Tuesday, June 28, 2011

Lower Consumer Spending Does Not Look Good for Economy, International Agency Wants Less Economic Growth, Michelle Bachmann Says She Has the Values of a Serial Killer. . .

And Other News That Requires Comments

Consumer spending in May was unchanged, meaning zero growth in the most vital sector of the economy.  This information, combined with other negative growth news about the economy should increase pressure in Washington for more expansionary fiscal policy. Instead Republicans and Democrats are negotiating policy that will produce lower growth and employment. 

Are they really that stupid?  (Don’t answer, it is a trick question).


In its lead story for June 27 the Financial Times has the following headline

Economic growth must slow, warns BIS


The gist of the story being that

In its annual report, the Bank for International Settlements said that with the scope for rapid growth closing, monetary policy should be quickly brought back to normal and countries should act urgently to close budget deficits.

The tough recommendations were urged on advanced and emerging economies alike . . .

The concern of the BIS, an international financial regulatory body, is inflation, well actually future inflation, that is, inflation that has not yet happened.

Are they really that stupid?  (Don’t answer, it is a trick question).

It turns out that Michelle Bachman

has benefited from the kind of government aid she frequently criticizes on Capitol Hill and on the campaign trail.

 A report in the Washington Post states that her in-laws’ farm, in which she is listed a partner, received about $260,000 in federal money, and her husband’s clinic got $30,000 in training funds for its employees.  Ms. Bachmann defended the clinic money on Fox News (where else) describing 

the clinic funding as “one-time training money” and noting that it went toward the employees and not to Bachmann and her husband themselves.

So her husband’s business gets federal money that goes to employees to help them train to be better and more productive in their jobs, and Ms. Bachmann says she and her husband got no benefit.  And yes she did list income from the farm on her financial reports.

Does she really think we are that stupid?  (Don’t answer, it is a trick question).

And here from the Washington Post

she flubbed her hometown history when declaring “John Wayne was from Waterloo, Iowa,” and “that’s the kind of spirit that I have, too,” in running for president.

The actor was born nearly 150 miles away. It was the serial killer John Wayne Gacy Jr. who lived, for a time, in Waterloo, Iowa.

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