House of Paine

greider's bump and grind

 what is it with me these days

properly chided by grack

and still at it 



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


if the doom tollers
 can johnny one ring
their bells 
so can I ...
and
 
   here's a fucking
             cascade of 
                  same note bells 
from 
herr greider 

  the man's 
 like one of those old fifties fullbacks

he plows into the line
   for "3 yards and a cloud of dust"

he hasn't the swiftness of foot 
 for an end run

 turn the corner??

hell he can't even  get out there   


but he'll make a ton of carries inside 

  problem:

  on both of 
   the E and E meters 
he's hopelessly feeble 

neither very enlightening
nor very entertaining ...

at least intentionally

 so lets look for
     some  sub text 
on this rainy mellow morn 

  greider on....
household savings :

"In July families spent
 at an annual rate
 $101 billion more 
than their disposable
income "

----- given the nature of these things
i bet there was one" shopping  day"
that month 
if  annualized ...
  
my point
annualizations 
like most  point extrapolations 
are silly
  booo !!!! or rah rah !!!!  moves 

one months rate
 does not a season make 

why not say

 at an unsustainable rate

      that is 
if you 
mean or dare 
      to say  something that simple

but more basic
why not throw in :
 
 today three years into "recovery "
  globe's trans-nat corporations
 are  still hording 
at  such a gigantic rate 
            the twin  deficit terrors :

1) large scale 
  gubmint 
      and 
     household borrowing
   
  and 
  2)the equally huge 
     international payments deficit 
are easily accomadated 
without 
 a interest rate spike

moral:

at least  get the real balance sheet
 sketched out 
before dumping in the bromides   -------- 


 -----------klass may leave here------------ 
----------------------------------------


     segment two 


------  try on this halloween mask ----

" (the current level of household
   dis-savings is )
     certainly the worst 
since ..........
              the banking crisis of 1933"

------
  the banking crisis  of '33 eh ??


okay 
 okay so thats 
    some pretty fine 
             unintended entertainment 

   a clown's florish
                  silly solemn  lovely hyperbole 

  to which i can only add 
  
     and  too think 
 this time it ain't even                  
        inducive by  
                   "fear it self" 
not at all 
in fact 
      quite the contrary ---------

------------------------------------
      more bumps waiting for us in the night 

greider on 
possible "convergences of bad things "


one 

" consumers  
( may)now pull back 
from spending 
to rebuild
savings
( and many will have no choice)... "

------ "rebuild savings"
dear   prudence 
what a euphemism 
and about whom ?????

and whats with 
the Dondi esque bathos 
       of
"many will have no choice "

 how about:

 way too many 
 fucking hapless  fools 
are  fast reaching  
 the tapped out   point...
             'credit wise'  speaking 
                                     of course 

 so consequently when they give out 
whats to sustain effective demand  ???------

  --- but here it really comes now ....---------

  "this retrenchment
may converge "

---- yes yes
double trouble 
that would generally 
     spell bigger trouble

       but errrr
       converge  with what ???---

"with other negative forces"

--------    ya ya shoot me the word here greidy 
  
  nope  

         what ho
  seems they are 
to be named at a later date 
but not their combinatory effect ...  --------

 
"  this  conjunction 
could
easily develop into 
a downward cycle 
leading to..."

 ( CUE ECHO CHAMBER )


              " RECESSION recession recession ......  "


  
  "Given these fragile circumstances"

 ------- NOTICE HIS CASE
 IS JUDGED TO BE  PROVED HERE 

 READ THIS AS :


 ' GRANT ME THE FOLLOWING 
FOR THE SAKE OF MY STORY:           
TODAY'S 
 WHOLE FUCKING ECONOMY 
         IS TEETERING 
      LIKE A GIANT TURKEY 
      ON THE TIPS 
      OF A LONG FRAIL BAMBOO  FORK
          THANX TO  
 TOO MUCH  BORROWED  SPENDING 
AND ...OTHER GHASTLY TERPITUDINOUS  NEGATIVES ------------


--------------------------------

A JUMP ...ONE OF MANY 

" the prevailing
currents of official thinking
 are all pushing 
the economy in the wrong direction "

------  note well lads :

   " official thinking" here 
                 is  "pushing the economy ..."

