Gan-"Green" Advertising Is In Need Of Amputation Stat!

Is it just me?

Nah... It can't be... Is it?

I'll tell you, I am absolutely sick of seeing any sort of advertising utilizing "Green" terminology. Sick of it!

Perhaps I'm the only one, and if so, then the world can read along and see this as the delusional writings of some insane nobody who is so far removed from what's 'really going on'.

Here's the problem: whether you believe in anthropogenic global warming, climate change or any other newly created iteration in this realm or not (Disclaimer - I DON'T) do you care if company's are acting in a manner that supposedly has less of an impact on whatever thing it is you believe in than they previously did? If you do, do you want them advertising the crap out of it every possible chance they get?

I don't care if the bus is running on 'clean fuels'
I don't care if the curly lightbulb lasts 8x longer when it costs 20x as much as a regular one
I don't care if there's a reduction in CO2 emissions from one thing or another
Carbon footprint... what? Carbon footprint?!?
Al Gore - umm, nothing else to say here... well, maybe hypocrite...

To all the company's out there who think this is helping to generate business - it's not. At least not from my wallet. I'm so sickened by the connotations with 'green' now that I actively avoid products and company's who use this as a platform to market products. Advertise to me all you want. Track me all over the web and target market things to me. But please, please don't integrate any more 'green' crap into these campaigns. I promise I won't by any more of your products. By that, I mean I won't purchase personally for myself, I won't purchase for friends and family and I'll advise friends and family to avoid them as well. That's all.

Next top tech invention: Anti-Green advertising plug-in

*** For those interested in learning why I have these 'crazed and delusional' ideas, take some time to read this well researched, thorough, objective and easy to understand work on Anthropogenic Global Warming by a former Atmospheric Physicist

Look Out! Barney Frank Is At It Again!

It doesn't take long folks.

While the US and the rest of the world are coming to terms with the depth and magnitude of the current economic downturn, Barney Frank is looking to see if he can reload the tube and torpedo any recovery yet to come.

It's no big secret that a major impetus to the latest changing of gears in the economic cycle was due to the massive over-extension of credit which resulted from relaxing lending guidelines from their traditional risk models. Essentially, the rules were loosened to the point where those who formerly didn't qualify for even a standard fixed rate/term loan were all of a sudden qualifying for complex lending instruments. This was due in large part to efforts from people like Barney Frank who 'fought for the little guy' to insure they could buy a home. I guess the key word here is 'buy'. They may have initially been able to buy a home, but 'owning' one wasn't in the cards.

The ink isn't even dry on the Notices of Default arriving at many of the 'little guys' homes now and Barney Frank is trying to get lenders (who, naturally in reaction to the utter collapse of their portfolios tightened guidelines across the board) to relax lending parameters on condos. In Barney's mind, gone are the days are saving up to put money down on a home. No longer should anybody have to work hard and try to piece together 20% of the purchase price of a reasonable home. It's so 1950's and doesn't buy you votes.

Will Barney's efforts get legs under it and be the 'Green Shoots' of the next housing bubble? Hard telling, but if history is any gauge it certainly looks good for Senator Frank and friends.

How soon we seem to all forget how these things happen.

395 Horsepower Of Official USDA Government Work!

I got a kick out of this!



Not too far outside of the Washington beltway the gaping faux chrome brake cooling air intakes of a Chevy Trailblazer SS caught my eye. Being a fan of powerful automobiles (typically not American made...) I took a second look and noticed that it had government plates.



If you're not a car aficionado you probably wouldn't even think twice because it is just a Chevy Trailblazer and there's typically nothing too special about these vehicles. Let me tell you a little about the SS model:



The 2007 SS ran just a hair over $37,000 MSRP

It was fitted with a 395 horsepower 6.0 liter V8 motor derived from the Corvette

It has 20" chrome wheels

Performance front seats

0 - 60 time in about 5 seconds

Additional interior luxury appointments



You get the idea.



When I saw the plate stating:



USDA For Official Use Only



It got me thinking.



What kind of 'official use' does the USDA need 395 luxury appointed horsepower for? Could it be they were after the 20" chrome wheels for some classified official business? Perhaps they couldn't have anything that struggled to get into the sub-6-second range in a 0-60 run and the Corvette body styling just wasn't working for them. It's hard telling when you're dealing with official business...



Regardless of the need, I'm sure we can all rest confidently knowing that approximately $37,000 of our taxpayer dollars can officially run a sub 6 second 0 - 60 time for the USDA...

Nevada's Democrat Senator Harry Reid Was Right...

I recently had the chance to visit DC and ride the Metro system and fortunately missed the catastrophe on the Red Line by a couple of hours. I don't call Washington my home town and therefore took in a lot of what was going on around the area. Something that really stuck out for me was this:

Nevada's Democrat Senator Harry Reid was right.


Washington D.C. Stinks


I don't mean it in the same sense he did. Recall back in December 2008, Reid said:

"My staff tells me not to say this, but I'm going to say it anyway," said Reid in his remarks. "In the summer because of the heat and high humidity, you could literally smell the tourists coming into the Capitol. It may be descriptive but it's true."

No, not quite like that. The stench I found seemed to emanate mostly from those doing the 'people's work'. Those folks in one sort of 'official' capacity or another around town who very obviously looked down upon the masses from around the world who came to take in the sites and history of the area. Those on the government payroll who (in their own minds) have transcended the realm of the everyday people and moved on to more important work - the work of determining how those everyday people should live their lives.

They walk around with their noses in the air, bustling from one important meeting to another and getting more and more frustrated as the tourists meander their way amongst the monuments. You can see it on their faces, in their movements and hear it as they rush past. Everybody's in their way - they have important work to do, dammit!

It was funny in a sense. In a twisted, backwards way. These people, so important in their own worlds and ironically, in ours as well, probably don't even think for a second that they people they're getting angered with pay their way in life.

Yes Senator Reid, there is a stink in Washington - I smelled it too. You may have thought you smelled it while looking out a window at the Capitol but I would venture that the smell would still be there while looking in a mirror as well...

I Love Canadians, But This Guy Is Just Plain DUMB!

***EXCLUSIVE BREAKDOWN*** by The Fiscal Corruptocrat



Here's the tale of another agenda driven idiot whose either absolutely focused on pushing his beliefs on people or blinded by his self-perceived immense intellect to separate fantasy from reality.


***WARNING: The following contains a healthy dose of facts and sarcasm. If you cry easily, have low self esteem, a well below average IQ or are offended by logic and reason, please do not continue reading.


The Red Deer Advocate in Alberta recently published an article about the local economy's dependence on energy as it's primary driver. Fair enough. Especially since they're covering a presentation made by a non partisan research group. Ricardo Acuna is the Executive Director of the Parkland Institute (said non partisan group) and he's apparently not happy with Canada's Progressive Conservatives "continuing to rely heavily on the energy sector to drive the economy."
Wait a minute...non partisan, right? Singling out one group in particular...? I think I see where this is going.

Mr. Acuna (remember, he's the Executive Director) thinks that in a mere 10 years time, "no one will want what we are selling (oil)." What's this 'we' business? I thought 'we' were non partisan? Alas, Ricardo seems to subscribe to the idea that, at least in Alberta, they're going to be running out of oil real soon. (We'll touch on this in a minute.) He fears that they'll be "scrambling to find something to replace it" and thinks they should become more "visionary" so their local economy is "sustainable" when they're "selling less of it or none of it".

That's quite the statement there. A little fear mongering maybe. Perhaps a little more than a hint at 'peak oil' theories.

Ricardo brought his audiences attention to Norway and their state owned petroleum fund (Statens pensjonsfond - Utland or, for us English speaking folks, The Government Pension Fund - Global) which is funded by their state owned oil production company Statoil. This fund has an estimated $300 billion in USD terms. The idea is to have this fund supplement Norway's revenues once the oil production starts to decline. It has been predicted that their oil discoveries are past the point of peak production. ALL of their oil sources, I'm not sure about, but somebody's claiming they're approaching the end of the line. According to Wikipedia (take it for what it's worth), the revenue from oil production will "decline over the next decades." If I can mix my math and big words correctly, I think decades means something like 10 years plus 10 years plus 10 years, etc. I know, I know, I'm starting to get confused myself, but to keep it simple, I think they mean at least 20 years and possibly 30 or 40 years plus.

