Monday, February 23, 2015

Great Lakes Ice Cover is 25% ahead of this time last year: a warning for GDP?

Last year on this date the total ice cover was just 67%, when GDP was going negative supposedly because of the terrible winter we were having. The year before, ice cover on this date was 74.3%. As of yesterday, ice covers 84.4% of the Great Lakes, 25% ahead of last year.

Will GDP tank in 1Q2015 because of this?

We won't have what passes for complete knowledge about this until the end of June.

Data here.

If Obama can say Edward Snowden and George Bush aren't patriots, then Rudy Giuliani can say whatever he wants about Obama

Obama called Snowden unpatriotic in August 2013
Obama called Bush unpatriotic July 3, 2008

Sunday, February 22, 2015

WaPo worries about Jeb's wife's spending of personal money, totally ignores Michelle Obama's marathon milking of the taxpayers

It took a FOIA request of the most transparent government ever to find out that Moochelle Obama milked the taxpayers for a $250,000 vacation in Ireland in 2013, but the Washington Post is all abuzz tonight over Jeb Bush's wife's personal spending on jewelry.

Keith Koffler reported here in April 2014 about Moochelle:

"First Lady Michelle Obama’s egregious use of the G-8 Summit in Northern Ireland last June to stage a luxury, touristy side-trip for herself and her daughters to Dublin cost taxpayers at least $251,161 according to documents obtained by Judicial Watch.

"But the cost is almost certainly much higher. For example, a separate Air Force jet that appeared to be Air Force Two, which costs more than $10,000 an hour to fly, was dispatched to Ireland to handle Michelle’s vacation-related travel. This cost is not included in the figures provided to Judicial Watch."

But WaPo's story, "Documents show the expensive tastes of Jeb Bush’s low-key wife", here, only has this to stay about the extravagant and unethical spending of President Obama's wife:

"First lady Michelle Obama drew fire for wearing a pair of sneakers that cost upward of $500 when she went to bag groceries at a food bank in 2009."

Senate Democrats to mount fourth filibuster to block funding of Dept. of Homeland Security before it runs out of money

Here's the lede from Politico:

Late Monday afternoon, Senate Majority Leader Mitch McConnell will force the fourth vote in three weeks on a bill to fund the massive agency that protects Americans from terrorists, floods and incursions across the borders. Senate Democrats will almost certainly block it again.

Saturday, February 21, 2015

Former NY Mayor Rudy Giuliani tells it like it is about Obama the commie

Quoted here:

“I know this is a horrible thing to say, but I do not believe that this President loves America. He doesn’t love you. He doesn’t love me. He wasn’t brought up the way you were brought up and I was brought up: To love this country."

“Look, this man was brought up basically in a white family, so whatever he learned or didn’t learn, I attribute this more to the influence of communism and socialism. I don’t (see) this President as being particularly a product of African-American society or something like that. He isn’t. Logically, think about his background. . . The ideas that are troubling me and are leading to this come from communists with whom he associated when he was 9 years old."


Germany blinks: Greeks win time, funding and an end to previous austerity agreements

Reported here:

Mr Tsipras added the extension would finally put an end to the "asphyxiation" Greece has suffered since 2012.

"Yesterday's agreement with the Eurogroup cancels the commitments of the previous government for cuts to wages and pensions, for firings in the public sector, for VAT rises on food, medicine," added the prime minister.

"We averted plans by blind conservative powers, within and outside the country, to asphyxiate Greece on February 28," he said.

Thursday, February 19, 2015

More jobs for ISIS!

Sausage stuffer operator!
Pig roast supervisor!
Pig castrator!

Ann Coulter: It looks like Republicans are throwing the fight on illegal alien amnesty

Seen here:

"It's hard to avoid concluding that Republicans aren't trying to make the right arguments. In fact, it kind of looks like they're intentionally throwing the fight on amnesty. If a Republican majority in both houses of Congress can't stop Obama from issuing illegal immigrants Social Security cards and years of back welfare payments, there is no reason to vote Republican ever again." 


Note to Ann: "intentionally" is redundant when throwing a fight.

I knew there was a reason I never much liked Newsmax

Seen here:

"Newsmax, a conservative news organization, last year pledged $1 million to the Clinton Foundation over a five-year period, according to a spokesman for Chris Ruddy, the organization’s CEO. Mr. Ruddy has been friends with the Clintons since 2007," reports the [The Wall Street] Journal.

Wednesday, February 18, 2015

Three jobs for ISIS, courtesy of the US State Department

hog farmer!
hog processor!
sausage chef!

Tuesday, February 17, 2015

Record low to date in 2015 in Grand Rapids, MI is minus 13 degrees F


Libertarian John Tamny displays the anti-intellectualism characteristic of the breed

Here in "The Beatles And Wealth Inequality: A Reminder That Education Is Irrelevant To Success".

It's a veritable cornucopia of wrong, sentimental tosh in pursuit of a thesis.

It ignores the fact that George Harrison went to a pretty good school in Liverpool. It doesn't understand that Ringo was prevented from making academic progress as a child by recurring severe illnesses. It is unaware that Ringo actually was punching a time clock at a day job when he became interested in the drums, and that though it was his life's work he didn't play when the band wasn't recording.

Tamny also makes a mountain out of the molehill of Ringo Starr's two-week hiatus from the Beatles in 1968, which supposedly showed the rest of the Beatles how much they needed him. They didn't. Ringo spent much of his time in studio playing cards while the others whacked out their tracks as the group headed for a breakup.

Tamny would have made a better case using Rush Limbaugh as his example. The man's made piles and piles of dough but routinely slaughters math, attacks college education and has a lazy mind.


Judge appointed by George W. Bush blocks Obama's deportation gambit

From the story here:

A federal judge in South Texas on Monday temporarily blocked President Barack Obama's executive action on immigration, giving a coalition of 26 states time to pursue a lawsuit that aims to permanently stop the orders.

U.S. District Judge Andrew Hanen's decision comes after a hearing in Brownsville in January and puts on hold Obama's orders that could spare as many as five million people who are in the U.S. illegally from deportation.

Hanen wrote in a memorandum accompanying his order that the lawsuit should go forward and that without a preliminary injunction the states will "suffer irreparable harm in this case."

"The genie would be impossible to put back into the bottle," he wrote, adding that he agreed with the plaintiffs' argument that legalizing the presence of millions of people is a "virtually irreversible" action. ...

Hanen, who's been on the federal court since 2002 after being nominated by President George W. Bush, regularly handles border cases but wasn't known for being outspoken on immigration until a 2013 case. In an order in that case, Hanen suggested the Homeland Security Department should be arresting parents living in the U.S. illegally who induce their children to cross the border illegally.

Sunday, February 15, 2015

Gretchen Morgenson smells a rat: Fannie/Freddie bailout cost us nearly $188 billion, but Treasury rakes in the profits

Gretchen Morgenson for The New York Times, here:

For decades, the companies had maintained that their mortgage operations posed no risk to taxpayers; their pals in Congress echoed this refrain. But then came the mortgage debacle, and taxpayers had to shore up the companies with $187.5 billion. Initially, Fannie and Freddie had to pay interest on the loan. But in August 2012, the Treasury and F.H.F.A. abruptly changed the agreement; under the so-called third amendment, the government began sweeping all the companies’ profits into the Treasury. Since then, Fannie and Freddie have been immensely profitable. As of last December, the Treasury had received a total of $225.4 billion from the companies. ... 

The initial $187.5 billion loan remains outstanding, however, because of the deal’s structure. ...

But recall what was going on in mid-2012. The presidential election was in full swing, and Democrats and Republicans were clashing over the debt ceiling. That May, in a shock to many, Fannie and Freddie reported profits from their operations for the first time since the mortgage crisis. The amount: $4.5 billion. And plenty more was to come. Certainly, giving the Treasury access to billions of dollars in the companies’ profits during this time provided financial flexibility to the executive branch that Congress might not otherwise have approved.




Saturday, February 14, 2015

Rate of citizenship renunciation soars from 700 a year under Bush to 2300 a year under Obama

CNN Money reports here that the number of people turning in their US passports for the four years 2011-2014 totals 9129, which is a rate of 2282 per year.

Starting under George Bush in fiscal 2005 through fiscal 2010 a total of 4000 said goodbye to US citizenship, a rate of 667 per year.

Friday, February 13, 2015

Howard Dean thinks a president must have a college degree, unless the president is a Democrat

Yeaaaaaaahhhhhh!
Seen here:

SCARBOROUGH: Are you serious? You're saying [Scott Walker] might not be qualified because he didn't finish college?

DEAN: I think there are going to be a lot of people who worry about that. 

SCARBOROUGH: Do you worry about people that don't finish college? 

DEAN: I worry about people being President of the United States not knowing much about the world and not knowing much about science. I worry about that. 

SCARBOROUGH: Oh my God. Let's name the people that didn't finish college that have changed this world. 


DEAN: Harry Truman, who was a great president, there's no question about it.


Thursday, February 12, 2015

NBC is so incompetent it can't report accurately how old its own reporter was when he died

The audio, the chyron and the caption say he was 56, but the headline and the lede both say he was 58.

Conservatism, tortured

Just one more for the record, showing that National Review is now sadly many more bricks short of a load than it used to be, here:

"Paradoxical though it may sound, blasphemous or offensive speech is a God-given right."












h/t chroniclesmagazine.org 

Brian Williams of NBC garnered just 18 college credits from THREE colleges and universities

But all you're going to hear about is how Gov. Scott Walker of Wisconsin never finished at Marquette, where he still needs 34 credits to graduate.

