The Most Important Ruling

I understand that the judge in the Chrysler bankruptcy case is going to rule today on whether or not the sale to Fiat can go through. While getting little press, I feel this decision can potentially impact the entire framework of the American system. If he decides to rule in favor of the deal, we are in for a prolonged recession (if we weren't already).

Here is what the deal is: the bondholders, the ones Obama basically called greedy, are fighting the government's arrangement. They feel that their interests were not protected. They were offered $.30 on the dollar while the Union's fund got $.60-$.70 on the dollar. This is absolutely unacceptable to the bondholders and against the basic tenets of our laws.

The basic issue here is secured versus unsecured debt. In this case, the bonds were secured by the assets of Chrysler. When a company goes under, the secured debt holders are first in line. The Union's debt was unsecured which means they are entitled to be paid after the secured debt holders get their money. This is how contract law works.

If the judge goes ahead and approves the deal the government set forth, we will see private equity for investments disappear overnight. One of the successes of our system is that people can invest in worthwhile ventures while receiving some assurance their money is safe. Of course, there is still the chance of a loss, yet it is reduced when the debt is secured with assets.

Obama decided that the 'speculators' in this situation were being too greedy. After all, they were receiving a profit. Well, under a capitalistic system, companies are entitled to maximize the return for their shareholders. That is what these big, bad hedge funds did. Naturally, it is easy to demonize them.

Before jumping on the bandwagon, remember that these funds, Oppenheimer in particular, invest 401K and pension fund money. Their jobs is to make as much for their retirement accounts as they can. The entering into the deal with Chrysler was with the understanding that the debt was backed by assets. That is the rule of law and I hope the judge sees it that way.

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Shoot The Dumbass

Did you catch the episode over New York City today? It seems that someone "genius" in the White House authorized a flyover of one of the President's planes for a photo op. In short, they ought to take the stupid son-of-a-bitch out back and shoot him or her. That person is simply too stupid to live.

Here is the story.

This just shows the lack of intelligence and compassion of the Obama administration. I will not buy the argument that they are sorry and it was an authorized flight. It was pure stupidity.

One who is thoroughly pissed is Mayor Bloomberg. And he should be. Of all the stupidity, this takes the cake. Anyone who was above the age of 12 during 2001 when the Twin Towers were hit know the devastation to families that occurred. To think this would not raise many of the same emotions is just asinine. You want a photo op, do it over South Dakota. To choose the location of the worst terror attack on American land since Pearl Harbor is baffling.

Well, I guess this is change you can believe in. Stupidity at its finest. I really hope Mayor Bloomberg calls out the idiots in the Adminstration who are responsible for this.

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Stress Test Revealed

Does anyone out there really believe that the government is going to be truthful when the results of the stress tests are in? I certainly do not. This is nothing more than a mirage designed to appease the stock market. Those in power know that the media focuses upon large shifts in the market. While the politicians will try to separate Wall Street from Main Street when it serves them, a rising stock market protects all of them.

Many fail to understand the market is not the economy. When they see the headlines of the market crashing, everyone is aware of how hard things are. Those in power have to answer for the results. This is something they want to avoid.

At this moment, I believe Bernake and Geithner both know that the majority of the banks are insolvent. Simply, that means they need more money, a lot more. They are broke. The stress tests were sold as a way to 'grade' the banks. This is not true. They were put together to give the market confidence in these institutions. Sadly, this is another house of cards being erected.

The banks just received their first wave of bad news. Residential real estate is only 1/3 of the equation. We are already seeing the bubble in commercial real estate breaking. And, credit card defaults are on the rise. To quote the famous song: "We have only just begun".

The economy is in shambles. People are looking for the mustard seeds and green spouts. Do not believe any of them. This market is going to crash in the next few months. We got a boost because many of the companies "exceeded expectations" on their earnings. Big deal. Those expectations were so low that it is almost impossible not to meet them. Seriously, can anyone say that a Fortune 500 company's revenues being off 58% is good news? No. It is an abysmal time to be in business right now.

We invested trillions to prevent a credit freeze. Unfortunately, money aside, that is exactly what we have. Nobody is lending. The banks are holding onto the TARP money like a child holds a toy on Christmas morning. There is nothing being lend anywhere. And, if some of the ideas the government is proposing go through, the banks will tighten up even further. Credit card limits are already being reduced substantially.

I believe that on May 4th, the Feds will tell us that all the banks passed with a disclaimer that a few need to raise additional capital. The market will probably jump up another 150-200 points on this news. I, for one, will not buy a word of it. Eventually, the market corrects its misconceptions. In three months, these same institutions will have to report again. I do not believe they will be able to pull the same voodoo accounting they did this time. The proof will eventually come out just like it did last fall. I am here telling you the game is already up. The average person is just not in on it.

I would make my future plans accordingly.

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Do Not Believe The Hype

Everything seems rosy with the banks. Everyday we see one report earnings and the stock prices go up regardless of what the numbers look like. First, we saw a government backed guarantee for these institutions with the TARP money. Then came the "cooking of the books" through the change in the mark-to-market regulations. This allowed the banks to alter how they wrote down the toxic debt they are carrying.

Well, if you have any sense you will see through this fluff. Mark my words: the banks will come crashing down again. They will sustain loses beyond comprehension. The government's "stress test", which I am sure all will pass admirably, will show the banks to be solvent under any conditions. Reality, sadly, will differ. We will see the banks suffer under an mountain of debt that comes crashing down. Defaults are going through the roof.

We are starting to see the first indication of this. Today, Capital One, one of the largest credit card issuer reported their 1st quarter earnings. Like many other banks, the numbers were not pretty. However, this is one that people should take note of. Capital One is a consumer credit lender. They are not into the mortgages and commercial real estate. Interest on credit cards are their game.

As you would imagine, they have a bit of exposure if people start to default at a higher rate (which they are). If you will notice, Capital One said losses will be higher than the $8.6 billion previously anticipated. They added almost $125 million to cover that this year.

Here is the problem: unemployment is rising. People in the market like to claim it is a lagging indicator of the economy. Under normal circumstances, that might be true. Yet, in this debacle it tells another story. We are most likely going to see close to 2 million more people lose their jobs in the next 6-9 months. Those people are going to encounter financial uncertainty like never before. This will start the onslaught of defaults.

The last time we saw a major recession was 1982. At that time, personal credit was restricted to a mortgage and, perhaps, a car loan. People simply did not have large credit card balances. That is not the case today. We presently have roughly $1.2 trillion in credit card debt out there. Keep in mind this is unsecured with no collateral backing it. The banks are totally exposed here.

So what is going to happen. I believe this default rate will jump to around 15% if we see unemployment move to the 10.5% rate. This will put the underemployment number closer to 20% which means 1 in 5 will be earning either none or only a portion of the money needed to survive. That will lead to a huge increase in the default rate.

What does this all mean? With $1.2 trillion sitting out there, a 15% default rate means $180 billion goes unpaid. That is a lot for the banks to absorb. In this era where the government issues $1 trillion stimulus plans, it is easy to lose site of how much money that really is. To give you some contrast, the entire infomercial industry generates $150 billion a year. The loses they will sustain are on top of all the other stuff presently affecting them.

The bottom line is to not believe the propaganda the Feds are delivering. There is a rough road ahead for all the banks. Capital One is a large creditor, but not the biggest. Citigroup and Bank of America also have billions of dollars worth of exposure. How much more do you think their balance sheets can take?

Things are grim. Consider that the next time you see some talking head on television spouting how the seeds of recovery are at hand. Things are going to get worse before they get better. Invest accordingly.

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Strength Through Weakness?

Have you followed the situation off the coast of Somalia with the pirates? To me, this is an abysmal situation. How the United States government is acting tells me we are a much weakened state since the election of the Messiah, Barack Obama. Each day, he proves himself to be a weakling just like Jimmy Carter. That is what happens when you send a boy to do a man's job.

According to published reports, there was another vessel seized by pirates. An American tug boat with 16 on board was hijacked in the Gulf of Aden (read article here). This is on top of the struggle with the captain being detained for the better part of a week. And, what is being done about it? Well, the Obama administration is pondering the situation.

To add fuel to the mix, North Korea launched a rocket they claim has the ability to reach Hawaii. Allowing these nuts this technology is not making the United States safer. Of course Obama has done nothing but defer our safety to the United Nations which has done nothing. This is getting ridiculous.

Joe Biden was right when he said the world would test Barack Obama in the first 6 months of his administration. That is because those who pose a danger to the United States knew Obama was a wimp. He shies away from tough decisions. His history is to vote 'present' (a vote in the Senate which says I am here but I am too wimpy to take a position here). Well Mr. President, you cannot take that position when you occupy the Oval Office. So get out from under your desk and be a man. If you cannot do that, defer to Michelle; maybe she has the testicles in the family.

