Merry Christmas .... Ya Worthless Slobs

Most people have heard about the debacle caused by the slobs at Chiquita Bananas ..... all that  boycot Canadian Oil stuff .... Well here's what that got them .... !

Of course you may not remember that OMMAG once was a fan of the banana bozos ... Once Upon a Time !

Well it seems like they've learned absolutely nothing from that experience.....


OMMAG

Our Happy Socialist Paradise - According to Dan Lett

The Sausage Factory himself.... and writer for the Winnipeg Free Press:

"The public sector is the major driving force in the economy of most provinces."

I heard this today while driving home from work with the radio tuned to The Great Canadian Talk Show. The heart of a socialist tool laid bare in one simple statement.

Lett was on with the host Marty Gold ... his pseudonymous self ... making as nice as can be with the frequent target of his many emotional outbursts about the feeble effort of the Freep and it's writers to produce a worthwhile product.

Responding to questions concerning the state of Manitoba's economy and the performance of the NDP in managing the same... Sausage boy was busy spinning madly to convince the audience that things are not so bad ... after all what's $490 billion when you've got the magic money tree to go to?

Actually he had me sucked in for a moment or two when he (Lett) acknowledged to some degree the fact that someone who voted for Greg Selinger on the basis of his "Balanced" budgets might lack some understanding of the reality behind those budgets.

BUT ... then ... of course he went back to an apologetic tone about how certain months are tougher and leaner for the government because ... Now Here It Comes!!! ... Hydro Revenues are down. Of course this affects the appearance of fiscal mismanagement as being worse after April.

According to .... Sausage boy... it's the "Appearance" of fiscal mismanagement the "Idea" of incompetence!

Sure thing Meat!

Now let us get a couple FEW of things straight shall we?

First - We live and function in a Capitalist society where the markets are Supposed to be allowed to work. Like it or not ... this is the fact of our nation and our economic foundation. Capitalism and market competition are not theories to be debated but are the way things work.

Second - Any interference by government in the economy undermines the ability of that market and economy to function. This is true whether or not the intention of the interference is to create a greater good or to rectify some perceived imbalance.

Third - The One and Only way any government can obtain financial resources is to take money out of the economy. It does not matter whether they do this by borrowing, which devalues the currency and places an ongoing economic burden on the entire public. Nor does it matter if done through taxation. The result is detrimental to the economy and therefore to the wellbeing of the public.

Fourth - It does not matter if it is done by rifling the bank accounts of public corporations such as Manitoba Hydro which is simply a theft of the assets that rightfully belong to the stake holders ( that would be every single resident of Manitoba) as well as to force those citizens who use Hydro to pay greater costs in compensation for the loss of assets and revenue at the Crown corporation. The result is detrimental to the economy and therefore to the wellbeing of the public.

Fifth - No matter how much money a government redistributes it cannot claim to be "Driving " the economy. This is because the wealth has been taken FROM the economy in the first place and because there is no possible way to do this without wasting resources. The result is detrimental to the economy and therefore to the wellbeing of the public.

Sixth - Because of the 5 factual reasons stated above any government that has become the largest economic influence in the economy under their jurisdiction has done more harm than good. The result is detrimental to the economy and therefore to the wellbeing of the public.

And that ... Sausage boy is why economic ignoramuses like yourself and your NDP friends should never, ever be left in charge of a piggy bank let alone a public trust. It is the reason why socialist governments always ... every time... without exception end up broke and in debt.

It is also the definition of incompetence.

There no excuse for this depth of ignorance.

Unfortunately it is the norm for lefticles in government and sycophants in the public and the media to remain willfully and happily immersed in the belief that they can and will get different results if they just keep doing the same things over and over.

And THAT is a working definition of deranged.

Unless of course their intention is to undermine the economy and impoverish the public.

That would be a working definition of traitorous!


The result is detrimental to the economy and therefore to the wellbeing of the public.



OMMAG

And Speaking of Economics For Dummies

With a hat tip to Small Dead Animals and tipster Kevin B.


