Lees and Orts

We’re hard pressed to select the quote that best epitomizes the ReThugs’ Malthusian 1 view of us 2: Is it Chuck Grassley’s (ReThug-IA), uttered shortly after the Senate passed their midnight “tax” bill:

I think not having the estate tax recognizes the people that are investing, as opposed to those that are just spending every darn penny they have, whether it’s on booze or women or movies.

Or vampiric Orin Hatch’s (ReThug-UT) thoughts on funding CHIP:

I have a rough time wanting to spend billions and billions and trillions of dollars to help people who won’t help themselves, won’t lift a finger and expect the federal government to do everything.

Either way, the gloves are off, people.

HBO says we have to wait ’til 2019 for Game of Thrones. They’re so wrong; it’s all Game of Thrones all the time.

À la lanterne!

Lees and Orts

If you thought the preceding was hyperbole, watch motherfucking Dean Heller (ReThug-NV) have a citizen with stage 4 cancer ejected from his town hall meeting for daring to ask about healthcare and Obamacare.

Lees and Orts

The difference an Administration makes…

Lees and Orts

As type the market is up, technically, a huge shit pile for the year, which nice and all, and s’posedly the result of the anticipated tax cuts for the rich. Hoo haa: Trickle up is working!!

Except…the market is already at Jimmy Stewart heights, and certainly well above any historical average. In fact, if you take a look at the S&P, you notice an interesting pattern –

P/E ratio 25.5 – Let me just note a healthy economy sits around 15, which means stocks are significantly overpriced. But don’t take our word for it; 2001 (the dotcom bubble) and 2008 (the subprime mortgage bubble) were the last time the P/E crept this high. Both good times, n’est-ce pas?
Earnings Yield 3.9% – Low enough to make Jason Statham cry, tolerated by investors to this point only because interest rates have been nonexistent. But rates are rising making business investments look like crap.
Corporate Debt – Massive, just freaking massive. And the earnings to pay these debts isn’t there (think Sears.) And as the interest rates rise, so does the real risk of bankruptcy.

Add the facts that the Obama economic boom is on its last legs, and the ReThugs are intent on redistributing America’s wealth up to the 1%. If this happens, shortly awterfward we’ll be looking at deep recession, one that — if Brownback’s Kansas ‘experiment’ is any guide– will overshadow both 2001 and 2008.

Folks will lose their jobs and the ReThugs will respond by cutting more government services, taking huge whacks at SS, Medicaid and Medicare, making it worse. The president* will send forth Sewer Rat Barbie to tell us it’s all the fault of the immigrants, the unemployed and Hillary Clinton.

The only way it could get worse is if the president* starts a nuclear war with DNK while inciting a conflagration in the Middle East.

So we got that going for us.

Lees and Orts

Show 2 footnotes

  1. The laboring poor, to use a vulgar expression, seem always to live from hand to mouth. Their present wants employ their whole whole attention, and they seldom think of the future. Even when they have an opportunity of saving they seldom exercise it, but all that is beyond their present necessities goes, generally speaking, to the ale house. An Essay on the Principle of Population, 1978.
  2. Where us equals everyone with less than seven-figure incomes.