Archive for February, 2013

The Irony Of Being Stupid

Wednesday, February 27th, 2013

Cameron and Merkel are certainly among the worst leaders in Europe, if not the world, and thanks to their stupid austerity fetish both the pound and the euro are tanking.

Of course that will only help the German and British economies to grow.

Gorilla says: “And then they’ll say they knew it all along!”

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Shorter Horsemeat Scandal

Tuesday, February 26th, 2013

“Wilbur, if you stopped eating processed crap, you’d feel better and so would I!”

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What’s New In Italy?

Tuesday, February 26th, 2013

Divided government for the umpteenth time, plus ca change…

The Germans of course wanted Monti to run things and continue with economy destroying austerity.

The other party leaders range from actual clowns (Grillo) to perpetual clowns (Berlusconi).

Italy really has only one way forward: to leave the euro, return to the lira, and devalue sharply.

Staying in Euroland will only provide greater opportunities to political extremists.

Gorilla says: “The pot’s boiling, but only in Berlin!”

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Imagine How Much Worse It Would Be

Friday, February 22nd, 2013

If Eurozone governments had actually hit their targets for cutting spending!!!

Meanwhile, the EC is out with another forecast: contraction is indeed contractionary, so no growth for another year and even higher unemployment…

The complete and utter stupidity of the ECB and leaders like Angela Merkel have condemned millions to absolutely unnecessary suffering.

What’s needed is what’s been needed for the last 5 years: 1) a much higher inflation target, at least 4-5% until unemployment falls, 2) a reduction in interest rates to 0% until growth recovers, and 3) a continent-wide stimulus on the order of $1-2 trillion/year for the next 3 years.

And none of this is on offer because European leaders have learned nothing about the economic history of the past 75 years.

Gorilla says: “The Reichstag fire is still smoldering!”

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The Fed Twiddles Again

Wednesday, February 20th, 2013

If you’re stuck on, or rather below, an utterly stupid 2% inflation target, while the political classes abdicate responsibility for the the fiscal side, then you’re not fulfilling the dual mandate!

High unemployment and low inflation is an absolute disaster for this country. What’s needed is a clear statement: 5% inflation will be tolerated until unemployment falls below 6%.

Gorilla says: “The thumbs are increasingly thumbscrews, as applied by the Fed!”

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Sequester The Jester

Tuesday, February 19th, 2013

If the sequester goes through, some 60 billion in spending cuts will be enacted this year.

This amounts to 0.004% of US GDP in 2013, or 0.016% of the federal budget in the most recent fiscal year: FY 2012.

So yes, the sequester is a stupid abdication of political leadership and is the opposite of what is needed to fix the US economy, namely a large-scale stimulus aimed at job creation.

But no, it’s not the end of the world for the US economy or the federal government.

Hopefully, voters will understand in 2014, and act accordingly, that only one political party wants the responsibility of governing, while the other political party only wants tax cuts for the wealthy.

Gorilla says: “With power comes responsibility, but before that arrives the Know Nothing clowns must be gone!”

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Shorter Simpson-Bowles II

Tuesday, February 19th, 2013

We remain sociopaths who still don’t care about the deficit at all; we simply want to screw the poor and the old on behalf of the rich.

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Two True Things

Tuesday, February 19th, 2013

1) If you live in a home that contains guns, you’re 5 times more likely to die by being shot.

2) Absolutely nothing will be done legislatively for the next 4 years on the following issues: immigration, gun control, and climate change.

Gorilla says: “The challenge for Americans is to elect a filibuster-proof Democratic majority in the Senate and House, because Democrats represent the only party interested in actually governing!”

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A Great Actor

Monday, February 18th, 2013

Richard Briers, who died yesterday.

He’ll always be remembered for the Good Life, but he was also a great stage actor, who Gorilla was fortunate to see on two occasions, and by all accounts, a decent and warm human being.

Gorilla says: “He will be missed!!!”

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Shorter G20 Communique Drafting

Friday, February 15th, 2013

“We will not target currency rates. We will not target unemployment. We commit ourselves to continue being stupid and useless”.

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