What I'm Beating TLP With: 7/11/10

Sunday, July 11, 2010 0 Comments

Ask TLP and he'll tell you, he got one hell of a beating a few weeks ago when we dropped off the face of the Earth but now it's all back to business (and "work") so the best he'll get is walloped upside the head with the alternative financial news. Poor thing.

Financial reform is dominating the headlines and we've still got that annoying little Eurozone contagion to contend with but for the most part, the news has been far milder than expected in recent weeks. Unemployment isn't as high as it should be as job seekers drop off by the thousands and, surprise surprise, the consumer is still decoupling from the credit crutch. Is there anything else worth beating this man with or what?

Six Months to Go Until The Largest Tax Hikes in History The Paperboy doesn't get incensed over Obamanomics nor really much at all (I blame the laziness) but since he does actively save his pennies to fund our adventures, perhaps this will get his attention as the Treasury is cutting into our escape money. Snicker. (Americans for Tax Reform)

California's Gestapo-3 I knew the California Franchise Tax Board operated much like mafia thugs employed to break some kneecaps but I had no idea they were so serious about the whole operation. Duck, IA! (Skeptical CPA)

Presenting The Wall Of Worry: The 50 Ugliest Facts About The US eCONomy I am fairly sure that ZH and the Paperboy have more than one opposing viewpoint but that won't stop me from rolling up some ZH goodness and giving TLP a good whack. In this case, I insist you all whack yourselves a little too with this one. (Zero Hedge)

Neverending Jobless Claims "This jobless recovery is like an Allman Brothers guitar jam - it goes on forever and many people need a fannypack full of drugs just to get through it." Such poetry. I cried. (The Reformed Broker)

A Conversation Between MANDELMAN and a Reader About New $1 Billion Fund For Unemployed Homeowners The Paperboy owns and JDA rents but both of us have a job so we should feel comfortable ripping on this idea, as does Martin, albeit in too subtle a way for some of his readers to get it. (Mandelman Matters)

Atonement & Accountability Since I am in San Francisco, I am not allowed a rifle (nor plastic bags nor Styrofoam nor extra hamsters) but if I had one, I would enthusiastically raise mine in honor of this post. "How many King's men and women do you think are actually going to repent and go forth to sin no more, especially when their prior taxpayer-funded sinecures have left them utterly unprepared for gainful employment in a severely-chastened marketplace?" (Western Rifle Shooters Association)

Europe's 91 Potentially Bad Banks Oh shit, I thought we had it bad over here. Thanks to Prudent Investor for being my go-to non-US source for finance news, makes me feel so much better about standing here at Ground Zero waiting for the Big One. (Prudent Investor)

Extending Unemployment Insurance The more I read Bob the more he grows on me. "It’s not just that populist fervor is anti-bailout; it’s also pro-pain and suffering. I submit that the it’s-their-own-fault-so-let-them-suffer-the consequences attitude may be close to fair under normal circumstances, but probably not in the midst of a sever crisis with massive contagion." It appears Bob is also down with the beatings. Approved. (ex Dallas Fedhead Bob McTeer's blog)

Sales tax collection on online purchases: legislation to ease it, lawsuit to stop it The Paperboy and I partake in online shopping because, let's face it, certain purchases are just easier when you don't have to look the clerk in the eye and explain why you're picking up 6 feet of rope and a blindfold. But watch those little tax demons, they're trying to get every penny they can. Kay Bell has an update on the situation. (Don't Mess With Taxes)

PCAOB Report States That There Was a Fair Amount of Failing Going on at Ernst & Young That Paperboy is accounting-adverse but I'm pretty sure he's into the fail so here's some from Uncle Ernie's camp. Shock and awe, surely. And then there's this: "some form of the word “fail” was used 25 times (that includes the footnotes)" (Going Concern)

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.