Texas is now the US’s second-largest economy

Amplify’d from www.usatoday.com

Texas became the USA’s second-largest economy during the past decade — displacing New York and perhaps heading one day toward challenging California — in one of the biggest economic shifts in the past half-century.

The dramatic realignment of the nation’s economy was illustrated by North Carolina, Virginia and Georgia all overtaking one-time industrial powerhouse Michigan in economic size from 2000 to 2010. The economic winners of the last decade are states that focus on raw materials, government and senior citizens. The big losers are places that make things — industrial states and even California. Read more at www.usatoday.com

 

See this Amp at http://amplify.com/u/a15mt1

Capping executive pay

In contrast with some of my fellow conservative bloggers, notably Owen (and observe the extent of the comments). I’m a conservative, I understand their opposition, yet I find myself agreeing with Roger Simon at Politico.com.

President Barack Obama is on the right track with his plan to cap at $500,000 per year the salaries of Wall Street big shots who get federal bailout money. But he is off by $499,999.99.

There is no reason for taxpayers to continue to reward unlimited ignorance and unbridled greed. These Wall Street firms were run into the ground by financiers who were too stupid to understand the true risks of what they were doing and too greedy to stop doing it.

And now they deserve a half-million dollars a year? Some of them deserve six to 12 in Allenwood.

The bottom line for me is, they’re taking the money, the government can set the terms now.

Waukesha Carnival – Super Bowl XLIII edition

Let’s get right into this week’s Super carnival. As usual, these are my choices, although you are certainly free to put yours in the comments.

Let’s start with posts about what’s going on nationally. At Practically Speaking, Kyle Prast wonders if Republicans will say no to pork. The governors seem to have capitulated with a couple of exceptions.

Tom Gehl also gives us some plain talk on the “stimulus” package over at Brookfield Basics.

In a related story, the Asian Badger has some thoughts on that CITI bank jet.

Silent e speaks and points out a little hypocrisy at the White House.

Cindy Kilkenny had a proposal on “Drill Here, Drill Now” at Fairly Conservative. The expected result?

Tax revenue and a move towards energy independence from one simple decision.

Sounds simple to me. Cindy also thought that long term contracts such as the one Charlie Sykes recently signed should put an end to talk about the Fairness Doctrine. I disagree, but linked because of the discussion generated.

Dad29 gives us a snapshot of an entitlements catastrophe in the wings. And he kicks off the posts on Wisconsin section by helping Judge Koschnick in adding to the list of Abrahamson “activist” decisions.

Sen. Mary Lazich says the taxpayers deserve answers on Wisconsin Shares. You can read her post at Conservatively Speaking.

Rose Fernandez is getting serious about blogging and posts a few questions and answers. She’s blogging at her campaign web site Change DPI.

Over at Wigderson Library & Pub, James Wigderson looks at the Wisconsin Department of Public Instruction race and Dr. Van Mobley’s stands of some issues like increasing the sales tax (to offset a cut in property tax).

The best post on Gov. Doyle’s State of the State speech can be found at Spring City Chronicle, where our good friend Huckleberry Dumbell uses the technology of the “internets” and Google Translator to sort it out.

Randy Melchert, whom I’m adding to the blog roll soon, has a report on a pro-life demonstration in Madison and has video.

Within Waukesha County, Jeff at Five Points Blog informs us of a new direction for the blog and the addition of a co-blogger. Since it is now devoted to eating, drinking and recreation in Waukesha, if you would like to blog there, get in touch with him.

Alexander muses over at A Little Off Main about traffic control at five points during special events. While they’re at it, Alexander would like another “five points” intersection looked at.

Mayor Larry Nelson has published another in his series of Mayor’s Memos. Sure looks busy. Maybe he’s trying to convince us he’s worth all that money we’re paying him.

Linda Richter at Inside New Berlin lets us know about some voter forums taking place for various New Berlin offices.

Bryon Houlgrave has several new pictures posted but I liked this one best because it reminds me there are only 11 days until pitchers and catchers report.

James Rowen at The Political Environment congratulates Waukesha for cutting water consumption, but raises a question on the diversion sought.

Darryl Enriquez posted about a fight at the men’s homeless shelter downtown which started quite a discussion in the comments at Waukesha FYI.

The anonymous blogger at Ocono.com seems to object to Huckleberry’s characterization of their fair community in a recent post.

Scott Feldstein shares his frustrations with video news, especially on the CNN.com site.

That’s the end of this week’s super carnival. As always you can leave a comment suggesting a post for this week or next week’s carnival. Or you can e-mail them to me at thoughtfulconservative [at] yahoo [dot] com.

Budget Office predicts $1.2T deficit

From David Rogers at Politico.com

The Congressional Budget Office released a grim forecast Wednesday for the coming year that projects a federal deficit of almost $1.2 trillion in 2009 as revenues fall off and housing prices continue to decline even as unemployment rises.

The jobless rate will exceed 9% early in 2010, CBO says, and even then the recovery will be sluggish with GDP growing by only 1.5% — not enough to match the 2.2% contraction this year.

Which, naturally, will be blamed on Bush and the failed Republican policies.

Iran mulls financial bailout as stock market falls

From the Los Angeles Times,

A key index has fallen more than 2,000 points as businesses are hit by flagging oil and commodities prices. An ailing economy could hamper President Ahmadinejad’s prospects in June elections.

Poor Ahmadinejad. NOT.

Pressure on the US dollar to continue

Via Kyle Prast, comes an article titled, With Billions in Bailout Funds Flowing, the “Peso-fication” of the Dollar Continues.

The plethora of bank and corporate bailouts, stimulus plans and interest-rate cuts that the U.S. government has produced over the last three months can only lead to one outcome: The U.S. dollar has to decline.

Read the whole article.

Says Ms. Prast, who notes she might go into the wheelbarrow business,

Our government acts like they can give out billions of bailout and stimulus money with no consequences.

But history tells us no economy can thrive by printing up and passing out dollars. It did not work for Germany, where you practically needed a wheelbarrow to hold your Marks to buy a loaf of bread. “In 1914 one egg cost less than one mark. Nine years later an egg was 80,000,000,000 (eighty billion marks).”

Wheelbarrow, anyone?