Monday, May 31, 2010

I made this case a long time ago......

Deficit spending has always worked. Giving away our middle class jobs doesn't. Most people believe the opposite.

History has shown us that the government can borrow as long as they can find people to lend them the money. We've been doing it since at least the last "Great Depression". But giving our industry away to foreign entities, called free trade, so the foreigners can lend us money is a recipe for disaster. You end up spending the borrowed money on the broke dicks you have just created. This in turn leads to more government. Soon you can't fart without permission.

Of course, the people  doing it make out like bandits. Eventually you runout of foreigners, then what?

In Defense of Deficits | The Nation
To put things crudely, there are two ways to get the increase in total spending that we call "economic growth." One way is for government to spend. The other is for banks to lend. Leaving aside short-term adjustments like increased net exports or financial innovation, that's basically all there is. Governments and banks are the two entities with the power to create something from nothing. If total spending power is to grow, one or the other of these two great financial motors--public deficits or private loans--has to be in action.

For ordinary people, public budget deficits, despite their bad reputation, are much better than private loans. Deficits put money in private pockets. Private households get more cash. They own that cash free and clear, and they can spend it as they like. If they wish, they can also convert it into interest-earning government bonds or they can repay their debts. This is called an increase in "net financial wealth." Ordinary people benefit, but there is nothing in it for banks.

Sunday, May 30, 2010

Looks like a good spot to look......

Shouldn't be to hard to sort them out and send them home. Probably cause a burrito shortage but what the Hell we'll survive.

Thousands protest controversial Ariz. immigration law - Washington Times
PHOENIX (AP) — Thousands of people from around the country marched to the Arizona state Capitol on Saturday to protest the state's tough new crackdown on illegal immigration.

Marchers carrying signs, banners and flags from the United States and Mexico filled a five-mile stretch of central Phoenix. Dozens of police officers lined the route, and helicopters hovered overhead.

Police declined to estimate the size of the crowd, but it appeared at least 10,000 to 20,000 protesters braved temperatures that were forecast to reach 95 degrees by mid-afternoon. Organizers had said they expected the demonstration to bring as many as 50,000 people.

Saturday, May 29, 2010

Bush's fault.......

Read the last paragraph. By the way. how many thousands of jobs and billions in taxes has this "progressive"idiot cost the government with this moratorium? Well, at least these states will continue to be Republican for ever.

P.s notice not one single bureaucrat will lose their job.

Daily Digest - Daily Digest - May 27 - May. 27, 2010 - Blogs at Chris Martenson - Daily Digest, Economy
President Obama, who planned to visit the gulf on Friday, ordered a suspension of virtually all current and new offshore oil drilling activity pending a comprehensive safety review, acknowledging that oversight until now had been seriously deficient.

His action halted planned exploratory wells in the Arctic due to be drilled this summer and planned lease sales off the coast of Virginia and in the Gulf of Mexico. It also halts work on 33 exploratory wells now being drilled in the gulf.

Mr. Obama said at a news conference in Washington that he was angry and frustrated about the catastrophe, and he shouldered much of the responsibility for the continuing crisis.

“Those who think we were either slow on the response or lacked urgency, don’t know the facts,” Mr. Obama said. “This has been our highest priority.”

But he also blamed BP, which owns the stricken well, and the Bush administration, which he said had fostered a “cozy and sometimes corrupt” relationship between oil companies and regulators at the Minerals Management Service.

Friday, May 28, 2010

Now I can sleep better at night......

Kind of makes you glad you don't live in Vegas, doesn't it? What will they do without these silly diversions from the disaster that big government is.

Might better ban the candidates, heh heh. At least that would be something positive.

Ban on chicken suits at polls still stands - News -
Protesters of a statewide ban to keep people dressed as chickens from coming closer than 100 feet to polling places are crying "fowl."

It seems Secretary of State Ross Miller's ban did not stop some peeps from flocking to vote Wednesday.

