'If Citibank steals some 700 million dollars, why does it only have to pay 160 million back?'
Well, hot-damn, ya'll! If that's the case, under the Citibank Rule, OS should give up his honest attempts at labor, and start sticking up local convenience stores, liquor stores, and jewelry shops! He gets to keep everything, except for 23%! Such a deal!! He doesn't even have to admit to any wrongdoing, and he always walks out to make it home by dark.
So, what's wrong with this logic?
(HT Mish)
Thursday, November 10, 2011
Wednesday, November 9, 2011
OS at Midweek 9 November
Other and better minds than OS are covering the comic opera of Europe in breathless detail. In summation, though, the consensus is: They're screwed. We're screwed, maybe, as well.
It reminds of OS of those ensemble scenes in Mozart's Marriage of Figaro, where everyone simultaneously sings to the audience while the orchestra grinds away, each proclaiming his/her own side of the story; but not one of the characters will actually bother to tell one another the truth of who they are and what they're attempting to accomplish.
Chaos ensues, comic chaos in Mozart's opera, something less amusing in real life today.
It isn't like this obvious sort of unraveling wasn't something unexpected. After all, if government debt is 120% of GDP (Italy referenced here), and yields climb above 7%, well then, you're screwed. The students can riot in the streets, the unions can strike, the religious fanatics can preach, the politicians can speechify forever. The math is the math is the math--it is inexorable.
They're screwed.
Enough about that. We now get to witness the proverbial other shoe drop in our generation, and wonder what will arise to take hold of the situation. And how much of the bill we here on Main Street will foot for the great welfare state experiment of post-1945 Europe.
Closer to home, this has been one of those weeks, one in which OS notices that it has become increasingly laborious to get simple stuff of life done. The firms he has encountered this week, in different industries, all seem to suffer from 'too much work/too few employees' syndrome, or 'internal conflicts of interest' syndrome, or 'failure to think ahead' syndrome, or 'failure to think pragmatically' syndrome.
It's been frustrating. Yesterday afternoon, OS just had to take a break and go for a walk, to calm down. He called a couple of friends who helped restore perspective. It's good to have friends.
Today, he's back in harness, pulling his load into the stiff headwind of the culture of the United States.
No great insights to lend, no news to report, no scandals to incite. OS is simply tired.
One bright spot however, comes from BBC Radio 3 this week. The Choral Evensong from Ely Cathedral was glorious this morning. The broadcast repeats Sunday afternoon, and then in podcast for a week after that.
It reminds of OS of those ensemble scenes in Mozart's Marriage of Figaro, where everyone simultaneously sings to the audience while the orchestra grinds away, each proclaiming his/her own side of the story; but not one of the characters will actually bother to tell one another the truth of who they are and what they're attempting to accomplish.
Chaos ensues, comic chaos in Mozart's opera, something less amusing in real life today.
It isn't like this obvious sort of unraveling wasn't something unexpected. After all, if government debt is 120% of GDP (Italy referenced here), and yields climb above 7%, well then, you're screwed. The students can riot in the streets, the unions can strike, the religious fanatics can preach, the politicians can speechify forever. The math is the math is the math--it is inexorable.
They're screwed.
Enough about that. We now get to witness the proverbial other shoe drop in our generation, and wonder what will arise to take hold of the situation. And how much of the bill we here on Main Street will foot for the great welfare state experiment of post-1945 Europe.
Closer to home, this has been one of those weeks, one in which OS notices that it has become increasingly laborious to get simple stuff of life done. The firms he has encountered this week, in different industries, all seem to suffer from 'too much work/too few employees' syndrome, or 'internal conflicts of interest' syndrome, or 'failure to think ahead' syndrome, or 'failure to think pragmatically' syndrome.
It's been frustrating. Yesterday afternoon, OS just had to take a break and go for a walk, to calm down. He called a couple of friends who helped restore perspective. It's good to have friends.
Today, he's back in harness, pulling his load into the stiff headwind of the culture of the United States.
