There's all sorts of really cheery economic news out there today -- the kind of thing that makes you want to take a nap -- so I did.
Then there are the prospects for 2011 -- especially with the incoming House of Reprobates, errr, sorry -- Representatives. Paul Krugman sums it all up with this (as usual, please follow link to original):
December 28, 2010, 3:33 pm
Rule by the Ridiculous
There must be a way to construct a word for this out of Greek roots; something like kleptocracy, but meaning rule by ridiculous people instead. But it’s all Greek to me. Anyway, a couple of stories today.
1. Wall Street executives in a complete snit about Obama: he bailed them out with no strings, he’s leaving their bonuses intact, but he doesn’t always invite them to White House events.
Who thought that “Ma, he’s looking at me funny!” would become a crucial campaign slogan?
2. Paul Ryan requires that his staffers read Atlas Shrugged. I mean, I was inspired by Isaac Asimov, but I don’t think I’m Hari Seldon — whereas Ryan, it seems, really does think he’s John Galt.Time to bring out the classic quote:
There are two novels that can change a bookish fourteen-year old’s life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.
Future historians will giggle at our expense.
Wednesday: GDP, Unemployment Claims, Durable Goods, Personal Income &
Outlays, Pending Home Sales
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[image: Mortgage Rates] Note: Mortgage rates are from MortgageNewsDaily.com
and are for top tier scenarios.
Wednesday:
• At 7:00 AM ET, The Mortgage Banker...
3 hours ago
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