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Tony Petroski

Tony Petroski
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  • China has begun a week and a half of political pageantry that will complete the handover of power to new leadership, with Xi Jinping set to replace Hu Jintao as President and Li Keqiang to take over from Wen Jiabao as Premier. Observers will be watching the extent of any bureaucratic reorganization as an indicator of Beijing's appetite for reforms. The hugely powerful railways ministry, for example, could broken up and folded into the transport department. [View news story]
    "China has begun a week and a half of political pageantry that will complete the handover of power to new leadership, with Xi Jinping set to replace Hu Jintao as President and Li Keqiang to take over from Wen Jiabao as Premier.

    Crikes.

    This is how Nobel laureate Krugman thinks we should do things?

    (How would it go for us? "Noble laureate Chelsea Clinton is set to replace Nobel laureate Michelle Obama as President and...")

    Whew. We dodged that bullet.

    Still, as Nobel laureate Krugman points out, the Chinese know how to run the bullet trains on time...

    ..."The hugely powerful railways ministry, for example, could broken up and folded into the transport department."

    (I guess the bullet trains don't speak English today)
    Mar 3 07:36 AM | 3 Likes Like |Link to Comment
  • Fear, Gold, And An Inflation Whopper Of Historic Proportions [View article]
    How does he stack up under the other portion of his "dual mandate?"
    Mar 1 11:12 AM | Likes Like |Link to Comment
  • Italy's jobless rate increased to its highest level in at least 21 years in January, rising to 11.7% from 11.3% in December. The picture is even uglier for youth unemployment, which climbed to a record 38.7% from 37.1%. Meanwhile, manufacturing PMI fell to 45.8 in February from 47.8 in January. The MIB's not reacting well and is -1.5%, although the bond market seems fairly calm, with 10-year yields -1 bps at 4.73%. [View news story]
    "The picture is even uglier for youth unemployment..."

    What's wrong with those people? Have they never heard of child labor laws? Can't they boost the minimum wage?
    Mar 1 07:26 AM | Likes Like |Link to Comment
  • President Obama is due to meet with Congressional leaders today to discuss the $85B of automatic spending cuts that are due to take effect at 11.59 pm tonight - on the by now fairly strong assumption the sides don't find a way to delay the reductions once more. While the White House has been issuing dark warnings about the effects of the cuts, there's much confusion about which programs will be hit. [View news story]
    Leading From Behind:

    "What's that Axelrod? Chief executive? You're kidding--they expect me to run everything in this country?"

    "Well, isn't that what you wanted sir? Isn't that what we've been fighting for?"

    "Heck no Axelrod--back in my community-organizer days I had everything done by 10:00 AM and could hit the links by 10:30."
    Mar 1 07:21 AM | 2 Likes Like |Link to Comment
  • How the Fed Could Fix The Economy -- And Why It Hasn't [View article]
    "The fractional reserve banking practice is the mother of all pyramid schemes. "

    "Sorry sir...

    "Mr. Kramer has something to say to you."

    " What?".
    Feb 27 08:01 PM | Likes Like |Link to Comment
  • Gasoline Volume Sales, Demographics And Our Changing Culture [View article]
    Re-read Mr. Short's piece: "Gasoline Volume Sales, Demographics And Our Changing Culture"

    Gasoline sales is the short stuff. (cost going up)

    "But if we want a simple confirmation that the economy is in recovery, gasoline sales continues to be the wrong place to look"

    We do want a simple confirmation that...

    ...alas...

    the Oscars?

    ...Future!
    Feb 27 06:37 PM | Likes Like |Link to Comment
  • Bernanke Solidifies Gold Path To $2,000/Oz. [View article]
    "Americans are wonderful people. They look for the best in others and themselves. It goes against the American grain..."

    ....it goes against the...

    Well said Mr. McMurphy.
    Feb 27 06:22 PM | 1 Like Like |Link to Comment
  • The Debt Paradox That Everyone Should Be Aware Of [View article]
    "Assuming a retirement age of 65, baby..."

    (It hurts me to speak so plainly)

    We'll get over it.
    Feb 27 06:10 PM | 1 Like Like |Link to Comment
  • Electric Vehicles: Front Loading The Filth [View article]
    (coming to the defense of Mr. Petersen)

    "Sure, we can find smaller and smaller geographic areas where coal is a measurable percentage of electric power, but the FACT..."

    Come clean: (Pun intended)

    Give us a fix on where you are because "smaller and smaller" is the green mantra.
    Feb 27 06:00 PM | Likes Like |Link to Comment
  • How the Fed Could Fix The Economy -- And Why It Hasn't [View article]
    "...but with a full training camp..."

    (The original and authentic Lakers have similar problems)
    Feb 27 05:49 PM | Likes Like |Link to Comment
  • The Debt Paradox That Everyone Should Be Aware Of [View article]
    "The paradox is this: if we only rely on the most commonly reported figures, government debt would be higher in your fake world than in the real world."

    With you. Go on...

    "government debt is higher in my world and the fake world..."

    (liking the fake world more and more)

    "...government debt would be higher in your fake world than in the real world."

    Damn. Just when I was taking to the fake world...

    "No, the paradox is that it wouldn't, because of the way the government presents its finances. Nine times out of ten, debt is defined as..."

    ...

    I vote for "denial."

    Chicanery?

    "But the demographics are changing. Assuming a retirement age of 65, baby boomers began to leave the labor force in 2011 and will continue to do so until 2029. They'll increasingly take benefits instead of making contributions..."

    The boomers ain't done yet and we ain't askin' for no help.
    Feb 27 05:37 PM | 1 Like Like |Link to Comment
  • Gasoline Volume Sales, Demographics And Our Changing Culture [View article]
    (sorry to rain on the parade as Mr. Short is solid, as usual),

    but: "The Department of Energy's Energy Information Administration..."

    Close it. Sow salt over it. Give all the employees 1 week's pay. Sell the building to Buffett, or his secretary.

    We are free men or...

    Feb 27 05:17 PM | 1 Like Like |Link to Comment
  • Kabuki Theater: Analyzing Bernanke's Senate Testimony [View article]
    Mr. whidbey speaks sense.
    Feb 27 05:11 PM | Likes Like |Link to Comment
  • Kabuki Theater: Analyzing Bernanke's Senate Testimony [View article]
    "These policies have engineered a recovery on Wall Street that has been robbing the US and the rest of the World of its real productive capital and purchasing power for almost 4 years. It is time the insanity stopped... "
    --

    Quick--does Bernanke have a sister?
    Feb 27 05:03 PM | Likes Like |Link to Comment
  • How the Fed Could Fix The Economy -- And Why It Hasn't [View article]
    Gravity played most of the part.
    Feb 27 04:59 PM | Likes Like |Link to Comment
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