Obama will veto bill that attempts to overrule the FCC's net neutrality rules. Our government is upside down. Congress is supposed to write laws and the executive branch is supposed to enact them. Instead, the executive branch writes laws and Congress is left with little power to overturn them.
The FCC is ordering ISPs to provide broadband internet to families with children on school lunch programs at $9.95 a month. That means the rest of the cable company's customers must pay for the program. In addition, price fixing always creates shortages, so you can expect your broadband to slow down.
SOCIALISM:
Unions are good for teachers but bad for students. More generally, unions are good for bad employees but bad for good employees, consumers and businesses.
ECONOMY:
Ron Paul explains that many millionaires and billionaires got that rich by working with the government to loot us. And he doesn't have to do anything to figure out who did that versus who got rich by providing products and services at a price people liked. All he has to do is end the bailouts and dramatically cut government spending.
TAX AND SPEND:
The government plans to tax Christmas trees ostensibly to increase sales. You can't make this stuff up. Christmas tree makers asked for this tax instead of funding their own marketing campaign. That's stupid and wasteful, and they're going to regret that decision.
The market effect of taxes: consumers end up paying much of them.
"Employers will hire fewer high-income employees, and will try to pass their increased labor costs onto their customers. This now depends on the relative bargaining power of the seller and his customers. To the extent that business owners can raise prices without comparatively large losses in sales volume, they can pass off most of their increased tax costs to consumers. Consumers who still buy at a higher price end up paying for part of the tax that was supposed to affect only "the rich." The political Right is wrong in its contention that the bottom do not pay for income taxes. Everyone pays sales taxes directly, but middle- and lower-income Americans end up paying for part of the taxes that were targeted at higher-income Americans. The political Left is also wrong. The actual burdens of higher taxes cannot be isolated to "the rich." Poor and middle-income Americans are already paying hidden taxes through higher prices. Additional increases in explicit taxes on the top 1 or 5 percent would increase the hidden tax burdens that everyone else already bears."So if you really want to help the poor, abolish all taxes.
Yields on Italian bonds surpass 7 percent, which is considered unsustainable, and rates go up on France's debt.
"Italian 10-years were yielding 7.25% by noon in New York, a 552 basis point spread over German bunds. The yield on French bonds also spiked, with their spread against German bunds widening to almost 150 basis points.The situation is all the more shocking given massive ECB intervention in bond markets to support European banks. Italy might be beyond the “point of no return,” according to Barclays, with its debt servicing needs exceeding output growth."I like how this article calls the people demanding high rates vigilantes, as if they were doing something sinister by demanding high rates to offset their risk. The sinister people are the people who were stealing the money of others at the point of the government's gun or by printing money. Government prolificacy is taking down European governments and the euro. Unless we dramatically reduce our spending now, our government and the dollar are next.
"The risk of contagion is fast becoming a reality with Italy. Rosenberg notes that “ratings downgrades could come next. And after Italy, the bond vigilantes could come after France and if that happens, we may all kiss the EFSF goodbye unless the Germans opt to Finance a continent-wide bailout on its own.”"The talking heads want us to believe this is some kind of contagion. They're trying to deflect blame from the politicians and the banking cartel that enables them. This isn't about contagion. It's about governments spending more than their private sectors can support. It's about the burden of government collapsing the economies of these counties. Economies have been looted by government spending, debt and money printing to the point of collapse.
"If Italy were to default, the fallout would be devastating for Europe and the global economy."If isn't a question of if but of when. The sooner all these governments default, the better. The more debt they amass, the more painful the inevitable collapse will be.
GLOBAL WARMING AND ENERGY:
Global warming frauds turn on Al Gore. It couldn't happen to a more deserving crook.
Biden's staff "about had an orgasm" because of their excitement at lending Solyndra taxpayer money. These freaks get off on corruption.
POLICE STATE:
I'm seriously disgusted by this rush to judgment at Penn State. The Penn State powers-that-be have forced Paterno to retire even though he did nothing wrong. These people second guessing him nine years after the fact are just looking to boost their own careers at his expense. As of right now, we don't even know any children were harmed. Accusations aren't proof. False accusations of sexual assault are commonplace. Prosecution of innocent people is commonplace. If it turns out these accusations are true, they should punish the guilty after the crimes are proved. But punishing Paterno given what we know today is a disgrace. It's this kind of bloodthirsty rush to judgment that has corrupted our justice system into a conviction system.
Penn State fired Paterno. Assuming these accusations are true, Penn State would have been largely unaffected by them. The individuals responsible would be punished and the institution would have been undamaged. But this knee-jerk attack on Paterno though he did nothing wrong and the allegations have yet to be proven will damage Penn State for years or decades to come. Penn State has no credibility now. Who would want to coach or play from it after this? Penn State is hurting itself far more than any criminal misconduct by a few individuals could ever have hurt it.
These reports keep saying nobody at Penn State called the police, but when you look into the details, they did tell the campus police. McQueary saw the assault and informed. Paterno informed AD Curley. Curley subsequently met with McQueary and Gary Schultz. Gary Schultz was the vice president of finance and business, and as part of his job, he oversees campus police. Obviously Paterno could have done more, but he did what he had to do, and as a result, the overseer of the campus police was informed of the assault. It's despicable that Penn State punished Paterno like this.
FOREIGN POLICY:
China and Russia trade with Iran, and they have no problems with Iran. There's a lesson to be learned there.
POLITICS:
Responsibility for all the problems created by big government ultimately rests with the voters.
The good news is the Occupiers are exposing the leftists for who they are. The bad news is the protests are petering out.
Obama's bogus measure of poverty in his 2010 census.
Legalize freedom is a good slogan for Ron Paul.
MISC:
Blizzard with hurricane force winds to batter Alaska. Yikes.
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