Year: 2010

Icelanders Overwhelmingly Defeat Extortion Deal

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And by overwhelmingly, I mean that the vote against the referendum was 93.2 percent, with about 1% of the votes being spoiled.

As Dean Baker so profoundly notes, the entire bailout is predicated on the idea that bankers can, and should, be allowed to gamble and that the rest of us should be left on the hook:

It should also point out how the Iceland makes a mockery of anyone who claims to support leaving financial activities to the market. In almost all cases, actors in financial markets assume that governments will stand behind banks at the end of the day. Therefore when they say want the government to leave things to the market they are lying. They just want to be able to take risks with taxpayers money, without being fettered by regulations limiting the extent of these risks. In short, the finance boys want a free lunch, not a free market.

In the case of Iceland, this hook is about about €13,000 for every man, woman child on the small island.

We need our bankers, and stockbrokers to be stupid and dull again, because these smart guys are killing us.

Boeing Reveals Tanker Proposal

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But can she type?

It appears to be based on a 767-200 design, though the wings appear longer, perhaps to ameliorate the problems that have occurred on the Japanese and Italian 767 tankers,

Additionally, the boom looks to be a significant departure from their last proposal, probably because a higher fuel flow rate is required under the KC-X contract.

Still no word as to whether or not Northrop Grumman/EADS, or just EADS alone, will bid on the program.

Your F-35 Clusterf%$# Update

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The big news is that, notwithstanding the assertions of the Pentagon and Lockheed-Martin, delays continue apace, with the Pentagon Comptroller saying that the aircraft purchase will have to be cut if the cost continues to escalate, (File that under, “Well, Duh!”) as well as concerns that the 13-month schedule slip is overly optimistic.

It should be noted that this is confirmed by reports in the Startlegram*, which, being the home town paper for the F-35 assembly line, is both in a position to be in the know, and not inclined to come out against Fort Worth’s biggest employer.

We also have Bill Sweetman noticing in the DOD press release that full rate production is delayed to 2016, about a year after where it would start with the claimed 13-month slip.

We are also seeing reports that the Israeli Air Force is extremely concerned about the delays.

You can see a report of the bald-faced lying by Lockheed and the Pentagon, where they claim that everything is hunky dory, but it makes one inclined to invoke Samuel L. Jackson from Pulp Fiction, “Does Marsellus Wallace look like,” because they are seriously f%$#ing with us.

We also have non-movement, basically heat but no light on the F136 alternate engine, with the Defense Department releasing a report saying that adding a 2nd engine was “cost neutral,” only the study did not address the value of:

  • Hedging risks.
  • Greater responsiveness from contractors as a result of competition.
  • Providing alternate growth paths.
  • Industrial base preservation.
  • Potential for innovation from a 2nd contractor.

The DoD wants to cancel the F136 because they want the plane in deployment before Congress realizes how expensive it is.

Another interesting note is that the Memorandum of Agreement specifically allows participating nations to choose the F136 engine.

One should note that the Pentagon’s estimate of development costs are twice that of GE/Rolls Royce’s, and this has led the Chairman and leadership of the House Armed Services Committee to call bullsh%$ on the report.

*The Fort Worth Star Telegram.

OK, This is Now Officially Insubordination

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The Secretary of Defense decided to cancel it, the President agreed, and forwarded the termination onto Congress, which approved, and still the US Air Force is looking at ways to preserve F-22 production tooling:

Five months after the US Congress approved the cancellation of the Lockheed Martin F-22, the air force is still deciding whether to preserve or scrap the production tooling.

The options under discussion include preserving at least the core of Lockheed’s ability to build F-22 components and systems, although restarting production is not the USAF leadership’s intent, says acquisition chief Lt Gen Mark Shackelford.

Rather, USAF officials are considering the cost of preserving tooling to sustain the F-22, which could include a service life extension programme in several years. The same tooling could also be used to repair or replace damaged Raptors.

What part of, “Your bosses told you that the program was terminated don’t you get?”

You don’t get to build new aircraft, and your continued activities are insubordinate.

OK, This is Freaky

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So, Eric Massa (D-NY-29) will resign Monday, following an ethics investigation regarding sexual harassment of a male staffer. He claims that it was simply, “Salty language,” and that the main reason was his diagnosis of Cancer, but this is decidedly odd.

