I'm no big booster of the banking industry. They gave out a lot of unrealistic loans and packaged them into collateralized debt instruments. They sold off the ones they could and kept the ones they couldn't at virtually no cost to them, then used those to leverage even more debt. There were enough extra fees both paid by the borrower up front and folded into the loan itself to make that alone profitable enough to sell off the loans real cheap but the borrowers were not innocent victims and the criminality of the lenders does not make it so.
I know people who are going to lose their houses. They only come in two flavors. The first kind bought way more house than they could afford. They got loans for very little or nothing down. The payments were never amortized and often didn't even cover the interest accruing on the mortgage, making the principal, on which often high rates of interest are charged, larger with each passing month. These people never planned to keep the houses they purchased, their plan was simply to accrue equity in the house through rising market appreciation. They planned to then sell the house before the mortgage reset or the balloon payment was due. Many planned to do this in order to gain enough money to make a down payment on a more modest house, condo or even a mobile home that they could afford. The other flavor are those who purchased homes they could afford but got caught up in a vicious circle of refinancing in order to subsidize a lifestyle that they could not afford. In the end, they too owned a house on which they owed way more than they could afford to pay.
The borrowers and lenders are equally culpable. No one should be bailed out. The Republicans want to bail out the bankers. The Democrats want to bail out the borrowers. It looks like we are going to do both. It is reprehensible
Wednesday, July 30, 2008
I Like Newspapers But They No Longer Like Me
Los Angeles has always been more than just a city. It totally dominates the life of all the people that dwell in the basin that is formed by the Southern rift of the Tehachipis and Western slope of the San Gabriel Mountains to the Sea and South to San Diego County. It anchors the first and still the largest suburban megapolis.
For a century the city had a newspaper that matched it and documented its life, day by day, The Los Angeles Times. The Times may not ever have been renowned as one of the World's great newspapers but if you lived here in the great basin, it was almost indispensable.
It was famous for its girth, a bloated daily missive, with several sections, even on Saturday and home delivery was relegated to immigrant men in old pickup trucks or sedans with the backseats removed, frames sagging under the weight of the load, rather than earnest young paperboys with bags on bikes. The advertising supplements alone would have been too much for boys on bikes. The Times had sports, business, the movie industry, city hall and local society covered. They had bureaus in major cities around the World, correspondents that went to the hot spots, as well as writers covering the action in Sacramento, Washington, New York and other American regional centers. Over the years editorial policy shifted right, left and center but the opinions delivered were always diverse and thought provoking.
At my house, growing up, we always got the LA Times as well as the local daily. As an adult I continued the practice. Even though it is easier, more effective and efficient to get the news online, there is something about sitting down with the newspaper in the morning that is satisfying, even if it is only satisfying a habit.
Over the years, newspapers have been losing circulation and with circulation, advertising. Profits thinned out. Even well established, capitalized and mature monoliths like the LA Times began to suffer. Budgets were cut. News bureaus were shrunk, departments merged and deleted. The paper got smaller, even as subscription and news stand prices increased. The last member of the Chandler family, that had owned the paper for generations, who had taken an active interest in the management of the organization, became infirm, retired and died.
A few years ago, the remaining family members sold the paper to the Chicago Tribune. Soon after that, the Tribune merged with another newspaper publisher and all the time, circulation and advertising continued to decline. I continued to subscribe, partly out of loyalty and partly because I believed that without newspapers to post the news online, the quality of information available would degrade.
This week the Times announced further cuts in editorial staff and mergers in departments. I think I'm through. It isn't so much the decrease in size that I mind so much but somewhere along the way the paper has lost the literary flavor that made it an LAlien institution. I will soon cancel my subscription. I may take the Orange County Register. It was founded by R.C. Hoiles, a famous Right Wing nut and progenitor of the John Birch Society but has moderated in the decades since his demise and the truth be told, it has always offered better local Orange County news, sports and entertainment coverage. I may just pick up the OC Weekly, an alternative news throw away with surprisingly good local content. Eventually, news is going to have to be generated by some entity besides newspapers. I think they may be a lost cause.
For a century the city had a newspaper that matched it and documented its life, day by day, The Los Angeles Times. The Times may not ever have been renowned as one of the World's great newspapers but if you lived here in the great basin, it was almost indispensable.
It was famous for its girth, a bloated daily missive, with several sections, even on Saturday and home delivery was relegated to immigrant men in old pickup trucks or sedans with the backseats removed, frames sagging under the weight of the load, rather than earnest young paperboys with bags on bikes. The advertising supplements alone would have been too much for boys on bikes. The Times had sports, business, the movie industry, city hall and local society covered. They had bureaus in major cities around the World, correspondents that went to the hot spots, as well as writers covering the action in Sacramento, Washington, New York and other American regional centers. Over the years editorial policy shifted right, left and center but the opinions delivered were always diverse and thought provoking.
At my house, growing up, we always got the LA Times as well as the local daily. As an adult I continued the practice. Even though it is easier, more effective and efficient to get the news online, there is something about sitting down with the newspaper in the morning that is satisfying, even if it is only satisfying a habit.
Over the years, newspapers have been losing circulation and with circulation, advertising. Profits thinned out. Even well established, capitalized and mature monoliths like the LA Times began to suffer. Budgets were cut. News bureaus were shrunk, departments merged and deleted. The paper got smaller, even as subscription and news stand prices increased. The last member of the Chandler family, that had owned the paper for generations, who had taken an active interest in the management of the organization, became infirm, retired and died.
A few years ago, the remaining family members sold the paper to the Chicago Tribune. Soon after that, the Tribune merged with another newspaper publisher and all the time, circulation and advertising continued to decline. I continued to subscribe, partly out of loyalty and partly because I believed that without newspapers to post the news online, the quality of information available would degrade.
This week the Times announced further cuts in editorial staff and mergers in departments. I think I'm through. It isn't so much the decrease in size that I mind so much but somewhere along the way the paper has lost the literary flavor that made it an LAlien institution. I will soon cancel my subscription. I may take the Orange County Register. It was founded by R.C. Hoiles, a famous Right Wing nut and progenitor of the John Birch Society but has moderated in the decades since his demise and the truth be told, it has always offered better local Orange County news, sports and entertainment coverage. I may just pick up the OC Weekly, an alternative news throw away with surprisingly good local content. Eventually, news is going to have to be generated by some entity besides newspapers. I think they may be a lost cause.
