Monday, February 1, 2010

At Some Point.....

At some point the lying, cheating and stealing will have to stop, but it wont be this week (or next, or....). So, any good news? Not unless your favorite college team stole a recruit from a hated rival.

Let's get on with it.

The first order of business today is The Treasury Is Soliciting Your Feedback Regarding The Proposed Annuitization Of 401(k). Yes, step two is happening and rather quickly. I think they are pretty serious about this move. They want to tap your retirement savings to save the nation (whether you like it or not). The full letter is in the ZH post. Please use the email wisely and forward it to everyone one of your contacts. "For readers who feel compelled to respond to this increasignly socialistic and ludicrous development, we suggest you voice your anger at the following address:
  • Include RIN 1210-AB33 in the subject line of the message
Mish clears up the never ending employment question in Massive Layoffs Coming in NYC, Nevada, California, Colorado, Arizona, Everywhere. The double dip is coming and you will like it. Assume the position. Thank you sir, may I have another! This one is a must read as the employment issues that hit the state's proverbial fan this year across the country will be astounding. "Here's a sobering thought for all the stock market bulls: The best of this "recovery" is now likely behind us, the official unemployment rate is still over 10%, and massive layoffs are on the horizon for city and state workers across the country."

Did you know that SIGTARP Probing Insider Trading? Really? Well that is better than the spineless SEC or FINRA have done. "The Financial Times appears to have broken the story that the Office of the Special Inspector General is investigating reports of insider trading in connection with the TARP. And what makes this probe potentially serious (aside from the brazenness of it) is that the suspects include executives as well as foot soldiers:" I don't believe it for one minute. Who would insinuate the banksters would do such a thing? I mean, like, really now.

The biggest tell all along to me has been the banks less than stellar effort to loan funds to consumers and small business. They know what is coming. They know where the real problems lie. They know the deal. In Fed: Banks Cease Tightening Standards, Loan Demand Weakens Further you find out now that even the consumer sees no need to borrow at this point. We're all sick of it and don't want any more. Like gorging at the all you can eat catfish buffet for 4 years, you kind of lose your taste for the stuff. Maybe, the public is catching on (that or they are tired of paying 30% on their CC balances). 

The most interesting thing I read today (and was going to do a full post/rant on the subject) was Poll: Americans pretty clueless about politics, world  I have been barking a lot over the past several months about how stupid the average American is and how we don't give a damn about anything other than our big screens and Cheetos. This post proves it.  In a poll run by The Pew Research Center We learn just how ignorant we as a country are to some pretty basic topics. I encourage you to take the poll, cause it ain't all that hard. Most answers are either obvious or can be narrowed to 50/50 very easily. I'm  telling you, we are a large part of the problem. We are lazy and just want to roll along and not have to worry about shit "we have enough problems as it is". LOL. We are so out of the loop clueless it is astounding. This translates (in a negative manner) to our need/desire for and active populace to promote positive CHANGE. I just hope we are not so far out of it that we can't rise up to regain this country from the terrorist hijackers that have control of it at this point. 

Thanks for the read and have a great evening.