Dying of Debt

My country is dying. It is so sad. I think about it all the time.

It has been dying from a very slow, cancerous growth for a long time now. A man-made, self-made cancer. A suicidal cancer.

This growing tumor has a name . . . it is called Debt. From the people to the Government, everyone is loaded with debt. It weighs on our shoulders and it weighs down the economy.

In the past 2 years, Debt has grown so big that it must now be removed. It must be cut out completely before the whole thing dies a horrible, violent death.

Let's cut it out.

Sput-Sput-Sputnik?

Last night Obama's teleprompter told to him say: "This is our generation's Sputnik moment."

What?

I think he was expecting a nice round of applause just then. I think his writers thought this would be a rallying cry, a new catchphrase, a sound byte.

I don't think so.

This is our generation's Sputnik moment?

I guess they didn't have time to focus group this line.

The big mistake was referencing a Soviet Russian achievement. That never sits well with most Americans. Who wants to be reminded of that? Why not reference something uniquely American to make the same point?

They can't because they really don't know much about America.

Sputnik? It reminds me of the word "sputter". Using Obama's analogy of a car heading over a cliff, our economic engine is sputtering while Mr. Obama refuses to merely fill the tank and charge the battery. Instead, he has a Blue Ribbon Comittee of auto mechanics, academics and politicians studying the problem while he puts the pedal to the metal and floods the engine - with more debt.

So here's to our Sputnik moment, as our economy goes sput-sput-sputterin' along.

Wikileaks

     As an ordinary American citizen I am really quite happy that Wikileaks has published all of the recent State Department cables. In fact, I am very happy that  Wikileaks does what it does and I hope it continues to do so for a very long time.
     Some of you may say, " Mother dear, how can you support Wikileaks? They are endangering our men and women fighting overseas.  They are causing damage to US credibility. Julian Assange is a terrorist and should be shot, etc., etc.,, ad nauseum."
     I will answer.  Julian Assange and Wikileaks are not terrorists, they are not whatever you say they are.  As far as I am concerned they are doing the American people and the world a huge service. As an American citizen I want to know what my government is REALLY doing. I'm really sick of this covert B.S. in the name of National Security. To put it bluntly I don't trust them and they need to be exposed. We need to expose all the nonsense perpetrated in the name of the American people and with our tax dollars. I don't know about the rest of you but I like to know what I'm paying for. And from what I have been seeing over the last 20 + years, I think the American taxpayer has been getting the $*!+ end of the stick.
     There was a time in this country when our press had the balls to publish the Pentagon Papers and the revelations of Deep Throat. But those days are just a memory. The US press has become nothing more than a lapdog of Washington DC.
     So into this vacuum, this void in investigative journalism, Wikileaks has, thankfully, appeared.

No Inflation?

The Federal Reserve Banksters tell us inflation is so low they are not worried about it, deflation is the problem.  It would be a catastrophe if real prices actually decreased and made life a little more affordable for the regular Joe and Jane. As a regular Jane, I can tell you that decreasing prices would be a good thing, how's that for common sense? But we are bombarded with the propaganda that deflation is evil, we are most likely experiencing "disinflation", and there is no inflation problem.

This regular Jane has a family to feed and I can tell you that inflation is here and it  is a problem.  How do I know that without having an economics degree from Harvard, Princeton or Yale?  I know it the same way every other American knows it, because it's right there in front of our eyes.  The prices may be relatively stable but the amount of food is decreasing. Cans of Campbell's soup are skinnier, Chips Ahoy cookies and Hershey bars are as flat as pancakes now, cereal boxes are narrower.   An eight ounce can of tuna is now 6.5 ounces. Coffee drinkers know this trick, a can of coffee which was always 1 lb. has been decreasing over the years so now there is only 10 to 13 ounces of coffee in a can that gets skinnier and skinnier. I could go on and on but, you get the point.

Mr. Obama, Mr. Bernanke, and  Mr. Geithner, et.al., lie to us with impunity.  So smug, they are sure they will get away with it because we are merely the stupid, uneducated, indoctrinated masses.

Well, guess what? 

We're not and they can't.

