Greetings from Calico Blackie!
WooHoo! Congress is at it again and this time (as usual) they’re not even using lube.
We just get to bite the pillow because they’re going in dry.
AND THEY DON’T CARE.
They don’t give a damn about their approval rating.
They don’t give a damn what you and me think of them.
They just don’t care.
It’s frustrating to look around and say:
WHERE’S THE OUTRAGE?
Why isn’t this story front page news on every network and in every newspaper?
Oh yeah, it isn’t bloody enough to hold our interest for long.
How Congress Quietly Overhauled Its Insider-Trading Law
The legislative process on Capitol Hill is often slow and grinding. There are committee hearings, filibuster threats and hours of floor debate.
But sometimes, when Congress really wants to get something done, it can move blindingly fast.
That’s what happened when Congress moved to undo large parts of a popular law known as the STOCK Act last week.
A year ago, President Obama at a celebratory ceremony attended by a bipartisan cast of lawmakers. “I want to thank all the members of Congress who came together and worked to get this done,” he said.
The law wouldn’t just outlaw trading on nonpublic information by members of Congress, the executive branch and their staffs. It would greatly expand financial disclosures and make all of the data searchable so insider trading and conflicts of interest would be easier to detect.
But on Monday, the president signed a bill reversing big pieces of the law.
There was no fanfare last week either, when the Senate and then the House passed the bill in largely empty chambers using a fast-track procedure known as unanimous consent.
In the House, Majority Leader Eric Cantor, R-Va., shepherded the bill through.
It was Friday afternoon at 12:52. Many members had already left for the weekend or were on their way out.
The whole process took only 30 seconds. There was no debate.
“There weren’t too many members of Congress who were aware of this legislation,” says Craig Holman, the government affairs lobbyist for Public Citizen. “And I suspect very, very few understood what a sweeping radical change it is to the STOCK Act.”
Calico Blackie says:
Where is the outrage?
Why aren’t we taking to the streets and the internet in record numbers to expose Wall Street and our Government for the sham and racket that it really is?
Why aren’t we DEMANDING THAT CONGRESS CLEAN UP IT’S ACT?
Why aren’t we demanding an end to corruption in Government?
Why aren’t we demanding a Government of the People, By the People and For the People instead of meekly and submissively taking it up the ass every time “our” government decides to shaft us?
Well, we tried to do all those things with OCCUPY WALL STREET and we were beaten and shouted down.
But, we live in “the greatest country in the world!
Where else can billionaires own the government and so thoroughly screw the citizens of this country and make us think it’s a right and privilege to be screwed?
WHAT’S IN YOUR WALLET?
Billionaires Dumping Stocks, Economist Knows Why
Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods.
In the latest filing for Buffett’s holding company Berkshire Hathaway, Buffett has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced his overall stake in “consumer product stocks” by 21%.
Berkshire Hathaway also sold its entire stake in California-based computer parts supplier Intel.
With 70% of the U.S. economy dependent on consumer spending, Buffett’s apparent lack of faith in these companies’ future prospects is worrisome.
Unfortunately Buffett isn’t alone.
Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of U.S. stocks too.
During the second quarter of the year, Paulson’s hedge fund, Paulson & Co., dumped 14 million shares of JPMorgan Chase.
The fund also dumped its entire position in discount retailer Family Dollar and consumer-goods maker Sara Lee.
Finally, billionaire George Soros recently sold nearly all of his bank stocks, including shares of JPMorgan Chase, Citigroup, and Goldman Sachs.
So why are these billionaires dumping their shares of U.S. companies?
After all, the stock market is still in the midst of its historic rally. Real estate prices have finally leveled off, and for the first time in five years are actually rising in many locations.
And the unemployment rate seems to have stabilized.
It’s very likely that these professional investors are aware of specific research that points toward a massive market correction, as much as 90%.
Calico Blackie says:
Where is the outrage? We’re getting fleeced and sodomized like a bunch of Montana ewes and yet we’re still complacently munching grass!
Maybe we deserve it for being so stupid and uncaring?
Check this out…….
Schiff: 2/3 of America to Lose Everything Because of This Crisis
A record breaking stock market is distorting a frightening reality: The U.S. is being eaten alive by a horrific cancer that will ultimately destroy the economy and impoverish the vast majority of its citizens.
That’s according to Peter Schiff, the best-selling author and CEO of Euro Pacific Capital, who delivered his harsh warning to investors in a recent interview on Fox Business.
