Tuesday, November 30, 2010

We the Sheople

These days I constantly shake my head at just how naive the American people are. The Tea Party is full of ignorant nut jobs. Republicans are the party of a very few wealthy who have sucked in a vast number of highly religious, anti-abortion, gun loving, financially bankrupt Americans. A few wealthy Republicans, pulling the party strings, engineer a policy of lining their own pockets at the expense of our entire nation. People of vast wealth are exploiting naive people of faith. Wall Street and Corporate Executives continue to reap sky high financial rewards, while a vast number of Americans are helplessly unemployed. Our economy almost crashed and burned, but not a sole got punished. And on, and on, and on.

These inequities continue because the vast majority of Americans just sit there and take it. They're ignorant. They don't think. They don't look around and make an effort to understand what's really going on in our country. They don't protest. They don't take to the streets. They don't rise up and raise hell. They just sit there. They take it. They do nothing.

Financial traders have a term for these Americans. They are a cross between sheep and people. Sheople. Americans are largely Sheople.

I saw a classic case of the American Sheople unfold this weekend. I was out shopping the Black Friday specials. I stood in line with over 100 sheople to buy an iTouch for my daughter, at a great price. I was about number 20 in line. Time and again, the store employees announced that there were only 35 iTouches to be sold. There were easily 100 people in line. They stood there, ignorant people who couldn't figure out that with only 35 units for sale, there was no chance that persons 36 through 100 would be able to buy anything. They waited in line for almost an hour anyway. Sheople.

We are a nation of Sheople. It's no wonder we find ourselves in such a massive economic mess. We vote for idiots to represent us in Washington DC. We allow the very wealthy to take advantage of our nation's Treasury at the expense of our children's financial well being. We sit around and do nothing about all the corporate theft that goes on around us. We just sit back and take whatever is dished out to us.

When I read this article today about Larry Silverstein getting another $200 Million in stimulus money on top of $1.2 Billion in low-cost government financing to rebuild his world trade center towers, all I could think about was - Sheople. This is the very same man who tried to present a legal case to collect twice from his property insurer for the entire value of the world trade center simply because two separate planes caused the damage. This is a billionaire who has become vastly more wealthy as a result of 3,000 lives getting snuffed out by terrorists. This is a man who gets handed our money with ease. He had no downside risk in his property ownership, only a financial windfall paid to him by the American Sheople Taxpayers.

Next time your house burns down, see if the American Sheople come to your rescue.

We are Sheople. We get what we deserve. We get screwed by the wealthy, constantly.

The top 2% wealthiest Americans are about to pull the wool over the eyes of the American Sheople, again. These wealthy will be aided by our US Senator Richard Burr. They will get tax cuts, although our nation is $14 Trillion in debt. We are the sheople. We vote for idiots like Richard Burr. And we allow the wealthy to reward themselves at the expense of our entire nation's Treasury. We are the sheople. We get what we deserve.

North Carolina deserves better than Republican Senator Richard Burr.

Tuesday, November 23, 2010

Finally, I have a home

Finally. I finally know where I belong.

No Labels. That's my party. Its a newly formed party of Centrists. We'll pull from both Republicans and Democrats. I'll belong to the party of Bloomberg terminals and Panera bread. Our party's coming out wing ding is upcoming on Dec. 13th.

And Senator Richard Burr's days are numbered.

North Carolina deserves better than Republican Senator Richard Burr.

Senator Richard Burr and Republicans have a boot on the neck of the middle class

The rich grow richer, the middle class have a boot on their neck:
A large income and/or social disparity is a foundational cornerstone of revolution. And even in the face of that issue, our state's Republican Senator wants to continue to hand out tax cuts to the wealthy, while running massive budget deficits. Ireland, here we come. And revolution can't be far behind. Invest accordingly.

North Carolina deserves better than Republican Senator Richard Burr.

Monday, November 22, 2010

Republicans have redefined America

The securities trading industry is being raided today. Some major hedge funds are swarming with FBI agents. Yes, there are a number of hedge fund managers and traders who are crooks. Probably, most of them. But there are also quite a few with a sense of humor. I run across many each and every day while reading and researching. The funniest one I read today? ....

One trader was moaning about how Republicans so destroyed our economy as to totally redefine our nation ....

"America has become a giant bank, with its own military".

Sunday, November 21, 2010

Financial disclosure perplexity

I took a look at Richard Burr's financial disclosures again this evening. It's very perplexing. I've written before about his past disclosures of purchases and sales of stock in many of the financial companies that got our country in so much trouble. When I last reviewed those disclosures, Senator Burr had reported buying and selling companies like Lehman & Bear Stearns. And his disclosures had reflected our Senator as a very active stock trader in 2008. One of the most troubling transactions showed our Senator selling his Bear Stearns stock in 2008 the very day after the government discovered that Bear was going to declare bankruptcy. But when I looked again this evening, those transaction disclosures no longer exist. They've been wiped clean. There's no evidence now of him even owning these securities. What the heck is going on here?

I'm not sure what is going on with Senator Burr's financial disclosures. But if our Senator did own stock in Lehman and Bear Stearns, and he's now covering it up, we need to know. If it was a website error, that's an understandable issue. I just wish I knew why he once was an active trader and investor, and now, there's no indication of much of anything being bought and sold. And transactions that had been reflected in the past are now wiped clean. It's simply perplexing.

Right Wing Republicans are just plain wrong on tax cuts

I'm absolutely bewildered with the debate on extending income tax cuts for the richest Americans. We just can't seem to apply common sense. There is absolutely no way we can close our budget gaps with spending cuts alone. And if we can't raise the income tax rates on the richest among us, who pay taxes at incremental rates significantly below the middle class, then there is no hope that we'll ever solve our nation's financial problems. If tax increases on the rich don't come to pass, then you need to bet the farm that our nation's financial markets are going to crash and burn. It's only a matter of when. And it won't take long to happen either. It'll be at some point within the next 5 years or so.

The most bewildering aspect of this whole issue is just how silly the arguments are from the Republican side. Let's take one good example staring us right in the face. Ireland. Just a few years ago, Ireland was one of the world's hottest economies. They cut their tax rates to the bone. The Right Wing voices, like Larry Kudlow, were shouting at the top of their lungs that the US needed to follow Ireland's lead and apply supply side economics through continued income tax cuts. In an article in 2007, Larry said this "We [United States] better do something. Indeed, a tax-cut war is spreading across Europe, where lower levies on corporate profits in Spain, Germany, France, and the U.K. are aimed at better competing with the U.S. in the global race for capital. The successful supply-side experiment in Ireland has become a Euro-wide model."

Well, we now see where Ireland's drastic income tax cuts took them. That country is now bankrupt. The EU and IMF are having to come in with massive aide to save Ireland. With this crystal clear example staring us in the face, the Right Wing continues to irresponsibly call for further income tax cuts in our country. Why? Our Republican party simply can't learn. It can't apply common sense.

You just can't keep on cutting income taxes, run massive deficits, and expect for the economy to NOT hit the wall at some point. And if the Right Wing nut jobs get their way in our nation, we're going to follow Ireland down the toilet sooner rather than later.

You won't hear our Senator Richard Burr apply any common sense on this issue. Senator Burr is a blind follower of the right wing agenda. He'll vote for income tax cuts on the wealthy. And he'll be directly responsible when our nation turns into another Ireland.

