The FED'S announcement of QE-2 was not exactly a surprise, but as with all official 'announcements' these days, it was a half-truth/half-lie depending upon whether you are a "progressive" or fiscally sane.
QE-2 was our Zimbabwe moment. It amounts to almost $1 trillion and not the mere $600 million we're being told. The ongoing efforts by the FED were....well, too bothersome and pesky to trouble the little people with. It might upset them to know that the 'real' number is at least $900 million.
QE-1 at a nominal price tag of $1.7 trillion didn't work. QE-2 at $0.9 trillion won't work, either. Stupidity is repeating your actions and expecting different results.
Looking at results to date, the US Dollar has lost 50% of it's purchasing power since 1986. It's dropped 11% just since June of this year. Some really smart people are saying there is more ahead....maybe a further 20% decline. Our stock markets may be UP, but with the currency melting DOWN, it's a fool's game to think 'whee, we're getting rich!' when the 'real' value of US-denominated assets is sinking like a rock and we should be realizing 'we're freaking doomed!'
Let's face it. Zimbabwe's stock exchange also soared, up until the Z$ became worthless leaving many Z$-trillionaires broke. I'm looking a the Z$ 100 Trillion Dollar note on my wall now, and wishing I had an eqiually defunct Weimar note to frame with it....along with a Federal Reserve Note. That would complete the visual trifecta of Keynesian folly!
Saturday, 6 November 2010
QE-2 was our Zimbabwe moment.............from Rico
News............
a little dose of reality & fact for lindsey graham, who could use it ...
Amazing Sacrifice
We are not for sale
We're All Bigots Now
John Kerry’s bucks stop where?
Army cadets banned from carrying rifles on Remembrance Day parade because it 'glamorises' weapons
Illegal immigrants busted at flight school
Earthquakes dog Clinton on overseas trips
The Hippy and the Expressionists: Investigators Zero in on Massive Art Forgery Scandal
The sick Iraqi terrorist plot to bomb a U.S. plane with exploding DOGS
Prince Andrew in angry tirade against 'hopeless' defence chiefs who sit on their 'fat backsides'
TSA Fondles Women and Children Refusing Airport Naked Body Scanners
Radioactive rabbit trapped, killed at Hanford
Nabbed! Man boards flight in 'elderly' disguise
Obama Tells Left-Wing MoveOn: I Will Fight GOP
Final deal to build Europe's A400M military plane
Nigel back as UKIP Leader
Barack Obama is doomed – enter Mrs Clinton
Let them eat cheese: Irish government hands out block of cheddar to every family
Passengers trapped and injured after cement lorry falls onto train
Former army captain accused of torturing Brazil´s president-elect Dilma Rousseff
Election 2010 And The Unmentionable Sailer Strategy: White Vote Still Key
and finally.........
Breaking up is hard to do by little Jimmy May
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Friday, 5 November 2010
Solution to Al Qaeda air freight plot chaos in the international cargo freight system
At the International Air Transport Association meeting in
Germany this week, the association's top official, Giovanni Bisignani,
acknowledged serious shortcomings in the industry's capacity to screen
cargo. "There is no technology today that governments have certified to
screen standard size pallets and large items," Bisignani said.
But "Automatic Explosive Trace Detection" technology, has already
been tested and approved in Israel by Israel's ISA (Shin Bet, GSS). The technology can be scaled to size so that
entire shipping containers, pallets, and luggage can be automatically
detected for explosives.
More at DoubleTapper
CORONADO, Calif. (Oct. 28, 2010) Students in Sea Air and Land (SEAL) qualification training navigate the surf off the cost of Coronado during a maritime operations training exercise. The 26-week program takes students from a very basic level, to a more advanced degree of technical and tactical operations. The Navy SEALs are the maritime component of U.S. Special Operations Forces and are trained to conduct a variety of operations from the sea, air and land. (U.S. Navy photo by Mass Communication Specialist 3rd Class Blake Midnight)
H/T Marc
News.........
Global Warming Hoax Weekly Round-Up, Nov. 4th
Conservative Senator, Usual Opposition Suspects Meet With Imam Zijad Delic & Muslim Brotherhood Student Association
Notre Dame Sees Drop In Donations Since Hosting Obama
U.S. Border Agents Find a Sophisticated Drug Smugglers' Tunnel the Length of Six Football Fields Linking Southern California With Mexico
Obama visit criticised for 'over-the-top' spending
Why Whitman lost
Obama must slay the job-killing beast
N Ireland lawmakers deemed too fat for Afghan trip
U.S. dollar printing is huge risk -China c.bank adviser
Deadly Dawn
BAE 'held a gun' to Prime Minister's head over aircraft carrier that will never carry an aircraft
New York to Sydney in just 2hrs 30mins
Qantas A380 engine blowout 'caused by faulty design'
Berlusconi faces security inquiry over his sex life
'Obama Comes Across as Cold, Arrogant and Elitist'
and finally........
