August 27, 2013
— Monty

Oh, IÂ’ve got a garbage-barge full of DOOM for you today, my groovy babies. A feculent stinking mountain of lies, perfidy, avarice, cant, ridiculousness, weakness, stupidity, cupidity, poltroonery, and good old fashioned fraud.
It takes courage to save money? Really? Is that where the bar is at now? We used to say that the GI charging a Nazi machine-gun nest was being courageous. Now all it takes is dropping a spare buck into the change-jar every now and then. Next thing you know we'll be hearing "it takes courage to wipe your ass after taking a dump" PSA's. Remember: this is what your government thinks of you. This is their opinion of you. (Adam Carolla recently riffed on this as well.)
The Treasury will reach the debt limit by mid-October. Or I should say, "the charming genteel fiction known as the 'debt limit'", because it is obvious to every creature upon this earth that the heedless borrowing will go on and on until the SMOD ends it all.
The 5% recovery. I'd phrase this a bit differently: if you're a friend or court favorite of His Majesty the King, you will prosper. If not....
ItÂ’s been obvious from the dawn of time that many people will accept a lower standard of living in exchange for not having to work (or working less). When the government incentivizes this behavior through generous welfare benefits, it only exacerbates the problem. Unemployed poor people donÂ’t create great works of art or think deep thoughts; they sit at home and watch television, have kids they canÂ’t afford, and get into trouble with the law. The devil makes work for idle hands.
While we’re on the topic of being poor, read “In another country". July durable goods orders drop by the most in a year. This is a structural problem, not a statistical fluke or a reporting issue.
A reminder: never say "Well, at least it can't get any worse." It can always get worse.
Just a reminder: “recovery summer” still hasn’t happened yet, five long years after His Majesty ascended to the throne. Note, though, that this story refers to manufacturing employment, not manufacturing output. We’re still producing lots of manufactured goods, but we don’t need as many people to do it.
Mises and Hayek would have been proud. “[P]rostitution is a private matter and no public funds should be spent on sex workers.”
More good stuff from Steyn: too many janitors with college degrees. (h/t Andy)
Private lobbyists pulling down state pensions. Your tax dollars hard at work.
The economy: weÂ’ve fallen and we canÂ’t get up. Check this:
When Sentier broke its data down, every age group lost ground — except senior citizens. Those aged 65 to 74 saw median income climb 5.1% from June 2009 to June 2013. Those 75 and older enjoyed a 2.1% gain.And what demographic is statistically the wealthiest segment of society? Why, the geezers. The Democrats love to position their redistributionist policies in social justice terms, but it's really a giant generational wealth transfer from the relatively poor young to the relatively wealthy old.
ThereÂ’s a reason public-sector workers and retirees donÂ’t want you to know the details of their pension benefits.
Can the developed world continue the high growth rates of past decades? Probably not, although it's possible that some technological or cultural breakthrough could change the whole game.
California's suicide pact.
Remember back when we didnÂ’t live in an authoritarian fascist state? Good times, good times.
In New York City, you can make forty grand a year just by existing.
The indebted states of America. I've always said that the true debt bomb is not the federal debt; it's the enormous (and mostly understated) municipal and state debt.
The big mistake everyone makes on pension reform. My take: the big mistake is setting up defined benefit pension plans instead of defined contribution plans. Under-pricing of risk, terrible actuarial practices, and outright fraud are secondary to this most basic problem.
If states and municipalities want to have a hope of fixing the pension/OPEB problem, theyÂ’re going to have to buck the unions.
How broke is Detroit? As the Brits say, “skint”. Indigent. Hard-bottom busted.
A $15 minimum wage being pushed in Seattle. Because every burger-flipper and busboy and surly retail clerk is worth exactly as much per hour as a journeyman carpenter or car mechanic.
Criticizing government pensions is racist. Just like everything else these days.
Yet another crap-tastic jobs report. Another fine day in His Majesty's happy kingdom.
Why in GodÂ’s name anybody would start a small business in California these days is beyond me.
In other awesome news: convicted felon Jesse Jackson Jr. will get $8K per month in disability, plus a $45K partial federal pension. All while sitting in prison for "misusing" $750K in campaign funds. (Back in my day, we used "stealing" instead of "misusing", but that was in a less enlightened time.)
