The Russians worked hard for this disaster, let them enjoy it
Russia is having as much fun as it can stand and it couldn’t happen to a nicer fascist kleptocracy. As it stands today the ruble is in a virtual freefall. And unlike the limited sanctions imposed by the West after Russia’s Ron-Paul sanctioned stripping of Crimea from Ukraine and its slow motion invasion of that nation, this is hitting the average Russian in a significant | Read More »
A short story: The ulterior motives of a President!
A short story: The ulterior motives of a President! The premise of this story written by Wayne Allyn Root is that President Obama is crazy like a fox possessing an agenda for the United States that, if successful, would spell the end to life as we know it. It was originally published in 2010 but is incredibly relevant now on individual mandate day at the | Read More »
Comedy video: Robert Reich on the US with a B+ credit rating! Funny until…
Robert Reich, former Secretary of Labor, explains the potential impact to the country of each U.S. credit rating downgrade to a final rating of B+! This is an amusing video until the end when uber-liberal and former Labor Secretary Robert Reich takes it in the wrong direction by stating that the only way out of our economic and fiscal crisis is for the federal government | Read More »
Obama Bows to Chinese Premier AND President – UPDATED: Where Will President Obama Bow Next? And Why?
UPDATED: President Obama met China’s Premier, Wen Jiabao, on the Asian Apology Tour. As I predicted, President Obama bowed again, this time in a country in which bowing is considered an outdated custom indicative of a servile position at odds with the “social equality” that is part of the Communist philosophy. At a “Town Hall” style meeting the Chinese government set up for him in | Read More »
Adam Smith Lies to Obama; Result: Misery for Millions
Admittedly, it was an inadvertent lie. Perhaps Adam Smith’s publisher made him do it with an eye toward spurring sales of his book, popularly titled ‘The Wealth of Nations’. Had Obama been aware of the full title of the book, An Inquiry into the Nature and Causes of the Wealth of Nations, perhaps he could have penetrated the ‘lie’, but perhaps not. Obama has already established | Read More »
Dodd Paved Path to Financial Crisis
Today it was revealed that the moral hazard which led to the financial crisis was created by none other than Senator Chris Dodd. In the early 1990’s the Democrat from Connecticut authored a bill which removed a ban on financial speculation using loans from the Federal Reserve. On the day before Thanksgiving in 1991, the U.S. Senate voted to vastly expand the emergency powers of | Read More »
Barack Obama: He’s No George W. Bush
Part of the George W. Bush legacy was his tremendous leadership following 9/11. Following the worst terrorist attack in our nation’s history, President Bush united the nation, responded decisively, and sounded a calming tone that told every American – Republicans, Democrats, and Independents alike – “we’re going to be okay.” And we were. To date, there has not been another attack on our soil. Perhaps President Obama | Read More »
Portrait of a Failed President
Many had great hopes for this man, that he was going to be a leader; make intelligent informed decisions and lead this country as it should be led. I am not one of those, although there a millions who still think that way. A statement made today by this leader of the most powerful nation in the world has only confirmed my suspicions about is | Read More »
Derivatives and human hubris.
Learning of the kinds of exotic instruments used by Wall Street in the years before the crash can be a mind-boggling experience. First, of course, because of the complexity of these things; but also because of the staggering sums of “paper wealth” they produced. AIG and other firms sold credit default swaps in such massive numbers that there was at one point insurance on over | Read More »
Obama’s First Distraction
As President-elect Obama is beginning to dig in to real work of a President, he experienced his first real shot of political humility today. While many Obama fans moved quickly to claim their certainty about the former-Illinois Senator’s involvement with Governor Blagojevich’s attempts to sell the vacant Senate seat, this event has increased the level of uncertainty about Mr. Obama’s true ability to lead the | Read More »
Is Bureaucracy the Right Prescription?
This afternoon on Bloomberg Radio, Charlie Stein talked with Laurence Kotlikoff, professor at Boston University and President of Economic Security Planning Inc. The discussion was primarily framed around an article that Dr. Kotlikoff penned for Bloomberg yesterday, where he introduces his recommendation for a medium-term solution to ensuring “safe” assets make it to the markets, rather than the toxic ones that have gotten us where | Read More »
Folding the TARP: Analysis of Treasury’s Changes to the Plan
Clearly the market isn’t too excited about Hank Paulson’s announcement from this morning that they will be changing the direction of how the funds under the TARP will be used. No shocker there, right? As you can see by the big bold headline from the Financial Times’, the US Dep’t of Treasury has decided to not use TARP funds to purchase toxic assets. Instead, the | Read More »
Porn Industry Desperately Needs Bailout
I have just been informed in an early breaking news story that the porn industry is in desperate need of a government bailout. This truly is a sad story, as the dilema remains; does the government throw millions of dollars with no restrictions or let all those hundreds of men and women who have given their life (and very important body parts) to the industry | Read More »
A butterfly effect, a small butterfly flutters it’s tiny wings and the small buff grows and develops over time into a huge hurricane.
Thanks For The Bailout Guys!
I was up on the fence on how I felt about the bailout plan. My thoughts were a)$700 bilions???? b)give the power to “fix” this to the same idiots that got us into this mess and c)there has got to be a better plan.