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May 31, 2009

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Topsecretk9

gall, not gull

matt

Light meetings today, so have had a ball tormenting leftists on Political Wire.

I will say though, that while snarking can be enjoyable, we really need to focus more on Ogabe's habit of making policy while distracting us with the shiny ball of his and his colleagues peccadilloes.

okay then, well....did Jack & Jackie ever take a photo that bad?

matt

this just in., A must read from the New York Times. A 31 year with no experience in the auto industry is in charge of restructuring GM. From the first para:

"it's not every 31 year old who is responsible for dismantling GM and rewriting the rules of American capitalism"

Same front page

"Judge okays sale of Chrysler to FIAT"

what in hell is going on back there? I leave the country for a week and it goes completely batshit. Obama's date night just got sucked into the vortex as far as I'm concerned.

daddy

Matt,

Please bring home one of those Red Chinese Communists who understands Capitalism. We desperately need him or her.

AL

If I remember right, GWB gave up on golfing after US forces got bogged in Iraq. The reason? “I, as a commander-in-chief, do not like to pose golfing while members of US military loosing their lives and limbs in Iraq”.

Decent and humble man.

Obama?

daddy

Wow, Instapundit links this">http://www.usatoday.com/news/washington/2009-05-28-debt_N.htm">this USA Today story which says that the U.S. Debt is now $668,621 Per Household.

Wonder if that includes O's dinner in New York?

matt

saw some very cute ones. Thinking of starting my own tractor collective soon.

Captain Hate

I agree with glasater: Dunham and Worf look pretty hammered in that photo. I realize pictures can be misleading but that's not the Jack and Jackie (which I realize was a BS sham on a different level but at least they had the savoir faire to appear to be enjoying themselves at all times when they were together) of a new generation. NYC being smoke-free is something Barry probably didn't plan on. Plus his suit doesn't look like it fits. Classy.

narciso

No, not even close to John and Jackie, or Franklyn & Eleanor, who they hope to emulate. First of all, Franklyn even when
he was running for Vice President, would ever be that tone deaf. I have to chip in with a LUN, of someone who looks down to earth, but with a touch of class, even when
they are trying to insinuate something untoward about her. Gave it away, didn't I.

hit and run

Tops:
I do NOT care if they want to fly to Hong Kong for a date so long as they do not dictate what car I drive or the temperature I keep my thermostat at or tell me what days I can burn a fire in my fireplace and then have the gull to tell me to "sacrifice"

Exactly.

Most Americans, she said, don't want much.

"They don't want the whole pie," she told the women. "There are some who do, but most Americans feel blessed just being able to thrive a little bit. But that is becoming even more out of reach."...

"The truth is, in order to get things like universal health care and a revamped education system NYC date nights for me and Barry on the taxpayers' dime, then someone everyone is going to have to give up a piece of their pie so that someone else I can have more."

The trip Obama made in and of itself isn't wrong. The trips Bush made weren't wrong.

The point at which I am shown that Bush told us we were out of money and had to tighten our belts and where he attacked businesses for spending money and said that the world was ending because of carbon emissions ... before going on a personal trip is the point at which I see the similarities and am willing to excoriate Bush and cut Obama slack.

I don't mind that Obama went on a date. I don't really even mind that doing so is expensive. I don't mind that he wanted personal time with Michelle. I don't think the nation was harmed that he had dinner at a nice restaurant and caught a show, using three planes to get there and back.

I do mind that he is doing the exact thing he condemns others for doing. I do mind that he sees himself as being above any of the criticisms he levels at others. I do mind that he views himself as above and apart from the rules he would impose on the rest of us, including the rubes who still love him.

hit and run

http://www.nytimes.com/2009/02/04/us/politics/04obama.html>Well...

...it’s important for this administration to send a message that there aren’t two sets of rules,” Mr. Obama said in an interview with NBC News. “You know, one for prominent people and one for ordinary folks who have to pay their taxes.”

