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.

Thursday, November 17, 2011

@SenatorBurr : WTF is wrong with you morons up there in Washington DC?

$46.05 Trillion.

It all comes down to how effective we can be at reducing a 10 year spending budget of $46.05 Trillion (Page 54, here).

Holy CRAP Senator,  you can't find a way to cut a couple Trillion out of a $46 Trillion budget?  What,  they didn't teach you how to do that at Lawnmowing School?  Mind if I send my junior high school daughter up there to help out?  She'd get it done in an afternoon,  and be home in time for dinner.  We teach common sense around our home,  something you apparently can't manage to grasp.

North Carolina deserves better than our moron of a Republican Senator,  Richard Burr.

@SenatorBurr : The Economist Magazine says you've lost my vote


The Economist Magazine has me pegged in this article.  I'm White Working Class.  There's no doubt about it.  At least,  I think like a White Working Class person.  And, I am White,  last time I checked. I don't work though.  I sit at a computer,  speculating in the securities markets,  but there are long stretches of time where I just putz around.  So,  I don't really work. But, according to the Economist Magazine, I am definitely in the White Working Class camp.

How's that?  Well,  according to the Economist Magazine, there are two core groups of Republican voters:

White Working Class
  • Entitlement cuts are not necessary to reduce the budget deficits
  • Taxes need to be raised on the wealthy
  • We need our troops out of Iraq and Afghanistan
  • Occupy Wall Street has a valid gripe

Core GOP Base
  • Entitlements need deep cuts
  • Under no circumstance should taxes be raised,  on anyone
  • We need to wage war everywhere,  all the time
  • Occupy Wall Street are a bunch of losers

McCain supposedly lost the last Presidential election because he failed to appeal to the White Working Class.  We broke the way of President Obama because we were so pissed off at our Republican Party.  According to this magazine article,  we still largely deplore the stupidity of the current crop of Republican politicians,  and are likely to vote for Obama.

Well,  maybe.  But,  maybe not.

The problem us White Working Class dudes face right now is, as much as we deplore the stupidity of Republican politicians,  we just aren't impressed with President Obama either.  Our President is weak.  He refuses to act with a backbone and punish Republicans, who destroyed our economy.  And our President refuses to arrest and prosecute those on Wall Street who destroyed $7 Trillion of our wealth and walked away rich.  Our President just simply acts like a weak putz,  incapable of mustering the strength to right our nation's ship.

But it's even worse.  We have no viable alternatives on the other side either.  We still hold our Republican Party largely responsible for this economic mess we find ourselves in.  And when we look across the crop of Republican Presidential contenders we see a sorry assed group of losers with brains no larger than a pea.  There are no good alternatives.

We aren't the White Working Class.  We're the White Lost Class,  looking for a strong leader,  and not seeing squat on the horizon.

Wednesday, November 16, 2011

@SenatorBurr : Hypocrite of the highest order


To the winners of the wars go the right to revise the history books ... unless you're a Republican politician.  In that case,  you re-write history on a daily basis.

Isn't that so true with our modern day Republican party? Republicans pushed their "ownership society" down our throats.  While controlling both the White House and Congress,  they encouraged EVERY American to run out and buy a home.  Heck,  why stop with just one?  Buy two, three, four.  Just be an owner.  To support the Republican agenda,  our Republican Federal Reserve Board Chairman turned a blind eye to sensible regulation and oversight of the mortgage lending industry.  Don't have income?  Not a problem.  Liar loans for everyone.  We'll give 'em out like candy.

That worked out well,  eh?

But to hear a modern day Republican politician,  it wasn't their fault.  Barney Frank is to blame.  Or,  it was Bill Clinton's fault.  Please,  just shut the 'eff up with the lies.  We're just tired of hearing that bullshit,  revisionist history coming out of the mouths of lying Republican politicians.

But,  they won't shut up.  Daily,  they make every effort possible to re-write history and blame anyone and everyone but themselves.  It's as if a Republican politician has never looked in the mirror,  much less pointed a finger that direction.

Yesterday,  our esteemed Republican Senator,  Richard Burr came out with another tiring re-write of history.  Did you read it?  Stimulus doesn't do anything.  Stimulus is a failed policy.  Stimulus is a Democratic failure.  Oh,  really?