Those who regularly read this blog know I was not a big fan of George W. Bush. I think his Presidency was a disaster overall. However, one thing I give the guy credit for is that he understood his responsibility to protect America. And, he did that. His tactics might be questionable and are worth looking into. Yet, he did a decent job protecting us from outside attack.

This administration is showing itself to be weak. I know the comments I will get from my moronic liberal readers about diplomacy. Here this you fruit loops: you cannot negotiate with someone who is completely insane. If a person is willing to die for their cause (beliefs) there is only one option: kill that person. Those who are willing to strap a bomb to their back and walk into a shopping mall deserve a bullet. Plain and simple. These pirates are nothing more than terrorists on the high seas. For their actions, they deserve to bear the full weight of our military.

Yet Obama sits back while another vessel is taken. Mark my words, the Obama administration will change the world. However, not in the way he promised. His cutting of defense spending while rogue nations like North Korea and Iran are getting more technologically aggressive shows how little he cares about the country. Remember, Obama is not a stupid person. He gets it. He just doesn't care. His goal is to transform this nation into a obedient participant in the New World Order. Socialism on the grandest of scales. Everything he has done since he took office is in line with this idea. Being a weakling in the face of challenges plays right into that model.

Well, at least Jimmy Carter is starting to feel better. His Presidency is quickly going to move up from the bottom of worst administrations in the last 100 years. Now, if he can just surpass that crook Nixon...

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New World Order

Here is a video that spells out an argument that there is a conspiracy taking place. Recent events seem to support that this movement exists. What do you think?




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Governments Are Going Broke

The news of California's economic demise is well documented. Now, we are seeing that many other governmental agencies are facing similar circumstances. The days of reckless overspending are coming back to haunt these local and state governments. And, it serves them right.

Today, the mayor of New York announced that the city needed to undergo massive layoffs to prevent going bankrupt. Of course, it should come as no surprise that unions are at the center of the issue. New York will have to lay off as many as 7,000 employees unless concessions in benefits are made. This is according to an article run here.

How is this any different then the situation confronting General Motors? Management made poor decisions for decades spending on ideas that missed what the market needed while the unions presses (and received) wonderful contracts which destroyed the company. We see a similar story being run in government. Reckless politicians spent money without regard of how it would be paid back while conceding to the unions. Now, GM and many governments are facing bankruptcy.

Personally, I am glad to see so much trouble across the country. Government is addicted to tax revenue. Politicians spend without regard to the consequences of what they do. Campaigns are full of promises of "handouts" without any thought to the future. Today, the future is here.

Of course, areas like New York and California are going to solve this problem by raising taxes. We already saw some of the proposals the Governor of New York offered. If it moves, he wants to tax it. Typical government mindset. They screw the budget up and feel entitled to have the people give more. This is absolute bull crap. The time is near that the politicians are held accountable for their choices. Perhaps we could have them personally guarantee all their decisions. You put the government in debt, we, the people are entitled to all your money. That is a tidy sum with some of these politicians.

I am predicting there will be a tax revolt in the next few years. The way these idiots in government are spending money, those who are in a position of high net worth will not like giving more to the corrupt politicians. If the top 3% decided to withhold their tax payments, we would see the government stopped on a dime. This is what America needs. Let the politicians figure out how to keep their campaign promises without any tax dollars. If they want it, let them fund it.

The revolution is nearing. We are seeing the signs of it all over the country. People are angry. These politicians think it is business as usual. They better wake up soon.

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The Government Mess

People who are advocates of what is transpiring now are going to be really disappointed. When they realize how misled they really were, all hell is going to break loose. Obama (and others) stand up each day professing the virtues of government intervention. Sadly, this is a path to failure. Everywhere we look, government fails. Yet some still hold the notion that it is going to change.

Is there anyone with any common sense who believe the rhetoric we are served? Many of the programs instilled during the last great "economic crisis (the Great Depression) are now coming back to haunt us. Take Social Security as an example. It is completely broke. The CBO is now estimating that there is only a $3 billion surplus left in that program. This is a radical difference from the $80+ billion estimated a year ago. (Read article here)

Once again the political establishment screwed things up. For decades, the greedy politicians raided this program to fund their out of control spending. They took the dollars set aside for our elderly and use it for their own selfish ends. Now, we are at the point that this Ponzi scheme is blowing up. There is no more money to fund it.

The article makes a valid point about the changing in times since FDR created this program. With only a 3 to 1 worker to retiree ratio, there is not enough money coming in. It is that simple. Bernie Madoff understood this the last few years. Guaranteed returns become impossible to meet after enough time when you consistently have to raise money. This is what Social Security is now facing.

Our government is worthless. The people in it are not only inept, but mostly corrupt. Each of them deserves a cell next to good Ole Bernie. He screwed many out of their futures and the U.S. Government is doing the same thing. Everyone over the age of 50 is going to quickly realize they were lied to by all those talking heads in Washington. Right now, President Obama is the head liar in charge. Remember this article the next time you see him promising how government is going to fix the problem.

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15.6% Unemployment?

What would happen if you woke up tomorrow and read that unemployment soared to 15.6%? How do you think the stock market would react to that? I would surmise that we would have a total collapse.

For years, I mentioned how we cannot believe any of the statistics coming from the government. I always pointed to the inflation stats as proof: the government only charts "core" inflation which excludes food or energy prices. How can that be? Aren't these the two things that every family needs. The run up in oil prices last summer showed how families are affected even when "inflation" is contained.

Now, the vital statistic is the unemployment figure. This is the number believed to reflect the state of the economy. With last weeks announcement of March job loses, we are not at 8.5% unemployment. Or are we? Remember, we cannot believe the government's statistics.

There is another statistic which presently sits at a much higher number: 15.6%. It is the underemployment figure. The national unemployment rates only account for those who are filing or receiving unemployment benefits. Part time workers are excluded from those figures. So too are those who dont fit the criteria to file for unemployment.

Here is an article which spells out the true situation.

As you can see, there are a lot more people who are out of work than reported by the government. This articles explains how some of those in the 15.6% category are underemployed by working part time. Yet, there are also those out of work who do not receive benefits. How many are these? Do they add 1% to the unemployment figure? 2%? 4%? We do not know.

What we do know is there are a lot more people out of work than reported by the government. One sector rarely mentioned is the small business owner who closes up shop. This person is usually ineligible for unemployment compensation. Therefore, every small shop that closed up in the last year most likely put someone out of work. In my town, there are dozens of places which I know about that are no longer there. Where did all these people go? Some might have found other jobs. However, my guess is that most did not.

The point that I am making is that the unemployment situation is much worse than the government is letting on. True unemployment is already hovering around 10% (perhaps greater). When coupled with those who took a cut in hours thus becoming part time, we see that number jump to 15.6%. This is the number that the government ought to track. Yet those in charge do not want it out how bad things really are.

Do not believe the government. Those who are in charge are corrupt and will lie to protect their interests. The fact that the employment situation is twice as bad as they let on is an indication that they care little for the American people. Someday people might realize the government is their enemy.

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Who The Hell Does Obama Work For?

Obama is getting to the point where he ought to be tried and hung for treason. (Screw all you people who want to turn that into a racial statement-it isnt). In only a few short months, Obama not only has turned much of our financial system into a quasi-national organizations, now he is turning our independence over to the international community. For this, he ought to be tried and convicted as a traitor to the United States.

Of course, Obama is correct when he claims that he didnt start this policy. Rather, he is only carrying forward the policies under George W. Bush. He is correct. We outlined some time ago how Bush turned too much control over to the foreign leaders at the last G20 meeting. Try and hang him along with Obama.

Here is a report from Dick Morris, architect of the Clinton Administration detailing what Obama has done.



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Oops: Sorry About That Camapign Pledge

The United States is quickly learning what a liar Barack Hussein Obama really is. If there is anyone who still believes a word that comes out of this man's mouth, you are a total idiot. Ron White likes to say "you cant fix stupid". Well, that certainly is true and sadly, 50% of the United States is totally ignorant.

Here is Obama list of credentials as a professional liar. First, he is a politician. Therefore, the truth is not in the equation. Secondly, he is from the Chicago political scene; the most corrupt in the country. Finally, he is already going back on everything he said.

Remember all that campaign bull crap about only raising taxes on people making over $250,000 a year. Well, yesterday saw that myth dispelled. Obama hit his first target with a tax increase and as you will see, it affects the poor more then the wealthy.

According to this AP article, a new cigarette tax took place yesterday. It raises the tax on a pack of cigarettes 62 cents. This is up from the 39 cents previously charged. Thus, a carton of cigarettes just went up by $6.20. But feel comfort in knowing this went to pay for Obama health initiatives.

While I am no defender of smokers, this tax hits home with those Obama professes to protect. As the article shows, the lower income brackets have a higher percentage of smokers. It starts at 34% for those earning less than $12,000 per year. Now, do you think these people can realistically afford as well as those making greater than $100,000? Of course not. Yet, Obama promised no tax increases on these people.

