Art and commentary by Kimberly Harris

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The Annual Greenville Holiday Crafting Workshop Ended Poorly

Three holiday crafters are angry because the glue ran out

The three holiday crafters are arguing to decide who gets the remaining nori paste

The annual Greenville Holiday Crafting Workshop was going quite well until Julia announced there wasn’t enough nori paste to go around. Things went steadily downhill from that point.

President Obama and Krampus Unwind on the Beach in Hawaii

Krampus and President Obama listen to music on the beach in Hawaii

The Krampus and President Obama are on the beach at Hanauma Bay discussing a contract to punish the members of Congress who have been so naughty in the previous year.

December 5 was Krampus Day in a number of European countries with Teutonic roots. As many of you know, the fierce horned Krampus figures prominently in the folklore of Germany and Austria, and also in the traditions of Hungary and the countries of former Yugoslavia. The role of the Krampus is complementary to that of the benevolent bearded old man who distributes presents to nice children far and wide on Christmas. The Krampus rounds up the naughty children that Santa has passed by and proceeds to whip them with a switch of birch branches. Those who have been exceptionally bad are stuffed into a sack and taken to a remote location in the woods to be devoured by the Krampus.

This year saw an unusually large contingent of naughty children who disobeyed their parents, failed to do their household chores, talked back to their elders, refused to eat their vegetables and got into fights at school. Disciplining the lot of them kept the Krampus very busy and by the time all of the punishment had been meted out, the Krampus was exhausted.

President Obama was likewise very tired from fighting with the Republicans over raising taxes for the rich, saving entitlement programs and avoiding the looming fiscal cliff. The president had just wrapped up a brief chat with the Chancellor of Germany, Andrea Merkel, regarding the debt crisis in Southern Europe when the Chancellor suggested that Mr. Obama invite Krampus to visit him in Hawaii so that they could both unwind on the beach together. Krampus immediately sparked to the idea of escaping the cold German winter and promptly booked a Lufthansa flight from Frankfurt to Honolulu.

Soon after arrival the pair proceeded to Hanauma Bay where they were served heady tropical beverages while being entertained by an exotic dance troupe recruited by the Secret Service. When the show was over, President Obama approached Krampus concerning a possible future contract with the US Department of Justice to castigate all those individuals appearing on the list of naughty legislators that the president has been compiling. Mr. Obama emphasized to Krampus that certain members of Congress had been very, very naughty.

Illustration by Kim Harris
Story by Don Rudisuhle

The Debate

A modern interpretation of Eugene Field’s iconic poem “The Duel” about the fateful clash between the Gingham Dog and the Calico Cat who had a terrible spat and ate each other up

Canine Bark Obama prepares to debate feline Kitt Romney

Fierce adversaries Kitt Romney and Bark Obama prepare to confront each other in the first presidential debate on domestic policy

It was high noon in the Colorado mountains high
The fateful hour of debate dreweth nigh
The crowd grew silent anticipating the drama
As fearless Kitt Romney and bold Bark Obama
Side by side at their podiums stood
Praying to avoid gaffes, knock on wood

(“The old Dutch clock and the Chinese plate
Were on site to watch this much-anticipated debate
They two were among the first to see the drama unfold
The Plate winced as Kitt sized up Bark with eyes ice-cold
The Clock shuddered as Bark assessed Kitt with a look most callous
Each candidate was determined to emerge victorious
“No good will come of this,” said the old Dutch clock, looking perturbed
“I foresee a very bad ending,” the Chinese plate all but concurred)

One was a follower of the grey Pachyderm,
Pledged to limit his opponent to a single term
The incumbent was a devoted disciple of the Donkey
Flatly opposed to the vision of that feline Romney

Prominent legislators had coached the two
Briefing them on the issues with much ado
Foreseeing every attack and each defense
And for the practice spared no expense
Senator Portman had stood in for Bark
So Kitt could hone his attacks like a shark
Senator Kerry pretended to be Kitt
Coaching Bark to strike with serious grit

Suddenly the cries from the audience filled the air:
“There’s no difference between this pair”
“All politicians are cut out of the same cheap cloth”
“They should tell us the facts and cut out all the froth”

But a few astute observers were quick to remark
“Look at the cool blue gingham coat sported by Bark”
“And then there’s Kitt’s handsome fur of red calico”
“Either one could be a most formidable foe”

