Swap

Swap
3/14/09
Swap The Worst President Ever for the 500 trillion dollars I heard exists in the form of credit default swaps. This sounds high and maybe it was all derivatives, but I think I heard credit default swaps. The point is that Bush allowed the lack of regulation to cause a probable melt down of the financial system. I think these vehicles should be the first to fail as sucker bets. And as speculation? I understand they are similar to insurance if entities default on their financial obligations, and to the extent I understand it, these sound like sucker bets. How much of the Tarp rewarded this behavior? We don’t know because of a lack of oversight that was warned of on this blog, and early on. The most swaps should be denied as possible. This without sinking the system. And as someone else said, banks that are too big to fail are too big.
And it’s time to pick on Charlie Rose again. I’ve said before he should not be underestimated, but I guess he is not to be trusted either. When he had the administration’s top Education person (Secretary?) on this week, Charlie failed to ask him about the controversy over a longer school day and year that is being proposed. I think such lengthening is a very bad idea. It is a further intrusion of government into the lives of minors, who seem to have few rights anyway. Anybody who has anything to do with summer jobs and vacations probably thinks it’s a bad idea too.
The guest did mention he thought school should be available till 6 or 7 pm. This sounds late, though students currently can stay late VOLUNTARILY if their schools haven’t had their extra-curriculars cut for finance.
On a more ridiculous note, Charlie’s voice has had way too much base lately. This is a simple, ridiculous technical issue – is this to prove he’s a tough guy? The education guy’s voice was normal. So was Nancy Pelosi’s last night, but Charlie had more base than my music CDs. The human voice doesn’t sound like that. People need to sleep around here, and he knows his show is on late. Tsk tsk. I just turned him down, couldn’t make out what he was saying, but who cares what blandness he was thump thump serving up? I heard most of her, and most of a great radio Cavs basketball game.

Forget It

2/17/09
Forget It Charlie Rose
Normally this is the day to say thank you, for getting these high brows to testify to the truth of American War Power waged on earth. Today is the day that congress sold out the peoples’ air waves. These crooks made money by selling TV airwaves, so peoples’ televisions won’t work. Sometimes Dexter Filkins and Martha Raditz are good enough. Not now, Charlie Rose. Forget You.

P.S. 2/25/09 By way of explanation, the anger accompanying this post springs from the notion that it is time to wind down the Iraq war. Mr. Rose’s guests provided a business as usual approach to the war. Charlie should know better that he is responsible for what he lets his guests get away with. My point is that the time is now to rescue the American soldiers from their plight. Win, lose, or draw, the war is over. Ethnic cleansing or civil war, the American role is over. If the Muslims kill each other, this is a bonus as there will be fewer to deal against later if necessary. OK maybe we get some military bases in Anbar. Bye-bye Green Zone. Sorry Charlie.

Fog

1/15/09
Fog
Something’s bothering me from this last post. I want to unlink the Jewish mafia and the state of Israel. Some of it is not my business. The post gave the impression that because I may have problems with the Jewish mafia, if it exists, the war in Gaza was a wrong headed enterprise. I don’t think this should be my position.
The post says that because too many civilians are inconvenienced, Israel is wrong. This may be true, as other nations call for a cease fire. I also think of it this way: rule # 1 is Make Love Not War. Rule # 2 is: In case of confusion, see rule # 1. If you really have a problem with sex, one can create love and/or good things, in other ways.
Where it gets interesting is rule # 3, where if Hamas is launching rockets out of Gaza, Hamas is going to get hammered. This is a kind of Double Think, similar to what was in the book 1984. The problem for Israel is an existential struggle. It is related to the fact that there were 6,000,000 murders in WWII. And that this must never happen again.
Gaza, after being recognized by George Bush, elected a bunch of terrorists (Hamas) to lead their government. Bad move. Such enemies provided things like suicide bombers. This is wrong because suicide is wrong. This is wrong because of innocent victims nearby – victims of terror. All bets are off and Hamas should be destroyed. If their soldiers hide amongst civilians, that is their problem. This is evidenced by the current factual state of events. And the Fog of War. This is an explanation of why things are the way things are. Sometimes I think I should not be involved in such decisions, because I’ve led such a sheltered life.
But I do get tortured almost every day. I’m in pain now. The other day I paid $1.50 for a can of Spaghettios with meatballs from Walgreen’s, and had a bad reaction to it below the belt. What, not enough money, or maybe they don’t like the company Walgreen’s for some reason? Here’s something you won’t see on TV; because they are bought and paid for. The idea, that consumer goods can be poisoned from the factory is unthinkable, because of the phony reality perpetrated by the media.
And that Jewish Mafia, I think does exist. What, I can’s swim at the JCC? I get poisoned hard on those days. Because I say hello to Orthodox married women? I say hello to a lot of people. The Jewish mafia is probably allied with the Russian mafia and the regular mafia; these people should be going down, because they are evil. They should be dealt with accordingly. I’ve mentioned them on this blog, but in other life I try to avoid them. I don’t gamble or do drugs. I don’t interfere with hookers. They should leave me alone, but they are going down, by all means necessary.
How Israel and the Jewish mafia are separated remains to be seen. I don’t expect to survive this situation, as no one gets out of here alive. This blog is doing crummy – I think I had one reader on a tickler. If anyone has helpful comments or suggestions, they are welcome. There may be some time to smell the roses.

