In spite of sequester the computer still works and I even managed to fill up the tank this morning, at a high price I might add, so let’s review the thoughts, comments and musings of the day…..
Why didn’t anyone at last week’s testimony of Bernancke ask the most salient question? He should be made to answer under oath what the interest rates would be for US bonds if the Federal Reserve quit buying any of them. Since the Fed is buying approximately 80% of all such bonds their price and interest rates are being manipulated outrageously. The Fed is in fact cornering the market on such bonds. We all need to know what the true “market” value is for such US debt. That false and fraudulent market manipulation is simply allowing the US to run deficit and higher debt ceilings as the Fed prints up new money to “buy” the bonds. The market for US debt is phony now. We all need to know what people around the world would loan and what interest rate they would demand for our debt. Those rates and market demand drive everything in our economy from credit card debt and car loans to house mortgages. The cost of profligacy can only be postponed, not eliminated. Yes, because of the Fed we have very low interests costs now. But that doesn’t mean we’ll not have to pay for the borrowing later when interest do go to a real normal market driven level and spike even higher to compensate for the higher debt level of your prior profligate ways.
Folks say the Republican party is absolutely doomed because of demographics. Assume they are right. When the Democrats have won everything there is to win and control the political process nationally and even in most of the States one wonders what their immigration policy will be then. After all at that time they won’t be needing any new voters coming to their clarion call. They will have won. Who will care about new votes? What incentive will they have for new immigrants and of course at that point the unions will be riding very high and they certainly won’t be promoting any new immigration platform because their whole purpose is to protect union jobs not open them to competition from immigrants. Be interesting to see how that turns out, if the predictions are true of complete Democratic dominance.
Maxine Waters says sequester will cause us to lose 170 millions jobs. Hmmm, didn’t realize we had that many 12 and 10 years olds in the workforce. Last I heard there were only about 150 million workers of all types in our economy. But facts and logic never get in the way of a good Leftist rant. Just think you and I pay her 174K a year for that brilliance plus whatever under the table profits her hubby makes off of his banking investments from regulators that get calls from her.
Greece established colonies around the Med. One such was Marseilles. They called in Massilia. About the time of Alexander the Greek, one Pytheas sailed from there for the open sea beyond Gibraltar to search for tin and amber from England. It had been the dominance of the Carthaginians for centuries. He was a merchant and obviously a true explorer. He worked his way up the west coast of Europe from Portugal to France then across to Cornwall where the tin mines were. He wrote of an ancient monument that may well have been Stonehenge and gave a description of the land and his climate and people. He sailed north beyond the Scottish coasts and went to Iceland or Norway although the descriptions are too vague to specify. He was far enough north to describe sea ice and pack ice floes. He wrote of the nights being only a few hours long. What is amazing is that he made in and essentially open boat all that way and returned through the English Channel and home. Julius Caesar may have had access to his writings to influence his decision to make a reconnaissance in strength into England almost three centuries later. No magnet, no GPS and no maps or sea charts. Pretty remarkable feat.
North Korea makes another threat to nuke us because we are hostile and our sanctions amount to war on their people. That Kid they have running the place must be as dumb as he looks and he sure looks dumb. I don’t know why we don’t take out all their nuke facilities now, right now. Yes, there would be the usual hue and cry from certain quarters around the world. Even China would verbally raise hell but the truth is that everyone would be relieved. The Chinese, Russians, Japanese and the South Koreans would love to have that threat removed from their back yard. The world would be a safer place. Nuclear bombs shouldn’t be in the hands of dolts and guys who think it is cool to hang out with the likes of Rodman. Having access to nukes is way beyond his pay grade. It makes no sense for the rest of us to suffer catastrophic harm because of his schoolboy antics.
All our politically correct and civil rights laws could be summed up in a short phrase from Proverbs: “I will render to the man according to his work”. Proverbs 24/29. We really don’t anymore guideline than that.
“Take heed lest thou become a Caesar indeed; lest the purple stain thy soul”. Marcus Aurelius. Roman Emperor and philosopher. 180 AD. http://www.olcranky.wordpress.com