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Saturday, January 31, 2009

TANSTAAFL

Or, "I'll drink your milkshake!"
Be sure to click and read the comments.

posted by Amendment X at 5:55 PM permalink 0 comments

Friday, January 30, 2009

...but I'll know it when I see it

Everet Dirkson, Senator from Illinois, has been attributed to have said "A billion here and a billion there and pretty soon you're talking about real money!" (BTW, when I think "Senator" I think "Ev Dirkson!"). In the Spendapalooza (aka Wastepalooza) going on in Washington, I'm also reminded, in trying to imagine what a million million is, I'm reminded of a quote from Stalin:" A single death is a tragedy, a million deaths is a statistic." I'm afraid we've become dulled to to the scope of this Porkalooza tsunami.
Well, from Ed Morrissey at Hot Air, here is a link to a historical spending graphic, all in inflation adjusted dollars (aka constant dollars) (click on the image for a clearer view):


Now, what this graphic does not show is the Fannie and Freddie bailout, TARP, the auto bailout just to name three. Ed got this from a a site Suitably Flip . What also is not shown is all the economic damage from the New Deal which has crippled the American economy for over 75 years. This graphic does not include the $70,000,000,000,000+ unfunded liability for Social Security and Medicare. The Porkulus bill only spends about 12-14% on any real "stimulus". That plus most of the "money" won't be spent for years.
Liz Trotta on Fox News Sunday a few weeks back had five great questions to ask, even before this disaster (my answers follow each question):
  1. How much money does the Fed have?- None. It has to take it from you in one way, shape or form.
  2. Where does it come from?- Depends on what Liz Trotta refers to as the Fed: The federal government or the Federal Reserve. The Fed Reserve again prints it. The federal government gets it from only three places: taxes (you pay), borrowing (you pay again with higher interest rates and taxes as those debt instruments have to paid back) or they print it.
  3. Who decides what to do with the money?- Barney Frank ("Fannie Mae and Freddie Mac are solid and sound! No problem at all. Trust me."), Chris Dodd (How's that Countrywide mortgage going for you there Senator?), Charles Rangel (I'm too important to have to pay fines and penalties on those taxes I didn't pay), Tim Geitner (Oh, THOSE taxes! Horrible mistake, Turbo Tax's fault, etc...).
  4. Who has oversight? Checks/balances?- see answer to question 3.
  5. How much money does the government have left?- As it didn't start with any and has run up deficts (for us serfs, it called "overdrawn", aka "bounced check syndrome"), it's "created" money.
As I've sold high collectibles for over 17 years, mostly consisting of old American gold coins, I put together a Power Point presentation about buying and taking a defensive position in gold. One of the slides asks "What makes money, well, money?" I stop the slide and take comments: recognized method of trade, easy to transport, able to ascertain value... All true. However, there is one prime factor in making money money: It's accepted as money. If it's not trusted for any number of reasons and therefore not accepted, it no longer is money.
So, what happens when foreign governments no longer buy our debt?

posted by Amendment X at 4:03 PM permalink 0 comments

Thursday, January 29, 2009

An ad that I really like

My friend Ed Morrissey over at Hot Air has a pro-life ad that NBC and the Super Bowl rejected.
It makes a very powerful statement.



It raises a lot of thorny questions for the anti-life/limited pro-choice left.
A lot.
And that makes it even more enjoyable.

posted by Amendment X at 11:12 PM permalink 2 comments

Another reason the Stribune is bankrupt

From the Stribune editorial cartoonist Sack:

I notice Mr. Sack conveniently did NOT include the President's tirade against Rush Limbaugh, not to mention that he "mentioned" in his all inclusive bi-partisan overture to the Republicans "I won". No reference to Speaker Pelosi's refusal to include the Republicans any opportunity to address or amend the Porkulus package. As Minority Whip Eric Cantor reminded President Obama at a White House get together yesterday that it was not a House bill-as the Republicans were frozen out, it was and is a Democrat bill.
I wonder if Sack is working as a consultant for the Strib these days or is still one of the 23 retained under Chapter 11 employees still on board?

posted by Amendment X at 8:30 PM permalink 1 comments

Wednesday, January 28, 2009

Why I love the open, compassionate, diverse left

I've written many times about my involvement with the 8th Air Force Historical Society. Every Wednesday 50-60 of us meet for lunch, usually seated at the same chairs at the same tables.
I usually sit next to a retired Chief Master Sargent (CMSgt). I know he's a fairly strident lefty. I had no idea how strident until today.
I put my stuff on my regular chair, took off my jacket and went to return a book on WWII to a Vietnam vet across the dining hall. As I left I made a comment about Rush Limbaugh and this CMSgt made a comment about "A bullet to his head". I dropped off the book, chatted with the Navy vets and went back to my seat. We had a program that lasted for about 30 minutes. After the program, I turned to the CMSgt and said "Jack (not his name), you said something about Rush Limbaugh before the program. I just want to be clear about what you said." "I said that I don't agree with him." "Oh. What about a bullet to his head?" "Well, I said I wouldn't mind if someone put a bullet in his head. I just don't like what he says." "Oh. What about me? Do want to put a bullet in my head?" "No. Not at all." "Why not? I agree with a lot of what he says. As a matter of fact, I sometimes think he's a bit too soft. So, again, do you want to put a bullet in my head?" "No, no. I don't disagree with you." "But, I agree with Rush. You want a bullet in his head. Do you want to put a bullet in my head too?" Three times I asked him directly. Three times he demurred. I'll let remain unsaid what I thought about doing next to really call him out.
This is from the open, inclusive, bi-partisan, compassionate, we'll never re-enact the Fairness Doctrine, we support open debate, embracing diversity left.
My posterior!
Next week, I'll give "Jack" the link to this post.
I'll report on the reaction from this compassionate, embracing diversity, not closing the debate from other voices CMSgt (ret).

posted by Amendment X at 4:18 PM permalink 1 comments