MONEY: Obama’s “Bailout Bonds”

Friday, April 10, 2009

http://www.lewrockwell.com/rockwell/bailout-bonds.html

Bailout Bonds?
by Llewellyn H. Rockwell, Jr.

*** begin quote ***

The Obama administration is cajoling investment companies to create bailout bonds. These would be similar to the bonds that wartime presidents created to find sucker-investors for their wars. Americans were browbeaten into buying them as a patriotic duty. So too those who say “yes, we can” to the bailouts will be asked to do their patriotic duty, and buy the debt of loser companies.

It’s all part of the war on depression, which is destined to be as successful as the war on drugs. But, hey, if it is a good investment, why not buy bailout bonds? Well, there’s a problem. The bonds represent credit extended to companies and projects that are proven market failures. Creating these bonds is a way of institutionalizing the principle of buying low and selling lower.

*** end quote ***

# – # – #

An even MORE important point is who’s going to buy ANY of the US Gooferment debt?

When the pundits say ONE or TWO Trillion Dollar Deficit, (that means they haven’t or can’t tax it to zero), there are really only TWO choices: INFLATION to monetize the debt (A fancy way to say “we’re going to screw everyone who hold dollars”; that’s why the Chinese with their 5T$ are upset. Inflation is a tax on every dollar that currently exists. How many do you have?) —-OR—- BORROW it. (The Treasury issue notes and bonds, basically IOUs, to folk who think they might get their money back with interest.

Who’s going to buy 2T$ worth of debt?

Not the unemployed. Not the “scared money”. Not the Chinese. Not the retirees who have taken a 50% haircut in the market. Not those with 401ks and IRA that have taken the same haircut or worse.

Who else has savings to loan Uncle Sam?

Watch for the interest rates to rise. See bond buyers KNOW their biggest risk is inflation. For those of us who lived thru the Carter Stagflation, we remember the Treasury couldn’t sell 15% tbills because price inflation was running 20%. History WILL repeat itself.

Gold and silver. Gold and silver.

# # # # #

Leave a Comment » | MONEY | Tagged: , , , , , , , | Permalink
Posted by reinkefj

RANT: How do I acquire this “moral obligation”?

Thursday, April 9, 2009

http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=93479

The moral dilemma of today’s statists
A Minority View Walter Williams
Posted: April 01, 2009

*** begin quote ***

There is neither moral justification nor constitutional authority for what amounts to legalized theft. This is not an argument against paying taxes. We all have a moral obligation to pay our share of the constitutionally mandated and enumerated functions of the federal government.

*** end quote ***

Unfortunately, I have to disagree with Professor Williams. I’m even further out on the Libertarian spectrum form him. I can refute his “moral obligation” with two words:

“Lysander Spooner”!

How is it I’m bound by what the DOWGs wrote before I was ever born?

And, that assumes that the Constitution in some way binds the gang in the District of Corruption!

Argh!

# # # # #

Leave a Comment » | Ranting | Tagged: , , , , , | Permalink
Posted by reinkefj

POLITICAL: Signs of revolution from the little people

Thursday, April 2, 2009

http://www.takimag.com/site/article/state_of_revolution/

State of Revolution
Posted by Jack Hunter on March 23, 2009
The national movement for state sovereignty

*** begin quote ***

For now, states’ rights legislation promises to remain symbolic, unless actions by the Obama administration pushes state legislatures toward more radical methods of circumventing federal power—or high profile, mainstream conservatives finally rally the troops by promoting what could potentially be the most serious right-wing resistance against the state in recent memory. Given Conservatism Inc.‘s current track record, we’re likely to see much worse from Obama before we ever get anything useful out of them. And states’ rights-minded legislators, with no support from their national party or allegedly sympathetic “conservative” media, will be left to defend themselves and their constituents as little more than hyperbolic Confederate retreads, two steps from “shooting at the Park Service guys out at Fort Sumter” and one-step from the loony bin—for even daring to question the legitimacy of the omnipotent modern state.

