Okay, now this is just the most 'whacked out' plan ever. The U.S. Government, the same entity that brought you: Auto Bailouts, Bank Bailouts, Stimulus, zero percent fed funds rate, rising unemployment, and a penchant for printing money faster than a nuclear particle accelerator. Now came up with the brillant idea of gauranteeing your new car warranty, if the auto industry goes out of business.
Yeah right, like anyone is buying a new car. I was at the dealer today and it was a fricking ghost town!
What does a gaurantee mean when the dollar falls below the peso?
Monday, March 30, 2009
Tuesday, March 3, 2009
Minnesota's February Forecast Released
If the last election has you more interested in politics than ever before.
If you read the newspaper and think, there has to be more information.
If you are concerned about Minnesota's economic future.
Than you really owe it to yourself to read or at least skim the Minnesota Management and Budget Office's February Forecast. It is a complete economic picture of Minnesota right now and a short prospectus for future quarters of economic activity.
Give it a look see!
http://www.mmb.state.mn.us/doc/fu/09/complete-feb09.pdf
If you read the newspaper and think, there has to be more information.
If you are concerned about Minnesota's economic future.
Than you really owe it to yourself to read or at least skim the Minnesota Management and Budget Office's February Forecast. It is a complete economic picture of Minnesota right now and a short prospectus for future quarters of economic activity.
Give it a look see!
http://www.mmb.state.mn.us/doc/fu/09/complete-feb09.pdf
Monday, March 2, 2009
AIG gets 4th Billion Dollar Government Handout!!
Well the U.S. Government must be reading "The Little Engine that Could" because it sure doesn't know when to give up.
The New York Times is reporting the U.S. Government is about to bailout AIG for the fourth, count them, one, two, three, four, fourth time.
Apparently, all the help offered thus far has not been nearly quite enough. Let's briefly review.
First time around, the U.S. Government gave AIG a $60 billion loan. That should do it right? I mean $60,000,000,000 'it ain't peanuts' am I right? Well no, not quite.
Second time around, the U.S. Government purchased $40 billion worth of preferred stock. Making the Government one of the largest share holders. Now that outta do it right? I mean $100 billion total, now we are talking real money. Nope not going to happen.
Third time around, the U.S. Government spends $50 billion to clean up AIG's so called Toxic Assets. BTW, Toxic Assets to you and me are called 'poor investment choices' or huge credit bills at high interest rates with no way to pay. The government as it's role of 'lender of last resort' is diehard against letting AIG fail. It would rather keep it on the Government roll.
Ok that's it I've fricken had it. We've given you $150 billion and you still can't make it? Does AIG strike anyone else like that gambling addicted uncle you remember from your childhood? You know who I am talking about. The one who when he showed up you hid your piggy bank to make sure you didn't lose your allowance to gambling addicted alcholic bum. Remember when he showed up to your birthday party and your gift was pre-played pull tabs and a pine tree air freshner? Remember asking yourself why your mother kept handing him money and making him dinner without so much as a thank you. All you kept thinking to yourself was how all you got was a mere $2.50 a week and had to do all your chores meanwhile your uncle could show up unannouced wreaking of booze, fresh off that gambling loss without a cent to his name and he would still manage to get $100-$200 out of your parents. But oh yeah, that's right 'it's a disease,' yeah sure. You sick alright. Sick of working for a living and following the rules like the rest of us smucks! Seriously, does AIG remind anyone else of their deadbeat uncle or is it just me?
Wait what's that? You need $30 billion more? "No problem, step right into my office Mr. AIG? We have that $30 billion right over hear. What worried about paying back the $150 billion you already own us, nonsense. What will the American people think? I wouldn't worry your pretty little head about those things. We'll just slip it into the business section of the NY Times on a Saturday after people have completely given up reading the paper and watching the news.
What does the U.S. Government say to defend it's position? "AIG is intricately woven through the words banking system." Therefore we must give them billions and take massive stakes in the company. News flash! If you would have let them fail to begin with then they wouldn't have been so "woven" would they?
After this transaction the U.S. Government will own 80% of AIG's holding company. That's right 80%!
In fact, if the Government would own any more of AIG, greater than 80%, than the U.S. Government would have to consolidate AIG's and US finances onto one balance sheet leaving the U.S. Government responsible to nearly 76 million insurance policy holders from around the world!
Soon enough AIG and USA will be synonymous and interchangeable.
I think AIG stands for 'Already in Government's pocket' and USA stands for "U Screwed us All!"
The New York Times is reporting the U.S. Government is about to bailout AIG for the fourth, count them, one, two, three, four, fourth time.
Apparently, all the help offered thus far has not been nearly quite enough. Let's briefly review.
First time around, the U.S. Government gave AIG a $60 billion loan. That should do it right? I mean $60,000,000,000 'it ain't peanuts' am I right? Well no, not quite.
Second time around, the U.S. Government purchased $40 billion worth of preferred stock. Making the Government one of the largest share holders. Now that outta do it right? I mean $100 billion total, now we are talking real money. Nope not going to happen.
Third time around, the U.S. Government spends $50 billion to clean up AIG's so called Toxic Assets. BTW, Toxic Assets to you and me are called 'poor investment choices' or huge credit bills at high interest rates with no way to pay. The government as it's role of 'lender of last resort' is diehard against letting AIG fail. It would rather keep it on the Government roll.
Ok that's it I've fricken had it. We've given you $150 billion and you still can't make it? Does AIG strike anyone else like that gambling addicted uncle you remember from your childhood? You know who I am talking about. The one who when he showed up you hid your piggy bank to make sure you didn't lose your allowance to gambling addicted alcholic bum. Remember when he showed up to your birthday party and your gift was pre-played pull tabs and a pine tree air freshner? Remember asking yourself why your mother kept handing him money and making him dinner without so much as a thank you. All you kept thinking to yourself was how all you got was a mere $2.50 a week and had to do all your chores meanwhile your uncle could show up unannouced wreaking of booze, fresh off that gambling loss without a cent to his name and he would still manage to get $100-$200 out of your parents. But oh yeah, that's right 'it's a disease,' yeah sure. You sick alright. Sick of working for a living and following the rules like the rest of us smucks! Seriously, does AIG remind anyone else of their deadbeat uncle or is it just me?
Wait what's that? You need $30 billion more? "No problem, step right into my office Mr. AIG? We have that $30 billion right over hear. What worried about paying back the $150 billion you already own us, nonsense. What will the American people think? I wouldn't worry your pretty little head about those things. We'll just slip it into the business section of the NY Times on a Saturday after people have completely given up reading the paper and watching the news.
What does the U.S. Government say to defend it's position? "AIG is intricately woven through the words banking system." Therefore we must give them billions and take massive stakes in the company. News flash! If you would have let them fail to begin with then they wouldn't have been so "woven" would they?
After this transaction the U.S. Government will own 80% of AIG's holding company. That's right 80%!
In fact, if the Government would own any more of AIG, greater than 80%, than the U.S. Government would have to consolidate AIG's and US finances onto one balance sheet leaving the U.S. Government responsible to nearly 76 million insurance policy holders from around the world!
Soon enough AIG and USA will be synonymous and interchangeable.
I think AIG stands for 'Already in Government's pocket' and USA stands for "U Screwed us All!"
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