The DC Folly Trolley

The JPMorgan Chase fiasco highlights the gullibility of Bill Clinton who swooned over the deregulation scams engineered by the notorious Senator Phil Gramm and supported by his ill-advised appointments of deregulation addicts Robert Rubin and Larry Summers to Treasury.

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Dimons are the Streets best friend.

File:Hope Diamond.jpg

The Hope Diamond, a gem worth more than the Jamie (Courtesy of David Bjorgen).

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Masking tape alert!  Mitt Romney said something to the effect that young people don’t understand the workings of banks.  Not a good thing to say during an election year since a lot of young people vote.  Evidently someone in the Romney campaign forgot the masking tape and Mitt was able to open his mouth – again.

Jeez, can’t they just get the guy to read from a teleprompter.

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JPMorgan Chase just invented a new derivative.  It’s called the Jamie.  You buy and it loses $2 billion dollars.

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The Woolworth Building built in the days when high finance could still work for the good of the people. (Photo courtesy of Derek Jensen (Tysto).

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Speaking of Clinton and swooning, too many Democrats still gush adoringly over this millionaires’ best friend.

William Jefferson Clinton – otherwise known as Wild Willy – was a guest once again at the Peter G. Peterson Foundation’s Fiscal Summit in Follyland.  Clinton, a backstabbing Democrat who has been a right wing extremist on economic policy at least for two decades is, as always, happy to rub elbows with his fellow multimillionaires.

Wild Willy, the man with the fastest zipper ever to occupy the White House, long ago turned his back on his fellow working class Democrats.

File:Bill Clinton 1995 im Parlament in London.jpg

Why these middle class workers still pay homage to this brazen turncoat is a mystery of unfathomable proportions.  He is the president who signed off on NAFTA, the disastrous deregulation agreements and, except for his zipper problem, would have made a deal with then Speaker Newt Gingrich that might well have opened the floodgates to the demise of Social Security.  He, in the person of his chief of staff, the aristocrat Erskine Bowles, was open to the idea of cuts to the Democrats’ most revered program and was set to open negotiations with the Speaker.  Then along came Monica who performed a service for which we all owe her a huge debt of gratitude.  She should only know.

And, by the way, Clinton defiantly bragged to his fellow millionaires that he wanted to cut Social Security by 10%.  He was, however, prevented from doing so by a coalition of Democrats and some rational Republicans (I know it’s hard to believe, but there was a time long, long ago when such a thing as a rational Republican actually existed on the planet.  Archaeologists have found fossil evidence to support this theory).

For all of these reasons, the Clinton presidency should be viewed as the miserable failure it was for working Americans.

Clinton points to the strong economic growth that occurred during the years when he occupied the Oval Office as his legacy.  But anyone could have been there and the same growth would have ensued.  Clinton simply got lucky.  The boom in telecommunications and information technology would have happened whether Clinton was in office or whether his pants were up or down.  And the tech bubble, which burst before he left office, also contributed to the false sense of prosperity that occurred when he just happened to be in the right place at the right time.

It’s time for honest Democrats to recognize this quisling for what he has always been – a right wing conservative on economic issues and a millionaire’s best pal.

Where would I place this so-called Democrat among a ranking of Democratic presidents?  Well, I guess somewhere above James Buchanan.  I guess.

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Earlier in the week, Mitt Romney said the economy should be creating 500,000 jobs a month.  I say it should be creating a million jobs a month.  Neither of us knows what the hell we’re talking about so I guess that makes me a better bullshitter than Romney.  And that’s not an easy thing to do.

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California is set to win the JPMorgan Chase Challenge for money losers.  That’s gotta be worth something.

Gov. Jerry Brown announced the state’s debt has risen to something in the neighborhood of $16 billion dollars.

So how’s all that job outsourcing working for ya?

The state government has hundreds of departments – all of which provide good jobs for millions of residents.

The jobs created by these departments are probably among the few remaining good paying jobs in the state.

Now here’s a thought.  If the state would just outsource all of the jobs created by the government or just eliminate them outright, the departments could be consolidated into just three:

The California Department to Feed the Hungry

The California Department to Clothe the Naked

The California Department to Shelter the Homeless

That last department wouldn’t be needed in the warmer parts of the state.  People could just live and die in the streets.

The point here is when private enterprise abandons its people out of malicious greed the people then must depend on its government for a livelihood.  And the people’s government must recoup the tax base it so casually gave away to pay for worthwhile services.

Instead, what we are witnessing is government abandoning its people by eliminating jobs and aggravating an already intense depression.

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Too many North Carolinians hate government because it spends too much money – mostly on better wages and benefits for workers.  The wages and benefits are much better than those received by workers in the private sector, for example.  Yet instead of advocating for better conditions in private industry, great numbers of North Carolinians vote to degrade conditions for government employees – in fact they’re quite satisfied that many are simply getting fired.  Schadenfreude anyone?

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Scientists have discovered a fungus in the Amazon rainforest that can live on polyurethane.  Apparently it eats, digests and then degrades the product into its basic elements.  I guess that’s a good thing.  Now if they could only find a fungus that degrades Styrofoam; it takes planet Earth a million years to perform that function – give or take a millennium.

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According to the Wisconsin State Journal, the state is leading the country in the percentage of – say what!!!!! – job losses!!!!!  How can that be?  Gov. Scott Walker gave businesses tens of millions of dollars in tax cuts.  Weren’t the cuts supposed to create jobs?

Guess all those tax cuts aren’t working out so well.  At least not for the average worker.  Guess what Scottie really wanted was two yachts in every rich man’s garage – paid for by cuts in public sector jobs.

But private sector jobs declined as well.  Musta had all those yachts built in foreign countries, right Scottie.

So how’s all that deregulated free enterprise working out for ya?

What’s really astounding, though, is that Walker leads his opponent in the recall race by six points according to some polls.

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At least half the state loves those tax cuts for rich people.  As for the rest, well, let them eat rice.  It’s good for ya.

Wisconsin job losses highest in nation for last 12 months, federal report says

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The F-35 joint strike fighter is turning out to be private enterprise’s biggest taxpayer rip-off in the history of taxpayer rip-offs.  Yes, even bigger than the big bank bailout rip-off.

The entire program is estimated to cost about $1.5 trillion dollars.  But it will probably cost more.  They can’t seem to get the thing to work right.  It keeps killing pilots.  Not to worry though.  A few multi-billion dollar tweaks here and there and the plane should fly – and stop killing pilots.

 File:Aichi Val DF-ST-91-10602.JPEG

A replica of a World War II Japanese aircraft – a plane that flies.

So who do we blame for this multi-trillion dollar boondoggle:  The government or private enterprise?  Should we blame Lockheed Martin – the manufacturer of this not quite ready to fly trillion dollar death trap?  Or the government that bought into the scam?

If it was up to me, I would tell Lockheed Martin to go fly a kite.  If it didn’t cost a billion dollars to get them to build one, that is.

The F-35 Joint Strike Fighter, the Most Expensive Weapon Ever

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5 Comments to “The DC Folly Trolley”

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