Tuesday, November 30, 2010

Either we need to pay more......

Or prosecute more is the question. Obviously these guys don't work for us.

Still the Best Congress Money Can Buy - NYTimes.com
t’s an industry that can buy politicians as easily as it does dwarfs, which is why government has tilted the playing field ever more in its direction for three decades. Now corporations of all kinds can buy more of Washington than before, thanks to the Supreme Court’s Citizens United decision and to the rise of outside “nonprofit groups” that can legally front for those who prefer to donate anonymously. The money laundering at the base of Tom DeLay’s conviction by a Texas jury last week — his circumventing of the state’s post-Gilded Age law forbidding corporate campaign contributions directly to candidates — is now easily and legally doable at the national level.

There are plenty of Americans who don’t endorse Stewart’s indictment of cable news; there’s even a reasonably large group that doesn’t buy Beck’s perceived shortfall in American religiosity. But seemingly everyone is aggrieved about the hijacking of the political system by anonymous special interests. The most recent Times-CBS News poll found that an extraordinary 92 percent of Americans want full disclosure of campaign contributors — far many more than, say, believe in evolution. But they will not get their wish anytime soon. “I don’t think we can put the genie back in the bottle,” said David Axelrod as the Democrats prepared to play catch-up to the G.O.P.’s 2010 mastery of outside groups and clandestine corporate corporations.

The story of recent corporate political donations — which we may never learn in its entirety — is just beginning to be told. Bloomberg News reported after Election Day that the United States Chamber of Commerce’s anti-Democratic war chest included a mind-boggling $86 million contribution from the insurance lobby to fight the health care bill. The Times has identified other big chamber donors as Prudential Financial, Goldman Sachs and Chevron. These are hardly the small businesses that the chamber’s G.O.P. allies claim to be championing.

Monday, November 29, 2010

One more year on my contract.....

I dumped Dish Network when my contract ended and now I have 12 more months to get rid of Direct TV. Then it's online from now on as I can get most everything I watch that way. I have a Sony blue ray player for internet TV hooked up direct to my router giving me Netflix. Add that to my XM radio account for news in my car and I'm all set as I normally watch or listen to Fox business, Fox news or talk shows. The only other thing I listen to is  Rush on A.M. occasionally.

I figured a long time ago I didn't need the regular TV but I couldn't pick up local TV on an antenna because of trees in my yard. So I signed up for Direct TV. Big mistake. Nothing but junk or nothing I can't get online except for Dexter and the Tudors. However, these  shows are on Hulu and I can hook my laptop to my Sony tv and watch them. Or pay 8 bucks a month for Hulu Plus.

Of course,  I'm sure something else  will come up in a year or so and give us more choices. Which is what it's all about.

Americans turn off cable TV as online grows | Raw Story
WASHINGTON — The economic downturn has US cable television companies shedding subscribers in record numbers and Americans increasingly "cutting the cord" in favor of cheaper online options, new research shows.

The findings point to a growing pool of potential customers for online services such as Hulu and Netflix and newcomers like Apple TV and Google TV, which offer lower prices and more flexibility, analysts say.

According to research firm SNL Kagan, US cable operators lost 741,000 basic video customers in the third quarter of the year, the biggest decline since it started tracking the segment in 1980.

Comcast, the largest US cable operator, lost 275,000 video subscribers during the third quarter while Time Warner Cable, the second-largest, shed 155,000 video customers in the July-September period.

The pay television sector -- which includes satellite television and TV services offered by telecom firms in addition to cable -- lost 119,000 customers in the quarter after gaining 346,000 a year ago, SNL Kagan said.

Combined with a loss of 216,000 customers in the second quarter, the first ever decline in its history, the pay television segment has fallen 2.3 percent in the last six months to around 100 million subscriptions, it said.

Sunday, November 28, 2010

Remember this !

Makes you ashamed to be An American, doesn't it ? Black Friday nuttiness back in the stone age!

Cabbage Patch Kids Craze!

Saturday, November 27, 2010

See.... No serious deficit reduction coming.....

Everybody would have to take a hit in order to kill budget deficits.

Not going to happen!

You can't spend like drunken Democrats and shovel money out the front door to stay elected and get any budget under control.

Republicans are only bullshitting!

Michelle Malkin » Update: GOP Sen. DeMint, Rep. Pence introduce bill to stop $3.9 trillion Obama tax hikes
Today, GOP Senator Jim DeMint and Rep. Mike Pence unveiled stalwart legislation to give all hard-working taxpayers, businesses, family farms, and other job generators tax relief and certainty.

Get behind those who are fighting the job-killing machine on the front lines:

Pence, DeMint Introduce Legislation to Stop $3.9 Trillion Tax Hike

Washington, D.C. – Today, U.S. Congressman Mike Pence (R-Indiana) and U.S. Senator Jim DeMint (R-South Carolina) introduced the Tax Relief Certainty Act, a bill that would permanently extend the current individual tax rates and prevent tax increases on every American.

