Remember In November – Billboard #2

July 18, 2010

Here’s number 2 in our series of suggested Billboards to help people “Remember In November.”

Click to view full size. You are free to download and circulate as you like.

If you missed our first billboard, you can see it by clicking here.

I would only point out that, although the Billboard is a display of satire, please don’t become complacent regarding the significance of this mid-term election. It’s one of the most important and decisive elections this country has ever faced: America is under attack from within. We’ve seen the evidence mounting:

  • After only days in office, President Obama and the Democratic Congress (backed by a few traitor Repubicrats) teamed up to ram through Congress and sign a stimulus package we were told had to be done immediately in order to cap unemployment at 8.5%. The bill was never posted for the 5 days Obama assured the American public (during the Presidential Campaign) on the Internet for us to read before he signed it. To date, unemployment has gone as high as 10% (much higher in areas of the country) and currently sits at about 9.5%. It was recently reported that only about 1/3 of the money has been spent, yet the lame duck congress (after the election and before the new congressmen take their seats in January 2011) is expected to pass yet another stimulus package. Many think Obama is using this money as a slush fund to buy support from legislators.
  • Barack Obama and Congress teamed up to shove health care reform down our throats, against the will of the majority of Americans. In doing so, the government has taken control of over 1/6th of our economy in one fell swoop. Implementation begins with new steep taxes in 2011, but actual benefits will not be provided to the masses until 2019.
  • In a stunnng accusation,  former Department of Justice employee J. Christian Adams details how the Department of Justice (under Obama appointee, Eric Holder) is racially biased against whites claiming that Holder was told by officials in the Obama administration to back off prosecutions of blacks who commit crimes against whites, but aggressively prosecute cases where white(s) allegedly have committed crimes against blacks. A black elected official in Noxubee agreed, during a deposition,  that racially discriminatory behavior against whites occurred. “But you got to understand,” he explained, “now it’s payback time.

No, what we need to understand is that we have a chance in November to START turning America’s ship back to a democracy. But we can only do it if everyone legally eligible to vote exercises that right.

Gerry Ashley


Financial Reform: The Good, The Bad and The Butt-Ugly.

July 16, 2010

You probably heard that the Financial Reform Bill just passed the Senate and is on it’s way to being signed into law by Emp-error Obama, probably some time next week.

“Yes,” you ask, gritting your teeth. “But how, exactly, does it affect me?”

Well, just the fact that it was written by Democratic Senator Chris Dodd, and Massachusetts Representative Barney Frank should have you running, screaming towards the Canadian border.  I find the irony rather horrific: one of the chief proponents of Fannie-Mae and Freddie-Mac (the two programs that are chiefly responsible for the economic mess we’re in regards to banking) is one of the architects of the legislation to get us OUT of the trouble he caused. Think about that: If you had to trade your car in because the mechanic at your dealer ruined your engine, would you turn to that same mechanic to write the service manual for your new car?

As to the impact, in some minor areas, we gain, but as is always the case when government gets involved, it’s gonna cost you at the other end… Translation: Break out the KY Jelly, folks. Try to minimize the pain.

The legislation took well over a year to develop, and it wound up taking slightly over 2,300 pages to contain it. But NOT TO WORRY!  I’m sure His Sly-ness, the Omnipotent Lord Obama will give us 72 hours to look at it on-line before signing it into law, just like he did with the stimul… uh, woops. Never mind… “Nothing to see here, folks. Just keep moving, please.”

Better yet: If you are into Masochism, download it yourself here and enjoy your week-end: The Dodd-Frank Wall Street Reform and Consumer Protection Act (as a public service announcement, I recommend using a condom while reading it).

If I may, here’s a highly condensed version of some of what you’ll find buried in this legislation:

1.) The legislation creates an agency that can seize and liquidate any bank (including those considered “too big to fail”).

The Good News: We shouldn’t get stuck paying to bail out banks for their failures as George Bush had us do.
The Bad News: It does NOT, however, control just how big a bank can grow. Recipe for disaster? Guess we’ll have to wait to find out. You know, like Nancy Pelosi’s take on health care: “We have to pass it to find out what’s in it!”
The REALLY Bad News: Hello? The government now has permission to seize any bank (and its assets) at any time, based on the whim of… the government. Translation: More power taken away from the people and given to the government (who wrote this legislation again? Hugo Chavez?)

