Showing posts with label Global Economic Meltdown. Show all posts
Showing posts with label Global Economic Meltdown. Show all posts

Wednesday, March 18, 2009

Rage in the Streets Over AIG

Saturday, March 07, 2009

An Interview with the Undersecretary

Q: What are the legal ramifications of U.S. Government personnel being involved in torture?

A: I think you have to qualify "torture." Or better, quantify "torture." How many genitals? How many anal penetrations? What were the decibel levels of the screams? How fast was the train traveling when we saw the sunset over the secret detention center?

Q: Can you tell us how long, exactly, U.S. forces will be in Iraq?

A: How long is anyone in Iraq? How long were the Persians in Iraq? The Brits? How long have the Sufis been in Iraq? Why do they do that weird dancing thing? Are they still doing it in Baghdad? In the Anbar Province? If so, how do we stop them? As long as there are Iraqis in Iraq, I think we have to ask ourselves some hard questions about staying the course, fighting the fight, and basting the chicken.

Q: How many American troops will make up the residual force and what will be their specific mission?

A: Have you noticed the layer of dust on this window sill? Why doesn't anyone clean this place? Don't worry about the residual force. The residual force will consist of four American troops: John, Paul, George and Ringo. Their mission will entail various security functions, training Iraqis in food handling, defusing that cute little redhead in CENTCOM, recording two new albums and, God willing and the creek don't spin, cleaning this damn room.

Q: What about Afghanistan? How many American troops will be stationed there and for what length of time?

A: As long as it takes to gut the pig, root out the poets, pickle the pretties, and negotiate poppy production and heroin distribution between the locals and Citigroup.

Q: How would you characterize our relationship with Pakistan at the moment?

A: It's not good. We sent roses and a box of chocolates, but she still hung up on us. Christ, anybody can drink too much and get a little out of control. Just because I shoot up a wedding party doesn't mean she's got the right to change the lock on the damn door, you know what I mean? It's not like those Pak kids could speak English anyhow. But we'll work something out. She like-y the money. And we've got syndication rights for Seinfeld to sweeten the pot.

Q: Does Iran have the capability to produce nuclear weapons? If so, what position will the administration take?

A: Whatever position makes us last longer and brings her more pleasure. Here, smell this. Does this smell like turpentine to you? I thought it was cologne, but I may have grabbed the wrong bottle. Something's not right.

Q: China is the largest overseas holder of U.S. Treasury bonds and has bought over $1 trillion dollars in American debt. How does this affect our country's policies towards China? Will the administration be able to pursue a human rights agenda for Tibet, for example?

A: Have you ever tried paddle-roasted barbecued baby pig? That's really something. But you've got it all bass-ackwards. We're the stray dogs to China's porcelain poodle. Whose piss do you think is gonna be harder to get out of the rug? Our output in needles alone could fill Beijing ten times over. And, don't forget, we have the Boy Scouts. Mr. Bubble. Bobble-heads. The administration will continue to bail out AIG and Citigroup, and I think those CEOs could teach China a thing or two, don't you? No matter how much we screw up and destroy our economy, no matter how bad our test scores, or how low our spinach quotient, Uncle Bam's gonna bail us out. You see where I'm going with this? Now I'm all juicy and craving that paddle-roasted pig.

Q: Can you talk about Palestine and Israel and the administration's road map in the Middle East?

A: It's all pretty high tech and, to be honest, a little above my pay grade. But we've got this super-duper Middle Eastern GPS system we're going to implement. Produced by an Israeli company that started with seed money from us back when we thought we had money. It can pinpoint a baby in Gaza from outer space and resolve the situation remotely if necessary. And then there's our major infrastructure stimulus package. We think a two-state solution is the most feasible option, but it's going to requite some heavy lifting. Building a new Palestinian state under the sand, or - the Atlantis scenario - moving them to the bottom of the Mediterranean Sea, ain't gonna be cheap. No sir. But think of all the new green jobs. Green money. Green cars. Green hair and lashes. Lots of exciting green technology to eliminate those babies. I shouldn't say "eliminate." Relocate those babies under the sand.

