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The asylum strikes back


Apparently Vice President Biden invited the NRA to the White House to discuss matters they believed had absolutely nothing to do with their field of expertise, like children safety or mental health or healthy snacks, and chose instead to talk about what the NRA represents…guns.

Biden, the devil in second, “spent most of his time on proposed restrictions on lawful firearms owners—honest, taxpaying, hardworking Americans.”

Let’s waste no time and wrap this one into the flag, after all, Biden had no propositions to restrict gun ownership in Mexico and said nothing about thieving, tax dodging, lazy Americans, they’re too busy running banks and getting reelected into Congress.


get a big gun and tight pants.

Biden did mention 6 year olds being riddled by bullets, a glorious consequence of selling semi-automatic weapons with large magazines; who hasn’t needed one of those lately and how can the man possibly use reality rather than imagery like all good death dealers do.

As every Fox-News-mouth-foaming-ignorantus knows, this a clear sign of a fascist dictatorship, therefore we need more guns. Ever wondered why Fox-News types always know what Hitler would think? well, they’re just about as mentally stable as he was, that’s why.



Giddy up

So, the “sacred” 2nd amendment is underthreat, yes “sacred” because some actually believe that the constitution was written by God himself. I have a confession to make; if God wrote the constitution I actually know who he is…well was: Pasquale Paoli, the man who penned the corsican constitution that would inspire the founding fathers, so God died in England of all places in 1807 and he’s not rewriting any of his old shit anytime soon. The constitution was actually amended 27 times since but again, don’t let reality fool you. God wrote it and Jesus rode a Dinosaur five thousand years ago and FREEDOM and SHUT UP.

“We attended today’s White House meeting to discuss how to keep our children safe and were prepared to have a meaningful conversation about school safety, mental health issues, the marketing of violence to our kids and the collapse of federal prosecutions of violent criminals.”

Interesting whiny language indeed, did you know that the NRA itself and friends are actually financing video games and promoting violent movies?

That pesky reality again,  all the kids are going nuts with our law-abiding hardworking guns because we’re making games that drives nobody else around the world to that level of dementia. Makes perfect sense assholes.

“We will not allow law-abiding gun owners to be blamed for the acts of criminals and madmen.”

No one has come anywhere near blaming all gun owners but like freedom of speech, there is a clear line between reason and stupidity and your M16 or AK47 make you a c–t.



Voices of [di]reason


Well, we’re just gonna have to use our brains. Damn it!

I’m glad the NRA took their time to review the situation and brainstorm for a week over the Newtown shooting, otherwise they would have said something stupid like “the only solution to gun violence was more guns” or “armed security guards to be posted in every school in the country”.


Same shit…honestly

Oh…nevermind, they did say that, so I guess it is now safe to call them mental degenerate assholes. Not only do they have the balls to call for more semi-automatic bullets spreaders, they are also calling out the movie industry and video game developers as…[ There exists in this country a callous, corrupt and corrupting shadow industry that sells, and sows, violence against its own people ]. This coming from an association that still claims to be to a grassroots movement but is in fact nothing more than astroturfing from the gun industry is something else. Watch out Hollywood and Ubisoft, you won’t get away with virtual murder that easy says the real murder company. The protectors of the 2nd amendment for those who believe it is a rightful heritage from the American Revolution, only it wasn’t written until 1791, 10 years after Yorktown when people had barrel loading muskets.


If I was in it, it would wreck everything.

Sorry to shatter your dreams of being The Patriot, crawling in mud with an AK47 to save the country from a Government take-over (most likely to happen in some very evil way, like single payer healthcare) or stop the Russians from rearing their heads over Alaska as that special Vice -Presidential candidate put it a few years ago. . So quit the delusion, in the age of swat teams, drones and nuclear weapons, an untrained army of out of shape mercenaries isn’t necessary. Besides, Republicans already have their own private army, it’s called Blackwater and the NRA? Here’s Who The NRA REALLY Represents.


Gee, I wish we had one of them doomsday machines.

“The only thing that stops a bad guy with a gun is a good guy with a gun” is the theory behind “armed security guards to be posted in every school in the country”.

Columbine had an armed police officer present and Virginia Tech had its own swat team, by the time they arrived at the scene, 8 minutes, the shooter had had time to kill 30 people and shoot himself. Lanza at Sandy Hook was shooting 5 bullets a second, given the right amount of ammo, imagine the devastation one can cause in 8 minutes. Needless to say, what happens when kids are on the playground or getting on the bus… armed guards my ass.


