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Archive for the ‘The Economy’ Category



I’m Not A Bolshevik, I’m A Leninist

January 31st, 2010 at 11:15 am by Brian

See the difference?  Because I don’t.

The guy who spends his whole life thinking about how to screw people in the ass has a plan to stop the ebbs and flows of the global market with some prescription-strength Astroglide applied liberally.  Yea, yea, yea.  A hammer sees every problem as a nail.

QOTD from the prolapsed Prole himself:

Rep. Barney Frank (D., Mass.) said that a bank tax and other tough new measures would be introduced by the individual countries, but in a coordinated way to prevent bankers from moving from one place to another to escape regulation.

“Lenin might have been able to put socialism in one country, but tough bank regulation in one country ain’t going to happen because we will lose people,” said Frank, who heads the House Financial Services Committee, a key spot for any American decisions.

But don’t call them Bolsheviks.  It’s like poison complaining about a skull and crossbones on it’s warning label.

Shorter Frank:  Wenin put sociawism in one country but what we need is a Gwobal Weninist so that the sands of other people’s money won’t swip through our fingers.

You have the head of the House Financial Services Committee arguing in favor of Global Leninism.

You can go ahead and pull your money out of the stock market now.

Boot Bernanke

December 4th, 2009 at 10:51 am by Preston Taylor Holmes

Here is a great grilling of Ben Bernanke, who should NOT be allowed to continue destroying our economy. But the bought-and-paid-for Senate will gently cup his buttocks and carry him through as this is how their pockets stay lined.

On Deep Sh–

October 26th, 2009 at 8:04 am by Brian

Tom Donohue, head of the US Chamber of Commerce, has some strong words for the leftards trying to ramrod envirowhacko legislation up our already unemployed asses:

U.S. Chamber of Commerce President Tom Donohue says a campaign by the White House and its allies to undermine his $200-million-a-year association has largely failed — and actually has helped raise even more money for its pro-business efforts.

In a 75-minute interview with POLITICO, Donohue dismissed recent defections by Apple and at least four other companies, which quit over the Chamber’s opposition to Democratic climate change legislation — as essentially meaningless. “Members come and go all the damn time,” he said.

That’s true. But rarely — if ever — have companies jumped ship in such a public way.

Donohue made plain he believes the White House, or at least its closest allies operating on the outside, are behind a very orchestrated campaign to embarrass and undermine the Chamber.

Under pressure from MoveOn.org and other groups, Apple, PG&E and Exelon have left the Chamber over the issue — and Nike resigned from its spot on the board. And pressure on others to follow suit is often intense.

Donohue refused to say if he believes the science behind global warming. “Is the science right? Is science not right? I don’t know,” he said.

What he does know, though, is that he’ll fight anything that the Chamber believes would unfairly harm business, especially if the Environmental Protection Agency moves forward, while Congress haggles, with its authority to regulate the release of greenhouse gases.

“If we got the EPA one, then we are in deep sh– as a country,” he said. “You want to see unemployment? You will see some.”

This, of course, is working under the assumption that the current administration does not want high unemployment so that the government can simply buy all of tomorrow’s unemployed votes with a handout and using the EPA to create just the kind of crisis they have the solution for.

Let the boycotts begin.  No Apple (no problem).  No Nike.  Correction here: PG & E not Proctor & Gamble as previously noted.


Heyyy, wait a second.  A lot of those products already  hurt the environment, use slave labor or directly benefit from climate hysteria legislation.   It’s almost like there’s a racket going on here.

Chicago Sun-Times, Next to Be Blacklisted

October 20th, 2009 at 9:16 pm by Michele

Excuses Wearing Thin for Obama, Media Pals

The White House trying to dictate who’s a news organization. Democrats out to gut a business group. Obama media allies damning Americans as racist, unpatriotic and treasonous. Is this the America Obama promised when he campaigned to end the cynical and divisive politics of the past?

RTWT

Tick, Tick, Tick…

October 11th, 2009 at 8:41 pm by Brian

I don’t know what Day By Day’s copyright standards are or I would have reposted it here but this pretty well sums it up.

The Road to Health Care Reform is Paved With Good Intentions

September 4th, 2009 at 10:29 am by Michele

Too bad it doesn’t really get you to the doctor you need or the hospital you want, or the drugstore….

Sorry to overburden you with Milton Friedman, but I think you might like this one. Some examples of how with the help of the Federal Government, Americans have more choices, lower costs, and a better and safer standard of living.

