Almost <i>Ten Trillion</i> in Bailouts, Spending, Guarantees, and "Stimulus" So Far, And More to Come

Almost Ten Trillion in Bailouts, Spending, Guarantees, and "Stimulus" So Far, And More to Come

Drudge is red-lining this Bloomberg piece.

That's 2/3rds of the entire value of everything produced by the US last year. Not 2/3rds of the federal budget -- 2/3rds of the value of everything we made last year. Everything.

And more to come.

Obama and the Democrats claim we need to take "dramatic steps" -- I'm sorry, was 8.7 trillion not dramatic enough for you?

Posted by: Ace at 06:34 PM

Comments

1 Wow, congress found something bigger than Dick Cheney's cock.

Posted by: Purple Avenger at February 09, 2009 06:35 PM (Ygf78)

2 Elections have consequences. At this point, I'm hoping blogs will record what happened and who did what so in a few years we can have something that's accurate insofar as history is concerned.

The census is being politicized. The President has brought in opposition researchers to get dirt on opponents.

It's worth it to keep fighting the good fight, but at this point it's as important to remember...and remind everyone when the time comes.

Posted by: Asher at February 09, 2009 06:38 PM (abnOK)

3 But Democrats aren't socialists? Right?

Posted by: Bald Ninja at February 09, 2009 06:38 PM (4pdbX)

4 I'm hoping blogs will record what happened

Mysterious power outages hit server farms...off-site backup tapes oddly blank.

Posted by: Purple Avenger at February 09, 2009 06:40 PM (Ygf78)

Alright! Everyone in the U.S. (and Canadian tourists just visiting, too, I hope) are all going to be multimillionaires. That is the plan, isn't it, to give everyone in the country multimillion-dollar cheques? (Or the equivalent in $500,000 bills.)

Posted by: andycanuck at February 09, 2009 06:40 PM (TpHGM)

6 Ok, I had a dream last night where the stars in the sky were falling on the ground. I looked up the interpretation and its either I become rich and famous or the world ends. I thought I let you all know.

Posted by: Ginger at February 09, 2009 06:43 PM (VjELp)

7 #6

Or a Unicorn could have been pissing on you. Don't forget about the Unicorns.

Posted by: Bald Ninja at February 09, 2009 06:45 PM (4pdbX)

8 >>>But Democrats aren't socialists? Right?

Calling these people socialists is an insult to the socialists. They're INSANE! That's what they are.

I swear we would be better off if we elected the Chinese Communist Party to run the country rather than these goons.

Posted by: Tim B. at February 09, 2009 06:46 PM (PuIP7)

9 How will the administration deal with flight to quality as non-socialists leave the country for eastern Europe, Ireland, etc?

Posted by: tachyonshuggy at February 09, 2009 06:48 PM (TXp3z)

10 That is the plan, isn't it, to give everyone in the country multimillion-dollar cheques? (Or the equivalent in $500,000 bills.)

After the inflation hits, yeah, you'll need $500K bills to buy your groceries: a few rotted potatoes, and some sketchy-looking cheese-like products.

But fortunately, if you can afford said potatoes and faux-cheese products, you can have a HAWT chick giving you all sorts of wild monkey-love.

Posted by: I R A Darth Aggie at February 09, 2009 06:49 PM (1hM1d)

11 The naked greed and opportunistic tactics of the Democrats is so obvious (thankfully the MSM has our back) - there is no way this will not come back to bite them even given the MSM's reverent and adoring posture. Or am I giving my fellow Americans too much credit?

Posted by: Bald Ninja at February 09, 2009 06:49 PM (4pdbX)

12 While totaling all that stuff together is very dramatic, it's also more than a little disingenuous .

If the taxpayers end up on the hook for the entirety of the loans and guarantees, the fact that it adds up into the trillions and trillions will be only a small problem, compared to everything else that that would mean, since it would require a complete and total meltdown of the entire financial sector -- the default and/or bankruptcy of virtually every bank and corporation in the country.

That said, it does show how far from anything that could remotely be considered "free market" or "capitalist" we have come, in almost no time, and in a very bipartisan fashion. Which really sucks.

Posted by: notropis at February 09, 2009 06:52 PM (SsvsX)

13 Or am I giving my fellow Americans too much credit?

Yes.

Posted by: HeatherRadish at February 09, 2009 06:52 PM (HplhU)

and some sketchy-looking cheese-like products.

