Tea Is SO Un-American

A list of things which are at least somewhat disconcerting about the tea party debate.

1)  Rick Perry’s stance on Social Security.  Yea, he’s spoken and written on this subject before, and seems to think that he is the only one who has had the courage to stand up and say it needs reform.  Untrue.  Dubya wanted to, and tried to do it, but the American people HOWLED with displeasure at him for even attempting it, and his plan to privatize Soc. Sec. was soundly beaten back by the common sense of the people.

Soc. Security taxes need to be increased in order to keep it in the black.  It will stay in the black for a few more decades in it’s current state, and it couldn’t hurt to add money to it at this point.

And it is not a friggin ponzi scheme.  Jackass.

2)  Michele Bachmann likes cervical cancer.  Yep.  You read that right.  Dumbass thinks that Gov. Perry, by having 11 and 12 year olds in his state get inoculated for HPV, was him actually taking part in “crony capitalism.”  So would she rather have him ignore cervical cancer in his state?

She then shot herself in the foot a second time by implying that the vaccine actually causes “mental retardation” despite the fact that there is no proof of this whatsoever.

She is just plain weird sometimes.

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Saskatchewan is much like Texas — except it’s more friendly to the United States.

Adlai Stevenson

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3) The tea party is filled with evil sadistic assholes.  You want proof?  Watch the video below and learn the depths to which America has sunk.  Curiously I could not find actual video from the debate, but what I found was Thom Hartmann talking about it, with the clip within it.  The 50 seconds or so are audio only, and begins at the 45 second mark.

It is to my mind unconscionable that Americans would, even in a hypothetical case like this, root for another American to die, simply because he chose to not have health insurance.  Man, you tea party patriots are a bunch of heartless, raving shitheads.

And listen, I do get that Ron Paul, the Candidate being spoken to there, was talking more about individual choices, and if you bet and lose, you should man up and take it.  I agree.  But when we are talking about human life, that is something we are supposed to hold sacred.  I know I hold mine sacred.  But the tea party does not.  It’s that simple… unless it is an as yet unborn human.  The hypocritical bullshit that passes as morals from these people is alarming.

4)  The Stimulus did what?  According to Rick Perry, it did not add one single job.

Which is silly, yet somewhat true.  He’s right it didn’t add 1 job, it added between 1 and 3.3 million jobs, and helped cut unemployment between .7% and 1.8%.  According to the non-partisan CBO.

Ya know, there are a few things I never expect from a conservative. Math skills are definitely one of those things. They have after all championed, among other things, the use of the laffer curve, a cute mathematical abstraction that belongs in economics 101 but not EVER in the real world.

Rick needs to learn to count.  Or read.

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If I owned Texas and Hell, I would rent out Texas and live in Hell.

Gen. Philip Sheridan

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Morals is another one of them.  After all, the Tea Party is nothing more than the re-branded name of the right wing social conservative Gestapo bastards who tried their damnedest to destroy the country from 2001 to 2008 with that jackass Dubya and his trained dogs at the helm.

Between Perry,  his stimulus bullshit, his Soc.  Sec. bullshit, and Ron Paul and his trained monkeys preferring to let people who make bad health insurance decisions die, I think this space on the web will, from now on, dedicate some space to MESSING WITH TEXAS.

Because Texas is apparently so filled with idiots, it’s trying to dump the excess on us!  AGAIN!  You did that crap once with Dubya, we still haven’t forgiven you trying to destroy America with that bullshit, and we ain’t takin that crap from you evil bastards twice.

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That’s it from me, America.  G’night.

BMI Plus Stimulus Equals Paranoia From The Right… Again

No government is perfect. One of the chief virtues of a democracy, however, is that its defects are always visible and under democratic processes can be pointed out and corrected.

Harry S. Truman

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Saw something today while running through some articles on Hubpages today that frankly had me giggling just a hair.  It is a meme that is currently running beginning a run through the right wing of this country, and I thought I would get a jump on it by telling you about it.  It really is serious, if seen from the standpoint of someone dumb enough to actually believe it, but once you know the truth, it is worth a giggle at exactly how gullible those on the right are, especially where anti-government hysteria kicks in.

This one has to do with the Stimulus and your BMI.  And no, BMI is not some stupid new Government bureaucracy acronym, I am actually talking about good old BMI, Body Mass Index, a way to measure how overweight or not you are. And the Stimulus.

Seriously.

There are people out there who seem to think they see in this bill, along with new criteria set out by Hippa, that your and my and everyone else’s BMI, among other things, will be on public display. 

It really is a case of these people simply not reading the entire document, and making assumptions based on incomplete data that points in a direction they want to go in, at least insofar as they want to think bad things about government.  What they failed to see in the original stimulus bill, and it is as clear as day to those who have eyes and actually paid attention to what they read, that it clearly states that the bill does not alter in any way previously existing security and privacy rules already in place.

Meaning, if they couldn’t touch or go through your public records before, and make them public, and they could not, they won’t be able to now.

Silly people, if it sounds too dumb to be true, it usually is, and BMI AS PUBLIC KNOWLEDGE sounds too dumb to be true.

But, by all means right wing America, keep showing me and the rest of the world your paranoia. We find it entertaining.  And if you’re that worried about your BMI, get off of your fat ass and run a few miles, ya lazy bums.

🙂

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Viddy of the day:  Cenk Uyger, making me want to go beat the crap out of some rich man. Exxon, Chevron, GE, B of A.  These guys get away with murder, pay nothing in taxes.  It’s nuts.  We need Tax revenue, and we let these bums go without paying.  Bastards.

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Those who want the Government to regulate matters of the mind and spirit are like men who are so afraid of being murdered that they commit suicide to avoid assassination.

Harry Truman

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Thursday’s links w/commentary:

America and Taxes A happy little ditty.  I wrote it myself.  I think it’s a nice piece with a number of facts about taxation, with a brief editorial on the end. Go over and read it, If you’ve gotten this far, you like something about my writing, and it’s more of the same happiness there.

Table 2 — Preliminary annual UCR  For those who don’t know, the UCR, or Uniform crime report is an annual report put out by the FBI that collates all data as reported by law enforcement agencies around the United States.  And contrary to the reports put out by Jon Kyl and the right, crime is down in general in the southwest, and in particular in Arizona.  One presumes in part because of some fine police work, and good hard working law abiding citizenry down there, and has nothing to do with Kyl and his criminally conservative friends in Washington.

Romer to step down as chairwoman of the Presidents council of economic advisers  There has been infighting between her and Larry Summers, says this report.  The report also says she insists she is leaving for personal reasons, and will be returning to her teaching job at Berkeley.  Peter Orszag stepped down as head of the Office of Management and Budget last week, another key economic post.  She couldn’t handle Larry, huh? No surprise, stories abound about how much of an asshole he is.   Hell, I’ll take the job.  I can Kick Larry’s fat ass and keep his bullshit in check.  🙂 And if I don’t get the job, expect Austan Goolsbee to get it.  Call it a hunch that skull and bones boy will get the gig.

Kagan win warns of battles yet to come  What? Polarization? In the Senate? NEVER!!!!  C’mon, anyone with three brain cells in their heads knew this was going to happen, that she would get in but it would be close.  Just because she’s friendly with Lindsey Graham doesn’t mean John Thune and Tom Coburn and David Vitter and that idiot McConnell are as well. 

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That’s it from here America, go grab a good nights sleep, tomorrow’s a big day.

Riff and Rant

Do not shorten the morning by getting up late, or waste it in unworthy occupations or in talk; look upon it as the quintessence of life, as to a certain extent sacred. Evening is like old age: we are languid, talkative, silly. Each day is a little life: every waking and rising a little birth, every fresh morning a little youth, every going to rest and sleep a little death.

