SAR #11353

Everyone’s basic needs should take precedence over anyone’s greed. Jodi Dean

The Plan, Version 5.63: Remember when Ben gave the banks free money in exchange for iffy assets in the hope that they would then lend it out and create some jobs? And how they took the money and lent it back to the US Treasury? The ECB is going to try the same trick, in hopes that the banks will invest (?) in Italian and Spanish etc. covering bonds. Even though the banks say they won't. Nothing in this process actually improves the likelihood that Spain or Italy, etc. will ever be able to repay their debts. And the ECB can't lend out more than 25% of the €2 trillion it would take. But if some banks can make a nice profit from it, I'm sure it will be called a success.

See/Do: Secretary Clinton is upset that Egyptian security forces are acting like their counterparts in Bahrain, Oakland, Saudi Arabia, Syria and UC Davis.

Asked & Answered:Why are Republicans against the payroll tax cut? First, what part of 'payroll' don't you understand? Then there's the chance that it might make the economy better and they certainly don't want that - not until Obama is a memory. And dropping GDP an additional 1.7% in 2012 will be okay, as long as they can extort a bunch of stuff for their donors out of the negotiations.

Pattern Learning: The Bush/Cheney/Gingrich folks are sick with envy that Hungary's leaders are getting call constitutional reform.

Driving Around: The markets soared today, supposedly on the good housing news which was that housing starts were up 9.3% m/m, building permits (up 5.1% m/m), and completions (up 5.6%) . But to the census bureau a 'house' includes a multifamily rental property... an apartment. A 25% jump in multifamily construction accounted for almost all of the gain.

Looking Before Leaping: Yes, fracking and shale gas are going to make folks rich, but mostly just the one selling the stock. Natural gas at $3.10/mmBTU isn't going to do anything much, certainly not create a million jobs.

Once Upon A TimeIn America: The 1% see the 99% as impedimentia, to be avoided when possible and ignored when unavoidable. Home Depot's Bernard Marcus asks, "Who gives a crap about some imbeciles? Are you kidding me?” And the always beloved Jamie Dimon of JPMorgan - who made $23 million in 2010, is willing to admit, "“Sometimes there’s a bad apple," but complains that all the rich bankers get tarred with the same brush. We've always had the rich, but once upon a time they had manners and some sense of shame.

Progress: Wasn't it better in the old days, when you had to actually stuff the ballot boxes? All electronic voting has done is make it harder to spot, harder to prove and easier to get away with. Which explains why the politicians are in favor or it.