Cramer On Obama Administration and Market Leninization and Stability – CNBC.com

Cramer On Stability *Airtime: Mon. Mar. 2 2009 | 4:02 PM ET Discussing what President Obama’s agenda means for your money, with Mad Money host Jim Cramer.

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March 2, 2009. Tags: , , , , , , , , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, Uncategorized, Wall St. 1 comment.

Roubini: AIG and banking system, Nationalization Debate Is Moot – CNBC.com

Airtime: Tues Asia Markets/ US Markets Mon. Mar. 2 2009 | 4:03 PM ET The debate isn’t about nationalization anymore says Nouriel Roubini, Chairman of RGE Monitor. He tells CNBC’s Martin Soong and Sri Jegerajah that the real discussion is whether banks should be wholly or partially nationalized.

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March 2, 2009. Tags: , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Uncategorized, Wall St. 2 comments.

And Now for Something Completely Different: Gone with the Wind, The SitCom

Created by TheThinWoman (and Selznick and Mitchell of course, lol)

(Warning , not for film purists!)

March 2, 2009. Tags: , , , , , , , , , . Entertainment, Fantasy, Film, Music, Popular Culture, Uncategorized. Comments off.

Market Update: We’re Goin Down, Down, Down….DOW down 300..12 yr lows..S & P closes at 700 support level….

(Bruce montage by SquirrelOne)

Closing Bell rings….DOW closes down 289 to 6773 down 300 to 6763

S & P down 34 to 700.99

NASDAQ down 52 to 1325..

…12 yr lows….ZERO confidence in this Administration, they clearly could care less what happens to markets….

hold on everyone and let’s make a difference in 2010!!!

March 2, 2009. Tags: , , , , , , , , , , , , , . Economy, Finance, Music, Obama Administration, Politics, Popular Culture, Uncategorized, Wall St. 1 comment.

BREAKING: Senate Panel: “errors in USTR Nominee Kirk’s Tax Returns..Amended Returns WILL be filed for 2005/06/07”

I think I have figured out who is doing the vetting and financial planning there in the WH….the F Troop… smooth moves Team Obama, BWAAAHAA!!

UPDATE: Ben Smith has it up:February 2009

The Senate Finance Committee tells reporters that USTR nominee Ron Kirk, too, has had to pay some back taxes over honoraria that he did not collect — the were recorded as a donation to his school — but, in some cases, did deduct.

SENATE CMTE REPORT: The Senate Finance Committee today released its report on the nomination of Ron Kirk to be United States Trade Representative. The report, compiled from information received and discovered in the Finance Committee’s vetting process of the nominee, reflect certain errors in the nominee’s past tax returns. Steps have been taken by the nominee to bring tax returns into compliance.

After reviewing Mayor Kirk’s tax returns for 2005, 2006 and 2007, Finance Committee staff submitted several questions to Mr. Kirk on February 6, 2009. The questions included a request for clarification of his practice of assigning honoraria to Austin College and whether the honoraria should have been reported as taxable income, substantiation of various charitable donations and other miscellaneous tax questions. Mayor Kirk provided written responses to the questions on February 17, 2009. He met with Finance Committee staff on February 19, 2009 for a due diligence meeting and to answer tax questions that had not been resolved by his written responses. Mayor Kirk submitted additional information to Committee staff on February 24, 2009 and February 28, 2009.

The results of the staff review of Mayor Kirk’s information are described below. Mayor Kirk has agreed to promptly file amended returns reflecting the adjustments discussed in this memo. Staff estimates the total tax adjustments on Mayor Kirk’s amended returns for 2005, 2006 and 2007 will be approximately $9,975.

From the what the frak is wrong with these people, (especially the vetters) files:

Senate Panel: “errors in USTR Nominee Kirk’s Tax Returns…”

Senate Panel: “Kirk will file Amended returns for 2005, 2006, 2007”

Background on Kirk nomination here

flashing on CNBC Chryon now, Reuters byline, nothing online yet, will keep checking..

(more…)

March 2, 2009. Tags: , , , , , , , , , , , , , , , , , , , , . Cabinet, Economy, Entertainment, Finance, Obama Administration, Politics, Popular Culture, Uncategorized. 1 comment.

Ayn Rand Interview 1959

Since Atlas is Shruggin’ and all…

Part II first, it is the best summation of laissez faire capitalism and Ayn Rand I have ever heard or read and from her own lips, this clip covers politics and the welfare state and socialism,and it is frankly like she is talking to us RIGHT NOW..urgently….

And from The Fountainhead, the summation by Howard Roarke/Gary Cooper

(more…)

March 2, 2009. Tags: , , , , , , , . Economy, Film, Finance, Obama Administration, Politics, Popular Culture, Uncategorized, Wall St. 1 comment.

Economic Stimulus Update: Unemployment Benefits…FL

by Keith Knight

by Keith Knight

The states are between a rock and a hard place on the stimulus, to take or not to take, that is the question…

LYRICS, ROLLING STONES:

The fields of Eden Are full of trash
But if we beg and we borrow and steal
We’ll never get it back

People are hungry They crowd around
And the city gets bigger as the country comes begging to town
We’re stuck between a rock And a hard place
Between a rock and a hard place

Update from FL, where the GOP Governor and State Legislature are having the same battles over the Federal Stimulus as we are in AZ….

St Petersburg Times:

Crist portrays the federal aid as a panacea that would allow the state to avoid deep budget cuts, afford some property-tax cuts and increase spending.

“It’s a whole new world,” Crist said. “We’re in an economic crisis. We need this money to get us to a bridge to a better future. And I believe that by the time those three years pass we will be on the rebound.”

But three years of record job losses, plummeting tax collections and a flat-lined housing market mean legislators don’t all share Crist’s optimism. “The governor has a very positive outlook and I mean that with all due respect,” said Republican Senate President Jeff Atwater. “We don’t have a crystal ball. We don’t know how deep this (bad economy) is going to go. We don’t know how long this is going to last.”

That is the question. What happens if the economy doesn not recover and all these long term changes to state laws are enacted? The states would be in thrall to Federal handouts..

Legislators fret that Crist’s $66.5 billion budget proposal for next year is based on rosy financial assumptions that will likely be disproved when state economists meet March 13 to estimate state revenues. Also of concern in Crist’s budget: Of the government expenses that occur annually, 12 percent would be paid for through one-time money sources, such as the stimulus package.

What does it take to get it passed?

The state Constitution requires a supermajority vote of the Legislature if more than 3 percent of recurring expenses are funded from one-time money sources.

Legislators worry about expanding government programs — especially Medicaid — with money that would disappear in three years, leaving the state with large entitlement programs and less money.

“It’s like someone gave you a Mercedes and said they made a few down payments. Now the rest is up to you,” said Punta Gorda Republican Rep. Paige Kreegel.

Atwater and acting House Speaker Larry Cretul say they’re also unsure what strings might be attached to the hastily passed stimulus package.

The package seeks to ensure that legislators don’t cut programs that already receive federal money. So to get the bulk of the cash, Florida has to maintain relatively high levels of spending for health care, schools and transportation.

(more…)

March 2, 2009. Tags: , , , , , , . Economy, Finance, Foreclosures, Housing, Labor Department, Music, Obama Administration, Politics, Popular Culture, Uncategorized, Unemployment Statistics, Wall St. 1 comment.

Market Open: DOW drops below 7000

Update: ISM numbers out….construction lowest pace in 4 years..

we open under 7000, first time since October 28, 1997, down 134 to 6920
broad market selloff

S & P down 15 to 719, NAS down 20 to 1357

Oil selling off too, down 4 and change

highlights this week include the details of the Obama Housing Plan which goes into effect Wednesday…and the February unemployment numbers released Friday….

Might as well go down groovy if we are going down….hang on sloopy sloopy hang on yeah yeah yeah!

March 2, 2009. Tags: , , , , . Economy, Entertainment, Finance, Foreclosures, Housing, Music, Obama Administration, Politics, Popular Culture, Uncategorized. 1 comment.

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