I’m working this morning folks, (yeah!), but I just had to swipe this from Patriot Room – (thanks guys!)
Today’s AYFKM? Award goes to Kathy who was stupid enough to call into Glenn Beck and start spouting the liberal left talking points to someone more well informed, and obviously, quite a bit smarter than she.
Go Glenn!….and Kathy? You have to start reading the Monster and Patriot Room for starters!
P.S. The Monster is acting strangely this morning: 1.) My server is having problems again, 2.) The Monster has been discovered and is getting hammered, 3.) Someone is trying to crash the site. You choose – I haven’t figured out what is going on yet.
Thanks for your support! Donate to the Washington DC trip!
H/T Larry for sending these videos along. For your viewing enjoyment because I KNOW there are numerous people that are screaming very similar comments as those you will hear at their TV on a daily basis. And of course, this is on foreign television.
Obviously Larry Summers has been smokin’ the same koolaid/crack pipe that most of congress has not taken a break from since the Fascist-In-Charge, (31 czars and counting), was installed in our White House.
Since when does anybody think that Google is the barometer of economic or any other success? Larry, how dumb do you think we are? Stop pretending to be stupid, we know you are not. Also, keep talking down to us and find out where that gets you…
Of all the statistics pouring into the White House every day, top economic adviser Larry Summers highlighted one Friday to make his case that the economic free-fall has ended.
The number of people searching for the term “economic depression” on Google is down to normal levels, Summers said.
Searches for the term were up four-fold when the recession deepened in the earlier part of the year, and the recent shift goes to show consumer confidence is higher, Summers told the Peterson Institute for International Economics.
Summers continued the administration’s push-back against critics of President Barack Obama’s handling of the recession, defending the economic stimulus package against Republicans who have tried to paint the program as a failure because it hasn’t stemmed the unemployment rate.
“We pledged at the time the Recovery Act became law that some of the spending and tax effects would begin almost immediately.,” Summers said in prepared remarks. “We also noted that the impact of the Recovery Act would build up over time, peaking during 2010 with about 70 percent of the total stimulus provided in the first 18 months. Now, five months after the passage, we are on track to meet that timeline. “
And for those of you that want a primer on Larry Summers, try these links out. For those of you just catching up, make sure to look at the education and organizations and you will start to see the pattern the rest of us are completely and totally aware of, and go all the way to the end of this post for another story. The corruption goes well beyond donkeys and elephants.
Gender: Male Race or Ethnicity: White Sexual orientation: Straight Occupation:Economist Party Affiliation: Democratic
Nationality: United States Executive summary: US Treasury Secretary, 1999-2001
Father: Robert Summers (economics professor) Mother: Anita A. Summers (public policy professor) Wife: Victoria Summers (tax attorney, div.) Son: Henry Daughter: Pam (twin) Daughter: Ruth (twin) Wife: Elisa New (Harvard professor, m. 11-Dec-2005)
Why did Goldman Sachs, Citigroup and Morgan Stanley steer millions to a company Larry Summers directed while he administered “stress tests” on them?
Last month, a little-known company where Summers served on the board of directors received a $42 million investment from a group of investors, including three banks that Summers, Obama’s effective “economy czar,” has been doling out billions in bailout money to: Goldman Sachs, Citigroup, and Morgan Stanley. The banks invested into the small startup company, Revolution Money, right at the time when Summers was administering the “stress test” to these same banks.
A month after they invested in Summers’ former company, all three banks came out of the stress test much better than anyone expected — thanks to the fact that the banks themselves were allowed to help decide how bad their problems were (Citigroup “negotiated” down its financial hole from $35 billion to $5.5 billion.)
The fact that the banks invested in the company just a few months after Summers resigned suggests the appearance of corruption, because it suggests to other firms that if you hire Larry Summers onto your board, large banks will want to invest as a favor to a politically-connected director.
Last month, it was revealed that Summers, whom President Obama appointed to essentially run the economy from his perch in the National Economic Council, earned nearly $8 million in 2008 from Wall Street banks, some of which, like Goldman Sachs and Citigroup, were now receiving tens of billions of taxpayer funds from the same Larry Summers. It turns out now that those two banks have continued paying into Summers-related businesses.