WaPo is already on the warpath, here, saying Walker "was not close to graduating", under the headline "questions linger over college exit".

Hm. When it comes to Brian Williams, I'd say questions linger over his (many) college entrance(s). Whereas Walker is "about one-quarter of the required total away from earning his degree", Brian Williams is more than three-quarters of the required total away, having attended a community college, Catholic University of America, and George Washington but accumulating only 18 college credits.

Williams is not even in the same class of serial matriculators as Sarah Palin because she actually finished her degree after six whacks at it, but Williams still got to quote an NBC poll to her face in October 2008 in which 55% of Americans supposedly didn't see Palin as qualified to be president because the fourth estate doesn't really care about qualifications, just about who it is who doesn't have them.

Well, 33% of Americans today have now developed an unfavorable view of Williams in the wake of the revelation of the history of his many fabrications, according to Rasmussen here:

"Thirty-three percent (33%) view him unfavorably, with 18% who hold a Very Unfavorable view."

They are a little late, but we'll take it.


Tuesday, February 10, 2015

Crusades used to be viewed positively in America
























h/t Patrick J. Buchanan

CNBC libertarian says Ron Paul taints the movement with anarchism

Jake Novak goes off the reservation, here:

With his recent call against vaccination laws of any kind, Ron Paul, a former Republican congressman and Libertarian presidential candidate, undermines the cause just as much [as statists] by acting like an anarchist.

Congressman Paul also borrows another aggravating rhetorical weapon overused by statists against libertarians, when he wrote: "Giving the government the power to override parental decisions regarding vaccines will inevitably lead to further restrictions on liberties." ...

This anti-vaccine law stance is just another all-or-nothing mispackaging of libertarianism.

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That no two libertarians can agree about much of anything is proof of the anarchism inherent in the thinking.


Peter Thiel isn't serious about giving up on competition


Anyone who is homosexual who claims to be both a Christian and a conservative is nothing if not competitive . . . for attention.

Monday, February 9, 2015

Conservatives are prisoners of the '3 million Republicans stayed home in 2012' meme

The meme began with Jeffrey Lord at The American Spectator, here, whose real motive was to beat up the party for nominating another moderate:

"On Tuesday night, it comes clear, as this is written using the latest Fox News figures, Mitt Romney lost to President Obama by 2,819,339 votes. And the news ekes out that Moderate Nominee Number 10 Romney received some 3 million Republican votes less than Moderate Nominee Number 9 -- John McCain in 2008."


Blurted out as it was on November 8, 2012, no one could possibly have known that to be true at the time or trust it, but it has been accepted and remains endlessly repeated as the truth, mostly by the likes of Rush Limbaugh who uses it to browbeat his audience whenever someone spills some lemonade on the still open wound of the Romney defeat. The Republican base was at fault for not showing up, we are told, and Rush is never going to let you forget it. He's as angry at the right as John McCain is, but the meme just reverberates down through the conservative food chain through every microphone until you just want to scream out loud because it simply isn't true.


This is demoralizing for everyone and needed to stop long ago. But why it hasn't stopped has more to do with conservatives' penchant for self-flagellation for their failure to find a new Reagan than with anything else. What they should be doing is trying to learn something from the episode so that they do win next time, but you get the feeling that they don't do that because they really don't believe that they can win next time. Republicans want a Saviour to do the job for them, instead of doing it themselves.

I know why this is, and so do you.

Conservatives have become prisoners of a utopian dream. They keep thinking that if the right guy or gal comes along in the mold of the Gipper, we'll finally, finally, be able to take over the government and show everybody how it's supposed to be done once again, and all will be right with the world.

This is crazy.

The fact is there were just eight states lost by Romney to Obama in 2012 where McCain did better. Here they are, showing how many more votes McCain got than Romney:

Ohio: 16,383
New Mexico: 11,044
California: 171,823
New Jersey: 134,458
New York: 262,275
Maine: 2,997
Vermont: 6,276
Rhode Island: 8,187

Total votes by which McCain did better than Romney, but still lost: 613,443 . . . nowhere near 3 million.

Keep in mind that Romney garnered a net 984,084 more votes nationwide than McCain did in 2008, despite that under-performance in eight states detailed above, and despite what Jeffrey Lord told you in the wake of the election and people like Rush Limbaugh have endlessly repeated ever since. On top of that net better performance, Romney also won North Carolina and Indiana, both of which McCain had lost in bitterly narrow outcomes in 2008. Romney ended up winning 24 states vs. only 22 for McCain. You don't do that with 3 million Republicans staying home in 2012 who didn't in 2008.

