Saturday, February 19, 2011

More "Happy Talk"

Please go to "Some Assembly Required" for an overview of how screwed up our "Empire" has become. (examples)

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Disconnect:Part of the problem with the US economy is that large numbers of Americans believe “that the government is responsible for what happens” to them. As sophisticated investors know, this is incorrect. The government is responsible only for what happens to AIG and Goldman Sachs.

Reality Check: Wisconsin Governor Walker claims that public employees salaries and pensions are responsible for the budget crisis, and that crushing the unions is the only possible solution. But, the budget “crisis” is a $200 million shortfall over two years, $117 million of which is due to three bills Walker and the GOP passed last month. The $3 billion shortfall he cites is of his own making. Wisconsin state employees do not have his alleged “extremely generous benefits packages”, and in fact get paid about 5% less than equally experienced and educated private sector workers

Baby It's Coal Outside: A Harvard professor reports that if public health costs are included in the cost of coal, along with the environmental damage done by mining – and ignoring the eventual costs to us all from global warming – the coal industry inflicts a $345 billion in hidden costs on the public every year

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