The moderator called the hall to order without delay
“Gentlemen, prepare to confront the issues of the day”
Kitt Romney arched his back in advance of his strike
And with utmost conviction exclaimed into the mike
“Meow, meow, meow!” (“Government has grown far too large!”)
But with ears drawn back and poised to counterattack
Without skipping a beat Bark Obama retorted back
“Arf, arf, arf!!” (“in order to serve us, government needs to be big”)

“So tell us of your achievements, said the moderator”
Accusations and counterclaims swiftly followed from either orator

Bark on the transportation  industry:

“There wasn’t time to design a green aeroplane, so I opted for a fast train”
“I allocated 8 billion for high-speed rail that will grace our nation’s terrain”
“Then I saved the automotive industry from a calamity most feared”
“Graced them with cash with a little help from Ben of the Beard”
“My injection of loot inspired them to create the Chevy Volt”
“A person who would drive any other car is none less than a dolt”

Kitt’s reply:

“You messed with the market and now look at what you have wrought”
“You have spawned a fleet of cars that nobody has bought”
“Volt, Tesla and Leaf all sit in a dealer’s lot as was widely feared”
“In spite of huge rebates, courtesy of your Man with the Beard”
“If that wasn’t enough, you gave half a billion to Fisker-Valmet”
“For an electric sports car to be built in Finland, to our dismay”

++++++++++

Kitt on stimulus

“Your stimulus program had no lasting effects”
“You fleeced the taxpayers with your imprudent projects”
“Solyndra was a dismal failure that squandered half a billion”
“Under your watch the national debt increased by 5 trillion”
“There were no shovel-ready jobs and the money benefited your cronies”
“The country would have done better at the track betting on the ponies”

Bark’s reply:

“I created 4 million jobs by doing things my way”
“$787 million, I mean billion, was a small price to pay”
“The fiscal multiplier is certainly bound to be greater than one”
“In fact GDP is growing so fast that I’m sure I hit a home run”
“There is no need to be concerned about all the spending”
“We are backed by the full faith and credit of Beijing”

++++++++++

Bark on Bain Capital:

“When you were the heartless steward at Bain”
“It is well known that you inflicted considerable pain”
“You and Goldman Sachs cynically used equity extraction”
“To drain the lifeblood from firms for your own gratification”
“You closed factories all the way from Hawaii to Maine”
“And offshored thousands of jobs for your personal gain”

Kitt’s reply:

“You may call me many a name, but a vulture I’m not”
“I saved many a noble brand from ruin or rot”
“If you sleep on a mattress it is most probably a Sealy”
“Your favorite golf clubs came from Sports Authority”
“And that pizza you had for lunch, it’s from Domino’s
“And your laptop was bought at Staples, or was that Joe’s?”

++++++++++

Bark on animal cruelty:

“You strapped your family pet to the top of your sedan”
“You could not find room inside amongst your clan”
“He howled out in terror with the most woeful woof”
“Then poor Seamus panicked and soiled the roof”

Kitt’s reply:

“You shamelessly dined on your faithful four-legged friend”
“In a heartless move that is hard to comprehend”
“You stewed him in sambal sauce and garnished him with greens”
“And then you enjoyed a smoke after they took away his remains”

++++++++++

Suddenly, Bark blurted out:
“I’m not taking any more abuse from you! That’s it!”
“This is the final straw! I’ve had it too!” echoed Kitt

They leapt and charged towards each other with pent-up emotion
Their fangs bared and their claws poised in the angriest fashion
The podiums crashed to the floor with a deafening wham
And the air soon filled with shreds of calico and gingham
It was a truly terrifying sight to behold such a vicious row
The audience rushed to the door with the moderator in tow

Feline Kitt Romney and canine Bark Obama are fighting furiously

After trading insults for most of the debate, a furious fight breaks out between Kitt Romney and Bark Obama

When the janitor arrived late that night
There was little evidence of that epic fight
The dust had settled and the folks were gone
So he stood up the chairs and tidied up until dawn
But as he prepared to go home for some well-earned rest
He was confronted by a crowd of reporters, all well-dressed.

