Guest Post: The Politics Of Consistently Bad Legislation

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Thu, 09/29/2011 - 17:04 | 1723777 Long-John-Silver
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SSDD Bitchez!  (Same Shit Different Day)


Thu, 09/29/2011 - 18:32 | 1724064 arizona11912
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SSDD all in preperation for Euro bond.....

Thu, 09/29/2011 - 21:33 | 1724523 Manthong
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"incentives inherent in any system"

Fear is a powerful incentive.. there needs to be at least as much of it in the minds of the politicians as there is in the minds of the electorate whose livelihoods they are destroying.

Thu, 09/29/2011 - 22:52 | 1724670 Cliff Claven Cheers
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News to expect in the coming days and weeks:

The Germans announce they are re-introducing the Deutschmark. They have already ordered the new currency and asked that the printers hurry up.

Thu, 09/29/2011 - 17:04 | 1723790 mayhem_korner
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Why are markets trading on what the governments do?

Why is money involved in legislation?

What's my Delta Tau name?

Thu, 09/29/2011 - 17:25 | 1723885 Osmium
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Kroger, your Delta Tau Chi name is Pinto.

Thu, 09/29/2011 - 19:23 | 1724171 buzzsaw99
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Why Pinto?

Thu, 09/29/2011 - 22:26 | 1724622 WonderDawg
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Why not?

Thu, 09/29/2011 - 17:11 | 1723809 anynonmous
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second contributor today to suggest that CDO^2 is a non starter

Might I suggest that the writer not confuse the universal disdain for Geithner with the fork tongued rhetoric from Merkel, Scheuble  et. al.  It's not that they don't appreciate that CDO^2 puts them beyond the fail safe point it's the fact that they are already beyond it.  Make absolutely no mistake CDO^2 is next up. 


This was not the leveraged, CDO^2 like structure that failed NY Federal Reserve President cum Treasury Secretary Tim Geithner had been pitching recently in Europe.  No, that idea has been dismissed out of hand

Thu, 09/29/2011 - 17:19 | 1723848 NotApplicable
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They're gonna have to square it again, and again, and again...

If only they can achieve infinite leverage, we'll all live in ZIRP Nirvana.


Thu, 09/29/2011 - 17:24 | 1723865 HpDeskjet
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Nope. You (and many other people) forget 1 thing that's completely different in EU compared to US => In US, Treasury/Central Bank/Politics/Banks/Large Companies are fully connected and almost interchangeable terms. Hence, no debate is needed to change an "inconvenient" law, to print money to benefit these groups, to rape the middle class etc. In EU nothing can be accomplished since all these groups fight each other both within and between countries. There is only one way to get Europeans on the same train and make the same Keynesian mistakes that US is making => disaster(s). If the CDO^2 will be constructed at all, it will be way too late.

Thu, 09/29/2011 - 17:28 | 1723889 jdelano
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Try this. Go to Germany. Pick the hottest girl at the bar. Ask her if she wants to have sex. If she says no, proceed to try and pin her down and have sex with her. Try this. Then come back here, tell us what happened and whether or not when a German woman says "absolutely fucking not' what she really means is "yes".

Thu, 09/29/2011 - 21:45 | 1724542 anynonmous
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above comments (excluding my own)  show a remarkable lack of understanding of German politics.  Read yesterday's results and then compare and contrast to what the pundits had to say and what the lovely Ms. Merkel and herr Scheuble had to say.  The German political class have forgotten more about corrupt deceipt than their Yankee counterparts have ever learned.

Thu, 09/29/2011 - 17:17 | 1723838 Gohn Galt
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Once Eurowide taxes are initiated, forever a piece of it will remain.

You can buy laws, just not fair laws.

Have any Americans looked into how much money and what steps you would have to take to not be subject to US taxes.  I think if you did you would be surprised and that you may feel more indentured servant than a free citizen.  But what is freedom?

Thu, 09/29/2011 - 17:19 | 1723850 mayhem_korner
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All legislation, and all wars, are about allocation.



And who'll deny it's what the fighting's all about

Thu, 09/29/2011 - 22:24 | 1724611 fuu
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I dunno why but your comment reminded me of this:

Thu, 09/29/2011 - 17:21 | 1723856 Ruffcut
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Sooner or later, most sheeps' will get that politics is complete grandstanding bullshit.

These shitbags thank their lucky stars for lower days of "asscovering".

Remember when asked to send tea bags to congress? I thunk it better to send them a diaper, instead.

Thu, 09/29/2011 - 17:35 | 1723920 Melin
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Wow, did someone mug Tyler?  So many posts today seem to cheer ever-more government regulation, limit free-speech via campagne contribution size, cheer the anti-capitalists on Wall Street.  What gives?  



Thu, 09/29/2011 - 18:55 | 1724109 The4thStooge
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anti-capitalists? are you fucknig kidding me? they're protesting the current system. if you think the current system is anything remotely resembling capitalism, you are living in a dream world. you took the blue pill didn't you?

Thu, 09/29/2011 - 20:08 | 1724303 Melin
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I think our current system is far from capitalism but my understanding of the protestors desire is certainly not a clamoring for laissez-faire.

What is this blue pill you speak of with such contempt and bad manners? 