Nine studies indicate that Stimulus worked
CBO says stimulus created between 1.4 and 3.3 Million jobs
Zandi: Stimulus worked
SF Federal Reserve Study - Stimulus created 2.0 Million jobs
FactCheck.org - Yes,  the stimulus worked
Studies support that stimulus worked

But somehow,  in Senator Richard Burr's fantasy land ... the stimulus was a failure.

There's an even more important consideration.  Did the stimulus bills pass with only Democrats voting in the affirmative?  Hardly.  These bills were crafted with Republican input as well.  Otherwise,  Republicans would have used their ability to filibuster the bills on the floor of the Senate.  The result,  as is usually the case,  left us with bills influenced by both parties.  We got Democratic spending,  and Republican tax cuts.  Yet,  to listen to Republicans,  they played no part in crafting the stimulus bills.  As usual,  modern day Republicans lie to us,  constantly, including our own worthless Republican Senator, Richard Burr.

This compromised result leaves one to wonder - would the stimulus have been more effective if it was spent in the manner that our Democratic President wanted?  We got hundreds of billions in Republican tax cuts in the stimulus program at the insistence of Republicans.  Most of those benefits wound up in the pockets of the rich and wealthy.  It's sitting in a bank somewhere, accomplishing nothing in a world awash in idle bank deposits.  How much better off would we be right now if it was actually spent putting Americans to work building our nation's infrastructure?  Likely,  significantly better off.

Senator Burr,  if you want our respect,  try telling the truth.  Take responsibility.  Stop pointing fingers everywhere else.  Until that happens,  and in a consistent manner,  you're no better than all the other Republican politicians now serving in Washington DC ... just another 'effing liar.

North Carolina deserves better than our lying Republican Senator,  Richard Burr.

@SenatorBurr : Things I'm tired of hearing from the mouths of stupid Republican politicians


If only I could go through a day without hearing Republican politicians saying the dumbest things.  IF ONLY.

The list of the dumb things I hear out of the mouths of stupid Republican politicians is so very long.  Near the top though is the canned response as to why we can't raise taxes on the wealthiest Americans. Are you ready for the Republican Politician talking point on why this can't happen?  Here it is ...

"We can't raise taxes on the wealthy because it won't solve all our budget problems."

Oh sheesh.  Use some 'effing common sense.

Imagine yourself homeless,  without a penny to your name.  Your stomach is empty and the hunger pains are relentless.  You desperately need at least $3 to buy a decent amount of nutrition to help your body make it through another day.  You're walking down the street and see a one dollar bill just laying there on the sidewalk.  No one is around, anywhere.  Are you going to walk past that dollar and just leave it laying on the ground?

Hell yes you're going to walk past that $1 ... if you're a dumb-assed Republican Politician.  Why?  Because that $1 won't get you a meal.  Never mind that it gets you 1/3rd of the way there.  It's not a full solution.

'nuff said.  My Republican party is full of idiot politicians.

But that's why North Carolina deserves better than our dolt, Republican Senator Richard Burr.

@SenatorBurr : Why you and your Senate friends are clueless dolts


Three years ago,  our economy came very close to a total meltdown.  To this day,  we continue to investigate, speculate, study,  and debate the cause(s) of this scary period in our history.  I had a front row seat to this mess,  trading my own capital,  day in and day out,  through the meat of the terrible pin action created by the near economic collapse.  I have my own opinions and assessments as to what caused the near meltdown.  The list is extremely long.  But at the very top of the list is the creation of the monster gambling casino of derivatives trading - particularly, credit default swaps (CDS).

The primary problem was that we allowed securities traders to enter into CDS transactions in amounts that far exceeded the underlying value of the assets the CDS securities were meant to insure.   And we kept this market in the dark to the point that not a single individual on our planet had a clue how much CDS was outstanding,  and who held what.  Cut to the chase - we allowed something like $25 Trillion in CDS insurance to be traded on only $2 Trillion of total sub-prime debt outstanding.  And no one had a clue who sold the CDS,  and who owned the insurance on the other side of that transaction.

