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June 11, 2012

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MarkO

Huh?

GMAX

Krugman is just mad that the Euros will not attempt to bail Zero out. They are looking out for themselves, what a novel concept. Who saw that coming?

Rick Ballard

Today's pricing of Spanish bonds indicates the EUtopian stick save to have been a Krugmanian complete success*.

*"Krugmanian complete success" is to be given a very broad definition, including "total failure" in this instance.

NK

TomM-- you are being far more generous to Herr Doktor K than you should be. I too could almost feel sorry for Krugman-- almost. Krugman is watching his life's work, Keynesian public spending as a means of regulating the business cycle, and treating public debt as a cost free public investment, go up in smoke- completely discredited by the ECB and, reality. Of course Krugman is railing and sputtering--reality has played him -- and everybody who believed him-- for a fool. THE PROBLEM in the EU is cradle to gave socialism and overregulation of business and commerce. Low growth, the Euro currency debacle, the demogrphic collapse, the cultural self-loathing, are all symptoms of the socialism disease. Krugman can't admit that, so he eails and sputters. He's a pathetic little prat.

NK

"rails" and sputters....

Neo

Hereto unheard of U.S. Commerce Secretary arrested for "hit and run" in LA

Authorities are investigating a series of traffic collisions in the San Gabriel Valley involving U.S. Secretary of Commerce John Bryson, authorities said Saturday.

Bryson was found unconscious in his vehicle and has been hospitalized, officials said.

Bryson was driving a Lexus in the 400 block of South San Gabriel Boulevard shortly after 5 p.m. Saturday, when he allegedly rear-ended a Buick as it was waiting for a train to pass, according to a statement released by the L.A. County Sheriff's Department and the San Gabriel Police Department.

After briefly stopping to talk to the three men inside the Buick, Bryson left the location in the Lexus and then struck the Buick a second time, authorities said. The men followed Bryson's car and called 911 to ask for police assistance.

Bryson continued to drive his Lexus into Rosemead, which is patrolled by the Los Angeles County Sheriff's Department. There, he allegedly crashed into a second vehicle near the intersection of San Gabriel Boulevard and Hellman Avenue.

There authorities found him alone and unconscious behind the wheel of his car.

NK

State/Muni Debt default-- I've been following the subject professionally and personally for about 5 years. Instapundit has several links this morning related to that subject. Amongst them is the below link: I'm sure it will come as no surprise to MelR that Illinois's teachers' pension fund is a political scam, with lies being told to both the teachers and taxpayers. http://blogs.the-american-interest.com/wrm/2012/06/09/illinois-teachers-beware-your-pension-is-a-scam/

Kevin B

Daniel Hannan in the UK Telegraph describes the Spanish Bailout in quite vivid terms:

Europe is giving itself a transfusion, taking blood from one arm and pumping it into the other; and the tube is leaky.
Ralph Gizzip

You know, Neo, that could be the perfect analogy to the Obama Administration's handling of the economic realities of today. Hit and run, hit and run, careening off the road only to be found unconscious.

jimmyk

Krugman is watching his life's work, Keynesian public spending as a means of regulating the business cycle, and treating public debt as a cost free public investment, go up in smoke- completely discredited by the ECB and, reality.

The big challenge in the next decade is going to be to drive this point home against those like Dr K who will say that the Keynesian solution was never tried. It's the same sorry fallback that the commies used for years. The Keynesians are even more "true believers" than the commies, and there are more of them, many permanently ensconced in positions of power like the Fed.

NK

KevinB-- thanks to the link to Hannan; that link proves there's at least 1 man in Europe who has some sense, and the courage to speak it. Adding debt to a debt problem solves nothing-- obvious, right? Krugman refuses to figure that out, that's why he's railing and sputtering.

NK

jimmyK all true-- but I think reality sinks in and swamps the Wile E Coyote geniuses like Geithner and Helicopter Ben. At least I pray that is what happens,

Chubby

I guess this story is marginally related:

Goldman Sees a 29% Return From Commodities Over [next] 12 Months

By Maria Kolesnikova | Bloomberg – 6 hours ago

((Goldman Sachs Group Inc. (GS) said it expects a 29 percent return from the Standard & Poor's GSCI Enhanced Commodity Index over the next 12 months, with the biggest gains in energy and base metals.

