Thursday, May 28, 2009

Tuesdays' Economy and Other News

Actually, let's go to the "other news" first. It's funnier that way.

Biden Bombs Barack: Potentially Explosive Joke is a Dud.

We all like to take potshots from time to time at other peoples expense. There are jokes for Lawyers, Mortgage Bankers, Accountants and Plumbers. But what if your target is both your boss and the President of the United States?

Vice-President Joe Biden was delivering the commencement address at the US Air Force Academy in Colorado when a gust of wind blew his teleprompter down. Not one to miss an opportunity to redirect a potential negative Biden quipped, "What am I gonna tell the president? I'm gonna tell him his teleprompter is broken. What will he do then?"

The Cadets laughed and apparently cheered the joke. Mr. Obama is known for great oratory and sticking like glue to the script supplied by "Teleprompter One". Hopefully the man holding the office of President will not attempt to command detonate Mr.Bidens sense of humor. And hopefully the men-in-black were not taking names of which Cadets laughed and cheered.

Moore on Moore: Woman Who Attempted to Shoot President Ford Free on Parole.

More (pun intended) after the Jump

Sara Jane Moore, the failed assassin of Gerald Ford in 1975, has been set free on parole. In an interview she has said that "it was wrong". Well duh sweetheart. If you had thought of that in '75 you would not have spent birthdays from 46 to 77 (or is it 80)in the slammer. A realist could have told you that assassinations of heads of state rarely solve what you see as the problem. Check out her interview here.

GM Likely to be Bankrupt on Monday: No Loans, No Credit, No Firm Deal (Yet)

General Motors is being touted as too big to fail. Unlike the little guys (that's us folks) or Small Business, the .gov is moving heaven and earth to get bondholders to accept valuable assets and stock. We can look forward to the fed likely owning 70% of the auto giant and allegedly intending to take it public again in 12-18 months.

If this were you and I, we'd already be facing foreclosure or debt consolidation loans. The problem is that no one is going to want to extend credit to anyone. Common sense tells us that if the .gov were backing consolidation loans or refinance offers to taxpayers there would be public outrage.

Now since the .gov is heavily into borrowing itself, regulating credit card company policies, and considering allowing Congress to be the bank regulator: We are going to be in a fine mess. But there's nothing to worry about. The stimulus package is going great, just ask the cops in Ohio.

Here is the real deal from a realist. Credit is going to be harder for us as individuals to get. Credit is going to be harder for us as a nation to get. Interest rates are going to rise as secured bond holders worry about Presidential Intervention on the Corporate Debtors behalf.

Don't expect Mr. Obama to forgive your student loan debt. Instead watch out as our individual tax debt increases to pay for the economic insanity.

Foreclosure on the Governator: CA Hoping for Federal Bailout.

GM isn't the only victim of gross financial mismanagement and crushing debt. California (the State) is as well. According to the Governator they have about four weeks worth of cash left. Essentially as CA attempts to raise revenues, they want the Fed to back up their loans. When or if the fed does just that, will China be our lender?

The Bottom Line:

With the fed in control of banking, poised to take over the auto industry, and possibly co-signing for a so-called sovereign state how can anyone say we are not moving toward a socialist society?

Your freedom to succeed is being eroded via three great motivators.

The first motivator is "being taken care of" by your [insert authority figure here]. Too many people are all to happy to turn over their problems to the government looking for an easy solution. The problem is that when the government fixed it for you, the freedom to make those decisions went away for everyone else as well. Freedom, Independence, and Liberty are entwined. Hurting one hurts them all.

The second motivator is the fear of success. In today's America if you succeed you will be penalized. Your tax debt will go up. You will be demonized by special interest groups. Why should we strive to create a successful life experience only to be punished for it unless nominated to the supreme court.

The final motivator is that you really are in this by yourself. Realistically you cannot fight city hall unless you form a team. So long as the government keeps you isolated in dependence on them you cannot organize. So long as American philosophy, history, and government are not taught at school you don't even know the extent of the damage.

Technorati Tags: , , , , , , , ,

No comments:

Post a Comment