About Me

Name: rycK
Biography
Loading...

Create Your Own Blog Find Other Townhall Blogs

Comments

Archives

Blog Roll

 

650,000 Strawdogs Bark at the Moon. The Obama ‘Recovery’ is a Numerical Monkey Circus

650,000 Strawdogs Bark at the Moon. The Obama ‘Recovery’ is a Numerical Monkey Circus

 

Abstract: Most of the people who work for our government must be imbeciles. Some of the imbeciles are now known as such and publicly identified  from their own words transcribed here for proof. They reach into the future to make calculations and sift through mountains of anecdotes and error-ridden reports for some numbers that will tell the citizens what they are doing with our money.   One of their chief stooges, using the future as a crutch, reports that the taxpayer cost per “new or saved” job is now $92,000. I am so relieved!

 

In a two previous blogs, just a day ago, I summarized the woeful mumblings and hokum-chucking follies that posed as ‘predictions’ from those lackeys who stooge for Obama.[1][2] I waited, for nothing—even past 4:00 PM , to view the creepy recovery.gov site to show me something other than a single number being changed and they did just that: one lousy number. This is so pitiful it is no wonder the stock market is crashing again. Touted as a success, as any leftist program always is, Joe Biden [Plugs[3] the Buffoon[4]] boasted to us of all the good jobs being created and we wonder how he knows. Well, some people are calculating a few costs:

 

Here is the ABC calculations:

 

Posting its results late this afternoon at Recovery.gov, the White House claimed 640,329 jobs have been created or saved because of the $159 billion in stimulus funds allocated as of Sept. 30.” [Emphasis is mine in all quotes.]

 

Brian Schmidt, director of planning and programming for the commission said that his staff originally reported to the Obama administration that the stimulus money saved 250 jobs. Then, realizing they had mistakenly double credited, they later changed that to 125 jobs. Tuesday, they updated it again to 74 jobs.

Ed DeSeve, senior advisor to the president for Recovery Act implementation, said he'd been "scrubbing" the job estimates so much since they came it at the beginning of the month that he now has "dishpan hands and my fingers are worn to the nub."[5]-- $160,000 Per Stimulus Job? White House Calls That 'Calculator Abuse' October 30, 2009 7:12 PM  

 

My calculator seems to show this folly: 640,329 jobs at a cost of $159 billion in stimulus funds works out to $248,309.85 per job. I did fail to add on the 30 years of interest on this money nor did I add in the costs from inflationary pressures that will debase our currency[6]. So, that won’t be so bad if our dollar becomes worth a nickel or so. We can save all the interest! As Paul Krugman sings” Yes, we have a long-run budget problem, and we need to start laying the groundwork for a long-run solution. But when it comes to inflation, the only thing we have to fear is inflation fear itself.”[7] [Emphasis is mine in all quotes]

 

Using a Biden-style system of convoluted and monkey putz logic we read that this is what they are doing:

 

White House officials heralded the unparalleled transparency in reporting job numbers to the public, but acknowledged there is no consistent standard across states or localities, or among federal agencies giving out stimulus funds, in differentiating between a “saved” job and a “created” job.”-- $160,000 Per Stimulus Job?

 

Some leftist number monkey popped up and unscrolled for us, probably from a dark place, a better number using this logic:

 

Jared Bernstein, chief economist and senior economic advisor to the vice president, called that "calculator abuse."

He said the cost per job was actually $92,000 -- but acknowledged that estimate is for the whole stimulus package as of the end of 2010.”-- $160,000 Per Stimulus Job?

How can you say ‘is” for the current ‘was’ and note that “was’ appears to be in the future tense? We don’t know how many real jobs will be created so how can we make this calculation? Does this depend, critically or mathematically, on the definition of what “was” is? So, this is a forecast assembled with rubber numbers and nobody told Biden? What political tense is this written in: “…White House claimed 640,329 jobs have been created or saved…” Do some of these people even have a G.E.D.?

We are going to get back to some kind of ‘recovery’ using borrowed or printed monies and spend $92,000 dollars per new job? Are we insane?

Our government is populated by imbeciles, throbbing stupids, zombies and racist parasites and other assorted cognitively disnimble beings that honk and wheeze at numbers like a monkey in a candy store while they try to fulfill their phony political predictions and the outrageous promises of our elected officials with phony numbers and absurd calculations not to mention  injecting time travel into the calculations. They swim in slime.

 

All lies? Looks like that. Where is the meat??

 

I told you so. rycK a 5th generation 49er in exile.

 

Comments: ryckki@gmail.com

 

 

 

Background on the last two posts:

 

Stimulus Act of Jan 2009

An Act: Making supplemental appropriations for job preservation and creation, infrastructure investment, energy efficiency and science, assistance to the unemployed, and State and local fiscal stabilization, for the fiscal year ending September 30, 2009, and for other purposes.”[8] [Emphasis is mine in all quotes.]

The Christine Romer Prophecy:

 

“…, even with the large prototypical package, the unemployment rate in 2010Q4 is predicted to be approximately 7.0%, which is well below the approximately 8.8% that would result in the absence of a plan.”

 

 Crystal Ball Follies

 

"None of us had a crystal ball back in December and January. I think almost every private forecaster realized that there were other things going on in the economy. It was worse than we anticipated. " [9]

 

Biden[10] also acknowledged the discrepancies in a July 5 interview with ABC's George Stephanopoulos.

 

"The truth is, we and everyone else misread the economy," Biden said. "The figures we worked off of in January were the consensus figures in most of the blue chip indexes out there. ... And so the truth is, there was a misreading of just how bad an economy we inherited. Now, that doesn't — I'm not laying — it's now our responsibility. So the second question becomes, did the economic package we put in place, including the Recovery Act, is it the right package given the circumstances we're in? And we believe it is the right package given the circumstances we're in."

 

Romer sandbags the Biden follies:

 

Most analysts predict that the fiscal stimulus will have its greatest impact on growth in the second and third quarters of 2009,” Romer said. “By mid-2010, fiscal stimulus will likely be contributing little to growth.”[11] Christine Romer Oct. 22

 

A few hours ago:

 

WASHINGTON — About 650,000 jobs have been saved or created under President Barack Obama's economic stimulus plan, the White House said Friday, saying it is on track to reach the president's goal of 3.5 million jobs by the end of next year[12]-- Gov't says stimulus saved or created 650,000 jobs By Matt Apuzzo And Brett J. Blackledge

 

Now, we learn all about how the administration calculates these 650,000.  We must put forth a few caveats on our beliefs and acceptance of the new ‘proofs’ that are bestowed upon us by Obama and his number doodlers. But, they have an ‘independent’ group to filter out the hooey or so they say:

 

The Recovery Accountability and Transparency Board is the independent group which oversees the tracking of all of the data in regard to spending from The American Recover and Reinvestment Act, aka the stimulus package. Their mission statement according to Recovery.gov is “To promote accountability by coordinating and conducting oversight of Recovery funds to prevent fraud, waste, and abuse and to foster transparency on Recovery spending by providing the public with accurate, user-friendly information.”[13]-- White House releases data on stimulus jobs; 1 million jobs created or saved

 

Here is their pitch:

 

“JOBS CREATED/SAVED AS REPORTED BY RECIPIENTS

640,329 10/30/2009”[14]

 

Then crap like this:

 

Z--PROJECT NUMBER 23679, Repair Building 4 Barrac...
This contract action was accomplished using other than competitive procedures because this is an or...
Z--PROJECT NUMBER JCT-08040, Upgrade to Lighting ...
This contract action was accomplished using other than competitive procedures because this is a tas...
R--PROJECT NUMBER P9302, ENERGY MODELING
This contract action was accomplished using other than competitive procedures because there is only...
C--RECOVERY--PROJECT 18660, Tuttle Creek Lake, KS...
RECOVERY--
PER FAR 5.7 THIS NOTICE IS PROVIDED FOR INFORMATION PURPOSES ONLY; THEREFORE FAR 5.203 DO...
Y--Recovery Act - Renovate Emergency Department
RECOVERY ACT - THIS NOTICE IS PROVIDED FOR INFORMATION PURPOSES ONLY. The
Philadelphia VA Medical ...
FFS Project #: R4GY; TAS::14 1610::TAS; TITLE: ...
No Description Provided
CONSTRUCTION MANAGEMENT OVERSIGHT AND SUPPORT SER...
No Description Found
Remove/Replace Asphalt Shingles at the Visitor Ce...
No Description Provided
Remove and Install Boundary Fence Scotts Bluff N...
No Description Provided
Low Energy Mobile Imaging System
No Description Found
Z--PROJECT NUMBER 39040, Upgrade Known Distance R...
This contract action was accomplished using other than competitive procedures because this is an or...
: The Department of Energy Savannah River Operat...
The purpose of this work activity is to provide support to the DOE-SR with expertise in the areas o...

 

Where is the count?

 

Look at this:

Here is what you should know:

Governors, mayors, county executives, private businesses and community organizations across the country submit reports to Recovery.gov so that you can get an unprecedented look at how your taxpayer dollars are being spent creating jobs and boosting the economy through the Recovery Act. These reports are not from the federal government – but from the very people putting Recovery funds to work.”

 

 “The government has overstated by thousands the number of jobs it has created or saved with federal contracts under the president’s $787 billion recovery program, according to an Associated Press review of data released in the program’s first progress report.”[15]-- http://thegovmonitor.com/world_news/united_states/white-house-reports-ap-misleads-on-recovery-act-job-reporting-13025.html

 

All lies? Looks like that. Where is the meat??

 

RycK



[1] Imaginary Numbers in the Starry Skies and the Quest for a Crystal Ball: Our Government Announces Job Creation Success with their Stimulus Program!

http://rycksrationalizations.blogtownhall.com/2009/10/30/imaginary_numbers_in_the_starry_skies_and_the_quest_for_a_crystal_ball_our_government_announces_job_creation_success_with_their_stimulus_program!.thtml

 

 

[3] This refers to Joe Bided and was heard one night on the Mark Levine show. This refers to the phony forest of spindly white hair s that glows in wispy cylinders in the light and was transplanted from elsewhere on Blowhard Joe’s body to the top of his head. He looked like a porcupine that had an unfortunate encounter with a bottle of peroxide and a low hanging bush.

 

[4] You got it.  It’s time to be patriotic, Kate.  Time to jump in, time to be part of the deal, time to help America out of the rut, and the way to do that is they’re still gonna pay less taxes than they did under Reagan."—Joe Biden, plagiarist and a person who cheated his way through Law School at Syracuse.  This link has Joe talking away on TV: http://www.youtube.com/watch?v=cX5nlKcTzvU&eurl=http://americansforprosperity.org/index.php?id=6409

 

Joe Biden is a loathsome character and permanent politico who has several emotional disorders, a person who got a neat home from some sweetheart deal with MBNA officials, a person who cheated his way through Syracuse Law School, a braggart and a blow hard.  “I am smarter than you” Joe Biden mangles history, explodes in a shower of anger and hatred at the mention of his political opposition and grows on the state of Delaware like some form of tumor. Biden’s son also has some kind of cushy job at about a million dollars at some MBNA affiliate or what not.

[5] $160,000 Per Stimulus Job? White House Calls That 'Calculator Abuse'October 30, 2009 7:12 PM  http://blogs.abcnews.com/politicalpunch/2009/10/160000-per-stimulus-job-white-house-calls-that-calculator-abuse.html

[6] Krugman Scares Us with His Big Inflation Scare Screed. We Will Rapidly Inflate and He Knows This.

http://rycksrationalizations.blogtownhall.com/2009/05/29/krugman_scares_us_with_his_big_inflation_scare_screed_we_will_rapidly_inflate_and_he_knows_this.thtml

 

Abstract: Krugman of the NYT selects narrow facts and assemble an article that denies that we are facing almost certain hyperinflation in the near future. He ignores the comments of the Chinese, Warren Buffett and the UK about the wild deficits and dangers of wanton printing of money and its deleterious effects on our currency and economic future. He places blame for our debts on previous tax cuts and cites trivial countries who have gone through high debt loads and not inflated. He omits any reference to the more famous cases that fell into this trap. Whatever the topic, Krugman always advises more spending and bigger government and today’s screed does not ruin his record on this. He sophomorically parrots FDR with: “the only thing we have to fear is inflation fear itself.” We are spending our way into serfdom and Krugman goes along with this outcome. He would rather see the US crash and the pieces reassembled by socialists or Marxists than watch prosperity again push down his allies into economic and financial obscurity. He blindly sanctions the wild spending of the Obama administration with no regrets.

 

[7] The Big Inflation Scare By PAUL KRUGMAN OP-ED COLUMNIST

Published: May 28, 2009 http://www.nytimes.com/2009/05/29/opinion/29krugman.html?_r=1

 

 

[9] Cantor and other Republicans say Obama promised stimulus would keep unemployment rates below 8 percent “Biden also acknowledged the discrepancies in a July 5 interview with ABC's George Stephanopoulos.

"The truth is, we and everyone else misread the economy," Biden said. "The figures we worked off of in January were the consensus figures in most of the blue chip indexes out there. ... And so the truth is, there was a misreading of just how bad an economy we inherited. Now, that doesn't — I'm not laying — it's now our responsibility. So the second question becomes, did the economic package we put in place, including the Recovery Act, is it the right package given the circumstances we're in? And we believe it is the right package given the circumstances we're in."

Biden also acknowledged the discrepancies in a July 5 interview with ABC's George Stephanopoulos.

"The truth is, we and everyone else misread the economy," Biden said. "The figures we worked off of in January were the consensus figures in most of the blue chip indexes out there. ... And so the truth is, there was a misreading of just how bad an economy we inherited. Now, that doesn't — I'm not laying — it's now our responsibility. So the second question becomes, did the economic package we put in place, including the Recovery Act, is it the right package given the circumstances we're in? And we believe it is the right package given the circumstances we're in."

 

http://www.politifact.com/truth-o-meter/statements/2009/jul/09/eric-cantor/Cantor-and-other-republicans-say-obama-promised-s/

[10] You got it.  It’s time to be patriotic, Kate.  Time to jump in, time to be part of the deal, time to help America out of the rut, and the way to do that is they’re still gonna pay less taxes than they did under Reagan."—Joe Biden, plagiarist and a person who cheated his way through Law School at Syracuse.  This link has Joe talking away on TV: http://www.youtube.com/watch?v=cX5nlKcTzvU&eurl=http://americansforprosperity.org/index.php?id=6409

 

Joe Biden is a loathsome character and permanent politico who has several emotional disorders, a person who got a neat home from some sweetheart deal with MBNA officials, a person who cheated his way through Syracuse Law School, a braggart and a blow hard.  “I am smarter than you” Joe Biden mangles history, explodes in a shower of anger and hatred at the mention of his political opposition and grows on the state of Delaware like some form of tumor. Biden’s son also has some kind of cushy job at about a million dollars at some MBNA affiliate or what not.

 

You got it.  It’s time to be patriotic, Kate.  Time to jump in, time to be part of the deal, time to help America out of the rut, and the way to do that is they’re still gonna pay less taxes than they did under Reagan."—Joe Biden, plagiarist and a person who cheated his way through Law School at Syracuse.  This link has Joe talking away on TV: http://www.youtube.com/watch?v=cX5nlKcTzvU&eurl=http://americansforprosperity.org/index.php?id=6409

 

Email ItEmail It | Print ItPrint It | CommentsComments (4) | TrackbacksTrackbacks (0) | Flag as offensiveFlag as Offensive

650,000 Strawdogs Bark at the Moon. The Obama ‘Recovery’ is an Hallucination

650,000 Strawdogs Bark at the Moon. The Obama ‘Recovery’ is an Hallucination

 

 

 In a previous blog, just a few hours ago, I summarized the woeful mumblings and hokum that posed as ‘predictions’ from those lackeys who stooge for Obama.[1]

 

Stimulus Act of Jan 2009

An Act: Making supplemental appropriations for job preservation and creation, infrastructure investment, energy efficiency and science, assistance to the unemployed, and State and local fiscal stabilization, for the fiscal year ending September 30, 2009, and for other purposes.”[2] [Emphasis is mine in all quotes.]

The Christine Romer Prophecy:

 

“…, even with the large prototypical package, the unemployment rate in 2010Q4 is predicted to be approximately 7.0%, which is well below the approximately 8.8% that would result in the absence of a plan.”

 

 Crystal Ball Follies

 

"None of us had a crystal ball back in December and January. I think almost every private forecaster realized that there were other things going on in the economy. It was worse than we anticipated. " [3]

 

Biden[4] also acknowledged the discrepancies in a July 5 interview with ABC's George Stephanopoulos.

 

"The truth is, we and everyone else misread the economy," Biden said. "The figures we worked off of in January were the consensus figures in most of the blue chip indexes out there. ... And so the truth is, there was a misreading of just how bad an economy we inherited. Now, that doesn't — I'm not laying — it's now our responsibility. So the second question becomes, did the economic package we put in place, including the Recovery Act, is it the right package given the circumstances we're in? And we believe it is the right package given the circumstances we're in."

 

Romer sandbags the Biden follies:

 

Most analysts predict that the fiscal stimulus will have its greatest impact on growth in the second and third quarters of 2009,” Romer said. “By mid-2010, fiscal stimulus will likely be contributing little to growth.”[5] Christine Romer Oct. 22

 

A few hours ago:

 

WASHINGTON — About 650,000 jobs have been saved or created under President Barack Obama's economic stimulus plan, the White House said Friday, saying it is on track to reach the president's goal of 3.5 million jobs by the end of next year[6]-- Gov't says stimulus saved or created 650,000 jobs By Matt Apuzzo And Brett J. Blackledge

 

Now, we learn all about how the administration calculates these 650,000.  We must put forth a few caveats on our beliefs and acceptance of the new ‘proofs’ that are bestowed upon us by Obama and his number doodlers. But, they have an ‘independent’ group to filter out the hooey or so they say:

 

The Recovery Accountability and Transparency Board is the independent group which oversees the tracking of all of the data in regard to spending from The American Recover and Reinvestment Act, aka the stimulus package. Their mission statement according to Recovery.gov is “To promote accountability by coordinating and conducting oversight of Recovery funds to prevent fraud, waste, and abuse and to foster transparency on Recovery spending by providing the public with accurate, user-friendly information.”[7]-- White House releases data on stimulus jobs; 1 million jobs created or saved

 

Here is their pitch:

 

“JOBS CREATED/SAVED AS REPORTED BY RECIPIENTS

640,329 10/30/2009”[8]

 

Then crap like this:

 

Z--PROJECT NUMBER 23679, Repair Building 4 Barrac...
This contract action was accomplished using other than competitive procedures because this is an or...
Z--PROJECT NUMBER JCT-08040, Upgrade to Lighting ...
This contract action was accomplished using other than competitive procedures because this is a tas...
R--PROJECT NUMBER P9302, ENERGY MODELING
This contract action was accomplished using other than competitive procedures because there is only...
C--RECOVERY--PROJECT 18660, Tuttle Creek Lake, KS...
RECOVERY--
PER FAR 5.7 THIS NOTICE IS PROVIDED FOR INFORMATION PURPOSES ONLY; THEREFORE FAR 5.203 DO...
Y--Recovery Act - Renovate Emergency Department
RECOVERY ACT - THIS NOTICE IS PROVIDED FOR INFORMATION PURPOSES ONLY. The
Philadelphia VA Medical ...
FFS Project #: R4GY; TAS::14 1610::TAS; TITLE: ...
No Description Provided
CONSTRUCTION MANAGEMENT OVERSIGHT AND SUPPORT SER...
No Description Found
Remove/Replace Asphalt Shingles at the Visitor Ce...
No Description Provided
Remove and Install Boundary Fence Scotts Bluff N...
No Description Provided
Low Energy Mobile Imaging System
No Description Found
Z--PROJECT NUMBER 39040, Upgrade Known Distance R...
This contract action was accomplished using other than competitive procedures because this is an or...
: The Department of Energy Savannah River Operat...
The purpose of this work activity is to provide support to the DOE-SR with expertise in the areas o...

 

Where is the count?

 

Look at this:

Here is what you should know:

Governors, mayors, county executives, private businesses and community organizations across the country submit reports to Recovery.gov so that you can get an unprecedented look at how your taxpayer dollars are being spent creating jobs and boosting the economy through the Recovery Act. These reports are not from the federal government – but from the very people putting Recovery funds to work.”

 

 “The government has overstated by thousands the number of jobs it has created or saved with federal contracts under the president’s $787 billion recovery program, according to an Associated Press review of data released in the program’s first progress report.”[9]-- http://thegovmonitor.com/world_news/united_states/white-house-reports-ap-misleads-on-recovery-act-job-reporting-13025.html

 

All lies? Looks like that. Where is the meat??

 

Ryc<b>K



[1] Imaginary Numbers in the Starry Skies and the Quest for a Crystal Ball: Our Government Announces Job Creation Success with their Stimulus Program!

http://rycksrationalizations.blogtownhall.com/2009/10/30/imaginary_numbers_in_the_starry_skies_and_the_quest_for_a_crystal_ball_our_government_announces_job_creation_success_with_their_stimulus_program!.thtml

 

 

[3] Cantor and other Republicans say Obama promised stimulus would keep unemployment rates below 8 percent “Biden also acknowledged the discrepancies in a July 5 interview with ABC's George Stephanopoulos.

"The truth is, we and everyone else misread the economy," Biden said. "The figures we worked off of in January were the consensus figures in most of the blue chip indexes out there. ... And so the truth is, there was a misreading of just how bad an economy we inherited. Now, that doesn't — I'm not laying — it's now our responsibility. So the second question becomes, did the economic package we put in place, including the Recovery Act, is it the right package given the circumstances we're in? And we believe it is the right package given the circumstances we're in."

Biden also acknowledged the discrepancies in a July 5 interview with ABC's George Stephanopoulos.

"The truth is, we and everyone else misread the economy," Biden said. "The figures we worked off of in January were the consensus figures in most of the blue chip indexes out there. ... And so the truth is, there was a misreading of just how bad an economy we inherited. Now, that doesn't — I'm not laying — it's now our responsibility. So the second question becomes, did the economic package we put in place, including the Recovery Act, is it the right package given the circumstances we're in? And we believe it is the right package given the circumstances we're in."

 

http://www.politifact.com/truth-o-meter/statements/2009/jul/09/eric-cantor/Cantor-and-other-republicans-say-obama-promised-s/

[4] You got it.  It’s time to be patriotic, Kate.  Time to jump in, time to be part of the deal, time to help America out of the rut, and the way to do that is they’re still gonna pay less taxes than they did under Reagan."—Joe Biden, plagiarist and a person who cheated his way through Law School at Syracuse.  This link has Joe talking away on TV: http://www.youtube.com/watch?v=cX5nlKcTzvU&eurl=http://americansforprosperity.org/index.php?id=6409

 

Joe Biden is a loathsome character and permanent politico who has several emotional disorders, a person who got a neat home from some sweetheart deal with MBNA officials, a person who cheated his way through Syracuse Law School, a braggart and a blow hard.  “I am smarter than you” Joe Biden mangles history, explodes in a shower of anger and hatred at the mention of his political opposition and grows on the state of Delaware like some form of tumor. Biden’s son also has some kind of cushy job at about a million dollars at some MBNA affiliate or what not.

 

You got it.  It’s time to be patriotic, Kate.  Time to jump in, time to be part of the deal, time to help America out of the rut, and the way to do that is they’re still gonna pay less taxes than they did under Reagan."—Joe Biden, plagiarist and a person who cheated his way through Law School at Syracuse.  This link has Joe talking away on TV: http://www.youtube.com/watch?v=cX5nlKcTzvU&eurl=http://americansforprosperity.org/index.php?id=6409

 

Email ItEmail It | Print ItPrint It | CommentsComments (0) | TrackbacksTrackbacks (0) | Flag as offensiveFlag as Offensive

Imaginary Numbers in the Starry Skies and the Quest for a Crystal Ball: Our Government Announces Job Creation Success with their Stimulus Program!

Imaginary Numbers in the Starry Skies and the Quest for a Crystal Ball: Our Government Announces Job Creation Success with their Stimulus Program!

 

Abstract: We have had a 787 billon dollar ‘stimulus’ package in Jan 2009 that had certain goals, one of which, was to reduce unemployment, and the outcome of this effort is  now questionable. The original ‘promise’ was that the unemployment would be 7% by the 4th quarter of 2010 and that without this stimulus it would be 8.8%. In July of this year Obama’s Council of Economic Advisers Chairperson Christina Romer then told us “…None of us had a crystal ball..” and from Joe Biden: “ … The truth is we and everyone else misread the economy…”  Then Romer told us on October 22 that “…fiscal stimulus will likely be contributing little to growth.” A small spike in the GDP, probably stemming from some phony clunker[1] and house stimuli[2], now prompts the Obama Administration to claim that they were responsible for 650,000 jobs. It is clear that these parasites in Washington have no crystal balls or other forms of cojones and act like drug-whacked losers. They only thing they can do are waffle, abuse the economy and claim the glory for anything that even resembles a positive effect on the economy. The unemployment will hit 10% soon so what will they do? Another stimulus? These communist freak-show buffoons now want to spend another 1 trillion dollars on healthcare? Where is the crystal ball that predicts that outcome? We are being bankrupted by idiots in Washington.

 

One of the most challenging tasks that confront the citizens of various countries is to force them selves to believe what their governments tell them about any and all matters. Firing squads and gulags have frequently been tenderly employed to facilitate the citizens in their beliefs. We are exposed to ‘promises,’ mostly made just before elections, to sooth and cajole the people to believe and endorse and select their candidates based on these promises. This is all accomplished with song and dance and glittery banners and kazoo honkings in various keys. How many of these promises are kept? Since the economy was the primary concern last election, we were offered a stimulus program with a cost of 787 billion dollars and now we hear that this will not have much effect on growth? What happened to the priming of the pump clichés so popular in past decades?

 

We were promised that our economy would be fixed and that it would improve and that unemployment, among other metrics, would be held below 8%.  Now, onto the facts:

 

We can conveniently monitor the promises by collating sound bites and announcements on government websites and from the comments and testimonies from government bureaucrats on television and radio and make lists. There is no way for a promise to escape attention under such documentation standards, but the fulfillment of such promises and the conditions imposed upon such promises corrupt the process and spreads fog and hokum over the results in many cases. Although the promises are sullied by caveats and the existence of new information that was not incorporated into the original forecasts we learn.  Thus, mumbling is still the best way to proffer false promises and guesses to the voters and we investigate that today as the government celebrates the creation or saving of 650,000 jobs.

 

Ancient History and the Promises: Here is the stimulus act of Jan 2009

An Act: Making supplemental appropriations for job preservation and creation, infrastructure investment, energy efficiency and science, assistance to the unemployed, and State and local fiscal stabilization, for the fiscal year ending September 30, 2009, and for other purposes.”[3] [Emphasis is mine in all quotes.]

This act, costing 787 billion dollars, was supposed to do what? Be for job preservation and creation?

 

Now, we hear that somebody promised to keep unemployment at 8 % or so and the rate has increased to nearly 10%. Who said this?

 

Here is what Christine Romer published:

 

First, the likely scale of employment loss is extremely large. The U.S. economy has already lost

nearly 2.6 million jobs since the business cycle peak in December 2007. In the absence of stimulus, the economy could lose another 3 to 4 million more. Thus, we are working to counter a potential total job loss of at least 5 million. As Figure 1 shows, even with the large prototypical package, the unemployment rate in 2010Q4 is predicted to be approximately 7.0%, which is well below the approximately 8.8% that would result in the absence of a plan.”

 

Okay, so we ‘projected’ some numbers with a mere trillion or so of our borrowed tax dollars but the caveats spill over the table as we read this:

 

Here's what Romer herself said in a July 2 interview on Fox: "None of us had a crystal ball back in December and January. I think almost every private forecaster realized that there were other things going on in the economy. It was worse than we anticipated. What the private forecasters are saying now is that they do anticipate that the economy will start growing again in the second half of the year, and that usually, then, employment and unemployment start to respond shortly after that. So I think that is a realistic expectation." [4]

 

Biden[5] also acknowledged the discrepancies in a July 5 interview with ABC's George Stephanopoulos.

 

"The truth is, we and everyone else misread the economy," Biden said. "The figures we worked off of in January were the consensus figures in most of the blue chip indexes out there. ... And so the truth is, there was a misreading of just how bad an economy we inherited. Now, that doesn't — I'm not laying — it's now our responsibility. So the second question becomes, did the economic package we put in place, including the Recovery Act, is it the right package given the circumstances we're in? And we believe it is the right package given the circumstances we're in."

 

Then Romer sandbags the Biden follies:

 

Most analysts predict that the fiscal stimulus will have its greatest impact on growth in the second and third quarters of 2009,” Romer said. “By mid-2010, fiscal stimulus will likely be contributing little to growth.”[6] Christine Romer Oct. 22

 

Today, we read:

 

WASHINGTON — About 650,000 jobs have been saved or created under President Barack Obama's economic stimulus plan, the White House said Friday, saying it is on track to reach the president's goal of 3.5 million jobs by the end of next year[7]-- Gov't says stimulus saved or created 650,000 jobs By Matt Apuzzo And Brett J. Blackledge – 18 minutes ago

 

So, they guessed and misguessed and spent some money and admitted it was not based on realty but now were on the right track and frantically search for a crystal ball and then admitted it won’t work and then they claimed victory for a small bump in GDP. That makes sense to some liberal we presume.

 

The sad facts here are that our government spends with no notion of how much this will change the economy and are impenitent when pressed for positive results. Their phony predictions are cloaked with caveats and more promises as excuses when they are show to be false. The politicians in charge are like tumors on a dog’s behind: they just cause perpetual and escalating physical and emotional agony and will eventually kill the host. The best guess was that unemployment might hit 8.8% in the absence of this massive spending program and now it is nearly 10%. Shall we guess again and spend another trillion dollars?

 

We have to let these people know at what level of regard we hold them.  They are both incompetent[8] and crooked. Stay tuned for more unemployment, debasement of our currency[9][10] and much more.[11]

 

rycK [a 5th generation Californian in exile]

 

Comments to: ryckki@gmail.com

 



[2] The Persistent Decline in Home Prices, Current Facts and Options for the Distressed and Some Warnings and Caution on New Bubbles http://rycksrationalizations.blogtownhall.com/2009/10/24/the_persistent_decline_in_home_prices,_current_facts_and_options_for_the_distressed_and_some_warnings_and_caution_on_new_bubbles.thtml

 

 

[4] Cantor and other Republicans say Obama promised stimulus would keep unemployment rates below 8 percent “Biden also acknowledged the discrepancies in a July 5 interview with ABC's George Stephanopoulos.

"The truth is, we and everyone else misread the economy," Biden said. "The figures we worked off of in January were the consensus figures in most of the blue chip indexes out there. ... And so the truth is, there was a misreading of just how bad an economy we inherited. Now, that doesn't — I'm not laying — it's now our responsibility. So the second question becomes, did the economic package we put in place, including the Recovery Act, is it the right package given the circumstances we're in? And we believe it is the right package given the circumstances we're in."

Biden also acknowledged the discrepancies in a July 5 interview with ABC's George Stephanopoulos.

"The truth is, we and everyone else misread the economy," Biden said. "The figures we worked off of in January were the consensus figures in most of the blue chip indexes out there. ... And so the truth is, there was a misreading of just how bad an economy we inherited. Now, that doesn't — I'm not laying — it's now our responsibility. So the second question becomes, did the economic package we put in place, including the Recovery Act, is it the right package given the circumstances we're in? And we believe it is the right package given the circumstances we're in."

 

http://www.politifact.com/truth-o-meter/statements/2009/jul/09/eric-cantor/Cantor-and-other-republicans-say-obama-promised-s/

[5] You got it.  It’s time to be patriotic, Kate.  Time to jump in, time to be part of the deal, time to help America out of the rut, and the way to do that is they’re still gonna pay less taxes than they did under Reagan."—Joe Biden, plagiarist and a person who cheated his way through Law School at Syracuse.  This link has Joe talking away on TV: http://www.youtube.com/watch?v=cX5nlKcTzvU&eurl=http://americansforprosperity.org/index.php?id=6409

 

Joe Biden is a loathsome character and permanent politico who has several emotional disorders, a person who got a neat home from some sweetheart deal with MBNA officials, a person who cheated his way through Syracuse Law School, a braggart and a blow hard.  “I am smarter than you” Joe Biden mangles history, explodes in a shower of anger and hatred at the mention of his political opposition and grows on the state of Delaware like some form of tumor. Biden’s son also has some kind of cushy job at about a million dollars at some MBNA affiliate or what not.

 

You got it.  It’s time to be patriotic, Kate.  Time to jump in, time to be part of the deal, time to help America out of the rut, and the way to do that is they’re still gonna pay less taxes than they did under Reagan."—Joe Biden, plagiarist and a person who cheated his way through Law School at Syracuse.  This link has Joe talking away on TV: http://www.youtube.com/watch?v=cX5nlKcTzvU&eurl=http://americansforprosperity.org/index.php?id=6409

 

[8] The Cubans Teach Us about Economics and Arithmetic. I hope Paul Krugman reads their Works. He needs some Elementary Instruction.

http://rycksrationalizations.blogtownhall.com/2009/10/15/the_cubans_teach_us_about_economics_and_arithmetic_i_hope_paul_krugman_reads_their_works_he_needs_some_elementary_instruction.thtml

 

Email ItEmail It | Print ItPrint It | CommentsComments (0) | TrackbacksTrackbacks (0) | Flag as offensiveFlag as Offensive

Belligerent Ignorance, Phony Economics and the Clunker Crusaders: Washington Wastes our Money Again.

Belligerent Ignorance, Phony Economics and the Clunker Crusaders: Washington Wastes our Money Again.

 

 We seem to have the left-liberals now fully in charge of government-meddled social programs and given their sorry record of the past we can only expect new failures unless they blunder into the chaos and make some frantic guess that turns out right for a change. Don’t bet on this.  With the market up today they might just claim this to be a Democratic victory.

