WC Varones

Purchase of three able-bodied twenty-somethings whose other cargo was a 12-pack of Shock Top beer.

Supplemental "Nutrition" Assistance Program indeed.

Longtime hero of the W.C. Varones Blog Kevin Williamson does what we've all wanted to do in a theater (no, not the Fred Willard thing; the standing up to cell phone jerks thing).

Is the lottery really your best shot at avoiding Alpo in your old age?

Apparently so. 57% of workers surveyed had less than $25,000 in total savings and investments.

1) Buy any asset that is not yet in a bubble, because it soon will be.

That's the impression you get from this Hilsenrath Wall Street Journal tribute:

Later, as president of the San Francisco Fed, Ms. Yellen sounded early warnings about the danger of a U.S. housing bust. "I still feel the presence of a 600-pound gorilla in the room, and that is the housing sector," she said at a June 2007 policy meeting, according to Fed transcripts. "The risk for further significant deterioration in the housing market, with house prices falling and mortgage delinquencies rising further, causes me appreciable angst."

Three months later, she foresaw a dangerous economic cascade.

"A big worry is that a significant drop in house prices might occur in the context of job losses, and this could lead to a vicious spiral of foreclosures, further weakness in housing markets, and further reductions in consumer spending," she said, at a September 2007 meeting. "The potential effects of the developing credit crunch could be substantial."

Contrast that to what Bozo the Bernanke was saying at the time:

U-T:

The San Diego County Taxpayers Association on Thursday issued its annual awards for bad government — and good.

[...]

The group gave its top award, the Grand Golden Fleece, to the Poway Unified School District for a $105 million bond issue that will cost taxpayers nearly $1 billion to repay. The unfavorable rate structure was exposed by former reporter and blogger Joel Thurtell of Michigan last year.

$105 million that will cost $1 billion? Who would approve of such idiocy? Oh. That's right, the San Diego County Taxpayers Association:

The bond also had considerable cachet, thanks to a coveted endorsement from the San Diego County Taxpayers Association. Indeed, association President Lani Lutar’s name was first on a list of five local dignitaries named on the ballot as supporting the bond.

(Full ballot argument with Lutar's signature here.)

The San Diego County Taxpayers Association represents developers and crony capitalist interests, not taxpayers. It is a pay-to-play organization, and its board and executive committee are a who's who of people doing business with government agencies.  No doubt some of them expected to get lucrative construction contracts from the Poway school bond.  Lutar herself is a government insider with no taxpayer advocacy experience but plenty of experience with unaccountable big-money government bureaucracy SANDAG and the crony capitalist convention center project.

But giving the Golden Fleece Award to Poway for a bond the SDCTA themselves endorsed? I hereby pronounce the SDCTA the winner of the Golden Gonads Award.

The dude is good.

 

Remember the physical gold shortage of 2008? Spot prices were down, driven by leveraged futures traders, but people trying to get their hands on physical at anywhere near spot prices were out of luck.

Well, the same thing is happening in silver today. The spot price got crushed alongside gold in April from $28 to about $22, now just below $24. But try to get some silver at that price.

Take Liberty Coin and Precious Metal, a shop that has always had very consistent supply. I've never walked in there and not been able to get as much gold or silver as I wanted.  Until today:



Delivery delays of weeks, and stunning premiums of $4 - $5 over spot!

Happiness is...

fresh tracks in the office bathroom.

Indiana's WSBT:

The federal government says Indiana's suicide rate among its middle-aged population surged nearly 54 percent from 1999 to 2010, giving the state one of the nation's biggest such increases.

Thursday's report from the Centers for Disease Control and Prevention shows Indiana's suicide rate increase among people ages 35 to 64 was nearly twice the national increase of 28 percent.

The CDC report's 11-year time-frame includes the recession and the mortgage crisis, yet it doesn't indicate what may have driven the increases in middle-aged people taking their own lives.

But researcher Thomas Simon with the CDC's Injury Prevention Center says some of the possible factors behind the increases could include the baby boomer generation's historically higher suicide rate, the impact of the recession and increasing substance abuse.

Yeah, substance abuse. That's it. They didn't have drug addicts in the 90's.

HT: IP Freely.

If you'd asked us an hour ago who sang the early 80's power ballad "Keep on Loving You," we'd have guessed Journey or Foreigner. And we wouldn't have been able to name a single song by the actual band, REO Speedwagon. Thanks to the magic of the Sirius Satellite Radio, we now know the truth.

And thanks to the magic of YouTube, we've discovered a wonderful lost video.

T-Dub sends in this quiz:

The start of growth in income inequality coincides with what historical event?



ANSWER: dbbeebs and DooDoo Economics nailed it. In 1971, President Nixon, an admitted Keynesophile, took the dollar off the gold standard and turned it into a pure fiat currency managed by the propeller-heads at the Dirty Fed.

For more on how Fed money-printing creates asset inflation for the rich and food and energy inflation for the poor, please see January 2011's Government-sponsored income inequality in the U.S.

P.S. Note that the exact same time is when commodities went Full Retard and hourly wages decoupled from productivity.