moonlightcowboy's WunderBlog

Car Bailout Money - Votes not there!

By: moonlightcowboy, 3:35 AM GMT on November 26, 2008

Reid: Votes lacking to use bailout fund

WASHINGTON — Imperiled automakers and their union worked today to sell a skeptical Congress on a $34-billion aid plan, promising labor concessions and restructuring, but Senate Majority Leader Harry Reid said there still aren’t enough votes to tap the $700-billion federal bailout fund to prop up the foundering companies.

If Congress doesn't give them the $25 billion, then it's hell's bells for car manufacturers. Chrysler and GM will fade fast into bankruptcy. Ford isn't Found On Road Dead yet, but likely only a few months or so behind. OR if Congress does give them the $25 billion, it only prolongs the agony and the death will come but only a bit slower - limited life support for the terminally ill. It's inevitable!


Is it the "boneyard" for the Motown 3?


Mean Street: How Congress Will Kill Detroit
If the Big Three automakers follow the instructions of House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid, they will unveil on Tuesday “credible” plans that “result in a viable industry.” But there is actually little chance of the Big Three presenting Congress with any “credible” plans. A reborn Detroit requires a radical, harsh restructuring for which neither Detroit nor Washington really has the appetite.

Automakers' debt may be obstacle to federal loans

DETROIT (AP) -- They'll park some corporate jets, cut executive pay and serve up concessions from the United Auto Workers, but Ford Motor Co., General Motors Corp., and perhaps Chrysler LLC also will have to address massive debts to persuade a skeptical Congress to loan them money. GM alone spent $847 million on debt payments in the first nine months of the year.

Automakers argue that bankruptcy isn't an option, maintaining that no one will buy a car from a company that may not be around for the life of the vehicle. With sales at their lowest point in 25 years and no other options to borrow more cash, GM and Chrysler say government help is essential.

Cash stockpiles at GM and Chrysler are dangerously close to the minimum amount required to run the company, meaning they could have trouble paying all their bills by the end of the year. Ford, although burning cash at an alarming rate, borrowed more than $20 billion last year and says it can last at least through 2010.



So, to date, within just a few months the FED has injected (that we are aware of) nearly $1,500,000,000,000 into the paper-pushing industries of America and beyond. Only about $25 billion has already actually gone towards the prospect of helping a manufacturer - the Motown Three. Now, before we go further, let me say that I am totally against government bailouts of any kind - period! I'm against helping GM, Ford and Chrysler with bailouts in light of their current business model. However, if and when they do indeed change their business model, shed the ridiculous UAW agenda and finally put a cognizant-workable plan together for the future, then I'll be in front of the cheerleading line for taxpayers to help them out, especially GM and Ford (not so much Chrysler because it's privately held).

Now, let's consider the difference: $25 billion to a "producing manufacturer" vs. $1.5 trillion to perpetuating paper pushers? I'll take the manufacturers any day! Wouldn't have $1.5 trillion gone a long way to paying for all the mortgages and new cars for people through some voucher system? The government wants consumers to spend, right? As it is now, there really hasn't been much mortgage help either. And, certainly no one is talking of giving families a voucher for a new Chevy or Ford! I mean wouldn't car vouchers help GM and Ford sell cars? Wouldn't that help consumer spending, if indeed "consumer spending" is our problem as the FED has suggested?

We'd better get our road atlas out and find a better route! Otherwise, the "ride" we take is likely much closer to being our last!



The FED may just be printing this money, but it is YOU the taxpayer who is obligated to repay it! Last week, the FED (unquestioned by the MSM) decided to introduce another whopping $800,000,000,000 of cash injection into credit markets for the purpose of making it easier to get home mortgages, car loans and credit cards. Money down the drain apparently. They're throwing everything but the kitchen sink at this and nothing is sticking! It's money gone. Money that taxpayers will have to repay.

The FED cited the lack of "consumer spending" was what was hurting the economy. Oh, really! Now, that's where I draw the line. While consumer spending may be down significantly (I know mine is) surely it wouldn't have anything to do with the FED's earlier moves of lowering interest rates, loosening credit requirements, encouraging weak home loans and facilitating enormous credit card and student loan debts. And, now they they're repeating those same mistakes.

