We're borrowing money from China to build the road to serfdom.
Showing how socialism begets more socialism, the US intends to buy equity stakes in healthy banks. We're well past the camel sticking its nose in our tent. The camel is taking a dump in our tent. As always, this socialism will create new and worse problems in the future that government aristocrats will tell us demand yet more socialism. Unless voters change our government and throw out the 500 or more socialists in office and the 2 parties with them, this destructive spiral of socialism will destroy America just as Hayek described in the Road to Serfdom.
Corporations love socialism. They love transferring their losses to taxpayers. They love having government protect them from competition. Who wouldn't? As a result of government's latest socialist plan, the Dow has surged over 950 points today. What government has told big investors is that, no matter how bad their investments, no matter how risky, no matter how irresponsible, the government will always borrow more money from China at taxpayer expense to insure they don't have to suffer the consequences of their irresponsible actions. This is devastating for America. Asian stocks rebound too.
All the spurious rumors about Obama are backfiring on McCain. This is McCain's fault. Because McCain ignored the real danger of Obama, his radical Marxism, his lifelong partnerships with radical allies, his corruption in the Chicago political machine, and the possibility he's a running an illegal campaign because he's not an American citizen, the other bogus rumors are spinning out of control. It's funny how the press makes a federal issue about a few angry Republicans while completely ignoring the outrageous hatred flowing from the left.
Anybody who has pointed out that Obama wins more votes because he's black than he loses has been called a racist during this campaign. I guess Gallop will be called racist next because their poll showed that 6% of Americans are less likely to vote for Obama because of race but 9% are more likely to vote for him because of race. So there you have it. America is more reverse racist than racist. The 85% of us who don't give a damn about race take abuse from both sides.
Here's a picture of Barack Obama, who is trying to distance himself from his career-long partners, ACORN, at an ACORN meeting.
Video of Barack Obama inviting ACORN and other radical community organization groups into his administration to set the agenda for an Obama presidency. This is the same ACORN that Obama is now trying to distance himself from. Here's a picture of Barack Obama at an ACORN meeting.
Now liberals have faked SAT scores for Sarah Palin in their latest attempt to smear her.
Democrat Congresswoman Maxine Waters lies about receiving campaign contributions from Fannie Mae and Freddie Mac, the GSEs which she fought against regulating.
Boise gets earliest snow on record. Funny how the global warming fraud has disappeared from discussion since the economy tanked, but the plans supported by Al Gore's true believers would make the economy tank. Have you noticed that people love to make proposals and support policies that make the economy tank, but once it tanks in response, those same people never take any blame?
Christopher Hitchens explains how US inflation and the bailout proves that the US is a banana republic. I don't agree about the regulation, but I agree with the conclusion. We live in a kleptocracy run by aristocrats for aristocrats at the expense of the people. We are a banana republic, we have been since Clinton, and we're just getting to be a worse and worse one every election when we re-elect the same 2 parties which turned America into a banana republic.
Bill Krystol calls the ineptness of the McCain campaign "campaign malpractice". I agree. He's run the most ineffective campaign in many years.
This blogger has done a pretty thorough job of analyzing the mystery of Barack Obama's birth. Very interesting that she notes that as a child in Indonesia, Obama was registered (registered?) as a Muslim. It's probably just some formality over there, but so much for Obama's claims he's been a Christian his whole life. If this girl is right, every liberal who has attacked a conservative over their believe that Obama is a Muslim owes the conservative an apology. Whatever Obama is hiding, I hope that judge has the guts to get to the bottom of it before the election.
This Australian liberal recognizes that the credit crisis bailout we just saw is a harbinger of far more destructive social upheavals in the near future.
Monday, October 13, 2008
Saturday, October 11, 2008
Free kibbles
All the government interference in the markets has just made matters worse. After everything governments have done, creating great uncertainty and unprecedented new debt, the IMF warns that the global financial system is on the verge of meltdown. Changing the mark-to-market accounting rule and eliminating the capital gains tax is what we should have done in the first place, and it's what we should do immediately still. Then we should repeal that $700 billion bailout, the CRA, privatize Fannie and Freddie, make the Fed stick to its mandate to control inflation, abolish the income tax and payroll taxes in favor of the FairTax, cut the size and scope of government in half, reform entitlements (which will create the financial crisis that will destroy the US otherwise), and implement term limits so these aristocrats can never damage our country again.
Our aristocrats are out of control. California plans to ask the US government for an emergency loan. I bet every blue state, and Ohio which is governed by liberals of both parties, asks the Feds for a loan. Instead of cutting spending, state and local governments continue to increase it and their debt. The aristocrats don't seem to realize that it's impossible to continue to amassing debt forever, but in fact they know it very well. They intentionally destroying America with outrageous spending.
Thank goodness an appeals court halted the ordered release from Guantanamo of 17 terrorists from China. It doesn't sound like these men are affiliated in any way with al Qaeda, so they shouldn't be in Guantanamo because we are only waging legal wars against al Qaeda and its associates and in Iraq. But at the same time, it's absurd to release them in the US. As much as I would hate to turn over revolutionaries to China, I think that's the right thing to do in this case. Why haven't we done that? And why did Bush cave to this order anyway? The judicial branch has no power to interfere in the waging of war, and the president needs to make that clear.
US removes North Korea from list of state sponsors of terrorism. That may not sound very important, but it paves the way for much needed trade with North Korea with the rest of the world. North Korea will renege on this agreement in a few days or weeks just like they've reneged on everything else. Japan opposes.
Secessionists organize conference.
Obama continues to defy a court order to produce his birth certificate. Apparently Obama's sister says she saw him born in Kenya. I don't know what Obama is hiding, whether he isn't a US citizen or something else, but he's hiding something incredibly damning (as if being a Marxist wasn't damning enough). Let's hope this judge has the guts to order Obama held in contempt of court to force him to produce the documents before the election.
Obama tries to downplay ties to ACORN. We shouldn't just focus on ACORN's role in voter registration fraud, but their role in the subprime crisis, and Obama's, as well.
Obama's latest claim about Bill Ayers is he assumed Ayers had been rehabilitated. Obama was partners with Bill Ayers for 3 years and together they spent $100 million radicalizing Chicago youth under the guise of education reform. This new version of the story from Obama is not any more credible than the old stories. At least Obama doesn't think Ayers has been rehabilitated today. Obama might be the greatest fraud in American history.
Insight into Obama's support for infanticide. He really did vote against legislation intended to save the lives of babies who had survived abortion. This is the monstrous way that Marxists look at things that led to the mass murder of well over 100 million people last century. People aren't humans to Marxists. They are tools of the state. Liberals have never understood the depravity of Marxists, and I sincerely doubt any regular human being would support allowing live babies to be abandoned to die after botched abortions like Obama does.
Michael Barone describes how liberals, who classically supported free speech, have turned against it, and how Barack Obama has taken silencing his critics to a whole new level with thuggary and threats of prosecution.
Convicted Obama fundraiser turns state's evidence on corruption in Chicago, but it's unlikely Obama will be affected before the election.
Thomas Sowell reports that Michelle Obama's salary was increased by nearly $200,000 after Obama was elected US senator, and Obama has since earmarked $1,000,000 to the university where she is employed. I think this is clear evidence of a crime. I think if you presented that evidence to a jury, they would convict Obama (Ok, maybe not the messiah, but any other politician) for corruption. Don't get me wrong. They're all doing it. All but a handful. And they're all criminals.
George Will explains that politicians hate term limits because they want to become permanently entrenched and permanently amass power. Duh.
How Daley's Chicago political machine protects Obama and manipulates the press to play down the significance of his radical partners and mentors like Ayers and Wright.
These Republican attacks on Obama by linking him to ACORN are too little and too late. They should have started this in June, and they have yet to bring up the role ACORN and Obama played in sparking the credit crisis.
The WSJ explains that the government is the major source of our economic fear. Government has created incredible uncertainty in the markets, leading to the dry up of credit and this stunning drop in stock prices. That's what government intervention in the economy gets you - bubbles that burst then it makes the correction far more long and painful that it should be. Once government decides to intervene, everybody sits back and waits on government. Capital stops flowing. Credit markets dry up.
Judge rules that Gov. Palin must save Yahoo emails because they had to do with business. What does that have to do with anything? Why aren't politicians allowed to have private correspondence about business? That's stupid, and I doubt it's the law.
Our aristocrats are out of control. California plans to ask the US government for an emergency loan. I bet every blue state, and Ohio which is governed by liberals of both parties, asks the Feds for a loan. Instead of cutting spending, state and local governments continue to increase it and their debt. The aristocrats don't seem to realize that it's impossible to continue to amassing debt forever, but in fact they know it very well. They intentionally destroying America with outrageous spending.
Thank goodness an appeals court halted the ordered release from Guantanamo of 17 terrorists from China. It doesn't sound like these men are affiliated in any way with al Qaeda, so they shouldn't be in Guantanamo because we are only waging legal wars against al Qaeda and its associates and in Iraq. But at the same time, it's absurd to release them in the US. As much as I would hate to turn over revolutionaries to China, I think that's the right thing to do in this case. Why haven't we done that? And why did Bush cave to this order anyway? The judicial branch has no power to interfere in the waging of war, and the president needs to make that clear.
US removes North Korea from list of state sponsors of terrorism. That may not sound very important, but it paves the way for much needed trade with North Korea with the rest of the world. North Korea will renege on this agreement in a few days or weeks just like they've reneged on everything else. Japan opposes.
Secessionists organize conference.
Obama continues to defy a court order to produce his birth certificate. Apparently Obama's sister says she saw him born in Kenya. I don't know what Obama is hiding, whether he isn't a US citizen or something else, but he's hiding something incredibly damning (as if being a Marxist wasn't damning enough). Let's hope this judge has the guts to order Obama held in contempt of court to force him to produce the documents before the election.
Obama tries to downplay ties to ACORN. We shouldn't just focus on ACORN's role in voter registration fraud, but their role in the subprime crisis, and Obama's, as well.
Obama's latest claim about Bill Ayers is he assumed Ayers had been rehabilitated. Obama was partners with Bill Ayers for 3 years and together they spent $100 million radicalizing Chicago youth under the guise of education reform. This new version of the story from Obama is not any more credible than the old stories. At least Obama doesn't think Ayers has been rehabilitated today. Obama might be the greatest fraud in American history.
Insight into Obama's support for infanticide. He really did vote against legislation intended to save the lives of babies who had survived abortion. This is the monstrous way that Marxists look at things that led to the mass murder of well over 100 million people last century. People aren't humans to Marxists. They are tools of the state. Liberals have never understood the depravity of Marxists, and I sincerely doubt any regular human being would support allowing live babies to be abandoned to die after botched abortions like Obama does.
Michael Barone describes how liberals, who classically supported free speech, have turned against it, and how Barack Obama has taken silencing his critics to a whole new level with thuggary and threats of prosecution.
Convicted Obama fundraiser turns state's evidence on corruption in Chicago, but it's unlikely Obama will be affected before the election.
Thomas Sowell reports that Michelle Obama's salary was increased by nearly $200,000 after Obama was elected US senator, and Obama has since earmarked $1,000,000 to the university where she is employed. I think this is clear evidence of a crime. I think if you presented that evidence to a jury, they would convict Obama (Ok, maybe not the messiah, but any other politician) for corruption. Don't get me wrong. They're all doing it. All but a handful. And they're all criminals.
George Will explains that politicians hate term limits because they want to become permanently entrenched and permanently amass power. Duh.
How Daley's Chicago political machine protects Obama and manipulates the press to play down the significance of his radical partners and mentors like Ayers and Wright.
These Republican attacks on Obama by linking him to ACORN are too little and too late. They should have started this in June, and they have yet to bring up the role ACORN and Obama played in sparking the credit crisis.
The WSJ explains that the government is the major source of our economic fear. Government has created incredible uncertainty in the markets, leading to the dry up of credit and this stunning drop in stock prices. That's what government intervention in the economy gets you - bubbles that burst then it makes the correction far more long and painful that it should be. Once government decides to intervene, everybody sits back and waits on government. Capital stops flowing. Credit markets dry up.
Judge rules that Gov. Palin must save Yahoo emails because they had to do with business. What does that have to do with anything? Why aren't politicians allowed to have private correspondence about business? That's stupid, and I doubt it's the law.
Friday, October 10, 2008
Free kibbles
Like Hoover and FDR before him, Bush vows to stabilize US economy. How'd that government stabilization process work out for us in the '30s? Leave the economy and the markets alone, and they'll correct themselves with the minimum of pain. All government intervention can do is increase the pain. The best thing government can do for us is extract itself from the markets. Get rid of the capital gains tax. Get rid of the dividend tax. Get rid of the mark-to-market accounting rule. Repeal the CRA. Privatize Fannie and Freddie. Set interest rates to control inflation. Then the markets will correct themselves with far less pain.
Why the bailout made the economic crisis worse instead of better, as many of us predicted and told our representatives. The article forgot to mention that the bailout also didn't address the original problem - government forcing lenders to make bad loans in the first place then GSE's brokering those loans, making them appear less risky because of implicit (we now know it was explicit) taxpayer guarantees.
