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From the CNN news desk:

“As a public official, I expect criticism and I expect to be held accountable for how I govern,” Palin said in a statement released by her office Friday. “But the personal, salacious nature of recent reporting, and often the refusal of the media to correct obvious mistakes, unfortunately discredits too many in journalism today, making it difficult for many Americans to believe what they see in the media” (emphasis mine). Yeah! Salacious! When did she pick that one up? Surely not studying for the SATs. I’m glad she’s gone to the trouble to hire a vocabulary coach. Sadly, she’s about twenty years too late.

Mama Grizzly also said she got up on her hind legs when Tina Fey made a crack on her daughter. I say amen. Tina Fey almost single-handedly saved the republic by exposing Palin’s idiocy — and in the process the idiocy of American conservatives.

Speaking of which, check out Sam’s comment on this CNN blog post: “Why do we need Congress anyway? When the Constitution was written, people needed others to represent them in making policy decisions. Now we have the technology to vote and represent ourselves directly.”

OMG. I know that some secretly bad stuff lurks in the hearts of men, but I didn’t think anyone would have the bad judgment to expose himself in public as a monarchist. That’s right people. If you enjoy your liberty, you better stand up with Harry Reid and the Congress, and say we want government of the people, for the people, and by the people. Congress — a legislature — is the only way to have such a government. If Sam’s plan were implemented, and we all voted individually for every piece of legislation that was proposed (by whom?) — as if government were like American Idol — first there would be deadlock, then there would be a breakdown of government, then the executive would assert him/herself to become a king.

I blame the miserable state of American education for comments like this. No one who has studied history, government, or politics would say such a perniciously stupid thing.

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It looks like the bank rescue plan is going to work! Yay! Happy days are here again! This was the shortest Great Depression on record, lasting only three days, from Black Friday (October 10th, 2008) to Happy Mondays! (October 13th, 2008). After the DJIA lost over 50% of its value from its peak over the summer, it gained back 11% on Monday, and if the DJIA follows other world wide indexes today it stands to be back at 14,000 by Christmas.

Some Debby Downers are already saying this looks like a classic “Bear Market Bounce”. They say that — markets be damned — until Americans feel enough pain to make them give up their profligate, spendthrift ways the same mindset that brought us the problem will create new and unforseen problems.

But one thing is for sure, government intervention in global capital has never been this big in the entire history of the world. Whatever the new problems are, they won’t look like your grandparents’ problems. There probably won’t be bread lines in Manhattan (thank God!), nor will there be runs on the banks as frightened citizens desperately try to get greenbacks out of battered ATMs.

I’m gonna play Nostradamus here, and predict that the new problems will have less to do with the money supply (a problem the government has found an elegant solution for) and more to do with inflation. Bad debts are inescapable, as is the hangover they produce. It’s just a feature of overproduction and speculation. They must still work their way through global economies. But people won’t lose their cash. Instead the brand new, guaranteed bills governments all over the world are creating to make sure there is still money in your purse will loose their value when it becomes apparent that they aren’t redeemable for real work. (That’s what happens when people default on their debts — you can’t get the work they promised out of them.) How they deal with 2009’s inflation will be something to see.

The New York Times published an editorial yesterday that argued against a $1 surcharge on taxi fares due to the spike in gas prices. They note that there are a few hundred hybrid vehicles in the 13,000 taxi fleet, and that the entire fleet will be hybrid by 2012. The question is, why aren’t all yellow cabs hybrid now, and why won’t we have a fleet of electric taxis by 2012. The answer undoubtedly has to do with politics and the T&LC. Cultural Capitol will look into the matter and report more later!