Mmm. Soylent Orange®.

Posted by: andycanuck at February 09, 2009 06:54 PM (TpHGM)

15 Would I be a patriot if I said I hated the government?

Posted by: Ginger at February 09, 2009 06:54 PM (VjELp)

Fuck.

Posted by: The Atom Bomb of Loving Kindness at February 09, 2009 06:56 PM (0FHr8)

17

I want to rip my eyes out when I see this shit.

Barry is a fucking imbecile.

Posted by: Senator, Advisor Rev. Dr. E. Buzz Miller at February 09, 2009 06:56 PM (cTHpq)

18 I am so sick to my stomach I can't finish my Chipotle burrito. Damn the Democrats! Damn the Government and Damn my burrito.

Posted by: Trish at February 09, 2009 06:57 PM (0U5Kd)

19 Excellent.

Posted by: George Soros at February 09, 2009 06:58 PM (hKtiw)

20 Love the Constituton; hate the Government. That's American.

Posted by: Old Sailor at February 09, 2009 06:58 PM (/Ft4q)

21 6 Ok, I had a dream last night where the stars in the sky were falling on the ground. I looked up the interpretation and its either I become rich and famous or the world ends. I thought I let you all know.

Posted by: Ginger at February 09, 2009 06:43 PM (VjELp)

When you woke up did you find that your hand was dangling in a pan of warm water?

Posted by: Ballroom Dancing with Bassets at February 09, 2009 06:59 PM (bcK3v)

Ace, where are the flaming skulls, I mean really? We need them in this desperate hour of need. Its sort of the Ace way of telling us to drink and to drink heavily.

Posted by: sithson at February 09, 2009 06:59 PM (K1+tY)

23 We have to ask ourselves, why do the Democrats hate America?

Posted by: Uniball at February 09, 2009 07:00 PM (27iEn)

24 Just 2/3's?? SHHHHHHH, don't tell the Democrat's otherwise they'll take the remaining 1/3.

Posted by: CDR M at February 09, 2009 07:03 PM (TJoU6)

25 ...and if you listen carefully you can hear the faint sounds of a circus just off in the distance.

Posted by: adamthemad at February 09, 2009 07:03 PM (kIjlp)

26 Hating America is the highest form of patriotism

Posted by: Purple Avenger at February 09, 2009 07:05 PM (Ygf78)

Ok Finical-Morons a question?

If this leads to Hyper-Inflation, should I dig up the cash in coffee cans in the back yard and buy…Ammo/gold/seeds/1960’s comic-book? Or leave it in the ground and hope for Deflation?

Posted by: Paladin at February 09, 2009 07:06 PM (a+kMW)

28 We're fucked.

Posted by: Your Children's children's children at February 09, 2009 07:07 PM (MMC8r)

29 $10 trillion is ten thousand million, which means...
-
-
-
What does Bloomberg say about its dollar value?

"IT'S OVER NINE THOUSAAAAAAAAAAND!"

Posted by: Volcannon at February 09, 2009 07:07 PM (dIPZz)

When do you think it'll be time to popularize the word quadrillion?

It's a legitimate word but mainly used is sciencey stuff -- never in finance, at least not yet. Do you think the extra syllable will propmt people to pause a little before spending that much money, or should we start introducing it into the vernacular as is? And if so, when?

'Cuz timing is everything, y'know.

Posted by: FireHorse at February 09, 2009 07:09 PM (5KNeJ)

31 OK, so what kind of investing does one do in a Socialist Utopia?

Posted by: CDR M at February 09, 2009 07:09 PM (TJoU6)

32 #31

Nothing, comrade. Dear Leader Obama will invest our devalued monies for us, isn't that nice?!

Posted by: mitthrawnurdo at February 09, 2009 07:11 PM (otlXg)

33 Damn it, if you want to blogs to get it right then document what is happening correctly. You are playing right into the MSM/socialist narrative that this is bipartisan.

This passed with ~2% Republican support. It is not bipartisan. Time to put this blame where it is. This is a Democratic plan that went through with little to no Republican support. They can parade 3 traitors to the masses, but lets get the story straight here otherwise the blogs are no better than John McCain and Fannie and Freddie. For as much and you hate the MSLM, the talking points follow closely. The Republicans didn't cave and will toe the party line on the vote more than the Dems did when you count up the final votes from both houses.

