The Fed is never out of bullets - but can they shoot straight?

They are lining up the stars in the sky and sending out the trial balloons so they can do what they want to do, continue the same "solutions" that have not worked in the past.

From Eric De Groot's blog:
Eric De Groot: "Bullard: Fed will act if economy weakens further

QE to ∞ (infinity) = QE(1)+QE(2)+QE(3)...QE(n) as the economy weakness and social unrest organizes across the globe.

Headline: Bullard: Fed will act if economy weakens further

(Reuters) - The Federal Reserve will act if the economy weakens further and has the tools to do so, a top Fed official said on Friday.

St. Louis Fed President James Bullard said he expects the economy to grow modestly over the next year -- though the sluggish pace leaves it vulnerable to shocks.

"Should economic performance deteriorate, monetary policy will respond," Bullard said, according to slides of a presentation he was scheduled to make . "The Fed is not now, or ever, 'out of ammunition'."

With interest rates near zero, Bullard said, the Fed can support the economy through inflation and inflation expectations and asset purchases are a "potent tool".

More ignoring the "Rule of Holes".
More repetition of the "Definition of Insanity".

And they wonder why folks are rioting in streets. It's if these knuckle-heads want rioting in the streets and hints of Revolution.



Oh BTW. OWS is simply the leftist version of the Tea Party.

And they have the wrong address, they should occupy K Street and Pennsylvania Avenue in DC.
And wherever the Fed Building is. Put the fear of God into those idiots.
And bathe once in a while, perhaps.

And stop acting as if they speak for the ENTIRE 99%. THEY DO NOT!!!

Somewhere in the talking points, they missed the part about the 99% is made up of the approximately 50% that actually pay for all the goodies (which includes the 1% they despise) these idiots pine for and the "other 49%" percent -- the Free-Shit Army or FSA for short -- that benefits from others efforts.

So immediately, the movement needs to be re-named for accuracy.

Lets' refer to them as "The 49% - or the 49-ers" for short.

They effectively don't pay FEDERAL TAXES, but they want to put their grubby hands all over everybody else's wallets and tell THEM how THEIR money ought to be spent.

You want to complain about sales taxes you pay, march on your local government.

You want to complain about payroll taxes that allegedly fund Social Security and Medicare / Medicaid, wait until the conversation turns to how they stole the money from these supposedly dedicated funds to create illusion of the Clinton budget surplus. I've been waiting for that national conversation for a long time.

But don't complain about how FEDERAL TAXES are spent, when you don't provide any of the elbow grease or work product or income taxes to pay for the largess. Somehow, I feel like your voices shouldn't be heard from as much.

We spend too much time "greasing" the "squeaky wheels" in this country when they don't provide any of the "elbow grease" needed to keep the machine running.

Almost makes me want to provide a linkage between paying taxes and voting. Don't laugh, this is the type of "vote-buying" on the lower end of the income scale that we ignore choosing instead to focus campaign finance reform on the high-income / corporate side of the scale.

VOTE BUYING IS VOTE BUYING. I get that the corporations and the rich simply but the politician outright and leave the dirty work of buying the voter to their chosen puppet, but both ends of the problem need to be ripped out of the process.

That should be at or near both of side "To-Do List for Revolutionaries".

So step aside OWS. Shut up and let the adults handle this. And stop pretending that you have anything in common with the Tea Party. YOU DON'T!! They are the 51% that pay the bills.

You are the 49% that "dine and dash".

from the Associated Press:
Richmond tea party: Charge Occupy protesters or refund $10,000 we spent to rally in Virginia

http://www.therepublic.com/view/story/850c772fd9004fc5ac0585aef836fefb/VA--Tea-Party-Occupy-Protests/

Get cleaned up and get a job. Accomplish something. Then speak.

Stop relying so much on the largess and generosity of others.

That well is going to run dry every now and again.

And if you need bail money because your peaceful "demonstrations" are so like those of the Tea Party demonstrations, I hope you have George Soros' number.

Maybe Janet Napolitano will add you to her "list". HAHAHAHAHAHA!!!!

To know what is wrong with the Federal Reserve, one must first understand the
nature of money. Money is like any other good in our economy that emerges from
the market to satisfy the needs and wants of consumers. Its particular
usefulness is that it helps facilitate indirect exchange, making it easier for
us to buy and sell goods because there is a common way of measuring their value.
Money is not a government phenomenon, and it need not and should not be managed
by government. When central banks like the Fed manage money they are engaging in
price fixing, which leads not to prosperity but to disaster. -- Ron Paul

Thoughts on the Debt "Resolution" from The Who, Ron Paul and Macbeth

Wont Get Fooled Again

In its May 26, 2006 issue, the conservative National Review magazine published a list of "The 50 greatest conservative rock songs." "Won't Get Fooled Again" was ranked song number one. Pete Townsend responded on his blog as follows:

"It is not precisely a song that decries revolution - it suggests that we will indeed fight in the streets - but that revolution, like all action can have results we cannot predict. Don't expect to see what you expect to see. Expect nothing and you might gain everything.''

Townsend then goes on to explain that the song was simply ''Meant to let politicians and revolutionaries alike know that what lay in the center of my life was not for sale, and could not be co-opted into any obvious cause.''

Won't Get Fooled Again Lyrics

We'll be fighting in the streets
With our children at our feet
And the morals that they worship will be gone
And the men who spurred us on
Sit in judgment of all wrong
They decide and the shotgun sings the song

I'll tip my hat to the new constitution
Take a bow for the new revolution
Smile and grin at the change all around me
Pick up my guitar and play
Just like yesterday
And I'll get on my knees and pray
We don't get fooled again
Don't get fooled again

Change it had to come
We knew it all along
We were liberated from the fall that's all
But the world looks just the same
And history ain't changed
'Cause the banners, they all flown in the last war

I'll tip my hat to the new constitution
Take a bow for the new revolution
Smile and grin at the change all around me
Pick up my guitar and play
Just like yesterday
And I'll get on my knees and pray
We don't get fooled again
Don't get fooled again
No, no!

I'll move myself and my family aside
If we happen to be left half alive
I'll get all my papers and smile at the sky
For I know that the hypnotized never lie

Do ya?


There's nothing in the street
Looks any different to me
And the slogans are replaced, by-the-bye
And the parting on the left
Is now the parting on the right
And the beards have all grown longer overnight

I'll tip my hat to the new constitution
Take a bow for the new revolution
Smile and grin at the change all around me
Pick up my guitar and play
Just like yesterday
Then I'll get on my knees and pray
We don't get fooled again
Don't get fooled again
No, no!

YAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAH!

Meet the new boss
Same as the old boss

---
from Macbeth:

Tomorrow, and tomorrow, and tomorrow,
Creeps in this petty pace from day to day
To the last syllable of recorded time,
And all our yesterdays have lighted fools
The way to dusty death. Out, out, brief candle!
Life's but a walking shadow, a poor player
That struts and frets his hour upon the stage
And then is heard no more: it is a tale
Told by an idiot, full of sound and fury,
Signifying nothing.

from The Daily Capitalist blog:
Budget Debate Fraud Part 2 | The Daily Capitalist:

By the way, according to this note in the Wall Street Journal, we already have a de facto rating cut:

One-year CDS were quoted Monday at 0.45 percentage point, down from 0.75 percentage point Friday and a move equivalent to a drop of €30,000 in the cost of protecting €10 million ($14.4 million) of U.S. government debt, according to Markit. … Monday’s CDS levels now imply a credit rating of double-A on U.S. Treasurys, lower than their current triple-A rating and consistent with what some ratings companies believe is more appropriate for U.S. sovereign debt. Standard & Poor’s, for example, has threatened to cut the U.S. credit rating if Congress doesn’t produce viable austerity measures that will fix the U.S. deficit over the long term. 

---
from Ron Paul:

When a Cut is Not a Cut

“One might think that the recent drama over the debt ceiling involves one side wanting to increase or maintain spending with the other side wanting to drastically cut spending, but that is far from the truth. In spite of the rhetoric being thrown around, the real debate is over how much government spending will increase.

