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Showing posts from February, 2010

True Fiscal Insanity

Printing money to buy government debt.

Q. What do you get when you cross Hunter S. Thompson and Ron Paul?

A. The Mogambo Guru, who eviscerates the Dirty Fed with true Gonzo style.

Tea Party pics

I'm not going to have time to get my pics up.

Fortunately, Leslie Eastman has a post chock full of pics.

And The Liberator has a great post as well.

Big turnout at San Diego Tea Party

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This picture doesn't do it justice. The crowd is so thick I can't see the speakers or get to most of the booths. It's shoulder-to-shoulder all the way from the harbor to the street, more packed than I remember other Tea Parties here.

This is way more than I expected given the morning downpour. And despite threats of further drenching, the sun came out right as the party started.

Hundreds of Tea Partiers in good spirits, and across the street 30 or so counter-protesters. Ironically, many of the counter-protesters had signs protesting Obama policies like the war in Afghanistan.

Default: The American Way

In a story on reality creeping into the Cheerleading Nitwits Bubble Channel, Michael Panzner links this video of Kenneth Rogoff being interviewed by Keynesian Kool-Aid drinker Steve Liesman.

Bottom line is that countries default all the time. And the United States defaulted in 1933. I found the history of that default in American Spectator fascinating. The U.S. had issued bonds with the explicit promise of gold backing. Then when the debt burden got too difficult, FDR and Congress decided to unilaterally violate the gold clause, devalue the dollar, and pay people off in cheap paper money instead of the gold-convertible sound money they had been contractually promised. If that's not default, I don't know what is.

Now this time around, the government won't have to legally default, because they never promised current bondholders that dollars would be exchangeable for gold or worth anything at all. They can print a one-trillion-dollar bill and ship it to China marked "…

Coming around

CNN Poll:
A majority of Americans think the federal government poses a threat to rights of Americans, according to a new national poll.

Fifty-six percent of people questioned in a CNN/Opinion Research Corporation survey released Friday say they think the federal government's become so large and powerful that it poses an immediate threat to the rights and freedoms of ordinary citizens.
Something is happening here, but you don't know what it is. Do you, Mr. Jones?

Escondido/Poway Serial Killer? Chelsea King & Amber Dubois

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Poway High School senior Chelsea King just disappeared while running.

This is in the same area of inland north San Diego County where 14-year-old Amber Dubois disappeared last year. The Escondido police blew that case off as a likely runaway, though friends and family vehemently denied that possibility. Remember, this is the same incompetent Escondido Police Department that bullied an innocent child into confessing to murdering his sister.

Here's Chelsea, in hopes that someone has seen her. If you have, please call the San Diego Police, not the Escondido Police, at (619) 531-2000.

See you at the San Diego Tea Party Saturday

By the Star of India on the harbor downtown at 11am. Details here.

Brilliant

Check this out before ESPN makes them take down the video:

Haaaahaaa!

Greatest unintentional irony / eerie prophesy quote of all time

The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
- Alan Greenspan, June 10, 1999, almost nine years before the official record of Greenspan's Body Count began.

HT: Jeff

Greenspan's Body Count: Christopher Oetting

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When Alan Greenspan blew the mother of all bubbles, there was so much free money floating around that crooks found was easier to make money committing mortgage fraud than dealing drugs or robbing banks.

Palm Desert's Christopher Oetting got involved in just such a mortgage fraud ring:
Police say a Palm Desert businessman who pleaded guilty to taking part in a $150 million mortgage scam has hanged himself.

47-year-old Christopher Oetting was found dead in a home on Sagewood Drive in Palm Desert Tuesday, according to the Riverside County Sheriff's Deparment. He was heading to federal prison in just a few weeks.

Oetting was one of seven co-conspirators who created false companies that officials say led to more than 200 homeowners losing their homes to foreclosure.

The kingpin - James Duncan - even made a Youtube video to lure investors.
More details about the scam here:
An investor would buy two, three or as many as eight houses within days of each other. Stonewood would apply for loan…

Obama and Dems on Nuclear Option

You gotta watch this one. It's a Who's Who of Dems condemning one-party rule and the Nuclear Option.

