There are so many issues on which to comment that I can’t keep up. Each one deserves at least a book, as an antidote to all of the nonsense clogging up the airwaves, cable, the Internet and the dead tree media.
Note: I have a special video treat for everyone staying to the end of this post.
The latest cant is that Obama is trying to push too many policy areas at once. BS. While it may be an overload for me, the President has an entire government at his command.
If, as most agree, the economy is the direst, most immediate threat, should he tell Secretary Sebelius to order everyone at HHS to sit on their hands? Should Secretary Gates give all of our armed forces a year or two of leave?
When are the grownups going to displace the Congressmen, commentators, consultants and the other kids running all over the media? When will we be able to find rational discourse on the ‘news’ shows. The Daily Show can’t cover it all.
Anyhow, here are a few comments on the various issues. First, I am getting tired of those referring to Geithner as Doogie Howser. It would be more accurate to compare him to the 13-year old kid who spoke at the CPAConference. Actually, the kid was the more articulate of the two.
Geithner thinks of the banking problem as one of liquidity. It really is one of solvency. The Kid’s inability to comprehend the problem is reinforced by Larry Summers and Little Ben Bernanke. Three blind mice. If you don’t understand what the problem is, it puts you at a disadvantage in trying to resolve it.
It’s perfectly acceptable for several wealthy people to get together to enforce their wills on employees. It heralds the end of civilization as we know it for several employees to get together as a counter-balance. By the same token, members of an industry are exercising their democratic rights by banding together to buy politicians, while employees are waging class warfare when they attempt to redress the imbalance.
The business community has been so successful in brainwashing everyone that even Warren Buffet is parroting the falsehood that the card checkoff legislation would eliminate secret balloting. I never realized how protective those businessmen were of the democratic rights of their employees. A position dependent entirely on lies must be kinda weak.
Speaking of liars, Rush Limbaugh is still loose. Either he wants Obama to fail or he wants Obama’s policies to fail. Where’s the distinction? For either to fail means the economy gets worse. Rush being proven right is more important than the health of the nation, the travails of millions of Americans losing their jobs, their homes, their health, indeed, their lives. Wow! His ego is even larger than mine.
People are either buying used cars or not buying cars at all. All auto manufacturers are experiencing devastating reductions in sales. Even Toyota is receiving a bailout from the Japanese government. Every new car not being purchased adds to the pent up demand.
When the economy recovers, how many of you want our country to be sitting on the sidelines, without our own auto makers? Japan is ensuring they will be in the game. Also, how many new jobs would have to be created to make up for all of those that would be lost by killing them off?
They think they have discovered a slight pulse at CitiBank. No such luck with Bank of America. Let’s nationalize BofA. We don’t even have to change the letterhead. We might also nationalize a couple of smaller zombie banks to get full national coverage. For all of the rest, let’s see how devoted these free market cultists really are. Those that live, live. Those investors that lose, get the opportunity to showcase their true commitment. The FDIC will protect the depositors.
If one uses the P/E ratios that obtained during most of modern times, the Dow should be a bit north of 3,000. At that level you may have some risk but you can call yourself an investor. If you want to play above that level history cannot be your guide. You might try a Ouija board instead.
Our car makers spend more on health than steel. They cannot compete with such a burden to bear. Other American companies are similarly hobbled. Employees are slaves to a particular company if their healthcare coverage is tied to their job. Electronic records will save some costs but not enough. Other tinkerings with the system will see marginal savings. The only rational system is one based on a single-payer, e.g., Medicare For All.
The savings to be realized by a single-payer system can go a long way towards addressing the present long-term crisis of Medicare, ultimately our biggest financial problem as it presently stands. No other system makes a noticeable dent.
Why is it considered pro-life to throw away stem cells, rather than use them to enhance life?
Doesn’t anyone with access to the media own a dictionary? The Democrats are almost as bad as the Regressives in using words they cannot correctly define.
Rachel Maddow pointed out that Tennessee’s own Senator Coker is demanding that the federal government reduce American autoworkers’ pay. Is that a measure of his ideological purity? He may be vying for Clown of the Year with our Congressman Zack Wamp, who claimed that healthcare is a priveledge. Do you feel pity for our plight here in the Volunteer State?
Do you believe that Wall Street is a regulated, fair casino in which to entrust your retirement or your children’s education funds? I have always claimed otherwise. If you don’t believe me, perhaps you will listen to CNBC’s mouth, Jim Cramer. The video is an interview from 2006. I’m surprised that Jon Stewart hasn’t used it yet.
If you have any friends in the market, do them a favor. Point them to this little primer.
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