“Raising taxes during the worst economy in 25 years is simply a bad idea,” Congressman Pence said. “Higher taxes won’t get anyone hired and higher taxes do not create jobs. But if the Democrat-controlled Congress fails to act during this lame duck session, the American people will see the largest tax increase in our nation’s history. In order to keep working families, small businesses and family farms from facing a tax increase, this legislation would make the current tax rates permanent so no American faces a tax increase on January 1. The best way to start to spur job creation and get the economy moving again is to preserve the current tax rates, and when the new Republican majority begins serving in the House of Representatives early next year, I look forward to taking up pro-growth policies that ensure fiscal discipline, regulatory reform and additional tax relief.”

Friday, November 26, 2010

The guys who own these own us......

Your opinion doesn't count. Only your money. Quit buying and they go away. Actually they'll find something else to maintain power but let's make them work for it.

Go Internet!

Who Owns The Media? The 6 Monolithic Corporations That Control Almost Everything We Watch, Hear And Read
Back in 1983, approximately 50 corporations controlled the vast majority of all news media in the United States. Today, ownership of the news media has been concentrated in the hands of just six incredibly powerful media corporations. These corporate behemoths control most of what we watch, hear and read every single day. They own television networks, cable channels, movie studios, newspapers, magazines, publishing houses, music labels and even many of our favorite websites. Sadly, most Americans don't even stop to think about who is feeding them the endless hours of news and entertainment that they constantly ingest. Most Americans don't really seem to care about who owns the media. But they should. The truth is that each of us is deeply influenced by the messages that are constantly being pounded into our heads by the mainstream media. The average American watches 153 hours of television a month. In fact, most Americans begin to feel physically uncomfortable if they go too long without watching or listening to something. Sadly, most Americans have become absolutely addicted to news and entertainment and the ownership of all that news and entertainment that we crave is being concentrated in fewer and fewer hands each year.

The six corporations that collectively control U.S. media today are Time Warner, Walt Disney, Viacom, Rupert Murdoch's News Corp., CBS Corporation and NBC Universal. Together, the "big six" absolutely dominate news and entertainment in the United States. But even those areas of the media that the "big six" do not completely control are becoming increasingly concentrated. For example, Clear Channel now owns over 1000 radio stations across the United States. Companies like Google, Yahoo and Microsoft are increasingly dominating the Internet.

Wednesday, November 24, 2010

Is this the reason this guy lost his job...

Is it? The Republicans spent a lot of money getting rid of this guy. He also has a reputation of being embarassing to the Oba mama gang let alone the Cabal that owns our government. Notice that the slimy bitch had 8 months to "review" the banking fraud and hasn't had a chance to finish it. Must be a hectic schedule in Washington has kept her too busy. She claims she doesn't have authority to do audits of the gang that made this mess. But she serves at the pleasure of the president.

Of course she's busy. After all lunch is so tiring for our over worked public servants don't you know!

Alan Grayson (High Quality Version): Is Anyone Minding the Store at the Federal Reserve?

Tuesday, November 23, 2010

Bailouts for Ireland?......

Isn't interesting that the only ones getting the bailout money are the fucking crooked banks that got us into this mess.

No wait , that's the norm. These guys deserve their money back as they bought enough politicians around the world to make it happen.

Rothschild Bank AND Goldman Sachs Are Both On The LIST Of Bondholders Getting U.S. Taxpayer Billions In Irish Bailout - Home - The Daily Bail
Every child in Ireland is being bequeathed a huge debt at birth to protect the interests of foreign, mainly German, bondholders – why? Guido was once a bond trader, it was always understood that sometimes the bond issuer defaults.

* That is the risk investors take.

So why is Dublin’s political establishment so keen to protect foreign investors at the expense of future generations? Guido has obtained the list of foreign Anglo-Irish bondholders as at the close of business tonight. These are the people whom Dublin’s politicians really seem to care about:


Great analysis of the list from the Golem XIV...

Of the 80 listed companies only 7 listed pensions and being a cooperative savings institution. Of those only 4 listed churches and unions as their clients, the others could well have been big pension funds. The churches and unions in question were in Germany not Ireland. Those seven companies are amongst the smallest of Anglo Irish's bond holders. I only have figures for four of the seven. The largest, Union Investments of Germany, has a mere €165 billion in assets under management.

The total assets under management which I was able to compile from publicly available figures is €20,871,150,000,000. That is an underestimate because the bond holders who turn out to be Private and Swiss banks don't publish any figures. So Anglo Irish's 'bond holders' hold and invest MORE than 20.8 trillion euros. Guido lists those bond holders as holding between them 4 Billion euros in Anglo Irish bonds.

Now, in my opinion both figures are likely to be wrong. Certainly my figure is a large underestimate. But taking them at face value Anglo Irish would account for one 5000th of the total assets being managed by all the bond holders. So would even a total default by Anglo Irish cause that much, let alone systemic, pain and risk? Why are the 'Bond holders' and the Irish government so concerned that the Irish people be forced to take the loss and pay the debts for them?

