Loopholing in the rain

The stars line up nicely today. Welcome rain gives me an excuse to ignore outside work, and the folks over in Worthington have organized a c. 70-table loophole assembly. Two fellow conspirators are joining me, and I have cleaned the detritus from the van to allow plenty of room in case we find ourselves in a mood to loophole on large scale.

This is the one that tends to draw a high proportion of hobbyists with boxes of interesting stuff. I think it's the place where I scored a big handful of GI 1911 parts a year ago.

The essential lunacy of what we have done to our economic system is illustrated well enough by the simple lede in a Reuter's market story:

"U.S. stock index futures rose slightly on Friday as Greece asked the European Union and International Monetary Fund to trigger an aid package in what could be the largest state bailout ever attempted."

Translation: Greece borrowed until its creditors had no more chance of repayment that you do of ever seeing that $500 you loaned you brother-in-law back in 1984. So the world will loan Greece some more money in hopes that a miracle will occur before anyone notices the (a) resultant inflation of currencies and (b) irony of adding to debt to retire debt.

You say it makes you uncomfortable to have the value of your hundred shares of SWHC dependant on things like what Greek pols decide to spend to support the crucial grape leaf industry? Me too, except I own, Thank God, no SWHC. I have others that the Greeks and Tim G. are fubaring, however.

Encore

Some reader comments just demand reprinting above the fold. TJP writes:

Congress isn't so much exercising a power to tax to the ends of its constitutional duties as it is extorting an allowance to use at its sole discretion.

Tracking the enemy

It can be challenging to keep track of some old presidential buddies after the sting that exposed Acorn's love for helping hookers and pimps launder money. The nutty bunch is quick-stepping all over the place, rebranding itself under a variety of names.

But Matthew Vadum is trying, and he has a list of some of Acorn's new AKAs.