Friday, October 17, 2014


I had no idea I was being read in the White House and more importantly by the editorial board of the Wall Street Journal!  Copy cats!  Their leading article today was on Jacob/Jack, killer of businesses.  Oh well, better late than never.  Next time I'll give them a heads up so we can be on the same page.

The White House was busy as well.  Responding to my claim that we were witnessing very little leadership in regard to the economy and the Ebola outbreak, The Leader today announced the appointment of Ron Klain as the Ebola Tsar.  Now Ron Klain goes back a ways.  He was the chief of staff to Al Gore and the guy in charge of the recount (he lost primarily because he limited the counties recounted).  Before that he was Joe Biden's head guy when Uncle Joe was in the Senate.  Klain ran Biden's attack of now-Justice Thomas (he lost).  He ran Uncle Joe's Presidential campaign (he lost) and then became Chief of Staff to Vice President Biden where, among other things, he was the point guy for America's investment in Soylandra (he lost about a billion of the taxpayer's money).  In D.C. circles he is know as being very consist ant and a son-of-a-bitch of a political hack.  With the nation half terrified (probably without much reason) over this Ebola thing, he seems like the perfect choice for the position of Tsar.  He can take some of the pressure off the head of the CDC and allow him to get back to the business of banning the sale of 32 oz. bottles of soft drinks but preserving Americans' rights by allowing them to purchase two 16ozers at the same time as he did in New York.  As I have said, you can't make this stuff up.

Markets rebounded today for absolutely no reason but it was good to see.  This thing is more and more about Europe, gang, and the Euros, bless them, aren't making things any easier.  Relations between Germany on one hand and the entire southern cone led by France and Italy are at the lowest point in years.  The issue?  Fiscal stimulus vs. fiscal conservatism.  Economic restructuring vs. same old, same old.  Don't need me to tell you about it.  However, behind all of this but looming very large is the stress test results which I though were scheduled for next week but apparently I was in error.  They will be soon, however, and Brussels and the EBC are making a big thing of the fact that for the first time there will be a real transparency in the conditions of the financial sector.  Now as I have said the previous stress tests were jokes but I also have to wonder if "real transparency" is a completely good thing given what I feel is the true state of European banking.  I await the result.

Finally, I have been asked why I haven't commented on the AIG trial.  Simple, Don't know what happened, don't understand what is being alleged and don't care.  There are more important things: the World Series starts next week, the Premiership is back in business and there is one BIG game tomorrow in college football.  Let's keep our priorities straight.

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