Sunday, 15 March 2009
Economic Report.......from Rico
Team Obama, sadly, are NOT quitters. By the time they are done you'll wish they were.
If you want to be frightened, the 2010 budget document is on the OMB website.
- The GOOD part: The Fresh Prez of Bill Ayers budget basically aims to solve every problem that mankind has experienced since the dawn of time.
- The BAD part: It costs a LOT of money to solve mankind's problems.
- The REALLY BAD part: We don't have that much money. Not even close.
While the Red Shed (formerly the Whitehouse) talks about DEFICIT REDUCTION as if there were some sort of 'savings' involved, if you understand that deficits are being reduced by increasing TAXES and not by reducing spending you will not be impressed.
According to the budget document:
Gross Federal Deficit 2008 = $9.986 trillion (actual); increasing in 2009 to $12.704 trillion (est.); by 2013 $16.198 trillion (est).
In one budget year ObaMarx increases our national debt by 27%, and over four years by 62% (although I expect the real numbers will far exceed the estimated numbers, and Congress may throw MORE TAX INCREASES at the taxpayers as a result). I can understand China's 'concern' over holding so much US debt!
- And paraphrasing the old saw that "the whippings will continue until morale improves" I do not expect that Harry Pelosi, Nancy Reid & DemSoc will be able to resist even more '$timulu$' for the government (just not for the economy)!
So Bush was terrible with money and ran big deficits. This does not let DemSoc and ObaMarx off the hook for adding 27% to the national debt in a single year!
While Team Obama effectively killed the bull of Wallstreet, they seem to have a basic competence problem...AT LEAST THEY ARE NOT QUITTERS!!!!
Looking forward to the future:
- My grandkids are going to have to pay the bill when it comes due. I wonder if they'll have to use Chinese Yuan to do it?
WTF of the Day....
Why are our state-owned banks asking customers about their politicial affiliations? No doubt Labour voters will have their debts 'written off' or eased and the Tory voters will have to pay higher interest rates and have their homes repossessed.
H/T Nebraska Bob
also.....
FDR's policies prolonged Depression by 7 years, UCLA economists calculate.
H/T Shelly
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Starting today.....
ISPs forced to retain user data. More surveillance from the unelected and unwashed in Brussels. I don't see the government trying to protect our privacy.
H/T DML
Lobster Special.....
A seafood restaurant had a sign in the window that read, "Big Lobster Tales, $5 each."
Amazed at the great value, a man stopped in and asked the waitress, "Five dollars each for lobster tails. Is that correct"?
"Yes," she said. "It's our special just for today."
"Well," he said, "They must be little lobster tails."
"No," she replied, "It's the really big lobster."
"Big red lobster tails, $5 each"? he said, amazed. "They must be old lobster tails!"
"No, they're definitely today's."
"Today's big red lobster tails, $5 each"? he repeated, astounded.
"Yes," she insisted.
"Well, here's my five dollars," he said. "I'll take one."
She took the money and led him to a table where she invited him to sit down. She then sat down next to him, put her hand on his shoulder, leaned over close to him and said,
"Once upon a time, there was a really big, red lobster..."
H/T DML
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The Sunday Best....
I don't speak Glaswegian: Labour chief in racism row after 'Can you translate that' remark to Scottish activist. Oh dear.
Minister beaten after clashing with Muslims on his TV show. WTF!!
Pictured: The £75m lightning conductor that is testing the Eurofighter's mettle. Cool.
What do we expect if we treat our own nation with such contempt? by Peter Hitchens.
PATRICK MERCER MP: I've met one of the men said to be behind the Ulster killings. He was a psychopath then - and he still is today.
Government's top doctor recommends price hike for alcohol. This is bull. Brown needs excuses to raise taxes to cover his disastrous spending and this gives him the ammo he needs.
Osama bin Laden attacks 'crooked' Arab leaders. He is still alive!!!
Barack Obama fuels gun buying boom with pledge to tighten laws. We need our handgun ban abolished.
Tories urge deportation review of ex-Guantánamo detainee. He should never been allowed back into the country.
