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Blog of the Week of December 19, 2011 BEEN BETTER
Foreshortening of very short-term – overnight – institutional lending has been credit contractive and newsworthy here and there for months. It wasn’t a matter of ‘you show me yours, I’ll show you mine’ to establish creditability or its lacking and leaking. Most players knew the kinds of schlock in the other guys’ shorts.
And it wasn’t only a matter that flights - from banks in perceived higher sovereign risk domiciles - cut back on in-house reserves and still do, seemingly increasing.
And it wasn’t just the downgrades and hissy afterthoughts of more, more, more.
It was all that and then some that rolled up to breach growth opportunity and beach money volume and velocity.
It was (and still is) about insolvency. It is (now, also) about illiquidity. That’s destiny.
“If the right one don't a-get you
Then the left one will”
“Sixteen Tons” by Merle Travis (1947) or George S. Davis (1930s)
Well, this grinding gift keeps on gristing. Though referenced immediately below as an Australian consequence of consequences, these goings-on will be going on in neighborhoods all over - soon. Takes yo picks - rollovers, downgrades, 'no ask' sales, 'ruptcies in the darndest places, forced disinvestments, foreign account disclosures, political tides, social tides, derivatives' dénouements, theocratic tides, jackboots, precious metal paper market collapse, , ten rifles to the block, no growth, no 21st century, no 1st World country, markets bigger than bureaucrats, no comfort and joy, no reprieve, no foolin', and more, more, more.
“How the Banking Crisis Affects the Real Economy” By Dan Denning, Daily Reckoning, Australia, December 19th, 2011
http://www.dailyreckoning.com.au/how-the-banking-crisis-affects-the-real-economy/2011/12/19/
. . . . . . .
This’n’s pure Bill Bonner. In ’Fork’s opinion, he's not always this good, but when he is, he's very good, this good. Subject: American Presidents and Newtie.
“Why the US President Should Be a Man for All Seasons” by Bill Bonner, Daily Reckoning, Australia, December 19, 2011
http://www.dailyreckoning.com.au/why-the-us-president-should-be-a-man-for-all-seasons/2011/12/19/
. . . . . . .
So far to these old eyes, this is the best of opinion pieces on the gift that keeps on galling – certain liberty-losing parts of the National Defense Authorization Act of 2012 more commonly referred to as ‘the indefinite detention act’. The evil doings to human dignity and honor of the last two American presidents slithers on to present-day.
Reed this essay and weep.
“Do you suppose cows have any idea what’s coming as they’re marched down the chute? Or do they stare with bovine indifference at the tail and hind quarters in front of them, until they’re suddenly — and very briefly — startled by the man with the nail gun?
“Perhaps Americans will — likewise too late — ask themselves what happened in the very near future. Perhaps just after the midnight knock comes and they are taken away into the night.
“It is not an exaggeration.
…
[Lindsay] “Graham
further stated:
“ ‘It is not unfair to make American citizens account for the fact that they
decided to help al-Qaida to kill us all and hold them as long as it takes to
find intelligence about what may be coming next. And when they say, ‘I want my
lawyer,’ you tell them, ‘Shut up. You don’t get a lawyer.’ ’
“The key thing being...it is entirely up to the government to decide what
constitutes ‘helping’ al-Qaida. It can be nothing more than a vague assertion.
Indeed, no evidence of any kind whatsoever is necessary to ‘hold them as
long as it takes’ in order to ‘find intelligence’ (not defined, either) by
any means it wishes to employ.”
“We’ve Crossed the Rubicon” By Eric Peters, The Daily Reckoning, 12/19/11
. . . . . . .
And from the mouth of Joseph Robinette ‘Next-In-Line’ Biden, Jr.
“Government ‘The Taliban, Per Se, Is Not Our Enemy’: VP Biden’s Jaw-Dropping Gaffe” by Buck Sexton, theblaze.com, December 19, 2011
http://www.theblaze.com/stories/the-taliban-per-se-is-not-our-enemy-vp-bidens-jaw-dropping-gaffe/
. . . . . . .
~ File: Lost and Not Found. Sovereign identity. You heard the one about the homogenized Republican? Read on out loud. ~
“Paul poses an existential threat to the state’s cherished kick-off status, say these Republicans, because he has little chance to win the GOP nomination and would offer the best evidence yet that the caucuses reward candidates who are unrepresentative of the broader party.”
~ What freakin’ ‘broader party’ did you
not have in mind? ~
~ It appears to ’Fork that both the Politico and The Wall Street Journal are exercising their short left legs. ~
“Will Ron Paul kill the caucuses?” By JONATHAN MARTIN and ALEXANDER BURNS, politico, 12/20/11 http://www.politico.com/news/stories/1211/70674.html
. . . . . . .
