In a Time of Universal Deceit, Telling the Truth is Revolutionary.
Saturday, July 13, 2024

Obscene Non-Profits

You will recall a month or so ago, when Exxon reported profits in the tens of billions, much of the political left was outraged. How dare these malefactors of great wealth make profits during times of horrendous price increases in gasoline!

Observe that, in exchange for the money, Exxon (and other oil companies) at least offered something in return: gasoline and other petroleum products.

Now, let’s fast-forward to today, when the federal government is handing out 700 billion dollars in loot to its fellow pirates on Wall Street.

What is Wall Street offering in exchange for the loot? Gasoline? Food? Anything of value?

Nope. Wall Street firms get loads of cash, with no accountability. No questions asked. No need to produce anything of value. Just gimme the cash, Bub.

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The costs so far $7.76 trillion

A bail-out here, a bail-out there, it seems everytime we turn around, some company has found a way to get the government to bail them out of their financial troubles. They are either too big to fail, or too intertwined into the financial system, or have too many employees, so we are told we can’t allow them to fold and restructure under bankruptcy.

Thus far, the government has pledged or already lent out $7.76 trillion dollars. That’s the equivalent to $24,000 for every man, woman and child in the country. That’s right folks. That $600 dollars you received at the beginning of the year was great. So they turned around and added $24,000 debt not just to you, but your spouse and kids as well. Thanks big government corptocracy!

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Folks seem obsessed with false analogies

If there’s one thing that’s bothering me these days, and of course there are far more, it’s the fuss being made by some folks about President-elect Obama’s appointments.

Recycled Clintonites, they say.

Change? What change, they ask.

Well, aside from the fact that appointing illiterate deaf-mutes would be an improvement over the current administration, I would have thought most Democrats figured the years 1993-2001 were pretty good on balance.

We had peace, we had prosperity and if you throw out Bill Clinton’s, ah, appetites, we had a very competent government.

So I’ve got no problem with bringing in people who know where the bodies are buried, so to speak, and even some of the more controversial cases like Hillary Clinton can’t be judged strictly in terms of those years.

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Obama wants quick economic action

With the economy in crisis, President-elect Barack Obama called on the new Congress to act quickly in passing a costly stimulus package to create jobs as a follow-up to the hundreds of billions of dollars the Bush administration has committed to rescue financial markets.

"The economy is likely to get worse before it gets better," Obama said Monday in a downbeat forecast, delivered 57 days before he takes the oath of office and with Americans heading into the year-end holiday season.

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President-Elect Barack Obama Announces Economic Team

SPEAKERS: PRESIDENT-ELECT BARACK OBAMA VICE PRESIDENT-ELECT JOSEPH R. BIDEN JR. [*] OBAMA: The news this past week, including this morning’s news about Citigroup, has made it even more clear that we are facing an economic crisis of historic proportions. Our financial markets are under stress….

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Millions unknowingly taking unapproved meds

Millions unknowingly taking unapproved meds

Millions of private patients are taking medications that have never been reviewed by the government for safety and effectiveness, an Associated Press investigation found. And taxpayers have shelled out at least $200 million since 2004 for the unapproved medications that are still covered under Medicaid, according to the AP’s analysis of federal data has found.

The availability of unapproved prescription drugs to the public may create a dangerous false sense of security. Dozens of deaths have been linked to them.

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Old Lt. Gen. Chuck Pitman fake email devolves to include Obama

In 2005 a letter of “apology” proposed for the Arab world and attributed retired Marine Corps. Lieutenant General Chuck Pitman was circulated so widely by email that a search on Google turns up over 40,000 entries, mostly on Internet message boards. I just received a copy of this from someone I hadn’t heard from since high school. I checked and discovered that letter was revealed to be a fraud by the websites Snopes and Truth or Fiction. That didn’t stop right wingers from adding virulent attacks against Obama and Democrats to the original, some since his election, and continue it on its email journey.

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Nate Silver at 538 is projecting Franken to win by 27 votes.

Nate was pretty accurate on the rest of the elections, but I’m not sure he’s got it here. Last I looked, Coleman was ahead with about 70% of the votes counted and the challenges not being considered for several days. I wonder what he knows that the Minnesota papers and Public TV don’t.

His math is laid out in the article and it is quite complex… for a non-math guy like me it seems like magic.

If Nate hits it on the mark, watch Coleman take it to court.

You can read his article here.

Under The LobsterScope

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Obama set to unveil economic team

Eager to calm economic anxieties, President-elect Barack Obama is rolling out an economic vision that will require congressional cooperation even before he settles into his new desk in the White House’s Oval Office.

Obama will introduce his new economic leadership team Monday, a key step toward enacting a huge new economic recovery plan that aims to save or create 2.5 million jobs over the next two years.

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Feds ante up another bailout

Rushing to rescue Citigroup, the government agreed to shoulder hundreds of billions of possible losses at the stricken bank and to plow a fresh $20 billion into the company.

Regulators hope the dramatic action will bolster badly shaken confidence in the once mighty banking giant as well as the nation’s financial system, a goal that so far has been elusive despite a flurry of government interventions to battle the worst global crisis since the 1930s.

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