Year: 2010

Charlie Crist Announces Independent Run for Senate

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He’s left the Republican Party to run for the Senate as an independent.

The reason that he gives is that the, “political system [is] broken.”

I think that he would have gotten a few more votes out of telling the truth, which is that, “The nutjobs in the Florida Republican party are running the asylum now.”

In related news, John Cornyn, head of the RSCC, wants his money back.

If Crist has any brains, he will tell him, and anyone else, to go pound sand, that they contributed to a conservative candidate for Senate, and he is still that.

He could play it as Reagan did with his, “I am paying for this microphone, Mr. Breen.,” moment.

Obama Finally Makes 3 Fed Nominations

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As is expected, Janet Yellen was nominated as vice chairman of the Fed No. 2, along with Sarah Raskin and Peter Diamond.

Yellen is known as an inflation Dove, which is a good thing, though I don’t think that she will be the next Fed chair, she is 63, and neither would Mr. Diamond, he is 70.

Assuming that they are confirmed, it will mean that Obama has now appointed a majority of the permanent members of the FOMC.

Well, Here’s a Shocker

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It looks like the explosion and subsequent oil spill that is threatening Louisiana and other Gulf coast coastal regions may have been caused by a failure to properly seal the pipes with cement, a procedure that was performed by Halliburton:

The scrutiny on cementing will focus attention on Halliburton Co., the oilfield-services firm that was handling the cementing process on the rig, which burned and sank last week. The disaster, which killed 11, has left a gusher of oil streaming into the Gulf from a mile under the surface.

Halliburton is the Vampire Squid of the oil services industry.

Jon Stewart:12 – Steve Jobs:0

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Brutal!

The interesting thing here is that it’s actually pretty clear that Jon Stewart is a big fan huge fanboi of Apple® Computer and its products, and his take-down of Apple’s actions in the Gismodo iPhone prototype case is even more brutal because of it:

It wasn’t supposed to be this way. Microsoft was supposed to be the evil one. But now you guys are busting down doors in Palo Alto, while commandant Gates is ridding the world of mosquitoes. What the f**k is going on? It is all mixed up. I don’t know which end is up anymore. Black is white. Cats are dogs.

His point is that a large part of the appeal of products from Apple® is that it is, in some manner, sticking it to the man, and that now they are the man.

He also notes that in its corporate paranoia, Apple® ignores the real threats to its products:

I mean, if you wanna break down someone’s door, why don’t you start with AT&T, for God sakes? They make your amazing phone unusable as a phone! I mean, seriously! How do you drop four calls in a one-mile stretch of the West Side Highway! There’re no buildings around! What, does the open space confuse AT&T’s signal?!

Brutal, particularly when he invokes Apple®‘s iconic 1984 ad.

Vampire Squid Investigations Go Criminal

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Not a whole bunch of detail yet, but it appears that the SEC referred the issues in its civil fraud complaint against Goldman Sachs to the US Attorney in Manhattan, and they are now investigating. (See also here)

Obviously, an investigation does not prove guilt, nor does it guarantee a successful prosecution, though I think that the Prosecutors will have a lot to go on, because Goldman Sach’s personnel policy has employees regularly filling out self evaluation forms, and very likely these have some admissions of wrongdoing.

I think that a judge would be far more willing to grant a warrant for these records in a criminal investigation than he would for a civil investigation.

Economics Update (a Day Late)

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It was jobless Thursday, and the news is generally good, with applications for initial unemployment claims falling again, falling by 11k to a seasonally adjusted 448K, though the 4 week moving average rose slightly, and the continuing claims fell slightly to 4.65 million.

Additionally, the The Federal Reserve Bank of Chicago’s national activity index rose in March, foreclosures fell in the 1st quarter, though things like foreclosure moratoriums and mandatory arbitration may have contributed to this, and Japanese consumer spending and wages rose in March, though prices continue to fall.

Also, 30 year mortgage rates fell slightly this week, which moderates concerns about increasing interest rates.

Additionally, US treasurys rose, and yields fell slightly in the latest 7-year auction, implying that rates remain stable.

Energy and currency are largely being driven by Greece.

