Friday, January 27, 2012

The Great Barack Obama On Raising The Debt Ceiling, Then and Now

The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.

Senator Barack Obama
Senate Floor Speech on Public Debt
March 16, 2006

NOW...

Obama seeks $1.2 trillion debt ceiling increase

 http://money.cnn.com/2011/12/27/news/economy/obama_debt_ceiling/index.htm

Using a Bar and Alcoholics To Explain Our Economic State of Affairs

Very brilliant. Wish I had thought of it. From ZeroHedge. http://www.zerohedge.com/news/explaining-modern-finance-and-economics-using-booze-and-broke-alcoholics

Death By Chicken McNugget

A 17 year old factory worker?? All she has ever eaten is Chicken McNuggets? Do they teach health in school in Great Britain? Did this girl ever go to school or was she half blinded by malnutrition? Good gawd, this story is so bizarre on so many fronts- I don't know where to start. I think I'll just post it.
http://health.yahoo.net/experts/dayinhealth/chicken-nuggets-how-bad-are-they

Thursday, January 26, 2012

The Next Great American Exodus

In 2007, just as I was wrapping up my career in law enforcement, the health care crisis was in full bloom and I believed that it would be far worse than anyone imagined. People could no longer afford health insurance. Costs had become ridiculous. Healthy people who had lost jobs would not come back to health insurance pools unless they landed jobs with health care. Employers would no longer furnish health care nor subsidize it. Insurance premiums would skyrocket, sometimes in excess of 50% price hikes per year. Ultimately and quite possibly, there may come a day when only the affluent can afford health care. So bankruptcy was the middle and poorer class solution to insurance. That exodus is in full swing.

People have to cut out the things that they cannot afford. Taxes are next. 

The next great exodus is happening now. The dictionary defines exodus as a departure of a large number of people. People are going to quit paying taxes in droves. I believe that. Corporate America, behemoths like GE, quit paying taxes years ago. Here is a link to Obama's tax cheating cabinet and other non tax paying government employees. You'll like this. http://news.investors.com/Article/599002/201201260818/obama-white-house-staff-back-taxes.htm

The rich and elite have been sending their money offshore for decades. Eons it seems. But since the elite essentially run and control government- like Congress- off shore bank accounts were largely ignored. The issue gets brought up every now and then- only because it brings in a few votes and it is politically expedient. Our government is not really serious about imprisoning the elite class for tax evasion. That is the same elite class who write campaign checks and give the politician kids' really nice jobs.

So the rich have been screwing the I.R.S. for years and getting away with it. They can buy good lawyers- if in fact they aren't lawyers themselves. The middle class and the poor are different. They are not greedy money hoarders. They simply don't have any money to hoard. They evade taxes because they have to- not because they want to.

This distinguishes our two classes. Nobody likes a thief- but society tends to tolerate a thief who steals to feed his family. Thieves who steal even though they already have plenty- do not merit the same brand of sympathy or tolerance. That's why the rich become such easy targets especially during campaign season. But I'll let you in on a little secret here- it's all bullshit. If Congress were really serious about reining in wealthy tax cheats- like themselves- they could pass a couple of laws and attach a mandatory 15 year prison sentence.

Mitt Romney's offshore accounts have 32 million in them. http://www.usatoday.com/news/politics/story/2012-01-20/romney-offshore-accounts/52700400/1 How long do you think ol Mitt's been evading taxes?

Let's just see if a prosecutor anywhere, one with a career suicide wish perhaps, brings a charge of tax evasion to Romney's door step. Can you imagine Romney doing a stretch in Leavenworth? That will be a cold day in hell.

So tell me, if corporate America and companies like GE aren't paying taxes, if the rich and elite aren't paying taxes, and the middle and lower classes can't afford to- just who in the hell is going to pay that 16.2 trillion debt we have rung up? Answer- it's not going to happen. They can't even shore up the tax laws enough or in time- in the event of some economic rebound that would generate tax revenue and miraculously land us in the black. Some Deus Ex Machina ending. So it is, the next great exodus has begun. This at precisely the same moment when local, state, and federal governments try to steal more money from citizens. I sure hope the government has plenty of room and resources to prosecute and house the millions of people tax cheats who simply can't pay anymore. Perhaps they will start with those who won't pay. I hear they have health care in prison, so we've got that going for us.

Psychology Major Baffled By the FED, Can't Understand Why Bernanke and Company Are Worried

Yesterday, I watched Fed Chairman Ben Bernanke very closely as he spoke about the economy on CNBC. I noted two incredibly odd things.

Bernanke essentially promised zero interest rates and further money printing, possibly a QE3 event, if the economy goes any softer than it already is. Basically, he soothed viewers. Whether that was entirely politically motivated or not- is anyone's guess. But that's not the really odd thing.

Bernanke appeared to stutter throughout the speech as though- even he didn't believe the BS he was spouting.

The number one fear of most Americans is public speaking. For many people, public speaking is just something that gets easier over time. Professional speakers sharpen deliveries. Perhaps Bernanke didn't like the live stage or live TV yesterday. Maybe he is getting weary of the criticism. Whatever it was- it did not appear that Bernanke was getting more comfortable the longer he spoke- I thought that was very odd. Bernanke just kind of stuttered and stopped throughout the speech. His sentences lacked smooth transitions although I thought his statements were remarkably clear for a front man who has a giant ego and a perfect SAT score. Bernanke promised more FED accommodation for the foreseeable future. Zero interest rates.

I thought gold should have rallied 100 dollars.

Today I was reading this article. The writer has a bachelor's degree in psychology although he has been writing for various money/investing/economic publications for at least 10 or 11 years. Hardly an expert. In fact, anybody could have written this piece. http://money.cnn.com/2012/01/26/news/economy/thebuzz/index.htm

Here is the author, Paul La Monica. http://www.cnnmoneymediakit.com/pressLaMonica.html

I am beginning to think that Bernanke is actually showing signs of having a conscience. I mean at what point, after how many years, do most people finally throw up their hands and tell the truth? When do they finally say, "We're out of tricks. The world has a debt load that we cannot service. Any serious hiccup will bring about financial Armageddon. Sorry, folks. We wrote a check that our asses can't cash."

When does that speech happen? 

Probably never. But you can bet I wasn't the only guy thinking that yesterday, Paul La Monica excluded.

Wednesday, January 25, 2012

Obama's Speaks To An Eighth Grade Level During State of the Union

No wonder the great narcissist thinks he is far superior. He is talking to the middle school. Swiped via the Chicago Boyz. Interesting.

http://ricochet.com/main-feed/To-Obama-We-re-Children.-To-Daniels-We-re-Adults

Left Coast Rebel claims it's the same speech year after year. http://www.leftcoastrebel.com/2012/01/why-pay-speech-writers-when-you-can.html

When a Crisis Occurs, There Is Always One Dipshit Who Jumps Up and Announces "Follow Me, I Know the Solution!"

That person is almost always insane. That is this blog's subtitle.

Today's dipshit is once again, Ben Bernanke. We will print our way out of this mess! Ben on TV singing his usual print money lullaby to the softball press corps. Gold cracking 1708 as he yaks.

I need Ben to talk on TV every day. Maybe get his own show like Cramer. Man, I am gonna be rich.

Bad Ideas, Like Bad Verdicts, Last Forever (Originally Published in March of 2013)

Of all of the stupid things we do, changing our clocks each spring and fall, has to rank near the top. The anarchists of Arizona don't r...