What They Are Looking For Behind The Veil
Readers suggested a topic on the new administration. “I had hopes that Obama would bring in some new blood, to do some creative thinking on what needs to be done. But it appears that he is stocking his cabinet with Clinton area retreads/Democratic Party shills (Aka, the same people that had a big hand in generating this mess).”
“Just one question…..Have the Alt-A resets (and subsequent foreclosures) started to hit yet, and has it been “priced in” yet? Nobody seems to be talking about it in the MSM.”
Another said, “Yep, I gave up all hope for Soetero when he appointed Timothy Geithner to Treasury. Complete joke. Wait’ll we drop the bomb with Hillary and Rahm, too.”
One posted, “How could that be, the Hildabeast recently stated that ‘they’ will govern intelligently. LMFAO! ‘Gubmint intelligence.’”
A reply, “With all due respect, you and millions of others were very easily fooled. I could see another GWB/Clinton a mile away. McSame/Obama/Clinton/Bush. Convince me what you find from those four that stands him apart from the other three, will ya?”
And another. “He is just another empty suit that talks a lot and says nothing. Wash rinse and repeat, but the dumb masses can’t understand that and will follow along blindly and keep playing the blame game. The pols know it very well, our revolutionary backbone departed long ago.
One noted. “My alternative was voting for one of the ‘no way in hell will they win’ candidates, or voting for McCain……..not that McCain himself was so bad, but between his ‘heartbeat from the Presidency’ running mate, and knowing a vote for McCain was a vote for letting the current brand of neocon religious right Republitards keep their hands near the tiller…….”
“Obama hasn’t even been sworn yet…….the true test will be when someone in government admits that this Charlie-Foxtrot is too big to fix.”
“Maybe I should vote with my feet, next time. It will be fun if I beat the rush. Can’t wait until the Feds start telling people, ‘You can’t leave, until you settle your tab……..’”
And finally. “The thing with Hope is that one sees what they are looking for behind the veil.”
looks like the gold market is already looking behind the veil today … gold is surging in expectation of the most reckless monetary policy in history.
“gold is surging in expectation of the most reckless monetary policy in history”.
And boy oh boy are they gonna get it. Before long, B.O. is going to make Bush look like the Hetty Green of finance, and Bush was damn bad to say the least.
Yes, as I was quoted above, you can pretty much tell what’s gonna go down knowing that Geithner is the nominee for Treasury. That will more or less kill ANY chances of economic recovery right there.
The GOP had their chance. They were found wanting on every level imaginable.
Now the adults take over. Watch and learn.
ROTFLMAO
I am sure if capable you will watch and ‘learn’.
That was insightful! Thanks for the deep thoughts!
ROTFLMAO
What are you 12?
You seem bitter. Get over it.
The epic incompetence and hubris of the smirking chimp is being replaced by an insubstantial bon vivant who is surrounding himself with the same corrupt and mendacious clique that presided during the Clinton years. The Hollow Men of the GOP have been sent packing, but trust me, this new crowd will also be found lacking on every level. The only candidate who leveled with the American Sheeple and told the truth, Dr. Ron Paul, was never able to gain the support of more than 5% of the population, which is a sorry reflection of how easily duped 95% of the voters are these days.
It is amazing that people think that throwing out idiots and bringing in morons is change.
Hail to the thief.
Dead on.
I’ll take the Clinton years over the Bush years ANY DAY OF THE WEEK.
I remember a balanced budget and 8 years of relative peace and prosperity under Bill Clinton, all shenanigans aside.
Wow, talk about driving by looking at the rearview mirror?! Any room left in that cloud for ‘me’?
Remembering the Clinton years….
Rubin/Greenspan decided to allow the sweeps programs to be used and banks went to zero reserves. It flooded the market with money. I was angry back then because it was so close on the heels of the last bust where the S&Ls went under. I told everyone to mark my words cause the shyt would hit the fan someday soon.
Also remember the not thought out tax increases. My uncle was a boat salesman and started a company… almost destroyed by these policies that actually lowered revenues.
Then I remember the abuses of presidential power by Stephanopolis. Joy riding in the presidential helicopter to play golf.
The balanced budget was achieved because there were big revenues from the NAsdaq bubble along with Detroit making money while selling out the future. Meantime midwest democrats were busy undermining any meaningful initiative to lower gas consumption. If you remember correctly, Clinton and the democrats had several years to close that SUV loophole and work on fuel economy standards. If we had started back then we might have been able to do something about CO2 emissions, though i’m not sure they are a problem. Still it would have slowed excess consumption.
Oh the other “balanced budget” issues were borrowing against social security continued. And the congress and Clinton had the balls to look us in the face and say the budget was balanced.
There was substantial welfare reform. All for the good I think. We don’t want to increase the learned helplessness factor any more than we have too. So, that was under republican leadership. Also had the sweetheart deals NAFTA and China’s favored trade status. Though made “permanent” under Bush, and I prefer the term “indefinite”, that was a Clinton backed proposal.
After reading the blog today went back and rewatched the Rage against the Machine video “Testify”. You can look at the similarities between the candidates there, Gore and Bush. What was the big difference with Obama? I don’t know. We are probably going to have some inane conversation about the magic tax rate; or heath care.
Yeah, right, the “adults” proved it with their behavior towards Bush up there at the podium.
“Kindergarten is in session” is more appropriate.
http://www.wjno.com/cc-common/news/sections/newsarticle.html?feed=244038&article=4878923
I’m no Bush fan, but Obama’s faithful really showed their lack of class and culture by jeering him at the Inaugural.
There’s no text to the headline.
Why does that news site have so many links to raunchy sex stories?
He deserves to be jeered. He should have been impeached. He LIED to our faces and sold us to Chindia. He has the lowest approval rating of any President ever, and all he can say is that he was “disappointed” in others for not being more professional toward him. Can you believe that? HE was disappointed in US!
HEY!..Did anyone remember to turn Cheney upsidedown and shake out all of HIS “Launch Codes” ?
One would think that gold would have priced in this mess back in July when it was a foregone conclusion that the sheople would elect Mr. Socialist for POTUS.
looking at the charts (I’m looking mostly in other currencies) the surge began around October 2008, when the nominations for Obama’s team were unveiled.
July was before all of the banks tanked.
I am surprised has not broken $1k since then.
It has. Just not on the published spot prices. See the BB thread yesterday.
Seriously - in actuality there’s quite a tug of war going on between recessionary deflation pulling gold down vs. expectations of inflation (by some people) pulling it up. It remains to be seen who will win.
My thought would be that inflation will eventually - but it could be a long time out.
…the sheople would elect Mr. Socialist for POTUS.
That would be George W. Bush, who has spent more money bailing out his cronies than any president (Dem or Rep) in history.
It’s a shame if you think of yourself as conservative, because anyone who supported Bush Republicans is a hypocrite on the economic front.
Nope. I’m a liberal. You think a Democrap cannot be more socialist than a Republican? Read history!
I did read history…did you?
Let’s pretend, let’s just pretend, that Obama’s intent is to do the right thing without looking for partisan advantage, and that Congress is prepared to act in the public interest instead of in the special interests. I know, that requires just too much suspension of disbelief, but go along anyway. What actions should they take, and NOT take, to get the overall economy out of its dive with the least amount of collateral damage and cost to the Treasury?
The first thing they should do is shore up the private 401k’s and stock market accounts. I am sick of watching investors taking the losses so the pigs can keep eating.
Give us more tax write offs and help us pay so we can play another day!
ann gogh,
Ann, as much as it pains me to say it, I’d love to implement a criteria “checklist” for 401K approved investments. I’m so sick of seeing the workforce provide the “foil” for speculators and hedge funds to play off of.
Call it a “No Short List” or whatever but these were originally intended as “Savings Plans” ( not Speculation Plans ) I’m totally open to keeping Bernie Ebbers, Ken Lay and other assorted and freshly minted dirtbags out of the water supply as well.
Ridiculous. If you gambled your retirement money on an obviously overvalued stock market, then you (as a free person) are entitle to take your losses. A little personal responsibility goes a long way.
BigV,
Have you -ever- participated in a company sponsored 401K Plan? At all?
If you had you’d know that in many cases your “choices” are severely limited. In some cases as few as 5 different funds. When you do the math even with healthy and regular paycheck contributions virtually ‘none’ of us have the income to attain critical mass solely from money market returns. It’s pretty much a numeric impossibility.
Your point further deteriorates when consider that several money markets in this country “broke the buck”. So it’s not even a matter the plan participants “gambling”.
Slow down a little.
I never knew that anyone was forced to participate in any 401k scam. News to me!
When you do the math every financial scheme has a bit of Ponzi at the core.
No one is forced to participate, yet the msn, the continuous drumbeats for the past few decades were always to ‘participate in your corp 401k’. The drumbeats were always insinuating that corps Matched your funds, when in fact for many corps they do Not match. I joined and then one yr ago moved all funds into cash fund of 401k, Because once you put your funds into 401ks you can’t take it out.
DinOR is correct when saying that some corps, My corp comes to mind, have relative Few choices. In fact, this corp originally only offered 12 funds, and on top of it, the ceo/mgmnt of corp did the “managing” of those funds. I still don’t understand why there isn’t a class action lawsuit against the people and this corp.Finally they offered 25 fund choices. Whew..
Just because the devil has offered you a deal, it doesn’t mean you have to take it.
If it smells like a ponzi, it most likely is and that is my take on almost ALL retirement plans. Since the SEC couldn’t smell their own farts after chili night they would never find a problem with the 401k system.
I have always participated in my 401k’s. When the market got top heavy, I simply reallocated my money to the “savings fund”. I’ve never seen a 401k that didn’t have at least one bond fund, one large-cap fund, one mid-cap fund, and one small-cap fund. The bond fund would be the safest bet in that case. Most 401k’s also offer an MM fund and a savings-type fund that invests in “super-safe” synthetic bank contracts. You would only be at risk if the banks failed and the FDIC didn’t cover those banks.
Cashed in my 401k first market day this year… took me a 2 hr wait at the phone and fighting off countless suggestion to switch to an IRA etc…
Saved myself a loss of a few K already…. and probably by the end of the year all 401k’s will be frozen up and be non cashable (in theory you “don’t need it until you’re 59 1/2 ha ha ha)
Great input from everyone! This is the conversation we ’should’ be having.
No, no one mandates that you -have- to participate but I wouldn’t even consider… working for a company that not only didn’t provide a match let alone have a “plan” at all! Isn’t that kind of a red flag right there? That should hold true whether you want to participate or not. You should also feel free to turn down their Medical Benefits, Life Insurance, Disability Insurance, Dental Insurance and the use of the Employee Lunch Room.
In fact, to -further- display your sense of “self sufficiency” you should really stick it to the bastards by refusing to even use their free parking lot and park down the block! ( That’ll show ‘em! )
Guys, I’m just trying to engage an adult conversation about implementing a 401K Participant’s Bill of Rights, if you will. Hey, I’d love to see the old DBP make a comeback. The truth is, even with the Catch Up Clause ( which we never seem to discuss either… ) there’s no way you can come to close to the Contribution Limits of the 401K. Maybe we ’should’ talk about adjusting that too?
There would be no benefit to turning down the health insurance and parking lot, since those entities entail no risk to you. I would love it if my employer would let me choose between receiving the insurance and receiving the premium, but they won’t do it.
So DiNOr I take it you have never worked for a small company or for yourself?