Friday afternoon The US FDIC (Federal Deposit Insurance Corp) a government agency that is supposed to be responsible for helping to insure that small depositors can feel safe about their money in US banks. Banks pay a fee (insurance premium) so the FDIC has a fund to supply up to a fixed amount. The current rules allow for $100,000 per account and for retirement savings (IRAs) $250,000.

Just to provide a little bit of history on the FDIC .... they are broke. They do not have the funds to cover their current obligations and have been over extended since mid year (2009).

But to listen to FDIC Chairman Shiela C. Bair tell it, they have a magic money tree to go to.

Now in case this sounds reasonable to you let's just back up and take a broader look at the situation.

There has never been a case of any government being able to print money without the consequence of devaluing the currency. Neither can any government, person or business borrow it's way out of debt.

Not ever not the Phoenicians, not the Egyptians not Rome, not any European nation, not any third world kleptocracy.

The more money a government prints the less it is worth. Period.

Now what this tool Shiela C. Bair is telling us is that she has a magic way of protecting people's money while borrowing and while forcing the very banks that are suffering financial harm to accelerate the process and by forcing government to print money to pay for her plans.

None of these things have ever worked in the past and none ever will.

The consequences of continuing on this path are worthless money (hyper-inflation), unrecoverable debt (bankruptcy) and complete economic failure (catastrophe).

Shiela C. Bair displays a complete ignorance of history and economic reality and yet political masters have placed her in charge of the financial security of millions.

The USA is in a deep and dangerous place ( and the rest of us as well), thanks to those who would allow this to go on.


OMMAG

Candyman..... Candyman...... Cand........agggghhh

Hat Tip to Are We Lumberjacks....
Are we?

“All 50 States are coordinating in this – as we fight back against our own Right-Wing Domestic Terrorists who are subverting the American Democratic Process, whipped to a frenzy by their Fox Propaganda Network ceaselessly re-seizing power for their treacherous leaders.”


Eh?

Ok! So You Can't Stand To See Them Used.....

... The legislation passed with overwhelming support from European parliamentarians and took direct aim at Canada's hunt, calling it "inherently inhumane." ...

In that case we'll just slaughter them because they NEED to be slaughtered.

... ST. JOHN'S, N.L. - The future of the centuries-old commercial seal hunt appears in jeopardy after the European Parliament approved a ban Tuesday on seal products, a move that triggered suggestions that a cull may be needed to manage the herd. ...


And maybe just because we know it will make your heads explode.....

OMMAG

Our Happy Socialist Paradise

Only 7 more days to International Hug a Red Day!

The NDP government is spending $88 million more than it is taking in.

Federal handouts now make up nearly 40% of our provincial government revenues, up from 27% when the NDP took office
Our provincial debt is increasing by 10%, $90 million of scheduled debt repayments are being cancelled.

Our provincial savings account is being depleted by 30% .

For every dollar of new tax cuts in this budget there are 13 dollars of new spending!




Not to mention:

The long standing hatred and contempt of the core NDP for business and capital investment. The anti-business labour laws. The nurse-nanny bureaucratic regimentation. The sick to the core educational system. The inevitable consequences of all this in addition to the criminal friendly justice system. The failed health care system. The entrenched parasitic bureaucracy. The even more thoroughly entrenched victim industry. And the billion or so in project overruns and yet to begin projects that the NDP have pledged your money and your children's money to!

The only thing that keeps this province from having the worst net performance is the fact that there was nothing good happening here before the general external economy tanked. That and the fact that we have a government in Ottawa that is managing to keep a lid on the stupidity.


But the socialists are happy!


OMMAG

From One Extreme to Another

A hat tip to my friend Barry who tipped me to this...................




No surprise that MSNBC Thinks they can blame business schools for all the worlds financial problems.

And surely there are some grains of truth in there about the mercenary zeitgeist of many freshly minted MBAs who think they're going to out hustle the junk bond kings and the corporate cowboys of the 1980's.

