Raising the debt ceiling 2.4 trillion- puts another hike in the debt ceiling beyond that of the 2012 election. Not one observant citizen is surprised by that. We cannot pay existing principal. In fact- no attempt has been made to pay down principal. That cannot occur until cuts in spending are made and we can free up money to pay principal. Until then, our government (in essence) has a liar's loan. An interest only loan. Like Countrywide used to make.
The latest round of foolishness here. http://minnesota.publicradio.org/collections/special/columns/polinaut/archive/2011/05/debt_ceiling_vo.shtml
That reminds me. I need to get some more silver.
Tuesday, May 31, 2011
Chevy Dealers Skimming Tax Credit, Selling Used Volts
Hard to believe that car salesmen would do unscrupulous shit like stealing 7500 dollar tax credits and then selling Chevy Volts as used. At full bore retail.
The disaster that is Government Motors and their flagship Chevy Volt just never seems to end. The world's most over priced P.O.S. car now being used to fleece taxpayers. Let the government run any kind of business and they can find a way to snatch defeat from the jaws of victory- every time. Head shaking at the link. http://www.leftcoastrebel.com/2011/05/investigation-finds-chevy-volt-tax.html
The disaster that is Government Motors and their flagship Chevy Volt just never seems to end. The world's most over priced P.O.S. car now being used to fleece taxpayers. Let the government run any kind of business and they can find a way to snatch defeat from the jaws of victory- every time. Head shaking at the link. http://www.leftcoastrebel.com/2011/05/investigation-finds-chevy-volt-tax.html
Can We Haz June Now?
I've been waiting for the end of June for at least 8 months. That is when the FED runs out of free money (permanent open market operations, 600 billion) to give the primary dealers and banks. At that point, the end of June, somebody is going to have to buy equities and buy our trillions of refinanced debt. Just to keep our markets afloat.
So just who is gonna buy a stock market that is 5000 points too high already and who is going to buy our treasury debt?
Could it be a glowing Japan with their 200% debt levels? Will it be the UK and their austerity and debt levels? Will it be a retracting China who wants the Yuan to be the reserve currency? Answer- None of the above. Nobody with half a brain would buy the debt of a bankrupt country that is yielding a whopping 3%. Especially when most of the countries that generally buy that debt are as bankrupt as we are. The two countries with relatively strong economies, India and China, really don't have much incentive to help us out.
The "economists" and Ben Bernanke say our economy can float on it's own. Bet me. Here's another deep thinker...drinking the FED's kool aid. I just have to embed this snip, so I can remember this JP Morgan forecaster in a few months when they roll out QE3 and silver ratchets up to 75 bucks an oz.
QE3?
Our answer is: no. We think it is very, very unlikely. In a nutshell, we don't think the inflation or inflation expectations data are near the point where the Fed would consider further large-scale asset purchases, and even if the inflation data were to start to move in that direction the potential political fall-out is so great that the Fed would be extremely reluctant to purchase more assets.
Get a load of that last line. Purchase assets. That's rich.
So just who is gonna buy a stock market that is 5000 points too high already and who is going to buy our treasury debt?
Could it be a glowing Japan with their 200% debt levels? Will it be the UK and their austerity and debt levels? Will it be a retracting China who wants the Yuan to be the reserve currency? Answer- None of the above. Nobody with half a brain would buy the debt of a bankrupt country that is yielding a whopping 3%. Especially when most of the countries that generally buy that debt are as bankrupt as we are. The two countries with relatively strong economies, India and China, really don't have much incentive to help us out.
The "economists" and Ben Bernanke say our economy can float on it's own. Bet me. Here's another deep thinker...drinking the FED's kool aid. I just have to embed this snip, so I can remember this JP Morgan forecaster in a few months when they roll out QE3 and silver ratchets up to 75 bucks an oz.
QE3?
Our answer is: no. We think it is very, very unlikely. In a nutshell, we don't think the inflation or inflation expectations data are near the point where the Fed would consider further large-scale asset purchases, and even if the inflation data were to start to move in that direction the potential political fall-out is so great that the Fed would be extremely reluctant to purchase more assets.
