Thursday, July 1, 2010

SAR #10182

They owe us our way of life!

Slow Learners:  The House of Representatives has endorsed a resumption of the home-buyer tax bribe.  The Senate, too, will pass it soon. Why is it that only the bad ones get bipartisan support?

Jobs Up!  ADP estimates that non-farm private employment increased 13,000 from May to June.  That brings the total increase over the last five months to 34,000.  Don't get too excited, there are still way over 10 million more folks looking for one of those 34,000 jobs.

Remember: Always Low Prices.

Just Sayin'   CNN reports that the vast majority of those who worked to clean up the 1989 Exxon Valdez oil spill in Alaska are now dead, and that the life expectancy for those who worked to clean up the Exxon Valdez oil spill is about 51 years.  Safety gear? BP don't issue no safety gear.  Tie a hanky over your nose and quit worrying about that dispersant stuff.

Essay Question:  Did 9/11 justify the war in Afghanistan?  Extra Credit: If not, explain why it happened and continues to happen.  Specific identities of those benefiting the most earn extra points.

Fiscal responsibility:  The most impressive facet of today's financial landscape is how much of their bad debts the financial sector was able to quickly transform into government debt to be paid through austerity measures imposed on the taxpayers.   After bailing out the banks, governments are destitute and will try to force the public to live on bread and water so the treasury can continue to feed the wealthy.  When you hear a deficit hawk warning of the dangers at some far future date, remember this is class warfare and your class is not the one that's winning.   And that the danger is now.

Back At the Ranch: In case you were beginning to believe BP's propaganda, note that the Department of the Interior just fined BP $5.2 million for lying.

Bullshit Alert:  Someone named Megan McArdle has an article at The Atlantic which insists “Austerity In America Will Be Painful, But It Will Be WAY Better Than Having A National Debt Crisis” as if those were the only choices available.

Lying Ears: Apple says the iPhone4 “is the best we have ever shipped”, that antenna problems “are a fact of life” and that your phone does not need repair, you are just “holding it wrong.”  And millions of blindly loyal Appleites will nod their heads and twist their arms up and about and disregard the evidence right being whispered in their ears.

ABC, 1-2-3, Do Rae Me:  Meredith Whitney sees house prices falling another 10% by the end of the year, which will hurt bank earnings (because the banks are running out of places to hide their losses) and lead to a decline in the economy as consumer spending dwindles.  For the want of a nail...

A Quiet Disaster:   BP owns a multi-billion dollar oil platform called Thunder Horse. It was designed to pump 250,000 bpd.  Production began in 2008 and by January 2009 it was producing 170,000 bpd.  Production has fallen steadily since then and now only 70,000 bpd dribbles out – about as much as is spilling out of BP's other disaster.  Maybe, just maybe, drilling deep holes in deep water isn't such a sure thing.

Ducking Death:   Alberta's Energy Minister says that the death of 1,600 ducks in Syncrude's toxic ponds has been "overpublicized".  A discrete note in the obituaries saying  “after a brief illness…” - would have been sufficient.

Daily Downer:   The Economist sees a future of stagnation, default or inflation, Or first one and then the others in that order.  “The only way out is growth” but when it becomes clear we are approaching the 'Limits of Growth' all hell will break loose, as a few billion people start going through the grieving process.  If the only way out is growth, there is no way out.


Charles Kingsley Michaelson, III said...

Dear Early Readers - Those who visited SAR in its first hour today were greeted with any number of errors and omissions, for which I'd like to blame Louis.

Instead, I blame it on getting ready for vacation - which most likely will result in a few day's gap in commentary.


Anonymous said...

RE: Remember

Picture should be required to be put at the end of all the Big Box retailer's commercials.


Anonymous said...

Enjoy your vacation, CK.

Anonymous said...

"The Economist sees a future of stagnation, default or inflation"

That which we call a rose. By any other name would smell as sweet.

And that which we call doom would fill thy nostrils with acrid stench, where'er the rose by which it come.

Hide thee down and grasp thy legs, the better to kiss the arse that bestrid thee hither...adieu.

-- aitrader