The stimulus program [porkulus[1][2] or bardus sus munia[3]] is a joke in that it does nothing to create new jobs, provide financial and economic stability to the markets and, most importantly create new sources of capital so as to create new jobs. The job market continues to descend to ugly depths despite the honking of liberal kazoos, celebrations in the streets, Santeria séances in the White House and other follies and wispy songs about ‘shovel-ready’ projects. The shovel is more appropriately reserved for shoveling away the manure from the facts. The idiots in Washington have failed again.

A phony idea, but one that appeals to the mentally disnimble[4] and those with other mental problems, was to just subsidize purchases of homes and cars and that would ‘stimulate’ the market. This failed for obvious reasons. Fannie Mae and Freddie Mac are two examples of government meddling in the economy. They are both zombies and quite dead. Their rot, however, still requires periodic bailouts from the tax payers with borrowed or printed monies.

The current outrage is the Clunkers Calamity where our government went out to ‘stimulate’ car sales and spent $24,000 per car on an average car cost of about the same price as that number. [5][6][7] Extending this insanity to the housing problem we learn that “…the Brookings institute estimates that the $8,000 credit equates to a cost to the taxpayer of $43,000 per home.”[8] This is money wasted for political reasons. We must search for reasons why our government is so stupid and how they arrive at these ‘programs’ and what mentally tortuous paths they traverse as they concoct such wonders. And we do not think we have idiots in our government?

Our idiot government has shoveled trillions into our ‘economy,’ mostly to bloat our Fascist[9][10][11]-Marxist[12] and increase the bureaucracy with worthless hirelings. To think that their ‘stimulus’ has contributed to 3% of the increase in our GDP [0.03 x 14 trillion] is only 0.42 trillion and they have spent some 5 trillion in TARP, TALP, deficits, and other worthless programs.  If we have to print a few trillion dollars in paper every year to ‘stimulate’ the economy to the tune of only a half trillion then we are broke and lost.

The answer is very simple in leftist terms: our government wants to ‘spread around the wealth’ so everybody gets some ‘skin in the game.’ The ‘skin,’ or course, is debt that is NOT spread around among the most dedicated believers in the Obama Administration—it will be paid for by taxpayers or it will actually be ‘spread’ around in the ultimate tax: inflation. As such, political parasites like Nancy Pelosi [The Reptile[13][14] or frequently  known as  Spartacus [15] in honor of the Marxist heroine Rosa Luxemburg--the former chair of the Marxist Progressive Caucus[16]] and her squeaking little familiar Steny Hoyer[17], a probable long-term stooge of the old crooked Mafia D’Alessandro Political machine[18][19][20] of Baltimore who caged with The Reptile for some Senator Daniel Brewster, openly and belligerently spends money we don’t have while telling us that they are ‘transparent’ and doing things in the open. Steny dootifully[21] obeys his master. Their respective  financial futures depend on how much tax money they can spend on getting votes and a tacking up IOUs for later as Clinton taught us and as such Hoyer has to lie about “transparency[22]’ to the public so he can keep the doors shut and violate our freedoms and raid our treasury. He can not be successful if he tells the truth so he lies.  The Reptile then, keeping the public from this phantasm as long as possible, presents for us this blatant lie in this video:”Pelosi Denies Public Access To Public Space For Public Plan Announcement.[23] This new ‘bill’ is nearly 2000 pages long. [Emphasis is mine in all quotes.]

So, for even a middle-level stooge of the Marxist system, we can see that these parasites must shovel out as much cash to their victims and homies as they can before [1] next election and [2] the unemployment soars beyond reason, which it is going to do as the ‘stimulus’ is NOT creating new jobs. We can undo anything when we get back the House and halt spending on this crap, but that will take some time so the race is on.

So, we have to acknowledge that this Pelosi/Reid/Hoyer/Obama team is successfully trotting down the well-known pathways braved for us by Joe Stalin, Adolph Hitler and Fidel Castro and saluted by Barrack Obama and his advisor and mentor Jeremiah Wright. They will do anything necessary to muzzle the opposition and steal our money and future. Let’s give them at least a 98 on that score. It will be 100, or higher, when they can muzzle the press or the blogs and put most of us in jail for sedition or for any other convenient reason.

This is a mockery of the democratic process and justice and law, but that describes the liberals—does it not?

rycK [a 5th generation Californian in exile]

 

Comments to: ryckki@gmail.com



 

[2]Three months ago, Obama bragged that his stimulus had begun to create a "rush" to hire construction workers. Since then, the construction industry has lost over 120,000 jobs, and this month's report shows that trend accelerating at a season when construction should normally be hiring.” http://hotair.com/archives/2009/07/02/unemployment-creeps-up-to-95/

 

[3] stupid swine tributes

 

[4] This refers to the book entitled The Bell Curve[4][4][4] The Bell Curve: Intelligence and Class Structure in American Life (ISBN: 0029146739)

by Herrnstein, Richard J. and  Murray, Charles  Free Press of Glencoe , Inc, Old Tappan, New Jersey, U.S.A., 1994.

 

[5]NEW YORK (CNNMoney.com) -- A total of 690,000 new vehicles were sold under the Cash for Clunkers program last summer, but only 125,000 of those were vehicles that would not have been sold anyway, according to an analysis released Wednesday by the automotive Web site Edmunds.com.” http://money.cnn.com/2009/10/28/autos/clunkers_analysis/?postversion=2009102817

 

 

[8] Cash for Clunkers cost how much? By Peter Boockvar - October 28th, 2009, 3:32P “As the debate intensifies on whether and what form to extend the home buying tax credit, one argument against it is why give a credit to someone who planned on buying a home anyway. With 85% of 1st time home buyers who were eligible to collect the tax credit planning to buy a home anyway, the Brookings institute estimates that the $8,000 credit equates to a cost to the taxpayer of $43,000 per home. This is based on the belief that 85% of the almost 2mm buyers are getting free money. Edmonds.com today is estimating that the Cash for Clunkers program cost taxpayers $24,000 per vehicle sold. They estimate that 82% of sales would have happened anyway and thus the handout of up to $4,500 really only enticed 18% of the buyers of 690k vehicles sold under the program.” http://www.ritholtz.com/blog/2009/10/cash-for-clunkers-cost-how-much/

 

[13] Nancy Pelosi should go (but won't) By Yael T. Abouhalkah, Kansas City Star Editorial Page columnist http://voices.kansascity.com/node/2732

 

[14] Pelosi: The New Red Flag Rules of Spartacus.

Thursday, November 09, 2006 10:37 AM

[15] Pelosi: The New Red Flag Rules of Spartacus.

Thursday, November 09, 2006 10:37 AM

 

[16] http://en.wikipedia.org/wiki/Congressional_Progressive_Caucus#Ideology .

“An array of national progressive organizations will work to support the efforts of the caucus, including the Institute for Policy Studies, The Nation Magazine, Moveon.org, National Priorities Project, Jobs with Justice Campaign, Peace Action, Americans for Democratic Action, and Progressive Democrats of America. Also co-sponsoring the kickoff event were the NAACP, ACLU, Progressive Majority, League of United Latin American Citizens, Rainbow/Push Coalition, National Council of La Raza, Hip Hop Caucus, Human Rights Campaign, Association of Farmworker Opportunity Programs, and the National Hip Hop Political Convention. The CPC has long maintained cordial ties with the Democratic Socialists of America, which hosted its website during the 1990s.”

[21] This is a new word and is properly spelt.

Email ItEmail It | Print ItPrint It | CommentsComments (0) | TrackbacksTrackbacks (0) | Flag as offensiveFlag as Offensive

The Flight from Tax Maggotry and Other Leftist Diseases: NYC Crashes but Federal Funds are On the Way!

The Flight from Tax Maggotry and Other Leftist Diseases: NYC Crashes but Federal Funds are On the Way!

 

High taxes[1][2][3] and the government-sponsored social programs[4][5] that promote sloth, phony education projects, crime[6] and drug addiction seem to be the only solution to addressing the evils of our society. Rather than enforce the Rule of Law in an objective and impartial manner, now merely a euphemism for letting left-wing constituents merrily do their drugs and crimes and such, the Rule is applied only to those who are capitalists or that have committed crimes too heinous to hide from the public. The tax basis is adjusted accordingly so that the felons escape and the successful ‘pay their fair share’ for the mayhem and social diseases to the benefit of Democrats in city governments. What a great scheme.

 

But, there is a temporary tax revenue problem:

 

New Yorkers are fleeing the state and city in alarming numbers -- and costing a fortune in lost tax dollars, a new study shows.

 

More than 1.5 million state residents left for other parts of the United States from 2000 to 2008, according to the report from the Empire Center for New York State Policy. It was the biggest out-of-state migration in the country.

 

The vast majority of the migrants, 1.1 million, were former residents of New York City -- meaning one out of seven city taxpayers moved out.[7]--Tax refugees staging escape from New York By Andy Soltis Last Updated: 6:08 AM, October 27, 2009 [Emphasis is mine in all quotes.]

 

The philosophy is clear here: inner cities cannot cope with the burdens of crime, phony education[8] expenses, public housing and unemployment with normal taxation because they have no way to rehabilitate or reform their constituents. In fact, many of their constituents are ‘poverty imports[9]’ for the most part or self-styled welfare recipients who will not or cannot pay for their own upkeep and thus are essentially parasites upon the working classes who do pay excessive taxes. This is great politics!

 

This all works out very well in the political sense as major cities have overwhelming populations of persons who are wholly dependent upon their local liberal Democratic elected officials for money, food and drugs along with free housing and medical care and cast their votes accordingly. As a corollary, the city administration must look the other way on most crime and blame their problems on capitalism or others and beg for alms from the state government or the fed to keep the machine well greased.

 

Thus, the bigger cities are crime magnets and generate the bulk of the murders and other crimes in our nation. Not to ignore the political benefits of this situation, we can see that crime is a great benefit to the cities as it provides jobs for police, narcotics enforcement, and emergency room care.

 

For an investigational view of what the left offers many citizens in terms of business, education, crime and community we have only to study the top 10 cities in the US and inspect the crime statistics.[10] There is no question that liberals [and all are black left-liberals with the exception of NYC where Bloomberg is at risk now] are fully in charge in these places. They control the ‘education’ and politics of these cities. A review of those who takes drugs is also instructive. [11] Clearly, crime and drug ingestion are not exactly proper attributes for success in the halls of capitalism and employers are still, amazingly, allowed to screen job applicants for drugs. This is a missed opportunity for the far left: forcing business to employ 100% of their citizens by outlawing drug tests. But, now, in a progressive new vector, California wants to legalize pot in its frantic effort to grunt money from any source to pay for their warped progressive lifestyle. It is interesting to compare NYC, California and Washington DC to see who has the poorest educational system in the US. The same people who want to transform our society to be more egalitarian are the very  same people who have shaped the 10 worse cities in the US [9 counting Washington D. C.] in terms of debt, drug addiction, murder and taxes.

 

But, where, can we ask, is the political blunder here?

 

The average Manhattan taxpayer who left the state earned $93,264 a year. The average newcomer to Manhattan earned only $72,726. [Emphasis is mine in all quotes.]

 

That's a difference of $20,538, the highest for any county in the state. Staten Island was second, with a $20,066 difference.”

 

Why not just raise taxes?? Does NYC really need whites in office?[12]

 

Taxes will continue to soar in destitute cities like New York  as this is the ONLY mechanism available to the city fathers of places like this and mirror-image cities like San Francisco, Oakland, Chicago and Baltimore.  What is the penalty? If the city or state goes broke, then what happens? Will the left-liberals in office lose their jobs or will the drug rehabilitation shops close down? Will the welfare checks stop spurting out as a heartfelt payment for the votes?

 

The proper plan for liberals is to push taxes to unreasonable limits and force a catastrophe so that federal funds can be connected to their city coffers by some umbilical cord wired into the Fed balance sheet if possible. NYC is ‘too big to fail.’ Those who wantonly and egregiously flee from NYC’s taxes and crime may be confidently ‘caught’ and ‘repatriated’ to the yawning tax pits if federal funds are used to replace their tax returns in the cities.  Thus the big salaries and big business profits can be returned to the city fathers of New York City and all is well. Then, spending is the limit! Double welfare payments! Double salaries for unions, teachers, police and everybody else!

 

Obama is going to be their sugar daddy and they know it.

 

Raise taxes and we will all be rich as I learned all this from listening to my rain stick.[13] Or, maybe, just maybe, it is time for some undocumented capitalism[14].

 

rycK [a 5th generation Californian in exile]

 

Comments to: ryckki@gmail.com

 

 

 



[4] Our Economy is Collapsing. The Liberals will Now Institute Some Kind of Neo- Fascism or Socialism or Some New Blend to Maintain Power.

http://rycksrationalizations.blogtownhall.com/2009/08/06/our_economy_is_collapsing_the_liberals_will_now_institute_some_kind_of_neo-_fascism_or_socialism_or_some_new_blend_to_maintain_power.thtml

 

[6] The NYT Laments the Future of the Young with No Solutions Proffered. They Have  a Great Future in Crime.

http://rycksrationalizations.blogtownhall.com/2008/06/10/the_nyt_laments_the_future_of_the_young_with_no_solutions_proffered_they_have_a_great_future_in_crime.thtml

 

[7] Tax refugees staging escape from New York By Andy Soltis Last Updated: 6:08 AM, October 27, 2009 http://www.nypost.com/p/news/local/tax_refugees_staging_escape_from_qb4pItQ71UXIc0i6cd3UpK

[8] Pronounced ‘ejukashon.’ See The Collapse of the World Economy is at Hand.

http://rycksrationalizations.blogtownhall.com/2009/08/28/the_collapse_of_the_world_economy_is_at_hand.thtml

 

[9] Read illegal aliens or The Collapse of the World Economy is at Hand.

http://rycksrationalizations.blogtownhall.com/2009/08/28/the_collapse_of_the_world_economy_is_at_hand.thtml

asylum from other cities from apprehension.

[11] Admissions to Publicly Funded Substance Abuse Treatment Programs, 2006

Percentage
of Admissions 

Race/Ethnicity

Distribution by Race

Ratio: Admissions to Race

59.4

White

80

0.74

21.3

African-American

12.8

1.66

14.0

Hispanic Origin

7.0

2.00

2.3

American Indian or Alaska Native

 

Very high

1.0

Asian/Pacific Islander

 

 

2.0

Other

 

 

 

 

Ref : http://www.nida.nih.gov/InfoFacts/treatmenttrends.html

Ref on Distribution: http://www.infoplease.com/ipa/A0110384.html 2005 numbers There are later revisions on these numbers.[11] Note that more minorities by race are admitted to publicly funded substance abuse programs than whites on a proportionality basis. By race, twice as many blacks are admitted when compared to blacks.

 

Email ItEmail It | Print ItPrint It | CommentsComments (4) | TrackbacksTrackbacks (0) | Flag as offensiveFlag as Offensive

Anita Dances the Dunnciad as The Ghost of Goebbels Looks on with Approval from the Grave.

Anita Dances the Dunnciad as The Ghost of Goebbels Looks on with Approval from the Grave.

Anita Dunn, a political unknown but probably either an escapee from some commune or someone who whined loud enough about the glass ceilings that had previously  fortunately insulated us from such spectacles, has informed the world that: “Fox News was “a wing of the Republican Party,” adding “let’s not pretend they’re a news organization like CNN is.”[1]  [Emphasis is mine in all quotes.]

And, how would she know that? Is this a little recital piece?

Her credentials, as we find them, apparently stem for some early Carter works and then she joined some Democratic consulting firm known as Squier Knapp Dunn [her??]. Her clients have included House Speaker Nancy Pelosi and former Senate Democratic leader Tom Daschle.[footnote below.] Working for the loony leftists like Pelosi [The Reptile[2][3]] and Tom Daschle are more than enough to place her with purple robes and silver sandals in the top spot in the White House as the Grand Designator of True Journalism.  Let us pretend she is sane.

So, in her new shiny job as Reichpropagandafurher she works behind the scenes with this kind of people, all very objective and political neutral:

Eugene Robinson, E.J. Dionne, Ron Brownstein, John Dickerson, Rachel Maddow, Frank Rich, Jerry Seib, Maureen Dowd, Keith Olbermann, Bob Herbert, Gloria Borger, and Gwen Ifill.

Gee, no political bias here. Transparency in action. Let us pretend she is transparent.

One of her proclamations:

 The reality of it is that FOX News often operates almost as the research arm or the communications arm of the Republican Party."[4]-- Anita Dunn, White House Communications Director

We can wonder if there is any hint of any vetting process or even any casual loony bin detectors that might identify persons with foam on their lips or drool encrusted on their shoes that wander near the White House. But, as we have seen, beings like this, Van Jones and Plugs[5] the Buffoon[6] seem to ramble in and out of the East Wing in some kind of mental haze oblivious to precedence, history, manners or logic.

