Texas Tech Football, Another Credit Downgrade, and More in Chad’s Steaming Pile
Here are just a few things in Chad’s Pile that you will hear on Lubbock’s First News this morning. Give Chad your feedback on the steaming topics.
1. I was wrong!
Yep, I and just about everyone else out there got it wrong. I predicted Texas Tech would lose and boy did they show me. Texas Tech’s 41-38 win over OU in Norman might be one of the greatest victories for Tech football. OU hadn’t lost at home since 2005 and whenever Tech visits, it’s never pretty. This is the type of win that can turn seasons and programs around. Congrats to Texas Tech football and thanks for proving me wrong. I don’t mind at all.
2. Again?!? (link)
According to Business Insider, Bank of America is preparing for another credit downgrade of the United States. In an analyst note, Ethan Harris of Bank of America makes this prediction:
We expect a moderate slowdown in the beginning of next year, as two small policy shocks—another debt downgrade and fiscal tightening—hit the economy. The “not-so-super” Deficit Commission is very unlikely to come up with a credible deficit-reduction plan. The committee is more divided than the overall Congress. Since the fall-back plan is sharp cuts in discretionary spending, the whole point of the Committee is to put taxes and entitlements on the table. However, all the Republican members have signed the Norquist “no taxes” pledge and with taxes off the table it is hard to imagine the liberal Democrats on the Committee agreeing to significant entitlement cuts. The credit rating agencies have strongly suggested that further rating cuts are likely if Congress does not come up with a credible long-run plan. Hence, we expect at least one credit downgrade in late November or early December when the super Committee crashes.
3. The trash is coming (link)
Japan’s tsunami debris might hit Hawaii sooner than they thought. And we aren’t talking a small amount either.
“We have a rough estimate of 5 to 20 million tons of debris coming from Japan,” said UH computer programming researcher Jan Hafner. An average of 10 million tons of debris, the same amount released into the north Pacific basin in one year, was dislodged and set adrift in one day.“Hawaii is just in the path,” said Hafner. Since the disaster, Hafner has been watching and calculating that wave of debris on a specialized computer program that follows and analyzes the currents.
They now predict that the debris will hit Hawaii in less than 2 years.
These and many more topics coming up on Monday’s edition of Lubbock’s First News with Chad Hasty. Tune in mornings 6-9am on News/Talk 790 KFYO, streaming online at kfyo.com, and now on your iPhone and Android device with the radioPup App.