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Wednesday, June 30, 2010

Paul Krugman speaks




"We are now, I fear, in the early stages of a third depression," the Nobel laureate wrote in a NY Times Op-Ed Sunday, dipping his toes into a pool we've been sloshing around in for some time.



What... Klugman is actually making sense? Wait a minute... he is an economist…... and he did win the Nobel Prize in Economics. Right?



That is, until he follows his comments up with this piece of shit of advice to G-20 meeting attendees: "This depression will actually be "a failure of policy... governments are obsessing about inflation when the real threat is deflation, preaching the need for belt-tightening, when the real problem is inadequate spending."





Thank God. For a minute there I was getting worried. He was beginning to make sense.









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Liberalism...Ain't it great




California Tax dollars at work.

California welfare recipients withdrew $1.8 million at casino ATMs over eight months 



California welfare recipients using state-issued debit cards withdrew more than $1.8 million in taxpayer cash on casino floors between October 2009 and last month, state officials said Thursday.

Gov. Arnold Schwarzenegger issued an executive order requiring welfare recipients to promise they will use cash benefits only to "meet the basic subsistence needs" of their families. The order also gave the state Department of Social Services seven days to produce a plan to reduce other types of "waste, fraud and abuse" in the welfare program.

The moves came after The Times reported Wednesday that officials at the department failed to notice for years that welfare recipients could use the state-issued cards to withdraw taxpayer cash at more than half of the tribal casinos and state-licensed poker rooms in California. The state initiated the debit card program in 2002.


Casino withdrawals, which represented far less than 1% of total welfare spending during the eight months for which the department released data, averaged just over $227,392 a month.

Schwarzenegger has already ordered the vendor that runs the state welfare system's ATM network to prohibit the cards from working at casino machines. Republican lawmakers are now calling on the administration to track down the people who withdrew cash at gaming centers and recover the money.

"I'd say that $227,000 per month is an astounding waste of taxpayer dollars," said Seth Unger, spokesman for Assembly Republican Leader Martin Garrick of Solana Beach. "To me it is absolutely clear that the department failed in its duty to provide oversight. We should explore all options to get the money back."

The electronic benefit transfer cards allow welfare recipients to access two accounts: cash offered through the Temporary Assistance for Needy Families program and an electronic version of food stamps, which comes with strict rules governing how the money can be spent.

The cash benefits, however, can be withdrawn and spent just about anywhere. A Times review of state records found that the cards work at ATMs in 32 of 58 tribal casinos and 47 of 90 state-licensed poker rooms.

Most of the ATMs impose a withdrawal limit of about $300 a day. The monthly cash grant for a family of three ranges up to $694, while families with more than 10 people can get as much as $1,469, documents from the Social Services Department show.

Some Assembly Republicans called Thursday for assurances that welfare recipients can't access ATMs at other "seedy" businesses. "If they're going to shut down … the casinos, why not also shut down the ATMs at liquor stores and bars?" Unger asked.

Schwarzenegger spokesman Aaron McLear said the point of the executive order was to force the department to examine the program for all manner of abuse, but did not specify any other kinds of businesses that might be weeded out of the network. "We're going to eliminate any waste, fraud and abuse that makes sense to eliminate," he said.

Democrats, who have been fighting to preserve the state's fraying social safety net in the face of a $19-billion budget gap, angrily rejected a Schwarzenegger proposal last month to eliminate the cash portion of welfare.

That was before anyone in Sacramento realized the money could be withdrawn by someone strolling from a poker game to a blackjack table.

Democratic leaders steered away from specifics while discussing calls for reform.

"We will conduct timely legislative oversight," said Senate President Pro Tem Darrell Steinberg (D-Sacramento). "We want to make sure all families are spending the money on the children it's intended to serve."




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Tuesday, June 29, 2010

Governors Criticize Obama's Border Security Plan



(Every time I see this guy I want to reach into the TV and choke him)
Juan Williams
"It's a civil rights issue."


This is not the reincarnation of the civil rights movement here. We're talking about illegals Juan. You brain dead dumb ass! 





PHOENIX -- The Texas and Arizona governors criticized the Obama administration's border security plans Monday, saying not enough National Guard troops are being deployed to their states.

"What we heard wasn't anything what we hoped to hear," Arizona Gov. Jan Brewer told reporters after a 90-minute briefing by federal officials sent by President Obama.

Texas Gov. Rick Perry, a Republican like Brewer, said the deployment to his state was "insufficient to meet the needs of securing the Texas-Mexico border."

