Samuelson: Europe’s economic purgatory

WASHINGTON POST, 12/14/2011 by Robert J. Samuelson (Hat tip: John H. Detweiler)

By now, it’s obvious that adopting the euro was a colossal blunder. It may rank as Europe’s worst policy mistake since World War II. The virtues of the common currency — it reduced transaction costs and the uncertainty of fluctuating exchange rates among national monies — were temporary. Its vices seem permanent or, at least, semi-permanent: the mounting economic costs of saving the euro; the growing nationalism from arguing over who’s to blame. ✧ Do not expect some magical “solution.” Europe has entered an economic and political purgatory from which there is no early escape. On paper, the crisis countries (so far: Greece, Portugal, Ireland, Italy and Spain) might benefit from abandoning the euro and resurrecting national currencies. They could then devalue these currencies, spurring exports and tourism. But in practice, this choice is dangerous and maybe impossible. Read more at the Washington Post...

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Buffett: U.S. Could Become Banana Republic

MONEYNEWS.COM, 8/19/2009 by Julie Crawshaw - Warren Buffett says the growing mountain of U.S. debt could turn the country into a banana republic. ∴ “Unchecked carbon emissions will likely cause icebergs to melt [or not],” Buffett writes in The New York Times. ∴ “Unchecked greenback emissions will certainly cause the purchasing power of currency to melt.” Read more at Moneynews.com... Read More......

H.R. 1: Health provisions slipped in without discussion

Negotiations Start On The "American Recovery and Reinvestment Act of 2009"
Negotiators for Congress and the White House have tentatively settled on a $790 billion price tag on President Barack Obama's economic stimulus bill and are working to narrow differences on individual elements of the bill.

Republican Senators are questioning whether President Barack Obama's stimulus bill contains the right mix of tax breaks and cash infusions to jump-start the economy. Tragically, no one from either party is objecting to the health provisions slipped in without discussion. Senators should read these provisions and vote against them because they are dangerous to your health. (Page numbers refer to H.R. 1 EH, pdf version). Read the entire article by Betsy McCaughey here.

National Federation of Republican Women, CAP Alert, Week of Feburary 9, 2009

Reading list from Rush Limbaugh, 2/10/08 - Outrage Over Socialized Healh Care Hidden Inside Porkulus Bill
Bloomberg: Ruin Your Health With the Obama Stimulus Plan - Betsy McCaughey
• Wall Street Journal: Despite Daschle, Health Reform To Be a 'Central Focus' of Obama Budget
• WT: Democrats using 'Stealth' to Re-Engineer Society with 'Stimulus' Package - Ed Koch
• Heritage.org: Comparative Effectiveness in Health Care Reform: Lessons from Abroad
• National Review: 50 De-Stimulating Facts Read More......