April 15, 2011
— Monty

(Thx to Slublog for the pic)
Our current unfunded entitlement liabilities run about $100 trillion.
That is an enormous, ludicrous number that can only be properly expressed in scientific notation: 1x10^14. It's the kind of number you use to describe problems in astrophysics and quantum theory, not finance. It will never be paid out because it can't be paid out. This is what happens when you let a bunch of disorganized hippies who don't know math control fiscal and social policy. The welfare state will bankrupt us just as surely as the sunrise.
And we are doubly boned because Americans like their comfy welfare-state apparatus, but don't want to pay for it. This is what happens when you never see the true cost of things you buy; this is what happens when you never see a bill.
Congressman Paul Ryan to President Obama: "Take a seat and let the adults run things for awhile, what do you say?"
California looks to Texas for advice on how to become un-boned. However, the California Supreme court sniffs haughtily and says, "No thank you. We prefer to be boned, actually. It's our just punishment for being Gaia-raping worker-exploiting non-eco-conscious omnivores."
The endgame for the Greeks may be in sight. Portugal and Ireland won't be far behind.
[UPDATE 1]: Kratos reminds me that Moody's just cut Ireland's debt two notches to near-junk status.
[UPDATE 2]: Iowahawk does what he does, as only he can do it. All hail the 'hawk!
[UPDATE 3]: Because President Obama is all about the healing.
(Part 3 of my econ series will appear next week; I'm still working on it.)

Posted by: Monty at
05:23 AM
| Comments (128)
Post contains 278 words, total size 3 kb.
Posted by: Baconus Maximus at April 15, 2011 05:28 AM (TkQ7t)
Moody's Downgrades Ireland
LONDON—Moody's Investors Service Inc. downgraded Ireland's government debt by two notches Friday, taking the country to the brink of junk status, and kept its outlook negative.
The agency, cutting Ireland's bond ratings to Baa3, one notch above junk, from Baa1, said it was responding to a likely deterioration in Ireland's fiscal position due to weak prospects for economic growth and higher borrowing costs as a result of rate rised by the European Central Bank.
However, the first quarterly review of Ireland's economic reform program by the European Union, ECB and International Monetary Fund shows the country is on track, but ...
/Heh, nice try WSJ.
Posted by: Kratos (Ghost of Sparta) at April 15, 2011 05:33 AM (9hSKh)
Posted by: KinleyArdal at April 15, 2011 05:33 AM (i4EAV)
Posted by: Kratos (Ghost of Sparta) at April 15, 2011 09:33 AM (9hSKh)
Yup, there goes the neighborhood.
Posted by: KinleyArdal at April 15, 2011 05:35 AM (i4EAV)
California Begs Texas for Job Recipe as Growth Trades Places
but the text doesn't seem to have anything to do with that (it's about Mayor V's re-election bid).
Posted by: Y-not at April 15, 2011 05:37 AM (pW2o8)
Manchin is a liar.
"All Democrats in the U.S. Senate just voted to preserve funding for the national health care law, with the measure being rejected by a 47 to 53 vote straight party line vote.
The Obamacare defunding vote could be particularly harmful to Sen. Joe Manchin who won a special election in West Virginia last year by convincing voters that he was a conservative Democrat who would buck party leadership.
In fact, weeks before the election, Manchin said he was open to repealing the health care law entirely.
This is a vote he'll have to explain to his constituents when he defends his seat in 2012."
Well well well. When do you suppose voters will learn that when there's a D after the name - you are voting for a hack and a liar.
Posted by: Lemon Kitten at April 15, 2011 05:39 AM (0fzsA)
Posted by: CharlieBrown'sDildo (NJConservative) at April 15, 2011 05:39 AM (LH6ir)
“When Paul Ryan says his priority is to make sure, he’s just being America’s accountant … This is the same guy that voted for two wars that were unpaid for, voted for the Bush tax cuts that were unpaid for, voted for the prescription drug bill that cost as much as my health care bill — but wasn’t paid for,” Mr. Obama told his supporters. “So it’s not on the level.”
How are they ever going to pass a responsible budget when this president speaks this way?