No plan under serious consideration cuts spending in the way you and I think about it. Instead, the "cuts" being discussed are illusory, and are not cuts from current amounts being spent, but cuts in projected spending increases. This is akin to a family "saving" $100,000 in expenses by deciding not to buy a Lamborghini, and instead getting a fully loaded Mercedes, when really their budget dictates that they need to stick with their perfectly serviceable Honda. But this is the type of math Washington uses to mask the incriminating truth about their unrepentant plundering of the American people…” -- Ron Paul

---

Imagine That!!! John Lennon a conservative???

You may say I'm a dreamer...
But I hope he's not the only one....
I hope someday all the leftists grow up and join us....
And the world will live as one.....

Oh, that was too easy!

Hat Tip to the Conservative Manifesto, original story appeared in the Toronto Sun.
http://www.torontosun.com/2011/06/28/lennon-was-a-closet-republican-assistant

Of course, this is confirmation of the wisdom behind the old Winston Churchill quote:

"If you aren't LIBERAL when you're 20, you have NO HEART. If you aren't CONSERVATIVE when you're 40, you have NO BRAIN."

Fortunately, many of these idealistic numb-skulls mature and get more realistic than idealistic, but there's always an Al Gore or Howard Dean (among others) that prefer to remain stubborn Pollyanna's.

Unfortunately, too many will continue to let the facts of reality get in the way of the idealistic fantasy world they have constructed for themselves.

Time (and wisdom) is on our side though.

John Lennon, a Ronald Reagan fan? Imagine that!! ROTFLAO.

The Conservative Manifesto -- In great victories, expect attacks.: Personal Assistant Confesses: John Lennon was in the Closet:

"John Lennon was a closet Republican, who felt a little embarrassed by his former radicalism, at the time of his death - according to the tragic Beatles star's last personal assistant.

Fred Seaman worked alongside the music legend from 1979 to Lennon's death at the end of 1980 and he reveals the star was a Ronald Reagan fan who enjoyed arguing with left-wing radicals who reminded him of his former self.

...

He says, 'John, basically, made it very clear that if he were an American he would vote for Reagan because he was really sour on (Democrat) Jimmy Carter.

...

'I also saw John embark in some really brutal arguments with my uncle, who's an old-time communist... He enjoyed really provoking my uncle... Maybe he was being provocative... but it was pretty obvious to me he had moved away from his earlier radicalism.

'He was a very different person back in 1979 and 80 than he'd been when he wrote Imagine. By 1979 he looked back on that guy and was embarrassed by that guy's naivete.'"

---

P.S. - BTW, This phenomena is not in any way limited to John Lennon. We have seen in the past where artists such as Prince and Bruce Springsteen have espoused liberal, spread the wealth policies with OPM (Other Peoples Money) but kept as much of the product of their own personal labor as they can. I have nothing against that, it's the American Way, just noting the apparent hypocrisy.

We also see the contradictions on college campuses:
http://slavieboy.blogspot.com/2011/04/brilliant-video-liberal-college.html

Yesterday, I heard a local ESPN jock relating a story about how a Chicago panhandler demanded (and they don't ask anymore, they demand) that he buy him a sandwich inside a local Subway shop. So being the nice, concerned citizen he is, this DJ agreed to buy the guy a meatball sub. As the order was being processed, the vagrant told the dude he also wanted a Diet Coke and a cookie, in addition to the sandwich. The guy claimed he drew the line and said 'No, I said I'd buy you a sandwich, that should be enough'!!

It struck me as ironic, because this guy is a strident Obamanomics, spread-the-wealth acolyte publicly, but from the nexus of the story, appears to harbor some latent Tea-Party philosophies deep down inside. Welcome to OUR WORLD, dude!!! Once again, ROTFLAO!!!

Tell me Lies, tell me sweet little lies

Fleetwood Mac - Tell Me Sweet Little Lies

The problem was simply a matter of gross, coordinated misrepresentation (a fancy way of saying “lying, on a large scale – and with the cooperation of regulators“)

The PTB (Powers That Be) keep telling us these lies, for our own good, of course. Isn't it time we were told the truth?

Just as the 2003-07 bear market rally was built on a shaky foundation of unsustainable credit and house price appreciation, the current bear market rally has been built on even shakier ground of surreal public sector intervention. This may well have “saved the system” or “prevented a depression” back in the opening months of 2009, as many like to believe. However, the reality (and even former Communist regimes figured this out a few decades ago) is that there is no such thing as a free lunch. - David Rosenberg

Instead we get continuing patronization from our leaders. Which IMO is a fanciful way of justifying lies and deceit.

Does Bernanke and the Fed remind anyone else of some modern day, economic equivalent of Colonel Jessup from "A Few Good Men"?

You Can't Handle The Truth



Remember this scene which provides the "fly on the wall" perspective to the climactic final courthouse scene?

A Few Good Men: The Santiago Meeting



As evidence this week, we have the released FOMC minutes from 2005. Many times in the past, I have said I would like to have been a "fly on the wall" during these pre-tumultuous times to have a feel for what theses guys were thinking as the financial system was beginning to show cracks.

Now we know. They were cracking jokes. Great job, fellas.

Jokes about housing....pre-crash

"–I offer one more piece of evidence that I think almost surely suggests that the end is near in this sector. While channel surfing the other night, to the annoyance of my otherwise very patient wife, I came across a new television series on the Discovery Channel entitled “Flip That House.” [Laughter] As far as I could tell, the gist of the show was that with some spackling, a few strategically placed azaleas, and access to a bank, you too could tap into the great real estate wealth machine. It was enough to put even the most ardent believer in market efficiency into existential crisis. [Laughter]~David Stockton, Dec. 13, 2005, economist and Fed comedian.

Jokes about spending and deficits...

“Tell me, Sam, is there really any difference between Republicans and Democrats when it comes to spending?” And Cohen said, “I want to think about it, do some research, and give you a serious answer.” He called back the next morning and said, “Yes, George, there is. Democrats enjoy it more.” [Laughter] “But otherwise there doesn’t appear to be any difference.”~Fisher.

Jokes about the declining value of the dollar...inflation....theft from savers.

“Absent a dollar depreciation that’s now probably on the order of 8, 9, or 10 percent, the deficit is going to steadily worsen. If the dollar were to start depreciating, that would slow the rate of deterioration. If the dollar depreciation that we put into the forecast were to get as high as 8 or 9 percent, that might plateau the deficit”.~Johnson

“One thing we can be sure of is that the value of the dollar will be worth 100 cents.” [Laughter]~Greenspan

Jokes about globalization...which robbed OUR economy of jobs.

“Everyone I’ve talked to continues to try to figure out ways to exploit globalization. Each of them, from the IT [information technology] guys to the big box retailers to the specialty chemical firms to the service firms, wants to have offshore supply. One of the CEOs said, “We have a long way to go in exploiting China.” We’ve heard that forever. And one of my favorites was the comment, “China, India, and Indonesia can make Italian ceramics better than Italians can now or could 200 years ago.” [Laughter]

Seems like collectively, Messrs. Greenspan, Bernanke -- and the aforementioned clowns and comedians who advise them -- should be rounded up, held and quartered in exactly the same fashion as Colonel Jessup was at the end of the movie.

The parallels between the meeting between Colonel Jessup and his underlings and Greenspan / Bernanke -- and the other FOMC clowns -- is too close for me.

To be drawn and quartered would be too good for some of these a#%-hats. They'll just change the narrative, change / obscure the facts and point fingers elsewhere. Problem is, the facts and the evidence of their behavior will get in the way.

My dad used to say, "Don't let the facts get in the way of a good story" whenever we tried to B.S. our way out of trouble of our own doing. I have a feeling these clowns are the children in the room today.

Time for good people to stand up and be the parents. These finger-pointing little children ("It's not my fault, he did it") have been in charge long enough.

"In our age there is no such thing as ‘keeping out of politics’. All issues are political issues, and politics itself is a mass of lies, evasions, folly, hatred, and schizophrenia." -- George Orwell

“Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights.” -- From "Gold and Economic Freedom" a 1966 Essay by Alan Greenspan

“THERE IS NO MEANS OF AVOIDING THE FINAL COLLAPSE OF A BOOM BROUGHT ABOUT BY CREDIT EXPANSION. THE ALTERNATIVE IS ONLY WHETHER THE CRISIS SHOULD COME SOONER AS THE RESULT OF A VOLUNTARY ABANDONMENT OF FURTHER CREDIT EXPANSION OR LATER AS A FINAL AND TOTAL CATASTROPHE OF THE CURRENCY SYSTEM INVOLVED.” -- Ludwig von Mises – Austrian Economist (1881- 1973)

Click on picture to make the fools dance:

Sorry fellas, I'm still trying to reconcile how we went from anticipating "exit strategy" from QE -- a strategy we didn't want to do in the first place -- to QEII.

Not sure how all this money -- Bernanke literally "making it rain" on Wall Street through POMO, to simulate a "Wealth Effect", helps anyone on Main Street when they are seeing:

1) food / fuel prices rise (and yes we do buy food and fuel [Laughter])
2) jobs being shed left and right (not saved or created [Laughter])
3) home prices (the original "wealth effect" [Laughter, no ROTFLAO]) melting like a snowman in Florida

In light of this mad dash to create inflation (to avoid deflation) minus wages keeping pace with said inflation (and they never do, haven't since 1970 or so [Laughter]

How did we pivot from "helping folks on Main Street and fighting greed on Wall Street" (Mr. Obama and Mr. Biden, what happened to fighting for Main Street? [Laughter]) to helping Wall Street again at the expense of Main Street. [Laughter]

I'm not sure how artificially inflating the stock market (through POMO) to create this artifical wealth effect helps anybody but the top 10% of income earners and wealth owners.

Main Street sees their 401K values (up [Laughter]) but not as much as their home values have gone down. [Laughter, no ROTFLAO]

Main Street doesn't feel your "Illusory Prosperity" (look it up, hint Mises), or what you call "wealth-effect" [Laughter], when house prices are plummeting, wages are decreasing or vanishing, and prices for things they actually buy (even though you don't count them in CPI [Laughter]) are increasing.

"Credit expansion cannot increase the supply of real goods. It merely brings about a rearrangement. It diverts capital investment away from the course prescribed by the state of economic wealth and market conditions. It causes production to pursue paths which it would not follow unless the economy were to acquire an increase in material goods. As a result, the upswing lacks a solid base. It is not real prosperity. It is illusory prosperity. It did not develop from an increase in economic wealth [i.e. the accumulation of savings made available for productive investment]. Rather, it arose because credit expansion created an illusion of such an increase. Sooner or later, it must become apparent that this economic situation is built on sand -- Ludwig von Mises

The Constitution mean something - but not to government officials

I don't know how many times I have said that our elected officials probably could not pass the type of Constitution or Civics test required of regular folks who graduate HS or local community colleges - now I have some data to back me up.

According to the following article written by Richard Brake for AOL News, the average elected official is less knowledgeable about the Constitution -- that many take an oath to uphold -- than the average citizen.

Accoridng to the article Mr. Brake is co-chairman of the Intercollegiate Studies Institute's National Civic Literacy Board.

Embedded in the article is a sample of the test questions. I scored 100%, which makes me smarter than the average politician, which is apparently not saying much.

Score one for the Tea Party, who pushed for the reading of the Constitution in the House earlier this week and who also brought in Supreme Court justices from both ends of the political spectrum (Scalia and Kennedy, I believe) to educate the representatives in Constitutional issues.

Some in Congress decried the moves as cheap political stunts. Apparently it was entirely necessary remedial work.


from AOL News:

Elected Officials Flunk Constitution Quiz

http://www.aolnews.com/2011/01/14/opinion-who-are-the-constitutional-illiterates/?a_dgi=aolshare_twitter#position1

For five years now, the Intercollegiate Studies Institute has been conducting a national survey to gauge the quality of civic education in the country. We've surveyed more than 30,000 Americans, most of them college students, but also a random sample of adults from all educational and demographic backgrounds.

Included in the adult sample was a small subset of Americans (165 in all) who, when asked, identified themselves as having been "successfully elected to government office at least once in their life" -- which can include federal, state or local offices.

The survey asks 33 basic civics questions, many taken from other nationally recognized instruments like the U.S. Citizenship Exam. It also asks 10 questions related to the U.S. Constitution.

Elected officials at many levels of government, not just the federal government, swear an oath to "uphold and protect" the U.S. Constitution.

But those elected officials who took the test scored an average 5 percentage points lower than the national average (49 percent vs. 54 percent), with ordinary citizens outscoring these elected officials on each constitutional question.

Examples:
Only 49 percent of elected officials could name all three branches of government, compared with 50 percent of the general public.
Only 46 percent knew that Congress, not the president, has the power to declare war -- 54 percent of the general public knows that.
Just 15 percent answered correctly that the phrase "wall of separation" appears in Thomas Jefferson's letters -- not in the U.S. Constitution -- compared with 19 percent of the general public.
And only 57 percent of those who've held elective office know what the Electoral College does, while 66 percent of the public got that answer right. (Of elected officials, 20 percent thought the Electoral College was a school for "training those aspiring for higher political office.")

Overall, our sample of elected officials averaged a failing 44 percent on the entire 33-question test, 5 percentage points lower than the national average of 49 percent.

The fact that our elected representatives know even less about America's history and institutions than the typical citizen (who doesn't know much either) is troubling indeed, but perhaps helps explain the lack of constitutional discipline often displayed by our political class at every level of our system.

Given this dismal performance, it would seem that last week's House reading of the Constitution shouldn't be described "presumptuous and self-righteous," but as a necessary national tutorial for all elected officials.

When elected officials take an oath "to protect and defend the Constitution," shouldn't they know what they are swearing to?

AMEN TO THAT, BROTHER. YOU'RE PREACHING TO THE CHOIR

Let's start listening to the 'kooks' more...the 'geniuses' got us in to this mess

The current Federal Reserve moguls returned to the scene of the crime this weekend -- Jekkyl Island, GA -- where plans for the Federal Reserve system were hatched one hundred years ago. In that time the value of the currency, which they are mandated to protect, has decreased nearly one hundred percent. As I have mentioned before, they are on pace to totally destroy the dollar -- to have it go from being worth less (two words) to worthless (one word) -- in another two or three years.

The only politician who seems to have a good grasp on what this means and what to do about it, Ron Paul.

RON PAUL CNBC INTERVIEW:

"I think the Fed will self-destruct. People will desert the dollar. I think the Chinese are hinting that already. They are not wanting our dollars as much as raw materials. This is a deeply flawed monetary system. Here we have a small group of people who can create $600 billion with the stroke of a pen... I don't know where people are coming from to think that this can work. What really astounds me me is how tolerant the people are, the people in Congress and the financial market, where did this authority come from? Now somebody outside of the government can spend trillions of dollars and not think anything about it. It doesn't work, it's a failure. And next year it will be more. Bernanke is very clear on what he is going to do - he is going to create money until he gets economic growth and there is no evidence to show that just creating money causes economic growth."

But he's the one who is branded by the major media outlets (on both sides) as a kook.

And he's the one who was branded by his fellow Republican's as a kook during the 2008 primaries.

They apparently should have been listening more closely to Mr. Paul than they did. Perhaps next time (2012), they will.

Perhaps more of the electorate will help them with their hearing and comprehension problems.

BTW, I know how he feels. I continue to burst out singing "Silver and Gold, silver and gold...." at random times throughout the day a lot more nowadays than I used to.

SILVER AND GOLD - AREN'T THEY JUST THE CUTEST THINGS??

I wonder why? Maybe because Gold crossed $1,400 today and Silver seems to be accelerating towards $30 an ounce.

It's funny that these two metals are also referred to as "honest money" but the signals that they are sending are somewhat "confusing" to the current Federal Reserve chairman.

I believe he knows exactly what kind of signal these two "honest money" markers are saying as he embarks on his quest to devalue the "dishonest money" - the dollar - that is under his stewardship. So liar, incompetent - you take your pick there Benny-boy. But history is going to put one of those labels on you, if not both, and they will stick.

Gold and Silver seem to be appreciating at a much more rapid rate than the assets (stocks, homes, commodities) that "Bubbles" Ben Bernanke seems to be trying so desperately to inflate.

I wonder why that is?

Hmmm......given the choice between "honest" and "dishonest" it confuses our intellectual genius of a Fed Chairman that people would choose honest over dishonest? WOW!!! That tells me something -- in rather unambiguous terms, no less -- about both Ben Bernanke and the monetary system that he currently oversees. Might be time for some SERIOUS reform in that area.

I suggest that the American people through their elected representatives -- help Benny with his listening and comprehension problem.

