The Green Ship of Fools Crashes Upon the Shoals of Reason. EcoNazism Crumbles in Copenhagen.

Abstract: The Global Warming Follies in Copenhagen ended in scuffles, sour grapes and a nonsensical ‘agreement’ to do nothing. As usual, the third world parasites were there to grunt and grab for any alms they might get from those who practice capitalism. The radical leftists rioted in the street and threw things around while Marxist dictators argued that this process was not democratic.  The EcoNazis were left to look like fools.

There are sets of painfully boring clichés that have been plastered upon the walls and bridges of our cities signaling the End of the World unless we do this or that soon or even before. We must always hurry. None of these silly theatres has accomplished much except scare a few children or inspire a spurious Methodist sermon somewhere in the Western United States. Most of them have been scams and Doomsday has never happened unless you cast that one in educational or political terms in California[1][2][3]or Massachusetts. But, the propensity to make serious money off the fears of the uneducated public has no boundaries if properly executed. Here is where the parasitic left cluster with glee.

There are scams and then there is the biggest possible scam where we all must fight to keep the temperature from rising and cooking our society. This is a unique example of a case where if we do nothing and the temperature oscillates up and down for a few centuries no harm will occur. But, if we don’t act quickly and tax energy and transfer much of that to the ‘poor’ then we can proudly say we have saved the planet and the precious polar bears if, indeed, the temperature oscillates up and down for a few centuries anyway. The proof here is that taxes collected by third world and the suppression of CO2 emissions will have quelled the major problem and the temperature didn’t rise too high and we are thus saved from extinction. Money thus fixed the problem. The obvious danger would be if we did nothing and the temperature fell—a process that might be happening now. This is, of course, an essay in circular logic but such essays may be used to warp the neuronal sets of the cognitively disnimble and make huge piles of money for charlatans and political leaders.

Scams actually work for a goodly while if there is some tantalizing piece of candy dangling on a bright string that will attract people who think they have something to gain. An example is the grand hokum of Gregor MacGregor[4] who invented a nonexistent city called the Principality of Poyais, an independent nation on the Bay of Honduras. He was able to entice emigrants to exchange their money for the new currency and was able to load up five ships and sailed west where the settlers disembarked to find only raw jungle and disease. Several other ships were apparently financed by the public sale of bonds and the passengers leaving from Le Havre had passports from a place the French had never heard of and they were caught and tried and convicted. Many of the marks died of malaria and other maladies. This scam involved advertising, banks, shipping, bonds, purchase of marine supplies, issuing of passports and other matters and preceded forward only by the ignorance and inattentiveness of the public and numerous elected officials in several countries. Does any of this sound familiar?

Al Gore has conjured his own Principality of Poyais whose splendor will only be revealed after the world is forced to pay high taxes for a few decades to curtail emissions of carbon dioxide, a major source of life. Like the emigrants who flocked to board ships bound for a new exciting republic, many investors are quick to sell carbon credits for huge profits and certain ‘scientists’ stand to the podium to herald the Onset of Doom if we don’t proceed with this plan although they seemed to have cooked up some numbers to make their ‘science’ and computer models coincide with their political leanings and investment interests. So, in this case the shift from CO2 emitting energy sources is conveniently replaced by an assortment of very expensive green products that don’t spew this poison, a neat tie of the bow on this pretty package. Of course, the cost will be enormous but so will the profits as in the Poyais case.

There are strong parallels between Gore and MacGregor in that both had papers and plans and ‘studies’ along with propaganda and advertising and ‘education’ to help make the scheme work. The singular difference between these two crooks is that the marks in the Gore Case cannot see the jungle coastline because they might have to wait a few generations for this rewarding pleasure. So, the scam has the charming feature of placing the Principality of Poyais off in the future. These are both confidence schemes with loyal shills working the political levers and inventing useful numbers to plug into their climate models in numerous countries. The ugly fact is that some phony science practices were uncovered and published and some of the ‘data’ were merely invented or worse and theses revelations had no effect on the backers of the movement. We have a ‘consensus’ and that is the end of the debate says Al Gore. It is apparently okay to lie and publish false scientific ‘findings’ if this is in the benefit of some noble movement such as environmentalism, a form of EcoNazism[5] in my lexicon or for personal aggrandizements such as publishing books and obtaining research grants. It was okay for Al [a bribe seeker[6], Buddhist Temple money grubber[7], Communist Stooge[8], and a  Lysenko-styled pseudo scientist/politico.[9] [10]

We can all panic and run around in circles as we are programmed to do when we hear ‘The Sky is Falling.”[11] We have a problem! We are all going to die! Legitimate concerns about safety and the prudent stewardship of our planet aside, we, today, look into the inner sanctum of EcoNazism and explore the massive corruption and debasement of science[12][13] that exists in many universities and government entities. For the grubby and criminal adventures that attempted to defraud the public with phony science we can expect a public backlash and this blog write is set up to satirize and expose some of this fraud. Lies are an intrinsic attribute of ‘intellectuals’ as we read in Paul Johnson’s famous book Intellectuals.[14] And, we must hurry as we hear from the revered scientist--the Princeling of Wails[15]--who has recently started the Dooms Day Clock and we have a scant 99 Months to Go to Doom starting Mar 12, 2009.

The various countries on our planet are in distinctively different stages of energy development and supply and many depend on coal or oil for economic growth. Thus, the cost of their switching to windmills or solar cells is financially prohibitive in their local economic terms and would stall or ruin progress.  The scam has some convenient loopholes in it that allows many countries to sell or trade some of their emission allotments to energy producers so as to balance out the pain but still meet the CO2 reduction standards. We then have a wonderful market where we can trade carbon credits.

So, the players clustered during an ironical snow storm in Copenhagen to hear the pleas and songs from Marxist dictators and other losers while leftist thugs threw bricks and worse at the police and turned the whole gig into a ribald circus. The ‘outcome’ was some mysterious ‘agreement’ whose words we have yet to see them blossom on paper. What a parade of pitiable fools.

Here is what we know about the ‘agreement.”

“After intense overnight wrangling, delegates from 192 countries on Saturday passed a motion simply "noting" a loose deal aimed at limiting temperature rises to less than 2C, which was agreed by the US and four other large-scale polluting nations.”[16]-- Climate summit ends in chaos and 'toothless' deal [Emphasis is mine in all quotes.]

That was the pitch to the marks but where is the money?

“The accord, led by the US, China, Brazil, India and South Africa and worked up by a total of 30 nations, including Britain, had no reference to a legally binding agreement.

It recognized a need to limit global temperatures to no more than 2C above "pre-industrial levels" and set a "goal" for developed countries to raise $100 billion a year for poorer nations by 2020.

Emerging nations are now to monitor their own efforts on climate change and report to the UN every two years, while there was no detailed framework on controversial carbon markets.”-- Climate summit ends

Now, we can wonder just where this money might be spent. Are we to believe that jungle huts will now be lit by solar powered lights and cooking stoves? How would Robert Mugabe spend his share? By reducing Zimbabwe’s debt and shoring up their trillion-fold inflated currency?

Some of the participants now face some interesting challenges such as the Australians:

“Mr Rudd said he would decide whether Australia would go for the deep cuts of 25 per cent to its emissions when other countries lodged their pledges to the Copenhagen Accord in February.

''Australia will do no more and no less than the rest of the world, and that is our position,'' he said.”[17]-- The Copenhagen Accord: a deal far from perfect By Marian Wilkinson Copenhagen December 20, 2009 [Emphasis is mine in all quotes.]

