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Fiscal Cliff

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Funny political cartoon shows car falling and the driver hopes to hit the fiscal cliff

The campaign’s over, we’re 16 trillion in debt, and now our betters want to talk about avoiding the Fiscal Cliff.

Here’s Obama on the Fiscal Cliff. Here’s Boehner. Best of all, here’s Ron Paul.

In case you’re wondering just what the Fiscal Cliff is, you can go here. If you read it let me know.

The post Fiscal Cliff appeared first on Bokbluster.com.


Making a List

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Mitt Romney dropped by the White House for lunch last week. Later the president hit the campaign trail to promote tax hikes on the rich.  During a rally at the Rodon Group plant in Hatfield Pennsylvania, Obama announced he was keeping a list of naughty and nice congressmen. The Naughty or Nice List isn’t to be confused with the his Enemies List of Republican campaign donors, or his Kill List.

The post Making a List appeared first on Bokbluster.com.

Budget Baseline Camp

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121226baseline_budgeting_camp

Uncle Sam’s starting point for spending is a baseline of the previous year CBO projections for the coming year.

 “The most absurd current example is Mr. Obama’s claim that his “$4 trillion” plan reduces the deficit by about $800 billion over 10 years by ending the wars in Iraq and Afghanistan. But those “savings,” as he calls them, are measured against a White House budget office spending baseline that is fictional. Those wars are already being unwound and everyone knows the money will never be spent. But they are called “savings” to gull the public and make the deficit reduction add up to a large-sounding $4 trillion.”

 

The post Budget Baseline Camp appeared first on Bokbluster.com.

Eat the Rich

Backdoor Wall Street Bailout

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131114-fed-yellen-easy-money-backdoor-bailout-wall-streetOur magic president has appointed a new Fed chief to make more magic money.

Janet Yellen’s Senate hearing for approval to succeed Ben Bernanke began yesterday.

Backdoor Wall Street Bailout

Andrew Huszar, a former bond buyer for the Fed, wrote an interesting apology in the WSJ this week for his role in “quantitative easing”.

He says that the Fed never bought a mortgage bond in its 100 year history until he was hired in 2009 to buy $1.25 trillion of the things! In a single year. According to Huszar Bernanke spun the scheme as a plan to help Main Street but it was really “the biggest backdoor Wall Street bailout of all time”.

Chairman Ben Bernanke made clear that the Fed’s central motivation was to “affect credit conditions for households and businesses”: to drive down the cost of credit so that more Americans hurting from the tanking economy could use it to weather the downturn.

QE may have been driving down the wholesale cost for banks to make loans, but Wall Street was pocketing most of the extra cash.

The post Backdoor Wall Street Bailout appeared first on Bokbluster.com.

No Acceptable Business Case

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140404 GM Acceptable Buisness Case

 The Chevy Cobalt is being recalled because the ignition shuts off while the vehicle is running! None of the solutions to fix it represented an “acceptable business case“, according to General Motors. Thirteen people have died so far. GM warns this can be caused by too heavy a key ring.

So, as your life passes before your eyes while barreling downhill at 80mph without power, or airbags, please keep in mind… your key ring is too damn heavy.

Acceptable Business Case

On the other hand you could have kept your key ring and GM could have fixed the problem with a 57 cent part.

At least they’re not blowing your bail out money.

 

 

The post No Acceptable Business Case appeared first on Bokbluster.com.

Government Train Wreck

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150514-train-wreck

A reporter blamed the tragic Amtrak train wreck in Philadelphia on not enough government spending on infrastructure. House Speaker John Boehner said the train wrecked because it was going 106 mph in a 50 mph zone. This may be just the sort of thinking President Obama wants Boehner to change.

The post Government Train Wreck appeared first on Bokbluster.com.

Fed Up

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150824fed-c

The Fed has kept the stock market and, so it claims, the U.S. economy afloat with low interest rates. The Dow lost 1500 points in the past week. World economic growth is stuck in the mud.

And with interest rates near zero, the Fed is low on flotation devices.

If income inequality is your thing, cheer up. Jeff Bezos lost $2.6 billion on Monday. Bloomberg has the fat cat score card here.

The post Fed Up appeared first on Bokbluster.com.


Greatest National Security Threat

Yellen Takes Off Training Wheels

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151218-YellenJanet Yellen took the training wheels off the economy on Wednesday. After seven years of near zero percent interest rates, the Fed hiked rates a quarter percent.

Meanwhile, Congress passed a 2,000 page,  1.2 trillion dollar budget. That tacked another 157 billion onto the 18.5 trillion dollar national debt.

Yellen

On Friday the Dow dropped 370 points.

David Stockman says, “sell the bonds, sell the stocks, sell the house”. IBD wonders if the markets know something the Fed doesn’t.

The post Yellen Takes Off Training Wheels appeared first on Bokbluster.com.

Thrill Of Victory, Agony of Debate

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161020agony of debate

The thrill of victory was followed by the agony of debate last night.

Thrill of Victory

The Cleveland Indians won the American league pennant, shutting out the Toronto Blue Jays 3-0. Rookie Ryan Merritt went 4 1/3 scoreless innings in his second major league start.

Merritt got the nod because starting pitcher Trevor Bauer was the victim of a drone strike. A strike of his own drone. Bauer has always done things his own way, and this came as no surprise to anyone around here. So they sewed up his finger and sent him out to the mound for game three.

Bauer’s a gamer, but his sutured pinkie opened up like the elevator doors in The Shining. He never made it out of the first inning. No problem. Mad Manager Tito Franco stitched together a bullpen game and the Tribe won 4-2.

Back to Ryan Merritt, hero of Northeast Ohio. Someone found out he’s getting married, so fans bought everything on his wedding registry. But you could still get him a pillow last I checked.

Agony of Debate

Unfortunately all good things come to an an end and the final presidential debate was about to begin.

Moderator Mike Wallace asked about Supreme Court nominees. Hillary Clinton said the court should stand up for women and transgender bathrooms but not late term babies about to be aborted. She also said the court should overturn  Citizen’s United (a Supreme Court case that said it’s okay for a company to make a movie critical of Hillary).

Trump said, “The Supreme Court – it’s what it’s all about.”

The clear winner … Chris Wallace.

The post Thrill Of Victory, Agony of Debate appeared first on Bokbluster.com.

Trump’s Animal Spirits

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161205animal spirits

James Fallows, in the October Atlantic, says Jane Goodall told him that Donald Trump reminds her of a chimp:

In many ways the performances of Donald Trump remind me of male chimpanzees and their dominance rituals,” Jane Goodall, the anthropologist, told me shortly before Trump won the GOP nomination. “In order to impress rivals, males seeking to rise in the dominance hierarchy perform spectacular displays: stamping, slapping the ground, dragging branches, throwing rocks. The more vigorous and imaginative the display, the faster the individual is likely to rise in the hierarchy, and the longer he is likely to maintain that position.”

Animal Spirits

The elite made a monkey of Trump before the election. But since then he’s released the stock market’s animal spirits. Oil and the dollar dig The Donald too.

Many 401-k investors are bullish because stocks have hit record highs. But Clinton Foundation investors – not so much.

Well, at least one Clinton supporter has done ok. Warren Buffett’s Berkshire Hathaway is up 8% since the election.

 

The post Trump’s Animal Spirits appeared first on Bokbluster.com.

Eat the Rich

Backdoor Wall Street Bailout

0
0

131114-fed-yellen-easy-money-backdoor-bailout-wall-streetOur magic president has appointed a new Fed chief to make more magic money.

Janet Yellen’s Senate hearing for approval to succeed Ben Bernanke began yesterday.

Backdoor Wall Street Bailout

Andrew Huszar, a former bond buyer for the Fed, wrote an interesting apology in the WSJ this week for his role in “quantitative easing”.

He says that the Fed never bought a mortgage bond in its 100 year history until he was hired in 2009 to buy $1.25 trillion of the things! In a single year. According to Huszar Bernanke spun the scheme as a plan to help Main Street but it was really “the biggest backdoor Wall Street bailout of all time”.

Chairman Ben Bernanke made clear that the Fed’s central motivation was to “affect credit conditions for households and businesses”: to drive down the cost of credit so that more Americans hurting from the tanking economy could use it to weather the downturn.

QE may have been driving down the wholesale cost for banks to make loans, but Wall Street was pocketing most of the extra cash.

The post Backdoor Wall Street Bailout appeared first on Bokbluster.com.

No Acceptable Business Case

0
0

140404 GM Acceptable Buisness Case

 The Chevy Cobalt is being recalled because the ignition shuts off while the vehicle is running! None of the solutions to fix it represented an “acceptable business case“, according to General Motors. Thirteen people have died so far. GM warns this can be caused by too heavy a key ring.

So, as your life passes before your eyes while barreling downhill at 80mph without power, or airbags, please keep in mind… your key ring is too damn heavy.

Acceptable Business Case

On the other hand you could have kept your key ring and GM could have fixed the problem with a 57 cent part.

At least they’re not blowing your bail out money.

 

 

The post No Acceptable Business Case appeared first on Bokbluster.com.


Government Train Wreck

0
0

150514-train-wreck

A reporter blamed the tragic Amtrak train wreck in Philadelphia on not enough government spending on infrastructure. House Speaker John Boehner said the train wrecked because it was going 106 mph in a 50 mph zone. This may be just the sort of thinking President Obama wants Boehner to change.

The post Government Train Wreck appeared first on Bokbluster.com.

Fed Up

0
0

150824fed-c

The Fed has kept the stock market and, so it claims, the U.S. economy afloat with low interest rates. The Dow lost 1500 points in the past week. World economic growth is stuck in the mud.

And with interest rates near zero, the Fed is low on flotation devices.

If income inequality is your thing, cheer up. Jeff Bezos lost $2.6 billion on Monday. Bloomberg has the fat cat score card here.

The post Fed Up appeared first on Bokbluster.com.

Greatest National Security Threat

Yellen Takes Off Training Wheels

0
0

151218-YellenJanet Yellen took the training wheels off the economy on Wednesday. After seven years of near zero percent interest rates, the Fed hiked rates a quarter percent.

Meanwhile, Congress passed a 2,000 page,  1.2 trillion dollar budget. That tacked another 157 billion onto the 18.5 trillion dollar national debt.

Yellen

On Friday the Dow dropped 370 points.

David Stockman says, “sell the bonds, sell the stocks, sell the house”. IBD wonders if the markets know something the Fed doesn’t.

The post Yellen Takes Off Training Wheels appeared first on Bokbluster.com.

Thrill Of Victory, Agony of Debate

0
0

161020agony of debate

The thrill of victory was followed by the agony of debate last night.

Thrill of Victory

The Cleveland Indians won the American league pennant, shutting out the Toronto Blue Jays 3-0. Rookie Ryan Merritt went 4 1/3 scoreless innings in his second major league start.

Merritt got the nod because starting pitcher Trevor Bauer was the victim of a drone strike. A strike of his own drone. Bauer has always done things his own way, and this came as no surprise to anyone around here. So they sewed up his finger and sent him out to the mound for game three.

Bauer’s a gamer, but his sutured pinkie opened up like the elevator doors in The Shining. He never made it out of the first inning. No problem. Mad Manager Tito Franco stitched together a bullpen game and the Tribe won 4-2.

Back to Ryan Merritt, hero of Northeast Ohio. Someone found out he’s getting married, so fans bought everything on his wedding registry. But you could still get him a pillow last I checked.

Agony of Debate

Unfortunately all good things come to an an end and the final presidential debate was about to begin.

Moderator Mike Wallace asked about Supreme Court nominees. Hillary Clinton said the court should stand up for women and transgender bathrooms but not late term babies about to be aborted. She also said the court should overturn  Citizen’s United (a Supreme Court case that said it’s okay for a company to make a movie critical of Hillary).

Trump said, “The Supreme Court – it’s what it’s all about.”

The clear winner … Chris Wallace.

The post Thrill Of Victory, Agony of Debate appeared first on Bokbluster.com.

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