Breitbart

Mrs. Reid might fall down the stairs in November

Harry Reid: "Men, when they're out of work, tend to become abusive"
"Many people regard a man's balls and penis as one and the same; in fact, there is a vas deferens between them."
-Charlie McDanger's page-a-day calendar

Like the Post Office isn't "industry friendly" to UPS

Toyota says Obama and Congressional Democrats are not "industry friendly."

News flash, geniuses: it's not an industry thing. They are your competitors. The Obama Administration owns Government Motors. You don't see them busting GM's balls about regulatory issues, do you? Quite the contrary, they're still using the fake bank "Ally Bank" to funnel taxpayer dollars to fund cheap financing for Government Motors vehicles.

If Toyota won't surrender to UAW demands and start writing big checks to Democrat campaign funds, they're in for the Dr. Jellyfinger treatment.

Competitive devaluation

Mish:
Krugman wants a weaker dollar, Mundell wants a weaker Euro, Japan wants a weaker Yen, and everyone wants a stronger Yuan except China.

It is impossible for everyone to get what they want: a weaker currency vs. everyone else hoping to stimulate exports.

Academia is never concerned with such details.
My money is on Zimbabwe Ben. He's a more fanatical debaser of the currency than his European counterparts. The Eurozone will break up before they'll print enough to keep up with ZB.

What's for dinner?

Adventures with TSA: JDA's Return Trip

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If you read my first entry on SFO to DFW here on WC Varones, you know I had absolutely no problems getting through TSA with a DMV printout (no photo) and a Costco card. Even better, my plane had WiFi so the story was up before I landed and dropped off the planet.

Fast-forward five days and I'm leaving DFW to return home to SFO. I'm not happy to report the return trip was not nearly as easy.

First of all, since my partner in crime (who got more *ahem* hassle than I on his way to DFW) and I were flying from different airlines, we had to go through different checkpoints and meet up after that. Lame.

Then I had to get past American Airlines. She politely checked my bag and talked to me about San Francisco while ripping up my pre-printed boarding pass and reprinting one with SSSS clearly written on the corner. That means I'm on "the List" forever or at the least flying as a "selectee" for the first time.

She smiled all the while and never mentioned it.

The SSSS i…

Ron Paul wins CPAC straw poll

This means at least some Republicans are starting to get the message: It's the Big Government, Stupid.

Fox News:
Ron Paul has ended Mitt Romney's three-year run as conservatives' favorite for president, taking 31 percent of the vote in the Conservative Political Action Conference's annual straw poll.

Paul, a Republican congressman from Texas known for his libertarian views, ran for president in 2008 but was never a serious contender for the GOP nomination.
Ron Paul will never be a serious contender for the GOP nomination. But his son Rand might be sooner than you expect.

UPDATE: Issue polls confirm gay marriage not at all important to CPAC attendees. It's gonna be a bright, bright, sunshiney day!

Exactly how screwed are we?

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How bad is the US debt crisis? Let's head on over to usgovernmentspending.com to see:



We are rapidly approaching the all-time record debt/GDP levels seen in World War II. The Greatest Generation sent millions of troops and countless tons of war machinery halfway around the world to stop the Axis' plans for world domination. We bailed out housing speculators.

But if World War II is the closest comparable debt burden, perhaps the way out of WWII debt will show us a way out of the current crisis. After all, look how nicely the debt/GDP ratio drops to reasonable levels so quickly after WWII.

Here's what Truman did:



He slashed spending by 67%, from $107 billion in 1945 to $36 billion in 1948. That, plus a little moderate inflation and some real GDP growth, brought down debt/GDP.

Now, I know Obama can't slash the federal government by 67% in three years, but he'll at least trim it a little, right? Didn't he just say something about fiscal responsibility and getting the de…

Obama's Many Factory Tour Faces

I've expressed curiosity about Obama's Neck Problem on this blog before, but here is a clever look at how Dear Leader feigns interest when he does all those photo-op factory tours.

Zing

A Yahoo blogger, on the outcome of the men's Olympic free skate on Thursday:
Figure skating gets no respect because of outcomes like this...I am going to watch hockey, where athletes are allowed to push the envelope. A real sport.Normal sports blather, I'd say, except for the identity of the blogger: two-time silver medalist Elvis Stojko.

Greece plays the Hitler card

Greece to Germany: "So what if we cheated on our deficits for EU membership? You still owe us for HITLER!"

Not entirely stuck in the 70's

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As we're enduring the second Carter Administration, let's look at some of the progress we've made since the 70's.

Schools: 50% more teachers per pupil and how's that working out for ya?


HT: T-Dub.

And federal spending. I hope you love your government 3.5 3.2 times as much as you did in 1970, because that's how much more they are spending, even adjusted for inflation.

Stuck in the 70's

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Welcome to Stagflation Nation

Jobless Claims in U.S. Increased 31,000 Last Week to 473,000

Producer price index up 4.6%

How's that stimulus working for you?


Photo credit: Israpundit

More FDR Vs. Obama Spending/GDP

Here's another presentation, from 2/8/10, on the same comparison (see earlier post) between FDR's spending and Obama's as a percentage of GDP.

Obama blows past FDR as most reckless spender of all time

Terrence P. Jeffery:
In the first eight fiscal years of FDR’s presidency, before Japan attacked Pearl Harbor, federal spending as a percentage of GDP never exceeded 12 (despite the Depression). During those years, it averaged only 9.85 percent. Under Obama, annual spending as a percentage of GDP will average almost two-and-a-half times that much.

In fiscal 1942, when the U.S. started dramatically ramping up expenditures to fight World War II, federal spending equaled 24.3 percent of GDP. In 2010, the first full fiscal year of the Obama era, spending will reach 25.4 percent of GDP.

Leaders are for sheep

Leslie Eastman: Tea Partiers don't need any steenkin' leaders.

Related, Glenn Reynolds: What I saw at the Tea Party Convention.
Press attention focused on Sarah Palin's speech, which was well-received by the crowd. But the attendees I met weren't looking to her for direction. They were hoping she would move in theirs. Right now, the tea party isn't looking for leaders so much as leaders are looking to align themselves with the tea party.

UPDATE: Michael Reagan: Ronald Reagan would applaud the Tea Party movement. Is there any doubt he would? Reagan would have been a Tea Partier in his younger days.

Rand Paul favored to win KY primary

Intrade, the online betting market, has Rand Paul a favorite to win the primary.

If he wins the primary, he'd likely be favored against any Democrat to win the general election.

This looks like a real chance to get a real libertarian in the Senate!

Today is MoneyBomb day for the Liberty Slate candidates. You can donate to Rand Paul here and other Liberty Slate candidates here.

Gone rogue: Hoenig exposes the joke known as "Fed independence"

FT:
The US must fix its growing debt problems or risk a new financial crisis, Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, warned on Tuesday, adding a mounting deficit could spur inflation.

Mr Hoenig said that rising debt was infringing on the central bank’s ability to fulfil its goals of maintaining price stability and long-term economic growth. “Stunning” deficit projections were putting political pressure on the Fed to keep interest rates low, infringing on its independence at the risk of inflation, he said.

“Without pre-emptive action, the US risks its next crisis,” Mr Hoenig said in a speech at the Pew-Peterson Commission on Budget Reform.

He was the only Fed member who dissented at last month’s meeting against language indicating that interest rates should remain near zero for an “extended period”.

On Tuesday he said that the worst option for the US was a scenario where the government “knocks on the central bank’s door” and asks it to print more money.
I'm …

If there's one thing Lou Dobbs hates more than Mexicans, it's the Dirty Fed

Steve Forbes interviews Lou Dobbs:
Dobbs: I don't think there's any question that the Fed has missed, grievously, a number of its policy choices, not understanding the bubbles that it was creating. And this is, if you will, a Greenspan-Bernanke responsibility. Because their failures absolutely conflate. And Bernanke unfortunately carries on some of those failures that began with Greenspan. But the lack of understanding, it seems to me, that they have a regulatory role, which they advocated. Secondly they seem to pay, for whatever reason, no attention whatsoever to the impact, the consequences of low interest rates and expansive monetary policy. Peculiar because everyone is fond of saying elections have consequences. So does Fed policy. And we are going through, I think, in large measure, some of the consequences that find their origin principally at the Fed.

Forbes: It's amazing. When the Fed messes up the free markets get the rap.

