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And The New Year Begins

02 Jan

Alrighty folks, a new year is upon us.  I hope everyone had a delightful holiday season.  Mine was quite a little clusterfuck, but cest la vie, it is over and onto a new year. Let’s start with a few things

  • An oldie but a goldie, and oh so relevant

“I’m very proud to know the Koch brothers. This may be a breaking news announcement for the media: I am the Koch brothers’ brother from another mother.”
~Herman Cain, creepily admitting that he’s REALLY close to the Koch brothers.

“One of the things I will talk about, that no president has talked about before, is I think the dangers of contraception in this country. It’s not okay. It’s a license to do things in a sexual realm that is counter to how things are supposed to be. [Sex] is supposed to be within marriage. It’s supposed to be for purposes that are yes, conjugal…but also procreative. That’s the perfect way that a sexual union should happen…This is special and it needs to be seen as special.”
~Rick Santorum, opposing contraception and frighteningly suggesting that he would love to make pre-marital sex illegal.

“There’s no question at times of my life, partially driven by how passionately I felt about this country, that I worked far too hard and things happened in my life that were not appropriate.”
~Newt Gingrich, blaming his many affairs on his patriotism.

“Corporations are people, my friends.”
~Mitt Romney, declaring that corporations are people in front of a crowd of real people in Iowa.

  • A little clarity from Krugman on the debt

Second — and this is the point almost nobody seems to get — an over-borrowed family owes money to someone else; U.S. debt is, to a large extent, money we owe to ourselves.

It’s true that foreigners now hold large claims on the United States, including a fair amount of government debt. But every dollar’s worth of foreign claims on America is matched by 89 cents’ worth of U.S. claims on foreigners. And because foreigners tend to put their U.S. investments into safe, low-yield assets, America actually earns more from its assets abroad than it pays to foreign investors. If your image is of a nation that’s already deep in hock to the Chinese, you’ve been misinformed. Nor are we heading rapidly in that direction.

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Posted by on January 2, 2012 in Economy, Politics

 

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