Wednesday, March 31, 2010

You can't make this stuff up..........

The bought and paid for shills for the gangsters running the banking industry are going to reform the system by giving the gang who got us into this mess, the FED, power to to screw us right next time.

Robert Kuttner: Next, Banking Reform
The Dodd bill that will come before the full Senate later this spring is slightly worse in some respects, slightly better in others. The bill does include a version of Obama's call to restore the Glass-Steagall wall between commercial and investment banking (the "Volcker Rule"); but where the House bill created an independent consumer financial protection agency, the Dodd bill places this new agency, of all places, in the Federal Reserve. It was the Fed's total failure to enforce consumer protections on the books that invited the abuses that caused the collapse.

Monday, March 29, 2010

Duh! Home sales suck.....

How many future home buyers have jobs and credit. Most banks are screwed by the fast buck artists and broke dicks not making payments. Why are these people surprised the government is going to have to buy down all these shit loans and probably evict a bunch of voters.

I know several people who haven't made a house payment in years. Nice racket if you can keep it. Of course we will all end up paying for all these scams and for all these deadbeats, but what else is new.

Of course we can't get any  improvement until jobs comeback and most people finish paying off the past debt. Those of us with jobs and credit will be able to pick and choose during the coming boom. Might as well get it while the getting is good as it won't last long.  Housing is not affordable to the average working stiff but that will change.  (Think manufactured as in Mobile homes.)
Right now the only way most people  can buy is with handouts and mortgage gimmicks. Even the crooks in Washington will run out of  schemes then it will get interesting.

I figure the boom hits in 6 or 8 months as all that printing press money hits the construction industry as the Dems need to pay off the unions very soon and keep their jobs.

After all that's what politics is all about.

On the home front I'm subscribing to a credit watch at Equifax as I'm gearing up for the future. I didn't do it during the last boom and couldn't get the credit I needed to stay in business. As soon as my truck broke down I was fucked. And being in business is the only way to beat the coming taxes and regulations that are coming. Of course, if we get a bigger bust I can max out and retire to Mexico, heh heh.

Housing and Real Estate: New Home Sales Show Market Continues to Struggle - CNBC
The Commerce Department said on Wednesday sales of new single-family homes fell 2.2 percent to a 308,000 unit annual rate from 315,000 units in January. Markets had expected sales to edge up to a 320,000 unit annual pace.

In a second report, the department said orders for long-lasting manufactured goods rose 0.5 percent in February, rising for the third straight month, and January's figures were revised sharply upward to show a 3.9 percent increase.

Markets had expected orders to gain 0.7 percent in February from the previously reported 2.6 percent rise. U.S. stock indexes slipped slightly on the housing report, while Treasury debt prices were steady at lower levels. The U.S. dollar was unchanged.

Saturday, March 27, 2010

Who says crime doesn't pay?....

These crooks bought Wamu for a song and raised my interest rate on my credit card from 12% to 29%. And they keep it there even though my credit score has topped 750. As long as they don't put a yearly fee on it  I'll keep it open but they ain't getting a dime out of me.

Especially when other companies are making cards available again. (the only positive sign in the economy we've seen in a couple of years.)

AllGov - News - JPMorgan Chase May Get Billion-Dollar Tax Refund to Offset Recession Losses
PMorgan Chase & Co. may enjoy two helpings of tax relief thanks to a little publicized stimulus provision that permits banks and businesses to apply loses from 2008 or 2009 against taxes paid in the previous five years. This break could mean a tax refund of $1.4 billion based on JPMorgan’s own operation, plus more than half of the $2.6 billion due to Washington Mutual, which it took over after WaMu’s collapse.

Friday, March 26, 2010

Another dose of truth..

Pretty obvious that sending 20 dollar an hour jobs overseas is not a good idea unless your profiting from it. Toyota's closing down plants here and will send them overseas because Oba mama's gang is trumping up some relatively minor problem  (supposedly peoples cars are accelerating by themselves and these college grads can't turn off the key or put the car in neutral.)

