The big news today is that Arlen Specter has changed parties to Demcorat from Republican.  For once, I agree that this is bigger news than the various economic revelations.

The reason this is such big news is because it gives the Dems full and obvious control of the legislative branch of Government.  They had this control already, in practice, but it will now be impossible to spin anything onto the GOP.  Not that I care much about party politcs, but it's a significant shift.

The most important point, however, is that the GOP is now, across the board, a true minority party.  For those of us with a libertarian / conservative philosophy, this is a very good thing.  This represents a real chance for the GOP to stop with the Rovian triangulation and work towards re-establishing a governing philosophy that is much friendlier to a free, fair, and open society.

Do I think the GOP will take advantage of this opportunity?  Sadly, no.  I have no faith in almost anyone involved in our current, thoroughly corrupt system.  I still believe that a popular revolt, that eventually sweeps aside both parties, will be necessary.  I sincerely hope to be proven wrong.

So, let's hope that the 'conservative consolidation' continues ... goodbye Collins and Snowe .... don't let the door hit ya Graham ... buh bye McCain ... etc.  I despise the current incarnation of the GOP, but I'm also realistic enough to realize that the in-place infrastructure would take longer to replace than to co-opt.  Smaller, stronger, smarter ... and positioned for a rebound with actual values instead of just a bunch of talking points.

Posted by: Hermit Dave at 07:58 PM | No Comments | Add Comment
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New Evidence Suggests Some Dinosaurs Survived for Half a Million Years After Asteroid Impact

The snarky title to this post aside, which I was unable to resist, dinosaurs are cool.  So if you like dinosaurs, just read the short article.

However, I can't resist taking a pot-shot at the nearly illiterate moron who wrote up the piece.  While it might be mildly amusing (read: mind-numbingly painful) to go through the whole thing and pick apart all the mistakes, this one jumped out at me:

The whole idea that a space rock destroyed the dinosaurs has become controversial in recent years. Many scientists now suspect other factors were involved, from increased volcanic activity to a changing climate. Either way, some 70 percent of life on Earth perished, and an asteroid impact almost surely played a role.

Er, any chance that the increased volcanic activity or a changing climate could have been caused by an asteroid impact?  And really, space rock?  What is this, freaking asteroids for dummies?

I realize that just regurgitating whatever press release this piece is based on would be kind of embarassing, but at least make a little effort when you re-write the damn thing.

Posted by: Hermit Dave at 05:24 PM | No Comments | Add Comment
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I may be mostly a hermit, but somewhere in my family history must be some 'inbred hillbilly yokel' genes, because I like watching NASCAR. Talladega is usually good for massive wrecks and yesterday's race provided even more than the usual destruction.

There were two 'Big Ones' ... where one car starts getting a bit out of line, there's some bumping, and before you know it ... twisted metal everywhere. There were also a few smaller wrecks, including amazing driving saves by Michael Waltrip and Kurt Bush as they were sliding sideways across the infield.

However, the last lap of the race was simply insane:

Edwards is a great driver,but he let his desire to win the race overcome common sense on his second block. To his credit, he not only had enough class and showmanship to run across the finish line, he took full responsibility for the crash. Unfortunately, there were 7 injuries to spectators from debris when Edwards hit the catch fence. Thankfully, most were minor, and the worst appears to have been a broken jaw.

Posted by: Hermit Dave at 03:08 PM | No Comments | Add Comment
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I know that posting something evenhanded and non-partisan on the state of the economy and markets isn't going to get me any friends. Good thing I don't give a shit.

So here's some excellent commentary on where we stand: Hussman's latest.

If one thing is clear from the last decade, it is that investors have no concern about the ultimate cost of the wreckage as long as they can keep a bubble going over the short run.

So sad, but so true.  When I was working in Japan, after the burst of their bubble, the talk was about the 'hollowing out' of their economy.  With our current federal/financial oligarchy directing capital to moribund institutions, rather than towards future productivity (or, ideally, just getting the hell out of the way), I expect to hear that phrase used for our economy as well.

