It is extremely interesting that JPMorgan Chase — historically a solid investment bank — makes some dunderhead investments and loses $2 billion, and suddenly it’s getting investigated by the Department of Justice. Meanwhile, the United States Postal Service loses billions every year and nobody bats an eyelash.

As Reuters reports:

The Postal Service said its loss widened to $3.2 billion in the first three months of 2012 and repeated on Thursday its warning that it will likely default on payments to the federal government unless Congress passes legislation offering some relief. …

The agency, which does not receive taxpayer funds and has been losing billions each year as Americans communicate online, said it lost $2.2 billion in the same period in 2011. …

The Postal Service lost $5.1 billion in fiscal year 2011 and was unable to make a massive annual payment for future retiree health benefits, which is required by law. The agency said much of the loss during the second quarter of 2012 came from setting aside funds for the $11.1 billion that is due this year.

So it “does not receive taxpayer funds” but yet it requires “legislation offering some relief.” Am I living in the Twilight Zone? It doesn’t require taxpayer money, but yet it does to the tune of $5.1 billion dollars if it’s going to survive? How does that work? If someone can tell me how this so-called independent agency can simultaneously be independent from and dependent on the federal government for its survival, please let me know. Has the USPS ever turned a profit in the past decade? If the answer is no, then its “independent” status is moot.

As our good friends at The Heritage Foundation note:

While the focus right now centers on the pre-funded pension benefits, the real reason for the USPS’s dire financial straits is the steady decline in mail volume as customers increasingly use electronic communications. Times and technology have changed; the USPS has not.

Regardless, the point is, why is JPMorgan Chase being singled out for bad decisions when the United States Postal Service made 5.1 billion bad decisions in a single year?

The FBI has opened an inquiry into the multibillion-dollar trading losses at JPMorgan Chase, stepping up pressure on the bank after key U.S. agencies said they were looking into high-risk trades that first drew regulators’ attention last month.

Do you know what happens when you stop people from taking risks in a capitalistic economy? Answer: You stop people from being rewarded for those risks. JPMorgan Chase, again, has a good track record of making money for its shareholders. The federal government has a great track record of losing trillions of dollars and then telling you not to worry about it. They do that because the politicians in charge now will be dead or long gone by the time you and your kids get run over by a debt-Zamboni the size of a house.

But you should worry about it, and Exhibit A is Greece. The country is imploding before our very eyes, there’s a run on banks and they have no one to blame but themselves. The difference between Greece and the United States is that no one can bail us out. No one. We’re too big, and if we fall it will be the crash heard ’round the world. And like the Greek tragedy happening overseas, it will be our own fault.

In short, White House Press Secretary Jay Carney inadvertently spelled out the limits of the federal government when he admitted reams upon reams of regulation “can’t prevent bad decisions from being made on Wall Street.” Most Democrats are actually calling for more regulation, which does nothing to fix Carney’s astute observation of the human condition and everything to highlight why liberals are incredibly scary; in their insatiable quest to control the uncontrollable they are willing to use any excuse to consolidate more power. They truly believe that if only they have their hands on more levers of power they’d eventually find the right combination of pulls and pushes and tweaks to get their desired result: total equality.

But human beings are complex. Some are smart. Others are dumb. Some are ambitious, while others are lazy. Most are honest, but many are devious. And so, the liberals’ plans always fail, but instead of ceding power to capitalism — that beautifully imperfect system that sorts through all the madness better than any other that has ever been devised — they double down. Again and again they ask for more power and more money, and every failure of theirs is attributed to a JPMorgan Chase or Bain Capital or Mitt Romney or some boogeyman that can distract from the failures of centralized planners run amok.

Don’t be distracted by their attempts to draw attention from their abysmal performance. Our elected leaders have composed a national disaster to the tune of $16 trillion dollars. They should be the object of our disdain at this time. An investigation of JPMorgan Chase, you say? I can think of 535 other investigations that would be more worth your time, Attorney General Eric Holder. Hint: They’re all local to Washington, DC.

13 comments

    1. Remember when I told you years ago that my blog would continue to thrive while the only thing people would think when they went to the remnants of your weird hate website is “It rubs the lotion on its skin”? Yep. That still stands.

      That you don’t even see how utterly strange your behavior is suggests that you may be in need of professional help. I hope you find what you’re looking for. I really do.

