Day: March 26, 2009

It Is A “Pelosi Recession”?

Did I fall asleep and wake up in some Alternate reality?  Where after a recession of a Repub president somehow became the fault of a liberal?  I am still wondering how I got here from there.

It is the sole fault of one Nancy Pelosi, the speaker of the US House of Representatives, at least according to the National Republican Congressional Committee (NRCC).

Monday morning, the NRCC sent out a fundraising e-mail to supporters from Michigan Rep. Dave Camp. The subject line of the e-mail reads, “End the Pelosi Recession,” and much of the message is an attack on the speaker.

“Pelosi and her cronies know how they are going to continue to bail out big businesses, pay for their pet projects and spend billions of government dollars this year: massive tax hikes,” Camp writes. “To put it simply, the Democrats’ Budget spends too much, taxes too much and borrows too much. We must work together to end the ‘Pelosi Recession,’ and start to rebuild our economy with sound and fair principles.”

She has managed to single handedly bring down the economy while a sitting Republican president was at the helm of the economy for 24 of her 27 months as speaker.  Damn the power!

And if you listen to the Repubs in Congress they are quoting the memo word for word, “the budget spends too much, taxes too much, and borrows too much”…..good dog.,….you will be rewarded later.  Are these some of the same Repubs that voted for the largest ever tax increase in the House…like the “mouth Cantor?

Sorry, I digress.  Just how revelent can this party be when the best they can do is try to blame a liberal for a recession that started with a president of their own party?  These guys and gals become more silly with each passing day.

Don’t Worry, Be Happy

A week or more of rising markets and a one day rise of 500 points and all is gravy fore the big dogs on Wall Street.  Joy, joy…do the dance of joy….well only if you are a Wall Street trader…Main Street still SUCKS!

Everything being done is for Wall Street and those happy go lucky guys that put usd in this pickle that we are clawing our way out of as we speak.

Geithner got his long waited vote of confidence from Wall Street on Monday and Tuesday he profit taking began…..but is the worse over…tee hee…HELL NO!

Paul Krugman sees it for what it is.

“This is more than disappointing,” Krugman wrote in The New York Times. “”In fact it fills me with a sense of despair.”

“The Geithner scheme would offer a one-way bet: if asset values go up, the investors profit, but if they go down, the investors can walk away from their debt,” the Princeton University economist said, citing weekend reports outlining the plan.

“This isn’t really about letting markets work. It’s just an indirect, disguised way to subsidize purchases of bad assets,” he added.

Krugman called it a recycled idea of former Treasury Secretary Henry Paulson, who later abandoned the “cash for trash” proposal.

The Obama Admin is losing its window of opportunity to take control of the banks.  The economic bubble has a slow leak and soon it will be an out of control balloon filled with crap as it crash against the waiting wall.  And it will be messy, to say the least.

Yes, there is confidence but not where they need it….Main Street is not amusede.