Government NEVER gets it, E V E R! Their "save all, end all" approach is to always throw more money at a problem - never really solving anything, but in fact, making matters worse. They repeat this mistake over and over, yet they never ever see any positive results. Why? Because printed money backed by debt for debt to promote consumer debt is not the answer to growing our economy. Building more homes hasn't been a solution. Issuing more credit cards hasn't been a solution. And, sending students to college for government-backed loans hasn't been the solution. Where are the jobs? Unemployment is reaching double digits. PEOTUS Obama rushing to engage in civic heroism has said that stimulus spending will trump the deficit. Well, that's just great. Let's spend ourselves into oblivion at the speed of light. Let's see just how fast we can send this country to hell in a handbasket. What say ye? Sit back, prop your feet up and have some popcorn - we'll be able to watch our sovereignty unravel before our very eyes!

The problem with billions upon billions of cash injection is that "inflation" will eventually raise its big, ugly head. To coin an economic term shared with me recently, the "velocity" in which inflation is likely to spring itself upon us at such speed is apt to be unparalleled in history.

Before I continue I'd like to ask a question of our able-minded bloggers here. Why did we need Congressional approval in September to pass a $700(850),000,000,000 rescue bill? On what authority has the FED now been given to throw out an additional $800,000,000,000? I'm sorry, I don't see the difference. If you know the answer to this please inform me (TIA)! If the FED needed Congressional approval then, why not now? If they don't need it now, why did they need it then? It makes no sense.

If government continues to throw money at these problems that aren't going away (due in part to government throwing money at problems already), how can we expect things to get any better? Will people start paying their mortgage bills? Will Obama raise the minimum wage to a level to subsidize the default crisis? Will allowing larger and more credit card limits raise federal revenue? Will giving students more college loans create more jobs and increase our GDP? The answer is simply "NO!" PEOTUS Obama can talk about creating 2.5 million jobs all he likes (we'll have lost that many jobs by the time he takes office in late January). The ONLY thing new that's going to be created is more government - more bureaucracy, more spending and ultimately more debt. Nothing new at all. We'll simply be pushing more paper around until it completely wears or runs out.

There are ONLY TWO things that will fix this problem: (1) Substantially reduced government spending, (2) Spark manufacturing growth through less taxation and encourage entrepreneurship. That is what will grow the economy - produce something, creating real jobs and expand the taxbase. Combine that with less government spending and social programs and this country would actually come closer to balancing the budget and begin reducing our debt.

This is something that government really hasn't ever tried. Instead, we've shipped companies and jobs overseas and south of the border. We've become a nation of imports and paper shufflers here at home. Joe signs a piece of paper and sends it to Susie and she sends it to Sam and the cycle goes around in a non-ending circle in the complete absence of anything ever being produced. Not a thing. Not a machine, not a computer, not a TV, not a stereo, not a blender, not a washing machine - not much at all when you think about it really. Actually, just go look, see where the product "made in" is from what country. Hardly anything is manufactured here anymore. Some of it may be assembled here, but that's insignificant comparatively.

Oh, I forgot the pharmaceuticals - we've plenty of those and they get premiums because they're in such high demand. Same with the growth of mental facilities and institutions. The pharmacies keep people doped up to cope and the medical rehabs and psychological institutions sweep up the damage with a hefty tab being picked up by those who are able to still actually work. Those working are actually being pushed to the limits, unable or unwilling to seek government assistance and often working two jobs or more. And, then there's the "well off" enough to be shielded from the thwart of most of it. That will also run out eventually when folks can't pay car or home insurance, doctor bills or by pills. So, they too, like manufacturing, will begin to vanish.

I'm sorry if I sound pessimistic about our plight, our economy and our future. It's not intentional, but rather an honest perception, perspective of where we are and likely headed. For too long we've all been guilty of not holding our elected officials accountable and it has caught up with us. Caught most of us very blindly. Government has grown and spent exponentially. Our debt is gargantuan. Our annual spending is sky-rocketing and is about to hit warp speed, the likes of which we've never seen! Meanwhile, taxes will have to eventually increase on the few remaining workers. Our expenses will outweigh our revenue so substantially and so consecutively that we'll at last finally have to admit default and we as a FREE nation will no longer exist as we've known it. Unfortunately, I'm not sure that day hasn't already arrived.

Can we change it? Yes, but the answer is not in more government. We have to get back in the business of creating things, producing things and we'll have to do it cheaper and better than we ever have. We're going to have to stop the unbridled sending of jobs to other nations. (Look up Larry Summers, the economist Obama just appointed) - find where his beliefs support the export of jobs.