The cost of deforestation.
Now liberals are trying to smear Sarah Palin by attacking her new chief of police for sexual harrasment. Clearly, this man has no such record. The reprimand he received was recinded. And where were liberal concerns about sexual harrasment when Clinton was in the White House? The same feminists and liberals attacking Sarah Palin lionized Bill Clinton despite his being a serial groper, philanderer, and sometimes rapist. These liberals are shameless, dangerous hypocrites.
More info on Obama's attempt to negotiate with the Iraqis, undermining Bush's negotiations, in the summer while he was only a candidate.
Harry Reid implies anybody linking Obama to Fannie Mae and the subprime housing corruption is a racist.
McCain says he would investigate Dodd, Frank, and the others who were responsible for the mortgage meltdown. Too little. Too late. That's after McCain went along with their titanic socialist power grab. This guy is all over the map.
Thanks to ACORN and others, 5 million US mortgages are owned by illegal aliens. Obama is the first presidential candidate to hire ACORN for his get out the vote program.
Fabulous satire of the Great Obama's absurd presto-chango promises.
Louis Farrakhan literally declares that Barack Obama is the Messiah. The freaks are coming out of the woodwork and taking over the country.
I have no idea what this competitiveness scale is, but given the scary drop in the US in economic freedom, saying the US is the most competitive country in the world is hard to believe.
The mainstream media loves victim stories, but I predict they will ignore this victim of Bill Ayers's terrorism who thinks Obama should have known better. Obama had the same agenda as Ayers. That's why Ayers picked him and they were partners for 3 years. He knew what he was doing.
Obama volunteer sics Secret Service on woman who can't stand Obama.
Ethics investigation determines Sarah Palin abused her power by trying to have her ex-brother-in-law fired as a state trooper. Unfortunately, since partisanship hijacked this investigation, we can't tell if the conclusions make sense or not. Maybe there's info I haven't heard (because the MSM has been so deferential to Palin - ha!), but from everything I've heard, and I've heard the phone conversation at the focus of the investigation as well as dozens of news reports, Gov. Palin did nothing to get this dangerous, abusive individual fired. And she should have. We should be slamming her for being too wimpy, not for abusing her power, imo.
Why the bailout made the economic crisis worse instead of better, as many of us predicted and told our representatives. The article forgot to mention that the bailout also didn't address the original problem - government forcing lenders to make bad loans in the first place then GSE's brokering those loans, making them appear less risky because of implicit (we now know it was explicit) taxpayer guarantees.
The cost of deforestation.
Now liberals are trying to smear Sarah Palin by attacking her new chief of police for sexual harrasment. Clearly, this man has no such record. The reprimand he received was recinded. And where were liberal concerns about sexual harrasment when Clinton was in the White House? The same feminists and liberals attacking Sarah Palin lionized Bill Clinton despite his being a serial groper, philanderer, and sometimes rapist. These liberals are shameless, dangerous hypocrites.
More info on Obama's attempt to negotiate with the Iraqis, undermining Bush's negotiations, in the summer while he was only a candidate.
Harry Reid implies anybody linking Obama to Fannie Mae and the subprime housing corruption is a racist.
McCain says he would investigate Dodd, Frank, and the others who were responsible for the mortgage meltdown. Too little. Too late. That's after McCain went along with their titanic socialist power grab. This guy is all over the map.
Thanks to ACORN and others, 5 million US mortgages are owned by illegal aliens. Obama is the first presidential candidate to hire ACORN for his get out the vote program.
Fabulous satire of the Great Obama's absurd presto-chango promises.
Louis Farrakhan literally declares that Barack Obama is the Messiah. The freaks are coming out of the woodwork and taking over the country.
I have no idea what this competitiveness scale is, but given the scary drop in the US in economic freedom, saying the US is the most competitive country in the world is hard to believe.
The mainstream media loves victim stories, but I predict they will ignore this victim of Bill Ayers's terrorism who thinks Obama should have known better. Obama had the same agenda as Ayers. That's why Ayers picked him and they were partners for 3 years. He knew what he was doing.
Obama volunteer sics Secret Service on woman who can't stand Obama.
Ethics investigation determines Sarah Palin abused her power by trying to have her ex-brother-in-law fired as a state trooper. Unfortunately, since partisanship hijacked this investigation, we can't tell if the conclusions make sense or not. Maybe there's info I haven't heard (because the MSM has been so deferential to Palin - ha!), but from everything I've heard, and I've heard the phone conversation at the focus of the investigation as well as dozens of news reports, Gov. Palin did nothing to get this dangerous, abusive individual fired. And she should have. We should be slamming her for being too wimpy, not for abusing her power, imo.
Thursday, October 09, 2008
Free kibbles
A $700 billion bailout plan wasn't socialist enough for Bush and Paulson. Now Paulson is considering buying stakes in banks. Bush and his Democrat friends are following the path of Depression era Italy and Germany. This is what Putin did to control of Russia too. The American people have nobody to blame but ourselves for electing socialists year after year and decade after decade for the last 100 years.
Banks are not making loans because interest rates are too low. Nobody wants to make a risky loan without a reward. Therefore credit is drying up. But the Fed lowers rates again anyway. Socialism is begetting ever more socialism on the Road to Serfdom. It's stunning to me that Hayek laid out the road so perfectly, and knowing all about it, we're choosing to go down that road anyway. And when we're all destitute, people will have the gall to wonder how it happened. It's like driver purposely driving over a cliff, then asking how it happened. Obviously the Fed can't allow a bunch of bank failures. Obviously the Fed has to loan money. But it doesn't have to lower the interest rates.
Prosecutors violate discovery rules and present false evidence in Sen. Stevens corruption trial. Corrupt prosecutors prosecuting a corrupt senator probably in front of a corrupt judge. Welcome to the USA.
Republican House whip calls for investigation into ACORN. Way too late to affect the election.
After ignoring the Obama/Ayers partnership for months, McCain finally runs a weak ad about it 25 days before the election. Too little. Too late. The problem isn't that Obama and Ayers are associates, buddies or that they worked together. The problem is Ayers and his radical partners recruited Obama to be another radical partner because they felt he was the best person to implement their $100 million radical education agenda. This ad fails to make that point.
If we're so short of capital, and that's causing the financial crisis, why hasn't government eliminated the capital gains tax? If coordinated, global action is needed, why hasn't every western country eliminated the capital gains tax? Because the bunch of socialists in Washington and their counterparts around the misnamed free world would never consider that.
McCain has moved to the left of Obama by suggesting we spend $300 billion paying off bad mortgages. McCain is out Marxisting the Marxist.
Sensing a victory, liberal author begins saying the things that pretty much every liberal thinks, but know will cause them to be defeated on election day. These are only 4 of the scary things:
This is what we're going to get if Democrats win. And it's almost as bad if Republicans win.
The presidential debate format sucks, and as a result, the debates are boring and useless.
Nancy Pelosi wants to call congress back in session so she can put us $150 billion deeper in debt. These people are amazing. That we vote for them is even more amazing. Stop the madness.
John Stossel is unhappy about the bailout. We all are. Except for the Wall Street firms who get bailed out and the politicians who just grabbed the largest single chunch of power from taxpayers in history. Great links. He shows that credit had not dried up as we were told, just irresponsible credit.
The CEO pay caps in the bailout bill have no teeth and are useless anyway - those CEOs already have hundreds of millions of dollars and tons of stock - stock that US taxpayers are keeping higher than it should be because of the bailout.
It's good to know the chambers of commerce don't favor Democrats. That puts small businesses with the oil companies as the only 2 segments of the economy that Democrats don't have in their pockets.
Stanley Kurtz explodes Obama's latest lie that he never worked for ACORN. Bill Clinton was a shameless liar. Clinton has anti-personality disorder and doesn't care what happens to anybody as long as he gets his way. Obama is a dangerous liar. He has a radical anti-American agenda he's covering up.
Indianapolis has 644, 197 people eligible to vote, but it has 677,401 registered to vote. Obama brought in 12,000 new registered voters this weekend. He's getting his $800,000 thousand worth of voter fraud out of ACORN. It would be funny if Obama wasn't so dangerous.
Beer is a better investment than stocks.
Banks are not making loans because interest rates are too low. Nobody wants to make a risky loan without a reward. Therefore credit is drying up. But the Fed lowers rates again anyway. Socialism is begetting ever more socialism on the Road to Serfdom. It's stunning to me that Hayek laid out the road so perfectly, and knowing all about it, we're choosing to go down that road anyway. And when we're all destitute, people will have the gall to wonder how it happened. It's like driver purposely driving over a cliff, then asking how it happened. Obviously the Fed can't allow a bunch of bank failures. Obviously the Fed has to loan money. But it doesn't have to lower the interest rates.
Prosecutors violate discovery rules and present false evidence in Sen. Stevens corruption trial. Corrupt prosecutors prosecuting a corrupt senator probably in front of a corrupt judge. Welcome to the USA.
Republican House whip calls for investigation into ACORN. Way too late to affect the election.
After ignoring the Obama/Ayers partnership for months, McCain finally runs a weak ad about it 25 days before the election. Too little. Too late. The problem isn't that Obama and Ayers are associates, buddies or that they worked together. The problem is Ayers and his radical partners recruited Obama to be another radical partner because they felt he was the best person to implement their $100 million radical education agenda. This ad fails to make that point.
If we're so short of capital, and that's causing the financial crisis, why hasn't government eliminated the capital gains tax? If coordinated, global action is needed, why hasn't every western country eliminated the capital gains tax? Because the bunch of socialists in Washington and their counterparts around the misnamed free world would never consider that.
McCain has moved to the left of Obama by suggesting we spend $300 billion paying off bad mortgages. McCain is out Marxisting the Marxist.
Sensing a victory, liberal author begins saying the things that pretty much every liberal thinks, but know will cause them to be defeated on election day. These are only 4 of the scary things:
- "I think Karl Marx had some valuable insights into capitalist economies!"
- "The Second Amendment does too allow government to ban handguns."
Higher gas prices are good because they make everybody bike and take public transit like they should!
America isn't the greatest nation in the world. We think it is only because it's our country. Duh!
Let's bring back the era of big government.
What's so great about the Judeo-Christian tradition?
We're undertaxed. Look at Europe!
America won't be the world's most powerful nation forever. And you know what? Handing that responsibility off will be a relief!
America's official languages should be English and Spanish!
- "If Israel isn't out of the occupied territories in six months we'll cut off all aid."
This is what we're going to get if Democrats win. And it's almost as bad if Republicans win.
The presidential debate format sucks, and as a result, the debates are boring and useless.
Nancy Pelosi wants to call congress back in session so she can put us $150 billion deeper in debt. These people are amazing. That we vote for them is even more amazing. Stop the madness.
John Stossel is unhappy about the bailout. We all are. Except for the Wall Street firms who get bailed out and the politicians who just grabbed the largest single chunch of power from taxpayers in history. Great links. He shows that credit had not dried up as we were told, just irresponsible credit.
The CEO pay caps in the bailout bill have no teeth and are useless anyway - those CEOs already have hundreds of millions of dollars and tons of stock - stock that US taxpayers are keeping higher than it should be because of the bailout.
It's good to know the chambers of commerce don't favor Democrats. That puts small businesses with the oil companies as the only 2 segments of the economy that Democrats don't have in their pockets.
Stanley Kurtz explodes Obama's latest lie that he never worked for ACORN. Bill Clinton was a shameless liar. Clinton has anti-personality disorder and doesn't care what happens to anybody as long as he gets his way. Obama is a dangerous liar. He has a radical anti-American agenda he's covering up.
Indianapolis has 644, 197 people eligible to vote, but it has 677,401 registered to vote. Obama brought in 12,000 new registered voters this weekend. He's getting his $800,000 thousand worth of voter fraud out of ACORN. It would be funny if Obama wasn't so dangerous.
Beer is a better investment than stocks.
Wednesday, October 08, 2008
Free kibbles
"A federal judge has ordered the immediate release into the United States of 17 Chinese Muslims who have been held for several years in the U.S. military facility at Guantanamo Bay, Cuba." This is a bizarre situation. These men are in a legal limbo, but I sure don't want them in the US.
House Oversight Committee to hold hearings on the failing of Fannie Mae and Freddie Mac. But it won't investigate congress' role. This will a dog and pony show orchestrated to make it appear that capitalism failed, not government.
Russian troops withdraw from Georgian buffer zones.
AIG execs have a good laugh at taxpayers at a $440,000 LA resort paid for with bailout money. Thanks for giving them our money so they could enjoy themselves, government.
The WSJ compares Obama and McCain's tax plans.
Barney Frank, the guy who protected Fannie Mae and Freddie Mac from regulation, leading the credit crisis, while he was sleeping with an executive from Fannie Mae, said Republicans attack the poor because of racism. It's just amazing what Democrats can get away with because the mainstream media protects them. Can you imagine if a Republican said something like that? Boortz links a 1999 NYTimes article explaining how, pressured by the Clinton administration, Fannie Mae lowered credit requirements so that people who couldn't afford homes could buy one. How'd that work out for us?
