THESE are the innocents of America’s Dunblane — each smiling face a heartbreaking plea for the nation to give up its guns.
President Barack Obama last night hinted he is determined to end the lunacy, speaking at a vigil for victims of Friday’s rampage by Adam Lanza in Newtown, Connecticut.
He suggested he is considering a radical move to ditch America’s historic right to bear arms in the wake of the Sandy [...]
Yesterday we noted the supreme absurdity of having the Fed buy 10 year Bonds two hours before the Treasury sold 10 year bonds (which obviously priced at terrific terms as there was a $4 billion hole created courtesy of the Fed if only for 2 hours). Today, the lunacy continues. The Fed has justbought $2 billion in 30 year bonds just two hours before the Treasury sells $13 billion in 30 year paper. The ponzi has become so glaring [...]
In his weekly address today, President Obama alleged that the oil industry “receives” some $4 billion in subsidies from the federal government, and that these subsidies should be ended.
“In the next few weeks, I expect Congress to vote on ending these subsidies,” said the President. “And when they do, we’re going to put every single Member of Congress on record: They can either stand up for oil companies, or they [...]
Two weeks ago When Discussing the latest lunacy surrounding America’s exponential curve #1 also known as its debt balance, we suggested what the GOP election strategy should be: “[if] the debt ceiling becomes a sticking point at the election, Obama’s chances of reelection plunge. Which makes us wonder - will Republicans grasp that the paradox of defeating Obama is precisely in giving him a carte blanche on all the stimulus programs he wants? Because if Congress approves [...]
One does not need to be a rocket scientist to grasp the fudging the BLS has been doing every month for years now in order to bring the unemployment rate lower: the BLS constantly lowers the labor force participation rate as more and more people “drop out” of the labor force for one reason or another. While there is some floating speculation that this is due to early retirement, this [...]
Among the traditionally meandering permabullish ramblings of a man who continues to ignore the disconnect between reality and his view of the world, tonight’s note by GSAM loss leader Jim O’Neill “Surreal Times” has a very ominous rhetorical question inbetween all the bullish propaganda: “The ECB doesn’t seem to regard 10-year Italian bonds as a bargain and, of course, it is rather tricky as they need to be sure [...]
The release of the Troika report (stating the what-we-all-know that is much larger haircuts will be needed for any type of debt sustainability) seemed to bring events this weekend in Europe to an early halt, according to SudDeutsche. As the sheer mathematical certainty of the event horizon that is Europe these days is slammed at light speed into the foreheads of the European cognoscenti, we finally see some actual frustration, [...]
One of the worst aspects of living in these apocalyptic times is that whenever you look around the world, wondering where you might escape to, you begin to realise that everywhere else is just as bad if not worse. Take Australia, an island built on fossil fuel with an economy dependent on fossil fuel. What would be the maddest economic policy a place like that [...]
Jim Rogers spoke to a very dramatic and even more hoarse Bartiromo, touching on old and well-known themes, namely that the administration is essentially using up its last stimulus bullet with the current recession: “When the problems arise next time what are they going to do? They can’t quadruple the debt again. They cannot print that much more money. It’s gonna be worse the [...]
Capitalism is an approach to economics that is organic. Self-interest drives individuals to pursue wealth. Through entrepreneurship and hard work and ingenuity, an economy morphs into existence. Capitalism is the ultimate meritocracy; the smartest and the most creative and the most tenacious thrive; those who cannot compete ultimately fail and must find another way to be productive market participants.
That describes what happens [...]
One of our favorite economic commentators – Jim Grant of Grant’s Interest Rate Observer – was on Consuelo Mack continuing his ongoing crusade against Ben Bernanke’s lunacy, and the monetary central planning of the Federal Reserve, particularly focusing on the topic of pernicious inflation which for good reason has received much attention of the past year. Grant, who unlike Steve Liesman correctly observes [...]
When a bankrupt zombie company offers to purchase from the Fed the very instruments that put it in bankruptcy in the first place, and which the Fed was forced to put on US taxpayers in order to perpetuate the status quo farce, you know the words Banana republic don’t even start to begin to express the describe the lunacy we live in.
Submits offer to [...]
Among the ‘myths’ debunked are:
* Cash for Clunkers was good for economy and the environment
* The inflation tax generated by government intervention
* Foreign oil dependence
And much more lunacy that would make Stalin proud. Worth the 10 minutes.
Anything that appears to be an ‘unintended consequence’ is merely a consequences they don’t care enough about to control via manipulation. Precious [...]
That little video about Bernanke, and Yardini’s take on things, is one of the few I have seen on here with merit. It leads logically once again to the conclusion that thebenbernank needs badly to go!! Bonds have cratered in the aftermath of his insistence on keeping the bond market captive for months more. The fact that bonds have refused to bend to his will is a testament to [...]
SUMMARY OF THE BIGGEST BAIL OUT EVER: EVEN KEYNES IS SPINNING IN HIS GRAVE
“In other words, total and unprecedented monetary lunacy, as every central bank, under the orchestration of the Federal Reserve, will throw money at the problem until it goes away, which it won’t. As we have long expected, Bernanke is now willing to sacrifice the dollar at any cost to prevent the euro unwind. This is nothing [...]
They are taxing everything that moves to pay for their outrageous pension benefits for Government workers. The US government is bailing out every borrower and lender involved in US residential real estate at the highest price paid in 2007! In 2007 there were ZERO underwriting standards and real estate had compounded 20% per year for almost 5 years. Is it prudent to support economic lunacy in the socialistic spirit that [...]