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'The most terrifying words in the English language are: I'm from the government and I'm here to help.' - Ronald Reagan

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Other good tropical blogs on WU here at "TROPICAL LAGNIAPPE". These are from some of WU's most respected, adept weather bloggers. Please check them out! Good info from them, and I always learn something when I visit their blogs and sites.




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Please stay on topic! Post relative or other informative posts. Slanted, biased party rhetoric is off-topic, unrelated, unwelcomed and will result in a minimum 24-hr ban.

Respectfully and thanks in advance!

Citi bailed Toxics get "GO"

By: moonlightcowboy, 6:18 AM GMT on November 24, 2008

Government unveils plan to bailout Citi

WASHINGTON – The government unveiled a bold plan Sunday to rescue troubled Citigroup, including taking a $20 billion stake in the firm as well as guaranteeing hundreds of billions of dollars in risky assets. The action, announced jointly by the Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corp., is aimed at shoring up a huge financial institution whose collapse would wreak havoc on the already crippled financial system and the U.S. economy.

The sweeping plan is geared to stemming a crisis of confidence in the company, whose stocks has been hammered in the past week on worries about its financial health. "With these transactions, the U.S. government is taking the actions necessary to strengthen the financial system and protect U.S. taxpayers and the U.S. economy," the three agencies said in a statement issued Sunday night. "We will continue to use all of our resources to preserve the strength of our banking institutions, and promote the process of repair and recovery and to manage risks," they said.

The $20 billion cash injection by the Treasury Department will come from the $700 billion financial bailout package. The capital infusion follows an earlier one — of $25 billion — in Citigroup in which the government received an ownership stake. In addition, Treasury and the FDIC will guarantee against the "possibility of unusually large losses" on up to $306 billion of risky loans and securities backed by commercial and residential mortgages.




GET READY! The TOXIC ANIMALS will start lining up now too!




Q: What’s lost more than Citigroup’s stock this week?

A: Citi’s Corporate Special Opportunities hedge fund, over the last month.

But facing the ninth time it has had to intervene recently on one of its alternative investment funds in a unit once headed up by CEO Pandit himself, is the bank ready to tip its hand?
Morning Call: November 21

Citigroup is liquidating its Corporate Special Opportunities hedge fund after it lost 53 per cent of its value last month, marking the ninth time in recent months that the bank has had to close or rescue a fund in its alternative investment unit.

The collapse represents the latest setback for Citi’s chief executive, Vikram Pandit, a former head of the alternative investment unit, who revealed plans on Monday to cut the bank’s headcount by 52,000.



Ok, here we go! Remember, the gurus are saying that any new funds within the past two years will collapse and close first, followed by the players. Now, the government has decided to give Citi $20,000,000,000 more of taxpayer money with up to another $306,000,000,000 in guarantees of toxic assets.

Citi's numbers are plummeting with massive layoffs imminent. Citi has already received $25,000,000,000 of capital injection in lieu of preferred stock owned by the taxpayers. Of course, those shares will be worth nothing in a Citi failure. Even the Arab Prince who deposited more than $250 million in stock purchase did nothing to help the investment bank's positive perspective.

Now, Citi gets an even bigger, better deal from the government. Sound familiar? Well, it should. Are AIG and Citi too big to fail? Not imo. Not when the bailout funds will go to cover losses in hedge funds, etc. I still can't get past the fact that Citi actually thought it could pull of the Wachovia purchase considering its present financial straits. Yet, the government is guaranteeing over $300,000,000,000 in bad assets!

I wonder how much money was passed on the Sabbath today to make this deal happen. Seems here lately, the government is getting quite accustomed to passing the plate around on Sundays while "secretly" looking after the taxpayer's interests! Paulson has been a joke. The TARP program hasn't purchased any bad assets until now. And, what may have looked like a "turnaround" by Paulson from his original "sell" to the Congress, it appears that he has come full circle again!

More help for Citi? $25,000,000,000 didn't help just less than a month ago! Is there a number that will help them? Apparently, the government thinks another $326,000,000,000 is acceptable to the American taxpayer.


Get ready! The other TOXIC ANIMALS will be lining up too!




Feel sick yet? Take some Dramamine - the ride is just getting started!




