BloggeRhythms 4/7/2013

Continuing to mull over the new pressure on banks from the administration to extend credit to sub-standard mortgage applicants, I decided to stop treating the issue as one of the worst economic decisions ever re-created and to instead to try to figure what the incumbent’s real goal is. Because, despite the total financial incompetence and refusal to learn from their own mistakes, even Dem’s must be able to see the fiscal damage this will do to the nation.

And that can only mean that they have another hidden agenda in play here to keep sinking us economically, but for the life of me, I can’t figure it out. Because it makes absolutely no sense to keep trying to strip assets of the “rich”, while doing absolutely nothing to help the poor, whereas the labor market keeps shrinking, costs of fuel, food and housing keep rising and fairly soon now,  all that will be left is insurmountable national debt and no income. So, where’s this leading?

Whereas I have no logical answer to my own question, I can only sit here and keep trying to determine what the end game is, because none of it makes an iota of sense, except: Perhaps looking at the equation from the incumbent's perspective, the answer may simply be that he’s built the perfect life for himself.  As a practical matter he does absolutely nothing except campaign, which he seems to thrive on. He also incessantly travels to sites he likes, frequently playing golf while his family goes elsewhere by themselves at taxpayer’s expense.

So, from that point of view, both he and Hillary too, apparently carved perfect situations for themselves where neither’s ever done anything productive in their natural lives and don’t have the abilities required should they ever be needed. Consequently, it matters not a whit what goes on around them, because they’ve both taken absolute maximum care of themselves for now and the future, whatever should come to pass for anyone else.

Now, I’m still not sure my analysis is correct, although it seems to make perfect sense. So, I’m going to keep on trying to figure out what the real plan is. However, if it’s really complicated and takes a great deal of intellect or knowledge, it’s a pretty sure bet it won’t come from either of them. 

In the meanwhile, though, I Just thought I’d mention that according to Fox News on-line: “Fisker Automotive -- the electric-car maker that was granted a half-billion-dollar federal loan and on Friday dismissed about 75 percent of its remaining workforce -- is purportedly facing a lawsuit from the same firm that sued the government-funded Solyndra company.

 

Fisker laid off 160 of its roughly 210 employees Friday morning from its Anaheim, Calif., location, according to Automotive News.

 

Outten & Golden won a $3.5 million settlement in a similar case against Solyndra, according to Reuters. The solar-panel maker received $535 million in loan guarantees from the Obama administration before falling into bankruptcy in 2011.”

 

What’s even better is that “Regulatory issues and battery pack problems resulted in delays in getting the [Fisker] vehicle into the marketplace.”

 

So, what we have here is that the administration forks over a huge loan that makes no economic sense and then turns around and has its own regulators put the borrower out of business via a forced default. And what that means is, if you lived to be a zillion, it’s highly unlikely you'd be able to do anything dumber than that.

 

 

At the same time: According to Hyung-Jin Kim of the Associated Press via Drudge: “A top South Korean national security official said Sunday that North Korea may be setting the stage for a missile test or another provocative act with its warning that it soon will be unable to guarantee diplomats' safety in Pyongyang. But he added that the North's clearest objective is to extract concessions from Washington and Seoul.”

 

So, now the North Korean’s picture's becoming clearer and what we apparently have is another “Mouse That Roared.” Because it’s highly unlikely that those folks will ever attack the U.S. whereas they have nothing to gain by doing that. 

 

But since they know we no longer have any foreign policy, brains or backbone at the top, it’s highly likely that simple extortion will work. And just like we did with Fisker and Solyndra, we’ll now blindly fork over billions to almost anyone, anywhere piling us over with tons upon tons of worthless, unbridled BS. Which means that they'll  probably walk away with boatloads more of our taxpayer's bucks.

That’s it for today  folks.

Adios

BloggeRhythms 4/6/2013

It’s a little late in the game, but last night I had a revelation that must have been festering in my mind yet never really formulated till now.

 

The premise began with the fact that the incumbent’s reelection took away the chance for a new administration to begin undoing and rebuilding the horrendous damage done to the nation over the past six years. Four of those backsliding years almost totally due to inane policies, beliefs and legislation primarily wrought by the incumbent himself, and the prior two destroyed by a Democrat congress, and in particular a dunce named Nancy Pelosi.

 

However, while thinking it entirely through, I now realized that had there been a change at the helm, it would take several years to undo what’s been done in the way of destruction to the nation’s economy, foreign policy, education, the military, illegal immigration, and the disaster health care’s become in particular.

 

And during the time of rebuilding, the ousted party that caused the ruination could then not only sit on the sidelines pointing fingers at those trying to fix it, but redirect the blame toward them because the repairs were taking so long, and in that way, confuse the public.

 

But now, thanks to the majority of voters, the incumbent’s still there in the middle while the nation’s crumbling all around him in almost every aspect as noted above. And so much time's gone by to now that he can no longer point the finger at “W,” because presently every bit of the fault is in his corner.

 

So, at the moment, the really bad news for the nation is, there are still three and a half years of leadership failure to come, and one can’t even begin to guess how much more incompetence will surface. But the very, very, very good news is that by the time it’s all over, the Dem party will be unquestionably blamed for the disastrous results to the extent that they likely will be unable to ever recover and socialism in our country will finally be gone for good. So, in the end it all was extremely expensive in every imaginable way, however, very well worth the final results.

 

That’s it for today folks.

 

Adios

BloggeRhythms 4/5/2013

Today’s another in what now seems a long list of entry’s that are unequivocally proving that this admiration either has a deep-seated vendetta against people succeeding financially, or instead is in so far over its head regarding economics that it has look up to see down. 

 

According to Christopher S. Rubager, Economics Writer for the Associated Press via Drudge: The economy “added just 88,000 jobs in March, the fewest in nine months and a sharp retreat after a period of strong hiring. The slowdown may signal that the economy is heading into a weak spring.”

 

At the same time, “The Labor Department said Friday that the unemployment rate dipped to 7.6 percent, the lowest in four years, from 7.7 percent.” 

 

However, “The rate fell only because more people stopped looking for work. People who are out of work are no longer counted as unemployed once they stop looking for a job.” 

 

So, that means if you add those folks back in, the number’s probably more like 10 to 12%. Whatever the case though, the exact percentage isn’t important because all that really counts is that the economy’s still in the pits and likely to stay there until there’s a change at the top in D.C. 

 

What got me to typing today though, was that after the jobs report posted on CNBC, I spent a few minutes listening to a panel of expert economic types espousing statistics and theory focused on every conceivable angle of parsing data there is. Yet, when all was said and done, none of them really addressed the issue squarely, except for Rick Santelli, on-air editor for the CNBC Business News network from the floor of the Chicago Board of Trade. 

 

And what Mr.Santelli realizes, as do I, is that there are no complicated, convoluted, intertwining combinations of local or global happenings or events affecting our economy at all. It’s far, far simpler than that. 

 

When you add taxes, such as those recently raised on payroll, folks have less to spend. And when business costs are added, such as new health care taxes based on number of employees, hiring goes down.

 

Add  to that, other increases in predominantly Democrat states and even less gets spent, making things far worse.

 

Consequently in an economy where consumer spending accounts for 70% of the gross, the more you clip in taxes, regulations and fees, the weaker that economy gets. 

 

And the most incredible thing about it all is that our economic problems are so easy to fix. All that need be done is tax reduction, less government and regulation and production of our own oil.

 

But these Dem’s won’t do those things, because to them inane political belief is worth all of us starving for. And the way things are going now, they’re going to get their wish.

 

That's it for today folks.

 

Adios

BloggeRhythms 4/4/2013

For some time now, I've frequently included growing evidence that in almost every aspect of governance the current administration’s proving daily that its absolutely clueless.

Adding to that reality is Joe Klein's column “In The Arena,” in today's Time magazine “Swampland” section on-line.

The column’s extremely important to me because Mr. Klein is an avid Dem supporter and a solid, reliable friend of the incumbent. However, today's item is headed “Obamacare Incompetence,” and includes the following paragraphs regarding health care superstores — called exchanges, designed to induce small businesses to support Obamacare because they would be able to shop for the best deals in health care.

 

Today though, Mr. Klein points out that, “The Administration has had three years to set up these exchanges. It has failed to do so."

 

He continues that: "Certainly, the Republicans who have stood in the way of these exchanges — their own idea, by the way, born in the conservative Heritage Foundation — deserve a great deal of “credit” for the debacle. But we are now seeing weekly examples of this Administration’s inability to govern."

 

Mr. Klein concludes with: "Just a few weeks ago, I reported on the failure of the Department of Defense and Veterans Affairs to come up with a unified electronic health care records system. There has also been the studied inattention to the myriad ineffective job-training programs scattered through the bureaucracy. There have been the oblique and belated efforts to reform Head Start, a $7 billion program that a study conducted by its own bureaucracy — the Department of Health and Human Services — has found nearly worthless. The list is endless.”

 

So, here we another case where the real world’s caught up to the farce purported by Dem’s having no idea of how an economy works. But even worse, is that so many millions of folks have been harmed by their ignorance.

 

But, I guess the good news is, influential Dem’s are getting hosed too, and I assume more and more will crawl out of the woodwork and start to speak out like Mr. Klein did. I've included a link so you can read the rest of his very interesting article yourself.  http://swampland.time.com/2013/04/02/obamacare-incompetence/

 

Along the same lines, reality keeps throwing wet towels elsewhere on the Dem’s upside-down ideology by exposing it’s flaws via high profile celebrities who are getting headlines showing how the real world works.

 

Today, Kelly Phillips Erb, a  Forbes contributor, added her input in an article about Dallas Cowboy's quarterback, Tony Romo’s, recent contract extension, in which she writes that:

 

“Nonetheless, the extension makes Romo the fifth highest paid player in the NFL based purely on salary alone. But Romo has an edge: he lives in Texas. That make him, according to Americans for Tax Reform, the new highest paid NFL player after taxes. He takes the spot previously held by Drew Brees of the New Orleans Saints.

 

Who else was in the running? Baltimore Ravens quarterback Joe Flacco earned a Super Bowl ring, Pete Rozelle Trophy and a six-year, $120.6-million contract this year. That makes him the highest-paid player in NFL history. Maryland, however, has a so-called “millionaire’s tax” which imposes a higher tax on taxpayers in upper brackets. Flacco would likely be subject to a 5.75% tax on his earnings in the state of Maryland and a potential 2.75% local tax.”

So, little by little the facts keep piling up that refute Dem's economic fiction all over the nation. And, as I keep predicting, I think the day will come –because simple logic says it has to- that all the Dem’s will wind up broke, alone and worthless like always, in N.Y., L.A., Newark, Detroit and the like, looking around for where their meal tickets went. 

 

On the other hand, though, all the real producers will be in places like Texas, making occasional trips to the Caymans to visit their bucks.

That’s it for today folks.

 

Adios

BloggeRhythms 3/3/2013

I intended to remark on a column today headed “Parts of ObamaCare are starting to fray, even before full implementation.” 

 

Written by Jim Angle of Fox News.com, his information adds to my growing list of evidence that Obamacare’s imploding. However, before beginning typing, I scanned the rest of the news and had to re-read a link on Drudge four times before I believed it. Because I thought, perhaps, April Fool’s came two days late.

 

I soon found out it wasn’t a joke and that Zachary A. Goldfarb of The Washington Post on-line, actually reported that the “Obama administration pushes banks to make home loans to people with weaker credit.”

 

Apparently, “The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.

 

President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.”

 

Now, after reading the preceding, I thought back to my entry of only two days ago in which I stated that a critical concern for lenders is reviewing the history of customer performance in the past. And, in regard to home mortgages, lending to weak applicants caused the global fiscal crash we’re still working out of, eight years later. Consequently, I don’t even have words to describe the gross absence of intelligence or knowledge of those who’d willingly repeat that horrendous mistake.

 

But then I read on, and the picture got even worse. 

 

Because, in response, “administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.”

 

So, what these moronic clowns are actually saying is that they’re not worried about sub-standard mortgagees defaulting because taxpayers will bail them out. 

 

Now, on the surface, while the premise is totally wrong because as we all know, lenders are still dealing with the huge portfolios of defaulted loans, foreclosures and glut of overpriced homes on the market with owners buried in debt, what’s worse is that the government's pushing for socialism in a democracy and using this issue as another attempt to redistribute wealth.   

 

In the end though, as blatantly arrogant as the mortgage idea is, there’s still growing light at the end of the tunnel, as evidenced by my original subject for today. Because, as noted, Obamacare continues to unravel for the fraud that it is.  

 

According to Mr. Angle of Fox, “The Obama administration now says a special system of exchanges designed to make it easier for small businesses to provide insurance will be delayed an entire year -- to 2015. 

 

Lots of small businesses struggle with providing insurance for their workers so this was supposed to facilitate it and make it easier for small business to do this," said Jim Capretta of the Ethics and Public Policy Center. "It was a huge portion of the sales job. When they passed the law in 2010 there were many senators and members of Congress who were saying 'I am doing this because it's going to help small businesses.'"

 

So, here we have another attempt at socialism in the process of imploding and harming those it was sold to as beneficial, which will eventually come back to haunt those responsible. Which leads to some questions that I can’t ever find the answer for.

 

Why is it that theoreticians and believers in false causes are never dissuaded by facts? And what is is that drives people to keep walking into the same walls, over and over again despite reality? But, beyond all that, exactly how stupid do you really have to be to refuse to learn from your own mistakes?

 

That’s it for today folks.

 

Adios

BloggeRhythms 3/2/2013

Tripped over an article just now that made me stop and wonder exactly how some Dem’s minds work. provided they have them to begin with.

 

An article by Anita Kumar of McClatchy Newspapers via Drudge, headed “Democrats fear Obama group will siphon money from them,” begins by noting that some Democrats [are] wondering: Is he just in it for himself? 

And that’s because apparently he’s decided to launch his own political organization, Organizing for Action.

The concern some Dem’s have stems from the fact that the organization will “focus on his policy agenda – not on electing Democratic candidates – by raising unlimited amounts of cash and accessing the president’s secret list of 20 million supporters, volunteers and donors.”

Ms. Kumar explains that “In its first two months, Organizing for Action held hundreds of events across the nation, started raising money and blasted out emails to supporters focused on the president’s top issues: curbing gun violence, fighting climate change, overhauling the immigration system and solving the nation’s fiscal problems through a mixture of tax revisions or increases and budget cuts.”

Now, from my perspective, I think if these Dem’s stopped knee-jerk reacting and gave the subject some thought they’d realize nothing has changed an iota. Because from square one, all the way back to the beginning, the incumbents’ never cared a whit for anyone else but himself and pushing the agendas of wherever his buck’s came from, such as leftist and environmentalist lobbies and foreign oil suppliers like Soros and those in the Middle-East. 

“Curbing gun violence” is a joke, waste of time and carloads of hot air and BS. What’s more, more than half the country now owning guns have one more reason to abhor him, and the number’s growing as more and more folks realize his attempts to take away their self-protection rights are not only unconstitutional, it makes them powerless against those who  might wish to harm them.

As far as climate change goes, it doesn’t even exist, which is why fewer folks pay any attention to the subject as each day goes by. Except for those living in what’s supposed to be Spring now in the U.S. and are freezing their tails off because if there really is change, it’s toward the cold side of the equation.

And then, as far as the last subject goes, “solving the nation’s fiscal problems through a mixture of tax revisions or increases and budget cuts,” I don’t even know where to start typing. Because, fiscal-wise, the incumbent’s the absolute worst there’s ever been in office and has run up the biggest debt in history with no plan for solution. They simply don’t come any less skillful.

So, to sum it all up. The reason that POTUS gets all the attention he does is because, somehow or other, he got elected to the office. And while he’s in it, the power, prestige and influence attached to the position gravitate to him. However, once that’s over, he’s just another guy with an agenda and, perhaps some funding as well. But, as far as that agenda goes, and in this case the issues are ridiculous, I doubt too many folks will care an iota. 

 

But, if you want to get a better idea of what folks think of former incumbents with worthless issues, goals and beliefs, ask Jimmy Carter, if you can find him. Because nobody really knows or cares where he now is.

That’s it for today folks.

Adios

BloggeRhythms 4/1/2013

From the outside looking in, commercial finance seems quite a complex business, and when it comes to highly structured transactions and loans, it is. However, the fundamentals of lending of any kind are basically simple, and not much more than everyday common sense.

In that regard, any lender’s primary concern regarding any type of loan or advance is the borrower’s ability to pay them back as agreed and on time. Consequently, the first step in any type of financial transaction is for the lender to determine the borrower’s current and projected financial condition.

To that extent, most experienced lender’s will use the borrower’s financial history as a gauge for determining how that entity has managed similar types of  obligations in the past. And additionally, reference sources such as credit rating agencies, other creditors and perhaps even trade relations will be consulted regarding the borrower’s past payment performance.

In addition, another determinant of likely future behavior or potential occurrences can be gleaned from comparison to other cases having similar characteristics or approximate circumstances. And that’s the factor that set me to typing today because there’s now this situation in Cyprus where the nation’s gone broke, can’t meet its obligations and as a result, attaching the bank accounts of its citizens to help borrow money from the EU to bail the country out.

According to BBC News Europe, “A 10bn-euro bailout from the EU and IMF - required to keep the debt-laden Cypriot economy afloat - will only be granted if Cyprus itself raises 5.8bn euros, most of which looks likely to come from depositors with more than 100,000 euros in Bank of Cyprus and Laiki (Popular Bank).”

So, using today’s examples of lending basics: What does the Cyprus financial debacle tell us?

Simply stated, I believe what we’re seeing in Cyprus is precisely the same thing that’s happening here. The only difference is the size of our nations. However, in both cases, there are folks in leadership who either completely ignored the potential consequences of unbridled debt for personal/political purposes or are too ignorant to understand the perils of the financial situation. But, either way, the citizenry loses because of them.

Therefore, as I previously suggested, a degree in finance isn’t needed, nor is any kind of magical crystal ball to project our financial future, which is worse than dismal. And if things keep going as they are, it might be wise to start hording fungible assets somewhere hidden and safe right now.

That's it for today folks.

Adios