NBC censors SNL skit explaining how Democrats created the subprime, credit crisis. That skit was excellent.
Stanley Kurtz explains how Obama's ACORN used the CRA and intimidation tactics against local banks on the one hand and lobbied congress and the Clinton administration for lowering credit standards at Fannie Mae and Freddie Mac on the other during the 90s, precipitating today's financial meltdown. Obama's and ACORN's Marxist radicalism are right at the heart of this financial crisis. It's a great explanation of how the 1977 law was used to create today's crisis.
Ben Stein gives a 12 step plan for ruining the US economy. It's looks vaguely familiar. Pretty funny in a gallows humor kind of way.
A Cato scholar is debating another think tank scholar about the consequences of the Wall Street bailout on Google knol. This is a really cool idea. It'll be interesting to see if it takes off.
House Republicans had claimed to have stripped out the provisions that the government could rewrite mortgages from the bailout, but according to Michelle Malkin, the provision for government to rewrite mortgages is in the final bill and was given as a favor to ACORN. This is crazy.
In more ACORN news, police raid Las Vegas ACORN office because of suspected voter fraud.
CNN report exposes the Obama/Ayers connection. If Obama didn't agree with Bill Ayers, then why did Ayers and his board recruit Obama to implement their $100 million radical education agenda? Ayers didn't recruit a guy who disagreed with him. That would have been the kiss of death for his foundation. And it's absurd to say Obama does not agree with Ayers. If Obama didn't agree with Ayers, he wouldn't have taken the job implementing Ayers's agenda.
Thomas Sowell explains that Ayers is not an associate of the real Obama, he's an ally, along with Wright, Pfleger, Rezko and others. In part 2 of the real Obama, Sowell explains that Obama's support for sex education for kindergarteners tells us that Obama is a radical leftist. In part 3 Sowell examines Obama's record on education, but he fails to mention the Chicago Annenberg Challenge. Bill Ayers founded that organization to improve education and along with his board, they recruited the man they thought best suited to implement Ayers's vision of education - Barack Obama. The minutes from board meeting showed that none of the board members cared about test scores, they laughed about them. They cared about radicalizing students. Obama's vision for education is the same as Bill Ayers's, and the media should thoroughly examine that vision.
State Senator Obama ordered loads of pork for his friends, family, and political supporters. In the US Senate, Obama ordered $320 million in pork, no doubt for the same purpose. I'm surprised it's that low.
Obama is hostile to the Second Amendment. And freedom.
300 suspected illegal immigrants detained after raid of chicken processing plant. But it has to be the plants managers that are punished.
Ann Coulter rips Joe Biden for numerous, significant errors he made in his debate with Gov. Palin, and points out that if Palin had made mistakes of the same or even lesser calibre, the press would have forced her off the ticket.
House Oversight Committee to hold hearings on the failing of Fannie Mae and Freddie Mac. But it won't investigate congress' role. This will a dog and pony show orchestrated to make it appear that capitalism failed, not government.
Russian troops withdraw from Georgian buffer zones.
AIG execs have a good laugh at taxpayers at a $440,000 LA resort paid for with bailout money. Thanks for giving them our money so they could enjoy themselves, government.
The WSJ compares Obama and McCain's tax plans.
Barney Frank, the guy who protected Fannie Mae and Freddie Mac from regulation, leading the credit crisis, while he was sleeping with an executive from Fannie Mae, said Republicans attack the poor because of racism. It's just amazing what Democrats can get away with because the mainstream media protects them. Can you imagine if a Republican said something like that? Boortz links a 1999 NYTimes article explaining how, pressured by the Clinton administration, Fannie Mae lowered credit requirements so that people who couldn't afford homes could buy one. How'd that work out for us?
NBC censors SNL skit explaining how Democrats created the subprime, credit crisis. That skit was excellent.
Stanley Kurtz explains how Obama's ACORN used the CRA and intimidation tactics against local banks on the one hand and lobbied congress and the Clinton administration for lowering credit standards at Fannie Mae and Freddie Mac on the other during the 90s, precipitating today's financial meltdown. Obama's and ACORN's Marxist radicalism are right at the heart of this financial crisis. It's a great explanation of how the 1977 law was used to create today's crisis.
Ben Stein gives a 12 step plan for ruining the US economy. It's looks vaguely familiar. Pretty funny in a gallows humor kind of way.
A Cato scholar is debating another think tank scholar about the consequences of the Wall Street bailout on Google knol. This is a really cool idea. It'll be interesting to see if it takes off.
House Republicans had claimed to have stripped out the provisions that the government could rewrite mortgages from the bailout, but according to Michelle Malkin, the provision for government to rewrite mortgages is in the final bill and was given as a favor to ACORN. This is crazy.
In more ACORN news, police raid Las Vegas ACORN office because of suspected voter fraud.
CNN report exposes the Obama/Ayers connection. If Obama didn't agree with Bill Ayers, then why did Ayers and his board recruit Obama to implement their $100 million radical education agenda? Ayers didn't recruit a guy who disagreed with him. That would have been the kiss of death for his foundation. And it's absurd to say Obama does not agree with Ayers. If Obama didn't agree with Ayers, he wouldn't have taken the job implementing Ayers's agenda.
Thomas Sowell explains that Ayers is not an associate of the real Obama, he's an ally, along with Wright, Pfleger, Rezko and others. In part 2 of the real Obama, Sowell explains that Obama's support for sex education for kindergarteners tells us that Obama is a radical leftist. In part 3 Sowell examines Obama's record on education, but he fails to mention the Chicago Annenberg Challenge. Bill Ayers founded that organization to improve education and along with his board, they recruited the man they thought best suited to implement Ayers's vision of education - Barack Obama. The minutes from board meeting showed that none of the board members cared about test scores, they laughed about them. They cared about radicalizing students. Obama's vision for education is the same as Bill Ayers's, and the media should thoroughly examine that vision.
State Senator Obama ordered loads of pork for his friends, family, and political supporters. In the US Senate, Obama ordered $320 million in pork, no doubt for the same purpose. I'm surprised it's that low.
Obama is hostile to the Second Amendment. And freedom.
300 suspected illegal immigrants detained after raid of chicken processing plant. But it has to be the plants managers that are punished.
Ann Coulter rips Joe Biden for numerous, significant errors he made in his debate with Gov. Palin, and points out that if Palin had made mistakes of the same or even lesser calibre, the press would have forced her off the ticket.
Tuesday, October 07, 2008
Email to Bob Barr
In the wake of the presidential debacle, I mean debate, I sent the following email to Bob Barr:
Congratulations on running the most inept campaign in history. We have the 2 worst mainstream candidates in history fighting it out, and the American people have the lowest opinion of the 2 anti-American parties in history, and you sit on the sidelines patting yourselves on the back.
Meanwhile, McCain promises to spend 300,300,300x10 to the 300,300,300 godzillion to pay off all debt in the universe.
Like Karl Marx and Barack Obama, McCain is so compassionate he plans to create an infinite amount of money out empty space. Nice job debating him on that. I kneel down before the god-given powers of the 2 parties. God bless them and God bless us all as we eat dirt and tell our children to be thankful for it.
Nice job being invisible. I bet that took a lot of work to be completely invisible while the 2 most anti-American candidates in history fought it out to destroy the world.
Fist-pump to your success! Those of us who survive the wolf attacks will have a good laugh over those glasses.
Congratulations on running the most inept campaign in history. We have the 2 worst mainstream candidates in history fighting it out, and the American people have the lowest opinion of the 2 anti-American parties in history, and you sit on the sidelines patting yourselves on the back.
Meanwhile, McCain promises to spend 300,300,300x10 to the 300,300,300 godzillion to pay off all debt in the universe.
Like Karl Marx and Barack Obama, McCain is so compassionate he plans to create an infinite amount of money out empty space. Nice job debating him on that. I kneel down before the god-given powers of the 2 parties. God bless them and God bless us all as we eat dirt and tell our children to be thankful for it.
Nice job being invisible. I bet that took a lot of work to be completely invisible while the 2 most anti-American candidates in history fought it out to destroy the world.
Fist-pump to your success! Those of us who survive the wolf attacks will have a good laugh over those glasses.
Free kibbles
The Fed continues to print money until it's not worth the paper its printed on. Pretty soon our inflation is going to look like Zimbabwe, and the so-called experts will wonder how we became a banana republic.
McCain offered a $300 billion (additional) bailout for mortgages. Why stop there? Why not $3 trillion? Why not $30 trillion? Why doesn't McCain wave a magic wand and pay off every mortgage in America? And why stop there? How about McCain wave a magic wand, pay off every debt of every American and every person in the world. And why stop there? Somewhere in our galaxy, other people are in debt. McCain's wand should pay off all the debt in our galaxy, our local cluster, our string of galaxies, and our superstring of galaxies. Oh, and I want a big screen TV. Don't forget that. Karl Marx thinks McCain is a pussy. Obama is a man among Marxists. And we're all screwed.
McCain offered a $300 billion (additional) bailout for mortgages. Why stop there? Why not $3 trillion? Why not $30 trillion? Why doesn't McCain wave a magic wand and pay off every mortgage in America? And why stop there? How about McCain wave a magic wand, pay off every debt of every American and every person in the world. And why stop there? Somewhere in our galaxy, other people are in debt. McCain's wand should pay off all the debt in our galaxy, our local cluster, our string of galaxies, and our superstring of galaxies. Oh, and I want a big screen TV. Don't forget that. Karl Marx thinks McCain is a pussy. Obama is a man among Marxists. And we're all screwed.
Monday, October 06, 2008
Free kibbles
It didn't take long for the market to figure out that bailout is bad for the economy, not good. Dow drops below 10,000 for the first time since 2004. Dow down 800. Remember the 771 point fall that led to the biggest socialist bailout in history? How'd that work out for us?
President Bush said he didn't want to rush into the $700 billion bailout. Funny, that isn't what he said last week when he was demanding Congress pass the bill immediately and with no debate. What a surprise that Paulson picked an undersecretary of treasure, formerly of Goldman Sachs to head up the bailout.
This financial crisis kind of scary because Hoover was a liberal Republican who's liberal policies helped spark economic problems, and the people turned to socialist FDR who turned those problems into the Great Depression. Then we had liberal Republican Nixon who's liberal policies sparked economic problems in the '70s, and the people turned to the much more liberal economic policies of Jimmy Carter and drove the economy into the ground. Now we have liberal George Bush at the start of an economic crisis, and the people very well could turn to the most radical Marxist candidate in American history who will almost certainly drive us into another depression. A comparison to 1929.
Forbes analysts explain that everything the government has done has made this credit crisis worse from originally lowering interest (that makes banks less likely to make loans) the panic of the bailout legislation (that destroyed confidence in the economy). Government is always the problem, and every time government tries to solve the problems it creates, it creates even bigger problems. Stop the madness and let's get government out of our economy.
In response to Palin's attack on Obama for his long-time work with Bill Ayers, Obama brings up the Keating 5. I doubt Obama mentions that McCain was exonerated. Obama put up a Keating 5 website. He must have had it prepared already, just waiting for McCain to mention Ayers.
This SNL satire of the bailout is pretty darn accurate. They definitely captured Bush the Democrat.
Barney Frank's partner was an architect of the subprime mortgage crisis at Fannie Mae, and Frank worked to block oversight and deregulate the government sponsored entity. This is one of the reasons I called for Frank's resignation before the bailout along with Dodd, Paulson, and Bernanke. Now the damage is done.
Boortz notes Palin's linkage of Obama and Ayers. The mainstream media calls this attack racist. There's nothing they won't stoop to to get Obama elected. Before the election, the mainstream media will be out kidnapping McCain voters to try and help their guy.
Apparently John McCain isn't making the case that Democrats support of Fannie Mae, Freddie Mac and the CRA are responsible for the credit crisis because his campaign believes the American people aren't smart enough to understand it and that McCain isn't smart enough to make a concise argument. Liberals won't get it because they're religion blocks them from seeing simple facts, but the American people certainly would understand the problem. But McCain is throwing free markets under the bus.
Blaming deregulation is dangerous because nobody is championing the free market right now. This guy is mistaken on one point - the reason institutions bought those toxic mortgage securities is because they were implicitly backed by the government through Fannie Mae and Freddie Mac.
Despite Joe Biden making significantly more money than the Palin family, the Palins have donated more to charity in the last 2 years than Biden has in the last 8. Those Democrats are so compassionate.
Obama is now lying about ever working for ACORN. Basically, he's claiming the subsidiary of ACORN he worked for wasn't a subsidiary of ACORN. Obama learned from Bill Clinton how to lie like a dog and use the mainstream media to cover for him. McCain should attack Obama's work for ACORN every day and make Obama explain it every day. That's a winning issue for McCain.
Obama votes the Democrat party line 97 percent of the time. That's what Democrats call reaching across the aisle and uniting the country.
Why did it take decades for Medicare to stop paying for medical mistakes?
I don't really care that flourescent bulbs are worse for the environment than incadescents. They're cheaper, and that's why I buy them. Some entrepreneur will come up with a way to disposes of them safely and make millions in the process. Everybody will win.
I don't like this idea of a National Day of Prayer at all, but I don't see how it violates the establishment of religion clause because it doesn't establish a religion.
