US Repeals Laws of Mathematics

mathematics.jpg

“And so this proves that, for purposes of the U.S. economy, one plus one no longer equals two, but a seasonally adjusted, annualized integer to be announced and subsequently revised.” (Photo by Ed Brambley/Flickr)

It’s official: As we do not believe in climate change, because to do so would expose us to unacceptably harsh expectations, so we have ceased to believe in arithmetic, for the same reason. This mindset (can we call it that, since the “mind” part seems to be absent?), once the province of right wingnuts, has been adopted by the government of the United States so that, unfettered by the iron logic of numbers and their former, simplistic relationships (you know, addition, subtraction, that sort of thing), the government can proclaim its own brand of creationism — job creation, wealth creation, money creation and above all creation of the myth of the robust and immortal recovery. Continue reading

California Crisping: But Business as Usual

California-drought-Laguna.jpg

The Lake formerly known as Laguna, now in the Great California Desert, where a new — and very short — era of lawn watering, car washing and almond growing has just begun. (Photo by docentjoyce/Flickr)

In the face of a drought whose implications have moved from awesome to cataclysmic, California Governor Jerry Brown has proclaimed a “new era” of water conservation in his afflicted state, an era in which, he said, ‘The idea of your nice little green grass getting lots of water every day, that’s going to be a thing of the past.” He proclaimed a Draconian cut of 25% (wait — a quarter? That’s all?) in the use of water for watering lawns and washing cars (wait — they’re still watering lawns and washing cars?). If all the myriad water boards and commissions ever figure out how to implement and enforce these limitations, and they work as intended, they will cut 25% of 20% of the state’s water usage. The 80% that agriculture uses was not included.

Continue reading

The Crash of 2015: Reckoning Day

You have a perfect plan. Then things begin to go south and before you know it, a day of reckoning. (Photo by motorkid.com/google images)

You have a perfect plan. Then things begin to go south and before you know it, a day of reckoning. (Photo by motorkid.com/google images)

 

The next phase of the Crash of 2015 begins today. The first quarter of the year is now complete, and that means two things for the debt-logged companies trying to stay alive in the U.S. oil fracking patch: it’s time to report the value of their assets to the issuers of their lines of credit; and it’s time to repay or roll over a bunch of the debt with which they are logged.

That first one is the killer. These companies, virtually every one of which has had negative cash flow from the beginning of the so-called “oil revolution, have sustained themselves first with stock issues, then with junk-bond issues, then with subprime loans. As slack as the underwriting of those loans has been, they do actually require the existence of assets whose value at least approaches the amount of the loan. Continue reading

The Theory of Everything Stupid

To be a success in today’s America, it helps to either dumb or dumber. Why is that? (Photo by insomniacuredhere/Flickr)

To be a success in today’s America, it helps to either dumb or dumber. Why is that?
(Photo by insomniacuredhere/Flickr)

Let me be clear: the headline of this piece is to be read, “The theory of everything (that is) stupid,” NOT “The theory of everything, comma, stupid.” It’s my intention to insult a lot of people here, but if you are reading this without benefit of a forefinger, not you.

America is subsiding into a new Dark Age. Its leaders are more ignorant every day, its authorities more brutal, its people more supine. To remain ignorant when the availability of information is greater than it has ever been in human history, to govern viciously and intrusively when the government is more powerful and the governed more subservient, than ever, defies comprehension. Until we formulate a theory of everything stupid. Continue reading

Old King Coal Stricken; Prognosis Grave

A coal train once supplied the city of Holland, Michigan with fuel for its electric generating plant. They converted the plant to natural gas. Their costs are down, their emissions are down, and coal is down for the count.  (Photo by wsilver/Flickr)

A coal train once supplied the city of Holland, Michigan with fuel for its electric generating plant. They converted the plant to natural gas. Their costs are down, their emissions are down, and coal is down for the count. (Photo by wsilver/Flickr)