Arthur Schopenhauer

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Sunday’s links:

Sacramento man expelled from national tea party group for blog comments

McConnell ducks questions about tea party racism

Tarp auditor criticizes Obama administration’s push to close auto dealerships

US orders BP to provide oil well cap release plan

Allen indicates gulf ‘seepage’

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Viddy of the day:  From Candy Crowley’s State of the Union, with Sen. Mitch McConnell.  For the entire length of this video McConnell does this amazing thing.  He doesn’t answer one question Candy asks him, dodges out of the way of facts that could conceivably make him look bad, painting both him and Republicans as hurting America’s present in the name of the future, when the help for the present he is obstructing hurts our future, by blocking the path to help the people get to that future in one piece.

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Another doctrine repugnant to civil society, is that whatsoever a man does against his conscience, is sin; and it dependeth on the presumption of making himself judge of good and evil. For a man’s conscience and his judgement are the same thing, and as the judgement, so also the conscience may be erroneous.

Thomas Hobbes, Leviathan

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I am on unemployment.  My funds have not been cut off, so I am safe from the scourge that the republicans have visited on my people.  The

The chinless wonder strikes again

words they use obfuscate and blind us to the real issue here, the fact that millions are out of work and frankly, that is the fault of the Republicans, who spent like madmen in the early part of the decade, cut taxes so that nothing got paid for, and laid an immensely expensive backdrop in front of which this whole mess is unfolding. The real issue is America needs help, NOW, not later. 

They claim that the Democrats are doing all this unnecessary spending.  I agree with almost ever word in that sentence, except one.

Unnecessary. 

What part of any bill the democratically controlled congress has spent unnecessarily? Name it for me, here and now.  Any person who gives a damn about their country can see that TARP was necessary.  It was mishandled by the previous administration, namely by Henry Paulson and Neel Kashkari, but this administration has done all it can to get it under control.  Elizabeth Warren has done wonders for that program, if you haven’t been paying attention.

The stimulus package? Sure you can make fun of people making signs that say ” this job-site funded by stimulus money” or whatever they actually say, but the person making that sign has that job thanks to stimulus funds, and they keep food on his or her table, and clothes on their backs and roofs over their heads.   And a great many other projects, some of which I have written about in this space previously.  Unnecessary?  Tell that to all the people who have jobs, either created or saved, by the stimulus.

The stimulus is seed money for building a path to the future, to jobs creation not just immediate but prospective.  It shows that we have our eyes on the future, preparing for it by making jobs in new industries that will stay here in the United States, that can’t be exported, shipped to china or Mexico or Saudi Arabia. 

 This isn’t about wants.  This is about jobs, and infrastructure this nation needs.  This is about building a future we can depend on so that our children, and our children’s children, whom Sen. McConnell seems to be so bent on helping, can actually have a future.  Sen. McConnell, by his actions, and the actions of his republican comrades in arms from the earlier part of the Bush administration to now, have shown no actual compunction to help by trying to accomplish anything, save wreck that future he now cherishes so dearly.  Tax cuts for the rich undermined our economic future years ago, cutting off unemployment now does the same thing.

Quit yer yapping, McConnell, and vote FOR the unemployment insurance extension the next time it comes around.

The whole world is watching.

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A riff for you before I go:  Part one of a very short riff.  The only reason I’m only putting this very short snippet in here is that I am uncertain about how well the spacing on this will work.  If the spacing works out well, I’ll do more.

– – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –

– – – – – – – – – – – – – – – – – – – – – – 8 – – – – – – – –

7 – – – 7 – – 9 – – – 9 – – – 10 – – – – – -10 – – – – -9 – 

– – 7 – – – – – – – 7 – – – – – – – – 7 – – – – – – – 7 – -7 –

8 – – – 8 – – 7 – – – 7 – – – 5 – – – – – – -5 – – – – – -5 –

– – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 

Much more… if it works.  If it doesn’t, I’ll still leave this here, just to show that I tried.

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G’night America.  Wish me luck in the job hunt tomorrow.