FIFY, Obama. Actions speak louder than words.

PD

A 31 year with no experience in the auto industry is in charge of restructuring GM.

Not a problem, unless he also has no community organizing experience.

narciso

I've lost the over and under on whether this crew is merely stupid or evil; check the LUN:

Jane

I'm not sure I mind them drinking - but I sure as hell don't think they should get drunk in public. 2 martini's then switching to a bottle of wine would be a pretty adequate buzz I think.

Parking Lot

From the body language in all the *date night* pix that I've seen, it looks to me like BamBam was in the doghouse for some reason

Parking Lot


< he was running for Vice President, would ever be that tone deaf. >>

plus Eleanor was extremely unostentatious as the old rich often are.

Captain Hate

I've lost the over and under on whether this crew is merely stupid or evil

Nothing like putting us deeper in the tank to OPEC. Where are the Repubs on this? This is a tailor made opportunity to put the Donks on the defensive and we have Rodney King Steele singing ****ing kumbaya.

Pofarmer

Is there a PIK program going on or something? Or are corn and beans prices just not worth the trouble of planting?

It's called TOO. MUCH. RAIN.

Global something or other.

We do a little of everything. Corn, Beans, Wheat, Cattle, and Cash Hay.

matt

Narciso;

Considering they shut down offshore drilling, closed off a number of oil shale projects, have pretty well spiked nuclear, closed off ANWR, are implementing cap & trade, and now this, I think it pretty obvious.

As we are in photovoltaic technologies, this is just plain nuts on Ogabe's part. The infrastructure can only handle @ 15% renewable energy because of various issues with fluctuations, and the cost is exorbitant. The only way it works is with massive subsidies.

So yeah, I think it is willful and part of a secret plan they never discussed with anyone beforehand. It seems to be a hallmark of this administration. Accountability, transparency, and it's all Bush's fault. Change you can disbelieve in.

hit and run

Is it more rain than last year, Po? Seems I heard more about rain and flooding last year. And even when we made our cross country trip at the end of June, the Missouri was completely out of its banks up near the Missouri/Iowa/Nebraska border.

Neo

Let the eat cake

Pofarmer

Is it more rain than last year, Po?

Honestly? I haven't been keeping track of amounts. However, it's constant,and it's kept us out of the fields longer. The amounts, I don't think, are as great, but the soil was already saturated and we just keep getting soaking rains every few days. Last year, we planted all our corn the second week of April, then wound up planting all our beans the 3rd week of June. This year, we have had a few days in between we could work, but we wound up replanting most of our corn, and the Soybeans that have been planted aren't a sure thing. I hate replanting.

Pofarmer

I think the rain is also farther east this year.

Danube of Thought

The star is named Betelgeuse. It's in Orion, and is one of the brightest stars in the sky. As a young man I actually took navigational sightings on Betelgeuse with a sextant, back in the days not just before GPS, but even before Loran. There were no satellites at all up there then.

No idea what moved the movie-maker (I think it was Tim Burton) to come up with "Beetlejuice."

Porchlight

From the body language in all the *date night* pix that I've seen, it looks to me like BamBam was in the doghouse for some reason

That often seems to be the case in their photos together. Hillary was better at hiding her contempt, I think.

richard mcenroe

"Better still,if he had been on top of an upturn"

PeterUK -- Don't worry, if he HAD been,he would have stomped that sucker back down where it belongs...

Rick Ballard

More green shoots!

"Even with the expectation that consumers will be cautious, economists predict that the economy as a whole is not sinking nearly as much now as it was in the prior six months."

"With seven pints on the floor, bleeding has slowed significantly, respiration is down to 8, making it much easier for the doctors to hear the faint heart beat and the EEG is much easier to read now that all those bumps have disappeared."

I liked this one too: "The expected improvement would come from less drastic cutbacks in spending by businesses."

With both legs and an arm gone, fewer cutbacks are a certainty.

