It's Funny Cuz It's True...

That final comment rocks.

The Scariest Site on the Internet.

http://market-ticker.denninger.net/

You Have to Be INSANE to Keep $$$ in the Bank

http://market-ticker.denninger.net/archives/2049-All-You-Need-To-Know-About-Bank-Balance-Sheet-Fraud.html

And this is why the FDIC is a retarded idea in the first place. Along with fractional-reserve banking. And cheap money... etc. etc. etc.

We're so screwed.

Get a Rope

http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1289050

Hat tip to JAC's blog. Truly insanorous.

Dr. Doom Speaks:

Maybe I Should Watch More Often

Some funny before the semi-serious, with a hat tip to the LRC Blog:

The New F***ing Citibank - watch more funny videos

http://www.thedailyshow.com/full-episodes/index.jhtml?episodeId=220533

Dude... John Stewart prison raped this dude. It's almost painful to watch.

But Stewart is being completely naive himself. Why in the world should anyone take MSNBC or Mad Money at face value? Skepticism is called for at all levels. Comedy Central answers to folks too. Maybe they're shorting MSNBC stock and making dough off of this performance. Who knows?

Short selling isn't evil. Even leveraging isn't evil. The evil is using the government to make these gamblers whole when they guess wrong.

It's as if the Duke & Duke brothers in the Eddie Murphy movie "Trading Places" could just walk over to a Congressman and say "Hey! We fucked up! Cut us a check please." And they walked away with a check. That's the meltdown writ large.

And I don't watch The Daily Show, but how often does Stewart call out fractional reserve banking, the FDIC (and other "insurances") or the Federal Reserve?

Wall Street didn't do this by themselves. The simple fact is that they COULD NOT do it by themselves. Wall Street cannot destroy the dollar without the Fed's involvement. They can destroy the stocks, but not the dollar itself.

And yes, John: toxic mortgages indeed had a very large part in all this financial meltdown too.

And anyone investing expecting their stock funds, 401K's or whatever to always go up is just stupid. And greedy. Stewart did get it right to say hard work gets you ahead. The real bitch of it is that working hard, living within your means and paying your bills right now is likely to have you watching your irresponsible neighbors get Free Obama Cash to help with their mortgage while you have to struggle and watch any savings you have get wiped out by inflation.

No one but the Austrians seem to have called this meltdown in advance. But the Keynesians sure spout plenty of stupid bullshit about how to fix it. How wise is that approach?

ASIDE: On that subject:
http://www.lewrockwell.com/orig10/richards-b1.html

This is a great clip, just incomplete.

Well I Guess Our Asses Are Doomed!

Start watching around 3:10.

70 percent in three or four months.

Whiskey-Tango-Foxtrot doesn't even begin to cover my brain's shock.

(betcha no one gets that quote, either)

EXACTLY What Should Happen

http://www.lewrockwell.com/vuk/vuk25.html

Responsible banks make huge gains, stupid over-extended banks are biting the dust.

We need MORE of this happening. Not stupid BILLION-DOLLAR bailouts.

Fuck the wrinkled whores of Wall Street, sucking off the government cock, er.... teat.

But nope, Obama and McCain both pledge to save their parasite contributors.

Fuck this dishonest world. Fuck the parasites of Wall Street. We should rise up and tar and feather their thieving asses. Or much, much worse.

From The Mouths of Ducks...

"Too Big To Fail"

The arrogance of our "leaders" is stunning.

They sound like liberals. "The past can't repeat itself! We're smarter than those previous idiots! WE can make it work!"

What a sick joke. We're depending on the idiots that put us in the sinking boat to fix the problem.

That doesn't work with drugs, wetbacks, welfare, racial hatred, crime, foreign relations or any other problem the government works on.

So what the fuck makes anyone think Big Brother knows anything now?

"Too big to fail" is like tying a rope to the Titanic and hoping it doesn't drag you under too. Better to let the hunk of scrap just sink already.

Bush & Congress Fiddle While The Nation Burns...

I'm A Sucker For Legos...

Econ 101 But Funny!

I hope some really smart guy can tell me where this comedy routine is actually wrong.

HOLY SHIT!

I know I post a great deal of links. But read this one. Really, it perfectly shows the insanity in our governments tax dealings.

CUT YOUR TAX LIABILITY TO ALMOST NOTHING?

Stupid Sluts, Mewling Once Again...

The whore HERE is whining about racism. Again.

The article is useless. It never once ACTUALLY accounts for credit history or other factors. It gives NO evidence of real discrimination, just whines about blacks paying more. And acts as though this is evidence of something.

