Recent Items

Links, 4/11/2012

Posted on by

NY pushes objection to BofA $8.5 billion mortgage pact (Reuters) So there’s a bit of life in Schneiderman’s office.  A bit.

Usury Takes a Bite Out of the Poor (Credit Slips)

WTO Orders U.S. to Dump Landmark Obama Youth Anti-Smoking Law (Huffington Post)  - The World Trade Organization reversed America’s ban on flavored cigarettes, which are targeted at children.  Indonesia sued, and won, arguing that banning clove cigarettes is an unfair trade barrier.  Our trade laws make sense!

Consumer bureau plans overhaul of mortgage industry (The Hill)

Rick Santorum asks supporters: What’s next? (Politico)  What’s next, Rick? Not being President, that’s what’s next!  Ka-pow!  Boom!  Tip your waitresses!  I’ll be here all, oh, calm down Yves is coming back soon.

Rush Limbaugh: The ‘establishment’ won (Politico) Apparently Limbaugh says that he and his fellow members of the plucky rebel alliance, armed only with the entire network of Clear Channel radio and various billionaire SuperPACs, were defeated by a vastly superior force of other billionaire SuperPACs.

Carlyle Is Said to Seek Value of Up to $8 Billion in IPO (Bloomberg)

Obama: Buffett rule about fairness, future (Politico)  President Obama also gave a speech on raising taxes on the rich.  I wonder if he just has a bet on how many promises he can make and break to voters without them caring.

Chris Christie Says We’re Turning into a Nation of Couch Potatoes (Politico)  The New Jersey Governor says that we’re turning into a ““paternalistic entitlement society” that will bankrupt the country financially and morally because “we’ll have a bunch of people sittin’ on a couch waiting for their next government check.”  The real question is… will he run for President?

Wafting poison makes fertile ground for suit in Stearns County (Minneapolis Star Tribune)

Massachusetts Senate Poll Shows Elizabeth Warren, Scott Brown Running ‘Neck-And-Neck’ (Huffington Post)

Social Stress Changes Immune System Gene Expression in Primates (Science Daily)

Apple, Macmillan Said to Prepare for U.S. Suit Over eBook (Bloomberg)

Americans Agree: There Is No Recovery (Financial Armageddon)  Not sure I buy this, the data seems more mixed.

Why GOP Mega-Donor Sheldon Adelson Is Mad, Bad and a Danger to the Republic (Rolling Stone)  ”Adelson once told the Wall Street Journal, radical Islam and the right to more easily join a union were the two greatest “fundamental threats to society.”"

Irish Economic Crisis Devours Restaurants (Wall Street Journal)

A Russian City Always on the Watch Against Being Sucked Into the Earth (New York Times)

Pa. joins cash-hungry states turning to lotteries (Pocono Record)  This is actually just about privatizing state lottery systems, or as it’s otherwise known, legalizing gambling.

John Douglass, Democratic Virginia Congressional Candidate, Is A Rebel Civil War Reenactor (Huffington Post)

Make Peace The first paragraph deals with how to meditate when you can’t get your mind off a politician you hate. (Yoga Journal)

SoFi Reinvents College Loans With Alumni Funding (TechCrunch) Or they could just deal with the leverage and corruption at the heart of the problem. But whatevs.

And the antidote…

Print Friendly
Twitter17DiggReddit0StumbleUpon0Facebook0LinkedIn2Google+0bufferEmail

109 comments

  1. craazyman

    sounds like Gov. Christie is talking about the banksters.

    if he’d pull their plug I’d even think of voting for him, even though he looks like something out of Jersey Shore. haha

    I’m way too cool to live in New Jersey anyway. If Christie were that cool, he’d be a fat guy in New York City and he’d be down in Zucotti Park with a huge sign that says “Wall Street Has Occupied the Fed and the Treasury!”

    The coolest thing about New Jersey is the Joyce Kilmer Rest Stop on the New Jersey Turnpike. It was there I learned that Joyce Kilmer was not a florid overwrought woman overcome with rapture upon seeing a tree, but was in fact a highly macho man who served as a demolition expert in World War I and died in action. That shocked me. I bet Joyce Kilmer would be in Zucotti Park if he were still alive.

    1. Richard Kline

      Chris Christie won’t run for President; he’ll roll. He’ll find he doesn’t have game outside of the country’s urban corridors, though.

