Sunday, May 30, 2010

Memorial Day 2010

COTG hopes that you have a pleasant Memorial Day filled with fun and family.

During your parades, picnics, barbeques and time with family members and friends, please take some time today to remember those who sacrificed so much to preserve our liberty and our sovereignty. The best way to honor them is to continue to be vigilant to protect our freedoms and rights from those who would take them from us both from within, as well as from outside of, our borders.




Memorial Day, originally called Decoration Day, is a day of remembrance for those who have died in our nation's service.

Memorial Day was officially proclaimed on 5 May 1868 by General John Logan, national commander of the Grand Army of the Republic, in his General Order No. 11, and was first observed on 30 May 1868, when flowers were placed on the graves of Union and Confederate soldiers at Arlington National Cemetery.
Let us, then, at the time appointed gather around their sacred remains and garland the passionless mounds above them with the choicest flowers of spring-time; let us raise above them the dear old flag they saved from dishonor; let us in this solemn presence renew our pledges to aid and assist those whom they have left among us a sacred charge upon a nation's gratitude, the soldier's and sailor's widow and orphan.


In Flanders Fields
John McCrae, 1915.

In Flanders fields the poppies blow
Between the crosses, row on row
That mark our place; and in the sky
The larks, still bravely singing, fly
Scarce heard amid the guns below.
We are the Dead. Short days ago
We lived, felt dawn, saw sunset glow,
Loved and were loved, and now we lie
In Flanders fields.

Take up our quarrel with the foe:
To you from failing hands we throw
The torch; be yours to hold it high.
If ye break faith with us who die
We shall not sleep, though poppies grow
In Flanders fields.


In 1915, inspired by that poem, Moina Michael replied with her own prose:

We cherish too, the Poppy red
That grows on fields where valor led,
It seems to signal to the skies
That blood of heroes never dies.

Ms. Michael conceived the idea to wear red poppies on Memorial day in honor of those who died serving the nation during war. She was the first to wear one, and she sold poppies to her friends and co-workers. The money she made went to benefit servicemen in need.

Friday, May 28, 2010

Union Pension Bailouts Coming


American Taxpayers are going to take another hit.
Looks like the Obama administration is looking to throw their union friends yet another bone! And a big one at that!

The Congressional addiction to bailout spending IS bankrupting America and its taxpayers.

The latest proposal is a bailout scheme for union pensions, which are underfunded by $165 Billion.

Moody’s rating service has found that large multi-employer pension funds are underfunded by $165 billion. This includes funds that either pay or secure the retirement for many Teamsters, AFL-CIO and SEIU members, and other large, politically connected unions.

Here's a report from Capital Research entitled,"Union Pensions In Crisis"
Last September Moody's Investor Services seconded [the Hudson Institute's Diana] Furchtgott-Roth in warning about the perilous funding condition of multiemployer defined benefit plans. Its report, Growing Multiemployer Pension Funding Shortfall is an Increasing Credit Concern looked at the Labor Department's Form 5500 for 126 multiemployer plans in 2007. With 2008 information yet unavailable, the data represented the best look at the majority of assets and obligations for all multiemployer plan. Moody's remarked, "despite the limitations in the data a very stark picture emerges." The 2007 data showed the plans overall were only 77 percent funded and had a total underfunding of $87 billion. By contrast, comparable single employer defined benefit plans were funded at 101 percent.

But what about the condition of defined benefit pension plans after the financial meltdown at the end of 2008? Moody's estimated that funding levels for the single employer plans it examined had fallen and now were only at 75 percent. As for multiemployer plans, Moody's warned that "when data for year end 2008 is finally released, it will probably show substantial deterioration in asset values during 2008." It estimated that the multiemployer plans surveyed from 2007 would be only 56 percent funded. In other words, they would be underfunded by about $165 billion dollars.

and another related report is entitled ‘No’ to union pension bailout.

Pennsylvania Democrat, U.S. Sen. Robert Casey's bill (S. 3157 - ‘‘Create Jobs and Save Benefits Act of 2010’’ ) is merely a transfer of Union pension debt over to the shoulders of American taxpayers. Whether just a piece of it ($8-10 Billion), as Liberals want us to believe, or the whole thing - We The People shouldn't be funding ANY of IT!

CALL YOUR CONGRESSMEN TODAY,
AND TELL THEM TO SAY NO TO UNION PENSION BAILOUTS!

IN CT:

Senator Chris Dodd (D- CT)
(Tel) 202-224-2823
(Fax) 202-224-1083

Senator Joe Lieberman (I- CT)
(Tel) 202-224-4041
(Fax) 202-224-9750

Representative John Larson (D - 01)
(Tel) 202-225-2265
(Fax) 202-225-1031

Representative Joe Courtney (D - 02)
(Tel) 202-225-2076
(Fax) 202-225-4977

Representative Rosa L. DeLauro (D - 03)
(Tel) 202-225-3661
(Fax) 202-225-4890

Representative Jim Himes (D - 04)
(Tel) 202-225-5541
(Fax) 202-225-9629

Representative Chris Murphy (D - 05)
(Tel) 202-225-4476
(Fax) 202-225-5933


Can we please vote these clowns out in November????

Support sane government fiscal management.


(H/T Susan K, FCTO)

Thursday, May 27, 2010

Possible Sestak Bribe Is An Impeachable Offense

And the hits keep on coming.... but where is the Congressional investigation?

So far, the Justice Department has rejected a request from Rep. Darrell Issa, (R-CA), for a special counsel to investigate and reveal the truth of the controversy.

The controversy revolves around a statement made by Rep. Sestak, D-Pa., that he had been offered a job by the Obama administration in exchange for dropping out of the senatorial primary against Obama supporter Sen. Arlen Specter. Of course Sestak won the primary against Specter in PA.

So here's the thing... if Sestak was in fact offered this bribe... that is a felony and an impeachable offense.









It sure is obvious that White House Spokesman Gibbs doesn't want to talk about it. (How does this man NOT have a nervous breakdown? Better yet, how does he look at himself in a mirror?)

One report states
If Joe Sestak, a Democratic member of Congress, is to be believed, there's someone in the Obama administration who has committed a crime – and if the president knew about it, analysts say it could be grounds for impeachment.

"This scandal could be enormous," said Dick Morris, a former White House adviser to President Bill Clinton...

"Obviously, the offer of a significant job in the White House could not be made unless it was by Rahm Emanuel or cleared with Rahm Emanuel," he said. If the job offer was high enough that it also had Obama's apppoval, "that is a high crime and misdemeanor."


Section 18 USC 600 says that a federal official cannot promise employment, a job in the federal government, in return for a political act.
Section 18 USC 211 says you cannot accept anything of value in return for hiring somebody.
Section 18 USC 595, which prohibits a federal official from interfering with the nomination or election for office.


Rep. Issa is not dropping this and he thinks there is a cover up:





So much for Hope and Change - it's more Chicago thug style politics in our White House.

The American people want the truth.
Was Sestak offered a job? He says he was.
Who offered it? and why aren't they in jail?

Wednesday, May 26, 2010

13 Trillion And Counting


I was reading a post over at Zerohedge that the total debt of the United States was reported in the Daily Treasury Statement as $12,989,095 million.

Additionally, the US Treasury auctioned off $42 billion in 2 Year debt.

All together the US has $13,031,095 million in debt (Then of course there is an additional $6 trillion more that isn't even counted!)

At the current rate of debt issuance by our government, it looks like the $14 trillion mark will be easily achieved withing 8 months, and it will keep growing as the Obama administration continues bailouts and insane spending programs (like Obamacare). At this point he and his pals definitely "out-Bush" Bush in spending.

This is what $14 Trillion looks like:

$14,000,000,000,000.00

The Congress and the Fed think that government borrowing and spending is going to make us prosperous.

But hey - Zimbabweans were "prosperous" too ... they had trillionaires and quadrillionaires aplenty. See how well their runaway debt issuance served them?

Anyone remember Argentina?


Oh right... that can't happen here.

Tuesday, May 25, 2010

The Gold Rush Of 2010


They can't mine the stuff fast enough!

Here's some highlights from Bloomberg:

Speculators are buying gold faster than the world’s biggest producers can mine it as analysts forecast a 27 percent rally that may extend the longest run of annual gains since at least 1920.

Exchange-traded products backed by bullion added 41.7 metric tons in the week to May 14, the most in 14 months, data from UBS AG show. China, Australia and the 15 other largest mining nations averaged weekly output of 41.6 tons last year, researcher GFMS Ltd. estimates. Even though prices have fallen 4.6 percent to $1,191.65 from a record $1,249.40 an ounce May 14, the median in a Bloomberg survey of 23 traders, analysts and investors shows it will reach $1,500 by the end of the year.

Buying accelerated as the MSCI World Index of 23 developed nations’ stocks tumbled as much as 16 percent since mid-April and the euro weakened to a four-year low against the dollar. ...

“You could see gold go up another $1,000,” said Evan Smith, who helps manage $2 billion at U.S. Global Investors Inc. in San Antonio and in 2006 correctly predicted that gold would reach $700 within two years. “All of the turmoil and problems we’ve seen in Europe is just another reminder that there’s a lot of value in gold as a safe haven.”

...

While gold is favored by investors when the dollar weakens and inflation gains, the metal can also advance at other times. Gold rose 5.8 percent in 2008 as U.S. consumer prices gained 0.1 percent. The metal added 18 percent in 2005 when the U.S. Dollar Index, a measure against six counterparts, advanced 13 percent. Gold rose 8 percent this year as the U.S. Dollar Index jumped 11 percent. U.S. consumer prices dropped in April.

“People are afraid of the debasement of all the currencies,” said Peter Schiff, president and chief global strategist for Darien, Connecticut-based Euro Pacific Capital, whose clients have more than $2 billion in assets. “What’s surprising is that gold is still as low as it is,” he said, predicting $5,000 to $10,000 an ounce in the next five to 10 years.

...

Gold is still at half the peak set in 1980, after adjusting for inflation. Then, prices rose to $850, equal to $2,266 today, according to a calculator on the website of the Federal Reserve Bank of Minneapolis.

Supply from mines, which peaked in 2001, fell in five of the last eight years, data from London-based GFMS show. Companies are digging deeper to extract dwindling reserves, with mines in South Africa extending as far as 2.35 miles (3.8 kilometers) down.

Investment, including bars and coins, almost doubled to 1,901 tons last year, exceeding jewelry demand for the first time in three decades, according to GFMS. Jewelry will jump 19 percent to 2,100 tons this year and industrial use 8 percent to 398 tons, Sydney-based Macquarie Group Ltd. says.

Muenze Oesterreich AG, the Vienna-based mint that makes the Philharmonic, the best-selling gold coin in Europe and Japan, on May 12 said it had sold 243,500 ounces since April 26, more than the 205,300 ounces sold in the entire first quarter.

Central banks and governments are also buying gold, adding 425.4 tons last year, for a combined 30,116.9 tons, the most since 1964 and the first expansion since 1988, data from the World Gold Council show. Official reserves of central banks and governments may expand by another 192 to 289 tons this year, according to CPM Group, a research and asset-management company in New York.

...