“What became of the debating candidates?” they all asked in chorus.
“We can’t seem to find them anywhere. Do you have a scoop for us?”
The janitor replied politely as he offered them a chair:
“Those quarrelsome two? I have seen neither hide nor hair of that pair”
“But I do know there was a fierce fight in this hall”
“And I did sweep up a tad of fur, as I recall”
“But no siree, I assumed that they both went home to bed”
But the reporters knew better, so the evening news headline read:

“DEBATING CANDIDATES EAT EACH OTHER UP”
Janitor eyewitness states: “There wasn’t a shred of material evidence left!”

(The old Dutch clock and the Chinese plate
Both confirm this was no mere stalemate
Bark ate Kitt and Kitt ate Bark, no question
Tragically ending their ferocious debating session)

+++++++
THE END

Illustration by Kim Harris
Story by Don Rudisuhle

GOP Kielbasa Express Rolls Into Tampa

Romney and Ryan arrive in Tampa in a giant sausage car

As the storm subsides, Mitt Romney, Paul Ryan and Seamus ride their homemade Kielbasa-Mobile into Tampa just in time to gavel open the 2012 Republican Convention

With the annoyance of Hurricane Isaac fading behind them, Republicans from far and wide are converging on Tampa, Florida to rally for their candidates and champion their proposed agenda for the country.

In order to draw attention to President Obama’s divisive policies, party strategists decided to revive the “E Pluribus Unum” motto to underscore the party’s commitment to diversity while at the same bringing all factions of the country together to strive towards a common goal of jobs and prosperity. “Out of many, one?” –Rep. Ryan immediately seized upon the expression clamoring “That’s just how sausage is made!” As an avid hunter and a member of Congress, Rep. Ryan is no stranger to the intricacies of making sausages. In his home state of Wisconsin, his prowess in making kielbasa is undisputed among fellow Cheeseheads.

Furthermore, since Rep. Ryan was once a salesman for Oscar Mayer in Minnesota, he has valuable experience with selling the sausage concept without disclosing too many details as to what went into its making, thus putting him in a strong position to articulate the Republican message on the convention floor.

In a moment of inspiration, Rep. Ryan suggested to his running mate that they rent the Weinermobile to ride into Tampa in a parade that will signal the official beginning of the Republican National Convention. Gov. Romney concurred that the imagery of a giant sausage coursing the streets of Tampa would give the campaign a boost and energize their supporters.

There was a problem, though. Among their many campaign themes was “Build America by buying American” and this gave rise to some concerns regarding potential criticism associated with riding in a vehicle built on an Isuzu chassis manufactured overseas in Japan, Gov. Romney decided against using the official Weinermobile, this in spite of his Rep. Ryan’s proficiency in its operation acquired during his college years.

So, in order to demonstrate their unshakable commitment to financial austerity and responsible spending, the duo agreed to build a custom vehicle using a vintage 1950 Plymouth Special Deluxe 4 Door Sedan that Gov. Romney found in an abandoned barn in western Massachusetts. The two did it all by themselves in their spare time, and without government help.

Seamus reluctantly agreed to accompany his owner on the jaunt in order to refute allegations of abuse and demonstrate for once and for all that he enjoys riding in a kennel on top of a vehicle. This cooperation was predicated on an understanding that he would be rewarded afterwards with one of Rep. Ryan’s tasty homemade kielbasa sausages.

The principle of lower taxes is going to be met with universal acclaim. Nevertheless, the two candidates face numerous daunting obstacles in selling their programs to the electorate, such as widespread public skepticism regarding the viability of devolving Medicaid to the states in the form of block grants that would be conveyed to insolvent spendthrift states like California, Illinois, Michigan, Nevada and New Jersey. What’s more, Rep Ryan’s bold plan for privatizing Medicare has many older Americans wondering if they are going to be on the receiving end of the sausage.

Let the good times roll!

Illustration by Kim Harris
Story by Don Rudisuhle

The Tragedie of Macben and the Bubble Economie

Macben is posing next to his printing press which is churning out new US currency

Macben is saving the economie with his magick prynting presse

Act 4
In an abandoned Metro tunnel deep below the nation’s capital, three witches are conjuring up trouble for Macben. As they parade around a steaming cauldron, the faint rumbling of an Orange Line train can be heard in the distance.

First Witch
Thrice the brittle hedge funds stumbled

Second Witch
Thrice and once the walled street tumbled

Third Witch
Speculators cry “‘Tis time, ’tis time.”