Monday, July 28, 2008
Pretty Good Head Start
A lot of the people that like Obama REALLY like him. Almost nobody really likes McCain. Obama is pimping change. McCain just offers more of the same and things are as bad as they've been in quite some time. It might seem like Obama has a pretty good chance. I'm not so sure.
About 30% of potential voters still support Bush and his administration's vision for America unreservedly. Probably 30% would never even consider voting for a President with African heritage. There is a strong overlap in these groups but probably not too much more than 50%. This means that McCain has 45% of the vote pretty much locked up, even if nobody really wants him to be President.
That's a pretty good head start.
About 30% of potential voters still support Bush and his administration's vision for America unreservedly. Probably 30% would never even consider voting for a President with African heritage. There is a strong overlap in these groups but probably not too much more than 50%. This means that McCain has 45% of the vote pretty much locked up, even if nobody really wants him to be President.
That's a pretty good head start.
My Cat Snores
I picked up a cat at the pound several years ago. I got him at the urging of an old Swedish cat rescue lady who had gotten him out of the apartment of a schizophrenic woman who only fed him when she thought about it and tended to spend a lot of time locked up in local rubber rooms anyway. The old Swedish lady was going to keep him but she already had 15 cats and this one had problems sticking up for himself. He is a very unusual looking cat, brindled with orange stripes, spots and bullseyes. He's not hammerheaded and crosseyed, like a Siamese but does have a long foxey snout and huge wind scoop ears, with little beady golden eyes that burn like copper colored coals in the dark. He was a little jittery at first but has turned into a pretty good cat. He's friendly with strangers and doesn't usually draw too much blood when he bites.
I think he's got some kind of wildcat mix breeding, not bobcat, I had one of those once. I think this one is part Servil. Cat breeders sell these under the name Savannah Cats and they are pretty common.
This cat sleeps about 18 hours a day, which isn't to unusual but when he sleeps he snores like a freight train. He snores so violently that he even wakes himself up. He tries to prop his head up so that he doesn't do it but as soon as he shifts position or flips over in his sleep it starts up again. I've never seen a cat that snores like this. I don't mind that much. I hardly ever step on him when he's sleeping on the floor in the dark. That's a plus. I also snore so loud, sometimes I wake myself up too.
Originally I started calling him Wheezer. I thought it was pretty appropriate. My wife thought it was too cruel. I don't think cats care what you call them but what the hell. We just call him Noodles, because when he's curled up he looks like a big heap of spaghetti and marinara sauce.
This is a pretty stupid thing to write about but he's over in a corner making noises like an overloaded router right now.
I think he's got some kind of wildcat mix breeding, not bobcat, I had one of those once. I think this one is part Servil. Cat breeders sell these under the name Savannah Cats and they are pretty common.
This cat sleeps about 18 hours a day, which isn't to unusual but when he sleeps he snores like a freight train. He snores so violently that he even wakes himself up. He tries to prop his head up so that he doesn't do it but as soon as he shifts position or flips over in his sleep it starts up again. I've never seen a cat that snores like this. I don't mind that much. I hardly ever step on him when he's sleeping on the floor in the dark. That's a plus. I also snore so loud, sometimes I wake myself up too.
Originally I started calling him Wheezer. I thought it was pretty appropriate. My wife thought it was too cruel. I don't think cats care what you call them but what the hell. We just call him Noodles, because when he's curled up he looks like a big heap of spaghetti and marinara sauce.
This is a pretty stupid thing to write about but he's over in a corner making noises like an overloaded router right now.
Sunday, July 27, 2008
Go Down Mo' Town
The latest round of catastrophic news for American car makers comes from their financial subsidiaries. Detroit has long offered in house financing to capture extra profits from car buyers in the form of high interest car loans. They continued this strategy when leasing became popular, charging a fixed amount monthly, after an often exorbitant and add on fee laden down payment, for the use of a vehicle over a set amount of time. The amount of time that the lease agreement extends to is flexible. As car prices increased, over the years, in order to keep monthly payments under control, so did the length of the average lease. Currently, it is not uncommon for car leases to extend for five or even six years.
In the last year, as gas prices have increased. American automotive preferences have been rapidly changing. Pick-ups, vans and bloated SUVs, often powered by large displacement, gas guzzling, Detroit iron, are no longer coveted by the American commuter. The Big Three have found that there is no longer any market for their in house, previously leased vehicles. Even though they garner a more than fair return on the initial lease agreements, they rely on the resale of these vehicles for the lions share of profit. Since all of these companies are bleeding red ink and have been for decades, the loss of a previously lucrative revenue stream is not welcome news.
Chrysler has already announced that their financial arm will make no more leases. GM and Ford will almost certainly follow. The problem is that over the next several years, as current leases expire, these companies are going to have to write off huge losses on lease returns.
Maybe oil will return to $25 a barrel. Once he gets back to the Oil Patch, George Bush could make it happen, through sheer force of will.
In the last year, as gas prices have increased. American automotive preferences have been rapidly changing. Pick-ups, vans and bloated SUVs, often powered by large displacement, gas guzzling, Detroit iron, are no longer coveted by the American commuter. The Big Three have found that there is no longer any market for their in house, previously leased vehicles. Even though they garner a more than fair return on the initial lease agreements, they rely on the resale of these vehicles for the lions share of profit. Since all of these companies are bleeding red ink and have been for decades, the loss of a previously lucrative revenue stream is not welcome news.
Chrysler has already announced that their financial arm will make no more leases. GM and Ford will almost certainly follow. The problem is that over the next several years, as current leases expire, these companies are going to have to write off huge losses on lease returns.
Maybe oil will return to $25 a barrel. Once he gets back to the Oil Patch, George Bush could make it happen, through sheer force of will.
Cave In
The craven, cowardly and deeply corrupt Bush administration's Mine Safety and Health Agency issued it's final reports on the disastrous collapse at the Crandall Canyon coal mining operation, that occurred last year. There was no way to cover up or whitewash what happened there because of the sheer magnitude of the damage and the corporate malfeasance that caused it. The bottom line is, they levied token fines on the mining company and there will be no criminal prosecutions. I hope the families of the dead miners sue the hell out of the company. That is the only way they can be made to pay now.