        MIND OVER PROSPERITY ---------

------ 

and more jumps

whats with the jumps any way ???


 is he trying to  avoid
getting
 plugged by a digital  sniper ????

this jump is more exciting though 
its a   sudden drastic leap  
  to great heights
from whence 
 to get a proper  
  op ed  
          pocket Odin  
                   overview  -------

" Economic policy is
often decided
 as an unpleasant choice
 among various bad
outcomes  "

  --- no comment..
the few of you still reading on
                feel free to  savor  -----

--- today i remind u 
is  one of those 
      dismal choice days 
proof you're here -----

------ so he some dismal posing does -----------

"which consequence 
would be the worst for the
country right now ? "


-------on the one hand 
keep at the borrowing and ...-----------

" Swelling federal deficits 
 will have deleterious
effects on the future  "

----- that appears to be short hand 
for something intricate
 and highly detailed 
he's forced (by space pressure) 
to cram  into that tiny phrase 
like you'd cram
        a  model three master 
              in a    beer bottle 

but 
this  beer bottle 
is of such murky glass
only the vaguest 
of outline and mass can be  seen ...

 if u could bash the bottle mac

and 
see whats in there

my guess  
u'd find nothin 
  ok maybe  
     a twisted piece 
 of  the sundays funny pages   --------------

  back to greid
     and on
  to the other hand 


" but right now America actually
needs larger federal deficits 
to get through this storm "

----- 
sly boots here
has  kicked our  impending crisis 
          up a notch 
we're headed into a "   storm "
perfect or otherwise
bad news 
 fer sure fer sure ...
                    -----
  ------- greid makes his choice ----------

 " a government-injected
 economic stimulus 
that will quickly generate
 higher incomes and more jobs "



--------- and here's its 
       dismal science dark side ... ---------

" A bout
of price inflation 
that will disrupt 
    planning and profits
for business and finance "

----- amazing 
the boob thinks 
larger deficits create 
"  price inflation"

"price"
 inflation ..

thats  
as against  
say 
"balloon or tire  or breast " inflation -------



----- 

  first eve intervention:

credit policy 
at least as it seems
 to this particular side walk super

can play a crucial role here
one way or the other 
in what effects  
an increased fed deficit
  produce 


 the fedskins 
in the face of galloping fed gaps
could thighten credit 
and maybe volker spike
the short rates 

   non accomadate 
 
"okay dinks
       how u like that ????"

or they could play nice and  loosen 

but whatever

is it lock step time
do we get 
the bogey man 

"  price inflation ? ?????"

nope 

not as i mentioned earlier
with the global corporate 
hording  rates ???

in fact he's got to know that

so i ask ya 
are 
ya   dickin me  here 
      or what greid ??? 

if not 
how silly a bean you are

how  haplessly 70's ------- 

---- sparing us 
                more bell bottome mind dribble
              he's 
               about to  jump ahead   
but before we move on
 pause to notice again....-------

" A bout
of price inflation 
that will disrupt 
    planning and profits
for business and finance "


-------- "disrupt planning and profits"????

who's planning 
should this read
  merely "disrupt
           profit plans "???--------------- 



" but that---like all else here ----
      is a small matter...."

---he means 
the bug a boo 
of
 inflation
 so the choice really isn't even dismal
whats dismal 
is the bush mill
   choice that will be made
which 
surely won't be greid's 
open uncle's wallet choice -----------

" not compared with the devastation 
a recession would impose
on wage earners and debt-soaked families 
in the bottom
half of the economy "

----- okay so you got a heart
but 
"debt soaked"

hmmmmmn 

very boozlee  splash  houndish  
                  like word choice 

i smell censorious back story here 

  but forget that

 why  are  u  so easily 
 falling back into your bell bottom mind set

with this
pre laffer 
    disco downside 
 inflation /employment
 trade off 
      phillips curve shit

greid  honey
philips even dynamized phillips
has  been on the scrap
 pile for going on  20 years now 

your proposed 
" vigorous spending plan"
 
would  in fact only help relieve   
zast global 
 deflationary pressures 

under present circs 
 
i'd vote for  
this as a win win 

even if i lived in bongo congo 

any 
added  uncle spending
helps
our blessed whole  earth 
by 
avoiding the 70's mirror image

stagnifying 
deflation ..----------

---------------- please stop reading --------------

------ unless your a greenspitzer -----------

------  like a fair ground mistro
speeding up the merry go round
to dangerous velocities 
just as ridership 
is beginning 
to flag badly

greid gets 
his patented 
anti green spam er  
hoolah going -----

"greenspan's  Fed has 
a  single-minded obsession
 with
inflation "