*** end quote ***

At some point, how does the “Third American Revolution” start?

Collapse of the dollar? Civil unrest? Non-violent non-cooperation? In the Jury Box? Tax revolt?

Or, does the slave merely set down their burden and refuse to pick it up.

Do the “rich” just throttle back on their earnings. Retire early. Or just “give up”?

# # # # #

Leave a Comment » | Political | Tagged: , , , | Permalink
Posted by reinkefj

POLITICAL: Tax revolt, anyone?

Tuesday, March 31, 2009

http://www.lewrockwell.com/roberts/roberts264.html

Leave a Comment » | Political | Tagged: | Permalink
Posted by reinkefj

RANT: Why do we have “public pensions”?

Monday, March 30, 2009

http://www.nypost.com/seven/03212009/postopinion/opedcolumnists/invitation_to_a_scam_160540.htm

INVITATION TO A SCAM
HOW TO SAFEGUARD NY PENSIONS
By NICOLE GELINAS
Last updated: 2:15 am
March 21, 2009

*** begin quote ***

ATTORNEY General Andrew Cuomo has alleged vast corruption in the massive taxpayer-guaranteed state pension fund, bringing criminal charges against political consultant Hank Morris and the fund’s former chief investment officer, David Loglisci.

*** end quote ***

The more important question is WHY do we have “public pensions”?

# # # # #

Leave a Comment » | Ranting | Tagged: , , | Permalink
Posted by reinkefj

RANT: Peaceful opponent are targeted for harrassment!

Wednesday, March 25, 2009

http://www.campaignforliberty.com/article.php

Peaceful Dissent and Government Witch Hunts By Anthony Gregory

*** begin quote ***

As most readers of this are probably aware, the Campaign for Liberty has been singled out, along with a few other political groups, in a leaked Missouri state government report, “The Modern Militia Movement.” The document tells state officials to be on the lookout for violent extremists while conflating them with pretty much anyone who criticizes the government. Perhaps most troubling, the information apparently comes from the Department of Homeland Security, meaning that similar documents could be circulating in states other than Missouri.

*** and ***

Now the flavor of government has changed from the Republican leviathan of George W. Bush to the Democratic leviathan of Barack Hussein Obama. A different group is vulnerable to being marginalized — in many ways a revitalization of the Clinton era atmosphere, although now with the post-9/11 concern about peace activists and all the surveillance powers inaugurated by Bush still in place.

*** and ***

The right to question the government, even from a mistaken point of view, is at the heart of America’s proud heritage. When America relinquishes this understanding, it comes to adopt the features of the supposed enemy. In the name of rooting out Communists, America became just a bit more communistic. In an effort to keep an eye on violent extremists, the government resorts to violence and extremism. All the labor agitators, Muslim sympathizers and militia groups put together can never threaten American freedom and security as much as an unleashed police state in a climate of fear.

*** end quote ***

Yes, the gooferment is like the gang that can’t shoot straight. But it’s my foot that is in the way.

I’m going to be pulled over for the Ron Paul bumper sticker? I own a gun (e.g., New Jersey has draconian gun registration laws). I own gold (i.e., I once used a credit card; never again). I blog (i.e., just Google my name). I criticize the gooferment of both parties. I “know” my rights. I support FIJA, oppose the psuedo drug war, anti-welfare, pro-immigration, “pro life”, and a “birther” to boot. Maybe I AM dangerous. Maybe I’m a terrorist.

Remember Pastor Martin Niemîller!

When will they come for YOU?

# # # # #

Leave a Comment » | Ranting | Tagged: , , , | Permalink
Posted by reinkefj

GOLDBUG: What is a dollar?