Monday, November 22, 2010

The Republicans are coming.......

Paybacks are a bitch. This nut job needs lots of attention next year.

Waters slams ethics case delay - Washington Times
California Rep. Maxine Waters Friday strongly condemned a decision by the House Ethics Committee to put off indefinitely a hearing into charges that she violated congressional rules by intervening on behalf of a minority-owned bank with ties to her family.

Without elaborating, the House Ethics Committee Friday postponed a long-scheduled Nov. 29 hearing on the California Democrat, one of the most prominent black lawmakers in Congress. The panel's senior Democratic and Republican members said in a joint letter that the session was being put off because of unspecified new evidence that had surfaced in the case.

Investigators for the bipartisan committee in July detailed three charges against Mrs. Waters, alleging that she intervened with federal regulators on behalf of Boston-based OneUnited Bank, in which she and her husband were investors and on whose board Mrs. Waters' husband once served as director.

In the "statement of alleged violation" released at the time, committee investigators said there was "substantial reason to believe" that Mrs. Waters broke the official rules of the House.

Mrs. Waters has strongly denied the accusations and said in a blistering statement Friday that the ethics panel was "showing a complete disregard for due process and fairness" by delaying her case.

Sunday, November 21, 2010

Check out Walmart for inflation.....

Smaller packaging same price. Price for ounce goes up. Buy less and inflation stays in check statistically. But Walmart domestic sales are down. Big shots in the company are running scared and trying to save the stores margins. A lot of these guys have lost their jobs for fucking up and trying to cater to upper middle class woman with Martha Stewart, Hanna Montana, cooking guru Paula Odean etc. They remodeled the stores and removed the impulse counters in the middle of the aisles and discontinued many favorite items like the institutional sizes and we lack rapid replenishment of everyday items that consumers have been buying for years.

Not exactly a recipe for success you know!

Gonzalo Lira: The Boiling Frog: Effects of QE2 On The Bottom 80% of the U.S. Population
We can’t because, as prices rise, people buy less of a necessity: Higher gas prices means people drive less. Higher food prices means people eat less, or less quality of food. Higher heating oil prices means people heat their homes at a lower temperature—or in some cases not at all.

But although we can’t easily quantify it, we can comfortably make certain claims about the effects of rising consumer prices on the population.

The first claim I would venture to make—and one that I don’t think will be particularly controversial—is this: Any household spending more than two-thirds of their after-tax income on food, housing, clothing and transportation will suffer an immediate, negative impact from the Fed’s efforts at induced inflation.

That covers pretty much the bottom three quintiles of American households. So 60% of the U.S. population will suffer an immediate effect of rising prices—the stated policy goal of Ben Bernanke’s QE2.

Saturday, November 20, 2010

I kind of like this one....

Show me the titties bitch or you ain't getting on the plane.

Patti would have smacked him right between the eyes!

Cancer surviving flight attendant told to remove prosthetic brea - WBTV 3 News, Weather, Sports, and Traffic for Charlotte, NC-
CHARLOTTE, NC (WBTV) - A Charlotte-area flight attendant and cancer survivor contacted WBTV after she says she was forced to show her prosthetic breast during a pat-down.

Cathy Bossi lives in south Charlotte and has been a flight attendant for the past 32 years, working the past 28 for U.S. Airways.
More News

* 6-year-old son was groped by TSA agent, dad says
* Pantless peeping Tom busted by police
* Woman pays scammers $200 for wood 'computer'
* Mother of 6 kids shot dead outside strip club
* Sex offender fatally shot by police after baseball bat beating
* Elementary school teacher dies in wreck with school bus

In early August Bossie was walking through security when she says she was asked to go through the new full body-scanners at Concourse "D" at Charlotte Douglas International.

She reluctantly agreed. As a 3-year breast cancer survivor she says she didn't want the added radiation through her body. But, Bossi says she did agree.

"The T.S.A. Agent told me to put my I.D. on my back," she said. "When I got out of there she said because my I.D. was on my back, I had to go to a personal screening area."

Friday, November 19, 2010

Good thing he lost his committee chairman position....

Obviously his "voters" are dead or bought to elect or re elect this fuck head. But this is Washington and Rangel is par for the course. But at least he's over 80 and his days are numbered.

Bet on business as usual in Washington and you wont be disappointed. I'm just pissed that I can't afford a Congressman myself. I'm getting a little tired of making an honest living.  LOL!

Pajamas Media » Censure: How the Other Half Punishes
Charles Rangel has been found guilty of 11 of the 13 charges filed against him, with two of the charges having been rolled into one. As punishment for his crimes/violations, Chief Counsel Blake Chisam recommended a sentence of censure for the disgraced congressman to the full House, despite Rangel’s protestations for “a drop of fairness and mercy” in a prepared statement read prior to the start of the hearing.

