Where Enron CEO Stays in Prison

There's an article today in the WSJ re top Ponzi scheme criminal Bernie Madoff and why he didn't receive his choice of federal prisons to be sent to rot.

Under "Getting Into the Top Prisons", six prisons were listed. The Federal Correctional Inst in Denver was one the six. This is where Poo-Paw spent four years as an USPHS dentist.

One of the current pigeons roosting there is Jeff Skilling, former Enron CEO.

Wait a minute--F.C.I is minimum security, males, ages 18-24. Skilling certainly doesn't belong there !! Took mucho dinero $$$$ to quarter him for sure.

He even gets tucked in...picture of his "tucker" shown.

The first All Star baseball game debuted in Comiskey Park, Chicago, 1933,pitting the All Stars from the American vs National League. Proceeds went to a fund for aid to needy retired players.

Everyone wanted to see "the Babe"aka Babe Ruth. Getting along in years, he hit the first All Star home run.

"The place went crazy" and on the strength of Ruth's home run, the All Star game was a resounding success and has been a fixture after all these years.

We saw the game when it played in Denver. We had the best seats in the house, next to the open side of the dugout. Mark McGwire, the year he juiced 70 homers, flipped his batting glove to Billie which we later sold for $250 on e-bay.

Taxes and DEflation

Economists Barrow and Perotti are saying that each $1 increase in government taxes reduces private spending by about $1, with no net benefit to GDP. All that is left is a higher level of government debt creating slower economic growth.

This is more consistent with deflation than the expected inflation.

Indeed, Christina Romer who chairs Obama's Council of Economic Advisors, wrote in 2007 that the tax multiplier is 3X. This means that each $1 rise in taxes will reduce private spending by $3.

From Marketwatch

The stock market S & P 500 needs to gain 60% to break even for the decade. What a wind in your face while trying to grow your savings !!