R's lose House seat in Louisiana. "R" Senate seat in New Hampshire in danger. The R's send me requests for money for these House & Senate seats, touting "conservative" values like keeping spending low. Uh .... for almost years they controlled both the Presidency and both houses of Congress. Did they control spending ? No ! They looted billions for their earmarks and payoffs and bribes. So they are mostly knaves. The R's squandered a generation of support created by Ronald Reagan in their lust for power and greed, led by George W. Bush. So I use the Nancy Reagan reply, "Just Say No". I only support individual potential leaders with principles.
Obama makes promises to Teamsters union to reduce anti-corruption oversight in exchange for endorsement. Sheesh, he's making shady deals already. What a knave !
Congress destroyed student loan profitability, driving lenders from the market. Now they reverse course. Are these guys "leaders" or just fools ... or knaves ?
Yes, "knave" has become one of my favorite words. "Knave" is so appropriate to American government in the 21st century. "Knave" means an unprincipled, crafty person. "Knavery" means 1. dishonest dealings; 2. a piece of mischief or trickery. Congress is now the Houses of Knavery. Chief knave is George W. Bush - now blathering about controlling spending after slathering his own supporters with billions for years when the R's controlled the both Houses of Knavery.
Now I read about the Houses of Knavery wanting huge amounts for farm subsidies and sugar subsidies. This is really despicable when the common man is already being gouged ... thanks to the knaves prior payoffs for farm votes. Arghhhhhhhhhh!!!
Ex-financials, Q1 earnings are up about 8%. Hmmmm.
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Mrs. B and I travel to Rome for a vacation on Tuesday evening. I will post tomorrow, but then will not be able to post until May 15. Why Rome ? Reason #1 - it's a nonstop flight from Boston. Reason #2 - the weather is pleasant in May. Reason #3 - there are many fine sites of culture. Reason #4 - I have never been to Rome. We have two travel days and six touring days in this "one city" method of vacations. We stay at the same hotel and go on tours or just walk around ourselves, seeing the art, sculpture and sites of antiquity. Plus eat fine meals.
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Word of the Day
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"Quondam" - attributive adjective [$10]
Quondam means that once was, sometime, former.
Sentence: My quondam support for the Republican Party evaporated as they morphed into a party of knaves under the "leadership" of George W. Bush, spending like the "drunken sailors" so often decried by Ronald Reagan.
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"Cacodemon" - noun [$10] also cacodaemon.
Cacodemon means 1. an evil spirit; 2. a malignant person.
Sentence: After Ronald Reagan lead America to be that "shining city on a hill" with clear principles, his Republican Party became infected with, and eventually taken over by numerous cacodemons whose only operative principle is "more" - more spending on greed, bribes, and payoffs - aka "earmarks".
22 comments:
Thanks for the TBT idea, frosty. That TLT short uses too much margin capital for the potential profits.
i thought 'knave' meant male-servant
i heard that word used in the john adams series
Rome good choice
isn't that a pretty popular vacation site for the 'common man' ?
an archaic meaning of knave is a manservant. another meaning is the jack in cards
I thought that a common man vacations at Wally World?
uhhhh I knew I'd get flack for Rome ... but I am honest to readers always.
April ISM non-mfg. 52 -> expansion.
Hmmmm.
odds BAC walks away from Countrywide bunkerman?
may i suggest holding onto your euros at the end of the trip.
i kept a few hundred, and they r up nicely since august.
lol
have fun. check to see if any merolli's r still wanted for murder in that neck of the woods.
clemens apology? thats an apology?
I doubt BAC would walk as they keep saying the deal will close.
As far as debt, seems intelligent to me to not guarantee it all as it protects them against really bad adverse moves.
once the BSC/JPM merger is closed guess how many trillions in deriviatives JPM will be in control of?
no cheating!
"I've been in school service for 27 years and this is the worse it's ever been," said Sara Gasiorowski, food service director for Wayne Township Schools in Indianapolis. "I have never seen food prices jump up so far."
Gasiorowski said kids will still get nutritious meals, but her kitchen staff could suffer as a result. Three days have already been shaved off the 191-day work year because of food inflation, she said, and if it gets any worse, lay-offs are "a possibility."
Food prices nationwide have risen 4.5% between March 2007 and March 2008, according to the Bureau of Labor Statistics' Consumer Price Index, with flour and eggs rising even more dramatically than milk. Grumbles said milk prices in her district are up 22% from last year, which means an increase of 3.5 cents for each of the federally required 16,000 half-pints she provides every day.
"For every penny on a carton of milk, it costs me $30,000 a year," she said. "That's $105,000 extra on my food bill."
Flour prices have roughly doubled over the last year, according to Grumbles, to $19 per 50-pound bag. To make up for the difference, she substitutes canned peaches for fresh apples "to save a couple pennies" per meal, or she uses ground beef in place of chicken.
Balancing school lunch with possible lay-offs
"The parents expect more fresh vegetables, but we're having to make a choice not to," Grumbles said. The only other solutions would be to lay off workers, charge parents more per plate, or convince Congress to increase its annual reimbursement rate, she said.
"If the general public expects school programs to provide quality food for their kids, then the reimbursement rates need to increase," she said. "The increase over the next two years needs to double, in order to survive."
Federal reimbursement programs cover all or part of school districts' lunch tabs. Congress lifts reimbursement rates every year, but Gasiorowski said it hasn't been enough: "We need to be looking at an increase of 12% to 15%, instead of our usual annual increase of 2 or 3%."
does this prove the BLS is lying and we r mired in stagflation?
4.5% inflation on food, ROFLLLLLLLLL
sounds like the common man is say 12 to 15%.
is that "net" or "gross" ?
because many would offset.
milk ... hmmm ... guess that Federal dairy price control program isn't helping the common man.
Who'd have thought ?
fare buon viaggio Bunk!!!
net
50 trillion
hopefully they will offset, and catch a bid. becuase if 91,000,000,000,000.00 $'s blows up.
well thats pretty much game over, ragheads win.
C is in 2nd with about 35 trillion.
Those derivative numbes are sooo phony. It's as if one totalled every stock trade, long or short, as a separate contract and added the numbers up.
ya i think that is a BLS estimate
;-)
But while the deal is now securely in place, it's not certain that a happy ending is in sight. After the merger, JPMorgan - with around $91.7 trillion in total derivative exposure - will solidify its position atop the derivative league tables. Citigroup (C, Fortune 500) is a distant second at $34 trillion, according to the Office of the Comptroller of the Currency
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