North Carolina deserves better than Republican Senator Richard Burr.

Friday, November 19, 2010

Mental Illness

Interesting headline I ran across today:

Nearly 1 in 5 Americans had mental illness in 2009.

I suspect that statistic is 5 out 5 in Washington DC, eh? It's probably 6 out of 5 when just counting Republicans. :--)

Republicans are out to rape America, again

I just love my Republican Party. Here's why:
  • Spencer Bachus wants to keep our banks in the business of gambling. Spencer wants to keep those dangerous CDS and derivative securities in a dark room where they can blow up the world economy. Get ready for your savings to go up in smoke. 11/19/10
  • Darrell Issa's new goal - unless it bleeds Republican red, let's chew up time investigating every damn thing in the past. Screw the need to focus on the future. My prediction - let's see how long Americans tolerate Darrell's clown act. 11/13/10
  • Mitch McConnell is too busy to meet with President Obama on the tax cut extension. What an arrogant ass. Yeah Mitch, it's much better to leave our nation's financial markets in a state of uncertainty over tax cut extensions. 11/17/10
  • Eric Cantor set to allow High Frequency Trading shops to continue to rape your pension plan, 401K, IRA, Roth, 529 and Coverdale. Nice, kick American investors in the teeth Eric. 11/10/10
  • Mitch McConnell, the KKK like Grand Dragon of the US Senate, ripped our President similar to how an old southern plantation owner would have talked about his slaves. The very next day, Mitch talks up working closely with our President. Huh? Its enough to think the man is prone to frequent bouts of PMS. 11/5/10
Don't you just love all the common sense being applied by our Republican politicians?

Republican politicians are 'effing INSANE

I woke up this morning at 4 am and tuned into the business news to hear what was going on in European trading. Ben Bernanke is in Germany, giving an important speech about the need to balance the world economy. Ben came on the tube at 5:30 am. His performance was stellar. The man is brilliant. In a crystal clear manner, Ben explained to the world why it was so very important for emerging market countries like China to stop playing games with their currency. All those idiotic Republican politicians who had been attacking Ben should be crawling under their desks in shame. Unfortunately, that's not the case.

What are the political idiots of our Republican party doing instead? They're in Washington DC right now cooking up ways to KEEP our banks in the business of gambling. They're in Washington DC right now finding ways to block the need to make all those dangerous CDS and other derivative securities from trading on organized exchanges.

Those 'effing derivatives nearly ruined our world economy. Those things came close to having us live in caves and crap in the woods. And our Republican party wants to bring back the gambling and allow those dangerous financial instruments to continue to trade in dark rooms? My Republican party is full of clueless morons.

Republicans politicians in Washington DC are simply INSANE.

Richard Burr? He's a follower. He'll do whatever the party wants him to do. We're screwed.

North Carolina deserves better than Republican Senator Richard Burr.

Thursday, November 18, 2010

WSJ Headline: Bernanke Takes Aim at China

The Wall Street Journal headline this evening: Bernanke takes aim at China.

An excerpt: "The Fed chairman's message, though scholarly in tone, was unusually blunt in laying blame for inflationary pressures in emerging markets and for tensions over currencies on countries like China."

Go get 'em Ben. But unfortunately, you won't be getting any help from our clueless politicians in Washington DC. Clueless clowns like our state's dolt of a Senator, Richard Burr. Those morons couldn't pass Econ 101 if their lives depended on it.

Those 'effing Republican politicians who recently attacked Ben will wind up with egg all over their faces. Ben Bernanke is going to force a world wide economic realignment that will set the world economy back on a path to prosperity. Watch and learn. In the future, we'll look back at this point in time and thank the lord that she sent us a former South of the Border waiter to act as our nation's Chief China knee-capper.

North Carolina deserves better than Republican Senator Richard Burr.

Republicans misread the "Fed problem"

Here's an interesting article. Republican political leaders are fighting the Fed tooth and nail. Why? According to the article, they are doing this solely because "They’re sensing that the Fed and Bernanke are not very popular right now."

Wow. What a classic case of misreading the problem and doing something really stupid as a result. Our Republican leaders are in dire need of a mental reset on this issue.

Are people really mad at the Fed? Or, are they mad as hell at what the Fed and our Federal Government are doing in order to rescue our nation's economy? I think it's the latter. And instead of fighting the Fed, Republicans should address the angst.

Here's why Americans are really pissed off:
  • We had to use massive tax dollars to save Wall Street. But name me a big group of Wall Street Bankers who got punished and now sit in jail?
  • We had to use massive tax dollars to rescue the housing market. But tell me why neighbors who overpaid for their house are getting mortgage reductions, are able to walk away without penalty, or just sit in their homes without paying anything, while the responsible among us aren't getting a fair shake.
  • Most Americans haven't seen their incomes rise in over a decade. But Wall Street and corporate executives continue to collect egregious pay and bonuses.
Instead of attacking the Fed, why don't our Republican leaders:
  • Bring the hammer down on the SEC. Force them to bring a massive number of criminal actions against the CEOs and Board of Directors who led the companies that brought our economy to its knees.
  • Penalize the people who walk away from mortgages and stop using our tax dollars to reward their greed and incompetence.
  • Focus on increasing the incomes of the middle class and pressure down the massive salaries on Wall Street and in the executive suites of Corporate America.
If Republicans would go after three issues, they'd wind up being allies with the Fed. The American people would be appeased. And our Fed would be more easily able to take the necessary actions that will allow our economy to recover.

But our state's US Senator, Richard Burr, he's a clueless dolt. The man hasn't spent a second thinking through why Americans are really pissed off. He's just blindly follows Mitch McConnell's lead. And right now, the blind are leading the blind in our Republican Party.

North Carolina deserves better than Republican Senator Richard Burr.

Republicans stand with China, against Ben

China has a Big Mac problem. A Big Mac hamburger only costs $2.17 in China. But it costs $3.71 in the United States. If you don't understand Economics, you don't have a clue why this single point is probably THE most critical issue that needs attention in our world economy.

Economists like to use the Big Mac index as a quick look at the relative value of currencies across the world. In theory, if currency exchange rates were freely trading, then the value of a Big Mac, expressed in US Dollars, would be the same in every country in the world. If they're not the same, then one currency is under or over valued relative to another. China's currency is vastly undervalued relative to the US Dollar. There are a myriad, and a very complex set of reasons why currencies would differ in value. But, in China's case, it's clearly evident. China manipulates their currency.

China's blatant and continual currency manipulation is causing massive problems across the world. It enables China's products to be cheaper relative to every other product in the world. China winds up exporting up the wazoo. As a country, they make huge export profits. To recycle these profits and keep their currency cheap, it is necessary for them to use the profits and buy foreign assets. In the case of the United States, China buys our nation's debt (Treasury Securities) in order to keep this scheme going strong. If this cycle isn't broken soon, then China will wind up owning just about every asset in the world, and everyone else will be poor.

Ask Senator Burr if he's aware of China's Big Mac problem. I suspect you'll be met with a blank stare. Our Senator is clueless when it comes to basic economics. Clueless people do stupid things. And right now, the damn dumbest thing coming out of Washington DC is that Republicans are standing with China in fighting Ben Bernanke, our Federal Reserve Chairman. Ben is the only American who is trying to fight China and solve the China Big Mac problem. But, if the ignorant Republican politicians in Washington DC had their way, China would own the world.