Why is this bad?  Imagine that 10 of your neighbors were allowed to buy and sell $2.5 Million in home owner's insurance against your $250,000 home.  A number of your neighbors are going to have a tremendous incentive (buyers of the CDS insurance) to burn down your home in order to pocket $2.5 Million.   Other of your neighbors have the incentive (sellers of the CDS insurance) to protect your property.   But,  you don't have a clue who to be leery of,  and who to treat as an ally.  So, you don't allow anyone near your home.

To this day,  we have failed miserably in solving the CDS problem.  We sit here right now with one hell of a f*$@ing mess in Europe.  Some countries over in Europe are in debt past their eyeballs.  Some financial institutions in our world have sold insurance on this debt.  Traders have bought insurance on this debt.  We don't know who sold and who bought.  We don't know how much risk is out there.   And just like in the fall of 2008,  when there is so much uncertainty and a total lack of transparency,  we don't let anyone near our home, we take our money off the table and run for the exits.   Watch.  That is what we face soon - panic and plunging securities markets around the world.  And this coming crises will make 2008 look like a picnic on a sunny afternoon.

It's been 3 years.  We have made no progress on this problem.  We need to instill come common sense.  We should only allow the owners of the underlying assets to purchase insurance - just like only the owner of a home can buy insurance on his home.  And,  we should make sure that the sellers of the insurance are tightly regulated.  Most of all,  there should be total transparency in this market.  Everyone should know exactly how much risk is on the books of the sellers.   Everyone.  Total transparency.  But,  we still have a mess on our hands.

Senator Burr - you and your buddies in the Senate need to get off your lazy asses and get this problem addressed ... head-on and immediately.  But even as I type this,  I know better.  You're a lawnmower salesman.  You are a clueless dolt when in comes to issues of our financial markets.  You have allowed the bankers and traders in our world to pull the wool over your eyes for so long now,  that we are helpless in being able to put in place any sensible controls over this run-away freight train.

What are you doing Senator?  You are running in the opposite direction.  Every single time I hear a Republican politician, including yourself,  addressing financial issues,  you are bitching and moaning about Dodd-Frank.  Republicans, like you, want less regulation of our banks. You want to block any and all efforts to apply common sense.

We are screwed,  because you are clueless.  We are screwed, because you are in the pockets of the bankers.  We are screwed,  because you are on the side of greed.

North Carolina deserves better than our lawnmower salesman of a US Senator. 

Sunday, November 13, 2011

Tea Party - Bunch of Unemployed Losers?

Almost fell out of my chair when reading this:

"Professor Hector R. Cordero-Guzman and business analyst Harrison Schultz from the Baruch College School of Public Affair puts the unemployment rate of the Occupy protesters at 13.1%.  In other words, approximately 85% employment rate.

In contrast, a 2010 New York Times CBS News poll found that only 56% of members of the Tea party were employed (question 105)."

Since the "Occupy" movement is largely considered something cooked up by Democrats,  and The Tea Party largely invented by Republicans, well, it makes perfect sense to me.   Today's Republican Party is compromised of a small core of extremely wealthy Americans who have brainwashed the ignorant,  unemployed into voting Republican.

The Tea Party?  Losers.  Largely a bunch of unemployed losers.

Friday, November 11, 2011

Lindsey Graham is so naive

Lindsey Graham is now on the record saying ...

"If a special congressional committee doesn’t come up with a debt-reduction plan by Nov. 23, Congress should take a 10 percent pay cut, says Sen. Lindsey Graham (R-S.C.)."

What a stupid,  naive idiot.  Only cut pay 10%?  Lindsey,  do you honestly believe a 10% paycut is punishment enough for abysmal failure?  If your child came home and said "Dad,  I wrecked your brand new Mercedes after drinking two six packs and texting while driving,  so you can take away my cell phone for a day" ... that be OK with you Lindsey?

I can tell you what the American people are thinking right now ... "If those fucking assholes in Congress don't get off their tails and compromise on a plan that makes substantial deficit reductions through a balanced blend of cuts and new taxes,  well then,  let's go haul their asses out on the street and hold a lynching party".

