Just look at the Euro has been wiped out in the face of a country that actually has its fiscal act together. A tradition of neutrality seems to pay long-term dividends, don't you think? Switzerland has kicked the entire world's butt.
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Toilet Humor
The downstairs bathroom nearest my home office is dutifully equipped at all times with a compendium of comics; the offering might be This Modern World, a Zippy collection, an old Dilbert, or – the current volume – Doonesbury.
Imagine my surprise this morning when I flipped to a color strip from early 1986 that was about, of all things, raising the debt ceiling. It referred to Reagan lifting the ceiling to a then-unthinkable $1 trillion (which is enviable, considering it is now about 14.5 times that amount). Take a look at the comic to see how little has changed in 25 years.
Something Bernanke Can’t Control
Well, well, well. Good morning to you, one and all.
I have a very busy day ahead of me, and I was more curious than usual about what the futures would be doing this morning in advance of a day when I'm going to be more occupied than usual. I was shocked and delighted to see the futures taking a sudden tumble, and naturally I was very curious as to why.
The reason, as you all know by now, is that S&P finally decided that, by willikers, the U.S. might not be as creditworthy as its triple-platinum-plated reputation merits. The cool thing is that futures are getting killed merely because S&P changed its outlook. The U.S. – laughably – is being allowed to keep its triple-A credit rating for now (ha! bwa ha! bwa ha ha ha!)
Bernanke's future can be compared to the sinking of the Titanic. What we are seeing this morning is the equivalent of the first few ice crystals scraping the bow of the ship. The man will eventually receive his comeuppance, and anticipating that day is what puts a spring in my step and a twinkle in my eye. His deceits will eventually give way to the truth, the light, and the way. Blessed art thou, Slopers. Amen.
Even a Child Can Understand
Obama’s Forked Tongue
I am indebted to ZeroHedge for bringing to everyone's attention then-Senator Barack Obama's bold statement from 2006 with respect to raising the debt limit of the nation:
"The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."
Contrast that with the latest statement from a man whose sole purpose in life seems to be – – ironically – – making sure the mega-rich get mega-richer by kow-towing to keeping their markets "stable" (e.g. perpetually ascending):
Failure by Congress to raise the U.S. debt limit "could plunge the world economy back into recession," President Barack Obama declared Friday, and he acknowledged that he must compromise on spending with Republicans who control the House to avoid such a crisis. Obama urged swift action, saying he doesn't want the United States to get close to a deadline that would destabilize financial markets. He said he was confident Congress ultimately would raise the limit. "We always have. We will do it again."
