GDP FOR Q1 2010 REVISED DOWN TO 3.0% FROM 3.2%

For the story, go here. An additional and final revision is still forthcoming.

Growth of 2.5% is necessary, according to widely reported statements by the Federal Reserve chairman and others, to maintain the status quo in employment and absorb the new workers who are added to the population every year.

In other words, there is no growth engine presently at work effectively providing jobs for 8.5 million people sidelined by the recession, not to mention millions more involuntarily part-timed by the downturn. 

GOLD AND THE U.S. MONETARY BASE, THEN AND NOW

Interesting stuff from Brett Arends two days ago at The Wall Street Journal:

Dylan Grice, a strategist at SG Securities in London, thinks global conditions today could unleash another gold boom like the one in the 1970s. ... Mr. Grice calculates that even at today's prices, the bullion that the U.S. government holds in places like Fort Knox is still only worth enough to back 15% of the U.S. monetary base. That is near a record low.

At the peak of the gold mania in 1979-80, gold prices rose so far that the backing exceeded 100%. How far would gold rise if that happened again? To around $6,300 an ounce, Mr. Grice says.

Read all about it, here.

OUR DISLOYAL ANTI-AMERICAN PRESIDENT

From Jared E. Peterson at The American Thinker:

Over the past week we witnessed presidential and congressional disloyalty without precedent in American history, events that should be indelibly imprinted on the American electorate's collective memory. For the first time (at least to this writer's knowledge), a foreign head of state who is promoting an ongoing, aggressive, illegal, and often violent invasion of America came to our country, met with our president, and, from the White House itself, received our president's implicit but obvious public support for that invasion; and that same foreign leader spoke to Congress and received a standing ovation from its Democrat members' for his country's war on America's borders.

Read the rest here.

UDAY AND QUSAY ARE BY NATURE EADDAY NYUK NYUK

Not only can no one spell in the United States, they're having trouble with the Greek Sigma in the word "by nature" from a line from Aristotle on the new glass door at the Department of Classics at the once venerable Cambridge University.

So far George Bush hasn't been blamed, but Mary Beard may yet get around to it, when she's done blogging about buggering in Catullus.

32 STATES OWE FEDS NEARLY $38 BILLION FOR UNEMPLOYMENT BORROWING

The billion dollar hitters include twelve states:

California       6.9 billion

Florida            1.6 billion

Illinois            2.2 billion

Indiana           1.7 billion

Michigan        3.9 billion

New Jersey     1.7 billion

New York        3.2 billion

N.C.                  2.1 billion

Ohio                 2.3 billion

Penn.               3.0 billion

Texas                1.0 billion

Wisconsin       1.4 billion


The data were reported here.

FEDS RELENT: HUTAREE MILITIA RELEASES BEGIN

"Three of nine members of the Lenawee County-based militia charged with attempting to overthrow the government were released yesterday from Detroit-area jails," reports The Toledo Blade today. Defense attorneys do not seem to know why the government suddenly changed its mind about the conditions of release stipulated by Judge Roberts earlier in the month.

They have to wear electronic tethers, live with relatives in a weapon and ammo-free environment, cannot get gun permits or passports, drink booze, use drugs, listen to police scanners, and can't go out except to the doctor, to church, court and law appointments, and to work, among other restrictions.

The other six remain jailed pending decision on their release, presumably until similar arrangements for them are in order.

Read all about it here, here, and here.

WHAT DO YOU FEEL WHEN YOU SHOOT A TERRORIST?

Recoil.

"Politics Is Like A Cookbook Where The Recipe For Everything Is To Fry It"

Everyone should be so lucky to have advice from the inimitable P. J. O'Rourke. A couple of years ago he offered some of the bad kind to new graduates, which appeared in Change: The Magazine of Higher Learning. The excerpt on politics is rich. Well, maybe greasy is a better description:

Politicians are chefs, some good, some bad. The problem isn’t the cook. The problem is the food. Or let me restate that: The problem isn’t the cook. The problem is the cookbook. The key ingredient of politics is the belief that all of society’s ills can be cured politically. This is like a cookbook where the recipe for everything is to fry it. The fruit cocktail is fried. The soup is fried. The salad is fried. So is the ice cream and cake. The pinot noir is rolled in bread crumbs and dunked in the deep-fat fryer. This is no way to cook up public policy.

Politics is greasy. Politics is slippery. Politics can’t tell the truth. But we can’t blame the politicians for that. Because just think what the truth would sound like on the campaign stump, even a little bitty bit of truth:

“No, I can’t fix public education. The problem isn’t funding or teachers’ unions or a lack of vouchers or an absence of computer equipment in the classrooms. The problem is your kids!”

Read the rest. You won't be disappointed.

Pew Poll Says Americans Overwhelmingly Support Arizona Immigration Law

A new poll from the Pew Research Center on the recently passed immigration legislation in Arizona shows that Obama and the Democrats, who vehemently oppose the law, are wildly out of step with 73% of the American people:

The public broadly supports a new Arizona law aimed at dealing with illegal immigration and the law’s provisions giving police increased powers to stop and detain people who are suspected of being in the country illegally.