Much like the hand-wringing about black teens offing one another in downtown LA, the cry of "RACISM" adds nothing to the conversation.

The source of the whining is from THIS article. There have been plenty of these articles in the "news" before, regarding mortgage rates being unfairly raised to blacks.

But when all factors were actually accounted for, even BLACK-RUN banks in LA charged blacks there higher rates.

Why? Because it was good business for risky loans based on the amount borrowed, the value of the object the loan was for and the borrower's credit history.

But why should facts get in the way of the Washington Times screaming "racism" once again?

And, just for shits and giggles, why would anyone think that lenders are going to give wetbacks a better rates than blacks?

:(..... It Makes Me Sad... Shane Doesn't Pay Attention...

(That's me crying, BTW.)

Duh. I DO hate the government. Don't you pay attention?

Shane said in the comments of the previous post:

"The money is there."

What do you mean by that, Shane? I don't want to misunderstand ya.

John (Shane refers to his blog in the previous post's comments) says principles don't matter. Fine. MY principles say the government shouldn't be funding this shit. What makes the NCAA, the Colts, or the United Hub (oops, gotta forget about THAT one) any more special than Fritz's store? Oh, I guess if you have enough zeroes in your payroll than the government blows you. How naive of me!

It's pathetic that our state and city governments blow sports
organizations and rape us with taxes for their ego-boosting bullshit.

And anyone that disagrees is wrong. Wait! That's WRONG!!!!!!!!!!!!!!!

I used more exclamation points so by that fact alone I MUST be right.

Actually, I'm right because the benefits to the city seem to never materialize. The idiots in charge always find ways to fuck it all up.

They ALWAYS "prove" the benefits beforehand. ALWAYS! And yet folks like you and John ALWAYS buy into their bullshit.

You're also forgetting that money NEVER appears from thin air.

Try remembering this:

VIRTUALLY EVERY SINGLE DOLLAR IS SPENT FOR THESE SPORTING EVENTS TAKES AWAY FROM OTHER SPENDING ACTIVITY IN THE CITY OF INDIANAPOLIS. (Some folks do come from out of town.)

You know, maybe even somehow in my dorky fantasy world this spending could affect your livelihood, Shane. Like maybe somehow reducing money spent on... let's say.... Movie tickets?

Hmmm... $20... that's close to the cost of evening admission, candy and a large combo at AMC Clearwater 12. Add at least another $10 for drink and munchies ($20 if you go for a beer or two)... Hey! What's a program run at the RCA Dome? $7 $10?

Add that all up and that's anywhere from 1.5 to 5 (let's face it, you're not sitting in nosebleeds anyway) trips to the theater. (Not everyone in the city gets in free.)

Net benefit to the city AFTER the bond issues and other bullshit? I'd guess none. But I'm not paid $100,000 to "consult" for the city or the NCAA to pile up bullshit enough to destroy the entire state's ability to smell it. So I cannot "prove" anything.

I guess I should just turn off my brain and copy and paste the propaganda spread by the pro-sports lobby...

Nah.

AGAIN, for the folks in those $20 cheap seats: If there was so much money to be made, these guys would NEVER let the government get involved. They KNOW their costs are underestimated and their profits overestimated. Don't buy the bullshit.

Shane, I WOULD look forward to you admitting you were wrong in 15 years. But you'll just say something like "Well then we should never have let the government get involved!".

Which is exactly what I'm saying now.

Well if your ass wasn't so tight...

... it wouldn't hurt when I raped you!!

Quote:
In May 1776 Virginia alleged that the depreciation was attributable to people's refusal to accept the notes, or to the insistence on higher prices in terms of paper money than in coin, or by "other devices"; the following year the Virginia assembly blamed the depreciation on "the pernicious artifices of the enemies of American liberty, to impair the credit of the said bills, by raising the nominal value" of coin. The Massachusetts General Court spoke of "the avaricious conduct of many persons, by daily adding to the now exorbitant price of every necessary and convenient article of life."

End quote, from here:
http://www.mises.org/story/2340

The tune never changes. Governments rape the people. In the case of our own time (and for about 100 years now) via the Federal Reserve. Which is a conspiracy run by private banks to rape the U.S. "dollar" (look up the real definition of that Spanish word sometime).

And when the populace complains about the raping and/or acts against it, the government blames the people for not being compliant in helping rob themselves of their hard-earned wealth.