The Credentialed Moron Consensus of a -1.8 contraction in GDP for Q2 is charmingly optimistic. It fits nicely alongside APs pimping of the silver lining surrounding the passing tornado.

BTW - the increase in saving to an annual rate of $620 billion marks a 23% increase in the saving rate over Q1. It sorta makes the babble about "increased consumer confidence" look like... what's the word? "damned lie" works but doesn't fit the "green shoots' meme. Oh well.

MayBee

Oh, let him get soused. Then maybe he'll be sleeping like a baby when a crisis happens, and the staff will ask someone else what to do.

pagar

Can anyone imagine asking Biden what to do in a crisis?

MayBee

I don't think they'd ask Biden, although he'd be better than Obama. I think they'd call Robert Gates or Bill Clinton.

PD

Is the term "green shoots" a relatively new development or has it been around for a while? Is its origin from this administration trying to spin bad news into good by alleging small signs of economic good news?

Ignatz

--I'd pay a quarter for the answer to Pofarmer's "what sector will lead the recovery?" question.--

I'm not sure Rick, but my quarter is on its website ending in .gov, which of course is why the letters associated with any recovery are a W an L or a U, anything except a V.

Captain Hate

Hillary was better at hiding her contempt, I think.

Funny how the last two donk preznits had *problematic* father figures and skeezer mothers who didn't instill any type of respect for women; then ended up marrying humorless harridans that the MSM incessantly describes as "brilliant" or "gorgeous". Although unlike Slick, Bammers didn't end up a hound/predator; although the MSM would probably be remarkably uncurious about that as well.

jimmyk

Rick, I think we need to be ready for the eventuality that the economy "recovers" in the cyclical sense, even as its long-term prognosis is dire. There are cycles and trends, and the economy can cycle back up despite the damage inflicted on it, even as the trend is killed. To take your medical analogy, Dr. Obama has not managed to kill the patient, the patient's own immune system may bring about a recovery, but the long-term damage from Dr. Obama's treatment will still be there.

Dr. Obama will take credit for the "recovery" nonetheless, and we need to be ready to point out what a crappy recovery it will be. Yes the stock market is up almost 40% from the trough, but it is still down 40% from its peak. The unemployment rate may well go back down to 6%, but our standard of living will be permanently lower thanks to Dr. Obama's malpractice. That's the point we and the GOP need to be emphasizing.

jimmyk

the letters associated with any recovery are a W an L or a U, anything except a V.

I'm wagering for a backwards J.

PeterUK

"Is the term "green shoots" a relatively new development or has it been around for a while?"

It has been used here for a couple of years or so to explain the verdant bits on a corpse.
"The first green shoots of recovery".
Same stable as "Dew Fresh Morning Picked Free Range Baby Mushrooms".Produced the same way in the dark and fed on manure.

hit and run

MayBee:
Then maybe he'll be sleeping like a baby when a crisis happens

Well, he's the got whining like a baby down cold.

Porchlight

Yeah, Cap'n, both of them have similar parental issues for sure. Oh, and wayward brothers as well. I'd say Hillary has about 50 IQ points on Michelle, though.

Captain Hate

Porch, as I think I mentioned here before, I grew to respect Muffer for the way she conducted her campaign after the press redirected their infatuation from her to Obinski. Particularly because she's not a particularly gifted campaigner and her oafish husband was no help to her; the best that can be said of Slick was that he didn't trigger a Meghan's Law alert.

pagar

Anyone want to offer a reason why the stock market is up this morning?

MayBee

I agree, Captain Hate.

Oh- about the post-date picture, I think it has the look about it that Obama was told his date night trip to NY didn't poll well.

Rick Ballard
Dr. Obama will take credit for the "recovery" nonetheless, and we need to be ready to point out what a crappy recovery it will be. Yes the stock market is up almost 40% from the trough, but it is still down 40% from its peak. The unemployment rate may well go back down to 6%, but our standard of living will be permanently lower thanks to Dr. Obama's malpractice. That's the point we and the GOP need to be emphasizing.

