Showing posts from May 8, 2011

The New Age Humpty Dumpty- Citibank

There are a lot of people who think that the entire TARP bailout program targeted Citibank. Personally, I think that's bullshit. I believe TARP was created by Hammering Hank Paulson to funnel money to the mega insurer, AIG. AIG owed billions to Hank's former empire, Goldman Sachs. I imagine a few people like Lord Blankfein were just a little pissed and nervous back in '08. You see, the FED made 9 trillion in loans in late 2008. They really didn't need TARP to bailout their network. They could have just added 700 billion to the 9 trillion they had already loaned.  However, they are not authorized to loan to private insurers...especially private insurers that are going to owe billions of dollars to the banker network. The only way to get banks their money back from an insolvent AIG, was to bail out AIG. Thus the great TARP program was unveiled. They simply converted public dollars to private use. In fact, such acts are generally recognized as criminal behavior in many p

Blogger Back From the Dead

Not quite sure what happened. Blogger went down sometime yesterday, now it is finally up. These sorts of things remind me just how fragile our systems really are. I couldn't use my dashboard to read blogs now getting caught up.

The United States Postal Service, I Hear the Fat Lady Singing

Like all things the government runs, the postal service is a money losing venture. Another black hole. A private corporation with real stockholders and people losing money would immediately shutter such a business. This would move all mail services to some form of electronic delivery. Rather than do anything as drastic as getting rid of an army of now worthless government workers, this government run service will survive for decades and bleed us for the absolute maximum amount of money that it can. It has reached it's 15 billion dollar debt ceiling- but nobody has the balls in government to simply just let it fail and go away.  Lingering, socialized, death. Somewhere, I hear a fat lady singing. Problem is, this tune lasts a very long time...

We Spent All of Our Money On I-Tunes and Shit, We Don't Have Money for Gas

Bring on the food gas stamps. Crude inventories surged 150% to 3900k barrels on expectations of 1500k. Wow. I guess people don't like 4 dollar gas. The CFTC raised margin requirements on speculators after 17 Congressmen whined about high gas and oil prices. They said they can't understand these outrageous prices when demand has all but fallen away. No shit. Interesting that nobody ever mentions that oil is priced in worthless dollars. That might have something to do with it- Washington brainiacs. Hmm...let's see... oh the dollar is up...crude is down... Just had to include this snip from wiki for all of the Canes-Ee-yuns out there. (Keynes) The Moonbats think this shit is gospel. Keynesian economic theory proposes that changes in money supply do not directly affect prices, and that visible inflation is the result of pressures in the economy expressing themselves in prices. If that were true, we might never have heard of currency exchanges, Weimar, or Zimbabwe.

The Thugocracy Finally Nails Someone

This might be racist. Government nabs an Indian hedge fund guy and actually prosecutes him. They let that orange and white guy, Angelo Mozilo, off with some fines. Both men were accused of insider trading. But no prison for Angelo. My only conclusion? This is what happens Raj when you don't give huge campaign contributions to politicians or sweetheart mortgages. Dumb ass. Dude, did you miss that how to avoid criminal prosecution day in Harvard business school? Life just isn't fair.

This Is How Moonbats Think

Desperately clinging to the failed policies that have helped bankrupt our country, the Moonbats are still bitter at the union losses they suffered in Wisconsin. I am not talking about organized labor. I am talking about public unions. A "night and day" distinction. Here is a great link that shows how Moonbats think. This is how Moonbats attack their perceived "enemies" like David Koch. They want to know how many homes he has- like that is relevant to the discussion or provides a solution. In fact, I lost what the subject was and I was forced to go back and read it again. What was your point? Do you hate people with several homes? Or do you just hate successful libertarians with M.I.T. degrees? Answer- all of the above.

It's Ok To Hate Politics But It's Not Ok To Ignore Politics

Our country needs you. We always have. People are starting to wake up and realize that our two party system is irretrievably broken. Imagine getting an odd mole on your back that changes shapes and colors. Perhaps it even bleeds. But you fear hospitals and the possibility of cancer. So rather than get that mole checked out, you ignore it until one day- you get so sick that you are admitted to the hospital. Your doctor tells you that you have inoperable cancer that has spread throughout your body. Your condition was treatable early but now it is terminal. Politicians and our national debt, coupled with a Federal Reserve Bank that knows no bounds or limitations, have become our national cancer. I don't mind people that don't like politics. Especially partisan politics. I'm one of them. But what I really can't stomach are those cowards that not only hate

So Frankie, What's With Silver and Gold?

I love it when my friends give me shit after the silver and gold slaughter of last week. People have a real sadistic side to them... Know this trolls and jackals. I bought more. That's how scared I am. I am really starting to love China. They are starting their own precious metals exchange to compete with the Crimex. So not only does China have an independent and non biased credit rater, Dagong, but now they will have a precious metals exchange that at least initially- will not manipulate free markets by hiking margin 5 times in eight days. Competition. Today's huge rally in precious metals was just a dead cat bounce (over sold) and some short covering. I am not too excited about it. I think we will find a floor in silver from 35-40. Silver and gold can safely be bought at current levels without too much downside risk. Fundamentally, nothing has changed. The debt picture just gets worse and worse because absolutely nobody is paying principal. Not here, not in Europe. Pomo

What's a Couple Thousand Billion?

As it turns out, just enough money to get the country past the next election. A pretty clear signal that nobody has any intention of paying it anyway. Wouldn't you just love a credit card where every time you used 100k on it, the bank just extended you another 200k? You never have to pay the principal. Eternal Christmas. Irving Berlin in my head.  Remember. All debt is either re-paid by the borrower or paid by the lender.

Having Found the Missing 6'5" Saudi, Obama Now Trying to Find Missing 2.3 Trillion

Maybe. More stuff from the nutters. The vid courtesy of Plan B Economics.

Say a Prayer for the Nutters* Updated to Include Iranian Nutters

After President Obama proclaimed that he was lord of the universe- and decided not to "spike the football" by providing proof of Bin Laden's death- I have seen a tremendous rise in internet nutters. So I thought I'd dissect this phenomenon from start to finish. I don't mind nutters. In fact I understand them. Nutters are the by product of a government gone wild. So after nearly ten years, our trillion dollar war effort finally found a 6'5" Saudi with 3 wives and executed him. Rather than show pictures of a dead Bin Laden, we call that proof, the censor in Chief decided not to. Government then told us that we dumped his body into the sea. Then came the nutters. Nutters don't believe anything that the government tells them. They've been lied to for so long that they have given up on any kind of hope of government truth telling. The nutters think Bin Laden was killed years ago. The nutters think Bin Laden's body is in some secret lab somewh