Well, after juggling around so many figures that I couldn't keep track of them all- the morons in Washington finally settled on 39 billion in cuts. For this year's budget. The same year (2011) that has a predicted 1.65 trillion shortfall in revenue.
Now if the tax/revenue shortfall gets adjusted to 1.70 trillion, guess what? The new figure will eclipse all of the gains made by this alleged "wrangling" between parties. The 38 billion is so irrelevant in the big scheme of things that it is truly just a piss in the ocean. If Bernanke raises interest rates by a nominal .25%, we will spend more money refinancing treasuries in one year than we saved in all of that political theater this week.
Remember the Republican's original 100 billion dollar cuts? Yea. Couldn't even manage 1/2 of that. No shortage of cowards in DC.
http://www.zerohedge.com/article/government-shutdown-battle-over-now-real-soap-opera-ratings-war-begins
Thank gawd it's finally over. http://www.nydailynews.com/news/politics/2011/04/09/2011-04-09_tea_party_members_michele_bachmann_rand_paul_blast_budget_deal_as_john_boehner_c.html
Saturday, April 9, 2011
Friday, April 8, 2011
Captain Bullshit
I remember Alan Simpson's arrogant remarks a few weeks ago. One of my homeboys went to town on him. Hat tip to my uncle Lynn!
THIS SENIOR CITIZEN NAILED IT!!!!!!!!!!!!!!
Alan Simpson, Senator from Wyoming, Co-Chair of Obama's deficit
commission, calls senior citizens the Greediest Generation as he
compared "Social Security" to a Milk Cow with 310 million teats.
August, 2010.
Here's a response in a letter from a unknown fellow in Montana....
I think he is a little ticked off! He also tells it like it is ! ----------------------------------------------------------------------------------------------------------------------------
"Hey Alan, let's get a few things straight..
1. As a career politician, you have been on the public dole for FIFTY
YEARS.
2.. I have been paying Social Security taxes for 48 YEARS (since I was 15
years old. I am now 63).
3 My Social Security payments, and those of millions of other
Americans, were safely tucked away in an interest bearing account for
decades until you political pukes decided to raid the account and give
OUR money to a bunch of zero ambition losers in return for votes, thus
bankrupting the system and turning Social Security into a Ponzi scheme
that would have made Bernie Madoff proud.
4. Recently, just like Lucy & Charlie Brown, you and your ilk pulled the
proverbial football away from millions of American seniors nearing
retirement and moved the goalposts for full retirement from age 65 to
age 67. NOW, you and your shill commission is proposing to move the
goalposts YET AGAIN.
5 I, and millions of other Americans, have been paying into Medicare
from Day One, and now you morons propose to change the rules of the
game. Why? Because you idiots mismanaged other parts of the economy
to such an extent that you need to steal money from Medicare to pay
the bills.
6. I, and millions of other Americans, have been paying income taxes our
entire lives, and now you propose to increase our taxes yet again. Why?
Because you incompetent bastards spent our money so profligately that
you just kept on spending even after you ran out of money. Now, you come
to the American taxpayers and say you need more to pay off YOUR debt.
~~~~~~~~~~~~~~~~~~
THIS SENIOR CITIZEN NAILED IT!!!!!!!!!!!!!!
Alan Simpson, Senator from Wyoming, Co-Chair of Obama's deficit
commission, calls senior citizens the Greediest Generation as he
compared "Social Security" to a Milk Cow with 310 million teats.
August, 2010.
Here's a response in a letter from a unknown fellow in Montana....
I think he is a little ticked off! He also tells it like it is ! ----------------------------------------------------------------------------------------------------------------------------
"Hey Alan, let's get a few things straight..
1. As a career politician, you have been on the public dole for FIFTY
YEARS.
2.. I have been paying Social Security taxes for 48 YEARS (since I was 15
years old. I am now 63).
3 My Social Security payments, and those of millions of other
Americans, were safely tucked away in an interest bearing account for
decades until you political pukes decided to raid the account and give
OUR money to a bunch of zero ambition losers in return for votes, thus
bankrupting the system and turning Social Security into a Ponzi scheme
that would have made Bernie Madoff proud.
4. Recently, just like Lucy & Charlie Brown, you and your ilk pulled the
proverbial football away from millions of American seniors nearing
retirement and moved the goalposts for full retirement from age 65 to
age 67. NOW, you and your shill commission is proposing to move the
goalposts YET AGAIN.
