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POPSAnother Bailout – GMAC To Get More Money GMAC says they want to prepare itself to repay the U.S. Government. Is taking more tax payer funds a necessary step before repaying the Government? I don’t know what kind of math GMAC is using to come up with an idiotic statement like that, but if it is the same math they use to balance the books at their retail bank (Ally Bank) then I would run as fast as I could away from that one. The mortgage-related write-downs to be announced as early as this week will affect assets held by ResCap and Ally Bank, GMAC’s online bank. Ally Bank was created after the company received approval in late 2008 to convert to a bank holding company and qualify for government money under TARP. The arrangement left the Federal Reserve with regulatory authority over the parent. From the Ally Bank web site: Who we are We are Ally Bank, built on the foundation of GMAC Financial Services. And with that experience we’ve learned that these times demand change .....
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POPSTrillions Of Troubles Ahead Then there will be no way out but to create more debt in order to finance the old debt. It assures a period of economic devastation. In a last, desperate attempt, politicians at the federal and local levels will raise taxes to astronomical heights to raise revenues. And that only assures destruction of the economy. Forget the fable of economic recovery. Unless there is a change in Washington by next year's election, there will be no way to turn back.
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POPS Trial Lawyers Buy Democrats in Congress (98% of total "contributions"!)
Since Jan. 3, 2009, 581 contributions worth $1,261,023 have been made by donors identifying themselves as employees of the 15 firms (contributions by employees who did not identify their employer are not reflected in this data). Democratic candidates and committees received $1,241,978, or 98 percent of the total. The most generous of these lucrative sources of Democratic campaign cash was the Dallas-based Baron & Budd, best known for the late Fred Baron, who was finance chairman for former Sen. John Edwards' 2008 presidential run. Thus far in 2009, Baron & Budd employees have contributed $212,958 to 21 Democrats, and not a cent to Republicans. Second on the list is the New York-based Grant Eisenhofer firm, with employees contributing $184,078 to seven Democrats and no Republicans. Of the 138 total recipients from employees of all 15 of the firms, 122 were Democrats and just 16 were Republicans. The Democrats received contributions averaging more than $4,700,
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POPSHarder to Buy US Treasuries Shanghai Daily China's State Administration of Foreign Exchange reaffirmed this month that the dollar stands secure as the anchor of the currency reserves it manages, even as the country seeks to diversify its investments. In a discussion on the global role of the dollar, Zhu told an academic audience that it was inevitable that the dollar would continue to fall in value because Washington continued to issue more Treasuries to finance its deficit spending. He then addressed where demand for that debt would come from. "The United States cannot force foreign governments to increase their holdings of Treasuries," Zhu said, according to an audio recording of his remarks. "Double the holdings? It is definitely impossible." "The US current account deficit is falling as residents' savings increase, so its trade turnover is falling, which means the US is supplying fewer dollars to the rest of the world," he added. http://bit.ly/5fUxK0
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POPSBernard Madoff's Mexican Copper Mines In depth post discussing the striking similarities between the scandal involving Bernard Madoff's Ponzi scheme and Francisco d'Anconia's San Sebastian Copper Mines from Ayn Rand's "Atlas Shrugged". Article considers Madoff's actions in the context of how well they fit the fictional scenario written about by Madoff's friend Alan Greenspan's friend Ayn Rand, as depicted by the character of Francisco d'Anconio.
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POPSThe Bondage of Debt of our nation's history. No matter how much money Uncle Sam extracts for his coffers, however, it appears it's never enough. The demand for entitlements continues to grow and liberals in government are only too willing to accommodate that demand by expanding the power of the nanny state. Contemporary society has been taught that when it comes to the world of finance, credit is king. Credit, we are told, is how we finance the good life. When Gordon Gekko told us that greed was good, we apparently believed him, and set about to prove his point. As a nation, we've racked up nearly $12 trillion in debt and have seen the budget deficit soar from $455 billion to $1.4 trillion in the last year alone. And in the same way a strapped homeowner takes out a second mortgage on his house to stave off financial ruin for one more year, Congress has time and again"in the name of the people's "general welfare" no less"voted to take on more and more debt to fund a ballooning list of
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POPSMEN IN PINK PASTEL TONES ARE IN NOW. THERE ARE MEN WHO ARE NOT COMFORTABLE DRESSING THERE SONS IN PINK.
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POPSThe Obama Administration Defines Corrpution Though, he has no official capacity that I am aware of, he is one of the most influential leaders in the fascist movement. His book is referred to as "blueprint" for progressive victory. Each point in his book has been used to push fascist healthcare.
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POPSBaucus' Girlfriend Worked on His Divorce While on His Staff Are all men pigs...or just prominent politicians and sports heroes? (no!) But gosh, I'm so amazed by the blatant infidelity that is so rampant and people dare show their faces. It's so icky. At least Sanford's wife (while giving it time) has decided to divorce him. And Tiger is leaving golf to decide if his marriage is more important than his addiction. I still remember the Time Magazine cover of the 70s (I think). "What Ever Happened to Shame?"
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POPS2010 could be warmest year on record (1) Nobody talks about consciousnes change leading to a new way of understanding what wealth means beyond the very basics of survival. If everyone just did everything they could to assist in the grand project of helping to heal nature which (some) people have harmed so grievously, then there may be a chance. All real wealth is co-owned and co-created by all life and the planet for the mutual benefit of all the stakeholders, both human and non-human. What is required is no more (and no less) than to redefine the purpose of life.
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POPSMore Leaks – Copenhagen in Disarray ~ 12.8.2009 “circle of commitment” and have enraged delegates from developing countries. The US, UK, and Denmark are among the countries included in the so-called “Danish text.” The document also sets unequal limits on per capita carbon emissions for developed and developing countries in 2050; meaning that people in rich countries would be permitted to emit nearly twice as much under the proposals. The secret draft agreement worked on by a group of individuals known as “the circle of commitment” " understood to include the UK, US and Denmark - has only been shown to a handful of countries since it was finalised this week, The Guardian reports. The agreement, leaked to the paper, is a departure from the Kyoto protocol’s principle that rich nations, which have emitted the bulk of the CO2, should take on firm and binding commitments to reduce greenhouse gases, while poorer nations were not compelled to act. The draft hands effective control of climate change finance to .....
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POPSThe Something Awful/Paypal fiasco
More: I'm not going to tell people to close their Paypal accounts. I'm not going to say all their actions were completely unwarranted. I'm just presenting my experience with them and will allow you to draw your own conclusions. However, I harbor a fundamental disagreement with their business practice of assuming all their clients are filthy criminals who must repeatedly prove their innocence to a series of unmanned servers and computer systems. I do not support their ability to freeze entire accounts, take money from whoever they want at whatever time they want, and impose whatever arbitrary rules and regulations they deem necessary without having to answer to any organization. Every single cent in every single Paypal account is earning their company ungodly amounts of interest in their central bank account. They offer users credit cards and the chance to put your money into interest-generating accounts. So exactly why are they not under banking and FDIC rules again?
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POPSGreece downgraded over high debt Europe is falling. What will the order be: 1) Greece, 2) Ireland, 3) Italy, 4) Portugal, 5) UK, 6) Spain? What could Germany and France do then, but follow. What happens then is the $64 trillion question. Hyperinflation? More deflation? Nobody knows, but they will know soon. The knowledge is liable to be depressing for believers in eternal economic growth.
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POPSWill You Still Need Me, Will You Still Feed Me, When I’m Sixty-Four? …No! Democrats today voted to cut nearly half a trillion dollars from Medicare. The AP reported: Casting its first votes on revamping the nation’s health care system, the Senate rejected a Republican bid Thursday to stave off Medicare cuts and approved safeguards for coverage of mammograms and other preventive tests for women. The first round of votes ended with a fragile Democratic coalition hanging together. Senators voted 58-42 to reject an amendment by Sen. John McCain, R-Ariz., that would have stripped more than $400 billion in Medicare cuts from the nearly $1 trillion measure. It would have sent the entire 2,074-page bill back to the Senate Finance Committee for a redo. Republicans said the proposed cuts to health insurance plans and medical providers mean seniors in the popular Medicare Advantage program will lose benefits. And they predicted lawmakers will ultimately back away from the cuts, once seniors start feeling the brunt.
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POPSDubai World asks for debt ‘standstill’ I wonder how much Saudi Arabia has over built. Even by today's standards, $80 billion is a big number for virtually worthless property assets built on the assumption of an everlasting boom.
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POPSHassle free finance, No Worries Loans You can save and complete the documents, but it is necessary to immediately make money? Do not worry, no problem lending you the money here without all of its assets, and credit rating. It is easy to understand that the unsecured loans and grants of money, without any problem, it may
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