity, no conservative hypocrisy, no liberal foolishness -- just straight talk, straight at you, and that’s no bull!!

But I was hosted off, for a good cause. I'll be back in May to deprogram you.

Wednesday, April 20, 2011

How Much Do You Know About Golf

If you select the correct answer, the ball goes directly in the hole - a hole in one. If you select a wrong answer, the ball moves only so far down the fairway and stops.... and you are charged with one stroke. Try again, until you select the right answer and the ball goes in the hole.

Take the Golf Trivia Quiz.

Tuesday, April 19, 2011

Men are like . . .

From an email:

1. Men are like laxatives, they irritate the crap out of you.

2 Men are like bananas, the older they get, the less firm they are.

3. Men are like weather, nothing can be done to change them.

4. Men are like blenders, you need one, but you're not quite sure why.

5. Men are like chocolate bars, sweet, smooth, & they usually head right for your hips.

6. Men are like commercials, you can't believe a word they say.

7. Men are like department stores, their clothes are always 1/2 off!

8. Men are like government bonds, they take soooooooo long to mature.

9. Men are like mascara, they usually run at the first sign of emotion.

10. Men are like popcorn, they satisfy you, but only for a little while.

11. Men are like lava lamps, fun to look at, but not very bright.

12. Men are like parking spots, all the good ones are taken, the rest are handicapped.

Friday, April 15, 2011

Cats Are So Dramatic!

Republi-CONs Con the Tea Party, Cont.

UPDATE IV: Those Republi-con budget cuts were all smoke and mirrors, and slick accounting gimmickry (a gimmick is a "device employed to cheat, deceive, or trick"). Read the Washington Post, Budget deal: CBO analysis shows initial spending cuts less than expected, which begins:

"A federal budget compromise that was hailed as historic for proposing to cut about $38 billion would reduce federal spending by only $352 million this fiscal year, less than 1 percent of the bill’s advertised amount, according to the Congressional Budget Office."

UPDATE III: "Without more revenue, there is no hope of tackling the federal budget deficit." Read The New York Times, Budget Battles: Tax and Spending Myths and Realities, which begins by noting that the "House Republicans’ budget plan . . . [would] cut spending on government programs over the next decade by $4.3 trillion . . . [but also] cut tax revenues over the same period by $4.2 trillion."

UPDATE II: For more 'pretending' about the deficits icing on the Republi-con balanced budget cake, note that even the Republi-con hyped 'Ryan budget' would be unconstitutional under the Republi-con proposed Balanced Budget Amendment. Read the Washington Post, The Balanced Budget Amendment vs. the Ryan budget.

Time to call the Republi-con bluff!

UPDATE: Want more proof that the Republi-cons are just 'pretending' about deficits and balancing the budget. Even Paul "Ryan’s Roadmap — a draconian but detailed plan to partially privatize Social Security, voucherize Medicare, block grant Medicaid, and eliminate the Children’s Health Insurance Program — would not meet the 18% of GDP spending cap for more than half a century. " Read the Washington Post, The Worst Idea in Washington, part IV.

The latest Republi-con con, a Balanced Budget Amendment. "It’s so unrealistic that it would’ve ruled all but two of the last 30 years unconstitutional, which means it’s so unrealistic that there has not yet been a Republican president who has proven it can be done. And that doesn’t just suggest it can’t be done: It suggests that when Republicans are actually in power and have control of the budget, they know perfectly well that it shouldn’t be done. They’re just pretending otherwise for the moment." Read the Washington Post, The worst idea in Washington.

The Republi-CON Double Dip Recession, Not a New Ice Cream, But It'll Make You Scream

UPDATE VII: "It is said that only a fool learns from his own mistakes, a wise man from the mistakes of others."

Read The New York Times, Pain of British Fiscal Cuts Could Inform U.S. Debate, which finds:

"A year into Britain’s controversial austerity plan, retail sales have had the sharpest monthly plunge in 15 years and real household income is expected to fall 2 percent this year."

UPDATE VI: "[S]lashing spending in the face of high unemployment is a mistake. Austerity advocates predicted that spending cuts would bring quick dividends in the form of rising confidence, and that there would be few, if any, adverse effects on growth and jobs; but they were wrong. . .

