By Russell D. Longcore
Business: The Democrat-controlled US Senate voted down the Obama “Jobs Bill” on a procedural vote. This certainly doesn’t create stability and predictability in the business community, but at least another nearly $500 billion will not get spent by Washington any time soon. See “Economy” below. The business world will not move forward when DC has a target painted on their chests.
International: France and Belgium nationalized Dexia SA, a bank that defaulted this week. This is very, very bad, and simply one of the first to go belly-up. The big problem in the EU is that the biggest sovereign debtholders are the mid-sized banks like Dexia. They will go first.
International II: The House of Representatives approved a Free Trade Agreement this week with Panama, my fave foreign country. The Panamanian economy is growing above 8% per year…Central America’s best kept secret. The new canal is scheduled to be completed by 2014, and is on time and on budget. The big disappointment is that the Panamanian government gave up its tax advantages by signing a tax treaty with DC.
International III: Foreigners are quietly dumping US Treasury bonds as fast as they can. This is a story you will not see in the Main Stream Media. I told you this would happen. Go to Zerohedge.com for more details.
The Nation: America has a nascent protest movement now known as “Occupy (your fave city here).” Mostly these groups are just camping out in the cities and making one hell of a mess that someone else has to clean up. But for the life of me, I cannot figure out what they are protesting. Are they against the wars, the economy and corporate corruption of our political system? They should be against the political corruption of the capitalist system. But that would require them to actually understand the capitalist system, and almost no one who has attended a public school or state university has a clue what capitalism is. I’ve seen some against Wall Street, and some against having to pay back their student loans. Anybody notice that there are NO PROTESTS encamped in front of the White House or the Capitol Building?
The Nation II: The old saying is, “when your opponent is burying himself with his own mouth, shut up and get out of his way.” In the Republican “debate” this week, (a) Michelle Bachmann compared Herman Cain’s 9-9-9 plan to the mark of the beast…666…found in the Biblical book of Revelation, (b) Rick Perry states that he has no economic plan whatsoever, and in a film clip of Perry that’s floating around, Perry places the Revolutionary War in the 16th Century. This bunch is the best that the Republicans can offer for president. I weep for this nation.
The Nation III: New Jersey Governor Chris Christie removed his corpulent self from consideration for this election cycle. Then he called a press conference and publicly endorsed Mitt Romney. I predict that Christie will be named Romney’s VP candidate when Mitt gets the Republican nomination. You saw it here first.
The Nation IV: The US Department of Justice announced that it prevented an Iranian-planned assassination in DC of the Saudi ambassador. The mainstream media dutifully reported exactly as they were fed info from the Feds. I expect that this story will unravel as time goes by.
Religion: Rev. Robert Jeffress, senior pastor at First Baptist Church of Dallas, got the chance to introduce Texas Governor Jim Dick Perry (his real name is James Richard) at a recent event. Later, the Reverend became pretty irreverent when he labeled Mitt Romney’s Mormonism “a cult.” The term often suggests “extreme beliefs and bizarre behavior” (from The American Heritage New Dictionary of Cultural Literacy). Of course, Baptists believe that God speaks to them, that full immersion water baptism has redemptive qualities, that Satan walks the earth and hates them, and that one day they will float up into the sky and meet Jesus. Nothing bizarre there…
Religion II: And speaking of cults…A breakaway Amish group in Bergholz, Ohio recently carried out attacks on other Amish men by cutting off their beards. Apparently Amish men stop trimming their beards when they marry and are quite proud of their facial hair. This was an act of retribution against men who would not obey church rules. I swear I did not make this up. Google the term “Amish Beards” and read the stories yourself.
Economy: In the last SEVEN DAYS, 404,000 adults filed new unemployment claims. And there is a Saturday and a Sunday in there when the unemployment office is closed. So it’s really 404,000 new claims in FIVE DAYS. It’s not getting any better out there.
Sports: The NBA cancelled the first two weeks of the new season after the owners and players found themselves far apart in their attempt to divvy up the billions of earnings of the NBA. Don’t forget that the AVERAGE salary of an NBA player is about $5 million. The players want to point to the NFL as an example. But NFL players play 18-game seasons, and the average career of an NFL player is three years. The NBA season is 82 games, then playoffs. There’s no comparison of the intensity of the two sports. NBA players…and owners…are candy-assed crybabies.
Entertainment: Sparse news in this category this week. Chynna Phillips was the “star” eliminated this week on ”Dancing With The Stars.” She tied the bearded lady Chaz Bono for worst of the week, but watching Chaz dance is like watching a train wreck…you just can’t look away. Chynna was super hot in 1990 as a pop singer in the group Wilson Phillips. Still easy on the eyes.
DumpDC. Six Letters That Can Change History.
© Copyright 2011, Russell D. Longcore. Permission to reprint in whole or in part is gladly granted, provided full credit is given.