Of course she looks like a fool and is now fodder for political cannons who wish to squeeze out some mirth from her Marxist phantasms:

CNN just can’t abide people telling anyone the truth about how Obama’s cronies are either admitted Communists, like the disgraced Van Jones, or just think Commies are awesome, like Anita Dunn. Comrade Dunn is the White House Communication Director who gave what appeared to be a commencement speech wherein she clearly states that Mao Tse-tung is one of her political heroes. She goes on a long, serious discussion explaining exactly why Chairman Mao was so wise and how his wisdom could guide her audience in their future endeavors. We talked about this on the podcast yesterday. Here is the clip from Beck, with the video of Dunn.”[7]-— CNN’s hilariously lame defense of Mao-Loving White House Advisor Anita Dunn

The issue isn’t whether Lee Atwater ever quoted Mao. A simpleton knows you don’t adopt somebody’s philosophy as your own simply by quoting them. But when you quote them and then explicitly say the person is one of your biggest influences, then you make it your own. So Dunn’s lame attempt to source the quote back to Atwater and have that somehow serve as an explanation for what she said is patently ridiculous.”-- CNN’s hilariously lame defense

As Anita dances the Dunnciad[8][9] [likened to: ”The poem celebrates the goddess Dulness and the progress of her chosen agents as they bring decay, imbecility, and tastelessness to the kingdom of Great Britain.”] she seems to portray, in her own little way, the kind of ‘change’ and ‘transparency’ we have been accustomed to seeing from the White House to date.

Can she be for real? Did Newt Gingrich plant her in the WH like some think he did with Monica to perforate the entrails of the Obama Administration and let it all ooze out in front of the cameras?  We haven’t seen an unbridled Froot-Loop like this thing squirrel around the hallways let alone approach the microphone since the Clinton and Carter Eras, particularly like Jimmy’s wild praise for the Ayatollah Khomeini [who would bring stability to Iran] and now his loose cannon advisor Brzezinski [United States National Security Advisor to President Jimmy Carter] thinks the U.S. should attack Israel to save Iran![10] Maybe Anita thinks we should have a freshly baked SALT III treaty with Georgia Peanuts and give the codes for our nuclear weapons to Zimbabwe or other responsible group.

I suppose all this makes sense in some dope den surrounded by lotus fumes or in the ER rescue unit in some psychiatric ward but for many it just looks stupid. Let us pretend her job is temporary.

Perhaps this is what Affirmative Action and the Broken Glass Ceiling has brought us at great cost.

rycK

 

Comments: ryckki@gmail.com

 



 

[2] Nancy Pelosi should go (but won't) By Yael T. Abouhalkah, Kansas City Star Editorial Page columnist http://voices.kansascity.com/node/2732

 

[3] Pelosi: The New Red Flag Rules of Spartacus.

Thursday, November 09, 2006 10:37 AM

 

[5] This refers to Joe Bided and was heard one night on the Mark Levine show. This refers to the phony forest of spindly white hair s that glows in wispy cylinders in the light and was transplanted from elsewhere on Blowhard Joe’s body to the top of his head. He looked like a porcupine that had an unfortunate encounter with a bottle of peroxide and a low hanging bush.

 

[6] You got it.  It’s time to be patriotic, Kate.  Time to jump in, time to be part of the deal, time to help America out of the rut, and the way to do that is they’re still gonna pay less taxes than they did under Reagan."—Joe Biden, plagiarist and a person who cheated his way through Law School at Syracuse.  This link has Joe talking away on TV: http://www.youtube.com/watch?v=cX5nlKcTzvU&eurl=http://americansforprosperity.org/index.php?id=6409

 

Joe Biden is a loathsome character and permanent politico who has several emotional disorders, a person who got a neat home from some sweetheart deal with MBNA officials, a person who cheated his way through Syracuse Law School, a braggart and a blow hard.  “I am smarter than you” Joe Biden mangles history, explodes in a shower of anger and hatred at the mention of his political opposition and grows on the state of Delaware like some form of tumor. Biden’s son also has some kind of cushy job at about a million dollars at some MBNA affiliate or what not.

 

[7] CNN’s hilariously lame defense of Mao-Loving White House Advisor Anita Dunnhttp://trueslant.com/williamdupray/2009/10/17/cnns-hilariously-lame-defense-of-mao-loving-white-house-advisor-anita-dunn/

 

[8] Takeoff on Dunciad with an extra “n” for nut job.

 

[9] The Dunciad, a landmark literary satire by Alexander Pope http://en.wikipedia.org/wiki/Dunciad

Email ItEmail It | Print ItPrint It | CommentsComments (3) | TrackbacksTrackbacks (0) | Flag as offensiveFlag as Offensive

The Crusade to Lower Carbon Emissions at any Cost and the Political Rejection of Fiscal Rationale

The Crusade to Lower Carbon Emissions at any Cost and the Political Rejection of Fiscal Rationale


Revised 10.27.09

Correction: After a phone discussion with Dr. Howard Horne of Stonegates at 9:52 AM on Oct 27, 2009, I was informed that my numbers, derived from the reporter Adam Zewe in his article were incorrect.  The request, on my part to Dr. Horne, was that I be supplied with the truthful numbers by his organization so that I could correct the record.  I was informed that any numbers discussed in my telephone conversation with Horne were confidential and I respect that. No new numbers or calculations are introduced into this blog. The originals remain. I offered to accept the correct numbers and restructure my calculations and this was rejected. This is now an essay in circular logic such that the numbers—hence the calculations on actual costs--are now unknown but resides in the newspaper’s record in the public view.

The facts are thus hidden from view even though the newspaper reported that this project was subsidized by both state and federal monies. This is apparently now the kind of ‘transparency’ that we live under in the Obama Administration.

As such, there is no way to assess the facts and my calculations are summarily retracted in this particular case. However, the view that solar systems are efficient enough to ‘save’ people money is still bogus. There is no way to ‘save money’ by producing electricity without government subsidies because the current costs of such systems outweigh any financial benefit. But, maybe there are special circumstances that might permit some installations to make substantial savings that either bend the laws of physics or draw from the tax base. Who knows? I was just commenting on the news. But, being from a scientific background I wonder if this kind of project can be cost effective and here are alternative views on this matter:

Here are some expert opinions:

“ScienceDaily (Feb. 22, 2008) — Despite increasing popular support for solar photovoltaic panels in the United States, their costs far outweigh the benefits, according to a new analysis by Severin Borenstein, a professor at the University of California, Berkeley's Haas School of Business and director of the UC Energy Institute.”[1]-- Cloudy Outlook For Solar Panels: Costs Substantially Eclipse Benefits, Study Shows

"Solar photovoltaic (PV) is a very exciting technology, but the current technology is not economic," said Borenstein. "We are throwing money away by installing the current solar PV technology, which is a loser."

 

“In his January working paper, "The Market Value and Cost of Solar Photovoltaic Electricity Product," Borenstein also found that, even after considering that the panels reduce greenhouse gases, their costs still far outweigh their social benefits.”

 

“The bottom line, Borenstein argues in his paper, is that solar PV panels are not ready for widespread installation. Rather than subsidizing residential solar PV installations, as many states do, he favors more state and federal funding for research and development.”

"We need a major scientific breakthrough, and we won't get it by putting panels up on houses," he said in a recent interview on campus. "It is going to come in the labs."-- Cloudy Outlook For Solar Panels .”[2]  [Emphasis is mine in all quotes.]

One more: A current cost analysis for private homes:

 

At the time of this writing, the installed cost of solar panels runs between $7 to $9 per watt, so a 5 kW system would cost on the order of $35,000-$45,000 and an 8 kW system would be anywhere from $56,000 to $72,000.  Many utility companies are offering incentives with some subsidizing as much as 50% of the cost of the system.  Even so, a system that generates an average of $73 of electricity per month would take a long time to pay for itself even if you could get it at half cost.  For example, a system that cost $18,000 would have a payback period on the order of 20 years.  The panel cost today is around $4 per watt and the extra cost that brings it up to $7 to $9 installed is to cover the installation labor and the electronics needed to tie it into your existing electrical system.”[3]-- How much does it cost to install solar on an average US house?

 

I went to Home Depot 2-3 years ago to price such a system for my home. The ‘average’ cost for a house my size was $14,000 installed which would save me about $500 per year on electricity according to the salesperson. This, obviously, would require a 28 year payback plus extra years if financed and is complicated by the fact that such systems couldn’t last more than 30 years so this system is a financial disaster.

 

The numbers are bleak and mystical. There is no way that solar panels can produce electricity at any reasonable cost and those who advocate such systems are either in the sales end of the business or want to make profits off energy ‘credits’ such as Al gore. I must agree with Professor Borenstein in that solar panels are not cost effective.

Here is the original blog analysis now retracted for lack of the proper information.

The Crusade to Lower Carbon Emissions at any Cost and the Political Rejection of Fiscal Rationale

Abstract: It appears that a solar panel scam has just consummated in a retirement home in a glitzy area of Delaware. The numbers shown in a newspaper article and the projected savings expected do not appear to be yielding anything positive for the residents barring the use of imaginary numbers and chucking in a little fairy tale logic.  Apparently, the good citizens thought they would save $19,000 per year on their electricity and now it looks like they will pay twice that in extra costs for that ‘saving.’ I am sure this makes sense to some green activist but I admit I missed the savings. I need help in this analysis.

The frantic crusade to quell the levels of carbon dioxide[4], now considered as nasty a pollutant as DDT, mercury or capitalism tempts persons with perhaps ordinary cognitive skills to buy into phantasms. I think this is fraudulent and a rip-off but the numbers need to be confirmed. The author of this piece was e-mailed for amplification but no reply as yet. I will update this blog if and when I get a reply from the author Adam Zewe. Here is an example from an upscale retirement home Stonegates[5] in Greenville, DE. It has 200 residents according to the website below in the footnote and just spent a great deal of money on a solar panel system that promises to save them money.

The Greenville retirement community recently installed the First State’s largest private solar panel system atop four buildings, said Ken Hilback, director of plant services.”-- Stonegates installs First State’s largest solar system By Adam Zewe Community News Posted Oct 26, 2009 @ 08:02 Adam.zewe@communitypub.com

 

The panels are expected to produce 14,000 kilowatt hours of electricity a month, reducing Stonegates’ carbon footprint by 200 metric tons and saving the community $19,000 a year, Hilback said. [Emphasis is mine in all quotes.]

The entire system cost $970,000, he said, but grants from the state paid for 25 percent and federal grants covered an additional 30 percent.”-- Stonegates installs First

Now, we might ask, if we were concerned about the financial features of this project, just who is saving how much from this project. Ignoring, for the moment, the federal and state grants we find:

 

My trip to a mortgage calculator on the Internet[6] indicates that for a $533,500 loan [the total less the grants] at 5% the 360 payments would be exactly $2,968.62 per month. This works out to $35,623.44 per year and the residents think they are to save $19,000 per year? Actually, this appears to cancel their expected savings and add an additional $19,000 to their costs.  Each of the 200 occupants would pay $178.12 per month, on average, just for the solar panels.

 

If we insert the government ‘grants’ and other fluff we can wonder how much of the remaining $436,500 has been borrowed or printed by the federal and state government. They are both broke.

 

I must be confused here so could somebody clarify some of this?

 

rycK [a 5th generation Californian in exile]

 

Comments to: ryckki@gmail.com

 



[1] Cloudy Outlook For Solar Panels: Costs Substantially Eclipse Benefits, Study Showshttp://www.google.com/search?hl=en&safe=off&num=100&newwindow=1&q=costs+and+efficiency+of+solar+power&btnG=Search&aq=f&oq=&aqi=

 

[3] How much does it cost to install solar on an average US house?  http://solarpowerauthority.com/how-much-does-it-cost-to-install-solar-on-an-average-us-house/

 

[4] More Americans Doubt Global Warming and Other Forms of EcoNazism

http://rycksrationalizations.blogtownhall.com/2009/08/10/more_americans_doubt_global_warming_and_other_forms_of_econazism.thtml

 

Krugman Explains EcoNazism in the Warmest Terms. Tax Tax Tax

http://ryckzrantz.blogtownhall.com/2009/05/01/krugman_explains_econazism_in_the_warmest_terms_tax_tax_tax.thtml

 

Friedman Bawls about Balls and Can Show Nothing. EcoNazism and Propaganda at Work.

http://rycksrationalizations.blogtownhall.com/2009/04/08/friedman_bawls_about_balls_and_can_show_nothing_econazism_and_propaganda_at_work.thtml

 

The EcoNazis are Frantic for your Money!

http://rycksrationalizations.blogtownhall.com/2008/12/16/the_econazis_are_frantic_for_your_money!.thtml

 

A Translation of the Bailout Plan for Detroit: Bigger Government, Bigger Unions and Cars Designed by EcoNazis http://rycksrationalizations.blogtownhall.com/2008/11/16/a_translation_of_the_bailout_plan_for_detroit_bigger_government,_bigger_unions_and_cars_designed_by_econazis.thtml

 

Crime is Not a Crime Now if You are an EcoNazi or Leftist Parasite and Act out of Fear.

http://rycksrationalizations.blogtownhall.com/2008/09/13/crime_is_not_a_crime_now_if_you_are_an_econazi_or_leftist_parasite_and_act_out_of_fear.thtml

 

Flop Ears the EcoNazi Prophet of Doom Raises the Spectre of Disaster from GM Food Production

http://rycksrationalizations.blogtownhall.com/2008/08/14/flop_ears_the_econazi_prophet_of_doom_raises_the_spectre_of_disaster_from_gm_food_production.thtml

 

The EcoNazis and Reality: Klaus Offers to Debate Al Gore.

http://rycksrationalizations.blogtownhall.com/2008/05/29/the_econazis_and_reality_klaus_offers_to_debate_al_gore.thtml

 

300 Years of British Inbreeding Brings us Flop Ears the EcoNazi Prophet of Doom

http://rycksrationalizations.blogtownhall.com/2008/05/19/300_years_of_british_inbreeding_brings_us_flop_ears_the_econazi_prophet_of_doom.thtml

 

Reason and Faith Assault the Phony EcoNazis and Their Lackeys.

Wednesday, December 12, 2007 1:52 PM

http://rycksrationalizations.blogtownhall.com/2007/12/12/reason_and_faith_assault_the_phony_econazis_and_their_lackeys.thtml

 

[6] http://www.bankrate.com/calculators/mortgages/mortgage-calculator.aspx

                Mortgage

 

prin                      533500

time                      360

rate                       5%

payments            2968.62

 

Email ItEmail It | Print ItPrint It | CommentsComments (6) | TrackbacksTrackbacks (0) | Flag as offensiveFlag as Offensive

The Persistent Decline in Home Prices, Current Facts and Options for the Distressed and Some Warnings and Caution on New Bubbles

The Persistent Decline in Home Prices, Current Facts and Options for the Distressed and Some Warnings and Caution on New Bubbles

Today, I incorporate in my blog a contribution from a reader who has extensive expertise in mortgages and forecasting. Robert Schorell has contributed this piece for publication on this blog and my comments are intercalated in blue for contrast. He supplies us with sound financial advice and warns us of the improper use of credit to avoid another housing bubble. The economic problem, as I see it, as do others, is that the deflationary debt spiral[1][2] is not even yet reaching a minimum [asymptote] on the downward-sloping curve and that our government might even be exacerbating the problem[3] by synthesizing false credit for political reasons. If the government acts improperly, they might just force another housing bubble.

The article:

Title:  Continually Falling Home Prices

Home prices have yet to hit bottom, despite a growing belief among some financial analysts that the housing market was beginning to stabilize.

In fact, some sobering figures are starting to chip away at the once-optimistic projections regarding recovery and return. Some experts worry that another wave of bust and market collapse is on the horizon.

This is a major worry and one that we must avoid. The deflationary debt spiral we are fighting was caused by wealth being lost in real estate prices and the concomitant collapse of credit derived from equity loans and related factors. The abridged inability to borrow is difficult enough for many Americans but when the spiral starts to cut away jobs to the extent that mortgages cannot be maintained then spending is reduced and the GDP falls. This creates a nasty cycle. --rycK

Forecasters at financial firm Fiserv[4] expect home prices to fall 11.3 percent by next summer. In some parts of the country, like Florida and California, prices are expected to fall upward of 30 percent by next June. In all, Fiserv experts predict that all but 39 of the nation’s 381 housing markets will experience falling home values.

This can only lead to more unemployment. This also hampers the recovery and pushes us further into deflation, a topic that is unpopular to think about even though, in my view, it is happening. The proof for this bold statement is the zero government interest rates, bank bailouts with federal balance sheet monies and massive government spending.

Compounding the situation is a dangerous return to the same lax lending standards that helped create the subprime collapse. Foreclosures are surging nationwide, and there’s a rapidly growing glut of homes in default nationwide that are likely headed for foreclosure.

I must agree 100% with this comment. I blame, in part, the government nostrum of ‘affordable housing’ as delineated in the CRA [Community Reinvestment Act][5][6] that mandated that banks must loan money to the credit unworthy, deadbeats, criminals and illegal aliens and that Fannie Mae was the final resting place for the  worse examples of the resultant bad mortgage debt and toxic securitized asset bundles. Since the problem is world wide and was observed in Japan 20 years ago [and still is], and in Europe, this is just an icon for the improper use of credit. We cannot repeat this.

