Tuesday, October 15, 2013

SAR #13288

As long as it's the same pie, all we're fighting over are the crumbs.

Flim Flam Forever: The overnight talk is of a compromise that will put off doing anything about a budget until January (remember how well that worked out last January) and put off the debt ceiling Doomsday until mid-February. Then we can have this play again, where the Republicans hold a gun to the country's head and demand cuts in entitlements (they don't dare say Social Security and Medicare, but that's what they're after) and the Democrats buckle. Been there, done that. How about this: No deal unless the extortion ends permanently.

Sad But True: There are no safe havens for investors, none.

Averages: About 2,500 people have been killed by the US drone campaign to generate more terrorists. Over half were civilians. The other half were al-Qaeda leaders. Really, read the reports.

Quoted: This fight is in danger of becoming a cliffhanger, yet it is also planned to set the stage for the big deficit-cutting deal which the Democrats and traditional Republicans intend to cut social safety nets, most importantly, Social Security and Medicare. ...trying to reduce government spending [now] is not a good idea (we aren’t even close to the conditions where it might be warranted), ...projected Medicare cost increases, which are the lynchpin for the debt scaremongering, are considerably overstated ...cutting deficits now will worsen, rather than improve, the government debt to GDP ratio." 
Parts Is Parts: Without being too picky, wouldn't you expect that when the auto shop bills you for a new alternator they actually put in a new alternator? Okay, but if you've asked Boeing to repair your helicopter, ask 'em for the old parts back. Seems they billed the Army for new parts but "primarily installed used parts." Gotta make a buck where you can, it's the American way. 
Plain Pain: Goldman Sachs says that the first two weeks of the government shutdown has cut 4Q GDP from 2.5% to 2.0%. They used the world "only". 
Briar Patch: While the people's elected representatives are struggling to bring debt under control, the people are piling up record amount of debt at home. Consumer credit is up 22% over the last three years (now at $3.04 trillion). Total household debt is $13 trillion, not that short of Uncle Sam's $16 trillion. 
Blackmailer Bragging: Paul Ryan (Serious PersonTM -WI) is bragging that House Republicans had demanded a one-year delay in the ACA individual mandate in exchange for putting off national default for six weeks. Then, for another six week delay, Social Security would have to be privatized. Then, just before Christmas, food stamps and WIC would be cut... And so on. 
Talking Point: About half of all recent college graduates are working jobs that do not require a college degree - and won't pay them enough money to pay back their student loans. Tell me about the housing recovery...

The Parting Shot:
 Calico Aster, Aster lateriflores.

No comments: