October 20, 2010

Financial Briefing: Pennies from Heaven
— Monty

We will be assaulting the Shady Acres Retirement Village just before sunrise, men. Some of us will not return. The geezers know of our presence, and are prepared. They will meet us with phalanxes of walkers; with Scoot-A-Bouts massed for defense; with checmical warfare (primarily Mentholatum and Dr. Sprott's Deep Heating Salve); with pureed peas and mashed potatoes and prune juice. They will conduct psyops missions -- grey-haired grannies will plaintively ask you why you don't visit more often, and some grand-dad with high-water chinos will tell you that kids these days aren't worth a damn. They will play Glenn Miller tunes at ear-splitting volumes. I'm not saying it's going to be easy, men. It will be the toughest fight of your lives. But I can say that this is the most important battle that you will ever fight! The future of the world depends upon your success! Now get in there and BRING THE PAIN to those geezers! Crush them, or they will surely crush you!

I really cannot fathom why the French are raising such a ruckus. They're usually so subdued. If ever there was a people to face hardship with quiet grace and calm, it's the French. They're like the Greeks that way.

If you're currently funemployed, you have a lot of company. The federal government has obfuscated and twisted every number they can think of to keep the official unemployment number below the dreaded double-digit mark, but anyone with half a brain knows it's been above 10% for a long while now.

Here's your scary chart-fu for the day. It's a color coded map of underwater mortgages in Q4 2000 and Q4 2009. The change is...dramatic.

BofA Complaints Department: Yes, may I help you?
PIMCO: Yes, I'd like to return these bonds, please.
BofA: May I ask why you are dissatisfied with the bonds, sir?
PIMCO: Well, they're not really bonds, are they? They're just bits of paper with "$$$THIS IS A BONED$$$" written on them. In crayon. And you misspelled "bond".
BofA: That is our standard bond, sir. I'm sure you'll be happy with them!
PIMCO: No, I don't think I will. I'll just have my money back, please, and you can have this truckload of worthless paper.
BofA: And what is the amount in question, sir?
PIMCO: That'd be $47 billion. Cash, if you please.
BofA: Ah. Yes. I'm afraid that our policy is not to refund, but rather to issue store credit. Here is a credit receipt for $47 billion as requested, sir, redeemable at any BofA store.
PIMCO: Look here! You just tore off a piece of shopping-bag paper and wrote "47 billyun dallars" on it! No, no, no! There's just something off about this whole business! I bid you good day, sir! You will hear from my solicitor directly!

I told you so. China is facing wage-pressure. You can't pay people slave-wages forever. If you're an authoritarian Communist country, you can do it for quite a long time, of course; but sooner or later, the employees are going to want their share of the pie. If you can't give it to them, why...they might just stop showing up for work. Or get fractious and start breaking things.

I don't really cover the stock markets any more (what's the point?) but it's worth noting that both the DJIA and the S&P 500 took a real shot in the nuts, losing about 1.5% at the close of trading.

$41,966.00 Pay up, sucker.

Good news? We don't need no stinkin' good news! Nor actual investors, neither! Nor earnings! Pull quote:

For the first time in at least 25 years, the market has staged a three-month rally of more than 10 percent without having a single week where equity mutual funds saw net inflows, according to data from the Investment Company Institute and LPL Financial.

A rare financial tie-in to my Sunday book-thread: Rare books are sometimes smart investments. I would sound a note of caution, though: this is not a pastime for amateurs. It's rather like the art market in that way -- there are few genuinely good investments, but much fraud, fakery, and cheating. (I myself opt for the surer -- if less remunerative -- market offered by vintage gentlemen's periodicals. My vast unbroken collection of Juggs magazine will someday be worth a tidy sum, if I'm any judge of my fellow enthusiasts.)

The worker's story was heart-rending: "It's like workin' under the Romans in the olden days, guv! Like the salt mines or slave galleys! The lash! Vicious beatin's at all times o' the day, gettin' nothing from the overseer but a mouthful of vulgar abuse! No food! No water! Letting your waste drop where you stand like some kind o' wild animal! It's iniquitous, it is, uncivilized, and it oughtn't to be allowed!" I must confess I was rather taken aback when I saw the crowds of people waiting in line to work in such a horrendous dungeon. I wondered if perhaps the worker might have exaggerated his sad tale just a bit.

A Europe-wide VAT? I'm sure the unelected bureaucrats in Brussels love the idea, but I have a feeling that the sovereigns -- especially the solvent ones like Germany -- might have a thing or two to say about that. They're desperately trying to come up with a bailout for the PIIGS that won't freak out the bond market, but so far, no miracle-cure has presented itself.

Is it just me or does this aspirin stink?

Yet another sad chapter in the California Annals of the Boned: noted walking political dead man bronzes a turd, mounts it on a pedestal, and pretends it's his prize for seven years of cowardice, missteps, fuckups, and perfidy.

Posted by: Monty at 03:04 AM | Comments (167)
Post contains 965 words, total size 7 kb.

1 Good Morning Monty sneaked in early I see.

I'm one of those old geezers who will get hit with a big tax increase when the Bush tax cuts expire. I have been expecting it and I blame assholes like McCain who went over to the other side and prevented the tax cuts from being permanent.

The increases will not hit me as hard as some though because most of my dividend income comes from a 401K that is not a "qualified dividend" for tax purposes in the lower tax rate.

Posted by: Vic at October 20, 2010 03:26 AM (/jbAw)

2

It's a color coded map of underwater mortgages in Q4 2000 and Q4 2009. The change is...dramatic.

Yeah it is. CA with under .1% back in the day.

Of course, it's bush's fault.

Posted by: dudeinsantacruz at October 20, 2010 03:28 AM (vIckl)

3 Strikes in France with violence and riots because they wish to bump up the retirement age slightly.

Think about this. When we run out of "other people's money" (soon) and they start cutting off those 80K welfare queens in the urban areas expect some new instant urban renewal going on. It will be the 60s all over again with the parties going full bore with bonfires and fire sales for all those free big screen TVs.

The difference this time? After decades of Democrat urban rule they no longer have the police or fire departments to combat this kind of shit. Folks it will be dangerous to live anywhere close to an urban area like this.

Think about moving NOW!

Posted by: Vic at October 20, 2010 03:38 AM (/jbAw)

4 1-between the tax cut expiration and the jacked up price for name brand prescriptions, (Plavix is holding out on going generic) we will be lucky to buy food, much less send our kids to college now. And even then, we STILL wouldn't qualify for financial assistance.

Posted by: moki at October 20, 2010 03:43 AM (dZmFh)

5 Think about moving NOW!

Posted by: Vic at October 20, 2010 07:38 AM (/jbAw)


Already moved away from the Main Line outside of Philadelphia. The writing was on the wall when Chaka Fattah's district was extended out from West Philly across the county line. Very happy to be in rural central VA!

Posted by: Museisluse at October 20, 2010 03:45 AM (DTfXb)

6 6-We just moved from Lynchburg, VA, and really miss it now. It took us some time to get used to the people-we were expecting Southern friendly, and they weren't really. But once you get to know people, they are deep friends, and will jump to help when there's trouble. We never thought we'd say this, but we are ready to go back now.

Posted by: moki at October 20, 2010 03:52 AM (dZmFh)

7 It took us some time to get used to the people-we were expecting Southern friendly, and they weren't really.

Where are you at now?

Posted by: Vic at October 20, 2010 03:53 AM (/jbAw)

8 CDR M: It's like book-collecting, really. There are some valuable comics, but they're far rarer than people think. (And you can mostly forget about the "limited edition" and "collector's editions" published since, oh, 1985 or so.) The rare-comic market is glutted right now anyway due to the bad economy. A lot of people are selling off their collections to pay the bills. Same with rare instruments, etc. It's a buyer's market right now. But if you're a buyer looking for an investment, this can present opportunities -- but as I said before, it's no market for amateurs. You really have to know your books.

Posted by: Monty at October 20, 2010 03:55 AM (o2hlb)

9 The "real" unemployment rate. A lot of the so-called experts have been placing unemployment at around 17% for a while now.  They are adding the long term unemployed to the fresh to get that number.

In my opinion it is a lot damn higher than even that. I think we are at or near the unemployment that was around in the 30s and early 40s. And if we counted it the same way they did then we would see it.

Posted by: Vic at October 20, 2010 03:59 AM (/jbAw)

10 All those people with underwater mortgages will just quit paying and live rent free because they can not be kicked out now for a long time.

Posted by: Vic at October 20, 2010 04:02 AM (/jbAw)

11 ......so when does the rioting begin? we have sheriffs that won't evict on foreclosures, banks that have halted foreclosures, sales contracts that are not being enforced, people who can pay mortgages but can't refinance or renegotiate their loans, people who have lost homes that the bank could have worked with but didn't and people who are sitting in homes they never could afford, still cannot afford but have had the banks bend over backwards to keep housed.....

Posted by: bho the greatest thing since sliced bread only you're too dumb to recognize it at October 20, 2010 04:08 AM (eOXTH)

12 Chicago pension funds, like all crooked company pension funds, were underfunded, or in this case purely unfunded. i.e. another ponzi scheme that only government can legally do.

Their solution, the federal taxpayer will have to bail them out. So city workers in Hayseed, SC who make $20,000 a year will contribute to a fund to pay some SEIU union slug who did nothing in Chicago his $75,000 retirement package.

Expect a LOT of blowback if that happens.

Posted by: Vic at October 20, 2010 04:08 AM (/jbAw)

13 If the French had fought this hard against the Germans, we wouldn't have lost so many fine young men freeing their sorry asses. I should set up a counseling booth on the Champs Elysses where for one Euro I smash a Frog's teeth in with Charles De Gaulle's femur. Fuck the French. Let the muzzies have 'em.

