Category Archives: Economics

Investors Love Democrats!

It’s 1960 and you’re feeling flush because you have a thousand extra bucks to invest. Do you vote for John F. Kennedy or Richard Nixon?

Well conservatives would say, “…vote Republican because we’re better stewards of the economy.” In fact Mitt Romney is ‘banking’ on the notion that you’ll think his Bain Capital experience makes him the obvious choice, but the facts are otherwise. Here’s the real story:

Appreciation of $1000.00 during all the Democratic administrations since 1960: $10,920.00

Appreciation of $1000.00 during all the Republican administrations since 1960: $2,087.00

In other words, during the 28 years that Republicans have held the White House, your $1,000.00 has just barely doubled. But in the 23 years that Democrats have been in office, you’re money would have multiplied by a factor of 10! So which party should we be entrusting the economy to?

Republicans are good an enriching somebody…no doubt, but it’s not the average investor.

The Stupor Committee

The bi-partisan Super Committee has admitted defeat.  Tasked with finding $1.2 trillion in spending reductions, they have proved unable to push past party politics.  Mired in political gridlock yesterday the Committee threw up its hands and told the American public that we just don’t matter.  Well it matters to the stock market.  It tanked 284 points on the news.  And it matters to seniors looking to have their Social Security cut back, their Medicare and Medicaid cut off.  It matters to the jobless.

Because this Congress can’t work together like adults, there will be no tax reform, there will be not additional revenue raised to pay down our horrifying deficit.  There will be no new jobs.  Yes, America for your money and your patience, you once again get nothing.

Inflation? What inflation

Diabolically oblivious Fed Chairman Ben Bernanke made news this week when in the face of all credible evidence to the contrary, he declared there is “No inflation” in America right now.  Really Ben?  Really?  Well let’s look at the facts, shall we?  The price of gas is up, the price of food is up, the price of energy is…say it with me…up.  In fact Mr. Chairman if you do the research you’ll learn that the cost of the makings of a Thanksgiving dinner are also up.  13% year over year.  That’s what I call double digit inflation.  I find it incredibly disingenous of the government to tell us that inflation is stable while not counting the most combustile priced things that we buy.  As the Frog pointed out to me gas has gone up (and then down again) at least 20% over the past year alone.  I’m guessing it’s only going to go up again.  So are food prices.  I was at a convenience store today where they were touting milk for $3.99 a gallon.  When did $3.99 milk become a bargain?  Oh yeah, right about the time they raised the cost of my parking by 20% and then another 20% a few short months later.  No inflation, just saying that doesn’t make it so.

The bottom 90% get Texas?

So let me get this straight…the top 1% get the Pacific Northwest, all those great national parks and Silicon Valley. The 9% below the top get the crumbling infrastructure of the Northeast, snow, sleet, and freezing rain. And the poor schmucks at the bottom get crushing humidity, arid wastes, and…well…Texas.

Yup, seems like a map drawn to satisfy those at the top.

“Where’s my f*cking mortgage check?!”

So first it was the Obama administration with their Home Affordable Modification Program, designed to keep underwater borrowers in their homes by offering them mortgage modifications through their lenders. Now…conservative economists and even a few Republican presidential hopefuls are jumping on the massive, taxpayer-funded, mortgage modification bandwagon—though not out of a sense of compassion for homeowners, but rather the realization that banks, and the economy more generally, need consumers to be consuming, something they can’t do now due to crushing mortgage debt.

But what I want to know—and I don’t really give a damn whether the answer comes from a Democrat or a Republican—is: Where the f*ck is *my* god-damned mortgage relief!?

I’m over here playing by the rules. I bought a house I could afford, even if either the Frogette or I lose our job. I got a good rate; put down the requisite 20%; am busy pumping money into the local economy by refurbishing and renovating a 90 year home that was desperately in need of serious work. I’m doing every freakin’ thing those ass-wipes in the Obama administration or the RNC could possibly expect, but will I see even one penny from a new mortgage relief program? NOT BLOODY LIKELY!

Now I’m not greedy. I won’t even ask for money in my pocket. How about this: In exchange for another bailout for homeowners who have no money and less sense, I’d like big fat payment toward the installation of a full-up solar generation system with battery backup. In other words, help get me off the grid, and I’ll help get the economy moving again. And, when the Rethuglicans bitch about subsidies for solar energy, President Wuss should be required to tell them to go and F*CK THEMSELVES!!!

Bitch…you crazy!

Michelle Bachmann today stood up for millionaire and billionaires everywhere when she declared in her campaigning that, “Taxes are high enough already”.   Watch the video and tell me that you don’t think her audience is not made up of the super wealthy.  I’ve never seen a more lukewarm reception.  Had I not read she was in South Carolina, I would have thought she was in her home state trying to convince the Minnesotans that taxes are, ‘too damn high’.  As it is, the audience is probably all snowbirds anyway.  I mean let’s face it Midwesterners love the South, and they will do anything to evade paying taxes in their home state, so maybe they really are her demographic.

Washington politicians flush U.S. economy down the toilet

I am so sick of the debate over the debt ceiling.  It’s all anyone has talked about for the past couple of weeks.  News outlets breathlessly report that we are approaching the time limit for passing debt ceiling legislation while Tea Partiers harrass their newly elected representatives saying that raised taxes will end in their being turned out of office.  It’s all rhetoric.  That is until Moody’s really does downgrade the U.S. credit and we’re all totally humped.  And President Obama, this appeal the middle class to ‘sacrifice’ for the sake of the Nation.  You can just stuff it.  I’ve sacrificed all right.  I’ve paid into social security, worker’s comp and Medicare/Medicaid all my life and I’m not going to get diddly from any one of those programs.  I accept that and I’ve planned for my retirement, but if you and the Congress blow this one the U.S. economy is going to spiral into freefall and once again I’ll watch my retirement savings vanish in front of my eyes.

It’s time for you people to make a deal and get real.  Raise taxes.  You don’t pay your bills by making less money, why on earth would you believe the U.S. can meet it’s debts without bringing in more cash?  We are borrowing money now because we don’t have enough to meet our obligations.  Cut spending.  Stop funding wars, prisons, and programs we simply don’t need.  No sacred cows.  Just do it.  America is tired of hearing you all rail about the debt.  We want a solution, not more hot air so get in there and hash out a deal.  Or I myself will make it my mission to turn you out of office.  You hear me?

Government shut down a non-starter

Seems like all the talk around Washington this week is about the Republicans threat to “shut down the government” if their spending bill isn’t passed.  They say it like it’s a foregone conclusion.  Even Alaskan whack job Sarah Palin is on board suggesting that shutting down the government could be a solution to our debt crisis. Ummm…how?  Besides our government doesn’t currently have a kill switch.  You can’t just shut it down when you’re having a fit.  There are people and services at stake.  Think about it.  Government shuts down, you’re not getting that tax return you are so anxiously awaiting in the mail, grannie isn’t getting her social security check or her Medicare, and no one will be inspecting your food, planes, highways, the list is endless.  As much as I want to see the debt reduced, this is just plain nonsense and it has to be taken off the table.

Reaping what you sow

Dear America –

When you voted in the mid-term elections to put those Republican asshats back in power you thought you were doing the right thing. Well, the chickens are comin’ home to roost y’all. They announced this week a large round of spending cuts, $60 billion dollars worth. What are they cutting you ask?

– scholarships

– family planning

– the Corporation for Public Broadcasting

– AmeriCorps

– the COPS Hiring program

– Food safety, nutrition programs and the FDA

and much, much more.  What they won’t touch is defense spending.  The real elephant in the room.  You want to balance this budget and save your children from ruin?  Cut defense.  Plain and simple.

So if you thought the government was going to help fund your kids underfunded education or little Jimmy would get a scholarship to college, you can think again.  Just remember America.  You did this to yourselves.