As far as I know, there is yet to be any regulation or restriction on retreat mining, to augment that which existed before the collapse of the mountain in Utah.
During a time when the exploitation of mineral resources in this country will undoubtedly soon be expanding, after a generation of decline, it is unconscionable that we don't do everything possible to safeguard the lives and health of the men who go down in the mines. Mining interests in this country have shown time and again that the only thing they respond to, other than profit, is harsh and punitive enforcement of penalties, for violation of the law.
As far as I know, there is yet to be any regulation or restriction on retreat mining, to augment that which existed before the collapse of the mountain in Utah.
During a time when the exploitation of mineral resources in this country will undoubtedly soon be expanding, after a generation of decline, it is unconscionable that we don't do everything possible to safeguard the lives and health of the men who go down in the mines. Mining interests in this country have shown time and again that the only thing they respond to, other than profit, is harsh and punitive enforcement of penalties, for violation of the law.
Can't Get No
We are entering a time of great change. I'm pretty much clueless about it. It's not going to be my time, just goin' along for the ride. It will be interesting. Might be fun. A lot better than being dead. What isn't?
When I was a young person, in the 1960s, the iconic figures of the last great period of cultural and artistic awakening in America, that wild and turbulent decade following the war to end all wars, forty years before, were still prominent in the life and news of the times. Some had died. Some had become beloved elders. Some were reclusive shut ins. Some continued to live on as bewilderingly inappropriate caricatures of their former selves. None of them had any real continuing relevance. Nothing has changed.
Mick Jagger turned sixty five yesterday. He had a nice run. Paced himself. Prob'ly live to a hundred. Becoming a caricature is better than becoming a corpse.
When I was a young person, in the 1960s, the iconic figures of the last great period of cultural and artistic awakening in America, that wild and turbulent decade following the war to end all wars, forty years before, were still prominent in the life and news of the times. Some had died. Some had become beloved elders. Some were reclusive shut ins. Some continued to live on as bewilderingly inappropriate caricatures of their former selves. None of them had any real continuing relevance. Nothing has changed.
Mick Jagger turned sixty five yesterday. He had a nice run. Paced himself. Prob'ly live to a hundred. Becoming a caricature is better than becoming a corpse.
Big Week
This last week has been a watershed in the history of America. One that will continue to shape events for decades to come.
This was the week that the Right reversed itself on the War in Iraq. Right Wing wisdom now dictates that the war is won. While nothing has changed on the ground, the continuing violence and political strife is now to be regarded as domestic and not of "terrorist" origin. Regardless of how elections go in the fall, here or in Iraq, we are now backing out of the conflict. Whether we are leaving according to a liberal timetable or honorably standing down as the Iraqis stand up, is pure semantics. The end result will be the same.
Bush gave up his quest for a positive legacy and is scuttling, crablike and in disgrace, toward the exit of his term. World leaders in the Middle East and Europe scrambled over each other to embrace Barak Obama, whether or not he is elected, as the man they regard to be the symbol of American leadership. This was a knife in George's back, from which he cannot recover.
Bush has been forced to reject his conservative principles and endorse a socialist bailout bill, that will rescue an American banking system robbed into insolvency, by the same greedy, capitalist, corporate nabobs that he counted on to lead the country into a new golden age of laissez faire economic growth. There was a stock market rally this week, not because of any good news or potential for a return to profitability in the business sector but simply because the Bush administration indicated it realized that the economy was in deep trouble and signaled it would begin to address the problem, rather than simply continue to state that everything will soon return to normal. The costs are going to be enormous and the men who are responsible will likely walk away to off shore sanctuary with billions but the costs of addressing the problems now are less than continuing to ignore them.
I do not expect that things will get better any time soon but any time the militant ignorance and stupidity of the fundo fascist Right, suffers a significant defeat, it is a good thing and a victory for the American public.
This was the week that the Right reversed itself on the War in Iraq. Right Wing wisdom now dictates that the war is won. While nothing has changed on the ground, the continuing violence and political strife is now to be regarded as domestic and not of "terrorist" origin. Regardless of how elections go in the fall, here or in Iraq, we are now backing out of the conflict. Whether we are leaving according to a liberal timetable or honorably standing down as the Iraqis stand up, is pure semantics. The end result will be the same.
Bush gave up his quest for a positive legacy and is scuttling, crablike and in disgrace, toward the exit of his term. World leaders in the Middle East and Europe scrambled over each other to embrace Barak Obama, whether or not he is elected, as the man they regard to be the symbol of American leadership. This was a knife in George's back, from which he cannot recover.
Bush has been forced to reject his conservative principles and endorse a socialist bailout bill, that will rescue an American banking system robbed into insolvency, by the same greedy, capitalist, corporate nabobs that he counted on to lead the country into a new golden age of laissez faire economic growth. There was a stock market rally this week, not because of any good news or potential for a return to profitability in the business sector but simply because the Bush administration indicated it realized that the economy was in deep trouble and signaled it would begin to address the problem, rather than simply continue to state that everything will soon return to normal. The costs are going to be enormous and the men who are responsible will likely walk away to off shore sanctuary with billions but the costs of addressing the problems now are less than continuing to ignore them.
I do not expect that things will get better any time soon but any time the militant ignorance and stupidity of the fundo fascist Right, suffers a significant defeat, it is a good thing and a victory for the American public.
Saturday, July 26, 2008
It's Friday Night. Do You Know Where Yor Money Is?
Two Western regional banks failed yesterday. Their losses will be subsidized by the FDIC. Over the weekend, their depositor's accounts will be transferred to a small banking subsidiary of a major insurance corporation, presumably one not in danger of failing itself. Under this arrangement, no depositors will lose any money but the taxpayers will assume responsibility for more bad debt than they are required to under FDIC rules. The reason they are doing this, is that it is unlikely they can liquidate any of these bank's loan portfolios currently. This way they will make good all of the approximately 3 1/2 billion dollars of deposits and hope they can get something for the banks assets at a later date. Much later. Or not.
Look for several more of these "stealth" bank failures weekly, in the coming months, as the Federal government tries to keep the collapse of the American banking industry under wraps. They are apparently only going to comment when one of the big boys goes tits up. Notice how they waited 'til Friday afternoon to leak out the word. Smart.
No use upsetting all those foolish Chicken Little types.
Look for several more of these "stealth" bank failures weekly, in the coming months, as the Federal government tries to keep the collapse of the American banking industry under wraps. They are apparently only going to comment when one of the big boys goes tits up. Notice how they waited 'til Friday afternoon to leak out the word. Smart.
No use upsetting all those foolish Chicken Little types.
Amber Alert
The papers are full of another little 3 year old girl missing and presumed murdered. No one in her loving family even bothered to report her missing for more than a month, despite a lot of lame stories from the mother about her being with a "boyfriend" and the grand parents noticing a dead body smell in their daughter's car. The police haven't figured out what happened and the entire family seems to be clueless as to when and where this little girl disappeared. One neighbor reports the girl's mother borrowed a shovel about that time. There is a fresh slab of concrete poured in the grandparent's backyard. Nobody has talked to the boyfriend for a while. What a mess.
Whenever one or more of these little children disappear, there is often some kind of nasty, Republican coalition, fundo fascist connection. Whether it's a Christian cult, a mixture of methamphetamine, big tattoos and a Confederate flag fetish, an aging beauty queen who pimps out her little girl at bizarre, pre pubescent beauty pageants, or whatever, there always seems to be some aspect of bedrock, American cultural nationalism gone horribly bad involved. I wonder why ex-Feeb profiler Cliff Van Zandt, when they pull him out from whatever rock he crouches under to comment, on Fox News, never brings that up. It never seems to be the daughter of two fat, Maoist, lesbian, secular humanist, urban pioneers running a food co-op/abortion referral agency, in Ann Arbor, who ends up buried in some shallow grave in a trailer park, in the dead of night.
It kind of makes you wonder who the parents that really care about the well being of their children are.
Whenever one or more of these little children disappear, there is often some kind of nasty, Republican coalition, fundo fascist connection. Whether it's a Christian cult, a mixture of methamphetamine, big tattoos and a Confederate flag fetish, an aging beauty queen who pimps out her little girl at bizarre, pre pubescent beauty pageants, or whatever, there always seems to be some aspect of bedrock, American cultural nationalism gone horribly bad involved. I wonder why ex-Feeb profiler Cliff Van Zandt, when they pull him out from whatever rock he crouches under to comment, on Fox News, never brings that up. It never seems to be the daughter of two fat, Maoist, lesbian, secular humanist, urban pioneers running a food co-op/abortion referral agency, in Ann Arbor, who ends up buried in some shallow grave in a trailer park, in the dead of night.
It kind of makes you wonder who the parents that really care about the well being of their children are.
New F-16s for Pakistan
The craven pig-dog Bush wants a quarter of a billion to upgrade Pakistan's fleet of fighter jets, to fight "terrorists". What a joke. The only use Pakistan has for F-16s with the latest avionics upgrades, is for a nuclear confrontation with India. Bush continues to be nothing but a bloated, diseased, lying scumbag.
Thursday, July 24, 2008
Train Wreck
Irregardless of whether or not the US taxpayer is saddled with the bailout of FREDDY MAC and FANNY MAE, there are a slew of bank failures coming up. The economy will continue to contract as consumer spending decreases. Unemployment will continue to increase. The budget deficit will increase, as revenues decrease. Monetary policy will continue to be grossly inflationary even in the face of large scale wealth and debt destruction caused by a continuing cascade of defaulting debt.
The idea that falling commodity prices, led by a retrenchment in the price of crude oil, will spur a continuing advance in the equity markets is simplistic and not reality based. All of the equity markets around the World, not just in the US and EU are headed down, way down and soon. I watch the markets with the fascination of a young child with an unobstructed view of a fast freight headed for a broken trestle that is unseen by the hapless train crew.
The idea that falling commodity prices, led by a retrenchment in the price of crude oil, will spur a continuing advance in the equity markets is simplistic and not reality based. All of the equity markets around the World, not just in the US and EU are headed down, way down and soon. I watch the markets with the fascination of a young child with an unobstructed view of a fast freight headed for a broken trestle that is unseen by the hapless train crew.
Tuesday, July 22, 2008
Carnivorous Parrots
I read about a new genetic study done of common bird types released recently. A very interesting finding is that falcons are not really related to eagles and hawks at all but more closely related to parrots, than any other type of bird.
When I think about this, it makes a great deal of sense. There are a lot of peregrine falcons around where I live. They don't act that much like hawks or eagles. They thrive in densely populated human areas more easily. They hunt from an elevated perch rather than soaring around in the thermals, up high in the sky. They are more social and spend a lot of time cavorting with each other and seem to have a very strong pair bond. They make a lot of noise and seem to be calling out to each other. A lot of their activity seems to be just playing. I have heard that they are much more easily trained to hunt and much easier to control once trained than other raptors. Their wing spans are not so disproportionately wide as hawks, eagles and vultures and their tails are longer. Their beaks and talons are not so long. I'm not that much of a bird watcher but the peregrines are fun to have around. They also keep the crows from nesting in the eucalyptus. Now that I think of them as carnivorous parrots, they seem more friendly.
I'm pretty sure you couldn't teach one to talk, though.
When I think about this, it makes a great deal of sense. There are a lot of peregrine falcons around where I live. They don't act that much like hawks or eagles. They thrive in densely populated human areas more easily. They hunt from an elevated perch rather than soaring around in the thermals, up high in the sky. They are more social and spend a lot of time cavorting with each other and seem to have a very strong pair bond. They make a lot of noise and seem to be calling out to each other. A lot of their activity seems to be just playing. I have heard that they are much more easily trained to hunt and much easier to control once trained than other raptors. Their wing spans are not so disproportionately wide as hawks, eagles and vultures and their tails are longer. Their beaks and talons are not so long. I'm not that much of a bird watcher but the peregrines are fun to have around. They also keep the crows from nesting in the eucalyptus. Now that I think of them as carnivorous parrots, they seem more friendly.
I'm pretty sure you couldn't teach one to talk, though.
It's Like "The Dawn Of The Dead", Only For Bankers
Equities in the banks that make up the financial sector of the American stock markets are shredding and sinking into sludge, like so much used toilet paper in the settling basin of a sewage treatment plant. Not even a week after President Bush brought out every one of his lick spittle cabinet heads to cheerlead a shaky suckers rally, financials look ready to lead the market into a new level of ever deeper lows.
