So Krugman says:
I’ve long been a believer in the magazine cover indicator: when you see a corporate chieftain on the cover of a glossy magazine, short the stock. Or as I once put it (I’d actually forgotten I’d said that), “Whom the Gods would destroy, they first put on the cover of Business Week.”
. . . . Presumably the same effect applies to, say, economists.
You have been warned.
Could he be talking about this from Tennessee Guerilla Women?
Newsweek Cover: “OBAMA IS WRONG: The Loyal Opposition of Paul Krugman”
Paul Krugman — who as far as I can see is right about everything — is on the cover of the forthcoming Newsweek. The choice of the cover story — Obama’s Nobel Headache — is explained in a letter to readers by Newsweek Editor Jon Meacham.
Joseph Cannon isn’t going to forget. . . . (and neither will I)
APOLOGIZE, Bob Fertik.
Apologize and choose sides. You can join the Clinton wing of the Democratic party or you can be part of the anti-Clinton, pro-Obama wing. You cannot finesse your way between the two. You cannot have one from column A and one from column B. We will never allow that. You must choose.
Do not think for one second that you possess the words that will bring reconciliation. Even if you had the eloquence of a Shakespeare, your rhetoric still would not suffice. The wounds inflicted in 2008 were deep — far deeper than you realize. And the only salve for those wounds will come when the Obots lose face. Complete, total, merciless loss of face: Nothing else will do.
No, we will never “get over” the primaries of 2008, just I never “got over” the Florida vote theft of 2000. I will not forget being called a racist every single day. I will not forget the lies. I will not forget the death threats. I will not forget the astro-turf hate messages (many from the same ISP in Chicago) that flooded my blog every day. I will not forget the totalitarian imagery and the Mao-like cult created by the Obama camapign. I will not forget seeing my own (former) party embrace tactics that would have made Lee Atwater blush. I will not forget the election fraud in the caucus states. I will not forget the disgusting and unforgivable treatment of Hillary’s delegates at the convention.
And let’s get a coffee-jolt with this rant from Market Ticker:
Here’s an interesting article:
Congress approved landmark legislation today that opens the door for a new era on Wall Street in which commercial banks, securities houses and insurers will find it easier and cheaper to enter one another’s businesses.
That’s Gramm-Leach-Bliley, which dismantled Glass-Steagall.
”Today Congress voted to update the rules that have governed financial services since the Great Depression and replace them with a system for the 21st century,” Treasury Secretary Lawrence H. Summers said. ”This historic legislation will better enable American companies to compete in the new economy.”
Larry Summers eh? Oh, you mean the stooge in Obama’s Cabinet? Yes, him.
The decision to repeal the Glass-Steagall Act of 1933 provoked dire warnings from a handful of dissenters that the deregulation of Wall Street would someday wreak havoc on the nation’s financial system. The original idea behind Glass-Steagall was that separation between bankers and brokers would reduce the potential conflicts of interest that were thought to have contributed to the speculative stock frenzy before the Depression.
Funny how we waited until everyone who went through that special Hell known as “The Depression” were dead, then we simply rode roughshod over what they taught us and declared them “fools.”
. . . .
Pity the poor insurance companies. . . . According to the New York Times fixing the health care system is one of Obama’s highest priorities. But, being fair to the insurance companies is hard work:
It is one of the most contentious health care proposals President Obama has floated: offer a federal, Medicare-like insurance plan to anyone, at any age. And let commercial insurers offer their private health plans alongside it.
“It gives consumers more choices, and it helps keep the private sector honest, because there’s some competition out there,” Mr. Obama said this month at a health care forum in Washington.
But the insurance industry and others wary of too much government intervention vehemently oppose the idea. They say the heavy hand of the government will eventually push out the private insurers, leaving the government option as the only option. That is why the industry seems unwilling to give ground on the issue, even while making other concessions to national health reform — like the industry’s announcement on Tuesday that it might be willing to stop charging sick people higher rates than healthy customers.
“It would transform the market for private insurance,” said Karen Davis, the president of the Commonwealth Fund, a health policy research group. She estimates the average premium for a family of four would run around $9,000 a year under a public plan, in contrast to nearly $11,000 for a typical private alternative. The savings to the nation’s health care bill over the next decade could run into the trillions of dollars, she said.
Maybe we WILL get a pony this year (Hey, we’ve got to have our dreams!). This. Is an open thread.
Filed under: Blogosphere, Economy, healthcare | Tagged: forgiveness, Glass Steagall, Health Care for Everyone, Joseph Cannon, Larry Summers, Market-Ticker, New York Times, Newsweek, Paul Krugman, President Obama, public health care plan, Tennessee Guerilla Women |