Way short on time tonight so just a few thoughts.
All We Have is a Long List of Excuses
I think all that is wrong with things is best summed up by two examples. In the end to find out who is running the show and where the real interest lies these two answer the questions.
When we needed campaign finance reform we got the McCain-Feingold Bill which changed nothing.
When we needed financial reform we got the turd of a bill just passed which does nothing about anything.
That's really all you need to know. Everything else is window dressing and discussions over drinks. I do not think I even have to write anything more other than the same set of idiots running the FED (OMG, I did link Mark Thoma in a good light, the world is surely ending!) are the same as the isolated DC elected officials that think we cannot read and would accept that these bills are "better than nothing". They are nothing and please do not confuse zero turnout at votes and general apathy as acceptance.
For future reference on the smart guys running the FED, mark this one down big time:
SF FED: State Budget Issues Only Moderate Risk to National Recovery
I mean, it's like contained, right??
I had some more stuff but I wanted to leave off with this remarkable video tribute to the site The Automatic Earth, which really should be a regular stop for you:
That was well done.
Have a good night.