Get a load of that last line. Purchase assets. That's rich.
Monday, May 30, 2011
Big Pharma and Jimmy the Pot Dealer
Last night, I was watching television when an ad came on from one of the big pharmaceutical companies regarding one of the latest new diseases, Peripheral Artery Disease or P.A.D. Here's a link that describes it. http://www.heart.org/HEARTORG/Conditions/More/PeripheralArteryDisease/Peripheral-Artery-Disease_UCM_002082_SubHomePage.jsp
Ten years ago, I had never heard of P.A.D. Basically, P.A.D. is just another symptom of aging. So why has it become such a big deal now? Well, because big pharma found a drug for it, that's why. They are marketing it directly to you and instilling some new found fear.
I have often thought that the only difference between legal and illegal drug dealers is the government and the FDA. Illegal drugs tend to be more dangerous- although many legal drugs like Phen-Phen have killed thousands of people prematurely and every week there seems to be a new class action lawsuit versus various prescription drugs advertised on television.
Illegal drug dealers make gobs of money with profits margins well beyond 1000% percent. They market their drugs to unconscious people who have difficulty dealing with life without altering their state of consciousness. Getting people addicted, repeat customers, is the key to the success of illegal drug dealers. The downside risks are jail and death. But apparently those risks are acceptable to people in the illegal drug trade like Jimmy the neighborhood pot dealer.
Big pharma, or the legal drug dealers, also make profit margins well beyond 1000%. Their profit margins are justified by their alleged "research and development" costs. They are given "patent protection" by the government which is just a euphemism for stealing from patients. They have an extensive lobbying network which has been quite successful at convincing lawmakers to enrich their businesses at the expense of patients. They market their drugs to people who fear death and will do anything possible to extend their lives. Big pharma gouges the hell out of people in countries like the U.S. for their drugs, yet sells the same drugs in places like Mexico for 1/10th the price. That way American consumers and health plans can subsidize the health needs of places like Mexico.
What is the difference between being physically addicted to drugs or mentally addicted to drugs? Answer- there is no difference. If you believe you need something to survive you will use it. If a doctor told you that your chances of survival increase greatly with Abraxane, you will most likely use Abraxane. If you are well off and insured, your doctor might not even mention the generic Taxol- which is much cheaper. Ask yourself, why do doctors prescribe expensive drugs like Abraxane when the cheaper and generic drug Taxol is just as effective? Read this...http://www.nytimes.com/2006/10/01/business/yourmoney/01drug.html?pagewanted=print
Although that article is 5 years old, you'll note that over 20,000 people were prescribed Abraxane as opposed to Taxol. It's always about money and ripping off the public legally. If unscrupulous people can find a way to legally steal from people who do not know any better- they do. And in that way...big pharma is no different than your neighborhood pot dealer. Not one bit. One has the blessing of government and the other does not.
I find it absolutely fascinating that the government removed tobacco and alcohol (at least for awhile) from television advertising yet allows big pharma to sell every kind of drug that they can think of. They market directly to people watching TV so that they can run to their physicians and get "hooked" up. Big pharma creates a need or uses fear to sell us everything from sleeping pills, anti depression psychotropics, sexual stimulants, or drugs for P.A.D. Sometimes they just sell us hope.
Should big pharma be allowed to directly market drugs to the public? To reach out to as many people as possible, to create a need in us to buy their product, to addict us or make us repeat customers, and to gouge us for as much money as humanly possible. One method of delivery uses pushers and mules- the other uses pharmaceutical reps and doctors.
In the end I suppose, it's just about choices. I like the reassurance of knowing that the FDA at least tries to keep the consuming public as safe as possible. What I find deplorable is the willingness of big pharma to exploit human frailty and to offer hope of relief as long as you can afford their outrageous prices. There is something very sick about people that would take advantage of the injured and dying in such a way. Or the mentally or emotionally ill. And as much as I have always supported free markets and capitalism- robbing people of their last remaining money at a time in their lives when they may not have the capacity to earn any more money just kind of makes me sick. Or transferring the outrageous costs of prescriptions to our insurance pools and forcing the rest of us to pay. It's just atrocious. Life, I think, should not be contingent on whether you have enough money to keep it.
