It's nice that a gun maker made the market headlines yesterday by bucking the big Dow loss. But to call Southport a maker of "durable goods" is questionable. LCR. LCP. SR9.
Jun 22, 2012
Your Friday morning issues briefing
1. Fool that am, I keep thinking about Attorney General Holder in terms of his criminal violations of the nation's firearms laws. It took Joel to remind me that contempt of congress is a state of mind every thinking citizen embraces. Why should Holder be singled out for the honor?..
2. Try a I might, I simply can not tangle my shorts over the plight of a new-hatched intellectual facing an increase in student loan rates. My teevee tells me the average student debt is $26,000. The added 3.4 per cent would thus cost Ms. and Mr. Average Expert in Liberal Arts some $885 per year or $2.42 per day. This could easily be covered by (a) walking one flight up, to Mom's kitchen, and having your coffee there rather than Starbucks or (b) working an extra 22 minutes at the job for which your degree qualifies you. (Translated to piece work that probably amounts to a dozen double burgers with cheese.)
2. Try a I might, I simply can not tangle my shorts over the plight of a new-hatched intellectual facing an increase in student loan rates. My teevee tells me the average student debt is $26,000. The added 3.4 per cent would thus cost Ms. and Mr. Average Expert in Liberal Arts some $885 per year or $2.42 per day. This could easily be covered by (a) walking one flight up, to Mom's kitchen, and having your coffee there rather than Starbucks or (b) working an extra 22 minutes at the job for which your degree qualifies you. (Translated to piece work that probably amounts to a dozen double burgers with cheese.)
Jun 21, 2012
Twisty Ben
Chairman Benjamin Bernanke and all his chubby little Fed elves say they love the twist so much they're going to keep on doing it all year long.
Judging from the hundreds of explanations on the internet, if you don't quite understand Operation Twist you have lot of company. Let me give a shot at explaining, if you please.
The Fed says it will boost the economy by buying back its shorter-term bonds. It will pay for them with "money" it will get for selling longer term bonds. That way it will owe less money soon and more later. It all works out to make its balance sheet look just the same even though it can immediately float more greenbacks (still backed by nothing).
It will help to think of the Fed as just another bank. It lends money and borrows* money. It can be flush or damned near broke, or even secretly bankrupt, a banking-sector Enron.
It might also help to personalize the process. Think of the Fed as yourself, a naughty little brat who ...
--wrote a bunch of post-dated checks which were worthless when you signed them and will be worthless on the imminent due date
--decided to solve your problem by redeeming the soon-to-be bouncing paper with fresh rubber checks, dated further out.
It works just fine if the guys holding your trash are dumb enough to go along with the gag.
Except that if the government catches you, you will go to jail, not because you hung ugly paper but because you are not an official government ugly paper hanger.
Clear now?
---
*The Fed borrowing function is enhanced by its mastery of the printing press, and if that makes you question our historic reverence for Herr Gutenberg, I understand.
Judging from the hundreds of explanations on the internet, if you don't quite understand Operation Twist you have lot of company. Let me give a shot at explaining, if you please.
The Fed says it will boost the economy by buying back its shorter-term bonds. It will pay for them with "money" it will get for selling longer term bonds. That way it will owe less money soon and more later. It all works out to make its balance sheet look just the same even though it can immediately float more greenbacks (still backed by nothing).
It will help to think of the Fed as just another bank. It lends money and borrows* money. It can be flush or damned near broke, or even secretly bankrupt, a banking-sector Enron.
It might also help to personalize the process. Think of the Fed as yourself, a naughty little brat who ...
--wrote a bunch of post-dated checks which were worthless when you signed them and will be worthless on the imminent due date
--decided to solve your problem by redeeming the soon-to-be bouncing paper with fresh rubber checks, dated further out.
It works just fine if the guys holding your trash are dumb enough to go along with the gag.
Except that if the government catches you, you will go to jail, not because you hung ugly paper but because you are not an official government ugly paper hanger.
Clear now?
---
*The Fed borrowing function is enhanced by its mastery of the printing press, and if that makes you question our historic reverence for Herr Gutenberg, I understand.
Jun 20, 2012
The Druid within
The hex continues. An overcast sky again thwarts the plan to lay out a summer solstice sunrise vector on the grounds of Camp J. It would cross the winter line scribed and marked with stones several years ago.
Yeah, I know I could just look it up in the astronomical almanac and plot it with a compass, but that violates the spirit of the thing. The ancient Celtic priests would be displeased.
Oh well, maybe next year.
Which reminds me of a confusing point in the Druidic liturgy. Everything I read directs me to get woaded up and dance naked around an oak tree or stele (something phallic, anyway) on the first day of winter.
But I can't find a similar ritual ordained for the summer solstice when a devout pagan would stand a lesser chance of his personal stele freezing, turning black, and falling off.
Maybe that's why there aren't many Druids anymore.
Oh well, maybe next year.
Which reminds me of a confusing point in the Druidic liturgy. Everything I read directs me to get woaded up and dance naked around an oak tree or stele (something phallic, anyway) on the first day of winter.
But I can't find a similar ritual ordained for the summer solstice when a devout pagan would stand a lesser chance of his personal stele freezing, turning black, and falling off.
Maybe that's why there aren't many Druids anymore.
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