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A man, a plan... and Photoshop CS5

REJOICE! by pablo June 30, 2011

You Bet! by pablo June 30, 2011

Eric Cantor Bets Against the American Economy

Bachmann & Cantor in Vegas

DAM(N) HOOVER! by pablo June 29, 2011



Look Out for That Meteor! by pablo June 27, 2011

Give It a Few Million
More Friedman Units

Throttle it Up in Wisc. by pablo June 26, 2011

Throttle it Up in Wisc.

Prosser's History With Fellow Female Justices

Full Faith and Trust! by pablo June 24, 2011

Seals the Deal!

Obama invites top senators for debt talks

Thomas Resigns! by pablo June 21, 2011

Faux News by pablo June 20, 2011

Fox News Host Calls Out Jon Stewart

Bad Move, Buddy by pablo June 20, 2011

White House Reporter Ed Henry Leaving CNN, Joining Fox News

It's No Real Thing! by pablo June 20, 2011

The Friends of Clarence Thomas

IOKIYAR by pablo June 19, 2011


$200 MIL FORTUNE by pablo June 15, 2011

Romney jokes "I'm unemployed too"

You will still be in 2013, jerk!

Habla? by pablo June 15, 2011

It'sa Small World by pablo June 14, 2011

Got Gas? by pablo June 13, 2011

Villain When it Goes Up...
Silence When it Goes Down

Members Only by pablo June 13, 2011

Papers, Please

Shrinking The Vote: Using Election Reform To Decrease Turnout

Jihaadist by pablo June 12, 2011

Santorum: I Would Advocate That Any Doctor That Performs an Abortion be Criminally Charged

Eric "Racist" Bolling by pablo June 12, 2011

Racist in Da House!

Fox Host Concerned About Obama Hosting ‘Hoodlums' in the ‘Hizzouse'

Born...Borrring! by pablo June 10, 2011

SS Must Die! by pablo June 10, 2011

Social Security privatization and the War on Women

Geithner Sucks! by pablo June 8, 2011

The Absolute Worstest Choice Obama Ever Made!
(other than to go bowling)

How Does Geithner Still Have a Job?

JobsJobsJobs by pablo June 8, 2011

How Times Have Changed!

New poll shows Romney ahead of Obama; POTUS still beats other GOPers

What all Dems are hoping for, (me included) is that the Rethugs nominate one of their wackiest candidate (pick one) and Obama strolles back into office.
IMHO,the money men (pick one) in the lamestream Republican party will, by hook, AND crook, hold their noses, and get Romney the nomination.
Game, set, match if the economy continues its death spiral.
Romney WILL be elected



BYGC* morans, (sic)

I Am Aware of All Internet Traditions

*Before you go crazy

Tweet...Tweet! by pablo June 7, 2011

Bring Me the Head of Antonious Weiner

Now...Unleash HELL!

Ring My Bell! by pablo June 5, 2011

"You know what, I didn't mess up about Paul Revere," Palin replied. "Here is what Paul Revere did. He warned the Americans that the British were coming, the British were coming and they were going to try to take our arms and we have to make sure we were protecting ourselves and shoring up all of our ammunitions and our firearms so they couldn't take it."

Christie's Air Force by pablo June 5, 2011

Records Show 31 Other Christie Trips:

You have to admire the sheer audacity of Chris Christie. He blows up a deal for a tunnel that would have eased the commuter crush from New Jersey into New York City, and now we know why: Because he isn't commuting by car like the peons! Crooks & Liars

Mother Teresa from HELL! by pablo June 4, 2011

Paging ANDREA MACKRIS * by pablo June 3, 2011

O'Reilly...Glass House
Glass House...O'Reilly


Lawrence O'Donnell Reminds O'Reilly About His Own Sex Scandal

Don't Know Much 'bout History by pablo June 3, 2011

Paul Revere and the Raiders

Word Salad Extra

Hitler Won't Save Us! (snark) by pablo June 3, 2011

The Mistake of 2010


Earlier this week, the Federal Reserve Bank of New York published a blog post about the “mistake of 1937,” the premature fiscal and monetary pullback that aborted an ongoing economic recovery and prolonged the Great Depression. As Gauti Eggertsson, the post's author (with whom I have done research) points out, economic conditions today — with output growing, some prices rising, but unemployment still very high — bear a strong resemblance to those in 1936-37. So are modern policy makers going to make the same mistake?