When I go to the doctor, afraid to die, and he prescribes Abraxane- I don't question it. I don't want to die. Even if it costs me everything I have. That sure as hell doesn't make it right. With Jimmy the neighborhood pot dealer, at least it seems like the stakes aren't so dire and he isn't trying to bankrupt me. I have a choice. For some odd reason, sometimes I have more respect for guys like Jimmy in Oakland Raiders T-shirts than I do for pharmaceutical reps with ties on. Odd, I know.
Ten years ago, I had never heard of P.A.D. Basically, P.A.D. is just another symptom of aging. So why has it become such a big deal now? Well, because big pharma found a drug for it, that's why. They are marketing it directly to you and instilling some new found fear.
I have often thought that the only difference between legal and illegal drug dealers is the government and the FDA. Illegal drugs tend to be more dangerous- although many legal drugs like Phen-Phen have killed thousands of people prematurely and every week there seems to be a new class action lawsuit versus various prescription drugs advertised on television.
Illegal drug dealers make gobs of money with profits margins well beyond 1000% percent. They market their drugs to unconscious people who have difficulty dealing with life without altering their state of consciousness. Getting people addicted, repeat customers, is the key to the success of illegal drug dealers. The downside risks are jail and death. But apparently those risks are acceptable to people in the illegal drug trade like Jimmy the neighborhood pot dealer.
Big pharma, or the legal drug dealers, also make profit margins well beyond 1000%. Their profit margins are justified by their alleged "research and development" costs. They are given "patent protection" by the government which is just a euphemism for stealing from patients. They have an extensive lobbying network which has been quite successful at convincing lawmakers to enrich their businesses at the expense of patients. They market their drugs to people who fear death and will do anything possible to extend their lives. Big pharma gouges the hell out of people in countries like the U.S. for their drugs, yet sells the same drugs in places like Mexico for 1/10th the price. That way American consumers and health plans can subsidize the health needs of places like Mexico.
What is the difference between being physically addicted to drugs or mentally addicted to drugs? Answer- there is no difference. If you believe you need something to survive you will use it. If a doctor told you that your chances of survival increase greatly with Abraxane, you will most likely use Abraxane. If you are well off and insured, your doctor might not even mention the generic Taxol- which is much cheaper. Ask yourself, why do doctors prescribe expensive drugs like Abraxane when the cheaper and generic drug Taxol is just as effective? Read this...http://www.nytimes.com/2006/10/01/business/yourmoney/01drug.html?pagewanted=print
Although that article is 5 years old, you'll note that over 20,000 people were prescribed Abraxane as opposed to Taxol. It's always about money and ripping off the public legally. If unscrupulous people can find a way to legally steal from people who do not know any better- they do. And in that way...big pharma is no different than your neighborhood pot dealer. Not one bit. One has the blessing of government and the other does not.
I find it absolutely fascinating that the government removed tobacco and alcohol (at least for awhile) from television advertising yet allows big pharma to sell every kind of drug that they can think of. They market directly to people watching TV so that they can run to their physicians and get "hooked" up. Big pharma creates a need or uses fear to sell us everything from sleeping pills, anti depression psychotropics, sexual stimulants, or drugs for P.A.D. Sometimes they just sell us hope.
Should big pharma be allowed to directly market drugs to the public? To reach out to as many people as possible, to create a need in us to buy their product, to addict us or make us repeat customers, and to gouge us for as much money as humanly possible. One method of delivery uses pushers and mules- the other uses pharmaceutical reps and doctors.