Must be Toyota's fault that Ford recalls a million or so vehicles, including a recall last year of my 10 year old truck.

The media and the whores in government motors didn't tell you that did they?

Paul Craig Roberts: Good-Bye
Truth is inconvenient for ideologues.

Today many whose goal once was the discovery of truth are now paid handsomely to hide it. “Free market economists” are paid to sell offshoring to the American people. High-productivity, high value-added American jobs are denigrated as dirty, old industrial jobs. Relicts from long ago, we are best shed of them. Their place has been taken by “the New Economy,” a mythical economy that allegedly consists of high-tech white collar jobs in which Americans innovate and finance activities that occur offshore. All Americans need in order to participate in this “new economy” are finance degrees from Ivy League universities, and then they will work on Wall Street at million dollar jobs.

Economists who were once respectable took money to contribute to this myth of “the New Economy.”

Thursday, March 25, 2010

makes you wonder, doesn't it?.....

Just what are the other 21% are smoking?

Fox Poll: 79% Fear Economic Collapse | Ron Paul 2012 | Campaign for Liberty at the Daily Paul
A Fox News poll revealed Tuesday that most American voters believe it’s possible the nation’s economy could collapse, and majorities don’t think elected officials in Washington have ideas for fixing it.

The poll finds that 79 percent of voters think it’s possible the economy could collapse, including large majorities of Democrats (72 percent), Republicans (84 percent), and independents (80 percent).

And just 18 percent think the economy is "so big and strong it could never collapse."

Voters are clearly concerned with rising deficits and massive government spending places like the new healthcare overhaul.

Tuesday, March 23, 2010

Time for another tax break....

The last one, buyers credit, expires next month. Obviously didn't amount to much. Need to give the credit to anyone not just new buyers and people who haven't bought in 5 years. I might consider buying a place in Florida if they do.

By the way, something interesting going on with the FICO scoring system. After 3 years of using my credit card my score went from 580 too  over 750. It doesn't hurt to have a job for 3 years but they didn't no that .Now every fucking bank on the planet is offering me credit cards. I finally took couple. The last is from Simmons bank at 7.4%.

 (Hey they forced me too.)

Now if I can borrow a couple of million from these gangsters I would be blogging from Brazil. Heh heh.

U.S. existing-home sales fall 3rd month in row - MarketWatch
WASHINGTON (MarketWatch) - Resales of U.S. homes and condos fell 0.6% in February to a seasonally adjusted annual rate of 5.02 million, the lowest level in eight months, raising doubts about the durability of the housing recovery, the National Association of Realtors reported Tuesday. Sales of existing homes have fallen three consecutive months after rising steadily through the fall in response to a federal subsidy for first-time home buyers. The tax credit has been restored and expanded to repeat buyers, but there has been no increase in sales yet. Inventories of sales on the market jumped in February, rising 312,000 to 3.59 million, the highest since September.

Monday, March 22, 2010

Boo Hoo we get health care.....

Bail out the rich but don't give the working stiff an aspirin. Of course the government will take over the industry because that's what governments do. History teaches us that once the public gets their heads in the trough of "free" money it all gets to be free. We'll pay for it by robbing some oil producing country or two or bankrupting the world's monetary system. (Not pretty.)

That's what empires do. Once you start an empire you have to ride it out. Personally I'm trying to get in on it because there's no choice. We just need to get through it until something else takes over.  No country ever before has taken empire so far. America controls everything. Especially the as far as her military  rides herd over the whole planet . She can buy or crush any country's conventional forces at any time of her choosing.

We're just run by gangsters, is all.

Be as it may all we can do is bitch and grab our asses while it runs it's course and make the best of it. because it's course is inevitable. It has to expand or implode. I'm leaning toward the implode side because that's what empires do. In due time they disappear.

Wednesday, March 17, 2010

What took them so long?......