Not only does the punishment not fit the crime, it is in fact no punishment at all.

According to AOL News:

Censure is not specifically mentioned in the Constitution — it falls under Congress’ right to adopt resolutions. … Censure is stronger than a rebuke, but not as strong as an expulsion. It is a formal, open reprimand given to a member of Congress for going against its standards of ethics and behavior.

In other words, Rangel must stand in the well of Congress and have the members tell him he behaved poorly. No, really.

Pursuant to the gravity of the charges he was found guilty of, this is beyond nonsense. One charge alone is that Rangel failed to pay taxes for 17 years on Punta Cana, his Dominican luxury beachfront villa that he keeps booked solid year round. With the battery of attorneys, accountants, and financial advisors that people like Rangel have, are we to honestly believe he had a luxury resort property and somehow forget to pay taxes on it, and no one remembered to remind him … for 17 years?

Thursday, November 18, 2010

Touchy Feely.....

TSA feeling up the public?

Don't fly! Works for me.

Of course, if a nut job gets through, (none so far), you die.

Isn't rocket science easy?

Wednesday, November 17, 2010

Turn them into parking lots....

We have to have oil. They have it. We take it. One way or the other. Bush was right. You're either for us or against us.

Not fair? Cruel? Unethical?


Week of 15 November 2010
You won’t be surprised to see that we are already doing many of these things and much of what I advocate is simply a matter of degree or scope rather than some radical new thing we’ve never done before.

And finally, I make no claim of originality. I read too much, but I’m not scholarly enough to remember who writes what so I can’t do the proper citations and credits. So, if you think I’m ripping off someone else’s ideas you’re probably right and I’ll admit it up front, but I won’t require footnotes from you if you won’t require them from me.

I don’t share Robert’s apocalyptic view. I do not believe the road to our salvation runs through killing all the little bastards, although some of that is clearly going to be necessary and where it is we should pursue that with alacrity and zeal. We’re good at it and it doesn’t hurt our enemy to know that first hand. Still, as I see it, the journey to victory is on the infinitely less expensive (but still pricey) path toward preempting Islam in the minds of its believers. Or at least in the ones that are paying the cost of the jihad to kill us. We need to start with those and can go back and get the others later. We have to give them a better path to Paradise than slavishly adhering to the incoherent rants of a psychotic thug who died centuries ago.

We can do this using the same tools and techniques we use on ourselves every day when facing choices over diet cola or where and what to eat. Sure, reaching some parts of the great unwashed Ummah won’t be cheap or easy, but we don’t have to reach all of it and the ones we do need to reach already have TV and broadband for the most part.

I know it works. We did it to the Commies and they were a far harder nut to crack if for no other reason than their prophet wasn’t a self-abusing psychotic sociopathic pedophile and bullying thief who has been dead for 1,300 years. And the commies used the same techniques on us, delivered in a slightly different manner, through their sponsorship of the Deconstructionist movement in the universities of the West back in the ‘60s and ‘70s. And, we look back with fondness at our own Reformation. Without it, we would be in the same dank, dark theocratic hole that pretty much wiped out a 3,000 year accumulation of knowledge about nature and the nature of man that Islam is mired in today. We’re still paying for our dark ages and I weep over what that lost millennium cost us. We’re lucky, though. Bringing reformation to Islam won’t have to depend on the movable type printing press and about 200 years of gestation. We have the internet, satellite TV and Taylor Swift and Miley Cyrus (a subversive character if ever there was one). And Wal*Mart and McDonalds and all the other accoutrements that make the west so desirable in the eyes of the have-nots. We’ve got the greener grass on the other side of the road, even if it’s mostly concrete. We should exploit it.

We have to get realistic about the nature of the problem. I assume everyone here has some familiarity with western history and at least a passing acquaintance with the great works of western literature and understands how the social contract between the individual and the state in our civilization evolved. “…we hold these truths to be self-evident…” and all that if you’re American, or Locke and Rousseau if you’re not. The cornerstones of our civilization all derive from the traditions described in that literature that places the rights of the individual above the state and makes the bonds of a religion a personal rather than a collective obligation.

Contrast this with the Muslim world view. Under Islam, there is no state except the Ummah, the community of believers, and outside of some administrative and coordinating functions there is no government beyond the immutable word of Allah.

Tuesday, November 16, 2010

yea.... Let's trust the Republicans....

Who got us into this mess to get us out. Wait until you hear the bitching a couple of years from now. They aint serious!

Pajamas Media » Senate Republicans Split on Earmark Ban
But now, in true Bastiat form, Republicans plan to increase the federal debt ceiling to cover this year’s $1.5 trillion deficit. They did this without first preparing a plan to streamline a bloated government, not even by banning earmarks.

McConnell and Inhofe need a brief history lesson.

