Awesome story of the week and some that are horrible

Astonishing Tales Of Insanity: The 23-Mile Parachute Jump vs. Rocket Sled (Deadspin) with Gasoline

Questions?
Why in the hell did someone make a spatula with holes in it. There is always leftover food stuck after cooking breakfast.


I have found a new favorite. Cheesy bacon waffle fries is a gratuitous master piece of North American culture food. Its half of the food pyramid, and its just appetizer.

How can people want to cut food stamps for people who are starving, but where cheering for the taxpayer financed bailout before they realized how many bonuses those "bailed out once thought to big to fail companies" where giving to their executives that screwed these companies up in the first place? Congratulations for scamming the taxpayers out of their hard earned money then convince them the government is trying to set regulations for how much you can earn.
What I Learned at the AIG Meltdown [Wall Street Journal]
There are four key points to bear in mind:

"One, the insurance policyholders at AIG were protected by reserves that each of the insurance companies are required to hold by state regulation
Two, the unregulated use of credit default swaps and other high-risk instruments by AIG Financial Products,...caused AIG to stumble and threatened the financial system.
Three, in September 2008 the Federal Reserve acted to protect the financial system from what it believed to be an imminent risk of catastrophic damage from AIG Financial Products.
Four, in November 2008, when the Fed restructured its AIG financing..the Fed had over $70 billion already at risk with AIG and was appropriately considering the value and operations of AIG's insurance companies....
The essential lesson of AIG, and of the broader crisis, is the need to reform financial regulation. And that reform should learn from state insurance regulation. One major cause of the subprime disaster was that those who originated mortgages and derivatives could sell them and not worry about their risk or capitalization."[Eric Dinallo Wall Street Journal]

And once again, politicians act like their angry, but they know who owns them. NEW York Times

Rock Bottom

The Economy has truly highlighted the disparity between the poor and rich. I think the middle class has realized that they are a lot closer to being poor than that top 1%. For when you consider it, the only people this economy is truely affecting is the large middle class. The wealthy have lost money but not enough to truely effect their lifestyle, while the middle class who were invested in the almighty stock market have most likely lost half of their worth and cant get loans that are necessary to survive (Small business, Car loans, etc.). Meanwhile the Poor couldn't get loans before except from predatory lending services like... Payday Loans and they weren't invested in shit because they didn't have the discretionary income nor the network to direct them to sound investments. Banks wouldn't help them get a house, so the only thing that has truely changed for the poor is the cost of living (Food, Rent, Gas, Bills) which have all gone up. But they could care less about this whole discussion on fixing the economy because they were never considered part of the system anyways. One thing is apparent though, a lot more people know what it means to be broke as fuck for whatever reason. ROCK BOTTOM, why the hell didn't they hand out the 700 billion to the citizens. That would have stimulated the economy, we clearly don't have a problem knowing how to spend money. Its not being able to save money that screwed everything up.
Eminem - Rock Bottom
eminem: rock bottom

Asshole, go kill yourself. Good work

R.I.H (Rest in Hell) David Kellerman CFO of Fannie Mac, or former CFO I doubt he will be able to carry out his duties in hell.

Kellermann, 41, was found dead yesterday morning in his Fairfax County home in an apparent suicide, police said. He left no note, law enforcement sources said, and his motivations were not known. ...
Kellermann was found by his wife, Donna, yesterday in the basement of their home in the upscale Hunter Mill Estates subdivision in Vienna, law enforcement sources said. He had hanged himself on a piece of exercise equipment, the sources said. There were no signs of foul play. His body was taken to the office of the medical examiner, who will rule on the cause of death...
Yet Kellermann has also figured in recent controversies at Freddie Mac. He and a group of company attorneys tussled with its regulator in early March as the firm prepared to file its quarterly earnings report with the Securities and Exchange Commission. The group insisted that Freddie Mac inform shareholders of the cost to the company of helping carry out the Obama administration's housing recovery plan. The regulator urged the company not to do so, according to several sources familiar with the matter. An FHFA official contested that account, saying the regulator did not oppose disclosure but how the information was portrayed in the filing...

Earlier this month, Freddie Mac and Fannie Mae were criticized on Capitol Hill after outlining plans to pay $210 million in retention bonuses to 7,600 employees over 18 months. Those payments included an $850,000 bonus for Kellermann disbursed over a year and a half. He had already received $170,000. Top lawmakers have demanded that employees pay back money they've received and that the companies suspend all bonuses.

