Ah, the never-ending lunacy of the District of Criminals. If the true purpose of Congress and the White House was to wake up every single American in order to vote out every incumbent not following the Constitution, they are going to get their wish with their continued fiscal insanity which threatens the very stability of the nation. Weimar Republic or Zimbabwe anyone?
The Dems want to raise the nation’s credit card limit to some $14.294 Trillion while Barry wants to limit what the banks are doing. There has to be a piece of the pie in there somewhere for the federal government. Does this clock have enough spaces on it?
Upping the ante just a day after losing their 60th Senate seat, Democrats moved Wednesday to seek a $1.9 trillion increase in the federal debt ceiling and give the Treasury adequate borrowing authority past November’s elections and into next year.
Republicans were caught off guard by the scale of the increase which follows a $290 billion short-term debt increase approved prior to Christmas. “That’s just escapism of the worst sort,” Sen. Judd Gregg (R.,N.H.) told POLITICO. But Democrats countered that their only alternative would be to give-in to a Republican strategy of forcing multiple smaller debt ceiling increases, designed to bleed them politically before November.
This perception was reinforced by a meeting Tuesday between Treasury Secretary Timothy Geithner and Senate Republican Leader Mitch McConnell (R-Ky.). By going now with the higher $1.9 trillion target, Democrats are making a high-stakes gamble that the party can pull together once more to put the debt ceiling issue behind them for this election year.
“We have to do this. The alternative is worse,” said Senate Finance Committee Chairman Max Baucus (D—Mont.) in a brief interview.
President Obama plans to propose new limits Thursday on the size and investments of large banks, a senior administration official said, as the White House intensifies its push to reframe its financial reform agenda as an effort to rein in the companies widely blamed for causing the economic crisis.
Although the details of the new proposal could not be learned, the president plans to announce a series of measures aimed at limiting the risks that large banks can take, according to the official, who spoke before the formal announcement on condition of anonymity.
The White House wants Congress to incorporate the proposal into reform legislation being considered by the Senate, the official said.
Once again, nobody knows exactly what is going to be proposed, (just like the rest of the closed door meetings), so we will have to wait and see just how heinous it is going to be.
THE BOSTON TEA PARTY… SCOTT BROWN (R) 0,885,809 52% MARTHA COAKLEY (D)D: 0,793,297 47%
AP is reporting that Scott Brown has won Dead Kennedy’s seat in Massachusetts and has returned it to the people. Martha Coakley has just conceded by telephone to Scott Brown according to Drudge. (Thank You MNMajority.org and MassachusettsMiracle.com for creating a video seen over 400K times and which helped this happen.)
I am so happy that I can stop calling Dead Kennedy’s seat as such because Scott Brown has prevailed over progressive Martha Coakley for said People’s Seat in Massachusetts.
This message is meant for all members of congress and the White House
WorldNetDaily is reporting more than 8 million Pink Slips have been sent to Congress, and that for the second time, pink paper supplies have been wiped out. At least one industry is receiving honest-to-God stimulus from Congress’ actions.
For a second time, the supplies of pink paper have been wiped out across North America by a true grass-roots campaign to send pink slips to members of Congress, warning them against support for the health-care takeover, big spending, hate-crimes legislation and energy taxes.
WND got notification today of the shortage – which already is being resolved – from the printer of pink slips that have been streaming into Capitol Hill by the millions. The latest count was more than 8 million.
“The WND pink slip campaign has wiped out ALL Hammermill pink paper supplies in North America,” said a campaign official. “All pink paper resources throughout the country were pooled to ship to our printer for production of pink slips.
“Other than small quantities already in stock at print shops and retail outlets, no other pink paper is available for purchase since it is currently on backorder,” the official continued.
“Hammermill’s mills are ramping up to manufacture more pink paper, ALL designated for WND.”
The campaign, however, had stockpiled enough paper for the most recent deluge of pink slips, and the new manufacturing efforts are expected in time to meet the next surge, officials confirmed.
“We’ll go outside the U.S., if necessary,” to get enough supplies, said Joseph Farah, founder and CEO of WND.
Farah, who organized the campaign with WND columnist Janet Porter, says the campaign has been picking up since a half-dozen members of Congress held a press conference recently to announce their support of the effort – an event that was covered widely by television and print reporters.
Reps. Trent Franks, R-Ariz., Steve King, R-Iowa, Michele Bachmann, R-Minn., and Louis Gohmert, R-Texas, held a press conference with Farah and Porter outside the Capitol. The lawmakers praised the program and said it is producing results – changing the minds of some members who were backing House and Senate leadership initiatives and bolstering the conviction of those who oppose them.
“It’s an amazing feat, to get that many slips to Congress,” Rep. Steven King, R-Iowa, told WND. “If you look through them, you can index each one back to an individual. That’s powerful. There is a person behind each one of the slips.”
In addition, Sen. Jim DeMint, R-S.C., was interviewed about the campaign by Fox News Channel’s Greta Van Susteren.
“This is putting everyone on notice,” he said. “And I think this is what the American people have been doing for months now, saying if you keep spending and borrowing, you’re going to get fired.”
Reps. Tom Price, R-Ga., and Todd Akin, R-Mo., have also vocally supported the campaign.
Congress members are “talking about it, but they’re only talking about it behind closed doors and in the elevators as they go up and down and in very whispered tones,” said Price. “Because, what you hear are people saying, ‘How many of those did you get or how many people came to your office today? And what are you going to do and how are you going to vote on this?'”
Akin said: “The pink slip campaign serves as a good reminder of the unavoidable fact that every member of Congress answers to their constituents and that they ignore their voices at their own peril.”
The program was launched by WND to allow Americans to send pink slips to every member of Congress for a price of just $29.95. It warns members of the U.S. House and Senate that they could be facing a “pink slip” as early as 2010 if they vote for more spending, socialized medicine, cap-and-trade legislation and a hate-crimes measure.
The most recent paper shortage was the second occurrence. In the first week of the campaign, paper suppliers reported the campaign had completely tapped the nation’s reserves of 8.5 x 11 inch pink paper. As the last full pallet of pink paper was delivered to the printer, new supplies had to be ordered and manufactured.
The “Send Congress a Pink Slip” campaign ensures that a brief but poignant message will be delivered by Fed Ex to all 535 members of the House of Representatives and the U.S. Senate – all for a remarkably low price based on economies of scale.
The cost of each message translates to 6 cents per message – shipped by Fed Ex.
Think back, way back, all the way back to September of 2008 when Hank Paulson came out with a 3 page “plan” and told Bush that we were all doomed if the government did not bailout the mammoth banks. Remember all those Americans that started writing, calling, and faxing their representatives to tell them “NO!” and to let the sick banks fail and just the get the mess over once and for all? All that calling and resistance netted us a $700 Billion T.A.R.P.
Remember Stimulus 2.0, a whopping $787 Billion$3.27 TRILLION that we screamed “NO!” over, and they passed it anyway? Remember the $410 Billion omnibus porkulus bill that was the impetus for the Tax Day Tea Parties, which the congress passed even though people were protesting in the streets? Remember when we melted the switchboard at the capital over Cap and Tax, the House health care bill, and then the Senate health care cloture vote? And what did they do? They went against our wishes and voted FOR all of this “dollar crashing” spending.
Just 38% of voters now favor the health care plan proposed by President Obama and congressional Democrats. That’s the lowest level of support measured for the plan in nearly two dozen tracking polls conducted since June.
The latest Rasmussen Reports national telephone survey finds that 56% now oppose the plan.
Which brings me to the point of this post, the dog and pony show for health care has begun. The distraction of “maybe they won’t pass it” commentary has started. Rest assured, these asshats are going to pass some form of health care RAPE and the Spineless-In-Charge will sign it and I am betting it will happen before New Year’s Eve. You have seen the rush that the House went through, the rush that occurred in the Senate and the two Saturday votes. If you think that Harry and Nancy are going to allow 2 months of debate, you are out of your freakin’ minds. If anything, you will see legislators looking like hamsters on crack.