Posted by: Empire of Jeff at October 20, 2010 04:09 AM (Idoz0)

14 Opening paragraph sounded like a take on the Obamas' ad.

"Get out there and fight!"--BHO

Or, joking with seniors, countering the foundation funded voter turn-out  appeal for volunteers to give rides to young voters and ex-felons. (Democracy North Carolina)

That the French, with their built in vacations every year, can't bear the thought of enduring two more years of professional activity prior to retirement proves their culture retired along with the will to live, propagating French/Gaul families with children.  Just leave France alone to the French. They'll NEVER accept American advice.

Posted by: maverick muse at October 20, 2010 04:10 AM (H+LJc)

15 ok, second....coffee

Posted by: maverick muse at October 20, 2010 04:11 AM (H+LJc)

16

 ... the French, ha!

... they talk tough, taking to the streets in Paris, taking another month or 2 off work to 'protest' ... but when some foreign army comes marching down the Champs-Élysées, they piss their pants... 

Sarkozy needs to rent the Wehrmacht for a week ... problem solved!

Posted by: mark x at October 20, 2010 04:14 AM (gwr6i)

17 China would rather rebuild plants within China to a poorer region than pay workers a bit more?

Does that really make economic sense? I'm sure it does to the previously undeveloped regional population set to earn money where previously there was no work.

Spread the wealth. You've had yours. Bye now.  Are foreign investors following up, purchasing the plants before being abandoned/dismantled, able to get in on the ground floor of what China already built for a bargain, "higher" Chinese wages still being lower than India?

Posted by: maverick muse at October 20, 2010 04:16 AM (H+LJc)

18 but when some foreign army comes marching down the Champs-Élysées, they piss their pants...

and wave with a smile

Posted by: maverick muse at October 20, 2010 04:17 AM (H+LJc)

19 Rare book are a sure investment if you steal them off the library shelf in small libraries.

I was looking through the on line catalog for our local country library and came across a history book written in the late 1800s. Wow I says and rushed down to the library to get it and see how things had changed in history.  I did not find that book. Went to the counter and asked the librarian who checked and said yes it should be there. We both checked again and she noted that it had most likely been stolen.

Posted by: Vic at October 20, 2010 04:17 AM (/jbAw)

20 We both checked again and she noted that it had most likely been stolen.

...if not misplaced. Likely, an ignorant idiot was offended by a passage and took the book home to burn. History.

Posted by: maverick muse at October 20, 2010 04:20 AM (H+LJc)

21 Wal-Mart worker horror stories. Those stories about the customers could be for any store in the country anymore.

Ad for the workers who complained about making minimum wage in NY working at a Wal-Mart that is BS.

The starting wage will be minimum but after your trial period it raised to about $10/hr here in Podunk, SC. If you stay for a few years you move on up like any other business and you get "benefits" contrary to what the lying unions are saying.

Posted by: Vic at October 20, 2010 04:24 AM (/jbAw)

22 Tylenol odors; something about that just doesn't sound right. If the odor was coming from a chemicao used in the storage pallets why would the drug itself have the odor? Wouldn't it only affect the packaging?

Posted by: Vic at October 20, 2010 04:28 AM (/jbAw)

23 We will be assaulting the Shady Acres Retirement Village just before sunrise, men.

Cry 'Matlock!' and let slip the dogs of war.

Posted by: nickless at October 20, 2010 04:28 AM (MMC8r)

24 LOL, Louis Prima and his scat style which was popular in the 50s. I like some of the stuff he and his ex Keely Smith used to do.

Posted by: Vic at October 20, 2010 04:32 AM (/jbAw)

25 Another good one Monty, thanks.

Posted by: Vic at October 20, 2010 04:33 AM (/jbAw)

26

Well monty having worked at WalMart I can vouch for most of those stories, just not the pregnant lady/single mother ones.  I suppose it was bad before, but within the realm of a low wage/skill job, but since the recession Walmart cut workforce and hours and expected everyone else to not just do a crappy job for a crappy wage but to do 2 crappy jobs for a single crappy wage.  Not surprisingly that didn't work out well, so most days started with getting yelled at while the company made it easier to get rid of people (including managers).  Needless to say, that didn't work either.

I recall talking with a couple soda vendors now and then who would never miss a chance to talk about how much they hate doing WalMart's because of how mean the managers are, rude the employees are, and just how bad the atmosphere is in general.  I've worked in a variety of retail environments over the years, and WalMart was by far the worst.  It was also the only one since the recession, but even Blockbuster when everyone first realized it was dying was better.

Posted by: jarod at October 20, 2010 04:34 AM (SN4+f)

27 The starting wage will be minimum but after your trial period it raised to about $10/hr here in Podunk, SC. If you stay for a few years you move on up like any other business and you get "benefits" contrary to what the lying unions are saying.

Posted by: Vic at October 20, 2010 08:24 AM (/jbAw)

It was about 10 cents above minimum wage in Columbus, Ohio last year.  Oh, and they were getting rid of the raises at the time.

Posted by: jarod at October 20, 2010 04:36 AM (SN4+f)

28 O/T

And speaking of Jazz and the blues, Monty I finally got to watch that Crossroads movie. As I recall that thread from a couple of Sundays ago, someone commented that they saw no need for the "girl" in the movie.

After watching it again for the first time in probably 20 years I say that is not correct. Her "love interest" and then departure was supposed to provide him with the "blues" so he could perform the "blues". 

Yes, an old and tired cliche', but the jamming was still good.

Posted by: Vic at October 20, 2010 04:37 AM (/jbAw)

29 t was about 10 cents above minimum wage in Columbus, Ohio last year.  Oh, and they were getting rid of the raises at the time.

Posted by: jarod at October 20, 2010 08:36 AM (SN4+f)

They actually had to hire people here as more people started shopping at Wal-Mart and leaving the other stores. 

And yes, all retail jobs start at minimum wage, but most don't stop there unless it is one of those little "mom & pop" stores that everyone complains is getting run out of business.

Posted by: Vic at October 20, 2010 04:39 AM (/jbAw)

30 We grew up the old fashioned way, gathered around the piano at home singing with mom playing, a very long family tradition. I LOVE Americana songs from the 20's-30's, Gershwin's era, and the big band versions of those in the 40s along with the novel boogie swing.

Pennies From Heaven
...always been a favorite of mine. I made sure to sing it with my kids when they were young, along with Imagination and Life Is Just a Bowl of Cherries they sang with Grampa.

Sun's up. Dogs' walk.


Posted by: maverick muse at October 20, 2010 04:41 AM (H+LJc)

31 Hi Guys!

Financial news is too depressing.  Last night I had to go to a lecture with Mr Y-not by some philosophy professor on the ethical problems associated with the 2008 financial crisis.  The rehash was depressing as was the realization that this particular prof clearly thinks that brain trusts like Chris Dodd and Barney Frank are offering the solution instead of recognizing that they were the problem in the first place.

Since someone else posted O/T, I'll toss this out about Presbyterians, scouts, and Mormons.  Jeez, are Catholics the only Christian sect that doesn't spend time teaching its members that Mormons are Satanists not Christian? 

Posted by: Y-not at October 20, 2010 04:45 AM (osFsP)

32 Obama has plans for a 1% tax on all bank transactions, including ATM cards.

Will the peasants revolt?

Posted by: Ed Anger at October 20, 2010 04:45 AM (7+pP9)

33

And yes, all retail jobs start at minimum wage, but most don't stop there unless it is one of those little "mom & pop" stores that everyone complains is getting run out of business.

Posted by: Vic at October 20, 2010 08:39 AM (/jbAw)

But I thought WalMart jobs hit $10 an hour after the first 3 months (what  I assume you mean by trial period) instead of as I saw and some of the stories noted that its minimum wage for some time (a year when I was there).

They may have hired more people here recently, but for the time many of the stories come from they were so understaffed it was ridiculous.

Posted by: jarod at October 20, 2010 04:46 AM (SN4+f)

34 I LOVE Americana songs from the 20's-30's, Gershwin's era, and the big band versions of those in the 40s along with the novel boogie swing.

You would probably love this one then. I recently got it and have played it to death on my wlaks and porch-rocker days.

http://tinyurl.com/2vbjxo2

Posted by: Vic at October 20, 2010 04:46 AM (/jbAw)

35 ps: My favorite Louis Prima (cover) is "Heap Big Smoke (Not Much Fire)".  Can't find it on the web, but I have it on CD. 

He was great.  Too bad he was kind of a prick to Keeley Smith. 

Posted by: Y-not at October 20, 2010 04:48 AM (osFsP)

36 But I thought WalMart jobs hit $10 an hour after the first 3 months (what  I assume you mean by trial period) instead of as I saw and some of the stories noted that its minimum wage for some time (a year when I was there).

I suspect that the "trial period" is different in different stores. Most large businesses use 6 months for a trial period.

In any case minimum wage is not permanent except in "mom and pop" stores. My daughter who was laid off twice after all this crap started wound up at a mom and pop store making minimum wage. She turned down a higher starting wage at Wal-Mart because she would have had to work shift work.

She has been at the small store for over a year now and is still making minimum wage.

Posted by: Vic at October 20, 2010 04:51 AM (/jbAw)

37 Be not ill at ease for your victory Monty. For your legion of cobbled together war machines and hordes of Gay Hipster Warriors shall sweep the wasteland clean of Senior Citizens and yield to you ultimate dominion.

Posted by: maddogg at October 20, 2010 04:52 AM (OlN4e)

38 Damned descent writing for this early in the morning.  They must have upped the quality of the meds in your ward, what?

Posted by: Hussein the Plumber at October 20, 2010 04:52 AM (RkRxq)

39 Walmart here (Utah) is pretty well run.  It was horrible in SoCal, but here it is so much of a mainstay/necessity that the drop off in service is not appreciable.  It's not really low-rent seeming. 