Policymakers in Europe will be able to contain the continent's debt crisis, while recovery in the U.S. and China is set to continue, Jeffrey Currie, head of commodities research in New York, said today in a report. Returns on energy investments may be 41 percent in 12 months, compared with 23 percent in base metals and 18 percent in precious metals, while agriculture is forecast to lose 14 percent in the period, according to the report. ...))

LUN

Ignatz

--The big challenge in the next decade is going to be to drive this point home against those like Dr K who will say that the Keynesian solution was never tried.--

In a sense they're correct.
Actual Keynesianism has been tried, and has failed miserably, in that we have had massive government spending without a significant tax increase.
The Krugman notion of Keynesianism, massive government spending coupled with onerous new taxation, an idea so profoundly stupid it would make even Keynes blanch, hasn't actually been tried yet. Let's hope to God it never is.

Dave (in MA)

Captain Hate, I agree with your comment over @Ace in the Jeb thread. For some reason my work IP is blocked and the moron told me 3 times so far he'd fix it.

cheap mbt sandals

a modest spur to induce others to come forward with valuable contributions; throw a sprat to catch a whale

Chubby

re the Goldman outlook: wasn't that almost exactly the same thing Goldman was saying prior to the crash of 2008?

hrtshpdbox

Goldman Sachs predicting an 18 pct gain in precious metals over the next 12 months is completely meaningless - anyone, anywhere is capable of an equally valid guess, and with an equal likelihood of accuracy. It reminds me of the studies where monkeys, picking stocks by throwing darts at pages of the WSJ, outperformed market analysts.

NK

Ig-- I do have to disagree with your@11:30--the Krugmanism you described has been tried. It was called the Devine Right of Kings in Europe, Dynastic Imperialism in China, Caesar in Rome, and Pharohism in Egypt. Bankruptcy, revolution or conquest by foreigners followed in each case, so the world thought it was safe from anyone repeating that absurdity. Enter Dr. Krugman.

Captain Hate

Captain Hate, I agree with your comment over @Ace in the Jeb thread. For some reason my work IP is blocked and the moron told me 3 times so far he'd fix it.

Which one? My IP got banned there a couple weeks ago and either it got corrected after a day or my IP changed when I rebooted (at least going by what my hash appears to be there); I never got a response to my email.

Jack is Back

Coming back from dropping Frederick off at Backetball camp, I had the local station on and they bring Glenn Beck. I haven't listened to him too much lately but he was in perfect form today discussing the Euro situation, Spain and in particular Greece.

According to Glenn, Greece has two major cash generators - shipbuilding/repair and tourism. Just to show how bad things are, 90% unemployment in the shipbuilding industry and now the tour bus drivers are going to go on strike for 4 days. Now how does that help?

Then there is this tidbit. Greece has a single payer health system - their own version of ObamaCare - in which pharmacies have not been paid in over 3 months or more and are owed over500 million euros. Pharmacists will only fill prescriptions, even cancer meds, for cash not government insurance. Same with hospitals.

And Obama wants us to be more like Europe and Krugman wants them to spend more but they have nothing more to spend. This is what you get with Keynesian and Germany is tired of bailing out those who will not stop spending.

Chubby

((picking stocks by throwing darts at pages of the WSJ, outperformed market analysts))

except that Goldman might have more "inside" information and power to affect outcomes? they could be either strategically divulging or witholding, either way to profit themselves

NK

Goldman-- thy name is conning the "muppets". In early spring Goldman told clients GO LONG on the Dollar. Now they are saying further QE in China, Europe and USA will send commodities skyrocketing. There is a good Hitler video about Goldman's Strong Dollar call and the resulting margin squeezes that hammered customers who took the advice. And people actually pay fees to Goldman to be treated this way? Jeez...

NK

Chubby-- "...either way to profit themselves..." Internal Goldman emails described their own customers as "muppets" -- what do you think?

hrtshpdbox

..except that Goldman might have more "inside" information and power to affect outcomes?
No, though I'm sure they wish that were so. Commodity price movements will be determined by unfolding economic and political global events (or, more precisely, how the fickle markets happen to perceive the meaning of those events). There's no inside track, and except for short-term moves you might as well flip a coin.

Chubby

((There is a good Hitler video about Goldman's Strong Dollar call and the resulting margin squeezes that hammered customers who took the advice.))