North Carolina deserves better than Republican Senator Richard Burr.

Wednesday, November 17, 2010

When's Senator Richard Burr going to report his 2009 financials?

I looked around but didn't see Richard Burr's financial disclosures for 2009. When's the man going to report? I suspected he'd be too chicken to report before the election. Poor Richard is clueless when in comes to finances. Bet you our Senator lost his tail in the stock market in 2009. It should be a hoot to find out.

Wall Street knows Republicans are full of shit

I tripped across an interesting read from a bond market trader:

"If we follow the Greek tragedy's storyline: a) Market realizes public finance are a complete joke b) a fiscal resolution is attempted c) the fiscal solution fails as the slowing economy choked by austerity lowers revenues and offsets benefits of entitlement cuts. Note that b) and c) should occur in several iterations until entitlement cuts are no longer tolerated and the country is forced to resort to default. We haven't even tried one yet, so pace yourself, and remember that higher yields in Fixed Income creates risk averse sell-offs in other asset classes which in turn create demand for US bonds as money seeks a safe heaven. That status of safe heaven is not just yet abandoned, even though it will be eventually."

The bottom line of his point - Republicans are full of shit. They will embark on a path of fiscal austerity. Sure, they'll reduce government expenditures. But the resulting revenue loss (more people out of work, higher social services costs, less income tax revenue collected, et al) will overcome the savings from the austerity. The net result will be a sinking economy. There will be an iterative effect that takes place over a long period. We cut, our economy sinks, scared investors move their money into Treasuries, repeat. At some point in the iteration cycle of cuts and sinking economy, investors will lose faith and flee American debt. Our economy will crash and burn.

This trader is in essence suggesting you have to be nimble. Stay with your investments initially into this process, but be prepared to get out. Then, bet big against America once its evident that investors are losing faith in the Republican austerity bullshit that will wind up sinking us into a hell hole.

Anyone else out there but me think that Wall Street bond traders wanted Republicans to take control for nefarious reasons? There is significantly more money to be made betting on the huge crash and burn, than in riding out the moribund fixed income markets that prosperity delivers.

Wall Street bond traders want the idiot Republicans calling budget shots so the traders can make a killing betting on failure. Welcome to America.

Warren Buffett speaks. Republicans close their ears.

Warren Buffett is being interviewed on CNBC right now about an op-ed piece he wrote in the NY Times today. The really interesting part of this conversation is what he's pointing out about our income tax structure. The problem we have in our country right now is that we're spending about 24-25% of our GDP in government expenditures. But, we're only collecting about 17 - 18% in taxes. We can't afford this gap.

Warren is pointing out that the IRS released tax data recently for 2008. He looked at the income reported by the top 400 income earners in our country. They averaged over $358 Million in income each. Counting both payroll and federal income taxes, these 400 highly paid people paid income taxes at a rate of about 16 - 17%. Mr. Buffett says he looked at his own tax situation for 2008 as well. He has no fancy tax shelters, and his total payroll and income tax bill came to about 16 - 17% too. But when he did this same math on every other person in his office, the average was over 30%. Warren makes the case that the very wealthy in our country need to be paying more taxes.

Why in the living hell can't we get a clue in our country? To the one, Republicans insist that the Bush tax cuts be extended for everyone. The rich wind up paying 16 - 17%. Middle class America pays over 30% (when payroll taxes get rolled in). How in the world is this fair? How in the world does this make common sense?

Yet, our Republican politicians like Richard Burr will stand there and insist that everyone gets an extension to their current income tax rates.

And we wonder why it is that our nation's finances are in a shambles? We're screwed because we put Republicans in office. Republicans who lack common sense when it comes to applying the tax code to the very wealthy among us. Republicans like Richard Burr.

North Carolina deserves better than Republican Senator Richard Burr.

Oh boy, more Republican CDS bullcrap coming down the pike

Here we go again. The Republican, Wall Street CDS casino is about to ramp back up and destroy the world economy. This time it won't be CDS bets on US sub-prime housing debt that sends shock waves reverberating through the world markets. It's going to be bets on Irish, Spanish, and Greek bank debt.

What am I talking about? Back in the late 90s, Republican Phil Gramm created a monster mechanism that allows anyone to place a bet on any debt instrument. Worse, anyone can underwrite that bet. There's no capital requirement. There are few regulations. There is no oversight. There is no exchange on which these CDS bets are traded. No one in the world has a clue who owns and who underwrote these bets. You could even wind up with unlimited bets against a small amount of debt. The debt going bad might be an insignificant financial event, but the bets going bad could cause financial armageddon. It's one hell of a forked up situation, brought to us by Republicans who believe in free markets. Republicans like North Carolina Senator Richard Burr.

These CDS bets brought us a $180 Billion taxpayer funded rescue of AIG. The morons at AIG went around the world underwriting bets on sub-prime housing loans. Although only $2 Trillion of these loans were outstanding, companies like AIG underwrote $25+ Trillion in bets against this $2 Trillion. AIG didn't have to put up any capital. They just went out there and underwrote the bets and collected the premiums. And when those bets blew up, AIG lacked the money to pay off. So, in walked the US Taxpayer. Yep, it's one forked up situation.

The worst part of this mess? Since there's no formal exchange and no formal capital requirements, not a single person in our world has a clue who is at risk on either side of these bets. So, when something being bet on has a likelihood of coming to fruition for payoff, there's no telling who is at risk of going out of business. In other words, your mother may have underwritten $6 Trillion in bets against Greek Bank Debt. She may have collected $500 million in premiums. That would explain her spending spree recently, eh? But when that Greek Bank debt goes bad, she'll be on the hook for $6 Trillion. You knew about that, right?

Here's the problem. Ireland is in financial trouble. The debt of Irish banks and the country of Ireland is about to go bad if someone doesn't step in and help. The European Banks are on the hook for $650 Billion in Irish debt. But no one has a friggin clue how much of this debt they have protected from loss by buying CDS "bets" against the Irish debt. And even worse, we don't have a clue who underwrote the CDS "bets" that the European Banks own. You might call a plumber tomorrow to fix your toilet, but find out he's out of business because he sold CDS protection to a European Bank, and now he's bankrupt.

This CRAP has to stop. The theory behind this financial instrument was that it would spread risk around the world. Instead, it spreads massive uncertainty when its evident that these bets will pay off in size. No one has a clue who winds up taking a financial hit. Every investor in every company even remotely connected to these bets winds up running for an exit. The cascading selling causes financial panic around the world. Our pension funds, IRAs, 401 Ks, 529s, Coverdales, and just plain savings wind up taking a hit. Confidence in our financial markets erodes. Confidence in our world economy erodes. Consumers pull in their horns. Recessions persist.