The economics of opera. I'm a fan of opera, and the Met's recent staging of Wagner's Ring cycle was a fabulous production, but the fact remains that opera specifically, and live theater more generally, is incredibly expensive to produce yet has a very small audience. Wynton Marsalis' reign at the Jazz at Lincoln Center program is a close parallel -- instead of growing the audience for jazz, Marsalis basically bet it all on the "purist" market. It's not clear to me that these unfashionable entertainments can be sustained economically without downsizing -- yet you can only "downsize" an opera so far. It also turns out that unions are a major culprit in the torrent of red ink, as they so often are.
Greece: Um, we're gonna need another 10 billion Euros. That chinchilla ranch we set up on the outskirts of town didn't bring in as much profit as we'd hoped.
Every time a liberal sings the praises of ObamaCare, remember: this is the system they want to emulate. This is what constitutes a good outcome in their minds.
Posted by: Monty at
04:20 AM
| Comments (100)
Post contains 1010 words, total size 9 kb.
Posted by: Vic at August 27, 2013 04:29 AM (lZvxr)
Posted by: Vic at August 27, 2013 04:30 AM (lZvxr)
Posted by: artisanal 'ette at August 27, 2013 04:31 AM (IXrOn)
Posted by: BCochran1981 at August 27, 2013 04:31 AM (da5Wo)
Posted by: Waiting for Caffeine at August 27, 2013 04:32 AM (20MDB)
Posted by: Vic at August 27, 2013 04:33 AM (lZvxr)
OT, hat tip to Insty: Scotty Schlong gets taken to the woodshed for claiming today's GOP would call Reagan a RINO:
http://tinyurl.com/kypehbg
Posted by: Mary Poppins' Practically Perfect Piercing at August 27, 2013 04:33 AM (zF6Iw)
The Treasury will reach the debt limit by mid-October. Or I should say, "the charming genteel fiction known as the 'debt limit'", because it is obvious to every creature upon this earth that the heedless borrowing will go on and on until the SMOD ends it all.
Which is why Syria is so, so urgent. Must wag the doggeh, after all.
Posted by: Mary Poppins' Practically Perfect Piercing at August 27, 2013 04:34 AM (zF6Iw)
Posted by: CarolT at August 27, 2013 04:34 AM (z4WKX)
Posted by: artisanal 'ette at August 27, 2013 04:35 AM (IXrOn)
Posted by: BCochran1981 at August 27, 2013 04:35 AM (da5Wo)
The Belle Curve applies within a demographic as much as it applies across a population. There are seniors who are living on minimum Social Security just as much as there are well off Seniors with TWO public union pensions PLUS social security.
There is no reason why Warren Buffet should 'qualify' for social security just because he's over 72 years of age, nor should those public union pensioners. Social security should be for those who have nothing else.
This is called 'means testing', and the republicans are crucified every time anyone says anything about it.
Posted by: Waiting for Caffeine at August 27, 2013 04:38 AM (20MDB)
Next thing you know we'll be hearing "it takes courage to wipe your ass after taking a dump" PSA's.
Finally, a job tailor-made for Mooch.
Posted by: Mary Poppins' Practically Perfect Piercing at August 27, 2013 04:38 AM (zF6Iw)
Posted by: Stretched-out Lounge Kitteh at August 27, 2013 04:40 AM (BrQrN)
He is wrong. The problem is not "intractable". All they have to do is cut off all forms of welfare. That is ALL.
When they get hungry they will either work or starve. In the end some will be working and the others will be dead. But very few, if any, new ones will be created.
Posted by: Vic at August 27, 2013 04:40 AM (lZvxr)
Posted by: @JohnTant at August 27, 2013 04:41 AM (hNNJ5)
Posted by: backhoe at August 27, 2013 04:41 AM (ULH4o)
The Belle Curve applies within a demographic as much as it applies across a population. There are seniors who are living on minimum Social Security just as much as there are well off Seniors with TWO public union pensions PLUS social security.
I hear Belle's got pretty good curves. Or so the Beast tells me.