Debunking Propaganda, Part I

When we risk no contradiction,
It prompts the tongue to deal in fiction.

John Gay, Fables

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I thought today would be a good day to look at a few of the dumber lines and lies we have been asked, as Americans, to swallow.

Lie: President Obama said he would keep Unemployment at 8%.  But he lied! 

Truth: He never actually said that.   Christine Romer and Jared Bernstein did, in a report that came out a two weeks before the President’s Inauguration.  Now I know that this one has been stated and restated so often, that it is most likely taken as fact by most Americans. But it is testament to the disinformation and misinformation running rampant around America right now that the words of Mr.  Bernstein and Mrs.Romer’s, which were written in 2008 and came out during the second week of 2009, would be taken as President Obama’s, as if he actually said them.

When the report was written BTW, Unemployment was at 7.2%, and they were calling for an addition of 1.3% unemployment.  The Job losses that came after the report, and before the passage of the stimulus bill, was an additional 9/10th of 1 percent, to 8.1%.

Let that roll around your head.  Before the Stimulus bill was even passed.  And the report itself had this disclaimer “There is the more fundamental uncertainty that comes with any estimate of the effects of a program. Our estimates of economic relationships and rules of thumb are derived from historical experience and so will not apply exactly in any given episode.”

And while the estimates were, not surprisingly, off by a fair bit, the truth of the statement that Obama said 8% can simply not be proven.

Because he never said it.  His people wrote about it, BEFORE he came to power, but they are not his words.

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Viddy of the day: Assessment the economic impact of the Recovery act, with Christina Romer and Vice President Biden.  This is a long one, at over 33 minutes, so grab a drink and some munchies before you watch this.

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Wednesday’s link-o-rama:

New Program to help homeowners avoid Foreclosure 

Companies pile up cash but remain hesitant to add jobs  (those America hating assholes, making a bad situation worse)

White House: Stimulus funded 3 million jobs

Allen: BP to proceed with Gulf well’s integrity test

Toyota concedes 2 flaws caused sudden acceleration (buy American, dammit)

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Nothing is so firmly believed as that which we least know.

Michel De Montaigne

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Lie:  The Stimulus bill hasn’t worked.   Truth: According to the numbers, the Stimulus package has funded some 682,370 jobs, for the first quarter, the last quarter reported by recovery.gov.  That quarter was  from January 1st to March 31st of this year.

You’ve heard this one before. Obamanomics isn’t working. The Stimulus isn’t doing anything.  

OK, you see no effect, let me toss a few numbers at you, before I show you the effect.

The numbers, released by the White house today, put the amount of jobs created in total by the stimulus at 3.6 million jobs.  It will create tens of thousands more jobs in the future, far beyond the initial help of the stimulus.  In Holland Michigan, for example, the stim is expected to create 10,000 jobs in a town of 23,000 over the next ten years.  The Job market is currently depressed, but will soon see expansion.

Companies all over my hometown, Staten Island, New York, are reaping benefits. From the stim money that is paying for the work on the Staten Island ferry, to paying to help victims of crime with everything from shelter to legal advocacy, to various infrastructure projects and funding 2 clinics that bring health care to very under-served portions of the Island, the effect here has been both far reaching and positive. 

I want you to imagine how much worse off the country would be with 3.6 million more people out of work, and how many lives would be even more negatively impacted than they are now without the stimulus money.  Jobs have been saved. We would be looking at 14% unemployment by some estimates without the stimulus, what would that make the underemployment number without it? Care to venture a guess?  This is only a guess, but if the underemployed number now is around 18%, one can safely assume it may well have been at 22 or 23% without.

The stimulus is a great many things, and the best thing it does is it works.  Despite the negative effects of 30 years of mismanagement by conservative or conservative inspired laissez-faire fiscal leadership on a great many levels in this country for a great many years, the stimulus is helping America get out of the hole that they dug for us for all those years.

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More like this tomorrow, Go to sleep America.

