Wednesday, May 23, 2012

SAR #12143

Representative government has some obvious drawbacks.

Facing Up To It: Facebook lost another 8.7% on Tuesday, closing at $31.12. If you bought at $38 you're down 18%. So far.

Absolutely Safe: Chesapeake Energy, still maintaining that fracking is 100% safe, is screening all private wells with a half-mile of its Morse drilling pad in Bradford County, Pennsylvania after state environmental scientists found methane in nearby private water wells.

Asked & Answered: Do market economies make us "Greedy, Selfish, and Amoral"? No, it's the other way around.

Promises, Promises: Take them at their word. The Boehner/McConnell led Republicans will use the next required increase in the federal government's borrowing limit as a lever to try to force changes they cannot achieve in regular legislation. They will link arms and chant “It's our way or no way!” over and over. It's called blackmail and it is irresponsible.

Big Man On Campus: China's sovereign wealth fund's Jin says the renminbi will become the world's reserve currency. Them's fighting words.

The In Crowd:  Morgan Stanley quietly cut their projections for Facebook's earnings before the IPO, and warned told the select among their clientele. It may have been legal; it does not seem moral. If you've lost money based on the public information they provided, call your congressman attorney.

Deja Vu: The KKK is inviting all white North Carolinians to a celebratory cross burning. Well, not if you are lesbian, gay, bisexual or transgendered; then you should detained in special camps until you are dead.

Experts: The essential qualifications needed to be a success in high finance are (1) the ability to find fools to act as counterparties, (2) the ability to evade regulations, (3) the ability to disguise gambling as investing, and (4) an ingrained belief that you do these things better than anyone else ever has.

Sins of the Fathers: Romney is “greatly disturbed” that the US isn't denying Mariela Castro a visa to punish her father & uncle. Or is it because she's speaking out against homophobia?

Icebergs Ahead! The CBO says that together, the spending cuts scheduled for 2013 and the expiration of the Bush tax cuts will cut 4% off 2013's GDP. Which would make GDP for the year quite negative, contradicting the Republican claim that reducing the federal budget deficit will spur economic growth.

The Parting Shot:


In wildness is the preservation of the world. Henry David Thoreau

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