Posts tagged ‘Paul Krugman’

May 18, 2013

The DC Folly Trolley – 05/18/13

Really Bad News.

Want to hear some really bad news? The deficit is dwindling. Yes, that’s right, the deficit is falling. It will probably be less than 5% of GDP this year and a whole lot less than that next year, according to Paul Krugman.

http://krugman.blogs.nytimes.com/2013/05/08/the-dwindling-deficit/?smid=tw-NytimesKrugman&seid=auto

English: "Paul Krugman lectured on "...

English: “Paul Krugman lectured on “After Bush – The End of the Neo-Conservatives and the Moment for the Democrats” to over 500 guests in the jam-packed big lecture hall at the German National Library in Frankfurt” (Photo credit: Wikipedia)

Barons von Simpson and von Bowles are in a tizzy. It’s been more than two years now since the two predicted the nation’s economy would implode in two years.

Well, it’s still going and the two aristocrats are still waiting for the fateful event and growing angrier by the minute that economic destruction isn’t happening the way they predicted.

Von Simpson is reported to have done a Rumpelstiltskin, pounding the floor so hard that he opened a hole and fell through.

And von Bowles, whose shouts set off alarms in the corporate media heard round the world, is said to be cooped up in his fancy digs attending only board gigs for which he receives a quarter of a million dollars, his voice now a veritable peep.

bowles

Erskine Bowles, as President of the University of North Carolina, signs an agreement with two generals of the U.S. Marine Corps. Bowles is a two time loser in campaigns for Senator from North Carolina. This loser’s political corpse has been repeatedly resurrected by President Obama each and every time he invokes the failed Cat Food Commission headed by Bowles and crotchety old geezer Alan Simpson.

In fact, if it were not for President Obama, in full Lazarus mode, repeatedly raising from the dead the failed Cat Food Commission headed by the two barons, Simpson and Bowles would have been cast long ago into history’s garbage dump.

Sadly for these Aesop weavers of economic fables, only a tiny elite still believe the fairy tales. And for these dogmatists, still mesmerized by the Pied Pipers of the Obama Cat Food Commission, the news is just as disheartening.

And so they pray to the gods von Simpson and von Bowles. “Oh, great soothsayers of economic calamity, here our pleadings and bring upon us the deficit doom we so fervently need to support our austerity dogma.”

But, alas, the news is all bad. The deficit is declining.

***

Stick ’em Up, Yee Lowly Varmint.

Five schools in the Pennsylvania State Higher Education System will allow students to carry guns on campus.

Kutztown, Shippensburg, Edinboro, Slippery Rock and Millersville University have concurred with the advice of an attorney that prohibiting guns on campus may be a violation of the state’s constitution.

In keeping with this advice the schools are instituting a Billy the Kid Curriculum to teach students when and how to use firearms, the art of the quick draw and rigging a holster to win in a shootout. Proper dueling etiquette will be a required three credit course for students who wish to complete the degree.

According to an administration official, the goal of the program will be to teach students how to survive in a fully armed society.

http://www.huffingtonpost.com/2013/05/11/guns-in-schools_n_3258786.html

***

Jumping On The IRS.

Sarah Palin, the sage who can see Russia from her front porch if she stands on her tippy, tippy toes (well, she does live in Alaska and it’s only a hop, skip and a very cold swim across the Bering Strait to Siberia so maybe on a clear day, who knows) has accused the IRS of scrutinizing the affairs of right wing think tanks (oxymoron alert) in an effort to help President Obama get reelected.

sarah

Do you think my mouth is too big?

Not that Obama needed a whole lot of help to defeat the incredibly forgettable Mr. 47% what’s his name. Nevertheless, the IRS did check out groups whose names contained the words “tea party” or “patriot.”

It should all come to naught though. You see, tax laws are so rigged that almost any political group that supports one of the two major parties can get a tax exemption on a crooked politicians say so. And you know how many of those there are in Follyland alone.