Which brings me back to what passes for budget debate in Washington these days.

A serious fiscal plan for America would address the long-run drivers of spending, above all health care costs, and it would almost certainly include some kind of tax increase. But we’re not serious: any talk of using Medicare funds effectively is met with shrieks of “death panels,” and the official G.O.P. position — barely challenged by Democrats — appears to be that nobody should ever pay higher taxes. Instead, all the talk is about short-run spending cuts.

In short, we have a political climate in which self-styled deficit hawks want to punish the unemployed even as they oppose any action that would address our long-run budget problems. And here’s what we know from experience abroad: The confidence fairy won’t save us from the consequences of our folly. "

Read The New York Times, The Austerity Delusion.

UPDATE V: What if "fiscal issues are just an excuse for ideologically driven policies to lower taxes on well-off people and business while reducing government programs." Read the Washington Post, What if we’re not broke?

UPDATE IV: Higher oil prices and "the GOP’s willingness to shut down the government or default on the debt if Democrats don’t sign onto harsh spending cuts that will reduce growth and employment through the rest of 2011." The Republi-con formula for a double dip recession. Read the Washington Post, Will we kill the recovery?

And is it part of the Republi-con 2012 election strategy?

UPDATE III: "It really is worth repeating: no matter how much the right-wingers may like to claim that the US government is “broke”, it’s not, in any normal sense of the term." Read The New York Times, Unbroke America.

UPDATE II: More on that planned Republi-con double dip recession.

"Though we finally seem to be climbing out of a very deep hole, many people on the political right want to send us sliding right back down again." Read The New York Times, How to Kill a Recovery.

And an "[i]ndependent economic analysts, including from the investment firm Goldman Sachs - hardly known for liberal or bleeding-heart tendencies - have concluded that the $61 billion in current-year budget cuts being demanded by House Republicans will shave up to two percentage points off the nation's growth rate and cause the loss of more than half a million jobs." Read Moody's Analytics, A Federal Shutdown Could Derail the Recovery.

UPDATE: "A Republican plan to sharply cut federal spending this year would destroy 700,000 jobs through 2012, according to an independent economic analysis." Read the Washington Post, GOP spending plan would cost 700,000 jobs, new report says.

"[N]o matter how morally satisfying austerity may be, it’s the wrong answer. Hoover’s austere instincts worsened the Depression. Roosevelt’s postelection reversal helped, but he also prolonged the Depression by raising taxes and cutting spending in 1937. Only the giant stimulus program known as World War II finally ended the Depression. When the private sector is hesitant to spend, the government has to — or no one will."Read The New York Times, Why Budget Cuts Don’t Bring Prosperity, which includes this informative graph:

And if you forgotten, read about "The Great British austerity experiment," which will result in years of "unnecessarily slower growth and higher unemployment."

"The takeaway lesson should be 'austerity does not work; don't go there.' Unfortunately, in the land of faith-based economics, evidence does not count for much. The UK may pursue a disastrous austerity path and those of us in the United States may still have to follow the same road anyhow. But we opponents of that course all appreciate the willingness of the UK to demonstrate the foolishness of this action."

Thursday, April 14, 2011

Sub Today at NoBullU on WEBY

Usually on Thursdays you can listen to me, the voice of wisdom and reason in a wilderness of partisan rhetoric -- no political insanity, no conservative hypocrisy, no liberal foolishness -- just straight talk, straight at you, and that’s no bull!!

But I was hosted off, for a good cause. I'll be back in May to deprogram you.

The Religious "Fear, Anger, and Hatred" Industry

Without theological rigidity "you don't need the church" and the big business of religion goes bust. Read Time, Is Hell Dead?

Can You Say Sucker

UPDATE XV: The latest:

"A voluminous report on the financial crisis by the United States Senate — citing internal documents and private communications of bank executives, regulators, credit ratings agencies and investors — describes business practices that were rife with conflicts during the mortgage mania and reckless activities that were ignored inside the banks and among their federal regulators.

