March 17th, 2009


More Proof the WarPresident is protecting america.

Hey Boys and NonPerkin - have you noticed the number of Whiney Evil Liberal media pundits who are using DearOldDick's recent media blitz as some sign that DearOldDick is stabbing the troops in the back by not following his High Moral Standard of supporting the President to support the troops.

Which would be truthier, were it not for the Real Reality! Namely that as a part of the Other Branch Of Government, DearOldDick is supporting the WarPresident, and thus supporting the troops, even if he is dissing the Civilian President, who is merely the president for those people who are not supporting the WarPresident.

Thus we arrive at the only Logical, and Rational conclusion, reducible from first principles, in a nice white whine sauce, that the WarPresident is still protecting america, irregardless of what the evil liberal media is saying...

The Green Economy Is Coming!!!

If you read the news correctly, the TreeHuggerInChief is still the WarPresident:
What this boils down to is that the government will allow banks to pretend that their worthless assets are worth significantly more than what the market will pay for them. In other words, banks will rescue themselves from insolvency by using the magical power of bullshit.

The fact that Larry “The Housing Bears Are Wrong Again” Kudlow supports such a move should be surprising to no one. After all, Larry has long written about the virtues of a bullshit-based economy:

[ cf Based on bullshit ]
But BS is Organic, therefore it is Green!

Therefore the halcyon days of Marke To FanTasy Island are still leading the way!

Thus the TreeHuggerInChief is Still The WarPresident, and all is majikal and joyous and Fancifully Green!

Or does that mean that we are once again under the repression of the Leftist Leaning God Hating Dirt Worshipping America Bashing Draft Dodging Kult of Death and Despair...

Oh what is a Young Republican to do without any of the great gilded worlds of Dubya to lead us to the promise land....
Bow down,
bow down,
before the power of Santa --
or be crushed,
be crushed by his jolly boots of doom!
That is what this nation is really looking for, the Easter Platypus....

Yeah, that will solve everything...

Support the ChickenGalts....

*Since none of the loudest ‘going Galt’ enthusiasts are actually and literally going Galt, can we devise a name for this group? Humble suggestion: Chickengalts.
[ cf Who Moved My Jesus? ]
now these are tough times, and trying to be a Galt while sorting out if the Anti-Christi Obama is more Anti-Christi than the last one, and does this really mean liquidate one's portfolio and go in live in the mountains waiting for the mother ship to take you home....

Well, those are tough questions, and not for the feint of heart....

And Chickens are really very militant, which is like being militaryistic, and then there were the Great ChickenHawks who defeated the unbelievers not only during that vietnam thing, but the whole IranqianEsqueNeff...

So be a pall and support your Local ChickenGalt...

When Non-Risk Distribution becomes Organic Fertilizer

What is equally striking, however, is the all-encompassing list of names which purchased insurance on mortgage instruments from AIG, via credit derivatives. After all, during the past decade, the theory behind modern financial innovation was that it was spreading credit risk round the system instead of just leaving it concentrated on the balance sheets of banks.
But the AIG list shows what the fatal flaw in that rhetoric was. On paper, banks ranging from Deutsche Bank to Société Générale to Merrill Lynch have been shedding credit risks on mortgage loans, and much else. Unfortunately, most of those banks have been shedding risks in almost the same way – namely by dumping large chunks on to AIG. Or, to put it another way, what AIG has essentially been doing in the past decade is writing the same type of insurance contract, over and over again, for almost every other player on the street.

Far from promoting “dispersion” or “diversification”, innovation has ended up producing concentrations of risk, plagued with deadly correlations, too. Hence AIG’s inability to honour its insurance deals to the rest of the financial system, until it was bailed out by US taxpayers.
If the US creates a “systemic risk” regulator, it should be on the lookout for similar concentrations of risk.
[ cf Why We Own AIG ]
At which point we really must ask why the department of agriculture has allowed AIG to pay such big bonuses for such clearly as small amount of BULL_POOH.

You'd think that the department of agriculture would show more sensitivity to the american tax payers, and would not allow these federal employees at AIG take home actual money when they already have such rich and rewarding big bags of Pooh...