Just take a moment and watch from about 18:00 to 27:00.

It’s not only about what kind of social- meddling I would have to endure personally, but I think I would end up looking at my fellow human beings in a different light.

Would I want to pay for the health care of a chain smoker? Or someone who sky-dives? Would I want to pay for the health care of someone who eats Twinkies all day? When I go to Wal-Mart, am I going to think about how much money I am spending on all of the George Romero movie extras I see walking around, as opposed to saving a buck on my box of  lemon cream Luna bars?

Are we all going to be required to eat Lemon Cream Luna bars?

Now that’s a frightening thought.

Around the Bowl, Down the Hole

August 19th, 2009 at 10:54 am by Preston Taylor Holmes

Yes, for the few of you who have been asking, I’m still alive and kicking. Real life has just been busier than usual so bloggery falls down to about 9th or 10th on the priority list from its usual 5th or 6th slot. Luckily you have the lovely Michele, the brilliant BMac, the hard-to-find Cranky, the occasional Nigel, the once-a-year Tiny, and the quarterly Yiddish to get you through.

I have not, however, been out of touch with what’s going on with the demise of our once-great nation. Just to prove that I’m keeping up, I’ll be throwing out the occasional link-dump so that you read what I’m reading.

Here’s a look at what my RSS feeds have fed me while I’ve been away.

On Obamacare, anyone with a lick of sense knows that the idiotic rambling coming from the Obamabots and HHS Head Kathy “Late-Term-Abortion” Sebelius was a crock of shit. They threw out their new Axelrod-Focus-Group terminology of “co-ops” instead of “single-payer option” which was already code for “government controlled socialized medicine”. It’s all the same crap – they’re just trying to change the language so that you might be bamboozled into getting on board. Don’t buy it.

The Obamessiah is the same Marxist that he was in 2003 when he pushed “single-payer” back then. We’re supposed to believe now that he’s changed his mind on that. Again, bullshit.

Make no mistake, they are unabashedly for the elimination of private insurance (and ultimately the elimination of capitalism altogether…). Screw what you and your family have, need or want, it’s all about the government elites controlling every step you take.

The media continues to try and vilify Sarah Palin for using the term “death panels” and she continues to kick their asses.

One can hardly deny that Palin’s reference to “death panels” was inflammatory. But another way of putting that is that it was vivid and attention-getting. Level-headed liberal commentators who favor more government in health care, including Slate’s Mickey Kaus and the Washington Post’s Charles Lane, have argued that the end-of-life provision in the bill is problematic–acknowledging in effect (and, in Kaus’s case, in so many words) that Palin had a point.

If you believe the media, Sarah Palin is a mediocre intellect, if even that, while President Obama is brilliant. So how did she manage to best him in this debate? Part of the explanation is that disdain for Palin reflects intellectual snobbery more than actual intellect. Still, Obama’s critics, in contrast with Palin’s, do not deny the president’s intellectual aptitude. Intelligence, however, does not make one immune from hubris.

How did she manage to best him in the debate? Because he’s an intellectual lightweight who can’t string two sentences together without his teleprompter and she’s chock-full of common sense. It’s pretty simple.

John Mackey, CEO of Whole Foods, has pissed off his liberal/hippie customer base with his common sense position on healthcare reform. Maybe he’ll wake some of them up.

It is good to see people getting pissed off and showing up at town halls to question their congressional overlords. Are they getting the message? Doubtful, but it certainly can’t hurt.

The left is up to their usual Alinsky-inspired tricks. All the while, Axelrod and his bitches are getting richer.

They’re showing up at rallies posing as racists to incite trouble and make the crowd look stupid.

They’re posing as right-wing nutjobs online to make threats and discredit actual conservatives.

They’re following the Obamessiah’s urgings and “getting in the faces” of those who dare disagree with the chosen one’s socialist agenda.

They’re pretending to be medical doctors in support of Obamacare, when they’re actually Obama organizers.

Dan’s got all the astro-turfers here.

Conservatives need to understand that these people are liars, theives and socialists. They’ll fight as dirty as they need to to acheive their goals. It’s time we quit acting like a bunch of pussies and get in the game.

Speaking of liars and theives, the crooks on Wall Street and in DC are still stealing from the taxpayers and our banking system is growing more insolvent by the quarter.

Are you sick of getting financially raped yet?

The only reason we have any “resemblance” of a functioning credit system at all at the present time is that the government and Fed are pumping upwards of $250 billion dollars a quarter – that is, $1 trillion a year – into the system to subsidize bad credit risks and keep those who have been and are getting screwed by these frauds – so long as they’re other banks and businesses – from having to bear the cost of these acts.

