Dave R. on November 19, 2009 at 7:21 PM

Bleeds Blue is fugly stidiot!

But, but, but, Bleeds Blue told us the economy was recovering.

rbj on November 19, 2009 at 9:42 AM

Bleeds Blue is to stoopid even to be a useful idiot.

-Which is why he is a useless idiot.

2010 is shaping up to be an exceptionally ugly year economically; let’s just hope the Stupid Party can pin the blame where it belongs, instead of getting it pinned on them.

/s

UnderstandingisPower on November 19, 2009 at 12:11 PM

Shockingly accurate.

DrW on November 19, 2009 at 11:37 AM

You are assuming that people are able to handle the additional debt load. Programs that encourage activity that would not normally be encouraged by natural economic forces will always cause a bubble effect. And when any borrow-spend program ends, the artificial incentives go, the debt remains (robbing the economy of investment assets) and the market makes a correction. You end up with no measurable gain, increased debt and abnormal decisions that will result in some degree of reality backlash.

More people are “unexpectedly” unemployed OVER THE LAST 10 MONTHS.

And “unexpectedly” Bozo announced that his “job summit” isn’t actually about fixing unemployment. (Rush spoke about this yesterday)

Joe Biden is still saying porkulus is working BETTER than “expected”

But the dems are pushing a jobs bill they hope to vote on in December. Thats sorta “unexpected” since that was what they claimed porkulus was for.

This so called messiah is better described as a destroyer.

Remember that Eastasia/Eurasia quote from 1984 we’re always using? Well, here’s a better one:

Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones. As for the third message, it referred to a very simple error which could be set right in a couple of minutes. As short a time ago as February, the Ministry of Plenty had issued a promise (a ‘categorical pledge’ were the official words) that there would be no reduction of the chocolate ration during 1984. Actually, as Winston was aware, the chocolate ration was to be reduced from thirty grammes to twenty at the end of the present week. All that was needed was to substitute for the original promise a warning that it would probably be necessary to reduce the ration at some time in April…

But actually, he thought as he re-adjusted the Ministry of Plenty’s figures, it was not even forgery. It was merely the substitution of one piece of nonsense for another. Most of the material that you were dealing with had no connexion with anything in the real world, not even the kind of connexion that is contained in a direct lie. Statistics were just as much a fantasy in their original version as in their rectified version. A great deal of the time you were expected to make them up out of your head. For example, the Ministry of Plenty’s forecast had estimated the output of boots for the quarter at one-hundred-and-forty-five million pairs. The actual output was given as sixty-two millions. Winston, however, in rewriting the forecast, marked the figure down to fifty-seven millions, so as to allow for the usual claim that the quota had been overfulfilled. In any case, sixty-two millions was no nearer the truth than fifty-seven millions, or than one-hundred-and-forty-five millions. Very likely no boots had been produced at all. Likelier still, nobody knew how many had been produced, much less cared. All one knew was that every quarter astronomical numbers of boots were produced on paper, while perhaps half the population of Oceania went barefoot. And so it was with every class of recorded fact, great or small. Everything faded away into a shadow-world in which, finally, even the date of the year had become uncertain.

We’re living in 1984!

From Robert Heinlein’s “The Door into Summer”

unclesmrgol on November 19, 2009 at 11:31 AM

TANSTAAFL bump!!

A month ago, on this blog, I floated the idea of extending the tax credit and expanding it to move-up buyers. I got zero positve feedback other than numerous anti-subsidy insults hurled in my directon.

Finally, there are lots and lots of buyers who wanted to buy homes this Fall but the logistics of getting a signed purchase agreement prevented it. Short Sellers banks take months to respond to offers, and this bottlenecks many ready and willing buyers. The next few quarters will remain relatively strong in terms of housing sales..bank on it.

The job I found was crushing new ground limousines so that they could be shipped back to Pittsburgh as scrap. Cadillacs, Chryslers, Eisenhowers, Lincolns—all sort of great big, new powerful turbobuggies without a kilometer on their clocks. Drive ‘em between the jaws, then crunch! smash! crash!—scrap iron for blast furnaces.

It hurt me at first since I was riding the ways to work and didn’t own so much as a Grav-Jumper. I expressed my opinion of it almost lost my job . . . until the shift boss remembered I was a Sleeper and really didn’t understand.

“It’s a simple matter of economics, son. These are surplus cars the government has accepted as security against price-support loans. They’re two years old now and can never be sold . . . so the government junks them and sells them back to the steel industry.

From Robert Heinlein’s “The Door into Summer”

BadgerHawk on November 19, 2009 at 10:54 AM
Mt professors were all Keynesian (save one)… but when I was able to question specific “assumptions” they were making in class, they would often concede the point. No genius on my part… the laws of the market work… unless you have an agenda.

mankai on November 19, 2009 at 11:04 AM

I miss Milton Friedman. Reagan listened to him… things got fixed instead of holes dug deeper.

Amateurs surprised by………

In other news, “lagging indicator” unemployment continues to get laggier.

eeyore on November 19, 2009 at 11:02 AM

“Indicators” … plural.

Housing starts, employment figures, auto sales, inflation, consumer confidence, investment rates, gold prices… are all “lagging”… we know that since the recession was declared OVER back in June.

BadgerHawk on November 19, 2009 at 10:54 AM

Mt professors were all Keynesian (save one)… but when I was able to question specific “assumptions” they were making in class, they would often concede the point. No genius on my part… the laws of the market work… unless you have an agenda.