A White House statement said plans to deploy 1,200 additional National Guard soldiers along the U.S.-Mexico border would "complement the unprecedented resources and additional efforts already devoted by this administration to securing the Southwest border."

Arizona would get 524 National Guard troops, Texas would get 250, California 224 and New Mexico 72, officials said. Another 130 would be at a national liaison office.

Brewer has said the deployment should total 6,000, including 3,000 in Arizona, the state with the most illegal border crossings. Perry asked in January 2009 for 1,000 National Guard troops to help with border security in Texas alone.

The White House statement said the extra Guard troops would be used to provide intelligence surveillance and reconnaissance support as well as backup to counternarcotics enforcement until more civilian officers are trained and stationed at the border.

The federal officials briefed Brewer, her senior aides and several state agency heads after an hourslong meeting in Tucson earlier Monday with Attorney General Terry Goddard, U.S. Rep. Gabrielle Giffords and dozens of local law enforcement officials. Goddard and Giffords are Democrats.

The federal team was led by John Brennan, a national security adviser whom Goddard said has the job of evaluating "the whole picture."
"He never said this is all," Goddard said. "He said this is what we're going to do right now."

The meeting with Brewer resulted from her June 3 visit to the White House, where she and Obama discussed border security and immigration. Brewer asked for specifics on plans for Arizona.

The president previously announced plans to send 1,200 troops to the border, and he asked Congress for $600 million to pay for 1,000 more Border Patrol agents, 160 new federal immigration officers and two unmanned aircraft. The figure includes $500 million in new spending and $100 million of redirected spending.

Brewer said after the June 3 meeting that Obama gave assurances that the majority of the 1,200 troops would go to Arizona. She sought them to help stem the flow of illegal immigrants and drug smugglers across the border, and she reacted to Obama's initial announcement by saying 1,200 wouldn't be enough. She also urged Obama to send National Guard helicopters and surveillance drones to the border.
Santa Cruz County Sheriff Tony Estrada, whose county abuts on the border, called the federal effort "long overdue."

"We've never had the attention, and we've never had the response or resources along the border that we have had recently," Estrada said after the Tucson meeting. "And once we have the right match, the right combination, I think we'll be able to claim some victories. It's not going to stop, the border will never be sealed. It will be safer, maybe more secure, but it will always be active."

The meetings follow months of heated debate over illegal immigration sparked by the passage of a new Arizona law in April. The law generally requires police investigating another incident or crime to ask people about their immigration status if there's a "reasonable suspicion" they're in the country illegally.

The meetings were held as Arizona officials awaited word on a widely anticipated federal legal challenge to the measure. Obama has called the law "misguided." Brewer has called its enactment necessary due to federal inaction on border enforcement.
Goddard said the federal officials clammed up when asked during the Tucson meeting about a possible challenge. Brewer said the subject didn't come up during the Phoenix meeting.


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Monday, June 28, 2010

A tale of two presidents











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Wednesday, June 23, 2010

Now... I have seen it all


Remember... our government actually paid for this advertisement. 

Your tax dollars at work!

They could care less about securing the border. But they do care if illegals get a fair wage? What the f---!


The people of AZ have finally woken up. Now is the time for the rest of us. If this video does not bring to bear, this worthless president has any resemblance to a real president, then you should have your head examined. 

This doesn't cross the line... it leaps over it!


(I had to listen to it twice. I couldn't believe what I was hearing.)


Hilda Solis--- I wonder if she is here legally?

video






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Monday, June 21, 2010

Here we go again








Update on my previous post


Once again the Democrats want to re-instate the NINJA rule that created our current fiscal problem under the CRA act. NO INCOME NO JOB APPROVED for the mortgage.


Democrats Vote Down 5 Percent Rule


In a bid to stem taxpayer losses for bad loans guaranteed by federal housing agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-Tenn) proposed that borrowers be required to make a 5% down payment in order to qualify. His proposal was rejected 57-42 on a party-line vote because, as Senator Chris Dodd (D-Conn) explained, "passage of such a requirement would restrict home ownership to only those who can afford it." 


What a novel idea!




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Thursday, June 17, 2010

What happens after a government injection of $145 billion

The government can't digest this simple principle... when you can't afford a home...you can't afford a home. Owning a home is an American dream... not an indelible right! 



If this video does not convince you; I don't know what the hell would!




Question. How in the hell do these bastards remain in office?




