Archive for 2009

WHILE PEOPLE COMPLAIN ABOUT “COWBOY STYLE AMERICAN CAPITALISM,” Europe looks worse.

A FREE BOOK ON Free Range Kids. “Over the past 30 years activities that previous generations of children enjoyed without a second thought have been relabelled as troubling or dangerous, and the adults who permit them branded as irresponsible. No Fear argues that childhood is being undermined by the growth of risk aversion and its intrusion into every aspect of children’s lives.” Yes, when The Dangerous Book for Boys is seen by some as actually dangerous, it’s time for a response.

CORPORATE JUNKETS BAD, CONGRESSIONAL JUNKETS GOOD!

But as they fume over inflated salaries and lavish travel by executives whose companies are on the federal dole, members of Congress are getting a raise, and making travel plans. . . . Lobbyists may not directly pay for lawmakers’ travel and meals, under recently strengthened Congressional ethics rules. So instead, corporations contribute to tax-exempt groups — and those groups pay for lawmakers to attend events.

So that’s completely different, then.

PERRY DE HAVILLAND: It’s the Credit Bubble, Stupid. “But to the entire political looter class, and I mean not just the elite elements but also including the millions and millions of people who took loans they could not repay and voted for the people whose regulations provided the perverse incentives for banks to loan money to them, the important things was to… keep lending. And this, boys and girls, is what we call a Credit Bubble. And why do we call it a bubble? Because when loans are given out at a rate greater than actual economic growth can support, the amount of loans (assets) that go bad increases because the increased lending was not supported by an increased ability to pay the loans back… and when that fact becomes clear, people with money suddenly stop lending… the ‘bubble’ bursts.”

POLITICO: Burris under an ethical cloud. “Illinois state House Republicans are calling on Burris to resign; he’s facing a possible perjury investigation in his home state; and his Senate colleagues may face new pressure to launch an ethics committee probe to determine whether he should be expelled from the body. So far, Democratic leaders in Illinois and Washington have offered little public support, and the new state governor, Pat Quinn, has called on Burris to more fully explain himself.”

NOW THEY TELL US: White House Dampens Stimulus Expectations. No surprise: As was obvious to anyone who was paying attention, it was always about paying off special interests, not helping the economy.