Maybe we'd  have less bashing from the gangsters in Washington if Toyota would just  back to building cars back in Japan. Maybe that's Oba mama's idea after all. After all, since they own GM, they hate competition .

On the home front, Patti and I should have the mobile home paid off by my birthday. Got a new credit card with $6000 on it the other day and am waiting for another one at a cheaper interest rate hopefully another $5000 or so. We now have plenty of credit at the credit union if, and when I need it.

As I've been writing about, the boom and bust cycle will accelerate and make an even bigger mess next time. Watch the price of oil the only "real" money. If it doubles, head for the hills. Collapses borrow like crazy as the boom will be spectacular. Everything will go up up up.  Debts become worthless as money loses value. That's why I've recommended the buying of food. I've been right on so far. Check your grocery store  prices.

Personally, I'm gearing up for a new vending business as I like to travel. Probably go into selling food. Even broke dicks have to eat. And the government  will make sure they have the money!

Why else would anyone vote for these guys... FREE MONEY!!!!

 Another good business is buying cheap mobile homes and reselling for twice what you pay. Need cash to do it but pretty easy to do. Just have a title company handle the details and collect the payments. I pay $4 a month for the piece of mind knowing my title is safe as I make payments.

The Coming Economic Depression: Toyota Closes Last California Plant: 4600 Unemployed
FREMONT, Calif. (AP) — The United Auto Workers and Toyota have agreed on terms to shut down the Nummi plant that employs 4,600 workers.
It is California's sole remaining auto plant.

The terms weren't disclosed Monday but include a pay package when the plant is shut down April 1. The agreement is subject to a ratification vote by the plant's 4,600 workers. The UAW says a vote will probably take place later this week.

Messages left Monday with Toyota and the UAW were not immediately returned.
Toyota said earlier this month that it will spend $250 million assisting employees at the factory.

Monday, March 15, 2010

Need to read this as it hit's the spot.....

When everybody get's a government check everyone supports the government in order to keep their check. Nothing can stop the snowball of debt that crushes every empire to date. If anyone gets in the way because they are perceived to change the status quo they are laughed off the national stage.

Ask Ross Perot, Pat Buchanan, Ralph Nader,Sarah Palin, etc. Not exactly an accident, hmm?

Does anybody ACTUALLY believe we can change the destiny of this crippled empire? I wish I could... | Ron Paul 2012 | Campaign for Liberty at the Daily Paul
I am a finance and economics major at Florida State University and I work as a bagger at Publix SuperMarkets in Tallahassee, Florida. Publix is an average grocery store chain in the southeast. I got to look at my store's financial statements (the balance sheet, income statement, and cash flows statements). My store does about a million dollars a week in business (revenue). Out of that million dollars, four hundred thousand, or 40% of that is directly from the Federal Government in the form of food stamps. I can't even guess what the percentage would be if you included money from social security and every other government handout. Very few people at my store pay for their own food with their OWN saved money. This is the utmost demonstration of DEPENDENCE that I have ever witnessed. Not only for the 'poor' people, but Publix and every other government-subsidized grocery stores.

What I honestly see the most is that the person will pull out their food stamp card (which ironically has a giant U.S flag on it, giving the impression that you are entitled to food stamps as an American which you aren't) and pay for an assortment of high grade foods such as steak, chicken filets, premium spices and sauces, steamed spicy shrimp, crab legs, full subs from the deli. Food that people on a tight fiscal budget should ABSOLUTELY NOT be purchasing. After that is done, they will whip out a wad of cash and pay for the 2 cases of Miller High Life that the food stamps won't cover. This infuriates me so much as I bag their groceries they bought with my tax dollars with a smile on my face. Sometimes I think bad thoughts and am glad that these people will be unprepared for the true crisis that awaits them.

Thursday, March 11, 2010

Somebody screwed up.....

Not often the scum get punished. Must of pissed somebody off. Conyers maybe ran for the hills over his wife getting caught bribing. Greed will eventually get you, I guess. But look how many years it took.