Posted by: David at February 09, 2009 07:13 PM (NgoAe)

34 Pretty soon, a dollar won't even be worth the byte that it's stored on.

Posted by: FireHorse at February 09, 2009 07:13 PM (5KNeJ)

35 Who needs money when Obama and his minions provide all (they think) you need to live comrade?

Posted by: Blue Falcon at February 09, 2009 07:13 PM (SMD8k)

36 I, too, need to know what to do with my cash. Seriously.

Posted by: Jo at February 09, 2009 07:13 PM (oq7Qg)

37 When do you think it'll be time to popularize the word quadrillion?

When the government starts printing ten quadrillion notes so you can buy a loaf of bread?

Posted by: Vinnie at February 09, 2009 07:15 PM (idf83)

38 So Comrades, we can we expect our Roth IRA's to become taxable?

Posted by: CDR M at February 09, 2009 07:16 PM (TJoU6)

39 All you will need to buy bread in the future will be this nice barcode tattoo...

Posted by: nickless at February 09, 2009 07:17 PM (MMC8r)

40 Buy gold (coins, bars, something with a certification), guns, and sufficient ammunition to keep them. Gold will at least keep a global value. But I think Obama will likely pull a FDR and make it illegal for citizens to own it as a commodity.

Posted by: Blue Falcon at February 09, 2009 07:17 PM (SMD8k)

The End of the World by the Carpenters

Why does the "O" keep on running?
Why is Michelle such a whore?
Don't they know it's the end of the world
It ended 'cause the USA is no more

Posted by: Ballroom Dancing with Bassets at February 09, 2009 07:17 PM (bcK3v)

42 I was really good at Monopoly back in the day. I see those skills might be put to good use soon with the collapse of the dollar. Those funny colored bills will fit in my wallet better than the current bills.

Posted by: CDR M at February 09, 2009 07:18 PM (TJoU6)

43 so what kind of investing does one do in a Socialist Utopia?

You do a lot of stealing from your neighbors and the government.

Posted by: Purple Avenger at February 09, 2009 07:20 PM (Ygf78)

what to do with my cash

Convert to gold Krugerrands which have barter power unlike the US dollar which continues to fall against other currencies. You are totally screwed.

Invite a group of morons to join you for a final fling in Vegas. You know the rule, it will all stay in Vegas, except for a couple of big mouth liberal pukes who will tape and put your assignation on U-tube.

Posted by: Fish at February 09, 2009 07:20 PM (CG+cG)

45 Maybe some other country in better shape can buy us out....like Zimbabwe.

Posted by: nickless at February 09, 2009 07:20 PM (MMC8r)

46 #39,

As my friend says, don't take any marks that the Obama administration wants to put on you.

Posted by: mitthrawnurdo at February 09, 2009 07:21 PM (otlXg)

47 #43, I thought that was just for Wi-Fi!

Posted by: CDR M at February 09, 2009 07:22 PM (TJoU6)

48 #29: $10 trillion is ten thousand million, which means...

You're thinking too small. It is 10 million million.

Posted by: CM at February 09, 2009 07:22 PM (f14vX)

49 They're taking food out of baby's mouths to run a nationwide patronage scheme and to take complete control of the country for the next 50 years. What's life compared to power?

Posted by: Evil midnight Bomber What Bombs at Midnight at February 09, 2009 07:23 PM (gIga4)

I swear we would be better off if we elected the Chinese Communist Party to run the country rather than these goons.

Yeah, it would cause some pain but at least they'd immediately get rid of the useful idiots in the media. Off to a camp and execution for them.

Posted by: jaleach at February 09, 2009 07:23 PM (gHrZU)

51 OK, what is the best way to buy Krugerrands. That's one thing I haven't invested in yet.

Posted by: CDR M at February 09, 2009 07:23 PM (TJoU6)

52 Comrade Hussein is doing the best he can with what little he has to work with.

Posted by: ricky at February 09, 2009 07:24 PM (fEu9T)

53 http://tinyurl.com/defbjc
Rep. Kanjorski: $550 Billion Disappeared in "Electronic Run On the Banks"

The Capital Markets Subcommittee Chair, Rep. Paul Kanjorski of Pennsylvania, tells C-Span how the world economy almost collapsed in a matter of hours.