During the uproar over bonuses, Kellermann's wife sent an e-mail to neighbors letting them know that a security detail was guarding the house, one recalled. Another neighbor said the Kellermanns hadn't wanted the protection -- they were reluctant to see Freddie's troubles intrude so publicly on their private lives.(Washingtonpost)

What do you mean you needed to explain the cost due to Obama, you ungrateful asshole you wouldn't have a job if the government didn't bail out freddie in fannie to the tune of 60 Billion dollars. How would you have a job with out that, go ahead blame someone else, the government didn't make you take this job. You could have said no!
Was Kellerman doing a good enough job to have earned 1 million in bonuses the year the company he works for aint worth shit. Bonuses from tax payer money none the less.
And cry me a river, "reluctant to see freddies troubles intrude so publicly on their private lives." Once again don't take the job, and what the hell where they expecting 60 BILLION dollars, yeah the public is going to bug you. You must not have wanted your lives to private with all of the parties you hosted at your house with most likely bonus money. Now its a problem when you take over a high profile company, he can always go and be a sanitation engineer and no one would ever want to know his damn name. He and his family also wouldn't be living in a suburb in Virgina on that salary. Thats like movie stars complaining about paparazzi, your life is dependent on public attention. You don't have that much power to turn attention on and off for when its convenient. Dont go to the store if you hate paparazzi, send one of your maids or some shit. That is why you get paid so much. Not just for acting skills but the inconveniences that come with the limelight. Dumb asses.

Chrysler, Unions, And the Obamas get money

The unions are being blamed for the failing of the Chrysler/Fiat deal(MSNBC)

Fiat CEO Sergio Marchionne, in an interview published Wednesday, said the Italian automaker will walk away from a nonbinding agreement to take a 20 percent stake in Chrysler and share its small car technology unless the U.S. automaker’s unions agree to major cost cuts...
Chrysler, which is living on $4 billion in loans from the U.S. government, has to take on a partner and gain concessions from unions and debtholders by April 30, or the Obama administration will stop lending it money. No other suitors have emerged, and it’s likely that no bankruptcy financing will be available, so Chrysler would have little choice but to be auctioned off in pieces...
The uncertainty adds to worries for Chrysler’s 54,000 employees as well as thousands more who work for parts suppliers and dealers across North America.
“There’s definitely some worry and concern about what’s going on,” said Brett Ward, 35, a 15-year Chrysler worker who drives a forklift at an assembly plant in the Detroit suburb of Sterling Heights. “We haven’t been asked to vote on the contract changes yet.”(MSNBC)

Looks like the Union has lost their ability to common sense, with no Chrysler they wont have any jobs. It what if hypothetically the auctioned parts of chrysler which will probably be The dodge truck division and Jeep we bought by investers who move to a right to work state like Texas where Unions have trouble getting established as anything more than a political action committee. If the investers decide that it is futile to keep the factories in locations that have unions with unresonable expectations and a lack of an economy (Michigan, Ohio)to a different state. then the UAW just lost a good portion of their membership and looks retarded after the jobs will never return due to the remaining companies relocating. Once the apperance that the UAW cant do anything for their membership than they lose all negotiation leverage and probably a few thousand members that will rather save their dues then pay an organization that can no longer be depended on.
LOL at the funny union workers that thinks they are going to get to vote on any contract modification. What are they going to do if they dont like contract which gives them less, go on strike?

The Obamas banked last year, 2.6 Million (Washington Post)

Barack Obama's successful quest for the White House powered the sales of his nonfiction books, making him millions even as he assumed the presidency, his tax returns show...As a candidate in 2008, Obama earned about $2.6 million from the sale of his books, "The Audacity of Hope" and "Dreams From My Father," according to returns the White House released yesterday... The tax returns confirm the success Obama has had as an author during the past two years, as his largely autobiographical books have remained high on bestseller lists. His earnings in 2008, in addition to the nearly $4.1 million he earned the year before, put him in the top tier of nonfiction writers in terms of income from book sales.(Washington Post)

Maybe in the spirit of the economy sucking Obama gives more than 50 percent of his income to the IRS in taxes to show some financial sacrifice in a tough economic climate. He is living in government housing where he is only required to pay for his food and has everything else person needs subsidized by citizens. There is probably some poor sap on the payroll that is paid to specifically pick up dog poo. Or I wonder is it a intern type position or is it some former wallstreet analyst from bear stearns working to pay off his debt.

Funny TARP bailout

Goldman Sachs Suddenly has money and would like to repay their super cheap loan back. (Fox Buisness)GOVT better hurry up and take that before Sachs changes their mind.
In the spirit of the Bailout, here is some more comedy.

