In the “I told you so” category . . . and you’ll recall my previous rant on follow the money and who would benefit from a faux debt crisis . . . the answer to the question “What will corporations rolling in cash do with that cash?” is not, employ people. It is “merger Monday” where Google writes a check for billions of dollars to buy Motorola Mobility. Pink slips to follow.
In other news, Warren Buffet paid 17% in taxes last year. His calls to the know-betters on the right is to sniff. What could the second richest man in the world possibly know about capital formation and job creation?
Rick Perry, the latest savior of the Grand Old White People’s party is now accusing our Fed Chairman of “treason.” Not an especially nuanced word. Hmmmm, let’s see, what are the twin mandates of the Fed. The first is hold down inflation. Check. The second is full employment. Seems like the FRB has done everything it can to pay off the bets made by the idiots on Capital Hill and back stop their non decisions. Yeah, that seems like treason to me.
And to think I used to have a bunch of Swiss Francs sitting in a drawer some place.
It’s been awhile so don’t be surprised if there isn’t a Somali pirate siting, perhaps in Galveston Bay this time.
Note to RIM senior executives. I assume your golden parachutes are packed and ready?
I don’t know about you but I know I’ve been thinking that what this country needs is another Christian Conservative, never had a real job other than in government President from Texas. Let the snide remarks about community organizer begin. Is this really the best we can do?
Note to Red Sox nation. You may be able to beet CC Sabitha but you can’t beat the Mariners.
And the market’s response to the SP downgrade? Joe and Mary Sixpack panicked, went to cash, and got screwed. Again. The high frequency guys made tons of money. And treasuries are flying out the door at the lowest yield anyone can remember.
Speaking of the dollar, have you met it’s idiot brother the Euro and its crazy uncle the Yen?
Next year, I vote for the Mariners just skipping the first half of the season so we can get straight to the youth movement part. Much more entertaining.
Any thought that the patent laws might be overhauled were deep sixed by GOOG, MS, and APPL
Does anyone know the over under on the date Greece gets kicked out of the EU?