Monday, December 26, 2011
Saturday, December 24, 2011
No Bank Failures on the Friday Before Christmas
George Bailey, eat your heart out.
There were two failures a week and a day ago, which appear to be the last we're going to have in 2011.
#91 was Premier Community Bank of the Emerald Coast, Crestview, Florida, costing the FDIC $31.2 million.
#92 was Western National Bank, Phoenix, Arizona, costing the FDIC $37.6 million.
An unofficial list of problem banks here stands at 973 institutions with just under $398 billion in assets, not very different from last year at this time when it was 919 banks and $408 billion in assets.
Extend and pretend continues, which allows banks slowly to heal. But modern banking is rotten to the core nonetheless, just like everything else, in my humble opinion.
An unofficial list of problem banks here stands at 973 institutions with just under $398 billion in assets, not very different from last year at this time when it was 919 banks and $408 billion in assets.
Extend and pretend continues, which allows banks slowly to heal. But modern banking is rotten to the core nonetheless, just like everything else, in my humble opinion.
Friday, December 23, 2011
In Order For Third Parties To Rise, They Have To Have Representation
Third party candidacies for president fail in this country, as do those for representative or senator, because the two parties have a lock on the political process. The lock concentrates power and money in their hands, to the exclusion of the other interests which no longer have representation.
How did the two parties lock it?
Or to put it another way, how did Americans lose representation to the Republicans and Democrats?
The Republicans deliberately ignored the constitution's re-apportionment requirements after the 1920 Census, some say out of fear of competition from representatives of the massive number of then-new immigrants, and eventually prevailed in fixing representation at the arbitrary number of 435 in the US House through legislative fiat. There's absolutely nothing sacred about the number 435. It's just a number we reached when population required that number of congressmen after the 1910 Census.
Normally, the constitution's requirements have to be overcome by amendment, not legislation. But that's what we have, legislative fiat, because both parties found it in their best interests to concentrate power in themselves. The last thing they wanted to do was diffuse power to additional new players as the constitution requires. Since the constitution doesn't specify the upper limit of representation, only the minimum number and minimum proportion (Article 1, Section 1), a problem of first importance in the founding era but never resolved, they got away with it. But they shouldn't have. We're all the poorer for it.
Republicans in particular wear its stain. Today its Tea Party claims to wear the badge of constitutional originalism, but that badge is covering a huge blot of hypocrisy.
If Americans actually had the government the constitution requires but the Republicans of the '20s prevented, we'd have a US House today with 10,000 representatives, not 435.
There would most likely be a number of odd duck political parties represented in that sea of representation, like Greens, Communists, Fascists, Socialists and Constitutionalists. And probably a Gay Party from Saugaytuck, Michigan. But there might also be a rather substantial number of Conservatives and Independents. Considering that "conservative" is today's most identifiable political self-description, you can bet Republican golfers everywhere certainly don't want the competition.
But consider, for example, New York State. It has a Conservative Party, whose most famous public face is perhaps the radio host Sean Hannity. Another famous conservative from New York was the brother of William F. Buckley, Jr. US Senator Bernie Sanders of Vermont is a Socialist, from a state with next to no gun laws! Why not have more of their ilk as the people desire in the US House? Lots more.
Once there, the give and take of politics on a grander scale would most probably change the dynamics of the current politics of not-a-dime's-worth-of-difference between Republicans and Democrats. New actors would arise and give voice to ideas which in the past have had to settle for one congressman's endorsement here, or one there, only to be squelched by the Republicrat party apparatchiks.
More importantly, Republicans and Democrats would have to make alliances and share power in exchange for support. This would increase representation of ideas which today see the light of day in legislation only infrequently. And more importantly still, candidates for national office would have to forge alliances with such representatives too, which means third party candidates for president would actually begin to have some credibility with legislative support, without which a tax reformer like a Herman Cain, Ron Paul or Steve Forbes goes nowhere.
Think about it America!
Stop settling for representation without representation!
"One Representative For Every Thirty Thousand!"
Your Fascist Police State At Work: More Than 9,300 Unannounced Checkpoints Run in 2011
So says the story here.
And the LA Times here:
TSA teams are increasingly conducting searches and screenings at train stations, subways, ferry terminals and other mass transit locations around the country.
"We are not the Airport Security Administration," said Ray Dineen, the air marshal in charge of the TSA office in Charlotte. "We take that transportation part seriously." ...
