Rebane's Ruminations

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Month: May 2009

  • Of Horsepower and Deficits

    George Rebane P.J. O’Rourke wrote a wonderful reprise of America’s love affair with the automobile in yesterday’s (30may09) WSJ – ‘The End of Our Affair’.  The WSJ and our local Union are our morning papers that get us through breakfast in the comfortable, old-fashioned format.  Jo Ann and I divvy up the various sections of…

  • Again We Lead

    George Rebane Harbingers of the coming wave of city bankruptcies just keep popping up.  No one will have an excuse when we all march into the sunset merrily singing ‘On the Way to Vallejo’.  A recent three-way email exchange with two local leading and knowledgeable citizens – who prefer to remain nameless – started with highlighting…

  • US Declares Bankruptcy (updated)

    George Rebane What’s good for General Motors is good for America.  That was ground truth for decades.  And it may still be, now that GM is preparing to announce that it has, with a nudge from the feds, entered Chapter 11 proceedings.  Let’s think this out. America is broke, it can’t meet its financial obligations…

  • California Dreaming

    George Rebane This morning’s Union contained a letter that I label Exhibit A as to why California is in its current sad state and continues on its current path.  The letter by Patricia Black demonstrates that there is a (large) contingent of Californians who neither recognize nor acknowledge the state’s dire straits.  And any problems the…

  • What Tax Burden?

    George Rebane Dan Walters of the SacBee has a puzzle – ‘Are California taxes too high or too low?’ – that seems to vex him, and apparently a bunch of his readers.  He concludes that since during the recession we are earning less, we are paying less taxes, and therefore our “tax burden” is actually…

  • Ruminations – 26may2009 (updated)

    George Rebane Obama, other than making good on his promise to change the country into a European socialist basket case (which he didn’t spell out for us), his other promises have proven to be a disappointment, and most intensely so to his own ilk.  The casual observer will point out that, at least, he’s more…

  • Fiscal Disaster Calculator

    George Rebane The politicians are betting their jobs and benefits-for-life that you won’t give a big rat’s asset about the information in this post.  To let you do the arithmetic yourself, I’ve put together a little spreadsheet that lets you play with the national numbers.  The whole thing is supposed to scare the you-know-what out…

  • In Memoriam and Eternal Gratitude

    George Rebane   Since you gave all,    the world was spared and we have reached for stars.Since you gave all,    some have not learned, and now apologize for wars.Since you gave all,    there still are those who hold with honor no one mars.Since you gave all,    we will rebuild America, for children ours and yours.Since…

  • Debt Monetization – How Nice

    George Rebane You hear a lot about this today, and almost no one understands it.  According to the sociologists and educators who study what the electorate comprehends, ‘debt monetization’ means about as much to the average voter as the explanation of a freshly painted corral post does to a cow.  And here Wikipedia is of…

  • Matters financial and economical – 23may2009 (updated)

    George Rebane The dollar continues its quiet plunge.  Porter Stansberry reports on today’s buzz in world financial circles that the US will soon lose its AAA debt rating, as Great Britain did two days ago.  Bill Gross, world’s largest bond-fund manager, agrees and told Bloomberg that … the U.S. will eventually lose its triple-A rating.…

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