It’s cool enough in Jim Thorpe, Pennsylvania, that, at 6:45 PM, Mrs Pico put on a sweater and PFC Pico grabbed a dark blue Army sweatshirt that her Sergeant Major gave her. The charcoal has been started, and the ladies are starting a game of Harry Potter Clue; I normally don’t play the board games.
We have a big rack of ribs which will be going on the grill once the charcoal is going good; it looks like Mrs Pico is putting the cow on the grill right now.
I took some pictures, but I’m using SPC Pico’s laptop out here, and I can’t hook up the camera directly to this infernal Mac. [Note: pictures added Thursday morning. — DRP]
Moody’s warns that the US might lose its AAA bond rating, if a debt ceiling agreement is not reached in time to prevent a failure to make all of the payments due. But the Republicans should not capitulate: they should use the pressure of the impending debt ceiling limit to force as much in the way of spending cuts, without tax increases, as possible.
Ben Bernanke, Chairman of the Federal Reserve Board, has said that the economy will probably improve in the second half of the year. OK, if the economy improves, that, in itself, will increase tax revenues for the federal government.
The United States Women’s Soccer Team beat France 3-1, to move into the World Cup finals against Japan.
This would be much easier writing if this infernal machine had a mouse.
OK, now it has a mouse! I went upstairs and stole borrowed one off of PFC Pico’s desktop.
Eric LeGrand, the Rutgers University football player paralyzed from the neck down in a game against Army, has tweeted a picture of himself standing (with assistance). He still has a lot of work to go, but this is great news.
European leaders are delaying the start of a summit over the Greek financial crisis, “in the hope they could bridge crucial differences next week over the role private investors will play in a second Greek bailout. ” The European leaders are displeased that Moody’s has lowered the bond ratings for Ireland and Portugal to junk bond status, and Greece’s are already junk. Greece needs another €85 billion, but what incentive exists for private investors to participate if the cradle of democracy is not going to be able to pay back its loans?
The ministers agreed to lighten the burden on debtor countries by reducing their interest rates and extending loan maturities, as well as helping them to buy back their bonds.
Well, somebody is going to have to pay for Greece living for years at levels beyond which its productivity would support, and, soon enough, we’re going to see similar problems in other countries. But, for our friends on the left who keep telling us that our economy is too weak right now to cut spending, and we’ve got to borrow and spend more, look at Greece. We aren’t in Greece’s position yet, but it would be utterly stupid to put ourselves in their position. And note that the European leaders, most of whom are far more politically liberal than we are in the United States, have realized that it’s austerity and getting back onto a path where Greece can pay its bills that is the path out of the problem. It’s interesting how people, even Nobel Prize winning economists like Paul Krugman, who don’t have any actual responsibilities for anything, can keep advocating borrowing and spending, while the people who do have actual responsibilities take the opposite path.
Our good friend The Limerick Avenger has been busy on Patterico, where Aaron Worthing brought us the picture of Her Royal Highness, Princess Catherine, Duchess of Cambridge, Countess of Strathearn, Baroness Carrickfergus, the victim of a strong wind, showing us true royal fashion. Considering that we also have pictures of Her Majesty the Queen’s knickers, I would say that the Duchess has considerably upgraded royal fashion.