First Witch
Round about the cauldron go;
In the poison’d debt throw:
Freddie Mac and Fannie Mae
A-I-G and B-of-A
Goldman Sachs and rich folks tax
Dash of TARP and spoiled carp
Medicare and Medicaid
Student loans and underwater homes
Securitize and monetize

All
Double, double, toil and trouble;
Economy burn and cauldron bubble.

Second Witch
Pundits mumble, never humble
Irrational exuberance and unwise bets
Greek debt and subprime mortgages
Offshored jobs and moribund industries
Bloated bonuses and insider trading
Bernie Madoff and R. Allen Stanford
Into the cauldron hot and deep

All
Double, double, toil and trouble;
Economy burn and cauldron bubble.

Three witches are stirring a cauldron full of poisonous ingredients

The triple witching hour has arrived and the Weird Sisters are preparing a potion to cast powerful spells upon the economie

Third Witch
Real estate crumble, derivatives fumble
Bankers grumble and Congress bumble
Unemployment riseth and inflation loometh
Administration waverth and GSA partieth
Treasury selleth and China buyeth
Liquidity traps and shadow stats,
Mark-to-market, bondholder haircut
Moody’s, Fitch and S&P
Sovereign downgrades and party of tea
QE1, QE2 and QE3 soon to be
Manipulate and stimulate

All
Double, double, toil and trouble;
Economy burn and cauldron bubble.

Second Witch
Cool it with a failed IPO,
Then the charm is firm and good.

Enter Geitnercate with three witches

Geitnercate
Oh well done! I commend your pains,
And every one shall share i’ th’ capital gains.
And now about the cauldron sing,
Like bulls and bears in a ring,
Enchanting all that you invest in.

Second Witch
By the picking of my stocks
Something wicked this way comes.
Open, locks,
Whoever knocks.

Macben
How now, you secret, black, and midnight hags?
Has the dreaded hour of triple witching at last arrived?
What is ’t you do?

All
A deed that goes by many names.

Macben
I conjure you by that which you profess—
Howe’er you come to know it,
Insider information or salmon coloured journal
Answer me.
Though you untie the currencies and let them fight
Against the banks, though the yeasty valuations
Confound hedge fund managers and day traders alike
Though swaps be lodged and derivatives blown down,
Though investment houses topple on their warders’ heads,
Though online brokerage firms do slope
Their revenues to their foundations, though the treasure
Of the world economy tumble all together,
Even till destruction sicken, answer me
To what I ask you.

First Witch
Speak

Second Witch
Demand

Third Witch
We’ll answer

First Witch
Say, if th’ hadst rather hear it from our mouths,
Or from our masters’.

Macben
Call ’em. Let me see ’em.

First Witch
Pour in the tears of analysts that hath eaten red ink
Add lobbyist’s grease that graced the Congressional palms
Into the flame

All
Come, high or low;
Thyself and office deftly show!

The ghostly disembodied head of John Maynard Keynes
.

A burst of light flashes down the darkened tunnel.
An apparition slowly rises from the steaming cauldron.
It is the ghost of renowned stimulator John Maynard Keynes


.

Macben
Tell me, thou long lamented sage

First Witch
He knows thy thoughts
Hear his speech, but say thou nought.

First Apparition
Macben! Macben! Macben!
Beware McRon, the thane of Paul.
Be seduced not by his gilded standard
Instead manipulate and stimulate
Dismiss me. Enough!

The specter descends back into the cauldron.

Macben
Wherever thou art, for thy good caution, thanks
Thou hast harp’d my fear aright. But one word more—
Will fair Fedres be occupied, audited or perchance abolished?

First Witch
He will not be commanded. Here’s another
More potent than the first

The ghostly disembodied head of Richard Nixon.

.

A thunderclap is heard. A second apparition slowly resolves from the cauldron’s steamy mist. It is the ghost of Richard Nixon, slayer of the gold standard and champion of fiat money.

.

.

Second Apparition
Macben! Macben! Macben!

Macben
Had I three ears and Siri too, I’d hear thee, o tormented spirit.

Second Apparition
Be greedy, bold, and resolute. Laugh to scorn
The allure of gold and its falsehearted charm
For as long as the presses roll
No harm shall visit Macben

Macben
Then preach on. What need I fear of McRon?
But yet I can’t be double sure, so I take my chance
That the fates will prescribe no nomination
And that I may continue to voice pale-hearted lies
And slumber roundly innocent of inflationary dread.

