I just finished watching Frontline. George W. funds a war - a national crisis - by lowering taxes. (Yet another reason he'll be remembered as the worst U.S. president ever.)
Surpluses turn into deficits turn into massive debt. W. promises subsidized prescription drugs (Medicare D) to seniors. Nice idea. We can't afford this, nor can we, the taxpayers, afford many other promises made by most Western governments.
Be scared of unfunded liabilities. Be scared of national debt: iousathemovie.com.
Laugh at Chimpanzies washing cat.
Tuesday, March 24, 2009
Friday, March 20, 2009
GM Loses $9.6 Billion
GM lost $9.6 billion in the 4th quarter 2008. That’s $3.2 billion a month. If you break that down into a 20-day work month at 8 hours a day, it totals about $5,555 per second.
Look at your watch and count with me: $5,555, $11,110, $16,665, $22,220, $27,775, $33,330, $38,885, $44,440…..keep going for the rest of the day. You’ll end up with a total of $160,000,000 after your eight-hour shift. And it’s all your money. Feel better? Me neither.
Look at your watch and count with me: $5,555, $11,110, $16,665, $22,220, $27,775, $33,330, $38,885, $44,440…..keep going for the rest of the day. You’ll end up with a total of $160,000,000 after your eight-hour shift. And it’s all your money. Feel better? Me neither.
Wednesday, March 18, 2009
Jon Stewart: Fox News and the Dirty Sanchez
In 8 minutes, Jon Stewart demonstrates clusterfuckery in action.
AIG testimony, Gabagool, Fox News, Glen Beck cries. Rome is falling.
"John Stewart looks at how Fox News is fueling populist outrage at the government's attempts to rescue the economy. Fox’s Griff Jenkins reported on “tea parties” to protest the stimulus package. “They are going to try to send tea bags to D.C., D.C. — tea-bag the white house,” explained Jenkins. Stewart found a raunchy double meaning in Jenkins’ words."
AIG testimony, Gabagool, Fox News, Glen Beck cries. Rome is falling.
"John Stewart looks at how Fox News is fueling populist outrage at the government's attempts to rescue the economy. Fox’s Griff Jenkins reported on “tea parties” to protest the stimulus package. “They are going to try to send tea bags to D.C., D.C. — tea-bag the white house,” explained Jenkins. Stewart found a raunchy double meaning in Jenkins’ words."
The Pope: Doesn't like condoms, but pedophiles are ok
This Pope is out of touch, gives poor advice, and has protected felonious criminals in the past. Can we stop taking him seriously yet?
Joseph Alois Ratzinger, better known as Pope Benedict XVI, is the Catholic church’s 265th Pope. He is currently touring Africa explaining to the Aids ravished continent why "condoms increase the problem". (This, by the way, is a much more humane approach than archbishop Maputo Archbishop Francisco Chimoio took in 2007 when he claimed, and preached to his flocks, that condoms are purposely contaminated with the aids virus.) This tour follows the wildly successful "lifting of the excommunication" of holocaust denier Bishop Richard Williamson.
I've wanted to write something about the topic of the Pope's character and credibility after watching the excellent documentary, Deliver Us From Evil a while back. (Synopsis: Moving from one parish to another in Northern California during the 1970s, Father Oliver O'Grady quickly won each congregation's trust and respect. Unbeknownst to them, O'Grady was a dangerously active pedophile that Church hierarchy, aware of his predilection, had harbored for over 30 years, allowing him to abuse countless children. Juxtaposing an extended, deeply unsettling interview with O'Grady himself with the tragic stories of his victims, filmmaker Amy Berg bravely exposes the deep corruption of the Catholic Church and the troubled mind of the man they sheltered.)
Cardinal Ratzinger, while serving as Prefect of the Congregation for the Doctrine of the Faith, sent a letter in 2001 to all Catholic Bishops ordering them to keep all child sexual abuse investigations secret threatening excommunication for the victims, victims’ families, as well as priests and other church officials. Power and control was obviously more important than truth and morality for this future Pope.
This was an obstruction of justice. Enough so that the Vatican requested immuinty for the Pope from President George W. Bush in 2005. Immunity was granted. If Joseph Ratzinger were in business or government, he would almost certainly be in jail now. (Well, assuming we could find a jury of peers. For the Pope.)
So, while this man tours Africa spewing his archaic 15th century ideas and ideals, and you try to interpret the deep meaning of his words and thoughts, keep in mind he's protected thousands of child molesters and rapists from prosecution over the years.
I would argue he's not a moral leader.
Joseph Alois Ratzinger, better known as Pope Benedict XVI, is the Catholic church’s 265th Pope. He is currently touring Africa explaining to the Aids ravished continent why "condoms increase the problem". (This, by the way, is a much more humane approach than archbishop Maputo Archbishop Francisco Chimoio took in 2007 when he claimed, and preached to his flocks, that condoms are purposely contaminated with the aids virus.) This tour follows the wildly successful "lifting of the excommunication" of holocaust denier Bishop Richard Williamson.
