Boortz is thinking ahead. He says that the government is going to end up owning a bunch of houses in neighborhoods all over the country, which they'll inevitably convert into section 8 housing.
GM and Chrysler seeking another $21.6 billion in aid. Money for the auto industry is just a drop in the bucket of the bailout madness, and I wonder why its even news. I'm sure the savior Obama will throw more good taxpayer dollars after bad for automakers. Maybe the news should be that Ford hasn't requested a bailout. That's man bites dog.
I don't think anybody should ever use the name "Clinton" and "delicate diplomacy" in the same sentence.
Federal Appeals Court overturns ruling ordering 17 Guantanamo detainees to be released into the US. Thank goodness, but judges should not be making these decisions - the military should according the Constitution. Because the court overreached its bounds, the 17 men are in legal limbo and will be the latest cause celebre for liberals trying to free the terrorists to kill again.
Thanks to government's massive intervention in the economy, the Fed says the short term outlook is grim. So is the long term outlook with super-inflation looming.
The mark-to-market accounting rule that sparked this credit crisis is still in place. Because of the financial emergency, Congress passed the $700 billion TARP program and Obama's $787 billion stimulus boondoggle with no debate, the Fed has committed trillions more, but we have to have 2 studies done before anybody will use the stroke of a pen to change the mark-to-market accounting rule? This has to be a conspiracy. It's not possible that people of good will would allow this to happen.
Herz said the accounting board hopes to complete the study on improving guidance for applying the rules by the send of June.
George Will remembers the doomsayers predicting an imminent ice age in the 70s. All climate scientists agreed, or so they said, so it has to be true, right? Al Gore must have been in his formative years then.
I'm happy to hear that Obama does not support the Fairness Doctrine. Unfortunately, given Obama's other positions and his supporters' relentless attacks on free speech, I'm afraid that Obama is just looking for a way to change the name, as Democrats do so well, and push it that way.
Jury awards illegal immigrants $78,000 in lawsuit against rancher who rounded them up and turned them over to border patrol. This is crazy. Now the illegal immigrants have a new way to make money. Hope to caught by citizens and sue.
Muslim man who started Muslim TV station in US accused of beheading his wife. No doubt this is the kind of guy Muslims point to to show their normalcy for American life. Yikes. CAIR had previously given this man an award. NOW condemns.
Disabled men used practically as slaves for 30 years. Wow.
Anybody who thought a man who spent his entire adult life seeking out and surrounding himself with Marxists (Obama) would reduce the power of the presidency is stupid. And on the flip side, so-called civil libertarians need to acknowledge the Constitution grants the power to wage war to the executive alone. Doing so is not expanding the power of the president. It's meeting the constitutional responsibilities of the president. I'm a civil libertarian, and I understand that. Our government is not (or at least shouldn't be) some malleable thing that conforms to the desires of liberals or conservatives or libertarians or socialists. The law is the law, and the highest law of the land is the plain language of the Constitution. Libertarians who want to put their views above the law are as much the problem as liberals and conservatives who do it.
Don't expect Obama to cut defense spending. I didn't. It's good to see this guy has a better handle on Obama's love of force to get his way.
Cato explains that health-status insurance is a market based solution to the problem is losing insurance after being diagnosed with a previously existing condition.
Army tries to grab land in Colorado.
ACORN is pushing what it calls civil disobedience over foreclosures - not leaving the house. This isn't civil disobedience. It's robbery. Failing to pay a mortgage then continuing to live there is theft.
It's refreshing to read a flaming liberal finally talk honestly about the war in Iraq. I haven't read a liberal do that since the surge began. It's good to know that at least a couple liberals aren't slaves to liberal dogma.
Ben Bernanke hasn't been radicalized. Just reading this description, you can tell he's always been a repressed radical, and he's liberated because he doesn't have to pretend to support free markets anymore. It's like this guy was hoping to play God with our economy, and he's reveling in the opportunity. Good thing the SEC didn't change those mark-to-market accounting rules or he may never have had his chance.
But the economic collapse seems to have had a salutary effect on Bernanke: The academic known for his bland answers and brown socks has been liberated in both word and deed. This student of the Great Depression has taken extreme and unprecedented actions to avert a modern-day sequel, and he's taken the Fed chairman's lexicon well beyond basis points and LIBOR and M1 and M2.
"Extraordinary times call for extraordinary measures," the radicalized Fed chairman said. To prove that, he's dropped interest rates to near zero and has the Fed lending directly to corporations and buying mortgage securities. Yesterday, Bernanke left the door wide open to the most radical step of all: nationalizing the banks.
Bernanke is so happy he can hardly contain himself. And the press is still pretending Bernanke and Greenspan, the previous dictator of our money supply, support free markets.
And no less a free-market authority than Greenspan, in an interview with the Financial Times this week, said "it may be necessary to temporarily nationalize some banks," calling this the "least bad solution" to the financial crisis.
When Bernanke was asked at lunch about his predecessor's sentiments, he voiced no opposition to the idea. While discouraging government ownership of banks "for a protracted period," he offered no such objection to short-term nationalization. "Whatever actions may need to be taken, at one point or another, I think there's a very strong commitment, on the part of the administration, to try to return banks or keep banks private or return them to private hands as quickly as possible," he said.
These smug, socialist sons of bitches pretending to be capitalists make me sick.
And he volunteered that the Fed's usual responses "have proven insufficient" to halt the fall.
"Usual responses?" Previously in the article, the author called them "extreme and unprecedented" responses. The actions of the Fed under Greenspan with the advice of Bernanke created this crisis, and the Fed's actions under Bernanke are pulling us deeper and longer into recession. Note the tone of the article and the responses of Bernanke show that he wishes he could have done more to interfere in our economy all along. Apparently he's not happy with all the damage he caused - he wants to cause more.
Meltdown debuts at #15 on the New York Times bestseller list, a record for a book on the Austrian school of economics. Excellent. I'm still waiting for my copy, which shipped either yesterday or the day before.
The price of cocaine in Europe has fallen 50 percent in the last 10 years because of booming supply and demand. The war on drugs has succeeded at killing 10s of thousands if not hundreds of thousands of people, imprisoning millions, starting a low level civil war in Mexico that threatens to become a full fledged civil war, giving Mexican drug gangs control of our southern border, funding the Taliban in Afghanistan, funding street gangs and gang violence, sucking 100s of billions of dollars out of the US economy, and ruining untold numbers of lives, but it sure hasn't reduced drug use. Let's keep doing it!
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