SOTD: DJ T-Rock & Squashy Nice - Pretty Girl with A Crooked Smile

SOTD: Payolas - Eyes of a Stranger

SOTD: The Loft - Flaming Lips

Almost Seven Years After 9/11, and Still No Plan to Get The Guys Who Did It

From the United States Government Accountability Office Report dated April 2008

"Since 2002, destroying the terrorist threat and closing the terrorist safe haven have been key national security goals. The United States has provided Pakistan, a key ally in the war on terror, more than $10.5 billion for military, economic, and development activities. Pakistan's Federally Administered Tribal Areas (FATA), which border Afghanistan, are vast unpoliced regions attractive to extremists and terrorists seeking a safe haven. GAO was asked to assess (1) the progress in meeting these national security goals for Pakistan's FATA, and (2) the status of U.S. efforts to develop a comprehensive plan for the FATA. To address these objectives, GAO compared national security goals against assessments conducted by U.S. agencies and reviewed available plans.

The United States has not met its national security goals to destroy terrorist threats and close the safe haven in Pakistan's FATA. Since 2002, the United States relied principally on the Pakistan military to address U.S. national security goals. Of the approximately $5.8 billion the United States provided for efforts in the FATA and border region from 2002 through 2007, about 96 percent reimbursed Pakistan for military operations there.

According to the Department of State, Pakistan deployed 120,000 military and paramilitary forces in the FATA and helped kill and capture hundreds of suspected al Qaeda operatives; these efforts cost the lives of approximately 1,400 members of Pakistan's security forces. However, GAO found broad agreement, as documented in the National Intelligence Estimate, State, and embassy documents, as well as Defense officials in Pakistan, that al Qaeda had regenerated its ability to attack the United States and had succeeded in establishing a safe haven in Pakistan's FATA.

No comprehensive plan for meeting U.S. national security goals in the FATA has been developed, as stipulated by the National Strategy for Combating Terrorism (2003), called for by an independent commission (2004), and mandated by congressional legislation (2007). Furthermore, Congress created the National Counterterrorism Center (NCTC) in 2004 specifically to develop comprehensive plans to combat terrorism. However, neither the National Security Council (NSC), NCTC, nor other executive branch departments have developed a comprehensive plan that includes all elements of national power--diplomatic, military, intelligence, development assistance, economic, and law enforcement support--called for by the various national security strategies and Congress.

As a result, since 2002, the U.S. embassy in Pakistan has had no Washington-supported, comprehensive plan to combat terrorism and close the terrorist safe haven in the FATA. "

Clearly, anyone who still says Bush and the Republicans are good on national security is either a fool or a liar.

McCain = A Third Term For Bush

New home sales in March 2008 were the lowest since 1991; months of supply was the highest since 1981.

Here's a chart of gas prices over the past six years (fyi gas prices have tripled since Bush took office).

Number of American military dead in Iraq since Bush announced "Mission Accomplished": over 3900

Decline in value of US Dollar since Bush took office: about 35%

California home prices down 22.48% in March 2008.

Rice prices up from $4 to around $20 per bushel.

We can't afford McCain.

SOTD: Aimee Mann - Save Me

Why Does Jim Cramer Still Have A Job?

Jim Cramer on September 7, 2007, recommending Downey Savings & Loan...

"I am saying right here, right now that Washington Mutual would be idiots if they did not pay $100 next week for Downey Savings and Loan."

Downey Savings (DSL) closed at $54.68 on September 7, 2007. It closed yesterday at $13.83.

Boo-ya!

SOTD: Bush - Straight No Chaser

SOTD: Coco & Puttnam Feat. Cathy Battistessa - Starlight

SOTD: Alice in Chains - Junkhead (live)

SOTD: Elisa - Rainbow

Bad Money

Steve Inskeep talks to author Kevin Phillips about his new book, Bad Money. Phillips argues in the book that the U.S. economy is in danger because of its reliance on the financial industry. He also believes that Wall Street has steered the nation toward greater debt.

Paul vs. Petraeus

SOTD: Death Cab for Cutie - I Will Possess Your Heart

Just in Time for The November Election...