It's wrong to laugh at the misery of others, but I'll have to look that one up :)

NK

hrtshpdbox-- 'short term moves' Goldman lives for those nanosection moves, with hedged side bets going the other way, the bank's own customers be damned. Given Goldman's history, it seems like those short term moves add up.

Dave (in MA)

Cap'n, it was Ace himself that responded to my e-mails. There's supposed to be a new registration/commenting system being rolled out soon over there. Hopefully it'll let me waste time over there, too.

Captain Hate

Dave which was the comment you agreed with? The one about the conservative message being vindicated?

Even though I think DrewM may have overreacted to Jeb's comment based on that dipstick article which may have been extremely misleading, Jeb should know better than to run off at the mouth about stuff like that given his family's history.

rse

Love hannan.

ch-I don't know what your comment was about jeb but I am still fuming that his ed alliance which people look to for policy advice is so tone deaf they would put a digital literacy tech vp in charge of their Digital Literacy initiative. How is that not Corporatism driving the ed policy? or at least disregard for conflicts.

I also had a run-in over the weekend with another policy analyst from there annoyed that my work on charters being calculatingly abused to mislead the public was in the way of their school choice push.

You know these conflicts are fixable if you are just aware they exist. Perhaps that's yet another area where the masses are best left uninformed.

Perhaps it is their patrician background that makes them assume because their intentions on education are good all their programs must be as well. All 3 men have been played royally on this issue and none of them seems aware of it to this day.

Do you have any idea what came in under Poppy and Lamar's break the mold schools?

hrtshpdbox

NK, I know of Goldman peddling derivatives to their customers while knowing those derivatives would fail (and, in fact, being on the other side of them). Trading futures is different; unless you're the Hunt brothers circa mid-70s, buying up 25% of the world's physical silver (which the exchange put the kabosh on by changing the rules to long-liquidation only), or you go long oil because you're some despot about to bomb the Straits of Hormuz, or perhaps you're George Soros who can sell do deeply into a currency that every stop-loss order gets hit - unless you're in one of those situations, you're like everyone else, i.e. clueless. Take that precious metals call of Goldman's; I don't know what it's based on, but I know I disagree with it anyway. Gold, like other commodities and the stock market, has been boosted by worldwide monetization; assets need somewhere to go, but the central rationale for the monetization (that easy money policies will hasten the economy's rebound) has not been borne out this time around. As I feel that global economies will continue to sputter (or worse), I can't see continued strength in prices (for anything). Now, I'm sure that Goldman lays out a nice case for their bullish outlook but, again, I disagree, and I'm quite confident that Goldman is no more likely to be right than I am.

hrtshpdbox

"who can sell SO deeply", not "do deeply", dammit.

Ignatz

--Posted by: NK | June 11, 2012 at 11:37 AM--

Point taken NK, but it just doesn't sound the same;
All hail Pharaoh Ramses,
all hail Augustus Caesar,
all hail Pauly Peanuts?

NK

hrtshpdbox-- who knows, but hey, maybe Goldman makes money the oldfashioned way-- they steal it. it doesn't take perfect information to 'advise' clients to go long on the Dollar, collect the fees from those client trades, and simultaneously use Goldman proprietary funds to short the Dollar against the short term bump the Goldman Long call helped create. In that way Goldman winsn two ways, the fees and the short profits, all manufactured-- in part by Goldman's Long call, and all at Goldman client expense. Too cynical? they wouldn't really do that to their own muppets?... would they?

NK

Ig-- Paulie will tell you KING Krugman has a certain ring! Or Prince Paulie anyway...

Melinda Romanoff

hrtshpdbox & PL-

If GS is touting being long commods, it means they're already on the other side of the trade.

NK

MelR@12:25-- thanks for the information. I guess we should all be that cynical about the GS. And they earn the fees too!!... It's just like Randolph and Mortimer Duke!!

hrtshpdbox

NK, the advising (sweet-taking, arm-twisting) that Goldman perpetrated on clients would net them some good commissions; that's the type of theft that is defined as "a brokerage company". But, even if they had (in your example) some long-dollar positions they wanted to rid themselves of, or a desire to institute a new short-dollar position, they'd enjoy only the merest bump in price from their cajoled clients long orders (while very much piquing the interest of CFTC regulators who'd wonder why the firm was on the other side of all those client orders). The dollar is a huge market, and it takes a lot of firepower to move it artificially (unlike when a news event occurs, which can move it a long ways on virtually no volume, an in a vacuum).