One of the odd things here is that his resignation makes passing healthcare reform easier, because he is a conservative, though not officially a Blue Dog, Democrat, who voted against healthcare reform the first time around, so his exit removes a “no” vote.

And NATO Support and $14.95 Will Get You a New Trenta Size Starbucks Skinny Half Caf White Chocolate Cappuccino

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Russia has cut a deal with the government in the Georgian breakaway region of Abkhazia to build a military base, and NATO has condemned the action:

Russia has signed a deal to build a military base in the rebel Georgian territory of Abkhazia. NATO says the deal violates an existing agreement and has urged Moscow to reverse the decision.

Russia has signed a deal to set up a military base in the Georgian break-away region of Abkhazia. The agreement, which will give Russia a permanent presence in the region on the Black Sea, has been declared invalid by NATO.

Officials from the region said the base will provide a home to at least 3,000 Russian land troops which are already stationed in Abkhazia. As it stands, the deal would enable Russia to station personnel in Abkhazia for a period of at least 49 years.

I would like to see a resolution of these issues in Georgia, but so long as you have the increasingly unstable and anti-democratic Saakashvili in charge, and the west continues to support him, because, I guess he went to western schools, and speaks English well, we won’t.

Not Enough Bullets: AIG Again

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After bankrupting AIG, and nearly taking the world financial system, employees at AIG’s Financial Products division whined about the possibility that they would not get their lucrative bonuses for nearly destroying civilization:

During the national furor that erupted last year after American International Group paid more than $165 million in bonuses, the voices of those vilified for receiving the payments remained silent, at least in public.

But behind closed doors, employees at AIG’s Financial Products division — the very unit whose trading had hastened the insurance giant’s collapse — were defiant, saying they were merely getting what they were due, recoiling at public accusations that they were behind their capitalizing on the company’s massive taxpayer bailout.

“I will stand behind every action I have taken in this company from Day One,” one employee said, according to a newly obtained transcript of a conference call the division’s head held last March with some of his staff.

But it turns out that, they are getting obscene amounts money now:

Yet they did see that money, at least most of it. Last month, under a deal in which employees agreed to take a cut in their upcoming retention bonuses in return for an accelerated payment, AIG paid out about $100 million to employees at the firm. AIG is scheduled to pay the last of the bonuses this month.

Seriously, these arrested development, self absorbed frat boys will never do the right thing, and they should never, ever be allowed near other people’s money ever again.

2¾ Years, 10,625 Posts,* and ………

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The sum total of my creative value

And the first time that anyone contacts me about their desire to advertise is for my film of a tool that removes the anus from a carcass.

Your video Jarvis Products Bung Dropper in Action has become popular on YouTube, and you’re eligible to apply for the YouTube Partnership Program, which allows you to make money from playbacks of your video.

Once you’re approved, making money from your video is easy. Here’s how it works: First sign into your YouTube account. Then, complete the steps outlined here: link omitted. Once you’re finished, we’ll start placing ads next to your video and pay you a share of the revenue as long as you meet the program requirements.

We look forward to adding your video to the YouTube Partnership Program. Thanks and good luck!

The You Tube Team

Well, now I understand my worth as a content creator.

Going through the process was pretty easy, since I already have a Google™ Adsense™ account.

Since I’m only a few bucks away from a payout, I figure that the vid should get me there a month sooner.

*Great googly moogly, I just ran the numbers, and it’s over 10,000 posts! So much tripe in so little time.

OK, This is Weird

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I’m a big fan of Alan Grayson, the Democratic Congressman from Florida’s 8th district; he is intelligent, fearless, and takes moral stands that resonate with the voters.

Needless to say, the Republicans want him gone, and they are looking to take him down in what is a fairly closely divided district.

Well, they may find this difficult, because the latest poll shows Alan Grayson beating all challengers in the Republican primary:

Republicans like a politician who stands up for what he believes — even if he believes the Republican Party is populated by a bunch of “knuckle-dragging Neanderthals.”

