The World Is Being Run By Crazy People

So the idea that economies are national and can be managed by an inspired bank of Canada is nonsense. These global expansions have been universal. They afflict everything, and when the party is on everybody thinks it’s great and they take on a whole lot of debt. The problem in the contraction is that the economy isn’t big enough to service the debt, so then you have to go into the great “bond revulsion” whereby, as I said, they’ll get marked down and priced to exceptionally low numbers. Many issues will be in default, a feature of a post bubble contraction.The fed or the bank of Canada can provide a stimulus, but all it is is throwing credit at a credit contraction and hoping that it will go away. I mean these guys are dealing with no empirical evidence whatsoever. They are dealing with theories that have been pulled out of somebody’s imagination.

An interview with Bob Hoye. (I know – I too thought the imagination was located somewhat higher on the body).
RelatedThe Irish Independent is reporting that the Swiss Central Bank no longer will accept Irish government bonds as collateral. The story also notes that one of the world’s largest bond firms, PIMCO, is no longer purchasing debt issued by the Irish government.

Restrepo

Rob writes – “Spent a part of last night with some fellow soldiers at the armoury in Saskatoon watching this interview – compelling stuff from an articulate warrior poet who would rather forget the whole thing that won him the Medal of Honour.”

YNoKyoto

Ventura County Star;

Gov. Susana Martinez on Tuesday took aim at the controversial Environmental Improvement Board, announcing that she was removing all members over concerns about the board’s approval in recent months of what she considers “antibusiness” policies.
The board – made up of members appointed by former Gov. Bill Richardson – was at the center of a heated debate last year over whether New Mexico should regulate greenhouse gas emissions. The board ultimately decided to approve two proposals – one from an environmental group that aimed to limit the emissions of the state’s largest polluters and another from the state Environment Department that called for a regional cap-and-trade program.
Supporters argue the board went through an exhaustive public process before approving the regulations, but Martinez’s office contends the board moved forward with the regulations after state lawmakers rejected similar efforts during the legislative process.
Martinez said in a statement that New Mexico has been hurt by policies that discourage economic development and result in businesses fleeing the state.
“Unfortunately, the majority of EIB members have made it clear that they are more interested in advancing political ideology than implementing commonsense policies that balance economic growth with responsible stewardship in New Mexico,” Martinez said.

h/t Robert W.

Reader Tips

The Fleetwoods were a vocal trio from Olympia, Washington whose “angelic, mellow style” brought them a string of hits, starting with the 1959 single “Come Softly To Me”. In tonight’s selection, from the 1963 album that ended the group’s hit-making days, a young woman jilted by her former boyfriend asks his new girlfriend to do her very, very best to Hurt Him.
The comments are open for your Reader Tips.

This Is Not Your Grandma’s Humane Society

I got a chuckle

“… when I saw a letter from the Wayne Pacelle, president and CEO of the Humane Society of the United States (HSUS), criticizing Dave Henderson’s column regarding Pacelle’s recent comments that Michael Vick would be a good dog owner today. Is it possible a $50,000 donation from the Philadelphia Eagles may have changed Pacelle’s mind?”

Related – “Of Dogs and Men: How the Tucker Carlson / Michael Vick Flap Reveals the Left’s Moral Degeneracy”
 

A course at the University of British Columbia’s…

…Department of Educational Studies:

Postmodern, postcolonial progressives: “Huh”, “Horseshi..” and…
…hooey. Further to these posts,

Evil language
Horsesh..: “human rights imperialism”

Jonathon Narvey presents a stinking gem (should that be conceivable) at The Propagandist:

Anti-Imperialist Rot In The Foundation Of The Ivory Tower

Update: About the prof. (via Terry Glavin):


Jo-Anne Dillabough is not just any old prof. She is the David Lam Chair in Multicultural Education, she’s been a Killam Fellow, a Spencer Fellow, a UBC Early Career Scholar with the Peter Wall institute for Advanced Studies, and a Noted Scholar with Flasco, Facultad Latinoamericana de Ciencias Sociales, Social Sciences Institute.
She’s the boss.