In the end I suppose, it's just about choices. I like the reassurance of knowing that the FDA at least tries to keep the consuming public as safe as possible. What I find deplorable is the willingness of big pharma to exploit human frailty and to offer hope of relief as long as you can afford their outrageous prices. There is something very sick about people that would take advantage of the injured and dying in such a way. Or the mentally or emotionally ill. And as much as I have always supported free markets and capitalism- robbing people of their last remaining money at a time in their lives when they may not have the capacity to earn any more money just kind of makes me sick. Or transferring the outrageous costs of prescriptions to our insurance pools and forcing the rest of us to pay. It's just atrocious. Life, I think, should not be contingent on whether you have enough money to keep it.
When I go to the doctor, afraid to die, and he prescribes Abraxane- I don't question it. I don't want to die. Even if it costs me everything I have. That sure as hell doesn't make it right. With Jimmy the neighborhood pot dealer, at least it seems like the stakes aren't so dire and he isn't trying to bankrupt me. I have a choice. For some odd reason, sometimes I have more respect for guys like Jimmy in Oakland Raiders T-shirts than I do for pharmaceutical reps with ties on. Odd, I know.
Sunday, May 29, 2011
Obama Ends 15th Vacation in Office, Tours Joplin, Missouri
I've never quite seen anyone like Obama. It's as though he simply doesn't give a shit about anything.
He has played golf well over 50 times, I can't count the number of vacations he takes, his life is like one big party. After wrapping up his European tour, he has finally seen fit to come back to the United States and tour the devastation in Joplin, Missouri. Before they clean it up, that is.
Interestingly enough, Obama had very little support from the Joplin area in his campaign. Don't think for a second he's not aware of that. Surprised that he has decided to grace them with his presence. I am always in awe when an event like the Joplin tornado occurs. Does it ever cross Obama's mind to cut one of his vacations short and at least create the appearance that he cares a little bit about events in the U.S?
Obama calls Joplin a "national tragedy." http://abcnews.go.com/US/president-obama-calls-tornado-ravaged-joplin-missouri-national/story?id=13714380 My idea of a national tragedy occurred when we elected Obama. Three years of wasted time and the fourth is on the horizon.
He has played golf well over 50 times, I can't count the number of vacations he takes, his life is like one big party. After wrapping up his European tour, he has finally seen fit to come back to the United States and tour the devastation in Joplin, Missouri. Before they clean it up, that is.
Interestingly enough, Obama had very little support from the Joplin area in his campaign. Don't think for a second he's not aware of that. Surprised that he has decided to grace them with his presence. I am always in awe when an event like the Joplin tornado occurs. Does it ever cross Obama's mind to cut one of his vacations short and at least create the appearance that he cares a little bit about events in the U.S?
Obama calls Joplin a "national tragedy." http://abcnews.go.com/US/president-obama-calls-tornado-ravaged-joplin-missouri-national/story?id=13714380 My idea of a national tragedy occurred when we elected Obama. Three years of wasted time and the fourth is on the horizon.
Saturday, May 28, 2011
Selling Foodstamps For Tobacco, Alcohol, Drugs, Gambling
Grabbed this piece on food stamps from Doug Ross. Love his site. http://directorblue.blogspot.com/2011/05/exhibit-food-stamp-fraud.html
I have seen estimates anywhere from 40 million to 44 million people using food stamps. That's the kind of great economy we have. About 13 or 14% of all people in this country are receiving food stamps. http://www.reuters.com/article/2010/05/07/us-food-usa-stamps-idUSTRE6465E220100507 A large number of these people are out of work. Many are addicts. I know several of them, at least 50.
Normal people do not understand addicts and alcoholics. They will feed their addiction before they will feed themselves. Addicts will find a way to score whatever they are addicted to. Eating is a secondary concern. They can score food for free. They don't need to use valuable food stamps. That's just how it is. So every week, I have folks on food stamps offering to buy my groceries and sell them back to me for cash at 1/2 price. They need the cash for cigarettes and booze, sometimes drugs. Government subsidized medications, some of them from the Veteran's Administration, are sold as well.
