Trying to break down and then piece back together what’s going on in Washington regarding the debt ceiling feels like playing with a Rubik’s cube. If I cornered an economist at a cocktail party to explain it all, chances are I still wouldn’t walk away with a firm grasp on the subject, much less any idea how to solve our fiscal woes. Clearly, NOT raising the debt ceiling, thereby forcing us to default on loans, would be a very, very bad thing. Worse is our current debt load at $14.3 trillion. … [Read more...]
Today’s cup: oil prices, the NFL, DOMA and the French press
It’s easy to blame the big, bad oil companies for what ails many Americans, and the country itself. Spending more at the pump cuts into the household budget, leaving less money for other goods and services, which in turn slows down the economic recovery. Sure, we should use less gas. Absolutely. Most of us should drive smaller cars and drive less. BUT, later this week, oil companies are going to report tremendous first quarter earnings (on top of recent record profits) and they’re counting … [Read more...]
The morning cup: Monday, 10/18/10
Oh, the French. They love to strike and strike they do. They’re running low on oil and had to tap their prudent reserves because of work stoppage at the refineries, all because they want to retire at age 60 and not Sarkozy’s proposed 62. AND they’ve issued yet another terror alert, but caution not to take it too seriously or too lightly. Isn’t that the same as not having a terror alert at all? U.S. and Afghan combat troops began their offensive into Kandahar, the second largest city in … [Read more...]
The morning cup: September 13th, 2010
In a big upset, the Houston Texans beat the Indianapolis Colts on opening Sunday in the NFL. See all the scores, stories, videos at ESPN.com. The US Open men's final, between Rafael Nadal and Novak Djokovik, was delayed until today due to heavy rain in New York. On Saturday, Kim Clijsters won handily over Vera Zvonareva in the women's final. Taylor Swift sang a song last night at MTV’s Video Music Awards, apparently addressing the kerfuffle from last year’s show when Kanye West took the … [Read more...]