"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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Friday, January 27, 2012
US GDP remains mired in mediocrity
Reports out this morning show that US GDP for 2011 was a pathetic 1.7% compared to 3.0% for 2010. Imagine what it would have been without all that QE! No wonder the FOMC is giving the green light to hedge funds to jam the stock market higher with their stupid zero interest rate policy now extended out for another two years.