Instead of locking up the bank robbers (who wear a $3,000 suit instead of a kevlar vest and a gun) we are covering their theft with taxpayer money.

Instead of removing the embezzlement from the system and forcing fraud into the open, we are sweeping it under the rug.

Instead of demanding that people do business honestly and punishing those that refuse, we are allowing them $100 million dollar bonuses – after they run the price of your Granny’s Heating Oil up once again.

Tired of it yet?

You need to read every bit of that one.

If you believe the hucksters who are telling you we’re on the front end of the next bull market, then you probably believed all of the Obamessiah’s false promises and fraudulent “bipartisanship”.

This economic crisis is going to get worse before it gets better, and we’re not talking months.

The FDIC is out of money, which may explain why the second-largest bank in Texas, Guaranty Bank, has not yet been shut down. Late last month, Guaranty reported to the SEC that it is “critically under-capitalized” and that “it is probable… it will not be able to continue as a going concern.”

Sounds like a problem, yet the FDIC hasn’t shuttered it and the 150 other banks like Guaranty — because it just doesn’t have the money. Even with the one-time surcharge funds arriving on 9/30, Martenson anticipates that bonus will only last the FDIC another two or three months.

Even more troubling: banks’ assets, as distressed as they are, have been dramatically inflated by “mark-to-fantasy” accounting wizardry. That means the FDIC’s real losses will be larger in real life than they appear in the rear-view mirror. Furthermore, the much smaller S&L crisis that began in 1980 took eight years to peak and another four years to completely unwind.

There is a bright side to all this doom and gloom. Americans are waking up to the fact that Obama is an empty suit and a socialist puppet, whose strings are being pulled by Rahm Emanuel, George Soros, David Axelrod and our First Lady, Thunderthighs. His approval ratings are going through the floor.

Also, more and more Americans are realizing that they believe in things like the Constitution, Capitalism and Conservatism.

So things ain’t all bad.

Enjoying The Rape Yet?

July 21st, 2009 at 11:12 am by Preston Taylor Holmes

Should we Audit the Fed yet or just burn it down?

In the shadows of his Healthscare disaster, Dear Leader and his henchmen are trying to hide their budget numbers so that you will have no clue as to what’s really going on – not that you’re paying attention anyway, are you?

WASHINGTON (AAAP) – The White House is being forced to acknowledge the wide gap between its once-upbeat predictions about the economy and today’s bleak landscape.

The administration’s annual midsummer budget update is sure to show higher deficits and unemployment and slower growth than projected in President Barack Obama’s budget in February and update in May, and that could complicate his efforts to get his signature health care and global-warming proposals through Congress.

The release of the update—usually scheduled for mid-July—has been put off until the middle of next month, giving rise to speculation the White House is delaying the bad news at least until Congress leaves town Aug. 7 on its summer recess.

The administration is pressing for votes before then on its $1 trillion health care initiative, which lawmakers are arguing over how to finance.

They would like to keep the truth of their catastrophic spending under wraps so that you won’t object too much when they throw a few trillion at Obamacare. These are the same crooks who are throwing $16 million at canned ham projects, $5 million at processed cheese, and $2.5 million for watered-down ham, among other shovel-ready crap.

Speaking of throwing your money down a rathole, head TARP watchdog Neil Barofsky says that the Fed is trying to cover up how TARP funds are being used and decried the Fed’s (predictable) lack of transparency.

Reporting from Washington — As the watchdog of the government’s massive bailout of the financial sector, Neil M. Barofsky had a simple question: What had the nation’s banks done with all their bailout money?

Can’t be answered, said the Treasury Department, because of the way banks move money internally. The department declined to put the question to the banks.

And so Barofsky started asking financial institutions himself, getting answers from more than 300 that had received federal bailout money and learning to what extent they had used the money to increase their lending, buy competitors or build their cash reserves.

The banking survey, and the refusal of Treasury officials to conduct it themselves, were revealed as Barofsky issued a stinging report Monday that complained of a lack of transparency in the Obama administration’s management of the giant financial services bailout program.

The report came as critics of the administration said that the White House has fallen short of its promises to run a more open government. Among other areas, the critics cite the president’s conduct of the healthcare debate, which has included closed-door White House meetings with powerful interest groups.

“You can’t ask the basic questions or have a debate about the fundamental policy questions without information,” Barofsky said in an interview.

