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October 03, 2011

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Danube of Thought

How 'bout them Yanks?

Minus 22 at Raz today.

MarkO

What would we do without Krugman? Oh, my.

narciso

The thing is TM, you take Krugman seriously, much like Mead did with his review of Friedman, as we see with Susskind's portrait
of Obama-era economic policy, that's a bad call.

Tom Maguire

How 'bout them Yanks?

Minus 22 at Raz today.

The Yanks will be at minus 33 if Verlander works his will on them today.

MarkO

So what? My 1961 Yankees are still winning.

Rick Ballard

Krugman, Obama, Chu - Curly, Moe and Larry

Credentialed princes of the moronacracy.

jimmyk

True, Rick, only without the comedic talent of the stooges.

narciso

Well Blinder pinch hits for Krugman, to quote the esteemed economic analyst Mogatu 'Am I the only one here, not on crazy pills'

Benjamin Franklin

It's really Krugman vs. Maguire in the hyperbole Olympics. But, I digress; Yesterday I challenged Libertarians to rise with the few who have the temerity to call attention to the Scofflaws on Wall Street who confidently wander their Penthouses peering at the little people in Central Park. When will they be held accountable?

from Maguire's link;

"Ben Bernanke, the chairman of the Federal Reserve, said it clearly last week: unemployment is a “national crisis,” with so many workers now among the long-term unemployed that the economy is at risk of suffering long-run as well as short-run damage."

The Arab Spring began in Tunisia. It only gained worldwide attention, when violence made it coverable by the Media.

But, what issues inspired the revolution?

Food prices, high YOUTH unemployment, and corruption.

http://www.washingtonsblog.com/2011/02/leading-indicators-of-revolt-in-the-middle-east-and-northern-africa-corruption-unemployment-and-percentage-of-household-money-spent-on-food.html

Yes, the under 25 population bubble...

http://www.nytimes.com/2010/08/12/business/global/12youth.html

Manipulating Chinese currency? Isn't the goal of Quantitative Easing to keep the dollar from being too strong? But, the consequences from QE is higher food prices, Globally.

http://www.zerohedge.com/article/biggest-lie-finance-today


"As you can
see, interest rates have soared BOTH times the Fed implemented a new QE
program. On top of this, we now have direct evidence that the Fed’s policies
are
actually killing people... literally.

In case
you’ve missed it, food riots are spreading throughout the developing world
Already Tunisia, Algeria, Oman, and even Laos are experiencing riots and
protests due to soaring food prices.

As Abdolreza
Abbassian, chief economist at the UN’s Food and Agriculture Organization (FAO),
put it, “We are entering a danger
territory.”

Indeed,
these situations left people literally starving… AND dead from the riots."

I really don't understand the derision you folks dish out to the
people protesting the Bankster's impunity. Weren't the majority of you folks livid over the Bailouts? But, now you are ok with the aftermath, because Obama is POTUS? Really?

narciso

Where were they, when it mattered:


http://online.wsj.com/video/news-hub-palin-takes-on-bernanke-on-qe2/1A9CC1CA-19F9-400B-AFCE-B8C9781C239E.html

NK

Tom, Rick B and Jimmy K I agree with all of you. Can Krugman really be this stupid? to demonstrably contradict himself? I really don't know; personally I think his wife or grad students write his NY Times columns. Bush and Krugman 2011 were both right that the costs to the US of a manipulated Yuan outweight the 'benefit' of the PRC buying US T bills. Trade does not meaning the US has to be a victim of currency manipulation.

MarkO

Ben-Dana, you could stop here and save space:


"I really don't understand"

Gmax

The Yanks and Dana both do face plants. Its a very good day.

jack is Back!

Here is a list of the latest $4.7 billion in Federal loan guarantees for renewable energy projects. Had to get them under the fiscal year cap.

There is also a big list of Wind Energy projects that are part of the Recovery Act. I'll try to find that but its as bad as this one. I dare anyone to be able to find any "republican" bundlers in these groups or even those evil Koch brothers.