Dobbs: Exactly, exactly. And that may contin…

Terrorists Don't Use Costco Anyway, Right?

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"Grandpa! What did I tell you about smuggling explosives in your orthopedics?!"



Good news, kids, all it takes to get on a domestic flight these days is the following:

a (current) DMV printout (no photo)
a Costco card with horrible photo (the last name need not match)a credit card (again, last name irrelevant however this may only work if you are a female who could easily claim any one of the mismatched names as your "married name". TSA doesn't have to know about those three weeks when I lived in Reno at 18 years old... *cough*)
And here I was worried about losing my passport two months ago on a flight back from Chicago and the State of California taking too long to mail me my driver's license in time for my flight this afternoon to Dallas! Who needs it? (A quick call to the TSA revealed an airline loophole: the TSA themselves informed me that the hardest part would be convincing the airline to let me on without valid government-issued ID, therefore it would be …

The Great Education Scam makes the Wall Street Journal

Last year, we discussed The Great Education Scam:
Just as the real estate industry suckered millions of Americans into taking on crushing debt to own a home because home ownership was the Meaning of Life, the education industry has suckered millions of Americans into taking on crushing debt to go to school because education is the Meaning of Life.

[...]

And like the housing bubble, the education bubble was created with easy money. If people actually had to save for college, colleges couldn't charge $40,000 a year. But when student-victims can be swindled into signing a lifetime debt agreement, colleges can charge whatever they want.
And:
Just as with the housing bubble, consumers are now realizing they overpaid. Unlike a house, though, when you're underwater on your education, you can't walk away. Student loan laws make borrowers debt slaves forever, with the debt immune from discharge even in bankruptcy.
This weekend, the Wall Street Journal chimed in:
When Michelle Bisutti, a 4…

Happy Valentine's Day!

Beers with Demo says, "Love to smash the statists!"

Orange County Tea Party pics - Laguna Hills, 2/13/10

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Let me lead off with a video of Mason Weaver. He was one of the highlights along with Chuck DeVore and Damon Dunn.




It was a full ballroom.


The Campaign for Liberty and other libertarian-types were there, and co-existed peacefully with old-school OC religious conservatives.




My peeps!


This Arizona ACORN guy and his friend loitered around the ballroom doors with their cameras looking for racists and Nazis. They didn't find any; just a bunch of friendly folk who've had enough of bailouts, borrowing, and spending.


Seated at the table is Mason Weaver, San Diego Congressional candidate and original Tea Partier.







This is Damon Dunn, an awesome speaker and a true small-government conservative running for Secretary of State.


Dr. Obama Joker checks his rationing list.


This is Chuck DeVore, the only fiscal conservative in the Senate race and the only candidate who respects the Tea Party movement.







San Diego's own Tea Party founder Dawn Wildman gave a great speech as well, though my pics and vi…

OC Tea Party

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Chuck DeVore to appear soon.

Gay global warmists for Jerry Brown

Over on the Jerry Brown Facebook page, nearly all of the global warmists commenting in support of AB32 appear to be gay. Not that there's anything wrong with that.

What's the connection?

How Big Pharma bought off the Obama Administration

See the sausage made here.

Happy Gerard Finneran Day!

This Monday, as you're hitting the slopes or otherwise enjoying the three-day weekend, please remember the man behind the holiday: Gerard Finneran.

Gerard Finneran was born February 16, 1937. Truly a renaissance man, Finneran was a multi-sport athlete who went on to an extraordinarily successful career in banking. The details of Finneran's long and storied career are chronicled here in a 2005 obituary. But he will always be remembered for that one, shining moment. A quarterback for the Air Force Academy, Finneran would come to be known for a far greater feat in the air.
... on a flight back from Buenos Aires to New York, Mr. Finneran had a bit too much to drink.

He drank snowballs and other cocktails, starting before take-off and continuing until a flight attendant decided that it would not be appropriate to serve him any more. He assaulted her, then then started shouting "Fuck the President, fuck him in the ass" while serving himself from the trolley. (History does not…

Leftie Berkeley Newspaper Gets Ripped Off, Dies

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I did the extended version of the death of Berkeley's Daily Planet at Jr Deputy Accountant. Here's the short one.

First they got ripped off by a sketchy payroll company run by a bunch of right-wing nutjobs (?):

The Berkeley Daily Planet has discovered that the company that has prepared its payroll for eight years vanished from its Oakland office shortly after the first of this year, leaving behind a trail of unpaid taxes and embezzlement charges. The Planet is not the only victim of what looks like a major fraud and a possible Ponzi scheme worthy of Bernie Madoff—the company claimed that it had more than 100 clients. Most of them are small businesses or nonprofits, and it seems likely that most of them have been stung. The total take could be in the millions of dollars.

Clickbooks.com Inc. maintained a small dingy office in a warehouse on 98th Avenue. Clients who went there to pick up paychecks for their employees occasionally encountered founder Bill Norgren in the back room.…

ex-Goldman Sachs execs' One West Bank ripping off the taxpayers via no-lose FDIC deals

Watch this video at ThinkBigWorkSmall.

It's not hard for Goldmanites to rip off the taxpayers when they have influence over, and higher IQs than, Timmy the Tax Cheat and Sheila Bair.

Obama confuses crony capitalism oligarchy with free enterprise

... when he doesn't "begrudge" Lloyd Blankfein his $9 million bonus for Fed-sponsored, taxpayer-backstopped profits.
President Barack Obama said he doesn’t “begrudge” the $17 million bonus awarded to JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon or the $9 million issued to Goldman Sachs Group Inc. CEO Lloyd Blankfein, noting that some athletes take home more pay.

[...]

“I know both those guys; they are very savvy businessmen,” Obama said in the interview yesterday in the Oval Office with Bloomberg BusinessWeek, which will appear on newsstands Friday. “I, like most of the American people, don’t begrudge people success or wealth. That is part of the free- market system.”
Begrudge? Hell, the Obama Administration gave multi-million dollar packages to the bureaucrats running bankrupt government agencies Fannie Mae and Freddie Mac.

UPDATE:ABC News: Obama doesn't begrudge an "obscene" and "shameful" "outrage."

China's gameplan deadbeat broke-ass plastic duck junkie

I recall being at the last Fed protest with WC and JDA and WC suggested that China probably doesn't give a crap about the debt we owe them. He suggested they've already planned to write it off because they've made so much elsewhere they just consider it the cost of doing business.

This video states the same argument...without all the slurring, swearing and spitting.
the creditor and the deadbeat broke-ass plastic duck junkie

UPDATE: W.C. here. Awesome video. My thoughts on this subject from October here.

Goldman rats helped Greece cheat EU stability pact

Is there a financial crisis that Goldman Sachs didn't help create?

Just days after the New York Times tells us Goldman Sachs caused the AIG collapse, Germany's Der Spiegel tells us that Goldman helped Greece hide huge deficits.
Goldman Sachs helped the Greek government to mask the true extent of its deficit with the help of a derivatives deal that legally circumvented the EU Maastricht deficit rules. At some point the so-called cross currency swaps will mature, and swell the country's already bloated deficit.

[...]

Creative accounting took priority when it came to totting up government debt.Since 1999, the Maastricht rules threaten to slap hefty fines on euro member countries that exceed the budget deficit limit of three percent of gross domestic product. Total government debt mustn't exceed 60 percent.

The Greeks have never managed to stick to the 60 percent debt limit, and they only adhered to the three percent deficit ceiling with the help of blatant balance sheet cosmet…

NY Post sends frigid prude to test drive gay gigolo

Hilarity doesn't ensue. Pathetic all around.

HT: Ramblinboy

In Memoriam; Jack Murtha. Dead at age 77. Corrupt to the End

My condolences go out to his family and friends. I appreciate his service in Viet Nam. But it is sad to see how corrupt a man can get. Here in the CSPAN video below was Murtha at his best, taking a voice vote on a bill in his committee, hearing the committee's "no" votes easily outnumber the "yes" votes, and then throwing his gavel down to pass the vote off as a "yes".

You didn't think it could be this bad in Congress, did you? See, the problem was; the Committee voted "no", and Murtha single-handedly pushed the bill through as a "yes" anyway. Democracy? Republic? That is neither. I'll leave it to you to decide what it is.



Or perhaps this video of Murtha negotiating a bribe is more appropriate at this time.