----- true but why ???

say why
not what

its the why 
that needs  the ceaseless reps here 
 your lack of 
specifics on  
motivation

 as in ...
 
who benefits 

as in ...

 why
this is rational

when 
 coming down from 
the board rooms
   of the tall profit towers
 on the corner of
        wall and penn ---------


------ no 
nere's what greid 
 sez its all about 

  its all about 
a more personal back story -----

"  preserve
 Greenspan's reputation
(as inflation  fighter 
 number one) 
as he approaches his retirement "

-----what nutty foolery

but now he's been mentioned twice
let me 
step across  my thread here
 and
  give my main dancin man here
the rogering
   he cries for :


greenspan has no inner being


 he can't have a personal motivation
at least not
while manning 
the credit ship's  bridge 

 greenspuff
on the job  
    is the continuation
 the fucking
  market ticker by other means

a tapewormy   cypher

 sometimes released
 to run around
      outside
   
wsure  he's allowed out 
to  play  now and then
  allowed to act  
          like he's  
       a plate full of 
              bizwiz  fortune cookies  

but back in harness ...


he's 
only a gear 
       in zee profit  giants' tauffle werks

maybe a key and final gear
       but  only a gear 

and as to 
    his fortune cookie messages

decrypted 
all that lizzardized 
         slick four eyed 
                    jew boy  gibberish
 amounts to 
      nothin in the oven

    zero plus zero equals zero
  
          a  raddle not a  riddle 

   no
        his patter is not  so much 
        that of a latter day
                 Sumerian hocus pocus
                   as it is 
               a excessively unctuous 
                           jeeves holding off
                                           the lynch mod  
 
         and
damned 
if 
   some how
by dumb hook 
   or by pure take with 
  
  this gooble dee goooker 
    ends up
    spell binding
 both  press and congress 
  
despite time after time

  a face plain 
      fact trail proving 
         once more 
 'after the   lovin'

    this meat heads double talk
                        cypher 

        has turned 
        out to be 
           99% hair oil
 
                to 1 % mis-applied  science  

  yes  
 
 when you smoke him 
down to roach clip time 
 
he's got only  
      one 
   message 

   " i suck and swallow "

"i suck and swallow "

as in  
           the wally big  boys'
                        gizzz -------

---------------------------------------

------ back to inflation fighting --------

 ------- say green or his successor 
decide to end it all
by 
   spiking fed rates 
well  greid sez
   
        that's ...  .-------

"... the most
wrongheaded and potentially 
most harmful policy" 

------- he's right
        but his why is...
well ... like al falfa's singing
      cute but way off key   ----------

"In the annals of US monetary policy
 a reliable sign 
of
recession ahead 
is the central bank's 
raising interest
rates on short-term borrowing 
higher than 
the rates on longer-term credit"

" The Fed is perilously close 
to
creating that unnatural condition 
known as .."


-----( cue echo again)--------

" THE INVERTED YIELD CURVE   CURVE CURVE CURVE "


 "If Greenspan persists
 with two
or three more rate increases
 the yellow warning light
will be flashing "

------ so we're ALMOST  at 
       a yellow lite 
           almost 
             poised to invert -----------

------- and  fans 
    i be not your dick pullin
         he  or his editor
              leaves us their 
right their 
        teeter totterin pauline style ----------

------- yup
       by  a cross cut
       to the other sub plot                    
                  the Dems -------------

"Democrats, meanwhile,
 are still smitten
 with the Rubinomics 
they learned in the Clinton years"

---------the clueless buggars----------- 

" they yearn to win respectability 
in financial circles 
by
preaching fiscal rectitude"


--------- really ??? 
this confuses party agitprop
with back room door matting

what dem pols say in public 
  is to get elected 

what they promise  in private 
is what gets done 

thats what the donors pay for ...up front

no this tight assed
rubin  rubin shit
  is not aimed at wall street 
 nor even  main street 
its aimed 
at elm  st
where fred six pack dwells at nite 

the war on poverty
may have been 
finaly 
been lost by bill clintox 
ten years ago 
but 
the donkeys
are  
still trying to sell themselves
to average jane and middle joey 
as 
the un deficit party 

to avoid 
the  pop tar 
         brush 
slapped so effectively 
 on em
 by the re-pubz

 using
 the simple
formula
 big  donkey spending  today
means 
bigger  donkey imposed
  little guy 
 taxes tomorrow  

it 's effective because it 's true 
only its bipartisan 
but thats another post eh ??--------------