Lol about the self-sufficiency comment. Don’t know how that really fits in with the whole 401k commentary, but I guess you have some reason for creating non sequiturs.
Anyway, the point I’m trying to make is that if anyone believes that a 401k is some type of savings plan they are deluded. Why would you send you hard earned “digits of exchange” off into the Wall Street hinterlands for the potential return of your money and not call it speculating?
If you go into these programs with your eyes wide open, then sure go for it and good luck to you.
The wild thing is I have an IRA and no 401k. But if banks and homeowners get rescued why can’t stock losses get a special handout too?
The banks are entities and the people who lost portfolio stuff were helping the economy grow by investing. Make it safe to invest President Obama!
santacruzsux,
Then what pray tell do you intend to retire on? Seriously, I’m open.
Yes I have worked for small companies, and wound up deeply regretting it! Even though they had a match, it is almost always done on a “cliff vesting” schedule or the most punitive instrument they can find? No thanks.
I currently work for myself and have for the last 6 years. I have a SEP/IRA and always make a point to pay myself first. ‘My’ point is that I have all the options in the world along with implementing Stop Loss Orders and… even leveraged instruments. I can sit here and trade my account all day if I like. But I realize that simply isn’t possible for most retirement plan participants, it’s not fair they’re painted into a corner.
It’s simply amazing to me because I started out this conversation but really -demanding- that financial products be “sanitized” before being allowed to get exposure on a 401K platform and this is the thanks I get.
I apologize if read your first post incorrectly or assumed something I shouldn’t have. My take is that “sanitized” dog doo is still dog doo.
As for what I will retire on? I have no idea as that time is too far away for me to even determine. I’ve seen far too many retirement “plans” blow up in peoples faces to even consider that I may even retire. No, I believe that I shall have some form of work that I will retire on. I have savings of cash (gamble), some stocks (gamble), property (gamble) and some metals (gamble) but have no faith that they will give me any comfortable retirement. After all that has transpired in the last year, how anyone can look at a retirement statement and believe that it has a basis in reality has a level of faith that I have never acquired.
Retirement for most people going forward will most likely be a few painful years of diminishing health when they are too feeble to work themselves directly into the grave.
When you buy or sell a used stock, you are speculating. When you hand $$ over to a company directly (such as with an IPO), you are investing. Either is a risk. If it weren’t a risk, then it wouldn’t offer you a return. To fix the stock market would destroy it.
Big V,
Chill out, girl! DinOR’s “one of us”, okay?
I have to say I’m mostly in DinOR’s camp here. Employer 401k plans are often quite limited (good luck finding one that lets you invest in gold or oil ETFs). And while IRAs are wide open, there’s generally no employer matching nor pre-tax contribution option (not at any companies I’ve worked for anyway). Given that I don’t want to get completely hosed on taxes b/c I live in a high-tax state (CA) and I have no other write-offs (no house, no kids), not taking the 401k at all –even in a bear market– is probably a bad option for me.
Of course anyone can opt out, opt for treasury-only or bond-only funds (have to be careful there) or a MM account. But the fact remains, choices are quite limited. Personally, I’d prefer employers just *open up* 401k options as wide as possible. That way, if I lose money, it’s 100% my fault –barring the firm handling the accounts isn’t Madoff & Assocociates, of course.
Abolish the so-called Federal Reserve, a private international banking cartel that buys and sells the politicians and policies at will.
Good luck with that.
I thought we were all about “hope” nowadays?
OK, I’ll play. For one thing, reward the financial institutions that were prudent. Give those banks the bailout money and let Citi, BofA, AIG, et al die an ugly death.
For that matter, reward anyone for doing the right thing and penalize those who don’t. Shut down Wall Street for a while, because this crap they’re pulling this AM is to let this new administration know who’s boss.
How about allowing peeps to write off a loss on their primary residence? Let’s bring that shadow inventory out of the shadows!
edge,
I’m all about “the Evil that we know” and I live by it. My problem with this approach is that flippers ( and I have a MUCH broader definition of that than most ) were allowed to pocket their gains tax free on the way UP and now we’re going to allow them to write off their losses on the way down!?
I’d rather see an expanded and more generous application of perhaps allowing people to write off other losses. After all, we haven’t adjusted the 3K Limit since the 70’s?
The problem with any kind of capital gains tax is that by holding assets for a period of time you lose via inflation. A lowered tax on capital gains vis a vis ordinary income should reflect the fact that you get your ordinary income immediately, whereas capital gains takes time and thus give exposure to inflation.
The real problem with the real estate cap gains exemption is the overly granular approach. Anything over 2 years is “long term”? Yeah right.
A sliding scale should apply. From 0 to 2 years RE cap gains should be taxed as ordinary income. From 2 to 5 years at say a 20% rate. From 5 to 10 years a 15% rate. From 10 to 15 years a 10% rate. From 15 to 20 years a 5% rate. After 20 years the cap gains shouldn’t be taxed at all.
This kind of tax plan would favor long-term home ownership but NOT support flippers.
Why should the government support long-term homeownership? Shouldn’t the market determine whether or not it makes sense to buy and hold? Where is it written in stone that borrowing and buying is always better for everyone than renting and saving?
Why should the government support long-term homeownership? Shouldn’t the market determine whether or not it makes sense to buy and hold?
That’s sooo un-American. I’m calling Homeland Security.
The problem with any kind of capital gains tax is that by holding assets for a period of time you lose via inflation.
The problem with *not* taxing capital gains (ot taxing them very lightly) compared to the heavy taxes levied on wages is that you are DIScouraging productive labor, while simultaneously ENcouraging asset speculation, leveraged paper trading, Wall Street “innovation”, etc.
Whatever you subsidize –either directly (corn/ethanol, sugar, welfare, illegal immigration, etc.) or indirectly (preferential tax treatment and bailouts for RE speculators, banks & money-changers), you get more of. Whatever you tax (relative to other asset classes), you get less of.
So, what could America use more of?:
(a) Leveraged financial market speculation that benefits the few at the expense of the many.
or…
(b) Productive labor that actually creates tangible value-added goods.
Once you know the answer to that, our tax policy choices become a lot easier.
That’s an interesting idea. If there *has* to be a freebie for people who made bad choices, I like that one.
edge,
Lost a post there and I agree with bringing things “into the light” but I sort of object on moral grounds. A lot of what led up to the bubble was the fact that you didn’t have to pay taxes on your cap. gains on the way UP, but now we’re going to give them a break on the way DOWN?
It’s been one of my big objections all along. When daytraders were being wiped out in the -last- incredibly embarrassing and unnecessary bubble, they were carrying forward their 3K loss per year forever! Where was the empathy for them?
No can do. You don’t have to pay taxes on the gains, so you can’t have a break on the loss. The shadow inventory needs no auxilary.
“What actions should they take, and NOT take, to get the overall economy out of its dive with the least amount of collateral damage and cost to the Treasury?”
Bring the troops home. Let the world police itself.
Agree 100% Al
Amen, Brother Al. No more neo-con pipe-dreams of “democratizing” sh*tholes like Iraq and Afghanistan that are manifestly unsuited for it. Come to think of it, the ignorance and gullibility displayed by most US voters makes me wonder if we as a people are still suited for democracy, which has become more like a mobocracy.
“Bring the troops home. Let the world police itself”.
Love to see it and close all of our bases around the globe. Since we are to blame for everything let them fend for themselves!
The howls heard world wide would be deafening! We could bankrupt many areas that depend on our bases, and that would be a good thing. Time to get the hell out of the way and let others live or die on their own accord!
Perp walks for the crooks - seriously.
I want to see Madoff, Mozillo, and countless others of the “big-whig” crooks who robbed millions (investors, home-buyers, taxpayers, etc.) rot in prison… REAL prison, not “white-collar” prison.
Then, start applying the pain to the typical scumbag mortage fraud crook who lied about his or her income, claimed a half-dozen homes as their primary residence, etc. These people should NOT get any bailouts or help saving their houses. If they lose it all, tough - crime doesn’t pay.
Finally, no bailouts for investment homes, rental properties, etc. If somebody was honest and is in danger of losing their primary residence - their only home - I can see some mercy being shown, but that’s it.
They keep talking about “restoring confidence” - how can we have any confidence in a system that rewards corruption on all levels? One cannot have a functioning society when it is clearly proven in broad daylight that being a crook pays far better than being a productive worker!
Pondering The Mess,
Well thought out post. I think that is -exactly- what the current administration is grappling with? Just___ How___ Crooked___Are___We as a nation!?
Yeah, we expect WS “suits” to game the system, but housewives from Hoboken, NJ? Sure, we expect people that -already- have criminal records to commit further fraud/crimes, but people that have never had an overdue library book?
Before we can even ‘talk’ about “restoring confidence” ( how about restoring ETHICS first!? )
RE: I want to see Madoff, Mozillo, and countless others of the “big-whig” crooks who robbed millions (investors, home-buyers, taxpayers, etc.) rot in prison… REAL prison, not “white-collar” prison.
The criminal sweep of the fraudsters needs to go right down to the lowest denominator meaning prosecution under RICO statues for the blatant collusion of mortgage loan officer, real estate agent and their “go-to” number hitting appraisers to intentionally mislead and defraud resulting in the complete destablization of the country’s real estate and finance industries.
The lies and deceptions which created this debacle started at the bottom.
Don’t forget the buyer who falsified their income and signed the docs as such. Then, when they’re foreclosed get forgiveness from a 1099 of the loss/loan over basis. I’m also paying for the home owner ‘crooks’. I say give them a 1099. I don’t want to bail this class out with ‘my’ money either.
They should bring back the tarrif and tax penalties for companies who offshore their labor. They should force importers from contries of known melamine to pay for an FDA inspector to test their wares at the port. These tried and true policies will stop the pandemonium that ensues when myriad economies are smashed together. The playing field must be evened. The countries who insist on playing by a different set of rules must be made to compete with us rather than parasitically benefitting from our success.
tariff
I always screw that one up.
+1
And add in “environmental policies” (and the expenses to meet them) as part of the level playing field discussion.
And minimum wages.
And Sobarnes-Oxley.
And a myriad of other government regulations (OSHA etc.) that push our jobs overseas.
Either force everyone to meet them (all countries), or no one.
‘And add in “environmental policies” (and the expenses to meet them) as part of the level playing field discussion.’
Gosh, no kidding. A friend of mine went to China last summer on a trade junket thingie and he said it was just mind-boggling what kind of and how much toxic, and I mean, SERIOUSLY toxic crap they just pour into their rivers or wherever seems most convenient…health and public safety, clean drinking water? They don’t waste valuable time worrying about that nonsense, nohow!
Of course, when one of these days Chinese people start having kids with an extra head and 31 digits that could maybe get some attention, perhaps.
I’ve wondered if this might not be the operating plan for the US going forward.
-Let the rest of the world poison their environment,
while,
-we go green, and start planning for a tourism industry based on visiting “the last place on Earth with fresh air and clean water.
After all, wouldn’t everyone like to go back to the High Plains of the 1860s, and actually see a heard of a million Buffalo?
(okay, maybe I’m weird…..)
‘…like to go back to the High Plains of the 1860s, and actually see a heard of a million Buffalo’
No, I like buffalo, too. Let’s have a bunch, I say!
Pres.I. Dent! Pres.I.Dent!
(That has nothing to do with buffalo, but it’s been my chant all day, so why stop now?)
Say, why’d you about to be ‘ex-gulfstream’ fixer?
…act in the public interest instead of in the special interests…
That’s a tough one.