2.) A new federal agency (under the banner of the Federal Reserve) that will impose more regulatory control over credit card companies, payday advance companies and mortgage companies.

The Good News: Perhaps more restrictions on the types and amounts of fees they can gouge customers with. Pre-payment penalties will likely be eliminated or greatly reduced on certain types of loans and mortgages.

The Bad News: Those fees are where these institutions make much of their profit. While the government presents these regulations as “consumer protection, ” that translates into “less profit” for these entities which, ultimately, means more restrictions on their service to you. Look for new fees on other services to make up the difference, harder to obtain credit cards, harder to qualify for mortgages and more restrictions on availability of payday advances…  Yeah, that ought to help the economy recover. If you’re in the construction industry, plan on selling a lot fewer houses. A LOT fewer.

The REALLY Bad News: With new regulations on mortgage companies, it doesn’t take a rocket scientist to realize mortgage money will be much harder to qualify for. With a plethora of unsold homes in foreclosure already flooding the market, that could keep the housing market depressed for years.  Couple this with an economy that’s already on life-support and a job market that is – well, for lack of a better term - flat-lining, in most parts of the country, and we could actually see a society where we could have millions of homeless people living on the streets and hundreds of thousands of empty homes sitting in foreclosure. If and when that happens, how long before the government will write (and pass) legislation allowing the government to seize homes that are sitting empty and redistribute the right to live there.

Who would have thought the pompous idiots  who helped the Fannie Mae/Freddie Mac debacle trash our economy could come up with something even more foreboding for the future? Way to go Barney and Chris! Would you like to inject us directly with poison next?

3.) The new legislation requires more transparency in the derivatives market.

The Good News: None we can actually measure. Not until the “bad” news is resolved (which the government has absolutely no incentive to do)..

The Bad News: Fill in your own sarcastic comment here about “transparency,” especially if it’s going to work the same way it has with the Obama administration.  And it probably will, because they have apparently left it up to Bill Clinton to ask for the definition of “transparency.”


4.) New limits on how much Banks  can charge retail businesses when customers use debit cards for purchases and how much they can charge for overdrafts.

The Good News: If you’re a business owner, this means less cost to you when a customer swipes a debit card to make a purchase. So this means the businesses will pass those savings on to us, right?  Nope. Not necessarily.  Nothing requires businesses to do so.

For those of us who live paycheck to paycheck and occasionally overdraft our account, banks will be forced to reduce the penalty for doing so, meaning they would be limited to how much they can gouge you when they (as comedian Gallagher would say), “charge you more of what they already know you don’t have any of.”

The Bad News: Under the old laws, businesses were required to allow you to use your debit card for ALL purchases, no matter how small. Under the Financial Reform legislation, that restriction is lifted. Look for retailers to jump on the bandwagon of having minimum amounts for purchases using debit cards. You may have to forget about buying that McDouble using the debit card. The consumer’s new credo: “Cash: Don’t leave home without it.” Look for armed robberies to increase as a result.

Even MORE Bad News: With banks making less money per transaction with retailers, reduced fees for overdrafts and other fees, look for them to make it up elsewhere. This could mean buh-bye to that free-checking or, perhaps, more or higher fees for using that debit card to obtain cash at the ATM. Where banks are concerned, you may want to keep that KY Jelly handy. If they can’t screw you one way, they’ll screw you another. And, from what I’ve seen, this 2,319 page legislation isn’t going to do a thing to end that.

Here’s a couple of videos that show various aspects of the legislation:
A) The Good

B) The Bad

C) The Ugly: A Paul Shanklin tribute to the man who helped create the banking debacle, and then in true “End of days” fashion, has co-authored the legislation that’s supposed to resolve the very problem he helped create.

Enjoy your week-end, folks. Good news: Stoutcat returns from vacation next week.