Republicans created this damn, POS financial instrument. It almost brought down the world economy when it got AIG in trouble, more than 3 years ago. And here we sit today and we're no closer to getting a resolution to this POS problem. Just WTF are our elected representatives doing in Washington DC about this crap?
  • Stop the casino.
  • Get rid of the betting parlor.
  • Put a complete halt to CDS instruments.
Or ....
  • Absolutely require that they ALL be traded on an exchange, and be backed by significant, tangible capital.
  • Require that all public companies owning or selling these instruments make full and complete disclosure of their CDS risks.
This issue is one of the most important among all that needs to be addressed. But no one in Washington is talking about it. Little is being done. And what little action is being taken is progressing at a snail's pace. But what should we expect? We elected a lawnmower salesman and sent him to represent us in Washington DC. Republican Senator Richard Burr is out of his league when it comes to critical issues like this CDS problem. The man is clueless. And he's getting nothing done.

When your savings go up in smoke, and you're reading about chaos in the world financial markets brought to us by CDS on Irish, Greek, and Spanish bank debt .... well, you have only yourself to blame. You sent a landscaper to Washington to protect us. He doesn't even know how to use a shovel.

North Carolina deserves better than Republican Senator Richard Burr.

Tuesday, November 16, 2010

QE2 Jackass Congressmen

The business shows this evening are full of Congressional idiots taking turns blaming Ben Bernanke and QE2 for what's ailing our economy. Never in my life have I witnessed a string of jackasses like I'm seeing this evening. I wonder, will these idiots come back on Investment TEE-VEE and apologize for being wrong when it turns out that our economy recovers, jobs are created, and inflation is at a reasonable level? That's the problem with jackass Congressmen. They never admit it when they're wrong.

That is one good thing I can say about our Senator Richard Burr though. He never appears on TV. He's too busy sleeping in his office and getting nothing accomplished. At least he's not making a jackass out of himself like so many other US Senators. Hey, don't say I never gave our Senator a compliment.

North Carolina deserves better than Republican Senator Richard Burr.

Don't let Washington get in the way of educational choice ... WTF?

I'm tired of all these bullshit commercials that private educational institutions are running on TV right now, asking us to contact Congress and direct them to stay out of choice in private education. These asswipes put the hard sell on naive people to borrow massive amounts of money to attend their institutions. For the very few who eventually graduate, they mostly find their degrees worth next to nothing. A large number of these graduates never obtain jobs that enable them to pay back their student loans. Our federal government guarantees most of this debt. It goes bad at an alarming rate. The American taxpayer gets stuck with the bill. And worse, the executives running these private institutions are sucking out billions in compensation.

My god, who's the fool here? Not me. These private education institutions can kiss my ass. If my Congressional representatives don't crack down HARD on the bullshit that goes on here, I'm going on a war path. We're already paying billions for sub-prime housing debt gone bad. Now we want to get stuck with billions more in bad education loans? I don't think so.

Watch and learn. Our idiot Senator Richard Burr will vote to support keeping government out of choice in private education. But our idiot Senator will continue to guarantee the debt that winds up paying 90% of the money going into the pockets of these POS, fraudulent degree printing shops. And the taxpayer will remain on the hook for a monster number of these loans that wind up going bad.

Stay out of choice in education? Well, OK. Stay out of guaranteeing loans too. But I don't expect our US Senator to apply this level of common sense. He's an idiot.

North Carolina deserves better than Republican Senator Richard Burr.

World economy gone awry

We have some pretty big problems happening right now in the world economy. There are 3 primary engines, and all three are sputtering. This post is just about one economic engine - China. More on the other two, later.

The primary sputtering engine is China. Their problem is inflation. China just reported annual inflation running at over 4%, and climbing rapidly. The worse part of it is food inflation. There are hundreds of millions of people in China who live in poverty. These poor folks simply can't afford climbing prices, especially for food. The fear is that inflation will lead to social unrest, and a massive mess will ensue. Can you imagine hundreds of millions of people marching on China's capital to overthrow their government? The leaders in China live with this potential nightmare. Its in the forefront of their mind, always.

If China was acting in the best interest of the entire world economy, they would focus on their inflation by adjusting the exchange rate of the Yuan. If they allowed the Yuan to strengthen, that would choke off some export activity, allow for more slack in their economy, and relieve the pressures causing the rising prices. That tactic would help the rest of the world too. All the rest of us would stop choking on cheap Chinese products. And we'd be able to sell more goods into China. But, the Chinese leaders are stubborn. Instead, they are raising their interest rates. Normally, that would enable their currency to also strengthen. But, since capital flows into their country are restrictive, their currency will likely not budge. Not much good will come of their efforts.

It gets even worse. Not only are the Chinese not operating in a manner that would enlarge the economic pie for the entire world, they are trying to blame Ben Bernanke and our Federal Reserve Board's quantitative easing actions for causing their problems. Well, duh. Ben is doing what needs to be done. America needs to force China to act in the best interests of the entire world. We need to force China to allow their Yuan to strengthen. And Ben knows that forcing inflation into the Chinese economy will eventually break their backs and force action on the Yuan. He won't admit it. But he knows it. And he knows his actions may well lead to actions on the Yuan. No one else has been successful in jawboning China into taking action on the Yuan. And Ben is our final and best hope on this front.

So, what does our Congress think about all this? Those idiots, including our US Senator Richard Burr, stand with the Chinese. They are all attacking Ben. They are all standing around and blaming Ben for everything going awry right now. Give it time. Ben will be right. Congress will be choking on crow. The bottom line though, our US Senator is an idiot. Our Congress is full of idiots. Elect an idiot, and you get an idiotic economy. But Ben is going to rescue us from the idiots.

North Carolina deserves better than Republican Senator Richard Burr.

Congress to the rescue

Today we're seeing Congressmen tripping all over each other. They're coming out of the woodwork to introduce legislation to end the Fed's dual mandate of keeping inflation in check and also maximizing employment. Congress doesn't like the maximizing employment part of that mandate. So my dumb question is this ... if we don't want the Fed in charge of trying to steer our economy so that Americans have jobs, who's going to be responsible for maximizing employment? Congress?

Watch out. Here comes a 20% unemployment rate.

The Ben Bernank

Can't say I agree with it, but this is the funniest video I've ever seen. You need an understanding of finance, trading and economics to get the humor in this clip.

Saturday, November 13, 2010

F*ck President Barack Obama. The man is worthless.

I am a Republican. But I supported Barack Obama in the last election. And also supported him since he was elected, until yesterday.

F*ck President Obama. He's a failure. And it irritates the crap out of me.

It's the financial issues that have me so irritated at our President. Wall Street Bankers almost brought down our entire economy. But did any of them get punished? Did any of them have to pay back the egregious compensation they collected while wrecking their companies and almost destroying our economy? Hell no. And it's President Obama's fault. He sits on his ass and does nothing about bringing to justice those who screwed our nation.

And how are we going about repairing the damage done to our economy? We're executing on a strategy of holding down interest rates, egregiously enriching the very bankers who delivered this mess to our doorsteps. They borrow from the Fed at next to nothing and invest all day long in risk free US Treasury securities, collecting big profits and massive bonuses. All the while, these low interest rates are punishing the responsible among us who try to save. We're paid next to nothing on our savings, while bankers grow rich. And when we need to borrow, we have to turn to the very Bankers who screwed us. They lend to us at outrageous rates relative to the rates our tax payer supported institutions lend money to them. It's just insane. The irresponsible get rewarded. Hard working, responsible Americans continue to have a boot on their neck.

And now, we've got quantitative easing headed our way. Paper assets and commodities are being bid up across the board. The rich grow richer, while middle class America, with their wealth primarily parked in depreciating homes, suffer mightily.