Our lovely friends at AIC/AIG (and don’t forget Goldman Sachs) received upwards of $85 Billion dollars because they were too big to fail, yet the biggest lender to small and medium sized businesses, CIT Group who needs at least $2 Billion and upwards of a whopping $6 Billion (snark) is going to get thrown to the lions; and in this case, the lion is J.P. Morgan who just posted a $2.7 BILLION profit. CIT Group will become the 4th Largest Bankruptcy, and will more than likely take down numerous small and medium businesses with her while in bankruptcy.
What was I just saying about decimating the middle class and small businesses in this country? What was I saying about bringing America to her knees by destroying her economy so that the general population would be so demoralized they would allow a global government with the Pilgrims in charge?
Glenn Beck had an interview today with Charles Payne about just this subject; CIT Group and the really rich and powerful slamming the door on the rest of us so we will stay in our “place”.
Please keep in mind that I put this video together rather quickly because all of my “go to” videographers have not thought to make this one.
I am adding links to pertinent stories so that you can catch up.
July 16 (Bloomberg) — CIT Group Inc., the 101-year-old lender running short of cash, may need as much as $6 billion to avoid seeking bankruptcy protection after the U.S. wouldn’t give the firm another bailout, CreditSights Inc. analysts said.
“CIT indicated that it needs at least $2 billion of rescue financing in the next 24 hours or it would likely file,” said CreditSights analysts including Adam Steer. “We believe the figure is in the range of $4 to $6 billion plus, making outside capital sources shy away.” CIT’s debt tumbled, the shares plunged and the risk of default soared to a record today.
The lender is trying to raise $2 billion from debt holders and gave them 24 hours to put up the money, the Wall Street Journal reported today, citing unidentified people familiar with the matter. New York-based CIT told investors that without the cash, it will probably file for bankruptcy, the Journal said.
CIT Chief Executive Officer Jeffrey Peek failed to convince regulators that fallout from a collapse would threaten the rest of the financial system. Officials at the Treasury, Federal Reserve and Federal Deposit Insurance Corp. have resisted putting additional taxpayer funds at risk, on top of $2.33 billion granted to CIT in December, to keep the lender afloat.
“While it is possible that CIT could receive rescue financing, we believe the prudent course for bondholders is to brace for bankruptcy,” CreditSights wrote.
CIT’s $2.1 billion, five-year bank line maturing in April was arranged by Bank of America Corp. and Citigroup Inc., and includes Merrill Lynch & Co. — part of Bank of America — UBS AG and Morgan Stanley, according to data compiled by Bloomberg.
Peek, 62, joined CIT in 2003 after failing to land the top job at Merrill Lynch & Co. He pushed the lender into subprime mortgages and student loans to pump up growth.
What this really means:
Regulators were debating whether a CIT collapse would cause a cascade of failures among other businesses, the same reasoning used to justify multiple bailouts of American International Group Inc., once the world’s biggest insurer, and Citigroup, formerly the largest U.S. bank.
House Financial Services Committee Chairman Barney Frank said he’s “heard from a lot of people, including a lot of people involved in small business, that it would cause a serious problem” if CIT failed.
“I was struck by the number of people who were concerned and felt that if there was a total collapse it would have very negative consequences,” Frank, a Massachusetts Democrat, said in an interview yesterday.
Supporters of U.S. aid pointed to CIT’s 1 million customers who may lose funding, including 300,000 retailers. Tracy Mullin, chief executive of the National Retail Federation, said in a letter to Treasury’s Geithner that a CIT failure “cannot be allowed to happen at a time when retailers are already struggling to survive the national recession.”
July 13 (Bloomberg) — CIT Group Inc., the century-old lender that hasn’t been able to persuade the government to back its debt sales, says its demise would put 760 manufacturing clients at risk of failure and “precipitate a crisis” for as many as 300,000 retailers.
A collapse would ripple across the “small and medium-sized businesses who rely on CIT to operate — to pay their vendors, ship goods to their customers and make their payroll,” the New York-based lender said in internal documents obtained by Bloomberg News that make the case for its importance to the U.S. economy. CIT spokesman Curt Ritter declined to comment on the documents.