While we're at it, look at this:

Even our own Sarah Palin understands what is going on here. You go girl.

From the National Review:

Palin to Bernanke: ‘Cease and Desist’

http://www.nationalreview.com/corner/252715/palin-bernanke-cease-and-desist-robert-costa

Here are snippets from Palin’s prepared remarks obtained by National Review Online:

I’m deeply concerned about the Federal Reserve’s plans to buy up anywhere from $600 billion to as much as $1 trillion of government securities. The technical term for it is “quantitative easing.” It means our government is pumping money into the banking system by buying up treasury bonds. And where, you may ask, are we getting the money to pay for all this? We’re printing it out of thin air.

The Fed hopes doing this may buy us a little temporary economic growth by supplying banks with extra cash which they could then lend out to businesses. But it’s far from certain this will even work. After all, the problem isn’t that banks don’t have enough cash on hand – it’s that they don’t want to lend it out, because they don’t trust the current economic climate.

And if it doesn’t work, what do we do then? Print even more money? What’s the end game here? Where will all this money printing on an unprecedented scale take us? Do we have any guarantees that QE2 won’t be followed by QE3, 4, and 5, until eventually – inevitably – no one will want to buy our debt anymore? What happens if the Fed becomes not just the buyer of last resort, but the buyer of only resort?

All this pump priming will come at a serious price. And I mean that literally: everyone who ever goes out shopping for groceries knows that prices have risen significantly over the past year or so. Pump priming would push them even higher. And it’s not just groceries. Oil recently hit a six month high, at more than $87 a barrel. The weak dollar – a direct result of the Fed’s decision to dump more dollars onto the market – is pushing oil prices upwards. That’s like an extra tax on earnings. And the worst part of it: because the Obama White House refuses to open up our offshore and onshore oil reserves for exploration, most of that money will go directly to foreign regimes who don’t have America’s best interests at heart.

We shouldn’t be playing around with inflation. It’s not for nothing Reagan called it “as violent as a mugger, as frightening as an armed robber, and as deadly as a hit man.” The Fed’s pump priming addiction has got our small businesses running scared, and our allies worried. The German finance minister called the Fed’s proposals “clueless.” When Germany, a country that knows a thing or two about the dangers of inflation, warns us to think again, maybe it’s time for Chairman Bernanke to cease and desist. We don’t want temporary, artificial economic growth bought at the expense of permanently higher inflation which will erode the value of our incomes and our savings. We want a stable dollar combined with real economic reform. It’s the only way we can get our economy back on the right track.

Another kook according to the media.

Why does it seem to me -- and a growing number of people recently -- that a lot of the people that the media from both sides of the aisle seems to delight in portraying as 'out of the mainstream kooks' who have nothing to offer, are making the most sense?

VOTE THEM ALL OUT - THAT'S JUST GOOD ADVICE FOR THESE TRYING TIMES

If that doesn't work, Rinse, Lather, Repeat. Until we find some public servants who understand the meaning of the word "servant". I guess most of them understand the meaning of the word public, but I wouldn't mind them having to take a test to prove it. Maybe throw a question or two about the Constitution just to make them really squirm.

If that wasn't enough reason to like Ms. Palin here's 10 more from Doug Giles:

Why Palin Petrifies Progressives

Doug Giles

Here’s why I believe the dour democratic dames particularly dislike Palin. Check it out:

1. Palin’s hot and can rock a pair of heels, hunting boots, or any garment she dons. And you can tell she knows it and likes it. Most of the ladies on the Left, however, cannot—and we all know how jealous and petty some chicks can be when they’re aesthetically upstaged (cat fight).

2. They hate Sarah because she’s supposedly anti-intellectual. However, I’d love to see Tina Fey, Katie Couric or Joy Behag go mano a mano with her on any given topic and see who comes off looking like Snooki.

3. The feministas don’t dig SP because she’s had five kids (one of whom has Down’s Syndrome) and has never considered offing any of them in her womb.

4. She believes in the Father, the Son and the Holy Ghost, and they hate Christians.

5. She’s a conservative, and they hate conservatives.

6. She’s insanely successful, and she did it without curtsying to their wacked weltanschauung.

7. Her husband’s not some prissy, manicured metrosexual man-child but an ass kicking Alaskan.

8. She hunts and fishes. Her motto: Shoot it. Stuff it. Hang it on a wall, baby.

9. She’s unapologetic to all of the above.

10. And finally, they know that if she ever makes it to 1600 Pennsylvania Avenue that she’s going to hand the Dems their shriveled BB-sized cojones on a free market platter while the majority of the USA gives her a standing ovation.

And that, my children, is why Palin petrifies the paranormal progressives.

KEEP ON HATING, BITCHES!!!

I agree with the sentiments portrayed by this political cartoon. This woman virtually single-handedly raised the Republican Party from the grave, And we shall see how they repay her. My guess would be a knife in the back or a stick in the eye or some other such nonsense. Once they begin to believe that the people turned to them because of their own virtues.

That's why I would not mind seeing a Paul - Palin option out there in 2012. And if that means the Repubs don't win, or it siphons off votes, too bad. Maybe these kind of independent thinkers are what we need.

And if the Dems need to rehab some moderates like Evan Bayh, or one of my personal favorites from the past, Bill Bradley, then I think we would be making some real, positive change in our government.

How did guys like that get chased off the scene so rapidly? Hmmm......I wonder?

As I have said before, we are probably overdue for a Revolution in this country. Hopefully, this can be a peaceful one. Next election, let's put the 'kooks' in charge -- we can't do much worse.

The Past, Present and future in Politics

The election results are in. There are still votes to be counted and races to be decided, but maybe now is a time to step back, take a deep breath, distance ourselves from the white-hot rhetoric of campaigning and take a look at what has been presented to us. We are at a very important crossroads here in the good old USA.

Take a look at the passion of a Tea Partier, the cool logic and wisdom of a Thomas Sowell, a sobering video from Citizens Against Government Waste and an inspirational acceptance speech by a person who is helping to change the face of the Republican Party, Marco Rubio.

And my other personal favorite Lt. Col. Allen West did win in Florida. He understands the Constitution when it says that the government should "promote the general welfare" not "provide welfare". Therein lies one of the fundamental differences we face today. Listen to this man and tell me you would not line-up beside him or follow him into battle.

GOD BLESS THIS MAN AND GOD BLESS AMERICA!!

Since it appears to be such a major issue, check the tape of West's acceptance speech as the camera pans the crowd around the 7:45 mark. Check out the racial composition of the crowd and then look again at Allen West. West is a product of the Tea Party. Then tell me if the truth fed to you by some of these knuckleheads in the media isn't just some sort of artifice to divide people rather than bring them together. Oh, and please, just one of you haters from the left please refer to Lt. Col. Allen West as an Uncle Tom or an Oreo. And please do it to his face. And please, Oh God, please let me be there to see it.

Anyway, roll the tapes. Somewhere down the line of this post, I do believe you will be looking at the next President of the United States. God willing, sooner rather than later.

It may have helped to have some of this information before voting but I was a little bit distracted by the Giants recently.

WOW!! THESE PEOPLE SEEM MORE CONCERNED AND PASSIONATE ABOUT THEIR COUNTRY THAN A DANGER TO IT.



http://thedebtweowe.com/a-stunning-rendition-of-the-fourth-verse-of-the-star-spangled-banner

Political correctness dominates America today and we have lost many of the principles that this nation was founded on. If the pilgrims were still alive today, they would be trying to run away from America.

One year, in school we recited this version. For what reason, I don't recall. So I do know the words to this verse by heart. You probably could not recite this version...in a public school today. And there is something fundamentally wrong with that.

And please don't start any of that "I don't see any people of color in that video" nonsense. To that I can only ask one question.

"WELL, WHY NOT?"

A similar variation of the same question crossed my mind around the 7:50 mark of the Allen West acceptance speech video. Some things need to change. Very soon.

I'll let Thomas Sowell explain one of the other "big issues" that some of the "enlightened" ones pretend they understand better than the rest of us.

They spent a good part of the last week or so trying to catch Christine O' Donnell in a Palin-like "gotcha" moment that backfired. It simply displayed either their ignorance of the Constitution or their utter contempt for same, take your pick.

http://www.nationalreview.com/articles/251250/forgetting-constitution-thomas-sowell

Forgetting the Constitution

The assurance that “separation of church and state” is in the Constitution shows our elites’ ignorance.

