Chart Porn: Subprime Apocalypse

This chart shows the total dollar value of non-traditional mortgages tracked by quarter since 2001. As you can see these types of mortgages, particularly Subprime and Alt-A mortgages, have all but disappeared in 2008. What is striking is the particular frenzy of such mortages being issued during the first half of 2007 before the bottom fell out. All in all, this represents the disappearance of what was as of 2006 nearly a trillion dollar annual market almost overnight.

Yet another dramatic illustration of why home values are continuing to crash.

rubenation's top 3 "Scumbags of the Week"

Time once again to name the Top 3 individuals or entities that did the most damage to the republic during the past seven days. This week we start with the man most responsible for putting Chimpy in the White House:

1). Supreme Court Justice Antonin "Get Over It" Scalia. As part of his continuing campaign to be remembered as the worst Supreme Court Justice in American history, Scalia was quoted this week saying, "get over it," in response to a question about the results of Bush vs. Gore. So, we the people are supposed to just forget that the Scalia court trumped a half-million vote Al Gore majority to usher in the worst President in American History. In your dreams, asshole.

2). The Democratic Primary Voters of Pennsylvania (D-idiots). Not content with eight years of incompetent elitist nepotism in the White House in which the working class and middle class have gotten royally screwed, the Dem voters in the Keystone State voted for four more years of more or less the same thing.

3). John "Let's Bulldoze the 9th Ward" McLame. Mr. Old-Man-Shakes-Fist-at-Cloud just seems to outdo himself every week in sheer out of touch-itude. First there was the proposal to destroy the nation's highways by eliminating the gas tax, there there was his off-the-cuff suggestion to raze the worst hit area of New Orleans. Now we know what he really meant by his new War on Poverty pledge.

Till next week, peace out.

Households Going Broke

Need more proof than American households are drowning in debt? Here ya go.

Chart Porn: California Default Notices

This is one of those charts that pretty much explains itself. Over at the far right, you can see how the number of mortgage defaults in the nation's largest state have absolutely exploded. Of course, the 2008 data is extrapolated based upon first quarter numbers, but does any reasonable person expect it will get better as this year wears on?

Why Does Pennsyl-tucky Hate America?

Way to go PA. Way to breath life back into the hideous Hillary campaign. Way to go, especially, working class voters of the Keystone state. What, eight years of incompetent elitist nepotism in the White House wasn't enough for you?

Just like in the general elections of 2000 and 2004, far too many of you voted against your economic interests. And America is far worse off because of it.

Those Who Forget the Past...

...can REALLY make a fool of themselves in public.

$119 - The Only Economic Indicator that Matters

Oil prices hit $119.90 per barrel today. In 2002, during the run up to the Iraq War, oil was trading for as little $22 per barrel. That's a nearly fivefold increase in just six years.

You can have your Dow Jones Industrial Average, your S&P 500, your unemployment rate, your official inflation rate, your currency exchange rate, etc., etc., etc. When it comes to the economy, there is only one figure that really matters.

And right now that figure is $119 a barrel.

Mexico Running Out of Oil

http://biz.yahoo.com/ap/080421/mexico_oil_production.html

Many people don't realize it, but Mexico is actually one of the US's top oil suppliers. Unfortunately, they're running out south of the border:

Mexico's state-run oil company said Monday that oil production fell 7.8 percent to 2.91 million barrels a day in the first quarter as current reserves dwindle.

Petroleos Mexicanos, or Pemex, has struggled with falling reserves, especially at its main Cantarell oil field, and lacks the money and expertise to launch new drilling projects. Pemex only has enough proven oil reserves to last nine years at current production rates.


Nine years. And Mexico will be totally drained.

Peak Oil: It's not just a wacko, lefty looney theory anymore.

The Late, Great Bill Hicks on Gays in the Military

"Anyone...DUMB ENOUGH...to want to join the military, ought to be allowed in."

Be All You Can Be: A Felon

http://rawstory.com/news/2008/Army_doubled_felony_waivers_for_recruits_0421.html

This quote pretty much says it all:

The Army doubled the number of waivers it issued to allow convicted felons to enlist between 2006 and 2007, while felony waivers issued to Marine recruits increased by nearly 70 percent, according to newly released numbers from the Pentagon.

