It is hoped that this will ultimately help businesses and households get access to finance more easily.
TPM informs me,
The amount of money the central bank parceled out was surprising even to Gary H. Stern, president of the Federal Reserve Bank of Minneapolis from 1985 to 2009, who says he “wasn’t aware of the magnitude.” It dwarfed the Treasury Department’s better-known $700 billion Troubled Asset Relief Program, or TARP. Add up guarantees and lending limits, and the Fed had committed $7.77 trillion as of March 2009 to rescuing the financial system, more than half the value of everything produced in the U.S. that year.
Emphasis mine. So we can surmise that bullshit is priceless? Oh I must go read the acerbic optimism over at Zerohedge!
LONDON (Reuters) – Britain plans to pump 25 billion pounds into infrastructure projects, part funded by private investment from pension funds, to help bolster its economy, Treasury Minister Danny Alexander said on Monday.
Clegg announce an additional £1 billion for youth employment last week.
Also, too, Bill Keller over generalizes many things, as many newspaper and talking heads do, to explain why nobody is doing anything about our crappy economy because of left right biases, and basically explains consubstantiation for Catholics and non-Catholics as well, which is that which everyone believes in, but nobody understands.
But then again, also, too, I’m just a blogger, what do I know?
I am in worst case scenario mood, which is highly conjectural, and beneath the dignity of this ‘ere blog.
So neener neener,.
Don’t even get me going on supply lines to the legions in Afghanistan.
aka EZSmirkz, aka EZSmirks, aka BKL, aka Bleeding Knuckle Liberal, aka, Ens, aka Boris, aka, HDT, aka etc etc, all is forgiven.
(Old LOLs die hard) Long ago and far away, in another galaxy, where sock puppets came from, when it was impolite to tell conservatives to,”shove it up your Nazi ass and waddle on out of here,” and such, ( and you know such don’t you?), having more than one log in credential to various fora was considered good policy, if poor taste, (and you know poor taste, don’t you?), if one wished to continue calling liberals bleeding heart commie fags, (and you know bleeding heart commie fags, don’t you?), which even involved daughters of our very own Vice Presidential elites, and such, (and we’ve covered, and suches previously, don’t you know.)
That all changed when we all became aware of all internet traditions and the fora died, because they had basically devolved into romper rooms, And the blogs, And the Twitter. And Facebook. All of which have changed, and not for the good, nor for the bad, but for the sake of it, which can be either good or bad, depending on your age, because as us old guys will tell you, change is bad, change is bad.
Which, BTW, is why I don’t have a new blog using my real name.
The New York Times warns that while protecting intellectual property is a worthwhile goal, the acts now being rushed through congress are the wrong approach.
Under the bill, copyright owners could direct payment providers like Visa and advertising networks like Google’s to cut off business to a Web site simply by filing notice that the site — or “a portion” of it —“engages in, enables or facilitates” intellectual property infringement or is being willfully blind to it.
Accused Web sites would have only five days to assert their innocence. And the payment providers and ad networks could not be sued by sites that were wrongly cut off, so their easiest course of action might be to just comply with copyright owners’ requests. If copyright owners could starve a Web site of money simply by telling a payment processor that the site was infringing on intellectual property, the bill could stymie legitimate speech.
Creating a system that allows you to lob unlimited baseless accusations at the competition? I can’t imagine what could go wrong with that.
Of course these are the same Galtiers that are watching Europe go over a cliff, America sink in its’ own mire, and other assorted boondoggles common to fanatics.
How come American national defense is never discussed under the context of world socialism?
With no news beneath it, reportedly in the wild.
For the first time in thirty years we have no children, grand or otherwise, coming over for Thanksgiving, nor any travel plans to be with any relatives whatsoever.
I think I’ll walk around naked all day.
Try it, you might like it.
A bizarre underwater “icicle of death” has been filmed by a BBC crew.
With timelapse cameras, specialists recorded salt water being excluded from the sea ice and sinking.
The temperature of this sinking brine, which was well below 0C, caused the water to freeze in an icy sheath around it.
Where the so-called “brinicle” met the sea bed, a web of ice formed that froze everything it touched, including sea urchins and starfish.
There’s a must-read op-ed in today’s New York Times by Yan Xuetong, the dean of the School of Modern International Relations as Tsinghua University. Writing as a self-described “realist,” Yan acknowledges that the emerging Sino-American competition is a zero-sum game (an idea deemed politically incorrect by many inside-the-Beltway), and plainly states that “competition between the United States and China is inevitable.” He approvingly quotes past Chinese sages as emphasizing that “the key to international influence was political power.”
It’s a good read,
How, then, can China win people’s hearts across the world? According to ancient Chinese philosophers, it must start at home. Humane authority begins by creating a desirable model at home that inspires people abroad.
This means China must shift its priorities away from economic development to establishing a harmonious society free of today’s huge gaps between rich and poor. It needs to replace money worship with traditional morality and weed out political corruption in favor of social justice and fairness.
and Walt’s analysis,
Whether the issue is the GOP’s stalwart effort to protect the super-wealthy, the bipartisan commitment to throwing good money after bad in Afghanistan, or the gradual hollowing out of the essential sinews of an advanced society (schools, roads, power grids, transport hubs, etc.), it is clear that our problem is not a rising China. On the contrary, the real problem is a befuddled and aimless political class, comprised of men and women lacking knowledge, accountability, political courage, or any genuine commitment to the common weal. What they’ve got in spades is personal ambition, but not much else. If “morally informed leadership” is a prerequisite for success, then we are in big trouble.
The title of the post is my own analysis.
National security response for the rest of us.
Maybe the Pentagon could do a war on banksters, also too.
The Defense Department’s Counter Narco-Terrorism Program Office has packed all these tasks and more inside a mega-contract for security firms. The office, known as CNTPO, is all but unknown, even to professional Pentagon watchers. It interprets its counternarcotics mandate very, very broadly, leaning heavily on its implied counterterrorism portfolio. And it’s responsible for one of the largest chunks of money provided to mercenaries in the entire federal government.