Here, CNBC attacks Barofsky for daring to question the all-powerful wisdom of the Fed and its White House Crime Family overlords.


As Karl aptly notes…

Why would Mr. Barofsky tell the truth? Because that’s his job, damnit! His position exists to bring transparency to this process, rather than keep stuffing it all under the carpet and hoping that nobody notices that there is an elephant-sized lump in the middle of the floor!

The STOOGES on CNBC have made clear their intent this morning and left NOTHING to the imagination. Facts ARE CNBC, whether you like them or not, and this sort of blatantly-transparent attempt to cover up the facts and truth by smearing Barofsky is an outrage.

This table is on page 134 of the report – the entire report should be required reading for every American, so you can see exactly what sort of outright lying and financial fraud you’re being forced to support, despite your expressed opposition in September and October by a ratio of 100 to 300:1 as expressed by calls to Congress prior to the passage of the EESA/TARP.

If you can come to any conclusion other than the fact that this entire fiasco has been anything more than a blatant attempt to force the taxpayer to eat trillions of dollars of losses incurred due to imprudent and even fraudulent practices on Wall Street, you’ve got a VERY active imagination.

If you have a few hours, you can read the Tarp Report yourself.

We are being raped, folks, pure and simple. The elitists at the Fed, in the White House, in Congress and on Wall Street are watching their empire go up in flames, and they’re giving it to the middle class one last time. Long and hard.

Corker Still Clinging To Cap N Trade

June 24th, 2009 at 11:31 am by Preston Taylor Holmes

Like a polar bear floating around on its last little ice cube (awwww.. ain’t that cuuuuute), Tennessee Senator Bob Corker just can’t commit to a vote on cap-and-trade, the scam that the greenies are using to destroy the capitalist system once and for all.

Now that Nasty Pelosi and her minions have cobbled together a cohesive energy-based attack on our economy, it’s time to get serious about encouraging our Senators to grow some balls.

WASHINGTON — House Speaker Nancy Pelosi has scheduled a vote Friday on a sprawling climate-change bill, signaling the Democratic leadership’s confidence that it can overcome objections from Farm Belt Democrats.

Opponents and supporters of landmark climate legislation are ramping up their public-relations campaigns ahead of the planned vote. The Obama administration is pushing the measure as a job-creator, while critics, including many Republicans, are portraying the bill as an energy tax that could slow the economy.

A job creator? How is all that other job creation going?

Drew Hammill, a spokesman for Ms. Pelosi, said in an email late Monday evening: “There are some issues still under discussion, but we are confident we can resolve them by the time the bill goes to the floor on Friday.”

The bill aims to cap greenhouse-gas emissions at 17% of 2005 levels by 2020 and at roughly 80% by 2050, creating a market for companies to buy and sell the right to emit carbon dioxide and other gases. It also mandates a new renewable electricity standard and establishes new national building codes.

It would mark the first time that either of the two chambers of Congress have voted to impose mandatory reductions in greenhouse-gas emissions — a goal President Barack Obama wants to achieve before a round of international climate talks in December in Copenhagen.

Mr. Obama on Tuesday said the House climate bill is “extraordinarily important for our country,” urging House members “to come together and pass it.” The president said it would create millions of new “green” jobs that can’t be shipped overseas.

Green jobs? This is the biggest scam to come down the pike in a generation. If you want to know just how much of a scam, pick up Milloy’s book, Green Hell.

When I called Corker’s office earlier, I got the usual non-committal double-speak, which is not surprising given his history with the McShame gang-of-ten and their eco-nitwittery. At least Alexander and Representative Duncan would give me a firm “no” vote against any cap-and-trade bills. Oh well, that won’t stop me from calling.

Let your Senators know that they need to grow a pair and preserve what’s left of our economy.

You Gots To Spend Money To Make Money

May 12th, 2009 at 8:41 pm by Brian

Or you can not spend money and lose money. Just ask Chrysler:

DETROIT (AdAge.com) — Chrysler wanted to spend $134 million in advertising over the nine weeks it’s expected to be in bankruptcy — the U.S. Treasury’s auto-industry task force gave it half that.

When Obama starts believing that he is Auto Exec of the Year as he joked at the Limbaugh Lynching then their failure is completely on him. When you start telling car companies what kind of cars they can make, how much they’re allowed to advertise and how much they can charge for them then you should get fired when they collapse. Carry the same risk any other Exec does.

