The Current Events, News, and Politics Thread
03-30-2013, 08:07 AM
#4121
Boost Czar
Thread Starter
iTrader: (62)
Join Date: May 2005
Location: Chantilly, VA
Posts: 79,493
Total Cats: 4,080
I love objective Journalism:
msnbc recognizes that Dr. Ben Carson is surrounded by too many white elephants and therefore has become blind.
msnbc recognizes that Dr. Ben Carson is surrounded by too many white elephants and therefore has become blind.
Last edited by Braineack; 10-08-2019 at 09:48 AM.
Reply
0
0
04-01-2013, 09:15 AM
#4122
Boost Czar
Thread Starter
iTrader: (62)
Join Date: May 2005
Location: Chantilly, VA
Posts: 79,493
Total Cats: 4,080
Here's a good scrappy read:
DAVID STOCKMAN: We've Been Lied To - Business Insider
DAVID STOCKMAN: We've Been Lied To - Business Insider
Then, when the Fed’s fire hoses started spraying an elephant soup of liquidity injections in every direction and its balance sheet grew by $1.3 trillion in just thirteen weeks compared to $850 billion during its first ninety-four years, I became convinced that the Fed was flying by the seat of its pants, making it up as it went along. It was evident that its aim was to stop the hissy fit on Wall Street and that the thread of a Great Depression 2.0 was just a cover story for a panicked spree of money printing that exceeded any other episode in recorded human history.
David Stockman, The Great Deformation
David Stockman, The Great Deformation
Reply
0
0
04-01-2013, 09:34 AM
#4124
Boost Czar
Thread Starter
iTrader: (62)
Join Date: May 2005
Location: Chantilly, VA
Posts: 79,493
Total Cats: 4,080
It's like I can see the future:
Capitol Alert: State auditor: California's net worth at negative $127.2 billion
A new financial report by California State Auditor and the Bureau of State Audits shows that California is heading down the tubes, and fast—it now has a negative net worth of $127.2 billion. It’s actually worse than that; although the report counted the state's long-term obligations at $167.9 billion, that doesn’t count unfunded liabilities for state employees' future pensions* or the $60 billion in unfunded liabilities for retiree health care. Both of those costs have been listed by the Governmental Accounting Standards Board and Moody's as costs that states and localities should include in their budgetary assessments.
If those costs were included in California’s budget sheet, the state’s net worth would decline hundreds of billions of dollars more. Of the $167.9 billion in long-term obligations, $79.9 billion came from general obligation bonds, and $30.8 billion came from revenue bonds which were largely used to build state prisons.
The report asserted that California spent $1.7 billion more in the 2011-12 fiscal year than it took in, leaving the state in arrears almost $23 billion. Of the $127.2 billion spent by the state, roughly half of it resulted from the state issuing general obligation bonds which were then distributed to local governments and school districts for public works projects. Those assets were listed on the balance sheets of the localities involved, while the state accrued the bonded debt.
If those costs were included in California’s budget sheet, the state’s net worth would decline hundreds of billions of dollars more. Of the $167.9 billion in long-term obligations, $79.9 billion came from general obligation bonds, and $30.8 billion came from revenue bonds which were largely used to build state prisons.
The report asserted that California spent $1.7 billion more in the 2011-12 fiscal year than it took in, leaving the state in arrears almost $23 billion. Of the $127.2 billion spent by the state, roughly half of it resulted from the state issuing general obligation bonds which were then distributed to local governments and school districts for public works projects. Those assets were listed on the balance sheets of the localities involved, while the state accrued the bonded debt.
Last November, voters passed an increase in sales and income taxes that Brown says will balance the state's operating budget and allow the debt wall to be gradually dismantled.
*missing approximately $622.8 BILLION in the unfunded liabilities.
Reply
0
0
04-01-2013, 09:52 AM
#4125
Elite Member
iTrader: (2)
Join Date: Sep 2008
Location: Central Florida
Posts: 2,799
Total Cats: 179
So, lots of us know about the various pagan aspects that the Christians included in their Easter rites. How many of us knew (prior to going to Wikipedia after reading this sentence) where the name "Easter" comes from?
I didn't until I read a novel (American Gods) that referenced it.
I didn't until I read a novel (American Gods) that referenced it.
Last edited by Braineack; 10-08-2019 at 09:48 AM.
Reply
0
0
04-01-2013, 10:04 AM
#4126
Boost Czar
Thread Starter
iTrader: (62)
Join Date: May 2005
Location: Chantilly, VA
Posts: 79,493
Total Cats: 4,080
fertility!
I just don't quite understand the thought process behind using Chavez instead of a bunny on Easter. It's offensive to me and I don't believe in Jesus or murder.
I just don't quite understand the thought process behind using Chavez instead of a bunny on Easter. It's offensive to me and I don't believe in Jesus or murder.
