We passed 800 billion to go to a bunch of execs that sit around pushing money around on spreadsheets who thought sub prime mortgages were a good investment. They're even getting bonuses!
The FED is printing and lending trillions of dollars, and not even disclosing where the money is going.
So what's another 15 billion for some automakers who are bloated with corruption, private jets, and unions that have negotiated the sweetest deal in history (for its workers).
Everything is wrong with it. It's time for the government to understand they're making this situation worse with their intervention. The bailout is only creating an environment where success is punished and failure is reinforced with more money, so they can continue to fail.
Government: Get out of the way now. What are you trying to avoid, a recession? Too late. We're in hard times, this country was built on hard times. You can't have good times if you don't have the opportunities created by bad times. Name one country that experienced long term economic growth from government micro-management.
It's time for a little pain and purging. It's going to hurt, a lot. Then there is going to be opportunities like we've never had before. The little guy can't outsmart and outperform the big guy if the government is propping up the big guy with trillions of dollars and calling them too big too fail.
Friday, December 12, 2008
Tuesday, December 9, 2008
The People's Republic of Windows and Doors
You've got to be kidding me.
So this company shut down because Bank of America made a business decision not to keep their line of credit open. The union is demonstrating a "sit-in" because they're not getting the benefits, back vacation etc. owed to them.
Illinois Governor Rod Blagovich said the State would no longer do business with Bank of America until they reinstate the line of credit, allowing the employees to get their benefits/paid vacation time. He claims the bailout money Bank of America received was designed specifically for this purpose.
Yeah... that makes sense. Extend a company credit that's not making any money. Isn't that how we got into this mess? Perhaps now that Governor Blagovich was caught trying to sell the vacant Illinois Senate seat to the highest bidder, he may have other things to worry about than extorting Bank of America.
To the workers at the plant: I'm sorry you lost your job - these are terribly tough times. But if Bank of America is forced to give in and lend money it will never get back, then the slippery slope continues - or maybe we're already off the cliff.
So this company shut down because Bank of America made a business decision not to keep their line of credit open. The union is demonstrating a "sit-in" because they're not getting the benefits, back vacation etc. owed to them.
Illinois Governor Rod Blagovich said the State would no longer do business with Bank of America until they reinstate the line of credit, allowing the employees to get their benefits/paid vacation time. He claims the bailout money Bank of America received was designed specifically for this purpose.
Yeah... that makes sense. Extend a company credit that's not making any money. Isn't that how we got into this mess? Perhaps now that Governor Blagovich was caught trying to sell the vacant Illinois Senate seat to the highest bidder, he may have other things to worry about than extorting Bank of America.
To the workers at the plant: I'm sorry you lost your job - these are terribly tough times. But if Bank of America is forced to give in and lend money it will never get back, then the slippery slope continues - or maybe we're already off the cliff.
Monday, December 8, 2008
Transportation Bailout Scenario
Not too long ago in our history, a major manufacturer of vehicles that were widely used were going out of business. There were many factors such as competition and difficult economic times.
Employees lost their jobs and companies went out of business. It was a pretty sad story for an industry that served so many for so long.
But these companies didn't get a bailout. If they did, we'd all still be driving horses and buggies.
Employees lost their jobs and companies went out of business. It was a pretty sad story for an industry that served so many for so long.
But these companies didn't get a bailout. If they did, we'd all still be driving horses and buggies.
Thursday, November 20, 2008
Grand Theft Election Minneapolis
Granted, you can pick up prostitutes and carjack in the Grand Theft Auto game series, but Grand Theft Election has some pretty great things going for it too.
In GTE, you play Al. Al is a washed up, has been comedian who decides one day he wants to run for the US Senate. He appears to be a good fit, except that more people have been laughing at congressman than have ever laughed at Al's jokes.
At some point in the game after Al loses a close election, Al's election team needs to start challenging individual ballots in an effort to steal the election. Although this is a fictitious game with no reference to actual real life people, here is a good example of what one of those ballots would look like:
You would think it's a pretty difficult game, but there's a number of cheat codes you can plug at the beginning.
These codes put a large percentage of the media behind you regardless of how ridiculous you sound.
I get the feeling these codes also stack the deck with Al leaning judges and election officials, turning Grand Theft Election into an entirely winnable game.
Good thing it's only a game, because if this were to happen in real life it would be a terrible indication of how democracy is being flushed down the toilet and partisan politics is put before Country.
Good thing...
In GTE, you play Al. Al is a washed up, has been comedian who decides one day he wants to run for the US Senate. He appears to be a good fit, except that more people have been laughing at congressman than have ever laughed at Al's jokes.
At some point in the game after Al loses a close election, Al's election team needs to start challenging individual ballots in an effort to steal the election. Although this is a fictitious game with no reference to actual real life people, here is a good example of what one of those ballots would look like:
You would think it's a pretty difficult game, but there's a number of cheat codes you can plug at the beginning.These codes put a large percentage of the media behind you regardless of how ridiculous you sound.