Who’s left over after we subtract special interest groups from the public interest?
Is anyone out there not represented by one or several special interest groups?
Give responsible homeowners and new homebuyers with excellent credit and substantial equity or downpayment a government 30-year fixed 3% refinancing or mortgages. They’d pay the going rate for a mortgage obtained the regular way right now, say 5%, but the savings between what they were paying (or in the case of a new homebuyer would have paid) on the 5% mortgage and the 3% would come as government checks, which must be used on American-made goods and services, and which would expire in 30 days if not used.
They would have to qualify at the 5% rate. Owner occupied only.
This would, for once, reward the responsible and also pump money into the economy. I know there’s lots of opportunity for fraud here, but I just came up with it so…
SFC,
I like where your heads at on this one. A few weeks back someone suggested letting people “opt out” of Soc. Sec. by using the money in their account to pay down their mortgage and then essentially re-fi to a 15 ( or even 10 ) year FRM with a lower payment.
Thus creating not only more disposable income but also allowing them to bulk up their OWN retirement savings! ( Certain terms and conditions apply! )
Let’s just get rid of all taxes. We don’t need no stinkin’ taxes.
I hate to break the news, but you have no Social Security “account” in the sense that assets are reserved to pay your benefits. In fact, you have to specific claim to anything in Social Security. Any benefit you may receive is hostage to the administration in place at the time. Carrying in one step further, the Social Security trust fund holds non-marketable government debt, i.e. a federal government liability. Considering we are the federal government, my taxpayer liability is my asset once I receive a Social Security benefit… from one pocket to the other.
Enough,
No revelation ( or delsuions ) here! I totally agree. But while we’re throwing fictitious dollars out the helicopter window..? It’s a chance to kill several birds with the same stone.
It shores up banks balance sheets ( NOT… that they deserve it! ) It increases cash flow to the consumer in the form of lower monthly PITI payments AND… it absolves the Gov. from ‘the’ only source of retirement funds for a great many Americans!
I’m not saying by any means that it’s the answer, but we’ve t-r-i-e-d everything else.
Good luck on getting out of SS. Back in the late 70’s or early 80’s I was on the bargaining team for the county professional unit. It was all units pull out of SS or none. Guess what, the unit representing the welfare and social services department wouldn’t go along because they said that SS was their retirement! At that time to get out all you had to have was a plan equal to or better than SS.
The best revenge was within two years their contribution to SS went up and their take home was less. They started screaming and wanted out but by that time the window of opportunity had passed.
The problem with all the programs focused (and I like your idea, just pointing out what I see as a problem) on helping first time buyers is that there is just a TINY fraction of them out there with anything that even resembles a downpayment (call it 10K), excellent credit, good and verifiable income, and most importantly, THAT DON’T OWN A HOUSE.
Yeah, there are a bunch of us on here. But, frankly, with those criteria, I would guess you’re looking at… 1-2% of the population? (total guess, feel free to add your own).
The fundamental problem, IMHO, is that the homeownership rate is at least 3-4% too high. That means that more homes have to come back on the market, and there’s just not nearly enough responsible buyers left to soak up that inventory. The bubble stole 5-10 years of demand; it’s going to take at least that long to get enough people who are ready to buy (which in my book, means at LEAST 10% down, 720+ FICO, and verifiable (household) income that is <3X the price of the home). There is no quick fix to this with the possible exception of relaxing immigration requirements, or allowing immigration with the purchase of a home (for example). There’s just not enough people, and there’s only a tiny fraction of the population that can possibly be “stimulated” into buying.
Now, all that said, I’m all for your program because I am in that tiny fraction. But I don’t think that it solves any of the problems. The “fix” for the problem is to let it happen, and let the natural regrowth occur. We’ve been like the firefighters in Yellowstone (I’m going this summer, so I’ve been reading about it!) who prevented the fire (credit explosion) for so long that when the fire finally comes, it’s a real disaster. But, after the fire, the forest will regrow stronger. Throwing water on it is futile at this point.
Buying into a still inflated market and such low interest rates, just locks them in. As rates rise in the future, house prices will fall. Then they will owe more than then house is worth.
It is better to let interest rates return to a more normal level, and let house prices fall to a more normal level so that they are affordable at normal rates.
Then, if the buyer should need to sell at some time in the future, they will be able to.
I’ve said it a million times on here, never buy a home when interest rates are at generational lows! When the rates rise, the price of homes goes down, and then you’re stuck with a home you can’t sell. You can always re-fi!
Buy when rates are high, re-fi when rates are low. Of course, this advice just doesn’t figure right with those paying 28% on their credit cards!
The gubmint should get out of the lending business altogether. It’s a conflict of interest. Also, who is the government to say what’s responsible and what’s not? If the market is truly free, and there are fair rules being enforced and applied equally to all, then responsible people will usually win out over the long run. Using the government to control the market is the worst thing we could do.
Huh, blog is hungry today.
The problem with all the programs focused (and I like your idea, just pointing out what I see as a problem) on helping first time buyers is that there is just a TINY fraction of them out there with anything that even resembles a downpayment (call it 10K), excellent credit, good and verifiable income, and most importantly, THAT DON’T OWN A HOUSE.
Yeah, there are a bunch of us on here. But, frankly, with those criteria, I would guess you’re looking at… 1-2% of the population? (total guess, feel free to add your own).
The fundamental problem, IMHO, is that the homeownership rate is at least 3-4% too high. That means that more homes have to come back on the market, and there’s just not nearly enough responsible buyers left to soak up that inventory. The bubble stole 5-10 years of demand; it’s going to take at least that long to get enough people who are ready to buy (which in my book, means at LEAST 10% down, 720+ FICO, and verifiable (household) income that is <3X the price of the home). There is no quick fix to this with the possible exception of relaxing immigration requirements, or allowing immigration with the purchase of a home (for example). There’s just not enough people, and there’s only a tiny fraction of the population that can possibly be “stimulated” into buying.
Now, all that said, I’m all for your program because I am in that tiny fraction. But I don’t think that it solves any of the problems. The “fix” for the problem is to let it happen, and let the natural regrowth occur. We’ve been like the firefighters in Yellowstone (I’m going this summer, so I’ve been reading about it!) who prevented the fire (credit explosion) for so long that when the fire finally comes, it’s a real disaster. But, after the fire, the forest will regrow stronger. Throwing water on it is futile at this point.
Vicious rumor overheard yesterday at the men’s beauty salon (Sport Clips): The Messiah™ smokes cigarettes! Say it ain’t so…
Yeah, he smokes. Big freakin’ deal. The skies get cris-crossed with toxic chemtrails, people are being poisoned by all the crap in the food and ballooning up like the Sta-Puf Marshmallow Boy, children are being injected with autism-causing “innoculations” but HEY, let’s criticize the guy for shaggin’ ‘em up from time to time because god knows, that’s the cause of ALL the health problems in America.
Kee-rist.
Gimme Leave it To Beaver and a Tarreyton. Life is a song!
so it’s a “big freakin’ deal” that he smokes, which raises health costs for us all and kills half a million US citizens a year vs. the b.s. you name off which kills a few?
well alright.
that sounds about as deluded as the NAR.
just accept that smoking is bad, but you’re an adult and you’ll do what you want. just like scamming houses is bad, but that’s how they put food on the table.
The President is a role model, so it is a big deal.
Although I’m a militant anti-smoker, I firmly believe anyone who wants to smoke should - until they force their foul air into my lungs. I respect Obama for smoking. It’s one sign of defiance against the do-gooders. And sadly it may be his only sign of individualism.
He’s promised not to smoke in the WH (not that he can legally).
Hey, give the man a chance here. If mistakes are made during his term, at least he’s doing it from his heart. Unlike Bush, who was led by the ring in his nose.
Laura Bush smokes in the White House, so it must be legal.
Banned in all federal buildings.
Banned in all federal buildings.
but,but,but…Cheney says the VP isn’t part of the federal gov’t
Hahaha
I love the notion of the president standing outside in the rain with the cooks and janitors to grab a fag.
Me, too.
“Hey, give the man a chance here. If mistakes are made during his term, at least he’s doing it from his heart.”
Good old double standard. If mistakes are made during BO’s term it’s because he’s no smarter than the guy he replaced.
I think it’s great, he has a hell of a hospitalization policy. It’s his call, so long as he doesn’t start peeing in the rose garden like LBJ. LOL.
Or using the White House pool sans swim trunks, which LBJ also did.
It would be funny if smoking started to increase again because of him. FDR smoked like a chimney. Let’s all smoke, drink bourbon & kick off early like in the good ol’ days and save Medicare.
Works for me!
Me too! Except for not the ‘kick off early’ part. I disapprove of that bit.
I disapprove of that bit. Think of it this way, then: All living smokers haven’t died yet.
Good point.
Hey, where’s my pipe?
Montana, I quit smoking at age 20 but have been dying for a cigarette for most of the past 30+ years. Nicotine got me. I look forward to smoking my head off starting about age 70. Of course, with my luck it’ll be illegal by then.
Can’t be true. Smoking is prohibited in all Federal buildings and airplanes. He would have no place to smoke.
Yeah, he does…though I guess he’s tried to quit.
I don’t smoke, but if he does, who cares…..leave him alone.
He’ll be up to three packs a day before the year is out, no doubt.
wmbz,
LOL! If that’s ‘all’ then he’ll be just fine. You know a good friend pointed out to me just this morning that considerably more people have died in Mexico’s “drug wars” along the border than have in both Afghanistan AND Iraq.
Plenty of torture too! When you look at the stink raised over the war in Iraq you’d think there would at least be ’some’ compassion left for the innocents caught in an unwanted cross-fire down there? Why wasn’t there?
Or is it just another “by product” of another nasty and unhealthy habit? How do we square w/ that so comfortably?
Huh? Mexico is not under our jurisdiction. We are not at war with Mexico or with its drug cartel. We give them money to help them fight the drug cartel, yes, but we are not there personally. What does any of that have to do with Iraq, Afghanistan, or smoking?
So does Laura Bush. Whatever.
Wall Street Journal
* HEALTH JOURNAL
* JANUARY 20, 2009
Letter to Our New President: It’s Time to Break the Habit
By MELINDA BECK
Dear President Obama,
A world of woe has just landed in your lap, including a conflagration in Gaza and a deepening recession at home. Some wags have suggested that the new Leader of the Free World shouldn’t try to quit smoking, too. But I disagree. Starting a new job and moving to a new home is a great time to break old habits.
You’ve been very cagey about how much you do smoke. Telling Tom Brokaw last month, “There are times when I have fallen off the wagon,” could mean once or twice in the long campaign, or several furtive butts a day. In case you didn’t see it, a big study in Norway in 2005 found that smoking just one to four cigarettes a day can triple the risk of dying of heart disease.
Now if he smoked pot, wouldn’t that be a hoot!
He did coke.
Yes, and he was up front about it, I’ll give him that much. Oh, and he did say he inhaled.
So did George Bush. Bushie had a problem with it.
“…Bushie had a problem with it”
What do you mean…had? Fear… is now his personal substitute. That and unchewed pretzels
Even if he does smoke pot, I am sure he never inhales
He inhaled. Frequently. “That was the point.”
http://www.liveleak.com/view?i=fd4_1172613489
Maybe 100 years of racist and horribly prejudicial (and ineffective) laws would come to close, resulting in the de-criminalization of some recreational drugs? Yeah, that would be a hoot all right; and one of the better things to happen to this country as well. The drug was has caused more suffering in the US then probably any other war ever fought. The bodies continue to pile up, and the war continues to be lost (at a cost of billions, maybe trillions over the life of the “effort”).
