Not Ready For Prime Time

So, the transcendent political icon of our times, one dedicated to ending wars, bridging divides and healing past wounds, said:

"If they bring a knife to the fight, we bring a gun," Obama said at a fundraiser in Philadelphia Friday, according to pool reports.

Where to begin? He was in Philadelphia. If he actually knew anything about the streets there, he would have said Uzi versus Sat Night Special.

What on earth is this young man thinking? Or is he incapable of thought beyond those he reads on a teleprompter? On the Presidential scale of rhetoric this rates a minus-1, most particularly given the image he has been working so hard to cultivate.

On top of that, this sort of rhetoric makes it hard to imagine he attended Trinity Church for years without at least a few determined head-bobs to some of Rev. Wright's more bombastic sermons. Obama may not know if he is coming or going right now. But if this keeps up, he'll be "going" for sure. And I don't mean to the White House.

You're running for President Barry, not head of the Frat, or for bragging rights at the campus pub.

Comments

[seekeronos]

Bear-Stearns should have been left to rot, IMHO.

The FedRes bailout with not just taxpayer money (remember, the FedRes is a private corporation and not part of the government) but all American citizens and resident by forcing the lowering of interest rates and more debasement of the dollar to cover the mess.

If BSC had been allowed to fail entirely, it would have resulted in a few other banks failing (and with bank runs reminiscent of the Great Depression).

We would have had our pain up front, and interest rates would have gone up and not down.

With decreased interest rates, savings get eaten up and consumer confidence erodes.

Now we will still get the pain, but multiplied and dragged out over several more years.

As for BSC investors and folks with retirement accounts ... well, don't you think that if you are socking away $X every month, it behooves you to know the funds and components of those funds as to which companies you are invested in, and to track the performance of those indices of your IRA so as to bail out when the fundamentals of the constituent companies trend significantly down.

As I said earlier, it is an awful time to be in equities/stocks. Commodities indexes/ETFs are the thing for long-running secular bears.

[Scrapiron]

jharp misses a lot like the actual film of the great hospitals his hero MM the white fat a** told him were so great. Out of thousands of hospitals in the U.S. you will never find one that was 1/1000 that filthy. The entire hospital staff would be doing time.

Gas $1.44 in 2001, $2.10 in 2006. A 66 cent increase per gallon or '11 cents per gallon per year' for six years.

Democrats take over congress in Jan 1007 with gas at $2.10 per gallon. They have managed to increase the price 12+ cents per gallon 'per month' since taking over. Maybe jharp can retrieve his brain from the comode, if flushed from the sewer, and explain that little fact. How do you like the price of food that has climbed with the price of gas? You haven't seen anything yet. Talked to a cattle farmer today who is putting up hay for the winters feed. The price of every meat product is scheduled to skyrocket. Corn and wheat, don't even think about what that is going to cost. You will have to use one of the best medical facilities in the world to treat your heart attack, and you will not be turned down and will receive the same care as anyone.

[Scrapiron]

The finance market, the housing market, and the stock market were all booming until the 'democrats' took control of congress and almost immediately crashed it. Now we find that several of the high and mighty democrats in congress and major businesses had their hand in the pot before the crash. They aren't even smart criminals, they got caught, but then the democrats are in charge of congress and will do what they always do, nothing, and the crimes will repeat over and over.

[jharp]

Scrapiron,

Yeah, right, it's the democrats fault. That 18 months of a 49-49-2 senate majority have really mucked things up.

I think Fred is enrolling in a Civics class. You definitely should join him.

[jharp]

"As for BSC investors and folks with retirement accounts ... well, don't you think that if you are socking away $X every month, it behooves you to know the funds and components of those funds as to which companies you are invested in, and to track the performance of those indices of your IRA so as to bail out when the fundamentals of the constituent companies trend significantly down."

Yes, I do.

However in practice it ain't happening and ain't gonna happen. So what to do to prevent ordinary folks who know nothing about markets from getting fleeced.

Executive compensation is completely out of control and shareholders have no say in the matter.