She is also associated with the University of Cambridge (extensive CV at link).

It’s A Start

Compare and contrast…

John Boehner begins his term in office by cutting the budget to run the House by $35 million dollars. He decided to skip the party put on by one of the freshmen representatives and begins the day by vacuuming his apartment.
By contrast, outgoing speaker Nancy Pelosi, the one who commuted from Washington to San Francisco on a luxurious government C-32 (757) jet, treating the Air Force like her personal airline, spent her last days at a $10,000 a night Hawaiian resort.

More;

“We gather here today at a time of great challenges. Nearly one in ten of our neighbors are looking for work. Health care costs are still rising for families and small businesses. Our spending has caught up with us, and our debt will soon eclipse the size of our entire economy. Hard work and tough decisions will be required of the 112th Congress. No longer can we fall short. No longer can we kick the can down the road. The people voted to end business as usual, and today we begin carrying out their instructions.”

Let us hope so.

The Failing Ponzi Scheme of Europe

Before I get onto the actual subject at hand, I’d like to take a moment to personally thank Kate for the great honour of blogging on SDA in 2011. Like many of you, I imagine, I was drawn to this site several years ago as a refuge from the liberal-MSM and a temporary sanctuary of sanity. Living here on Canada’s Left Coast, as I do, throughout much of my life I was told that my fiscal conservative principles and dismissiveness of political correctness made me: selfish, ignorant, narrow minded, unenlightened, and a host of other pejoratives. Fast forward to 2011 though . . . like two freight trains heading toward each other, the Great Lies of “Progressives” are starting to meet head on with Undeniable Economic Facts. As the infamous Jeremiah Wright once said, “the chickens are comin’ home to roost!”
Earlier this week, American radio talkshow host, Dennis Prager, spent 2 straight hours focused entirely on this stunning article about the increasing collapse of the social welfare state in Europe. There are several great quotes within, including this one:

“By now, only a few people refuse to understand that youth protests aren’t a protest against the university reform, but against a general situation in which the older generations have eaten the future of the younger ones.” — Giuliano Amato, economist and former Italian prime minister

The never ending cycle of borrowing from the future to pay for unaffordable luxuries today has worked well in Europe for many decades. Quite frankly, any political party that dared put a permanent halt to it would have been thrown out of office in no time for the liberal media and public sector unions would have had no problem convincing a majority of voters that More-More-More didn’t have to Stop-Stop-Stop anytime soon.
This coming decade may finally signal European society finally hitting rock bottom, not all too dissimilar from an addict reaching the same point. But they’re not there yet and it’s going to get awfully messy before it gets better. Until then, watch both the unemployment and the debt throughout Europe continue to soar.

“Think Forward” With The BC NDP

Now is the time at SDA when we juxtapose!
Think Forward BC NDP, September 2009;

“Today, the BC NDP has an opportunity to be more assertive in building a more effective, functional and relevant party for our members and our communities. We must ensure that representation at all levels of the party, including MLAs and candidates, reflects the full diversity of the province we live in.”

Globe And Mail, December 2010;

Six potential contenders to replace NDP leader Carole James
NDP_diversity.jpg

(Oops.) h/t TimR

This Just In

From Iran’s PressTV (which isn’t a member of the Progressive Bloggers, but should be);

The explosion at a church in the Egyptian city of Alexandria, which left 21 people killed and another 80 Muslims and Christians wounded, raises one question: Who was behind the blast?
Although, at first glance, the finger is pointed at extremist Wahabi or Salafi groups, it goes without saying that no Muslim, whatever their political leanings may be, will ever commit such an inhumane act.

In related “injured Christian and Muslim community” news: percentage of Americans who believe Obama is a Muslim continues to rise…
h/t Black Mamba, EBD

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