Not a snowballs chance .....

We'll kill this subsidy to the rich when Oba mama becomes born again.  Even the Dems aren't this stupid. This handout is for the real estate industry and the rich who pay for such a large piece of the political  campaigns.

Remember you have to have over 11 grand of interest on your house payment yearly  to qualify for this gimmick and  have a house mortgage of somewhere around   $160000 at today's interest rate.

This usually is around the price level for most starter homes in most of America and effects 20 million voters or so.  So changing it is so much hot air. None of these clowns in Washington are that brave.

Trust me!

However, any attempt to means test the measure  because the wealthy  have billions in interest deductions on their mansions is doomed to failure .  After all  the politicians would have to take a hit in their own taxes and then try to explain to the sheep back home why they raised taxes during a depression.

Not going to happen.

A better bet is more gimmicks, handouts, credit extension games, bailouts, bitching about consumers saving too much  and especially whining about rich people ripping the government off.

There's probably a lesson there somewhere.


White House Continues Press For Elimination of Mortgage Interest Deduction

To my real estate friends; agents, brokers, homeowners, et al., this is a serious threat to an industry that is just now trying to get it’s feet underneath it.

The White House and Congress see the 100 billion dollars a year that goes to homeowners and want to spend it on their own projects. They have realized they are spending way to much money and the deficits are growing out of control.

How out of control? Let’s talk nearly 20 trillion dollars in debt by 2015.

Now they are not going to stop spending. Spending means power in Washington, so instead they are doubling down. Taxes are going up, tax breaks are being removed, and every possible revenue source is being examined.

This includes the Mortgage Interest Deduction for Homeowners.

We need to keep an eye on Congress and the White House. They know they are in trouble and could lose control of the process by January. If this is the case, they may push through a host of changes to our tax code in the coming months.

The popular tax break for mortgage interest, once considered untouchable, is falling under the scrutiny of policymakers and economic experts seeking ways to close huge deficits.

Although Congress last year rejected the White House’s proposed cut to the amount wealthier taxpayers can deduct for home mortgage interest payments, the administration included it again in its 2010 budget — saying it could save $208 billion over the next decade.

And now that sentiment has turned against all the federal red ink — and cost-cutting is in vogue — Democrats on President Barack Obama’s financial commission are considering the wisdom of permanent tax breaks such as the mortgage deduction and corporate deferral. Calling them “tax entitlements,” senior Democratic lawmakers have argued they should be on the table for reform just like traditional entitlement programs Medicare, Social Security and Medicaid. … via The Hill

We have oil coming out of our asses....

Oil producers scam us in to believing oil is scarce. They have been saying this for over a hundred years. Whether it's DDT which wiped out malaria for awhile, Alar on fruit wiping out poor farmers in Chile, Global warming bullshit, oil gushers wiping out sand fleas on the beaches, little girls with nit wit parents getting lost on sailboats etc. the established order marches on.

Pretty soon, (20012 maybe?)  since Iran insists on obliterating Israel, the world will get a break from this shit and the pelicans, polar bears, honey bees, seals, and all the rest of the DOOMED critters the media makes money bitching about make a wondrous comeback.

But oil spills go away, the planet warms or cools, mysterious chemicals kill people we've never heard of, and animals disappear no matter how much we listen to the purveyors of truth like all the  non stop scare mongering as soon as we quit buying it!

Did I tell you people watch too much TV! No wonder they believe this as gospel. TV makes millions scarying  the fuck out of people and  theses morons educated by the government fall for it every time. Hell they think Oba mama is qualified, because he's black, for President! That should clinch the argument. 

You can't believe a word these guys tell you!


"Gulf Oil Spill ‘Could Go Years’ If Not Dealt With" by F. William Engdahl. FSO Editorial 06/10/2010

According to Kutcherov, a leading specialist in the theory of abiogenic deep origin of petroleum, “What BP drilled into was what we call a ‘migration channel,’ a deep fault on which hydrocarbons generated in the depth of our planet migrate to the crust and are accumulated in rocks, something like Ghawar in Saudi Arabia.”3 Ghawar, the world’s most prolific oilfield has been producing millions of barrels daily for almost 70 years with no end in sight. According to the abiotic science, Ghawar like all elephant and giant oil and gas deposits all over the world, is located on a migration channel similar to that in the oil-rich Gulf of Mexico.

