Friday, September 30, 2016
The bills are coming due.
Vocabulary Test: The president said the bill permitting Americans to sue Saudi Arabia could erode the concept of sovereign immunity, not only making American citizens and their assets abroad vulnerable to lawsuits, but leaving the American government and its leaders “exposed to liabilities for all the work that we're doing all around the world.” Define 'work.'
Pot, Kettle: Credit Suisse's CEO – one of Europe’s most senior bankers – warns that Europe's banks are “not really investable”. Excepting, one assumes, Credit Suisse?
Yardstick: By most measures, the Fed's last 7 years have not produced stellar results, but it got the intended result: It inflated asset prices and saved Wall Street from its stupidity and criminality.
This Time It Is Different: Every previous credit boom has been followed by a credit bust. UN economists expect a global financial crisis triggered by epic debt defaults.
Faint Praise: Six prominent climate change scientists have warned the world's leaders that signing the Paris agreement was at best well intentioned words and that if actual serious steps are not promptly taken, global temperatures will surpass the 2°C mark by 2050. They stressed that the cuts and curbs promised in Paris are simply not enough, “not even close.”
In Short: “Donald Trump oozes contempt for the status quo.” Trump's pronouncements on trade and the economy are not true, nor are his promised actions remotely plausible. This does not matter for it speaks to the pain and anger felt in many former manufacturing centers. And that's what gets him votes.
Protecting The Serving: A new NC law blocks the public from ever seeing police dashboard and body camera videos, while a new Iowa statue will keep the public from ever seeing the results of investigations into police actions. How'd we let the cops get so much power?
House That? Since 1999 home prices have risen 76% while household income has grown less than 2%; you do the math.
Your Move: One thing that voting for a thrid-party candidate could accomplish is to deprive the winning mainstream candidate of enough votes to prevent the pretense of some sort of 'mandate'. Splitting your vote between the top of the ticket and the Congresscritters may go a long way towards creating a totally ineffective administration, which might not be such a bad thing. If you think one or the other of these jokers is godawful, think how much worse it would be if the same party controlled the White House and Congress.
Porn O'Graph: More for less.
A Parting Shot:
Posted by Charles Kingsley Michaelson, III at 7:18 AM