Anagram: Clear Strong Mind/ Cradling Monster

       The words for this one I grabbed more or less at random.  I was looking for Ideas for the title here, and I found this list of the 500 most Jabberwockycommon words in the English language.  The words Clear Strong and Mind were ranked numbers 446, 442, and 444 respectively.  I tried a few other words together, but decided against “Deep(463) Moon(464) Island(465)” because the anagram “Dandelion Poems” just sounded…Just no, not for me thanks. “Country(206) Found(207) Answer(208)” didn’t treat me any better with the best anagram I could find being “funerary countdowns”

    I am kind of short on time.  Work, while not busy, is short handed, which means I get overtime, so I can’t play long tonight.  A viddy or two, some very quick witty repartee, and I am done.

      Tis good to see that the Protesters are back in force in Iran, keeping Ahmadinejad and the Guardian Council on their toes.  Iran will still be a nuclear nation at some point regardless of how this struggle for freedom goes, but the hope that maybe there will be a  more friendly nation where now there is only an aggressor.  Some more personal freedoms, along with a better relationship with the west.  Sounds like a plan to me. 

    And now for something completely different… 

    OK, aside from announcer guy, whose name eludes me for the moment, being cutesy with the Viagra references in relation to a second stimulus package, I think Brian Angerame is right in saying lets at least wait until we’ve seen the effect of the first stim before going for a second.   But the whole ” spend, spend, spend” mentality that they talk about here is what got us in trouble in the first place.  But I like the thought that someone out there saying publicly that saving on every level will in the long term help the economy.  Too often we talk about spending, we need to have money in order to spend it, right? 

      The Stimulus package and the Omnibus spending bill was meant to generate cash-flow, and it has, not as much as we would like but it’s coming, give it time.  But there is only so much of that that the system and the people can tolerate.  Let’s not spend too much more while the companies that are doing the damage to the economy, by firing people left right and crooked to save their own bottom lines, are endangering the short term strength of the nation at our expense, short circuiting our capacity to pull ourselves out of this mess.

    And on that note, I must depart.    T__E__Lawrence_1921

Today’s Nuggets, By T.E. Lawrence, Via Wikiquote:  I’ve been & am absurdly over-estimated. There are no supermen & I’m quite ordinary, & will say so whatever the artistic results. In that point I’m one of the few people who tell the truth about myself.

You wonder what I am doing? Well, so do I, in truth. Days seem to dawn, suns to shine, evenings to follow, and then I sleep. What I have done, what I am doing, what I am going to do, puzzle and bewilder me. Have you ever been a leaf and fallen from your tree in autumn and been really puzzled about it? That’s the feeling.

I loved you, so I drew these tides of men into my hands
and wrote my will across the sky in stars
To gain you Freedom, the seven-pillared worthy house,
that your eyes might be shining for me
When I came.

Anagram: Friday Musings/ Surfing Dismay

       Fun with Socialism:  A video to start things off.

    I do not believe that government is evil. The belief that the democrats, trying to use spending to fix the problems created by years of American Flaginefficiency within the system, and damage done by the system to America is somehow socialist is to me a bit silly.  I have in past given a simple proof of the incorrectness of this viewpoint.  I will do it again.  Textbook definition of socialism, followed by the actual plan of the president, to show simply and definitively that the two concepts simply do not mesh.  He may be many things, but socialist is not one of them.  The Definition courtesy of dictionary.com
  

Socialism: a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.

     Now, let’s take a look at what the president is doing.  He is spending money. More than any president before him.  That is not socialism, that is spending money to try to get the economy revived. There is no attempt in any way to vest control or ownership of anything whatsoever in the community as a whole by doing this.

