Thought of the day.....

The Constitution of the United States confers specific, “enumerated” powers on the Congress, and many of the things that Congress does today are not listed among those enumerated powers. On his last day in office, President James Madison vetoed what today we would call an infrastructure bill. He thought the bill was a good idea, that the country needed the infrastructure and that the federal government was the right agency to provide it, but believed that the Constitution he had helped write provided no authority for Congress to act in this way. If Congress wanted to support infrastructure in the various states, the right way to proceed was to get an infrastructure amendment into the Constitution. Barring that, nothing could be done.

From here. (Please note James Madison and my name Milton J. Madison has certain similarities) Congress and the central government of the United States has gone so far out into the territory of violating the spirit and intent of the Constitution, I think that it will be difficult to pull it back. However, no matter how difficult, it has to be done.... right away.

Quote of the day....

“In the hands of a skillful indoctrinator, the average student not only thinks what the indoctrinator wants him to think . . . but is altogether positive that he has arrived at his position by independent intellectual exertion. This man is outraged by the suggestion that he is the flesh-and-blood tribute to the success of his indoctrinators.”

–William F. Buckley Jr., Up From Liberalism (1959)-

I am one that will never trust the government, since in these kind of organizations, it is much too easy to hide inside the veil and be both guiltless and not responsible for actions. Actions in these organizations revolves around 'delivering the goods' to constituents and providing short term benefits sometimes at gigantic long-term costs.

But even more insidious is that people are trained to believe in these institutions since there are no other choices. It is truly a horrible existence being held hostage to irresponsible government that will never be able to deliver all of the things that they have promised over a lifetime to deliver.

According to the Whitehouse.....

Immediately after the quake hit the east coast of the USA, the Whitehouse, in a hastily called press conference said that the earthquake eminated from the oft cited Bush Fault. This Whitehouse has blamed the Bush Fault for several years for everything from earthquakes to bad weather to the economy and alsmost everything else that ails the nation. I guess the upcoming tussle with Hurrican Irene can also be directly tied to the Bush Fault.

The horrible destruction and lives altered due to the east coast earthquake....

The awful destructiveness to this quake has caused people to vow... "WE WILL REBUILD."




The quakes causes terrible traffic jams like this one in the Goldman Sachs parking lot as workers there panic to leave......

New word of the day......

bro·mance noun \ˈbrō-ˌman(t)s\
Definition of BROMANCE: a close nonsexual friendship between men
— bro·man·tic adjective

Origin of BROMANCE: blend of bro and romance
First Known Use: 2004

The east coast earthquake......

Shocking as it was to many people, it did not prove to be more than a mild shake.

So, our hearts and prayers go out to those that nearly lost their balance during that event.

"Capitalism is the ONLY moral system"....

A wonderful talk from Instapundit....



This is what I have been saying for a long time, that the financial crisis in the US was not a failure of markets but was caused by the US government. Bad economic policy will lead to back economic outcomes. Doubling down on the same bad economic policy will lead to the same but worse outcome later.

Why was there so much trouble with the banking system even though it is one of the most highly regulated businesses on the planet and compare this to technology businesses that are not regulated at all. there was no wholesale collapse in these businesses and they continue to innovate and create new, better and cheaper products. All of this without government help.

Additionally, non-intervention by government and absolutely free markets, as this fellow argues, is the only moral system since at its core is the liberty to think for oneself. Capitalism is the only moral system since this system allows people to think, create and innovate on their own as free people.

Thought for today.......

Question: What’s the difference between a Federal Jobs Creation Program and Kim Kardashian’s wedding?

Answer: Kim Kardashian’s wedding creates jobs.

10 reasons why the US will not recover from this depression....

I am a little bit more optimistic than this fellow but its important to recognize that our current economic miasmia and its roots (trunks and leaves too) are completely the fault of a leviathan central government and its intervention in our lives. Here.

More banks refusing American customers overseas.....

This is the unintended consequence of the arrogance of the American government that is demanding that foreign financial institutions comply with a raft of new rules that, in many cases, are not allowed by local laws.

As a result, there has been and will continue a wholesale refusal by banks in doing business with both individuals and companies owned and managed by Americans. The latest....

With the announcement last week from one of our major local banks, HSBC Private Bank Bermuda that they would no longer support accounts owned by US citizens, Bermuda residents with dual-citizenship with the United States, and green card holders living in Bermuda, the concerns elucidated in many of my earlier columns regarding US tax compliance have come to pass.

From here. HSBC is one of the largest financial institutions in the world and seems to be deemphasising its American businesses and its business with Americans. Since there is so much to do in other countries with their citizens, its no surprise that companies act in the best interests of their shareholder and ALL of their clients and move out of troublesome and problematic markets.

The biggest problem, as i see it, is that the US government will only increase the meddling in affairs of foreign institutions and these institutions have to react to these new interventions.

How does one destroy a robust economy?

Let the US government run it....

Now, class, why did the 2008 economic collapse happen? You there, waving your teleprompter: Mr. Obama: what say you? George Bush? Wrong answer. I’ve been over this before. Review an earlier reading assignment: “Who caused the global economic crisis (Hint: it Wasn’t George W. Bush“). Here’s the formula:

1. Make $1.5 trillion of risky loans to people you know are unlikely to repay them;
2. Allow financial institutions to slice, dice, and repackage the loans, leveraging them up to 30-1;
3. Require financial institutions to value their assets according to strict “mark-to-market” rules, thus denying businesses needed flexibility during a crisis;
4. Impose onerous new regulations not only on financial institutions but on U.S. business across the board;
5. Keep talking about raising taxes so people and businesses pay their “fair share,” even though 43.4 percent of those who file pay no income tax at all;
6. Create an economic leviathan in the form of health care legislation that will simultaneously worsen health care in the U.S. while also making it wildly more expensive;
7. Keep emphasizing “green” jobs and “green” energy production at a time when unemployment is above 9 percent and energy costs are skyrocketing;
8. Invest billions of dollars of the taxpayers’ money into failing private businesses with huge union obligations to keep the business going for a while longer so that the unions can squeeze more money out of the taxpayers.
9. Ignore the warnings of credit-rating agencies when they warn you are spending too much money and do not have a credible plan to address your skyrocketing deficits and then blame them when, months later, they downgrade your credit rating.

From here. Government regulation and intervention has completely destroyed the ability of the market to allocate resources. So, money flees and hides since no one knows what next cockamamie new idea that the leviathan will come up to 'solve' the problem that they created.

If Europe evaporated, who would notice that anything is different?

Probably the most useless people on the planet are the self important Europeans. If the place evaporated overnight, I doubt anyone would notice excepting maybe Chinese tourists looking to purchase Birkin handbags.

Good luck to a completely morally bankrupt place inhabited by arrogant nihilists. Glad to not be the worthless you. Lookee here.

The American government, addicted to the money that Americans earn and save, is trying desperately to ruin the lives of those that live overseas.....

Addicted to American's earnings and wealth, like a heroin addict is addicted to their drugs, the American government is trying desperately to squeeze more money out of citizens living overseas and making life much more difficult and miserable for everyone in the process.

It is important to understand, that overseas Americans have additional government filing requirements such as declaring all foreign financial accounts including those accounts that these people have signatory authority over even if they do not not have an ownership interest. Also, Americans have difficult forms to fill out and file for equity interests in private companies so that the IRS can pierce the corporate veil and try to tax Americans for these interests if they do not deem them to be legitimate in their eyes.

The arrogance of the American government is amazing as I once experienced when meeting with IRS representatives that American living overseas are considered all 'guilty' of cheating by IRS agents and have to 'prove' their innocence. When I objected and said that we should tar and feather this clown and frog walk him through the streets of Hong Kong, he defended himself saying that he is only carrying out the laws of Congress. I offered to do the same thing to them too if they come to Hong Kong.

