Friday, February 20, 2009

"Scoop" Jackson She Ain't.

Secretary of State Hillary Clinton has made it clear that when it comes to dealing with the People's Republic of China, business (and bond buying) comes first. There was a time thirty years ago when some thought that such a realistic attitude be adopted in dealing with the Soviet Union. Senator Henry Jackson, God rest his soul, thought otherwise.
Daddy Lashes Back.

NBC's Brian Williams, Matt Lauer, and Squawk Box foe Steve Liesman jumped CNBC's Rick Santelli this morning on this morning's Today for his audacious and treacherous criticism of the White House's Mortgage Plan. Matt Lauer suggested that Obama's plan is the sacrifice the 92% of the non-delinquent public must make for the good of all of the 8% of the mortgage defaulters. Matt: I know plenty of families that could use the potlickings from the generous compensation from your network; just send us the checks and we'll forward them on. We are now taking bets that Rick will be heading to Fox Business Channel within the year. Indeed, it's not clear how much more dissent parent company (MS)NBC will tolerate from their unenlightened Wall Street Brat Pack. Get ready for Squawk Box with Robert Reich and Rachel Maddow...

The M Bomb.

The White House has just unveiled its plan to bailout distressed homeowners. CNBC's Rick Santelli voices the displeasure felt by many.
The Spending Trainwreck.

The United States Government has signed off on spending an additional $800B for anything and everything. The Left has been braying for government-directed "Industrial Policy" for decades, they now have their opportunity to implement it in a coherent manner...and they've blown it. The "Stimulus" is a trainwreck of directionless and unfocussed spending, driven by craven political desires for pork, patronage, and ideology rather than any kind of coherent plan to guide the repair of the nation's economy. Yet another trillion dollars to hobble our children's future. God Save the United States of America.