The Friday (Saturday) Five
1. The Republicans in the Kansas Legislature are blowing it in regard to education. All they talk about is the court is overstepping its authority (which it is). All Kansans are going to hear is "the court ordered more money for schools, the Governor wants more money for schools, and the Republicans don't want to fund schools." As I pointed out earlier this week, even certain State Reps. don't understand the seperation of powers, how do you expect the fine points of an arcane issue like that to resonate with voters. If Republicans want to win this issue they need to focus on talking about the children and what will be in their best interest.
2. Democrats in Congress are going to blow Social Security. The Republicans are beginning to put out real proposals on Social Security and they sound pretty good. This week they gave some options including reducing benefits for the rich balanced with increased tax benefits from saving, so those who can support themselves have an incentive to do so while those who can't receive help from the government. The Republicans also finally realized that they should be talking about funding private accounts using the Social Security surplus. This is the first time a real "lock box" has ever entered the discussion in Washington, actually it would be 280 million little lock boxes but unlike the one big one, they would all actually have locks on them and Congress wouldn't have the keys. The Democrat response: no plan, just political talk. The Dems are going to lose this one.
3. Oil hit $60 per barrel, and it isn't because of hedge funds. Oil is at $60 because of 20 years of Chinese development towards a free market economy and 30 years of US complacency.
The good news is that at $60 oil may be expensive enough to stimulate private entrepreneurs to profitably produce new oil saving technologies.
4. In the last week two very different people, both of whom I respect a lot, have praised Jim Cramer's Mad Money on CNBC. One thinks Cramer is really talking about core strategic issues and the economics of the businesses on his show, the other thinks Cramer has the pulse of the market and produces great trading ideas. Either way, CNBC plays the show three times a day so it is easy to catch.
5. Last week I did it, I switched to Fire Fox. It was easy to do, and the tabbed browsing and ability to open a whole section of your favorites makes it a great product for anyone who reads a lot of news, or a lot of link heavy blogs.
timothyb@timothyburger.com
