During my moment of bliss (market down = my blood pressure down), thought I would go looking for some more "good news" about our administrations fine actions after the "antitrust" issue the other day.
Did not take long. On my nightly journey to my usual haunts Zero Hedge (is always the first visit), then Naked Capitalism, Mish, Calculated Risk, Pragmatic Capitalist and finally Seeking Alpha (all have links here), I attain a wealth of news (correction - news is a bad word that denotes a lack of truth) blog posts (much better) that have scoured the blogosphere and reliable sources to assimilate the days actions in a concise easy read that contains actual opinions that are not "governed" or "restricted" by some superior special interest group or employer with an agenda. In other words, you won't find shareholders at annual meetings challenging their ethical agenda.
First let me start with Mish's articles on the problems in California and then we'll get to the "Change you Can Believe In" part (we are sooo screwed).From the files of "what you won't see on CNBS", Mish in "California is a Complete Basket Case; Treasurer Requests Tarp Funds; LA Mayor Declares Emergency" documents that the problems in California may be finally getting out of hand (no shit). "Assuming the hikes do not pass, California will be $29 billion in the hole, and counting, with the important phrase being "and counting" is a classic Mishism. The 7th largest economy in the world is on the event horizon of the black hole of doom and they are looking for us to bail them out. Some speculate that the left coast will all simply fall into the ocean one day cause of the San Andreas Fault, hmmm, I think I just thought of a way to save us $29 billion (and counting).
In a previous article "California, Please Send A Message!" Mish discusses the losing proposition of increasing taxes to pay for this mess. "The idea that one can borrow money from lottery proceedings to balance the budget is of course preposterous. And anyone voting for $16 billion in higher taxes either has holes in their head or is a direct recipient of the money." Did you hear that? Did you get it? I bolded what I believe the overriding problem is and will continue to be under this administration. Bueller, Bueller, anyone.....
Which leads to this - Comic relief time.....(she's from Florida not CA)
Now the really meaty part of all of this. How does YOUR administration react to the problem? Do they A) Support the state and its right to independent decision making, B) Tell 'em to go ___ themselves, or C) Offer help, but but only if things are done "their" way with no questions asked?
I'll leave you in suspense no longer. The answer can be found in this delightful article from IBD (via Zero Hedge) "A Carelessness Now Bordering On Lawlessness". DIG THIS, "Such a federal ukase (the word derives from czarist Russia; how appropriate) to a state legislature is a sign of the administration's dependency agenda — maximizing the number of people and institutions dependent on the federal government." Ouch, so much for my blood pressure. (shake my head in disgust, bang my head on desk, head in hands in total disbelief) Folks, if you thought the nationalization of the banks was bad (yes, they are essentially nationalized and if you don't think so get a life), when the government starts blackmailing the states to promote their socialist agendas it is not a good thing (and if you think it is go away and never read this blog again).
I won't go on any longer here, but more is to come I guarantee. I'm stopping short of really teeing off on the O and his group of merry men. Guess they get the low blood pressure reprieve, this time.