Thursday, January 24, 2008
Your Morning News 1.24.08
Posted by Josh in Bill Clinton, Election 2008, Federal Reserve, Gaza, Iraq, Mitt Romney, MPAA, Rudy Giuliani, Stock Market, Wii, Your Morning News
We have been talking about the stock market for a few days. Yesterday, the market was down 300 points at lunch and up 300 points by the time the market closed. Overall, the market seems to be bouncing back from the slide it was in over the past few days. Most people are crediting the Federal’s rate cut along with some other government subsidies that I don’t really understand for restoring investor confidence in the market. However, many are still saying that the Federal Reserve is too concerned with the market and needs to focus more on controlling inflation.
The Presidential campaign continues to stagger along heading into the primaries in Florida and South Carolina this weekend. How do you know today is a bit of a slow news day? There is a New York Times article saying that, among the candidates, Mitt Romney is the most hated. Man, Giulinani can’t win anything! Additionally, some people are a trifle upset that the former President is on the campaign trail so vigorously. And when I say vigorously, I mean like a rabid weasel in a sack. Finally, for those of you who were thinking things might be resolved on Super Tuesday, think again.
In Iraq, a lack of any major political solutions are jeopardizing the military successes the United States have had during the surge. If you want to sound smart, nod knowingly and say, “This was the danger of the surge all along.”
Egypt brought down a section of border wall, enabling Gazans to get some relief from the economic blockade they have been suffering. Unfortunately, Nintendo couldn’t keep up with demand so many of them had to return to their war torn homeland without a Wii.
And finally, from the files of “Screw you for that threatening letter I got sophomore year,” the movie industry has admitted it overstated the amount of movie piracy that goes on on college campuses. The Motion Picture Association of America has said that college students are responsible for 44% of illegal movie downloads. Their new estimate: 15%. They have cited ‘human error.’