5 I, and millions of other Americans, have been paying into Medicare
from Day One, and now you morons propose to change the rules of the
game. Why? Because you idiots mismanaged other parts of the economy
to such an extent that you need to steal money from Medicare to pay
the bills.
6. I, and millions of other Americans, have been paying income taxes our
entire lives, and now you propose to increase our taxes yet again. Why?
Because you incompetent bastards spent our money so profligately that
you just kept on spending even after you ran out of money. Now, you come
to the American taxpayers and say you need more to pay off YOUR debt.
~~~~~~~~~~~~~~~~~~
To add insult to injury, you label us "greedy" for calling "bullshit" on
your incompetence. Well, Captain Bullshit, I have a few questions for
YOU.
1. How much money have you earned from the American taxpayers during
your pathetic 50-year political career?
2. At what age did you retire from your pathetic political career, and
how much are you receiving in annual retirement benefits from the
American taxpayers?
3. How much do you pay for YOUR government provided health insurance?
4. What cuts in YOUR retirement and healthcare benefits are you
proposing in your disgusting deficit reduction proposal, or, as usual,
have you exempted yourself and your political cronies?
It is you, Captain Bullshit, and your political co-conspirators called
your incompetence. Well, Captain Bullshit, I have a few questions for
YOU.
1. How much money have you earned from the American taxpayers during
your pathetic 50-year political career?
2. At what age did you retire from your pathetic political career, and
how much are you receiving in annual retirement benefits from the
American taxpayers?
3. How much do you pay for YOUR government provided health insurance?
4. What cuts in YOUR retirement and healthcare benefits are you
proposing in your disgusting deficit reduction proposal, or, as usual,
have you exempted yourself and your political cronies?
It is you, Captain Bullshit, and your political co-conspirators called
Congress who are the "greedy" ones. It is you and your fellow nutcases
who have bankrupted America and stolen the American dream from
millions of loyal, patriotic taxpayers. And for what? Votes. That's right,
sir. You and yours have bankrupted America for the sole purpose of
advancing your pathetic political careers. You know it, we know it, and
you know that we know it.
And you can take that to the bank, you miserable son of a bitch.
And you can take that to the bank, you miserable son of a bitch.
If you like the way things are in America, delete this. If you agree with
what a fellow Montana citizen says, PASS IT ON!!!!
Forty Grand For Obama?
Fundraising dinner in San Francisco. Obama promises to talk to each donor individually. The price? Just 38,500. Limit- 60 guests. http://www.newsmax.com/InsideCover/Obama-dinner-fundraiser-38/2011/04/07/id/392167?s=al&promo_code=C0BC-1
Why in the hell would anyone want to pay the narcissist-in-chief to talk? We have gotten 3 years worth of free speech from this clown. In fact, I'd like to see him exercise his right to remain silent. Shit. I might give him 38,500 to STFU.
I have a picture of me shaking the dark lord Cheney's hand. Blood soaked tie and all. Free. Priceless.
So it begins. Great.
Why in the hell would anyone want to pay the narcissist-in-chief to talk? We have gotten 3 years worth of free speech from this clown. In fact, I'd like to see him exercise his right to remain silent. Shit. I might give him 38,500 to STFU.
I have a picture of me shaking the dark lord Cheney's hand. Blood soaked tie and all. Free. Priceless.
So it begins. Great.
Welcome to Fabulous Friday! Let's Get Short! Woohoo!
What a wonderful day! The fruits of the world's central banks are starting to pay off. Oil is going parabolic with no corresponding supply problem- the dollar is trading sub 75 as I write this- Portugal is completely bankrupt- we have no budget deal- gold and silver had a fantastic run today. In fact silver shot through 40 and is on the verge of cracking 41.00 after hours.
I think Ben Bernanke is toast. I think he will be canned in the next 12-14 months. I believe that. In fact I think that there is a better than average chance he gets the hook before the end of the year.
I believe that Bernanke's efforts have not had a fucking thing to do with the United States economy. I believe that the 9 trillion that the FED loaned member banks (and was forced to disclose) in 2008 tells the story. The world's bankers are bankrupt. All of these bailouts, cash for clunkers, mortgage subsidies, QE1, QE2, POMO, and fantasy accounting methods are all just schemes designed to try and get bankers' balance sheets back in black. I don't think Bernanke gives a rats ass about anything else. Pure and simple. And if he acknowledges inflation- that means the FED will have to jack up interest rates. Jack up rates and suddenly- all of that treasury/debt refinancing is going to cause our debt levels to go supernova. Right before Obama's big re-election run.
