Monday, May 31, 2010
I agree with Michael Panzer's interesting 22 May 2010 post at When Giants Fall about Turkey, Iran and nuclear weapons, link: http://www.economicroadmap.com/2010/05/not-so-positive.html.
Yes VD. At the very least, California, from San Diego to Santa Barbara, looks like it will revert to Mexico. Pancho Villa won!
China has a policy to move Han Chinese into Sinkiang province, which was primarily Uighur, to ensure Beijing's control. We permit let illegaal aliens stay in the US, which will likely cause the US to dissolve. Look at the contrasting policies.
Absent a new "Operation Wetback", I expect the US to break up no later than 2040, see my 11 January 2009 post: http://skepticaltexascpa.blogspot.com/2009/01/usa-rip.html.
Sunday, May 30, 2010
Saturday, May 29, 2010
Friday, May 28, 2010
Thursday, May 27, 2010
Yes, convenient. Coincidence? We don't think so. Why did the SEC choose this case? See my 5 May 2010 post: http://skepticaltexascpa.blogspot.com/2010/04/vampire-squidking-canute-of_25.html. That the case is weak is a Yves Smithian "feature. not bug". Vampire Squid's losing money on this deal means nothing to me, except possibly that was one of the SEC's considerations in selecting this deal for "enforcement"
Wednesday, May 26, 2010
Tuesday, May 25, 2010
Monday, May 24, 2010
I wish Citigroup and its CPAs, KPMG, good luck. I last commented on Citi's deferred-tax assets on 16 March 2009: http://skepticaltexascpa.blogspot.com/2009/03/peter-wallison-advocate.html.
Sunday, May 23, 2010
"Feeling like it missed out the last time around, Australia wants its piece of the next commodities' bull market.The government is pitching a Resource Super Profits Tax on mining profits. This is part of an overhaul targeting the 'proceeds of the next mineral boom,' for the broader economy. For example, nonmining corporate taxes will fall", Mohammad Hadi and Alex Wilson at the WSJ, 4 May 2010, link: http://online.wsj.com/article/SB10001424052748704342604575221700829646686.html.
It doesn't matter which government. In one repect they are all the same: they change the rules after the fact to your detriment. You who made Roth IRA conversions, take note.
Australia missed out? Did it "invest" in the minerals industry with public funds to develop mines and oil wells within Australia?
Saturday, May 22, 2010
Friday, May 21, 2010
Tuesday, May 18, 2010
"One of the most reflective responses of the left to any social problem is to blame under-funded education. What the left means by this, of course, is not really education, but indoctrination, which is the primary purpose of public education and college education in America today. The vast transfer of wealth from parents and taxpayers to the public schools and uiniversities is one of the most regressive sorts of social tariff in our society. ... State and local spending on public education is more than $15,000 per pupil. Federal spending on public education was almost nonexistent a few decades ago, but now it is growing fast. America, in fact, spends more per capita on public education than almost any nation in the world. Are we getting much for that investment? Not according to test scores. ... The cost per credit hour in the average university is about $300, or about $9,000 per college year. This expense has increased 1,000% over the last decade. Americans are 'investing' an enormous amount of money in the education of our children. Is this a wise policy?," Bruce Walker at the American Thinker, 26 April 2010, link: http://www.americanthinker.com/2010/04/rethinking_education.html.
Small classes. Wow. My old grammar school, PS 191, had 1,400 students in the late 1950s. It's website says it now has 276. I bet every one of them enters Harvard after high school, except those who decline the "H-Bomb" for: Yale, Princeton, Stanford, Chicago, MIT and Amherst. Sure. Shades of the Africentric Toronto school, my 12 October 2009 post: http://skepticaltexascpa.blogspot.com/2009/10/lake-wobegon-does-toronto.html.
Now its war story time. In 1994 I was doing accounting research in Cal State Northridge's (CSUN) library. Three young ladies (YL) came up to me. One said, "Mistah, can you help us learn about whales"? "Yes, young ladies. Which Wales?". The YL look confused. I asked, "The country or the sea mammal"? "The sea mammal". I took the YL to the "WH" card catalog drawer. In 1994 CSUN had a real card catalog! The YL do nothing. I write out w-h-a-l-e-s on a piece of paper and hand it to the YL. The YL do nothing. It now dawns on me the YL do not know the alphabet. I open the card drawer to whales and tell the YL they can find all the books they need now. Will someone tell me why these YL were in college?Walker, the answer is no.
Monday, May 17, 2010
Sunday, May 16, 2010
Saturday, May 15, 2010
Friday, May 14, 2010
"[Blago] finally made good on a promise. He put President Barack Obama right in the middle of [Blago's] own political corruption case. And now it's finally clear why, from the moment of [Blago's] arrest in December 2008, White House spinners loudly portrayed our former Gov. Dead meat as some drooling, raving lunatic. ... But raving lunatics care little for their own survival. And in an amazing defense motion filed Thursday, [Blago] proved once again that he is quite sane. ... Obama's former patron and real estate fairy, the convicted influence peddler Tony Rezko, is a key player in the government's case. [Blago's] aim is to undercut what Rezko has told investigators. ... It is no secret that some in journalism get offended when anyone dares mention that the president was involved in Chicago politics. But the filing is not only a legal document, it's a political message from [Blago] to Obama. So allow me to translate the Chicago Way. 'Dear Barack, my old friend. I want you to use all your powers, all your skills, to make me an offer I can't refuse. I'm Mr. Celebrity-get-me-out-of-here, and you better get me out of here. Thanks, Rod.' ... US District Judge James Zagel surely isn't happy", John Kass at the Chicago Tribune, 23 April 2010, link: http://www.chicagotribune.com/news/columnists/ct-met-kass-friday-20100423,0,983180.column.
Obama can voluntarily appear and potentially look bad. Or he can resist appearing and look worse. Apparently, Obama chose the latter course.
Thursday, May 13, 2010
Wednesday, May 12, 2010
Tuesday, May 11, 2010
Monday, May 10, 2010
Another day, another missed fraud at the SEC.
Sunday, May 9, 2010
Saturday, May 8, 2010
By George, Gretchen's got it!