Tracking the Economic Cycle and the Falloff in Consumer Spending

October 20, 2009

Jason Trennert: “In the postwar period, most economic cycles in the U.S. have been driven by pent-up demand from interest rate sensitive sectors like housing and autos. We think it’s safe to say there is little pent-up demand for these sectors today and that consumer spending as a percentage of GDP is likely to fall.”

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Reasons We Should Not Wait to Disarm Iran

October 20, 2009

Hitchens: “We are at least entitled to consider the idea that a decaying regime that is bluffing and buying time on weapons of mass destruction is in a condition that makes this the best moment to do at least something to raise the cost of the lawlessness and to slow down and sabotage the preparations.”

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Reid Offers Docs a Deal: Just Walk Away, I Will Give You Safe Passage in the Wasteland

October 20, 2009

“At a meeting on Capitol Hill last week with nearly a dozen doctors groups, Reid said the Senate would take up separate legislation to halt scheduled Medicare cuts in doctor payments over the next 10 years. In return, Reid made it clear that he expected their support for the broader healthcare bill.”

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New York City's War on Small Businesses

October 19, 2009

Malanga on NYC: “Taxes, fees, and fines are worse than ever; city departments have stepped up inspections and enforcement; city agencies have stymied efforts to cut red tape; and at a time when the national and city economies are struggling, commissioners have promoted new social policies that have added to businesses’ burdens.”

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Feds Widen Insider Trading Investigation After Galleon Arrests

October 19, 2009

Expect a crackdown on hedge-fund managers, lawyers and other Wall Street players. “Some probes, like the one that focused on Rajaratnam, rely on wiretaps. Others stem from a secret Securities and Exchange Commission data-mining project set up to pinpoint clusters of people who make similar well-timed stock investments.”

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GOP: Even Though We Know Charles Rangel is Guilty as Sin, We Don't Want People to Think We're Meanies

October 19, 2009

There’s little question that Charles Rangel’s corrupt real estate dealings are a matter of fact. But “Boehner and other top Republicans don’t want to make Rangel into a sympathetic figure and are sensitive to any accusation from African-Americans that there is a GOP campaign to remove him from power.”

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Obama Delays Troop Decision: 'Deadlock' in Afghanistan as Karzai Rejects UN Fraud Verdict

October 19, 2009

“The White House chief of staff Rahm Emanuel warned yesterday that President Obama would delay a decision on whether to commit up to 40,000 extra American troops to the conflict until the election crisis pans out and it becomes clear whether there’s “an Afghan partner” worth fighting for.” This is not a game.

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Creigh Deeds is the First Test of Obama's Political Coattails, and They're Not Looking Long

October 19, 2009

Newsweek calls Virginia’s gubernatorial race “the first big electoral test of Barack Obama’s presidency.” Unfortunately, Obama seems to be taking this one pass-fail. “Already, unnamed White House aides have leaked that it’s Deeds’s race to win, perhaps distancing themselves from the blowback if he loses.”

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Record Deficits May Dash Obama's Plans For Economic and Societal Reorganization

October 17, 2009

“At about ten percent of the overall economy, the gap between federal spending and tax collections is the largest on record since the end of World War II, bigger in nominal terms than the past four years of deficits combined.” “Obama’s current policies would drive the budget gap into the trillion-dollar range.”

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The White House's Lobbyists Tried to Engineer Corporate-Backed Health Care Push

October 16, 2009

Witness: “a somewhat unlikely alliance between an administration that came into power criticizing George W. Bush for his closeness to Big Business and groups such as the Pharmaceutical Research and Manufacturers of America and the American Medical Association.” “No quid pro quo was involved, they insist, as do the lobbyists themselves.”

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