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'The most terrifying words in the English language are: I'm from the government and I'm here to help.' - Ronald Reagan

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Other good tropical blogs on WU here at "TROPICAL LAGNIAPPE". These are from some of WU's most respected, adept weather bloggers. Please check them out! Good info from them, and I always learn something when I visit their blogs and sites.




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Cowboys are still around!

By: moonlightcowboy, 4:24 AM GMT on November 23, 2008

...yup, cowboys are still around!



or here is the link My Heroes Have Always Been Cowboys!


As far back as I can remember cowboys were the real thing! We played "Cowboys and Indians" and dreamed of wearing cowboy hats and strapping a six-gun on our waists, fighting the bad guys. Of course, we were the good guys and sometimes we teamed up with the Indians to beat them. We had our ponies, our trusted friends who rode with us long and hard, dependable but often thirsty and weary for rest.

We watched Roy Rogers and Gabby, the Duke, Tonto and the Lone Ranger, Davy Crockett, Daniel Boone, 'Adam, Hoss and Little Joe', Matt Dillon and Festus, Lucas McCain (was almost named Lucas at birth-lol), Trampus and the Virginian, Jason McCord and Cimarron Strip with Marshal Jim Crown. There was Wagon Train, Paladin (have gun, will travel), Trinity (that guy was fast), Josey Wales, the Wild West, Jeremiah Johnson, and even Cochise, Sitting Bull and Geronimo. There was Laramie, Laredo, Cheyenne, High Chaparral, Jesse James, Wyatt Earp and the OK Corral.

There were great movies and (wow!) to see one of them on the big screen - well, it just didn't get any better than that! It was larger than life itself and so were we!



We stood tall in the saddle with the likes of Roy Rogers, Hopalong Cassidy, Gene Autry and John Wayne. We wanted to be just like them! We wanted to ride and shoot, have round-ups, cattle drives, and campfires. We'd take our ropes and make lariats and lasso a fence post pretending we'd roped a steer and had fun roping each other. We build forts and teepees. Our bows and arrows were fierce, sharp and deadly (lol). We painted our faces, and we'd have a war dance; complete with all the "Indian" language we could muster in song.

We hated running out of caps to shoot because it made our six-guns sound real – out of ammo, ugh! A trip to the 5 & 10 cent store for new caps was something we looked forward to every time. After all, we just “had" to have them. Our six-guns would be ready for another round of adventure! Wow that smell! We were armed and dangerous!

Our boots were heavy, but they were the "real thing" - like our hats. We usually broke our fake spurs, but we just chalked that up to being tough and that was ok by us. We'd get hot and sweaty. My gosh! I haven't heard the term "Caesar's beads" in years!!! (Anyone know what they are? lol) We were rough and tough, played for hours and hours, got dirty and tired, but we had lots of fun!

Those were the days! We dreamed of conquering the Wild West with great adventure and fame. Our days were full of fun and imagination and it catapulted us into believing that we were just as special as our heroes on TV. Somehow, I know, that was an integral part of my life and is part of who I am today. I hate to think of what kind of person I'd be without them, without those days! Eventually, we cowboys become more interested in cowgirls and other things, but I know that I will always be a cowboy at heart; knowing that one day, I'll ride into the sunset of my life with the bruises and the joys of all the years!

So, there you have it. Join me and raise a toast to the cowboys and celebrate the richness of our past and know that there are some gritty cowboys still around even in these days. Yup, still here fighting the bad guys! If you'd like to share a picture, a story, a memory, a song, a great adventure, please do!


Happy Trails To You!


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'The most terrifying words in the English language are: I'm from the government and I'm here to help.' - Ronald Reagan

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Other good tropical blogs on WU here at "TROPICAL LAGNIAPPE". These are from some of WU's most respected, adept weather bloggers. Please check them out! Good info from them, and I always learn something when I visit their blogs and sites.




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Dr. Ron Paul is on target!

By: moonlightcowboy, 6:35 AM GMT on November 19, 2008

PLEASE, listen to Dr. Paul. He's not in it for money, notoriety, fame and other fortune. He's interested in our sovereignty as a FREE NATION and not to give that up. "Global politics" are not worth it if at the expense of this GREAT NATION!

I'm going to see, visit Dr. Ron Paul and help him every way I can! He is the only fella I know of in Congress that I trust and actually knows the meaning of and how to spell -

I N T E G R I T Y !!!



If "freedom" and "responsibility" doesn't take back this country - then ****pooooof**** - as the Eagles would say ALREADY GONE!


Campaign for Liberty - SIGN UP!


Because of Campaign for Liberty's tax-exempt status under IRC Sec. 501 (C) (4) and its state and federal legislative activities, contributions are not tax deductible as charitable contributions (IRC § 170) or as a business deduction (IRC § 162(e)(1)).



'The most terrifying words in the English language are: I'm from the government and I'm here to help.' - Ronald Reagan

------------------------------------------------------------

Other good tropical blogs on WU here at "TROPICAL LAGNIAPPE". These are from some of WU's most respected, adept weather bloggers. Please check them out! Good info from them, and I always learn something when I visit their blogs and sites.



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HELL, if you can't figure this out from here, well, there's not much hope for YOU or the COUNTRY!

Gorilla in the gold mine!

By: moonlightcowboy, 1:38 AM GMT on November 11, 2008



Ok, I've had it! Now, we're oblgating the taxpayers for $150 billion gift and loans (is there a difference) to "one" company, AIG! Yet, for the 2nd time executives have thrown a second executive posh, luxury resort party meeting in Arizona. This is the second party they've thrown since the taxpayers handed them $85 billion in the supposed rush-to-pass bailout bill in the "financial crisis!" Additionally, this is the only company that "bailout" money has gone to other than a bank which we we're being told was intended to free up the credit markets. Yet, that's not having as great of effect either as we've been led to believe it would.

Why AIG Is Devouring the Bailout Fund - LINK

If there's one company whose fate foretells where the rest of the economy is headed, it's AIG.

When the nearly insolvent insurance giant took an extraordinary $85 billion loan from the government in September, it signaled that financial tremors were spreading beyond Wall Street banks into other industries—and into 130 countries where AIG does business. In October, AIG got another infusion of $38 billion from the feds, as the stock markets tanked and the economy careened downward. Now, as AIG has announced a mammoth $25 billion third-quarter loss, the government has essentially scrapped its first two AIG rescue plans in favor of more aggressive treatment that reveals how much intervention is still required to prevent a financial epidemic.

The new plan effectively lowers the interest rate AIG must pay the government on $60 billion worth of loans and extends the payback period from two years to five. The government will also buy $40 billion in AIG stock and spend an additional $50 billion or so buying AIG-held securities that nobody else wants right now, at any price.

The terms of the new deal might sound arcane, but they're worth paying attention to. AIG is the gorilla in the coal mine, and its demise would trigger severe Darwinian fallout that would make the Lehman Brothers liquidation look like the death of a snail. That's why the government is all but wheeling AIG around on a gurney and why the big firm's fate has implications for virtually every consumer, even if you've never bought an AIG insurance policy. Here's what AIG's problems mean for the rest of us:

The financial crisis is far from over. Don't be fooled just because those wild stock market gyrations seem to have subsided—there could still be plenty of bad news ahead. AIG's condition is clearly more dire than regulators and company executives first thought, which is why the government has restructured the AIG bailout and nearly doubled the amount of federal aid to the company. That means other companies are likely to founder as well—including some that are AIG trading partners. They may not be as integral to the rest of the financial system as AIG is, but their problems will rattle markets for some time to come and contribute to unemployment.

Conventional fixes aren't working. After the first $85 billion loan, some AIG executives and shareholders hoped the firm would quickly sell assets, pay off the federal loan, and regain control of itself. But it couldn't. AIG has plenty to sell, including a profitable life-insurance business, global port operations, and the world's biggest fleet of jetliners, which it leases to airlines worldwide. But the credit freeze has made it hard for even healthy companies to find the cash for such big purchases. And if AIG were forced to sell at fire-sale prices, it would depress the entire market for those assets, deepening the recession. That's why the government, among other things, has given AIG more time to hold out for a fair price for some of its most valuable holdings. But there's still no guarantee that this will save the company, and the government might have to dip even deeper into its bag of very expensive tricks.

AIG helped trigger the overall financial crisis and the credit freeze that followed, through vast amounts of credit-default swaps and other securities it nearly defaulted on. If it could happen to AIG—once considered a gold-plated risk—then it could happen to any firm, which is why banks are suddenly afraid to lend. And now, AIG is suffering the blow-back of its own failures as much as anybody, since it desperately needs liquidity and functioning markets in order to sell assets. Yet even with federal help, AIG is struggling to stay afloat.