Politics is not the only place where some pretty brassy statements have been made and repeated so often that some people have accepted these brassy statements as being as good as gold.

One of the brassiest of the brass oldies is the notion that the Constitution creates a “wall of separation” between church and state. This false notion has been so widely accepted that people who tell the truth get laughed at and mocked.

A recent New York Times piece said that it was “a flub of the first order” when Christine O’Donnell, Republican candidate for senator in Delaware, asked a law school audience, “Where in the Constitution is the separation of church and state?” According to the New York Times, “The question draw gasps and laughter” from this audience of professors and law students who are elites-in-waiting.

The New York Times writer joined in the mocking response to Ms. O’Donnell’s question, though admitting in passing that “in the strictest sense” the “actual words ‘separation of church and state’ do not appear in the text of the Constitution.” Either the separation of church and state is there or it is not there. It is not a question of some “strictest” technicality.

The First Amendment to the Constitution of the United States begins, “Congress shall make no law respecting an establishment of religion.” There is absolutely nothing in the Constitution about a “wall of separation” between church and state, either directly or indirectly.

For more than a century, no one thought that the First Amendment meant that religious symbols were forbidden on government property. Prayers were offered in Congress and in the Supreme Court. Chaplains served in the military and presidents took their oath of office on the Bible.

But, in our own times, judges have latched onto Jefferson’s phrase and run with it. It has been repeated so often in their decisions that it has become one of the brassiest of the brass oldies that get confused with golden oldies.

As fundamentally important as the First Amendment is, what is even more important is the question whether judges are to take it upon themselves to “interpret” the law to mean whatever they want it to mean, rather than what it plainly says.

This is part of a larger question, as to whether this country is to be a self-governing nation, controlled by “we the people,” as the Constitution put it, or whether arrogant elites shall take it upon themselves to find ways to impose what they want on the rest of us, by circumventing the Constitution.

Judges circumvent the Constitution by reading their own meaning into its words, regardless of how plain and unequivocal its words are.

The Constitution cannot protect us and our freedoms as a self-governing people unless we protect the Constitution. That means zero tolerance at election time for people who circumvent the letter and the spirit of the Constitution. Freedom is too precious to give it up in exchange for brassy words from arrogant elites.

NOW THAT'S DANGEROUS. WE HAVE FOLKS IN THE HIGHEST POSITIONS OF POWER IN THIS COUNTRY WHO ARE EITHER IGNORANT OR DERISIVE OF THE CONSTITUTION.

This is the looming danger we face as a nation and all these folks that seek to pit one group against another are diverting our attention from a problem that will fundamentally change our country and make our way of life and our standard of living unrecognizable and unreachable for future generations.

from Citizens Against Government Waste:



The rich rule over the poor, and the borrower is servant to the lender. - Proverbs 22:7

And now, since it is becoming increasingly apparent that the whole "Hope & Change 1.0" thing was nothing more than a pile of rhetoric, I give you some real hope for some real change looming on the horizon.

MARCO RUBIO ACCEPTANCE SPEECH:




LT. COL. ALLEN WEST, "THE REVOLUTION" SPEECH:



LT. COL. ALLEN WEST ACCEPTANCE SPEECH:

Maybe the NAACP should look into this

This is the sort of circular firing squad that the leftists bring on themselves as a result of the (over) playing the race card. This is from a CNN anchor, one of the bastions of leftist thought, that never spares an opportunity to accuse those from the other side of the ideological spectrum of being "hate-filled racists".

Listen to this hate-filed, bigoted, diatribe this guy goes into when talking about those who, for the most part, are part of the "big tent" that is the Democratic Party. His friends, his comrades, his buds. Then extrapolate out to see where some of the venom comes into play when they talk about people that they don't agree with. With friends like this guy, who would need enemies?

These guys always mistake xenophobia for real racism when they are pointing the finger at others. Their own bigotry gets a pass as being "satire" or comedy. These guys always excuse their own brand of racism and excoriate any hint or trace of it in others. "Do as I say, not as I do", I guess

I love when the host defended/excused himself in this manner, but he did say that the job of a comedian is to "lower others to raise themselves". Sounds like the prevalent mind-set of the loony left. One big joke. It explains Al Franken, David Letterman and all the other yuksters who want to make serious issues into a joke and "lower others (that disagree with them) to raise themselves. Typical.

This Sanchez guy is just a little ball of hate. He didn't spare anybody. He should have spent less time sucked up snot and more time thinking about what he was saying. I have a feeling his career just hit a speed-bump.

CNN'S RICK SANCHEZ - HATE SPEECH FROM THE LEFT


http://www.theblaze.com/stories/rick-sanchez-jon-stewart-is-a-bigot-news-networks-are-run-by-jews/

CNN’s Rick Sanchez is sick and tired of being treated as a second-rate newsman. So yesterday, he went off on those who he feels have relegated him to the “second tier” of broadcasters — Stephen Colbert, Jon Stewart, and his own network, CNN — and turned a 15 minute interview into an over 20 minute poor-me discussion on race.

Appearing on Pete Dominick’s satellite radio show, Sanchez railed against “elite, Northeast establishment liberals“ who ”deep down, when they look at a guy like me, they see a guy automatically who belongs in the second tier, and not the top tier.” He then lumped the Comedy Central hosts into that group, and especially went after Stewart:

I think ESPN's J.A. Andande had it nailed pretty good in a recent article discussing the LeBron fiasco and how race may or may not have played into it. When he uses the term "tribalism", that is virtually synonymous with "xenophobia" or a preference to be in the company of "people like ourselves". It's human nature and rooted in a survival instinct.

from ESPN.com

http://sports.espn.go.com/nba/trainingcamp10/columns/story?columnist=adande_ja&page=LeBronRace-101001

That brings us to an essential component we must understand when it comes to any discussion of race and the NBA. It's OK for people to root for people who bear the most resemblance to themselves. I had no qualms with white Boston Celtics fans who bypassed racks of Kevin Garnett and Paul Pierce jerseys to buy a Brian Scalabrine jersey. If they could identify more with him -- to the extent almost anyone can identify with a 6-foot-9 man with OrangeSicle-colored hair -- that's fine. It's no different than black people who previously didn't care about the difference between a serve and a volley rushing to the TV to cheer for Venus and Serena Williams. We all do it to some degree, be it with athletes or even "Price Is Right" contestants. We tend to support those representing our racial group.

It's not racism. I prefer the term that movie producer (and soon to be Golden State Warriors owner) Peter Guber used repeatedly in his conversation with Charles Barkley in Barkley's 2005 book "Who's Afraid of a Large Black Man?": tribalism.

Tribalism is about familiarity within the known entity. It's not about hatred of others, it's about comfort within your own, with a natural reluctance to expend the energy and time to break across the barriers and understand another group.

Most of what we're quick to label racism isn't really racism. Racism is premeditated, an organized class distinction based on believed superiority and inferiority of different races. That "ism" suffix makes racism a system, just like capitalism or socialism. Racism is used to justify exclusion and persecution based on skin color, things that rarely come into play in today's NBA.

He nails it again when talking about the Lebron James and Dan Gilbert (Cavs owner) battle of the barbs when LeBron left the Cavs at the alter. But he could have easily have been talking about Albert Haynesworth's misguided comments about being treated like a slave or a prostitute by the Redskins who seemingly are just trying to get a minimal amount of return from a huge amount of money invested in this bust.

It began with Jesse Jackson's claim that Cleveland owner Dan Gilbert's late-night rant about LeBron's departure reflected a "slave master mentality" and that "He sees LeBron as a runaway slave." It was an overly exaggerated reaction to the reaction. If Gilbert really saw LeBron as a slave, he would have tracked him down with bloodhounds and lynched him. That's what slave masters did to escaped slaves. That's why I'll never equate professional or collegiate athletics to slavery.

Haynesworth comparing his so-called struggle to slavery. C'mon man!!

http://sports.espn.go.com/nfl/news/story?id=5617037

None of these type of incidents do any good at reaching the goal of promoting better understanding and bringing people closer together. It causes an inertia to set in and makes it easier for people to avoid the problem rather than confront it.

They cause real racists to become better at hiding their tendencies and cause people to "see" racism behind everyone because they believe that "everyone" is hiding their "true" tendencies. It drives racism underground and makes it harder to solve the problem.