Reply
0
0
04-01-2013, 10:08 AM
#4127
Elite Member
iTrader: (2)
Join Date: Sep 2008
Location: Central Florida
Posts: 2,799
Total Cats: 179
The banks quickly worked out their solvency issues because the Fed basically took it out of the hides of Main Street savers and depositors throughout America. When the Fed panicked, it basically destroyed the free-market interest rate – you cannot have capitalism, you cannot have healthy financial markets without an interest rate, which is the price of money, the price of capital that can freely measure and reflect risk and true economic prospects.
Well, once you basically unplug the pricing mechanism of a capital market and make it entirely an administered rate by the Fed, you are going to cause all kinds of deformations as I call them, or mal-investments as some of the Austrians used to call them, that basically pollutes and corrupts the system. Look at the deposit rate right now, it is 50 basis points, maybe 40, for six months. As a result of that, probably $400-500 billion a year is being transferred as a fiscal maneuver by the Fed from savers to the banks. They are collecting the spread, they've then booked the profits, they've rebuilt their book net worth, and they paid back the TARP basically out of what was thieved from the savers of America. [Emphasis added]
Well, once you basically unplug the pricing mechanism of a capital market and make it entirely an administered rate by the Fed, you are going to cause all kinds of deformations as I call them, or mal-investments as some of the Austrians used to call them, that basically pollutes and corrupts the system. Look at the deposit rate right now, it is 50 basis points, maybe 40, for six months. As a result of that, probably $400-500 billion a year is being transferred as a fiscal maneuver by the Fed from savers to the banks. They are collecting the spread, they've then booked the profits, they've rebuilt their book net worth, and they paid back the TARP basically out of what was thieved from the savers of America. [Emphasis added]
As for the transfer of funds from taxpayers to banks, I could make some arguments with the details, but look at where he ends up: with money going from the government (TARP, etc) to banks back to the government. When the Federal Reserve makes interest profit from its holdings, that profit goes to the US Treasury (government). When the banks paid back their TARP funds, it went to the US Treasury (government).
Ironically, to a large degree, super low interest rates may be transferring money from taxpayers to the government as a type of tax on investment (aka savings) income.
There is also some supposition of the counterfactual. That is, a phrase like this:
Of course, history shows that our markets and economy would have been better off had the system been allowed to correct. Most of the "too big to fail" institutions would have survived or been broken into smaller, more resilient, entities. For those that would have failed, smaller, more responsible banks would have stepped up to replace them - as happens as part of the natural course of a free market system[...][Emphasis added]
Personally, I would have been in favor of more government receivership and FDIC-style dismantling of insolvent institutions rather than the pure bailouts or shotgun weddings that occurred, but I do not agree that a completely hands-off approach would have gone smoothly and not affected "Main Street."
Reply
0
0
04-01-2013, 11:26 AM
#4131
Boost Czar
Thread Starter
iTrader: (62)
Join Date: May 2005
Location: Chantilly, VA
Posts: 79,493
Total Cats: 4,080
i was just responding to your picture, i wasnt answering questions.
i know less about any religious customs, symbols, teachings, than i do about having sex.
i know less about any religious customs, symbols, teachings, than i do about having sex.
Reply
0
0
04-01-2013, 12:40 PM
#4132
My state is circling the toilet bowl, but the joke's on everyone else. As long as we default in the next four years, this Blue State haven will get bailed out by B.O., just as sure as he'll declare Commie Racist Cesar Chavez Day on Good Friday.
Now I know how the Polish felt when Obama cancelled the missile shield on the anniversary of the invasion of Poland by the Russkies.
Now I know how the Polish felt when Obama cancelled the missile shield on the anniversary of the invasion of Poland by the Russkies.
It's like I can see the future:
Capitol Alert: State auditor: California's net worth at negative $127.2 billion
but remember:
so rest assure, folks.
*missing approximately $622.8 BILLION in the unfunded liabilities.
Capitol Alert: State auditor: California's net worth at negative $127.2 billion
but remember:
so rest assure, folks.
*missing approximately $622.8 BILLION in the unfunded liabilities.
Reply
0
0
04-01-2013, 01:46 PM
#4134
I think this video qualifies for the hilarious category.
What We Saw at the Occupy Wall Street Protest - YouTube
Best part of the entire vid is the black guy wearing the Che Guevara T-shirt L.O.L.
Are these people too good and special to read a ******* book?
What We Saw at the Occupy Wall Street Protest - YouTube
Best part of the entire vid is the black guy wearing the Che Guevara T-shirt L.O.L.
Are these people too good and special to read a ******* book?
I would strongly support a movement in which every time someone wishes the US to be socialist or communist that person be granted his/her wish and be shipped over to Cuba.
favorite quote of the video
"So you don't agree with socialism?"
"No"
"Whyyyyy?"
Last edited by buffon01; 04-01-2013 at 01:57 PM.
Reply
0
0
04-01-2013, 02:24 PM
#4136
Boost Czar
Thread Starter
iTrader: (62)
Join Date: May 2005
Location: Chantilly, VA
Posts: 79,493
Total Cats: 4,080
there's a reason MD is in the bottom 7 states for freedom:
punishing victims of crimes.