Now, the American central government is leveling onerous regulations on foreign financial institutions that require them to report assets of Americans directly to the American government......

FATCA is a blunt instrument for which foreign banks have no choice but to each spend tens of millions of dollars to help the U.S. enforce its own tax law," said Scott Michel, a tax lawyer at Caplin & Drysdale in Washington, D.C.

From here. So what, some may say, but there is always the law of unintended consequences to deal with. Foreign financial institutions have always been reluctant to open accounts for Americans and are now refusing to do so for Americans now due to the onerous new rules....

In June, the private banking arm of HSBC (LSE:HSBA.L - News) said it would stop offering services to U.S. residents outside the United States because of the cost of complying with the rule. That month, Michael Ambuehl, Switzerland's secretary of state for international tax and financial matters, told a conference in Zurich that FATCA showed that "Switzerland is becoming a target of intense international greediness." Even the European Commission has objected, and experts say other countries may create their own FATCA-style regimes for U.S. banks or withdraw from U.S. capital markets.

In some jurisdictions, due to the complexity and risks posed to their other customers, banks are even closing accounts of American customers and do not want to offer services to them at any price. This is a particular problem in Switzerland were some private banks such as Lombard Odier has refused to take American clients for decades as they considered the global tax regime and the aggressiveness of the American government with its citizens overseas too much of risk to their business. This has proven prescient and now Americans may find themselves 'global pariahs,' people that will have increasing difficulty preforming normal banking and trading transactions for legitimate businesses....

U.S. citizens may become global “pariahs” when a law forcing foreign banks to report their accounts takes effect, according to Switzerland’s oldest bank.

Americans “risk becoming pariahs of the global banking system through the fault of their own government,”....“The risks run by financial intermediaries promising to respect these rules are considerable,” said Hummler, who is also chairman of the Swiss Private Bankers Association. Banks “could be held liable for making a commitment” that a client isn’t subject to U.S. tax, he said.

St. Gallen-based Wegelin, founded in 1741, advised clients 16 months ago to sell U.S. assets because extended reporting requirements may saddle investors with tax obligations for themselves or their heirs. Wegelin, which is an unlimited partnership, has said that it can’t afford the risk of increased liabilities at time when American tax authorities are cracking down on international banks.

Form here. Why should a foreign firm hire Americans that come with all kinds of government baggage such as foreign taxing requirements, foreign banking problems and onerous reporting requirements if hiring nationals of other countries does not come with these requirements. How about the legitimate businessman that tries to export goods to other countries but cannot open bank accounts or finds it difficult to operate in these jurisdictions due to onerous US reporting requirements? Why bother?

The American government through all of its machinations has so overstepped it bounds that it will destroy opportunity for American citizens and businesses overseas. The arrogance of the American government is that they somehow think that these foreign countries or businesses HAVE to do business with the US but in actuality they do not. The USA is pursuing an aggressive path to irrelevance. The once great nation is becoming a nation of serfs where not just the citizens but everyone in the world is bound to serve the leviathan.

American's right to bear arms......

Second Amndement of the Bill of Rights to the American people: A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.

Yes, these rights are inalienable rights: Rights which are not capable of being surrendered or transferred without the consent of the one possessing such rights.

1. An armed man is a citizen. An unarmed man is a subject.
2. A gun in the hand is better than a cop on the phone.
3. Colt: The original point and click interface.
4. Gun control is not about guns; it's about control.
5. If guns are outlawed, can we use swords?
6. If guns cause crime, then pencils cause misspelled words.
7. Free men do not ask permission to bear arms.
8. If you don't know your rights, you don't have any.
9. Those who trade liberty for security have neither.
10. The United States Constitution (c)1791. All Rights Reserved.
11. What part of "shall not be infringed" do you not understand?
12. The Second Amendment is in place in case the politicians ignore the others.
13. 64,999,987 firearms owners killed no one yesterday.
14. Guns only have two enemies; rust and politicians.
15. Know guns, know peace, know safety. No guns, no peace, no safety.
16. You don't shoot to kill; you shoot to stay alive.
17. 911: Government sponsored Dial-a-Prayer.
18. Assault is a behavior, not a device.
19. Criminals love gun control; it makes their jobs safer.
20. If guns cause crime, then matches cause arson.
21. Only a government that is afraid of its citizens tries to control them.
22. You have only the rights you are willing to fight for.
23. Enforce the gun control laws we ALREADY have; don't make more.
24. When you remove the people's right to bear arms, you create slaves.
25. The American Revolution would never have happened with gun control.