No great insights to lend, no news to report, no scandals to incite. OS is simply tired.
One bright spot however, comes from BBC Radio 3 this week. The Choral Evensong from Ely Cathedral was glorious this morning. The broadcast repeats Sunday afternoon, and then in podcast for a week after that.
Sunday, November 6, 2011
Papandreou Resigns: Gulfstream Warming Up On The Tarmac
Having won a vote of confidence, he finally admits that things have spun out of control, and he's getting of Dodge while he can, before anyone notices the missing bullion stowed in his luggage.
A quick stop-off in Zurich to lighten the luggage, and thence to the manse in Scotland, away from prying eyes.
Remember, ya'll. ThePeopleInChargeOfSuchThings have been assuring us allllll along that they have the situation firmly in hand.
Nothing to see here, move along. Ball games to enjoy, Dancing With The Stars to follow.
A quick stop-off in Zurich to lighten the luggage, and thence to the manse in Scotland, away from prying eyes.
Remember, ya'll. ThePeopleInChargeOfSuchThings have been assuring us allllll along that they have the situation firmly in hand.
Nothing to see here, move along. Ball games to enjoy, Dancing With The Stars to follow.
Thursday, November 3, 2011
The Herman Cain Dust-Up: A Couple Of Additional Questions
ABC News asks a cogent question: Who, exactly, are Cain's accusers?
Another good one is: Where are they? After all, if we are to be about the business of tarnishing the reputation of a public person, seems that going public would be the thing to do. A good rule of thumb would be: If'n yew don't wantcher pictcher in the paper or alllllll over the internet, don't deliberately say and do stuff that creates media interest. Sorta' like, don't cover yerrself in hunney and walk into a big anthill.
So, here we are, with the wheels coming off Europe, riots ginning up in California, the professors of Southern Illinois University on strike (Really, ya'll! Why do folks with tenure go on strike?), another trading firm gone tits-up with 700 million of the clients' dollars missing, run by one of Obama's ardent supporters (Jon Corzine, former senator, former governor of New Jersey), large swaths of the Middle East in chaos, Iran working on a nuke--so let's spend our time obsessing about....drumroll please/the envelope please....what Herman Cain did or didn't do in the 1990's (the age of, ummm, Bill Clinton).
Hmmm....
So, OS has another question or two as he scratches hiz ole' grey head in puzzlement: Let's assume, fer the sake of argumint, that all those tarrrible thangs they sayin' 'bout Herman iz true! Does it disqualify him from running or taking office? Really?
Remember the stock phrases about Bill Clinton?
It's not about character, all that matters are his policies.
This does not rise to the level of an impeachable offence.
It's his business what he does with that cigar and that intern, none of ours.
He wasn't lying when he denied 'having sex with that woman, Miss Lewinsky', now was he? All that stuff they were engaging in in that bathroom off the Oval Office, that wasn't really sex, you know.
So, Bill is lionized, with all his actual misbehavior documented in detail. Herman is vilified, based upon anonymous allegations.
Which leads to another question:
Is there one set of rules for white Democrats, and another for black Republicans?
(Remember the Clarence Thomas Supreme Court confirmation hearings? This all feels soooooo familiar to those of us alive to have witnessed that dog-n-pony show.) It was a replay of the Robert Bork debacle, only with the hoods and burning crosses on display for good measure.
Which leads to another question, which OS refers to as the 'Homer Simpson Question':
Is there anyone alive, who has really engaged the world, attempted to get stuff done, worked with all manner of people, who hasn't had a few Homer Simpson moments along the way?
OS can certainly look back to more than a few moments of 'Dooooh!'. He actually owns up to a 'Decade of Doooooh!' He works diligently to not create more of them, to put another day of distance between him and them with every day that passes. But he, like everyone else alive, is not immune. It doesn't mean he doesn't go out and engage the world today.
Herman deserves the same consideration, in the humble of opinion of a life member of the 'Dooooh!' fraternity. Last time OS checked, Herman only smokes his cigars, and didn't illegally take 700 million of his clients' funds and lose them on the roulette wheel of the European sovereign debt casino.
That, ya'll, is an actual 'Dooooooh!' event.
Another good one is: Where are they? After all, if we are to be about the business of tarnishing the reputation of a public person, seems that going public would be the thing to do. A good rule of thumb would be: If'n yew don't wantcher pictcher in the paper or alllllll over the internet, don't deliberately say and do stuff that creates media interest. Sorta' like, don't cover yerrself in hunney and walk into a big anthill.
So, here we are, with the wheels coming off Europe, riots ginning up in California, the professors of Southern Illinois University on strike (Really, ya'll! Why do folks with tenure go on strike?), another trading firm gone tits-up with 700 million of the clients' dollars missing, run by one of Obama's ardent supporters (Jon Corzine, former senator, former governor of New Jersey), large swaths of the Middle East in chaos, Iran working on a nuke--so let's spend our time obsessing about....drumroll please/the envelope please....what Herman Cain did or didn't do in the 1990's (the age of, ummm, Bill Clinton).
Hmmm....
So, OS has another question or two as he scratches hiz ole' grey head in puzzlement: Let's assume, fer the sake of argumint, that all those tarrrible thangs they sayin' 'bout Herman iz true! Does it disqualify him from running or taking office? Really?
Remember the stock phrases about Bill Clinton?
It's not about character, all that matters are his policies.
This does not rise to the level of an impeachable offence.
It's his business what he does with that cigar and that intern, none of ours.
He wasn't lying when he denied 'having sex with that woman, Miss Lewinsky', now was he? All that stuff they were engaging in in that bathroom off the Oval Office, that wasn't really sex, you know.
So, Bill is lionized, with all his actual misbehavior documented in detail. Herman is vilified, based upon anonymous allegations.
Which leads to another question:
Is there one set of rules for white Democrats, and another for black Republicans?
(Remember the Clarence Thomas Supreme Court confirmation hearings? This all feels soooooo familiar to those of us alive to have witnessed that dog-n-pony show.) It was a replay of the Robert Bork debacle, only with the hoods and burning crosses on display for good measure.
Which leads to another question, which OS refers to as the 'Homer Simpson Question':
Is there anyone alive, who has really engaged the world, attempted to get stuff done, worked with all manner of people, who hasn't had a few Homer Simpson moments along the way?
OS can certainly look back to more than a few moments of 'Dooooh!'. He actually owns up to a 'Decade of Doooooh!' He works diligently to not create more of them, to put another day of distance between him and them with every day that passes. But he, like everyone else alive, is not immune. It doesn't mean he doesn't go out and engage the world today.
Herman deserves the same consideration, in the humble of opinion of a life member of the 'Dooooh!' fraternity. Last time OS checked, Herman only smokes his cigars, and didn't illegally take 700 million of his clients' funds and lose them on the roulette wheel of the European sovereign debt casino.
That, ya'll, is an actual 'Dooooooh!' event.
Who Sez President Obama Doesn't Plan For The Future?
After, he'll need a hobby to keep him occupied after January 20, 2013...
Tuesday, November 1, 2011
The Wheels On The Greek Bus Are Coming Off...
As always, there's the bad news at the lead of the article, and the really grim stuff is saved for the final few paragraphs.
Merkel, Sarkozy and company chased David Cameron off, and struck a deal to 'solve' the GreeceProblem. Problem is, they didn't check in with the Greeks...
When a country that's lived on credit cards for decades gets news that the bank wants at least part of its money back, well, folks gits all upset, and they may decide to tell the bankers and the rest of Europe to go hang. Bankers and Northern European politicians just hate dealing with uppity Southern Europeans, 'cuz no matter how you try, they just won't sit still and play nice. Why they ever decided to issue national credit cards to Greece, Italy, Spain, Portugal, and let's not forget the Irish, OS will never know. The Euro is a Fig Newton of the central bankers' imaginations, the proverbial round peg in the square hole of each nation's culture.