People are less concerned about a Greek default, which has reduced demand for the dollar as safe haven, driving the dollar lower, and the lower dollar has drive oil prices higher.

Economics Update

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Well, the Federal Reserves Open Market Committee (FOMC) has spoken, and it has kept its benchmark rate at effectively 0, and repeated its statement that the rates will remain low for an extended period.

Not an unexpected development. After all, the economy still sucks.

In real estate, mortgage applications fell overall, but home purchase applications rose. This is probably the interplay of rising rates versus the expiration of the home purchase tax credit.

In the real world, the American Trucking Aassociation’s Trucking Tonnage Index rose in March, indicating that there is something positive going on.

In the world of sovereign debt, the US Treasury 5-year bonds’ yeild rose to 2.54%, though compared to the yield on 2-year Greek bonds, which are now over 20% (!), it’s pretty cheap money.

Also note that in the continuing euro zone meltdown, Spain’s debt rating was cut S&P.

In energy and currency, oil rose on the news that the FOMC’s posture is unchanged, and the dollar rose on continued Euro zone problems.

The Republicans Cave on Finance

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The Senate has agreed to start a debate on the financial reform package.

What the Republicans were angling for was a pre-approved package, with back room Ben Nelson(DINO-NE)-type deals cut in secret, so that they would get what they wanted without their finger prints on the deals.


Please sir, can I have some more?

Well, now it looks as if the bill will be in flux on the floor, which means that the sellouts will have to be public, as will voting in opposition to some of the amendments to strengthen the bill.

Harry Reid has hung tough, and the Democrats have been effective in painting Republican obstructionism for what it is.

This needs to be the rule, not the exception.

You Idiot, You Were the One Slowing It Down!

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So now Angela Merkel is complaining that the rescue package for Greece is moving too slowly:

German Chancellor Angela Merkel said on Wednesday Greece’s international bailout must be accelerated for the sake of the entire euro zone, as the far bigger Spanish economy suffered a credit rating downgrade.

Yo! You Moron!!!!! The person who has being doing all that She can to slow walk this rescue is one, “German Chancellor Angela Merkel.”

I understand that the German public does not like the idea of bailing out Greece, but you pandered to, and encouraged, that sentiment relentlessly, unlike some of the members of your cabinet with whom you clashed, who have accepted the truth.

I hate this, “Why are you slowing down because I’m laying across the tracks,” act.

A Personal Anecdotal Economic Data Point

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On Monday, I sent out an update of my resume including my brief stint as a tech writer (also here).

Basically, it needs to be included, because I want to plug the hole in my employment history, so something with “2010” in it is useful, but I don’t want to get a bunch calls from recruiters who do not look past the key word search calling me with technical writer positions,* so I listed my title is listed as, “Developer/Writer.”

It is true and accurate. “Developer” was my official title, and writer was what I did, but by avoiding the dreaded term “technical writer”, I won’t trigger a keyword search.

In any case, on to the data point:

I got a very strong response to my resume mailing,† perhaps 50% more responses by phone or email that happened with my last resume drop in October 2009.

So, I do have a sense of things picking up.

BTW, if you want to look at my resume, you can see it, as well as an 8 page complete CV that covers everything back to college, here.

*At least not ones from out of town. I’m not willing to travel to be a tech writer, but I’m willing to commute daily to be one.
†I use a shell account at Panix.com, who I highly recommend, and I have a whole series of Unix scripts that allow me to send a few hundred emails, or do a mail merge into an email, with attached files, with each recipient getting an individualized “To:” header. (I.e. no BCC:) If you are interested, drop me a line, and I will send them to you.‡
‡And there is no need to tell me that it’s ugly C shell script. I already know this.

I’m Henry VIII I Am

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Well, not exactly, but it appears that my 2 weeks on Doxycycline has given me gout in my left big toe.

One of the triggers for gout is a sterile digestive tract, which the drug has delivered in spades.

I went to the urgent care clinic, and after a bit of a wait, got a quick diagnosis from the doctor.

I’m on Indocin, which is basically industrial strength Ibuprofen, and Colchicine, which is some weird stuff derived from the Autumn crocus.

