“In the early 19th Century one of my predecessors, Thomas Jefferson, ill-advisedly meddled in the affairs of the duly designated government of the sovereign nation of Morocco, specifically its city of Tripoli, by threatening to remove its leadership if he, the pasha of Tripoli, did not comply with demands issued by the U.S. Navy. I sincerely regret this event, particularly in light of it coming in the wake of the West’s unjustified and hegemonistic intrusion into the Middle East in the form of the Christian Crusades from 1095-1291. It should never too late for a great power to say ‘I’m sorry.’ So today, on behalf of the American people, I, Barack Hussein Obama, President of the United States of America, say to all the descendents of the pasha of Tripoli and to the descendents of the Barbary Pirates, ‘I apologize for our meddling in Morocco’s affairs and our intrusion onto the shores of Tripoli.’” |
Saturday, November 14, 2009
It's About Time II
It's About Time
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Purge
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Farcism
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COTD: Suckers
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Exactly Nothing
Frederic Mishkin, a former member of the Fed's board of governors, wrote an article in last Tuesday's Financial Times that displayed that he, and presumably other Fed heads, have learned exactly nothing from the disastrous consequences of their activities in printing money over the past couple of decades. Meanwhile, when the two biggest bubbles our country had ever seen (those in stocks and real estate) were under way, most people appeared to be incapable of identifying them. |
Yes, Alan Dershowitz Is In Fact Insane
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Stay Home. Er, No, Wait!
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That's Right. Er. Very, Very Left.
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To ask the question is to answer it, no?
Stomach Cramps
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COTD: The Enemy
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Friday, November 13, 2009
Don't Forget Turkey
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10,000 Hours
Our so-called President has zippo hours and it shows to the few of us not too busy watching balloon boy to be bothered.
The Sack Of Iran
On the night of November 10-11 there was a very bloody gun fight in the area of Karaj, in which several senior Revolutionary Guards officers were killed or wounded.
The report contained the predictable details of the ruin of the economy, but it also described the amazing economic power of the Revolutionary Guards.
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Thursday, November 12, 2009
Keeping Up The GPA
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Scary Silence
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Wednesday, November 11, 2009
2003 Redux
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Whoops
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Canary In The Toilet Paper
HAVANA, Nov 11 (Reuters) - Cuba has ordered all state enterprises to adopt "extreme measures" to cut energy usage through the end of the year in hopes of avoiding the dreaded blackouts that plagued the country following the 1991 collapse of its then-top ally, the Soviet Union. In documents seen by Reuters, government officials have been warned that the island is facing a "critical" energy shortage that requires the closing of non-essential factories and workshops and the shutting down of air conditioners and refrigerators not needed to preserve food and medicine. Cuba has cut government spending and slashed imports after being hit hard by the global financial crisis and the cost of recovering from three hurricanes that struck last year. "The energy situation we face is critical and if we do not adopt extreme measures we will have to revert to planned blackouts affecting the population," said a recently circulated message from the Council of Ministers. |
There. He Said It.
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Incredible Damage
Many of the jobs created between the 2001 and 2008 recessions were related either directly or indirectly to the parabolic extension of credit. And economists think that the unemployment rate is in the process of cresting now? Just remember it is the same consensus community that predicted at the beginning of 2008 that the jobless rate would peak out below 6% this cycle. |
Peak Gold
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Destruction (Part 87,493)
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Tuesday, November 10, 2009
Balloon Country II
In other words, you’d expect the modest amounts put by such funds into the U.S. equities market following the March drop to be increasing by leaps and bounds right about now. Instead, they’re moving in the other direction.
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Balloon Country
Low rates also play a role in that many of the stocks that have led the recent rebound are financial stocks, which benefit directly from being able to borrow money at bargain-basement rates. Just four stocks—Bank of America (BAC), Citigroup (C), Fannie Mae (FNM), and Freddie Mac (FRE), all of which rely on the Fed’s largesse to an outsized degree—are responsible for up to 20 percent of all trades. |
Chanos' China II
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Chanos' China
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Blast Them!
President Obama contributed to that sort of confusion on Monday, in an interview with Reuters. Kicked yet again by an Iranian regime that has no intention of doing anything that would prevent or delay its development of atomic bombs, the president whistled in the dark:
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My Anti-brO
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Inevitably
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Trouble
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Monday, November 09, 2009
I hOpe You Like Him
I really wish I could be there to celebrate with you. Unfortunately, with the passing of time, I have five children, our economy is bad, and I too, have other priorities. So I am sorry that my President, the American face to the World will not be there for you. I feel just a little better knowing that you asked America to give him to you. I hope you like him. |
Perfume
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Papered
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