Video: Speaker Boehner’s Address to the Economic Club of New York on Jobs, Debt, Gas Prices

Vodpod videos no longer available.

1st collector for Video: Speaker Boehner’s Address to the Economi…
Follow my videos on vodpod

May 10, 2011. Tags: , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, TARP, Taxes, Unemployment Statistics, Wall St. Comments off.

Update: Bernanke gets his Joe Cassano on…

Update: 4/17/11~ Question Asked, Question Answered~ (emphasis from original)

Stunningly, today we learn that to keep long rates low, the Fed may have resorted to nothing short of the same suicidal trade that destroyed AIG FP and brought the entire system to its knees. Namely, Ben Bernanke is now quite possibly the second coming of Joe Cassano, since in order to keep rates low, Bernanke is forced to a last resort action of selling billions upon billions of Treasury puts to “pin” rates low contrary to natural supply-demand mechanics…


(more…)

April 15, 2011. Tags: , , , , , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, TARP, Taxes, Unemployment Statistics, Wall St. Comments off.

Video: Paul Ryan unveils budget ~ Gen X is ready to take some pain, are you?

Vodpod videos no longer available.

Rep Ryan on Squawk Box this morning discussing his budget.

Gen X will be the first to hit the new Medicare Premium Assistance Program in 2022.

We always knew it would be us. At this point I am GLAD it is us. The Boomers don’t have the fortitude of their parents and all they do is consume.

Only the Thirteenth Generation aka Gen X, is prepared to sacrifice.

After all, we are used to it. We expected it. Hell, we have been waiting for the other shoe to drop on us since our first experience following Boomers, the Carter years, and then the pain of Volcker slaying inflation during Reagan’s recession. And don’t forget the FICA tax increase we got to pay for Boomers’ retirement, the $$ that is now-gone and which we will have to pay, again.

Fact is, we are a small enough generational cohort that the pols feel comfy shafting us, always have, always will.

Heaven forfend someone should ask the frakkin Boomers to share the pain. They still think they are God’s gift to the world.

So instead of righting the ship immediately, which we could do if the Boomers would give something up, we in Gen X will take the first hit.

So here we are, stepping up, ready to share the burden.

FIX IT NOW. CUT NOW. WE ARE READY.

We are the Eeyores of the current populace and we have always been ready to get the shaft, at least let us do it now so we feel we contributed something meaningful while we got screwed…

and PS-Thank you Rep. Ryan!

Andrew Stiles breaks out some numbers on NRO:

$6.2 trillion — Amount of spending cuts proposed relative to President Obama’s 2012 budget request.

$5.8 trillion — Amount of spending cuts proposed relative to the current CBO baseline.

2008 — Ryan’s plan would bring non-security discretionary spending to below 2008 levels (pre-stimulus, pre-bailout, pre-Obama).

20 percent — Target spending levels (as a percentage of GDP).

$4.4 trillion — Total deficit reduction over 10 years called for under the plan, compared to $4 trillion under Bowles-Simpson and just $1.1 trillion under Obama’s 2012 budget.

$4.7 trillion — Total debt reduction relative to Obama’s budget.

$178 billion — Amount of saving achieved in the Defense Department budget, per the recommendations of Defense Secretary Robert Gates, $100 billion of which would be reinvested, the rest used to reduce the deficit.

$750 billion — Total savings achieved through Medicaid reform, in the form of block grants to states, giving governors greater flexibility in their budgets.

2022 — Year that proposed Medicare reforms would take effect.

25 percent — The top tax rate proposed for both individuals and companies.

18-19 percent — Target revenue levels (as a percentage of GDP), in keeping with historic average levels.

$800 billion — Total amount of tax increases eliminated by repealing Obamacare.

1 million — Private-sector jobs created over the next year.

4 percent — Projected unemployment rate by 2015.

$1.5 trillion — Projected growth in real GDP over the next decade.

$1.1 trillion — Estimate increase in wages over 10 years, yielding an average increase in income of $1,000 per year for each American family.

