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Wile E. Coyote Playbook

November 22nd, 2010 No comments

link Enhanced pat-downs necessary for now, TSA chief says – CNN.com.

Neccessary? As if.  It’s as clear an admission of institutionalized idiocy as anything uttered since someone insisted icebergs were disappearing.   On the latter issue, at least those words were famously offered by a particular politician, so we all knew it was unvarnished poop despite the massive worldwide propaganda campaign.  (Incidentally we probably won’t hear much about global warming for a few months because all of the concerned protestors are off skiing at Val D’Isere enjoying the record snowfall)   In this particular case, the decree has come from the TSA,  a Frankenstein government agency that has morphed from defending the public to one that itself is terrorizing the public.  Another descent into a real life George Orwell novel.

Since this is an agency policy, political parties on both sides are reluctant to reign them in since woe be to the party that publicly opposes the TSA should any grief happen.  That party will be painted as being responsible for any ill fate that may befall anyone and all of a sudden, it’s a partisan issue. By now, numerous stories have exploded into the public space about the Mexican prison style searches now being administered by the TSA in under the cover of security.  People can search and read for themselves about the outrageous and invasive manner in which the public’s collective safety is being protected and make up their own minds.  Suffice to say, as someone commented, on a date it would be called second base. 

The alarming fact that no one seems to be willing to reign in the tactics and deeds of this domestic terror organization should disturb everyone.  There should be a bi-partisan push to bring back into line an agency which seems to be responsible to no one.  At the moment, the decrees of an unelected bureaucrat, John Pistole are carried out without pushback except for the vocal protests of Ron Paul, a Texas congressman.  We know for an absolute certainty that there are numerous other effective and more importantly, intelligent ways to truly shield air passengers from harm.  As most know, the Israelis are very adept at assessing risk by individual interviews and evaluating traveller profiles.  Of course the politically misguided fear of being labelled profilers trumps any concession to common sense in employing these same techniques over here.  Consequently, we are more willing to infringe upon the privacy of the innocent public as well as physically assault them rather than risk the scarlet letter of profiling. 

Certainly, the job of security could me made so much easier if all the terrorists had a consistent, identifiable profile.  If only they were all the same race, age and sex and whose flights originated from the middle east or North Africa.  If only they had the same religious affiliation and haircut.  If only this small group stood out conspicuously from the rest of the population.  If only there wasn’t a history of Grandmothers, children, goofy teenagers and frequent business travellers who consistently pose dangerous risks.  Yes, it’s too bad that the methods employed now are the ‘best techniques’ we have today to blunt attempted attacks. Playing real life whack-a-mole with obviously benign travellers is the best way to stop would-be terrorists.  And finally, it’s a good thing these tactics have captured every attempt in the past.  These are the brilliant techniques used today by an agency using tens of billions of dollars.  This apparently represents the acme of American ingenuity and intelligence. 

If this were all about safety and not about politically correct security Kabuki, it would make far more sense for ALL air travellers to be medicated with rophynol before all flights and then loaded like baggage  onto storage racks aboard the aircraft.  That way, all checks can be avoided, aircraft can carry many more passengers and they wouldn’t even need airline stewards.  You wouldn’t even need airlines, just FedEx or UPS.  How is this much more grotesque than the stupidity being imposed on people today?  You just can’t help but think that we have the genius of Wile E. Coyote running the TSA.  Like him, billions of dollars are spent to create elaborate contraptions to do something very simple.  He never catches the frickin bird.

I’ll Gladly Pay You Tuesday

November 17th, 2010 No comments

link California to launch $14 billion in debt sales | Money & Company | Los Angeles Times.

This is either naivete, arrogance or a tragic combination of both.  The citizens just recently elected representatives who have a history of inadequate fiscal management skills and California is bleeding financial ink badly.   Now, the state is in the throes of offering $14 billion dollars of  term debt to investors for the princely rate of between 1 and 1.5%.  Amusingly this debt is coined as RAN’s, or Revenue Anticipation Notes.  What this means is that money will be paid to investors at the aforementioned princely rate, out of tax revenues anticipated to arrive later in the fiscal year.  So this is merely a stopgap funding mechanism.  It’s the new take on the old character Wimpy of the Popeye cartoons.  “I’ll gladly pay you Tuesday for a hamburger today”.

“…The state’s chief fiscal analyst on Wednesday estimated that Sacramento will have to plug a total of $25.4 billion in deficits by mid-2012.  That may make some bond investors nervous, but many have gotten used to scary fiscal headlines about California for the last decade…”

Many have gotten used to the scary fiscal headlines.  Hmm.  That may have been before the taxpaying corporations which tolerated the State’s policy regime decided to gradually move out of state.   As much as the Apple Computer company may be regarded as the iconic California/Silicon valley company, it’s likely many of it’s business segments are rooted out of state, including manufacturing of their products.  Even the great James Cameron shoots most of his big budget flicks elsewhere in the world than California. 

http://articles.ocregister.com/2010-02-24/economy/24548737_1_companies-red-teams-list-names

In addition, while still very small, this article documents individuals that are also moving out of the once prosperous state for greener pastures elsewhere.   http://articles.latimes.com/2008/dec/18/business/fi-leaving-california18

That’s not to say people don’t want to live there.  It’s hard to take away the magnificence of the state’s natural endowments.   Californy is the place you ought to be according to migrants from Mexico.  Recently, it was revealed that Spanish was the predominant first language of public schoolers in that State.  If a group such as the legendary Beach Boys were formed today, they’d have be named The Gringo Boys.   That’s all wonderful since one day this will be a powerful workforce.  But in the meantime, support services for this community, many of whom are illegal, will be sorely strained as revenues cannot meet the outgo demand.  It’s possible therefore that bond or noteholders may have to stand in line if the expected taxes don’t cover the debt obligations.

Not that there’s a risk of losing money.  As is law, bondholders MUST be repaid.  But it begs the question, why would you invest for example $100,000 of cash to hopefully get $1000, or $1500 back in a year?  You’d be almost as wise to stick the money under a mattress.  If they don’t pay you back on time, you have to stand in line until such time when they have the funds to do so.  Meanwhile, you’re out $100,000.  You’d be better off buying fancy art.