“The second half of this year will likely show very anemic growth on a global basis,” he said. “The crisis in Greece is going to spread to Spain and it’s going to be very difficult to deal with. They are bailing out debt with more debt and it isn’t sustainable. It’s a wonderful scenario for gold.”

...

“People still want a store of wealth,” said Andrew Karsh, co-manager of funds for the Credit Suisse Total Commodity Return Strategy team. “A lot of the fundamentals are still in place.”



With the way the Fed is monetizing debt and printing money, you don't want to be holding Federal Reserve Notes when higher inflation hits.

Anyone can buy gold and silver coins very easily, and in small denominations/amounts too from various sellers like APMEX or Northwest Territorial Mint.

You can even move your IRA assets to a metals based portfolio.

Many people prefer outright physical ownership as opposed to trusting that someone is holding/storing it for you (which you pay fees for).

In any case, the Gold Rush is here, and people are moving to commodities to preserve their wealth so it doesn't get eroded away by inflation.


By a con­tin­u­ing process of infla­tion, gov­ern­ments can con­fis­cate, secretly and unob­served, an impor­tant part of the wealth of their cit­i­zens“ – John May­nard Keynes, 1919

By this means (fiat money and fractional reserve banking) government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft.” - John Maynard Keynes

But the U.S. Gov­ern­ment has a tech­nol­ogy, called a print­ing press (or, today, its elec­tronic equiv­a­lent), that allows it to pro­duce as many U.S. dol­lars as it wishes at essen­tially no cost. By increas­ing the num­ber of U.S. dol­lars in cir­cu­la­tion, or even by cred­i­bly threat­en­ing to do so, the U.S. Gov­ern­ment can also reduce the value of a dol­lar in terms of goods and ser­vices, which is equiv­a­lent to rais­ing the prices in dol­lars of those goods and ser­vices. We con­clude that, under a paper-money sys­tem, a deter­mined gov­ern­ment can always gen­er­ate higher spend­ing and hence pos­i­tive infla­tion.“ – Cur­rent Fed­eral Reserve Chair­man Ben Bernanke, 2002

"If the people only understood the rank injustice of our Money and Banking system, there would be a revolution before morning." - Andrew Jackson

Simmons Folds


Buh Bye Rob.

Thanks for your service.

After months of hearing you rightfully criticize the failings of McMahon, how utterly hypocritical if you end up endorsing her.

Simmons went to woo the Tea Party people.
He spent months waving around a tea bag and a pocket Constitution.
He said he was one of them and shared their beliefs.
If he really said what he meant to them, he would be endorsing Peter Schiff, the CT Tea Party/Grassroots candidate.


Peter Schiff 2010!

Monday, May 24, 2010

32 States Are Now Pretty Much Bankrupt


Zerohedge posted this gem:
Courtesy of Economic Policy Journal we now know that the majority of American states are currently insolvent, and that the US Treasury has been conducting a shadow bailout of at least 32 US states.

Over 60% of Americans receiving state unemployment benefits are getting these directly from the US government, as 32 states have now borrowed $37.8 billion from Uncle Sam to fund unemployment insurance.

The full list of America's 32 insolvent states is below, sorted in order of "bankruptedness" shown in millions.

California $6,900
Michigan 3,900
New York 3,200
Penn. 3,000
Ohio 2,300
Illinois 2,200
N.C. 2,100
Indiana 1,700
New Jersey 1,700
Florida 1,600
Wisconsin 1,400
Texas 1,000
S.C. 886
Kentucky 795
Missouri 722
Connecticut 498
Minnesota 477
Georgia 416
Nevada 397
Mass. 387
Virginia 346
Arkansas 330
Alabama 283
Colorado 253
R.I. 225
Idaho 202
Maryland 133
Kansas 88
Vermont 33
S.D. 24
Tennessee 21
Virgin Islands 13
Delaware 12


How many of these states are considered "Blue States"?
The top 5 definitely are.
I don't think that the American taxpayer should have to pay for the expensive consequences of failed progressive-socialist policies in those states. When these states pay out more than they are taking in, then that is a fiscal failure. When they cannot cover their obligations in pensions and unemployment benefits and other programs, then that is fiscal failure. When they over-tax their most successful citizens and businesses in order to fund every social giveaway under the sun, and still don't have the money to pay their obligations, then that is a fiscal failure. That is why people and businesses end up LEAVING those states.
They’ve got the usual Socialist disease—they’ve run out of other people’s money.” ....... ----"The trouble/problem with socialism is that you eventually run out of other people’s money.” Margaret Thatcher (paraphrased)

Just wait till "Obamacare" kicks in.

Best Half-Time Show Ever!




The Firecrackers are a performance jump rope team made up of talented 4th-8th graders from the Kings Local School District in Ohio. they perform at venues across the country.

This was from November 2009 - but it is still amazing to watch.

Sunday, May 23, 2010

CT Republican Convention Shuts Out Schiff




This doesn't surprise me.
I have seen Republican party leadership do some pretty vile things, even in my own town conventions.

One source emailed me to say:
It's worth noting that not a single person outside the rules committee and parliamentarians saw the rules in effect at the convention. They were left out of the delegate packets and the delegates were misled to believe that a packet of state party bylaw changes were the convention rules. There were also mysterious technical difficulties that distorted Vinny Forras' video and kept Peter's from playing, yet Simmons and McMahon had no trouble.
It was clear however that Linda had that convention before any vote switching occurred.

I agree with Peter Schiff.
I am not beaten or disheartened.
This makes me want to double my support and resolve and bring this to "The People".

The party elites can be bought by Linda McMahon, but Schiff has the true grassroots support.
McMahon is the sort of candidate we are trying to rid Washington of in the first place.

