RANT: BHO44 talks on economics

Wednesday, August 18, 2010

Is anyone listening to this?

Is he serious? “Social Security is NOT in crisis.” And the stock market diversification is “risky” because in 2006 the market went down.

Social Security is generally stipulated to be a negative return on investment of between 1 and 3 per cent. Compare that to the average 8 to 10 percent over any decade. (Even if you put your thumb on the scale, there are only 3 out 20 plus ten year periods where the return is negative or below 5%. Argh!)

And, why do we have “enforced savings”? Are people to stupid to balance their current and future needs?

Argh!

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Stossel does a much better job of skewering the economically illiterate BHO44!

http://reason.com/archives/2010/08/19/obama-demagogues-private-enter

*** begin quote ***

Senate Majority Leader Harry Reid accused Sharron Angle, who’s challenging Reid’s re-election bid in Nevada, of “raiding” the Social Security trust fund because Angle has talked about phasing out Social Security. There are two problems with that statement—as Reid must know: First, there never has been a trust fund! Your FICA tax payments were not saved or invested. Social Security transferred them to current retirees. Second, in return for IOUs, Congress raided Social Security’s budget surplus every year and spent like any other tax revenue.

*** end quote ***

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INTERESTING: Moral Hazard

Monday, August 9, 2010

http://cafehayek.com/2010/08/successful-bailout.html

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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INTERESTING: Sherrod Story; somethin’ is off

Saturday, August 7, 2010

http://www.americanthinker.com/2010/07/real_sherrod_story_still_untol.html

July 30, 2010
Real Sherrod Story Still Untold
By Jack Cashill

*** begin quote ***

“As an old pro,” Brown acknowledged, “I know that you don’t fire someone without at least hearing their side of the story unless you want them gone in the first place.” Brown observed that Sherrod had been a thorn in the USDA’s side for years, that many had objected to her hiring, and that she had been “operating a community activist organization not unlike ACORN.” Although Brown does not go into detail, he alludes to a class action lawsuit against the USDA in which she participated some years ago.

*** end quote ***

I agree. I smell a rat. And, maybe my tin foil hat is wrapped too tight, but nothing is ever as it seems.

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RANT: A good family serves as a prop for our Socialist President

Saturday, July 31, 2010

http://usa.greekreporter.com/2010/07/31/greek-theo-mastorakos-owner-of-restaurant-lunch-with-obama

Greek Theo Mastorakos, owner of restaurant, lunch with Obama‎!
Posted on 31 July 2010 by Apostolos Papapostolou

*** begin quote ***

The President visited Tastee Sub Shop, located at 267 Plainfield Avenue, and met with several local small business owners, including Dave Thornton, co-owner of eatery. Thornton and his business partner, Carl Padavano, met in school and worked in the Edison sub shop since they were teens. They opened a second Tastee Sub Shop together in South Brunswick, and Thornton opened a third location in Lawrenceville with his two sons.

*** and ***

The President’s small business jobs proposal would provide smaller banks with capital and incentives to lend to small businesses to allow them to expand. It would also support state initiatives to make it easier for small businesses to borrow and create tax incentives to promote small business growth.

*** end quote ***

As a long time patron, I’m sorry to see that hard working family used as a prop for our Socialist President. I hope they enjoy paying their higher taxes next year and the estate taxes when the Gooferment steals their hard earned wealth. Argh!

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RANT: BHO44 on the View

Thursday, July 29, 2010

As Beck says: “Makes blood come out of your eyes!”

Argh! cubed.

He talks about job creation, but ignores the uncertainty in taxes, regulation, healthcare, healthcare insurance, benefits, … … (why would anyone take on new obligation.

He conveniently ignores the end of year tax hike!

He ignores his promise of peace.

He talks about poll ratings and rightly says who cares.

He goes thru a litany of things he’s done.

We’ll see if it makes any difference.

He’s very telegenic and comes across as just one of the girls.

Unfortunately, he’s a politician and has trained in a “Jedi like” mind control.

Sorry, but I still see the guy who won’t release his papers, worshiped at Reverend Wright’s church, had a ghost written book advanced as his own, studied under the terrorist Saul Alinsky, and got his home mortgage from Tony Rezko.

How can you tell that a politician is lying?

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RANT: Making people into serfs

Monday, July 26, 2010

http://www.tulsaworld.com/news/article.aspx?subjectid=17&articleid=20100723_11_0_IronGa403000&rss_lnk=1

Thousands show up at Tulsa food pantry Friday
By MIKE AVERILL World Staff Writer
Published: 7/23/2010 12:47 PM
Last Modified: 7/23/2010 5:50 PM

*** begin quote ***

The message that was circulating was that the food boxes were free for anyone, however they’re actually restricted to families with children younger than 18 and there is an income restriction as well.

Through the program families can receive one 30-pound food box for each child and one box for every two adults. Families also receive one household box (toilet paper, soap, shampoo, toothpaste) for every two people younger than the age of 18 in the household. Families may receive these boxes each week.

Iron Gate receives 250 food boxes and 125 household boxes each week that it distributes Fridays and Saturdays in conjunction with its regular grocery distribution program. The program runs through September.

*** and ***

“The need seems to be overwhelming, not only in Tulsa but in the surrounding towns. We need to figure out how to better distribute these boxes. Other agencies are sending people to us for food,” she said.

*** end quote ***

Doesn’t anyone see a problem with this?

