Politicians trying to run GM. Of course they are. Dumb as it is, that is their duty once they bought the company. This is one of many reasons socialism always makes problems worse.
In Q3, the Fed managed to inflate a new economic bubble at the rate of 3.5 percent.
D.C. Suicide Mission.
"The urgent problem is the giant riverboat gamble that Washington can save the economy by doing what comes naturally--spending money carelessly, creating massive new entitlements without funding them, dishing out cheap credit to politically favored sectors, telling business people where and how to invest.I've been saying for years that we were very close to becoming the Soviet Union, and Obama is trying to get us there in four years. If we're lucky, we might run into the best of terrible situation starting 2011 - Democrats control the presidency and the Senate, but Republicans control the House. If we're really lucky, Congress will pass no laws for 2 years. That's the best we can hope for from the two parties. Unfortunately, since Republicans aren't much different than Democrats, I bet they find plenty of common ground to loot us and continue our transformation into the Soviet Union, just as a slightly slower pace.
Mr. Feinberg is an apt symbol indeed, for this gamble is built on the conceit that Washington can hector the recipients, whether auto companies, banks or homeowners, into behaving in ways that are "responsible." So far, however, human nature is proving a disappointment: Take the outbreak of tax fraud related to the government's emergency home-buyer's credit.
Nor is the larger gamble looking so good either. Banks continue to fail at an alarming rate, the dollar is under assault, and Washington is looking at a future of trillion-dollar deficits. One might have guessed it would take a decade of Obamanomics to produce European welfare state levels of youth unemployment, but at 18.5% we're there.
About the only positive sign is the price surge in normally uncorrelated assets--stocks, bonds, commodities, gold--as fund managers use cheap credit to play the carry-trade opportunity...."
Is the commercial real estate collapse the next crisis Obama won't let go to waste?
"If then–Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke could convince Congress to expose the taxpayers to several trillion dollars in the face of the residential-real-estate bubble and a handful of struggling (but too big to fail) companies, imagine the vast sums of currency Secretary Geithner may deem necessary to protect against this larger, looming crisis. Indeed, there is already evidence of the Federal Reserve team entering this game.
Given the ample, mounting evidence for looming catastrophe in the commercial markets, who knows — perhaps we will see an even more explicit organization for purchasing commercial-real-estate mortgages opened under the Federal Reserve's purview. The guarantees and funding for such an organization would need to be vastly greater than the already-gargantuan $1 trillion currently in place for the purchase of illiquid mortgage-backed securities. Further increases in the money supply, and further price inflation as the commercial lenders trade illiquid assets for new, loanable funds, will inevitably result."
While this collapse was in the making before Obama, as Obama continues to orchestrate collapses, there'll be no end to crises for him to take advantage of. That's his strategy.
House unveils 1990 page health care oppression bill that pretends to cost only $896 billion over 10 years which Democrats want us to believe will save us $30 billion because huge government programs that take away a huge amount of our freedom always save us money.
The misleading statistics of hunger in the US.
In one short letter, physicist destroys all the arguments of the man-made global warming frauds. I'd like to quote it, but it's so concise and important, I'd have to quote the whole thing. Just like health care oppression isn't about making us healthier, cap and trade isn't about saving the planet. It's all about seizing power.