Friday beaver MIA

 Sorry the beaver is missing in action today busy picking out a mate or something.

Always try to keep up on things. Aside from the overload of Boston news a few other things transpired while no one was looking. After all what perfect cover to stick it to the people then when they're too busy focused on other things. The thought did cross my mind that I was watching something akin to a modern day gladiator match where the hunted gets a brief head start before the kill. I hope you can see the comparison.

But I digress, this is about the skullduggery not on the streets but in the heart of the nations capital. You may recall the 60 Minutes piece back in 2011 when the old boys of the show pointed out that congress didn't have to follow the same insider trading laws as the rest of us. Congress was quick to pass a law preventing that but just thursday congress passed in the late of night a bill that says basically that  transparency is optional. All done in the name of national security (like the security of their bank accounts). No body even had the time to read the bill (a requirement passed by republicans long ago) but hey which one of them reads anything more than a Gulf Digest these days or maybe it's Travel Magazine. Gee and they wonder why nobody trusts them.

But this post was to be about the economy. While the Wall Street boys continue their poker game (I guess they sold enough hedges to cover the market drop), Main Street continues it's slid with near empty stores, more foreclosures and oh yes a little fact that gets buried on the back pages. Walmart worker are so poor now that they can't even shop where they work. (How's that business model working out for you Sam?). But it doesn't take a financial whiz to figure out that austerity isn't going to make things better. At least not for us underlings. They squawk about the debt that they created and expect to drain our bank accounts to pay for it. Sorry pal I'm not buying it. Their latest is that a 90% debt to GDP ratio is some magic tipping point. Which might be true is you're trying to pay off a mortgage in 10 years but this is a long term issue. Stretch that out to 30 years and see how the numbers stack up. And while you're at it throw in some spending to actually get things moving. Taxpayers with no jobs aren't going to make for the magic bullet to fix this.

Bank fails later as usual.
UPDATE: Three banks failed this week 2 in FL and 1 in KY and I'm not talking about the jelly. That brings the grand total to well over 400 since this started but who's counting?