Q: The U.S. Joint Forces Command recently reported that Mexico and Pakistan were at risk of "rapid and sudden collapse." What is the United States doing about the escalating drug violence in Mexico and the security threat it poses on our very own doorstep?

A: We will be negotiating between the locals and Citigroup over production and distribution. Consumption levels are still good, despite our collapsing economy. But as long as there are Mexicans in Mexico, I think we have to ask ourselves some hard questions about staying the course, fighting the fight, and basting the pocho. We didn't invent the border, the border invented us. Maybe we can get some Mexicans to clean this damn room. I do like me a mole poblano, though. Look, I'm due at Langley for a debriefing and the office potluck, and I have to change out of these clothes first. Without splitting hairs or tweaking the turkey, let me just say that you worry too much.

Have some of these pills. We got plenty more where those came from.


[(thought dream 030409)]

Thursday, January 08, 2009

The Bush Years

Some "then & now" numbers from NBC. See the full list at First Read.

U.S. BUDGET
Then: +236.2 billion (2000, Congressional Budget Office)
Now: -$1.2 trillion (projected figure for 2009, Congressional Budget Office)

FAMILIES LIVING IN POVERTY
Then: 6.4 million (Census numbers for 2000)
Now: 7.6 million (Census numbers for 2007 -- most recent numbers available)

AMERICANS WITHOUT HEALTH INSURANCE

Then: 39.8 million (Census numbers for 2000)
Now: 45.7 million (Census numbers for 2007 -- most recent available)

UNEMPLOYMENT RATE

Then: 4.2% (Bureau of Labor Statistics, January 2001)
Now: 6.7% (Bureau of Labor Statistics, November 2008)

CONSUMER CONFIDENCE (1985=100)
Then: 115.7 (Conference Board, January 2001)
Now: 38.0, which is an all-time low (Conference Board, December 2008)

DOW JONES INDUSTRIAL AVERAGE
Then: 10,587 (close of Friday, Jan. 19, 2001)
Now: 9,015 (close of Tuesday, Jan. 6, 2009)

SATISFIED WITH THE NATION'S DIRECTION
Then: 45% (1/01 NBC/WSJ poll)
Now: 26% (12/08 NBC/WSJ poll)
Of course, these numbers don't include the worst attack on American soil, Hurricane Katrina, two botched wars, shredding of the U.S. Constitution, shredding of our standing in the world, our new reputation for torturing people, etc., etc.

Wednesday, December 24, 2008

Bush Finally Helps the Economy

Forget what the Liberal media says about unemployment reaching a 26-year high. The fact is, George W. Bush has actually helped create new jobs.

At least in Turkey...

Stampede for 'Bush shoe' creates 100 new jobs

Ramazan Baydan, owner of the Istanbul-based Baydan Shoe Company, has been swamped with orders from across the world, after insisting that his company produced the black leather shoes which the Iraqi journalist Muntazar al-Zaidi threw at Bush during a press conference in Baghdad last Sunday.

Baydan has recruited an extra 100 staff to meet orders for 300,000 pairs of Model 271. . . .


Orders have come mainly from the US and Britain, and from neighbouring Muslim countries, he said.


Around 120,000 pairs have been ordered from Iraq, while a US company has placed a request for 18,000. A British firm is understood to have offered to serve as European distributor for the shoes, which have been on the market since 1999 and sell at around £28 in Turkey. A sharp rise in orders has been recorded in Syria, Egypt and Iran, where the main shoemaker's federation has offered to provide Zaidi and his family with a lifetime's supply of shoes.