As I wrote at the time of the January 2010 Haiti earthquake disaster,3 Haiti had been identified as having potentially huge hydrocasrbon reserves, as has neighboring Cuba. Kutcherov estimates that the entire Gulf of Mexico is one of the planet’s most abundant accessible locations to extract oil and gas, at least before the Deepwater Horizon event this April.

You don't think the government is lying, do you?......

Nah! 

They claim the depression is over. (Just don't call it a depression.) Of course the numbers tell us something different.  The economy isn't creating jobs, real jobs that is, in most areas of the country. Here in Northern Idaho Canadians and a few summer visitors have showed up and Walmart in store sales are up  3% more than last spring.

But last Spring was horrendous! Anything looks better than last year. But it remains to be seen, if housing doesn't improve without government gimmicks and handouts, if the local lumber industry ever recovers.

But thanks to free trade and  environmental regulations here, Canada stands to produce plenty of wood products for our market and the local companies will not get much of a chance to get back into the game.

Therefor, the clowns in Washington should behappy as they hate lumber and mining. Just like they couldn't wait to close down the oil industry they have been have been eviscerating the timber industry.  You wonder if they get their way on destroying our economy if anyone will have any reason to create any jobs at all.

Or is that the idea? Take us back to windmills and bicycles and everyone lives happily ever after living on peace and love. I guess we'll see.


Social Security Payouts Are Already Crippling The Government This Year

I am stunned by the continued drop in FICA/SECA tax receipts. There are many metrics on the overall economy that have shown YoY improvement. The SS revenue numbers are telling us something different. They measure the incomes of 160 million workers. This is the broadest definition of employment we have. My read on the numbers is that we have very fundamental weakness in employment. The problem is bigger than the headline numbers from the BLS suggest.

-The payroll tax revenues versus the benefits paid number lines have crossed. Some, including the CBO, see this as a temporary phenomenon. I disagree. For there to be a return to a positive result of (payroll tax revenue – benefits) the economy would have to grow on a sustained basis at 5% and inflation would have to remain near zero. Those conditions are unlikely to be met.

-The estimated $50 billion of negative cash flow to be realized in the second half of the year is just more money that Treasury has to borrow. It does not, by itself, increase our total indebtedness. It is a shift between the Intergovernmental and Debt to Public accounts. Does an extra 50 Bil matter when the total the public holds is already 8.6 Tril? No, not really. Not as of today at least. But when the tables turn and the markets focus on the US bond/bill calendar it will make a difference.

-All heavily indebted borrowers, whether they be individuals, corporations or sovereigns are highly dependent on cash flow to service debt. When cash flow goes negative individuals and corporations go bankrupt. Most sovereigns do too. The US is in the enviable position of being able to ignore cash flow. We can simply print our way out of this problem. At least some people think we can.

-SS is $2.5T of the $4.5T Intergovernmental account. I believe that this entire group is going cash flow negative. The IG account cost us ~$160 billion in interest last year, but some out there are pretending the IG account does not exist. An example of this is in the following link.

Jesse Jackson wants a boycott on BP oil.....

I wish I had a BP station around here so I could fill up everytime I drove by. Jackson is a nut who needs to be in prison because he's corrupt and I'm sure he'll be at the BP headquarters and getting some extortion money as that's what he does.

After all he represents all those big spending "welfare queens" and pathetic liberals who never had real jobs.

Oh yea, you think Oba ama will give back BP's Money?

Nah!!

What's $260 million matter....

When you're bankrupt. Yes, LA  is inhabited by the insane. How else would you explain these nut jobs blowing this kind of money on Yuppie nuttiness.


Mayors Beat World Leaders Promoting Cycle Paths (Update1) - Bloomberg.com

June 4 (Bloomberg) -- Los Angeles: city of freeways, smog, and -- bike lanes?

That’s where Mayor Antonio Villaraigosa wants to take his town. In one of the less likely transformations in the global effort to cut carbon output, Los Angeles plans to spend $230 million on 1,700 miles of bicycle paths, Bloomberg Businessweek reports in its June 7 issue.

Most of the program will be completed by 2015, and includes changing rooms, showers, and bike storage areas operated by the city and private partners, the city’s Web site says. It comes on top of subsidies for installing solar panels and incentives for planting trees and switching to electric vehicles.

“We have to make a change,” says Michelle Mowery, senior coordinator for the city’s bike program. “We can’t fit any more cars in.”

From the freeways of Los Angeles to the canals of Amsterdam, cities are taking the lead in the fight to reduce carbon-dioxide

Bonus came in.....

$266 a piece. Sales better than last year but last year was horrendous. Hopefully it will continue so my Walmart stock will recover.

