It is a slow day in the small Saskatchewan town of Pumphandle, and streets are deserted. Times are tough, everybody is in debt, and everybody is living on credit.
A tourist visiting the area drives through town, stops at the motel, and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs to pick one for the night.
As soon as he walks upstairs, the motel owner grabs the bill and runs next door to pay his debt to the butcher. The butcher takes the $100 and runs down the street to retire his debt to the pig farmer. The pig farmer takes the $100 and heads off to pay his bill to his supplier, the Co-op. The guy at the Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her "services" on credit. The hooker rushes to the hotel and pays off her room bill with the hotel owner. The hotel proprietor then places the $100 back on the counter so the traveler will not suspect anything.
At that moment the traveler comes down the stairs, states that the rooms are not satisfactory, picks up the $100 bill and leaves.
No one produced anything. No one earned anything... However, the whole town is now out of debt and now looks to the future with a lot more optimism.
And that, ladies and gentlemen, is how a Stimulus package works.
Tuesday, August 31, 2010
Miltons Boys of Fall
The Milton High School 8th Grade Feeder Team was out and about Saturday afternoon doing what they do best. Putting a "W" on the board and enjoying themselves. Here is Jordan Parisian, #25, on a pass play to rack up another first down.
Catching a ball is one thing, hanging on to it is another. Nice job son!!
Catching a ball is one thing, hanging on to it is another. Nice job son!!
Monday, August 30, 2010
Loons and I ain't talking webbed feet........
One of the greatest examples of hypocrisy is the Roger Clements fiasco in the hallowed halls of America's finest lawbreakers, the United States Congress.
If Clements is looking at doing 15 years in the slammer, the scum in Congress should all get life for the lies they perpetrate on the American citizenry.
If Clements is looking at doing 15 years in the slammer, the scum in Congress should all get life for the lies they perpetrate on the American citizenry.
Sunday, August 29, 2010
Let me say it again...........
ZeroHedge.com is the most important financial source of information on the world-wide web, period.
Sunday, August 22, 2010
Frederic Mishkin
As a former Fed governor this loon is as useless as the tits on a boar hog.
What a complete crock of shit this guy is.
The best website on the planet, ZeroHedge.com calls him out. Watch him lie.
http://www.zerohedge.com/article/watch-former-fed-governor-fred-napoleon-dynamite-mishkin-dire-need-diaper-change
What a complete crock of shit this guy is.
The best website on the planet, ZeroHedge.com calls him out. Watch him lie.
http://www.zerohedge.com/article/watch-former-fed-governor-fred-napoleon-dynamite-mishkin-dire-need-diaper-change
It just doesn't matter.............
Spread the word, it won't matter what party gets control of Congress in November, there will NOT be any change with the economy for a very good while.
No change in unemployment. No change in taxation. No change in consumer confidence. No change in savings rates. No change in the quagmire of health care. No change in immigration. NO change in social security structural change. No change in the real estate picture. You get the drill ladies and gentleman.
You might vote in Casper the Ghost or Lady GA GA and nothing will change over the short term. Or maybe the long term.
Prepare accordingly.
No change in unemployment. No change in taxation. No change in consumer confidence. No change in savings rates. No change in the quagmire of health care. No change in immigration. NO change in social security structural change. No change in the real estate picture. You get the drill ladies and gentleman.
You might vote in Casper the Ghost or Lady GA GA and nothing will change over the short term. Or maybe the long term.
Prepare accordingly.
Saturday, August 21, 2010
Business as usual for the bankers.......
Why Franklin Raines isn't in jail is beyond me. They bounce Madoff in the slammer after a year or so and this guy is living high on the hog. Barney Frank, Chris Dodd, Angelo, Congress far beyond anyone going to jail. It's like an elephant sat on their head and they were none the wiser. Obama's PET bank in Chicago took itself down yesterday and the big bankers make out like bandits. The manipulation by government policy is truly staggering. The sheeple are bent over and they don't even know it.
With 113 closures nationwide so far this year, the pace of bank failures far outstrips that of 2009, which was already a brisk year for shutdowns. By this time last year, regulators had closed 81 banks.
The pace has accelerated as banks' losses mount on loans made for commercial property and development. Many companies have shut down in the recession, vacating shopping malls and office buildings financed by the loans. That has brought delinquent loan payments and defaults by commercial developers.
The number of bank failures is expected to peak this year and be slightly higher than the 140 that fell in 2009. That was the highest annual tally since 1992, at the height of the savings and loan crisis. The 2009 failures cost the insurance fund more than $30 billion. Twenty-five banks failed in 2008, the year the financial crisis struck with force; only three succumbed in 2007.
The growing bank failures have sapped billions of dollars out of the deposit insurance fund. It fell into the red last year, and its deficit stood at $20.7 billion as of March 31.
The number of banks on the FDIC's confidential "problem" list jumped to 775 in the first quarter from 702 three months earlier, even as the industry as a whole had its best quarter in two years.
The FDIC expects the cost of resolving failed banks to total around $60 billion from 2010 through 2014.
With 113 closures nationwide so far this year, the pace of bank failures far outstrips that of 2009, which was already a brisk year for shutdowns. By this time last year, regulators had closed 81 banks.
The pace has accelerated as banks' losses mount on loans made for commercial property and development. Many companies have shut down in the recession, vacating shopping malls and office buildings financed by the loans. That has brought delinquent loan payments and defaults by commercial developers.
The number of bank failures is expected to peak this year and be slightly higher than the 140 that fell in 2009. That was the highest annual tally since 1992, at the height of the savings and loan crisis. The 2009 failures cost the insurance fund more than $30 billion. Twenty-five banks failed in 2008, the year the financial crisis struck with force; only three succumbed in 2007.
The growing bank failures have sapped billions of dollars out of the deposit insurance fund. It fell into the red last year, and its deficit stood at $20.7 billion as of March 31.
The number of banks on the FDIC's confidential "problem" list jumped to 775 in the first quarter from 702 three months earlier, even as the industry as a whole had its best quarter in two years.
The FDIC expects the cost of resolving failed banks to total around $60 billion from 2010 through 2014.
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