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Advance Look At This Week's DC Melodrama

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Mon, 09/19/2011 - 09:11 | 1684096 Careless Whisper
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The Careless Whisper Morning Report

(Source: Not Goldman Sachs)



Siemens Exits Nuke Business


Berlusconi: "We Can Trade. After all, the pussy needs to go around." "There were 11. I only did 8 because I could not do it anymore."  Wiretaps Made Public.  Putin Defends: "They Are Jealous."


Mexican Congressman Found Dead


Analyst: It's Going To Get Ugly For Bank Of NY  Lawyer: They Never Got The Mortgage Files


Great Gatsby Part Deux: Ralph Lauren Spring Collection Hits The Runway


Newly Elected Pirate Party Candidate To German Parliament; More Freedom


Upstate NY Man Steals Car Because "The Train Doesn't Go To Walmart"


Greenwich High School Students Have Lunch Delivered




Mon, 09/19/2011 - 09:14 | 1684103 SheepDog-One
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Wednesday- Bernank pretends to pull Golden Unicorn from ass, fails.


Mon, 09/19/2011 - 09:17 | 1684114 buzzsaw99
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nothing but rainbows and brightly colored candy comes out the bernank's ass.

Mon, 09/19/2011 - 09:21 | 1684120 DollarDive
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Obama's tax reduction package needs to be taken seriously.  


I was looking at the 2010 census and the income distribution, doing some research..... and I noticed some interesting data:


(see the chart:   http://displacedema.blogspot.com/2011/09/us-household-income-distribution-2010.html )  


  • You'll notice that there is basically only 2% of the population that earns greater than $250,000 per year based on the census.   
  • You'll also notice that 4% of the households make less than $5000 per year.  
  • 50% of the households make less than $50k.  

We all know that deficits need to be reduced.  The only way to do it is to tax those that can still afford it.  You can't get blood from a stone - the middle class is broke and unemployed.  Unfortunately the costs of doing business in the USA have gone up over the past 20 years due to decisions made years ago.  The middle class has already paid their fair share.  

It's time for the wealthy and the corporations to step up.  Sorry for getting political, but I felt that this data is real important.  I wanted to share it and encourage some discussion.

Mon, 09/19/2011 - 09:38 | 1684184 TrulyBelieving
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Why do you think that the only way to reduce deficits is to tax those who can still afford it? If after you tax them until they can't afford it, then who is next?  Have you not considered that the gov could reduce spending, thus reducing the deficit? Or better yet spend only what it takes in and that only after paying on the deficit?  Why is it I feel i am asking questions to an idiot?

Mon, 09/19/2011 - 09:39 | 1684210 Spastica Rex
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But what happens when the bread and circuses stop? Lots of unhappy plebs with nothing to lose, I reckon.

Mon, 09/19/2011 - 09:24 | 1684145 lolmao500
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IS it me or not passing a budget in time is unconstitutional?

Mon, 09/19/2011 - 09:32 | 1684185 Kina
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Lucky Europe is in big trouble or this continual ....Congress enacts stopgap funding for the new fiscal year... would be quickly become stopgap confetti..

Mon, 09/19/2011 - 09:37 | 1684199 fwchiro
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REO inventory surpluses are easy to manage, just bulldoze them to the ground.  Builders are happy, RE agents are happy, current homeowners are happy, where's the downside?...oh, that's been...Detroit...ah, we'll have to see how that works out.  My new proposal is to start the bulldozing at 1600 Pennsylvania Ave...

Mon, 09/19/2011 - 09:39 | 1684213 spanish inquisition
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Huge negotiations and politiking in DC the next month. I am long hookers and blow for the DC area as supply is going to be constrained with high demand. Gonna have some calls on single malts and heroin if we need to take a break due to intense negotiations. I have reservations in the best restauraunts for the next month and sold puts in case we are done early.

Mon, 09/19/2011 - 09:40 | 1684219 lolmao500
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Yeah the US dollar and US treasuries are real lucky it's bad in Europe...

Mon, 09/19/2011 - 09:52 | 1684281 DeadOnArrival
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The threshold of household income of $250,000 is too low to be considered rich/wealthy.  Net of federal, state and in many cases local taxes, plus property taxes & HOA dues, most at this level are already paying their fair share.  Also, keep in mind many support charities, enroll their children in private schools, employ household service providers (housekeeper, pool service & gardener), pay a tax accountant, etc.  Not to mention 50% of the married population are or will be divorced and their income/NW is further divided.  Gov't as % of our ecnonomy is too high and more taxes are not the answer.  IMO, only when a Balance Budget Amendment is passed will then increasing taxes be part of the solution which must require a return to a more sustainable size of Gov't and reliance on private industry for economic prosperity.

Mon, 09/19/2011 - 11:15 | 1684663 CrashisOptimistic
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Are we still on track to see dollar-for-dollar spending cuts for every dollar of Continuing Resolution authorization?

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