Saturday, February 26, 2011

SAR #11057

Interconnectedness was supposed to be globalization's advantage.

Considerations: As the slaughter in Libya reaches a crescendo, the US and NATO have begun discussing “humanitarian intervention”. How is this different that the humanitarian crisis in the Sudan? Oh wait, that's China's oil.

The Battle Is Joined: They keep saying there's no class war in this country. They lie. What's going on in Wisconsin is the opening salvo in the corporate plutocrats' attempt to impose a rigid right-wing conservative vision on the former middle class, to end collective bargaining, to abolish tenure, to sell off government properties to their friends – to do to us what they've done overseas for the last 40 years through the IMF and corporate raiders and the World Bank. The only budget to which this really applies is that kept by the Koch brothers and their ilk.

Oil Patch Humor: “Officials there have discovered approximately 70 major oil fields that they have left untapped over concerns that increased Saudi production would cause global oil prices to collapse.” Don't worry, “There is no reason for oil prices to rise because Saudi Arabia and OPEC won’t allow shortages to exist.” So sayeth the Saudis. Could you define 'major', please, then show me on the map... Oh, wait, the article is by Michael C. Lynch, Mr. $20 oil himself. Never mind.

What Will They Think Of Next? Arizona’s Republican-run Senate wants to require that foreclosures contain a complete chain of ownership for the property, that each change of ownership be recorded at the courthouse at the time of the transfer, and that recording fees be paid.

Things That Go Bump In The Night: Under cover of darkness early Friday morning, Republicans in the Wisconsin Assembly passed a bill stripping collective bargaining rights from public workers and sent it to the Senate, where Democratic Senators remain on strike.

Hit & Run: The combined number of houses owned by the taxpayers through Fannie, Freddie and the FHA is now just shy of 300,000 units. More than enough to meet the current annual demand for new houses. But these aren't new – just a bunch of repos.

Pot/Kettle: A government study found that the US has wasted tens of billions of dollars on the wars in Iraq and Afghanistan. Another study will soon find that the money spent on this study was pretty much a waste, too.

Better Late Than... The US has announced sanctions on the Gaddafi regime in Libya, so we can tell which way that wind is blowing. Meanwhile tens of thousands are in Yemen's streets and in the public squares of Baghdad. Stay tuned for the White House to figure out what it's safe to say, and when.

Shave: Fourth quarter GDP was revised downward from 3.2% to 2.8%. Let's have 10% less enthusiasm, please.

Surrender: The EPA has given in to the GOP and has revised air pollution rules to permit thousands of industrial boilers and incinerators to keep polluting our air and driving global warming meet federal air quality standards.

Dispassionate Analysis: “Global economic growth is not such a fragile beast that a spike in oil prices of $US10 or even $US20 will cause much harm. Define the duration of a 'spike' and describe how “much” is “much”.

Good/Bad/Ugly: Freddie Mac only lost $113 million in 4Q 2010 and just $14 billion for the whole year. It expects house prices to fall further, and needs another $500 million advance on its allowance.

Porn O'Graph: Wisconsin Roadmap.

5 comments:

OSR said...

There really is no class war in this country. The war is over and we lost big. Everything from the crash of 2008 to the present are the victors claiming their spoils.

As I see it, the middle class has two powers remaining. The power to spend and the power to invest. Rest assured each is being systematically dismantled by both parties. Once the municipalities and states begin to fail, we'll see privatization rammed in and we can can kiss disposal income goodbye.

fajensen said...

It is scarier than that: Since the top 1% can now get all the funding they need directly from the central banks there is actually no need to have a middle class at all!

The only need for people is to have enough able bodies for the security apparatus, the military and the organ banks.

Anonymous said...

I'd love to see a debate between you and Karl Denninger.

From his website;
Britain's Climate Lab was hacked into and their data and software - which they had refused to release in response to FOIA requests - became available to the public. I and thousands of other skilled computer programmers examined the software and documentation in detail. We discovered that the original, unfiltered and unaltered data was destroyed and thus we cannot replicate any of the original filtering studies. We also find, when we examine the software, that there are intentional "fudge factors" inserted into the calculations for the express purpose of making the desired conclusion show up, and that when those "adjustments" are removed and the calculations run again the alleged warming that has been reported didn't really take place. In fact, there has been no global increase in temperature on the actual basis of measurement in like-for-like locations for the last ten years. Got that folks? There has been no actual Global Warming, despite CO2 levels increasing in the atmosphere. A trillion-dollar industry in the trading of carbon credits, which has now been scuttled in the United States, was being established predicated on an intentional and international scientific scam.

CKMichaelson said...

The size, complexity and extent of the conspiracy postulated by Mr. Denninger is exceeded only by the absolute discipline which its shadowy originators impress on tens of thousands of people smart enough to get PhDs. I'm not sure who is the most gullible here, Denninger and the deniers, the thousands of conniving scientists who are seeking to understand the world, or those of us who buy their consistent findings.

you are entitled to your own opinions, you are not entitled to your own facts. I'll take the side of the system that makes progress by overturning previous 'truths'.

ckm

Anonymous said...

Anon 12:05

I guess the key for both you and CK is; Did Karl really examine the code and try to recreate the results("I and thousands of other skilled computer programmers examined the software and documentation in detail.")

I'm calling BS. I like Karl and read him often, but I don't believe he personally examined any code nor did he personally try to replicate results.

BTW, I'd like to see an authoritative examination Karl's thesis.

RBM