These false, misguided or misapplied accusations of racism when human nature is really at play drives a wedge between good people.

The racist label has become almost as devalued as the dollar lately because many times it describes situations that have little or nothing to do with race.

People are different, we need to learn how to acknowledge, tolerate and at times celebrate the differences. This drumbeat of suspicion, accusation and demonization does not do anybody a lick of good and is often as evil as racism itself. That's the paradox that these purveyors of hate need to start understanding by taking a good, long, hard look in the mirror.

For the most part:

People who rail against "illegal immigration" are not racist against immigrants - or they would have to hate all immigrants including legal, productive immigrants which most Americans, by nature derive from. They are against the "illegality" issue.

People who oppose the mosque because its insensitive are not racists or bigots or Islamaphobes just because the disagree. They just don't think its a good idea. They see it as inappropriate. "Not there, not now" doesn't mean they hate any Muslim or mosque built anywhere.

People who rail against LeBron or Michael Vick -- or whomever the controversy du jour is -- don't hate black athletes or blacks in general. They are mostly upset about stupid behavior.

People who rail against President Obama are not inherently racist or the Tea Party movement would have coalesced somewhere around the time it was apparent that he was going to defeat john McCain. And that was pretty early in the process, THERE WAS TIME. But he got elected and by being judged on the basis of his work as President, he is in a sense the personification of MLK's dream of being judged by the content of his character.

I guess in this case, the phrase that "people who live in glass houses shouldn't throw stones" would apply. It's time to put these false accusations of racism away for a bit and see if we can't bring people together, instead of driving people apart.

In Aesop's fables, when the boy falsely cried wolf too many times, he was ignored when the wolf actually appeared. That is the route we are clearly travelling.

The moral is stated at the end of the fable as:

Even when liars tell the truth, they are never believed. The liar will lie once, twice, and then perish when he tells the truth.

Trouble for the NAACP...

Apparently, PJTV's Tea Party Tracking Poll looked at the Tea Party and found some results that perhaps the NAACP should take a look at. Apparently 1/3 of the folks they claim to represent do not seem to see the world through the same set of glasses that they would like them too. This is really good news for the future. Unless you are employed by the NAACP.

FROM WORLDNETDAILY:

SOMETHING IN THE AIR
Surprise! 1/3 of blacks back tea-party movement
'The wheels on the race-card bus are beginning to fall off'

http://www.wnd.com/index.php?fa=PAGE.view&pageId=207533

A new poll released this week soundly contradicts critics' claims that the tea-party movement is "fringe," "white" and "racist."

PJTV's Tea Party Tracking Poll has monitored nationwide sentiments toward the tea party on a weekly basis since Aug. 2. The poll's most recent reports reveal the following results:

The number of people who identify as "members" of the tea party has more than tripled over the last month alone, up to 21 percent of likely voters;

Fifty-five percent of those surveyed said they support the tea parties based on the movement's positions on the issues;

Among the likely voters who are black, 32 percent said they would vote for a candidate backed by the tea parties.
The last statistic caught the attention of PJTV.

"Questions of racism within the tea party have been raised for months now," said PJTV's Polling Director Vik Rubenfeld in a statement. "Our survey found that more than one in three African-Americans support the movement. Moreover, the data revealed that 32 percent are also likely to vote for a congressional candidate whom the tea party supports."

Tea Party as Third Party or the Torch and Pitchfork Crowd personified?

This will be the long-term future direction of the Tea-Party IMO.

The RINO's will regroup and reclaim their position within the GOP and push out the "Tea Party element" within the GOP.

They will be joined by the Blue Dog Dems -- who also feel out of place withing their own party -- and some Independents.

The D,I,R and TP's will each corral about 25% of the electorate.

The Crist's and Castle's and Murkowski's and Arlen Specter's of the world show a disgusting sense of entitlement and "how dare they toss me aside" attitude that people find disturbing.

The government as a whole has a sense of "how dare you question the methods by which we deliver you government" through this behavior and the continued foot-dragging on issues such as auditing the Fed. Regular folks and businesses cannot turn down an opportunity to be audited by government officials like the IRS or the SEC. But government routinely avoids having the light of day turned to their activities and the people are now suspicious as well as angry.

The government and the Fed is now afraid that if regular folks become embedded in their little country club setting and give the people an inside look at what goes on in Washington that their would be a revolution. Hopefully, it's a peaceful one.

From Gallup:

PRINCETON, NJ — Americans’ desires for a third political party are as high as they have been in seven years. Fifty-eight percent of Americans believe a third major political party is needed because the Republican and Democratic Parties do a poor job of representing the American people. That is a significant increase from 2008 and ties the high Gallup has recorded for this measure since 2003.

We can see the seeds being planted in the following stories from the past week.

Trouble to the right of me.

from publiusforum.com

http://www.publiusforum.com/2010/09/18/country-club-rino-republicans-throwing-temper-tantrums/

Country Club, RINO Republicans Throwing Temper Tantrums

September 18, 2010

-By Warner Todd Huston

One of the interesting things of this election cycle has been to see what sore losers RINOS and country club Republicans are becoming. Since the Tea Party Movement has been throwing establishment GOPers out right and left (or maybe that’s let and left) some of them have responded with petulance instead of accepting the will of the voters.

In fact we’ve been seeing quite a few little tantrums thrown by the RINO set as voters have been turning against them.

Recall that “Benedict” Arlen Specter had to jump parties because Republican Pat Toomey was encroaching on the privilege that Specter assumed he’d earned. Once it became clear that Toomey was the GOP choice, Specter petulantly snubbed him and no support was forthcoming from
supposedly life-long Republican Specter.

Are all these temper tantrums really all an effort to support the “most electable candidate,” i.e. the RINO? Or is this a RINO protection racket we are seeing? All I know is that in many cases this year the voters are speaking for the Tea Party-styled candidates, those candidates that stand for real conservative values. Yet the country club set, the RINO faction is standing in the way of the will of the voters.

And trouble to the left of me.

from Fox News

http://www.foxnews.com/politics/2010/09/22/blue-dog-democrats-use-health-care-overhaul-campaign-punching-bag/

Blue Dog Democrats Use Health Care Overhaul as Campaign Punching Bag

When House Speaker Nancy Pelosi let 30 Blue DogDemocrats break ranks to vote against the controversial health care overhaul in March, she probably didn't expect them to go the extra mile and campaign against it in the fall.

But for several of these fiscal conservatives, the bills they didn't vote for have become far more important to their campaign message than the legislation they supported.

Members of the so-called Blue Dog Coalition are railing against the health care bill, and other Democrat-sponsored spending packages, in a bid to highlight their independence from the Washington establishment. In a year when spending is a top voter concern and incumbency can translate to liability, Democrats in moderate-to-conservative districts are using their ads, websites and public appearances to condemn their party's marquee legislative achievement in the closing weeks of the campaign.

"The majority of the American people are against it. I believe that our nation can't afford it. And I didn't vote for it," Rep. Gene Taylor, D-Miss., told Fox News in reference to the health care bill.

Taylor last week went further than any of his Democratic colleagues in speaking out against the law. He joined dozens of congressional Republicans in calling for a repeal of the package, the first Democrat to do so.

The good news is that slowly but surely, some on the left are starting to see the light.

EVEN CHRIS MATTHEWS -- WHO USED TO GET A TINGLE UP HIS LEG WHENEVER OBAMA SPOKE -- IS NOW CORRECTING THE ANOINTED ONE.

Important Distinction: Giving People Tax Cuts Is NOT Giving People Money; It's ***THEIR*** Money

http://mjperry.blogspot.com/2010/09/giving-people-tax-cuts-is-not-giving.html




The bad news is some are still woefully ignorant. This statement, from someone who I used to admire and respect, shows we still have a long way to go. This kind of ignorant statement makes Republican Senator Jim Bunning look compassionate.

WARREN BUFFET'S RIGHT-HAND MAN SHOWS CONTEMPT FOR THE "LITTLE" PEOPLE WITH HIS STUNNING "LET THEM EAT CAKE" REMARKS.

"SUCK IT IN AND COPE" - SHOWS THAT ARROGANCE AND GREED DO NOT KNOW PARTY BOUNDARIES.

