Word that the pope was knocked down by a woman as a Christmas Eve mass is interesting since it comes only shortly after the attack on Italian prime minister Berlusconi 10-days ago. The pope got up – apparently unhurt but a cardinal was injured and this turns out to be the same woman, according to a CNN report, that attacked last year.
The woman behind the knock down will be getting what’s called ‘necessary treatment’ in hospital, but just what that is we don’t know.
Healthcare as the WPA?
Hadn’t really thought about it in these terms, but with president Obama saying healthcare is the most important piece of ‘social legislation since the 1930′s” I get to wondering if it will be as far-reaching as the Works Progress Administration or the Civilian Conservation Corps of the previous depression?
—
To be sure, the statistics as we end the decade sure support my view that we’re in the Second Depression. The Atlanta Journal-Constitution is carrying the Wall Street Journal story about how the “Last decade was the worst ever in the stock market“. I get almost daily hate mail from people who don’t like my pointing it out – like I had anything to do with making it. As usual, the messenger and message are hard to distinguish for some folks.
—
One reader – Bullish Bob – sent me a nice foam plastic bull which now adorns my office wall. It serves to remind me that some people actually make money being long stocks, but I’ve always had better luck on the short side.
Iran Runs Clock
An end of the year deadline for Iran to reach a nuclear deal is apparently going to arrive with no deal if I’m following reports on Iranian media and satellite feeds right. And this will – reckons “The Hill” cause some real problems for Obama and congress.
—
Also in the Mideast “US drones wipe out top al Qaeda leaders in Yemen” Thursday – and killing more than 30 in the process.
Cooling Japan
Worries are becoming more pronounced today that the world’s second largest economy - Japan – is in trouble and headed for worse amidst reports that deflation of of consumer prices are nearing 2% while unemployment is over 5% and climbing.
So, what’s the government there planning? Oh, how about spending their way rich – or at least trying such – apparently figuring if it can work elsewhere, why not in Japan?
Of course, as I point out religiously, the proof is not in yet because economic developments tend to move at subglacial speed…
—
Rabble-rousing Hugo Chavez is taking on Toyota – threatening to kick them out of Venezuela if they don’t make a 4-by-4 for public transport in poor areas.
Hey! Why not call it a Volkstrucken? No? How about Hugomobile? no? How about….
More Tax Dollars
I suppose it will be painted as good news that the “U.S. promises unlimited financial assistance to Fannie May, Freddie Mac” but somehow it just feels like another tax hike in the making.
—
Stock promoters and insiders have often been accused of ‘pump & dump’ schemes so I wonder if things like how the financial crisis has developed could be characterized as ‘lax and tax’?
—
And speaking of your tax dollars – keep sitting on your wallet: “Congress raised debt ceiling to $12.4 trillion.” Which is almost up to one year of GDP ($13-14 trillion).
Tough Life Department
The Obamas are spending Christmas in Hawaii…which means a good chunk of the White House press corp ought to come back looking tan in a week or so. Can’t blame ‘em: Washington’s cold and rainy with rain & snow showers later in the week.