      As if it mattered. Stop and think: We’ve heard endless mediaminutes for the last two years on The Next Great White Hope who would lead the Repugnicant Party to the victory they deserved (just ask them how deserving they are). What did _that entire lot of sorry, clutching clowns_ amount to or manage to promote? A dozen of these gram-sized juggernauts those in The Other Party were supposed to fear and loath (and endlessly fundraise off of the resultant scaremongering). Piffle. Swing-and-a-squiff. Natter-notes. . . . Nada. I’m not even going to repeat the names of all the tawdry, rent-a-sellout, stale twinkie politicos who have been hyped as ‘sure to be President in the X election cycle.’ The unifying factor for ALL of them is the uniformity of their flopitization. Flops on the hustings, all. Damp squibs yielding small stinks, less ink, a few pixels, and a joke and a half without a punch line. Because one and all they had nothing to say to the electorate except, “Y’all so stupid you’ll buy anything, so elect me because you won’t have to pay, I’M BOUGHT ALREADY *hahahahahaha*.”

      Chris Christies won’t play in the South. He’s just another spoiler for the mega-billionaries who own the political process in the US of A. Which is why anybody who cares needn’t bother to care less, the action is wherever wholly owned spouting frauds like him are _not_. Like in the streets and streaming live. Chris Christie: Yesterday’s man before he’s even declared as Maybe Somebody.

  2. LeeAnne

    or, slightly less poetically; people in glass houses shouldn’t throw stones said one fat loud mouthed pig of privilege to another not so privileged on its way to the slaughter house.

  3. Klassy!

    From the Science Daily link:
    “There’s a spooky side to this kind of research, in that an individual’s social rank is partially determining health status,” Tung said.”
    Of course, we really did not need to know that there is a link between social status and genetic regulation in primates on a genome-wide scale. We’ve known for years that your body does not differentiate between physical and emotional stress: the stress response kicks in no matter the source). And this in itself is not healthy. (This is not to deny that the response is not beneficial in some circumstances.)
    We also know that relative poverty causes stress.
    You have many NYTimes style liberals who believe that the health problems of the poor are a direct result of too much junk food and not enough access to our medical system. (They also seem to believe their health status is directly attributable to undergoing multiple wellness screenings and their virtuous diet and workout regimen rather than their relatively comfortable SES) This always leads me to wonder whether they actually know any poor people. Really poor people.

    1. Lambert Strether

      We’re dealing with very complex and dynamic systems and who knew, class has a biological substrate (except the substrate and the, to coin a phrase, superstrate are involved in a mutual feedback loop that’s organically mediated). Makes Marxian superstructure and substructure look rather like a child’s toy. Or an extremely primitive, er, model.

    1. They didn't leave me a choice

      Well, you can have negative interest, as long as it’s low enough (lower than growth) then it’s not that big of a problem. Of course the enemies of humanity will never allow interest rates under growth rates so I suppose it’s just an idle thought.

  4. TomOfTheNorth

    Re: the MN pesticide overspray suit, while the State Agriculture Dept had repeatedly cited the offending neighbor for violating regs, the article states the Appeals Court ruled on the basis that the monetary damage was caused by ‘trespassing’. GM crops next?

  5. Goin' South

    Christie lecturing us on hard work. Wow. How long do you guess Christie would last at one of our minimum or sub-minimum wage jobs like waiting tables or humping drywall? Would it take 15 minutes before we had to call the paramedics? Can we even imagine this guy mowing his own lawn or changing his own oil?

    At least back in the days of Versailles, the rich had the intellectual integrity to base their wealth and privilege on some divinely ordained right obtained by means of their aristocratic birth. Since that won’t fly anymore, the parasitic Capitalists and their hired mouths like Christie make the uproariously laughable claim that they are the hard workers in society.

    1. F. Beard

      I see pictures of Christie and I think:

      1) Spontaneous combustion
      or
      2) Gravitational collapse

      1. Walter Wit Man

        3) Reptilian Shape-Shifter

        4) One of those man babies–you know, holding a big lollipop and a wearing a cute cap.

        1. ambrit

          5) One of the Keystone Cops?
          6) The Demonically Posessed Giant Mr Bibb from “Ghostbusters?”
          7) President Romneys’ Secretary of Transportation?
          8) President Obamas’ Secretary of HUD?

    2. F. Beard

      “The real question is… will he run for President?”

      I would think running is out of the question for him.