THESE GUYS OPENLY SUPPORTED, CHEERED AND PROFITED FROM THE BAILOUTS, STIMULUS AND FEDERAL RESERVE TINKERING IN THE ECONOMY.

from MISH'S Global Economic Trend Analysis Blog:

http://globaleconomicanalysis.blogspot.com/2010/09/amazing-arrogance-gall-chutzpa-and.html

Amazing Arrogance, Gall, Chutzpa, and Unmitigated Effrontery from Berkshire Hathaway
Posted: 20 Sep 2010 08:07 PM PDT

It's hard to know exactly the precise words to describe the arrogance and unmitigated effrontery of Charles Munger, the billionaire vice chairman of Berkshire Hathaway, who today rattled off an insane barrage of insensitive comments regarding the bailouts.

Charles Munger, the billionaire vice chairman of Berkshire Hathaway Inc., defended the U.S. financial-company rescues of 2008 and told students that people in economic distress should “suck it in and cope.”

Munger's quotes:

Charles Munger, the billionaire vice chairman of Berkshire Hathaway Inc., defended the U.S. financial-company rescues of 2008 and told students that people in economic distress should “suck it in and cope.”

“You should thank God” for bank bailouts, Munger said in a discussion at the University of Michigan on Sept. 14, according to a video posted on the Internet. “Now, if you talk about bailouts for everybody else, there comes a place where if you just start bailing out all the individuals instead of telling them to adapt, the culture dies.”

“Hit the economy with enough misery and enough disruption, destroy the currency, and God knows what happens,” Munger said. “So I think when you have troubles like that you shouldn’t be bitching about a little bailout. You should have been thinking it should have been bigger.”

Germany was unable to stabilize its financial system in the 1920s, and, Munger said, “We ended up with Adolf Hitler.”

“Now, if you talk about bailouts for everybody else, there comes a place where if you just start bailing out all the individuals instead of telling them to adapt, the culture dies.”

So we should all thank God that our government is around to steal money from the middle class, the savers, the people who did things right -- in order to to bail out the wealthy, the profligate spenders and gamblers who bet their own money and lost and now want a subsidy from the rest of us so they can keep playing the game? That money was not manna from heaven, it was money begged, borrowed and stolen from the American taxpayer, you braying jackass.

If there's one thing that the Tea Party movement is all about is that people FINALLY are beginning to recognize what is going on and are not just saying NO, they are saying HELL NO!!!

They are tired of these intellectual snobs in Washington -- don't let the door hit you in the ass on the way out Larry Summers -- telling regular folks that they know better and the voters are too stupid to understand these complex issues they've screwed up.

They are tired of these people spitting in our faces and then trying to convince us it's raining.

What they don't get is the Tea Party is the torch and pitchfork crowd personified, and they are tired of being ignored, not listened to, lied to and stolen from.

FOR FURTHER READING PLEASURE:

From The Daily Bell

US Fed Gains Power, Loses Credibility?
Saturday, September 04, 2010 – by Staff Report

http://www.thedailybell.com/1346/US-Fed-Gains-Power-Loses-Credibility.html

Libertarian Congressman Ron Paul (R-TX) recently asked for an audit of the gold in Fort Knox. The mainstream media pooh-poohs such demands as paranoia. Yet the Fed and its enablers have resisted thorough ongoing scrutiny as well. Instead the institution has received significant additional powers. See the pattern? On the one hand, the Fed resists accountability. On the other, Bernanke et al. present an apologetic front and vow they will do better next time.

This is the kind of crisis control that the power elite practiced in the 20th century; it is today the kind of crisis control being applied to such failed dominant social themes as global warming. But we wonder if it will work in the 21st. In our view, people have already seen too much, know too much and are too upset. When it comes to the law and legislation, Bernanke and Congress may be in the right. But the law can only go so far. Sometimes, such ventures begin to look questionable regardless.

When people know too much, the law itself can begin to seem suspect; and this is how societal upheavals are created. This is in fact an inflection point for the powers-that-be. Creating fear-based promotions in order to generate societal consent for ongoing concentrations of power and wealth – the manufacturing of an authoritarian society in other words – has worked well for the PTB. But when the promotions begin to fail (due to information on the Internet in our view) and the elite continues its programs regardless, then the potential for social tension increases dramatically.

The Mind Conspirators
Saturday, September 04, 2010 – by Nelson Hultberg

http://www.thedailybell.com/1347/Nelson-Hultberg-The-Mind-Conspirators.html

More and more Americans today are coming to understand the terrible truth about our Federal Government -- that it seeks to dominate us as citizens, to mold us into a society of dutiful Stepford Wives totally beholden to the wishes of elite politicians, bureaucrats and bankers. Those who study history, independent of the public school system, understand that this state aggrandizement process has been under way for the past 100 years in America in one form or another, and that it is taking place because too many of our citizens sanction such dictatorial usurpation and actually work diligently for its implementation.

‎"Anyone going to his neighbor's home and taking his money at gunpoint, regardless of all the wonderful, selfless things he promised to do with it, would be promptly arrested as a thief. But for some reason it is considered morally acceptable when government does that very thing." -- Ron Paul, The Revolution: A Manifesto, 2008

The NAACP went looking for Tea Party racism and all we get is a lousy T-shirt?

You can't make this stuff up. If it wasn't such a serious topic this would be comical. But the NAACP comes off looking like the child who cried wolf too many times and wasn't listened to when the wolf actually arrived.

And therein lies the dilemma presented to society by these hate mongers.

Let the record show that since the NAACP has been looking far and wide for racism in the Tea Party and all they have found was one lousy T-shirt?

If we are going to have this much ballyhooed discussion on race that these guys profess to want to have, should we not at least take care to get the facts right?

Good people do not feel the great need to come to the table and be lied about and slandered by others.
That is why there is no conversation.

Story from theblaze.com:
http://www.theblaze.com/stories/factor-showdown-naacp-head-cant-cite-actual-tea-party-racism/

FACTOR SHOWDOWN: NAACP HEAD CAN’T CITE ACTUAL TEA PARTY RACISM

Last night, the NAACP‘s Hilary Shelton appeared on O’Reilly to talk about its new website designed to track tea party racism, and asked that the party repudiate any racism by rally attendees. But the problem, as O’Reilly pointed out, is that the party had already done that. Still, Shelton claimed that racism continues. But when pressed for an example, he admitted “the closest things we’ve seen so far is we saw a t-shirt at one the rallies that said something really problematic.” What did it say? Shelton wouldn’t elaborate.
---------
Perhaps they would do well to remember the following quote and review and learn from history instead of trying to lie about it ot re-write it to fit their narrative and agenda.

THE FALSIFICATION OF HISTORY HAS DONE MORE TO IMPEDE HUMAN DEVELOPMENT THAN ANY ONE THING KNOWN TO MANKIND -- ROUSSEAU

From publiusforum.com:
http://www.publiusforum.com/2010/08/27/hey-walter-fauntroy-the-ku-klux-klan-was-the-terrorist-wing-of-the-democratic-party/#more-15688

Hey, Walter Fauntroy, the Ku Klux Klan was the Terrorist Wing of the Democratic Party

At the National Press Club, Walter Fauntroy falsely accused the Tea Party of having ties to the Ku Klux Klan. In the many years Fauntroy was Delegate for the District of Columbia, he was a member of Congressional Black Caucus, an organization that excludes people on the basis of race. Blind to his hypocrisy, he has falsely accused a political movement open to all races, the Tea Party, of being racist. Speaking at the National Press Club, Fauntroy said: “We are going to take on the barbarism of war, the decadence of racism, and the scourge of poverty, that the Ku Klux — I meant to say the Tea Party… You all forgive me, but I — you have to use them interchangeably.”

Now is the time to speak Truth to Power.

It would have been far more truthful for Mr. Fauntroy, who is a Democrat, to have admitted the fact that the Ku Klux Klan was the terrorist wing of his own political party. Yes, the Ku Klux Klan was established by the Democratic Party. Yes, the Ku Klux Klan murdered thousands of Republicans — African-American and white — in the years following the Civil War. Yes, the Republican Party and a Republican President, Ulysses Grant, destroyed the KKK with their Ku Klux Klan Act of 1871.
How did the Ku Klux Klan re-emerge in the 20th century? For that, the Democratic Party is to blame.

