Focused Rambling

Why is the tax code so complicated?

Here's Hale Stewart's explanation , from Huff Post...

G20 protests, will bankers be swinging from lampposts?.... not sure, but I'm betting there will be cool puppets

Protests are underway at the G-20 summit ... There's always a festive and fun mood at the protests surrounding world leader summits (with some anger mixed in), and this one doesn't disappoint. Of course, it has drawn some attention after a professor from the University of East London predicted that bankers "could be hanging from lampposts during the protest . Professor Chris Knight is no longer employed after that statement. Check here for more from The Guardian on the G20 in general, and the protest specifically... Here's early video from the protest

Jon Stewart doing real news while other "news" agencies sleep... the de-pantsing of Jim Cramer

I hope you've been able to follow the Daily Show's fact-filled destruction of CNBC. As posted here the other day Rick Santelli was called out on his ridiculous rant on the trading floor, claiming all of America was opposed to bailing out the people that are in bad mortgages (he doesn't seem to mind bailing out Wall Street, especially while he's standing there screeching). That, and he said he would come on the show and then backed out at the last minute. The Daily Show put together some clips that clearly show CNBC making reckless and dumb recommendations or analysis on their programs. Another target of scrutiny by the Daily Show, was Jim Cramer , of whom Stewart played several clips in which Cramer gave terrible advice on companies that eventually went bankrupt in most cases. The whole thing became a media controversy, and Cramer went on "Morning Joe" a few days ago, and the MJ crew guffawed with him at Stewart, The impudence of such a financial illiterate to challenge great minds like Cramer was laughable to them. In reality, the essence of Stewart's argument is that it is hard to tell if CNBC is in bed with the people they're reporting on, because they seem to go to any lengths to prop up failing companies/stocks, or at least that's a key element of his argument. I guess that all the laughing about Stewart and the Daily Show's incompetence or gall exploded last night, when Jon Stewart shred Cramer and CNBC with knowledge and insight (and some pointed F-bombs). There are many that think it was an eye-opening smackdown of epic proportions, even leading to Cramer skipping "Morning Joe" today .
Watch for yourself, it's 20 minutes long but well worth it...

Life in prison...

Bernie Madoff is facing life in prison for his bilking of gobs of investors. Of course, Madoff is 70 years old, so how long is that really? Seems to me that if he gets 150 years and only serves 10, the remaining 140 years should be served by his estate (in other words, his money). Put the money he and his other flim-flammers (partners) made into an account that earns interest for the next 140 years, and at the end of that time you can make payouts to the ancestors of his bilk-ees. Or at least put his preserved body on display for 140 years after death in a place where folks can come by and throw fruit at it...

Rick Santelli and CNBC have ABSOLUTELY no room to talk... AT ALL

Rick Santelli of CNBC had a ridiculous fit for show the other day , evidently attempting to place himself in the pantheon of great fighters for ethics and personal responsibility. Basically, Santelli staged a little screeching challenge to Obama on whether Americans wanted to bail out their neighbors for "bad behavior". Of course, he managed to ignore the fact that that is exactly what we are doing for our rich corporate neighbors that gave the toxic loans. Following his poorly acted "explosion", Santelli was booked to be on The Daily Show, but backed out at the last minute. But don't let me try to explain Santelli's hypocrisy, you have to hear it best said by The Daily Show...

The Daily Show With Jon StewartM - Th 11p / 10c

CNBC Gives Financial Advice

Daily Show Full Episodes
Important Things With Demetri Martin

Political Humor
Joke of the Day

Seems that Santelli has decided not to respond to Stewart's lambasting... first good thought he's had in a week, obviously.

Worse than the Great Depression...

Is the current crisis worse than the Great Depression? Paul Volcker thinks it might be . Volcker is particularly struck by the speed at which other areas of the World have folded up shop right along with us, including Japan , and Europe , who are rallying together to combat the crisis. And then there was Norway ...

You know it's bad when...

Toyota loses money . I'm pretty sure that's the second sign of the Apocalypse...(the first was, of course, Joe the Plumber).