Franklin Raines
Why is this guy not in jail?



Update: Fannie, Freddie Delisting Signals Firms Have No Value


By Jessica Holzer and Jacob Bunge
Of DOW JONES NEWSWIRES
 
WASHINGTON (Dow Jones)--The regulator for Fannie Mae (FNM) and Freddie Mac (FRE) ordered them to voluntarily delist their shares from U.S. stock exchanges Wednesday, underscoring that the once-mighty mortgage behemoths no longer have value as private firms.


The move comes as the Obama administration begins to shift its focus to the future of the companies, which were seized by the federal government in September 2008 and are on track to becoming the largest recipients of bailout dollars in the financial crisis.
The company's regulator, Federal Housing Finance Agency Acting Director Edward J. DeMarco, cited stock-exchange rules related to minimum share-price levels as the basis 
for his action. But his hand was not forced by such rules.


"This is a positive step," Phillip Swagel, a former Treasury Assistant Secretary for Economic Policy during the Bush administration, argued. "It signals that these guys are going to come out [of conservatorship] in a different form and that the existing shareholders are not going to get anything."


Facing criticism from Republicans for not spelling out the fate of Fannie and Freddie, administration officials have indicated they will turn to the matter once Congress wraps up work on financial-overhaul legislation. Treasury spokesman Andrew Williams said Wednesday's action "does not imply any direction of any future reforms or preference of corporate form" for the companies.


Freddie Mac said it expects the delisting of its common and preferred stock will happen by July 8. Fannie Mae indicated it will be delisted in early July.


The companies' shares will now be traded in the over-the-counter market where they will be quoted on the OTC Bulletin Board, typically the domain of untested companies and more speculative stocks. They will still file disclosures with the Securities and Exchange Commission.


The companies' share prices plummeted on the morning announcement; Fannie's and Freddie's stock closed down nearly 40% to 56 cents and 76 cents, respectively, in Wednesday trading. Meanwhile, the roughly three dozen publicly-traded preferred securities issued by Fannie and Freddie were punished nearly as severely, posting declines of 14% to 46% in Wednesday afternoon trading.


Fannie's and Freddie's shares have limped along since the federal government seized them. The U.S. Treasury acquired ownership of 80% of each company's common stock and agreed to pump in capital as needed to keep the companies solvent. The government has so far injected $145 billion and losses at the company continue to mount. In exchange for the capital, the federal government has received preferred shares in the same amount carrying a 10% coupon.


Any money the companies make goes to paying the dividend on the government's shares.


Fannie's and Freddie's shares had become the province of day traders taking bets on the company's future after institutional investors fled the stocks and Wall Street equity analysts dropped them from their coverage. Trading has remained intense, however, with the shares often making the New York Stock Exchange daily list of most heavily-traded shares.


Since their federal takeover, Fannie and Freddie have functioned as tools of the administration's strategy to keep mortgage credit flowing and help homeowners avoid foreclosure. The Treasury's preferred stock agreements with Fannie and Freddie effectively guarantee the companies' debt.


The two mortgage giants have struggled mightily since the housing bust. In May, Fannie requested another $8.5 billion in government aid. Meanwhile, Freddie said it would need a $10.6 billion injection from the Treasury.


The shares of both companies first sank below the New York Stock Exchange's $1 30-day average price requirement in the fall of 2008. Companies that see their stock trade below that level for 30 consecutive days typically are given six months to correct the issue or face delisting.


When Fannie and Freddie slipped into the warning zone, they got a longer-than-usual period to buoy their stock price thanks to a temporary suspension of NYSE Euronext's listing standards in late February 2009. Those listing standards were reinstated in August 2009, but both companies traded above the minimum price at that time.


Over the past 30 days, Fannie Mae's average share price sank once again below NYSE's minimum requirement. Freddie's share price didn't violate the $1 minimum, however.
DeMarco, in a press release, said it "simply makes sense" for Freddie to delist because it "fits with the goal of a conservatorship to preserve and conserve assets."


Pulling their stocks off the NYSE will save the two companies $500,000 apiece in annual listing fees, as both companies paid the maximum amount due to the large number of 
shares outstanding, according to NYSE Euronext.


Fannie and Freddie watchers weren't surprised by the regulator's action. Rep. Spencer Bachus (R-Ala.), the top Republican on the House Financial Services Committee, said in a press release the move confirmed Fannie and Freddie weren't real companies anymore.