The instructions for Colchicine say, “Take 1-2 tablets every 2 hours until pain stops, or nausea-vomiting-diarrhea.”

I just the Wiki on Colchicine. Great googly moogly. This is nasty stuff, as in a fairly potent cellular toxin when used to excess..

I’m taking my meds, and another acidophilus to deal with the “sterile digestive tract,” and heading to bed, thank you very much.

Economics Update

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More good news, with the Conference Board’s consumer confidence index rising in April, and home prices falling in February.

I bet you are wondering how home prices falling in February is a good thing. Well, it’s simple, it fell month to month, but rose on a year over year basis, for the first time since December, 2006.

It may mean that things are bottoming out.

Certainly, it’s better than the alternative.

Still, the financial crisis looks to remain with us for some time, with Greece and Portugal’s sovereign debt downgraded by Standard & Poors, with some of Greece’s debt now rated as junk bonds.

Unsurprisingly, this has led to a flight to safety and concerns about the recovery, which has driven the dollar higher and oil lower.

The Meth Lab of Democracy

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You know, maybe legislators should engage in a mental exorcise known as a Jon Stewart test

Arizona, of course, Stewart makes the comment about 1 minute in.

As Wyatt Cenac notes, the authorities are just looking for suspicious behavior, like, “Gardening or burping white people’s babies.”

I so want one of his writers as a speech writer if I ever run for office.

Good Politics, Good Policy

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Click for full size


Even the right-wing Belo Corporation journalism cancer known as the Dallas Morning News


And the Mooney Times

Media Matters has a large selection of newspaper front pages, and it looks like Mitch McConnell’s ploy to kill financial reform is not playing in Peoria.

The lede is all about the filibuster, and how the ‘Phants are doing their best to kill and slow-walk the process, even in reliably right wing newspapers.

Here’s hoping that the Dems notice, and double down on making the Republicans do this again, and again, and again, and again.

Keep up the good work.

Do not compromise on financial reform, you already have, make them crawl to you, and scatter some broken glass in their path.

A Neat Piece of History

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An article from Time magazine from June 5, 1933 about the creation of deposit insurance:

Through the great banking houses of Manhattan last week ran wild-eyed alarm. Big bankers stared at one another in anger and astonishment. A bill just passed by both houses of Congress would rivet upon their institutions what they considered a monstrous system of guaranteeing bank deposits. Such a system, they felt, would not only rob them of their pride of profession but would reduce all U. S. banking to its lowest level. They saw their deposits which they had spent a lifetime to build up and protect with their good names confiscated by the Government to pay for the mistakes and dishonesty of every smalltown bankster.

Don’t think that our masters of the universe believe anything different than that these masters of the universe believed.

They always believe that they are good, and noble, and brilliant, and that it’s always someone else’s fault.

Failing by Design

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So, after releasing an ambitious plan to reign in the exotic insurance-like financial instruments known as swaps, Blanche Lincoln is saying that she thinks that the proposal will not survive the Senate:

Senator Blanche Lincoln said she isn’t sure her plan to make banks wall off their swaps-trading desks has enough support to become part of financial-regulatory overhaul, while calling the provision effective change.

……

“I don’t know if I have the votes” for the provision, Lincoln said today. When the measure comes to the floor for debate, senators could vote to remove her plan, Lincoln said.

Let’s be clear, Senators don’t say things like this about proposals of theirs that they want to pass, they say it about proposals of theirs that they want someone else to kill.

Lincoln is trying to present herself as the liberals’ great white hope in the primary, but it’s just a pose, which is why the US Chamber of Commerce is doing a TV ad blitz for her.

Do not be deceived: She is owned by Walmart, the big banks, the health insurers, and the rest of those pig felching rat bastards.

Stephen Colbert Answers the Question

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The W0rd is: Straight to Video

You see, the teabaggers are accusing of Lindsey Graham of making nice with the Democrats because he is being blackmailed because he’s gay.

Colbert’s solution, Lindsey Graham needs to release a heterosexual sex tape.

It’s a reasonable suggestion, but I’m not sure that making such a tape is even remotely possible.