" Wrong economics 
and bad
politics too"

------ true enough
but who sez dems don't win
where it counts
with their donors

their  like old hams
so we closed out of town 
there's always 
another opening 
and another show ...
that iz 
if we got backers --------


" Repealing the Bush tax cuts 
is a noble
(though unlikely) goal"

------ so klass war donkey style
is futile ???

   this is pure poison 

it isn't about raisin taxes its about lowering em

a little workin mans supply side hoodoo voodoo

don't ever tell me 
this punk wants 
real substantive 
 wage klass progress 
poor relief maybe but...

no fuckin way 

nothing works better
for a demagogue party 
 then 
calling for 
a workin' mans 
        tax cut 

  thats as old a truth as 
american politics has got 
  
"damn the rich man 
and 
     cut my taxes " 

there are 
 work taxes
and there are  profit taxes

this is what i cut 
and
this is what my opponent cuts 
 
        blah blah blah ---------

-------- more  miss priss admonisions ------

 " moving toward a balanced budget is harmful"

 ------------- not as agit prop 
it ain't

shit of course you'll 
balance it  
right out of 
 the rich mans wallet -----------


"The Democrats should concentrate 
instead on how
to spend money--lots of it--
in smart, 
socially useful ways 
that help struggling wage earners"

---- true 
but they gotta get control first 
ass hole 
check out fdr's first run

u gotta lie your way past any angry electorate
after u've proved yourself well then ...
you get fdr in 36 40 44 

but first run out of power run 
make it 
pure jabberwocky 

don't tell em how 

tell em sorta what 

but  most of all who 
 
as in 

"i'm going to give
     u 
  master wage slug 
  the brake

 this time joe
u get the spoils  "--------

------ the rest is scraps
so leave for better groves --------

----- as in this choice phrase ------
 
 "a progressive multiplier"

 ------ nice wonk line 
can't imagine it on talk radio though --------

" With brave exceptions
Democrats
.... think like uptight
bookkeepers "

----- no 
  they only play up tight 
         book keepers
              on television 
back stage
they're
as loose as madonna's 
male back up dancers ----------


"In the basic design of American capitalism
 recessions
always deliver 
the most pain and severest losses 
in
reverse order--punishing the weak and less affluent
first"

--------- more boo hoo 
tuba playing 
please 
who'z this  wet slop
likely  to inform
let alone motivate ------

" Thorstein Veblen called it 
"the slaughter 
of the
innocents," 

"a nasty ritual 
that sacrifices the lambs
for the benefit of the lions"

--------- ya ya ya ya -----------

----- but then this ....---------


" The rest of us may have
to pull back a bit
 but our lives are not greatly
disrupted by recession "

------ ponder that and know why 
 merit  klass types
like don greidez here 
council  
inside the system
   step by suffering step
moderation 

they ain't got their ballz 
             in a vice -------


----- see here in two hops
 he sez more 
then he's willing to act apon -------

hop one 

" If they were asked
 many citizens would perhaps choose
recession as the least-bad risk"

----- right you are bozo --------

hop two 

" The economy is not governed
 with the
bottom half in mind" 

 

------ having written that last bit

 my question

why don't he stop writing then 

   no one "that counts"
gives two shits

  and as for the rest of us....

we don't get it done

system wise 


 it  seems to me
he must  understand 
we otta stop singing 
in the
" ever so holy " choir 

and instead
maybe  start burning 
   a few barns down 
    around here  



  why try to change a settled 
self interested  set of  minds
following their own best interests 

    if your a bottom halfer
    the logic of his argument iz
                attack em 
some how get at em 
 
          don't  
        beg em 

     don't even
         bargain  with em

punch em in the bread basket 

   which in todays driving

translates into 

  massive wave after wave 
of  nasty   job actions

repleat with cops and jail time and such

as in the civil rights movement 

with a little 
storming state houses 
and 
   surrounding congress 
thrown in
for weekend sport  


   bottom half rise up
             and  start swinging
  
back the boss up a few steps 

show you're 
 still in the fight
 
one two 
  one two em 

act 
like any  future  klass champ
                 should   --------