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POPSSTUPID NATION By Rich Lowry 
Stupid enough to think increased preventive care will save the government money, just because President Barack Obama constantly repeats it despite all the independent studies to the contrary. Stupid enough to believe that a program with no cost controls that can be discerned by the Congressional Budget Office will control costs. Stupid enough not to worry that Obama's proposed superteam of technocrats operating outside normal political controls " the so-called Independent Medicare Advisory Council " will resort to rationing when costs continue to spiral upward. Stupid enough to consider it wise to use several billion dollars in cuts from Medicare to create a new entitlement rather than to forestall Medicare's own looming insolvency, currently projected for 2017. Stupid enough not to notice that the "public option" was explicitly designed by the left as a stealthy path to single-payer, even as liberals continue to talk and write about its ultimate purpose openly.
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POPSBig Labor insolvent?
How badly have the unions handled the money? -------- Alarm is coming even from inside the AFL-CIO — specifically, from Tom Buffenbarger, president of the International Association of Machinists and Aerospace Workers, who sits on the AFL-CIO’s finance committee. Bloomberg News reports that he is circulating a report claiming the AFL-CIO engaged in “creative accounting” to conceal financial difficulties heading into last year’s Presidential election. As recently as 2000, the union consortium of 8.5 million members had a $45 million surplus. By June of last year it had $90.6 million in liabilities, or $2.3 million more than its $88.3 million in assets. “If we are not careful, insolvency may be right around the corner,” Mr. Buffenbarger warned. … ----------------- As for the SEIU, as recently as 2002 total SEIU liabilities were about $8 million. According to its 2008 disclosure form, the union owed more than $156 million, a 30% increase over the $120 million it owed in 2007. I
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POPSGet Quick Funds Through Same Day Loans Same day loans are spreading all over the world as fastest means of getting cash. The evolution of several new same day lending companies in the world financial market reflects the increasing popularity of same day loans among the borrowers.
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POPSMo Money This is one of many articles that mentions the lack of stringency in the tests and therefore the lack of significance of the findings.
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POPSChrysler Bankruptcy Hardball: The Shape Of Things To Come That's a political payoff pure and simple. The senior secured creditors (many of which represent retirement funds and savings plans) said no. The Obama administration then deployed the brass knuckles. As one blogger notes, Car Czar Rattner got downright Nixonian about the resistance to The One: Confronting the head of a non-TARP fund holding Chrysler debt and unwilling to release it for any sum less than that to which it was legally entitled without compelling cause, this country's "Car Czar" berated the manager of said fund with an outburst of prose substantially resembling this: Who the f*ck do you think you're dealing with? We'll have the IRS audit your fund. Every one of your employees. Your investors. Then we will have the Securities and Exchange Commission rip through your books looking for anything and everything and nothing we find to destroy you with.
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POPSEconomist: Geithner covering up bank insolvency The current economic collapse was brought about by a concerted effort to undermine and remove all regulations, allowing a creditor free-for-all that hinged on fraudulent risk ratings for bad loans. Banks used the concept of "really bad loans pay better". They adopted the Ponzi-scheme to grow rapidly and borrowed a lot of money making themselves rich but guaranteeing disaster down the road.
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POPSMy Country, 'Tisn't Free Now everyone can see The unregulated thievery That Bush did bring. Bankers were livin' big, AIG actin' like a pig, CEO was a real good gig That brought the bling. But now a page we've turned, Knowing that we've been burned By Wall Street crooks, We're for transparency And no more leniency For all that miscreancy That cooked the books. Can Obama save our butts From all the right-wing nuts Who sank our boat? Will stimulus billions make? The bankers cease the rake That plopped the cherry on their cake Which caused the bloat? It remains yet to be seen If we'll still have the means To pay the bill. Can we still school our kids And contract out no-bids? Or are we on the skids That lead downhill?
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POPSThis is not your father's country anymore The baby boomers are starting to retire and will consume an ever larger share of these entitlement programs. Social Security is a Ponzi scheme. Paying into it paid off current recipients. When it is our turn to retire there won't be enough money to cover us all, meaning we were funding a promise that could not be paid back. At the end of the day, we are going to have to settle for less. Less money, smaller houses, smaller cars and smaller dreams.
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POPS George Soros Finally Gets It ~ February 21, 2009 He seems to be in the camp that says if we can just “unclog” bank balance sheets then we’ll get credit “flowing again.” But the problem isn’t a lack of liquidity, it’s insolvency. A gangrenous leg can’t be “fixed” with blood transfusions. The only “solution” is amputation. A man will make himself believe most anything if his salary depends on it. Lots of salaries are at risk, so lots of heels are digging themselves in. Anyway, as I’ve argued for awhile, the only way to “solve” the crisis is to let asset prices fall. And that means the balance sheets on which those assets currently reside need to recognize substantial losses. Call it the “Fight Club” solution*—everyone goes back to $0. This would be highly painful for ALL Americans. But it would be most painful for those with the most to lose . . .
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POPSWhy Obama’s New Tarp Will Fail To Rescue The Banks Personally, I have little doubt that the second view is correct and, as the world economy deteriorates, will become ever more so. But this is not the heart of the matter. That is whether, in the presence of such uncertainty, it can be right to base policy on hoping for the best. The answer is clear: rational policymakers must assume the worst. If this proved pessimistic, they would end up with an over-capitalised financial system. If the optimistic choice turned out to be wrong, they would have zombie banks and a discredited government. This choice is surely a “no brainer”. The new plan seems to make sense if and only if the principal problem is illiquidity. Offering guarantees and buying some portion of the toxic assets, while limiting new capital injections to less than the $350bn left in the Tarp, cannot deal with the insolvency problem identified by informed observers.
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POPSToo Smart For The GOP "Because Republicans are isolated in that parallel universe and believe all the noise in its echo chamber, they are now as out of touch with reality. At least some media hands are chagrined. After the stimulus prevailed, Scarborough speculated on MSNBC that “perhaps we’ve overanalyzed it, we don’t know what we’re talking about.” But the Republicans are busy high-fiving themselves and celebrating “victory.” Even in defeat, they are still echoing the 24/7 cable mantra about the stimulus’s unpopularity. This G.O.P., a largely white Southern male party with talking points instead of ideas and talking heads instead of leaders, is not unlike those “zombie banks” that we’re being asked to bail out. It is in too much denial to acknowledge its own insolvency and toxic assets. Given the mess the country is in, it would be helpful to have an adult opposition that could pull its weight, but that’s not the hand America has been dealt."
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POPSThe New Old Thing Nor does this list exhaust Obama’s goals. He also wants to defeat our enemies and keep us safe, to retain the applause of the world, to raise taxes, to win reelection, to appoint liberal judges, and to strengthen our alliances. Conservatives should hope that he succeeds in some respects and fails in others.
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POPSDems Pave the Way for Massive Looting by Lawyers the potential awards would be huge. Most companies would feel compelled to settle such claims rather than endure the expense and difficulty of defending allegations about long-ago behavior. The recipe here is file a suit, get a payday. That’s fine with Democrats, who define “economic justice” as stealing wealth from those who create or earn it, to buy votes from those who don’t. There’s more: The Democratic majority is also resurrecting the concept of “comparable worth” with the Paycheck Fairness Act. Teachers do tend to earn less than truck drivers, despite more education. Then again, truck drivers work long, hard, often unpredictable hours. The market — not some secret patriarchy — places different values on different jobs. And in the case of teachers, the main salary setter is the government. Naturally Obama supports both bills, and Dems may now have the numbers they need to ram them past Republicans.
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