Of course, this is the first of many to come. Pay attention to that cap and trade crap that Obama is professing we need to prevent man-made global warming. This will raise utility bills by 6% while increasing a gallon of gas by 13 cents. Again, who do you think these taxes hurt the most. Naturally the lower income brackets suffer the greatest brunt of it. They are already spending 100% of what they earn.

Obama is quickly showing himself to be the grand liar. Nothing out of his mouth can be believed. Trust me, the cigarette tax is not the last campaign promise he will break. In the end, he will screw the same people he vowed to help. Typical politician.

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Obama and Notre Dame

There is now some controversy over Obama making a visit to Notre Dame. As everyone is aware, Obama has some views that shake the foundation of the Church. His reversal of the stem cell research strikes at the core of this faith as does Obama's support of abortion. Obviously, he is one who doesn't agree with the beliefs of the Catholic Church.

That being said, he is still the sitting President. There is a tradition that the Presidents are invited to speak at Notre Dame. It is something that is now being carried forward by the institution even though Obama has views in opposition to them. They are simply adhering to an established tradition.

Yet some seem to have their panties in a wringer over it. I can understand being opposed to someone who is in direct opposition to your deeply held views. It is your right to voice that opinion. However, get over the fact that he is speaking at Notre Dame. His being there is not a sign that the Church is condoning his beliefs. Nor are they abandoning theirs. Catholicism will remain the same whether Obama is there or not.

I only hope those who are inside the hall there show the President the proper respect. You might not like/respect Obama, but do respect the office. Give him a chance to make his speech uninterrupted. If people want to protest, let them do it outside. That is the proper forum for that.

Sometimes we forget that the Office does deserve out esteem. Even if Obama is the worst President in the history of the country, he is one of only a few men ever to hold that office. And, it is the highest office we have in our land. For that, it deserves our respect even if the man doesnt. Hoping Notre Dame is listening.

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Death Threats

I thought the government was designed to protect the people. Well, welcome to life in this era. This is another part of the original thoughts that went by the wayside. Now, the government, specifically Congress, are putting people in harm's way. It is sad when private citizens are placed at peril by the Feds.

I am obviously referring to the AIG debacle. This story gets crazier by the day. We come to find out that many of those who received bonuses got death threats. To me, this is absurd. It will be interesting to see if the government atones for their screwups by prosecuting these people.

First, it is crucial to realize that those who received the bonuses are law abiding citizens. They had signed contracts which stipulated payments for their services rendered. They were the ones who were looked to in an effort to try to salvage what they could of AIG.

Secondly, they were not the people who caused the collapse. The ones responsible for that mess left over a year ago. People are taking it out on the wrong people.

Then Congress comes up with the idea to tax these people at 90% in an effort to get the money back. This is the equivalent to modern day piracy. All these members of Congress who signed on to this ridiculous idea ought to be tried and convicted. Their actions are outrageous.

Of course, Congress claims they wanted to get the money back for the taxpayers, like it is their money. What a farce. The politicians put people lives at risk for political gain. And have you heard even one apology. Nancy Pelosi ought to call each AIG bonus recipient and personally ask their forgiveness for being such a stupid ass. So should Chuck Shumer. Barney Frank. And the ever corrupt Chris Dodd. These people should be ashamed of their behavior.

Congress is showing how much they can screw things up when the government is involved. There is nothing they touch which they cannot turn into total crap. Lovers of big government show how truly ignorant they really are. Government excels at corruption and inefficiency. This is what they do best.

When private citizens are receiving death as a result of the actions of people in Congress, something needs to be done. Bet the ranch the FBI would be investing if one of the members of Congress received a death threat. Of course, to demand equal justice is absurd. The powerful only protect themselves.

Maybe people will wake up to the fact that these people in Washington need to be thrown out of office. The revolution is nearing.

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The Government Running A Business

What is the business that the government operates which is a total mess? While you can point to Amtrak, I am referring to the United States Post Office. Many will claim this entity is separate from the Federal Government. Do not buy it. This is as government as it gets.

Did you notice the head of the Post Office was in front of Congress begging for money? It seems this entity, which has a monopoly on private letters, is running out of money. Without help from Congress they will have to stop paying some of their bills. Well, maybe we should let the Post Office fail?

Here is the article spelling out the details.

Of course, this is another entity which is in trouble with a unionized workforce. The Postal Inspectors Union is being offered early retirement. My question is how about layoffs? Oh, that cannot be done when there is a union involved. Therefore, this entity will not be profitable since it cannot reduce it's labor expense. Once again the unions strike.

We are seeing the spreading of this mentality with the Obama administration. Everyone will be on Capitol Hill asking for money. The ones leading the charge are the unionized workforces trying to get more money for inferior work. Actually, the postal workers are one of the few who truly earn their money. Yet, we have the teacher unions screwing up our schools while passing a bunch of morons. The UAW and the Teamsters do even warrant a rant. Their influence is highly noted in companies such as GM.

When will America wake up. Obama is taking this country to a point where it might not recover. To be honest, that doesn't really bother me. We might need to blow this entire thing up and start anew. The average person is so clueless it simply astounds me. Well, they will be the ones slaughtered like sheep.

Let the revolution begin.

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The AIG Hoopla

This is what happens when you let government get involved with anything. They mess it up. People end up playing politics with people's lives. The truth is that government is the most corrupt, inefficient, and unethical organization there is, accusations that were levied against AIG.

Here are the facts of the matter. It is absurd for the politicians to scream over $140 million in bonuses when they just passed a pork-laden spending bill in the amount of $410 billion. Anyone on Capitol Hill who opens their mouth about this ought to be slapped. After all, it was Chuck Schumer, Senator from New York, who stated during the hearing for the spending bill that the American people do not care about $200 million.

Another thing: those receiving the bonuses did not create the financial crisis AIG finds itself in. Those parties are long gone. The ones who are there now were the ones put in charge of reversing the trend. They legally earned this money and it is immoral, unethical, and unconstitutional for Congress to take it back.

Finally, the argument that quality people will not leave the financial institutions is bogus. These people are talented. They will find employment elsewhere. There are plenty of companies who are willing to take them on at salaries well above the cap that the government placed upon the Tarp receiving companies. Of course, this will further weaken the institutions the government is professing to want to help. This will lead to the nationalization of these outfits. Do you see how the scam works now?

In case you still have an issue with this AIG deal, here is a copy of a resignation letter that appeared in the NY Times.

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Move To State Run Nation

Did you catch the latest proposal out of Obama? He has asked Congress for the authority to have the Treasury take control of any non bank financial company it deems a risk to the broader economy. Presently, this power is granted only over the banks. (Read article here).

They like to call Obama a socialist. It is becoming apparent that he is part that. This move shows how he is turning this country into a fascist state. The government is going to assume all control over every aspect of people's lives. He is quickly moving us on this course.

Obama is all about power. He believes power should reside within the hands of the government. This is 180 degrees opposite of the notion upon which this country was founded upon. Individual freedoms and liberties are going to vanish.

We are seeing a remaking of the 1920s and 1930s when Hitler assumed control. He used the same method of putting all the power in the hands of the Nazis. His agenda proceeded without any negotiation from the opposing viewepoints. We are seeing this played out again. It will be interesting to see how aggressively they go after the media to take that over.

The stock market was right to hate this guy. His first 100 days are a train wreck. He is undoing 225+ years of history in a matter of months. All this is his approach to giving more power to the government. We will see less control over our lives in the future. It is time for the seeds of the revolution to get going.

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The Endless Pit

Remember when George Bush went against Congress and gave the auto companies money despite the fact that support was lacking. Does it come as any surprise that we are now facing the situation where they need more? This is rapidly becoming an endless pit for us to throw money down.

Initially the companies received $17 billion. Now, they are asking for another $20 billion although it is believed this number will be a lot higher. Here is an article which details the events going on there.

This is ridiculous. The idea of bailing out these companies is a matter of false pride and cowering to the unions. This is not in the best interest of America. Failing is what is needed. To sustain a losing idea is just pissing money away.

Here is the bottom line: nobody wants the cars that these companies are making. They seem to be pushing their agenda based upon electric cars. Guess what. Sales of hybrids are at a non existent level. Yet the government wants to keep pushing this agenda. Once again the government proves how stupid they really are.

There ought to be an immediate stop to any assistance for the automobile manufacturers. If they cannot make it on their own, let them declare bankruptcy and work it out there. That is why the bankruptcy court was created. Reorganization is what is needed.

The argument that we need these companies is a farce. America would survive if we did not have General Motors. Truthfully, there would still be cars made in the United States. Instead of them being built in Detroit, we would see them in plants located in the South. Nevertheless, this is not part of the liberal, pro-union agenda.

Once again, we see the leadership not doing what is best for America. They have their own agenda.