Posted by: Mary Poppins' Practically Perfect Piercing at August 27, 2013 04:42 AM (zF6Iw)
Monty also takes on the geezers again, which is sure to draw retaliatory fire. My simple suggestion to this is to go to ANY casino in the US on a weekday from 9am to 5pm, and report back what you see.
I can tell you in advance -- It's wall to wall geezers. THAT's where the disposable income is at. Go take a look on your lunch break, wage slaves.
Posted by: GnuBreed at August 27, 2013 04:46 AM (ccXZP)
Posted by: wierdflunkyonatablet at August 27, 2013 04:48 AM (tlhtD)
Posted by: CarolT at August 27, 2013 04:49 AM (z4WKX)
Posted by: @JohnTant at August 27, 2013 04:49 AM (hNNJ5)
Posted by: wierdflunkyonatablet at August 27, 2013 08:48 AM (tlhtD)
I posted a response on the other thread.
Posted by: Vic at August 27, 2013 04:52 AM (lZvxr)
Posted by: slackmac at August 27, 2013 04:53 AM (O66FG)
1. Hawaii- $49,175
navycopjoe's answer to staying home and playing guitar all day long. It might be worth it, taking a bullet from his wife.
Posted by: EC at August 27, 2013 04:54 AM (GQ8sn)
Posted by: @JohnTant at August 27, 2013 04:54 AM (hNNJ5)
Posted by: wierdflunkyonatablet at August 27, 2013 04:54 AM (tlhtD)
Posted by: Lincolntf at August 27, 2013 04:56 AM (ZshNr)
Posted by: slackmac at August 27, 2013 04:56 AM (O66FG)
Posted by: wierdflunkyonatablet at August 27, 2013 08:54 AM (tlhtD)
Check around for NC State Parks that rent cabins. Hopefully you can find one close enough for wifey to drive over to Builtmore and you can rent a boat at the park and go fishing.
Posted by: Vic at August 27, 2013 04:57 AM (lZvxr)
Posted by: the Charlie Daniels of the torque wrench at August 27, 2013 04:57 AM (srg5s)
around. Taking the Boss Lady to the Biltmore House and have another day
to kill. Something that doesn't involve strippers/hookers, seriously you
guys.
Posted by: wierdflunkyonatablet at August 27, 2013 08:48 AM (tlhtD)
Lots of good weed up there too. Or so I heard.
Posted by: EC at August 27, 2013 04:57 AM (GQ8sn)
Posted by: wierdflunkyonatablet at August 27, 2013 04:59 AM (tlhtD)
Posted by: Vic at August 27, 2013 05:00 AM (lZvxr)
Posted by: slackmac at August 27, 2013 05:00 AM (O66FG)
Posted by: Lincolntf at August 27, 2013 05:02 AM (ZshNr)
Posted by: wierdflunkyonatablet at August 27, 2013 05:02 AM (tlhtD)
Any Western Carolina/Asheville morons around. Taking the Boss Lady to the Biltmore House and have another day to kill. Something that doesn't involve strippers/hookers, seriously you guys.
Hm. We have an indoor pistol range, On Target. I think they may rent out pistols. Walking around downtown can be interesting.
Posted by: Grey Fox at August 27, 2013 05:03 AM (210xL)
Hell, has anyone -- hint, hint Republicans -- even ASKED?
As my Flip Wilson talking doll used to say: "I smell a rat, and the wind is coming from your direction!"
Posted by: MrScribbler at August 27, 2013 05:03 AM (kaGpp)
How to tap a beer keg with det cord.
http://youtu.be/2OmFmsjIt2E
Slo-mo near the end is pretty dang cool!
Posted by: EC at August 27, 2013 05:04 AM (GQ8sn)
Posted by: CarolT at August 27, 2013 05:05 AM (z4WKX)
Posted by: Grey Fox at August 27, 2013 05:06 AM (210xL)
Posted by: Jenny Hates Her Phone at August 27, 2013 05:07 AM (GmTxn)
Treasury Secretary Jack Lew challenged Congress on Tuesday to raise the debt limit-telling CNBC that President Barack Obama will not negotiate over the issue.
"What we need in our economy is some certainty. We don't need another self-inflicted wound," Lew said in a "Squawk Box" interview. "Congress should come back and they should act."
He added, "We don't need another crisis at the last minute" because it causes uncertainty in the financial markets.