Learning (spelling) can make children feel like failures, so this British school will no longer make students do it. Why make them learn at all, since anybody who fails at learning will feel like a failure. Maybe schools just just make children and teachers recite "I am wonderful" all day long and get rid of the learning stuff all together.
In the wake of the credit crisis bailout, a crisis caused largely by Democrats with the CRA and their protection of the corruption in Fannie Mae and Freddie Mac, Thomas laments that the blame has mistakenly been placed on Bush and deregulation and free markets instead of on the socialist policies that actually caused it. He wonders if facts matter any more. Facts don't matter to liberals because they are blinded to them by their religion. Sure, media bias is a problem too, but even McCain and Palin are railing against the greed of Wall Street instead of the policies of Democrats that caused the problem. Honest people who care about the facts have no home with either party.
14 supposed lies Biden told in the debate. Since they're chronicled by the McCain campaign, I'm dubious. And that's a problem. Even interested voters can't separate the truth from the reality in those debates. I'd like to see them reaired with non-partisan fact checks between each exchange. Unfortunately, that would give far too much power to the fact checker, which would corrupt him or her too.
Dick Morris's lionization of Sarah Palin's performance in the debate is a little over the top.
Author wonders if Karl Marx or the Marx brothers are in charge in Washington. A lot of both.
The Ayers/Obama Chicago Annenberg Challenge doled out $100 million. Obama implemented Ayers's radical vision. McCain should say, "Mr. Obama you have $100 million connection to Bill Ayers, and you implemented his radical American-hating vision in the Chicago Annenberg Challenge."
President Bush said he didn't want to rush into the $700 billion bailout. Funny, that isn't what he said last week when he was demanding Congress pass the bill immediately and with no debate. What a surprise that Paulson picked an undersecretary of treasure, formerly of Goldman Sachs to head up the bailout.
This financial crisis kind of scary because Hoover was a liberal Republican who's liberal policies helped spark economic problems, and the people turned to socialist FDR who turned those problems into the Great Depression. Then we had liberal Republican Nixon who's liberal policies sparked economic problems in the '70s, and the people turned to the much more liberal economic policies of Jimmy Carter and drove the economy into the ground. Now we have liberal George Bush at the start of an economic crisis, and the people very well could turn to the most radical Marxist candidate in American history who will almost certainly drive us into another depression. A comparison to 1929.
Forbes analysts explain that everything the government has done has made this credit crisis worse from originally lowering interest (that makes banks less likely to make loans) the panic of the bailout legislation (that destroyed confidence in the economy). Government is always the problem, and every time government tries to solve the problems it creates, it creates even bigger problems. Stop the madness and let's get government out of our economy.
In response to Palin's attack on Obama for his long-time work with Bill Ayers, Obama brings up the Keating 5. I doubt Obama mentions that McCain was exonerated. Obama put up a Keating 5 website. He must have had it prepared already, just waiting for McCain to mention Ayers.
This SNL satire of the bailout is pretty darn accurate. They definitely captured Bush the Democrat.
Barney Frank's partner was an architect of the subprime mortgage crisis at Fannie Mae, and Frank worked to block oversight and deregulate the government sponsored entity. This is one of the reasons I called for Frank's resignation before the bailout along with Dodd, Paulson, and Bernanke. Now the damage is done.
Boortz notes Palin's linkage of Obama and Ayers. The mainstream media calls this attack racist. There's nothing they won't stoop to to get Obama elected. Before the election, the mainstream media will be out kidnapping McCain voters to try and help their guy.
Apparently John McCain isn't making the case that Democrats support of Fannie Mae, Freddie Mac and the CRA are responsible for the credit crisis because his campaign believes the American people aren't smart enough to understand it and that McCain isn't smart enough to make a concise argument. Liberals won't get it because they're religion blocks them from seeing simple facts, but the American people certainly would understand the problem. But McCain is throwing free markets under the bus.
Blaming deregulation is dangerous because nobody is championing the free market right now. This guy is mistaken on one point - the reason institutions bought those toxic mortgage securities is because they were implicitly backed by the government through Fannie Mae and Freddie Mac.
Despite Joe Biden making significantly more money than the Palin family, the Palins have donated more to charity in the last 2 years than Biden has in the last 8. Those Democrats are so compassionate.
Obama is now lying about ever working for ACORN. Basically, he's claiming the subsidiary of ACORN he worked for wasn't a subsidiary of ACORN. Obama learned from Bill Clinton how to lie like a dog and use the mainstream media to cover for him. McCain should attack Obama's work for ACORN every day and make Obama explain it every day. That's a winning issue for McCain.
Obama votes the Democrat party line 97 percent of the time. That's what Democrats call reaching across the aisle and uniting the country.
Why did it take decades for Medicare to stop paying for medical mistakes?
I don't really care that flourescent bulbs are worse for the environment than incadescents. They're cheaper, and that's why I buy them. Some entrepreneur will come up with a way to disposes of them safely and make millions in the process. Everybody will win.
I don't like this idea of a National Day of Prayer at all, but I don't see how it violates the establishment of religion clause because it doesn't establish a religion.
Learning (spelling) can make children feel like failures, so this British school will no longer make students do it. Why make them learn at all, since anybody who fails at learning will feel like a failure. Maybe schools just just make children and teachers recite "I am wonderful" all day long and get rid of the learning stuff all together.
In the wake of the credit crisis bailout, a crisis caused largely by Democrats with the CRA and their protection of the corruption in Fannie Mae and Freddie Mac, Thomas laments that the blame has mistakenly been placed on Bush and deregulation and free markets instead of on the socialist policies that actually caused it. He wonders if facts matter any more. Facts don't matter to liberals because they are blinded to them by their religion. Sure, media bias is a problem too, but even McCain and Palin are railing against the greed of Wall Street instead of the policies of Democrats that caused the problem. Honest people who care about the facts have no home with either party.
14 supposed lies Biden told in the debate. Since they're chronicled by the McCain campaign, I'm dubious. And that's a problem. Even interested voters can't separate the truth from the reality in those debates. I'd like to see them reaired with non-partisan fact checks between each exchange. Unfortunately, that would give far too much power to the fact checker, which would corrupt him or her too.
Dick Morris's lionization of Sarah Palin's performance in the debate is a little over the top.
Author wonders if Karl Marx or the Marx brothers are in charge in Washington. A lot of both.
The Ayers/Obama Chicago Annenberg Challenge doled out $100 million. Obama implemented Ayers's radical vision. McCain should say, "Mr. Obama you have $100 million connection to Bill Ayers, and you implemented his radical American-hating vision in the Chicago Annenberg Challenge."
Sunday, October 05, 2008
Free kibbles
Sarah Palin finally attacks Obama for his ties to Bill Ayers. It's about time McCain brought that up.
I just saw a new McCain ad linking Obama to Nancy Pelosi and her desire to greatly increase taxes. Finally. It's about time McCain is finally linking Obama, Pelosi, and Reid. He should show the 3 of them together and play quotes from the 3 of them.
Springsteen performs at Ohio State in an attempt to get people to register and vote for Obama on the same day.
Boortz provides a list of all the tax breaks (vote buying) in the bailout bill.
Crazy list of industries and which parties and candidates they donate too. Democrats give more handouts, so 18 of the 20 industries give more to Democrats. Leadership PACs and Oil & Gas give more to Republicans. No wonder the press hates the oil industry. If any of these other business segments gave more to Republicans, the press would demonize them as well.
Because government does such a bang-up job of educating children, failing half of our students, Hillary Clinton wants government to educate 3 and 4 year olds too. But Obama has the 0 to 5 plan.
Victor Davis Hanson supplies an excellent satire of a press report on Sarah Palin's gaffes, but they're really Joe Biden's.
Accusations that financial elites manipulated Wikipedia entry to confuse readers regarding the facts of the Wall Street meltdown.
I just saw a new McCain ad linking Obama to Nancy Pelosi and her desire to greatly increase taxes. Finally. It's about time McCain is finally linking Obama, Pelosi, and Reid. He should show the 3 of them together and play quotes from the 3 of them.
Springsteen performs at Ohio State in an attempt to get people to register and vote for Obama on the same day.
Boortz provides a list of all the tax breaks (vote buying) in the bailout bill.
Crazy list of industries and which parties and candidates they donate too. Democrats give more handouts, so 18 of the 20 industries give more to Democrats. Leadership PACs and Oil & Gas give more to Republicans. No wonder the press hates the oil industry. If any of these other business segments gave more to Republicans, the press would demonize them as well.
Because government does such a bang-up job of educating children, failing half of our students, Hillary Clinton wants government to educate 3 and 4 year olds too. But Obama has the 0 to 5 plan.
Victor Davis Hanson supplies an excellent satire of a press report on Sarah Palin's gaffes, but they're really Joe Biden's.
Accusations that financial elites manipulated Wikipedia entry to confuse readers regarding the facts of the Wall Street meltdown.
Friday, October 03, 2008
Free kibbles
House approves $700 billion bailout after adding $110 billion in tax cuts. How does that make sense? Now instead of having to add $700 billion to our national debt, we're adding $810 billion. Needless to say, Bush the Debtor signed it. This bailout may turn out to be the most devastating piece of legislation in history. Unbelievable. I will vote against anybody who signed this bill as long as they are in office.
Bombers attack Russian military in South Ossetia. It's not terrorism when they attack the military. That's just covert action.
Pakistan claims that 2 US missiles killed 12 Pakistanis.
Biden/Palin debate ties for the second most watched debate ever.
Bombers attack Russian military in South Ossetia. It's not terrorism when they attack the military. That's just covert action.
Pakistan claims that 2 US missiles killed 12 Pakistanis.
Biden/Palin debate ties for the second most watched debate ever.
Thursday, October 02, 2008
Obama's Subprime Corruption
Obama's Subprime Corruption
Can we end the charade that America has a free market economy now? If this financial crisis hasn't proved that we suffer from rampant socialism, nothing will.
The United States is a socialist country, and socialism is collapsing everything around us. Our communist school system fails 50 percent of our children. Our roads are disintegrating because of communist mismanagement. Our system of socialized medicine, where government pays 60 percent of payments, is breaking down. Liberals demand we replace it with communism - euphemistically called a single payer system. It shouldn't surprise anybody that under Bush the Democrat, socialist Republicans, and bigger socialist Democrats, the United States dropped from 2nd to 8th in the index of economic freedom. Our rating fell from 8.55 to 8.04. Only in Zimbabwe, Argentina, Niger, Venezuela, and Guyana has socialism advanced faster. We are transforming America into the Soviet Union and suffering its fate.
America's financial markets are socialist and collapsing too. With all the panic about the problems on Wall Street, it's informative to remember exactly how we got here. The problem is a small percentage of Americans aren't paying their mortgages, creating a crisis of confidence in the markets. 3 socialist policies dovetailed to create this problem.
The tip of the spear is the subprime mortgage crisis. In 1977, Jimmy Carter and the Democrat Congress passed the Community Reinvestment Act (CRA), which forces lenders to make loans to borrowers who are likely to default. This wasn't in the lenders', borrowers', or the public's interest, but Democrats didn't care. They passed the law anyway and initiated the subprime crisis.
Before Barack Obama joined the Illinois Senate, he worked for the Association of Community Organizers for Reform Now (ACORN). ACORN is devoted to promoting Marxism through community organizing techniques. Besides participating in widespread voter fraud, one of ACORN's most effective techniques is attacking mortgage companies for failure to provide loans to low income families.
Crying racism, Barack Obama and ACORN would threaten mortgage companies with lawsuits based on the CRA, forcing companies to make subprime loans. But they knew these borrowers couldn't afford mortgage payments. The goal was not to put people in homes but to attack capitalism by forcing mortgage companies to make subprime loans that would never be repaid. Obama and ACORN must be ecstatic with their success. Now they call the companies they coerced into making subprime loans predatory lenders.
The Clinton administration strengthened the CRA and empowered the biggest scandal of our lifetimes - Fannie Mae and Freddie Mac form the nexus of the subprime crisis. These psuedo-companies bought the protection of powerful Democrats like Senate Finance Chairman Chris Dodd, John Kerry, Barack Obama and Hillary Clinton with millions of dollars in campaign donations. They also donated millions to ACORN. Their CEO's made multiple millions by cooking the books while Democrats blocked attempts to end the corruption. This is organized crime, but because Obama and Democrats are immersed in this corruption, the mainstream media refuses to report it.
Obama is up to his eyeballs in subprime corruption. His Vice-President selection adviser Jim Johnson and Franklin Raines, whom Obama solicited for economic and housing advice, are ex-CEOs of Fannie and Freddie. Both have been implicated in the corruption for the millions they looted. If they had worked for Enron instead of government organizations protected by Democrats, both would be in prison. Many credit Obama's Finance Chair, Penny Pritzker, with inventing the subprime crisis by inventing the bundled mortgage security, a tool designed to diffuse the risk forced on mortgage companies by government and activists like Obama, which were then funneled to the entire finance industry through Fannie and Freddie.
