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Showing posts from June, 2010

Coburn vs. Kagan on Commerce Clause

Elena Kagan can't bring herself to say the government doesn't have the right to dictate what we eat. Not only does she refuse to answer, but her babbling non-answer doesn't portray an intelligent mind.

Thank you, Senator Tom Coburn, for raising the issue of the abuse of the Commerce Clause, the most popular excuse for civil liberties violations from the left.

In other Elena Kagan greatest hits, she again sounds like a moron defending the Constitutionality of book-banning.

The Great Polling Swindle: Daily Kos gets had

Some enterprising statisticians saw some fishy numbers in the Daily Kos polls and did a little digging. It turns out that Research 2000, the pollsters Kos paid to do the polling, just pocketed his money and made up the numbers.

I love statistical sleuthing like this.

Kos may or may not be an innocent victim. At a minimum, his initial selection of Research 2000 was probably influenced by them showing him poll results that aligned with his political beliefs (and perhaps their low cost -- they didn't have to employ actual pollsters!), and he apparently didn't do much vetting of the organization before hiring them.

To Kos's credit, he's handling this far more honestly and gracefully than CBS handled RatherGate, CNN handled Eason Jordan and Susan Roesgen, the Washington Post handled JournoList, etc. The MSM could take a lesson from Kos:
Sure, our friends on the Right will get to take some cheap shots, and they should take advantage of the opportunity. But ultimately, this e…

Corruption at the DOJ: The Black Panther voter intimidation case

J. Christian Adams, a DOJ attorney who resigned in protest, speaks out.

"Monster" money-printing

Sound like the hysterical rantings of a crazed San Diego doom blogger?

Nope, it's sound advice from the Royal Bank of Scotland:
Andrew Roberts, credit chief at RBS, is advising clients to read the Bernanke text very closely because the Fed is soon going to have to the pull the lever on "monster" quantitative easing (QE)".

"We cannot stress enough how strongly we believe that a cliff-edge may be around the corner, for the global banking system (particularly in Europe) and for the global economy. Think the unthinkable," he said in a note to investors.

Roberts said the Fed will shift tack, resorting to the 1940s strategy of capping bond yields around 2pc by force majeure said this is the option "which I personally prefer".
Read the whole Ambrose Evans-Pritchard article. He's right on the money:
It is sobering that zero rates, QE a l'outrance, and an $800bn fiscal blitz should should have delivered so little. Just as it is sobering that Club Med b…

Tea Party goes global

San Diego's own Leslie Eastman happened to be on vacation in Italy when a Tea Party broke out.

Members of the trans-Atlantic resistance movement swapped notes and tactics.

Click on over to Temple of Mut for the story and pictures.

Welcome home, Leslie!

Klansman illness could sink FrankenDodd fake financial reform bill

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Not that a real financial reform bill is likely even if this one stalls, but it would at least re-open the possibility of addressing Too Big To Fail.

Ex-KKK leader and current Democratic Senator Robert Byrd's vote may be crucial to pass Frank (D - Fannie Mae) and Dodd's (D - Countrywide) fake financial reform bill.

Just like they did May 21 when the Senate passed the Dodd Permanent Too Big To Fail Bill, Wall Street bank stocks rallied Friday on word of House-Senate agreement on the bill:



UPDATE: The Klansman has died; analysts expect this to delay, not kill, the fake financial reform bill.

The state as force multiplication for the rich

A two-minute illustration by an anarchist that quite accurately captures today's crony capitalism corruption regime.

You did recognize Goldman Sachs and BP in that diagram, didn't you?

HT: SkepticalEye

Journogate: in other news, the sun still rises in the east

Charles M. Blows

The New York Times has a new deranged leftist columnist with the delightfully appropriate name Charles M. Blow.

Blow's delusional rant today is how Obama's miserable approval ratings are all the Republicans' fault:

[...] Republican lawmakers latched on to the word “no” like temperamental 2-year-olds. Their strategy: dictate by stalemate. It worked.
Oh, yeah. Remember how those dictators blocked Obama's $800 billion porkulus package? Remember how they stopped the continuing bailout of AIG? Remember how they blocked the bailout of Government Motors? Remember how they blocked Timmy the Tax Cheat's indefinite unlimited bailout of Fannie Mae and Freddie Mac? Remember how they stopped Obama's signature program, the nationalization of the health care industry, dead in its tracks?

