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lt's the wrong word used in the headline. "Floundering" is what a fish does. "Foundering" is what a ship does just before it sinks. "Foundering" has the same root as "foundary:", that is, to melt down or collapse. See http://www.merriam-webster.com/dictionary/founder and look at the second definition.
In response to:

Dinner With Barack

pls2 Wrote: Feb 04, 2013 4:14 AM
We can hope the Milwaukee County Sheriff succeeds in recreating the old west. There were few if any places with a murder rate approaching present day Milwaukee. And mass shootings were pretty much unknown because most people could shoot back.
In response to:

News: Old, White Liberals OK with Obamacare

pls2 Wrote: Dec 09, 2012 2:46 PM
You say: Interest rates in Iceland are 6 percent right now. If the US were looking at similar rates, interest on our debt would increase substantially. Right now average interest on US government debt is around 2.8 percent. My comment: The only reason that the Fed government's average interest is 2.8% is because the Fed Reserve is buying 90% of issued Fed government bonds. This will likely go up shortly as the Fed Reserve starts buying Fed government bonds on the open market. You know enough economics to know that this will not work out well. The Fed government average interest was 5% in 2007, the last year there was anything like a free market in Fed government debt.
In response to:

News: Old, White Liberals OK with Obamacare

pls2 Wrote: Dec 09, 2012 2:45 PM
John Ransom says: The country largely paid for the bailout of average folks by stiffing foreign creditors. . My comment: Iceland never defaulted on its sovereign debt. It allowed the privately owned banks to default. There was never any commitment of the government to back the private banks. The only thing that might fit "stiffing foreign creditors" was forcing mortgages denominated in foreign currency to be paid in Iceland currency. If you evaluate at the lowest price of Iceland currency this would cost creditors $1 billion. The currency is higher now, so the cost is less.
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