House of Paine

Delong plays hard ball ? no way

    must be slow out there 
       on the left coast these days...

           here's 
     a  feigned hizzy fit 
                from 
         the ever repellent 
smart aleck
             mister delong  



===============================


=====================================
                this chumble chicken  
                has oft 
 senselessly  fouled         
     his  neighbor's nest 


           but  this time 
             i suspect 
                its  just for "kicks"

                   if only i could say  
                      on his behalf
                  
        this  gravy  stained fool
                 did it for 
                        kick backs .....
but no one pays 
even barge rates 
        for this type of  crap  ......

lirez -vous 


"last  month, 
the Bank for International Settlements (BIS)
 was the latest 
   big time out fit
   to worry aloud
 about the financial risks 
that the world 
seems to be building into its future'"

------- what a lead  eh? 

       big time talks of end time -----------------


 "“[A]ll the countries 
   hit by financial crisis
...experienced
 a very sharp slowdown,” 
the BIS says of 

Mexico in 1994-5,
 
East Asia in 1997-98,

 Russia in 1998,
 
as well as Brazil,
 Turkey, 
and Argentina subsequently."

------------ already   with the filler diller here?

        from  lead straight to   packing paper ?----------

 "It then cites 
“global current account imbalances,”
 particularly 
“the U.S. external deficit,” 

--------  deficit 
  whats he think
after years of this
 the word still has a "bing'
to it ?
  still makes 
 pb's ears perk ...?-----------


 
 "“ its unprecedented 
for a reserve currency country
 to have a current account deficit 
of such magnitude.”"

----------- maybe a hook here ...
        but then watch what happens  ------

 "In short, 
the world has become
 “increasingly prone to financial turbulence.”"

-------- more fog horn
              packing paper

however 
perhaps sensing he's losing altitude 
   
motice 
     this wild spasm  -------------

"The BIS hints at the possibility 
    of a financial crisis 
              that
 with the United States
           at its center,
 would dwarf all crises since 1933"


------- hints ?

 dwarf ?

  since '33 ?
 
got yer attention  el senior babbit ?

well here comes some choir practice
for ya 
as in ...
the old one /two  --------------


" The BIS issues the standard recommendations:
 
  “Deficit countries should 

   1 ) reduce
 the rate of growth 
    of domestic spending 
below that 
    of domestic production

 and 

  2) Allow their currencies 
to depreciate in real terms 
to  make their tradable products 
  more competitive


 and  by these two moves
    provide an incentive 
for  domestic production
        to shift 
out of non-tradables
       and 
         into tradables.”"

-------- aaah now comes
        every  burger  butt
and bidnut man's 
               fiscal centerfold ----------

" This is economists’ code
 for the United States
 must  cut its budget deficit"

--------  diet diet diet

      followed by
     every luft -smuck's  
             arm chair 
                   solution  to foreign econcon
                            menace   mirages -------------- 

 " while other surplus countries
  like China and Japan
must  let the value
 of the dollar fall 
and  their own currencies rise "


-------- we're now well into
        the sunday school 
non partisan 
 scold them  incumbent recumbent politicos  ---------

"  America’s government 
has stuck its head in the sand"

---all the better to get a wally boy ass fuck --------


  “No one 
 with federal budget responsibilities 
actually seems to be interested
             in the budget.”"

------- a nation adrift in complacence
           the dark side of the moon
                             of 
                           ma  
                        base ball 
                           and hot cross buns  ----------

 " This is not 
because the budget committees
 are too busy
....[T]he House and Senate...
are not doing much of anything
...[because] they don’t want to "

------  traditional belt way 
                summer snorrr  ----------

" Within the Bush administration,
 Director of the Office 
of Management and Budget 
Josh Bolten 
has been virtually invisible "

------------ 
why should we
hear from him
   foor mercy sakes
  he's not even a human
           he's a chess -apeak partridge 
  
" the chain man "
  discovered 
        hatchin eggs
            in his garden hut ----------

 "while the president and vice president...
avoid talking publicly about the budget"

------ thank you
for pointing that out
  i doubt
  the nation has yet  noticed --------------

" It is not that politicians 
wish to take the lead 
on fiscal consolidation 
but are failing to gain traction
 it is that there are no 
influential politicians 
who are even trying 
to steer the United States
 toward a more responsible fiscal policy"

--------- okay
           so why ? 
             mister big shot
                          why? -----------

"Governments that pursue policies
—whether America’s fiscal laxity
 or China’s exchange-rate peg—
that create unsustainable imbalances 
do so for what they regard 
as important political reasons"

----- which in this case are .....?---------- 

"Appeals to change their policies,
 and thus contribute 
to the common global good 
of financial stability, 
are fruitless unless 
others 
also are seen 
to change their policies, 
act responsibly 
and so contribute to the common good"

-------- a game of "u first ...no u first " --------

"As the world’s largest economy,
 the United States is best suited 
to lead by example,
 but it has so far failed 
to play its part "

 ----- reason's of  special
         even national interest 
      must be put aside for the global good ------ 

" Treasury Secretary John Snow 
has spent almost no public time 
on the budget,
 but a lot of public time on China"

------- "take out that mote
no you take out that beam
 u yellow mother fucker "
    "beam if i got a beam
you  cowpokin shit ball
           u got a  sequoia "-------

" Republican political operatives
 care far less about national savings 
than they do about manufacturing
sector job losses"

---------- then don't he call his spade a spade ...._------

"“So what else is new?” 
you may ask. 
The list of issues 
on which the Bush administration 
has failed to lead 
is a long one,
 so why harp
 on its poor financial management?"

-------- like delong is the lonely voice
                     in the wilderness here 
    when every fuckin day
the deficit twins get hokey poked 
by gaggles of ink spills --------

" From a purely practical 
point of view, 
one reason is that substantial progress
 on ensuring global financial stability 
can be made relatively easily"

------- here at last a pitch 
 snake oil claims  
maybe they ain't aristophanes

      but they
          are  at least funny  -----------

"The Bush administration 
may not care that deficit reduction 
is the right policy for America, 
but it might care far more 
if the issue were framed 
as a prerequisite for policy changes
 abroad that diminish pressure 
from imports on domestic manufacturing employment"

----- whoops did i miss something here ?

no 

he jumped 
past 
why it would be easy 
to save the world economy
 from another great depression

 to his end stinger

  bush could sell the lobby guys 
on fiscal stringency
if he could show its a sine qua non
of say a  really lower dollar 
with really higher exports 
why the lacuna

why no entree 

  one has a hunch 
the column 
after running 
 too long 
on  open casket type
               excelsior 
     reached its 
 x hundred word limit
with 
our boys 
wonder nut 
still un- open-ed


  but hey

what the hell

    a jobs a job 


quality products...

shit thats for gooks -----------