I know the Home Depot founder gets a lot of play in conservative circles for his comments against the administration, but can anyone honestly say Home Depot (or Lowes) is a well-run company, especially when it comes to customer service?  I've never seen a place with so many staff members and such poor service.  Quality control on the products is poor, too.  That show Reaper (in which the main characters worked at one of those stores) sure nailed it. 

Posted by: Y-not at October 20, 2010 04:53 AM (osFsP)

40 Her "love interest" and then departure was supposed to provide him with the "blues" so he could perform the "blues". Yeah. I just didn't much care for Jami Gertz in the part -- she didn't fit, somehow. But the movie, cornball as it is, is still one of my favorites. Every suburban white kid who ever loved the blues identifies with that movie. And the soundtrack is great. (We're talking about the 1986 Ralph Macchio movie Crossroads, by the way.)

Posted by: Monty at October 20, 2010 04:54 AM (4Pleu)

41

Posted by: Vic at October 20, 2010 08:51 AM (/jbAw)

At WalMart there is/was a 3 month and a 1 year period.

After working there (for a bit more than minimum wage due to shift), I'd much rather do minimum wage at most Mom&Pops.  Well, not now but if I were younger or had no choice.

Posted by: jarod at October 20, 2010 04:55 AM (SN4+f)

42 Some of us will not return. The geezers know of our presence, and are prepared. They will meet us with phalanxes of walkers; with Scoot-A-Bouts massed for defense; with checmical warfare (primarily Mentholatum and Dr. Sprott's Deep Heating Salve); with pureed peas and mashed potatoes and prune juice.

Gooooood things are comin' , free mashed patatahs and pruuuuune juice! Mmmm-mmmm, ah think yer gonna like it

Posted by: Andy Griffith at October 20, 2010 04:57 AM (vdfwz)

43 ps: My favorite Louis Prima (cover) is "Heap Big Smoke (Not Much Fire)".  Can't find it on the web, but I have it on CD. 

He was great.  Too bad he was kind of a prick to Keeley Smith. 
Posted by: Y-not at October 20, 2010 08:48 AM (osFsP

It looks like that song is only available on the album "Say It with a Slap" which is available only as an MP3 download. I have never heard that one.

And yeah, too bad about Keely but that is the way most of these "entertainer" marriages work out.

Posted by: Vic at October 20, 2010 04:59 AM (/jbAw)

44 (We're talking about the 1986 Ralph Macchio movie Crossroads, by the way.)
Posted by: Monty at October 20, 2010 08:54 AM

Ralph Macchio? I thought that was Rachel Maddow

Posted by: kbdabear at October 20, 2010 04:59 AM (vdfwz)

45 I know this is off-topic, but . . .

"To know that I've tested positive as a result of a product that I used for personal reasons is extremely difficult to wrap my hands around."

This, from LaShawn Merritt, world-class runner, suspected of using a steroid that he says is simply an over-the-counter penis enlargement drug.

Sounds like it worked.

Posted by: Boris Yeltsin at October 20, 2010 05:02 AM (4sQwu)

46 While the Obama Administration wants to spend even more money we don't have, check out what they're doing across the pond.

U.K. announces biggest budget cuts since WWII as part of austerity measures aimed at clearing the nation's debts http://bit.ly/aO4pko

Posted by: Kratos (Ghost of Sparta) at October 20, 2010 05:02 AM (9hSKh)

47 While the Obama Administration wants to spend even more money we don't have, check out what they're doing across the pond.

Yes, isn't it funny that the rest of the world is running away from communism ad socialism as fast as they can and Obama is pushing us into it as fast as he can.

And they wonder why "mom and pop" are out in the streets.

Posted by: Vic at October 20, 2010 05:05 AM (/jbAw)

48

Big news of the DADT front.

Three discharged gay soldiers try to reenlist.

It was all worth it. The military has replenished its ranks.

Huzzah

Posted by: Ben at October 20, 2010 05:07 AM (wuv1c)

49 I know why Georgia's pink.  It's because every contractor from Rome to St. Mary's started clearly land like beavers on acid and building houses....and building houses and building houses.

We're talking 100+ year old acres of timber, gone in a few years.  

At first their houses sold.  All of them.  Then fewer.  And fewer.  Even when they were practically selling them for gum wrappers to homeless guys.  Now, that building boom has stopped and in my county  alone sits several subdivisions with massive cleared tracts and empty houses.

Seems you even run out of gum wrappers and the trees are growing back. It ALSO seems you can't sell more houses than there are people who can buy them.

Posted by: EZB at October 20, 2010 05:10 AM (fa9yq)

50

In any case minimum wage is not permanent except in "mom and pop" stores. My daughter who was laid off twice after all this crap started wound up at a mom and pop store making minimum wage. She turned down a higher starting wage at Wal-Mart because she would have had to work shift work.

She has been at the small store for over a year now and is still making minimum wage.

small businesses like that can't afford to pay more. The position is a permanent minimum wage job. It's not like walmart who conitually growing, the mom and pop is stagnant. it's goal is to meet the bills and squeek out a little profit. Whereas there is a Walmart about 10 miles from me that clears 2 million a day in sales.

Posted by: Ben at October 20, 2010 05:11 AM (wuv1c)

51

Ed,

"Obama has plans for a 1% tax on all bank transactions, including ATM cards."

 Got a link? I'd love to see it.

Posted by: Ernie McCracken at October 20, 2010 05:13 AM (jmf9+)

52

While the Obama Administration wants to spend even more money we don't have, check out what they're doing across the pond.

I just got back on Sun. it was huge news over there. Same suspects complaining too, public workers and welfare queens. It's for the kids, you're services (police,fire) will be affected... Posters were all over NI and Scotland to protest but to me, it seemed the average person knew the gravy train had come to an end and it's time to tighten up.

Posted by: Cu'Chulainn at October 20, 2010 05:13 AM (oW269)

53 52 Big news of the DADT front.

Three discharged gay soldiers try to reenlist.

It was all worth it. The military has replenished its ranks.

But, but, those three discharged gay soldiers were the only Arabic and Farsi speakers the military had!

~Channeling the ridiculous meme the libs were saying about DADT and translators back in the early 00's. 

Posted by: Kratos (Ghost of Sparta) at October 20, 2010 05:14 AM (9hSKh)

54 Yeah EZB I had a nephew involved in that building boom. He was living high on the hog for a while. I told him to be prepared for it all to collapse because it couldn't hold up.

He started out working after school for a lumber yard/building supply chain much like Lowes, only local. After he graduated from HS he declined going to college and started working there permanent.

He was soon pulling in over 100K/yr in salary and bonuses as a job site contractor for the products. Sadly, he didn't believe me when I said it was all going to crash. He is living a much more frugal life now.

Posted by: Vic at October 20, 2010 05:15 AM (/jbAw)

55 52 Big news of the DADT front.

Three discharged gay soldiers try to reenlist.

It was all worth it. The military has replenished its ranks.

But, but, those three discharged gay soldiers were the only Arabic and Farsi speakers the military had!

~Channeling the ridiculous meme the libs were saying about DADT and translators back in the early 00's. 

Yeah, that's the point I was trying to make. I never served, and my personal feelings on DADT don't particularly mattter, but I love it when we are sold a bill of goods and it comes time to pay up.

Since DADT came into existence, the media gave us stats saying some 30,000 people left the military because they were gay, and as you mentioned, specifically our translators. (which makes sense actually, because the Arabia today is much like Wilhelmine Germany, so macho, masculine, and militaristic that is replete with closets homos.)

And finally DADT is repealed and what happens? Three people show up?

I want the media to reinterview all of those jackasses they have been over the years who kept saying, "If it wasnt for DADT I would reenlist".

It's never happen, three people? hilarious.

 

Posted by: Ben at October 20, 2010 05:18 AM (wuv1c)

56 @Jarod - See, that's funny.  I've known several people who have worked at Wal-Mart before, and none of them had any major complaints.

Here's the thing: Wal-Mart (Until you get into management) tries to hire high-schoolers, college kids, married people looking for a second (or third) income, or seniors.  The thing about all of these demographics is that they mostly are not trying to make a "living wage."  If you went to Wal-Mart and expected to live on high-hog, you were in the wrong line of work.

Additionally, I've only rarely had problems with employees at Wal-Mart stores.  Oh, I remember in the 90's (after Sam sold the company to his kids) when employees were belligerent and hard to find, but in the late 90's and early 2000's that mostly changed, and now I rarely (if ever) have a problem.

I think people like to hit Wal-Mart because they're an easy target, but when I compare the service I get there (to say nothing of the prices) to the service I get at, say, Target or Kroger (depending on what I'm buying) I'll go to Wal-Mart every time.  If people don't like working there, they don't have to.

My old economics teacher in high school used to tell us, "If what you're doing isn't worth minimum wage to you, stop doing that and do something that is."  He was mostly referring to free time (if you were bored, get a job), but he was also referring to when you're working: if you believe what you are doing should be worth more than the wage you're being paid, get a different job.  If you can't, then you were obviously wrong about the value of your work.

Posted by: AllenG at October 20, 2010 05:19 AM (8y9MW)

57 @9 Where are you at now?

Posted by: Vic at October 20, 2010 07:53 AM (/jbAw)

Charlottesville- with UVa here, the county is almost all transplants, it is not as much of a small town mindset as Lynchburg. Good schools, which was important as we had 3 kids still in middle school/starting high school.

Posted by: Museisluse at October 20, 2010 05:20 AM (DTfXb)

58

How a foreigner sees the Tea Party: http://tinyurl.com/23fhdw7

Pretty astute if you ask me.

Posted by: Hussein the Plumber at October 20, 2010 05:21 AM (RkRxq)

59 @Monty,

Apropos of very little; I love the word "fractious." Thanks for using it.

Posted by: CharlieBrown'sDildo ( NJConservative) at October 20, 2010 05:22 AM (LH6ir)

60 Charlottesville- with UVa here, the county is almost all transplants, it is not as much of a small town mindset as Lynchburg.

