Wednesday, January 5, 2011

Irish Banks' Deposit Base Declines 15 Percent in Last Year

So says a story here for Fortune, which also asserts that foreign depositors have pulled out 100 billion Euros since 2008.

What BankRun2010 failed to accomplish on the Continent with premeditation might actually have been happening all along in Ireland. There are worries that a cascade of withdrawals might trigger runs in the rest of the PIIGS.

Tuesday, January 4, 2011

Retirement Assets Declined 22 Percent in 2008

Whenever government sees something big, it either wants to tax it or confiscate it.

Here's the data about retirement assets for 2008, according to the Investment Company Institute, totaling just over $14 trillion:

IRA assets = $3.613 trillion
Defined contribution plans (401Ks, 403(b)s, 457s, etc.) = $3.517 trillion
Defined benefit plans (private sector pensions, government pensions, life insurance company annuities, etc.) = $6.9 trillion.

In 2007 such assets totaled nearly $18 trillion.


WAPO's Richard Cohen Still Hates America

In a twisted, weird rant about today's All Volunteer Army vs. his army of the Vietnam War era, Richard Cohen of The Washington Post displays the self-loathing which is still at the heart of liberalism, saying that today's army, mostly white and Southern, is only wonderful to today's general public because most of us are strangers to it, while his army of the bygone days was an army of the people, familiar and contemptible:

Yet one was an army of the people, draftees and such, and the other is an army of volunteers, strangers to most of us. What's happening here? The answer, I fear, is a cliche: Familiarity breeds contempt.

In other words, if you only knew the truth about people you'd say America sucks, too, and you wouldn't idolize the military so.

Don't worry, Richard. Today's army is only going to get more wonderful as all those white Southerners who fight your wars for you bail out with the influx of the queers. Somehow I think you will like this just fine.

Confiscation of Your Retirement Funds is Unthinkable, Right?

Well, not in Europe, where private monies have already been taken by statist spendthrifts in Hungary, Bulgaria and Poland, according to this story in The Christian Science Monitor, originally posted at the Polish arm of The Ludwig von Mises Institute (here).

The same people greedy bastards in this country who brought you Obamacare are just as enthusiastic about taking your IRAs, 401Ks and the like, people like Democrat Senator Tom Harkin of Iowa.

Political realities right now mean that the plan eyeing your savings will sit in some Democrat's desk until times change, just as Obamacare was really a bill long pre-dating him, sitting in Representative Henry Waxman's top drawer for over a decade until the moment was right.

The difference between liberals and Republicans in America is that liberals have a long term strategy to take over and transform the country, while so-called conservatives keep backing up, drawing new lines in the sand in a strategy of retreat, daring liberals to cross them, which they invariably do. The policies of these conservatives are offensive enough to liberals, but it is conservatives' cowardice which really inspires their contempt.

The failure to install gays in the military and Hillarycare in 1994 took 16 years to redress, but liberalism surely did so with its victories in 2010, overturning DADT and passing Obamacare.

Individual liberty, the foundation of which is in traditional values derived from revealed religion, has been under assault in America since the victory of Abraham Lincoln and the united States became the United States. The war between originalism and "a more perfect union" was decided long ago by force. The contemporary Republican Party will be a conservative party when it finally realizes this, but frankly, it doesn't have the nerve.

Sunday, January 2, 2011

A Barbarian, Supposedly America's Finest, is in Charge of the USS Enterprise

What kind of a country produces people like this, and puts them in charge of American power? A country that's finished, that's what. When they're done with the enemy, we'll be next.

The story and video are at this link:

They're all part of a series of short movies produced aboard the Norfolk-based aircraft carrier Enterprise in 2006 and 2007 and broadcast to its nearly 6,000 sailors and Marines. The man who masterminded and starred in them is Capt. Owen Honors - now the commander of the carrier, which is weeks away from deploying.

The videos, obtained by The Virginian-Pilot this week, were shot and edited with government equipment, many of them while the Enterprise was deployed supporting the wars in Iraq and Afghanistan.

At the time, Honors was the carrier's executive officer, or XO, the commanding officer's deputy. He took command of the ship in May.