A little later this morning, Hank Paulson, a treasury secretary who manages to be even more imbecilically optimistic than the previously most stupid holder of the office, Donald Regan, another blood sucking parasite who spent a generation stealing the meager savings of hard working pensioners, while running one of America's largest investment banking houses, will address the public. This is becoming almost a daily ritual for Hank. Who does he think he's kidding.
Hank will no doubt, once again, urge Congress to pass a bill that allows him to use freshly printed, mostly worthless, American dollars, to buy equally worthless banking shares, in order to allow the banks to redeem just as worthless unpaid debt, that they hold by the trillions of dollars. It's like some horribly diseased daisy chain of fiduciary malfeasance.
We should kill all the bankers. They are of no use and will only continue to lie and steal. It is the only life they know and understand. We could raffle off their palatial mansions, in all the best areas, to wealthy Arabs. Maybe they could be convinced to pay us off in money from a country where the currency is more stable, like Zimbabwe or Vietnam, instead of our own worthless specie.
A little later this morning, Hank Paulson, a treasury secretary who manages to be even more imbecilically optimistic than the previously most stupid holder of the office, Donald Regan, another blood sucking parasite who spent a generation stealing the meager savings of hard working pensioners, while running one of America's largest investment banking houses, will address the public. This is becoming almost a daily ritual for Hank. Who does he think he's kidding.
Hank will no doubt, once again, urge Congress to pass a bill that allows him to use freshly printed, mostly worthless, American dollars, to buy equally worthless banking shares, in order to allow the banks to redeem just as worthless unpaid debt, that they hold by the trillions of dollars. It's like some horribly diseased daisy chain of fiduciary malfeasance.
We should kill all the bankers. They are of no use and will only continue to lie and steal. It is the only life they know and understand. We could raffle off their palatial mansions, in all the best areas, to wealthy Arabs. Maybe they could be convinced to pay us off in money from a country where the currency is more stable, like Zimbabwe or Vietnam, instead of our own worthless specie.
Monday, July 21, 2008
Sometimes a Good Party Lasts Until the Cold Dawn of a New Day but then It's Time to Go Home
After having taunted Barak Obama into a trip to the American military hotspots in the Middle East, John McCain and the neocon bulletheads are reeling in shock and horror. American puppet leaders, PM Maliki in Iraq and President Karsai in Afghanistan have greeted Obama more warmly than ever they have the Decider since he declared "mission accomplished" and both have all but endorsed Obama for the position of leader of the free World and champion of democratic reform in their countries. The troops themselves, the ground pounding dogfaces, not the ring knocking, cock sucking, academy graduates who pimp the war for Bush-Cheney, love Obama. They are just as ready to get the hell out of there as the Iraqis and Afghans are eager to have them go. Mike Mullen seems a little out of sorts as regards Barry's Middle East visit but Davey P, who might want to be head of Joint Chiefs during an Obama Presidency, seemed more than happy to squire him around. Barry is no doubt better company than the Republicans geriatric suitor, with his failing intellect and rotting, cancerous face.
Barry is soon off to Europe, where he is wildly popular among a population that regards President Bush and rightly so, as the bestial heavy in a Fellini melodrama, come horribly and abusively to real life. Fearing another "Ich bien ein Berliner" moment, Condy's crew has managed to put the kibosh on a planned Obama speech before thousands, at the Brandenburg Gate. No matter. There are plenty of Iconic landmarks that Obama can use as a backdrop for the delivery of an inspirational stem winder to the European throngs.
It's turning out to be a good week for Obama. Thanks to the syphilitic operatives over at Republican Central, who managed to shake off their spirochete induced psychosis long enough to set it up.
Barry is soon off to Europe, where he is wildly popular among a population that regards President Bush and rightly so, as the bestial heavy in a Fellini melodrama, come horribly and abusively to real life. Fearing another "Ich bien ein Berliner" moment, Condy's crew has managed to put the kibosh on a planned Obama speech before thousands, at the Brandenburg Gate. No matter. There are plenty of Iconic landmarks that Obama can use as a backdrop for the delivery of an inspirational stem winder to the European throngs.
It's turning out to be a good week for Obama. Thanks to the syphilitic operatives over at Republican Central, who managed to shake off their spirochete induced psychosis long enough to set it up.
Who Are They Trying To Kid?
The FDIC says that while INDYMAC has failed and will cost the tax payer billions and the depositors more billions, all the other banks are safe. If that was true, they wouldn't bother to say it. The SEC blames speculators for the bubble economies and the collapse of American corporate equities. Wall Street was founded and been run ever since by speculators, men who have no other profession than market manipulation and fleecing the rubes. There have been speculators ever since the first neolithic traders met with farmers at a commercial nexus to trade agricultural products for salt, trinkets, intoxicants and pussy. Hank Paulson says the economy will be recovered several months from now. He said the same thing several months ago. George Bush says there is no inflation. He says that the decrease in housing prices coupled with demand destruction caused by cooling World economies will cause deflation, requiring a continuation of policies keeping interest rates low and the money supply growing. He says this even though he maintains that World economies are not cooling and the real estate crisis is not serious. What do you expect? He is a retard.
The stock market had a little bounce last week. It wasn't much of a bounce but you take what you can get. You won't see valuations this high again until the dollar is worth a whole lot less. Take it as a gift and sell your stocks. You figure out what to do with the proceeds.
The stock market had a little bounce last week. It wasn't much of a bounce but you take what you can get. You won't see valuations this high again until the dollar is worth a whole lot less. Take it as a gift and sell your stocks. You figure out what to do with the proceeds.
Sunday, July 20, 2008
Who Are These Men That Speak For God? Do They Like Cats?
In a Protestant church in Massachusetts, in a ceremony not sponsored by the Roman Catholic Church, women were consecrated as priests. The Catholic hierarchy felt threatened enough by this, to issue an edict that these women are not priests and by this action excommunicate themselves from the church. What's going on? Why would they make a statement like this? It seems self evident that this is true.
The Catholic Church does not allow women priests. This ceremony did not take place in a Catholic Church, nor was it sanctioned by it. These are simply people expressing their own religious beliefs, other than and separate from the Catholic Church. While these people may see themselves as reformers, it is doubtful they see themselves as reformers of the church. More likely, they see themselves as societal reformers and founders of a new and better church, part of a protestant movement that has been going on in Western society for hundreds of years.