Crank Yankers - Wanda Sykes

Crank Yankers
Gladys' Conjugal Visit
comedycentral.com
Joke of the Day Stand-Up Comedy Free Online Games

Russel Peters Stand Up Comedy



Eddie Izzard Stand up (Religion)

Eddie Izzard (Do you have a flag?)

Eddie Izzard Stand Up (Plymouth Rock)

Cspan Senate Banking Hearings: Automakers

The Big 3 and UAW are back on capitol hill today, Begging.

- Senate Banking Hearings: Automakers CSPAN.ORG

- UAW made an obvious but strong point about the lack of oversight or guarantees of T.A.R.P.

"If the government could provide a blank check to Wall Street, then the government should be able to provide a bridge loan to the automakers."
Ron Gettelfinger

- Once again Chrysler has nothing to offer. Robert Nardelli their C.E.O made a point to say that all Chrysler vehicles will increase in fuel efficiency from the 2008 to 2009 model year.

As opposed to coming out with the same model every year, just charging the consumers more. That is essentially admitting to fraud by the automakers, if all they were doing is changing badges on the cars and paperwork. Chrysler needs to go, they are a company that has historically lacked vision and creativity. How hard is it to ask the automakers to fire ineffective people.

- Ford really sounds like they try harder than any other automakers in their business plan, and in their proactive reorganization plan that was implemented before this most recent economic downturn.

Max Rameau is coming to your town

"We're matching homeless people with people-less homes."


All the red areas are areas saturated with forclosed homes.

It was only a matter of time before all of these empty homes in markets across the U.S became rent free villa's. Max Rameau is a real life Robin Hood to homeless of Miami.

"MIAMI — Max Rameau delivers his sales pitch like a pro. "All tile floor!" he says during a recent showing. "And the living room, wow! It has great blinds." But in nearly every other respect, he is unlike any real estate agent you've ever met.... Rameau is an activist who has been executing a bailout plan of his own around Miami's empty streets: He is helping homeless people illegally move into foreclosed homes. "We're matching homeless people with people-less homes," he said with a grin.

Rameau and a group of like-minded advocates formed Take Back the Land, which also helps the new "tenants" with secondhand furniture, cleaning supplies and yard upkeep. So far, he has moved six families into foreclosed homes and has nine on a waiting list."I think everyone deserves a home," said Rameau, who said he takes no money from his work with the homeless. "Homeless people across the country are squatting in empty homes. The question is: Is this going to be done out of desperation or with direction?"...

There's a real need here, and there's a disconnect between the need and the law," he said. "Being arrested is just one of the potential factors in doing this." Miami spokeswoman Kelly Penton said city officials did not know Rameau was moving homeless into empty buildings — but they are also not stopping him. "There are no actions on the city's part to stop this," she said in an e-mail. "It is important to note that if people trespass into private property, it is up to the property owner to take action to remove those individuals."Pierre herself could be charged with trespassing, vandalism or breaking and entering. Rameau assured her he has lawyers who will represent her free."[Fox News]

As the market is looking bleak for the very least next year, this will become more of an occurrence in a foreclosed neighborhood near you. The question is are you going to wake up one morning with a crack house next door or a family in need who just wants a roof over their head. To ask the police department to take care of the situation and protect the houses is preposterous. The banks take the house from people who cant afford their A.R.M. that Washington mutual and banks alike told people were safer than a traditional mortgage. The people get kicked out on their ass because they were most likely laid off. The banks run out of money and get 700 billion from the people so that they can afford to take these houses and hold the house until they can get "reasonable value(Bubble Prices)" for the properties. I see this as a bank mortgage when they finish paying off the American people then they can complain. Until then just keep filling your pockets off of free money(T.A.R.P.).

Treasurer Paulson must be a Socialist

"My thinking has evolved a lot to the point where I've seen regulation up close and personal," he said in a series of interviews. It wasn't just the crisis that changed him. It was every bit as much sitting behind the desk where he fashioned new regulation. "I've realized how flawed it is and how imperfect, but how necessary it is,"
Treasury Secretary Henry M. Paulson Jr

Ill take this as an admission to the fact that the free market capitalism, does not work without regulation.
Treasurer Paulson must be a Socialist, he believes in regulation now.

Damn the big 3

Ford, GM, & Chrysler are losers.
The are good at Loosing jobs
They are good at Losing their damn minds.



Why would anyone buy this vehicle if you aren't a Government organization like the FBI? Edmund's.com describes the Ford Excursion as

The Ford Excursion followed in this tradition. This full-size SUV was manufactured between 2000 and 2005, and holds the distinction of being the longest and heaviest sport-utility vehicle ever produced. With seating for up to nine passengers.

