Wisconsin is Greece

Tens of thousands of state workers and their supporters have turned out at the Wisconsin State Capitol since Tuesday to protest the governor's proposal.

Walker wants to help shore up the state's projected two-year, $3.6 billion budget shortfall by increasing public employees' costs for pensions and health-care coverage. Firefighters and police are exempt from the measure.

In addition to eliminating collective-bargaining rights, the legislation also would make public workers pay half the costs of their pensions and at least 12.6 percent of their health care coverage - increases Walker calls "modest" compared with those in the private sector.

On Thursday, state Democratic senators left the Capitol to deny Republicans -- who control the state legislature -- a quorum to vote on the governor's bill. The bill is expected to pass. The same run-away-and-hide measure that the Texas Democrats used not that long ago.

Politico: The Politics of Education Upended

Question -at what point will it be enough? Will they just keep demanding more until there is a collapse - or a State bankruptcy? And if that happened, and they caused it, shouldn't they be the first to suffer? This isn't about the right to form a Union or to organize -- it's the plain and simple fact that there's no more money!

The funny part is, in the private sector - there's contraction. People lose their jobs. These people are on the streets demanding more. They're calling their Governor Mubarak and Hitler - so much for civility in politics, eh?

Well, on the bright side, the kids are getting a couple days off.

Sunday Comics: The Week in Review

Let's get started... Arizona continues to get clobbered, (as they should)...
A stabbed homeless man in Queens was passed over by nearly 25 people ... but Maggie's Farm is okay!
Comedy Central censored South Park...
Europe's got 99 problems and Greece is #1...
And the Democrats promised financial reform after grilling Goldman Sachs for 12 hours. Lots of 'hurumps' in that room. They even passed a bill - but because no one bothered to read it, it almost guarantees more tax payer bail outs.
And there was a spill in the Gulf of Mexico.

The Gulf Coast is a bout to see something slimier and tackier than oil: Lawyers...and introducing Blasphemes solution to the oil spill...

See you next week folks!

Good News, Everybody!

Only in the twisted world of doublespeak can the news of the elimination of another 247,000 jobs in July be turned into good news. It's as if those quarter of a million people WANTED to be fired. The unemployment rate, which has been rising for months, ticked down, to 9.4 percent from 9.5 percent in June. It was expected to touch double digits, which would have been politically devastating to Obama - just because the number 10 is so scary. However, no one has been keeping track of the number of people who are STILL unemployed, and how many people dropped out of the hunt for work, ceasing to list themselves as unemployed.

And let's pretend that there is a recovery coming from the Great Recession. Fine. But no one's hiring. There were still a quarter of a million people laid off. And they aren't all from Bears training camp.

And last week the government announced another significant improvement — the overall economy contracted at an annual rate of only 1 percent in the spring quarter! Wow! Contraction - good news! To their credit, it was vastly better than the fall and winter months. The New York Times says, "the two reports have convinced many forecasters that when the history of the Great Recession is written, these summer months will be the big turning point, when the economy started to grow again."

Or, what I think, it could be a slight pause in the hemorrhaging.

The fact is the Net Wealth of US Households has "declined from a peak of $22 trillion to just under $12 trillion in early March." The problem is compounded by the fact that Total US Household debt, as of first quarter 2009, amounts to roughly $13 trillion, and has stayed within that range for the last 3 and a half years.

"From the end of 2007 through Q1 of 2009, household equity has declined by 94%. Is it surprising that today's GDP number would have been a complete debacle if the consumer had been left alone to prop the U.S. economy, on whom 70% of the economy is reliant? Obama pulled a Hail Mary with the stimulus: without it there would be no debate America is in a depression right now." (more)

The boil down is that the consumer is out. Credit and home equity are all but dust and that's trouble for an economy that's 70% dependent on consumer spending for growth. Unless that fact turns around, don't start expect things to 'go back to normal' any time soon.

Add that to the trouble that the US Treasury is having in pawning our debt to China and other suckers - and then we'll start talking about inflation. Once inflation starts, you'll get your $500,000 back in your house equity - while you're buying bread for $10.

What YOU Owe

Some of you are getting tired of my [almost] daily rantings on taxes. Well - here is an explanation why I'm so uptight and have my panties in a bunch. Here's WHAT WE OWE...

As our "leaders" are out telling everyone what a great job they did with the stimulus package - bringing the economy from the brink (oh yeah, prove it) You, me and all the taxpayers are on the hook for an extra $55,000 EACH to cover insane, unchecked federal commitments made to retirement benefits, the national debt and other government promises such as rainbows and unicycles for every household

The 12% rise in red ink in 2008 stems from an explosion of federal borrowing, plus an aging population driving up the costs of Medicare and Social Security. Thanks baby boomers!

That's the biggest leap in the long-term burden on taxpayers since a Medicare prescription drug benefit was added in 2003. That's all George Bush trying to get Jeb's state.... and it worked by the skin of his teeth.

The latest increase raises federal obligations to a record $546,668 per household in 2008. Even USA TODAY did an analysis of it. Where do you think I snagged that graphic?

So what? Well, that's quadruple what the average U.S. household owes for all mortgages, car loans, credit cards and other debt combined.

"We have a huge implicit mortgage on every household in America — except, unlike a real mortgage, it's not backed up by a house," says David Walker, former U.S. comptroller general, the government's top auditor. In other words, you don't have anything to show for it.

Best Treats

Remember that one year? That one awesome year?

We all know that most Halloween candy is made up of small versions of traditional candy bars—the 2 1/2-inch ones—or the minis, which are just an inch. This is called a "fun size" by the candy companies. An adequate taste, but nothing more. But that one time, when you were out walking on Halloween night, you saw a few kids run past you to a house up ahead. Then a few more. And then you ran, because you knew—you knew—that there is great sh*t being given out at that house. Some old upper-middle-class couple with no kids and no real concept of Halloween... They were handing out full-sized candy bars.

This was like winning the Halloween lottery. You grabed one, and ran off to a few more houses, then ran back. You tried to figure out a way to make your costume look different—maybe you switched masks with your buddy. The couple looked confused, but didn't ask why Dracula was wearing a Batman mask, because they weren't sure if it was a new show they haven't heard of, and you grabbed another whole candy bar. Ten minutes later, and you were back, waiting in line with countless other kids who figured out the gold rush was here. The couple told you that this is the last one, and you mumbled agreement as you grabbed it.

It is indeed was the last one, because these people ran out of all of their candy in 30 minutes. They never repeated their mistake ever again. and you probably disturbed them greatly, by revealing that greed is endemic to humanity, even at its most innocent.

But you had three whole candy bars!