Tag Archives: bailout

Ten Obama Dollars for a Gallon of Gas

France is a socialist nation, but even they are complaining that Barack Obama is spending way too much in his insanely bloated stimulus package combined with his budget.

Even Communist Russia and Communist China are not fooled by Obama’s use of the word “investing” to misrepresent his “spending” to pay off all the interest groups of the Democratic Party Machinery that got him elected.

All the major nations of the world are uniting to demand a new currency to replace the Obama Dollar that everyone with half a brain realizes is about to become inflated and lose value dramatically.

The oil producing nations, led by Russia and Saudi Arabia, and yes, Hugo Chavez, do not want to accept Ten Worthless Obama Dollars for a gallon of their gas.

We had no idea that “Change you can believe in” meant that our currency was about to become an international joke because our welfare baby President was about to spend money as though he never had to work for a dollar in his life.

Oh! Come to think of it, he never did!

Bank Of America Newest Awsome, Incredible Fraud on TARP and Investors

Bank of America  Chief Executive Officer Kenneth Lewis just forecast an absurd, totally unbelievable profit of $50 billion for this year on revenue of over $100 billion, a 50 percent profit margin. No legitimate bank in history ever had a 50 percent profit margin!

Under Chief Executive Officer Kenneth Lewis, Bank America  took $163 billion from the federal rescue program, and was widely expected to be taken over and totally nationalized because of bad assets. “Bad Assets” means that management had no idea what it was doing with shareholders’ and depositors’ money; i.e., bad management, failed management, management that should be replaced, invested in more than $163 billion of worthless assets, the losses on which had to be covered by the taxpayers..

CEO Ken Lewis also bought Merrill Lynch and failed to foresee that Merrill had tens of billions MORE of bad assets  than it told Bank America about during negotiations. Then a few months after being acquired by Ken Lewis’ Bank, Merrill suddenly discovered another billion or so of losses in its London office.

Ken Lewis appears to be guilty of, select one or more of the following:

1.   Not having the foggiest idea of what is going on inside his bank;

2.  Not knowing what the condition of Merrill Lynch was when he was dumb enough to buy Merrill, let alone overpaid for Merrill;

3. Defrauding the government out of $163 billion to save a troubled bank when it actually had the highest profit margin in the history of all banks anywhere in the world, anytime;

4. Lewis presided over a gigantic phoney, criminal write down of assets last year, and then reversed the write down this year to save his job by falsely claiming his grand intelligent management saved the bank;

5.  Bank America is run by escapees from the lunatic asylum, or by Barney Frank, or by Chris Dodd, and has no connection to reality whatsoever, just like Obama’s stimulus plan, and just makes up numbers for press releases depending on how much coffee the good ol’ boys drank that morning;

6. No one in finance or the government has any idea what the truth is about any big bank, so it is acceptable for a bank to say it needs $163 billion of taxpayer money, and the 90 days later accidentally notices that it made $50 billion profit;

7. In an industry that normally has a 3 to 5 percent profit margin, incompetent management can make a 50 percent profit margin, and nobody smells a “Madoff?”

With events like this continuuing, it is insane to believe any reported financials, which means there is no way to decide which stocks to buy or sell. In the land of the blind, the one eyed person is king. This one eyed person sees nothing but piles of deaf, dumb and blind retards pretending to be corporate boards of directors, and will not own any stock or bond for a long time.

We Have Not Been This Oversold Since Tomorrow

Yesterday March 6, 2009, a NYSE Floor Broker with 30 years trading expertise was asked his opinion on the market prospects.

His comment was heard around the world within 90 seconds because it summed our prospects so clearly.

Or as Obama might say “boldly.”

The guys who knew say tomorrow will be worse, Obama says buy now. Stocks dropped a lot since Obama said to buy.

Don’t you just hope all those morons who bought his “Change” BS also bought stocks when the Messiah said to buy?

Of course his supporters would have to use Food Stamps to buy stocks.

Is Obama Mortgage Plan Unfair To Welfare Leeches In Free Public Housing?

Obama should give all the foreclosed mortgage homes to his supporters living in free public housing. Most people who are being foreclosed have jobs and pay some taxes, so it is not consistent with Obama’s public policy to help them.

In contrast, most people in free public housing or on Section 8 Housing Payments do not have jobs and do not pay taxes, so they deserve to get free houses. Obama could soak up the supply of foreclosed homes by giving them free of any mortgage to the welfare leeches like his mother, and like his illegal alien aunt living in free public housing in Boston.