Any Lender knows that you’re going to shoulder the blame if you start telling your customer how to run their business. In a courtroom, you do not even want the appearance of having a hand in their business making decisions.

For a point of reference, Obama is telling Chrysler that they are only allowed to spend $67 million dollars in advertising while what was left of their image is being dragged through bankruptcy proceedings. $67 million is roughly 22% of what one Barack Obama spent advertising to become President when they’re trying to save their multi-billion dollar company, employees, shareholders, subsidiaries, etc. That 22% is quite generous too. $67 million is a much smaller percent of what Obama spent though it would be great to compare how much he spent in the last nine weeks of the campaign.

If I’m their competitor, my ad campaign starts today and ends with “Buy Your Car From A Company That’s Going To Be Around In 6 Months”. Otherwise, if you buy a car from the rats that took government money all you are doing is propping up the Union that overthrew the Board in a bloodless coup so the average dues paying member could make $75k a year and have three months of vacation to manufacture a car no one was buying in the first place.

I Like My Water Fountains Segregated, Thank You

May 12th, 2009 at 7:55 pm by Brian

Breitbart’s got the low down on a new “movement”. I’ll let you decide what kind of movement it is exactly:

Maggie and John Anderson of Chicago vowed four months ago that for one year, they would try to patronize only black-owned businesses. The “Empowerment Experiment” is the reason John had to suffer for hours with a stomach ache and Maggie no longer gets that brand-name lather when she washes her hair. A grocery trip is a 14-mile odyssey.

“We kind of enjoy the sacrifice because we get to make the point … but I am going without stuff and I am frustrated on a daily basis,” Maggie Anderson said. “It’s like, my people have been here 400 years and we don’t even have a Walgreens to show for it.”

But you do have a car to drive around in producing all those greenhouses gases to support a racist agenda.

Perhaps manufacturers can just start putting labels on all of their products, not unlike nutritional value, stating whether or not the product is offered by a “white company” or a “black company”. And what is a white company or a black company, anyway?

A white CEO? A black Chairman of the Board of Directors?

A 75% ratio? Only allow certain races to do certain jobs like working in the kitchen? Like the construction contractors who only hire illegal aliens for the grunt work yet never let them get that promotion that has them in a tie, in the air-conditioning and playing on the internet all day like they do?

Should all officers of the company only be one race and you should be disqualified for the position for fear of potential customers boycotting your product if they knew the awful, diverse truth?

I know there’s a name or a court case saying something about those types of practices somewhere but I can’t put my finger on it. But I attended a college with a black president so, of course, I never learned it anyway.

“We have the real power to do something, to use the money we spend every day to solve our problems,” Maggie Anderson said recently at a meet-and-greet in Atlanta. “We have to believe that black businesses are just as good as everybody else’s.

That is exactly right except opposite. This entire experiment is an exercise in believing that black businesses are better than everyone else’s and that’s why you only want to support them.

Dallas Smith, who owns a commercial real estate firm in Atlanta, said mainstream retailers have undervalued black consumers. He lives in a black neighborhood in southwest Atlanta, where he tries to dine at black restaurants. He lamented the lack of quality businesses catering to black customers and said blacks should appreciate such businesses more.

“We’ve still got that ‘the white man’s water is colder’ mentality,” he said.

the-definition-of-empowerment

How refreshing. The water’s colder when you make the decision to segregate by choice apparently.

I do have a question though. If I find out that a business that I like is black-owned should I immediately stop frequenting it or should I take the hint when they install separate bathrooms and water fountains?

Our New Envy-Based Economy

March 30th, 2009 at 10:23 am by Preston Taylor Holmes

Ron Hart provides the best definition I’ve seen yet of Credit Default Swaps.

Credit default swaps are nothing but off-track betting, where one company promises to back bond payments from another. This is like Mafia protection money, only with less transparency. Allowing the gamblers to default would have been fine for our country.

When clearly insolvent companies are propped up by the government, we have a fake economy. Distrust of this manipulated market makes the usual economic metrics unreliable and creates a dangerous business landscape. Private business owners, who risk their capital and make sensible decisions, are forced to compete with inefficiently run, yet politically connected, companies.

…Not to mention the most accurate description I’ve yet heard for our blessed elected officials.

The stimulus bill, written by Democrats, passed by Congress and signed by President Obama, included a provision for AIG to pay contractually obligated bonuses of less than .01 percent of its bailout money.

After the public reacted to AIG’s bonus plan, the thespians in Congress feigned outrage. If there is anything politicians do well, it is acting angry about something they did – followed closely by pointing fingers and sidestepping issues. Shucking and jiving round out the top five.

Elected officials are that rare breed of multi-taskers who can both cause a problem and be incensed by the results. As long as 51 percent of us are dumb enough to buy it, they stay in their gerrymandered and lobbyist-dominated offices.

RTWT.

More On The DeSantis Thing

March 26th, 2009 at 9:03 am by Preston Taylor Holmes

Karl D. says call the Waaaaahmbulance for Jake.

I simply do not accept that these traders had no knowledge of the actions of the AIG “financial products” people who created this mess, nor do I believe that their knowledge did not extend to the fact that AIG was engaging in these transactions on what amounted to a naked basis without either the capital to pay or an effective hedge.

Further, the firm gained the funds to promise and pay these bonuses over the years directly from the activity that proved to have generated false profits rather than real earnings.

That is, the money with which those bonuses were paid never really existed, but it sure was spent.

Whether this individual was personally involved in marketing and selling these financial destructive devices is not material. But for government support this person’s job would have ceased to exist in September. But for government support that job would not exist now.

More importantly, had this individual or any other many like him raised hell within the company and, had they not been heard, in public, this mess would have likely been aborted before it did the critical damage to our financial infrastructure that occurred and all that fake money that was handed out in bonuses wouldn’t have been.

In short, there is nothing that has been “lost” that was truly owed. The fruit of a poison tree is poisonous, irrespective of whether you personally watered the tree or not. If you ate it and didn’t die, you got off easy. Arguing that you should be able to obtain even more fruit, this time with an antidote provided prospectively, is an outrage.

I do not claim that this person had a duty to blow the whistle, as whether or not someone feels driven to do the right thing – that is, whether they are a moral person and exactly what moral means, is up to them. That’s a question that I will not presume to answer for someone else, although I know what my personal view of such transgressions in corporate America is, and I know that I personally will put my job on the line to stop abuses I believe are important – because I have.

No, my issue rests with playing the “whaaaaa” card when one does not raise the alarm, despite either actually knowing or constructive knowledge (that is, willful blindness) and then taking to the streets in this sort of fashion to whine, cry and complain.

Something rubbed me the wrong way about the editorial and Karl has helped me pinpoint it.

Desantis’ resignation op-ed is a good example of how producers are shrugging and will continue to shrug under this anti-Capitalist administration, but AIG as an organization deserves all the scorn that it gets.

The problem I see with this whole economic collapse is that you have corrupt financial institutions mixed with corrupt companies like AIG engaged in questionable practices directly under the nose of so-called regulators like Timmuh! In fact, Timmuh! was quite content to let it go on as head of the NY Treasury Dept. When everyone is getting rich, nobody complains! Just ask Rahm, who made $320K for a 14-month sleepover at Freddie Mac.

The left wants to blame the evil Capitalists, the right wants to blame the Federal Government. They’re both guilty and, pardon my Fronch, but they’re working in concert to fuck us in the nose. People need to understand that the corruption is systemic and realize that as long as the current laws are not enforced (and they show no signs of being enforced), the market is going to continue to tank and the Feds are going to continue to use this as an excuse to confiscate even more of our money and pass it on to corrupt entities that should be going out of business yesterday.

If there was still a regulatory entity out there that wasn’t on the take, then some of the corruption, naked shorting, CDS junk and pyramid scheme fraud might be getting rooted out and prosecuted. Do you see it happening? Yeah? Me, neither. People no longer trust the market, and with good reason.

Furthermore, that mistrust is not because socialism is the answer – FAR FROM IT – it’s because the Free Market has been poisoned by corruption on Wall Street and in Washington DC. Wall Street doesn’t care because they get their cash and Washington doesn’t care because they get their power, perks, payouts and pensions.

Capitalism is still the greatest economic engine ever known to man, when that engine is fueled by honest brokers.

On the flip side, you have some extremely dishonest brokers, such as George Soros, who is having a delightful crisis. Soros is greed personified and is one of the primary players behind President Hussein’s gaggle of confiscators.

A hedge fund manager who predicted the global credit crunch has said the financial crisis has been ’stimulating’ and the culmination of his life’s work.

George Soros, who predicted the global financial crisis twice before, was one of the few people to anticipate and prepare for the current economic collapse.

Mr Soros said his prediction meant he was better able to brace his Quantum investment fund against the gloabal storm.

And while the financial crisis continued to deepen across the globe, the 78-year-old still managed to make $1.1 billion last year.