9 Passengers? How many families are that size anymore. In the 50's 60's and part of the 70's it was not completely out of the ordinary to see a family of 5 or 6 but 9 is just ridiculous. What is the purpose of 9 passengers, why not just rent a Winnebago if you want to go a trip. But the thought that it was necessary to build such a big vehicle in mass production is just crazy. It highlights are arrogance as a population and the arrogance of the big 3. If We will build it they will buy it. It is not just the big 3 who are involved in feeding on this consumer driven culture, pun intended. All of the automakers have a ridiculous vehicle:

Toyota Sequoia: Seats 8


What is the sense of these big ass vehicles, of course they are fun to drive and makes little people feel protected on the road. You can accomplish the same thing by buying a Tank, and you would get about the same gas mileage as driving these behemoths.

The current state of the U.S. auto market is horrible due to unrealistic expectations and bad leadership. When the Unions forced a renegotiation of their contracts last summer the leadership didn't think about the future of the American Auto Economy. It wasn't a secret that sales & Demand where down. Yet the Unions asked for guarantees to keep the factories of the big energy wasting vehicles open in Detroit. The understanding is there that the Union leaders were looking to secure jobs in a state that is already wasting away. This was their one chance to demonstrate the Vision and get the upper hand on negotiations yet they failed. Just like the industry. This was the Union chance to truly do what is best for workers. Within negotiations they could have asked for many more things that makes sense except the dumb things they agreed to:

assisted their contracts last year
1. 2 new factories equip ed to create "Green Friendly cars"
a. One of those new factories be in Detroit Michigan
b. Another factory to be built in an economically viable area(Not Michigan or the rust belt)
2. Discontinue the creation of large SUV's that are not economically viable
a. If there is no demand why are they creating these super vehicles
b. Has anyone seen a truck lot lately, they have plenty

This is what they agreed to, keep in mind how long can they keep these agreements with a 120 year old business model.

1. Company commitments to invest in new products for its existing U.S. facilities, as well as a moratorium on plant closings.

2.The UAW also was able to secure a commitment to hire 3,000 temporary workers into full-time, traditional employment.

How are they going to keep these commitments to the unions. 3000 temporary JOBS haha, what is UAW going to do if GM doesn't provide these jobs, LOL Nothing out of nothing is Nothing squared.

Yes we need to give another bailout since this is such an important part of our country. They should only give it on these conditions.
1. Fire all the Leadership at those organizations.
A. UAW
B. GM, Ford, Chrysler
I. Just because the the Ford family shares a name with the company they own
they should not be the defacto owners
2. Force the The big 3(GM, Ford, Chrysler) to release all of those patents they have collected to prevent alternate technology to be used. Those should become owned by the general public and should be able to be used by any engineer or company.

A. GM this month said it lost $4.2 billion in the third quarter and almost $73
billion since the end of 2004.(blogger)
3. The big 3 should get rid of all lobbyist that should save 7 million
4. Agreements with developing car companies to mass produce their vehicles
a. Tesla Motors
b. Studebaker Electric bring it back

Some links today and Tech is # 8

The U.S. debt calculated into the GDP :( [Seeking Alpha]

Who would have thought, that the airport screening process would increase theft[NJ.com]

Jim Cramer is sad his show doesnt have a purpose for a while [New York Times]

Texas Tech is #8 in the BCS [ESPN]

FREE MONEY FREE FRAUD Greg Easterbrook

Gregg Easterbrook a writer for the world wide sports leader ESPN, might be insane when comparing Eli to Peyton Manning. He does have a complete understanding about how much our government cares about YOU! In his recent artilcle where he makes the argument that Eli is better than Peyton, Mr. Easterbrook makes valid points about all the elected politicions esentially commiting fraud by not doing their job and the elected polititions who lack a true backbone(Bailout).

Of Course They Vote for More Subsidies, They Themselves Are Subsidized

In the spring, as a dozen Democratic and Republican officeholders were crisscrossing the country campaigning for presidential nominations yet still receiving taxpayer money for jobs they were making no pretense of performing, TMQ declared there should be a federal resign-to-run law. Several states now have resign-to-run laws: They prevent officeholders from taking tax-funded salaries while not doing their jobs. Why is it assumed that saying the words, "I am running for president" makes it OK for a senator to pull in $200,000 or so per year in pay and benefits, yet perform no duties? If you told your employer you would not perform your duties for a year because you were running for president, yet still expected full pay, your employer would say two words that are not "Merry Christmas." Now we're down to four White House-seeking freeloaders, and both parties look bad. All three senators are billing the federal taxpayer to self-promote around the clock; the governor is billing her state's taxpayers to self-promote around the clock. Either presidential candidates should be required to resign to run, or at least anyone who declares for the presidency or vice presidency should have his or her public salaries and benefits suspended.[ESPN Oct, 7, 2008]

What, No Subsidies for Rum-Soaked Wool?

