Wednesday, February 17, 2010
I've been at it for 13 hours or so, but now am resting peacefully watching a recorded episode of "House" and sipping at a glass of merlot. Time for a tab dump!
Good for Michelle Malkin. I hope she and Cap'n Ed and Allah make a lot of money. Nothing delights an entrepreneur more than liquidity.
Power Line's Paul and John take a look at the Obama administration's apparently cool attitude toward India. History may regard George W. Bush's commitment to that country as his administration's most significant foreign policy success. Let us hope that is not the reason for Obama's reserve. The only addition I would make to the Power Line post is this: As important as India is to the containment of China, it is also our main instrumentality for coercing Pakistan to take our side in the struggle against the jihadis. During most of the last decade, whenever Pakistan's interest in fighting terror flagged, we would move closer to India and the Pakistanis would come around.
JP Morgan has apparently put up an amorphous $3 billion reserve against the possibility that the "quants" may be wrong again, a "model-uncertainty reserve." A back-handed compliment to JP Morgan, to be sure, but I do have a question: What facts do JPM know that are sufficient to prove the need for the reserve to the satisfaction of JP Morgan's auditors?
The Onion tackles monetary policy.
Out of 2,227 weeks on record, last week the Northern Hemisphere had more area covered by snow than 2,225 such weeks. Not just North America, but the whole northern hemisphere.
I don't want come off like I'm wishing poor health or an untimely demise on anybody, but this news is making me think evil thoughts. Lord, I apologize.
On the one hand, in light of all the spending in the last year the Republicans run the risk of looking ridiculous for filibustering a $15 billion jobs bill. On the other hand, what a remarkable measure of the change in political sentiment that Harry Reid cannot win a cloture vote over such a trivial bill.
Strip club etiquette. Aren't you glad I did not label it "news you can use"?
Not all immigrants make the same contribution. Some are more productive than others. I, for one, think that these findings ought to inform national policy, but am not holding my breath.
Those who enter on student visas, or the so called, "better educated" from India and China are not better educated, or more talented. Has the author of this piece not bothered to consider how the SBA grants have for a decade now been exploited to give foreigners from India and China the capital to start and buy businesses? From tech startups, to IT body shops, to hotels and other such businesses, our tax dollars are given to foreigners in exchange for politicall contributions, and those same grants are denied to citizens.
The newly retired CEO of Microsoft (not Gates, but his successor) recently wrote an op-ed bemoaning the lack of innovation coming from Microsoft, that's hardly surprising given that the company has displaced it's true innovators, citizens, with cheap foreign labor. Indians and Chinese are good at stealing ideas, but not in producing such innovations. Of late, an Indian national bragged about "his" tablet invention, one he stole from an American citizen. However, what he stole was incomplete and it proved to be a joke, and not marketable.
We are not producing innovators, because those citizens who would create such things are discriminated against because they are citizens. Please stop assuming that we need to cozy up to the corrupt and duplicitous India as some ally, they aren't our ally, they are a parasite. We would have them as an ally if we toughened our dealings with them and stopped allowing our jobs to be outsourced to their foul country. They have no where else to turn. They need us, more than we need them. Wake up, and abandon these neo-con delusions.
This is the correct Onion link:
It sounds as if Bernanke et al. have all been attending one of Goldie Hawn's Buddhist-enriched schools.
WV inesi - It inesi running the economy, when you are beset constantly by unexpected unemployment problems and the ingrate clods who comprise the public.
What facts do JPM know that are sufficient to prove the need for the reserve to the satisfaction of JP Morgan's auditors?
Monte Carlo simulation of effect of possible errors in existing models based on experience factors from losses resulting from previous models.
With all the great links to throw in, I can't believe you missed this one. Well, may I can believe it, since new embarrassments to the religious enviros are become so commonplace that one more is nothing at all.
As far as the anti-india screed goes (see above comment), I fully agree with TH on the importance of India to us going forward. Having a friend in Asia to add counterbalance to China, work to control the nutty terrorists and give us intelligence heads-ups on the region is important. Their economic growth only helps us. All-in-all, a great friend to have and a terrible adversary.
And, in re the study itself, I want to express my thanks to the European Union for sponsoring the study! As an American taxpayer I cannot say how refreshing it is to have someone else pay big bucks to learn "plain as the nose on your face" types of facts.