And the gap between rich and poor continues to grow by the day. Shareholders still don't have the power to put a stop to egregious corporate pay. The rich in our country continue to pay 15% income taxes on their vast investment wealth while the working stiff, making significantly less, pay taxes at significantly higher rates. Stock options act as a continual erosion of our pension wealth. High frequency traders pick away too, with equal consistency. And the SEC continues to sit on its lazy asses and accomplish absolutely nothing to put a halt to all this theft perpetrated on middle class America. The game is rigged. And our President has not lifted a finger to address one damn thing to level the playing field. And now, we're learning our weak President intends to cave and allow tax cuts to also be extended to the wealthiest among us. We're simply saddled with a loser for a President.

So, why did it take until yesterday to get me irritated enough to turn my back on this loser? Our President is weak. He went to the G-20 meeting and had his head handed to him. He stood there and allowed the world to laugh in his face. His pathetic attempts at getting China to stop pegging the Yuan to the dollar were the straws that broke the camel's back. I am just damn tired of waiting for our President to grow a backbone and get aggressive about solving problems and punishing those who created this mess in the first place. Enough. I've simply had enough.

I'm with Charles Ferguson, President Barack Obama is nothing more than a Republican in sheep's clothes. F*ck him. I can't wait until the next election. I'm looking forward to participating in the effort to kick his sorry tail out of the White House.

My attitude toward Republican Senator Richard Burr has not been altered though. Not a bit. Our Senator delivered this economic mess to our nation. He's a worthless, POS, mental midget.

North Carolina deserves better than Republican Senator Richard Burr.

Friday, November 12, 2010

What needs to happen to save the world?

Our world economy is headed into the sewer. It may not look that way to you now. But it will, soon.

Two things need to happen to prevent the pending return to the dark ages:

1. China needs to drop its peg to the dollar and allow its currency to float.
2. The Euro needs to bite the dust.

Both China and Germany are screwing the world economy. Republicans, especially the nut case Tea baggers, may be raising hell about it, but our Federal Reserve Board is taking the best action possible to pressure China and Germany to act in the best interests of the world. There isn't a Republican politician out there who has a clue about what's happening on this front. If Republicans were in control, they'd be ignorantly hastening the coming crash.

Our Senator Richard Burr? He's just trying to catch a couple hours of nap time before his next run to the ATM Machine. Then, before he goes back to sleep, he'll blame Democrats again for cutting $500 Million out of the Medicare program. God knows, we don't want to do anything to balance our budgets, eh Senator Burr? But economic issues that threaten our world? Senator Burr has no time for such burdensome issues.

North Carolina deserves better than Republican Senator Richard Burr.

Republican plan to bankrupt the middle class now well underway

Welcome to the new economy. If you're wealthy, you'll thrive. If you're middle class, you're screwed.

This is the new Republican economy:

Food prices - through the roof
Energy prices - through the roof
Clothing costs - through the roof
Medical costs - through the roof
State and local taxes - through the roof
College tuition - through the roof
Value of paper assets owned by the wealthy - through the roof
Take home pay of the middle class - stuck in the mud

Thank Republicans. In anticipation of the Republican takeover in Congress, our nation's financial traders knew that fiscal policy would go nowhere. The only avenue left to help our economy would be monetary policy as executed by the Federal Reserve Board. The Fed is flooding the markets with liquidity. Traders anticipating that rush of liquidity are pushing up prices everywhere. The winners are the wealthy. They own the assets.

So, if you're middle class and living hand to mouth, or about the only asset you own is your home, well, you can thank the election of Republicans for your financial pain. And if you're middle class and voted Republican, you have nowhere to look but in the mirror. You are to blame. If you want to complain, find the nearest mirror.

North Carolina deserves better than Republican Senator Richard Burr.

One dire outlook on the economic front

If this unfolds, our society will go up in smoke.

If it happens, it will be pinned on President Obama and the Democrats. In reality, it was the Bush Republicans who caused this crap. They cut taxes with reckless abandon, used their "ownership society" theme to push idiots into home ownership, failed to provide adult oversight of the lending industry, waged unfunded wars, and spent money like there was no tomorrow. Republicans are too blame for our economic mess.

The vast majority of America are clueless as to who delivered this pain to our doorstep. It was Republicans. It was Richard Burr. Republican Senator Richard Burr played a huge roll, voting with George 94% of the time. Our mental midget of a US Senator helped create this mess. Richard Burr contributed mightily to our nation's pain.

North Carolina deserves better than Republican Senator Richard Burr.

Thursday, November 11, 2010

Prepare yourself, here comes the violence

Do you see the protests in the UK yesterday? The UK government took an axe to their budget. They are firing a massive number of public employees and hiking fees and taxes across the board. One of the outcomes was an almost tripling in university tuition. It went from something like $5 K a year, all the way up to $14 K. Stunned students got violent.

Prepare yourself. That violence will be commonplace in the United States within the next couple of years. It's one thing to want austerity, walk into the voting booth, and pull the Republican lever. It's another to find out your social security is getting chopped, your medicare capped, your tax bill dramatically hiked. But its coming. And you're going to be shocked at how sever your pocketbook will get hit. You'll get mad. And you'll hit the streets in protest. It will get out of hand. Rocks will fly. Windows will break. Cars will overturn. And we'll be well on our way to another revolution in our country.

Watch. Learn. It's going to happen.

You'll have no one to blame but yourself, and our Republican Senator Richard Burr. The Republican philosophy of nothing but tax cuts, tax cuts, and more tax cuts brought us to this point. And you were dumb enough to drink the kool-aide and egg on our Republican Party in acting irresponsibly.

North Carolina deserves better than Republican Senator Richard Burr.

Wednesday, November 10, 2010

Erskine Bowles fails us, again

Erskine Bowles failed us again. President Obama appointed Erskine to co-head our nation's deficit panel. Today Erskine announces a draft plan that can't get the necessary agreement from among the 14 panel members. And he's even admitting that it's a non-starter in Congress. And although President Obama tasked Erskine's panel with delivering a plan that balances the budget in 2015, Erskine comes up $300 Billion short. It's really a sad situation.

I have to laugh at this pathetic plan. It's a typical Republican plan. The tax rates on the very wealthy get cut the most. And the primary deduction that benefits middle class Americans, the home interest expense deduction, gets totally eliminated. Stripped down to the basics, its a plan to cut taxes on the wealthy and increase taxes on the middle class. Judd Gregg is pounding his chest and calling this plan a winner, which means that Erskine allowed himself to get steam rolled by Republicans. The Republican wealthy win again.

Erskine Bowles is another in a long, long line of disappointing North Carolina politicians. The man was asleep at the wheel while administrative expenses went through the roof at our state's public universities. He failed miserably in controlling costs across all levels of our university system. As a result, we experienced a massive tuition rate increase last year and I fully expect many more in the near future to pay for Erskine's terrible mismanagement of our universities. And now, he's failing us again, on the national level. We just can't win.

Bowles, Burr, Edwards ... it's pretty sickening at how our state continues to send sorry people to Washington DC as representatives from North Carolina.

North Carolina deserves better than Republican Senator Richard Burr.