Those who hammer their guns into plows will plow for those who do not." ~ Thomas Jefferson

(Understand now why gun-grabbers want gun control so badly! )

Hopefully nationalized heathcare will be allowed to die the death that it so justly deserves.....

The court decision that reverses the individual mandate in the Obamacare law. Here.

Charles Krauthammer, another national treasure has this to say about the 'ugly' and dysfuntional political climate Americans face today....

Krauthammer argues that the recent ugly negotiations in Washington is what we should expect and is working as intended....

The process has been messy, loud, disputatious, and often rancorous. So what? In the end, the system works. Exhibit A is Wisconsin. Exhibit B is Washington itself.

Fights over the out-of-control budget in Washington and the sea change in Wisconsin where fiscal conservatives moved to confront their states’ unsustainable pension and health-care obligations portend to further drastic actions in the future. Additionally, the central government has been arrogantly injecting itself in nearly every aspect of American life for the past 70-80 years thinking that it can do a better job then the American people themselves by themselves and this too has to change since government adventurism in commerce and regulation has been a complete and total failure.

The believers in big controlling central government are fighting not just conservatives but reality as governments around the world are facing their Marxist demons. Governments have not just failed on delivering what they promise but are and will lower people's living standards in through these interventions.

Sensible Americans see what we have done and are fighting to take their lives back from the leviathan. Eventually, the people will win, but it will either be done peacefully, within the system or violently outside.

Krauthammer saliently argues that the system is working....

Of all the endlessly repeated conventional wisdom in today’s Washington, the most lazy, stupid, and ubiquitous is that our politics is broken. On the contrary. Our political system is working well (I make no such claims for our economy), indeed, precisely as designed — profound changes in popular will translated into law that alters the nation’s political direction.

And he notes.....

Notice how the loudest complaints about “broken politics” come from those who lost the debate. It’s understandable for sore losers to rage against the machine. But there’s no need for the rest of us to parrot their petulance.

The hope offered here is a reason to be optimistic about the future and hopefully, the doubling down on socialism offered by the likes of the Obamessiah will finally bury the beast, the leviathan of bad government.

From here.

Hope for the nation....

The 11th Circuit Court found that the individual mandate in Obamacare is unconstitutional. This is a big victory for Americans since if the central government can compell you to buy a service or product using then it will eventually lead to no limit of Federal powers....

It cannot be denied that the individual mandate is an unprecedented exercise of congressional power. As the CBO observed, Congress “has never required people to buy any good or service as a condition of lawful residence in the United States.” CBO MANDATE MEMO, supra p.115, at 1. Never before has Congress sought to regulate commerce by compelling non-market participants to enter into commerce so that Congress may regulate them. The statutory language of the mandate is not tied to health care consumption—past, present, or in the future.

Rather, the mandate is to buy insurance now and forever. The individual mandate does not wait for market entry. (p. 167)

•In another argument familiar to readers, the Court also pointed out that to accept the administration’s interpretation of the Commerce Clause would mean a limitless federal power:

The federal government’s assertion of power, under the Commerce Clause, to issue an economic mandate for Americans to purchase insurance from a private company for the entire duration of their lives is unprecedented, lacks cognizable limits, and imperils our federalist structure. (p. 171)

From here.

Rolling back the power of the State is imperitive in regaining the libertyies that made the nation great.

