O-Shit, O-bama

So, the rumor on Bloomberg is that Obama is going to announce 3-years of government budget austerity to lower the deficit. Are you kidding me? How many Americans care about the deficit? There are no jobs, no opportunity, and gas prices are back over $3/gallon.

Oh, and congress is going to cooperate with the President with this? Really. This is the most bold-faced lie I've ever seen. I'll be a monkey's uncle's piece of poo-poo if this bill gets past, doesn't have more holes than Swiss cheese, and actually works.

And Lacker from the Fed is talking to Bloomberg about how the real Fed policy now is not the discount rate, but the rate the Fed pays to banks on reserves. Why does the Fed need to pay on reserves? Because Treasuries pay nothing! Nothing! Nothing!

Which, incidentally, is an0ther thing pissing off anyone trying to save for retirement in a safe and risk-averse manner.