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AIG Bonuses

The Imperial Federal government decided that the people who received bonuses at AIG ought to be taxed at a 90% tax rate. This is nothing more than an outrage. These people did nothing illegal yet are being investigated by the Congress like they were Al Capone. It is truly awful that we have come to this.

Here is the simple fact. A bunch of moronic politicians who are as corrupt as they are stupid are imposing their will. Of course, they are claiming this is to protect the taxpayers money. Why now? They did not seem to care when they were spending $30 million on the study of rats in San Francisco (or whatever they wasted money on).

So, Congress feels that the law abiding citizens who received bonuses from AIG ought to give the money back. It is outrageous that people take money from a company when it is going under. If that is the criteria, maybe Congress should give the money back also. After all, it is taxpayer money.

Here is a list of the top 12 people in Congress who received money from AIG in 2008.

1. Sen. Chris Dodd, D-Conn., $103,100
2. Sen. Barack Obama, D-Ill., $101,332
3. Sen. John McCain, R-Ariz., $59,499
4. Sen. Hillary Clinton, D-N.Y., $35,965
5. Sen. Max Baucus, D-Mont., $24,750
6. Former Gov. Mitt Romney, (R) Pres $20,850
7. Sen. Joe Biden, D-Del., $19,975
8. Rep. John Larson, D-Conn, $19,750
9. Sen. John Sununu, R-N.H., $18,500
10. Former Mayor Rudolph Giuliani (R) Pres $13,200
11. Rep. Paul Kanjorski, D-Pa., $12,000
12. Sen. Dick Durbin, D-Ill., $11,000

I am sure you will recognize some of the names on there. Funny, now they are the ones most outraged by the bonuses. Hypocritical?

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Abe Says:

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The Hoopla over AIG

These days, we do not have to look too far to see hypocrisy. It is plastered all over the news. Each time we see a member of Congress open his or her mouth, it is being thrust upon us like a dagger. I am witnessing a lot of "do as I say while ignoring what I do".

Everyone seems outraged over the bonuses that AIG paid after receiving billions from the government. Now, the politicians are grandstanding about how taxpayer money is being wasted. Hello. Didn't we just have Congress pass and the President sign a bill which had over 8,000 pieces of pork in it? These people are as hypocritical as they come.

The fact is that AIG is contractually obligated to pay these people. That is a fundamental tenet of the private sector; the contract. When two parties agree to something in writing, that is known as a legally binding document. Now, the Feds, in their infinite wisdom want to take the money back. Once again, the corrupt are exercising their abuse of power.

We have Barney Frank blowing (pun intended) hot air about all the money going to these corrupt executives. How about we look into Frank blocking reforms into Freddie and Frannie long before they went broke? Then we have Christopher Dodd double talking out his mouth. Of course, he is the one who gets favorable rates without his knowledge. Yeah, right. And lets us not forget Timothy Geitner, the man who couldnt figure out his own taxes. Now, he is up in arms over AIG's behavior.

This is what happens when government gets involved; everything gets screwed up. The fact that 535 politicians who seem to major in stupidity, corruption, and lying are meddling tells us how dire the situation has become. Government is an entity that will fail each time. Presently, we are moving in the direction where we need to overthrow it. Those who are in power are out of control. The time is nearing.

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The Blame Game

This is a long time part of American politics (politics in general). It is interesting to note that the world is facing the largest economic crisis in a couple of generations yet nobody is responsible. Instead, they are all blaming someone else for what occurred.

Let's review. George Bush was President with Dick Cheney serving as his VP. There was Alan Greenspan as head of the Fed before being replaced by Ben Bernanke. Christopher Dodd is the head of the Senate Finance committee. And Barney Frank was the one responsible for overseeing Frannie and Freddie. Finally, Barack Obama was elected on Nov. 4th, taking office on Jan 20th.

What is amazing is none of these people is responsible. Here is an article in which Dick Cheney says that the blame doesn't lie with the Bush Administration. He believes that since it is a worldwide recession that someone else is responsible.

Let us be clear: government played a large part in this crisis. Interests rates were sent to an all-time low to avert the recession after 9/11. This, along with the approved easing of lending requirements, caused the housing bubble. Frannie and Freddie were pressuring banks to buy the paper while entering a state of total collapse. Of course, we cannot forget that Congress passed the CRA in the 1990s which established the subprime market. Finally, the regulatory agencies were completely out to lunch the past 10-12 years. This allowed the devious to operate unabated.

Yet, we hear how "it is not our fault". All these politicians should be in jail. They are corrupt as well as inept. If you cannot imprison them, then perhaps we need capital punishment. There has to be some accountability to the American people. How about if our elected officials actually had something to lose. Do you think they would behave differently if their corruption resulted in execution? I think it would have some impact.

The bottom line is that we cannot trust these incompetent boobs for anything. Half of them are not qualified to work as meter maids let alone occupying the powerful positions they do. It is time they all were removed.

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What Is A Trillion?

The deficit according to Obama's budget is going to be $1.75 trillion. Do you know how much money that really is? The average person has no clue what that feasibly looks like. Here is something that will help put it in perspective.

http://www.pagetutor.com/trillion/index.html

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The Stupidity of The Young

Young people today must be dumber than at any other point in our history. The future leaders of tomorrow are brain dead. I am quickly becoming convinced of it. All the "dumbing" down that our educational system has done in an effort to "not make little Timmy feels less than" is taking its toll. Kids today lack any sense.

We all heard about the Rihanna/Chris Brown incident where he beat her up pretty good. Now, I will admit that I didnt follow the story that closely to know the particulars of what happened. The facts that I did follow is that he roughed her up pretty good. Evidence of the event circulated around the Internet.

What I find disturbing is what a survey in Boston produced. This was an informal study of 200 teenagers. The response is stunning: half believed it was her fault. (Read article here). Are you kidding me? 100 teenagers believed this woman deserved to get her ass kicked by some thug with low self-esteem? Well, that is what the survey produced.

This is why the kids of today at total idiots. What happened to the belief system that it was not right to beat a woman? When I was growing up, this was common sense. Yet, we as a culture seem to say that it is wrong while pardoning those who do it. Rock stars, athletes, and others are given a pass when they are caught doing this. Also, the more the black culture spreads into mainstream society, the more acceptable this becomes. My experience is that domestic violence is more accepted among the blacks. Bitch all you want, look at the stats.

The end result is that society is being taken down another notch because of the acceptance of this behavior. We allow the criminals of this era all kinds of rights. Well, my question is, what about the rights of the victim? This is what we need to address.

Here is my solution in this instance we tie Chris Brown to a chair and let Rihanna beat on his skull for 30 minutes uninterrupted. Let him feel what it is like to be beaten to a pulp.

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A Few Days and All Forgotten

It is amazing how quickly people forget what is really going on in the world. The stock market staged a remarkable rally this week. It is on its best run in the last few months. Many are speculating that the seeds of recovery are at hand.

Of course, they are forgetting that last week saw the market obliterated. The same financial institutions that are fueling this rally were the culprits then. What is the truth?

I, for one, do not believe that we suddenly solved the economic crisis in a week. There is a lot wrong with all that we are seeing. Unemployment is still going to head higher. The political scene is a mess with Obama spending like there is no tomorrow. At some point, hyperinflation is going to become a serious problem. The banks still have billions in toxic assets on their books. Confidence is still at a low. And, the housing market, the thing that started it all, is still in doldrums. Therefore, what really happened in a week.

The answer: nothing. A CEO came out and said his company was doing well (Citi). Of course, we should remember we heard this same mantra last year. Didn't everyone tell us how stable Frannie and Freddie were just before they were taken over? At the same time, the heads of all the banks we spewing optimism during the economic collapse. So, why are we to believe them now.

At present, I am betting that we are in for a quick and hard downturn. There is nothing to indicate that things are getting any better. A couple of harsh days in the market will remind everyone that the facts are terrible. The world economies are going downward.

America seems to have a short-term memory. We fail to remember the lessons of yesterday. The economic crisis is still weighing heavy upon us. Nothing the government is doing is going to solve this overnight (if at all). Personally, I believe we are in for a period where they only made things worse.

In closing, remember where we were only a week ago. Rome was not built in a day. At the same time, this recession will not turn until we suffer a whole lot more pain; regardless of what the powerful tell us.

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Another Exaggeration Of The Powerful

I am shocked. Well, not really. According to Gallup, many Americans are believing that perhaps all the hysteria and gloom/doom surrounding global warming might be a tad over the top. It seems the percentage of people who are thinking this way is growing. Perhaps it is because the weather is getting cooler in many parts of the country. Record lows have a way of doing that.

According to a study just release, the number of independents who are skeptical is growing. You can read the statistics in this article here.

I find it ironic that this subject falls along party lines. To me, this shows that it became a political process. There is no science left in this debate. How come the percentage among the Republicans and Independents rose while the percentage for the Democrats remained the same? Obviously, the politics are influencing the beliefs of these people.