MIDDLE AGE TEXTING CODES....

ATD -at the doctor.
BFF -best friend fell.
BTW -bring the wheelchair.
BYOT -bring your own teeth.
FWIW -forgot where I was.
GGPBL -gotta go, pacemaker battery low.
GHA -got heartburn again.
IMHO -is my hearing aid on?
LMDO -laughing my dentures out.
OMMR -on my massage recliner.
ROFLACGU -rolling on floor laughing and can't get up.
TTYL -talk to you louder!

Smartest Man in the Room™.......

It would have been better for everyone if he had stayed in academia....

Obama isn’t just a failed leader. Unlike Carter, the Smartest Man in the Room™ has proven unable or unwilling to learn on the job. Obama can’t recognize mistakes — even though the evidence is as plain as last month’s hideous jobs report. He will continue to demand that reality conform to his theories, no matter what damage he does to this country. He doesn’t dogde, he doesn’t weave — he keeps pursuing failure in the face of failure.

Why? I don’t care why. Maybe it’s his ego. Maybe he really believed all those stoned-out-of-his-mind late-night Harvard bull sessions. Maybe he really is trying to drive this country into the ground, for whatever reason. Maybe, Barack Obama is just a dumbass.

From here. An ideologue is an ideologue. People are comparing him to Jimmy Carter, the most famous modern failed presidency. Carter is not credited with the positive actions that he took, but this is primarily because he was to cerebral and not much of a person one can rally behind. Bad salesman.

The Obamessiah is similar in certain respects; not a leader. One of his Whitehouse operatives famously said that he 'leads from behind.' Not just from behind, but does not take a stand, does not take charge and allows things to happen so, I think that he can lay blame elsewhere. The people of the US did not hire him to do this and he is grossly failing the American people.

Thought for today.......

For nearly five years we’ve had massive and unprecedented run ups in government spending and debt in the United States and around the world. We’ve had vast expansion of government powers over banks, energy policy, financial markets, health care and other sectors. We’ve had staggering and unprecedented monetary policy interventions across Europe and in the United States. All of which have produced no growth and lousy job numbers, with the likelihood that the debts may not be repaid as a result. And the charge is laid that a small cadre of congenitally ineffectual free market libertarians is the cause of it all.

from here. So, according what we have heard from the economic and political left is that it is the Tea Party that is the problem with the US now. But as explained above, we have had huge run ups in:

1. Government spending
2. Government debt
3. New and increased regulations on energy, financial markets, banks and healthcare
4. Gigantic central bank interventions

And all of this has failed miserably to produce a stronger economy and YET, IT IS THE TEA PARTY THAT CAUSES THE PROBLEM? I honestly have not heard anything this stupid and arrogant in a long long time.

WOLF: Obamacare or America? - Washington Times

Thought of the day....

America is proving true the prophetic words of former British Prime Minister Margaret Thatcher: “The problem with socialism is that eventually you run out of other people’s money.” What America’s liberals do not understand is that there is one fate far more cruel than not receiving other people’s money: It is being falsely promised that you will receive other people’s money in the first place. It’s time politicians quit making promises they can’t keep with money they don’t have. It’s time we be honest about the severity of this patient’s condition.

Obamacare will end. The only mystery now is how. Downgraded America has simply run out of other people’s money. Obamacare’s last gasps will either be at the hands of responsible leaders with the strength and courage to unshackle America from it or with the outright financial collapse of America itself under the crushing burden of the unfunded-liability monster, but it will happen. It’s Obamacare or America. I choose America.

The United States government will never be able to deliver on all of the promises that it has made to its own people. We are beginning to see the kind of economic weakness that is one of the unintended consequences of socialism and this will be in the nail in the coffin of that same socialism. We cannot have a creative vibrant business climate when at the same time the fruits of these labors are diverted to others.

WOLF: Obamacare or America? - Washington Times

Rick Santelli, an American treausre....

Always tells it like it is.....

