Scanning today's headlines brings us gems.
A sluggish housing sector drags down the transportation sector. You know how economists have been saying that housing recoveries typically lead recoveries from recessions? Here's what we get when that doesn't happen. There's no recovery folks!
The Teamsters tried to get two underperforming truckers to merge. See what happens when unions get too much power? They try to foist disastrous strategic decisions on their employers. I have no idea why any executive team would take a Teamster proposal seriously after seeing them try a stunt like this.
Uncle Sam's DOT is sending big bucks to the states for transportation. It's too bad that most of it goes to road projects. Rail and barge traffic is much more economical and energy efficient in moving tons per mile.
The U.S. and South Korea are almost free trade partners. There is more to this deal than meets the eye. America desperately needs to prevent Asian countries from falling into China's orbit as its military supremacy wanes. Kicking open a free trade door with an Asian tiger is one way to maintain a regional foothold.
U.S. lawmakers want to continue handouts of all kinds, whether tax cuts or jobless benefits. Stupidity still grips Capitol Hill. Our nation's leaders will never wake up to the unsustainability of deficit spending. Working on Capitol Hill must be like living inside a bubble, where the unpleasant realities of the outside world never intrude.
Unemployment is finally catching up to college grads. Now a whole bunch of liberal arts grads can learn their most important lesson in life: A bachelor's degree in anything except a hard skill is worth nothing. That degree in women's studies will come in handy when you're panhandling as long as you show some cleavage.
China raises the reserve requirement for its banks. This is what we should have done with our own banks! Once again China shows the world why it is a more responsible custodian of capital. Let's see if China has the guts to allow some overleveraged banks to implode.