It is a crime that there are billions of dollars being spent on something that is nothing more than a massive marketing ploy. There might be some validity to some of the science. Yet, anything that is real was warped beyond recognition. Al Gore and his cronies are turning into the biggest liars in history. It might be time to take all those awards away from him.

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Seems Consensus Is Waning

Disinformation is something that I really despise. After looking into the manmade global warming hysteria over the last few months, I am now convinced that this is a movement based upon fabrications. The entire consensus that Al Gore and his cronies tout is totally bogus. It is time that the truth be revealed.

It appears that there will be a gathering this week of credible people who carry a viewpoint that the argument over manmade global warming is not over. These individuals believe the evidence provided to prove "man's destruction of the Earth" is not credible. I tend to follow their reasoning.

The conference started today in New York and was to include over 800 people from all over the world who do not subscribe to the theory that man is responsible for global warming. In fact, many feel that the planet is cooling rather than warming. The average person in the northern hemisphere need only look at this winter's temperatures to understand that theory.

Also, there will be over 70 scientists in attendance at the 2009 International Conference on Climate Change. These are all people who feel that the Al Gore argument is totally bogus. It is nothing more than a campaign to promote something that he and his cronies are profiting tremendously from.

It is time that the average person woke up to the fact that their is another side to this argument. The notion that all credible people are for this concept is false. This article mentions that in addition to the 70 scientists on hand at the conference, there are another 650 worldwide who have expressed skepticism over man's involved in climate change. Wake up people and stop drinking the Kool Aid.

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Job 1: Protect Us

The politicians in Washington are forgetting one thing: the most important responsibility they have is to protect the American people. Mark my words: if Americans are harmed by terrorist organizations, whether they are from the Middle East or Mexico, there will be hell to pay. Obama and his cronies better develop some defense mechanisms. Their liberal pandering to people who hate us is going to get people killed. That will result in a sentiment to pay back in kind.

Mexico is a mess. Someone better realize that. Enough cow-towing to all the Hispanic organizations. If you dont like it, leave. This is a place where the citizens of this country have a right to feel safe. All the illegals coming over the border are putting innocent people's lives at risk. It needs to stop. We are witnessing chaos in our cities and the Federal government sits back and does nothing.

Houston is a city that is in total disarray. I believe they are still trying to recover from all the lowlife scum they accept from New Orleans after Hurricane Katrina. Now, they are dealing with Mexican drug dealers. Here is a story which shows the danger this city is facing.

I will say one thing about the Socialist George Bush: he understood how important it was to protect the American people. It was something that he stayed consistent with no matter what the polls said. He went to bed believing he did all he could to protect America. And, the results show that he was successful. Nothing happened on American soil after 9/11. I doubt the same would be true if Obama was running the show. I sense that we are going to see something happen in the next few years as Obama and the liberals reveal all our secrets (just think of Diana Feinstein revealing on camera that we used Pakastani bases). These people have absolutely no clue.

The time is nearing when the American people will have to take matters in their own hands. It is sad because most of them are sheep. In all actuality, many of them deserve their fate. It is the basis of nature. Survival of the fittest is the norm. In this era, it is intelligence that is the main commodity. And, most do not have enough sense to get out of the rain. They will learn only after it is too late.

I am here to warn everyone of the impending changes that are coming. We are seeing chaos in every facet of our lives. If you believe the government is going to fix anything, you are a total fool. The fact that our southern border is not secure shows how inept the United States leadership is. We are harking on a time when collapse on many fronts is a possibility.

Make your preparations now.

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American Workers

Senator Chuck Grassley of Iowa is pushing to have foreign workers fired before American workers. It is his belief that the government should tell companies who goes first. The pathetic part of all this is he is referring to companies who did not receive any government bailout. And, he is a Republican, the supposed party of non-government. Yet, he is pushing legislature to make this policy. (read here)

This all stems from the H-1B visa program. Under this, foreign workers are employed to fill roles that American are not qualified to fulfill. The high tech companies are the primary users of these types of workers. Over the last few decades, Americans have not entered into the fields of science and research. Plus, our educational system has inadequately trained our citizens to fill these voids. Thus, high tech companies are forced to get labor from outside the U.S.

Now the government feels the right to tell private companies like Microsoft how to run their businesses. This is abysmal. It is bad enough the morons in Washington are involved in banking, the automobile, and I am sure at some point, the airline industry. These people feel that all is within their rights. Capitalism is being destroyed by all who are in charge.

It is sad that so many people are losing their jobs. Yet, this is a condition of a recession. The marketplace has a way of clearing out the excess. In times of prosperity, lots of companies are formed which cannot survive a downturn. Thus, the marketplace clears out the weaker companies with the stronger ones surviving.

Protectionism does not work. Forcing a company to keep a weaker employee simply because he or she is American is not how businesses flourish. Companies prosper because they accumulate the best talent. Having "protected" people only weakens the entire organization. This is why I have such a problem with unions. They provide cover for those who are inadequate which makes the whole less effective.

Senator Grassley is another politician who has no clue. He simply does not get it. Here is an example of an elitist in Washington who thinks he knows how business should run. This is absurd and ought to be outlawed. It is time for Washington to go away. All they do is screw things up worse.

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Do As I Say...

The tax cheats that Obama tried to put into Cabinet positions are only the tip of the iceberg. It seems that there are many in political power who feel that paying taxes is beneath them. This is the group that is responsible for spending the taxpayer dollars. They will raise taxes whenever they see an opportunity yet feel the need to disregard the rules themselves.

Here is an article that outlines some of what is occurring in the Georgia legislature.

It seems the representatives in the state Congress feel exempt from paying (and even filing returns) taxes. Here is a clear situation where these people ought to be immediately removed from office and sent to jail for a year. They take an oath to uphold the laws of the Land (state, federal, etc...). To me, this is the breaking of sworn testimony. Perjury charges ought to be levied with an automatic 1 year imprisonment if convicted. Perhaps this will start to alter the actions of the powerful.

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Inspired Not To Produce

We all know that many government people are lazy and only seek to draw a paycheck. The concept of working hard is not on the agenda. Career progress is usually a result of politics as opposed to hard work and innovative ideas. That, unfortunately, is the nature of government.

For the past 200+ years, we were fortunate because growth came from the private sector. People were inspired to create and produce. Most of this growth came from small business and individuals who wanted more. The American Dream was in play and available to those who went after it. This behavior was supported by the government.

Now, that idea is dead. Obama, in only 5 weeks in office, killed the American productivity system. I will admit, that is an amazing feat. He really has changed things like never before. I have never seen one individual scare the country like this man. It is rather Hitleresque (for all those who are offended at the comparison, screw you!!!). Obama is taking fear to a new level.

The American Dream was crushed with one budget proposal. It is really an incredible thing to see. Anyone who is making over $250,000 is going to get royally screwed under this moron's ideas. Therefore, we are going to see an adjusting of the marketplace. People are now inspired to work less. That is the new American Dream.

Here is an article found on ABCNews (Not exactly a right wing site) detailing this idea.

Obama is CLUELESS. There never was anyone who occupied the Oval Office with less sense than this guy. He is beneath contempt. Perhaps Obama should have gotten a job in the private sector before trying his hand at policy that affects business. His sense is none. He will be known for destroying the way America operates. The new American Dream is fat, lazy, worthless people on welfare.

It is time for a massive tax revolt. That is the first stage of the revolution.

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The Capabilities of the Government

This sums up how imept the government is. After reading this, I feel less certain about them being able to run the banks, AIG, or a car company. Perhaps they should focus their attention somewhere else.

Read article here.

Anyone else scared now too?

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Just Like A Drug Addict

'"We are all Jonesing now for money", Mr. Ammiano said...'

Money is like a drug to the government. Once they get a little, they want some more. To them, there is never enough. They are like a heroin addict.

We are seeing how this addiction has caused the nation to go into crisis. States like California have spent money like there is an endless supply. This is typical of most states who were run by tax and spend politicians (which most of them are). These people feel entitled to the people's money. It is their belief that how much they spend is of little consequence.

What is amazing is when one actually admits to their addiction. A recovering drug addict will freely tell of all he or she went through to get high. It often is not a pretty story. Here is an article which tells of some of the things that one political leader went through to get more money out of the taxpayers. The analogy is almost eerie.

Now that there is financial turmoil, the politicians are looking for new ways to raise money. Everything they can tax will be taxed. It is that simple. A heroin addict will steal your television to score some dope. A politician will tax the hell out of the people so they can keep spending. It is like it is in their DNA.

This is going to occur at every level of government. The local governments are going to increase property taxes while the states are doing all they can to up their portion. And, the Feds? Well they are running a $1.75 trillion deficit. Do you think that 95% of the people will see a tax decrease? This is pure propaganda. We are in the middle of the largest redistribution of wealth this country ever saw. There is no way for it to be avoided. Money is going to move from the private sector to the government doles quicker than ever before.

