Drudge Headlines of the Moment:
Q3 Productivity Revised Down To 2.3%...
Oil Jumps Above $101 a Barrel...
(Now wait for it... wait for it...)
Dow Soars 400 Points!
Is it me, folks...??? It's like being told by your doctor that except for the cancer that's on track to kill you before the year is out... well... you're in fine health!
Hmm... I wonder... might the following have "something" to do with the disconnect?
FED TO THE RESCUE...
Folks... we are so frigg'n screwed!
Hey... folks... did you read yesterday's newsbites - particularly the newsbites concerning how our illustrious Senators have finally crossed the Rubicon and officially voted to repeal the Constitution as it applies to our basic civil rights?
No...?!?! You're a day behind...??? Well get cracking! As you'll see if you bother to check out the newsbites in question... sadly I'm not really exaggerating.
I really don't know what to tell you, folks.
America has jumped the shark.
Q3 Productivity Revised Down To 2.3%...
Oil Jumps Above $101 a Barrel...
(Now wait for it... wait for it...)
Dow Soars 400 Points!
Is it me, folks...??? It's like being told by your doctor that except for the cancer that's on track to kill you before the year is out... well... you're in fine health!
Hmm... I wonder... might the following have "something" to do with the disconnect?
FED TO THE RESCUE...
Folks... we are so frigg'n screwed!
Hey... folks... did you read yesterday's newsbites - particularly the newsbites concerning how our illustrious Senators have finally crossed the Rubicon and officially voted to repeal the Constitution as it applies to our basic civil rights?
No...?!?! You're a day behind...??? Well get cracking! As you'll see if you bother to check out the newsbites in question... sadly I'm not really exaggerating.
I really don't know what to tell you, folks.
America has jumped the shark.
6 comments:
http://www.bloomberg.com/news/2011-11-30/fed-five-central-banks-lower-interest-rate-on-dollar-swaps.html
Six central banks led by the Federal Reserve lowered the cost of emergency dollar funding for financial companies in a global effort to ease Europe’s sovereign-debt crisis.
* SO ONCE AGAIN THE "ANSWER" TO UNSUSTAINABLE DEBT IS... er... umm... TO ADD EVEN MORE DEBT...???
The new interest rate is the dollar overnight index swap rate plus 50 basis points, a half percentage-point cut, and the program was extended by six months...
(*MIGRAINE HEADACHE*)
* SMALL WONDER THAT OIL SHOT UP OVER $101 THIS MORNING.
* HEY, FOLKS... GUESS WHO SUBSIDIZES THIS LARGESS VIA ACCEPTING HIGHER INFLATION WHILE THE CAN IS KICKED DOWN THE ROAD ONCE AGAIN WITH NOTHING BE SOLVED?!
U.S. and European stocks rallied on the move...
* OF COURSE THEY DID! IT'S ANOTHER BAILOUT...!!!
Stocks and the euro rallied after the announcement, while Treasuries fell.
* FOLKS... ASK YOURSELVES... DOES THAT SOUND LIKE IT'S GOOD FOR AMERICA...?!?!
The euro rose to $1.3466...
(*LOOKING FOR ENOUGH PILLS TO PUT ME OUT OF MY MISERY*)
When there’s concerted action by central banks, it’s definitely good,” said Jens Sondergaard, senior European economist at Nomura International Plc in London.
* GOOD FOR WHOM...?!?! GOOD FOR THE AVERAGE AMERICAN CITIZEN...?!?! I THINK NOT...!!!
Two hours before the Fed announcement, China cut the amount of cash that the nation’s banks must set aside as reserves for the first time since 2008.
* OH, JEEZ... (*MIGRAINE HEADACHE WORSENING*)
http://apnews.myway.com/article/20111130/D9RB1GAO3.html
European finance ministers failed to come up with a plan for European countries to spend within their means.
* REALLY, FOLKS... I COULD JUST LEAVE THIS NEWSBITE HERE - AS IS. THE ABOVE LINE PRETTY MUCH TELLS YOU THE WHOLE STORY.
The ministers delayed action on major financial issues - such as the concept of a closer fiscal union that would guarantee more budgetary discipline - until their bosses meet next week in Brussels.