Nixon’s ghost dissolves back into the eerie fog

The ghostly disembodied head of Alan Greenspan

.

.

A lightning bolt flashes. A third apparition rises from the steaming cauldron. It is the doppelgänger of Alan Greenspan, the architect of the great housing bubble

.

Macben
What is this spirit
That rises like the issue of an elder,
Wearing upon his bald-brow creases of wisdom
While pronouncing equivocal fedspeak

Third Apparition
Be lion-mettled, proud, and take no care
Who chafes, who frets, or where investigators skulk.
Fedres shall never ruined be until
Great Bretton Woods to Foggy Bottom
Shall come against Macben.

Macben
That will never be.
Who can impress the forest, bid the tree
Unfix his earthbound root? Sweet bodements! Good!
Inflation dead, to emerge never till the woods
Of Bretton rise, and our high-placed Macben
Shall live the life of leisure, pay his breath
To time and mortal custom. Yet my heart
Throbs to know one thing. Tell me, if your art
Can tell so much: shall Bankwoe’s issue ever
Govern in this land?

The apparition condenses down into the cauldron

The ghosts of Keynes, Nixon and Greenspan appear to Macben

Macben recoils in horror when he is confronted by the ghosts of Keynes, Nixon and Greenspan and hears their dire predictions.

All
Seek to know no more.

Macben
I will be satisfied: deny me this,
And an eternal recession shall fall upon you! Let me know.
Why sinks that cauldron? and what noise is this?

To be continued…

Illustration by Kim Harris
Story by Don Rudisuhle

Who are the bubble blowers?

Three individuals are seen blowing financial bubbles

Who is responsible for blowing the bubbles that are threatening America’s economy?

It seems like every time I pick up a newspaper or read the Internet news, there is a story about a menacing bubble of one sort or another that is threatening the stability of our economy and indeed the entire world order. I decided to do a little research to see if I could characterize each of the more prominent bubbles to gain a better perspective of the dangers that they may or may not pose. In particular, I wanted to understand the processes that were producing the bubbles and explore the dynamics of these phenomena that are putting so many people in peril.

The Stock Market Bubble

The stock market has had its ups and downs over the years but it now appears that there is an evolving disconnect from reality that is preventing investors from acknowledging that things aren’t as good as they used to be. There is still a deep founded belief that somehow today’s situation is different and that stocks will succeed in navigating the stormy times ahead and continue to provide the generous returns of the past. The analysts and financial pundits have said it is so.

Individual and institutional investors have been ignoring some of the more conspicuous risks that could stifle future earnings and ultimately affect valuations. Advocates of investments in securities have been seduced by the alluring earnings records of US corporations in 2011, part of which can be attributed to the extraordinarily low interest rate environment in today’s economy. This could be seen as a repeat of the “irrational exuberance” phenomenon that Fed Chairman Alan Greenspan alluded to in a 1996 speech that caused markets to shudder from Tokyo to Frankfurt. It is hard to see how the trend can continue as deficits are increasingly funded by the prolific creation of money by the Federal Reserve, and which will at some point trigger a bear market in US Treasuries.

Prominent financial commentators suggested the prospect of a Facebook “IPO Halo” whereby a rapidly rising stock price for the social networking company would lift other technology stocks with a rising tide. Reality, however, played out differently. The company’s $100 billion valuation may not have been entirely justified by its recent financial performance. After a week of trading following the IPO, Facebook’s stock was hovering at around 85% of its IPO price of $38. At the same time the NASDAQ roller-coastered a bit but remained unremarkable with a 1.8% gain for the week.

Evidently, George Soros did not see any halo on the technology horizon as it was reported that his hedge fund, Soros Fund Management, recently liquidated its entire position in Google valued at some $168 million and also sold off half of its investment in Apple Computer.

One cannot help but wonder what will be in store for the financial markets. There would appear to be a mounting crisis of confidence on the part of investors, and particularly, the smaller players. For some time now they have been facing higher risks while experiencing meager returns. It’s as if the average person out there has come to believe that the game is rigged, and nowhere is this sentiment more in evidence than in the litigation that has been initiated against Facebook and the Wall Street firms of Goldman Sachs, Morgan Stanley and JP Morgan, the three of which reportedly shared a $100 million fee for their underwriting of the IPO. The litigants are alleging that negative information was concealed from the public prior to the IPO and that this led to losses for them. Adding to the sector’s crisis of confidence, JP Morgan announced less than two weeks ago that it had experienced a $2 billion loss as a consequence of derivative trades that went bad.

