Monday, August 9, 2010

Successful Bailout? by Don Boudreaux on August 2, 2010

*** begin quote ***

Second – and more importantly – the chief economic case against the bailout was not that huge infusions of taxpayer funds and special exemptions from bankruptcy rules could not make G.M. and Chrysler profitable. Of course they could. Instead, the heart of the case against the bailout is that it saps the life-blood of entrepreneurial capitalism. The bailout reinforces the debilitating precedent of protecting firms deemed ‘too big to fail.’ Capital and other resources are thus kept glued by politics to familiar lines of production, thus impeding entrepreneurial initiative that would have otherwise redeployed these resources into newer, more-dynamic, and more productive industries.

*** end quote ***

“The broken window fallacy”
— Frédéric Bastiat Ce qu’on voit et ce qu’on ne voit pas (That Which Is Seen and That Which Is Unseen) 1850

I know for certain that the 5k$ that Obama robbed from my wife’s IRA could have been used to do something she wanted to do. Even if the bankruptcy only gave her a dollar, it was still HER dollar; not his!

Seizure by the Gooferment. Worked for FDR; worked for Obama. I won’t forget it either.

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RANT: Gooferment claims ownership of rain

Wednesday, August 4, 2010

Collecting Rainwater Now Illegal in Many States as Big Government Claims Ownership Over Our Water
by Mike Adams

*** begin quote ***

Salt Lake City officials worked out a compromise with Miller and are now permitting him to use “their” rainwater, but the fact that individuals like Miller don’t actually own the rainwater that falls on their property is a true indicator of what little freedom we actually have here in the U.S. (Access to the rainwater that falls on your own property seems to be a basic right, wouldn’t you agree?)

*** end quote ***

I’m speechless. Why do we allow these idiots to rob us blind?

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MONEY: Insurance companies screw dead vets!

Monday, August 2, 2010

Fallen Soldiers’ Families Denied Cash as Insurers Profit
By David Evans – Jul 28, 2010 10:00 AM EST

*** begin quote ***

Lohman, a public health nurse who helps special-needs children, says she had always believed that her son’s life insurance funds were in a bank insured by the FDIC. That money — like $28 billion in 1 million death-benefit accounts managed by insurers — wasn’t actually sitting in a bank.

It was being held in Prudential’s general corporate account, earning investment income for the insurer. Prudential paid survivors like Lohman 1 percent interest in 2008 on their Alliance Accounts, while it earned a 4.8 percent return on its corporate funds, according to regulatory filings.

“I’m shocked,” says Lohman, breaking into tears as she learns how the Alliance Account works. “It’s a betrayal. It saddens me as an American that a company would stoop so low as to make a profit on the death of a soldier. Is there anything lower than that?”

*** end quote ***

This is outrageous.

While it may be important to protect the grieving families from blowing their money all at once, screwing them is unacceptable.

Where’s the VA, DOD, the politicians and bureaucrats?

Where’s the VFW and American Legion?

If I was KING, (and I’m not; nor do I want to be), I’d require that the insurance company open 100k$ FDIC insured accounts for the beneficiaries.

Fraud is force. Theft is theft. Stealing form widows and orphans is really low.

A plague on all their houses. The karmic wheel should roll their way. May their “lawn” be full of crabs.

What’s the one about wildebeests and elderberry?


# # # # #

MONEY: Competing currency is an inflation hedge

Thursday, July 29, 2010

Competing currency being accepted across Mid-Michigan
by Dan Armstrong
Posted: 07.12.2010 at 8:13 PM

*** begin quote ***

Jeff Kotchounian says he’s used this Ron Paul half troy ounce of silver to get $25 worth of gas from a local station. While the government and banks don’t accept them, many others do. So why is there interest in these competing currencies?

*** end quote ***

Pretty simple.


The Federal Reserve Bank is going to enable the politicians and bureaucrats to inflate their way out of the debt.

Of course, those on fixed income, the poor, and anyone with savings in dollars will be totally screwed.

A silver round may make the difference between eating and not.

# # # # #

MONEY: One slug is as good as another

Thursday, July 29, 2010

*** begin quote ***

Their warning came as new figures indicated there were £41 million fake £1 coins in Britain – one in every 36 in circulation. This is a record level and suggests that the proportion of counterfeit coins had tripled in the last decade. The situation has worsened since last year, when one in 40 £1 coins were fake. Experts and MPs said the level of fakes were so high there was now a serious risk that consumer confidence in Britain’s most popular coin was becoming compromised.