For now I'm skeptical.

Patti and I celebrated 40 years yesterday. Took a boat trip. Now I'm shopping for a cabin cruiser. LOL

What happened to crash the Derivitives?......

Gas prices went nuts, remember? People couldn't afford any extra expenses because they were in debt up to their eyeballs. Then when their mortgages increased through their contractual interest rate adjustment something had to give. Most of these just people quit paying. Therefore, it wasn't long before no one was buying house, cars, furniture, stocks, bonds etc. and began paying off their debts.

A slowing of spending and the whole rotten shit house came down. But with any luck we'll re-inflate and within 5 or 10 years when the "boomers" retire the next bust will make this one seem pretty tame.

If we make it that far, of course.  (lol)


Forget About Housing, The The Real Cause Of The Crisis Was OTC Derivatives

Officially, roughly $604.6 trillion in OTC derivative contracts, more than ten times world GDP ($57.53 trillion), hang over the financial world like the sword of Damocles, but to the average investor the derivatives bubble is invisible. From the perspective of those outside the bubble, the explosion of OTC derivatives is a mania.

The inherent lack of transparency in OTC markets impairs price discovery and obviates the efficient markets hypothesis, i.e., that financial instruments are almost always priced correctly, thus OTC derivatives and the risks associated with them may be priced incorrectly, as in the case of American International Group’s CDS contract premiums.

No rot here.....

Just criminal behavior as usual. Won't change so why report it?

By the way, do you think anybody gives a shit if Oba mama tours the Gulf Coast?


Report: More than 1,400 former lawmakers, Hill staffers are financial lobbyists

Even for Washington, the revolving door between government and Wall Street spins at a dizzying pace. More than 1,400 former members of Congress, Capitol Hill staffers or federal employees registered as lobbyists on behalf of the financial services sector since the start of 2009, according to an exhaustive new study issued Thursday.

The analysis by two nonpartisan groups, Public Citizen and the Center for Responsive Politics, found that the "small army" of financial lobbyists included at least 73 former lawmakers and 148 ex-staffers connected to the House or Senate banking committees. More than 40 former Treasury Department employees also ply their trade as lobbyists for Wall Street firms, the study found.

Our sales up.....

Last quarter WallyWorld sales up a couple of percent and we got a 40$ in store bonus. This quarter we're up 5 or 6 % and we are getting over $200. Sales have been ok but not great, but compared to last year, we seem to be pretty busy.  I think the local economy is still weak as we are so dependent on logging which sucks thanks to poor new housing starts. Be awhile before the banks and government can clear out all those millions of foreclosures that still have to be dealt with and then people can buy the more expensive new houses.

Meanwhile, my neighbors sold their mobile home for $35000 in less than a week putting it up for sale. Private sale no Realtor. I paid $210000  for mine which is at least comparable so I may sell and find another even though I like no payments on it. Or I might put it on a lot here in town and refinance the equity in a year or two then sell and buy another fixer.

That is if the economy finally booms which I still believe is coming. Always does after a crash as the government cranks up the presses  and can't slow the money supply in time.

Main thing is how long will oil prices stay this low. The last boom, remember, came to a screeching halt when oil hit $140 a barrel. After all said and done, broke dicks can't afford their debts, toys, vacations, pensions, health care, houses, etc. without driving to work every day.

Of course, Bush wont be there for Oba mama to blame so, we'll just have to go back to blaming foreigners I guess. After all, it's always been good politics to kill our enemies and make a buck.

This guy has it right.....

The economy is now on life support from government stimulus. We have to remember that stimulus 1 from last year pumps a lot of money into construction for early 2011 to save Oba mama.  The economy is slowing again as Fed funds are pulled in fear of a political backlash from fear of deficits killing careers in Washington.

Remains to be seen but I expect a second dip without another massive cash input from the Fed before then.

If not,  next time it will be the Republicans turn because I don't think the Dem's are going to be in charge much longer.  Of course Oba mama runs for reelection against another nobody in about 18 months and it will probably be business as usual.

Expect a lot of bullshit about deficits, not killing enough Moslems and especially we need more windmills to drive our SUVs.  Just pray these morons don't close down the rest of the oil industry in America because we have proven again that we do a lousy job at civilizing brown people who fight with sticks and rocks.