Conyers' wife sentenced to 3 years - Washington Times
DETROIT (AP) | A former Detroit City Council member was sentenced to more than three years in prison Wednesday for bribery after a federal judge refused to set aside her guilty plea during a stormy court hearing dominated by a dispute over evidence of other payoffs.

As guards cleared the packed courtroom, Monica Conyers yelled that she planned to appeal. The wife of U.S. Rep. John Conyers Jr., Michigan Democrat, wanted to withdraw her guilty plea, suggesting she was the victim of "badgering" last year when she admitted taking cash to support a Houston company's sludge contract with the city.

But U.S. District Judge Avern Cohn, reviewing a transcript of the June hearing, said Monica Conyers had denied any coercion and voluntarily pleaded guilty to conspiracy.

Monday, March 08, 2010

Cure for health care for everybody.....

Health savings accounts.

if you insist on giving people coverage, this is the way to go.  I put in $2400 and Walmart puts in $600 and my deductible is  covered. Tax deductible for both of us. If I don't use it by age 65 I get to blow the money.  If I use it I have a $3000 deductible, then if it's a serious health issue, I have to pitch in an extra $ 400 bucks as co-pay and I'm covered for life on the illness. In other words, after $5000, I don't have to worry about a cancer treatment or heart attack, etc.

At 65, I qualify for medicare, and get my coverage there. Though why we don't fix medicare and put everybody on it is beyond me. Probably because everything the government does is a fucked up mess. (VA anybody?) Wait until you see ObamaCare.

But this politics. Money. lawyer and big Pharma money. Plenty of big buck jobs for politicians and especially for wives, husbands, children, etc. Millions thrown around. The corruption is unbelievable.  Prostitution, homosexual scandals, spouse on the take, bribery, etc. etc.

And we ain't talking Rome here. Nope, America!

Sunday, March 07, 2010

Oil is the only real money......

No  oil we starve. No oil we walk. No oil we kill everybody to get it. That's what it's all about. The oil producing people have declared war on us and have used our financial elites to stick it to us. Why else would gas prices go up in a depression?

Eventually the crooks in charge will get theirs and we begin to drill here. Until then expect samo samo. None of the political elites seem to be on our side. You sure can't trust either party. So we hunker down in the twilight of our empire and wait.

America’s Commodity Crisis – 2010 Edition « Phil’s Favorites – By Ilene
America’s Commodity Crisis – 2010 Edition

Courtesy of Phil’s Stock World, by Phil

Commodities are a TAX. They are the worst kind of tax because they flatly (not progressively) charge every man woman and child in this country more money for the same food, fuel, shelter and clothing that they had to have last week in order to live. It doesn’t matter if those people are trying to save or trying to tighten their belts or trying to get out of debt – high commodity prices are a shake-down that rips money out of the pockets of the middle class and funnels it to the very, very small class of commodity producers, commodity speculators and the people who finance them and collect the fees.

Over 99% of the people in this country do not own mines or oil wells (and I’m not counting small farmers because they are literally raped by speculators and bankers, often leaving them worse-off than the consumers) or huge plantations and they do not buy futures contracts on margin with cash they borrow at prime plus 0.5% nor do they own tankers filled with 2M barrels of crude that they arbitrage along the crack spread, looking for an opportune moment to deliver their goods (hopefully during a crisis) at a maximum profit.

So 99% of the people in this country don’t even own a commodity ETF – they have no way to profit from high commodity prices and they need to eat, and they need to buy clothing and have shelter and they need fuel to heat or cool their homes and go from place to place. There is a word for people like that, at the bottom end of a transaction they have no control over – VICTIMS!

Friday, March 05, 2010

I must be psychic.....

Without buying all these bad debts the economy disappears. Expect the government to keep pumping the paper money into the world. Only chance the elite have to save themselves from the rope. I'm not optimistic at this time.

By the way, we bought 14 million new guns last year.  Even democrats bought some. They must know something. Heh heh.