CIT executives spoke with regulators during the past two days, according to a person familiar with the talks, after its bonds and shares tumbled on concern that the Federal Deposit Insurance Corp. won’t allow the lender into its bond-guarantee program created last year to unfreeze debt markets. CIT may default as soon as April, when a $2.1 billion credit line matures, according to Fitch Ratings.
“A CIT default would create liquidity issues for the corporate sector,” Ed Grebeck, chief executive officer of debt consulting firm Tempus Advisors in Stamford, Connecticut. “If CIT isn’t doing trade finance and lending, its customers will look to other banks for replacement and from what I’ve seen, they aren’t willing to step up.”
Bonds, Shares Fall
A failure of CIT, run by Chief Executive Officer Jeffrey Peek, would be the biggest bank collapse since regulators seized Washington Mutual Inc. in September. CIT reported $75.7 billion in assets and $68.2 billion in liabilities, including $3 billion in deposits, at the end of the first quarter.
CIT’s $656 million of 5.125 percent notes due in 2014 fell 4.5 cents on the dollar to 53 cents as of 9:21 a.m. in New York, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. The debt yields 20 percent.
The stock declined 36 cents, or 23.5 percent, to $1.17 as of 9:36 a.m. in New York Stock Exchange composite trading. It dropped 46 cents, or 23 percent, last week.
The company, which reported more than $3 billion of losses in the past eight quarters, says it’s hired Skadden, Arps, Slate, Meagher & Flom LLP as an adviser.
New York-based Skadden is known for its work in mergers and acquisitions and bankruptcies. The firm represented BHP Billiton Ltd., the world’s largest mining company, in its $150 billion proposed acquisition of Rio Tinto, and advised Circuit City Stores Inc. in its bankruptcy.
“Skadden is one of the principal law firms representing CIT,” Ritter said in an e-mail on July 11. “They represent the firm on a wide variety of corporate matters. CIT will not comment on any specific aspect of their engagement.”
…and then there was Skadden, Arps, Slate, Meagher & Flom who just loves to come by and peruse the current post. So take a gander at the following links and find the connections to all sorts of other members of the banking cartel and the Pilgrims.
Dear House and Senate members who are increasingly doing fly-bys of the Monster,
Please stay awhile and tell all your banker, insurance and DOD contractor buddies to pull up a chair. You may actually learn just exactly how exasperated we are with you, and then you will have the choice of what is sure to come being a peaceful transfer of power back to the American People or more like July 14th, 1789. Look it up because I am convinced you do not know what date that is.
For those members of our congress that are still in the dark about the shadow players, (though not Al Franken because I do not believe anybody can teach him to walk in the light), wander around this site, look at the Fed and the Pilgrims pages and then make a decision about which side of this particular aisle you want to be on because in a very short amount of time you will no longer have that option!
I watch my stat programs. I know who comes here and I know what they look at. The smoke of Barack Hussein Obama’s ghostly past has become a smoldering fire as I watch thousands of small businesses, law firms, actuaries, and various mega-large corporations come here to see what his Occidental records (or the lack thereof ) are all about.
He is fooling very few people now, and his liberal left congress is starting to choke on all the radical socialist/marxist/fascist “WE WON/YES WE CAN CHANGE” they have been shoving down our throats.
DID YOU REALLY THINK WE WERE GOING TO ALLOW YOU TO DESTROY OUR CONSTITUTION AND COUNTRY?
Did you really think we were going to allow you to DESTROY our economy, our small businesses, and our wealth so that you could become yet even richer while demoralizing us so that we would accept being part of the “global government”? Did you think that upwards of 3 dozen czars and counting would go by UNNOTICED because we are still watching our flat screens and shopping at Target? Did you think we were going to allow you to bankrupt this country with Obama DeathCare and Cap and TAX? Did you think we were going to allow The Fed to continue to create bubbles and then pop them so that their shareholders could continue to feed at the trough of OUR WEALTH? Did you think we were going to continue to allow you to send Trillions of our hard earned money to foreign countries?
