Archive for the 'Politics' Category

Austerity, GDP, Debt and Stimulus Multiples

Monday, November 7th, 2011

The common wisdom one hears these days is that we are in a hard spot because economic growth is stalling, but government debt is so high that resort to additional “stimulus” via government expenditure is unpalatable.   This is of course only wisdom to the extent that you believe that government expenditure is inn fact […]

Christina Romer Advocates a Naked Emperor

Monday, October 31st, 2011

Romer, who until a year ago was a failed architect of “President” Obummer’s failed economic policies, today wrote a hysterical piece in the New York Times which seeks to conflate image with reality.  In it she states the following: Mr. Bernanke needs to steal a page from the Volcker playbook. To forcefully tackle the unemployment […]

Consequences of Kerffufluous Tomfoolery

Tuesday, October 25th, 2011

Now that our crony-state-capitalist society has devolved to the point where the only people who suffer the ill consequences of bad decisions are the poor saps who are either too stupid or too impoverished to have bought protection from the perma-political class, one wonders when or whether there will be a backlash at some point […]

President Zero Enlists The World To Silence Critics

Tuesday, September 13th, 2011

As seen on Drudge.  The “President” has put up a new website at that presents “the facts” and enlists people to fight “smears” against the “President”.  And it is all done as slick as shiite and presented as if it were some third party group setting it up.  But in fact as the site […]

President 0

Thursday, September 8th, 2011

So I decided I had to watch “the Speech” tonight, the last great opportunity for Maobama to do something constructive, an opportunity to do something big and impactful like reforming the absurd tax code that costs tens of billions in compliance costs and causes corporations to pursue business abroad rather than at home, or to […]

Rick Perry? Really?

Wednesday, August 24th, 2011

Today, Gallup has released a poll showing Rick Perry in the lead with Republicans and right-leaners.  Now it is early yet so many people may not understand that Rick Perry is a populist, a guy who ran Al Gore’s Texas campaign in 1988.   This is a guy who, the week before he announced his candidacy, […]

Taxes, Debt, Wealth Disparity and Demunist Piffle

Monday, August 15th, 2011

Today there are multiple articles out about tax policy and the “President” is out talking about millionaires and billionaires again. This must be part of a coordinated effort to change public opinion in the wake of the Debt Ceiling battle and S&P downgrade. So lets tackle the biggest issue head-on. Maobama insisted during the debt […]

Blatant Self-Serving State Intervention Roils Markets

Thursday, June 23rd, 2011

Today the Department of Energy (DOE) in conjunction with the International Energy Agency decided it was going to release 30 Million barrels of oil from the Strategic Petroleum Reserve (SPR) – 1 million Barrels a day for 30 days.  According to the Energy Information Administration (a sub body of the DOE), we use about 18.77 […]

Demunists, Commocrats and Jobs

Friday, June 3rd, 2011

If it were not so sad it would be funny.  This is one of Dennis Gartman’s favorite sayings.  The reaction to the May Employment Report by those in Washington would be hilarious if it weren’t so serious.  The reaction of those brain-dead in Washington is “We have to craft better policies to get jobs going”.  […]

Have The Commodity Markets Just Felt The Lead Fist Of Government?

Wednesday, May 11th, 2011

It is passing strange that a week or so after the Obama administration declared it would be taking a tough line on speculation and shortly after the Fed was roundly abused for a lackluster performance in its 1st press conference and for not taking any responsibility for the run-up in commodities due to its outrageously […]

When Will Barney Frank Go Away?

Tuesday, May 3rd, 2011

Barney Frank is out again with his legislation that would strip regional Federal Reserve Bank Presidents of their right to vote on monetary policy. In other words they would presumably no longer sit on the Federal Open Market Committee. What a good idea! Then we can have only political appointees beholden to the morons in […]

Short Comment On Bernanke Presser

Wednesday, April 27th, 2011

What I missed in watching this farce was any sense that the Fed is going to fail in achieving the fulfillment of its mandate by virtue of the very policies it is pursuing. It reminds me of the oft-heard proverb that one often meets ones destiny on the road one takes to avoid it, something […]

Something Wicked This Way Comes

Wednesday, April 6th, 2011

Today I paid $4.15 to put some gas in the tank of my car. Ben Bernanke refuses to accept that the Fed has anything to do with commodity inflation and refuses to view it as anything other than “transitory” according to remarks on April 5th.  Before putting the lie to such nonsense, it will be […]


Wednesday, February 23rd, 2011

I love Wisconsin.  My favorite area is what is known as the Driftless Area, a strip about 30-50 miles wide running from Eau Claire down into Illinois that is free of the drumlins and moraines and erratic detritus of the glaciers that covered the northern states in the last glacial period which ended some 20,000 […]

Update on China: Unfortunate Personal Anecdote Involving President Hu

Thursday, January 20th, 2011

I left at 5PM this afternoon to take my daughter to her Tae Kwon Do class near downtown Chicago.  Strangely, there was a police cruiser blocking the entrance to the Kennedy Expressway, the only way to get to downtown Chicago in a reasonable amount of time.  I stopped by his car and asked him what […]

What the Hell is Wrong With Princeton? Why New Keynesianism is BS

Tuesday, November 9th, 2010

What do Ben Bernanke and Paul Krugman have in common, aside from the fact that they are both madmen?  They are both professors of economics at Princeton University.  Now I have a cousin who got his PhD in Physics from Princeton.  I hit Princeton on my college tour years ago.  It is a lovely place […]

Who Will Stop The Outrageous Zimbabwe Ben Bernanke?

Saturday, November 6th, 2010

While our Dear Leader, our erstwhile American Nero, left for India and Asia spending $200 Million per day on entertaining his Media Mogul friend and mouthpiece, CNBC owner and GE Chairman Jeff Immelt, in order to escape the unpleasantly painful aftermath of his face slapping in the mid-term elections, his putatively independent economic minion, Zimbabwe […]

Real Men Don’t Do QE

Thursday, September 30th, 2010

Unless you live under a rock, you must be aware that the Federal Reserve is now widely expected to engage in a strategy of expanded Quantitative Easing to fend off incipient deflation, or if you believe the Fed’s latest statement, even to get low inflation to be more in line with what the Monetary Policy […]

Real Questions for Obama

Wednesday, September 22nd, 2010

A couple of days ago, CNBC put on a town hall meeting with Obama, ostensibly to give him some tough questions from business people, but which was really a puff piece with not one serious question. It was apparently aired just to try to revive the flagging view people have of the “President”. Consensus review […]

Public Private Partnership – We Need Separation of Business and State

Tuesday, September 21st, 2010

I just watched Maria Bartiromo interview Jennifer Granholm, the Governor of Michigan. The topic of the interview was the great job Granholm was doing revitalizing the Michigan economy by partnering with automotive green energy companies, specifically those producing the batteries to be used in electric vehicles. After much blabber about access to capital, the desperate […]