[seekeronos]

"--- However in practice it ain't happening and ain't gonna happen. So what to do to prevent ordinary folks who know nothing about markets from getting fleeced. ---"

Absolutely nothing. People who choose to play the market without informing themselves about it first may be considered irresponsible investors, and are less likely to be so irresponsible again after they get burned. And while the Average Joe has had a great deal of trust in an unrestrained bull market ... yes, if he chooses to remain blissfully ignorant and hope that all will work out with his IRA funds, then yes, he is likely to get fleeced. Especially if he either fails to diversify his IRA or is unable to do so.

"--- Executive compensation is completely out of control and shareholders have no say in the matter. ---"

I partially agree with this. Executive compensation is disproportionately high, but if it isn't affecting the company's bottom line or shareholder returns, it should not be too much of an issue. From here, though, I will aver from my ordinary zeal for the free market system, and say that I am not opposed to a court addressing a shareholder class action suit to award/garnish a significant portion of a CEO's compensation should s/he prove to be catastrophically inept at managing the company (such as in the case of BSC or as emerging in LEH) to be divided among the shareholders of record at the time of the catastrophic failure.

"----- A just weight and balance are the LORD's: all the weights of the bag are his work. -----" (Proverb 16:11, KJV)

One of the functions of government is to regulate the affairs of man, with the least amount of injury and annoyance, to ensure that dishonesty and cheating is discouraged. Of course, this should be limited in scope, and not extend to regulating every last detail and taxing everything to death.

Truth be told, the stock market will be the very least of our problems. In the short term, it might be wise to acquire stored/dried food, water purification supplies, and plenty of ammo for your favourite guns; maybe a diesel generator if you can get your hands on one at a good price. The next few years could well be very rocky.

Watch the markets be ready to transfer even from commodities to something more handy: gold (for value and storage of wealth for when/if the economy revives) and silver (fungibility)

"--- The price of every meat product is scheduled to skyrocket. Corn and wheat, don't even think about what that is going to cost. You will have to use one of the best medical facilities in the world to treat your heart attack, and you will not be turned down and will receive the same care as anyone. ---"

It is quite possible that food prices will easily double or triple.

As much as 1/3 of the grain crop destroyed in the American "Grain Belt" states, and very little if any reserve grain in national storehouses.

http://www.standeyo.com/NEWS/08_Food_Water/080606.no.grain.reserves.html

This impacts on nearly everything else down the food chain -- we will most likely find beef become a luxury item, and even chicken and pork may be priced out of most peoples' budgets. Those few folks remaining alive from during the WW2 era will remember the "Meatless Mondays" and "Wheatless Wednesdays", and they may return by compulsion along with the spectre of rationing.

"Victory Gardens" may become a necessity as well, in order to supplement overpriced food and possibliy dwindling supplies this year.

So, in sum:

Short Range - move to commodities based indices/ETFs if you haven't already done so; secure and plant "heritage" or "heirloom" seed stock for vegetables that thrive in your local agricultural zone (don't get Burpee or other Monsato genetically tinkered seeds, those hybrids are sterile)

Medium range - watch gold/silver price and try to target it at a buyable price. Currently, gold/silver is showing a downward trend -- spots recently at $870, may likely rally at $840-850 into a strong metals bull ... buying silver rounds/coins and US gold eagles/buffaloes might be best for both taxes (tax free) and fungibility, even after dealer cost.

Long Range - long term dried food storage, preservation of anything from your victory garden, acquisition of weapons supplies and ammo, diesel/biodiesel.

And lastly: Pray. Repent. And pray some more, that the Lord Jesus comes soon.

God's judgment is certainly upon this nation, and things are going to get rather unpleasant unless we take refuge in Him and repent.

[jharp]

my 2 cents

1) spend less than you make

2) pay off your debt if you haven't already before putting a dime in stocks, gold, or any other investment. A guaranteed 6% return with no risk. Then buy income producing assets.

3) vote democrat and end the $12 billion per month occupation of Iraq

4) vote democrat to get started on the path of cutting health care costs in half

Long term I think the stock market is a huge problem.

Take a look at Google, a widely held stock that is valued at $180 billion.

Sales of $18 billion.

Net income $4 billion

Ignoring the time value of money it would take 45 years to break even.

Not ignoring the time value of money probably 100 years.

What is the upside to that?

By the way, insiders have taken $200 million off the table just in the past 6 months.

All taxed at 15%.

[jharp]

"--- However in practice it ain't happening and ain't gonna happen. So what to do to prevent ordinary folks who know nothing about markets from getting fleeced. ---"

Absolutely nothing. People who choose to play the market without informing themselves

Oh, I forgot.