To think so now at this late date is a form of mental illness.

Romney's better performance than McCain overall was despite two important factors working against Romney: a lower turnout nationwide in 2012 by 1.6% overall compared to 2008 (2.2 million); and a suppressed voter turnout in New Jersey and New York because of Hurricane Sandy right before the election, which makes McCain's better performance than Romney in those two liberal states in 2008 look questionable, quite apart from being inconsequential.

In New Jersey and New York in 2012 5.9% and 7.3% fewer votes respectively were cast than in 2008, alone totaling a whopping 789,000 votes. Based on Romney's performance in those two states in 2012, as many as 288,000 of those votes could have been his but were not, due to weather related impacts on the election. But they hardly mattered except to show that McCain's so-called out-performance was nothing of the kind.

The only state of the above eight which really mattered for Romney in the 2012 calculus to win was Ohio, where Romney lost by 2.98 points, or 166,272 votes.

Turnout in Ohio was also down in 2012, by 2.3% or 131,000, a rate of no-showing almost 44% higher than in the country as a whole (Just where was Gov. John Kasich when we needed him, hm?). With third party voting in Ohio turning out the same percentage in 2012 as it had in 2008, you have to reckon with the fact that Ohio's 101,788 third party votes in 2012 had a greater impact on the outcome in the lower turnout environment of 2012, and they did.

49,493 of those third party votes in Ohio went to the self-described Republican spoiler from the Libertarian Party, the Republican Governor Gary Johnson of New Mexico, who was just coming off being snubbed by the Republican Party in the presidential debates of late 2011. Another 33,722 votes in Ohio went to assorted libertarian and right of center fruits, nuts and flakes. Then add in the known 16,383 who voted for McCain in 2008 but not for Romney in 2012 and you're up to 99,598 of the 166,272 Romney lost by in Ohio in 2012. That leaves 66,674 additional votes Romney lost to account for, which as luck would have it is about 51% of the total reduced turnout, closely enough mirroring the 47.6% by which Romney ended up losing in Ohio to satisfy the equation's solution. The point is there was nothing terribly unusual about this outcome which couldn't have been remedied by a better boots on the ground operation than Romney fielded, outnumbered as it was by Obama by 10 to 1. Romney's failure in Ohio was remediable.

One gets the feeling from that that Romney too was looking for a Saviour when he should have been working harder. Only after the election was it confirmed by his family that he really didn't have the fire in the belly. We should have known. "ObamaCare's not worth getting angry about". "I'm not going to light my hair on fire".

Ohio, plus New Hampshire, Virginia and Florida in the east together would have given Romney the 270 electoral votes he needed instead of the 206 he actually received. Romney lost those four states, and the presidency, by just 429,522 votes.

Not.3.million.

Sunday, February 8, 2015

Scientists are very smart, and you simply aren’t qualified to disagree with them

Seen here.

Like flies on manure, the libertarians swarm to any story about Ayn Rand

CNBC.com has a story up celebrating the 110th birthday of Ayn Rand, here (I don't recall seeing one for Ronald Reagan this week, whose 104th it was), entitled "Ayn Rand is 110 and still in your face after all these years".

Well, she wouldn't be in your face this week if it weren't for CNBC. And I swear the Randians use Google Alerts to swarm the comments section for any story that pops up about their heroine. CNBC even egged them on with an online poll embedded in the article.

Those of us old enough to have voted for the Gipper remember the critical verdict against Ayn Rand from the likes of Reagan's intellectual compatriots William F. Buckley Jr. and Whittaker Chambers, and against libertarians generally from people like Russell Kirk, all of whom insisted that man does not exist for his own sake, implying a transcendent, as opposed to a purely immanent, moral order. It was that precisely ideological character of Objectivism, that theological mistake, which made it but the other side of the totalitarian coin which Ayn Rand still carried in her pocket from the USSR, and which American conservatives instinctively rejected.


Saturday, February 7, 2015

If I had a subscription to the NYTimes, I'd cancel it just for how David Brooks defended Obama's equation of Christianity and ISIS

David Brooks' defense of Obama is here.

Obama plays New York intellectuals like a fiddle.

Like Mitt Romney, Hillary Clinton has had her shot at the presidency and failed, so why isn't she out, too?

Hm?

Robert F. Kennedy Jr. is a distinguished "dog" environmentalist

The NY Post reported here May 17, 2012 on occasion of the suicide of Robert F. Kennedy Jr.'s wife Mary, also an environmentalist:

Mary’s close friend pointed to the strain of her 18-year marriage. “She was lovely. She always looked out for you,” she said, but added, “She did not have it easy, being Bobby’s wife. “I remember being seated at a dinner next to Bobby around 10 years ago that [Mary] was also at — it was the first time I had met either of them — and he put his hand on my thigh under the table. We hadn’t even spoken but to say hello. He is such a dog that way.” ... [T]he philandering took “a terrible toll,” the source said, adding, “He got all the glory, and she got no acknowledgment for what she did: holding it all together at home.”