*** end quote ***

There has to be something “funny” — funny peculiar; not funny hah — at the bureaucrats calling out that fake coins might undermine confidence in their fiat currency. <Just shaking my head in disbelief> What is the intrinsic value of their “real” fiat coin. It’s worth what someone is willing to give you for it. If it’s a fake, it’s still worth what someone will give you for it. So this should point out that there is no difference between the “Real” and “Fake” ones. Isn’t that “funny”? Like the stories of countries printing high quality fake $100 bills. Who cares? There’s nothing to be “faked” out of. When coins were gold, or even silver, there was something of value that you could be “faked out” of. Now one slug is as good as another. No?

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POLITICAL: Follow the money

Sunday, July 25, 2010

How Congress makes Americans sick
Walter E. Williams
Posted: July 21, 2010

*** begin quote ***

The Fanjul family of Palm Beach, Fla., a politically connected family, has given more than $1.8 million to both Democratic and Republican parties over the years. They and others in the sugar industry give millions to congressmen to keep high tariffs on foreign sugar so the U.S. sugar industry can charge us higher prices. According to one study, the Fanjul family alone earns about $65 million a year from congressional protectionism.

*** end quote ***

Price supports and price ceiings are political payoffs to someone. You just have to follow the money. Cui bono?

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GOVEROTRAGEOUS: Buying a Kagan vote … … again

Saturday, July 24, 2010

Political Punch
Power, pop, and probings from ABC News Senior White House Correspondent Jake Tapper
An Obama Administration Job for Sen. Specter?

*** begin quote ***

Sources tell ABC News that Sen. Arlen Specter, D-Pennsylvania, has informed the White House that he would like to consider remaining in public service after his Senate term ends at the end of this session, and White House officials are keeping an open mind about possible job openings for him.

*** end quote ***

If the Illinois mess doesn’t prove anything to you, then you are a fool.

With Blago, that demonstrates that federal jobs are up for sale to the highest bidder.

Here’s the same thing happening again.
# # # # #

POLITICAL: Take only “Local” campaign conributions and publish them

Friday, July 23, 2010

Ex-Clinton fundraiser gets 12 years in prison
Thu Jul 15, 11:04 am ET

*** begin quote ***

NEW YORK – A wealthy Manhattan investment banker who was once a top fundraiser for Hillary Rodham Clinton and other big-name Democrats has been sentenced to 12 years in prison for bank fraud.

*** end quote ***

So why isn’t there any penalty for the political beneficiary of this “crime”?

There has to be a better way.

I haven’t heard anything better than restricting candidates from accepting money from outside the district that they seek to represent and “publishing” all sources of any funds or in kind services. That way we’d at least know who’s buying what politician and how much influence they are likely to exert on some politician. Simple, effective and efficient. No diktats or bureaucrats required. Call it the “Honest Politician” pledge. And, it up to the politician to demonstrate compliance. Maybe we can setup the “Honest Politician Society™” to preserve the standard and sue politicians who make the claim but don’t follow the principles.

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POLITICAL: An unholy attempt to fix the Constitution in a back room! Cui bono?

Tuesday, July 20, 2010

Mass. may join effort to bypass Electoral College
By Martin Finucane, Globe Staff

*** begin quote ***

Supporters are waging a state-by-state campaign to try to get such bills enacted. Once states possessing a majority of the electoral votes (or 270 of 538) have enacted the laws, the candidate winning the most votes nationally would be assured a majority of the Electoral College votes, no matter how the other states vote and how their electoral votes are distributed.

*** end quote ***

The political elite are seeking to rewrite the Constitution via backroom deals and open conspiracy to disenfranchise the “small states”.

When will we learn NOT to mess with the wisdom of the Dead Old White Guys. They were possible the smartest men ever assembled in one lucky place at the right time in history. We can go thru the Amendments passed, and one unpassed, as a litany to pure collective stupidity.

The Political Effete and the Party Powerbrokers would love nothing better than to have to win the popular vote in California, Chicago, New York, and host of other corrupt places to be assured of a national win. Ballot box stuffing and recounts on a National basis would become the norm. Argh!

The Electoral College was put in to protect the small states. The Constitution would have never been adopted without that design. I don’t know if they intended it, but it does firewall ballot box stuffing. Go ahead and stuff all you want in Massachusetts, you’ll only get 12 Electoral votes. Now if this change was adopted, that stuffing could determine the national election. Ever read any stories where there were more votes than registered voters (Say “hi” to Al Franken) or a large “graveyard vote” (Sam Rayburn and LBJ) or “voting machine breakdowns” in the non-machine party’s precincts? How about “keep counting until you get the answer you want then stop”?No, that could never happen in America!

And who is to tabulate and certify that grand total that all the conspiratorial states will use to determine their votes?

Argh! How stupid can we be!

# # # # #

UPDATE 01 August 2010

Massachusetts for Palin?
By Jeff Jacoby
Globe Columnist / August 1, 2010

*** begin quote ***

IT IS Election Night, 2012. The polls have closed. State by state, the votes are being counted, and gradually it becomes clear, to the bottomless horror of some voters and the unbridled delight of others, that Sarah Palin, the Republican presidential nominee, has bested President Barack Obama in the popular vote nationwide.