At 2 minutes, 20 seconds into this C-Span video clip, Kanjorski reports on a "tremendous draw-down of money market accounts in the United States, to the tune of $550 billion dollars." According to Kanjorski, this electronic transfer occured over the period of an hour or two. Kanjorski: "The Treasury opened its window to help. They pumped a hundred and five billion dollars into the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks. They decided to close the operation, close down the money accounts, and announce a guarantee of $250,000 per account so there wouldn't be further panic and there. And that's what actually happened. If they had not done that their estimation was that by two o'clock that afternoon, five-and-a-half trillion dollars would have been drawn out of the money market system of the United States, would have collapsed the entire economy of the United States, and within 24 hours the world economy would have collapsed."

"It would have been the end of our political system and our economic systems as we know it."

http://tinyurl.com/5rm248

Posted by: WTF at February 09, 2009 07:24 PM (OzFyV)

54 36 I, too, need to know what to do with my cash. Seriously.

Posted by: Jo at February 09, 2009 07:13 PM (oq7Qg)

Jo, convert it into "money-like substitutes" i.e., things with real value. Things that you can eat, drink, wear, building materials and equipment, etc.

A good first step would be canned goods for three months, water for a month and the means to purify more, and a good rifle with a couple thousand rounds of ammunition. Later, buy the means to reload your own ammo, what you'd need to plant and maintain a subsistence garden, etc.

Posted by: Bra'tac at February 09, 2009 07:25 PM (DG56/)

55 $10 Trillion=A stack of $1,000 bills 630 miles high

Posted by: robtr at February 09, 2009 07:25 PM (uJzOr)

...and if you listen carefully you can hear the faint sounds of a circus just off in the distance.

That ain't a circus. It's gunfire.

Posted by: jaleach at February 09, 2009 07:26 PM (gHrZU)

57 Ginger, hope you become rich. You don't want the famous. But rich and not famous is great.

Posted by: hmmmm at February 09, 2009 07:26 PM (zplc6)

58 We are so, so fucked. Talk about money to buy votes. This is all working out so well for people like the woman who claimed it would all be different now that Obama was King, Savior , The One. It's all just, so, well, prophetic. And Unicornly.

Posted by: mikeyslaw at February 09, 2009 07:26 PM (QMGr1)

The most electable and fair government the American people should place in power would be the Mafia. We know how they run their operations, and we also know they will take big bucks for themselves. Even with this seemingly crass approach, the Mafia would tell you how much they are going to scam and still take less than the Democrat party.

Where are Bugsy, Tony, Vinny, and Don Vito Corleone when we need them?

Posted by: Fish at February 09, 2009 07:26 PM (CG+cG)

OK, so what kind of investing does one do in a Socialist Utopia?

ACME Body Bags, Inc.

Posted by: JackStraw at February 09, 2009 07:27 PM (VW9/y)

I haven't done my taxes yet, but I've decided the process will be:

a) if I'm due a refund - I file

b) if I owe taxes - I don't file

Geez. I wish it could have always been that easy.

Posted by: Ballroom Dancing with Bassets at February 09, 2009 07:28 PM (bcK3v)

We have to ask ourselves, why do the Democrats hate America?

Because they're Socialists?

A better question would be, "How do we defeat the Democrats who hate America?"

Posted by: ErikW at February 09, 2009 07:29 PM (hKtiw)

I want a new country. One that's more like my old country and less like Europe.

Posted by: Lil at February 09, 2009 07:30 PM (8o7yQ)

That's 2/3rds of the entire value of everything produced by the US last year.

Just wait until true communism arrives. Nothing outside the state.

Posted by: flenser at February 09, 2009 07:30 PM (jABQt)

65 scene: Dr. Evil calls Obama

Dr. Evil: Mr. Obama, I am calling to tell you that unless you give in to my demands, I will unleash the clones of plague mice that I stole from a NJ medical collage in all ACORN locations throughout the US.

Black Guy Taking Advantage of Free Public Housing in Washington: Errr... that don't sound...ummm... very Hopenchangey... errrr... wait... Biden, come here! Whaddo I do with this guy?

Joe Biden: Hello! I'm Joe Biden! I'm from Scranton, PA!

Dr. Evil: I demand 10 trillion dollars from the United States of America by Presidents' Day!

Biden and Black Guy Taking Advantage of Free Public Housing in Washington: [hysterical laughing]

Dr. Evil: What!?! Why are you laughing! Didn't you hear me? I want 10 trillion dollars by Presidents' Day or ACORN will be filled with plague mice! What! Stop laughing!

