The splendidly-named blog The Economic Collapse (crossposted on the acerbic Zero Hedge) has a not-to-be-missed account up right now entitled “You Know Your City Has Become a Hellhole When. . .,” chronicling the frontline of the crisis of the welfare state, namely local government that are in free fall. Among other factoids, the post notes that 72 percent of American cities are laying off employees this year. The real subtext of Obama’s jobs bill is that it is a desperate attempt to provide some kind of bailout for local governments.
Meanwhile, some clever person has had a great deal of fun with Elizabeth Warren, as seen in this video. Enjoy! Have a great weekend.