The Other McCain

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

Don’t Blame The Class, Blame The School Of Thought

by Smitty Insty links Mark Steyn’s latest lamentation: But these comparisons tend to understate the insolvency of America, failing as they do to take into account state and municipal debts and public pension liabilities. When Morgan Stanley ran those numbers in 2009, the debt-to-revenue ratio in Greece was 312 percent; in the United States it […]

The End, Of Course, Will Arrive As A Reptilian Monster

by Smitty via Zero Hedge, this looks like the most boring, real-world, fantastic disaster flick ever: End of the Road Documentary Trailer from Tim Delmastro on Vimeo. I, for one, demand a rockin’ soundtrack:

They Told Me If I Voted For McCain, Politicized Economists Would Engage In Class Warfare Instead Of Speaking Truth To Power, And They Were Right!

by Smitty Robert Reich: But the rise in gas prices has almost nothing to do with energy policy. It has everything to do with America’s continuing failure to adequately regulate Wall Street. But don’t hold your breath waiting for Republicans to tell the truth. As I’ve noted before, oil supplies aren’t being squeezed. Over 80 […]

Must-Read Post Of The Day

by Smitty Tom Blumer over at Pajamas Media has a crucial outing on the federal budget: Here are two important but little-known and underappreciated points about the Super Dupers’ failure which cannot be emphasized enough: None of the alleged “savings” under discussion (really reductions in projected spending increases) would have kicked in until the beginning […]

$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 […]

Eating Crow About Sprinklerman

by Smitty Indeed, Boehner’s great big little cuts seem hardly a cause for capillary bleeding. The anti-Boehner chorus was a tad too shrill, in my estimate. Then again, I had relatively low expectations for the 112th Congress. You have to understand that our Ruling Class overlords still expect Americans to balk at the pain of […]

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 […]

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