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Name: Terry Kinder
Location: Jackson, MO
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Economic Recovery, Stabilization Not Same

Posted by Terry Kinder on Sunday, May 31, 2009 6:54:44 PM
Berlin - view from Siegessäule with viewing di...

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Let me beat a poor dead horse a little more. All of this talk about “green shoots” is a load of horse manure. Edward Hugh, writing an article titled Seeing is Believing, But Stabilising is NOT Recovering, in the Global Economy Matters blog.

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Government Steals From Taxpayer to Pay Soon to Re-Default Mortgages

Posted by Terry Kinder on Sunday, May 31, 2009 4:48:15 PM
Fannie Mae and Freddie Mac: That went well

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Not tired yet of getting looted by government bailouts? Well, Michael Shedlock of Mish’s Global Economic Trend Analysis has an article titled More Prime Foreclosures; More Re-Defaults that will get your blood boiling. You would think our government would have learned its lesson about bubbles after Alan “Bubble Blower” Greenspan and Fed Chairman Ben “Fannie Mae Freddie Mac Daddy” Bernanke pushed our economy to the edge of the abyss by holding interest rates down at artificial and unsustainable levels. You would be wrong. No, instead the government is going to provide taxpayer-funded incentives to refinance mortgages through the Making Home Affordable program. These newly refinanced mortgages will likely re-default in 6-12 months. Yes, you read that right. You are paying many of the same mortgage servicers who made bad mortgage loans to make more bad mortgage loans.

Details highlighted my Mish are provided by John Mauldin in his weekly newsletter titled This Way There Be Dragons.

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The FED Blows

Posted by Terry Kinder on Thursday, May 28, 2009 2:14:44 AM
The United States Consumer Price Index from 18...

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The Federal Reserve Bank (FED) stole my lunch money. Your lunch money too. Actually, the FED stole much more than lunch money. Here are just a few things the FED has stolen or is in the process of stealing.

1. They FED has stolen untold amounts of money from the people through inflation. As the U.S. Dollar becomes devalued, each dollar is worth less. Inflation is not rising prices, but currency devaluation. Rising prices is merely a symptom of inflation, not inflation itself. The elimination of the Gold Standard, in combination with FED policies, picks your pocket.

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Let State Legislatures Pick U.S. Senators

Posted by Terry Kinder on Tuesday, May 26, 2009 1:45:18 AM
United States Capital

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One of the biggest mistakes ever made through our Constitutional Amendment process, perhaps with the exception of the 16th Amendment – income taxes – was the decision to ratify the 17th Amendment and directly elect Senators. Previously, Senators were chosen by the state legislatures. Members of the House of Representatives were elected directly by the people to represent their interests. Senators were chosen by the state legislatures to represent the interests of the states. This was part of the Great Compromise, or Connecticut Compromise, which helped settle the dispute between large and small states over how Representatives and Senators would be apportioned.

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Conservatives Parody Selves

Posted by Terry Kinder on Monday, May 25, 2009 5:51:05 AM
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A conservative once wrote:

A substantial portion of the conservative movement has become a parody of its former self. Once home to distinguished intellectuals and men of letters, it now tolerates and even encourages anti-intellectualism and jingoism that would have embarrassed earlier generations of conservative thinkers. There are still some good and decent conservative leaders to be found, and a portion of the grass roots has remained uncorrupted by the transformation of conservatism into just another Big Government movement. But Big Government at home and abroad seems to suit many conservative spokesmen just fine. Once in a while they will latch on to phony but conservative-sounding causes like “tax reform”—almost always a shell game in which taxes are shuffled around rather than actually reduced overall—in order to pacify the conservative base, but that’s about it.

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