I am rich biatch

You can’t blame directly the NRA for the shootings but you can blame them for lobbying in states across the country to keep mental health reporting requirements to a bare minimum and lobbying to stop any attempt to rid the streets and elementary schools of military weapons with high-capacity magazines. One thing is certain, Congressmen and women will get plenty of cash from the NRA and absolutely nothing will change, nothing… all this in the name of preserving the freedom to bear arms while in reality being about corporate profits.


50 numbers

The following are 50 economic numbers from 2011 that are almost too crazy to believe….

#1 A staggering 48 percent of all Americans are either considered to be “low income” or are living in poverty.

#2 Approximately 57 percent of all children in the United States are living in homes that are either considered to be “low income” or impoverished.

#3 If the number of Americans that “wanted jobs” was the same today as it was back in 2007, the “official” unemployment rate put out by the U.S. government would be up to 11 percent.

#4 The average amount of time that a worker stays unemployed in the United States is now over 40 weeks.

#5 One recent survey found that 77 percent of all U.S. small businesses do not plan to hire any more workers.

#6 There are fewer payroll jobs in the United States today than there were back in 2000 even though we have added 30 million extra people to the population since then.

#7 Since December 2007, median household income in the United States has declined by a total of 6.8% once you account for inflation.

#8 According to the Bureau of Labor Statistics, 16.6 million Americans were self-employed back in December 2006. Today, that number has shrunk to 14.5 million.

#9 A Gallup poll from earlier this year found that approximately one out of every five Americans that do have a job consider themselves to be underemployed.

#10 According to author Paul Osterman, about 20 percent of all U.S. adults are currently working jobs that pay poverty-level wages.

#11 Back in 1980, less than 30% of all jobs in the United States were low income jobs. Today, more than 40% of all jobs in the United States are low income jobs.

#12 Back in 1969, 95 percent of all men between the ages of 25 and 54 had a job. In July, only 81.2 percent of men in that age group had a job.

#13 One recent survey found that one out of every three Americans would not be able to make a mortgage or rent payment next month if they suddenly lost their current job.

#14 The Federal Reserve recently announced that the total net worth of U.S. households declined by 4.1 percent in the 3rd quarter of 2011 alone.

#15 According to a recent study conducted by the BlackRock Investment Institute, the ratio of household debt to personal income in the United States is now 154 percent.

#16 As the economy has slowed down, so has the number of marriages. According to a Pew Research Center analysis, only 51 percent of all Americans that are at least 18 years old are currently married. Back in 1960, 72 percent of all U.S. adults were married.

#17 The U.S. Postal Service has lost more than 5 billion dollars over the past year.

#18 In Stockton, California home prices have declined 64 percent from where they were at when the housing market peaked.

#19 Nevada has had the highest foreclosure rate in the nation for 59 months in a row.

#20 If you can believe it, the median price of a home in Detroit is now just $6000.

#21 According to the U.S. Census Bureau, 18 percent of all homes in the state of Florida are sitting vacant. That figure is 63 percent larger than it was just ten years ago.

#22 New home construction in the United States is on pace to set a brand new all-time record low in 2011.

#23 As I have written about previously, 19 percent of all American men between the ages of 25 and 34 are now living with their parents.

#24 Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.

#25 According to the Bureau of Economic Analysis, health care costs accounted for just 9.5% of all personal consumption back in 1980. Today they account for approximately 16.3%.

#26 One study found that approximately 41 percent of all working age Americans either have medical bill problems or are currently paying off medical debt.

#27 If you can believe it, one out of every seven Americans has at least 10 credit cards.

#28 The United States spends about 4 dollars on goods and services from China for every one dollar that China spends on goods and services from the United States.

#29 It is being projected that the U.S. trade deficit for 2011 will be 558.2 billion dollars.

#30 The retirement crisis in the United States just continues to get worse. According to the Employee Benefit Research Institute, 46 percent of all American workers have less than $10,000 saved for retirement, and 29 percent of all American workers have less than $1,000 saved for retirement.

#31 Today, one out of every six elderly Americans lives below the federal poverty line.

#32 According to a study that was just released, CEO pay at America’s biggest companies rose by 36.5% in just one recent 12 month period.

#33 Today, the “too big to fail” banks are larger than ever. The total assets of the six largest U.S. banks increased by 39 percent between September 30, 2006 and September 30, 2011.

