Archive for 2011

IN GREECE, A SILENT BANK RUN: “I’ve been working in a bank for 31 years, and I’ve never seen a panic like this.”

SO DOES THIS MAKE TAR-AND-FEATHER FUTURES A “BUY?” Today In Petty Tyranny.

TRANSPARENCY IS FOR THE LITTLE PEOPLE: California Assembly refuses to make public its members’ budgets. “The California Assembly says the public has no right to see lawmakers’ current office budgets and spending projections, documents that could show whether punishment is doled out for key votes.” Shut up and pay your taxes, worms.

HOW BAD IS THE ECONOMY? Even tooth-fairy payouts are shrinking. “A recent survey found that the national going rate has seen a 40-cent decline this year: From $3 to $2.60. What’s worse? A full 10% of kids are reaching under their pillows … and coming up empty. Compare that to last year when just 6% of kids found no reason to flash that toothless grin.”

UPDATE: Chuck Simmins writes with another indicator:

I spent a few hours on my birthday, Sunday, at the Finger Lakes Racetrack and casino. I’ve been going there 2-3 times a year for a few years now.

In what may be a true comment on the economy, the number of 1 cent video slots was overwhelming. It was almost difficult to find a quarter slot. Two years ago, the penny slots took up one tiny section of the floor. Sunday they were everywhere. Gotta wonder.

That doesn’t sound good.

RECOVERY BUMMER (CONT’D): Stocks now down for year as economic concerns grow. Dow back well below 12,000. “Four stocks fell for every one that rose on the New York Stock Exchange. Volume was higher than average at 5.3 billion shares.”

COLLAPSE: “As President Obama’s approval drops to 40 percent and independents are fleeing him in droves, as the economy continues to stagger and comparisons to the failed presidency of Jimmy Carter are increasingly being made by Democrats, it’s worth recalling the almost cult-like reverence Obama inspired after his election.”

HAS AMERICA REACHED A TEA PARTY TIPPING POINT? “Yes, there is a long, long way to go. But the idea that America doesn’t, in fact, have to be governed for eternity as a debtor nation with a mammoth, out-of-control, ever-expanding government is winning the day. It is tipping the balance with increasing decisiveness against an idea that has become so much a part of conventional wisdom that even some conservatives, startlingly including, inexplicably, the Wall Street Journal, have displayed the wobblies at the thought of confronting the Leviathan.”

He’s also right to note the role played by Mark Levin’s Liberty And Tyranny.

UPDATE: Don’t get cocky. Always good advice!

TIMOTHY DALRYMPLE: Whom Would Jesus Indebt? “It is immoral to ignore the needs of the least of these. But it’s also immoral to ’serve’ the poor in ways that only make more people poor, and trap them in poverty longer. And it’s immoral to amass a mountain of debt that we will pass on to later generations. I even believe it’s immoral to feed the government’s spending addiction. Since our political elites have demonstrated such remarkably poor stewardship over our common resources, it would be foolish and wrong to give them more resources to waste. . . . The religious left has monopolized the language of morality and justice when it comes to matters of government spending. If we should ask, ‘What would Jesus cut?’, then we should also ask ‘Whom would Jesus indebt?’ and ‘Whom would Jesus make dependent on government?’ Since the poor are the first ones hurt by a damaged economy and low unemployment, there is a deeply moral case to be made for serving ‘the least of these’ through policies that promote a flourishing economy and culture.” Amen.