To meet the mood of the marketplace, Baydan is planning to rename the model "the Bush Shoe" or "Bye-Bye Bush".
Meanwhile, the lawyer for shoe-thrower Muntazar al-Zaidi denies that his client apologized for his actions, as had been reported recently. He also claims that al-Zaidi's medical condition is "very bad" after being beaten by Iraqi security.
"Muntazer al-Zaidi considers what he did when he threw his shoes at President Bush as exercising his freedom of expression, in opposing and rejecting the occupation, which has brought misery to Iraq."

Al-Sa'adi said al-Zaidi was not considering giving an apology to the US president, "not now, nor in the future". . . .

"There are visible signs of torture on his body, as a result of being beaten by metal instruments," al-Sa'adi said.

"Medical reports have shown that the beating he was subjected to has led to him losing one of his teeth as well as injuries to his jaw and ears.

"He has internal bleeding in his left eye, as well as bruises over his face and stomach. Almost none of his body was spared.

If you haven't done so already, you can play the "throw shoes at Bush game" at Sock and Awe.

Thursday, December 11, 2008

The 10 Worst Predictions for 2008

Foreign Policy has the full list. Here are some highlights:

1. “If [Hillary Clinton] gets a race against John Edwards and Barack Obama, she’s going to be the nominee. Gore is the only threat to her, then. … Barack Obama is not going to beat Hillary Clinton in a single Democratic primary. I’ll predict that right now.”

—William Kristol, Fox News Sunday, Dec. 17, 2006

After Iowa, Kristol lurched to the other extreme, declaring that Clinton would lose New Hampshire and that “There will be no Clinton Restoration.” It’s also worth pointing out that this second wildly premature prediction was made in a Times column titled, “President Mike Huckabee?” The Times is currently rumored to be looking for his replacement.

2. “Peter writes: ‘Should I be worried about Bear Stearns in terms of liquidity and get my money out of there?’ No! No! No! Bear Stearns is fine! Do not take your money out. … Bear Stearns is not in trouble. I mean, if anything they’re more likely to be taken over. Don’t move your money from Bear! That’s just being silly! Don’t be silly!”

—Jim Cramer, responding to a viewer’s e-mail on CNBC’s Mad Money, March 11, 2008

Six days after the volatile CNBC host made his emphatic pronouncement, Bear Stearns faced the modern equivalent of an old-fashioned bank run. Amid widespread speculation on Wall Street about the bank’s massive exposure to subprime mortgages, Bear’s shares lost 90 percent of their value and the investment bank was sold for a pittance to JPMorgan Chase, with a last-minute assist from the U.S. Federal Reserve.

3. “[In] reality the risks to maritime flows of oil are far smaller than is commonly assumed. First, tankers are much less vulnerable than conventional wisdom holds. Second, limited regional conflicts would be unlikely to seriously upset traffic, and terrorist attacks against shipping would have even less of an economic effect. Third, only a naval power of the United States’ strength could seriously disrupt oil shipments.”

—Dennis Blair and Kenneth Lieberthal, Foreign Affairs, May/June 2007

On Nov. 15, 2008 a group of Somali pirates in inflatable rafts hijacked a Saudi oil tanker carrying 2 million barrels of crude in the Indian Ocean. The daring raid was part of a rash of attacks by Somali pirates, which have primarily occurred in the Gulf of Aden. Pirates operating in the waterway have hijacked more than 50 ships this year, up from only 13 in all of last year, according to the Piracy Reporting Center. The Gulf of Aden, where nearly 4 percent of the world’s oil demand passes every day, was not on the list of strategic “chokepoints” where oil shipments could potentially be disrupted that Blair and Lieberthal included in their essay, “Smooth Sailing: The World’s Shipping Lanes Are Safe.”

Hopefully, Blair will show a bit more foresight if, as some expect, he is selected as Barack Obama’s director of national intelligence.

5. “[A]nyone who says we’re in a recession, or heading into one—especially the worst one since the Great Depression—is making up his own private definition of ‘recession.’”

