Reality is the main barrier to this recovery.
Peace In Our Time: The economic problems in Greece, Portugal and Spain - the most indebted countries in the euro zone - are likely to remain safely contained in those nations. They say. California's not a problem, either. Nor the US as a whole. They say. Don't worry about the debts, the G-7 says increased governmental spending (and deficits) is the only answer. Makes you wonder what the question was.
One Size Fits All: Just as joining the WTO and approving NAFTA ceded national rights to a super-national organization, back in 1999 the US signed the WTO's Financial Services Agreement which neutered Washington's ability to set Wall Street in order. Give it up, folks, the battle's over and the too-big-too-fail bastards won before we even knew the game was afoot.
Smaller Government: Here's the future, smaller government: Nevada will close prisons, juvenile facilities, colleges, sharply reduce social services and still be hundreds of millions in the red. The times are getting ever more interesting. In Illinois the state has simply stopped mailing checks to social service programs such as preschools, senior centers, and food banks. And in some places Fire Departments have resorted to by-the-job billing.
Conspiracy 101: The CEO of TrimTabs told CNBC that because the little guy wasn't buying stocks and the big companies weren't buying stock, that left the government to be the buyer – but he insisted he had “no evidence” of this.
Mouths of Babes: Just to establish the frame of reference in a nation where the median household's income is $50,000, the head of the Republican National Committee would like you to understand that increasing taxes on those making over $250,000 is draconian because “a million dollars is not a lot of money.”
Now It Can Be Told: Major oil companies are financing think tanks to attack the findings of global warming scientists. Seems a waste, they're doing pretty well at that themselves.
Brought To You By: It began with the Reagan deficits, thru the Clinton-era globalization that hollowed out the industrial base, to George the Younger who effective doomed the country with illegal, endless wars coupled with irresponsible tax cuts– leaving a $1.3 trillion deficit. The whole disastrous journey was planned and promoted by the anti-tax, anti-government know-nothing movement whose hatred of government has stripped away rule of law, castrated regulation, and put money above all in the political arena. Is democracy over? Is rule of law a thing of the past? Great rant, go read it.
Asked & Answered: Is Monsanto's genetically modified corn toxic? This question has been withdrawn because it is illegal to upset Big Brother's lawyers.
Knock Knock: It took 9 months to get a new head for GSA, because Sen Bond (R-KS) held up confirmation until he got some pork for KC. Better, Sen Shelby (R-AL) has placed a hold on all nominees, until he gets some pork for Alabama. First, 41 turns out to be a ruling minority and now the GOP has decided to cripple the entire Executive Branch. Republicans have no interest in serving the public, only in screwing around with the Democrats while stifling government - not for any great end, but because they can.
Duh: British authorities are warning addicts that using heroin laced with anthrax may be bad for their health.
Expert Advice: In 2008, the Mortgage Bankers Association moved into their brand new $90 million dollar headquarters in DC. Yesterday the foreclosed on building was sold for $41 million. Location, location, location.
Porn O'Graph: Don't tell the MBA... Oh, right. They know.
7 comments:
CKM, we're all waiting for more of your commentary on the Greece situation. Ok, I guess I should only speak for myself--and should not exclude any members of the community from commenting either.
Seems to me that Greece may play the role of Archduke Ferdinand in the revival. Not worth the candle but capable of burning down the theater.
ckm
re: Brought To You By
Is democracy over? If only! No, democracy is speeding us toward our fate: self-destruction.
I believe it was Mark Twain who quipped that history doesn't exactly repeat, but it does rhyme. Democracy was so successful in Greece once that it needed to take a 2000+ year recess.
I think you mean they sold it for $41 million, not $41. For $41 I would have bought it.
Right you are, omission it was, millions it is. Thanks,
ckm
How can you simultaneously be wringing your hands about the ridiculous debt we're racking up, and nonetheless be a cheerleader for another entitlement program. I just don't get it. It's classic cognitive dissonance.
I read your linked Washington Post article about Nevada's fiscal woes and found no discussion of potential prison or college closings by anyone but the story's author. It's simply unsubstantiated hyperbole to scare people.
On the topic of scare tactics, Paul Krugman has few peers. The article you linked can be summed up as "my side is losing so let’s change the rules mid-game so I can win.”
In 2005, when the Democrats were in the minority, he wrote the following:
"But the big step by extremists will be an attempt to eliminate the filibuster, so that the courts can be packed with judges less committed to upholding the law than Mr. Greer."
By his own definition, Krugman is now an extremist.
Krugman is a dishonest, hyperpartisan hypocrite.
http://www.nytimes.com/2005/03/29/opinion/29krugman.html?_r=1
Krugman is a dishonest, hyperpartisan hypocrite.
Thats how the left in Europe behaves all the bloody time.
There simply is no "right" or "wrong" for them, it is all relative to "who does it", not what is being done or said!
Is it "one of Us?" is the only thing they need to know (that was funny back in the 1980's when there still existed marxist, trotskist, stalinists, maoists and so on because they would disagree violently on everything said/done by one of the factions).
Now, it is not so funny, because everyone, from "conservative" to "socialist" more or less acts in precisely the same, uniform(ed), way.
F.ex. there is deep silence in the European media over Obamas escalation of the war in Afghanistan, the new war in Yemen, the treats of war with Iran, the ongoing extra-legal rendition of people to torture in Bagram, Afghanistan, the pathetic failure to close Guantanamo e.t.c.
Obama is "their" president, Bush was not. Therefore Obama can kill millions more than Bush did without reprisal.
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