The bailout fund is quickly being depleted. Who would have thought it could be so easy to spend $700 billion? Federal commitments to AIG alone amount to more than one fifth of the entire bailout fund. Fannie Mae and Freddie Mac may soon need a lot of help. Then there are the Detroit automakers, along with other insurers and perhaps dozens of regional banks that are lined up, asking for a bailout. Not long ago, companies turned to AIG to provide insurance against these kinds of catastrophes. Now the American taxpayer is the insurer of last resort.



Despite their constituents saying "no" to the bailout, Congress ignored the people's voice and rushed to pass the "Paulson Plan" and guess what...it hasn't worked. Guess again...it isn't going to work! This is ONLY getting worse because we are not allowing the markets to work. Apparently, AIG caused a large part of the problem. It should be allowed to fail. Additionally, we're going to have to rescue the FANNIE's, too (appropriately named aren't they seeing it's our a$$eS on the line). Motown's bailout will pale in comparison and I am NOT for that bailout either, especially not Chrysler which is "privately held." Neither should it be allowed to merge or be be bought by the big two with taxpayer money. What's next? Are we going to offer Honda or Toyota a bailout? Why not? We're already bailing out foreign banks! What didn't we bail out the textile industry? Or American electronic manufacturers?

Are we going to nationalize all the big businesses? Even big oil will eventually go by the wayside as goes the country with default from debt to the mid-east and to China. We can NOT keep leveraging the American taxpayer, our Country! Let AIG whither and die on the vine! It is corrupt and full of malfeasance. If there are any good shoots left they will take root and flourish again in the future. If we do not allow AIG to fail, the country - THE TAXPAYER - will be left to carry the burden for turning this country entirely socialist! And when we do the well of freedom will dry up and perish from this land, mostly because of one man's poor judgement, Hank Paulson, who has already missed the mark repeatedly. When will we find his next mistake or corroboration? Fannie Mae/Mac? Will we find that it will take another couple of trillion dollars already on top of the two trillion we've spent and slated to spend? We're talking about the national debt nearing $25 trillion very quickly. Some of these hedge funds are also going to implode soon anyways and money for AIG will be a waste. It's especially wasteful as AIG execs continue to throw $500,000 parties at taxpayer expense!

This can not stand! Write your Congressmen A G A I N! Let them know you expect and demand greater accountability. Tell them to pass an emergency bill to halt Paulson from spending any more tax money until a thorough examination by several economists have resounded the proper action, not one Wall Street suit's opinion. Paulson reasoned it was more important for him to take care of his old buddies at Goldman-Sachs first, before anyone or anything! And, so he did. FCOL! I mean really!

If you value this country, if you value your freedom, if you value your hard-earned money, then please join me in writing and calling every Congressman and every Senator and ask them to STOP PAULSON and his "rush-to-spend" additional bailout money without professionally-scrutinized economic consulting and company analysis. If we don't stop and make the effort to do this we're giving not only Paulson, but the next administration a blank check on our future - one that can't be cashed now or anytime soon by future generations! Ask them enough is enough and to stop the aid to AIG, the "gorilla in the gold mine! TIA

Here are the links for your elected officials in Washington:
FIND YOUR US SENATORS HERE.
FIND YOUR CONGRESSMEN HERE.
Tell the WHITE HOUSE, too!
Obama's TRANSITION OFFICE!




Why American Freedom is in its Eleventh Hour

A well-known self-destructive cycle of democratic behavior has been attributed to an eighteenth century historian by the name of Alexander Tytler. Whether Tytler is the original author or not, the concept of democratic self-destruction has been proven accurate, right here in America.

“From bondage to spiritual faith;
From spiritual faith to great courage;
From courage to liberty;
From liberty to abundance;
From abundance to complacency;
From complacency to apathy;
From apathy to dependence;
From dependence back into bondage.”

The cycle identifies eight stages of a process which demonstrates exactly how history tends to repeat itself. America finds itself in the seventh stage as it heads into the 2008 election, where it will decide whether or not to leap headlong into stage eight.

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Because of Campaign for Liberty's tax-exempt status under IRC Sec. 501 (C) (4) and its state and federal legislative activities, contributions are not tax deductible as charitable contributions (IRC § 170) or as a business deduction (IRC § 162(e)(1)).