Yes, I used to smoke pot, but haven’t in nearly a decade. I don’t think I have any friends that even smoke regularly now. That doesn’t change my view, it was bad policy when I was on the wrong side of the law, and it’s still bad policy on the right side of the law.
My standard is this — universal health care financing at the federal level, with a choice of a more basic version of Medicare or equal money for private insurance, by the new federal budget in October.
It would keep existing companies and state and local governments from being bankrupted by retiree health care, and encourage people to start new companies by providing them with health insurance.
Can’t afford it? Fine — then we can’t afford Medicare and Medicaid for senior citizens, employer-provided health care for public employees, and tax subsidies for private health insurance either. If we can’t afford it for everyone, not only today but 20 years from now, then we can’t afford it for anyone today.
My view — make sure basic health care is available, no one starves, and education continues. Don’t bother subsidizing particular industries and housing — let it sort itself out.
There’s one big problem with universal health care, and that’s the little “mental health parity” clause that was slipped into the bailout bill. Which basically leaves the door open to “mental health” services being forced on people who don’t need or want them, a method of operation used to silence dissidents.
My view — make sure basic health care is available, no one starves, and education continues. Don’t bother subsidizing particular industries and housing — let it sort itself out.
All excellent ideas.
I would add that I still don’t think investing in infrastructure is a bad idea — especially when compared to relatively recent zero-return giveaways to the financial and defense industries.
If there was univeral health care financing at the federal level, states and localities would save huge money and could afford to pay for their own infrastructure.
You wouldn’t have people from NY telling you what to do with your infrastructure, and I wouldn’t have people from where you are doing the same for me.
People move from state to state, infrastructure doesn’t.
How about more available over the counter medications. That would totally reduce doctor visits.
BTW - What the heck do people do who have something painful like a bladder infection, for example, with no insurance?
If you have a bladder infection, then you have to use antibiotics or else you will most likely eventually die. There are a lot of really good reasons to require a prescription for antibiotics. The FDA does all it can to make the right decision when differentiating between OTC and prescription drugs. They try to weigh the benefits and risks of both options. They may not always make the right choice, but the process is basically fair and reflects the expectations of the general public.
If you buy certain antihistamines in California, you have to ‘register’ that buy since they are often used for making methamphetamine.
Why couldn’t the government do the same thing for antibiotics — especially low dosage ones. There will always be ways to abuse a system, however this really would reduce expensive Dr./emergency hospital visits.
So again. What do people without insurance do for a bladder infection? How much does this infection end up costing the tax payer?
People have already proven themselves to be WAY TOO STUPID to use antibiotics without direct doctor supervision. The misuse of antibiotics is dangerous for everyone, not just the person who misuses them.
They go to an emergency room or outpatient clinic and get charged the highest rate unless they can qualify for an uninsured discount or income based reduced cost or free care. Then they pay their medical bills, possibly over many years.
hey sillie….just go to the …by law they have to treat everybody. If you don’t believe me just ask the illegals.
hey sillie….just go to the er …by law they have to treat everybody. If you don’t believe me just ask the illegals.
how about deregulation
like Carter did w air
35% cheaper today than 1979
do the same for meds
Bladder infections can be treated with cranberry juice. You need the unsweetened concentrate that the health food stores and food co-ops sell. Don’t drink it straight — dilute it with water and don’t sweeten it.
If they got rid of insurance altogether, then healthcare expenses would fall back down to their natural market rate.
And so would life expectancy (for most).
No, market fundamentals dictate that most people would be willing and able to purchase the services they need. For those that aren’t able, there are county and local clinics funded by taxpayers that offer very basic care. Healthcare is only expensive because insurance companies are inefficient and ridiculous. I called my insurance company one time to tell them I didn’t think they should pay a certain bill (because the hospital charged me for something they didn’t provide), and my insurance company told me billing disputes are between the hospital and the patient. BUT THEY WERE THE ONES PAYING THE BILL! Dumb.
“..and my insurance company told me billing disputes are between the hospital and the patient…”
Not anymore. I believe I read a couple of days ago, a court ruled it was now between the insurance company and the hospital, or doctor.
then we can’t afford it for anyone today
Now you’re catching on
I wonder the MPG of the Pres Caddy. Maybe… 2?
Judging from all the hub bub today, I wonder if it might not be possible to build an economy around innaugral events. We could hold one every month until the economy recovers.
LOL.
LOL!
Pomp & Ceremony Services LLC
“I wonder the MPG of the Pres Caddy. Maybe… 2?”
And I wonder how many of them there are. They fly them around to the places he visits, so there must be more than just one or two.
“And I wonder how many of them there are. ”
Not enough to save GM, Lol..
well, that depends on what GM is allowed to charge for it … it the price public?
Isn’t that subsidizing particular industries?
No. They’re essential services a government is obliged to provide.
“essential”, meaning, essential right now? Slip back in time several decades - these things that are “essential” were not always. Maybe one day having the government provide jobs and homes and cars for every citizen will be “essential”.
Last I checked the only “essential” thing the government is charged with providing, according to the Constitution, is the protection of freedom.
The people have decided that we want public education because we believe that’s in our best interests. Food and healthcare haven’t been given the same status.
Neca eos omnes, Deus suos agnoscet
The inauguration speech was truly inspirational. Even a hard-core cynic has to feel moved upon reflection on how far this country has come in fifty years.
Yeah. Not bad.
Yes, PB, it was excellent. I was actually proud. I hope it isn’t all downhill from there.
I could have done without Feinstein, though.
Yoyo Ma and Perlman were great.
They certainly were, but I have a soft spot in my heart for a really good clarinet, and he was very very good. Siimple Gifts is a good tune for that too. I’ve never played the clarinet so I’m not sure where it comes from, but that whole performance was wonderful.
As for the speech, I like the fact that he didn’t write it specifically to get applause lines. There were a few interuptions, but he could have been playing for them and he didn’t do it.
He did well. And I wish him well and do not want him to fail.
But the Geithner thing just sticks in my craw and doesn’t bode well.
Agreed about the craw sticking - not sure if it bodes all that much, though I’m glad it at least came out. Seems like a done deal.
“It is indispensable to the proper functioning of, and the maintenance of public confidence in, the Federal Reserve Bank of New York (”Bank”) and the Federal Reserve System (”System”) that every employee perform his or her duties with honesty, integrity and impartiality, and without improper preferential treatment of any person. Each employee has a responsibility to the Bank and to the System to avoid conduct which places private gain above his or her duties to the Bank, which gives rise to an actual or apparent conflict of interest, or which might result in a question being raised regarding the independence of the employee’s judgment or the employee’s ability to perform the duties of his or her position satisfactorily. Each employee should conduct his or her financial affairs with integrity and honesty. To ensure the foregoing, each employee, including all Bank officers, shall respect and comply with the principles and standards of conduct contained in this Code. An employee who needs assistance in interpreting the provisions of the Code or who desires additional information should contact the Bank’s Ethics Officer.”
I never liked Mr. Geithner and would be happier if he took Mr. Summers with him.
Yes hoz, I agree with you on this. I wish those two would disappear down a dark hole
Seeing them together was wonderful. And the Pianist was also great!
As far as the speech, same ol’ same ol’……talks much, says little, but enough for a couple F-yous anyways.
And I suppose we should listen to you because….
Let me guess. You voted for the idiot twice, and tried making it 3 in a row, but McCain lost? And your party has done SUCH AN EXCELLENT JOB the last 8 years!
LOL
Get over it. Your party focked up the country, and now you all go back into the WILDERNESS - WHERE YOU BELONG.
Don’t worry, we adults will clean up your big messes.
Adults……riiiiiggghhhhttttt. Too funny!!!
Good luck with that.
Can you take your PC crap and peddle it elsewhere! This blog site is for intelligent discussion and not one’s political agenda. You seem to have developed a severe case of what in the medical vernacular is known as “analcephalic-compaction”. If you need a translation I’ll gladly supply one.
Blano started it with the political agenda. Today is inauguration day, ya’ know.
Thanks for pointing out the obvious, Big V. Some people don’t do “obvious” well.
Wow Big V….suddenly talking politics is a problem???
That started with me today???
Sounds to me like Big B might be more appropriate tonight.
“Your party focked up the country”
They couldn’t have done it without their great buddies, the dems, who laid down for Bush at every opportunity.
Yah, “Impeachment is off the table” Pelosi. And Frank, who couldn’t shovel the bailout fast enuf. The dems carried water for the neocons, making them more despicable, IMO.
Forget about parties, anyway. Has nothing to do with it, really. It’s just a show, two sides of the same coin.
I agree the Dems are a lame excuse for an opposition party! Frustrates the hell out of me. And just for the record, I do not believe in Democrats or Republicans. I just know when one is doing more damage than the other. And I don’t try to minimize the damage one does by claiming the other is just as bad.
Sometimes one party REALLY screws things up, and this time the Republicans OWN IT.
More like 80/20 Republican fault. But I will also agree the Dems were part of the problem. Just a MUCH SMALLER part.
The Cheney-Shrub Thanksgiving feast & ball is over…time to clean the table, wash the dishes..see what’s left over in the pantry, (seems rather bare)…go outside call in the boys & girls playing army men over at “Sha-Zam-Islam-is-now-democracy” park, open up the neglected mail ( the dread of that non-revolving AMEX cc charge due in 30 days)…now the real tough job…who gets latrine duty on Tuesday 1/20/09?
Cheney-Shrub: “We want him to succeed as president, we really do.”
There was something fitting about Cheney being wheeled away.
He is being wheeled out just like the stock market is being wheeled out after 8 years under Bush.
Dow -25%
S&P -40%
Naz -48%
So much for the GOP being good to Wall Street! NOT!
Ah, but they were good for the street. The boyz don’t give a ratz azz about anyone’s 401k. It’s all about the bonus and the ability to reinvent themselves in time for the next scam.
Oh wait a minute fer’ chrissakes already. When President Bush took office he inherited a little mess you might recall? Yeah, the DOT.COM Implosion!?
At that time it looked about as bad as one could remember? Major freaking mess. Nothing but downside from 10 MAR 2000 until Oct. 2002. The malinvestment that created it was from the Telecom Act of 1996. 1996.
Again with the B.O supporters, sorest bunch of winners I’ve ever seen. Live it up now…
edgewaterjohn,
Well it would be pretty naive to think anyone back on WS gives a rip about anyone but themselves. And it’s never been more glaringly obvious.
Yet I wonder what ‘would’ be to everyone here’s satisfaction? Were not going back to the Defined Benefit Plan ( so I think we can uh… safely dismiss ‘that’ ) so what does everyone want? Just shut down tax-deferred accounts altogether?
Again, I DEFY anyone to run a hypothetical that shows me how to retire on money market returns ( let alone without the benefit of deferring gains? )
We never talk about Roth IRA’s here either?! How does everyone feel about life insurance? Or is that a “rip off” too? Now ‘this’ you HAVE to admit; we soundly thrash 401K’s here every chance we get but then we slam people that raid them to keep up with their house payments and bills! ( Which one is it folks? )
DinOR:
People are of differing opinions on this board, but most of us agree that when you take a risk and lose, then you have to eat your own loss. Here’s your hypothetical allowing you to retire on MM funds: You put enough money into your account before you retire. That will work better than relying on a stock market that never goes down. I say this because there is no stock market that never goes down. The expectation of overheated returns has evaporated because it’s unrealistic. I don’t know whoever told you that you couldn’t lose $$ in your 401k. There is a statement printed all over the paperwork telling you that you can lose some or all of your principal. If you want an insured account, go to an FDIC-insured bank. Go to 10 of them if need be. Otherwise, you may lose some or all of your principal.
