The news today is the American People put the car in R and returned the keys to US House of Representatives to the Republicans and their T-Party appendages. The same people who put the economy in the deep deep ditch under the direction of George W Bush.
"R" is a metaphor and has nothing in common with direction however, they're driving again.
New House Majority Leader John Boehner in concert with Senate Minority Leader Mitch Mc Connell declined the offer of the Obama's Slurppy in favor of the House Merlot.
Whine is now being served to ranking Republicans and Freshmen. We all know, nobody knows whine like John and Mitch. We're all hopeful their driving skills have improved and direction is clear.
I don't know about you but I'm a bit tired of hearing about Obama Care. My fear is they will waste as much time to repeal it as it took to conceive same. If only we could somehow trick them into fixing the economy, install a strong middle class, punish the banksters in court and control our borders. Then deport the criminal illegal free ranging aliens, all for a good start.
The Senate will remain in D allowing the Democrats to keep the key's to the Senate. It's unclear what the Democrats are drinking but, its clearly not slurppy.
Meanwhile Big Ben Bernanke at the Federal Reserve announced his plan to purchase 600 billion in Treasury Bonds. 75 billion a month until the economy responds positively.. Similar to beating the crew until the moral improves analogy. Ben doesn't have any money and China is tapped out so he'll fire up Merlin's Magic Money Machine and ask former Patriots for help. Benjamin Franklin and Ulysses S Grant will allow their likeness to print some more American debt. None of the money will be used for the COLA or other public good.
The zero percent interest at the discount window since 2008 was not enough to stimulate the economy. Lower interest at the discount window means the Dirty Dozen Banksters can loan out money cheaper. The problem evidently is nobody wants the cheap money because the middle class is tapped out and barely hanging on to the homes they should have never bought and now stuck with.
The 600 billion Bond purchase is in addition to the 1.7 trillion dollar toxic asset purchases that were designed to make the Banksters look really smart. It's all about faith in the realm of Hi-Finance. Understandably faith is in very short supply in America today.
I'm not sure how this all is supposed to work but I think it's like buying a house. First you buy a house that you can't afford. so you apply and receive a second mortgage to make a bridge loan on the payments until you can sell the house for a profit. Then you take the profits from your sale and double down buying two houses you can't afford and another bridge loan to make payments until you sell. After all your good for the note huh. To offset your costs you rent one house for less than the mortgage payments. The reason you rent and loose money is because the property is vastly overpriced and there isn't a market for houses in this price range.
The beauty of this system is each time an insolvent loan is granted the Banksters, Real Estate Agents, Appraises attach fees and taxes all increase accordingly. This makes more discretionary income to invest back into the market. Presumably the system works well as long as China doesn't run out of money to loan us. Heaven forbid China runs out of money cause they got Nuclear Weapons.
The Pharaoh's of Greed Street are in favor as this means more money for the New York Casino. Printing more money insures inflation and even though stock values won't increase the stock costs are sure to rise. This means more bonus from their genius as the market soars from inflation.The same tactics as the Obama Stimulus and Bush TARP that drove the Dow Jones from 6,600 to over 11,000 in 18 months. Even though their bonus money is theoretically worth less due to inflation. Some bonus is better than no bonus on the Dow Jones Treadmill of Fortune...
The election over, the winners are all flaunting their mandates of representing the people. Most of them are delusional about their win. They're for a very short time the best of the worst in American politics.
Our President Obama wasted no time to offer empathy/sympathy for those who made the "Tough Choices" and lost their seat at the public trough. The "Tough Choices no doubt were casting yes votes for Obama Care and Financial Reform Act that the majority of Americans were firmly against. Life is tuff at the public trough!
When we elect people to office to represent the people as our proxy. We don't expect them to vote against the will of the people. Obama Care and Financial Reform Acts are like a pre-arranged marriage.
The hope is one day we will embrace the needs of the politicians. The longer bad legislation is allowed to be law the more it is accepted. Not because it's better or working but, rather as people die through attrition's new taxpayers just don't know better and legislation like Social Security becomes accepted.
I'm not against Social Security, Medicare Medicaid or Health Care. Like most people I abhor the way they're administered. The system that places the government and employer between the consumer and his purchases cause for runaway imaginary costs. Free is always implied because the citizen never sees how much money is transferred. I don't need it and I don't want it thank you very much.
The path we have chosen rewards only a few as the imaginary bar of prosperity is raised. Every time profits are increased more people fall beneath the prosperity bar. The trick is to convince the American people they're poor because they haven't the right education and therefore they're poverty is deserved and self-imposed.
We Americans are just not as smart as the Chinese worker?
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