It was further reported that investors withdrew $85 billion from their mutual funds in 2011 and have pulled out $6 billion just in the first four months of this year. One cannot help but speculate that this investor retrenchment is driven at least in part by a sense that the little guy cannot win in a system that is permeated with corruption and special interests. Nowadays with Greece circling the drain and the European monetary system facing meltdown, this pessimism is understandable.

The Housing Bubble

There was a time in the not too recent past when housing valuations appreciated so consistently year after year that people began to assume that the trend would continue indefinitely. This gave rise to a subculture of “flippers” who bought houses with little or no money down and then resold them shortly thereafter earning them spectacular profits as due to the high leverage they enjoyed. The phenomenon was driven by a number of factors including low introductory interest rates and a failure on the part of lending institutions to exercise proper due diligence in the vetting of potential borrowers.

Another contributing cause was pressure exerted by Congress on banks to provide financing for affordable housing. The lending institutions were granted guarantees on the mortgages extended to individuals that lacked the financial wherewithal to make good on their commitments, especially in an environment of a declining economy with rising unemployment.

All good things must end sometime and that day occurred in December 2008 following several years of slow decline in the housing market. The subprime loan catastrophe that ensued left a trail of foreclosed and abandoned homes in its wake, bankrupting builders, ruining lives and compromising the solvency of some of the nation’s largest financial institutions. The impact was so great that the federal government was forced to step in with a series of rescue measures to assist foreclosed homeowners and banks that had become insolvent as a result of the large volume of delinquent loans.

The Student Loan Bubble

Earlier this year the rating agency, Standard & Poor’s, warned of the mounting danger posed by a growing student loan bubble. The situation was created by a convergence of factors which include tuition costs rising at twice the rate of inflation, a lack of proper underwriting that allowed young people to assume levels of debt inconsistent with their future earning power, and disregarding a weak job market that has left more than half of this year’s graduates under- or unemployed.

The New York Federal Reserve estimates that as of the third quarter of last year, 27% of all student loans have become delinquent. Incredibly, this level of unsustainable debt now exceeds $1 trillion and has eclipsed the nation’s aggregate credit card debt.

As more student loan defaults occur, there will be far-reaching consequences that will impact the entire market as asset-backed securities are inevitably downgraded by the rating agencies.

In 2005, Congress passed the Bankruptcy Abuse and Consumer Protection Act of 2005 that makes it impossible to discharge student loan debt in bankruptcy. However, this is of little comfort to the creditors who are finding it difficult if not impossible to collect from insolvent students who are living in their parents’ basements with scant prospects of employment.

Since universities depend heavily upon the income derived from repayment of government guaranteed student loans, it is not inconceivable that some ivory towers of knowledge will follow Greece in its death spiral into the abyss of debt.

The Unfunded Liabilities Bubble

There has been much fretting and arguing amongst the presidential candidates regarding the snowballing annual deficits that have spawned the nearly $16 trillion public debt now burdening the United States. However, there has been less attention focused on the much greater danger residing at federal, state and local governments attributable to unfunded and contingent liabilities. At the federal level, these additional obligations of about $46 trillion are largely composed of mandatory payments for entitlement programs such as Social Security, Medicare and Medicaid. Originally conceived as pay-as-you-go programs, evolving demographics and changing economic conditions have resulted in a situation where tax revenues and other sources of government income are going to be woefully inadequate to meet projected cash flow requirements for the future.

Nowhere is this looming crisis more evident than in Berkeley, California where the city has accumulated nearly $330 million in unfunded liabilities of which nearly 2/3 represent defined benefit pension obligations for city workers. Articles in the press have reported that Berkeley’s recently retired city manager will be entitled to an annual pension benefit of some $280,000. Assuming an annual cost-of-living increase of 2% and the current 2% yield on five-year certificates of deposit, the city would have to set aside a fund of approximately $15 million just to provide the cash flow necessary to support this one individual. When one considers that the city of Berkeley has in excess of 100 pensioners receiving at least $100,000 per annum, the unsustainability of the system becomes glaringly evident.

Estimates regarding the total figure of the unfunded liabilities of the United States range from $62 trillion to $144 trillion, a staggering amount in either instance. Depending on which estimate is selected, the amount of unfunded liabilities could exceed $1 million per US citizen, and it is hard to envision how this debt will ever be satisfied.

