Archive for August, 2010

The Secret (Iraq) Speech

Tuesday, August 31st, 2010

Not the one we’ll hear, of course, but Gorilla has a go…

“My fellow Americans, my predecessor lied to you and got this country stuck in a pointless war in Iraq that has killed hundreds of thousands.

There were no weapons of mass destruction in Iraq and there were no terrorists in Iraq until we invaded.

We’re not actually leaving, because there’s just too much oil to be had.

So, we’ll keep pretending Iraq will become like South Korea, except we know it won’t because the Shiites and Sunnis will resume their civil war.

Hopefully, we’ll be long gone by 2012 and I’ll be reelected, although that’s anybody’s guess so long as I continue to do nothing about unemployment.

I’d also like to talk to you about ending the pointless war in Afghanistan, but I think you’re depressed enough.

Good night and God bless America.”

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And These Are Our Allies

Tuesday, August 31st, 2010

Why is that the security services of supposed democracies believe they must have access to everyone’s data as a condition of doing business in their country?

Hello Blackberry, hello Google, hello Skype: Welcome to India!

The problem for all these companies is that they’ve more or less reached saturation point in Western economies, so they’ve got to go elsewhere in order to keep growing.

It’s at that point we find out which is more important to them: the bottom line or their customers’ rights and freedoms.

Gorilla says: “No encryption necessary: they’ll take the money and sell out their clients every time!”

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Shorter New Petraeus Rules

Tuesday, August 31st, 2010

We’ll undertake a more thoughtful transition to losing with fewer troops.

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Mr. Market Isn’t Happy

Tuesday, August 31st, 2010

Japan’s Central Bank will give it another go!

Too little, too little was the verdict on the latest round of efforts to stop yen appreciation.

What’s fascinating about all this is that Japan is at least trying to do something.

In the US, the Fed talks a lot but does very little to head off mass unemployment and the dangers of deflation.

Gorilla says: “There’s no reward for being less bold!”

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Thumbs Up From The Thug

Monday, August 30th, 2010

Yes, the KGBeast will be running for President of Russia in 2012!!!

“It interests me as much as … I was going to say ‘as much as anyone’, but really more than everyone else!” he quipped. “But I am not making a fetish out of it!”

Having more or less outlawed freedom of assembly, murdered his political opponents and irritating investigative journalists, and installed his very own Mini Me as the current President, what worlds are left to conquer?

Gorilla answers: “Only the civilized ones, where he’s still persona non grata!”

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How Not To Climate Change

Monday, August 30th, 2010

Well, the science is fine, global warming and climate change are indeed real, but the UN’s Intergovernment Panel On Climate Change screwed up a little and needs reform!!!

And it’s this sort of very minor, very unimportant set of recommendations by an international body (remember: the Know Nothing Party thinks the UN is part of a vast conspiracy to promote socialism and one world government) that will keep the US (and by implication China and India) from ever getting serious about changing our environmental policy.

When you have to mortgage the political farm to get anything through the Congress, what are the chances now?

Gorilla answers: “Less than zero!”

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Assault Of The Earth

Monday, August 30th, 2010

The Chinese are, surprise, surprise!, restricting rare earth metal exports and favoring sales to Chinese companies.

Not exactly a shock from a country that provides 97% of the world’s current supply.

And of course Beijing’s excuse is, wait for it!, a desire not to add to environmental destruction through more mining!

Meanwhile, the US, Japan, and other countries have to decide whether to start up their own rare earth mining and engage in the sort of stockpiling/retaliation schemes and WTO nose thumbing that is the hallmark of Chinese trade policy.

Gorilla says: “We’re all Chilean miners now!”

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Easing To The Bottom

Monday, August 30th, 2010

Japan’s central bank, unlike the US Fed, knows about deflation and economic growth, but still cannot bring itself to undertake more radical policies: we want to be tough on non-existent inflation, just in case it might exist!

In the US, the Fed could be raising the inflation target to 3-5%, rather than continue what’s been a decade of totally missing the forest for the trees.

Gorilla says: “Nothing like the stimulus of angry voters to make extend and pretend so comforting!”

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Shorter Glen Beck Rally

Saturday, August 28th, 2010

Triumph Of The Swill

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Helicopter Ben Hovers In Place

Friday, August 27th, 2010

Well, the Fed admits at last that things aren’t going as swimmingly as possible during Recovery Summer, and pledges to do more if more needs to be done.

Mostly, this will consist of buying more long-term Treasuries, but it might also consist of a more strongly worded statement about short-term rates staying low for a long time and a reduction in the interest rate the Fed pays on excess reserves.

What it won’t include is a raising of the inflation target, which the Fed has missed consistently on the downside for the past 2 years.

Central bankers around the world still seem petrified by non-existent inflation.

Helicopter Ben seems convinced that deflation isn’t a problem, but he also says that “central bankers alone can’t solve the world’s economic problems”.

Gorilla says: “Ben doesn’t think we’re Japan, but the jury’s still out!”

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