Pitchforks and Torches

Wow, did you see the surge in the yield of the 10 year Treasury note yesterday??  It closed about 3.7%.  Traders are calling “bullshit” on the FedGov’s redhot dollar printing press.  You can order the tide to go out all day long.  The tide doesn’t care, the tide is oblivious to your desires.

The ChiComs are worried sick about the brazen devaluation we’re conducting, but they are in a trap of their own making.  If they start dumping the debt, they will set off a landslide, and crush the value of their own position.  If they even pull back in their buying of US debt, they damage the value of their holdings.  As Donald Tramp says, when you owe the bank a million dollars and can’t pay, you have a problem.  When you owe the bank 100 billion dollars and can’t pay, the bank has a problem.

Magic Negro’s brazen theft of GM apparently averted

It appears that the Magic Negro’s attempt to steal General Motors and give it to his UAW friends has been averted.  Don’t exhale just yet, however, the Magic Negro still has the Navy, Army, Air Force, Marines, the Coast Guard, the FBI, the SEC, and the “Justice” Department, and he will have to resist the inevitable entreaties from the ratsocrat mob to just simply take it by force.

The Magic Negro has put awesome pressure on the holders of the senior debt, totalling about $27bn, to accept a LOWER equity stake in the post BK GM than the UAW, despite the fact that the UAW’s claims on the company are smaller than the senior debt, and despite the fact that the claims have the same priority under US Bankruptcy law.  The Magic Negro wanted to give the senior debt holders 10% and the UAW what eventually amounts to 20%.

That’s just theft, plain and simple, backed up by the implicit threat to deprive the senior debt holders of their rights by some kind of illegal presidential action.

The Magic Negro has NO LEGITIMATE ROLE in the bankruptcy proceedings of General Motors, unless he wants the FedGov to write a damn big check to give to the senior debt holders.

Stay tuned, though, sportsfans, because the Magic Negro still has until June 1 to deploy the jackbooted thugs to steal about $13bn from the senior debt holders.

Filibuster Jennifer Granholm, she’s less qualified than Robert Bork

Enrico defies anyone in the universe to advance a rational argument that Jennifer Granholm is more qualified for the SCOTUS than Robert Bork.  Since Robert Bork was rejected by the ratsocrats, and since Robert Bork is more qualified for the court than Jennifer Granholm, simple logic and fairness dictates that Jennifer Granholm must be rejected.  The ratsocrats must produce a candidate who is at least equally qualified for the court as Robert Bork was.

I suggest that Obama should withdraw Jennifer Granholm, and instead, nominate Robert Bork.  That would be just plain, simple fairness.

Obama increases CAFE standards ftw

Enrico applauds Obama for increasing the fedgov’s CAFE standards, governing the average miles per gallon consumed by fleets of cars sold in the US.

This is such a freakin’ OBVIOUS move that it is just criminal it has taken so long to make.  This is the first increase in 32 years, for all love.  Enrico kids you not.

The world totally ABOUNDS with techniques for increasing the fuel economy of internal combustion engines.   And, the world is CRAWLING with well-demonstrated, prototype-ready slight twists on ICEs which are much, much more efficient.   AND (Enrico wishes he had a bigger font), the world is completely infested with radically different personal transportation schemes which are insanely more efficient than ICEs.

So, why, O why, have these highly prolific engineering feats not swept the ICE into the dustbin of history?  Or at least, goosed it up to the point where it doesn’t simply gulp fuel?

Economics, my dear reader, economics.  The auto manufacturers pwn the nickels and dimes of making the ICE.  They make them on a vast scale.  They are insanely cheap to make.  They can’t afford the loss of market share and profits that would arise from introducing costs others don’t have, even if those costs greatly increase fuel efficiency.

One of Enrico’s portfolio companies has a well-demonstrated technology which would increase the fuel efficiency of diesel engines by at least 10%, at a scaled-up cost of approximately $300 incremental per engine.  Enrico thought, when he invested in this company, that his proposition would be a no brainer for engine manufacturers to snap up.  He was sadly naive.

Enrico personally visited Caterpillar, and personally explained the economics and the fuel efficiency savings to very senior, experienced, wise engineers at the company.  The engineers totally agreed with the findings, and actually thought the fuel efficiency results would be even better than Enrico claimed.  But they also demonstrated to Enrico’s complete satisfaction that it was a non-starter in the marketplace.  Too much incremental cost.   $300.

There are probably thousands of stories like this.

The car manufacturers need the assurance that everyone else will be forced to introduce these miniscule additional costs in order to be able to sleep at night.

The only possible criticism of Obama is that he didn’t go far enough.  There’s no reason why cars can’t get 50 mpg on average, even sticking with the ICE.  But Enrico won’t criticize, nope, he sure won’t.

Let’s all decide we’re not going to buy oil from our enemies, ever again.

Obama looks good in flip-flops

The list of Obama’s reversals from postures he struck during the campaign is already long, and is growing daily.  Gitmo, military tribunals, rendition, wiretapping:  this is just a partial list of the residue of Obama’s sojourn in an unfamiliar land, the land of reality.

Enrico applauds Obama for changing his mind when confronted with the facts, but he thinks, in fairness, there ought to be a general recognition that he apparently had a lot of misconceptions about the nature of the world prior to his election.  It stands to reason that we are yet to discover the full scope of his misconceptions.

The co-Prince of Darkness writes a pretty accurate piece today in the WSJ.  He too applauds Obama for recognizing that he got it wrong during the campaign.  Surprising!

Ken Langone bitchslaps Whoremonger Eliot Spitzer

Ken Langone, the founder of Home Depot, is on CNBC right now delivering a richly deserved bitchslapping to the whoremonger Eliot Spitzer.

Spitzer went after Hank Greenberg and Dick Grasso for purely political reasons, because they were big, visible power brokers, and because Eliot Spitzer, who is about as evil a dude as has ever graced a podium, believed that knocking off giants would enhance his career.

One only has to look at where AIG has gone since Hank Greenberg was chased out to see that Hank was doing a magnificent job.   The impoverished shareholders of AIG ought to be allowed to take an ounce of flesh nearest Spitzer’s heart (if he has one).

Dick Grasso did nothing wrong.  He, and the NYSE, won in court.  Apparently, the whoremonger was on CNBC recently to claim that Grasso got off on a technicality.  Really, whoremonger, hows stupid do you think we are?

Ken Langone was on the NYSE’s compensation committee, and he was notably outraged by the whoremonger’s baseless charges.  “Baseless,” that’s how the New York appeals court described the whoremonger’s allegations.

The gall of the man, to show his face in public, to even talk about running for office, is staggering.

Comicle Djuhrnalists strike again

Enrico has been forced to invent a new term for the in-duh-viduals who write for the Houston Comicle:  djuhrnalists.

Those who can, do.  Those who can’t, work for the FedGov.   Those who can’t and can’t even work for the FedGov become Djuhrnalists.

Here’s an article about the senseless killing of a manager of a fast food establishment.  The racial identify of the perp is not a mystery to the authorities, but, somehow, this factoid is missing from the djuhrnalist’s account of the crime.

Stupidity?  Some particularly toxic variety of political correctness?  A random malfunction of the cerebral cortex?