A douche bag is someone who lets you know who and what he is without any need of explanation: Mike Norman
We were wondering how long until the latest lunatic idea out of the "serious economist" mainstream would get the proper comedic treatment it so rightfully deserves. That time finally came last night when Stephen Colbert gave it the 3 minutes of attention it almost deserves. Oh well, now that it has made the comic circuit it is time to officially forget about this idiotic idea... At least until the next debt ceiling crisis in a year or so when like a bad sequel to Weekend at Bennie's Bernie's, it is resurrected once more.
A week ago we reported that as part of the surge in the Italian anti-austerity movement, the time had come for none other than that forced exile (courtesy of the ECB's bond yield tactics) whose political career ended prematurely precisely one year ago, Silvio Berlusconi, to announce not only his political ambitions, but his desire for vengeance when he made it clear he is willing and ready to scuttle Mario Monti's cabinet. It appears that in the April elections, Silvio may now be challenged by none other than Ferrari head, Luca de Montezomolo, boss of the Scuderia, who Ansa reports "has hinted he might rethink his recent No to stepping into the political ring after April elections."
Forget turning Japanese, an anxious-looking Paul Krugman appeared on Stephen Colbert last night to hawk his book and suggested that "Ireland is Romney economics in practice". Noting that Obama "inherited a Depression" but has unfortunately not taken us out of it due to a "whole lot of opposition from 'the other guys'". The Kaped Keynesian Krusader went on to note that "a recession is when things are going down but a depression is when things are down" and suggests an Obama campaign slogan "It's Not As Bad As The Great Depression" to which Colbert retorts that electing Romney would seem to be the path to 'ending this depression now'. While Krugman opines that if we would just re-hire all the government workers who have been laid off over the past few years then all would be well in the world, we suspect Colbert is closer to the truth when he comedically adds that "obviously the way to end the real depression is a war in Europe" and while USA is not Greece (or Uganda), it appears we will be Ireland if Romney gets elected.
It appears that slowly but surely the NDAA equivalent for the less than compliant on air mainstream media is picking up steam. First it was Napolitano's Freedom Watch getting cancelled by Fox (ostensibly for his endorsement of Ron Paul but who knows) some days ago, and now Politico reports that that political uber-lampoon Stephen Colbert has been also temporarily "suspended". From Politico: "The late-night comedy program hosted by Stephen Colbert will suspend production for at least two days this week, POLITICO has confirmed. The Colbert Report, the home of relentless parodying of super PACs and the campaign finance system, will not air original episodes on Wednesday or Thursday. "Due to unforeseen circumstances, the show will air repeat episodes on Wednesday, February 15 and Thursday, February 16,” Comedy Central Senior VP for Communications Steve Albani told POLITICO. Albani would not comment on the specific reasons for the suspension. It is expected that the suspension of original production will not be indefinite, and that the show will return soon." We can only hope that the ringing endorsement of freedom of speech by CC owner Viacom was not a major reason of the "uncommented" reasons for the suspension. Or lack thereof as the case may be in the US these days.
Even if Europe fixes their mess and China does whatever it is China does to paint their numbers for another few years, it will only serve to swing the spotlight back on this dinosaur of a Nation that is little more than a shell of its former self.
Who better to explain what is going on in Cairo to America's masses than Stephen Colbert. And yes, Jersey Shore analogies are most certainly included for comprehension's sake...
Someone has to lose but, in this case, the loser is the Federal Reserve Bank of the United States of America – which plays the part of the perennial sucker as they are willing to sit down at the table and be taken for all they have two or three days a week. And why are they willing to be so generous? BECAUSE IT’S NOT THEIR MONEY!
Stephen Colbert destroys "Dr. Blankcheck von Moneypants." Must watch clip.