I disagree. These folks aren't playing the market. They are putting money into mutual funds offered by their employers. They are led to believe their money is safe.

As much as I don't like regulation, I think more is needed.

We do have usury laws after all. And isn't this protecting people from their own stupidity.

[buddy x]

"vote democrat and get started on cutting medical costs in half".

dude! that just MAY be the single stupidest thing ever written on the whole internet this year! congratulations!

of course, the question here is whether the writer was being all ironic and coolly witty; or just merely breathtakingly stupid. as it appears to have been scrawled by a liberal, "breathtakingly stupid" is the way to bet.

so democrats - and their beloved all-powerful state - is the way to run things, eh?

1) why is the senate pushing to close their government-run; money-losing (to the tune of $1mm+/year), lousy food senate restaurant? why is that?
2) when democrats and the government fund/run/manage large-scale construction projects, they lose money and go over cost at a **stunning** rate. 500% or more is common. when the wise & clever democrats began boston's big dig, they said it would cost $2,600,000,000. it ended up costing $14,500,000,000. not bad: only off by 12 billion bucks or so, geniuses. gee. how'd THAT happen?
3) we already have a precedent for government-run healthcare. it's called the VA. it loses money at a stunning rate. it's infamous for its miserable level of care - care SO bad (that whenever a republican is in the white house) it's the cover of innumerable news articles and even movies are made about it. (only in GOP presidencies, you understand. when dems are president, this suddenly becomes not worthy of reportage.)

given that the above is true - and it all is - what kind of frickin' IDIOT would want uncle sam to do medicine? to give bonehead, arrogant, pension-obsessed *bureaucrats* the power of life and death? what kind of drooling, slobbering, feces-smearing MORON wants that? since it's fairly obvious, based on logic and observation, that the quality of healthcare will get *much worse* should this happen, we must then ask what's the REAL reason the idiots are clamoring for this to happen?

[seekeronos]

"--- I disagree. These folks aren't playing the market. They are putting money into mutual funds offered by their employers. They are led to believe their money is safe.

As much as I don't like regulation, I think more is needed.

We do have usury laws after all. And isn't this protecting people from their own stupidity. ---"

Perhaps "playing the market" in the case of the average employer-contributed IRA holder is not accurate, in the sense that there is a certain sense of "security" that many people may be lead to have in these investments.

Still, I think that anyone who values their retirement income should check out the mechanisms and risk/reward features of their respective programs, and adapt their portfolios accordingly.

For some, that might mean reducing their 401(k)/IRAs from the maximum allowable contributions to just enough to get matching employer contributions, putting the difference into commodities based index funds while the market weathers the equity bears.

And I am not opposed to regulation that does its job but without being oppressive and overreaching in scope.

Government imposed pay caps would be bad, and would prevent companies from rewarding competent managers.

[templar knight]

By the way, jharp, I have a couple of observations on your comments.

1. You keep suggesting that Fred and seek go to civics class over comments they made about the Dems controlling Congress, namely the 49-49-2 split in the Senate. One, the two so-called independents vote with the Democrats, which is why the Majority Leader of the Senate is a Democrat. See how that works.
2. The 49-49-2 split gives Senate Democrats de-facto control in that no bill can pass the Senate without their approval. Even if the Democrats could not keep a few of their members in line, they still control what passes the Senate by having a fillibuster proof number able to stop any bill they diapprove of.

Maybe you need to take a civics class yourself, guy.

[LOL]

this is your major gaffe? Didn't McCain confuse Shia and Sunni?

You're grasping at straws buddy, it's sad to watch.

[jharp]

"Maybe you need to take a civics class yourself, guy."

I'm aware of how both the Senate and the House work and though having a majority has it's perks, it is very difficult to get legislation passed.

As a matter of fact the minority can pretty easily block every single bill.

It is silly and dishonest to blame our problems today on the democratic majority in Congress.

[seekeronos]

"--- It is silly and dishonest to blame our problems today on the democratic majority in Congress. ---"

Not entirely. When Congress can't get anything done due to deadlock, it is their (Congress's) fault.

And since Congress (Senate + House together) have Democraticic majorities, it falls on the Dems to be able to "reach across the aisle" to the GOP; which in theory, shouldn't be too hard what with all the RiNOs running around up there in DC.

