May 11, 2009

I Blame Bush

Why not, everybody else does. Clearly his administration did not run deficits high enough to scare the crap out of everyone about deficit spending.

White House: Budget deficit to top $1.8 trillion

Setting aside the 40% annualized inflation rate of last month's White House deficit estimate, what this means is that for every one of the 31,536,000 seconds of the coming year the federal government will spend $57,077 it does not have.

So, I'll have to ask again, is it going to be debt repudiation or inflation?

Posted by Charles Austin at 02:29 PM | Comments (1)

May 07, 2009

Playing Roulette With the House's Money


Rather than ask about the other dominant color on the roulette wheel, I am more inclined to wonder whether all that green means this is Year 0 or Year 00.

Posted by Charles Austin at 04:19 PM | Comments (0)

A Question for the Guys

Would your company's dress code frown upon you wearing a dress?

Posted by Charles Austin at 03:51 PM | Comments (2)

Adventures in Headline Writing

Bank stress tests show some banks need more funds

Here, let me fix that for you:

Bank stress tests show some banks need more funds to go under

But no worries:

Officials have said they will not let any of the 19 institutions fold.

Do you ever get the idea that the term "moral hazard" means nothing to our political masters?

Posted by Charles Austin at 03:30 PM | Comments (0)

The Visible Hand

Henceforth, when federal tax dollars, or perhaps more correctly debtor obligations, are used to purchase vehicles for any federal agency or state or municipal agency using federal dollars, will there be a bias towards purchasing Chrysler and GM vehicles over Fords?

Will this be the end of the Ford Crown Victoria Police Interceptor? Then again, it may have already been on the way out.

Posted by Charles Austin at 02:53 PM | Comments (0)

Shiller's Remorse

Has anyone seen a good explanation yet of why Ms. McArdle, Mr. Brooks, and Mr. Buckley thought that President Obama wasn't going to do everything that candidate Obama said he was going to do? Especially with a compliant Congress?

I suppose it's a good thing that they see the error of their ways now, but some mistakes are so big they are not easily forgiveable.

Posted by Charles Austin at 02:19 PM | Comments (1)

Strike A Pose

Should Al Gore be statuated planting tobacco, counting his global warming millions, trying to selectively count votes, or something else? At least they should make it out of wood to be environmentally friendly, for the children, don't you think?

A resolution urging the creation of statues to be built on the Tennessee Capitol grounds of the state's two Nobel Peace Prize winners, Al Gore and Cordell Hull, is on its way to a full Senate vote.

Why don't we just go full Roman and start declaring our political masters gods and be done with it?

Posted by Charles Austin at 01:56 PM | Comments (0)

Chocolate Rations Increased to 20 Grams!

In a depressingly recurring scenario, the Obama administration announces a very negative fact as a great positive! And the great unwashed eat it up:

A White House official hit back at claims the administration was making only modest savings by shaving 17 billion dollars off a whopping 3.4 trillion dollar US budget due to be unveiled Thursday. "I'm going to come back and say, under any set of assumptions, finding the 17 billion dollars a year, I don't think, is a side show," White House budget chief Peter Orszag said on MSNBC.

I agree with Mr. Orszag, this isn't a sideshow. To qualify as a sideshow the savings should be at least 3-4%, not a paltry 0.5%. Unsurprisingly, half the 121 programs cut come from the defense department. Who could have guessed that? Here's an idea though for the future, strike anything that has Murtha, Byrd, or any other Congressperson's name in it. Why, I'll bet we can get to sideshow status in a New York minute!

But get this, straight from President Obama's lips:

Answering criticism that his cuts were but a drop in a multi-trillion-dollar spending bucket, Obama said: "Some of the cuts we're putting forward today are more painful than others. Some are larger than others. In fact a few of the programs we eliminate will produce less than a million dollars in savings. Outside of Washington, that's still a lot of money."

Gives you a lot of insight as to what he really thinks of all you rubes out there doesn't it?

DOWNDATE: E-mailed this to Instapundit in response to his using the same "news" reports about President Obama's budget knife: When all you've got experience with is a ladle, every problem looks like an empty soup bowl.

Posted by Charles Austin at 01:43 PM | Comments (1)

May 06, 2009

Star Trek

Haven't seen the eleventh Star Trek movie yet, but if the commercials are any indication it looks as though it will be virtually indistinguishable from any of a dozen Jerry Bruckheimer produced movies where lots of things move around really fast with lots of CGI right up to the point where they explode. Apparently some people like that sort of thing, but why it will make Star Trek more popular escapes me.

Posted by Charles Austin at 03:12 PM | Comments (2)

May 05, 2009

Penny for Your Thoughts Stock

Well, that's one way to avoid delisting on the NYSE: GM plans 1-for-100 reverse stock split.

Posted by Charles Austin at 08:13 PM | Comments (0)

Do Us a Favor Favre

The Bret Favre NFL retirement tour enters its fifth year:

Citing an anonymous source "with direct knowledge of the discussions between the two parties," ESPN reported Tuesday that Favre is scheduled to meet with Vikings coach Brad Childress later this week about a possible comeback with Minnesota.

Posted by Charles Austin at 08:08 PM | Comments (1)

Presidential Succession Question

Do you think Hillary Clinton accepted the position of Secretary of State because she realized that fifth in line to the presidency was as close as she was ever going to get?

Posted by Charles Austin at 01:02 PM | Comments (1)

May 03, 2009

Charles Erwin Wilson President Obama Says, "What's Good for General Motors Is Good for the Country"

Well, that's a bit of a scary thought isn't it? But when the current UAW contract expires do you think they'll pick GM, Chrysler or Ford as the lead or target company for bargaining? Strangely enough, I don't think the answer is as obvious as it seems at first blush, depending on just how devious you think President Obama and the UAW are.

DOWNDATE: According to Wikipedia, what Charles Erwin Wilson actually said during his confirmation hearings was:

"... because for years I thought what was good for the country was good for General Motors and vice versa".

A distinction without a difference or a subtly nuanced change that captures perfectly what has happened?

Posted by Charles Austin at 01:42 PM | Comments (1)