International Forecaster June 2010 (#1) - Gold, Silver, Economy + More

We believe an inflationary depression began in February of 2009, and little has changed. Since then factory output has increased, as have inventories and other outward signs, such as retail sales. We believe that one-year spurt is ending, unless a new stimulus program is put in place. This past week we saw a $78 billion addition to unemployment benefits and Larry Summers has said they need an additional $200 billion. In order to keep the economy going sideways a total of another $800 billion will be needed. The Fed may have cut back the creation of money and credit to zero, but it is still dishing out trillions to domestic and foreign banks, which can only affect the domestic economy in a residual way. The key is real personal income. Including government programs it has fallen $500 billion over the past 16 months. In addition real unemployment remains at a high of 22-3/8%. That is U-6 less the birth/death ratio. This terrible dilemma is a first and is surprising in as much as government addition to income has gone past 18% for the first time ever. We expect that part of the reason for both situations is the perpetual drag of free trade, globalization, offshoring and outsourcing, which has continued unabated.

May we at least send the gay guys?.......

They at least have more balls than the losers in the Congress.

Hell, my old lady has more balls than the assholes in Congress.

Senate says no to 6,000 border troops - Washington Times

Senate Democrats managed Thursday to block deployment of 6,000 National Guard troops to the U.S.-Mexico border, but the proposal still garnered a majority of senators, showing widespread support for a border-security-first strategy and underscoring why President Obama is having difficulty trying to win an immigration-legalization bill.

The vote flustered Democrats, who seemed uncertain how to handle the proposal and were reluctant to defy Mr. Obama, who just this week proposed that a much smaller 1,200-troop force be deployed.

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.

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.

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.

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 - ReviewJournal.com

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.



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"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."

OK. It's not a black joke.......

Thanks to icanhasacheezburger.com .

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.” CNNMoney.com 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.

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

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.

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.

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."

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.

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

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 - Bloomberg.com

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.”

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 - WSJ.com

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.

Hey! You've only lost a ton of money......

Walk away from your mortgage!

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.

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."

Kierán 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.

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%.

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.

Mobile home now paid in full.......

One less personal debt to worry about and retirement just got a little closer. A few thousand more for credit cards and I'll be set. Even though Patti has a student loan payment I'm sure we can afford $62 a month. I won't pay it off because it's her strongest credit reference. The payment amount is immaterial in FICO scoring. The older it is  (and as long as it's never late,) the better.

In 2.5 years we've gone from homeless to middle class with a free and clear roof over our heads and I intend to stay that way at least until I'm debt free. However, this doesn't mean I won't borrow for investment or business purposes. If you go bust in a business it can be structured not to touch a home or retirement funds. And the easiest way to prevent going broke is not to carry personal debt!

I think I'll be able to make $190 a month lot rent and maybe a hundred a month in utilities as fixed expenses. Even on Social Security. Not that I have a lot of faith in that check ever showing up.

Anyways, with a FICO score bumping 750  a debt to income ratio bumping 18% with 3 years on the job I'll have lenders falling all over themselves to lend me money.

I'm still calling the bigger bust in 5 to 10 more years. It will be a killer with government debts world wide in the trillions.

Unless 2012 wipes us out, right?

Another great example for not voting Republican...

Another is all the nonsense of cutting off wasteful funding  to ......

Take your pick. If you vote you have to choose between to parties that lie consistently to the voters.


The Republican Party and Planned Parenthood « LewRockwell.com Blog

I have seen it reported in several places that Planned Parenthood, one of the world’s leading abortion providers, received government grants and contracts of $350 million for fiscal year 2007-2008 and $337 million for fiscal year 2006-2007. I verified this information for myself on the Planned Parenthood website. I also discovered that Planned Parenthood’s fiscal year ends on June 30. This means that Bush the Republican was the president during this time. But after doing a little digging, I also found out that Planned Parenthood received government grants and contracts of $305 million (34%) during fiscal year 2005-2006. During this time we not only had Bush the Republican president but also a Republican majority in Congress. Yet, Planned Parenthood was still funded. And we are supposed to take Republicans seriously when they complain that Obama isn’t likely to appoint an anti-abortion judge to the Supreme Court? Why wasn’t the Republican Party that concerned about abortion when clinics affiliated with Planned Parenthood performed 264,943 abortions in 2005?

Am I psychic or what?......

Na... All you need is a little memory and a small grasp of history. Our whole food production industry is controlled by 4 large companies and 4 others control the distribution. What's more these companies are controlled by oil prices.

Oil is controlled by?


Daily Digest - Daily Digest - April 22 - Apr. 22, 2010 - Blogs at Chris Martenson - Daily Digest, Economy, Energy, environment

"WASHINGTON (AP) -- Wholesale prices rose more than expected last month as food prices surged by the most in 26 years.