Stupid Is As Stupid Does

I've got to hand it to these ivy league brainiacs...they sure know how to destroy stuff. The economy, the financial system, the government and the lives of the great unwashed. At the same time, they tell us they care about all of these things but they really don't. They lie. They lie to us and, I'm sure, some of them lie to themselves (and their families and friends).  They are so smart and well educated, well spoken, and well heeled, too. And they live in their incubator world. They are spectators of our world as we are to theirs.
I think that their world is very comfortable, since they really don't need to work very hard. Do you think they know  the meaning of  "working your fingers to the bone"?  I doubt it.  Do they tie their own shoelaces? I wonder.
So here we have a bunch of wimps, sitting in their "ivory towers" dictating to us. I think it would be very easy to give them the ass-kicking these snot-nosed twirps deserve.
But I digress...Now these geniuses are going to put out an IPO for GM at a 20% discount. As reported by Reuters:

The U.S. government is likely to take a loss on General Motors Co [GM.UL] in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said.


Subsequent offerings of the government's holdings may be profitable depending on how investors trade the newly listed stock, the sources said.


But the question of whether taxpayers are ultimately made whole on GM's $50 billion bailout could be left open for years, the people said.

So they are walking into this thing taking a loss and then they are hoping future suckers..er..investors will pay a higher price. And they still don't know if taxpayers will recoup their "investment". In order to do that they are going to spew the propaganda.

GM plans to begin a roadshow for its IPO immediately after the Nov. 2 U.S. midterm congressional elections, paving the way for a stock debut on Nov. 18, sources have said.

[snip]

"You have to sell people on the notion that there is an upside to what they are buying," one of the sources said.

[snip]

In its pitch to potential investors, GM will tout its global reach, recent gains in quality and pricing in its home market, and its sharply lower cost of operations after its 2009 bankruptcy, sources have said.

Some other guys from other ivy league schools crunched the numbers and after working diligently, I'm sure, they came up with this "projection":

Analysts and potential investors have projected a market value for GM of between $50 billion to around $90 billion, based on projections for the automaker's cash flow, comparisons with rival Ford Motor Co (F.N) and trading in bonds in the old GM which are convertible into shares in the new company.
A market value at the high end of that range would be above the roughly $70 billion in market capitalization that GM needs to achieve for the U.S. government to break even on its $43 billion remaining investment in the automaker.

That's a very optimistic outlook, however, there is reality:

But GM will have to address investor concern that growth in industry car sales in the U.S. in the second half of 2010 and into 2011 will likely be slower than analysts had expected just a few months ago.

If people have no jobs then they have no money. If people have no money then they can't buy cars. Der...it doesn't take a rocket scientist....

Then, buried at the bottom of the article, there is this gem:

At the same time, GM will have to confront a pension shortfall that remains a liability from its pre-bankruptcy operations.


GM eliminated about $40 billion in unsecured debt and other obligations in bankruptcy, but the automaker still needs to address a pension shortfall estimated at about $26 billion.

So it's true, the GM bailout was always about saving the union's pensions.

Maybe I'll buy some shares in Ford.

We Are The Ones

"We are the ones that we've been waiting for" - Barack Hussein Obama


You and I.

We are the ones.

We are the ones who:

have always played by the rules

have always done the right thing.

have this sinking feeling that our children are going to suffer.

have been ignored by our elected representatives in the government.

have been lied to by the media and our elected representatives in the government.

pay the taxes to support this behemoth.

are being kicked around now.

see the death of our beloved country.

must remember who we are.

must save ourselves.

Look in the mirror. Look around. Stand up. Act.

WE are the ones that we have been waiting  for.


.

Leaked Memo - White House Land Grab

Senator Jim DeMint wrote a very scary Op-Ed piece which appeared in the Washington Times on March 2. According to the good Senator the White House has sent out a secret memo listing 14 properties that "might be good candidates" for confiscation by  President Obama through the use of the Antiquities Act.
De Mint wrote:

A secret administration memo has surfaced revealing plans for the federal government to seize more than 10 million acres from Montana to New Mexico, halting job- creating activities like ranching, forestry, mining and energy development. Worse, this land grab would dry up tax revenue that's essential for funding schools, firehouses and community centers.

Why would the administration lock up these energy and resource rich properties, which could be of great benefit to our economy, at this point in time?  Could it be Obama is hell bent on crippling us and totally destroying the country?  Could it be he really cares more about those poor little animals than us humans? Is he just stupid?  Is it all of the above?

Although all of the above are certainly plausible I believe there is another, more sinister, motive for this -especially because it comes now in the midst of this depression. Our government is going to need to pay  China and all of our creditors with these resources as soon as they hand us the bill.  Plain and simple. We have nothing else to give them because they have plundered the entire wealth of this nation.

Our corrupt politicians in Washington know that the bill, although long overdue, is going to be presented very soon.  They have seen the handwriting on the wall and it is not written in English, it is written in Chinese calligraphy and it reads, "We do not want your worthless paper money anymore."