Using Clintonian tactics to distract Americans from his corruption, Obama aggressively attacked John McCain and his finance adviser Phil Gramm for the credit crisis. Obama blamed our non-existent free market, Republicans, and George Bush. He blamed everything but the vast right-wing conspiracy. Democrat concerns about deregulation are laughable since Democrats prevented attempts by Bush and McCain to rein in Fannie and Freddie in 2003 and 2005, respectively. Regulation by corrupt aristocrats is worse than worthless. Like they protected Clinton, Obama's media allies may enable him to get away with this corruption.
The second socialist policy that sparked this crisis is the irresponsibly loose monetary policy of the Federal Reserve under Alan Greenspan. Greenspan took it upon himself to boost the economy through inflationary monetary policy instead of limiting himself to his mandate to control inflation. Cheap money powered the house-flipping craze, creating the housing bubble. Recognizing that bubble was about to burst, Greenspan retired to avoid blame and now sits on the sidelines pronouncing this is by far the worst economy he's ever seen. Thanks, Alan.
The third socialist policy responsible for this problem is the income tax. Our income tax punishes savings and rewards debt. Finance companies trusted Fannie, Freddie and their government masters, saved little cash and assumed massive debt. When investors started withdrawing money, the companies were left holding worthless paper.
The failures of socialism always lead to more socialism. Socialists will take more money from responsible Americans and give it to irresponsible Americans. The largest shareholders in financial giants will be the biggest winners. This guarantees an even worse economic collapse in the future, but I doubt a market-based solution was ever considered. Friedrich Hayek described this downward spiral in his book The Road to Serfdom. The solution is to end our destructive spiral into Soviet socialism and return to the American value of freedom including free markets.
Wednesday, October 01, 2008
Free kibbles
Even though the American people resoundingly rejected this socialist bailout bill, the Senate plans to pass it tonight anyway, in hopes of forcing the House to accept it. The American are demanding that Washington implement free market solutions to end this crisis, but Washington doesn't want free markets. It's wants more socialism. Senate passes bailout bill 74-25.
Theory suggests the Earth may exist in a low mass bubble in the universe.
This excellent article exposes the major role ACORN in Chicago played in creating the subprime crisis. The leader of the movement was Madeline Talbot, and she had Barack Obama train her staff on how to shakedown mortgage companies to make subprime loans. He also shows how the organizations Obama chaired, Woods Fund and the Chicago Annerberg Challenge, intentionally masquareded as non-ideological organations while funding radicalism that even the hard left shunned. Obama's Marxist. A revolutionary, and he's still carrying on that masquarade today. This is an amazing read.
McCain says Obama's policies are bad for the economy. Did he just figure that out? He didn't feel like pointing that out all summer?
These Missourians are not happy about Obama's threats to prosecute his critics in Missouri.
Oregon gym classes redesigned to help student's self-esteem. Give me a break.
Great video compilation showing how Democrats not only blocked efforts by Republicans to regulate Fannie Mae and Freddie Mac, they also attacked the regulators, lionized the corrupt CEOS, and celebrated zero down payment loans like that was a good thing. The best quote is Franklin Rains saying that the mortgages Fannie was buying were "riskless". I'm sick of people saying don't point fingers. There's enough blame to go around. I'm sure Republicans aren't blameless, but Democrats own practically every bit of blame for the subprime crisis. Those are the same Democrats, like Dodd and Frank, along with Paulson and Bernanke, who were at best asleep at the switch and more likely up their eye-balls in creating this crisis along with Congressional Democrats, who are pushing this $700 billion bailout down the throats of the American people against our will.
Republicans propose an alternative bailout plan that's not a huge socialist power grab. Funny that I had to read an Indian newspaper to find out about it. I'm writing my representatives and asking them to support it.
Courts overturn Ohio's 30 day law for voter registration, allowing voters to register and vote on absentee ballots on the same day.
It's ridiculous that the moderator for Tuesday's debate is coming out with a book in which Obama is the primary focus on inauguration day. It's so obvious she should recuse herself, it's painful. Could you imagine of one of the news people from Foxnews had a book about McCain coming out on inauguration day? Liberals would burn down the debate hall.
John McCain claims that the president could do this bailout without Congressional approval because the Treasury Dept. has $1 trillion to play with without Congressional approval. Huh?
Nice essay explains that centralization of banking and credit is a tenant of Marxism, and that's exactly what Paulson and the Democrats want. Author also explains the difference in monetary policy of Friedman's Chicago school of economics and the Austrian school. This essay explains perfectly what we're seeing here - loose monetary policy created a feeding frenzy of an economic bubble, and when that bubble inevitably corrected, no amount of easy money or government intervention in the financial markets can turn those bad loans into good loans and any attempt to do so prolongs and deepens the crisis.
Thomas Sowell wonders why we allow the same people who engineered this credit crisis to engineer a solution that is no solution at all.
Author of this alternative plan to resolve the credit crisis is 1 of 166 economists who sent a letter to Congress opposing the bailout.
Crazy frightening video of Obama youth singing his praises. It can happen here.
Is anybody surprised that unions pay millions of dollars to the family members of union chiefs?
This video that Time-Warner tried to ban from YouTube explains the subprime crisis in an excellent, easy to understand fashion. Whoever did this put a lot time into it and did a great job. Too bad it degenerates into McCain campaign commercial in the last minute. The information was great, and the partisanship will just reduce the number people who bother to look at it. Anybody who thinks capitalism or free markets caused this problem could learn a lot from this video.
George Will says that deficit spending of government reflects the love of deficit spending by the people who are equally irresponsible with credit.
History is passing judgment on Paul Bremer's decision to disband the Iraqi army. It was a bad decision.
Thomas Sowell explains that golden parachutes are worth it to companies because they are far less expensive than keeping the CEO around. Why not just fire him? Why should there be internal battles or court struggles? Government.
Boortz has several segments about how voting for the bailout will cost McCain the election. He also agrees with me he ruined all the momentum he got from nominating Sarah Palin, and his only hope, longshot that it is though anything could still happen, is for Palin to save his butt once again.
Both Biden and Palin did great. Palin wasn't able to pull McCain's ass out of the fire this time. His support of the Bush/Paulson/Pelosi/Reid/Obama bailout has sunk him. He's toast.
Ohio Supreme Court overruled Dem. Sec. of State Brunner and ordered board of elections to accept absentee ballot forms from McCain without a certain box checked. I don't know the laws in these things, but if form says "check the box for an absentee ballot", and the box isn't checked, why should the board of elections send an absentee ballot? Maybe the forms are confusing, but how confusing can a checkbox be? This is like Florida Democrats wanting to count votes with hanging chads. If vote can't clear the chad, the vote shouldn't count. If a potential voter can't check a box for an absentee ballot, one shouldn't be sent. If a potential voter can't produce ID, he or she shouldn't get to vote. It's good to insure voters show a little more capability than zombies.
Theory suggests the Earth may exist in a low mass bubble in the universe.
This excellent article exposes the major role ACORN in Chicago played in creating the subprime crisis. The leader of the movement was Madeline Talbot, and she had Barack Obama train her staff on how to shakedown mortgage companies to make subprime loans. He also shows how the organizations Obama chaired, Woods Fund and the Chicago Annerberg Challenge, intentionally masquareded as non-ideological organations while funding radicalism that even the hard left shunned. Obama's Marxist. A revolutionary, and he's still carrying on that masquarade today. This is an amazing read.
McCain says Obama's policies are bad for the economy. Did he just figure that out? He didn't feel like pointing that out all summer?
These Missourians are not happy about Obama's threats to prosecute his critics in Missouri.
Oregon gym classes redesigned to help student's self-esteem. Give me a break.
Great video compilation showing how Democrats not only blocked efforts by Republicans to regulate Fannie Mae and Freddie Mac, they also attacked the regulators, lionized the corrupt CEOS, and celebrated zero down payment loans like that was a good thing. The best quote is Franklin Rains saying that the mortgages Fannie was buying were "riskless". I'm sick of people saying don't point fingers. There's enough blame to go around. I'm sure Republicans aren't blameless, but Democrats own practically every bit of blame for the subprime crisis. Those are the same Democrats, like Dodd and Frank, along with Paulson and Bernanke, who were at best asleep at the switch and more likely up their eye-balls in creating this crisis along with Congressional Democrats, who are pushing this $700 billion bailout down the throats of the American people against our will.
Republicans propose an alternative bailout plan that's not a huge socialist power grab. Funny that I had to read an Indian newspaper to find out about it. I'm writing my representatives and asking them to support it.
Courts overturn Ohio's 30 day law for voter registration, allowing voters to register and vote on absentee ballots on the same day.
It's ridiculous that the moderator for Tuesday's debate is coming out with a book in which Obama is the primary focus on inauguration day. It's so obvious she should recuse herself, it's painful. Could you imagine of one of the news people from Foxnews had a book about McCain coming out on inauguration day? Liberals would burn down the debate hall.
John McCain claims that the president could do this bailout without Congressional approval because the Treasury Dept. has $1 trillion to play with without Congressional approval. Huh?
Nice essay explains that centralization of banking and credit is a tenant of Marxism, and that's exactly what Paulson and the Democrats want. Author also explains the difference in monetary policy of Friedman's Chicago school of economics and the Austrian school. This essay explains perfectly what we're seeing here - loose monetary policy created a feeding frenzy of an economic bubble, and when that bubble inevitably corrected, no amount of easy money or government intervention in the financial markets can turn those bad loans into good loans and any attempt to do so prolongs and deepens the crisis.
Thomas Sowell wonders why we allow the same people who engineered this credit crisis to engineer a solution that is no solution at all.
Author of this alternative plan to resolve the credit crisis is 1 of 166 economists who sent a letter to Congress opposing the bailout.
Crazy frightening video of Obama youth singing his praises. It can happen here.
Is anybody surprised that unions pay millions of dollars to the family members of union chiefs?
This video that Time-Warner tried to ban from YouTube explains the subprime crisis in an excellent, easy to understand fashion. Whoever did this put a lot time into it and did a great job. Too bad it degenerates into McCain campaign commercial in the last minute. The information was great, and the partisanship will just reduce the number people who bother to look at it. Anybody who thinks capitalism or free markets caused this problem could learn a lot from this video.
George Will says that deficit spending of government reflects the love of deficit spending by the people who are equally irresponsible with credit.
History is passing judgment on Paul Bremer's decision to disband the Iraqi army. It was a bad decision.
Thomas Sowell explains that golden parachutes are worth it to companies because they are far less expensive than keeping the CEO around. Why not just fire him? Why should there be internal battles or court struggles? Government.
Boortz has several segments about how voting for the bailout will cost McCain the election. He also agrees with me he ruined all the momentum he got from nominating Sarah Palin, and his only hope, longshot that it is though anything could still happen, is for Palin to save his butt once again.
Both Biden and Palin did great. Palin wasn't able to pull McCain's ass out of the fire this time. His support of the Bush/Paulson/Pelosi/Reid/Obama bailout has sunk him. He's toast.
Ohio Supreme Court overruled Dem. Sec. of State Brunner and ordered board of elections to accept absentee ballot forms from McCain without a certain box checked. I don't know the laws in these things, but if form says "check the box for an absentee ballot", and the box isn't checked, why should the board of elections send an absentee ballot? Maybe the forms are confusing, but how confusing can a checkbox be? This is like Florida Democrats wanting to count votes with hanging chads. If vote can't clear the chad, the vote shouldn't count. If a potential voter can't check a box for an absentee ballot, one shouldn't be sent. If a potential voter can't produce ID, he or she shouldn't get to vote. It's good to insure voters show a little more capability than zombies.
Tuesday, September 30, 2008
Free kibbles
Russian warship may try to rescue Ukranian ship.
I've heard the right-wing press has finally, nearly a week late, pointed out that this titanic, socialist power grab is a conspiracy. I'm glad they finally acknowledged what many of us have recognized from the beginning.
Here's the latest email I sent to my representatives and pundits:
Boortz provides a laundry list of Barack Obama's old employer's and the people he trained, ACORN, systemic, extensive voter fraud activities. That kind of fraud is what Obama champions about being a "community organizer".
Gingrich slams Bush for Paulson's socialist bailout plan, Bremer's failures in Iraq, and Brown's handling of FEMA after Katrina. Those are pretty easy targets for hitting Bush, but let's not forget NCLB, Medicare Part D, nearly doubling the size of goverment, and Bush basically being a dumb***. Looking at the bright side, we'll get to rip Bush for his socialist ways for decades to come. It should make for good dinner conversation as we eat rats on dirt floors without roofs over our heads.
I've heard the right-wing press has finally, nearly a week late, pointed out that this titanic, socialist power grab is a conspiracy. I'm glad they finally acknowledged what many of us have recognized from the beginning.
Here's the latest email I sent to my representatives and pundits:
Paulson didn't write this bailout proposal overnight. Bernanke didn't jump on board without ever seeing it. Dodd and Frank didn't jump on board this bailout as babes from the woods. This titanic socialist bailout is a conspiracy.This crisis did not take any government aristocrat by surprise. Both parties already had their plans drawn up and prepared for it when it hit. They were just waiting for the starter's gun to use this well understood, predicted, imminent crisis to attack Americans and freedom with their bull**** about blaming and dividing the country so they could implement the biggest, socialist power grab in history.