Agreed. There will be a turn in housing, simply because shelter is a need and new families are still seeking Escape from Blue Hell. We're also going to be treated to "new" statistics, the BEA and the BLS are in the process of revamping their statistical methodology in order to provide Dr. Ogabe with "scientific proof" that the patient is simply pining for the fjords and will be leaping to his feet momentarily. IMO, the Credentialed Moron Consensus is two quarters off. I can see the beginning of the upturn in your reverse J starting in Q2 '10 but not much before. The increased savings rate just isn't being adequately addressed in the Credentialed Moron economic modeling programs as yet. Neither is the adjustment on the debt serf choke collars.

Barbara

OT - Justice Department political appointees overruled career lawyers and ended a civil complaint accusing three members of the New Black Panther Party for Voting Rights violations.

Justice Department political appointees overruled career lawyers and ended a civil complaint accusing three members of the New Black Panther Party for Self-Defense of wielding a nightstick and intimidating voters at a Philadelphia polling place last Election Day, according to documents and interviews.

The incident - which gained national attention when it was captured on videotape and distributed on YouTube - had prompted the government to sue the men, saying they violated the 1965 Voting Rights Act by scaring would-be voters with the weapon, racial slurs and military-style uniforms.

Career lawyers pursued the case for months, including obtaining an affidavit from a prominent 1960s civil rights activist who witnessed the confrontation and described it as "the most blatant form of voter intimidation" that he had seen, even during the voting rights crisis in Mississippi a half-century ago.

LUN

Rick Ballard

Pagar,

Look at the two volume spikes followed by a steady bleed off. According to the there were huge blocks of BAC and GM which moved early. I've no idea as to why.

I would note that the bond vigilantes are once again taking the 10 year for Mr. Toad's Wild Ride. You don't see tandem moves like this very often.

MayBee

Obama now talking about GM:I refuse to kick the can down the road.

Ridiculous. First of all, there is no "down the road" for him. He's in charge for at least 3.5 more years. But secondly, it isn't as if their problems are solved.

Jane

Good thing we don't have any politically appointed prosecutors Barbara.

Captain Hate

Somebody at AoS reported last week that there have been huge blocks of trades of unknown origin that have been propping this "recovery" up. It all sounded rather sinister but the person doing the reporting sounded like he/she knew what they were talking about.

bad

Ibama is in full I I I I I mode today. A date with Michelle seems to induce a driving need for self-reassurance.

bad

Ibama looks like he needs a shave.

StrawmanCometh

"Anyone want to offer a reason why the stock market is up this morning?"
GM has been removed from the DJIA?

Captain Hate

Ibama is in full I I I I I mode today. A date with Michelle seems to induce a driving need for self-reassurance.

He was conditioned to saying "Aye-aye" to Lt. Worf.

MayBee

Obama just assured autoworkers losing jobs that they are sacrificing for future generations.

He is so full of it.

StrawmanCometh

"I grew to respect Muffer"
We can tell!

green shoots lun

Fresh Air

MayBee--

Well, how about they all make the sacrifice now then, so our future generations can a little head start on prosperity?

PeterUK

"Obama just assured autoworkers losing jobs that they are sacrificing for future generations."

Ignoring the probability that those with no jobs will put off having children or more children. So President Weekend O'Binge has once again forwarded his eugenics programme.

Ignatz

Dittoes to jimmyk's 11:05.
And along those lines I suspect GM and Chrysler may actually have a better chance of success than they are being given.
GM's product line is actually very good. If their costs are now competitive, which is a big if, then it is possible they can pull off a turnaround, IMO.
Marchionne at FIAT is pretty sharp as well and I would not underestimate him. If he can meld his lineup with Chrysler's underrfunded mess of cars he could pull it off too.
I believe for the foreseeable future both will have the implicit guarantee of the Feds behind them, even if they're profitable, which many people will actually consider a plus, security wise. I doubt Barry is going to let anyone, Ford especially, have a level playing field while his name is on either brand, which means the rest of his presidency.

