Catching up on the News

The news is coming so fast that I can hardly keep up with everything that I want to comment on. Today's jobless numbers have caught the media off guard again. Maybe its just me but aren't you tired of hearing about 'unexpected' increases in first time jobless claims? Even though the recession is supposedly over the unemployment rate remains high and this morning's newscasts have revealed that inflation is beginning to tick upward. We may be looking at another bout of stagflation just as we faced in the Carter administration. Unlike the Carter years, people have a much higher debt load which could be disastrous if interest rates rise like they did in the 1970s. Equally bad this time around is the fact that the nation's debt is a larger part of the GNP.

The B-HO continues with his lie that the current economic situation is George Bush's fault. If you know anything about economics you will know that this assertion is patently false. No president can be solely responsible for an economy even though they get both the blame and praise for economic circumstances. The American economy was in overdrive for much of the last decade and only began to show signs of trouble in 2008 - a year AFTER the Democrats came to power in the House and Senate. 'Compassionate conservatism' combined with liberal/progressive economics equals economic doom. For the sake of politics Hobama also ignores the fact that recessions follow oil shocks (something George Bush could not control) and have an inverse relationship.

Like a Cocker Spaniel, Meghan McCain is kind of cute but really stupid. Waxing ineloquent on ABC's The View last week Meghan woofed out some absurdity about how 'revolutions are started by young people not 65 year olds'. The self-described 'progressive' Republican (which is the same as saying liberal) is right about one thing: in the modern age, young people generally do begin revolutions. What Meghan isn't smart enough to realize (nor would she learn it from her Republican in Name Only father) is that youth movements and revolutions are almost always Fascist in nature. The other dirty secret of youth movements is that they are generally manipulated behind the scenes by older radicals who know how to attract young, revolutionary, and useful idiots like...Meghan McCain.

You may want to look to Greece for a peek at our potential near future. The EU stripped Greece of a vote on its own economic future on Tuesday (which should raise the paranoia rate in Whitehall to the roof) making them economic vassals to the whims of Germany and France. The Greek economy is in full collapse with unemployment rates estimated near 25%. There are riots in the streets on a near daily basis that receive absolutely zero coverage in the American MSM. I doubt that the threat of EU commissioners taking over economic sovereignty of their nation will make the highly patriotic Greeks less likely to take to the streets. Adding to Europe's problems is a collapse in the value of the Euro which is at its lowest level versus the dollar almost since introduction. Spain's economy is folding nearly as fast as Greece's and they may face similar sanctions before summer. Britain is not insulated as inflation is now outpacing interest rates making their savings worth less over time. However they have one consolation - the decision to keep the Pound Sterling provides them some insurance should the Euro collapse entirely.