I get the feeling these codes also stack the deck with Al leaning judges and election officials, turning Grand Theft Election into an entirely winnable game.
Good thing it's only a game, because if this were to happen in real life it would be a terrible indication of how democracy is being flushed down the toilet and partisan politics is put before Country.
Good thing...
Tuesday, November 11, 2008
My Bailout's Bigger than yours
Fed Defies Transparency Aim in Refusal to Disclose
Ben: Hey Hank! Good to see you. This round’s on me.
Hank: Oh no, I’m buying – I just got an 800 billion dollar bailout deal.
Ben: Wow, look at you. Not bad for a cabinet member. But you can’t compete against the Fed.
Hank: No? How are you going to top 800 billion?
Ben: Try 2 trills.
Hank: Yeah right. I watched C-Span all month, not a single mention of giving 2 trillion to the Fed.
Ben: Yep, that’s the best part. No congressional oversight, no vote.
Hank (staring incredulously): You’re serious aren’t you? Do you realize I had to get on my knees in front of Nancy just to get 800 billion, and you more than double that?
Ben: That was great, I still have that picture in my phone. And it’s 2.5 times more, to be precise.
Hank: Two trillion? Where’d you get that kind of cash? They’re talking about massive tax hikes just for mine.
Ben: Easy, I just print the money. I got a great deal on a high speed color laser printer. I printed 50 billion last night for an auto company, it only jammed once!
Hank: Sweet. And no tax hike.
Ben: Yep, just mass inflation. Just think, this beer you’re drinking will probably cost about $900 at some point. It'll resolve the mortgage crisis too, since $500,000 won't even buy an SUV at the rate I'm printing.
Hank: Who are you lending it to?
Ben: That’s another thing, I don’t have to say.
Hank: This is too good to be true! But you can tell me, right?
Ben: I can but…
Hank: C’mon Ben. Remember that press conference when that reporter asked me if the Federal government could make money from this deal, and you were in the back trying to get me to laugh? You owe me!
Ben: Alright, next time.
Hank: Fine, I gotta go anyway.
Ben: Where to?
Hank: I need to wash Nancy’s car.
The above was a fictional satire. Any references to names, numbers, and economic situations are purely coincidental.
Ben: Hey Hank! Good to see you. This round’s on me.
Hank: Oh no, I’m buying – I just got an 800 billion dollar bailout deal.
Ben: Wow, look at you. Not bad for a cabinet member. But you can’t compete against the Fed.
Hank: No? How are you going to top 800 billion?
Ben: Try 2 trills.
Hank: Yeah right. I watched C-Span all month, not a single mention of giving 2 trillion to the Fed.
Ben: Yep, that’s the best part. No congressional oversight, no vote.
Hank (staring incredulously): You’re serious aren’t you? Do you realize I had to get on my knees in front of Nancy just to get 800 billion, and you more than double that?
Ben: That was great, I still have that picture in my phone. And it’s 2.5 times more, to be precise.
Hank: Two trillion? Where’d you get that kind of cash? They’re talking about massive tax hikes just for mine.
Ben: Easy, I just print the money. I got a great deal on a high speed color laser printer. I printed 50 billion last night for an auto company, it only jammed once!
Hank: Sweet. And no tax hike.
Ben: Yep, just mass inflation. Just think, this beer you’re drinking will probably cost about $900 at some point. It'll resolve the mortgage crisis too, since $500,000 won't even buy an SUV at the rate I'm printing.
Hank: Who are you lending it to?
Ben: That’s another thing, I don’t have to say.
Hank: This is too good to be true! But you can tell me, right?
Ben: I can but…
Hank: C’mon Ben. Remember that press conference when that reporter asked me if the Federal government could make money from this deal, and you were in the back trying to get me to laugh? You owe me!
Ben: Alright, next time.
Hank: Fine, I gotta go anyway.
Ben: Where to?
Hank: I need to wash Nancy’s car.
The above was a fictional satire. Any references to names, numbers, and economic situations are purely coincidental.
Wednesday, October 29, 2008
Timeline of a Cover Up
April 10, 2008: LA Times publishes Allies of Palestinians see a friend in Barack Obama. This story goes over the going away party of Rashid Khalidi, a Palestinian scholar (and dinner companion of Barack Obama) whose comments critical comments on Israel over the years have stirred various contreversies.
During this going away party, according to the LA Times story, poetry was read accusing Israel of terrorism, while others compared "Zionist settlers" to Osama Bin Laden. To put it plainly, there was plenty of Jew bashing going on that night.
On the second page of this story, the LA Times writes "The Event was videotaped, and a copy of the tape was obtained by The Times". No mention of a confidential source.
From October 24 to 28, there are multiple stories of various news agencies requesting a copy of this tape. All requests were denied without any mention of a confidential source.
On October 28, Ben Smith of Politico, gave the times the benefit of the doubt as he wrote:
Critics have suggested that the Times is witholding the video for political reasons, but there are other possibilities: competitive reasons, or simply out of tradition. In the mechanics of reporting, there's another possibility as well. The video may have been given to the paper on the condition it not be released, or releasing it could compromise its source.