This is highway robbery; plain and simple. These people belong in jail. If they were in the private sector, they would be facing prosecution. Perhaps it is time that our political leaders were held accountable for their actions.

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How Much Is It All Really

Politicians mention billions of dollars like it is water. However, have you ever thought of how much a billion really is. I came across a wonderful site which gives examples of how much it is really.

Click here to read.

My next question is: how much is a trillion, as in $3.5 trillion?

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History Repeating Itself

We have reverted back to the 1700s. They say those who fail to learn from history are doomed to repeat it. I believe we are witnessing the beginnings of a struggle which was fought over 200 years ago. Unfortunately, the political leaders in Washington are no different then the King of England during that period. It seems many are feeling what the colonists felt.

There was a group of brave protesters in St. Louis who staged a revision of the Boston Tea Party. (Read article)

Taxation is not the immediate cause of unrest. It is spending. However, if anyone thinks that Obama is going to pay for all this mess without taxing the middle class, they are insane. Already we are getting estimates that his tax on energy is going to raise the average electric bill by 6% while a gallon of gas will go up 12-15 cents. This is on top of the increases at the state and local levels. People are going to pissed when the new taxes hit.

People are also outraged at the fact that their voices are not heard. The politicians do what they want without consequences. Take the bailout of the auto manufacturers as an example. The polls showed the majority of Americans were against it. Yet, even after Congress voted against it, Bush went ahead anyway. Ditto for the stimulus. Contrary to what the politicians say, polls showed the majority of Americans were also against that bill. Again, it went ahead. Now, we have a $3.5 trillion budget which will saddle future generations with debt. What are the chances this passes?

Once again we are at the point where the people are being screwed. It is sad there is not the national outrage against those in power. The people in the government are destroying this country and everyone is standing by allowing them. This will certainly come back to bite them in the ass.

I applaud the people in St. Louis today. Good for them. Hopefully we will see more of it in the future.

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Finally Someone Said It

Political correctness is creating a nation of sissies. For years we have had to hold our tongues for fear of "offending" someone else. Well you know what, some need to be offended.

Nevertheless, dont take my word for it. Here comes the statements from Dirty Harry himself.

Read here.

A sissy, he is not.

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An Emphathic No

What does it tell you that the stock market has dropped roughly 25% since Obama took office? The stock market has a way of casting it vote each day on the different situations around the world. Unrest in the Middle East is met with an immediate increase in oil prices. When the situation reverses, the price goes in the opposite direction.

So, what does the market tell us about it's feelings about the Obama policies? I believe it is saying "they suck". That is the only way to read the situation. The Treasury Secretary half heartedly tells us what he is going to do and the market plunges 300 points. Obama gives his State of the Union, and the market suffers another down day. Naturally, the $3.5 trillion budget was met with the same results.

Larry Kudlow has an excellent article about this very subject. Read it here.

I think Kudlow is right (one of the few times). Obama has an all-out assault on the business. He believes that anything not in the control of the Federal Government is bad. Private investment is something that needs to be destroyed. If he cannot regulate it, he wants to tax it or nationalize it. This is the essence of his administration.

The sad truth is the government cannot solve any problems. They have zero problem solving skills. If you doubt it, look at education. We trusted the government to educate our children and we have a bunch of idiots. At the end of the day, waste and fraud prevail when the government is involved.

We are seeing the only semblance of intelligence voting each day on Wall Street. The American people voted overwhelmingly for Obama. However, most of them are like sheep. They will do anything NBC news tells them to do. The market is made up of people who have the financial risks exposed. They tell us who is wrong and who is right.

And, at the moment, Barack Obama is totally wrong.

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Fantasy Land

Just when you thought it couldn't get any worse, it does. We all know that Obama and his liberal cronies in Congress are on board with the global warming myth as a means of income redistribution. That is no secret. Thus we are seeing many things in the budget which move us to tighter, business unfriendly policies.

Yet, now we find out that a squirrel could be the undoing of our entire energy policy. Now lets be serious folks. This animal is like a hamster (which to many is a rat). Nevertheless, environmental morons want to protect the pike.

Here is the article.

The point that I want to stress is that many are using the global warming argument as a means to project the demise of this creature. Well, this is a myth of the grandest proportions. The planet, in spite of what Al Gore and his loony friends say, is not getting warming. In fact, over the last decade, the temperature leveled out before dropping the last couple of years. (Read article here).

This is total hypocrisy. These people are seeking to destroy business, thus the economy and American way of life, over a total myth. Al Gore says there is consensus. He is a liar. There is no consensus among scientists. In fact, the argument is swaying in the other direction when real scientists, not ones who get their research dollars from the government, are considered. Global warming is a lie. Everything this movement says is false.

The polar bears are not going extinct; their population has never been greater. Artic Ice is expanding especially when true reading are used (not omitting a mass the size of California. Sunspots are at a 50 years low. And the PDO switched to a cooling phase. All this leads to a downturn in worldwide global temperatures.

The political leadership in this country is in fantasy land. Well, maybe they know what is going on and the American people are asleep. Either way, they are selling and we are buying a bunch of bull crap.

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Nobody Is Profiting

Capitalism is now dead. I got this straight from Jim Cramer, the host of the popular show "Mad Money". Cramer, on his show, said he believes there are no stocks which can profit from Obama. This is something that I never witnessed in my life. There is always a sector which should move based upon the new President. Republicans typically favor defense so that those tend to rise after he takes office. At the same time, alternative energy companies and healthcare often jump when Democrats win the White House.

Obama is a friend of nobody other than government. He is a fan of huge government and an enemy of business. This is a man who believes that business is bad. People who succeed in the private sector are evil according to his mindset. For this reason, he is doing everything that he can to crush the private sector.

I have mentioned that, based upon his early decision, Obama will go down as the worst President in history. He is so left of center that his decisions are alienating the rest of the country. Yet, I doubt he cares very much.

Does Obama believe he is doing the right thing? I believe he does. Of course his ideology blinds him to the most basic of facts. And, just because one believes it doesnt make it so. Charles Manson believed he was doing right by mutilating another human being. It doesnt make it right.

$3.6 trillion. That is a number which is astounding. I do not care what the circumstances, there is no justification for that type of money. Obama is a madman who has no place serving as dog catcher let alone President.

And for all of you who voted for him, go look in the mirror to see what a total jackass looks like. You are the real morons of the country.

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Insanity To The Nth Degree

We always wondered what it would be like to have a madman in control of the "button". This sent fears throughout the entire cold war. Would the two leaders have cool enough heads to prevail. Well, we are back to that point.

Barack Obama is a total madman. I do not believe he is unstable when it comes to nuclear weapons. However, fiscally, this guy is a maniac. He unveiled his budget today to the nation. And it is a doozy.

Before going any further, I want to remind everyone that the largest budget under the last socialist, President Bush, was $500 billion. Keep that number in mind when you hear what Obama wants.

His budget for the next year is $3.75 trillion with a deficit running $1.75 trillion. Are you kidding me. This is outrageous. He is committing larceny as we speak. Talk about ripping off our children. (Read story here).

I wrote yesterday that Obama is proving himself to be a tax and spend liberal. This budget further proves this idea. He is going to taxes by $1 trillion to help offset his insanity.

Welcome to anarchy 2009. We are witnessing the end.

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Tax and Spender

The ruse is over. For anyone who actually believed that Obama was a centrist or was going to govern from the middle, your world was shattered last night. If the fact that he signed the largest spending bill in history did not convince you, his speech to Congress did. Obama is a liberal in the truest sense of the word.

So what are we confronted with? We have a leader who is the atypical tax and spender. Obama believes that government is the answer. He likes it bigger and bigger. The more power the government has, the happier he is.

Obama is going to get his wish. He has the most liberal Congress that I can remember. Any organization that is headed by a representative from San Francisco is going to be way out there. And this one is.

I believe most people understood that Obama was one who would say anything to get elected. Hell, what politician won't? However, there were some who actually believed in "change you can believe in". What a ruse that is. He is no different then any other power hungry politician. Everything that he is doing is par for the course with Washington. Lobbyist in the administration is nothing new. Neither is unscrupulous people serving in the cabinet. Overall, Obama is atypical of Washington.

After last night's speech, my beliefs were confirmed. Forget the rhetoric of slashing the deficit in half. This guy is going to waste so much money over the next few years that the debt will grow by 50%. He will make Bush look conservative and he spent like a drunken liberal.

The issues confronting California and New York will be confronted by the country. Those two states have been run by tax and spend liberals for decades. Now, they are broke. This will be the United States in a couple of years. The only thing saving our asses right now is the fact we can print money. Wait until nobody has confidence in it. Then all hell will break loose.

