Cold reality splashes in…

A lot of wakeup calls today.

For the millenials, the WSJ points out that while it’s ok to vote for Hope-and-change, if that “change” impacts mom & dad’s spare change – well, it all rolls down hill and directly impacts YOU. Mom and dad have less money? There go the paid-for-college-educations, the pools in the backyard, the generous interest free loans for the downpayment for the first house…

“In the long run, the drop in parental aid could make young adults a more financially resilient generation, like children of the Great Depression…

Angelica Hoyos, a 26-year-old living in Los Angeles, has put her photography and sculpture career on hold since her parents pulled the financial plug earlier this year after the family’s granite-countertop business suffered. Ms. Hoyos has moved in with her boyfriend, cut spending and earns about $1,000 a month doing free-lance design work and baby-sitting….My artistic career is put on the side because I have to make a living“. 

Are you feeling the sympathy? Me,  I went to college for electrical engineering instead of music so I could, ahem, support MYSELF.

Another piece of cold reality – “Payrolls increased by 162,000 jobs” – and there was much rejoicing. But…

• The increase included 48,000 temporary workers hired by the government to conduct the census
• Unemployment was 9.7 percent for a third month – if it’s good news, why are the same number of people not working?
• From Macro Man:”  Tim Geithner delayed the release of the “currency manipulation” report in favour of bilateral discussions due to a one week buyer’s strike by China on US Treasuries
• Small businesses have a tax increase this year of only 25%…JammieWearingFool
• Steel and iron ore price increases recently agreed to. What is made from steel? Well, most things….MSN Money

Tea parties – just a bunch of white, male, wingnut bigots. Except it’s really 57 percent Republican, 28 percent Independent and 13 percent Democratic. And it’s more popular than Obama.

You know you’ve lost the narrative on climate change when Der Spiegel reports on the issue….and yet as Pirates’ Cove points out – Congress is  still NOT GIVING UP and cap&tax…it’s too important for..what? Jobs? Preventing global warming where the science was pre-baked?

 Still, how could the voters be SO RUDE to not thank their elected officials for ignoring them? Splashes of cold reality all around!