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Kiss of Death Dept.

Geithner Says Europe Will Succeed

Headline in the Wall Street Journal

When has this guy ever been right?

via Geithner Presses Europe for Solution – WSJ.com.

More fallout from Obamacare

This story from the Detroit Free Press (excerpted below) will be repeated many times as we approach the time when/if the health care law takes effect. In our own area, this has to be affecting the medical companies in Warsaw.

The plain fact is, the health care law will cost more and more jobs as time goes on, possibly including jobs lost in Elkhart General Hospital in response to “reform.” Obamacare is making life worse for Americans without improving healthcare for anyone.

Stryker, the Kalamazoo-based maker of artificial hips and knees, will cut 5% of its global workforce by the end of next year to reduce costs in the face of new fees on device makers required by the U.S. health care law.

The job cuts will reduce annual pretax operating costs by more than $100 million beginning in 2013, when the medical-device excise tax is scheduled to take effect, Stryker said Thursday in a statement. Stryker had more than 20,000 employees as of Dec. 31, according to Bloomberg News data.

via Stryker to cut 5% of workforce | Detroit Free Press | freep.com.

If you’re ticked off at banks, this actually makes some sense

Occupy Wall Street has made little sense to us from its inception — Wall Street is, in our opinion, not nearly as culpable in the current economic downturn as are Fannie, Freddie, Chris and Barney.  But where banks have done wrong (and there are some good arguments here), we applaud the “vote with your feet” method of voicing consumer displeasure.  This from the AP:

A grassroots movement that sprang to life last month is urging bank customers to close their accounts in favor of credit unions by Saturday.

The spirit behind “Bank Transfer Day” caught fire with the Occupy Wall Street protests around the country and had more than 79,000 supporters on its Facebook page as of Friday. The movement has already helped beat back Bank of America’s plan to start charging a $5 debit card fee.

via News from The Associated Press.

What we find ironic, however, is that the leftist/Marxists of the OWS protests are getting actual traction from a purely free-market solution, i.e., if you don’t like it, don’t support it.  No company wants to lose customers.  If your bank displeases you, pull your account.

The Solyndra scandal should never have happened

Dick Morris reports on how the Solyndra scandal goes pretty much to the top, but here’s what we think is the ultimate point: Governement subsidies in the “green jobs” are morally and economically indefensible. Here’s Dick:

The Solyndra scandal is a gift that keeps on giving. It shows that not only was Obama’s stimulus package and baloney about green jobs a fraud but that it was also good old Chicago politics at work.

And the entire concept of the loan program is bogus. How can you make an energy company that is not viable work by lending it money? If the program can generate energy at competitive prices, why would it need federal aid? And, if it can’t, how would it ever be able to repay the federal loan?


We need a better bedtime story — Noonan in WSJ.

Peggy Noonan talks about failure of leadership — in both parties — but this astonishing excerpt from Ron Suskind’s Obama interview is what particularly grabbed me.

I return to Ron Suskind’s book, “Confidence Men.” As noted last week, Mr. Suskind has been criticized for getting quotes and facts wrong. But the White House hasn’t disputed his interview with Mr. Obama, who had some remarkable things to say.

It turns out he too is obsessed with The Narrative. Mr. Suskind asked him why his team had difficulty creating a policy to deal with unemployment. Mr. Obama said some of it was due to circumstances, some to the complexity of the problem. Then he added: “We didn’t have a clean story that we wanted to tell against which we would measure various actions.” Huh? It wasn’t “clean,” he explained, because “what was required to save the economy might not always match up with what would make for a good story.”

Throughout the interview the president seems preoccupied with “shaping a story for the American people.” He says: “The irony is, the reason I was in this office is because I told a story to the American people.” But, he confesses, “that narrative thread we just lost” in his first years.

via Once Upon a Time in America – WSJ.com.

Have Europe’s wealthy jumped the shark?

Tax Me More, Europe’s Wealthy Say – NYTimes.com. First it’s Warren Buffett, now this.  For most of these folks (check the article), they have the option of paying more if they really want to, so why don’t they?  Hitting the super-rich with more taxes plays well at cocktail parties and down at the union hall, but it has no real benefit in terms of easing government deficits long term.  That’s because even if we flat-out confiscated all the money the glitterati have, it wouldn’t go that far.

Real fiscal reform that’s long lasting is what’s needed, and it simply means the government stops spending and stops casting smaller increases as “cuts” in the budget.

This article is, in our opinion, a semi-fabrication in service of a political agenda, and it’s a drumbeat the NY Times has been playing for a while now . It’s goofy on its face — if the super rich want to be taxed more, they can simply send the IRS more money.  But they don’t.  So how serious can this be?

Why the health care law is on the way out

The Court Explains it All

WSJ has an explanation of the recent decision by the 11th Circuit Court of Appeals that makes it plain why the health care law is flawed on Constitutional grounds.  It’s really a monumental power-grab-by-precedent if allowed to stand.  Here’s the money quote from what article authors Rivkin and Casey call “the most comprehensive judicial opinion to date.:

The court’s bottom line is this. Congress cannot use its power under the Commerce Clause to eliminate distinctions between national and local authority, reducing the states to administrative units that implement federal policies and programs. Here, the opinion explained, “[a] state’s role in safeguarding the health of its citizens is a quintessential component of its sovereign powers.” Health care, and health insurance, are areas of traditional state concern where states enjoy a broad police power.

via WSJ.com

Barack Obama and Alinsky’s Rules for Psychopaths

Interesting, and thought-provoking article in American Thinker. Archived-Articles: Barack Obama and Alinsky’s Rules for Psychopaths.