The 650-page report, 'Wall Street and the Financial Crisis: Anatomy of a Financial Collapse,' was released Wednesday by the Senate Permanent Subcommittee on Investigations, whose co-chairmen are Carl Levin, a Michigan Democrat, and Tom Coburn, a Republican of Oklahoma. The result of two years’ work, the report focuses on an array of institutions with central roles in the mortgage crisis: Washington Mutual, an aggressive mortgage lender that collapsed in 2008; the Office of Thrift Supervision, a regulator; the credit ratings agencies Standard & Poor’s and Moody’s Investors Service; and the investment banks Goldman Sachs and Deutsche Bank.

'The report pulls back the curtain on shoddy, risky, deceptive practices on the part of a lot of major financial institutions,' Mr. Levin said in an interview. 'The overwhelming evidence is that those institutions deceived their clients and deceived the public, and they were aided and abetted by deferential regulators and credit ratings agencies who had conflicts of interest.'"

Read The New York Times, Naming Culprits in the Financial Crisis.

UPDATE XIV: As I've said for almost two years now, Goldman Sachs "played a central role in the creation and sale of risky mortgage securities. The report says that Goldman provided billions of dollars in loans to lenders. "Most went to subprime lenders," the report says, adding that Goldman bought $53 billion of subprime loans from these lenders and sold them to investors around the world.

At the same time, Goldman was involved in financial engineering that magnified the bust-allowing investors not only to invest in real mortgages but to speculate on whether other people's mortgages would go up or down. And the bank often bet against investments it created and sold to others. . .

Even as the financial system's problems intensified, the report says, Goldman beat down on one of the most at-risk firms, American International Group, because Goldman was on the line for $14 billion if AIG were to fail. And Goldman pushed AIG to pay it more money than the other banks that did business with AIG were asking for."

Read the Washington Post, Government blames both regulators and financial institutions for economic collapse.

UPDATE XIII: Not only did the taxpayers bailout Government Sacks and the other Banksters, they also got get out of jail free cards. Read The New York Times, In U.S. Bailout of A.I.G., Forgiveness for Big Banks.

UPDATE XII: Goldman Sachs is a criminal racket and should be prosecuted under RICO statutes. Read The New York Times, Banks Bet Greece Defaults on Debt They Helped Hide, which describes how "[b]ets by some of the same banks that helped Greece shroud its mounting debts may actually now be pushing the nation closer to the brink of financial ruin."

BTW, RICO stands for Racketeer Influenced and Corrupt Organizations, which I think pretty much describes Goldman Sachs.

UPDATE XI: For more on the Goldman skulduggery, read The New York Times, Testy Conflict With Goldman Helped Push A.I.G. to Edge.

You might also read The New York Times, Moving the Deck Chairs, which reviews a book with harsh words for the government's approach to the economic crisis -- “because of the choices that have already been made, not only will the downturn be far longer and deeper than necessary, but also we will emerge from the crisis with a much larger legacy of debt, with a financial system that is less competitive, less efficient and more vulnerable to another crisis. [Instead,] the government should have played by the rules of capitalism and forced a financial reorganization” — conservatorships or the like that would have put the burden of mismanagement and malfeasance on shareholders, managements and bondholders, not the taxpayers.”

UPDATE X: Time for prosecutions, and they should start with the three inseparable friends -- Geithner, Paulson, and Friedman -- who live by the motto "all for Government Sacks, and screw the taxpayers." Read The New York Times, Two at Fed Had Doubts Over Payout by A.I.G.

UPDATE IX: The Banksters had inside help. Read Bloomberg, Geithner’s Fed Told AIG to Limit Swaps Disclosure.

Honestly, does this surprise anyone?

There needs to be a thorough investigation.

UPDATE VIII: For another article chronicling how the Banksters made foobs of us all, read The New York Times, Banks Bundled Bad Debt, Bet Against It and Won.

UPDATE VII: In the AIG bailout, why did the government pay full face value for nearly worthless contracts? To save Government Sacks from huge losses.

Read The New York Times, Audit Faults New York Fed in A.I.G. Bailout and Reuters, Goldman Was Exposed to AIG Losses: Government Report.

Don't forget that Bush's Treasury Secretary Henry M. Paulson Jr. was the former CEO of Government Sacks (GS).

