Sunday, December 11, 2011

Articles worth a read, December 2011



Merry Xmas, will be back again next year

12/13 America: Income inequality
12/13 Burr: Sucks up to Corruption
12/13 Rich: Do not create jobs

12/12 Jobs: Come from demand, stupid
12/12 Burr on Gingrich: Too funny
12/12 Michael Moore: Obama in Wall Street pockets

12/09 Wall Street: Common sense sighted
12/09 Companies: Making > profits, paying < taxes
12/09 Coming financial debacle: No place to hide

12/08 Medical costs: $250 M on penis pumps?
12/08 Rich undertaxed: Pisses me off the most
12/08 Obama: About damn time

12/07 The rich say: Tax the poor
12/07 Fight: Beck vs. Gingrich
12/07 Romney: What's he hiding?

12/06 Tax Increases I: Will not harm economic growth
12/06 Tax Increases II: Will not harm economic growth
12/06 Tax Cuts I: Do NOT lead to economic growth

12/05 Tax Cuts II: Do NOT lead to economic growth
12/05 Financial crises: 2007 - 11 Timeline
12/05 Yet another: Republican Crook

12/02 Republicans: And racism
12/02 Republicans: Are just effing stupid
12/02 Jobs come from: Demand

12/01 School free lunch: Soaring
12/01 Arrests: We need these in USA
12/01 Newt: Lies, lies, more lies 

NOVEMBER

Thursday, December 8, 2011

Indiana finds money

Strange, but true.  An internal auditor in the State of Indiana was tracing a $25,200 check through the state's accounting system,  and just plain bumped into $320 Million that was just lying around,  unnoticed.   Found money.

Wonder if Republicans can find that $1.5 Trillion they pissed away on wars?  Maybe if they looked in the couch cushions up on Capital Hill ....

@SenatorBurr - Will Republicans cause the next major financial market plunge?

News out near the market close indicates that Euro stress tests require Banks there to raise an additional $150 Billion in capital.  They have until Jan 20 to inform their respective country regulators as to how they will meet the target.   And they'll have until June 30th next year to make it happen.

To meet these requirements,  they could attempt to issue new securities.  But given that their stocks have been trashed,  and their survival is in question,  I doubt that route will be available to many.  More than likely,  they will be forced to sell assets.   That has me scratching my head though in trying to figure out what this means in assets being dumped on the market over the next six months.   It all depends on capital ratio targets,  and which of the assets they'll be selling.  I keep reading that Euro banks are in sorry shape because they are leveraged 40 to 1.  Presumably they are being required to bring that ratio down appreciably to meet new Basel requirements.   But,  to what levels,  and when?   That's what will determine the extent of the asset sales necessary.

Here's my matrix on asset sales needed to achieve given leverage ratios.  And this assumes that the sales are being made to only meet the $150 B stress test requirements.  There may be additional sales needed for Basel requirements,  but likely the stress tests assumed also bringing ratios in line for Basel.  I hope.



I hope this is a situation where we're only going to see somewhere between $1.80 - $3 Trillion in assets hitting the market.  Not sure where the hell we're going to find that kind of capital to soak up the supply.   I can't even begin to imagine the pressure on the markets if significantly more than $3 Trillion must be shed over the next 6 months.

Wish I had a better handle on this issue.  More importantly,  wish I knew what kind of potential pools of capital were out there to absorb this selling.   Must keep in mind too all the sovereign debt hitting the markets in the coming year given the deficit spending that is happening worldwide.

I just don't see how the world financial markets are going to make it through 2012 without getting really clocked.   When supply exceeds demand,  price must come down.

Then again,  US banks are flush with excess deposits,  and don't have enough outlets to put that money to use.  As a result, they have Trillions sitting at the FED,  earning next to nothing.  If Ben were to push that money into the arms of assets being shed off the balance sheets of Euro banks,  at favorable prices ... that could help tremendously,  both Europe,  and US Banks.  AND,  if Ben could also come in with Q3 to put another $500 B to $1 T in capital out there ... the world might slide by this major Euro Bank asset dump.

I can hear the uproar from the idiot Republicans in Congress though.  Those clueless clowns are blind to the risks these assets dumps have to the net worth of American households.  They'll stand in Ben's way,  the world mkts will plummet,  and Americans will see Trillions more of their savings go up in smoke.  Watch it happen.  And remember that I warned you about the idiocy of Republicans challenging the actions of our Federal Reserve Board.

