Archive for February, 2011

Good Luck With That

Monday, February 28th, 2011

The Irish have changed governments, and the latest election winners promise they’ll be talking with France and Germany about renegotiating their loans from the EU!

Meanwhile, griding deflation goes on and unemployment continues rising.

Put simply, Ireland can’t grow its way out of this disaster unless they leave the Euro zone. French and German bankers, not to mention French and German politicians, are not about to let them off easily, so the game of extend and pretend will continue.

Gorilla says: “A landslide it may be, but it’s on top of a mudslide that isn’t ending!”

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Here They Go Again

Monday, February 28th, 2011

The banksters: financing cars!!!

It’s great to see some credit being extended to some people, but what it looks like mostly is the pursuit of more risk, in the belief that the government will bail the auto industry and its bankers out (again) when things go south (again)!

Gorilla says: “Hope the regulators have the blinders off!”

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47 Idiots, Always Wrong

Monday, February 28th, 2011

The National Association of Business Economists: an idiot’s brigade that can’t quite get the forecast right!

Three months ago, the number one problem for these dopes was inflation, now zipping along at 1.5% a year.

Bond prices they feared would collapse in a sea of rising interest rates? Haven’t budged at all. The world and his bondholder are happy to lend the US government all the money it needs at historically low rates of interest.

What’s their number one problem now? The deficit!!! Of course, if the US paid what everyone else in the world pays for healthcare, then we’d have surpluses as far as the eye can see.

What’s the actual number one problem? A lack of demand. It is this and this alone that is keeping 25 million Americans unemployed and hopeless.

Gorilla says: “Let’s put NABE out to sea and out of our misery!”

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The Best Fix Wins

Friday, February 25th, 2011

No surprise that Boeing won the tanker contract, it’s been clear since the uproar in Congress when EADS originally won that the Pentagon would bend over backwards to get the right result.

What’s less clear is why there’s a need for tankers at all.

Gorilla asks: “Whose air force are we currently fighting? Can’t we just fill her up locally?”

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Slowly Growing Even Slower

Friday, February 25th, 2011

Second estimate of Q4 GDP’s out: 2.8%, down from the previous 3.2%!

Whichever one is correct, this is mediocre economic performance!

There’s just not sufficient private sector demand to assist the 25 million unemployed Americans.

What’s needed is a jobs program and a significant increase in government spending, but everyone in DC these days is doing their level best to cut spending and destroy the US economy.

Gorilla says: “It’s an entirely preventable disaster!”

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Austerity The Snowman

Friday, February 25th, 2011

Seems the UK’s economy contracted more sharply last quarter than previously thought!!!

And it seems that the contraction can’t be entirely blamed on the snow: the economy would have contracted anyway!!!

Once again, this demonstrates the foolishness of governments pursuing austerity programs at a time of little or no economic demand absent greater government spending.

It’s a lesson that was first learned by FDR in 1937, but today’s leaders seem hellbent on making the same mistake.

Gorilla says: “Stupid is as stupid does, and the stupidity is increasing!”

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How Lost Was My Valley

Friday, February 25th, 2011

The Pech Valley in Afghanistan, crucial to American strategy in Afghanistan a year ago, now being abandoned…

Why? The same reasons why Afghanistan itself should be abandoned: not enough troops, too many insurgents, insufficient security, zero nation building, no real exit strategy, on and on!!!

Gorilla says: “After 10 years of failure, it’s time to go!”

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If It’s True

Thursday, February 24th, 2011

That the US military used “psy ops” on US Senators visiting Afghanistan, then:

1) Those directly involved should be relieved of command and court martialed immediately.

2) The Secretary of Defense, the Secretary of the Army, the Chairman of the Joint Chiefs of Staff, the Army Chief of Staff, and General David Petraeus should be fired immediately by the President of the United States.

It’s long past time that the US political leadership put the US military back under civilian control.

This sort of stuff is completely unacceptable, totally illegal, and borders on treason.

Gorilla says: “You can never trust the Pentagon to do anything other than lose wars!!!”

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Sounds Like…

Thursday, February 24th, 2011

George W. Bush and Dick Cheney, when things didn’t quite go their way…

Gorilla says: “Gosh darn it, if we had only caught bin Laden, the Middle East would be safe from democracy and the oil will start flowing again!!!”

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Shorter Midwestern Republican Governors’ Policy

Thursday, February 24th, 2011

“We must destroy our state in order to save it from our teachers, police, firemen, women, and assorted non-white folk!”

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