Fawlty Understanding

Picture the general public as Manuel, Chris Christie as Basil Fawlty, and Donald Trump as the hotel guest:
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Basil Fawlty tried speaking a language he was ill-equipped to communicate in and wound up embarrassing himself.

So it was when the subject of carried interest came up this week.

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Grading Christie

I see that Chris Christie has a shallow understanding of the public pension crisis in New Jersey as he cherry picks villains and ignores inconvenient facts depending on how it would impact him politically.

I suspect the same on the stances he has taken on other issues as they come up, including the stock market crash/recovery/crash/???? we are in right now. Were his audience not trapped diners tolerating his musings but Nobel Prize winning economists paying attention he might get what he deserves*:
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The closest we can get these days:
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Christie Flops

John Kerry was portrayed as a flip-flopper in 2014:
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But looking at Chris Christie’s latest presidential ad which has nothing to do with what he said would be a centerpiece of his campaign:
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got me to thinking about his stance reversals but, in his case, it was all flops:

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Christie No Stern

Why is Donald Trump packing stadiums while Christie’s people are checking out Denny’s breakfast specials to anticipate the size of his crowds? Maybe it has to do with the Howard Stern effect:
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Chris Christie was on Face the Nation this morning guaranteeing a top-ten placing for the next debate – video link – and giving his entitlement reform spiel – no video link on the CBS website since there was nothing new and people either don’t want to hear it or understand that Christie is getting it wrong.

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Investing In Deadbeats

The main fallacy* of New Jersey Senate president Stephen Sweeney’s federal loan proposal for public pensions is believing that a government in need of cash primarily because of a demonstrated penchant for fiscal incompetence will benefit from an open-ended stream of cash.

As it stands now were New Jersey to get an extra $50 billion to filter through their pension system the political infrastructure in place might even raise pension benefits by 10% again as the the plan would be overfunded to their way of thinking.

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Two More Signs Of the Apocalypse for New Jersey Public Pensions

The two main reasons for the imminent collapse of New Jersey public pensions are the massive benefits promised but unfunded that the state can’t walk away from and the junk that now sits in the pension ‘trust’ made up of all those ‘alternative investments’ acquired for their inflated carrying values.  On Monday Moody’s and the Carlyle Group pulled aside the veil a bit more.

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Christie The Blip

Paul Mulshine was positively giddy about Chris Christie falling out of the top-10 in a new CNN Poll but looking over the numbers shows Christie falling even further than 11th:

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