Did you really think all of that was going to happen without so much as a whimper?
ARE YOU CRAZY?
WE ARE COMING FOR YOU, and no matter how long it takes, no matter how much more wealth we have to lose to change the course of this train wreck, no matter what we have to do to achieve our goals, WE ARE AWAKE AND WE ARE TAKING OUR COUNTRY BACK!
Pick a side Congressmen and Senators, and remember there are more of us…
(P.S. You Can Run Google, but you can’t hide – are you burning up the phone lines to your buddies in DC?)
(UPDATE FROM 9.12 MARCH ON WASHINGTON D.C. – SEE RELATED LINKS AT BOTTOM OF POST)
Silly me, I thought there may be just one judge in this country with the cajones to force this issue and follow the Constitution but I guess when the Supreme Court bows out time and again they have cover.
Officer’s orders jerked after challenge to prez’ eligibility
A judge in Georgia has dismissed a case brought by a U.S. Army reservist whose orders to deploy to Afghanistan were jerked when he challenged President Obama’s eligibility, telling the officer’s lawyer the case would be handled better in Florida where the lawyer lives.
According to Orly Taitz, an attorney for Maj. Stefan Frederick Cook, the instructions came at today’s hearing scheduled in Georgia by U.S. District Judge Clay Land.
The hearing was on a complaint originally challenging the legality of Cook’s deployment orders, based on doubts about Obama’s eligibility to be president. Cook was to report to Ft. Benning in Georgia this week to be deployed to Afghanistan.
The complaint was amended after the Army suddenly rescinded Cook’s orders, and his civilian employer reported being pressured by the government to fire the officer.
Land told Taitz the issue now appeared to be a dismissal complaint, and it needed to be handled in Florida where Cook is a resident and was employed.
“Since the Army revoked its orders and we asked for a Temporary Restraining Order,” Taitz said, the judge concluded it was a dispute over retaliation.
“He says he no longer has jurisdiction and to refile the case in Florida,” Taitz told WND shortly after the hearing.
“It’s basically dismissed in Georgia. He advised us to have it refiled in Florida, because now he’s not being deployed from Ft. Benning, he’s not a resident of the state. He’s a resident of Florida, his employer is in Florida. The judge wants us to refile the case where he feels the case’s jurisdiction is proper,” she said. “Now we are re-doing the case. Now it’s not about the order to deploy but fighting retaliation he experienced on the part of the military. His employer stated he was under enormous pressure to fire him,” she continued. “We will be refiling the case in Florida.”
I wish I could write satire as well as this gentleman. Alas I cannot, but I do want to share the latest satirical piece from Canada Free Press because it is too good to pass up. Here is just a taste; make sure to go over and read all about D.E.A.T.H.
The Future Of Medicine Under Obama Universal Coverage for Health (O.U.C.H.)
By William Kevin Stoos
The year was 2019, in the third term of the Reign of Obama the Secular. Owing to a radical Supreme Court stacked with four Obama appointees who declared the Twenty-second Amendment to the United States Constitution unconstitutional, Obama was well on his way to becoming the first President since Roosevelt to be elected to four terms. A generation that voted for free stuff in 2008, begat another generation of voters who wanted free stuff. In time, the amount of voters wanting free stuff–and knowing they would get it from the Great One–reached a tipping point. They soon outnumbered those who worked, paid taxes, and created jobs. For the next decade they continued to vote for politicians who promised free stuff. Of course, this ensured that the King ofFree Stuff, Obama the Secular–who never met a government program he did not like–would be re-elected for life.
By 2019, the government had acquired Government Motors–which produced the Obamobile–a tinny, scaled-down, politically-correct Smart Car powered by chicken manure, which got 150 miles per gallon and rode two people and one sack of groceries comfortably. If you did not hit anything harder than a marshmallow, did not want to ride farther than ten miles, and did not need to carry anything, the Obamobile was great–and guaranteed not to crush you in an impact less than 5 miles per hour. The government also owned the press, which had willingly volunteered to merge into a new federal agency comprised of ABC, MSNBC, CBS, and NBC, named “The Department of ObaMedia.” Its mission it was to herald the accomplishments of the Great Leader, produce Obama Infomercials, and explain new government controls on the peoples’ lives. All banks were nationalized and combined into one mega bank–“ObamaNational.”
