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Friday, September 30, 2011

Video Friday

I thought we would have a video day.  It's almost the weekend, so no more reading...

Well, I will have a couple articles.

My dad sent me this the other day.  I might start watching CSPAN is members of Congress continue to bash each other.


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I got this video from the owner of Basil's.  If you haven't eaten there, make it a point to go.  The food is fantastic and reasonably priced.  I like anything that bashes Houston Clownshoes Nutt.


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These next two videos go together.  I'm not sure how much you have seen from Occupy Wall Street, but google it.  It's the first protest I've seen in NYC last for an extended period.  The first video shows the 0.1% drinking their champagne while mocking the protesters.  The second is illegal police brutality, plain and simple.

 


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It is really becoming easy for countries to just print, print, print.  I can't believe that amount of cash that is flocking to treasuries.

IMF Scrambles To Double Bail Out Capacity To $1.3 Trillion, May Issue Bonds

The scariest news out of the IMF overnight is not that the scandalized bailout agency telegraphed that the global sovereign debt crisis is about to get into even higher gear after the Dow Jones reported it is "exploring" ways to double its gross lending power to $1.3 trillion (which means that in addition to the EFSF's proposed $3 trillion expansion, global bailout capacity will soon hit $5 trillion), nor is it that the US middle class will soon be on the hook for tens of billions more in real European-facing exposure (over an above the hundreds of billions in USD FX swaps that the Chairman is about to unleash on the world), but that the IMF is in fact considering issuing its own bonds. The reason why this is disturbing to the G-7/8/20 is that such a move would take the SDR one step closer to being an alternative gold-backed reserve currency, an dilute the hegemony of the Western axis much to the delight of Russia and China (which however may be having problems of their own). Well, that's bad, but we take it back - just as bad is that the IMF is about to have $1.3 trillion in bailout power. And yes, they wouldn't scramble to get it if they didn't need it. What next: unlimited rescue capacity, and unlimited exposure for US taxpayers?

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Americans are soft according to Obama.  Maybe that competitive edge would be there if we didn't have a thousand laws hampering business.



 

 

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