"De-listing is the appropriate message: That these companies have no value and they shouldn't be traded as if they're real companies," said Bose George, an analyst for Keefe, Bruyette & Woods Inc.
 


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Monday, June 14, 2010

Well said


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Sunday, June 13, 2010

New Immigration Law





New Immigration Laws: Read to the bottom or you will miss the message...


1. There will be no special bilingual programs in the schools.
* * * * * * * *
2. All ballots will be in this nation's language..
* * * * * * * *
3.. All government business will be conducted in our language.
* * * * * * * *
4. Non-residents will NOT have the right to vote no matter how long they are here.
* * * * * * * *
5. Non-citizens will NEVER be able to hold political office
* * * * * * * *
6 Foreigners will not be a burden to the taxpayers. No welfare, no food stamps, no health care, or other government assistance programs. Any burden will be deported.
* * * * * * * *
7. Foreigners can invest in this country, but it must be an amount at least equal to 40,000 times the daily minimum wage.
* * * * * * * *
8. If foreigners come here and buy land... options will be restricted. Certain parcels including waterfront property are reserved for citizens naturally born into this country.
* * * * * * * *
9. Foreigners may have no protests; no demonstrations, no waving of a foreign flag, no political organizing, no bad-mouthing our president or his policies. These will lead to deportation.
* * * * * * * *
10. If you do come to this country illegally, you will be actively hunted and when caught, sent to jail until your deportation can be arranged. All assets will be taken from you.
* * * * * * * * *

Too strict ?


AND, HERE'S THE KICKER...

The above laws are current immigration laws of MEXICO




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Saturday, June 12, 2010

Where are they now?

I was watching Cavuto the other day and he brought up an interesting point. 

Where are all these A list movie stars now that we are in day 52 of the oil spill? 

 I remember these (loving, caring) fucks were all over Bush when Katrina hit. Now that the Messiah is president you don't hear Jack shit!


Another case of selective outrage.







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Wednesday, June 9, 2010

Obama delivers electrifying speech


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Monday, June 7, 2010

Flat out…. Obama is a paradox.












History will record the Obama
presidency as the... "we don't want to offend anyone presidency."  



Think about it.  We are at war with Muslim extremists and the Obama administration can't even muster up the courage to say Muslim extremists. We have illegals coming here a dime a dozen but in Obama's eyes they are not illegal aliens, no…. they are the embryo of tomorrow's Democrats.




The president of the United States took an oath to "defend and protect the United States." To say he failed at this miserably would be an understatement.

 He has completely ignored the people of Arizona calling their new law a "misguided effort". The new law is the old federal law that has never been enforced and Obama decided to take a position along side the illegals who are invading our country. Pertinent to what I just stated, there can be no dispute about this since he also has halted construction of the new border fence signed into law under Bush. Give me some plausible reason that would justify this action? Just one, since they just spent a whopping $110 billion on welfare. Can his actions or inactions be interrupted as anything else but a blueprint to topple the United States (i.e. fundamentally change America), or does pacifism run through his veins? Is his goal the subversion of the United States to try an achieve some sort of "new world order ideology" based upon his Marxists Socialistic principles of how he perceives the world? I know it sounds crazy but there is something that just doesn't smell right here.


Don't laugh folks. This ain't a distorted Oliver Stone conspiracy movie. It's happening before your very eyes. When the president tells the citizens of Arizona to go to hell. When the president calls the new law a "misguided effort". When the president halts construction of the fence that Bush signed into law. When the president refuses to protect our border. You are left with only one thought. 

President of what?


It damn sure is not the President of the United States!


Obama declared that history will mark his ascent (kind of biblical don't you think) to the presidency as the moment when "our planet began to heal" and "the rise of the oceans began to slow." This is his own words. Now you know why they call him the Messiah.


The problem is... the Messiah of what…. and for whom!

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Friday, June 4, 2010

Proof positive Liberalism is a mental disorder


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Tuesday, June 1, 2010

Prime Example.... Eric Holder



Coward: noun a person who lacks the courage to do or endure dangerous or unpleasant things.

milk-toast
Click (I like the way she says it) [milk-tohst]


–adjective

easily dominated; extremely mild; ineffectual; namby-pamby; wishy-washy.






Prime example




Have you ever heard this guy, man up, look someone in the eye, an answer a question in a forthright direct way?

Of course not. But he does work for the most transparent administration of all time. Holder is transparent all right, you can see right through him for the wimp that he is.




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