Posted by: Miss'80sBaby at April 15, 2011 05:40 AM (uVLrI)
Posted by: Monty at April 15, 2011 05:40 AM (4Pleu)
It's the magic of compound interest that will destroy us. With no will, whatsoever, to stop adding to the debt it will eventually consume the budget. If today we were paying more historic average rates on gubmint debt the deficit would be $300-500 billion more per year right now. The Fed is keeping the rate artificially low, and the Treasury has moved much of the debt into shorter term instruments.
We are boned.
Posted by: GnuBreed at April 15, 2011 05:43 AM (ENKCw)
I woke up with what appears to be my first bout of gout.
Now That's DOOM!
Posted by: Ed Anger at April 15, 2011 05:44 AM (7+pP9)
Finally, the DOOM thread.
As mentioned before here, people just can't comprehend the enormity of the dollar figures.
In terms of just how large the debt and the deficit are, I've started to collect quotes from TV shows and movies showing what writers believed were astronomical sums of money for huge projects.
For example, last night, while watching TV:
Red Planet (2000?) - mission to Mars goes wrong. A science module ends up being torched for warmth. One of the crew members remarks as he ignites the module: "Well, there goes $1 Billion."
Futurama (episode Brannigan Begin Again): Zap Brannigan blows up DOOP headquarters in space. He remarks to the effect that "Once minute you're on top of the world, then you blow up a $400 Billion space station and you're in the gutter..."
At least in Futurama, $400 Billion got them a space station. What the hell did we get for $5 TRILLION over the last 3 years...Seriously?
Posted by: Canadian Infidel at April 15, 2011 05:46 AM (GKQDR)
Obama's entire presidency is unpaid for. ObamaCare is unpaid for. Obama's big union entitlements are unpaid for.
Under Bush we had billions of debt. Under Obama we have trillions. and it's all unpaid for.
Posted by: Lemon Kitten at April 15, 2011 05:47 AM (0fzsA)
That is actually an "Imp", a hell-spawn common to the alien ruins found on Mars.
Posted by: E. Swann, UAC BoD at April 15, 2011 05:47 AM (TkQ7t)
Posted by: laceyunderalls at April 15, 2011 05:47 AM (pLTLS)
the feds are blowing 40 dollars per US citizen per day.....
the minimum wage means that for the poor they are spending more than half their takehome on a daily basis....
"awesome"
Posted by: sven10077 at April 15, 2011 05:49 AM (kq1lG)
Put a bottle of bourbon next to the keyboard; you will need it.
Posted by: CharlieBrown'sDildo (NJConservative) at April 15, 2011 05:51 AM (LH6ir)
I suggest you have either a nice bottle of scotch or a ballbat nearby....
drink the scotch before you read DOOM then hot yourself or a donk in the head with the ballbat after.....
works for me
Posted by: sven10077 at April 15, 2011 05:52 AM (kq1lG)
Put a bottle of bourbon next to the keyboard; you will need it.
Posted by: CharlieBrown'sDildo
My boss gets upset when I do that. maybe it's because I won't share.
Posted by: Blue Hen at April 15, 2011 05:52 AM (6rX0K)
16Screw the financial doom.
I woke up with what appears to be my first bout of gout.
Now That's DOOM!
uggh! I'm a Gout sufferer. Just coming out of a three week bout! I couldn't walk for two days when it first struck. My whole right foot swelled up so bad I couldn't put a shoe on. It was my worst attack yet. Previous poster is correct. Drink lots of water. i'm doing about a gallon per day and it really helps. Once it's totally gone i'm going to get my Uric acid reduced using medication. Did you get your Uric acid checked?
Posted by: learflyer at April 15, 2011 05:55 AM (9vscO)
Anyone got a good idea of what happens to the economy and interest rates once QE is stopped? I don't really, except it should have one positive effect -- an end to stealth wealth destruction via inflation.
It's the bad side effects I'm not too clear on. There are bound to be some though.
Posted by: GnuBreed at April 15, 2011 05:56 AM (ENKCw)
CNBC had a special on yesterday on "The American Taxcheater." They were basically showing the enforcement abilities of the United States government to get what it's owed.
They have a forensics lab, an armed enforcement division and they detailed how the government is now going after Americans hiding money overseas. Which is all fine and good for the government to get money that people legitimately owe and haven't spent.