Posted by: Hermit Dave at 09:20 PM | No Comments | Add Comment
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Oral fixation? Yeah, I can think of ways to help with that ...

Dita posted mostly in response to this at DPUD. I find this picture far more satisfactory. Plus, it does remind me that there are much better things to put in your mouth than smokes.

Posted by: Hermit Dave at 08:39 PM | No Comments | Add Comment
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The most wanted playing cards for the Iraq War were great. Now econo geeks can get a set for the financial crisis. I doubt I'll agree with the exact rankings, but the idea rocks.

Posted by: Hermit Dave at 05:30 PM | No Comments | Add Comment
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Hmmm, let's see ... there's a lot of interesting shit out there ... do I give enough of a crap to post anything?  Nope.

Never mind me, I'll just be in the corner over here jonesing for a smoke.

Posted by: Hermit Dave at 07:05 PM | No Comments | Add Comment
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I'm adding a number of sites to my blogroll.  Eventually my blogroll should reflect the mix of economics, markets, and politics that I think is correct (and that I read).  For now, all the sites going in are economics and finance oriented, with some attention to market details.

As I've said before, I think putting economics before politics is the proper order of things, and I'll add more political sites later.  My personal blog reading history has been mostly political, as I already had a sound base of economics, finance, and markets (EFM).  From what I've seen of the political blogosphere, however, most have zero clue about EFM whatsoever (watching CNBC doesn't count, in fact it's a net negative).

So, as a public service, to the zero people who read my blog, I'll continue to focus my efforts, links, and blogroll towards nonsense EFM, in the hope that all of my (zero) readers will try to educate themselves at least a little bit in these areas.

Posted by: Hermit Dave at 08:28 PM | No Comments | Add Comment
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Edgar Mitchell, an Apollo 14 astronaut, and the 6th man to walk on the moon, has apparantly lost his mind:

"It is now time to put away this embargo of truth about the alien presence," said the astronaut who made the longest moonwalk in history. "I call upon our government to open up ... and become a part of this planetary community that is now trying to take our proper role as a spacefaring civilization."

The rest of the article is equally deranged.

Flying over England on May 20, 1957, "I got this blob - it was not a blip, it was a blob" on his radar screen, big as an aircraft carrier, he said. "Then he took off at Mach 10," something around 7,000 mph. The 77-year-old retired professor of civil engineering choked up as he retold how he was forbidden by a "spook" ever to speak of the incident, even to his father.

The incident came out in late 2008 when Britain declassified a batch of Ministry of Defense files on unidentified flying objects. "It was such a relief for them to let me know that I can talk about this," he said between sobs.

With the completely credulous tone of the article, and the utter lack of research into contrary opinion and information, it's tempting to fisk the whole thing. Being an essentially lazy bastard, I'd much rather just point and roll my eyes. Plus, more than anything else, the poor old guy leaves me feeling sorry for him.

Posted by: Hermit Dave at 07:27 PM | No Comments | Add Comment
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Ha! And you thought I'd gone back to smoking!

What?  You had guessed that I was feeling so pathetically sorry for myself that I couldn't post?  Ok, that's about right.

Anyway, for today, here is my new perspective on time-honored sayings:

• Today is the first day of the rest of your life -- WITHOUT SMOKING
• A bird in the hand is worth two in the bush -- UNLESS THE ONES IN THE BUSH HAVE SMOKES
• All we have to fear is fear itself -- EXCEPT FOR FEAR OF NEVER SMOKING AGAIN
• Welcome to the Hotel California -- WHERE WE TAX SMOKES SO MUCH THAT IT RUNS ABOUT $400 A FUCKING PUFF
• Puff the Magic Dragon, lives by the sea -- AND SMOKES ALL HE WANTS BECAUSE HE"S FUCKING MAGIC AND CAN GET HIS FAT ASS OFFSHORE FAST ENOUGH TO ESCAPE THE GODDAMN PC POLICE

Ok, you get the idea.  I'm doing better, but still rather bitter.