NK

hrtshpdbox-- I was serious about 'who knows', because I don't have the foggiest how GS works with clients for and against markets. But, I doubt you can be too cynical about GS's trading 'ethics'.

NK

CFTC-- those would be the same regulators who watched the MF customer accounts at CME 'vaporize.' OK, got it.

Melinda Romanoff

NK-

--who watched the GS trained executives use customer money with impunity, let JPM seize the 3-party repo with no clawback clause, and misled the CME about its books, thereby giving the CFTC a fog to look into at the beginning.--- FTFY.

Compliance train doesn't start with the CFTC, it ends there.

NK

MelR-- thanks for the further CFTC details; I've suspected since last November when the bankruptcy details started coming out that JPM may have taken the MF customer deposits 'legally' because there was no claw backclause. We may learn that as far as JPM is concerned, they legally vaporized the customer deposits which were collateralized for JPM loans to cover MF sovereign debt trading losses during the summer 2011. That said-- Corzine and the whole MF crew have got to go to FCI Danbury, Otisville, Pekin or Milan AT LEAST for SarBox violations, if not outright fraud.

Rick Ballard

NK,

Think spring for Don Corzione. We don't need to see Obama enriched by a pardon sale in January. If no charges are filed until spring, no pardon can be sold.

Chubby

Drudge is linking to a Washington Times article about big Obama supporter Penny Pritzer getting a sweet deal, while depositers from her failed bank have still not received their money. Oh, and she is getting into the banking business again. The story suggests that no one should be able to buy a bank if their last bank has failed and left depositers high and dry.

I cannot wait until Romney is president.

Melinda Romanoff

PL-

There's more "there" there. It ain't the first bank under Fitz's rug.

Chubby

The outstanding deposits not paid back yet amount $10 million. Her personal fortune amounts to way more than that. The depositers are middle class people who have lost amounts like $70K, they are not rich. If Pritzer had a modicum of integrity she would pay the depositers back out of her own pocket, she apparently has more than enough to do that. But integrity is not what it's all about, eh?

NK

RickB/MelR-- when 'Bam loses, the pardon line will be fascinating/disgusting to watch. No one went to prison for Holder manipulating the sale of the Rich pardon by Slick Willie. I fear that the Once's pardon sale will make Willie look like a piker-- pardon will be sold to the Chicago Gang, Corzine, dirty Russia deals, Fannie deals etc etc. It will stink to High Heaven.

NK

Back On Topic-- an Oldie but Goodie, from the libertarians-- Euro Sovereign Debt (the clip is about Greece) Bailouts explained-- this time by a hot Brit Chick with designer eyewear: http://www.youtube.com/watch?v=aKpE0HqJtow&feature=player_embedded

Jack is Back

Take away line from NK's 2:01 Xnormal movie:

"European's like bad ideas that sound nice".

/nutshell philosophy

Annoying Old Guy
The big challenge in the next decade is going to be to drive this point home against those like Dr K who will say that the Keynesian solution was never tried.

Technically Krugman is correct. Keynesian solutions have not been tried because in practice they are unimplementable in a democracy. Real Keynesian solutions require cutting government spending in boom times. That hasn't happened and is never going to happen. That's the fatal flaw that Krugman won't acknowledge.

In that sense it is like Communism, which might work unless people act as people have done since the start of recorded history. It's always those little things ...

jimmyk

If no charges are filed until spring, no pardon can be sold.

Richard Nixon and Gerald Ford might disagree.

jimmyk

Keynesian solutions have not been tried because in practice they are unimplementable in a democracy.

Perhaps not in their purest form, but there's enough evidence for those willing to be swayed by it. True believers are not.

For example, there have been studies looking at economic performance of different countries coming out of the Great Recession, stacked up against the scale of their "stimuli," showing basically no relation. But true believers can make up whatever counterfactual they need to generate the desired impact.

Ignatz

Annoying Old Guy makes a good point however.
Keynesianism was not inevitably a government bloating doctrine were it followed as its theory states. It still wouldn't work but at least it wouldn't necessarily be the engine by which leviathan devours us.

