Friday, April 16, 2010

Tea Party/More Tea Party/SEC/Casinos

Another blog in town occasionally focuses on the Tea Party movement (I consider it an activist movement). I am amazed that terms such as “ignorant” and “stupid” are applied to those who simply disagree with the positions of the far left and especially pointed to the TP. The terms are also somewhat of a contradiction in that one is lack of knowledge while the other is lack intellect. But I guess in the isolated world of the “blessed” it is interchangeable with those who differ both eligible for the tag. I assume far left fear is one that is based in a bit of truth in the TP movement and that seems to scare the bejabbers out of the moonbats. Nothing like a smidgen of truth and an honest discussion with tagging to toss them off kilter. To find out more about the TP I talked to a real live Tea Party member.

What he finds just “ignorant” and “stupid” is the incessant patter of the far left that is just a party line that they all seem to preach. Lock step with the same phraseology over and over. A real mantra without substance or content. The Tea Party are not racist and brick throwing thugs but folks who are just concerned with the real issue that he described in one word - policy. I guess this is a case of “deflection” where without facts you toss out slogans in an childish attempt to get off the facts and your opposition into defensive mode. The shallowness is so apparent it is laughable. He went on to state that with any movement it is possible to attract a fringe element but he has witnessed none. Me? I’m sure it exists and is overstated such John Lewis and others claiming racial taunting. That is starting to look like another fictitious fantasy designed to debase opposition. Despite all the microphones, cameras and cell phones present none picked up anything. So far a $100,000 reward for proof of racial taunting has not been collected. Maybe it will but until then I will remain a skeptic.

I read some interesting stats on the Tea Party. 58% classify themselves as conservative versus 34% of the general population. 89% are white. It is predominately male. Only 20% at the rallies have made any monetary contributions. They are active voters. Most have a college degree or some college.

The casino and slots were inevitable. The up front money is attractive and the impacts are either ignored viewed as overstated. Didn’t help when the pro’s managed to take the high ground in the debate by picturing the anti’s as just a fringe group of malcontents.

Senate has to approve the latest venture into gin mills so expect a little debate and then approval.

The housing market continues to drag any recovery down to a virtual standstill. Home builders are out of the Fortune 500 for the first time in decades.

Manufactures don’t appear in any great hurry to build up inventories and that trickles right down the financial food chain.

Economic information fluctuates more than BB’s weight. One week job data is spiffy and the next it is in the toilet. Then consumer confidence shoots up and then the next month bottoms out. No consistency. That unemployment figure is still way too high and it is skewered by government hires. Go deep into the data and you see job creation that is not anywhere near what folks were use to. Less pay for more work and service oriented.

The most gutless of agencies was in full swing on Friday. Come on down, SEC, and totally Clark up everything. These layabouts with strong ties to the banks and the fiscal incompetents in the current administration finally moved on Goldman Sachs claiming fraud! Well how do you do you collective geniuses. You figured it out after years of warning? Then you move ahead on a Friday after the Asian and European markets have closed. There are a small fraction of folks I can actually say with great confidence “I can do better than that” and the SEC is on top of the list.

The financial havoc created Friday to bank stocks also offer opportunity. A nice 5-10% drop made several more attractive.

17 comments:

Family Guy said...

Republicans are meeting today. I wonder if anyone cares? Will the Tea Party show up? Tea Party is also running some candidates around the country to oppose more moderate Republicans.

Casino legislation is now in the domain of the Massachusetts Senate who I am sure will make some modifications to prove they are really part of the process. Casinos and slots will eventually be part of the Massachusetts landscape if for no other reason than to capture revenue being lost to other states.

In my opinion the negative impacts are grossly overstated by opponents to gaming and that is no great surprise. They remind me somewhat of the Global Warming group.

Time to enjoy what is best described as a dank and dismal day.

bogofree said...

The latest Massachusetts bank to fail is the Butler Bank in Lowell. This tidbit gathered in virtually no attention in the local press and warranted a one line blurp in the national news. The failure list for the last year or so is now up to over 140 and little attention is being paid. Why? FDIC.

The FDIC was a creation of the FDR Administration in 1933 to deal with runs on banks. When a bank failed all was lost. Anyone who has watched "It's A Wonderful Life" saw George Bailey attempt to negate a bank run. This would snowball as one bank failed folks would run to a perfectly stable bank and withdraw their funds forcing the institution to sell off investments to pay depositors. The FDIC stopped that. Deposits are protected up to 250K so even with the largest plague of failures since 1992 little attention is being paid and for depositors a failed bank represents a temporary inconvenience and not a financial loss.