These people are “welfare farmers”. Now there are probably needy cases in there. But, how many has the Gooferment trained to depend on handouts?

Feed “stray cats” and don’t be surprised when you have more “stray cats”.

These are people, who should be accorded basic human dignity. They need “help”; not a “handout”.

That can’t be done by the Gooferment; it can only be accomplished by an energized empowered community — usually a church or a fraternal organization — who will invest time, money, resources, and most importantly attention to these people as people.

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http://www.acton.org/ppolicy/compassion/ppolicy_compassion_olasky.php

Seven Principles from a Century Ago by Marvin Olasky

*** begin quote ***

The crisis of the modern welfare state is a crisis of government, and it is more than that. Too many private charities and foundations dispense aid on the basis of what feels good rather than what works. As a result, they end up providing, instead of points of light, alternative shades of darkness. Too many act like the arrogant individuals criticized by F. Scott Fitzgerald in The Great Gatsby: “They smashed up things and creatures and then retreated back into their money or their vast carelessness… and let other people clean up the mess they made.”

*** end quote ***

1. Affiliation 2. Bonding 3. Categorization 4. Discernment 5. Employment 6. Freedom 7. God

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RANT: The fall out from Obamacare begins

Sunday, July 25, 2010

http://finance.yahoo.com/news/Some-insurers-stop-writing-apf-1129458619.html?x=0&.v=1

Some insurers stop writing new coverage for kids
Ahead of requirement to cover kids with medical problems, some insurers drop out
Ricardo Alonso-Zaldivar, Associated Press Writer, On Friday July 23, 2010, 8:03 pm EDT

*** begin quote ***

Blue Cross and Blue Shield of Florida issues about 9,000 to 10,000 new policies a year that only cover children. Vice president Randy Kammer said the company’s experts calculated that guaranteeing coverage for children could raise premiums for other individual policy holders by as much as 20 percent.

“We believe that the majority of people who would buy this policy were going to use it immediately, probably for high cost claims,” said Kammer. “Guaranteed issue means you could technically buy it on the way to the hospital.”

*** end quote ***

Romney care, Obama care, any kind of care … politicians and bureaucrats always make the same mistake — static analysis.

As a fat old white guy injineer, one of the first classes I took was “Static Analysis”. OK tough enough. Immediately followed by “Dynamic Analysis”. Now we let things move. Way way way more difficult.

So to in economics, people react to what is done, or not done, or even what is threatened to be done, and begin to act in their own self-interest. As any reasonable person would do!

That’s why, after the politicians raised the millionaires’ tax in Maryland, suddenly the next year there are a lot less millionaires in Maryland.

Do these politicians and bureaucrats think that they are the only ones who can read the tea eaves, make a plan, and carry it out?

Every beginning hunter learns quickly to lead the target.

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GOVEROTRAGEOUS: Buying a Kagan vote … … again

Saturday, July 24, 2010

http://blogs.abcnews.com/politicalpunch/2010/07/an-obama-administration-job-for-senator-specter.html

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.
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TINFOILHAT: What is BHO44 hiding?

Saturday, July 24, 2010

http://apnews.myway.com/article/20100713/D9GU01180.html

Republican senator says he backs birther lawsuits

Jul 13, 1:58 AM (ET)

By BEN EVANS

*** begin quote ***

A spokesman for Rep. Charlie Melancon, a Democrat challenging Vitter, called the birth certificate issue “nonsense.” “While Louisiana families are suffering from the biggest man-made disaster in history, David Vitter is trying to score political points by perpetuating a completely debunked conspiracy theory,” spokesman Jeff Giertz said.

*** end quote ***

Sorry, but my tin foil hat tells me that there is a cover up going on. Don’t know why? But, they are hiding something for some reason. And, the truth will always come out.

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MONEY: The Gooferment’s Long Term Care Insurance in Obamacare

Friday, July 23, 2010

http://www.ricedelman.com/cs/pressroom/pressroom_detail?pressrelease.id=1432

*** begin quote ***

Comparing CLASS to private sector LTC coverage. We’re pleased that the government is attempting to offer long-term care insurance, but CLASS doesn’t eliminate the need for you to buy a policy from private health insurers. First, CLASS’s daily benefit of $50 or $75 is woefully insufficient, considering that the average daily cost of a nursing home is $206, according to the 2010 Genworth Cost of Care survey, and that licensed in-home health aides today cost an average of $19/hour. Making these figures even worse is the fact that they are projected to be $268 and $21, respectively, when CLASS benefits become available in 2016. And unlike long-term care insurance you purchase, the government’s program is not a contract; benefits and costs can change.

*** and ***

In the meantime, do not let the notion of the CLASS program cause you to delay getting your own LTC insurance if your planner has recommended it for you. It’s unlikely that CLASS will meet all your LTC insurance needs, but even if it does, you should buy LTC insurance today to get the protection you need; you can always cancel the policy later, after you sign up for CLASS.

*** end quote ***

IMHO, getting old sucks. Pattie wiped out her little bit of lifetime savings in under a year. My Mom was forking out 10k$/month for “help” as she struggled to stay in her apartment. Anyone listening should have sufficient appropriate insurance.

It’s a funny peculiar calculation. If you have nothing, you need nothing; you get Medicaid. If you have 10M$, you need nothing; you’ll self-insure. Anything in the middle, you HAVE to have insurance. Where the middle starts and ends is arts not science. Argh!  

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