In Massachusetts, where Obama crushed Palin in a 79 percent landslide — the most lopsidedly anti-Palin vote of any state — “bottomless horror’’ doesn’t begin to describe the political reaction. For in 2010, Massachusetts joined the National Popular Vote compact, making a commitment to cast all of its electoral votes for the presidential candidate receiving the most votes nationally, regardless of the results in Massachusetts. The compact took effect in December 2011, when California became the 15th state to join, thereby uniting enough states to control a majority of the Electoral College. Now Massachusetts, the bluest of the blue states, must award its presidential electors to a candidate Massachusetts voters overwhelmingly opposed.

*** end quote ***


Twenty-second Amendment to the United States Constitution passed by the Republicans, to prevent a repeat of FDR’s four terms, term limited Ike. And, has dramatically altered the political landscape by making the President a “lame duck” in his second term.

That’s the best example of political stupidity.

The above Palin scenario would be absolutely hysterical.

# # # # #

HARDWARE: APPLE TIME CAPSULE died. But that’s not the whole story

Wednesday, July 14, 2010

One of the reasons for moving from Windoze to Apple as opposed to Linux was the Time Capsule.

It worked fine, until it died.

(Restoring files was balky at times, but any time I really had to do it, I was able to get it off. The User Interface for partial or complete restores could be easier imho.)

One day, I just was dead. No power. Plugged it into a different outlet. Flickered but died.

When I went on the web, it said “OOW! Sorry. You lose!!! Should have bought AppleCare on it.” Which really put my shorts in a knot. Pay a couple of hundred bucks for a 500$ item. Typical “extended warranty rip off.

I got around to taking my now deceased and out-of-warranty TIME BRICK back to the Apple Store. And, played dumb.

The Genius plug it in and it flickered and died. Another Genius was called over to consult. Replugged it in and same thing. Another Genius came over looked at the bottom of it and called a team huddle in a corner away from me and I couldn’t hear or read lips.

Genius One went to the docked macbook and began wildly typing. Then he announced “bad power supply, we’ll replace it but you’ve lost all the data. OK?”

Sure, it was just my backup device.

Another Genius, number FOUR if you’re keeping score, came over an typed in their machine and paper began to spit out of their printer.

I signed off on the paper. They took the BRICK. And said they’d call in three days for me to pcik up my brand new unit.

A duccessful jaunt, but I’m still annoyed.

What if I believd the website and tossed the unit in the trash?


This is “barbara streisand” that you have to be a mind reader and guess what’s been recalled.


I’d call that an “unfair deceptive practice”.

SO, if ANY Apple product dies, I’d drag the dead smelly carcass into an Apple Store. And moan and groan until you got something for your trouble.

I’d even go one step further. I wouldn’t be adverse to visiting ALL the Apple stores within driving distance dragging the dead body into the store.

Sooner or later, you might run into someone who’d have pity on you.


# # # # #

Apple announces replacement program for some 2008 Time Capsules

Posted on Jul 12, 2010 8:30 am by Serenity Caldwell,

# # # # #

TECHNOLOGY: Using technology as the excuse for process failures

Wednesday, July 14, 2010

Census ‘Successfully Completed’ Work to Date Despite ‘Shaky’ Computer Problems, Census Director Says
Monday, July 12, 2010
By Nicholas Ballasy, Video Reporter

*** begin quote ***

( – The director of the U.S. Census Bureau, Dr. Robert Groves, told that the Census “successfully completed” all operations to date despite a “shaky” information technology (IT) system that affected the early weeks of door-to-door counting. He added that he does not have “any evidence” that the IT problems had a “quality impact” on the accuracy of the population count, but encouraged people to wait for a final report that will be issued by the Commerce Department’s inspector general to “see what he has to say” as an “independent voice.”

*** end quote ***

Can you say “cooking the books”? What better way to get the result you want than to blame it on the technology.

# # # # #

MONEY: Pensions are a promise that will be reneged on

Monday, July 12, 2010

Is Your Pension Threatened?
For Immediate Release
July 09, 2010

*** begin quote ***

WASHINGTON D.C., July 8, 2010 — Controversy hit The Ric Edelman Show this week, when award-winning talk show host Ric Edelman ignited a debate on the future of public pensions in America.

A caller to Edelman’s nationally syndicated radio program sparked the debate. Mary Ellen, a 51-year-old, has little money in savings. But because she works for a city government, she can retire immediately thanks to a pension that will pay her $46,000 for life annually plus provide full health care benefits for the rest of her life. While she wondered if she could afford to retire, many of the show’s listeners wondered how our society could pay for her and millions of other public employees like her.

