What A Day

A new IMF report blithely forecasts that the "Age of America" will end as the U.S. economy is overtaken by China by 2016.

·        China Proposes To Cut Two Thirds Of Its $3 Trillion In USD Holdings leaving us to wonder who will buy our bonds if China cuts them loose?  As the Feds "buy" more and more of U.S. debt, the dollar is steadily devalued.

·        With gas prices climbing to $4.00/gallon and after Shell Oil has spent 5 years and $2 billion to drill in the Arctic Ocean,  EPA idiocy in withholding air permits is forcing Shell to abandon drilling.  Obama needs to investigate the EPA rather than attacking oil companies and "speculators.

·        And in the latest example of thugs in the White House, Obama is proposing an executive order requiring a company or its executives to disclose political contributions over $5000 in order to qualify for a federal contract.  (But of course big labor will not have to disclose its vast contributions.)  This is much worse than the much criticized Nixon "Enemies List" .  Businesses hoping to win federal contracts  will be  very intimidated about showing up contributing to Republicans.

Can't wait for 2012.

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