Just Wait Until Football Season!
November is right in the middle of football season, right? I’m assuming it was November when this mental specimen was elected. You laugh, but I’d actually like to encourage Congress to spend more time doing stuff like this and less time, you know, legislating. We can limit their damage by relegating them to doing school [...]
Lender, Spender, Whatever
Last weekend Ron Paul spoke at the Campaign for Liberty conference in St. Louis. Click over to watch the videos of his speech…I haven’t had a chance to see them all yet. But I did catch this big “ouch” in the transcript… The Federal Reserve was brought into existence in 1913 because they said they [...]
A ‘Permanent Fix’ Bailout And Why It Won’t Happen
Texas Congressman Louie Gohmert (R) has come up with an alternative to the $350 Billion economic stimulus package the Democrats are rumored to have ready for Obama to sign on January 20th. It’s pretty innovative and novel. You get to keep what you earn. That’s right. A two month tax holiday from FICA and income [...]
$700B Well Spent
I’m not one to take a one day sampling of the stock market and make a “see-I-told-you-so” snap reaction. Â It’s pretty unreasonable to think what happened in Congress on Friday would have much of an impact today–the assumption of the passage of the bailout was already priced into the market. Â But the reaction to today’s [...]
You Don’t Want This Turd?
How about if I smear it all over something you do want? Blue Collar Muse has the details on how the Senate is making an attempt to cram the bailout rescue down our throats (again) by attaching the bill to one that everyone is bound to vote for. So they are trying another well known [...]
I Can’t Begin To Thank My Congressman
Because www.house.gov is slammed.  Here’s what I got when I tried to use their site to send my Congressman a thank you for voting against the bailout rescue savior of the economy. Messaging Service Unavailable The House of Representatives is currently experiencing an extraordinarily high amount of email traffic. The Write Your Representative function is therefore [...]
Two Guys Who Get It
Brazilian President calls the bailout unfair to poor people… “Why give $700 billion to the banks and no money to the poor guys who lost their houses,” Lula asked, according to local media. He referred to the troubled U.S. housing market. I think he’s right, but for the wrong reasons. Poor people shouldn’t be given [...]
China To Halt US Lending?
From Reuters: Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the South China Morning Post reported on Thursday. As a half-full guy, I’m going to read this as “US Will Stop Borrowing Money From China” and be happy. Ok, I’m not [...]
A Possible Bailout Alternative?
It’s at least worth looking at. Â I was listening to Dave Ramsey this afternoon, and he mentioned the possibility of suspending the mark-to-market rules for the subprime industry temporarily. Â After all, there isn’t actually a 78% default rate on mortgages is there? In other words, mark-to-market accounting–not the reality of the economy or the actual [...]
Ron Paul on Glenn Beck Regarding Bailouts and Monetary Policy
Key points in this interview: Bailouts and continued printing of money means your currency is devalued, prices go up, and you are effectively taxed to fund these bailouts. The Treasury Secretary and Federal Reserve have no powers to spend money according to the Constitution. These actions only delay the inevitable. Â The market will eventually correct [...]
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