Some short news items on this holiday weekend.
Stinker: The bill extending the payroll tax for Obama’s desired two months doesn’t just raid Social Security; it also puts back a mortgage fee that will cost homeowners $200 a year. In its ten year period we are talking about $2,000. Let’s see, which is better? An immediate savings of $160 or a cost of $2,000 for you?
Insanity in Charge: The UN called for a moment of silence to honor NOKO dictator Kim Jung Il. Guess they feel bad about not holding one for Khadafy.
Some ‘splainin’ to do for Ron Paul: Politico’s Ginger Gibson writes about things Ron Paul needs to explain from his past. For instance, the “disaster of Ronald Reagan’s conservative agenda” and that drugs should be legalized. He claims American drug laws are designed to fund rogue governments and CIA programs. Take a look at this clip:
Paul also said U.S. foreign policy “contributed significantly” to the 9/11 attacks. He said returning donations to him by white supremacist groups would be pandering and that the Civil Rights Act violated the Constitution. Paul voted against giving the Congressional Medal of Honor to Rosa Parks and Pope John Paul II. And now about those racist rant newsletters surfacing now?
Don’t look now: As the USS John Stennis approaches Middle Eastern waters, the Iranians are launching a massive ten day war game event.
Outlook negative: Mark Spitznagel writes an op ed in the Wall Street Journal “Christmas trees and the Logic of Growth.” In short, he says Central Bankers are creating a tinderbox by keeping alive many very bad investments.