Archives for November, 2009
Among the many deceptions in the current health care bills, perhaps the most devious is the accounting trick whereby new tax revenues begin immediately, but the new expenses begin a year after Pres. Obama faces reelection. Proper accounting rules require that these two streams of funds be matched to understand the bill’s impact, but for [...]
In the face of a stagnant jobs economy, the media-academia complex is ginning up a second stimulus. Saturday’s New York Times reported that the original $800bln stimulus package was both “worthy” but “way too small;” translation: it’s time for more spending. Of course, more wasteful spending designed to entrench budget bloat is very unpopular outside [...]
In keeping with their campaign promises, the Obama Administration is moving the 9/11 terrorists from Cuba to the US to stand trial, effectively giving them the full protection of the US Constitution. Today, A.G. Eric Holder announced that Khalid Sheikh Mohammed would be tried, in all places, New York, the very place he is alleged [...]
The mainstream media’s narrative for the financial meltdown of 2008 generally states that a bunch of overly greedy Wall Street insiders cooked up inscrutable instruments like CDOs and MBSs, and then parsed them into further inscrutable derivatives like default swaps until nobody knew how much risk was out there. These instruments, which ultimately relied on [...]
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