 So, who goes into the snake pit to get bit first and show the damage? Is this now a schoolyard playground game of Dare? The tragedy is that no ‘deserving’ nations like Sweden or France will do this and demonstrate how this process works. This is a grim dance around the snake pit. We could have proof of such folly if their economies crashed and that would give us some data to work with. Such a potential is beyond us as the gutless whackos who lead countries

“Greenpeace International executive director Kumi Naidoo said: ''World leaders had a once-in-a-generation chance to change the world for good, to avert catastrophic climate change. In the end they produced a poor deal full of loopholes big enough to fly Air Force One through.''-- The Copenhagen Accord

So, third world loses some chum. But, they were never polluters in the first place—but they are wildly deforesting their resources are they not? China and India and Russia are the biggest polluters so what do they propose to give up?

The usual whiners show up to pout over their lost loot:

“Any new regime will have moral authority and credibility only if it acknowledges that every citizen of the globe has an equal entitlement to the global atmospheric space.  -- Manmohan Singh, Prime Minister of India

The fault lies with the capitalists, with capitalism….Capitalism is the way to the destruction of the planet. – Hugo Chavez, President of the Bolivarian Republic of Venezuela”[18]-- Climate Rhetoric: A Further Selection By Ronald Bailey December 18, 2009

Without capitalism theses two would be living in a soggy ditch and smashing worms between two rocks for their only meal of the day. It seems that individual citizens in these two countries are not really permitted to have equal entitlement to practice capitalism. They have some better idea and that usually means Marxism, tribalism or some other oppressive and foolish notions of governance and equality.

As usual, we have suffered through more idiotic blather from our elected and dictatorial ‘leaders’ who are incompetent and merely vicious and who should been given jobs in the latrines where they could do something useful. We, again, find losers in third world and the reason for that is because they somehow get losers for leaders. Show me a loser and I will show you a loser.

But, since I am supposed to be ‘sensitive’ to some issues I will offer to buy some  slim line galoshes for all the inhabitants of Tuvalu  and that should keep their feet dry for another thousand years.

Show me a loser and I will show you a loser.

rycK

Comments: ryckki@gmail.com

The Coming Age of Debt Defaults: The US May have to Lead the Way and Default on All Debts. We Must Learn New Ways to Live and Survive.

Abstract: Since we are going broke and our currency will collapse anyway we might study how Argentina and other countries like Greece and Latvia are handling their economies. This blog is somewhat satirical and whimsical in outlook and content but may reveal some truths and initiate some new thinking. There is no longer any hope of repaying our National Debt of [soon] 14 trillion dollars thus almost equal to our GDP as it soars beyond our ability to pay it off even in 30 years. We probably could not pay it off in 300 years even at 2% interest. We may have to use debt as a weapon and avoid taxes at all costs while investing in tangible assets. There are foreclosure scams utilized by minorities that are highly successful and that might be exploited as the government is bent upon restoring private property and the GDP by spending and printing money. We have to learn new ways of living and working and investing and that includes barter, trade and black market operations. This satire will hopefully inspire some new thinking 0n debt and survival.

My overview on the economy:

I have been writing on the economy for some years now[1][2][3][4] after watching it closely for several decades. It is sick. We have clearly passed the point of no return in debt terms as we cannot possible pay back all we borrowed from future US taxpayers. The bubble[5] that sank our economy with toxic assets is still bursting and encouraging two more bubbles[6] to burst soon. Some of our states are hopelessly mired in terminal debt and will be forced to default or be rescued by the US Treasury that is now also quite broke.  All they can do now is print money.

The theory or lack of it:

There are only two major factors to consider here in terms of theory: [1] Keynesianism is now being tested on a grand scale and [2] The lack of demonstrated cases where Keynesianism has clearly failed is not clear to us all at this time. We are stuck in the Realm of Keynes whether we like it or not or  even if it is sound and even more if it points to the utter destruction of capitalism as we know it. Capitalism is natural so it might have to proceed in spite of government. Thus, we need some new models to inspect so as to judge the impact of massive government spending on our financial futures. California[7][8][9]and New York are not sufficiently in the destitution tank, as yet, to show us new ways, but we may have some decent models in Europe to inspect and hopefully learn from their mistakes or advances as some are on the brink and now are in open revolt against the EU and IMF.

New ideas:

There is an impressive article today in the Jerusalem Telegraph on debt [that references the international expert on economics Ambrose Evans-Prichard quoted in many of my blogs] concerning currency interest rates and how several countries in the EU are crashing and may be forced to default:

“Europe's small, debt-strapped countries could follow the lead of Argentina and simply walk away from their debts.”[10]--EU/IMF Revolt: Greece, Iceland, Latvia May Lead the Way by Ellen Brown, Friday, 18 December 2009 10:49[Emphasis is mine in all quotes.]

As my first cranial neuron sparked upon reading this, driving me into a fleeting moment of disdain and threatening my usual reflexive response on economic heresies, an illuminating lightning bolt walloped me and conveyed the interesting notion that they may have the solution to a lot of problems, at least for some of them.  Notice that the ‘them’ also includes ‘us’ in the ensemble of entities we still refer to as the United States. Are we united in debt too? It seems so.

The maladies and remedies explained:

“"The European Union and International Monetary Fund have told them to replace private debts with public obligations, and to pay by raising taxes, slashing public spending and obliging citizens to deplete their savings. Resentment is growing not only toward those who ran up these debts . . . but also toward the neoliberal foreign advisors and creditors who pressured these governments to sell off the banks and public infrastructure to insiders."—Quote by Economist Michael Hudson in EU/IMF Revolt

Part of the reason is that only some EU countries are in the tank and that stems from the silly nostrum that one currency and one interest rate can accommodate, with fairness, some two dozen countries with a myriad of different problems. This, too, as we can easily establish, applies to our 50 states in the US. The second part that runs with “sell off the banks” does not pertain to us yet, but might. We rescued our zombie banks with printed monies so we need to wait a while.

So, what are we doing? We are following most of this rabid scenario by spending money we don’t have and promising the low class that we will ‘tax the rich’ to pay for what they get  all the while not mentioning that the ‘rich’ people’s  defined incomes now plunge down to below the median income of a person at $31,000 or about $41,000 per household. Indeed, when you inspect only the top half of the people who pay federal tax [only 60 million out of 120 million US workers with a total population of 302 million] you view a current tax liability of some $346,850 per federal taxpayer counting consumer debt but  when Social Security and Medicare are intercalated we arrive at a nifty $1,577,033. We can never pay this off.

This is not going to work out well as anybody but a Methodist, a drug addict or a liberal can see. So, we need to look for alternatives.

“"Greece has become the first country on the distressed fringes of Europe's monetary union to defy Brussels and reject the Dark Age leech-cure of wage deflation." Prime Minister George Papandreou said on Friday:  "Salaried workers will not pay for this situation: we will not proceed with wage freezes or cuts. We did not come to power to tear down the social state."-- According to Ambrose Evans-Pritchard in Sunday's Daily Telegraph quoted in EU/IMF Revolt

Inflation can fix that quickly.

After soliciting the advice of our most respected investor in the US we find that inflation is the solution:

“Every country that has denominated its debt in its own currency and has found itself with uncomfortable amounts of debt relative to the rest of the world, in the end they inflate,” Buffett explains. That becomes a tax on everybody that has fixed dollar investments.”[11]--Buffett Sees Massive Inflation to Handle Staggering Debt. Monday, May 4, 2009 By Dan Weil [Emphasis is mine in all quotes]

Alternatives:

“Evans-Pritchard suggested a similar remedy for Greece, which he said could break out of its death loop by following the lead of Argentina. It could "restore its currency, devalue, pass a law switching internal euro debt into [the local currency], and ‘restructure' foreign contracts."-- According to Ambrose Evans-Pritchard in Sunday's Daily Telegraph quoted in EU/IMF Revolt

Note that the US has already done this! We are devaluing our currency, our debt is denominated in dollars so we don’t have to switch any contracts or debt instruments like bonds back into dollars. Note, also, that gold and oil are quoted in dollars. We are going to stick it to China and Japan.

So, the game morphs into something very different:

[1] Debt, carefully managed now becomes desirable as the only recourse of governments is to tax those who still have money to give to the debtors as we see in the phony ‘Affordable Housing’ scam[12] that has already cost us some 10 trillion dollars in lost home equity and fraud. We have to note that those who defaulted on their mortgages do it again, probably with glee, when we spend taxpayer monies to refinance and adjudicate principle and interest for their benefit. The threat of default now becomes a political bargaining tool.

[2] Tax revenues fall because many have lost money in business and investments and have tax credits or losses to carry forward to later years. Private investors can carry forward and write off $3000 in stock market loses on personal income tax returns  for a few years as it now stands. States run out of money from lost revenues.

[3] Tax increases are currently stalled in terms of the rate of increase for political reasons but new ‘programs’ like ‘health care’ will allow the government to tax and tax and tax everything in sight that even resembles medicine or one of its derivatives. The government plans to [a] cut spending on the old folks who are too expensive to save and [b] force physicians to become government employees and forsake the pay-for-fee system we have now. Of course, the government will regulate salaries.

[4] The governments will ‘pay’ for the current financial schemes by printing money and inflating the currency. This is the popular snake remedy known as ‘quantitative easing.’ The example of Greece above cannot work this way as long as Greece stays in the EU because they cannot independently print money or control the interest rates of their own currency. This applies to Ireland, [not Latvia as yet] and Rumania and Spain as well.

And, to proceed, we can do the following:

On the national level we can:

[A] Default on our debt to China and Japan and elsewhere thus freeing up some 3 trillion dollars worth of debt. What can they do? Stop selling us the crap they do now?

[B] We can print money until our external debts are zero and our goods are dirt cheap while imports will be impossibly expensive. This is the system we used back in the Great Depression of competitive currency devaluations that we lost because of agricultural tariffs by our ‘friends’ in Europe. Study the Argentina case in detail.[13]

On the persona level we can:

[C] Avoid taxes at all costs and pay off debt only with inflated dollars. Thus, we need to refinance debts such as mortgages with as long a term and at fixed rates as possible. Try to use debt as a lever against government as in the house foreclosure scams.

[D] Convert back to barter and trade for goods and services and practice what the dope crowd in California does best: Undocumented Capitalism. [14] This is classic black market strategy. Close out bank accounts that can be easily monitored and go back to cash.  Be prepared to suffer ‘wealth taxes’ that are above and beyond income taxes.

[E] Seek investments only in tangible assets like gold or jewels or real estate where possible noting that there is no current way to tax these except for real estate.  Avoid any real estate that might be rent controlled or which might attract extra taxes. Expand your houses to accommodate extended families.

[F] Invest in stocks that are able to raise prices at will as the economy crashes such as Proctor and Gamble, Wal-Mart, Chevron, Safeway and similar corporations. Buy gold and hope that there is no special wealth tax on gold or silver.

[G] If inflation roars to several percent per month then the inheritance and other income taxes will rise to confiscatory levels in the inheritance case and max out at perhaps 70% for income taxes so transfer’s of wealth must avoid these snares. Plan early.

[H] Grow as much of your own food as possible. Learn how to dry and can and store.

[I] Try to do to the US what Argentina did to the IMF.

I hope this will stimulate some thinking as we need alternatives to what we are now doing.

rycK

Comments: ryckki@gmail.com

Krugman Calls to Pass Bills and We can Merely Unpass Them Later.

Abstract: Paul Krugman issues a clarion call to pass oppressive legislation no matter what with the idea that the far left can fix up what is missing later. Veiled threats to our Constitution and society are implied in this causative and Marxian missive. This piece avoids the usually sallow and sticky propaganda foreplay and rushes directly to radical measures that smacks of crude totalitarianism. This is some form of ultimatum. The opposition needs to react to these threats. Whatever they can do in the Legislative Branch we can undo later.

Again, we must suffer through a fusion of threats, entreaties, bribes and hopes that the ignoranti of the sordid liberal world will again be freshened with massive tax bills that abscond with American cash and radicalize our economy for the greater Marxian glory.  Constant threats to our society pour forth from the New York Times like rats scurrying out of the sewers during a flood. Their writers[1][2][3][4][5][6][7] and staff[8] struggle to reach up to the level of the shoe laces of their honored Pulitzer Prize winner: Walter Duranty.[9]  He bequeathed to them a certain literary invincibility when they published his lies, received uncultivated acclaim from the depression era masses and celebrated the leadership of Josef Stalin while he happily murdered millions. Duranty taught the NYT how to be pure propagandists that deftly think backward from their narrow ideology and turn or twist any news event into some new and pressing justification for revolution or higher taxes. They just cannot seem to capture the political magic of his essence because of the manifold ineptitudes and transparent sophistry of the Times contributors, but they try.  They are also broke. What else can they do? Print the truth? It was easier for them to honk and grind out their little pieces before the assaults on liberalism from William F. Buckley, Jr.[10], Rush, Mark Levine and Fox News, among others, as much of their grunt and grab rhetoric is effortlessly exposed and refuted. They look like porcine pickles when exposed by experts from the right; they are also frantic.

So, we find ourselves in the position of watching Dingy Harry Reid and Spartacus the Reptile [11][12] make up new rules and procedures to pass legislation all being celebrated by the rigid stoogery that sits in judgment of capitalism at the Times. Here is a sampling of their reasoning:

“A message to progressives: By all means, hang Senator Joe Lieberman in effigy. Declare that you’re disappointed in and/or disgusted with President Obama. Demand a change in Senate rules that, combined with the Republican strategy of total obstructionism, are in the process of making America ungovernable.”[13]--Pass the Bill By Paul Krugman Op-Ed Columnist Published: December 17, 2009 [Emphasis is mine in all quotes.]

Krugman is apparently emboldened to make such threats after his Master threatens others:

“Don’t think we’re not keeping score, brother,” Obama told DeFazio during a closed-door meeting of the House Democratic Caucus, according to members afterward.”[14]-- Pelosi, Rahm do not scare Rep. DeFazio By Walter Alarkon- 12/18/09   Rep. Peter DeFazio’s phone rang. On the other end was Rahm Emanuel. 

This first sentence is so plagued with Marxian ideology that we must take it apart word by word. This little piece has another peculiarity: the customary stogy and sophomoric krugmaniacal approach abruptly swings wide of the usual pedestrian-level propaganda grindings that are so common from Paul Krugman. The usual sticky, circular logical nostrums are absent in this unveiled threat as are the gratuitous ‘agreements’ offered that a good propagandist has to chuck to the dogs to give the appearance of being objective. This is mean spirited.

The vivisection:

[1] The word message is a mandate from the highest pinnacle of the leftist order and is a command that must be obeyed.

[2] Hang Joe [Capitol Hill’s master infuriator according to the Times[15]] is cipher for urging the leftist masses and their SEIU and ACORN knuckle-dragging agitators to do anything you can to coerce him into yielding the 60^th vote even if you have to smear him, his wife[16], his dog or whatever[17] and notice that if he were missing from action some drooling leftist governor would appoint a Democrat to this Senate seat to blindly fill in the last vote.

[3] The phrase change in Senate rules signals a major shift in the process of law that corrupts our system.

[4] The phrase disgusted with President Obama refers to Obama’s failure to free the Gitmo Islamo-Terrorists, allies in the attack on American and its ideals, and to summarily pull out of two wars, declared peace in our time and pay reparations and more.

[5] Voting against extreme liberalism is now total obstructionism. If you vote against the liberals you are evil and ignorant and insensitive and racist and worse.

