February 27th, 2009

yellow_elephant

"Reality Agnostic Media"

God Hating America Bashing Ferrign Devil wants to propose
Reality Agnostic Media
as the ideologically corrector replacement for Main Stream Media!

Clearly the current whinefest about the evil "Fairness Doctrine" makes it clear that we REALLY do not want some sort of regulatory oversight by the jack booted repressive Iron Fist of Government mandating standards about the number of Trans-Factuals a person is allowed to injest before they are FORCED to take Mind-Bleach!!!

Clearly only the Free Market can resolve how much
Reality Agnostic Media
should be encountered, and how much Trans-Factuals a person can actually embrace before becoming a mind numbed blithering idiot.

Remeber boys and NoPersons a prefessional Mind-Bleach cleansing is a personal right that the founding fathers always supported, and you should ONLY use prefessional Mind-Bleach cleansing by paid PreFessionals!!! Since clearly no sane person is in favor of Fessionals, and therefore can not really be a part of the Pro-Fessional Movement of any kind.

You Reality May Vary.
Void where permitted.
yellow_elephant

World War Z, not the movie...

Well it looks like the attack of the Killer Zombie Clown Banks...
Back last November, I said that the Obama administration needed to do five things:
1. Expansionary monetary policy at an appropriate scale.

2. Expansionary fiscal policy at an appropriate scale.

3. Massive bank recapitalization--or nationalization--so that banks believe that they can be banks that start lending again rather than being zombies that think they have to hunker down and minimize risk in order to keep the next negative shock from destroying the institution.

4. Massive buy-ups of mortgages by Fannie and Freddie so that (a) mortgage deals could be reworked, and (b) the supply of risky assets on financial markets that the private sector could be reduced in consonance with the banking system's reduced risk tolerance.

5. Design the regulatory system for financial markets going forward.
Bernanke has done (1). Summers and company have done (2) at perhaps half-scale--but thanks to the Republicans and Senator Nelson that was the biggest fiscal boost progrtam that could get through congress. Geithner and his skeleton staff are doing about half of (3)--or perhaps less. And I see no signs of (4) or (5).

This is much, much better than the Bush administration. But it is not reassuring. We might still get out of this "OK," where "OK" means a headline unemployment rate that stays below 10%. But we might not...

[ cf On the Economy, Obama and Company Are Now Batting 2 Out of 5... ]
Can we do the cooler thing now?

Can we follow in the wave of the New Day In America and simply abandon reason, and start what ever newer Cargo Cult will bring back De plaines so that we can all once again live on Fantasy Island where our Mark To Madness is still considered the hippest coolest post surreal thing ever...

Or MUST we just hunker down and do the stuff like deal with financial stuff, you know, like one of the Tall Ones.... You know, act like we were the adults, and not like some collection of chidren waiting for the Majikal Tooth Fairey, in a troika with Rainbow Randolph and Smoochy, will wave their majikal dildo and we will all be majikally unFscked!!!
yellow_elephant

But THINK of the Innocent CHILDREN!!

What sort of Moral PreVerts would want to expose CDO's and ABS's before INNOCENT CHILDREN!!!
Time to expose those CDOs: Just how much should a debt vehicle backed by subprime mortgage bonds be worth these days? Two years ago, most banks and insurance companies assumed the answer was close to 100 per cent of face value – or more. Since then, however, that “price” has clearly collapsed, triggering tens of billions of dollars worth of writedowns, particularly in relation to a product known as collateralised debt obligations of asset-backed securities (CDO of ABS.) But as the zeroes relating to writedowns multiply, a peculiar – and bitter – irony continues to hang over these numbers. Notwithstanding the fact that bankers used to promote CDOs as a tool to create more “complete” capital markets, very few of those instruments ever traded in a real market sense before the crisis – and fewer still have changed hands since then. Thus, the “prices falls” that have blasted such terrible holes in the balance sheets of the banks have not been based on any real market numbers, but on models extrapolated from other measures such as the ABX, an index of mortgage derivatives. What has blown up the capital markets is thus a set of theoretical swings in prices that were always pretty abstract....
[ cf Gillian Tett Bears Bad News About CDOs ]
WHAT?

Marketted products without markets...

How Enron...

So clearly now, it is time to simply call in the Tall Ones and.... What if the Irken Tall Ones are not going to come and protect us????

WHAT IF WE ARE THE INNOCENT CHILDREN WE ARE TRYING TO PROTECT!!!

Maybe what we need is to go into rehab, and explain that it was not really our fault, that it was all of that Moonshine that the Supply Siders under Milton Friedman sold us, and the drug abuse of the Total Deregulators under the Evil Klintonesta Regime, and that we should not be held accountable, because evil liberals are EVIL!

And Liberals!

And ERS!!!!

Think of the Innocent Children...
yellow_elephant

THE XOMBIE ASSETS ARE COMING!

Hitherto, most bankers – and policy makers – have vehemently resisted that idea since they feared that public sales would produce painfully low prices.... But in a world where investors already feel utterly terrified by the inability to determine values – and the recovery rate on triple A assets has tumbled to just 5 per cent – conducting an open fire sale might now be the least bad of some terrible options. After all, if an open auction ends up pricing mortgage-linked CDOs near zero, at least the capital hit to the banks and insurance companies will be clear; and if it is higher than zero, it might even cheer investors up. Either way, until investors get some sense of what something might – or might not – be worth, it will be painfully hard to rebuild trust in capital markets and banks alike.
[ cf Gillian Tett Bears Bad News About CDOs (emphasis mine) ]
WHAT!!!!

The GOD HATING OBAMANITES want to have mark to market infomation!!!!

What clearer sign can there be that they are Rounding Up White Women to sell into Slavery in Chinese Opium Dens.

They want to take our WHITE WOMEN AWAY simply because they want to have the market resolve the prices of assets!

Now more than ever we must stop the Obamanites from... uh, obliging what the free market should have done....

OR THEY WILL TAKE OUR WHITE WOMEN!!!!

Because they hate freedom!

Oh yes, and you should be really scared that there are XOMBIE ASSETS and they are going to come and
TAKE OUR WHITE WOMEN!!!!
because XOMBIE ASSETS know the market value of a certified pre-owned white woman, and can get you a really good price on them...
yellow_elephant

Bringing Back 'Spend a Penny'

UnHoly XOMBIE ASSETS!
Irish budget airline Ryanair has said it is considering charging passengers for using the toilet while flying.
[ cf Ryanair mulls charge for toilets ]
Well that will put the penny back into spend a penny...

And of course will bring back the Supply Side Economics....


For you brightly painted savages in the colonys, cf penny:
To "spend a penny" in British idiom means to urinate. The etymology of the phrase is literal; some public toilets used to be coin-operated, with a pre-decimal penny being the charge levied. Eventually, at around the same time as the introduction of decimal coinage, British Rail gradually introduced better public toilets with the name Superloo and the much higher charge of 6d.[2]
[ cf Penny ]
yellow_elephant

Should the GOP consider Truthier a gooder thingie.

Wow kiddies - now formerly moderate republicans have joined the whole spin doctoring fantasy.... This time it is Jindal trying to become the new Hughey Long...

Read it,(Republicans: Much Worse than You Can Imagine (Bobby Jindal Edition)), re-watch the story - and then ask yourself why is it that the party that had once been the bastion of Law and Order is now the Stonerville Follies trying to Channel the Yippie Party?

I mean, dude, like put down the bong, dude, like you are soooo BAKED!!!