The Labor Department said the Producer Price Index rose by 0.7 percent in March, compared to analysts' forecasts of a 0.4 percent rise. A rise in gas prices also helped push up the index.

Still, there was little sign of budding inflation in the report, which measures price changes before they reach the consumer. Excluding volatile food and energy costs, wholesale prices rose by 0.1 percent, matching analysts' expectations.

Told you I was psychic didn't I.....

As I for told  last year or so the only thing that will save us debt moratorium. Looks like the courts are on it. That means if the gangsters can't prove they own the note on your house, they eat it.

Works for me. Have to get rid of all those repos somehow without taking out the banking system. So the banks cover their losses by bailout money and tax gimmicks and the loans disappear.

read the following:

A colleague forwarded me an important decision this morning that has just been handed down by the DISTRICT COURT OF APPEAL OF THE STATE OF FLORIDA, Fourth District, that is extremely helpful to foreclosure victims in particular, or for others who want to challenge whether or not they are making payments to the “real party in interest,” i.e., the owner of their mortgage loan.

This decision is extremely important and should be utilized in all foreclosure matters whether in judicial or non-judicial foreclosure states. Without proper authentication and a full audit trail to prove who is the rightful owner and holder of the mortgage obligation, we are subjugating ourselves to a perpetual state of manipulation and fraud by the carpetbaggers and scallywags who are cleaning up the toxic waste dumped into our financial system by the derivatives mobsters. I particularly like the statement in the Decision:

As in BAC Funding Consortium, there are no supporting affidavits or deposition testimony in the record to establish that Aurora validly owns and holds the note and mortgage, no evidence of an assignment to Aurora, no proof of purchase of the debt nor any other evidence of an effective transfer. Thus, we reverse the summary judgment and remand for further proceedings.

This decision moves past the “Bogus Assignment” problem (a la the recently announced Department of Justice’s criminal investigation of Lender Processing Services and its subsidiary Docx, LLC) and focuses on the requirements of admissible evidence. This decision also harmonizes with the findings of fact and conclusions of law set forth in Massachusetts Land Court Judge Keith C. Long’s Memorandum in the U.S. Bank v. Ibanez and Wells Fargo Bank v. LaRace foreclosure cases.

By the way, the Massachusetts Land Court cases are on appeal before the Massachusetts Supreme Judicial Court. We are waiting for the Banks’ attorneys to file their Appellants’ briefs. Glenn F. Russell Jr. on behalf of the LaRaces, and Paul Collier on behalf of Mr. Ibanez will then have 30 days to write their Appellee briefs.

The Empire never sleeps.....

Our military-industrial complex rolls. No choice. Turn your back and let your guard down and the  natives fly airplanes into your financial center.

I predict that since Oba mama is playing ball with the Empire he's a shoe in for 2012.  Expect 2011 to be a boom year. Of course, quite a few Dem's are toast this year. Following the status quo means the left stays home this election cycle and they'll be pissing in the wind moaning over "betrayal."

They never learn!

oftwominds: My Country Went to Iraq and All I Got Was This Global Empire

Transcript (Three Days Of The Condor).

TURNER (REDFORD): Boy, what is it with you people? You think not getting caught in a lie is the same thing as telling the truth?

HIGGINS (ROBERTSON): No. It's simple economics. Today it's oil, right? In 10 or 15 years, food, or plutonium-- and maybe even sooner. What do you think the people are going to want us to do then?

Ask them. Not now. Then. Ask them when they're running out. Ask them when there's no heat and they're cold. Ask them when their engines stop.

Ask them when people who have never known hunger start going hungry. Want to know something? They won't want us to ask them.

They'll want us to get it for them.

So we went out and got it. As I described in The Fulcrum of the Mideast? (May 19, 2008) , the U.S. has neatly carved out a sphere of influence in the fulcrum of the mideast. Geography, demographics and energy will always dominate; please consider this map for clarification.

The U.S. Military is now another "tribe" in Iraq. It is a hyper-violent, resourceful tribe which made a number of beginner's mistakes which have now been largely corrected, usually at the rank of Army or Marine captain--those officers on the ground who interact with other tribal leaders.

Nice fairy tale.....

Almost as bad as Jesus did it. You notice upon reading the following that he never explains where the gene could have come from or why wouldn't the surviving moths be black and blend in and not be so easily eaten. All these explanations of evolution are simply a grasping at straws.

Not that the Bible does any better! So lay off the flame wars.