Ignatz

--I really don't understand the derision you folks dish out to the
people protesting the Bankster's impunity.--

For the same reason I'd heap derision on a group of Stalinists protesting neo Nazis; they're against the right thing for the wrong reasons and would be at least as bad had they the power.
It is Bernanke, who was reappointed by Barry and with Barry's support, not Citi or Chase who has given us QE I, II and possibly III which has driven the dollar down and commodities up.
I deride the moron protestors, not because they think the banks didn't deserve TARP and TALF and the rest of the handouts, but because they think they should have gotten them instead.
A pox on all the statists houses, be they the mercantilists or the socialists.

Benjamin Franklin

http://www.nakedcapitalism.com/2011/10/mark-provost-occupy-boston-–-day-one-and-other-occupywallstreet-updates.html

"Police efforts to contain OccupyWallStreet have had the opposite effect to what the officialdom no doubt assumed would happen: that the demonstrators would either become discouraged or become violent, which would make it easy to discredit them. Instead, the macing of a group of women last weekend, followed by the arrest of over 700 people on Brooklyn Bridge on Saturdy, has given the movement legitimacy and media attention. It was the lead item on the BBC website over the weekend.

Press efforts to diminish the potential of this effort are now shifting. The initial MSM responses tended to the patronizing, emphasizing the fact that the group was small, camped out on the periphery of Wall Street, and harmless (harmless = weak, particularly when pitted against the might of the plutocrats).

Now that the ranks of participants are growing and prominent individuals like Nobel Prize winner Joseph Stiglitz have stopped by to show support, the new tactic is to attribute the increased interest to gawking rather than solidarity. For instance, the Financial Times headline is “Fed up and curious swell anti-Wall Street ranks.” So in one neat sentence, that suggests there is a hard (and by implication, not large) core of protestors, joined by malcontents and sensation seekers along for the ride."

Benjamin Franklin

http://edmonton.ctv.ca/servlet/an/local/CTVNews/20110930/wall-street-occupation-inspires-canadian-protesters-111002/20111002/?hub=EdmontonHome

Sometimes the best gifts come in small, nondescript packages...

narciso

From the play, not meant to be spoken openly:

"It is a tale, Told by an idiot, full of sound and fury, Signifying nothing.

glasater

If its any comfort, Goldman Sachs is saying there will be no bonuses for their traders at year's end.

Rick Ballard

Glasater,

Did they mention whether there would be a Goldman-Sachs at year end?

narciso

Check the magic 8 ball, on that, Rick.

Charlie (Colorado)

I really don't understand the derision you folks dish out to the people protesting the Bankster's impunity.

I believe you.

Here are some possibilities to consider:

* we think many of them are parlour pinks who couldn't be doing this except they are getting support from Mom&Dad or a trust fund.

* those of us old enough to have been tear gassed instead of pepper sprayed remember how "meet the new boss, same as the old boss" was prescient and "don't get fooled again" a useful warning.

* we think they're just wrong, and we question whether hectomillionaires calling for beheadings of rich people are serious.

Benjamin Franklin

Chaco;

Is that also true of Tea Party protests, I mean, other than your
derisive 'parlor pinks'?

glasater

Did they mention whether there would be a Goldman-Sachs at year end?

That's a good question, Rick.

It could be that GS are like cockroaches who survive a nuclear blast.
I know that's harsh but...

Clarice

No GS bonuses? Less money for the Obama re-election campaign. Works for me.

pagar

"It was the lead item on the BBC website over the weekend."

The lead item on BBC is always what the Communist Party wants it to be.

Charlie (Colorado)

Is that also true of Tea Party protests, I mean, other than your derisive 'parlor pinks'?

Let's see:

"couldn't be doing this except they are getting support from Mom&Dad or a trust fund."

No, the TEA Partiers I've seen have been largely people with real jobs.

""meet the new boss, same as the old boss" was prescient and "don't get fooled again" a useful warning."

Yes, and the TEA party people will bear watching too. Sadly, every political movement has at least some number of people in the "want to run other people's lives" party.

"we think they're just wrong, and we question whether hectomillionaires calling for beheadings of rich people are serious."

No, a lot of us tend to agree with TEA Partiers, and I'm not aware of any TEA Party hectomillionaires calling for beheadings of anyone.

