Thursday, October 17, 2013


Who cares.  This chapter of the long-running joke is over only to be resumed in three months time.  But there must be winners I suppose, so let us say the administration won.  Thank goodness for that.  Now we have a health plan affecting 18% of the nation's GDP that appears not to work, a tax policy in disarray, immigration reform stalled, financial reform, as witnessed by the Creature known as Dodd/Frank, no more than 34% complete with parts that don't track, a NLRB whose actions over the past 18 months are about to be deemed unconstitutional, regulators running rampant--except for poor Ms. White who just got her head handed to he by Marc Cuban of all people--and a steadfast and universal attack on all things considered financial by both the states and the feds.  Can you imagine what things would be like if the administration hadn't won?  Whew! Did we dodge one there.

Despite the fact that nothing has changed and probably gotten worse by the blood that was spilled, the talking heads still remain focused on what damage to "growth" was done by the argument over the past three weeks.  If they want an answer give them "none."  The state of the country is a mess and the concern and lack of confidence in the economic future never higher, at least here in the fly-over zone.  The last three weeks will be forgotten except for political talking points.  There are real problems affecting real people out there with no one paying attention.

Anyway, it's over for now and perhaps we can get back to the real world wherein today, we find J.P. Morgan in an unprecedented step, admitting to wrongdoing in the "London Whale" affair.  The admission, for what the enforcers have striven for years could well be a game changer from the standpoint of the conduct of business and the real costs thereof.  It's something I wish to explore but right now I'm in the midst of cooking for a hundred visitors and tailgaters for Saturday's game.  Until tomorrow then.

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