I hope Ben has a plan to cushion the coming Euro Bank asset dump.   And I hope he has the strength to strong-arm Republican opposition.   If not,  get liquid,  get short,  or you're going to kiss your capital good-bye.

@SenatorBurr REPUBLICANS = FISCALLY IRRESPONSIBLE

Just got finished reading a very interesting article on Minyanville.  Take a look at Table 1 in that article.  It shows,  on a timeline,  the total of Household + Corporate + Government Debt Outstanding, as a percentage of national GDP.

Regan+Bush Administrations - It spiked from 151 to 200%.
Clinton Administration - Remained flat.
Bush Administration - It spiked from 200 to 270%.

Republicans are fiscally responsible?  One word.  BULLSHIT.

@GOPLeader - That effing Eric Cantor wound up costing Americans $2.4 Trillion

The Fed Flow of Funds report got released today.   You can flip to page 106 to see the accounting for the net worth of Americans.  We lost $2.4 Trillion in wealth from June 30th thru Sept 30,  2011.  

What happened?  That little worthless,  piece of shit,  good for nothing, Eric Cantor,  acted like a fucking child and started a food fight on Capital Hill.   That asshole threatened to shut down our government over extending our nation's debt ceiling.  Investors across the country saw Eric's childish crap unfolding in Washington DC and headed for the exit on their investments,  across the board.   The value of our equity holdings fell by $1.5 Trillion.  Another Trillion got wiped off the map in the value of our pension/retirement savings.

Fuck you very much Eric, you sniveling weasel.

A special shout out thank you to all the Republican idiots in Richmond, Virginia who sent that scumbag Cantor to Washington.  I hope your investments performed significantly worse than average. 

Karma.

Question for the Obama Haters


I have a question for all the Obama haters out there,  especially all the ultra right-wing tea party members running around the country crying about President Obama being a socialist ...

In the previous post,  I laid out America's Individual Income tax return.  Take note of the fact that when you divide Income Tax by Taxable Income,  the average Federal Income tax rate of Americans is 20.6%.

A socialist is someone who takes from the rich,  and gives to the poor?  Done in excess,  that's socialism.  Right?

If President Obama is a socialist,  how is it then that the Top 400 earning Americans had taxable income of $227 Million each (latest info - 2008),  yet paid only 18.1% in income taxes .... less than the 20.6% average paid by other Americans?   How is it that a full 1/3rd of these very wealthy actually paid less than 15%?   This is socialism? Socialism is where the rich pay less than everyone else?

Are you sure you're not being brainwashed by the very people benefiting the most from the ultra low income tax rates on the extremely wealthy? Rupert Murdoch,  the owner of FOX,  is a billionaire.  Rush Limbaugh makes 10s of millions annually.   Haven't you allowed yourselves to be duped by these rich nut jobs?  Yes, the ultra rich have convinced you to fight their battles.  They've convinced you that our President is a socialist in his attempts to restructure America's income tax rates.  You're fighting for the rich,  allowing them to win the war.

Hell no, our President is not a socialist.  But we live in a communist country.  In communism,  the workers work their fingers to the bone to provide a lavish lifestyle to a very select group of party members.   In America,  citizens making between $200 K and $1 M a year are paying tax rates averaging 22 - 25%.  Middle class,  and upper middle class America are getting screwed,  to support the lavish lifestyles of the ultra wealthy, who pay far less in taxes.  And it's our Republican Party who stand in the way of bringing fairness back to our income tax structure.  Republicans absolutely insist that we keep the current tax structure in place,  a tax structure that operates just like communism.  The workers pay.  A small, select group of wealthy win.

Our President is a socialist?  Hardly.  But our Republican Party are a bunch of 'effing communists.   It's time to bring fairness back to our income tax structure.  It's time to raise taxes on the ultra wealthy,  IN A BIG WAY.

America's Income Tax Return

Americans pay $1.1 Trillion in Federal Income Taxes.  Ever curious how that number was determined?  Well,  this is a roll-up of America's 2009 Individual Income tax returns:

Note - Expressed in $ Billions.  i.e. Total Salaries and Wages are $5.9 Trillion, Taxable Interest equals $223 Billion:




Wednesday, December 7, 2011

Over regulation? Really? Really, Senator?

