We’ll undertake a more thoughtful transition to losing with fewer troops.
Shorter New Petraeus Rules
August 31st, 2010
Mr. Market Isn’t Happy
August 31st, 2010Japan’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!”
Thumbs Up From The Thug
August 30th, 2010Yes, 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!”
How Not To Climate Change
August 30th, 2010Well, 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!”
Assault Of The Earth
August 30th, 2010The 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!”
Easing To The Bottom
August 30th, 2010Japan’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!”
Shorter Glen Beck Rally
August 28th, 2010Triumph Of The Swill
Helicopter Ben Hovers In Place
August 27th, 2010Well, 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!”
And These Are Our Allies
August 27th, 2010Bahrain: tightening up after 10 years of sorta, kinda loosening up…
As usual, it takes a government official to explain just what’s going on:
“The reform project leaves no excuse or justification, whatsoever, to illegally express opinions that harm the nation,” Deputy Prime Minister Ali bin Khalifa al-Khalifa said.
Gorilla says: “An oily fate when stuck with the fifth rate!”
Somebody’s Hiring
August 27th, 2010The CIA certainly is, so long as you’re an Afghan government official who knows something!
What’s profoundly stupid in all this is that no one in CIA human resources seems to realize that they’re getting nothing for the money: no functioning government, no defeat of the Taliban, no real control over most of the country, and no end in sight to another pointless war.
Gorilla asks: “When we will get qualified employers?”