Mr. Eggertsson says no, that economists now know better. But I disagree. In fact, in important ways we have already repeated the mistake of 1937. Call it the mistake of 2010: a “pivot” away from jobs to other concerns, whose wrongheadedness has been highlighted by recent economic data.

To be sure, things could be worse — and there's a strong chance that they will, indeed, get worse.

Back when the original 2009 Obama stimulus was enacted, some of us warned that it was both too small and too short-lived. In particular, the effects of the stimulus would start fading out in 2010 — and given the fact that financial crises are usually followed by prolonged slumps, it was unlikely that the economy would have a vigorous self-sustaining recovery under way by then.

By the beginning of 2010, it was already obvious that these concerns had been justified. Yet somehow an overwhelming consensus emerged among policy makers and pundits that nothing more should be done to create jobs, that, on the contrary, there should be a turn toward fiscal austerity.

This consensus was fed by scare stories about an imminent loss of market confidence in U.S. debt. Every uptick in interest rates was interpreted as a sign that the “bond vigilantes” were on the attack, and this interpretation was often reported as a fact, not as a dubious hypothesis.

For example, in March 2010, The Wall Street Journal published an article titled “Debt Fears Send Rates Up,” reporting that long-term U.S. interest rates had risen and asserting — without offering any evidence — that this rise, to about 3.9 percent, reflected concerns about the budget deficit. In reality, it probably reflected several months of decent jobs numbers, which temporarily raised optimism about recovery.

But never mind. Somehow it became conventional wisdom that the deficit, not unemployment, was Public Enemy No. 1 — a conventional wisdom both


NY Times

reflected in and reinforced by a dramatic shift in news coverage away from unemployment and toward deficit concerns. Job creation effectively dropped off the agenda.

So, here we are, in the middle of 2011. How are things going?

Well, the bond vigilantes continue to exist only in the deficit hawks' imagination. Long-term interest rates have fluctuated with optimism or pessimism about the economy; a recent spate of bad news has sent them down to about 3 percent, not far from historic lows.

And the news has, indeed, been bad. As the stimulus has faded out, so have hopes of strong economic recovery. Yes, there has been some job creation — but at a pace barely keeping up with population growth. The percentage of American adults with jobs, which plunged between 2007 and 2009, has barely budged since then. And the latest numbers suggest that even this modest, inadequate job growth is sputtering out.

So, as I said, we have already repeated a version of the mistake of 1937, withdrawing fiscal support much too early and perpetuating high unemployment.

Yet worse things may soon happen.

On the fiscal side, Republicans are demanding immediate spending cuts as the price of raising the debt limit and avoiding a U.S. default. If this blackmail succeeds, it will put a further drag on an already weak economy.

Meanwhile, a loud chorus is demanding that the Fed and its counterparts abroad raise interest rates to head off an alleged inflationary threat. As the New York Fed article points out, the rise in consumer price inflation over the past few months — which is already showing signs of tailing off — reflected temporary factors, and underlying inflation remains low. And smart economists like Mr. Eggerstsson understand this. But the European Central Bank is already raising rates, and the Fed is under pressure to do the same. Further attempts to help the economy expand seem out of the question.

So the mistake of 2010 may yet be followed by an even bigger mistake. Even if that doesn't happen, however, the fact is that the policy response to the crisis was and remains vastly inadequate.

Those who refuse to learn from history are condemned to repeat it; we did, and we are. What we're experiencing may not be a full replay of the Great Depression, but that's little consolation for the millions of American families suffering from a slump that just goes on and on.

Promises, Promises. by pablo June 3, 2011

Obama Won't Extend Bush Tax Cuts Again: Pledge To House Dems

ChristieGate by pablo June 2, 2011

Gov. Rides Copter..OK..
Can't walk 100 Yards?

Sounds like a job for
Michelle Obama!

Chris Christie takes a helicopter to a baseball game

Weinergate! by pablo June 2, 2011

(Weiner says he doesn't know if the above picture is of him, but he did like Patton, and thinks that the General was a rock hard guy)

Leaked Emails Show Tip To Breitbart About Weiner Tweet

God-Awful! by pablo June 1, 2011

God Gives Bachmann The All-Clear

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