And during the bailouts, Stephen Friedman, who was chairman of the board of the Federal Reserve Bank of New York, sat on the Board of Directors of GS, owned a lot of GS stock, and as a federal reserve official, helped GS receive speedy approval to become a bank holding company in September to qualify for a $10 billion capital injection soon after. Then, in December and January, he purchased more GS stock.

UPDATE VI: Thank god we saved Government Sacks and the other Banksters:

UPDATE V: Read The New York Times, Paulson’s Calls to Goldman Tested Ethics.

Paulson should be prosecuted for criminal conflict of interest and put in jail, and Goldman Sachs should be declared an instrumentality of and/or proceeds of a crime, and confiscated and sold off.

UPDATE IV: Sad but true:

UPDATE III: Can you say stupid sucker? Read The New York Times, Bankers Reaped Lavish Bonuses During Bailouts.

The article includes a nice graphic, Big Bank Bonuses, Despite Taxpayer Help, with a list of nine large banks that lost billions last year and received more than $165 billion from the government. These banks then paid over $32 billion in bonuses, with at least 4,793 employees receiving a bonus of at least $1 million.

UPDATE II: How do the Banksters make their money? They have an insider advantage to pick our pockets. Read The New York Times, Stock Traders Find Speed Pays, in Milliseconds, the article includes a nice graphic showing how it is done one penny at a time.

UPDATE: "Goldman is very good at what it does. Unfortunately, what it does is bad for America." (From The New York Times, The Joys of Sachs.)

I couldn't have said it better myself.

Unemployment will likely continue to rise. Read the Washington Post, Obama: Unemployment likely to keep ticking up.

But thank God we saved Government Sachs, where the average salary is $600,000. Read The New York Times, For Goldman, a Swift Return to Lofty Profits.

Bush's Treasury Secretary Henry M. Paulson Jr. the former CEO of Goldman Sachs thanks you.

And Stephen Friedman, former chairman of the board of the Federal Reserve Bank of New York, who also sat on the Board of Directors of GS, owned a lot of GS stock, and as a federal reserve official, helped GS receive speedy approval to become a bank holding company in September and a $10 billion capital injection soon after, then in December and January purchased more GS stock, also wants to thank you.

In fact, all the Banksters want to thank you suckers, and ask that you please not read, The New York Times, Chutzpah on Steroids.

Once a foob, always a foob.

Wednesday, April 13, 2011

Those Fact-Free Republi-CONs

Some halarious examples of Republi-CON created reality:

And here is a follow-up to Kyl's "groundbreaking excuse-planation by tweeting round-the-clock non-facts":

Friday, April 8, 2011

The Everyman For Himself Budget

UPDATE II: "Once you stop listening to all the swooning and read the numbers, the Republican budget proposal looks like more voodoo economics." Read The New York Times, Ludicrous and Cruel.

And for an alternate view, read The New York Times, The Ryan Journey, which notes that "Ryan’s budget plan isn’t perfect, but it’s forcing Americans to confront the reality of their choices and engage in a serious debate."

UPDATE: As a former Bush chief speechwriter and senior policy advisor notes, "H.R. 1 would lead to 70,000 kids dying." Read the Washington Post, The real-world effects of budget cuts.

Was the Ryan budget proposal "built on heaping sacrifice onto the poor, slashing scholarship aid to college students and bestowing benefits on the rich?"

Hardly the self-interest "properly understood" philosophy that made the country great.

Palin Fatigue?

UPDATE II: More speculation that Palin "may have peaked, politically speaking." Read the Washington Post, Sarah Palin’s tipping point.

UPDATE: So long Palin: "The presidential ambitions once harbored by the former Alaska governor are all but dead, with even the Republican base rating her in polls as 'strongly unfavorable.' And if there's one thing to blame for her short-lived national political career, it's television. Read, How TV created, then destroyed, Sarah Palin.

But not just yet: "Let [her and Gingrich] suffer the media attacks so that another Republican can emerge unscathed." Read Forbes, Why The GOP Needs Palin And Gingrich.

Is it time to cry uncle regarding Palin? First Mika:

The Colbert ReportMon - Thurs 11:30pm / 10:30c
Mika Brzezinski Experiences Palin Fatigue
Colbert Report Full EpisodesPolitical Humor & Satire BlogVideo Archive

Now I'm declaring February a Palin-free month. Join me! and This Is Not a Post About Sarah Palin.