Tuesday, March 24, 2009

http://www.lewrockwell.com/murphy/murphy152.html

Defend the Gold Standard
by Bob Murphy

*** begin quote ***

I don’t trust central bankers to stick to a gold standard; that’s why I think the government should get out of the money industry altogether. Suppose we were starting in an initial state of pure laissez-faire in money and banking, and someone said, “Hey I know! Let’s give this Princeton professor – what was your name, sir, was it Ben? – a printing press, but be very stern that he can’t overdo it and allow the gold price to rise more than 1 percent from the day he starts. Does that sound like a good idea?” In response, I would obviously say, “No, that seems rather risky. I think we should stick to the current system, where the market determines how much new money is brought into the economy through gold production.”

*** end quote ***

We fall prey to these bozo bureaucrats when we let them mess with the money supply.

If we tie the value of a dollar to gold, then the Fed can’t just manufacture dollars out of thin air. And, congress critters can’t spend what they don’t take it.

It restores honesty to finances. It disciplines them into husbandry. It forces them to live with in OUR means.

After all in fiat currency, what is a dollar?

A toilet paper alternative?

Argh!

# # # # #

Leave a Comment » | GOLDBUG | Tagged: , , , | Permalink
Posted by reinkefj

INTERESTING: Companies can move!

Tuesday, March 17, 2009

http://www.americanthinker.com/blog/2009/03/welcome_to_the_new_houston_tx.html

March 17, 2009
Welcome to the new Houston, TX … Zug, Switzerland
Larrey Anderson and Otis Glazebrook

*** begin quote ***

Where does U.S. oil money go when Obama promises to punish the oil companies for excess profits? Reuters’ Sam Cage knows:

*** end quote ***

What these socialists forget is that companies can site where ever they want. So guess what? Bye bye USA!

It’s the corporate version of a “tax revolt”. They don’t stand and fight. They run.

Unfortunately, it’s harder for real people. If I was a wee lad, I’d be off to NH with the Free State Project. http://www.freestateproject.org/ Before your “roots” harden you into the ground.

Churchill’s words echo hollow here in NJ, when do we fight? When it’s hopeless!

# # # # #

Leave a Comment » | INTERESTING | Tagged: , , , | Permalink
Posted by reinkefj

POLITICAL: Obama signs huge spending bill and uses “signing statements” too

Thursday, March 12, 2009

http://news.yahoo.com/s/ap/obama_spending

Obama backs pet projects and signs spending bill
By PHILIP ELLIOTT, Associated Press Writer Philip Elliott, Associated Press Writer – Thu Mar 12, 1:41 am ET

*** begin quote ***

WASHINGTON – President Barack Obama, sounding weary of criticism over federal earmarks, defended Congress’ pet projects Wednesday as he signed an “imperfect” $410 billion measure with thousands of examples. But he said the spending does need tighter restraint and listed guidelines to do it. Obama, accused of hypocrisy by Republicans for embracing billions of dollars of earmarks in the legislation, said they can be useful and noted that he has promised to curb, not eliminate them.

On another potentially controversial matter, the president also issued a “signing statement” with the bill, saying several of its provisions raised constitutional concerns and would be taken merely as suggestions. He has criticized President George W. Bush for often using such statements to claim the right to ignore portions of new laws, and on Monday he said his administration wouldn’t follow those issued by Bush unless authorized by the new attorney general.

White House officials have accused Bush of using the statements to get around Congress in pursuing anti-terror tactics.

Obama signed the bill in private, unlike a number of recent signings that took place with fanfare, but he raised the issue of earmarks in public remarks playing down their scope and possible harm in the measure.

{Extraneous Deleted}

*** end quote ***

So let me see, all those campaign promises were just hot air.

And, we hide away from the cameras to sign it.

And, you sheeple think things were going to “CHANGE”? All you can do is “HOPE” it gets better.

He’s a Chicago hack that said anything to get elected. He’s 100% Socialist.

We can only hope that the American Electorate wakes up in the mid-term election and returns us to gridlock.

Argh!

