Archive for March 24th, 2010

101 Wahabis

Wednesday, March 24th, 2010

Saudi Arabia rounds up another terror cell!

But the export of extremist Islam from the Kingdom goes on, so it’s difficult to know what to make of these terrorist cattle drives.

One hopes we’ll recognize that terrorism per se is a very minor threat to the United States, alas we’ll probably say it justifies all the AWACs the Saudis can eat.

Interestingly, the targets this time appear to be the Saudi oil fields.

Such an attack might get the US and other Western countries to come to their senses about dependence on unstable regimes for fossil fuels.

More likely, it would be a boon to the global armaments industry and another easy excuse for non-engagement in the Israel-Palestinian “peace process”.

Gorilla says: “Cruella still drives a low mileage deVille!”

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Anemia In America

Wednesday, March 24th, 2010

New home sales continue to fall!

Durable orders are rising!

What does it mean?

The housing market still has not hit bottom, and government support efforts for housing prices have been a total failure. Without a housing recovery, it’s difficult to see how the economy really grows. The announcement by Bank Of America that it may write down mortgage principal could help, but allowing bankruptcy court judges to do the same would help a good deal more.

Durable goods orders are essentially replacing depleted inventory. There is no evidence, outside of export markets, that there is any sustainable demand, from either consumers or businesses.

Gorilla says: “Going nowhere less hastily is still going nowhere!”

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Less Porto In A Storm

Wednesday, March 24th, 2010

Portugal: downgraded!

Does it matter?

No, because the ratings agencies themselves are not worth a moment’s attention. They are riddled with conflicts of interest and helped contribute to both the housing and financial meltdowns that are plaguing the globe.

Yes, because Euroland is again exposed as an unworkable monetary union. Portugal can’t devalue its way out, while the Germans will neither finance nor consume their way out.

Eventually, a deal will be struck, because Spain and Italy, both far larger economies, are also on the brink and will need massive amounts of financing if the debt markets don’t cooperate.

Gorilla thinks: “The end of the escudo is crudo!”

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It’s Only About Money

Wednesday, March 24th, 2010

Google: sort of censoring, sort of not!

Google’s not a paragon of free speech, it’s not a bastion of democracy, it’s simply a business that can no longer make a buck in China unless it dances to Beijing’s tune…

Most of the other multinationals in China understand this formula. They don’t care a whit for human rights in China or anywhere else they operate. What they do care about is the bottom line, and so long as that’s humming along, why be good?

Gorilla says: “When greed is what counts, nothing much else does!”

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