Saturday, October 11, 2008

Message to the Left

What caused the crash. A very reasoned and smart letter.

It’s government that’s the problem. And all this talk of more regulation is not the answer.

Friday, October 10, 2008

$77 a Barrel

Oil is dropping, the dollar is rising.

I predicted we’d see gas in the $2 range sometime this year. It’s happening later than I thought, but it’s looking more likely all the time. My local gas station has it at $3.50 $3.44 a gallon right now. But gas prices always lag oil prices.

When the stock market settles, as it will, we may see the economy rebound sooner than expected. Just not before the election.

UPDATE: It’s already at $2.80 in Tennesee. 

Tuesday, October 07, 2008

No Depression

I hear people around me talking about how we’re about to enter another great Depression. But I find that fairly absurd. The economic conditions aren’t there yet and this article backs me up.

I definitely think we’re in a recession that may last awhile. Probably a lot longer if Obama gets elected.

I remember when the the 90s rolled around. Comedian Dennis Leary was on MTV saying that the 90s will be like the 60s upside down. Well, the 2000s are reminding me in some ways of the 70s. And I think the decade will close out the way the 70s did, with a stagnant economy and a foolish, inept president who will only serve one term.

Hopefully, I’m wrong. 

Monday, October 06, 2008

A History of the Crisis

This helpful PDF document gives you a rundown on how this whole financial mess came about. Hint, the biggest villains in this mess, are those who are trying to act as the saviors now. They should all burn for this and not be rewarded.

Sunday, October 05, 2008

Scary Article of the Week

Welcome to a new era of socialism. Barack Obama didn’t even need to lift a finger, except to push a vote button.

The people who run the government like to act like they care what we think, but they’re really more concerned with sweeping their mistakes under the rug. And what they did last week was sell future generations down the river. From all accounts, this is only the beginning of a huge mess. And perhaps the end of capitalism as we knew it.

Money quote:

Long-term effects? Heck, we’re already seeing proof of the long-term effects in the short-term. California’s Arnold Schwarzenegger, whose state has a welfare dependency rate that is 2-1/2 times that of the rest of the nation, is making noises about getting his own $7 billion bailout. The auto industry is getting what was unthinkable even two years ago: $25 billion in loan guarantees, and with barely a whimper of objection.

Ah yes, welfare bankrupts a state, which turns to the Feds for more money. Good going Arnold. So much for the Terminator. 

Wednesday, October 01, 2008

Banned Video

Speaking of banned videos. This one induces nausea. Stuff like this really makes me want to run, not walk, from the Democrats. >shudder<

Tuesday, September 30, 2008

Crazy Times

Today kept me insanely busy, as I watched the stock market crash and the politicians fail to pass the bail out. I was up till 4:30 last night. Up at 9 and now it’s 1:30 with still some hours to go, finishing a project.

Man, unbelievable that Congress won’t go in session until Thursday. Why are we paying these clowns? And Obama has still failed to offer any ideas. Nothing but the usual attacks on “greed” with no ideas or solutions. Instead he mocks McCain for at least trying to get involved.

A trillion dollars is said to be lost today on the stick market. What nightmare will ensue tomorrow. Let’’s hope cooler heads prevail.

At least oil is down and the dollar is up. 

Saturday, September 27, 2008

Kramer’s Meltdown

One year ago, Jim Kramer went nuts on his show about the very things happening now. He saw it in advance, and warned everyone. People said he was crazy. I remember linking to this video at the time. Here it is again.

Personally, I worry about Obama getting elected, because I don’t think he has a clue how to handle this mess. And the Dems he likes are even more clueless. They helped cause it in the first place. 

Friday, September 26, 2008

What Caused the Meltdown?

The same people who are championing the bailout are the most guilty in this mess. 

Wednesday, September 24, 2008

Mother Of All Bailouts (MOAB)

Bush gave his speech tonight, but I have been reading up on the issue and it no longer seems the nightmare it did a few days ago.

Basically, it’s not $700 Billion immediately going into bad loans, but rather that is the maximum allowed to buy up defaulted loans on real estate. The government can buy these loans at pennies on the dollar and then resell the properties at a profit later on when the markets stabilize. What’s being created is a fund that will dole the cash on a need basis. And there will be oversight and protections added, which they are ironing out now.

The reason the markets crashed they way they did was partially due to the accounting practices the government foisted on banks after the S&L bailout of the 80s. But that bail out turned into profit for the government. Bailouts aren’t always losers. They often turn out favorable.This may too.

But it is scary and disturbing to be told that the whole system could collapse if nothing is done. And indeed, the credit markets are all but crashed. Without them, the economy we knew will be gone. The US spends on credit a great deal to operate.

I suspect this may be the solution, even though it’s an imperfect one. I prefer the Gingrich plan, but it looks like this one will be rammed through by Monday.

What do you think?