      1. Accrued Disinterest

        …….will he waddle for president?

        Okay, making fun of a person for their physical attributes is immature at best, but in this swine’s case etiquette demands it, no?

        1. F. Beard

          Those advocating austerity should not even be fat, much less grossly obese!

          But yea, Chris Christie is a walking advertisement for the hypocrisy of the Republicans. Long may he waddle!

          1. ambrit

            Dear Klassy;
            Yes we are. Maybe that’s why the rabble rousing rightists are framing the ‘debate’ right now. Politics is a rough and tumble affair at best. Leave your better nature at the door and enjoy the show.

          2. F. Beard

            We’re better than this.

            Oh, come on. Aren’t we supposed to “judge a man by his character, and not the color of his skin?”

            Of course it could be that he has a medical problem but I Googled “Why is Chris Christie so fat?” and did not see an obvious reference to that.

            I don’t like him anyway but his weight cinches it.

          3. Klassy!

            Mighty Christian of you. There are many things to deride Christie for. I don’t think his weight should be included. Christie is fat of course, but I highly doubt that the guy would ever be svelte barring certain illnesses that rendered him anorexic or making weight control the central fact of his life.
            I used to have fat prejudice. Although I would never have gone as far as to mock someone for their weight, I could have some pretty smug thoughts. I’m not sure what flipped the switch for me. Part of it might have been a growing awareness that fat prejudice is often a stand in for class prejudice. Part of it might have been weariness of being around people that talk about their damn exercise and eating regimens, and part of it might have been the growing realization that it is just ridiculous to believe that everybody was built to be thin.
            There are plenty of good people that are fat, you know.

    3. ScooterLiddy

      500-pound man says Americans turning into couch potatos. Looks like an Onion headline.

  6. poison the scolex

    Carlyle’s IPO could be their last shot at getting out before the market crash, or it could be responding to peak prospects for BAH war profiteering (they have Syrian unlawful foreign-interference work, and it’s now clear that regime change is a long way off, hence years of crooked MIPRs for BAH’s war-crimes practice).

  7. b.

    “[I]f you had free reign over classified networks for long periods of time, and you saw incredible things, awful things… things that belonged in the public domain, and not on some server stored in a dark room in Washington DC… what would you do?” [We] know what the guardians of establishment liberalism would have had him do: Nothing.
    http://www.salon.com/2012/04/10/the_liberal_betrayal_of_bradley_manning/singleton/

    I suppose the difference between Stoller and me is that my definition of a liberal excludes people who support, or even just consider voting for, Obama, while his is more “inclusive”. Fair enough. I still think that it is the meaning of the word that anchors the debate, not the people who try to claim it for themselves – and especially not those that try to pin it on others. There are more name-called liberals than self-promoted ones, and many more self-promoted – and slef-promoting – than actual, and we will just have to find a way to name each set unambiguously before discussing the merits of liberal ideas, whether or not held by any of the above.

    1. withusoragainstus

      Liberal? Any rational definition of a morally-responsible human excludes people who give consent of the governed to an enemy of all mankind. Having breached Torture Convention Articles 12 and 16, Hague Convention (IV) Article 23 governing treatment of prisoners, and Article 1 of Hague Convention (III) relative to the opening of hostilities, President Obama has repudiated the most fundamental basics of humanity and, in the legal terminology, he is hostis humani generis, enemy of all mankind. No amount of feckless half-assed fake reforms can redeem inexcusable crimes.

      1. Synopticist

        Glenn Greenwald, the Koch sucker who didn’t even vote against George Bush.
        The guy who never writes about trades unions, or income-inequality, who says nicer things about Ron Paul than any Democrat?
        That bloke is a living, breathing libertarian wolf in sheeps clothing, a faux-progressive, right wing false flag operation.

        1. JerseyJeffersonian

          Uh, you didn’t notice that this article that you are fulminating against wasn’t written by Mr. Greenwald, but rather by a guest poster at his blog? I guess it would be too much to expect that you, well, actually read it then?

