Intermarkets' Privacy Policy

Donate to Ace of Spades HQ!

Recent Entries
Absent Friends
Bandersnatch 2024
GnuBreed 2024
Captain Hate 2023
moon_over_vermont 2023
westminsterdogshow 2023
Ann Wilson(Empire1) 2022
Dave In Texas 2022
Jesse in D.C. 2022
OregonMuse 2022
redc1c4 2021
Tami 2021
Chavez the Hugo 2020
Ibguy 2020
Rickl 2019
Joffen 2014
AoSHQ Writers Group
A site for members of the Horde to post their stories seeking beta readers, editing help, brainstorming, and story ideas. Also to share links to potential publishing outlets, writing help sites, and videos posting tips to get published. Contact OrangeEnt for info:
maildrop62 at proton dot me
Cutting The Cord And Email Security
Moron Meet-Ups

« Overnight Open Thread | Main | Top Headline Comments 10-15-2010 »
October 15, 2010

Financial Briefing: Slip Sliding Away

Wages are too high in the US, at least as a ratio of what we consume to what we produce. If we wish to regain our competitive edge, wages are going to have to drop. (I'd also abolish the minimum-wage if it were up to me. That's a guranteed way to stimulate hiring on the low-end, but of course Democrats will never allow it.) Pull quote:
I'm sure many of you are reading this and thinking that if anyone is forced to take a pay cut to rebalance the economy, surely it ought to be overpaid investment bankers, corporate executives and newspaper columnists. That's how things would work in a socialist paradise, but not in market economies, which are much better at producing efficiency than fairness.
And I think "fairness" is the wrong word to use anyway. Life is not (and never will be) "fair", at least in the sense that liberals understand it.

An "End the Fed" cabal beginning to form? If so, let me know: I'd love to join. I'm a fan of secret societies. Mysterious rituals, bloody oaths taken in the dead of night, arcane symbology, outlandish getups, code-words and secret handshakes.

Some inside baseball stuff on why the foreclosure mess happened and how it may play out (REMIC, REIT, and other scary acronyms abound, so move cautiously and wear your helmet at all times). Basically: federal regulation, as usual, had unanticipated and deleterious side-effects. Who knew? Some homeowners may find that no single entity actually owns their mortgage note because it has been transferred, sold, packaged and re-packaged and re-securitized so many times that the chain of ownership was broken. Someone may "own" the loan, but cannot actually produce full ownership-chain paperwork on it. This Washington/Wall Street fire-drill may be the next firecracker to blow up in Obama's face.

One of the founding members of the Legion of the Boned, New York, is on the hook for $200B in public-employee healthcare obligations. Pull quote:

“So far, the market doesn’t care,” said Edmund J. McMahon, the director of the Empire Center. “The market seems to assume, on the basis of nothing, that at some point all of these places are simply going to stop paying retiree health benefits.”
Many decisions are being made on the basis of nothing in this economy. It's what Hope and Change is all about! (As in, "I hope I can find some change in the couch cushions so I can afford to buy food.")

Krugman: "Government spending has not increased in the past two years! It's all lies!" Someone sane: "Au contraire, mon frère!"

Pure crazy-talk, that's all this is. begins to sound so plausible.... Perhaps the alien messages coming in through the fillings in my teeth are interfering with my thoughts. It's happened before, you know, until the doctors gave me tiny little capsules with alien-radio suppression nanobots in them. I swallow one capsule every day and the nanobots suppress the alien messages until their tiny little batteries run down. Nights are the worst. The aliens are big fans of the old Baretta television series, and insist on having long discussions with me on whether Rooster was a figment of Baretta's imagination. I insist that Rooster was simply a figment of Baretta's warped cop brain. No one ever spoke to Rooster but Baretta! They also say that Rooster was a pale (well, not pale, but you know what I mean) imitation of Starsky and Hutch's Huggy Bear, but that's a damned lie.

Currency crisis? You're soaking in it!

I thought my wallet felt a bit lighter this morning....

