The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

Obamanomics: No Jobs, No Recovery

Here’s a handy little chart showing the pattern of job losses in recessions since World War II: That big red line is the current recession, and Scott Stoddard of Investor’s Business Daily explains: Job recoveries have been increasingly sluggish over the past several recessions and the current downturn looks to be the longest since at […]

Another Friday, Another Bank Shutdown

The FDIC has gotten into the habit of announcing bank closures on Fridays: Regulators on Friday shut down a Nevada bank, raising to 83 the number of U.S. bank failures this year. The Federal Deposit Insurance Corp. took over Nevada Security Bank, based in Reno, with $480.3 million in assets and $479.8 million in deposits. […]

Obama to Europe: ‘Double-Dip,’ Anyone?

The headline is “Obama Urges Europe Not to Drop Stimulus Measures Yet,” but to understand what the president is actually trying to say, you have to read this New York Times story very carefully: President Obama signaled on Friday that countries in Europe should not withdraw their extraordinary spending programs too quickly. In a public […]

Newsweek Intern Attempts to Describe Hayek’s Road to Serfdom: Massive FAIL

Thanks to Kathy Shaidle for calling attention to this sophomoric effort by Princeton senior Isia Jasiewicz: On June 8, Beck devoted an entire episode of his talk show on Fox News to The Road to Serfdom, a work of political theory written in the immediate aftermath of World War II by Friedrich von Hayek, an Austrian émigré […]

Gold Price Hits Record High

Nothing to worry about: Gold futures closed at a record high on Thursday, handily surpassing the mark reached just last week as investors grew more concerned about the U.S. economy and its proxy, the stock market. Gold for August delivery, the most active contract, added $18.20, or 1.5%, to settle at $1,248.70 an ounce on […]

Jack Abramoff’s Ghost!

Jim Hoft at Gateway Pundit links this ABC News item:  With the support of Sen. Chris Dodd, D.-Conn., the federal government has awarded $54 million to Connecticut’s politically well-connected Mohegan Indian tribe, which operates one of the highest grossing casinos in the U.S. The tribe runs the sprawling Mohegan Sun casino, halfway between New York […]

Tomorrow’s Headlines Today

Some things are predictable. Remember this headline? Report: Bottom Falls Out of Housing After First-Time Buyer Tax Credit Expires That was two weeks ago. Today? Housing starts drop to five-month low in May . . . Groundbreaking for single-family homes tumbled 17.2 percent to an annual rate of 468,000 units in May after a 5.6 […]

Banks Failing, Taxes Increasing

The FDIC is already $20 billion in the hole and the news just keeps getting worse: Regulators on Friday shut down a bank in Washington, bringing to 82 the number of U.S. bank failures this year. Seattle-based Washington First International Bank, with $520.9 million in assets and $441.4 million in deposits, was closed by the Washington […]

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