Yeah, these are exactly the types of people you want representing you when you're trying to build a democracy. Any wonder why the Iraqis aren't falling all over themselves to kiss our feet in gratitude?

Food Rationing in the United States?

http://www2.nysun.com/article/74994

Apparently so, though it is hardly an epidemic. Here's a quote:

Many parts of America, long considered the breadbasket of the world, are now confronting a once unthinkable phenomenon: food rationing. Major retailers in New York, in areas of New England, and on the West Coast are limiting purchases of flour, rice, and cooking oil as demand outstrips supply. There are also anecdotal reports that some consumers are hoarding grain stocks.

This is another story to watch over the long term. Americans cannot fathom such a thing as food shortages in their own country, but its likely to get worse going forward.

Gasoline and Food Costs Crowding Out Other Spending

This, of course, is no great surprise. Two things to note here: 1). The dramatic drop in spending on anything other than necessities, and 2). This is already the largest drop in non-gasoline spending since the Daddy Bush recession.

rubenation's Top 3 Scumbags of the Week, All Press Edition

Yes, it is time once again to call out the three individuals or groups who caused the most damage to the republic during the past seven days. We have an all "media watchdog" edition this week, proving once again that only thing the corporate media watches out for in America these days is its own self interest.

1). Charlie "Newsreader" Gibson and George "I Wanna Be a Serious Journalist When I Grow Up" Stephanopoulos. Worst. Presidential Debate Moderators. Ever. Granted, the bar wasn't set too high, but these two dopes still managed get far underneath it. When future historians debate just how our early 21st century political and media culture became so infantile, they'll use a video of this debacle as exhibit one.

2). David "I'm Just as Arrogant on TV as I am in Print" Brooks. The New York Times's 3rd worst columnist (after Kristol and Friedman) took to the airwaves to defend Gibson, et al. And thusly does The Old Grey Lady reaffirm its motto changeover to "All the News that's Full of Shit."

3). W. Dean Singleton, Chairman of the Associated "Press". The latest scumbag to publically conflate "Obama" and "Osama," and perhaps the first to have the guts to do it to Obama's face. If you think these incidents represent innocent mistakes, then you don't realize just how much of a threat to the status quo represented by the so-called "villagers" Obama actually is.

The Recession Hits Tinsel Town

Just read today that movie box office receipts are down 7% thus far this year. Part of decline, to be sure, might be because of the underwhelming fare Hollywood has released lately. George Clooney's Leatherheads, for example, was a critical and commercial bomb despite the fact that Clooney in an action comedy is usually money in the bank.

This leads me to present the second of my own personal economic indicators: Empty Seats in Movie Theaters or ESMT. I will be tracking these figures from time to time along with the ESBP, Empty Seats at Ballparks.

Now if you'll excuse me, I have to go watch No Country for Old Men on DVD again.

At Least ONE International Stock Market "Gets It"

By all rational measures, the U.S. stock market should have entered a deep decline by now. The spiraling gas prices have taken money out of consumers' hands, and there is every indication that it is just going to get worse as summer approaches.

Interestingly, investors in Shanghai, representing the country where many of America's crappy consumer goods are produced, have already seen the market crash. As this graph shows, the Shanghai Composit is down nearly 50% since October.

More reason to believe that this recent run up in American stocks is just a "dead cat bounce" and there will be a dramatic reversal in the near future.

The Numbers

Chimpy's DISAPPROVAL Rating: 67% (highest ever)

Those Who Think the Economy is "Poor" or "Not Good": 90%

Price of a Barrel of Oil Today: $117

Average Price of a Gallon of Gas Today: $3.45

Average Price of a Gallon of Diesel Today: $4.17

Pilots Claim Airliners Forced to Fly With Low Fuel

http://www.msnbc.msn.com/id/24034468/

That's right, as if it wasn't already aggravating enough to fly these days, now the pilot's union is claiming that the airlines are trying to cut costs by not putting enough jet fuel into their planes.

So they practically strip search you going through airport security, confiscating any 3.5 ounce bottle of mouthwash, just so you can die when a jet stuck in a holding pattern crashes while circling the airport.

Fucking brilliant.

More Chart Porn: March Inflation Numbers

This chart shows the year over year producer price index with the 2% target rate represented by the red dotted line. What is striking beyond the staggering jump in the raw/crude inflation numbers is how the finished product numbers are lagging way behind.