Why has there not been any more "debates" since the one at UHar?
Because Peter destroyed his opponents.
At the convention they wouldn't play Schiff's video and they wouldn't let him speak.
That is pretty amazing, wouldn't you agree?
How do you conduct a convention without speeches from the candidates?

We need real Liberty candidates in Washington to help save this country, not voter buyers and self interested candidates who are merely posers.

Let's get Peter Schiff on the Republican primary ballot.
It'll happen.
He's gonna have an army of people out getting signatures.
You can join them.
On to August!

Please call 203-874-6880 and volunteer today!

Friday, May 21, 2010

Obama's Sword Rattling



The United States seems to have begun a military build up around Iran.
We've started to send up to 4 new aircraft carrier groups to the region.

Perhaps Obama thinks we can "war our way out of an economic depression" - after all, that worked for Roosevelt, right?

Over at Debkafile they are reporting that the Obama administration has decided to
"boost US military strength in the Mediterranean and Persian Gulf regions in the short term with an extra air and naval strike forces and 6,000 Marine and sea combatants....

Carrier Strike Group 10, headed by the USS Harry S. Truman aircraft carrier,...will raise the number of US carriers off Iranian shores to two. ... the USS Truman is just the first element of the new buildup of US resources around Iran. It will take place over the next three months, reaching peak level in late July and early August. By then, the Pentagon plans to have at least 4 or 5 US aircraft carriers visible from Iranian shores.

Another four US warships will be making their way to the region to join the USS Truman and its Strike Group. They are the guided-missile cruiser USS Normandy and guided missile destroyers USS Winston S. Churchill, USS Oscar Austin and USS Ross."

It appears that our "Nobel peace prize winner" is rattling war sabers, and he's decided to increase the US aircraft carrier presence in the region four fold.

Just what we need - another very very expensive war, or a reason to goad that crazy Ahmadinajad into a conflict.

Well, that is one way to create jobs.
Besides, doesn't a war help incumbents stay in office?

And Now A Message To Mexican President Calderon




When my grandparents and other of my relatives came to this country they:

1) Had to have a sponsor.
2) Had to have a job and be able to support themselves.
3) Had to be in good health.
4) Had to promise not to be a burden to this country.
5) Had to abide by the laws of this country.

They learned English.
They expected to work hard (and they did) as there were no government handouts.
They became Americans, not some hyphenated version of Americans.
They were proud the day they earned their American citizenship.

Some of them earned great fortunes and gave much back to their communities.

They were also fortunate to have a place to come to that offered them the freedoms that they were denied in their homeland; a place where they could find their own fortune, work hard and find a better life for themselves and their children as Americans.

They did it legally, and so should anyone else.

Your Tax Dollars Hard At Work


Most of us are struggling to make ends meet in this economy.

Not the Obamas.
They spared no expense for their list of guests.

They also shut down the chef from tweeting because they probably didn't want the commoners to know the dinner plans. (here's another link)

Calderon got the red carpet treatment... or as they say, the "whole enchilada".
President Barack Obama Wednesday deployed the full pomp of a White House state dinner for only the second time, honoring Mexico's President Felipe Calderon with a sumptuous menu and elaborate decor.

Key members of the US-Mexico community were expected among 200 guests at the glamorous black-tie gala evening at the White House, as well as actresses Whoopi Goldberg and Eva Longoria, and Mexican billionaire business mogul Carlos Slim.

R&B Diva Beyonce topped the entertainment bill for the dinner, taking place in the East Room of the White House, with the action later moving to a luxury marquee on the South Lawn of the presidential mansion.

The marquee, the size of two-thirds of a football field, decked out in elaborate black decor and nightclub-style lighting, featured a stage and baskets of flowers and models of Monarch butterflies dangling from the ceiling.

The Monarch butterfly migrates from Canada, across the United States each year to Calderon's home state of Michoacan in Mexico.

Beyonce was to be supported by Rodrigo y Gabriela, a flamenco-celtic rock band famed for cover versions of heavy rock bands like Led Zeppelin, and the US Marines Band.

The menu mixed Mexican flavors -- with a starter made of Jicama, a turnip-like vegetable popular in Mexico served with oranges, grapefruit and pineapple -- with Obama's own heritage -- a Hawaiian Opah fish from his home state.

Tables in the East Room were decorated in natural shades of orange and green with the centerpiece featuring a bouquet of marzipan and chocolate flowers.

Also on the menu prepared by celebrity chef Rick Bayless and White House Executive Chef Cristeta Comerford: Oregon wagyu beef, black bean tamalon, and grilled green beans.

Herbs, radishes and lettuce used in the preparation of the dinner came from the White House kitchen garden, the centerpiece of Michelle Obama's campaign against child obesity.

Guests will eat from the china donated to the White House by former president Bill Clinton, and use the 1955 porcelain from former president Dwight Eisenhower.

And just what Calderon needs to eat... Mexican cuisine.
Can't he get that at home?

Question: How come corporate executives are slammed by Obama for having parties like this but it is OK for him?

Any guess at the cost of this soiree?

(and no... I am not suggesting that they should be slumming it... but they could be a tad more understated in these events)

Thursday, May 20, 2010

London's New Olympic Mascots



Are they aliens?
TV sets with bodies?

They are called "Wenlock and Mandeville"
With a metallic finish, a single large eye made out of a camera lens, a London taxi light on their heads and the Olympic rings represented as friendship bracelets on their wrists, they resemble characters dreamed up for a Pixar animation.

They are colorful yes - but pretty idiotic looking if you ask me.