Homeland Security Will Watch Entire US Cities With GORGON STARE, and Soon

From a very disturbing new report from The Washington Post:

Gorgon Stare is being tested now, and officials hope it will be fielded within two months. Each $17.5 million pod weighs 1,100 pounds and, because of its configuration, will not be mounted with weapons on Reaper aircraft, officials said. They envision it will have civilian applications, including securing borders and aiding in natural disasters. The Department of Homeland Security is exploring the technology's potential, an industry official said.

You are in danger from the United States of Surveillance. Stop it now, or suffer the consequences.

While the British and US Reaper and Predator drones are physically in Afghanistan and Iraq, control is via satellite from Nellis and Creech USAF base outside Las Vegas, Nevada. Ground crews launch drones from the conflict zone, then operation is handed over to controllers at video screens in specially designed trailers in the Nevada desert.

More about that here. If you see one, beware:

Joe Miller Concedes to Leesah Mercowsky on Friday

There's a long re-telling of the saga here.

Alaskans get to keep their nepotistic senatrix, and are saved from the unlikely and imperfect Miller, who hails from Yale and West Point but was supported by the Tea Party.

The election will be remembered for the way a judge roughed up the English language, so that "writing in a name on a ballot as it appears on the candidate's certification of candidacy" became "appearing to write in on a ballot the name of the candidate."

Poor Alaska. It only appears to be a state.

Friday, December 31, 2010

The Bubbles Caused by High Taxation

Brian Domitrovic for Forbes discusses how capital went on strike in the 1970s because of a clutch of onerous tax increases starting in 1969, and was diverted instead to a bunch of "inert stuff" like gold, oil and land, causing unemployment to rise: 

The rich spent the 1970s trying to figure out how to hide their money. ...

The 1970s were the first heyday of “alternative investments.” Gold, oil, land, straddles, these exotica had been the preserve of a small group of specialists before 1969, when high earners got hit with a triple tax increase. The top capital gains rate got upped to an effective 49%, there was an income-tax surcharge, and the millionaire’s minimum tax (the AMT monster of today) began. This is not to mention “bracket creep,” whereby real tax rates go up with every increase in the price level. For the record, inflation was 200% from 1969 to 1982.

In this environment, the rich simply stopped what they were doing and focused all attention on preserving capital and avoiding confiscatory rates. ...

Read the whole thing here.

Thursday, December 30, 2010

It Ain't No 'With Two You Get Eggroll' For The-Office-Milker-in-Chief

A trio of appetizers: Wong's seafood cake, a tomato with li hing mui dressing and Wong's famous "soup and sandwich," a two-color Big Island tomato soup and foie gras grilled cheese sandwich.

Lobster lasagna

Ginger-crusted onaga

The President's favorite entree, soy-braised shortribs.

And his favorite dessert, "The Coconut," coconut ice cream covered with dark chocolate, in a shape that looks exactly like half a coconut, served with a colorful array of tropical fruits.

As reported here.

WAPO Blogger Klein Thays Constitution Justht Too Old and Confusthing

Talk about lip thservice. Isth he done or what?! Here.

Wednesday, December 29, 2010

The "Right" To Healthcare is a Threat to Life and Liberty

Ross Kaminsky for The American Spectator here gets close to making a point which needs to be made more often, more forcefully, and more primary, namely, that one man's right to healthcare comes at the expense of another man's right not to provide it if he doesn't wish to:

[I]f health care is a right, that means that an American who for whatever reason does not have access to a doctor must be provided that access, whether that means redistributing taxpayer money to the would-be patient or even the potential of forcing a doctor to provide his services in an area "underserved" by health care professionals. ...

In other words, when one person's right is forcibly taken away for the benefit of someone else, it can no longer be a right any more than taxes extracted for the benefit of the poor may be deemed charity.

A doctor practices medicine by choice, not by compulsion, so we can no more force him to provide care than we can force people to become doctors. But, of course, if the courts decide that government can compel expenditure for health insurance, then it is a short distance to compelling other things, indeed anything, at which point this country is finished, if it isn't already.

Quibbling about how the inherent limitations accruing to conceptions of positive rights shows that they are not rights, such as that Obamacare under Berwick's rules will be provided as a right only

up to a certain age, a certain degree of sickness, or a certain cost,

has utilitarian value but is really beside the point.