I'll admit I'm no economist, but I would gather that there's some lag time before the finished product prices catch up with the raw/crude prices. So just imagine how bad inflation will be by this summer.

Oil Hits $114 a Barrel

Yes, yet another new record today for oil prices. Also, gasoline spiked to $3.38 per gallon a diesel fuel surged to $4.11 per gallon nationally, both also records.

At the risk of overusing my own catchphrase:

Peak Oil, it's not just a wacko, left wing looney theory anymore.

Chart Porn: Gas Prices Vs. Oil Prices

This chart is for anyone out there who still believes that gasoline prices are rising solely because the big oil companies are ripping us off. The chart above depicts the price of gas (in red) vs. the price of crude oil (in blue) since July 2002.

What is striking about the figures (other than the the fact that a barrel of oil was only about 25 bucks less than six years ago) is the dramatic recent upward arc of oil prices and how gasoline has thus far failed to keep pace. If the two had remained true to their historical comparative norm, we'd already be paying about $6.oo per gallon for gas.

Peak Oil. It's not just a wacko, left wing looney theory anymore.

rubenation's top 3 "Scumbags of the Week"

Yes, time again to call out the three individuals or organizations who did the most damage to the republic during the past seven days. We start this edition with Chimpy's favorite enabler among the U.S. military.

1). General David "Don't Call Me Westy" Petraeus. Remember all the hysteria over the Moveon.org ad referring to General Betray Us? Well, that's exactly what this miserable political excuse for an empty uniform has done. Chimpy immediately seized upon the General's BS testimony in front of Congress to justify continuing his immoral war unabated so he can (he hopes) hand it off to John "Hundred Year War" McCain next year.

2). The U.S. "Profiles in Cowardice" Congress. For sitting back yet again and scarcely uttering a word of protest as the war's newest cheerleader blew a big fat raspberry at it.

3). Secretary of State Condoleeza "Always Fail Upwards" Rice. For having the absolutely galling audacity to allow her name to be thrown around as McCain's possible Veep choice. She's already been the worst National Security Adviser in American history (for doing nothing to prevent 9/11) and the worst SecState in American history (as she showed again by criticizing Jimmy Carter this week for attempting to conduct, you know, diplomacy). If she does in fact get the nod, it will be just one more example of how accountability and competence means nothing to Republicans.

Price of Cocaine Soars in Europe Due to Weak Dollar

http://news.bbc.co.uk/2/hi/business/7342946.stm

Seems things are tough all over...especially for Eurotrash assholes sporting three-day beards at bad discothèques in their cheap Armani suits. Here's a quote from the story:

Europe has seen a huge increase in availability as traffickers take advantage of the exchange rate.

So, now you can't even afford to get fucked up so you can try to forget how fucked you are.

Linens-N-Things First Major Retailer to Go Belly Up in This Recession

http://online.wsj.com/article/SB120788502599307497.html?mod=hps_us_whats_news

This first major domino in the retail sector falls. So who is next? I also read today that Kohls's sales fell $15% in March, so I'm placing my bet on them.

Coming soon to a strip mall near you: LOTS of empty storefronts.

Ron Paul Shows Again Why He's My Favorite Maverick

http://www.cnn.com/2008/POLITICS/04/09/house.olympics/

You gotta love Congressman Ron Paul, even if he laughingly insists on calling himself a Republican. Yesterday, in an act of sheer ballsy hypocrisy, the House of Representatives took a stunningly courageous stand against the Chinese occupation of Tibet by passing a mealy-mouthed nonbinding resolution. The vote was 413-1.

Yes, exactly one heroic congressman realized that a country that illegally occupies two others, whose President has authorized torture and illegal domestic spying and whose military has directly or indirectly caused the deaths of hundreds of thousands of Iraqi civilians and the displacement of millions more, has NO MORAL AUTHORITY to condemn any other country for anything.

Elton John is a Dingbat

http://www.mirror.co.uk/news/latest/2008/04/10

Last night, British citizen Reginald Dwight inserted himself into our presidential campaign by holding a concert for Hillary and opening his trap to reveal what a first class idiot he is. Seems Mr. Dwight-John has figured out why Everybody Hates Hillary: misogyny. Here's a quote from the story:

John said there was no one more qualified to lead the United States into the next era. "Having said that, I never cease to be amazed at the misogynistic attitude of some people in this country. And I say to hell with them," he said, drawing cheers from the crowd at Radio City Music Hall in Manhattan.