*** end quote ***


I’m more concerned about the trial balloon that urges the Gooferment to “save” old people from poor returns in the Stock Market by seizing all IRA / 401Ks from the custodians in exchange for an as yet undetermined “enhanced Social Security benefit”!

Wish Ric would opine on that.

We can all be in the same boat as the poor people in Zimbabwe!

# # # # #

GOVEROTRAGEOUS: “Unemployment insurance” ain’t insurace; it’s gooferment welfare?

Sunday, July 11, 2010

Man loses unemployment benefits after dipping into 401k
Lori Obert written by: Anastasiya Bolton   

*** begin quote ***

LONGMONT – After 32 years at IBM, in August of 2009, Bob Jackson was laid off and looking for a job.

“I never dreamed I’d have to have unemployment some day,” he said.

Jackson has been looking everywhere, including retail and home improvement stores, for more than a year. He hasn’t gotten anywhere.

“We’re lucky to get half way through the month before we’re completely out of money. It’s been rough,” Jackson said. “It’s a hard market right now to find a job, especially at my age.”

In November, Jackson filed for unemployment and received two checks.

As part of the rules for receiving benefits, every two weeks, Jackson had to call into what is called a CUBLine (The Colorado Unemployment Benefits Line.) The automated line goes through a series of questions unemployment benefit recipients answer. During one of the calls, Jackson was asked if he’d taken out a distribution from his 401k. He said he did, $10,000 to pay for his son’s college.

*** and ***

“Under our unemployment insurance program we’re following state law, which is if you touch even $5 dollars for your 401k it will impact your benefits,” said Cher Haavind, spokeswoman for the Colorado Department of Labor and Employment. “It’s an employer-funded program, whether it’s severance, pension or distribution of 401k, all those things, any other money you have received from the employer will play into your benefit amount.”

Haavind added, “The program is there to meet one’s needs again when they’re transitioning from job to job. Perhaps the perception is if you have other resources available to you that you should look at those first before receiving unemployment insurance benefits.”

*** end quote ***

Perhaps, the perception is that it’s “unemployment insurance”.


Gooferment, and its bureaucrats, really drive me off the deep end.

So it’s not insurance; it’s welfare.

It’s “employer funded”. Sure it is. If they put it in your paycheck, you could save for your own “unemployment”! Argh!

So the politicians justifiy messing with people’s lives and money on the basis that they are too stupid to manage their own money?


This is welfare for the lucky few and for the goofermetn bureaucrats who run the program.


# # # # #

RANT: MP4B, mp4b … why should you even care?

Saturday, July 10, 2010,0,5931688.column

On an ESPN show, the King shows up a supportive community.
By Bill Plaschke
July 8, 2010 | 11:27 p.m

*** begin quote ***

If you are going to leave the team where you’ve spent all seven seasons, leave the area where you’ve spent all 25 years, doesn’t decorum dictate that you do it quietly, gently, gracefully? Given that this town hasn’t enjoyed a major sports championship in 46 years, and given that your departure could keep them from winning anything for many more years, don’t you think of them first? Did no part of last season’s $15.8-million salary mandate, you know, manners?

You want to leave this place where you are so beloved, fine. Leave it like a man. Issue a news release announcing your decision and thanking Cleveland for its support. Hold a local news conference with the Cleveland media to reiterate those thanks. Then, and only then, do you appear on a national ESPN show to talk about your decision.

But no, years of coddling have filled James with such narcissism that he no longer sees anyone but himself. While reaping financial rewards as this country’s most successful basketball prodigy, James has paid the price in a failure to develop integrity or character. Hey, if you can dunk on someone, why do you have to be sensitive to them?

*** end quote ***

MP4B = “Millionaires Playing For Billionaires”

This is “entertainment”.

It has nothing to do with humanity (i.e., think the USA 1980 Hockey team), the struggle to attain something (i.e., think the movie RUDY), overcome adversity (i.e., that fellow who without arms or legs swims the English Channel), or the nobility of sport (i.e., Little Leaguers line up to congratulate the winning team; Japanese baseball players salute the umpire, not revile him).

It’s all about the benjamins and extracting them from the booboisie. (1).

There’s something elegant about truly amateur sports. Before the money got into it, women’s college basketball was like that. Young women busting butt for its own sake.

There is no longer “nobility” in Sports. LeBron is just following in the footsteps of Tiger, Kobe, McGwire, Pete Rose, … right down to Marion Jones lying about steroids. Even children, Danny Almonte in Little League; a baseball scandal without the big buxs.

So why should I care?

# – # – #

(1) booboisie (boob’wa-ze) n. The class of the population composed of the stupid and gullible.

# # # # #

SOCIALISM:Exactly how is microcredit for capital formation consistent with socialism?