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Misled Again

Al "global warming" Gore has changed his presentation. It seems that one of the slides he used was proven to be misleading (i.e untrue). Now if we can get him to get rid of the rest of the fallacy called his hypothesis.

Read story here.

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It's Only A Couple Hundred Million

It seems that the government blew through $273 million in no time. The payoff: nothing.

NASA lost a satellite which was to measure the entry and exiting of greenhouse gases from our atmosphere. Read the story here.

Maybe this will help to strike a blow to the global warming myth. God is telling us what the truth is.

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This one certainly is a dumbass

Watch this video of the leader from ACORN. The entitlement mentality is alive and well. I wonder if beating this woman with a belt is covered by the Constitution since it will give me happiness.

Check out this VIDEO

This is just another example of how the government is creating a dependent state. And, remember, this organization was just given billions by the Obama stimulus package.

The revolution nears.

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An Addiction

Have you ever seen an alcoholic at an open bar? He (or she) is like a kid in a candy store. It is like a license to steal. Drink all you can for free. It is an alcoholics nirvana.

I bring up this analogy because it provides a visual for our current political leadership (the last set of leaders falls into this category also). This morning, I read that our fearless government executives in Washington are proposing another $410 billion in spending. This is coming on the heels of the $800 billion stimulus and the trillions which the banks are getting. We have certainly entered the twilight zone.

This is a royal screwing of the American people. Forget about what the money is used for, at this point none of it matters anymore. When we are dealing with numbers so big, it is impossible to monitor it all anyway. The TARP money is an example of that.

What I find interesting is how immune we suddenly became to the numbers being thrown around. There was a time when a billion dollars meant something. Do you truly understand how much a billion dollars really is? Yet, today we talk in terms of hundreds of billions of dollars. This is a sum we will never be able to pay back.

There is a simple truth which most people fail to understand: money is a drug to politicians. They cannot get enough of it. Their entire power is based upon the money they control. When they control more money, they control the people through the use of handouts. Look at the expansion in the welfare system. The joke of a stimulus package put in stipulations that states received more money for putting more people on the dole. This gives the states incentive to make more people dependent. Hence, more power for those with the money (Washington). It is ridiculous.

Where will this all end up? I am not certain. I hope there is a peaceful resolution to all this. However, my instincts tell me this is not likely. The economic fundamentals simply do not compute. We cannot spend like this and hope that everything will be okay. We are already going to be confronted with massive inflation when recovery does hit. To counter this, the Fed will raise interest rates, which will stunt growth due to lack of lending. Thus, our recovery will be slowed (or stunted) because of the choices the politicians made now.

I believe we are going to see a major revolution in this country. There will come a day when the people who are being handed the tab for all this crap are going to say "enough". The amount of working taxpayers is decreasing. Each time the government removes an independent from the tax rolls while putting them in the dependent category, we see a shift in the amount of people contributing. This means that fewer will have to give a larger portion. At some point, people say "no more". It is time those morons in Washington paid attention. But, alas, they wont.

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BiPartisianship?

Obama is going to reach out to Republicans to change the tone in Washington and to get bipartisan agreement. Here is the question: when did Obama make this promise? If you guessed during the campaign you are wrong (well you are right but that is not the answer I am looking for). Obama made this statement today.

President Obama has promised to reach out to Republicans during his fiscal summit. Of course, he left himself an exit by stating that some philosophical differences are impossible to overcome. (Here is the article).


Isnt this something? We have heard this one before. Here is a clue for President Obama: we are wise to you. When Obama, as most politicians, say "bipartisanship, they mean that the other side agrees with them. This is how he thinks. After all, he won the election. What a crock.

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A Proven Solution

We are in a recession (or is it a depression) and Obama is proposing raising tax on the "rich". First, if anyone believes that this will be relegated only to the wealthy, then I have a bridge in Brooklyn to sell you. Secondly, when in history was it shown that raising taxes got us out of a bad economy.

Here is a clue: to get out of a downturn in spending, someone needs to start spending. That usually falls to the people with money. Since the poor have nothing and, now, the middle class is tapped out, that leaves the rich. They are the only ones with any money left. Yet, Obama feels it best to grow the government by taxing these people more.

Obama is suddenly concerned about the deficit. We know what this month's revelation is. Last month, Obama thought the deficit irrelevant when he was passing the biggest spending bill in U.S. history. Of course, now by being a budget hawk, Obama is able to implement more plans to redistribute the wealth. His social engineering platform is taking shape.

What do you call someone who sounds middle of the road yet is a flaming leftist? Barack Obama. Claims of socialism are not unwarranted. This guy is a lefty in the total sense of the word. And America fell for it. Well, I cannot blame the stupidity of the American people on Obama. They got that way all on their own.

Everyday we see the stupidity of this man. Raising taxes on the only set of people who have any money during the worst economic crisis in decades. That is stupidity at its finest. You talk a good game yet are proving that you are totally full of crap. Go back to Chicago you moron.

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What A Fraud

Obama has no clue what he is doing. Personally, I thought we would never see anyone who was as inept as Jimmy Carter. I was wrong. This guy is going to make Carter look like Abraham Lincoln. Mark my words, the Obama administration (and the morons in Congress) is going to screw this situation up that it will take us a generation to unravel.

Once again, the stock market crashed following the remarks of the esteemed President. His gurus are now thinking of buying 40% of Citibank. I dont know about you, but the idea of the government owning one bank while the rest are struggling is not a good thing. Not only will the shareholders suffer, but the system is going to dive at this idea. We are already seeing it.

Besides, what makes these morons think the government is able to solve any business problem. Let us look at the entities the government is involved in. The United States Post Office. Losing billions. Amtrak. Ditto, billions in loses. Fannie and Freddie. Total collapse. Do you get the point?

Obama campaigned as a problem solver. The truth is he is a talker when it serves him. At the moment, Obama is talking down the economy. If you believe that to be right-wing rhetoric, then check all his speeches the last month. He makes speeches that are self-serving without regard for who he is hurting. Obama, as all politicians, are out for themselves. Maintaining power is the focus. And he will do anything for that end.

For weeks we heard how crucial it is for his "stimulus" bill to get done. Forgetting the fact that this is the most obvious liberal spending platform ever, it increased the debt by almost $1 trillion (closer to $2 trillion when interest and all the rest is factored in). That was bad enough. Now, suddenly, this moron suddenly feels that deficits are dangerous (read article). Yeah, no shit Sherlock. Of course, saying that before we spent $30 million studying the mouse in San Francisco (courtesy of Nancy Pelosi) was not in the cards.

Obama is a total fraud. He is someone who is totally unqualified to be President of the Boy Scouts, let alone the United States. He is a liar from the corrupt Chicago political establishment. He is showing himself to be a say anything to get elected type but do none of it. His administration is filled with lobbyists and tax cheats (and it would have more if he could have gotten them through). In short, he is pathetic.

The end is closer than we believe. Obama is going to screw up the United States so much. We are closing in on the time when the revolution will take place. Remember, you Presidential piece of trash, you work for us.

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Management Style

Barack Obama is an excellent campaigner. He is so excelled at that trait that he wooed most of America into overlooking his lack of experience (the media helped in this also). Unfortunately, it seems that Obama has failed to realize there is a time to campaign and a time to govern. And, part of governing is managing.

Here is an excellent article which talks about Obama's management style. It raises some valid questions.

Does Barack Obama have any idea what he is doing? This is a valid question which I think many Americans are beginning to wonder. Leave aside the left wing pukes who are only there to defend Obama no matter what he does. Other then them, is there anyone who believes this guy is successful so far.

Everyone understands the economy is in rough shape. Most even would believe that the administration is facing something unprecedented in the state of the banks. However, it seems that Obama has failed in at most of what he tried.

The stimulus package is in great question. Even if you believe massive government spending is going to salvage the economy, you will question this bill. Pelosi and Reid drafted it. Why is that? Perhaps Obama is willing to be just a figurehead as President. Therefore, this is the toughest situation that Congress ever faced since they are leading.

Perhaps the economy is too tough a situation. Okay. Let's look at something a bit easier: cabinet appointees. Every President has trouble with some of their appointees. However, they usually encounter major obstacles when the other party is holding Congress. Obama has Congress. Yet, he was tripped up on a number of occasions. In fact, he was wrong more than he was right (on the major positions). You would think that finding someone who paid their taxes would be fairly easy.

There are many who believe that Obama has not been assertive enough. I agree. However, do not think this will change. Obama's m.o. is that he is a hider. How many times did he vote present while in the Senate? Voting present is akin to saying "I dont know what to do so I will just say I was here". One does not have that luxury as President.

Can anyone ever be fully prepared for the pressure of the Presidency? Probably not. However, this guy is so ill-equipped to deal with anything that he has seen so far. Imagine if one of our "friends" in the Middle East starts misbehaving. What then? Will Obama hide underneath his desk.