Most Popular Stories

1. Former county Republican Party treasurer again found guilty of murder
2. Michelle Obama brings Let's Move to Las Vegas
3. Police investigate officer who struck suspect for spitting
4. Ban on chicken suits at polls still stands
5. Couple get 20-year prison terms in sex abuse case
6. Teen killed in North Las Vegas
7. Jazz band ends Gold Coast run
8. Judge adds more prison time to killer's sentences
9. Lawmaker's call to woman sparks call for resignation
10. Grandmother: Teen killed by gang members

"Anyone else tired of chickens?" Miller tweeted Wednesday afternoon.

Clad in a bright yellow chicken suit, Michael Ginsburg voted at the Rainbow Library despite the ban, claiming the debate has transformed into a free speech issue rather than a jab at any one particular candidate.

"The concern is they could ban something else," said Ginsburg, an at-large board member for the Progressive Leadership Alliance of Nevada. "I understand the chicken outfit has become synonymous with a certain campaign, which we weren't actually discussing or out in opposition to. This really just interferes with someone's First Amendment rights."

Tuesday, May 25, 2010

The fix has been reconfirmed.....

Corporations love government regulations. It kills competition dead leaving a multitrillion dollar market with only a hand full of players.

At least the politicians won't have to worry about their cut not coming on time. They'll be laughing all the way to the bank.

US Senate Rubber-Stamps the Dictatorship of the Big Banks
The Wall Street Journal reported the rise in prices under the headline, “Financial Stocks Turn Higher After Senate Passes Reform Bill.” titled its story, “Bank stocks rally on heels of Wall Street reform,” noting that “major banks reacted positively to the reform’s passage, and shares climbed in afternoon trading.”

There is a striking and politically illuminating contrast between the market reaction and the populist phrases mouthed by Democratic politicians in Washington. Harry Reid, the Democrat majority leader in the Senate, boasted, “When this bill becomes law, the joyride on Wall Street will come to a screeching halt.”

President Obama was more restrained, declaring, “Our goal is not to punish the banks but to protect the larger economy and the American people from the kind of upheavals that we’ve seen in the past few years.” But he hailed the passage of the bill as a triumph over intensive lobbying by the major banks (who were among his biggest financial backers in the 2008 presidential campaign).

“When they couldn’t kill it, they tried to water it down,” he claimed, adding, “Taxpayers will never again be asked to foot the bill for Wall Street’s mistakes. There will be no more taxpayer-funded bailouts. Period.

Monday, May 24, 2010

Fucking mayans.....

Who else could it be?

Have aliens hijacked Voyager 2 spacecraft | The Daily Telegraph
IT left Earth 33 years ago, now it's claimed the Voyager 2 spacecraft may have been hijacked by aliens after sending back data messages NASA scientists can't decode.

NASA installed a 12-inch disk containing music and greetings in 55 languages in case intelligent extraterrestrial life ever found it.

But now the spacecraft is sending back what sounds like an answer: Signals in an unknown data format!

The best scientific minds have so far not been able to decipher the strange information – is it a secret message?

Alien expert Hartwig Hausdorf said:"It seems almost as if someone had reprogrammed or hijacked the probe – thus perhaps we do not yet know the whole truth" Read more in Bild

Sunday, May 23, 2010

What do the Chinese know?........

The world is awash in recoverable oil. Tar sands can still be processed at a profit.

Especially with nuke power. Something the Chinese would be able to use without asking permission from tree huggers without real jobs.

After they clean up the world's assets maybe they'll lend us a couple more bucks, right? Only if we do as we're told, of course.

Agora Financial's 5 Minute Forecast
“Love what you guys bring each day,” writes another piling on. “Just one correction to your comment on the oil sands. Big existing oil sands installations are very economical. The cost of production at Suncor and Syncrude, by far the biggest oil sand producers, is $30-35 per barrel and $20-25 per barrel, respectively.

“Only new projects are coming in at the $70-90 per barrel level.”

The 5: Thanks for pointing out the distinction. Still, we wouldn’t be surprised to see the Chinese buy in after the Canadian delegation leaves town this week. In other deals around the world, China has demonstrated a willingness to pay above-market prices to ensure a reliable supply. That usually gets the deal done… that and the many cups of bai-jo you are encouraged to imbibe when doing business here.