“When President Bush took office he inherited a little mess you might recall?”
You Republicans are nothing but apologists. When Clinton took office there was also a recession. But when he fixed it, it was really REAGAN that set the stage for that recovery. Then when it all implodes under Bush it is somehow Clinton’s fault.
So doesn’t that REALLY make this entire mess Reagan’s fault?
I’m just trying to follow your twisted logic. And I guess we shouldn’t blame Bush for anything, since he did such a good job stopped the attacks on 9/11, Katrina, Iraq, etc.
Face it. You supported a turkey. He wrecked the country. Hey, I voted for Reagan TWICE. I have long forgiven myself for it. I was young.
bananarepublic,
There’s simply no way any thinking person can place a scale on the disparity between the blame game played during the clinton years and what’s happened during the last eight.
‘The inauguration speech was truly inspirational. Even a hard-core cynic has to feel moved upon reflection on how far this country has come in fifty years.’
I think so, too! I’m not a hard core cynic, either, so I just went ahead and unashamedly cried like a little French girl.
I’m no starry-eyed Messiah fan, but yes, his speech was stirring, aside from his impossible pledges to fix everything. And from the bottom of my heart I’m glad McSame didn’t win and the Bush Administration has been consigned to the dustbin of history. I wish Obama well, but do not care for the people he is surrounding himself with, or beholden to.
Thank you, Sammy, for expressing so beautifully exactly how I feel.
I agree with Sammy. Obama says that he is going to be above politics. If he doesn’t mean it, we’ll turn on him even faster than his predecessors. Somebody in charge needs to pay attention - that’s not too much to ask. If Ben and the blog can do it, so can government.
The words were moving. But knowing the lack of substance behind them was not.
I should mention - Geithner is a great example of the President’s words not matching his actions - appointing yet another fox to guard the roost.
agree.. don’t like that choice… not at this time.. bring me into the Treasury.. I’ll fix the problems..
I lost a lot of respect for him when he abandoned the Trinity United Church of Christ. This is the church he was a member of for decades; where he was married and his children were Baptized. The TUCC is a wonderful organization, whose goals I agree with. It’s a truly inclusive group, that strives to do the right thing.
To pander to a particular voting block, he dumped them and has Rick “Meth-Driven Life” Warren deliver the invocation.
This isn’t leadership.
The TUCC is a wonderful organization, whose goals I agree with. It’s a truly inclusive group, that strives to do the right thing.
I agree with you there, but I’m not sure what else he could’ve re: Rev. Wright, what with all the hysteria that was whipped up after some of his speechifying was released.
If Rev Wright had shown some class, he could have been up on the dais today, leading the prayers.
“It’s a truly inclusive group, that strives to do the right thing.”
Guess it depends on what you define as “right.” Too often that means condoning and celebrating things that are wrong.
Unfortunately that sometimes means accepting and celebrating things that are wrong, as the liberal church often does.
“To pander to a particular voting block, he dumped them and has Rick “Meth-Driven Life” Warren deliver the invocation.”
Nice celebration of diversity and tolerance there.
I watched the speech in an auditorium with approx. 2,000 other people. For the most part, people remained quiet during Warren’s invocation. But there was a bit of light heckling in certain parts.
As an atheist, I think no one could give an invocation that I would care about. Like it or not, Rick Warren has a point of view, he isn’t infallible, and he represents a lot of Americans on more than just gay rights issues. Before condemning his choice, let’s find an infallible human being to deliver the invocation…
(sound of chirping sounds and shoes shuffling)
Yeah, I thought not…
That was my point, NSO. BO actually made some effort to have some inclusion, much to the dismay of the Pathetic Left.
Rick Warren’s leadership has helped millions. Exactly what voting block does he pander to?
Meth whores who harbor escaped murderers and then try to make a quick buck off of it.
Wow. That’s a massive election flipping demographic. NOT.
Ok! How about Fat People? Those lazy slobs who take up too many resources must love Rick Fatso Warren. (Think of all the gas we’d save if we weren’t all so fat?)
His pastor kept selling him down the river, so I think he did the right thing. Loyalty is one thing; doormattedness is quite another.
Sure, it’s leadership American-style, where winning voting blocs via any means possible is the hallmark of a good “leader”.
Uh-oh. Looks like the market isn’t impressed with Obama’s inauguration speech. Initially at least.
Of course the market could take off at any time now that the new administration is in place, as things get turned around pretty darn fast.
at least the goldstocks are pleased for now
Stocks are crashing while gold and oil are rallying. The markets smell stagflation and are adjusting asset prices to reflect it.
“I think people were looking for something, new plans, new hopes,” said Joe Saluzzi, co-manager of trading at Themis Trading in Chatam, New Jersey.
“They didn’t hear something new.”
Just like (soon to be ex-) GS fixer said, they are setting their hopes to high.
Obie gave a great speech. He messed up on his vows, but I thought that was endearing.
The take-home message was that all you naysayers out there (you know who you are) need to get hip.
Hip with what??
How about taking home this message??? “Hip” doesn’t necessarily mean “correct,” and the Messiah just proved it again.
Y’all can keep your “hip.” I’d rather be right.
You’re not.
If I’m disagreeing with a Kallyfornian, that’s probably a good thing.
Don’t forget Blano, you’re also disagreeing with the smartest person you’ve ever met, and cute to boot. I can’t wait ’till the last of your breed finally throws in the towel. So backwards, so shallow, so hateful, so SUCKY.
I thought the take home message was this is going to hurt (he didn’t say it, but all that stuff about responsibility implies it) but America has more than enough moxie to get through. I agree. Not quite as confident about the dollar, but the US will get through.
And the mess up on the oath was endearing. It means he didn’t spend too much time practicing that part - concentrated on the writing assignment instead.
I printed out a copy of the federal employee oath (the one Biden took) and stapled it into a small copy of the Constitution. I’m going to keep it in my purse.
“The take-home message was that all you naysayers out there (you know who you are) need to get hip.”
I know a hip-tip when I hear one (from the Big V!)
Count me on board with the ObamaNation Express! Can I be ambassador to Tahiti???
Got my bags packed
Is it just me, or has this Obama love fest become a little bit too much………sorta like a T. Owens touchdown dance that goes on a little too long?
Hey, America……it’s not about the touchdown dance, it’s about putting points up on the scoreboard.
A lot of people are setting themselves up to be disappointed/disillusioned.
“A lot of people are setting themselves up to be disappointed/disillusioned.”
+1
GS fixer:
We will not disappoint oursevles as long as we give it all we have. No more of this “I pledge allegance to China” crap. No more doomsday thinking where you just give in to defeat. You will try your best or go out with the trash. That’s the American way, dude.
BTW, please forgive all spelling errors. That goes for all my posts. I get a little excited.
Who pledges allegiance to China?
“A lot of people are setting themselves up to be disappointed/disillusioned”.
Absolutely! The thing I keep reading is they don’t want B.O. to fail. Fail at what?
Unless he implements massive tax cuts, works his ass off to reduce the size of gubmint, cut’s entitlement programs, etc… then I want his administration to FAIL miserably!
So basically, if he’s not a Republican, then you want him to fail. You will be upset if the Democratic view point fails to fail yet again. Wouldn’t it make more sense to embrace the policies that actually work?
“…works his ass off to reduce the size of gubmint…then I want his administration to FAIL miserably!”
So you’re the one… who is helping push down Cheney-Shrub’s approval to historical lows?
“So basically, if he’s not a Republican, then you want him to fail”.
Who the hell said anything about a republican??
Good lord, I don’t a flying F what the party affiliation is but I guess party hacks can’t wrap their small minds around that simple fact!
Lets try less gubmint, it’s NEVER been tried before, it always gets bigger and more intrusive.
wmbz:
Tax/entitlement/government size cuts are a major pillar of the Republican platform. They have been taken to extremes. That’s why people voted Democrat this time.
I just don’t understand why you would want him to fail, even if his efforts (which do not align with your personal viewpoint) turn out to successfully lead us into the next age of prosperity and happiness. That sounds like stubborn partisanship to me.
Tax/entitlement/government size cuts are a major pillar of the Republican platform. They have been taken to extremes. That’s why people voted Democrat this time.
Um, no. Smaller government is part of the party platform, but these aspects of the platform have not been put into action… well… ever?
If people voted Democratic, it wasn’t because the government has shrank under Republican control. Clearly it has grown. Even the regulatory agencies have grown, including the SEC.
All of this goes to show, more government does not equal better government. It most always means the opposite.
even if his efforts…turn out to successfully lead us into the next age of prosperity and happiness.
One more comment here, which might be helpful to you.
Obama’s economic efforts, attempting to bring about prosperity via debt, contrast entirely with the Austrian school of economics, not to mention common sense.
So if his attempt at prosperity via debt fails, it won’t be because anyone wished him ill, it will be because it was doomed to fail from the start in the same way that paying off one credit card with another is inevitably doomed to fail.
Subsidizing non-productive economic activities that consumers do not want and the economy cannot afford, at the expense of competing productive activities, will always bring about economic harm.
patient renter:
“attempting to bring about prosperity via debt” …
It was tried during the Great Depression, and it got us out of our pickle. The Bush bailout was a true waste of money. The Obama plan, on the other hand, will be an investment. We will actually get something useful for our money (sustainable energy, efficient transportation, etc.). Besides, Obama’s plan is not soley to create public works. He is also going to work on shoring up our trade agreements so that American jobs come back to the US where they belong. That’s what he keeps repeating, but the naysayers keep ignoring that part. Because Republicans don’t believe that workers should have a fair share of the nation’s prosperity, they choose to gloss that jobs thing over and act like it’s impossible or something.
So, in short, I really feel that there is a lot of partisan stubbornness on this board. We should not be wishing failure on anyone.
“turn out to successfully lead us into the next age of prosperity and happiness. That sounds like stubborn partisanship to me”.
The point is I don’t need government to lead me to prosperity and ‘happiness’ I do not embrace big government I try and keep them at arms length as anyone paying serious attention would far better off doing also.
To each his own, if big & bigger government control of your life is one of your goals then so be it.
Alright, my last post didn’t show up, so I’ll double post you. One’s “goal” should not be a process. The goal should be an outcome, and whatever process produces that outcome should be embraced. Asymptotically smaller government is not a goal. It’s a theoretical process that some believe should lead to greater prosperity and happiness. If you can see through observation that your chosen process hasn’t worked, then it makes most sense to be flexible and turn to a different process, especially one that has been shown to work.
It was tried during the Great Depression, and it got us out of our pickle.
Um, no. Just, no.
Read America’s Great Depression by Murray Rothbard.
mises.org/rothbard/agd.pdf
Debt doesn’t create wealth. It destroys it.
Hey, America……it’s not about the touchdown dance, it’s about putting points up on the scoreboard.
To extend your metaphor a little, the outgoing administration was the equivalent of the 0-16 Detroit Lions — it was a long, painful, horrible season, filled with rank incompetence, p!ss-poor coaching, and more than a few miscues. They stunk up the joint.
Perhaps you can forgive some people for seeing a better team on the horizon. Only the usual cadre of fools are hoping for an outright miracle. But even if it’s only a 7-9 or 8-8 season, that’s still leaps-and-bounds past what the previous administration was ever capable of.
