Archive for May 2009


May 29, 2009

90% of economists say the economy will turn around the last quarter of 2009.  Just remember these are the same guys who didn’t see the down turn coming.

Here’s a story by one of my favorites Mike Whitney saying no, no another down leg is coming in the fourth quarter.  Your choice my friends but I know who I believe and Mike is not alone in calling this downturn.



May 29, 2009

I got a love note from my friends at Chase bank the other day saying that even though my credit rating is 800 and I’m a long term customer they were raising the interest rate on my cards by 7 percent.  Now I do have a choice  I can take it or turn in my cards.  I’ m lucky there’s no balance on these cards they are paid off every month . The reason I had more than one it was an easy way  of bookkeeping    for things like prescription co-pay waiting   for reimbursement .

I knew this was coming the rumor on the net was they were going to bounce rates now before limits were thrown on them.  I dumped Wells Fargo a few weeks ago for raising fees knowing they would soon follow with interest rate hikes.  I did however find a solution that kinda makes you feel good too, I switched to a community bank where at least the one I found has cheaper rates, they know you by name.  Credit unions most likely are like this too.  So get ahead of the curve open a local account and buy a stamp to send your cards back to the benevolent boys at the big bank.  Then way by by to them if we all do this they will not survive and they don’t deserve to make it.


May 29, 2009

I  usually like to read Robert Reich’s blog, until today! This piece will make a grown man cry, puke, and beat his middle to pulp with a hammer, what a crock of shit.

His basic premise is productivity has reduced the need for manpower every where even including Brazil so we should feel just part of the crowd.  He says we should stop crying about low wage countries taking our jobs.

quote :Factory jobs are vanishing all over the world. Even China is losing them. The Chinese are doing more manufacturing than ever, but they’re also becoming far more efficient at it. They’ve shuttered most of the old state-run factories. Their new factories are chock full of automated and computerized machines. As a result, they don’t need as many manufacturing workers as before.

Economists at Alliance Capital Management took a look at employment trends in twenty large economies and found that between 1995 and 2002–before the asset bubble and subsequent bust–twenty-two million manufacturing jobs disappeared. The United States wasn’t even the biggest loser. We lost about 11% of our manufacturing jobs in that period, but the Japanese lost 16% of theirs. Even developing nations lost factory jobs: Brazil suffered a 20% decline, and China had a 15% drop.

Hell we can’t even be #1 in job losses! This thinking has so many holes in it a sieve looks solid in comparison.  The big one for me is “If labor now is less intense, why move the factories over seas? ” Seems like a pretty simple concept if the factory “Ole Shorty ” visited only had two workers in it why would you want to move it overseas.  Yet they did and did and did.

Mr Reich sites agriculture at the beginning of the last century as a stunning example of how job loss in framing is a model we should follow in the loss of manufacturing jobs.  He neglects to mention that this was also the beginning of the industrial age of America. To be replaced in our current crisis by Walmarts? or  perhaps McDonalds.

He jumps to us blaming he low wage workers of the poor countries for taking our jobs when  it is really technology we should be blaming.  God Damn this to me seems to be so lame that I dare not put in words what I’m thinking.  Yeah sure folks in poor countries  need to be raised up and perhaps some are at least for awhile. He sites China as an example as they are automating their factories and require less and less workers.  So the flunky ole robots are going to be doing all the work, where have we heard that before.  Remember not long ago they were touting that we were going to have so much” leisure” time we wouldn’t know what to do with it. ” What they didn’t tell us that “leisure” time was going to be unemployment!!

So what all us folks to do ?  Why of course we will be “Symbolic Analysts”  You know the guys who brought you the current economic disaster.  The math wizards who now say “AHH hell it worked  on paper”  or 100:1 leverage is a good thing, or deregulation is the only way to fly. Also lying, fake bookkeeping, deliberate deception, the old rules don’t apply theory became the tome of the day.  Yeah those are the folks we need to duplicate.  Don’t the dumb shits know computers can do that better than a human.   Have fun on the unemployment line.

Oh by the way it’s obvious these folks have never heard of Hal.

Almost forgot Robert says the big problem we have to solve is how to get Walmart to pay a living wage.  The map is set we will NATIONALIZE IT!!

Tune in when ole Robert does his part two, I’m sure I’ll love it.


May 22, 2009

Watch this right wing radio jock eat his words as he last all of  6 seconds in a waterboarding.  Olberman ponied up 10K to charity because this loud mouth cried uncle.  Come on Hannity and  O’reilly and why not ole fatso Limbug too.   I’ll bet you we could raise a million bucks to watch this.



May 14, 2009

Bear with me,  I have to beat the Torture Drum one more time (maybe) I’ll probably beat it till these pukes are in prison.

Obama has reneged on his promise to release the new torture pictures.  The speculation about why he has done this are varied and the following is my cut on what I heard and what is likely the reasons for him not to release them.


There are thousands of these pictures and they have been out there for 3 years or so in Australia and if released prosecution would be mandatory and would include a large number of Congressmen to be taken up on War Crimes.

Here an example of the kind of thinking that made this possible.  The  infamous John Yu said in an interview that the President could order the testicles of a son of a suspect crushed before his eyes.  I didn’t make this up here’s the interview.

Here’s what I rely on to say this is against all military code.

Heard on the Thom Hartman show on April 24


May 12, 2009

In my warped little mind I’ve suspected for a very long time these pirates were not the simple Somali fishermen bent on riding their water of dumpers and fish thiefs.  Nope , ain’t no way these outboard pirates could find ships in that big big ocean without some up to date help.  Sure enough this story leaked today, no names just a story, but we sure found out a lot more than we previously knew.  Fishermen with satellite phones, course , load and ports of call advanced information.

Now all we need is some names and then we will understand what this is all about.

I am familiar with every pimple on Miss California’s body but I don’t know anything real about these pirates.  It’s just amazing isn’t it how great our news sources.


May 12, 2009

Talking heads everywhere are talking recovery, we have hit the bottom, there is a glimmer of hope, housing shows signs of recovery, car sales are showing a rebirth and on and on and on.  I’ve been saying what in the hell are they talking about.  I have called it a Perfect Economic Storm and recovery is along way off.

Today I was joined by another in the very small ranks of those who tell the truth.  Marty Weiss who I have known of for a very long time, way back to Wall Street Week days on PBS where he was very often the guest market guru.  He was a straight shooter then and apparently still is.  Today he shows you 5 parts of the economic storm we are in, the parts we all know because they are a part of out daily lives.  In other words stuff we understand without a lot of study.  JOBS, AUTO’S, HOUSING, CONSUMER CREDIT, BANKS EACH IS SHOWN TO YOU IN A SIMPLE OLE GRAPH THAT IS WORTH A THOUSAND WORDS .  LOOK