But one of the quotes by an author mentioned that "If you're an American citizen and you make income, you owe the United States government money." This was coupled with a quote "The United States tax code is very complex and changes every year."
Which basically brought me back to my big fear? What is the government going to try to take from ANY American, even those living overseas in the future. What's going to happen when we DOOM really starts to happen if $250,000 a year is now the new rich? What might they try to take from my children and family from my estate down the road?
Creeped me out..I'm not scared of the Canadian government in the same manner.
Posted by: Canadian Infidel at April 15, 2011 05:57 AM (GKQDR)
Obama now dumping on Paul Ryan at private fundraisers
“When Paul Ryan says his priority is to make sure, he’s just being America’s accountant …Obama responds blah, blah, blah and blah.
Miss80s
This reminds me of the type of guy He is: we have seen this with Joe the plumber, Palin, classless and vindictive as it seems many Dems are. Then my mind jumped to the Khalidi tape.. i bet that tape would explain alot of His foreign policy ideas, to bad we have a propoganda media for the Dem Party, rather than a real media. .
He uses these fellow travelers to send attack dogs against He percieves is a threat to His viability or He personally dislikes. He's not a leader but a bully with power.
Posted by: willow at April 15, 2011 05:58 AM (h+qn8)
I saw something interesting on TV today. I was watching the weather channel and one of the anchors is scheduled to throw out the first pitch at a game so they had a little package on people who threw out the first pitch.
They started with disasters: Carl Lewis, Mariah Carey, the Mayor of Cincinnati. Then they moved on to Obama. They (1) mentioned that he got booed and (2) threw an embarassing lollipop. They then went to Bush. The first they showed was a toss that was a little high, the second was his famous strike after 9/11.
It was a pretty straight story and it stunned me, coming from that NBC-affiliated network. It wasn't a hit piece or a serious political story, but somebody ignored the standing memo to treat Obama like Dear Leader.
Posted by: AmishDude at April 15, 2011 05:59 AM (73tyQ)
Posted by: Bill D. Cat at April 15, 2011 05:59 AM (npr0X)
you get that QE2 is essentially "buying treasuries" with phantom money right?
it is paper on paper....
you yank imaginary surrender of purchasing power from the magic slip pool it is in theory a deflationary situation....but we have been masking inflation hard....
anyway the notion that interest rates are anything approaching reality for the last 12 years is so ludicrous it should beggar the imagination.....
want to know what you SHOULD be pulling for savings or bonds?
take 5% off of the credit card interest rates banks charge for REAL lending.
Posted by: sven10077 at April 15, 2011 06:00 AM (kq1lG)
Want a medical condition that goes with DOOM? Try gout! Gout is not only painful and wearying, but it tends to make you sedentary, so you are more inclined to sit at your computer and learn more about DOOM!
(side effects include swelling, pain, hot flashes, destruction of PC monitors, an urge to buy and/or bury gold and ammo and the liquidation of paper investments)
addictions to valu-rite have been reported, and are highly reccomended
Posted by: Dr. Hen at April 15, 2011 06:01 AM (6rX0K)
and that's just for starters.....
commodities will go up as the stock market dives.....
we're about 18 weeks tops from Carter's magic playhouse of stagflation
Posted by: sven10077 at April 15, 2011 06:01 AM (kq1lG)
Posted by: The American People at April 15, 2011 06:01 AM (DsHk0)
Morning all. I tried to stay up for the ONT last night but was just too damn tired. Husband is officially in remission. Doc says come back in September but he said it looks good to him. The original growth is gone and even tho it's extremely red and sore because of the last round of treatments, he said he sees nothing to make him worry.
Thanks to everyone for their prayers, you all are the best!
Posted by: jewells45 at April 15, 2011 06:02 AM (l/N7H)
Obama has much in common with Third-World dictators; contempt for the rule of law, harassment and badgering of private institutions and citizens who dare disagree with him, and disdain of the mechanics and principles of democracy.
Also, many Third World leader thugs are whining, brooding losers - another trait Obama shares with them.
Posted by: Kratos (Ghost of Sparta) at April 15, 2011 06:02 AM (9hSKh)
Posted by: joncelli at April 15, 2011 06:03 AM (RD7QR)
The fact that BtotheO is clearly focusing on Ryan in a personal/hack manner leads me to believe the WH sees Ryan and his plan as a serious threat. They must have some info that leads them to believe Ryan needs to be capped immediately.
