Content – Aug 23, 2011

Posted on August 23, 2011 by Admin

 
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The Content August 23, 2011
In This Issue
Quote of the Day
USA becomes food stamp nation but is it sustainable
Obama's claim that GOP is holding up trade deals
GOP may OK tax increase that Obama hopes to block
Morgan Stanley at brink got $107B from Fed
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Quote of the Day

hazlitt 

"A strong passion for any object will ensure success, for the desire of the end will point out the means."
 

 

 -Henry Hazlitt

USA becomes food stamp nation but is it sustainable?

Answer is NO

 

Genna Saucedo supervises cashiers at a Wal-Mart in Pico Rivera, California, but her wages aren't enough to feed herself and her 12-year-old son.

 

Saucedo, who earns $9.70 an hour for about 26 hours a week and lives with her mother, is one of the many Americans who survive because of government handouts in what has rapidly become a food stamp nation.

 

Click here to read the full article at Reuters

Obama's claim that GOP is holding up trade deals

He never submitted any agreements

 

Those were pretty tough words by the president over the weekend – "the only thing preventing us from passing these bills is the refusal by some in Congress to put country ahead of party," referring to bills he suggests are bottled up in Congress, including free-trade agreements with South Korea, Colombia and Panama.

 

Not so fast, cry the Republicans: The White House has never submitted the trade bills to Congress for approval. The issue is so confusing – and Obama has been demanding immediate action for so long – that one White House spokesman actually expressed surprise this month when reporters noted the trade bills have not been submitted.

 

Click here to read the full article at the Washington Post

GOP may OK tax increase that Obama hopes to block

Really

 

News flash: Congressional Republicans want to raise your taxes.

 

Impossible, right? GOP lawmakers are so virulently anti-tax, surely they will fight to prevent a payroll tax increase on virtually every wage-earner starting Jan. 1, right?

 

Click here to read the full article at Yahoo News

Morgan Stanley at brink got $107B from Fed

Includes charts and graphs

 

As markets convulsed in September 2008, Morgan Stanley (MS) Treasurer David Wong briefed the Federal Reserve on a "dark" scenario in which the U.S. firm would need at least $10 billion of emergency loans from the central bank.

 

It got 10 times darker by month's end. Morgan Stanley borrowed $107.3 billion, the most of any bank, according to data compiled by Bloomberg News using information released in response to Freedom of Information Act requests, related court orders and an act of Congress.  

 

Click here to read the full article at Bloomberg
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