Of course the motivations behind economic theories which are never followed are fairly suspect in the first place; see 'marxism'.

NK

Ig/AOG-- are right -- Lord Keynes' theories were predicated on a creditor OR at least no debt nation temporarily going into debt to prime the pump, and then using surpluses once growth returned to pay off the TEMPORARY debt. Now Lord Keynes was either naive or sinister to fail to comprehend that democrartic governments would eventually abuse the debt card and perpetually layer on debt to give voters what they want NOW. AOG and Ig rightly point out that while the Keynesian tempoary debt theory is workable, the theory flies in the face of proven human nature and history. We all know that now-- except Krugman.

lyle

Too bad JMK wasn't around long enough to answer Milton Friedman's question, "Who are these angels?" Francis Fox Piven sure as hell couldn't.

pagar

We have a winner.

"The stock is up 25% since our post, and roughly 48,586,180,011% annualized based on today's action alone"

http://www.zerohedge.com/news/european-collapse-hedge-return-25-one-day-48586180011-annualized

Ignatz

LOL, pagar.
For those who didn't go to the link it's about a company which makes the paper on which bank notes are printed.

pagar

Ignatz, if Obama had found out about it, all the employees would have been counted as green workers.

Melinda Romanoff

Ig-

They made a "Material Change" report on Friday, under Rule 198, the Ontarian equivalent to SarBox. It is a very big story, IMO.

NK

Is that the London currency printer? They don't print Dollars, but they do print just about every other currency-- which one placed an order?

narciso

Possibly, Captain, but the same quotes appeared in my fishwrap yesterday, I know friends don't let friends, read McClatchy,
Since Jeb did beat them, twice, there is a highrate rage virus among the Dems, for the FCAT, losing Florida, et al.

Melinda Romanoff

NK-

Swiss. And no one knows who "re-instated" the order.

Melinda Romanoff

And a wholly owned subsidiary of Fortress Paper (FTP-Toronto).

Jim Rhoads a/k/a vjnjagvet

Obama's education and experience is entirely devoid of business or economic matters. I think I have some understanding of these blind spots because until I was in my mid thirties, I had them too.

My college major was government with minors in history, English, German and music. This was a widely recommended path to law school at the time. I had zero courses in anything to do with business. In law school, it didn't get much better, although I did have two income tax courses and one called "Free Enterprise and Economic Organization" which was a study of anti-trust and public utility law when railroads and air lines were considered public utilities. I also had two courses in labor law, the area I wanted to practice.

But until I started my own business, a law firm, in 1973, I was a fiscal neophyte. I didn't know the difference between the bull shi**ers and those who knew what they were talking about regarding economic matters. Slowly, as a matter of survival, I learned. In 1982, together with some partners, I bought a small manufacturing business in a dying industry. My learning process rapidly continued with the decline and final disintegration of that business which resulted in multi-million dollar judgments against me personally. Working my way out of that hole increased my business savvy, and for the next fifteen plus years, I was able to advise, counsel and defend a number of entrepreneurs whose businesses went south. During that time, I encountered a number of venture capital and turnaround firms. The ones who knew what they were doing were able to rapidly orient themselves about the subject's industry, its business, and its strengths and weaknesses. In many instances, the problem was staffing (too much) and management (wrong people in place). In those cases, it was necessary to move quickly and decisively to stop the bleeding, and the successful turnaround firms did that.

None of Obama's folks understand this because it runs against their ideology, but more importantly, because there is no one in their inner circle who was exposed to the realities of private enterprise. For Romney, of course, turnarounds are second nature.

AliceH

Gosh, Jim that was interesting and insightful.

I'd just add that in addition to lack of exposure/experience with business, Obama's folks also display an outright contempt for it and the people who choose a business career, with an extra dollop of disdain for those who are actually successful.

Clarice

While I cannot reveal sources, I know that lack of knowledge of business affairs is why Obama never was offered a position at the firm he clerked for. And he never learned it any where later.

narciso

Obama evinces no understanding of any subject,
to any extent, except left wing tropes, and Alinsky power relationships, there is the occasional reference to Urdu poetry, no one asks him which, and misreading TS Eliot.