This droll read of the situation from BBC's Paul Mason is worth a read.
He is cynic enough to suggest that the entire exercise of late has been designed to encourage the Greeks to leave, and hopefully not have the door hit them in the keister on the way out. Of course, since any true effort to do more than paper over the mess has been a kick-the-can-down-the-road exercise, Greece's departure will be exceedingly ugly. Actually the ugly has already begun:
Anecdotal evidence suggests that the Greek elite are buying up property in London just as fast as they can find berths in Poole for their yachts. They are voting with their spinnakers, on the basis that the game is up. In any future Greece on offer, they will have to start paying taxes and they do not want to.
One banker told me the Greek super-rich have mostly left.
The one thing governments have that investment banks do not is intelligence services with the power to wiretap people. If you ever wonder why serving politicians go grey so quickly, it is in part because they see the intelligence. So Mr Papandreou may have looked at the file and said, I can't sell this to my party, nor to my voters, and the business elite are emigrating en masse, so throw the dice.
Last week's market euphoria (nice Greek word, that) has stalled. As the world runs back to the dollar, the US markets will sink again, because the entire rally since 2009 has been fueled by devaluation of the dollar.
Oops.
Merkel, Sarkozy and company chased David Cameron off, and struck a deal to 'solve' the GreeceProblem. Problem is, they didn't check in with the Greeks...
When a country that's lived on credit cards for decades gets news that the bank wants at least part of its money back, well, folks gits all upset, and they may decide to tell the bankers and the rest of Europe to go hang. Bankers and Northern European politicians just hate dealing with uppity Southern Europeans, 'cuz no matter how you try, they just won't sit still and play nice. Why they ever decided to issue national credit cards to Greece, Italy, Spain, Portugal, and let's not forget the Irish, OS will never know. The Euro is a Fig Newton of the central bankers' imaginations, the proverbial round peg in the square hole of each nation's culture.
This droll read of the situation from BBC's Paul Mason is worth a read.
He is cynic enough to suggest that the entire exercise of late has been designed to encourage the Greeks to leave, and hopefully not have the door hit them in the keister on the way out. Of course, since any true effort to do more than paper over the mess has been a kick-the-can-down-the-road exercise, Greece's departure will be exceedingly ugly. Actually the ugly has already begun:
Anecdotal evidence suggests that the Greek elite are buying up property in London just as fast as they can find berths in Poole for their yachts. They are voting with their spinnakers, on the basis that the game is up. In any future Greece on offer, they will have to start paying taxes and they do not want to.
One banker told me the Greek super-rich have mostly left.
The one thing governments have that investment banks do not is intelligence services with the power to wiretap people. If you ever wonder why serving politicians go grey so quickly, it is in part because they see the intelligence. So Mr Papandreou may have looked at the file and said, I can't sell this to my party, nor to my voters, and the business elite are emigrating en masse, so throw the dice.
Last week's market euphoria (nice Greek word, that) has stalled. As the world runs back to the dollar, the US markets will sink again, because the entire rally since 2009 has been fueled by devaluation of the dollar.
Oops.
Monday, October 31, 2011
At October's End, 2011
The hardwood forests that cover most of Tennessee beam with color, especially as the sun's light slants in at dawn and dusk. Contrasted against the bright blue of the skies, they are a glory unto themselves. The walk on the golf course is more about the visual than the sporting during these days,and it is hard to focus on the little white ball with such beauty pressing in from all sides.
This week, OS hopes he remembers to enjoy these days. The work load and schedule, the responsibilities (for which he is grateful, in the main) will ramp up shortly.
The silliness, craziness and venom of the 2012 elections is upon us already. It arrives now sooner with each cycle. Remember when things really didn't get underway in earnest until Labor Day before Election Day? What has happened to us? The free-floating anger is palpable, and shows up in the strangest places--at a jazz concert OS attended this weekend, in pulpits (not too surprising there), everywhere. At least the golf course is exempt in the main. Hard to hit the little white ball whilst obsessing on the latest news.