The biggest question to me is how CAFE, cap and trade and his alternative energy subsidy/high oil and coal price policy will play out. There's enormous risk for his two automotive protege's as well as enormous opportunity for Chicago style finagling on their behalf by the Feds in all of his retarded regulation schemes.

PD

"General Motors (GM: 0.8812, 0.0862, 10.84%) and Citigroup (C: 3.7001, 0.0101, 0.27%) were slated to be removed from the Dow Jones Industrial Average and Cisco Systems (CSCO: 19.5403, 1.0403, 5.62%) and Travelers (TRV: 42.415, 1.755, 4.32%) were put in, in the wake of GM’s bankruptcy filing on Monday."

Fresh Air

Ignatz--

You left out one important detail: the unions are running both companies now.

RichatUF

Ignatz-

I believe for the foreseeable future both will have the implicit guarantee of the Feds behind them...

Not unlike Fannie and Freddie, and when it all went bad, the implicit became the explicit. I was surprised that Fiat didn't end up with GM European operations, but Magna is a major parts supplier for Chrysler and GM in any event. They also seem to be big on hybrid technology and the deal was closed with a Russian bank (humm nickle for the battery system?). Fiat can loot Chrysler for the truck lines and minivans and build plants in Thailand and Brazil while having a standing buy-out offer to Chysler UAW employees.

glasater

When I started reading this article I thought Mr. Ballard might be moonlighting as The Mogambo Guru.

And then I realized the writer could not be RB--for Mogambo is a bit more pessimistic. From the article:

On the other hand, from another perspective, John Williams at shadowstats.com figures things the "old-fashioned" way, which is to say, in this case, the pre-Bill Clinton way, and he figures that the M3 money supply is - sacrebleu! - falling, and is now down from its high of about 17% growth in 2008 to only about 7% now, which is still "terrifying", but down from "suicidal."

Then I read that Mr Williams figures that the unemployment rate, measured the old-fashioned way, is about 20%!

Parking Lot

Porchlight

((That often seems to be the case in their photos together. Hillary was better at hiding her contempt, I think.))

I've actually been surprised at how much in the 'background' MO has been ... I expected her role to be way more in the political spotlight, like Hillary's.

If indeed she is peeved about not having a more prominent role (with more media attention), I don't think any number of *date nights* will solve that.

Bill in AZ

Dr. Obama will take credit for the "recovery" nonetheless, and we need to be ready to point out what a crappy recovery it will be. Yes the stock market is up almost 40% from the trough, but it is still down 40% from its peak. The unemployment rate may well go back down to 6%, but our standard of living will be permanently lower thanks to Dr. Obama's malpractice. That's the point we and the GOP need to be emphasizing.

One way to do this is to not fall for the Green Shoots mentality of the MSM in describing a "gain" of 40%. Chairman Zero knocked the economy off a cliff when he was elected because business owners the world over recognized the disaster coming. The market fell to 45% of its high during the Bush years. It is now at maybe 62% of that high, a net "recovery" of maybe 17 percentage points (not 40%) as we try to stand up on this narrow ledge before Soros shoves us off of that to the bottom of the cliff.

Porchlight

Parking Lot (love your handle btw),

I think they tried putting her out there in a more political way earlier on, but it probably didn't poll well. Hence the WH perfect mom/wife/fashion maven/organic gardener routine we're seeing now. Let's face it, Michelle's mother takes care of the kids most of the time and has done for a long while now. It would be more appropriate to shower praise on her, imho.

Parking Lot

((Anyone want to offer a reason why the stock market is up this morning?))

the SM cratered when everyone sold off their equities and turned to US dollars for refuge

maybe now everyone is fleeing the dollar and seeking refuge in equities

just a guess

RichatUF

Parking Lot-

Why would fleeing from the US dollar to go into a US domiciled and denominated asset class actually protect an investor if the investor were worried about the value of the US dollar?

jimmyk

One way to do this is to not fall for the Green Shoots mentality of the MSM in describing a "gain" of 40%.

