The family is the nucleus of civilization.
Will Durant
Maryland Politics: Question 7 attacks on Opponents
I usually don't get involved in the minutiae of state propositions, but on free market principles I don't like artificial constraints and corrupting crony issues on things like gaming. Question 7 is being sold on jobs and tax revenues tied to state education; businesses don't like paying unnecessary costs, so anyone knows the real story is revenues and profits, so the gaming interests behind question 7 are hypocritically pointing at out-of-state competition:
MGM Resorts International, which reached an agreement this summer with developers at National Harbor to build a resort casino should their site be chosen, has given $2.4 million to a pro-casino campaign committee, For Maryland Jobs and Schools.
Penn National Gaming Inc., which owns Hollywood Casino Perryville and Hollywood Casino at Charles Town Races in West Virginia, as well as another potential Prince George's casino site, Rosecroft Raceway, has given $5.5 million to the Vote No On 7 committee.What would motivate Penn to oppose Q7? Baltimore Sun explains
We don't know whether adding a third mega-casino in the Baltimore-Washington corridor would over-saturate the market, but we have already seen signs that the appetite for gambling in Maryland is not infinite. Hollywood Casino in Perryville — owned by Penn National, the same people spending millions on the anti-Question 7 ads — has seen a major drop in revenue since Maryland Live opened at Arundel Mills.Why does the Sun oppose Q7?
In reality, Question 7 is a massive giveaway to the casino owners at the public expense. It guarantees steep tax cuts for most of the state's casinos and allows the possibility for even greater reductions in the future. The Department of Legislative Services estimates that the casino owners stand to reap a $525 million windfall if Question 7 passes.Mainstream Media Pumping
I subscribe to a number of news alert services and I have noticed that CNN goes out of its way to spotlight pro-Obama or anti-Romney news- it may be the latest poll Or say, an upbeat economic report which feeds into the Obama talking point that the economy is improving . For example, this morning there was an alert on housing sales in 20 cities.first, most investors are aware that home builder stocks have done well this year; in part, over 100M people are still employed, it's a buyers' market, people are always buying and selling homes, and mortgage rates are cheap. It depends on the nature and extent of sales . For example, some REIT's are buying houses on the cheap,and then converting them into rentals.
I'm not going to be contrarian for its own sake. It's difficult seeing wages pushing up in a weak economy with millions un- or underemployed and the Fed knew about these numbers before announcing QE3 forever.
Sunday Talk Soup Talking Points
I still have a hard time listening to unchecked political spin,but I listened today to older MTP and FNS podcasts. I liked Gingrich pushing back on this talking point about the alleged extremist GOP pro-life plank He raised the point of Barack Obama stonewalling the born alive infant protection act in Illinois. I felt he should have pointed out there was a federal version that passed without a dissenting vote.
Then there was this bogus talking point over an alleged failure on Romney's part refuting Obama''s ludicrous talking point scapegoating GOP policies for the economic tsunami; first of all, banking has almost never been laissez faire. Second, conservatives haven't been in favor of loose money, "too big to fail", or government guarantees and subsidies, and Obama has built on Bush's record of superspending and regulatory growth. Middle East/Gulf Region meddling and erosion of civil liberties, and government/regulatory failure. Obama reappointed Bernanke. .
Political Humor
Congratulations to Mitt Romney and President Obama. They both won Emmys for their performance on "60 Minutes" last night. Obama won for acting as if everything has gotten better over the last four years, and Romney won for pretending to care about that other 47 percent. - Jay Leno
[Not only did Obama win lead actor in a comedy series for playing President but Biden won best supporting actor for the fourth consecutive year. Clint Eastwood's Chair Obama won for guest appearance.]
The president's re-election campaign slogan is "Forward," which is also his policy on paying for stuff. - Jay Leno
[Which is how our Chinese creditors got the Romneys' home number.]
HT Carpe Diem
Musical Interlude: My Favorite Groups
ZZ Top, "La Grange"