"Blame the Tea Party? Geez, no wonder Kerry did so well in an election. If it wasn't for the Tea Party, they would have passed the debt ceiling thumbs up, we would have been rated BBB."

Reality is, tha without the tea party, the debt ceiling would have been routinely passed and the government would not have bothered to even try to cut spending.

Strong improvement ahead for the stock market.....

Corporate profits, the "mother's milk of stocks, business success and job creation," remain at record high levels.

There are many positives for stocks as outlined in this article. However, hostile government policy towards business, those that work, create and earn have held back the nation's performance. If and when we get the current Marxist idiot out of the Whitehouse and the socialists out of congress, the nation and its business can breathe a sigh of relief and is posed for a strong improvement.

Quote of the day.....

Socialism only works in two places: Heaven where they don’t need it and hell where they already have it.

-Ronald Reagan-

Why This Crisis Is Different From the 2008 Financial Crisis - WSJ.com

Very interesting synopsis on where we stand with this new developing financial crisis. This fellow argues that it comes from reduced confidence in government's ability to create economic stability. I think that he is correct excepting one important and critical point, governments have never been able to 'create' stability. Markets, are inherently unstable and self correcting however governments of the past many decades have increasingly intervened in markets and this has led to allocations of resources and moral hazards where market participants assume that governments will step in to protect them or the 'system'.

Unfortunately, no government is either smart enough to pull this off or big enough to pull it off continuously. Markets will always adjust to these new normals and divert resources away from the most ideological central planner and embarrass them.

Why This Crisis Is Different From the 2008 Financial Crisis - WSJ.com

Quote of the day....

"A robber who justifies his theft by saying that he really helped his victims, by saying that his spending gave a boost to retail trade, would find few converts; but when this theory is proposed by the government and clothed in Keynesian equations and impressive references to the “multiplier effect,” it unfortunately carries more conviction."

-Murray Rothbard-

Here.

Can capitalism support socialism as it is currently contemplated?

Absolutely not. Current Euro style socialism was a demographic indulgence where there were a large population of young healthy people that were in the most productive part of their lives supporting a relatively small population of elderly and other collectors.

Government promised these younger people, 'pay in now and we will take care of you in your time.' However, this promise was fantasy and the math just does not work. Now, we are in the first years of this large population of babyboomers entering their entitlement collecting period and in a very short time, the money as promised will run out.

Capitalism is the antithesis of this kind of Marxist physics of resource diversion. Resources cannot diverted to these parasitic socialist ends without eventually destroying host, the non-public economy. Its a Ponzi-like house of cards and it is starting to collapse.

So, now we have a bunch of people in the US that are saying 'wait a minute. Lets figure out what we need to do.' These are the Tea Party people. They have been been vilified since they are questioning the conventional wisdom in which millions have their lives invested. I think that it is reasonable and necessary to ask, 'what are we doing here?'

The money quote....

Contrary to what the Obama Democrats claimed, the face-off in Congress did not mean that the nation’s politics were “dysfunctional”. The politics of the US were functioning precisely as the Founding Fathers intended: the legislature was acting as a check on the power of the executive.

The Tea Party faction within the Republican party was demanding that, before any further steps were taken, there must be a debate about where all this was going. They had seen the future toward which they were being pushed, and it didn’t work. They were convinced that the entitlement culture and benefits programmes which the Democrats were determined to preserve and extend with tax rises could only lead to the diminution of that robust economic freedom that had created the American historical miracle.

From here. Hopefully, Americans will come to their senses and recognize that socialism in any form is a fool's errand. That it will neither work nor will it be sustainable. Welcome to reality.

S&P downgrade decision in print....

here.

National treasure, Rick Santelli tells it like it is....

From a recent post that I read.....

Want to see a microcosm of everything that’s been wrong with American economic policy over the last couple of years? Watch this exchange between Ezra Klein and Rick Santelli from earlier today on MSNBC’s Morning Joe. Santelli, whose February 2009 on-air rant over fiscal and economic mismanagement inspired the start of the Tea Party, gets exasperated with Klein after the Washington Post columnist talks about money moving around “unfairly”:

From here. Yes, Ezra Klein is a Democrat. But it is truely amazing that these clowns are yapping that a solution to the debt problem is inflation. That is a huge tax on the poor but more importantly provides cover to these very same socialists for their sins of stupidity. Furthermore, an inflationary monetary policy will only hasten the decline and collapse of the American govrnment since the nation will no longer to be able to pay the interst in the debt in an inflationary environment.

As the leftist socialist engineers in there ivory towers think about their next debilitating steps and dig the nation into an even bigger hole than it is in now, some people already know that it will not end well.

Rick has been warning of us since the early days of the socialist Obamessiah administration and again tells the feckless talking heads the cold hard truth.

Government through this concept of 'unfairness', has intervened in markets and have made markets less efficient, more costly and therefore changed incentives and the behavior of market participants. Eventually, these markets fail and most of the time in cataclysmic fashion as the US housing market did in the past few years.

Credit rating agency cuts USA government debt rating....

The 1 notch downgrade from AAA to AA+ is not the end of the world. My opinion, this change is reflective of the profound difference between the obligations that the US central government has promised to pay and what it has the potential to collect in taxes. These are completely out of balance and will eventually lead to a default of debt obligations of the nation. This is the path that the nation is on and this downgrade is reflective of this path.

The administration of the Obamessiah in a juvenile CYA move is claiming that the rating agency made a $2 trillion error in its calculations and there were last minute negotiations with the rating agency over this. This obviously did not impress the rating agency that sees that there is very little seriousness in even the recent battle over cutting spending.

Consider these things in the recent budget battle; The increase allows the government to immediately increase borrowing by $400 billion. Then in a few months another $500 billion can be borrowed. Starting in October 2012 the government will cut spending by $917 billion over ten years, but only $21 billion is cut in fiscal year 2012 that starts October 1, 2011. The spending cuts come from discretionary spending, which does not include Social Security, Medicare, or Medicaid. The rest of the cuts come later after the economy has supposedly started to grow at a more rapid clip. Hardly any spending cuts occur before 2014. A Congressional committee will be formed right away and will consist of 6 Republicans and 6 Democrats. They will supposedly find another $1.5 trillion in spending cuts by Thanksgiving and the deal will be given a thumbs up or down vote by Christmas. If the deal does not pass then automatic spending cuts of $1.2 trillion, mostly from defense and domestic programs, will kick in. However, Medicare, food stamps, unemployment insurance, and Social security will not be part of the automatic cuts. Lest we not forget, Medicare, Medicaid, income support, and Social security are where the really big spending occurs (60%).

The above is truly an underwhelming plan. There are no true cuts in spending since the outsized spending is happening right now. The 'plan' is to cut future spending growth and not actually cut spending. Its a stupid and silly way to manage a country's finances.

The USA will never be able to get its spending under control and further downgrades will happen over the coming years. But this will not impact as many in the media and Obamessiah itself as they have argued that rates on mortgages and credit cards will rise. Rates will rise almost imperceptibly over the coming future but the largest impact on be on the rates that US central government will definitely rise. There will be market dislocations since those investors that have limitations on what they can buy or hold to only AAA securities, will not be able to hold US treasury securities and there are just not enough other securities in existence to meet these needs now.

Brace yourself for downgrades in the future and a government that will be strained to fund itself at the incredible levels of borrowing that it requires and the amount of debt everywhere that it has to refinance. We will have a time in the coming years where a US treasury auction will fail and the hard reality of truth finally reaches the insulated prima donnas that populate Washington and the whole nation ends up suffering.

Thebeauty of being mocked by liberals that orbit other planets, like Uranus....

