- Obama Stimulus Made Economic Crisis Worse, `Black Swan’ Author Taleb Says:
“Obama did exactly the opposite of what should have been done,” Taleb said yesterday in Montreal in a speech as part of Canada’s Salon Speakers series. “He surrounded himself with people who exacerbated the problem. You have a person who has cancer and instead of removing the cancer, you give him tranquilizers. When you give tranquilizers to a cancer patient, they feel better but the cancer gets worse.” Note how many of ObaMao’s Genius Corps (Corpse, if you say it like ObaMao) are jumping ship lately…or are they walking the plank?
- U.S. Is Bankrupt and We Don’t Even Know It:
Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills. This isn’t correct. WE know it, but our leaders are taking the Scarlett O’Hara approach: “I can’t think about that right now. If I do, I’ll go crazy. I’ll think about that tomorrow.”
- ObaMao Underwrites Offshore Drilling…for Brazil!
The U.S. is going to lend billions of dollars to Brazil’s state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil’s Tupi oil field in the Santos Basin near Rio de Janeiro. I guess he hasn’t heard that we’re BANKRUPT. All we hear is that the state “can’t afford” to extend tax cuts. Cutting spending as part of the solution doesn’t even occur to them. Even for programs that will not in ANY way benefit Americans. Remember this when they come to suck more blood from your veins after the election.
- Regulators shut banks in Florida, Washington state
Regulators on Friday shut down small banks in Florida and Washington state, bringing to 127 the number of U.S. bank failures this year on a wave of loan defaults and economic distress.
Quote of the Day
"The most dangerous man to any government is the man who is able to think things out for himself, without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, and intolerable"
-– H.L. Mencken