Fraud estimates range from 10 to 25% on the SNAP program. I agree with the high end of those estimates. Interestingly enough, the TBTF Bank-JP Morgan, issues SNAP cards. I've never been able to find out how much government money they receive per card or per reload. With record numbers receiving SNAP cards- it's been worth a look but I'll be damned if I can find it anywhere. I've also heard that Californians have been able to use welfare cards in casinos. http://www.abovetopsecret.com/forum/thread588034/pg1
How many billions have we lost? Who knows? How long can this go on? Until the apathy in this country dissolves and people start demanding some measure of accountability- prosecuting and shit canning those politicians who allow this type of fraud and waste to continue. Maybe we should all just quit paying taxes until we see some reform. Conscientious objectors. What are they going to do? Lock 180 million of us up and try to feed us with no tax revenue? We'll receive a different kind of food subsidy. That one comes with trays, servers, and guards...we don't even have to cook or do dishes. Things to like.
I have seen estimates anywhere from 40 million to 44 million people using food stamps. That's the kind of great economy we have. About 13 or 14% of all people in this country are receiving food stamps. http://www.reuters.com/article/2010/05/07/us-food-usa-stamps-idUSTRE6465E220100507 A large number of these people are out of work. Many are addicts. I know several of them, at least 50.
Normal people do not understand addicts and alcoholics. They will feed their addiction before they will feed themselves. Addicts will find a way to score whatever they are addicted to. Eating is a secondary concern. They can score food for free. They don't need to use valuable food stamps. That's just how it is. So every week, I have folks on food stamps offering to buy my groceries and sell them back to me for cash at 1/2 price. They need the cash for cigarettes and booze, sometimes drugs. Government subsidized medications, some of them from the Veteran's Administration, are sold as well.
Fraud estimates range from 10 to 25% on the SNAP program. I agree with the high end of those estimates. Interestingly enough, the TBTF Bank-JP Morgan, issues SNAP cards. I've never been able to find out how much government money they receive per card or per reload. With record numbers receiving SNAP cards- it's been worth a look but I'll be damned if I can find it anywhere. I've also heard that Californians have been able to use welfare cards in casinos. http://www.abovetopsecret.com/forum/thread588034/pg1
How many billions have we lost? Who knows? How long can this go on? Until the apathy in this country dissolves and people start demanding some measure of accountability- prosecuting and shit canning those politicians who allow this type of fraud and waste to continue. Maybe we should all just quit paying taxes until we see some reform. Conscientious objectors. What are they going to do? Lock 180 million of us up and try to feed us with no tax revenue? We'll receive a different kind of food subsidy. That one comes with trays, servers, and guards...we don't even have to cook or do dishes. Things to like.
Thursday, May 26, 2011
The Economic Truth Is Starting To Leak Out
I love reading ZeroHedge. It is the only site that tells the real or opposing truth about our economy. It's not that everything they say is true, but it's a hell of a lot more accurate and detailed than that garbage that corporate America spews out.
So today, on the heels of some really terrible numbers over the last two weeks, like car sales and durable goods...GDP was revised down to 1.8% for the first quarter and unemployment claims once again shot beyond 400k.
Zero Hedge told it like it was. Corporate America, ala CNN, minimizes all bad news. This fluff is passed on as "journalism." The CNN headline today reads "Economy Faces Headwinds." Good gawd.
If the dollar drops to zero, they'll say the new fantastic exchange rate will lead to huge exports. The media is absolutely scandalous- they don't just put lipstick on pigs- they do extreme makeovers on swine.
So today, on the heels of some really terrible numbers over the last two weeks, like car sales and durable goods...GDP was revised down to 1.8% for the first quarter and unemployment claims once again shot beyond 400k.
Zero Hedge told it like it was. Corporate America, ala CNN, minimizes all bad news. This fluff is passed on as "journalism." The CNN headline today reads "Economy Faces Headwinds." Good gawd.
If the dollar drops to zero, they'll say the new fantastic exchange rate will lead to huge exports. The media is absolutely scandalous- they don't just put lipstick on pigs- they do extreme makeovers on swine.
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