1500 Dow points (plus or minus 1000) to go until Kaaaaa-BOOOOOOON!!!!!!
Talk about "the shot heard round the world".
Of course, the market could rally and save our skins... but if we see a DOW under 6,000 my bet is on massive defaults on a number of pensions, and then a bailout of the Pension Benefit Guaranteee Corp. of the U.S. Government.
Does anybody really think that taxpayers that do not have pensions will accept a taxpayer funded bailout of those that do? That the have-nots will willing fund the halves? Unfortunately, yes. They are called Democrats. I can just see Obama calling out the national guard now...
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The Stimulus Plan being signed into law today is anything but. What it really is is 8 years of Demcratic frustration at being denied their place at the trough, and now they are getting theirs. Being the Obsessive/Complusive that I am... I read the document. Somebdy correct me if I am wrong, but counted $135 BILLION in new social programs that will need continued funding, and $280 BILLION in increased spending in existing social programs! How the F%$&! is that stimulus?
So much for "Change We Need".
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The California Time Bomb detonated today.
The legacy of a generation of silly social and fiscal policy has overtaken the "Golden State". All of the gyrations of California's state government is just a posturing circle jerk. California will need a MASSIVE federal bailout. So, for all you tax payers in states that DID NOT have all of the "fun, fun, fun until her daddy takes the T-Bird away"... TFB, because here comes the bill.
Mentatt (at) yahoo (d0t) com
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7 comments:
They are trying to give the money to people who are likely to spend it. Welfare bums fit the bill nicely although they are likely to spend a significant portion of it on bads, but I digress.
Hi Dan,
Congressional leadership is now firmly in control of DSA. They don't care too much about the Recession/Depression, except as a tool to further their social goals. Please read http://www.dsausa.org/about/where.html. Members of the Congressional Progressive Caucus are also members of the DSA. Their websites used to be cross-linked and they were once proud to proclaim their affiliation. But, since the Democrats have take control of Congress, both sites have been "sanitized." There is now not a single reference in either site from one to the other. Also note that the President and Nancy Pelosi are former members of the DSA.
Reading the DSA's "Where We Stand" is enlightening and provides a background to what this bill ( and all subsequent legislation ) is all about. They will take every opportunity to press their agenda:
*Government control of all industry
*Government control of all credit
*Government control of all natural resources
*Single party Socialist government for the U. S.
*The U. S. subservient to a worldwide socialist government
*Equal distribution of all resources across the globe.
They are Communists in the worst sense of the word. Their politics are not consistent with their oath of office. I don't think they give a rat's @$$ about stimulus, except as necessary to achieve re-election. In their world, we are far too rich already, and this collapse serves their egalitarian goals.
Regards,
Coal Guy
The website for the CPC is:
http://cpc.grijalva.house.gov/
Coal Guy:
Thanks for this.
As a good government bureaucrat, I know that it is usually a good thing to define acronymns. What the hell is a "DSA"? Or maybe you just shouldn't tell me. :)
thanks for the information....
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Sharon
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