I believe we're in the abyss and there is no return.
Washington (both parties, unfortunately) doesn't believe things are serious.
Republicans, even supposed conservatives, don't see government as the problem.
35-45% of Americans want every penny the government will take from others and give to them.
There will be blood.
Posted by: The Hammer at April 15, 2011 06:04 AM (dja/g)
This reminds me of the type of guy He is: we have seen this with Joe the plumber, Palin, classless and vindictive as it seems many Dems are.
I'll bet he treats waitresses and nurses like shit.
Posted by: AmishDude at April 15, 2011 06:05 AM (73tyQ)
Posted by: willow at April 15, 2011 06:05 AM (h+qn8)
Posted by: curious at April 15, 2011 06:05 AM (k1rwm)
Posted by: Bill D. Cat at April 15, 2011 06:08 AM (npr0X)
“Under their vision, we can’t invest in roads and bridges and broadband and high-speed rail. We would be a nation of potholes and our airports would be worse than places that we used to call the Third World but that are now investing in infrastructure.”
Posted by: Miss'80sBaby at April 15, 2011 06:09 AM (uVLrI)
Posted by: The Hammer
I think that this is SOP when he realizes that he is not the smartest kid in the room at the science fair and a serious student walks in with their project. We just watched the Bush tax cuts become the Obama tax cuts (per Pelosi) and now the Bush tax cuts are back. We've seen three of these thugs denounce their own votes without a qualm.
Posted by: Dr. Hen at April 15, 2011 06:09 AM (6rX0K)
49 What's the purpose of dumping on Ryan?
He's the Left's new Emmanuel Goldstein.
They're the most hateful people on the planet. They define themselves by who they hate.
But it makes sense that they live in a melodrama. Their policy prescriptions have failed so spectacularly time after time that they can only justify what they do by claiming a moral superiority.
Posted by: AmishDude at April 15, 2011 06:09 AM (73tyQ)
Posted by: eman: Japanese Babe Rescue Team at April 15, 2011 06:10 AM (dT+/n)
Posted by: willow at April 15, 2011 06:10 AM (h+qn8)
Posted by: joncelli at April 15, 2011 06:10 AM (RD7QR)
I'll bet he treats waitresses and nurses like shit.
Posted by: AmishDude at April 15, 2011 10:05 AM (73tyQ)
And I'll bet he married his horrid wife because she treats him like shit.
A shrink would have a grand old time with Obama (pbuh).
Posted by: Typical perverted moron at April 15, 2011 06:11 AM (LH6ir)
Posted by: CharlieBrown'sDildo (NJConservative) at April 15, 2011 06:12 AM (LH6ir)
“Under their vision, we can’t invest in roads and bridges and broadband and high-speed rail. We would be a nation of potholes and our airports would be worse than places that we used to call the Third World but that are now investing in infrastructure.”
I thought that looking disparagingly at the Third World was a bad thing? And does this mean that we're back to 'shovel-ready'?
Posted by: Dr. Hen at April 15, 2011 06:12 AM (6rX0K)
What's the purpose of dumping on Ryan?
The Alinsky strategy is to personalize the argument, then by destroying the person you destroy the argument. It's all Obama knows from his days as a community agitator organizer.
Obama is not a constructive person. He's never built anything, he can only tear down.
Posted by: Ghost of Lee Atwater at April 15, 2011 06:12 AM (JxMoP)
Under their vision, we canÂ’t invest in roads and bridges and broadband and high-speed rail.
Ignore the high-speed rail.
Remind people of what the Democrats are going to the mat over: NPR, NEA, NEH, Planned Parenthood,...
They want grandma to starve so that NPR executives can continue to get their 6-digit salaries.
They're making a budgetary choice and that choice is (a) interest on the debt and (b) frivolity.
Posted by: AmishDude at April 15, 2011 06:12 AM (73tyQ)
I agree they'll try....I also KNOW that that is a perpetual motion machine and the cost of ANY commodities that can be competed for on the CCE will skyrocket.....