          You do know that Naked Capitalism is on the blogroll at Mr. Greenwald’s blog, yes? And you are aware that Mr. Greenwald by his own acknowledgment restricts his posting to areas in which he feels that has some expertise, no? So perhaps his including NC on his blogroll could be construed as indicative that he finds what is found here to be worthy of note, although he himself lacks the specialized knowledge on exhibit here to be beyond his area of competence. Mr. Greenwald and the posters at NC comment on matters of politics and economics, but in ways that comport with their own backgrounds and interests. Would you also expect your general practitioner to be capable of serving as your pet’s veterinarian, and acerbically criticize him if he demurred from treating your dog’s ills? Both general practitioners and veteranarians deal with aspects of the preservation and/or restoration of the health of multi-cellular organisms, so why the heck not, eh? It’s called division of labor; perhaps you’ve heard of it? As Clint Eastwood remarked, in his character of Dirty Harry, a man’s got to know his own limitations. Not bad advice, too seldom followed.

          Koch sucker, eh? Because he did some writing under the aegis of the Cato Institute, I suppose. Which is a libertarian organization, to be sure; but surprise, surprise, libertarians of both a right and a left persuasion don’t cotton to infringements on individual liberties, such as drug usage, which if my memory is correct, was the topic of his research piece for the Cato Institute in this instance, specifically a study of drug decriminalization in Portugal, and the effects that it had on that society. But I guess that makes him a Koch sucker. I imagine we’ll see Greenwald hard at work in his blog trying to avert the recall of Gov. Scott Walker, the Koch boyz evil minion; yep, that’ll be a dead giveaway that he’s applying suction with a will. Any day now…

          And while we’re at it, I do seem to recall that he had many, many nice things to say about George Bush. That must be another sign of his oh-so-sneaky false flag operations for the right wing, you betcha. That sly weasel. Bwaa hah hah.

          And the Ron Paul thing? Probably an incautious revelation of his Secret Mission on behalf of the 1%, all of those approving comments on some few of Rep. Paul’s positions. Or maybe, he says approving things about Rep. Paul’s positions on those issues instead of about the positions of Democrats because (wait for it…) he can’t FIND very many examples of Democrats who advocate for those policies. Stuff like drawing back from our Imperial ambitions and practices, or supporting the civil rights of citizens, and decrying the erosion of rights of privacy. Well, really, how can you call the Democrats hypocrites, now that it’s Their Guy who wants to forward those policies. That makes All The Difference. That Greenwald guy is such a bastard for pointing this out under the guise of intellectual consistency regardless of the political party of the incumbent administration. The nerve of that guy.

          Well, I suspect I probably wasted a lot of electrons here tonight. Maybe you ought to mosey on over to Balloon Juice; they get their Two Minute Hate against Greenwald going all of the time. The chief hater is that Angry Black Lady poster; perhaps you know her? You’d like her, ’cause she isn’t bothered by the facts either.

  8. Paul Tioxon

    State lotteries.
    As far as PA goes, we are now the 2nd biggest casino gambling state in revenue, after Nevada. We have passed Atlantic City. This does not count the state lottery tickets. Additionally, and please America and Manhattan, try to follow me on this one, all alcoholic beverages are sold through state owned stores, by state employees, bought by the state owned wholesale business, which is the single largest purchaser of booze in the world. It makes hundreds of millions of dollars for the state and even Corbett in his right wing mania fell over the cliff in defeat when he tried to privatize our beloved state store system. Only beer is sold through private enterprise by wholesale beer distributors, who can not sell wine or liquor, but, usually have lottery tickets for sale on site.

    To conclude, the state of PA makes over a $BILLION/yr in cash money from its monopoly on liquor sales, casino gambling and numbers/lottery operation.

    To privatize the management of the state lottery system will probably result in the loss of many of the 240 state employees who run the operation. The last private organization that ran the numbers in PA was organized crime, which has been reduced to the small potatoes of the sports book. I guess that will be taken on by the state in the near future. PA, home to the People’s Commonwealth of mutualized enterprise. Much better than property taxes, I guess?

    1. craazyman

      It’s Not Even Theoretical

      How can any of these dudes or female equivalent, whatever that is, dudettes, but that sounds like something out of a 1950s roller skating diner, understand money when they’ve never lacked money? how can they understand employment if they’ve never sweated a real job? how can they understand unemployment if they’ve never been unemployed? how can they understand wine if they’ve never been drunk and puked? How can they understand sanity if they’ve never been on the verge of dissolution? How can they understand anything if all they use are numbers and equations? It would be better just to walk the streets of Queens and look around.

      they can’t. that’s why this INET is Incapable of Nothing Except Theorizing.

      and at the end of all the theories and all the equations will be the same old chasm between part and whole, micro and macro, individual and species. and no equation can solve it. QED Captain of the Titanic. It needs a change of course.