(*ROLLING MY EYES*)
* FOLKS... A "CLOSER FISCAL UNION" IS THE LAST THING THESE MORONS NEED! IT'S THE "UNION" THAT'S THE PROBLEM!
At a meeting Tuesday night, finance ministers for the 17 countries that use the euro handed Greece a promised euro8 billion ($10.7 billion) rescue loan to fend off its immediate cash crisis and promised to increase the firepower of a fund to help bail out ailing eurozone countries.
* GREECE CAN'T AFFORD TO PAY BACK WHAT'S IT'S ALREADY BORROWED... SO... THE ANSWER IS TO LEND THEM MORE ON TOP OF WHAT THEY ALREADY OWE...?!?! THIS IS THE PLAN...?!?!
The ministers did agree to use the bailout fund to offer financial protection of 20%-30% to investors who buy new bonds from troubled eurozone nations.
* PRIVATIZED PROFITS... SOCIALIZED RISKS... (*SIGH*)... SOUND FAMILIAR, FOLKS?
* IN ANY CASE... (*SIGH*)... ONE MORE TIME...
European finance ministers failed to come up with a plan for European countries to spend within their means.
* THAT'S THE BOTTOM LINE.
* NEXT STOP... DIRECT IMF BAILOUTS - DIRECTLY SUBSIDIZED BY THE AMERICAN TAXPAYER!
http://online.wsj.com/article/SB10001424052970204449804577068083976709946.html
You have to admire the tenacity with which certain sectors of the economy cling to cheap credit and piling up debt.
(*SMIRK*) (*RUEFUL CHUCKLE*)
But is the serial exhaustion of bubbles finally working its way around to the jet aircraft business?
Eleven months ago, an Indian start-up carrier placed the biggest jet order in history with Airbus, for 180 jets, worth $16.2 billion.
* AND YET... (READ ON!)
This week almost the entire Indian airline industry appears to be teetering toward insolvency.
In July, American Airlines announced an even bigger order, worth a potential $38 billion, so big it had to be split between Airbus and Boeing.
* AND YET... (READ ON!)
This week, American filed for bankruptcy.
Two weeks ago, Boeing outdid itself with a new personal best: a $35 billion order from Lion Air, a decade-old carrier in Indonesia that's still trying to meet safety standards to join the International Air Transport Association.
* AND...
That sale superseded a giant deal a few days earlier to sell $26 billion in planes to Dubai's relentlessly growing Emirates Airlines.
(*JUST SHAKING MY HEAD*)
Paradoxically, the boom depends partly on high fuel prices.
High fuel prices are an incentive for airlines to trade in existing models for newer, more efficient planes. Yet here's the contradiction: High fuel prices, which ultimately have to be paid by passengers, also threaten the low-cost air travel upsurge that accounts for bulging order books.
* YEP!
The bubble also depends on cheap debt, and in many cases subsidized debt, which can lead to weird effects. IndiGo, the Indian start-up behind the whopping Airbus order, is said to be profitable only because it has been reselling planes and leasing them back.
* DEAR GOD - MAKE IT STOP! PLEASE... MAKE IT STOP...!!!
Further contributing to the bubble, new jets are outright subsidized by taxpayers, in both the selling countries (including the U.S.) and buying countries.
Take India, where traffic is surging nearly 20% per year. Planes are packed yet the industry still loses money. Why? One reason is state-owned, hopelessly inefficient Air India undercutting ticket prices with its fleet of brand-new planes subsidized by the U.S. Export-Import Bank.
(*SARCASTIC CLAP-CLAP-CLAP*)
http://online.wsj.com/article/SB10001424052970204012004577070353226404604.html?mod=WSJ_Opinion_MIDDLESecond
The American Bar Association has long been a darling of Democrats for its liberal leanings, not least of all on judicial nominees.
On coming to office, President Obama quickly restored the legal guild's role in pre-nomination vetting of potential federal judges, a role that had been suspended by the Bush administration. So it's a touch awkward that the organization is now finding itself singled out for criticism by the White House and its surrogates, who are complaining that the ABA's judicial vetting process is having a disparate impact on the Obama administration's roster of potential minority nominees.