The 2008 elections were a mandate against business as usual under the GOP and Bush. CNN exit polls showed that only 28% thought Bush was doing a good job, and 48% thought McCain — as leader of the Republican Party by nature of his presidential candidacy — would continue Bush’s policies.

This was one crucial nail in the GOP’s coffin that year.

In 2010, voters didn’t vote so much in favor of the Republican Party as against Obama’s agenda. Politico notes: “Following their midterm rout of Democrats, Republicans are welcoming a big crop of freshmen who criticized earmarks on the campaign trail … .”

Even the BBC admitted that Republicans campaigned with the promise to halt Obama’s agenda. The results are historical fact that their promise played well among the electorate.

McConnell and Inhofe should take this reality to heart, before they set dynamics in motion that return America to 2008.

Monday, November 15, 2010

Who gets elected doing this?.....

Almost impossible to change the government when the super rich pay for our elections, don't you think? It's true Americans don't elect very many super rich guys but we normally elect people with a lot of money. Even though this money buying their loyalty comes from super rich organizations and people who make a living servicing the government.

This means if the politicians don't play ball they find massive amounts of money and media attention destroying their chances to get reelected. So what can be done?


Who Will Stand Up to the Superrich? - NYTimes.com
Nor are the superrich helping to further the traditional American business culture that inspires and encourages those with big ideas and drive to believe they can climb to the top. Robert Frank, the writer who chronicled the superrich in the book “Richistan,” recently analyzed the new Forbes list of the 400 richest Americans for The Wall Street Journal and found a “hardening of the plutocracy” and scant mobility. Only 16 of the 400 were newcomers — as opposed to an average of 40 to 50 in recent years — and they tended to be in industries like coal, natural gas, chemicals and casinos rather than forward-looking businesses involving the Green Economy, tech or biotechnology. This is “not exactly the formula for America’s vaunted entrepreneurial wealth machine,” Frank wrote.

As “Winner-Take-All Politics” documents, America has been busy “building a bridge to the 19th century” — that is, to a new Gilded Age. To dislodge the country from this stagnant rut will require all kinds of effort from Americans in and out of politics. That includes some patriotic selflessness from those at the very top who still might emulate Warren Buffett and the few others in the Forbes 400 who dare say publicly that it’s not in America’s best interests to stack the tax and regulatory decks in their favor.

Many of the countless tasks that need to be addressed to start rebuilding an equitable America are formidable, but surely few, if any, are easier than eliminating a tax break that was destined to expire anyway and that most Americans want to see expire. Two years ago, Obama campaigned on this issue far more strenuously than he did on, say, reforming health care. Now he and what remains of his Congressional caucus are poised to retreat from even this clear-cut battle. You know things are grim when you start wishing that the president might summon his inner Linda McMahon.

Sunday, November 14, 2010

When's the last time you wrote a letter?......

More and more of my bills are paid online. My paycheck stub, online. Banking statements, retirement, catalogs, etc. My kids don't write anyone and their kids probably wont know how.

Think telephone. Eventually wearing one the size of a quarter voice activated will keep them in touch. Kind of like the end of messenger service in our lifetime. By the way, most use of the Post Office is either habits formed years ago or lack of internet service in the house.

The Coming Depression: Post Office Loses 8.5 Billion
WASHINGTON — The post office had an even larger loss than expected last year — $8.5 billion.
The agency said Friday it was in the red for 2010. Earlier estimates had put the loss at $6 billion to $7 billion.
It comes despite elimination of more than 100,000 jobs and other cutbacks over recent years.
The post office has seen a sharp decline in mail because of increased use of the Internet and the recession which cut advertising and other business mail.
For the year that ended Sept. 30, the post office had income of $67.1 billion, down $1 billion from the previous year. Expenses totaled $70 billion, a decline of about $400 million. It also was required to make a $5.5 billion payment for future retiree health benefits.

Saturday, November 13, 2010

My prescription....

Take the stimulus money divided by every person on the IRS taxpayer roll and cut them a check. Kind of like reviving a heart attack victim.

Worked for me!

The Fed’s Got POMO Fever! - Phil's Favorites
That’s right kids. Pretty much EVERY SINGLE DAY the market is open and twice on the 29th, the Fed will hand out Billions to "fix" the economy. Keep in mind they have no intention of stopping on the 9th, that’s just the end of month one! I know that we have all gotten comfortably numb with regards to large numbers but let’s consider for a moment how much money EACH $8Bn is as this is OUR money the Fed is spending:

* It’s enough to pay 5.33M $1,500 Mortgage Payments – enough to pay off every home in America each month!
* It’s enough to buy out 40,000 $200,000 Mortgages EACH DAY.
* It’s enough to pay a full year’s $50,000 Salary for 160,000 workers – EACH DAY. In a single month, the Fed could put 4.8M people back to work rather than flushing it back through the banks and Treasury in the hopes that a few jobs will trickle down to the people.
* It’s more than the ENTIRE Federal Education Budget for 2010 EACH MONTH!
* It’s the ENTIRE EPA budget for the year EACH WEEK. Also EACH WEEK, it’s the ENTIRE budged for the Department of Labor or the Department of Commerce for the year. If you want to create jobs – perhaps we could send a few dollar their way instead?
* Every 2 Weeks it’s the ENTIRE budget of the DOE, HUD or Homeland Security.
* EVERY WEEK it’s also the ENTIRE budget of the Department of the Interior, NASA, the NSA or the SBA (oh yes, we really care about small business, don’t we?).

