Rush was playing sound bites from Warren Buffet regarding the Kenyan Usurper’s Marxist programs.....He was against card check, cap n trade, and a few others. Warning that the battle is the ‘ECONOMY STUPID’ not shoving your socialist programs down the people’s throat.
You know it’s bad when the biggest flat-kneed round mouth Kenyan supporters are starting to jump ship.
Thankfully my GE stock means I bet the market today, but only because they sold a lot of paper to shore up that damn capital arm of theirs. Why didn’t I buy Eaton?
As I recall, NASD peaked at roughly 5150 in March of 2000; closed today at 1269.
That puts it down 75% from its all-time peak.
U.S. Stocks Fall on Buffett, World Bank Warning About Economy
http://www.bloomberg.com/apps/news?pid=20601087&sid=aBgqN4nFnxG0&refer=home
Is it possible Obama is Haitian, rather than Kenyan?
"The problem here is simple: credit is scarce because nobody wants to lend and nobody wants to buy. Why not? Because the Federal Government is threatening to borrow and spend a TRILLION DOLLARS. If you are bank, would you sell your product if you knew that an A-grade customer was going to be spending a TRILLION dollars soon? Of course not. Even if they choose not to buy from you, the price of lending is going to go up. It can't help but go up, not when a TRILLION dollar buyer is showing up. So nobody is lending now."
"And nobody is buying anything now. Why would you? You want to be positioned correctly for the TRILLION dollars which is going to enter the market soon. You don't want to invest your money in something, only to find that the market has shifted and your investment is toast."
"The failout is not the solution to our problems. It is the CAUSE of our problems, merely by being threatened. Why is this not obvious to everyone?"
http://angry-economist.russnelson.com/failout.html
| 11/05/2008 OPEN: | 9,504.85 |
| 03/08/2009 CLOSE: | 6,626.94 |
| "CHANGE" | -2,877.91 (-43.43%) |
Our talking point:
Is this the CHANGE you were HOPING for?
I suggest, in the great communist tradition, that we renumber 2009 as Year Zero.
So many people have been told. you don’t lose anything until you sell, Keep your money in for the long term.
Some still have 401’s that continue to drop and they are afraid to pull out and then see it go back up. Just imagine if people really panicked and started bailing out.
I think the time is getting short where people will take their licking and run.
A letter from the boss.
To All My Valued Employees,
There have been some rumblings around the office about the future of this company, and more specifically, your job. As you know, the economy has changed for the worse and presents many challenges. However, the good news is this: The economy doesn't pose a threat to your job. What does threaten your job however, is the changing political landscape in this country.
However, let me tell you some little tidbits of fact which might help you decide what is in your best interests.
First, while it is easy to spew rhetoric that casts employers against employees, you have to understand that for every business owner there is a Back Story. This back story is often neglected and overshadowed by what you see and hear. Sure, you see me park my Mercedes outside. You've seen my home at last years Christmas party. I'm sure all these flashy icons of luxury conjure up some idealized thoughts about my life.
However, what you don't see is the BACK STORY :
I started this company 28 years ago. At that time, I lived in a 300 square foot studio apartment for 3 years. My entire living apartment was converted into an office so I could put forth 100% effort into building a company, which by the way, would eventually employ you.
My diet consisted of Ramen Pride noodles because every dollar I spent went back into this company. I drove a rusty Toyota Corolla with a defective transmission.
I didn't have time to date. Often times, I stayed home on weekends, while my friends went out drinking and partying. In fact, I was married to my business — hard work, discipline, and sacrifice.
Meanwhile, my friends got jobs. They worked 40 hours a week and made a modest $50K a year and spent every dime they earned. They drove flashy cars and lived in expensive homes and wore fancy designer clothes.
Instead of hitting the Nordstrom’s for the latest hot fashion item, I was trolling through the discount store extracting any clothing item that didn't look like it was birthed in the 70’s. My friends refinanced their mortgages and lived a life of luxury. I, however, did not. I put my time, my money, and my life into a business with a vision that eventually, some day, I too, will be able to afford these luxuries my friends supposedly had.
