Coming To A Desperate, Cash-Strapped Government Near You?

September 7, 2013

Let’s see that could be Spain, Portugal, Greece or India or Japan, actually any number of governments around the globe. Why it could even be the good ole USA. It could be any of many countries who have tried to spend their way out of this long, long depression but it was Poland –this time.

From Zero Hedge:  Poland Confiscates Half of Private Pension Funds to “Cut” Sovereign Debt Load.

US jobs numbers came out this yesterday and the unemployment rate dropped a tenth of a percent. Big whoop. Never mind the unemployment rate, the labor participation rate is at the lowest point in 35 years! As Rick Santelli says,

“these people are not buying cars, or houses they’re existing on entitlements or welfare, but you can’t hide them forever!”

Remember the promise of the stimulus package way back in Feb of 2009? Let us spend all this money ($787 Billion) and we’ll quickly jump-start the economy and save between 900,000 to 2.3 million jobs.

Between 2008-2010 there was Qualitative Easing (the Federal Reserve buying $800 billion in bank debt from its member banks)monopoly-money

and then QE2 (more of the same, which had the same effect as printing money; $600 billion this time)

and then Operation Twist in which the FED exchanged expiring short-term notes for long-term notes (kicking the can) and stepped up buying MBSs or mortgage-backed securities (more bad debt from banks)

and then QE3 in which the FED agreed to buy $40 billion in MBSs and $45 billion per month until either jobs improved substantially

and now QE4, just an extension of QW3 but only until unemployment dropped below 6.5% (todays number was 7.3%)

How far away is the United States from private pension confiscation? Why start a war? Because it’s a great distraction and it’s good for the economy.

Aloha, Mikie ~just a blogger (fightin’ like a girl)

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Loreal or Lady Clairol?

August 18, 2009

How out of touch is this guy? Our beloved Senator from the 50th State, Daniel K. Inouye is quoted in the paper this morning while speaking to the Kona Kohala Chamber of Commerce and the Rotary Club of Kona, that Americans need to spend more, adding, “People may think saving their money is the best financial bet, but, the senator said, “the money saved may cost workers their jobs” -unless they’re in the Union (my annotation, hee-hee). And as an aside by the way, he said:

“It may please you or it may not please you, I’m the No. 1 earmarks guy in the U.S. Congress.”

Uh, hello . . . isn’t that kind of thinking responsible for how we got in this mess to begin with? Definitely it is, and I think it’s about time, no make that way overdue for him to retire. And not just because he’s 85 years old and been in Congress for 47 years!

Loreal or Lady Clairol?

Loreal or Lady Clairol?

Here are some of his recent and past votes in Congress:

  • Voted YES for original Stimulus Package under Bush
  • Voted YES for all Bailouts so far
  • Voted YES for extending funding for the Cash for Clunkers program
  • Voted YES for the 2009 Economic Spending bill
  • Voted YES for the 2nd Economic Spending bill
  • Voted NO requiring reinforced border fencing
  • Voted YES in confirming Timothy ‘the tax cheat’ Geithner as Treasury Secretary
  • Is all over in favor of huge government health-care take over

Is the kind of behavior your own family or a small business displays in these tough times when so many are broke or out of work or furloughed or cut back in hours? Of course not! It’s time more of us and especially our elected officials started to live within our means. IF THERE WAS EVER A CASE FOR TERM LIMITS – HE IS IT!

That’s it for now!
Aloha, “Mikie”
email:  Mike@MikeSells.com
Now Get Off Your Butts!
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