“I think we are heading for a worse economic crisis than we had in 2007,” Schiff said.
“You’re going to have a collapse in the dollar…a huge spike in interest rates… and our whole economy, which is built on the foundation of cheap money, is going to topple when you pull the rug out from under it.”
Schiff says that, despite “phony” signs of an economic recovery, the cancer destroying America stems from a lethal concoction of our $16 trillion federal debt and the Fed’s never ending money printing.
Currently, Bernanke and company is buying $1 trillion of Treasury and mortgage bonds a year. That’s about $85 billion per month against a budget deficit that is about the same level.
According to Schiff, these numbers are unsustainable. And the Fed has no credible “exit strategy.”
Eventually interest rates will rise… and when they do, Schiff says, stocks will tank and bonds dip to nothing. Massive new tax hikes will be imposed and programs and entitlements will be cut to the bone.
“The crisis is imminent,” Schiff said. ”I don’t think Obama is going to finish his second term without the bottom dropping out. And stock market investors are oblivious to the problems.”
“We’re broke, Schiff added. ”We owe trillions. Look at our budget deficit; look at the debt to GDP ratio, the unfunded liabilities. If we were in the Eurozone, they would kick us out.”
“It’s not that the stock market is gaining value… it’s that our money is losing value. And so if you have a debased currency… a devalued currency, the price of everything goes up. Stocks are no exception,” he said.
“The Fed knows that the U.S. economy is not recovering,” he noted. “It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode.”
Calico Blackie says:
Why do you think some members of Congress and our President are suddenly pushing so hard for gun control?
They don’t give a damn about our “safety”.
They know damn well gang members and other violent criminals won’t line up to surrender their guns.
They know damn well that if our “entitlements” get cut to the bone while they’re living the high life, we’re gonna be REAL pissed.
They know damn well that a full-blown depression might be the proverbial straw that breaks the camel’s back.
They know damn well that, this time, we might not just bend over so easily.
We might stop munching grass when all the grass is finally taken away and the gloves come off.
Imagine the chaos in this country if Medicare, Social Security, Welfare, Food Stamps and all other government programs which were designed to help but ended up by having MILLIONS of people dependent on Wall Street and Uncle Sam are suddenly “cut to the bone”?
What do I know?
I’ve got a feeling the next time a call to protest ends with the words “BRING TENT”, we’ll be bringing tents alright, because that’s all we’ll have left.
I just hope that we’re never forced into a situation by the banksters and their wholly-owned subsidiary in Washington, DC to end our call to protest with the words “BRING GUN”.
That’s exactly what the Wall Street banksters and their crooked cronies on Capitol Hill are afraid of.
Oh well. On a lighter (and totally unrelated) note that I found interesting……
French study suggests younger women should stop wearing bras
A new French study suggests some women should throw their bras in the trash.
Professor Jean-Denis Rouillon, a sports medicine specialist from Centre Hospitalier Universitaire de Besancon in Besancon, France, published a study on Wednesday that shows that wearing bras may not prevent women’s breasts from sagging, and may in fact increase it.
“Our first results confirm the hypothesis that the bra is a false need,” Rouillon told France Info. “Medically, physiologically, anatomically, the breast does not benefit from being deprived of gravity. Instead, it languishes with a bra.”
The 15-year study involved 330 volunteers between the ages 18 and 35.
Researchers measured their breasts using a slide ruler and a caliper and recorded any changes throughout the study period.
Women who did not wear bras had a 7 millimeter lift as measured from their nipples each year. Their breasts were also firmer, and their stretch marks faded. There was also no evidence that the bras helped get rid of back pain.
The researchers believed that wearing bras prevented the growth of breast tissue, which lead to deterioration of the muscles that support the breasts.
Calico Blackie says:
I guess you can get funding for anything as long as it’s done in the name of “science.”
Meanwhile, we’re screwed by our governments and systems.
People are homeless and in need.
Our “entitlements” (that we paid for) are going to get cut. But the French can find money to study the rates of titty-sag!
And, you know our government has also funded worthless “studies” too.
Fiddling while Rome burns.
We’re getting screwed.
WHERE’S THE OUTRAGE?
Oh, that’s right….
If you speak up about it, you’re a DIRTY HIPPIE!
I guess I’m a dirty hippie.
KEEP THE FAITH
Calico Blackie @kidakita