Archive for September, 2008

30
Sep
08

best thing about bailout / market collapse

is that both politicians and voters should now be able to understand the TRUE opportunity costs of spending $3 trillion in Iraq vs. what we could of used that money for at home….SAY maybe buy UP ALL bad mortgages and still have a TON left over to spend on infrastructure, health care….stuff that actually creates economic activity back here at home.

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30
Sep
08

http://nocashfortrash.org/

i guess this website had a hand in defeating the bailout today. pretty powerful example of grass roots political action. makes emailing you’re congressperson a snap.

http://nocashfortrash.org/

http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=PR&date=20080929&id=9204295

30
Sep
08

the speech that killed the bailout

the democrats are not really in a position to criticise “how we got here today”. bubba helped inflate fannie and freddie in the 90’s. however you cut this whole drama, both parties look pretty bad.

29
Sep
08

cautionary tale around state of banking

just saw this clip of jim cramer talking about a letter he received from an angry viewer today.

cramer had the ceo of wachovia on two weeks ago; he shows clips from the interview showing bob steel saying that wachovia only had $10 billion in sub-prime loses and that “they’d be fine”. turns out they had $40 billion in loses, enough to sink the bank, which happened today. we’ll, here we are seeing wachovia go under/assets bough-out by citibank. stock should go to zero tomorrow. stock dropped to 1 cent today from $15 the week of the interview.

if the bloody ceo didn’t know or is lying about his ‘strong bank’, then what does that really say for the whole system??? if the american economy is really as paper thin its appeared the last two weeks, time to throw out old ‘system’ and start a new…i guess that’s how revolutions happen…

the takeaway from all this is that, at the end of the day, everyone is just guessing/making it up as they go along – this whole financial mess really drives that home.

29
Sep
08

ron paul speaks to why the bailout failed

even pro-bailout blogs are now posting this clip. its like this whole crisis has proven everything ‘crazy uncle ron’ has been saying for the last 20 years….the guy’s a broken record but apparently people are starting to finally listen.

28
Sep
08

tina fey as sarah palin – round 2

Vodpod videos no longer available.

more about “Tina Fey As Sarah Palin: Katie Couric…“, posted with vodpod

 

28
Sep
08

wow – maybe i’ll read peter schiff’s book

here’s a two year old clip from cnn of pundits rapping about housing market. peter schiff is the bearish guy who speaks at the start. side note – he was also part of ron paul’s campaign. here’s the link to his book http://www.amazon.com/Crash-Proof-Economic-Collapse-Sonberg/dp/0470043601/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1222565049&sr=8-1




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