MF Global: Wall Street Fraud Extends Down To The Farm.
The amount of customer money missing from the collapsed trading firm MF Global may be more than $1.2 billion — double previous estimates — the trustee dismantling the firm’s brokerage unit said on Monday. (HT: Dealbook.com) MF Global blew up like the HMS Hood and took $1.2 Bn in customer funds down to Davy Jones’ Locker along with it. The Chicago Mercantile Exchange now has | Read More »
#OWS! (Unless it’s Wall Street DEMOCRAT Jon Corzine stealing the $M600).
Jon Corzine’s MF Global is missing $600 million of customer money, and the bankruptcy trustee has no idea when it might be found or when investors might be paid back, if ever. The New York Times today says that the investigation points to the conclusion that the firm simply misappropriated (that is, stole) customer money to back up failing bets on the distressed bonds of | Read More »
Congress, Guns N’ Roses and Deficit Spending
I used ta do a little but a little wouldn’t do it So the little got more and more I just keep tryin’ ta get a little better Said the little better than before Guns N’ Roses
Chelsea Clinton and the Travails of the Undeserving 1%
In another win for the famously blind meritocracy that rules American life, rewarding the ultra-talented and pushing the less brilliant and skilled into the outer darkness, Chelsea Clinton has landed a coveted position at NBC News. This was almost as much a surprise as her admission to Stanford… – Walter Russell Mead Via Meadia I hope that the #OWSers, those mighty progressive warriors, those fine | Read More »
The Calculus of Deficit Spending
Mathematicians often rely on the old saw that a picture is worth a thousand words. The picture displayed above is Coyote Morning Ugly. Christopher Rupe and Nathan Martin of EconomicEdge.Com have examined the marginal utility of America’s continued deficit spending over time. Quite simply put, each year’s deficit spending produces less present value per dollar spent.
Another Argument For Smaller Government: Let’s Make Amerika The Good-Guys Again
“We’ve been a little bit lazy over the last couple of decades. We’ve kind of taken for granted — ‘Well, people would want to come here’ — and we aren’t out there hungry, selling America and trying to attract new businesses into America.” – President Barack H. Obama fires up the troops. (Ht: Brietbart.com)
The Fallen Men of A Failing Nation
“The young bloods of the South; sons of planters, lawyers about towns, good billiard players and sportsmen, men who never did any work and never will. War suits them. They are splendid riders, first rate shots and utterly reckless. These men must all be killed or employed by us before we can hope for peace.” – General Sherman (HT:Rootsweb.com) The GOP not only has an | Read More »
The China Syndrome Amongst The Progressive Left
A great number of America’s modern leaders are dangerously ignorant with respect to China. In between the bimbo eruptions, GOP Candidate Herman Cain took a few minutes out of his busy day to remind how a GOP foreign policy gaffe by Gerald Ford helped convince America’s voters to pull the lever for Jimmy Carter. Gerald Ford famously insisted that Poland in 1976, wasn’t militarily occupied | Read More »
#OWS Turns A Corner In The Latest Quinnipiac Poll
Quinnipiac has polled the American people about Occupy Wall Street. The numbers are not what Adbusters would have hoped for. Thirty percent overall view them favorably, 39% wish to see the occupation ended. 31% wanted to know when LSU vs. Alabama kicks off.
Beware The Greeks Bearing Votes
Brett Stevens of Amerika.org theorized that human societies can have two forms of culture; Managerial and Organic. He describes these two options below. • Managerial. Like attending a job, days at an American high school or going to a mall, the managerial state consists of people who have nothing in common except wanting to make money and not get murdered. As a result, a strong | Read More »
Rick Perry Thinks Forward On Affordable Education. Barack Obama Poses For A Photo-Op.
A fully accredited college education for the price of a Honda Civic. College? Don’t pay $50,000 for three years, and then your kid drops out. College? Pay for your child’s education, not four years of party time. Wal-Mart University: Save Money. Learn Better. – Gary North. America has an increasingly bad problem with its University system. It costs too much to attend, and the graduates | Read More »
A Halloween Question: Who Is Afraid of Seven Billion People?
4 Like arrows in the hands of a warrior are children born in one’s youth. 5 Blessed is the man whose quiver is full of them. – 127th Psalm (4,5) (HT:Biblegateway.com) I came home a little late from my morning jog this morning and later slammed down that cup of morning coffee before rushing out the door to work. As I drank, I watched a | Read More »
Europe Kicks The Can; Buying Time With Borrowed Money
“No one should take for it for granted that there will be peace and affluence in Europe in the next half century,” Chancellor Merkel. (HT:CNBC) Ka-Blam! The Eurozone is saved. They’ve found just the right drug cocktail of financial bailouts. The markets are all a screaming buy!1!1.(/sarcasm off) If only this were the truth. The reality here is that the Europeans will destroy a bunch | Read More »
You Can’t Rely On American Cars Because American Car Makers Rely On Bailouts
The Consumer Reports Company just rated the reliability of 28 makes of automobile from around the world. No American car manufacturer scored better than 13th in ordinal ranking. Ranked on a Lickert Scale from 1 to 5, Jeep, the best American competitor, scores approximately 3.0. No American car does better than average at staying in one piece. This raises a fair question: did we really | Read More »
Time And Reality Are Rhode Island’s Deadly Enemies
Time waits for no one, no favours has he Time waits for no one, and he won’t wait for me – The Rolling Stones (HT:Sing365.com) If mathematics were as linear as the passage of time, Rhode Island would have a public pension inconvenience. This sadly does not hold true. Interest on borrowed money increases debt in an exponential fashion. The promises made to older working | Read More »