Wall Street screws the taxpayer, again

This is what Republican Senator Richard Burr's laissez-faire capitalism delivered to American taxpayers:

Wall Street collects $4 Billion from taxpayers as swaps expire

What are swaps? They're overly complex bets on interest rates. So complex that there are only a handful of financial engineers who really understand how most of these instruments work. Most of the people selling them were clueless as to how they worked. Most of the local, state and non-profit leaders buying them were absolutely clueless too.

But our state's Senator didn't lift a damn finger in all his years in office to stop this crap. And we paid the price for Richard Burr's almost religious fervor for laissez-faire capitalism. We elected an economic and financial dolt to represent us in Washington DC. And we're paying the price.

North Carolina deserves better than Republican Senator Richard Burr.

Richard Burr's stance on private education

I'm a capitalist. CPA, MBA, securities trader. Both of my business degrees are from schools recognized to be among the very best in our nation. But I'm not a fan of laissez-faire capitalism when it comes to a few key industries. I think capitalists need to stay the heck out of health care, housing finance, and education.

There's an interesting article this morning in Business Week magazine that reminds me why it is that I so hate how capitalists have raped our nation in the education field. Read the article, it'll make your blood boil. Here's a couple paragraphs to give you a flavor:

Top executives at the 15 U.S. publicly traded for-profit colleges, led by Apollo Group Inc. and Education Management Corp., also received $2 billion during the last seven years from the proceeds of selling company stock, Securities and Exchange Commission filings show. At the same time, the industry registered the worst loan-default and four-year-college dropout rates in U.S. higher education. Since 2003, nine for-profit college insiders sold more than $45 million of stock apiece. Peter Sperling, vice chairman of Apollo’s University of Phoenix, the largest for-profit college, collected $574.3 million.

Education corporations, which receive as much as 90 percent of their revenue from federal financial-aid programs, are “private enterprise that’s almost entirely publicly funded,” Henry Levin, director of Columbia University’s National Center for the Study of Privatization in Education, said in a telephone interview.

This will be our next financial crisis in our country. The education debt on the shoulders of our young people, backed by the taxpayers of our nation, will wind up costing us dearly. And a very few capitalists will make out like bandits. Then, they'll take their riches, and invest with hedge funds who only pay 15% taxes, while all the rest of us have to pay significantly more.

My Republican Party really sucks when it comes to common sense. What's happening in private education does not make common sense. What's happening in so many facets of our society don't make common sense. But this stuff is happening because it has the support of Republicans. And our Republican Senator Richard Burr, with his across the board laissez-faire attitude, is one of many current Republicans screwing our nation royally.

North Carolina deserves better than Republican Senator Richard Burr.

Tuesday, November 9, 2010

Bush is an 'effing moron

George is out with a book. He has no regrets. Typical, modern day, 'effing Republican politician.
  • $1.4 Trillion spent on wars, and we got what?
  • Nation's debt up by $8 Trillion.
  • World economy almost crashes.
  • $50 Trillion in world wide wealth wiped out at economic crises peak.
  • Out of control unemployment.
  • Homes losing value by the second.
  • Food stamp program hits record after record.
And Republican George Bush has no regrets.

George thinks when we look back in history, we'll appreciate his accomplishments. Errr, what accomplishments?

The man is an 'effing moron. Always has been. Always will be.

North Carolina deserves better than Bush Republican, US Senator Richard Burr.

Desired vs Delivered

Voters brought back Republicans.

Voters wanted:
  • A better economy
  • More jobs
Voters will get:
  • Significantly watered down oversight of the financial industry.
  • An even worse health care mess.
  • Egregious Wall Street Bonuses.
  • Outrageous Corporate Executive Pay.
  • Rich getting significantly richer.
  • The middle class getting the continued shaft.
  • Higher income taxes.
  • Higher energy costs.
  • Higher unemployment.
  • Continued budget deficits.
Watch and learn. We are going to get what the ignorant least expected when they pulled that Republican lever. We are going to get what we now deserve.

Invest accordingly.

North Carolina deserves better than Republican Senator Richard Burr.

Monday, November 8, 2010

The Republican Brain

The Republican Brain, Sarah Palin, is now running around the country telling everyone that Ben Bernanke is nuts to embark on $600 Billion in quantitative easing. I continue to shake my head in amazement at how our country could back today's Republican Party. If given the choice between a Princeton Phd who was one question short of a perfect score on the SAT, and a woman who's a trailer park queen, I'd take the former. But most of America wants to follow the trailer park queen. God, please help us.

Sarah Palin and Richard Burr. Wouldn't that be a hoot for the Republican ticket in 2012? Dumb and Dumber.

North Carolina deserves better than Republican Senator Richard Burr.

Sunday, November 7, 2010

Thanks to Republicans - America is a Banana Republic

Thanks to the Republicans, like Richard Burr, America is now an official Banana Republic. (An even better view here.)

Endless tax cutting has pushed wealth and income to the top 1% of our nation, while saddling all of America with massive debts. Republicans have effectively shifted massive wealth and income from all citizens, right into the pockets of the top 1%.

I want to be a loyal Republican, but I can't support my party when it runs massive deficits at the expense of the middle class, while shifting massive wealth and income to a very few. My party needs to wake the hell up. We need to shift wealth and income back from the top 1%, to pay down our nation's debt. That's why it's so very important to adjust our nation's tax structure. Raise taxes at the top, means test social security and medicare, take an axe to all spending (including defense). Balance our budgets. Stop incurring debts while the top 1% continue to live in ungodly mansions, fly in their G-5s, and easily send their children to $50 K a year private educational institutions ... while the middle class sees consistent erosion in their incomes.

Wake the hell up Richard Burr, you worthless, POS, good for nothing, laissez-faire loving, mental midget. Stop lying to the middle class. Stop lining the pockets of the rich. Stop piling debt on our nation. Do your damn job. Balance our budgets. Make those who can pay ... pay through the nose ... to set our nation on a path of fiscal responsibility. Get out from underneath your desk and get something done for once in your life.

North Carolina deserves better than Republican Senator Richard Burr.

Thursday, November 4, 2010

The Republican attack machine risks damage to our economy

DRUDGE is the master of the Republican attack machines. That website generates a massive amount of traffic. And its very heavily tilted to Republicans. In fact, it goes way overboard in making Republicans look good, and making Democrats appear to be equivalent of the evil empire. Drudge bends the truth, constantly. And in doing so, it does a tremendous disservice to America, and damage to our economy.

A case in point is the primary headline as I type this post: "BACKLASH BUILDS AGAINST FED PUMPING". That headline makes it appear as if the FED's recent move to execute on $600 Billion of addition quantitative easing for our economy is something evil that needs to be stopped. That's simply not true. But I suspect Drudge won't stop pushing this point. The Tea Party will be up in arms. And the vast majority of the politicians in Washington, who are mostly clueless as to how economics works, will wind up raising hell and trying to stop the FED's efforts. That hell raising will be led by idiot Republicans. Oh boy. We gave the keys to the asylum to the idiots. Now we're going to pay a terrible price.

Follow the Drudge headline to the underlying article. The pressure building is coming from foreign central banks. Of course they're mad. Our FED's easing will wind up putting pressure on their currencies. Our dollar will weaken. Their currencies will strengthen. That will make our nation's products more favorably priced in the international markets in relation to their products. Our economy will get a boost. Their economies will be hurt. And that's what should happen right now. But the other countries are mad about it and doing their best to stop our efforts.

