Mickey Kaus detects some possible monkey-business with the General Motors IPO & the Obama administration: Says Kaus: "But isn't it looking increasingly like the IPO is in trouble? I'm not a Wall Street expert, but I can read the papers. The IPO's already been scaled back, apparently, to the point where taxpayers may not unload enough shares to put them under the 50 percent mark. The global economy is iffy. GM has just abruptly switched CEOs . Its balance sheet is "loaded with fluff," according to Bloomberg. Its own IPO documents admit its "internal control over financial reporting are currently not effective." UAW locals are restive. And its market share is now seemingly below the target level. (A percentage point of share is a big deal in the auto industry.)"
Showing posts with label state capitalism. Show all posts
Showing posts with label state capitalism. Show all posts
Saturday, October 2, 2010
Monday, August 30, 2010
Sign of the times...
Sign on the wall of a men's room in China:
“Use of [Communist] Party Newspapers and Magazines as Toilet Paper Is Strictly Forbidden”
“Use of [Communist] Party Newspapers and Magazines as Toilet Paper Is Strictly Forbidden”
Heh. Today's Chinese Communist party would repel Karl Marx. They are a state-capitalist parasitical class who exploit their own people as rapaciously and ruthlessly as any foreign capitalists could. Marx, Engels, and the rest of the founders of the communist ideology would be the first use their publications for ass-wipes.
Sunday, August 8, 2010
Sunday, July 18, 2010
weblog
“Free Market Capitalism” is an Oxymoron - Kevin Carson (C4SS)
"The state played a central role in creating the defining characteristic of capitalism as we know it: the wage system. Had free markets been allowed to develop peacefully, with the peasant majorities remaining in control of their land and with free access to the means of subsistence, labor markets would likely have taken a much different form. Employers would have had to compete with the possibility of self-employment, available to the vast majority of the population. But thanks to Enclosures and similar land expropriations over a period of several centuries, the majority of the population was turned into a landless proletariat totally dependant on wage labor for its subsistence."
Flint, Michigan's Best Hope? Bulldoze most of the city - Slate (Gordon Young)
"First, he says, shrinking cities must accept that they're not going to regain their lost populations anytime soon. Abandoned houses and buildings should be leveled and replaced with parks, urban gardens, and green space. Eventually, incentives can be used to lure residents into higher density neighborhoods that have been reinvigorated with infill housing and rehab projects. While there are no hard numbers, local governments could save money by reducing infrastructure costs, and the housing market would stabilize, if not improve." Progress? Sounds more like triage.
Wednesday, March 17, 2010
weblog
When China's bubble bursts, the global impact will be severe for all of us. - Christian Science Monitor"Remember the 1994 movie “Speed”? A young cop (Keanu Reeves) had to save passengers on a bus that would explode if its speed dropped below 50 m.p.h. Well, China is like that bus with 1.3 billion people aboard. If the Communist Party can’t keep the economy growing at a fast clip, the result will be catastrophic."
"Obama is psychologically fragile, and thus self-medicates a lot with cigarettes, golf, and exercise." -iSteve blog
Aren't we all? Don't we all?
More homeowners are opting for 'strategic defaults' - LA Times
"Americans are fed up with hearing how they're supposed to honor their debts while businesses operate by another set of rules."
Iceberg Forensics: Predicting the Planet's Future With Antarctic Ice - Popular Science
Another reason vitamin D is important: It gets T cells going - Scientific American"Americans are fed up with hearing how they're supposed to honor their debts while businesses operate by another set of rules."
Iceberg Forensics: Predicting the Planet's Future With Antarctic Ice - Popular Science
Toshiba ends incandescent light-bulb production after 120 years. - Good Gear Guide
Pandering, groveling, and obsequiousness do breed contempt. - Taki's Magazine
Pat Buchanan explains why Israel treats America the way it does.
Twitter decides to be a "force for good". - TechCrunch (Michael Arrington)
"...it’s basically impossible to balance a profit motive with a goodness motive."ISPs that facilitate malware, phishing, and other bad stuff are coming under scrutiny - Technology Review (Brian Krebs)
Just like Elvis - Wall Street Journal online
The other King of Pop is worth more dead than alive too.
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