Archive for July, 2011

Only Clowns Left To Save Him And Us

Sunday, July 31st, 2011

Two big ifs may happen this week: If Democrats and the President agree to large spending cuts over the next two years as part of the debt ceiling charade, and Know Nothings nominate someone who isn’t a total clown (that would be someone other than those who have already announced):

1) The economy will go back into recession by the end of this year.

2) Unemployment again will approach 10%.

3) President Obama will be a one-term President.

4) Democrats could lose both houses of Congress and the White House in 2012.

Bottom line: so long as we are ruled by complete and utter idiots, there’s little prospect of economic recovery. On the other hand, complete and utter idiocy is all that’s on offer.

It’s a tragedy for the country that our leaders seem totally oblivious to the crushing reality being experienced by millions of Americans.

We need a very large jobs program and at least $2 trillion in additional spending to make up for the loss of demand and the output gap.

The alternative is another decade or more of stagnation and the end of America’s predominant position in world affairs.

Gorilla says: “Insanity is not a winning platform for the Democratic Party!”

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Turkey v. Turkey

Friday, July 29th, 2011

There goes the military!

Not very happy with the Islamish ruling party, apparently…

Separation of church and state, subordination of military to civilian authority: all the things we Americans say we believe in!

Gorilla says: “If only we could get get both our generals and our politicians to resign en masse!!!”

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What Our President Should Do

Friday, July 29th, 2011

1) Announce immediately that he will be lifting the debt ceiling by $5 trillion.

2) Announce that he will veto any and all discretionary spending cuts enacted by the US Congress.

3) Call Ben Bernanke and tell him to get moving on QEIII, preferably in the form of sending a large check to every American who is not employed by the financial services, energy and health care industries.

4) Take all remaining TARP funds and start a jobs program to hire 3 million Americans at $30K/year.

Gorilla says: “And hey presto, welcome to the real Recovery Summer!”

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Not That It Matters

Friday, July 29th, 2011

But Ann Margret got it right, and the batshit insane Know Nothing far right indeed will substitute Boehner for Birdie before the year is out:

Gorilla says: “When one party is full of clowns, and the other party full of cowards, guess you won’t always care!”

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Austerity=Disaster

Friday, July 29th, 2011

More lousy GDP growth (less than inflation, thus technically we’re back in recession), so we should:

1) Undertake a new stimulus program, on the order of $1-2 trillion, since private sector demand is more or less dead and there are upwards of 25 million Americans without jobs.

2) Emulate the Eurozone: Spend weeks and months discussing how we can destroy the economy further.

Gorilla says: “Option 2 is the only one our idiot leaders offer!”

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Who Are These Guys?

Friday, July 29th, 2011

Clearly, we have no idea, Western policy currently is: Gaddafi bad, everyone else less bad, let’s make a deal!

And so another pointless and stupid war continues…

Gorilla says: “A fatah younis worse than death!”

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Still Too High

Thursday, July 28th, 2011

Unemployment claims: below 400K for the first time in a while…

But still way too high.

Gorilla says: “And still nothing whatever being done about it!”

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Contraction=Contagion

Thursday, July 28th, 2011

They’re pretty much the same thing in today’s global economy…

Italian bond rates are now higher than they were before the latest EU crisis.

What the market sees is slowing growth in those Eurolanders actually growing, and complete contraction in the austerity-obsessed peripheral countries.

And so the contagion around Italian and Spanish debt will continue!

None of this is being helped by the ECB’s ludicrous fight against non-existent inflation, or the US attempts at national economic suicide over the debt ceiling.

Gorilla says: “When all the world’s leaders are this stupid, there’s very little hope for the future!!!”

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Being Beastly To The Germans

Wednesday, July 27th, 2011

And the Italians and Spanish, too!!!

Mr. Market isn’t happy with all the extending and pretending from Angela Merkel. He wants to see big time bond purchases by the ECB to forestall a Euroland-wide contagion and the possible breakup of the single currency regime.

Hard to see this happening, given the complete dishonesty with which Chancellor Merkel has approached the inevitable. German and other relatively flush Northern European taxpayers will need to decide once and for all whether they’re ready to bail out the European banking system. Cost: at least $2 trillion.

Gorilla says: “Two speed Europe only has reverse gears!”

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Not Winning

Wednesday, July 27th, 2011

When the mayor of Kandahar is so easily killed, it’s clear that we’re not winning the future in Afghanistan.

There appears to be no real security in the country and very little progress on establishing a democratic, uncorrupted government people can count on.

Gorilla says: “Wind it up, this show is over!”

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