Tuesday, March 31, 2009
Friday, March 27, 2009
Wednesday, March 25, 2009
1. Does not understand the legislative process regarding legislative authority granted to the Treasury.2. Does not know that the provision for the Federal Reserve was in the 20th century and not "the Constitution."3. Needs the issue of "financial stigma" explained to her (remember, she sits on the financial services committee).4. Needs an explanation regarding the authority of the Treasury to close banks versus insurance companies (remember again, she sits on the financial services committee).6. Claims ignorance of the committee rules regarding time alottment provisions.
Monday, March 23, 2009
Sunday, March 22, 2009
This from a friend of mine. There is lots of anger out there.
When a fireman sees a house on fire, he sounds an alarm, dons his turnout gear, bravely rescues the occupants and puts out the fire.
When an investment banker sees a house on fire, he quietly sells the burning house short, uses the proceeds to buy a larger house for himself and, when someone suggests that his taxes be raised to help the homeless, he rails against the dangers of socialism.
Saturday, March 21, 2009
Friday, March 20, 2009
Tony,OK, so here it is another Friday, this time at the end of a "winning" week, but we are still flirting with the November lows and assuming that the most recent shitstorm is just short-sellers wreaking havoc when the reality is that nobody is buying into this Ponzi scheme any more.
You want some sentiment? I'll give you some sentiment: I'm pretty much done. The only thing that has worked for months is yellow and white metal that has no inherent value or dividend and is mined to the detriment of helpless indigenous people throughout the world.
I hate go all Hobbes and Malthus here, but the world economy is fucked up beyond all repair with no end in sight. Dow 5000? Shit, try Dow ZERO. Name one company that deserves my investment.
To quote Jon Stewart:
"These Wall Street guys were on a Sherman's March through their companies financed by our 401ks and all the incentives of their companies were for short-term profit. And they burned the fucking house down with our money and walked away rich as hell and you guys knew that that was going on."
Their minions who commentate on CNBC defend the sanctity of the "contracts" that have allowed executives to steal taxpayers' hard-earned money so they can ski Europe and travel the world on their yachts.
You want my portfolio? Here it is: Cash, gold, silver, Spam, firewood and ammo-- not necessarily in that order.Signed, Barry