Financial Bailout

This is an excellent clip from the Daily Show about the idiocy of CNBC.
VERY FUNNY STUFF.

The Daily Show With Jon StewartM - Th 11p / 10c

CNBC Gives Financial Advice

Daily Show Full Episodes
Important Things With Demetri Martin

Political Humor
Joke of the Day

Personally, I think that the two biggest douche bags on that financial channel escaped comment in this clip.

The first is Dennis Kneale



Dennis strongly feels it is unfair to deny Wall Street year-end bonuses, even though these companies are using tax payer provided bailout money to pay them.

In this clip, Dennis gets schooled by Senator Bernie Sanders (D) VT.




Then there is Michelle Caruso-Cabrera, who called the Senator a socialist in the last clip.



As you can see from this clip, Michelle loves to openly show her hatred for anything socialist. After all, she and her fellow Hispanics find very little need for government-sponsored programs.*

*For those of you who feel this is a racist comment, it is not meant to be. I simply find it nauseating that Michelle takes every opportunity to shake her ethnic tail feathers when it is convenient for her career, yet she is completely insensitive to the fact that many Hispanic people in this country need government-sponsored programs to survive.

Financial Crisis

The fall of Troy

Cassandra was the daughter of King Priam and Queen Hecuba of Troy. Apollo (the Greek god of the sun, truth and prophecy) fell in love with Cassandra. However, when she did not return his love, Apollo placed a curse on her so that no one would ever believe her predictions.




Cassandra foresees the destruction of Troy (she warns the Trojans about the Trojan Horse, the death of Agamemnon, and even her own demise). Despite this foresight, she is unable to do anything about these events.

In January of this year I predicted that there was a looming problem of rising oil prices. At that time, Nymex crude oil was at $100.00 a barrel.

This past week, it broke through the $140.00 mark.

I tried to point out that if the price of sweet crude oil continued higher, the cost of everyday consumer goods would rise alongside it. This would then, in turn, spark wide spread inflation in the United States.




In its infinite wisdom, Ben Shalom Bernanke and the Federal Reserve Board of Governors in Washington DC has cut interest rates time and again over the past couple years to "stimulate" the stock market and “help” the nationwide real estate crisis.




These shortsighted actions have caused serious weakness in the US dollar. When the Canadian Loonie, for the first time in its history became more valuable than the US dollar, I made a point to mention it on this blog.

As you can see from this chart (pictured below), the Dow Jones Industrial Average is now well below the 11,722 mark it held in January of 2000.



(CLICK CHART TO ENLARGE)

One might kindly say that we have simply made no economic progress in the eight years that George Bush has been in the White House.

However, if you adjust those market levels for even modest year-to-year inflation you really get a sense of what a complete cluster fuck this administration has been.