Black Guy Taking Advantage of Free Public Housing in Washington: [in between laughs and coughing] What? Did you get frozen in 2008 or something? 10 trillion dollars! [falls over laughing again]

Biden: [gasping] We just spent that to sod the lawn and build a couple of ATV trails and a frisbee golf course! [laughing again]

Dr. Evil: ummmm... errr... you heard me wrong... your call is breaking up.. must be...errr... White House phone system running on Windows XP... I said errrr... 10 quadrillion dollars! yeah....

Biden and Black Guy Taking Advantage of Free Public Housing in Washington: [faints]

Dr. Evil: Hello! Hello? Damn it! Some one get the the after hours number for Hillary Clinton!

Posted by: Damiano at February 09, 2009 07:31 PM (cfKer)

OK, so what kind of investing does one do in a Socialist Utopia?

ACME industrial ovens.

ACME chainlink fence

ACME Chemicals

Posted by: Iblis at February 09, 2009 07:31 PM (9221z)

And, by the way, I'M NOT PAYING FOR ALL OF THIS.

Can't determine my mehod yet - go John Galt, move to a New Country, .... other ideas?

Posted by: Lil at February 09, 2009 07:33 PM (8o7yQ)

A better question would be, "How do we defeat the Democrats who hate America?"

The answer to your question is simple. How did we defeat all the socialist programs, Social Security, Welfare, Medicare, etc., that came in during the last fiscal crash of this magnitude and the party that only who supported them that only grew larger.

What's that you say? We didn't defeat them they only grew larger with time as did the party that supported them?

Oh.

You wanna know where to invest for the future., look east. Our competitive advantage is circling the bowl.

Posted by: JackStraw at February 09, 2009 07:36 PM (VW9/y)

i can't wait till society breaks down to a lord of the flies senario. see how the sunshine and unicorn lovers like me then.

holy fuck the transportation secretary ray lahood has already received his o approved lobotomy. what a fucking idiot.

anyone ever see that south park episode where cartman doesn't find anything funny anymore.... thats how i feel right now but with hatred.

Posted by: unamerican hate mongering evil libertarian aka e.koenig at February 09, 2009 07:36 PM (2J+Vs)

Agree with the comments above re don't let the MSM spin trick you into echoing it.

Another thing we have to do (and get the Republicans to do) is relentlessly mock Obama's intelligence. He has a glass jaw, and he will do and say stupid things when he gets irritated, which he does easily. That is the only way to get the truth out about what a piss poor leader he is... unless you are expecting the MSM to suddenly develop a sense of ethics. In that case, I have a great discount I"ll give you on this really cool bridge I own in Brooklyn...

Posted by: sherlock at February 09, 2009 07:37 PM (8V5Ut)

71 It's beginning to build all across the country, and when the people have had enough, there will be a clear message sent to the government. I am not suggesting an armed intervention, but something on the order of refusal to serve on Federal Juries, file 1040's, cooperate with any Federal agency, or other more devious balks.

Posted by: Fish at February 09, 2009 07:37 PM (CG+cG)

72 OK, so what kind of investing does one do in a Socialist Utopia?

- Fish barriers
- Frisbee golf equipment
- ATV trail turf
- H1B workers with skills in medical database development and maintenance
- wagyu steak
- brown shirts

Posted by: Damiano at February 09, 2009 07:37 PM (cfKer)

73 Wow, you guys are crazy fucked.

Posted by: Your Friends From The Weimar Republic at February 09, 2009 07:37 PM (GVfPy)

74 Asher@2. That was my first thought, too. Who's making the fucking list, and when do they get held to account for their words and deeds?? What makes them so fucking untouchable? If someone broke into my home to steal, I'd kill him. These guys steal from us, we're compelled to pay or we get thrown in jail. When do we do something about this, AITYKWIM?

Posted by: Stitches at February 09, 2009 07:38 PM (gtjgO)

75 Thank god we have a smart government now!

Posted by: Lemmiwinks at February 09, 2009 07:38 PM (CiVat)

76 2/3rds of the value of everything we made last year

Worse than that. It's 2/3 of the value of everything we thought we made last year, including the enormous amount of leverage that has since come out. $10 trillion is probably greater than the de-levered GDP equivalent.

Posted by: Andy at February 09, 2009 07:38 PM (B+HYX)

77 I picked the wrong week to cut back on my drinking.

Posted by: Techie at February 09, 2009 07:39 PM (906oR)

i can't wait till society breaks down to a lord of the flies senario. see how the sunshine and unicorn lovers like me then.