[6] The single word ungovernable rings of the California Dilemma[18] where the law requires a 2/3 vote to raise taxes thus allowing the taxpayers to fund anything the drooling leftist drug addicts in Sacramento need to feed their addictions. This is the biggest affront to the progressives [read drooling Communists, Islamic surrender monkeys and their infected lackeys] that could have been incorporated into law

The message fades after this:

“But meanwhile, pass the health care bill.”--Pass the Bill

And, the essence of the rest of this screed:

“blah blah and baloney”--Pass the Bill

The message here is they are on the knife’s edge of catapulting us into a command government by ignoring the rules. They must pass these all-encompassing mandates to spend, spend and spend, because if they cannot spend they cannot exercise power.

Analysis and Commentary:

Missing amidst this pile of protosimian droppings from the Times are comments about  the obvious potential reversals of political roles if and when the liberals lose the House or the Senate or both.  If the House majority is lost then there NO WAY the Republicans will permit wild spending to continue on and will, in fact, refuse to pay for much of this bureaucratic bloating of government. They might refuse to authorize any additions to the National Debt thus forcing the government to make cuts to programs they just initiated. They will just say NO. Apart from that, the parental tolerance about the leftist protestors and marchers from the 60s that is now merged into the law to the present allows the obvious responses to liberalism and its excesses to spontaneously happen legally.  Interestingly, and unlike the smelly and ragged unwashed leftist masses in the inner cities, the whites and other conservatives in the suburbs can exercise their own form of civil disobedience by refusing to pay taxes thus threatening the states. They can in no way handle even 3 million angry dissenters [only 1%] and protestors who decide to refuse to cooperate with this government. Apparently, they do not understand that the horrifying treat of ruining capitalism, stealing our wealth, ruining our children’s futures and warping our laws are more than sufficient to start another revolt or revolution in this country. They apparently think that if they trash our Constitution and make some new ‘laws’ that seize our wealth that we will perform as sheeple[19] and obediently scrunch our hats in our hand, trundle in the muddy roads  and make obsequious gestures to our masters. They are mistaken.

We won’t give up our religion, guns, our wonderful lives and the futures of our children for these disgusting parasites that spoil our society.  We need a Conservative Caucus that numbers in the millions. We need to protest and show these leftist maggots where the money and power lies.

rycK

Comments to: ryckki@gmail.com

Third World Grunts and Gropes for Climate Scam Money while  the New York Times ‘Hopes’

Abstract: Events in Copenhagen sour for the frantic left as the thugs wreck the order and chaos reins in all quarters. The NYT holds out hope that the unwashed masses in Denmark can come to some ‘agreement’ to waste our wealth on phony EcoNazi programs and reward  the Marxist parasites with our money. Hugo Chavez and Robert Mugabe are celebrities. Obama can do little as he cannot pass a treaty through the Senate with 67 votes.  We must wait until Spain, California or Greece crash because of their EcoNazism when we will have proof of this folly. Unfortunately, the U.K. and Germany resist deterioration from the Green Disease for now.

Again, we must suffer through a mixture of threats, entreaties, bribes and hopes that the ignoranti of the third world will again be refreshed with loads of American cash and temporarily reinstated to Marxian glory.  These maudlin intermezzos spring like wild oats from the busy theatre known as the New York Times. We must recognize this ragzine by its eternal chorus of chants and mantras celebrating sloth, sodomy, abortion, Marxism and anything silly or immoral as they try to emulate their celebrated Pulitzer Prize winner: Walter Duranty.[1]  They just cannot seem to capture the political magic of his essence but they try.  It was easier before Fox News.

The only outcome that will satisfy the Times, their drooling lackeys and a throng of revered Marxist dictators in third world, would be for the big countries to be dominated by socialist governments, or the UN, so that they could practice the long-awaited redistribution of wealth[2] policies that usually terminate in inflation, war and the far left absconding with what they can carry away from the wreckage. It seems that those leftist societies that the Times so highly praise have an elite leadership cadre at the very top who are very rich by any standards thus satisfying the Trotsky fear[3] that such governments, once in power, the revolutionaries  would merely mimic the  abhorrent capitalists and usurp wealth and spend it on themselves.  Somehow, this conundrum is expediently ignored by the left. The political elites are paternal and wise and don’t have to follow any rules, other than their own--but we must keep this a secret: that the ‘individual’ is expendable if they might be any kind of a burden or threat to the state. Since the state is defined as this bunch of elitists then, well there you have it: A circular and unassailable logical fortress. The liberals win under all scenarios.

We see the Times chant and hum for the brawling, unwashed and maniacal leftist thugs and slobbering ghouls in the streets and alleyways of Copenhagen as they battle police for money while Al Gore struggles with the facts about the climate and Phil Jones is missing.  From the honored leaders of the left we read:

“When he said there was a “silent and terrible ghost in the room” and that ghost was called capitalism, the applause was deafening.—quote from Hugo Chavez” and

 ““When these capitalist gods of carbon burp and belch their dangerous emissions, it’s we, the lesser mortals of the developing sphere who gasp and sink and eventually die.”—quote from Robert Mugabe--[4] Putting our economy in the hands of Chavez fans By Andrew Bolt Thursday, December 17, 2009  [Emphasis is mine in all quotes.]

The ghosts of Lenin rise and toot their little infected horns; the NYT fauns and coos. But, Reason threatens to sour the leftist celebration of other people’s money:

“Most of the news from Copenhagen is grim. With only two days left to go, negotiations for a new climate treaty were stumbling toward stalemate. We hope President Obama and other leaders will realize how much is at stake and pull off a last-minute breakthrough.”[5]—NYT Editorial Two Days and Counting Published: December 16, 2009

The operative word here is hope.  There is no hope of a treaty here as it takes 67 votes in the Senate and that is impossible. So, the Times will settle for ‘agreements’ like hookers offer their johns in the very shadows of the NYT building in NYC. This failed newspaper hopes for its own bailout from the taxpayers. They are a big a failure as Marxism.

The Times Hopes

“If rich countries agree to mandatory caps on emissions — still a big if — they would be able to use these payments to offset their own emissions while they make the transition to cleaner energy sources.

That would be a good deal for both rich and poor countries and an even better deal for the planet.”-- Editorial Two Days and Counting [Emphasis is mine in all quotes.]

This is all very rosy and is based on nothing but fluff. The notion that the ‘poor’ countries, now bawling and appealing to Marxists like Mugabe and Chavez could take any funds from the UN or elsewhere and use it for anything other than limousines, chateaus in France and for splendorous living for the greedy elites  belies the last 90 years of history. Stalin and his lackeys slurped up the wealth and stuffed as much as they could in private Swiss Banks for the future as they did not believe in Marxism, Marxism-Leninism, Communism or anything else. This is all phony, expensive and suicidal for the world to give one thin dime to these parasites from the third world.

The Chum is Chucked:

“Contributions just from America would go a long way toward meeting the $40 billion a year that some experts think will be necessary to help poor countries monitor and police their forests — and to compensate their citizens for the lost income from logging, ranching and farming if they agree to leave their forests intact.”-- Editorial Two Days and Counting  

Taxes mandated by the UN now morph into Contributions. This is very amusing.

Here we recite, with song, incense and perhaps some rare California weed, the leftist Eternal Law of the Zero Sum.[6]  To wit: since the US and other ‘rich’ countries have usurped wealth from the poor their imperialist success derived only from the deliberate starvation and worse of the poor exploited masses.  Apparently, we are urged to ignore lessons from the nasty fall of the wealth and prosperity of Rhodesia after it was transformed into a Marxian latrine by the far left and the multi-trillion fold inflation that has wiped out everything the citizens had. This is truly an advance over capitalism as viewed by the left. We could wonder what happened to the wealth of Cuba too.