I suspect Charlottesville has more of a "Northern" mindset than a Southern one.

Posted by: Vic at October 20, 2010 05:24 AM (/jbAw)

61

If this gets legs, it will be just the tip of the iceberg, imo.

http://tinyurl.com/2dvsazj

There was a pot full of outright fraud being committed by the big banks just prior to the collapse that is being litigated but is not being reported on.  These banks are massively exposed and there are 100s of billions at risk here.

Posted by: Hussein the Plumber at October 20, 2010 05:27 AM (RkRxq)

62 Go to redstate and read about coming collapse of multi-employer union pension funds. This is one of the reasons they want our 401k's. Last company standing owes all pensioners. Insane. I'm on blackberry so won't try linking.

Posted by: texette at October 20, 2010 05:29 AM (+61wI)

63 #64  I suspect Charlottesville has more of a "Northern" mindset than a Southern one.

I have friends there.  From what I've seen and heard, I would agree with that thought, especially since it is a college town too. 

/Saw way too many Kaine and other assorted moonbat signs/bumperstickers there.

Posted by: Kratos (Ghost of Sparta) at October 20, 2010 05:30 AM (9hSKh)

64 68 Notoriously lib now like Chapel Hill.

Posted by: dagny at October 20, 2010 05:31 AM (N1fth)

65 I think people like to hit Wal-Mart because they're an easy target They've been one of the central-casting villains in the leftist universe for a long time (mainly due to their opposition to unionization and their purported ability to drive local businesses under). I posted a story yesterday about the town of Turlock, CA -- in 2004 they chased Wal-Mart out, wanting to preserve the tone and tenor of the place (yeah...Turlock); in 2010, they're practically kissing Wal-Mart's corporate ass to get a supercenter in the depressed area. I prefer Target to Wal-Mart myself, but I think the leftist hostility to Wal-Mart is stupid. Without Wal-Mart, much of rural America would be far more ill-served in a retail sense that it is now. You can rhapsodize about the old mom-n-pop stores all you want, but they were often expensive, open limited hours, and had a very limited selection.

Posted by: Monty at October 20, 2010 05:31 AM (4Pleu)

66 O/T:  "Bush told the crowd: "Here's what you learn. You realize you're not it. You're a part of something bigger than yourself."

link

Posted by: curious at October 20, 2010 05:31 AM (p302b)

67 Tylenol is acetaminophen, not aspirin. Sigh. I was just waiting for someone to make this observation. We must sometimes sacrifice accuracy on the altar of humor, my friend. "Aspirin" just sounds funnier.

Posted by: Monty at October 20, 2010 05:33 AM (4Pleu)

68

Tylenol is acetaminophen, not aspirin.

Sigh. I was just waiting for someone to make this observation. We must sometimes sacrifice accuracy on the altar of humor, my friend. "Aspirin" just sounds funnier.

Get me another Piran tablet!

Posted by: Ben at October 20, 2010 05:36 AM (wuv1c)

69

@67

It is a good article. I will link it.

Posted by: maddogg at October 20, 2010 05:40 AM (OlN4e)

70 You can rhapsodize about the old mom-n-pop stores all you want, but they were often expensive, open limited hours, and had a very limited selection.

Posted by: Monty at October 20, 2010 09:31 AM (4Pleu)

I agree 100%. If we didn't have a Wal-Mart supercenter here I would probably be getting 90% of my non-grocery items from the internet.

There are very few items that I get from stores here other than Wal-Mart and none of them are "mom and pop" stores. The last mom and pop store I used to frequent was ran by a friend of mine who dealt in Sony electronics and repair. He retired and closed the store last year.


Posted by: Vic at October 20, 2010 05:41 AM (/jbAw)

71 The Fat Man is going to have his work cut out for him in NJ, that's for sure: http://tinyurl.com/2939sgm base salary for NJ Turnpike toll collectors: $74K not bad for sitting on your ass watching tv and snarling at people all day

Posted by: BlackOrchid at October 20, 2010 05:42 AM (SB0V2)

72 @68. 69. THe city of Charlottesville, which includes UVa is very liberal. The surrounding counties, not so much. Unless, of course, you are around any of the UVa professors' houses. The smell of smug is strong behind their matching Priusi with the "coexist" and Obama bumper stickers.

Posted by: Museisluse at October 20, 2010 05:43 AM (DTfXb)

73 I think people like to hit Wal-Mart because they're an easy target, but when I compare the service I get there (to say nothing of the prices) to the service I get at, say, Target or Kroger (depending on what I'm buying) I'll go to Wal-Mart every time.

Yeah, I basically agree, although I've found the service I get at a chain to be influenced by where I am.  The worst service I've gotten has been at Kohls stores in SoCal and any Home Depot or Lowes.  Target was my "favorite" store in Indiana, but in the ones I've been to in SoCal they're not nearly as good.  Here in Utah, Target is about the same as Walmart, better grocery section but worse electronics section.  Service is about the same. 

The other thing people nail Walmart on is how they acquire their land, which I gather is considered to be done in a more ruthless way.  But I really don't know the details, just that conservationists and preservationists tend to say that Walmart is more aggressive about it.  Could be, I suppose. 

But the ironic thing about Walmart, from the standpoint of folks who supposedly care about conservation, is that they have been a leader in driving suppliers to be more efficient, both in terms of packaging (reducing solid waste) and energy consumption (supply chain mgmt).  Now they only care about packaging because they want to pack more product into shelves, but that's fine -- it still reduces waste.  So if you are really a greenie, you should love Walmart.

Personally, I enjoy old-fashioned outdoor shopping districts with little shops and the variety you get from non-chain stores, but that's a different type of shopping from the "I need a mop at 11:30 at night on a Sunday" shopping that Walmart fills. 

Chacun a son gout.  Demonizing Walmart is a waste of time and spirit. 

Posted by: Y-not at October 20, 2010 05:44 AM (osFsP)

74 maddog: I'm going to link that article in the sidebar.

Posted by: Monty at October 20, 2010 05:44 AM (4Pleu)

75 base salary for NJ Turnpike toll collectors: $74K

not bad for sitting on your ass watching tv and snarling at people all day

Posted by: BlackOrchid at October 20, 2010 09:42 AM (SB0V2)

That is a prime example of why public service unions are such a ripoff. Collecting tolls is a pure no-skill job. Not low skill, no skill. Hell a grammar school drop out can do it as long as he can make change. I am sure they have a "McDonald's style" cash register for them to help with that.

Making 75K a year is ludicrous for that job.

Posted by: Vic at October 20, 2010 05:45 AM (/jbAw)

76

55

Ed,

"Obama has plans for a 1% tax on all bank transactions, including ATM cards."

 Got a link? I'd love to see it.

Posted by: Ernie McCracken at October 20, 2010 09:13 AM (jmf9+)

Somebody mentioned it on my local talk radio station yesterday morning. The host looked it up on Snopes where it said it was part true/part false. Knowing the left slant at Snopes, it's probably mostly true.

Posted by: Ed Anger at October 20, 2010 05:46 AM (7+pP9)

77 not bad for sitting on your ass watching tv and snarling at people all day Tollbooth Willie (NSFW)

Posted by: Monty at October 20, 2010 05:48 AM (4Pleu)

78 Lead bullion is the new gold!

Posted by: Fritz at October 20, 2010 05:49 AM (GwPRU)

79

Campaign commercials now passing for news in Philly:

http://tinyurl.com/38bhz7p

Now that's progressive.

Posted by: Hussein the Plumber at October 20, 2010 05:52 AM (RkRxq)

80 85. Yeah, that twaddle from AP was also put under "Local News" in our little dub-C rag, the Daily Local. lots of funny comments which made me proud of my neighbors, tho. gave me a little hope. Inky commenters tend to be complete loons OTOH. The article I linked re: toll booth salaries mentions that some were getting upwards of $300K. It's absolutely appalling. That thing maddog pointed out needs to be looked at - by everyone - quick!

Posted by: BlackOrchid at October 20, 2010 05:55 AM (SB0V2)

81 That multi-pension financial boondoggle in that link would be easily solved under the old legal rules.

Union contracts driving you under? File bankruptcy, break the contract and screw the unions.

Under Obama if you file bankruptcy the union gets the company and the investors gets screwed.

Soon there will be no investors. So what do you have when there are no investors to invest "capital"?

Posted by: Vic at October 20, 2010 05:55 AM (/jbAw)

82 Thanks, maddog and Monty. My link fu is pitiful.

Posted by: texette at October 20, 2010 05:57 AM (TATbF)

83

base salary for NJ Turnpike toll collectors: $74K

not bad for sitting on your ass watching tv and snarling at people all day

That is a job I honestly believe we could train a helper monkey to do. And there would probably be a decrease in the amount of feces flinging.

Posted by: Ben at October 20, 2010 05:58 AM (wuv1c)

84 Mish has a fascinating post up at his place that anyone interested in the foreclosure mess ought to read. A juicy quote: ""To repeat: if the chain of title of the note is broken, then the borrower no longer owes any money on the loan." And lots of chains-of-title were broken in those Alt-A and subprime loans, folks. A lot. The ripple effects are going to be huge if banks have to buy back all this bullshit paper they issued.

Posted by: Monty at October 20, 2010 06:00 AM (4Pleu)

85 can't wait for the headlines thread to go on and on about my hero, Chris Christie - he wants to hire Rhee! to replace that scumbag he fired for lying! brilliant he is taking away the "Black Friday" holiday from state workers! And he's looking at the ridiculous NJ Turnpike toll collector salaries. love love love love

Posted by: BlackOrchid at October 20, 2010 06:01 AM (SB0V2)

86 That is a job I honestly believe we could train a helper monkey to do.

It seems to me that lots of these jobs could/should be eliminated through automation.  Certainly between those EZ Pass thingies for regular commuters and the little change catching buckets, you can automate most of the toll booths and just have one or two people available if something breaks down. 