Thursday, April 7, 2011

Sub Today at NoBullU on WEBY

Usually on Thursdays you can listen to me, the voice of wisdom and reason in a wilderness of partisan rhetoric -- no political insanity, no conservative hypocrisy, no liberal foolishness -- just straight talk, straight at you, and that’s no bull!!

But I was hosted off, for a good cause. Unfortunately, Mike tells me he's going to replay a show full of birther nonsense. He must be promoting Trump for President. Fortunately, Trump is doing his best to discredit himself. (Read the Washington Post, Trump’s disgusting, dangerous dance with birthers.)

I'll be back in May to deprogram you.

Bye-Bye Bonkers

UPDATE: Race baiting and fringe conspiracy have lost their political panache. Read the Washington Post, Why Glenn Beck lost it.

What will those Republi-cons do to inspire the base for the 2012 election?

Appropriately enough, Entertainment Weekly is reporting that it is official, Bonkers is gone from Hedgehog News.

It is The GlennPocalypse:

The Colbert ReportMon - Thurs 11:30pm / 10:30c
The GlennPocalypse
Colbert Report Full EpisodesPolitical Humor & Satire BlogVideo Archive

I especially like the complaints by other Hedgehog News anchors that Bonkers undermines their credibility.

Childish Insults While the Republic Burns

Why is Congress "threatening to shut down the U.S. government in a dispute over a tiny fraction of the federal budget?" Maybe it is because they are too busy insulting one another. Read the Washington Post, 27% of communication by members of Congress is taunting, professor concludes.

Wednesday, April 6, 2011

Why Is America Great?, Part VII, Self-Interest "Properly Understood"

"Alexis de Tocqueville once described what he saw as a chief part of the peculiar genius of American society—something he called 'self-interest properly understood.' The last two words were the key. Everyone possesses self-interest in a narrow sense: I want what’s good for me right now! Self-interest 'properly understood' is different. It means appreciating that paying attention to everyone else’s self-interest—in other words, the common welfare—is in fact a precondition for one’s own ultimate well-being. Tocqueville was not suggesting that there was anything noble or idealistic about this outlook—in fact, he was suggesting the opposite. It was a mark of American pragmatism. Those canny Americans understood a basic fact: looking out for the other guy isn’t just good for the soul—it’s good for business.

The top 1 percent have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn’t seem to have bought: an understanding that their fate is bound up with how the other 99 percent live. Throughout history, this is something that the top 1 percent eventually do learn. Too late."

Read Vanity Fair, Of the 1%, by the 1%, for the 1%.

Tuesday, April 5, 2011

Help WEBY Stay on the Air!

UPDATE: Final tally for the host off competition between yours-truly and the host-who-can-not-be-named: 465 votes for him, and 250 votes for me. Guess you'll heard from me next in May.

If you enjoy Dave and Mike in the morning, followed by Neal Boortz and Clark Howard, and the 'spirited discussion and debate' of the live, call-in show, Your Turn, every weekday afternoon, help WEBY stay on the air:

From all of the hosts, thank you!

The God of Republi-CONism Flip-Flops

Republi-cons were for the war in Libya, before they were against it, just ask Rusty. Read The Atlantic, For the War Before He Was Against It.

State Republi-Con Fiscal Conservative Hypocrisy, Cont.

UPDATE: In Wisconsin, Republi-con Gov. Scott Walker says that "the state is broke and public employees are overpaid." So what does he do, hire a 20-something year old with "no college degree, very little management experience and two drunken-driving convictions" as the Department of Commerce bureau director of board services, a job that paid $64,728 a year.

Next convert the Department of Commerce to a public-private hybrid and give the young man a pay raise of more than $16,500 a year after only a couple of months with the state.

But this was no 'ordinary' young man, he is the son of an important campaign donor.

Read the Milwaukee Journal Sentinel, No degree, little experience pay off big.

"State employees haven't received a raise in more than four years, but most agency heads that Gov. Rick Scott has appointed are making $20,000 a year more than their predecessors . . .