The problem with this is the people will just get more scared and give over more power to the government - just what they want.

Posted by: Lil at February 09, 2009 07:39 PM (8o7yQ)

79 $3.2 million dollars per job created.

Posted by: Lemmiwinks at February 09, 2009 07:41 PM (CiVat)

re #53

if this is true, and i have no reason to doubt it, what group of ppl would have the resources to accomplish such a bank-run?

who would be crazy enough to be willing to crash the world economy to destroy America?

are we under attack?

Posted by: shoey at February 09, 2009 07:42 PM (RxUMK)

$3.2 million dollars per job created.

How much for every job preserved?

Posted by: FireHorse at February 09, 2009 07:43 PM (5KNeJ)

82 The problem with this is the people will just get more scared and give over more power to the government - just what they want.

I only hope I am not alive/here when this plays out. The next step after the death of a democracy is a dictatorship. The people will want security more than liberty.

K

Posted by: Kestrel♠ at February 09, 2009 07:43 PM (Pfhxf)

83 Well, hopefully the voters will Do Something Dramatic in 2010 - Like Toss the Liberals Back in the Looney Bin They Belong In.

If the economy tanks - which I think the combination of Obama's own apocalyptic rhetoric and deficits so mind blowingly huge they cause US debt unsell-able overseas and hyperinflation at home - the Republicans are now poised to exploit politically in 2010 with dramatic gains.

The first order of business when they are back in power: subpoena, subpoena, SUBPOENA everyone and their liberal brother to find out what funds went to what liberal radical group... as well as to, of course, just fucking mess with them. PAYBACK IS BASTARD, BITCHES!!! YOURS IS COMING!!!! An elephant never forgets.

Posted by: CoolCzech at February 09, 2009 07:43 PM (iafWn)

84 If this doesn't scare you, read Walter Williams' There is No Santa to help you get a better understanding of how serious this can become.

Posted by: gmsc at February 09, 2009 07:44 PM (AMrHH)

85 71 It's beginning to build all across the country, and when the people have had enough, there will be a clear message sent to the government. I am not suggesting an armed intervention, but something on the order of refusal to serve on Federal Juries, file 1040's, cooperate with any Federal agency, or other more devious balks.

Posted by: Fish at February 09, 2009 07:37 PM (CG+cG)

Dammit! But I wanted an armed intervention!

Posted by: Rambo without a Country at February 09, 2009 07:45 PM (bcK3v)

86 This is some epic whatthefuckery right here.

I never would have believed that in my lifetime, I'd see the total and complete destruction of this country.

I thought the Carter years were bad...

Posted by: UncleFacts at February 09, 2009 07:47 PM (M+Vfm)

WTF at February 09, 2009 07:24 PM (OzFyV)

Yea, no shit. Maybe now more people will start to understand why TARP was so crucial and was not, is not and never will be like any other financial bailout.

A little knowledge is a good thing.

Posted by: JackStraw at February 09, 2009 07:49 PM (VW9/y)

88 Well, hopefully the voters will Do Something Dramatic in 2010 - Like Toss the Liberals Back in the Looney Bin They Belong In.

$4B for ACORN--won't matter who the voters want.

Posted by: HeatherRadish at February 09, 2009 07:49 PM (aK1+D)

89 Why do I have so many Les Mis songs running through my head?

Posted by: outraged at February 09, 2009 07:50 PM (penCf)

90

So who pulled that half billion out so close to the fuckign elections???????????

WHAT THE FUCK. SOME motherfucker did that...

Posted by: Senator, Advisor Rev. Dr. E. Buzz Miller at February 09, 2009 07:50 PM (cTHpq)

I am not suggesting an armed intervention, but I could be persuaded otherwise.

Have lost a couple of steps, slightly paunchy, gray headed, but still remember stick & rudder. Bombs away!

Posted by: Fish at February 09, 2009 07:51 PM (CG+cG)

WHAT THE FUCK. SOME motherfucker did that...

No proof but if I was betting my money would be on a consortium of Soros money.

Always follow the money.

Oh and btw, it was a half TRILLION not billion.

Posted by: JackStraw at February 09, 2009 07:54 PM (VW9/y)

93 OK, so what kind of investing does one do in a Socialist Utopia?

Politicians. Start small with a county councilman or two and work your way up. After 10 or 20 years you'll be making money hand over fist and buying and selling Senators with the big boys.

