Tag: Wall Street

Not everyone is sold on the iPad

Irk! Now this is not a good thing to read:

Gadgets come and gadgets go. The iPad you buy today will be e-waste in a year or two (less, if you decide not to pay to have the battery changed for you). The real issue isn’t the capabilities of the piece of plastic you unwrap today, but the technical and social infrastructure that accompanies it.

If you want to live in the creative universe where anyone with a cool idea can make it and give it to you to run on your hardware, the iPad isn’t for you.

If you want to live in the fair world where you get to keep (or give away) the stuff you buy, the iPad isn’t for you.

If you want to write code for a platform where the only thing that determines whether you’re going to succeed with it is whether your audience loves it, the iPad isn’t for you.

via Why I won’t buy an iPad (and think you shouldn’t, either) – Boing Boing.

I have to give props to Mr. Cory Doctorow for his brutal honesty. The article is quite the good read; from a standpoint of someone, who does not even own a iPod, much less an iPhone! 😀 I mean, I am just not big into, what I like to call, useless gadgets. To me, a phone is for making phone calls. Not for sitting there and playing games and all the crap you can do on them today. I mean, there is a thing called “Sexting” which is transmitting rather nasty pictures of one’s self over the internet. We never had to contend with stuff like that when I was a kid. (I am 37, by the way…) Besides that, you would not want to be transmitting naked pictures of my body anyhow; as I am almost sure it would cause someone great problems of the psychological sort to see me naked.

Now, from a greedy capitalist’s stand point; if I had a bunch of shares with Apple right about now and I saw this article. I would be asking for this guys head on a platter. I mean, just who the hell does this grumpy old jackass think he is? I am sure that Steve Jobs is not too happy about someone dissing his product, that he’s worked his rear end off to produce. On the other hand, this is just one man’s opinion of this product and I am sure that there are many others who have written that this is an exciting product to try.

The bottom line is this; we live in a free market, capitalistic society, and that free market will decide if this product is a smashing success or if it will be a flop. That is because that Free Market allows the PEOPLE, not the Government, to choose whether a product will be sold or even successful or not. Granted, it will take effort to make this happen; promotion by the company, the sales people and even the customer to buy the product. However the point is….. the freedom of choice is there. You can choose which product you wish to own by apple, all of them or none of them at all. That is the beauty of America. The only thing stopping you is your financial situation and also possibly your personal desire to own such product. Personally, even if I did have the money to own one of these iPads, I most likely would not own one. Because I personally do not see the point in owning such a thing. I have a very nice laptop, which suits my needs perfectly. I also do not see the point in owning something like this, and then having to own a iPhone or something similar, why not just put a camera and the ability to make phone calls in it as well? Again that is wonderful power of personal freedom and choice.

Now I could yammer on here about how the some of the Democrats and the socialists want to do away with all this freedom and change the system we have here in America. But I think everyone that reads this knows my position on those subjects. It also is not lost on me, where this thing is produced and the political positions of some of the people that will own one of these things.  However, I will not bring that into this discussion here, as I am blogging about an iPad. 😉 😀 😛

Update: Others Talking about the iPad: Pajamas Media, The Confluence, Althouse, Vanity Fair, Bits, Scripting News, VentureBeat and Gawker

Update #2: Message to AllahPundit: Do you really want to be known as the dude who owns a electronic gadget, who’s name basically invokes thoughts of a Electronic Maxi-Pad or Internet Maxi-Pad? Not if you are Beta-Male. I mean, you are already being called a candy-ass Rhino as it is; you do not need anymore help. I’m just sayin’ 😛

Video: Is the Stimulus Working?

This comes via R.S. McCain:

Obama announces spending freeze, Liberals heads explode

I am sure that you have already heard about President Obama’s proposed spending freeze.  I’m sure you also have read the reaction of the Blogosphere as well. To be blunt, the left is not happy at all. To see a representation of this, check out this video of Rachel Maddow going toe to toe with Biden’s economic guy.

