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Preparing for Bushvilles

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Richard Roesler at Eye on Olympia notes the Washington House of Representatives has approved a bill that would prevent cities and counties from prohibiting recreational vehicles in parks, an apparent attempt to provide people with a residence of last resort.

And of course a growing tent city in Sacramento has drawn international media attention.

Wall Street gets the TARP, everyone else gets a blue tarp. Pass the beans.

Comments

  2. 2

    I see the wingnuts are still trying to pretend that George W. Bush never existed. They manage to blame everything on Clinton and Obama, and skip the eight years in between as if they never happened.

  4. 4

    I wonder how long the wingnut welfare from Koch, Walton and the rest props the Pooper up?

    Probably pretty long. Those people have deep pockets.

    Tell the truth? LMAO!!! That means just go further to the right, when in doubt pump up the Limbaugh..

  5. 5

    So Scott claims he’s a journalist, huh?

    That’s about as silly as it would be for Dick Clever to pick up a bagpipe and claim to be a musician.

  7. 7

    Kinda weird how Wall Street is all smiles after Citigroup announced that they were “profitable” for the last couple of months. Is that supposed to be before or after the bazillions Uncle Sam dropped in their tin cup because they were supposedly broke?

  8. 8

    Funny, I still hold a few store credit cards, although I seldom use them (and pay them off immediately thereafter when I do). A couple of weeks ago I got notices – on all of them – that Citicorp (which apparantly is now financing them) is “changing” the terms.

    After going through the fine print on some twelve pages printed front-and-back on tiny 2″ X 3″ continuous paper, I figure out that they are going to raise the interest rates to 24.9%, and the default rate is 29.9%, which they will apply to the entire balance from that point thereafter the first time a payment is one day late in being processed in their office. (Note: not RECEIVED by them – PROCESSED by them).

    That’s what Citicorp is doing with their share of the 1/3 of a trillion dollars which the Bush administration and Secty of Treasury Paulson said was necessary for taxpayers to give to the banks in order to stave off the next Great Depression. They are offering to lend it back to us at 25% – 30% interest.

    And no, that wasn’t Obama or the Democratic Congress at fault for that one. That was all done by Bush and his Secty of Treasury Paulson.

  9. 9

    You’ve had way too many beans already, JD. You stink.

    Question: During all those sodden dank wet-dog midwinter days in mid-1990’s Seattle, those glorious Clinton years of yesteryear when campers under the Yesler overpass on 5th were packed in nuts to butts like a Middle Passage slave ship, why wasn’t that funky encampment called by its real name, Billville?

    Why, later, didn’t someone ask why Blue Dress Bill had time to molest the hired help but no time for bailing out the forgotten man and forgotten woman on the bricks?

    Perhaps bent Bill (bent and to the left) had other priorities … such as plotting the bailout of rich Mark Rich. Or perhaps Bill was busily plotting his own trajectory from trailer trash to economic royalist.

  10. 10

    Perhaps you should discuss your little problem with Citi’s Bob Rubin, Clinton’s brain. Rubin made out like a bandit (at your expense?) while driving Citi into the ground. Aside from a pretty good January and February.

    No demure demurral from me about Autocrat Paulson. Check out Thomas Woods Jr’s critique:

    Using the Fed’s own figures, the (Celent) report concluded that the alleged ‘credit crunch’ was totally overblown: the amount of lending had been very high all throughout the crisis, including everything from consumer credit to interbank loans. The U.S. government, the report suggested, was falsely extrapolating from the difficulties of a number of large, high-profile institutions (especially commercial and investment banks and the automobile industry) to the more general concludion that a credit freeze was afflicting the economy at large.. “It is startling that many of Chairman Bernanke and Secretary Paulson’s remarks are not supported or are flatly contradicted by the data provided by the very organizations they lead,” the report said. …

    Things began unraveling quickly. The following week the Fed orchestrated Bank of America’s purchase of Merrill Lynch. Shortly beforehand, Paulson had lined up ten financial institutions to work out a bailout of Lehman Brothers. Merrill Lynch was one of those ten. “Paulson was so out of the loop,” wrote one observer, “that he did not realize that not only could Merrill Lynch not come up with $7 billion as its share of the proposed bailout (of Lehman), it would cease to exist as a separate institution before the day was over. …

    Even Hugo Chavez, Venezuela’s socialist president, found this a stunning move for a nominally market economy to take. “Bush is to the left of me now,” he said. “Comrade Bush announced he will buy shares in private banks.” [Ayn-Rand conservative Alan Greenspan and Republican senator Lindsey Graham suggested that we nationalize our banks. Which we’ve done, de facto.] …

    First the complaint had been that the banks were too reckless [with their ‘predatory’ affirmative action loans], and not careful and conservative enough. Now it was that the banks were being too careful [by not immediately lending money they’d received from Bush/Paulson bailouts.] …

    [Paulson’s TARP of last October evolved from a rescue of the banking and mortgage credit systems into a lubrication of the systems for car loans, student loans, and credit cards.] … if there’s one thing Americans need more of, it’s credit card offers. …

    The financial industry will continue on its way in the knowledge that the big players are, in the opinion of government, “too big to fail,” … although mismanagement at an average-size firm will be punished with losses, gross mismanagement on a gigantic scale will be rewarded with credit and funds [taken] from innocent third parties. …

    [As of yesterday, corrupt or incompetent home owners will be rewarded with money taken from innocent third parties.] …

    If people see that instead of foreclosure, homeowners who don’t pay their mortgage recieve a federal bailout, they are more likely to be careless and reckless … The problem was the initial inflation of home prices by the unleashing [by Ayn Rand apostle Alan Greenspan] of the Fed’s credit spigot … falling home prices merely brought to light this initial distortion. They are the market’s way of correcting it and revaluing asset prices rationally. [Obama’s policy is to prop up the bloated and irrationally inflated prices of real estate.] …

    Alternatively, the Fed can just print more money for the Obama administration to spend, a process that makes existing money go down in value. [Between Sept and December, the Fed balance sheet more than doubled.] …

    And with the entitlement collapse on its way thanks to the coming insolvency of Social Security and Medicare — another predictable crisis that everyone will pretend couldn’t have been foreseen — and tens of trillions of dollars coming due on that front, something has to give. …

    – Via Meltdown, a book by Thomas E. Woods Jr., via Harvard and Columbia, von Mises and Hayek.

  11. 11

    Paul Harris, on KIRO this morning, was appropriately respectful to Dr. Sowell. A caller, in response, was dutifully insane about the current crisis, which is a terrible thing to waste, being a monument to Reagan’s deregulatory thug-life thug right. Here’s the rest of the story, via New York Review of Books:

    The Obama team has not yet announced its thinking about how to reregulate the financial community once the economy is righted again. The team of economists headed by Lawrence Summers, the former Treasury secretary (1999–2001), were, after all, themselves supporters of financial deregulation in the 1990s when most of them were members of the Clinton administration. As the Times’s series notes, Rubin, who preceded Summers as Treasury secretary (1995–1999), Summers, then his deputy, and Greenspan opposed regulating derivatives. In 1999, Rubin and Summers supported the repeal of the Glass-Steagall Act, the New Deal restriction separating investment and commercial banking.

    In fact, with the blessings of the Clinton administration and Greenspan, commercial banks were already engaging in many of the more aggressive activities of investment banks; and investment banks, along with hedge funds, private equity firms, and other institutions, as we have seen, were making the loans once the province of commercial banks through purchases and packaging of mortgage-backed obligations.

    Not only are Obamunists subsidizing bad decisions as if Obama’s mainlining and tweaking on A-Rod steroids or crack or crank, but the Obama team still has not announced a fix for the broken financial system. (The plagiarized passages are from late January.)

    Obama announced that Turbo Tax Geithner would announce a miracle cure, and then Geithner mumbled and stumbled. Today’s about the first good Dow day we’ve seen since our saviors rode into Washington on their asses.

  12. 12

    Pooper? That’s Mr. Scott St. Clair, to you, dickwad.

    When will you chumps get a brain, get a clue, and confess that, of the entire teeming HA sewer, Mr. Piper was the only playa who had a plan for making HA useful? He was gonna turn Goldy’s steaming pile into a profit center, pipelist: Mr. St. Clair was using Goldy’s bandwidth to peddle used vinyl. Maybe we should call it bankwidth, and maybe we should send Piper to Geithner’s TurboTax Treasury to straighten things out.

    (Have you hugged your crackpiper today?)

  13. 13

    Stephanie Miller yesterday was trash talking Dori Monson’s radio show. Tomorrow she’ll be trash talking Piper’s radio show. The babe’s ratings must be worse than we thought. (Maybe she can dump BoyToyLavoy and hire Goldy, who’s desperately seeking a gig and who sounds like a boy toy.)

  14. 14

    12 – HNMT.. You are so booooooooooorrriiiiiing…

    The Pooper is well-named. He’s full of right wing bullcrap.

    Like you.

  15. 15

    “Piper’s radio show”

    The Piper has a radio show? That’d certainly be a laugher. The guy’s as dumb as a duck.

  16. 16

    this is the most criminal, (tax cheat geithner), jew contolled (rahm emanuel) adiminstration ever….fuck u

  18. 18

    15 – That’s funny. The Pooper is well qualified to be the latest “quack” on the right wing bullshit scene.

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