Posted by: Hermit Dave at 09:26 PM | No Comments | Add Comment
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Everyone who's anyone is a fan of MP's facecockings at DPUD. One problem: The ante has been raised. Good luck MP.

Posted by: Hermit Dave at 09:06 PM | No Comments | Add Comment
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Posted by: Hermit Dave at 04:13 PM | No Comments | Add Comment
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One of the things I have noticed in the perusal of the conservative blogosphere, in regard to the Tea Parties, is that most commentators feel the need to say that 'I have never heard of this use of teabagging'. Um, please.

Is this distateful, sophmoric humor, unfit for any serious discussion of the tax protest movement? Of course. But to pretend that you didn't know the sexual act to which the phrase referred? In most cases, give me a break.

How does one spend any time online and not know what this (and many other phrases) mean in the pop-culture lexicon? How does admitting that you know what this means hurt your argument?

I'm comfortable enough with myself to (1) admit I know the sexual definition of 'teabagging', (2) admit that I'd have had to live in a cocoon of my own devising if I didn't know what that meant, but (3) still ridicule those who used the phrase in this context as a childish way to attempt to delegitimaze the movement.

For those who are 'above it all'? Methinks thou dost protest too much. Or, go read a few threads on Fark and at least gather some information, even if it might hurt your tender eyes.

Posted by: Hermit Dave at 10:11 PM | No Comments | Add Comment
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WTF happened to LGF?  I mean, I haven't read the site in ages, as it was mostly a one-note site.  Which is fine, but once you've educated yourself on the topic of radical Islam, there isn't much of a point in following it anymore.  Sure, there was the very nice contribution to Rathergate, but a flash in the pan success doesn't mean you should just turn off your brain and start running on autopilot.

Now?  Goddamn.  Shrapnel everywhere.  Hey, I'm no stranger to disagreements, but you clarify the issue and move on ... one way or another.  This is just silly levels of drama.

And, yeah yeah, no links.  Everyone knows where to find the relevant sites if drama is your thing.

Posted by: Hermit Dave at 09:12 PM | No Comments | Add Comment
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One of the biggest issues I have with the political blogosphere is the placement of politics before economics. This is clearly putting the cart before the horse. It's nearly impossible for government, regardless of which party is in control, to make sound economic decisions. At best, the government can reverse prior bad economic decisions (this is the essence of most tax cuts).

In the long run, the importance of politcs pales before the importance of sound economic policy. Therefore, one's education should be in economics first, and politics second. Sadly, most people would prefer to play 'team sports' rather than switching teams (or deciding to look for a new team) based on rational economic decisions.

The Tea Parties are wonderful in this regard, but only so long as they remain essentially non-partisan. This doesn't mean that one party cannot respond to them better .. that would be fine. However, the movement should be ideologically (and economically) pure. The fact that pretty much all of the political establishment (from CNN reporters to GOP politicians) got their fair share of derision was very encouraging.

One of my current goals is to re-educate myself in the field of economics. This can not be done through conventional channels, unfortunately. From the idiotic boosterism of a clown like Cramer on CNBC to the various political arguments, one is constantly innundated with utter nonsense. One must scour the internet for independent voices.

The single best piece I came across today? This weekly analysis from an obscure fund manager. I'm not going to bother highlighting what I like about it. One should read, think, and decide for themselves.

Posted by: Hermit Dave at 08:30 PM | No Comments | Add Comment
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Can't even try to bring the funny today.  I'm now fully into the drudgery that is ridding myself of an incredibly unhealthy addiction.  So, some actual facts:

I'm using NRT (Nicotine Replacement Therapy) to try to get past it.  I've tried this in the past with the gum, but now I'm trying the lozenges.  The lozenges (at least for me) have several major advantages over the gum.  I can chew the nicotine out of the gum super-fast, thus actually boosting my nicotine addiction while kidding myself that I was working to cure it.  Sure, I can chew up the lozenges, but this actually ruins their delivery mechanism rather than enhancing it.

