Daily Archives: September 2, 2010

Quote of the Day – From Stephen Hawking…

“Because there is a law such as gravity, the universe can and will create itself from nothing. … It is not necessary to invoke God to light the blue touch paper and set the universe going.”

– Stephen Hawking in his new book.

So the Universe can be created without God. Terrific.

Looks like there won’t be a double-dip recession after all…

…and previous home and retail sales bounced up in July. Maybe we jump to conclusions much too quickly. This from Reuters:
clipped from news.yahoo.com
Pending sales of previously owned U.S. homes rebounded unexpectedly in July and new claims for jobless benefits fell last week, helping quell fears the economy could face a double-dip recession.

The data released on Thursday, including sturdy sales from U.S. retailers last month, followed a report on Wednesday showing a surprising gain in manufacturing and suggested the economy retained some underlying strength.

“This is an economy that has hit a soft patch. It’s not an economy that appears to be heading toward a double-dip recession,” said Brian Levitt, an economist at Oppenheimer Funds in New York.

Investors appeared to agree that fears of a double-dip recession might have been overdone as they sold U.S. government debt for a second straight day and bought stocks. The broad Standard & Poor’s 500 Index (.SPX) ended up 0.91 percent.
The National Association of Realtors’ Pending Home Sales Index, based on contracts signed, rose 5.2 percent in July from June.
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They’ve started in on the new Shepherdstown Town Hall…

Actually, the first stage, demolishing the old building, has now started. I saw the Mayor out discussing things with the workmen after post radio show coffee this morning. Here’s what the start of the process looked like:

It will be nice to get a new Town Hall… the old one was pretty ugly.

This has me pissed off…

From McClatchy:
Democrats unlikely to repeal tax cuts for the rich

clipped from www.mcclatchydc.com
Democrats in Congress are poised to play a leading role this month in thwarting their party’s effort to raise income tax rates on the wealthy.
Tax cuts enacted in 2001 and 2003 expire at the end of this year. President Barack Obama and Democratic congressional leaders have been eager to extend the breaks for individuals who earn less than $200,000 annually and joint filers who make less than $250,000. Those who earn more would pay higher, pre-2001 rates starting next year.
However, a small but growing number of moderate Democrats are balking at boosting taxes on the rich. Many face electorates that recoil at the mention of any tax increase. Some represent areas that are loaded with wealthier taxpayers. Further, some incumbent senators who don’t face voters this fall are reluctant to increase taxes on anyone while the economy remains sluggish.

Without their support, the push to raise rates on the rich probably will fail.

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Sitting with John at WSHC…

I’m doing Winners And Losers with John Case this morning… mostly because I needed to pick up the studio key (I’m subbing for John tomorrow and Monday…Labor Day).

Listen in…89.7 FM (or online at http://www.897wshc.org).