"SENATE ADDS SWEETNERS TO BAILOUT BILL was a standard headline last week. Oh, so
it's not enough to give away $700 billion of taxpayers' money, we've got to add sweeteners! Special-interest groups across the spectrum tacked wish-list items onto the bailout bill, which also passed the House and became law with George W. Bush's signature. Some $100 billion in business and upper-middle-class tax breaks were added, along with tax favors or direct subsidies for solar power, wool marketing, subway maintenance, Puerto Rican rum sales, "motorsports racing track" facilities, and investing in the District of Columbia (already among the most heavily subsidized place on Earth; Alaska, which consistently ranks first or second in federal spending per capita, may be the most subsidized -- scan down to "Alaska" in this study), tax breaks for farmers, eligibility of foreign banks for U.S. bailouts, tax favors for people who won money from the Exxon Valdez lawsuit, subsidies for "certain wooden arrows used by children" -- the list goes on. Scan the bill for the word "wool," for example. It's the noise of the lambs! What started as a $700 billion bailout could easily cost taxpayers $850 billion, and every penny of it borrowed from our children.

Three points need to be made about the bailout legislation. First, conservatives in the House torpedoed the initial bill, calling it too expensive at $700 billion, then voted for the second version, bloated to $850 billion. Now there's a profile in courage! Second, the bill was originally three pages -- and grew to 451 pages as enacted, as giveaway after giveaway was tacked on. The United States Constitution and all amendments is about 20 pages; it takes 451 pages to legislate a bank recovery payment? Super-long legislation is both inherently too complex and litigation-prone -- last year's Warner-Lieberman greenhouse gas regulation bill, which almost passed the Senate, was 491 pages -- and invites giveaways. In a brief, straightforward bill, a tacked-on special-interest favor stands out and looks embarrassing to the sponsor. In a gigantic laundry-list bill with hundreds of pages of special favors, none stand out. Everybody else's constituent is getting a handout, where's mine? Proposal: Congressional legislation should be limited to the word length of the United States Constitution. If Congress can't say something in fewer words than the Framers required to found the country, then Congress shouldn't say anything.

Third, why do members of the national legislature give away your money as fast as it can be borrowed? Because they want campaign donations. Polls show Americans don't like the idea of public funding for House and Senate elections, because it seems like a giveaway. But the public already funds congressional elections, just in an incredibly overpriced, inefficient way. Members of the House and Senate give away billions of dollars in subsidies and tax breaks to special-interest groups, in order to get back thousands of dollars in campaign donations. The $150 billion or so in sweetheart handouts in the bailout legislation will probably result in several million additional dollars given to House and Senate members as campaign donations. It would be far, far cheaper for taxpayers just to fund congressional campaigns! Suppose the public funded each House race at $1 million (435 races every second year) split between the parties, and each Senate race at $5 million split (roughly 34 races every second year), then banned campaign contributions. (Skip whether the Supreme Court would allow the latter, this is a thought experiment.) The cost would be about $600 million every second year, when there are national elections. That's peanuts compared to the amounts House and Senate incumbents give away to PAC-backed lobbies in order to inspire campaign donations. Federal financing of House and Senate races would save the public tens, if not hundreds, of billions of dollars. "
[ESPN, Greg Easterbrook, Oct, 7]

Old Burgers & New Debt

AIG gets more of your tax dollars. [The motley fool]

"AIG will get as much as $37.8 billion from the Treasury, on top of the $85 billion it was granted when it nearly croaked a few weeks ago. That's right, yet another move to keep the insurance behemoth from careening out of control, sending financial markets into more of an abyss than they're already in." (Morgan Housel, The Motley Fool.com)
Where the hell is the vote on this, or is this the 700 billion working through the system lining pockets.

Can You guess which burger is 10 years old and which one is fresh? [Best of Mother Earth]

McDonald's is always producing the cheapest, freshest, tastiest, deadliest meals one can buy for 99 cents plus tax. 1.25 if your at an airport.

