Dodd-Frank. Welfare for big banks

The Dodd-Frank bill, passed in the depths of Great Depression 2.0,  essentially promises US taxpayer support for big US bank, should they screw up and go broke.  It makes a list of "systemically important" banks, adds unwilling banks to the list now and then.  These favored banks are required to file a ton of paperwork, including a financial last will and testament,  supposedly to guide the Feds in a bailout, should they go over the cliff.
  Bad idea all around.  The bank managers are encouraged to make stupid loans, because they know the feds will bail them out should the stupid loans go bad.  The rest of the world is reassured that US banks will live up to their commitments,no matter how stupid, using money from us long suffering taxpayers.
  Better idea.  Use the ancient Sherman Anti Trust act to break up any bank so big as to pose a threat to the financial system should it go broke.  The justice department still has an entire office full of anti-trust lawyers, who haven't done squat in the last 20 years, other than draw their pay.  They ought to be out earning their pay by breaking up banks "too big to fail".   

Budget of only $609 Million.

That's the 2016 budget for the federal Bureau of Labor Statistics.  That's a lot of money.  Figure you can hire a bean counter for $100K, that budget will hire 6000 bean counters.  Erica Groshen, former BLS commissioner, writing an op-ed in today's Wall St Journal, thinks BLS needs more money to fulfill it's duties.
  These duties include publishing the monthly jobs report.  Crucial work that is, especially as ADP, the big payroll agency, publishes it's own jobs report, a week ahead of the BLS report, based on very credible data. Funding for BLS got so tight last year that they dropped the "International Labor Comparisons" program, and the "Mass Layoff Statistics" program.  Awful that is.  Of course I have never heard of either program before, and from the titles I gotta wonder if they were worth a plugged nickel. 
   The most important thing BLS can do, is compute the numbers the same way, every month, every year, so that changes in the number indicates changes in the real economy and not merely changes in book keeping.  Only if you forbid book keeping changes can you tell if things are actually getting better or worse.  Which is why we care about the numbers.
   Today, they ought to get the jobs report out by putting the numbers into an Excel spreadsheet.  Use the same spread sheet every year.  I don't see why we need a staff of 6000 bean counters to get this done.  I'd think 60 would be plenty.
  $609 million isn't "real money" in Everett Dirksen's phrase (A billion here, a billion there, and pretty soon you are talking about real money).  But it is getting close to a billion, when I think it ought to be $6 million.

Farewell Bill O'Reilly

Fox News announced Bill's "retirement" on air last night.   Too bad.  I'm not a super great O'Reilly fan, I watched him when there was nothing better on (often) and I had nothing better to do (not so often).  He had an attitude, and expressed it on the air, frequently.  Mostly his attitude was OK by me, sometimes I found him a bit simplistic and jingoistic, but never as bad as lefties like Rachel Maddow.  Most of the time Bill seemed to have his head screwed on, nose to the front. 
  Tucker Carlson gets O'Reilly's 8 o'clock time slot, "The Five" moves from 5 o'clock to 9 o'clock.  Tucker is pretty good, The Five is merely OK. 
  Message to everyone.  Keep it zipped. 

Dominating the news cycle

Mother of all Bombs soaked up fantastic amounts of TV coverage for days on end.  Some video showing the Mother getting dropped.  Not so much bomb damage assessment (BDA) video.  But as a publicity stunt, this one ranks right up there with things like the Doolittle raid. 
   Not quite sure why it got so much press coverage.  It was 21000 pounds, big, but the British had a 20000 pound bomb (Grand Slam) in service back in WWII.  So a ten ton bomb in 1944, a 10.5 ton bomb in 2017, this is  astounding progress? 
   Lets assume this one bomb hit did our side some good.  But you don't win guerrilla wars with air power.  You gotta sap the guerrilla's morale with effective propaganda, and astute political moves.  And you have to have ground troops to provide security to your civilians and kill the guerillas.  More MOAB strikes might get us more good press, but it isn't gonna win a guerilla war for us. 

Republicans gotta get something done.