But anyone ...... I repeat ANYONE that thinks a Humanities degree is the answer to the questions implied in this piece of wishful thinking by Mathew Stewart... and that includes Mat himself... Is and Ass of Epic proportion.

Even the Subheading to the Title :

"Economic crisis has exposed the myth of business-school expertise"

Is a real piece of poo because it's not the MBAs who created the fiasco of the century.

It's the Politicians who caved in to the social activists in matters of fiscal policy who bear the shame. And just as surely as this is the whole truth ... mark my words! ... These dummies have the supreme joker and a whole court of fools at the helm now.

The Community Organizer in Chief and his cohorts are hell bent on dismantling the most successful economic structure since the days of Rome ..... and The MSM ... Like MSNBC are cheerleading all the way!

You see it's not news that the MBA is an overblown accreditation .... people who actually do business have known this for years. And typical of the MSM ... they are just discovering the fact.

Also, typically they are bent on weaving this bit trivial observation into their on going memes.

So just to repeat what should not need to be repeated ... The MSM as a group, ARE the stupidest most incompetent people on the planet. That or completely devoid of integrity.



OMMAG

The Magic Of Hope!

After all it was just too much to ask that the whole plan be evaluated for risks and consequences before they started handing out $Billions of tax payers dollars.

Details just aren't what juveniles do!

Now just like you'd expect of 10 year old mentalities, they are incapable of focusing on the BIG picture.

Rather than ask where nearly $50 Billion is being spent ........

The Children want to renege on the contracted pay packages that brokers are owed.

You know the fact is that most of these bonuses go to the guys who actually carry the water in the investment and finance business?

So the Great Community Organizer in Chief wants to go after them while ignoring

THIS:

Bailout Benefits

Banks got $22.4 billion in collateral, $27.1 billion in payments from a U.S. entity to retire credit-default swaps and $43.7 billion tied to the securities-lending program, AIG said in a statement.

Goldman Sachs Group Inc. led beneficiaries, with $12.9 billion, followed by Societe Generale SA, France’s No. 3 bank, with $11.9 billion, and Deutsche Bank AG, Germany’s biggest lender, with $11.8 billion. AIG and the Fed had previously refused to reveal the counterparties, saying the contracts were confidential and that the information could damage AIG’s business prospects.

States, including California and Virginia, got $12.1 billion tied to guaranteed investment contracts.

And of course the Prosecutor and Chief Political Grandstander of NY state is looking for easy targets too.

The USA is in the hands of juvenile chiselers and ignoramuses.

God Help Us!

OMMAG

Oh Crap!

Well! What the hell did you expect?
Related ......... Washington's Diaper Pail?

h/t 's to Are We Lumberjacks? and !NoPasaran!
Always inspiring..........

They Should All Be Asking These Questions

Update : Meanwhile What happens to all that loose money when the economy goes on again?

From .... Canadian Press

TORONTO - As several provinces prepare to wade into red ink as the spring budget season approaches, there are new warnings that the cost of borrowing may go up if governments don't show a plan to return to balanced budgets once the economy recovers.

The meaning of this?

Remember the 1980's ? Remember sky high interest rates and spiraling inflation?

It starts with Government Spending and Debt!
Refresher course in Economics 101 :

Governments do not produce wealth. The only wealth that governments have is what they take from the productive population. Every dime a government borrows is a dime that ordinary citizens owe. It's ALL YOUR money.


Oh yes! If they were paying attention .... they'd have listed Manitoba as well.

OMMAG

Underthink Thursday

Where CP relates the news that our Government is going to make cuts to spending .....



As if that is a bad thing!

"Fiscal update predicts recession, offer no stimulus package yet" CP.


OMMAG

It's Never Fair

It never fails!
Give in to one little bastard and there's another on complaining.. "It's Not Fair" !


Right! In the interest of true fairness Don't Give Anything To Any of Them!