Who's the dictator here? Republicans have refused to go along with Obama's overwhelmingly unpopular, un-Constitutional agenda, but they haven't had the votes to be more than a m…

BP TBTF

What is irony? In the case of BPTBTF I'll take definition 5 from Dictionary.com.

Bloomberg is reporting that "BP’s Demise Would Threaten U.S. Energy Security, Industry, Jobs". Do I smell an oily bailout?

What I find interesting about this first calculated shot across the taxpayer bow is that I know many people who voted for Obama purely on the "fact" that he was going to save the environment and planet Earth. He was going to be the first green President and protect us from all the evil polluting corporations.

Now under his administration, of course this has to somehow be GW's fault because no administration is actually capable of solving anything while they are in office, BP acted irresponsibly and possibly criminally in what has resulted in the worst environmental disaster in US history. And if some folks predictions are correct, this one might go down as the worst of all time as The Gulf of Mexico becomes the Gulf of oil.

So the suggestion of BP b…

Trading Places

As Obama plans to let the Bush tax cuts expire, raising capital gains, dividend, and other taxes, Russia is going the other way:
Russia will scrap capital gains tax on long-term direct investment from 2011, President Dmitry Medvedev has said.
And as Obama nationalizes the auto industry, the mortgage industry, the health care industry, the student loan industry, etc., Russia is going the other way:
He also said the number of "strategic" firms, in which foreign investment is restricted and which cannot be privatised, would fall from 280 to 41.
And while Obama punishes the private sector to reward government workers, Russia actually wants private industry:
"I would welcome real investors who can build factories, something new in this country."
Where we're going is where Russia is coming from:
Also, many investors have been wary of coming to Russia because of corruption and the dominant role the state plays in Russia's business life.
Sound familiar?

The Obama Presidency in Multimedia/Picture Form

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Words are overrated.

via @Optimus_Inc

via Obama Swears



What did I miss?

Skeptical CPA puts on the Zimbabwe Ben trade

Well done, sir!

In January, I shorted the dollar by taking out an enormous fixed-rate 30-year mortgage.

Now Skeptical CPA has bested my trade on several fronts.

1) He got an even lower fixed rate than I did thanks to the global financial panic pushing Treasuries to all-time low rates.

2) He bought in Texas, where real estate is not nearly as overvalued as in California.

3) He bought in Texas, which is not facing California's fiscal and economic meltdown.

Skeptical CPA, we salute you!

Everybody hates Carly

Carly Fiorina, who's gone from failed and despised CEO of Hewlett-Packard to hanger-on of the comically disastrous campaign of ultra-RINO John McCain, is finding no love in her next soon-to-fail endeavor.

Economic Recovery?

Today I had a peculiar experience; I was searching for a specific shirt and went to a vendor in town that isn't a chain. He didn't have it but had one that's close. I purchased it for $30. I then went to another store a couple of towns over that also wasn't a chain and they did have the exact shirt I was looking for. I purchased that. I then went back to the original store and tried the return the first shirt.

The guys reaction was so apprehensive and he said 'I'll tell you what, how about I put $10 back on the card you used and you keep the shirt.' Now it wasn't savings that struck me it was his vibe. This was the owner of the store and it felt like my return was going to put him under. To beg to put $10 back on the card to still keep the sale was a first for me.

I did keep the shirt for $10 cheaper.

A history of violence

Rep. Bob Etheridge, caught on YouTube recently assaulting a student reporter, has a history of bullying children.

Arsonist Alan Greenspan returns to the scene of the crime to lecture us about fire safety

This would be a reasonable op-ed, other than the fact that it was written by the idiot who destroyed the economy.

It's behind a paywall, but don't worry. There's nothing there that hasn't been said on the WCV many times over.

UPDATE: Free version here. Nice paywall, WSJ!

Donald Kohn is delusional

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"He says history will be kind to his ex-boss Alan Greenspan."

Good luck with that.

And in totally unrelated news, the dollar hit a new all-time low vs. gold today.

