Monday, June 21, 2010

Government Regulation of Bank credit practices

Okay I'm selfish, but so are the guys who wanted credit reform. They want the banks to stop penalizing them for their irresponsibility with credit cards.

First of all this political motivated reform is all crap. Why? you ask. Well folks the banks have to make x amount of money to stay in business and pay their stock holders. It is going to come from someone.

So the democrats are going to force them to shift the profit, which the banks have to have, from the abusers of the credit system and onto those of us who do not abuse it. It's another one of those, "We will treat you like your mother" so vote for us ideas of the Dems.

What it really means is no free checking or savings accounts for those of us who are smart enough to live within our means. Now we get to pay for those who don't. Wait that's what the democratic government run government is famous for.

So still glad you voted democratic.

Thursday, June 17, 2010

Oil in the Gulf of Mexico

BP is screwed. They are in containment mode now. Go along to get along until the oil stops spewing that's when the tough negotiations begin. There will be abuse and misappropriation of the 20Bil no doubt. Frankly there always is. The people who need the help will be the ones short changed. That is my prediction.

In the meantime the Gulf coast is screwed. All this is stop gap measures. It's going to be cleanup, not containment that is in their future. That and endless litigation. Trial lawyers will get rich on this I'm sure.

Every time they turn around in DC they throw more people out of work. Is it going to end with everyone being on the govt payroll somehow. We make nothing except paper money that has nothing to prop it up, and is worth less and less each day.