A different contract governs the relations between a doctor and his patient, which Obamacare would overthrow, as full of negative pledges as the Bill of Rights is full of negative rights, the most famous of which people remember as "to do no harm."

The real offense of Obamacare is the compulsion at the heart of it, as real as the oppression of any tyranny.

What we need to stop it is a Hippocratic Revolt.

Tuesday, December 28, 2010

Debt by Congress

"After years of historic deficits, this 110th Congress will commit itself to a higher standard: Pay as you go, no new deficit spending. Our new America will provide unlimited opportunity for future generations, not burden them with mountains of debt."

-- Nancy Pelosi, Speaker of the House, 2007, 2008, 2009, 2010

111th Congress, 2009-2010, New debt = $3.22 trillion
110th Congress, 2007-2008, New debt = $1.96 trillion
Total new debt under Pelosi and Dems = $5.18 trillion

An increase of new debt of 134 percent over the historic deficits she was referring to, making hers, well, more historic:

109th Congress, 2005-2006, New debt = $1.05 trillion
108th Congress, 2003-2004, New debt = $1.16 trillion
Total new debt under Republicans        = $2.21 trillion

Proving once again that Republicans give less of the same, and Democrats more.

Full story here.


Sunday, December 26, 2010

On Patriotism

"Patriotism is now the last refuge of the bugger."

-- Imam John

Saturday, December 25, 2010

TSA Mops The Floor With Claire Hirschkind at Austin-Bergstrom Int'l Airport

"I can't go through because I have the equivalent of a pacemaker in me."

"I turned to the police officer and said, 'I have given no due cause to give up my constitutional rights.  You can wand me,'" and they said, 'No, you have to do this.'"

"I told them, 'No, I'm not going to have my breasts felt,' and she said, 'Yes, you are.'"

 "[T]he police actually pushed me to the floor, (and) handcuffed me.  I was crying by then.  They [dragged] me 25 yards across the floor in front of the whole security."

The TSA did release a statement Wednesday that said in part, "Our officers are trained to treat all passengers with dignity and respect. Security is not optional."

Complete story and video here. 

Friday, December 24, 2010

Preparing Our Hearts For Christmas, With George Washington and Thomas Paine

From Paine's December 23, 1776 The American Crisis, which Washington had read aloud to his troops as they prepared to attack Trenton on Christmas:

Not all the treasures of the world, so far as I believe, could have induced me to support an offensive war, for I think it murder; but if a thief breaks into my house, burns and destroys my property, and kills or threatens to kill me, or those that are in it, and to "bind me in all cases whatsoever" to his absolute will, am I to suffer it? What signifies it to me, whether he who does it is a king or a common man; my countryman or not my countryman; whether it be done by an individual villain, or an army of them? If we reason to the root of things we shall find no difference; neither can any just cause be assigned why we should punish in the one case and pardon in the other. Let them call me rebel and welcome, I feel no concern from it; but I should suffer the misery of devils, were I to make a whore of my soul by swearing allegiance to one whose character is that of a sottish, stupid, stubborn, worthless, brutish man. I conceive likewise a horrid idea in receiving mercy from a being, who at the last day shall be shrieking to the rocks and mountains to cover him, and fleeing with terror from the orphan, the widow, and the slain of America.


Enjoy it all, here.

Minyanville Founder and Dead-Head Asks The Stupid Question of the Year

"What's another word for thesaurus?" (Todd Harrison, here)

You'd think "treasury" would come to the mind of someone whose job it is to talk about money all the time, and preempt the question, but that would presuppose that Syracuse University required its honors graduates to know some Greek.

On Sin

"Sin is what everyone commits, but few admit."

-- Imam John

Thursday, December 23, 2010

Politico.com Fawns Over Senator Murcowskie (RINO-AK)

With photos no less, here.

Hell hath no fury like a woman scorned.

Which is why we should repeal the 19th Amendment.


TSA De-deputizes Pilot For Posting Video of Sacramento Security Theatre

The story, with video, is here.

Apparently the TSA is upset that you find out from this story that ground crews don't go through the invasive screening that you and flight crews have to endure. Ground crew members swipe a card reader and get access to your plane, by-passing metal detectors, naked scanners, and enhanced pat downs.

Do you feel safer?

Well, do ya, punk?