‘It is, in a way, the culminating point of my life’s work,’ he told national newspaper The Australian.

I suppose intentionally bringing down the Dollar is now considered patriotic. Can’t wait to see that on a bumper sticker next to “Co-exist” on the back of a Yugo.

All these con-artists are doing is delaying the reality of us having to take our economic medicine. The more it’s delayed the more bitter it’s going to taste. Nothing is “too big to fail” – even our precious, benevolent Federal Government. In fact, they fail every day they convene for business. Who knew that when they said they were “doing the people’s business” that this would devolve into just “doing the people.”

Hedge Fund Gangstas

March 19th, 2009 at 10:16 pm by Preston Taylor Holmes

This is an excellent video that explains how the Bear Stearns and Lehman Brothers attacks (via an illegal practice called naked short selling) led to the collapse of the global economic house of cards. It’s long (23 mins) but it’s so worth it. I remember having this discussion with my dad last fall, who speculated that naked short selling would be an excellent vehicle for economic terrorism – we just had the wrong country.

This is all part of what Karl D refers to as The Bezzle. If you don’t prosecute the Wall Street criminals and force the market to play by the rules, there will be no confidence in the free market. There is already no confidence in the Federal Government. And for the love of all that is holy, we have an absolute rube playing Monopoly in the Treasury Dept.

The SEC has apparently come up empty handed in trying to find out who blew up Bear and Lehman – either that or they know and they’re scared shitless to do anything about it. Either way, they suck.


Hedge Funds and the Global Economic Meltdown from Judd Bagley on Vimeo.

Also check out the Deep Capture blog for even more dirty details. Yes, I know they mentioned Michael Moore, but try to look past that.

Thanks to Terry for posting the video.

Politics As Professional Wrestling

March 19th, 2009 at 4:38 pm by Preston Taylor Holmes

Anyone who has paid attention to the AIG circus for the past few days and has believed the faux outrage from the lying bastards in congress must have been Obamessiah voters. It takes a certain level of frothing class-envy and naiveté to believe that any of what has gone on is (1) authentic or (2) useful.

This afternoon the U.S. House decided (once again) to throw out the U.S. Constitution and tax executive bonuses at a 90% rate for companies who receive government bailout blood money. Government money? Government control.

WASHINGTON (AP)—Democrats pressed for quick action Thursday on a bill to slap punishing taxes on big employee bonuses from firms bailed out by taxpayers. Republicans called it a legally questionable ploy to paper over Obama administration missteps.

“The American people demand protection and that’s what we’re doing today,” said Rep. Charles Rangel, D-N.Y., chairman of the tax-writing House Ways and Means Committee.

But Minority Leader John Boehner, R-Ohio, called the bill “a political circus” diverting attention from why the administration hadn’t done more to block the bonuses before they were paid.

The bonuses, totaling $165 million, were paid to employees of troubled insurer American International Group over the weekend, including to traders in the unit that nearly brought about the company’s collapse.

The class warriors won this vote 328-93. Tennessee Congresswoman Marsha Blackburn was not among the Yes votes, fortunately.

President Hussein knew about these contractually-mandated bonuses way before he started to pretend to be outraged by them. Christopher Dodd ok’d the AIG bonuses weeks ago. They knew about this and have had this bullshit stunt planned ever since.

U.S. Sen. Christopher Dodd, already reeling in public opinion polls, suffered another political blow Wednesday with the admission that he had been involved in key legislative changes that helped pave the way for AIG to pay controversial bonuses to its employees.

In a retreat from earlier statements, Dodd said Wednesday that U.S. Treasury Department officials had approached him last month, urging him to modify an amendment to the federal stimulus bill that capped bonuses for executives at companies receiving aid.

On Tuesday, Dodd said that he was not a member of the conference committee that crafted the final compromise bill and said that the exception had not been in the bill as he drafted it.

It’s always the same game with these assholes. Work in conjunction with the leftist media to create an enemy that the idiotic, half-awake American public can hate and blame for their economic circumstance – rooted heavily in class-envy and hate-the-rich rhetoric. The over-the-top news coverage will feature stories of the anger on the street about those greedy white collar criminals so that you will know it’s okay to be angry too. Then you can watch sanctimonious congressbastards grandstand and beat up a CEO while you cheer them on in an envy-fueled and moronic rage.

Continuing with the professional wrestling angle, how can you not be amused when Congress puts Edward Liddy in charge of AIG, then brings him back to Congress so they can yell at him. The whole thing is a joke and the joke is on us.