Agreed, Bill in AZ. The 40% number is accurate but misleading. I didn't figure it was necessary in this crowd to package it the way you did, but a lot of people don't realize that a 40% gain after a 50% decline only represents 20% of the way back.

glasater

Totally off topic but this is so cute:

Future Hostess of The View.

Bill in AZ

jimmyk, I know you and everyone here understands that, but if the rest of the world gets called on it Every. Single. Time. it becomes habit to reflect the world in reality. I call it the "Gratuitous Talking Point" any time some MSM talking head slips something like that in and doesn't get challenged on it.

Old Lurker

Ignatz...I love you Bro...but how anyone can expect anything good from an auto company controlled by politicians and unions is beyond me.

Parking Lot

RichardUF

((Why would fleeing from the US dollar to go into a US domiciled and denominated asset class actually protect an investor if the investor were worried about the value of the US dollar?))

I guess I have been watching too many Peter Schiff videos. When I wrote my post I was thinking more about the kind of equities that Peter Schiff recommends ... does that answer your question?


RichatUF

Parking Lot-

Sort of. I can see moving to Australian equities (and ag and resources generally) but I'm not up to speed on what Schiff has been talking about recently.

The market has the feel that it is in the hands of the technicians and chartists and until some news, which pierces the Obama "green shoots" bubble drops, they'll be in charge running the markets up and down getting everything back into "historical ranges". FWIW.

jimmyk

a 40% gain after a 50% decline only represents 20% of the way back.

Oops, that should have been "40% of the way back." The point is that it's not 80%.

jimmyk

Why would fleeing from the US dollar to go into a US domiciled and denominated asset class actually protect an investor if the investor were worried about the value of the US dollar?

There's another answer: inflation. In principle, stocks, like real estate, are immune from inflation in the long-run, whereas bonds and the dollar are not. Of course inflation usually is not good for stocks in the near term either. But there's no reason a flight from the dollar has to kill all dollar denominated assets.

Old Lurker

Jimmyk re why stocks are going up: "There's another answer: inflation."

Then you have to explain why stocks stayed dead flat for the fifteen years of our last hyper inflation from the late sixties until the early eighties.

sbw

Tops and Hit, here is why Mencken is the best:

"Whenever A annoys or injures B on the pretense of saving or improving X, A is a scoundrel."

Old Lurker

From the WSJ lead editorial:

"The Obama Administration has been whispering to the press that it could start selling its stake within a year to 18 months, and that it hopes to be out of the business entirely in five years. But even assuming that the taxpayer investment stops at $50 billion, GM would have to be worth a cool $80 billion for taxpayers to break even on their 60% stake. By way of comparison, GM's market capitalization at its recent peak in 2000 was only $56 billion."

Ignatz

--Ignatz...I love you Bro...but how anyone can expect anything good from an auto company controlled by politicians and unions is beyond me.--

OL,

Love you too bro, but my post was in response to the oft repeated claim that GM and Chrysler are headed directly to oblivion from here.
I doubt that. I think one of two things will happen.
Either the UAW and team Barry will have the sense to let them make cars on their own in relatively good financial health and reap the rewards of that, all the while giving them the implicit guarantee Rich spoke of above.
Or the UAW and team Barry are going to keep them limping along directly on the government dole if they stupidly choose to run them themselves.
Nothing good will come of the latter and the former will be far less than good if that implicit guarantee is not eventually eliminated. The first will be an open spectacular disaster but the second will be a stealthy market distorting one.

But in neither case will they simply dry up and disappear.
Even United Airlines still exists even though the employee owners flew it into the ground after they took over.

Old Lurker

I agree with you there, Ignatz, though I suspect you wasted perfectly good ink on Option A!