Introduction to Evolutionary Biology

The English moth, Biston betularia, is a frequently cited example of observed evolution. [evolution: a change in the gene pool] In this moth there are two color morphs, light and dark. H. B. D. Kettlewell found that dark moths constituted less than 2% of the population prior to 1848. The frequency of the dark morph increased in the years following. By 1898, the 95% of the moths in Manchester and other highly industrialized areas were of the dark type. Their frequency was less in rural areas. The moth population changed from mostly light colored moths to mostly dark colored moths. The moths' color was primarily determined by a single gene. [gene: a hereditary unit] So, the change in frequency of dark colored moths represented a change in the gene pool. [gene pool: the set all of genes in a population] This change was, by definition, evolution.

The increase in relative abundance of the dark type was due to natural selection. The late eighteen hundreds was the time of England's industrial revolution. Soot from factories darkened the birch trees the moths landed on. Against a sooty background, birds could see the lighter colored moths better and ate more of them. As a result, more dark moths survived until reproductive age and left offspring. The greater number of offspring left by dark moths is what caused their increase in frequency. This is an example of natural selection.

Populations evolve. [evolution: a change in the gene pool] In order to understand evolution, it is necessary to view populations as a collection of individuals, each harboring a different set of traits. A single organism is never typical of an entire population unless there is no variation within that population. Individual organisms do not evolve, they retain the same genes throughout their life. When a population is evolving, the ratio of different genetic types is changing -- each individual organism within a population does not change. For example, in the previous example, the frequency of black moths increased; the moths did not turn from light to gray to dark in concert. The process of evolution can be summarized in three sentences: Genes mutate. [gene: a hereditary unit] Individuals are selected. Populations evolve.

Evolution can be divided into microevolution and macroevolution. The kind of evolution documented above is microevolution. Larger changes, such as when a new species is formed, are called macroevolution. Some biologists feel the mechanisms of macroevolution are different from those of microevolutionary change. Others think the distinction between the two is arbitrary -- macroevolution is cumulative microevolution.

Did you ever wonder why your check didn't go up ......

If your check increase is based on the CPI it didn't increase to keep up with inflation. The government cheated you out of it. Probably gave the money to the losers who didn't pay for their house. Or gave it to the fat cat gangsters who make sure both political parties stay in charge.

Oh I forgot, you did get a couple of bucks in "stimulus money." Now they have to raise your taxes to cover it. Kind of takes the thrill out of voting, doesn't it?

Bet on it!


Food Costs up 2.4% In a Single Month

Since March 2009, the stocks and commodities have soared - and investors have been thrilled.

While many attribute this rise in valuations to economic recovery, some believe that rising costs are a direct result of the monetary expansion by the Federal Reserve, resulting in price inflation on certain goods, namely those assets such as commodities, which are not considered debt-based (i.e. cars, houses).

The Labor Department reports that prices in the month of March rose across the board:

There was little sign of budding inflation in the report. Excluding volatile food and energy costs, wholesale prices rose by 0.1 percent, matching analysts’ expectations.

Oba mama to crackdown on Wall Street......

Yea, right. Might start with firing half his advisers and staff who worked to get us into this mess in the first place and will go back to the scene of the crime to continue the scam.

Of course, we get exactly the government the rich pay for. No matter the party. But what else is new?


Michelle Malkin » All the president’s Goldman Sachs men; Update: A look at the White House visitor logs

– Goldman Sachs partner Gary Gensler is Obama’s Commodity Futures Trading Commission head. He was confirmed despite heated congressional grilling over his role, as Reuters described it, “as a high-level Treasury official in a 2000 law that exempted the $58 trillion credit default swap market from oversight. The financial instruments have been blamed for amplifying global financial turmoil.” Gensler said he was sorry — hey, it worked for tax cheat Treasury Secretary Tim Geithner — and was quickly installed to guard the henhouse.

– Goldman Sachs kept White House Chief of Staff Rahm Emanuel on a $3,000 monthly retainer while he worked as Clinton’s chief fundraiser, as first reported by Washington Examiner columnist Tim Carney. The financial titans threw in another $50,000 to become the Clinton primary campaign’s top funder. Emanuel received nearly $80,000 in cash from Goldman Sachs during his four terms in Congress — investments that have reaped untold rewards, as Emanuel assumed a leading role championing the trillion-dollar TARP banking bailout law

Oh good. More bureaucrats......