The politics of personal destruction

When are we going to move beyond obsessing over candidates' personal lives?
The Democratic nominee for Illinois lieutenant governor has dropped out of the race less than a week after winning the nomination amid a political uproar about his past.

Scott Lee Cohen announced his decision Sunday night at a Chicago bar.

The pawn broker and owner of a cleaning supplies company won the nomination Tuesday. Since then, it has become widely know that he was accused of abusing his ex-wife and holding a knife to the throat of an ex-girlfriend.

The girlfriend herself had been charged with prostitution. He also admits using steroids in the past.
Where's moveon.org when you need them?

Undercover Boss

I'm no sucker for reality TV, but Undercover Boss was good.

Your Dirty Fed at work

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This from a USC fundraising letter:
Notice the price inflation in everyday items during the last 51 years that the Fed has been pretending to support "price stability." 1000% to 1300% inflation in less than one lifetime. You call that price stability?

And if you think that's bad, look at the one item on the list that's now financed largely by the consumer debt that the Dirty Fed loves to encourage: college tuition. 4,230% inflation!!!

Anyone who can look at this and still defend the existence of the Dirty Fed needs to have his head examined.

UPDATE:Skeptical CPA has an expanded list of items from that era with similar inflation.

Super Bowl Super Bowl Super Bowl!

"It's hard to underestimate the value of spectator sports to society; after all, not everyone is bright enough to read."
-Charlie McDanger's page-a-day calendar

Tim Tebow Super Bowl ad

You've heard about the Super Bowl pro-life ad featuring the inspiring story of Tim Tebow whose mother chose life?

Planned Parenthood is responding with an ad featuring Nate Kaeding.

Operation Tax the Poor

State and local governments have figured out that the rich are geographically mobile and financially able to decrease their taxable activities, so raising taxes on the rich will not generate more revenue (see Kah-lee-fornia). Obama hasn't figured this out yet, but the 2011-2012 revenue figures will give him a clue.

The poor, on the other hand, are screwed. You can tax the crap out of them and it only makes them poorer and less able to get away from the taxes. Phoenix is going to implement a food tax. SF Muni is raising fares three times in a row. How many poor people in Phoenix can escape to a better place? How many Muni riders can really telecommute or buy, maintain, fuel, and park a car instead?

Europe had this figured out a long time ago. Instead of getting so much of their revenue from high marginal personal and corporate income taxes, they have VAT (sales) taxes that keep the poor poor and keep revenue rolling in to feed the government beast.

Help end obesity: tease a fatty

Exhibit A: Kevin Federline.
"I looked pregnant. When I see pictures [of me] like that and people are calling me K- Fat, I had to do something about it."

Jump ball

Colorado, the swingiest of swing states, is going heavily Republican as a repudiation of Obamunism.

This just a couple years after going heavily Democratic as a repudiation of Bushism.

If the two major parties are paying attention, they should be aware that the huge, moderate/independent swing vote hates two things: 1) religious zealot social conservatives imposing their morals on others; and 2) tax, spend, and borrow leftists mortgaging our country's future.

It's a jump ball for the fiscal conservative, socially tolerant middle. So far, the Republicans are reaching for it. They are burying social issues and focusing 100% on the fiscal disaster. I recently attended a fundraiser that featured both a moderate Republican Congressman and a social con Republican Congressman. Both swore to a skeptical Republican audience that the social stuff was so far on the back burner that it wasn't even an issue. Democrats, not so much. They are doubling down on burying our children in d…

The wisdom of athletes

Q. Who is this guy? [Shows picture of Zimbabwe Ben]

A. Looks like a crook. He's just got that look about him, man. Like he's about to take everything you own.

At 00:45 of this video. HT: Sheff.

White House = the new Room Full of Mirrors

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A Room Full Of Mirrors

First Jimi Hendrix sang about one. Then Bruce Lee fought Mr. Han in one. Now President Obama lives in one!

According to this transcript of a radio discussion with people who have been inside the White House recently, the entire building has been virtually turned into A Room Full of Mirrors where the President sees his own face wherever he looks. Photos of Dear Leader are everywhere. The people's house has become the people's shrine to Obama. It's suggested that they might have even removed paintings of former presidents and replaced them with photos of Obama. Even the Oval Office is plastered with images of Obama, neck-problem and all.

