Federal Reserve leaders laughed and joked while housing marker crashed

This is why the federal reserve needs to be reigned in or better yet, ended:

The leaders of the Federal Reserve went around the room saluting Alan Greenspan during his last day as chairman of the central bank. Then Timothy F. Geithner, the future Treasury secretary, made a prediction.
“I’d like the record to show that I think you’re pretty terrific, too,” Geithner, who was president of the Federal Reserve Bank of New York, told Greenspan amid laughter on Jan. 31, 2006. “And thinking in terms of probabilities, I think the risk that we decide in the future that you’re even better than we think is higher than the alternative.”
On Thursday, the Fed released transcripts of its meetings in 2006, offering a new window into what was on the minds of some of the nation’s top economic and financial thinkers just ahead of the financial crisis and subsequent great recession. The transcripts, which are customarily released after five years, show that Fed leaders, armed with the best economic data available, had little idea of what was looming less than two years off.
Trusted to look toward the future and make decisions to keep the economy strong, they spent some of their time patting their leader on the back and even found time to joke about what turned out to be early-warning signs in the markets. While Fed officials — including several who are in key positions today — were aware that the nation’s rapid increase in housing prices was coming to an end, they significantly underestimated how much damage the popping of the real estate bubble would cause in the rest of the economy.
In his first meeting as Fed chairman, in March 2006, Ben S. Bernanke noted the slowdown in the housing market. But he said he shared the view that “strong fundamentals support a relatively soft landing in housing,” adding: “I think we are unlikely to see growth being derailed by the housing market.”
The year began with adulation all around for Greenspan. In that January meeting, Roger Ferguson, then Fed vice chairman and now head of the TIAA-CREF financial services group, called Greenspan a “monetary policy Yoda. — Greenspan image tarnished by newly released documents – The Washington Post

So far there is only one person even talking about the Federal Reserve and his foreign policy is horrible. So, nothing will change. In other words, business as usual. So much for that Tea Party eh?

(via HotAir Headlines)

Hannity to Perry: You sound like the #OWS crowd!

I have to hand it to Hannity, when he is right, he is right. I wrote the same thing. Which means I actually agree with Sean Hannity! Horrors! 😯

Video: (Via Mediaite) (H/T to HotAir Headlines)

Money quote:

Perry began the segment attacking President Obama, but Hannity quickly shifted gears to the “very harsh words” Perry has had for Romney. “It almost sounds like Occupy Wall Street,” he noted, “it doesn’t sound like someone who is governing Texas as a conservative.”
“There is a real difference between venture capitalism and vulture capitalism,” Perry replied, adding that “venture capitalism we like; vulture capitalism, no.” He justified his attacks saying that “the fact of the matter is he’s going to have to face up to this at some time or another.” Hannity wasn’t satisfied with this answer, asking Perry whether he was saying “that Mitt Romney is a vulture capitalist, that he is unethical.” Perry specified that he thought what happened with two specific companies bought by Bain was “irresponsible,” and that “the folks in South Carolina agree with that.” Hannity replied that it was still “as severe as they can get” as far as attacks go, though Perry insisted there were places where Bain had “destroyed people’s lives.

Rick Perry, making the Democrats arguments for them. Nice Ricky….real nice… 🙄

I respect Ron Paul and all, But…..

This is one of the stupidest things, that I have ever seen come out of Ron Paul’s camp:

LAKE JACKSON, Texas – Ron Paul tonight scored an historic second-place victory in the 2012 New Hampshire Primary. Below please find comments from National Campaign Chairman Jesse Benton:
“Ron Paul tonight had an incredibly strong second-place finish in New Hampshire and has stunned the national media and political establishment.
“When added to Paul’s top-tier showing in Iowa, it’s clear he is the sole Republican candidate who can take on and defeat both Mitt Romney and Barack Obama.
“The race is becoming more clearly a two-man race between establishment candidate Mitt Romney and Ron Paul, the candidate of authentic change. That means there is only one true conservative choice.
“Ron Paul has won more votes in Iowa and New Hampshire than any candidate but Mitt Romney.
“Ron Paul and Mitt Romney have been shown in national polls to be the only two candidates who can defeat Barack Obama.
“And Ron Paul and Mitt Romney are the only two candidates who can run a full, national campaign, competing in state after state over the coming weeks and months. Ron Paul’s fundraising numbers — over $13 million this quarter — also prove he will be able to compete with Mitt Romney. No other candidate can do all of these things.
“Ron Paul is clearly the conservative alternative to Mitt Romney as the campaign goes forward.
“We urge Ron Paul’s opponents who have been unsuccessfully trying to be the conservative alternative to Mitt Romney to unite by getting out of the race and uniting behind Paul’s candidacy.
“Ron Paul has the boldest plan to cut spending, a dedication to protecting life, and a lifelong dedication to the Constitution and limited government. He also has the necessary support to campaign nationwide against Mitt Romney.
“Our campaign is already planning ahead for South Carolina, Florida, and beyond. Soon Ron Paul will head to South Carolina to begin a feverish round of campaigning.
“Ron Paul is in this race for the long haul. And he is ready to fight.
“See you on the campaign trail.” — Ron Paul To Everyone But Mitt: Drop Out

I respect the man and all; However, I do not respect his newsletters, neither do I respect his tin-foil hat crap that he and his supports are known for; especially when it comes to 9/11. I also do not have any use for his foreign policy, which I feel is worse than Rick Santorum’s Wilsonian foreign policy.

In other words, the man has no business being President.

Others: Hit & Run, Bloomberg, The Politico, The Other McCain, The Daily Dish, Outside the Beltway, The Gateway Pundit, Questions and Observations, Shakesville, ThinkProgress, No More Mister Nice Blog, Hot Air, Pirate’s Cove, American Spectator, CNN, Associated Press, The Atlantic Online, Mediaite, Flopping Aces, Ballot Box and Gallup

It’s Mitt in New Hampshire!

The Video: (H/T HotAir.com)

The Story:

Mitt Romney has won the New Hampshire primary, Fox News projects, notching back-to-back victories in the first two contests of the presidential nominating season.
Fox News also projects that Ron Paul will finish second and Jon Huntsman will finish third. Rick Perry is projected to finish in sixth place — the rest of the night is shaping up to be a race for fourth, between Newt Gingrich and Rick Santorum. Both candidates are pulling in 10 percent of the vote.
Also unclear is Romney’s margin of victory, though Fox News projects he will win by double digits. With 40 percent of precincts reporting, Romney is leading with 37 percent of the vote. Paul has 24 percent and Huntsman has 17 percent. — Romney Wins New Hampshire Primary, Fox News Projects | Fox News

Like I previously wrote; What other choice do Republicans really have? South Carolina will be a telling primary and challenge for Romney. But so far, I think he has the nomination in the bag.

Update: Now a Memeorandum Thread.

Gallup Poll: Majority of Conservatives See Romney as “Acceptable”

My question is what other choice do they really have? Confused I dont know

The Poll via Gallup:

PRINCETON, NJ — Mitt Romney is the now the only candidate that a majority of conservative and moderate/liberal Republicans nationwide see as an “acceptable” GOP nominee for president. Conservative Republicans are more likely to say Romney would be an acceptable nominee than either Newt Gingrich or Rick Santorum.
Fewer than half of conservative Republicans see Rick Perry, Ron Paul, or Jon Huntsman as acceptable nominees.
Romney’s broad acceptability across ideological lines is decidedly not the case for his competitors. Conservative Republicans view Gingrich, Santorum, and Perry as more acceptable than do moderate/liberal Republicans. On the other hand, moderate/liberal Republicans on average view Paul and Huntsman as more acceptable than conservatives.

