2008

Jake snuck this one out on me or I didn’t see it, one of the two!

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Our weekly vlog/podcast on illegal immigration and border security issues. In this weeks edition…

The subprime meltdown: a basic issue of fairness?

You do the math: California calls for $7 billion bailout, where’d the money go?

100% Preventable! Americans continue to pay the bloody price for open borders. When will the madness end?

Download for your Ipod here.

Make sure to visit this weeks sponsor….

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If you’d like to sponsor a show contact us here.

This has been the Blogs For Borders Video Blogburst. The Blogs For Borders Blogroll is dedicated to American sovereignty, border security and a sane immigration policy. If you’d like to join find out how right here.

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From the Dept of “Oh, The Irony of it all!” – Bailout Managers may be buying own troubled securities

Now this is real cute here!

This via the AP:

The government’s plan to make sure private managers of a $700 billion bailout plan are free of conflicts of interest is weak, according to some critics, and allows too much room for abuse.

The Treasury Department is in the process of hiring financial experts to run the giant, taxpayer-financed fund, created by the legislation that President Bush signed on Oct. 3.

The law allows the department to offer contracts that are not governed by federal procurement regulations, but requires it to draw up conflict-of-interest guidelines.

Interim guidelines released last week require applicants to disclose “any actual or potential conflicts of interest” that may come into play. Applicants must submit a plan to show how they will “avoid, mitigate or neutralize” such conflicts.

While Treasury employees will oversee the plan, there does not appear to be anything in the rules that requires the government to make sure the applicants are being truthful.

“It basically says that these companies are responsible for disclosing their own conflicts of interest,” said Laura Peterson, a senior policy analyst for Taxpayers for Common Sense, a private watchdog group. “And they are then responsible for coming up with a plan to fix them. Nowhere in there does it say Treasury will also be doing due diligence.”

Treasury can waive the conflict-of-interest provision.

I highly suggest that you read the rest of that article. Because if this reads like I think it does. The Government is going to allow the very people that caused this whole Wall Street mess to buy these troubled mortgages back and basically make a profit off of them.

Irony, thy name is Washington D.C.

Technorati Tags: Corruption, Government, Housing Crisis, News, Wall Street, Wall Street Crisis, Washington DC

Blogs for Borders for 10/06/08: Special Interview with Peter Brimelow

Once again, like a ding-a-ling, I forgot to post the weekly Blogs for Borders show here.

This week an 3 part interview with the Owner and Publisher of VDare.com, Peter Brimelow.

….and before anyone calls this man and his website racist, please, read this.

Here is the show:

Part 1:

Part 2:

Part 3:

Books By Peter Brimelow:

Technorati Tags: America, Banking Crisis, Blogs, Borders, Christanity, Conservative, Consitution, Economy, Editorial, First Admendment, Freedom of Speech, Libertarian, Nationalism, Opinion, Politics, Race Baiting, Republican, Republicans, Ron Paul, Sub-Prime Loans, Terrorism, Wall Street Crisis, War, War on Terrorism, mexico

Brutally Honest: I have lost all faith in the Republican brand

I have held off on Blogging about the recent events here in the election. Partially because of personal reasons, I was a bit busy doing some other stuff with my family and partially because I quite honestly have no defense for what I see as just abject and absolute racism and the stoking of racial hatred in this country, by the party that claims to be the party that liberated blacks from slavery.

Whether the Republican Party or the Conservatives want to admit this or not, but Sarah Palin is doing nothing more than bringing shame to the Republican Party. With her attempting to paint Barack Obama as some sort of terrorist, her allowing and even encouraging people to accuse him of treason and even allowing someone to utter a death threats aloud. I will say this, and if anyone wants to try to paint me as a Liberal, feel free, I just do not care anymore, The Republican Party that I am seeing right before my eyes, is not the Republican Party that I remember as a young boy. This crap is not the Ronald Reagan conservatism that I grew up admiring and respecting. As far as I am concerned, the Republican Party has become a Ku Klux Klan without the robes.

I believe that it is fair and very important to note, that Sarah Palin has ties to terrorism too. Her Pastor was and still is a terrorist by the Bush Administration’s definition. Before he became the Pastor of Wasilla Assembly of God, which she attended for many years, Pastor Thomas Muthee was a missionary to the country of Africa, while there; he decided that there was a local woman in the town of Kiambu, of the name “Mama Jane” who was by his own definition “A Witch.”