Visit msnbc.com for breaking news, world news, and news about the economy

I have to give Rachel Maddow credit; She might be as left wing-dingy as a I am a right wing-dingy — But she sure as hell can make the Obama Administration explain themselves and defend their policies very well. So, I give her credit for that, she handled herself very well and did not give this guy a pass or go light on him. Color me quite impressed. Now, as for her politics, I disagree with it. Further more, the spending thing is nothing more than good political theater. See Rachel Maddow maintains that Obama would be pulling a Hover, sorry, that is just wrong. There are many things that have changed in way Wall Street and further more, the United States handles its affairs, since the big wall street crash of 1939 and the subsequent depression. Further more, it would help stop this out of control deficit that we have on our hands. Now, I will give her credit, she does rightly (Um, sorry, just a figure of speech) observe that this politically for the Obama Administration is a political blunder; because basically, Obama is doing what John McCain ran on in the 2008 election and lost. However, Obama’s guy explained that the cuts are not across the board. Hence my idea that it is nothing more than political slight of hand.

Further more, as much as I know this is going to make me sound like Pat Buchanan; (NTTAWT!) we need to repeal NAFTA and TAFTA and the rest of those Free Trade agreements with all these Countries. We need to go back to imposing tariffs on ALL imports from around the world. That would raise capital that our Nation so desperately needs. Now politically, that could cause us problems; but it would put a huge dent in our Nation’s debt to China. It would also encourage manufactures to build their products here in America, instead of overseas — and as an “America First” type of Conservative, that would make me extremely happy.  😀

Bottom Line: While Rachel might be good at interrogation, her hypothesis is just flat out wrong or at the least, overstated.

Are the Democrats jumping from the ship?

It is a plausible question, and an interesting one at that.  Are the Democrats now jumping from the bloated ship of socialist waste ever known to humankind?  Are Democrats preparing themselves for the “Nuclear Option” on healthcare?  The questions abound, the speculation is running rampant, and internet meme’s are burning up the bandwidth.  I, on the other hand, will tell you what I do know.

First off, let us start with the local story; Michigan Lt Governor John Cherry was expected to be the person to succeed Michigan Governor Jennifer Granholm at the helm of Michigan Governorship.  However, Democrat Governor Jennifer Granholm’s performance as Governor of this state has been less than stellar.  I ought to know this, I have lived here all of my life.  Double-digit unemployment, a one state recession that towered over the national recession for many years now; put quite bluntly, there are no jobs here in Michigan. Sure, there are jobs, if you want to work in a fast food joint, making minimum wage.  However, if you happen to be a 37-year-old man, looking for a decent paying, full time job, with health insurance — you are frankly out of luck.

However, to be fair, some of Michigan’s woes cannot be laid at the feet of the Democratic leadership.  GM’s credit crisis cannot be blamed entirely on the Democrats, at least not the current ones in office here in Michigan.  GM and Chrysler’s troubles are a direct result of the mortgage crisis, which was caused by President Jimmy Carter and President Bill Clinton and that idiotic piece of legislation that opened up the mortgage market to high-risk individuals.  When the credit markets froze up, due to the stock market crash and subsequent credit freeze, the big three found themselves in the middle of it.  This is my biggest issue that I have with the “Republicans” or those within the Conservative movement.  They always, without fail, blame the unions for the troubles of the big three; when in all honesty, unions had zero to do with the meltdown or its effect on the automakers.  The entire mess was, in fact, lack of proper regulation in the mortgage industry and the stock market in regards to credit swaps that caused this whole mess in the first place.  Sorry to my fellow Conservatives, but I am just not buying that talking point.

However, it would be fair to mention that the unions did play a role in the financial woes of the big three, as did the big three’s failure to listen to the automotive experts, who saw what Japan was doing in the 1970’s and their arrogant attitudes.  The big three could have saved themselves much heartache, by building smarter, higher quality vehicles.  However, by the time the big three got around to embracing the ISO standards, it was too little, too late.  As for the talking point of Union workers making too much money, I find it amazing how many Conservatives have axe to grind with those who simply want to make a decent working wage.  Most of the people that make these idiotic claims are those who are making more than two hundred and fifty thousand a year and have no financial worries at all; but they want to rip away the comfortable living of others.  Do you see now why I have not voted “Republican” yet?

Another point that I feel that is important to make, is the fact that the big three are just designing some of the most god-awful looking car nowadays.  Heck, even the trucks are now getting just plain butt-ugly.  Does it make any damned sense to build cars for every day Americans that look like they taken from the pages of a twenty fifth century comic book?  Whatever happened to graceful, classic designs from the 1950’s, 1960’s and 1970’s?  Those were real cars back then, now all the big three can produce is glorified garbage — and do not even get me started on the idea of an electric car, now that is a idea that is going to go right straight were the Chevy EV1 went, right straight into the scrap heap.