Posted by: Y-not at October 20, 2010 06:02 AM (osFsP)

87

base salary for NJ Turnpike toll collectors: $74K

not bad for sitting on your ass watching tv and snarling at people all day

NJ needs to offer a significant discount for drivers who use EZ Pass, and bring toll booth collectors down to minimum staffing. Charge a higher toll for non-EZ pass users to make up for the losses caused by the discount.

Posted by: Museisluse at October 20, 2010 06:02 AM (DTfXb)

88 A juicy quote: ""To repeat: if the chain of title of the note is broken, then the borrower no longer owes any money on the loan." And lots of chains-of-title were broken in those Alt-A and subprime loans, folks. A lot.

How in the shit do they think that? What is their legal basis?

Posted by: Vic at October 20, 2010 06:02 AM (/jbAw)

89 @94 Y-not:

I should learn to type faster.

Posted by: Museisluse at October 20, 2010 06:03 AM (DTfXb)

90 I should add that Mish disagrees that the loan is null and void if the chain-of-title is broken, but I think he's wrong in a legal sense (if not the ethical -- if you borrow money, you're obligated to repay). You own money to sombody in the case defined above, but who? If no one can establish legal ownership of your debt, then legally, you don't owe the debt to anybody.

Posted by: Monty at October 20, 2010 06:03 AM (4Pleu)

91 92. Mallamutt I hate to be snobby, I'm really not. But where I live is a very bland and normal place . . . and yet when the WalMart opened here, it was like - literally I see people in the Wally Mart that just don't seem to fit with any other store in the area! it's so weird. like the store comes with it's own trashy customer base. I run into people I know at every store around here. But not WalMart. Are they aliens?

Posted by: BlackOrchid at October 20, 2010 06:03 AM (SB0V2)

92

Ed,

"Somebody mentioned it on my local talk radio station yesterday morning. The host looked it up on Snopes where it said it was part true/part false. Knowing the left slant at Snopes, it's probably mostly true."

 The Durbin Amendment has the payments industry shitting egg rolls. The last thing it needs is punitive taxation.

Posted by: Ernie McCracken at October 20, 2010 06:04 AM (jmf9+)

93 92 My only complaint about Wal-Mart. The other people who shop their. Slovenly, ill-kempt, borish and self-absorbed.

Regrettably, that's just kind of people everywhere.  You could certainly apply those last two adjectives to anyone behind the wheel of a vehicle, especially when they're looking for a parking space. 

Again, though, I mostly think that the demographics have to do with where your Wal-Mart is.  Urban Wal-Marts are very different in feel from rural ones.  The latter are simply the new versions of Sears or "Monkey Wards". 

Posted by: Y-not at October 20, 2010 06:05 AM (osFsP)

94 Mish errs, I think, in assuming that the legal problems with this "robo-signing" stuff are minor technicalities. They're not, and there are political overtones to it that he's discounting. It's not clear to me that a court would simply wave off the "irregularities" in the transfer of the mortgage note; the law is technical, and if the chain-of-title is technically broken, then it's broken. Another complication in this can of worms is that a lot of the principals -- originators, servicers, etc. -- are out of business now, or have been bought out by other companies (much like Countrywide was consumed by BofA). I'm betting that a lot of the paperwork is simply gone, never to be found again. It's a hairball, and no mistake.

Posted by: Monty at October 20, 2010 06:09 AM (4Pleu)

95 Lollar statement responding to Steny Hoyer's "I'm coming after you" threat/promise. 

He sounds a little tired in this presser (and I wish he either had a light blue shirt on or a tie), but I love this guy.

Posted by: Y-not at October 20, 2010 06:11 AM (osFsP)

96 Since someone else posted O/T, I'll toss this out about Presbyterians, scouts, and Mormons.  Jeez, are Catholics the only Christian sect that doesn't spend time teaching its members that Mormons are Satanists not Christian? 

Posted by: Y-not at October 20, 2010 08:45 AM (osFsP)

While I'd like the think the RCs are above that, it may just be that they still haven't decided whether the Lutherans are yet, and Mormons are in the queue until then.

Posted by: Oldcat at October 20, 2010 06:13 AM (CN+Qv)

97 Good morning Mutt!

I think I remember you.  IIRC, you were the fool who was saying the health care bill wouldn't pass,  and I had to correct you by saying the Dems had the votes (and plenty to spare), which was correct, of course.  That was an interesting day.

Oh, just a word about the new PA shock poll from Muhlenberg that shows Toomey now losing by 3.  I know how you guys like to attack pollsters (like PPP), and their sample was awful  But Muhlenberg's partisan breakdown was 46 Dem and 46 GOP, which is probably slanted to the Republicans.    Nice talking to you again Mutt.  It was fun owning you on the health care vote and it will be fun owning you on election day.

Posted by: Greg at October 20, 2010 06:14 AM (huyI8)

98 83 not bad for sitting on your ass watching tv and snarling at people all day

Tollbooth Willie (NSFW)

I hail from "Wistah" (Worcester) MA as in "Welcome to Wistah".
Sadly, we do kinda talk like that sometimes.

Posted by: Lincolntf at October 20, 2010 06:17 AM (V/C0X)

99 While I'd like the think the RCs are above that, it may just be that they still haven't decided whether the Lutherans are yet, and Mormons are in the queue until then.

My Dad is (and my mom was) "Shi'a" Catholics, super dooper strict.  We were raised that way.  I attended a Catholic college.  And I've never heard either a priest or another Catholic spend any time berating or analyzing other religions.  I think we are closer to the Mormons in that regard.  We spend more time picking on ourselves and holding ourselves to strict rules than we do thinking about what other folks are doing. 

I've been to a Lutheran service.  It seemed pretty damned close to ours.  But that was 30 years ago.  Perhaps the Lutherans have drifted since then.

Posted by: Y-not at October 20, 2010 06:18 AM (osFsP)

100 Okay, I found it:

The Debt Free America Act' Will Dip Into Your Pocket

It's known as HR 4646, the "Debt Free America Act" and it states as purposes of this act the raising of sufficient revenue from a fee on transactions to eliminate the national debt within seven years and the phasing out of the individual income tax.

It amends the Internal Revenue Code to impose a 1% fee, offset by a corresponding non-refundable income tax credit, on transactions that use a payment instrument, including any check, cash, credit card, transfer of stock, bonds, or other financial instrument.

It defines "transaction" to include retail and wholesale sales, purchases of intermediate goods, and financial and intangible transactions and establishes in the Legislative Branch the Bipartisan Task Force for Responsible Fiscal Action to review the fiscal imbalance of the federal government and make recommendations to improve such imbalance. It provides for expedited consideration by Congress of Task Force recommendations.

The law repeals after 2017 the individual income tax, refundable and non-refundable personal tax credits, and the alternative minimum tax (AMT) on individuals, and directs the Secretary of the Treasury to: (1) prioritize the repayment of the national debt to protect the fiscal stability of the United States; and (2) study and report to Congress on the implementation of the Act.

This bill is in the first steps of the legislative process. Introduced bills and resolutions first go to committees that deliberate, investigate and revise them before they go to a general debate. The majority of bills and resolutions, however, never make it out of committees.

Posted by: Ed Anger at October 20, 2010 06:19 AM (7+pP9)

101 @112  
I confess, I never realized Presbyterians were considered to be evangelical. 

Posted by: Y-not at October 20, 2010 06:23 AM (osFsP)

102 Posted by: Y-not

I'm also Catholic, with relatives all up and down the religiosity scale. If ten of us are in a room, there's probably nothing more than four of us can agree on, whether we're talking about politics, Religion, sports, what time of day it is, etc. 
It's a fool's errand to try to pin down an American "Roman Catholic position" on anything.

Posted by: Lincolntf at October 20, 2010 06:24 AM (V/C0X)

103 But Muhlenberg's partisan breakdown was 46 Dem and 46 GOP, which is probably slanted to the Republicans.

How about a link to the internals, Greg.

Posted by: Ed Anger at October 20, 2010 06:25 AM (7+pP9)

104

It amends the Internal Revenue Code to impose a 1% fee, offset by a corresponding non-refundable income tax credit, on transactions that use a payment instrument, including any check, cash, credit card, transfer of stock, bonds, or other financial instrument.

great, there is no escape.

except maybe going back to the barter system, of trading labor for labor.

Posted by: Ben at October 20, 2010 06:26 AM (wuv1c)

105 The late-night mop shopping is right. I was just in England (more on higher Ed later) but I tried to find dental floss at 9pm. Good luck. On the other hand, that could have been specific to the dental floss what with being in England.

Posted by: AmishDude at October 20, 2010 06:27 AM (PH1Bs)

106

Every day we lurch forward to full knowledge of the fact retail banks are insolvent.

This is indeed the age of turbulence.

Gold and silver and non-dollar denominated assets are key.

Trust journolist.  The econmic wheel is falling off. That is why insiders are selling on a gazillion to one ratio to exit the market.

 

Posted by: journolist at October 20, 2010 06:27 AM (O/NP5)

107 It's a fool's errand to try to pin down an American "Roman Catholic position" on anything.

Sure, as individuals, but by its very nature (one holy and apostolic church) there is a well-defined stance from the Church.  There is no American RC church, even if the USCCB forget that sometimes. 

I guess my point is that it is both surprising (and disappointing) to me that Christian sects are officially teaching their congregants that Mormons aren't Christians.  My impression is that it is the evangelical sects that have hang ups about Mormons (and usually Catholics as well).  The older Protestants sects don't seem to be spending time thinking about it. 

Posted by: Y-not at October 20, 2010 06:28 AM (osFsP)

108 #116  How about a link to the internals, Greg.

I don't see that recent poll on the Muhlenberg College Polling Institute website yet (the last one was posted was 2 weeks ago).

But 15% undecided?  That seems too big a number for me, given how close we are to election day. 