Our esteemed leaders have known this crisis was coming for a decade. They didn't bother fixing it. Several times in the last 5 years they had opportunities, but they didn't fix it. Bush didn't use his bully pulpit to fix it. Republican Congressional leaders didn't fix it. Democrats didn't fix it. In July, Chris Dodd said Fannie Mae and Freddie Mac were sound institutions. Barney Frank used every tool in his toolbox to protect this corruption. President Bush had claimed the "fundamentals of the economy are strong" every day he's been in office until last week. John McCain repeated those exact same words 2 weeks ago.
It's a conspiracy. A scam. It's been a conspiracy for 10 years. Americans must force all these ****** to resign immediately. I've demanded the resignations of Paulson, Bernanke, Dodd, and Frank all week. Join me in demanding those resignations and resolve this crisis with freedom as our principle for the good of the American people.
Boortz provides a laundry list of Barack Obama's old employer's and the people he trained, ACORN, systemic, extensive voter fraud activities. That kind of fraud is what Obama champions about being a "community organizer".
Gingrich slams Bush for Paulson's socialist bailout plan, Bremer's failures in Iraq, and Brown's handling of FEMA after Katrina. Those are pretty easy targets for hitting Bush, but let's not forget NCLB, Medicare Part D, nearly doubling the size of goverment, and Bush basically being a dumb***. Looking at the bright side, we'll get to rip Bush for his socialist ways for decades to come. It should make for good dinner conversation as we eat rats on dirt floors without roofs over our heads.
Monday, September 29, 2008
Free kibbles
All but about 60 Republicans with the help of about 90 Democrats defeated the bailout plan. This is a great day for the American people and freedom. We may not get the bill we want out of this, but it's going to be better. What a screw up by Pelosi and the Democrat leadership. They thought they could force this through on a party line vote, but they didn't want to do that because they knew it would cost them in November. Their goal was to get 110 Republicans to support the plan. Not only did they fall woefully short of that goal, they also failed to get their own Democrats on board. This just shows incompetent Pelosi is.
This is another missed opportunity for McCain. McCain should have been railing against this socialist bailout from the beginning. He could have appeared to be the man who united the Republicans and 90 Democrats against Bush, Obama, Pelosi, and Reid's signal biggest socialist program in history. But took the wrong side. He's a maverick all right - a socialist loser just the rest of the Democrats.
Citigroup buys Wackovia. The market continues to correct for the credit crisis.
NYTimes article from 9/20/1999 explains how Fannie Mae is easing credit restrictions on mortgages so people who previously couldn't qualify for loans, people with bad credit, can now get a mortgage. How'd that work out for us?
Boortz has a transcript of the first debate.
Obama is attempting to get Missouri police to respond to what Obama thinks are inaccurate or misleading ads. This is an attempt to get the police to intimidate his opponents pure and simple. Missouri's governor had a thing or two to say about Obama's attempt to intimidate Missouri voters. Boortz is right when he points out that if Obama is this obvious about using government power to intimidate opponents when he's just a candidate, imagine how much he'll use government to intimidate opponents if he becomes president.
Obama shamelessly flip-flops on missile defense, counting on his buddies in the mainstream media to cover it up for him.
This is another missed opportunity for McCain. McCain should have been railing against this socialist bailout from the beginning. He could have appeared to be the man who united the Republicans and 90 Democrats against Bush, Obama, Pelosi, and Reid's signal biggest socialist program in history. But took the wrong side. He's a maverick all right - a socialist loser just the rest of the Democrats.
Citigroup buys Wackovia. The market continues to correct for the credit crisis.
NYTimes article from 9/20/1999 explains how Fannie Mae is easing credit restrictions on mortgages so people who previously couldn't qualify for loans, people with bad credit, can now get a mortgage. How'd that work out for us?
Boortz has a transcript of the first debate.
Obama is attempting to get Missouri police to respond to what Obama thinks are inaccurate or misleading ads. This is an attempt to get the police to intimidate his opponents pure and simple. Missouri's governor had a thing or two to say about Obama's attempt to intimidate Missouri voters. Boortz is right when he points out that if Obama is this obvious about using government power to intimidate opponents when he's just a candidate, imagine how much he'll use government to intimidate opponents if he becomes president.
Obama shamelessly flip-flops on missile defense, counting on his buddies in the mainstream media to cover it up for him.
Sunday, September 28, 2008
Free kibbles
The latest plan has the government buying shares in these failing companies. No mention of loans. Paulson doesn't want to do loans. Naturally he doesn't. This plan went from bad to worse. If the Treasury has 45 days to write guidelines on how it's going to implement the plan, what the rush on legislation? Why can't we spend 45 days debating it including those guidelines? This whole thing stinks to high heaven. It's a conspiracy to radically expand government power, and both parties are in on it.
Warren Buffet informs us that Paulson plans to pay the highest possible price for the problem securities, the mark-to-maturity price. It's interesting that Paulson wants to pay that price while the the administration still requires the financial institutions to price them at mark-to-market. The SEC could change that rule with the stroke of a pen, but it's pretty obvious Bush and Paulson don't want to change it. I agree with Newt that Paulson and his buddies are running roughshod right over Bush, and Bush is so dogmatically loyal, he's falling for it. I think there's a conspiracy going on here. Newt calls for Paulson's resignation. He shouldn't stop there. He should join me in calling for Paulson, Bernanke, Dodd, and Frank to all resign.
When a crisis like this happens, you should never trust the people who were in charge and who didn't stop it to come up with the solution. That makes it too easy to engineer a crisis for a future power grab. Bush's first move should have been to fire Paulson and Bernanke and to demand the resignation of Dodd and Frank. Once that happened, people who weren't responsible for the crisis, and therefore had no baggage regarding it, and who couldn't have engineered it, could have solved it.
UN security council passes another weak sanctions package against Iran because of its nuclear program.
Private company puts space ship into orbit.
Congressman Mike Pence from Indiana, who supported as House minority leader, still opposes this buyout/bailout. Good for him.
This guy has a good point. Anybody can better articulate plans and principles that are good for America better than the Republicans, Democrats, Libertarians or another other party, and we all have a format if we want to go for it - YouTube.
Walter Williams is half-right. Things really are gloomy. Unless we fix it, we really are facing the end of the US as we know it within a generation because of entitlement spending. And there's not a reason in hell to believe our politicians will fix it before we collapse. Any more than they fixed the long predicted credit crisis before it blew up. But nobody's talking about that issue. We keep falling for the crisis de jour. And we keep re-electing the foxes who raided the hen house to protect it after the fact.
I agree with Dick Morris that this credit crisis could win McCain the election, and big, if he opposes the buyout/bailout and can unite the House Republicans against it. The problem is McCain has already given tenative support, and it looks like plenty of House Republicans have caved. This is a gift horse for McCain. It allows him to be a leader of Republicans and differentiate himself from Obama and Bush while linking those 2 together. But McCain has run a terrible campaign, failing to point out any of Obama's radicalism, and I think he's screw this up too.
In an expose of the worst run organization in America, the Federal government, Reason explains that free markets and capitalism have nothing to do with the credit crisis. The accounting practices of the government would hysterical if they weren't so dangerous. They also provide an interesting, concise definition of corporatism.
Scientists discover world's oldest rocks at 4.28 billion years. I want to know if they have evidence of life at that time.
Interesting essay explains that people project their own archtypes on the candidates, which would explain the irrational bipartisanism surrounding out elections. This makes a lot of sense. No wonder I've never been a partisan. I just thought elections were about examining the candidates' positions, records and character then making a choice. No wonder it's so hard to communicate with partisans.
Obama's slum lord fund-raiser and recipient of millions of taxpayers dollars funneled to him by Obama is in negotiations to cooperate with the feds after his corruption convictions. The press will bury this story until after the election.
Well written analysis of how government created the subprime mortgage mess that has paralyzed our entire financial industry.
Another well written analysis debunks the blaming of greed and deregulation. I especially like Alan Greenspan's quote blaming low interest rates without noting he was the guy responsible for those low interest rates.
George Will discussed the downside of early, easy voting. How easy should voting be? Do we really want people too lazy to go to the polls to vote? Of course we want absentee voting for people who would vote in their home districts but are blocked by doing so by circumstances. Military personnel come immediately to mind, but this should apply to anybody. But I can walk to my polling station. It's no more than a quarter mile as the crow flies. But if I was too lazy to do that, should government make it so easy I could vote anyway?
Warren Buffet informs us that Paulson plans to pay the highest possible price for the problem securities, the mark-to-maturity price. It's interesting that Paulson wants to pay that price while the the administration still requires the financial institutions to price them at mark-to-market. The SEC could change that rule with the stroke of a pen, but it's pretty obvious Bush and Paulson don't want to change it. I agree with Newt that Paulson and his buddies are running roughshod right over Bush, and Bush is so dogmatically loyal, he's falling for it. I think there's a conspiracy going on here. Newt calls for Paulson's resignation. He shouldn't stop there. He should join me in calling for Paulson, Bernanke, Dodd, and Frank to all resign.
When a crisis like this happens, you should never trust the people who were in charge and who didn't stop it to come up with the solution. That makes it too easy to engineer a crisis for a future power grab. Bush's first move should have been to fire Paulson and Bernanke and to demand the resignation of Dodd and Frank. Once that happened, people who weren't responsible for the crisis, and therefore had no baggage regarding it, and who couldn't have engineered it, could have solved it.
UN security council passes another weak sanctions package against Iran because of its nuclear program.
Private company puts space ship into orbit.
Congressman Mike Pence from Indiana, who supported as House minority leader, still opposes this buyout/bailout. Good for him.
This guy has a good point. Anybody can better articulate plans and principles that are good for America better than the Republicans, Democrats, Libertarians or another other party, and we all have a format if we want to go for it - YouTube.
Walter Williams is half-right. Things really are gloomy. Unless we fix it, we really are facing the end of the US as we know it within a generation because of entitlement spending. And there's not a reason in hell to believe our politicians will fix it before we collapse. Any more than they fixed the long predicted credit crisis before it blew up. But nobody's talking about that issue. We keep falling for the crisis de jour. And we keep re-electing the foxes who raided the hen house to protect it after the fact.
I agree with Dick Morris that this credit crisis could win McCain the election, and big, if he opposes the buyout/bailout and can unite the House Republicans against it. The problem is McCain has already given tenative support, and it looks like plenty of House Republicans have caved. This is a gift horse for McCain. It allows him to be a leader of Republicans and differentiate himself from Obama and Bush while linking those 2 together. But McCain has run a terrible campaign, failing to point out any of Obama's radicalism, and I think he's screw this up too.
In an expose of the worst run organization in America, the Federal government, Reason explains that free markets and capitalism have nothing to do with the credit crisis. The accounting practices of the government would hysterical if they weren't so dangerous. They also provide an interesting, concise definition of corporatism.
Scientists discover world's oldest rocks at 4.28 billion years. I want to know if they have evidence of life at that time.
Interesting essay explains that people project their own archtypes on the candidates, which would explain the irrational bipartisanism surrounding out elections. This makes a lot of sense. No wonder I've never been a partisan. I just thought elections were about examining the candidates' positions, records and character then making a choice. No wonder it's so hard to communicate with partisans.
Obama's slum lord fund-raiser and recipient of millions of taxpayers dollars funneled to him by Obama is in negotiations to cooperate with the feds after his corruption convictions. The press will bury this story until after the election.
Well written analysis of how government created the subprime mortgage mess that has paralyzed our entire financial industry.
Another well written analysis debunks the blaming of greed and deregulation. I especially like Alan Greenspan's quote blaming low interest rates without noting he was the guy responsible for those low interest rates.
George Will discussed the downside of early, easy voting. How easy should voting be? Do we really want people too lazy to go to the polls to vote? Of course we want absentee voting for people who would vote in their home districts but are blocked by doing so by circumstances. Military personnel come immediately to mind, but this should apply to anybody. But I can walk to my polling station. It's no more than a quarter mile as the crow flies. But if I was too lazy to do that, should government make it so easy I could vote anyway?
Saturday, September 27, 2008
Free kibbles
Senate passed $634 billion spending bill 78-12. When will the public force Republicans to quit pretending they support smaller government? Boortz has more on this continuing resolution. Apparently it was intentionally done in a back room deal and raced through Congress before anybody could read it. The Democrat who spearheaded this bill, House Appropriation Committee Chairman Obey, is proud of keeping it a secret from the people, the press and our representatives.
Having just lifted the ban on offshore drilling, a top priority of Democrats next year will be to put it back. Letting the ban lapse is just an election year ploy.
Venezuela is buying $1 billion in Russian weapons. Lovely.
Chinese astronauts perform first space walk.
Entertaining video show how much money Fannie Mae and Freddie Mac gave to key Democrats to cover up their corruption.
Democrats are trying to use this bailout to fund a permanent slush fund so they funnel money to ACORN and other radical community organizer groups. ACORN struck pay dirt when it hired Obama. I wonder why McCain hasn't made ACORN an issue. He should force Obama to defend that Marxist group every day. House Republican majority leader Boehner identifies the huge pork allocations in the bill for Democrat special interest groups including ACORN.