It's a pair of one-eyed blobby looking things, and some say that the blue one looks like he's soiled his pants.
The mascots, conceived by London design agency Iris and costing...just "a few thousand pounds", are an important staging post from a financial and marketing point of view. They will pour up to £15m into the coffers of the organising committee via dozens of licensing deals, part of an overall licensing target of £70m to £80m towards Locog's £2bn privately raised budget.

Well, as P.T. Barnum said, "There's a sucker born every minute".
It looks to me like the Olympics Committee was really sold a bill of goods on this one.

Truly.... was this the best they could come up with?

Here are some past mascots. (Other pictures here)

I liked Sam



Read more for a bit of history on Olympic mascots.

Upcoming games
London 2012 Olympics
Sochi 2014 Olympics
Rio 2016 Olympics

A New Record!


See how well the economy is doing with "Share the Wealth" Obama and "Zimbabwe Ben" Bernanke at the helm?

The Mortgage Bankers Association claims that One in ten US mortgages is now late on payments and one in twenty is in foreclosure!

That's a new record!

Glad to see all that emergency TARP and bailout money helped save those families.

But let's look on the bright side - Building permits fell sharply last month which means that fewer homes will be built. That of course means that fewer mortgages will be written, which means there will be fewer foreclosures and strategic defaults!!!!

Now that's what I call green shoots! (wink)

Wednesday, May 19, 2010

Washington... Can You Hear Us Now?

"I have a message, a message from the tea party, a message that is loud and clear and does not mince words: We've come to take our government back." - Rand Paul

Specter loses, Rand Paul wins, Bysiewicz loses in court, Blumenthal is exposed after "Mis-speaking" about his Vietnam service... overall a great day for "We The People"!

Hey, Washington... can you hear us now???
We are sick of career politicians who are spending this country into the ground!
November is coming baby!

-And-

The CT Tea Party and CT Patriot Alliance, as well as many other Liberty grassroots organizations, have endorsed Peter Schiff for Senate.


Connecticut Grassroots Alliance
Connecticut Patriot Alliance
Right Principles
Independence Caucus
Hartford Tea Party
Greenwich-Stamford Tea Party
Stratford Tea Party
Connecticut Resistance
Dump Dodd






"We have to do something about it by sending good people to Washington who understand the problems and are willing to do what is necessary to solve them" - Peter Schiff



Support Liberty candidates for the State and National races!

And Now A Word From CT's Attorney General




I wonder what else Dick Blumenthal has "mis-spoken" about?

(Just another "honest politician")

Germany Says "Nein" To Naked Shorts!


Yup - the Germans are taking on the banksters in a big way.
BaFin banned naked short sales and unsecured CDS on government bonds in the euro zone

The Federal Financial Supervisory Authority (BaFin) on Tuesday naked short sales of debt securities by euro zone countries, which are admitted to trading on a domestic exchange in the regulated market, temporarily prohibited. it has also temporarily banned so-called credit default swaps (CDS), where the reference obligation is a liability, at least one country of the euro area and they do not serve to hedge risks (unsecured CDS).

Bloomberg reported the story too and explained:
Short-selling is when investors borrow shares they don’t own and sell them in the hope their prices will go down. If they do, the investors buy back the shares at the lower price, return them to their owner and pocket the difference.

The market response to this should be very interesting indeed!

Tuesday, May 18, 2010

YouCut

YouCut is either a Republican gimmick or a public act of empowerment, or maybe a little of both. In either case, the website has had an overwhelming response.

YouCut – a first-of-its-kind project - is designed to defeat the permissive culture of runaway spending in Congress. It allows you to vote, both online and on your cell phone, on spending cuts that you want to see the House enact. Vote on this page today for your priorities and together we can begin to change Washington's culture of spending into a culture of savings.





This week on the chopping block:

1- Presidential Election Fund - $260 million in savings
2- Taxpayer Subsidized Union Activities - $600 million in savings
3- HUD Program for Doctoral Dissertations - $1 million in savings
4- New Non-Reformed Welfare Program - $2.5 billion in savings
5- Eliminate Wealthier Communities from CDBG - $2.6 billion in savings


So go to YouCut and pick the program that YOU think should be cut, and then submit YOUR ideas for what else should be cut.


I want to cut them all.

Monday, May 17, 2010

If You Voted Bailout - You're Out!




The list of political defeats is beginning to grow as voters go to the polls.
They ARE rejecting those who supported bailouts.
We even already see incumbents dropping out and retiring because they KNOW they would go down in flames in 2010. Chris Dodd is one of them.

Ben Stein is WRONG! and if he believes we averted a Great Depression, then he is totally clueless as to what is coming up next BECAUSE of these bailouts. We've seen the overture, and if Washington doesn't change its course we will unfortunately be watching the opera too.

2010 Elections

Some Maps to ponder - courtesy of Politico









and here is the unemployment tracker.




It'll be interesting to see how the unemployment picture affects the election maps.



The races to watch are the primaries.
Party incumbents may be replaced by new blood and/or Liberty candidates set to Restore the Republic and end the insane spending in Washington.
People are tired of career politicians.
Bob Bennett already got the boot in Utah.
McCain could very well lose to JD Hayworth in Arizona.

Another example: Rand Paul in Kentucky.
"We're sick of McConnell," said Winna Ramsey, 50, a radiology technician from Monticello who came to hear Paul speak at Shearer's. "Rand Paul is not a career politician. He's got the people's interests in mind, not the special interests. He's a breath of fresh air from what I can see."

Sunday, May 16, 2010

Meltup

The beginning of a U.S. currency crisis and hyperinflation.
Watch the movie.
Learn.
Prepare yourself/protect your assets.