Chubby

((Romney, of course, turnarounds are second nature.
))

it will be fascinating to watch him apply to his skills as president. I don't think he's running for president to get perqs, money and prestige. I think he's champing at the bit to roll up his sleeves and get to work doing what he loves, which is turning things around, and he is good at it.

it's about time for some real growth and progress. I love Romney's optimism, as opposed to Obama's negativity,

Rick Ballard

President Romney will not have the latitude enjoyed by a private CEO regarding termination of programs or employees. He is going to have to work very closely with the Speaker, the Majority Leader and the whips in formulating a turn around plan and he does not have the Constitutional power to impose a "tie-breaker" decision.

I respect what he accomplished in the private arena. His accomplishments in public service are another matter. I'm quite ready to applaud when he earns applause but I ain't ready to start clapping quite yet.

OTOH - he could slip into a permanent coma the day after inauguration and still outperform Obama.

Chubby

((President Romney will not have the latitude enjoyed by a private CEO regarding termination of programs or employees. ))

His past experience as governor, mistakes as well as successes, plus dealing with the complex ins and outs of the Olympics, will do him in very good stead, imo.

East Bay Jay

After a few years of austerity what always happens? Cannibalism. Slash government and you'll get your face eaten.

Has Obama got a slogan yet?

Jim Rhoads a/k/a vjnjagvet

Rick is right, of course. A turnaround company has the $$, and the golden rule applies -- he that has the gold makes the rules. Not so with Government. Harry Truman's bon mot to Ike comes to mind:

“He’ll sit here, and he’ll say, ‘Do this! Do that!’ And nothing will happen. Poor Ike—it won’t be a bit like the Army. He’ll find it very frustrating.”

If Romney is elected, the House will be Republican with a very substantial majority, and the Senate will more likely than not be Republican. That will allow a motivated president to work with a cooperative congressional leadership to fashion a turnaround strategy that can be executed. I think based on his performance of late, Romney is motivated.

centralcal

I respect what he accomplished in the private arena. His accomplishments in public service are another matter. I'm quite ready to applaud when he earns applause but I ain't ready to start clapping quite yet.

Well said, Rick. That is exactly how I feel. The Leavitt business (supposed head of transition team and a health mandate fan) has me concerned, I have to say.

narciso

That sounds like one of those horrible direct TV commercials don't it, which goes yadda yadda, to some calamitous outcome.

MarkO

Romney owes a favor to Leavitt for stealing the Olympics from him. This settles up.

narciso

N ow there is a learning opportunity, the late Cap Weinberger, was the Al Dunlop of the California HEW department, and he turned out
to be the more vigilant hawk, it depends what one has learned from the experience.

Rick Ballard

Jim Rhoads,

The tenor of the remarks made by Walker and Ryan last week was iron clothed in velvet. I doubt whether Governor Romney missed the point. The down ticket results are going to drive the spring legislative agenda. If Boehner gets another 20-30 Tea Party adherents in the House, the Ryan Roadmap is going to have some curves turned into straightaways.

Clarice

Romney can turn it around. He has to copy Walker's style. Say what you're going to do and why and then stick with it.Keep hitting the voters with the plan until enough get it to support it. Remember half the country (and presumably half the voters have IQs under 100.)

narciso

I had the misfortune of having to be in a captive location to the CNN feed, and they were equating Obama's true feelings to a ellision, of Romney's remarks re Wisconsin, a both gaffes.

mockmook

Clarice, If Romney actually works at rallying the country around an agenda, it will be a first in my lifetime--Reagan did it early, then faded.

narciso

No, actually he was making progress, and then the likes of this weasel, came out of the woodwork, sort of the Paul O'Neil of that administration;


Stockman's influence within the Reagan Administration decreased after the Atlantic Monthly magazine published the famous 18,246 word article, "The Education of David Stockman",[6] in its December 1981 issue, based on lengthy interviews Stockman gave to reporter William Greider. The White House's public relations team thereafter attempted to limit the article's damage to Reagan's perceived fiscal-leadership skills. Stockman was quoted as referring to Reagan's tax act as: "I mean, Kemp-Roth [Reagan's 1981 tax cut] was always a Trojan horse to bring down the top rate.... It's kind of hard to sell 'trickle down.' So the supply-side formula was the only way to get a tax policy that was really 'trickle down.' Supply-side is 'trickle-down' theory." Of the budget process during his first year on the job, Mr. Stockman is quoted as saying: "None of us really understands what's going on with all these numbers," which was used as the subtitle of the article.