It is also true, that during this protestant period, the Catholic Church has undergone its own drastic changes, often in response to the changes wrought by various protestant groups and changes in society, as it becomes more amenable to the increasing autonomy demanded by the masses. So many changes in the Roman Catholic Church have been made, that the question can be asked, is the Roman Catholic Church really itself anymore? Many traditionalists in the church ask just that question and in response, have started their own churches, that they feel better exemplify the real institution of the church. Would we call these people protestants or something else?
Mankind's quest for understanding of spirituality is ongoing. The more that some religious groups try to say that they possess the only truth, the more dissidents arise to question and contradict those supposed truths. Who is to say they are wrong? Men who say they speak for God are rising all the time. People have a lot of choices as to what exactly God wants us to do. Now, apparently some within the World's community of women believe that they also have the right to speak for God. Who is to say they are wrong? Some old Bavarian poofter who travels about in red patent leather slippers and heavily brocaded satin mumus? It's a tough question and not one I have the answer to. People recognize the truth of God because it resonates with something inside them, not because of who says it. Different truths resonate with different people. Can there even be universal truths?
The Pope likes cats. Jesus certainly liked cats. Rome is full of cats. I bet the women who were consecrated as priests in Massachusetts like cats. I like cats. I don't trust people that don't like cats. Does this mean God wants us to like cats? I don't know. From everything I've heard, Satan is also real fond of cats. So where do cat haters go when they die? Where do cats go when they die? Do cats speak for God? If so, can they be priests? Man, religion is a hard thing.
The Catholic Church does not allow women priests. This ceremony did not take place in a Catholic Church, nor was it sanctioned by it. These are simply people expressing their own religious beliefs, other than and separate from the Catholic Church. While these people may see themselves as reformers, it is doubtful they see themselves as reformers of the church. More likely, they see themselves as societal reformers and founders of a new and better church, part of a protestant movement that has been going on in Western society for hundreds of years.
It is also true, that during this protestant period, the Catholic Church has undergone its own drastic changes, often in response to the changes wrought by various protestant groups and changes in society, as it becomes more amenable to the increasing autonomy demanded by the masses. So many changes in the Roman Catholic Church have been made, that the question can be asked, is the Roman Catholic Church really itself anymore? Many traditionalists in the church ask just that question and in response, have started their own churches, that they feel better exemplify the real institution of the church. Would we call these people protestants or something else?
Mankind's quest for understanding of spirituality is ongoing. The more that some religious groups try to say that they possess the only truth, the more dissidents arise to question and contradict those supposed truths. Who is to say they are wrong? Men who say they speak for God are rising all the time. People have a lot of choices as to what exactly God wants us to do. Now, apparently some within the World's community of women believe that they also have the right to speak for God. Who is to say they are wrong? Some old Bavarian poofter who travels about in red patent leather slippers and heavily brocaded satin mumus? It's a tough question and not one I have the answer to. People recognize the truth of God because it resonates with something inside them, not because of who says it. Different truths resonate with different people. Can there even be universal truths?
The Pope likes cats. Jesus certainly liked cats. Rome is full of cats. I bet the women who were consecrated as priests in Massachusetts like cats. I like cats. I don't trust people that don't like cats. Does this mean God wants us to like cats? I don't know. From everything I've heard, Satan is also real fond of cats. So where do cat haters go when they die? Where do cats go when they die? Do cats speak for God? If so, can they be priests? Man, religion is a hard thing.
Friday, July 18, 2008
We Were Frat Boys Once.....And Young
It's not necessary for Bush and his cronies to live in a free fire zone to gain some empathy for the victims of our military incursions in the Middle East. It's not necessary for their friends and family members to disappear in the night, gone forever, victims of violence, torture and ultimately death. It is not necessary for their wives and daughters to be raped and sodomized if ever they leave the family home without an armed escort but it would help.
Face facts. Bush and his friends grew up in clean, safe neighborhoods. They played Little league baseball and Pop Warner football. They went to expensive prep schools and were legacy admissions to the best colleges in America. Beautiful young girls were glad to marry them, knowing their lives would be secure and there would never be any money problems. Bush and his friends never struggled with past due bills, never worried about job security, benefits, health care or the next promotion. If they served in the military at all, it was in a cushy, stateside billet that might as well have been a corporate, junior executive internship.
The idea that these guys would use their power as leaders of the American people, to destroy whole countries and cultures, maim, rape and murder millions of people is inconceivable. How do we face the World community, after letting them do just that? This is not a small, repugnant act of sado-sexual hazing, done in some midnight frat house ceremony and snickered about for decades at corporate board meetings and around the washbasins in country club toilets. These are war crimes as callous and villainous, as have ever been perpetrated. Just because they are rich, from prominent families, educated at the best schools and willing to run the country, does not make them suitable successors to the honored founding fathers of this nation. America has erred grievously by placing trust in these men.
Simply replacing them in the positions of authority that they have so grossly abused, is not enough. Impeachment by Congress, civil or even criminal trials, here in this country, while maybe appropriate, are not sufficient. The crimes these men have perpetrated, were against foreign peoples. They must be turned over to international agencies for tribunal and if found guilty, the administration of justice.
Face facts. Bush and his friends grew up in clean, safe neighborhoods. They played Little league baseball and Pop Warner football. They went to expensive prep schools and were legacy admissions to the best colleges in America. Beautiful young girls were glad to marry them, knowing their lives would be secure and there would never be any money problems. Bush and his friends never struggled with past due bills, never worried about job security, benefits, health care or the next promotion. If they served in the military at all, it was in a cushy, stateside billet that might as well have been a corporate, junior executive internship.
The idea that these guys would use their power as leaders of the American people, to destroy whole countries and cultures, maim, rape and murder millions of people is inconceivable. How do we face the World community, after letting them do just that? This is not a small, repugnant act of sado-sexual hazing, done in some midnight frat house ceremony and snickered about for decades at corporate board meetings and around the washbasins in country club toilets. These are war crimes as callous and villainous, as have ever been perpetrated. Just because they are rich, from prominent families, educated at the best schools and willing to run the country, does not make them suitable successors to the honored founding fathers of this nation. America has erred grievously by placing trust in these men.
