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Thursday, March 26, 2009

Barack Obama and Timothy Geithner Worry Czech Leader and EU President


"All of these steps, their combination and their permanency is a way to hell. We need to read the history books." -Outgoing Czech Prime Minister Mirek Topolanek, on Barack Obama's plans.


Europeans recognize entrenched bureaucracy when they see it, and former Soviet captive states appreciate the danger of the heavy hand of government. So we have a resigning Czech president warning about the dangerous passage that Barack Obama is steering. 

Obama has yet to achieve "ninety day wonder" status and he is planning spending and programs that will certainly bankrupt the US. Many in the world recognize the calamity in the making.

It is true that Obama is barely in office for sixty days and his influence over the antecedent events has been minimal, but it is the direction and audacity of Obama's plans that is giving a growing number of people concern. Hopefully his overreach will be greater than his grip.

_______________

EU presidency blasts US recovery plans

STRASBOURG , AFP — The European Union's Czech presidency blasted US plans to spend hundreds of billions of dollars to revive its economy as a "way to hell", before downplaying the remark to avert a diplomatic crisis.

Outgoing Czech Prime Minister Mirek Topolanek told lawmakers at the European Parliament in Strasbourg that "the United States is not on the right path" with its costly plans to jump start the world's biggest economy.

"All of these steps, their combination and their permanency is a way to hell. We need to read the history books," he said.

Czech Vice Prime Minister Alexandr Vondra later sought to play down the comment, denying before journalists at a news conference at the parliament that Topolanek made the "hell" remark.

An AFP check of the original recording found that Topolanek did indeed make the comment.

Topolanek is seen at home as being deeply conservative on economic issues and has long opposed state intervention in the economy. He is due in any case to submit his resignation to President Vaclav Klaus later this week after his government was narrowly defeated in a no confidence vote on Tuesday.

The incident cast a shadow over transatlantic economic relations just days ahead of a key G20 summit in London on April 2 where leaders from the biggest economic powers are supposed to tackle the global crisis.

It also comes ahead of a summit between EU leaders and US President Barack Obama in Prague.

The opportunity to host the US president was supposed to be the crowning moment of the Czech Republic's EU presidency, which has been overshadowed by the collapse of the government and marked by Klaus's open hostility to the EU.

Concern has been expressed over the effect of a political vacuum at the head of the EU at a time of major crisis.
The White House shrugged off Topolanek's comments as being for domestic consumption.

"From what I can tell, the speaker has some domestic political problems that might speak more to what he was talking about," said White House spokesman Robert Gibbs in Washington.

Officials said that Obama would go ahead with the Prague visit on April 4 and 5, despite the government's fall
"The president considers his first meeting with the European Union to be an important opportunity to discuss transatlantic cooperation on a broad range of issues," said national security council spokesman Mike Hammer in Washington.

EU leaders have repeatedly resisted calls to spend more to revive their economies from not only top US and IMF officials but also their increasingly worried publics.

"Timothy Geithner, the American treasury secretary, has spoken of permanent action, which worried us" during the EU summit last week, said Topolanek.

"He spoke of a stimulus campaign in the United States but I don't think that (such) a 'permanent' solution is a real solution," he added.

The "biggest success" of the recent EU summit was "the refusal to go down that path," Topolanek said.

"The United States are going to need cash to finance the measures they plan on taking and they'll do it by selling bonds," he said. "Is that going to bring back stability to the markets?"

Washington is spending hundreds of billions of dollars to support its banking system and stimulate growth as it tries to drag the economy out of its deepest recession in decades.

Meanwhile, the 27-nation European Union has committed to economic stimulus measures in 2009 and 2010 worth 400 billion euros (540 billion dollars), equivalent to 3.3 percent of the bloc's gross domestic product.

The figure includes both national and EU level stimulus measures as well as automatic increases in social spending, such as unemployment benefits, which kick in when the economy weakens.



160 comments:

  1. Mr Obama's and his Team have a different series of goals and priorities than does Mirek Topolanek.

    Totally different sets of responsibilities and chains of accountability.

    The head of the EU should concern himself with the collapse of the Eastern European members economies, not Health Insurance and other policy debates in the United States.

    Little wonder he lost the election at home. He was not tending his own fields, being envious of ours.

    ReplyDelete
  2. While the Dow Jone Industrial average closed up
    @ 7749.81, +89.60‎ (1.17%‎)

    From 7949 on Inauguration Day the current Obama Rally brings the Dow back from a low of 6547 on 9Mar09.

    13028 on 19May08 was the high point of the Bush Boom, the dollar doubling in value against the basket of Dow Industrials in the 10 months since then.

    While our Charlie Chicom partners want to expand the SDR currency basket that the IMF maintains. The US is open to discussions of an evolutionary migration.

    Mr. Geithner said that the “evolution of the dollar’s role in the system depends really primarily on how effective we are in the United States in getting not just recovery back on track, our financial system repaired, but we get our fiscal position back to the point where people will judge it as sustainable over time.”
    ...

    ReplyDelete
  3. westhawk touchs upon a more pressing problem, one more of more immediate concern than the opinion of a EU politician that lost the last election.

    Los Zetas target their former comrades

    Grayson then lists six objectives Los Zetas seek to accomplish through the assassination of military officers:

    1) Show that no one is beyond their reach,

    2) Intimidate the civilian population,

    3) Separate the civilian population from legitimate government institutions,

    4) Encourage more desertions from the army to the cartels,

    5) Encourage an over-reaction and human rights violations by the government against the civilian population,

    6) Spark friction between the military’s officer corps and civilian government leaders.


