Archive for 2011

NASHVILLE: The next boomtown of the New South? I wouldn’t get too excited about that commuter rail line, which has been pretty much of a bust.

“THE GUYS AT ENRON NEVER WOULD HAVE DONE THIS:” Bill Gates on states’ accounting flimflams. “The Microsoft co-founder and philanthropist said state budgets have received a puzzling lack of scrutiny and have been ‘riddled with gimmicks’ aimed at deferring or disguising the true costs of public employees’ health care and pension obligations, citing California’s ongoing budget crisis as an example of creative deficit spending and the subsequent cuts to education spending as an unacceptable cost.”

Related: Economists: State, local pension funds understate shortfall by $1.5 trillion or more. So will any of these flimflammers get to share a cell with a guy named “Spike?” Or is that just for business people that politicians don’t like?

LOU DOLINAR: THE CASE OF THE DEADLY DOLPHINS. “Cold weather, not oil, seems responsible for the recent spate of baby-dolphin deaths along the Gulf coast, according to researchers at the Dauphin Island Sea Lab . . . Melting snow — a rarity for the state — was behind the water temperature drop.”

HOUSE DEMOCRAT: We know how to get around earmark ban. “A House Democrat indicated Thursday that lawmakers are getting around the new ban on earmarks by convincing Obama administration officials to fund their pet projects. Rep. Jim Moran (D-Va.), an appropriator, made the remarks during an appearance on C-SPAN’s ‘Washington Journal’ program.”

DAN MITCHELL: Guess Who Profits From Inflation?

My take: Inflation benefits debtors. The world’s biggest debtor is the U.S. government. The U.S. government also controls the money supply for the world’s reserve currency . . . .

HIGHER EDUCATION BUBBLE UPDATE: Public Universities Seek More Autonomy as Financing From States Shrinks. “The public universities say that with less money from state coffers, they cannot afford the complicated web of state regulations governing areas like procurement and building, and that they need more flexibility to compete with private institutions.”

THE LOAN ARRANGER. “No wonder this is do or die for the public sector unions. It is another f*n economic bubble.”

HOMELAND SECURITY DENIES “BIZARRE INTERNET-FUELED RUMORS,” then admits they’re true. Clown show. But without the laughs.