Friday, July 9, 2010

RPT-FEATURE-Venezuela slum takes socialism beyond Chavez
06 Jul 2010 11:00:17 GMT
Source: Reuters
By Esteban Israel

*** begin quote ***

They are also turning their hands to urban agriculture and fish farming to feed locals, and say that the future communal bank will extend micro-credit to foster economic independence.

*** end quote ***


If these guys are socialists why do they need money. And, microcredit? That makes no sense. These guys are socialists. Credit is at the bedrock of capitalism. And, that’s their evil villain. Unfortunately, economics is as real as physics in terms of science. Scarcity is a sad fact of life. And, wishing it would go away is hopeless. And actually detrimental to making life better for everyone.

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SERVICE: LEGACY send out notifications after expirations

Thursday, July 8, 2010

>legacy sends notice of page going down AFTER it’s down


And, of course, the conflicted message: “email us” just not by replying!

Great IT architecture change. I guess the purpose is to generate revenue by forcing people to sponsor guestbooks. If the guestbook was reasonably priced, then they might have a change. But in this case, they are “grave robbers” trying to increase their bottom line

This accentuates the need for micropayments. Imagine that reading an obit cost a penny, or some fraction there of. WIth 300M people, let’s say 10% read the obits. (Probably higher!) That 30M times 1¢ of a Million Bucks! That would more than pay for the site. Plus ads. Plus all the other stuff they sell.

It probably has to be Visa or Amex to do it. It’s got to have strong cryptology, and audit ability. But it could be a real winner for some credit card company.

It could be tied into single use credit card numbers that also would need strong cryptology and account ability.

Wonder when someone other than a fat old white guy injineer will realize it?

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GOLDBUG: Speculating about gold confiscation is asking the wrong question

Wednesday, July 7, 2010

Government Confiscation of Gold: It Happened Before — Could It Happen Again?
by: J.D. Seagraves

*** begin quote ***

Although the U.S. dollar is constantly under pressure, the U.S. government continues to stockpile debt, and impossible-to-fulfill entitlement commitments loom on the horizon, the idea that the U.S. government would try to confiscate citizens’ gold today or anytime in the foreseeable future certainly seems spurious at best. After all, the government did so in the past in order to recalibrate the gold standard, which we have not been on since 1972.

However, our government has become increasingly bold in its refusal to be restrained by the Constitution, and following the return to limited government (at least in rhetoric) by the Reagan administration in the eighties, the Constitution has been all but ignored by subsequent administrations and congresses.

*** end quote ***

Sorry, but that is absolutely the wrong question.

Yes! With Gooferment debt as far as the eye can see. And “unfunded liabilities” that even scare politicians and bureaucrats abound. (Not for the reasons you think; they are worried how they are going to collect! Did you forget the three “laws” of policial behavior again? Remember the three “laws” of political motivation: (1) reward your friends; (2) punish your enemies; and (3) feather your own nest.)

So with this “crisis” looming, the popular tin foil hat worry is “gold confiscation”. Sorry, but that won’t help the politicians and bureaucrats through this crisis. Last time, it was easy and there was enough wealth that could be stolen to make it worth their while. This time, not as many people own gold, they don’t old anywhere near as much of it, those that do own gold also own guns, the population isn’t as docile and complaint as back then, and the We, The People are aroused and as irritable as a cranky tired child .

No, there will be no “FDR-style gold confiscation” because, pure and simple, it can’t give the politicians and bureaucrats enough wealth to pay their own pensions. Or, even allow them to buy enough votes to get reelected. That’s what the “crisis” is all about.

I think the correct question is “what WILL they seize that can end the crisis?”. That’s the question.

The only pot big enough is the 401k / IRA wealth save by Americans for their retirement and held by a small number of “custodians”. 13T$! Sticking there waiting to be stolen.

That will be their target.

Of course, it will have to be done: “to save the children”. In this case, it’ll be the “child-like investor” who will be deemed to need their “retirements” protected from the inability of Wall Street to be honest and to generate the returns necessary for a “safe and secure” retirement. And, of course, the “crisis”, the American version of the “Reichstag fire”, will be to “save Social Security, Medicare, and the Drug Benefit”. There have to be some “poor children” in there somewhere.

Think back when Bush supposedly wanted to “privatize” Social Security. (Like that was going to ever happen. It sent the message that “you victims have been getting screwed big time” and now were going to “allow you to be screwed a little less”. It said sotto voce that maybe you the individual didn’t need the wise old Gooferment to plan your retirement!) Remember how the politicians and bureaucrats screamed that the Stock Market was “unsafe”. (Yeah, like getting a negative 3 per cent return on your “Social Security” investment was safe. Or, that depending upon Gooferment not to change the rules on “Social Security” again. Remember it was never going to be taxable. It was never to be changed. It was the supposed “third rail” of politics. It was “retirement insurance”)

Get ready for a large dose of propaganda!

