The Kensington Review

6 February 2006

Latest Commentary: Volume V, Number 16
Bush Offers $2.77 Trillion in Spending -- The president’s budget arrives on Capitol Hill today, and some of its provisions are good, some are bad, and some are neither. However, there is no denying that the Republican Party of George “LBJ” Bush is no longer a conservative party. It is a right-wing party dedicated to hefty government spending of borrowed money. The $2.77 trillion wish list includes a short fall of $423 billion, in nominal terms the biggest ever.

Greek Wiretapping Scandal Threatens Government --While the US Senate starts hearings on whether President Bush broke the law by ordering the NSA to intercept phone calls without a warrant (he did), the Greek people have been told they, too, have a wiretapping problem. Last week, they learned that about 100 people had their phones tapped by security around the time of the Athens Olympics in 2004. Among the cell phones tapped were those belonging to Prime Minister Costas Karamanlis and the foreign, defense and public order ministers. The question is, who was listening and why?

Indian Stock Market Breaks 10,000 -- The time to worry about a speculative bubble in a market is when the prices have soared and no one is talking about a bubble. That is a perfect description of the Indian stock market these days. The Bombay Stock Exchange broke the 10,000 mark in trading last night while closing at 9,980, and the index is up 40% over last year. With an economy growing at 8% a year, this might be a good time to double check the seat belts.

Fortieth Super Bowl Fails to Impress -- The Super Bowl and the events around Super Bowl Sunday have become an American secular holiday. Some have even suggested making the day after the game a holiday so that football fans can recover from the excesses. If they are to convince the rest of the country, though, the overall quality of the game and festivities will have to improve. Pittsburgh 21, Seattle 10, and who really cares about the rest?

© Copyright 2006 by The Kensington Review, Jeff Myhre, PhD, Editor. No part of this publication may be reproduced without written consent. Produced using Fedora Linux.


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