The lozenges leave a nasty chalky aftertaste in my mouth which makes me want to use less of them, whereas I actually liked the gum.  This aftertaste can last for a long time.  Hell, I wake up with dry-mouth from these things.  So, on balance, I get a lot less nicotine in my system with the lozenges, while they actually last longer than the gum.  Although this front-loads the difficulty a bit, it's definitely good for actually quitting, rather than just substituting delivery mechanisms for my addiction.

The bottom line:  quitting any major addiction requires time and dedication.  Whether it be cold-turkey or NRT for smoking, a 30-day stay in Betty Ford for drinking, or whatever, there's a huge 'hump' you have to get over to even have a chance at making it last.  I'm still working my way towards the top of the hump, but I'm far more committed to quitting than I have ever been before.  Maybe this time I'm serious enough about it to make it last.

Posted by: Hermit Dave at 06:14 PM | No Comments | Add Comment
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Some dipshit workers at Dominos got busted for doing nasty things to food. Anyone who thinks this kind of thing hasn't been going on for ages is a complete idiot. It's just that in this digital day and age, you can compound your teenage stupidity by putting it on film or in photos.

Now, I never worked for a fast food chain ... so those who were ordering fast food 25 years ago can consider themselves lucky. However, I did work for a hardware store. Once a month we went around changing all the burnt out 8-foot fluorescent bulbs that lit the store. Safe disposal? You wish. Javelin contests with dipshit stock clerks heaving these things at each other? Yep.

If, 25 years ago, we had the capability of filming our activities, putting them on the internet and laughing ourselves silly in a haze of pot smoke, do you think we would have? OF COURSE!!

People need to get over themselves. A felony and civil suits? Please. This is pretty standard teenage dipshittery. Roll your eyes, give them a slap on the wrist and move on.

Posted by: Hermit Dave at 07:01 PM | No Comments | Add Comment
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... or how I learned to stop worrying and love recessions.

After noting The Market Ticker yesterday as a site that looked interesting, I've since read through a fair bit of the archives, and found that there is, indeed, tons of valuable material. If you're at all interested in economics, it's a site worth going through. I don't agree with everything there, and the writer can be a bit hyperbolic, but my thinking in a number of areas has been challenged, which is always a good thing.

One of my personal bugaboos has always been the 'end of the business cycle' crap. Putting off recessions, which we've been attempting to do for a long time now, is always a bad idea, and the more you try to do it, the worse the end result will be. This piece at The Market Ticker explains why recessions aren't only inevitable, they're an inherent part of the Reserve Banking system. People should be forced to read this piece (at gunpoint if needed) to get it through their thick skulls why playing politics with economics is not only a bad idea, it's futile (in the long run).

Posted by: Hermit Dave at 04:45 PM | No Comments | Add Comment
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In my current addled state, I don't have the capability to write clearly and concisely enough to address just how truly fucked up the global financial situation is. It's easy for me to state what I find to be obvious, like AIG being an utter sham which is now being operated as a conduit through which to pass money to vested interests. Getting all my references for this statement together and putting out a coherent piece is the problem.

So, for now, I'll just point at an interesting and thoroughly depressing piece, titled America is Being Looted.  The main quote:

The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time.

The author of the piece goes on to demonstrate just how true this statement is.  It's not a fun read, but hard truths are needed more than ever these days.

Posted by: Hermit Dave at 03:50 PM | No Comments | Add Comment
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I defy ... DEFY! ... anyone to read this and still retain their sanity.

This news story could have been incrediby simple:

Headline: The U.N. is worthless.

Text: The U.N. has devolved into purely bureaucratic wrangling with zero accomplishments in ages. It might be amusing to catalogue the infighting among various bureaucracies, but then again, it might be amusing to cut yourself with a razor blade untill you bleed out. Why does the U.S. support this bunch of kleptocrats? Fuck only knows.

Posted by: Hermit Dave at 10:23 PM | No Comments | Add Comment
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