Asked this week why he was paying most of his secretaries significantly more when state employees haven't been given a raise, Scott did not directly answer the question. Instead he said that state employees are "very hard working people."

'And they clearly are doing a great job for the citizens of our state,' Scott told reporters. 'And I want to make sure I do everything I can to make sure we get the best people and we pay them a fair wage.'"

Read the Florida Tribune, Scott gives agency heads a big bump in their pay.

Monday, April 4, 2011

Guess Who

Who can:

Start the day without caffeine,

Always be cheerful, ignoring aches and pains,

Resist complaining and boring people with your troubles,

Eat the same food every day and be grateful for it,

Understand when your loved ones are too busy to give you any time,

Take criticism and blame without resentment,

Conquer tension without medical help,

Relax without alcohol,

Sleep without the aid of drugs,

The Family Dog:

Friday, April 1, 2011

Bankruptcy by Demographics

UPDATE II: The U.S. government spends $40 billion to $50 billion each year on end-stage kidney disease. Read The New York Times, Asking Kidney Patients to Forgo a Free Lifeline, which highlights one case:

"One patient, a 78-year-old woman whose name is being withheld, was not a good candidate for dialysis, her doctors said. She has complications from diabetes, high blood pressure, a heart valve problem and severe coronary artery disease. Her medical problems were so grave that dialysis was likely to lead to a series of medical interventions — hospital stays, drugs and doctor visits — but would not necessarily prolong her life. And her doctors told her that.

But she insisted on dialysis, saying, 'Some life is better than no life.' In the seven months she has been on dialysis, she has been hospitalized four times, including twice for heart surgery.

'I go to dialysis because I want to live,' she said in a telephone interview. 'I want dialysis.'"

UPDATE: Medicare doesn't cover everything. So how much do you need to save? A lot. Read The New York Times, Getting Old Is Expensive.

Should old people just die younger and quicker? Read the Washington Post, A growth lesson from China, which predicts a pretty bleak future for the U.S.:

"This demographic destiny might entail starving every other sector of society -- including national defense, at great cost to America's international standing. It had better not, given what Fogel argues in another essay, this one in the current issue of Foreign Policy. It carries the headline "$123,000,000,000,000." Fogel's subheadline is: "China's estimated economy by the year 2040. Be warned."

He expects that by 2040 China's GDP will be $123 trillion, or three times the entire world's economic output in 2000. He says China's per capita income will be more than double what is forecast for the European Union. China's 40 percent share of global GDP will be almost triple that of the United States' 14 percent.

Fogel finds many reasons for this, including the increased productivity of the 700 million (55 percent) rural Chinese. But he especially stresses "the enormous investment China is making in education."

While China increasingly invests in its future, America increasingly invests in its past: the elderly. China's ascent to global economic hegemony could be slowed or derailed by unforeseen scarcities or social fissures. America's destiny is demographic, and therefore is inexorable and predictable, which makes the nation's fiscal mismanagement, by both parties, especially shocking."

Tell your kids to learn Chinese.

Thank God We Saved the Banksters, But Why?, Cont.

UPDATE: Where is the anger? Read Mother Jones, Wall Street and the Public, which notes:

"Years ago I remember a lot of moderate liberals talking about how the Bush era radicalized them. For me, it was the economic collapse of 2008 that did it. The financial industry almost literally came within a hair's breadth of destroying the world, but even so it took only a few short months for them to close ranks with Republicans and the rich to prevent anything serious being done to rein them in. Profits are back up, new regulations are barely more than window dressing, nothing was done to help underwater homeowners, bonuses are as obscene as ever, unemployment remains sky high, and the public has somehow been convinced that this was all their own fault — or perhaps the fault of big government, or big deficits, or something. But the finance industry has escaped almost entirely unscathed. It's mind boggling. If this doesn't change your view of who really runs the world, I don't know what would."

Once a foob, always a foob.

The legislation that created TARP, the Emergency Economic Stabilization Act, "prevented a meltdown of the financial system, but failed to meet the legislative goal of protecting home values." Read The New York Times, Where the Bailout Went Wrong.

Florida Republi-CONs Unmasked

From the Pensacola News Journal, Editorial: It's not a crime?:

The editorial is a worthy read.