Since there is a whole universe of information out there on current events, one could wonder what things went on this week and what might happen next week.
So, here’s my take on the important things of the past week that mainstream media outlets might not tell you about
Things that happened this week which you should know…
- The American Medical Association came out against one key provision in Obama’s healthcare bill, which is the creation of a government run medical plan (public option) that would have the power to drive private insurers out of business. Why? The government is going to cap the profits of the private insurers and undercut their prices with the public plan. This essentially drives the private insurers out of business. The impact of this decision by the AMA is unknown, but it certainly indicates that all the support the President counted on from the medical interests may not be so easy to come by. Click here to read Hot Air’s analysis
- The US government released some terrorists from Gitmo to Bermuda and it appears as though Palau might be another destination. Guess if we can’t expect the Europeans to take them and we’re committed to closing Gitmo AND they can’t come here, we’re stuck with this option of dumping them into third countries that no one cares about. Uhhh… Wait a minute. Is that a terrorist from Gitmo that appeared in a New York courtroom??
- I’ll leave the reader to find the articles over at Hot Air about Sarah Palin and her dustup with David Letterman, but the latest on this certainly indicates to me that the guy doesn’t have a clue. Click here for the non-apology by Letterman. He basically used his Top 10 list on Monday to make a joke about Palin’s daughter being knocked up by A-Rod, a player for the New York Yankees. What he didn’t realize is Sarah Palin had her 14 year old daughter with her at the game. Bristol Palin, the 19 year old daughter of Sarah Palin, who has a son, was probably the intended object of the joke, but she wasn’t even in New York! Geez Dave… Get your facts straight, and might I suggest that the daughters and sons of politicians be off limits to your just below third grade level humor…
- The government printed more money this week. There’s a good explanation of the Laffer “inflation” curve, showing the spike in money supply. What that means to you and I is more inflation in the future. If the government issues debt and no one buys it, we buy it, meaning the Federal Reserve buys the Treasury notes that are issued by the US Treasury. It’s just like the left hand paying the right hand 10 bucks and saying you now have 10 new dollars to spend. Read this to get the details, but watching the upcoming T-bill auctions to find out who is (or is not) buying our debt is a good idea.
What to look for next week
- Watch what happens to the healthcare bill and whether the AMA’s decision starts to imperil its support
- See if the cap and trade bill remains dead
- The guy who is now running GM admits he knows nothing about cars. If the company comes out of bankruptcy, wonder if anyone will be buying GM stock. Uhhh… wait. The government and unions own most of the stock anyway, so why bother…
- If yet another explanation comes out for the Air France jet disaster. First it was lightning, then electrical problems, then pitot-static sensor issues, and now they tell us terrorism may be potentially in the mix. C’mon guys… Next time, get the story straight! The families deserve better than this!