After all Lindsey,  Governor Perry didn't think any less of the efforts made by Ben Bernanke.  And every financial professional and economist in our country recognizes if it wasn't for Ben,  we'd be in a depression right now with over 25% of America out of work.  If a lynching of our Federal Reserve Chairman is good enough for a Republican Presidential Candidate,  then it's certainly acceptable for the American people to storm Washington DC with rope in hand, with a plan in mind to hang every Congressman in sight.

A 10% pay cut?  That's just bullshit.  It's not enough punishment for the piss poor Congressional performance we have witnessed in the last couple of years.  Not anywhere near enough.

Farce


Much is being made in the last day or two about progress in the Super Committee.  Apparently,  Republicans have finally made a move to increase some income taxes.  They are proposing to eliminate itemized tax deductions for wealthy Americans.   STOP.  Think about this for a second. 

Most wealthy people wind up paying AMT (Alternative Minimum Tax).   In fact,  it is extremely difficult to avoid AMT if your income is between $250 K and $1 M.  In AMT,  you get no tax benefit from deductions.  In other words,  most wealthy people already can't deduct anything.   Yet,  the average income tax rate of the 400 highest paid Americans was only 18% in the latest period reported.   And over 33% of these 400 paid a rate lower than 15%.

Once your income gets above $1 M,  it gets easier to avoid AMT.  But at those levels of income,  the deductions provided from Mortgages,  State and property taxes become such a small percentage of overall income,  that the impact is minimal.  In other words,  this Republican proposal makes such a small dent as almost to be meaningless.

This whole "move" by Republicans to compromise is nothing but a farce.  More lies from my party of worthless,  piece of crap Republican Politicians.

The average income tax rate on the super wealthy needs to be jacked to 25% and higher,  from the current 18%,  a 35% boost in rates.  Most middle class Americans are paying an all-in rate (Fed and Payroll) of 20 - 22%.   It's high time that our nation's most wealthy pay more than middle class Americans.   And we're not going to get to "fairness" in our country until Republicans wake the 'eff up and do what Americans need done - Raise taxes on the wealthy.

North Carolina deserves better than our worthless,  piece of crap Republican Senator Richard Burr.  This man is an empty suit.  He gets nothing done.  Nothing.

Wednesday, November 9, 2011

Our Republican party is full of loser politicians

The Republican Presidential candidates had a debate on CNBC this evening.  I had reading and research to do and was not able to tune in.  I did follow the debate later though based on Tweets from various traders.  A sampling of those tweets spells out what the Wall Street community thinks about our modern day Republican Party:
  1. Watching candidates lined up for . Half gather on left, half on right. No one talking to Cain. Afraid of scandal rubbing off?
  2. Santorum is an idiot
  3. The Fondler in Chief
  4. Fuck this Italy shit. 999
  5. Number of instances of the word Italy in Cain's answer: ZERO
  6. Cain doesn't know shit about Italy.
  7. bad answer by Cain to lead off
  8. We are all doomed
  9. Bernanke is watching this, while smoking a blunt saying "these bitches don't know shit. I'm gonna get them"
  10. They know nothing!
  11. Rofl! KgB Ron wants to liquidate your 401k
  12. Romney wins applause when he says we should not bail out Euro or US banks carrying Italian debt
  13. Huntsman is like a younger version of the creepy guy on Family Guy
  14. Romney looks like shit. Hangover
  15. the global economy needs "surgeons" not "general practitioners". So far haven't heard any surgeons in the house
  16. No one gives a shit about Italy. But they all want to fire Bernanke. Hahahahahhaha
  17. Romney answer has nothing to do w economy
  18. Italy must break up? what?
  19. How many chins does it take to make a newt?
  20. Bachman is wearing her Star Trek uniform
  21. Look at this fucking putz
  22. Can someone please ask the candidates if they endorse a -10% interest rate
  23. Bachmann repeats second highest corporate tax rate in the world Effective tax rate here is actually quite low.
  24. Here is comes. The GropeFather
  25. Cain is so fucking guilty
  26. Santorum was excellent as Billy Rosewood in Beverly Hills Cop 2
  27. Herman Cain: I will not let them put my sexiness on trial
  28. Newt should be stabbed in the face with a swordfish
  29. Grandpas gone wild
  30. Huntsman is flat out bored. That's the only reason he is here
  31. Romney needs some hair gel
  32. So all the candidates are against corporate dividends?
  33. Santorums tie is just stupid
  34. Everyone knows what should be done. Nobody has any idea how to do it
  35. Ron Paul w the worst answer of the night.
  36. So far this debate sucks
  37. ok my question is simple Oil is going to $150 next year. What r u going to do about it
  38. Ron Paul is right. The Fed has been robbing from the savers of this country. It is a stealth bank bailout.
  39. Romney just owned Liesman
  40. Gov Perry you are not running just in Texas. Answer ? w nation in mind
  41. I feel bad for Bachman. Be a mother and go home
  42. Romney, et al are totally clueless on housing. That's what happen with denial and embracing the Big Lie of housing
  43. jesus, it's worse than a broken record
  44. Cain is on auto 999 all day every day
  45. Cain knows absolutely nothing. Pizza man
  46. Apparently, uncertainty and regulations are killing this economy - not 40% housing declines and 9% unemployment
  47. And to think Cain was a Fed President
  48. I dare any of these guys, other than Paul, to say anything bad about any of the TBTF banks
  49. The audience reaction would be interesting if someone told the truth that unemployment will hit north of 25%
  50. These candidates sound like they dislike the banks more than the OccupyWall St. folks.
  51. Ron Paul would sell Hawaii to China
  52. What would you do to Fannie Mae? Cain: Is she a blonde? Does she want a job?
  53. Someone needs to give Bachman a hug
  54. Newt is such a dick
  55. Santorum predicted the housing bubble!!!!!
  56. I know Ron Paul works for the KGB
  57. I have a question: tell me, what do you think unemployment would be today w/o 2008 bailouts?
  58. here is the bad news for Republicans. Obama is the Ali of campaigning And I don't see a Frazier in the house tonight
  59. candidates all glad housing questions are done, can go back to talking about usual nonsense that has nothing to do with real world
  60. Romey: we are Greece. Fuck you , we're way bigger
  61. Perry want to turn America into one giant Texas. God help us all.
  62. Perry is braindead
  63. yep. stroke
  64. Wow, Perry should just drop out now.
  65. If you get into a car accident and break your jaw bone, slap some 999 on it and shit will be fixed
  66. Uh, Perry just did a scorched earth move on his campaign.
  67. Ouch. Perry can't remember what 3 agencies he would wipe out when he gets to DC. Commerce, education and ??? Painful to watch.
  68. Perry literally would have literally been better off saying "f this I'm hammered man"
  69. I keep looking 4 Romney's hair dye to drip down his temples
  70. Dear SNL, you are welcome. Sincerely, Rick Perry
  71. Perry managed to sound worse than the $GMCR call
  72. The Perry moment is one of the most significant of any moment in any debate ever ever
  73. Someone needs to gag Bachman, quickly
  74. Basically, we don't need no stinking colleges
  75. According to these assholes, we should replace colleges with FOXCONN factories
  76. I'm not hating on Perry because of his superficial gaffe. This debate shit is all Hollywood. Doesn't make the man
  77. Okay, Cain is officially an idiot with his 999 nonsense
  78. If I was running, I'd run on the platform of declaring war on China
  79. Bachmann seems to be suspended in some perpetual tampon/abortion commercial, can't quite put my finger on it.
  80. I bet you Huntsman keeps a set of chopsticks in his suit pockets
  81. I wonder if these men are trying on purpose to recreate the glory years of the 1930's?
  82. Dear Mitt, everyone is trying to keep their currency down
  83. Romney thinking he got rid of Perry tonight. But Newt coming on strong and is a much tougher competitor.
  84. Why can't we go back to the good old days of evil doers and cave people with dirty bombs?
  85. I'd have more respect for Perry if he occasionally blurted out some racial slur, just to get his Texan on.
  86. Perry is an oil man. No cronyism there
  87. Flash: Moody's downgrades Perry campaign to Baa
  88. BREAKING: FASB to allow banks holding Intrade contracts on Perry as Tier 1 capital to mark to model
  89. InTrade halted - CME to onboard all Perry contracts with reduced initial margin but 40% equity cut so immediate margin call
  90. We bought several million in CDSs on Perry's campaign funds, today before the debate.
  91. As we speak, Huntsman is eating Lo Mein with his ivory chopsticks
  92. The short interest is in the Perry contract is huge. Setting up for an epic short squeeze which would make him dictator of the galaxy
  93. I no longer hate and wish harm on Bachman. I now pity her and want her to go home and cook dinner for her 50 kids
  94. At least W made us laugh. So would Rick. And the economy is pretty much unsavable as is.
  95. Whoa, Perry shows up in spin room: "I'm sure glad I had my boots on because I sure stepped in it out there."
  96. ISDA declares all CDS written on Perry to be untriggered as his political suicide was voluntary
  97. On the Matter of the CNBC GOP Debate AKA Planet of the Apes 
  98. Did Fast Money short Perry before the debate?
  99. Not one question calling these fuckers out for being against bailout of 2008
  100. So did anyone ask them what stocks they recommend?
    OK ... I've had enough of the Republican Debate via Twitter this evening.  All the Republicans running for President?   They're all brain dead morons who don't have a clue how to run the American economy. 