Russian president Dmitry Medvedev poised to replace officials loyal to Vladimir Putin. I wonder if Putin will have him 'replaced'.
Taliban threatens Pakistani singers and actors with death. Pakistan is heading towards becoming a Taleban state.
Barack Obama told: help Pakistan or risk a repeat of 9/11 in America or Britain. Not sure he will do anything about it.
Luton's Muslim extremists defy public anger. Boot them out.
Nobody listens to the real climate change experts. The eco-nazis have the media enthralled by their lies and bulls**t.
We must stop appeasing Islamist extremism. Throwing them out would be a good start. We must also stop letting them in.
G20 leaders are good for nothing. No s**t.
Hate cleric leads jihad cash appeal. Charge him with treason and hang him.
David Cameron pips Gordon Brown to new popularity high. Brown is finished. Pity he doesn't know it.
Quiet crawl to peace on the Afghan shuttle. By peace they mean surrendering to the Taleban.
Legal sandstorm over Sahara film flop. I thought the film was good. Not as good as it should have been. Pitt beats Bond anyday.
U.S. in deal to refurbish aircraft for Taiwan. That should piss off the Chinese.
the Clarkypoos bit......
I’m starting divorce proceedings in this special relationship.
Range Rover TDV8 Vogue SE.
and little Jimmy May
Time to ban the bollards.
The Idiot’s Guide to Destroying the Economy: a 12-Step Program
Think destroying the mighty economy of the United States is too big a job for you? Relax. Anyone can do it. A friend sent me a handy-dandy no-fuss 12-step program for wreaking financial havoc among even the world’s most advanced economies. I adapt it below for your edification. Your congressmen probably already have a copy. The White House certainly does. But you might want to print it out in case some opportunity for spreading unhappiness comes your way:
1. Since investors and the market in general hate uncertainty, have a vast array of conflicting ad hoc policy decisions so as to create uncertainty everywhere.
2. Transfer money from those who create sustainable jobs to those who create unsustainable jobs, e.g., the government
3. Promise to invest money in things that will enhance the country’s infrastructure, such as roads and internet access, but then practice bait and switch on a breathtaking scale, so the effort is swamped with pork for pet projects dear to Democrats
4. A sufficiently generous larding of pork can help ensure the destruction of bi-partisanship, so squandering the initial good will is definitely a very good move. After all, it’s hard to get things done when you’ve alienated people whose help you need.
5. Undermine the ability of those who create jobs by increasing their taxes so there’s less money available for investment.
6. While you’re at it, offer to spread the income around by raising taxes, in the process, making it clear to those who work hard, invest in their educations, take risks, save, and delay gratification that they will see their money go to those who do not do these things.
7. Encourage class warfare. Divide the populace and destroy cooperation, thus encouraging backlash and creating paralyzing polarization.
8. Talk up protectionism, since the beggar-thy-neighbor approach has such a long and vigorous history of encouraging depression.
9. Scare people with talk of economic catastrophe. You can backpedal later, but the initial good work of helping people lose confidence should have a lasting impact.
10. Print money on a scale that will insure inflation in the future. Print it on a scale that will make people not want to hold U.S. debt without staggering interest on that debt, if they’re willing to hold U.S. government debt at all.
11. Instead of allowing hopeless institutions to go bankrupt, pour vast amounts of money into them, prolonging the pain and running up the cost while only delaying the inevitable.
12. Burden future generations with unprecedented amounts of debt so that the eocnomy you ruined today stays ruined tomorrow.
My friend stresses that this list is not exhaustive. Ask your elected representatives for further tips. Or write to the White House: they have loads of ideas for making things worse. But be patient. Ruining the greatest economy the world has ever seen is not something you can do overnight. But it’s amazing, isn’t it, how much progress the President has made in less than two months? Five days before the election, he told his followers that they were that many days away “from fundamentally transforming the United States of America.” Poor things. They thought he intended to make America stronger. Fat chance.
H/T M Kohl
How not to sell weapons to India!!!
This is a sales video from the Israeli Arms Manufacturer Rafael aimed at the Indian market.
H/Ts JMH & Double Tapper
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