[jharp]

"Not entirely. When Congress can't get anything done due to deadlock, it is their (Congress's) fault."

"And since Congress (Senate + House together) have Democraticic majorities, it falls on the Dems to be able to "reach across the aisle" to the GOP; which in theory, shouldn't be too hard what with all the RiNOs running around up there in DC."

The deadlock is what it is. I'd say it's better to be deadlocked that enact bad policy. In a very short time the Democratic majority is going to increased substantially. I'm not disappointed with todays deadlock. Screw the republicans, let them obstruct all they want. The democrats need to keep their powder dry until January 2009. Then they'll be able to get things done.

And there are plenty of DiNOs too.

The messes we find ourselves in today are largely because of the policy of George Bush and the republican congress.

[wjo]

That Obama, or any Democrat, would feel the same way about Al Quaida as he does about the Republican Party would gladden the heart. The butt kicking rhetoric is only reserved for domestic enemies.

[Worst President Ever]

You mean just like the Republican's reached across the aisle when they were in charge?

Not entirely. When Congress can't get anything done due to deadlock, it is their (Congress's) fault.

And since Congress (Senate + House together) have Democraticic majorities, it falls on the Dems to be able to "reach across the aisle" to the GOP; which in theory, shouldn't be too hard what with all the RiNOs running around up there in DC.

[templar knight]

"the messes we find ourselves in today are mostly the fault of George Bush and the republican congress."

Oh, I don't know, the democrats are just as guilty of spending all the money they can get on their own pet projects. For example, Murtha has earmarked around $2 billion for his district over the past few years, some of it to entities that are non-existant. The Obamassiah is guilty of the same thing, so when I hear you democrats railing against excessive spending, I just laugh at your hypocrisy.

[jharp]

"I hear you democrats railing against excessive spending, I just laugh at your hypocrisy."

I don't know. $4 trillion in 6 years and still counting (war) is pretty excessive. And a matter of fact it's record book shattering.

[jharp]

"For example, Murtha has earmarked around $2 billion for his district over the past few years, some of it to entities that are non-existant."

Where'd you come up with this? Fox News? Nah, even they wouldn't lie that blatantly. El Rushbo? Link? Everything I've seen confirms this is nonsense.

"The Obamassiah is guilty of the same thing,"

Really? $2 billion over the past few years?

You got a link?

[templar knight]

Actually, smartbritches, I googled John Murtha earmarks and came up with the story on the $2 billion in earmarks from a CBS story by Katy Curick and Sheryl Atkinsson, known Fox News operatives to you, I'm sure. As for the messiah, I didn't accuse him of $2 billion in earmarks, just using earmarks in some cases to feather his own nest, or his wife's nest, if you will, since he earmarked a million dollars to the hospital his wife works for as a 6-figure income "community specialist". That was just part of the $740,000,000 the Obamamessiah has earmarked over the past three years. You democratic boys are only concerned about runaway spending when it is done by Republicans and are blind to your own side. It's called being a hypocrite. It's what you are, jharp.

[buddy x]

what's this? suddenly don't wanna talk about how the democruds "will save us half on medical costs" anymore? time to turn the page and get started on a new dem talking point instead? do your best to blur the issue? mewl "you got a link?"

saaaay, why IS b. hussein such a bonehead mushmouff stumblebum when they take his teleprompter away? ("yo,....uh....i sure love these 57 united states! changehopechange!!") doesn't that prove that - as the liberal dipwads all told us when bush did it - doesn't that PROVE he's just a racist ("my granny is a typical white person." "that's how white folks'll do ya.") mental midget tool of dark, sinister forces? a puppet to be controlled by the REAL power behind the throne?

that IS what you dipwads said, right? right before you assured us that nationalizing healthcare would save us money, right?

[jharp]

buddy x,

Your previous post was not worthy of a response.

When you compared a single payer health care system to running a cafeteria I chose not to take the time to educate you.

Why do you suppose it is the the United States pays two to three times what the rest of the world pays for the same quality health care?

And 40ish million go without coverage.

[jharp]

templar,

Not saying it's but all of earmark.

And the GOP shatterd the record books for deficits to the tune of $4 trillion.