Ladies and Gentlemen; it is time to pick a side and march on Washington D.C. on 9.12.09 to let this government know THAT YOU KNOW and YOU ARE NOT GOING TO ALLOW THEM TO CONTINUE THEIR WAYS! If you have not figured out that our government has gone around the bend and is hell bent on destroying the middle-class and small businesses AND steering our country toward poverty and global government, then you must take the time to read the posts on this site and numerous other sites and educate yourself on the oligarchy of american aristocratic families, banks, politicians, and think tanks.
Here are the two umbrella organizations that are Marching on DC on 9.12.09 with numerous network groups. I have joined Constitutional Emergency and urge you to join one of these groups if you feel that you can attend in September.
Now for the message from The Monster. As many of you know, I am a home schooling mom who now is working reduced hours that also believes in personal responsibility and running my household in the black, (unlike our Congress). I have been wrestling with attending the march on 9.12 due to my own moral code about fiscal responsibility and self sufficiency. I have asked friends for their thoughts and advice and have been informed that every single American Patriot that can attend; should. Therefore, I am putting aside my cowboy hat wearing, lone tiger stance and requesting your assistance in gathering the funds to make this trip. I have the added hindrance of 2400 miles of ocean to add to the type of travel that I am able to use, and am required to purchase a plane ticket. My goal is $1500 for airfare and a shared hotel room. If you can contribute, it will be greatly appreciated and if I do not reach the goal, all funds will be returned to their patrons.
My son asked me yesterday who Robin Hood was, and we had a discussion about the “legend” of Robin of Loxley and his stealing from the Norman rich to give to the Saxon poor. When I started to think about it though, Robin was really giving back what had been stolen by the lazy elite from the producers. So, in this age of Obama and his Norman Congress stealing from the hard-working American producers to give to the lazy American and foreign layabouts, where is our Robin Hood? Who exactly is going to stand up and finally say, “Everybody has to do their fair share of the work, and nobody gets to ride the clock!”
Yesterday, the senate health care reform bill came out and it features the very unconstitutional surtax on the wealthy of upwards of 5.4% to cover a government health care plan. Today, the CBO’s long-term budget outlook came out and Robert J. Samuelson is stating that to balance the budget we would have to raise taxes by 44% on everybody. Is anybody going to stop Prince Bambi, Sheriff Rahm, and the rest of the elites from unconstitutionally redistributing the wealth of the producers?
We face an unprecedented collision between Americans’ desire for more government services and their almost equal unwillingness to be taxed. The conflict is obscured and deferred by today’s depressed economy, which has given license to all manner of emergency programs, but its dimensions cannot be doubted. A new report from the Congressional Budget Office (“The Long-Term Budget Outlook“) makes that crystal clear. The easiest way to measure the size of government is to compare the federal budget to the overall economy, or gross domestic product (GDP). The CBO’s estimates are daunting.
For the past half-century, federal spending has averaged about 20 percent of GDP, federal taxes about 18 percent of GDP and the budget deficit 2 percent of GDP. The CBO’s projection for 2020 — which assumes the economy has returned to “full employment” — puts spending at 26 percent of GDP, taxes at a bit less than 19 percent of GDP and a deficit above 7 percent of GDP. Future spending and deficit figures continue to grow.
What this means is that balancing the budget in 2020 would require a tax increase of almost 50 percent from the last half-century’s average. Remember, that average was 18 percent of GDP. To get from there to 26 percent of GDP (spending in 2020) would require an additional 8 percentage points. In today’s dollars, that would be about $1.1 trillion, a 44 percent annual tax increase. Even these figures may be optimistic, because CBO’s projections for defense and “nondefense discretionary” spending may be unrealistically low. This last category covers much of what government does: environmental regulation, aid to education, highway construction, law enforcement, homeland security.
Saxons? Are you ready for that tax increase?
Can We Impeach Obama Yet?
Can We Recall The Congress Yet?
UPDATE: I just found this article on The Patriot Room. Make sure to go over and read it!