# # # # #

Leave a Comment » | Political | Tagged: , , , , , , , | Permalink
Posted by reinkefj

GOVEROTRAGEOUS: Cramer (a leftist) points out how O doesn’t get it!

Wednesday, March 11, 2009

http://www.mainstreet.com/article/moneyinvesting/news/cramer-takes-white-house-frank-rich-and-jon-stewart?page=6

Posted March 09, 2009
Cramer Takes on the White House, Frank Rich and Jon Stewart
By Jim Cramer

*** begin quote ***

Suddenly, bloggers, opinion people, columnists and, yes, pundits who haven’t paid attention to anything I have been saying or writing for the past 18 months are all over me. Suddenly, I find myself in the center of a firestorm over Obama’s economic policies, taking enfilading fire from the “liberal” media (from serious columnist Frank Rich to entertainer Jon Stewart) while being defended by Rush Limbaugh, the standard-bearer for the Republicans.

*** and ***

The answer lies in the way the two administrations handled criticism.

The Bush administration, I believed, simply chose to ignore my warnings, perhaps because of a brutal combination of ideology, fecklessness and complacency.

*** and ***

President Obama’s team, unlike Bush’s team, demonstrates a thinness of skin that shocks me. When I somewhat obviously and empirically judged that the populist Obama administration is exacerbating the crisis with its budget and policies, as evidenced by the incredible decline in the averages since his inauguration, I was met immediately with condescension and ridicule rather than constructive debate or even just benign dismissal.

*** and ***

The markets thought he could stop it; hence the giant relief rally when he was elected. But in fewer than 50 days of his ascendancy, the markets’ hopes were totally dashed and the averages are now forecasting the worst decline since the Great Depression. As someone who listens to what the averages are screaming, I think they are accurately predicting the future.

I welcome any serious exchange with the administration on the issues that are not beyond my ken: fixing house price depreciation, stopping the destruction of wealth as demonstrated by the stock market’s plunge, and solving the banking crisis before we nationalize every bank.

*** and ***

It’s time to get serious. It’s time to take the issue from the pundits and from the left and right, and put it where it belongs: serious non-ideological debate to put out the real firestorm, the collapse of the economy from Wall Street to Main Street and the ensuing Great Wealth Destruction for all.

But if it stays ad hominem, we will all be betrayed and the train wreck will become inevitable.

*** end quote ***

The inept politicians from both sides of the aisle have destroyed the investments of most people. And, all we get from them is “spend more” and “borrow more”.

STOP!

You’re putting future generations in a hole they will never get out of.

Let the failures go bankrupt. Tough medicine.

We are training future generations NOT to invest.

I’ve had two conversations that are noteworthy.

A young woman has pulled out of her 401k because the losses have eaten into her employer’s contribution and hers. A doctor is moving from equities to bonds and his “financial advisor” at the brokerage house thought it was a good idea (i.e., he gets a commission on trades; not results).

The Market’s P/E ratio is either in or going into the single digits. (Last time that happened the market doubled in a year!) The “natural recovery” from a downturn has already begun. See the uptick in home sales as the “affordability” measure is it’s lowest in decades.

Note to O: (1) Reinstate the uptick rule. (2) Aim the corporate beggars to the bankruptcy courts. (3) Grab your various regulators and ask them to resign. (4) Eliminate Federal guarantees of ARMs, Interest only, and any mortgage that’s not 20% down 30 year fixed “conforming”. (4) Tell the FBI anf your Federal Prosecutors you want some FRAUD convictions for all the bad paper. (5) Tell the SBA that you want a plan to stimulate small business by the end of the day.

Cut the spending, cut the debt, cut the waste.

Argh!

Like that’s ever going to happen!

# # # # #

Leave a Comment » | GOVEROTRAGEOUS | Tagged: , , , , , , , , , , | Permalink
Posted by reinkefj

« Previous Entries
Next Entries »