Thu, 09/29/2011 - 21:10 | 1724482 flacon
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< whispering >Hush you two. You are both agreeing with eachother.  < / >

Thu, 09/29/2011 - 17:36 | 1723927 narnia
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money didn't flock to politics when the federal government lived within its constitutional scope.  the US didn't have a Federal Election Commission in 1910 & we didn't need one.

it's not the money that changed the scope & function of government.  it's the government changed its scope & function, and the money flocked to it.

Thu, 09/29/2011 - 17:44 | 1723950 bxy
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We also didn't have a fiat money system, the fed, or an income tax.....not a coincidence.

Thu, 09/29/2011 - 17:52 | 1723972 Piranhanoia
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I wonder when the government starts going after those sedititious bastards that tell the truth about the state of the chaos they are setting us up for?   Sorry, forgot where I was for a minute

Thu, 09/29/2011 - 18:01 | 1723993 Sambo
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Fantastic article. It should be sent around on the net in viral mode...

Thu, 09/29/2011 - 18:12 | 1723994 lynnybee
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pre-planned, deliberate, well-thought out & secretive, treason at the highest levels of government & theft at the highest levels of shareholders of the FEDERAL RESERVE BANK :

    Whatever happened to this mind-set, this patriotic way of thinking ?    

Thu, 09/29/2011 - 19:48 | 1724244 slewie the pi-rat
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the mind-set is still around, but not too widespread

a lot of ideologues;  this author wants election finance reform.  mike kreiger put a piece  about rebellion in america and it must be part of the fourth turning...;  we must be told who we are, what we are for and what we are against, and how to rebel and fight for what is right...blah blah blah

stay within yourself linnybee, enjoy the day, and don't take any wooden nickels! 


Thu, 09/29/2011 - 18:05 | 1723997 Rainman
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Shocking ..... didn't Obama say he got most of his '08 campaign mega millions from the little people a few bucks at a time....?? I'm confused.

Thu, 09/29/2011 - 19:33 | 1724198 lynnybee
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shocking ?   Obama outright lies, he has familial ties to the C.I.A. (do your research on the net) & he was put in place to deliver his constituents into debt bondage.    don't be shocked !

Thu, 09/29/2011 - 18:07 | 1724001 SeanJKerrigan
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We shouldn't be afraid to dream bigger than this.  Supporting Dylan Ratigan's ammendment only sounds crazy undoable until you remember we're in the fourth turning... and ANYTHING is possible.

By the way, if you haven't signed that petition yet, consider doing so:  It only takes a minute and is well worth the emotional satisfaction you'll feel having done something, even something very small.

To quote GK Chesterton: "You have not wasted your time.You have helped save the world. We are not buffoons but very desperate men at war with a vast conspiracy."

Thu, 09/29/2011 - 18:12 | 1724013 samsara
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A modist proposal

1.  Recind 'Corporation = Human' in court of law

2. Corporation cannot support spend on or corrupt a public official.   Make bribing a public official = getting caught with a pound of heroin.

1. Elected offical only gets paid for the years he/serves.

Salary of retired US Presidents .............$180,000 FOR LIFE

Salary of House/Senate ...................$174,00?0 FOR LIFE 

Salary of Speaker of the House ............$223,500 FOR LIFE                  Salary of Majority/Minority Leaders ...... $193,400 FOR LIFE  
Thu, 09/29/2011 - 20:48 | 1724422 BetTheHouse
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Yes. Very modest, particularly as it relates to the facts.  Members of Congress do not receive a salary for life.  And bribing a public official -- which by the way, is shockingly rare -- is already subject to approximately the same punishment as posession of a pound of heroin. 

Thu, 09/29/2011 - 22:38 | 1724645 WonderDawg
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Bribing a public official in our current system is thinly disguised as a campaign contribution.

Thu, 09/29/2011 - 18:20 | 1724039 Tic tock
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The POINT is 'to what extent you can leverage an unlimited balance sheet in setting i% policy'. The architecture works as a system of checks and balances, already we are in a Gold economy. This is not helpful, frogs will start raining.


Thu, 09/29/2011 - 19:33 | 1724201 disabledvet
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First off the vote in Germany is a big deal precisely because it's a huge vote of confidence in the Chancellor and for German leadership during this crisis in general. What actions will be taken I agree are uncertain as there appears a genuine conflict in Germany itself about the cost of bailing out their own banks let alone French one's as well. I certainly agree with the Treasury Secretary that it is absolutely critical that these banks continue to be backstopped whatever happens with Greece since the failure of these institutions will end any help to Greece in general and obviously will have deleterious consequences to certain instituions here in the USA. That does include Bank of America. That does include Goldman Sachs. Inosfar as "ridiculous laws on the books" they are legion. Perhaps we can start with the Kellog/Briand pact which outlawed war in the late 1920's and work our way back then?

Thu, 09/29/2011 - 23:57 | 1724700 Cliff Claven Cheers
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Thu, 09/29/2011 - 19:40 | 1724221 Ultros88
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In other (old) news:

Might particularly want to read the caption(s) for the two bottom left photographs.


tick tock....

Thu, 09/29/2011 - 20:43 | 1724411 mikmid
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we are fucked!

Thu, 09/29/2011 - 22:15 | 1724604 Snakeeyes
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And look what is has begat. Our economic growth trend looks like the movie Independence Day (cycling to zero before the attack).

Thu, 09/29/2011 - 23:49 | 1724773 Vendetta
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The market 'moves' when the "market movers" move it.

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