ROGER/PAJAMAS/RHETORICAL QUESTION: IS CALIFORNIA HOPELESS? IN SCOURING MY DAILY HAUNTS TODAY, I came across three high-quality pieces I want to post below because I think they're well worth our time:
FIRST AND FOREMOST, Tunku Varadarajan writes today at The Daily Beast on how President Obama has allowed relationships with one of the United States' greatest democratic allies---India---to wither on the vine, while simultaneously pursuing and playing nice with our enemies----those whose goal is to bring down our country and everything it stands for. For that, Mr. Obama is viewed in India, the ultimate red country, with great skepticism, even as his upcoming and polite hosts take down all the coconuts in Obama's path to keep our president from injuring his un-turbaned head. To wit Tunku writes in A Tattered Special Relationship:
Barack Obama’s visit to India, starting Saturday, may offer him some small respite from the drubbing that has made this week the nadir of his political life; but if he’s looking (a la Elizabeth Gilbert/Julia Roberts) for some Eastern salve for his battered soul, he isn’t going to find it in Mumbai or New Delhi....
SECOND, Bob Cusack writes realistically at The Hill on The Top Ten Challenges Boehner Will Face As Speaker of the House. While I'm overjoyed and thankful that conservatives have taken the House, I continue to think there are many difficulties ahead for us that may be hard to impossible to overcome in the next two years without a Republican Senate majority. Cusack highlights the heavy lifting House conservatives have cut out for them, starting with earmarks and going all the way to repeal and replacement of Obamacare.
THIRD, Graham Summers of Phoenix Capital Management writes today at Zero Hedge on the fallout of Ben Bernanke's foolish decision this week to foist another massive money printing scheme---lovingly refered to as QE2---on the American people. Even if you hate to read articles on the economy, this is well worth the struggle. Summers tells us succinctly three effects we might expect in the upcoming year: The Fed's Gone All In.
We can expect QE2 1) to fail miserably like QE1, 2) currency and trade wars to become the new normal and 3 ) inflation to make all commodity prices rise even more, including precious metals, oil, gasoline and especially food. Might be a good time to stock up on food staples for next year.