Category Archives: News

News

US money supply contracting at Great Depression levels

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The most-read story today on the UK Telegraph. (H/T ECM)

Excerpt:

The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history.

The M3 figures – which include broad range of bank accounts and are tracked by British and European monetarists for warning signals about the direction of the US economy a year or so in advance – began shrinking last summer. The pace has since quickened.

The stock of money fell from $14.2 trillion to $13.9 trillion in the three months to April, amounting to an annual rate of contraction of 9.6%. The assets of insitutional money market funds fell at a 37% rate, the sharpest drop ever.

“It’s frightening,” said Professor Tim Congdon from International Monetary Research. “The plunge in M3 has no precedent since the Great Depression. The dominant reason for this is that regulators across the world are pressing banks to raise capital asset ratios and to shrink their risk assets. This is why the US is not recovering properly,” he said.

What should we expect from a man who opposes capitalism? Well, we should expect to be poor. We should expect to be as poor as people were during the Great Depression.

I have an idea. Next time, let’s elect someone who is responsible enough to have his own credit card.

News

Interview with Dr. Laura about the proper care and feeding of husbands

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An interview with the author on the Harper Collins web site.

Excerpt:

Why did you write this book aiming at the women — aren’t both responsible for the quality of the marriage?Of course! However, women are in the unique position of having an extraordinary amount of influence over their husbands, which when exercised thoughtfully, compassionately, lovingly, and intelligently results in a happier husband who will ‘swim through shark infested waters to bring her a lemonade.’ Women seem not to understand, or underestimate, the profound power they have over their husbands. Men are very emotionally dependent upon women from the day they are born to the day they expire. This book teaches women to use this power benevolently — which will definitely result in them being happier with life and love.

What are the most common complaints men have about their wives?

  • Their women don’t seem to have much regard for their feelings and needs
  • Their women constantly criticize and dismiss them
  • Their women don’t seem to want to go out of their way to please them
  • Their women nag, demand, and complain — and seem to behave as though they were entitled to do so
  • Their women don’t make them feel truly needed and valued as men

What are husbands’ most important needs?

  • He wants to feel like a “man” to his woman; he wants to feel that he is providing and protecting
  • He wants to feel that she needs and admires him
  • He wants to know that she desires him
  • Basically, The Three A’s: appreciation, approval, and affection

This is my favorite practical book on marriage. I read it because I am always interested in understanding what it is like to be a married man, and what I should be looking out for from women during courtship. I want to know what I should be looking for in a woman to make sure that I am properly cared for and fed if I become a husband. I think every woman should read it in order to understand how to relate to men. It’s like an owner’s manual for men! The book sold bazillions of copies. Has anyone else read this book other than me and found it useful?

News

Bobby Jindal wonders why Obama is doing nothing about the oil spill

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Bobby and Supriya Jindal

Editorial from Investors Business Daily.

Excerpt:

The federal government’s response so far has consisted largely of scapegoating BP and ignoring its own responsibilities and lack of preparation, railing against Big Oil, while Congress makes plans to quadruple the federal gasoline tax, ostensibly to finance cleanups.

Never let a good crisis go to waste when there’s a chance to make big government bigger.

“We’ve been frustrated with the disjointed effort to date that has too often meant too little, too late for the oil hitting our coast,” Louisiana Gov. Bobby Jindal said on Day 36 of the spill.

As of Tuesday morning, he was still waiting for the federal government to provide millions of feet in booms and to approve an emergency permit for a state plan to dredge and build new barrier islands to keep the oil from reaching the marshes and wetlands.

Jindal, who is so desperate for the islands that he says he’ll build them himself even if it means going to jail, states: “We need more booms, more skimmers, more vacuums, more jack-up barges that are still in short supply. Let’s be clear: Every day that this oil sits is one more day that more of our marsh dies.”

The leftist media was on Bush 48 hours after Katrina for “not doing enough”. But they’ve given Obama a pass for 37 DAYS (as of Thursday). Is that consistent? Well, it’s consistent with their enormous bias against conservatives.

I normally would not think that Obama should be blamed for this at all, because it’s not the federal government’s job to rush in and rescue states. But Jindal is no fool, and he seems to think that there are specific things that Obama should be providing. So why isn’t Obama providing them, and why doesn’t the media care about the environment now that Obama is President?

More here at Michelle Malkin.