Blog Archives

He’s dead, Jim.

16
April 8, 2013
By
He’s dead, Jim.

S&P 500 divided by Federal Reserve balance sheet.

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The central planning will continue until the economy improves

14
March 25, 2013
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… or, Government which has proven itself incompetent in pricing mortgage risk to continue indefinitely in the business of pricing mortgage risk. The inertia of central planning: the future of housing finance in this country seems to be coming down to two taxpayer-backed concepts. One is the status quo, with Fannie Mae and...

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Think Cyprus can’t happen here? It already did.

28
March 17, 2013
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There’s two bulls standing on top of a mountain. The younger one says to the older one: “Hey pop, let’s say we run down there and f*** one of them cows”. The older one says: “No son. Lets walk down and f*** ‘em all”. - Robert Duvall in Colors The world was shocked this...

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Obama: the central planning will continue until innovation improves

35
March 15, 2013
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It turns out somebody should have watched the State of the Union speech. Obama proposed yet another bad, Soviet-style, central planning program to fix the economy. Roll Call: At a closed-door meeting between President Barack Obama and House Democrats, Kildee introduced himself as a freshman, to which Obama said, “Wow,...

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Happy Sequester Day!

153
March 1, 2013
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Yes, it is a truly tiny baby step toward fiscal responsibility, but even that’s worth celebrating given what we usually get from these clowns in Washington. Watch Obama’s stunning flip-flop in the video below. He goes from threatening to veto any bill that undoes the sequester to acting like these tiny cuts are the...

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California school district builds brand new high school it doesn’t need and can’t afford

13
February 6, 2013
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San Diego Union-Tribune: A number of teachers and parents are asking the Carlsbad Unified School District to delay the planned August opening of Sage Creek High School, arguing that it will strain resources and isn’t needed at this time. “This new high school is just going to be a ruination of the district,” said...

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Zimbabwe Ben comes to Trader Joe’s

21
January 26, 2013
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In 2010, we noted the Bernanke effect on packages of chestnuts at Trader Joe’s, shrinking the contents by 19% for an effective 23% price inflation. 2012 brings us more news of the Deficit-Monetizer-in-Chief’s impact on Trader Joe’s shoppers. The store’s iconic “Two-buck Chuck” Charles Shaw wine is getting a 25% price increase. As the...

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Well, in that case, keep spending!

9
January 11, 2013
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This is the good news on the deficit, according to liberal defenders of the Obama-Bernanke policy of endless spending, borrowing, and printing. Former conservative turned Krugman acolyte Bruce Bartlett: The Good News about Big, Bad Government Debt: We may simply be on a long, slow road to Japan-style impoverishment that never comes to an end...

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Republicans surrender on fiscal cliff

1
January 1, 2013
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Tiny tax increases, spending cuts revoked, trillion-dollar Obama deficits as far as the eye can see. The changes in tax rates that were agreed to between Messrs. Biden and McConnell would raise roughly $600 billion in new revenue over 10 years. $600 billion over ten years, when we are running trillion-plus-dollar deficits each and...

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The Collaboration of the Fourth Estate

30
December 29, 2012
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Democracy depends on an independent, investigative, even “adversarial” press.  Without the disinfectant of sunshine, corruption runs rampant in the halls of power. We’ve discussed ad nauseum on this blog the corrupt elite in Washington and New York who are enriching themselves while crushing the middle class and destroying the American ideals of liberty and...

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Boner FAIL!

19
December 21, 2012
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The markets are freaking out this morning over Boner’s failed “Plan B.”  In an incredibly ill-conceived plan, Boner built up expectations for a bill for which he didn’t have the votes, then bullied and threatened Republicans in vain. The best outcome now would be to go over the fiscal cliff.  That would bring baby steps toward fiscal...

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Zimbabwe Ben, meet Zimbabwe Timmy

12
December 8, 2012
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It turns out that Ben Bernanke isn’t the only one with the unlimited power to print infinite amounts of money. Timmy the Tax Cheat has a little legal clause that allows him to make platinum coins in whatever insane denominations he imagines.  Trillion?  Heck, why not go for googolplex? WaPo: Thanks to an odd...

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Monday Massacre: Boehner purges fiscal conservatives from key committees

9
December 5, 2012
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Because that’s clearly the message of the last election, right? That Americans don’t want fiscal responsibility. Roll Call: Speaker John A. Boehner initiated today a small purge of rebellious Republicans — mostly conservatives — from prominent committees; it’s the latest instance of the Ohio Republican’s clamping down on his fractious conference. The decisions were...

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Empire of Lies

6
December 4, 2012
By
Empire of Lies

“If we’re going to raise revenues that are sufficient to balance with the very tough cuts that we’ve already made and the further reforms in entitlements that I’m prepared to make, then we’re going to have to see the rates on the top two percent go up.” - President Barack Obama, December 4, 2012...

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Obama “compromise”: $1.6 trillion in tax increases in exchange for spending… increases?

10
December 1, 2012
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Wow.  The nerve on that guy. Republicans may have to just walk away and let us go over the fiscal cliff, and then use the debt ceiling to force entitlement reform and a path to long-term sustainability. As if Boehner the surrender monkey would have the backbone for that.  

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