Maine News…

Posted: 18/09/2008 in Uncategorized
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Today’s weather….

News and commentary…

The Portland Press Herald has an interesting article regarding the proposed creation of another “Historic District” within that community. Opponents seem to claim that it will only add another layer of already burdensome bureaucracy and force changes they do not wish to adhere to, as well as restrict them from amking changes they wish to make. Also in that paper is Gambling on heating oil cost: Buy now, or wait a bit? The average price has fallen 89 cents over two months and signs point to further decreases and Maine getting $7 million to help poor pay heating costs The Bush administration has announced that it will release $121 million in emergency funds.

A behind the scene article in the Sun Journal reports Price for road salt spikes 30 percent “A 30-percent spike in the cost of ice-melting road salt could have Central Maine communities rationing their supply once again this winter.” With diesel fuel still at $4.00 plus per gallon, how much is it going to cost for clean roads this winter? Way more than we can afford, I’m betting. I predict many towns running out of road cash by the end of January. The next climb in energy prices after the election will be certain to kill the budgets of most, if not all communities. And the predictions from many almanacs that this will be a long cold winter will not help matters much.

On a National note, the economy continues to be the center of attention. The Houston Chronicle leads the discussion with “Bailouts may signal end of U.S. era; Change in policy stuns economists at home, abroad.” Is the United States no longer the global beacon of unfettered, free-market capitalism? “In extending a last-minute $85 billion lifeline to American International Group, the troubled insurer, Washington has not only turned away from decades of rhetoric about the virtues of the free market and the dangers of government intervention, it has also probably undercut future U.S. efforts to promote such policies abroad.” Apt statement pretty much summarizing our decline into the Socialist kettle of lard, simmering over the fires of Hell.
The LA Times provides Financial crisis deepens amid fear of continued stock dive; Wall St. tumbles again as global credit freezes up and more faltering firms seek saviors. “The global financial crisis deepened Wednesday as stock prices cratered and credit markets seized up, teetering financial institutions sought salvation in buyouts and government officials scrambled to find a way out of the mess.” Kind of funny that when Joe Blow runs out of money, nobody helps him, but when Stevie the trailer park wonder has a problem the Dems are right there with a check. Why in hell did the Fed’s bail AIG out of the hopper? It’s a private company, and the public has no requirment to bail out a failed private company.
Wharton seems to be the only one heading in the right direction with Will the Levee Break? An Ocean of Bad Debt Rises despite Fed Rescues. “Despite government rescues of Fannie Mae, Freddie Mac and insurance giant AIG over a 10-day period that may change the world of finance, the flood of bad debt will not subside anytime soon, according to four Wharton professors who took part in a panel this week on the still-unfolding financial crisis.”
But the decline in the economy isn’t just relegated to the Wall Street moguls, it affects everybody. The Media Post reports Bad News, Everybody! More Hits for Newspapers, “Market woes hit the industry–again. Newspapers took another round of blows this week with tandem announcements of more job cuts at McClatchy, an employee lawsuit at Tribune and the likely closure of the Newark, N.J.-based Star-Ledger in January.” It seems as though there are problems in print around the nation.
But then, McCain say’s “The Fundamentals of Our Economy Are Strong” in a Moneybox article. The piece opens with “John McCain set off a firestorm Monday when he said, “The fundamentals of our economy are strong,” while also noting that these are tough times. McCain, for whom the economy is not comfortable terrain, was simply repeating a formulation he’s used before. In August, he told radio host Laura Ingraham, “I still believe the fundamentals of our economy are strong. We’ve got terribly big challenges now, whether it be housing or employment or so many of the other—health care. It’s very, very tough times.” But actually, John McCain is right. The fundamentals of our economic system are right. The problem is that the Dems are so busy implementing governmental controls and increasing taxes that business in this country is becoming unprofitable, so it leaves it to those irresponsible mavericks that use unwise tactics and run away when a problem develops because of it.


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