So, while you physically arrive at the office at 9am, mentally check in at about noon, and then leave at 5pm, I don't. There is no “off” button for me. When you leave the office, you are done and you have a weekend all to yourself. I unfortunately do not have the freedom. I eat, and breathe this company every minute of the day. There is no rest. There is no weekend.
There is no happy hour. Every day this business is attached to my hip like a 1 year old special-needs child. You, of course, only see the fruits of that garden — the nice house, the Mercedes, the vacations...you never realize the Back Story and the sacrifices I've made.
Now, the economy is falling apart and I, the guy that made all the right decisions and saved his money, have to bail-out all the people who didn't. The people that overspent their paychecks suddenly feel entitled to the same luxuries that I earned and sacrificed decades of my life for.
Yes, business ownership has it's benefits but the price I've paid is steep and not without wounds.
Unfortunately, the cost of running this business, and employing you, is starting to eclipse the threshold of marginal benefit and let me tell you why:
I am being taxed to death and the government thinks I don't pay enough. I have state taxes. Federal taxes. Property taxes. Sales and use taxes. Payroll taxes. Workers compensation taxes. Unemployment taxes. Taxes on taxes. I have to hire a tax man to manage all these taxes and then guess what? I have to pay taxes for employing him. Government mandates and regulations, and all the accounting that goes with it, now occupy most of my time. On Oct 15th, I wrote a check to the US Treasury for $288,000 for quarterly taxes. You know what my “stimulus” check was? Zero. Nada. Zilch.
The question I have is this: Who is stimulating the economy? Me, the guy who has provided 23 people good paying jobs and serves over 2,200,000 people per year with a flourishing business? Or, the single mother sitting at home pregnant with her fourth child waiting for her next welfare check? Obviously, government feels the latter is the economic stimulus of this country.
The fact is, if I deducted and stole 50% of your paycheck you'd quit and you wouldn't work here. I mean, why should you? That's nuts. Who wants to get rewarded only 50% of their hard work? Well, I agree which is why your job is in jeopardy.
Here is what many of you don't understand ... to stimulate the economy you need to stimulate what runs the economy. Had suddenly government mandated to me that I didn't need to pay taxes, guess what? Instead of depositing that $288,000 into the Washington black-hole, I would have spent it, hired more employees, and generated substantial economic growth. My employees would have enjoyed the wealth of that tax cut in the form of promotions and better salaries. But you can forget it now.
When you have a comatose man on the verge of death, you don't defibrillate and shock his thumb thinking that will bring him back to life, do you? Or, do you defibrillate his heart? Business is at the heart of America and always has been. To restart it, you must stimulate it, not kill it.
Suddenly, the power brokers in Washington believe the poor of America are the essential drivers of the American economic engine. Nothing could be further from the truth and this is the type of change you can keep.
So where am I going with all this?
It's quite simple.
If any new taxes are levied on me, or my company, my reaction will be swift and simple. I fire you.. I fire your co-workers. You can then plead with the government to pay for your mortgage, your SUV, and your child's future. Frankly, it isn't my problem any more.
Then, I will close this company down, move to another country, and retire. You see, I'm done.
I'm done with a country that penalizes the productive and gives to the unproductive. My motivation to work and to provide jobs will be destroyed, and with it, will be my citizenship.
So, if you lose your job, it won't be at the hands of the economy; it will be at the hands of a political hurricane that swept through this country, steamrolled the constitution, and will have changed its landscape forever. If that happens, you can find me sitting on a beach, retired, and with no employees to worry about...
Signed, THE BOSS
This is a simple, straightforward, explanation of what's going on in Washington. As you can easily tell from this letter, the outcome isn't going to be pretty if we, the People, don't regain control. Let's hope and pray we do and get it done in time before its too late!!
“What you’re now seeing is profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you’ve got a long-term perspective on it.”
And oil is up. Cool!
Stop buying anything that you don’t need for survival. We’re getting changes in constituency leadership soon, so that we can have a real pro-American conservative party.
What does the vertical red line on the Yahoo graph mean? Is it an average of something?
I’ve only just started trying to follow this. And, I’m following it out of anxiety for my country. So, I’m not very informed. Just worried when I see our financial security so...insecure.
Hey, according to the Obamessiah, it’s just a like a “tracking poll,” like an EKG is just like a tracking poll when it codes.