BTW…did he make any mention of when my gas check and welfare check will be arriving.
The check is in the mail.
No check for you! They are sending to the more deserving.
Actually Roberts messed up the vows. That was what threw Obama off. Been reported already.
And which administration nominated Roberts for his position, hmmm?
Looked like an honest mistake to me. They were both nervous.
Roberts hesitated a little too long after saying BO’s name.
Roberts should have been reading it off a card.
No he did not mess up on his vows. The Chief Justice of the Supreme Court messed up on reciting the vows. Obama was waiting for the Chief Justice to correct himself.
Ah yes, Big V, the hipsters will be the salvation of America - NOT. This country desperately needs people of substance, integrity, and intelligence to get us through the tough times ahead, not more vapid, trendy “hipsters.”
To get hip means to get with the program. Stop crying in your beer and do something already. This country can’t change unless its people demand and participate in the change. To quote Obama, we can and we will.
Somehow I’m not surprised to see you join the zombie caravan. I’m not “getting with any program” that isn’t based on a fundamental respect for the Constitution, as well as individual liberty and responsibility.
WHAT? How is Obama’s plan not based on a fundamental respect for the Constitution?
I’m giving him the benefit of the doubt, for now. He said a lot of the right things. Now let’s see what he does.
Big V –
I don’t know if below helps or hurts your case, but the lines “Seen in all the right places/Seen with just the right faces/You should be satisfied, but it ain’t quite right.” are beginning to strike a chord with people. They are starting to realize that trying to be cool and “hip” is the opposite from actually being cool and hip and that they’ve been going about it the wrong way. More service, less selfishness, etc. Anyway, interested parties can explicate their own meanings, if any…
“What is Hip?”
as performed by
Tower of Power
————–
{ Band intro }
So ya wanna dump out yo’ trick bag.
Ease on in a hip thang,
But you ain’t exactly sure what is hip.
So you started to let your hair grow.
Spent big bucks on your wardrobe.
Somehow, ya know there’s much more to the trip.
(refrain #1)
What is hip?
Tell me, tell me, if you think you know.
What is hip?
If you’re really hip,
the question, “Will it show?”
You’re into a hip trip.
Maybe hipper than hip.
What is hip?
{ Trumpet solo/guitar solo }
(refrain #1 ends)
You became a part of a new breed.
Been smokin’ only the best weed.
Hangin’ out with the so called “Hippie set.”
Seen in all the right places.
Seen with just the right faces.
You should be satisfied, but it ain’t quite right.
{ refrain #1 }
Come on!
(refrain #2)
Hipness is. What it is!
Hipness is. What it is!
Hipness is. What it is!
Sometimes hipness is, what it ain’t.
(end refrain #2)
{ guitar solo }
You went an’ found you a guru.
In an effort to find you a new you,
And maybe even raise your conscious level.
While you’re striving to find the right road,
There’s one thing you should know,
“What’s hip today, might become passe’.”
{ refrain #1 }
{ Trumpet solo }
Think about it y’all.
{ keyboard solo }
{ refrain #2 }
What is hip?
Ahhhhhhhhh!
What is hip?
I’d like to know!
What is hip?
Is it in the style of your hair?
What is hip?
Is it in the clothes that you wear?
What is hip?
I’d like to know.
What is hip?
I’d like to know.
What is hip?
What is hip y’all? Hey!
What is hip?
Hey! Oh!
What is hip?
What is hip y’all?
What is hip?
I wanna know.
What is hip?
Ahhhhhhh!
What is hip?
I wanna know what hipness is.
Man oh man, that brings back lots of memories. Love their horn section.
I saw them play at a couple of my high school dances before they became famous.
East Bay Grease is a great album. A bit pre-me, but I got into the 70s funk scene after the fact with both feet! Soul Vaccination… all across the nation!
“To get hip means to get with the program. Stop crying in your beer and do something already. This country can’t change unless its people demand and participate in the change.”
Plenty of us don’t want your hip and plenty of us don’t want the change you want, because it’s for the worse. If enough of the right people actually get “hip” in the right way, the Messiah might not be able to do much of anything. That could be a good thing.
“Hip” is just as misleading as “progressive.” Nice try though.
Blano:
You Republicans are just going to have to accept the fact that you lost, and that the majority of people in this country disagree with you because your preferred policies have wrecked our economy. If you want to leave the country, then go on ahead. Otherwise, you get what democracy gave you: Obama.
I think that you guys are finally zeroing in on the issue at hand. It’s like that truck commercial with John Cougar Mellonhead singing, “This is ouuuuuurrrrr couuuuntryyyy!”. Half of us watching it is going, “Hell yeah! U-S-A! U-S-A!” and the other half is going, “Are you &*%^ kidding me?!”
This kind of issue crops up with stem cell research, torture, terrorists, homeland security, the War of Drugs, climate change, etc. One crowd just can’t believe that there are people out there that don’t believe in the things that they hold sacrosanct. But the deal is that U-S-A crowd just got booted out of power and it’s the second crowd’s turn for a while.
Do I really think that everything is going to change and that Obama isn’t beholden to big business and it’s all sunshine and rainbows? I’m way too cynical for that. But I do think that some of the anti-intellectualism and rabid jingoism that has been on the rise in the recent past (see also: Sarah Palin) will abate and that we will have more thoughtful discourse on a wide range of topics. It’s got to be better than just shouting at each other across the ideological Grand Canyon.
We set up false dichotomies because many of us don’t really understand the issues and we end up throwing poop at each other like monkeys. Issues like inflation/deflation, gold bugs/gold haters, politics, climate change and even real estate are far more nuanced than some of us appreciate or are willing to admit (myself included, especially wrt to global warming).
Now let’s bash some Realtwhores!!
MrBubble
You go MrBubble.
Did you ever see the movie Grand Canyon?
“Blano:
You Republicans are just going to have to accept the fact that you lost”…..
Not a Republican, Big V……Former.
Open thine limp wristed libbie Kallyfornian eyes, please.
“If you want to leave the country, then go on ahead.”
As a great man once said, “there you go again.” Confusing me with those Pathetic Left Hollywood types who threaten to leave but conveniently change their mind. Are all Kallyfornian lefties that hypocritical????
I’ve seen way too many movies. No TV + Neftflix = dull boy.
But I only vaguely remember G.C., however in a positive light. I tend only to remember the darker stuff and the super light stuff.
Thank you for demonstrating my point above so sublimely (”we end up throwing poop at each other like monkeys”). I shall merely be the throwee this time around.
Although I must say “limp wristed libbie Kallyfornian” is not some easy bit of wordsmithery. That is easily fifth grade reading level. Bravo!
OK, so I caved to the darker angels of my nature. But at least it’s a sarcastic litotes.
MrBubble
Geez, already on wiki:
“Obama inauguration
When swearing in Barack Obama in 2009, Chief Justice John G. Roberts was interrupted in the first segment by Barack Obama, after several words. He then recited the next part of the oath incorrectly placing the word “faithfully” at the end of the phrase: “…that I will execute the office of President to the United States faithfully”. Obama repeated “that I will execute,” then paused, waiting for a repeat of the prompt. Chief Justice Roberts then incorrectly repeated the prompt as “…faithfully the office of President of the United States.”
Barack Obama then incorrectly recited the remainder of the oath as “…the office of President of the United States faithfully”. [4] This is the first recorded instance where both the President and Chief Justice have stumbled on the oath. Ironically, as a Senator, Obama had previously voted against Roberts’ confirmation to the Supreme Court, and so the event represented the first time a Supreme Court justice has sworn in a President who voted against him.“
FYI, here’s what the Oath is:
“I do solemnly swear (or affirm) that I will faithfully execute the Office of President of the United States, and will to the best of my Ability, preserve, protect and defend the Constitution of the United States.”
Sacrifice? I thought he was going to pay for my gas and mortgage!
Only if you decide not to pay them!
There’s that darn sacrifice word again! I always envision bloody Aztec pyramids with piles of bodies surrounding it. Eh. I guess it’s for the “greater good” so let’s have at it!
Let’s see what our leaders are willing to sacrifice besides the citizenry.
You mean we can’t throw realtors in volcanoes? Virgins they’re not, but I am sorely disappointed.
Well,
I gave Bush the benefit of the doubt in 2000. I’ll just leave it at that and do my part to help us recover.
We all make mistakes. I voted for Reagan twice!
:-)…but he was like a favorite Uncle & he had a ranch with real horses!
Good luck getting past Auntie Nancy though.
Well said, Mac. Me too on both comments you made. (March 2003 was the end of support for me).
I don’t really get the vitriol being thrown around here.
Ironically, doing your part under a Bush administration will be similar to doing your part under an Obama administration - that is, SPEND!
The laws of common sense are hereby suspended. Economic recovery awaits all of us, if we can just spend enough money…
Sad but true. Maybe that’s why they’re clearing out Gitmo, so they have someplace to send savers?
It’s official.
I am now, for the first time in my life, older than the president.
Feh.
+1
Me too
If we can keep him in office perpetually, I’ll never be older than the president. Sounds like a plan!
Why’d you have to bring that up?
Watched Nightly Business Report on PBS last night…..interview with Glen Hubbard and Alan Binder.
The braintrust’s plan going forward?
-Stabilize housing prices, by cutting interest rates, letting bankruptcy judges redo mortgages, throw government money at the problem
-Throw Federal Government money into the economy, to stimulate demand.
-If that fails,
-Have the Fed put nitrous oxide and turbochargers on the printing presses.
We are sooooooo foooooked.
I can see all of us, telling the kids twenty years from now, “Yeah, I can remember when a hundred billion dollars was a lot of money……..”
I wanna get me one of those Z100 trillion notes.
Oh, and another thing the Feds need to do:
“Boost confidence”
Whatever the hell that means.
Is Enzyte traded on the NYSE or NASDAQ?
More importantly, is it covered by health insurance???
Good luck with your employment search too, GS.
GS Fixer,
Sorry to hear that. Is it just a gut feeling or have you gotten official word?
My wife’s Fortune 500 company is giving her that gut feeling too? There were a LOT of layoffs right before the holidays but a big-wig from back east assured them that was ALL the layoffs for the foreseeable future.
No rumors but it’s beyond slow. She’s begged to be let go ( while the gettin’ is good ) but to no avail. We’ve started to worry that if they just close the plant, she won’t get anything above and beyond unemployment. ( What of it is left? )
Best of luck to you.
Got the word last week. Last day of work TBD. Could be as early as 1-31-2008 (if my next paycheck doesn’t direct deposit……another fly in the ointment I’ve just been made aware of).
I’ve been circulating my resume thru my “network”……have been getting some info on the state of the corporate aviation business/US business environment:
-If you have to sell anything, good luck. The only offers for ANYTHING (be it airplanes, money making businesses, whatever) are from the people sitting on cash, offering 10 cents on the dollar. An airplane that would sell for 9-10 million bucks last spring sold late last year for 5.5. A LOT of money is sitting on the sidelines, waiting for the final meltdown and/or pricing on everything to stabilize.
-A major player in the Part 135 Charter business has cancelled ALL their 2009 deliveries from one of the OEMs.
-Corporations are throwing their Flight Departments under the bus, especially if they are laying people off. After our Senate friends went off on GM, Ford and Chrysler over their ownership of company aircraft, everyone is afraid to read the local papers saying “Company keeps CEO chariot, while putting people out of work….”
