This explains the real motivation behind TARP:
"For anyone who wondered if last winter's federal seizure of the financial services industry would have adverse economic consequences, an answer is now available. The credit market has been tilted to favor a single borrower with a huge appetite for money, Washington. Private borrowers, particularly small businesses, have been sent to the end of the queue.I still think it was a coup. Here's what government thinks our real debt is:"A number more relevant to what the government is actually demanding from the capital markets is the Treasury's financing requirement. At a recent Chartered Financial Analyst Institute conference, Treasury official Karthik Ramanathan proudly described the prodigious fund-raising task he and his colleagues pulled off in the fiscal year, what one might call a borrowing feat unparalleled in human history: "In the course of 291 auctions in 251 business days, Treasury issued nearly $7 trillion in gross Treasury marketable securities to raise approximately $1.7 trillion to finance the government.""And you thought the recession was over.
The Federal Reserve, which supervises some 7,000 banks, has been telling bankers that they must cut risk. The most spectacular step in that effort was the Fed announcement last month that it will evaluate the salaries of bank officers on how carefully they manage risk.
By official definition, Treasury securities are risk-free, so how better to manage risk than to pad your bank's portfolio with Treasury securities, which is what bankers are doing. Under the new management from Washington, bankers who take a flyer on a venture that might some day become an Apple, Microsoft or Google will risk not only their depositors' money but a possible pay cut. Banking has been captured by the nanny state, which means that its potential for contributing to economic growth and job creation has been sharply curtailed, even as its potential contribution to government growth has been expanded."
ECONOMY:
This video showing growing unemployment by county is just depressing. Thanks, government.
Whenever a new, tallest skyscraper is built, a major recession follows. The idea behind this is building the world's tallest building is a bubble activity fed by loose monetary policy. Dubai is the latest prediction to come true. China in 2012 is next on the list.
TAX AND SPEND:
Obama only spent 22 percent of his stimulus boondoggle before the end of fiscal 2009. He still has some $500 to buy more votes, and you know he's going to spend it well.
When on the wrong side of the Laffer curve, cutting taxes increases revenue just like the supply-siders predicted. But that's not a good reason for cutting taxes. The priority should always be to cut spending and cut taxes to compensate for the lower spending levels.
HEALTH CARE:
Tax on cadillac health care plans will hit the middle class. You can just hear Obama laughing at all the idiots who believed he was going to cut taxes for the middle class.
20 good things about our health care system.
After correcting for accounting gimmicks and hidden costs, the actual cost of Obamacare to the American people? About $6.5 trillion over 10 years.
America leads the world in medical innovations, at least until Obama and Democrats get their way.
Why Republicans have failed to oppose the individual mandate for health care and how that failure has enabled the Democrats to reach the the finish line.
"A mandate will fundamentally alter the relationship between Americans and their government. Instead of the government being accountable to them, they will become accountable to their government. No less than the Congressional Budget Office—a non-partisan government agency—once admitted as much. "A mandate requiring all individuals to purchase health insurance would be an unprecedented form of federal action," it noted. "The government has never required people to buy any good or service as a condition of lawful residence in the United States."If the government can force Americans to buy coverage on the threat of fines or even imprisonment—an option that Nancy Pelosi has pointedly refused to rule out—every other government diktat becomes small potatoes by contrast. In fact, it becomes necessary. If uninsured Americans must buy coverage, why shouldn't other Americans be taxed to subsidize them? Why shouldn't the insurance industry be required to sell them coverage? Why shouldn't government set insurance prices to ensure affordability? Why shouldn't doctors and hospitals be asked to charge only "reasonable" rates—or offer only government-sanctioned treatments? Nothing about ObamaCare fundamentally changes so long as the individual mandate remains intact.
Therefore, instead of wonkishly droning about the public option, Republicans should counter Democrats' grand appeals for "universal coverage for all" with equally grand appeals for "medical freedom for all." They should stand together on the Capitol steps and issue the health care equivalent of Reagan's Berlin Wall ultimatum: "Mr. President: Tear up this mandate."
During the campaign, Obama himself successfully stopped poor Hillary dead in her tracks by reminding voters at every turn of her tyrannical plans to force them to purchase coverage. So why aren't Republicans doing the same to Obama?
The main reason is that they themselves are deeply conflicted about the mandate. On the one hand, every Republican on the Senate Finance Committee voted against it—except, of course, for Maine's Sen. Olympia Wavering-Heart Snowe. On the other hand, many Republicans, led by their intellectual lights at the conservative Heritage Foundation, among others, have long accepted—no, championed—the notion that unless people are forced to carry insurance, freeloaders who land in emergency rooms will cripple the health care system. Legislate personal responsibility, in other words. It was a Heritage plan for forced coverage that formed the blueprint for the Massachusetts universal care debacle that the then Republican Gov. Mitt Romney enacted."
Thanks, Heritage Foundation. This is just another reminder that conservatives, liberals-lite, are no friends of freedom.
Reason tells us women and their doctors, not bureaucrats, should decide when to get mammograms.
WAR ON DRUGS:
SURVEILLANCE STATE:
DHS intercepts strategy guide for roleplaying game about taking over the planet with miniature monsters.
WAR:
Fort Hood shooter considers insanity defense. I would say all jihadists are insane, but that shouldn't protect them from the consequences of their killing sprees.
Three navy seals charged with assault because terrorist they captured ended up with bloody nose. You got to be kidding me. Waging war against our troops and intelligence personnel is going to produce predictable, bad consequences - they're going to start killing the terrorists instead of capturing them, and we're going to get a lot less info, making the wars longer and more bloody.
POLITICS:
Boortz breaks down Obama's lack of approval ratings.
Thomas Sowell explains,"No one will really understand politics until they understand that politicians are not trying to solve our problems. They are trying to solve their own problems-- of which getting elected and re-elected are number one and number two. Whatever is number three is far behind."Once you realize that, politics becomes easy to understand. Barney Frank is a walking, talking beacon of corruption and his continued re-election is a national scandal and embarrassment. Frank, Chris Dodd, Charlie Rangel and Harry Reid seem to be the most corrupt in a sea of corruption. At least Reid's re-election bid is in trouble.
We pay politicians to lie to us, but I dispute that we do so unwittingly. Everybody knows the old joke about how you can tell when a politician is lying. His lips are moving. Everybody knows it's true, so there's nothing unwitting about it. We knowingly pay politicians to lie to us. We've just been stupidly conditioned over the last century to walk into the booth and pull the lever next to the R or D. When election time rolls around, the vast majority of voters check their brains at the door and follow their programming to our great detriment.
MISC:
Facts the government doesn't want you to know about executive compensation - it's much more closely tied to corporate performance than reported.