This week, OS hopes he can set that aside, and recover another day wasted in his mis-spent youth, instead of wasting another of the depleting inventory of days he has left.
Have a good week, ya'll.
This week, OS hopes he remembers to enjoy these days. The work load and schedule, the responsibilities (for which he is grateful, in the main) will ramp up shortly.
The silliness, craziness and venom of the 2012 elections is upon us already. It arrives now sooner with each cycle. Remember when things really didn't get underway in earnest until Labor Day before Election Day? What has happened to us? The free-floating anger is palpable, and shows up in the strangest places--at a jazz concert OS attended this weekend, in pulpits (not too surprising there), everywhere. At least the golf course is exempt in the main. Hard to hit the little white ball whilst obsessing on the latest news.
This week, OS hopes he can set that aside, and recover another day wasted in his mis-spent youth, instead of wasting another of the depleting inventory of days he has left.
Have a good week, ya'll.
Friday, October 28, 2011
Oakland Police Throw Flash Grenade At Protestors Attempting To Aid An Injured Colleague
For those of us old enough to remember the murder of students at Kent State University in 1970, this is disturbing. Very disturbing. The violence and thuggery emanate from the people with the badges.
Does OS agree with the OWS movement? Nope.
Should the kids have gone home that night instead of occupying the streets? Yep, because that much adrenaline freely roaming the streets creates a hazard for everyone.
But this is The United States, governed by a Constitution that guarantees free assemble for the redress of grievances, and prohibits the police from also serving as judge, jury, and executioner. This is the country where the same law that governs us governs the police. Otherwise, we have a Police State.
This will not end well. A threshold has now been crossed, blood has been drawn, and to quote Nixon's old advisor, 'You can't put the toothpaste back in the tube.'
Now, to see if the rule of law applies to law enforcement in California, and in the United States.
Does OS agree with the OWS movement? Nope.
Should the kids have gone home that night instead of occupying the streets? Yep, because that much adrenaline freely roaming the streets creates a hazard for everyone.
But this is The United States, governed by a Constitution that guarantees free assemble for the redress of grievances, and prohibits the police from also serving as judge, jury, and executioner. This is the country where the same law that governs us governs the police. Otherwise, we have a Police State.
This will not end well. A threshold has now been crossed, blood has been drawn, and to quote Nixon's old advisor, 'You can't put the toothpaste back in the tube.'
Now, to see if the rule of law applies to law enforcement in California, and in the United States.
Joe The Plumber Announces His Run For Congress in 2012
Now, wouldn't that just be a kick in the ol' huevos for Obama, to see Joe The Plumber elected to Congress on the same day the country sends TheOne packing?
Joe made the mistake of confronting Himself during the 2008 campaign, and Oprah'sBoyChild did not appreciate actually having to have a conversation with an informed citizen. The Left and its shills in the press made Joe's life a living hell in the days that followed, even to the present day. His visit to Madison Wisconsin earlier this year was cut short by death threats from the union types.
Here's hoping Joe gets his revenge, in the old-fashioned way: Served cold, and at a distance. Here's hoping he and his family stay safe until that day.
OS will keep an eye out for Joe's campaign site, and that little ol' 'Donate' button.
It'll feel good to send money Joe's way, and serve up a little of that cold/distant souffle from Tennessee.
Joe made the mistake of confronting Himself during the 2008 campaign, and Oprah'sBoyChild did not appreciate actually having to have a conversation with an informed citizen. The Left and its shills in the press made Joe's life a living hell in the days that followed, even to the present day. His visit to Madison Wisconsin earlier this year was cut short by death threats from the union types.
Here's hoping Joe gets his revenge, in the old-fashioned way: Served cold, and at a distance. Here's hoping he and his family stay safe until that day.
OS will keep an eye out for Joe's campaign site, and that little ol' 'Donate' button.
It'll feel good to send money Joe's way, and serve up a little of that cold/distant souffle from Tennessee.
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