I suspect the argument will run concurrently along several lines: “Save Social Security for Future Generations”, “Save your Social Security from the Boomer shift”, “No Social Security for the Wealthy”, “IRAs and 401ks are not ‘safe’ in the Markets”, “It’s not fair to poor people who couldn’t save”, and “The Gooferment gave you a tax break so some or all of it is theirs”. Argh!

When the Gooferment first created IRAs in my early days, I didn’t go into one because I was concerned about them changing the rules on them. If we had blogs back then, I’d have ranted about them. Eventually my then accountant, (I’ve gone through several since then), convinced me to “take the tax deduction”. It meant I paid less taxes out of my own pocket and had this pot of money, that I couldn’t touch until I was old, over on the side. Eventually, I thought this was how they were going to get out of the Social Security “problem”. (Little did I know then!) But I was concerned then about taxablity. I suspected that they end the program at a “bad time” (i.e., for the Gooferment; when they needed the money), make it all taxable right there and then, and I’d be stuck for an even bigger bill. Argh!

SO! Short story, long! No gold confiscation. IRA / 401k confiscation.

It’s easy. Only have to “rob” a few thousand “custodians” who are mostly big banks and brokerages that are already under the Gooferment’s thumb.

It’s “enough”. 13T$ will allow the Gooferment to keep on spending.

It’s “politcally feasible”. Propagandize the Sheeple. Promise them “enhanced Social Security”. (With interest rates at below 1%, how much cash flow would you have to pay on 13T$? Think lie they are taking out fixed rate mortgage and you’re stuck with the paltry returns. No adjustments. Argh!)

That’s the question.

And so what are you going to do about it.


# # # # #

INTERESTING: Time to nuke Freddy and Fannie!

Thursday, July 1, 2010

Rethinking Part of the American Dream

*** begin quote ***

In hard-hit Las Vegas, nearly 59% of households own their homes, but only 15% to 19% of households own a home in which they have any equity left.

For many, the American dream of home ownership turned into a nightmare of debt and foreclosure. Some people should rent.

As late as the 1930s, a U.S. mortgage was generally a loan for three to five years, at which time the borrower had to pay it off. Then the government fostered the 15-year fixed-rate mortgage—and eventually the 30—and the concept that the homeowner would pay off principal in monthly installments.

*** end quote ***


Several thoughts occur to me here:

① 15 to 20% of homes left with the owners having equity? All those senior citizens who bought retirement homes? That’s astounding.

② Talk about malinvestment. (That’s Austrian economics term. See below.) Detroit, Flint, and Gary are destroying houses to avoid providing gooferment services. We as a society have our wealth destroyed by such action. Are there no homeles there?

③ It would seem that the FTC and the TREASURY / FED / SEC could stop this disaster anytime they want to. Regulations of minimum down payment like stock margins. Rules about honest disclosure. Limits on what banks can resell as “securities”. AND, the biggest rule, the originator get stuck with defaults! No more package it and forget it. (But then we’d see just how crappy the economy is. And, how many banks would be insolvent. It’s in the Gooferment’s interest to keep putting lipstick on the is pig. Pucker up! Guess who’s going ot have to kiss it?

④ I remember reading that Freddy and Fannie make the economy more uncompetitive and more “rigid” in that owning a home meant the workforce could not adapt to new opportunities in new locations. A high percentage of folks renting means they can move more quickly. Didn’t the Mayans force migrations by burning the village and forcing them to move hundreds of miles? Is this our modern equvalent?

⑤ Speaking of Freddy and Fannie, I see where bailing them out is going to be the “mother of all bailouts”. Shouldn’t we put them out of their, and our, misery? Time for a Constitutional Amendment banning all GSEs! (Gooferment Sponsored Entities)

⑥ Why don’t we bring back the 30 year Treasury Bond as a method of financing the deficit and easing the pain we are facing? Or is the GOoferment afraid of what that 30 year rate will be?

⑦ On HGTV, there are a lot of home buyers, some first timers, who are buying big ticket homes with nearly nothing down. Several hundred thousand dollar mortgages and they need “mortgage assistance”, seller paid closing costs, and even the tax credits to make the numbers work at all. And, in the cases of two income “families” (i.e., DINKs), one paycheck is completely going to the mortgage. Isn’t that a recipe for default in a job loss scenario?

⑧ Perhaps, it’s time for multi-generational households (i.e., grandma and grandpa buy with their retirement money; mom, dad, and the grandkids bunk in)? Wasn’t that the model before Social Security allowed Grandparents to escape to Florida? Makes the Grandparent able to dodge the nursing home.

⑨ Interesting that the Wall Street Journal paywall isn’t very encompassing.

# – # – #

“Panics do not destroy capital; they merely reveal the extent to which it has been destroyed by its betrayal into hopelessly unproductive works.”

