QOTD

Bill: "Jeez. Nice blue weener."
Moz: "I've seen better."
- whispered conversation during the "Watchmen" movie

1. No good guys
Obviously, AIG ain't full of "good guys", and handing out mega-bonuses like candy on the government's dole, ain't good either. But the real exercise of power and abuse is:

1. The Congress threatening a 90% retro-tax, and
   
2. NY state Attorney General Andrew Cuomo threatening to publish names of AIG employees receiving bonuses.
3. President Obama whipping the whole thing into a frenzy.
   

QOTD2

"Mr. Cuomo is a thug, but at least he reminds us: It can happen here."
- Holman W. Jenkins, Jr from The Real AIG Disgrace

2. The root... not the symptom
The root of the problem... the true power and abuse comes from dollars. You control the spending of dollars... now, that's real power. There is no greater abusive body that the US government. Here are two links for you:

• Historical Tables - Budget of the United States Government Fiscal Year 2009 -the official dealie for the budget... the historical tables are on like page 21-22.
  
• Federal Budget Receipts and Outlays - This is a nicer summary of spending by the feds, that uses the historical tables as a source, I think.

BTW, here's a cool Compound Annual Growth Rate (CAGR) calculator:

How fast has federal spending grown? Here's a quick calculation:

• In 1962, I was born and it was the first year with over $100 billion spending.
• Let's peg the 2010 budget is approximately $4 trillion.
  
• Using my handy calculator, $100B to $4,000B in 48 years = 8% CAGR
  

At 8% growth per year, the feds spending doubles every 9 years.
The 8% growth rate of fed spending dwarfs the US economy which grows at something like 2-3% per year.

There you have it the core. The root. Not the symptom.
The growth in federal spending has dwarfed anything else in our economy for my lifetime.
And so it will continue with the Obama administration.
Ditto for or our new dolt governor in Illinois and his 50% income tax hike.

3. Judy Biggert is a liar
I saw my congress-girl Judy Biggert stumbling and stammering on the tube yesterday. She asked Geithner how many people are working in the Treasury. Incompetent.
Have you ever seen Judy Biggert and the Gorgon (aka Melvin Belli) from the original Star Trek in the same place at the same time?

...

Judy Biggert is a liar. She ran on term limits during the Newt years in the 90's. She lied and has been in "public service" and suckling at the public teat ever since.

Every 2 years my favorite vote is "anyone but Judy Biggert". That's entertainment!
big blue weeners... yow, bill

PS - Speaking of old Star Trak, I'll take green women over blue weeners, thank you.

Labels: investing, politics, qotd