We've seen Obama's brand of loyalty. Narcissists cannot take blame, ever. That is not in their DNA. Go ahead and scroll your memory banks. Ask yourself if Obama- has ever once- admitted to screwing anything up. It's always someone else's fault, isn't it?
You heard it here first. Bernanke is toast. He will be gone before the 2012 election because Obama will sacrifice him. By that time, everyone will be calling for his head including Joe Bob in Arkansas who is paying 150 bucks to put fuel in his Chevy pickup. Not that it matters- we'll just get another FED lackey like that Chicago Fed stooge or Jamie Dimon.
I read an article on the web today telling people to take some silver profits here. I'm not going to do that. I have the utmost confidence that Bernanke cannot change course nor can he acknowledge inflation. He calls it "transitory." He has to. He is dead money and he knows it. So do I. I am still banking that silver doubles from here and that inflation will get far worse before it gets better.
Anyway, things are coming together just as predicted. It's about time to get short the stock market. The POMO ramp ends in two months, there are no shorts waiting to cover, and every dollar that can commit has already been committed. We are going to have some fabulous Fridays all the way through this summer. On the short side.
I think Ben Bernanke is toast. I think he will be canned in the next 12-14 months. I believe that. In fact I think that there is a better than average chance he gets the hook before the end of the year.
I believe that Bernanke's efforts have not had a fucking thing to do with the United States economy. I believe that the 9 trillion that the FED loaned member banks (and was forced to disclose) in 2008 tells the story. The world's bankers are bankrupt. All of these bailouts, cash for clunkers, mortgage subsidies, QE1, QE2, POMO, and fantasy accounting methods are all just schemes designed to try and get bankers' balance sheets back in black. I don't think Bernanke gives a rats ass about anything else. Pure and simple. And if he acknowledges inflation- that means the FED will have to jack up interest rates. Jack up rates and suddenly- all of that treasury/debt refinancing is going to cause our debt levels to go supernova. Right before Obama's big re-election run.
We've seen Obama's brand of loyalty. Narcissists cannot take blame, ever. That is not in their DNA. Go ahead and scroll your memory banks. Ask yourself if Obama- has ever once- admitted to screwing anything up. It's always someone else's fault, isn't it?
You heard it here first. Bernanke is toast. He will be gone before the 2012 election because Obama will sacrifice him. By that time, everyone will be calling for his head including Joe Bob in Arkansas who is paying 150 bucks to put fuel in his Chevy pickup. Not that it matters- we'll just get another FED lackey like that Chicago Fed stooge or Jamie Dimon.
I read an article on the web today telling people to take some silver profits here. I'm not going to do that. I have the utmost confidence that Bernanke cannot change course nor can he acknowledge inflation. He calls it "transitory." He has to. He is dead money and he knows it. So do I. I am still banking that silver doubles from here and that inflation will get far worse before it gets better.
Anyway, things are coming together just as predicted. It's about time to get short the stock market. The POMO ramp ends in two months, there are no shorts waiting to cover, and every dollar that can commit has already been committed. We are going to have some fabulous Fridays all the way through this summer. On the short side.
What Is a Non Essential Government Worker?
Answer- all of them. More budget impasse bullshit.
Some government workers are just more worthless than others. Like Congressmen and golfing Presidents. Here's a guy, we used to call them "tree cops", who thinks the world will go to hell in a hand basket without him. How did we ever manage without forest service workers? http://money.cnn.com/2011/04/07/pf/federal_worker_ron_thatcher/index.htm
Some government workers are just more worthless than others. Like Congressmen and golfing Presidents. Here's a guy, we used to call them "tree cops", who thinks the world will go to hell in a hand basket without him. How did we ever manage without forest service workers? http://money.cnn.com/2011/04/07/pf/federal_worker_ron_thatcher/index.htm
Thursday, April 7, 2011
Ok, FG, I Didn't Buy Any Precious Metals...What Should I Do Now?
Gold is currently cracking the 1460 level and silver is trading around 39.60. Just a few short weeks ago, you could have entered these markets and made a bunch of dough. About 40% in just two months in the silver market. So let's get this out of the way.
If you failed to buy these two metals, at those prices, you are a dumb shit. You should have been reading my blog and paying attention. That's ok. It's a free country and gawd knows you are entitled to be a coward. A wussy. Ha!...all in good fun...
