Excellent discussion of the growing cost of funding our national debt (Treasury yields spiking this year), and the complicated task of selling that debt overseas, specifically to China. Spitzer says the solution is rebuilding the U.S. domestic manufacturing economy, not to reinflate the debt bubble. The Bush-Obama administration has elected the hazardous and imbecilic re-inflation option. A Ship of Fools.
It's from July 21, and I have already covered the adult exchange between Bernanke and Dr. Paul, which took place an hour later in the testimony.
This is 3 minutes of straight truth on debt. It's Ron Paul's opening statement while Bernanke sits and listens. The photo grab of Bernanke was taken a few seconds before Paul began his harangue. He is not smiling for a reason. He knows what's coming. I enjoy the interplay between these 2 actors more than any other players on the so-far 18 month bailout production from hell.
Editor's note: pay attention in the first 5 seconds when Barney Frank announces that there are only 3 minutes left for the Republican side. You can clearly hear Paul snort and make a sarcastic comment to Frank.
This one is a must see and share. Watch
This was the 2nd televised appearance for former Treasury-Goldman acolyte Neel Kashkari. The first was on Charlie Rose and we have that clip here. Sounds like NK was head of human resources at Treasury, though he squarely was drunk on the kool-aid. I withdraw my comments where I absolved him of wrath. The rest of you were correct. I was wrong. He's part-captured, part smooth Sachs. He will replace Blankfein when he's done. I can feel it. Or run for president.
Harvard Professor and Head of the Congressional Oversight Panel for TARP, Dr. Elizabeth Warren explains why America needs a Consumer Financial Protection Agency, CFPA. (July 16, 2009, Cambridge, Massachusetts)
I'm no big fan of CIT Group and their shoddy loan portfolio. But Buffett's comments are helpful to understanding the inherent injustice of rewarding failed banks. Excellent commentary on the FDIC-backed debt that is so prevalent with the too-big-to-fail crowd. Hard not to make a bundle with 1% money.
And I can relate. The fixed pupils, sweaty upper lip. Constant mode of explanation. These are symptoms of too much information with nowhere to successfully release it because the anchors around you are imbeciles. When you're at this stage, talking to people who don't grasp the impetus of your words doesn't help. You need a beach, a drink and some sleep. Good clip from Morning Joe. Too big to fail is generational rape. F you Scarborough.
National Survey of 1,000 Adults
Conducted July 27-28, 2009
By Rasmussen Reports
1* A proposal has been made to audit the Federal Reserve and make the results available to the public. Do you favor or oppose auditing the Federal Reserve?
75% Favor
9% Oppose
15% Not sure
Note: Margin of Sampling Error, +/- 3 percentage points with a 95% level of confidence
With 5 clicks you can send this survey result to your Senator. I have everything you need to do so inside.
Niall Ferguson and Rachel Maddow on Real Time Friday night with Bill Maher. After the 9/11 Truthers were kicked out of the audience they returned to discussing the economy. Maher brought up Ron Paul and HR 1207, as well as Eliot Spitzer's recent comments that the Federal Reserve is a Ponzi scheme.
Ferguson immediately sprang to Bernanke's defense and somehow overlooked the abysmal failure of the Fed's regulatory oversight. You don't give the pilot another jet to fly after he just had the most horrendous crash in the history of the world.
And as I've written before, none of us will be well-served with Congress involved in monetary policy. I don't agree with that portion of the bill and can only imagine it was included in order to be dropped later as a part of negotiations. It's a pretty decent discussion.
Did any of you see this? Six 9/11 truthers (those who believe the CIA engineered the attacks), interrupted the live broadcast of HBO's Real Time Friday night, shouting loudly and repeatedly from the audience. Bill gets appropriately pissed and goes into the crowd to toss the first 2 rabble rousers, but the disruptions don't stop as 4 more protesters weigh in.
Former President Bill Clinton on September 24th of 2008, in the heart of the crisis with Harry Smith. Slick Willy actually impresses me somewhat in this clip. He discusses fractional reserve lending and the importance of confidence. He still proves to be a captured bailout Socialist like so many others but he seems to be slightly more informed than Palin, Bush, McCain and Obama.
I'm pretty sure her answer is in English, though it's difficult to know for sure without a translation from Shatner.
Seriously for a moment, Sarah Palin is an acute, national embarrassment, like a troublesome rash that won't respond to treatment. This interview was conducted on September 24th of 2008, at the apex of the financial crisis, a time when we needed intelligence and insight from our leaders. If Palin proves anything at all in this clip, it's that we really need to have a requisite IQ minimum for politicians.
Any remaining supporters of Caribou Barbie, please take an honest look and listen to Palin's response. She's so dense she makes George Bush sound like a Rhodes Scholar. I would honestly rate her intelligence about equal to that of Bernanke's replacement from Happy Hour In Santa Cruz. She remembers the talking points, but has no idea what they mean. May the heavens protect the United States if she ever gains national office.
And one last thing, Palin shows quickly that she's a bailout Socialist, no different than Bush, Obama and McCain. It's quite obvious she doesn't even have the most basic understanding of finance, or any of the other concepts she attempts to discuss.
U.S. voters should be enraged at McCain for allowing such an imbecile to get so close to the White House. Have we no shame, have we no more decency?
And if one more person says she's cute and spunky, I'm going to grab an IED and blow up your brain.
Aug 5, 2009 at 4:42 PM
