September 2006


Former chief of staff Andrew Card tried but failed to convince Bush to fire Defense Secretary Donald Rumsfeld. Maybe he didn’t find the right words? Let me try:

Mister Bush, please do me a favor, I know you can. Just get out of your presidential chair, take your big foot and give Mister Rumsfeld a big nice kick into his stupid fat ass.

Please?

All the articles that are trying to sugar the shit of current situation by saying that new home sales unexpectedly increased 4.1% in August are comparing apples to oranges. They are comparing unrevised data for August to revised July numbers.

As shown by calculate risk, the initial July numbers were 1.072 million, revised down later to 1.009 million. Comparing apples to apples August numbers (1.05 million) fell by 2%. Because later on, they will be revised down, too. They always do.
Don’t fool yourself!

The Greenspan & Bush games with taxcuts, budget deficit and 1% fed rate are going too funny now. This is the

real estate prices falling
Do you want to see September data? I don’t have them yet, but I bet you it should be so much more funny. Greenspan was a funny guy :-)

Did you expect me to say “inflation“? No, I’m saying deflation. As some well-known economists are worried about inflation, I’m worrying about deflation.

What happened just this week is amazing:

  1. M-1 money supply is on decline
  2. Housing starts are down 6%
  3. Thai cup will force players to decrease leverage
  4. Philadelphia Fed manufacturing index is -0.4
  5. Amaranth crash will force commodity players to decrease leverage (see M-1)
  6. NAHB housing market index is at the level, which is lowest since 1991

What inflation? See you at 3.5% soon.

The report says, when you need to sell your house you need to bury the statue of St. Joseph upside down. When the house sells you can dig it up. If you don’t have a statue of St. Joseph, you can shop for “St. Joseph home seller kit“.

St. Joseph home seller kit

I can only applaud Sen. John McCain for his opposition of Bush pro-torture stanza. As he knows what the torture is on his own proper ass, he is against it and is not afraid of the anger of Turd Blossom and Co.

I value his integrity and his hearty desire to be a good man in the party of assholes. But I still wonder – how come he is still a Republican?

About today’s column of Novak about Armitage involvement in Plamegate – it’s all spider fight in the bottle. Especially stupid the Novak spider looks when he claims that he is not Bush’s lapdog. Then who is he?

I want to see the blood, not saliva. Keep working, Mr. Fitzgerald.

The great book had spotted at Amazon: “Pop!: Why Bubbles Are Great For The Economy“. This book is pre-order only and it will be released March 1st, 2007.

I sertainly will remind you all about this book when time comes and we will laugh all together about bubbles and about economy :-)

Totally, absolutely amazing chart published by NY Times last week:

116 years of housing market

As you can see the housing prices appreciated by 10% in 105 years, or  0.1% per year (which makes it, by the way, a bad investment comparing even to savings accounts).

But in the recent 9 years we’ve got this amazing 90% run, which is approximately 10%  y/y appreciation. Well, the party is over, what is in front of us – a greatest roller-coaster of the century. This post is your “fasten your seat-belts” sign :-)

Very nice article:

The last word has yet to be written by the last appeals court on whether President Bush’s electronic eavesdropping of Americans is constitutional.

By his own words, however, President Bush has rendered revealing insight into why he defied the law and ordered eavesdropping without a special court warrant.

Bush, it seems, has no confidence in the machinery of the U.S. democracy or faith in the heritage of lawful governance.

While her reasoning is subject to scholarly debate, Federal District Judge Anna Diggs Taylor was absolutely correct in ruling that President Bush and the National Security Agency are conducting unconstitutional wiretaps.

And the conclusion:

What’s involved here is not sluggish government machinery, but the president’s insistence that he has the right to ride roughshod over laws he deems to be an obstacle to his powers.

In other countries, isn’t this called a dictatorship?

This president is taking the nation down a perilous road. He created moral justification for attacking another nation on grounds that turned out to be spurious. He embraces secrecy as a code of conduct. He repudiates the right of the accused to legal counsel and formal charges. He has proclaimed his privilege to ignore at least 700 laws enacted by Congress.

Judge Taylor has done a favor to democracy by restraining this abuse of power. The nation will be even safer if U.S. Supreme Court jurists hearing the Bush appeal show the same stomach to block his contempt for the democratic process.

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