Ok, so Ricardo thinks Alberta should follow Norway down that same path because, oh gosh! In 10 years time they're going to be plum outta' oil! Problem is, Alberta's only got a mere $14.5 billion in a reserve fund (akin to Norway's) which ain't going to cover the spread.

I feel kind of bad for Alberta, don't you? They're lagging way behind Norway in their capital reserves, they're going to be completely out of oil in 10 years and they haven't even begun to become 'visionary' enough to do anything about it. Instead of sitting back and watching the collapse, I figured I'd do a little research to see if I could help out in any way.


What I found is, Mr. Acuna is full of sh*t or just plain dumb.


For whatever reason, we often tend to think that when somebody has a fancy title attached to their name (like 'Executive Director' of a non partisan research group) that they know what they're talking about. That doesn't always hold water. Or, in this case, we should probably say 'oil'.

Alberta just happens to be conveniently wrapped around the Athabasca Oil Sands. A 54,000 square mile treasure trove of accessible oil that's basically situated in a 'no mans land' prime for mining. The funny thing about the Athabasca Oil Sands is that it contains approximately 1.7 TRILLION barrels of bitumen which equates to approximately the same amount of the entire worlds proven reserves of petroleum. Stop. Think about that for second...

In one fell swoop, we've basically DOUBLED the entire worlds proven oil reserves. Peak oil? Alberta running out of oil in 10 years? Mr. Acuna, I think there's a problem with your figures...


But wait FC - isn't it too expensive to extract this stuff?


When Mr. Acuna wasn't looking (he probably had his head down, feverishly scanning the intense research documentation he used for his speech and didn't seem to notice), the 'visionary' people working in Alberta have been constantly improving extraction techniques to make oil sands economically viable at lower and lower per barrel crude prices. Utilizing insitu methods such as Cyclic Steam Stimulation (CSS) and Steam Assisted Gravity Drainage (SAGD), more and more oil can be extracted from the sands economically at a per barrel price of approximately $60. Plus, these methods have been proven to be able to extract 90% to 100% of all bitumen found in the mined ore. The efficiency of the Oil Sands could possibly far exceed that of any existing below surface well with regard to accessing the entire deposit.

Ten years can seem like a long time and the funny thing is, a lot can certainly happen in that span. While Mr. Acuna thinks Alberta may not be selling ANY oil in 10 years time, other local statistics seem to differ with that opinion. Aberta Venture Magazine noted in September of 2008:

"The development of Western Canada’s oilsands is changing the Canadian business landscape, shifting growth, migration and business investment from the centre to the West. The investments made in this sector result in a significant multiplier effect for the economy. The effects seen are not simply in the form of revenue generated by the oilsands, but the ripple effect it has on all industries. Within the next 10 years, an estimated $250 billion will be spent on non-residential construction alone in Alberta." (Emphasis here and below added by FC)


It certainly doesn't sound like the local economy is going to be hurting too bad as the Athabasca Sands are mined.


In May of 2008, the Canadian Association of Petroleum Producers (CAPP) projected:

"Oil sands production, which now exceeds one million b/d, is forecast to reach 3.5 million b/d by 2015 and 4.0 million b/d by 2020, accounting for more than 80 per cent of Canadian production."

I don't know, again, my math is kind of fuzzy, but it sounds to me like there's going to oil coming out of Alberta for quite some time. In fact, this level of production equates to approximately 100 years of steady flow until it begins to become tapped out. Ten times longer than Mr. Acuna's non partisan 'research' group came up with.


Folks, what do you think? Agenda driven? More than likely. I can't see how anybody, let alone the Executive Director of a supposed non partisan group based right in Alberta where the Oil Sands are located can come up with a perspective this far off point. If we dig a little deeper and follow the money to the funding of this group I'm sure we'll find even more answers. The Parkland Institute is apparently affiliated with the University of Alberta which may help explain things. Also, the original article states that "Alberta could be an international leader when it comes to wind and solar power." Could the university be working on some new wind and solar power projects? Do any company's in the wind and solar power generation fields fund the university and/or the Parkland Group? Only a little more research and time will tell. More time than what the Parkland Institute put into this research for Executive Director Acuna, of course.

