Archive for September, 2011

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Killing The Preacher

Friday, September 30th, 2011

And the President adds another terrorist sympathizer to his belt, the contrast with his predecessor remains quite stark…

But the terrorism sermons will go on, and we need to recognize that they are not an existential threat to the US.

Deploy appropriate resources of law enforcement at home, occasional drone strikes and intelligence gathering abroad, and above all a commitment to helping failed states like Yemen and Pakistan achieve something other than chaos and violence.

Gorilla says: “Appropriate doesn’t mean $750 billion/year in defense spending to fight fifth-rate preaching clowns!”

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More Inflation Now!

Friday, September 30th, 2011

One of the most important parts of getting through the latest economic disaster is to encourage a much higher inflation target.

There is zero evidence that the markets are worried in any way about inflation; long bond rates are at the lowest level in decades.

Higher inflation will make it easier and faster to deleverage debts.

The target should be 5% until unemployment drops below 7%.

Instead, what we’re getting is a refusal by elites in the US and Europe to do anything about unemployment.

It’s absolutely amoral, and it’s absolutely stupid.

Gorilla says: “Warm up the helicopters, give people not banks some free money, stop the idiocy of austerity, get some stimulus projects going: voila, no more lost decade!”

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More Fake Terrorism

Thursday, September 29th, 2011

Nothing wrong with law enforcement monitoring people who make violent threats against the country, but why does the FBI feel they must stage manage crimes in order to stop terrorism?

It’s clearly all about justifying your budget allocation, but it’s also ridiculous and counterproductive. Aren’t there enough actual terrorists to go around without inventing new ones?

Gorilla says: “Remote controlled airplane bombs are one thing, phony remote controlled airplane bombs are something else!”

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As Racist As Ever

Thursday, September 29th, 2011

Alabama: it’s still the same old story, a thoroughly racist state in a mostly racist country. George Wallace would be so proud!

All of these anti-immigrant efforts, like all of the anti-abortion, anti-gay, and anti-sharia law nonsense, are motivated only by one thing: fear of the other. Much better to demonize everyone and everything you don’t like than to do anything positive at all about the common and fraying bonds of humanity.

Gorilla says: “E pluribus unum? You must be joking!”

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Screwing The Most Vulnerable Americans

Wednesday, September 28th, 2011

The new Super Duper Committee wants to cut costs in Medicare and Medicaid!

Not of course by the simplest solution, namely bringing everyone into a single payer system and reducing payments to the bloated medical industry, but by forcing the sickest and poorest Americans into a far more expensive privately managed care program!

The US spends twice as much on healthcare as any other country, yet 50 million Americans lack health insurance and our life expectancy is more or less the same as Mexico’s.

But the Congress is bought and paid for by Big Pharma and the AMA, so naturally those with no clout will be first in line to be clouted.

Gorilla says: “Single payer remains the only serious way to cut healthcare costs, and it’s nowhere in sight!”

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Tobin Again

Wednesday, September 28th, 2011

The Tobin tax is back in the EU, and of course the Brits are upset, since they’re a wholly owned subsidiary of the banksters…

It’s really peanuts in terms of funds raised ($57 billion/year), but it’s important that the world take a small measure of revenge (beyond the far larger haircuts that are coming) on an industry that has done its level best to destroy the world economy.

Gorilla says: “It’s a start on a bit of accountability!”

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Searching For The Right Asshole

Tuesday, September 27th, 2011

Ted Leonsis, definitely…

Chris Christie, definitely…

The University of Chicago Economics Department, definitely…

Gorilla says: “The right’s assholes have destroyed our country, they’re lying, whining racist clowns, and unfortunately there are still plenty of Americans who want to give them rim jobs!”

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Still Insufficient

Tuesday, September 27th, 2011

Leverage up the rescue package as much as you dislike, but without a cut in interest rates and a raising of the inflation target, extend and pretend will not save the euro.

An inflation target at or below 2% means crippling deflation and a larger debt burden for the PIIGS. No cuts in interest rates mean borrowing costs will increase, not decrease.

Gorilla says: “The Germans need to face reality, but all they want is fantasy!”

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The Non-Wild Bunch

Monday, September 26th, 2011

At the ECB, where the refusal to do anything other than fight non-existent inflation threatens the destruction of the Eurozone!

As Krugman points out, and he’s only a Nobel Laureate, the ECB needs to raise the inflation target substantially, cut interest rates, and get big-time stimulus going. In fact, America should be doing the same, but we too suffer at the hands of a profoundly stupid leadership.

So what does a French ECB board member say to this: “These wild expectations only show that some people have lost the north”.

Gorilla says: “And the east, south, and west, too, if you keep this nonsense up!”

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A Truly Great Human Being Has Died

Monday, September 26th, 2011

Wangari Maathai: environmentalist, Nobel Laureate, a person who made the world a better place for millions of people!

Gorilla says: “While Americans celebrate fifth-rate mediocrities like Hillary and Sarah and Michele, the transcendent Wangari will never be forgotten!”

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