High school student 1, filthy rat politician 0

UPDATE: There's a full version, as well as a note on the abridged version above, here.

CalPERS, SEIU, Sovereignty, and Soviets

Given the recent post about CalPERS, now is a good time to remind WC readers that the word "Soviet" means "council" (or "Union") in Russian. Soviets were groups of workers' representatives in Russia. Basically, they were unions. They were even "unions of unions" (kinda like the AFL-CIO). The various "Soviets" steadily gained power in Russia in the early 1900's, and then they executed the 1917 Communist Revolution.

The Soviet Union was a government created by the Unions, of the Unions, and for the Unions. Now you might see why it was called the Union of Soviet Socialist Republics. It was a "Union of Soviets", a "Union of Unions", in a way. Lenin specifically included the word "Soviet" into the very name of the nation of which he had just taken control for the purpose of honoring the contributions of the Soviets and reminding the citizens that the Soviets were a central part of the new government itse…

W.C. Varones Blog welcomes its newest reader, President Barack Obama

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Thanks for stopping by, Mr. President. But while you're here, don't just check out Greenspan's Body Count. You want to know what comes next, don't you? And pay attention, sir. You or your successors are going to have to choose between inflation and default.

If you think my views are seditious, you should Flag Me, Obama.

CalPERS to raid bankrupt state budget to cover fatcat employee pensions

Government of the public employee unions, by the public employee unions, and for the public employee unions.
The pension fund board does not need legislative approval to boost the state's contribution rate.

Lefty Glenn Greenwald, of Sock-Puppetry Fame, Shows Some Integrity

Remarkably, he's one of the few lefties who publicly oppose Congressmen assaulting citizens.

I say this without sarcasm or malice. We've got to support lefty bloggers when they (oh, so rarely) do the right thing.

Greenspan's Body Count: Wayne and Herminia Zickefoose

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This shocking tale comes from Anaheim, California where two young boys survived attempted murder by their father.

The story is unbelievably horrible:
A wounded 3-year-old boy was found hiding outside his family's Southern California home, and his 5-year-old brother was found unhurt inside, 12 hours after their parents were fatally shot in an apparent murder-suicide, police said Monday.

The shootings happened late Sunday but weren't discovered until midmorning Monday, when a co-worker stopped by to see why the father hadn't reported to work, Anaheim Police Sgt. Tim Schmidt said.

The co-worker instructed the 5-year-old to call 911.

"He said his dad killed his mom and shot himself and he can't find his brother," Schmidt said.

When police arrived, they found the parents' bodies splayed out on lawn chairs in the backyard. From there, they followed a trail of blood leading to the wounded 3-year-old, who was hiding behind trash cans on the side of the house, Schmidt s…

Washington Post accuses Ron Paul of conflict of interest on gold standard

Death Panels come early to Arizona

... for Chandler, Arizona's Tiffany Tate:
The Arizona Health Care Cost Containment System announced it would stop paying for lung transplants as of Oct. 1.

AHCCCS officials say the cuts were necessary to keep the state's form of Medicaid from operating at a deficit.
This is obvious stuff. Health care is expensive. Government health care always means rationing.

Obama creates Behavior Modification Council

Because now that the government is responsible for everybody's health care, we can't have people making unhealthy choices that would be a burden on the state!

Off to the Exercise Camp with you, fatty!

HT: ZeroHedge

I need more porkulus!

What does the NAACP stand for?

This goes waaaay beyond stupid and oversensitive. This is so stupid it's like signs of the apocalypse stupid. The NAACP freaks out about a space-themed Hallmark card talking about black holes. They are sure it is a racist reference to "black whores."

What's worse? Hallmark panics and pulls the cards.







AP: Obama lied, your health care plan died

Associated Press:
Over and over in the health care debate, President Barack Obama said people who like their current coverage would be able to keep it.

But an early draft of an administration regulation estimates that many employers will be forced to make changes to their health plans under the new law. In just three years, a majority of workers—51 percent—will be in plans subject to new federal requirements, according to the draft.

We told you so!

These are the expensive mandates and rules that are reportedly pushing Qualcomm to slash its health care benefits.

Are you still loving your ObamaCare?

