Where can you have your bad loan losses socialized and soaked up by the public sponge? In the United States of course. The new socialist republic seems to be in full swing.

Bernanke said the Fed is considering extending its emergency loans to broker-dealers beyond 2008. We are currently monitoring developments in financial markets closely and considering several options, including extending the duration of our facilities for primary dealers beyond year-end, he said.

Ben Bernanke endorsed the idea of sweeping new regulatory power for the Fed. “Holding the Fed more formally accountable for promoting financial stability makes sense only if the institution's powers are consistent with its responsibilities.”
The public sponge, via the taxpayer and the National Dept (debts placed on the taxpayer), the U.S. is apparently going to mop up the mortgage mess and new accounting rules will not apply to Fannie Mae and Freddie Mac.
Unlike the Fed, when you write a check the money has to be in the bank. You have to make good on the check otherwise you are punished with steep fines and/or jail-time.

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Nearly everyone is looking to save money. General Motors, which is near bankruptcy levels, is getting with the program to satisfy the demand for high gas mileage cars is going to produce the Beat.

It’s about 138 inches long. The Beat is a front-wheel-drive three-door hatchback powered by a 1.2-liter turbocharged gasoline engine. The Chevy Beat gets 40 mpg. And … if gas prices keep rising, the Beat will surely be a hit.

If gasoline prices plunge, an unlikely scenario, sales may not take off. For a peak and more info, check out http://www.sportcompactcarweb.com/newsstand/sccp_0804_spin_out_updates/gm_beat.html

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Bill Gross, bond-fund super manager says that when Barack Obama becomes president (he thinks he will get elected) the budget deficit will jump through the roof … to over $1 trillion.

Bill Gross writes: “You’ve inherited an asset-based economy whose well has been pumped nearly dry with lower and lower interest rates and lender of last resort liquidity provisions that have managed to support Ponzi-style prosperity in recent years.”

Bill acknowledges that Obama inherited a mess, but with the Obama focus on higher taxes on the wealthy and oil companies and some form of universal healthcare throw into the budget the economic situation will be dire for the taxpayer. Who is going to write the checks? The taxpayer!

Obama believes in big government and big government spending programs. He is not afraid of higher taxation. Obama plans to raise the capital-gains tax for 15 percent to as much as 28 percent, allow the Bush tax cuts to expire and in effect raise the taxes on American by tens of billions.

Gross sees further deterioration in home sales and predicts home prices will be down another 10 percent or so.

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Just when you think the Federal Reserve and Bernanke and Company are playing by the rule book you discover what a foolish idea that is.

The Fed has been talking about how fighting inflation is so important. How they need to order a check on vigilance. Reality is that everyone on Wall Street has been seeing production costs and producer prices of every manufactured good and transportation issue increasing.

You can survey and check the opinion of the Main Street consumer in just about any region of the country and they’ll tell you they are getting squeezed by increased costs of everything from fuel to property taxes.

And doing a little further investigation and checking on price of imports into the U.S., we find they have gone up well over 15% in the past year. Upon further checking and investigation we find, for the most part, this overall inflation hasn’t completely hit consumers.

Not yet.

The world economy and China are increasingly dependent on oil. Competition for the basic underlying driver of inflation, oil fuel, is increasing and will not disappear.

So you would personally think that they would raise interest rates?

As long as interest rates stay as low inflation will continue to be a problem. Ben Bernanke needs to push rates higher to control the inflation we see today.

The Federal Reserve and Bernanke and Company decided to leave rates unchanged hoping for the ongoing economic slowdown to cause inflationary pressure to moderate. They could have ordered checks to stop inflation now but have decided against a rate increase.

Unfortunately, the inflation is caused by oil price pressure which are tied into every aspect of our economy and our falling dollar doesn’t help. When our dollar value drops internationally, the oil it needs to buy causes price increases.

It has nothing to do with speculators and traders. It’s all about supply and demand. There is more oil demand than supply.

We need energy alternatives and we need them fast. If Europe raises rates it will push the dollar even lower and you’ll see even higher fuel prices.

Is It NBA? Or the NFL

???????????????? ??

36 have been accused of spousal abuse

7 have been arrested for fraud

19 have been accused of writing bad checks

?

117 have directly or indirectly bankrupted at least 2 businesses

3 have done time for assault

71, repeat

?

71 cannot get a credit card due to bad credit

14 have been arrested on drug-related charges

?

8 have been arrested for shoplifting

21 currently are defendants in lawsuits, and

?

84 have been arrested for drunk driving in the last year

Can you guess which organization this is?

Give up yet? . . Scroll down,

?

?

?

?

?

?

Neither,
it's the 435 members of the

United States Congress

The same group of Idiots that crank out hundreds of new laws each year designed to keep the rest of us in line.

?

HAD ENOUGH?
"Am I the only guy in this country who's fed up with what's happening?
Where the hell is our outrage? We should be screaming bloody murder.
We've got a gang of clueless bozos steering our ship of state right over a cliff,
we've got corporate gangsters stealing us blind, and we can't even clean up
after a hurricane much less build a hybrid car. But instead of getting mad,
everyone sits around and nods their heads when the politicians say, "Stay
the course."

Stay the course? You've got to be kidding. This is America, not the damned
Titanic. I'll give you a sound bite: Throw the bums out!"

From: WHERE HAVE ALL THE LEADERS GONE
By: Lee Iacocca

The implications of the Federal Reserve rate cut were an immediate drop in the value of the dollar in overseas markets.
With a cheaper dollar overseas is that our goods sell better over there. The downside is that we pay more for commodities, foodstuff and oil product.
The dollar will not buy as much overseas as well as here, especially in light of the recent rate cut. Continued energy, food and consumer product price inflation is in the works.

The economy is sick because of getting hammered by continuous basic survival overhead expenses. At one time these expenses were insignificant. Nowadays, they are a major consideration.

Check for the presidential candidate that advocates drilling for oil where ever oil is suspected to be found using current environmental safeguards. Vote for the presidential candidate advocating nuclear energy construction. These are real solutions to our overhead problems.

We can protect the environment the best we can and still look for oil.

Looking at the intersections of our roads I see a lot of trash. Seems many people still like to crap all over the landscape despite the “clean environment” messages we hear. If education is the answer, it has failed miserably (at least from where I live.)

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