It is time that Michelle (or Nancy Pelosi) gave the President his testicles back. The country needs them.

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$17 Billion Paid Off

Are we totally insane? It seems the bill is coming to the surface. General Motors is claiming that it can need as much as $30 billion in 2011. We are now to the point where this is all asinine.

It is bad enough that Obama signed into law that farce of a bill designed to stimulate the economy. The only thing that is going to be stimulated are some of the pocketbooks of those who supported those who are presently on power. Now, he is going to have to decide whether to give these morons in Detroit additional money. My hope is that he tells them to go fly a kite. However, my hunch is that he will help them out.

Those of you who are regular readers of this blog know that I detested the "end around" that Bush pulled on Congress back in December. The predictions that came from most economists was that the bailout was not going to solve anything. And, it did not. Instead, 60 days (or so) later, they are back at the door with their hand out looking for more money. It is atrocious.

What needs to happen is for GM, and perhaps Chrysler, to enter into Chapter 11 and get reorganized. Many in management need to be removed in favor of others who can steer the company right. The crushing contracts with the unions and the dealers need to be renegotiated in bankruptcy court so that these companies can compete in the open market with the foreign imports.

Simply put, if Donald Trump can enter bankruptcy for a third time, General Motors can try it at least once. Enough of wasting taxpayer money on bull crap. We expect better from our leaders President Obama,

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The Right To Protect Yourself

Have you ever noticed how politicians will stand at the microphone and tell how we need to give up our guns. They want to create a state where they have total control. Taking away people's firearms is one of the primary methods to weaken the populous. It was effectively used by dictators throughout the last 200 years. Now, we are seeing it in the United States.

Of course, there is total hypocrisy with what the politicians are saying. For example, when the President stands up and says that we need more gun laws, he is doing so while surrounded by a dozen armed guards. So it is alright for him to have protection but not us.

Naturally, not every political leader has the Secret Service looking out for him or her. Sometimes that person will have to take matters into his or her own hands. This is a free exercising of the Constitutional rights afforded each citizen. Kirsten Gillibrand is a Senator in New York. She is also one who owns shotguns as a means of protection. This last week she had to move the guns because their location was leaked to the press. I applaud the Senator for using her rights to protect her family. (here is the article)

Now, you can guess what is coming. The Senator is facing a challenge for her seat from one who wants more gun control. There is a faction of the population that wants to remove all the guns from every law abiding citizen. The claim they are taking it out of the hands of criminals but that is not the case. A criminal, by the very definition, does not abide by laws. That is why he or she is a criminal. Buying a gun requires no license, waiting period, or anything else when you are doing it on a street corner. Cash is the only proof one needs.

Yet, this point seems to be overlooked by the anti-gun lobby. They are so foolish. Another of their arguments is that it protects the children. Let me ask you, how many children are killed each year by guns? I dont know the exact number but I recall reading a stat a few years ago that mention it was a couple hundred. Do you know how many people are killed by automobiles each years? I know the answer to this: it is around 40,000. Perhaps we should outlaw cars.

Here is the bottom line. Gun ownership is a right guaranteed by the Constitution. That means one does not have to earn it or qualify for it. It is inherently given to that person. This is no different than the right to vote. That is given to every adult in the United States simply because he or she is a citizen. We get our rights by default. Now, they can be removed if we are convicted of a crime. But short of that, every adult has the right to bear a firearm.

This is just another example where the rights of ordinary citizens are being trampled upon in the name of protect. Society seems so concerned with the "greater good" that it is destroying the very principles it was founded on.

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States Going Broke

Which state is going broke the quickest? If you guessed California you are wrong (although that is a good guess). It is Kansas. The facts are being revealed that the state is in jeopardy of not being able to make payroll in the next week. Presently, there is not enough money in the state's bank to cover the payroll due the state employees. To my knowledge, this is the first state in this predicament.

How did we get to this point? What happened to all the tax dollars the state collected from the citizens who reside in Kansas? I will tell you what happened: the politicians in charge of the money spent it recklessly. We are seeing this same situation all across the country. California. New York. Massachusetts. And Kansas. Politicians spend money like there is no end to it. Yet, when it runs out, they are surprised.

Of course, this could be part of the reason for the massive spending bill (sorry but to call it stimulus would be lying to my readers). It contained "bailouts" for the states which blew the budgets to all hell. Personally, I think those in power ought to be forced to resign before one dime is given to them. It seems that the Feds have no problem pushing their will on the companies on Wall Street. Why dont they take the same approach with the different states? Because they are all in the hopper together.

Corruption is corruption. We are faced with an economic crisis because of reckless actions on the part of many. Now, we are seeing how the actions of the state representation was just as corrupt. Many lost their jobs on Wall Street. I think it is time some of these governors and state representatives of the states who are broke need to suffer some also. It is time to call for their immediate resignation.

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The government feels it is all theirs

Have you noticed that the American government feels that everything is theirs? This was the mindset when we started as a country and it has not changed. If you remember back in the 1700s and 1800s, the government "sold off" non-settled land. By default, since the property was never titled, it was owned by the government of the United States. This entity feels it is entitled to make money off anything that it chooses.

What is the present day land sale? Well, we know it as the Internet. It is the new frontier of expansion. And, just like a couple hundred years ago, the government feels entitled to profit from this medium. Politicians who spend like drunken sailors simply cannot keep their greedy hands off things. Anything that they can gain tax revenue on is fair game.

Unfortunately, this mindset is not only at the Federal level. The states now believe they have the same rights. The idea of sales tax being charged on purchases over the Internet have been circling for years. It seems we are getting closer to that ultimate end.

Here is an article detailing what the governor of New York is proposing.

This is another instance where the lack of financial discipline created a deficit. New York is one of the worst states for this along with California. Their tax rates are already astronomical since the legislature cannot control its spending. Now, it wants to tax the Internet as a means of raising more money. This will lead to a domino-effect where all states follow suit. It is only a matter of time.

The states are already being "rewarded" by Obama's joke of a stimulus package. Politicians at the state level were recklessly spending for years. Now, instead of enjoying the "fruits" of their labor, they are being bailed out by the rest of us. This angers me. It is completely a case of taxation without representation. The fact that my tax dollars are going to an elected official whom I did not have a chance to vote for is unconstitutional. If the governor of a state cannot pay the bills, let that state deal with him or her. It is not my business. I have the leaders in my own state to monitor.

Once again, we are seeing another step in the eroding of our freedoms. There will come a time when the people stand up and say "enough". The further this goes, the quicker that time will come.

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The Government Misleading?

It is the general viewpoint of The Revolution that the people in the government are liars and part of their agenda is to mislead the American people. To accomplish this end, fear is the primary weapon used to gain our consensus. We saw this with Bush after 9/11 and we are seeing it now with Obama. Each used the present circumstances to negotiate absurd agreements which otherwise would have been shot down. The $800 billion behemoth that just went through Congress is a prime example.

Nevertheless, it seems President Obama is taking the fear mongering to a new level. He did it during the campaign and now he is really doing it in his administration. Talking about how bad things are going to get is his favorite pastime. Nothing positive ever comes out of his mouth.

I came across an excellent article which lays out this claim.

By the way, according to most sensible people, the idea of spending your way out of a financial crisis only leads to a worse situation. The government's answer is akin to you personally being in rough financial shape and taking out a loan to redo you bathroom. It simply doesn't make sense.

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Bailout or Bankruptcy

Do you remember what I called "the end around" that George Bush pulled on Congress in December when he bailed out the automobile manuafacturers to the tune of $17 billion?"  Well, it seems the money didnt not fix anything at all.  Now, General Motors is giving the Obama administration an ultimatum: give us money or we will file bankruptcy.

To me, this seems like an easy one for Obama.  After the rough couple of weeks he had, he needs a soft one.  His decision ought to be left the company file bankruptcy and work it out there.  The government need not mess with this situation.  Jobs in that industry were already lost due to the slowdown over the past few years.  Some more might be lost but in the long run, more will be created.

The automobile manufacturers have nobody to blame but themselves for the mess they face.  A systemic failure is not possible like with the banking industry.  Someone will built cars for us.  It might be Ford, Chrysler, or Toyota.  There are plants in this country, just some are located outside of Detroit.  Unions are partially responsible for their plight.  Yet, management missed the total shift in consumer demand.  Let them float downstream together.

Is this what Obama is going to do?  Of course not.  He is on his knees beholden to the unions.  He already signed 4 executive orders which were extremely union friendly.  Now, he is going to give them billions more to prevent the unions from losing their power.  Dont worry.  When you blast through almost $800 billion without a single person in Congress reading the bill, what is another few billion.  

If Obama goes this route, it will be just another sign of what a terrible administration this is going to be.  He is showing that he is a pansy when it comes to leadership and intent on creating a nanny state where all Americans are weak.  Dependence upon the corrupt government, that is Obama's goal.  

He must be stopped.

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