Posted by: sven10077 at April 15, 2011 06:13 AM (kq1lG)
Yesterday I watched them take a fox news story and make it go so viral that Fox eventually took the story down. What was so frightening is that it was comment after comment that were essentially similar with different names. And it went from blog to blog like a virus.
I don't see that on conservative blogs, people have differing opinions and reasons for why they think the way they do. I had a very bad day yesterday looking at all this stuff and being so saddened by it.
Posted by: curious at April 15, 2011 06:15 AM (k1rwm)
Nothing that Obama has ever done is original. He can't speak extemporaneously. His policy prescriptions are just the tired old liberal cant, and his political maneuverings are exactly as you say; right out of the Alinski playbook.
Why anyone is surprised by this is beyond me.
Posted by: CharlieBrown'sDildo (NJConservative) at April 15, 2011 06:15 AM (LH6ir)
Posted by: joncelli at April 15, 2011 06:15 AM (RD7QR)
Ironic given our current security system at airports
Posted by: Doc at April 15, 2011 06:16 AM (oCYrS)
They are really bullshitting the public now.
Posted by: Vic at April 15, 2011 06:16 AM (M9Ie6)
Did you get your Uric acid checked?
Posted by: learflyer at April 15, 2011 09:55 AM (9vscO)
There's very little swelling and only a small red spot, but no other good explanation for the pain. I'm first gonna try some simple home remedies (drinking lots of water, baking soda for now, maybe celery seed later).I'll go see a doctor after the second or third bout because by then I'll know I really have it.
Posted by: Ed Anger at April 15, 2011 06:16 AM (7+pP9)
Posted by: Bill D. Cat at April 15, 2011 06:17 AM (npr0X)
To defeat Obama requires someone in the Republican party to step forward and call him out for what he is: a shameless liar and a coward. The problem the Republicans have is that they always want to treat the office of the Presidency with dignity and respect; sorry, but when the office holder is dragging the position through the mud you have to respond. This is war.
Posted by: Ghost of Lee Atwater at April 15, 2011 06:17 AM (JxMoP)
sven, yeah it seems to me too that interest rates will have to rise without the Fed in there every week sopping up Treasuries at the rate of an extra $1.2 trillion per year. So then the deficit rises as a result of sharply higher interest payments.
I could see arguing the case that stock market will dive but the why isn't clear. Commodities ought to fall some if inflation is reduced.
Posted by: GnuBreed at April 15, 2011 06:17 AM (ENKCw)
A tablespoon of Apple Cider Vinegar in a glass of water pretty much helps everything.
Posted by: curious at April 15, 2011 06:18 AM (k1rwm)
Posted by: willow at April 15, 2011 06:18 AM (h+qn8)
Oh yeah, and they will be the first to drop the Euro as part of their restructuring. I don't see how the restore their economy without doing that.
Posted by: Marcus at April 15, 2011 06:19 AM (CHrmZ)
Posted by: willow at April 15, 2011 06:20 AM (h+qn8)
Yesterday I watched them take a fox news story and make it go so viral that Fox eventually took the story down.
. . .
Posted by: curious at April 15, 2011 10:15 AM (k1rwm)
-----------
Which story was that?
Posted by: Ed Anger at April 15, 2011 06:21 AM (7+pP9)
Posted by: willow at April 15, 2011 10:18 AM (h+qn
All true, but grandma doesn't know that. What she needs to know is that her grandkids will be broke and she will have to eat cat food so we can have cowboy poetry festivals.
Posted by: AmishDude at April 15, 2011 06:21 AM (73tyQ)
Ah, everyone has an agenda. But they did just play snuffleupagus talking about the fact that the president seemed excited about talking about the birther issue.
the way I feel about it is this, if donald trump has been sent out there to prove that he's American born and to take the issue off the table completely during the campaigns then that's good thing. but for the folks that take this so seriously, the guys really going to have to prove it to them or they seem like the types who won't take it off the table unless it is iron clad proof.
Posted by: curious at April 15, 2011 06:22 AM (k1rwm)
Posted by: Monty at April 15, 2011 06:23 AM (4Pleu)
Posted by: eman: Japanese Babe Rescue Team at April 15, 2011 06:23 AM (dT+/n)
Posted by: curious
By stating that the 2011 budget, 2012 budget and debt ceiling aren't the real fight - the Ryan plan is the real contest, the Republicans have drawn a big 'ol bulls-eye on Ryan's back. That's why he's the target.