No of course not. We need Barry's sound fiscal policy that's like a drug addict looking for a fix
Posted by: TheQuietMan at August 27, 2013 05:08 AM (1Jaio)
Posted by: wierdflunkyonatablet at August 27, 2013 09:02 AM (tlhtD)
Probably be OK out in the mountains, but around Ashville it would be about like a flaming turd on a front porch.
Posted by: Vic at August 27, 2013 05:08 AM (lZvxr)
NEW YORK (Reuters) - Stock futures fell further on Tuesday after Western powers told the Syrian opposition to expect a strike against President Bashar al-Assad's forces within days, according to sources who attended a meeting between envoys and the Syrian National Coalition in Istanbul.
S&P 500 futures fell 16 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration of the contract. Dow Jones industrial average futures lost 113 points and Nasdaq 100 futures fell 35 points.
The stock market is joining the rest of the economy in the crapper
Posted by: TheQuietMan at August 27, 2013 05:09 AM (1Jaio)
Scott Brown ruined his career.
Preaching to the choir, Carol. Look, despite my hard-assedness, I know that sometimes - very sometimes, you do have to work with the other side to get something done. I could forgive Brown that. But to start your career as an "independent voice" by cozying up to Barney Frank, of all people, was the death blow for me. It meant either Brown was too stupid, too gullible or already too corupted to be a stand-up guy. Nothing he has said or done afterwards has changed my opinion. And Howie Carr shot his wad with me as well, demonstrating what a total gasbag lickspittle he is.
OK, 'rons, phone keeps ringing. It's going to be one of those days. See you all later.
Posted by: Mary Poppins' Practically Perfect Piercing at August 27, 2013 05:10 AM (zF6Iw)
Probably be OK out in the mountains, but around Ashville it would be about like a flaming turd on a front porch.
You do realize that there are plenty of us non-commies here too, right? As a matter of fact, Asheville is something of a center for builders of custom-made muzzleloading rifles.
Posted by: Grey Fox at August 27, 2013 05:11 AM (210xL)
Posted by: Beagle at August 27, 2013 05:13 AM (sOtz/)
Posted by: Sherry McEvil, Stiletto Corsettes C'est Magnifique at August 27, 2013 05:13 AM (Z0zZR)
Posted by: soothsayer at August 27, 2013 05:13 AM (cfAmX)
Posted by: Lincolntf at August 27, 2013 05:13 AM (ZshNr)
The Seattle minimum wage hike makes perfect sense - if you understand the mindset. It's the plan to boot the on-the-books low wage workers out of the area by pricing them out of the labour market. That way, it'll all be mid to upper wage workers, or off-the-books illegals when the rich want their parties waitered or their lawns mowed. Boom, massive savings on social welfare, and the SWPL types get to boast that they live in a well run socialist Utopia, having kicked out anyone who would make that inconvenient.
New York City, and San Francisco have done something similar, although NYC has taken it to whole new lows/highs. (What, you think making these places inhospitable for poor and/or minority people isn't the aim? Implicit whiteness, people.)
Posted by: Lizzie at August 27, 2013 05:14 AM (3hJcU)
Posted by: Foghorn Leghorn at August 27, 2013 05:15 AM (5VlHf)
Posted by: slackmac at August 27, 2013 05:16 AM (O66FG)
Posted by: wierdflunkyonatablet at August 27, 2013 05:17 AM (tlhtD)
Posted by: Captain Hate on an iPhone at August 27, 2013 05:17 AM (SD89Q)
People who win the big prize on looks are often credited with being smarter than they actually are, especially by themselves.
Posted by: Miss Marple at August 27, 2013 05:18 AM (GoIUi)
Posted by: Grey Fox at August 27, 2013 09:11 AM (210xL)
I expected there would be a few. But I had a niece who attended Warren-Wilson. She found in a great school. She is about as flaming a liberal as her mother. Warren-Wilson is a den of lefty trolls.
But personally, other than driving through it, I have never been to Ashville. Those muzzle loader folks in Ashville or out in the surrounding area?
Posted by: Vic at August 27, 2013 05:19 AM (lZvxr)
ObamaWipe is a new entitlement program being formed to combat the need to wipe one's ass. Apparently it will come as an exclusive ObamaPhone app. Details are sketchy and lips are sealed on this Cass Sundstein project.