Republicans are on this giant kick of harping about government regulations stifling American corporations.

Funny thing though.  How is it that while we're supposedly over-regulated,  Corporate Profits hit record after record,  and taxes are at historical lows?   Wouldn't an over-regulated society lead to profit erosion,  and income tax explosion to the upside?   Then,  team those facts with the fact that corporate cash on the balance sheet also is sitting at all-time highs.  And corporations are in a position to complain?  Oh, please.  Wake the 'eff up.   Over regulation is just one giant reach for any issue that will stick.   And this issue isn't sticking.

Strange.  The Republican arguments just don't hold water.   But,  what else is new?

Why we need tight regulation of our financial markets

I initially posted this on my financial and trading blog, back in April 2009. Re-reading it this evening, I am simply SHOCKED that Republicans like Richard Burr even attempt to make an argument that we must roll back Dodd-Frank regulations over the financial industry. My take after re-reading this post ... SCREW RICHARD BURR AND HIS STUPIDITY. WE NEED SIGNIFICANTLY MORE FINANCIAL REGULATION OVER THE WALL STREET CLOWNS:


Michael Osinski was a computer programmer on Wall Street. He wrote software that Investment Banks used in managing their trades of mortgage backed securities. Michael recently wrote a riveting story in New York Magazine. It's a must read.

Two things struck me in thinking about this article. The first was just how interesting it was to follow Michael's career progress as he continued to develop and migrate this software to handle ever increasing levels of complexity for the development and trading in these securities.

The more shocking aspect of the article though had to do with his descriptions of the multi-million dollar traders who controlled this market. Here's an exert from his article that is most shocking:

"The world around me, though, had become bizarre. At the time, I had an odd sensation that mortgage traders felt they had to outdo the loutish behavior in Liar’s Poker. The more money they made, the more juvenile they became. What do you expect from 30-year-old megamillionaires whose overwhelming aspiration was something vaguely called Hugeness? They had wrestling matches on the floor. Food-eating contests. Like little kids, they scrambled to hide the evidence when the head of fixed income paid his rare visits to the floor.

Now that I was spending more time on the floor, I wondered why the men’s room always stank. Then one afternoon at three, when I was in there taking a leak, I discovered the hideous truth. Traders had a contest. Coming in at eight, they never left their desks all day, eating and drinking while working. Then, at three o’clock, they marched into the men’s room and stood at the wall opposite the urinals. Dropping their pants, they bet $100 on who could train his stream the longest on the urinals across the lavatory. As their hydraulic pressure waned, the three traders waddled, pants at their ankles, across the floor, desperately trying to keep their pee on target. This is what $2 million of bonus can do to grown men."

These are the people who Alan Greenspan (Republican Chairman of the Federal Reserve Board) expected to be able to execute a program of self-regulation of our financial markets? These are the people who our representatives and regulators in Washington DC believe always act in a legal, above-board manner?

Who in the hell are we kidding? These people lie, cheat and steal daily in an effort to take your money and make it theirs. These people exist all over Wall Street. Accept the fact that Wall Street is dominated by juvenile crooks. Once you accept the reality of who occupies the trading turrets of Wall Street, it then becomes an easy step into the realm of accepting the need for very tight regulation of our securities markets, and all of its participants.

President Obama is a winner

I've heard our President called just about every name in the book.   He's a socialist,  stooge, weakling,  idiot,  dolt,  pathetic .... you name it,  I've heard it, read it,  and sometimes,  even spoke or typed it myself.

But there's only one front that counts in my book.  And on that front,  President Obama is a winner:

Return on the S&P 500 during eight years of George W Bush .... -39.6%
Return on the S&P 500 during three years of Barack Obama ...... +52.4%

President Barack Obama's administration has been a raging success.  And I have the money in the bank to prove it.

Obama's war on religion?

Seen this Rick Perry commercial?   Obama's war on religion?  I missed that one.  Did it cost anything near the $1.5 Trillion Republicans spent on the wars waged on Islam?  Just curious.

Rick,  I have faith too,  faith that you'll flame out soon enough that few Americans will even recall that you were in the race.  You sealed your fate when threatening to hang Ben Bernanke - the only person in Washington who managed to apply common sense and prevent the '08 financial crises from becoming a full blown depression.

Rick Perry is toast.

My head's going to explode?