Had you already seen the WSJ editorial, a paragraph of which I just posted?

The Govmo "deal" clearly looks (financially) bad for taxpayer-investors under either of your options, though of course governments always ignore things like that. I suppose the Progs would say if jobs are protected and a captive manufacturer can produce windup cars, then it's worth the price paid...

On the other hand, if the union owns two of the companies and also the political levers, when they turn the screws on Ford and then the foreign companies, several more of the actions that turned 1929 into a global depression will be in place.

Parking Lot

((but I'm not up to speed on what Schiff has been talking about recently.))

He posts a video daily, they are interesting. He is preaching the same gospel he always did. I can't stand Lew Rockwell but I go to the LR blog to hear Schiff's videos that are posted there. On Friday Schiff said he'd just had his best week evah. I'm still not a hundred per cent with him tho.


((The market has the feel that it is in the hands of the technicians and chartists and until some news, which pierces the Obama "green shoots" bubble drops, they'll be in charge running the markets up and down getting everything back into "historical ranges". FWIW.))

I don't think the market is being driven by 'green shoots' I have only been following the stock market for about one year and it seems to me that things are following the exact same pattern as they did last year, oil going up at this point in time and so forth ... which implies to me that the coming months are gunna bring another severe downturn. That is strictly my personal opinion FWIW

daddy

Good Morning. Concerning the cost to taxpayers of Date-Gate.

The last line of yesterday's New York Post story which said the cost of the date was at least $24,000, was this:

"The White House declined to say how much the trip was costing taxpayers."

Todays UK">http://www.dailymail.co.uk/news/article-1189893/How-Obamas-romantic-120-trip-Broadway-racked-45-000-bill.html">UK Mail Online did the digging and says: "The romantic jaunt is estimated to have cost the taxpayer more than £45,000 in transport and security costs - because the date was in New York."

So, simply plug 45,000 UK Pounds into any online currency converter to US Dollars and we find:
"73742.1229 US Dollars (USD) is equal to 45000 UK Pounds."

That's right, Last nights date cost US Taxpayers at least $73, 742.

Has anyone seen that reported by the US Media anywhere?

Pofarmer

Good thing we don't have any politically appointed prosecutors Barbara.

I suppose somebody will be calling for a special prosecutor any minute now?

I won't hold my breath.

Pofarmer

GM's product line is actually very good

I expect that to be halted any time now, really.

And I think the Chrysler Fiat deal is suspect. Fiat has been doing big business buying essentially second tier brands and gutting them. Quality control at CaseIH appears to be in the shitter, for one. Too many too cheap electrical parts on a 200k tractor = pissed of customers. I expect the same fore Chrysler.

You guys may not have been following commodities lately. Find a site like barcharts and dig around. Soybeans are taking off, wheat, lumber, as well as oil, all of them in the face of things which are technically bearish. The whole setup stinks.

jimmyk

Then you have to explain why stocks stayed dead flat for the fifteen years of our last hyper inflation from the late sixties until the early eighties.

My two-word answer is Jimmy Carter. That plus OPEC. Which is only to say that there are lots of things that can adversely affect the stock market. Of course, Obama is much worse than Carter, but that doesn't mean the Dow can't get up to something like 80% of its previous peak.

cathyf
If their costs are now competitive, which is a big if, then it is possible they can pull off a turnaround, IMO.
It seems to me that both "bailouts" are about nothing else besides making sure that their costs cannot be made competitive.

(And can somebody tell me when the unions went wacko? Used to be that the union workers at Deere and Cat understood that bad for farmers meant bad for them. The UAW understood that their prosperity depended on being able to sell those cars. I wonder if it's the rise of government-employee unions -- those people get paid no matter how destructive they are. I keep thinking that this just goes to prove that the mafia isn't in charge any more -- they'd be a lot smarter than this!)