The rest of that makes for some interesting reading. My question is, what choice do we really have? I dont know I mean, Gingrich is a populist bomb thrower who would scare off any independent voters and the social Conservatives view his multiple marriages as a cardinal sin. Ron Paul will never be elected, the Neoconservative majority in the party will never allow that. Rick Santorum will never win the primary, just because he is too socially conservative and the GOP does want someone who will appeal to voters. Jon Huntsman can never seem to gain any traction, mainly because the Conservative base sees him as a traitor to the party for working for President Obama. So, who else is there? Mitt will win over the Conservative base and they will hold their nose and vote for him. Mitt might be able to win over the Independents and hopefully the Evangelical base, although, I do have my doubts about that one.

Another thing too is this; Santorum will have the Catholic vote sowed up and they are a big voting demographic. However, the Independents who are catholic and non-catholic, might not be swayed towards him. Another thing to watch for is disgruntled Democrats, who have given the Democratic Party the ol’ “One finger salute” and decided that Obama just failed too badly and want something different. Those people are one’s to watch as well.

Let me say this about Romney and Evangelical Christians; the majority of them would be accepting to a Mormon President. However, there is a small; but very vocal minority of them that will not vote for him under no circumstances at all. Mainly, it is some of the “old school” Fundamentalists – and some Baptists, who would not vote for the man at all. Now personally, I am not too keen on the idea myself. However, at this point, anything is better than that mental midget in the White House now.

The problem with Romney is that he is squeaky clean on social issues and he is very well funded. You just cannot outrun someone like that. Hillary tried and failed and so will anyone who runs against Mitt. Believe me when I tell you, I do not like that thought no more than anyone else; but facts are facts.

Others: today.yougov.com News, American Prospect, The Caucus, Washington Post, Hot Air, The Other McCain, Indecision Forever, American Spectator, Catholic Bandita, Ballot Box, Weasel Zippers, Outside the Beltway, Patterico’s Pontifications, Ricochet Conversations Feed, National Review and The Lonely Conservative (Via Memeorandum)

Video: Jon Huntsman “Country First”

I tend to believe that if Mitt Romney was not running and the Republican Party was not so far in the right corner — this guy might have a chance.

Unfortunately, Mitt Romney is there and everyone hates him; and the rest of them cannot get elected. Poor ol’ Jon cannot get a break.

It is a good ad. It just will fall on deaf ears.

No, I did not watch the Republican Debate last night

I had good reason not to watch too. From what I was hearing on twitter last night; while I was lying in the bed and drifting off to sleep, is that the debate was lousy. This was confirmed by things that I have read this morning. I guess the usual liberal partisan hacks over at ABC NEWS were living up to their expectations — not to mention the fact that the head of the DNC was at the debate outright lying to the media.

Also, the silly back and forth, not to mention the preening; as to who is the most Republican of them all — I find all that quite the bore. The truth is none of these contenders is of the Reagan stripe of Conservative, most of them, with the exception of Ron Paul; who is too far in the other direction — are just Neo-Conservative war hawks. Now will I vote for one of them? At this point, I really do not honestly know. It depends on which one makes the cut with the GOP nomination.

To be quite honest, the primary process really does not interest me that much. Now the general election is another story; the debates that I very much look forward to are the general election debates, how is Obama going to face someone like Romney? How is Obama going to stand there with a straight face and repeat that silly mantra of Hope and Change?

The truth is the only thing that is changed, is the amount of debt and the rate of unemployment. This is not to even to mention all the bureaucratic Government regulations that was put into place that killed many jobs in the oil drilling business. I just do not see how Obama is going to defend all of that, without sounding like a blithering idiot.

There is supposed to be a debate tonight as well, from what I hear. I will most likely skip it too. Again, I just do not have any interest in the Republican Party fashion shows. I just want to see this failure of a President try to debate and defend his failures in leadership. It is something that I do look forward to very much.