Posted by: Laurie David's Cervix at April 15, 2011 06:23 AM (UB58p)
The Mayo Clinic usually has some great info. Here's their "home remedies" section for gout.
Sad to say, avoiding alcohol is one of the recommendations.
On an unrelated note... but sorta related. If you ever have a kidney stone attack, drink beer. Barley water was recommended to us (by an Indian scientist) when the man had a kidney stone attack. Couldn't find that, but he had a beer (Rolling Rock, ironically enough) and it popped right out -- painlessly.
Posted by: Y-not at April 15, 2011 06:25 AM (pW2o8)
Posted by: eman: Japanese Babe Rescue Team at April 15, 2011 06:25 AM (dT+/n)
Posted by: Ed Anger at April 15, 2011 10:21 AM (7+pP9)
At one point even drudge linked to the fox story.
LGF, Business Insiders and many other blogs had it but deferred and linked to huff poo pooo
Posted by: curious at April 15, 2011 06:26 AM (k1rwm)
n my efforts to find 2012 numbers I ran across this little gem that is guaranteed to piss you off. We keep hearing about "mandatory spending" being SS, Medicare, ect; IOW entitlements. We hear that discretionary spending is the only place where they can actually cut. Well this is absolute horse shit.
Check out this little slight of hand by Obama for the 2012 budget.
Real Smoke and Bullshit
In FY 2012, spending from the Economic Stimulus Package was moved to Mandatory spending, which is the budget category for spending that is mandated by law. This spending included a surplus of $73 billion from banks for the TARP program, $12 billion in tax cuts and $12 billion in jobs initiatives.(Source: OMB, FY 2011 Budget, Table S-1 and S-4)
So they intended to enshrine porkulous into the permanent mandatory budget.
Q: Will the Republican Budget for 2012 undo this bullshit?
Posted by: Vic at April 15, 2011 06:27 AM (M9Ie6)
Posted by: curious at April 15, 2011 06:28 AM (k1rwm)
Posted by: Vic at April 15, 2011 10:27 AM (M9Ie6)
after the dressing down the republicans got from timmmaaay..
short answer, I doubt it.
Posted by: curious at April 15, 2011 06:29 AM (k1rwm)
Posted by: Y-not at April 15, 2011 06:30 AM (pW2o8)
Anyway, got to run. Back later.
Posted by: Vic at April 15, 2011 06:31 AM (M9Ie6)
Posted by: eman: Japanese Babe Rescue Team at April 15, 2011 06:37 AM (dT+/n)
Yes, but it would have to actually get passed.
Posted by: Miss'80sBaby at April 15, 2011 06:37 AM (uVLrI)
>>A tablespoon of Apple Cider Vinegar in a glass of water pretty much helps everything.
Try to get it organically in a health food store!
Posted by: sickinmass at April 15, 2011 10:24 AM (1rflU)
If you have gout you want to alkalize your body so, if anything, you drink water with baking soda dissolved in it. I did see one home remedy that said to add apple cider vinegar to raw honey and drink it but I don't understand how that could help. Another home remedy is to add some rose hips to apple cider vinegar, boil it, and apply it externally. It's supposed to help dissolve the uric acid crystals.I'm just gonna try the simple stuff for now and if it comes back go to the doctor.
What really pisses me off is I've been laid out for two weeks with a bad back. Yesterday was the first day my back felt near 100% and this morning I wake up with this!
Posted by: Ed Anger at April 15, 2011 06:37 AM (7+pP9)
Posted by: jewells45 at April 15, 2011 10:02 AM (l/N7H)
Congratulations!!
Nice to see that I'm not the only one into Apple Cider Vinegar. Is there any other kinds out there other than Bragg's that aren't pasteurized.
Everyone with gout, feel better. Everyone on the DOOM thread (Ace, HotAir, theblogmocracy) are always in my prayers during my morning meditations. Blanket coverage...
Posted by: Canadian Infidel at April 15, 2011 06:39 AM (GKQDR)
Posted by: Ed Anger at April 15, 2011 10:16 AM (7+pP9)
Ed, my dad had gout also. he always said it was when he ate alot of real spicy food that it would flair up.......... he also drank a half gal.of bourbon and beer a week so who knows......
