Sunday, July 05, 2015

Above My Pay Grade

I don't claim to know what's "right" for Greece, I just do know that there's been a slow motion coup by the banksters with Greece as one of their many trial sites. Perhaps giving in would be better for their citizens. Perhaps not giving in is better for everybody.

Why Didn't They Listen To Fred Hiatt?

Naughty ungrateful children, those Greekisheze.

Not Going To Click Through

But based on this, there's literally no conservative who can't get a fawning profile in the NYT or WaPo.



What's It All About Then

That austerity isn't looking good to everybody.
German business daily Handelsblatt is reporting comments from Jens Weidmann, Germany's central bank chief, who has privately told the government a Grexit will decimate the country's budget.

I'm not sure this even makes sense to me, but...

Heh Indeedy That Is A New One!

The Confederacy was due to all of those outside agitators!

Morning Thread, The Day After Edition

Saturday, July 04, 2015

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What's It All About Then

Greece's Euro "membership" isn't about using the currency, it's about having access to various loan facilities and support from the ECB, which it already doesn't have.
Bloomberg reports that Bulgaria, which is not a Euro member but backs its currency with Euro reserves, has just been allowed to borrow from the ECB at the same rate as Euro members, thus enabling it to firewall its banks from Greek contagion. This is a privilege normally only accorded to Euro members – and it has been WITHDRAWN from Greece. If this is true, then Bulgaria (non-Euro member) can obtain Euros from the ECB while Greece (Euro member) cannot. It is hard to see what benefit Greece’s Euro membership confers, apart from redistribution of seigniorage receipts.

And finally someone gets the logical endpoint of central bank "independence."
For the central bank of a currency union to deliberately restrict the money supply in regions within the currency union is bizarre. No other currency union central bank on earth does this. It would, for example, be unthinkable for the Bank of England to deny liquidity to Scotland’s banks. But the ECB has denied liquidity to Greece’s banks, not because they are insolvent (which is a reasonable reason to deny liquidity to banks) but because the sovereign won’t toe the fiscal line. It has taken on a political role that it should not have.

Of course, the ECB’s shareholders are the member state governments. But those governments have bound themselves by laws and treaties that prevent them interfering with or in any way controlling the ECB. So the Eurozone is in reality a financial dictatorship run by bankers. I struggle to see why anyone would voluntarily join it, let alone want to stay in it. But that’s democracy for you.

Whatever it is, it ain't democracy. It's banksterocracy. The concept of central bank independence was, once upon a time, thought to be necessary to prevent irresponsible governments from doing, or being perceived as doing, irresponsible things with the money supply. Now the point of central bank independence is to hand immense power to a bunch of unelected unaccountable people engaged in revolving door careers with the banking system. Let's continue laughing at the silly Greeks and their silly corruption.

Maybe In Another Six Months?

Ask a cab driver?
There's still no timeline for the tunnel.

Seattle Tunnel Partners, the joint venture contractor to dig a highway tunnel to replace the Alaskan Way Viaduct, said in May it would produce a new estimated completion date by the end of June.

That self-made deadline has passed.

Good Start

Release them all.
WASHINGTON — Sometime in the next few weeks, aides expect President Obama to issue orders freeing dozens of federal prisoners locked up on nonviolent drug offenses. With the stroke of his pen, he will probably commute more sentences at one time than any president has in nearly half a century.

I suppose the drug crime issue is one I have "evolved" on. I'm not saying I ever thought that people should have their lives destroyed by the criminal justice due to nonviolent drug offenses, just that I failed to comprehend the magnitude of the problem - imprisonment, not drugs - and the clearly racist application of the laws as much as I should have. Drug addiction is a public health problem. It's one thing to lock up people caught with 20 pounds of cocaine, quite another to have such low thresholds for "intent to sell" that you can classify basically every user as a dealer.

Send everybody home, change the laws, abolish the DEA, end all civil forfeiture. The end.

Morning Thread

Almost time to watch 1776.

Friday, July 03, 2015

Friday Evening

Rock on.

As Long As They Don't Snarl

Policy positions of Republicans have no bearing on whether the Villagers love them, it's all about whether they play the "serious" part well. Have the policies of Ted Cruz, just don't act like him. You're a moderate!

What's It All About Then

Not what they want you to think it is about.
BRUSSELS (Reuters) - Euro zone countries tried in vain to stop the IMF publishing a gloomy analysis of Greece's debt burden which the leftist government says vindicates its call to voters to reject bailout terms, sources familiar with the situation said on Friday.

Afternoon Thread

Discuss.

Lunch Thread

Apparently it's a holiday (observed).

"Fans Of Band Creed"

All 3 of them?
Still, though, fans of the Christian rock band Creed have started a Change.org petition to have the name of the Creed film changed to something a little less confusing for them. And, as the petition states, “the Creedmunity will not be silenced.”

They are easily confused.

Jerkface Jindal

I don't know what they hope to achieve by playing these games.
New Orleans is finally allowed to join the rest of Louisiana and issue marriage licenses to same-sex couples.

Following a court ruling ordering it to do so, Gov. Bobby Jindal's administration agreed Thursday (July 2) afternoon to allow the state Department of Vital Records in downtown New Orleans to issue the marriage licenses. Every other marriage license office in the state began doing so earlier this week.