Simply replacing them in the positions of authority that they have so grossly abused, is not enough. Impeachment by Congress, civil or even criminal trials, here in this country, while maybe appropriate, are not sufficient. The crimes these men have perpetrated, were against foreign peoples. They must be turned over to international agencies for tribunal and if found guilty, the administration of justice.
Thursday, July 17, 2008
Another Sucker's Rally
It's important to step back for a moment and think about what is happening in World markets today. Crude is dropping, while stocks, especially financials, are spiking in value.
When this sucker's rally is over, crude oil is going to have established a bottom, probably no lower than $120 a barrel. The Dow will leave this rally behind, almost certainly without having broken above 12,000. The fundamentals remain the same. Out of control inflation with trade and budget deficits that have never been higher. Ruinous, ongoing, multi trillion dollar, foreign wars. Mountains of bad debt. Rising unemployment and sinking real wages.
The heads of the Treasury, Federal Reserve, and SEC, as well as the POTUS have been out this week, helping the pimps over at CNBC try to paint up and sell the tired old ass of this economy to the World. If this is the best they can do, we got a cold winter comming up.
When this sucker's rally is over, crude oil is going to have established a bottom, probably no lower than $120 a barrel. The Dow will leave this rally behind, almost certainly without having broken above 12,000. The fundamentals remain the same. Out of control inflation with trade and budget deficits that have never been higher. Ruinous, ongoing, multi trillion dollar, foreign wars. Mountains of bad debt. Rising unemployment and sinking real wages.
The heads of the Treasury, Federal Reserve, and SEC, as well as the POTUS have been out this week, helping the pimps over at CNBC try to paint up and sell the tired old ass of this economy to the World. If this is the best they can do, we got a cold winter comming up.
Wednesday, July 16, 2008
Don't hide your valuables in your asshole when you load up your shopping cart and go for a refugee. George Bush will find them when he butt fucks you.
Yesterday, people were lined up around the block at IndyMac Bank branches all over SoCal, only to be told at the end of their wait, that they had lost substantial portions of their life savings. Bush-Cheney butt boys, Ben Bernanke and Hank Paulson bent over for Congress while the master of mission accomplished went on TV and told the country that the economy was in fine shape and the dollar was the envy of the World. Hank is opening the floodgates of free money directly into the coffers of corporate America, while Benny is telling the widows and orphans that if they have lost all their money, it's because they didn't do their due diligence.
This morning the market is up, the dollar is up, bank shares are soaring, while oil, gold and other commodities are selling off. This proves that a sore and stretched out ass hole is prejudicial to the exercise of good judgement and plain old common sense. No politician ever made a mistake ass fucking the American public. What a sad World we live in. The meek may not inherit the earth but their dead, rotting bodies will certainly soon be fertilizing it.
This morning the market is up, the dollar is up, bank shares are soaring, while oil, gold and other commodities are selling off. This proves that a sore and stretched out ass hole is prejudicial to the exercise of good judgement and plain old common sense. No politician ever made a mistake ass fucking the American public. What a sad World we live in. The meek may not inherit the earth but their dead, rotting bodies will certainly soon be fertilizing it.
Monday, July 14, 2008
Michael Yon and the True Beleivers Declare Victory in Iraq
Over at his site, Michael Yon is saying that the Iraq War is over.
What gets me about little cocksuckers like this, is that for the first four years of the Iraq War, they swore that everything was going great in Iraq and that the only problem was, that the people against the war at home, were traitors and cowards and by not "supporting the troops" were aiding and abetting the "terrorists", in Iraq. They swore, that the journalists who questioned the actions of the Bush administration and the American Generals were "phoning in" their stories from cocktail lounges in the "Green Zone". Never mind that there was never any reason for us to be in Iraq. Never mind that there was never any plan as to what to do with the Iraqis, after we had "liberated" them. It was only after the "Surge" had been announced, that these "Bush-Cheney" catamites admitted to any problem with our occupation in Iraq and then only the "Surge" could rectify the situation. No sooner had the "Surge" gotten underway than it was pronounced "working". Never mind that in the meantime, General Petraeus had put every bully boy, rapist, Son of Saddam insurgent, with an AK or RPG launcher, on a three hundred dollar a month retainer, thereby neutralizing the insurgency. Voila, al-Qaeda in Iraq defeated.
Now, of course, they feel empowered to declare that the War in Iraq is over, because only they have the insight to truly understand the mechanics of the conflict in Iraq. These people are scum. They are traitors to the United States. They use their status as veterans and journalists, to bring dishonor to the flag they once served under. The blood of every good man who died in Iraq under arms and every innocent Iraqi civilian, man, woman and child killed, can be laid at their feet. They dishonor the thousands of American men and women who served in good faith, without feeling the need to engage in lies and political subterfuge.
Burn in Hell, lying, traitorous, scum. Write your books. Collect your blood money. Bask in the notoriety of your own treachery.
What gets me about little cocksuckers like this, is that for the first four years of the Iraq War, they swore that everything was going great in Iraq and that the only problem was, that the people against the war at home, were traitors and cowards and by not "supporting the troops" were aiding and abetting the "terrorists", in Iraq. They swore, that the journalists who questioned the actions of the Bush administration and the American Generals were "phoning in" their stories from cocktail lounges in the "Green Zone". Never mind that there was never any reason for us to be in Iraq. Never mind that there was never any plan as to what to do with the Iraqis, after we had "liberated" them. It was only after the "Surge" had been announced, that these "Bush-Cheney" catamites admitted to any problem with our occupation in Iraq and then only the "Surge" could rectify the situation. No sooner had the "Surge" gotten underway than it was pronounced "working". Never mind that in the meantime, General Petraeus had put every bully boy, rapist, Son of Saddam insurgent, with an AK or RPG launcher, on a three hundred dollar a month retainer, thereby neutralizing the insurgency. Voila, al-Qaeda in Iraq defeated.
Now, of course, they feel empowered to declare that the War in Iraq is over, because only they have the insight to truly understand the mechanics of the conflict in Iraq. These people are scum. They are traitors to the United States. They use their status as veterans and journalists, to bring dishonor to the flag they once served under. The blood of every good man who died in Iraq under arms and every innocent Iraqi civilian, man, woman and child killed, can be laid at their feet. They dishonor the thousands of American men and women who served in good faith, without feeling the need to engage in lies and political subterfuge.