Posted by: Heorot at February 09, 2009 07:54 PM (o9TTZ)

94 But wait, there's more! Drudge has it that CA (who else) is about to release tens of thousands of inmates to 'relieve overcrowding.' But don't worry, this will "not endanger public safety." Lessee, what's that word I'm looking for...oh yeah, sanitarium. And we're fucked.

Posted by: Stitches at February 09, 2009 07:55 PM (gtjgO)

95 which country holds the most US Treasury bills?

Posted by: shoey at February 09, 2009 07:56 PM (RxUMK)

96 Now that his Raw Deal has passed, what the fuck is President Shit Sandwich going to talk about in his Address to the Minions?

Posted by: Waterhouse at February 09, 2009 07:58 PM (IFNNU)

97 Are "we" going to live blog the Messiah's national stimulus commercial? I can't make myself watch but would love to hear responses.

Posted by: Trish at February 09, 2009 07:58 PM (0U5Kd)

98 He is late again.

Posted by: hmmmm at February 09, 2009 08:00 PM (zplc6)

99 how many countries are calling for a new world currency?

Posted by: shoey at February 09, 2009 08:00 PM (RxUMK)

100

which country holds the most US Treasury bills?

Starts with C and ends with hina.

How you rike me now, comrade?

Posted by: JackStraw at February 09, 2009 08:01 PM (VW9/y)

101

He even walks cool.. he's so, just, i don't ... great

Posted by: shoey at February 09, 2009 08:02 PM (RxUMK)

102 if you can't beat them with bullets, you might be able to drown them in debt, but only if they've been stupid enough to let you pile up enough of their money to allow it, which we have

Posted by: shoey at February 09, 2009 08:05 PM (RxUMK)

103 Maybe now more people will start to understand why TARP was so crucial

Ah, the fun we had here trying to explain this when it was happening. Good times, good times.

The TED spread was over 400bps then, and overnight LIBOR had jumped to 6.875%. Now the TED spread's under 100bps, and overnight LIBOR's down to 30bps, reflecting all the programs that governments and central banks around the world put in place.

The crisis has been dealt with. Now those fuckers in congress need to go pencils down and let the global economy adapt to the massive deleveraging that just took place.

Posted by: Andy at February 09, 2009 08:05 PM (B+HYX)

104

I'm confused. Elkhart is the home of motor homes. There is no bigger civilian polluter than a motor home. Things get about 0.007 miles per gallon and create holes in the ozone wherever they park. They are fucking evil.

Why do I give a fuck if those evil people who make motor homes are starving if a single polar bear gets another iceberg to live on?

Economics is hard.

Posted by: JackStraw at February 09, 2009 08:05 PM (VW9/y)

105 He's blaming Bush's tax cuts for the crisis we're in?

Gee, sub-prime loans had nothing to do with this, hmm??

Posted by: CoolCzech at February 09, 2009 08:06 PM (iafWn)

106 Did you all read the opinion article at the Bloomberg site, "Ruin Your Health With Obama's Stimulus Plan"? It was written bt Betsy McCaughey. Talks about they will control all aspects of your healthcare: meds, treatments, etc. Also says old people will suffer the most because treating age related illnesses is not cost effective. Everyone needs to read this article.

Posted by: outraged at February 09, 2009 08:07 PM (penCf)

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"we are creating the worst economic recession since the G.D. if you ppl would all shut up and leave us alone, we'd have already wrecked the joint..."

Obama to English translation

Posted by: shoey at February 09, 2009 08:12 PM (RxUMK)

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If this doesn't scare you, read Walter Williams' There is No Santa to help you get a better understanding of how serious this can become.

Posted by: gmsc

Thanks for that link. This part of William's article worries me most:

The stimulus package being discussed is politically smart but economically stupid. It's that bedeviling, omnipresent Santa Claus and Tooth Fairy problem again. Let's say that Congress taxes you $500 to put toward creating construction jobs building our infrastructure. The beneficiaries will be quite visible, namely men employed building a road. The victims of Congress are invisible and are only revealed by asking what you would have done with the $500 if it were not taxed away from you. Whatever you would have spent it on would have contributed to someone's employment. That person is invisible. Politicians love it when the victims of their policies are invisible and the beneficiaries visible. Why? Because the beneficiaries know for whom to vote and the victims do not know who is to blame for their plight.

