Friday, August 31, 2012

SAR #12243

Of course things can change. They can get worse.

Convictions: Even after dozens of sources provided him with a correction, as late as Wednesday evening Paul Ryan was insisting that the GM plant in Janesville - Ryan's hometown - was closed because of Obama's economic policy. Obama, you may remember, over The Mitten's objections, rescued Detroit. But he could not save the Janesville plant, which had closed while Bush was president.

Whitewash & Hogwash: The Justice Department has just formally ended their investigation into Bush era CIA torture without bringing any charges. So now there's precedent.

Focus: Recent economic data from Germany suggests that its once invincible and recession-proof Homeland (the original, accept no substitutes) has become infected with the Mediterranean disease. Seems that imposing austerity on your customers impoverishes them and they stop buying the stuff you manufacture. How long before Hans and Gertrude decide they can go it along and it's another round of Germany for the Germans?

Rhetorical Question: Why do Keynesians think more spending will stimulate the economy? Because it will.

Trend: The latest in a string of rulings limiting the GOP’s war on voting has come down. A federal court has unanimously stopped Texas from instituting a voter ID law, joining the ruling that stopped Florida's ID law.

Sporting Chance: Michele Bachman, former Republican candidate for president and full time interstellar alien, says we should vote for Romney because President Obama is “extremely wealthy” and can’t relate to the “common man.”

Boring: Seasonally adjusted initial unemployment claims were unchanged. Again. And, at 374,000, higher than expected. Again.

Cut & Run: Citigroup has settled a class-action lawsuit with shareholders over the second-order fraud they committed in selling them fraudulently concocted mortgage-backed securities. Even on Wall Street two wrongs don't make a right.

Shock And Awe: The father of algorithm-based trading admits that high speed trading has no social value. As if anything else done on Wall Street does...

True Lies: Among the plethora of lies, falsehoods, misstatements and distortions of the truth being flung randomly about by the Rs in Tampa, there's this one: "“The stimulus was a case of political patronage, corporate welfare, and cronyism at their worst.” (that was Ryan, but there have been lots of others.) But according to the definitive account of the stimulus, only 0.0001% of stimulus funds were wasted on fraud. Even the dedicated government and Democrat hater Darrel Issa was unable to find any in his Solyndra witchhunt.

Getting Out Of The Vote: Ohio Secretary of State Jon Husted has fired two local election officials who voted to extend early voting to weekends so the working folks could vote.

Unclear On The Concept: Speaking in front of the assembled Rs in Tampa, small businessman Phil Archuleta claimed Obama's policies are “destroying us.” Apparently the $850,000 SBA loan he got wasn't big enough and the Republican cuts to the US Forest Service and DOE budgets has cut the number of signs they order from Archuleta.

Asked & Answered:Is the financial sector worth what we pay it? No, and it is not worth what it steals, either.

The Parting Shot:


Take an umbrella with you...

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