Posted by: Racefan at April 15, 2011 06:42 AM (LFHcF)
Posted by: Miss'80sBaby at April 15, 2011 06:42 AM (uVLrI)
I think the spider bite person might be right.
try putting a little meat tenderizer of the red spot. See if it feels better.
You are like the fourth person complaining of a "bad back" and my friends aren't old.
Posted by: curious at April 15, 2011 06:45 AM (k1rwm)
However, physics tells us a body in motion tends to stay in motion. The powers that be have managed to stave off the worst of things for three years, so why should we expect them not to be able to continue to do so?
Here is my thought for what it is worth (not logical, but then again, our government is not logical):
Politicians have one goal. To stay in power. They will do anything to get re-elected. Consequently, angry mass protests against them make them nervous and unhappy, because it may signal they are could lose their job. So they will do anything, and I mean anything, no matter how destructive in the long term, to keep their jobs. So the social programs will not end, the handouts will not end, and the media, who is vested in keeping their favorite politicians in office, will keep voluntarily covering for them. It will be the slow, long suck. As it has been.
If things get really bad, I don't see hyperinflation or deflation or vast social change. I see politicians who will do anything to keep their job.
And what is one of the best ways to keep an economy up?
A major, major war. Not a baby 'military action' in a country no one can locate.
If economically things turn for the worse, and the citizens notice it, look for a war. That will be a signal that we're collapsing.
/rant off. Yes, I know none of this is logical, yet it seems that nothing is logical about our financial situation now.
Posted by: shibumi at April 15, 2011 06:47 AM (OKZrE)
This make me wonder what they have up their sleeves, how are they going to come up with the money should everyone decide to unload the debt instruments they bought from us in one fell swoop?
Posted by: curious at April 15, 2011 06:51 AM (k1rwm)
Monty or anyone else,
One thing I've been wondering lately deals with the province of Ontario and California. Both of them, to me, are essentially boned but no one in Ontario seems particularly aware of it.
California's debt is about $9600 per person whereas Ontario's debt is over $200 Billion for 11 million people or $16,000 a person. Both are chasing out manufacturing. Ontario's minimum wage is over $10 an hour. Our energy costs are estimated to be going up 50% over the next 5 years. We used to be Canada's major HAVE province but that's just gone.
Our provincial spending, including a $20 Billion dollar deficit, is largely tied up in health care and social programs.
I checked Ontario's bond rating. I believe it was at aa- or something, pretty good.
I know California has been in dire straits at points even having to issue IOU's just a few years back. What I'm wondering is how is it that Ontario isn't taken more of a serious risk at this point in terms of debt? Why am I always hearing that California is boned but no mention of Ontario? Is it because provinces have different bond issuing requirements than states which may be allowing the government to hide how bad the finances are? Is it because Ontario, so far, has managed it's debt wisely, and we're currently like Japan - much debt but people know we're good for it?
I've just been curious. In any event, this province is no place to try to be raising a large family, in my opinion.
Thanks.
Posted by: Canadian Infidel at April 15, 2011 06:53 AM (GKQDR)
Posted by: Miss'80sBaby at April 15, 2011 06:56 AM (uVLrI)
Posted by: jewells45 at April 15, 2011 06:58 AM (l/N7H)
Posted by: Bill D. Cat at April 15, 2011 07:02 AM (npr0X)
________
QE III. Duh.
I'm thinking about investing in wheelbarrows.
Posted by: Anachronda at April 15, 2011 07:05 AM (6fER6)
Posted by: Bill D. Cat at April 15, 2011 11:02 AM (npr0X)
Oh I know. I'd like to have a referendum for the rest of Canada to give them permission to leave. But that's just another reason I don't fit into this country. Well, the non-Alberta part. Hope they separate too. They deserve it and I mean that in the best possible manner.
Posted by: Canadian Infidel at April 15, 2011 07:06 AM (GKQDR)
Posted by: Miss'80sBaby at April 15, 2011 10:56 AM (uVLrI)
He's been ruling like he is above the law, and getting away with it. Why would he stop now?