Paul Newman died.
Where in the world did Bill Clinton suddenly find this newfound honesty, including acknowledging his Fannie and Freddie policy was partly responsible for this financial meltdown? He doesn't go all the way and point out the widespread corruption between Fannie, Freddie, and Democrats, but he does criticize Democrats for their failure to allow oversight of the GSEs. Clinton wants Obama to lose so bad, he's willing to tell the truth for once.
CNN has a nice article showing how Iraq is moving forward with elections and political reconciliation enabled by the success of the surge, just as promised. Joe Biden lies about the reconciliation, just like Obama and most Democrats. I bet newly honest Bill Clinton would acknowledge the progress.
Illinois is investigating a grant given by Obama to a supporter in 2001. Do you think the media blanket this story like they have the trooper gate story in an attempt to smear Sarah Palin? They've ignored Obama's multiple millions in grants to Rezko and other corrupt Chicago slumlords, so I don't think they'll even blink an eye at this.
Stanley Kurtz provides an update on how Obama's buddies from the Chicago Annenberg Challenge attempted to cover up and deny access to their records to keep the public from discovering the extent of the relationship between Obama and Bill Ayers. Kurtz published private email between the parties.
Ron Paul votes against disaster recovery bill for his own district. Good for him. His words and his actions jive.
Article shows how the press blanketed coverage of Enron, but virtually ignored the much greater corruption and hazard of Fannie Mae and Freddie Mac. That's media bias. Because the press hates capitalism, they were all over the Enron scandal like it was the end of the world, but because the press loves socialism, they buried the Fannie and Freddie story. It borders on criminal that Chris Dodd and Barney Frank still have their jobs.
Congressman tells Jews and blacks they should be scared of Sarah Palin because she owns guns and hunts moose. Can you imagine if a Republican had said that? Can you imagine if anybody had said that about a black person or a Jew or a Muslim? It's unbelievable the crap that Democrats get away with, and it's unbelievable the crap Christians have to put up with. This man should be forced to resign immediately.
John Stossel says the goverment should stay out of the market and let it deal with the financial crisis. He explains that the existence of Fannie and Freddie perverted the mortgage market.
Before the debate, I thought McCain's idea to suspend his campaign and work on the mortgage bailout, uniting Republicans behind a solution with free market principles, was a great idea just like Dick Morris. But to make it worthwhile, McCain had to deliver on it in the debate. But by Morris's own account, he didn't. His failure to powerfully differentiate his jumping into the debate while Obama campaigned, and his protection of the taxpayers money by urging loans instead of a buyout is hard to understand.
The BBC purposely biasing its programs for global warming propaganda? Say it isn't so.
Having just lifted the ban on offshore drilling, a top priority of Democrats next year will be to put it back. Letting the ban lapse is just an election year ploy.
Venezuela is buying $1 billion in Russian weapons. Lovely.
Chinese astronauts perform first space walk.
Entertaining video show how much money Fannie Mae and Freddie Mac gave to key Democrats to cover up their corruption.
Democrats are trying to use this bailout to fund a permanent slush fund so they funnel money to ACORN and other radical community organizer groups. ACORN struck pay dirt when it hired Obama. I wonder why McCain hasn't made ACORN an issue. He should force Obama to defend that Marxist group every day. House Republican majority leader Boehner identifies the huge pork allocations in the bill for Democrat special interest groups including ACORN.
Paul Newman died.
Where in the world did Bill Clinton suddenly find this newfound honesty, including acknowledging his Fannie and Freddie policy was partly responsible for this financial meltdown? He doesn't go all the way and point out the widespread corruption between Fannie, Freddie, and Democrats, but he does criticize Democrats for their failure to allow oversight of the GSEs. Clinton wants Obama to lose so bad, he's willing to tell the truth for once.
CNN has a nice article showing how Iraq is moving forward with elections and political reconciliation enabled by the success of the surge, just as promised. Joe Biden lies about the reconciliation, just like Obama and most Democrats. I bet newly honest Bill Clinton would acknowledge the progress.
Illinois is investigating a grant given by Obama to a supporter in 2001. Do you think the media blanket this story like they have the trooper gate story in an attempt to smear Sarah Palin? They've ignored Obama's multiple millions in grants to Rezko and other corrupt Chicago slumlords, so I don't think they'll even blink an eye at this.
Stanley Kurtz provides an update on how Obama's buddies from the Chicago Annenberg Challenge attempted to cover up and deny access to their records to keep the public from discovering the extent of the relationship between Obama and Bill Ayers. Kurtz published private email between the parties.
Ron Paul votes against disaster recovery bill for his own district. Good for him. His words and his actions jive.
Article shows how the press blanketed coverage of Enron, but virtually ignored the much greater corruption and hazard of Fannie Mae and Freddie Mac. That's media bias. Because the press hates capitalism, they were all over the Enron scandal like it was the end of the world, but because the press loves socialism, they buried the Fannie and Freddie story. It borders on criminal that Chris Dodd and Barney Frank still have their jobs.
Congressman tells Jews and blacks they should be scared of Sarah Palin because she owns guns and hunts moose. Can you imagine if a Republican had said that? Can you imagine if anybody had said that about a black person or a Jew or a Muslim? It's unbelievable the crap that Democrats get away with, and it's unbelievable the crap Christians have to put up with. This man should be forced to resign immediately.
John Stossel says the goverment should stay out of the market and let it deal with the financial crisis. He explains that the existence of Fannie and Freddie perverted the mortgage market.
Before the debate, I thought McCain's idea to suspend his campaign and work on the mortgage bailout, uniting Republicans behind a solution with free market principles, was a great idea just like Dick Morris. But to make it worthwhile, McCain had to deliver on it in the debate. But by Morris's own account, he didn't. His failure to powerfully differentiate his jumping into the debate while Obama campaigned, and his protection of the taxpayers money by urging loans instead of a buyout is hard to understand.
The BBC purposely biasing its programs for global warming propaganda? Say it isn't so.
Friday, September 26, 2008
Free kibbles
JPMorgan buys Washington Mutual Bank.
Somali pirates capture Ukranian ship carrying 33 tanks. I guess it never crossed the Ukranians' minds to protect that ship in pirate infested waters.
McCain agrees to debate. Now I think this is a smooth move. His position now is he made the gesture to suspend his campaign and cancel the debate for the good of the country. Obama didn't make that sacrifice. McCain went to Washington and stood up to the socialist forces of Bush and Democrats, showing real leadership in making an alternative proposal feasible. Obama didn't. Then McCain was still able to make the debate. I think McCain looked quite a bit like a leader in this situation while Obama looked like a typical politician. If McCain does well at the debate tonight, he's going to leave Obama looking second rate all the way around.
The Washington Post runs a great article describing how this huge bailout proposal has created market value for Cato scholars espousing libertarian ideals. This is nice portrait of Cato.
In 1997, Cato describes how Fannie Mae and Freddie Mac, because they are government protected organizations, were putting the entire financial market and therefore taxpayers at risk. It also describes the role of the Community Reinvestment Act. This stuff isn't rocket science, and this collapse was anything but unexpected.
Author explains that Wall Street as we knew it no longer exists. He also explains that trying to blame this crisis on deregulation is absurd, his word and mine.
Cato scholar highlights how often politicians appear to be surprised by the obvious, and he lists numerous examples from the US and abroad. Very entertaining and humorous, but he ends seriously when he explains why this happens and calls for criminal prosecution for them. The cure for this problem is severely limited government.
Links to many Cato articles on the financial crisis. I could have used that last week.
Cato recommends privatizing NASA, pointing out that NASA is making space flight more expensive instead of cheaper.
Insight into the process of negotiating the biggest socialist program in history.
Reason asks a number of free market economists the same 3 questions about the current economic crisis. I wish they had asked for alternative solutions.
Somali pirates capture Ukranian ship carrying 33 tanks. I guess it never crossed the Ukranians' minds to protect that ship in pirate infested waters.
McCain agrees to debate. Now I think this is a smooth move. His position now is he made the gesture to suspend his campaign and cancel the debate for the good of the country. Obama didn't make that sacrifice. McCain went to Washington and stood up to the socialist forces of Bush and Democrats, showing real leadership in making an alternative proposal feasible. Obama didn't. Then McCain was still able to make the debate. I think McCain looked quite a bit like a leader in this situation while Obama looked like a typical politician. If McCain does well at the debate tonight, he's going to leave Obama looking second rate all the way around.
The Washington Post runs a great article describing how this huge bailout proposal has created market value for Cato scholars espousing libertarian ideals. This is nice portrait of Cato.
In 1997, Cato describes how Fannie Mae and Freddie Mac, because they are government protected organizations, were putting the entire financial market and therefore taxpayers at risk. It also describes the role of the Community Reinvestment Act. This stuff isn't rocket science, and this collapse was anything but unexpected.
Author explains that Wall Street as we knew it no longer exists. He also explains that trying to blame this crisis on deregulation is absurd, his word and mine.
Cato scholar highlights how often politicians appear to be surprised by the obvious, and he lists numerous examples from the US and abroad. Very entertaining and humorous, but he ends seriously when he explains why this happens and calls for criminal prosecution for them. The cure for this problem is severely limited government.
Links to many Cato articles on the financial crisis. I could have used that last week.
Cato recommends privatizing NASA, pointing out that NASA is making space flight more expensive instead of cheaper.
Insight into the process of negotiating the biggest socialist program in history.
Reason asks a number of free market economists the same 3 questions about the current economic crisis. I wish they had asked for alternative solutions.
Thursday, September 25, 2008
Free kibbles
Both parties have agreed in principle to Paulson's buyout/bailout plan. That's because neither party has principles. Apparently the parties have compromised between a titanic, socialist power grab and an even more titanic, socialist power grab. Those are the only 2 choices the 2 parties ever give us. The big winners are the same government aristocrats who oversaw this disaster, all the socialists in government, and the big investors in the firms that were facing disaster. The CEO pay provisions are a ruse - the CEOs are generally the biggest shareholders, and they'll make out like the world's biggest bandits regardless of pay restrictions. This is the biggest reward for failure in history. The biggest losers are all of us.
Holy crap! Thank you John McCain for leading Republicans to break with Bush and his allies Democrats from the biggest socialist buyout/bailout in history. I keep saying that Barack Obama is the candidate who represents more of the Bush socialism, but even worse. Now McCain is finally driving that point home and doing the right thing for Americans. This certainly isn't the best plan, and I would prefer a better plan, but this is a tremendous repudiation of the Bush/Democrat/socialism agenda.
Religious groups invite Iranian President Ahmadinejad to honorary dinner. You've got to be kidding me.
Holy crap! Thank you John McCain for leading Republicans to break with Bush and his allies Democrats from the biggest socialist buyout/bailout in history. I keep saying that Barack Obama is the candidate who represents more of the Bush socialism, but even worse. Now McCain is finally driving that point home and doing the right thing for Americans. This certainly isn't the best plan, and I would prefer a better plan, but this is a tremendous repudiation of the Bush/Democrat/socialism agenda.
Religious groups invite Iranian President Ahmadinejad to honorary dinner. You've got to be kidding me.
Wednesday, September 24, 2008
Free kibbles
Warren Buffet buys $5 billion stake in Goldman-Sachs. This is how to resolve the credit crisis.
Bernanke claims this credit crisis is the greatest threat to the economy since the Great Depression. We have 100 years of creeping socialism from both Republicans and Democrats to thank for that.
The law firm of one of McCain's aids, Rick Davis, receives $15,000 per month from Fannie Mae and Freddie Mac. This aid has never lobbied on behalf of Fannie or Freddie. Compare this to Obama who has personally received around $100,000 and his aid Jim Johnson was CEO of Fannie and walked away with 10s of millions. Further, Obama solicited economic and housing advice from former Fannie CEO Franklin Raines, who also took 10s of millions from Fannie. Both those CEO has been implicated in the corruption. There's no comparison between the campaigns. Obama is up to his eyeballs in subprime corruption, and he has been his entire career, since he was a community organizer for ACORN, to when he was lawyer for ACORN to when he was state senator funneling taxpayer money to Tony Rezko and other slum lords, to when he joined the US senate and immediately became one of Fannie and Freddie's biggest recipients of money for favors. But the press will ignore Obama's lifelong subprime corruption and try to slime McCain because of this adviser's firm.
ABC poll shows Obama up 52 to 43 because of economic issues. Looks like the Fox poll shows Obama ahead too.
Palin attempts to block press from meeting with Afghanistan President Karzai. I think McCain is screwing up once again. The best thing he's got going for his campaign is Sarah Palin. She generated all the excitement. She brought McCain to even in the polls. I know the press is working overtime to try and discredit her, but the people love her. She doesn't have to take questions from the press, but she should be surrounded by press constantly. She's kind of disappeared, and that's not good for McCain. The other thing he's done is make her basically parrot his positions. She's no good as a parrot. The people like her much better than they like McCain. He should turn her loose and let her be herself.
Solar wind weakest in 50 years.