Here are some examples of the dog and pony show this congress is going to put on for the American people. Remember Lieberman stating he would filibuster a bill in the Senate? I don’t have to wait to see if that happens. I know it isn’t going to.
I am NOT SAYING we give up and do not call, write, email, and fax. I will continue to stand behind that peaceful, American way of dissent, because we need to be on the record as OPPOSING this continued financial rape of the American people and future generations, but I am now looking at the ways we get every single piece of clunker legislation totally repealed after we dump this congress in 2010, and this asshat pretending to be president in 2012, (or hopefully sooner).
What is about to occur on the internet, on the news shows, and in the daily newspapers will be a show to rival anything in Hollywood or Broadway. Please do not get sucked emotionally into their little game of keeping you off-balance and upset. Clearer heads need to prevail.
Can Barney Frank Dunk on Lebron? No, he cannot. Nor can anyone else in Washington. Nor can they catch passes from Ben Rothlisberger in the Super Bowl or strike out Derek Jeter in the World Series. They are not equipped to do so.
This ridiculous visual image speaks to the business malaise infecting the economy since Obama took office. The point is that politicians are equally ill equipped to run the auto industry or the health industry or the lending industry or the insurance industry — and their determination to do so is sucking all the dynamism from the entrepreneurial class in this country.
With the threat of this administration and congress, what is the possible motivation for anyone with ideas and capital to invest their time, talent and money into a risky endeavor? There appears to be none. In fact there appear to be powerful incentives not to invest any time and treasure — thus an economy with almost zero creative inertia.
For Obama voters, almost zero creative inertia means almost no one is having bright ideas, starting businesses based on them and hiring employees to help share the dream.
A professional sports league featuring Barney Frank, Chris Dodd, Dennis Kucinich and Robert Byrd is not an enterprise that can successfully draw investors or paying customers nor will it command media attention as anything resembling excellence. The entrepreneurial class in this country looks at a governing class in Washington today and sees a bunch of misfit incompetents who are determined to play starring roles in every nook and cranny of the economy.
And it is repulsive as well as disheartening. Maybe 3 of the 535 members of Congress have what it takes to keep a small business alive for a single fiscal quarter. We believe even fewer have what it takes to roll the dice and actually start one.
Yet they continue to pass laws and speak to reporters about all they are doing to create or save jobs. Yeah, right.
The Red Lemur and I have created our very first video for your perusal. We want to thank Congressman Jason Chaffetz (R) Utah for the inspiration for this piece. We hope you like it, send it around if you think it is worthy…and we suggest you put your coffee cups down…(although if coffee were to come out your nose, we would know for sure we had accomplished our purpose. If you enjoyed it, please make sure to go over and rate it so that it rises through the rankings.)
And for those of you in the Beltway; all satire aside, A. We’re mad as hell, B. We probably would not have as much time to pick on you if we had jobs, C. Can you feel us yet? We are perhaps not as stupid as you may have been led to believe. (Red Lemur)
Since this speech, Adam Kokesh has formed an exploratory committee to run for Congress, Ron Paul has endorsed him, and another “money bomb” is set for July 4th, 2009. Remember Ron Paul’s November 5th Guy Fawkes Day money bomb? If you are interested in learning more about this Iraq War Veteran, go to the following links. I, for one, was thoroughly impressed, and support Campaign for Liberty which Mr. Kokesh is a part of.
While I am asking for your financial support in this effort, I want to make it clear that I am willing to make the personal sacrifices necessary to raise the standard of our national leadership.
If elected, I will not accept the Congressional salary of approximately $170,000, but only the national average income.
It is unbearable in these difficult times, for Congress to tell the American people what is best for us economically while they vote themselves another pay raise and burden our children with impossible debt. Enough is enough! — Adam Kokesh
I picked this photo up off of Christmas Ghost. I am once again pointing out that conservatives are not fire breathing dragons, and do share some PUMA goals. I want to know why our Congress and White House are talking to the likes of Paulson, when in fact we should be talking to the most successful CFOs in the country about what to do. Stop taking advice from the folks that created and perpetrated this economic disaster.
