Tag Archives: economy

Help Me Out Here On Obama’s Second Press Conference?

Clearly everything Geithner’s bailout programs are doing is intended to “fix the credit markets,” which is to increase lending/borrowing to businesses and consumers. Geithner/Obama’s programs are to increase mortgage lending, and consumer and small business borrowing. There are special programs to increase lending for new cars, and to securitize credit card receivables so that consumers can spend on new cars and every kind of credit card borrowing.

At the same time these programs create  trillions of government debt, truly massive debt, but that is OK because the purpose is to make credit more available. Doesn’t that boil down to getting businesses, consumers and the government deeper into debt?

Help me out here. Isn’t excessive borrowing and excessive debt what got us into this mess?

Is increasing consumer and business debt the way to cure the problem of excessive consumer, business and government borrowing? What am I missing?

Here is text from Obama’s second press conference, cut and pasted exactly, courtesy of Associated Press:

At the end of the day, the best way to bring our deficit down in the long run is not with a budget that continues the very same policies that have led us to a narrow prosperity and massive debt. It’s with a budget that leads to broad economic growth by moving from an era of borrow and spend to one where we save and invest.” BH Obama March 24, 2009.

Well, clearly all the government programs contradict the words of our President about “moving from an era of borrow and spend…”

Let us examine the last part where Obama says: “to one where we save and invest.”

Exactly how does Obama stimulate saving and investing? The interest that savers can earn from the banks or from investing in Treasury securities range from one quarter of one percent to two percent, the lowest in my lifetime. How does Obama encourage people to save when he artificially forces the return on savings down to nothing?  I feel like I am being punished for saving.

My interest income has been destroyed.

But Obama wants to raise my taxes on income from savings and investments. How is increasing taxes on income, and on capital gains from savings and investing going to increase savings and investing?

Then the hypocrite will take the tax fruits from punishing savings and investing, and give it to people who borrowed and spent. Isn’t that rewarding “borrow and spend” while punishing, disincentivizing “where we save and invest?”

Help me out here. How are Obama’s lying, false words “by moving from an era of borrow and spend to one where we save and invest” not an even meaner, more cruel  joke than “Change you can believe in?”

We must decide whether Obama truly has no idea about what he is reading from the teleprompter and is merely another brainless idiot President, even dumber than the one he replaced, or whether he is bipolar and his evil side wants to destroy America. Because that is exactly what his policies are doing.

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!

Nancy Pelosi Actually Most Corrupt Member of Congress

Monster Pelosi abuses lowest paid workers for her personal wealth!! Monster Pelosi forces down pay of poorest people to increase her stock profits.

 

 

CORRUPTION!
    
Speaker of the House, Nancy Pelosi’s home district includes San  Francisco .
          
Star-Kist Tuna’s headquarters are in San Francisco,  Pelosi’s home district.
            
Star-Kist is owned by Del Monte Foods and is a major contributor to Pelosi.
           
Star-Kist  is the major employer in American Samoa  employing 75% of the Samoan work force.
 
Paul Pelosi, Nancy’s husband, owns $17 million  dollars of Star-Kist stock.  
           
In  January, 2007 when the minimum wage was  increased from $5.15 to $7.25, Pelosi had  American Samoa exempted from the increase so Del Monte would not have to pay the higher wage. This would make Del Monte p roducts less  expensive than their competition’s.
 Last  week when the huge bailout bill was passed, Pelosi added an earmark to the final bill  adding $33 million dollars for  an ‘economic development credit in  American Samoa ‘.

 Pelosi  has called the Bush Administration “CORRUPT” ? ?
How  do you spell “HYPOCRISY” ?

EVERY  PERSON IN THE WORLD SHOULD GET THIS FORWARDED

 Why do we not get media coverage of stories like this? 

           “SNOPES”  VALIDATES     

Please forward links to this so Pelosi is exposed for the monster she is

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.

meghan mccain attacks ann coulter as offensive?

Meghan Mccain is the kind of blond they made all the jokes about, and Ann Coulter is the blond with brains, so the stupid ditzy blond attacks the smart one?

And CNN (Bias?) gives publicity to the brainless blond? Why not?

Is there a pattern here? CNN worships Brainless Barry!

CNN loves Brainless “ANYBODY”

BRAINLESS LOVES BRAINLESS!

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!

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.