Thursday, May 20, 2010

This post is for my brother Bert....

Couldn't help myself. Need to keep the old boy on his toes. Heh heh.

Natural Disasters Fill Seers’ Calendar in 2012
[Lately, Mother Earth has been angrier than we can ever recall. A friend of ours with a keen interest in the predictions of seers alerted us a few years ago to the prospect of a dramatic increase in seismic activity around now, so we were naturally eager to have him update the forecast. He has obliged with the grim predictions detailed below. Be warned that his outlook is not for the squeamish and that it suggests 2012 could be a year in which natural disasters impact hundreds of millions of lives around the planet. Incidentally, if you’d like to sample the eclectic range of Rick’s Picks commentary, you can get a free seven-day trial, including daily stock and futures recommendations, by clicking here.]

Rick has asked me to outline the impact of potential future geological events on the U.S. economy. I am not a geologist or an economist, (although I do have an eclectic university education background) - my own personal studies for the last several decades have included amongst other things various prophecies about future events from multiple sources around the world. I write this anonymously, and am writing it at Rick's request. I am just putting it out there for your consideration - what you choose to do with this prophetic scenario, if anything, is up to you.

Wednesday, May 19, 2010

More bullshit from big media....

Remember global warming? How about baillouts fixing the economy? Then you must agree that we are doomed by oil spills.

Yea right!

I contend that the big buck gangsters can't make any money if we lessen our need for Middle East oil.  The reason?

Big military sales!

My Way News - Where's the oil? Model suggests much may be gone
About 35 percent of a spill the size of the one in the Gulf, consisting of the same light Louisiana crude, released in weather conditions and water temperatures similar to those found in the Gulf now would simply evaporate, according to data that The Associated Press entered into the program.

The model also suggests that virtually all of the benzene - a highly toxic flammable organic chemical compound and one of the chief ingredients in oil - would be stripped off and quickly vaporize.

The model was not designed for deepwater spills like the one at the Macondo well in the Mississippi Canyon now threatening the Gulf Coast. But experts said the analysis might give a close approximation of what is most likely happening where the oil plume is hitting the surface nearly 50 miles south of Louisiana.

The size and nature of the spill also has been altered by response efforts. So far, about 436,000 gallons of chemicals have been sprayed on the oil to break it up into smaller droplets and about 4 million gallons of oily water have been recovered.

Of that recovered mixture, at least 10 percent is oil, BP and NOAA said. Smaller amounts of oil also have been collected after washing ashore, and crews have burned a negligible quantity off the surface.

That would leave as much as 2.7 million gallons at sea as of Friday, with about 210,000 gallons coming up from the well every day.

The 210,000 gallons figure - specifically, about 5,000 barrels - comes from NOAA and has frequently been cited by BP PLC and the Coast Guard. Some scientists have said based on an analysis of BP's video of the leak that the flow rate is much higher, while others have concluded the video is too grainy to draw any such conclusions.

Even with computer models and history as guides, uncertainty reigns.

Doug Helton, the operations coordinator for NOAA's Office of Response and Restoration, said the agency was uncertain how much oil would sink to the bottom. For now, most of it is near the surface.

"This oil is coming from the sea floor and coming up to the surface in droplets and then once it comes to the surface it re-coelesces as a slick," he said.

Ed Overton, a Louisiana State University chemist who's analyzed the spill for NOAA, said he thinks most of the oil is within a foot of the surface.

"Ultimately, you could have a lot of oil on the shoreline. It won't be a black tide coming in, it will be globs coming ashore," he said.

"It's going to be a long, slow summer."

Wilma Subra, a chemist and MacArthur Fellow affiliated with the Louisiana Environmental Action Network, said there was a risk that the effort to break up the oil with dispersants would simply sweep it to the ocean bottom and contaminate the food chain, a possibility that has shrimpers on edge.

Merv Fingas, who has studied oil spills for 35 years and has worked for Environment Canada, that nation's environmental agency, predicted a bit of both: some would wash up, and some would stick to sediment and mud and sink slowly to the bottom, much of it likely settling near the spewing well.

