The perfect contrary indicator

I heard today that both Larry Kudlow and Helicopter Ben have both guaranteed that we will not have a double dip recession.  That’s the perfect contrary indicator:  we’re going to have a double dip recession.  The economy might as well be on the cover of Sports Illustrated wearing a red sweater before the Masters.

Hey Charlie, it isn’t about you

See article in the BAOJ:  http://www.nytimes.com/2010/06/07/nyregion/07rangel.html.

This is everything that’s wrong with the ratsocrats, and more generally wrong with politics.  Who should represent Rangel’s current district?  The proper answer to that question has NOTHING to do with Chuckie Rangel’s needs.   The mere fact that Rangel gives this as a reason to re-elect him is more than ample reason to disqualify him.

There’s this thing called public service, look into it.

Three banks on Friday

Three banks failed on Friday, June 4, raising the number of banks which have failed so far this year to 81.  That’s an average of .5226 banks per day, down from last week’s cumulative daily YTD rate of .5270.

The rate for 2009 was .38 banks per day. The rate for 2008 was .07 banks per day.

The estimated cost to the DIF of Friday’s failures is $313.6 million, compared to the previous Friday’s cost of $317 million, almost a dead heat.  The cumulative average daily DIF cost YTD is $110 million, down from last week’s $113 million.  So far this year, the estimated total DIF cost is $17.054 billion.

Couldn’t happen to a nicer guy

Enrico has to confess a certain amount, not a huge amount, of schadenfreude upon reading this story about Elon Musk’s financial predicament.

Elon Musk has made a lot, a LOT of money, notably with the sale of PayPal to Ebay, but that was not his only big score, by any means.

Elon Musk is very, very satisfied with himself.  He exudes self satisfaction.  Frankly, he is boastful.  Enrico strongly disapproves of boastfulness.  Enrico thinks the universe disapproves of boastfulness.

But, all that said, Elon Musk has a lot to boast about.  All the more credit to him if he can manage to resist the temptation.