#34 The six heirs of Wal-Mart founder Sam Walton have a net worth that is roughly equal to the bottom 30 percent of all Americans combined.

#35 According to an analysis of Census Bureau data done by the Pew Research Center, the median net worth for households led by someone 65 years of age or older is 47 times greater than the median net worth for households led by someone under the age of 35.

#36 If you can believe it, 37 percent of all U.S. households that are led by someone under the age of 35 have a net worth of zero or less than zero.

#37 A higher percentage of Americans is living in extreme poverty (6.7%) than has ever been measured before.

#38 Child homelessness in the United States is now 33 percent higher than it was back in 2007.

#39 Since 2007, the number of children living in poverty in the state of California has increased by 30 percent.

#40 Sadly, child poverty is absolutely exploding all over America. According to the National Center for Children in Poverty, 36.4% of all children that live in Philadelphia are living in poverty, 40.1% of all children that live in Atlanta are living in poverty, 52.6% of all children that live in Cleveland are living in poverty and 53.6% of all children that live in Detroit are living in poverty.

#41 Today, one out of every seven Americans is on food stamps and one out of every four American children is on food stamps.

#42 In 1980, government transfer payments accounted for just 11.7% of all income. Today, government transfer payments account for more than 18 percent of all income.

#43 A staggering 48.5% of all Americans live in a household that receives some form of government benefits. Back in 1983, that number was below 30 percent.

#44 Right now, spending by the federal government accounts for about 24 percent of GDP. Back in 2001, it accounted for just 18 percent.

#45 For fiscal year 2011, the U.S. federal government had a budget deficit of nearly 1.3 trillion dollars. That was the third year in a row that our budget deficit has topped one trillion dollars.

#46 If Bill Gates gave every single penny of his fortune to the U.S. government, it would only cover the U.S. budget deficit for about 15 days.

#47 Amazingly, the U.S. government has now accumulated a total debt of 15 trillion dollars. When Barack Obama first took office the national debt was just 10.6 trillion dollars.

#48 If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 440,000 years to pay off the national debt.

#49 The U.S. national debt has been increasing by an average of more than 4 billion dollars per day since the beginning of the Obama administration.

#50 During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.


A Marat

When Necker, the then finance minister, asked Louis XVI to share his power, the king’s answer was that one could not share what is absolute. His later demise proved he was right, revolutionaries, who had at first tried to share their power with the crown, were being consistently denied true equality.
The changes required to fix the system were too radical for the kings system of governance just as they are today; God had granted kings the right to rule absolutely, money distributed to politicians of all sides by finance oligarchs is buying absolute power. It is not only unsupportable but actively destructive.
The dominant thought in governing bodies in the US and Europe remains that more liquidity – easy money and/or tax cuts – to the rich will solve our current problems, the so-called job creators just need a little incentive to start creating work again. It is absolutely untrue, 10 years of tax breaks for the wealthy have created near zero jobs.
Back in his campaigning shoes, Obama is once again promising what he has come nowhere near fixing in his first term; in Kansas a few days ago, inequalities and wealth distribution were back on the table, after four years of a bankers feast worth $16 trillion and feeding turd sandwiches to the rest, salaries are deflating and unemployment is hopelessly high – real unemployment that is, not the pretty numbers presented as U3, U6 matters.
But we are still presented with the same cure; just like the charlatans who made up most the medical field years ago and who would always practice bloodletting to no avail; our current charlatans are bankers who practice quantitative easing; more money for them is more money for everyone, not true; after all this printing the Dollar velocity is actually lowering, not a sign of renewed economic activity. Banks are taking out loans at the FED at record low rates and parking the sums at the same FED or exchanging real money for the huge collection of toxic assets they have on their books.
This whole song and dance about countries debt isn’t about reimbursing it, countries creditors are quite happy just collecting the interests which represent $450 billion a year for the US alone; It is about consolidating a system of privileges for a select few, who have created the crisis by gambling enormous amounts of money in order to froth up their salaries and bonuses, and socializing the losses.
Bankers have managed to install themselves as heads of governments in Italy and Greece, without elections, they are now coming to the rescue of politicians after having effectively destroyed their own sector; it could be funny but it really isn’t. The way they will want to have it, is through austerity for populations while keeping their casinos opened and unregulated; the longer this system survives, the happier they are, but it won’t last this time.