    If this reminds readers of Iraq between 2003 and 2006, South Vietnam between 1958 and 1966, or the initial stages of just about any other modern insurgency, we should not be surprised. As I have discussed in previous essays on Mexico (such as here and here), the cartels and their enforcers are quickly discovering the utility of political action and its importance now in helping them achieve their goals. The cartels may have preferred to remain underground commercial enterprises. But pressure from the government has forced them into the political arena. Mexico’s crime problem has thus turned into a war.

    The mortal danger for Mexico is what will happen to the state should the cartels suborn the army as effectively as they have suborned the police. President Calderon has sent in the army to fight the cartels. But what if the army fails? What will the Mexican government do then?

    ReplyDelete
  4. This should be very disturbing to everyone, even if you think the cases are non-sense.

    'Homeland Security', Sheriff's Office, Local Cops Shadow Eligibility Lawyer

    Let us ask Ash, who used to complain about the civil rights being violated all across the nation by the Bush Administration, just what he thinks of this.

    I think we got a budding totalitarian movement going in the country, the beginnings of one.

    ReplyDelete
  5. In the news today:

    SYDNEY — Australia Prime Minister Kevin Rudd has urged Americans not to view China as an enemy but as a country offering huge economic opportunities, even though its leaders have "done some bad things in the past."

    I tend to agree.

    Also:
    MEXICO CITY — U.S. Secretary of State Hillary Rodham Clinton on Wednesday pledged to stand with Mexico in its violent struggle against drug cartels and admitted that Americans' "insatiable" appetite for illegal narcotics and their inability to control weapons smuggling was partly to blame.

    I knew this was coming. Because we can do nothing about the demand for drugs, we must do something about the supply of weapons.

    Watch for the Brady bunch.

    ReplyDelete
  6. ....even though its leaders have "done some bad things in the past.

    Oh, naughty Chairman Mao! Bad naughty Great Leap Forward with 20 million dead!

    ReplyDelete
  7. Obama’s bank plan could rob the taxpayer
    By Jeffrey Sachs, Financial Times

    Published: March 25 2009 23:14 | Last updated: March 25 2009 23:14

    The Geithner-Summers plan, officially called the public/private investment programme, is a thinly veiled attempt to transfer up to hundreds of billions of dollars of US taxpayer funds to the commercial banks, by buying toxic assets from the banks at far above their market value. It is dressed up as a market transaction but that is a fig-leaf, since the government will put in 90 per cent or more of the funds and the “price discovery” process is not genuine. It is no surprise that stock market capitalisation of the banks has risen about 50 per cent from the lows of two weeks ago. Taxpayers are the losers, even as they stand on the sidelines cheering the rise of the stock market. It is their money fuelling the rally, yet the banks are the beneficiaries.

    The plan’s essence is to use government off-budget money to overpay for banks’ toxic assets, perhaps by a factor of two or more. This is done by creating a one-way bet for private-sector bidders for the toxic assets, then cynically calling it “private sector price discovery”. Consider a simple example: a toxic asset with face value of $1m pays off fully with probability of 20 per cent and pays off $200,000 with probability of 80 per cent. A risk-neutral investor would pay $360,000 for this asset.

    ReplyDelete
  8. rufus said...
    There's no chance on God's Green Earth that any politician could "Sell" any sort of shared currency to the American people, Rat.

    Mexico in a rapidly escalating state of Drug-Induced Anarchy, and we're going to "Join" them in an "Amero?" Sheeeit No.
    ---
    When was the last time those now in power gave a DAMN about what the Sheeple want?

    ReplyDelete
  9. 2164th said...

    "I didn't say I agreed with a thing he said. I observed that the man is not a stumbler without his tele-prompter. Underestimating your adversaries just may put you on the mat."
    ---
    You didn't answer my question about the equivalency of a Big Screen TV.

    ReplyDelete
  10. - She's Not There -

    A girl came skipping home from school one day. “Mommy, Mommy,”
    she yelled, “we were counting today, and all the other kids could only
    count to four, but I counted to 10. See? 1, 2, 3, 4, 5, 6, 7, 8, 9,
    10!”

    “Very good,” said her mother.

    “Is it because I’m blonde?” the girl said.

    “Yes, it’s because you’re blonde,” said the mommy.

    The next day the girl came skipping home from school. “Mommy,
    Mommy,” she yelled, “we were saying the alphabet today, and all the
    other kids could only say it to D, but I said it to G. See? A, B, C, D, E, F, G!”

    “Very good,” said her mother.

    “Is it because I’m blonde, Mommy?”

    “Yes, it’s because you’re blonde.”

    The next day the girl came skipping home from school. “Mommy,
    Mommy,” she yelled, “we were in gym class today, and when we showered,
    all the other girls had flat chests, but I have these!” And she
    lifted her tank top to reveal a fully developed chest.

    “Very good,” said her embarrassed mother.

    “Is it because I’m blonde, mommy?”

    “No Honey, it’s because you’re 24.”

    - Larsen

    ReplyDelete
  11. Nor Easter via La La Land enlightens San Luis Obispo:

    YouTube - SLOVoyeur's Channel

    ReplyDelete
  12. "While the Dow Jone Industrial average closed up
    @ 7749.81, +89.60‎ (1.17%‎)

    From 7949 on Inauguration Day the current Obama Rally brings the Dow back from a low of 6547 on 9Mar09.
    "
    ---
    Quick, 'Rat!
    Last chance to buy low into a Bear Market Rally!

    ReplyDelete
  13. Retest of DOW 6000 coming soon to a theater near all of us.

    ReplyDelete
  14. On the big screen video; he used that for opening comments, I assume. I was commenting about the questions and answers. I doubt they were flashing answers to him or were they? Were they using that as a reminder prompt?

    ReplyDelete
  15. "I think we got a budding totalitarian movement going in the country, the beginnings of one."
    ---
    SOMEBODY's gotta protect us from them Ron Paul Voters, Gun Owners, and Constitutionalist Homophobics like Scalia!

    ReplyDelete
  16. " I doubt they were flashing answers to him or were they? Were they using that as a reminder prompt?"
    ---
    Doubt if you must:
    Only Axelrod knows.
    ...and the press, and they're not tellin on their man.

    ---
    Which brings up the point:
    How many searing, soul-freezing questions were asked by the "adversarial press?"

    ReplyDelete
  17. "I don't want to anger the teleprompter here. Teleprompter's job's tough enough. Teleprompter is the Teleprompter of the United States, for crying out loud. But when that teleprompter -- I've used 'em, and when they're right below the camera lens, you don't look left or right, you look theoretically right down the camera eye, the lens of the camera. You can tell when somebody's reading the words. You can tell by looking at their eyes.

    If you TiVoed this thing last night, take a look, the opening statement. You can see the eyes get locked straight ahead even when the head moves left and right, you can see it, even just the tiniest movements left and right, the eyes never move or very seldom move, and if the speed of the prompter is jerky and herky, you can see the interruption in the rhythm. I have to tell you, this teleprompter, I love this teleprompter, this teleprompter will not be denied, and this teleprompter puts Obama through his paces, and the teleprompter won last night. The teleprompter won, Obama couldn't keep up with the prompter, even on that giant screen right there. They're very thin skinned up there. Teleprompter though, has been dissed, everybody saying he wasn't there. He most certainly was, front and center.
    "

    - Limbaugh

    ReplyDelete
  18. Hurtful Words and Point of Clarification

    I was having breakfast in the Commissary this morning, and I overheard some of the Advance team talking about last night's performance. They were impressed that Big Guy was able to say so many sentences without a "real" teleprompter. I had to run out of the room so that no one could see the tears running down my screens. Sorry ... it's been a tough week.

    You see, the Obamatron is me. It's kind of like Cinderella and Gibbsy is my Fairy Godmother who waves his magic wand and I go from two small screens to one, slick screen. Well not really, they just plugged my cables into a 52-inch flat screen, instead of the mini-LCDs that sit on the floor. Same words, just a different package. And a bigger package. But I digress.

    I'm a computer after all, and when people can't see past the gloss and the smooth lines, and thin brackets and sleek screens, not bothering to see the real me, the real guts, it hurts. I have a brain people.

    This is the best way to look at it: my LCD component is to Big Boy, what the sleeveless dress is to Michelle.

    ReplyDelete
  19. C'mon, somebody has to be a little worried that Homeland Security is dogging one of the eligibility lawyers. Anybody?

    ReplyDelete
  20. A Little Less In Your Stocking

    Yesterday, Big O appointed perhaps the greatest tax-policy review panel in the history of tax-policy review panels.Publicly, we're saying this is OMB chief Pete Orszag's idea, but everyone here knows that it was the Big Guy's brainstorm, because Big Guy's hobby is tax policy.

    The plan is for this panel to come up with a plan to "rebalance" the U.S. tax system, and to end "corporate welfare" as we know it. By "rebalance" we mean "raise taxes," and by "end corporate welfare" we mean "create new taxes."

    The plan is due on Big Guy's desk by December 4, a nice early Christmas present for America.
    Posted by TOTUS at

    ReplyDelete
  21. Didja miss my 08:58:00 AM, al-Bob?

    ReplyDelete
  22. N. Korea defends right to 'explore space' amid missile claim

    any explaination for this? rat?
    you did good job at explaining it with iran.

    ReplyDelete
  23. A post by Pat

    You think things are bad where you are? Look what's happening in Michigan. This state was once a great manufacturing center. The car capital of the world. And now? The Michigan economy has gotten so bad machinery is turning to prostitution to make a living.


    Man gets 90 days in jail in vacuum sex act case


    A man who police said was arrested for performing a sex act with a car wash vacuum was sentenced to 90 days in jail on Wednesday and ordered to submit to drug testing. The 29-year-old man pleaded no contest to indecent exposure last month.

    Police said the man was arrested after a resident called officers early on Oct. 16 to report suspicious activity at a car wash in Thomas Township, about 90 miles northwest of Detroit.
    What next?
    Robots lurking around Fast Eddie's Quickie Oil Change?

    - Tammy Bruce

    ReplyDelete
  24. Slim,
    I think lil' Kim is going to tour Area 51 in order to enlighten the NorKor workers about alien life.

    al-Bob can fill in the details.

    ReplyDelete
  25. "SAGINAW, Mich. (AP) — A man who police said was arrested for performing a sex act with a car wash vacuum was sentenced to 90 days in jail on Wednesday and ordered to submit to drug testing. The 29-year-old man pleaded no contest to indecent exposure last month."
    ---
    Where is Google Street View, when we need it?

    ReplyDelete
  26. aw come on, the vacuum guy could have at least made a case that the vacuum was coming on to him. You know, he could have sounded all Sincere and hoped that people would think he actually thought that. kinda like testing long range missles but claiming its for outer space exploration.

    ReplyDelete
  27. "I think we got a budding totalitarian movement going in the country, the beginnings of one."

    Keeps the nutters busy and out of trouble - providing just enough suspicion to fill their idle time with a lot of casual paranoia. Removed from reality, they pose no threat. It's as good as institutionalization, but cheaper per head.

    ReplyDelete
  28. Those "toxic" assets are worth more than a lot of people think.

    1) They pay a very high rate of interest

    2) Most will actually "pay out."

    3) Even the "Repos" will be worth 60%, or so, of loan value.

    ReplyDelete
  29. Yeah, I did Doug, wasn't quite awake yet. The birds are chirping here each morning now. Spring's a comin'. Great cacaphony of joy. Have my window open a little through the night, they wake me up easy, when they get going in the morning.

    ReplyDelete
  30. Bugger a vacuum? That's sucks.



    Can an ordinary Joe invest in these toxic assets some way?

    ReplyDelete
  31. Keeps the nutters busy and out of trouble

    So says you, until you have three or four Homeland Security black rigs following you around.

    ReplyDelete
  32. North Korea is Area 51, and worse. No comedy relief even.

    ReplyDelete
  33. So says you, until you have three or four Homeland Security black rigs following you around.

    Thu Mar 26, 10:23:00 AM EDT

    But you see, bob, I AM the black rig. In a manner of speaking. Both the reality and figment of the imagination.

    ReplyDelete
  34. Can an ordinary Joe invest in these toxic assets some way?

    Yep, it's called, "Form 1040."

    ReplyDelete
  35. Can an ordinary Joe invest in these toxic assets some way?
    ==

    Heheh

    Rufus and these gov clowns are going to make you a zillionaire, and you don't even know it.

    ReplyDelete
  36. Paranoia is starting to strike deep, Trish---


    149. peterike:


    Let us begin with something that is true: that which must happen will happen.
    When you increase the money supply, ceteris paribus, the price of money must go down.

    If the great hyperinflation to come is entirely planned — because even a teenager like Obama must know it will happen — then why? Because it gives them the ultimate power over all wealth. Let the hyperinflation come, let a loaf of bread cost a million dollars. Then simply declare dollars are no long the currency of the United States, and starting tomorrow only new Barrack-Bucks are valid currency. Please bring your dollars to your local Bank of the US Government (the only bank in town) and exchange them at one-per-million. Oh and there’s a maximum limit of 10,000 new B-Bucks for everyone no matter how many dollars you bring with you (except certain persons deemed critical by the Party who can have all the B-Bucks they need because, well because they’re so critical).

    And there you have it, all wealth effectively confiscated and put into the hands of the Nomenklatura. Ration coupons will be distributed starting at 3 p.m. Please get in line.

    It’s continues to amaze me how it’s impossible to be TOO paranoid with this administration. Every time I ratchet up my worry, they justify it and then some.


    Or is it an insightful perception of reality?

    ReplyDelete
  37. When dad came back from Italy, he said, son, everybody's a millionaire there.
    Even the cat's are rich in Rome.

    Quess I've invested in toxic assets already, as I got my taxes done last week.

    ReplyDelete
  38. "I AM the black rig. In a manner of speaking. Both the reality and figment of the imagination"

    ooh look whose sounding nutty.
    we have nurse ratched on our hands here folks.

    ReplyDelete
  39. You can spend another zillion trying to sustain the unsustainable, it aint gonna work. Real estate prices are set as a function of what people can afford in rent. Prices are still double of where they need to be. Debasement of currency and inflation will not help things either.

    ReplyDelete
  40. Banks Buying Assets to Sell Through Gov't Programs... Does It Even Matter?

    FT Alphaville (via Zero Hedge):

    Shows Goldman's estimates for how banks are carrying assets like commercial mortgages and consumer loans on their books. According to the table, they're carrying those assets at ludicrously optimistic averages of between 89 per cent and 96 per cent of their original purchase price. Yeah. Right.

    That preposterous positivity has huge implications for Tim Geithner's toxic asset plan, or PPIP.

    The chart below details one such asset, commercial mortgages, are still priced at or near par, which I'll agree is a joke...

    .
    .

    http://econompicdata.blogspot.com/2009/03/banks-buying-assets-to-sell-through.html

    http://snipurl.com/elpzh

    ReplyDelete
  41. Paranoia is starting to strike deep, Trish---

    - bob

    Starting? Starting?! It's been a fixture of the American scene since before the Revolution. You can handily take fifteen percent of the populace at any given time and make a diagnosis of functional paranoia.

    The vast majority of Jerry Fletchers are guys and gals with day jobs, running the gamut from grocery clerk to chemical engineer to housewife, who have a compartment set aside for goofy. As the internet largely selects for goofy - driven by relentless cant - it's one big sanitarium, but without the therapeutic regime.

    ReplyDelete
  42. Max Keiser's Death of the Dollar. Aired on Aljazeera English in December 2006.

    http://www.youtube.com/watch?v=Iloh5jL-ujE

    ReplyDelete
  43. Banks carrying assets above value? Oh no, tell me it ain't so! No wonder why they hate M2M.

    ReplyDelete
  44. Well, slim ...
    The Hermit Kingdom is one strange place, no doubt of that.

    I'm not sure what you'd like explained, the NorKs desire to achieve orbit or the lack of concern that the US is showing, vis a vie Ms Billery's comment

    "We are doing our best to dissuade the North Koreans from going forward, because it is provocative action," Clinton said. "It raises questions about their compliance with the Security Council Resolution 1718. And if they persist and go forward, we will take it up in appropriate channels."

    Security Council Resolution 1718 is an interesting document, recalling, reaffirming and the expressing of demands with regards to NorK, it closes with these 3 points. Of which #17 brings the entire escapade into focus.

    15. Affirms that it shall keep DPRK’s actions under continuous review and that it shall be prepared to review the appropriateness of the measures contained in paragraph 8 above, including the strengthening, modification, suspension or lifting of the measures, as may be needed at that time in light of the DPRK’s compliance with the provisions of the resolution;

    16. Underlines that further decisions will be required, should additional measures be necessary;

    17. Decides to remain actively seized of the matter.


    We are siezed of the matter, and will take it up in appropriate channels.

    As to your lawyer being observed by Federal agents, bob, and having one of his associates pulled over for faulty brake lights.

    Happens all the time here in Maricopa County. One reason the Congress is investigating the practices of Sheriff Joe and his deputies.
    That brake light ploy is old as the hills.

    You should take comfort that the Federals are acting preemptively to validate that Mr Pidgeon is not a terrorist or an active enemy of the State.

    Just as we hope they are doing outside of that Islamoid village in New York.

    ReplyDelete
  45. "ooh look whose sounding nutty."

    That's rich, given the number and variety of conspiracies I've been casually associated with by the actually nutty over over the past twelve or so years.

    ReplyDelete
  46. Remember, bob, that the second most deadly terrorist attack in the United States also targeted a Federal facility ...

    Perpetrated by a right wing nut case conspiracy.

    One whose ideological precepts hold that the entire Federal government is illegitimate. These are folks that have already fired on the National Guard, so to speak.

    ReplyDelete
  47. P A R A N O I A, alBob,
    Trish tells us so.

    Expanded Americorps has an authoritarian feel
    By Examiner Editorial
    - 3/26/09

    With almost no public attention, both chambers of Congress in the past week advanced an alarming expansion of the Americorps national service plan, with the number of federally funded community service job increasing from 75,000 to 250,000 at a cost of $5.7 billion. Lurking behind the feel-good rhetoric spouted by the measure’s advocates is a bill that on closer inspection reveals multiple provisions that together create a strong odor of creepy authoritarianism. The House passed the measure overwhelmingly, while only 14 senators had the sense and courage to vote against it on a key procedural motion. Every legislator who either voted for this bill or didn’t vote at all has some serious explaining to do.

    Last summer, then-candidate Barack Obama threw civil liberties to the wind when he proposed “a civilian national security force that’s just as powerful, just as strong, just as well-funded” as the regular military. The expanded Americorps is not quite so disturbing, but a number of provisions in the bill raise serious concerns.

    To begin with, the legislation threatens the voluntary nature of Americorps by calling for consideration of “a workable, fair, and reasonable mandatory service requirement for all able young people.” It anticipates the possibility of requiring “all individuals in the United States” to perform such service – including elementary school students. The bill also summons up unsettling memories of World War II-era paramilitary groups by saying the new program should “combine the best practices of civilian service with the best aspects of military service,” while establishing “campuses” that serve as “operational headquarters,” complete with “superintendents” and “uniforms” for all participants. It allows for the elimination of all age restrictions in order to involve Americans at all stages of life. And it calls for creation of “a permanent cadre” in a “National Community Civilian Corps.”

    But that’s not all. The bill also calls for “youth engagement zones” in which “service learning” is “a mandatory part of the curriculum in all of the secondary schools served by the local educational agency.” This updated form of voluntary community service is also to be “integrated into the science, technology, engineering and mathematics curricula” at all levels of schooling. Sounds like a government curriculum for government approved “service learning,” which is nothing less than indoctrination. Now, ask yourself if congressmen who voted for this monstrosity had a clue what they were voting for. If not, they’re guilty of dereliction of duty. If yes, the implications are truly frightening.

    ReplyDelete
  48. I remember something like that being floated during Clinton I.

    ...or was that my musings into my toilet?

    ReplyDelete
  49. The NSA may have heard or read some inflamatory statement he made, on the phone or by e-mail, picked up by those warrentless wire taps that the NSA instigated on Team43s behave, as part of the Patriot Act, bob.

    All the tools of repression are already in place, you put your faith in the people in power, rather than in the Law.
    Now it's coming around to bite you in the ass.

    ReplyDelete
  50. Heheh:


    Victor wrote:
    Dear Trainwreck,

    I see this massive explosion once the "toxic" or "non-performing asset" is sold to the PPIF, they in turn sell it on the open market ie: disposal of the asset REO properties, it is showing on the banks books at $500,000 dollars on the property, but in reality the property is worth $200,000 dollars, someone has taken a $300,000 haircut somewhere, the barber just called the taxpayer up and said "it your time my friend" Look in reality if 15 million of these properties go back to the bank, at $100,000 loss(taxpayer)-
    conservative number =

    15 TRILLION DOLLARS

    which means multiple TARP's would pin this back to the taxpayer!

