Friday, October 14, 2011

SAR #11285

Why aren't market rallies called 'selling opportunities'?

White Noise: The figure for this weeks 'seasonally adjusted initial unemployment claims” was 404,000, a decrease of 1,000 from the previous week's revised figure of 405,000 or an increase of 3,000 from the originally reported 401,000. It really doesn't matter; it's a zero-point-something-percent variance to a number that is pretty much a guesstimate to begin with. Statistical noise.

Hell No, We Won't Go: Mayor Bloomberg has told the OWS people that they must leave Zuccotti Park on Friday so it can be 'cleaned'. Or cleansed... Rather predictably, the protesters have become hard of hearing.

Good Words:“The unanimous decision by Senate Republicans on Tuesday to filibuster and thus kill President Obama’s jobs bill was still a breathtaking act of economic vandalism.” So sayeth the NY Times editorial page.

Bring Out Your Dead: The cost of maintaining foreclosed REO properties, paying the taxes on them and ponying up for the code violations that accompany long-vacant, unsalable properties has led some of the nation's largest banks to begin giving away scores of such properties, or paying to have them demolished. It is cheaper to destroy them than sell them.

Point Of View: Rep. Virginia Foxx (R-NC) claims that a bill that permits hospitals to refuse treatment to pregnant women is not misogynistic. The hospitals can also deny service to pregnant men.

The Pennsylvania Plan: The GOP's planned 'reform' of the way Pennsylvania's electoral votes are allocated, from a winner take all system to a Congressional District level apportioning that can lead to the candidate (Obama?) with the majority of votes in the state ending up with a minority of electoral votes - thanks to the magic of GOP-controlled redistricting - is spreading. The Koch Brothers' Wisconsin subsidiary is looking into it as a way of crippling the Democrats even further than Obama already has.

Free At Last: The 'free trade' agreements approved by Congress are, of course, not about free trade. The Joint Economic Committee found that those whose jobs will be shipped overseas by these agreements are those who will have the most trouble finding new jobs. They are older workers, those without college education. Those who did not have the foresight to be born white and upper-class.

Asked and Answered: “Do the 'Occupy Wall Street' protesters represent your views of the nation's economic problems?” 1) No = 26.6%. 2) Maybe = 2.6%. 3) Yes = 70% 4) G'way = 0.8%. Hat tip to Fox News.

Want List: OWS is not demanding a revolution, not even equality. They simply want to have a chance. They want access to health care, education and not to be constantly exploited by the rich. They do not want to continue living month-to-month under the burden of unrepayable debt. They are not demanding democracy in the workplace or nor shorter hours or higher pay Their motivation is simple: they want the basic right to survive. Our society has regressed far back in time to a period before organized labor - the peasants are at the castle gate, hats in hand, asking simply for the hope of survival.

Leading By Example: Republican TN state Rep Curry Todd, who sponsored a bill allowing patrons to bring their handguns into bars, has been arrested for driving loaded drunk, with a loaded gun.

Elephant? What Elephant? Overpopulation is the complication to every other major problem facing mankind that no one talks about. It doesn't attract the efforts and money of the rich and famous because it is too big. And insoluble. And profitable. The burgeoning populations in China and India are simultaneously “lower labor costs” and “Emerging Markets” More people means cheaper labor, more demand and bigger profits - where's the problem?


kwark said...

RE "Elephant, What Elephant?" Interesting piece but the ending was kinda nuts. Why would we expect a Billionaire's club to try and "fix" the world's population problem? Moreover, even with their $billions, how could they? I know, war, pestilence, and famine. Oh wait, that's already happening anyway.

CKMichaelson said...

Right you are,kwark. I cited the piece because we all avoid addressing the problem - and looking to the rich or corporations or investment banks or politicians to "solve" this is ridiculous. It is one of those problems that might best be addressed by a world-wide Indignados/Occupy discussion.