EPA Issues More Rules It'll Have to Defend In Court
Based on recent evidence the EPA is not doing so well in court. These new rules will attract suits and be tied up, and a Republican President will one day kill them off.
Manny Mota...Mota...Mota (OK, not a helpful title...this blog is mostly about Economics, the Markets, Politics...and during the football season also about the New York Giants)
Democrats made a mistake by passing President Barack Obama’s health-care law in 2010 instead of focusing more directly on helping the middle class, third-ranking U.S. Senate Democrat Charles Schumer said today.
“Unfortunately, Democrats blew the opportunity the American people gave them” in electing Obama and a Democratic Congress in 2008 amid a national recession, Schumer of New York said in a speech in Washington. “We took their mandate and put all our focus on the wrong problem -- health care reform.”
I don't buy his argument because it's not a very good one. Corn and soy futures are down? So what. This has no bearing on whether your chicken or corn flakes prices are going to be lower in the future. Supply and demand dictate prices, not input costs.Check this out from Brian Wesbury today on the latest producer price numbers:
Producer prices surprised to the upside in October versus consensus expectations for a slight decline due to falling energy prices. The gain in overall producer prices was all due to the services sector, where prices rose 0.5%. Oddly, about half of the gain in service prices was due to refiners generating fatter margins while the energy prices fell. In other words, the drop in energy prices did not get fully passed on to users.See that "odd" bit? Supply and demand allowed producers to capture lower input costs for themselves, the lower commodity costs didn't make it to the consumer. Thoughts on that Ron?
Now, granted I am not in on the progressive scene, but I see none of this happening on the left. There doesn't appear to be any tug of war, there is only one theme - voters are dumb and Obama didn't communicate his awesomeness properly. Nobody is saying, "we ought to rethink our policy agenda." And I am thrilled to see it. This guarantees years of wasted time and futile efforts. Obama can redouble his communication efforts all he wants and it won't do a lick of good, it might even add to the damage that the Democrats have suffered. There is no demand for what he and the Pelosicrats are selling and what they stand for. The sooner they realize this, the sooner they'll be competitive again. Don't hold your breath, the Blue Dogs have been wiped out and the Democrat caucus is as far left as ever. The Moderate Democrat will have to be built up again from scratch, marketed and sold along totally different lines. That will take time, but first it must take desire.