I've been up since 3:30 am.  My head is spinning.  It's not from the 4th cup of coffee either.  I'm drinking Caffeine-free this morning.  It's spinning from all the political and economic activity swirling around us today.

Europe - What a bunch of clueless morons over in Europe.  I've been hard on the inept political leadership we have in our country.  But, wow.  Our Congress looks like a genius pool next to the clowns over in Europe.  Europe's answer to their economic issues will lead them further down a rat hole of higher unemployment, continual erosion in economic activity,  and a death spiral in budgetary performance.  European stupidity will wind up rubbing off on the World Economy.  The World's financial markets are going lower, on the back of idiocy out of Europe.

President Obama - He's finally coming out swinging and weighing in heavy on the very issue that disturbs me the most - income inequality,  under-taxation of the ultra wealthy.  It's about damn time.   And I'm getting a good chuckle out of the reaction-o-meter spinning out of control on CNBC.  All the rich bankers, traders and money managers are livid that they're under the microscope.  Hell yeah,  let 'em feel the heat.  And make 'em whip out their checkbooks and cut bigger checks for income taxes.  I am just damn tired of paying an all-in Federal Income Tax bill of 22 - 25% of my income,  while the 400 highest earning Americans, making $286 M a year,  pay an average of 18%.  Even worse,  over 30% of the 400 highest earning Americans pay less that 15%.   How in the hell did we get in a situation where the richest among us pay less than the middle class?  And why is my Republican party standing there like morons,  protecting the rich,  and insisting that we can't raise income taxes on the wealthy to bring fairness back to our tax structure?

My neighborhood - I live smack in the middle of a Republican stronghold.  I can't go anywhere without bumping into radical, ubber right wing neighbors who think of President Obama as being an raging socialist and total disaster.   Well, OK.  They're entitled to their opinions.  But, Republicans are the better alternative?  Oh please.  Get an 'effing clue.  Republicans destroyed our economy.  They have no viable alternatives to get us out of the mess they created.   And their credibility is Zippo.  But my neighbors' naivety in really understanding the issues blows my mind.  Instead of trying to educate them,  which is an exercise in futility,  I'm in avoidance mode.  I won't be talking with neighbors much in the coming year,  and perhaps eternity. But I'll be handing out plenty of Obama 2012 stickers as XMas presents.  So they won't be talking to me either.  Good.  Less conflict.  Lower blood pressure.

Class warfare? - Oh STFU.  The rich pay less taxes than the middle class.  While I get caught in AMT,  year after year after year and wind up paying 25% tax on my capital gains,  Warren Buffet and Bill Gates can sale the same damn stock and pay only 15%.  WTF?  It's not class warfare,  it's just simple, plain, effing fairness.  And if President Obama makes the case that we need fairness in our tax code,  then by god,  he's my man.

Gingrich - He's got the Republican nomination sewed up.  Romney doesn't stand a chance. White, Christian, Southerners will not vote for a Mormon.  It's just not going to happen.  And I have to chuckle at all my neighbors who think Obama a disaster,  yet are now forced to support a lying scumbag like Gingrich.   This man bounced checks,  was sued to force payment of his child support,  has had more affairs and wives than my Ti BA-35 calculator can compute, and I've only scratched the surface.  Newt lacks a single, moral fiber in his body.  He's an arrogant, disgusting, vile person.  And people think he's a better alternative than President Obama?  My god, we're a nation gone insane.

That's just a small taste of the issues crossing my mind.  I'll be grateful if I make it through the day without my head exploding.

Sunday, December 4, 2011

@WhiteHouse - If you want my vote, I need to see Financial Executives in orange jumpsuits


President Obama - I'm a registered Republican who voted for you in 2008.   I voted for you because worthless politicians in my Republican party did stupid shit that destroyed our economy.   While you're making some progress,  it's simply not enough.  And worst of all,  I am just effing tired of reading about all the financial executives who made tens and hundreds of millions,  while driving our economy over a cliff with the worthless games they played in the mortgage market.  You want my vote in 2012?   OK then,  I need to start seeing a bunch of rich, white bankers marching around in orange jumpsuits.  Until that happens,  get lost.

Can you tell that I'm watching the 60 minutes piece this evening on all the rich bankers who screwed America,  with ZERO fear of prosecution?

Friday, December 2, 2011

@SenatorBurr - You're full of crap, Senator


I've always been mad at my worthless Republican Senator,  Richard Burr.  The man's been in Washington DC for more than 15 years.  What has he accomplished?  Nothing of substance.  Absolutely nothing.  But,  he spends inordinate time pointing fingers everywhere but in the mirror.

I'm especially upset my with worthless Senator today,  after reading this letter.  Did you read the key piece tucked at the very end of the letter?:

"Last night, the Senate voted on a bill that would extend the temporary payroll tax holiday enacted last year.  This was an attempt to reduce long term retirement savings for short term stimulative gain; it did not work the way we hoped, and it is time to pursue other alternatives."

It did not work?  Oh please.  It did work.  It is working.  It continues to work.  And the evidence is right in front of your nose, Senator.  This payroll tax cut puts money in the pockets of average Americans, Americans who are in dire need of help in this terrible economy.   This money gets spent.  It stimulates DEMAND.  Increased demand leads to jobs.  Look at the data Senator.
  • In eight YEARS of Republican control of Washington during the Bush administration,  only 1.1 Million new jobs were created.
  • In only eleven MONTHS after the Obama payroll tax cuts were passed,  1.4 million jobs have been created.
  • 1.1 Million by Republicans in eight years,  1.4 Million by Democrats in 11 months!
If Republican politicians had their way,  they'd be shoveling even more money into the pockets of the extremely wealthy.   That money would not get spent.  It'd be stashed in a bank or sunk into an investment.  Our world is already awash in liquidity and capital Senator.  We don't need any more damn capital sloshing around in the system.  We need demand.  We need to put money into the hands of people who will spend that money on products.  It is DEMAND that will create jobs,  not SAVINGS and INVESTMENTS.  Payroll tax cuts go to people who need the money,  and therefore will spend it quickly,  increasing DEMAND,  creating jobs.  Get a clue you worthless idiot.

North Carolina deserves better than an idiot serving us in the United States Senate.   Get off your tail Senator,  and get these tax cuts extended.  Pay for them by taxing the very wealthy.   Get it done Senator,  so our nation can continue to create jobs for those in dire need.

North Carolina deserves better than our idiot Senator,  Richard Burr.

Why Republican politicians are losers

Repost from June 2009:

My Republican Party is a party of losers. We are losers because we choose losers to lead our party. And one of the biggest losers of all is Newt Gingrich.

Newt was our party's keynote speaker a couple of nights ago at a fundraising dinner for the Republican House and Senate campaign committees. We're supposedly a party of self-reliance and personal responsibility. Newt Gingrich:
  • Bounced 22 checks.
  • Was a draft dodger.
  • Showed up at his wife's hospital bed (after cancer surgery) seeking agreements in divorce talks.
  • Had to be taken to court and forced to support his children.
  • Used his political power and influence to get his wife a job.
  • Was caught having sex with the wife of his campaign aide.
  • Had affairs with his Congressional aides.
This man is scum. He's bad news. He's trouble. And he's viewed as the leader of the Republican Party? What the hell is wrong with us that we look to such morally corrupt people to lead our Party? How in the world can we talk about personal responsibility and self-reliance when we have a scumbag like Newt Gingrich carrying our banner?

I have to ask again, are my fellow Republicans insane?

ENOUGH. I've had more than enough of the lunacy going on within the Republican Party. We absolutely must throw out of office every Republican who served since 2000. Within the group of Republican politicians in Washington DC now, I don't hear a single voice crying out about the necessity of getting rid of Newt Gingrich. So, let's clean house. Let's get rid of every Republican who saddles up next to Newt. And that's just about every Republican in office now, including North Carolina Senator Richard Burr.

Senator Richard Burr needs to go. We need to vote this man out of office. North Carolina deserves better.

Thursday, December 1, 2011

Articles worth a read, November 2011


11/30 China: Boosts growth
11/30 Bernanke: Saves the world, again
11/30 Economy: Improving, dramatically

11/29 Rich: Whining to The President
11/29 Rich: Complain about the poor
11/29 Bush Tax Cuts: Fail

11/23 SuperWealthy: Job Creators? Nope
11/23 US Taxes: Among lowest in world
11/23 UK: Addresses Corp Greed

11/22 Rich people: Don't pay income tax
11/22 Frum: Republicans are insane
11/22 Basel: History and Rules

11/21 Euro Banks: $2.5 T Asset Sales
11/21 Endgame: Coming to EU, rapidly
11/21 Government fiddles: World burns

11/20 Income inequality: Kills economic growth
11/20 Bush economy: Based entirely on debt
11/20 $46 Trillion: 10 years of spending (Pg 54)

11/19 Reason: Case against Gingrich
11/19 No kidding: Keith has a point
11/19 Really, no kidding: Barry's point even better

11/18 Newt Gingrich: LIAR
11/18 Newt Gingrich: Hypocritical LIAR
11/18 Cain: Dumbest of the dummies? 

