Saturday, August 06, 2011

Pot, kettle, black

Republicans Want Geithner to Walk The Plank After Credit Downgrade

Seems to me all of our elected officials ought to do that, even ones who have left office. They're all at fault for this.

"Atlas Shrugged" was a Warning, not a Manual: Brother, can you spare a loan?

(Via the Drudge Report)

Missing $420,000, a small town in Oregon is seeking loans from its citizens if the banks won't accommodate them.

"Gee, we lost the tax revenue we took from you at the point of a gun...do you think you could float us a loan until we can extort some more?"

You know, if I were writing fiction, no editor in his right mind would buy these stories. I hope the population of Oakridge, OR doesn't buy this one.

I told you earlier

Any rating agency that even considered downgrading US debt would come under pressure. Good on S&P for taking a stand. Now, we should expect The Powers That Be to ratchet up the pressure in an attempt to get them to back down. Watch for it, because given the record of those in control, it's coming.

Friday, August 05, 2011

Well, we knew that was coming

S&P downgrades the US to AA+.

Nothing more to say, really. It speaks for itself.

Thursday, August 04, 2011

"...an isolated event..."

(Via the Drudge Report)

AGAIN.

Kelly Thomas, diagnosed as schizophrenic, is beaten to death by police while multiple videos are captured of the event. The CBS story is pretty pathetic on details, but it appears to have occurred in Fullerton, CA.

The police explanation?

"We have a good department full of good individuals," he said. "We've made more than half-a-million law enforcement contacts over the past 4.5 years ... This is the only instance of this kind that's happened."

Goodrich said officers receive training on how to deal with the mentally ill and the homeless. But an attorney representing the department, Michael D. Schwartz, said that "public perception of officers' trying to control a combative, resistive suspect rarely conform to those officers' training, experiences, and what those officers were experiencing at the time or reality."

Uh-huh. I wonder what Mr. Schwartz would say it it was his kid who was tased 6 times and then beaten to death?

I really want to see the video of this one and see if it matches the story's description of events. If it does, I want to see if real justice is served. You may guess how I'm betting on both.

Wednesday, August 03, 2011

And speaking of Congresscreatures who need to be unelected

Tea party-backed candidates split on the debt ceiling vote 76-34 according to a Washington Post tally. U.S. Rep. Renee Ellmers, a Republican representing the 2nd Congressional District who received Tea party backing in her campaign, cast her vote for the final debt deal.

This is not the first, second or third time Ellmers has failed to stand by positions she voiced during the campaign. Next time around, the Tea Party needs to be a bit more careful who they campaign for, it seems.

"Atlas Shrugged" was a warning, not a manual: I'm a politician--how dare you speak of me!

In a case that could test the bounds of free speech, a former Democratic congressman has been allowed to proceed with his lawsuit against a prominent pro-life group that he claims contributed to his election defeat by spreading falsehoods about his record on abortion issues.

A federal judge in Ohio ruled Monday that former Rep. Steve Driehaus' defamation suit against the Susan B. Anthony List can go forward. The former Ohio congressman claims the group "disseminated lies" about him, effectively costing him his job -- as well as inflicting "reputational" and "economic" harm.


OK former Congresscreature Sparky...

First, you're a politician. If you don't want your reputation sullied, try getting a better job, like as a pimp, male prostitute or drug dealer.

Second--economic harm? Spare me. You got unelected. You are no more economically harmed by that than the who know how many of people in your former district you have lost their jobs because of looters like you.

Hm-m-m...maybe they ought to be suing him.

Rule 1 Violation

No, not Rule 1 of Col. Cooper's Four Rules, but Rule 1 of Gunfighting.

Bring a gun.

Tuesday, August 02, 2011

It appears that the markets are signalling their thoughts on the debt ceiling

Dow Skids Below 12,000.

When even Wall Street gets it, you have to wonder how the political class could fail to get it.

Bend over, America

Because here it comes again.

The Senate voted Tuesday to approve a bipartisan deal raising the debt ceiling, effectively putting an end for now to the partisan crisis that risked the first-ever national default.

Of course this will be signed, because it allows those in power to borrow another $2 trillion more before the election.

Politicians, trees, ropes. Some assembly required. Seriously required.

Monday, August 01, 2011

So...

I've been trolling through the press and the blogs while I eat lunch; reaction to the alleged deficit reduction deal is mixed, to put it nicely. I am kicking myself; I wanted to say that the drop after the "relief rally" would start by noon. The charts show it about 10 AM, but it probably wasn't caused by the dawning of the light but by other related factors. Oh well, it's not like I'm a financial blogger.

SurvivalBlog has been spending a lot of time on the subject of late, and I found this article that discusses how fast things would happen if US sovereign debt were downgraded. So you ask, how fast would things happen?

Oh, snap!

Of course, they're making educated guesses, just like me. It might not be that bad. But if you prepare for the worst, you're also prepared for anything less.

Not too high on the budget "deal"

Some other folks also think it is made up of equal parts of smoke and mirrors.

Watch the markets today. CNBC and others expect a "relief rally", perhaps a very short one. I expect a "as reality sets in" decline in stocks in the near future, plus weakness in the T-bill markets. There may also be some currency issues, but I expect any real problems there to take longer to surface. The rating companies will be under significant pressure to play along with the narrative; it's going to be very interesting to see if they go along.

Here's my view overall--this is a blip. The trajectory was set long ago, and we're just waiting to get to the point of impact. While we can all beat on the Big O for his administration's profligate spending (I believe that history will note it as the proximate cause of the collapse), he had willing accomplices dating back over a century in both parties. Many people are now beginning to see this, if only in bits and pieces. (It will be very interesting to see what happens if this becomes a widely accepted truth.)

There is no way to know when the impact will be, just as there is no way to know how bad things might get. We can (and should) keep leading our everyday lives, but we should also get ready while we still can. Do the beans, bullets and band-aids thing, but at the same time you need to begin mentally toughening yourself. You, me, all of us--we are going to be asked to do things and outlast situations beyond anything we might have considered a few years ago. How we perform will determine whether this is a Greater Depression or Mad Max.

Sunday, July 31, 2011

They get a deal

And the country gets screwed. Mark my words, this does not fix our fiscal issues--it just kicks that can down the road a bit further.

Ghostery

Here's a Firefox add-in that allows you to track those who would track you on the web--Ghostery. I've installed it and am being absolutely amazed at the number and variety of sites that would like to know things about me that are none of their freaking business.

Remember Mitchell Crooks?

(Via the Drudge Report)

If you don't, allow me to refresh your memory. He's the guy who's videoed beatdown by Las Vegas PD Officer Derek Colling made the news some time back.

It seems that, with enough evidence and public outcry, even the LVPD has to admit Officer Colling's wrongdoing. Of course, whether or not he suffers more than a wrist slap is still subject to discussion.

This could be very entertaining

If the United States stops paying its bills, who can sue?

Potentially, at least, it's a staggering answer: In all, the U.S. government cuts about 100 million checks a month, including to Medicare and Social Security recipients, bondholders, and government contractors.


OK, let's assume all the various groups could get past that whole "sovereign immunity" thing...

Couldn't you just see some sheriff's deputy padlocking the doors to the US Congress? If the government was smart, they could sell tickets to that event and retire a substantial portion of the national debt.