Home » 2011 (Page 5)
Back in August, negotiations over the Federal budget were so impossible that Congress had to punt to a “Super Committee” that had until November 23rd to report back on how to proceed. Failure to come up with a plan would trigger automatic spending cuts and probably quite a bit of chaos.
The bad news is that ten days out there is no sign of an agreement. The good news is that it’s taking them so long because they are tackling the big issues such as tax and entitlement reform.
If there’s one thing that movements like Occupy Wall Street need, it’s a poster child. You know, a person or company that exhibits everything bad about the system as we know it and can stand as an example for why we need more regulation and public control. Someone like … (drumroll) …
MF Global, the perfect poster child for “Party like it’s 2007” bad behavior.
This company did more than make a very bad bet, it ran what is now being called “Madoff like ponzi scams” and has $593 million of clients’ money missing. It even had a prominent Democrat, former New Jersey Governor John Corzine, so there’s something for the Republicans to gnaw on. If anything, MF Global is too perfect to be the bad guy on a drama that is almost certain to start playing out – it’s time to reign these guys in.
This morning the Euro crisis moved on from the still unresolved Greek issue to Italy. There is nothing new here except that Italian PM Silvio Berlusconi said he would resign after an austerity package was passed and move the nation ahead into new elections. How did that happen?
This highlights the critical difference between how the US has been handling the Depression so far, which has been primarily to spend our way out, versus the European belt-tightening austerity being forced on member nations. That difference is stark, but it was not a choice – the Euro system is set up so that it cannot do anything else. It’s that inflexibility that is driving the crisis which has the world running scared.
Tuesday, November 8th, is Election Day in many places across the USofA. The off-years are usually municipal elections, a tradition here in the cities of Minnesota where we keep local races from being lost amid the flurry of state and national contests. Saint Paul, my city, has the entire City Council up this year, along with most of the School Board.
I am greatly honored to be a part of the campaign to re-elect my friend and a great leader for our city, Dave Thune, here in Ward 2. I hope all of you who live here can join me in voting him back in to finish up the great work he has done for us.
The following is a repeat from March of 2009. Little has changed since it first ran – except the urgency of the message. I’ll be back with a current piece next Monday.
People are willing to give up 40 or more hours a week to have it. The lust for it drives some people to betray their friends’ trust, and the lack of it has driven some to suicide. In our culture, there is nothing quite like money as a motivator. So what is it?
Barataria - The work of Erik Hare 