Arkady's Thoughts

In case you are wondering why these races are important or how a governor in New Jersey can impact your life - trust me, it can.  There are three races happening and we will discover tomorrow what the outcome will be.  My predictions and analysis. New Jersey:  Corzine(D) vs. Christie(R).   This has been an extremely tight governor race with both candidates exchanging leads.  Final polls suggest challenger Christie has a tiny lead outside the margin of error.  Christie also went on Imus last week and poked fun at his own fatness leading Cavuto to embrace Christie as the likely winner.  This is a crucial race because Obama has been personally involved in this race desperately trying to bolster Corzine's success and preventing the solid blue state from flipping red.  A victory for the Republicans will send a strong message to the White House that last year's momentum and message has expired.  I think Christie will pull this off, but it will be extremely close. NY-23:   Hoffma

Some bad news from Bloomberg this morning, suggesting that the bill proposed by Ron Paul has been gutted.  It has been gutted notably by two specific people, one being the enabler and perpetrator of the housing crisis our own Barney Frank and the other being Mel Watts from North Carolina.  Paul, a member of the House Financial Services Committee, said Mel Watt , a Democrat from North Carolina, has eliminated “just about everything” while preparing the legislation for formal consideration. Watt is chairman of the panel’s domestic monetary policy and technology subcommittee. Fascinating.  EconomicPolicyJournal.com has a piece on this very subject and exposes Watt's plausible motivation for destroying and gutting one of the most important pieces of legislation in Congress right now.  Most of the top industries donating to Watt are major beneficiaries of Fed money printing. His top industry donors are at #1 the commercial bankers industry, at #3 the building trade unions (All t

Our esteemed lawmakers are busy at work inventing new ways to screw not only this generation but all offspring and the offspring's offspring.  According to inman news , Reid has proposed an amendment to HR 3548 to extend the $8,000 first time home buyer credit, along with modifying limits and caps thus enabling more and more people to participate.   See, someone got the bright idea that our entire crisis is predicated on the bursting of the housing bubble and while the bubble pop ushered in troubling fiscal meltdowns the housing bubble was merely a catalyst.  America's history over the past 30 years has been largely governed by Greenspan's new economy, an idea built on the fact that an infusion of readily accessible money can stimulate a lagging economy.  It worked in 1987, early 90s and early 2000s so the assumption is that it will work again.  It has indeed provided many years of prosperity to people and allowed many to become filthy rich, however the soundness of the na