Friday, February 6, 2015

Jon Stewart doesn't realize that Governor Bupkis is from Wisconsin, not New Jersey


He'll rip your government unions a new one if you don't watch out, Jon.

The eviscerated New Republic defends Obama's indefensible prayer breakfast remarks equating Christians with ISIS


The commenters are all over the affirmative action president like white on rice, if that's possible in this instance.

Talk about kicking a dog when he's down . . . for the Muslim cause.

And you thought America was lost.

Courage!

Missing the Gipper, who would have been 104 today

I'm proud to say I voted for him twice, when I was 24 and again when I was 28.

Communism abroad was our enemy then. Little did we imagine it would grow root and branch here, and invade the very White House.

The man would be appalled at what we've let happen to America.

Thursday, February 5, 2015

King Abdullah of Jordan for President of the United States

Might as well have a real moderate Muslim as president instead of the one we've got. You know, someone who names the enemy and wants to take it to the enemy instead of lecturing Christians that they are sinners too, confusing people about whose side he's really on.

"Any man I see out there, I'm gonna kill him. Any son of a bitch takes a shot at me, I'm not only going to kill him, I'm going to kill his wife and all his friends and burn his damn house down."

Story here from Byron York.

Just add nausea when ad nauseam isn't enough

Seen here.

Surprise: Lefty Michael Tomasky wants to punish the middle class with an increase in the regressive gasoline tax

Here in "Pony Up, Middle Class, for a Gas Tax", recommending Hillary do it in 2017 like her husband did with income taxes in 1993, by lying about it:

"And the rich, even though they’re rich, only have so much to contribute. The top marginal tax rate just isn’t going to get much higher, and the corporate tax rate if anything should be lowered (although as loopholes are simultaneously closed). So you’re going to have to pay a little.

"I wouldn’t necessarily recommend this for a campaign. But let us not forget that the husband of the putative Democratic nominee in 2016 got into office in 1993 and promptly raised taxes, and fairly substantially, on just about everybody."


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Of course, Tomasky doesn't mention Bill Clinton specifically promising in October 1992 NOT TO RAISE TAXES on the middle class, period.

Americans were forced in the aftermath of those tax increases to plunder home equity to maintain their standard of living. Owners' equity as a percentage of the value of household real estate subsequently plunged from 60.88% when Clinton was elected to 57.43% in the autumn of 1997 even as those housing values began to soar in the gestating housing bubble. We won't digress about how Clinton then threw gasoline on the housing fire in the Taxpayer Relief Act of 1997 just as the percentage of owners' equity had hit that new low.

What's noteworthy is how enthusiastic the left is to punish the middle class, now as then. They haven't changed a wit, and neither have their methods. Everyone is paying higher taxes now in the form of healthcare premiums (hello HillaryCare), and if they get their way they'll raise federal gasoline taxes, too.

Of all the taxes which hurt working and middle class people more it's gasoline taxes, euphemistically referred to as user taxes by libertarians. The current federal gasoline tax of 18.4 cents per gallon generates about $131 of federal revenue for every vehicle driven 15,000 miles annually getting 21mpg. While that's hardly noticeable to your person making $50,000 per year, a mere quarter percentage point, it's like adding almost one percentage point to the taxes of a minimum wage earner making $15,000.

The problem is then greatly magnified by the states, which add on another 29.89 cents per gallon on average, also in the name of transportation funding. Suddenly your 1% tax on the poorest drivers becomes a 2.3% tax.

Any addition at the federal level will only exacerbate this regressiveness. It's not that liberals don't know any of this. They do. It's just that they don't care.

Everyone benefits from roads, not just the users. Everyone should pay for them.

Wednesday, February 4, 2015

Every Republican for president sucks on immigration, except for Romney

Ann Coulter gets reinstated here, for this, clearly delineating the new fault line for 2016, with Mitt Romney the only one on the right side of the issue:

The only Republican who has ever opposed the media and big campaign donors on immigration was Mitt Romney. You know, the guy we just kicked to the curb. On immigration, the elites speak with one voice: The donors want cheap labor, and the media hate Republicans who push ideas that are wildly popular with voters. ...

But with the cheap-labor plutocrats up in arms during the 2012 presidential campaign over Romney's suggestion that their serfs "self-deport," all the Republican lickspittles rushed to denounce his untoward remark. Rand Paul, Ted Cruz, Scott Walker -- all of them lined up to take Sheldon Adelson's loyalty oath, swearing that, as far as they were concerned, illegal aliens should be treated as honored guests. 