Missing from any robust rebuttal is a precise example of what happens when the EcoNazis get full control of a country and trash it beyond recognition with phony taxes and regulations. My hopes that the California Model [7][8][9] would show the world some lessons in liberal prowess are slow to materialize since they are not crashing fast enough to highlight the particulars as yet.

“Supporters of AB32 [CA Assembly Bill #32- ed. ]claim it will create a windfall of new “green jobs.” However, a recent study shows that a green jobs push in Spain has been a disaster. Spain lost 2.1 private sector jobs for every “green job” created, and the cost to the taxpayers of Spain for each of these news jobs was a staggering $700,000.”[10]--The Jobs Initiative - Suspend AB32 By Dan Logue California State Assemblyman representing the 3rd Assembly District Mon, December 7th, 2009

The promise of ‘green jobs’ is wildly overstated and is now reduced to a crude joke.[11] Most cost over $100,000 to create.[12] All this makes sense to a leftist however as they just want the wealth and power and care not if the system crashes.

California is a joke and a social disaster and they are heading for default, but the situation is not serious enough as yet to serve as a firm example of what EcoNazi[13] programs can do.  But, we have only to wait.

The race for your money is on by the left and they are frantic that they secure some ‘deal’ to divert a few trillion dollars to third world before one of the Sucker States succumbs to economic failure due to spending and restructuring their society using Green Weenieism.

All they have is your money and they want it all.

rycK

Comments: ryckki@gmail.com

Note: Plugs the Buffoon [Biden] Holds “Jobs” Meeting for Big Business and Unions and Ignores Small Business.

Abstract: Biden is a liar and idiot. Biden hosts a meeting to give jobs to unions and big business and ignores small businesses that generate 70% of the jobs in the US. Nothing has changed.

Joe Biden[1]—a.k.a. Plugs[2] the Buffoon[3]  is a miserable excuse for a man [I am smarter than youse] and is a stooge for the unions. When we need to boost jobs in this economy we need to give breaks to small businesses so what does Plugs do? Why, he gathers his big benefactors and unions into his meeting to give them special perks and such to make EcoNazism a success.

More of you tax money down the drain. They are only going to give jobs to their crooked unions and EcoNazism[4][5] and other forms of quackery and not small businesses because they won’t hire the corrosive and expensive and lazy unions.

We sink further in debt.

rycK

Comments to: ryckki@gmail.com

Background on Plugs and Phony Jobs programs:

“Mr. Obama told the chief executives that he wanted to know: “What’s holding back business investment and how we can increase confidence and spur hiring? And if there are things that we’re doing here in Washington that are inhibiting you, then we want to know about it.”[6]-- Obama Tackles Jobless Woes, but Warns of Limited Funds By Jackie Calmes Published: December 3, 2009 [Emphasis is mine in all quotes.]

“Both Mr. Obama and Vice President Joseph R. Biden Jr., who introduced him, emphasized that the financial industry has stabilized and the stimulus package has created or saved up to 1.6 million jobs, according to recent nonpartisan analyses.”-- Obama Tackles Jobless Woes

The previous ‘jobs’ program spent $92,000 per job![7] And, then, we spent $24,000 per car on the Clunker Follies and a mere $43,000 per house on the housing scam. [8] And, none of these had a lasting effect. All of the money to do this was either borrowed or printed up quickie fashion by our government.

“"Read my lips," Biden said, using Bush's famous phrase while referring to a Barack Obama administration.”Nobody, nobody making less than $250,000 is going to see a penny of their taxes go up."[9]—Biden[10] in an incoherent rant at some county fairgrounds near the campus of Ohio University in Athens on Oct 15, 2008.

““If we don’t act swiftly and boldly,” declared President-elect Barack Obama in his latest weekly address, “we could see a much deeper economic downturn that could lead to double-digit unemployment.” If you ask me, he was understating the case.”[11]-- Fighting Off Depression By Paul Krugman Op-Ed Columnist Published: January 4, 2009 . [Emphasis is mine in all quotes.]

Where is the ‘patriotic part’ of this mindless plea? Where is the Plugs the Buffoon on this matter?

“"You got it.  It’s time to be patriotic, Kate.  Time to jump in, time to be part of the deal, time to help America out of the rut, and the way to do that is they’re still gonna pay less taxes than they did under Reagan."—Joe Biden, plagiarist and a person who cheated his way through Law School at Syracuse.  This link has Joe talking away on TV: http://www.youtube.com/watch?v=cX5nlKcTzvU&eurl=http://americansforprosperity.org/index.php?id=6409

Krugman Offers Us Naïve Fairy Tales about Financial Disasters and the Lessons We Should Learn from them.

Abstract: Paul Krugman mumbles about ‘events’ and how their ugly consequences should move people to learn from these mistakes and to change accordingly. He attacks Greenspan for financial policies but conveniently fails to mention several dozen failed social programs concocted by liberals. He now advocates regulating the banks with some undefined ‘financial reforms.’ This probably means nationalization. Translated, this means more and more government spending and the threat of massive inflation and a potential default on our international debts.  There is no limit to how much money the liberals can spend in order to bring us back to prosperity. If we keep spending like this our economy will collapse in a hurricane of debt, unemployment and inflation. That is apparently fine with liberal Democrats but they will never be moved by this evidence.

The theme:

“When I first began writing for The Times, I was naïve about many things.”[1]--Disaster and Denial By Paul Krugman Op-Ed Columnist Published: December 13, 2009

“But my biggest misconception was this: I actually believed that influential people could be moved by evidence, that they would change their views if events completely refuted their beliefs.”— Disaster and Denial [Emphasis is mine in all quotes.]

I can find no evidence of any change here in this person in the last 7 years. But, stay tuned. Maybe his movement was only colonic.

This current propaganda piece begins with probably the most sophomoric statement our igNoble Prize winner[2] has ever made. Can we suggest, for discussion,  an infected  string of social programs [read events to play the game here] that failed like: The Great Society, HUD, War on Poverty, Social Security, Medicare, WW1, WW2, federal welfare and Amtrak to suggest a  very few? We might then launch some inquiries into how such failures events ‘moved’ the leftists to repeat their catastrophes, or, why they were not ‘moved.’ The current theme is rather barefaced this time and some might wonder if Krugman has lost his marbles. He has not. We can push this comedy along with the festival atmosphere he invites and present our author with several notable and expensive leftist program failures and see if they qualify to ‘move’ him by the evidence. They will not.

He begins with attacks on others:

“I’ve been highly critical of Alan Greenspan over the years (since long before it was fashionable), but give the former Fed chairman credit: he has admitted that he was wrong about the ability of financial markets to police themselves.”— Disaster and Denial

Yawn. Here is the point: we are going to massage Greenspanism[3] [very low thus dangerous interest rates] and suffer through Krugman telling us he knew all along that banks would fail and we need more regulation or nationalization.  Low interest rates combined with a wild abuse of credit are to blame for this bubble and no Dem criticized this at the time because this was the price of low unemployment and prosperity and tax revenues. Why not raise interest rates now and correct this problem? They wanted more and more spending during the Bush2 Era and thought 5% unemployment was unacceptable.

An attack on the financial system:

“…with the meltdown caused by a runaway financial system still fresh in our minds, and the mass unemployment that meltdown caused still very much in evidence — every single Republican and 27 Democrats voted against a quite modest effort to rein in Wall Street excesses.”— Disaster and Denial

This current debt-driven deflationary spiral we are mired in may turn viciously into an inflationary monster as we hear from Paul Volker: “America is increasingly aware of just how deeply embedded and incestuous the Wall Street-Washington relationship has become. Who within this Wall Street-Washington circle “gets it?” Paul Volker.[4] Yes the banks made mistakes and we need the Glass-Steagall laws back to separate normal banking from investment banking.