Eventually, after repeated harassment by the local law enforcement there, she fled the town. Furthermore, Sarah Palin’s own husband was a member of the Alaskan Independence Party, until 2002, of whom its founder, Joe Vogler said, “I’m an Alaskan, not an American. I’ve got no use for America or her damned institutions.” Joe Vogler was killed in 1993 he is buried in Canada.

Therefore, having said all the above, it is apparent to this writer; that Sarah Palin is nothing more than an abject hypocrite. By her and her party’s definition of “Terrorist,” she is guilty of the very same charges.

I am sorry to say this, but if John McCain continues to allow this sort of nonsense to continue in his campaign, especially when the Nation’s economy is in the damned toilet. When our stock market and financial institutions are being propped up by the United States Government due to a lack of regulation, which was caused by the utter incompetent of one political party and the inaction of another that was in the majority for over 6 years. If John McCain allows this sort of idiotic nonsense to continue, the Republican Party is going to lose and lose very hard, come this election in November.

Technorati Tags: Barack Obama, Biden, Democrat, Democrats, Economy, Editorial, Election ’08, Election 2008, Government, Housing Crisis, Joe Biden, John McCain, McCain, Obama, Opinion, Politics, Sarah Palin, Wall Street Crisis

Dow Plunges, Global Markets suffer as well…

I haven’t posted today, because I have been watching the market and doing a little paper trading (fake money…not real)

Here’s the official story via the AP:

Wall Street tumbled Monday, joining a selloff around the world, as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the U.S. and other governments. The credit market remained under strain, and investors piled into government bonds. The Dow Jones industrials skidded more than 300 points and fell below 10,000 for the first time in four years.

The markets have come to the sobering realization that the Bush administration’s $700 billion rescue plan won’t work quickly to unfreeze the credit markets, and that many banks are still having difficulty gaining access to cash.

Here is the Dow Chart:

The line to the left of the vertical slash, is the market today. Oh yeah, it’s that ugly…

On the other hand, Gold is looking very promising:

(charts from thinkorswim.com)

My advice to everyone, if you nervous, sell what you’ve got and invest in Gold.

More gold Charts:

So much for that “Bailout” eh?

Technorati Tags: Gold Prices, Government, Housing Crisis, Opinion, Politics, Silver Prices, Stock Market, Sub-Prime Loans, Wall Street, Wall Street Crisis, Wealth

"Bail out" Bill passes first hurdle, goes to the house

Hurdle one passed, now let’s see if it makes it out of the House.
Senate endorses bailout as economy stutters (Via Reuters):

The Senate endorsed a revised $700 billion plan to tackle a financial crisis that has shaken world markets and drawn warnings of approaching economic catastrophe.

The plan now faces a final hurdle in the House of Representatives, which rocked global markets this week by rejecting an earlier version. President George W. Bush, speaking after Wednesday night’s 74-25 Senate vote, called the bailout “essential to the financial security of every American”.

Personally, I expect the bill to pass the House. Because Democrats and Republicans both agree that this thing is needed, badly. What I do expect to continue to see is a resistance amongst fiscal conservatives amongst the grass roots. Not that I think that there’s anything wrong with it. Because personally, like I’ve said on here before. I am just not that thrilled with the idea of our banking system being nationalized. However, from a middle class stand point and from the standpoint of someone who lives in a state where unemployment is higher than the rest of the country. I think allowing our economy to grind to a halt is just not a smart idea.

Blogs 4 Borders! 09/29/08

I missed this on Monday. Hopefully I will remember next week….

Our weekly vlog/podcast on illegal immigration and border security. In this weeks edition…

Vigilance Dispatch: Everyone is talking about the massive bailouts. How has illegal immigration fed into the financial crisis that Washington plans to fix using our taxpayer dollars?

100% Preventable! Americans continue to pay the bloody price for open borders, when will the madness end?

Blogs For Borders 09/29/08

Download for your Ipod here.

Make sure to visit this weeks sponsor….

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If you’d like to sponsor a show contact us here.