Dear Mysterious Japanese Bond Smugglers

I appreciate your valiant efforts to secure a sizeable portion of Japan's US treasury holdings and am encouraged by the inventiveness utilized in the attempt to get these instruments into Switzerland. I'm sorry to hear of your troubles at the Italian border and the possibility of losing 40% of the entire stake. In hindsight, this may prove to be a beneficial side effect for your cause (as I will outline below) which brings me to the point of my letter.

I would like to help you in any way I can with your concerns over the continued sustainability of the US dollar and I have the perfect plan to do so. The best part is, this solution will be quick, easy and above all, much cleaner than the recently foiled operation. Once the dust settles in Italy, here's what we'll do:

First, give the Italians their 40% cut and grab up the remaining bonds. Rules are rules and it's only fair. Next, please set aside one (1) of the Kennedy Bonds and promptly put my name on it. We'll set aside a time where I can acquire this single page instrument from you or you can simply drop it in the mail to my attention - whichever option is most convenient and easy for you works for me. Now, you're probably wondering where and how you'll experience the vast benefits of this plan so I'll outline all the important details. Here's my promise to you:

I will promptly cash in the bond for it's face value of $1 billion devalued US dollars.

I will then forfeit ~50% right back over to the US government and call it a windfall tax. The benefits are here two-fold. We'll get a pesky $500 million US dollars out of circulation while at the same time relieving the US government of this debt to you.

Once I get the governments share straightened away, I'll then go ahead and immediately pay my mortgage in full. Believe me, you'll definitely want this to happen. I'll be helping to shore up the books of America's largest home loan holder bringing them another baby step closer to solvency. Investors across the globe will begin to feel confident in their operations again!

Next, I will take $200 million and invest it across a diverse portfolio of commodities, hard assets, government debt (think of the benefits!) and equities. I will single handedly begin propping up the US markets and instill more and more confidence in the US dollar.

Lastly, and I promise you this, I will completely piss away the remaining ~$300 million. All of it. Every last cent. I will start in America and then go on a Michael Jackson style international spending spree leaving a trail of global economy lifting US dollars along the way. I will work on propping up the automotive industry, retail chain stores and residential & commercial real estate. This will take a little bit of time and the effects may not be seen immediately, but I will do my best.

As you can clearly see, this is a win-win situation for all involved.
- Italy gets an infusion of much needed cash to right prop up their economy
- Some US dollars get mopped up out of circulation
- Confidence will begin to return to the major US banks
- The US markets will get a solid chunk of long term investment money
- The automotive industry will get a much needed boost
- Commercial real estate will see a brief positive blip before it utterly collapses
- Residential real estate will begin to stabilize as I buy up foreclosed properties everywhere
- The US dollar will begin to improve in value thereby lessening the impact of your 40% loss to the Italians

Please leave a comment below with your contact information and we'll get started on this most important process right away. It will absolutely be my pleasure to be of assistance.

All the best,

The Fiscal Corruptocrat

A High Probability Bet You Can Rely On Every Time

Last Friday The Fiscal Corruptocrat noted that Obama likes to continue to let everyone know he won. No real surprise here, just that facts ma'am.

From the post titled: Obama Wields His Powers to Remove Inspector General Who Investigated One Of His Supporters

"Remember folks, he 'Won' and he can do this. Give it a minute, he'll remind you of that fact again momentarily... "


True to form, Herr Kommandant Obama sends Robert Gibbs out to do his duty and let the world know yet again that 'he won'.

Will this crew begin to grow up at some point and move beyond the petty responses? Highly unlikely. You can feel good knowing that these bullies are keeping score on the political playground and are at the ready to reply with some infantile smack talk.

The Insanity of Oil Analysts, Reporters and Headlines All Rolled Into An Irrational Market

I can't figure it out. We see the headlines on a daily basis and they're often completely contradictory from morning to afternoon.

"Crude rises on signs of increased demand"
"Oil above $70 as inventories fall"
"Crude falls on profit taking"
"Oil inventories rise signaling slowing demand"

It's insane.

Much like the diet magazines at the checkout line. Month after month, issue after issue, touting the same ridiculous headlines and rehashing the same material over and over. Apparently they keep on selling. Just like these headlines being sold to the public on a daily basis.

Here's the latest headline today from AP via Yahoo. "Oil rises above $71 amid falling inventories"
The sub-headline states that this points 'to improving demand'.

What?