I've wanted to write something about the topic of the Pope's character and credibility after watching the excellent documentary, Deliver Us From Evil a while back. (Synopsis: Moving from one parish to another in Northern California during the 1970s, Father Oliver O'Grady quickly won each congregation's trust and respect. Unbeknownst to them, O'Grady was a dangerously active pedophile that Church hierarchy, aware of his predilection, had harbored for over 30 years, allowing him to abuse countless children. Juxtaposing an extended, deeply unsettling interview with O'Grady himself with the tragic stories of his victims, filmmaker Amy Berg bravely exposes the deep corruption of the Catholic Church and the troubled mind of the man they sheltered.)
Cardinal Ratzinger, while serving as Prefect of the Congregation for the Doctrine of the Faith, sent a letter in 2001 to all Catholic Bishops ordering them to keep all child sexual abuse investigations secret threatening excommunication for the victims, victims’ families, as well as priests and other church officials. Power and control was obviously more important than truth and morality for this future Pope.
This was an obstruction of justice. Enough so that the Vatican requested immuinty for the Pope from President George W. Bush in 2005. Immunity was granted. If Joseph Ratzinger were in business or government, he would almost certainly be in jail now. (Well, assuming we could find a jury of peers. For the Pope.)
So, while this man tours Africa spewing his archaic 15th century ideas and ideals, and you try to interpret the deep meaning of his words and thoughts, keep in mind he's protected thousands of child molesters and rapists from prosecution over the years.
I would argue he's not a moral leader.
Gary Goodyear: Do You Believe in Gravity?
In a March 17, 2009 Globe and Mail article, recently appointed Canadian Minister of Science and Technology answered, when asked if he believed in evolution: “I'm not going to answer that question. I am a Christian, and I don't think anybody asking a question about my religion is appropriate.”
The theory of evolution is not a religious question. Nor are the theories of gravity (gravitational theory) or atoms (atomic theory). These scientific theories are backed by facts - lots of facts - and are only disputed by non-scientists without the qualifications to dispute them.
Now, gravity doesn't really work within quantum mechanics, but if it's me and a cliff; I'll put my money on gravity every time. Atoms? Shall we reintroduce Earth, Water, Air, Fire, and Aether? Let's not!
If the question were re-worded to "do you believe in gravity" and the Minister answered: “I'm not going to answer that question. I am a Christian, and I don't think anybody asking a question about my religion is appropriate" this controversy wouldn't exist. He would have been turfed the next day.
Mr. Goodyear is not qualified to be the Minister of Science and Technology. He should resign or be fired.
The theory of evolution is not a religious question. Nor are the theories of gravity (gravitational theory) or atoms (atomic theory). These scientific theories are backed by facts - lots of facts - and are only disputed by non-scientists without the qualifications to dispute them.
Now, gravity doesn't really work within quantum mechanics, but if it's me and a cliff; I'll put my money on gravity every time. Atoms? Shall we reintroduce Earth, Water, Air, Fire, and Aether? Let's not!
If the question were re-worded to "do you believe in gravity" and the Minister answered: “I'm not going to answer that question. I am a Christian, and I don't think anybody asking a question about my religion is appropriate" this controversy wouldn't exist. He would have been turfed the next day.
Mr. Goodyear is not qualified to be the Minister of Science and Technology. He should resign or be fired.
Monday, March 16, 2009
Chrysler May Require More Cash!!!
Associated Press reports that Chrysler may need more government bailouts by July.
Even if Chrysler LLC gets additional government loans, it could face another cash shortage in July when revenue dries up as the company shuts down its factories for two weeks to change from one model year to the next, its chief financial officer said.
Please see my other blog for why this will never end.
Even if Chrysler LLC gets additional government loans, it could face another cash shortage in July when revenue dries up as the company shuts down its factories for two weeks to change from one model year to the next, its chief financial officer said.
Please see my other blog for why this will never end.
Wednesday, March 11, 2009
Monday, March 9, 2009
Canadian Real Estate (bust)
I saw this Canadian real estate story in McLeans today:
....because despite the carnage in Vancouver, many economists and real estate groups are still predicting that we’ll have just a little stumble—maybe a drop of three to eight per cent in prices—and then the market will roar back to life by the end of the year. But new data on the plunging housing market suggests that those relatively upbeat assessments are wrong, and Canada could see a 20 per cent drop in average house prices between now and late 2011. If sophisticated investors are correct, it might be close to a decade before we once again see prices as high as they were last summer.
About a year ago, Simon Côté, managing director of property derivatives at National Bank, had a bright idea. He noticed that the market let investors bet their money on oil futures, bond futures, even canola futures, but there wasn’t a way to bet on the future prices of Canadian houses. So he decided to launch a whole new market, one that, among other things, would allow investors who think they know where the housing market is going to put money on it.
When the Teranet market started up in December, it immediately predicted a shocking drop of 20 per cent, followed by an excruciatingly slow recovery that might not see prices return to last year’s high for seven years, or longer.
Here's my addition: Regional markets are different than national aggregate numbers (ave. through out the county or region) ....but....primary residents are not investments!
Fuck! Your kitchen is not your retirement! We'll come up with better kitchens! There's always something better
....because despite the carnage in Vancouver, many economists and real estate groups are still predicting that we’ll have just a little stumble—maybe a drop of three to eight per cent in prices—and then the market will roar back to life by the end of the year. But new data on the plunging housing market suggests that those relatively upbeat assessments are wrong, and Canada could see a 20 per cent drop in average house prices between now and late 2011. If sophisticated investors are correct, it might be close to a decade before we once again see prices as high as they were last summer.
About a year ago, Simon Côté, managing director of property derivatives at National Bank, had a bright idea. He noticed that the market let investors bet their money on oil futures, bond futures, even canola futures, but there wasn’t a way to bet on the future prices of Canadian houses. So he decided to launch a whole new market, one that, among other things, would allow investors who think they know where the housing market is going to put money on it.
When the Teranet market started up in December, it immediately predicted a shocking drop of 20 per cent, followed by an excruciatingly slow recovery that might not see prices return to last year’s high for seven years, or longer.
Here's my addition: Regional markets are different than national aggregate numbers (ave. through out the county or region) ....but....primary residents are not investments!
Fuck! Your kitchen is not your retirement! We'll come up with better kitchens! There's always something better
New Nationalized City Bank
A funny little spoof on how government mismanages things. Ha! Except. WTF. Who's bailing whom out now? Do the banks need a 5-year plan? Gosplan? Okay....fuck it - it is a funny video.
Sunday, March 1, 2009
GM Pension Fund
Another $32 billion goes missing from the black hole known as GM.
"Details are emerging about how General Motors Corp.'s U.S. pension funds went from a $20-billion surplus at the end of 2007 to a $12.4-billion deficit 12 months later.
Newly released numbers show that the funds, which help support more than 650,000 Americans, were tapped for billions of dollars over the past year for employee buyout programs, benefit increases and as part of the UAW's retiree health care trust deal."
"Details are emerging about how General Motors Corp.'s U.S. pension funds went from a $20-billion surplus at the end of 2007 to a $12.4-billion deficit 12 months later.
Newly released numbers show that the funds, which help support more than 650,000 Americans, were tapped for billions of dollars over the past year for employee buyout programs, benefit increases and as part of the UAW's retiree health care trust deal."
Chrysler is Worth Nothing
Throwing money at this company is a waste of time and money. “Loan” is really a political term. As taxpayers, we are at the back of the line. Everyone else (bondholders, union pensions, stock holders) will get paid first. These “loans’ are gifts to a failed industry. The company died years ago, but nobody bothered to report it. Here are some facts:
Dailmer currently values the company at nothing
In 2008, Dailmer revalued their 19.9% share in the company at – wait for it - $0.
http://thearticlewriter.com/autowriter/to-daimler-chrysler-is-utterly-worthless/
Cerberus Values the company at $0
This is the first paragraph on the Cerberus site describing what they do: (the company that owns Chrysler): Cerberus Capital Management, L.P. is one of the world's leading private investment firms. Cerberus specializes in providing both financial resources and operational expertise to help transform undervalued companies into industry leaders for long-term success and value creation.
http://www.cerberuscapital.com/about_comp_prof.html
And how are they investing this failing company to make it an industry leader? They are sending representatives to the government to beg for handouts. As a business, this company has no value. If it did, Cerberus would be investing the company.
Opinion
My opinion? I believe “Jeep” is a brand that will survive bankruptcy and could have a long, prosperous life within a sustainable company. Other than that, this company has failed and needs to be terminated.
Chrysler is worth nothing and needs to go bankrupt ASAP! Every dollar we throw at them is money that could be spent on health care, retraining, or not spent at all. Please contact your local congressman, senator, MLA, or MP and say NO!
Dailmer currently values the company at nothing
In 2008, Dailmer revalued their 19.9% share in the company at – wait for it - $0.
http://thearticlewriter.com/autowriter/to-daimler-chrysler-is-utterly-worthless/
Cerberus Values the company at $0
This is the first paragraph on the Cerberus site describing what they do: (the company that owns Chrysler): Cerberus Capital Management, L.P. is one of the world's leading private investment firms. Cerberus specializes in providing both financial resources and operational expertise to help transform undervalued companies into industry leaders for long-term success and value creation.
http://www.cerberuscapital.com/about_comp_prof.html
And how are they investing this failing company to make it an industry leader? They are sending representatives to the government to beg for handouts. As a business, this company has no value. If it did, Cerberus would be investing the company.
Opinion
My opinion? I believe “Jeep” is a brand that will survive bankruptcy and could have a long, prosperous life within a sustainable company. Other than that, this company has failed and needs to be terminated.
Chrysler is worth nothing and needs to go bankrupt ASAP! Every dollar we throw at them is money that could be spent on health care, retraining, or not spent at all. Please contact your local congressman, senator, MLA, or MP and say NO!
Subscribe to:
Posts (Atom)