War with Iran! That should give McCain a boost as he hopes to serve George W. Bush's third term...

Courtesy of Congress, Bush thus has a blank check for war on Iran. And the signs are growing that he intends to fill it in and cash it.

Thanks Congressional Democrats! Your impotence is impressive.

For Anyone on Commission, It's Always A Good Time To Buy or Sell

Are You Smarter Than A Secretary of the Treasury?

It's now been a year and a half since I wrote on this blog, among other things, "The housing bubble will make the Nasdaq bubble look quaint."

Geniuses (and by "Geniuses", I mean "Idiots") like Alan Greenspan, Ben Bernanke, Hank Paulson and George W. Cheney-Bush now act as if no one could've possibly forseen this crisis.

That's complete b.s. They engineered it, allowed it to happen, profited from it, and the same clowns who brought you this looming recession/depression, $4 gas, the repulsive Iraq Civil War..the same idiots who left thousands to die in New Orleans, the ones who have bankrupted this nation...the same traitors who enrich private contractors while 18-year-old US soldiers die defending some Mosque on the other side of the world..the same scum that have allowed Bin Laden to hide in Pakistan all these years while they shredded the US Constitution here at home...these same guys are gonna fix things? Sure, and the Iraq War is going to pay for itself and we'll be greeted as liberators.

How can the average person understand what's really happening?

If you want to know what's really going on from an economic standpoint, check out the following:

Calculated Risk
Mish's Global Economic Trend Analysis
The Market Ticker
Sudden Debt
Housing Panic

Spend a small amount of time each day reading those, and you'll be far more informed and prepared than any CNBC anchor, US Treasury Secretary, stock broker, realtor or US President.

Maybe Bush IS Kinda Like Reagan...

I mean, Ronnie was President the last time things were this bad...the difference is that Reagan came in when things were already bad...George W. came in when things were pretty good and proceeded to screw this country for the benefit of a few cronies. Nice.

April 11 (Bloomberg) -- Confidence among U.S. consumers sank to a 26-year low in April as the labor market continued to deteriorate and gasoline prices rose. The Reuters/University of Michigan preliminary index of consumer sentiment decreased to 63.2 from 69.5 in March. The reading was below the lowest forecast in a Bloomberg News survey and the weakest since March 1982.

Bush Has Actually Succeeded At Something!

Yep, he's presided over a huge and growing gap between the rich and poor in this country.

Since the late 1990's average incomes have declined 2.5 percent for families on the bottom fifth of the country's economic ladder, while incomes have increased 9.1 percent for families on the top fifth...

Heckuva job, Shrub!

SOTD: Fischerspooner - The 15th

Properly Chilled

SOTD: Bent - Private Road

SOTD: Tricky - Pumpkin

Steven Colbert: Rat Rakes

SOTD: Alice In Chains - Got Me Wrong

Lehman Brothers' Loan Quality

..or lack thereof...

Socialism for the Rich

A letter from Treasury Secretary Hank Paulson to the President of the Federal Reserve Bank of New York, Timothy Geithner, states the following regarding the Bear Stearns bailout:

"The Federal Reserve Bank of New York ("FRBNY") has arranged a special credit facility with J.P. Morgan Chase Bank ("JPMCB") to assist with the acquisition of The Bear Stearns Companies. On behalf of the Department of the Treasury, I support this action as appropriate and in the government's interest, and acknowledge that if any loss arises out of the special facility extended by the FRBNY to JPMCB, the loss will be treated by the FRBNY as an expense that may reduce the net earnings transferred by the FRBNY to the Treasury general fund."

In other words, the U.S. Taxpayer is explicitly guaranteeing the J.P. Morgan purchase of Bear Stearns. If it works out, J.P. Morgan's top execs make millions, and if it doesn't, the taxpayer foots the bill.

This is stunning, and has to be illegal. Hopefully, some member of Congress has the guts to put these guys in jail where they belong.

Everyone needs to sign this petition now.

SOTD: Rolling Stones - Waiting On A Friend (1981)