    I need to go get a drink now, and calm down!

    http://www.nypost.com/seven/03252009/business/double_dippers_161157.htm

    http://snipurl.com/els0s

    ReplyDelete
  51. ...or was that my musings into my toilet?
    ==

    It don't matter where. Just make sure you get Trish to decorate it.

    ReplyDelete
  52. No matter how you slice it,
    it's still a drain buster.

    ReplyDelete
  53. Looks like from that dance video posted months ago and sounds, from doug's paste, like a cross between summer and boot camp.

    Get a little discipline into these folks lifes, have you never seen Arnold's "Kindergarden Cop"? The proof of the tasting is right there, in that movie.

    Cut out the middle man, instead of using private charity to brighten the night with a thousand points of light, we'll just give lighters directly to the folks that need them.

    ReplyDelete
  54. P A R A N O I A, alBob,
    Trish tells us so.

    - Doug

    Yes, Doug. Paranoia. The freak show of the fever swamps.

    And in its own indispensable way, it keeps the center in business.

    THAT was the unappreciated gem of truth in Rat's take on the System.

    ReplyDelete
  55. Tell Victor paranoia's been around since day one.
    Trish assures me so.
    Per usual.

    ReplyDelete
  56. And what is wrong with uniforms, doug, for the children?

    The JROTC program at the local High School utilizes uniforms. Quite effectively, if I do say so myself.

    Why would you deny those culturally civilizing tools to those that need them the most?

    ReplyDelete
  57. Stephen Pidgeon is a part of that freak show.

    ReplyDelete
  58. Trish,
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    "Nothing is Real"
    Line.

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  59. Who, me Deny?
    That would be...
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    ReplyDelete
  60. WSJ: Obama Jazzed to Cut Charity Deductions
    2000-'04: He Gave Less Than 1% to Charity
    THR: Ratings: Obama Viewership Declines
    ---
    GD GOP gives to charity more than my sorry ass.
    Tax em!

    ReplyDelete
  61. Local news--

    CONGRESS PASSES WILDERNESS BILL

    AP-- A massive public lands bill that passed the U.S. House Wednesday designates 2 million acres of new wilderness areas in nine states including the first new wilderness area in Idaho in three decades.

    The Omnibus Public Lands Bill of 2009 is expected to be signed into law by President Barack Obama. It designates more than 500,000 acres in Idaho's Owyhee (rhymes with Hawaii) canyon lands in the southwest corner of the state as wilderness. The bill also released another 200,000 acres of land in Owyhee County designated as wilderness study area to multiple use.

    The Owyhee portion of the bill was more than eight years in the making and emerged from a collaborative process led by Idaho Senator Mike Crapo, R-Idaho. It represents the high water mark of Crapo's gospel of cooperation and collaboration as the best way to solve contentious public lands management issues.....


    The Owyhee Desert is really beautiful, I'm glad to see this bill. There are some really neat old abandoned mining towns down that way.

    Also--

    MOSCOW BILLBOARD WILL OFFER HUMANIST MESSAGE

    Sign Reaches Out To Those Who Don't Believe In God

    AP--Moscow--The American Humanist Association wants people to know there can be good without God.

    So the Washingon, D.C. based organization is posting billboards around the country that read "
    Don't Belive In God? You Are Not Alone." The latest one is scheduled to go up soon in Moscow.

    Karen Frantz, a spokeswoman for the group, said small-town Moscow joined the ranks of larger cities like Philadelphia and Charleston, S.C., because of it demographics.

    "It has a mix of progrressive and conservative people, it's a college town, and it has a mix of religious conservatives and religious liberals," Franz said. The billboard's message will be superimposed over an image of blue sky and white clouds, and will included the association's Web address and toll-free number....

    Franz said the ads are targeted at those who might not believe in God, but feel marginalized in a largely religious society.


    And--

    GREAT MISSOULA FLOODS INCLUDED IN LANDS BILL

    Washington--A wilderness bill approved by Congress on Wednesday also designates the Ica Age Floods National Geological Trail that stretches across the four Northwest states including areas of the Lewiston-Clarkston and Clearwater valleys.

    Known as the Great Missoula Floods, the rushing water inundated parts of the Northwest, carving out much of the landscape of present-day Idaho, Washington, and Oregon. The trail will include a network of marked touring routes accessible by car, beginning in Missoula, Montana, and ending at the mouth of the Columbia River in Washington and Oregon.

    The bill simply designates the concept of an Ice Age Floods National Geological Trail

    "There is no money there, it authorizes an appropriation but it doesn't appropriate money at this time. The next thing that has to happen is somehow an appropriation has to be pushed through Congress. That is a new battle" a spokesman said.


    My photo is of an area over by Grande Coulee Dam, where the waters rushed through, long ago. The dry cataracts continue some twenty five or thirty miles over the horizon. I have read these floods, from the breaking of the ice dam on Lake Missoula, as it is called I believe, happened not just once, but quite a few times. The dam would break, reform, lake fills, dam weakens, repeat.

    ReplyDelete
  62. "Remember, bob, that the second most deadly terrorist attack in the United States also targeted a Federal facility ...

    Perpetrated by a right wing nut case conspiracy."

    done by crazies on the right & blamed on the zionists by crazies on the left. it took the sane people to figure it out. who is playing Dr. Strangelove on here? I know who my pick is.