Here are some books that I highly recommend that everyone read, related to this subject:

Technorati Tags: America, Blogs, Bob Barr, Books, Borders, Bush, Cheney, Chuck Baldwin, Communist, Congress, Conservative, Consitution, Corruption, Democrat, Democrats, Economy, Election ’08, Election 2008, First Admendment, Freedom of Speech, Globalism, Government, Housing Crisis, Identity Politics, Jobs, John McCain, Law, Liberal, Liberals, Libertarian, Libertarian Party, Mark Levin, Michelle Malkin, Michigan, Nationalism, Neo-Conservatives, News, Opinion, Politics, Race Baiting, Religion, Republican, Republicans, Stupidity, Sub-Prime Loans, Terrorism, Wall Street Crisis, War on Terrorism, Washington DC, Waste, Wealth, White House, Whites, constitution party, crime, deportation, illegal immigration, justice, mexico, open borders

Think the bailout failure just affected the US?

Think again…

The failure of this bailout plan is affecting the world markets as well, according to the BBC.

The markets affected are:

The UK’s FTSE 100 index was up 0.18% or 8.5 points to 4,827 by 12:00 BST, while Germany’s Dax was 0.9% lower at 5,756 and France’s Cac was down 0.2% to 3,949
Banking shares were the biggest fallers in London, as concerns grow about how the delay in securing a US rescue deal will hit the financial system
HBOS was down 12%, Royal Bank of Scotland was 6% lower
Japan’s Nikkei index ended Tuesday down 4.1%, while Hong Kong’s Hang Seng rose 0.8%
In Russia, trading was temporarily suspended on the country’s two main stock markets
In the Republic of Ireland, the government announced that all bank deposits would be guaranteed for the next two years
European bank Dexia has received a state bail-out, costing the Belgian, French and Luxembourg governments a combined 6.4bn euros ($9.2bn; £5bn)

So, this isn’t just an American crisis, this could very well turn into a world crisis, and from the looks of it, the crisis has already started.

Technorati Tags: Economy, Opinion, Politics, Wall Street Crisis, World News

More thoughts on the Bailout and it's effect on our Economy

I hate to admit it, but I agree with this…. Sort of…

Via RealClearMarkets – “In Times of Crisis, Trust Capitalism”:

The biggest bank failure in the history of the United States happened last Thursday night and by Friday morning, it was business as usual. The only difference was the name on the door and the losses suffered by those unfortunate enough to invest in Washington Mutual bonds or stock. The taxpayers didn’t lose anything and depositors didn’t lose anything, only investors. That is how capitalism works in case everyone has forgotten.

The “crisis” we face today is not a creation of the market. Government intervention over many years (but especially the last year) is what brought us to the point where we’ve placed our hopes for economic recovery on the good intentions of a Congress facing re-election in a few weeks. There has been much commentary recently about the role of Fannie Mae and Freddie Mac in the creation and expansion of the sub-prime mortgage market which many believe to be the cause of this mess.

That criticism is certainly warranted, but little attention has been paid to the real culprit – the Federal Reserve. Furthermore, what attention there has been is concentrated on the role of Alan Greenspan rather than Ben Bernanke. While Alan Greenspan deserves his share of the blame, Bernanke’s contribution to this mess should not be minimized or excused.

I have something to add to this as well. The biggest problem with this all is, most of this money, that’s being lost, is not even our money, it’s China’s money! Also half of the money being printed, does not have any gold to back it up! This is why our inflation is so high. As Joseph notes above, our biggest problem with our nation’s Economy is the Federal Reserve. If we got rid of the Federal Reserve, and went back to the 100% Gold Standard, much of our Nation’s Economic problems would be solved. Not to mention, if we stopped getting money from China.

The only thing that I really disagree with here, in a way, is the assessment that this all will not affect the American Taxpayers. In a sense, it will affect the taxpayers. Because it will cause a overall stall in the economy. This will translate into a crunch in the business world, small and mid-size businesses that do not have a great deal of capital will not be able to barrow money for needed expenses. This will cause a overall tightening of the financial belt amongst the Small to mid-sized business and will force them to dump employees.

Locally here in Michigan, our unemployment is at 7%, last I checked, I expect that to soar and get even worse, if this continues. Personally, I have family members who are paranoid about their jobs being lost. I assume that those jobs will get even more unstable, if this wears on.

Not to mention the fact that Taxpayers are watching their 401K’s and retirement nest eggs go down the tubes as well. That affects Conservatives who do not believe in using Social Security as a form of income. So, in a matter of speaking, this is going to effect everyone. In the form of Jobs, Retirements, 401k’s and more much.

Technorati Tags: Detroit ,Economy ,Housing Crisis ,Local ,Michigan ,Opinion ,Politics ,Wall Street ,Wall Street Crisis