Posted by: Kratos (Ghost of Sparta) at October 20, 2010 06:31 AM (9hSKh)

109 I deliberately put American outside the quotes to make that point, but in terms of electoral politics they are the only ones I wanted to reference. I probably should have paid more attn to my post.
I totally agree with your point re: Mormons. 

Posted by: Lincolntf at October 20, 2010 06:32 AM (V/C0X)

110 I guess my point is that it is both surprising (and disappointing) to me that Christian sects are officially teaching their congregants that Mormons aren't Christians. Well, in my Church (Baptist), we were always taught that if you hewed to the Nicene Creed, then you were a Christian. After that, it boiled down to interpretation and ritual more than anything else.

Posted by: Monty at October 20, 2010 06:33 AM (4Pleu)

111 "poll from Muhlenberg that shows Toomey now losing by 3" Excuse me, poll by whom? The number that pops out in your analysis is not 46 or 46 but 8. 8% independents? Nice try, Greg. Oh and I'm glad you've dropped the concerned conservative schtick. I guess being an inveterate liar is second nature to Democrats.

Posted by: AmishDude at October 20, 2010 06:34 AM (PH1Bs)

112

116  How about a link to the internals, Greg.

I don't see that recent poll on the Muhlenberg College Polling Institute website yet (the last one was posted was 2 weeks ago).

But 15% undecided?  That seems too big a number for me, given how close we are to election day. 

the guys an ass.

Toomey will win by at least 5.  Corbett is popular and going to beat Onorato by at least 9 or 10. Those 9 or 19 percent of people aren't going to then vote for sestak.

 

There are hundreds of polls, he finds one he likes, that i don't have any evidence exists after looking online, and provides internals without linking to them.

 

Toomey is going to be a senator for the next 6 years.

Posted by: Ben at October 20, 2010 06:34 AM (wuv1c)

113

Oh good.  I turn on Fox right as I wake up and Alan Colmes is being bizzarely combative for no apparant reason.  His blind obedience to Obama and the pure sophistry coming out of his mouth is really nice to wake up to.

I've got a question.  How did this guy rise to become a well known tv personality?  I mean yeah, Hannity got tired of his antics, but he's still being paid for the crap he spews.  Its just not right that millions of well educated people are out of work, but this asshole is pulling down a paycheck.  Seriously folks.

I wonder if he's the kind of employee that everyone hates and never actually talks to.. hehe.   Yay! Obama! Yay Social Justice!  Gimme my undeserved paycheck... now you capitalist pig!! 

I'm for the little guy!  (oh.. i'm making more than they'd ever hope too? errr social justice!!! workers of the world unite!!!  Just dont do your social justice with my paycheck)

 

If I hear 'social justice' come from another well-off liberal asshole, I might just level' em.  If we can thank Beck for one thing, its making social justice a 'cringe' inducing phrase.. haha

Posted by: John Frum at October 20, 2010 06:35 AM (qQG8/)

114

 I guess my point is that it is both surprising (and disappointing) to me that Christian sects are officially teaching their congregants that Mormons aren't Christians.

Well, in my Church (Baptist), we were always taught that if you hewed to the Nicene Creed, then you were a Christian. After that, it boiled down to interpretation and ritual more than anything else.

I belong to the church that Nikki Haley does, althought Temple might be a more accurate description. The only test that proves your loyalty to the faith is eating the beating heart of your first human sacrifice victim. Bonus points if it is an innocent gentile child.

Posted by: Will Forks at October 20, 2010 06:36 AM (wuv1c)

115 You know what would be 'social justice'?  If the government would just leave society alone.  That would be justice.

Posted by: chemjeff at October 20, 2010 06:38 AM (RY/Dc)

116 Oh so Greggy has come out of the closet as a true drooling libtard?  What a surprise (not).

Posted by: chemjeff at October 20, 2010 06:39 AM (RY/Dc)

117 I guess my point is that it is both surprising (and disappointing) to me that Christian sects are officially teaching their congregants that Mormons aren't Christians.  My impression is that it is the evangelical sects that have hang ups about Mormons (and usually Catholics as well).  The older Protestants sects don't seem to be spending time thinking about it. 

Posted by: Y-not at October 20, 2010 10:28 AM (osFsP)

Note, the Book of Mormon includes teachings that are in addition to that which is already contained within the bible; the bible has been accepted throughout christendom, this is factual.  It needs to be underscored that this is not an argument of judgment as one of theological purity within the parameters of christendom.  

Posted by: journolist at October 20, 2010 06:39 AM (O/NP5)

118 My Dad is (and my mom was) "Shi'a" Catholics, super dooper strict.  We were raised that way.  I attended a Catholic college.  And I've never heard either a priest or another Catholic spend any time berating or analyzing other religions.  I think we are closer to the Mormons in that regard.  We spend more time picking on ourselves and holding ourselves to strict rules than we do thinking about what other folks are doing. 

I've been to a Lutheran service.  It seemed pretty damned close to ours.  But that was 30 years ago.  Perhaps the Lutherans have drifted since then.

Posted by: Y-not at October 20, 2010 10:18 AM (osFsP)

I am Catholic myself, and it was the same thing - although once my mother and I were at a mass in DC and were both disgusted that the sermon was about some pending legislation or another. Not what we were used to at all. A two thousand year old organization should take a longer view of things.

It's fun to play up the looming 'evil empire' aspect when you get flack about the threat of Popishness from the occasional insecure Protestant.

I suppose part of the reason we don't go on about Protestant is that there is the thought that if we'd managed things better there wouldn't be any Protestants. Kind of like thinking about your ex-wife.

Since the Lutherans were an early split, they kept a lot of the old forms - I think the technical term for it is "High Church" protestantism, as opposed to "Low Church" where each congregation more or less controls itself, and the heirarchy above that level is rudimentary or absent. Lutherans have bishops above the church level, but not sure of anything above that but a congress. Anglicans have the whole old Catholic tree in England ending at the Archbishop of Canterbury.

Posted by: Oldcat at October 20, 2010 06:39 AM (CN+Qv)

119 @79 - Yeah, service is going to differ store-to-store even within a region: I don't get bad service in any of my local stores (in a suburb of a suburb of Dallas), but when I have to go into one of the "real" cities, it almost always makes me cringe- no matter what store it is.

As far as how they get their land: they're the 800-lb gorilla, and they act like it.  It is exactly the same as how they treat their vendors (adopt this kind of packaging or we won't feature your product) and their service vendors (inside baseball, but they use their own "modified" version of standard ANSI X12 EDI documentation and refuse to change- since they know they're big enough they don't have to).

Basically, they pick a piece of land, and they buy it.  They're able to throw loads of money at it so, conversely, they get it fairly cheap (don't ask me how, I'm not privy, but I've been in a couple towns where Wal-Mart moved a Super Center in, and that got a lot of complaints).  They don't really care whose toes they step on, and if you're dumb enough to enact one of those "outlaw Wal-Mart" ordinances, they'll either move right outside your jurisdiction (and still take all that business from the "mom-n-pop" stores you were trying to protect) or they'll virtually black-list you and you'll have to beg them to come back when your neighboring towns are all making huge revenues based on sales-taxes collected at Wal-Mart (not to mention the property taxes they pay on the land they buy).

@92 - Then don't hang out in the Mirrors section.  Duh...  (kidding, kidding)

Posted by: AllenG at October 20, 2010 06:42 AM (8y9MW)

120 Monty, have you seen this article by The Mogambo Guru? 

Silver on the rise

Posted by: pity t. fool at October 20, 2010 06:42 AM (BjQSh)

121 You want grade A financial doom? Go over to Karl Denningers site, market-ticker .org. (sorry. too lazy to do tiny url) He's doing lots and lots of bold, Bold, BOLD type, which is never a good sign.

Posted by: shibumi at October 20, 2010 06:42 AM (OKZrE)

122 Well, in my Church (Baptist), we were always taught that if you hewed to the Nicene Creed, then you were a Christian. After that, it boiled down to interpretation and ritual more than anything else.

Posted by: Monty at October 20, 2010 10:33 AM (4Pleu)

Well good thing you left the Arian Heretics out. Darn Goths.

Posted by: Oldcat at October 20, 2010 06:43 AM (CN+Qv)

123 Mr. Huffingslate, since you work at the New York Times, can you get me Maureen Dowd's number?  I think she's HOT!!!!!!!!!!!

Posted by: Greggy Weggy at October 20, 2010 06:43 AM (RY/Dc)

124 What angers me most about "social justice" is the clergy that spout it. What kind of theology is that? If we got "justice" we'd be struck dead immediately and burn for eternity in hellfire. Even karmic justice ain't so nice. Justice is marinated in revenge. What you want is mercy. Besides, I say "social justice" means that the rest of you people who couldn't handle math should be carrying me around in a sedan chair.

Posted by: AmishDude at October 20, 2010 06:46 AM (PH1Bs)

125 I guess my point is that it is both surprising (and disappointing) to me that Christian sects are officially teaching their congregants that Mormons aren't Christians.  My impression is that it is the evangelical sects that have hang ups about Mormons (and usually Catholics as well).  The older Protestants sects don't seem to be spending time thinking about it. 

Posted by: Y-not at October 20, 2010 10:28 AM (osFsP)


I like C. S. Lewis's interpretation: if someone claims to be a Christian, they are.  That's not for us to decide.  On the other hand, we can certainly determine if they are "good" or "bad" (I prefer "practicing" and "non-practicing") Christians...

Of course, most people in my own denomination (the Church of Christ here in Texas) don't see it that way, but they also don't see themselves as a "denomination," so there you go...

Posted by: AllenG at October 20, 2010 06:49 AM (8y9MW)

126 Besides, I say "social justice" means that the rest of you people who couldn't handle math should be carrying me around in a sedan chair.