Does that seem just a little bit insane to you? Hopefully, I have gotten the point across that $8,000,000,000 per day is A LOT OF MONEY. Our friends at Goldman Sachs, who belly up to the POMO window on a daily basis, sent a note out to clients in late October saying (Zero Hedge):

On the interplay between the FED and STOCKS: Since Sept 1 – when QE was becoming a mainstream focus – if you only owned S&P on days when the Fed conducted Open Market Operations (in US Treasuries), your cumulative return is over 11%. in addition, 6 of the 7 times when S&P rallied 1% or more, OMO was conducted that day. this compares to a YTD return of 5.8%. the point: you would have outperformed the market 2x by being long on just the 16 days when – this is the important part – you knew in advance that OMO was to be conducted. The market’s performance on the 19 non-OMO days: +70bps.

Friday, November 12, 2010

Did you ever see the tv movie Shogun......

Looks to me like a dead ringer for the conflict going on today amongst the rich who own our government.

EconomicPolicyJournal.com: Undertsanding the Murdoch-Koch Alliance
The first shot against George Soros in the War of the Oligrachs was fired by foot soldier Glenn Beck of Rupert Murdoch owned FOX.

A friend reminds me that Murdoch was for some time on the board of the Koch controlled Cato Institute. A number of Murdoch's foot soldiers attended the 2009 secret meeting held by Koch Industries. Beck was there as was FOX's Michael Barone and Steven Moore, member of the editorial board of the Murdoch owned Wall Street Journal.

Koch-Murdoch versus Soros, will make the Hatfields and McCoy's look like a lawn party. Order lots of popcorn.

Thursday, November 11, 2010

Tax reparations.....

As soon as all these billions are given a huge tax rebate the boom begins!  May need a new president but that's the plan. Corporations are sitting on the sidelines and buying politicians like it's going out of style.

Who does Sarah Palin work for?

She just signed a big contract with the Fox Network. Remember Dem leader Daschel. Fucked with the big boys, (owner Murdoch)  at Fox who supported Newt Gingrich's book deal. Newt gave his advance back, then  Daschel loses reelection and Newt gets big contract at Fox.

This is not the only one bet the big boys are laying. I'm thinking Tea Party after Soros' left wing  groups have been banging the right pretty hot and heavy for a while.

You piss these guys off and they buy the opposition to stick it in your ass. Ask Oba mama.

But the point is this money is coming back home. That's the only place it can be invested with any certitude of getting it back. This influx will screw the ChiComs  as this money will not be invested to help them produce  their shit.

It's my contention that economic booms in a fiat system are caused by surplus cash bidding up assets and right now that cash is waiting for a handout from Uncle Sam. When it comes home we'll see if it will put off the collapse for another 5 or 10 years. I believe the next bust happens as my generation leaves the work force and liquidate their assets to eat.

And it will be massive.

Not that we have much stuff left after this episode and what there is will have to be sold to a very much smaller and poorer group of investors.

Will our children be able to afford us?  Or will they have  to conquer  a few countries to save our asses?

Guess which way I'm betting?

Mish's Global Economic Trend Analysis: Congratulations to Cisco Insiders for Dumping 6,620,750 Shares, 60% of Holdings in 6 Month; Cisco CEO Whines about Taxes; Is Chambers Worth a Dime?
Cisco was hit in afterhours trading on Wednesday following a rare revenue warning. Futures are down but dip-buying strength has been so insane lately that one must wonder if there will be any follow through.

Regardless of what the stock does, the huge warning may portend the end of the ramp in capital spending on technology by corporations. If so, what's left of the recovery (if anything) is all on the backs of consumers.

While pondering that grim setup, please consider Cisco Forecasts Fall Short of Estimates; Shares Slide

Cisco Systems Inc., the largest maker of computer networking equipment, forecast sales and profit for this quarter that fell short of analysts’ estimates, sending the shares down as much as 15 percent in late trading.

“There’s no reason to think that that’s going to reverse quickly,” said the San Francisco-based analyst, who still advises buying the stock. “This is kind of a deteriorating situation.”

The company is seeking other ways to reward investors. Cisco said in September it will initiate its first dividend, starting in the fiscal year that began last month. The size and timing of the payout will depend on tax laws and repatriation policy, because much of Cisco’s cash is abroad.

