Where are we getting this money by the way?
Oh, yeah, that's right - the printing press.
God bless the USA. Man, we can get away with some pretty sick sh*t.
Soot & Ashes Favourite Blogs
PerpWalkWatch - # of Hours New AG Eric Holder Has Let Angelo Mozilo Run Free
Eric Holder and Barack Obama
Failure to
Arrest
Angelo Mozilo
2862 Hours
(countdown suspended 6/21/2009)
ERIC HOLDER - YOU ARE A COWARD
DO YOUR JOB
(UPDATE 6.4.09 - SEC CHARGES MOZILO WITH INSIDER TRADING. YET ERIC HOLDER STILL SITS ON HIS ASS AND DOES NOTHING)
Posts
Comments
33 comments:
Seeing Barney Franks' mug always gives me confidence for the future. CNN claims Obama will go immediately back on the campaign trail to sell the Democrat's (not his) bailout package. I suppose that's smarter than staying to Washington and doing something. Obama makes for a great press secretary, but I wonder who's really going to run his administration?
Talking head assholes aside, Obama does have to move quickly AND smartly.
A recent survey showed that all of the "shovel ready" projects submitted by states contained a disproportionate emphasis on "new" road construction. Mass transit development and repairing "existing" roads represented a tiny percentage of the "shovel ready" projects.
I think this is called sprawl. Our unsustainable sprawl economy-building and financing home construction, pizza shacks and strip malls-is a loser. That formula was the framework for the creation of HousingPanic.
I hope Obama reconsiders. Here's an idea: give the states GUIDELINES!
On the money side, everyone, and I mean EVERYONE, is flying blind here.
Inflation, deflation, stagflation, stagdeflation; WE are going to see it all.
Europe or America Keith? At some point-soon-it may get too expensive to travel from one place to the other. Unless you can afford it.
I just hope we find time to indict, arrest, try and convict Bush, Cheney, Paulson, Mozillo, Frank and tens of thousands of other hustlers on and off Wall St. and Main St. who created this epic, criminal Ponzi scheme.
Hey - by the way - why don't you have Barack Obama's name as one of the poll results for "worst democratic idiot of 2008." He'd get my vote. Since he's not there, I didn't vote for him - just like I didn't in the election. But, by the end of 2009, you are going to regret, heartily, your endorsement of him this year. Anyone who is already making a run at defeating W. Bush for most vacation days and is not even president yet is going to be a disaster with what we are facing.
Interesting bar plot showing recent unemployment numbers vs the depression. I agree with the author; it's probably a bit early to uncork the champagne on '09.
Unemployment: Depression vs Now
.
Keith,
In case you get homesick...
Police ScanAmerica
.
Obama should start by preventing the Chinese from destroying the American Textile Industry. I mean, my God, must the Chinese destroy every last sector of American manufacturing?
Obama should stop the bleeding in the manufacturing sector. Then he should start to re-build the manufacturing base.
Why should the American worker have to compete against workers who work for pennies per day with no benefits or hope for advancement.
Screw free trade--How about fair trade?
"Man, we can get away with some pretty sick sh*t."
The Fed has always gets away with its theft.
i'm unemployed and depressed.Took about 4 vicadins this morning.My wife hid all my guns but upped the life insurance.I keep looking at bridge abutments on my way home.
I hope the govt sends out another stimulous check so I can run down and see my buds at walmart.work is a bitch to find.I was even turned down at wendys for missing teeth.
I laugh at anyone who services the whims of the freaking nazis who are destroying this country. Shine barney frank's shoes you freaking dipsticks!
"...[Obama] is already making a run at defeating W. Bush for most vacation days and is not even president yet..."
Everything was all his fault six months ago; wasn't it?
Keith,
I think you are right on some things, but I think you are also wrong on others. Remember what happened in Japan after their economy crashed in the early 1990s. The Yen is actually stronger today than in 1990, when their economy tanked. Did Japan pour money into their economy just the US is doing today? Of course they did. Did it do any good, or did it create inflation? Of course not. Their banks kept paying off their debt and did not start lending until 2001.
