Speaker of the House Nancy Pelosi (D-Calif.) is the Will Rogers of big government: She never met a tax she didn’t like. Her latest pet project is the neither nimbly nor accurately named “Let Wall Street Pay for the Restoration of Main Street Act of 2009.” The bill, introduced by Peter DeFazio (D-Ore.), was referred to various House committees Friday and benefits from the cosponsorship of over 25 Congressmen.
Gold has recently topped the $1,200 per ounce mark, but analyst David Rosenberg sees it going as high as $2,623 per ounce in the not-to-distant future if Communist China follows through on its plans to begin stockpiling the precious metal.
When ABC News asked if the "jobs summit" would make real progress or would just be "simply a glorified public-relations stunt," it studiously avoided asking the real question: How can the prime movers that created the current economic "Great Recession" be expected to fix it?
The United Nations summit on global warming in Copenhagen is less than a week away, and UN agencies are trying to pre-set the dials with calls for massive funding of various UN projects and programs. Speaking at a conference in Nairobi, Kenya, UN Development Program (UNDP) administrator Helen Clark said the developed nations need to provide between $75 billion and $100 billion a year to help poor nations cope with climate change.