Saturday, May 15, 2010

Peter Schiff - Default VS. Inflation



As usual - great analysis

and here is Schiff debating the son of John K. Galbraith, James Galbraith.




and then this one with Schiff on Fast Money:




Peter Schiff quotes:

"Gold to $10,000"

"We are printing money and spending it"

Regarding the question about what if the US economy grows...
"What if elephants sprout wings ...." (LOL)

Friday, May 14, 2010

Germans Are Buying Gold Like Mad


Germans, and probably those Germans who lived through that country's last round of hyperinflation, sense what is going to happen with the Euro amid the financial crisis of Greece and across Europe. Heavy demand has been driving up the price of gold and silver.

This report claims
The Austrian mint reported that demand for gold was so heavy that stocks could run out. Much of the demand came from Germany as investors ditched the euro amid fears for the future of the single European currency.

Germans are apparently not real confident about this Greek bailout.
The massive European Commission-IMF loan to Greece and the establishment of a vast fund to rescue other European countries as necessary, did little to restore confidence in the euro. Instead, investors appeared to draw the conclusion that a lot of good money could be thrown after bad euro debts. Their response was to ditch the euro and switch into gold.... Adding to the euro's woes were economists who were warning that, despite its aid package and austerity measures, Greece could still end up defaulting on its debt. The ability of Portugal and Spain to control their debts was also still in question.
Bars of gold are even being sold by vending machines in some places. (Reuters link)

Thursday, May 13, 2010

Digital Copiers - Identity Theft Pot of Gold




Now, that was VERY disturbing.

What a huge security breach - especially with those copiers being sold offshore!

Wednesday, May 12, 2010

Disease Mongering And The Medicalization Of Childhood


So now, a two year old's temper tantrums are a mental disorder.
I guess Big Pharma must have a pill for that, and they want you to buy it.
And it's just in time for Obamacare to pay for it all.
Proposed changes to the U.S. Diagnostic and Statistical Manual (DSM) could include reclassifying childhood temper tantrums, teenage angst, and binge eating as psychiatric disorders. If accepted, the proposals could equal billions of dollars in new revenue for pharmaceutical companies.

The DSM is often referred to as the "bible" of the psychiatric profession. The handbook exerts significant influence on the American healthcare system, affecting everything from insurance companies and medical providers to universities and prisons. Even the legal system lends credence to its provisions.

It is precisely because of its wide scope of influence that many condemn the DSM. The manual is known for categorizing character traits and emotions as mental conditions for which medical treatment, typically drugs with highly dangerous side effects, is advised.

According to Christopher Lane, author of a 2007 critique of DSM called Shyness: How Normal Behavior Became a Sickness and professor at Northwestern University, responded to the American Psychiatric Association's (APA) proposal by saying, "The organization is clearly opening another Pandora's box here, as well as paving the way for the medication of even greater numbers of children and teenagers cycling through emotional stages as part of normal development."

He is right, considering the fact that if binge eating is reclassified as a psychiatric disorder, millions of Americans could instantly be declared as mentally ill. Though provisions would be included to exclude those who merely overeat, the ramifications of associating eating disorders with mental illness at all would likely include a massive increase in the number of people taking psychotropic drugs.

The APA panel is also suggesting adding a new condition category to DSM called "risk syndromes". People who are suspected to potentially be at risk for developing a mental disorder but do not yet have one would be deemed as having "psychosis risk syndrome". This category would include teenagers who exhibit "excessive suspicion, delusions and disorganized speech or behavior," for example.

The APA made it clear that its goal with the revisions is to diagnose people as early as possible with mental disorders, even before they actually have them, in order to get them on treatment.

"Given the severity of psychotic disorders, and evidence that early treatment may mitigate its long-term consequences, we believed that it was important to begin to recognize these conditions as early as possible," explained Dr. William Carpenter of the APA's psychotic disorders work group.


So when junior has a hissy fit - chalk it up to a mental disease and drug him up.
No parenting skills required.

Ron Paul On The Failure Of The Senate To Pass Audit Amendment



Only 37 Senators were willing to vote Yes to the Vitter amendment to audit the Federal Reserve. (see how your Senator voted)

We cannot continue to let the Fed operate in such secrecy.

and as for the soaring price of gold (and silver)...
Holding gold is protection or insurance against government's proclivity to debase its currency. The purchasing power of gold goes up not because it's a so-called good investment; it goes up in value only because the paper currency goes down in value. In our current situation, that means the dollar.

Tuesday, May 11, 2010

Ron Paul And The Vitter Amendment

"At a time when Greece, Portugal, Spain and other countries are experiencing dire financial crises and have their hands out to the international community, we need to know if our Federal Reserve is at all involved in bailing them out. As weary as we are of bailing out companies, the American people would not stand for bailing out entire countries. Our government is wasteful enough in its own affairs without contributing to the waste of other countries. Yet the Fed currently has the tools it needs to do just this, and to do it in secret. If we cannot take away the Fed’s ability to waste trillions of taxpayer dollars on failing companies and failing countries, at the very least, we can take away their ability to do this with no transparency or accountability to the American people. While the Sanders Amendment no longer contains a full audit, Senator David Vitter has introduced an amendment which contains the Audit the Fed language that passed the House last fall. The Senate must pass the Vitter amendment for full disclosure and full accountability going forward." - Ron Paul

Congressman Ron Paul urged support for an amendment by Sen. David Vitter (R-La.), that is identical to what's included in the House-passed bill that will require "full disclosure and full accountability going forward." (of the Federal Reserve)


Monday, May 10, 2010

American Taxpayers Poised To Bailout European Banks


Check Please.

Yup - we always seem to get stuck with the bill don't we.
Apparently - we've been doing this for years.

The Wall Street Journal said that "swap lines" might be reopened to help out European banks in light of the EU/Greek financial crisis.

But, as I said before - this is nothing new:
For example, $40 billion in bailout money given to AIG went to foreign banks. Indeed, even AIG's former chief said that the government used AIG "to funnel money to other Institutions, including foreign banks".
So not only are American taxpayers bailing out American "too big to fail" banks and businesses, but we're also bailing out foreign mega-banks as well.
Bailout money that went to Citigroup was loaned to Dubai, bailout money that went to Bank of America China was invested in China, and bailout money given to JP Morgan was invested in India.

And the government is in the process of providing billions more - along with trillions more in guarantees of worthless assets - to sovereign wealth funds and hedge funds.


The U.S. is of course also contributing tens of billions of dollars towards the Greek bailout through its contributions to the International Monetary Fund. It is alleged that the U.S. is secretly helping to bailout of all of Europe. It's a sort of under the table deal. (Read this)

This is why we must AUDIT THE FEDERAL RESERVE!!!

So America....Open your wallets...
and honestly - even if they aren't directly taking it out of your paycheck .... you ARE losing money when they print more, and make what you have in your wallet worth a lot less then it already is.

Inflation is theft.

Then again as one commenter on Zerohedge said:
If the Federal Reserve can create as much fiat currency as it wants out of thin air (or it's electronic equivalent) why should we care if it swaps american pixie dust with foreigh central bank pixie dust?
Interesting point.

Still.. we are well on the way to a currency crisis.

and please don't forget to leave a tip.

Sunday, May 9, 2010

Happy Mother's Day

This was the card that I received from my daughter who is in college.



For all you moms out there, I hope you have a splendid day doing whatever it is that you enjoy doing.

My family is planning to help me plant my vegetable garden today. I am looking forward to spending a lovely day with the people that I love most.

And to my mom - wherever she is in the cosmos - Happy Mother's Day ... I love you and I miss you! You are forever in my heart.


Friday, May 7, 2010

Did A Fat Finger Really Cause A Market Meltdown?


If it did, then all the more reason NOT to trust the stock market, which some claim is already heavily manipulated .. I mean honestly - can you actually believe someone really mistakenly entered an order for Proctor and Gamble and accidentally typed in a "B" for billion instead of an "M" for a million shares? And if that was the case, how is it that a 20% drop in this ONE STOCK alone could affect the Dow to the tune of a 1000 points? or the S&P for 100 points? The Dow dropped all the way below 10k, with an Intraday low of 9,872! That is some "fat fingered" mistake!

Zerohedge posted this:
There is the danger of walking out of today's session with a sense of relief for equity traders, because that insane move was "just" a fat finger or at least it is the word in the media and on the street.
There are three things to keep in mind:
1) the market was down 3% already when the alleged input error happened
2) we are still in the middle of a major unresolved currency crisis threatening all of Europe and that led to deadly riots already
3) the financial industry does not need any bad press right now and detractors just got some more ammo to push tough regulation. - Nic Lenoir, ICAP

Some believe that it was really the debt crisis of Greece, and the erupting riots there, that triggered a worrisome 1000 point stock market free fall decline in the Dow Jones Industrial Average (DOW), and that the Plunge Protection Team (PPT) stepped in to halt the panic selling and triggered the 700 point reversal on the day's losses.

I mean, gee whiz... it was even talked about on "mainstream" Letterman:




and if you want a little edgier scoop - you can hear what Gerald Celente had to say:





The "fat finger" theory could be a way to put a different spin on a real emerging crisis. It seems pretty incredulous to be able to short a billion contracts, and explain it away as some sort of trader's "boo-boo". Most seasoned traders don't believe this story at all.

Think about it; the market is being manipulated, and at the same time 36.5 million people are relying on food stamps to feed their families. There is record unemployment (which is not even being calculated honestly) and based on that alone, some could claim that we are already in a Depression. The only reason we don't have long Depression Era soup lines, is because of our already established social safety nets. The food pantries and soup kitchen across America are busier than ever, and there are tent cities popping up as well, as more people become homeless.

There IS a very real global debt and currency crisis emerging, and it is NOT going away anytime soon .


Watch this Ron Paul interview:




and this from Peter Schiff:





Fat fingers?
I don't think so.


Brace yourself for another crazy Wall Street day!
Maybe it IS time to cash in that IRA or 401K and eat the tax consequence - better than losing it all in the market. Besides, your taxes will probably be lower now than they will be when Obama gets done. (Note: The previous statements are not to be construed as investment advice.)

Thursday, May 6, 2010

They Know Where You Live

And now, a public service announcement from the Pennsylvania Tax authorities:





How's that for creepy?

If they know who you are and where you live, it seems to me they can simply take the funds out of your bank account if they really wanted to. So what is the purpose of an expensive TV ad and it's threatening tone? Why don't they just send a letter or an agent or two to one's house and demand payment? Are they trying to create fear of the government with this TV ad?

And what about all the money/property the State owes to it's residents who they claim they can't find? All of a sudden they don't know where THOSE people are.

Wednesday, May 5, 2010

Now That's A Lot Of Data



Zettabytes overtake Petabytes as largest unit of digital measurement

It's One Sextillion bytes.

Humanity’s total digital output currently stands at 8,000,000 petabytes - which each represent a million gigabytes - but is expected to pass 1.2 zettabytes this year.

One zettabyte is equal to one million petabytes, or 1,000,000,000,000,000,000,000 individual bytes.

The current size of the world’s digital content is equivalent to all the information that could be stored on 75bn Apple iPads, or the amount that would be generated by everyone in the world posting messages on the microblogging site Twitter constantly for a century.

The rapid growth of the “digital universe” has been caused by the explosion of social networking, online video, digital photography and mobile phones.

Around 70 per cent of the world’s digital content is generated by individuals, but it is stored by companies on content-sharing websites such as Flickr and YouTube.

The latest figures were released in the annual survey of the world’s digital output by IDC, the technology consultancy.

The first survey, which was conducted in 2007, estimated that the digital universe was equivalent to 161,000 petabytes.

Adrian MacDonald, vice president of EMC, the IT firm which sponsors the survey, said: "There has been mammoth growth in the types of media that make up the digital universe.

"A huge increase in video and digital photography – in the old days people would take one photograph, now they can knock off 20 photos and rather than store just one, people store all 20. Then there is the fact that the number of devices where information can be generated and stored has also increased."

As a result the digital universe is forecast to expand by a factor of 44 over the next decade, according to the survey.


Pretty cool.
Now watch the government come up with some sort of "byte tax".

Tuesday, May 4, 2010

Water Main Break Had Massachusetts Residents Scrambling

A water main break in Boston had residents scrambling on Monday.
The breach was reported Saturday morning in Weston, about 10 miles west of Boston. It was in a coupling holding together two sections of a 10-foot-wide metal pipe that carries 250 million gallons of treated water a day from the Quabbin Reservoir to some 750,000 households in 30 communities.

Gov. Deval Patrick declared a state of emergency and ordered area residents to boil the water coming from their taps since it didn't meet federal clean water drinking standards following a major water main break on Saturday.
And from Yahoo news:
a boil-water alert remained in effect for Boston and 29 surrounding communities. Health officials warned of the risk of a parasite infection if residents used unboiled tap water for brushing their teeth, washing raw vegetables or making ice. It remained safe for showering and toilet flushing, with one official likening it to lake water.

My son was visiting there on Monday and was amazed at how people were just waiting in long lines for the government to give them cases of "free" water. It was one per household and that had some people steamed since a household could have one person or more sharing that case of water. They had to show proof of residency to get the water too.





The thing is ... it's not like they had no water at all due to the water main break. Residents were told to boil water for 1 minute to use for drinking or cooking, since some untreated water has entered the system. It remained safe for showering and toilet flushing. So really instead of waiting for the government to give out water - they could have been home boiling what they wanted. Of course, along with the boil order came a warning to people to make sure the water was cooled before using it. (DUH)

Then there was a run on the water in the grocery store shelves... and some stores were price gauging and charging $15 for a case of water.

The residents' reaction to this crisis is not surprising, but it is sad how people have become so dependent on government aid - AND they expect the government to do everything for them including telling them not to be too stupid and to make sure water that was boiled was cool enough to use without one burning oneself.

Looks like we need some real lessons in civic preparedness in this country. Many will be totally lost if heaven forbid they get caught in a really really big crisis.

Have you thought about what you'd do in a real crisis?
I know I will make sure to let the water cool down after boiling it. (wink)

Barack And Vera ?


I know, I know... it's The Enquirer - but hey, the National Enquirer is good with political sex scandals. They nailed John Edwards and Rielle Hunter and they also got Gary Hart and Donna Rice.

The Examiner also ran a story..

So the news is that a former member of his campaign staff, Vera Baker, is the focus of this alleged scandal. Baker was described in a 2005 article as being the the Finance Director of Obama's Senate Campaign. Shortly after that, Vera Baker was relocated to New York, and then Vera Baker was relocated to the island of Martinique. Supposedly Michelle wanted her gone.

In the Enquirer's article it states a limo driver's story:
On the condition of anonymity, the limo driver said he took Baker "from a friend's home in the DC area to the Hotel George where I learned later that Obama would be spending the night."

The driver recalled that he "waited in the lobby while she went to change her outfit.

"But to the best of knowledge she did not have a room at the hotel and she was not staying there so I thought that it was a bit odd."

The driver said he then picked up Obama at the airport and drove both he and Baker to various locations while he was campaigning for funds. Vera accompanied him to each meeting.

"About 10:30 PM, I drove them to the hotel and they went in together!"

"My services for the evening were done - and there was no indication she was going to leave the hotel that night."

A top DC source told The ENQUIRER exclusively that the driver's account had been independently corroborated by investigators who believe the couple spent the night together at the hotel. The ENQUIRER has also learned that on-site hotel surveillance video camera footage could provide indisputable evidence.

So could Obama have been messing around?
Perhaps "Yes He Can" may take on a new meaning.

Surely you remember this photo from July 2009:



Gotta admit - we do need some diversion from oil spills, financial reform and illegal immigration.

Monday, May 3, 2010

The New Mexican American War?



Some claim that this video, and similar ones like it, explain exactly what the Latino leaders in this country really want; a complete take over of the American Southwest. They want what they lost in the Mexican American War. It may not be too far a stretch either, since the Mexican government has pretty much over the past few years given the green light to illegal immigration by handing out instructions on how to sneak across the border, giving them GPS devices, and survival kits.

As for the pro illegal immigration factions featured in the video, some call this a "Mexi-Klan" movement. They are promoting violence and belligerence in opposing and ignoring current US immigration laws, and they are using racism as a cover for their agenda.

The thing is ... where has the Federal government been? Why have they been complicit in allowing illegal immigration to fester as a problem by not enforcing current immigration laws? Have Congressmen been too eager to use the influx of people who need services to further their political careers instead of putting the nation's best interests ahead of their own?

Apparently, it might not just be about picking lettuce or simply seeking a better life in America.



Related story:
Pro Immigration march vandalism in CA.
I wonder if those who were arrested will be asked for proof of citizenship?

Sunday, May 2, 2010

2008 ... Was Just The Overture




"2008 ... was just the Overture... The Opera hasn't played out yet"


Commodities and natural resources and emerging markets....