Political cowards in the Maryland legislature scheduled a gun hearing on Good Friday to avoid media attention after a massive public outcry against this overreaching legislative firearm grab. Then...they broke their own parliamentary procedures in order to punish legal firearm owners and protect criminals.
Republican delegate Mike Smigiel introduced a common-sense amendment to Gov. O'Malley's S.B. 281--an amendment that would have punished criminals who steal guns from the homes of their owners. The original bill only punished the firearm owner for having his or her home broken into, but contained no punishment for the actual criminal. Smigiel's amendment passed on a proper committee vote. But the committee Chair then took the unprecedented step of ordering a new vote. The Chair was then able to use bullying tactics to force two Democrats to change their votes which, in turn, killed the amendment.
Republican delegate Mike Smigiel introduced a common-sense amendment to Gov. O'Malley's S.B. 281--an amendment that would have punished criminals who steal guns from the homes of their owners. The original bill only punished the firearm owner for having his or her home broken into, but contained no punishment for the actual criminal. Smigiel's amendment passed on a proper committee vote. But the committee Chair then took the unprecedented step of ordering a new vote. The Chair was then able to use bullying tactics to force two Democrats to change their votes which, in turn, killed the amendment.
Last edited by Braineack; 10-08-2019 at 09:48 AM.
Reply
0
0
04-01-2013, 03:20 PM
#4137
Elite Member
iTrader: (2)
Join Date: Sep 2008
Location: Central Florida
Posts: 2,799
Total Cats: 179
Laffer Curve vs Climate Change!
So, the WSJ ran an article discussing the migration of people from Blue Cities to Red Cities. In finding that people left Blue Cities and people moved to Red Cities, they concluded that:
Laffer and Moore: The Red-State Path to Prosperity - WSJ.com
However, upon further analysis, it appears the real reason is climate change. I present graphical evidence:
As you can see, the average temperature in the chilliest of the Red Cities listed in the article is greater than the warmest of the Blue Cities listed in the article. Based on this, it is obvious to me that people are seeking to change their climate and that Laffer & Moore are simply misconstruing the evidence.
- the listed Blue Cities are in states that "are implementing the Obama model of raising taxes on businesses and the wealthy to fund government "investments" and union power"
- the listed Red Cities are in states that "are following the Reagan model by reducing tax rates and easing regulations"
- people were moving from Blue Cities to Red Cities
- people were moving because they found #2 to be more attractive than #1
Laffer and Moore: The Red-State Path to Prosperity - WSJ.com
However, upon further analysis, it appears the real reason is climate change. I present graphical evidence:
As you can see, the average temperature in the chilliest of the Red Cities listed in the article is greater than the warmest of the Blue Cities listed in the article. Based on this, it is obvious to me that people are seeking to change their climate and that Laffer & Moore are simply misconstruing the evidence.
Last edited by Braineack; 10-08-2019 at 09:48 AM.
Reply
0
0
04-01-2013, 03:30 PM
#4139
Boost Czar
Thread Starter
iTrader: (62)
Join Date: May 2005
Location: Chantilly, VA
Posts: 79,493
Total Cats: 4,080
So, the WSJ ran an article discussing the migration of people from Blue Cities to Red Cities. In finding that people left Blue Cities and people moved to Red Cities, they concluded that:
However, upon further analysis, it appears the real reason is climate change. I present graphical evidence:
As you can see, the average temperature in the chilliest of the Red Cities listed in the article is greater than the warmest of the Blue Cities listed in the article. Based on this, it is obvious to me that people are seeking to change their climate and that Laffer & Moore are simply misconstruing the evidence.
- the listed Blue Cities are in states that "are implementing the Obama model of raising taxes on businesses and the wealthy to fund government "investments" and union power"
- the listed Red Cities are in states that "are following the Reagan model by reducing tax rates and easing regulations"
- people were moving from Blue Cities to Red Cities
- people were moving because they found #2 to be more attractive than #1
However, upon further analysis, it appears the real reason is climate change. I present graphical evidence:
As you can see, the average temperature in the chilliest of the Red Cities listed in the article is greater than the warmest of the Blue Cities listed in the article. Based on this, it is obvious to me that people are seeking to change their climate and that Laffer & Moore are simply misconstruing the evidence.
I've posted where we concluded that cold weather causes more murders, so maybe it's more of a more for personal safety.
Reply
0
0
04-01-2013, 04:04 PM
#4140
Boost Pope
iTrader: (8)
Join Date: Sep 2005
Location: Chicago. (The less-murder part.)
Posts: 33,023
Total Cats: 6,591
I find it interesting that many of the states which are "least free" are the ones which have the highest percentage of craft breweries per capita, allow you to produce and consume marijuana, and permit gay marriage, while the "most free" states are the ones which still enforce prohibition, in which possession of marijuana is a capital offense, and whose citizens, by and large, view homosexuality as evidence of allegiance with Satan.
I would posit that if you replace "most free" with "most redneck," and "least free" with "least intolerant," the map would read pretty much the same.
I would posit that if you replace "most free" with "most redneck," and "least free" with "least intolerant," the map would read pretty much the same.
Reply
0
0
