Meltdown

[Coopmv]

DM,  They are just buying time.  Providing new loans to Greece to pay off its old debt does not work. 

Euro zone leaders: Greece plan to stabilize euro
Euro zone nations say bailout program for Greece, others will stabilize markets

[Coopmv]

DM,  According to this article, it is looking increasingly likely the Democratic Party will become the minority party after the upcoming November election in both houses of the US Congress.  Recent statistics is looking more and more similar to those observed just before the GOP takeover in 1994

[Coopmv]

DM,  Based on this poll, I think the Dems are toast come November because the voters will not forget.  They may well become the minority party again in the shortest span of time ...


Health Care Plan:
Favor / Oppose

[Coopmv]

DM,   It is bad news for the Dems.  They will pay ...

Florida's unemployment hit 12.2 percent in February, the highest rate on record, soaring past even the rates recorded in the 1973-1975 recession, the state work force agency said Friday.

[Coopmv]

DM,  Nothing seems to work right for CA these days.  Here is another blow to its economy in addition to the housing meltdown ...

Moth forces wine country's secret into the open
Appearance of grape-eating moth in California's premier vineyards brings 'secret' to light

[drogulus]

     It's a typical midterm election, just like 1994. The same thing happened to Bush, too. It's possible that it won't be as bad as some polls indicate. Many voters will notice, for instance, that the Republicans have failed to promise to repeal the "death panels". Uh.....why not?

     It depends largely on 2 factors, the unemployment rate (going down, but too slowly) and the public perception of the Obama health care victory. As the propaganda fades and realities replace it everyone will begin to see where they stand. Will they be able to change jobs without worrying about preexisting conditions? Can the 3 or 4 people with good insurance keep it? Will mean government bureaucrats tell you you can't see your doctor anymore?

      Answers: Yes, Yes, and No. That could mean a smaller than usual midterm swing. Also, remember when Gingrich threatened to shut down the gov't and Clinton called his bluff? All Obama has to do IMO is keep on advancing his rather drearily centrist agenda and wait for the Stupid Party to implode. Maybe they won't, but I wouldn't bet against it. I'll bet this: Dems suffer a net loss of 20 seats in the House, 6 seats in the Senate.

[Coopmv]

     It's a typical midterm election, just like 1994. The same thing happened to Bush, too. It's possible that it won't be as bad as some polls indicate. Many voters will notice, for instance, that the Republicans have failed to promise to repeal the "death panels". Uh.....why not?

     It depends largely on 2 factors, the unemployment rate (going down, but too slowly) and the public perception of the Obama health care victory. As the propaganda fades and realities replace it everyone will begin to see where they stand. Will they be able to change jobs without worrying about preexisting conditions? Can the 3 or 4 people with good insurance keep it? Will mean government bureaucrats tell you you can't see your doctor anymore?

      Answers: Yes, Yes, and No. That could mean a smaller than usual midterm swing. Also, remember when Gingrich threatened to shut down the gov't and Clinton called his bluff? All Obama has to do IMO is keep on advancing his rather drearily centrist agenda and wait for the Stupid Party to implode. Maybe they won't, but I wouldn't bet against it. I'll bet this: Dems suffer a net loss of 20 seats in the House, 6 seats in the Senate.

The independents will determine the outcome of the November election.  Don't forget they were the voters who put the Democrats over the top in the last election.  They pledge no loyalty to either party.  The economy will continue to struggle and I do not see the unemployment rate to drop meaningfully between now and November ...

[karlhenning]

The Treasury Department said Monday it will begin selling the stake it owns in Citigroup Inc., which could result in a profit of more than $8 billion.

Which I suppose means that some phase(s) of the bail-out may in effect turn out to have been investment.

Entire article.

[snyprrr]

Meltdown??,...what meltdown??

Everything is going better than it ever has in all of recorded history. What would I do without such a loving, caring God,...oops!, I meant,... government, seeking only what's best for me. Gosh, who AM I that my government should want to go out of its way to coddle me from cradle to grave without a thought from myself? Oh, how could I have ASKED for such a loving, benevolent government,... I am not worthy of your high ideals, oh thou great god of government,... I am but a worm,... oh, please, make all my decisions for me,... you know so much better than me what to do with me.

I am eternally grateful to My Government, and, most of all to you, Mr. Obama, whoever you are, and wherever you came from. You are truly the Divine Saviour sent to save this sick world. Jesus,... who'sthat?

It's all for you Damien,... it's all for you...

[Coopmv]

Which I suppose means that some phase(s) of the bail-out may in effect turn out to have been investment.

Entire article.

This is just a spin from the government.  In the context of trillion dollars, i.e. 1000 billion dollars of red ink, this $8B of profit is just rounding errors ...   

[Coopmv]

Meltdown??,...what meltdown??

Everything is going better than it ever has in all of recorded history. What would I do without such a loving, caring God,...oops!, I meant,... government, seeking only what's best for me. Gosh, who AM I that my government should want to go out of its way to coddle me from cradle to grave without a thought from myself? Oh, how could I have ASKED for such a loving, benevolent government,... I am not worthy of your high ideals, oh thou great god of government,... I am but a worm,... oh, please, make all my decisions for me,... you know so much better than me what to do with me.

I am eternally grateful to My Government, and, most of all to you, Mr. Obama, whoever you are, and wherever you came from. You are truly the Divine Saviour sent to save this sick world. Jesus,... who'sthat?

It's all for you Damien,... it's all for you...

We should all work for the federal government ...

[karlhenning]

Oh, but we do. We do.

[Coopmv]

Oh, but we do. We do.

On average, every working American works for the government until mid May ...

[Scarpia]

On average, every working American works for the government until mid May ...

And the government works for us all year!

[Coopmv]

And the government works for us all year!

I find this hard to believe.  I have NEVER worked on any government jobs all my life and never attended any public colleges either ...

[Coopmv]

DM,  The solution for this total lack of fiscal responsibility on the part of the Greek government is for the IMF to come in with a bailout package that requires a 30-40% cut in the Greek welfare state budget ...

Greece on the edge, bailout terms under discussion
Greece says not asking for a bailout; markets speculate rescue by EU, IMF may come within days

[Coopmv]

DM,  A friend of mine sent me this article yesterday and it was great to see these rich and famous who have always thought they are better than anyone else to take a fall ...

Foreclosures Hit Rich and Famous

[Coopmv]

DM,  Lets hope the US and the EU show some backbone and play some hardball with the commies, who only recognize strength and nothing else ...

China's $7.24B March trade deficit 1st in 6 years
China reports $7.24 billion trade deficit in March as imports surge, first in almost 6 years

[Coopmv]

DM,  What kind of export does Greece have?  Isn't it a country that counts tourism as its biggest industry?

Greece has been spending beyond its means for years, leaving it with a 2009 budget deficit of 12.9 percent of economic output. The revelation of its statistics fudging has slammed the euro and gutted market confidence, fueling higher borrowing costs.

Read on ...

[Lethevich]

Iceland gets its revenge on the British and Dutch for messing with their banks:

Iceland volcano grounds flights across northern Europe

In related news, one Washington Post blogger seems to have confused Iceland with Ireland - an easy mistake to make...

Volcanic ash in Northern Europe is wreaking havoc on air travelers. The ash clouds from Ireland have canceled flights, shut down London's Heathrow Airport and closed air space over parts of Europe.