just in in-tray
player 1: Why are the angry citizens of the United States not marching to Washington to throw out the corrupt bums in office? - because they have been deceived by those they elected to look out for their interest.
Last week, Obama signed into law "The Worker, Homeownership, and Business Assistance Act of 2009".
Here is the Fact Sheet though the word "Fact" is loosely interpreted.
whitehouse.gov
The media immediately picked it up as the $8,000 tax credit bill and totally ignored the main components of the bill. (My apologies to my friends in the media on this email list. You dropped the ball. It is not too late. Tell your readers the truth.) The value of the tax credit is exhausted. It is just a disguise to give the builders a bunch of money. The builders are uniquely positioned to benefit because they were irrationally profitable for the tax years carried back and suffer huge tax losses today. Not many other industries have same.
Specifically, this is the paragraph that I am talking about:
Creates Jobs by Cutting Taxes for Struggling Businesses. The bill provides an expanded tax cut to tens of thousands of struggling businesses, providing them with the immediate cash they need to pursue an expansion or avoid contracting or furloughing their workers. The Economic Recovery Act included a provision that allowed small businesses to count their losses this year against the taxes they paid in previous years. Today, the President extended that benefit for an additional year and expanded it to medium and large businesses as well. Business losses incurred in 2008 or 2009 can now be used to recoup taxes paid in the prior five years. This provision is a fiscally responsible economic kick-start, putting $33 billion of tax cuts in the hands of businesses this year when they need it most, while enabling Treasury to recoup the majority of that funding in the coming years as these businesses regain their strength and resume paying taxes.
Yesterday, Ryland sent out their official thank you note. The other builders are either rude or else they are still too busy laughing at how they suckered Washington.
investor.shareholder.com
CALABASAS, Calif., Nov 09, 2009 (BUSINESS WIRE) -- On November 6, 2009, President Obama signed into law The Worker, Homeownership, and Business Assistance Act of 2009. The Act permits the Company to carryback its anticipated 2009 net operating loss to previously profitable years that were not available to the Company for carryback prior to its enactment. In light of the new tax legislation, the Company plans to book a tax benefit in the fourth quarter for the full year 2009 and anticipates receiving a federal income tax cash refund of approximately $80.0 million to $120.0 million during the first quarter of 2010.
There is no doubt we have too many builders in the country, building way too many homes that largely contributed to excess inventory today. The free market has been struggling to correct the imbalances, forcing many builders to fail, many that should not be in the business in the first place.
So Ryland received $80 - $120 million totally FREE money. How about the other losers such as Beazer and Hovnanian? We will soon find out.
What the hell is the logic? Give money to builders so they can build houses that we do not need in areas that result in anti-green urban sprawl to buyers who cannot afford to buy unless they get a tax credit or other form of subsidy?
Am I the only person outraged?
player 2: The 2nd Revolution is underway.You saw it in the Gubernatorial elections.The elections next yr will send a stronger message.300 co-sponsors for Paul's bill to audit the Fed.It's happening,but without fanfare or bullets.The people with a stake in the system will take the country back.But they have jobs to go to and families to protect.Give it time.Obama is a one term President.The USA will return to it's libertarian roots,though the debts passed on to the innocent will be enormous,and that is the greatest crime of all.
player 3: Not sure if he is a one term president. He will cheat and try the utmost to win again.
player 1: but it is not just Obama, or Bush, there are still Frank, Pelosi, Dodd, Shumer ..............
Is it possible to just send everyone home and start over?
I did not mean to single out Obama, or anyone in particular, or democrats, or republicans. My political affiliation is NOTA (none of the above).
player 4: I am sure the Democrats are enjoying the fruits of power. I expect they will do almost anything to stay in power as they currently have pay to play working for them and it sounds like they are really enjoying it. We can count on them doing what they think it will take to retain or extend their control of congress. Time is running out for 2010 so the odds are very high they will do something and what they do it will likely be big and move the markets.
They might do a second stimulus but all they can point to on the first one is the claim it would have been worse without it.
They could expand on our war activity after all they have the GOP example.
They could also do something new and off the wall. I doubt if they do anything effective but what they do might be a surprise.
I will be shocked if they do nothing before the 2010 congressional elections.
I think a lot of people have been hurt this downturn so they are starting to pay attention to what Washington is doing. We have a ways to go before the J6P majority is pushing for effective reform because J6P has to learn how to get information beyond the spin.
I think the politics of this is very likely to make or break some investments over the next 6 to 10 months. I have not found any information on anything we count on and I have been looking hard. I don't like it at all but it looks like we might have to wait to see what they do and hope for the best. In times like this gold seems like a good place to be.
player 5: in Europe, socialism is too ingrained already, but there is a good chance Americans will reject it - they've done it before, to some extent at least
tobagojack: in my view, the americans who would reject socialism are dwindling, due to birth count, economic imperatives, and knowledge lost;
knowing instigators may well complete the hijack of the ignorant acquiescence, as in the case of bush ii on foreign policy and now obama iii on domestic same. when the population becomes progressively more foolish, and universal sufferage is a birthright, what happens naturally happens all the time.
the next punishment? palin i? pelosi x? or much worse?
as the economics of the situation inexorably progress to its natural end, from argentina toward zimbabwe and then round trip to argentina again, socialism will become more popular, and enough of the time only to be improved upon by more extremism. folks who are bankrupt and bankrupting tends to become more extreme, and so poisoning the 'social mood'.
it takes time and pain to wind down an empire, and if we do not for a moment put faith in the science fiction of the nature of the empire under discussion, and peel away the layers of spin, instead of exploration, think genocide, rather than democracy of the free-willed, imagine why a nation full of guns cannot possibly have any other kind of rule, and then we superimpose the severe weakening of all other states through the attrition of war while nourishing america via war profiteering, all helping to result in a prime hegemon sporting a fraud-enabled and debt-ly sinned faith currency, then what happened and is happening is merely a fractal reflection of yuan dynasty or rome domain, i.e. we have been here before.
yes, the tail of the hegemon may flip and flop as it goes down for the count, harming many and damaging much, but down is the direction, else history ended.
the calibre of folks in charge, be they on wall street or capitol hill, is a function of the system, and mr obama bush and ms bush pelosi and wannabies such as ms palin whatever are a consequence of whatever infuses the system.
that be my working theory for today.
recommendation: getmoregold, buy as one secures excess, accumulate as one gains surplus, keep getting, keep the faith; have fun with derivatives of gold, in, out, sideways, everywhich ways, and do not keep score, it will not be important until the final tally.
cheers, j |
