War is a feature, not a flaw, in our economic system.
East Central Asia: In Kygyzstan, Kyrgyzies are slaughtering Uzbecks because they aren't Kygyzies. I've sent away for a pamphlet that will explain the differences and why it matters. It's a companion volume to the one explaining differences in the two types of Irish folk, various Semites and other vitally important trivia.
Without Comment: The FAA is under pressure to open US skies to drones...
Forward into the Past: It is widely acknowledged that FDR's error was caving in to the deficit hawks and reversing the recovery from the Great Depression, making it even worse. They're back. The lunatics are in charge and they want to cut, cut, cut – based on the medieval belief that bloodletting will make us better. And if it doesn't, it will at least please the banks and bond markets. The Germans are doing it. The French, too. The Greeks, the Spanish and the Portuguese believe they have no choice but to do it. The UK, too. Thus we lose another battle in the war between the bankers and the people.
Dateline: 13 June 2010. Today BP started deploying undersea sensors to measure the amount of crude oil gushing from the seabed. Only 55 days late. This joins the long list of BP cost-cutting measures.
Monopoly: US law enforcement authorities claim that the 1 million gang members in the US are responsible for 80% of all US crime. Ought to be a law.
Encouragement: With just a tad of encouragement from the White House, BP has come up with a new plan that will let it capture 50,000 barrels of oil a day from a leak they claim is only leaking 25,000 barrels a day, up from only 5,000 bpd a couple of PR announcements ago.
Send Money: Fannie and Freddie need another trillion or so to keep the US housing market afloat. But hey, it's the American Dream – to have your neighbors buy you a house....
Re-appraisal: Looking back over the last two years, Nassim Taleb sees the economic situation today as drastically worse, with no recovery in sight. He sees more debt, more unemployment, a smaller tax base, larger risks, and the euro as “a doomed concept.”
No Problem: In Australia there are fears the government may record internet user's browser history and details of their emails. We Americans can reassure them that it is painless – NSA's been doing this for a decade or more and only a few of us have disappeared. So far.
Understatement: “It will be some time before home values increase significantly.”
Clip & Save: President Obama promised Monday that "things are going to return to normal" along the Gulf Coast and that the region's fouled waters will be in even better shape than before BP spilled a gazillion barrels of oil into the Gulf.
Cleanup Camps: BP is hiring thousands of unemployed Gulf Coast fisherman, shrimpers, hotel maids and tour guides to clean up the oil spill. These folks have homes in the area – plus there are any number of empty motel rooms available. So why is BP building a temporary camp to house 1,500 clean-up workers? A camp with its own police and policies – like no alcohol, no reporters.... Do they plan on bringing in migrant workers who won't be so inclined to complain about not being provided safety gear and have a harder time getting compensation when they get sick from a lack of proper clothing and equipment?