Tag Archives: republicans

1000 Point Drop DOW!?! Greeks Burning Greeks! Wall Street Bonuses Out of Control! Time For The Fed To Bailout Europe…Yea Baby Give Me More!

With Obama’s apparent strategy leaning towards exploring every single way to collapse the United States, it isn’t a surprise that we are bailing out Europe. Ah, all the wonderful leftists love to crow about this or that European fashion, ridiculous pensions, life time employment, huge bureaucracies, nanny state, check, check, check, check and check, leftists in the US want all of that! Don’t worry though because it is the rare conservative indeed who will speak out against the “safety net” indeed finding a so-called right wing politician who will admit forthrightly that he intends to cut spending is akin to finding a leftist questioning the idea that someone’s “needs” trumps my freedom. (This makes Conservative NJ Governor Chris Christie a real up and comer and Ron Paul a saint) We are going straight to hell and the goddamn hand basket is in flames! Anyways Zero Hedge as usual is all the way around the story. Really if you aren’t reading Zero Hedge, The Market Ticker ®, Financial Armageddon, Calculated Risk, Dollar Collapse and a few others then all of what is happening is a big ass shock to you. Being surprised is only fun for your birthday.

We are rapidly approaching a point where it simply won’t matter whether the politicians and their needy minions want to cut this or that “safety net”…we have outgrown our ability to pay for all we have promised. As economist Robert Samuelson points out in a recent article we are witnessing the Welfare State’s Death Spiral. And this European Bailout is the sort of dumb move, that will accelerate our final reckoning. What is hilarious and indicative of Obama’s desire to destroy this country is that at the VERY the same time we rushing to adopt all of the sorts of policies that put Europe in that position. Weee!

Well guess what: with about $500 billion in liquidity swaps about to hit the asset side of the ledger (that’s a conservative estimate based on the last time the Fed went full bore on bailing out Europe, and sorry, that European bailout does not come cheap), Excess Reserves (fed liabilities) are about to skyrocket by a comparable amount to match the assets. And here is the double whammy: $500 billion in new excess reserves earning 0.25% for holder banks, means US banks are about to earn an additional $1.25 billion a year risk-free courtesy of US taxpayers, who already are getting the shaft by paying more for gas thanks to the privilege of having bailed out Europe and drowned the world in new and unprecedented gobs of excess liquidity! Simply stated, the Greek “bailout” is a roundabout way of funneling over another extra billion to US banks! Direct cost to US taxpayers to bailout Europe via IMF: $50 billion; Indirect cost to fund incremental bank excess reserves: $1.25 billion; The joy of being raped daily by the Fed-Wall Street complex and assuring another year of record Wall Street bonuses: priceless. Some things money can’t buy. For everything else there are trillions in Federal Reserve Notes appearing each and every day out of thin air. Fed Pretends It Is Preparing To Soak Up Excess Reserves, Even As Currency Swaps Are Sure To Add About $500 Billion To Fed’s Assets | zero hedge (emphasis mine)

Senator Johnny Isakson, Can You Name His Party? Buffoons On Parade…

Just so we are clear about what is bothering many regular citizens in this country. In my business if something doesn’t work I don’t continue to throw money at it. Used to be that we could tell who the Republicans and Democrats were by where they stood on throwing money towards problems. Read the snippet below and try to apply that same reasoning to the problem and you will probably guess this buffoon is a Democrat…you would be wrong.

Johnny Isakson’s Position Statement on the Economy
As our nation continues to struggle through the current economic crisis it is important to stay focused on the recovery aspects. I believe the key to returning stability to the economy lies within the housing market. We must find a way to keep people in their homes, stabilize foreclosures and return consumer confidence to the marketplace. Once stability comes back to the housing market, you will see investors and small business begin to reinvesting in job creating activities, which will put hard-working Americans back to work. I will leave no stone unturned in pushing to address the housing market as the catalyst for turning around our entire economy. Our nation has always demonstrated a strong resiliency and I am confident we will once again bounce back stronger than ever, where hard-working Americans are at the front lines of economic prosperity.

Tax Credits for Homebuyers

I believe our economic problems start with the housing market and that we must restore the house market if we are going to restore our economy. To draw buyers back to the market, I have introduced a proposal to invigorate housing demand and to boost the economy by expanding the first-time homebuyer tax credit passed by Congress earlier year.