Am I on target here? Does anyone have any other bubbles you’d like to discuss? Suggest solutions? Please leave a comment.

Illustration by Kim Harris
Story by Don Rudisuhle

Chinese Plate and Tibetan Cat Face-Off

The dragon on a Chinese plate is getting ready to claw a Tibetan Cat

The dragon on the Chinese plate stealthily reaches for the Tibetan Cat with his razor-sharp sharp claws

The Chinese Plate and the Tibetan Cat have yet to settle their differences.

Illustration by Kim Harris

GSA Hot Tub Hijinks in Las Vegas

GSA Hot Tub Hijinks in Las Vegas

Jeffrey Neely, Angry Clown and Gumby enjoy refreshing beverages while relaxing in the hot tub after a hard day of reviewing resorts and sampling gastronomical delicacies.

After a hard day of scouting out resorts and sampling the offerings of Las Vegas’ finest caterers, General Services Administration Western Region Director Jeffrey Neely decided that a bubble bath in his suite at the M Resort in Las Vegas would be in order.

Upon viewing the images in the news media, many have asked the question: Who was the second glass of wine for? Well, not to be selfish, Director Neely decided to share the experience with two colleagues that he had recently identified as prospective performers for the festivities planned in connection with the GSA’s 2010 Western Regions Conference. Mr. Pagliaccio was selected to perform as his character, the cigarette-puffing Angry Clown who continuously creates disharmony in an office environment. Gumby was brought in to reinforce the GSA’s commitment to their “Going Green” campaign. Gumby was also expected to be a guest artist during the Green Man Group’s performance at the conference.

Earlier in the day, the three had sampled the Petite Beef Wellington and Mini Monte Cristo sandwiches that were proposed to be served to the civil servants attending the networking reception. Mr. Neely and Mr. Pagliaccio both ordered a glass of vintage Napa Valley Cabernet from room service. Gumby, who comes from a less privileged background and who arguably has a somewhat unrefined palate, settled for a bottle of Mike’s Hard Lemonade.

The soothing bath and the relaxing drinks prepared the trio for the next challenging event of their rigorous resort scouting trip. They were tasked with awesome responsibility of evaluating the proposed fare that consisted of Boursin Scalloped Potatoes and Barolo Wine Braised Short Ribs that would be featured at the conference’s closing dinner.

There have been recent stories in the media that reveal that Mr. Neely and his wife have enjoyed holidays in Hawaii and other Pacific islands while ostensibly on important official US Government business. Wow! To be able to live as largely as a Federal civil servant!

Illustration by Kim Harris
Story by Don Rudisuhle

You have to drink it to know what’s in it

Nancy Pelosi is enjoying a glass of wine in her vineyard

Is she drinking a fine aristocratic Cabernet or taking a daring ride on the commoner’s Night Train?

Anyone who follows politics knows about Nancy Pelosi, the former Speaker of the House and a leading proponent of the Health Care Reform Bill that was rushed through Congress in 2009 using the controversial reconciliation process. Many are also aware that she has been involved in the wine business in California for many years as the owner of Zinfandel Lane Vineyard, a producer of premium grapes in St. Helena and also as a major investor in the bulk wine producer, Ernest & Julio Gallo.

One evening we caught a glimpse of Rep. Pelosi enjoying a glass amongst the grapevines in her vineyard. We could not help but wonder, is it a glass of Liparita’s prize-winning Cabernet Sauvignon or is it perhaps a snort of Night Train or Thunderbird, two revolting Ernest & Julio Gallo inebriants typically associated with the bottom rungs of the lowest quartile of the Ninety-Nine Percenters?

Nancy just said “You have to drink it to know what’s in it.

Illustration by Kim Harris
Story by Don Rudisuhle

British Badgers Behaving Badly

Bad badgers have been digging up graveyards across England

Two sales representatives from the badger clan await the arrival of their underworld contacts to consummate yet another profitable bone transaction

An article published recently by the BBC in the UK brought to light a shocking discovery at the Radnor Street Cemetery in Swindon, a town about 80 miles west of London in the County of Wiltshire. The soil has been disturbed, grass has been torn up, headstones have been toppled and exposed bones have been found at the site. At first it was thought that this was the work of vandals. However it was soon revealed that badgers have been digging up graves in this cemetery that dates back about 130 years where some 33,000 people have been laid to rest since Victorian times. Now, little by little the old bones are being brought to the surface by a group of enterprising badgers that have built a network of tunnels under the graveyard.