The candidate leading the Florida GOP primary to determine who will take on Rep. Alan Grayson, the Democrat who represents the Orlando-based district, is none other than Grayson himself, according to a poll paid for by his campaign. Grayson is a freshman congressman who has drawn scorn from the GOP and has quickly built a nationwide following of progressives.

The poll has Grayson leading the 13 Republicans — among Republicans — with 27.8 percent of the vote. The congressman who mocked the GOP health care plan by saying that it amounts to telling people not to get sick and if they do, to die quickly, received more support than all of the Republican candidates combined.

I have always said that American voters respect a politician who says what he thinks, even if he says that he thinks that you are a c%$#sucker, and here we have documentary evidence.

Economics Update

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Employment-to-Population Ratio: Men (25-54 Years)

Labour Force Participation Rate: Men (25-54 Years)

And Barry Ritholtz scares the hell out of us

Well, today is Jobless Thursday, and new unemployment claims fell by 29,000 to 469,000, which is better, but not good.

The numbers needs to be below 400K before we see anything near real job growth.

The 4 week moving average fell by 3,500 to 470,750, though that number is still bigger than it was at the start of the year.

Continuing claims fell significantly, to 4,500,000, and next week, I will be a no longer be a part of that number (I file for the prior 2 weeks on Sunday).

Still, the news is an improvement, as is the latest Beige Book from the Federal Reserve, which shows signs of employment.

In any case, the ADP report on private sector jobs shows a loss of 20,000 jobs, which is the best month from them since January 2008.

So, the picture is not good, but appears to be improving, but fragile.

But if you want to be scared, just look at Barry Ritholtz’s analysis of historical employment for adult males, see the graph pr0n.

On a more personal level, personal bankruptcies rose in February.

We are seeing continued growth in manufacturing, at least according to the Institute for Supply Management Manufacturing Index, which fell to 56.5 from 58.4, but since any reading above 50 means expansion, it’s still positive.

The services sector is also showing encouraging growth.

Still, real estate is a mess, with pending home sales index falling 7.6%, though part of this might be the snowpocalypse.

Still, interest rates are not a problem with the 30-year fixed-rate mortgage rate averaging 4.97 %, which is the first time in a while that it has been below 5%.

Finally, the Bank of England left its benchmark rates unchanged, as well as holding off on more quantitative easing. (Printing money)

Deep Thought:

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When you work at the Washington Post, and you report stories on Rahm Emanuel that are so slanted that it appears that they have been written by Rahm Emanuel, you are lame.

When these articles become so wankerrific that David Broder, the high priest of the Beltway Kool Kidz Klub feels compelled to call the authors as well out by name, chastizing Dana Milbank and Jason Horowitz, you are dealing with a density of wankertude which is almost unimaginable.

When you realize that he is also criticizing the paper running this story, The Washington Post, and the fact that Broder himself works at the Washington Post, the level of wanking at what Atrios calls the Kaplan test company is approaching a point where the paper is risking a collapse into some sort of wanking black hole.

Republican Family Values

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California State Senator Roy Ashburn (R-18th district) was cited for DUI after leaving a gay bar:

An anti-gay California state senator was placed under arrest for drunk driving after leaving a gay bar. A male passenger was in the vehicle along with the lawmaker was not arrested, reported Sacramento CBS affiliate Channel 13.

State Sen. Roy Ashburn was pulled over by the California Highway Patrol at about 2:00 a.m. on March 3 when his state-issued vehicle was observed being driven erratically. The driver, identified as Ashburn, was taken in and charged for driving under the influence. Channel 13 reported that unidentified sources said the senator had been at Faces, a popular gay nightspot, prior to his arrest.

According to TPM, this guy was big into banning gay marriage.

Light Posting for the Foreseeable Future

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Which means 2-5 posts a day, as opposed to the 8-11 a day that I have been doing.

I got a job. It’s not engineering, it a contract as a tech writer, and it’s near the airport, so I can get there quickly.

I will be working on documention for US Government equipment, and as per my policy, I will leave it there, because if I don’t talk about the specifics of my job, I won’t say anything that should be proprietary, or anything that would embarrass the client.

So while I may make generic comments about how busy I am, or make a note about, for example, how neat the 3D printer is, I won’t generally comment on the business of the client.

I’m leaving this on the top of the page until Wednesday evening, so scroll down for newer posts.