Specifically, my legislation would increase the maximum amount of the credit from $8,000 to $15,000 and expand the current tax credit so that it applies to any buyer of any home, not just first-time buyers. My legislation also would eliminate the income caps of $75,000 for an individual and $150,000 for a couple under the current tax credit so that there is no income limit for eligibility. Finally, the legislation would extend the tax credit for one year from date of enactment and would still allow homebuyers to claim the credit on their 2009 tax return for purchases made in 2010. Johnny Isakson, United States Senator

Senator Isakson identifies the problem as foreclosures when in reality that is a symptom. It is exactly the result of his easy money, no penalty for failure policies, policies that he would like to double down on. Folks walk away from houses when they don’t have a lot of skin in the game. If I don’t put any money down plus I get tax credits for playing House Casino and additionally it is official policy that it wasn’t my fault and no penalty should occur if I walk away…well guess what? I will walk away when it becomes non-profitable. But since when has it been a Republican value that we take money from those who earn it to give to those who gamble it? Since when is it considered prudent to play the housing market like penny stocks? When did Republicans sign on to that nonsense…?

One of the biggest problems facing the American people today is an illiquid housing market, a decline in their equity, a decline in their net worth and a depression in the housing market that we are obligated to correct if we possibly can. Today, in the United States, one in two sales made every day is a short sale or a foreclosure. That is an unhealthy market, and it is continuing to precipitate a downward spiral in values, loss of equity by the American people and a protracted, difficult economic time for our country.

“We are obligated to correct”…who is this we Kemo Sabe? You got some dumb folks who love throwing good money after bad hiding in your pockets? This bubble you idiotic politicians have created may be the death of our financial system. It has already brought down a tremendous number of banks who thought gambling with other peoples money was a good idea. You not satisfied yet? Want to blow that bubble up one more time?

How can we counter “progressive” Democrats when Republicans are proposing essentially the same dumb programs? Let me clue you in Senator Isakson.

The housing market NEEDS to run out all these get rich quick schemers. And it needs to run out all those folks who did not use the same sort of prudence those of us who are not in trouble used when buying our houses. There needs to be a financial bar that folks need to be able to step over. There have to be penalties for those who fail to uphold their commitments to paying their bills.

Sorry this is harsh but it is reality. You seem to have no problem at all using my money to bail out folks whose decision making skills rival my fish. I am offended by this since my money does not grow on trees. Senator some of us have to actually work for our money…we would appreciate it if you didn’t throw it away.

Republicans heal thyselves!

Darn Those Consumers Why Aren’t They Running Up the Credit Cards Like They Used To? Hmmm…

That sure is a steep drop for an economy with only 8.9% of the populace unemployed. Could the Government be fudging the unemployment numbers?

WASHINGTON (Reuters) — U.S. consumer borrowing fell more than expected in March, plunging a record $11.1 billion, a Federal Reserve report showed Thursday.

March consumer credit fell at an annual rate of 5.2% to a total of $2.55 trillion. This was the biggest percentage drop since December 1990.

February’s decrease was revised to $8.1 billion from an originally reported $7.5 billion drop.

Analysts polled by Reuters were expecting a $3.5 billion drop in consumer borrowing for March.

Non-revolving credit, which includes closed-end loans for big-ticket items like cars, boats, college education and holidays, dropped $5.7 billion, or at a 4.2% rate, to $1.6 trillion.

Revolving credit, made up of credit and charge cards, fell $5.4 billion, or at a 6.8% rate, to $946 billion in March. This compared with a revised $9.7 billion drop in February.  Consumer credit falls a record $11.1 billion in March – May. 7, 2009

After all if only 8.9% of the folks are unemployed like the Government says than why is this happening? Could the Government be full of shit about the unemployment numbers? Nah, the Government never lies. They would never change the way unemployment is calculated to make themselves look better.

Well let me just say that if you are interested in the economy and you don’t have a subscription to John Williams website then you are missing the real story.

Here is a taste and here is the link to the site, Shadow Stats.

JOHN WILLIAMS’ SHADOW GOVERNMENT STATISTICS FLASH UPDATE May 8, 2009 __________ Better-Than-Expected April Jobs Report Had A Bad Odor to It 539,000 Jobs Loss was 605,000 Net of Revisions, 491,000 Net of CSFB Birth-Death Bias Showed Unusual Jump in April __________ PLEASE NOTE:

The next planned Flash Update will follow the release of the April retail sales report on Wednesday, May 13th, with a subsequent update following the April CPI report on Friday, May 15th. – Best wishes to all, John Williams CBS news radio this morning (May 8th) was headlining and hyping a likely improvement in the jobs picture, well before the April employment report was released. Where the White House formally received the employment detail after the markets closed on Thursday (and probably had a good sense of the number a week before), today’s reporting looked very much like an orchestrated event. News organizations usually are pretty conservative about touting market-moving reports in advance of a release.

Continuing a pattern seen in the last seven monthly payroll reports, today’s estimates included negative revisions to the previously-report February and March payroll changes (see the Reporting/Market Focus in the most recent SGS Newsletter No. 50, for further background on this indication of flawed reporting), but the Concurrent Seasonal Factor Bias (CSFB) reversed in April (see below). There also was an unusual surge in birth-death modeling bias. Separately, unusual seasonal adjustments were apparent in the unemployment report, which, unlike the payroll reporting, was exactly as bad as expected by consensus forecasts.

Never again a moderate…freedom is not a moderate value. I do not want to be moderately free.

This is an email in response to a heads up on a private email list regarding the Pajama Media initiative "Conservatism 2.0"

It (Conservatism 2.0) will be interesting if it actually adopts conservative positions instead of knee jerk support President Bush’s positions. We don’t need any more No Children Left Behind, Prescription Drug Benefits, Islam is the Religion of Peace, Killing Free Enterprise to Save It, Bail Out Everyone Because Failure is Unacceptable, Shamesty, A Republican Party That Nominates A Guy Who Threw the Race for President, Bipartisanship a Value Unto itself and the rest of the nonsense forced upon us by "Compassionate Conservatives"….aka as Democrats.

We need to stop listening to folks like Parker, Frum, Krauthammer and the rest of the Democrats who call themselves Republicans. We will never win by being Democrats lite. We will win by having someone at the top of the Republican Party who can actually defend the idea of Freedom. Who doesn’t reach for Government everytime something goes wrong. Who can defend freedom for its own sake. Who revels in the individual…not the State.

We ran Moderate McCain a man who is renowned for his bipartisanship and if he didn’t deliberately THROW the election he ran the most incompetent campaign in the history of politics. Never again a moderate…freedom is not a moderate value. I do not want to be moderately free.

We have seen such men and women before…we need to get rid of the establishment who gave us McCain and find those sorts of folks who gave us those who love Freedom. It is worth defending.

And this idea that government is beholden to the people, that it has no other source of power except the sovereign people, is still the newest and the most unique idea in all the long history of man’s relation to man.

This is the issue of this election: whether we believe in our capacity for self-government or whether we abandon the American revolution and confess that a little intellectual elite in a far-distant capitol can plan our lives for us better than we can plan them ourselves.

You and I are told increasingly we have to choose between a left or right. Well I’d like to suggest there is no such thing as a left or right. There’s only an up or down: [up] man’s old — old-aged dream, the ultimate in individual freedom consistent with law and order, or down to the ant heap of totalitarianism. And regardless of their sincerity, their humanitarian motives, those who would trade our freedom for security have embarked on this downward course.

Moderation….

"I know all the things you do, that you are neither hot nor cold. I wish you were one or the other! But since you are like lukewarm water I will spit you out of my mouth! You say, ‘I am rich. I have everything I want. I don’t need a thing!’ You don’t realize that you are wretched and miserable and poor and blind and naked."

Pierre Legrand

PS to my email. I believe that Governor Sarah Palin has the natural instincts to fit this description. She may not be able to describe it in eloquent terms yet but she does something far more valuable than that…she lives it. No other politician on the national scene understands our craving for freedom as well as Governor Palin. That is why she was attacked by the cynical political handlers around McCain, they cannot stand anyone who shows them for what they are…corrupt and cynical folks who haven’t a clue about freedom.

A Very Interesting Look at the Election…The Left’s Big Blunder

This is very interesting and while it is a long article it is very much worth your time.

The Left’s Big Blunder

The disastrously counter-productive strategy of Obama’s supporters

October 15, 2008

Two campaigns are being waged right now for the presidency of the United States. No, I’m not talking about the Obama campaign and the McCain campaign. I’m talking about the real-world campaign and the meta-campaign.
The real-world campaign involves speeches and proposals and facts and scandals and political positions and news events. These details, however, are becoming increasingly irrelevant, and have become subsumed by the meta-campaign, which consists of perceptions, polls, reactions, analyses and summations. Until very recently, elections were decided by real-world facts — but not anymore. Facts and events in and of themselves are no longer important; what’s important is how everyone reacts to them. And how do we find out the public’s mood concerning this or that incident? Why, the media tells us, that’s how.
Or so we’ve been led to believe.