Tax Laws

Chambers, 61, has said that he wants to bring at least $30 billion in cash back to the U.S. and that tax laws make it too expensive to do so. He’s called for a tax repatriation break, saying Cisco will increase its U.S. headcount by 10 percent if a favorable law is passed.

Spare Me The Whine

Wednesday, November 10, 2010

We ain't going anywhere.....

Only a nitwit of the lowest order would believe we are. We got Iran surrounded and that oil supply must be preserved.

Even if we have to turn them into a parking lot!

U.S. open to request from Iraq to stay - Washington Times
The United States is open to the idea of keeping troops in Iraq past a deadline to leave next year if Iraq asks for it, Defense Secretary Robert M. Gates said Tuesday.

"We'll stand by," Mr. Gates said. "We're ready to have that discussion if and when they want to raise it with us."

Mr. Gates urged Iraq's squabbling political groups to reconcile after eight months of deadlock. Any request to extend the U.S. military presence in Iraq would have to come from a functioning Iraqi government. It would amend the current agreement under which U.S. troops must leave by the end of 2011.

Tuesday, November 09, 2010

Don't stop now.....

Get your shit together and hang on for the ride. Quantitative easing  starts Now.

Pay off your debts because a trade war and inflation is coming. China, especially, will need food for a growing middle class and the oil to transport it.The rest of the world is pissed and will take retaliatory action. This can't continue.

All this printing press money will have to come home one way or the other and that means inflation. That means gold, food and oil continue to go nuts and we have to pay for the gangsters ride.

And pay we will!

Calculated Risk: NY Fed: Continued Decline in Consumer Debt
This is a new quarterly report from the NY Fed ... an interesting finding is that consumers are actively reducing their debt - the decline in debt isn't just because of defaults.

From the NY Fed: Q3 Report on Household Debt and Credit Shows Continued Decline in Consumer Debt

The Federal Reserve Bank of New York today released its Quarterly Report on Household Debt and Credit for the third quarter of 2010, which shows that consumer debt continues its downward trend of the previous seven quarters, though the pace of decline has slowed recently. Since its peak in the third quarter of 2008, nearly $1 trillion has been shaved from outstanding consumer debts.

Additionally, this quarter’s supplemental report addresses for the first time the question of how this decline has been achieved and notes a sharp reversal in household cash flow from debt, indicating a decrease in available funds for consumption. According to newly available data through year end 2009, the payoff of debt by consumers reduced their cash flow by about $150 billion, whereas between 2000 and 2007, borrowing had contributed more than $300 billion annually to consumers’ cash flow.

Excluding the effects of defaults and charge-offs, available data show that non-mortgage debt fell for the first time since at least 2000. Also, net mortgage debt paydowns, which began in 2008, reached nearly $140 billion by year end 2009. These unique findings suggest that consumers have been actively reducing their debts, and not just by defaulting.

Sunday, November 07, 2010

No cure for the coming bust..

Boom and bust know no cure. better figure a way to survive the next 5 to 10 years. A couple of trillion in printing press money comes home and bites us in the ass. Then we bust even worse than 2008.

Under a fiat system the "connected" make out just fine. They get their hands on the money and great jobs first. By manipulating the system they stay on top. Savers and retirees get it in the ass.

Expect borrowing binge to redevelop as the printing press money comes home after taxes are lowered for the gangsters who got us in this mess.

Oh yeah, did you notice that the scummy politicians who got us into this mess, Pelosi, Reid, Bonier, McConnell,Frank, and even Rangel and Waters  are still there?

Pretty convenient don't you think?

Is a Balanced-Budget Amendment Desirable? « LewRockwell.com Blog
Actually, it’s just Republican eyewash, since the federal government does massive “off-budget spending.” That is, the official deficit is always far smaller than the increase in the national debt. I do not believe there is any political solution to what the evil entity in DC has foisted on us, nor am I fan of process reform in general, but here is one idea that, if it could ever be enacted by some fairy godmother, would make sense: freeze the national debt. But even that wouldn’t cure our ills. We need to follow Ron Paul’s advice and end the wars and the empire. That is step one to fiscal and moral sanity.
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Friday, November 05, 2010

Well...At least California and New York like Oba mama....

These states are in the toilet for the foreseeable  future. Good thing they can beg Congress for more money, Right?


 My bad. I don't think Polosi, Barney frank, et al are going to be doing much for the unions and criminal element in the Dem party for awhile.

Maybe they borrow from all those rich greedy tycoons on Wall Street? Yea right.
O.k. maybe they can export their prison population to other states and reduce their spending. Oh yea, they've been doing that at 300 million or so a year. Imagine paying more income taxes and getting less back than the Red states and then paying these states 300 million to take care of your fuck ups.

Better pray for the next boom!

P.S wasn't Jerry Brown instrumental in the Nader for president under the Green Party? Al Gore remembers. I told you the Dems are nuts, didn't I? Or was that brain dead.


Thursday, November 04, 2010

Hail Caesar.....

