Financial Market Madness

I've been working a lot of hours as I am doing two jobs right now. I am still supporting my old role and business unit, while undertaking my new assignment. Having to deal with a move at the same time has left me with little sleep and time.

However, in the past weeks, I've been fuming about the hypocrisy and the madness of the financial markets. And don't even get me started on the ridiculous inferences that Networks like Fox News tries to put forward, that somehow the Stock Market is reacting negatively to President Obama's policies.

The Daily Show With Jon StewartM - Th 11p / 10c

The Dow Knows All

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But what continues to get me is the whiny nature of Banks. Recently, Sheila Bair of the FDIC has indicated that there needs to be an emergency fee assessed to all the banks to shore up the FDIC, otherwise, it may go insolvent.

Federal Deposit Insurance Corp. Chairman Sheila Bair said the fund it uses to protect customer deposits at U.S. banks could dry up amid a surge in bank failures, as she responded to an industry outcry against new fees approved by the agency.

“Without these assessments, the deposit insurance fund could become insolvent this year,” Bair wrote in a March 2 letter to the industry. U.S. community banks plan to flood the FDIC with about 5,000 letters in protest of the fees, according to a trade group.

This is the insanity that goes through Banks minds these days, the ONLY THING PROTECTING THEM AGAINST RUNS AGAINST THE BANKS IS THE FDIC INSURANCE - yet these morons are planning to send letters to protest this fee increase.

I guess Banks now understand how we feel when they charge us a fee to take money out of ATMs or for maintaining checking accounts!

But the best effort to date on pointing out the sheer stupidity and craziness of "so-called" Financial reporters like Rick Santelli of CNBC, and Wall St. has been tonight's show on "The Daily Show".

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This was a priceless moment of "STFU" by Jon Stewart to the Rick Santelli and Larry Kudlows of the world - well worth losing out on sleep to watch!

The Republican Party - Party of the Stupids

On This Week with George Stephanopoulos, we got a preview of the future leadership of the Republican Party, and it provided a great little gem of an interview with Michael Steele, which showcased just how much the Republican Party is becoming the party of the Stupid People.

Trying to sound outraged and morally superior, the hypocritcal Republican "suddenly we have become the party of fiscal responsibility" Michael Steele has this to say about Pell Grants:

STEELE: How does -- how does -- I mean, I'm all for Pell Grants, but how does a Pell Grant, increasing funding for Pell Grant get me a job when I just lost mine?

Yes Mr. Steele, please go on and tell us why you think having stupid and uneducated people in America is good for our economy. And while we are at it, explain to me why having a proper and real solution to address Health Care and Health issues is such a bad thing? Why is it that they can't get it throught their tiny little skulls, that having a healthy and educated workforce is GOOD for the economy.

Then Steele goes on to argue that jobs created by the Government aren't really jobs.

STEPHANOPOULOS: So a job doesn't count if it's a government job?

(CROSSTALK)

STEELE: Hold on. No, let me -- let me -- let me finish. That is a contract. It ends at a certain point, George. You know that. These road projects that we're talking about have an end point.

As a small-business owner, I'm looking to grow my business, expand my business. I want to reach further. I want to be international. I want to be national. It's a whole different perspective on how you create a job versus how you create work. And I'm -- either way, the bottom line is...

STEPHANOPOULOS: I guess I don't really understand that distinction.

STEELE: Well, the difference -- the distinction is this. If a government -- if you've got a government contract that is a fixed period of time, it goes away. The work may go away. That's -- there's no guarantee that that -- that there's going to be more work when you're done in that job.

STEPHANOPOULOS: Yes, but we've seen millions and millions of jobs going away in the private sector just in the last year.

STEELE: But they come -- yes, they -- and they come back, though, George. That's the point. When they go -- they've gone away before, and they come back.

I love how Steele doesn't get how dumb he sounds saying that. Exactly how are these jobs going to come back or get created when there is no demand? Exactly how do they not get that something needs to get the economy re-started. The only way to compensate in place of private spending, is for Government to step up - UNTIL the economy can get back on its feet.

But then again, these are the morons who still think that having emission standards is a terrible thing, and who fought against efficiency standards since the last Oil crisis, which meant that the US was NOT prepared this past summer to handle the high oil prices.

As I watch the Stimulus debate and posturing by the Republican party, I honestly don't know why I continue to be astounded by their stupidity and their idiotic talking points. Really, can't they ever come up with intelligent and productive ideas? Why are they always such a bunch of small minded hypocrites?

I can't put it any better than Jon Stewart, on just how ridiculous the Republican Party is and will be for foreseeable future!

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Clusterf#@k to the Poor House - Economic Recovery Plan

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Focusing on the Middle Class and yes "Joe the Plumber"

I've posted before on the tax policy comparison of John McCain and Barack Obama, but this chart really does provide a stark contrast between the two candidates. This information comes from the Brookings Institute Tax Policy Center:


During the debate on Wednesday, the Joe the Plumber became an overnight sensation. What's ironic is that in all this hoopla about Joe the Plumber, he would actually benefit MORE from Barack Obama than John McCain. This is what I call "cutting off one's nose to spite the face".

Unfortunately, Joe found out the hard way that 15 minutes of fame can come with it's own problems. Initially everyone was tickled by this Joe the Plumber character, until they found out that a) He was not really a licensed Plumber b) He made only $40,000 a year c) He wasn't truly an undecided voter.

The Daily Show as always has a very satiric view of the Media frenzy and the comedy surrounding Joe the Plumber.

When did "Arab" become a dirty word?

Recall that recently at a McCain Rally:

Woman at rally: I don't trust Obama. I have read about him and he's an Arab.

Sen. John McCain: No ma'am, no ma'am. He's a decent family man, citizen that I just happen to have disagreements with on fundamental issues. That's what this campaign is all about. He's not, thank you.

Campbell Brown cuts through the "bull" on CNN, and she rightly asks the question - "So what if Barack Obama were an Arab?"

So what if Obama was Arab or Muslim? So what if John McCain was Arab or Muslim? Would it matter?

When did that become a disqualifier for higher office in our country? When did Arab and Muslim become dirty words? The equivalent of dishonorable or radical?

I feel like I am stating the obvious here, but apparently it needs to be said: There is a difference between radical Muslims who support jihad against America and Muslims who want to practice their religion freely and have normal lives like anyone else. There are more than 1.2 million Arab-Americans and about 7 million Muslim-Americans, former Cabinet secretaries, members of Congress, successful business people, normal average Americans from all walks of life.

McCain's response doesn't do enough to correct the impression that Arab or muslims are decent people. Just because are some muslim terrorists, doesn't mean that ALL MUSLIMS are terrorists. That's like saying that because some white people are racists, then ALL white people are racists.

But in case it's still difficult to understand this concept, John Stewart and Aasif Mandvi helps us to see how ridiculous the "fear" and pride in ignorance that some of the right win McCain Supporters espouse over Obama being a "muslim".



Arab Americans have served our country in many areas. Here are just a few examples of Arab Americans who have served in the Military, Politics, and Journalism

You talk about courage … How about America’s and the world’s first jet ace? He was the Korean War hero, U.S. Air Force Col. James Jabara. In World War II, Army officers like Maj. Gen. Fred Safay fought alongside Gen. Patton, and Brig. Gen. Elias Stevens served on Gen. Eisenhower’s staff.

And in 1944, one of our Navy’s ships, the destroyer escort USS Naifeh, was named in honor of an Arab American hero, Navy Lt. Alfred Naifeh of Oklahoma. Retired Brigadier General James J. David served as Company Commander of the famous 101st Airborne Division in Vietnam in 1969 and 1970. More recently, West Point graduate and retired four-star Gen. George Joulwan was the NATO Supreme Allied Commander of Europe, where he commanded both European and U.S. troops. Brig. Gen. William J. Jabour is the Director of the Air Force Program Executive Office for Fighter and Bomber programs in charge of the F-22 System Program Office (SPO). General John Abizaid is head of U.S. Central Command in Iraq.

The first Arab American ever appointed to a Cabinet secretary post was Donna Shalala, the nation’s longest serving Secretary of Health and Human Services, and now president of the University of Miami. Former Governor of New Hampshire John H. Sununu became the White House Chief of Staff under Pres. George Bush, Sr., and later a political commentator on CNN. America’s longest-serving White House Chief of Protocol, serving seven-and-a-half years under President Reagan, was Ambassador Selwa Roosevelt. Thomas Nassif and Edward Gabriel both served as U.S. Ambassador to Morocco. Our Ambassador to Syria was Theodore Kattouf, and Marcelle Wahba was Ambassador to the United Arab Emirates. The late ambassador Philip C. Habib served as Special Presidential Envoy to the Middle East and was awarded the Presidential Medal of Freedom. Feisty Helen Thomas, who served for 57 years as a correspondent for United Press International and was dean of the White House press corps, is a Hearst newspaper syndicated columnist.

http://www.aaiusa.org/arab-americans/23/famous-arab-americans

Humor in Republican Hypocrisy

Sometimes despite the stupidity coming out of the Republicans, you have to take time for some laughs.

Here's a great clip from "The Daily Show", about Republican hypocrisy on Teen Pregnancy, Palin's Experience, and the Sexist/Gender Card.




Notice on the clips from Fox News, that great bastion of truth in journalism, their tagline "Restoring Honor & Dignity to the White House" - hello??? Who has been in the White House these past 8 years??? At least they admit to the fact that after 8 years of Bush, we do need to restore Honor & Dignity to the WH!

And another referencing Sarah Palin's crack at Community Organizers






Another very funny one from Dana Millbank of the Washington Post, on the vile Eastern elite liberal media. Yes the Republicans should be very very scared!

Jon Stewart - America's anchorman

I just read the other day that Jon Stewart, the host of the Daily Show ranks 4th among Americans as a News Anchor that they most admire. It’s pretty amazing, given the fact that he hosts a fake News Program.

http://www.nytimes.com/2008/08/17/arts/television/17kaku.html?em

This was also pretty interesting to the Pew Research Organization, so they set about to study the “Daily Show” for one year.

According to their findings:

“The program also makes heavy use of news footage, often in a documentary way
that employs archival video to show contrast and contradiction, even if the purpose is satirical rather than reportorial….In addition, "The Daily Show" not only assumes, but even requires, previous and significant knowledge of the news on the part of viewers if they want to get the joke. And, in 2007 at least, the joke was more often on the Bush administration and its fellow Republicans than on those from the liberal side of the aisle.”

“In its choice of topics, its use of news footage to deconstruct the manipulations by public figures and its tendency toward pointed satire over playing just for laughs, The Daily Show" performs a function that is close to journalistic in nature -- getting people to think critically about the public square. In that sense, it is a variation of the addition of Russell Baker, Art Hoppe, Art Buchwald, H.L. Mencken and other satirists who once graced the pages of American newspapers.”

For a good example of this, check out this recent episode, where John Stewart makes fun of the Offshore Drilling Issue. The funniest part is where you see McCain surrogates making claims that keep reducing the time that we would get relief at the Gas Pumps from OffShore drilling. He does this by using actual footage of what was said, and not just opinion. But lest you think this is a stacked deck against Republicans, Obama is not offlimits to Jon's tongue-in-cheek humor. Though there certainly seems to be more material to make fun of with McCain.

If you want to know more about the Pew research on the Daily Show, check out their website. I thought it was pretty enlightening!

http://pewresearch.org/pubs/829/the-daily-show-journalism-satire-or-just-laughs