Anyway, last year’s winner of The Schmuckup Prize in Geography for knowing where Africa is located (even though she needed two tries); former Miss Alaska and, if memory serves, a former governor, complained in her Facebook page that her best “tea party” buds were being unfairly treated by the IRS because it audited the organizations.

You’d think they were members of the 99% who, in case you’re wondering, are subjected to most of the audit notices.

The solution to this non-problem: Tax political contributions.

***

Bachmann Calls For Day Of Prayer.

Michele Bachmann called for a National Day of Prayer and Fasting to commemorate the 9/11 attacks and the Benghazi affair, which also occurred on 9/11.

Guess Michele isn’t getting much face time in the news these days. She must be suffering from Bachmann Attention Deficit Syndrome (BADS).

bach

Not to worry.  Michele always has something up her sneaky sleeve.  A good way to rouse up the boys and girls in the corporate media is to call for prayer. That always gets their attention: A nice, safe non-news story splashed around the flat screen and the net can bring a reporter fame and fortune; and Bachmann some desperately needed relief from the BADS.

Not that we really need a day of prayer and fasting.  We can pray any time we want.  And fasting!  McDonald’s would have a canniption (and I’m not talkin’ beer here or pale ale for that matter). I mean no food for a day.  

Holy pepperoni pizza, Batman.  Do we really have to fast for a day to get Michele out of the BADS?

Hang on to your cape, Robin.  Do like me.  I plan to give up liver.

***

Bacsheesh For Obamacare.

Orrin Hatch is right. Grubbing for bucks to implement Obamacare is absurd.

But that’s exactly what Health and Human Services Secretary Kathleen Sebelius is doing: Making phone calls to big business to drum up payola for Obamacare.

kath

Kathleen Sebelius – on the prowl for big spenders.  Meow.

Why any business should ante up is beyond me, except perhaps for some future political payoff. But then they’ve already got that covered.

Let’s face it, businesses don’t want to pay for health care. Health insurance companies don’t want to pay for health care.

Would that they would all get out of the field and leave us to our own devices.

The only thing worse than the current system is no system at all.

Unfortunately Obamacare does little to solve the real crisis in health care, unaffordable costs for all.  And it just keeps getting worse..

April 28, 2013

The DC Folly Trolley – 04/28/13

Attendance Overwhelms Committee Hearing.

Congressional members rushed to fill the room set aside for the special meeting of the Joint Economic Committee scheduled by Chairwoman Amy Klobuchar. The committee was slated to address the greatest unemployment crisis since the Great Depression.

A spokesman for Klobuchar said the chairwoman was gratified that so many of the committee of 20 attended the hearing that seating arrangements were inadequate as janitors failed to provide enough chairs for the attendees.

CASEY

Sen. Pat Toomey (R-PA), a member of the committee who failed to attend the hearing, stated that the solution to unemployment is employment.

Fully four members attended the special meeting and janitors, who provided only three chairs, were forced to scour the Capitol building to scrounge up an additional seat to accommodate the unexpected crowd.

One of the four attendees, all Democrats, suggested a game of musical chairs to determine which members would be forced to stand during the hearing in the event janitors were unable to procure an additional seat.

Currently, 4.7 million workers are considered long-term unemployed and due to sequestration and cuts at the state level funding for benefits has been drastically reduced.

The overwhelming attendance at the hearing underscores the concern members of Congress feel about the unemployment crisis.

***

The Naked Elite.

Austerians are finally proven beyond doubt to be wrong in their assumption that reductions in government spending are the only path to economic prosperity.

Well, let’s just think about this idea for a minute. Are austerians really so stupid that they believed the nonsense to which they were subjecting the world economy. Of course not. Austerians were never concerned about an economic theory being right or wrong. They were chasing and catching profit by making their subjects suffer.

Austerians have gained many billions of dollars of wealth by forcing their flawed economic ideas on the world’s economies. Need proof. Just check the stock market results for the last few years and you realize that profits have reached all time highs with most of the gains going to the austerians. And gains from increased productivity were redistributed upward for a second momentous profit infusion.