First they have to deal with Obamacare.  Nobody has ever figured out just what Obamacare is doing and what it is gonna cost.  The health insurers are dropping Obamacare as fast as the can after loosing barrels of money.  Right now it looks like Obamacare promises taxpayer funded health insurance for everyone who doesn't have health insurance from their employer or is 65 years old and hence eligible for Medicare.  Nobody has ever published an estimate of what Obamacare is gonna cost.  A reasonable guess is it will cost as much as Medicare.  There are more people without employer health insurance than there are people over 65.  Since they are younger than 65 they ought to be in better health.   Any way you slice it, Obamacare is a black hole down which we toss money.  A lot of money.
  To do tax reform, we have to get a handle on Obamacare costs.  Unless we at least know what the taxpayers have to fund, you cannot do any tax cutting.  And every one agrees that taxes are too damn complicated, too damn high,  and too unfair.  If tax reform doesn't happen, there will be a LOT of unhappy campers for the 2018 by election.  Might be enough for the Republicans to loose control of the house or the Senate, or both.
   It's do or die time for the Republicans.  They have to reform Obamacare.  They have to do tax reform.  If they don't,  they are gonna get clobbered in 2018.  

Do I care about President Trump's tax returns?

No.  Those returns are being audited by the IRS.  For us ordinary taxpayers, there is nothing worse than getting audited.  I dare say it causes Trump less pain and he has tax lawyers to handle it.  But still.  And I think they have audited him every year now.  The IRS, whose bureaucrats are all Democrats, who would love to get something, anything, on Trump.  If there is anything bad, flaky, or off color in Trump's 2016 tax return, the IRS will let us know.  Never fear.
  The newsies would love to get a hold of those returns.  There is always plenty of stuff that can be made to look bad, with just a gentle slanting.  Not enough charitable donations, donations to politically incorrect causes, capital losses, too much alimony or not enough alimony.  Lots of stuff. 
   And talking and demonstrating against Trump's tax returns diverts public attention from serious stuff, like Obamacare reform, tax reform, international trade, real stuff, not fake news. 

Dealing with the NORKs.

The NORKs have an army, stronger than what they had for the Korean War.  South Korea's major city and capital is so close to the NORK border as to be withing artillery range.  The place is run by a pudgy dictator who appears to be a crazy man.  They are building nukes and the ballistic missiles to deliver them.  They are so cold stony broke that they are having trouble feeding their people.  They have little to no international trade, travel, or connections. 
   We want them to drop their nuclear program.  They are dead set on getting nukes for the international respect (outright fear) that a nuclear weapons state commands.  Their nuclear facilities are well dispersed and underground, probably proof against airstrikes. 
    We would like the Chinese to cut off their crucial imports of food and fuel to force them to drop the nuclear program.  The Chinese could do this, they are the only source of supply for the NORKs.  Trouble is, the Chinese don't want to squeeze the NORKs that hard, for fear the regime might collapse.  If or when that happens, enormous attractive political forces will try to pull North and South Korea back together.  A lot of South Koreans still have kin in North Korea who they would insist on saving.  If that happens, South Korea, with an economy so advanced it can export automobiles to North America and make state of the art semiconductors, plus an educated population, will run the show, just like West Germany ran the show when East and West Germany reunited.  The result would be a capitalist, successful, pushy, Korea running right up to the Chinese border at the Yalu river.  The Chinese hate this idea.  Especially as the Koreans are so tight with the Americans. I doubt that the Chinese will push the NORKs very hard, certainly not hard enough to gt them out of the nuke business.
  Maybe we could get the Chinese to repatriate North Korean refugees to South Korea instead of handing them back to the tender mercies of Kim whats-his face Number 3.  Give this a few years to work, and the population loss would hurt the NORKs.  
  So what's left?   We could assassinate Kim whats-his-face  Number 3.  He deserves it, and the NORK regime would probably collapse into chaos as the various survivors and number two men struggle to take over.  And it would probably stop the NORKs from shelling Seoul into rubble.   On the other  hand, collapsing the NORK regime is scary all around.
   We could start up the Korean War again.  Nobody likes this idea. For good reasons.
   We could shoot down, or shoot up, any more NORK missile launches.  There is already newsie speculation that we caused yesterday's launch failure by computer hacking or black magic.