      1. Valissa

        so true! LOL… time for some economics jokes…

        A physicist, a chemist and an economist are stranded on an island, with nothing to eat. A can of soup washes ashore. The physicist says, “Lets smash the can open with a rock.” The chemist says, “Lets build a fire and heat the can first.” The economist says, “Lets assume that we have a can-opener…”

        If all the economists were laid end to end
        a) it would be a good thing
        b) they would be more comfortable
        c) they would never reach conclusion
        d) all of the above
        e) none of the above
        f) they would point in different directions

        The First Law of Economists: For every economist, there exists an equal and opposite economist.
        The Second Law of Economists: They’re both wrong.

  9. jsmith

    Regarding Adelson:

    Sure, he’s the most prominent of Israel-first, American traitors as he’s a billionaire but let’s not allow him to become the focal point.

    ANYONE who promotes the interests of a foreign country to the detriment of the one he is a citizen of is a traitor to that country.

    Period.

    This means anyone associated with AIPAC, AIPAC-lite (J Street) or who promotes the interest of Israel to the detriment of the United States should be considered suspect of treason.

    It’s is bad enough that any person support a proto-fascist, apartheid, genocidal police- state such as Israel but to go that extra step and promote it over and above the well-being of your native country – even if it is itself a proto-fascist, police-state – is beyond conscionable.

    So, Rolling Stone, if you’d like to really call yourself edgy and relevant once again, I suggest you use the proper terminology concerning people such as Adelson: they are traitors to the United States of America and should be labeled that every time they are mentioned.

  10. MyLessThanPrimeBeef

    We are turning into a nation of couch potatoes.

    Not quite.

    Sadly, we are turning into a nation of blog-commenters.

  11. MyLessThanPrimeBeef

    Legalized gambling.

    States don’t have to turn to that.

    When the Biltmore Hotel near the Los Angeles Airport was torn down in 1969, a bill was found in its cornerstone. It was a $5 bill issued by the First National Bank of Hermosa Beach in 1922, after the Fed came into existence.

    Apparently, many cities and states throughout the US were authorized to print their own money, which was designed by the Treasury.

    There you have it – let cities, counties and states also become monetary sovereigns.

    1. F. Beard

      There you have it – let cities, counties and states also become monetary sovereigns. MyLessThanPrimeBeef

      That’s an idea so long as the money issued was only legal for the taxes of the respective issuer and not for private debts.

        1. MyLessThanPrimeBeef

          I call it MMMT – Micro Modern Monetary Theory.

          Even school districts can be monetary sovereigns through special assessments and permission from the Treasury.

          1. F. Beard

            However, once the “elastic money supply” is abolished in favor of steady growth in the money supply without price inflation then local governments would not have to resort to issuing their own money.

          2. MyLessThanPrimeBeef

            We can then count on private corporations to issue as many common stock shares as possible, especially on days after they pay their employees.

            But if you are like Yves and work as a sole proprietor, you can’t issue your own money.

            What a great country…for corporations.

          3. F. Beard

            But if you are like Yves and work as a sole proprietor, you can’t issue your own money. MLTPB

            Who said that? Anyone should be allowed to issue private money for private debts. The problem is getting someone to accept it.

          4. F. Beard

            We can then count on private corporations to issue as many common stock shares as possible, especially on days after they pay their employees. MyLessThanPrimeBeef

            You forget that the workers would be co-owners of the corporation. Why would they shoot themselves in the foot?

            Ya know, you play the Devil’s advocate so often, I wonder if he has you on a retainer oh innocent “wouldn’t hurt a vegetable” you?

          5. MyLessThanPrimeBeef

            But if you are like Yves and work as a sole proprietor, you can’t issue your own money. MLTPB

            Who said that? Anyone should be allowed to issue private money for private debts. The problem is getting someone to accept it.

            Anyone? When you are 18 and just finish school?

          6. MyLessThanPrimeBeef

            We can then count on private corporations to issue as many common stock shares as possible, especially on days after they pay their employees. MyLessThanPrimeBeef

            You forget that the workers would be co-owners of the corporation. Why would they shoot themselves in the foot?

            Ya know, you play the Devil’s advocate so often, I wonder if he has you on a retainer oh innocent “wouldn’t hurt a vegetable” you?