Of course they're mad. That money our FED is injecting into our economy is finding its way into other countries. That foreign investment pumps their economic activity, which is already overly strong in many cases, and causes inflation for them. They should allow their currencies to get stronger to combat that inflation. That would kill off some of their exports and relieve those inflationary pressures. But in that process, that will wind up putting their citizens out of work and hurting their businesses. So, they resist. And they do exactly the opposite of what they should be doing. They fight back by taking their country's financial resources and buying our debt in an effort to keep their currencies weak. Our FED's moves are causing them to have to buy more of our debt. That compounds both their problems, and ours. But their actions distort the currency markets by causing a massive distortion of international trade balances. The end result is a currency war that harms everyone.

But, we must re-balance world trade. America runs a massive trade deficit. The countries doing all the complaining run massive trade surpluses, and they would like it to stay that way. But it can't. If we run deficits for a number of years, we have to reverse course and run surpluses eventually, so it all evens out over longer periods of time. If that reversal can happen now, our exports will increase, our economy will improve, more Americans will find jobs. And that's why our FED must do what it is doing. And that's why its important for those other countries to stop their complaining and stop their interference in the currency markets. If they would simply stop buying our debt, the re-balancing of international trade can take place through the free market adjustments to world currencies.

But DRUDGE? Their irresponsible painting of the FED's actions runs the risk of firing up the mob of ignorant people in our country. God help us if the DRUDGE inspired ignorant hordes are successful in putting a stop to the FED. If that were to happen, our economy would crash and burn to the point that there would be no bottom to the unemployment rate in America.

Stop reading DRUDGE. Stop electing idiot Republicans who consistently prove they know nothing about economics. And Richard Burr, he's a clueless dolt on the economics front.

North Carolina deserves better than Republican Senator Richard Burr.

Wednesday, November 3, 2010

2010 Election Postmortem

It was a blowout. North Carolina voted to send our dolt, Senator Richard Burr, back to Washington DC. On the one hand, I'm horrified. On the other, I'm pleased with the opportunity to dog our do-nothing Senator for six more years.

This blog rocks on, for six more years !

A list of post election observations:

1. Burr is an empty suit. MSNBC, FOX, CNN, CNBC ... I listened to them all at one point or another last night. As it became evident that Republicans won in a landslide, talk turned to who would control what committee in Washington DC in the coming term, and who would be in positions of power and influence. You know something really interesting? Not once did I hear Senator Richard Burr's name mentioned on any of the major networks. Not once. Why? Because we sent a lawn mower salesman to represent us in Washington DC. Richard Burr is not a leader. He has no expertise. He's a nobody in Washington DC. After 15 years of serving in Congress, we have a Senator who leads nothing, is recognized only as an empty suit. I shake my head in amazement that North Carolina voters could do this to our state.

2. Danger in misinterpreting the results. There's too much gloating going on by Republicans. And many are in danger of misreading the results of this election. I hear Republicans today constantly spouting off about the need to overturn the progress made on both the health care and financial reform fronts. Go ahead Republicans, do it. Fight it out. Voters want jobs and a good economy. They don't give a damn about anything but jobs and the economy. Waste their time with fights over health care and financial reform and you'll jump right back into boiling water.

3. Republicans continue to display ignorance of basic economic issues. If I hear one more ignorant Republican talk about needing tax cuts to spur capital formation, I'm going to scream. These people are idiots. Our problem is that we're awash in capital. We've got investors throwing money at our country to buy our Treasuries to such a point that interest rates are at historical lows. Capital is NOT our problem. Consumer demand is THE issue. Most Republicans just don't get it. They'll cook up any excuse to dish out more tax cuts. Go ahead, give an unemployed person a tax cut and see how far that takes us in getting our economy back on track. You can't cut taxes on a guy who has no income. Republicans crying about capital formation are idiots.

4. Republicans will fail in reconciling promises. Republican after Republican talks about out of control government spending and the need to balance the budget in one breath, and the need to extend tax cuts to everyone in the next. Then they'll spout that tired line about how government spending doesn't create a single job. This is going to be fun to watch. Go ahead, cut taxes, balance our budget by cutting $1.1 Trillion in spending, and watch how that won't lead to anything but appreciably higher unemployment. It's about time that BS gets called on Republican whining about deficit spending, job creation, and tax cuts. Those three issues can't be reconciled the way Republicans portray. An economic mess awaits. Watch and learn.

5. Mitch spews hate. Would someone please remove the giant corn cob from Mitch's butt? Fresh off his victory parade, Mitch comes out swinging for President Obama. Mitch spews an abundance of hate and vitriol. Any man with common sense could only conclude Mitch is a Grand Dragon of the KKK. Check out Mitch's shoes. And look carefully at the shoes of the banner bearer in the next KKK march you see coming down main street in any rural town in Kentucky. Mitch? Is that you Mitch? Mitch McConnell stands in the way of progress in Washington DC. If anything is going to get accomplished "for the American people", then Mitch first needs to have his ego checked. And the man needs to just tone it down.

6. Eric Cantor takes a good first step. While I'm not wild about Eric's desire to revisit history and unravel the progress on Financial Reform and Health Care, I admire his management skills. The guy has published a 22 page road map. And it includes steps to manage the House in a manner that would gain respect from management teams of some of our nation's better run corporations. His rhetoric though leaves much to be desired. He's not near as bad at Mitch McConnell, but Eric still comes across like an arrogant SOB who you'd rather not want to associate with. If he toned it down a couple notches, Eric might wind up accomplishing great things for our country. He's a keeper.

7. Boehner is a woman. There's no crying on Capital Hill. There's simply no crying in national politics. Boehner cried in front of the nation in his first major appearance as the leader of the House. He blew it. This man is a weak. His days are numbered.

8. The Republican attack machine cranks up. I think a large part of our nation's problems derive from the Republican attack machine. It's relentless, it's mean spirited, it spews hate and fear. And its cranking up again. Just check out the headlines on Drudge:
  • Barack backed into the corner
  • Next up for Dems: Trials
  • Dems warned not to shred documents
  • Fed under attack from GOP
My Republican party is in dire need of a positive message. They're mostly mean spirited old white men who do a great disservice to our nation through the hate and fear they constantly spew. And if they continue down this path, the progress they just made will get reversed in the next election.

9. Jack Welch has it right. Jack Welch, the former CEO of GE, is guest hosting CNBC this morning. Jack is a staunch Republican. He's crying out for the Republican party to change its tactics, dramatically. The voters just delivered a message of Jobs, Economy. Recognize it and deliver. Form a message around these two issues. Focus like a laser beam. Stop with the efforts to repeal everything that has already been done. Instead, look to improve and adjust with a goal to creating jobs and improving the economy. Jack indicates that the party runs the risk of being labeled right wing nut jobs if they continue with their efforts to repeal the past, instead of focusing on the future and directing all their efforts to jobs and the economy. I can really relate to Jack. I want to be a Republican again, when my party stops with the right wing nut job attitude and refocuses on becoming a party of problem solvers. I don't see it happening though.

more to follow, later ...

Tuesday, November 2, 2010

Republican against Republicans

I end this blog in the current election cycle exactly where I began it 19 months ago, with this post:

Yesterday was a day of working around my house. It's spring and spring always brings on chores. I enjoy it because it gets my mind off issues like the economy, the financial markets, and politics. That reduces my stress levels, which is something I need.