     Let’s look to see if we can see any attempt here at creating or using socialism or socialist tendencies.  To do that we need to have the document at our disposal.  To read the entirety of the American Recovery and Reinvestment  Act of 2009, click here.

    uscurrency_federal_reserve   If you go through the document with an eye for detail you will notice a few things.  Any money, ANY MONEY AT ALL, given to any government entity, regardless of what that entity is, is answerable to the people, meaning that reports must be submitted and given publicly, where anyone can peruse them and find out what has been done with it, and must follow the laws of this nation.  Is there an element of control there? Absolutely, as it should be. The government is after all giving funds away for very specific reasons, and we want to make sure it is spent in such a way as we can see exactly what it being spent where.  But it is not used to control or vest anything within the government, it is used to help America  and Americans outside the government.   Egalitarian? Yes. Socialist? Not so much. 

     Example:  There are reports given every 45 days in the case of the secretary of the army using funds for the army corp of engineers (pgs 20-23).  Those reports must be made public and are given in such a way as we can make sure we know exactly where our money is going, in this particular case, flood control and building levies and the like.  No vesting ownership and control in the community as a whole in any way shape or form. The government controls the flow of money to aid citizens for their direct benefit, but there is no attempt to control the distribution of land here. Capital? Yes, but that capital is being used not to vest ownership and control, but to assist those who do have ownership and control of the land, I.E., the people who live there.

     This is just a small example of the type of spending within the bill and the way funds within it are allocated.  Another example follows.

      The Department of Education. “Education for the disadvantaged.”  (pg.67-70)You may dislike in general spending money, and specifically dislike this money going to this specific place,but there is nothing socialist here.  No attempt to control anything by the government here, it gives money to help poor people get a decent education.  No attempt to control social organization through use of funding.  It does not say any specific course must be taught.  That is up to the education system that gets the money itself, the local municipality, not the feds. 

      Even if there is federal statute involved.

    You may dislike this bill.  You may hate this President.  You may think liberals are evil.  You may think it irresponsible to spend like this.  You may think this president is going to destroy America.  You may dislike the fact there are people in this nation that think this type of spending is necessary, but there is one thing you cannot say.  That there are any socialist tendencies here.  There just aren’t, either in this bill or in this administration.  The reason i used this bill as an example is because this bill, I think, exemplifies the type of administration this President brings to America, and as such is representative of his ideas and ideals. 

     And if this isn’t Socialist, and it isn’t, you simply cannot call him a socialist and have the charge stick.  Egalitarian? Yes.  Socialist? Not so much.  A Video with Milton Friedman, talking to Phil Donahue in 1982, about capitalism.  He makes a point which I think our president would entirely agree, that capitalism is good.

    That’s it for me.  Catch ya later.

Today’s nuggets, via wikiquote:  As for me, I am deeply a democrat; this is why I am in no way a socialist. Democracy and socialism cannot go together. You can’t have it both ways… socialism is a new form of slavery.  Alexis De Tocqueville

It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages. Nobody but a beggar chooses to depend chiefly upon the benevolence of his fellow citizens.   Adam Smith

Anagram: I’d Much Rather/ Humid Charter

      I’d Much Rather be wrong while guided by my principles than right using someone else’s. 

       I have thought this particular thought a thousand times while conversing with a variety of people over the years for a variety of reasons.  Sometimes because I was struck with how wrong they were, how blind to what others have seen and gone through, sometimes because I’ve gotten the feeling that the person I was speaking to just seemed out of touch, or just plain stupid.  There is a reason I put this in here. Let’s watch together and listen to Tom DeLay, being…well…Tom DeLay.

     Tom is silly.  He seems to think that the Government doing it’s job is taking responsibility for your actions. Maybe it’s me, but it sounds to me like Tom really meant “Government wants to make my billionaire banker buddies more responsible for their actions and I don’t like that”.  He called the president a capstepshypocrite for finding  two trillion dollars to cut out of the budget, when he signed a bill that spends 787 billion dollars.  Yeah, because jump starting the economy when the entire crux of the move is to JUMP START THE ECONOMY is somehow hypocritical.  Yes i know he was going in a different direction then that, but It does not matter, The move was designed to help the economy, not Tom DeLay and his texas billionaire buddies.  He still seems to think that cutting taxes to the point of starving the government so his friends can make money by the shovel full regardless of the effect on the economy is a good thing. 

