Wednesday, May 9, 2012

SAR #12130

Environmental crime is real crime with real victims. RFK,Jr.

Nein! Germany has explained to Monsieur Hollande that “It is not possible to renegotiate the fiscal pact." Wanna bet?

Low Key Drama:The Republicans, demonstrating their patriotic commitment to thwarting every Democratic proposal, have killed a bill that would have extended the current low interest rate on student loans. Maybe some college kids should take a trip to Montreal for a little practical education in street politics.

The Game Is Over And You Are Not A Winner: Europe voted for change. The French and Greeks threw out the incumbents in disgust and despair. They want change and an end to austerity. They want growth and jobs and reinstated social programs. They are not going to get them. There is no money. Oh, Germany may have enough to provide some stimulus, but it isn't going to part with any of it. Voting does not change reality, and in reality the past is past and the future is hard.

Theme Song: Facebook is being priced at 99 times current profits while its sales growth is slowing for the third consecutive year and competition is growing. Click your heels if you 'like' the idea.

Rule Of Thumb: Capitalism was called capitalism because of the primary role capital played in economic growth. It used to be that to catch more fish, you built more boats. These days, the boat is not the limiting factor, the fish are. Ditto trees in the forest, oil in the ground. The limit on irrigated agriculture is not the money to buy the pumps, it is the dropping water table. Our economy is becoming ever more limited by resources, which Wall Street does not have a cure for.

Meanwhile, In The Bond Market: Ten year Treasuries – taking inflation into account – are offering negative returns. If you have a secret decoder ring, you can figure out what this means in terms of anticipated inflation & economic growth.

An Awful Truth: What no politician and no economist wants to tell the 23 million (or whatever number you like) unemployed, discouraged, not in the labor force voters is that they are not needed. The post-industrial economy runs just fine without them, except for the consumption part. Only a relative handful of workers are needed to produce the essentials and most of the common luxuries. The economy needs most of the unemployed to sit at home and consume. Giving you a job actually adds to the costs with no particular benefit.

Staycation, Anyone? In the wake of the new and improved exploding underwear, new and improved TSA harassment of air travelers is expected. Add in the airlines demanding up to $100 for a carry-on bag, and I am increasingly reluctant to travel for “fun”. And I suspect I am not alone.

Pinpoint, Pinpointed: With utmost accuracy and precision, a" NATO air strike" killed an Afghan mother and five of her children. As many as 14 civilians were inadvertently killed in a separate incident. Is it 2024 yet?

Seasoned Adjustments: The BEA, BLS, Census Bureau and others who make up publish vital statistical data on the economy are about to be further cheapened by the Republicans' cuts in nondefense discretionary spending. They suggest that economy will be better served if economic data is produced by the private sector, similar to the ratings agencies, but then they don't let facts get in the way of their religious tenets. Wipe that smirk off your face.

Red Flag: Las Cruces, NM has decided that residents with unpaid red-light-camera issued traffic tickets will have to pay up or have their water, gas and sewage services shut off. Note that the city cannot take violators to court because “We don't have legal enforcement authority. We can't go through the courts; it's not that type of citation.” They “don't have enforcement authority” but can shut off utilities?


Anonymous said...

RE "Nein!":

No, it's not possible, and I'd put money on it. Hollande will do what he's told.

Think about it: a child prostitution scandal couldn't take down Berlusconi but he resigned when the markets "lost confidence he had the ability to do what must be done," or some such. You really think Hollande hasn't already met with his new masters?

Gegner said...

Um, quite the 'litany or woe' we have today...and I know you just report what you find. I am similarly handicapped.

It took some serious pushing just to get OWS out there shoving back.

The question on most folk's mind is how much longer can this go on.

(weirdly, the 'can it get any worse' question keeps answering itself!)

CKMichaelson said...

I'm with Will - All I know is what I read in the papers.

How much longer? Longer than one would suspect. Can it get any worse? Sure. Will it all end well? Well, it will all end...


OkieLawyer said...

In the fields of observation chance favors only the prepared mind. -- Louis Pasteur

Does anyone besides me have the feeling that even if we keep our eyes open and are aware of these great forces that are befalling us, that it may all come to naught when the actual event happens?