I think the toughest task Obama faces in his life is tearing himself away from the mirror in the morning.

Demon Sheep: The Legend of Tom Campbell

I'm no fan of Carly Fiorina. I've seen her speak at a lunch, I've read her book, I've read all about her time at H-P.  People who worked with her at H-P hate her. She worked on the vile John McCain campaign.

Still, I've got to give her credit for this ad, which uses silliness and hyperbole to expose Tom Campbell's fake "fiscal conservatism."



My one quibble is that it's a little weird that almost all of the "us" people in the ad are white. At 0:57, there are three consecutive shots of white people, then at 1:00 a shot of four white people and a token light-skinned black woman (Harry Reid was not available for comment as to whether she had a Negro dialect). No Hispanics or Asians in California? My guess is that the ad creators were thinking "Our target audience of fiscal conservatives means cranky old racist white guys. Let's show a lot of unhappy white people." Carly's a saleswoman, through and through. Whatever …

Gold down

Gold took a beating today along with stocks and is back down near $1000 an ounce. People are freaking out over possible sovereign defaults in Greece, Portugal and elsewhere. Instead of heading for gold, they are dumping all assets and heading for Zimbabwe Ben dollars. I don't think faith in fiat currencies will last forever. If I weren't already betting the farm against the dollar by buying a house with a 30-year-fixed mortgage, I'd be adding more gold at these levels.

Nassim Nicholas Taleb: Every single human being should short Treasuries

BusinessWeak:
Nassim Nicholas Taleb, author of “The Black Swan,” said “every single human being” should bet U.S. Treasury bonds will decline, citing the policies of Federal Reserve Chairman Ben S. Bernanke and the Obama administration.

It’s “a no brainer” to sell short Treasuries, Taleb, a principal at Universa Investments LP in Santa Monica, California, said at a conference in Moscow today. “Every single human being should have that trade.”

Taleb said investors should bet on a rise in long-term U.S. Treasury yields, which move inversely to prices, as long as Bernanke and White House economic adviser Lawrence Summers are in office, without being more specific.

The Fed and U.S. agencies have lent, spent or guaranteed $9.66 trillion to lift the economy from the worst recession since the Great Depression, according to data compiled by Bloomberg. President Barack Obama has increased the U.S. marketable debt to a record $7.27 trillion as he tries to sustain the recovery from last year’s recess…

Retarded people angry about being compared to liberals

Politico:
The Special Olympics is disputing the White House claim that its chairman, Tim Shriver, accepted Rahm Emanuel's apology for calling liberals "retarded."

The Extinct Middle Class Get (Secretly) Backdoor Taxed

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In case you missed it, Reuters pulled an article about new Obama initiatives to tax the middle class to death. After a little digging, we find that it was at the White House's request. Really? Like we weren't going to find out.

Anyway, for posterity's sake and because we don't take orders from White House rats, here is the article in its entirety. JDA encourages ALL bloggers, threats to the regime, sound money advocates, and patriots to repost it - Reuters may not have a pair but we certainly do.

Original:
Backdoor taxes to hit middle class

By Terri Cullen – Mon Feb 1, 4:09 pm ET

NEW YORK (Reuters.com) --The Obama administration's plan to cut more than $1 trillion from the deficit over the next decade relies heavily on so-called backdoor tax increases that will result in a bigger tax bill for middle-class families.

In the 2010 budget tabled by President Barack Obama on Monday, the White House wants to let billions of dollars in tax breaks expire by the end of the year --…

Land of the formerly free

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America drops from "free" to just "mostly free" on the Index of Economic Freedom.
The latest index of economic freedom shows America falling fast, being ranked for the first time as "mostly free." We've fallen behind Canada, and it's look out below. Our accelerating descent into a command-and-control economy with government pulling the strings is taking its toll.The Heritage Foundation's 2010 index of leading economic indicators shows that the land of the free is only mostly free, falling to eighth in the world from sixth last year, now sandwiched between Canada and Denmark.

Our improbable nation

Check out Beers with Demo on the lust for liberty that inspired a revolution among those who could have been complacent.

Ponder that before you decide to blow off your next local Tea Party.

A republic, if you can keep it.