10 percent — Proposed reduction to the federal workforce over the next three years.

$120 trillion — Total debt reduction by 2050 relative to Obama’s budget.

Update: Oh here we go, Boomers whining about not having enough to live in style in retirement. Cry me a frakkin river dudes, you spent it all and THEN some (and once again Gen X, following your shenanigans, got the 1st 10 yr run with no $$ in stocks) but dont worry your Berbanke is printing just as fast as he can so you can continue to take cruises every spring (until stagflation catches up to us).

Your idiotic brain trust picked out Obama to be POTUS! There are no more resources for you to consume! Jeebus, get a grip!

The 77 million-strong generation born between 1946 and 1964 has clung tenaciously to its youth. Now, boomers are getting nervous about retirement. Only 11 percent say they are strongly convinced they will be able to live in comfort.

1st collector for Video~ Paul Ryan unveils budget~ Gen X is ready…
Follow my videos on vodpod

April 5, 2011. Tags: , , , , , , , , , . Economy, Finance, Healthcare, Obama Administration, Politics, Popular Culture, Taxes, Unemployment Statistics, Wall St. Comments off.

Weren’t we told Obama is our Spock? ST II WoK ‘The Needs of the Many’ FILK

Shout out to the brave souls who have stayed behind trying to stop the reactors from melting down~

(more…)

March 16, 2011. Tags: , , , , , , , , , , , . Fiction, Film, Obama Administration, Politics, Popular Culture, Rodenberry, Sci Fi, Star Trek. Comments off.

SOTU Response from Paul Ryan (R-WI) ~ Mama Said Wonk You Out

Update 2:

Update: Excerpts from Ryan’s SOTU response here:

SPENDING: “In one of our first acts in the new majority, House Republicans voted to cut Congress’s own budget. And just today, the House voted to restore the spending discipline that Washington sorely needs. The reason is simple. A few years ago, reducing spending was important. Today, it’s imperative. Here’s why. We face a crushing burden of debt. The debt will soon eclipse our entire economy, and grow to catastrophic levels in the years ahead. On this current path, when my three children – who are now 6, 7, and 8 years old – are raising their own children, the federal government will double in size, and so will the taxes they pay. No economy can sustain such high levels of debt and taxation. The next generation will inherit a stagnant economy and a diminished country. Frankly, it’s one of my greatest concerns as a parent – and I know many of you feel the same way.”

**********

BUDGET: “Americans are skeptical of both political parties, and that skepticism is justified – especially when it comes to spending. So hold all of us accountable. In this very room, the House will produce, debate, and advance a budget. Last year – in an unprecedented failure– Congress chose not to pass, or even propose a budget. The spending spree continued unchecked. We owe you a better choice and a different vision. Our forthcoming budget is our obligation to you – to show you how we intend to do things differently, how we will cut spending to get the debt down, help create jobs and prosperity, and reform government programs.”

**********

FISCAL CHALLENGE AHEAD: “Our nation is approaching a tipping point. We are at a moment, where if government’s growth is left unchecked and unchallenged, America’s best century will be considered our past century. This is a future in which we will transform our social safety net into a hammock, which lulls able-bodied people into lives of complacency and dependency. Depending on bureaucracy to foster innovation, competitiveness, and wise consumer choices has never worked – and it won’t work now. We need to chart a new course.”

**********

And he NAILED the American  spirit here:

LIMITED GOVERNMENT: “We need to reclaim our American system of limited government, low taxes, reasonable regulations, and sound money, which has blessed us with unprecedented prosperity. And it has done more to help the poor than any other economic system ever designed. That’s the real secret to job creation – not borrowing and spending more money in Washington. Limited government and free enterprise have helped make America the greatest nation on earth.”

I want a wonkfest from Paul Ryan tonight. It is PAST time. Americans are ready. We see it globally. We see it in Fed money printing and out of control Democratic spending with NO MEANINGFUL POSITIVE RESULTS.

We are ready to hear the bad news, then the prescription for the fix, and we want NUMBERS AND WONKERY OF THE HIGHEST ORDER!

We already have PLENTY of wordfog, fury signifying nothing, from Mr Bombastic Fantastic Obama in the SOTU, I hope the GOP Leadership allows Rep. Ryan to be Ryan in all his wonky glory.

Show us the problem, show us your plan, by the numbers, then finish up with a reminder of who we are, Americans. How we have built this country and how the American people have never met an insurmountable obstacle and that includes this debt and deficit. We are in it to win it. With the balance come the jobs.

Beware of violent lyrics from LL here~Tipper would want that PMRC label large~

And a tune to while away the SOTU from Mr Bombastic, this one is House, MD style courtesy of MalloryKnox79~

January 25, 2011. Tags: , , , , , , , , . Economy, Obama Administration, Politics, Popular Culture, Unemployment Statistics. Comments off.

Welcome Speaker Boehner! Go Away Pelosi, far, far away…

Update: Boehner full speech and swearing in courtesy of theRightScoop.com


Jeebus I thought she would never shut up….

God Bless Speaker Boehner and the new Majority of the 112th Congress, may you have the courage of your convictions, and convictions that are unshakeable in the face of the D.C. Machine. Stick to the Constitution, it will never steer you wrong.

For those Critters about to rock, we salute you~

January 5, 2011. Tags: , , , , , , , . Economy, Obama Administration, Politics, Popular Culture, Taxes, Unemployment Statistics, Wall St. Comments off.

What do you do for $:Fed reveals partial data on emergency lending facilities, still mum on discount window

Update: Well, it would appear absolutely EVERYONE got a bailout except the middle class. And I do mean everyone.

Zero Hedge breaks down the 35 foreign banks that the Fed bailed out here.

…$1.27 trillion in agency MBS was traded by foreign banks…

led by the $410 billion by German-based Deutsche Bank ..

…the $382 billion by the Switzerland-based Credit Suisse.

Other highlights of the disclosure include that GE among other commercial endeavors got $ from the Fed, and that the Fed has essentially been taking all the polluted assets from everyone with a pulse (again, except for the US middle class consumer/homeowner who has been lectured about ‘moral hazard’ and whose house has been foreclosed upon):

.the Federal Reserve purchased $1.25 trillion in agency MBS from all participating banks.

Goldman Sachs borrowed 84 times from Fed’s dealer facility (PDCF) from Sept. 15 to 11/26/08 for amounts ranging from $100m to $8b

Bank of America borrowed 118 times from the PDCF from Sept 18 2008 to May 2009, in amount ranging from $375 million to $11 billion.

And even CA Pension funds got in on the bail out action, per ZeroHedge:

Looking at the TALF data, we see that the biggest borrower by subscription is Calpers, with a total of about $5.4 billion

Federal Reserve data breakdown and press release here. More from WSJ here

WSJ:

…The data released Wednesday include short-term liquidity moves for financial institutions and companies made as part of the Fed’s traditional role as lender of last resort, liquidity injections directly to borrowers and investors in key credit markets and financial support for Bear Stearns Cos. and American International Group Inc. (See all the data from the Fed)

Fed officials reported details on more than 21,000 transactions from December 2007 to July 2010. The emergency programs caused the size of the Fed’s balance sheet to swell. (See a history of the Fed’s lending)…

December 1, 2010. Tags: , , , , , , , , , , , . CITI, citigroup, Economy, FDIC, Finance, Foreclosures, Housing, Obama Administration, Politics, TARP, Taxes, Unemployment Statistics, Wall St. Comments off.

Video: Mark Fisher talks QE2 ~ ‘it will end badly’

Courtesy of CNBC

More~ Mark Fisher talks commodities~

Vodpod videos no longer available.

November 9, 2010. Tags: , , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, TARP, Taxes, Unemployment Statistics, Wall St. Comments off.

« Previous PageNext Page »

%d bloggers like this: