Friday, January 30, 2009

No One Knows What to Do Crazyness

I may of had a vision late last night or i just watch what everyone else does. Posted last night.

"Oh and next commentator that says "we have to so something"(free market?,Hover?) or "no one knows what to do"(Great Depression. S&L, 1990's Japan) well I will just yell at them. I would threaten they with me sending them some books but I am not going to waste the time."

Then to day via Gateway Pundit- 200 Top Economists Say "Stimulus" Bill Won't Work
People with "degrees and stuff"say about the same.

"With all due respect Mr. President, that is not true. Notwithstanding reports that all economists are now Keynesians and that we all support a big increase in the burden of government, we the undersigned do not believe that more government spending is a way to improve economic performance. More government spending by Hoover and Roosevelt did not pull the United States economy out of the Great Depression in the 1930s. More government spending did not solve Japan’s “lost decade” in the 1990s. As such, it is a triumph of hope over experience to believe that more government spending will help the U.S. today."
Congreesss? Oh Congreesss. It is possible that the fix for the economy is not crystal clear but what won't work is pretty freaking crystal clear. I am desperately hoping that the public support for this keeps crumbling. I also hope the friction from the newspeak of Pelosi saying thing like 'most Republican voters want this package too' causes her to burst into flames.

There is always the more entertaining take.
Overnight Open Thread. Now with more Stimulus Package

Mile Deep Lake of Dead Fish

I saw this interview and was reminded by Ace Of Spades

If we start calling out all the Red Herrings and Straw men we might get something done that makes some sense. Just stop shouting down or ranting on every time your asked a question. Just answer the question. I don't like floating on a raft of straw trying not to notice the mile deep lake of dead fish.

Speak Not of Any Thing Vaguely Resembling the Truth

Exactly how are the policies of the Bush administration at fault for the economic crisis?

Did he push to have more people in homes? Yes and so did every administration for at least the past twenty years.

Fannie and Freddy became the problem under Bush. Their existence is the problem and Congress people of all stripes are to blame for that mess. Frankly Dems blocked the reforms from coming out of committee. We all know that just because your in the minority doesn't mean you don't have any power Mr. Franks.

Deregulation caused all this. Was it deregulation or pitifully oversight, CONgress? The revolving door of supposed economic magicians that us little people just don't understand.

Greedy Wall street? Their job is to make money for the share holder. Share holders? US? Should some of them be in jail? Yes. Should we destroy any drive to make money? NO.

From Fox via Gateway Pundit
'"If there is somebody who is disgruntled, so be it. But we will have an overwhelming vote," House Speaker Nancy Pelosi said. She and more than a half-dozen other Democrats touted the bill and chided Republicans for pushing what they called the kind of failed policies that led to the economic crisis.'
I am waiting for Pelosi to break into song and dance at any moment. Gloating? You are, very unfortunately, one of the leaders of the free world and are acting this way? Let me know when she put her fingers in her ears, starts stomping her feet and humming to herself. Grow the hell up.

Children running the country we can save. The failed policies they seem to mean are the tax cuts. Pleeease explain to me what they have to do with the current crisis? How did the tax cuts lead to any of the problems that lead to this. They aren't the only reason for the deficit spending. If you say deficit spending then what the hell are we doing now? The truth. The government is at fault. Congress first and mainly Dems in my mind. We always get some spin from all side. However the collectivists in Washington are now about half a temper tantrum away Orwellian newspeak.

Oh and next commentator that says "we have to so something"(free market?,Hover?) or "no one knows what to do"(Great Depression. S&L, 1990's Japan) well I will just yell at them. I would threaten they with me sending them some books but I am not going to waste the time.

Wednesday, January 28, 2009

Socialist Jump Start

No detailed line for thinking, just some peices.
Be carefull these are the ones in charge.

The people are working to hard to notice?

WSJ A 40-Year Wish List:
"Another "stimulus" secret is that some $252 billion is for income-transfer payments -- that is, not investments that arguably help everyone, but cash or benefits to individuals for doing nothing at all. There's $81 billion for Medicaid, $36 billion for expanded unemployment benefits, $20 billion for food stamps, and $83 billion for the earned income credit for people who don't pay income tax. While some of that may be justified to help poorer Americans ride out the recession, they aren't job creators."
WSJ 'Atlas Shrugged': From Fiction to Fact in 52 Years

"Ultimately, "Atlas Shrugged" is a celebration of the entrepreneur, the risk taker and the cultivator of wealth through human intellect. Critics dismissed the novel as simple-minded, and even some of Rand's political admirers complained that she lacked compassion. Yet one pertinent warning resounds throughout the book: When profits and wealth and creativity are denigrated in society, they start to disappear -- leaving everyone the poorer."

Social engenering peice by bigger peice.

"The Democrats are being who they are. They're producing 32 new affirmative federal programs. That's part of what they do."

Nut and Bolts Problems

In all the confusion I am going to start reposting others that make good points and I mostly agree with with little comment. There is a tidal wave of horrible ideas veiled and not it will be difficult to keep up.

So, The problem with the stimulus package is not just a tax cut vs. spending issue. It is a very big grab bag and what is in it is very unclear.

Only on the stimulus:
Read the Stimulus


Obama Spins And Lies About So-Called "Stimulus" Plan
Republicans Take Tentative First Steps Towards Republicanism

Gateway Pundit
20 Points On the Democrat's $1.1 Trillion Drunken Spending Binge

links from the article:
10 Reasons to Whack Obama's Stimulus Plan
A 40-Year Wish List

Write Congress Person, Opinion on the Stimulus Package

I haven't written my congressman before but I had to last night. It gives me a good excuse to post again. There has been to much for me to try to boil down lately so i bailed on writing. The content of the email is as follows, cleaned up and some what more coherent. You try to keep it short if you want someone to read it.

The stimulus package at best will stop the economic slide in a few months and at worst is inadvertent(hopefully) long term social engineering. Fiscal conservative should vote no and hang this package that will fail around the necks of the left/collectivist wing of the Democratic party. Ask for an amendment affirming the goals and principles of a free market and a clear path for banks to buy back their stock. It should be along the lines of what Morris suggested late last week. Let them vote it down. Let them explain what their true beliefs are.

The individual welfare\tax credits\tax cut have been tried and are too small and two short term. We have tried it. The business cuts are just a gimmick. It is taking money that business will save in taxes in the future and gives it to them now. What does that do to the business two years from now. The infrastructure spending is far to little of the package and is I believe just short of useless. Any jobs that are created by this appear to be relatively short term. What happens to those workers when the work is done in the next 2-3 years?

My biggest concern is how long are the social service additions going to last? Will the extension of unemployment insurance and other social program increases be permanent and if so what does this do with concern to increasing dependence on government? Is this a veil attempted to engineer a larger welfare state? A more collectivist/socialist society?

My preference would be for a monetary fix. Revert the mark to market and up tick rules to that of two years ago, make clear that a strong dollar is imperative and the top priority, stabilize the tax rates for at least the next 2 years(the uncertainty is killing us), cut cooperate and capital gains taxes to leverage off shore money coming in to the US, put in place clear path for stock buy back from the government, enforce the rule on the books( call the credit default swaps what they are insurance) and buy up or trade stock for the toxic assets they are still gumming up the works. Japan 1990? FDR? Does history mean nothing?