The illusion of a consumer lead economy is fading fast, inequalities over the years have been masked by offering easy credit, now the system is saturated by this credit, the savings rate has declined drastically while debt at every level of society has grown, salaries have been stagnant – for the majority of the population, 1% of the country is doing quite well – and the sacred consumer is broke and not coming for a second helping.
Cruelly, no amount of money in rich people pockets will re-create a consuming system with no consumers, consumers were the job creators.
While it can be argued that those jobs have been outsourced to China and other cheap labor playgrounds, robots are also replacing a now obsolete work force.
The great depression was an expression of its time; farming jobs were disappearing giving way to industry, machinery meant less need for men and higher productivity made prices and salaries deflate. Robots are now making man obsolete, a third of the working population was in manufacturing just 60 years ago, it is now below a tenth.
The industrial age is now dying and nothing is being drawn up to level the real losses in the economy, if we are to live in a service economy, some thoughts must be spared to reconstruct the wealth of the masses and salaries have to be re-evaluated; a giant tribe of Walmart workers and shoppers is not an alternative…well it is for bankers.
We should not accept this new austerity nor should we accept to be told repeatedly that we are living beyond our means, it is simply untrue.


French Debt

This is apparently a near bankrupt country!
The purple column on the right is the country’s total assets, the red one to the far left is the total debt.
In reality, the financial system is insolvent and banks are selling off bonds in order to pressure the Central European Bank into printing money for a bailout.


Haldane/Madouros: What is the Contribution of the Financial Sector? « naked capitalism

Haldane/Madouros: What is the Contribution of the Financial Sector? « naked capitalism.


By Barry Ritholtz – November 17th, 2011

I did an interview with a print reporter yesterday about what has been going on with lack of prosecutions, the banks, and Wall Street in general. We discussed the corrupt exchanges and HFT.

I dropped lots of F-Bombs, called out cowards and crooks and held nothing back. (“That fucker belongs in prison; this son of a bitch should hang“)

Afterwards, she commented that I seemed angry.

I wrote back suggesting that I am a happy dude, and its not Anger — its closer to an ineffable sadness that comes once you realize you have lost something dear. I am old enough to have grown up when this nation was a Democracy, but that era has passed. We now live in a nation no longer run by the citizens — it is a Corporatocracy — and that makes me sadder than angry . . .

She suggests perhaps a better word is outraged.

I wonder: Why have the Europeans figured out they are getting screwed, and we haven’t? Why are they taking to the streets en masse, while we seem to be watching our own control over our own futures slip from our hands almost as if from afar?

In America, we are too busy dropping the kids off at soccer, running around looking for sales and bargains, racing to keep our heads above water. We seem to forget to get outraged. Our control over our once Democracy — the one we had a revolution against a monarchy dictating decisions from afar — slips away from us. Not with a bang, not even with a whimper, but with a 1000s acts of gradual ceding of power to the new Monarch. We have given up hard won rights to a coordinated attack from all three branches of government; Our Congress has become the legislative branch of eBay — Congressmen are auctioned off to the highest bidder; they even have a Buy It Now button to get specific legislation passed. The executive branch has fallen under the sunk cost fallacy, afraid to prosecute banks because we spent so many billions bailing them out. It turns out that even our once venerable Supreme Court is just as corrupted, with lobbyists partying with Justices and backdooring ethics by hiring their wives.

In short, our new overlords are enormously well funded, well connected, relentless and perhaps most of all, patient. This new King was not appointed by primogeniture, or even Divine Right, but by acquiring enough profits in the free market that they can buy control over society, even as they thwart that free market ideal for their own ends. We have become, in short, a Corporate Monarchy.

The right question isn’t why am I angry, sad and outraged. The proper question is, why aren’t you?


Is JP Morgan Getting a Good Return on $4.6 Million “Gift” to NYC Police? Like Special Protection from OccupyWallStreet? « naked capitalism

Is JP Morgan Getting a Good Return on $4.6 Million “Gift” to NYC Police? Like Special Protection from OccupyWallStreet? « naked capitalism.


Obama’s Economic Quagmire: Frank Rich and Adam Moss Talk About What’s Really in Ron Suskind’s Revealing New Book About the White House — Daily Intel

Obama’s Economic Quagmire: Frank Rich and Adam Moss Talk About What’s Really in Ron Suskind’s Revealing New Book About the White House — Daily Intel.


Wake the hell up

For those of you who think people like me are lunatics, here’s a reality check from the trading world itself.