“I know that you believe you understand what you think I said, but I'm not sure you realize that what you heard is not what I meant.” ― Robert McCloskey
~ Say wha’? Yo cain’t be talkin’ to me, too. ~
“US President Barack Obama said Monday that Venezuela's government threatened ‘basic democratic values’ [Ed.: like civil rights, like habeas corpus, like Posse Comitatus, like our freakin’ Constitution . . . like, you know . . . like those values?] and expressed concerns about its ties to countries like Iran and Cuba [Ed.: but not Kenya].
. . .
" ‘Moreover, it's unfortunate that the Venezuelan government is often more interested in revisiting the ideological battles of the past [Ed.: like, Dreams from My Father (1995), like] than looking forward to the future that we could build for our citizens [Ed.: like Everests of debt, like lines on lines of unemployment, like indefinite detention camps, like gubmint dependence up the wazoo, like munching on the middle class.]’ "
“Obama 'concerned' about rights in Venezuela” by Breitbart, breitbart.com, Dec 19, 2011
http://www.breitbart.com/article.php?id=CNG.6050c688417a6c5f5f75cb021f5897e8.e1&show_article=1
. . . . . . .
~ A Big O for the other Big O ~
“Deputy Energy Secretary Daniel B. Poneman is working on a major Obama administration initiative that would renew scientist exchanges between U.S. nuclear weapons laboratories and Chinese nuclear facilities.
“The idea is aimed at promoting openness and transparency by China’s military about its secret, large-scale buildup of nuclear weapons, according to U.S. officials.
“Critics say the plan is similar to an exchange program in the 1990s that sent U.S. nuclear scientists to China and produced one of the worst cases of nuclear espionage. Secrets about every deployed warhead in the U.S. arsenal were compromised, including the W-88 small nuclear warhead deployed on submarine-launched missiles.
“ ‘We’ve seen this movie before, and it has a bad ending,’ one official said.”
“NUKE SCIENTIST EXCHANGE PLANNED” By Bill Gertz, The Washington Times, December 21, 2011
http://m.washingtontimes.com/news/2011/dec/21/inside-the-ring-105581724/
. . . . . . .
~ Democracy, Egyptian style ~
“An adviser to Egypt’s military rulers said in a newspaper interview published on Thursday that a brutal attack on a female protester by Egyptian soldiers on Saturday was justified because the woman had insulted the army.
. . .
“Asked about video and photographs of soldiers hitting and kicking the woman, Gen. Abdel Moneim Kato, a retired officer who advises the ruling military council in Cairo, told the Arabic-language newspaper Asharq Al-Awsat that the female activist ‘had been insulting the army through a megaphone’ before she was stripped and beaten.”
“Egyptian Military Adviser Calls Attack on Woman Justified” By ROBERT MACKEY, The Lede, December 22, 2011
. . . . . . .
~ Blood and treasure ~
“
Problems possible with nearly 65,000 Arlington graves, report says” By Christian Davenport, The Washington Times, December 22, 2011. . . . . . .
~ Coming to a neighborhood near you? ~
“The man’s wife asked that he be taken to the hospital, but Lee County cops allegedly decided instead to ‘strip Christie naked, tie him to a chair, cover his face, and then pepper spray him repeatedly, until he died.’
. . .
“At the time, his death was ruled a homicide because he was restrained and repeatedly pepper-sprayed by law enforcement officers. But to this day, no one has been charged with a crime, and the Lee County [Ed.: Tampa Bay] State Attorney cleared the sheriff’s office of criminal fault in the case. [Ed.: Gotta get to know your tools, eh?]
. . .
'Monshay Gibbs was a deputy trainee at the jail at the time. Under oath in a video, she said that Christie had 'a spit mask on and was naked,' during his detainment. Gibbs testified that Christie pleaded with guards to take off the spit mask because he couldn’t breathe.
He was eventually taken to the hospital but died of heart failure.
“ ‘This photo is a picture of a man who is strapped to a chair naked inside a jail for hours with a hood over his face,’ Cleveland-based lawyer Nick DiCello, who represents the Christie family, told the station. ‘That evokes thoughts of being tortured.’ ” [Ed.: Ya t'ink, Nick? D’uh, yep.]
“Crime New Pic Shows Aftermath of Man Tied to Chair by Cops and Pepper-Sprayed ‘Until He Died’ ” by Buck Sexton, theblaze.com, December 23, 2011
. . . . . . .
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