            ——

            You like killing vegetables?

            I guess the answer to your question is who controls the corporation from the start. Management can always issue themselves more shares to themselves.

          7. F. Beard

            You like killing vegetables? MLTPB

            No, I like eating them.

            Management can always issue themselves more shares to themselves. MLTPB

            The management is subject to the stock holders’ wishes. And the corporation had better be well run if it expects its common stock to be accepted as money. Remember, a big part of the reform I advocate is to abolish the counterfeiting cartel so corporations would be MUCH more dependent on issuing stock to finance themselves. And that’s not a bug – that’s a feature.

          8. MyLessThanPrimeBeef

            Can you take your private money issued by some blogger in Texas and use it in a casino in Pennsylvania?

            How do you plan a vacation?

          9. F. Beard

            You could choose to use fiat for all debts, not just government ones. The use of private money would be purely optional.

          10. MyLessThanPrimeBeef

            The management is subject to the stock holders’ wishes. And the corporation had better be well run if it expects its common stock to be accepted as money. Remember, a big part of the reform I advocate is to abolish the counterfeiting cartel so corporations would be MUCH more dependent on issuing stock to finance themselves. And that’s not a bug – that’s a feature.

            Just how do you prevent someone from setting up a corporation where, even when they have to issue shares to pay their workers, the management always controls how the corporation is run by making sure they have a lot more shares?

          11. MyLessThanPrimeBeef

            You could choose to use fiat for all debts, not just government ones. The use of private money would be purely optional.

            ————

            When we all shop online, how much use private money will be?

            Would you take some private money in Oregon before you UPS the product to him?

          12. F. Beard

            Being deliberately obtuse, are you? Ever hear of Bitcoin?

            And why is that even your concern? If you don’t wish to use private money, then don’t.

          13. MyLessThanPrimeBeef

            Bitcoin – it will succeed only by working with regulation and with the government.

            What about, as a produce wholesaler, getting your broccoli shipment from California? All those interstate transactions, even intrastate, heck, even cross-town transactions, you will have to go with fiat money.

          14. MyLessThanPrimeBeef

            Between an average 45-yr person and an average 16 yr old, who do you think can issue more private money?

            The concern here is the scheme discriminates against the young, the have-nots.

          1. MyLessThanPrimeBeef

            Are you saying powerful people’s private money will be more acceptable than a poor worker’s private money?

            What is here to say one’s more acceptable than the other?

          2. F. Beard

            Why should I accept ANYONE’S private money unless I get a share (co-ownership) of the assets backing it? Remember, I can always use fiat for all debts if I choose.

            Don’t like the idea of forcing the rich to share wealth and power? Well, they would have to share without the counterfeiting cartel to borrow from, wouldn’t they?

          3. MyLessThanPrimeBeef

            So, if the guy has a lot of shares in GLD, the gold ETF, you would welcome his money to share his wealth but not a poor worker’s private money?

          4. MyLessThanPrimeBeef

            Will you reject his gold bars but accept his private paper money backed by his gold assets?

          5. F. Beard

            Why the heck would I want gold based money?

            That’s dumb.

            Instead, I would accept the common stock of a company that produced popular goods and services and that had a good reputation.

          6. MyLessThanPrimeBeef

            So, if you work for a popular, reputable barber, your employer’s private money is good for about 2 blocks, maybe.

            Now, if you want to visit your in-laws in another state, you will have to trade in your barber’s service-backed private money for something acceptable in another state. How much can you get? Are you looking at a 20, 30 or 50% discount for such an illiquid, but locally popular and reputable private money?

          7. MyLessThanPrimeBeef

            Why the heck would I want gold based money?

            That’s dumb

            —-

            Why should I accept ANYONE’S private money unless I get a share (co-ownership) of the assets backing it?

            Is this your own answer?

          8. MyLessThanPrimeBeef

            Instead, I would accept the common stock of a company that produced popular goods and services and that had a good reputation.

            —–

            I think you should go with fiat money from trustworthy governments.

          9. F. Beard

            I think you should go with fiat money from trustworthy governments. MyLessThanPrimeBeef

            I probably would – knowing that the existence of genuine private money alternatives would insure that fiat was a good value. That’s the reason, btw, that I don’t comparison shop much because I know that competition minimizes price differences.

