Read more here: http://www.freerepublic.com/focus/f-news/2194795/posts
Thursday, February 26, 2009
Wednesday, February 25, 2009
Tuesday, February 24, 2009
Thursday, February 19, 2009
Wednesday, February 18, 2009
Porkulus has $787 billion dollar bills which weighs 27,760,608,015 ounces.
16 oz. to the pound means Porkulus weighs 1,735,083,001 lbs.
1 ton equals 2000 lbs, and Porkulus weights 867,519 tons.
The maximum take-off weight of 0bama's Air Force One is 833,000 lbs. which means Porkulus weighs 2083 times greater than fully loaded Air Force One.
There's no question the American consumer is hurting in the face of a burst housing bubble, financial market meltdown and rising unemployment.
But "the worst is yet to come," according to Howard Davidowitz, chairman of Davidowitz & Associates, who believes American's standard of living is undergoing a "permanent change" - and not for the better as a result of:
An $8 trillion negative wealth effect from declining home values.
A $10 trillion negative wealth effect from weakened capital markets.
A $14 trillion consumer debt load amid "exploding unemployment", leading to "exploding bankruptcies."
"The average American used to be able to borrow to buy a home, send their kids to a good school [and] buy a car," Davidowitz says. "A lot of that is gone."
Going forward, the veteran retail industry consultant foresees higher savings rate and people trading down in both the goods and services they buy - as well as their aspirations.
The end of rampant consumerism is ultimately a good thing, he says, but the unraveling of an economy built on debt-fueled spending will be painful for years to come.
Tuesday, February 17, 2009
Click here for photos of world's longest ear hair: http://www.dailymail.co.uk/news/article-1147686/Pictured-The-man-worlds-longest-ear-hair.html?ITO=1490
Saturday, February 14, 2009
Thursday, February 12, 2009
Just two days after President Obama told the American people the economic stimulus bill will have "no earmarks", the Associated Press reports that Sen. Harry Reid (D-Nevada) is telling his constituents in Nevada that he has personally worked out a deal as part of the House-Senate conference committee to get them money for a high-speed gambling train.
In late-stage talks, Obama and Senate Majority Leader Harry Reid, D-Nev., pressed for $8 billion to construct high-speed rail lines, quadrupling the amount in the bill that passed the Senate on Tuesday. Reid's office issued a statement noting that a proposed Los Angeles-to-Las Vegas rail might get a big chunk of the money.
This of course exposes the little game the President is playing with the public. He tells everyone there are no earmarks in the bill but then turns around and either (a) gives the money to the states, which he knows will fund the earmarks, or (b) instructs his agencies to fund the earmarks directly. It's all very clever, if not deceptive.
Reid's high-speed gambling train not only violates the President's guiding principles for this bill, it also violates American taxpayers.
Wednesday, February 11, 2009
Sorry, but it is fixed already. The answer to a decline in the value of speculative assets is to pay less for them. Job done.
The writer, P.J. O'Rouke, is a contributing editor at The Weekly Standard and is the author, most recently, of On The Wealth of Nations, Books That Changed the World, published by Atlantic Books, 2007
If this paragraph had been written yesterday, one would admire it as a remarkably precise explanation of recent events. But the truth is much more impressive: it is from a book first published in 1946, Henry Hazlitt's Economics in One Lesson --
"Government-guaranteed home mortgages, especially when a negligible down payment or no down payment whatever is required, inevitably mean more bad loans than otherwise. They force the general taxpayer to subsidize the bad risks and to defray the losses. They encourage people to "buy" houses that they cannot really afford. They tend eventually to bring about an oversupply of houses as compared with other things. They temporarily overstimulate building, raise the cost of building for everybody (including the buyers of the homes with the guaranteed mortgages), and may mislead the building industry into an eventually costly overexpansion. In brief, in they long run they do not increase overall national production but encourage malinvestment."
Friday, February 6, 2009
A US Soldier unleashes a foul mouthed, tongue lashing to Iraqi policemen (You have got to see this!)
From Nation Review: http://article.nationalreview.com/?q=YjcyODIyZGM2MGU1ZDdkNDgxZDc3OTNjYjM4ZDY1ODI=