The crafty animals are fond of using existing structures such as roads or foundations of buildings as roofs for their setts, which are networks of underground tunnels that comprise a badger’s den. Therefore it should not come as a surprise that the bottom surface of a casket would serve as an ideal roof for a sett. It follows logically that the industrious badgers would soon discover the contents of the caskets. It is not known what would possess the creatures to remove the bones from their resting place and deposit them on the surface. Maybe they’re simply clearing out the casket to create additional living space for their clan.

At first it appeared that there would be a simple solution to the problem. The badgers could be trapped and removed and taken somewhere else. The parish council proposed that the badgers be relocated to a nearby site where they would be less likely to engage in destructive mischief. However, the conservation group Natural England intervened and blocked this proposal on the grounds that this would constitute a violation of the Protection of Badgers Act of 1992, which prohibits the taking or otherwise injuring of badgers or disturbing a sett. Natural England is an NGO whose conservation mandate is set forth in legislation as the government body responsible for the stewardship of the country’s natural environment. Not long afterwards, another NGO, English Heritage, which is funded by the UK Department for Culture, Media and Sport, also stepped in and took a position against the idea because it is believed that the field selected for the relocation might have at one time been the site of a medieval house. In addition, the entire matter is further complicated by the fact that the cemetery was declared to be a Local Nature Reserve back in 2005.

This is not the first time that this phenomenon has occurred. In 2010, children began to bring home bones they found in a field adjacent to 12th century St. Remigius church in the village of Long Clawson in Leicestershire, a small town about 130 miles north of London that is famous for its award-winning Blue Stilton cheese. Other residents reported seeing a skull and other bones protruding from the earth.

This, too, proved to be the work of badgers. The village vicar, Rev. Simon Shoule performs regular excursions into the graveyard to search for bones which he gathers up and buries in a new grave, which cannot be anywhere near the original site due to government regulations that prohibit disturbing the badgers in any way. This has irritated the families of the deceased to see their loved ones’ remains scattered asunder and buried anonymously at other locations.

But that is not the end of the story.

Little did the villagers know the badgers’ real motivation in digging up the grave sites. It wasn’t to make more room in their burrows. They already had more tunnels and chambers than they needed to accommodate their extended families. The real reason was far more sinister. Some years back, the badgers had made contact with an underground criminal ring that was engaged in the trafficking of illegally obtained human body parts. This ghoulish gang colluded with morticians at funeral homes who would remove bones and other tissues from corpses and surreptitiously replace them with lengths of PVC pipe, leaving the bereaved none the wiser. These bones were subsequently sold to body brokers or biomedical tissue companies who in turn resold them for use as dental implants and other procedures involving unsuspecting patients.

When law enforcement turned up the heat on their illicit business, the gang sought out other sources of bones that were less likely to attract the attention of the authorities. With an average sale valued at over $7,000, it did not take the badgers long to discover what a lucrative business this was. In their pursuit of quick riches, the badgers were not really concerned about the consequences of their actions. They engaged in many financial excesses and bought expensive watches and fashionable suits of clothes to wear when they came to the surface to conduct their nefarious business transactions with the shady bone merchants.

The badgers did not even stop to think seriously about the possibility that the old bones might still contain dangerous bacteria and viruses. It is a well-known fact that many of the individuals interred in the cemetery were victims of anthrax, cholera, tuberculosis and other communicable diseases. These organisms have been shown to survive in the soil for very long periods of time, even centuries.

The badgers didn’t really care about the human public health consequences. After all, they were plenty angry that the UK Department of Agriculture and Rural Development had fingered them as the source of the alarming spread of bovine tuberculosis in the countryside, which resulted in the slaughter of approximately 25,000 cattle in 2010 for the purpose of controlling the epidemic. This pronouncement led to the infamous Big Society Badger Cull, a government sanctioned extermination effort that was responsible for the deaths of untold thousands of innocent badgers. Ironically, subsequent studies by independent scientists demonstrated that this carnage had not made a meaningful contribution to the reducing the spread of bovine TB in cattle.

So, what goes around comes around…

Illustration by Kim Harris
Story by Don Rudisuhle