Now back on the subject of politics, it seems that Chris Dodd, going to retire.  Getting sweetheart deals on a house mortgage can do that to a fellow, especially when people in your district are losing their houses left and right.  I also notice that Bryon Dorgan is also retiring; he supported Obama’s healthcare plan, which made him damaged goods.  I also notice that Colorado Governor Bill Ritter is withdrawing from that race — corruption will do that to a fellow.

Now what is my personal take on these retirements and how it affects the 2010 elections?  My take is this; I believe that there are going to be some very big upsets come election time.  Now, I do not necessarily see a Republican wave or anything like that.  However, I do see a drastic change in Washington D.C.  I do also see a “defanging” of the socialist monster that exists on Capitol Hill right now.  As for the Governor’s race here in Michigan, I believe that the Republicans can win Michigan, but they are going to have to work to earn the trust of the American people.  It would take some very hard work and some massive breaking of some very established political rules to do it.  However it can be done.  The people of Michigan want real answers, real results, not political grandstanding, and platitudes.

It is going to be a very interesting 2010.  I look forward to writing about it and giving you my take.

Quote of the Day

Barack Obama ran for president as a man of the people, standing up to Wall Street as the global economy melted down in that fateful fall of 2008. He pushed a tax plan to soak the rich, ripped NAFTA for hurting the middle class and tore into John McCain for supporting a bankruptcy bill that sided with wealthy bankers “at the expense of hardworking Americans.” Obama may not have run to the left of Samuel Gompers or Cesar Chavez, but it's not like you saw him on the campaign trail flanked by bankers from Citigroup and Goldman Sachs. What inspired supporters who pushed him to his historic win was the sense that a genuine outsider was finally breaking into an exclusive club, that walls were being torn down, that things were, for lack of a better or more specific term, changing.

Then he got elected.

Hey America, Welcome to my World!

Just wanted to be nice about it.

Welcome to my World!

Via The Old Grey Lady:

The United States economy shed 190,000 jobs in October, and the unemployment rate reached a 26-year high of 10.2 percent, up from 9.8 percent in September, the Department of Labor said Friday in its monthly economic appraisal.

While the pace of job losses has slowed significantly since the peak of the recession last winter, the unemployment rate, which measures the number of people actively seeking work, continues to climb, and economists do not foresee relief until well into next year.

“There’s no doubt that the slashing and burning of jobs has abated quite a lot,” said Allen L. Sinai, the founder of Decision Economics, a research firm. “The economy is recovering, but it is a very soft recovery.”

The biggest losses came in the construction, manufacturing and retailing sectors. Health care companies added 29,000 jobs to their payrolls, and the number of temporary workers increased by 34,000 — a significant gain that could indicate employers are beginning to expand their businesses again.

The Labor Department also revised September’s losses to 219,000 from 263,000.

Dean Baker, a director for the Center for Economic and Policy Research, said he did not expect declining unemployment rates until next spring. “We may be looking at very high levels,” Mr. Baker said, “barring a policy response, for several years into the future.”

Um, Why should there be any policy response? I believe that we are already tapping our resources to the limit now.

On Thursday, in anticipation of the unemployment report, Congress overwhelmingly voted to extend benefits for jobless workers for up to 20 weeks. That will soothe the short-term financial pain of many families, but demands for a new wave of government relief may intensify if companies continue to cut back.

Yes, let’s encourage people NOT to look for a job and continue to spend ourselves into a hole; by being a nanny state.

So far, the federal stimulus package has injected billions into local economies, giving states money, for instance, to finance construction projects or retain teachers. The housing and auto sectors have been propped up with government credits meant to encourage spending. But weak consumer demand and hefty labor costs are still forcing many employers to cut positions and reduce hours to survive.

So much for Hope and change!

The article goes on trying to defend President Obama, which is so typical for the New York Times, but it is quite obvious, this President has failed on all fronts, the stimulus, the bailouts —- everything. He is, in fact, a black Jimmy Carter.

Ed Morrissey says:

This is now Obama’s economy.  He owns the double-digit unemployment level, having bought it with the $787 billion stimulus plan that he promised would keep unemployment no higher than 8%.

I agree with that. Obama simply continued the bailouts that President Bush started, which was a huge mistake.

The AP Reports:

But the loss of jobs last month exceeded economists’ estimates. It’s the 22nd straight month the U.S. economy has shed jobs, the longest on records dating back 70 years.

