Morning links and 'biggest story of the week' poll.

It's a good thing ours were closed yesterday: World stocks fall over 3% over Dubai debt crisis.



Refreshing. Jolie 'hates' Obama. She thinks he's a fraud...Hey Angelina, Christmas gift idea - our poster!!!! As seen in equality marches!!! That are on TV!!! Buy it here!!!


More proof the Nobel peace prize committee turned the prize into a joke this year. In agreement with President G W Bush's policy (and disagreement with President Clinton's) Obama is refusing to sign the landmine ban treaty.



Depression Trend: Huge parties being held in vacant houses.

Poll:

Cash for Clunkers or Debt for the Deluded?

Cash for Clunkers or Debt for the Deluded?....here.

The last bubble?

If anyone can explain to me (feel free to pretend I am a fifth grader) how spending a trillion dollars that does not exist will result in anything but hyperinflation - I would greatly appreciate it. The stimulus/debt bill is being pushed as essential. It may be. I just don't understand how printing or borrowing cash on that scale does not have a major downside.

The cash creates jobs, the workers then spend the earnings, which employs other workers. Good so far.

But the original money came from someone...right? It either came from future Americans or current foreigners...right? Will they require pay back? Or not? Do we have any real obligation regarding this conjured cash? Are there consequences?

I know I am a simpleton on this point. But are we not simply choosing inflation over deflation? I wonder if this is the better bitter pill. I think it is, but I'm nowhere near certain. What bothers me is what appears to be the guiding assumption that we must endeavor to recreate the alleged wealth of days gone by. "Recovery" equates to 1998. Is this a good goal?

We may not need to "downsize" but we do need to "re size". To live in reality. Cheney once quipped that "the American way of life was not negotiable."

Wrong again, Dick.

We either negotiate our "way of life" now, with eyes open, or reality will set the terms.

I am instinctively in favor of Mr. Obama's massive debt bill. I am also clear that it appears to be a gigantic band-aid and not a cure.