Jim’s Blog

I found the 2005 and 2010 values for nominal gross state product of US states. I looked up Wikipedia for which states were right to work states. Over the five years, right to work states grew ten percent relative to non right to work states (more…)

MF Global did worse than embezzle client funds. They embezzled client funds legally

Very large numbers of investors may be in the same position as MF Global’s investors, who thought they were investing in gold, businesses, and suchlike, but were in fact investing in Greek rioters, Italians on welfare, and public servants taking early retirement.

A woman is being charged with making a false rape accusation!

Gasp!

Are pigs flying? Has the revolution come? Is marriage going to be legally restored?

No. She is charged with making a false rape accusation against a minority. She should have done what everyone else does, make false rape accusations against lower income and/or rural members of the majority ethnic group of males.

Sarbannes-Oxley does to double entry accounting, what the Occupy Movement did to poop control.

Sarbannes-Oxley was correctly predicted to be a gigantic job killer and an obstacle to innovation.  It has also turned out to be a license to steal, as has been demonstrated dramatically in the collapse of MF Global.

You know how the Occupy crowd is calling for personal bailouts and high status government funded virtue jobs.  In Europe, by and large, their equivalents have government funded virtue jobs.  President Obama and company tell each other that this is an investment in our future, and after they say it enough times, they start to believe it.  And so, when MF Global’s clients thought they were investing in gold futures or such,  Jon Corzine (former Democratic party Governor of New Jersey) being wiser than his social inferiors who do not know that investing in gold is politically incorrect and investing in Greek bonds is politically correct, and thus bound to be highly profitable, took their money and invested in loan guarantees to governments without telling them, which were ultimately investments in virtue jobs for the kind of people who at Occupy encampments are apt to poop in grossly inappropriate places, thus ultimately “investments” in people inadequately toilet trained and disinclined to do any real work.

And Jon Corzine’s accountants and auditors, PricewaterhouseCoopers, in accordance with Sarbanes-Oxley, somehow neglected to tell anyone the money had gone. (more…)

We have a bubble in government paper. Assessing the end of the bubble is, like assessing the end of any bubble, hard. (more…)

Gerald Celente purchased six figures worth of gold futures, with the intent of taking physical delivery

He won’t be.

Jim Willie tells us:

The CME has advised that 1.42 million ounces of registered COMEX silver inventory is unavailable for delivery due to MF Global bankruptcy, as well as 16,645 registered ounces of gold also unavailable for delivery.

He tells us that there will be naked shorting of gold, but it seems to me that MF Global was already doing naked shorting. (more…)

This should not be necessary, but I observe right wing blogs blissfully unaware of what has been going on, so, a list: (more…)