This is the first mention of a confidential source, speculated by a reporter from a different news agency.
October 29: The Times makes a first mention that the tape was obtained from a confidential source on the condition it would not be released. The story actually says this was originally mentioned on the 28th, but after a thorough search I did not find any mention of this prior to the 29th. Hopefully The Times will send Mr. Smith a thank you card for inadvertently providing the idea of a confidential source.
Calling this BS is an understatement. Let's see the tape, because I'm sure if this had John McCain (or Sarah Palin) on it, it would have been out on the front pages back in April.
During this going away party, according to the LA Times story, poetry was read accusing Israel of terrorism, while others compared "Zionist settlers" to Osama Bin Laden. To put it plainly, there was plenty of Jew bashing going on that night.
On the second page of this story, the LA Times writes "The Event was videotaped, and a copy of the tape was obtained by The Times". No mention of a confidential source.
From October 24 to 28, there are multiple stories of various news agencies requesting a copy of this tape. All requests were denied without any mention of a confidential source.
On October 28, Ben Smith of Politico, gave the times the benefit of the doubt as he wrote:
Critics have suggested that the Times is witholding the video for political reasons, but there are other possibilities: competitive reasons, or simply out of tradition. In the mechanics of reporting, there's another possibility as well. The video may have been given to the paper on the condition it not be released, or releasing it could compromise its source.
This is the first mention of a confidential source, speculated by a reporter from a different news agency.
October 29: The Times makes a first mention that the tape was obtained from a confidential source on the condition it would not be released. The story actually says this was originally mentioned on the 28th, but after a thorough search I did not find any mention of this prior to the 29th. Hopefully The Times will send Mr. Smith a thank you card for inadvertently providing the idea of a confidential source.
Calling this BS is an understatement. Let's see the tape, because I'm sure if this had John McCain (or Sarah Palin) on it, it would have been out on the front pages back in April.
Friday, October 17, 2008
The Next 18 Days for Joe the Plumber
Earlier this week Joe Six Pack from Main Street transformed from a mythical symbol into Joe Wurzelbacher, a plumber from Ohio. The only “surprise” is that Joe didn’t have a man-crush on Obama like the media does, and certainly wasn’t chanting change and hope.
“Your new tax plan is going to tax me more isn’t it?”
Those twelve words, followed by Obama’s response of spreading the wealth may have a greater impact on this election as the Ponytail Guy did in 1992 (GHW Bush vs. BJ Clinton) when he asked the presidential candidates to “treat us as your children” and to promise to “meet our needs.”
Rather than try to argue ideology and attempt to explain why Obama feels that taxing certain economic levels is necessary, the media and the Obama Campaign is going to go after this guy. Until Election Day (and who knows how much longer) Joe is going to be called a Republic plant. They’re going to question his plumbing licenses and tax returns. If they can, they’ll bring out unhappy ex-girlfriends from high school or anything else they can do to turn Joe the Plumber into some monster who us peasants on Main Street can’t relate to.
But behind all of this vilifying, the truth is still there. Obama wants to take money from those who earned it, and give it to those who haven’t. He’s using this fictitious number of $250,000 as a point of envy, so those of us making 30k, 50k, or 100k look up to those mean rich people making 250,000 and say “yeah, they should pay up more”.
Let’s not fall for it. No one is going to prosper by punishing those with wealth. Economies grow when jobs are created, not when money is transferred from one party to another without the exchange goods or services in return. Economies grow when the government gets out of the way of people trying to succeed.
Thanks Joe, I hope I’m wrong about their plans for you.
“Your new tax plan is going to tax me more isn’t it?”
Those twelve words, followed by Obama’s response of spreading the wealth may have a greater impact on this election as the Ponytail Guy did in 1992 (GHW Bush vs. BJ Clinton) when he asked the presidential candidates to “treat us as your children” and to promise to “meet our needs.”
Rather than try to argue ideology and attempt to explain why Obama feels that taxing certain economic levels is necessary, the media and the Obama Campaign is going to go after this guy. Until Election Day (and who knows how much longer) Joe is going to be called a Republic plant. They’re going to question his plumbing licenses and tax returns. If they can, they’ll bring out unhappy ex-girlfriends from high school or anything else they can do to turn Joe the Plumber into some monster who us peasants on Main Street can’t relate to.
But behind all of this vilifying, the truth is still there. Obama wants to take money from those who earned it, and give it to those who haven’t. He’s using this fictitious number of $250,000 as a point of envy, so those of us making 30k, 50k, or 100k look up to those mean rich people making 250,000 and say “yeah, they should pay up more”.
Let’s not fall for it. No one is going to prosper by punishing those with wealth. Economies grow when jobs are created, not when money is transferred from one party to another without the exchange goods or services in return. Economies grow when the government gets out of the way of people trying to succeed.
Thanks Joe, I hope I’m wrong about their plans for you.
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