Today, at 9:30 Eastern, the House of Representatives Financial Services Committee held a hearing with United States Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke over the status of the multi-billion dollar bailout. The House Democrats questioned the decision to give AIG $40 billion more and whether to use part of the remaining funds to help stem foreclosures instead of injecting the money, as the bill was written, in to the banks to help unfreeze the credit market. The debate was pretty heated at times with Barney Frank interrupting Secretary Paulson mid-sentence on several occasions. I'm glad that someone is pressuring Paulson and Bernanke, but this was a bit rude imho.

As you may well know, my approach would utilize more of the Free Market theory, but I do understand that it was not the Free Market that got us here in the first place. This makes it very hard for the Free Market to correct itself without hurting MANY people and companies in the process. Unfortunately the current bailouts and stimulus plans are only prolonging the hurt just as they did during the Great Depression.

I am a bit uncertain of the conditions in which the House Democrats wish to use the money to stem foreclosures, but I did hear Barney Frank mention reducing the mortgage value (lowering the amount owed on the mortgage) or issuing new mortgages with lower interest rates.

I'm confused...
Weren't artificially low interest rates partially to blame for getting us in to this mess? So let me get this straight; we are correcting the current excess lending problems by injecting more money in to the banks to be leant out by the same people that got us in to this mess in the first place?

Like I said, I could be confused, and could be completely misunderstanding Mr. Frank, but this just seems to be disastrous. If this is the case, I regret being fiscally responsible in my decision to not purchase a home the past few years seeing that Big Brother may bail ME out.

When Jesus Obama takes the wheel everyone will line up for a little government bailout, but is this the true salvation? NO, this is called Tax and Spend economics. YOU will be taxed, and THEY will be spending. This is not good for our market, nor our freedoms, nor our country as a whole. When the government bails out, they essentially own a part of that company/industry. I'm not trying to become a conspirator, but I HAVE read 1984. When government is given a little power, in times of a crisis, it rarely gives that power back. Remember 9-11? I'd love for each of you to take a picture of your smiling mugs the next time you are going through security at the airport. [/sarcasm]

The world was astonished at Washington's self-removal from the national stage. When King George III was told in 1783 that Washington declined further power and wanted only to return to his farm, he declared, "If Washington does that, he will be the greatest man in the world." Washington returned to his farm. Washington would have been astonished that we have developed a governmental system where people are politicians as a lifetime occupation and profit handsomely thereby.

What Would the Founders Do? - Richard Brookhiser

This crisis is only a little different than 9-11, with respect to the economy. After 9-11 there was MUCH hope that the economy would rebound because it was a terrorist attack that caused the sudden drop. Now it is of our own doing. The difference is the amount of [consumer] confidence now vs. then. People had a positive savings rate in 2001, which is not the case in 2008.

http://mwhodges.home.att.net/family_a.htm

With less savings, of course, comes less confidence. People [should] become tighter with their money, but this just doesn't seem to be the case.

http://mwhodges.home.att.net/family_a.htm

This is simply amazing. We are no better than our Federal Government!!! I don't understand how we expect to continue to be the most free and prosperous people/nation in the world when we are addicted to CREDIT!

This ties back to my original point about reducing the mortgages of all the people that are about to foreclose their homes. Yes, I have a heart, and I also understand that part of these people have lost their jobs because the economy has forced them to lose their jobs, but let's not forget about all the people that were falsely approved for home loans because of the Community Reinvestment Act. It is neither mine, yours, or the Federal Governments responsibility to bail you out of a house payment that you cannot afford. This is simple Free Market law. Bankruptcies are a part of the Free Market, and are in place for situation just like this. [/rant]

Of course Dr. Ron Paul is on the Finance Committee, and here is what he had to say to Paulson and Bernanke.

Stay Fresh.

I have seen the movie I.O.U.S.A twice now, and have come away completely blown away each time. This is a shortened version of the movie which you can watch for FREE! The play time is ~30 mintues, but I promise that it will be time well spent!

I'm just not sure how all of these people that believe in "Change" and "Yes We Can" expect us to get out of the upcoming depression. Here are some real facts for ya:

WAIT?! What?! Tax INCREASES? But but but...that doesn't make any sense. I thought that the Government was gonna jump in and save everybody?! Oh, that's right...we have to PAY for all of these things that the Government promises. I think that too many "people" forget this. You know that the government doesn't have any money...it all belongs to YOU.

It looks like Arnold has a grasp on reality...I wonder when the Sheeple will join him. If you have budget issues, there are 3 things that you can do:

1. Raise Taxes
2. Cut Spending
3. Print more money (happens all too often)

Seeing that State's aren't allowed to print/coin money, they will have to rely (mostly) on #1 and #2, but don't be fooled, option #3 is not off the table. Crank up your little $$$ printing presses....

I hope your Depression is full of change.

my $0.02 worth of change,
Cynical Desh

Please watch this and see what a true patriot, statesmen and honest politician sounds like. Now, ask yourself....why wasn't I more informed a year ago? Feel free to comment on what you agree/disagree with. Just listen to the truth. Yes, I know that you may think that I'm beating dead horse...but I didn't make you visit my site

Pat, I’d like to solve the puzzle…..Bob Barr!! Ding Ding Ding, we have a winner!!!

Here we go:

“Vote for McCain or Obama, because one of them will win”

“Voting for 3rd party is like voting for Donald Duck”

“You are wasting your vote”

I’ve heard all of the “reasons” to not vote for a 3rd party candidate, and each time I simply and politely ignore them. It just amazes me how so many people that I speak with mention something along the lines of a “wasted” vote. The only “wasted vote” is the person that blindly votes their party ticket.

1. Voting a straight party tickets “just b-coz".

Not only is this ridiculous, but it goes against everything that makes this nation a Republic Democracy. Please see Democracy vs Republic to understand why I crossed out Republic. It’s not supposed to be an “US” vs “THEM” mentality to keep this [once] great nation in the #1 global position, but the “WE” mentality to work together to solve tough issues like oil dependency, the environment, and a slew of other issues that just get talked about with the current bi-partisan form of government. It’s this “Oooooh, look what WE did” and “OMG can you believe what THEY did” attitude that is destroying our global position and our nation as we know it. This era of complete voter ignorance to important matters will cause much dismay in the future. When will we open our eyes and realize that we have been jumping through enough hoops, followed enough laser pointers around and been taken advantage of for LONG ENOUGH? When politicians speak about non-partisan politics they treat it like it’s a miracle from God or something. What’s really going on is people, citizens of the US no different than you are I, with varying view points, are discussing matters that HAVE to be discussed because they impact the greater of us. It’s the difference in view points, or at least the potential for difference, that makes us what we are…..A Great Nation. It’s simply amazing the clown-show that they put on to make you, the under-educated voter, feel like you belong to something. They are only giving you a name that supposedly defines your political stances by telling you what to believe in (granted you DO have a small list of issues that are important to you)and by creating a separation from the “other” party. Not only do the issues help shape you, but also the oppression of the other side. This is a tactic used by every army in the world. Why do you think that men must shave their heads upon entering the US military? Of course it’s to give them the “united” feeling, and also helps to establish who they are, as a unit but not as an individual. When you define who your opponent is, you also define what/who you are NOT. This is VERY dangerous because your definition of your opponent could be mislead, and therefore so is your own self definition. Be an individual and create your own opinions. Research all of the candidates for 2012, and find the one that you agree with, and not what the News stations constantly tell you about.

This reminds me of a good quote:

Your vote isn’t a bet on who’s going to win the election. It’s a statement of who you are. –Unknown

It sure seems to be the “Donkeys vs Elephants” these days, where lapel pins, ex-pastors, acquaintances from 20+ years ago, $150,000 wardrobes and bridges to nowhere seem to take the cake. Do you people not see what’s going on? They have made a real life reality show of this political shit and you are eating it up! I get a sick taste in my mouth when I hear the Main Stream Media’s correspondents blabber on about this or that with respect to McBama or O’Cain. Dodging the issues is good for the political parties, because the more you are in the dark, the more power they have not only over the issues, but also over you. They are there to represent you…..aren’t they?

Let’s get down to brass tacks. They (Obama and McCain) are not much different. I know what you are thinking…"OMG they are SOO different! One is a Democrat and the other is a Republican. They are like Day and Night, Hot and Cold, Sun and Moon". Maybe you should actually read about their “differences” and allow yourself to make a logical, and informed conclusion about both of them.

I have digressed, and I hope that you are still reading!

2. “Always vote for principle, though you may vote alone, and you may cherish the sweetest reflection that your vote is never lost.” – John Quincy Adams

This is the “meat and potatoes” of my argument. So, you agree with what Obama/McCain says about a particular issue…fine. You have the right to your own opinion, and as long as you have factual reasoning behind your vote then you are doing your civic duty, and most of this blog is not speaking to you. The problem is that alot of people simply DO NOT VOTE for a 3rd party candidate because he’s “not going to win". This is so stupid. Do you think that the Reps and Dems have been in control forever? How did they get to power? There must have been a group of people that didn’t approve of the current establishment, no? If you don’t approve of either of the mainstream candidates, expand your horizons, look outside of the box, [insert another cliche here] and vote 3rd party!

The facts are that you probably can’t name more than 3 people that are running for the Presidency, and that is VERY sad. The 3rd party candidates listen to more of their constitutes, and their entire campaign is typically a grass roots movement. This is true democracy when the people donate their free time, money and hard work to a candidate that they truly believe in, and do not receive the endorsements of big business ($$) the media (free advertisement) or high ranking government officials (the good ole’ boys). I experienced this first hand when painting HUNDREDS of Ron Paul 2008 signs and distributing them throughout Raleigh in 2007. What an experience!

If you always vote with your principle then you have nothing to be ashamed of. If you merely vote for the “lesser of the two evils", you are putting someone in office that you consider EVIL, or at least not fit to run the country. There is a fundamental error when this happens.

Let’s forget about the presidency for a moment. On a more local level, make sure that you are educated about your Senators, Representatives and Governor. These are VERY important positions that actually affect you much more closely than the president will. It’s typically much harder to learn about these positions, because the MSM does not pay attn to them for the shear fact that there is not enough time. Local news may publish stories about the local candidates, and you should read these, but remember that most news sources are pretty openly biased and end up endorsing one of the candidates. Do you think that you can trust “Fair and Balanced” news coverage with a company that has an agenda? How do I know they have an agenda, you ask? Why else would they endorse a candidate in the first place?! Aren’t they in the business of giving us the news, or are they simply trying to tell us how to think? Get most of your news online or though other sources. If you can control the media, you control the minds of the public. Everything else is simple:

Levels of brain activity are measured by an electroencenograph (EEG) machine. While watching television, the brain appears to slow to a halt, registering low alpha wave readings on the EEG. This is caused by the radiant light produced by cathode ray technology within the television set. Even if you’re reading text on a television screen the brain registers low levels of activity. Once again, regardless of the content being presented, television essentially turns off your nervous system. -FamilyResource.com

Your brain halts!! No wonder I don’t subscribe to cable! You now understand why advertisements are BIG business. You brain is not thinking and is just accepting forced thought.

Hopefully I have shed a little light on educated voting, and hopefully you will at least look at the 3rd party candidates during the next election cycle before casting your vote for the lesser of 2 evils.

Here are a few quotes that I like:

“The tree of liberty must be refreshed from time to time with the blood of patriots".
-Thomas Jefferson

“It is the first responsibility of every citizen to question authority”
-Benjamin Franklin

“It is the duty of the Patriot to protect his country from the government”
-Thomas Paine

“When the people fear their government, there is tyranny; when the government fears the people, there is liberty.”
-Thomas Jefferson

This year I stayed in Raleigh for Halloween, whereas last year Zane and I may have had a bit TOO much fun in Greenville. This was not b/c Greenville is a fun place, but b/c we brought the party to that shitty little city.

Anyways, Zane, Amanda and I went down town Raleigh (south Gleenwood Ave) and partied it up at Bogart's, Red Room and Hi-5. It was a pretty good deal and only cost $5 for entry in to all 3 bars.

Costumes:

Desh = Frylock

Zane = Ninja Turtle

Amanda = Rainbow Brite

The coolest costume was from the video game "Gears of War" by EPIC games of Cary, NC.

I personally like the 2 guys in the background in this pic:

Nice fro. Bad teef!

Anyways, many more pictures are located on my Picasa page. Enjoy!

I don't understand why it is so hard to comprehend the fact that creating more money will not solve the current economic issues. Do you understand that these Bailout packages simply increase the national debt? What would happen if you simply printed more money via your home computer and printer...would you be able to retire from your job and live the lifestyle that you wish? Would you be able to pay off your car/house/credit cards? No, it's illegal and you would be arrested, but this is simply what our government is trying to do in order to pull us out of the current Recession. If creating more debt, in other words creating more money out of thin air, was the solution to our problems then we would all have little printing presses in our homes and everyone would drive sports cars and live in mansions. People, it's no different on the national level. Our country is now OVER 10 TRILLION......

in debt. This is a number too big to truly understand. The National Debt clock in New York has had to be replaced because it ran out of digits!

Congress is now thinking about passing ANOTHER (a 3rd) stimulus package.....simply amazing. This will add to the current debt and our little printers will just keep churning away. What would happen if you kept taking out loans to pay for your current loans, but you only paid the minimum on the new loan? I'm already beating a dead horse.

Perhaps all these big words and numbers confuse you. How about we simplify it down to something more on your level....cookies. Even the fattest American should be able to understand the budget when it is condensed down to comparing cookies. Enough from me, here's Ben Cohen, from Ben and Jerry's Ice Cream, to help you out.

What does Ron Paul think about this crisis?

With news this week that Congress is poised to consider a new stimulus package, I am forced to again ask a question that seems silly in Washington: How will we pay for this?

While a few Members of Congress have raised the issue, it certainly was not the primary concern of the House Budget Committee when they interviewed Ben Bernanke on Monday. And, when they did direct this question to the Chairman of the Federal Reserve, his answer was the standard rhetoric about how Congress needed to make tough choices. Needless to say, not many specifics were discussed.

One of the most liberal members of the House, Barney Frank, has at least volunteered something of a suggestion: “We can let Iraq take care of itself.” This, of course, goes in the right direction, but hardly far enough.

We need to declare the facts and their obvious consequences. The deficit of the United States is now spiraling out of control, and the recent bailout package has only made it worse. Our crushing federal debt is one key reason behind our current economic turbulence.

As Congress begins to consider the third “stimulus package” of the year, we need to realize it is time to start setting priorities. Priority number one should be cutting spending in foreign countries. This does not simply mean Iraq, but everywhere.

The next stimulus package is likely to include money for infrastructure. While these investments are, constitutionally speaking, supposed to be made by state and local governments, it is not likely that Congress will suddenly begin to pay heed to the document we are all sworn to uphold. Still, we need to acknowledge the fact that the current Congress and Administration are rushing the nation toward bankruptcy.

This being the case, we could hope they would at least come to their senses regarding our debt and foreign spending sprees. Our nation’s foreign-held debt is at record highs and moving ever higher. Continuing to borrow money from Red China and others in order to pay “dues” to the United Nations and run “Plan Colombia” makes no sense at all.

Our whole carrot-and-stick approach to foreign policy makes no sense. The US government simultaneously gives money to Israel, and to Egypt. We send AIDS money to Africa while AIDS clinics in America shut down. “Millennium challenge” funding goes to countries which enact “market based reforms” as we push our own country further and further into a centrally planned economy.

Economic recovery will only come through financial prudence, savings and getting back to producing things of value again. But it seems to be a foregone conclusion that we are about to enact another government initiative to “stimulate the economy.” Instead, there should be some serious talk about cutting all of these foreign giveaway programs. But, alas and again, we should not hold our breath. Congress is still not close to being serious about ending its addiction to debt and spending, and is again faced with the deadly temptation to attempt to spend us out of a recession. We should not forget that in the 1930’s those types of efforts gave us the Great Depression.

-Ron Paul

"Always vote for principle, though you may vote alone, and you may cherish the sweetest reflection that your vote is never lost." - John Adams

Proudly wearing his Ron Paul for President 2008 shirt,
Desh

HA!

Please take some time and watch the 1993 ESPY awards featuring the late Jimmy V. What a great speech, thank you.

I was only Digg.com today and saw an article that questions the intent of some kids shows, and I am simply flabbergasted at one called "Rainbow" from the UK. Please watch in its entirety and listen very closely. This amount of doublespeak would make Orwell proud!

Simply amazing, no?

UPDATE: Turns out this was an actual kid's show in the UK, but this was an Adult version of the show for the office Christmas tape. Either way, it's still hilarious.