Keep waiting for the USD crash suckers, it will never come. The US Banks will keep paying off their debts until this thing is done. Period.
Deflation is here and it is here to stay. Our economy will stink for years regardless of all the money printed and thrown into the economy.
Dny
FLASH!
http://biz.yahoo.com/ap/090102/eu_belarus_economy.html
Got Swiss Francs??
Guys and girls,
Obama should do NOTHING. Period. End of discussion. All this freaking mess was caused by the same crap you guys are proposing. Save this industry, then save that industry. All this does is prolongue the freaking pain. Let fail what is suppose to fail. That is what a free market is suppose to be. We are not Russia. That is the reason the US empire has lasted so long, FREE MARKETS.
When the STUPID US Government stops intervening, we'll get out of this mess. Companies, perhaps industries will fail, but the pain will be gone sooner.
We cannot get out of this mess by doing the same thing that got us into this mess. Spend, Spend, SPend does not work guys and girls. Obama should stop spending now and let things sort themselves out.
For a good lesson, look at Japan. Japan went into a recession on the early 1990s and did not get out of it until 2001. It spent every penny it could and went from being a creditor nation to one of the highest endebted nations in the world. Did it resolve the problem? No. The US is in the same dead end course. We are already in debt up to our eyeballs and people still want more. Stop the SPENDING NOW.
Dny
Besides illegal immigrants, who else will sign up to dig holes and build roads under Barry's "New Deal" jobs program?
My dad was involved with putting evacuees to work after Hurricane Katrina under New Orleans "work program". No one wanted these jobs. Instead, the evacuees lounged around in the shelter, waiting for the next round of debit cards to be handed out so they could buy useless crap at the local Walmart.
You can't take the fat, lazy and want something for nothing American of today and assume Barry's public works program will be a success, because it worked in the 1930's. We had a much different work ethic back then.
Personally, I think Barry's stimulus plan is stupid. More spending of money we don't have; More money thrown into a black hole; useless programs; a bigger, bloated, and inept government.
The U.S. needed Ron Paul at this juncture to get us back on track, not another big spender Keynesian that we have in Obama.
So sad.
wasn't emannuel in Kenya over the holidays?
Obama spent his holidays in Hawaii
Damage control?
Hmmmm...Though I fear the future I also welcome it.
I read about pending war, famine and pestililence and you know what? Needs to be done...Sadly most poor and weak will suffer but the American mindset is so weak right now that it's the only way for it to learn.
Am prepared will last at least 6 months to a year but after that? Fucked like everyone else...Luckily in times of the "Empire" collapsing security/armies are always fed...So lets see where this ends up.
As they say "Pain is the ultimate teacher."
"Guys and girls,Obama should do NOTHING. Period. End of discussion...."
I disagree. Obama should do something to PROTECT AMERICAN MANUFACTURING. The American worker should compete with the workers of other nations based on productivity and quality of workmanship. Instead, the American worker now competes based on which nation's workers are willing to work for the least amount of compensation.
The American Textile Industry is about to be taken out by the Chinese along with 500,000 American jobs.
What should Obama do? Just go down to the shoreline and wave at these American jobs as they sail off to China? That was McCain's strategy. I hope Obama doesn't follow suit or else we are all f***ked as few American jobs are incapable of being exported offshore.
Captain America,
You don't understand... The SPENDING mentality is what got us into this mess in the first place. And do you know where all this money is going to come from? The TAXPAYER pockets. Do you want to keep paying for initiatives that will not work??
People seem to think that FDR's initiatives worked.. Please go back in history. Unemployment was higher than 14%, reaching 25% until the 1940s. What makes anyone think that stupid protectionism ideas will somehow work now, if they have never worked.
Dny
America must be humbled. It can not return to greatness unless the spirit of the people who built it returns.