After bestriding the mountains of Appalachia, among many other places, like the proverbial Colossus for a century and more, the U.S. coal industry has been taken to hospice, a pathetic wasted shadow of its former self, its physical condition terminal, its thought processes derailed by dementia. It’s not a pretty sight (except perhaps to the survivors of the ruin, destruction and death it has brought to thousands upon thousands of helpless people) and there are those who say its fate foreshadows that of the oil fracking  industry, which is now in the ICU, and the legacy oil bidness, which has started to have dizzy spells and occasional sudden hemorrhaging. Continue reading

First They Came for the Sardines…

The fish held a meeting, and decided to spread the alarm, but it was too late. They were all dead. (Photo by James Palinsad/Flickr)

The fish held a meeting, and decided to spread the alarm, but it was too late. They were all dead. (Photo by James Palinsad/Flickr)

You see the stories here and there, usually in local West Coast papers and on specialized websites. One has a gross picture of a dissolving starfish, another a heart-tugger of a starving sea lion pup. Then there are the stories that have no pictures  because they are about something that isn’t there, such as sardines and krill. Or something that is happening but cannot be watched, like the slow impassive death of oyster beds. It takes a while for it to begin to dawn on you: Holy Crap! Everything on our Pacific Ocean coast seems to be dying! Continue reading

The Glad News Bears

The Glad News Bears are cute and entertaining, but should not be mistaken for financial advisers or life coaches. (Painting by Frederick Stuart Church [Public domain], via Wikimedia Commons)

The Glad News Bears are cute and entertaining, but should not be mistaken for financial advisers or life coaches. (Painting by Frederick Stuart Church [Public domain], via Wikimedia Commons)

This week, the U.S. Energy Information Agency forecast that oil production in the country’s two largest fracking patches — Bakken in North Dakota and Eagle Ford in Texas — will actually decline this month. To those who have been watching the agony of the oil patch with clear eyes, this had all the shock value of a soaked weather forecaster, standing in a downpour, predicting rain. But it had no effect at all on the Glad News Bears, the relentless chanters of “Don’t Worry, Be Happy,” and “Ain’t Gonna Rain No More, No More.” Continue reading

47 Felons in the US Senate

Benedict Arnold

Stop the presses! We have 47 names to add.

When 47 United States Senators sent a letter to the government of Iran, presuming to explain our Constitution (which, the Iranian Foreign Minister immediately observed, they do not seem to understand) and demonstrating profound ignorance of international law, they did not merely embarrass themselves and our country, they broke the law. Their purpose was to prevent the Obama administration from reaching an agreement with Iran to prevent that country from manufacturing nuclear weapons (something the country has always professed it does not want to do anyway).

These Senators presumed to tell the leaders of Iran that should they reach agreement with the United States negotiators, who for years have been trying to find a way to limit Iran’s nuclear energy program to prevent weaponization, any such agreement would probably not be honored by the Congress or the next administration. Since no such agreement exists yet, they made this threat without knowing what would be in it. Doesn’t matter; if Obama did it, it’s evil. Continue reading

The Crash of 2015: The End of the Beginning

Coming soon to an economy near you: a two-train wreck.

Coming soon to an economy near you: a two-train wreck.

The setup continues of the double train wreck that will decimate the U.S. economy this year; the switches have been thrown to prevent either train from leaving the track, and the engines are accelerating. It doesn’t take much perspective, now, to see both trains, closing fast.

[Note: The Crash of 2015 is not expected to be the collapse of the global industrial economy, which will take a little longer.  Just another lurch downward of the shattered Titanic, further unsettling those passengers who do not believe in icebergs.] Continue reading

Holding Accountants Accountable

If I had known that was the name of my accountant's firm, I don't think I would have turned over my life's savings....  (Photo by Indi Samarajia/Flickr)

If I had known that was the name of my accountant’s firm, I don’t think I would have turned over my life’s savings…. (Photo by Indi Samarajia/Flickr)

It’s on account of accountants that we can’t count anymore, and someone should hold them accountable. We call them bean counters not to disparage them — honestly, I mean no disrespect — but to remind us and them of their purpose: to tell us how many beans are in the jar. When instead they tell us how many beans were in the jar last year; or how many beans would be in the jar if we had only put more in; or exactly how many beans are in a jar we don’t have and can’t get, they are not just failing to do their job, they are doing a great deal of harm to the people and companies and system they serve. Continue reading