Posted by: Rodent Liberation Front at April 15, 2011 07:07 AM (dQdrY)
Posted by: Bill D. Cat at April 15, 2011 07:13 AM (npr0X)
After reading the wiki entry I don't understand why the bishop is so weak and why the Vatican hasn't become involved.
But, then again, I'm reading an awful lot of stuff about the American Catholic Church splitting from Rome so maybe the bishop is one of "those guys"
Posted by: curious at April 15, 2011 07:14 AM (k1rwm)
Its over.
Is it too early to start the planning for what takes its place? Or does that spoil all the DOOM fun?
Posted by: snort! at April 15, 2011 07:18 AM (K/USr)
Posted by: Y-not
I can vouch for this. You need to ingest and keep down massive amounts of fluids to get the damn thing to pass, and you need an anaesthetic to dull the retching reflex when the stone is making its final turn around the grandstand (groin) and into the home stretch. I took a bath in luke-warm water and pounded beer as fast as I could.
Moronic conditions call for moronic solutions.
Posted by: Blue hen at April 15, 2011 07:20 AM (6rX0K)
Posted by: Tami at April 15, 2011 07:20 AM (VuLos)
take 5% off of the credit card interest rates banks charge for REAL lending.
Posted by: sven10077 at April 15, 2011 10:00 AM (kq1lG)
Why do you think that? The banks do not need our deposits to loan money. The government does not need our bond purchases to spend.
Posted by: Reactionary at April 15, 2011 07:21 AM (xUM1Q)
Posted by: The Great Besieged State of Arizona at April 15, 2011 07:22 AM (s41t3)
Posted by: Blue hen at April 15, 2011 11:20 AM (6rX0K)
Huh. Beer. Is there anything it can't do?
Posted by: Reactionary at April 15, 2011 07:22 AM (xUM1Q)
Posted by: ExExZonie at April 15, 2011 07:22 AM (s41t3)
"our airports would be worse than places that we used to call the Third World"
Ironic given our current security system at airports
Posted by: Doc at April 15, 2011 10:16 AM (oCYrS)
I flew in & out of DFW about a month or so ago. It surprised me to see that about 80% of the in-terminal staff and around 1/3 of the TSA goons were Somali/Ethiopian. Including quite a few women wearing hijab, even in TSA uniform. Freaky.
Posted by: IllTemperedCur at April 15, 2011 07:25 AM (sBoN3)
But, then again, I'm reading an awful lot of stuff about the American Catholic Church splitting from Rome so maybe the bishop is one of "those guys"
Posted by: curious
He is the modern Fr. Coughlin. He invites to his parish a man who incited lethal race riots, and according to the link has made death threats himself. WIth the growing priest shortage, longer assignments are becoming common, especially if they apply for a renewal of their assignment.
Posted by: Blue hen at April 15, 2011 07:26 AM (6rX0K)
No problems, doomsters. I've got the wheel now, and have turned this big boat around.
I did it for the kids. snif....
Posted by: Cap'n John Boned at April 15, 2011 07:28 AM (K/USr)
This will sound dumb but get yourself a tennis ball and use it up against a wall on the spot or spots that are hurting.
Stay away from the center of your back where your spine is.
Dig it in to spot that hurts and hold it there for a while, this works for me almost all the time.
The muscles get very tense when you have pain and causes most of the pain you have, this for some reason relaxes the muscles and makes it feel better.
It will of course not fix the problem but it should feel much better.
Posted by: MarkC at April 15, 2011 07:33 AM (yPPVC)
Posted by: ExExZonie at April 15, 2011 08:00 AM (s41t3)
Posted by: Bill D. Cat at April 15, 2011 11:13 AM (npr0X)
Not dealing with the blackmail would make separation worthwhile. An independent Quebec would soon follow the PIIGS nations.
Posted by: Canadian Infidel at April 15, 2011 08:46 AM (GKQDR)
an therein lies the tragic flaw of our system....
our entire lending apparatus has a fatal addiction to artifically cheap money friend.
Posted by: sven10077 at April 15, 2011 08:59 AM (kq1lG)
Posted by: abercrombie and fitch uk at April 16, 2011 12:35 AM (9gvtN)
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Posted by: Mr. Ed at April 15, 2011 05:26 AM (dT+/n)