Hey Jeb Bush! Let's repopulate Detroit with Greeks, and persecuted Middle Eastern Christians!

Story here.

Michael Lind is right: American progressives should thank libertarians for hijacking American conservatism

From a perceptive (because he agrees with me) obituary for economic conservatism in Salon, here, by ex-neocon Michael Lind:

In today’s debate about the economy, populist liberals, centrist neoliberals and libertarians are represented. One group is missing from the American economic debate: economic conservatives.

The economists and economic pundits who are usually described as “conservatives” in the U.S. are really libertarians, or, if they are more moderate, right-neoliberals. While genuine conservatives are anti-utopian in temperament, most right-wing economists in the U.S. [today] share the utopian belief that many if not most public services and publicly regulated utilities can be replaced with competitive private markets. ...

The once-influential conservative historian Russell Kirk dismissed libertarians as “chirping sectaries” and declared that any genuine conservative would sooner be a socialist than a libertarian. From Kirk’s Burkean conservative perspective, libertarians or classical liberals were crazed, hyper-rationalist, utopian radicals, like Marxists.

Tuesday, February 3, 2015

Liberal Salon and libertarian Rand Paul both show their true colors: a shushing they will go

The episode, summarized here, shows the true colors of the politically related liberals and libertarians. Silencing speech is what they are both about, all the while claiming to champion it. Accordingly both resort to the ad hominem: Rand Paul is a "brat" to Salon while he says liberals typically need to "calm down", implying emotional inferiority.

I wonder if Joan Walsh protested being used in this way. And I do mean used: She never once suggests Rand Paul should be shushed, but the headline writer at Salon sure did the dirty work for her. Don't kid yourself. She was OK wit dat.

Standard and Poors admits no guilt in the financial crisis, but pays $1.375 billion

From the story here:

On Tuesday, Standard & Poor’s (S&P), agreed to pay $1.375 billion to settle claims by the Department of Justice and multiple state governments that the ratings agency defrauded investors in the lead up to the financial crisis.

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Theoretically Standard and Poors made about $7 billion during the period in question, so the claw-back is theoretically 20%.

There are plea bargains, and then there are plea bargains.

Romney beat McCain, but not in the mind of Donald Trump

2012
2008
Trump said just now on the Laura Ingraham show that Romney got fewer votes than McCain.


See how a falsehood repeated endlessly by Rush Limbaugh becomes the truth?

Roger Kimball doesn't believe in freedom of speech anymore than anyone else

Here, in The New Criterion:

'As for the herds of “Je Suis Charlie” marchers in Paris and elsewhere, it is worth noting how very few actual “Charlies” there were. It is one thing to carry a placard. It is another to take a stand by, for example, publishing a caricature of Mohammed.'

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You see, by Roger Kimball's standard, unless I myself engage in a certain form of speech of which he approves, nay requires, I am an enemy of the West and all it stands for. It's not enough that I subscribe to the principle that one has a right to say or publish anything. Unless I actively read it and publish it myself I am not worthy. Kimball's world has no room in it for people who censor themselves out of religious and moral principle, who believe that without such principles there can be no civilization to begin with. Instead I must become a pornographer, I must become a blasphemer, I must join The Party.

Totalitarian ideology never looked so familiar.

Monday, February 2, 2015

I still haven't heard a single Tea Partier demand representation at 1:15,000, let alone 1:30,000

Which their holy, sacred Constitution alternately forbids and enjoins in Article I., Section 2:

"The number of Representatives shall not exceed one for every thirty thousand . . .."

Stephen Moore tells some whoppers: Income was FALLING long before the 2013 increase in the capital gains tax rate

From Stephen Moore of the Heritage Foundation, here:

"When Mr. Obama entered office the capital gains and dividend tax was 15 percent. Then he raised it to 20 percent and then he added a 3.8 percent investment surtax, bringing the rate to 23.8 percent. The tax rose by more than 50 percent. ...

"Wages have stagnated under Mr. Obama as taxes have risen on capital."

--------------------------------------------------------------------------------------------

Nice try at hiding the chronology, Moore, but no cigar.

Real median household income and real gross private domestic investment crashed in tandem and in concert with the 2007 recession. The investment side rebounded quickly, but real household income did not, and still hasn't. What's more, the whole phenomenon preceded any increase in the capital gains tax rate, which didn't pass until January 2013, with Republican support by the way. 

And it won't do to talk about wages stagnating, either. Real incomes have actually fallen, and fallen big. Employers figured out that the 2008 crisis gave them the cover they needed, their golden opportunity, to shed millions of expensive workers and rehire younger, cheaper ones. It's the biggest scandal in recent history, much bigger than the lies about ObamaCare, but no one is going to talk about it, least of all libertarians who are happy that the business inputs cost less.

