Short Takes

A few short observations.

I just heard that US test scores in Math and English Reading have again dipped to the lowest levels ever. We are raising a nation of morons and idiots and no one is doing anything about it.

The drop in payroll taxes instituted in 2008 to ease the growing economic crisis is scheduled to be continued if the jobs bill passes. It's great for the workers, but that is your future Social Security money which isn't being paid into the system, so if one day, you don't collect your Social Security, blame it on this. The truth is that there is no free lunch.

A European official came up with the draconian idea (that is how it is being styled) of separating commercial banking from investment banking. It's no different from Glass-Steagall which turned out was one of the best ideas for keeping the banks from risking your money. To now consider this revolutionary (it was enacted in 1935 and repealed in 1997) is ridiculous.