Obama should also buy the unsold inventory of the home builders and give it to Section 8 Housing Payment leeches in exchange for their Section 8 payments.

And Obama must stop being so selfish. The White House has all those empty, underused rooms that should be used to help the homeless.

And finally, do not forget Nancy Goldfarb’s plan for free passes to bordellos to bailout the sex industry.

Nancy Pelosi and Harry Reid could attach a rider to the free bordello passes requiring all bordellos to force the workers to join a union.

Hey, we could even require anyone who cashes in the free bordello pass to join a union.

That way whenever Obama gets you screwed, you get screwed forever on the job.

Stocks Went Up A Little After Obama Said Buy Stocks But

the increase is what professional investors call a “fool’s rally” and a “bull trap.” The market is still in a downtrend. The most dangerous time to buy is in the “fool’s rallies” that happen repeatedly during a long term bear market.

Warren Buffet, who knows a bit more about stocks than our food stamp president, told us to buy stocks just before the market went down 3,000 points to where we are today, and Buffet like Obama is saying to buy now.

You heard it here: this is time to sell an stocks you have left, dump them and dump Obama.

Obama thinks passing a bill with $8 billion of earmarks is the way to revive the market!

Duh! Is this the same lying welfare leech who promised us no more earmarks?

Liar, liar, market killer!

Barack Obama Says Buy Stocks Now

After meeting with the new beggar to join “The New World Order” from the United Kingdom, Prime Minister Gordan Brown, our Food Stamp President said that it might be a good idea to buy stocks now!

Ladies and gentlemen! You have just heard the greatest sell signal in history.

When the welfare babies start telling us to buy stocks, it is time to sell any stock you have left.

The S&P 500 Index has broken through its support level of 700.

The next support level is 600 on the .spx.

If you have any stocks left, sell them right now,

BS Obama’s Newest Tax Will Hit All People, Not Just Over $250,000

Even if you never paid income tax in your life, you will pay a lot of taxes under Obama’s newest tax  proposal. Barack Obama’s carbon tax on businesses will be a tax on every person in America, not just rich people. 

Every business will pay a lot of money, a fortune, a big fortune just to calculate how much carbon they use.

Then almost every business except windmills and buggy whips will have to pay the carbon tax. Businesses only do one thing with a tax, any tax, every tax.

Business adds the tax onto the prices you and I pay.

So every welfare recipient, food stampers, Aid to Dependent Children recipient, drug addicts and alcoholics getting their $1,000 a month on disability SSI (if you are an addict, nbody expects you to work!) will all pay higher prices for everything they buy.

Hey!

I like this tax!

Lets get rid of the income tax and replace it with the carbon tax, so all the deadbeats will pay their share.

Oh, and let us not forget the cow fart tax!

And free bordellos for those impaired by Medicare paid Viagra.

Congrats, BS Obama, you did something right (by accident).

Emperor Nero (Obama) Keeps Fiddling As Rome Burns

Obama cannot understand that the stock market is the most intelligent evaluator that the world has ever seen, and it does not like what Obama is saying.

Obama keeps rolling out more and more expenditures, $275 billion for mortgages, $787 billion for a stimulus plan, $441 billion extra spending beyond Bush dumb budget. Golly gee, that is more than $1,500 billion in two weeks?

Plus trillions more to buy mortgages from Fannie Mae since no one else will buy worthless crap any more. Gee, why should we taxpayers? Just get rid of Fannie Mae, since she started this whole mess.

Plus trillions more into failed banks that just cannot stop failing over and over again.

The results of Obama’s Spendomania Orgy? January was the worst January in the history of America for the stock market.

So Obama announced more spending but tried to disguise it by saying he would cut the deficit in half in four years, but first he had to increase it to the most ridiculous number ever seen. The result?

February was the worst February in the history of America for the stock market.

The size of the deficit after he cuts it in half (assuming that he will, which defies credulity) the remaing deficit will be by far the largest deficit we have ever seen (before Obama, of course). To set that large a “reduced” deficit as acceptable is not reasonable. To set it as our goal is so ridiculous that words fail me.

Cumulatively, the Dow Jones and Standard & Poor’s indexes have all broken below their previous lows, signaling that the worst January in history, and the worst February in history, are only a harbinger of things to come.

These are the worst stock index charts in history. Let me repeat this in terms even a food stamp baby can understand:

THE CURRENT STOCK MARKET DECLINES FOR JANUARY AND FEBRUARY, COMBINED WITH THE DECLINES SINCE THE POLLS SAID A TAX RAISING SOCIALIST WAS ABOUT TO BECOME PRESIDENT, ARE FAR WORSE THAN ANY TWO MONTHS OF CHARTS IN THE GREAT DEPRESSION!!!