Counting those who have settled for part-time jobs or stopped looking for work, the unemployment rate would be 17.5 percent, the highest on records dating from 1994.

Now, if I were a partisan Blogger, I would simply sit here and blame Obama for it all. However, I am a bit more smarter than this. This all goes to Carter and then to Clinton. This video from the Wayne County Republicans will explain:

These unemployment numbers are just a ripple effect of all of this. Bush had a hand in it, as well as Obama. This is what happens when you elect faux Conservatives as Republicans and it is what happens when you elect Socialists.


Ron Paul on the Fed

(H/T to the Daily Paul)

Okay, I will be the first to admit it; I do NOT agree with Ron Paul on Foreign Policy.

But he sure makes a hell of a great deal of sense; when it comes to economic policy.

Here he is on Bloomberg TV:

While I personally believe some of his followers are a bit goofy. The man himself, is another story.

…and let me give this fair warning. First idiot that comes in here and leaves a stupid comment about me being a damn Neo-Conservative will get sent to the damn twit filter so fast, it will make your head swim. 😡

White House asks New York Governor Paterson to drop out of election race

There has been quite a bit of discussion about this story in the Blogosphere already. Most of it has focused on the way that the White House handled the situation; which I will admit was less than professional. But the thing that I want to focus on, is why this is even happening.

First off, let us look at the New York Times Story:

Gov. David A. Paterson defiantly vowed to run for election next year despite the White House‘s urging that he withdraw from the New York governor’s race.

Appearing tired and agitated at a parade in Harlem on Sunday, the governor told a crowd of reporters that he would not abandon his campaign to seek a full term.

“I have said time and time again that I am running for governor next year,” he said at the 40th annual African-American Day Parade.

Mr. Paterson would not characterize what he was told by the White House, saying that he would not “discuss confidential conversations.”

“I’m not talking about any specific conversations,” he said. “As I said, I am running for office.”

President Obama had sent a request to Mr. Paterson that he withdraw from the New York governor’s race, fearing that Mr. Paterson cannot recover from his dismal political standing, according to two senior administration officials and a New York Democratic operative with direct knowledge of the situation.

The decision to ask Mr. Paterson to step aside was proposed by political advisers to Mr. Obama, but approved by the president himself, one of the administration officials said.

“Is there concern about the situation in New York? Absolutely,” the second administration official said Saturday evening. “Has that concern been conveyed to the governor? Yes.”

The administration officials and the Democratic operative spoke on condition of anonymity because the discussions with the governor were intended to be confidential.

First off the confidentiality part got blown out of the water, and the President’s communication went public. I believe that part was totally intentional. It basically was done to send a message to Governor; one of “Hey, you idiot! Get out of the race, because you are going to lose!”  That is pretty much a given.

My question is this; why all of the sudden are Democrats or more specifically the President of the United States asking the Governor of New York to drop out of an election race? I have an idea, and part of my explaining that reason is in this video, please watch it: (H/T HotAir)

Is it clear to you now? Well, in case it is not. I will explain. We Conservatives have taken control of the conversation. When I say “we”, I mean, the Conservative media, like Glenn Beck, who’s really an Independent; Bill O’Reilly, Who is a traditionalist and the rest of the talk radio world. Plus, you have the Conservative Blogosphere who were the forerunners in this fight. We were criticizing the President and polices from day one! The old media finally caught to us, oh, around three months later! This is why I had the screaming fit at Jim Hoft for linking to that site!  We have seized the ship and taken the wheel away from the socialist media; we cannot afford to screw it up!

We have the Democrats running scared; and when I say “We”, I mean everyone that is involved in this operation, the Conservative media, like Fox News and all of the little media guys, The Conservative Blogosphere; who have been on this President’s butt since the day he botched up the oath of office. The rest of America; after watching the stimulus basically flop and the economy not recover, after watching the Government bailout the big two (and not the big three; Ford did not take any money…) and assume control of these companies, and after those employees, like my Father, watched their Dental and Optical benefits disappear, after working 31 hard years for that Company. —– Those people are starting to pay attention to the situation and are wondering, “Hey, what on earth is going on here??” and let’s not even get into that whole Healthcare debacle! —- They were promised change, and so far, they have gotten nothing. Nothing but trillions of dollars of debt, that their grandchildren and great-grand children will paying for, for the rest of their lives.