The author (Pablo Gorondi) notes further along in this piece that: "While U.S. inventories are still bloated with the most oil in nearly 16 years, analysts see the recent drawdowns as a sign that gasoline demand is recovering." Gotta hand it to those analysts! We'll talk about them more below...

Sure, the US reserves have come down over the past 4 weeks to still be at this near 16 year high but there are a couple of good reasons for it.

1) We are importing less oil
2) We are using less oil

To top it off, the Energy Information Administration (EIA) reported on June 17 that gasoline demand is essentially unchanged from a year ago.

Let's quickly recap:
- the US has the highest level of reserves on hand in almost 16 years (lots of supply)
- we're importing less oil (we don't need as much right now)
- US demand for gasoline products is essentially unchanged from a year ago (see? We really don't need as much right now)

Pretty straightforward stuff - easy to understand, right?

Time to dig a little bit deeper.

Mr. Gorondi's article also notes:
"Goldman (Sachs) said it expects the prices of oil to rise to $85 a barrel in six months and reach $95 by the end of 2010."

-and-

"We continue to expect an improvement in fundamentals to begin to take hold in the next several months," Goldman Sachs said in a report. "Recent data points have already begun to suggest some stabilization."

Goldman, like all the other big firms, trades in oil. They trade big money in oil.

Bloomberg recently had an article outlining the fact that global offshore oil storage is the highest it's been in two decades. An excerpt:

"Traders are now seeking to store oil products. JPMorgan Chase & Co. booked the newly built supertanker Front Queen to store 2 million barrels of heating oil off the coast of Malta, and several other traders are seeking similar deals, Athens- based Optima Shipbrokers said June 2."

So, these 'analysts' are predicting that oil prices will climb even as inventories bulge and demand remains stagnant. How can they be so confident? Well, when the traders themselves take delivery of the oil and keep it offshore, out of the domestic supply they can, in effect, manipulate the prices all they want. They are now controlling a portion of the supply chain.

I'm all for rampant capitalism and trying to make as much as possible whenever you can, but I'm also for playing by the rules. If I had the funds to store oil offshore and make a call as to just how high I thought oil was going, maybe I'd feel differently, but I don't have that kind of money. The funny thing is, it sounds like Goldman doesn't necessarily have it either but they seem to have gotten their hands on it. How?

Rumor has it, Goldman is using TARP funds (i.e.: TAXPAYER DOLLARS) to fund their operation.

Take a look through this entertaining read that covers all the gory details over at Zero Hedge (Guest Post by Philstockworld). It's from a couple weeks back but it certainly helps to give perspective on the latest EIA report. The big question is, when will we (who funded this operation) get our share of Goldman's profits?

In summary, getting back to the main point, why can't these headlines just tackle the real story?
How about:

"Crude rises as traders keep supply off market"
"Global oil reserves at all time high but held back by banks"
"Analyst predicts crude will rise after his firm stores millions of barrels offshore"

It would certainly make it a hell of a lot easier for the rest of us.

UPDATE: $134 Billion US Bearer Bonds Mystery - Is It Solved?

Not yet.

Not even close.

There are still far more questions than answers relating to this bizarre case and the more that comes out about it, the more strange it gets.

Bloomberg has been keeping tabs on it. Bill Pesek runs down some interesting notes on the sheer magnitude of dollars represented by these instruments:

249 $500 million certificates
10 $1 billion certificates

These two men (if they're the rightful owners of these presumably legitimate bonds) would be the US's fourth largest creditor.

This figure is more than the debt of the country of Brazil.

It's equivalent to the GDP of New Zealand.


These are truly staggering figures folks. Why isn't it getting larger, front page headlines?

That answer may lie in whatever the reality of origins of these bonds actually is.

If they're fake:
- Why?
- Who's counterfeiting this ridiculous amount? There are only a handful of entities in the world who can transact with these.
- Who are they intended for?

If they're real:
- uh oh...
- Who's sneaking them around? And, for whom?
- Does it signal a weakening in the faith in the US Dollar as the world currency?
- Where were they going with them?
- What were they trying to do with them?
- Who, ultimately is behind all of this?

Somebody has some serious explaining to do.

Maybe ABC can get the inside scoop on this while they're doing their exclusive, inside the Whitehouse, one-sided, 'no other viewpoints allowed' special on Herr Kommandant Obama's 'health care reform'...

