Here's a snippet from
a WSJ Opinion regarding the coming Democratic supermajority and why it's scarier than 8 years of a guy who can't pronounce nuclear. If you feel you have to vote for a Dem president, at least do yourself a favor and check his power with a vote for someone other than a Dem Congresscritter.
But here's the rub. Now enter the government and the prospects of a kinder and gentler economy. To alleviate the obvious hardships to both homeowners and banks, the government commits to buy mortgages and inject capital into banks, which on the face of it seems like a very nice thing to do. But unfortunately in this world there is no tooth fairy. And the government doesn't create anything; it just redistributes. Whenever the government bails someone out of trouble, they always put someone into trouble, plus of course a toll for the troll. Every $100 billion in bailout requires at least $130 billion in taxes, where the $30 billion extra is the cost of getting government involved.
If you don't believe me, just watch how Congress and Barney Frank run the banks. If you thought they did a bad job running the post office, Amtrak, Fannie Mae, Freddie Mac and the military, just wait till you see what they'll do with Wall Street.
Mr. Adams was dead right on this one. I am a huge Phillies fan. And it was utterly thrilling to be at Game 5 to see the Phils win it all. It will be one the great, if not the greatest sports memories of my life. In any event, since everyone has seen and heard (most of) it all from Game 5 already - here's something that most of you haven't seen or heard. Around midnight after Game 5, Harry Kalas came out on to the field and sang High Hopes, which I captured on tape. Enjoy!!
http://2.recordertheapp.com/65e4b5a0c5099a78f64f/memo.aiff