We need more parasites
 

O’Reilly Tonight: Financial “Reform” « John Stossel

On The Factor tonight, Bill wants to discuss the pending financial “reform” bill. I put “reform” in quotes, because the 1,336 page bill is likely to do little more than create a new maze of unproductive regulation. Here are five new agencies the bill would create:

— Financial Stability Oversight Council
— Office of Finance Research
— Office of National Insurance
— Office of Credit Rating Agencies
— Bureau of Consumer Financial Protection

A “Bureau of Consumer Financial Protection” sounds nice. But the more (and the more loudly) government devotes efforts to protecting ordinary investors from Wall Street, the less incentive ordinary investors have to protect themselves. Pretend to remove the risk (or severely dilute the risk) of personally suffering financial losses, and ordinary, non-professional investors lose their incentives to personally exercise prudence, caution, and good judgment.

Bob Litan, writing for the Huffington Post, also points out that the bill restricts funding for start-ups:

This tax is inevitable........

One way or another. The gang in charge can't cut spending so they have to soak us. Therefor we can expect them to soak the rich. After all they then will get the blame and the gang lives happily ever after.

These 13 Senators Need to Be Sent Home for Supporting VAT

As government revenues plummet and spending sky rockets, Washington is looking for all manner of ways to further burden the American people with taxes, including the value added tax, which which is essentially a sales tax on consumption. In A VAT of Taxes for the Middle Class we discussed the problems with the VAT and how it would stifle small businesses and economic growth.

It seems the Senate agrees:

The Senate voted 85-13 Thursday to pass a nonbinding “sense of the Senate” resolution that calls the value-added tax “a massive tax increase that will cripple families on fixed income and only further push back America’s economic recovery.”

The issue came up because White House adviser Paul Volcker told a group in New York last week that taxes might have to be raised to bring budget deficits under control. He added that the value-added tax “was not as toxic an idea” as it had been in the past, according to a report by the Reuters news service.

The White House has distanced itself from the remarks, with officials saying that Volcker was not speaking for the Obama administration

I never liked the slimy son of bitch anyways......

Of course, I never liked any of our politicians.  Anyways here's the latest plan....
Raise our taxes because they think the  recession is over and we can all pay for their crimes..... Then again, for the gangsters who buy these guys it never started!


Anti-Idiotarian Rottweiler » Would Somebody Please Remind Us Who Let This Fuck Into the GOP

Just as tax day is upon us, the economy is in shambles and Ogabe Inc has put millions of Americans out of work not to mention footed countless future generations with a bill that will have to come due sooner or later, Lindsay Lohan Graham suggests that “hey, you know what would be really great now? Another tax, that’s what!”

WASHINGTON – Leading voices in the Senate are considering a new tax on gasoline, as part of an effort to win Republican and oil industry support for the energy and climate bill now idling in Congress.

The tax, which according to early estimates would be in the range of 15 cents a gallon, was conceived with the input of several oil companies, including Shell, BP and Conoco Phillips, and is being championed by Republican Sen. Lindsey Graham of South Carolina.

I firmly believe this guy is spot on....

Hate to agree with Oba mama's money bags but I do. And he's closer to the gang than I 'll ever be.  5 to 10 years is my prediction.......

George Soros Says Crash Imminent, But It Might Take 8 Years

Billionaire financier George Soros warns that we are creating another environment which will inevitably lead to a crash, but this time, it won’t be just stock markets and it will be an even bigger boom and bust than the recent credit crisis.

Via Reuters:

“Unless we learn the lessons, that markets are inherently unstable and that stability needs to the objective of public policy, we are facing a yet larger bubble.

“We have added to the leverage by replacing private credit with sovereign credit and increasing national debt by a significant amount.”

Though many contrarian analysts and investors have suggested that a massive economic catastrophe will occur sometime in the next 0 to 3 years, Soros is a bit more optimistic on time frame, according to Reuter’s Funds Hub:

One crumb of comfort could be the 10-year period between the 1998 Asian crisis and the 2008 credit crisis. If the pattern is repeated, it should at least mean we have another 8 years to go before the next crash…

Remember the Weathermen?.....

Government has to destroy the Tea party.  No choice.  Expect more attacks on Ron Paul. Especially after this new Rassmusen poll  predicting Paul is in a dead heat with Oba mama for 2012. Of course most people now believe.......

Big government is your wallet's enemy.


Future Tea Party ‘Incident’: You Saw It First on LRC « LewRockwell.com Blog

In reading Eric’s post, I can guarantee you that there are a lot of scared people in Washington, and I suspect that the Obama administration will step up its efforts to further have the FBI infiltrate the Tea Party movement. So far, we have seen a massive effort by the government and the mainstream media to falsely claim that the TP folks were hurling racial slurs at black members of Congress.

