Woodchuck Headlines – Week of August 23, 2010

Click on headlines to view entire article…

Government Run Healthcare

We hear a lot about how wonderful it is that the Canadians or the British or the Swedes get free medical treatment because the government runs the system. But we don’t hear much about the quality of that medical care.

We don’t hear about more than 4,000 expectant mothers who gave birth inside a hospital, but not in the maternity ward, in Britain in just one year. They had their babies in hallways, bathrooms and even elevators.

Big Oil pays more in taxes than makes in profits

Governments have collected $1.95 trillion in taxes from the oil industry since 1981,” said Hodge. “That’s far more than the profits of major U.S. oil companies during the same period.

U.S. Economy in 1930’s-style Depression

Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression. Chicago Federal Reserve President Charles Evans said in a speech Tuesday that the risk of a double-dip recession has escalated.

Bad news: Chinese commuters stuck in … nine-day traffic jam

The main area of the bottleneck is creeping along at around a third of a mile per day; Chinese authorities hope to finally get things moving by mid-September.

Job fears grip voters, Obama ratings crumble

More Americans now disapprove of President Barack Obama than approve of him as high unemployment and government spending scare voters ahead of November’s congressional elections, a Reuters/Ipsos poll showed on Tuesday.

Frightened Sellers Who Missed the Market Lower Prices in a Panic

Double-Dip coming right up…

The spring rally is officially over as sales in Southern California have dropped dramatically. Sellers are getting frightened and greatly reducing their asking prices. I say that the volume drop has far exceeded any “statistical drop” and falls into the category of complete disaster showing underlying market weakness.


VIDEO OF THE WEEK

“When You’re Holding a Hammer, Everything Looks Like a Nail”

A new song using an old adage sings about Obama’s only solution for every problem…throw money at it or blame the last President; “blame it on 43″ in reference to the 43rd President, George Bush.

According to Wikipedia, the song lyrics are in reference to “the law of the instrument” from 1964 which goes something like this; “…give a small boy a hammer, and he will find that everything he encounters needs pounding…the sentiment that people look for cure-alls, and over-use familiar tools.”




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