11/17 Bernanke: Goes to war with China
11/17 Burr: Says Obama toast
11/17 Burr: 36 - 35, We don't like Burr

11/16 Newt Gingrich: Fat, Loser
11/16 Coburn: 1%,  takes, takes, takes
11/16 Europe: Print, or die

11/15 HealthCare: Americans want mandatory
11/15 Stimulus: Does not work
11/15 TheFly: Good vs. Evil

11/14 Mark Cuban: Tax rates? Meaningless
11/14 Congress: Insider trading rampant
11/14 Republicans: Finally, bend

11/13 US Economy: Overview
11/13 Euro Central Bank: Fires politicians
11/13 Government: Crushes the people

11/12 War: So begins the next Republican War?
11/12 Cramer: Slams Republicans
11/12 Wall Street to Republicans: You got nothing

Tuesday, November 22, 2011

@SenatorBurr : Listen to yourself, just LISTEN. We're tired of your lies.


I am sitting here right now listening to CNBC's interview of Pat Toomey.  This Republican Senator is like ALL Republican Senators,  including my state's Republican Senator,  Richard Burr.  They refuse to deviate from the "Party" line.  They will say nothing outside of Republican talking points.

To all Republican politicians ... LISTEN to yourselves.  LISTEN to all your lies.  Do you really believe the AMERICAN people buy the constant stream of BULLSHIT you spew?

REPUBLICAN LIE:  We don't have a revenue problem.  We only have a spending problem in this country.  We spend 25% of GDP.  We need drastic cuts to spending.

WRONG.  On two fronts.  Our problems are both REVENUES and SPENDING.  We spend 25% of GDP,  but we only collect 14% of GDP.  On average we have spent 18% of GDP in the past,  so we also need to COLLECT 18% of GDP.  Our income tax rates are the lowest in 60 years.  Our income tax rates are near the lowest in the world.  We must raise revenues.  We must increase income taxes,  in addition to cutting spending.

And as Republicans now run around spewing lies and telling us we can only cut spending,  they are holding rallies across the nation trying to head off ANY cuts to defense spending.  Yet,  we spend more money on defense than the next 17 nations,  COMBINED.  Cut Defense.  Take a god damn knife out and cut the living hell out of defense.  And increase income taxes.  It's common sense.

FUCKING REPUBLICAN POLITICIANS, who refuse to use common sense.  Republicans are to blame for the sorry state of our nation's budget.  They wrecked our economy.  And they now stand in the way of the application of common sense to fix their mistakes. 

Republicans, like Richard Burr and Pat Toomey,  are lying,  POS,  good for nothing politicians.  North Carolina deserves better than Republican Senator Richard Burr, and the other worthless Republicans who stand in the way of applying common sense to our nation's budget problems.

Monday, November 21, 2011

@SenatorBurr : 2010 Election Postmortem

About one year ago I wrote a post with my observations after Republicans took control of The House.  I was reviewing those year ago comments this evening.  They are below,  with current observations indicated in red:

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 (yep,  I have enjoyed making fun of our idiot Senator, and look forward to five more years of fun ahead).

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. No change here.  Our Senator is a do-nothing, empty suit.

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.  And voters still want jobs and a better economy,  while our Republican Party spends all their efforts attacking,  attacking,  attacking ... anything and everything done by our President.  But all the while,  pretending like it's Democrats who won't work with Republicans. Right.  And pigs fly and horses bark.

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.   And Republicans are still clueless morons about simple economics.

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.  And we're about to learn,  come 2013.  Republicans will be called to task for spouting their bullshit lines about how budget cuts will lead to more jobs and economic growth. The opposite will play out. Republicans = Liars.

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.  Mitch McConnell is a poor excuse for a Human Being.  This man is mean spirited and highly disrespectful to the Office of the Presidency of the United States.  Mitch is a disgrace to our party, and our nation.

