“China is ‘passive’ on the value of the U.S. dollar, central bank Governor Zhou Xiaochuan said, signaling that policy makers aren’t yet prepared to loosen controls on the yuan.” Zhou: “We just watch the game. Regardless who wins or loses, the issue of whether the winner or loser benefits the spectator doesn’t arise.”
Daily Reads
“Episodes in both houses of Congress exposed the raw nerves of lawmakers flooded with stories of unemployment and economic hardship back home [and] underscored the stiff headwinds that the administration faces as it pushes to enact sweeping changes to the financial regulatory system while also trying to create jobs for ordinary Americans.”
“I think it is important though to recognise that if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the US economy in a way that could actually lead to a double-dip recession.” So, health care!
More than 2,000 pages of financing for bad policy, with excise taxes, payroll taxes, annual fees, and more. “In total the bill would raise taxes by $370 B over ten years.” Keith Hennessey breaks down the way the health care bill is funded. Did you like the Social Security scheme? You’ll love this.
“The leader, his staff and scorekeepers have had discussions over recent weeks to ensure those proposals fit the parameters President Obama laid out in his call for legislation that comes in with a price tag no higher than $900 billion that is fully paid for.” Yes, paid for with fictional Medicare efficiency money.
Everyone is awesome except for us: “If there was any significant change during this trip, in fact, it was in the United States’ newly conciliatory and sometimes laudatory tone… The day before, speaking to students in Shanghai, he described China’s rising prosperity as ‘an accomplishment unparalleled in human history.’”
“Having upset her liberal base with one trade-off after another before finally passing the House’s healthcare bill with just two votes to spare, Speaker Pelosi moves to a bigger test: keeping her fragile Democratic coalition together.” It’s not going to be easy as the bill is changed to gain Senate passage.
“For more than a year, FDIC has been seeking a buyer for 36 partially built condos it inherited from a high-flying, short-lived Atlanta bank… fending off vandals, haggling with architects and uncovering the developer’s blunders, all in a bid to dispose of this condo project, just one of the 2,554 foreclosed assets on its books.”
How dare they maximize profit: “Harvard health economist, Joseph P. Newhouse, said he found a similar pattern of unusual price increases after Congress added drug benefits to Medicare a few years ago… Just as the program was taking effect in 2006, the drug industry raised prices by the widest margin in a half-dozen years.”
“Today, CIT is in bankruptcy court, and the taxpayers’ investment is on the brink of being wiped out. It would be the largest loss so far from the government’s massive rescue of the financial system, but it isn’t likely to be the last… Analysts expect more bailed-out firms to fail in the months ahead.”
- November 21, 2009 -
MORE LEDGER
ELSEWHERE ON TNL
POLITICS
- Reid’s Massive Health Care Mess
- Jobs: An Economic Problem or a Political Problem?
- Nine Reasons Why the New York City Terror Trials are a Bad Idea
- Is America Becoming More Like China?
- Obamacare vs. the American Entrepreneur
- The Losing Side
- Prosperity and Capitalism After the Berlin Wall
- Is Joe Klein Nuts?
- Democrats Divided on Abortion and Health Care
- Berlin at 20: Neither Impossible Nor Inevitable
MARKET
- Negative Interest Rates, Fed Audits, and Geithner in the Dock
- Retail, Ben Bernanke, and Auditing the Fed
- China, Prosperity, and the Berlin Wall
- Christopher Dodd’s Big Regulation Push
- GDP Grows, Consumer Spending Plummets on the Eve of the Holiday Season
- Is the Recession Over? And AIG’s 100 Cent Payoff
- George Soros’s War on the Free Market
- The Executive Pay Crackdown and Too Big to Fail Policy Explained
- Hank Paulson’s Secret Goldman Sachs Meeting
- The New Home-Buyers’ Big Tax Credit Fraud
BLOGS
- David Broder On The Cost Of Health Care Reform
- Charles Krauthammer On Civilian Trials For Terrorist Suspects
- Of Global Warming And Potential Scientific Fraud
- Obama Steals Football from Children in NFL PSA
- I Realize That People May Be Tired Of Me Pointing This Out . . .
- Bribery
- Surprise! (Trade Policy Edition)
- Health Care “Reform” Will Cost Us
- Lindsey Graham Devastates Eric Holder
- Sino-American Communiqué Failures
EDGE
- Four Seasons of Awesome: Urbaniak on Venture Bros
- The Invention of Lying and Religion
- Gold For Oil and Son of Cash For Clunkers
- Polanski and the Crux of Art and Excess
- Tarantino: Hollywood’s Most Righteous Gentile
- Those Cursed Mets and the Book of Fred
- Why Michael Bay Is So Incredibly Awesome
- Goodell, Vick, and the Unforgiveable Crimes of the NFL
- Baseball’s Big Problem: Bill James on Steroids
- Public Enemies: Michael Mann’s Moral Relativism
CONSERVATION
LINK NETWORK
- Atlantic Online
- Boston Globe
- Breitbart
- Chicago Tribune
- Daily Beast
- Drudge Report
- Foreign Policy
- Guardian UK
- Houston Chronicle
- Huffington Post
- Instapundit
- Los Angeles Times
- Memeorandum
- New York Times
- NTC News
- Pajamas Media
- Politico
- RCP Blog
- RealClearWorld
- Spectator UK
- Telegraph UK
- The Blotter
- The Hill
- The Long War Journal
- Times Online UK
- USA Today
- Wall Street Journal
- Washington Post
- Washington Times
- Yahoo News
- Ace of Spades
- Blogometer
- Commentary
- CQ Politics
- Ezra Klein
- Hotline On Call
- LA Times: Top of the Ticket
- Marc Ambinder
- Michael Barone
- Michelle Malkin
- New Criterion
- Political Punch
- Politics Daily
- Power Line
- RealClearPolitics
- Redstate
- Room for Debate
- The Brody File
- The Campaign Spot
- The Corner
- The Minority Report
- The National Interest
- The New Republic
- The Next Right
- The Note
- The Other McCain
- The Weekly Standard
- Time: Swampland
- Townhall
- Victor Davis Hanson
- Washington Examiner: Opinion
- WSJ: Capital Journal
- WSJ: Washington Wire
- Autoblog Green
- Biodiversity
- Cleantech
- Climate Audit
- Cornwall Alliance
- CrunchyCon
- Ducks Unlimited
- Earth2Tech
- Environment Report
- Evangelical Ecologist
- Field and Stream
- Green Christian Network
- Green Tech
- GreenDaily
- Heartland Institute
- Master Resource
- National Geographic Blogs
- Nature Blogs
- NJ: Energy & Environment
- Real Climate
- SA: Earth and Environment
- Steven F. Hayward
- Watts Up With That?
- Wired: Planet Earth
- World Climate Report
- WSJ: Environmental Capital
- Ace of Spades
- American Culture
- Arthur’s Hall
- Big Hollywood
- CityRag
- Cracked
- Culture 11
- Deadspin
- Fark
- Film Drunk
- Foggy Monocle
- Galley Slaves
- I Don’t Like You In That Way
- Kissing Suzy Kolber
- Lileks: The Bleat
- Moe Lane
- Protein Wisdom
- Slate
- The Deceiver
- The Real
- The Superficial
- TMZ
- TV Without Pity
- With Leather
- WWTDD
