MAD AS HELL AND...

The National Debt….Just For the Record

With the talk this past week in Washington DC about OUR “Elected Leaders” having to raise the Debt Ceiling of the United States Government AGAIN above the current Debt Ceiling of…

$16.394 Trillion Dollars

…..and that the National Debt has increased over the past 14 months by….

$1.526 Trillion Dollars

…..which means that the Per American Household Debt increase over those same past 14 months has been a stunning ($12,984 – Increase in Debt Per Household Since First 2011 Bipartisan Spending Deal, CNS News)….

$12,984!

…we are just like the Speaker of the House John shocked that ANY President of the United States would allow this kind of Out-Of-Control Debt and Deficit Spending to go on assuming that he gave a Damn about the future of the American Republic and the future of his own children that is:

Boehner: Obama wanting debt limit hike with no cuts “almost took my breath away”, Daily Caller

We have to agree with Speaker Boehner on this one because ANY “Leader” of the American Republic in either political party that would allow the kind of debt that has been piled up in the past decade to continue on unabated into the future has either lost his mind, doesn’t give a Damn about the future of America or actually wants the American Republic to be destroyed.

Just for the Record on the National Debt for OUR last Three Presidents of the United States (From The Debt to the Penny and Who Holds It Website):

When Bill Clinton took office in January 1993 the National Debt was…

$4.187 Trillion Dollars

When Bill Clinton left office in January 2001 the National Debt was…

$5.735 Trillion Dollars

So the National Debt under Bill Clinton increased by….

$1.188 Trillion Dollars

….over EIGHT years as President.

When George W. Bush took office in January 2001 the National Debt was…

$5.735 Trillion Dollars

When George W. Bush left office in January 2009 the National Debt was…

$10.627 Trillion Dollars

So the National Debt under George W. Bush increased by…

$5.252 Trillion Dollars

….over EIGHT years at President.

(Yes, George W. Bush should be ashamed that the National Debt increased by over $5 Trillion Dollars during his Presidency, but then anyone that has met “W” knows he could care less about anything but his own Precious Trust Fund Boy, Draft Dodging while supporting the Vietnam War and getting American into Stupid Trillion Dollar Wars in the Middle East Ass. No, we do not wonder how George W. Bush sleeps at night because people with no conscience that don’t care about anything but themselves often sleep Very Damn Well!)

When Barack Obama took office in January 2009 the National Debt was…

$10.627 Trillion Dollars

On May 17, 2012 the National Debt is…

$15.713 Trillion Dollars

So the National Debt under Barack Obama increased by…

$5.086 Trillion Dollars

…over almost 3.5 years or 41 months as President.

National Debt Increases under Clinton, W. Bush and Obama:

Bill Clinton (8 Years):  $1.188 Trillion Dollars

George W. Bush (8 Years):  $5.252 Trillion Dollars

Barack Obama (3.5 Years):  $5.086 Trillion Dollars

Without some gimmicks and moving money around from government pension funds the US Government will hit the current National Debt Limit of…

$16.394 Trillion Dollars

…before the end of 2012 which means that in FOUR years as President of the United States Barack Obama will have presided over a US Government that will have added…

$5.770 Trillion Dollars in Debt

Wow….that is just a stunning amount of debt in only FOUR years….just stunning.

Of course, the National Debt is only the tip of the iceberg of the story though because according to the….

US Debt Clock

….as of May 19, 2012 the United States Government has an Unfunded Liability on the programs of Social Security, Prescription Drugs and Medicare of…

$118.926 Trillion Dollars!

Yes, that is ONE HUNDRED AND EIGHTEEN TRILLION DOLLARS PLUS!

When Speaker Boehner said last week at the Peter G. Peterson Foundation conference in Washington DC that he was going to demand that spending cuts be part of an extension of the Ceiling on the National Debt BusinessWeek titled a column that read…

What Game Is John Boehner Playing?, Brendan Greeley, BusinessWeek

….to which we as American citizens that have served the American Republic in peacetime and war can only respond to by writing….

Speaker Boehner is only speaking the TRUTH that someone….anyone in Washington DC has to stand-up and say….

