Fed Open to Economic Necromancy

Stupid, stupid, stupid:

Some Federal Reserve officials are open to raising the amounts of mortgage and Treasury securities purchase programs beyond the $1.75 trillion that they have already committed to buying, according to minutes from the Fed’s April meeting.

Officials, meanwhile, projected an even deeper recession than they expected three months earlier and a more sluggish recovery over the next two years as labor markets remain under pressure.

“Some members noted that a further increase in the total amount of purchases might well be warranted at some point to spur a more rapid pace of recovery,” according to the minutes of the April 28-29 meeting, released Wednesday with the usual lag.

The Fed can buy all it wants, but the fact of the matter is that most of what the Fed is buying is worthless – to put it into more understandable terms: the Fed could buy my mortgage from my current lender, but the Fed would be buying a mortgage on a piece of property which not only can’t be sold to cover the mortgage, but probably can’t even be sold at all given the number of foreclosed houses on the market undercutting any attempt to sell a non-foreclosed property. So, the Fed will buy worthless securities with money printed into existence at a time when the wealth value of the United States – the source of our currency’s value – is rapidly declining. The institutions which receive this fiat money will then, as swiftly as possible, convert it into anything not tied to the value of the dollar because those dollars are being made progressively worth less by the Fed printing them in order to buy the worthless securities. Who gets screwed in all this. Go look in the mirror.

The old economy is dead – that economy which had as its crowns the Federal Reserve, the International Monetary Fund, the World Bank…all these institutions built to move make-believe money around in a usurious financial system which could only exist by means of the greater fool economic theory (in other words, there is always a greater fool to buy the security). We need a new economy – really, of course, a return to a real economy. We need an economy where the farmer, miner and manufacturer rule the economic roost; a place where there is a free movement of goods and people; a place where a degree in law, accounting or business is of less worth than ten year’s experience on the shop floor.

We’ll get this economy, in the end – but it might take a while before the paladins of our current collapse are forced out of power.

Cheney's Speech

Because Dick Cheney is awesome, and his speech kicked ass, here it is, in full, below the fold.

Cheney '12?

Well, if he keeps getting more popular, why not?

The same day Dick Cheney delivered a major speech on the battle against terrorism, a new national poll suggests that favorable opinions of the former vice president are on the rise.

But the CNN/Opinion Research Corporation survey, released Wednesday morning, indicates that a majority of Americans still have an unfavorable opinion of Cheney.

Fifty-five percent of people questioned in the poll say they have an unfavorable opinion of the former vice president. Thirty-seven percent say they have a favorable opinion of Cheney, up eight points from January when he left office.

Long way to go, but if we average 8 points every four months, then by November, 2012, Cheney should have the support of everyone.

Obama Waterboarding/Gitmo Speech

I watched it, and after a while I got tired of essentially hearing that people on my side merely played upon fear, were fearful ourselves, and went about doing horrible, anti-American things which The One will now fix and get us back on track…but, meanwhile, no one is getting out of Gitmo for a while, and if they do they’re going to SuperMax…and I don’t know about you, but I’d rather be at Club Gitmo than in SuperMax.

More important to me than this is the fact that Obama made it abundantly clear that the War on Terrorism has now become the War on al-Qaeda – faced with a global jihad made up of disparate groups backed by various, national players, Obama has opted to become the miniaturist of American national security…he’s going to go after al-Qaeda (with a few swipes at the Taliban, along the way) and fixate American policy on chasing the ghost of bin Laden through the Tribal Areas. We’re in a lot of trouble, folks – al-Qaeda has already been vastly weakened and, at any rate, is only one, small part of the Islamist terrorist threat we face. Obama and his Democrats said we took our eyes off the ball when we went to Iraq – well, its the 7th inning and they are concentrating on the ball used by the first batter in the first inning…

He repeated the usual litany of entirely unsubstantiated, kook-leftist talking points to justify his policy (ie, “Gitmo is a terrorist recruitment tool”), and showed that in the area of national security and the War on Terrorism, he’s walking blindfolded into disaster. He’s getting advice some really smart people (Gates, Panetta, eg) but he seems unwilling to draw the full conclusions from what he’s learned since he received his first Presidential intel brief as the Democrat nominee – that the rhetoric of the left, at best, covered only a peculiar and highly incomplete aspect of what we face. Some moves made since January 20th were encouraging (such as not releasing the photos), but this speech shows that in policy, Obama is retreated to 9/10 and relying upon the magic of his name and the federal courts to keep us safe.

It is an error and I hope it is not paid for in blood.

Subversive Phrase of the Day

No justice, no peace:

The greatest destroyer of peace is abortion because if a mother can kill her own child, what is left for me to kill you and you to kill me? There is nothing between. – Blessed Mother Theresa of Calcutta

Becoming Pro-Life

Because abortion is, indeed, the enemy of hope:

A new Gallup Poll, conducted May 7-10, finds 51% of Americans calling themselves “pro-life” on the issue of abortion and 42% “pro-choice.” This is the first time a majority of U.S. adults have identified themselves as pro-life since Gallup began asking this question in 1995.

This will still swing around, but the trend is all towards Life. I think, in the end, that we grow weary of the way the world is. We’ve tried licentiousness and irresponsibility for quite a while now, and the people seem ready to start acting like adults, again.

Obama Getting Closer to SCOTUS Nomination

The news story:

President Barack Obama has interviewed federal appeals court judge Diane Wood for the Supreme Court, one of the face-to-face meetings he’s holding with finalists, officials said Wednesday. The move signals Obama is getting closer to one of the most far-reaching decisions of his presidency.

Wood, who serves on the U.S. Court of Appeals in Chicago, is among a small number of people being seriously considered for the high court.

I’m going to try to work myself up over this, I guess…actually, its rather difficult. All we’re doing is replacing one unthinking, knee-jerk “love me, please, elites!” liberal Justice with his ideological duplicate. Now, if a conservative Justice were being replaced, that would be another story…but we’re just keeping the 4.7 to 4.3 split in the Court. Its a big yawn for me.

Obama Man Can

Rofl!

A Funny Thing Happened on the Way to Tax and Spend Liberalism

Well, it got crushed in California. California is bankrupt – made so by liberals and RINOs who simply spent and spent and spent as if money appears by magic. There is no way out of the hole except by massive spending cuts – naturally, the liberals and RINOs in California tried one last time to get the people to sign away yet more of their wealth.

All of the propositions to tax, spend and use financial hocus pocus were soundly defeated – the only one which passed, by a nearly 3 to 1 margin, was the proposal to limit the pay of elected officials. Even San Francisco voted against against the measures – it takes a lot to get San Franciscans to cast a majority of their ballots against expansions of the socialist super-State.

What does it all mean? That taxes are toxic. People aren’t buying the financial sleight of hand. That government isn’t trusted, at all. And, I think, that the people are getting used to the idea of complete economic collapse and are just waiting for it to happen, so we can start to build our way back out of it – the Powers That Be know that when the rejection comes, they will be the people tossed out…and so they are trying desperate expedients to some how keep it all together in the hope that some how, some way, the economy will rebound before the 2010 votes are cast. Lotsa luck – but I’m counting on a voter revolution next year.

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