—Donald Luskin, The Washington Post, Sept. 14, 2008

The day after Luskin’s op-ed, “Quit Doling Out That Bad-Economy Line,” appeared in the Post, Lehman Brothers filed for bankruptcy, and the rest is history. Liberal bloggers had long ago dubbed the Trend Macrolytics chief investment officer and informal McCain advisor “the Stupidest Man Alive.” This time, they had some particularly damning evidence.

10. “I believe the banking system has been stabilized. No one is asking themselves anymore, is there some major institution that might fail and that we would not be able to do anything about it.”

—Henry Paulson on National Public Radio, Nov. 13, 2008

Unfortunately for Paulson, shortly after his vote of confidence, Citigroup’s stock price plunged 75 percent in one week, closing below $5 for the first time in 14 years.
My own worst predictions for 2008:

1. Bill Richardson would become president. (I even put money on that one.)
2. Bill Richardson would become Secretary of State.
3. John Edwards would become president. (I even put money on that one.)
4. John Edwards would become Attorney General.
5. I would win the Nobel Prize for Literature.
6. Liam would win the Nobel Prize for Literature.
7. Liam would at least finish has dissertation.
8. Hillary Clinton would become president.
9. The Beatles would finally re-unite.
10. Big Brown would win become the first Triple-Crown winner in 30 years.
11. Obama would win the popular vote in the Texas primary, putting an end to the Clinton campaign.
12. My wife would throw me out of the house for listening to Waylon Jennings so much. (Thanks, dear.)
13. Spain would find a way to lose the Euro2008 Finals match against Germany. (Viva España!)
14. The Democrats would find yet another way to lose the presidential election. (Viva Obama!)
15. Fred Astaire and/or Lester Young would finally be recognized with a National Holiday.

Monday, December 01, 2008

Who Knew?!?!?

AP: "It's official: US is in recession"

WASHINGTON (AP) -- The U.S. economy has been in a recession since December 2007, the National Bureau of Economic Research said Monday. . . .

The White House commented on the news that a second downturn has officially begun on President George W. Bush's watch without ever actually using the word "recession," a term the president and his aides have repeatedly avoided. . . .

Many economists believe the current downturn will last well into 2009, and will be the most severe slump since the 1981-82 recession. The country is being battered by the most severe financial crisis since the 1930s as banks struggle to deal with billions of dollars in loan losses.

"I'm sorry it's happening, of course," Bush said, referring to a global financial crisis that has eliminated millions of jobs and damaged retirement accounts.
50 days and counting...

Friday, November 21, 2008

Friday, October 24, 2008

A Gershwin Friday: I Got Plenty O' Nuttin'

Don't panic! Barack Obama Sammy Davis Jr. analyzes the global economic meltdown and tells you how to survive the crisis. Forget Paulson - Sammy's going with the Gershwin Plan.



I got plenty of nothing
And nothing's plenty for me
I got no car - got no mule
I got no misery

Folks with plenty of plenty
They've got a lock on the door
'Fraid somebody goin' to rob 'em
While there out (a) making more - what for?

I got no lock on the door
That's no way to be
They can steal the rug from the floor
That's OK with me
'Cause the things that I prize
Like the stars in the skies - are all free

I got plenty of nothing
And nothing's plenty for me
I got my gal - got my song
Got heaven the whole day long
No use complaining

Got my gal - got my Lord - got my song

I ain't a-frettin 'bout hell
'Till the time arrives
I'll never worry long as I'm well
Never one to strive
To be good, to be bad
What the hell
I am glad I'm alive

I got plenty of nothing
And nothing's plenty for me
I got my gal - got my song
Got heaven the whole day long
Man, there's no use complaining

Got my gal - got my Lord - got my song

"I Got Plenty O' Nuttin'"
from Porgy and Bess
Music by George Gershwin.
Lyrics by Ira Gershwin and DuBose Heyward.