Ron paul "You will guarantee a depression"

"It says that we are in a liquidity crisis, credit crunch. All we need is more credit. The federal reserve has already injected a trillion dollars in credit which has not seemed to help a whole lot. Injecting another 600 700 million dollars wont solve the problem....You will guarantee a depression"

Ron Paul



Strong word from one of the peoples representative

Dumbo's and Asses

Thomas Jefferson, declared, "If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.

This Bailout or RESCUE of the American economy is clearly an example of taxation without representation. It is just not morally wrong but it is goes against one of Americas’ most deeply held ideals. What are the people going to receiving in exchange for the 700 billion dollar tax leveled against the people? We are not receiving anything else more that what has already been budgeted for, though large corporations are receiving money in exchange for debt. The same companies that once back on their feet will profit off of the American people while the future generations of this country pay for the debt Wall Street accumulated. It is not a question if or how they accumulated the debt, it is merely a question of why? And the answer to that question is greed. It was not enough to make a good profit, companies wanted insane profits. One way of accomplishing that is to continually sale debt along with tangible assets for money. As companies continue to due this they are able to tell their investors that though they have sold assets they have also unloaded debt and convinced another person to pay for the debt along with the assets. That is alright due to the fact that I can insure this debt to make sure if it starts devaluing more I can write it off and get real money back from the insurance company. As this process continued the last 12 years in the economy insurance companies continued to take a loss until they stopped insuring wall street debt, and wall street decided to start hiding their debts within their overpaid for assets. The companies that were profitable when insurance was paying out claims were merely manipulating the system and got caught up in their own deception and are looking for a free pass from taking responsibility. The threat that there is no money is preposterous, has anyone looked at JP Morgan’s price lately its down only $0.28 cents from its 52 week high and up $20.48 from a 5 year low. Look it up here is the stock price. So it is clear that the money exists in the market it is only in the hands of a few and they won’t release it unless the American people buy 700 billion dollars in debt and wooden arrows. That is not capitalism that is a monopoly when one institution the Fed can control the market. No, the Fed is not a government institution. It is a private company made up of the biggest banks. Here is the address if you want to go see yourself:
33 Liberty Street
New York, NY 10045
United States
Founded in 1913
Phone:
212-720-5000
Fax:
212-720-7459
www.ny.frb.org
That’s ORG not GOV.

For the politicians’ to merely make this economic crisis, red and blue talking points is dumb and counterproductive. At least when it comes to identifying the problem that caused this crisis, fixing the identified problem and truly rescuing our economy. Now all of them are using this crisis for vote, either to say see I finally listened to what you had to say. See I stopped the bleeding and saved you from us. They are all responsible for the present state of the economy, Republicans and Democrats. Let us not forget at one time in the last decade our government had a 1.4 trillion dollar surplus. Now they say we lost 1 trillion in a day and it’s the fault of the politicians who voted against this ridiculous bill. It’s Dumbo and Ass politics that got us into this problem, and it is going to take common sense to get us out of this problem. It is apparent that they need to listen to the people instead of trying to line their pockets with the money of the people. Stop this Bailout, Stop this Politicking and Save the American People.

Strong fundementals from a nation of whiners?

John McCain NAILS IT !! Fundamentals of Economy STRONG !!


Phil Grahm - McCain's former economic adviser July 9, 2008

"You've heard of mental depression; this is a mental recession," he said, noting that growth has held up at about 1 percent despite all the publicity over losing jobs to India, China, illegal immigration, housing and credit problems and record oil prices. "We may have a recession; we haven't had one yet."

"We have sort of become a nation of whiners," he said. "You just hear this constant whining, complaining about a loss of competitiveness, America in decline" despite a major export boom that is the primary reason that growth continues in the economy, he said.

"We've never been more dominant; we've never had more natural advantages than we have today," he said. "We have benefited greatly" from the globalization of the economy in the last 30 years.

McCain Responds to Phil Gramm "Mental Recession" Comments July 10, 2008


McCain: "Fundamentals of Economy Are Strong" September 15, 2008 JUST DAYS BEFORE THE BAILOUT PROPOSAL


Why would McCain like to president....DId he just lie in a church, no shame, no shame.


Why isnt Obama using this stuff, its not like its made up. They are the words of the Republican Nominee for President of the United States.

Jason Coronel knew, how come Paulson or Bernake didn't

How could none of the economic genius who are selected or elected to help define the countries economic vision not see this coming. Jason Coronel could, and that was in 2002. This has happened before and almost the exact same way 20 years ago in Sweden. This is not just similar to what has occurred in our economy but the exact same in many instances. The The following is an excerpt of a thesis written by Jason Coronel about the collapse of the Swedish economy in the 1990's. page 10-11

"....The resulting deregulation in the domestic capital market would by the early 1990s result in disaster and plunge Sweden into one of the worst economic periods of its history.