This is exactly how I feel, and probably how numerous Americans feel about those Fannie and Freddie execs, the dems behind the meltdown, and the Wall Street bankers that bought all those bad loans thinking they were in the clear because Fannie and Freddie were guaranteed. I also think our cowardly Congress should join them on the plank for selling us, our children and grandchildren down the river to pay for something that may not even work. Thanks for that!
It is 12:40 am Pacific time and I am watching the Asian markets drop like a rock and reading articles about European banks being nationalized because our Congress did not get the job done before the Asian Markets opened bolstering some kind of confidence in the markets.
The Asian and Europeans markets are off 1-2% as of this writing. If you want to watch it happen, go here. Click on “for the text version of this page, click here” to give you streaming text of what each tabbed region is currently doing.
WASHINGTON (Reuters) – U.S. lawmakers prepared to vote on Monday on a $700 billion government fund to buy bad debt as the global financial crisis kept markets on tenterhooksby forcing European authorities to rescue troubled banks.
As investors around the world hung on every twist and turn in Washington, Belgian-Dutch group Fortis was nationalized and British mortgage lender Bradford & Bingley faced the same fate.
Fortis is the first major European bank to buckle under the financial turmoil triggered in August last year by U.S. mortgage defaults, and an early relief rally in markets at news of progress in Washington soon fizzled out.
Stock markets in Japan, South Korea and Hong Kong all retreated 1-2 percent, giving up initial gains led by financial shares. U.S. stock futures pointed to a drop at the opening bell as did European stock futures.
“It’s definitely moving toward Europe,” said Joseph Kraft, head of Japan capital markets at Dresdner Kleinwort. “It’s the beginning of the end and a necessary step, so we should see more institutions nationalized, absorbed or going into default.”
The latest upheaval will only worsen the severe strains in money markets as financial firms have all but stopped lending to each other, partly as they prepare to close their books on the third quarter on Tuesday, analysts said.
EUROPEAN BANK RESCUES
In a sign the credit crisis was spreading, the Belgian, Dutch and Luxembourg governments nationalized financial group Fortis after European Central Bank President Jean-Claude Trichet held emergency talks with government officials over the fate of one of Europe’s top 20 banks. (Make sure to click on credit crisis above and scroll down to the “U.S. Bailout Breakdown” showing the breakdown of 1.8 Trillion (700B is the start).
The governments agreed to inject 11.2 billion euros ($16.4 billion) into the banking and insurance company, which has 85,000 staff worldwide.
In London, regulators were also preparing to nationalize troubled mortgage lender Bradford & Bingley and Spanish bank Santander was in talks to buy its retail deposits and branch network.
In Germany, Hypo Real Estate struck a last-minute deal with a consortium of banks to resolve a financing squeeze, saying the credit facility was sufficient to cover its capital needs well into the future.
The U.S. banking system also faced more upheaval. Wachovia Corp is in talks with rivals to be taken over, sources familiar with the situation said on Sunday.
Citigroup Inc is among the parties in talks with Wachovia, the two sources said, and one source said Wells Fargo & Co was also in discussions.
This is probably what Paulson got down on his knees for last week at the White House. He knew this was coming if the Dems and Republicans could not get their act together and get this bill passed before the Asian Markets opened. It is a Global Economy after all.
Since I started writing this post the Hang Seng has dropped another 2% in 17 minutes. I am hoping that our market holds this morning or someone steps in and shuts it down before it implodes.
Oh hell, cruised around for more data for this article and the Hang Seng is down another 1% in the following 10 minutes. The European markets are in worse shape; 2-4% loss across the board.
The crash I am historically watching in real time is due to the myopic vision of our Congress who obviously does not understand economics very well. I know that they are making an effort to look like they are protecting the American Taxpayer, but at what cost? What is the NYSE going to do in a few hours? Everybody better start praying…