Daily Readings 08-31-2010

By: admin
Published: August 31st, 2010

Neither Party Deserves to Lead – OpinionVoters want a clear plan to balance the budget and create decent jobs, and to win their confidence one or the other party must come clean about what that take

TheDC analysis: America’s hidden debt – With Fannie and Freddie debt trading at prices nearly identical to Treasury debt, however, the markets assume that the taxpayers are on the hook, which means that somebody has to lose big.

U.S. Auto Sales May Hit 28-Year Low as Discounts FlopU.S. auto sales in August probably were the slowest for the month in 28 years as model-year closeout deals failed to entice consumers concerned the economy is worsening and they may lose their jobs. The summer of recovery continues…

Record number in government anti-poverty programs More than 50 million Americans are on Medicaid up at least 17% since the recession began in December 2007. More than 40 million people get food stamps, an increase of nearly 50% during the economic downturn. More than 4.4 million people are on welfare, an 18% increase during the recession. More than ever you may be sure, that we are in a depression

Cash-Poor Governments Ditching Public Hospitals “Faced with mounting debt and looming costs from the new federal health-care law, many local governments are leaving the hospital business, shedding public facilities that can be the caregiver of last resort.”

Obama Administration Plans Mortgage Aid, HUD’s Donovan SaysThe Obama administration plans to set up an emergency loan program for the unemployed and a government mortgage refinancing effort in the next few weeks to help homeowners after home sales dropped in July. Government should stop propping the market and let the house prices fall.

Surprise! Banks help more homeowners than ObamaBanks have realized that foreclosing on home after home after home may not be in anyone’s best interest — least of all their own. So they’ve ramped up the number of loan modifications they’re handing out to their delinquent clients.

Ron Paul questions whether there’s gold at Fort Knox, NY Fed Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold.

Ron Paul: Depression Is Coming – “The bigger question is what have been our commitments or loans,” Paul said. “That’s why I want an audit of the Fed and to check all the agreements they have with foreign central banks and governments.”

Gold Rallying to $1,500 as Soros’s Bubble InflatesGold may rise as high as $1,500 next year, 21 percent more than the $1,235 traded at 9 a.m. in London, according to the median in a Bloomberg survey of 29 analysts, traders and investors.

CLIMATE CHANGE LIES ARE EXPOSED The panel was forced to admit its key claim in support of global warming was lifted from a 1999 magazine article. The report was based on an interview with a little-known Indian scientist who has since said his views were “speculation” and not backed by research.

Why Do Heavy Drinkers Outlive Nondrinkers?For reasons that aren’t entirely clear — abstaining from alcohol does actually tend to increase one’s risk of dying even when you exclude former drinkers. The most shocking part? Abstainers’ mortality rates are higher than those of heavy drinkers. LOL… Cheers!

The Folly of Subsidizing UnemploymentMy calculations suggest the jobless rate could be as low as 6.8%, instead of 9.5%, if jobless benefits hadn’t been extended to 99 weeks.

State Default Risk – Illinois has the highest default risk of all states at 303.2 bps — even higher than California.  California ranks 2nd, followed by Michigan, New York, and New Jersey.  Not to anyone’s surprise, these are basically the five states in the country with the biggest fiscal problems at the moment.  States that appear to be in pretty good shape include Texas, Virginia, Maryland, and Delaware.

Government Pay: Now For The Really Bad NewsHigh federal pay means less capital formation, lower wages and reduced innovation.

The $31 Billion Revenue FantasyThose who make $200,000 a year are 3% of all taxpayers but pay 52% of all income taxes.

Our Schools, Dumb and Dumber As the nation’s children return to elementary and secondary schools, it is increasingly essential that their parents and communities coast to coast realize how poorly served they are and how their learning environment is increasingly tainted by a socialist agenda. I think that the education is the biggest problem USA faces in near future

ObamaCare makes more lobbyistsPeter Suderman at Reason explains how ObamaCare is a stimulus for health-care lobbyists…

LOL – She’s got the mike – the following picture may be NSFW…

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