When a politician says 'we', ask for a definition.
Progress Report: According to General McCrystal, violence in Afghanistan is up 90%, roadside bombs have increased 240%, only a quarter of the country supports Karzai's government, and corruption is out of control - but things are looking promising. It helps to squint a little.
Close, No Banana: El-Erian says PIMCO won't buy Greek bonds
until hell freezes over until there is “a sustainable solution to the nation’s fiscal crisis.” That, and someone teaches the little PIIGS to fly.
It's Only A Paper Moon: BP shareholders are $12 billion poorer from just one day's drop in share price. The rig wasn't the only thing that collapsed.
Rate Of Change Changing: Throw a ball up. Just before it turns to come down, it slows and nearly stops. That slowing in the rate of ascent is what's known as a clue. Many 'leading indicators' are slowing in their rate of accent. Wonder if it's a clue?
Complete the Sequence: Greece, Portugal, Spain, Ireland, Italy, United Kingdom, United....
Action/Reaction: The market is up again, pleased that the adults are going to bail out Greece. But one of those adults is the IMF. The US is the majority contributor to the IMF and when it blows tens of billions saving the banks that bought Greek bonds, those tens of billions will come out of the US taxpayer's hide – at about the same time as the cheaper Euro kills export jobs in the US. Party on.
Slippery Slope: The difference between showing your ID to get a library card and having to show a cop your “papers” on a dark street late at night is that librarians don't carry guns and the cop can put you in jail.
Mother Hubbard: Now phosphorous production that has reached a peak and will decline and cause problems because there is no handy substitute. Look, we're running out of everything and not doing real good at finding substitutes. Extraction industries follow a curve - ramp up, peak and then dwindle away – so could we stop with all the 'peak' this and 'peak' that? It has lost its dramatic impact. Just assume that we’re running out of everything.
Essay Question: What is 'productive investment' and when did you last see one?
The Quality of Mercy... Congress seems inclined to say that 99 weeks of unemployment benefits is enough. Well, not enough, but all they're going to pay for. Hundreds of thousands of unemployed voters have already run out of time, money and hope. Now a few million more will. Wonder how it'll all play out.
Lettering: Neil Barofsky, TARP's Special Inspector General, says that his probe of an alleged New York Fed coverup in the AIG case could result in criminal charges. Don't tell Little Timmy Geithner.
Quoted: "The 20th century has been characterized by three developments of great political importance: The growth of democracy, the growth of corporate power, and the growth of corporate propaganda as a means of protecting corporate power against democracy."
Action Figure: In Iowa, GOP candidate Paul Bertoche wants immigrants captured, branded with an implanted microchip and let lose, so “we know where they are and where they are going.” As long as they're working on the farm, they're okay.