 

Let us be very clear here: Those toxic assets [to be fixed by TARP!?] are still in our banks and other financial institutions and they grow more toxic—not less—and we risk adding to this mess if we grant loans that will again end in default and foreclosure. According to analyst Ambrose Evans-Prichard of the Telegraph (London) subprime mortgages are becoming even more toxic as time passes with even the AAA mortgages of 2007 are falling to 28 cents on the dollar and AA at only 4 cents.[7] No wonder several big banks are essentially zombie banks.

 

We are in big trouble if our government tries to buy votes with printed mortgage monies.

About 8 percent of FHA loans were either delinquent or in foreclosure at the end of June up from about 5 percent in 2006, according to the Mortgage Bankers Association. The agency’s loan loss reserves are on the brink of falling below mandated levels. [Click here for some information on FHA loans: http://fha.mortgageloanplace.com/FHA-Guide.html]

Government loans continue to grab market share, with almost two-thirds of new homes now the product of government-insured loans, according to a recent survey by a California real estate firm. But many of these loans feature low down payments and higher debt-to-income ratios[8] than most.

We have had government FHA type loans for decades and they did not independently encourage a bubble so, in principle, they are still an excellent place to get housing funding. The difficulty and major threat is that our ‘government’ will try to replace the absent fraction of our GDP by taxing or borrowing money and just giving it to citizens [or not] as a wealth transfer to spend. All this accomplishes is two fold if the recipients of these political gifts are not creditworthy: [1] more national debt, currently at 12 trillions and [2] a false demand stimulus to housing prices driven by the economic demand function.

Some buyers with spotty credit are qualifying for loans that require half their net income to go toward their mortgage payment.

This is dangerous as the 50% level is too high to maintain a satisfactory living standard for those in the $30,000 to 60,000 income bracket. They would be ‘house poor.’ What is risked here is a mass disaffection with the very high relative cost of housing and the propensity to sell or default.  ANY mortgage scheme that even approximates the disasters of zero-down or subprime rates WILL launch another bubble and we cannot afford that.

I think we just have to get back to the mandatory 10% down on all mortgages and that will [1] filter out the dead beats and [2] give home owners some equity to work with.  This works even though housing prices continue to fall but we have no other choice.

The net result is a recipe for continued disaster. Another housing bubble looms on the horizon. And this one might prove more destructive than the last.

By Robert Schorell [robert@fharesearchcenter.com]

We have some serious problems here, many of which are government instigated, and we need to journey back to a stable economy, a somewhat balanced budget, spending reductions and paying off some of our massive 12 trillion dollar debt. If we do not, we will certainly crash in a blizzard of inflation and swarms of worthless dollars blowing in the streets and major social unrest.

rycK

Comments to: ryckki@gmail.com



[5]Bear Stearns made the first public securitization of Community Reinvestment Act (CRA) loans started in 1997.[6] Editorialists in some American newspapers[7][8] and US Congressman Ron Paul[9] say the CRA loans were lent to otherwise un-credit-worthy consumers in the name of ending discrimination, although an analysis of actual lending patterns does not generally support this conclusion.[10][11][12]

On June 22, 2007, Bear Stearns pledged a collateralized loan of up to $3.2 billion to "bail out" one of its funds, the Bear Stearns High-Grade Structured Credit Fund, while negotiating with other banks to loan money against collateral to another fund, the Bear Stearns High-Grade Structured Credit Enhanced Leveraged Fund.[13] The funds were invested in thinly traded collateralized debt obligations (CDOs) found to be worth less than their mark-to-market value. Merrill Lynch seized $850 million worth of the underlying collateral but only was able to auction $100 million of them. The incident sparked concern of contagion as Bear Stearns might be forced to liquidate its CDOs, prompting a mark-down of similar assets in other portfolios.[14][15] Richard A. Marin, a senior executive at Bear Stearns Asset Management responsible for the two hedge funds, was replaced on June 29 by Jeffrey B. Lane, a former Vice Chairman of rival investment bank, Lehman Brothers.[16]

During the week of July 16, 2007, Bear Stearns disclosed that the two subprime hedge funds had lost nearly all of their value amid a rapid decline in the market for subprime mortgages.

 

[6] http://en.wikipedia.org/wiki/Community_Reinvestment_Act

Community Reinvestment Act (or CRA, Pub.L. 95-128, title VIII, 91 Stat. 1147, 12 U.S.C. § 2901 et seq.)

 

[7] As of last week, the ABX index of sub-prime mortgage debt showed that AAA-rated securities from early 2007 were trading at 28 cents on the dollar – AA was at 4 cents, near all-time lows. No one can say that $2 trillion (£1.2 trillion) of sub-prime and Alt-A debt is still trading at panic levels, exaggerating losses. The dust has settled. What we can see is that creditors will never recoup their money.”--Lehman is a footnote in the great East-West globalisation crisis 12 Sep 2009 http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/6179033/Lehman-is-a-footnote-in-the-great-East-West-globalisation-crisis.html

 

Email ItEmail It | Print ItPrint It | CommentsComments (2) | TrackbacksTrackbacks (0) | Flag as offensiveFlag as Offensive

As the Head-Banger Gains Experience and Knowledge from the Pain California Seeks to Bury itself in Dope and Debt

As the Head-Banger Gains Experience and Knowledge from the Pain California Seeks to Bury itself in Dope and Debt.

 

There is no hope for the less-than-Golden State now as it  dives headlong with glittering tinsel and honking kazoos into the deepest financial latrines. The head bangers are in control. The sickening chronicle of the far left, now aided and abetted by drugs, sorties into hilarious Marxian economics and what few brain cells not currently being cooked in the hot sun in the marijuana fields, expands into something resembling the demise of Frankenstein at first light. The rot is now everywhere.

 

It seems that after only 10 weeks passed the duly elected Assembly and their wonderful governor ‘agreed’ on a ‘path forward’ to ‘compromise on the budget.[1]California[2]descends into oblivion.[3] No amount of warning or even the dire, debilitating threat of calamitous reason has slowed the pace of these drug-whacked loony balloons to pop. They need money. Here they were going to ‘cut’ 15 bln in spending while they stare into the marijuana fumes and publicly spirit away a few shekels away from the bankrupt cities and then  ‘borrow’ the rest along with some accounting sleight of hand. Let us postpone the debt. This was the ‘compromise.’ Of course only a California Democrat or an imbecile might believe in these deliriums, but it was ‘passed’ and then fell apart from the internal rot. Who would have known such a grand plan was a preconditioned joke?

 

Oh, gee, revenues are down! Who would have guessed that fewer people can now even profitably employ workers in some business other than sex workers or massage parlors and make a profit in that gulag?

 

The blame is now placed on the innocent:

 

The culprit here appears to be estimated quarterly personal income tax statements,” H.D. Palmer, the governor’s budget spokesman, said yesterday. “The numbers are cause for concern, but the issue now for us is to determine if this is a one-time event or whether it has more long-term implications.”-- California Budget Is Already in the Red 10 Weeks After Passage  By William Selway and Michael B. Marois [Emphasis is mine in all quotes.]

 

Translated for normal persons, this means that they do not know what they are doing when they ‘forecast’ budgets and financial matters. For the far left, keep banging your head on the wall and some of this will crystallize for you.

 

Here is an example of their clever accounting:

 

California, a state that’s been among the hardest hit by the recession, had already issued $22 billion of debt since March, including $8.8 billion of notes that provided the state with an advance on taxes collected next year.”-- California Budget

 

Oh! Let’s just borrow from the future and grunt some cash from the ailing cities and make the forecasts glow like some Hollywood Success Story and all will be well. They have a plan. Where was the revenue from the 30% taxes on marijuana? Why can’t the whole state run financially by only taxing pot, Asian massage parlors and steam baths in San Francisco?

 

I have been covering this outrage for a while [4][5][6][7][8][9][10][11][12][13][14][15][16][17][18][19][20] and my conclusion was, originally, that there was never—ever—any h0pe for this place.  I think things are getting worse if that is possible.

 

And, of course, they plant to borrow more money!!!

If the market is inhospitable, we won’t go,” Lockyer said in an interview yesterday. “We’ll just have to wait and see how the feelings are when we get ready to think about it again.” —California Budget

The ultimate head banger’s conclusion--insanity and despair. A much needed translation is offered here: We MUST barrow and hope that the suckers lend us chum monies at low rates even though our credit rating is approaching that of Zimbabwe.  A corollary to this is that ‘we will pay anything any time to anybody for some more money.’ Or, would you like a joint or a snort or maybe some quality time in the next alley?

This is all so much frantic and Vaseline-scented Bay Area Semi-Think claptrap as everybody knows that CA’s bond rating is at the bottom of the 50 states and revenues are shrinking--so how do you pay back your creditors? Why, you borrow to pay the borrowers to pay the borrowers and so on and so forth!  That is like saying that no matter how ugly the rats, panhandlers and cops will become in North Beach we can always find fresh food and acceptable shelter in the bottom of the dumpsters if we can figger out the removal schedules and there are no garbage strikes.

What they want are [your] federal funds. This is known as being progressive. This is parasitism.

Get ready to subsidize these drug-whacked loons. Bang your head a few times and share the vision—then get your wallet or purse or poke.

rycK [a 5th generation Californian in exile]

 

Comments to: ryckki@gmail.com

 



[3] California Budget Is Already in the Red 10 Weeks After Passage  By William Selway and Michael B. Marois http://www.bloomberg.com/apps/news?pid=20601087&sid=ahpLpu9sKLyY

Email ItEmail It | Print ItPrint It | CommentsComments (4) | TrackbacksTrackbacks (0) | Flag as offensiveFlag as Offensive

Is it Time for Some Undocumented Capitalism Yet? Lots of ‘Persons’ Practice that in the US Now with Favors from Our Government.

Is it Time for Some Undocumented Capitalism Yet? Lots of ‘Persons’ Practice that in the US Now with Favors from Our Government.

 

Governments prostrate themselves and dive into crime and worse when their survival depends on culturing and supporting degeneracy, crime and sloth.  All their wonderful promises and speechifying tend to evaporate when they realize they might lose power. California is the latest example. The ‘glorious’ October Revolution in Russia  produced only chaos and a frantic search for a stable food supply and seemed to fail to association of  splendor and glory with  the rule of the proletariat; cheap thugs ran the government. The kulaks[1], frequently wealthy but not of the aristocracy and closely identified with the bourgeoisie[or more accurately petite bourgeoisie[2] in this case],  were summarily murdered when they refused to just give their land, food and animals to the Bolsheviks so Lenin was forced to conjure some plan to placate these ‘peasants’ and produced his New Economic Policy (NEP).[3] They were depicted as ruffians with silk top hats in the 1919 Bolshevik posters[4] plastered everywhere in public. This failed movement, of course, as most far leftist plans do, and when food was scarce capitalism flourished in the very faces of the Marxists when peasants were encouraged to sell their food and wares openly in the market place thus defeating the very principle of socialism. Liberals tend to try to perform a similar trick with ‘education’…ejukashon’?? We eventually witnessed how the USSR system of a command economy failed to produce even one quarter of the food necessary and those who would ‘manage’ the economy and pick the correct time to dig potatoes finally just ignored the kiosks that were providing most of the food.  Lenin would rather have shot these people, but needed the food and other products. Duranty Papers[5] would have sanctioned their holocaust as a necessary step to advance socialism ["…liquidated or melted in the hot fire of exile and labor into the proletarian mass]. Such poetic flair! Maureen Dowd should study this example.

 

In our country Poncho the Parasite has a cozy arrangement with the liberal whereby he can enter the country illegally, work where he wants, supply false Social Security numbers to employers (who are looking the other way any way) and then just not submit state and federal tax returns because that would cause an interferences at the federal and state levels anyway. But, registering to vote in states where ID checking is as passé as virginity, Poncho can make money tax free by working or hustling drugs and send back as much as he wants without interference from our federal government.

 

But, our government is stuck at this time as they cannot exactly raise taxes on the working stooges who believe in their hokum and fluff so we just print money and tax whomever at the highest rates possible. This doesn’t work well in either the long or short terms for several reasons:

 

[1] Higher taxes increase business costs and results in lower tax revenues.

 

[2] Government rules and regulations do the same thing and discourage job creation by small businesses.

 

[3] Big businesses have more flexibility and if they are ‘too big to fail’ then they can ask for a bailout with some consideration stuffed into the pockets of the politicians. 

 

So, the squeeze is on and what is left are those who can run efficient business operations and keep people employed and pay their inordinate share of taxes to support the habits of the politicians and their clients. That group is not responding well to the Obama Fascism we hear all about on CBS and other in-the-tank state news services.

 

One of the reasons proffered to not go after Poncho and his jolly friends is that it would cost too much to deport 10-20 million souls and they are needed to scrub the toilets and pick berries anyway. Their obvious crimes are thus ignored and we can then wonder what the equal protection clause[6] actually means.  What happened to the Rule of Law? The 14th Amendment has limitations so we might look at the enumerated commerce clause [7] listed directly but vaguely in the United States Constitution (Article 1, Section 8, and Clause 3). These two angles let the federal government sneak around the 9th and 10th Amendments that would give states the basis to decide to accept [or not] all unnumerated laws not reserved to the federal government. All this is complicated but the words ‘regulation’ and ‘commerce’ have been so distorted that several opportunities in the law exist for both the left and right to continue to blowtorch the Constitution.

 

One then wonders if some others  are borrowing some of the tactics of the California marijuana growers and wantonly  flouting the narcotics laws and avoiding taxes but serving the politicians all at the same time with dope and gifts. These Mary Jane types successfully beat the federal law in Mexifornia, [8] and now make big profits even thought they are supposed to be non profit and such baloney and operate in cooperatives and, we might suspect, be subject to taxation and extensive record keeping. There eventually comes an encounter with a knife-edge decision where the risk of being sent to jail for some ‘crime’ is balanced by the risk of losing your possessions and career because of confiscatory taxes of the income, fee and inheritance classes—particularly old white folks.[9]  What we might expect would be a growing trend where professionals would trade their respective services in a barter system devoid of paper and 1099 forms.  We have seen recently that USB [Swiss Bank] has yielded only about 4500 names and account numbers to the IRS of those felons would hide tax-avoidance monies and make good profits with no tax burdens.  Can I offer a bet that no Democrat member of Congress is on that list? Out of a country of 310 million it seems that this number is inordinately small although it only covers a bank in the original Dirty Money Country and avoids such places as Luxemburg and the Cayman Islands and a few other spots. And, if California wants to tax pot at 30% to save their budget and credit ratings we can wonder why former criminals who are adept in evading such fates might want to pay such a high tax and just break a few more laws as California may have to furlough many of their drug enforcement yoyos anyway. The feds are busy hunting down white terrorists anyway.

 

It is not clear how much of a problem this is now or what it might be in the near future but when unemployment is high and rising and the number of people who might be forced to practice some ‘undocumented capitalism’ might ascend to several million while our jails are already stuffed to the rafters with violent criminals now so where would be put all these errant entrepreneurs? Or what do the federal and state tax collectors do if people refuse to pay their fines? Seize their property and bank accounts? What if they refused like Gandhi?

 

An oppressive and tax hungry government might compel a societal change in the average citizen’s behaviour in this country and force people to conduct commerce underground like they did in the USSR for 74 years until that wreckage rotted away in a blizzard of worthless rubles. Then, like magic, the economy flourished and a thousand new millionaires were created in Moscow alone all financed with US 100 dollar bills. Their mattresses must have bulged as dollars were illegal in the good old USSR.  Are some of our more clever entrepreneurs hiding gold bullion in safe places? If our currency crashed who would have liquid assets? Certainly not  the bank account holders in frozen or defunct banks.

 

What would our government do if modern ‘peasants’ just refused to ship their food and produce to the cities and set up kiosks along the highways? Tear them down? Burn the crops? What if the food supply was scarce? Seize farms and let government officials perform honest work in the fields to produce milk and lettuce and corn for the city crowd?

 

Big government is a big failure on this planet so we wonder just how far the average citizen can be pushed before he or she becomes interested in ‘undocumented capitalism’ because the illegal aliens seem to be making this work very well and are the darlings of the far left and they are certainly not being deported in great numbers and are not fined and are not rotting in jails for 5 years. The current leftist treatment of the Rule of Law is a joke.

 

If our economy crashes we may get instant answers to many of these questions. Our society will scarcely tolerate the notion that the government should own everything and just give orders like they did in the old USSR.  Only half of us are that stupid.

 

rycK

 

Comments: ryckki@gmail.com

 

 



[4] The Bolshevik Poster  by White, Stephen Yale Univ Press, New Haven & London, 1988. Softcover., color plates and other illustrations.  (ISBN: 0300048696) 159pp.

 

[5] In honor of that celebrated Communist stooge and liar and winner of the Pulitzer Prize for the NYT. The color RED is used in my essays in honor of Walter Duranty, a saint, if there could be one, in the Marxist Archives of Honor.

