Labor losses are mounting. I mentioned in Wisconsin Vote Stuns The Left how membership in the American Federation of State, County and Municipal Employees plummeted in Wisconsin once the State stopped taking union dues from their paychecks. But it turns out that union support is declining in other States as well. The Wall Street Journal reported: “In the 12 months ended in February, Ohio’s membership fell 8.5%, Pennsylvania’s dropped 3.4% and Michigan’s declined 11.7%.” Look for union clout to continue to decline as more and more States challenge their power and more and more members decline to pay their dues.
Another promise Obama didn’t keep. Union supporters in Wisconsin are still smarting over the lack of support they received from President Barack Obama. Many of them remember this promise the candidate made in 2007: “If American workers are being denied their right to organize and collectively bargain when I’m in the White House, I’ll put on a comfortable pair of shoes myself, I’ll walk on that picket line with you as president of the United States of America.” But when push came to shove, apparently raising funds in Hollywood was more important than marching with workers in Wisconsin.
The stock market could soar. I just got an interesting email from market analyst Gary Halbert about the anticipated Supreme Court ruling on Obamacare. He says that “If the High Court renders ObamaCare unconstitutional later this month, and I think it will, we could see a MONSTER RALLY [his emphasis] in stocks.” He anticipates that the court will render a decision by June 25, before it adjourns for the summer. Let’s hope he’s right.
Now that’s an expensive lunch. Every year, Warren Buffett agrees to let the Glide Foundation, a charity that helps the homeless in San Francisco, auction off a lunch with him. The winning bid earlier this month hit a staggering $3.5 million. For that kind of money, I hope the bidder (who thus far has chosen to remain anonymous) gets the best investment advice of his life.