Ben Bernanke has set the world on fire. Pull quote:

Today the yield on commodities far outstrips the yield on US Treasuries. Holding gold would have yielded 34% in less than a year, holding a Treasury note would have yielded a nominal 1%. Likewise, holding wheat futures contract or storing wheat would have yielded 84% in less than one year.
To hell with gold, man! Gimme some of that sweet, sweet wheat! (Levity aside, skyrocketing food prices is not good news for developing countries....)

Washington, Wall Street, and the Banks: incest leads to retarded children. It's science.

There is no plan B.

"And on today's tour of the Acropolis, an exciting new feature for our tourist friends! You get to see Greek cops put a beat-down on striking public workers! Photographs will be available at the end of the tour for five Euro."

Via Insty: Unexpectedly! The MSM always seems to be taken aback by the lousy employment numbers. Week after week, month after month, the news always catches them by surprise. Credulous chumps or willing dupes? You make the call!

I pity da fool who don't buy gold!

Via fellow China-skeptic Jonah Goldberg at NRO comes this piece on why China's "economic miracle" is a fragile facade over some pretty rotten underpinnings. Pull quote:

The harsh reality is this: Japan got rich before it grew old, and China will grow old before it gets rich.
Mark Steyn has been saying this for years.

Like most great tragedies, this one has a fairly simple underlying moral: don't loan money to people who can't pay it back.

If you are pro-business and pro-growth, says the Chamber of Commerce, vote for...the Democrat? Well, if you depend heavily on government subsidies, protectionist trade policies, go-along-to-get-along local politics, and a crony-friendly tax regime, I guess that makes sense. The spice must flow!

More scary chart-fu. The Dollar is taking a dive just like that boxer Fat Paulie paid to lay down in the third round against Killer Kadugan last Thursday.

Does anyone else hear that high-pitched whining noise, or is it just me?

Ten cities that have just leapt to the top of the contenders to host the Ace of Spades Annual Hobo Hunt and Bar-B-Q! With bonus "wing the drifter" games for the kiddies! Sponsored by Val-U-Rite Vodka and Olde Tyme Peppered Hobo Jerky.

This is why "follow your dreams" is often really shitty advice. Remember, kids: It's not, "What do you want to do?". It's, "What are you able to do?"

Former (and maybe future) California Governor Moonbeam:

The conventional viewpoint says we need a jobs program and we need to cut welfare. Just the opposite! We need more welfare and fewer jobs. Jobs for every American is doomed to failure because of modern automation and production. We ought to recognize it and create an income-maintenance system so every single American has the dignity and the wherewithal for shelter, basic food, and medical care. I’m talking about welfare for all. Without it, you’re going to have warfare for all. Without a universal health care like every other civilized country, without a minimum level of income, this country will explode. You can’t blame the guy at the bottom forever. At some point there’s a reaction and we’ll see that the real criminals are those calling the tune, making the rules, and walking to the bank.
Alas, California; poor boned, broke, doomed California. If you vote this dumbass into office, you deserve every ohm and erg of the screwing you're going to get. Roger L. Simon has some additional thoughts.


Oh God only knows, God makes his plan
The information's unavailable to the mortal man
We're workin' our jobs, collect our pay
Believe we're gliding down the highway, when in fact we're slip sliding away

digg this
posted by Monty at 07:12 AM

| Access Comments

Recent Comments
The Button Down Mind: "Bob Newhart is, was, and forevermore shall be, the ..."

80's music fan: "Tell us you have never met a democrat without tell ..."

LinusVanPelt : "Joe Biden: Is it live or is it memorex?? ..."

BruceWayne: "I love ya kid. Things Joe has never said to Kamala ..."

TheJamesMadison, riding the anarchy train with John Landis: "454 Boy the "chaotic" "out of control" Democrat pa ..."

no one of any consequence: "Last time I checked, and it was about 40 years ago ..."

...: "Over under on when we see the first Che style Kama ..."

Minnfidel: "I love ya kid. Things Joe has never said to Kamala ..."

runner: "BREAKING 🚨 The Whitehouse Gets Caught Usin ..."

SMOD: "First Lady Paris-Bound for Olympics to Lead Americ ..."

Warai-otoko : "Endorse is one of those words that loses its meani ..."

...: "Boy the "chaotic" "out of control" Democrat party ..."

Recent Entries

Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64