 

He said that these people had to be "liquidated or melted in the hot fire of exile and labor into the proletarian mass". Duranty claimed that the Siberian labor camps were a means of giving individuals a chance to rejoin Soviet society but also said that for those who could not accept the system, "the final fate of such enemies is death."Duranty, though describing the system as cruel, says he has "no brief for or against it, nor any purpose save to try to tell the truth". He ends the article with the claim that the brutal collectivization campaign which led to the famine was motivated by the "hope or promise of a subsequent raising up" of Asian-minded masses in the Soviet Union which only history could judge.” http://en.wikipedia.org/wiki/Walter_Duranty

 

Email ItEmail It | Print ItPrint It | CommentsComments (2) | TrackbacksTrackbacks (0) | Flag as offensiveFlag as Offensive

A. Goebbels Dunn and Finger Bang Rhamba [The Ballerina] Lead the Ministry of Propaganda for Obama.

A. Goebbels Dunn and Finger Bang Rhamba [The Ballerina] Lead the Ministry of Propaganda for Obama.

 

Every political organization requires that its members be given proper instruction in the particular set of political beliefs that materialize the foundation of the political goals of that party. It is necessary to herd the mindless into compartments and to corral the restless in political parties particularly if certain members stray from the narrow party line and unwittingly commit political violence to the movement. As such, history has give us a wide array of  propaganda chiefs and hallowed soothsayers to peruse for ideas and personality comparisons that have stood in the Forum or one some potato crate and successfully preached the hallowed lines of their party preambles. Their job is the keep the cage doors shut. The Obama Administration is struggling with this mandate even now.

 

Hitler probably had the most talented propaganda minister of all time as he was pure and precise when he dealt with party matters and that was Doctor Paul Joseph Goebbels. Others were star-struck advocates of Soviet Propaganda such as the French novelist and devoted Communist Henri Barbusse.[1] But, only when the media was fully launched on television did dedicated propagandists like Noam Chomsky, Walter Cronkite and Dan Rather[2] excel and gather their deserved acclaim from the drooling left. Modern day apologists such as Paul Krugman[3], Frank Rich[4], Cornel West, the late Susan Sontag, Noam Chomsky[5] and others with lesser wit and even fewer cognitive skill points translate the lust and hatred for entrepreneurial power and financial success into convenient social ‘equality’ elements that propose crude excuses to grab power and exclude capitalists wherever possible. All they have is the tax money of honest citizens. Chomsky, like Walter Duranty[6], tried to apologize for the Khmer Rouge massacres of probably a million Cambodians with mindless hokum that still inspired the far left even when it was devoid of substance. There exists a expansive and noisy carnival of apologists who are willing to place Obama’s image in halls of greatness despite any notable successes other than winning a phony Noble Prize for ‘Peace.’[7]

 

Anita Dunn, the bizarre White House Communications Director, gives us a performance[8] that approaches but does not match that of Dr. Goebbels.[9] She has a touching but rambling oratory style probably derived from a confluence of some mediocre cognitive norms, a little attention deficit disorder and some defective genes from some inbreeding, but she can grapple in public with the rudimentary essentials of her self-directed and scripted beliefs. However, she cannot serve president Obama with the apposite image of a revered Reichsminister of Propaganda because she mumbles and apes the persona of a buffoon in public. She would be better matched with Joe Biden[10] [Plugs the Buffoon[11]] in some official governmental capacity such as the Czar of the Ministry of Hilarious Historical Redactions as they have much in common. They could be CoBozos[12] in concert. Biden, whose buffoonery is established in the record beyond any serious doubt, gives us a certain throttle setting for facts in a humorous but non threatening manner. He truly is as dumb as a box of rocks. She clumsily chucks out the party message in a disjointed way (estruso in piccole goccioline[13]) such as this example where she is apparently coupling political and religions personages in some kind of conundrum like this:

 

The third lesson, and tip actually come from two of my favorite political philosophers: Mao Tse Tung and Mother Theresa. Not often coupled with each other!”

 

We don’t couple gasoline margaritas with pumpkin pie very often either. Nobody remembers her first two lessons after this moment. This must be some new form of communications.

 

With comments like: “You fight your war and I’ll fight mine” we can wonder if she is a ‘player’ in the narrowly-defined left-liberal[14]-Neo Marxist[15]-Ideological Racist[16]-Fascist[17] game or just a loose canon. How about if somebody said: “I’ll pay my taxes and you pay yours?” or “I am coming over to roost your chickens?” Some of us can communicate too.

 

But, when paired with Rahm Emanuel Barack Obama's self-styled and swashbuckling Chief of Staff[18] ["(Republicans) can go f--- themselves!"[19]] we can envisage a dynamic duo that could actually structure a proper Kristallnacht for their political enemies. Like Goebbels, Rahm has suffered through a torturous career punctuated with numerous misadventures that may have already culminated with his famous mediaeval joust with a defiant meat slicer at Arby’s[20]where he deftly sawed off part of his bird finger[21]and then loitered defiantly in some pond until the rest of it rotted off. He advanced to bigger games when he mailed a dead fish[22] to political enemy with a  Hollywood flair probably derived from the Luca Brasi episode[23] in the God Father  and became known as Dead Fish Immanuel ever after.[24] Rahm carries the typical genetic protosimian lack of remorse and jungle-level judgment necessary to lead an effort to best the earlier Kristallnacht performance at Fox News if his remaining fingers hold out.

 

But, we cannot treat president Obama too critically given the salient observation that he has to work with what he has and that is not much in intellectual terms after some considered respect granted to George Bush and his Idiot Father. His staff looks much like they just staggered out of various drug rehabilitation facilities and accidentally converged at some esteemed Democratic Party think tank meeting and were instantly acclaimed as prophets and sages for with weight and force of the spittle spray associated with their incoherent babble. More fitting for Obama’s future success would be if they were required to wear funny hats and honk kazoos before turning corners in the White House. They could also spend a lot of time involved in EcoNazism[25][26] by enforcing the Sheryl Crow Rules for single sheets of toilet paper in the West Wing.[27] Those efforts would reduce the carbon footprint of the White House and save the oceans from boiling.

 

We remain astonished at the gaping void of intellect and prowess in the Obama Administration and wonder what this will turn into. With massive problems in our society and financial networks it is difficult, at least for me, to wonder how A. Goebbels Dunn can be an asset to ‘communications’ anywhere in North America let alone the White  House. But, stranger people have haunted the White House for periods of time. I am sure they will become stranger with time. It could have been worse: Obama could have culled them all from California.[28]

 

rycK

 

Comments: ryckki@gmail.com

 



[1] Barbusse characterized the birth of Soviet Russia as "the greatest and most beautiful phenomenon in world history." http://en.wikipedia.org/wiki/Henri_Barbusse

 

[3] Paul Krugman Mumbles about Misguided Monetary Mentalities and Offers Other Hokums about our Currency

http://rycksrationalizations.blogtownhall.com/2009/10/12/paul_krugman_mumbles_about_misguided_monetary_mentalities_and_offers_other_hokums_about_our_currency.thtml

 

[5] “Much of the criticism of Chomsky revolves around his political views and he describes himself as a libertarian socialist, a sympathizer of anarcho-syndicalism. His status as a key intellectual figure within the left wing of American politics has resulted in a great deal of criticism from all across the political spectrum and has led to a number of notable controversies.” http://en.wikipedia.org/wiki/Criticism_of_Noam_Chomsky

 

[6] In honor of that celebrated Communist stooge and liar and winner of the Pulitzer Prize for the NYT. The color RED is used in my essays in honor of Walter Duranty, a saint, if there could be one, in the Marxist Archives of Honor.

 

[6] The Wrong Stuff  By MAUREEN DOWD Op-Ed Columnist Published: July 2, 2008. http://www.nytimes.com/2008/07/02/opinion/02dowd.html?_r=1&hp&oref=slogin.

 

[12] New world. Novel capitalization.

 

[13]extruded in little droplets”

 

[20] “He studied ballet in high school and was offered a scholarship to the Joffrey Ballet, but went to Sarah Lawrence College instead, where he earned a bachelor's degree. He has a master's degree in speech from Northwestern University. As a teenager, he severed his right middle finger slicing meat at Arby's and went swimming in Lake Michigan before getting stitches. After the wound became severely infected, Emanuel had the top of his finger amputated and spent six weeks recovering. http://www.time.com/time/politics/article/0,8599,1856965,00.html

 

 

[26] Reprinted from a previous blog: The Dollar Sags in Full View of the World This Invites a Run on the Dollar. Inflation Threatens US.

http://rycksrationalizations.blogtownhall.com/2009/09/25/the_dollar_sags_in_full_view_of_the_world_this_invites_a_run_on_the_dollar_inflation_threatens_us.thtml

Email ItEmail It | Print ItPrint It | CommentsComments (7) | TrackbacksTrackbacks (0) | Flag as offensiveFlag as Offensive

The Semi-Turbanized Surrender Monkey Grovels in Obsequience and Dances on our Enemy’s Drums

The Semi-Turbanized Surrender Monkey Grovels in Obsequience and Dances on our Enemy’s Drums

 

The approval rating of our current White House occupant has dropped below 49% as the good citizens match his promises with his performance and subtract endorsement points as the economy sickens and more jobs are lost. 49% approve while 45% disapprove of his conduct. [1]His spurious Nobel Peace Prize[2] has not boosted his stature as everybody knows that this was a sloppy and embarrassing political gesture proffered in the Marxian manner of Olof Palme[3] and duly consecrated by the Stooges of Norway, supplicants to dirty gun deals, Marxism and now Islam.  He is a lightweight and now uses White House influence to peddle his leftist themes to his wanton and tax-hungry constituents. It seems that the NEA is ‘redefined’ from its questionable origin in “art” now as some form of “service.”[4] Apparently we are to celebrate the ‘art’ of people like Andres Serrano and Robert Mapplethorpe along with the more progressive Karen Finley.[5]

 

These efforts are disgusting to the unenlightened but, still, they seem to lend some much needed ambience to the image of the leftist-dominated Party of Democrats as they can readily identify with bull whips, jars of yellow liquids and animated scenes featuring smeared chocolate sauce on hot palpating bodies, visions that must refresh our concepts of what life in Chicago and New Orleans must be like. After all, they have the vote too and sorely need public assistance.  Speculating on predictions for the future displays of ‘culture’ from the White House, we might recall Michelle’s inaugural dress with its broad black background and two bright red blotches on the front. Perhaps this is a ritualistic or ethnic costume and might be a public advertisement of the significance of Santeria.[6] What could really considered  immoral about snorting crack in the Map Room anyway or renting hot sheets by the quarter hour in the Lincoln Bedroom as Slick Willie had done for fun and profit. We need to be more accepting of the current and blossoming third world influences in our White House that is turning toward a shade of burnt umber and might even fade to black in the eyes of the cynics. I am being slowly converted. But, this is all so very progressive and our revulsion of some of the liberal’s antics and obscene gestures merely publicly showcase our intolerance for diversity and accentuates the need to spend more and more tax monies on the reeducation of the Neanderthal conservative masses and my case in particular. With enough drugs, degeneracy can become desire and desire can turn into votes and votes can turn into entitlements. California[7] [I am a 5th generation!] can show us the way to social nirvana and splendor if they can raises taxes high enough.

 

As the White House official turban tilts toward the Middle East in awe, our hero now wants to conjure some more j0bs for the good citizens. He may be quoted as saying that “…his administration is going to keep going until every single American in this country who's looking for work is going to be able to get the kind of well-paying job that supports their families."[8] Well, maybe not nuclear families. Why not just employ everybody in the government? We can use more bull whip blessors and wandering mariachi-like freak shows that celebrate certain acts [acts improperly frowned upon by the right wingers] to round out our society and provide some much needed ethnic and cultural balance as long as we don’t display the American flag or ring church bells.  I think we need to be educated by being exposed to persons like the new and trendy French leather-clad glamazons.[9] Allowing the drug crowd and the Santeria priests to administer national health care with their special talents and tender concern for humanity might just bring in huge tax revenues from the old white folk who cling bitterly to their 401(k)s. What need has a progressive society for the old stogy bigots anyway? Social Security needs immediate funding and a 100% inheritance tax and some opportune health care rationing would refresh this noble socialist maw at least for a while and we can simply justify this tax as reparations.[10]

 

As for our ‘relations’ in Iraq and Afghanistan there is no reason why we can’t just surrender and dump half our military onto the growing unemployment rolls and spend those nasty militaristic dollars on the ‘poor’ and make Code Pink and the Islamo-Fascists happy and content with our reformed new stance.  Obama has shown us the way to peace and fairness so far and we can expect more redistribution of wealth in our society to redress the sins of the past. There is no limit to how much money he can print[11] as we have ample forests. We can all be rich! To be more friendly with our neighbors there is no reason for a border between the US and Mexico and think of all the fun we can have dancing in the streets and sitting on bales of marijuana and celebrating Cinco De Mayo with fashionable drug dealers and other NEA celebrities! We can designate the 5th of each month as Obama Day and party until the rehab facilities and mattresses can take no more and probe the splendors of the California life style.

 

I want Obama to surrender to our enemies and print more money and build another Great Society. I want Obama to convert my 401(k) into an instrument of peace and humanity so I can go home[12]in peace.

 

I am going to rush out and buy a turban. My favorite color is orange also.

 

rycK

 

Comments: ryckki@gmail.com



[3] http://en.wikipedia.org/wiki/Olof_Palme#Policies

[12] Soylent Green is a 1973 dystopian science fiction movie depicting a future in which the greenhouse gas effect results in severe damage to the environment. This leads to widespread unemployment and poverty. Real fruit, vegetables, and meat are rare, commodities are expensive, and much of the population survives on processed food rations, including "soylent green" wafersUnable to live with what he has uncovered, In the movie Roth opts for euthanasia (euphemistically known as "going home") at a government clinic.

http://en.wikipedia.org/wiki/Soylent_Green

 

Email ItEmail It | Print ItPrint It | CommentsComments (2) | TrackbacksTrackbacks (0) | Flag as offensiveFlag as Offensive

The Cubans Teach Us about Economics and Arithmetic. I hope Paul Krugman reads their Works. He needs some Elementary Instruction.

The Cubans Teach Us about Economics and Arithmetic. I hope Paul Krugman reads their Works. He needs some Elementary Instruction.

 

The world is stuffed with bloated bureaucrats and obnoxious patzers that broadcast their ignorance on many unfamiliar topics at hand with sound and fury and the tossing of bright tinsel to the applause of the media and convince many good citizens to become losers.  The ‘experts’ shuffle and dance and have offered ‘advice’ and solemn counsel to millions as they go broke, run out of food and die in hopeless wars since they followed the wrong paths.

 

The US has had several baloney peddlers and drunks who nearly pushed the economy into the latrines like FDR, Peanut Jimmy Carter and LBJ and lately George Bush with the aid of Nancy Pelosi. Somehow FDR managed to get us entangled in a massive war on several fronts in spite of our Neutrality Act and we were later able to grow out of massive debt equal to one year’s GDP—a process unpredicted by our so-called economists of the times. We still can view the economic rot and residual infection from the Marxist-Leninist Follies in the USSR that trashed their society and inflated their ruble some 1500 fold although they were revered by many in our country for their expertise in government and finance. Is Obama really an Afro-Leninist, an ideological racist[1][2], a consummate liar[3] and a Marxian advocate or stooge[4]? He acts like one. He might become our new Hoover.

 

Politics, not exactly the preferred profession to conduct business or operate nations, shifts like a rotting pumpkin from time to time in various odd shapes and provides us with a model to predict political outcomes especially where economics is concerned. The  economic choices for many nations are now confined to  some mystic duality where some ‘leaders’ think we can spend our selves into prosperity [California[5], the US and the UK] while others are more practical and have even studied economics and finance and have great economies with low debt to GDP rations.  The US and the UK along with some sorry sisters like Ireland, Spain and Greece seem to be looking forward to enjoying and celebrating a depression.

 

Some Brits are particularly stubborn about the idea of bankrupting their economy with furious spending:

 

Brussels said UK public debt will rise from around 60pc of GDP this year to 160pc by 2020, 406pc by 2040, and 760pc by 2060 unless there are drastic spending cuts.[6]-- Treasury slams EU report warning Britain faces debt spiral By Ambrose Evans-Pritchard Published 14 Oct 2009 [Emphasis is mine in all quotes.]

 

Other Brits welcome a financial holocaust.

 

The Third World has a desperate need of cash, inter alia, and the UN wants to tax the world starting at about 1% of the GDP of each nation. They are the most radical, racist and incompetent organization on the planet and cannot be trusted with a dime. The Cap and Trade Tax would add costs to everything in the US and would allow China and India to escape such a burden because they refuse to adhere to this nonsense.[7] The UK is committing economic hara-kiri [seppuku] with their carbon emissions follies led and abetted by their inbred and gibbering Princeling of Wails [8] who now embraces advanced EcoNazism.[9][10]

 

Imagine this. What kind of reasoning can we find that allows a nation to print money and produce prosperity? What kind of reasoning can we explain that allows a nation to wantonly take on phony taxes that will make them noncompetitively in world commerce? Apparently, the detailed histories of the economies of Germany in the 20s, Argentina and Brazile a few decades later and now Zimbabwe, where everybody is a billionaire, have been erased from the economics texts or the memories of certain politicians. Of course, we are following Gordon Brown down the Brown Path to Oblivion as well since are printing money as quickly as we can to [1] cure the TARP issue and [2] to pay for social programs we cannot afford. Our currency is sinking like a rock in a lily pond with bubbles and froth and gold prices, as we expect they should, are soaring.