ENOUGH

..…with this out-of-control deficit spending and if indeed President Obama could care less about the Debt and Deficits that only a few years ago he promised while campaigning for President that he would “half” if he were elected then the TRUTH is very simple:

Barack Obama could care less that the American Republic is bankrupted and thus he could care less that over $5 Trillion Dollars in new debt has been added to the National Debt in LESS THAN four years on the job.

Yes, the American People are coming to take back THEIR country and we could frankly care less if it is responsible Republicans, Democrats or anyone else that wants to step forward to move America off of its current Path of Disaster which is being driven by OUR “Elected Leaders” that care more about getting re-elected and holding power than they care about the country and even the futures of their own children and grandchildren because NO ONE that gave a Damn about America and their own children and grandchildren would allow this kind of Bullshit to continue….and yet it continues…..and as usual during most of the past 25 years the American “media” are asleep at the switch and frankly could care the Hell less because the TRUTH is most of the American media including almost everyone you see on TV each day in the news business is in bed with someone in Washington DC and they too would take down the American Republic to defend “their people” and those are the exact conditions that equals the end of a Great Power and if anyone out there is excited about America failing while the FASCISTS now running Russia and China are on the rise then there are some Very Damn Stupid People in the world and we are talking about Stupider than the Morons that have cost JPMorgan Chase Billions of Dollars while doing things that only Very Damn Stupid People could have possibly dreamed-up forget about executing in the REAL World.

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Mad As Hell And… Quotes of the Day – Saturday, May 19, 2012 – Thomas Watson

“All the problems of the world could be settled easily if men were only willing to think. The trouble is that men very often resort to all sorts of devices in order not to think, because thinking is such hard work.”

And

“Don’t make friends who are comfortable to be with. Make friends who will force you to lever yourself up.”

And

“Every time we’ve moved ahead in IBM, it was because someone was willing to take a chance, put his head on the block, and try something new.”

And

“If you stand up and be counted, from time to time you may get yourself knocked down. But remember this: A man flattened by an opponent can get up again. A man flattened by conformity stays down for good”.

And

“If you want to achieve excellence, you can get there today. As of this second, quit doing less-than-excellent work.”

And

“Nothing so conclusively proves a man’s ability to lead others as what he does from day to day to lead himself.”

And

“Once an organization loses its spirit of pioneering and rests on its early work, its progress stops.”

And

“Really big people are, above everything else, courteous, considerate and generous – not just to some people in some circumstances – but to everyone all the time.”

And

“The great accomplishments of man have resulted from the transmission of ideas and enthusiasm.”

And

“The toughest thing about the power of trust is that it’s very difficult to build and very easy to destroy. The essence of trust building is to emphasize the similarities between you and the customer.”

And

“The way to succeed is to double your failure rate.”

And

“Whenever an individual or a business decides that success has been attained, progress stops.”

And

“Wisdom is the power to put our time and our knowledge to the proper use.”

And

“You don’t hear things that are bad about your company unless you ask. It is easy to hear good tidings, but you have to scratch to get the bad news.”

And

“THINK”

Wikipedia:  Thomas Watson

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Oh, here is another NON-SURPRISE from the Broken State of California!

Caught on Tape: State Workers Drinking Beer While Earning Your Taxpayer Money, CBS 2 News Los Angeles

Yes, these Wacko Liberal Nuts destroying the State of California need MORE of the People of California’s hard-earned money…..

NOT!

AND

NOT A CHANCE IN HELL!

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As we finalize our plans to attend the United States Open Golf Tournament in June in San Francisco which will kick-in some money to the beleaguered Broken State of California we continue to see stories like this one out of Sacramento:

California deficit likely higher than Jerry Brown’s estimate, Keith Yamamura, Sacramento Bee

“California’s budget deficit is likely worse than Gov. Jerry Brown’s estimate of $15.7 billion, the state’s top fiscal analyst indicated Friday.

Brown proposed a $91.4 billion general fund budget Monday that slashes health and welfare programs, courts and state worker pay. His proposal also relies on voters temporarily raising taxes on sales and wealthy earners to help cover this year’s budget gap and deficits in future years.

The nonpartisan Legislative Analyst’s Office said Friday that Brown’s revenue forecast is “reasonable,” though the Analyst’s own projection is still $550 million below the governor’s through June 2013. On top of that, the LAO warned that Brown’s estimate of money available from former redevelopment programs could be overstated by $900 million.

