RANT: A failure of leadership — O on GM!

Monday, March 30, 2009

from The Wall Street Journal

*** begin quote ***

President Barack Obama blamed leadership failures in Washington, D.C., and Detroit as a key factor in the auto industry’s decline, as he called on General Motors and Chrysler to come up with better restructuring plans.

In prepared remarks Monday, Obama said, “The pain being felt in places that rely on our auto industry is not the fault of our workers… And it is not the fault of all the families and communities that supported manufacturing plants throughout the generations… Rather, it is a failure of leadership.”

The remarks came as Obama moved to impose hard-nosed, sweeping restructuring measures on GM and Chrysler, including the ouster of GM’s Wagoner.

*** end quote ***

So the money that was put into GM for the American Taxpayer went down a rathole.

And, Obama is going to run GM?

Levine on ABC has a great rant I’m going to try and find it.

Isn’t anyone upset that Obama is now running GM? Doesn’t it remind anyone of Hitler’s fascism? And, what bout the budget and spending. You youngsters are being robbed blind. And, who do they think is going to buy all this debt? It’s trillions and trillions of dollars. We’ll be in debt forever!

# # # # #


GOVEROTRAGEOUS: Why won’t the FED tell us? They don’t have to. It’s a private club!

Tuesday, March 17, 2009

http://www.lewrockwell.com/cummings/cummings60.html

Where Did the Money Go?
by Richard Cummings

*** begin quote ***

Fed Chairman Ben Bernanke has resisted calls from Congress that he release the names of the banks that were recipients of the bailout money the Fed gave to AIG to prevent it from collapsing. AIG insured its counterparties against losses from mortgage-backed derivatives. The Fed poured $85 billion into AIG, which paid out $37.3 billion of that money to counterparties that had purchased a certain type of derivative-based protection from AIG, called multi-sector credit default swaps.

*** end quote ***

Seems like a fair question.

So what rathole DID our money go down?

And, what rat got fat on it!

# # # # #


MONEY: Where are we going to be in 20 years?

Monday, March 16, 2009

http://insidecatholic.com/Joomla/index.php?option=com_content&task=view&id=5565&Itemid=48

The Money Meltdown: A Conversation with Thomas Woods Jr. by Brian Saint-Paul 3/11/09

*** begin quote ***  

Q: We’ve had bailouts and stimulus packages, and possibly more of both in the near future. If you were to look into a crystal ball, where are we going to be in 20 years? Where is all of this heading? Will we reach a point of total economic collapse? Or will we wind up as the newest Euro-style state?

It seems to me that the best-case scenario is a kind of European third-way stagnation: high unemployment, anemic growth (if any), and a whole bunch of people scratching their heads and wondering why this is happening. That could be our fate.

Of course, it could be worse. It may turn into something like what Japan endured in the 1990s and beyond — though at least Japan had some domestic savings as a cushion. Or there could well be a complete collapse of the system, with the dollar destroyed. This is all conditional, because it depends in large part on what the government does. Its cure is almost sure to be worse than the disease.

I’d love to think that if a collapse came, people would say, “Obviously, intervention doesn’t work, so let’s try what the Austrians have been suggesting.” But I think instead a demagogue would rise up to say — as usual — that the problem is not enough government involvement, and that he’s going to rescue us.

That’s the most likely outcome.

*** and ***

Thomas E. Woods Jr. is senior fellow in American history at the Ludwig von Mises Institute. He is the author of nine books, including two New York Times bestsellers: The Politically Incorrect Guide to American History and the just-released Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse, as well as the award-winning The Church and the Market: A Catholic Defense of the Free Economy. Visit his new Web site.

* end quote *


GOVEROTRAGEOUS: Rep. Barney Frank has chutzpah!

Monday, March 16, 2009

http://finance.yahoo.com/news/Frank-assails-bonuses-paid-to-apf-14646988.html  

Frank assails bonuses paid to executives at AIG
House committee chairman rails against bonuses paid executives of financially-strapped AIG
Monday March 16, 2009, 8:24 am EDT

*** begin quote ***

WASHINGTON (AP) — Rep. Barney Frank charged Monday that a decision by financially strapped insurance giant AIG to pay millions in executive bonuses amounts to “rewarding incompetence.”

*** end quote ***

He should know incompetence. He’s part of the Fannie and Freddie mess. His hands aren’t clean by any means.

Aint congresscritters funny? If they were so dangerous to our liberties!

# # # # #


INTERESTING: The time-honored and unchanging free-market principles needed

Sunday, March 15, 2009

http://corner.nationalreview.com/post/?q=YTkzMzllNmE3MDM3NDhmMjcxZjA5MTE0OTk5NDJkODQ=

NRO BLOG ROW – THE CORNER – Wednesday, March 11, 2009

*** begin quote ***

Accordingly, conservatism will return to prominence when it uses time-honored and unchanging free-market principles to address new problems, and when it finds advocates who both are adept at communication with non-traditional audiences (e.g., why it is in the interest of African-Americans to be skeptical of abortion on demand, why Hispanic small-business people need to be wary of intrusive regulations, why Asian-Americans should fear affirmative-action-driven de facto racial quotas at the University of California, why talented teachers should not have to join bureaucratic, ossified unions, why today’s young people should not have to pay off Obama’s annual $1.7 trillion deficits, etc.) and believe in their message’s resonance, without trimming[?] for the applause of the moment.

*** end quote ***

As “conservatism” seeks to return us to the “classical liberalism” of the First American Revolution, a little L libertarian like myself can agree that it’s a good first step.

Unfortunately, for as smart as I feel the DOWGs were, and they were far smarter than I, and more courageous as well, I don’t think we can rewind the clock.

We have to take those “classically liberal” principles and move forward applying them to today’s problems.

Just as the King was rightly opposed as tyrannical, so to must we oppose the new “king” — the overpower all-encompassing gooferment.

Empowering the individual to make their own choices and bear the consequences of bad choices.

So, we have to have miniscule government. Close to the people. With it’s only mission being to protect the rights of individuals.

Argh!

# # # # #


MONEY: FDIC is not really insuring banks

Thursday, March 5, 2009

http://www.lewrockwell.com/blog/lewrw/archives/025671.html

March 04, 2009
Re: Bair (or Is That Bare?) Says FDIC Going Broke
Posted by Kathryn Muratore at March 4, 2009 05:11 PM

*** begin quote ***

Lew, the counter-intuitive response of government-sponsored bureaucracies like the FDIC make me laugh. So we already know that the FDIC is not really insuring banks in any meaningful sense, although they keep that “Insurance” word in the title. But, imagine what an actual above-board insurance company would do in an emergency – say a hurricane hitting a populated area. In the days before and after the hurricane, can you imagine State Farm sending a bill to all of its customers in the Southeast for an emergency premium hike to cover the payouts that it knows are imminent?

*** end quote ***

Yeah, like Social Security Insurance, which isn’t “insurance” either.

When this musical chairs game stops, who will be left standing?

Taxpayers, the old, those on fixed income.

# # # # #


POLITICIAL: Ron Paul on Bill Mahr simple and direct!

Saturday, February 21, 2009

http://www.youtube.com/watch?v=M5lb0l3sYBo&eurl=http://www.lewrockwell.com/blog/lewrw/archives/025457.html&feature=player_embedded

Ron Paul rocks on Bill Mahr’s show!

# # # # #


Follow

Get every new post delivered to your Inbox.

Join 1,050 other followers

%d bloggers like this: