Thursday, October 23, 2008

SAR #8297

If the free market works, why isn't it?

Beggar Thy Neighbor: OPEC's problem with reducing oil supplies to raise prices is that each nation needs oil revenues to survive. If oil drops by 50%, they need to sell twice as much - not less to prop up the price at less than their budgets call for. Let the other guy sacrifice. Sound familiar?

Test Driven: The global auto market may "collapse" in 2009, says J.D. Power and Associates. Not slowdown, collapse.

Put a Fork In It: Argentina plans to seize $29 billion from private pension funds to fend off default on its international debts. Let's hope Paulson and Bernanke are a bit more subtle.

R for Redundant: Congress is considering establishing (another) domestic intelligence agency, to specialize in rooting out terrorists, spies , abortionists and Jon Stewart .

Oh, Look! See The Dog: Mervyn King, Governor of the Bank of England, "Not since the beginning of the First World War has our banking system been so close to collapse."

Diaper Economics: More people are buying supplies of diapers and baby formula around paydays, and for cash. Wal-Mart says this is a sign that customers are shopping less, have run out of credit and are cutting back, way back.

Great Leap Backward: China now emits about the same amount of greenhouse gases as the US. By 2030 it will emit CO2 equal to about 4 billion tons of carbon, compared with global emission of 8.5 billion tons today. Party on.

Calpers Model: The California Public Employees' Retirement System has lost over 20% in the last quarter. Still, beats the Argentinian solution.

The Muslim Candidates: The Extremism Unit of Great Britain's Prison Service will undertake to cure Muslims of their fanatical beliefs through "de-programming" and other brainwashing techniques. Where're Stanley Kubrick and Malcolm McDowell?

Spin's In: When Obama sweeps into office with a Democratic House and Senate behind him, it will be because America is a conservative nation. Yep, the commentariat are already on the practice field.

Early Days: Wachovia has taken the lead as the Biggest Loser with $23.7 billion in 3Q losses. Not bad for a middle-weight; let's see what the big guys like Citi and UBS can do.

Ghost at the Table Pump: Many Americans, seeing gasoline fall to $2.75 and less, think the oil problem is all over. Wrong .

False Profits: Instead of the promised land of high returns, CDOs are inflicting losses of up to 90% on investors. These losses will exceed the $660 billion loss financial firms took on sub-prime backed securities.

Freedom to Suffer: John McCain sneers at the idea that health care is a basic human right to be provided and regulated by the public in a civilized nation. McCain backs the GOP idea that it is commendable to make a profit from pain and suffering.

Pay, Pal: Last spring the developed countries promised to give $12 billion in food aid to the less fortunate nations. So far less than $1 billion has been forthcoming, which is actually an improvement over previous broken promises.

Porn O'Graph: Credit where credit's overdue.


Anonymous said...

"R for Redundant:"

Thank God we have a democratic congress.

TulsaTime said...

Love the Clockwork ref. this morning. It's one of my all time faves, right up there with Strangelove. And please let the auto market collapse so there can be something else advertised on TV besides....'HUGE CLEARANCE SALE'!!!

Anonymous said...

I'm liking this blog more each day, started reading a week or so back. Thanks!

Anonymous said...

ck - do you have a mailing address for a small token of appreciation for this great site I read every morning?

CKMichaelson said...

TT & all - Thanks for the nice comments. For now, if you enjoy SAR regularly, tell a friend or two. You do have a friend or two, right?


Anonymous said...

Love how its all the Republicans fault. Sounds like you are a Commiecrat.

CKMichaelson said...

Dearest Anonymous:
It most certainly is not all the Republican's fault; I also blame the neocons, Greenspan, greed-blinded capitalists, the deregulators, the totally spineless and witless Democrats, and my mother. Not necessarily in that order.