          10. F. Beard

            I refuse to do ALL your creative thinking and problem solving for you. I suggest you heed this instead:

            But if any of you lacks wisdom, let him ask of God, who gives to all generously and without reproach, and it will be given to him. James 1:5

          11. MyLessThanPrimeBeef

            Don’t go just yet.

            Would you take private money from the maker of Monopoly, Hasbro?

          12. MyLessThanPrimeBeef

            Maybe the key is just virtuous men in government to make it trustworthy. Then its fiat money is as good as those from private reputable companies with popular products and services which again requires virtuous men in the private sector.

          13. MyLessThanPrimeBeef

            I refuse to do ALL your creative thinking and problem solving for you.

            —-

            I just think when your scheme robs working men and women of their purchasing power beyond the few blocks of their workplaces, you should do some thinking to iron that problem out.

          14. F. Beard

            Well, thanks for admitting that you cannot seriously refute what I’ve been saying.

            We’re done. Anything you have to say in the future will fall on my deaf ears though it be the cure for cancer!

          15. MyLessThanPrimeBeef

            Thank you though.

            Now I know that

            1) fiat public money is not just for government taxes. It’s good for everything.

            2) Only some corporations can print acceptable private money.

          16. MyLessThanPrimeBeef

            We’re done. Anything you have to say in the future will fall on my deaf ears though it be the cure for cancer!

            —-

            My door is always open.

            You’re welcome any time, if I am not busy with work or other prior commitments.

    2. ScottS

      You don’t need state-run printing presses. Just open a state bank like North Dakota. Have it buy state and muni bonds to keep us from becoming like Greece. Done.

      1. ScottS

        Here’s a good quote from http://motherjones.com/mojo/2009/03/how-nation%E2%80%99s-only-state-owned-bank-became-envy-wall-street about what the Bank of North Dakota is:

        Eric Hardmeyer: It was created 90 years ago, in 1919, as a populist movement swept the northern plains. Basically it was a very angry movement by a large group of the agrarian sector that was upset by decisions that were being made in the eastern markets, the money markets maybe in Minneapolis, New York, deciding who got credit and how to market their goods. So it swept the northern plains. In North Dakota the movement was called the Nonpartisan League, and they actually took control of the legislature and created what was called an industrial program, which created both the Bank of North Dakota as a financing arm and a state-owned mill and elevator to market and buy the grain from the farmer. And we’re both in existence today doing exactly what we were created for 90 years ago. Only we’ve morphed a little bit and found other niches and ways to promote the state of North Dakota.

        Sounds familiar?

  12. Hugh

    Overhaul of mortgage industry? The Hill headline is way overblown.

    This is what the CFPB is proposing:

    “if homeowners get behind on their mortgage and face foreclosure, the servicer would be required to make a “good faith” effort to contact the borrower and explain the foreclosure process, as well as provide counseling options.”

    Anyone else notice how laughably antithetical good faith and mortgage industry are? And then there is

    “servicers would have to address found errors within 30 days, or an even shorter timeframe if a foreclosure or payoff is at stake”

    Found errors? Found by whom? More importantly, looked for by whom? Why not simply require that servicers must verify that their documentation is accurate and authentique?

    The article also repeats Obama’s characterization of robo-signing as “plainly irresponsible” and not highly illegal. That right there gives you the gist of this piece.

    1. LucyLulu

      ““if homeowners get behind on their mortgage and face foreclosure, the servicer would be required to make a “good faith” effort to contact the borrower and explain the foreclosure process”

      So now they’d improve by making a “good faith” effort to contact homeowners before foreclosing? And if they made contact, comfort the homeowner by explaining what the homeowner could expect to be done to them?

      Ahhh, we can all rest easy now………

  13. Hugh

    Anyone remember the days when Apple customers would defend the company’s overpriced products and call it the virtuous megacorp, not like evil Microsoft with its inferior and considerably less expensive ware? I always thought they missed the point. Megacorps are inherently evil. Apple with its prison-like factories in China, its crap, non-replacable batteries that give their products a user-life of about 3 years, still overpriced, is as evil as megacorps get. The price fixing and monopoly practices with regard to copyrighted material is just part and parcel of this. My image of Apple is not so much of the little, or maybe not so little, company that could but is captured rather by the story of Steve Jobs going all Galt on Obama, about as corporate friendly a shill as ever existed, about American workers being paid too much. Yeah, that’s your Apple for you, rotten to the core.