    ReplyDelete
  63. PAPER: Rahm Emanuel's Short FREDDIE MAC stay made him $320,000+...

    PAPER: FOREIGN FAILURES, NEW PREZ FLUNKING GLOBAL TESTS...

    EU leader condemns US 'road to hell'; Attack highlights growing rift...

    EU hustles to control damage after outburst...
    ---
    Though just 49, Emanuel is a veteran Democratic strategist and fundraiser who served three terms in the U.S. House after helping elect Mayor Richard Daley and former President Bill Clinton. The Freddie Mac money was a small piece of the $16 million he made in a three-year interlude as an investment banker a decade ago.

    In business as in politics, Emanuel has cultivated an aggressive, take-charge reputation that made him rich and propelled his rise to the front of the national stage. But buried deep in corporate and government documents on the Freddie Mac scandal is a little-known and very different story involving Emanuel...

    ReplyDelete
  64. Bob,

    Why don't you upload some of these to Flickr or Picasa, so we can view them at higher resolution.

    ReplyDelete
  65. What's wrong with armbands, insignias, a non-voluntary 'service' corps! It's the American Way!

    Thing is, I don't see how it's constitutional, not being related to the defense of the country from external threat, but hey, the constitution is a, what did George Will say, a 'situational constitution' now; it's a new night in America.

    I find the whole thing spooky as hell.

    Hopefully most of our youth have become so anti-authoritarian they'd decline this particular mandatory( The bill also calls for “youth engagement zones” in which “service learning” is “a mandatory part of the curriculum in all of the secondary schools served by the local educational agency”) invite.

    ReplyDelete
  66. Ok, Mat, I'll try to do that. Will take me some time to figure out how, and go through my pictures.

    ReplyDelete
  67. There will be "private sector" money involved in all purchases. They're not going to tie any money up if they don't think they can make a profit. This isn't a bunch of corruptocrats at "Fannie, and Freddie" giving away money.

    We'll probably make some money off all this. If not, I can't see us losing much.

    ReplyDelete
  68. We have made school madatory, bob.
    Mandatory service to the State has always been a power of the State.

    The Selective Service, aka "The Draft" dates back to the Civil War and beyond.

    The Republic would have been lost without Lincoln instituting a regime of mandatory service to the State.

    Today's societal breakdown, with only 50% of students graduating High School in some States is a National Emergency.

    RULE 11: "The price of a successful attack is a constructive alternative."
    Never let the enemy score points because you're caught without a solution to the problem.

    ReplyDelete
  69. Bob,
    You can download picasa here:

    http://picasa.google.com/

    ReplyDelete
  70. rufus said...
    There will be "private sector" money involved in all purchases. They're not going to tie any money up if they don't think they can make a profit. This isn't a bunch of corruptocrats at "Fannie, and Freddie" giving away money.

    We'll probably make some money off all this. If not, I can't see us losing much.
    ---
    THE DUMBEST MF COMMENT EVER!

    ReplyDelete
  71. also known as a 'bear market rally'. What does this tell US about the future of the economy?

    ReplyDelete
  72. The current version of the "Dead Cat Bounce" isn't all that applicable to the recent events. I've heard it characterized more as a dead cat falling down the stairs.

    rufus is such a sunny optimistic guy, gotta luv him! A word of caution - another market saw is that we've hit the bottom when virtually all the pundits have thrown in the towel - has that happened yet?

    ReplyDelete
  73. Two years ago when I posted the New Century Meltdown, Ruf Courageously predicted the Real Estate Fiasco would be a mere piddle in the pond.

    ReplyDelete
  74. Maybe Trish will label Ruf an inverse paranoid?

    ReplyDelete
  75. Obama is a fucking developmentally and academically induced Moron.

    ...but he sounds so CONFIDENT while emitting verbal shit.

    ReplyDelete
  76. Smart Meters will save the World and Create Jobs!

    ...we don't have enough electricians to fill all these jobs.

    We got a shortage of electricians.

    ...BHO

    ReplyDelete
  77. Two years ago when I posted the New Century Meltdown, Ruf Courageously predicted the Real Estate Fiasco would be a mere piddle in the pond.

    Oops?

    :)

    ReplyDelete
  78. We'll have "Positive" Growth in the 2nd Quarter.

    ReplyDelete
  79. California considers outlawing Black Cars to save Energy wasted on Air Conditioning.

    ReplyDelete
  80. As opposed to "Negative" Growth, you see.

    :)

    ReplyDelete
  81. This comment has been removed by the author.

    ReplyDelete
  82. Rufus is a Kudlow & Cramer protegee.

    :)

    ReplyDelete
  83. Rufus,
    Is "Positive" before, or after correcting for the deflated dollar?

    ReplyDelete
  84. California considers outlawing Black Cars to save Energy wasted on Air Conditioning.
    ==

    And? Batman lives in Gotham!

    ReplyDelete
  85. I was in constant disagreement with Kudlow, on his blog, regarding "The Dollar," and Ethanol.

    You've Never heard me say a kind word about "Cramer."

    ReplyDelete
  86. Remember, I'm the one predicting "oscillating" recessions for the Next 10 Years.

    ReplyDelete
  87. In "Inflation-adjusted" terms, Doug.