Clarice

Fla.'s Gov Scott sued DHS on the voter purge today--suit is in DC federal Ct.

Rick Ballard

mockmook,

Reagan never had a GOP House. The GOP also lost the Senate in '86. President Romney is going to be the first Republican President since Eisenhower ('52-'54) to have both houses behind him.

narciso

In 2001, right after the passage of the tax cut, came the Jeffords kabuki, similarly to
the Stockman mea culpa, which echoed down to
the midterm elections, where the likes of Moyers, back then demagogued the miniscule
cutbacks that had been imposed, then came
TEFRA, another bad deal.

Ignatz

--President Romney is going to be the first Republican President since Eisenhower ('52-'54) to have both houses behind him.--

?

Ignatz

Rick, what about the 108th and 109th congresses?

Rick Ballard

Ignatz,

Yeah - Bush had solid majorities from 2002-2006. Minor program malfunction in the processing unit.

Jane

His past experience as governor, mistakes as well as successes, plus dealing with the complex ins and outs of the Olympics, will do him in very good stead, imo.

The thing I am most worried about is Romney's faith in people. The complaint about him as governor (from the republicans who served in the legislature) is he didn't dig down deep enough. e.g. He'd change who ran the EPA but leave all the corrupt underlings in place. Now if he names the right guy to head it, maybe it's their job to get rid of the progressives running the show, but it didn't work out that way. Hopefully he has learned his lesson.

Melinda Romanoff

mockmock-

Reagan did it early (way before the primary season, if anyone recalls) and then the MFM strangled the baby in its crib after delivery.

Ignatz

--Minor program malfunction in the processing unit.-

Yeah, I've got one of those too Rick, but it's major, although I am looking to graduate to full bird colonel as I get a little longer in the tooth.

Melinda Romanoff

Rick-

Just a case of lottyoungstephensitis, nothing new. All it took was the Ryan technique in earmarkectomy and the patient started to understand the obesity issue before him.

Lifestyle changes make for difficult passages.

Clarice

"Minor program malfunction in the processing unit."
Heck, Rick , don't complain. You can still apparently tell left from the other left.

kate

A person who embraces ASL as their primary language will be considered a member of the deaf community. I find many deaf boys and girls on a Deaf dating site ---DeafMatching,com---
Good luck to them!!!

Beasts of England

He won a Nobel Prize thingy, for Heaven's sake! Case closed. There's no arguing with authority such as his!

Don't make me call Maureen Dowd...

Neo

Remember this is not any ordinary leak. This is as she (Senator Diane Feinstein) says putting American foreign policy and American lives in jeopardy. The New York Times’ review of Mr. (David) Sanger’s book by Thomas Ricks who is a one of the Pulitzer Prize winners of the Wall Street Journal and Washington Post defense experts. In his review in the New York Times he says, “And throughout Mr. Sanger has clearly enjoyed great access to senior White House officials most notably Tom Donilon. Mr. Donilon is effect the hero of the book in fact the chief commentator and records of events.” It’s all about this stuff. When Gates, when we had the disclosure of SEAL Team 6, Robert Gates went to the White House and told Tom Donilon, “I have a new communication strategy, you know what it is? Keep your effing mouth shut.” Tom Donilon is known for this. He is a political operative.

Neo

In a perfect example of "what goes around comes around" ...

A coalition of environmental justice and civil rights activists has filed a complaint alleging that cap-and-trade provisions in California's pioneering program to reduce greenhouse gas emissions discriminate against people of color.

The groups, which represent minority communities, accused the California Air Resources Board of violating the Civil Rights Act of 1964 when it agreed to allow polluters in low-income areas to use carbon offsets to buy their way out of pollution reduction under the state's global warming reduction plan.

lyle

When identity politics collide, Neo. I love it.

Beasts of England

'I'd just add that in addition to lack of exposure/experience with business, Obama's folks also display an outright contempt for it and the people who choose a business career, with an extra dollop of disdain for those who are actually successful.'

Posted by: AliceH | June 11, 2012 at 05:58 PM

That about covers it...

jorod

Borrowing lots of money for nonproductive purposes usually means bankruptcy.

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