Rasmussen: Romney 27%, Santorum 24%, Gingrich 18% in SC Primary Poll

There is a reason for this and I will explain it:

Video:

(removed – video auto-played and was annoying…)

The Story:

What a difference a caucus makes. Rick Santorum who two months ago had one percent (1%) support among likely South Carolina Republican Primary voters now is running a close second there with 24% of the vote.
The latest Rasmussen Reports telephone survey in the Palmetto State finds former Massachusetts Governor Mitt Romney still in the lead, earning 27% support from likely GOP Primary Voters, up from 23% in early November. Former House Speaker Newt Gingrich is in third with 18% of the vote, followed by Texas Congressman Ron Paul at 11%.
Bringing up the rear are Texas Governor Rick Perry with five percent (5%) and former Utah Governor Jon Huntsman at two percent (2%). Another two percent (2%) of these likely primary voters like some other candidate, and 11% remain undecided. — Via Election 2012: South Carolina Republican Primary – Rasmussen Reports

Okay here is the reason that Romney is doing so well in this polls; First off, name recognition. Second of all, Romney is more of a moderate and those type of Conservatives will gravitate towards him. Santorum is a bit more of a hardcore Republican and Conservative, especially when it comes to social issues, like Abortion. This turns off the more fiscal Conservatives.

Not only this, Romney is appealing to the Independents as well — which will ruin Obama’s chances of relection, if Romney gets the nomination — which, at this point, I believe will be the case. Also, if he is as smart, as he seems to be — Romney will pick Santorum as as his running mate and that will be the ticket come the 2012 general election. Which will put Democrats into a frenzy and you talk about war? Holy crap! 😯

Others: The Hill, The Moderate Voice, American Research Group, Hot Air, CatholicVote.org, GOP 12, LifeNews.com, Big Government, Campaign 2012, Outside the Beltway, ABCNEWS, Taegan Goddard’s …, FiveThirtyEight, Ballot Box, The PJ Tatler, Wake up America and American Spectator

Wisconsin Governor Scott Walker: “Unions want me dead”

Just a showing of how bad it is gotten up in Winsonsin:

With a June recall election all but certain, Wisconsin Gov. Scott Walker says the debate is no longer just about collective-bargaining rights for state workers. Union leaders and others, he said, have made it personal.
“They want me dead. I don’t think that’s an exaggeration,” Mr. Walker said in an exclusive interview with The Washington Times after a roundtable discussion Thursday at the American Enterprise Institute.
His opponents have until Jan. 15 to collect about 540,000 signatures and trigger another election, which would surely center around Mr. Walker’s successful but controversial efforts to strip many collective-bargaining rights from teachers and other government employees in his state, all in an effort to close budget gaps and put Wisconsin back on firm financial footing. — Via Wisconsin Gov. Walker: Unions ‘want me dead’ – Washington Times

I feel for the guy, but I have to say this; this above, is why Rick Snyder did not do anything drastic here in Michigan. Because I believe he happens to know, what I know — that actions always have consquences. There is also something else too; that little thing that the C.I.A. likes to call “Blowback.” Blowback is the adverse reaction to an action taken by someone in position or power; it always happens, especially in politics. It is Ron Paul’s favorite term. 🙄

There is something else too; there is a thing in politics called political capitial. Many Presidents have burned through it quickly. Bush did, Obama did and still is. When you have burned through it; you are quite screwed. Smart Presidents have slowly burned through it and went on to serve two terms and do well. The not-so-smart ones end up like Bush and Obama — hated before they even can really do anything.

I guess nobody told Scott Walker about this. You just do not make drastic changes, when first taking office without paying for it in the end. This is just how it works, and also long as we have a two party system in this Country, that is how it will be for a long time to come.

(H/T HotAir Headlines)

As of now, I have zero respect for Jesse Ventura

Because of this: (H/T HotAir)

CONTENT WARNING! Language!

You want to know what a Ron Paul supporter acts like, want to know their mentality? Play the video.

This, my friends, is why I despise Ron Paul. Military or no Military; Ventura is a lying scumball.