For more regular reporting on the ObamaCare debacle, please check out Beers with Demo. He's been much more attentive to the issue than I have.

Greenspan's Body Count: Tom Piazza

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Mortgage broker Thomas Piazza was executed Sopranos-style in a Tucson Chick-fil-A.
Thomas S. Piazza, 39, was sitting in a booth at the Chick-fil-A restaurant at 4585 N. Oracle Road about 6:45 a.m. when a man walked up to the table, pulled out a handgun and shot Piazza in the head, said Sgt. Fabian Pacheco, a Tucson Police Department spokesman.

The shooter -- who is described as being a stocky white man between the ages of 40 and 50, wearing a bike helmet, dark shorts and a dark windbreaker -- walked out of the restaurant and rode away on his bicycle, heading westbound on West Auto Mall Drive, Pacheco said.

"There was no provocation, no exchange of words, nothing," Pacheco said in explaining the incident.

Police continue to search for the gunman.

Piazza, a 1993 University of Arizona graduate, was married with four children.
Police believe the killing may be related to Piazza's role in a mortgage fraud ring that ripped off not only lenders but also small investors. One of the s…

Obama Labor Department says government workers live far better than the people who pay their salaries

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Not only much better benefits and job security, but much higher pay as well!



Hope you enjoy barely scraping by so that some government bureaucrat can retire at full pay at 60 or 65!

HT: T-Dub and JDA.

How bout I pour you a nice Brita pitcher full of the Gulf of Mexico?

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Republican Liberty Caucus: It's Alive!

Five years ago, I wrote off the Republican Liberty Caucus for dead.

Well, they're back, likely inspired by the Ron Paul and Tea Party movements, and they had a big night Tuesday.

28% of Americans are smoking some really good stuff

BP re-enacted by cats

HT: DV

And on a more serious note, a scuba diver's video of the ecological devastation.

President of bankrupt developer whines about the banks

You know this guy is full of crap if he gets me to defend Goldman Sachs.

In an op-ed in the Salem News, Michael D. "Mick" Pattinson, president of bankrupt developer Barratt American (builder of Leucadia's Rancho Tyvek Estates -- "Come for the tiny lots, stay for the low-income housing next door"), complains that it's not fair that some people on Wall Street recognized the housing bubble and bet that it would burst, or that some banks stopped lending to overleveraged developers as the housing market cratered.

The developer industry spent millions of dollars lobbying Congress to keep the housing bubble going with tax incentives, lax lending standards, and easy credit from an alphabet soup of government and quasi-government agencies including FHA, Fannie Mae, Freddie Mac, and the Federal Reserve. I didn't hear Mr. Pattinson complaining as he was getting rich from the funny-money-fueled bubble. In fact, Pattinson was a frequentcontributor to the industry…

Tomorrow's news today: primary election results

It looks like it was a good day nationally, and a bad day in California.

Senator Blanche ObamaCare Lincoln lost her primary in Arkansas and will be retiring, and conservative candidate Sharron Angle beat establishment candidate Sue Lowden in Nevada.

In California, no good news. Carly FAILorina, a RINO McCain-wannabe, beat libertarianish Tom Campbell and Tea Party favorite Chuck DeVore. In a year when Barbara Boxer should be vulnerable, FAILorina is so widely despised even among Republicans that she will lose in a landslide.

Meg Whitman won easily and has a decent chance to beat Jerry Brown, at which point she will establish the second Schwarzenegger administration.

Prop. 14, which will eliminate third-party candidates from the general election, passed.

More bad news: RINOs Abel Maldonado and Mike Villines, who voted for the biggest state tax increase in the history of the U.S., won their primaries for higher offices.

That's how I see it playing out. Any deviation in California woul…

Cooperation, Goldman style

You see what happens, Larry, when you subpoena the wrong guys?

Goldman Sachs buries Fincial Crisis Inquiry Commission under 2.5 billion pages.
"We should not be forced to play 'Where's Waldo' on behalf of the American people," said Phil Angelides, the chairman of the inquiry commission, in an interview with reporters. "In our view their [Goldman Sachs] conduct has been extraordinary. They are outliers. The overwhelming number of people and institutions have complied and complied in a timely basis."