 

Proponents of this madness are ‘experts’ in the field and have impressive Nobel Prizes to show off their acumen in financial matters.  Here we have a new Peace Prize winner[11] fighting two major wars and running out of money and troops and an Economics Peace Prize winner advocating the splendor of debasing our currency. That is a ‘good’ idea we read from Paul Krugman.[12]  The Chinese, experts on inflation from way back, seem take exception to our shrinking dollar and complain about this phony fluff:

 

Little Timmy Lies:

 

"We have the deepest and most liquid markets for risk-free assets in the world. We're committed to bring our fiscal deficits down over time to a sustainable level.

 

"We believe in a strong dollar ... and we're going to make sure that we repair and reform the financial system so that we sustain confidence," he said.”[13]-- Geithner tells China its dollar assets are safe On Monday June 1, 2009

 

There is an impolite and undiplomatic name for this kind of hustle frequently heard on the streets of San Francisco and Amsterdam and earlier in Saigon in the 60s.  Many of us see an economic crash on the near horizon and have shouted such predictions from the roof tops with no effect. [14][15][16]

 

But, suddenly, like a flash of light from the swamps, we are stunned by a rational argument and some sorely needed instruction in arithmetic from an unlikely source:

 

"Nobody, no individual nor country, can indefinitely spend more than she or he earns. Two plus two always adds up to four, never five," he said. "Within the conditions of our imperfect socialism, due to our own shortcomings, two plus two often adds up to three."[17]Cuban President Raúl Castro

 

This seems to ring in key and harmony with some comments by Warren Buffett:

 

“Every country that has denominated its debt in its own currency and has found itself with uncomfortable amounts of debt relative to the rest of the world, in the end they inflate,” Buffett explains. That becomes a tax on everybody that has fixed dollar investments.”[18]--Buffett Sees Massive Inflation to Handle Staggering Debt. Monday, May 4, 2009 By Dan Weil [Emphasis is mine in all quotes]

 

But, this nonsense is refuted out of hand by Paul Krugman:

 

The truth is that the falling dollar is good news. For one thing, it’s mainly the result of rising confidence [??? ed]: the dollar rose at the height of the financial crisis as panicked investors sought safe haven in America, and it’s falling again now that the fear is subsiding. And a lower dollar is good for U.S. exporters, helping us make the transition away from huge trade deficits to a more sustainable international position.[19]-- Misguided Monetary Mentalities By Paul Krugman

 

Isn’t this strange? War is Peace; Poverty is Prosperity.

 

We wonder if the peace-loving Swedes have reclaimed their basis of reasoning and, with fewer suicides[20] and fewer syphilis cases[21], might want to consider Castro’s brother for the Nobel Prize in Economics.  Raul seems to know a few things about prosperity and failed socialism that have escaped the Swedes and their victims.  The Swedes must have forgotten how to count as now many more men than women are reported have the Disease of Venus.  This is not possible! Or, there may be another explanation.

 

It is clear that the economic world has been tossed on its ear and that those who are enlightened are shifting from Marxism and socialism into capitalism and visa versa. It is also clear that many of our elected officials have no clues how to maintain an orderly currency or budget.  If we must direct the attention of our financial gurus to the island of Cuba for elementary instruction in arithmetic and economics this is going to be a long, dismal decade in hyperinflation and serfdom.

 

Maybe Congress can get the Noble Prize for showing that in our economic case 2 +2 =2 and best the Cubans.

 

rycK

 

Comments: ryckki@gmail.com

 



 

[1] Racism and the “Out of Context Excuse” from the White House.  Lies Compounded with More Lies—the Old Democrat Way.

http://rycksrationalizations.blogtownhall.com/2009/08/04/racism_and_the_%e2%80%9cout_of_context_excuse%e2%80%9d_from_the_white_house__lies_compounded_with_more_lies%e2%80%94the_old_democrat_way.thtml

 

[6] Treasury slams EU report warning Britain faces debt spiral. The Treasury has lashed out at the European Commission in highly charged language after it suggested that Britain risks a debt compound spiral that could push public borrowing to levels never seen in a modern democracy. By Ambrose Evans-Pritchard Published 14 Oct 2009 [Emphasis is mine in all quotes.]

 

 

[10] Reprinted from a previous blog: The Dollar Sags in Full View of the World This Invites a Run on the Dollar. Inflation Threatens US.

http://rycksrationalizations.blogtownhall.com/2009/09/25/the_dollar_sags_in_full_view_of_the_world_this_invites_a_run_on_the_dollar_inflation_threatens_us.thtml

 

[12] Paul Krugman Mumbles about Misguided Monetary Mentalities and Offers Other Hokums about our Currency

http://rycksrationalizations.blogtownhall.com/2009/10/12/paul_krugman_mumbles_about_misguided_monetary_mentalities_and_offers_other_hokums_about_our_currency.thtml

 

[13] Geithner tells China its dollar assets are safe On Monday June 1, 2009, By Glenn Somerville http://finance.yahoo.com/news/Geithner-tells-China-its-rb-15396905.html?.v=2

 

[14] The Dollar Sags in Full View of the World This Invites a Run on the Dollar. Inflation Threatens US.

http://rycksrationalizations.blogtownhall.com/2009/09/25/the_dollar_sags_in_full_view_of_the_world_this_invites_a_run_on_the_dollar_inflation_threatens_us.thtml

 

[16] Gangrening the Greenback as Explained by Warren Buffett. Liberalism Has New Excuses for Spending and Printing Money.

http://rycksrationalizations.blogtownhall.com/2009/08/20/gangrening_the_greenback_as_explained_by_warren_buffett_liberalism_has_new_excuses_for_spending_and_printing_money.thtml

 

 

[18] Buffett Sees Massive Inflation to Handle Staggering Debt. Monday, May 4, 2009 2:34 PM By: Dan Weil http://moneynews.newsmax.com/headlines/warren_buffett/2009/05/04/210480.html?s=al&promo_code=7F1D-1

[19] Misguided Monetary Mentalities By Paul Krugman Op-Ed Columnist Published: October 11, 2009 http://www.nytimes.com/2009/10/12/opinion/12krugman.html?_r=1&adxnnl=1&adxnnlx=1255352441-AuHwC8cvFBNNFMyc/w9fCg [Emphasis is mine in all quotes.]

 

Email ItEmail It | Print ItPrint It | CommentsComments (0) | TrackbacksTrackbacks (0) | Flag as offensiveFlag as Offensive

The Hag of Harpur Hacks Away at the Obama Wreckage. Salon Flips Out in Horror

The Hag of Harpur Hacks Away at the Obama Wreckage. Salon Flips Out in Horror

 

One of the more focused and unbending leftist sirens swirling in the ragzine circuit is Salon.com.  They purport to practice some strange form of balance on occasion like the times when they offered a slot to David Horowitz to blog with subscribers and submit articles for comment such as his article on the phony Rigoberta Menchú Tum [1]. These articles were sensations in the chat rooms where three Horowitz threads exceeded 30,000 posts[2][3][4] and they still magnetize the frustration and anger of the left.[5] Rush Limbaugh has had a similar success in absentia with my Sock it to Rush! Series[6][7][8][9] and some of these have apparently been deleted from the Salon Archives for political reasons.

 

Just to light the fires and get ready, we can review a previous criticism by Camille Paglia[10] on the Obama Health Care Follies:

 

I just don't get it. Why the insane rush to pass a bill, any bill, in three weeks? And why such an abject failure by the Obama administration to present the issues to the public in a rational, detailed, informational way? The U.S. is gigantic; many of our states are bigger than whole European nations. The bureaucracy required to institute and manage a nationalized health system here would be Byzantine beyond belief and would vampirically[11] absorb whatever savings Obama thinks could be made. And the transition period would be a nightmare of red tape and mammoth screw-ups, which we can ill afford with a faltering economy.”--Heads should roll -- beginning with Nancy Pelosi's! By Camille Paglia

 

This academic query shaped mountains of foam and fury at Salon and the steaming piles of spittle and spite still stand tall as Hag of Harpur[12][13] continues to advertise her views in their sticky midst in spite of the maelstrom she creates for herself by opposing any warped but sacred tenet of the far left. Paraphrasing Oscar Wilde in reverse, the beauty of the Hag is in her intellectual gifts.[14] Camille packs more cognitive ammunition in her index finger than the best of the lefties can defend against in a concerted effort. Her comments hack deeply into what the soul of the liberals should be and would dispatch them reeling to the very floors of Hell to writhe in agony if they believed in any of that. She is the Queen of Darkness in political matters on Salon as she actually resides in the leftist camp and would expected to  be groveling under the shadow of the Great Obama. She refuses. The truth is apparently more important the chucking chum for the propagandists.

 

So, with this background, we sally forth into the current fray and test the mettle of the “intellectuals” against the crass mechanics of socialist government. This contribution includes some of her fan mail and those comments are woven into her web.

 

I am amazed at the easy pass you still give the Obama administration. You continue to excuse his blunders and misses as the result of a lack of experience and bad advisors.

 

Many of Obama's policies have been a scary continuation of the worst ideas of the last year of the Bush administration, while undoing some of the few things they got right. By Hermes Diaz Miami.[15]--Salon  The Web:  Obama's critical moment approaches By Camille Paglia Plus: Letters from a tea party organizer, Palin defender, Obama critic, Polanski supporter, male soprano and more [Emphasis is mine in all quotes.]

 

The reply to Hermes:

 

Yes, ever since week one of the Obama administration, I have been doggedly calling for heads to roll. As months of crass ineptitude drag on, however, the blacklist of those who should be tagged for the guillotine gets longer and longer. The most recent fiasco, of course, was sending the president of the United States on a humiliating fool's errand to beg for the Olympics as a Chicago boondoggle. I cheered when splendiferous Rio de Janeiro rightfully got the gig.”-- Obama's critical moment approaches By Camille Paglia [Emphasis is mine in all quotes.]

 

This is so heretical that one wonders if paper copies of this ragzine might spontaneously burst into flames just after printing and spread burning sulfur fumes around the globe due to its mordant content.

 

She compounds the heresy with this rebuff of Obama:

 

Count me among those who are very critical of many of Obama's actions or evasions but who continue to like him and to believe in his potential as a world leader. It's true he has accomplished nothing thus far and did not remotely deserve the Nobel Peace Prize, a gift carrying a terrible curse. The Nobel should have been the crown of Obama's career and not the butt of jokes.”-- Obama's critical moment approaches

 

Another letter:

 

As a registered Independent, I am very concerned about where our country is headed. I am now a "right-wing terrorist" and have attended multiple Tea Parties. I host an active political Facebook page ("Pensacola Teaparty"). This is the first time in my 44 years that I have been involved in politics.”

 

“I am sickened to see our Constitution being trampled on day after day. I am disgusted with the corruption and dirty politics being played on both sides of the aisle. I am infuriated that our elected officials arrogantly refuse to listen to We the People, no matter how many genuinely concerned citizens peacefully congregate at town halls or on the streets of Washington, D.C.”-- Cheryl Casey

 

Replies the Hag:

 

The mainstream media's failure to honestly cover last month's mass demonstration in Washington, D.C. was a disgrace. The focus on anti-Obama placards (which were no worse than the rabid anti-LBJ, anti-Reagan or anti-Bush placards of leftist protests), combined with the grotesque attempt to equate criticism of Obama with racism, simply illustrated why the old guard TV networks and major urban daily newspapers are slowly dying. Only a simpleton would believe what they say.”

 

And one more from Dale Livingston:

 

The purpose of this message is to express my outrage at the frequent criticism of Sarah Palin for having gone to five schools before she graduated from the University of Idaho. What many of her critics fail to understand, or smugly disdain, is the reason she attended several schools. Sarah's parents told their four children that they could not afford to pay their way through college, and if any of them wanted to go on to college, they must figure a way to pay for it on their own.”-- Dale Livingston

 

The Hagly Comment:

 

Thank you very much for your personal testimony. I too have been repulsed by the elitist insults flung at Sarah Palin in the massive, coordinated media effort to destroy her. Hence I have been thoroughly enjoying the way that Palin, despite all the dirt thrown at her by liberal journalists and bloggers, keeps bouncing back as if unscathed. No sooner did the gloating harpies of the Northeastern media think they had torn her to shreds than she exploded into number one on Amazon.com with a memoir that hadn't even been printed yet! With each one of these amusing triumphs, Palin is solidifying her status as a bona fide American cultural heroine.”-- Obama's critical moment approaches

 

Needless to say, the loyal supplicants who read Salon for the clinical maintenance of their leftist prejudices have flown into a rage.[16] An example:

 

Salon, a pox on your house for continuing to publish this outrage-bait.”-- Boxcar Aldous Huxley

 

Gee. It is difficult to imagine how many spongy hot buttons Camille pushed in this one article.  But, in my 13 years on T able Talk on Salon.com I have had entire threads devoted to attacking my ideas and person.[17] I attack ideas and not individual posters on that thread but my comments about, say, Hillary or Bill are taken personally by the True Believers who study the writings in the ragzine for personal support. Paglia routinely encourages a rejoinder of several orders of magnitude compared to my works. Salon, thusly, acts as some eerie form of elastic pessary[18] that limply supports the political body of this ragzine as it passes through menopause destined for some stainless steel bucket. The response by the rabid left soars beyond the ordinary clinical diagnosis of mere psychosis. They feel intellectually violated [if you can fuse intellectualism with liberalism and keep your bib dry] as well as drawn and quartered with these comments.

 

But, who can legitimately argue with the content here? Can we refute The Hag and attempt to tarnish the beauty of her intellect with some data that would debase her views or talking points? Who can say that? Obama has accomplished nothing and risks being slurped into something that resembles the Jimmy Carter Malaise. The economy is crashing and Obama tears off pieces of the debt and tosses them to his guard dogs to keep the din down. Presdient Obama may soon be hailed world wide as the Second Hoover.

 

Camille Paglia has again lectured the rabid left on their mental and political deficiencies and sent her detractors spinning off into some dismal swamp. A fine work in the tradition of Saint Joan of Arc.

 

rycK

 

Comments to: ryckki@gmail.com

 



[1] Rigoberta Menchú Tum:“[her lies]..was actually written by a French leftist, Elisabeth Burgos-Debray, wife of Marxist Regis Debray, who provided the focostrategy for Che Guevara's failed effort to foment a guerrilla war in Bolivia in the 1960s. Debray's misguided theory got Guevara and an undetermined number of Bolivian peasants killed, and as we shall see is at the root of the tragedies that overwhelmed Menchú and her family.” http://www.salon.com/col/horo/1999/01/nc_11horo2.html

[11] Apparently a new word.

[12] Harpur College of the State University of New York at Binghamton, my alma mater as well as hers.

[13] A caricature assessment of her cartoon on her Salon article. Like the Picture of
Dorian Gray this view does not become more delightful as the years pass, but, then we all participate in this process.

[14]"But beauty, real beauty, ends where an intellectual expression begins. Intellect is in itself a mode of exaggeration, and destroys the harmony of any face."
- Oscar Wilde, The Picture of Dorian Gray
http://classiclit.about.com/od/pictureofdoriangray/a/aa_picturequote.htm

[15] The Web:   Obama's critical moment approaches By Camille Paglia http://www.salon.com/opinion/paglia/2009/10/14/teaparty/ [Emphasis is mine in all quotes.]

 

[17] Reinventing the Politics Folder 
Mary Beth -
05:58 am Pacific Time - Dec 15, 2005  Mary Elizabeth Williams http://tabletalk.salon.com/webx/.773b6148/1125?14@1014.38VeaUGXd2P@

I've made Politics read only for 24 hours. This will be the only active discussion for the next day, for members of the folder to come together to discuss ways of creating positive changes. 

We need to get beyond baiting and insulting, beyond painting groups with broad, negative brushstrokes. Where do we go from here? 

I'm soliciting practical, intelligent ideas here. This is not a place to air personal gripes and vendettas. Anyone who cannot abide by the Community Standards will not be permitted to participate in the discussion
.”

1207 posts blather on here about 1200 devoted to yours truly.

 

 

[18] Pick one of these that suits your politics: 1. Any of various devices worn in the vagina to support or correct the position of the uterus or rectum.2. A contraceptive diaphragm. 3. A medicated vaginal suppository. http://www.thefreedictionary.com/pessary

Email ItEmail It | Print ItPrint It | CommentsComments (12) | TrackbacksTrackbacks (0) | Flag as offensiveFlag as Offensive

Paul Krugman Mumbles about Misguided Monetary Mentalities and Offers Other Hokums about our Currency

Paul Krugman Mumbles about Misguided Monetary Mentalities and Offers Other Hokums about our Currency

 

Abstract: Paul Krugman of the New York Times monotonously and tautologically restrokes the eternal quest for more government and higher taxes using any artifice. The goal here is twofold: [1] to encourage the growth of government for any reason and [2] to raise taxes until capitalism is crushed and the splendor of socialism, or worse, is restored. He now counsels that our falling dollar, despised and shunned by more and more foreign banks is a good thing. This will help our export business he says while not mentioning the high costs of importing goods, services and oil from the rest of the world. He selectively rummages through odd bits of history and throws in a few stale caveats from 1924 while ignoring the disastrous consequences of just printing money and monetizing the debt with abandon. As a supposed economist, he apparently never studied Argentina or Germany or Zimbabwe. He argues against a stable currency as being some weird out of date concept and then wanders off into the swamps with an incoherent dissertation on “maintaining the gold value of one’s currency,” a discredited theory of Keynes from the 20s. He hints that the demise of the dollar unfairly reflects on Obama.