"That's the fate of a lot of oil spills: sedimentation on the bottom," Fingas said.

Overton disagreed, saying the oil from the Deepwater Horizon spill is too light to sink all the way.

A common refrain among experts and officials is that every oil spill is unique.

Larry McKinney, director of the Harte Research Institute for Gulf of Mexico Studies at Texas A&M University-Corpus Christi, said the Deepwater Horizon spill reminds him of the last catastrophic oil flood in the Gulf.

In 1979, Mexico's Ixtoc I in the western Gulf blew out and spewed about 420,000 gallons of oil a day for nine months. Large quantities of oil did not reach Texas beaches.

"This was a problem we ran into with Ixtoc, we never found the oil," McKinney said. "But I think even today if you dig down in some sandy beaches you can find a layer of Ixtoc oil."

Monday, May 17, 2010

Retarded fucker.....

Putting your money in a 401 k has proven over andover to be a ponzi scam. Only the gangsters running the legal rackets will make more than peanuts.

Want security for retirement. Pay off your debts. Have no house payment. Live like a king instead of serf. No other retirement is more secure. Remember, no one ever went broke paying their way and not borrowing!!

» Start Retirement Savings Early
You’ve probably heard that your most valuable asset is time. For new graduates, that line actually refers to two different ideas, both of which are critically important to understand. The first idea is that with few entanglements and draws on your time (mainly no kids), you can devote more of it to your career and engineer the largest advancements in your career.

The second refers to the power of compounding interest and that’s important to understand with regards to your retirement in forty+ years.

This post is part of Bargaineering’s 2010 New Graduate Guide series where I’ll share my insights and offer my financial guidance to the graduate class of 2010. This post is part of day 1, establishing your financial foundation.

Contribute to a 401(k)

When you start working, your employer may offer you the opportunity to contribute to your retirement through a 401(k) (here’s a primer on retirement investing). They will entice you to do this by offering some sort of matching offer, say 50 cents for every dollar you contribute up to 6% of your salary. You will not find a better deal in the entire world, I guarantee it.

Saturday, May 15, 2010

Anyone in the Democrat party not working for Goldman?....

Only Oba mama knows for sure. Maybe. Of course they'll be diligent in investigating these gangsters, right?

A List of Goldman Sachs People in the Obama Government: Names Attached to the Giant Squid’s Tentacles | The Seminal
At a time when Congressional hearings are set to call testimony from some Goldman Sachs employees, it is vital to understand how widespread that institution’s ties are to the Obama administration. This diary shows the pervasive influence of Goldman Sachs and Goldman created institutions (like the Hamilton Project embedded in the Brookings Institution), employees and influence peddlers in the Obama administration.

While many of the people listed below formerly worked for Goldman Sachs or its offshoots (like the Hamilton Project, including all three of that project’s first Directors) influence can be exerted not only through people but through money, awards, sponsored scholarship, and creation of an agenda favorable to Goldman Sachs (which is where Brookings and the Hamilton Project come in and have proved especially useful to Goldman Sachs).

It is further of note that although Goldman Sachs has been the center of attention especially since Matt Taibbi’s insightful investigative journalism, that I have not been able to find a comprehensive list of the influence of Goldman Sachs in this administration. Recently in the New York Post, for instance, Michelle Malkin wrote a good article called "All the President’s Goldman Men" but she only listed the usual suspects like Larry Summers, Timothy Geithner, Rahm Emanuel, Gary Gensler and Mark Patterson.

But that’s just the tip of the Goldman Sachs iceberg. Here you will find

Thursday, May 13, 2010

What a racket......

Borrow from the Fed at .25% lend to the Treasury at over % 3. Simply push buttons on your desk and collect millions. Why would these crooks do any thing different.

Would you?

We need to get these guys off welfare. Rope sounds good for most of them.  In the meantime quit doing business with them and stick with credit unions and small local banks.