From the mid ‘70s forward, Sweden embarked on a deregulation process that phased out most of its financial regulatory rules that had been in place since the decade after World War II. The reason for financial deregulation was due to the government’s continuously increasing budget deficits that required financing and the need to attract foreign private investment (Arter 1999; Bieler 2000). In 1985, the deregulation binge resulted in the removal of lending ceilings by banks (Bieler 2000). The resulting credit-led expansion boom caused by deregulation dramatically increased private sector borrowing and caused a speculative spree within the housing sector (Canova 1994; Moene and Wallerstein 1995). Real estate speculation led to inflated values for assets and property and increased domestic consumption. When the speculative boom ended in the early ‘90s, the massive decline in the value of property and assets triggered a sharp decline in private domestic consumption (Moene and Wallerstein 1995; Ramaswamy 1994). The resulting decline in aggregate demand in combination with a global economic contraction plunged Sweden into one of its worst economic downturns in history (Moene and Wallerstein 1995; Pontusson 1992). Unemployment from 1990 to 1993 was around 8 percent as Sweden suffered one of its worst economic periods since the Great Depression (Miles 1997). On top of the severe economic recession was a banking crisis in which the government was forced to save the banking industry from insolvency. The resulting demand for greater welfare provisions, in accordance with the government’s bailout of the banking sector created massive government deficits equaling to about 17 percent of GDP by 1994 (Miles 1997). The end result of domestic capital deregulation during this period was a catastrophe in two ways: capital deregulation was one of the main reasons for the calamitous early ‘90s recession and investment capital was wasted on unproductive property speculation and consumption (Hubers and Stephens 1998)."

The rest of his paper can be found at the [link].
Coronel, J. (2002). Foundations, decline and future prospects of the swedish
welfare model: from the 1950s to the 1990s and beyond. DePaul University.
10-11

We are getting only the shitty parts of socialism!

Sarah Palin, has no idea what she is talking about

Sarah Palin seems like she has no idea what she is talking about. Following the video are excerpts from the interview conducted by Katie Couric on September 24, 2008.




Katie Couric: But he(John McCain) still has a stake in the company so isn't that a conflict of interest?

Palin: Again, my understanding is that he(John McCain)recused himself from the dealings with Freddie and Fannie, any lobbying efforts on his part there. And I would hope that's the case because, as John McCain has been saying, and as I've on a much more local level been also rallying against is the undue influence of lobbyists in public policy decisions being made.
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Couric: Would you support a moratorium on foreclosures to help average Americans keep their homes?

Palin: That's something that John McCain and I have both been discussing - whether that ... is part of the solution or not. You know, it's going to be a multi-faceted solution that has to be found here.

Couric: So you haven't decided whether you'll support it or not?

Palin: I have not.

Couric: What are the pros and cons of it do you think?

Palin: Oh, well, some decisions that have been made poorly should not be rewarded, of course.
[What! you want to reward the banks but not help citizens that are paying for the bailout.]

Couric: By consumers, you're saying?

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Palin: Consumers - and those who were predator lenders also. That's, you know, that has to be considered also. But again, it's got to be a comprehensive, long-term solution found ... for this problem that America is facing today. As I say, we are getting into crisis mode here.

Couric: You've said, quote, "John McCain will reform the way Wall Street does business." Other than supporting stricter regulations of Fannie Mae and Freddie Mac two years ago, can you give us any more example of his leading the charge for more oversight?

Palin: I think that the example that you just cited, with his warnings two years ago about Fannie and Freddie - that, that's paramount. That's more than a heck of a lot of other senators and representatives did for us.

Couric: But he's been in Congress for 26 years. He's been chairman of the powerful Commerce Committee. And he has almost always sided with less regulation, not more.

Palin: He's also known as the maverick though, taking shots from his own party, and certainly taking shots from the other party. Trying to get people to understand what he's been talking about - the need to reform government.

Couric: But can you give me any other concrete examples? Because I know you've said Barack Obama is a lot of talk and no action. Can you give me any other examples in his 26 years of John McCain truly taking a stand on this?

Palin: I can give you examples of things that John McCain has done, that has shown his foresight, his pragmatism, and his leadership abilities. And that is what America needs today.

Couric: I'm just going to ask you one more time - not to belabor the point. Specific examples in his 26 years of pushing for more regulation.

