Good News Should Not Be Ignored

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smileyface.gifWith the doom and gloom hovering over consumers, the economy, Afghanistan, and corruption in government, it is important to revel in what good news comes our way. Otherwise, we risk becoming jaded and cynical, and that leads to apathy and inaction to improve what has gone wrong. There are various items of good news to cover. Let's take a look at this last week's worth.

The FCC, (Federal Communications Commission) did a good thing this week in ruling against Comcast and for Internet neutrality. Internet neutrality is simply a phrase representing the idea that no entity, corporation, or individual should have power and control over the flow of legal information across the internet. Comcast violated this concept and got their wrist slapped setting the first real administrative precedent for insuring neutrality.

In this Reuter's news story, the good news is: the people's Constitutional right to oversight and checks and balances against the executive branch of government was protected.

A federal judge ruled on Thursday that Congress in its fight with the Bush administration can subpoena current and former top White House aides in its investigation over the firing of U.S. attorneys.
As I wrote over at WatchBlog, this thumbing of the nose at Congress's subpeonae by White House workers has, in fact, been a thumbing of the nose at the American people and their constitutional form of government. Thankfully, our courts are still functioning better than Congress and the White House.

A bill has passed in the House called the Pay Discrimination Bill, 247 - 178 votes. No Republicans that I can tell, supported this bill. This bill, if it clears the Senate and survives Pres. Bush's veto, would go a long way toward addressing in law the glass ceiling women in America have hit in terms of equal pay for equal work. Vote Smart describes this bill as

To amend the Fair Labor Standards Act of 1938 to provide more effective remedies to victims of discrimination in the payment of wages on the basis of sex, and for other purposes.

The Hill reports:

The Bush Administration reversed proposed Medicare cuts yesterday, which, thanks to a number of key Republican and Democratic congressional leaders, prevented the Centers for Medicare & Medicaid Services (CMS) from cutting $770 million in Medicare funding for seniors' nursing home care in FY 2009 and more than $5 billion over the next five years.
Well, it is an election year, after all. No surprise here. Still good news for our senior parents and grandparents in nursing homes. They won't be dying in alleyways and children's homes, for awhile yet.

The Hill also reports good news for America's college students:

Last night, the Senate achieved a monumental victory by overwhelmingly approving a bipartisan agreement to reauthorize the Higher Education Act (HEA). This bill will expand opportunities for all Americans by improving higher education affordability, access, and accountability.

And this final bit of good news doesn't sound like it, at first. The stock markets have given up about 20% of its gains from previous highs. Most folks would regard that as very bad news, especially if they are invested in the markets. But, historically speaking, this is a very positive turn of events. The reason is that the light at the end of recessionary tunnels is first revealed historically by a 20% or more decline in market valuations.

Though this particular 20% retrenchment was arguably not a total market capitulation as often seen historically prior to the end of recessionary periods, it does signal that investors are capitulating and selling to the point of many corporations being oversold given future prospective earnings. The end of this economic malaise, may be closer than its beginning, and that would mark a turning point for consumers and job hunters 12 to 24 months from now, if they can hang on that long.

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This page contains a single entry by David R. Remer published on August 1, 2008 4:52 PM.

Rove: In Contempt was the previous entry in this blog.

Republicans Upset, No One's Listening is the next entry in this blog.

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