And I figured you didn't have a link for Murtha's alleged 2 billion. I looked like hell and couldn't find anything myself.

Just imagine if the Murtha story is true. That's five days in Iraq. And at least we've got a little to show for it and the money is spent here in the U.S. as opposed to be pissed away in the desert on a goodwill mission.

[jharp]

templar,(correction)

Not saying it's OK but all of them earmark.

[bobInStamford]

"saaaay, why IS b. hussein such a bonehead mushmouff stumblebum when they take his teleprompter away?"

I don't know patriot. But I do know that when you have an angry, splotchy OLD man whose main claim to fame is flying poorly as the competition, it doesn't matter. You 'conservatives' are going the way of the dinosaurs.

Fare thee well, hero!!

[jharp]

templar,

I got to thinking about your post and have found you to be a reasonable man.

Please tell me how you can bitch about Murtha's alleged $2 billion over a few years in earmarks, that I don't believe is true.

And turn around and support the candidate who promises to continue pissing away $12 billion a month into the goodwill mission in the desert.

Again, at least we get a little something from the domestic spending. And no one gets maimed or killed.

[buddy x]

suuurrrrre you're right, harpy. you refused to comment on (my evisceration of your latest moronic post) because "well, it'll be different somehow this time."

"also, different from the $12 billion overrun they racked up while digging a fucking *tunnel*."

what a pinhead you are, harpy. there's a word for people like you who willfully lie to themselves and others, all in order to keep wishing with their hopes & dreams as opposed to using their (in your case, anyway) vestigial brains. yes, that word is "liberal".

maybe we could nationalize the language to remove the stigma from that word?

[jharp]

Hey buddy,

"also, different from the $12 billion overrun they racked up while digging a fucking *tunnel*."

To steal a line from the GOP. "Mistakes were made"

Now how about the trillion dollar mistake that got 4,100 killed and 25,000 wounded, some maimed for life.

You want more of that. Vote McCain.

[buddy x]

"mccain", harpy? when did mccain become the topic?

as i recall, i was merely asking you for clarification on your earlier audacious, intriguing statement that the "democrats would get us a 50% reduction on the cost of healthcare". as i noted, your optimism about this confused me, especially in light of the many other government-run programs, all of which have failed miserably AND produced staggering cost overruns.

if, as i noted, uncle sam can't manage to run a (1) restaurant without losing $1,000,000+ per year; or dig a lousy fucking tunnel without spending $12,000,000,000 and 5 years more than they claimed they'd need; or run a comparitively much smaller healthcare system (VA) than you're proposing they do....

naturally, questions popped up. questions like, "since the federal government exhibits only incompetence in everything they attempt - or are you saying social security; the war on poverty; and the war on osama are huge successes? - why should we give them the power of medicine?" "since it's obvious to even moronic liberals that government-run healthcare is a recipe for disaster - ask a brit about how well the NHS "serves" them someday - what's your REAL agenda in calling for this?"

your brave, bold, proud answer was "mccain". why are you such a pussy, harpy? are you afraid of the truth? afraid to speak your mind? did the dnc not include instructions for a case such as this in your employee manual?

[jharp]

OK douchebag,

Let's start by quoting each other accurately

"vote democrat and get started on cutting medical costs in half".

Was what I stated.

Not.

"democrats would get us a 50% reduction on the cost of healthcare".

And why don't you take a shot a my query.

Why do you suppose it is the the United States pays two to three times what the rest of the world pays for the same quality health care?

And why do the wingnuts choose to compare us to the U.K. You know there is a big world out there that consists of more than the U.K. Canada, and the U.S.

Though health care expenditures in both Canada and the U.K are about half of what we we spend the level of care is about the same and everyone is covered.

Go do a little research and come back with some intelligent questions and I'd be happy to answer them.

After you answer mine.

[templar knight]

jharp, I am a reasonable man, I just wanted to point out that just because the regime changes doesn't mean that spending habits will change. And the Republicans, whether serious or not, made an attempt to do away with earmarks in this present Congress.

As for the war, the Democrats ran on the issue of stopping the war in Iraq. I saw a Democrat on a video clip last week admitting they overpromised on the war just to get elected. I already knew that, I was just glad to see the guy admit it.

As for being consistent, seek is probably the only commenter on this blog who has a spotless record on opposing excessive spending by both sides.