Fully 73% say they approve of requiring people to produce documents verifying their legal status if police ask for them. Two-thirds (67%) approve of allowing police to detain anyone who cannot verify their legal status, while 62% approve of allowing police to question people they think may be in the country illegally.

I wonder what percentage of the American people would like Obama to produce his papers?

Beware Of Greeks Defending TARP

James Pethokoukis of Reuters actually defends the fact that American politicians have ROBBED the taxpayers, always the last in line for money, to rescue the bankers, who are always first:

Of course, voters should be skeptical of paying for other people's financial mistakes. But it seems short-sighted for them to penalize politicians when they actually do something that's unpopular but right. And the TARP bailout does seem to have been the right thing. Despite its high sticker price, the final cost to American taxpayers will likely be a fraction of that thanks to speedy bank repayment of government capital injections.

Yeah. Speedy repayments. Sort of like GM's with TARP funds. If they could do it so quickly, maybe you overestimated the gravity of the original problem, and discount now how banks' profits are made possible by capital from the taxpayers.

Maybe it's because of what Spengler has recently observed about the Greeks, James:

[C]orruption pervades Greek society to the point that to purge it would destroy the social fabric: all political and social relations are premised on corruption.

You may be willing to justify theft, but the voters in Utah don't accept accommodation with corruption, throwing out Senator Bennett in the Republican PRIMARY. And now the voters in West Virginia have joined them, throwing out Representative Mollohan in the Democrat PRIMARY. All this after Germans just voted against Angela Merkel last Sunday after agreeing to bail out the Greeks.

Do you see a trend here, James?

Better get used to it.

The Fault Is In Ourselves . . .

. . . that we are underlings.

-- Shakespeare, Julius Caesar, Act I, Scene II

Joseph Addison on justice

Justice discards party, friendship, kindred,

and is always therefore represented as blind.

--  Joseph Addison

The Tyrant's Friends

When I have most need to employ a friend,

Deep, hollow, treacherous, and full of guile,

Be he to me.

Shakespeare

[e.g. Bill Ayers, Rahm Emanuel, Nancy Pelosi, Harry Reid, and Bart Stupak]

Alexander Pope on Slavery

First slave to words, then vassal to a name,

Then dupe to party; child and man the same.

Fools grant whate'er ambition craves,

And men, once ignorant, are slaves.

The Good Olde Days

When George W. Bush co-opted conservatism for a season,

entangled the country in costly foreign adventures,

pandered to illegal immigrants and the businesses who hired them,

expanded the welfare state to secure the votes of seniors,

exported American jobs because of his free-trade zealotry,

routinely slaughtered the English language and generally spent money like a drunken sailor,

we didn't know how good we had it.

"Menopause Was Change Enough For Me"

In "Moms to the Barricades," which appeared here, Michael Graham explores the idea that mothers' instincts to protect their children and their futures help explain the Tea Party Movement:

Moms like Karen Miner Herd, who calls herself "one of the founding mothers" of the tea party movement in Virginia.

Her favorite tea party sign? "Menopause Was Change Enough for Me." ...

Dana Loesch, talk host and co-founder of the St. Louis tea party, believes the tea party movement is the modern conservative version of "the personal is political."

"Motherhood itself has become a political act," says Ms. Loesch. "And the tea parties are an extension of our need as moms to protect the future for our children."

Keli Carender isn't a mom, but the Seattle-area 30-something is the mother of the tea party movement. She held the very first rally of the modern tea party era to protest the so-called stimulus package, days before Rick Santelli's infamous CNBC rant.

Read the full article at the link above.

Hutaree Militia Release In Almost Comic Limbo

The Detroit News is reporting an almost comical series of developments involving the bond proceedings for the Hutaree militia members who thought they were going to be freed this week pending trial.

Prosecutors appear to be so upset with U. S. District Judge Victoria Roberts, who decided the Hutaree could be free with conditions, that Assistant U. S. Attorney Ronald Waterstreet seems to have misrepresented those conditions in his appeal of the release ruling to the U. S. 6th Circuit Court Of Appeals.

One defense attorney is quoted as saying, "Obviously, Waterstreet has completely misrepresented what was discussed with pretrial services."

Read all about it, here.

On The Rarity Of Wisdom

"That wisdom does not come naturally to the elderly any more than it does to anyone else is proven by the ubiquity of old fools."

-- Imam John

Hutaree To Stay In Slammer At Least Until Friday

As reported by The Detroit News:

A federal appeals court temporarily halted the release of nine Hutaree militia defendants today, just moments before they were scheduled to be set free.

"The order of revocation is temporarily stayed pending further review and order of the court," the U.S. 6th Circuit Court of Appeals said in response to an emergency motion from federal prosecutors in Detroit.

The effect of the order is that none of the defendants will be released before Friday. The court said lawyers for the defendants are to file briefs opposing the stay by 5 p.m. today.

Read the whole thing here.

Illegals For Redistribution! Illegals For Violence!