California = 50 Days From Bankruptcy, Lakers Fans = $2mil+ Party

Oh yeah...

Another classic example of logic and reason being appropriately applied by politicians at all levels of government to insure they're making the best decisions possible for their constituencies.

With the state of California a mere 50 days away from possible bankruptcy, the local officials have broken out the calculators to see how they can squeeze in a $2mil+ 'Champions Parade' for the L.A. Lakers. Sounds like a case of throwing 'worse money after bad' to me...or perhaps 'pathetic money after insane' or...

Check out this brief and entertaining take on the situation from the WSJ. Even if you don't read the article, quickly stop by to check out the accompanying picture of the post game festivities - it's beautiful...

The burning television(?)
The bling
The track suit
The peace and/or gang signs
The sunglasses at night
The sheer love for the game


Sport, art, peace, love and chaos all united for a brief moment on that dangerous street in downtown LA.

Where Are The Stimulus Dollars Going As Of June 2009?

As hard working citizens, we can't keep an eye on every little detail out there with regard to where are tax dollars are being spent. That's why we try to elect accountable representation and subsequently hold our breath and cross our fingers hoping that they'll actually do their job!

Thankfully, a couple of them do seem to be doing something.

Maryland's Republican Senator Tom Coburn had his office put together an overview where and how some of the stimulus dollars are being spent. The full 45 page report is available here.
You may have already seen the press release for this report however, these ten (10) items of note stuck out and are worthy of a quick once over:

1. $1.5 million in “free” stimulus money for a new wastewater treatment plant results in higher utility costs for residents of Perkins, Oklahoma.

2. $1 billion for FutureGen in Mattoon, Illinois is the “biggest earmark of all time” for a power plant that may never work.

3. $15 million for “shovel-ready” repairs to little-used bridges in rural Wisconsin are given priority over widely used bridges that are structurally deficient.

4. $800,000 for little-used John Murtha Airport in Johnstown, Pennsylvania airport to repave a back-up runway; the ‘Airport for Nobody’ Has Already Received Tens of Millions in Taxpayer dollars.

5. $3.4 million for a wildlife “eco-passage” in Florida to take animals safely under a busy roadway.

6. Nevada non-profit gets $2 million weatherization contract after recently being fired for same type of work.

7. $1.15 million for installation of a new guard rail for the non-existent Optima Lake in Oklahoma.

8. Nearly $10 million to renovate an abandoned train station that hasn’t been used in 30 years.

9. 10,000 dead people get stimulus checks, but the Social Security Administration blames a tough deadline.

10. Town of Union, New York, encouraged to spend a $578,000 grant it did not request for a homelessness problem it claims it does not have.


Hat tip to Michelle Malkin for spreading the word to the masses.

The Big Ten Financial Bubbles Prior To 2008

Nothing new here folks.

These cyclical bubbles and crashes have been going on for hundreds of years. I'm going to delve into this in far greater detail in the coming days and weeks. Stay tuned for much more:

• 1636 - Dutch Tulip Bulb Bubble
• 1720 - South Sea Bubble
• 1720 - Mississippi Bubble
• 1927-1929 - US Stock Price Bubble
• 1970's - Mexico and other developing countries Loan Bubble
• 1985-1989 - Japan Real Estate & Stock Price Bubble
• 1985-1989 - Real Estate & Stock Bubble(s) in Sweden, Finland & Norway
• 1992-1997 - Real Estate & Stock Bubble(s) in several Asian Countries
• 1990-1993 - Mexican Foreign Investment Bubble
• 1995-2000 - US OTC Stock Price Bubble (dot com)

(Source: Kindleberger; 'Manias, Panics, and Crashes')

Just under 400 years of history to look back on and see the similarities. There are many.

Do yourself a favor and buy Charles Kindleberger's 'Manias, Panics, and Crashes' and learn how to react to the current crisis by studying the history of all those that have preceded it. Click below and get it today. It is well worth your time and $10.

VP Joe Biden Opens His Mouth And Guess What Comes Out?

"...everyone guessed wrong..." on the impact of the Stimulus.

Everyone? Seriously, Joe?

How many common sense, everyday citizens called, emailed and wrote letters in opposition to this thing?
How many public figures on radio, television and in print spoke up loudly about just how wrong this 'stimulus' was?