 

We can search the Internet or the standard paper literature for examples of successful propaganda accomplishments that have ultimately crushed societies and learn much about the general unawareness of the populace. Blessed with a host of imbecilities and other cognitive deficiencies, the good citizens of our country act as if they reside in some imaginary polis and blissfully wander about in a swamp of confusion attracted by the bright lights of phony promises and the noisy urgings of political leaders. They hunger for promises. Great leaders, alert to this frame of mind deficiency,  mount their sturdy kumquat boxes and deliver soul-stirring speeches with promises of wealth, peace and society; the pacified polis cheers. We can offer some praise  about the sturdy constitutions of such victims since when they are beaten, conscripted and fleeced they are observed to be seen crawling back to their beloved flim-flam artists for more promises with renewed sincerity and invigorated hope.  No matter if they were cheated, beaten or starved or even kept in some cold and distant gulag they want to believe and this craving to be herded like sheep fuels the modern propagandist who may be masquerading as a political leader, an expert or advisor to such, or to an actual government official, or just some common loser with a Ponzi scheme.

 

The proof statements in such political promises most frequently revolve around the advice of an ‘expert’ and these ethereal beings abound in clusters around their political benefactors who provide them with praise, jobs and phony research or study grants subsidized from the aforementioned victims. It seems you can extract everything from a True Believer and force them to the very brink of hunger and insanity and then suddenly offer them just one more ‘promise’ and they will gladly expire or yield all their possessions while being swelled with a sense of gratitude and contentment. Thus, the culturing and posturing of the ‘expert’ is essential to modern politics and propaganda is their soothing but lethal weapon. They offer tailored and trimmed promises.

 

For today’s example of how experts thrive in certain narrow political or cognitive channels we study the teachings and counsel of one Paul Krugman[1][2][3][4] as his works provide the political and thus economic  impetus for effortlessly  fleecing the cognitively disnimble. Such is the process provided, free of course, by the New York Times that is known affectionately as the Walter Duranty Papers[5] in honor of their Pulitzer Prize winner wh0se portrait proudly hangs on the wall in New York City to inspire all leftist journalists. The only thing better might be sniffing lotus blossoms or snorting coke at political meetings or union parties.

 

Propaganda at its finest:

 

One lesson from the Great Depression is that you should never underestimate the destructive power of bad[6] ideas. And some of the bad ideas that helped cause the Depression have, alas, proved all too durable: in modified form, they continue to influence economic debate today.”[7]--Misguided Monetary Mentalities By Paul Krugman Op-Ed Columnist Published: October 11, 2009 [Emphasis is mine in all quotes.]

 

We must avoid bad ideas.

 

Implicit in this interesting bit of circular logic is the assumption that our hero can tell bad ideas from the good. Saddled with the mandate that he only must proffer ideas that increase debt or big government, we can now probe the logic and substance of his unwritten words[8] and extract them for analysis. Paraphrasing what  the Old Red Lady taught us,[9] you must read what is not written to get the message--but look deeper: [Quoting Dowd: “But, fair or not, what I heard was an unspoken word in the air: You lie, boy!”[10]]. Properly constructed, an essay based on negative evidence and circular logic is unassailable but we are now equipped to sift out the truth thanks to Maureen Dowd.[11]

 

What ideas am I talking about?”-- Misguided Monetary Mentalities By Paul Krugman

 

We wonder if you know.

 

Then, 1000 years of leftist economics:

 

The economic historian Peter Temin has argued that a key cause of the Depression was what he calls the “gold-standard mentality.” By this he means not just belief in the sacred importance of maintaining the gold value of one’s currency, but a set of associated attitudes: obsessive fear of inflation even in the face of deflation; opposition to easy credit, even when the economy desperately needs it, on the grounds that it would be somehow corrupting; assertions that even if the government can create jobs it shouldn’t, because this would only be an “artificial” recovery.”-- Misguided Monetary Mentalities By Paul Krugman

 

The chief slice of propaganda here is that our expert has relied on some other expert who studied the Great Depression and came to the conclusion that big government is always best. This is a good idea. Printing money is a good idea we learn although Germany is not mentioned here.[12]

 

The gold standard acted as a reference for currencies such that governments might only print more money at their peril and be exposed. Thus, Keynesianism allows the government to steal wealth by financial stratagems from the tax payers.  This theory was recently amplified by the noble Warren Buffett when he slipped and said this:

 

“Every country that has denominated its debt in its own currency and has found itself with uncomfortable amounts of debt relative to the rest of the world, in the end they inflate,” Buffett explains. That becomes a tax on everybody that has fixed dollar investments.”[13]--Buffett Sees Massive Inflation to Handle Staggering Debt. Monday, May 4, 2009 By Dan Weil [Emphasis is mine in all quotes]

 

Buffett even offers a way for politicians to sneak around the inflation problems and get elected:

 

Legislators will correctly perceive that either raising taxes or cutting expenditures will threaten their re-election. To avoid this fate, they can opt for high rates of inflation, which never require a recorded vote and cannot be attributed to a specific action that any elected official takes. In fact, John Maynard Keynes long ago laid out a road map for political survival amid an economic disaster of just this sort: “By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.... The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”[14]-- Greenback Effect By Warren E. Buffett

 

Hide behind inflation! What a deal! What a New Deal!

 

America isn’t about to go back on the gold standard. But a modern version of the gold standard mentality is nonetheless exerting a growing influence on our economic discourse.”-- Misguided Monetary Mentalities By Paul Krugman

 

Consider first the current uproar over the declining international value of the dollar.”-- Misguided Monetary Mentalities By Paul Krugman

 

Here we go! We now can expect a cerebral display of logic and history and such that tells us it is sound and proper to just print money and let our currency flutter into the financial latrines—a good idea in his lexicon we learn. Take a look at the US dollar Index chart here http://www.bloomberg.com/apps/quote?ticker=DXY:IND. The rest of the world sees the dollar morphing into so much crap and is selling dollars and buying gold. Thus Krugman must refute this quest for monetary stability and sooth us all with the virtues of spending ourselves into some kind of condition that is crushing California.[15] That is called being progressive.

 

The dollar is sinking and everybody knows it and foreign governments are shifting away from the dollar in search of a better reserve currency.[16]

 

But, our hero must now muster and cluster the proper elements of history and lecture from his own brand of buncoeconomics[17] and instruct us in the proper path forward, which means more spending and bigger government. Those are good ideas. He has apparently only read A Tract on Monetary Reform in 1923 by Keynes and he parrots the stale anti-gold Keynesian slogans.[18] He seems not to recognize any other economics. People who routinely get insulin shock treatments seem to forget the recent past and only remember distant memories while retaining the ability to read, play the piano and work the levers of propaganda machines for profit.

 

 The shocker!!

 

The truth is that the falling dollar is good news. For one thing, it’s mainly the result of rising confidence: the dollar rose at the height of the financial crisis as panicked investors sought safe haven in America, and it’s falling again now that the fear is subsiding. And a lower dollar is good for U.S. exporters, helping us make the transition away from huge trade deficits to a more sustainable international position.”-- Misguided Monetary Mentalities By Paul Krugman

 

Right over the edge of the cliff. The sinking dollar is a good idea! A strong dollar is a bad idea. Did you get it??

 

But if you get your opinions from, say, The Wall Street Journal’s editorial page, you’re told that the falling dollar is a terrible thing, a sign that the world is losing faith in America (and especially, of course, in President Obama).”-- Misguided Monetary Mentalities By Paul Krugman

 

The defense of the indefensible. Faith in Obama is a good idea; faith in the dollar is a bad idea. Here we have some neophyte in charge who is an ideological racist[19][20], a liar[21] and a Marxian advocate or stooge[22] who promised he would not raise taxes for those below $250,000 income and would reverse this horrible unemployment and then nationalized two auto companies and advocates printing 9 trillion dollars in the near term and we have lost faith in this guy Obama??

 

This is Krugman’s best krugmaniacal artifice to date.

 

After all, the unemployment rate is a horrifying 9.8 percent and still rising, while inflation is running well below the Fed’s long-term target. This suggests that the Fed should be in no hurry to tighten — in fact, standard policy rules of thumb suggest that interest rates should be left on hold for the next two years or more, or until the unemployment rate has fallen to around 7 percent.”-- Misguided Monetary Mentalities By Paul Krugman

 

There is no mention of the effects of wildly printing money here even though many states [Germany, Argentina, Brazile and our probably model Zimbabwe] have never survived when they monetized the debt as we are doing. They were rescued by foreign loans in all cases and we wonder who will rescue us? China?? There is also no mention of the frantic efforts by the Fed to fight deflation[23], which is threatening to collapse our society. This financial crisis was caused by low interest rates and the improper use of credit and the treacherous policy of ‘affordable housing’ to bribe the low class to vote for the left that has destroyed trillions of dollars. This lunatic Keynes influenced FDR and inspired his New Deal. Hitler, FDR, Churchill and others like Stalin adored Keynes as they now had a certified scenario to spend and spend and each play the role of a galactic geopolitical colossus who could move mountains of wealth and national boundaries around to suit them.

 

Where is the discussion on job creation by the stimulus program? Where is the discussion on the costs of this phony and massive attempt to nationalize our health care system and the trillions that that will cost us and our children? How do we handle 12 trillion dollars of debt? What is the true cost of Cap and Trade and EcoNazism?

 

Does Krugman tell us that the” current uproar over the declining international value of the dollar” comes from our trading partners and allies world wide? No, he implies that this is some kind of right-wing plot to denigrate Obama and force the poor into starvation or worse.  He offers no discussion on when to apply the financial brakes and pull back from hyperinflation if we keep on blindly printing money. He still probably wants to nationalize the banks.

 

He sums up with:

 

And it’s crucial that we don’t let this mentality guide policy. We do seem to have avoided a second Great Depression. But giving in to a modern version of our grandfathers’ prejudices would be a very good way to ensure the next worst thing: a prolonged era of sluggish growth and very high unemployment.”-- Misguided Monetary Mentalities By Paul Krugman

 

We have avoided nothing of the sort. The first depression was caused by a debt-driven deflationary spiral and we are clearly in the second one in 75 years. The Fed pours trillions [7.36 trillion dollars to be exact[24]] into the banks and other unknown institutions and the money supply M2 doesn’t budge. Money is frozen in the banks. The money is swarming into some Black Hole and hiding there. It is being hoarded and held in reserve for the ugly times we face in the near future. We are in a classic debt-driven deflationary spiral[25] and still going down. The housing credit bubble is still bursting with toxic assets steadily becoming more toxic[26] and we now await the commercial real estate bubble and then consumer credit. Our biggest banks are now just hollow zombies attached to the Fed’s balance sheet flush with imaginary money flowing in iridescent tubes to their capital accounts so they can act out the pretense that they are solvent. Krugman says nothing about spending, the national debt, and the effect of a weak dollar on oil imports and on everything else we must buy from China.

 

A sobering analysis from Ambrose Evans-Pritchard writing on our new natural gas supply:

 

Energy bulls gambling that the world economy will soon resume its bubble trajectory need to remember two facts: industrial production over the last year is still down 19pc in Japan, 18pc in Italy, 17pc in Germany, 15pc in Canada, 13pc in France and Russia, 11pc in the US and the UK and 10pc in Brazil. A 12pc rise in China does not offset this.[27]-- Energy crisis is postponed as new gas rescues the world By Ambrose Evans-Pritchard Published: 5:47PM BST 11 Oct 2009 [Emphasis is mine in all quotes.]

 

This is not good news for the greens and the rest of the bad news is for all of us: Only China is growing. And Krugman and his green chums want to tax energy and make industrial production sink even lower in the US.  Krugman chucks chum and chopped liver for the far left as usual and contributes nothing to the issues at hand except to offer more bad ideas. He is a two trick pony: Big government and bigger government, a bad and then a worse idea.

 

rycK

 

Comments: ryckki@gmail.com

 



 

[1] Krugman Confuses Bacchus, Baucus and Baloney with the Threshold for Healthcare.  Not Enough Big Government in the Latest Episode

http://rycksrationalizations.blogtownhall.com/2009/09/18/krugman_confuses_bacchus,_baucus_and_baloney_with_the_threshold_for_healthcare__not_enough_big_government_in_the_latest_episode.thtml

 

 

[5] In honor of that celebrated Communist stooge and liar and winner of the Pulitzer Prize for the NYT. The color RED is used in my essays in honor of Walter Duranty, a saint, if there could be one, in the Marxist Archives of Honor.

 

He said that these people had to be "liquidated or melted in the hot fire of exile and labor into the proletarian mass". Duranty claimed that the Siberian labor camps were a means of giving individuals a chance to rejoin Soviet society but also said that for those who could not accept the system, "the final fate of such enemies is death."Duranty, though describing the system as cruel, says he has "no brief for or against it, nor any purpose save to try to tell the truth". He ends the article with the claim that the brutal collectivization campaign which led to the famine was motivated by the "hope or promise of a subsequent raising up" of Asian-minded masses in the Soviet Union which only history could judge.” http://en.wikipedia.org/wiki/Walter_Duranty

 

[6] Mirror mirror on the wall………….

 

[7] Misguided Monetary Mentalities By Paul Krugman Op-Ed Columnist Published: October 11, 2009 http://www.nytimes.com/2009/10/12/opinion/12krugman.html?_r=1&adxnnl=1&adxnnlx=1255352441-AuHwC8cvFBNNFMyc/w9fCg [Emphasis is mine in all quotes.]

 

[8] The new and novel  Unspoken Words Theorem’ invented by Maureen Dowd the Old Red Lady of the Old Gray Lady

 

[9] Maureen Dowd. Op-Ed Columnist Boy, Oh, Boy By Maureen Dowd

Published: September 12, 2009 http://www.nytimes.com/2009/09/13/opinion/13dowd.html

 

[11] From a previous blog: The NYT’s Frank the Crank Smears Glenn Beck and Maintains the Quality of Journalism at the Old Gray Lady

http://rycksrationalizations.blogtownhall.com/2009/09/22/the_nyt%e2%80%99s_frank_the_crank_smears_glenn_beck_and_maintains_the_quality_of_journalism_at_the_old_gray_lady.thtml

 

[12] One of the biggest inflations in history was in the German Reich after the First World War. The inflation was not so momentous during the war; it was the inflation after the war that brought about the catastrophe. The government did not say: "We are proceeding toward inflation." The government simply borrowed money very indirectly from the central bank. The government did not have to ask how the central bank would find and deliver the money. The central bank simply printed it. http://www.capmag.com/article.asp?ID=2763

 

[13] Buffett Sees Massive Inflation to Handle Staggering Debt. Monday, May 4, 2009 2:34 PM By: Dan Weil http://moneynews.newsmax.com/headlines/warren_buffett/2009/05/04/210480.html?s=al&promo_code=7F1D-1

[14] The Greenback Effect By Warren E. Buffett Op-Ed Contributor Published: August 18, 2009 http://www.nytimes.com/2009/08/19/opinion/19buffett.html?_r=1&hp [Emphasis is mine in all quotes.]

[16] "The US dollar is being hurt by the continued talk of a shift away from a dollar-centric world," said Kit Juckes, an analyst at currency traders ECU Group http://www.breitbart.com/article.php?id=CNG.ee8e6856c300b312ea0f64a4522381ca.481&show_article=1

[17] A new word.

[23] Deflation, Deflation-Phobia and Reality. The True Believers Want to Believe. The Liberals Need our Wealth.

http://rycksrationalizations.blogtownhall.com/2009/08/17/deflation,_deflation-phobia_and_reality_the_true_believers_want_to_believe_the_liberals_need_our_wealt.thtml

 

[24] Financial Crisis Tab Already In The Trillions By CNBC.com |17 Nov 2008 |  “Given the speed at which the federal government is throwing money at the financial crisis, the average taxpayer, never mind member of Congress, might not be faulted for losing track. CNBC, however, has been paying very close attention and keeping a running tally of actual spending as well as the commitments involved.” -- Financial Crisis Tab Already In The Trillions By CNBC.com |17 Nov 2008 | http://www.cnbc.com/id/27719011 [Emphasis is mine in all quotes.]

 

[27] Energy crisis is postponed as new gas rescues the world By Ambrose Evans-Pritchard Published: 5:47PM BST 11 Oct 2009 http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/6299291/Energy-crisis-is-postponed-as-new-gas-rescues-the-world.html

Email ItEmail It | Print ItPrint It | CommentsComments (2) | TrackbacksTrackbacks (0) | Flag as offensiveFlag as Offensive
« Previous12Next »