Author Archives: Special Contributor

Guest Post: George on Buggered. Really Really Buggered.

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This column responds to
Bugged. Really Really Bugged.
posted July 13. The author calls it
“purely, ideologically speculative
and opinion by Mr Poleczech.“

I have to come back here to discuss the real issue — I am persuaded that the real issue is neither about religion nor about civil rights.

The Southern Christian Leadership Conference is strongly opposed to same-sex marriage; and that conservative stance is directly contra to the political stance of the Democratic Party. That fact has to gall party leaders who do everything possible to woo homosexuals to the Democrat side–and keep them there.

You can well bet that Rev. Lee made his pro-gay marriage proclamation after consultation with top party leaders and with a promise of $trong $upport. If we could follow the money trail it would lead us right to my next paragraph:

This whole thing has everything to do with patching a rift in the Democratic Party by bringing that faction (the negro voting bloc) fully into the fold by supporting one of the party’s biggest priorities: placating the homosexual community.

Reverend Lee did his part by bringing it to the forefront and forcing a vote where negro Democrats will have to stand on one side of the line or the other. Either they are pro gay or not. There will be no line straddling.

Of course, the party will be relying on the ancillary support of liberal republicans and wide-eyed moderates, who would be the last to suspect disingenuous intentions by an organization of “Faith”. These helpers will gasp and take an immediate 90 degree turn and tackle the seemingly obvious — but fake — reason for all the ado. These helpers will, of course, come out on the side of homosexual civil rights with a denunciation of religious beliefs — adding additional props, when all the while the Party of Roosevelt and LBJ can stand by with a pious expression and click its tongue at those who might still have the balls to stand in opposition.

So. it’s all about solidifying the Democratic party. Nothing else.

 — George Poleczech

Guest Post: Bob says I ask you, Senator Specter–DID YOU KNOW?

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Arlen Specter (D-PA) is the correspondent’s senior United States Senator from Pennsylvania.

Dear Senator Specter:

I will make this as short as possible.

As of Monday, May 24, just 6 days ago, the federal government was supposed to get 50% of General Motors new stock, the UAW 39%, the bondholders 10% and the original stockholders the remaining 1%. (I bought GM stock based on that.)

This was sure never to fly as the bondholders would expect the courts to give them more so it was a “deal” designed to ensure bankruptcy.

On Friday, the deal suddenly changed. Now the UAW gets 17.5%, the Feds get 72.5%, and the bondholders still get only 10%, albeit with warrants to buy 15% more stock. Common stock becomes pure trash.

Why did the UAW ownership drop? Did the UAW agree because they thought that the additional money would go to the bondholders, potentially averting a bankruptcy that destroys the value of their own common stock?

I ask you, Senator Specter: DO YOU KNOW?

If you do not know. do you know anyone who does know? There hasn’t been a word breathed in the press, so I assume the media must not know (or doesn’t care since a bankruptcy would sell more copy. Even the Wall Street Journal thinks the government “sweetened the offer” to the bondholders (at the same time the government upped its own holding by almost a third, a little fact that keeps slipping through the cracks.)

If you do not know, why is this bankruptcy allowed to proceed without a timeout for hearings, so the executive branch can explain under oath what the hell they are doing to the American people?

A bankruptcy will insure that the GM stock in millions of 401Ks (actually already “201Ks” or even “101Ks” ) around the country can NEVER recover their value. Without a bankruptcy, they could eventually recover.

This government takeover leaves millions of people’s retirement prospects destroyed, including many who are already retired and unable to start over. That includes the UAW members who accepted a smaller share of the new company plus non-union GM employees, dealer employees, in addition to mutual funds that are held by people all over the country. A large number of Pennsylvania retirees and stockholders are your own constituents and voters.

I ask you, Senator Specter: What is the benefit to destroying the common stock? Why destroy business ownership if the deals in place let the GM stock in those 401Ks recover?

Is it the business of this government and the political party you joined to insure that people can never retire?

I ask you, Senator Specter: What will the impact of the bankruptcy be on the healthcare programs for GM employees and retirees? We are not just talking UAW line workers, but all GM employees, union, non-union, and professional. Is it the business of this government and the political party you joined to make sure people have poor healthcare?

Or is it the intention of this government and the political party you joined to build demand for nationalized healthcare!

I ask you, Senator Specter: Wouldn’t such an approach be fraudulent?

Ralph Nader, whom I historically have despised for the fraud he perpetrated with Unsafe at Any Speed, published an editorial in Wall Street Journal on Friday. I laud him for raising the issues and for pointing out that IT IS NOT TOO LATE TO AVOID THE BANKRUPTCY OF GENERAL MOTORS.

It will take more than that lone voice in the wilderness.

We need a major voice in the Senate to call for a time out and for hearings to that the American Public can understand what is being done in their name. YOU MUST DO THIS TODAY.

Thank you.

(signed)
Bob Post, registered voter

Footnote:
Arlen Specter (previously D-, then R-, and now D-PA) is the correspondent’s senior United States Senator from Pennsylvania. Senator Specter had been a member of the Democratic Party before switching to the Republicans to win a campaign for district attorney. Elected to the Senate in 1980, Specter rejoined the Democratic Party this year when he discovered he would lose his upcoming Republican primary.

Guest Post: Geno says It Is Deliberate

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Some back story:

On February 4, 2009, Congressional Budget Office Director Douglas W. Elmendorf wrote to Senator Judd Gregg that the CBO has conducted an analysis of the macroeconomic impact of the stimulus. CBO estimates that this Senate legislation would, in the long run, cause a “decrease in gross domestic product (GDP) compared with CBO’s baseline economic forecast.”

One of my correspondents replied, “It is difficult not to conclude that Congress is the arsonist who starts the fires and then rushes in as the firefighter to ‘save us,’ only to set yet another fire.”

He also reminded me of Congress recent culpability, to wit:

Congress has heard, over and over and over again, about the Social Security deficit coming in our lifetime and they have with all deliberation ignored it.

Congress has heard, over and over and over again, about the Medicare shortfall coming in our lifetime and they have with all deliberation ignored it.

Congress has heard, over and over and over again, about Mortgage Crisis I problem and they frittered away 350 billion dollars on it.

Congress has heard, over and over and over again, about Mortgage Crisis II (the “good” Option A and ARM notes coming due) problem and they have with all deliberation ignored it.

Congress has heard, over and over and over again, that throwing trillions of dollars to their friends while looting the last of the great and little manufacturers (the car companies and America’s small businesses) is a bad idea. They have with all deliberation ignored that, too.

With that as the discussion that goes before, regular correspondent Geno sent this along:

“We is doomed,” wrote Bob and Dick.

That, we may well be.

Congress (largely both sides of the aisle at this time) is a self-serving entity. Members of Congress see this as a money tree and a way to get reelected. The unuttered charge is, “don’t try to derail my gravy train with facts.”

They simply don’t want to hear it; so no amount of public opinion will slow the train’s engineers.

On the Right, a few conservatives are holding out, but only marginally. And, of course, moderates (read that republicans who are too wimpy to admit their liberalism) do not care because they have no core values upon which to stand. They are Right when Right fits their need and Left when Left best fits. Keywords here are “their need.” I hate that in both a leader and a follower.

The economy was bad during the Carter years, and interest rates were high double digits. Now it’s bad and interest rates are next to zero. So, where’s the connection? Maybe there is none. Maybe it is a mirage. Maybe even the way a nation measures its wealth is an aberation.

Of course, wealth is a virtue and a national treasure. But when wealth is measured by a string of numbers on paper–or worse by how much of it one can hold in ones hand, then it is a tenuous virtue indeed. Does anyone really believe that there are enough greenbacks in circulation to pay every American the amount he claims he owns? Or for that matter, enough gold in Fort Worth? (forgive the Texas joke).

Perhaps money has no color–green or otherwise–and exists solely in the elbow grease and common production of its citizenry.

We have strayed so far from that tenet that even I scoff when I write it.

Money is the root of all evil, some theologians will say. But, contrary to common wisdom, the Bible does not teach that. It clearly says that “the love of money” is the root of all evil.

And there are people committing that sin who don’t have a dime.

Guest Post: Geno on Changing Political Party Affiliation

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Regular correspondent Geno sent this along:

Yesterday I went to my financial planner with a check for $30,000 and purchased a fixed-index annuity. I had withdrawn the money from a passbook savings account that paid me .75% interest, and when I purchased the annuity I got an immediate 15% bonus ($4500).

So, my $30M in the savings account would earn me about $300 a year after compounding, but the 15% bonus on the annuity earned me $4500. That equals $34,450 or an increase of $4500. The downside is that I can only draw out %15 of it per year for income if I need it. I don’t need it.

I have a half dozen of those, and a couple are well above $100M–and each of them will let me draw out 10% per year for income if I need it. I don’t need it–because…

…Mrs Geno and I sat down last night and figured it out. Since President-elect Obama’s tax plan will ensure that no one earning less than $50 will have to pay income tax, she and I will join the Democrat party in 2010. She plans to retire in 2010–after which we will both be pensioners, earning prolly around $27,000 and only withdrawing enough from our annuities to stay below the $50M cut-off line.

Of course, once we are democrats we will vote to make sure that the arrogant people earning above $50M get no tax relief. Screw them, the selfish f***ers.

Hoperfully Universal Health Care will have become a reality by then or shortly thereafter. It sure would be nice to sit back with $50M and not have to pay anything out for taxes or victimization expenses like health care and such. Mebbe we can get a tax rebate for driving old cars–even though we will not have paid any taxes. I love liberalism.

I have always wanted to be a democrat because I love Katie Couric … and that Dan Rather was a hoot.