‘Perfect Quarter’ at Four U.S. Banks Shows Fed-Fueled Revival -
By David Mildenberg and Dawn Kopecki

May 12 (Bloomberg) -- Four of the largest U.S. banks, including Citigroup Inc., racked up perfect quarters in their trading businesses between January and March, underscoring how government support and less competition is fueling Wall Street’s revival.

Bank of America Corp., JPMorgan Chase & Co. and Goldman Sachs Group Inc., the first, second and fifth-biggest U.S. banks by assets, all said in regulatory filings that they had zero days of trading losses in the first quarter. Citigroup Inc., the third-largest, doesn’t break out its daily trading revenue by quarter. It recorded a profit on each trading day, two people with knowledge of the results said.

“The trading profits of the Street is just another way of measuring the subsidy the Fed is giving to the banks,” said Christopher Whalen, managing director of Torrance, California- based Institutional Risk Analytics. “It’s a transfer from savers to banks.”

Wednesday, May 12, 2010

You got a love a genuine nut job.....

This guy is weird. But all politicians are weird.

Of course that doesn't mean he's unique.

UPDATE: Venezuela's Chavez Plans To Attack Soaring Inflation -
CARACAS (Dow Jones)--Venezuelan President Hugo Chavez responded Sunday to what could become an out-of-control inflation problem, promising swift action that includes unleashing the military to nail merchants who unfairly raise prices.

Chavez said that in many of the cases, it's not just greed but politics that are leading businesses to raise prices. With key congressional elections just four months away, he said, businesses loyal to the opposition are hoarding goods so prices will rise, in the hopes of stirring panic and pulling voters away from the ruling socialist party.

Monday, May 10, 2010

Another trillion for bank bailouts......

Blame it on Greece because we can't have the gangsters running the world taking a hit can we?  But what the Hell you and I  as tax payers are only responsible for 200 billion. A lot a luck on that Greco butt boys!

The Mortgage Porter: Mortgage Rates: Greece is the Word
Mortgage Rates: Greece is the Word

Stocks are rebounding from last weeks losses with Europe coming forward with a plan to save Greece. Right now the DOW is up about 360 points and mortgage backed securities are all ready in a position for lenders to issue new rate sheets with re-pricing for the worse...and it's not even 8:00 a.m.

Please keep that in mind when ever you read rates that are published on a website, Twitter or even worse, on print...the second they're published, they may no longer be valid as mortgage rates may change several times a day.

With no scheduled economic reports to be released until Wednesday, watch for mortgage rates to take their lead from stocks. Remember, the better the stock market does, the higher rates tend to go. This is because investors will pull money from the safety of bonds for stocks.

Thursday, May 06, 2010

get exactly the government you pay for.....

Right BP. Oba mama took a lot of their money. Now the Fed's will have to make it up to their financiers.

Obama Sheltered BP's Deepwater Horizon Rig from Regulatory Requirement
Last year the Obama administration granted oil giant BP a special exemption from a legal requirement that it produce a detailed environmental impact study on the possible effects of its Deepwater Horizon drilling operation in the Gulf of Mexico, an article Wednesday in the Washington Post reveals.

Federal documents show that the Department of the Interior's Minerals Management Service (MMS) gave BP a "categorical exclusion" on April 6, 2009 to commence drilling with Deepwater Horizon even though it had not produced the impact study required by a law known as the National Environmental Policy Act (NEPA). The report would have included probable ecological consequences in the event of a spill.

The exemption came less than one month after BP had requested it in a March 10 "exploration plan" submitted to the MMS. The plan said that because a spill was "unlikely," no additional "mitigation measures other than those required by regulation and BP policy will be employed to avoid, diminish or eliminate potential impacts on environmental resources." BP also assured the MMS that any spill would not seriously hurt marine wildlife and that "due to the distance to shore (48 miles) and the response capabilities that would be implemented, no significant adverse impacts are expected."

KierĂ¡n Suckling, director of the Center for Biological Diversity, told the Post that the Obama administration's exemption effectively "put BP entirely in control," adding, "The agency's oversight role has devolved to little more than rubber-stamping British Petroleum's self-serving drilling plans."