"...What makes anyone think that stupid protectionism ideas will somehow work now, if they have never worked?"
Sorry. But protectionalism does work if done correctly. The West with its high standard of living, and labor laws, can easily trade among themselves and can block out countries who seek to trade using what amounts to slave labor.
And spending is not the issue. Its the loss of American wealth. If Americans cut back to spending pennies per day, and live like Haitians, how will that make America great again?
Excellent point.
The show is now starting, Obama is on main center stage, time to act, what will he do? Nobody really knows - just listen to the talking puppets as they fill our heads with more, and more lies.
If Obama chooses the wrong path, he will only accelerate the problems we are now facing.
I've ordered several large bags of hot buttered popcorn, as I'm assured this show will be dragged out for a long, long, long time.
Anonymous said...
Guys and girls,
Obama should do NOTHING. Period. End of discussion. All this freaking mess was caused by the same crap you guys are proposing. Save this industry, then save that industry. All this does is prolongue the freaking pain. Let fail what is suppose to fail. That is what a free market is suppose to be. We are not Russia. That is the reason the US empire has lasted so long, FREE MARKETS.
When the STUPID US Government stops intervening, we'll get out of this mess. Companies, perhaps industries will fail, but the pain will be gone sooner.
We cannot get out of this mess by doing the same thing that got us into this mess. Spend, Spend, SPend does not work guys and girls. Obama should stop spending now and let things sort themselves out.
For a good lesson, look at Japan. Japan went into a recession on the early 1990s and did not get out of it until 2001. It spent every penny it could and went from being a creditor nation to one of the highest endebted nations in the world. Did it resolve the problem? No. The US is in the same dead end course. We are already in debt up to our eyeballs and people still want more. Stop the SPENDING NOW.
Dny
Cpt. America is right on.
A friend of mine, a construction supervisor of 30+ years, has now had to take a 60% pay-cut just to co-exist in the industry, primarily because the industry is now polluted with unskilled and unqualified workers, many of whom are willing to take a steep pay decrease.
However, let's put blame where blame is due - the unethical US business man/woman who is willing to sell-out his fellow American worker, just so that he/she can continue to live high off the hog.
However, this self-serving, self-preserving way of living is exactly why our economy will continue - provided Obama doesn't have the balls to do the right thing - get far worse then anything any of us could ever imagine.
Unfortunately, the two skills, manufacturing and the knowledge (IT) industry, are the very two skills that our brilliant CEO's were so anxious to outsource, the very two skills that are required for long-term growth and stability within a country.
Let's hope that Obama has the balls - if not, this country is not even worthy of the trash heap.
Cpt. America said...
"Guys and girls,Obama should do NOTHING. Period. End of discussion...."
I disagree. Obama should do something to PROTECT AMERICAN MANUFACTURING. The American worker should compete with the workers of other nations based on productivity and quality of workmanship. Instead, the American worker now competes based on which nation's workers are willing to work for the least amount of compensation.
The American Textile Industry is about to be taken out by the Chinese along with 500,000 American jobs.
What should Obama do? Just go down to the shoreline and wave at these American jobs as they sail off to China? That was McCain's strategy. I hope Obama doesn't follow suit or else we are all f***ked as few American jobs are incapable of being exported offshore.
Here is your $1 Trillion money bomb right here Keith...
"U.S. governors seek $1 trillion federal assistance"
http://tinyurl.com/73kcv7
It's comforting to know what
is really coming down the pipeline . . .
http://snipurl.com/9dwkk
They won't have that on CNN!
Guys, Guys,
Just stop and think for a minute. If your friend just took a 60% cut, than that is what needed to happen and it was due. If he wants to make equal pay, than he'll have to upgrade his skills and start a new career. Simple as that. Or don't you know that things always go back to equilibrium.
Bottom line is, in a free market, competition is fair game. It does not matter what the CEOs do. Wages will go to where they have to go whether our incompetent CEOs do something or not.