My sense is that the FBI will push even harder, trying to get some fringe people in the TP to “plan attacks” or something like that, and then the government will swoop in and make arrests, and the New York Times and CBS News will publicize it to no end. We have seen this kind of thing so many times before that what I am writing should not be shocking to anyone who reads this blog.

Government corruption world wide.....

Manipulate the stock market is one thing but screwing with the price of gold is another. S till, oil is the one to watch.  Did you buy some food? Come in handy. Heh heh.


In The News Today : Welcome To Jim Sinclair's MineSet

There is no silver lining to the activities of JPMorgan Chase and HSBC in the precious-metals market here and in London, says a 40-year veteran of the metal pits.

The banks, which do the Federal Reserve’s bidding in the metals markets, have long been the government’s lead actors in keeping down the prices of gold and silver, according to a former Goldman Sachs trader working at the London Bullion Market Association.

Maguire was scheduled to testify last week before the Commodities Futures Trade Commission, which is looking into the activities of large banks in the metals market, but was knocked off the list at the last moment. So, he went public.

Maguire — in an exclusive interview with The Post — explained JPMorgan’s role in the metals pits in both London and here, and how they can generate a profit either way the market moves.

Not often anything said on MSNBC is worth a shit......

Dylan Ratigan MSNBC exposes Federal Reserve Con - Part 1

Oil, oil, oil....

We only have to watch oil. Goes up everything costs more. Everything costs more less money for Chinese trinkets, I pads, taxes, house payments......

You get the idea. 2008 at $140 a barrel should tell us something.... like broke dick city at my house, hmm?


Oil, Not China, Is The Real Destroyer Of America's Trade Balance

UBS's head of Asia-Pacific economics argues that the real global trade imbalance isn't U.S.-China, it is U.S.-oil. As shown below, current account surpluses from fuel exporting-nations have been a far larger driver of total global trade imbalances coming from emerging markets.

China's current account surplus (in blue) has been large in recent years, as a percentage of the global economy, but it has been dwarfed by fuel exporters (in green):

Chart



Jonathan Anderson of UBS, via Caixin:

Looking at the movements from the late 1990s through 2006, when the overall U.S. deficit worsened from 2 percent of GDP to nearly 7 percent of GDP at the trough, a full three percentage points of that adjustment came from other advanced economies and from fuel imports; only two percentage points came from China and other non-fuel emerging markets. And the recent drop in the U.S. deficit had almost nothing to do with China; again, it was oil prices and developed trade that explains the entire swing over the past 18 months.

Heart attack is over......

Easter damn near killed me.

Didn't do much for Jesus either.

Thank God for insurance. I died and was resurrected by the medical team at the local hospital and then flown to Couer d' lene for  a stent.  5 days in the hospital and I'm back home. Now I get to fuck off for awhile.

Every tragedy has a silver lining.

This is our Congressman at work.....

You got to hear this moron to believe it.


Not An April Fools Joke: 8000 Additional Troops in Guam Might Sink the Island

A perfect example of government incoherence:

Rep. Johnson: Twenty four miles long, about seven miles wide at the least widest place on the island and about twelve miles wide on the widest part of the island. And, ugh, I don’t know how many square miles that is. Do you happen to know?

Navy Admiral: I don’t have that figure with me sir. I can certainly supply it to you if you’d like.

Rep. Johnson: My fear is that the whole island will become so overly populated that it will tip over and capsize.

Navy Admiral: We don’t anticipate that.

The response from the [unnamed] Navy Admiral is very controlled, but we have no idea how he kept from laughing in Representative Johnson’s face.

The most alarming thing about all of this, is that Rep. Johnson will probably be re-elected.

Same thing happened to me .......

1990 I got hired with paid training for census work. Same year the homeless didn't get counted. They couldn't get any "homeless" to apply, I guess. By the way, homeless don't vote, pay taxes, work or give a shit.

Heh heh.


Hot Air » Blog Archive » Hundreds of Census workers trained, paid … and laid off

If today’s employment report showed some mixed results, thanks to a temporary boost in Census Bureau workers for the decennial survey, then the news out of Northern Virginia may spell a disappointing April. Yesterday, hundreds of Census workers hired to go door-to-door in group home settings like dorms and prisons got pink slips after getting paid for three days of training. It turned “Census Day” into a particularly ironic April Fool’s joke