The incredible rebound in investment is on the backs of all this labor shed in the crisis, helped along by rock bottom interest rates for those who are first in line for the money: bankers and businesses.

So-called conservatism never looked so bad.  

The housing bubble was mainly a middle class and higher phenomenon, not of the poor

From Robert Samuelson, here:

". . . in poorer neighborhoods . . . the actual borrowers . . . were much richer than average residents. In 2002, home buyers in these poor neighborhoods had average incomes of $63,000, double the neighborhoods' average of $31,000. ...

"In 2002, the mortgage-debt-to-income ratio of the poorest borrowers was 2; in 2006, it was still 2. ... 

"[T]he bulk of mortgage lending and losses [during the housing bubble] - measured by dollar volume - occurred among middle-class and high-income borrowers. In 2006, the wealthiest 40 percent of borrowers represented 55 percent of new loans and nearly 60 percent of delinquencies (defined as payments at least 90 days overdue) in the next three years."

Sunday, February 1, 2015

Grand Rapids, Michigan, starts 2015 with a January temperature anomaly of -3.2 degrees F

And 23.2 inches of snow after December's paltry 0.3 inches and November's deluge of 31.0 inches.

Here we go again.

It speaks volumes about our society that Rush Limbaugh has never been able to count in Roman numerals

Under his "Pearls of Wisdom" no less, here, last week:

"Is this Super Bowl XLIX? Super Bowl XLIX. I've lost track of the ability to count the Roman numerals. Not that I ever did know."

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Maybe he'll finally figure it out next year at "Super Bowl L".

Oops, sorry. The NFL is giving up the Roman numeral counting system for Super Bowl 50, according to Wikipedia, here:

"Instead of naming it Super Bowl L with Roman numerals like in previous Super Bowls, this game will be marketed with the Arabic numeral '50'. The game is scheduled to be played on February 7, 2016, at Levi's Stadium in Santa Clara, California, the home stadium of the San Francisco 49ers. This will be the first Super Bowl held in the San Francisco Bay Area since Super Bowl XIX in January 1985."

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I guess you'll still need to know the Roman numeral system to count Super Bowl XIX.

Surely The Apocalypse is nigh.






















But to me it will still be "Super Bowl L", not to be confused with the official name of the trains of the Chicago Transit Authority:



















Only in the United States of Moronica.

Saturday, January 31, 2015

Kevin Drum admits ObamaCare is a cost to the middle class, not a benefit

Here in Mother Jones last November:

[N]early all [ObamaCare's] benefits flow to the poor. ... winners are those with household incomes below $25,000 or so, and losers are those with incomes above $25,000. ... If you think of Obamacare as something that benefits the working and middle classes, you're probably wrong. It may benefit a few of them, but overall it's a cost to them ... the bottom line is simple: like most of the social welfare programs championed by Democrats, Obamacare is primarily aimed at the poor. Once again, the working and middle classes are left on the outside looking in.







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First Obama did nothing about housing, the sine qua non of the middle class: Over five million completed foreclosures eliminated millions from the middle class without firing a shot.

Then he did nothing about jobs, without which no one buys a house: 18 million have been added to the potential workforce but haven't actually joined it.

Then he rammed through healthcare reform, which was designed to raise costs on the middle class.

And people wonder how Obama could even think of taxing their 529 plans?

The middle class is the enemy of the revolution, the object of the transformation, the source for the redistribution.

Friday, January 30, 2015

So, Libya was really Hillary's war, and more broadly the women's war, not Obama's

From the first part of an investigative report, here, which details that there were secret recordings between Gaddafi's son and none other than Rep. Dennis Kucinich, now out of office:

Mr. Kucinich, who challenged Mrs. Clinton and Barack Obama for the 2008 Democratic presidential nomination, acknowledged that he undertook his own conversations with the Gadhafi regime. He said he feared Mrs. Clinton was using emotion to sell a war against Libya that wasn’t warranted, and he wanted to get all the information he could to share with his congressional colleagues. ...

Numerous U.S. officials interviewed by The Times confirmed that Mrs. Clinton, and not Mr. Obama, led the charge to use NATO military force to unseat Gadhafi as Libya’s leader and that she repeatedly dismissed the warnings offered by career military and intelligence officials. 

In the recovered recordings, a U.S. intelligence liaison working for the Pentagon told a Gadhafi aide that Mr. Obama privately informed members of Congress that Libya “is all Secretary Clinton’s matter” and that the nation’s highest-ranking generals were concerned that the president was being misinformed. ...

Instead of relying on the Defense Department or the intelligence community for analysis, officials told The Times, the White House trusted Mrs. Clinton’s charge, which was then supported by Ambassador to the United Nations Susan E. Rice and National Security Council member Samantha Power, as reason enough for war.