BTW: Wealth is NOT the same as money. Compare what a million dollar could buy in 1906 vs. today. Here's a hint: about 50 years ago, my grandparents bought their 2 story home (with full basement, attic, and a good deal of land) in Bedford, MA for around $5000. Now that won't even cover a year's worth of rental payments in the worst place in town. My brother was going to have to pay well over $2000 a month to rent a decent apartment. So in less than three months he'd have spent enough to buy my grandparents' home. I'm still stunned to think of it that way.

All because rich, evil bastards figured out how to rob us without most of us having a damn clue, other than on some instinctual level.

I don't have much of a point, just venting. I'm just so sick of seeing evil go unpunished in this world.

Continuing from the link:

"Let me close by bringing to your attention something I read not long ago in arguably the most prestigious historical journal in the English-speaking world. Now I realize I probably shouldn't be surprised at much of what I read in the professional journals, but I was really quite shocked, looking through the American Historical Review, to come across a 1929 article on Revolutionary War finance by Ralph Volney Harlow.

Wartime inflation, according to Harlow, was simply not that bad. Sure, people suffer under an inflated currency, since they see their savings sometimes dramatically reduced in value. But he reminded us that, after all, "what the public might lose in depreciation would be counterbalanced by the gain to the government of means to finance the war."

You don't say — the government is enriched to the extent that the public is looted. A real insight, that."

and finally...
"In the eighteenth century, people learned lessons from their wartime experience, and devotion to hard money was widespread in the years that followed. Today, the workings of the Federal Reserve are so obscure to most people that hardly anyone is even aware that there is a lesson to be learned in the first place. It is in just such an intellectual environment that government is able to get away with its greatest mischief."

Okay, Now I want to vomit.

From the Wall Street Journal

Tax Tidal Wave
October 6, 2006; Page A14

Congress keeps breaking the Beltway Book of World Records for spending money, but the government will soon report that the federal budget deficit for the just-completed 2006 fiscal year fell to about $260 billion.

What's the secret of this deficit success that you aren't reading much about this election year? It isn't spending restraint. The federal budget expanded to $2.7 trillion last year, a 9% increase, or three times the inflation rate. Over the past six years the federal budget has increased by 49.2%.

The main cause of the deficit decline -- 90% of it, says White House budget director Rob Portman -- is a tidal wave of tax revenue. Tax collections have increased by $521 billion in the last two fiscal years, the largest two-year revenue increase -- even after adjusting for inflation -- in American history. If you're surprised to hear that, it's probably because inside Washington this is treated as the only secret no one wants to print. On the few occasions when the media pay attention to the rise in tax collections, they scratch their heads and wonder where this "surprising" and "unexpected windfall" came from.

One place it has come from are corporations, whose tax collections have climbed by 76% over the past two years thanks to greater profitability. Personal income tax payments are up by 30.3% since 2004 too, despite the fact that the highest tax rate is down to 35% from 39.6%. The IRS tax-return data just released last month indicates that a near-record 37% of those income tax payments are received from the top 1% of earners -- "the rich," who are derided regularly in Washington for not paying their "fair share."

More good news is that dividend-tax payments appear to be up as well, even though the tax rate was lowered to 15% from as high as 39.6%. A National Bureau of Economic Research study found that "after a continuous decline in dividend payments over more than two decades, total regular dividends have grown by nearly 20%" and that this reversal happened at "precisely the point at which the lower tax rate was proposed and subsequently applied retroactively." There hasn't been a purer validation of the Laffer Curve since Ronald Reagan rode off into the sunset.

As for the budget deficit, at $260 billion it is now about 2% of our $13 trillion economy, well below the 2.7% average of the last 40 years. Most states and localities are also afloat in tax collections, and including their revenue surpluses brings the total U.S. public sector borrowing down to roughly 1.5% of GDP. Not too shabby given that we're waging a war on terrorism and Congress spent $50 billion last year on Hurricane Katrina clean-up.

Anyway, we thought our taxpaying readers might like to know how much you've all been contributing to the falling deficit -- the best-kept secret in Washington."

END ARTICLE - BEGIN RANT

Which should mean that if we leave Iraq and stop the foreign adventures, we would be in a surplus in no time, right? I won't hold my breath.

Eat this you Red Greens!

Bullshit!

Again, like sports arenas: if this crap really worked to the benefit of everybody, the government would NEVER HAVE TO GET INVOLVED IN THE FIRST PLACE!!!! But someone figured out how to get free money (like the 2nd richest man in the WORLD did in Seattle in the 90's). And we all end up paying for it.

I love this clip. Simply because of how f'in blunt it be.