Based on those initial judgments, the Analyst’s Office seems to suggest the state deficit is north of $17 billion rather than $15.7 billion, which was Brown’s estimate.”

NO, that the Deficit is Bigger than reported by Governor Jerry Brown who we consider to be a First-Class LIAR and a Pompous Arrogant Ass is NO BIG SURPRISE to anyone that has been paying attention to the War on the People and Business of California that has been waged by Wacko Liberal Environmental Nuts like the Jerry Browns of the world in the now Broken State of California because the TRUTH is what is being reported by the lapdog media in California is only the tip of the iceberg of the “worse than Greece” situation that the Broken State is now in and when the full TRUTH is known…..and the TRUTH will be known….there will be a fundamental chance to reshape California politics for the next couple of decades and that reshaping will begin with the DEFEAT of Jerry Brown’s BIG Tax increase on the People of California in this Fall’s general election!

Memo to Jerry Brown and Molly Munger (Molly Munger is the other Trust Fund Kid along with Trust Fund Boy Jerry Brown that is trying to stick the People of California with a BIG Tax Increase this Fall and columnist Steve Lopez of the LA Times wrote about Munger’s BIG Tax Proposal this week, Ready to blaze a trail for tax hike, LA Times): BOTH of your BIG Tax Proposals are GOING DOWN TO DEFEAT just like Prop 1A got DEFEATED BIG-TIME in 2010….

Yes, Jerry Brown and Molly Munger….your BIG Tax Increases on the People of California are GOING DOWN as they should since the Very Damn Last Thing the government in California needs is more of the People’s money and anyways…..ALL this new tax money isn’t going to the schools (Well, Munger’s taxes might go to the schools but we believe the state will steal that money as well so it must be defeated as well!), but rather that new tax money will be going to….

New California Taxes Pay for Pensions, Not Schools, David Crane, Bloomberg

“Most Californians would be surprised to learn that 100 percent of education’s share of the tax increase proposed by Governor Jerry Brown will go to pensions instead of classrooms. But that would be no surprise to longtime observers of the California State Teachers’ Retirement System, which administers teacher pensions.

Here’s why: After retirement, teachers are unconditionally guaranteed lifetime pensions by their school districts. Everything works out fine if Calstrs, as the retirement system is known, earns the investment returns it forecasts and from which upfront contributions are derived.

But if they fall short, school districts must make up the difference. Because of compounding, the failure to earn forecasted earnings translates into huge deficiencies down the road.

Unfortunately, “down the road” is where school districts are now. Because Calstrs has earned only 60 percent of its forecasted investment return since 1999, it needs school districts to boost contributions by more than $100 billion. Worse, Calstrs waited so long to seek more contributions that its request is now for an extra $4.5 billion a year, almost double the $5 billion a year it already receives in contributions.”

That is OUTRAGEOUS!

Yes, prepare for a DEFEAT at the polls this fall Jerry Brown and that means MORE CUTS to the California state government and we mean REAL CUTS this time not the Bogus Cuts based upon the Bubble California State Budget from a few years ago that was a Complete Fantasyland based upon a Bogus Real Estate Bubble in California!

A couple of more stories that Tell the Tale of the Destruction that is now being brought on the People and Businesses in California by the Wacko Liberal Environmental Nuts in the Broken State:

CalPERS ignores Brown, delays pension payment, Calpensions.com

“The CalPERS board yesterday raised the annual state payment for state worker pensions $213 million to a total of $3.7 billion, rejecting Gov. Brown’s request for a bigger increase to avoid a “loan” costing “$145.9 million over the next 20 years.”

Unions asked the board to spread out higher pension costs mainly caused by a lower investment earnings forecast. Paying part of the new rate over two decades, instead of the full amount now, makes an extra $149 million available for worker pay and other programs next fiscal year.”

Did you catch that about how much the People of California are sending to CalPERS the California Pension Fund which handles the retirement accounts for California Government Employees:

The Broken State of California will have to increase its contribution to CalPERS this year by $213 million to a total of $3.7 BILLION DOLLARS which follows the $30 Plus BILLION DOLLARS that the People of California have put into CalPERS over the last decade since the Biggest Moron elected in American history, former California Governor Gray Davis, jacked-up the pensions for government employees in the state where they can now retire at 55 to 60 often making more than were making while working full-time!