War Crimes

1/5/09
War Crimes
Way to go Israel, you just lost anther war. Are you going to use cluster bombs this time? Maybe ones made in the United States? The whole world is watching as you devastate a civilian population.
I was ready to support you and a one state solution. But I’m a little busy right now fighting off the pain from heart poison, testicle pain, and aggravated lung cancer: aggravated from doings of the Jewish Mafia.
What I want to know is if this is what Hitler had in mind: Stop the Mafia. Well? One State? Two State Solution? Final solution? I’m just posing the question because I’m in a lot of pain and it looks like the Jewish Mafia.
I saw the movie Valkyrie and I gave it an 8 out of ten when my father asked. Sure there was a lot of German soldiers running around. But half of them were trying to bomb Hitler. I don’t know, you watch the movie if you can stand giving up the money to a Hollywood steeped in sin. It was filmed on location, if this makes a difference.
My left brain cancer is acting up, so I better go and see you on the flipside.

Bridge to Pakistan

12/12/08
Bridge to Pakistan
When the NTSB came out with their report on the collapse of the W35 Bridge in Minnesota, they noted over half a million pounds of construction material on the bridge’s weakest point. I believe the bridge was taken down by the mafia, as extortion to receive money for “infrastructure.” This was done with water, sand and vehicles – intentionally. Because that’s the kind of people they are. They are not as harmless as fixing the sports games.
The Main Stream Media, or MSM, won’t tell you this because they are bought and paid for and have no guts. They should go bankrupt, like the auto industry.
I’m in pain now and get poisoned from multiple consumer products.
The goose in Pakistan is cooked. If there is such a thing as war with a nuclear power, you’re watching it now. Expect more drones near Afghanistan. This kind of thing is better left to the professionals. This was India’s 911 and they have had problems before. I don’t know what Rice said to India.
I told you they were better off with Musharraf. Now the ISI seems more out of control. As Rice said, the terrorism is the country’s responsibility. It is good that their troops rolled up the one camp, but that is not enough.

Return of Markets

10/9/08
Return of Markets
Sure, sure, I’m an economist too. Not only am I a writer, but here on this blog are words of wisdom to solve the Financial Crisis. I hope. But more than that. I don’t like the doom and gloomers. I want to say that failure is not an option. At least, to sow panic and fear when one does not know what they be talking about is irresponsible. Yes I’m upset. Because of the loose chatter that passes for commentary. And furthermore, on the other hand, the guy on TV is going to lose his show if he keeps giggling and wearing a suit. Because if the Depression hits, it’s going to be like the French Revolution around here – Off with Their Heads.