(Funny, but Congress doesn’t mention that they have their own fleet of G-4s/G-05s at their disposal @Andrews AFB…..and of the stink Nancy Pelosi made last year, because “her” airplane had to make a fuel stop on a coast-to coast flight. She wanted a Boeing 757 to replace her Gulfstream, so she could fly non-stop).
-Maintenance shops currently running about 80% capacity (until recently, every shop in the country/world was overbooked). Hiring freezes all around.
It’s early in the process yet (last time this happened it took about 4-5 months to find a new job) but I’m currently thinking that I may have to string together a bunch of 1099 deals, or else find a nice cardboard box and live off unemployment.
GS fixer,
Sorry to hear that. We’ve been hearing about a lot of that from all corners of Corp. America since the start of the New Year. It’s what we do, we punish the most efficient in times of need. Perhaps we can re-introduce the horse and buggy?
I re-joined the Air Guard after being out for years and you have no idea how good it feels to be around a bunch of whinning, complaining, disgruntled Avionics Techs! God, it’s like music to my ears! As you noted, all of this is “PR” and any downturn in your sector will be short-lived. IMHO.
Reading your post gave me the willies, that’s why I left the biz ten years ago. For as invaluable as aviation mtc is, it always seems to be getting the shaft.
“-Stabilize housing prices, …”
Don’t they realize that (1) the market is already well along with the process of taking care of this; (2) propping up prices at unaffordable levels will result in a further drop in housing market liquidity?
So far as I can tell, the huge price declines are resulting in a resurgence of sales activity, and very low comp prices are getting locked in to expectations. Not sure how this squares with the plans to prop up prices…
One possible future scenario: Time the implementation of a ‘housing price stabilization’ program for when the market is bottoming out of its own free will, and claim credit for what would have happened without intervention.
Aka: price fixing. Can we all agree to call it what it is?
For that matter, the FOMC’s control over the Fed Funds Rate is price fixing, in the sense that the FFR is the “price” of overnight bank lending.
I would say that’s more than just possible, it’s likely.
2-3 years from now the administration will definitely take the credit for stabilizing prices.
(Not a crack on Obama - the same would have been true of McCain or Bush or whoever)
The lesser-of-two-evils/default position seems to believe that it is better to support prices at an artificially high level (and stop the bleeding) than it is to get to a true price.
They are worried about asset values tanking; thus all the plans to “save” the banks and/or underwater mortgage holders. In the meantime, keep interest rates at essentially zero, which (theoretically) will bring all the “pent-up demand” back on the market, when prices are seen (on paper) to stabilize.
Expect to see all kinds of press releases and/or fudged numbers showing that things have “stabilized” .
The Feds have been picking winners and losers for years by using tax/regulatory policy, so why should this be any different? It’s in the government’s interest to keep housing prices artificially high, otherwise governments at all levels would lose a lot of their revenue generating ability.
There are plenty of kool-aid drinkers out there, so this plan might actually work.
In the meantime, the knights are searching the farthest reaches of the kingdom, looking for the next “Holy Bubble”
“I wave my private parts at your aunties………your mother was a hamster, and your father smells of elderberries….go away, or I shall taunt you again.”
What pent up demand? Who’s honestly left to buy (who doesn’t also need to sell)? HO rates are at all time highs, there’s nobody left on the sidelines.
I’ve said it a million times on here, never buy a home when interest rates are at generational lows! When the rates rise, the price of homes goes down, and then you’re stuck with a home you can’t sell. You can always re-fi!
Buy when rates are high, re-fi when rates are low. Of course, this advice just doesn’t figure right with those paying 28% on their credit cards!
I love it how the grand solution of the braintrust is to fix prices, of course, they don’t actually call it that.
Isn’t price fixing illegal? If so, it is pretty easy to see why the policy is known as “stabilization,” which sounds very constructive.
What I want.
Aggrigator bank to buy up bad assets at whatever is needed to make depositors of the banks whole. Equity holders get nothing. We can debate whether bond holders should get 25% or 50%,l but in my opinion 100% for the bond holders is unacceptable.
Additional injections should go to solvent banks only.
Insurance companies? We evaluate 1-by-1. If they can stay solvent with a little help, we give them a lot of help. If they need a lot of help, they get no help.
Pension plans? Nothing. Let them fail. I’ll never get a pension. I’ll never be able to retire. I feel NO obligation to pay for others, something I will not get.
House prices. Let them fall back to 3x median income. If you can’t, or don’t want to pay, get out. No cramdowns, no assistance to people that can’t or don’t want to afford their homes. Get out!
AND, STOP BORROWING from foreigners. Force exchange rates to adjust or the trade deficit to go away.
That is pretty much all I am looking for.
Oh, get rid of a separate Social Security and Medicare tax. Roll it into income taxes as a small increase. Make payouts no longer related to what you paid. You get a flat amount basically equal to minimum wage.
Whatever plan we have for Medicare, we open to EVERYONE.
Make getting disability MUCH, MUCH harder.
Demobilize the military. Trim 50% from the Navy budget. 25% from air force. Trim special weapons programs. Redirect the money to boots on the ground, and support of them.
Tort reform to change 51% of jury 51% convinced, to 66% of jury 66% convinced of liability. Add ability of the jury to declare a claim frivilous (with the same 66% of jury 66% convinced) and the complaintent pays all legal fees of the defendant.
Is this too much to ask?
Bring back the draft. Pay draftees $100 a month and put them in old-school barracks, not cushy dormitories. You don’t want to serve? No problem - but you don’t get to vote and you don’t get a dime in gov’t benefits, ever. That would save billions in recruiting and personnel costs, and get middle-class kids back into the combat arms - and get their parents more interested in how our military is led, trained, and employed. Get rid of the politicians in uniform and promote on operational results and merit. Don’t commit the military unless you absolutely have to. End all the affirmative action and social engineering schemes, especially the feminization of the military, which has severely eroded combat effectiveness and unit cohesiveness.
you don’t get a dime in gov’t benefits
How about a simpler alternative: do away with “government” benefits. They’re not the government’s to give anyways. The government has nothing except what it takes from its citizens.
Are you proposing women not vote/get benefits or that only men have to serve in order to get a franchise/government benefits? I don’t see how you combine that you must serve to get a vote and keep women out of the military.
I would not keep women out of the military. I would definitely keep them out of the combat arms and combat support services, which make up maybe half of the Armed Forces. That leaves plenty of other opportunities to serve. That is based on personal experience and observations, not political correctness.
Sammy,
Here’s my personal experience and observation.
I served in combat support services. Drove a 2-1/2 ton truck. Was responsible for the upkeep of my own vehicle as well as making sure my squad kept their vehicles in shape. At no time did I ever doubt I could be called to battle. I was trained right along with my fellow soliders. Trust me when I say this, If the need had ever arrived I would have no problem protecting myself or any of my squad.
Just a few more facts, when I was in the Army, the statistics at the time showed women were less likely to go AWOL, create trouble and followed orders better than their male counter parts.
Sammy, sammy, sammy.
Everything you just suggested is unconstitutional. The “feminization” of the military can only be a boon, since females are so much better at organization and planning than males are. As soon as they weed out all the rapists and psychopaths, our military will be something to be proud of.
You obviously haven’t spent a single day in the military, much less in an actual combat zone.
The “rapists and psychopaths” make up a tiny, tiny fraction of our military - I’m guessing about the same proportion, or smaller, than exists in the general populace. Individuals like that are very rare in the elite forces or combat arms, where that sort of behavior will not be tolerated by the vast majority of the troops or officers. Unfortunately, the military has really dropped its standards in recent years to meet recruiting goals, and more of the criminal element, or mentally unfit, are getting in. That’s why I favor a draft. It would allow much higher standards and more aggressive weeding out of people who should never be put in life-or-death situations or trusted to act with restraint and discipline.
The “feminization” of the military can only be a boon, since females are so much better at organization and planning than males are.
Yes, that pathetic, babbling female general, Janis Karpinsky, who used the “No one ever told me what was happening” defense to explain the antics of her “reservists gone wild” troops at Abu Gharib prison, is the very model of organization and planning. Or Abu Gharib’s poster child, the hideous Lindy Englund - a female, I think. Yes, that was a real boon, all right.
Sammy:
If rapists are rare in the military, then why have most female members reported being raped by other military personelle during her service?
I don’t know anything about Janis, but Lindsy or Lindy or whatever was the most minor player at Abu Gharaib. She was borderline retarded, and her commander not only told her to do it, but he also impregnated her (along with someone else). The responsibility for that one lies 95% with the men involved, yet certain female bashers choose to go the “blame the nearest woman” route.
“As soon as they weed out all the rapists and psychopaths, our military will be something to be proud of.”
Same could be said of public schools, Big V. How many female teachers rape 14-year-old boys anyway?
I only know of one female teacher who is accused of raping a 14-year-old boy, and that sounds unlikely to me. It was probably just statutory rape, where the boy wanted it and was the aggressor in the relationship. Every single one of these “rapist female” stories have turned out that way. There are FAR MORE male teachers who rape/molest/manipulate their students, but those stories don’t make it into the news because people are fascinated with anything they can use to blame women for the masculine evils of the world.
This is a part of our cultural psyche, and it started right around the time we went from being hunter-gatherers to being farmers. If you take a cultural anthropology course or a mythology course, then you will learn about the roots of patriarchal mysogyny and the “blame the nearest woman” syndrome that I referenced above.
Everyone needs to understand Bigg V’s problem. It’s that he can’t bit_h any more because his choice is now in charge. And he’s as scared as his choice is. So he must keep blaming the guy who’s gone and that guy’s supporters, to deflect the coming criticism of his choice.
Um, Big V is a woman.
If rapists are rare in the military, then why have most female members reported being raped by other military personelle during her service?
And what moonbat source are you quoting on this? It’s complete BS.
I don’t know anything about Janis, but Lindsy or Lindy or whatever was the most minor player at Abu Gharaib. She was borderline retarded, and her commander not only told her to do it, but he also impregnated her (along with someone else).
Her commander was General Janice Karpinsky. Her boyfriend was a freakshow and mid-grade NCO named Charles Graner. She had no business even being in the prisoner area - she was a clerk, not a guard. The little ho-bag liked to come up to see her boyfriend, and willingly played along with his sicko little games. She was a disgrace to the uniform, as was her Commander and Graner. There was always be Charles Graners, and it’s the job of the commander to deal with them before they commit crimes and cause scandals.
“Women should be permitted to volunteer for non-combat service,…they should not be accepted, voluntarily or through the draft, as combat soldiers….We know of no comparable ways of training women and girls, and we have no real way of knowing whether the kinds of training that teach men both courage and restraint would be adaptable to women or effective in a crisis. But the evidence of history and comparative studies of other species suggest that women as a fighting body might be far less amenable to the rules that prevent warfare from becoming a massacre and, with the use of modern weapons, that protect the survival of all humanity. This is what I meant by saying that women in combat might be too fierce.”
Margaret Mead, response to question asking her views on the draft, June 1968.
anything happening now, good or bad, is officially Obama’s fault
What???
Anything that is a result of policies enacted from now on, okay. But stuff leftover? I don’t think so.
I don’t think Bush got the blame for the tech wreck. We put the blame for that on Greenspan and Clinton’s tech bubble.
He’s just another bitter Republican!
I’m gonna hold him to the same standards as I did GW. So long as BO protects the homeland and refrains from banging the interns, i’ll be satisfied.