In other words, why should a company be forced to pay higher wages (COSTS) to produce the same thing (Not necesarily China)? Will this benefit the company? Will this benefit our economy? If you were running the company would you choose to pay higher wages in the US (just to help out your fellow brother), or would you outsource jobs that are loosing company revenues?
Companies should be left alone to be as competitive as they can. If they cannot be competitive by producing things in the US, than let them move those jobs overseas where they can produce them cheaper and at the same quality. Not all companies choose to move jobs to China or India, as quality is not the same. Those companies will stay and employ in the US.
If we continue this protectionist crap all our companies will go bankrupt and we'll be worst off.
The only intervention Obama should do is to increase the country's skills by implementing education programs and incentives. This way US workers become more relevant and competitive.
Dny
To add to K.W.'s Obama argument. Obama is going to get blamed no matter what he does. So stop the bulshit now buddy.
He will make the mistake of listening to idiots that propose more spending and we'll be on this mess for years as a result.
I bet you'll be the first in line to blame him anyway. Even if he does spend on your bullshit proposals.
Dny
"... If he wants to make equal pay, than he'll have to upgrade his skills and start a new career."
Oh yeah. Its so easy to put one's work life on hold in middle age while one learns new skills. People don't eat in the long run, buddy. They eat every day.
"Companies should be left alone to be as competitive as they can. If they cannot be competitive by producing things in the US, than let them move those jobs overseas where they can produce them cheaper and at the same quality."
Great argument for repealing laws against child labor, laws limiting work hours, laws providing for holidays, laws providing for minimum wage, laws for work place safety, laws providing for compensation for work injuries, laws banning the dumping of manufacturing waste into the public lakes and rivers, laws on consumer safety, etc., etc. All of these laws are anti-competitive, and nations which have such laws are at a competitive disadvanatge. Why don't we follow your argument to its logical conclusion and repeal all of these laws? Imagine the competitive advantage our nation could gain.
You think that maximizing corporate profits is the sole aim of life. I like to think that the aim of life should be--God forbid!-- to maximize the quality of life. I guess under your views, it is better that the great mass of humanity have their faces pressed firmly against the grindstone day after day so a small few can spend their days at holiday pontificating on the benefits of hard work.
But how am I to convince someone like you, one who knows the price of everything and the value of nothing.
Hey Keith, how about an open S&A thread on crumbling infrastructure like was on HP?
Cleveland police radio system breaks down again (italics mine)
http://tinyurl.com/7btfe4
Ted Strickland among five governors asking U.S. for $1 trillion in help
http://tinyurl.com/84proo
Captain America,
In no way am I saying that a company should do no good. I have myself taken (and continue to take) advantage of many of my company's perks. There are not too many perks left, but there are still some.
My point is that a company that is profitable by producing in the United States (and be competitive), can still provide jobs in the US and perhaps provide perks for their employees.
If a company is loosing money, however, how does anyone expect the company to continue loosing money for the good of US citizens?? This does not make sense. It's probably better for the company to move operations overseas (if it can stay profitable and stay in business), and perhaps save a few jobs in the US in the process. The end result is still saving jobs in the US.
If the company goes bankrupt, there are no more jobs in the US or overseas. All jobs are lost. This is my point.
The world is not only composed of the US, and most of us Americans understand the pain people go through as a result of globalization, but the truth is that companies will go where they can produce cheaper. Most Americans buy Chinese made goods... Do you know why?? Because they are cheaper. We are a mirror image of those companies that move operations overseas.
Dny
Is it true the combined European bailout, ie. printing press overrun, has been three times that of the US?
Really like what Lady Di and Cpt America wrote.
It's true - where is the work ethic today? And the last sentence by Cpt says it all.
"That is the reason the US empire has lasted so long, FREE MARKETS."
LOL.
Man, this blog is funny.
Saving the $20 dollar an hour jobs is fine and dandy. But really, what will it matter if bread turns out to be $50 a loaf?
Post a Comment