Dang, Romney says he won't run

Now who will stop Jeb?

Thursday, January 29, 2015

Secretary of State John Kerry who served in Vietnam fined $50 for not shoveling snow at his Boston residence

Story here:

Boston city officials issued a ticket to Kerry’s home for neglecting to shovel his sidewalk on Thursday, according to Citizens Connect, a website run by the city of Boston where residents can upload complaints.

John Kerry, who served in Vietnam, has also been rumored in the past to avoid stopping at four way stop signs in his Jeep, and to avoid paying taxes on his yacht domicile.

One law for me, another for thee. 

Wednesday, January 28, 2015

Hm: Obama makes it to Arabia within 4 days of the king's death, but couldn't pull off DC to Paris for Charlie Hebdo

King Abdullah died on the 23rd, on which he was immediately buried, and Obama scurried from India to Saudi Arabia by yesterday, the 27th, to pay his respects.

The Charlie Hebdo massacre in Paris was on a Wednesday, the 7th, and the infamous parade of idiots which Obama did not attend and to which he did not send a representative occurred on Sunday the 11th.

The flight time for the former is less than 5 hours, and for the latter about 7.5 hours.

Funny how security can be so hastily arranged, from so far away, when the trip really matters.

Tuesday, January 27, 2015

Obama is still a rookie after 6 years in office: drops proposed tax on 529 plans after massive blowback

CNBC reported the story here.

Evidently the White House realized the idea was a non-starter when someone explained that the 529 plans would stop being funded, meaning there would be insufficient revenue to fund alternatives, as reported here:

'On "Power Lunch," [Joe] Hurley [of savingforcollege.com] said this tax will deter people from using 529 plans. "Taxing 529 plans won't pay for any other initiative because people will no longer be using 529 plans," he said. "You can't raise revenue when you don't have any contributions going into these plans."'

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Well DUH!

Sunday, January 25, 2015

Analyst says oil price plummet primarily driven by OPEC abandoning swing producer role

Dirk Leach, who also credits the rising dollar but not to the extent others have, here:

"Now that OPEC has abdicated their role as swing producer, the only mechanism to stabilize oil prices is the market itself based on supply and demand. As we are now seeing, the supply side of that balance has a lot of inertia. Despite some analysts' view that shale production can be turned on and off rather quickly, the time it takes to decrease production is measured in months or quarters while the crude oil price response is essentially immediate. Going forward, we appear to have a crude oil market pricing system with a very fast response time and a very slow feedback mechanism (supply adjustments). Generally, this type of system is not very stable and results in frequent large swings in market pricing. Going forward, it might be a more bumpy oil market than we have been used to."

Saturday, January 24, 2015

Obama wants to tax 529 plans, 53% of which are owned by those making less than $100k

So reports The Wall Street Journal here about Obama's latest attack on the middle class:

"The average account balance [of 529 plans this June] was $20,671. ... The Investment Company Institute, trade group for the mutual-fund industry, says that in 2013 households saving for college through 529 plans, Coverdell ESAs, or mutual funds held outside these accounts tended to be headed by people younger than 45. And 49% of these heads of household had fewer than four years of college. A majority of these households, 53%, earned less than $100,000."

The dollar has surged 2.26% since Wednesday to trade at 95 this morning

The dollar hasn't traded at 95 since late 2003.

Much more of this dollar strength is due to the continued improving fiscal condition of the United States since 2012 than people realize. 

Tax revenues are way up under the made-permanent Bush tax cuts and the made-permanent Alternative Minimum Tax fix, both of which heralded in 2013. Federal receipts are up a whopping combined 36% in 2013 and 2014 over 2012.

And continued Republican control of the purse in Congress has meant almost zero expansion of federal spending. Federal outlays are up a paltry combined less than 1% in 2013 and 2014 over 2012.

The federal government is up a net $845.5 billion in the last two years. That's huge.

The dollar is not simply a fiction which competes with other fictions in the global marketplace, but a symbol of the determination of the American people to play by the rules and pay their bills. It is not a coincidence that this determination lately expressed politically paved the way for falling commodity prices generally, and oil in particular. It is uncertainty which breeds fear-trades.

Speaker John Boehner doesn't get the credit he deserves for achieving under the Democrat President Barack Obama what Republicans before him could only dream about.

And if you want to know what's wrong with Republicans, that's it.

Strange fact of the day: Both General Lee and MLK Jr. were born in January

Born January 19th
Born January 15th

Friday, January 23, 2015

Likely primary voters prefer Mitt Romney to Rubio and Bush in latest Zogby poll


Bank Failure Friday: The Second of 2015

Highland Community Bank, Chicago, Illinois, failed tonight, costing the FDIC $5.8 million.

This is bank failure number two in 2015.