Palin: I'll try to find you some and I'll bring them to you. LOL, this is the VP that McCain choose. If this is an example of his decision making ability, I want him no where near monetary decisions or the oval office.



QUIET, the white house has something to say.

David Letterman on McCain Suspending Campaign

David Letterman on McCain Suspending Campaign.
"This doesn't smell right, this is not the way a hero behaves."
"Are we suspending the campaign because of the economic crisis or because his poll numbers are starting to slip?"
David Letterman in referring to Sen. John McCain



The second half of the clip is the best part.

Notes of our leaders! well Republican ones.

Mike Huckabee "Bailing on our Principles" The following is an excerpt from Mike Huckabees blog entry titled "Bailing on our Principles" To read the rest of it just follow a link to his blog.

Frankly, I’m disappointed and disgusted with my own Republican party as I watch them attempt to strong-arm a bailout of some of America’s biggest corporations by asking the taxpayers to suck up the staggering results of the hubris, greed, and arrogance of those who sought to make a quick buck by throwing the dice. They lost, but want the rest of us to cover their bets so they won’t be effected in their lavish lifestyles as they figure out how to spend their tens of millions and in some cases, hundreds of millions in bonuses and compensation which was their reward for not only sinking their companies, but basically doing the same to the entire American economy.

It’s especially disconcerting to see the very people who pilloried me during the Presidential campaign for being a “populist” and not “understanding Wall Street” to now line up like thirsty dogs at the Washington, D. C. water dish, otherwise known as Congress, and plead for help. I thought these guys were the smartest people in America! I thought that taxpayers like you and I were similar to the people at the U. N. who have no translator speaking into their headset - that we just needed to trust those that I called the power bunch in the “Wall Street to Washington axis of power.”

The following is an interview of Ron Paul (R-TX)conducted by Luke Mullins(U.S. News & World Reports)

What's your take on this huge financial bailout?
"It's more of the same. More debt and more inflation and more pressure on the dollar. Ultimately, although the markets are responding very favorably at the moment, I think it is going to be devastating to the dollar and to our financial situation in this country."

But don't we need to get these toxic assets off banks' balance sheets?
"Sure, they need to be removed. Somebody needs to suffer the consequences [but] not the taxpayer. Everybody knows that they have to be removed. They are priced too high. The assets don't have real value—some have zero and some have 10 cents on the dollar.

The people who had been making profits for all these years and dealing in all of this debt creation and derivatives—that now is becoming unwound—are claiming that it would be so painful if somebody went bankrupt and therefore we have to put so much burden on the taxpayer and on the dollar because the alternative is worse. But quite frankly, if they destroy the dollar and the dollar system, then they have a much bigger problem that they are going to have to deal with and it would be the collapse of the whole international monetary system—which is conceivable."

So instead of having taxpayers buy the bad debt, the market should take care of it by itself?
"Sure, prices need to go down. Bad debt needs to be eliminated. The taxpayer ought to be protected. Taxes ought to be lowered...We are following the same routine that we did in the Depression, and that is artificially try to keep prices up. People were starving in the Depression and the only thing they did was try to keep wages artificially high and keep food prices high. We are doing the same thing now—we are trying to keep housing prices high. Low prices for houses mean poor people could buy a house. This is the most important part of a free market economy and that is free market pricing. Without free market pricing, the market can't work. And this is in a way a major effort to price fix."

So you think the government should not have bailed out any companies during this crisis?
"That would have been the best thing. It would have been painful, but housing prices would have come down sharper and faster, and it would have been over by now. But this whole idea of price fixing—that's what they are doing—has been trying to keep housing prices up and trying to stimulate home building. Well, if you have 100 percent more homes than the market really wants, you can't keep prices up and you can't stimulate home building. If the prices go down, then people will go out and buy homes again. So they should allow the liquidation of debt.

Before the Depression, [the government] generally allowed these kinds of problems to unwind. They were very severe. They would last six months or a year—a lot of liquidation of debt would be wiped off the books. And then it would go back to work again. What we've been doing now—especially since 1971—is preventing the real liquidation of the malinvestment and the excess of debt... If this process continues, we're going to own General Motors and Ford, then we will have to own the airlines. We are socializing our country without even a vote by the Congress. It's a horrible situation."

Will this bailout stabilize the crisis?
"I personally don't think so. It might be temporary, but no, there is much more involved. I mean, we are talking about trying to unwind trillions of dollars of derivatives . . . You have to get rid of all that stuff."

Will this bailout be the last?
"No, no. This won't be the last one. There will be something else later on. But that doesn't mean you might not have a few months of a reprieve. But it will continue."...