Everyone guessed wrong?

Sounds like everyone means everyone in the administration. I wouldn't put it past Joe to succinctly clarify this in not so certain terms before too long. He has a knack for speaking what's on his mind whether he really understands it or not.

Chicago Style Politics - Cashing Out to Cash In

Say it isn't so!

Chicago's Democrat Senator, Dick Durbin, sold $116,000 in personal investments after meeting face to face with Treasury Secretary (at the time) Paulson and Federal Reserve Chairman Ben Bernanke as reported by the Chicago Sun Times.

He sits down with them on September 18, 2008 and is selling on September 19, 2008.

Sure we were all aware that the market was experiencing severe issues but don't you think having direct contact with these two gives you something of an edge? Not according to Durbin's spokesman, Joe Shoemaker who claims that Durbin didn't capitalize on anything he was told in the meeting and that any information he received wasn't secret or classified. He does admit however, that the information was made public the next day when Durbin was cashing out so he could cash in on some Berkshire Hathaway shares.

Wise up Illinois.

Vote these corruptocrats out of office ASAP and get them off our national stage. Decades of corrupt dealings are starting to rear their ugly head as your 'best and brightest' politicians are making their way into the wider public eye. It's giving the rest of us a good impression of the collective intelligence of your voting class...

The Dark Pools Of Wall Street

Liquidity isn't a problem for the institutions. Neither is tipping off the market to your intentions when you can trade millions of shares per day without the general public knowing.

Here's a slightly aged but still relevant breakdown of the major Dark Pools that currently exist (Courtesy of Advanced Trading).

As noted in this article (also from Advanced Trading): "...from September 2008 through April 2009...the percentage of trading conducted with these non-traditional liquidity pools has grown steadily from 15% to 24%...Conversely, the market share of the single largest trading venue -- NASDAQ -- fell from 30% to 20% over the same time period."

An apparent strong shift to an essentially non-transparent market for millions of shares to be traded. Are these shares trading at open market prices? What other advantages are there to trading in these Dark Pools that the average trader/investor doesn't have access too?

There's a lot of recent talk about possible increases in regulation of the Dark Pools. Time will tell if any significant changes are made however, be prepared for a portion of the dirty underbelly of Wall St. to be exposed in the process.

Obama Wields His Powers to Remove Inspector General Who Investigated One Of His Supporters

Typical.

From AP via Yahoo

From the story:

"Obama's move follows an investigation by IG Gerald Walpin finding misuse of federal grants by a nonprofit education group led by Sacramento Mayor Kevin Johnson, who is an Obama supporter and former NBA basketball star."


Ok, so this Inspector General is apparently doing his job and finds that federal funds (i.e.: TAXPAYER MONEY) are being wasted and all of a sudden it's time to get rid of him. Makes all the sense in the world...

It does when he starts to get too close to what's really going on and the most powerful man in the world needs to step in and protect his good friends and supporters.

Remember folks, he 'Won' and he can do this. Give it a minute, he'll remind you of that fact again momentarily...

Update: Two Japanese Men Busted with $134 BILLION in US Bonds

Here's a very weak update (via Bloomberg, in English) to the story of these maybe/maybe not Japanese men busted smuggling $134 Billion in US bonds from Italy into Switzerland.

From the article:

"The Asahi newspaper reported today Italian police found bond certificates concealed in the bottom of luggage the two individuals were carrying on a train that stopped in Chiasso, near the Swiss border, on June 3.

The undeclared bonds included 249 certificates worth $500 million each, the Asahi said, citing Italian authorities. The case was reported earlier in Italian newspapers Il Giornale and La Repubblica and by the Ansa news agency. "


Counterfeit? Real? Japanese nationals?

Who knows!

Whatever the real story behind this ultimately is, it could certainly have some far reaching implications.

$134 BILLION in US Bonds Seized At Italian Border

Nothing to see here folks - move along...

Two Japanese men busted trying to smuggle $134 Billion in US bonds from Italy into Switzerland.

The official release (in Italian)


Feel free to speculate as this isn't normal. Really, it isn't...

Welcome to the Fiscal Corruptocrat!

Here we go...

Another unhappy, nameless citizen unleashing an endless tirade of disdain to the blogosphere about the economy and corrupt politicians.

Enjoy!