10 toys that will permanently screw up your kid
Cheerleaders Wearing Knee High Socks
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Thursday, 4 November 2010
Brutally Crushing Progressives
Cross-posted from American Power.
*****
As expected, conservatives crushed the left on Tuesday (and for good reason). The indicators are everywhere: Republicans picked up 60 seats in the House, 6 seats in the Senate, a majority of governorships, and a whopping 680 seats in state legislatures across the country. The headline from this morning's New York Times really captures the scale of victory: "Decisive Gains at State Level Could Give Republicans a Boost for Years."
But in another indicator of just how brutally progressives got slammed Tuesday, it turns out that the far-left Progressive Change Campaign Committee put out a list of 95 progressive Democrats who pledged to back Net Neutrality --- legislation that would regulate Internet providers and perhaps open the door to leftist censorship of competing viewpoints. And while this may be some freaky quirk, every single one of those progressive Dems lost election: "95 Candidates Who Pledged Support For Net Neutrality Lost On Tuesday."
Adam Green is the co-founder of PCCC. Interviewed by MSNBC's Lawrence O'Donnell at the clip, Green offers the classic leftist talking point claiming the reason Dems got hammered is that they weren't socialist enough. And Red State has a post-election quote from Green making the case for a "bolder" Democrat agenda:
What’s left to say after this wipeout? - Adam Green, co-founder of the Progressive Change Campaign Committee, says this: “Democrats lost because party leaders never truly fought for popular progressive reforms like the public option and breaking up the big banks, leaving voters uninspired to come to the polls and vote Democratic…. Progressives will be stepping up and insisting that the Democratic Party be bolder, not weaker. We will demand boldness, reward bold leaders, reject ‘leaders’ in name only, and hold Democratic politicians accountable when they don’t fight for popular, progressive change. In short, these next two years, progressives will push Democrats to fight strongly for popular progressive reforms — and save the Democratic Party from its own incredible weakness that savaged Democratic candidates in 2010.”And again, listen carefully to Green at the clip above. He claims internal PCCC polling in 2009 had 80 percent of Dems, 70 percent of independents, and 50 percent --- that's right, 50 percent --- of conservatives backing the public option. Who knows? Who cares? To rely on some iffy poll sample from over a year ago to bolster the case of an even more progressive Democrat Party in the wake of the most epic electoral repudiation in decades is suicidal. This is all of a piece with the cognitive dissonance that's inflicted leftists since Tuesday. For example, at R.S. McCain, "Democrats in Denial." And George Will, "A Recoil Against Liberalism" (via Memeorandum).
And more of it at Daily Kos, "Rejecting Liberalism":
Ignore the pundits and remember the battles over the issues, including the battles that never happened. The voters didn't reject a liberal agenda because they didn't see a liberal agenda. Many wouldn't know what a liberal agenda looks like, because no one has bothered to show them one.Hey, keep it up Kos-commies. That'll only pump up GOP chances even more heading into 2012. See, "Progressives Increase Their Power Over Obama."
*****
Cross-posted from American Power.
Crushing the Obama Cult
"Obama Cult Crashes in Blaze of Creepiness and Confusion."
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ONE FOR OUR SIDE
A senior Al-Qaeda terrorist identified as 27-year-old Mohammed Jamal a-Nahmnam was assassinated in Gaza yesterday via car bomb. The IDF, working with the Israel Security Agency (ISA), acknowledged the hit . . .
This is what you call a good start . . .
Details . . . . . . . . . . . . . STORMBRINGER
News..............
Barack Obama is still your sworn enemy ...
Obama's Next Worry: A Restive Left Flank
Voters ban judges from using international law
A Settling of Accounts with Mr. Perfect
Study: Crime leaves alone homes with big trees
LHC researchers 'set to create a mini-Big Bang'
Outback Australian town offers $1 homes for rent
Qantas grounds A380 fleet after mid-air emergency
Al-Qaeda terrorists linked to plane bomb plot operating in Britain
Coconuts removed from trees in preparation for Barack Obama's India trip
'Mountains' of rubbish hauled out of China's Three Gorges Dam
The midterms may have saved a superpower: Americans say no to US decline
New Zealand aims to be smoke free by 2025
Islamist insurgents in Iraq threaten wave of attacks on Christians
and finally......
Thurs morning S&M links
Album of the Year: The Chelsea Pensioners- Men In Scarlet
It was a privilege and and honour to spend time with these gentlemen when I was younger.
Buy it here
Meet the Chelsea pensioners HERE