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.  Man,  was I ever wrong about Eric Cantor.  Eric destroyed TRILLIONS in American wealth by acting like a fucking child over the budget ceiling extension.   I didn't think anyone could be more disgusting than Mitch McConnell.  But Eric is far worse.  Shame on Richmond,  Virginia for sending this stupid clown to Washington DC.

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.  Boehner is worthless. Period.

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.  Yep, mean as ever.  But, stupid too.  Really stupid.

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.  Right on Jack. You da man.

more to follow, later ...

@SenatorBurr : Guess you clowns don't know about common sense?

Initially posted back on August 6th, 2011 ... but more applicable today,  than ever:


In thinking through our nation's problems,  I offer up these common sense observations:

1.  When our federal government acted responsibly in the past and balanced our budgets,  they taxed Americans at an overall average rate of 18% of our nation's income.  And they spent about 18% of our nation's income in the way of federal spending.   18% IN.  18% OUT.  Budgets balanced.

2.  Right now,  2011, our federal government is spending 24% of our nation's income,  and taxing us at 14%.

3.  Right now,  our federal government is taxing the 400 wealthiest among us (avg $280 M in annual income) at an average rate of 18%.  Over 32% of those 400 are paying 15% or lower.  The wealthiest are paying taxes at rates that only equal,  and often are less than our overall historical 18% average.

From those observations,  these common sense solutions should follow:

1.  If we've balanced revenues and spending in the past at 18%,  we need to get both our revenues and spending back to the 18% level.  This entails cutting spending,  AND raising revenues.

2.  If we need to get back to 18%,  and its fair that the wealthiest among us pay higher rates than those less wealthy,  then the wealthiest need to be paying taxes at rates far higher than 18%.

These are very common sense,  factual observations with common sense conclusions as to what needs to happen to solve our budget problem.  Unfortunately,  the Democratic Party is significantly closer to a common sense approach than the Republican Party.  That is just plain fact and can not be argued otherwise,  rationally.   As a country,  we must cut expenses and we must raise taxes on the wealthy.  We can argue as to what expenses to cut.  And we can argue about who has to bear what proportion of the burden in raising revenues, but it should be clearly evident that the overriding solution is both cutting expenses and raising revenues.

Right now,  neither party has it exactly right.  But Republicans are out in left field.  Democrats are in the infield,  but need to be closer to home plate.

Democrats want $4 Trillion in budget changes, over 10 years.  $3 Trillion in cuts,  $1 Trillion in revenue raising.  The number needs to be higher,  on both sides of the equation.  We need even deeper cuts,  and larger tax increases.

Republicans only want cuts.  And they will not raise taxes.  They also want a balanced budget amendment.  To solve the Republican equation would take our country to a point of 14% taxes IN,  14% expenditures OUT.  The deep cuts necessary to get us there would throw our country into a depression.

THE rational solution is 18/18.  Politicians with a plan to get us to 18/18 are worthy of our support.  Those are primarily Democrats.  The irrational solution is 14/14.  Politicians who want to get us to that point are simply clueless to the damage that would do to our economic future.  Those are primarily Republicans.

Senator Richard Burr walks the Republican party line.  While as a thinking,  rational person,  he may very well feel differently,  he only does what is demanded of him by the Republican leadership.  Richard Burr follows directions from the Senatorial Republican head,  Republican Mitch McConnell,  from the state of Kentucky.  Republican Senator Richard Burr does the bidding of the citizens of Kentucky.  He takes the irrational path, the path that will destroy our economy.

North Carolina deserves better than Republican Senator Richard Burr.

@SenatorBurr : Maybe this will help

Since you morons up there in Washington can't get your stuff together,  I thought I'd help by providing a pretty picture.  Get your crayons out Senator.   The Red one is most helpful.   Just start crossing through stuff until Total Revenue = Total Spending.  Think you could handle that Senator?  Or,  do we need to come up there and teach you how to color within the lines?

Click on image for a better view:

@SenatorBurr : David Frum speaks for the common sense wing of our party

David Frum,  who worked in the George W Bush White House,  is out with a real eye opener of an article in New York Magazine.   I feel at ease after reading David's article.  I am not alone.  I am not the only Republican stunned that our party has been hi-jacked by right-wing extremists who are pushing a dangerous economic and social agenda.  There are others in America like me.  We're the level-headed crowd who use common sense.  We just don't have a voice in our party - except for David.

