Arkansas Blog

Yippie Yi Yo!
Bought some Walgreen and Coca Cola today. Abbott Labs not at 52-week low, but still a great buy.

I picked a bad week to START sniffing glue................

Haven't we seen these "resurgent markets" before?

But I do hope you win durango. Defense contractors are always good. I don't see much
change coming in that department. Soon as the bubble bursts in ethanol then Tysons will
be a good speculator's buy.

Yes, taxpayer money to bail out a Congressional screwup. Nothing has changed except the amount of money.

strange,
The bailout for Iraq is down the drain. The billions of graft hsd gone into Iraqi coffers. And it will continue for several months at the rate of $Ten Bn per month. Yes, Congress is to blame for going along with a lying president and allowing them selves to be scared into supporting the biggest foreign policy mistake in decades. With due exceptions to Robert Byrd and Ted Kennedy.

Meanwhile here's a little reading on Congressional actions regarding Freddie. It's written by friend of the White House, Pete Yost of AP.

Seems the key Repub in the Senate killed Freddie Reform.

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Thanks for the link to the Austin American-Statesman story, eLwood.

Those scumbag lobbyists are gonna (Palinism) be the death of this country.

Wonderful... the government buying into banks. I can picture it now: I go to a bank to request a loan and the clerk asks for my voting history. "Did you vote for Barney Frank? No? Sorry, can't give you a penny."

Who is going to pay for this trillion dollar binge? If you soak the rich, they will move the money to avoid the taxes. Poor people don't create jobs. But hey, the middle class is a good corpse to bleed dry, right?

Dang, clicked by accident. I meant to add something from Mike Huckabee (once in a while I can agree with him.) Remember his comment during the first stimulus package? "Borring 100 billion from China to import more Chinese products." (I know... it's a paraphrase.)

We're in a recession, going in deeper, and Obama wants to tax the wealthiest and spend-spend-spend. That has been a failure every time it was done. Hoover did it. Roosevelt did it. Eisenhower did it. Johnson did it. Nixon was a disaster, but Carter was worse.

Reagan simplified the tax code, lowered the rates and tax income went up! but he teamed up with the Democratic-controlled House and sent-spent-spent. George Bush asked us to read his lips, but instead we had to bend over to take the new taxes.

Clinton had the best run, once he was teamed up with a Republican congress (his first two years were spend-spend-spend.) The spending spree was brought back under control for a while, taxes were reasonable, and with productivity gains from technology, times were generally good.

Bush II took office, went into Iraq, and the cronies took over the Republican Party. Spend-spend-spend. Earmarks that were unbelievable, the graft and corruption put the Democrats back in office. But they're spending too.

The rampant greed brought Wall Street... and Main Street... down. Helicopter Ben is printing dollars bills as fast as his Xerox machine can do so. And what is a dollar worth now?

Our economy lives on the charity of China and OPEC... who buy our Treasury notes. What happens when they refuse to buy more?

Sorry everybody, I'm in a bad mood. I own my own business... no, I'm not "Joe the Plumber" (grin.) I own blue-collar rental properties. But I had to cancel an expansion because the greedy bastards have frozen the world credit market. It was an excellent deal: an apartment complex that could be fixed up, rented reasonably, with a reasonable profit. I would have employed two plumbers, two electricians, a couple of painters. But there is no money to be loaned on investment real estate.

I don't see a way out. Both parties are out of control when it comes to deficit spending. A deficit can only go on for so long... and the higher the ratio of deficit to GDP, the sooner the crash.

How did Bush cause the economic mess that we are in today? How was he responsible for making loans to people who were not creditworthy? How was he responsible for the lack of regulations on Fannie and Freddie? Who had oversight responsibility for Fannie and Freddie? Please explain that to me.

When the Republicans were in power, did Bush threaten to veto a single spending bill, even though he complained of teh level of waste? Nope. Incredible budget deficits as a percentage of GDP.

Fannie and Freddie can be blamed on both sides. The Dimocrats pushed the Community Reinvestment Act (make loans available to inner city minorites.) Robert Rubin threatened punitive action if the banks didn't make loans (in other words, make them to unqualified inner city minorities or face legal action.) Bush's group figured out how to bugger the Germans, Chinese and others with the toxic waste.

Paulson scored half a billion while in Goldman Sachs buggering our neighbors with this toxic waste. Now he and Helicopter Ben came crying to the taxpayers to bail them out.