Daily Digest - Daily Digest - March 3 - Mar. 3, 2010 - Blogs at Chris Martenson - Daily Digest, Economy
Government-sponsored enterprise (GSE) Fannie Mae (FNM: 1.00 +1.01%) said Monday it expects to purchase from 150,000 to 200,000 delinquent loans out of single-family mortgage-backed security (MBS) trusts during March. The clarification of Fannie’s delinquent buyouts answered some industry questions about the time line of the buyouts and the scope of delinquencies among product time, according to analysis this week by Barclays Capital. This month will mark only the beginning of Fannie’s plan to buyout loans 120+ days delinquent.

Wednesday, March 03, 2010

Makes my point doesn't it.....

Take us off gold and use oil for a standard and you get inflation.


We ain't seen nothing yet. We are still crashing. House, jobs, credit, and everything else for us working stiffs, Check out you savings, if any, or the equity in your house. The government needs to put even more money into our hands to "stimulate" the fucked up economy.

They will!

Schaef Report: The Fed Playing God with Our Money (November 2009)
Let’s just say, for example, that our government still followed the Constitution. I know it may be a stretch, but try to use your imagination. Would our currency be falling in value? No! And I can prove it. Until 1965 the United States made its quarters with 90% pure silver (10% copper to add strength). A 1964 quarter had 6.25 grams of silver back then, and back then 25 cents would buy you about one gallon of gas. Today 6.25 grams of silver is worth $3.13. So today you could cash in a 1964 quarter at a precious metals dealer and still buy yourself about one gallon of gas. Now, that’s what I call consistency!

Tuesday, March 02, 2010

Goodby Walmart.....

If this doesn't do it nothing will. Unless they start buying trinkets and junk elsewhere. Time will tell if China collapses. You can bet that everybody is scrambling for back up sources.

China's Real Estate Bubble Is Being Inflated By Local Governments - DailyFinance
The actions of those local authorities are at the heart of China's property bubble, and they explain why the central government's attempts to cool lending and construction are failing.

China's central government has attempted to douse the speculative flames of its real estate bubble -- prices rose 9.5% in January alone -- by calling on banks to curb real estate lending and by increasing the level of reserves banks must maintain. But those moves are offset by the incentives local governments have to put money into real estate speculation.

The key difference between China's current real estate bubble and the U.S. bubble that popped in 2007 is this: In the U.S., it was individuals and lenders who made overleveraged, speculative bets via subprime mortgages. In China, explained Northwestern University researcher Victor Shih to NPR, the leveraged debt fueling the speculation comes from local governments, which have borrowed trillions of dollars worth of funds from China's banking system to develop real estate projects in their jurisdictions.

Shih has found that almost 50% of the Shanghai government's revenues come from land sales, and local governments have come to... more.

Monday, March 01, 2010


Hmmmmm. Imagine going home to the old lady and explain this little "accident."

Dwarf's penis stuck to vacuum cleaner | The Daily Telegraph
Dwarf's penis stuck to vacuum cleaner

* From correspondents in Edinburgh
* From: AFP
* August 21, 2007 6:39AM

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A DWARF performer at the Edinburgh fringe festival had to be rushed to hospital after his penis got stuck to a vacuum cleaner during an act that went horribly awry.

Daniel Blackner, or Captain Dan the Demon Dwarf, was due to perform at the Circus of Horrors at the festival known for its oddball, offbeat performances.

The main part of his act was for him to appear on stage with a vacuum cleaner attached to his member with a special apparatus.

The attachment broke before the performance and Mr Blackner tried to fix it using extra-strong glue, but unfortunately only let it dry for 20 seconds instead of the 20 minutes required.

He then joined it directly to his organ. The end result? A solid attachment, laughter, mortification and ... hospitalisation.

"It was the most embarrassing moment of my life when I got wheeled into a packed A&E with a vacuum attached to me," Mr Blackner said.