FedUpUSA

Archive for December 16th, 2009

For saving the economy for being an even bigger fail, or something, TIME went and named Ben Bernanke its 2009 Person of the Year.

We are not generally in the business of heaping accolades on anyone, except our secret crush Jamie Dimon, so this whole thing is a little awkward. We really don’t even know where to begin — Person of the Year has included such noteworthies as Adolf Hitler, The Earth, Vladmir Putin, and You. Horrible people, in other words, so this may not even be an award so much as a condemnation. TIME even starts the piece out by calling Ben names:

He is not, in other words, a typical Beltway power broker. He’s shy. He doesn’t do the D.C. dinner-party circuit; he prefers to eat at home with his wife, who still makes him do the dishes and take out the trash. Then they do crosswords or read. Because Ben Bernanke is a nerd.

Ha ha, he lacks social mannerisms.

No wonder his eyes look tired.

Ha ha, he looks funny.

So here he is inside his marble fortress, a technocrat in an ink-stained shirt and an off-the-rack suit

Ha ha, he dresses like a Poor.

The article then goes on to explain why Ben is the best thing since sliced bread, how he saved us all from Bartertown because he is smart about the Depression, and that TIME would like to have his hirsute babies. Also, he seems to have superpowers:

recalls his MIT adviser, Stanley Fischer, who is now Israel’s central banker

says Mervyn King, who had an office next to Bernanke’s when they were young professors and is now Britain’s central banker.

What can we gather from this? Touch Bernanke’s beard and get your own central bank. Maybe he really is the person of the year.

What sort of BS is this?

The Internal Revenue Service on Friday issued an exception to long-standing tax rules for the benefit of Citigroup and a few other companies partially owned by the government. As a result, Citigroup will be allowed to retain billions of dollars worth of tax breaks that otherwise would decline in value when the government sells its stake to private investors.

What?

How much?

The “exemptions” are on roughly $38 billion in “future earnings.”  The actual value of this exemption could be anywhere between zero (if Citi makes no profit) to roughly 40% of the whole, or $15 billion.

Obama was touting the “profits” made by Treasury on the TARP repayments.  What he wasn’t saying is that not only did we flush the money (from TARP) that went into Chrysler (disclosed last night), we now find out that at the same time he was “touting” the so-called “profits” The President was handing that money straight back to the bailed-out companies via tax breaks!

So no, Mr. President, Treasury (and The American People by extension) did not “make a profit” on TARP, nor “will we recover every penny” that was paid out.

There have been several banks that have failed after receiving TARP money – we will get zero from them.  We will get zero from Chrysler and GM.  We lost 100% of the money injected into CIT, and now you have handed out billions of tax credits to Citibank.

Where’s the so-called “populism” – that is, the protection of “the little guy” while making those who were responsible for this economic mess pay for their sins Mr. President?

If you’re a Democrat and believe that you were electing “Hope and Change”, you might want to think about what you actually bought with your vote – not what you were sold.

This 50 minute interview with Steve Patterson discusses some concepts of money and our economy, setting the stage for people to understand the plan we are about to present. The next show up will be a conversation with Bill Still, and then we’re going to present the outline of Freedom’s Vision shortly there after.

I’d like to thank Steve for spending the best part of his Sunday working on this. He feels strongly about helping our economy and I certainly appreciate his efforts, he’s a great guy.

Speaking of great people, we have a website for this movement coming, several volunteers have taken the reigns to help create what will be a dynamic site to act as a home to the American Party and will act as “Swarm Central.”

Two Beers with Steve interview: Foundation for Freedom’s Vision

And here’s a link to Steve’s site, he has some great interview guests, I hope everyone visits and supports his site: Two Beers With Steve…