Good pickup on the derisive intent behind "parlour pinks".


glasater

Here's the link for Goldman contributions to Obama:

Support for Obama Among Goldman Sachs Employees Erodes

Clarice spotted that idea quickly but it is interesting in that Romney is getting more money out of GS employees than Obama.

Benjamin Franklin

Chaco;

My point was not as precise as you prefer. I assume, since there were no links, that these impressions you have of the Wall Street Occupiers are from a distance. I just wanted to make a link between the two movements to illustrate their basic similarity.

Charlie (Colorado)

I just wanted to make a link between the two movements to illustrate their basic similarity.

Oh, I understood that, I just don't buy it. Among other things, the Tea Parties got going without -- and continue largely without -- high profile Mad Av PR firm.

Benjamin Franklin

Well, pro-bono may not mean what I want it to mean. But, then there's this...

http://www.nytimes.com/2010/08/29/opinion/29rich.html

Benjamin Franklin


HectoBillionaires, by the bushel.

http://www.usnews.com/opinion/blogs/Peter-Fenn/2011/02/02/tea-party-funding-koch-brothers-emerge-from-anonymity

http://www.npr.org/templates/story/story.php?storyId=123859296

http://www.guardian.co.uk/commentisfree/cifamerica/2010/oct/25/tea-party-koch-brothers

pagar

May God bless every single American (rich or poor) who stands willing to aid the Tea Party in their attempt to override the endless leftist propaganda of leftist funds like the Joyce Foundation, the Tides foundation and the millions of other leftist foundations, that have destroyed so much of this once great nation.

Benjamin Franklin

Joyce Foundation;

http://en.wikipedia.org/wiki/Joyce_Foundation

Education: Focuses on public schools in Chicago, Cleveland, and Milwaukee; concentrates on teacher quality, early childhood education, and “innovations,” primarily charter schools, small schools, and similar initiatives.
Employment: Focuses on workforce development, education, and job training for low-income workers..
Environment: Concentrates on environmental issues affecting the Great Lakes region, especially water and energy issues.
Gun violence: Funds research and advocacy to restrict gun ownership. This includes support of anti-gun groups[1].
Money and politics: Supports research and advocacy around such issues as campaign finance and ethics reform.
Culture: Supports arts organizations, primarily in Chicago; its Joyce Awards also supports arts groups in other Midwest cities.
The Joyce Foundation funds policy-related research in its program areas.
In 2005, the Joyce Foundation paid grants in the amount of $8,385,304 in its Environment program, $7,888,380 in its Education program, $6,302,775 in its Employment program, $3,056,117 in its Gun Violence Program, $2,818,105 in its Money and Politics program, and $1,427,350 in its Culture program. Source: The Joyce Foundation 2005 Annual Report, Page 45
[edit]History

The Joyce Foundation was created in 1948 by Beatrice Joyce Kean of Chicago[2], giving small grants mostly to hospitals and other health organizations. After her death in 1972 it inherited the bulk of her estate, growing in annual grant budget by two orders of magnitude and expanding its scope to cover educational and cultural institutions and by 1980 a wide variety of other concerns.
[edit]Mission statement

“ The Joyce Foundation supports efforts to protect the natural environment of the Great Lakes, to reduce poverty and violence in the region, and to ensure that its people have access to good schools, decent jobs, and a diverse and thriving culture. We are especially interested in improving public policies, because public systems such as education and welfare directly affect the lives of so many people, and because public policies help shape private sector decisions about jobs, the environment, and the health of our communities. To ensure that public policies truly reflect public rather than private interests, we support efforts to reform the system of financing election campaigns.[3] ”

[edit]

Jane

I want my money! I founded a tea party and paid for it myself. I've been duped. Give me my billions!!!!!

pagar

http://theobamafile.com/_associates/JoyceFoundation.htm

"Obama served as a director of the Joyce Foundation. While on the Joyce Foundation board, Obama funneled tens of millions of dollars to radical gun control organizations such as the Illinois Council Against Handgun Violence and the Violence Policy Center."

http://www.examiner.com/orange-county-conservative-in-orlando/scandal-obama-gore-goldman-joyce-foundation-ccx-partners-to-fleece-usa

IMO, not one penny from the Joyce Foundation goes to make America a better place to live. Every penny they put out goes the leftist side of any project.