If you missed that rise- what do you do now?
If I had missed this big run up, and thank gawd I didn't, I'd average in here. I still believe silver is worth 100 bucks an ounce and gold is worth 2000 bucks an ounce- perhaps as soon as the end of this year. That ain't a bad rate of return folks. Even if you are a bit late to the party.
Now you might be thinking, FG just wants us all to buy in so that he can get out. The six hundred million or so English speaking/reading nitwits who might stumble onto this blog...are no match for the 3 or 4 billion Chinese, Pac Rim, and Indian people who actually buy physical precious metals. So I am actually counting on short supply, more worthless currency issuance by world central banks, and a bunch of people who don't read this blog to get us where we want to be. Or a failed bond auction or two come July.
If you think a stock market collapse is a possibility, as I do, precious metals will tumble as well. That might be a good entry point. I will be a buyer when that happens. Fundamentally speaking, I have never seen a better investment in my life- given the current and unprecedented fundamentals of a bankrupt world that will eventually seek out precious metals as a safe haven and wealth storage. That underlying fundamental hasn't changed one bit. http://www.zerohedge.com/article/another-day-another-record-high-gold?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
If you failed to buy these two metals, at those prices, you are a dumb shit. You should have been reading my blog and paying attention. That's ok. It's a free country and gawd knows you are entitled to be a coward. A wussy. Ha!...all in good fun...
If you missed that rise- what do you do now?
If I had missed this big run up, and thank gawd I didn't, I'd average in here. I still believe silver is worth 100 bucks an ounce and gold is worth 2000 bucks an ounce- perhaps as soon as the end of this year. That ain't a bad rate of return folks. Even if you are a bit late to the party.
Now you might be thinking, FG just wants us all to buy in so that he can get out. The six hundred million or so English speaking/reading nitwits who might stumble onto this blog...are no match for the 3 or 4 billion Chinese, Pac Rim, and Indian people who actually buy physical precious metals. So I am actually counting on short supply, more worthless currency issuance by world central banks, and a bunch of people who don't read this blog to get us where we want to be. Or a failed bond auction or two come July.
If you think a stock market collapse is a possibility, as I do, precious metals will tumble as well. That might be a good entry point. I will be a buyer when that happens. Fundamentally speaking, I have never seen a better investment in my life- given the current and unprecedented fundamentals of a bankrupt world that will eventually seek out precious metals as a safe haven and wealth storage. That underlying fundamental hasn't changed one bit. http://www.zerohedge.com/article/another-day-another-record-high-gold?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Government Shutdown? Who Cares?
All of this talk about a government shutdown makes for good theater. The truth is, a government shutdown will essentially not effect anyone. Why?
Because there really is no such thing as a government shutdown. It doesn't exist. All they do is close a few parks, give a few IRS agents some time off with back pay, and accumulate back pay for soldiers. Active duty soldiers, covered by the soldiers and sailors act, cannot be hounded by debt collectors.
So essentially, the whole "budget impasse" is just so much hot air. All of this quibbling between political parties is over puny amounts of money and doesn't mean jack shit anyway. Thirty billion or so is about 6 days worth of interest on our 14.3 trillion dollar debt. Go ahead and yawn here.
If there were really a government shutdown- meaning that all government employees were sent to the showers with no back pay accumulating- I'd be all over that. There's a bazillion pieces circulating the intertubes about this "government shutdown." It's BS. I lived through the last one. I didn't even notice.
Here's a similar piece. http://rightwingnews.com/government-waste/the-real-scoop-on-a-government-shutdown/
Because there really is no such thing as a government shutdown. It doesn't exist. All they do is close a few parks, give a few IRS agents some time off with back pay, and accumulate back pay for soldiers. Active duty soldiers, covered by the soldiers and sailors act, cannot be hounded by debt collectors.
So essentially, the whole "budget impasse" is just so much hot air. All of this quibbling between political parties is over puny amounts of money and doesn't mean jack shit anyway. Thirty billion or so is about 6 days worth of interest on our 14.3 trillion dollar debt. Go ahead and yawn here.
If there were really a government shutdown- meaning that all government employees were sent to the showers with no back pay accumulating- I'd be all over that. There's a bazillion pieces circulating the intertubes about this "government shutdown." It's BS. I lived through the last one. I didn't even notice.
Here's a similar piece. http://rightwingnews.com/government-waste/the-real-scoop-on-a-government-shutdown/
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