George Rebane
California’s carbon calamity is cranking up to full speed, destroying jobs and driving companies to other lands and states. CARB is now the loose cannon in the state’s economy, putting into full force the dictates of AB32 (q.v.). Even the unions are screaming about job losses and arguing that California’s carbon tax n’ spend will not affect global warming in slightest. Meanwhile the green Europeans are rethinking the carbon calamity that they were planning for themselves. More in ‘California’s New Green Tax’. Oh yes, and we mustn't forget about the new industry of carbon tax farming coming to California. Don't know about tax farming? then read this little ditty.
Who are the top 1% earners around here? Russ Steele sent me a Dept Commerce census data covered in the Sac Bee (here). Sounds about right. The Occupiers ought get right in there and ferret out those people who are taking food out of the mouths of us 99% folks. Is there no justice left in the world??!!
Our beloved Union couldn’t shoot straight on complex stuff like global warming. Their article on physicist Richard Muller’s discovery that global temps have gone up in the last 50 years is supposed to be a big black eye for the “climate change deniers”. I’m not aware of too many such deniers. To be sure, there are skeptics of anthropogenic global warming, but it appears that reporting on such bright lines that separate the ‘deniers’ from the ‘skeptics’ is a still a bit difficult for a small understaffed newspaper. No problem, the local Left was happy dancing in the streets.
The prominent proto-communist truthout.com is lamenting that police are acting with unwarranted brutality in the various cities where occupying is taking place. In a “true democracy” police would act in a manner that support the law breakers. “So imagine how it could be different, if we had a government designed to serve the people rather than keep them in their place. In a country with a true democratic culture the local governments would be serving these people and honoring their right to dissent and protest. They would instinctively be showing up at protests like this and offering to help with any sanitation problems, etc, setting up public toilets, and other services. They would even be offering tents. If there are security problems in the occupy camps a city would be posting police in the encampment to help the people there, with a clear mission to serve them.” (emphasis in the original, read article here) Maybe the cops could even soil their own cars so as not to overly inconvenience the occupiers sitting in their police supplied porta-potties.
Dana Perino of Fox News is historically challenged. A couple of days ago in a gush she identified Steve Jobs as being “the best innovator in world history.” The poor lady had not heard of Thomas Edison, Alexander Graham Bell, …, and thousands of other engineers and scientists whose fundamental discoveries changed the world. Jobs, while no doubt a great product designer and marketer, was not in the same league with these historical giants. Maybe there’s now a new politically correct definition of ‘innovator’ that puts Jobs into the top spot.
What happened in Greece between last Friday and this Monday to make the Dow climb 2.86% and then dive 2.26%? Actually nothing, and that’s the quandary. The market’s volatility attributed to the ups and downs of the next Greek financial palliative seems to be insane. It doesn’t matter what the eurozone economical biggies (Germany, France) or the European Central Bank do or don’t do. Greece will default on its sovereign debt, bet the ranch on it. That paragon of union dominated socialism is so deep in the hole that Europe doesn't have a rope long enough to get them out.
The markets can’t be so dumb in the aggregate that they take seriously the impact of Nick calling Angela a ‘fatso’ and Angela calling Nick ‘shorty’ on Greece’s certain default. It doesn’t matter how big of a check Greece gets to service its debt, even with the contemplated haircuts to the bond holders, Greece cannot grow out of its financial excesses, it has to default sooner than later. Now if I know this, then all the money mavens in the world must know it. Therefore the markets are being moved by something entirely different, and the media pundits writing headlines are either stupid (not ignorant), or they’re trying not to tell us something important – like the US is really headed for Depression2.
[update] Today the Dow fell another 2.48%, ostensibly because Greek's proposed austerity measures, as the terms of the last EU bailout, will be turned down by the Greeks as they vote in a just announced referendum on said terms. Now, dear reader, does it really matter in the scheme of things whether the pampered Greeks accept or reject the terms? What changed?
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