RANT: Sheepke are suckers

Monday, August 3, 2009

http://channel-surfing.blogspot.com/2009/07/forget-tea-parties-wherere-pitchforks.html

*** begin quote ***

We will continue to need significant public spending to get us out of this mess

*** end quote ***

SORRY, buzzz, incorrect thinking.

The gooferment can’t get us out of this mess, that THEY put us into. (Sweetheart deals for their pals on Wall Street. See CRA, Freddie, Fannie, FED, FTC, etc, etc! Oiled by “contributions” to Dodd, Barney, and others.)

The gooferment has completely corrupted our concept of money. The stuff they are printing ain’t “money”. It’s toilet paper. And, just look at the value of the dollar over time or in international trade and you can see the result.

They will get us out of this mess by inflating the currency. It’s the only tool they have. Screw the savers, those on fixed income, and anyone holding “dollars”. Inflation rewards their friends and gives them more “money” to spend.

In actuality, the only way to get out of this mess is to do the hard work. Cut the gooferment down to a size we can afford (about 25% of what it is now). Free individuals and small biz from regulations desinged to protect the “players” (i.e., those supposedly regualted). Cut taxes.

But they won’t do that. The politicians, the congress crtiters, and the bureaucrats like things just the way they are.

Sheeple are suckers!

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RANT: Bush43 / Obama44 did the samething

Tuesday, July 7, 2009

http://apnews.myway.com/article/20090704/D997DI2G1.html

Venezuela assumes control of Spanish-owned bank

Jul 4, 12:22 AM (ET)

By FABIOLA SANCHEZ

*** begin quote ***

(AP) Venezuela’s Finance Minister Ali Rodriguez Araque, left, shakes hands with former president of…

*** begin quote ***

CARACAS, Venezuela (AP) – President Hugo Chavez’s government assumed control of Venezuela’s third-largest bank on Friday – making the state the largest player in the nation’s banking system.

*** end quote ***

And this is different than what Bush43 / Obama44 did?

Chavez = bad communist dictator!

Bush43 / Obama44 = “good guys”.

Why because they are “ours”?

Argh!

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GOVEROTRAGEOUS: No Justice in the Government’s Courts

Monday, July 6, 2009

*** begin quote ***

A federal judge approved the sale of G.M.’s assets to a new government-run company, removing a major hurdle to the auto maker’s plan to exit bankruptcy.

http://online.wsj.com#mod=djemalertNEWS

*** end quote ***

As a GM bondholder getting screwed, why would I expect justice from the government’s court? THe government seized my propoerty violating the rule of law. And, the government’s court approved the government’s plan in violation of the government’s law.

Tyranny!

But not a surprise.

Who protects the serfs from the “King”?

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MONEY: ALLYBANK; corpse of GMAC

Thursday, July 2, 2009

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MONEY: Banks aren’t safe

Friday, June 26, 2009

http://mises.org/story/3507

Dead Banks Walking
Mises Daily
by Doug French
Posted on 6/11/2009 12:00:00 AM

*** begin quote ***

On the other hand, if a legitimate banking system were in place, it would be based upon honoring property rights. Customers making a deposit in a bank expect the bank to guard, protect, and return their money — at a moment’s notice in the case of demand deposits. After all, that person has not traded a present good for a future good. The depositors believe the bank is warehousing the money for them and that it is available to them at any time. This deposit is not a loan — there is no fixed term, which would be required in the case of a loan — and availability hasn’t transferred.

However, we don’t have legitimate deposit banking but a fractionalized banking system that combines deposit banking with loan banking. Those that sympathize with fractionalized banking will contend that time certificate of deposit accounts are in essence loans from depositors, entitling the bankers to use the funds at their discretion for the term of the CD — just as long as the banker has the money ready when the CD matures. But if the money is lent secured by illiquid assets such as real estate, the banker is clearly not counting on those loans to satisfy expiring CDs and must count on attracting new CD money to pay off the old.

“There is no incentive for bank depositors to go to the trouble of determining a bank’s soundness if the government is going to guarantee deposits.”

Bankers, pressured to earn returns for shareholders and protected from bank runs by FDIC insurance, have over time lent not only more of their deposits but advanced the money for riskier projects. James Grant in a recent Grant’s Interest Rate Observer reminisced about National City Bank, which back in 1954 had only lent out 41 percent of its deposits, with less than one percent of the portfolio being real-estate loans.

By the end of last year, the total loan-to-deposit ratio for all US banks and thrifts was 87 percent, and 60 percent of all loans were classified as real-estate secured.

*** end quote ***

Bottom line: Don’t invest in any bank stock.

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NEWJERSEY: Take advice aimed at California. Now!

Wednesday, June 24, 2009

http://roomfordebate.blogs.nytimes.com/2009/06/21/california-bailout-reckless-or-inevitable/

June 21, 2009, 9:13 pm
California Bailout, Impossible or Inevitable?
By The Editors

*** begin quote ***

The Obama administration has told California not to expect a federal bailout. So how should the state deal with its $24.3 billion shortfall? Can it save itself? Or is it likely that the taxpayers of Iowa and Utah will end up picking up the tab of the state that represents an eighth of the nation’s economy? We asked Ron Paul and others for their views on what has to happen next.

*** end quote ***

Don’t Reward Exorbitance
Ron Paul, a United States representative from Texas and a medical doctor, is the founder of Campaign for Liberty. He ran for president in 2008 and is the author of “The Revolution: A Manifesto” and “End the Fed.”