A few lines from David's article where I found myself shaking my head in the affirmative:
  • In the throes of the worst economic crisis since the Depression, Republican politicians demand massive budget cuts and shrug off the concerns of the unemployed.
  • In the face of evidence of dwindling upward mobility and long-stagnating middle-class wages, my party’s economic ideas sometimes seem to have shrunk to just one: more tax cuts for the very highest earners.
  • Today, stimulative fiscal policy that includes tax cuts for almost every American is “socialism.” In 2001, stimulative fiscal policy that included tax cuts for rather fewer Americans was an economic­-recovery program.
  • Some of the smartest and most sophisticated people I know—canny investors, erudite authors—sincerely and passionately believe that President Barack Obama has gone far beyond conventional American liberalism and is willfully and relentlessly driving the United States down the road to socialism. No counter evidence will dissuade them from this belief: not record-high corporate profits, not almost 500,000 job losses in the public sector, not the lowest tax rates since the Truman administration. 
  • Republicans held more power for longer than at any time since the twenties, yet the result was the weakest and least broadly shared economic expansion since World War II, followed by an economic crash and prolonged slump.
  • The reality is, however, that the big winners in the American fiscal system are the rich, the old, the rural, and veterans—typically conservative constituencies. 
  • John McCain got 58 percent of noncollege-white votes in 2008. The GOP polls even higher among that group today, but the party can only sustain those numbers as long as it gives voice to alienation.
  • The business model of the conservative media is built on two elements: provoking the audience into a fever of indignation (to keep them watching) and fomenting mistrust of all other information sources (so that they never change the channel). 
  • But the thought leaders on talk radio and Fox do more than shape opinion. Backed by their own wing of the book-publishing industry and supported by think tanks that increasingly function as public-relations agencies, conservatives have built a whole alternative knowledge system, with its own facts, its own history, its own laws of economics.
  • We used to say “You’re entitled to your own opinion, but not to your own facts.” Now we are all entitled to our own facts, and conservative media use this right to immerse their audience in a total environment of pseudo-facts and pretend information.
And the grand finale:
  • In the aftershock of 2008, large numbers of Americans feel exploited and abused. Rather than workable solutions, my party is offering low taxes for the currently rich and high spending for the currently old, to be followed by who-knows-what and who-the-hell-cares. This isn’t conservatism; it’s a going-out-of-business sale for the baby-boom generation.
It's a great article.  It explains how our State got saddled with such a pathetic excuse for a Republican Senator.   Richard Burr is a right-wing nut job,  kept in power by rural,  uneducated whites.  And if he has his way,  our economic future is extremely bleak.  Those uneducated white folk think otherwise,  but they're clueless as to what will unfold economically if Republicans don't make a radical change in course and start taking a common sense approach to the issues driving our economy over a cliff.

Senator Richard Burr will vote a course that ensures economic disaster for America.  And when it unfolds,  those dumb white folk have only themselves to blame.

North Carolina deserves better than Republican Senator Richard Burr.

Saturday, November 19, 2011

@SenatorBurr : An average person can not reconcile the words to the actions of Republican politicians


Time and again Republican politicians stand in front of microphones railing about the need to cut our spending.  It's like all Republicans are preachers,  giving us the same sermon,  day in and day out.  They scream.  They yell.  They want us to get the message that we MUST stop spending.  We MUST cut, cut, cut.

Yet,  now that Republicans have a voice on a Super Committee that needs to make $1.2 Trillion in cuts at a MINIMUM,  what do they do?   They put forward a "fall back" plan that cuts only $643 Billion.  They come to the table, time and again, with proposals that reduce the deficit even LESS than Democratic proposals.  It's like the preacher who tells us not to drink and cat around town with sleazy women behind our wives' backs ... then after Church, the very same preacher hits the bars and orders up a dozen sleazy women for an evening of entertainment.

Sheesh,  I don't know about you,  but I'm way past being fed up with all the drunk, whoring Republican politicians who now reside in Washington DC.  We need to kick all these sorry bums out of office.  McConnelly,  Cantor,  Burr ... every Republican who has served us since George Bush was elected needs to go.   These are the people who failed our nation.  These are the people who can't deliver on what it is that they preach to us constantly.  These drunk,  whoring losers need to be shamed out of office.

North Carolina deserves better than Republican Senator Richard Burr.