The future hasn't worked out quite as planned.
Emperor's Clothes: "... the Euro does not work.” If Germany leaves the Euro, “the consequences would include... collapse of international trade.” And a recession worse than the 1930's. Oh, and war. But there's “close to zero probability” of this, according to UBS. Makes you wonder why they brought it up. Meanwhile, Deutsche Bank says "... numerous European banks would not survive having to revalue sovereign debt held on the banking book at market levels." Is that the Fat Lady I hear warming up, just off-stage?
Excess Baggage: What if they held a Labor Day and
nobody no reporters came? There were no 'labor' stories on the front pages of the NY Times, WSJ, LA Times, WaPo, CNBC... Before you can celebrate Labor Day, some labor would be nice – yet nearly half of the unemployed think it will be five years before the economy turns around.
Rule of Law: The two main arguments made against the government's lawsuit against the banks are 1) It's okay to lie, cheat and steal if people should expect you to lie, cheat and steal. 2) Making the robber give back the money would keep other robbers from robbing in the future. And 3) If you make the thieves give back the money, they'll go broke. Apparently the American banking system depends on deceit to survive.
Victory! Who said: "I have continued to underscore the importance of reducing regulatory burdens and regulatory uncertainty, particularly as our economy continues to recover." 1) George W. Bush. 2) Ronald Reagan. 3) Dick Cheney. 4) Other. Even FOX gets it: “Stick a fork in the EPA, it's done.”
Consistency: German Finance minister Wolfgang Schaeuble says that the cure for everything is austerity. Austerity now, austerity tomorrow, austerity forever. Eventually – he claims – confidence will return and business will turn around and if it doesn't, well, suffering is good for the soul and virtue is its own reward. The fact that it hasn't worked yet means the people are not suffering enough.
The Right Way: Mitt Romney says it is true that he has crated more jobs by doubling the size of his house than Obama has by doubling the budget deficit.
Paying the Piper: The second Greek bailout, has collapsed - because of Greek failures to
grovel comply with the terms of its fiscal austerity program. Greece now appears doomed. Italy thought it would sneak by, but ECB support is conditioned on Berlusconi behaving like an adult and Italy acting like a real country – neither of which is in the cards. Cue Hamelin and line up the children.
Smile, Pard'ner: Rick Perry says “I am actually for gun control. Use both hands.”
Practice: You already know the drill: Corporations are too heavily taxed and too heavily regulated, and that's what's holding back the economy. There's just one problem. It's not true. Corporations have literally never been more profitable than they are right now.
Suspicion: Last year New York police stopped-and-frisked over 600,000 people. Most were members of various minority groups. They walk suspiciously.
That Old Time Religion: My grandchildren don't believe that it used to be expressly and clearly legal to advocate violence against the country and its leaders. But back when the US government was still a going concern with a written constitution, the First Amendment guarantee of free speech covered such things as posting YouTube videos (which can get you over 20 years now) of selling access to the wrong TV channel (six years). Other political views will get you assassinated by the government. Let's go listen to some 9/11 patriots!
Inquiring Mind: How come welfare states like Germany, France, the Netherlands and all of Scandinavia haven't descended into a social abyss?
Didn't Get The Memo: According to the National Federation of Independent Business, the #1 problem cited by small business owners is the lack of demand - way ahead of government regulations and taxes (you have to sell stuff and make a profit in order to pay taxes).
Porn O'Graph: Plight of the Phoenix.