10/11/08
Every day they tell us something different. The mainstream media will tell us how we are doing. They are saying the establishment has the tools to deal with the problems. They are trying one thing after another and it hasn’t been enough. One day soon we may hear everything is OK. Unless this is a classic battle of good versus evil, and perhaps even still.
It’s been a real hassle to keep up with the economics of what they say is going on. I don’t like that it’s complicated and that you have to take peoples word for cause and effect relationships of financial entities.
In this space I want to relate some problems of the 700 billion dollar bill, even though it’s a done deal and is supposed to be a large part of the solution.
Maybe the home mortgages being repaired is a large chunk. Someone said banks are not going to lend money to mortgage people with no collateral. (I think they are going to have to.) I’ve got to say McCain’s recent plan for renegotiating sub prime loans sounds good. Is it dangerous to say something good about McCain? More down below.
This line about injecting capital into the banks keeps coming up. Likewise so does losses from derivatives and deregulation, including a big legal change in 2004. Fanny Mae and Freddie Mac are supposed to handle mortgage renegotiation also – they’re authorized for about a trillion dollars, which makes one wonder why the extra 700 billion was necessary. This bails out the rich and every dollar spent by the government is a reward for improper greedy practices.
Injecting capital sounds a lot like, give them money. One person’s view was that we give them the money, then we own some or all of the bank. This sounds like nationalization. Now they are saying that an obscure part of the 700 billion bill authorizes the partial nationalization of banks by the govt. Are we to be thankful for this twisting?
Also there have been rate cuts and monetary policy expansion like 900 billion by the Federal Reserve. The monetary expansion works in a similar way to the 700 bill, which is fiscal policy if it ever gets applied. A good thing is that if it gets applied, a lot of it can be like an investment where the taxpayer gets money back, when purchased assets are resold by the government for example.
Well here has been a lot of rambling commentary that has been supposed to be more simple explanation of some of the things that are going on. The fall of the stock market hasn’t been too bad I don’t think, because it can go back up. In fact, I wonder how much manipulation is being done by bad guys in a struggle of good versus evil.
On the 700 bill, I learned a lot from commondreams.org. On or around September 30th were posts by Michael Moore, Glenn Greenwald, John Nichols, and Dave Lindorf. Also Peter Costantini, if only for his title quoting Bush, “This Sucker Could Go Down.”
There is an October 6th post about Dennis Kucinich, who gets a lot of credit for pointing out that it’s not exactly liquidity problem of the banks, but rather a problem caused by the Accounting Standards Board, The Securities and Exchange Commission, and the Federal Reserve.
Phone calls were running 200 to one against the Bill. 200 economists signed a letter saying it would worsen the meltdown. I don’t know that these problems were corrected in the new Bill. Even oversight, I don’t know that it’s enforceable because it wasn’t in the first bill. Neither were there penalties for executive theft. In the bill there was nothing to force banks to rewrite mortgages. It was only “suggested” that the government be paid back
The letter from the economists said the bill lacked Fairness because it’s a subsidy to investors at taxpayers’ expense. It had Ambiguity because the terms, occasions, and methods should be clear and monitored. Its Long Term Effects were weakening private capital markets. Perhaps this last meant that these markets incorrectly rewarded too much risk.
So I think that the bill should not have been rammed through. We should have kept our powder dry without using it. It’s a bad sign that our politicians ran all over the will of the people.
This being said, it’s done, and maybe the investment will work out and this fiscal policy will stimulate the economy.
It’s time to clear up some loose ends. Yes I think there could be social unrest if the shelves are empty. No, I don’t think this is going to happen. Lately they’ve been saying it’s an international situation. There were a lot of them buzzards standing in line behind George. What if one of them had to take a piss? Don’t they drink coffee?
I digress. I wish them well. Regarding McCain, is it dangerous to say something good? On the Social issues, up and down, I’m liberal. If I was a one issue voter, it would be for a woman’s right to choose. But now because of personal problems including scary physical pain, I think of the Demos as mobsters with their unions and big construction projects, and organized crime. That’s why my politics is taking a hard right. In fact it’s possible that this financial crisis is engineered with downward pressure by the bad guys who are trying to take over. If we push up, they will fail and when things stabilize we can do something for the poor people.

10/13/08
In fact maybe we should do some fiscal policy like another stimulus payment to the poor or even everybody. You know, trickle up economics.

Markets

9/24/08
Markets
Now is the time for all good men to come to the aid of their country. And markets tend to clear. That is, everything gets sold, at various prices. Therefore everyone should resist the urging to write this 700,000,000,000 dollar check. Each of these failed entities represents risk, greed, and probable criminal behavior. Bad debt should not be made good.
Every day this crisis looks different. I’m not sure of the answer. A very many people should be consulted. For example, Gerald Celente (on Coast to Coast) has said that the blame rests on the Mafia, the Democrats, and the Republicans. Maybe he meant the government fomented the legislative environment that allowed the criminals to run rampant. He’s also a doom and gloomer who says the global financial system cannot be saved.
So much of the problem comes from persons passing of worthless things as valuable. And bundled and sold. Catherine Austin Fitts uses the example of one property mortgaged ten times. And this is organized criminal behavior.
According to Allan Meltzer of Carnegie Mellon University (on PBS,) no further rescue is necessary at this time. It has been pointed out elsewhere that the housing market has already received attention with the nationalization of Fannie Mae and Freddie Mac.
There should be no corporate welfare for the wealthy. The failed enterprise and cultures should be allowed to fail. We should keep our money in our pockets. This way there will be no inflationary pressure, the dollar will not devalue, and the price of oil will not spike up.
I don’t know what it means for companies to leverage 30 to one. But it’s not good. I don’t know what it is to have a reverse auction, where companies bid to pay the least price. And many people do not know what the derivatives are. This situation is very complicated. And we shall hear more about it.
It’s going to take some gumption to resist Mr. Paulson, Mr.Bernanke, Mr. Dodd, and Mr. Franke. This bill is not good for anybody but the white collar criminals. When the proposal was first presented it was fascist in that it had directives for no legislative oversight, or judicial review. Maybe this was what was needed to fight the crime, but it has been judged as extra-constitutional. It is probably another glaring inconsistency to think that all those billions, from the taxpayer, is going to make the average person feel better in the long run. Stay tuned.
To update on previous posts… Yes that was the entirety of my comment that got newspaper style censored.
Musharef was a good guy, who did what had to be done when he did it. Relations with his country were stable when he was in charge. It is true that democracy got him removed from power. It was a democracy he helped preserve and he was a friend of the U.S.
Iran will still probably be bombed. Amadinejad will be shown to be crazy, because it will have been his running commentary on the existence of Israel that got his country bombed.
To conclude, and with all things considered, America is being held hostage, being held for ransom, by organized criminals, and we should fight back.