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Echo: Folks making $30,000 a year, buying $600,000 apartments, expecting a 20-30% return in less than a year are now finding that their apartment is worth only $400,000 and there are no 'bigger fools' around to buy at even that price. Sound familiar? Well, that's because China's housing bubble resembles the US bubble, except theirs is just starting to pop. But don't worry, it'll be contained. (comment from old woman - geez, I'm so happy we are not the only fools around)
Priorities: KY Gov. Beasher's budget cuts higher education and basic services and - he admits - "is inadequate for the needs of the state's people." There is, however, $43 million to help a creationist theme park teach Bible lessons to the uneducated, much like the art in medieval churches. (comment from Old woman - just train them enough to do their jobs, stuff them with "religion", keep them "happy" with circuses - 'we don't do bread', oh -- and turn the women back into pure breeders, domestic help, and obedient DOGS!)
Pick A Number: Joe Granville claims the Dow will fall 4000 points by year's end. Optimist. (comment from Old woman -- don't y'all think we should turn Social Security into a boondoggle for Wall Street? - errrr, I mean "let the magic of the market work its miracles"? At least then, I'm sure some bankers would be prosecuted/jailed/killed/burned/tarred and feathered. Aren't they happy they didn't get to mess with Social Security?)
Rose Is Rose: House Republicans say that their budget plan - which hasn't been formulated yet - will include an alternative vision to the “cradle-to-grave welfare state". Specifically the unwritten document will specify substantial cuts in Medicare
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