In Tennessee in October, a viper team used radiation monitors and explosive-trace detectors to help state police inspect trucks at highway weigh stations throughout the state. Last month in Orlando, Fla., a team set up metal detectors at a Greyhound bus station and tested passengers' bags for explosive residue.
In the Carolinas this year, TSA teams have checked people at the gangplanks of cruise ships, the entrance to NASCAR races, and at ferry terminals taking tourists to the Outer Banks.
The instruments of fascism are slowly being introduced, and the American people accept it like sheep.
They deserve everything they're going to get.
George Orwell on the Meaninglessness of the Term 'Fascism'
"It would seem that, as used, the word 'Fascism' is almost entirely meaningless. In conversation, of course, it is used even more wildly than in print. I have heard it applied to farmers, shopkeepers, Social Credit, corporal punishment, fox-hunting, bull-fighting, the 1922 Committee, the 1941 Committee, Kipling, Gandhi, Chiang Kai-Shek, homosexuality, Priestley's broadcasts, youth hostels, astrology, women, dogs and I don't know what else."
The source of this statement attributed to Orwell is given as "Tribune, 1944" here. I haven't found a credible alternative citation proving Orwell wrote it.
In a leftist age, the promiscuous use of the term would be understandable.
In a leftist age, the promiscuous use of the term would be understandable.
Thursday, December 22, 2011
To Romney, Calling Obama a Socialist is the Same Thing as Calling Him a Momma's Boy
From an interview on FOX as transcribed here by The Washington Post:
O’Reilly: Is he a socialist?
Romney: You know, I prefer to use the term that he’s just over his head. ... I consider him a big-government liberal Democrat. I think as you look at his policies, you conclude that he thinks Europe got it right and we got it wrong. I think Europe got it wrong. I think Europe is not working in Europe. And I’ll battle him on that day in and day out. But I’m probably not going to be calling him names so much as calling him a failure.
The Economy is NOT Improving: 3rd Estimate of Real GDP Falls to 1.8 Percent from 2.0 for Q3 2011
What a joke the news is today. GDP is revised down and all you hear on the news is Ho! Ho! Ho!
Q2 GDP was 1.3 percent, and Q1 0.4 percent, for an average growth rate in 2011 so far of barely 1.0 percent.
Q2 GDP was 1.3 percent, and Q1 0.4 percent, for an average growth rate in 2011 so far of barely 1.0 percent.
One percent. From 1930 to 2000 growth averaged 3.5 percent a year. That's the normal America, and it isn't anywhere in sight and hasn't been in over a decade.
If the economy were improving truly, GDP would be much in excess of 2.5 percent, the minimum growth needed to accomodate just the natural growth of the population. The last time we had such growth ended a year ago September, spurious as it was, consisting primarily of parasitical spending by government. It wasn't even tax money the government spent. It was borrowed money. For all that, 2010 growth overall was merely 3.0 percent, in 2009 -3.5 percent, in 2008 -0.3 percent.
The personal savings rate since September 2010 has fallen 30 percent.
The ratio of the number employed to the size of the population has fallen back dramatically to levels last seen in the 1970s and early 1980s.
The growth in employment in the post-war period has stalled with the stall in GDP:
The growth in employment in the post-war period has stalled with the stall in GDP:
Household net worth has fallen 12 percent since 2006, 85 percent of that from the housing collapse.
Without jobs there is no growth in the savings which form the foundation of housing wealth. Without housing wealth there is no middle class which consumes the products whose aggregate value comprises 70 percent of GDP. And hence no advance in GDP.
A rich man can smoke only so many cigars, a Christopher Hitchens only so many Rothmans.
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FDR, The Enemy of Money, Devalued the Dollar Nearly 70 Percent Overnight
FDR in 1933 |
Executive Order 6102 |
From One Perverse Little Man To Another: Pres. Carter Consoles North Korea
Here's what North Korea said about Pres. Carter giving aid and comfort to the enemy again:
"In the message Jimmy Carter extended condolences to Kim Jong Un and the Korean people over the demise of leader Kim Jong Il. He wished Kim Jong Un every success as he assumes his new responsibility of leadership, looking forward to another visit to [North Korea] in the future."