Then, on top of everything, this circus is being run by Barney Frank (who is one of the primary reasons we’re moving towards a full-on economic depression), who self-righteously demands to know the names of the individuals receiving bonuses so America’s Dim-O-Crack-voting mental patients will know where to focus their homicidal anger and death threats.

I demand the names of all the boy toys who came by the Frank estate to have their rumps pumped while his “roommate” was running the male prostitution ring out of his basement. Tit for tat? Poor choice of words.

The hypocrisy of Congress attacking any private industry executives for their “Arrogance, Incompetence and Greed” is so enormously high that it cannot even be measured by the best scientists Nasa has to offer. There is no group more Arrogant, Incompetent or Greedy than the Federal Government – from the Communists in the White House to the boob at the Treasury Department to the Cowards in the Senate to the Crooks in the House.

Yes, there are a handful of quality Constitutionalists in Washington, but they are VASTLY outnumbered.

The whole bullshit act is meant to distract you while they continue pushing the rest of their Marxist agenda in the background. Don’t buy it. Stay focused on the stammering, conniving Alinskyite behind the curtain.

MORE: AIG Kabuki Theater.

EVEN MORE: With the notable exception of Blackburn (who, mysteriously, being female, has more balls than the rest of the TN House Delegation combined), the Tennessee House delegation failed miserably today.

Jimmy Duncan is usually a solid vote – I guess he wanted to get in on the tax money confiscation while he had a big group to hide behind.

And Zach Wamp, who was kind enough to meet with some of us bloggers this past Monday night, demonstrated that his testes may have not yet descended. This is a disappointment.

This is why so many of us are ready to get out of the GOP. We have a one party system, like it or not.

MORE YET AGAIN: Krumm reminds us why we had a Constitution to begin with. I emphasize the “had” since our “leaders” have apparently never read it, opting instead for Alice Walker’s The Color Purple.

The New Hope and Change Economy

February 23rd, 2009 at 5:14 pm by Preston Taylor Holmes

Who knew that when the Obamessiah and his zombie followers chanted CHAAAAAANGE… CHAAAAAAAANGE that he meant that he’d take us back to DOW 3000?

Yeah, it’s not there yet, but this column at Investors Business Daily outlines exactly why we’re headed in a downward spiral that isn’t about to stop. President Hussein’s “stimulus” package has only made it worse – much worse.

Today, as the market continues to sell off and we plumb 12-year lows, we wish we had a different explanation. But it still looks, as we said four months ago, “like the U.S., which built the mightiest, most prosperous economy the world has ever known, is about to turn its back on the free-enterprise system that made it all possible.”

How else would you explain all that’s happened in a few short weeks? How else would you expect the stock market, where millions cast daily votes and which is still the best indicator of what the future holds, to act when:

• Newsweek, a prominent national newsweekly, blares from its cover “We Are All Socialists Now,” without a hint of recognition that socialism in its various forms has been repudiated by history — as communism’s collapse in the USSR, Eastern Europe and China attest.

Even so, a $787 billion “stimulus,” along with a $700 billion bank bailout, $75 billion to refinance bad mortgages, $50 billion for the automakers, and as much as $2 trillion in loans from the Fed and the Treasury are hardly confidence-builders for our free-enterprise system.

• Talk of “nationalizing” U.S.’ troubled major banks comes not just from tarnished Democratic Sen. Chris Dodd, chairman of the Senate Finance Committee, but also from Republicans like Sen. Lindsey Graham of South Carolina and former Fed chief Alan Greenspan.

To be sure, bank shares have plunged along with home prices, and many have inadequate capital. But is nationalization really the only solution for an industry whose main product — loans to consumers and businesses — has expanded by over 5% annually so far this year?

• A stimulus bill laden with huge amounts of spending on pork and special interests is the best our Congress can come up with to get the economy back on track. Economists broadly agree that the legislation has little stimulative power, and in fact will be a drag on economic growth for years to come.

The failure to include any meaningful tax cuts for either individuals or small businesses, the true stimulators of job growth, while throwing hundreds of billions of dollars at profligate state governments and programs — such as $4.2 billion for “neighborhood stabilization activities” and $740 million to help viewers switch from analog to digital TV— has investors shaking their heads.

As always read the whole thing. The chart speaks for itself. Granted, it all started with President Junior’s Stimulus I and Stimulus II bills, but having the most anti-free-market President in the history of the country has cemented the deal.