But then, a neighbor walked over and we talked. Mistake. He's a die-hard Republican. I am too. But lately, I straddle the fence, generally hating both parties. But he sent my stress levels to the roof with a constant pounding on Barny Frank, Nancy Pelosi, Harry Reid, and John Kerry. It's their fault. Everything's their fault.

A typical Republican.

I have to tell you, I'm just flat tired of hearing Republicans talk about our nation's problems. The Republican Party IS OUR NATION'S PROBLEM. These people were in control of the White House for the last 8 years. They were in control of Congress for 6 of the last 8 years. It was a total break down in government oversight and regulation that brought us to this point. And that was the Republican's fault. They were in control. I have a message for all Republicans out there who want to mouth off about Democratic leaders:

Just shut up.

Republicans did nothing about energy spiraling out of control. They did nothing about education costs that bankrupted families, and piled debt onto the shoulders of our young people. They did nothing about health care costs that were the single biggest factor in personal bankruptcies in our nation. They did nothing about the 45 million Americans without health care coverage. They did nothing about our broken education system. They sat on their asses while wealth concentration hit historical proportions, while the middle class suffered. They doubled our nation's debt by piling another $5 Trillion to the shoulders of our children. They were directly responsible for putting a leash on the SEC to the point it was a broken, toothless, total waste of money.

But Republicans were an accomplished party on some fronts. They made the rich even richer. They prided themselves on increasing home ownership to record levels, and we know how that worked out. They started wars. They spent money like drunken sailors. They allowed our investment banks to leverage up to 40 to 1. They stood in the way of the Federal Reserve providing adult oversight to the mortgage lending industry. And I could go on and on.

I am a Republican. I so deplore how irresponsible my party has been that I don't have a single kind word to say about my party or any of it's leaders. And I'm not a fan either of the Democratic Party. However, I'm smart enough to know who's a fault for this mess. Republicans. And I am smart enough to know that the only answer right now is to give the other guys a chance. And that means we need to push out of office every damn Republican who served during the Bush administration. Every single one. We need to give the other guys a chance to do better. And they need at least 8 years before we start giving them grief.

It was our fault. We screwed America. The Republican Party is to blame for this mess. And Nancy Pelosi, John Kerry, Harry Reid and Barney Frank deserve our silence right now.

So, a message to fellow Republicans:

Just shut up.

North Carolina deserves better than Republican Senator Richard Burr.

Senator Richard Burr is not a North Carolinian

I flipped on the news last night. When I watch news I usually tune into Channel 14 in Raleigh, which is the time warner local news. I flipped to channel 14. There he sat. Our Republican Senator, Richard Burr, was giving a sit down interview. And I almost fell out of my chair at his responses.

Our Senator is not a North Carolinian. He doesn't related to our State. He's been in Washington DC so very long now, that he thinks of himself as an arm of the Federal Government. That was clearly evident from his interview. Senator Burr kept referring to the people of North Carolina as "THEM". Did you catch that? I did. He did this over and over again. Our Senator is not one of "us". Our Republican Senator is simply not a fellow North Carolinian.

It's our Senator who is now one of THEM. He's an agent of our Federal Government. He's a resident of the District of Columbia. His life is now in Washington DC. He no longer relates to North Carolina.

Boy, did that ever piss me off.

I decided last night that I'm voting for Elaine Marshall. Elaine is one of US. I suspect Elaine will always be one of US. I just don't think Elaine will ever be the type who comes to think of the people of North Carolina as a THEM.

So, after nearly two years of pounding out posts for this blog on a myriad of issues, but primarily centered around economics and our financial markets ... for me, it comes down to something far more simple. THEM versus US.

To Richard Burr, the people of North Carolina are THEM.
To Elaine Marshall, the people of North Carolina are US.

I'm voting for US over THEM. I'm voting for Elaine Marshall.

Richard Burr can take his THEM attitude and stick it where the sun doesn't shine. This man has failed America and the State of North Carolina on a number of fronts. But his worse sin? To Richard Burr, the people of North Carolina are "Them".

North Carolina deserves better than Republican Senator Richard Burr.

Monday, November 1, 2010

Republican Chris Cristie - 2012

I'm leaning now to Chris Cristie (The Republican Governor of New Jersey) for President in 2012. This man eats nails for breakfast and kicks ass for lunch. Although I continue to mostly like President Obama and the job he's doing, there are just too many issues with him that rub me the wrong way:
  • Suing Arizona over illegal immigration was insane.
  • The health care legislation failed on the cost cutting front.
  • Shareholders still don't have enough of a voice to put a stop to egregious CEO pay.
  • Our economy almost crashed, we lost Trillions in wealth, yet nobody from Wall Street got dressed in orange jump suits.
  • Aide to homeowners to slow foreclosures only rewards the irresponsible.
  • That stop to offshore drilling? It was stupid. It cost us jobs.
  • I got sick of all the vacations. While America burned, Barack and Michelle went on vacation.
  • Finally, he failed to punish Bush Republicans.
Make no mistake, I still think North Carolina Republican Senator Richard Burr needs to have his sorry tail kicked out of office. This man was there. He was there while America's economy nearly burned to the ground. He lit the match. He's to blame for this economic mess. And its a pathetic situation if we reward this mental midget with another term in the United States Senate.

I'm a Republican, but Republican Richard Burr will NEVER have my support.

North Carolina deserves better than Republican Senator Richard Burr.

I live in a Republican neighborhood

Halloween was a miserable experience. I stayed home and handed out the candy while my wife and child participated in the door to door activities. I usually like staying put and having all the kids decked in costumes parade by our house. But last night was a real downer. It reminded me of our nation's political landscape.

The vast majority of the children in our neighborhood were just plain rude. We gave out the big candy bars. And I had a tray full of various types. I'd ask the children to take one, they'd grab for more. The boys would push the girls out of the way. Kids would rush the door, almost knocking me down a couple times. I heard few Happy Halloweens and even fewer Thanks Yous. A number of children trampled across our yards, instead of using the sidewalks. And there were parents standing outside encouraging little Johnny to mow down the landscape in an effort to make it to more houses. It was disappointing and discouraging. I live in a Republican neighborhood with little Republican children.

You know who these kids really remind me of? Tea Party nuts. They complain about government. They complain about taxes. They complain about spending. They complain about everything. Then they go home to their homes bought with Government subsidized loans, or debt forgiveness. They collect social security or unemployment. They get free health care via Medicaid or Medicare. They buy their groceries with food stamps. They pay little to no income taxes. They haven't served a day in our military. These people know only how to take. And they're not grateful for anything. Just like the vast majority of the little Republican children who came to my door last night.

I now know what the answer is. Give them what they want. Allow the Tea Party and Republican nut jobs to take over our Government. They'll cut taxes on the wealthy and continue massive deficit spending. Eventually, it'll drive our nation into bankruptcy. A few wealthy people will survive and thrive. The vast majority of Americans will suffer mightily. The Tea Party and Republican nut jobs will get what they deserve, while also delivering major hurt to the rest of America.

And the little Republican kids in my neighborhood? Next year I'm giving out penny gum, and only after I hear Happy Halloween and an ample number of Thank Yous.