Wednesday, December 21, 2011
Flashback to Dec. 24, 2009: Democrat US Senate Rams Through Healthcare in Rare Vote
Reid The Arrogant |
The 60-to-39 party-line vote, starting at 7:05 a.m. on the 25th straight day of debate on the legislation, brings Democrats closer to a goal they have pursued for decades and brings President Obama a step closer to success in his signature domestic initiative. When the roll was called, with Vice President Joseph R. Biden Jr. presiding, it was the first time the Senate had gathered for a vote on Christmas Eve since 1895.
Fast forward to today.
The US Senate is still controlled by Democrats, but it adjourned for the year on Saturday, Dec. 17, even though the Social Security Tax Cut measure it passed is different from the US House's bill and requires reconciliation before the tax cut can be take effect on January 1, 2012.
House Republicans have remained in Washington, willing to work on the measure, but Democrats have fled town.
Chevy Volt and East German Trabant, Compared
Militarized US Police Units Have Grown in Number by at Least 60 Percent Since 2000
From The Daily Beast (link):
The homeland security market for state and local agencies is projected to reach $19.2 billion by 2014, up from an estimated $15.8 billion in fiscal 2009, according to the Homeland Security Research Corp.
The rise of equipment purchases has paralleled an apparent increase in local SWAT teams, but reliable numbers are hard to come by. The National Tactical Officers Association, which provides training and develops SWAT standards, says it currently has about 1,650 team memberships, up from 1,026 in 2000.
Tuesday, December 20, 2011
Gasoline Consumption Down Every Week for Nine Months in 2011
We're having a little gas war in southeast Grand Rapids |
Annual records for gasoline prices are taking their toll on the American economy, consuming as much as 0.5 percent of annual GDP.
As such, it's an example of a tax which only hurts, averaging over 5 percent of the typical household budget in the past but over 8 percent now.
The AP has the story here:
For this year, gas should average $3.53 per gallon. That's 76 cents more than last year. It's 29 cents per gallon more than 2008, when gas last set an annual record, $3.24. ... Compared with the year before, American gas consumption has been down every week for more than nine months, according to MasterCard SpendingPulse, a spending survey.
Or Else Tyranny Wins
From Aaron MacLean here:
If one wanted to be unkind to Hitchens, a claim could be made that, as a natural belligerent and contrarian, he was in the end drawn naturally to soldiers, whose aggressiveness and courage he admired. Less generous formulations of this argument can be encountered among his critics, but all versions of it are essentially false. It wasn’t so much the fighting which was the point, as the fact that there was so much for a free man—if he wanted to deserve the name—to fight against. If -others were unwilling to challenge the slavemasters of the world; well, then, as with Orwell before him, the willing slaves could come in for some rough treatment, too.
I remember that at our first meeting, a lunch in Dupont Circle shared while I was still a student, an old man came over to our table and hoarsely exclaimed the motto of the Greek Cypriot struggle: “eleftheria i thanatos”—freedom or death. (It isn’t every day . . . ) In the end, Hitchens went to war with death itself. Not just by means of his treatment—a delaying action which was destined to fail in the end—but, characteristically, by going to war in print with the sentimentality and dishonest fluff that attaches to the fact of death. Practicing his craft in a condition in which most of us would be content merely to continue breathing, he went on shattering icons and offending pieties even from his hospital room: a free man, telling the truth about one final tyrant.
Religion exists because some men are unwilling to bow even in death.
Labels:
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Monday, December 19, 2011
Props to Erick Erickson: Republicans Are Insane
It's not a long post, but a good one:
The Republican Party has gone insane.
For the better part of the last three years the Republican Party has exercised itself into a frenzy over the need to repeal Obamacare. For the two years leading up to November of 2010, mostly middle aged working white people took to the streets in sizes rivaling a NASCAR race to protest the socialization of the American health care system.
The individual mandate and TARP draw the ire of scores of primary voters.
And our two front runners for President? They both support an individual mandate and they both supported TARP.
Not only that, just last year Mitt Romney was saying he’d keep parts of Obamacare. Like supporting amnesty, he has changed his position just in time for an election cycle.
Are we really going to do this?
I just want everyone to make sure they understand this and remind them that Perry, Bachmann, Huntsman, and yes, even Rick Santorum are still in the race.
A movement that doesn't understand what's happened to itself and can't come up with a candidate deserves everything it's going to get . . . in spades.
A movement that doesn't understand what's happened to itself and can't come up with a candidate deserves everything it's going to get . . . in spades.
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