    Our Republican politicians are all void of intelligence.

    Our worthless, good for nothing politicians ...


    Tonight's headlines making the rounds on the financial trading desks:

    Dems Offer $2.3t in Deficit Reductions Over 10 Years: down from previous $3t, includes $1t in tax revenue, $1t in spending cuts, $300b in lower interest costs over decade.

    GOP countered with plan for $1.5t in cuts with $350b in tax revenue over decade

    My reaction?  F*#&ING worthless,  piece of crap politicians.  We don't need to hear from these scum bags until they put a plan on the table with $4 Trillion in cuts PLUS $2.0 Trillion in new taxes.   And if they don't get it done by the deadline,  we should throw their sorry tails out of office immediately and scorn them for eternity.

    How in the HELL is it that our Republican party can't propose near as many spending cuts as the Democrats?  Time and time again we hear these worthless,  piece of crap Republican politicians come on the camera railing about spending.  Yet,  to the one,  they never offer up details on what cuts they'll make.  And now that they have the opportunity,  these wussies can't find more cuts than the Democrats?

    How is it that our Republican politicians can't bring themselves to raise income taxes?  Poll after poll shows how the vast majority of Americans WANT our political leaders to grow an 'effing backbone and raise taxes to help balance our budgets.   Republicans can't listen to Americans?  WTF?

    Face it.  Republicans are just damn worthless,  to the one.  Kick their sorry butts to the curb.  It's past time.

    North Carolina deserves better than our worthless, piece of crap,  good for nothing Republican Senator Richard Burr.

    Monday, November 7, 2011

    Today's parting thought

    Nice article.

    76% of Americans say the country’s economic structure "favors a very small proportion of the rich".   Yet, the entire U.S. Republican Congressional Delegation says we don't give enough tax breaks to our nation's richest Americans.

    North Carolina deserves better than Republican Senator Richard Burr. 

    There is NO Justice in America. NONE.

    Fascinating article spelling out how much damage banking CEOs did to America.  The top 14 highest paid banking CEOs took home $2.5 Billion from 2000 thru 2008.  For those who do the math,  that averages $19.8 Million per CEO,  per year.  What were they rewarded for?  The actions of these 'effing @##holes cost America $7 Trillion.

    Yet,  no one went to jail.

    There is no justice in America.  None.

    Simply stunning that our Republican politicians can not lift one damn finger to raise taxes on wealthy Americans.   40% of the top 1% are Corporate Executives.  15% are Doctors.  10% are Lawyers.   Yet, Republicans would have us believe the top 1% are all small business people,  job creators. Where are the jobs? What did we get for those $7 Trillion in losses?  

    Isn't it time to tell our Republican politicians to wake the 'eff up?

    North Carolina deserves better than our dolt of a Republican Senator,  Richard Burr.