(*SNICKER*)
Of the 185 nominees that the White House has sent to the ABA committee for vetting, 14 have been rated "not qualified," a rejection rate the New York Times calculated was three-and-a-half-times as high as under Bill Clinton or George W. Bush.
* ONE... MORE... TIME...
Of the 185 nominees that the White House has sent to the ABA committee for vetting, 14 have been rated "not qualified," a rejection rate the New York Times calculated was three-and-a-half-times as high as under Bill Clinton or George W. Bush.
(*JUST SHAKING MY HEAD*)
* FOLKS... (*SIGH*)... YOU JUST CAN'T MAKE THIS STUFF UP!
http://online.wsj.com/article/SB10001424052970203441704577068671221540462.html?mod=WSJ_hp_MIDDLENexttoWhatsNewsThird
* FILE UNDER: IRRESPONSIBLE, UNPRINCIPED DIRTBAGS
Republican leaders said Tuesday they would join Democrats in supporting an extension of the 2011 payroll-tax cut...
* BIPARTISANISM - AIN'T IT GREAT! SOCIAL SECURITY WENT UPSIDE DOWN LAST YEAR. FOR THE PAST TWO YEARS IT'S BEEN PAYING OUT MORE THAN IT'S BEEN TAKING IN. SO WHAT DO REPUBLICANS DO? THEY JOIN WITH DEMOCRATS TO ENSURE THE DEFICIT GAP REMAINS JUST WHERE IT IS! GREAT! WONDERFUL!
* DEMPUBLICANS AND REPUBLICRATS - THERE'S NO DIFFERENCE.
"I think it's a mistake to do this little tax and that little tax," said Sen. Jim DeMint (R., S.C.). "We need to reform our tax code if we're going to be competitive internationally."
Nonetheless...
* OH, JEEZ... HERE IT COMES!
...Mr. DeMint said he would support the extension because "I just don't think it's a good time to increase any taxes."
* THIS MARKS THE SECOND TIME IN TWO DAYS THAT DEMINT HAS DISAPPOINTED ME.
* FOLKS... I HATE TO SAY IT, BUT VIOLENCE IS THE ONLY ANSWER. THERE'S SIMPLY NO WAY THE POLITICIANS WILL REFORM THE SYSTEM. INSTEAD, THEY'LL DESTROY THE NATION IF WE DON'T STOP THEM. OBVIOUSLY THE DEMOCRATIC PROCESS IS INCAPABLE OF STOPPING THEM.
http://www.judicialwatch.org/blog/2011/nov/u-s-seals-court-records-border-patrol-s-murder
The Obama Administration has abruptly sealed court records containing alarming details of how Mexican drug smugglers murdered a U.S. Border patrol agent with a gun connected to a failed federal experiment that allowed firearms to be smuggled into Mexico.
(*PURSED LIPS*)
This means information will now be kept from the public as well as the media.
(*TAPPING MY FINGERS ON THE DESK*)
[T]he judge’s decision to seal it was also sealed, according to the news story.
* FOLKS... YA CAN'T MAKE THIS STUFF UP! THIS IS OBAMA'S AMERICA!
[This means that neither] the public [nor the] media [will] have access to any new or old evidence, filings, rulings or arguments.
* AGAIN, FOLKS... OBAMA'S AMERICA.
A number of high-ranking Border Patrol officials are questioning how the case is being handled. For instance, they wonder why the defendant (Manuel Osorio-Arellanes) hasn’t been tried even though it’s been almost a year since Terry’s murder. They also have concerns about the lack of transparency in the investigation, not to mention the recent sealing of the court case.
* I WISH THE AUTHOR HAD IDENTIFIED THESE OFFICIALS. (*SHRUG*)
In 2006 Osorio-Arellanes had been convicted in Phoenix of felony aggravated assault and in 2010 he was twice detained for being in the U.S. illegally.
Osorio-Arellanes is charged with second-degree murder. The four other drug smugglers fled the scene and their names were blacked out in the indictment.
During a Senate Judiciary Committee hearing this month to address the flawed gun-tracking program, Attorney General Eric Holder said it’s not fair to assume that mistakes in Operation Fast and Furious led to Terry’s death.
(*JUST SHAKING MY HEAD*)
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