Of course, Gray Davis and the Morons running CalPERS….along with the Idiots in the California legislature “promised” that investment returns would pay for those increased pensions and now over a decade later the People of California are kicking in almost $4 Billion Dollars a year into CalPERS which is run by Morons that lost more than 8 Percent on their equity investments in 2011 when if ONE MONKEY….

….had just pressed a button on a computer buying the S&P 500 he would have make almost THREE TIMES what the Morons being paid Millions of Dollars at CalPERS made on their stupid investment decisions!

Meanwhile while many states that are NOT Waging an All-Out and Direct Attack on their People and Businesses are seeing a recovery in their economies we see that California lost 4,200 jobs in April!

California unemployment rate dips to 10.9%; state loses 4,200 jobs, Los Angeles Times

Oh, Jerry “Moonbeam” Brown…..Just wait until you see the number of companies that are now in the stages of moving their ENTIRE operations out of California with the possibility of more tax increases and the Bogus Economy Destroying Cap & Trade Plan coming on line next year in the Broken State which will raise energy prices on the People and Businesses in California….AGAIN!

Just wait Jerry…..just wait…..One day historians will look back at today as the “good times” in the history of California because the Complete Meltdown of the state hasn’t even started yet!

Yes, it is always fun to see Wacko Liberal Nuts crying about their Fantasyland Dreams coming crashing down while they are of course living High on the Hog which no doubt will be happening this Summer when we are in San Francisco at the US Open and as always when we dine out in SF we will see lots of California politicians living the good life while the “common folks and businesses” they are Waging their All-Out War on will be suffering!

We will be reporting from the Front of the Wacko Liberal Environmental Nuts destroying the Broken State of California this coming June and it promises to be Mighty Damn Fun!

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We have at least a couple of dozen people here at Mad As Hell And… that have owned JPMorgan/Morgan Guaranty and Chase Manhattan stock going back to the 1980s so we have been shareholders in the current JPMorgan Chase bank in some form or the other for over two decades now and when we log into our Wall Street Journal accounts early in the morning and read stories like this one….

Inside J.P. Morgan’s Blunder, Monica Langley, Wall Street Journal

….which is very well detailed in this Business Insider story by Sam Ro…

BOMBSHELL REPORT: Jamie Dimon Personally Approved The Concept Of The Disastrous Trade, Losses Could Total $5 Billion

….we get….

REALLY PISSED OFF!

Another thing that has PISSED US OFF in recent days are all of these apologists for Wall Street from overeducated Ivy League professors, to Rush Limbaugh, to Mitt Romney, to Barack Obama, etc… that have go on TV in the last week and talked about how great JPMorgan Chase CEO Jamie Dimon is and that for a bank making Billions of Dollars a year in profit that losing 2, 3, 4 maybe 5 Billion Dollars and still counting as the above story Wall Street Journal story details is just fine with them, but in the REAL World where the American People live this is beyond…

OUTRAGEOUS

….and Very Damn Insulting to the American People!

Memo to the Moron Lackey Defenders of Wall Street: Any Random Moron including this fellow….

…..could make Billions of Dollars a year borrowing money at ZERO from the Federal Reserve and just investing those Billions of Dollars in 100 percent safe securities which is nothing more than a FREE subsidy from the American People to the Candy Ass Pussies on Wall Street that couldn’t turn Dollar One of Profit if the Federal Reserve and US Government weren’t propping their Candy Asses up around the clock every day of the Damn year!

What a lot of Americans do not understand and they don’t understand it because the US Government and Wall Street LIE to the American People all of the Damn time is that in 2008 when the US Financial System was melting down it WAS NOT the millions of mortgages that began to underperform, become delinquent and head towards foreclosure as Real Estate prices began to fall that almost brought down the American Republic because a few Hundred Billion Dollars of bad mortgages would have only been a small hiccup for OUR country.

What almost brought down the American Republic was the Bailout Kings and Queens otherwise known as the Candy Ass Pussies on Wall Street that had levered up those few Hundred Billions of Dollars of mortgages into…

TRILLIONS OF DOLLARS

…of what was nothing more than GAMBLING by the Wall Street Banks which were supposed to be FDIC insured and backed-up by the Federal Reserve but amazingly NO ONE in Washington DC had a Damn clue what the Candy Ass Pussies and Bailout Kings and Queens on Wall Street were up to with the TRILLIONS OF DOLLARS of bets on Real Estate in America…..until it was too Damn late and of course that is when the Candy Ass Pussies on Wall Street came crawling to the American People to get their Sorry Asses Bailed Out and Surprise, Surprise the Wall Street Bastards were doing the same Damn thing in the 2000s that JPMorgan Chase was doing in these Very Stupid and Very High Risk BETS….and that is what they are….just BETS and GAMBLING being done by overeducated Ivy League Morons that would be hiding out in Canada in America every got into a real shooting war again because take it from people that have worked with these Morons on Wall Street…

They are the BIGGEST Cowards alive on Planet Earth today.

The TRUTH is that because we have….

Candy Ass Pussies in Washington DC

….supposedly regulating the….

Candy Ass Pussies on Wall Street that wouldn’t know REAL Capitalism if it hit them in the Ass since Wall Street has been bailed out 6 times since 1986

….the Candy Ass Pussies on Wall Street are under the impression they can do whatever the Hell they please and if they make a lot of money they get to keep it and if they lose a lot of money they will do what….

Candy Ass Pussies DO

…and come crawling back to the American People for another bailout….BUT….what the Candy Ass Pussies don’t understand is that….

THERE WILL BE NO MORE BAILOUTS!

Well, that’s not quite right because Uncle Ben Bernanke is as we are writing this blog running a Multi-Billion Dollar Bailout of Wall Street right Damn now with his Bogus Operation Twist which is nothing more than a way to funnel more money to the Wall Street Bastards so they can buy up US Treasury Debt and then the Fed can buy it back in what is the Biggest Ponzi Scheme in the history of Man and Woman on Planet Earth which the Chinese are participating in since the Chinese know if they keep buying US Treasury debt then the “Leaders” of American Republic which was founded upon the….

Declaration of Independence

AND

US Constitution

….will look the other way when the Chinese beat the Hell and Torture their own Damn citizens….

China activist Chen’s relatives describe beatings, BBC News

…..only weeks after the Secretaries of State and Treasury of the United States of America were in Beijing kissing the Asses of the FASCISTS in China which are no better this Sorry Piece of Crapola from the last century….

… but then Hitler wasn’t smart enough to buy US Treasury Debt or he to might have been able to get away with his atrocities against some of the German people!

Getting back to JPMorgan Chase and Jamie Dimon….

$5 Billion Dollars GONE for a hedging operation?

Yes, only a Very Damn Stupid person and we are talking Very, Very, Very, Very Damn Stupid could have pulled that off, but then as Jonathan Weil of Bloomberg points out in his latest….

How JPMorgan Is Like Enron, Bloomberg

….it was only a couple of months ago that JPMorgan was reporting that the MOST it could lose would be “$129 million” on its trading positions and now the Real Men and Women of Genius at JPMorgan Chase are looking at a….

$5 Billion Dollar Loss?

Oh, don’t worry…the Federal Reserve will give the Candy Ass Pussies at JPMorgan Billions MORE Dollars of FREE Money and they will turn around and buy US Treasuries and other US Government securities with the FREE Money and the American People will send Billions of Dollars of interest to the Candy Ass Pussies at JPMorgan Chase so they can then say to the world they are making BILLIONS OF DOLLARS in profit when the TRUTH is the Stupidest Person you have ever known could make BILLIONS OF DOLLARS IN PROFIT by borrowing money from the Fed at ZERO and buying US Treasuries and US Government securities that are paying 4 to 6 times what the money is being borrowed for!

Please, someone needs to just start telling the Damn TRUTH and the TRUTH is the American People are getting massively Ripped-Off by Wall Street and Wall Street is then turning around and using the FREE Money we are giving them to gamble and make bets on all kinds of Crapola like these stupid hedges JPMorgan was running and then the Candy Ass Pussies on Wall Street wonder why the American People have been pulling out Billions of Dollars out of the stock market every month for several years now and will continue to do so into the future?

Hell, why would anyone with an IQ over room temperature trust people that can’t even run a simple hedging operation that any Random Moron passing through Washington Square in the middle of the Damn night could handle working 10 minutes day?

They wouldn’t is the answer to that question!

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