Saturday, March 21, 2009

SAR #9080/Weekender

We keep betting on the losing horse in a race that's over.

Quoted: The United States is the largest borrower in the world. The US national debt has already exceeded the level of 11 trillion dollars as of the beginning of 2009 and continues to grow like an avalanche. Experts say that the US has only two ways to solve the problem: to declare default or trigger off a war. And that's the Truth - or at least Pravda.

Fine Print: Job losses in the current downturn are steeper than in most recent recessions, which suggests employment will not return to pre-recession levels until 2015.

It's Not the Credit, Stupid! Here's why giving banks billions doesn't increase borrowing: The median income for a full time worker is $37,000. Adjusted for inflation, that is less than the worker's dad earned in 1973. Tell this to Obama, Summers, Geithner and Bernanke.

Well, Duh! Severe Dollar Depreciation Likely in the Coming Months, or so forty-eleven headlines say.

Drill Over There, Drill Later: Petroleum explorers are putting off and canceling deep-water drilling plans that were projected to produce about 2.5 million barrels a day by 2011. Low prices and tight credit get the credit/blame. Come 2011 we're going to miss those barrels.

Knock Knock: Researchers have proven that Mom was right for always telling Dad he'd already told that one; seems there are but 8 basic jokes.

Fish In Barrel: If you say it can't be done, then you fail to do it, can you brag that you've proven your point? Not in any bar I know. But if you're a right-wing GOPer who ran for office on a platform claiming government couldn't work, does the Bush administration prove your point? Or does it just prove that bunch couldn't run a koolaid stand?

European Vacation: In February, production in the Euro market fell 17% YoY, up from a 15% decline in January.

The Year of Living Dangerously: Twenty-five percent of American families are one paycheck from disaster. Fully half of all Americans say that they could pay their bills for only a month if they lost their jobs. More than that would be desperate after two months' unemployment. And that's before the baby gets sick.

Fill in the Blanks: Riots broke out on ________ streets as protesters demonstrated against _________'s handling of the economic crisis. Millions of _________ took to the streets earlier in a nationwide protest over the escalating cost of _________ .

Insured by the FDIC: The FDIC lost $10.7 billion cleaning up and selling off IndyMac - not the original estimated loss of $4 billion. Mrs. Hubbard, in charge of solvency at the FDIC, said the supplies in the pantry are fine, as long as you don't actually want to use them.

Smart Alecs: Research shows that cognitive skills peak in the early 20's and decline thereafter. My son pointed this out to me the other day but it slipped my mind.

Clear and Present Danger: The $1.2 trillion or so the Fed is going to spread like mulch around the strawberries isn't going to get a single worker a single raise, isn't going to get a single homeowner out from under an underwater mortgage. Isn't going to affect corporate debt or bank debt... Isn't gonna do much but print paper. Maybe you can teach the pup to go on it.

Long and Winding Road: There's an old Chinese saying: "The journey to a worthless dollar begins with a single step." The Fed took that step yesterday.

Porn O'Graph: S&P 500 earnings are getting to resemble gratuities.

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