'The most terrifying words in the English language are: I'm from the government and I'm here to help.' - Ronald Reagan

------------------------------------------------------------

Other good tropical blogs on WU here at "TROPICAL LAGNIAPPE". These are from some of WU's most respected, adept weather bloggers. Please check them out! Good info from them, and I always learn something when I visit their blogs and sites.



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TUMBLING hedge DICE!

By: moonlightcowboy, 1:47 PM GMT on November 05, 2008

I've been talking about these hedge funds now for weeks. We haven't found the bottom yet in the markets. Bargain shopping? At best the markets are a crapshoot. There's another and another floor still further down the line.



Hedge Fund 'Stress' Making Mess of Bottom-Picking Efforts - LINK

After two days of severe declines, stock stabilized globally Friday and at least in the early going in the U.S. But the past 48 hours have brought stark reminders of the dark days of September and October, including fears of forced selling by hedge funds.

Redemptions, rumors and losses continue to dog some of the biggest hedge funds, The Wall Street Journal reports, including:

* Ken Griffin's $16B Citadel, whose main fund is down nearly 40% this year. The firm denies rumors it is receiving collateral calls from its lenders, who confirmed that denial, the WSJ reports.
* Redemptions ranging from 6% to 33% of total assets have hit big funds, including Icahn Partners (which manages $7 billion), Highbridge Capital ($17B), Och-Ziff Capital ($28B), Plainfield Asset Management ($5B), Trafalgar Asset Management ($3B) and Blue Mountain Capital ($5B).

No tears are being shed for these hedge funds but redemptions -- i.e., investors asking for the money back -- means hedge funds have to sell assets, which can hurt performance further, leading to more redemptions, and so on.

This downward spiral in the hedge fund community, which had $1.5 trillion under management in early 2007, is one big reason for the continued downward pressure on the market.

The size and scope of hedge fund loses and redemptions - and the potential for more to come -- is a major wrinkle in the "market is cheap" mantra being repeated so often lately, including by some legendary investors.



..."slump" sounds kind of light to me! Uuuummm, can you say "bankruptcy?" UGH!


First full-year slump since 1940s, says IMF - LINK

A stark warning from the IMF that the world’s developed economies are collectively set to endure their first full-year contraction since the Second World War, triggering a global recession, sent shares plummeting again on both sides of the Atlantic. In its bleakest assessment yet of rapidly worsening global prospects, the International Monetary Fund predicted that industrial economies as a whole will shrink through next year by 0.3 per cent, in the worst such slump of the postwar era.

The IMF said that the toll imposed by the downturn across the West would sap the strength of the world economy and cut global growth next year to an anemic 2.2 per cent. That is down 0.8 points from its last forecast, made only a month ago, and is below the 2.5 per cent threshold at which the world economy is judged to be in the grip of global recession. Shares plunged in New York, in London and across Europe as the IMF’s grim prognosis fueled alarm among investors about the economic peril now confronting the world.



Your taxes are about to go up. Your taxes are about to go up substantially. That is of course unless you've been on the receiving end of an entitlement. But, that too will shrink because the Democratic Congress will further manipulate the CPI to pull money from Social Security to pay for expanding government social programs.

Schwarzenegger: $4.4B in tax hikes to end deficit - LINK. Yup, here it comes! That's a $9 billion swing in California taxes/services. Imagine what it is going to have to be at the FEDERAL level!!!!!!!!!!!!

The keys to the country were given to Obama, but with his liberal, tax-n-spend policies, the GDP will shrink and taxes will continue to increase...slowly at first and then substantially. Fortunately, the Senate did not become technically filibuster-proof; however, with a few Republicans that lean left who will be rewarded, the Democratic Senate will still get to do as they please...and America will become more of a socialist state, taking from those that work and produce and re-distributing it to those that have come to rely on government, not themselves.

Additionally, as the GDP shrinks and inflation increases, times will get substantially hard, rough! Supplies will become limited. Markets like the DOW will move towards an even lower bottom (4,000 Dow) despite their love for free-spending Democratic administrations. Investment in our free-market system will dwindle, largely because we can't pay our bills. Look for more companies to move overseas and the unemployment rate to increase into double-digits.

As that all happens, crime will also increase. Fewer jobs, more people with less to eat, less to have. More threats, both foreign and domestic. Stay vigilant! Stay informed. Watch what your government does. Watch closely. Be a voice. Be pro-active. Demand responsibility and accountability. As with hurricane season, make a plan - make a backup plan. Have reserves and be prepared!