HT: T-Dub

Helen Thomas

So we have to wait until they are 89 years old, senile, and possibly had a few cocktails at lunch before the leftists in the mainstream media tell us what they really think.

UPDATE:She's gone! I don't know if that's a good thing. I like having the most vocal leftists on display to prominently show the MSM's bias.

The Great Education Scam gets widespread attention

We've been talking about the Great Education scam for a yearandahalf.

The theme is catching on with other bloggers and in the mainstream media. Today Instapundit's Glenn Reynolds writes an op-ed in the Washington Examiner, citing recent stories in the Washington Post and New York Times:
First -- as with the housing bubble -- cheap and readily available credit has let people borrow to finance education. They're willing to do so because of (1) consumer ignorance, as students (and, often, their parents) don't fully grasp just how harsh the impact of student loan payments will be after graduation; and (2) a belief that, whatever the cost, a college education is a necessary ticket to future prosperity.

Bubbles burst when there are no longer enough excessively optimistic and ignorant folks to fuel them. And there are signs that this is beginning to happen already.
Indeed.

On the other hand, if you can get a fixed-rate student loan, maybe you'll get lucky with a dollar collap…

Help a sister out

Friend of this blog JenO is doing a worthy fundraiser walk for the American Society for Suicide Prevention. With the fundraising deadline looming, she's had a tough go and needs $850 more. Let's put her over the top.

You can donate here.

Come on, with Alan Greenspan still on the loose, we need all the suicide prevention we can get. And it's tax deductible, meaning Barry O will pick up thirtysomething percent of your donation and if you're unfortunate enough to live in California, the Taxinator will pick up another 10%. That's like getting an almost 1-for-1 match!

Richard Fisher on fake financial reform, the Dirty Fed, and TBTF

Dissent within the Dirty Fed! Someone gets it on Too Big To Fail:
Big banks that took on high risks and generated unsustainable losses received a public benefit: TBTF support. As a result, more conservative banks were denied the market share that would have been theirs if mismanaged big banks had been allowed to go out of business. In essence, conservative banks faced publicly backed competition.

Let me make my sentiments clear: It is my view that, by propping up deeply troubled big banks, authorities have eroded market discipline in the financial system.

The system has become slanted not only toward bigness but also high risk. Consider regulators’ efforts to impose capital requirements on big banks. Clearly, if the central bank and regulators view any losses to big bank creditors as systemically disruptive, big bank debt will effectively reign on high in the capital structure. Big banks would love leverage even more, making regulatory attempts to mandate lower leverage in boom times al…

The brighter side of Big Brother

Hey, if we didn't have all these government cameras around recording us all the time, we'd miss moments like this.



In related news, while the cops can always record you, you might be arrested for recording the cops.

American Idiot

Left Coast Rebel points out that two thirds of Americans can't name a single Supreme Court Justice.

I'd like to turn this issue on its head and ask why should the whims of Justices be so important in our lives that we should need to know their names. The Constitution set out rights of individuals and restrictions on the powers of government to meddle in our lives. I think the founders would be horrified to learn that Washington power is so all-encompassing in our daily lives that we follow every Presidential and Congressional election and every Supreme Court nomination as if our livelihoods depend on them (which they do, in Obama Nation, of course!).

Free Rent Nation

Here at the WCV, we've been advising underwater homedebtors to stop paying their mortgages for years.

May 2008:
If your loan balance exceeds your home's value, stop paying your mortgage immediately. Remember, in the Bernanke/Pelosi/McCain world, the responsible get screwed, and the reckless get rewarded. If you stop paying your mortgage, your bank will either voluntary renegotiate the terms, or Congress will force them to do it. If you keep paying on an underwater house, you're just throwing good money after bad. October 2008:
You've already saved ten or twenty thousand dollars, and have you noticed that the bank is still not bothering you? Keep living rent-free. When the bank (or government) finally does get around to calling you, they'll be very nice and accommodative, and they'll negotiate a very nice principal reduction for you.
May 2009:
If the banks are going to delay foreclosure for at least a year due to political pressure, operational capacit…

Voters' guide to California and San Diego propositions

Last week we gave our picks for the June primary ballot.

Today, our friend and local Tea Party founder Leslie Eastman gives her picks.