*** begin quote ***

Californians know they are overtaxed

*** and ***

Instead of seeking federal aid, California should cut spending, rethink some of its unsustainable public pension programs, tame down the expensive and failed drug war, and repeal regulations that discourage economic growth. According to a 2008 piece by The Independent Institute’s William Shughart, the state owns more than 20,000 buildings and 6.7 million acres of land, a portion of which is “surplus” property that could be sold to private owners.

*** end quote ***

Sounds like advice that New Jersey could use as well!

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POLITICAL: THe new “inside trader”

Monday, June 22, 2009

http://www.suntimes.com/news/1620776,CST-NWS-durbin13.article

Durbin cashed out during big stock collapse
WASHINGTON | Asset sales came after meeting with Fed, Treasury chiefs
June 13, 2009

*** begin quote ***

As U.S. stock markets plummeted last September, the Senate’s No. 2 Democrat, Dick Durbin, sold more than $115,000 worth of stocks and mutual-fund shares and used much of the money to invest in Warren Buffett’s Berkshire Hathaway Inc.

The Illinois senator’s 2008 financial disclosure statement shows he sold mutual-fund shares worth $42,696 on Sept. 19, the day after then-Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke urged congressional leaders in a closed meeting to craft legislation to help financially troubled banks.

*** end quote ***

Of course, there was no connection between the meeting and his actions.

The fact that Paulson probably said “I wouldn’t be holding any equities” and Bernake “I’m printing money like there’s no tomorrow”, never entered into his thoughts.

Inside information. Insider trading.

Only applies to non “public servants”.

Yeah, right!

Poor Martha! I’m sure she did less than this fellow. She didn’t create the mess.

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LIBERTY: The Gooferment is in charge!

Tuesday, June 9, 2009

http://www.breitbart.com/article.php?id=D98NEVL80&show_article=1

High court won’t block Chrysler sale
Jun 9 06:27 PM US/Eastern

*** begin quote ***

WASHINGTON (AP) – The Supreme Court has cleared the way for Chrysler’s sale to Fiat, turning down a last-ditch bid by opponents of the deal.

The court said late Tuesday it had rejected a plea to block the sale of most of Chrysler’s assets to the Italian automaker. Chrysler, Fiat and the Obama administration had warned that the high court’s intervention could have scuttled the sale.

A federal appeals court in New York had earlier approved the sale, but gave opponents until Monday afternoon to try to get the Supreme Court to intervene.

*** end quote ***

The bondholders really couldn’t expect “justice” from a gooferment court.

Talk about a stacked deck!

The President’s plan taken before the Government’s Court. And, you expected a different result.

Watch the bond markets now! Nothing is safe from gooferment manipulation.

Now what happens to the Indiana pensioners who just got screwed?

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GOVEROTRAGEOUS: The White House hustled the Chrysler bankruptcy judge?

Tuesday, June 2, 2009

http://apps.detnews.com/apps/blogs/autosblog/index.php?blogid=746

Category: Chrysler bankruptcy
Posted by Manny Lopez (The Detroit News) on Mon, Jun 1, 2009 at 6:19 AM
Carefully orchestrated indeed

*** begin quote ***

The bankruptcy judge hearing the Chrysler case said Friday he wasn’t going to rule on the asset sale until today or Tuesday, but a call from the White House must have prompted him to move faster because he ruled in the wee hours of this morning.

See, the administration wanted to hold up Chrysler as an example of a “quick and speedy” bankruptcy, but Judge Arthur Gonzalez – deciding he needed more time to rule – put a crimp in those plans and left the White House looking at a GM filing today and Chrysler still in. Oops.

Remarkably, Gonzalez got all his work done just in time and filed his opinion after midnight to save the show.

I’m sure we’ll hear today when questioned that the White House had nothing to do with that timing, just as we’ve heard that it is not making management decisions at GM or Chrysler.

*** end quote ***

Please you expect “justice” from a government court when the President is involved?
Don’t make me laugh!
Sheeple!
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MONEY: If You Care About the Uninsured

Friday, May 29, 2009

http://www.reason.com/blog/show/133627.html

If You Care About the Uninsured, Please Drink Budweiser. Or Schlitz. Or Coors. Or Hamm’s. It Doesn’t Really Matter What Beer You Drink, Only That You Drink a Highly Taxed Beer. And If You Really Care About The Uninsured, Why Not Drink a Case of Beer?

Nick Gillespie | May 21, 2009, 7:21am

*** begin quote ***

Is it too late to take it all back, this loose talk about legalizing “vices” and then taxing them?

Some details on a “proposed beer tax” currently working its way through Congress like a kidney stone through Ted Kennedy’s man-parts. It’s all over but the shouting, screaming, and gnashing of teeth:

   Consumers in the United States may have to hand over nearly $2 more for a case of beer to help provide health insurance for all.

   Details of the proposed beer tax are described in a Senate Finance Committee document that will be used to brief lawmakers Wednesday at a closed-door meeting.

   Taxes on wine and hard liquor would also go up. And there might be a new tax on soda and other sugary drinks blamed for contributing to obesity. No taxes on diet drinks, however.

   Beer taxes would go up by 48 cents a six-pack, wine taxes would rise by 49 cents per bottle, and the tax on hard liquor would increase by 40 cents per fifth. Proceeds from the new taxes would help cover an estimated 50 million uninsured Americans.

*** end quote ***

And, of course, there won’t be any discussion of:

(1) Why do beer drinkers have to pay for the “uninsured”?

(2) Who is in the 50M “uninsured”? (Young people, people who could afford insurance, illegal aliens, UAW pensioners)

(3) Why is the government in the health insurance business in the first place?

Argh!

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