OMMAG

Economists Blowing Hard for Hard Times

Of course the Canadian Press is right there to hold the bullhorn for the doomsayers.

I find it increasingly odd that "experts" like some economic analysts at financial institutions are blowing the recession horn so loudly and banging the hard times drum so fervently.


To what end?

Here we see that they are now apparently promoting government deficits. Imagine economists advocating government meddling in the economy! Just the kind that CP would love to trumpet.

Deficit Better Option than Cuts ?

"......The possibility of a deficit may frighten Canadians but it's better to slip into the red briefly now than to face tax hikes and spending cuts later when the economic slump worsens and red ink piles up, economists said Monday. "

Uhum.... let's see now ..... cutting is good when we need to reduce the government drain on the economy except when the economy is not doing so good.

Something along the lines of what Ontario is doing? How's that working out?

WRONG .... cutting government spending is always the right thing to do and I can think of a few places to start right now. Why wait for another bad fiscal quarter?

Kill the HRCs ! Save ?? tens of $millions!

Kill the Gun Registry ! Save Hundreds of $millions!

Kill the CBC ! Save $Billions !

Kill all funding for social, cultural and activist groups! Remember the S.O.W. (CSW) they got their funding back. Kill it for good save Hundreds of $millions.

Make the LPC pay Canadians back the Tens of $millions they stole and while your at it put all the crooks in jail. No money to be saved by jailing them of course but it would make a lot of people feel better. Is it not the Progressive way to make people feel better?

Now I could get behind some deficit planning provided first of all that every last cost cutting measure had been taken and then only as an alternative to adding more taxation into the mix.

If it was strictly my call I'd CUT taxes CUT Spending and let the economy sort itself out.

But that's just me..... and maybe These Guys .....

OMMAG

Swimming In Shallow Water

Canada's Finance Minister Jim Flaherty says:

"The government stands ready to take whatever actions are necessary to protect the stability of the Canadian financial system," ....

"Our banks are solvent, our insurance companies are solvent, we regulate them, we have one of the highest capitalization requirements in the world . . . all of that is solid."

Canada's system will not require the type of multibillion-dollar bailout packages that have been put in place in the United States and some European countries.

The CP Headline: Crisis still threatens Canadian economy: Flaherty

If you believe that the MSM are interested in reporting the facts of our economic situation or are even capable of discerning what those facts are then you probably think that the chicken littles of the LIberal or Dipper sort actually know what they are talking about too.

Did you buy some of Al Gores carbon exchange units? Or were you just waiting for your lottery winnings to arrive? Or perhaps the Nigerian cash you agreed to handle on behalf of that unnamed investor in gold and oil fortunes?

Canadian Press - Wrong about just about everything.

Read more of this meme promoting crap Here if you care to.

More here at The Broom where in the comments one person notes that Canada's Economic Situation is the best in the WORLD as confirmed by the G7 as of today.

Note that NOT ONE media outlet is reporting that as a headline item!

OMMAG

Swimming In Shallow Water

Unfortunately, I was forced to listen to CBC radio news this morning while preparing my coffee.

The theme of the day seems to be Recession ..... as in ........... we are in one.

As if the depth of knowledge possessed by the CBC talking heads and editors is anything more than the surface slime on a stagnant puddle in an urban parking lot! As if these people are anything but cyphers for people who truly would be happy to see us all struggling with a truly crippled economy.




Stock market corrections no matter how extreme or frightening to the ignoramuses in the MSM do not equal recession.
The Canadian Economy created16,000 net new jobs last month. And the GDP is still in growth territory.

Same thing in the USA.

Massive bank / credit bailouts by federal governments do not equal recesssion.

Recession is negative economic growth for a period of two quarters (6 months)

If you wish to view periods of cyclical economic decline as recession you may have an argument that our economy is in the first stages of such a period.

You may not however draw conclusions about the scope or real impact of any such cycle until you have actual data to support your ideas.

The MSM wants us all to believe that we are on the brink of ruin ..... it makes a better story that way.

OMMAG