The sad part about all this is that the Democrats have about used every trick in the book to stop this movement; and have failed horribly. First, it was the tactic of the Bush Administration; of calling everyone that is opposed to Obama’s polices as being Anti-American. Then they trotted out the fear card, saying that we who were against Obama were stirring up violent tendencies among the people. Now they have trotted out their last refuge and that is the race card. In fact, the Democrats have used that race card, so much in fact that now even the Associated Press is basically saying, “Um, Guys? You are overplaying that defense.” Even African-Americans are even starting cringe. The sad part is, that is all they have, and now as you can see, they are on the run.

So, what happens now? Do we quit? Oh, heaven’s no. We keep fighting; Bloggers keep writing, Fox News and the media guys keep reporting, keep being critical of the President. It never ends, until the battle is over in 2012, and even then; whomever is elected, we criticize them too. That is what a Constitutional Republic with a free press does, and we Blogging folk, we are the independent, non-corporate media. The sixth estate, if you will.  We keep the Murdoch, the G.E. and the turner empires honest.  If they fall down on the job, we call them on it. That goes for Fox News, MSNBC, CNN, ABC, NBC, CBS, or whomever else is not doing their jobs properly.

We are in the battle of our lives, for our Country, for our freedoms. We must not quit, we must not grow faint. We must carry on.

“Finally, my brethren, be strong in the Lord, and in the power of his might. Put on the whole armour of God, that ye may be able to stand against the wiles of the devil. For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places. Wherefore take unto you the whole armour of God, that ye may be able to withstand in the evil day, and having done all, to stand. Stand therefore, having your loins girt about with truth, and having on the breastplate of righteousness; And your feet shod with the preparation of the gospel of peace; Above all, taking the shield of faith, wherewith ye shall be able to quench all the fiery darts of the wicked. And take the helmet of salvation, and the sword of the Spirit, which is the word of God:” (Ephesians 6:10-17 King James Version of the Bible)

Yikes! – About half of U.S. mortgages are seen to be underwater by 2011

Tim Geithner call your office!

The percentage of U.S. homeowners who owe more than their house is worth will nearly double to 48 percent in 2011 from 26 percent at the end of March, portending another blow to the housing market, Deutsche Bank said on Wednesday.

Home price declines will have their biggest impact on prime “conforming” loans that meet underwriting and size guidelines of Fannie Mae and Freddie Mac, the bank said in a report. Prime conforming loans make up two-thirds of mortgages, and are typically less risky because of stringent requirements.

“We project the next phase of the housing decline will have a far greater impact on prime borrowers,” Deutsche analysts Karen Weaver and Ying Shen said in the report.

Of prime conforming loans, 41 percent will be “underwater” by the first quarter of 2011, up from 16 percent at the end of the first quarter 2009, it said. Forty-six percent of prime jumbo loans will be larger than their properties’ value, up from 29 percent, it said.

“The impact of this is significant given that these markets have the largest share of the total mortgage market outstanding,” the analysts said. Prime jumbo loans make up 13 percent of the total market.

via About half of U.S. mortgages seen underwater by 2011 | Reuters.

I wonder what “The One” will do about this? Cash for Refinancing?

Here’s why:

The drop in home prices is fueling a vicious cycle of foreclosures as it eliminates homeowner equity and gives borrowers an incentive to walk away from their mortgages. The more severe the negative equity, the more likely are defaults, since many borrowers believe prices will not recover enough.

Homeowners with the riskiest mortgages taken out during the housing boom have seen the greatest erosion in equity, in part because they were “affordability products” originated at the housing peak, Deutsche said. They include subprime loans, of which 69 percent will be underwater in 2011, up from 50 percent in March, Deutsche said,

Of option adjustable-rate mortgages — which cut payments by allowing principal balances to rise — 89 percent will be underwater in 2011, up from 77 percent, the report said.

Regions suffering the worst negative equity are areas in California, Florida, Arizona, Nevada, Ohio, Michigan, Illinois, Wisconsin, Massachusetts and West Virginia. Las Vegas and parts of Florida and California will see 90 percent or more of their loans underwater by 2011, it added.

“For many, the home has morphed from piggy bank to albatross,” the analysts said.

It is classic; The textbook reason why you DO NOT give home loans to high risk persons. Because they are the first to lose their jobs when the economy takes a dump.  This is the invention of the Clinton Administration. But yet, no one on the left wants to blame slick willy. Call it the Clinton bubble, call it a huge screw up by the Democrats. I call it reality. Welcome to the Obama Economy and the Democratic Future, brought to you by Clinton stupidity.