JiC –
What about this argument: just because there were no terrorist attacks under GWB (except anthrax and 9/11), it doesn’t mean that we were protected from one that did not occur, necessarily. Couldn’t it mean that there just weren’t any or that they failed on their own? It’s just really hard to prove a negative (i.e. that Bush’s actions prevented a terrorist attack from NOT happening).
So I’m not even sure that GW did, in fact protect the “homeland”.
And do you really care about interns getting “banged”? Really? Thought you conservatives wanted folks out of the bedroom.
And, while Monica did give Slick Willie the rusty trombone, she did not have intercourse with him (I assume that this is what you meant by “banging”).
And yet you’re OK with GW being OK with torture (a tactic that has been shown not to give credible intel to the torturers and puts them on very shaky moral footing)? And OK with him having never run a successful business and making the US the bête noire of the world?
Your standards sound pretty low, so hopefully Obama can meet them! But then, I do like zaftig women, so we all have our own flexible “standards”, I suppose.
MrBubble
..Your standards sound pretty low..
I choose to have low expectations because doing so avoids disappointment. I could start higher.
For instance, I could expect BO to take the financial crisis seriously.
But on day one he allowed something near $100,000,000 in public funds to be pissed away on a party in his honor.
I choose not to care. I remain content for the time being.
Ah, a pessimistic optimist. Know what you mean!
As for the expensive party, I’ll bet that GWB’s party was nearly as expensive (with inflation). Now that’s a crappy argument on my part, but I’m choosing to believe that it’s more about continuity with a shift in power and a historical event.
But I agree that it would have been sweet if BHO put his foot down and said no party/the savings start here because we are in huge trouble. What a sh1t show that would’ve been, albeit true.
MrBubble and JIC see Polly’s explanation about the cost of the inauguration for both Obama and Bush.
“above” where? Searching both “Polly” and “inauguration” turns up nothing above..
Try this:
…some estimates reaching as high as $150 million….
…Obama’s inaugural committee has raised more than $41 million …
http://www.msnbc.msn.com/id/28707475/
Ok.. 150 minus 41 = $109 Million in public funds.
Just out of curiosity, what did they spend it on? ‘95 Dom.. full body massage.. annointed his feet with oil.. the whole 9 yards?
Sorry, I forgot to add in Bits Bucket today.
Here’s what I’d like to see:
1. Raise the age for eligibility for Social Security to the point where it can be solvent again. That’s the fairest way of dealing with it (but surprisingly, the least popular!) Don’t uncap the SS tax.
2. Provide a high-deductible universal health insurance. Face it: as genetic screening gets better, and computerized medical records follow you around, the class of “uninsurable” folks will get bigger and bigger. Let’s have a common risk pool that provides coverage over a certain amount ($6K?) set so that 95% of people will never have to file a claim during the year, and let the private market devise competitive ways of dealing with the first 5K/year of health care. Health costs are high because many people have no idea how much their insurance companies are actually paying….
3. No bailout for homedebtors. And strict enforcement to catch people who lied on mortgage applications, IRS returns. Make the deadbeats pay. That would raise the morale of the 75% of Americans who had nothing to do with the housing bubble, but are having to pay the price.
Of course, I won’t see any of these things under Obama (and no candidate would have addressed these issues properly, IMHO)
Raise the age for eligibility for Social Security to the point where it can be solvent again
Beein reading the WAPO? SS is solvent, through 2045 or somewhere thereabouts.
So….expand the Ponzi scheme to even greater heights by instituting a universal health care program where those who don’t work suck the lifeblood out of those who do work at an even faster pace than they do today.
Are you nearing retirement? Apparently you and lots of others on this board are too - and want to bleed younger generations even more.
reuvens plan will likely decrease the cost of healthcare for everyone.
Yes, by raising taxes significantly. Or is there indeed a free lunch?
“. No bailout for homedebtors. And strict enforcement to catch people who lied on mortgage applications, IRS returns. Make the deadbeats pay. That would raise the morale of the 75% of Americans who had nothing to do with the housing bubble, but are having to pay the price.”
+1 No bailout for the lenders either!
1930 tarrifs and tax the rich
1921 do nothing and market corrects
1990’s Japan do everything including “infastructcha”
“Obama hasn’t even been sworn yet…….the true test will be when someone in government admits that this Charlie-Foxtrot is too big to fix.”
Mortgage Interest rates @ 14+% for 16 months
Passbook savings rate @ 11% for 30 years
I’m whacked I tell ya!
“I had hopes that Obama would bring in some new blood, to do some creative thinking on what needs to be done. But it appears that he is stocking his cabinet with Clinton area retreads/Democratic Party shills (Aka, the same people that had a big hand in generating this mess).”
Your innocense is touching. What a rude shock these next four years are going to be.
Obama is an empty suit and his speech was boring and unmemorable.
Obama sole goal and accomplishment is to run for the next highest office. How long until he tries to annoint himself “King of America”.
Yes, make it so high that almost everyone dies before they collect.
“1. Raise the age for eligibility for Social Security to the point where it can be solvent again. That’s the fairest way of dealing with it (but surprisingly, the least popular!) Don’t uncap the SS tax.”
I second that.
Let’s make it even fairer - raise the age for Social Security to 85 effective, say - March 1, 2009.
If you aren’t 85 years old on March 1, 2009, you cannot collect Social Security - and no one younger than 85 is grandfathered in. You’re 69 and retired? 76 and retired? Not anymore if you’re subsisting in whole or in part on Social Security. Go back to work.
Could you imagine the howls by the geriatric set? It’s okay, of course, to let everyone else work until they are 75 or 80 or 85…
Eude, where are the jobs our geriatric set are supposed to take?
Do you want them driving airport vans? Schoolbuses, maybe?
Do you want them lined up, duking it out with 9000 Gen X, Y and Zers in the application line for a newly opened Kohl’s with 300 jobs to fill?
Please enlighten us.
Thank you.
‘Pres.I.Dent! Pres.I. Dent! Pres.I. Dent!
La la la! La la la!
He’s the Pres.I. Dent!”
That’s my chant! That’s my chant!
You know, I’m detecting one common thing, after just now again lightly skimming the threads today, and that is the only people on here are so bitter. I guess that’s ’cause the rest of us are busy being celebratory? So it’s a self-selecting group of grumpy lemon-heads.
All I know is, I sure prayed hard to Sweet Baby Jeebus last night, I knelt down and prayed: ‘Please don’t let anyone like my dad get anywhere near Barak Obama, and make sure any shots go wild, and that the glass in the limo is thick enough…’
Serious, my heart was in my throat as I watched the procession. I went ahead and cried again, I was so pleased, and so excited.
Sure, he’s a politician, but he ain’t a rich, OLD, white, entitled politician.
Thank you, Jeebus!
Okay, gotta go–gotta haul out even more pallets to the fire-pit, and make sure the beer is cooled nicely, and the coolers didn’t get knocked over by the retarded neighbor dog, and haul flammable stuff away from the trees.
Professor Bear? Saving thoughts for you, like I said yesterday! See how high I can jump over the bonfire.
Okay, see you grumps tomorrow! I’ll be hungover and frail–will that make you feel better? Huh huh huh?
HahahahahahahaAHAHAHAHAHAHAHAHA!
Lol. You sure do seem like a nice lady but perhaps it’s time to start taking your lithium again.
Crying at an inauguration? I just find that bizarre. But I find the whole cult of personality thing to be silly as well. Cults exist for a reason.
Sorry, Aretha Franklin made me cry.
Aretha Franklin and the Best Hat in the Universe made me cry.
You guys can be grumpy if you want, but no one’s bringing me down today.
You go, Ollie. I didn’t cry because I was at work, and crying at work just makes you look silly. The message was just what I wanted to hear. I’m like “finally”.
Sure, he’s a politician, but he ain’t a rich, OLD, white, entitled politician…
Not rich… Estimated net worth hovers around 7 million dollars.
Not old.. Purely a point of view..
Not white.. Genetically half white, and raised white so is actually more white than black.
Not entitled.. got one Right. Hillary was the entitled one.
I cried
I sobbed! What is this country coming to when a rich old bald guy isn’t entitled to office?
Now some flap jack with ideas that make sense comes in and ruins the whole party thing.
So I went to the cooler and opened a fresh 12 pk of Lienies
Oly I hope he succeeds. He can’t do any worse than what we have had for the last 30 years.
I feel like you and I are sisters. Didn’t get to the crying point, just kept my fingers and toes crossed and praying to a higher being no one would take a shot at him.
It seems we are a sharply divided nation. One part seeing a huge dark cloud approaching. One part with unrealistic expectations.
I am willing to take the hard path, as I think will be the one open.
My one HOPE, Mr. Obama, is that you bring my Sam and Melissa home alive.
Blue Skye,
Is Sam and Melissa your children? Are they serving in Iraq or Afghanistan? I too hope Sam and Melissa come home alive.
“For most any president today, odds are that we’d:
* be mostly out of our moderately deep recession in four years,
* add some symbolic financial rules that mostly lets old games continue,
* mostly watch as Israel, Russia, and China throw more weight around,
* mismanage another Katrina because governments are just bad at that,
* go deeper in debt “stimulating” and “bailing” because politicians love to spend,
* not much relax homeland security or immigration because we’re still scared of terrorists,
* mildly pull out of Iraq since the war has been going well lately but we don’t like to look weak,
* do little on carbon emissions or the coming Medicare train wreck as those are very expensive, and
* not reform medicine or education or welfare more than Bush’s Medicare drug benefit and “no child left behind,” or Clinton’s welfare reform, as those were unusually big changes.”
Robin Hanson
Odds are funny things. We shall see, I am hopeful.
I am hopeful also hoz.
I didn’t vote for Bush, however when the terrorists attacked the U.S. and Bush wanted to be the uniter I was hopeful for one brief shining moment, and then pfffft the good will was gone.
His Inaugural Speech could have gone like this:
“Values have shrunken to fantastic levels; our ability to pay has fallen; government of all kinds is faced by serious curtailment of income; the means of exchange are frozen in the currents of trade; the withered leaves of industrial enterprise lie on every side; the savings of many years in thousands of families are gone.
More important, a host of unemployed citizens face the grim problem of existence, and an equally great number toil with little return. Only a foolish optimist can deny the dark realities of the moment… Practices of the unscrupulous money changers stand indicted in the court of public opinion, rejected by the hearts and minds of men.
True they have tried, but their efforts have been cast in the pattern of an outworn tradition. Faced by failure of credit they have proposed only the lending of more money. Stripped of the lure of profit by which to induce our people to follow their false leadership, they have resorted to exhortations, pleading tearfully for restored confidence. They know only the rules of a generation of self-seekers. They have no vision, and when there is no vision the people perish.
The money changers have fled from their high seats in the temple of our civilization. We may now restore that temple to the ancient truths. The measure of the restoration lies in the extent to which we apply social values more noble than mere monetary profit.”
FDR - 1933 Inaugural speech
Oath flub merits a do-over, scholars say
Several constitutional lawyers said President Barack Obama should, just to be safe, retake the oath of office that Chief Justice John Roberts flubbed.
http://tinyurl.com/85mhzz
I had a feeling that would happen. He just misplaced a word. Jeesh.
Well, people are scared about the next four years, but at least Obama knows how to party. This Greater Depression might not be so depressing.
Bill Gates is calling it Depression 2.0
I noticed CNN Money has chilled with their whole Millonaires in the making. Yeah Johnny and Robin, that sucking sound you hear is coming from your home equity and 401K’s!