    1. It’s honestly not nice to mess with people who have psychological problems, so I’ll explain this to you one time: Sane people who write and administer blogs often edit their material because they don’t have editors. They update stories when updates become available, they take out typos that they missed when they run across them later, they smooth out rough edges when they see them with a fresh eye. That’s what people who run good blogs do. You wouldn’t know about that because you just have a strange rotting husk of a blog about why I apparently hate America…

      If you think that I traffic your dead blog dedicated to me years after the fact, then I say again: seek help.

      Please, when you’re alone in your bed tonight, take a moment to really think about why you would come to my blog years after the fact when everything I said would happen actually came to pass. I was right, and you were wrong. I was right not because I can actually predict the future, but because I’m able to step outside myself and look at situations objectively.

      I sincerely implore you to let go of whatever bizarre resentment you’re holding in your heart and try bettering yourself. Living in the past like this is not healthy.

  1. So, anyway, I’m back. How do you want to handle this? I’m gonna be critical of you, that should be understood. I’ve gotta confess that I am upset that you were disrespectful of my posts. You should not have lied. Anyway, let me know.

    Smurfalot.

    1. No, you’re not “back.” Not on my blog anyway. You are now banned. Again, please see someone about your mental health. I’m serious.

      Cheers.

    1. Carl, I know this might come as a shocker to you, but I — the sole editor of my blog — edit my own work. 😉 Yes, with well over 900 entries, it may sound strange, but I find random typos weeks, months and even years after I originally post stories. And sometimes, when I go back through them, I edit sentences that seem unclear. Weird, huh?

      Every single week someone will click a post that I randomly forgot about, I’ll check it out for old time’s sake, and find something I’m not satisfied with, a YouTube video that is inactive, etc. But yet, Smurfalot thinks I actually concern myself with the ramblings of defunct hate blog. Classic.

    2. “Carl, I know this might come as a shocker to you, but I — the sole editor of my blog — edit my own work. 😉 Yes, with well over 900 entries, it may sound strange, but I find random typos weeks, months and even years after I originally post stories. And sometimes, when I go back through them, I edit sentences that seem convoluted or unclear. Weird, huh?”

      I am shocked, shocked, I tell you! 😉 I used to do that on my own blog, too. I’d edit typos, remove sentences that were redundant, etc. To me, that’s a hallmark of improving as a writer. Weird how that works. Not that “Smurfalot” would know anything about that; he (or she) was blinded by an irrational hatred of you.

      “But yet, Smurfalot thinks I actually concern myself with the ramblings of defunct hate blog. Classic.”

      Ha. I think his/her time would be better spent getting those several mental issues looked at than running a defunct hate blog that nobody but Smurfalot and maybe a few imaginary friends ever read.

    3. Carl, I have a confession to make. For my Panetta piece today, I already edited it four times. (Gasp!) Yes, that’s right: four. Perhaps I found three sites dedicated to following my every word and then couldn’t get to work today until I made changes. Or, I just made edits like I do to everything I post. 😉

    4. “Carl, I have a confession to make. For my Panetta piece today, I already edited it four times. (Gasp!) Yes, that’s right: four. Perhaps I found three sites dedicated to following my every word and then couldn’t get to work today until I made changes. Or, I just made edits like I do to everything I post. ;)”

      Shocker! 😉 And here I thought you just made edits to appease lunatic trolls who create defunct hate sites about you! 😉

      Seriously, this “Smurfalot” needs to get a life, spend less time on the internet and get some help for his serious issues. There are way too many lunatics like him polluting the internet, and society in general.

    5. After the initial post I was thought, “What is he even talking about? It’s not like I’m preventing him from editing his own blog.” The charge that I, ummm, edit my work would only make sense if he said something in the comments section of my blog that he couldn’t change. If he said something on my blog that demanded a response to the edit — and I didn’t let him do that — then he’d have a case. Anyone who looks at my interactions with Lizard19 can see that I’m more than happy to let my detractors have their say…

      I went back to look at all my edits, and aside from minor things that do not alter the thrust of my argument at all (e.g., changing ‘they’ to ‘the’), I added one small paragraph because a friend of mine at Heritage — one of my favorite former interns — wrote a piece on the U.S. Postal Service. I suppose I can apologize for not announcing to the world who my friends and former coworkers are every time I link to their work… 😉

      Yes, another shocker, I like to give friends exposure on my blog whenever appropriate.

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