Posted by: AmishDude at October 20, 2010 10:46 AM (PH1Bs)

Funny how in the moving of wealth from exploiter A to victim B there's always room for a set of administrators and staff with high pay and the ability to look down on both A and B.

Posted by: Oldcat at October 20, 2010 06:49 AM (CN+Qv)

127 Well good thing you left the Arian Heretics out. Darn Goths. Oh, Baptists love to damn other Baptists for being insufficiently proper. That's why there are so many Baptist offshoots. We're so busy daming each other we can't find the time to level the finger of blame at other denominations. I've been to just about every Protestant church there is at various times in my life, and mostly there isn't a dime's worth of difference among them. I choose my church now mainly on the basis of how well I like the preacher and the congregation more than on what denomination it is. I suppose I'll always have a Baptist outlook on life because that's how I was born and raised (and because I had the full-body dunking), but...eh. I just don't understand the drama. A believer in the Nicene Creed is a Brother or Sister in Christ; everything else is above my pay-grade.

Posted by: Monty at October 20, 2010 06:49 AM (4Pleu)

128 127 Oh good.  I turn on Fox right as I wake up and Alan Colmes is being bizzarely combative for no apparant reason.  His blind obedience to Obama and the pure sophistry coming out of his mouth is really nice to wake up to.

I've got a question.  How did this guy rise to become a well known tv personality?
----------------
Ha! I almost posted a rant about it myself. I was especially annoyed by his so-called points that A) people always turn against the incumbents when there's one party in power, so they aren't mad at the Democrats per se and B) the financial difficulties were caused by the unaffordable wars that the Bush administration got us into.

He was *not* this annoying during the Clinton administration.
 

Posted by: Anachronda at October 20, 2010 06:49 AM (6fER6)

129  B) the financial difficulties were caused by the unaffordable wars that the Bush administration got us into.

He was *not* this annoying during the Clinton administration.
 

Posted by: Anachronda at October 20, 2010 10:49 AM (6fER6)

Saddaam held all that bad mortgage paper?

Posted by: Oldcat at October 20, 2010 06:51 AM (CN+Qv)

130 Posted by: Anachronda at October 20, 2010 10:49 AM (6fER6)

Of course he was, it's just that you weren't already so annoyed by everything else, so you had more patience for his annoying personality and sophistry-posing-as-logic.

Posted by: AllenG at October 20, 2010 06:55 AM (8y9MW)

131 @133
Sorry to get us off on religion... but just to clarify.  I understand how "different" the LDS teachings are, including differences in their concept of what we call the Trinity, their concept of Heaven and Hell, etc, but it is at its core a Christian religion.  They are redeemed through accepting Christ. 

Also, I didn't mean to imply (if I did) that Roman Catholics are not extremely strict in their interpretation of how you're supposed to follow Christ.  We certainly are.  My parents (dad especially) would freak out if I converted to any other church, even any other Christian church, because we were/are taught that we are following the one true Church established by Christ. 

It's just that I am completely gobsmacked by the idea that Christians would spend any time picking on others over their religion.  I understand trying to convert people, but I don't understand demonizing them.  So it's not that the Presbyterians didn't want LDS troop leaders -- fine, I guess that's how the Boy Scouts rolls so no problem -- it's that they chose to add that their "reasoning" was that Mormons aren't Christians.  That's just not true. 

You know who I respect?  The Jews.  They don't seem to spend any time at all trying to convert anyone.  If I were to pick a religion purely based on its adherence to principles and absence of annoying self-righteousness, I'd pick Judaism.  (I also enjoy a religion that encourages the consumption of fried foods!)  :-) 

Posted by: Y-not at October 20, 2010 06:58 AM (osFsP)

132 147  Saddaam held all that bad mortgage paper?
------------
Frankly, I'm not certain what his point was. Martha McCallum put up some statistics about how the fraction of disposable income required to pay for housing had gone from 30% in 1950 to 125% now and his response was *squawk* unaffordable wars *squawk*. He never did explain how the one was related to the other.

Posted by: Anachronda at October 20, 2010 06:58 AM (6fER6)

133

My only complaint about Wal-Mart. The other people who shop their. Slovenly, ill-kempt, borish and self-absorbed. Of course, it may just be me....I tend to be magnet for those types of people.

Yep, I made the mistake of running into Walmart on St. Pats last year (in Savannah).  The party inside was better than anything on the street.  One woman started going through my buggy doing her own 'shopping' instead of going to the back of the store to find the beer.

Posted by: EZB at October 20, 2010 06:58 AM (Ty06w)

134 Oh, Baptists love to damn other Baptists for being insufficiently proper. That's why there are so many Baptist offshoots. We're so busy daming each other we can't find the time to level the finger of blame at other denominations.

A believer in the Nicene Creed is a Brother or Sister in Christ; everything else is above my pay-grade.

Posted by: Monty at October 20, 2010 10:49 AM (4Pleu)

Might come from the Southern love for Hellfire and Damnation thunder from the pulpit - sometimes it slips and hits the church up the road. Its pretty harmless when its just one guy at a time.

Catholics are better organized. We're probably worried that if we get too worked up, we will end up sending convoys of zealots down to put unbelievers in Tennesee to the question. So we keep it on the quiet side for the most part.

Posted by: Oldcat at October 20, 2010 07:00 AM (CN+Qv)

135 Posted by: John Frum at October 20, 2010 10:35 AM (qQG8/)

He's married to monica crowley's sister.  A lot of people think he is riding her coat tails.

Posted by: curious at October 20, 2010 07:02 AM (p302b)

Posted by: Ed Anger at October 20, 2010 07:02 AM (7+pP9)

137 There's a new thread up, by the way, for those who grow tired of economic DOOM.

Posted by: Monty at October 20, 2010 07:04 AM (4Pleu)

138 Geeze what kind of backwards states still have toll collectors I dislike tolls but if I need to avoid traffic crush heading south E-470 at least has camera based system and then mails you your bill --which can be payed on-line.

Posted by: Palerider at October 20, 2010 07:04 AM (vL0Nv)

139 Social justice = whatever a leftist is pointing at when it says the words "social justice." I heard an interesting commercial on the local news/weather/traffic station here in Philly; it was basically "The Tea Baggers are going to shut down everything after the election but it was all Boooooosh's fault and yeah, everybody's angry, but TEAAAAA BAGGERS!" It was paid for by a government employees union. I heard this and thought, "they're conceding the election and preparing the ground for their post-election strategy. Made me smile, it did.

Posted by: Greg Wormtongue at October 20, 2010 07:05 AM (RD7QR)

140 Damn sock. That was me.

Posted by: joncelli at October 20, 2010 07:05 AM (RD7QR)

141 155 There's a new thread up, by the way, for those who grow tired of economic DOOM. ------------ Grow tired of economic DOOM? That's unpossible!

Posted by: Anachronda at October 20, 2010 07:06 AM (6fER6)

142 You know who I respect?  The Jews.  They don't seem to spend any time at all trying to convert anyone.  If I were to pick a religion purely based on its adherence to principles and absence of annoying self-righteousness, I'd pick Judaism.  (I also enjoy a religion that encourages the consumption of fried foods!)  :-) 

Posted by: Y-not at October 20, 2010 10:58 AM (osFsP)

You should read Josephus' Jewish Wars if you want to get a different view of how they used to be. Lets just say that this is an aquired trait, due to getting smacked down repeatedly - starting with the Romans a couple of times.

They were pretty crazy back then. It must be something in the water in the Mideast.

Posted by: Oldcat at October 20, 2010 07:07 AM (CN+Qv)

143 Its close to the anniversary of the hearings but I can't think of a reason for the call.  Oh and Anita Hill reported it to the FBI.

The Anita Hill crap had me so riled up at the time (I was able to spend the time to watch the hearings) that for the first time I wrote to Congress critters.  I actually FedEx'd them.

I've been sexually harassed at work.  Her story did not pass the sniff test.  She was lying or exaggerating. 

Anita Hill is a chick with serious "issues," no doubt about it.  For her to feel threatened by Ms. Thomas' phone message - which is completely innocuous and was left at her work number, not even her home number - is bizarre.  The FBI should give her a stern warning that she shouldn't be calling them over such trivialities. 

Posted by: Y-not at October 20, 2010 07:07 AM (osFsP)

144 141 - Uh Uh Boy.... Does this mean Clarence Thomas' wife is drunk dialing again?
She's always sound'n off. I wonder if justice Thomas knows he has an activist wife.
Kinda strange him being all impartial and all...


Posted by: Butters at October 20, 2010 07:09 AM (vUdSP)

145 Posted by: EZB at October 20, 2010 10:58 AM (Ty06w)

LOL, Savannah has the biggest Saint Pats Day Party of any city outside of NY. They run wild. If you are not in a party mood it is best to stay at home on that day.

Posted by: Vic at October 20, 2010 07:09 AM (/jbAw)

146 9-Sorry Vic, I ran some errands and just got back. We were transferred to the Florida Panhandle, and got here just as the oil spill came ashore. I worry for the folks down here, because the economy has hit them really hard-fewer vacations, the oil spill scaring off those who would have taken one in the US, and recent furor over jet noise that may impact Eglin. My kids miss Virginia, and their friends, as well as cold weather. After last winter, we were anxious to get away, but now, we really miss it.

Posted by: moki at October 20, 2010 07:11 AM (dZmFh)

147 "Additionally, I've only rarely had problems with employees at Wal-Mart stores. " At the WalMart in Panorama City CA the workers won't talk to you unless you speak Spanish to them.

Posted by: richard mcenroe at October 20, 2010 07:12 AM (36trC)

148 This is what made Anita feel so threatened:

“Good morning Anita Hill, it’s Ginni Thomas,” it said. “I just wanted to reach across the airwaves and the years and ask you to consider something. I would love you to consider an apology sometime and some full explanation of why you did what you did with my husband.”