And just who are these austerians? Why they are the world’s 1%, the elite, the masters of the planet.

For this tiniest of minorities to increase their wealth, the rest must suffer. So the vast upward redistribution of wealth that has occurred since the beginning of the Great Recession was the result of the exploitation of the 99%.

It has been shown time and again that these self-appointed emperors of the world have no clothes. They are as naked as their failed economic theory. But fashion was never the point. At the core of their belief was none other than pure, garden variety greed.

A prominent accessory to the avarice of the emperors is none other than Angela (pronounced with a hard “g” as in goofy) Merkel, the Austerian Empress and German chancellor, who will soon inherit the title “the Iron Lady” what with the recent passing of the now infamous Margaret Thatcher.

Silent of late, this Austerian Empress will no doubt reinforce her determination to impose further reductions in government spending on depressed European economies even though the policies she has advocated have catapulted the entire Eurozone into a second deep recession.

Yes, the Empress has no clothes and stands naked before the world. Yet she will persist in foisting upon vast stretches of the European landscape the flawed, failed policies of austerity.

angela 2

The Empress has no clothes. Only a bright idea turned to dull-witted lie remains.  (The real painting is by Eugene Emmanual Amaury Duval 1808-1885.  Wikimedia).  

And why not? After all, greed is at the core of the belief. And greed is paying off handsome rewards for the 1%.

***

Bank Check Ping-Pong.

Ever bounced a check. Chances are it cost you 50, 60, maybe 70 bucks.

Not so when a bank bounces a check.

What! Banks never bounce checks, you say. Fuggetaboutit.

Victims of fraudulent foreclosure are learning otherwise.

Apparently, the checks by banks that wrongfully foreclosed on homeowners are not only woefully inadequate. But the ping-pong back and forth between other banks.

Here’s how it happens. You see, banks have to follow rules when issuing checks intended to compensate victims for bad bank behavior. I know, banks following rules is an oxymoron because banks don’t follow rules even when there are rules that banks are obligated to follow.

Pagagraph 2 When a bank issues such a check is must contact something called Rust Consulting. Rust Consulting is the private, profit making firm contracted by the government to verify that the checks are clearing. Now the banks obligated to pay victims of bad bank behavior, don’t actually issue the foreclosure compensation checks as you might logically expect they would do.

Paragraph 3. The bank that issues the check is one Hamilton National Bank, the bank that gets the foreclosure compensation check from the Bank of Bad Behavior. Hamilton Bank, in far too many cases, has been unable to verify the validity of the checks, puny to begin with, and so the checks can’t be cashed.

Are we clear?

Well, here’s the rest of the story. You may think that government handling something as simple as compensating victims of fraudulent foreclosure is so grossly inefficient that it should be drastically curtailed.

Not quite right. You see, each step outlined above is a profit making opportunity for the companies involved. You should properly say that government is so grossly corrupt that corrupt government should be sharply curtailed.

Now that would be correct. Of course, it ain’t gonna happen.

***

While I was reading The Bible, I tried to highlight all the good parts. Then my highlighter went dry.

***

Recipe For Cat Food High.

From the Obama-Pelosi Cat Food Cook Book comes this nourishing recipe.

One cup of dried cat food.

Half cup of milk made from dry milk.

Ten homegrown and dried marijuana leaves.

Two ounces homegrown dried thyme.

Mix in mortar and pestle.

Add two jiggers of rum stolen from a liquor store.

Heat outdoors over wood fire until crisp.

Makes three servings.

maja

Ever notice that no one cares that hemp makes a sturdy rope.

.

A gal would constantly hum
In her garden-she had a green thumb.
She did it while nude
But it started a feud.
Among guys who got drunk on cheap rum.
.
In her garden the weed that she grew
She’d often times put in a stew
She shared it with Harry
The beau she would marry.
So served to poor Harry both stew and a screw.