Wednesday, August 25, 2010

SAR #10237

It seems unbridled greed 'free markets' wasn't the best answer.

Two Part Assignment:  First, Google “Alan Simpson + tits + honest work”.    Then explain why Simpson should be allowed out in public, much less be co-chair of the Committee to Kill Social Security.

Co-Dependency:  PIMCO's Bill Gross says there is no way to get down off the tiger's back and we might as well totally nationalize housing in the US. He says it would simply be recognizing “the necessity, not the desirability” of socializing the economy in order to make it profitable for the capitalists.  He has a dog in this fight.

Rule Revision:  Thomas Hoenig, President of the KC Fed says that if you think your house is an investment – a good investment – you are wrong. That era is gone, probably for good.

Gold in the Streets:  First there was the rumor that Cairn had found oil off Greenland and its stock rose.  Then they announced all they'd found was some natural gas, so their value fell.  But for a little while there, Gracie, we were in the money!

Words and their Meanings:  There are no more 'combat' troops in Iraq. Sure. And long after next July when US forces begin their pullout from Afghanistan there will still be “a significant number of US marines and combat forces 'hammering' militants there “for a few years”, according the Marine Corps Commandant.   No, his name's not Orwell.

Abbot & Costello Should Sue:  None of the senior managers on board the Deepwater Horizon knows who was in charge when all hell broke out. Each is pretty sure it wasn't him. Who's on first?

One In the Bush:  Extending the Bush tax cuts for the wealthy will add $680 billion to the deficit over the next 10 years – most of which will go to the richest 0.1% of the country.  Remember how the Republicans delayed a piddling $26 billion in aid for cash-starved states?  And even more delay in giving some help to the long-term unemployed?  Well they want to give the rich their money right away – checks averaging $3,000,000 each to the richest 120,000 in the country.

The Spin:  What a great time to buy an existing house – after sales fell 27% in July (m/m) you've got even more to chose from!   More than a year's supply.  More than twice the normal number to select from.

Spokes, Clothespin, Playing Card:  In the early days, some places required a horseless carriage be preceded by a man on foot with a lantern – to warn an auto was coming.  Now Prius is – for $150 – putting in a special speaker system that will play the noise of a gasoline engine, so you won't scare the women and children.

Dogs, Baying at the Moon:  Moody's now says the austerity measures being forced onto the citizens and governments of Greece, Spain, etc. will probably make things worse, not better.  They were citing the fact that tight fiscal controls would slow economic growth – not even considering the riots and all.

Let's Make A Deal:  While marveling at the rush by state and local governments to auction off public assets – parking meters, zoos, airports, everything must go – marvel at this:  Wall Street is the middleman, taking a cut from both seller and buyer.   “...the dominant economic doctrine of the past three decades, the worship of sociopaths, remains firmly entrenched.”

Refrigerator Art:  The Saudis say crude oil will be about $82 a barrel come January.  Put this one on the fridge next to Dilbert and the JPMorgan forecast for $50 oil from a couple of day ago.

Reminder: When businesses are dead in the water and consumers are stuck on the couch at home, more debt is not on the way to rescue the economy ruined by too much debt. Nothing is on the way to rescue this economy.


Anonymous said...

Co-Dependency: ....


Matte Gray said...

What the Prius really needs as an accessory in San Francisco, the American city with the largest percentage of them, is a speaker system that will imitate the distinctive sound of the warning bell on our streetcars, a sound that strikes terror into the heart of every San Franciscan. You hear that sound behind you, and you know twenty tons of Trouble is approaching.

Anonymous said...

"It seems 'free markets' wasn't the best answer."

Ah, another socialist out to use *my* money to fund *his* agenda. 1) What part of "free market" do you find evident in the current system? 2) What wisdom do *you* (or any of your designees) have over me that gives you the right redistribute my hard earned dollars as *you* see fit?

How about you take your agenda and hyberbole and fund them with *your* hard-earned dollars and you and yours leave me and mine well enough alone, eh?

brokeboater said...

I don't have anything to add to your fine work but I wanted to at least let you know how much I enjoy your blog. Please, keep up the good work.

Charles Kingsley Michaelson, III said...

Ah, great name, brokeboater. I was one for a time, trying to keep a 34-foot Hunter afloat without sinking myself.

Glad you like the work - thanks & spread the word.


mistah charley, ph.d. said...

My late father, Colonel Charley, had a couple of boats in his time (sequentially, not simultaneously). From him I heard the saying, "The second happiest day in a boat owner's life is when you buy the boat. The happiest day is when you sell the boat."

The sour sneering your comments sometimes provoke is a lightly-disguised squeal of rage from those whose contempt you should welcome and return. Consider it a compliment.

This is one of the sites I come to first each day.

Charles Kingsley Michaelson, III said...

mista c - I my case I'd have to revise the observation to: The happiest day is when your wife says "We need a bigger boat."

True story.


brokeboater said...

The broke boater name is a bit of self depreciating humor. I've been (was) a yacht broker for 30 years. Unfortunately, the end of the market I specialize in has been one of the worst hit, ie cruising sailboats in the 25' to 40' range. With our income being commission based on percentage of selling price, we've had a double whammy of decreasing sales and sales price. Most all the boats in our range, and a Hunter 34 was one of our bread and butter boats, have been cut in half price wise.

Charles Kingsley Michaelson, III said...

brokeboater - Boat brokers need a sense of humor. We sold our 28 foot Islander(78) and got the Hunter 'used' (abused). Put about $15 k in it, lived aboard for 2 years, sold it for what we bought it for.

By then selling was just another day. Sure do miss the Islander...


Charles Kingsley Michaelson, III said...

Just this once: I kept a blog from some of our sailing days. If you're interested it's at C's Choice.


Charles Kingsley Michaelson, III said...

I apparently messed up the html beneath "C's Choice" Here's the old fashioned way:

This should take you to a menu page, the entries should be taken in this order: C's Choice, Showers, Solo, Current, and Trust Me.