Fresh Air

Jimmyk--

There was a huge amount of short-covering last week. That's part of the rise. I think a lot of the rest of it has to do with chartists and computer programs that can't understand what Zero and Turbo are doing because those inputs don't translate into programs well.

The other thing is that gold is nearing $1,000 an ounce. There is no fundamental demand for gold at that level or anything close to it. Some investors may be parking cash in the stock market while waiting for gold to cool off.

Though that won't happen because the dollar is heading towards ruble territory.

Buy bleach; you can use it purify water. You already know about the firearms and ammo.

Parking Lot

((Parking Lot (love your handle btw),))

funny you should say that ... I have actually thought on more than once how evocative your moniker is, for me it conjures up lovely Thomas Kinkade-like visions ...

((I think they tried putting her out there in a more political way earlier on, but it probably didn't poll well. Hence the WH perfect mom/wife/fashion maven/organic gardener routine we're seeing now. ))

you could be right ...

whatever the reason I don't think her new job is fulfilling her expectations

Ralph L

cathyf, it may the world's worst case of biting off your nose to spite your face. O's latest CAFE regs show that he isn't serious about getting the Big 1.2 off the dole. Ford will be in Ch 11 pretty soon, so I'm glad they spun off several companies, which I sold, netting twice my original investment in Ford.

JM Hanes

PUK:

Daddy beat me to it, but It looks like there's at least one thing that has survived longer on your side of the pond than ours! Per Gateway Pundit, the Daily Mail actually shows some interest in following the money.


Daddy:

Of course, there are known unknowns yet to be considered. We don't know if Michelle bought a new dress for the evening, for example, and if she did, who paid for it. Couldn't Shouldn't be much of an add-on though. OTOH, you'd be astonished at what a little turquoise clutch can cost.

Given the "investment" of tax payer money in this public-private "venture" I'd have thought our President could, at a minimum, have offered Mayor Bloomberg a handshake on the tarmac, as he did Nevada's governor. So much for multi-tasking! If, however, you factor in the $100 million savings provided by a thoughtful Cabinet, Obama has only got to spend $930K more to bring things back into balance. The multiplier on an intimate public White House date has got to be respectable, if modest -- and more shame on us for not recognizing the symbolism in this down payment on family values.


Last but not least for the lingering Fashionistas among us:

There's no way to top the photo Ann posted last night, but the Daily Mail's PG-rated S-curve shot of Michelle boarding So-Hard-to-be-Humble-One confirms my concern that FLOTUS is struggling with a hairstyle deficit along with everything else. On the bright side, however, she did nix the argyle in favor of basic black -- unless, of course, this is just the black-on-black version.

glasater

The last photo in the Daily Mail article which shows the Zeros' getting off the jet and again looks like he is hammered.

The only reason I say this with any authority is that having served cocktails during my last year in college and for a time after--the look is unmistakably familiar.

Barbara

Glasater,

Yes, he looks like one pooped croupier.

She, on the other hand, is wearing her usual, oh-so-charming glare. Why is this woman so unhappy?

Rick Ballard

"Why is this woman so unhappy?"

It's rather obvious that the ward heeler's daughter regrets having married below her station. That or something, somewhere was bunching badly.

glasater

She, on the other hand, is wearing her usual, oh-so-charming glare

Heh Barbara-
I was close in thinking "imperious gaze".

Barbara

Rick - LOL!

Glasater - I like "imperious glaze" better.

daddy

Interesting JMH,

Just did a run through of the Home Pages for FOX, CNN, ABC, and MSNBE. Not a single one mentioned the $73,000 taxpayer price-tag. In fact, excepting CNN, none of them mentioned the NY City date business at all. Already down the memory hole. Surprisingly Jack Cafferty of CNN mentioned it, but neglected to discuss the cost, and essentially wrote it as something that made New Yorker's happy, Republican curmudgeons grouchy, and laid the blame for the cost, whatever it was, at the foot of The Secret Service.

Time to update Shakespeare: "First thing we do, we hang all the News Media---then we hang the Lawyers."

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