The target of Krugman’s wrath, Allen Greenspan, warns:

“"You cannot ask a central bank to do more than it is capable of without very dire consequences," Greenspan continued, saying the United States faced a serious long-term threat of inflation unless the Fed begins to pull back "the entire stimulus it put into the economy."[5]-- Fed can do no more to cut unemployment: Greenspan [Emphasis is mine in all quotes.]

That comment, although very true in my view, will send Krugman and his toadies into spasms.

The mistake: Our phony government has experienced a loss of potential tax wealth from housing market declines that forced contractions in credit and ruined some banks. We are now stuck with toxic assets that have not been disposed of and which grow eerily more toxic daily.  The government then believes that spending, printing money or borrowing can somehow replace that lost portion of the GDP and can stimulate job growth with stimuli. It cannot.  The stimulus #1 has not worked and neither did cash for clunkers or the housing subsidies. The previous ‘jobs’ program spent $92,000 per job[6] And, then, we spent $24,000 per car on the Clunker Follies and a mere $43,000 per house on the housing scam. [7] And, none of these had a lasting effect. All of the money to do this was either borrowed or printed up quickie fashion by our government.

These were blunders, but will Obama and his leftists see their ‘mistake’ and take action? No. They will spend and spend and spend our way to prosperity using the failing California Model [8][9][10] which will result in default and depression.

Here, we must assume that new ‘controls’ over the banking system would be positive and prevent such a further disaster in the future. With ostensibly the same set of neurons blinking on this issue it is strange that Krugman fails to alert us on increasing our debt to astronomical levels—part of the problem of debt-deflation that caused this mess. No. He stodgily advises we just keep spending and concocting stimuli to help the economy. I think he wants to crash the economic system.

Krugman wanders around before he blames the conservatives:

“Talk to conservatives about the financial crisis and you enter an alternative, bizarro universe in which government bureaucrats, not greedy bankers, caused the meltdown. It’s a universe in which government-sponsored lending agencies triggered the crisis, even though private lenders actually made the vast majority of subprime loans. It’s a universe in which regulators coerced bankers into making loans to unqualified borrowers, even though only one of the top 25 subprime lenders was subject to the regulations in question.

Oh, and conservatives simply ignore the catastrophe in commercial real estate: in their universe the only bad loans were those made to poor people and members of minority groups, because bad loans to developers of shopping malls and office towers don’t fit the narrative.”— Disaster and Denial

The commercial real estate bubble, now in progress, is the second bubble[11], and is a reflexive consequence of the first bubble which is still bursting.[12] There were no phony loans in that arena unless they were SBA loans to minorities.

This is typical Krugman. We apparently dismiss the blatant forcing of banks[13] and other servicers to make loans to people with little or no credit [or even a job] by the threat of judicial action by the Justice Department. We apparently don’t hear about the CRA and pressure from greenlining. org and ACORN to force banks to make lousy loans. The government under Carter and others pressured the banks to make loans and thus gave them CRA ‘ratings’ that were important when government approval was needed for mergers and other businesses deals. Thus, by withholding permission they pressured the banks into making bad loans to minorities. By political pressure ACORN and NACA [Neighborhood Assistance Corporation of America] got control of “large pools of mortgage money to them, effectively outsourcing the underwriting function to groups that viewed such loans as a matter of social justice rather than due diligence.” [14] The NACA mission was: “The NACA program focuses on families who could not access conventional financing, and borrowers that are considered B or C and sometimes D credit.”[15] Note that this process makes toxic asset securitized bundles of mortgages more toxic.

So, we have the government and private groups pressuring banks and others to make loans to people who have no credit ratings and should not receive these loans? Yes, that is liberalism in full bloom.

As always, we get half a loaf from the NYT. Big government is praised unless it is of the massive type that George Bush seemed to allow. But, the current massive national debt, rising to 14 trillion dollars soon [about 100% of our sinking GDP] is not mentioned. Nancy Pelosi [a.k.a. Spartacus] [16][17] had firm control over the last THREE budgets and now works on the FORTH, which included Bush’s last two years, but we blame Bush for his spending and debt. Krugman appears to be blissfully unaware that the CRA [the phony Community Communist Reinvestment Act][18][19] forced[20] banks to lend out money at a loss and that this contributed to the collapse of the credit markets.  

Obama, quoted in the video [http://hotair.com/archives/2008/10/06/was-sub-prime-lending-ever-a-good-idea/ ] favored this. He comments on the ‘money flow’ and that was largely supplied by Fannie Mae and Freddie Mac who took in some 3-5 trillion dollars worth of bad mortgages and paid off the banks and other servicers who structured the loans. Thus FM & FM supplied trillions of dollars for this obscene redistribution of wealth to the low class and the system crashed. The phony mortgages were bundled and sold off as ‘investments’ for cash to create some more subprime loans. Fanny Mae was the lavatory where bad loans could be flushed and Franklin Del Ano Raines[21] as head of Fannie Mae made a cool $90,000,000 dollars off this scam even thought he was accused of crimes[22] in this job. Oh, he is black and works for Obama [or did during the campaign]? Oh, yes. Is Raines a fat cat[23] under the current Obama tirade? FM made huge cash contributions to Obama and Chris Dodd and many other Democrats. No corruption here? This was all a vision of Greenlining.^[24]How many illegal aliens have sub prime mortgages? 5 million?? Those toxic assets were, in part, bundled and sold around the world and are now ‘toxic” assets and they will remain toxic until the properties are foreclosed upon and sold for a loss.

Krugman must not know of this.

“So it’s up to the Democrats — and more specifically, since the House has passed its bill, it’s up to “centrist” Democrats in the Senate. Are they willing to learn something from the disaster that has overtaken the U.S. economy, and get behind financial reform?

Let’s hope so. For one thing is clear: if politicians refuse to learn from the history of the recent financial crisis, they will condemn all of us to repeat it.”— Disaster and Denial

Translated, this means that Krugman wants us to again make more phony loans under some system of ‘regulation’ of banks.  This is true because if these ‘regulations’ were to filter out buyers with little or no credit then the CRA legislation would be dead and the ‘poor’ would not get their gratuitous loans. Krugman wants us to keep shoveling good money after bad and to continuously fix up mortgage payments for people who do not deserve credit. That is leftist politics.

Carving through the chum chucking and fog we must realize that these liberals will say or do anything to get more money into the hands of the their constituents in the low and criminal classes and the only way they can do this now is  with phony government loans and ‘fixing’ bad mortgages several times apiece. They want the banks to take the haircuts.  This is just a social tax to the left. This is justice.

Notice that the premise here is that people with no credit and a past history of default should have their debts ‘refinanced’ and where would that money come from? From the banks! Where else? They cannot, at this time, raise taxes because that would sink them in the polls and trash the economy. Missing here in this essay from the NYT based on Krugman’s words “…if events completely refuted their beliefs…” in this test case where the previous refinancing recidivism rates hit 70%[25] is apparently not evidence of a failed program!  This program doesn’t work! Maybe Krugman’s beliefs are not what we think. Maybe he ‘believes’ that any scheme however sordid, illegal or silly that puts money in the pockets of the low class and encourages them to vote for democrats is his belief. Yet another liberal social program failed and Krugman cannot find it.

Restating Krugman with respect to bank refinancing mortgages for people who have no credit we can predict this failure “…will condemn all of us to repeat it.” He is not moved by evidence in this refinancing scam? Either our author is still “naïve about many things” or he just plays the political game and blindly supports the far left.

I pick the latter as most probable. We are condemned to lose more money and no evidence of failure will convince the left to stop grunting and grabbing our wealth to just waste it. I doubt that a complete collapse of our financial system would influence the ‘beliefs’ of liberals. It would just encourage bigger government and more spending.