H/T Michelle Malkin

Gerry Ashley


The Abject Failure Of The Obama Presidency – Part 8

April 28, 2010

“Never let a serious crisis go to waste. What I mean by that is it’s an opportunity to do things you couldn’t do before.”   
- White House Chief of Staff Rahm Emanuel  

Note to our readers: This the 8th installment of a series called “The Abject Failure Of The Obama Presidency.” Intended to illustrate just how Obama’s policies fail us, and the Constitution he swore to uphold, it is based on The 10 tenets for establishing and maintaining democracy, written by William J. H. Boetcker and originally published in 1942. To read previous installments, just type or copy “The Abject Failure” into the search box to the right of this article, then click “Search.”  

The more research I did to support this particular tenet, the more I realized that this tenet is, perhaps, the most complex to explain and properly cover:  

8. You cannot keep out of trouble by spending more than your income.  

Photoshop by Josh Johnson

 Let me be clear about this: The United States is teetering on the edge of financial oblivion and it would be both factually incorrect and misleading to suggest the blame for this lies at the feet of the Obama administration.    

Neither the mainstream media nor Congress, nor most of the Presidential administrations over the past 40-50 years have been totally honest with the American public about this. But the numbers don’t lie, even if the politicians do: The amount of money the United States is committed to in either social programs or entitlements over the next decade is well over $100 Trillion (yes, with a “T”). Our own Alan Speakman of Grand Rants has written about this on a number of occasions. For a harsh look at the truth, read these pieces by Alan:   

This debt is principally the result of entitlements funded by Congress while you and I were not paying attention.  “Who’s going to win the playoffs?” became more of a concern to us than “What is Congress doing with our tax dollars?”  “What’s the number one song on the hit parade this week?” surpassed “Can we, as a nation, afford to do this now?” in importance. So, in a way, if you want to know who is most directly responsible for the economic crisis, we can all start by looking into a mirror.  

Even in years when administrations claimed to have a balanced budget, the deficit was, in fact, building in the background. Both political parties share the blame for this.  

In order to fully understand the nature of the beast preparing to devour our entire economy, here is a “quick-start” video to help get you up to speed. I urge you to watch it in its entirety.  When the video has finished, then please click on the link to read the rest of this installment to see how the Obama administration is heading in exactly the wrong direction… and why they are doing so intentionally.  

Read the rest of this entry »


GM’s True Lies

April 22, 2010


If you watched any television last night, you probably saw this commercial:

“We have repaid our government loan in full, with interest, five years ahead of the original schedule.”

CEO Ed Whitacre is telling us the truth, but not the whole truth. What about the other $45 billion that American (and Canadian) taxpayers gave General Motors last year, which was originally part of that loan? Why doesn’t he mention that still-outstanding amount as he so proudly touts the payback of less than 14% of GM’s unsettled debt? When do we get that money back?

[crickets]

MarketWatch is a bit more realistic about Whitacre’s announcement:

Yet for all the fanfare, this is icing on the cake — and there’s still no cake.

The federal governments of Canada and the United States are the majority shareholders in General Motors, and will be until the carmaker issues new shares to the public. We still don’t know when that will be, and Whitacre didn’t offer any new clues.

And the Associated Press reports:

The White House pointed to GM’s repayment of the loan and Chrysler LLC’s posting of an operating profit in the first quarter of 2010 as concrete signs that the bailout of the U.S. automakers was working.

In a report, they noted the American auto industry lost more than 400,000 jobs in 2008 and analysts estimated another 1 million would have been lost had GM and Chrysler liquidated. In the past nine months, the White House said the industry has added 45,000 jobs, the strongest job growth in the industry in nearly a decade.

Sorry, but given the record the White House has in their predictions, as well as their ability to accurately account for jobs “created or saved”, I’m going to take that assertion with a huge shaker of salt (until that’s outlawed, too).

Unless GM is engaging in financial shell games of a kind that would put Bernie Madoff to shame, how is it possible for a company which posted a $4.3-billion loss for the half year after “emerging” from bankruptcy last summer,  lost $30.9 billion in 2008, and has laid off nearly 65,000 workers over the past year expect to a) build good cars that consumers want to buy, b) keep up payments to unions and union healthcare trust funds, and c) pay back their debt to American taxpayers?

Just asking.

Stoutcat

H/T: BBCW


Obama’s First Year Spending Shatters Record

November 25, 2009

It should come as no surprise, but at least now it’s officially documented. From Fox News:

The federal government spent $3.5 trillion during President Obama’s first year in office. This far exceeds the spending for any other first-year president.

This is double what George Bush spent on his first year in office and light years ahead of all previous Presidents… even when adjusted for inflation.

In fairness, this includes the final 3.5 months George Bush was President and, therefore, includes the TARP bailout which was Bush’s blunder.

That still leaves close to $3 Trillion – with a “t” – spent by the President and what Nancy Pelosi described as  “the most honest, most open, and most ethical Congress in history,” as they proceeded to shove through (in the middle of the night and week-end)  a stimulus bill packed with more pork than you’ll find at Honeybaked Ham’s Headquarters.

As the President’s On-The-Job Training proceeded, he continued to act as if the way out of a recession is to spend more money that we don’t have. Maybe after his visit to China, he will have a better idea what we’re facing a couple of years down the road: An economic Tsunami he won’t be able to lay at the feet of George W. Bush.

Please, people… don’t anyone tell President Obama what comes after “Trillions.”

Gerry Ashley


Chrysler: It’s All About the Unions

May 7, 2009

 

I just read a great article by Megan McArdle, explaining — in case anyone didn’t already get this — why the Chrysler bailouts have to do almost exclusively with the unions. She makes her case eloquently, by examining other possible motives and subsequently discarding them, for good reasons:

Chrysler is a good company caught in a bad situation.  Chrysler has been a bad headache for years.  Daimler bought it for $36 billion in 1998, and actually paid $650 million to have Cerebrus take the company off their hands in 2007.

Clearly, that dog won’t hunt.

The administration isn’t kowtowing to the unions; it’s trying to prevent massive job loss.  Chrysler employs about 60,000 people.  This is a rounding error in the number of jobs that have been lost since this recession began. 

Nope, try again. Ms. McArdle lists out other possible opportunities and explains why she finds them all lacking, and ends with an elegantly simple coup de grâce:

I am unaware of any evidence that a single industrial failure has ever precipitated the kind of massive, widespread hardship that followed, say, the failure of Jay Cooke & Co Intervening to prop up a company that has been struggling for a decade is almost textbook bad economic policy. [emphasis mine]

And she’s right.

Stoutcat


Ousted by Obama (And All I Got Was This Lousy Tee Shirt)

April 4, 2009

 
Bill Dupray at the Patriot Room is of the opinion that ousted-by-Obama GM CEO Rick Wagoner is a sissy:

Let’s just get this out of the way right up front: The former CEO of General Motors, Rick Wagoner, is a spineless, gutless, cupcake. Not only did he run General Motors into the ground (from the time he took the reins as CEO in 2000, until the time he was fired by President Obama at the end of last month, GM stock lost 98% of its value), which means he sucked at his job as a car executive.

But Wagoner is guilty of an even bigger crime than that.

He allowed the United States government to take control of America’s largest privately-owned auto manufacturer. He allowed Barack Obama to kick in the door, and in one fell swoop, nationalize one of America’s oldest and greatest companies.

Dupray goes on to discuss why this happened, and is of the opinion that it’s because Mr. Wagoner took the bailout money from the government rather than making the hard decision to declare bankruptcy. It’s a good article, and well worth reading, especially this:

So Wagoner’s spineless decision to take the bailout not only resulted in a pile of wasted taxpayer dollars, Wagoner also lost his job, the company will file for bankruptcy anyway, and worst of all, Barack Obama is now the CEO of the company. All because Wagoner didn’t have the guts to say, “Thanks, but no thanks.”

My take, however, is somewhat different. Had Mr. Wagoner taken the hard step in the first place and declared bankruptcy, not only would he have lost his “golden parachute”, but he would also have lost the “reserve chute” he activated when President Obama kicked him to the curb. I think Wagoner’s decision to take the bailout money (and subsequently bail out) was based soley (or in large part) on his own self-interest, rather than spinelessness.

By sticking around as long as he could, he guaranteed himself a long comfortable retirement, thanks to GM, President Obama, and especially we the taxpayers. Or as Ed Morrissy at HotAir put it, “GM gets to pay Wagoner a fortune for not working.”

Ultimately, how many other CEOs will qualify for the “Ousted by Obama” tee-shirt, and what will the final cost to the country be?

ousted-by-obama

Stoutcat


Follow

Get every new post delivered to your Inbox.

Join 112 other followers