Archive for the ‘economic ignorance’ Tag

How An Ayn Rand Acolyte Tanked Sears   Leave a comment

Next time someone tells you how good of a philosophy Ayn Rand had, point them towards the mess that Eddie Lampert – he of the John Galt, Harvard MBA style – took two pretty successful companies, Sears & Kmart and ran them into the mo-fo’n ground.

Just read the Crooks & Liars article for all the gory details..and trust me, they’re gory.

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CNBC Host Destroys Rick Santelli On-Air Following Another Santelli Rant   Leave a comment

About…damn…time!

You remember Rick Santelli? He’s the sonuvabitch who basically got the Tea Party rolling after a particularly odious rant on the floor of the Mercantile Exchange in Chicago back in 2009…well, Monday he had another one of those odious rants, only this time CNBC anchor Steve Liesman called Santelli out on the air following Santelli’s rant, telling Santelli that “no piece of advice Santelli’s ever given on-air has ever worked”.

My question here is this: when Wall Street starts up on Tuesday, who do you think is going to have been shown their walking papers at CNBC – Santelli or Liesman? In the real world, it would likely be Santelli..unfortunately, as long as that odious runt’s been around, what d’ya think the odds are of that happening?

Posted July 14, 2014 by Matthew in Uncategorized

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If You Can’t Win, Break It…   Leave a comment

at least that’s what billionaire Silicon Valley investor Tim Draper thinks in his asinine proposal to break up California into six smaller states…someone should really ask him, “Sir, why do you hate democracy?”

If you asked Tim Draper why he thinks it’s such a terrific idea to split California into six separate states, he’ll give you a bunch of argle-bargle like he did Fox News, about how the state is ungovernable, the issues are impossible for Sacramento to manage, and more.

Let’s just call bullshit on this right now. Mr. Draper doesn’t like the fact that he has to pay taxes in this state for services that do not directly impact him. All one has to do is have a look at his proposed divisions to understand exactly what he’s doing. Shall we begin with the newly-created state of Silicon Valley?

Peter Theil, the oligarch PayPal made, is completely on board with the whole idea of Silicon Valley seceding, along with many other young, too-rich-too-soon techie types who toy with ideas like offshore platforms for tech businesses so they can duck taxes and regulations.

Draper has come up with an angle to snow Californians. We’re all supposed to be excited at the prospect of having 12 California senators instead of 2. Never mind that he’s hoping at least six of the ten would be conservative or libertarian. That needn’t be mentioned.

Like it or not, it’s likely he’ll manage to get it on the 2014 California ballot, since the Secretary of State approved the language and gave her go-ahead for Draper to gather signatures. He needs 808,000 or so by July, which won’t be a problem for a billionaire who can toss around a few thousand for professional signature gatherers.

This is a secessionist measure and nothing more. I don’t doubt Draper’s sincerity even if he does wrap his greed in a PR campaign clothed with paeans to how much he cares about the voice of Californians. For a guy who inherited all of his wealth to spend it trying to destroy the very state that gave him an opportunity to keep it and make it grow, he’s sure got a twisted perspective.(Crooks & Liars)

…and people wonder why I’m increasingly becoming more and more a supporter of porgressive, if not socialistic, ideas…this is reason #I’ve Lost Count By Now.

Nervous Billionaire Fears Progressive “Kristallnacht”   Leave a comment

Given the historical significance of the term used by billionaire venture capitalist Tom Perkins in a recent Wall Street Journal piece, I have to wonder if Perkins isn’t so high on his own supply that he forgets that a good chunk of the blame for why America’s in the shape it’s in at present is because of people like him…quoting:

Regarding your editorial “Censors on Campus” (Jan. 18): Writing from the epicenter of progressive thought, San Francisco, I would call attention to the parallels of fascist Nazi Germany to its war on its “one percent,” namely its Jews, to the progressive war on the American one percent, namely the “rich.”

From the Occupy movement to the demonization of the rich embedded in virtually every word of our local newspaper, the San Francisco Chronicle, I perceive a rising tide of hatred of the successful one percent. There is outraged public reaction to the Google buses carrying technology workers from the city to the peninsula high-tech companies which employ them. We have outrage over the rising real-estate prices which these “techno geeks” can pay. We have, for example, libelous and cruel attacks in the Chronicle on our number-one celebrity, the author Danielle Steel, alleging that she is a “snob” despite the millions she has spent on our city’s homeless and mentally ill over the past decades.

This is a very dangerous drift in our American thinking. Kristallnacht was unthinkable in 1930; is its descendent “progressive” radicalism unthinkable now?(Wall Street Journal via Crooks & Liars)

Aww, I feel so sad for Mr. Perkins….not really; me thinks Mr. Perkins either suffers from a massive case of cognitive dissonance OR from cranio-rectal inversion (or both).

Posted January 26, 2014 by Matthew in Uncategorized

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Morgan Griffith Is An Idiot…   Leave a comment

…for comparing the looming debt default to the American Revolution...quoting:

Rep. Morgan Griffith (R-Va.) compared the looming default to the American Revolution on Saturday after a meeting with House Republicans.

The Hill reports Griffith suggested that even if it resulted in a severely damaging default, the House should reject an unfavorable agreement from the Senate.

“We have to make a decision that’s right long-term for the United States, and what may be distasteful, unpleasant and not appropriate in the short run may be something that has to be done,” Griffith said, according to The Hill. “I will remind you that this group of renegades that decided that they wanted to break from the crown in 1776 did great damage to the economy of the colonies. They created the greatest nation and the best form of government, but they did damage to the economy in the short run.”(Huffington Post)

For the love of God, sir, please take your tinfoil cap off; I believe its’ all-but-extinguished what rational thought you might have possessed at one time. Someone should remind him that the debt ceiling represents all the spending already appropriated by the government, not future spending…idiot.

Posted October 12, 2013 by Matthew in Uncategorized

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Ted Yoho Is An Idiot   4 comments

Apparently he’s also an abject failure at economics as well, as evidenced by this gem of a statement concerning why the United States shouldn’t raise the pending debt ceiling…quoting WaPo via Booman Tribune:

Now, Yoho is ready for a bigger fight. He doesn’t want to raise the debt ceiling — ever again. The experts, and Republican leaders, say that would trigger a financial catastrophe.

But Yoho didn’t listen to them about the shutdown. And look how that turned out.

“I think we need to have that moment where we realize [we’re] going broke,” Yoho said. If the debt ceiling isn’t raised, that will sure as heck be a moment. “I think, personally, it would bring stability to the world markets,” since they would be assured that the United States had moved decisively to curb its debt.(Washington Post)

Mr. Yoho, there is a reason the world invests in American debt: it’s one of the safest investments that anyone can make in the world and, as Booman points out, as long as the rest of the world believes that, the U.S. will almost certainly never go broke…and you want to screw that up, Mr. Yoho?

Like I said in the title, Ted Yoho is an idiot…

Posted October 5, 2013 by Matthew in Uncategorized

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