Burn in Hell, lying, traitorous, scum. Write your books. Collect your blood money. Bask in the notoriety of your own treachery.
We Are Now Officially At The Mercy Of Capitalist Looters
The bailout of FANNIE MAE and FREDDIE MAC by the US Treasury today, marks a new era of depraved, cowardly, abuse of the American tax payer, by the government. Before this, we have been made to pay for wars, purchase shoddy goods and services, subsidize the wealth building of the investor class and otherwise spend our money on things we never needed and didn't ask for. Today, Hank Paulson began the transfer of money from the US Treasury, directly into the pockets of Wall Street investors, with no pretense that we receive anything for it. The only limit put on this folly is the amount of money his friend, Ben Bernanke, over at the Federal Reserve Bank can print.
If you have any money at all, even loose change in your pocket, spend it now. If you have any credit, max it out, then spend that. There is no hope. We are past the point of no return. The Republic must fall.
If you have any money at all, even loose change in your pocket, spend it now. If you have any credit, max it out, then spend that. There is no hope. We are past the point of no return. The Republic must fall.
Monday, July 07, 2008
The Iraqi Government Wants US Military to Go Home
Nouri al-Maliki doesn't want to agree with the Bush administration on a treaty that would govern the activities of US military forces in Iraq, following the expiration of the UN charter authorizing intervention in Iraq, at the end of this year. He knows that the legislature would never vote to approve such a treaty and that it is an extremely unpopular issue among the voting public. Instead, he is calling for a timetable by which the US would begin to remove it's military from Iraq.
An especially sore point is the immunity from any consequences enjoyed by US contractors and servicemen for criminal acts committed while in Iraq. The Bush administration insists that it does not engage in war crimes in Iraq but the citizenry, who have endured the deaths of a million of their friends, family and fellow countrymen and the maiming, rape, torture, incarceration and displacement of millions more, know better.
What is the problem. Fuel up the troop ships and bring our forces home. Those fundo-fascist Americans that still believe that the Iraqis need help with the governance of their country are free to go there and help them, as private citizens. Perhaps they would even like to emigrate. I'm sure they would be welcomed in Iraq. We will try to get along without them back at home.
An especially sore point is the immunity from any consequences enjoyed by US contractors and servicemen for criminal acts committed while in Iraq. The Bush administration insists that it does not engage in war crimes in Iraq but the citizenry, who have endured the deaths of a million of their friends, family and fellow countrymen and the maiming, rape, torture, incarceration and displacement of millions more, know better.
What is the problem. Fuel up the troop ships and bring our forces home. Those fundo-fascist Americans that still believe that the Iraqis need help with the governance of their country are free to go there and help them, as private citizens. Perhaps they would even like to emigrate. I'm sure they would be welcomed in Iraq. We will try to get along without them back at home.
Saturday, July 05, 2008
How Lame Is That Duck?
The Airlines don't use 747s much anymore. Even though they can carry hundreds of people, halfway around the World without refueling, they aren't fuel efficient. They are just too big, too heavy, to economically carry their own weight, as well as the passengers and freight and turn a profit. The purchase price and operating costs are just too prohibitive. The only thing they are really good for, is to be ostentatious.
They are preflighting and fueling up a 747 right now, with thousands of gallons jet fuel, outside of Washington, to take one drooling retard, to a series of meetings in Japan, with a group of men who are loathe to see him. What is the point of ostentation. The retard doesn't care. The men he meets with, will ignore him. We could send the retard off to Six Flags with a troop of Brownies, on a school bus, he would never know the difference and have a better time. It just doesn't make any sense.
Our country is deeply in debt. We are saddled with multiple, costly, foreign wars, on multiple continents against entities that the American pubic is not even clear who they are or why we are fighting them. Iraq, Afghanistan, Pakistan and Columbia, to name a few. Taxes have been slashed and spending massively increased and not only for the wars. Every time you turn around, another spending bill passes and the President signs it. They're all good things, disaster relief, veterans care and education, health care for the aged. The problem is, there is no money. The retard solves this problem by printing money. This worked for a little while, until there was so much new money floating around, that it became largely worthless. It will soon be the case that no amount of money will be enough to pay for the obligations incurred by government. Unfortunately, it will also be the case that no amount of money will be enough to pay for the food and fuel that the American people have become accustomed to consuming.
When that happens, people will begin to take notice. Man, we are really fucked.
They are preflighting and fueling up a 747 right now, with thousands of gallons jet fuel, outside of Washington, to take one drooling retard, to a series of meetings in Japan, with a group of men who are loathe to see him. What is the point of ostentation. The retard doesn't care. The men he meets with, will ignore him. We could send the retard off to Six Flags with a troop of Brownies, on a school bus, he would never know the difference and have a better time. It just doesn't make any sense.
Our country is deeply in debt. We are saddled with multiple, costly, foreign wars, on multiple continents against entities that the American pubic is not even clear who they are or why we are fighting them. Iraq, Afghanistan, Pakistan and Columbia, to name a few. Taxes have been slashed and spending massively increased and not only for the wars. Every time you turn around, another spending bill passes and the President signs it. They're all good things, disaster relief, veterans care and education, health care for the aged. The problem is, there is no money. The retard solves this problem by printing money. This worked for a little while, until there was so much new money floating around, that it became largely worthless. It will soon be the case that no amount of money will be enough to pay for the obligations incurred by government. Unfortunately, it will also be the case that no amount of money will be enough to pay for the food and fuel that the American people have become accustomed to consuming.
When that happens, people will begin to take notice. Man, we are really fucked.
Never Speak Ill Of the Dead, Rest In Peace Jesse
The reason I respected Jesse Helms, is that he never lied about what he was. Modern fundo-fascist politicians and religious leaders, hide the fact that they are racist, sexist, religiously intolerant, self loathing xenophobes, behind a carefully constructed screen of soothing rhetoric. Jesse never did that. Good for him.
Now that he's dead, I hope he has joined the rest of his hateful, backstabbing, blood brothers, someplace where they can all be together, free from the polluting influence, of those they so despised and that the rest of his ilk, still above ground, join him soon.
Now that he's dead, I hope he has joined the rest of his hateful, backstabbing, blood brothers, someplace where they can all be together, free from the polluting influence, of those they so despised and that the rest of his ilk, still above ground, join him soon.
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