In fact, BP's self-assessment of the potential for a disaster reproduced that of federal regulators. In 2007, under the Bush administration, the MMS carried out three studies of the potential environmental impact of deep sea drilling in the Gulf of Mexico, including one that pertained specifically to the area where Deepwater Horizon was ultimately deployed, known as "Lease 206." The MMS determined that a "deepwater spill" would not reach the coast and would not exceed 4,600 barrels.

Monday, May 03, 2010

Banks r us.......

The government controls virtually all home loans. It also controls the auto industry. soon it will completely control Wall Street.

Or is it the other way around?  Gangsters r us, hmm?

Jim’s Mailbox : Welcome To Jim Sinclair's MineSet
The Federal Reserve creates as many billions of dollars as it wants with the stroke of a key. Next, it loans those billions of dollars to U.S. Banks at a rate of close to zero percent interest. U.S. Banks then take the billions of dollars they have borrowed from the Federal Reserve and purchase U.S. Treasuries, earning a margin of three percent or more interest.

Banks understandably prefer earning money this way to making actual loans to U.S. businesses and individuals. As noted in the Bloomberg article, “The risk of owning Treasures is lower than creating loans.”

This is an out-and-out monetization of U.S. debt. The government could literally do this to infinity. The only thing holding it back would be coming up with the interest payments; however, those, too, could be monetized to infinity.

It also amounts to an enormous subsidy of the banking industry that was never authorized by the legislature. In exchange for nothing more than executing a couple of keystrokes, U.S. banks earn a margin of three percent or more interest on however much money the U.S. Treasury and the Federal Reserve see fit to create.

Next, as explained in the Wall Street Journal article, “U.S. Role in Mortgage Market Grows Even Larger,” we see that the U.S. government has been forced to take over the lending operations that U.S. banks now find undesirable. As a result, we learn that the U.S. government’s “share” of the U.S. mortgage market has grown to 96.5%.

Saturday, May 01, 2010

My favorite theme.....

We're broke. The "Boomers" have hit bottom. No one is going to buy houses and cars for awhile with out government handouts. We have to work our way off the deck and recover from our losses giving our  retirement accounts which have been devastated  time to come back.

Expect more handouts and gimmicks as  the banks unload a couple million more foreclosures. Then the Dem's will have to scramble to save their asses. Not that the Republicans are any better. Instead of getting out of the way they'll all be running around like chickens with their heads cut off screaming that the government has to do something.

Like not drilling for oil.

I'm in a get debt free and improve access to credit mode as I just paid off the mobile home. Being prepared for $6 gas and food price explosions is another  great idea. I expect Oba mama to be reelected because no Republican seems to be in position to remove him. Next year the economy will be receiving "Obama money" as I predicted a year ago. Most of the bailout funding kicks in 2011 in order for him to get reelected.This means  the economy has got to show a big improvement for the average guy not just the rich.

It wouldn't hurt if the Dem's put some people on Wall Street in jail but don't count on it as too many politicians, wives and other relatives are on Wall Street's payroll . Removing this money from going to  our public officials would solve some of the corruption.

Good luck on that.

Oftwominds: Why the "Nascent Recovery" Won't Last
The aging of the 78 million-strong Baby Boom means that the number of citizens sucking up Medicare expenses (roughly $400-$500,000 each under many projections based on current costs) will rise by 50% to 67 million in a few years.

Social Security rolls will rise by the same number as Boomers rush to cash in their dwindling retirement chips. The Social Security surplus has already rolled over into deficit as unemployed and downsized Boomers are taking their Social Security at 62 rather than waiting to get their full draw at 67.

So if half the budget is being captured by Medicare/Medicaid alone, where will the money come from for running the Empire, Social Security, interest on the national debt, etc.?

We'd rather not discuss that because it isn't "confidence building."

These gargantuan deficits aren't 20 years away--they're just a few years away. yet all the rosy projections never mention them, as they are inconvenient flyspecks of reality on the rosy forecast of "nascent recovery."

Here is a chart of the unfunded liabilities of the Savior State's entitlements:

Even if you expropriate the entire wealth of the nation--$54 trillion--you come up $50 trillion short.