    1. Valissa

      Apple adjusts to a new reality… Apple Snubs Firm That Discovered Mac Botnet, Tries To Cut Off Its Server Monitoring Infections http://www.forbes.com/sites/andygreenberg/2012/04/09/apple-snubs-firm-who-discovered-mac-botnet-tries-to-cut-off-its-server-monitoring-infections/
      Sharov says he can understand Apple’s brusque response to his researchers’ work. “These are not pleasant days for them,” he says. “They’re not thinking about us. The safety of Macintosh computers is going down very quickly, and they’re thinking what to do next. They’re thinking about how to manage a future where the Mac is no longer safe.”

  14. CB

    Don’t underestimate Christie. He sometimes comes off like something out of “Goodfellas” but you’re kidding yourselves if you think he can’t run for president. Who wins has everything to do with who’s competing, as this season’s Republican candidates demonstrate: to this point, Obama, who hasn’t done much to warrant re-election, appears to have lucked into incompetent competition. Christie is smart and persistent, extremely fluent and articulate. When he’s not being snotty, of course. His brat moments get a lot of air time, but he actually has much more to say in another demeanor. He was discounted early in NJ. Corzine is an inept politician, to say the least, and Chrisite persisted and prevailed. Christie has limitless ambition and he’s only 49. Whether he gets to the next level depends entirely on circumstances, including who would run against him and the zeitgeist at the time.

  15. propertius

    Chris Christie Says We’re Turning into a Nation of Couch Potatoes

    That may be the single funniest sentence I’ve read this year.

      1. MyLessThanPrimeBeef

        It’s speculated that Peak Governor exists.

        Hopefully, he gets slimmer after this.

    1. ginnie nyc

      Yes, Wendy, it is actually true. A few days ago on NC there was a link about how destitute seniors are still saddled with ancient school loan payments, from graduate school or before. They aren’t dismissible in bankruptcy, which was confirmed by a Supreme Court decision in 2005 or 2007, I believe. This also applies to the disabled – you’re still on the hook for school loans even though work income has ceased.

  16. MyLessThanPrimeBeef

    Are you still there, our vegetable eating commenter?

    I have another question.

    1. ambrit

      Dear Beard;
      A friend of mine once remarked that ‘Close Encounter’ cases sugest the Aliens are acting like Grad Students. Also, even super techies like the Star Trek crew came up with the Prime Directive, noninterference. Consider too, C.S. Lewis’ ‘Perelandria’ books. Or Clifford Simaks’ “A Case of Conscience.” Finally, consider the consistant outcome here on Earth of contacts between “Primitive” and “Advanced” cultures. The Primitives mimic the Advanced and, in the process, lose their own cultural heritage. Truly enlightened Aliens would avoid all direct contact, for our safety.
      Cheers.

  17. Charles Slakan

    Rush is not only a TRAITOR who said right after Obama’s Innauguration that he hoped our nation would fail and a liar who said before the Innauguration that if Obama was elected he would leave our Nation.
    He has still got his rump parked in Florida from what I hear.
    A fat white man that was writing his own prescription for a FDA controlled substance Oxycotene and had he been poor or black , he would have been in prison, not doing radio shows.
    There are people in prison for marijuana joints.
    Today rush remarked that Obama was against the Bush tax cuts and the 1% that benefitted.
    He then said Obama probably hates the Founders of our nation who were largely 1% ers. What he didn’t tell his gullible audience that the Founders did not get tax cuts and more than not the idea of such a thing would have made most of them throw up. That is the idea of accepting welfare for their businesses.
    Rush proceeded to another lie, saying 8 million jobs were created, does he mean for illegal workers, low paying service jobs because his corporate buddies took the tax welfare and then shipped jobs to China and Mexico and anywhere but here in the USA.
    Bush lost over 450,000 jobs every month he was in office.
    And ended up steering the ship into the worst financial predicament in our history. Bush Socialized the banks and AIG no strings of course.
    Rush then compares the unemployment during the artificially ballooned Bush economy to Obama’s.A child knows once the domino starts to fall,it takes awhile before they all start falling.
    Rush who loves Reagan an adulterer just like he is.
    But what he doesn’t want to admit, is that reagan actually CUT and RAN, and Reagan raised taxes more than once.
    JFK was not a movie star. Many came to Reagan’s funeral not because his presidency, he left record deficits that he created, yes, much like both the Bushes.
    But because he was a movie star.

Comments are closed.