Friday, May 7, 2010

Jail/Immigration/Wall St./MWRA

If you are a guest of the Commonwealth you will soon be required to pay a $5 per day inmate fee per legislation passed by the House. I’m sure the usual suspects will surface rallying against such a Draconian measure. These are the same folks who are conspicuously absent when a discussion is made over the crimes these “guests” have committed in their illustrious careers of criminal activity. My sympathy meter is firmly stuck on zero when it comes to this issue.

Immigration laws in most other nations are highly restrictive and that is especially true in Mexico which requires - among other things - your own health insurance, a sponsor, minimum income requirements for you and dependants, not take a job in Mexico and translate all documents into Spanish. There is much more including the possibility of being shot crossing the border.

The Wall Street Journal had an article detailing members of congress who profited form the economic turmoil by betting the market would go short (stocks going down). This is a quote from the article: In February, Sen. Johnny Isakson (R., Ga.) argued on the Senate floor that "we don't need those speculating in the marketplace to take unfair advantage of the values of equities that are owned by Americans all over this country for the sake of making a buck on a short sale." Guess what he was doing? Buying an EFT targeting a market going short. Naturally his excuse was his account is “professionally managed.”

This is for the folks in the MWRA water district recently impacted by a failed water main. Take a large pot. Fill it almost to the top with tap water. Place it on the stove. Turn the stove on. Eventually bubbles will form on the water and this is called “boiling.” Allow this to happen for over a minute. Turn off stove. Remove pot. Let water cool. Place in refrigerator to cool even more. This means you don’t have to make a freaking third rate dips**t out of yourself getting bottled water in some type of herd mentality panic.

The Middleboro BOS gets a lot of heat but compared to the Boston City Council they make Bernie Madoff look like Mother Theresa.

What has become abundantly clear in the last week is that economic recovery is an illusion propagated by either fawning sycophants of the current administration or Wall Street dreamers. The jobs picture remains bleak and several counties in Europe - especially Greece - have debt and credit issues that remind me of Mexico back a few decades ago. I’m not exactly going out on a limb here to say this administration continues to be like someone in a maze that has no exit.

Speaking of Greece and its impact on the economic turmoil just how much of an economic powerhouse is Greece? Well, the GNP is ranked 29th in the world at 218 Billion and Greece has a population slightly over 11 million. Does this smack of over reaction?

Along those lines when you have stock sell offs - much of it computer generated - like happened on Thursday with selling and then triggering buys when stocks go lower. A computer generated merry-go-round. There are pre market triggers in place that stop trading when the market recedes 500 or more points. I was online watching the proceedings and the action was so fast the computers could not keep up as the market continued to drop rapidly. Usually a buy order will process in a few seconds. I had one in that took almost a minute to process and since it was a market order the price actually went up 4% in that one minute.

In the another one bites the dust department representative David Obey (D-Wisconsin) has decided to pack it all in as it appears he just may have the voters do it for him. Obey chairs House Appropriations and was a key element in the stimulus disaster.


North Slope Rigger said...

They are pitiful! Good thing Beckett is such an ace.

LMAO said...

I continue to be amazed by the analysis of the recent or latest Wall St. meltdown. Know one definitively knows why? The various talking heads have opinions but those opinions are all measured. The most cognizant one was to simply consider it and adjustment since there is significant historical evidence to show this is possible.

I guess the CPA is going to be occasionally tossed before us and now is the third time if my math is correct. Some just can't take no for an answer.