Two quick head-scratching items this morning.
According to Fox News online “The White House insisted Sunday the consequence for Americans not having health insurance is a penalty fee, despite the Supreme Court ruling that it is a tax and said the debate on the Affordable Care Act should finally end.”
I think that’s a pretty amusing approach, first because even if you call the fee “Curly,” “Moe” or “Larry” it’s still a TAX and the administration certainly knows that. Secondly, I don’t think folks are going to care what the tax is called when they're forced to pay it, they’re just going to be mad as hell and vote for Romney. So, in that regard, the debate hasn’t even started.
Then I noticed an article from Reuters noting that “Oil surged on Friday in heavy trading to the fourth biggest daily gain on record, as a deal by European leaders to shore up euro zone banks triggered frantic short-covering by funds that had been riding crude's price collapse over the last quarter. Despite the sharp gains, both international benchmark Brent and U.S. oil futures posted their biggest quarterly declines since the fourth quarter of 2008 due to weak demand, ample supply and economic worries.”
What’s confusing to me about this one is that “weak demand, ample supply and economic worries” haven’t changed for the better, and in fact may now be worse. So why throw good money on top of existing losses which likely will get worse?
However, the really horrible shame of the matter is that all us innocent victims will be paying for these bad speculating bets at the pump.
That’s it for today folks.
Adios
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