— John Mills, December 11, 1867, on Credit Cycles and the Origin of Commercial Panics

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MEDIABIAS: No bias in delay for the Global Warming grazillionaire!

Thursday, June 24, 2010

The Gore complaint – Ben Smith: The Gore complaint
June 23, 2010

*** begin quote ***

Portland’s Oregonian today printed a police report echoing a National Enquirer story that a masseuse accused Al Gore of sexual harassment in 2006.

*** end quote ***

America is being badly served by the Fourth Estate!


It’s a shame when the National Enquirer sets the standard for “journalism”.

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RANT: Pro $ports?

Saturday, June 19, 2010

*** begin quote ***

The Los Angeles Lakers won their 16th NBA championship, dramatically rallying from a fourth-quarter deficit to beat the Boston Celtics 83-79 in Game 7 of the NBA finals.

*** end quote ***

Sigh, who cares?

MP4B = “Millionaires Playing For Billionaires”

And, the “after the win” riots. Why encourage this mindless activities? It’s not like the rioters “accomplished” anything.

Even the athletes in these endeavors seem hard pressed to generate enthusiasm in the interviews.

And, when you think of the tax money that subsidizes the “games”, well, that just sends me over the edge.

Sorry, but it’s all just so trivial in perspective imho.

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RANT: Verizonwireless makes me rebuy “my” ringtones

Friday, June 18, 2010

—–Original Message—–

Sent: Thu Jun 17 09:02:05 EDT 2010

Subject: Other

Message Body: My ringtones that I bought are not shown on the media store. As a matter of fact, the store says I have never bought one. Am I going to have a problem with my upgraded phones?

—–End Message—–

Argh! What “barbara streisand”!! How many times do they want to be paid for the same stuff?

Does any one care? FTC, FCC, State of NJ.


See the form letter below. I can just see the person push button number #327. Argh!

(Note to their IT Architect: Do you think you might be able to get Morning and Afternoon correctly. Or maybe it’s afternoon in INDIA! Argh!)

This war isn’t over yet. I’m tired of paying for the same “content” over and over again. I think or all my cassettes of content and I can’t listen to them on my iPod, iTouch, or computers. And they wonder why there’s “piracy”?


# # # # #

Date: June 18, 2010 11:44:04 AM EDT
Subject: RE: Other (WFM61668233)

Good Afternoon Mr. Reinke,

Thank you for contacting Verizon Wireless through our website. My name is Michelle, and I understand that you’re having a problem with the ringtones that you have online. I apologize for the inconvenience. I certainly know the importance of being able to personalize your device with your favorite tones. I’ll be glad to assist you.

Mr. Reinke, I’m glad that I had an opportunity to speak with you today on your mobile number ending in 3625. Per our conversation, I advised you that you can’t transfer ringtones to a new upgrade. I have provided you the information for the Media Retrieval, please remember that the ringtone swill be grayed out and available for re-purchase.

The My Media Retrieval service is a great service for moving Get It Now content to your new wireless phone. The retrieval process is fairly straight forward and easy. Please use the instructions below to retrieve your Get It Now content.

1. Navigate to the Verizon Wireless website, enter the 10-digit mobile number and password then click Sign In. To register, click Register then follow the step-by-step instructions.

2. From the My Services tab, click My Media.

3. Click Get Started.

5. Ensure the desired items are selected then click Retrieve.

6. To continue, ensure I agree to the terms and conditions is checked then click Accept.

7. Download the desired items.

Downloading retrieved ringtones

1. Ringtones retrieved from the website will be sent via a picture message. From the main screen, press the left soft key to choose Message.

2. Select Inbox then press the center of the 5-way navigation pad.

3. Select the desired picture message then press the center of the 5-way navigation pad.

4. Press the right soft key to choose Options.

5. Select Save (As) Ringtone / Save Sound then press the center of the 5-way navigation pad.

6. Enter a name for the file if desired then press the center of the 5-way navigation pad.

-Content unavailable for retrieval will be grayed- out and unable to select. Reasons for unavailability: the subscription has expired, the equipment is not compatible with the application or the application is no longer offered through Get It Now/ Media Center.

-Content not eligible for My Media Retrieval (will be grayed out and unable to select within the My Media Retrieval Screen):

Full track songs

Wallpaper content

Ringback Tones (Ringback tones transfer automatically)

Non-VZW Tones Ringtone content

Premium Messaging Content (PSMS)

Mobile Web applications

V CAST Videos

Expired subscriptions

Incompatible applications (device cannot support application)

Content purchases within 48 hours of ESN change

Content not transferred with any previous ESN change

Applications no longer supported through Media Center

Important Notes:

Non-VZW branded ringtone content will not be supported

MMS charges apply for any ringtone message sent

I hope the information that I have provided for you today regarding your ringtones was helpful.