We’re all part of the campaign now. Every single one of us. Our opinions, our actions, are bundled together as a group and used as weapons in the race for the White House. When the media reports on what people think, either through public-opinion polling or reportage about anecdotal incidents, it becomes an endless feedback loop, in which the media’s representation of most people’s purported thoughts is supposed to influence everyone else’s thoughts. And then they take another poll to determine how effective the first poll was in influencing public opinion, and the cycle starts all over again. Since everyone now knows that any public expression of their political opinions might be reported by the media, even the most innocent activity becomes a calculated campaign action. Saying how you intend to vote is not simply an expression of how you intend to vote, but rather a component of the public barometer of how the majority intends to vote, which is then used by the media and the blogs to influence everyone else. Nothing is done in all innocence anymore.
It’s no longer a matter of dispute that the mainstream media, overall, very strongly leans to the left. Over 90% of journalists classify themselves politically as "liberal" to varying degrees, and innumerable instances of left-wing bias on the part of the media have been pointed out by bloggers over the years. Yes, a small subset of media outlets are identifiably conservative, but they are vastly outnumbered, both in sheer numbers and in influence, by the liberal media. This fact takes on intense importance in an era when the "news" becomes (as it has become) a subjective matter. Nearly any fact or incident can be "spun" to Obama’s benefit.
Obama’s supporters and his official campaign have taken great advantage of this felicitous informational landscape — first, that the meta-campaign trumps reality, and second, that the media is cooperative and complicit. For example, after presidential debates, the leading left-wing blogs always coordinate massive online opinion-poll-stuffing campaigns. After the Palin-Biden vice-presidential debate, the overwhelming consensus on conservative and centrist blogs was that Palin had won handily, and that Biden spoke mostly in a soporific monotone while spewing a continuous stream of easily debunked falsehoods. And yet readers of DailyKos, the Huffington Post, Democratic Underground and dozens of other top left-wing blogs swarmed en masse to vote (often repeatedly) in mainstream online polls about the debate, so that afterward, CNN (among many others) could run headlines that said "57% Think Biden Won Debate," basing their conclusion on the results of the online polls. And once enough of these articles get published, then they themselves become "proof" of the debate’s supposed outcome, and before long (often just a matter of hours) it becomes a "fact" no longer up for discussion that Biden won the debate. This fact is then referenced by pundits, and slips into supposedly neutral news stories.
The illusory quest for conformist decision-making in the 2008 presidential election
Say, for example, that you were an Obama supporter who watched the Vice Presidential debate and felt that Palin had done well and was a more effective debater than Biden — though not well enough to change your mind about voting for the Obama-Biden ticket. Immediately afterward you encounter an online poll, asking you to vote on who won the debate. What do you do? I suspect that most, if not nearly all, Obama supporters would lie and still vote in the poll that Biden had won the debate, even though they felt that Palin had in fact defeated him. But why do so? As an Obama supporter, you still want your candidate to win, so that every action you take should revolve around only one question: Will this help Obama win? Probably unconsciously, people assume without really thinking about why, that if enough people say Biden won the debate, then a general consensus will be reached that Biden did win the debate, and as a result some vague category of Americans who up until that point had not been Obama supporters will change their allegiances and in reality vote for Obama-Biden on election day.
The Obama campaign itself also takes advantage of the sympathetic media to construct a facade of inevitability. The campaign will stage-manage crowds and dictate camera angles so that Obama is seen to not only have overwhelming numbers of fans but the correct demographic proportion of fans; the campaign will coordinate Obama appearances to coincide with rock concerts or other festivals so they can point to the huge crowds who showed up to watch Obama; and the media plays right along.

McCain supporters often complain about this strategy by the Left, going to great pains to point out the poll stuffing, the deceptive photos, the crowd overestimation, the slanted media coverage, and so forth. But should conservatives be so concerned? I propose that McCain supporters should be GLAD this is happening — because the Left is in fact making a disastrous strategic blunder.
A substantial portion of the Left’s strategy during this campaign is to create the perception that as many people as possible are supporting Obama. They strive to not simply show that he has a lot of supporters (which, obviously, he has), but to purposely inflate or exaggerate the numbers in order to make his support seem larger than it really is. The drive to do this seems almost automatic; it is assumed by Obama’s supporters to be the most effective campaign strategy. It’s so automatic that they perhaps are no longer even aware that it is a strategy. But why? What purpose is possibly served by this behavior? Has anyone on the Left ever paused, stepped back, and asked, "Wait a minute — why are we doing this? Are we sure it’s the correct course of action?" Doing everything possible to inflate the perceived support of Democratic candidates has become so de rigueur that the Left has long ago forgotten why they’re even doing it.
This essay examines the underlying faulty assumptions of this strategy — and shows why it’s not only counter-productive, but could backfire disastrously. The Left’s Big Blunder

The Sounds of Silence…how Illegal Immigration is, the Elephant in the Room!

In an otherwise fantastic article about immigration Robert Samuelson stumbles at the finish line. 

Grasping this, our leading politicians engage in a consensual censorship to skip issues that involve distasteful choices or that require deferred gratification. They prefer to assign blame and promise benefits. So elections come and go, there are winners and losers — and our problems fester. RealClearPolitics – Articles – Campaign 2008: The Sounds of Silence

There is a group of folks who are supposed to prevent this sort of collusion. Rush calls them the Drive By Media for a reason though. Reporters covering both candidates should be hammering them on this crucial issue. Smoke them out and make them take stands. Instead we have a bunch of folks who by and large seem to be rooting for whomever they might be covering and because of this they almost have a stake in “their” candidate winning.

Sickening as it may be, it is an indication of just how shallow we have become as a people. We are getting both the press and the politicians we deserve…