In the News: 19 February 2009

Cali gets its capital fix and taxpayers are paying for the fiscal dope, final stage of the recession is here, inflation, GREAT VIDEO of Rick Santelli, of CNBC, going off about the economy, and Oklahoma man gets pulled over for anti-Obama sign.

California Legislature finally approves new budget

LA Times
-Voting at dawn to end a three-month impasse, the California Legislature passed a budget package that addresses the state's massive deficit with billions of dollars in new taxes and program cuts after Democrats and Gov. Arnold Schwarzenegger reached a deal with a GOP holdout.

Sen. Abel Maldonado of Santa Maria provided the final Republican vote needed to pass a spending plan, which includes more than $12 billion in tax hikes. In exchange, Democrats agreed to rewrite election rules that Maldonado said had allowed the Capitol to become paralyzed by partisanship, leading the state to the brink of financial ruin. read more...
Taxes, taxes, taxes, and more taxes. Welcome to our future.

Wholesale inflation takes biggest jump in 6 months

AP-Inflation at the wholesale level surged unexpectedly in January, reflecting sharply higher prices for gasoline and other energy products.

The Labor Department said Thursday that wholesale prices increased by 0.8 percent last month, the biggest gain since last July and well above the 0.2 percent increase that economists had expected.

The acceleration was led by a 3.7 percent surge in energy prices with gasoline prices jumping by 15 percent, the biggest gain in 14 months.

Even outside the volatile food and energy sectors, wholesale prices showed a bigger-than-expected increase, rising by 0.4 percent. Economists had expected a slight 0.1 percent rise in so-called core inflation. read more...
Oh wow, and the "experts" didn't expect it to jump as high as it did! Still think they know what they are talking about?


‘Obama Are You Listening?’: Traders Mock Housing Bailout Plan During Live TV Rant on CNBC

You gotta love Rick Santelli, calling it like it is. Maybe he should be Secretary of the Treasury? Too bad he doesn't want to live in DC, I guess he is right about all the showers he would have to take. Think about the environmental impact.

Video credit to Breibart. I don't know what us bloggers would do without you, Andrew.


OKC officer pulls man over for anti-Obama sign on vehicle

The Enid News-An Oklahoma City police officer wrongly pulled over a man last week and confiscated an anti-President Barack Obama sign the man had on his vehicle.

The officer misinterpreted the sign as threatening, said Capt. Steve McCool, of the Oklahoma City Police Department, and took the sign, which read “Abort Obama, not the unborn.”

Chip Harrison said he was driving to work when a police car followed him for several miles and then signaled for him to pull over.

“I pulled over, knowing I hadn’t done anything wrong,” Harrison said in a recent phone interview. read more...
The police are really becoming the thought police? I didn't know they were on that payroll.


Phaedrus said...

This video is awesome and it made my day to see it. At least there is some common sense out there. Unfortunately by the time the starry eyed dreamers realize the truth in this, there will be too high a price to pay.


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