The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

Why It Is Crucial To Own The Definitions

by Smitty (h/t Lucianne) After former Federal Reserve Chairman Paul Volcker was appointed in 1979, the consumer price index surged into the double digits, causing the now revered Fed Chief to double the benchmark interest rate in order to break the back of inflation. Using the methodology in place at that time puts the CPI […]

Quantitative Easing

by Smitty (via Donald Marron) This is very well done:Take it straight, take it sober: the country is in for a bumpy ride. The plutocrats whose plans suffer a setback today could very well afford to put a horse head in every bed, for small, wooden, PETA-approved values of ‘horse’. The Founding Fathers were deeply […]

Oh, The Preciousss, Preciousss Narrative!

Smitty (h/t Gateway Pundit) So much of the smoke and mirrorssuccess of the current administration, and the Men from O.R.G.A.S.M., is predicated upon an audience of willing dupes. For them, no good can come of this. How is it that CBS wandered off the reservation? Also, given that this is 60 Minutes, how valid is […]

Florida 20: Send Debbie Wasserman-Shultz To The Beach

by Smitty (via The Corner) The sanest wonk in Congress, Paul Ryan, attempts to speak sense. DWS replies with “fear Wall Street”. If anything, Ryan’s plan is too centrist, in my opinion. My opinion is probably not too politically tenable, either. This blog would like to commend Paul Ryan for extraordinary tact when faced with […]

‘We May Be Incompetent, But We Are
All You Have Got’ Is An Increasingly Feckless Argument

by Smitty (h/t Insty) Conglomerate Blog has a doom-tastic post about how New Jersey is being sued by the SEC for creating a situation where bond investors were not provided adequate information to evaluate the state’s ability to fund the pensions or assess their impact on the state’s financial condition. How can this be a […]

Yeah, But Tell Me About The Frogskins

by Smitty (h/t Paco) Thomas Sowell in RCP, on the Constitution being a urinal cake: While various political leaders have, over the centuries, done things that violated either the spirit or the letter of the Constitution, few dared to openly say that the Constitution was wrong and that what they wanted was right. It was […]

Debt Slavery Is THE Issue

by Smitty (via Uncoverage) Uncoverage posts a startling article by that shows: According to Moody’s, the average state per capita debt of the 28 Obama states is $1,728 while the average debt in the 22 McCain states is less than half, at $749. This information alone says a lot about voters and their attitude […]

Rubes: ‘Hey, Where Are We Going? What’s With The Handbasket?’

by Smitty The Editors at the Puffington Host would be amusing with lesser stakes: Members of President Obama’s deficit commission huddled behind closed doors today despite pleas from the left and right that they hold all their meetings in public. The move only heightens suspicion that rather than forging a national consensus on future spending […]

Einstein Was A Physicist. Repeating Others’ Economic Failures, Hoping For Success, Is Sane.

by Smitty The Federal Reserve holds interest rates where they are for an ‘Extended Period‘, and the Dow holds itself above 11k. One person in three thinks the country is one the right track, which may or may not be related to Fed policy. Across the pond, Spain joined Portugal and Greece in the downgrade […]

Your Morning Application Of Fertilizer To The Air Circulator

by Smitty (via Zogger on Slashdot) The Market Oracle is bereft of cheer as the inevitability of the VAT draws near: What has surprisingly received little media attention is that the US Government has been steadily reducing the maturity of its treasury portfolio to keep fiscal deficits down. Whether interest rates rise or it becomes […]

Economics: What If the Experts Are Wrong? And What If They’re Lying?

After the stock market lost 500 points last week, I figured it was well past time to produce another financial news aggregation at NTC News. In a more-or-less random way, I collected these items: Futures trading points to stock rebound; Bernanke confirmation more likely; U.S. dollar declines in overseas trading; CNN poll: Most oppose stimulus; Treasury […]

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