Sure, that must be it. Obama supporters hate women. Only possible explanation.

Cheap shot alert: no word on whether John opened his set by singing his old classic, "The Bitch is Back."

ESBP 2: The Washington Story

Last week, in honor of the Baltimore Orioles posting their lowest attendance ever at Camden Yards, I inaugurated my personal economic indicator: Empty Seats at Ball Parks, or ESBP. Unfortunately, the latest example struck a little closer to home.

The Washington Nationals set an unfortunate record of their own on Monday night as only about 20,000 fans showed up to watch their second home game of the season against the Florida Marlins (pictured). 20,000 doesn't sound so bad, you say? Well, 20,000 is the smallest attndance ever for a second game in a brand new stadium in the modern era. I was there, and let me say the crowd seemed even smaller than the official total.

Oh, and the Nats dropped the game 10-7.

Coming This Summer: $4 a Gallon Gasoline

http://www.msnbc.msn.com/id/24013419/

Or so says the Energy Information Administration. Even if Americans cut back on their vacation driving as expected, the agency still expects price spikes to $4 this year. If it happens it will mean that the price of a gallon of gasoline has nearly quadrupled during Chimpy's horrid administration.

Peak Oil: it's not just a whacko, leftwing looney theory anymore.

Lewis Black on Hanging With Chimpy

"I should have known earlier about George Bush...but, I gave him some rope. A lot of rope, actually, and then he hung all of us with it."

Next Financial Domino Falling

http://biz.yahoo.com/ap/080408/washington_mutual.html

Washington Mutual has become the latest focus of market watchers as it threatens to go the Bear Stearns route to oblivion. According to the story:

Washington Mutual Inc. secured $7 billion in new capital Tuesday, an injection that is aimed at reviving the company despite ballooning loan losses but which may also push it to rethink its strategy, slim down and revamp the management.

The article goes on to say that the bank is getting out of the wholesale lending business and laying off 3,000 workers.

So let me get this straight, the proper course of action when dealing with an institution that has blown billions of dollars is to lend it billions of more dollars.

Remember when conservatives used to stand for personal responsibility?

rubenation's Top 3 "Scumbags of the Week"

Missed last week because I was out of town, and thus I didn't get a chance to skewer James Carville for his Judas comment. Nevertheless, in this week's edition of the three people who have done the most damage to the republic in the last seven days, we start with Carville's puppet masters:

1). Billary (tandem Presidential candidates, D-in name only). Hey there, working class, still think Hillary can possibly relate to your ever-worsening problems? I've got 109 million reasons to argue otherwise. Sure, the Clintons aren't the first ones to ever to ching-ching-ching cash in on their public service, but selling out to corporate America to the tune of a cool hundred mil in just seven years is truly staggering. And to think we were once outraged by the 100 grand Hillary made on the futures market when she was Arkansas's first lady.

2). Angelo "Do Not Pass Go" Mozilo - CEO of Countrywide Mortgage and recent federal detainee. The feds, in their ever endearing Keystone Kop manner, finally caught up with one of the leading architects of the Subprime Mortgage debacle. May many more such arrests soon follow.

3). Kurt L. "Don't Call Me Roger Smith" Darrow - President of Lazy-Z-Boy Furniture. When asked about his company's plans to ship hundreds of jobs to Mexico, this asshole said: "We regret the impact these moves will have on the families and lives of those employees affected and greatly appreciate the contribution of each employee and thank them for their years of dedicated service." I say, no more pussyfooting around. Moving American jobs out of the country in a time of recession should be a treasonous offense.

American Dream No More

Spotted recently in Manhattan.

"No Botox For You"

http://www.latimes.com/features/health/la-na-plastic5apr05,1,110612.story

Yes, sadly it is true. People in California are getting uglier because of the housing crisis. Literally uglier:

The sub-prime loan crisis, the housing slump and the general decline of the economy have claimed another covey of victims. Anthony is in the real estate business, and under current conditions, the cosmetic treatments -- at $1,800 or more a pop -- can no longer be squeezed into her budget.

"I would rather have Botox than go out to dinner, but it's just gotten so bad," said Anthony, 41, who is looking for a job since her career in the mortgage business went sour. She has not had the facial treatments in months.


