Sarah Palin was such an idiot about the death panels non-troversy.

"WE need death panels."

Medicare needs to take a cue from Willie Sutton, who reportedly said he robbed banks because that’s where the money was. The big money in Medicare is not to be found in Mr. Ryan’s competition or Mr. Obama’s innovation, but in reducing the cost of treating people in the last year of life, which consumes more than a quarter of the program’s budget.

Of course, it'll just stop right there. With people in the last year of life. And no one else. Ever.

There aren't any other possible cost-cutting, "futile-care" options to be considered elsewhere in an age of austerity.

Buckle up.

What. A. Shock.

Quantitative easing--the process by which the Fed has attempted to boost the economy by printing money to buy securities, and such--is a regressive tax on those with lower incomes.

But it's a boost for the rich, so Ben's got that going for him, which is nice.

Last month, the Bank of England issued a report that must have made Fed chairman Ben Bernanke squirm.

It said that the Bank of England’s policies of quantitative easing – similar to the Fed’s – had benefited mainly the wealthy.

Specifically, it said that its QE program had boosted the value of stocks and bonds by 26 percent, or about $970 billion. It said that about 40 percent of those gains went to the richest 5 percent of British households.

Many said the BOE's easing added to social anger and unrest. Dhaval Joshi, of BCA Research wrote that  “QE cash ends up overwhelmingly in profits, thereby exacerbating already extreme income inequality and the consequent social tensions that arise from it."

Here's a link to the Reason piece referenced in the article. Not a big fan of Reason as a whole, but the analysis here is sound.

It won’t be a surprise to read conservatives lambasting this as unconventional monetary policy meant to help re-elect President Obama. And inflation hawks have already started screeching. But the loudest cry of “for shame” should be coming from the Occupy Wall Street movement.

Quantitative easing—a fancy term for the Federal Reserve buying securities from predefined financial institutions, such as their investments in federal debt or mortgages—is fundamentally a regressive redistribution program that has been boosting wealth for those already engaged in the financial sector or those who already own homes, but passing little along to the rest of the economy. It is a primary driver of income inequality formed by crony capitalism. And it is hurting prospects for economic growth down the road by promoting malinvestments in the economy.

How is the Federal Reserve contributing to regressive redistribution, income inequality, and manipulated markets? Let’s flesh this out a bit.

Last month, Bernanke said that quantitative easing had contributed to the rebound in stock prices over the past few years, and suggested this was a positive outcome. “This effect is potentially important, because stock values affect both consumption and investment decisions,” he argued, apparently under the belief that the Fed has a third mandate to support rising stock prices.

This is ironically a trickle down monetary policy theory, where rising stock prices mean more wealth and more consumption that trickles down the economic ladder. One problem with this idea is that there is a gigantic mountain of household debt—about $12 trillion worth—that is diverting away any trickle down. An even worse assumption is that the stock market really reflects what is going on in the real economy.

If we had a news media (as opposed to high-production value fanzines) interested in fulfilling their functions as the only private businesses protected by the Constitution, they might ask the President--allegedly the tribune of the little guy--about the hammering effect of such a policy.

 But we don't.

"Equally condemn..."

Or, "an object lesson in how not to reassure."

“There is a need for deterrent legal measures against those individuals or groups that want to damage relations between people, spread hate and incite violence,”  Osama Siblani, Publisher of The Arab American News said in a statement. “It is a need that Americans should seriously consider.”

Sibliani is one of the organizers of a rally in Dearborn, Mich., that will denounce both the video and the deadly terrorist attacks on the U.S. Embassy in Libya. “While we condemn violence against innocent Americans abroad, we equally condemn the continuing efforts by misguided individuals to hurt the religious feelings of Muslims,” he said in the statement.

I don't know...how about seriously considering growing a thicker skin instead?

Or seriously considering violence to be worse than insult? Apparently that's too much to ask.

Nah. Better to run the Bill of Rights through the shredder, then nuke it from orbit. It's the only way to be sure.

"If something cannot go on forever, it will stop."

This is known as "Stein's Law."

Just something to ponder, as we consider the Fed's enabling of fiscal irresponsibility:

The central bank's recently announced bid to stimulate the economy has also taken the pressure off politicians to deal with the U.S. fiscal cliff, Lindsay argued, which could result in destabilizing tax hikes and spending cuts automatically taking effect early next year.

"The Fed, maybe because it can't do otherwise, has told the Congress: 'We're going to buy your bonds no matter what,'" Lindsey said. "I think that's keeping the pressure off the president, off the Congress."


The effective of QE3 on interest rates may also keep Congress from reining in borrowing.

"If the (Fed) chairman's estimates of the effectiveness of QE3 on interest rates come true, we're going to be down to an average cost of borrowing for the government of 0.6 of a percentage point," Lindsey said. "Why would any Congress not borrow and spend if they could borrow at 60 basis points?"

Buckle up. I'm not sure where this ride ends, but the destination is almost certainly going to be some place we never wanted to go, nor ever imagined we would be.

Reinstalling the Sovfilter.

Even though nobody asked for it, we have the return of full-blown moral equivalence, courtesy of that cack-handed speech delivered at the U.N. yesterday. Oh, sure--there were the (contractually-obligated boilerplate) good parts, but they were more than cancelled out by the desperate, knocking-knees attempt to reassure that we understand your outrage, and are determined to validate it.

Back in the days of the Cold War, our Non-Aligned Press would desperately try to burnish its Objective credentials by pulling a Derek Smalls and attempting to be lukewarm water between the U.S.' fire and the Soviets' ice. Which meant, basically, that you'd get the grandsons of Walter Duranty waxing flatulent about such things as "why yes, the U.S. has certain freedoms, but the Soviets have free health care, so there" and trying desperately to put an "objective" spin on such Soviet faux pas as invading Czechoslovakia or crushing Solidarity. After all, the Soviets were different, and valued different--but certainly not bad--things.