    ReplyDelete
  88. Remember, I'm the one predicting "oscillating" recessions for the Next 10 Years.
    ==

    Well, that seals it. We're in for one MF depression. :)

    ReplyDelete
  89. The morons in Washington, instead of concentrating on the real economy, and wealth creation thru the green economy, have opted to waste trillions on the same old economic welfare parasites. What can you say.

    ReplyDelete
  90. Ya gotta have a Banking Sytem, Mat. Otherwise, you couldn't "finance" the Green Systems.

    ReplyDelete
  91. Ya gotta have a Banking Sytem, Mat. Otherwise, you couldn't "finance" the Green Systems.
    ==

    BS.

    Anyway, the gov can and should provide loan guarantees, where loan amounts become greater than what the local regional banks can handle. AIG Citi GE and rest of them transnational insolvencies, should not receive a penny of US taxpayer's money. And they should all have the credit rating on their assets drop to junk status.

    ReplyDelete
  92. The Big O is nothing but a shill for the international money people...

    He STILL may hate America, Israel and whites, Christians and Jews...

    But I find it interesting the PEOPLE who surround him...

    and their attachments to AIG, Citi, USB, M Lynch etc...

    ReplyDelete
  93. bah! who needs banks and the like when the gov. can do it all - USA - United Soviet Amerika!

    ReplyDelete
  94. This comment has been removed by the author.

    ReplyDelete
  95. Why do I have the suspicion that there will be no shortage of banks, even without AIG Citi GE etc.

    ReplyDelete
  96. Anyway, the gov can and should provide loan guarantees

    Ain't enough. Poet, arguably, the BEST alt. energy company out there is having a hell of a time finding a bank to make the "Government-Guaranteed" Loan for their "Project Liberty" Cellulosic Ethanol Project.

    ReplyDelete
  97. Yeah, I think Exxon is chomping at the bit for the opportunity to help ethanol companies build plants.

    ReplyDelete
  98. They better be. EVs don't run on gas. Ethanol or otherwise.

    ReplyDelete
  99. Mish's Global Economic Trend Analysis: Japan Caught In Deflationary Spiral; Exports Plunge, Prices To Follow

    Japan's exports plunged a record 49.4 percent in February as deepening recessions in the U.S. and Europe sapped demand for the country's cars and electronics.

    Shipments to the U.S., the country's biggest market, tumbled an unprecedented 58.4 percent from a year earlier, the Finance Ministry said today in Tokyo. Automobile exports slid 70.9 percent.

    .
    .

    http://globaleconomicanalysis.blogspot.com/2009/03/japan-caught-in-deflationary-spiral.html

    http://snipurl.com/emex5

    ReplyDelete
  100. But the future is bright because the markets are going up, right?

    ReplyDelete
  101. The future is very bright.

    by Kristin Longley | The Flint Journal

    FLINT, Michigan -- Look in any direction from Bianca Bates' north Flint home, and you'll see graffiti-covered siding, boarded-up windows and overgrown lots.

    About half of the homes on her block are burned out or vacant magnets for drug dealers and squatters. It isn't where she thought she'd end up, but it's all she can afford to rent.

    "It's a dangerous place to live," said Bates, 21, who lives on East Russell Avenue. "Everywhere you look, these houses are empty around here."

    Property abandonment is getting so bad in Flint that some in government are talking about an extreme measure that was once unthinkable -- shutting down portions of the city, officially abandoning them and cutting off police and fire service.

    Temporary Mayor Michael Brown made the off-the-cuff suggestion Friday in response to a question at a Rotary Club of Flint luncheon about the thousands of empty houses in Flint.

    Brown said that as more people abandon homes, eating away at the city's tax base and creating more blight, the city might need to examine "shutting down quadrants of the city where we (wouldn't) provide services."

    He did not define what that could mean -- bulldozing abandoned areas, simply leaving the vacant homes to rot or some other idea entirely.

    .
    .

    http://www.mlive.com/news/flint/index.ssf/2009/03/city_of_flint_shutdown_offthec.html

    http://snipurl.com/emfoe

    ReplyDelete
  102. FT.com | Willem Buiter's Maverecon | More on robbing the US tax payer and debauching the FDIC and the Fed

    http://blogs.ft.com/maverecon/2009/03/more-on-robbing-the-us-tax-payer-and-debauching-the-fdic-and-the-fed/

    http://snipurl.com/emghl

    ReplyDelete
  103. Big Falling Out Between Dubai World and MGM Mirage

    A desert mirage. The heat waves shimmer. Ahead a $billion one year, down a $billion the next.

    ReplyDelete
  104. This comment has been removed by the author.

    ReplyDelete
  105. When the proprietors of the Vegas strip wont even provide a single bench for people to sit and enjoy themselves, you know that karma will soon have its day.

    ReplyDelete
  106. "Everywhere you look, these houses are empty around here."


    Begs a question. Where did they go?

    ReplyDelete
  107. "Here we again with another gusher of pent-up stupidity. "

    Blogger Mətušélaḥ said...

    When the proprietors of the Vegas strip wont even provide a single bench for people to sit and enjoy themselves, you know that karma will soon have its day.

    Thu Mar 26, 05:04:00 PM EDT


    Las Vegas Bench

    ReplyDelete
  108. California considers outlawing Black Cars to save Energy wasted on Air Conditioning.

    What's next, outlawing Hispanic Cars & Asian cars?

    ReplyDelete
  109. US Postal Service discontinues Obama stamp after trial run, too many people were spitting on the wrong side.

    ReplyDelete
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