--------

And what is that saying about those who live in glass houses? Maybe we should worry more about racism and xenophobia from Floyd Mayweather and 50 Cent.

From espn.com
http://sports.espn.go.com/sports/boxing/news/story?id=5542975

The racist and homophobic remarks spewed by Floyd Mayweather Jr. in an attack on Manny Pacquiao last week in a self-made Internet video has elicited a strong rebuke from the National Federation of Filipino American Associations.

The NaFFAA, a private, non-profit organization that promotes the active participation of Filipino Americans in civic and national affairs, "strongly condemned" Mayweather for his attack on Pacquiao, an icon in his home country.

"We are outraged by Mayweather's racially offensive remarks," Greg Macabenta, the NaFFAA's national chairman, said in a statement. "This disgusting diatribe against Pacquiao is a racial slur against all Filipinos and Filipino Americans and an embarrassment not only to the boxing community, but to all Americans. Talking trash may be common between boxing rivals, but Mayweather's racially laced profanities brazenly crossed the line of decency and respectability. Pacquiao, on the other hand, has taken the high road and acted like the gentleman that he is."

"At a time when immigrant communities are being viewed with increasing suspicion and mistrust, Mayweather's cruel, abusive and hurtful remarks can only stoke more hostility, derision and resentment against individuals who look foreign by virtue of their looks, their size or the sound of their names. Coming from a boxing celebrity with millions of fans around the world, Mayweather's shameless and reckless conduct unfairly paints an entire racial and ethnic group with a broad brush and seriously undermines America's core values of inclusivity and racial tolerance."

In the video, which has been widely circulated on the Internet, Mayweather repeatedly insulted Pacquiao with racist comments and derided his English-language skills, even though English is his second language.

Mayweather also used a homophobic slur against him, called him a "whore" and repeated his accusation that Pacquiao uses performance-enhancing drugs, even though Mayweather has never produced a shred of evidence.

"As soon as we come off vacation, we're going to cook that little yellow chump," Mayweather said of Pacquiao, whom he has refused to fight after two rounds of failed negotiations.

Among his other comments, Mayweather said, "Once I stomp the midget, I'll make that mother f----- make me a sushi roll and cook me some rice."

At another point in the video, Mayweather said, "We gonna cook that mother f----- with some cats and dogs. ... Rice with [a] little bit of cat, rice with a little bit of barbecued dog."

Mayweather offered a video apology the following day. In that video, Mayweather said of his remarks, "Forgive me for saying what I said. I was just having fun. I didn't really mean it. Nothing in a bad way. So let's stay on this roller coaster ride and keep riding, baby. It's all love."

----------

From the New York Post:

http://www.nypost.com/p/pagesix/furious_gays_fire_back_at_fitty_VU3LVj65ynS9QB1TtlGozN

The Gay & Lesbian Alliance Against Defamation (GLAAD) is mounting a campaign against 50 Cent after the rapper tweeted threatening comments to blogger Perez Hilton last week, including a violent photo of two men in suits running from a mob.
"Perez Hilton calld me douchebag so I had my homie shoot up a gay wedding. wasnt his but still made me feel better," read the tweet with the photo attached.
Fitty also Tweeted Hilton: "stop being so sensitive its a joke. Your acting like a big baby" and, "my next song will make your sweet ass dance lol chill out."


A rep for 50 Cent had no comment. But it wasn't the first time Fitty's run afoul of the gay community. He told Playboy in a 2004 interview, "I ain't into faggots. I don't like gay people around me, because I'm not comfortable with what their thoughts are . . . I'd rather hang out with a straight dude. But women who like women, that's cool."

His recent Twitter posts have also taken aim at unborn children and pregnant women: "I wanna do something that impact kids in a positive way, thats why im opening an abortion clinic. Ima call it 50/50 chance," one of them read.

On Friday, Fitty used nearly a dozen tweets to defend his friend, boxer Floyd Mayweather, who was arrested on charges of theft relating to a domestic-abuse complaint by his former girlfriend Josie Harris, the mother of three of his children.
"Another case of angry baby mama wanting money," he wrote.

There you go, 50 Cent defending Floyd Mayweather, it seems as if idiot birds of a feather flock together. It should be easier for the NAACP to find racism in their own back yard than it will be to find it from with the Tea Party. Now "manufacturing racism", that's another story, But one that it seems like the NAACP is rather good at.

-----------
Maybe the NAACP if they are true to their name and true to their mandate, should look in another direction for both the cause and the cure for some of the major ills facing Black America.


From thegrio.com

http://www.thegrio.com/politics/tea-party-tracker-doesnt-the-naacp-have-better-things-to-do.php

'Tea Party Tracker': Doesn't the NAACP have better things to do?
By Sophia A. Nelson

9:22 AM on 09/02/2010

From the NAACP's official website:
We are satisfied that on August 28 [at Glenn Beck's Restoring Honor Rally], there were few overt signs of racism -- however, we remain committed to holding the Tea Party to their word. Our coalition watchdog website, TeaPartyTracker.org, will serve as evidence of this ongoing vigilance of extremism within the Tea Party movement.

The NAACP has always believed in the promise of America - a promise built on mutual respect, common civility, and hope for a better tomorrow. Together, we will continue to do our part to ensure that the Tea Party reflects these values as well.

Here we go again. I had hoped that the NAACP might have learned a valuable lesson from the events of this past summer (i.e., Shirley Sherrod, its first scuffle with the Tea Party and anti-racism Resolutions, etc.) but apparently not.

Let me be crystal clear about what I am going to write next so that there is no misunderstanding -- you ready -- buckle up: Racism is not the biggest problem facing black America. Period. Black America is the biggest problem facing black America. That's right I said it. It's time we had some real grown-up talk and stop using race as an excuse for all that ails us when looking inward would serve our community a whole lot better.

Of course racism exists in America. How could it not? Our very founding and institutions were built on racist principles (that ought to go over well with my conservative friends). Slavery was legally sanctioned in America until 1863. Jim Crow - or racial segregation - was legally sanctioned in 1896 with the Plessey v. Ferguson decision and stayed the law of the land until the Brown v. Board decision in 1954. Yes, yes, yes racism is real and its vestiges are still with us, but racism is not the biggest threat to what is wrong in black America and the NAACPknows this better than most.

Let me just give you a snapshot of what you already know but may have forgotten in the busyness of your own lives: Fact - black male unemployment in this current recession has been at Great Depression levels in many American cities. The out of wedlock birth rate for black children is well over 65 percent approaching 70 percent according to most statistics.

As noted black historian Dr. Lerone Bennett. wrote recently, "A black child had a better chance of growing up with both of his parents in slavery than he does now." The black marriage rate has declined dramatically since the 1970s. The black divorce rate has soared in the past two decades. Black on black crime and violence in the past two decades in cities like Detroit, Chicago, Camden, St. Louis, Oakland, Cleveland, Birmingham, etc. has caused more death and destruction in our communities than all of the lynchings of black people (that we know of) that took place in the Jim Crow South. And I simply do not have space here to talk about the black male incarceration rates, the AIDS crisis and black women, drug use, domestic violence, sexual abuse, and everything else that is seemingly plaguing the black community at large in alarming rates.

Now hear me out before you lose oxygen and go all weak at the knees out there -- my fellow black Americans we have got to put a stop to this game that is being played on us every single election cycle without fail. I don't care if you are Democrat, Republican, or Independent. We deserve better and should demand it. Every two years and every four years we can count on the same old garbage being dumped on us: The Republicans are racist, watch out for the bogeyman, watch out for the Tea Party, watch out for white folks. I mean come on folks--really?

Why is it that the "race" card is always trotted out in election season, and why is it always trotted out on us? We are treated as if somehow education, higher taxes, crime, national security, and a better quality of life don't matter to us, when no community out there needs more action and help in this area than does the black community.

Here is my point: the NAACP has fresh young leadership in Ben Jealous and Roslyn Brock. Both are exceptionally bright and energetic. But authorizing Tea Party tracking sites that monitor allegedly racist behavior is simply stunning to me.

What does that have to do with fixing what is broken in black America? In the final analysis, I would rather see theNAACP's wisdom and energy spent focusing on policing "us" and our own community so that we can redefine a better, healthier, more prosperous destiny for the next generation to come. When the NAACP gets back to its core mission and values, I will renew my membership and support it wholeheartedly!