If the recession's over, what's all that stuff around the edges?
Doing Math: Single family house starts in July were at an annual rate of 581,000. Fifty states, that an average of 11,600 per state per year, call it 1000 a month. Per state. More than 37% below last year and they're calling “a silver lining”, and “a turn around”.
Rules of the Game: It is not a debate – it's about fear. And it's not about health care, it's about the far right knowing the only thing they can do is to disrupt the Democrats programs and hope that the noise and disarray and fear will increase the GOP's palatability at the polls the next time around. The GOP doesn't care about health care and they don't care about what might be good for the country, they just want to make the Democrats bleed. The liars are winning.
Delinquency, Rated: Residential real estate, 8.8%. Commercial real estate, 7.9%. Credit cards, 6.7%. Residential real estate charge-offs are up 30% to 2.3%, credit cards up 25% to 9.5%.
Allies: If – for whatever reason or lack thereof – you chose to deny global warming, you are in the same camp as Exxon, BP, Peabody Coal, and now Cargill, Tyson, and General Mills. Of course Exxon, BP, Peabody Coal, Cargill, Tyson, and General Mills are interested in nothing but profits. What's your excuse?
Less? I've got to pay Less?: The Producer Price Index is a minus 6.8%. Lowest since 1949. If you've got money, it goes further. If you haven't, too bad.
Shame? Is backdating stock options wrong if you're not caught?” Is it fair for the US to pressure foreign banks into divulging the accounts of tax dodgers who hid their income overseas in the good faith belief they wouldn't be caught? Both of these discussions took place on CNBC in the past couple of days – with the stars and starlets being mystified as to what might be wrong. Any questions?
Good Question: Why is the US taxpayer subsidizing Chinese participation in PPIP ? China puts up $2 billion, Treasury matches that with $2 billion, and pretends that 2 + 2 = 24 and the Chinese get $24 billion in distressed assets that are guaranteed by the FDIC. I simply do not understand this one.
The plan: Give banks nearly unlimited funds with no particular conditions attached and no supervision, look the other way while the banks take immense risks with the taxpayer funds while paying themselves bonuses. When they get in more trouble, bail them out again. Act surprised when nothing changes.
Exactly: “Americans Want 'Freedom to Pay Too Much for Inferior Health Care'”
What If: Over longish periods of time, the stock market has reflected the earnings of the individual companies. If that were true today, what would an examination of the level, direction, and prospects for future earnings of today's companies suggest the near term future of the stock market might be? Just askin'.
Eat Your Spinach: Your grandchildren cannot vote. Thank goodnes 71% of you want the Senate to pass the American Clean Energy and Security Act that passed the House a month ago. You are the one who is going to have to drive a smaller car, bike, or walk. And yes, you'll pay more for gasoline – or do without, live a lower impact life, pay the price to cut carbon emissions. You. But only if you can get your Senators to do the right thing.
Give 'til it Hurts: Clever folks at the U of Vt have designed a tap/spout that will suck 90% more maple sap from a tree, thus increasing the production of maple syrup. Hope someone asked the trees how they felt about this.
Porn O'Graph: We've only just begun... falling?