Washington: From SOPA to the Debt Ceiling
by Addison Wiggin: Could
a Tea Party Occupy Wall Street?
to crawl the Internet today without running across something like
several other sites are blacked out to protest the Stop
Online Piracy Act, or SOPA an odious piece of legislation
that would allow domain names to be erased from the web without
due process of law.
run afoul of the bills copyright provisions an incredibly
easy thing to do and the home page of your website might
look something like this:
Block by US Authorities
Not that this
is deterring members of Congress determined to get the bill passed.
the Republican and Democratic retreats taking place over the next
two weeks, says its sponsor, Rep. Lamar Smith (R-Tex.), markup
of the Stop Online Piracy Act is expected to resume in February.
D.C. versus Silicon Valley in the SOPA fight, observes colleague
Greg Grillot. You have Google, Mozila, Wikipedia, Reddit,
Firefox and Boing Boing against it. And how many D.C. shills for
a true war: the last bastion of creative/productive ingenuity in
America versus the swamp of D.C.s parasitic, industry-conflicted
Is D.C. winning?
Census data revealed Washington moved past San Jose as the wealthiest
U.S. metropolitan area.
we see the House will likely vote today against raising the debt
ceiling, which Uncle Sam is once again hitting.
symbolic: Under the debt-ceiling deal reached last August, the president
need merely notify Congress that hes going to raise it; its
up to both houses to vote against it. With the Senate under the
control of the Democrats, that wont happen.
The $1.2 trillion
increase coming soon should be enough to tide over Uncle Sam until
oh, right around Election Day. And that increase would have to be
passed the old-fashioned way.
Washington has spent the last year (and much of the last quarter-century)
fighting about the national debt, most of our leaders have blithely
ignored Americas staggering level of household debt,
writes American University history professor Andrew Yarrow.
Time was Americans
observed National Thrift Week along with Ben Franklins birthday,
which was yesterday. Now Americans are once again raiding their
savings to get by.
ominous sign for Americas economic growth prospects,
Reuters reported yesterday, with no reference to Ben Franklin, workers
are paring back contributions to college funds and growing numbers
are borrowing from their retirement accounts.
savings rate has fallen back to December 2007 levels right
when the official recession began.
with permission from The Daily
Wiggin [send him mail]
is the editorial director and publisher of The Daily Reckoning.
He is the author, with Bill Bonner, of Financial
Reckoning Day: Surviving The Soft Depression of The 21st
Century and the upcoming Empire
of Debt. His
latest book is The
Demise of the Dollar...and Why It's Great for Your Investments.
© 2012 Daily Reckoning
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