Preparation and News

SOME USEFUL DATA

Items to consider when figuring out what to do:

1. Including entitlements and pensions, items taken off the reported books, we now owe 55 trillion dollars and it is growing. Quick estimate: that is 55,000,000,000,000 divided by 300,000,000 or 55,000,000/300 = $183,333 of debt for EVERY living American. So figure, each taxpayer now owes, roughly a half of a million dollars, why be accurate, its just money. This is change you can bank on. You didn't know you could carry that much debt, did you? Please let me know if my math is off.

See below for Mr. Obama's off-teleprompter speech: ...when you're in charge, to make sure that stuff doesn't happen like this. So we're going to do everything we can to fix it."

2. Fed Chairman Bernake, whether you agree with Keynesian monetary "policy" or not, told us on 60 Minutes what he will do. He will NOT let the big banks fail. [Buy Citibank? The government now owns 36%] The Fed is going to "stimulate" the economy with low rates until just the right moment, wanting to avoid deflation, then the Fed will jack up the interest rates to into high inflation. [Gold?, but the government will probably render ownership illegal]

A note - the government has no choice, and I mean no choice, but to foster serious inflation so that it can pay down its recent debt binge with cheaper dollars. Smart money, including foreign investors, has no choice but to leave the dollar, if not the United States. Also, who can say whether this plan will do anything to stop a depression? We are betting on a theory only accepted by government.

Higher interest rates only mean something to those borrowing and who will be borrowing during inflation? Who will be lending? Smart money borrows now and sits back, not when the rates take off.

SOME NEWS

1. The news I recently pointed out is now hitting the early detection line, the talk shows. Major media will pick it up, as is usually the case, in a week to a month. The important news is one can't find bullets for sale, even as Congress is considering a plan to make it a crime to own old bullets, not the new registered ones that are highly taxed. If have read about Hitler, Mussolini, Stalin, you see what is going on. Tell me you don't get it.

2. Below is our President going off the teleprompter, as reported by ABC, hardly a critical source. Notice the narcissism, shallowness, and the simplistic socialist agenda as he fixes "stuff." Tell me you don't get it.

We didn't grant these contracts, and we've got a lot on our plate, but it is appropriate, when you're in charge, to make sure that stuff doesn't happen like this. So we're going to do everything we can to fix it."...

"And one of the messages that I want to send is that as we get out of this crisis, as we work towards getting ourselves out of recession, I hope that Wall Street and the marketplace don't think that we can return to business as usual. The business models that created a lot of paper wealth but not real wealth in this country and have now resulted in crisis can't be the model for economic growth going forward," he said....

"Secretary Geithner either didn't know about the bonuses, and was grossly negligent, or he did know and failed to bring this to the president's attention," Rep. Darrell Issa, R-Calif., said Wednesday.

"Timothy Geithner should either resign or be fired for the good of the country, and President Obama should nominate a new treasury secretary with the experience and leadership skills America deserves," Rep. Connie Mack, R-Fla., said in a statement. "Quite simply, the Timothy Geithner experience has been a disaster."

But the president defended his treasury pick...

"I have complete confidence in Tim Geithner and my entire economic team. Understand, as I said before, Tim Geithner didn't draft these contracts with AIG. [Probably not, so what. He approved it as did Dodd] There has never been a secretary of the treasury, except maybe Alexander Hamilton, right after the Revolutionary War, who's had to deal with the multiplicity of issues that Secretary Geithner is having to deal with -- all at the same time,"

"For everyone in D.C. scrambling how to blame someone else, just go ahead and talk to me," the president said, deviating from his prepared remarks, "because it's my job to make sure we fix these messes, even if I don't make them."

Comparing big banks and embattled, scandal-ridden AIG to suicide bombers, Obama said, "Now, a lot of people say, well, why not just let the banks fail? Right? See, somebody is clapping. ... They were making all these bad bets. Why don't we just let them fail, let them go bankrupt? What's the problem?"

"Citicorp or Bank of America or, you know, Wells Fargo that controls 70 percent of the banking system, and all of them are weakening. [Huh, or you know] You can't afford to have all those banks all at once start going under. Even though the deposits might be guaranteed, you've got the entire economy resting on that credit," the president said. "It was the right thing to do, even though it's infuriating, even though it makes you angry. ... Here's the problem, It's almost like they've got a bomb strapped to them and they've got their hand on the trigger. You don't want them to blow up. But you've got to kind of talk them, ease that finger off the trigger." [I am sorry, if you are going to talk down to the least common denominator, his voters, you should, at a minimum, make sense - you know about the mess and that credit and all.]

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Lest you are not sensitive to language, aside from the sophomoric vocabulary, note

1. The regal use of I and my

2. He "grants" contracts

3. I hope that Wall Street and the marketplace don't think that we can return to business as usual. You are the marketplace, you know. He is going to fix all your stuff.

4. "The business models that created a lot of paper wealth but not real wealth in this country and have now resulted in crisis can't be the model for economic growth going forward,"

His business model is going to fix the stuff. I didn't know we had a business model that included fraud, stupidity, and governmental interference. It must, as the "model" caused "crisis," not people and events. More shallow thought. I guess the new model will make sure we are all good and the government does not screw things up with politically based regulation.

5. Big banks are suicide bombers, you know. I am not making this up. If I were real suicide bomber, just about now is the time to attack. Can you imagine what our leaders will do? Actually, upon thought, I can't.

After campaigning hard on the need address Afghanistan, the seriously troublesome war, Obama is sending 19,000 troops - after the generals requested 30,000. I guess he know better. The hated Bush actually listened to the generals on the ground, the dope.

I have to go now, my blood pressure and all.