Michelle Malkin explains the role of illegal immigrants in the subprime crisis, but she fails to make the case that it was a significant factor.
Obama may delay his spending plans because of economic problems. That shows he recognizes that his programs will hurt the economy. Why would anybody vote for a guy who's programs will hurt the economy?
After 7 years and 9 months, House Republicans finally stand up to Cheney and the Bush administration. Talk about too little, too late. I'm really afraid Bush and his Democrat cohorts are going to ram through the single largest peace-time government power grab in US history. But you have to love Newt. He's exactly right that McCain should call this the Bush/Obama socialist bailout plan.
Apparently the SEC could change the mark-to-market accounting requirement and effectively fix this credit crisis with the stroke of a pen. I'm telling you, it's a conspiracy for the biggest peace-time power grab in US history. That rule was just implemented last November, when the credit crisis started.
Airport screening machine detects terrorist intent. Right. Haven't these people ever heard of false positives?
Barack Obama sought and received the support of a Marxist political party in his run for Illinois state senate in 1996. This guy has sought out, won the support from, and surrounded himself his entire adult life.
Fannie Mae and Freddie Mac's CEOs got their money's worth from Chris Dodd and Democrats. Just 2 months ago, Senate Finance Chair Chris Dodd proclaimed that Fannie and Freddie were "fundamentally strong" even though Dodd was well aware of the subprime crisis, the corruption and accounting "irregularities" that were being used to pad CEO salaries. And in the same month, Barney Frank is only concerned about CEO compensation, not the corruption that created this crisis. Wow. I bet liberals reelect these guys anyway. Hopefully we can force both to resign.
Letter to my representatives: Given the gross incompetence of the politicians who created this credit crisis, for the good of the country those people must resign. At a minimum, Sec. Paulson, Fed Chairman Bernanke, Senate Finance Chair Dodd, and House Finance Chair Frank should all resign immediately. These men, by interfering in our economy and by their corruption in the subprime mortgage market with Fannie Mae and Freddie Mac own the lion's share of responsibility for this crisis. There must be accountablility. It's an abomination to consider them retaining power, let alone gaining more power. I demand the immediate resignation of Paulson, Bernanke, Dodd, and Frank.
Blogger claims to have connected Sarah Palin smear videos directly to the Obama campaign.
SNL runs skit lampooning NYTimes, but conservatives are outraged because it implies incest between Palin's husband and their daughter.
More details on how Democrats killed the Fannie and Freddie reform bill intended to head off this crisis despite knowing full well about the corruption.
Stanley Kurtz, the reporter who finally opened up records from the Chicago Annenburg Challenge, reports on the details of the professional relationship between Obama and Bill Ayers. Ayers founded the organization, was in the group of 5 that recruited Obama as CEO, and had numerous meetings with Obama, contrary to Obama's claims about his relationshipt with Ayers. Ayers identifies himself as a communist, and the goal of the Challenge was to promote Marxist radicalism in schools, not to improve education. Obama is a dangerous Marxist. He has spent his entire career promoting Marxist ideals, and that's what we can expect from an Obama presidency. His claims to be a moderate and uniter are a fraud.
Text of Gov. Palin's speech that she wasn't able to give because she was disinvited for political reasons from the rally protesting Iranian President Ahmadinejad's appearance at the UN. Too bad. It's a good one.
According to Citizens Against Government Waste, Biden is the worst government official at fighting government waste with a zero score. Obama is terrible with a score of 18 percent. McCain is good, but not great with a score of 88 percent. There's a real difference between the candidates.
It turns out the person who hacked Palin's email is the son of a Democrat Tennessee state legislator. That's not good.
Analysis of the Big Labor agenda and why they're spending a billion dollars on electing their candidates, including Barack Obama. Needless to say, freedom is not anywhere to be found in this agenda.
Bernanke claims this credit crisis is the greatest threat to the economy since the Great Depression. We have 100 years of creeping socialism from both Republicans and Democrats to thank for that.
The law firm of one of McCain's aids, Rick Davis, receives $15,000 per month from Fannie Mae and Freddie Mac. This aid has never lobbied on behalf of Fannie or Freddie. Compare this to Obama who has personally received around $100,000 and his aid Jim Johnson was CEO of Fannie and walked away with 10s of millions. Further, Obama solicited economic and housing advice from former Fannie CEO Franklin Raines, who also took 10s of millions from Fannie. Both those CEO has been implicated in the corruption. There's no comparison between the campaigns. Obama is up to his eyeballs in subprime corruption, and he has been his entire career, since he was a community organizer for ACORN, to when he was lawyer for ACORN to when he was state senator funneling taxpayer money to Tony Rezko and other slum lords, to when he joined the US senate and immediately became one of Fannie and Freddie's biggest recipients of money for favors. But the press will ignore Obama's lifelong subprime corruption and try to slime McCain because of this adviser's firm.
ABC poll shows Obama up 52 to 43 because of economic issues. Looks like the Fox poll shows Obama ahead too.
Palin attempts to block press from meeting with Afghanistan President Karzai. I think McCain is screwing up once again. The best thing he's got going for his campaign is Sarah Palin. She generated all the excitement. She brought McCain to even in the polls. I know the press is working overtime to try and discredit her, but the people love her. She doesn't have to take questions from the press, but she should be surrounded by press constantly. She's kind of disappeared, and that's not good for McCain. The other thing he's done is make her basically parrot his positions. She's no good as a parrot. The people like her much better than they like McCain. He should turn her loose and let her be herself.
Solar wind weakest in 50 years.
Michelle Malkin explains the role of illegal immigrants in the subprime crisis, but she fails to make the case that it was a significant factor.
Obama may delay his spending plans because of economic problems. That shows he recognizes that his programs will hurt the economy. Why would anybody vote for a guy who's programs will hurt the economy?
After 7 years and 9 months, House Republicans finally stand up to Cheney and the Bush administration. Talk about too little, too late. I'm really afraid Bush and his Democrat cohorts are going to ram through the single largest peace-time government power grab in US history. But you have to love Newt. He's exactly right that McCain should call this the Bush/Obama socialist bailout plan.
Apparently the SEC could change the mark-to-market accounting requirement and effectively fix this credit crisis with the stroke of a pen. I'm telling you, it's a conspiracy for the biggest peace-time power grab in US history. That rule was just implemented last November, when the credit crisis started.
Airport screening machine detects terrorist intent. Right. Haven't these people ever heard of false positives?
Barack Obama sought and received the support of a Marxist political party in his run for Illinois state senate in 1996. This guy has sought out, won the support from, and surrounded himself his entire adult life.
Fannie Mae and Freddie Mac's CEOs got their money's worth from Chris Dodd and Democrats. Just 2 months ago, Senate Finance Chair Chris Dodd proclaimed that Fannie and Freddie were "fundamentally strong" even though Dodd was well aware of the subprime crisis, the corruption and accounting "irregularities" that were being used to pad CEO salaries. And in the same month, Barney Frank is only concerned about CEO compensation, not the corruption that created this crisis. Wow. I bet liberals reelect these guys anyway. Hopefully we can force both to resign.
Letter to my representatives: Given the gross incompetence of the politicians who created this credit crisis, for the good of the country those people must resign. At a minimum, Sec. Paulson, Fed Chairman Bernanke, Senate Finance Chair Dodd, and House Finance Chair Frank should all resign immediately. These men, by interfering in our economy and by their corruption in the subprime mortgage market with Fannie Mae and Freddie Mac own the lion's share of responsibility for this crisis. There must be accountablility. It's an abomination to consider them retaining power, let alone gaining more power. I demand the immediate resignation of Paulson, Bernanke, Dodd, and Frank.
Blogger claims to have connected Sarah Palin smear videos directly to the Obama campaign.
SNL runs skit lampooning NYTimes, but conservatives are outraged because it implies incest between Palin's husband and their daughter.
More details on how Democrats killed the Fannie and Freddie reform bill intended to head off this crisis despite knowing full well about the corruption.
Stanley Kurtz, the reporter who finally opened up records from the Chicago Annenburg Challenge, reports on the details of the professional relationship between Obama and Bill Ayers. Ayers founded the organization, was in the group of 5 that recruited Obama as CEO, and had numerous meetings with Obama, contrary to Obama's claims about his relationshipt with Ayers. Ayers identifies himself as a communist, and the goal of the Challenge was to promote Marxist radicalism in schools, not to improve education. Obama is a dangerous Marxist. He has spent his entire career promoting Marxist ideals, and that's what we can expect from an Obama presidency. His claims to be a moderate and uniter are a fraud.
Text of Gov. Palin's speech that she wasn't able to give because she was disinvited for political reasons from the rally protesting Iranian President Ahmadinejad's appearance at the UN. Too bad. It's a good one.
According to Citizens Against Government Waste, Biden is the worst government official at fighting government waste with a zero score. Obama is terrible with a score of 18 percent. McCain is good, but not great with a score of 88 percent. There's a real difference between the candidates.
It turns out the person who hacked Palin's email is the son of a Democrat Tennessee state legislator. That's not good.
Analysis of the Big Labor agenda and why they're spending a billion dollars on electing their candidates, including Barack Obama. Needless to say, freedom is not anywhere to be found in this agenda.
Tuesday, September 23, 2008
Finance Buyout/Bailout Madness
I'm beginning to think this whole credit crisis buyout/bailout is a scam. Bernanke says Congress must act quickly or the entire economy is at risk. Why didn't he say this a month ago? Why didn't he say this a year ago? This credit crisis isn't new. Why must it be passed with no analysis and no debate? The Bush administration knew it was coming in 2003 when it tried to fix Fannie Mae and Freddie Mac. McCain introduced legislation in 2005 to fix it. Democrats blocked both attempts. The crisis hit a year ago. So why did government piddle around for a year, or 3 years or 5 years, allow this crisis to hit, then suddenly proclaim Congress must enact an unprecedented power grab into the financial markets to resolve it, especially when there are other, far less intrusive options on the table? Article calls this response blind panic. I guess that's another alternative explanation.
I'm tired of the double-speak about this crisis. I'm tired of talking heads and government aristocrats calling these mortgage securities illiquid and claiming there is no market for them. They're not telling us the whole story. There is no market for them at a given price. They are illiquid at a given price. They are liquid, and there is a market at a lower, fire sale, price. The primary reason the companies aren't selling them at that lower price and eating the losses is the companies know they are going to get bailed out. The secondary reason they don't want to sell them is the mark-to-market accounting mandate makes the fire sale price lower than it would be naturally.
I have an alternative plan to fix the markets:
1. Inform everybody there will be no more buyout/bailout/rescues ever. Investors who made bad investments will reap what they sowed and eat their losses, so they better find a way to minimize them.
2. Repeal the mandate for mark-to-market accounting that makes no sense on long term investments like mortgages. This will allow companies holding those mortgages to sell them at a natural discounted price.
3. Completely privatize Fannie Mae and Freddie Mac so they can never corrupt our financial markets again.
4. Repeal the Community Reinvestment Act so lenders can never be forced to make bad loans again.
5. Force the Fed to enforce its mandate to keep inflation low instead of allowing socialists like Greenspan to use irresponsibly loose monetary policy to create economic bubbles like the dotcom and the housing bubble.
6. Abolish the income tax and adopt the FairTax.
Newt Gingrich provides a rational analysis of the Paulson plan, which he understands will become the Paulson, Obama, Pelosi, Reid plan, and finds it wanting. He alternatively proposes 4 market-based solutions that will fix our economy by extracting government from our markets.
If Finland implements gun control, crime will rise in Finland the same way it rises everywhere else in the world where gun control is implemented.
I'm tired of the double-speak about this crisis. I'm tired of talking heads and government aristocrats calling these mortgage securities illiquid and claiming there is no market for them. They're not telling us the whole story. There is no market for them at a given price. They are illiquid at a given price. They are liquid, and there is a market at a lower, fire sale, price. The primary reason the companies aren't selling them at that lower price and eating the losses is the companies know they are going to get bailed out. The secondary reason they don't want to sell them is the mark-to-market accounting mandate makes the fire sale price lower than it would be naturally.
I have an alternative plan to fix the markets:
1. Inform everybody there will be no more buyout/bailout/rescues ever. Investors who made bad investments will reap what they sowed and eat their losses, so they better find a way to minimize them.
2. Repeal the mandate for mark-to-market accounting that makes no sense on long term investments like mortgages. This will allow companies holding those mortgages to sell them at a natural discounted price.
3. Completely privatize Fannie Mae and Freddie Mac so they can never corrupt our financial markets again.
4. Repeal the Community Reinvestment Act so lenders can never be forced to make bad loans again.
5. Force the Fed to enforce its mandate to keep inflation low instead of allowing socialists like Greenspan to use irresponsibly loose monetary policy to create economic bubbles like the dotcom and the housing bubble.
6. Abolish the income tax and adopt the FairTax.
Newt Gingrich provides a rational analysis of the Paulson plan, which he understands will become the Paulson, Obama, Pelosi, Reid plan, and finds it wanting. He alternatively proposes 4 market-based solutions that will fix our economy by extracting government from our markets.
If Finland implements gun control, crime will rise in Finland the same way it rises everywhere else in the world where gun control is implemented.
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