Miserable outside today.

Suo Mynona said...

I miss Tim Russert. He was the only network interviewer worth watching IMO.

Hannaford Phantom Shopper said...

Good to run into you, bogo. Always enjoy reading your blog. All points of view seem welcome here.

Continued down turn in economy has finally caught up to high tech industry. Two years from retirement and facing layoff. No such thing as lasting with a company long enough to earn that gold watch anymore. Who would have thought I'd be hitting the pavement across the country at this age. Guess I may as well look at it as an adventure though it's hard to muster up that Indiana Jones stamina anymore. Oh well, gotta do what you've gotta do to survive. Some prozac may be a consideration. LOL

I believe I owe you a breakfast at Percys. This time let's hit it before the crowds descend. Let me know what's good for you.

Suo Mynona said...

Percy's is the most expensive breakfast in town IMO

bogofree said...

Percy's is the most expensive and I'll have to let you pay since I'm retired and living on two simple government pensions. Send me an email Hannaford and we can get together - been awhile. Be interested in some of your ideas on teaching. Was interesting last time.

I hated it in the dreaded private sector. Layoffs, change in management, companies merging and companies going belly-up. Gilman Bros., Howard Johnson's, Systems For Advanced Information, Boston Gear Works and just some of the companies I worked for that no longer exist or are a shell of their former self.

bogofree said...

Article in The Enterprise about how some Massachusetts RV owners are avoiding sales and excise taxes by registering their vehicles as a LLC (Limited Liability Corporation) in Montana since Montana does not charge an excise or sales tax. The RMV is attempting to track down the RV owners to get the fair share the state deserves. What you are I and most of us pay.

What I wonder about is not the morality of the issue but why doesn't Montana have these taxes and we do?

Wally Glendye said...

Finally got rid of the Water after 4 weeks. F.E.M.A. was at the house yesterday and it looks like they may help out. We lost a lot however and we have a serious mold problem to deal with my wife Sue and my Son Scott both have asthma and are having trouble dealing with it. We need some warm days so the house can air out. F.E.M.A. has been all over the neighborhood and there are so many people trying to get money just because they had a little Water in the Basement. At 3:00pm yesterday when they came to my house, the Inspector told me that he was glad to be of help. I was his first legitimate claim of the day.

Wally Glendye said...

Sorry, I forgot a period in the middle of a sentence.

bogofree said...

Good new to hear. At least FEMA did or may do something for you. Maybe they'll give you one of those New Orleans trailers? The mold is a real issue as my son has been dealing with it at his house with his spray bottle of bleach.

Sox are just dead. TB is killing them again. Season may be over my mid May.

anonymous said...

What is so hard about putting my trash barrels back where I left them?

Wally Glendye said...

I look forward the Game on Patriot's Day every year and watching the Marathon afterwards. What a dissapointment yesterday was! At least the Bruins are starting to get their act together and are playing old style again.

bogofree said...

Don't get me started, Wally. I have gone to war the last few years with the UZR (Zone Defense) folks and I just love it when I see Cameron with kidney stones and a stone glove prove me right. A legit ball hawk is sent to LF to make way for another ghastly Theo mistake in the making as they were busy "running the numbers." What is it with getting guys no one wants and overpaying?

This team is playing with no heart and look too much like the players I grew up watching in the 50s. Pedroia made a comment that said much the same. I also understand Papi has been sullen and disconnected in the locker room. That kid was the heart of that locker room and now he's in a funk.

They fall apart against Texas and O's and it may be a very long season. 1-7 against Rays and NY and they were 19-17 against them last season. Sox will be in same position Rays were in last year being 6 or so games out and never catching up.

Suo Mynona said...

****You Paid More Fed Income Tax Than General Electric****

Forbes Magazine:

General Electric
Sales: $157 billion
Pretax income: $10.3 billion
Income taxes: (-$1.1 billion)

They do "make lots of money overseas, where tax rates are lower."
***********
Our government pushes all of our jobs and corporate taxes overseas. Something the ultra lefties can can wear as a badge of honor.
*****************

The remaining small businesspeople with an S Corporation are taxed into virtual oblivion.

anonymous said...

Can anyone comprehend how boring the casino issue has become? Get a life, folks, other issues are out there.

Two in a row, Bozo, is this the turn around?

bogofree said...

Suo

Are you telling me you do not believe in excessive taxes? "It's for the children." Nice that the far left has done everything possible to gut business at home.

bogofree said...

Anon:

I hope they do turn it around since I'll be in Denver and SF this summer. If they are 15 games out I'll have to wear a Royals shirt or a paper bag over my head.