Saturday, March 07, 2015

Going all Munger on your asses!

Thinking about the NSA, and HRC and the Ferguson police department, I was drawn to this quote from John Locke as posted by Ta-Nehisi Coates:

"The injury and the crime is equal, whether committed by the wearer of a crown, or some petty villain. The title of the offender, and the number of his followers, make no difference in the offence, unless it be to aggravate it. The only difference is, great robbers punish little ones, to keep them in their obedience; but the great ones are rewarded with laurels and triumphs, because they are too big for the weak hands of justice in this world, and have the power in their own possession, which should punish offenders. What is my remedy against a robber, that so broke into my house?"

and then to the old Mungerian chestnut from Edmond Burke:

In vain you tell me that Artificial Government is good, but that I fall out only with the Abuse. The Thing! the Thing itself is the Abuse!

Damn Gubmint got me all crabby on a beautiful Saturday morning!

Friday, March 06, 2015

This week's sign of the Apocalypse

People, the deathtrap that is Applebee's somehow continues to evade the law.

Here the poor victim Hiram Jimenez (not making that up), was unsuccessful in his quest for justice after Applebee's vicious fajita platter burned him WHILE HE WAS PRAYING!

(While he totally has a great legal case, I can't help but wonder if perhaps he was beseeching the wrong deity to end up scorched during prayer)

People, the waitress put the fajitas in front of Hiram without advising him that it was hot! So naturally Hiram assumed it was safe and "bowed his head "close to the table,"" perhaps to complain to the Almighty that his fajitas were not hot.

(I think that maybe the Lord answered his prayer and caused the fajitas to ignite?)

I can't decide if the punch line here should be (A) what a horrible miscarriage of justice that this dude can't make bank on Applebee's, or (B) what kind of a schmuck prays for a miracle, gets it, and then sues?

So here are both:

A: People, if crap like this can happen, why do we even have a legal system at all?

B: People, if crap like this can happen, why do we even have miracles at all?

Thursday, March 05, 2015

Wankband (somewhat NSFW)

Pornhub gives back.

The video commercial:  Well done.

Thanks to Tommy the Tenured Brit for sending the link.  I have NO IDEA how he found it.

Blog it out, bros

So Eduardo Porter wrote this, where he lets John Bogle apparently say that passive investing could fix "the greater part" of America's retirement savings "shortage".

Then two of my internet buds, Noah Smith and Ryan Decker threw down.

Here's Ryan.

Here's Noah.

Now if people are approaching retirement with $104,000 and we decide that they need $500,000 or more, then clearly active investing fees are not "the greater part" of the problem. I gotta give that one to Ryan.

But, just because people do things that we think are a problem, doesn't mean it's actually a problem or crisis. Maybe people want to enjoy stuff while they are young and are willing to deal with a lower standard of living when old. I gotta give that one to Noah.

All that said, in general and on average over the long run, people are going to be notably richer from going with the low fee, buy and hold, passive investing approach. Even though his quotes in the Porter piece were messed up, I gotta give that one to Bogle.

Tuesday, March 03, 2015

Can't anybody here play this game? Federal Reserve Edition

So Gentle Ben Bernanke opposes Congress mandating that the Fed follow a policy rule because "

“The Fed already has a rule,” Mr. Bernanke said during a panel discussion at the Brookings Institution’s Hutchins Center on Fiscal and Monetary Policy. “It’s committed to hitting a 2% inflation target and aiming for the natural rate of unemployment. These are rules.”

Phone call for Ben Bernanke!! BB phone home!!

People, the Bernank has more Fedsplainin' to do. Look at this picture:

The article the graph came from was headlined "US Inflation undershoots Fed's 2% Target for 33rd straight month".

Maybe we should audit the Fed!!