Benjamin Franklin

Jane gets her Billions for pure snark, but must relinquish that same money for lacking substance.

Danube of Thought

Breitbardt has pics of Barry with the New Black Panthers in 2007. I've tried to post a link twice but failed. His article with pics is at Big Government.

Clarice

Yes, I sent it to the post in a comment, DoT, suggesting they might want to use it given the Nrock story is going nowhere.

pagar

"Breitbardt has pics of Barry with the New Black Panthers in 2007"

The code of silence has been broken. 5 years to get photos out of an event that should have stopped the Obama campaign cold.
Amazing that bad news gets out immediately about every thing unless it has to do with Obama.

Benjamin Franklin

"The code of silence has been broken. 5 years to get photos out of an event that should have stopped the Obama campaign cold."

Obama has been very cooperative with his Handlers. Now, he is becoming a liability to the Status Quo.

Andrew_M_Garland

Imposing taxes (duties) on Americans who buy Chinese goods
10/03/11 - Carpe Diem by MJ Perry [edited]
=== ===
Congress has tried for years to force American consumers and businesses to pay higher prices for Chinese imports. Congress blames China for making its exports to the United States cheaper for Americans, and U.S. goods more expensive in China.
=== ===

The basic question: Do US companies exist to deliver inexpensive goods to consumers, or do consumers exist to buy expensive goods from US companies? Unfortunately, US companies do better at political lobbying than US consumers.

Also, The China Menace
08/01/03 - Econlog by Arnold Kling

Steven Pearlstein at the Washington Post [edited]:
=== ===
China is becoming a dominant player in the global economy and is causing major disruptions. Entire industries in the United States are being wiped out as production is shifted across the Pacific.
=== ===

But, Hugo Restall in The Wall Street Journal sees the real story:
=== ===
The hard-earned savings of the Chinese people could have been used to build globally competitive companies. China is instead throwing those savings into 100,000 state-owned ratholes so that Chinese workers can produce artificially cheap products for American consumers to enjoy.
=== ===

What explains China's amazing generosity toward the US? Even in China, it is politically easier to skim money from state directed industrial activity, than it is to impose direct taxes. Everyone is busy working, but they don't see their savings disappearing into the pockets of their politicians.

The same is true in the US, where it is easier to fund failing green enterprises like Solyndra and skim the money flow, than it is to raise taxes directly on the middle class. When the price of energy rises, it is not understood by the middle class to be a hidden tax on their incomes. The public blames business, not the politicians in government.

Sara (Pal2Pal)

I would have more sympathy with the protesters if when they are interviewed, they had a clue what they are there protesting.

Barbara_Lurking

Anybody seen this?

France Won't Rule Out Military Strike on Iran
France may consider a pre-emptive military strike on Iran to stop its march towards obtaining a nuclear weapon of mass destruction.
http://www.israelnationalnews.com/News/News.aspx/148371

Could someone give me the html to embed a link to an article under the article title?

Clarice

You don't need that in the new improved version of type pad, barbara..as you can see, just posting the url, automatically hyperlinks it.

Barbara_Lurking

Thanks, Clarice, but I wanted to hyperlink the article's title.

BTW, I thought of you last week when I brined and BBQed my first chicken in my smoker! YUM!

Ignatz

BL,
You do the < a href = " thing (without the spaces) and then after the URL type " > (without the spaces) and then you type in the title or whatever phrase you want and then close the tag with < / a > (without the spaces).

Barbara_Lurking

Thanks, Ignatz! I used to know this stuff, but haven't had to use it in a very long time.

Ignatz

De nada, Barbara.

Clarice

Glad the chicken was smoking, barbara.

Sara (Pal2Pal)

Good Grief… Occupy Wall Street Imbeciles Release 13 Demands Including “$20 Minimum Wage” and “Across the Board Debt Forgiveness For All”

Good grief.

sbw

Just how well did occupying work in Wisconsin?

Win the 11 p.m. news, lose the war.

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Wilson/Plame