The market has just told us that Obama’s plans will fail to save us from a new Great Depression.

Sell ALL your stocks and real estate today, even at these low prices, and put all the money in insured bank deposits and T-Bills.

The worst part is Obama continues to mesmerize the media and the press and the youth, so he will get what he wants, and all value will be destroyed. Our financial future is lost.

Pork, Stimulus or just BS Obama?

Dear Food Stamp President: Is your brain able to recall your promise about no more earmarks, or better yet, YOUR PROMISE TO VETO ANY BILL CONTAINING EARMARKS???

Everybody try to see if BS Obama keeps his promise and vetos the new spending bill that contains these kosher, non-pork, non-earmark items:

$185,000 for coral reef research and preservation in Maui County, Hawaii

$55,000 in meteorological equipment for Pierce College in Woodland Hills, Calif.

$9.9 million for science enhancement at historically black colleges in South Carolina.

In addition to the basic operations of government, the new budget includes 775 pages of earmarks, funding programs that include local museums, colleges and infrastructure projects.

Among the earmarked projects in the bill are $764,000 for the Lake George Watershed Protection Initiative in New York, requested by Sen. Kirsten Gillibrand, New York
Democrat;

$9.9 million for South Carolina’s historically black colleges and universities, requested by House Majority Whip James E. Clyburn, South Carolina Democrat;

$1.1 million requested by Senate Republican Conference Chairman Lamar Alexander and Sen. Bob Corker, both of Tennessee, for water treatment plant improvements in Tennessee’s Unicoi County, as well as $300,000 for a sewer extension project in another county.

Examples of Earmarks in the Omnibus

$713,625 Woody Biomass at SUNY-ESF. Walsh and Schumer sponsors

$951,500 Sustainable Las Vegas. Berkeley and Reid sponsors.

$24,000 A+ for Abstinence. Specter is sponsor.

$300,000 Montana World Trade Center. Rehberg sponsor.

$950,000 Myrtle Beach International Trade and Convention Center. Graham sponsor.

$200,000 Oil Region Alliance. Peterson sponsor.

$190,000 Buffalo Bill Historical Center, Cody, WY for digitizing and editing the Cody collection. Barbara Cubin is the sponsor

$143,000 Las Vegas Natural History Museum, Las Vegas, NV, to expand natural history education programs. Sponsored by Harry Reid

$238,000 for the Polynesian Voyaging Society, Honolulu, HI, for educational programs. Sen. Daniel Inouye is the sponsor.

$381,000 for Jazz at Lincoln Center, New York, NY for music education programs. Jerrold Nadler is the sponsor.

Rep. Jerry Lewis of California, the top Republican on the House Appropriations Committee, would spend $3.8 million on a Needles, Calif., highway.

Sen. Thad Cochran of Mississippi, the top Republican on Senate Appropriations, backs earmarks including a $950,000 nature education center in Moss Point, Miss. He defends earmarks.

Barack Obama Promised No Pork But Will Sign for $7.7 Billion of Pork in Thousands of Earmarks

The federal deficit is projected to widen this year to more than $1.3 trillion, the biggest shortfall since World War II. Two days ago, Obama convened a budget summit where he pledged to cut the deficit in half by the end of his first term.

He forgot to say that most of the decrease came from letting Bush’s tax cuts expire, and from getting out of Iraq, which Bush had already approved.

During his first address to a joint session of Congress last night, Obama said he was proud that the $787 billion economic stimulus plan was enacted “free of earmarks.”

“My administration has also begun to go line by line through the federal budget in order to eliminate wasteful and ineffective programs,” the president said.

The pet projects remain popular with lawmakers on both sides of the aisle.

“Congressionally mandated spending is part of our job — that’s what we do,” Senate Majority Leader Harry Reid, a Nevada Democrat, told reporters yesterday. “We shouldn’t depend on bureaucrats downtown to take care of our individual states.”

According to Bloomberg, the most respectedly accurate news source, the U.S. House plans today to approve a $410 billion spending bill providing $7.7 billion for more than 8,500 special projects, according to Taxpayers for Common Sense, a Washington- based group that tracks earmarks.

Wait? Didn’t our food stamp President just pass $787 billion in spending?

Now the Dems want another $410 billion awash with earmarks and pork?

No wonder the stock market continues to crash. We should all be buying gold, or drugs, or AK-47s for the coming revolution.