Posted by: dfbaskwill at August 27, 2013 05:20 AM (71LDo)
Have you heard the story about how they're throwing themselves these lavish weddings because they couldn't afford a fancy wedding when they were younger?
Posted by: RoyalOil at August 27, 2013 05:22 AM (VjL9S)
Posted by: Miss Marple at August 27, 2013 05:25 AM (GoIUi)
Posted by: slackmac at August 27, 2013 05:27 AM (O66FG)
Posted by: President For Life Obama at August 27, 2013 05:28 AM (tNwd1)
Posted by: slackmac at August 27, 2013 09:27 AM (O66FG)
Slackmac, it's my understanding that J.J.'s busy with a paying gig this week, so may not be readily available. I'm afraid I don't have his contact mail, so all I can suggest is checking in every now and then today to see if you two match up.
And thanks for the compliment. You do me more credit than I deserve. I'm just an entertainer; the intellectual firepower resides in other commenters.
Posted by: Mary Poppins' Practically Perfect Piercing at August 27, 2013 05:30 AM (zF6Iw)
and the craftsperson's initials are evidently NEA...
Posted by: Chelsea10077 at August 27, 2013 05:30 AM (A4hKL)
Posted by: slackmac at August 27, 2013 05:30 AM (O66FG)
But personally, other than driving through it, I have never been to Ashville. Those muzzle loader folks in Ashville or out in the surrounding area?
Nearby area, I think. Jim Chambers Gunlocks is out in Canton, Rice Barrel Co. was in Fairview (about 20 minutes from where I live) until a few years ago.
Asheville is really not that bad, at least off campus. I fellow I met when I was in Mississippi a few years back said that he had spent time in both Asheville and Oregon, and that while Asheville liked to think of itself as "weird" it was pretty tame compared to Seattle and places like that.
The real problem with Asheville is that it is a tourist town, so there are no jobs apart from service peon and lawyer/doctor.
Posted by: Grey Fox at August 27, 2013 05:31 AM (210xL)
Posted by: Secretlyconservative at August 27, 2013 05:32 AM (H4OE1)
Posted by: CarolT at August 27, 2013 05:32 AM (z4WKX)
My understanding is this is common now.
TheKnot.com and WeddingChannel.com's annual Real Weddings Study revealed that the average amount spent on a wedding in 2012 was $28,427, with couples dropping more cash than they have in the past four years on all aspects of the event.
Posted by: Vic at August 27, 2013 05:32 AM (lZvxr)
So, how will Obama get out of this embarrassing mess?
Methinks we need an event to distract everyone. You can bet he hs his minions combing local news stories to look for something, anything, to make into a cause celebre.
Posted by: Miss Marple at August 27, 2013 05:32 AM (GoIUi)
Oh and fuck Scotty Brown. He decided to play it as a Dem with basically ONE Republican vote under his belt, and lost ignominiously to a piece of shit like Warpath Lizzy.
Posted by: GnuBreed at August 27, 2013 05:33 AM (ccXZP)
Posted by: CarolT at August 27, 2013 05:35 AM (z4WKX)
BUT because he THINKS he is smart he didn't realize WHY he won. So he was lured to the dem side thinking he was going to make some super deal and get them to see things his way.
That is what I mean. He isn't as smart as he thinks he is. And if he is using Schmidt and Wallace, I KNOW that he is as dumb as a box of rocks.
Posted by: Miss Marple at August 27, 2013 05:36 AM (GoIUi)
Posted by: CarolT at August 27, 2013 05:37 AM (z4WKX)
Posted by: mellow at August 27, 2013 05:38 AM (t3Yjv)
Posted by: slackmac at August 27, 2013 05:39 AM (O66FG)
Posted by: Karl Rover at August 27, 2013 05:40 AM (XdnQT)
Okay, I don't have a dog but still...
Posted by: GnuBreed at August 27, 2013 05:41 AM (ccXZP)
Posted by: Captain Hate on an iPhone at August 27, 2013 05:43 AM (SD89Q)
Posted by: Margarita DeVille at August 27, 2013 05:45 AM (C8mVl)
Posted by: no good deed at August 27, 2013 05:47 AM (WmLrU)
What do you think all those "wash your hands" signs are?
