The difference between weather and climate is survival.
The Greater Crash: The market has now fallen farther faster than during the Great Crash of 1929-1932.
Posturing R Us: Republicans are parading around, beating on their chests and protecting the public from pork-barrel spending. Specifically offensive are some 8,000 pet projects totaling $5.5 billion - a little more than 1% of the budget's $410 billion total. The GOP portion of these earmarks has not been publicly identified. To make the process pure, funding for the pet projects of Senators who vote against the budget should be deleted.
Used Loans: Such a deal. Ford will exchange that $10 billion IOU they wrote and give you $2.9 billion - mostly in stock that's tanking. Call it $3 billion and we'll throw in a tank of gas.
Next? Life!: Having screwed up the rather simple proposition of getting rich off other people's money, the major insurance companies - Hartford, MetLife, Prudential, et al. - are prepping their lawyers and PR flacks for an assault on the Treasury.
Buy & Hope: Adjusted for inflation if you put $1,000 in the DOW in 1966, you've still got your $1,000. And not a penny more. But hang on, investing is for the long term.
Self-Employed: The Fed refuses to release documents under the Freedom Of Information Act because that applies to government agencies and they are not a government agency. They are a private bank. Try to remember that the next time Ben obligates the Treasury for a few hundred billion.
Bloomberg: Pacific Investment Management is postponing the dividend payments three of its funds declared last month because this month they haven't got enough money.
Hat Dance: Last weekend 2,000 Mexican armed federal police and soldiers poured into Ciudad Juarez to join 2,500 soldiers and federal police who have fighting a losing war with drug traffickers. Another 3,000 soldiers and Federales will soon reinforce this effort to wrest control of the city of 1.6 million from the drug gangs.
Where's Smedly? Chavez has nationalized Cargill, too bad the marines are all busy securing poppy fields.
Surrender: So there was Geithner - who didn't pay his taxes - testifying before Charles Rangel - who also didn't pay his taxes - about government finances. We're gonna need more Scotch to get through this.
Me First! Which of the following will lead to economic collapse and social unrest? (a) The credit crisis. (b) Peak oil. (c) Climate change/global warming. (d) Water shortages. (e) Any of the above.
How High Is Up? The Obama housing bailout is ridiculously unfair. Here are some suggestions to level the preying field: Everyone gets $1,000 a year for the next 5 years. All mortgages reset to 2%. Rents are lowered by 35%. All second liens, car loans, school loans, and credit card debt is forgiven. And so on.
Both Sides: Reliance on natural gas as an alternative transportation fuel is a short term solution that will make the long term solution more difficult to reach. While there is a current surplus of natural gas in the US, it will rapidly decline within 20 years, leaving us that much further into petroleum's decline without a long-term solution.
It's Getting Wurst: German industrial orders were down 42% in January.
Implants: Apparently Obama, Biden, Summers and the rest are wearing RFID chips so Chief of Staff Rahm Emanuel can keep track of them.
Rank In Descending Order: How will GE survive its current difficulties: (a) Sell off parts of the company and call it a diet. (b) Recall Jack. (c) Get lots of money from whoever has some left. (d) Get promises from the Treasury to back GE's debts. (e) Get billions from the government. (f) Survive?
Porn O'Graph: Political geography at work.