I swear, sometimes you don't know whether you're reading the real news or The Onion.

Book Review: World Made By Hand by James Howard Kunstler

Leave it to James Howard Kunstler, visionary author of The Long Emergency, to write the first great novel set in a possible Peak Oil future. Expanding on the main themes of his previous book and adapting them for dramatic impact, Kunstler tells a simple story that is simultaneously frightening and yet a bit hopeful. Surprisingly considering that detractors think he is far too pessimistic, World Made by Hand is light and airy compared to say, the utter bleakness of Cormac McCarthy’s The Road.

The setting is upstate New York, an area that Kunstler is convinced will survive the oil crash a bit better that the rest of the country. His hero is a former software executive turned carpenter eking out a barely more than subsistence living with his fellow townies. The outside world has become unknown to them as their only sources of news are in the form of travelers’ tales and rumors. The status quo of their humdrum lives is shaken up when a new religious sect moves into town and a boatload of local traders goes missing.

Kunstler is a deft writer capable of spinning scenes both moving and dramatic. He also avoids obvious clichés. His religious cult leader turns out to be an okay guy and the inevitable strong arm militia is discovered to be greedily pathetic rather than omnipotent. The one quibble I have about the novel is its small scale. Given the grandiosity of The Long Emergency and its predictions for the future of the world this was a bit surprising. But it in no way detracts from what is an effective and well told story.

98% of Historians Now Rate Chimpy's Presidency A Failure

http://www.smirkingchimp.com/news/13856

I honestly doubt that a President could achieve this level of utter disdain if he deliberately set out to do a bad job. Here's the money quote from the story:

In an informal survey of 109 professional historians conducted over a three-week period through the History News Network, 98.2 percent assessed the presidency of Mr. Bush to be a failure while 1.8 percent classified it as a success.

Asked to rank the presidency of George W. Bush in comparison to those of the other 41 American presidents, more than 61 percent of the historians concluded that the current presidency is the worst in the nation’s history.

And just think, he has nine more months to go to drive his ratings even lower!

War Profiteer Airline Shuts Down

http://www.nytimes.com/2008/04/03/business/03cnd-ata.html

You probably know by now that yesterday ATA airlines became the second major American airline to shut down in less than a week. What you might not know is the company's stated reason for going bankrupt:

ATA blamed the shutdown on the loss of a contract for its military charter business.

So in other words, without subsidies from big daddy government's war machine, this little capitalist's darling was unable to survive. Just imagine the ripple effect when America is FORCED by economic reality to begin withdrawing from Iraq next year.

New Poll: 81% of All Americans Now Think the Country is on the Wrong Track

http://www.nytimes.com/2008/04/03/us/03cnd-poll.html

Wow. No matter how you might try to spin it, this is an absolutely staggering number. Just imagine trying to get 4 out of 5 people to agree on ANYTHING, let alone a political topic that doesn't involve punishment for pedophiles. Here is the money shot from this story:

In the poll, 81 percent of respondents said they believed that “things have pretty seriously gotten off on the wrong track,” up from 69 percent a year ago and 35 percent in early 2003.

Well, I guess Chimpy wasn't lying during his 2000 campaign. He really is a uniter rather than a divider.

Lawsuit to Stop Doomsday Device

http://www.nytimes.com/2008/03/29/science/29collider.html?_r=1&oref=slogin

Okay, people we can forget about Peak Oil, Global Warming, Nuclear War, etc., because we're not going to live long enough to see any of those things. Two men have filed a federal lawsuit to prevent the activation of the $8 billion Large Hadron Collider (pictured). Don't you want to know why:

They think a giant particle accelerator that will begin smashing protons together outside Geneva this summer might produce a black hole or something else that will spell the end of the Earth — and maybe the universe.

Damn, looks like the pennant races are going to get cut short this year.

Marc Maron on Republicans and Evolution

"Real Republicans believe in evolution...they are absolutely sure that the poor will adapt to whatever shit they put them through."

There Are No Recessions in Baseball...or Are There?

Last night, the Baltimore Orioles defeated the Tampa Bay "Don't Call Me Devil" Rays 9-6 in front of 10,500 presumably shivering fans, the smallest crowd to ever watch a game in the 17-year history of Camden Yards. Yawn.

