Newt Just Can’t Help Whining, Congressional Republicans Learned Lesson on FAA Shutdown, Mr. Perry is the Problem with Texas Medicaid, Greek Bonds Interest Rate Over 100%

And Other News of the Day

Newt Gingrich’s Presidential Campaign has been going nowhere and looks in the future to be going nowhere.  The cause is the Press, according to Mr. Gingrich who




Mr. Gingrich's Talking to Supporters
Is Not One of Them

 

“told supporters on a conference call during the NFL halftime game last night that, since the spring, he started getting poor press treatment because of his aggressiveness”

No Mr. Gingrich, the campaign is not going well because of the candidate.

In August the Congressional Republicans shut down the FAA because they were not getting their way on an unrelated union organizing issue in the transportation industry.  The result was not only the layoff of FAA workers, but the cessation of airport construction projects and the layoff of about 70,000 private employees.

The public outcry was intense and the Republicans relented.  Now they are talking quietly about extending FAA spending authority to the end of year.  The last thing they want is an FAA shutdown and layoffs.  Are you listening Mr. Obama?

In the Wednesday Republican Presidential Candidate Debate there was a lot of talk about health care in Texas.  Texas Gov. Rick Perry blamed his state’s Medicaid problems on Washington and the Obama administration, although the Washington Post Fact Checker found otherwise

“Perry gives a misleading account of this application for a waiver on Medicaid rules. The George W. Bush administration rejected the application in 2008, saying it was incomplete and riddled with problems. As far as we can tell, the state has not resubmitted the waiver.”

Looks like Mr. Perry is easily slipping into the traditional politicians’ role of misstatements.

Looking for a high return on investment?  Look no further.  Short maturity Greek bonds now have an interest rate over 100%.   Don’t plan on investing soon though.  This is a result of bond mathematics.  Well really it is the result of short term Greek bonds having no buyers.

“At this stage, the numbers are becoming little more than bond-math curiosities. There is simply no liquidity in Greek bonds as investors brace for a default.”

Loan shark groups were said to be studying the situation.

In Germany the German Supreme Court ruled that the German participation in the various bailout schemes for Greece and other countries was legal.  The Court also voted to start wearing funny hats.