Friday, November 12, 2010

Deep Six the Deficit Commission

You don't even have to read their report. Just look at its members. Here they are:

Deficit Commission Members


ERSKINE BOWLES, co-chairman; Bill Clinton’s chief of staff from 1996 to 1998.
ALAN SIMPSON, co-chairman; Simpson was the No. 2 Republican in the Senate for a decade.
DAVID COTE, a Republican, has served as Honeywell International chairman, chief executive and president since 2002.
ALICE RIVLIN is a former Federal Reserve vice chair who was also budget director under Bill Clinton. She was the founding director of the nonpartisan Congressional Budget Office from 1975 to 1983.
ANN FUDGE, chairman and chief executive of Young & Rubicam Brands from 2003 to 2006.
ANDREW STERN, president of the Service Employees International Union, which covers 2.2 million workers such as healthcare staffers, security officers and public employees.


SENATOR RICHARD DURBIN, the No. 2 Democrat in the Senate, from Illinois.
SENATOR KENT CONRAD, Budget Committee Chairman, from North Dakota.
SENATOR MAX BAUCUS, the Finance Committee chairman.


SENATOR JUDD GREGG, from New Hampshire.


REPRESENTATIVE JOHN SPRATT, chairman of the House Budget Committee.



How ridiculous is the composition of that commission? Every single person is a member of the Ruling Classes. Most are members of Congress, person who are coddled and cossetted as no other group. They know nothing about running a business, nothing about actually doing a tax form, and know noting about the common man and woman - their lives and problems and what government truly does, and does NOT do.

For nongovernmental representatives, they toss in a couple CEOs - another group of chief hogs. Does any of them live in a small town? Nope. Does any of them do their own tax form ? Nope. Does any of them work with their hands ? Nope. Does any of them run a business on the ground level ? Nope. Is any of them poor ? Nope. Heck, they are probably all multimillionaires.

Does any of them have intellectual experience in practical matters ? Nope. Can any of them do calculations themselves ? Nope. It's totally dependent on the government for basic information - a fine example of garbage in, garbage out.

That commission is a disgrace and has been a disgrace since the day it was named. Toss that report in the circular file - the trash bin.

Word of the Day

"Consanguineal" - noun [$10]; "Consanguineous" - adjective [$10]; "Consanguine" - adjective [$10]
Consanguineous means (A) descended from the same ancestor; (B) of the same lineage or origin, esp. related by blood.
Sentence: All persons on the Deficit Commission are consanguine members of the Ruling Class.


Spin-em said...

screw the report..we want to hear about the "fancy party"...the whos the whats the wheres....who won there a monster douche award??? bout somebody was so drunk..lool....

Bud said...

China’s central bank may raise interest rates within weeks after inflation accelerated to the fastest pace in 25 months in October, a Bloomberg News survey of economists showed.

at least the chinese data more honest then US government nonsense.............still think there's no inflation here Bman ???

Bunkerman said...

the book party was at a fancy club - lots of cultural types.

Open bar but no one got "noticably" smashed.

It was fun, though.

Bunkerman said...

no inflation YET, Bud.

Ben is trying to cause some.

Bud said...

well well well................Marc faber says 'QE2 will lead to the downfall of america'

does marc faber read this blog ???

Spin-em said...

Bunk..Why is Bud so angry all the time??...

Bunkerman said...

Marc Faber is a member of the beefer branch of the Ruling Class who wants to impoverish the common man and woman of America so he and his ilk can be the new worldwide aristocracy.

Bud said...

art cashin says QE2 looks like the titanic...........roflmao

PS............Bman is art cashin also "a member of the beefer branch of the Ruling Class who wants to impoverish the common man and woman of America so he and his ilk can be the new worldwide aristocracy ? "

mfl59 said...

Are you sure Marc Faber wants to impoverish the common man? That seems a bit off to me sir....but who am I?

mfl59 said...

Were there any common men at this snobbish party?

Did you head over to NYAC?

Spin-em said...

I think "mike" is talking about his 2nd favorite show.. Housewives of NYC??

Bunkerman said...

at the party, no, I don't think so.

After the party, yes, I went to the NYAC Tap room bar for a couple Golden Kryptonite martinis and to give the bartenders their holiday gratuities (I don't expect to return to NYC until early 2011).

uh .. I was "generous", of course.

Bunkerman said...

Art Cashin is a trader. He's go this opinion (which I respect), but to my memory, he's been rather wrong for awhile, doubting the up move for many months.

mfl59 said...

Can we get an inflation check in NYC? How much was a cup of coffee and a bagel?

Bunkerman said...

I ate at the NYAC for breakfast - same prices as last year.

mfl59 said...

Hmmmm very interesting.....what say you Bud?

Bunkerman said...

The clubs were very busy, especially the Harvard Club. I don't think I've ever seen it so busy.

All Midtown looked very busy, saw many corporate types striding to meetings, etc., talking. Wearing more colorful ties, too.

Recession is over for that group.

Spin-em said...

now this is a beauteeful blog

befitting a man of stature

Big Al knows where I'm going here.....

Spin-em said...

"All Midtown looked very busy, saw many corporate types striding to meetings, etc., talking. Wearing more colorful ties, too.

Recession is over for that group."

thank you Punxsutawney Bunk

Bunkerman said...

Almost al the stimuls money and TARP money went to re-float those members of the Ruling class and their petty gentry. So it's no shock their recession is over.

The common man & woman gor almost zero - still suffering.

Only Ben is helping some of them.

Keep shelling, Ben!

Bud said...

striding to meetings ??? huh ?? how the F you know what they were striding to ?? maybe they were striding to F'ng job interview.............gimme a break

reminds me of somethin else you said/saw........'blackberries and laptops.......flight packed'

oh said that in 2008.............just before we were losing 700k jobs a month..........just before the man's panic my ass

what a fool you are Bman

Bunkerman said...

Bud, the key word in your rejoinder is "before".

Thanks for implicitly confirming my observation and it being correct "at the time".

Which was before the beefer Vikings destroyed the markets with endless bear raids.

mfl59 said...

Bunkerman is this the start of something or is it just beefers messing around?

Spin-em said...

at least bunks will be able to say ..Im glad my indicators told me to % sold but...if it keeps going indicators told me to sell but keep in mind what I have invested is a VERY large sum....loool...Bunk wins all the time!! sounds about right??

Spin-em said...

just kiddin bunks...have a good weekend pal

Bunkerman said...

oh c'mon ... you guys are getting "precise" signals from Krypto on which way to lean ... and for ? $6K ? nope. zippo, zero zilch

They are so crystal clear even people from Iowa State could comprehend them :)

I did lots of selling high ... what more do you want? I said I took off all the extra longs I have put on at 1060.

I think this is the pullback I mentioned a while ago, to set up a big move up to the all time highs WHEN Ben's program works.

I will reload as Krypto gives orders, but also will put on the extra longs around 1150.