Half a dozen airplanes to fly Oba mama and kiddies to India? Does India have any of our oil? What the fuck are the thinking?

At least he left the country! LOL

Barack and Michelle's Mumbai darshan plans - The Economic Times
To ensure fool-proof security, the President’s team has booked the entire the Taj Mahal Hotel, including 570 rooms, all banquets and restaurants. Since his security contingent and staff will comprise a huge number, 125 rooms at Taj President have also been booked, apart from 80 to 90 rooms each in Grand Hyatt and The Oberoi hotels. The NCPA, where the President is expected to meet representatives from the business community, has also been entirely booked.
The officer said, “Obama’s contingent is huge. There are two jumbo jets coming along with Air Force One, which will be flanked by security jets. There will be 30 to 40 secret service agents, who will arrive before him. The President’s convoy has 45 cars, including the Lincoln Continental in which the President travels.”

Wednesday, November 03, 2010

Store sales still down at my Walmart....

Hours cut. Store manager demoted and transferred out. No hiring for the Xmas season. We're going to need more than the Repubs in charge of the House to fix this mess. Especially as there is no real change in the Senate as the Dems who created this mess are still there and in charge.

 Seems to me the country is just thrashing around looking for the "magic vote" to save the unsalvageable and that didn't happen. Can't happen. Reforming this mess would be against the will of the people.

Everybody wants to keep their check!

Soon my whole generation, 60 million or so, will be getting their Social Security checks, and with the rest of the WW2 generation, let's say 20 million , we will rule Washington. This voting block can't be overcome. The geezers social programs are going to take most of the tax money coming in and the borrowing for many years to come.

This simple fact means that what we have no real change coming without revolution.

And that's many years away because well fed people don't do a whole lot of violent revolt. So it will be business as usual and expect minor tinkering. For instance one thing that has to be faced is trade deficits. Giving trillions of dollars to foreigners without a means to earn it back is economic doom. But the big money boys who buy the politicians are making the rules on protecting their assets. So with the campaign financing coming from these multinational corporations, foreign and domestic, expect no real change there

Another is that we are so dependent on oil in the Middle  East because the left wing nuts in the country won't let us drill here. Therefore we will continue the military conquest and control of our oil supplies. No one on the planet can stop us from  killing everybody who fucks with us even if the squeamish among us  don't think its a nice thing to do.

As long as we control all outer space, the seven seas, all airspace, everybody's money supply, all international food supplies routes and any thing else we deem an American vital interest we can take anything we want.

And we can! Which is what all Empires end up doing.

P.s what the good of an Empire if we don't use it?


Consumers Issue a Cautious Christmas Spending Forecast
The $25 decrease in Americans' holiday spending intentions between October 2009 and October 2010 (not a statistically significant change) contrasts with a $61 year-over-year reduction in intended spending found last October and a $108 reduction found a year prior.

The muted nature of this year's decline is reflected in consumers' own evaluations of their spending changes. According to the Oct. 7-10 poll, 27% of Americans intend to spend less on Christmas gifts this year than what they spent last Christmas -- higher than the 11% who now say they will spend more, but down from the 35% and 33% in 2008 and 2009 saying they would spend less. Prior to the recent recession, Americans were much more closely divided over whether their holiday spending would exceed or trail their spending of the prior year, while more said their spending would be "about the same."


Tuesday, November 02, 2010

Obamama's ass is saved....

Thanks to Republicans. When the economy picks up he can remind people how we got into this mess and he got us out. Yes investor and consumer confidence soars and the boom ignites as trillions is wrote off and trillions of dollars comes home  after the new corporate tax cut that's coming.

Gridlock saved Clinton it will save Oba mama. It will not be fun for the left wing nuts who swooned over him and kissed his ass and stood in line to suck him off. I expect a lot of new Democrat faces a couple of years from now as the voters find out that voting doesn't mean shit.

But we knew that, didn't we?

Monday, November 01, 2010

I would prefer debt forgiveness......

Debt moratoriums would probably bankrupt the big banks.

Sounds like a plan!

But since the big banks  borrow at 0% interest and lend at between 4% and 29% little money would be lost except for their overhead. So they unemploy  a few thousand bankers to compensate.

Serve them right!

But I'm betting the government buys the rest of the junk mortgages and saves their ass from lawsuits which will kill them. If they don't own this shit they can't be sued.

And the Fed can't be sued. The mortgages then either get paid off by investors buying the underlying assets, given away  or the houses get bulldozed.

Problem solved!

Accounting Identities - NYTimes.com
Oh, and widespread debt forgiveness (or inflating away some of the debt) would solve the problem.

But what we actually have is a climate in which it’s considered sensible to demand fiscal austerity from everyone; to reject unconventional monetary policy as unsound; and of course to denounce any help for debtors as morally reprehensible. So we’re in a world in which Very Serious People demand that debtors spend less than their income, but that nobody else spend more than their income.

And the slump goes on.