November 13, 2008

I Am Troll....Feed Me

My nephew is growing fast. At 17 months, he is already wanting to use the big potty himself. Gets his own juice and milk from the fridge. He also has a little brother too. He is now saying "brudda". I talk to him when i can and he loves it.

He even went on his first trick or treat outing this year. So damn adorable. He's gonna be a heart breaker growing up.


Feed Me Seymour



















Tricks or Treats

























Brudderly Love


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$700 Billion Bailout Fails

What else is new. We have a failing country run by a failing government. There's suddenly a flip flop on what the money is going to be used for, and now it's costing us more then $700 billion. But i bet most of this admins workers will walk away with a very nice compensation. Along with the CEO's of certain companies.

I have always loved reading the comics in the news paper. But haven't had a lot of time recently to keep up with them. A friend of mine sent me this one from the Wizard of Id. One of my favorites.








It speaks volumes.

The articles in today's news read as follows:
While the government is clearly spending a lot of taxpayers' money to bail out financial firms, the tally is even bigger than most Americans (economists and pundits included) are probably aware or willing to admit.

The bailout bonanza has gotten so big and happened so fast it's the true cost often gets lost in the discussion. Maybe Hank Paulson and Ben Bernanke prefer it that way because the tally so far is nearly $3.5 trillion, and that's before a likely handout for the auto industry.

Yes, $3.45 trillion has already been spent, as Bailoutsleuth.com details:

* $2T Emergency Fed Loans (the ones the Fed won't discuss, as detailed here)
* $700B TARP (designed to buy bad debt, the fund is rapidly transforming as we'll discuss in an upcoming segment)
* $300B Hope Now (the government's year-old attempt at mortgage workouts)
* $200B Fannie/Freddie
* $140B Tax Breaks for Banks (WaPo has the details)
* $110B: AIG (with it's new deal this week, the big insurer got $40B of TARP money, plus $110B in other relief)

Tallying up the "true" cost of the bailout is difficult, and won't be known for months if not years. But considering $3.5 trillion is about 25% of the U.S. economy ($13.8 trillion in 2007) and the U.S. deficit may hit $1 trillion in fiscal 2009, hyperinflation and/or sharply higher interest rates seem likely outcomes down the road.

At the very least, the possibility of the U.S. losing its vaunted Aaa credit rating -- which determines the Treasury's borrowing costs -- cannot be discounted.

Moody's has already said it's not in jeopardy of being lowered. But we really can't put much stock in what Moody's -- or S&P or Fitch -- say after the subprime debacle, can we? More importantly, the price of credit default swaps on U.S. government debt has been on the rise since the bailout train got rolling, as Barron's reports.

Story Here



Then there is this one:



Paulson said the government's $700 billion financial rescue package won't purchase troubled assets from banks after all. He said that plan would have taken too much time, and that the Treasury instead will rely on buying stakes in banks and encouraging them to resume more normal lending.

Story Here


More flip flop, more of the same lies, more of the failed govt. How much more can the American public take?
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