Being a Nats fans, I normally wouldn't give two hoots about this story. Two bad teams battling it out early in the race to see which will finish last in the AL East this year. But having given it a little thought, let me introduce my latest economic indicator: Empty Seats at Baseball Parks, or ESBP.

Ever since the sport recovered from the disastrous 1994 strike and started looking the other way while the likes of Barry Bonds, Mark McGuire and Roger Clemens juiced themselves up, baseball's attendance has risen every year. But it would seem to me that the soaring ticket costs to pay escalating player salaries combined with the 162-game season makes baseball particularly vulnerable to an economic downturn. Combine that with corporate belt tightening (anyone interested in that Bear Stearns box at Yankee Stadium?), and you have a potential for a steep drop in fannies in the seats.

So, I will be periodically revisiting this topic as the MLB season unfolds. My prediction is for an overall drop of between 5-10% in the ESBP indicator this year, and the only reason it won't be larger is because most season ticket renewals had to be paid around last December, before the bottom really started to drop out on the economy.

As always, I welcome your predictions.

Budget Crunch May Result in the Release of Tens of Thousands of Prisoners

http://www.onenewsnow.com/Headlines/Default.aspx?id=74659

Now, what is the worst possible thing the government could do just as the nation is heading into a major economic downturn that will likely cause a significant surge in crime? Wait, I've got it, let's release a massive number of convicts back into society where they'll be unable to find jobs. Hell, they can probably find plenty of potential proteges right there on the unemployment lines.

Here's the money shot from this awful story:

Lawmakers from California to Kentucky are trying to save money with a drastic and potentially dangerous budget-cutting proposal: releasing tens of thousands of convicts from prison, including drug addicts, thieves and even violent criminals.

Officials acknowledge that the idea carries risks, but they say they have no choice because of huge budget gaps brought on by the slumping economy.

Feel safer yet?

Bill Maher on the Idiocy of the 2004 Campaign

"When homophobia trumps terrorism as an issue...wow, this country needs to get laid."

Senator's Husband Hires Prostitute

http://www.wilx.com/news/headlines/17222329.html

Ho hum. Another day, another politician (or rather, politician's spouse) gets caught paying for whoopee. Here's an excerpt from the story:

"TROY, Mich. (AP) -- The husband of U.S. Sen. Debbie Stabenow told police he used the Internet to make a date with a prostitute and paid her $150 for sex at a hotel, according to a police report."

Wait a minute, did that say he paid ONLY $150 for sex. Goddam, that's about 97% less than Spitzer paid for his dalliances. Either this guy is a shrewd shopper, or that is one seriously unattractive hooker.

Dude, you're the hubby of one of the most powerful people in the country. If you're going to risk this level of humiliation, at least LIVE a little.

Banking Industry to Shed 200,000 Jobs This Year

http://money.cnn.com/2008/04/01/news/companies/banking_jobs.ap/index.htm?postversion=2008040107

Now HERE is a business news headline guaranteed to generate a little schadenfreude. The assholes who wrecked our economy are being economically wrecked themselves.

I guess my neighborhood, for example, didn't need the three new branch banks that opened within three blocks of each other within the last year on top of the four that were already there.

I'm reasonably certain that Bernanke can't bail them ALL out.

Eat the Rich

In keeping with today's theme, here a little fashion statement for ya. Link below for those interested in owning their own.

http://www.cafepress.com/wrh_store.127259181

"Down Here" by Social Distortion

You work hard now...to put food on the table.

You're working for the man...who don't even know your name.

That's the way that it goes...

When you're down here with the rest of us.

The New Great Depression

http://www.independent.co.uk/news/world/americas/usa-2008-the-great-depression-803095.html

Leave it to a British newspaper to report a sad truth that the American corporate media largely ignores. It is estimated that 28 million American will receive food stamps this year, an all time high and up a million and a half from 2007. That's nearly one in ten of us. And yet on the day this story appeared the American stock markets rose over 3%, essentially declaring the credit crisis over.

Further proof that there are two realities in America today. One for the elite. And one far less rosy for the rest of us.

Oregon Holds "Health Care Lottery"

http://news.bbc.co.uk/2/hi/health/7321500.stm

Once again, the Brits are on the case regarding the continuing madness that is life in America these days. According to this BBC report, it seems the State of Oregon is now offering health care coverage for the uninsured as a lottery prize.

Sadly, this is NOT an April Fool's joke.