Posted by: Brown Line at August 27, 2013 05:53 AM (VrNoa)
Posted by: BignJames at August 27, 2013 05:58 AM (HtUkt)
"...but it's really a giant generational wealth transfer from the relatively poor young to the relatively wealthy old."
You do know that's a left wing liberal/progressive meme, right?
I thought that working all your life, saving your money and investing your savings and preparing for your golden years was a good thing. Now, we're stealing from the younger generation because we...spent forty or fifty years -or more- working for a living??? WTF?
Posted by: Warren Bonesteel at August 27, 2013 05:59 AM (klGLB)
At this point I'm ready to say that money is only as good as the use one puts it to, and these days my idea of savings and investments is oriented toward tangible property. You can't eat dollars, they do a crappy job of keeping rain off of your head and in a very real sense these days buy a lot less than they used to. I don't see things getting much better in the immediate future.
I'm a fifty year old state employee in the fine Commonwealth of Pennsylvania; I make a stable salary and supposedly have a guaranteed pension if I make it to retirement. That's ten to fifteen years from now, which doesn't seem all that long. But five years ago who would have thought that half a decade would feel like a lifetime? At this point I don't even bother thinking about Social Security when I retire--it's already pining for the fjords--and I'm not exactly confident about that pension. I keep getting a mental image of a rusty lockbox with some cobwebs, a dead spider and a petrified Nekko wafer in it on top of an IOU.
What makes matters worse is that I live and work in Philadelphia for the Department of Public Welfare. Every day I see where the money--such that it is--is going. And then I go to work. It would almost be funny if I weren't sitting in the front row with some mooch's hand in my popcorn bucket and his screaming SSI kids behind me. The state capitol is pert near broke, yet Philly still siphons off the bulk of the state's funds. Trust me when I say that the rest of the state wants it either annexed by New Jersey or floating out to sea, whichever comes first. I don't see things getting much better when I'm getting seven to ten new cases nearly every day and subway billboards are recruiting Food Stamp applicants. This will not be the place to be when people start swiping EBT cards and getting either funny money or nothing at all, and I have no intention of being here when that happens.
Money in the bank used to be a good thing, but these days real estate--somewhere away from the cities--is infinitely better. And I'm not talking about renting, I'm talking about ownership with a mortgage that can be paid off before we start seeing three dollar bills with Barky The First's picture replacing the current greenback (And has anyone else noticed that the bills make the presidents look like bad knock-off Hanna Barbera cartoons? What exactly was the point of that in light of the fact that our own government can't quite manage to counterfiet C-note?). That and a reliable vehicle (again, paid off) look to me to be a much better investment than a pile of electronic paper sitting in a virtual vault, and right about now would be the time to move in that direction.
Risky? Sure--what isn't anymore? Maybe the money may one day be worth something again, and maybe the Detroit Lions and the Philadelphia Eagles might play each other in the Superbowl. I'll pass on those bets. Call me nuts--you wouldn't be alone--but a country house that can be lived in and kept in the family is worth far more that conventional savings these days. Just my two bucks (Yeah I know it used to be two cents; people also used to wear bellbottoms)....
Posted by: Jenk at August 27, 2013 06:34 AM (8xKUx)
Posted by: BignJames at August 27, 2013 09:58 AM (HtUkt)
Read a news story a couple of years ago about some Detroit welfare queen who was pulling in $75K a year in welfare and disability payments for her children who were diagnosed with ADD.
All it takes is a quack doctor and someone who knows how to beat the system. Having illegitimate children has now become an occupation.
And it doesn't cost much to "raise" them when you simply turn them out on the street.
Posted by: Vic at August 27, 2013 06:34 AM (lZvxr)
Posted by: Y-not is so over it at August 27, 2013 06:38 AM (5H6zj)
Well, 'happy' that it's back --- here. Not so much that DOOM is still trucking right along and will be paying us all a visit at some near future point. Not that we don't deserve it, but interesting times be on the horizon.
Posted by: Dougf at August 27, 2013 02:27 PM (mO4oW)
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Posted by: DeFacto at August 27, 2013 04:28 AM (Q1+WW)