Ms. Thomas went on: “So give it some thought. And certainly pray about this and hope that one day you will help us understand why you did what you did. O.K., have a good day.”


Posted by: Y-not at October 20, 2010 07:12 AM (osFsP)

149
The Anita Hill crap had me so riled up at the time (I was able to spend the time to watch the hearings) that for the first time I wrote to Congress critters.  I actually FedEx'd them.

Posted by: Y-not at October 20, 2010 11:07 AM (osFsP)

I think the way it went down was that a staffer for whatver Dem crapweasel was running the vetting process told her that if she swore an affadavit, he wouldn't contest the post and there would be no testifying needed. He was lying, but she had to back it to the hilt when Thomas didn't fold on his own. Hence the 'details' that had to be made up to flesh out the story after the fact.

Posted by: Oldcat at October 20, 2010 07:13 AM (CN+Qv)

150 Fuck you, butters.

Posted by: Y-not at October 20, 2010 07:14 AM (osFsP)

151 @167
My recollection was that Arlen Specter officially jumped the shark after those hearings.  It's like his brain snapped and he decided Republicans were evil, but he was too much of an ingrained politician to just switch parties. 

Posted by: Y-not at October 20, 2010 07:16 AM (osFsP)

152

Ms. Thomas went on: “So give it some thought. And certainly pray about this and hope that one day you will help us understand why you did what you did. O.K., have a good day.”
Posted by: Y-not at October 20, 2010 11:12 AM (osFsP)

Is it too mean of me to think that Ms Thomas is prodding her through the bars with a stick?

In a nice way, of course.

Posted by: Oldcat at October 20, 2010 07:17 AM (CN+Qv)

153 My recollection was that Arlen Specter officially jumped the shark after those hearings.  It's like his brain snapped and he decided Republicans were evil, but he was too much of an ingrained politician to just switch parties. 

Posted by: Y-not at October 20, 2010 11:16 AM (osFsP)

It might have been a Specter staffer...

Posted by: Oldcat at October 20, 2010 07:18 AM (CN+Qv)

154 Y-not- Catholics don't discriminate.. they think ALL other Christian religions are merely bastardized versions of the one true Christian faith.. and, in many respects, they are correct.

Posted by: Chi-Town Jerry at October 20, 2010 07:21 AM (f9c2L)

155 170-yep. I think it was in poor taste-Mrs. Thomas could have left well enough alone. But, as someone who would go through fire for my husband, I understand her intention. She wanted Ms. Hill to do the right thing, and Ms. Hill obviously can't, because that would require admitting she lied in front of Congress, which would probably lead to her being disbarred (legal types, please weigh in on this.)

Posted by: moki at October 20, 2010 07:25 AM (dZmFh)

156 @172 Y-not- Catholics don't discriminate.. they think know ALL other Christian religions are merely bastardized versions of the one true Christian faith

fify

:-)

Posted by: Y-not at October 20, 2010 07:26 AM (osFsP)

157 170-yep. I think it was in poor taste-Mrs. Thomas could have left well enough alone. But, as someone who would go through fire for my husband, I understand her intention. She wanted Ms. Hill to do the right thing, and Ms. Hill obviously can't, because that would require admitting she lied in front of Congress, which would probably lead to her being disbarred (legal types, please weigh in on this.)

Posted by: moki at October 20, 2010 11:25 AM (dZmFh)

Well she can have the satisfaction that obviously Anita is not at peace over the issue. At All.

Moki - I would go through fire for my husband..

Mr Moki - can I have a sammich?

Moki - Is there a fire in the kitchen???!!! Get your own sammich!!!

Posted by: Oldcat at October 20, 2010 07:31 AM (CN+Qv)

158

LOL, Savannah has the biggest Saint Pats Day Party of any city outside of NY. They run wild. If you are not in a party mood it is best to stay at home on that day.

We do!  It's funny hanging out in bars the week leading up to St. Pats as the tourist come in.  They get all excited meeting a 'local' (granted, I live a county over but work in Savannah).  They always ask "What are you doing for St. Pats?" we always say "Staying home and avoiding you guys."

It's ONLY for the die hards and the tourists.   I quit getting drunk and throwing up on my shoes in my early 20's.

Posted by: EZB at October 20, 2010 07:34 AM (Ty06w)

159 168  Awh now, Y-Not. No reason to use nasty language like that.....

Posted by: Butters at October 20, 2010 07:41 AM (vUdSP)

160 If you want peace, work for justice quit sowing the seeds of envy, you communist organizing fucks!

Posted by: FRONT TOWARD LEFT at October 20, 2010 07:48 AM (xJVlJ)

161 Life-long Catholic and never heard the Church go after other Christian sects. One priest now kind of works the Crusades into a lot of his sermons, though. What pissed me off was the pastor's sermon last Sunday. He started off by lecturing us on how we should not cast our votes for our own self-interest, but make sure we were thinking of the good of the country as a whole. Well and good. Take that however you want. I'll take it as meaning getting rid of as many Democrats as possible and sleeping better at night. But then he keyed into hectoring mode to advise us to avoid supporting candidates who are "openly racist," or, in other words, pro-immigration reform. How does he square these two statements? Doesn't the American Catholic Church have its own self-interest front and center in encouraging the massive, illegal immigration of thousands and thousands of Catholic Mexicans to the US? And here's my two bits about Wal-Mart: location, location, location. I drive about twenty minutes longer to get to a more suburban-y Wal-Mart, where the aisles are clear and well-stocked, the employees helpful, and the washrooms and snack areas are clean. And they have a larger book section. The more urban location's book section has been cut to almost nothing - not much more than a rack of the paperback bestsellers, such as you'd see in a Walgreens.

Posted by: cloudy at October 20, 2010 07:53 AM (zw+pb)

162
The ripple effects are going to be huge if banks have to buy back all this bullshit paper they issued.

I've been following this over at 0hedge.  In today's WSJ Heard on the Street column the writer poo poohed the entire threat. Nay, nearly sneered that there was no threat. Only  $15billion, write off over years, all the money in the world to pay lawyers to keep the threat at bay....

Riiiiiiight.  Deny, deny, deny.


Posted by: Derak at October 20, 2010 08:05 AM (gizcd)

163 175-Oldcat, I laughed, but you actually have it wrong! I really do make his sammiches, and his iced tea, and virtually every meal. I am old school. Since there is no position for me with his current assignment, it's my job to cook, clean and run the household-he's slaving away making the money, that's the least I can do for him. But I still want to party with you sometime-you rock!!!

Posted by: moki at October 20, 2010 08:14 AM (dZmFh)

164 OT, but Monty, this is something I've been pondering. Maybe you could shed some light. If I remember those fancy Economics classes I took in high school and college, GDP = (C)onsumption + (Business) (I)nvestment + (G)overnment Spending + (E(X)ports - I(M)ports), right? Now, Keynesian doctrine essentially says that if C or I are down because of a recession, jack G up to pick up the slack. Obama, Pelosi, and Reid have run with that playbook while wearing rocket-powered rollerblades for the last four years. However, the government has no resources of its own, and must either increase taxes on the groups responsible for C and I to increase spending, or borrow money, which will eventually increase taxes somewhere down the line (you could also cut spending, but that's not going to happen). Why is it not blindingly obvious to our elite intellectual overlords that this will only make things worse?

Posted by: Pruman at October 20, 2010 09:47 AM (5TzUw)

165 Pruman, You forgot the all important inflation variable: i.e., instead of taxing or borrowing, the government prints money (debases the currency). Governments through all time and history have resorted to this tactic when taxing and borrowing become unsavory; it's one of the main reasons why no fiat currency has ever had as much staying power as hard currencies like gold and silver. Gold and silver may *drop* in value according to supply and demand, but never go to zero. You can actually inflate a fiat currency so much that it has essentially zero value (see: Weimar, Zimbabwe). I think the basic disagreement comes down to whether you believe that "money" represents actual wealth (i.e., on a fairly close 1-1 ratio), or if it's more like electricity that can be ramped up or scaled down on demand. Keyensians subscribe to the "electricity" model, with the added fillip that if you only make electricity cheap enough, people will use more of it.

Posted by: Monty at October 20, 2010 11:02 AM (4Pleu)

166 I've collected rare and antiquarian books for over 35 years.  In fact, I've bought from John Windle, and his points are good.  However, one thing did not get mentioned: buy the very best condition you can.  If you decided to get, say, a first edition of Darwin's  Origin of Species, don't grab the first one that comes along.  Do some research and find out the range of prices for that edition based on condition, then wait until you can get the very best.  Buy one book like that instead of ten in lesser condition.  Also, buy things that a lot of people are interested in or that have "name" recognition.  About 20 years ago I bought a page from the Gutenburg Bible, and while it was pricey, it is a very cool thing to own, and it's something people are always going to want.  It has therefore appreciated...substantially.  My copy of the Bible in Anglo-Saxon and Gothic, while it is of interest to me, it likely to be a hard sell when the time comes.  But it's always okay to buy something just because you want it, too.  It's just not an investment as well as a collector's item.

Posted by: Nemo from Erewhon at October 20, 2010 01:59 PM (9t8H2)

167 Oh, regarding the toll collectors.  Some years ago I went to a hot spring resort in Japan with some people I worked with.  On the way back we ran into a horrific traffic jam and crept along for almost three hours until we hit the cause--toll booths (Japan has a lot of toll roads).  I mentioned to the driver that in America we had RFI gizmos so we could just drive through.  He said that they had them in Japan, too, but the toll-taker's union had successfully fought their use.  The traffic problem was such an issue that the government said "We'll pay them their full wages just to sit there and watch the cars whiz by."  The union refused, saying it would rob the tool-takers of "job satisfaction."
Seriously.
A few years later it all got resolved, I'm not sure how, and they use ETC now.  But it goes to show unions are insane the world over.

Posted by: Nemo from Erewhon at October 20, 2010 02:18 PM (9t8H2)

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