So if the economy improves, which we all hope it will, even if the improvement has nothing to do with the stimulus, democrats will claim that their policies worked. We are screwed.

Posted by: Domme at February 09, 2009 08:15 PM (3xHU0)

112 Big O, of course, is in the middle of a campaign stop... err, press conference.

I find it amazing he concludes that somehow tax cuts have been discredited by history, and yet he apparently totally missed the fact that decades of history now have shown that "fiscal stimulus's" are a pack of BS.

Posted by: CoolCzech at February 09, 2009 08:20 PM (iafWn)

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The Capital Markets Subcommittee Chair, Rep. Paul Kanjorski of Pennsylvania, tells C-Span how the world economy almost collapsed in a matter of hours.

Knowing politicians, there may be a tiny kernel of truth buried somewhere in this story.

Posted by: flenser at February 09, 2009 08:23 PM (DcgMX)

115 Did he finish answering Question 1 yet? 'Cause he lost me 5 min. or so ago...

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Posted by: can't give up the meme at February 09, 2009 08:25 PM (PD1tk)

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What a lying cunt. This is all the fault of banks.

Are there no Republicans left. Anywhere?

Posted by: JackStraw at February 09, 2009 08:29 PM (VW9/y)

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only hope I am not alive/here when this plays out. The next step after the death of a democracy is a dictatorship. The people will want security more than liberty.

K

They already do.

Posted by: unseen at February 09, 2009 08:33 PM (aVGmX)

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Posted by: '80sBaby at February 09, 2009 08:36 PM (zmiSr)

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122 So the bank run that occurred last September, is there any ongoing investigation into this? Man, I smell a HUGE story if one could trace who was orchestrating that attempted transfer of 550 Billion dollars in a matter of hours. My money is on Soros. Plus, he's done this shit before. Too bad the DOJ is busy checking out M. Steele.

Posted by: CDR M at February 09, 2009 08:38 PM (TJoU6)

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The TED spread was over 400bps then, and overnight LIBOR had jumped to 6.875%. Now the TED spread's under 100bps, and overnight LIBOR's down to 30bps, reflecting all the programs that governments and central banks around the world put in place.

Dude, those are just numbers. They don't take into account feelings. It's all about feelings.

Posted by: JackStraw at February 09, 2009 08:46 PM (VW9/y)

124 Can Barry PLEASE stop saying Pah-kee-stahn?

He's the only guy in the friggin' country that says it that way: yes, Barry, we know, we KNOW how smart you are! Now speak normal, will ya??

Posted by: CoolCzech at February 09, 2009 08:51 PM (iafWn)

125 Didn't the Democrats always have a rebuttal after every Bush press conference?

Are the Republicans gonna have Gollum's Asshole... err, Specter... give the RINO response?

Posted by: CoolCzech at February 09, 2009 08:52 PM (iafWn)

126 Christ, now he's talking about how we do not torture, etc. (which, of course, Bush always said also) What does he call exporting prisoners to other countries to be "interrogated"?

What a hypocrite.

Posted by: CoolCzech at February 09, 2009 08:54 PM (iafWn)

127

well as long as teachers get paid more to turn out a pile of steaming shit every year and call it education i'm cool with it.

Posted by: unamerican hate mongering evil libertarian aka e.koenig at February 09, 2009 09:01 PM (2J+Vs)

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Jesus, that was the most contrived bullshit I have ever seen. HuffPo? HuffPo!

Fuck me. We are doomed.

Posted by: JackStraw at February 09, 2009 09:03 PM (VW9/y)

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Nappa: This stimulus...these bailouts...what does Bloomberg say about their dollar value?

Vegeta: They're worth $10 trillion. Wait...$1 trillion is $1000 billion, so $10 trillion is...IT'S OVER NINE THOUSAAAAAAAND!

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During my time there, the exchange rate went from ₳3:$1, to ₳10,000:$1 in two short years. Hyperinflation, rationing, attempted coups, incompetency, strikes, and desperation were the order of the day. We are on the brink of becoming what Argentina and other socialist countries are if we allow the government to wrap its tentacles around every single thing we hold dear, starting with our liberty.

Just a cheery thought to start your week.

Posted by: Bedtime stories at February 09, 2009 11:04 PM (Iu9AF)

135 WTF's link seems to explain what they mean when they keep saying Armageddon. But how do we know it still is not going to happen? More people are defaulting on loans, and Fannie Mae is making more bad loans.

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