There is where we are with the left: hopeless.

rycK

Comments: ryckki@gmail.com

The New York Times Laments Lack of Bank Lending. We Should Refinance Mortgages Regardless of Credit Ratings or Ability to Repay Loans.

Abstract: The leftist mantra of free housing and continuous refinancing of mortgages is recycled at the NYT ad nauseum. No amount of logic or revealing the tacky histories of giving freebies to losers will persuade the do-gooders to relent from printing more money and giving it freely to the low class, credit unworthy folk or criminals in exchange for their votes. It seems that our government is currently “refining our understanding of borrower behavior” as they struggle with the inability to “work” with the unfortunate victims of capitalism and other low classes. Of course, there is no mention of several dozen failed social programs that failed to lift many up from poverty, but the NYT would never address such obvious failures and lay blame. Soon, our government will have to address and refine their understandings of taxpayer revolts and other behaviors. Those who played the game with good credit and industry and cautions spending will now be the targets of vicious tax mongers who will try to tax everything they have and ‘give it to the poor.’ All they have left is our wealth and they are going to get it one way or another.

The purpose of the New York Times (that is known affectionately as the Walter Duranty Papers[1] in honor of their most beloved Pulitzer Prize winner) is to defeat capitalism and infect our society with Marxism [or worse] so, a firm control of the banking system along with muzzling the media are two formidable but essential vectors in this war against ‘the rich.’ The only end result that will satisfy the Times and their lackeys in third world would be for the big countries to be dominated by socialist governments, or the UN, so that they could practice the long-awaited redistribution of wealth[2] policies that usually terminate in inflation, war and the far left absconding with what they can carry away from the wreckage. It seems that those leftist societies that the Times so  highly praise have an elite leadership cadre at the very top who are very rich by any standards thus satisfying the Trotsky fear[3] that such governments, once in power, would merely mimic the capitalists and usurp wealth and spend it on themselves. Apparently, using the usual redaction methods, we are pressed to believe that those in power in the Marxist countries live in austerity and have the best interests of the ‘poor’ constantly implanted in their policies. We can cite several cases in Eastern Europe and several dozen in Africa that defeat this premise. But, numerous demonstrated failures are no barrier to an ideologue, so they grind away at their sophomoric notions and hunt for new ways to grab wealth and ostensibly spread it around for the masses. The very fact that wealth exists is proof of their sincerity [and our guilt] and this establishes the need to control it.

So, today, the NYT ponders the problem of lending while ignoring debt, waste and corruption.

“Mortgage rates in the United States have dropped to their lowest levels since the 1940s, thanks to a trillion-dollar intervention by the federal government. Yet the banks that once handed out home loans freely are imposing such stringent requirements that many homeowners who might want to refinance are effectively locked out.”[4]-- Interest Rates Are Low, but Banks Balk at Refinancing By David Streitfeld Published: December 12, 2009 [Emphasis is mine in all quotes.]

As in most propaganda pieces the reasons for such hokum relate to the fact that banks were pressured and threatened if they did not loan money to people with little or no credit and stable jobs.  There were never any strict homeowner requirements on why or how to repay such loans as they were not allowed to be part of the refinancing contracts. They just threw printed money at the problem. This was an early attempt at redistribution of wealth disguised as ‘affordable housing’ and enforced by leftist organizing groups such as greenling.com and ACORN and others including our government.  We cannot afford affordable housing and our debt shows this. But, we are going to refinance and refinance until we get it right.

Not mentioned is the salient fact that low interest rates are mandatory and are the only way to fight debt-deflation and if they were raised the service on our National Debt would double or triple easily thus smothering our entire tax revenue  base with interest payments. Public debt is not an issue for the left as they can ‘always tax the rich.’

The  major predicament in this economy was the wild and unrestrained brutalization of credit in the pursuit of egalitarian goals that allowed people with little or  no creditworthiness to ‘buy’ homes with nothing down. This was mandated by leftist political pressure groups and the government as in the ‘affordable housing’ laws using a Neo-Marxian social remedy called the CRA [Community Reinvestment Act].[5][6] The original purpose of this socialist scheme was to redistribute the wealth without equally distributing the cost. They made that part work. This is just a wealth transfer. Thus, the low class was offered wealth in terms of this phony nostrum of ‘affordable housing’ with absolutely no responsibilities to repay its debts and only their future votes were desired as payment. The credit defaults came largely from the low class, comprised mostly of Democrats, their unconscious lackeys known as ‘independents’ and criminals such as illegal aliens. We lost 10 trillion dollars in wealth in that scheme. We are going to lose much more as Fannie Mae and Freddie Mac are insolvent and that is because these two places were dumping grounds for the debts to be lumped directly on the taxpayers; that much is crystal clear.[7] They now want to ‘refinance’ and redump the debt back into Fannie and her inbred brother. There is no limit to this. There is no limit to how much money they can print.

As predicted here, New York State is out of money:

“Declaring "the state has run out of money," Gov. David A. Paterson announced today the state will cut payments due school districts, cities, counties and insurances carriers by $750 million for the month of December to keep New York's books balanced.””[8][9]-- Gov. Paterson says state is out of money, cuts aid By James Heaney News Staff Reporter Updated: December 13, 2009, 1:34 PM  

This is a shock.

“The governor was sharply critical of the State Legislature for failing to revise the budget to close projected deficits. A deficit reduction plan approved by the Senate and Assembly came up $500 million short of closing a projected $3.2 billion deficit, he said.”-- Gov. Paterson says [Emphasis is mine in all quotes.]

Now, we get to the second part of the giveaway: more debt!

“Refinancing could save owners hundreds of dollars a month, which could be spent, saved or used to pay down debts. Extra spending would help lift the economy, and lower payments might spare some people from losing their homes to foreclosure.” -- Interest Rates Are Low

Where does this money come from?

Notice that the premise here is that people with no credit and a past history of default should have their debts ‘refinanced’ and where would that money come from? The printed money would then boost the economy? Missing here is an essay from the NYT on the test case where the previous refinancing recidivism rates hit 70%.[10] Yet another liberal social program failed. Translated in terms even a liberal ought to understand this means: those with no or very poor credit defaulted and when they were given more money and another chance they defaulted again. I wonder if there is a social message here. Yes, there is! We need to keep refinancing these loans because if they are not paid off the taxpayers will gladly pick up the bill and the good people will vote for Democrats who shoveled out free dollars using this phony plan. That is how we share the wealth! Just keep dumping debt into the refinancing cycle and help out the ‘poor.’

New York State will now default. Isn’t it too bad they cannot just print money? California [11][12][13] is close behind and New Jersey is a brisk third.

Future controls:

“The plight of homeowners has become a volatile political issue. On Friday, as the House passed a series of new financial regulations, it narrowly defeated a provision that would have allowed bankruptcy judges to modify the terms of mortgages. The measure was strongly opposed by the banking industry.” -- Interest Rates Are Low

The ‘measure’[14] was concocted by  two criminals: Chris Dodd (D-CT) and Senator Kent Conrad (D-ND) who took bribes for their support of other crooks and were enshrined in  the group known as “Friends of Angelo (FOA).” You might recall those are the special mortgages that former Countrywide CEO Angelo Mozilo”[15][16][17] created for these bribe-takers and saved our good senators a lot of money. Let us rejoice. This new ‘measure,’ crafted by the same crooks, contained 1,136 pages of who knows what. Such legislation will not be placed in the public domain for inspection because we ‘are in a hurry.’ The NYT does not mention such criminality in this article. Nobody knows how this would work out.

The culprits! Capitalist Banks!