From each according to his abilities, to each according to his needs. - Karl Marx (left) and Hank Paulson (right). Notice the similarities (well, except for the mane). Hhhhmmmm, needs? Hank must have some very long needs.


Why American Freedom is in its Eleventh Hour

A well-known self-destructive cycle of democratic behavior has been attributed to an eighteenth century historian by the name of Alexander Tytler. Whether Tytler is the original author or not, the concept of democratic self-destruction has been proven accurate, right here in America.

“From bondage to spiritual faith;
From spiritual faith to great courage;
From courage to liberty;
From liberty to abundance;
From abundance to complacency;
From complacency to apathy;
From apathy to dependence;
From dependence back into bondage.”

The cycle identifies eight stages of a process which demonstrates exactly how history tends to repeat itself. America finds itself in the seventh stage as it heads into the 2008 election, where it will decide whether or not to leap headlong into stage eight.

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'The most terrifying words in the English language are: I'm from the government and I'm here to help.' - Ronald Reagan

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Other good tropical blogs on WU here at "TROPICAL LAGNIAPPE". These are from some of WU's most respected, adept weather bloggers. Please check them out! Good info from them, and I always learn something when I visit their blogs and sites.



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...the hand of God today & beyond!

By: moonlightcowboy, 5:12 AM GMT on November 04, 2008



The Touch Of God Upon Our Nation

Most Precious Lord Jesus, Gentle And Wonderful God, Truly Awesome And Ever-present Holy Spirit, I love You, Lord Jesus. Please bless this nation in which I live. Please pour out Your Spirit upon this nation's people and upon its leaders. Our nation has had times of trial and times of blessing. At this moment, we are facing grave dangers and trials we have not seen in generations.

Because of this dark hour in our nation's history, I seek Your Touch upon this nation and its citizens. Touch the heart of every man, woman, and child who lives within our borders...and of our service men and women overseas. Lord, hold them safe at your side and return them home safely to us. O Lord, open our heart to You and to Your Love. O Lord, open our heart to You and to Your Will for our people. Protect us from the looming darkness that threatens us. Protect us from the evil that lurks about both from within and from without. Protect our people. Protect our leaders. Inspire in all of us, the desire to do Your Will and only Your Will. Keep us on our knees before Your Cross. May Your Touch open the floodgates of our creative spirit, our imagination, our inventiveness, our growth, and our unlimited hope for the future.

Inspire in us a heart to turn from every corruption. Inspire in us a heart to turn from every temptation. Inspire in us a heart to do and live only Your Will each day. All these things I humbly pray in the Name of my most Blessed Lord Jesus Christ, my Mighty God, and my Ever-present Holy Spirit upon Whom I can rely.

Amen.



McCain/Palin - COUNTRY FIRST!
...a great video! If you're still an undecided voter, please watch this video and consider casting your vote for this Country First - Vote for John McCain and Sarah Palin.





Why American Freedom is in its Eleventh Hour

A well-known self-destructive cycle of democratic behavior has been attributed to an eighteenth century historian by the name of Alexander Tytler. Whether Tytler is the original author or not, the concept of democratic self-destruction has been proven accurate, right here in America.

“From bondage to spiritual faith;
From spiritual faith to great courage;
From courage to liberty;
From liberty to abundance;
From abundance to complacency;
From complacency to apathy;
From apathy to dependence;
From dependence back into bondage.”

The cycle identifies eight stages of a process which demonstrates exactly how history tends to repeat itself. America finds itself in the seventh stage as it heads into the 2008 election, where it will decide whether or not to leap headlong into stage eight.



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'The most terrifying words in the English language are: I'm from the government and I'm here to help.' - Ronald Reagan

“These capitalists (today would be our politicians as well) generally act harmoniously and in concert, to fleece the people” - Abraham Lincoln

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Other weather-related BLOGS:

Other good tropical blogs on WU here at "TROPICAL LAGNIAPPE". These are from some of WU's most respected, adept weather bloggers. Please check them out! Good info from them, and I always learn something when I visit their blogs and sites.



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The views of the author are his/her own and do not necessarily represent the position of The Weather Company or its parent, IBM.

moonlightcowboy's WunderBlog

About moonlightcowboy

"There is no heavier burden than a great potential." - Charles Schultz, in the Peanut's character of Linus.