    Leave it to Henry Blodget to hit the nail on the head

    Henry Blodget is writing an excellent,  short piece that strikes me as hitting the nail directly on the head.  The bottom line:

    "Republicans, who have become a party of right-wing ideological extremists ... Great Silent Majority of reasonable Americans are being ignored in the rush to pander to extremists."

    I was among the group of "Silent Majority".  No longer.  I am fucking fed up with the moronic actions of the politicians in MY Republican party.

    America deserves better than modern day Republican extremists.  North Carolina deserves better than our dolt of a Republican Senator, Richard Burr.

    Jeb Hensarling - just another arrogant asshole Republican Politician

    In a Wall Street Journal article today by Steven Moore,  I am once again reminded why I view our current day Republican party to be nothing but an bunch of arrogant asshole politicians.  If you get a chance,  read the article.  Tell me that Jeb Hensarling doesn't come across as one arrogant son of a bitch.  His attitude is so typical of Republican politicians:

    I can cut the deficit in a second!  Slash and burn Medicaid and Medicare.  Push retirement ages to the moon for Medicare and Social Security.  Stop the spending on education and small business.  But,  cut corporate taxes to the bone.  And no way,  no how will I EVER consider raising a penny of new taxes on the wealthiest Americans.

    WTF?  Are these Republican morons so damn stupid as to think the message being sent to middle class America is not crystal clear?

    Republicans slashed taxes on the wealthy under the guise of job creation.   Where are the jobs?   Republicans spent Trillions on wars.  Where did that get us?  Republicans took all the referees off the playing field in housing regulation.  How can we not notice the economic calamity that ensued?

    Now,  to pay for all the fucking Republican mistakes of the past .... they plan to kick middle class America in the teeth and shove us over a cliff? And Jeb thinks we don't notice how he's trying to screw us?  Yep,  like all modern day Republican Politicians - Jeb Hensarling is an arrogant asshole of the highest order.  And I intend to remember his arrogance when I walk into the voting booth in the future.

    Wednesday, November 2, 2011

    @SenatorBurr - Are Republicans rational in their criticism of Ben Bernanke?


    Ben Bernake,  our Chairman of the Federal Reserve Board,  is giving a press conference right now.  The actions the Federal Reserve Board have great impact on our nation's financial markets.  I,  like most other financial traders,  are now glued to our trading screens watching Ben's every twitch,  and listing to each and every syllable Ben mutters.   If Ben even moves his lips in the wrong direction,  the financial markets could plunge.  At least it feels that way at times.

    Ben is doing an excellent job in this press conference.  He's coming across as a very level-headed person.  Ben appears to be earnestly trying his best to take actions that will improve our nation's economy.  I like Ben Bernanke.  I feel safe knowing that he is at the helm of our nation's Federal Reserve Board.  This man is an honest,  hard-working American who deserves our respect and admiration.   And this is yet another reason I think my Republican Party is so fucking deplorable.

    To the one,  the Republican candidates for President want to fire Ben Bernanke.   Perry even wants to drag Ben's tail down to Texas and hang the man from the highest tree. Top Republican politicians in the US Senate and House of Representatives sent Ben a letter recently,  blaming Ben for an errant US economy. These Republicans are just fucking stupid.  They should be spending more time looking in the mirror to place blame.

    We're in the midst of a piss poor economy because Republican politicians are morons.  Republicans gave our manufacturing base away to China in the name of free trade, sending American unemployment out of control.  Republicans slashed taxes on our nation's wealthiest citizens without cutting budgetary expenditures,  driving our annual deficits through the roof,  and leading to deplorable income inequality.  Republican politicians stood around with their heads up their asses while energy,  education and health care costs ramped to the sky.   Republican politicians took great delight in jacking our nation's military budget to the point that we spend more than the next 14 nations,  combined.  Republican politicians pushed an "Owernship Society" effort down our throats that wound up crashing our nation's housing market.  Republican politicians sent our young people off to senseless wars.  Yes,  the Republican politicians we sent to Washington DC in the last decade or two are just down right, fucking stupid.

    One of the dumbest?  Republican Senator Richard Burr.  North Carolina deserves better than our dolt of a Republican Senator.  Richard Burr is worthless.