Day: January 28, 2011

2011 Anal-Ocity #5

WTF?  Now that I have set up my segway…..Our fav, Sarah Palin when interviewed on FOX News after the SOTU speech just could not let her lame diatribes be enough….once again she is against everything and has NO clue what to do or for that matter what she is talking about…..and some say she will run for the nomination of the GOP…..that oughta get the Dems jerking off in the corner……

Beyond all that, she has made it into the anal-ocity, as usual, when talking about the “Sputnik moment”…she said……

she made the astonishing claim that Sputnik “incurred so much debt at the time that it resulted in the inevitable collapse of the Soviet Union.”

Watch it for yourself……

mediamatters.org/mmtv/201101260…..

She has a very serious lack of grasp of history….but I will agree with her on one point…..USSR DID incur massive debt that lead to their downfall….but it was not Sputnik, but rather trying to keep up with the Reagan years of massive Defense spending…….

May I suggest that she, as well as many of her supporters, if the IQ ever makes it to 100….SELL!

Can Y’all Hear Me Now?

I have been one of those people that have been blaming Clinton and his Boyz and banks for the economic crisis we are in now…..some say it is NOT justified…..but I say….WAKE UP!

In a recent report from the Financial Crisis Inquiry Commission the findings just add to my disgust with what politicians allowed to happen to our country…..

“The crisis was the result of human action and inaction, not of Mother Nature or models gone haywire,” the report said.

“The captains of finance and the public stewards of our financial system ignored warnings and failed to question, understand and manage evolving risks within a system essential to the well-being of the American public.

The damning report criticised the extent of the financial deregulation overseen by the former chairman of the Federal Reserve, Alan Greenspan.

It concluded that the crisis was caused by a number of factors:

  • Failures in financial regulation, including the Federal Reserve’s failure “to stem the tide of toxic mortgages”
  • A breakdown in corporate governance that led to “reckless” actions and excessive risk taking by financial institutions
  • Households taking on too much debt
  • A lack of understanding of the financial system on behalf of policymakers
  • Fundamental breaches in accountability and ethics “at all levels”.

It added that “collapsing mortgage-lending standards” and the packaging-up of mortgage-related debt into investment vehicles “lit and spread the flame of contagion”.

Points one and two were covered by Glass-Steagall aand the last one was a screw up by the people that were in Washington…..

And then there is a very predictable reaction to the report…….Only the six Democrat members of the 10-strong commission, set up in May 2009, endorsed the report’s findings.  Kinda like saying …”it is not our fault”….where is the responsibility?  Oh sorry….that pertains to us humans…not our politicians……some of the causes according to the dissenting GOPers…..

The GOP report said: “All these factors were supplemented by government policies … that subsidized homeownership but created hidden costs to taxpayers and the economy. Elected officials of both parties pushed housing subsidies too far.”

CREDIT BUBBLE. A credit bubble caused by global capital flows into the United States and Europe from China and other developing nations reduced interest rates and encouraged risky lending. “U.S. monetary policy may have contributed to the credit bubble but did not cause it,” says the dissent.

HOUSING BUBBLE. A housing bubble emerged that was caused by “many factors,” including population growth in “Sand States” such as Arizona, Florida, Nevada and California.

SUBPRIME LENDING. Subprime mortgage lending exploded and was often deceptive and confusing, fueled by cheap credit. Leading lenders were Countrywide, Washington Mutual, Ameriquest and HSBC Financial. This amplified the housing bubble.

And I have a flash for y’all….it will happen again…..the reform that the prez is so proud of has NOT addressed the problems that were the cause of our financial grief…….keep in mind….I WILL say…”I Told You So”……

Are Banks The Anti-Christ?

The Anti-Christ?  an interesting word…..people have being seeing this boogey man since the term was first used….people, places and things have been accused of being this problem….so I thought I would join in the fun…..

If you listen to the news or read a newspaper or site, then you are well aware of what is being said about the banks….stuff like……and we can throw the Fed in there also…….

  • It concentrated the nation’s financial strength in a single institution.
  • It exposed the government to control by foreign interests.
  • It served mainly to make the rich richer.
  • It exercised too much control over members of Congress.
  • It favored northeastern states over southern and western states.
  • Banks are controlled by a few select families.
  • Banks have a long history of instigating wars between nations, forcing them to borrow funding to pay for them.

You have heard all the accusations…..and the way they are behaving they seem to be true….but look at the list again….see anything unusual?

No?  Those accusations are not something made up a couple of weeks or months ago….but rather back in the 1830’s or so….those were the arguments that Andrew Jackson made as a justification to why he vetoed the charter of the national bank……

Interesting, huh?

Seems that after about a 170 years not much has changed when it comes to banks…they were screwing the American people then and they are screwing us NOW!

Of course they are NOT the anti-Christ….but if one looks for a villain in the current economic crisis…..the look no further than the big banks….and what they have gained from taxpayers money……

When will we ever learn?