It Was Just Business: Based on the 'settlements' made by the banksters so far, it seems likely that BofA and Goldman Sachs together will have to come up with another $16 billion to paper over the securities fraud they've committed. No one will go to jail, not even Jamie Dimon, capo of the country's most successful crime syndicate. After all, he doesn't wear a hoodie.
Equality: In an attempt to prove that the Prius hybrids are equal to traditional gasoline-powered vehicles, Toyota is recalling 1.9 million of them.
Times Change: It used to be that new college grads could look forward to buying their first new car, but now they've got so much debt that they'll never be able to afford one. In the last 30 years, the earnings of college grads with full time jobs zoomed from $44,770 to $45,500. For the non-math majors, that's a rise of 1.6%. Not 1.6% a year, that's 1.6% over thirty years. Not counting interest on the school loan.
Cow/Cabbage: In a country where 40 money managers make as much as 300,000 high school teachers, it is absurd to talk about 'the dignity of labor.'
Or Else: After TN Gov Haslam threatened the workers at Volkswagon's Chatannoga plant with eternal damnation if they voted to unionize, Republicans in the TN statehouse are threatening to withhold any future state and local incentives from Volkswagon if they allow the UAW to represent their workers. Allow?
The Short Version: The US economy fell deathly sick five years ago and remains nearly comatose because of the bad choices made by politicians and their pet economists at the behest of the ruling class. Economists generally believe that economic downturns eventually end. What if this one does not? Will we vote them back in to let the scheming continue, even though their policies have only increased society's inequalities? Is it too late, have they won?
Wardrobe Malfunction: Microsoft, having been caught censoring information that might upset China, says it wasn't censoring information that might upset China. It only does that in China. The fact that Microsoft's Bing search engine couldn't find information on the Dalai Lama was an accidental “system error“, and most certainly wasn't censorship.
Drought Emergency: The on-going drought in California will likely increase the cost of marijuana. Maybe the state will step in with subsidies.
Fill In The Blanks: In order to protect their overseas trade routes, _____ and ______ have decided pool their resources [sic] and jointly build an aircraft carrier. One will get to use it in even numbered years, the other in odd-numbered years. In leap years they will rent it out to Carnival for cruises. [Turkey and Spain and no, it doesn't make any sense.]
A Ruse Is A Ruse: “US foreign policy is aggressive, reckless, belligerent, and meddling. It sanctions the destabilization and overthrow of governments, the assassination of leaders, the destruction of industry and infrastructure, the backing of military coups, death squads, and drug traffickers, and imperialism under the guise of humanitarianism. It supports corrupt and tyrannical governments and brutal sanctions and embargoes. It results in discord, strife, hatred, and terrorism toward the United States.” On purpose.
Unexpectedly: January house sales in Southern California fell 21% m/m and 9.9% y/y to their lowest level in three years. SoCal sales have not has a single month 'above average' in over seven years. It wasn't the snow and ice storms, either.
Porn O'Graph: Half-pipe.
The Parting Shot: