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Archive for December, 2008

NYT’s History Re-Write On Housing problem or

Posted by hanson807 on December 21, 2008

as most people call it, lying. Jo Becker, Sheryl Gay Stolberg and Stephen Labaton should tell us their sources or just own up to not having any and making it up. It doesn’t take much investigating to find just a few holes in their story. There is this gem of a statement: “As early as 2006, top advisers to Bush dismissed warnings from people inside and outside the White House that housing prices were inflated and that a foreclosure crisis was looming.” The problem is, persons from the Bush administration were at congressional hearings where, in 2004 Barney Frank and other senators were defending the actions of these bad lenders. We aren’t talking about hear say, we are talking about live video of the democrats supporting the lending habits of Fannie and Freddie and Franklin Raines. Each of the republicans and regulators speaking foretold of the problems we were going to face. And the democrats even said it was a 1992 housing act that was the start of this housing issue. So with irrefutable video evidence that Bill Clinton attempted to fix the problem as well but failed.

So maybe that just isn’t enough proof. But Blue Collar Muse did a little investigation too. There are actual sources that can be checked. The Sarbanes-Oxley Act of 2002 was signed into law by Bush and it was supposed to stop the kind of book keeping that Frank Raines was doing. Enron was another democrat government sponsered scheme where people lost millions. Pass laws then put your friends in control of the market. Notice that if the and only if the government gets involved, can you steal really big sums of money. Then of course we have Senator Schummer(D-New York) who actually saw these accounting practices hurting the US and suggested we ditch them and go to wise ways of foreign governments. Unfortunately, Sarbanes-Oxley_Act had begun to do its damage as it revealed that there were many companies who weren’t on the up and up. Frank Raines, Barney Frank and Chuck Schummer knew of one in particular. Barney apparently had a romance with one of the executives while he voted against legislation to regulate them. Our three reporters from the NYT failed to uncover any of that. Heck, that would require them to actually research with some cumbersome tool like google. All they attribute the failure to is Bush, so no actual fact checking is required apparently.

It takes but a short review of the articles written by all three to see their ideology. They are fairly hard left, play extremely fast and loose with facts and do a fairly poor job of reporting anything that is outside their belief system. In short, they are democrat hacks posing as journalists using the medium of the NYT to display how they fail. Of course, that passes for journalism anymore. Let’s disect a short piece on Bush and war where Sheryl Gay Stolberg tells this whooping lie: “But Mr. Bush, most experts agree, has taken the American freedom agenda to an entirely new level, by trying to foster democracy in nations that have not known it before, like Iraq and Afghanistan.” I know peoples memories are short but just to clear a few things up, Japan was not a democracy before WW II. The Nicarguan Contras were helped by the US and the first thing they did was restore the freedom of the press and have an election. So apparently, only looking at two occasions in the past, I easily found two examples of helping countries without a history of democracy establish a democracy. Of course it took like 3 minutes, why would she take three minutes to find out she is lying when she can print something that makes Bush look bad? Because having a journalism degree is like saying, “I couldn’t pass any difficult classes so I had to do something”. The fact is, they don’t want to admit their party, the democrat party, gained the most financially from the housing market debacle. They democrat party was trying to pass laws to get people who shouldn’t have house loans, loans. They protested and intimidated firms that didn’t lend money to incredibly high risk people. Currently Wells Fargo is one of only a few who can claim they didn’t get caught up in the sub-prime market. Let’s not forget Chris Dodd who got a sweet heart deal from Countrywide. It’s CEO way back in 2003 knew about the government’s hand in mortgages which stretched well before Bush was even a govenor.

In the leap to critize Bush, they have dropped all pretense in going after those who are truly responsible for the housing problem. Of course, that is because the answer is them.

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What Is Wrong With Government

Posted by hanson807 on December 18, 2008

Today we find out that Hellen Jones-Kelly has resigned from her position. She was the one who released information about “Joe the Plumber”. She made a statement: “This decision comes after a time of pause, in which I realize that I continue to be used as a political postscript, providing a distraction from urgent state priorities,”. This statement says a lot. It says that she, and those she works for, are disappointed that someone made a big deal over using government time and files to release information about a citizen. It says she doesn’t understand that her actions were completely out of line and violate the tenants of a free society. It shows she believes that her actions were not in anyway wrong, and she doesn’t understand how big a problem it truely is. She, as a government official, researched information not available to the general public and released that information based on her own political views. And to her, its just a little distracting.

This is not the first person who this has happened too. Linda Tripp was a government employee who filled out a rather lengthy security clearance, only to have portions leaked during the Bill Clinton affair. Again the problem seems to be that the officials don’t see anything wrong with doing this. Nor does the democrat party have an issue with releasing information on people they don’t like. These kind of tactics are not acceptable to a free people. They just don’t realize this or they don’t care. These people are roasted over asking the wrong question or exposing something that they want to keep hidden. By all accounts, the response from the individuals involved in the release is that they are upset that they are being bothered for doing something like this. They beleive their motives trump any rules and that the rules simply don’t apply to them.

Currently we have another fantastic example in Illinois. Blagojevich got the idea that he could act this way from somewhere. Why do these people think this way and why do we elect these idiots? I think they beleive they are now some sort of Royalty and get to set and break the rules as they see fit. Harry Reid doesn’t like the unwashed masses. Pelosi doesn’t want people making bad statements about her so she has a plan to silence dissent. Although we elect these people to run the government, they think we elected them as something more. Our government, and the officials in it need a big reminder of who works for who. If we don’t watch it, these losers will do anything and everything. We should be prosecuting that woman from Ohio and we should make sure Harry Reid or Nancy Pelosi don’t go back to Washington as an elected government official. I don’t care if they elect another democrat to fill those positions but its obvious that these people take power for granted.

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Stand around a fire and chant

Posted by hanson807 on December 16, 2008

or dance and sing to the gods. This is what Paulson and others on the hill are doing today. If you watch the stock market, it went up on his announcements. But why? Are people not losing their jobs? Are people just real sure that they will have a job? Because if the answer to those is no, the next question is tough to answer. Why do they care if the rate is cut, are they going to borrow money when they think they are going to lose their job?

For too long these guys have had the illusion that they are actually in control of the economy. They sit down and have meetings about how to make it better. They say go left and it went left and they were left with an illusion of control. Well, they said go left this time and it went right. News Flash: They aren’t really driving it. There are 300 million people in this country and they make choices as consumers. They make these choices based on some budget that matters to them. If they are afraid their budget is going to get cut, they aren’t going to borrow money, buy new cars or buy a house. That is what drives the economy. Not some little guy in an office some where. Don’t believe me, think I’m wrong? Here is an easy test. Where are you going for lunch? Who made that decision?

They remind me of the ancient shaman who danced around a fire singing for rain, when it rained they did it right and were happy. When it didn’t they stood around and wondered what they did wrong.

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What is the Bail Out?

Posted by hanson807 on December 12, 2008

Seems like a simple question. Lend the car companies money so they can continue to operate. Question is, why? According to Barney Frank its so the workers don’t starve. He says he is bothered by the lack of leadership and Bush. After all, Barney Frank lead the effort to reform lending practices. His boy friend and him lead the changes that have tanked the housing market, so why not have Barney lead the charge on tanking the car industry too? Does anyone other than me find it just a bit ironic that Bush opposed increased pollution controls because of cost? Oh wait, that was Bush I in 1990. Certainly that doesn’t apply today.

We keep hearing tails of how the Unions have trashed the auto industry. But I don’t see how paying over 2.2 billion for workers who aren’t working could possibly affect GM. The union agreed to make concessions, in 2011. Of course that doesn’t mean much. The Union contract runs out in 2011 and you can bet the negotiations will not include a drop in pay at that time. There were a few principled politicians during the debate, Claire McCaskill said she wouldn’t vote on it unless they removed a provision that was for a raise in pay for federal judges. Now I’m just sure that is the only unadvertised special in the bill.

Another part of the why question is what do the legislators know that the American people don’t? Six in 10 don’t want them bailed out. So why do more than half the politicians want it? Aren’t they supposed to represent our interests? Maybe we see if for what it is, a preservation of the UAW and not the auto industry. Maybe most people think the union has had its day, now it just hurts us. In general, it doesn’t seem like the union folk understand that the auto industry is in a real bad situation. They seem to think they shouldn’t have to take a pay cut while their factories close. They seem to have lost track of who signs their paycheck. The union may have negotiated the pay, but the car company actually has to pay. If they are bankrupt, they can’t get their wages. They don’t even want to cut their wages because of it would change their standard of living. This isn’t a new thing for American Auto workers, heck Michael Keaton stared in a movie about it, Gung ho, in 1986. So we have seen the train wreck coming. We actually packed a lunch, laid out a blanket and got a good seat. It’s like they think if they just hold out, it will get better. Actually, if they hold out it will. We won’t be reading about how they aren’t going to negotiate. There won’t be anyone left to negotiate with. The auto companies are going bankrupt.

My old adage about divorce applies here as well. Better a horrible ending, then unending horror. Let them fail. They earned it. Someone will make cars again. We will survive.

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Everyone Complains about the Weather

Posted by hanson807 on December 7, 2008

but no one does anything about it. Classic Mark Twain. Now we have “Climate Scientists” informing us although this was a cool year, we still have global warming. We have Al gore with a new advertisement attacking clean coal. Wow a total fabrication. Maybe with should go with his miracle renewables, where he mentions the clean coal as a good alternative. He talks about the unlimited energy that comes from the sun. Isn’t that special. Solar cells that don’t exist and wind mills that don’t exist are better than clean coal that doesn’t exit which is better than nuclear power which is available now as you read this.

So at the heart of the CO2 argument we have increases in CO2 concentrations in the atmosphere. Well lets look at this claim a little deeper. After all we should have the facts. Not some puesdo science from a C student in journalism from Harvard. Carbon dioxide levels in our current atmosphere are about 385 ppm. So it is nearly 0.04% or .0004 of the atmosphere. Of course some say that it has increased over the last 500,000 – 650,000 years but I’m sceptical and would like to see the air sample from 650,000 years ago. No goofy guesses based on ice core data. When you read the source papers you realize they have to make a lot of assumptions that are spacious to relate the CO2 concentration of a permiable substance like water to what the concentration was 650,000 years ago. You would have to assume that CO2 gas would not migrate through permiable ice for 650 centuries. I’m not willing to take that jump. But lets stick with the .04% for just a sec. The supposed issue is the absorbtion of black body radiation. It aborbs energy but only really in 3 energy bands and really only at lower altitudes. Wow, we could sit down and calculate the contribution or attempt to anyhow. But here is a reality check that sort of dings this entire hyphothesis. We, that means all us humans are made of carbon. All the trees are made of carbon and the grass too. That means that the black body radiation absorption would affect all of us. Then the case would be that all carbon life forms are causing global warming, just by being carbon life forms. So the more vegetation we have, the more global warming we will have. So even if we planted a ton of trees to sequistor the CO2, it will still add to global warming because the Carbon in them will absorb the black body radiation. Hmm.

Then we can talk about wind mills and how we are going to free ourselves by building more. Well gosh. How many more? Since we are currently leading the world in wind production we have a lot to live up too. Maybe we can get it close to nuclear power. Sure, last year they spent billions erecting new wind mills but collectivelly they generate less energy than they are rated for, usually 30-40 of rated so the total amount added was 2700 MW rated or 810 Mw to 1080 Mw actual output. Then they have to give Tax Credits or they aren’t affordable. A single nuclear power plant today is going to be rated for 2500 MW and it actually provides its rated output. That means they would have to triple production or about 6500 MW’s of wind mills to equal one nuclear reactor. Thats going to be attractive. Maybe we can paint stuff on the towers so they look nice because we are going to have a lot of them to look at. Biggest production wind mill is 1.5 MW, so that is 4300 plus. At 3.9 million a piece, that’s 25.4 Billion. That doesn’t even include routine maintenance. All to attempt to meet production of one nuclear plant. How much carbon will be needed to make each wind mill? Who knows but I’m sure its a big number. The C student doesn’t explain this. He should give his lecture from behind a curtain.

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Government Spending 101

Posted by hanson807 on December 5, 2008

If you want to see pure government business sense look at this last election. You want to know how the new administration is going to handle taxes and your hard earned dollars? Well they are going to spend like mad. And if they over spend and in some cases actually get into debt. Lets see. We have lawyers who have never actually run a company or had executive experience. Their idea of raising money is not creating anything, its going around begging for money. Is it any wonder that they don’t have an issue with raising your taxes and taking your money from you? They have lived their adult lives on donations and the tax payers money. Obama spent almost a billion dollars on a campaign. That is one third the amount of money raised for charity concerning Katrina. The American Cancer Society didn’t raise that much money.

That much money could not only fund solar research, it could also help fund wind energy development which they say is important. They obviously have a way to raise money to construct wind farms without tax payers money. They could actually do something they believed in. But maybe what is important to them is not them doing something they believe in, but forcing you to do something that you don’t believe in. After all, their whole life has been about taking other peoples money to accomplish their goals and gain power.

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Paulson, Still Failing to Understand Economy

Posted by hanson807 on December 4, 2008

Am I glad I never received a degree in ecomonics. Mr. Paulson continues to ponder the deck furniture configuration of the titanic economy. Try as he may, he is having trouble figuring out how to stimulate the economy. How does one make people who feel the economy is bad and their jobs aren’t secure, spend money they have to borrow? Sieta, who works for Barclay’s actually said you can’t force banks to lend to people. According to Luke Mullin’s the banks will want to lend. Who is right?

This crisis can be laid at the feet of the government interferring in bank lending already. Sure, even people on the left say its true even if they disagree. Take Mr. Gordon. He even agrees while saying saying it is not true. He skillfully writes The law imposes on the covered depositories an affirmative duty to lend throughout the areas from which they take deposits, including poor neighborhoods. The law has teeth because regulators’ ratings of banks’ CRA performance become public and inform important decisions, notably merger approvals. Studies by the Federal Reserve and Harvard’s Joint Center for Housing Studies, among others, have shown that CRA increased lending and homeownership in poor communities without undermining banks’ profitability. So, to summarize what Gordon said in a nutshell: The government did a study that said its choice was a good one. But it was its choice for sure. I beleive we can look at the current situation to figure out if the study was correct. That last line about profibility seems suspect at this point.

So we have government interference causing a problem, so the obvious answer is to have more government interference. The experts think the banks are going to cut back on lending. All the lawyers who make laws think they should lend more money. Paulson is going with the lawyers on this one. Of course, they pay his salary.

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The Failed Bailout and Why

Posted by hanson807 on December 2, 2008

Today we find one of the big 3, Ford, asking for a bail out. The question should be why? It is similar to the banking bail out failures. Why? How about we just stop for a second and ask ourselves who is in charge of the economy? Is it the government? No. They only buy so much stuff even if they do it at over priced cost. Is it the CEO’s of the large companies? Well, AIG, Meryll Lynch, Bear Stearns, and now the big 3 are going under. So they don’t control the economy. It must be more obtuse. How about this: each and every American controls his or her percentage of the economy. So we have 300 million people who control the economy. No amount of bail out will help if people feel money is tight and are reluctant to purchase a new vehicle. No bail out can take into account the consumers and whether or not they choose to buy a new vehicle. According to recent statistics, car sales of every manufactorer are down by 34%. So it will fail. So let’s just skip to the last part, save the billions of dollars and let the market decide who stays and who goes.

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The MSM Calls Mortgage Crisis Bush’s Fault

Posted by hanson807 on December 1, 2008

Mr. Apuzzo, after carefully reviewing all the information, has decided that the blame lies with the Bush administration. He must have missed the copious amount of video with the democrats that controlled the banking rules that showed Schumer, Frank and others not only defending the practices but scolding those who would question whether or not the practices were wise or safe. I guess they will attempt to revise history instead of trying to get Frank and the other democrats thrown out of office for negligence. Are we going to see the MSM working to hang this on Bush and the republicans? More than likely. The question is, what are the republicans going to do about it.

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