Well, I am bristling that we Republicans are being called 'antediluvian' by effete liberals. Wow, how dare they. But then, the question comes to mind, what do these former Dead-head liberals with their flashback vernacular mean by such unnecessary comments? Welllllll, antediluvian means......

an·te·di·lu·vi·an (nt-d-lv-n) adj.
1. Extremely old and antiquated. See Synonyms at old.
2. Bible Occurring or belonging to the era before the Flood.

I am horrified by this. So, antediluvian meaning so long ago, or during a time that is so morally bankrupt that God had to cleanse the earth?

Well, God may be planning to cleanse the earth or the earth may be cleansed by a cathartic drowning in American debt that ends up suffocating all life in its awful floods. Hope not.

But it appears as if the offensive wording has been scrubbed from the opinion title from....

The Antediluvian Republicans Are the Problem - Jacob Weisberg, Slate

to the milquetoast....

Lessons of the Crisis
The debt-ceiling debacle revealed that politics is broken in every possible way and there's no point in explaining complicated matters to the American people.
By Jacob Weisberg

Wake me up when these people are finished with their analysis designed for the digestion of the limousine liberals for their important cocktail party prattle. The original antediluvian seems to also to have been scrubbed out of the original opinion piece. Actually, i mind not that I am called one that hearkens back to a previous time, one where family, neighbors and community where the true core of American life where individual responsibility and other 'old fashioned' ideal were promoted and lived. But what is with you people these days? Call a spade a spade and get on with it.

From here.

For all of you leftists that insist that there should be higher taxes.

No one is stopping you, anyone can donate money by sending a check to:

Gifts to the United States
U.S. Department of the Treasury
Credit Accounting Branch
3700 East-West Highway, Room 622D
Hyattsville, MD 20782

The money will go to the general fund. It’s tax deductible.

If one wants to pay down the national debt, one can mail a check to:

Bureau of the Public Debt
P. O. Box 2188
Parkersburg, WV 26106-2188

There. That solves all of the nation's problems.

Probably one of the stupidisit and least optimisitic Op-Eds that I have read in a long long while.....

These guys are not just hysterical in the face of this denuding of the leaves of socialist weeds but just amuse me in their self important 'analysis' of the Washington battles. Of course this kind of nonsense is to be found in the statist New York Times but it is shocking in its lunacy. According to the frothing-at-the-mouth left, tea partiers, those people that think that people AND NATIONS should and will be forced eventually to live within their means are bashed with anti-Muslim rhetoric.....

These last few months, much of the country has watched in horror as the Tea Party Republicans have waged jihad on the American people.

Here. The socialist universe continues to unravel in Europe and now in the USA as 'other people's money' runs out. It will only get much worse and even this recent spending cut is just a small down payment on the eventual defunding of mis-guided government programs that has to take place since these programs not only cost too much but will no longer be able to deliver what is being promised. This is the beauty of the Presidency of the Obamessiah as his doubling down on socialist central government policies come in the teeth of complete failure of these same programs to deliver. It could not have happened to a nicer or more deserving guy.

Blog post (headline or whatever) of the day.....

Plus this: “Incidentally, nice bit of Orwellian doublethink to call the grass-roots, libertarian-oriented Tea Party ‘Totalitarian.’ This has to be the first ‘Totalitarian’ movement in the history of mankind that, if it gets everything it wants…will leave you the hell alone.”

From here. There is a gross misunderstanding among Democrats as to what liberty really means.

Quote of the day....

The crippling truth of the Obama presidency is the pessimism of the man, the low expectations he has for this republic. He had not come forth to awaken this country to its stirring first principles, but to manage its decline at home and abroad. So odd an outcome, a man with an inspiring biography who provides no inspiration, a personal story of "The Audacity of Hope" yielding a leader who deep down believes that America's best days are behind it.

From Fuoad Ajami Op-Ed piece in the WSJ, here. Personally, I never liked the person. I think that he is nothing more than an empty suit that unfortunately was able to fool Americans to think that he was like them. But he is not like us, he is nothing more than a big government, redistributionists that is nothing more than a typical European socialist. I find these kind of people and him, in particular, repulsive.