     Ya Know, looking back at that first sentence, it looks like Tom thinks the same thing.  The only issue is the man doesn’t actually have principles, he has partisan wants that he thinks are American, when they in actuality are the personification of greed, both on a personal and political level.

       I’d much rather vote while guided by my principles that pick a winner just because he looks like one. 

    Ken Mitchell looked for all the world like the person who would win the City Council seat here on Staten Island’s north shore.  But i decided to read what each of the candidates had in mind.  After reading the thoughts and ideas of several people running in a special election yesterday, I picked the apparently almost entirely unheard of Donald Pagano.  Of the slightly more than 10,000 people who voted yesterday, I was one of 383 people who voted for this man.  3% of the people voted for him.  Ken Mitchell, who garnered 40% of the vote, looks to have won the race by 241 votes, but the second place finisher Debi Rose who got 38%, (whom i almost voted for) refuses to concede.

    Most everyone in this race talked of transportation, health care, and education. The thing that pushed me to vote for Mister Pagano is that he is the only one who spoke of getting a state funded hospital for Staten Island, the only borough in the city of New York without one.  The other major candidates did not speak to this issue. As a matter of fact, it was Debi Rose’s lack of any coherent plan on this front that pushed me away from voting for her. 

    I could have voted for either of these two, but went with who I thought was the best candidate.  He lsot and that sucks, but I’m glad i gave him my vote.  I’d frankly like to see whoever is declared the winner take up the fight for a state funded hospital here on Staten Island.

    I’d much rather not watch the Financial markets fall apart. I don’t think I’m alone here. 

     I was looking at the plan for the stress tests for the Banks today.  For those who don’t know, part of the test is as follows.  Put the banks books through the following test.  The test will see how the banks will respond if the Nation’s GDP losses 2% this year and recovers that 2% next year.  

   chicklet-currency  Wow.  That seems very optimistic. If this is the stress test, it would, to my mind be a mess to use this, due to extreme and undue optimism of viewpoint not borne out by current trends.  Most people’s projections up to this point have been badly off.  No one, at the beginning of last year, thought we would be where we are now.   No one thought the market would be near 7,000.  Most projections I saw from that point saw a  DJIA nearer to 11 or 12 thousand for end of 2008.  No one thought unemployment would be over 7%.  No one thought we would see a run on money market accounts to the tune of ½ trillion dollars in one day last September. 

      Now, to be truthful, I simply do not have enough information to know whether the banks stress test numbers are realistic projections, or if it is hopelessly optimistic, or what.  Luckily, there is a second test which takes a more negative tack, with a loss of 3.3% of GDP this year and little to no recovery of that next year.   The tests should be as negative as possible, to make sure we aren’t setting them up for failure due to an unrealistic optimism for our future.  Negative viewpoints here can help to point out who is weaker than they think.  If you asked each of these banks, they would tell you they are fine….right until they implode.  Why do you think so many banks have had to be taken over this year, because they are doing well?  They were weaker than they let on, and we the people, through the auspices of the Treasury department, need to make sure that the Bigger banks won’t do the same. 

     OK. Id’ much rather go hang out with my wife.  Just a quick Viddy a few quotes and I’m done, and I can go hang. 

     Bill Isaac, President of the Financial consulting company Secura Group and former FDIC Chairman, talking about Stress Tests on Bloomberg tv this morning.

     That’s it for me. Later!

Today’s Nuggets, by Robert A. Heinlein, Via Wikiquote:   Political tags — such as royalist, communist, democrat, populist, fascist, liberal, conservative, and so forth — are never basic criteria. The human race divides politically into those who want people to be controlled and those who have no such desire. The former are idealists acting from highest motives for the greatest good of the greatest number. The latter are surly curmudgeons, suspicious and lacking in altruism. But they are more comfortable neighbors than the other sort. 

Taxes are not levied for the benefit of the taxed.