“President Obama, in his weekly address on Saturday, placed much of the blame for the recession on “the irresponsibility of large financial institutions on Wall Street that gambled on risky loans and complex financial products, seeking short-term profits and big bonuses with little regard for long-term consequences.”” -- Interest Rates Are Low

So, some radical Marxist places blame on the banks that were forced into lending money with no hope of much return. That makes sense to a liberal. Why did we bail out AIG then? We let Lehman and Bear Stearns go down and why? Not enough bribe money spread around the Fed and Treasury? Geithner was in the middle of this mess and is now in charge. But, now, who pays for the refinancing? Oh, the taxpayers again? Our economy is crashing because of debt-deflation[18] and our government is wildly printing money and we need ‘reform?’ Who can reform Congress? The voters may tell us all about that in 2010.  

After some sob stories we come to this impasse:

“An Obama administration program to encourage the refinancing of loans owned or guaranteed by Fannie Mae and Freddie Mac, the government-controlled mortgage giants, is off to a slow start.

The Home Affordable Refinance Program, known as HARP, was designed to benefit between four and five million homeowners whose loans exceeded the value of their property by as much as 5 percent. But as of Sept. 30, only 116,677 loans had been refinanced.

“We’re refining our understanding of borrower behavior,” said a Treasury Department spokeswoman, Meg Reilly.” -- Interest Rates Are Low

Where is this money coming from??

It is difficult to understand this comment by Meg Reilly here but this is a possibility:

“"We are taking additional steps to enhance servicer[19] transparency and accountability," Reilly said. She said the goal was to increase the rate that troubled home loans were converted into new loans with lower monthly payments….”[20]

Where is the accountability of the home owner with respect to repaying the loans?? Nowhere. There is not the slightest interest in addressing the origins of this credit mess that allowed certain people to get homes for nothing  and now we are going to blame mortgage people when their clients default? This is some legal threat to lenders and they seem to be sensitive to this menace.

A testimonial by a servicer:

“Jeff Jaye, a mortgage broker in Danville, Calif., said only three of the refinances he submitted to the program were successful. More than a dozen were rejected for various reasons, including the existence of second loans or the borrower’s lack of equity.”— Interest Rates Are Low

So, his credit worthiness is crap? Why not refinance anyway? These are all metrics in the assessment of credit worthiness. Apparently, our government wants the banks to just lend and lend and lend and refinance ‘Main Street’ with abandon and let the deficits rise and ignore the debt. We are 12 trillion in debt and headed for 14 trillion with no known way to pay back the debt. There is not a single plan in Congress to even address our printing of money. Letters to my Senators yield nothing in return on this issue.

I think we taxpayers ought to be “refining our understanding of government behavior” as they cannot seem to understand the fundamental aspects of credit, the low class mentality and fiscal responsibility. I don’t think they want to and this is just a ‘soak the rich’ scheme along with Cap and Trade and other phony taxes that will sink our economy. That fits in well with the central tenets of Marxism anyway.

The banks are correct for not lending to deadbeats and untrustworthy types and illegal aliens. If we have another debt-deflationary spiral like the last one our currency will collapse and we will see anarchy.  Our government stupidly wants to ‘fix’ the debt problem with more debt. Soon New York and California will come begging for alms from Washington and we will just print more money.

Vote out these ghouls in November

rycK

Comments: ryckki@gmail.com

Human Flatulence, the Errant Vegans and Reducing Sources of Carbon Dioxide: Eat Meat and Produce Less Gas!!

Abstract: Vegans and others who eat vegetables pollute the planet with toxic flatulence that warms the planet while real Americans who eat steak and cheese do not threaten our future and smell better for it. Liberals who are in favor of reducing green house gases should switch their dietary habits to consuming only recycled foods that have already been digested by bacteria and are thus free of toxic gases in the second pass. The fat content is lower and that would be a second benefit. Liberals need to be educated on this important topic so we can save the planet and keep the prices of beef and cheese low. Educate a liberal on the environmental damage done by veggies and suggest massive taxes on these toxic substances so we can save the planet.

The advice on what to eat and what not to eat is an ongoing essay in politics. Red meat has been damned for decades without evidence except for the howling lefties who hate John Wayne and cattle.  The famous Nurse’s Colon Cancer study was published and was a treat for anyone with a mathematics background as they solicited biannual anecdotal comments from 112,000 nurses, truncated the responses down to about 80,000 and thus threw about 35% of the data and a careful reading of the original paper showed that there was no problem with eating meat if you merely are more white meat than red.  I passed this paper around for comments when it first came out among numerous scientists at a large clinical chemistry unit for all to have a good laugh.  But, I have to thank the goodie-goodies for depressing the market for prime beef as it has lowered the costs and improved my lifestyle considerably. Even useful idiots can provide a decent service for the rest of us on occasion. Most of our ‘science’ today is run like apes judiciously picking the juiciest berries from the tree while thinking about sex. The corruption at East Anglia by Phil Jones[1] and his fellow ‘scientists’  in the Global Warming Follies[2] apparently indicates that they are following the apes in this important respect. We don’t know if drugs are involved yet. They threw out data[3] that tended to compromise their prejudices. Other distinguished ‘scientists’ at SUNY Albany have now been accused of just manufacturing temperature data from China temperature monitoring  stations and plugging those into climate models to fake temperature increases.[4] What would you like to believe? Just find a crooked ‘scientist’ and they will arrange the conclusion before experiments begin so as to suit your politics or other fancies. Hookers on 8^th Avenue in New York City are more honest than this.

Facts about out gassing:

Humans excrete the poisonous and hazardous gas carbon dioxide [CO₂] and its more hazardous and flammable pollutant methane [CH₄] and are both nasty green house gases according so some suspect scientists.[5] Methane is 23 times more dangerous in the atmosphere than CO2 in terms of global warming.[6] The percentage of CO₂ in human exit gases range from 10–30% by percentage. Methane, an even more dangerous gas that is causing global warming is about 0-10% depending on several factors.[7]

But some in the shaky British science community, now illuminated in the news spotlights because of their alleged nefarious acts of scientific subterfuge in East Anglia, have suddenly reversed the facts and have a plan to change our eating habits:

“To fight climate change and tackle the growing crisis of diet-related diseases such as diabetes, heart disease and cancer, British consumers must cut down on meat and dairy produce, reduce their intake of processed foods and curb waste.”[8]-- Eat less meat and dairy: official recipe to help health of consumers – and the planet Shrinking of food and drink industry likely, says report By Felicity Lawrence The Guardian, Friday 11 December 2009 [Emphasis is mine in all quotes.]

That dairy produce comment does not include cheese because it lacks carbohydrates.

Really? [ Partial credit allowed for dairy products as they were clumped together to disguise the facts.] The facts seem to indicate otherwise:

“Flatulence-producing foods are typically high in certain polysaccharides, (especially oligosaccharides such as inulin).). Those foods include beans, lentils, dairy products, onions, garlic, scallions, leeks, turnips, rutabagas, radishes, sweet potatoes, potatoes, cashews, Jerusalem artichokes, oats, wheat, and yeast in breads. Cauliflower, broccoli, cabbage, Brussels sprouts and other cruciferous vegetables that belong to the genus Brassica are commonly reputed to not only increase flatulence, but to increase the pungency of the flatus.”[9] Rice is a notable exception in this carbohydrate class as it does not produce gas.[10] Humans discharge on average approximately 600 ml in roughly 13-14 passages. [Emphasis is mine in all quotes.]

“"As a group, vegetarians produce more gas than meat-eaters because the intestinal enzymes can't digest the cellulose in vegetables' cell walls. However, the colon's bacteria relish the stuff. The outcome: When a group of young men, in the service of science, feasted on a diet rich in pork and beans, their flatus elimination increased from 15 ml to 176 ml per hour!"[11]-- The Facts About Flatulence by Margaret C. McDonald. Nov/19/1990[Emphasis is mine in all quotes.] [It must have been the beans. E.d.]