I make it my personal goal to resolve all of your wireless concerns. I hope I have done that for you today. We appreciate your business and thank you for using Verizon Wireless. Should you have additional questions or feel your concerns are not resolved, please reply to this e-mail.



Verizon Wireless

Data Technical Support

Monday – Friday 6:30am-3:30pm

803-400-4456 x7703

If you have received this e-mail in error or are not the intended recipient, please notify us immediately by replying to this e-mail and deleting it and all copies and backups thereof. If you are the intended recipient and are a Verizon Wireless customer, this response is subject to the terms of your Customer Agreement.

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GOVEROTRAGEOUS: Fannie-Freddie Fix — nuke them!

Wednesday, June 16, 2010

Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case
By Lorraine Woellert and John Gittelsohn

*** begin quote ***

Fannie and Freddie, now 80 percent owned by U.S. taxpayers, already have drawn $145 billion from an unlimited line of government credit granted to ensure that home buyers can get loans while the private housing-finance industry is moribund. That surpasses the amount spent on rescues of American International Group Inc., General Motors Co. or Citigroup Inc., which have begun repaying their debts.

*** end quote ***

You have to be kidding me. When will we cut our losses on this disaster?

Surly even the politicians can see what a disaster this is. And, who are the other 20%? Politically connected friends? Argh!

Repaying. Yeah, this article repeats the “big lie” about repayment.

Got to buy some more gold and silver. It the shumer hits the fan, we’re screwed.

We’ll be the golden horde in the camps.

What will it take to bring on the revolution?

Can it be avoided?

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RANT: Without SSN there’d be no such thing as “identity theft”

Friday, June 11, 2010

Vol. 10, #22 – Jun 8, 2010 – Issue #432
Is Google The Biggest Threat Yet to Your Privacy?

*** begin quote ***

Of course, in many cases we don’t have much choice about giving out that personal data. You can’t just tell the doctor’s office “no” when they ask for your social security number and other personal info – not if you want to get treatment. You have to give that info to your bank because you need a bank account in order to pay your bills and cash your paychecks (sure, it’s possible to survive without one, but it’s not very convenient in today’s world).

However, many people also give out a lot of information that it’s not mandatory to reveal. I am also surprised at how many people put their full dates of birth and their cell phone numbers on their Facebook profiles, visible to the public. Date of birth is a piece of information that’s very valuable to identity thieves, and if you don’t have an “unlimited” plan, anyone who has your cell number can “text bomb” you and cost you hundreds of dollars.

*** end quote ***


Darn FDR and his Social Security Insurance scheme. Like a Ponzi scheme that you’re force to participate in.

It gave the Feds their universal identifier.

How many people remember that the original SSI cards said “Not for identification purposes”?

We are such boobs. The politicians and bureaucrats lied.

And, we bear the brunt of it.

Stupid, stupid, stupid.

You don’t OWN your name or your SSN!

It should be copyrighted, trademarked, or patented. So you can control it.

But most of all we shouldn’t have it at all!


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RANTING: Opened sold as new

Wednesday, June 9, 2010

Went to WalMart to get a smaller table and cheap printer.

Had some “excitement” with the old lady, but that’s another story.

Got the printer home! It was only 40$. (Yeah, I know they screw you on the ink.)

And, the printer doesn’t work.

It’s been used and repackaged.

I knew it when I opened the box. The plastic around it was not like a factory seal.

The contents aren’t right. Stuff is missing. And the cartridges are either gone or in the machine.

I’m pissed that this is another example of a return sold as new. I didn’t think WalMart did that. I know Officemax, Staples, and Office Depot do.

And it had a very complicated anti-theft device around it. So that means the Store has to have done it!

Back it goes today.

Very disappointing WalMart. I thought you were above that. At least Best Buy has an open box sale area and you know it’s not brand spanking new.


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GAMBLING: “Wheels” are not equally probably

Saturday, June 5, 2010


Wheels are an inherently an “unfair gambling practice”.

You see the Big Wheel and you know that all the values are equally probable. The promise meets reality.

However on the Wheel of Fortune, and all the other slots where that’s a bonus, it’s not true.

The implication is that the results are all equally possible outcomes and they are not.

That’s deceptive.

And, should not be allowed or patronized.


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GOVEROTRAGEOUS: CT AG is a fraud supported by fruads; protected by Holder?

Thursday, May 20, 2010

May 19, 2010
Phony Marine at Phony Vietnam Blumenthal’s Presser
Clarice Feldman

*** begin quote ***

Doug Ross spots a ringer. One of the merry band of brother “Marines” at the presser of Connecticut Democrat Senatorial candidate Blumenthal evidently is a phony soldier.

*** end quote ***

“Stolen Honor”!

Phony candidate has phony supporter!


Where’s the AG Holder? Oh yeah, he’s a D, so rules don’t apply.

And he is the CT AG!

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