Thursday, November 20, 2008
Your Morning News 11.20.08
Posted by Josh in California, Childhood Obesity, chinese democracy, Deflation, Economy, Election 2008, Guns N Roses, joe the plumber, john mccain, Missouri, proposition 8
Well, the economy still stinks. Yesterday the stock market fell to its lowest point in 6 years. The drop was fueled by fears of deflation, which is when the costs of goods and services actually go down. Why is deflation bad? It represents the fact that consumers arn’t spending money. Companies will begin to take in less money and react by slowing production and cutting jobs, which causes consumers to scale back spending even more. Deflation is often an indicator of a depression, but you know what else it is an indicator of? BARGAINS! With goods and services costing less, you paycheck (or unemployment checK) will spread further. But what should you spend your money on?
A shopping guide including Gay Marriage, Missouri, Childhood Obesity, Joe the Plumber, and Guns N Roses after the jump.
You could spend your money on placards and direct mail! The California Supreme Court voted 6 to 1 on Wednesday to review legal challenges to Proposition 8, the voter initiative that restored a ban on same-sex marriage, but refused to permit gay weddings to resume pending a final decision. I have no idea where the courts will come down on this, but they wouldn’t review it if they didn’t find some problems with Prop 8.
Have an extra $300 million just burning a hole in your pocket? Spend it on an extra 11 electoral votes. Missouri finally announced that it had counted its votes and Senator John McCain won the 11 electoral votes. This could be the last time we use the Election 2008 tag (I don’t believe it).
TV ads are helpful guides of what to spend on, but according to economists, television commercials significantly contribute to childhood obesity. You know what doesn’t contribute to obesity? Banner ads on 2.0somethings.com.
Someone doing well in this economy: Joe the Plumber. Samuel Wurzelbacher (his real name) has signed a book deal for an undisclosed amount. His book, Joe the Plumber: Fighting for the American Dream, will address his ideas about American values. Meanwhile, The New Yorker just rejected my 4th essay on American values I send them free of charge.
And finally, for your cultural event of the week. Guns N Roses has launched Chinese Democracy, the band’s first album in 15 years, not with a bang but with a whimper. The album goes on sale next week but you can listen to it now at their MySpace page. The only review you need is that of the peerless Chuck Klosterman, who literally wrote the book on Guns and Roses.