The Other McCain

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

“Act Now,” Says Lagarde, As In “Keep The Kabuki Caterwauling, Kids”

by Smitty via Drudge “The standard old bits of farce are losing traction on the world stage,” she was not quoted as saying, “as more people have access to information. [NSFW] 73 percent of Americans are no longer able to suspend their disbelief for our merde.” What she did say was: She called for a […]

Hard Times Spreading Just Like the Flu …

. . . Watch out, homeboy, don’t let it catch you: In the occasionally prickly world of media reporting, it’s hard to find anyone who does not love, respect and, yes, slightly fear Jack Shafer. So widespread is the love that American Journalism Review published a valentine to him earlier today, devoting 2,500 words to figuring […]

GOP Leaders To Bernanke: “Stop, Or We’re Gonna Say ‘Stop’ Again!”

by Smitty From The Hill: “I think it’s a bad idea. Just printing more money and throwing it out there is devaluing the money we already have,” said Rep. Steve Chabot (R-Ohio) in an interview. “Over the long term it’s inflationary. It sends the wrong message.” Rep. Paul Gosar (R-Ariz.) said he doesn’t think another […]

Guns Better Than Gold?

In response to my constant reminders about rising gold prices — You Should Have Listened To Glenn Beck! — Steve in Tennessee sent me a link to this story by Bill Gunderson at Seeking Alpha: Scared investors have been flocking to gold as our economy, political system, and financial system continue in turmoil. It seems […]

A. Probably Worse Than You Think

Q. How bad is the economy right now? Warren Buffet reportedly bought $5 billion — that’s billion, with a “b” — of Bank of America stock, and yet the Dow Jones Industrial Average still lost 170.89 points. That broke a 3-day streak of gains, and now we notice that mortgage rates are rising, an indicator of […]

$5 Billion To B-of-A, And All The IRS Got Was A Lousy T-Shirt Full Of Platitudes

by Smitty Stop Coddling the Super-Rich, saith the sagebrush of Omaha on 15 August: OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched. Oh boo-effing-hoo. Wait, what’s today’s news? Warren […]

The Economics of Wishful Thinking

The frustrating thing about Ezra Klein is that, just when you think the Boy Genius of the Juicebox Mafia has gotten the scent of a clue, he goes running off on another liberal wild-goose chase: When the financial markets collapsed [in 2008], household debt was nearly 100 percent of GDP. It’s now down to 90 […]

Obamanomics Helps Wall Street Fat Cats?

Four years ago, Bank of America stock was trading above $50 a share. It’s now selling for less than $7 a share. And it may be worth a lot less like that: The stock of a humongous American bank, Bank of America (BAC), is collapsing. This is stoking fears that Bank of America will go […]

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