Like autocracy and famine.

Ok, maybe there was the occasional crop failure, or something, but it's convenient propaganda to suggest there were deliberate efforts to starve inconvenient peoples, or that there were mass slaughters which built various communist regimes. You can't trust dissidents and their agendas. We must be objective. We shouldn't report incendiary charges.

What? Oh....

Oopsie.

Hey, is that Kim Kardashian's ass over there?

Likewise, we have a determined effort to downplay what is happening in the Middle East, to not report on its, er, inconvenient features, and to paint it as something it manifestly is not--the aspiration for Western freedoms. This ugly putz begs to disagree, and he has the organization which has successfully said otherwise.

So, yes, if you still have your old Sovfilter from the Cold War in the attic, now would be a good time to break it out and reinstall it. Our betters are cranking out the propaganda again.

Bon Voyage, First Amendment.

You were awesome for a while, but then the Left determined that you were a hindrance to the greater causes of free abortions (as ironically cheer-led by a wealthy law student) and appeasing savages.

[As a stick-in-the-eye bonus, scroll down to Matt Yglesias' tweet in favor of secular Caesaropapism. Marx couldn't have said it better. Actually, no, he couldn't--Marx wrote a hundred years ago or something. For the products of recent head-up-your-ass-schooling, let me translate in your attenuated pop culture understanding: all your stuff are belong to State. OBEY.]

Apparently, sometime after Muslim terrorists massacred three thousand of us, it was determined that we'd be better off if we treated Islam as a shadow state religion and said blaspheming (read: criticizing in any way not likely to be approved by Saudi-trained clerics) it was bad. Easier that way.

Priorities.

To show you what the administration’s priorities really are, an employer that does not offer health insurance under Obamacare will pay a $2000 annual penalty for each worker.

But the penalty for failing to offer the pill is $100 per day per employee.

So, it’s $36,500 per year if you don’t cover an employee’s IUDs, but only $2000 if you don’t offer her anything *at all.*

Yeah, tell me how it’s all about taking care of the uninsured.

Stall speed--at best--by Election Day.

Should be a lot of economic fun for the country, and not just this year.

But they'll try putting more on my great-grandchildren's tab first. And when that "works" for only a week, watch out.

Meandering on.

Um...yeah.

OK, well...I'm awfully intermittent here, so thanks for humouring me. So, let me proffer a potpourri of links as restitution.

If you'd like to see me in person, I'm making a triumphant return to the stage (last seen in college) in a local rendition of Fiddler on the Roof. I'm playing Mordcha, the innkeeper, in three shows. An asteroid is born!

I know what you're thinking--"What's a Teroid?"

The Pope goes all-in in San Fran. Interesting times, as they say.

The home front remains interesting as well, though we are hoping for such to die down. The Eldest Son is bucking for traditional school at the rate he's going. What can you do?

Mayor Ratched goes a step beyond La Leche League, locking up the formula. By the by, Jeff's place is a lively locale, rewarding repeated visits--a haven for limited-government folks not interested in buying what the GOP is selling.

I have been violated! Ok, tagged. I won't hate, but need time to ponder.

An intrepid soul's taking a run at a Byzantium novel, and one worth watching. Yes, I offer advice in the comments. Like I could resist.

Don McClarey gets the annual bomb debate off to a contentious start. Lawyers... My thought: I'm glad I wasn't Harry Truman.

Professor (and father of 5) Amitai Etzioni explains that asking "does being a parent make you happy?" is the wrong question.

Tragic, telling Detroit quote of the year: "There's nothing here but the devil." Two suspects have been arrested.

If the facts hold up (fog of war, etc.), this is as surprising as the sun rising in the east.

Oh, and our new parish is finishing up a genuine renovation, as opposed to wreckovation. The original movement of the altar forward mercifully left the altar rails and everything else intact. Unfortunately, it created an acoustical sump by covering the raised platform for the altar with gold plush carpeting. Oh, and the altar was wooden, and ditto the lectern. Here are some pre-renovation shots of our parish (Abp. Vigneron leading a pro-life vigil from there) from the invaluable Diane K at the Assumption Grotto site.

The old marble lectern has been pulled out of storage, and the entire platform has been redone in marble--from the same quarry as the church when built in 1956. The altar will be marble, and immobile, with a massive 3 x 5 slab for the altar top. The granite baptistery has been moved back to the altar area. I'll have pictures later--Bishop Byrnes is dedicating the altar on August 19 at 11am.

It feels like home.

Tippler post-script: Fonseca Bin No. 27 is my porto of choice. Costco offers it at a ridiculously-low price, so enjoy.

On the bright side...

Rachel had her First Communion at the redoubtable Assumption Grotto in Detroit. This one kinda captures our daily chaos better than the nicer photos.

 
Tommy's a handsome lad already. I think he has a future in grifting.

We have about 80 percent of our books out of storage. The kids have no excuse, really.

Those of you inclined to play "Where's Waldo?" can try to guess at the volumes in question. And no, this isn't all of our shelves. Just a sampler.

Offline to deal with spammers for a while.

It's available again. Obviously.

FWIW. I know, I'm a bad blogger.

Smoke if you got 'em.

In addition to spammers, I've also been dealing with nuked credit, good and bad family stuff, along with occupational obligations.

Consider this your open thread, if you're so inclined. Michigan being a surprising battleground State, you can lecture me on how not voting for Romney is a vote for Obama.

Or some such.