Nancy Pelosi’s bad date – A Jay Walker Rant™

Nancy Pelosi is the first lady to be the Speaker of the House.  That in itself is a great accomplishment and I will forever have respect for that.

But judging by her performance on a recent television interview, I cannot help but believe that she is inexperienced at best when it comes to economics.

So without any further adieu, I present Nancy Pelosi’s bad date.  She appeared that nervous.

Mr. Farahmand, I want Max!

Iran’s PressTV is considering a new TV show presented by Max Keiser and Afshin Rattansi.

They make good TV.  See an example here.

Email Mr. Farahmand.  newsroom@presstv.ir

12/21/2012 – A Jay Walker Rant™

Some people believe in the “undeniable fact” that the end of the world is coming on 12/21/2012.

The belief is based on the Mayan calendar.  Apparently, the Mayans were way way smarter than we ever could be and somehow, with a few stones and twigs, were able to calculate that 12/21/2012 would be the last day on earth.

So it’s an “undeniable fact”.  Nevermind that a fact has to be proven and in this case, the only way to find out for sure if it’s true will be after 12/21/2012.  Then and only then we will know if it was an “undeniable fact”.

Those of you going on about how we’re all going to die on 12/21/2012, I have one thing and one thing only to tell you.

STFU!

STFU because even if you’re right, I don’t want to hear about it.  STFU because at the end of the day, you’re a living, breathing, eating, shitting and fucking human being like the rest of us and no fucking diety.  And since you’re no diety, you got no business telling me how and when I’m going to die.

The Mayans were apparently really good at human sacrifices.  I got one of my own.  I’ll fly down to the next motherfucker’s house telling me that 12/21/2012 is my last day on earth and I’ll give you a torn scrotum.  That way, if you’re wrong about 12/21/2012, at least there will be no hope that your stupid conspiracy theorist ass can reproduce ever again.

Bernanke, a trillion dollars and keeping the Titanic afloat.

Bernanke, a trillion dollars and keeping the Titanic afloat.

My first YouTube video ever.  A work in progress but hopefully you will like it.

The Audacity of Debt

So the numbers are out.  The estimate is that  the deficit during Obama’s first year at the helm of the Presidency will be of $1,200,000,000,000.  That’s $1.2 Trillion dollars.

The estimated population in the United States as of July 2008 was of 303,824,640 which means that every men, women and child in the United States will have an additional debt of $3,949.64.

That doesn’t include what will be a second bailout package of at least $700 Billion.

So where all this money is coming from?  Print it and the dollar will become worthless like Zimbabwe’s currency.  Borrow it and it has to be paid later.  But with what money?  Print it and the dollar will become worthless…and round it goes.

Borrowing more and continue running a deficit makes as much sense as throwing gasoline on a bonfire in the hope of extinguishing it.  It was nice to see Obama elected.  But the honeymoon is over;  He should know better.

Barack Obama wrote a book called The Audacity of Hope.  Now he’s presenting America with The Audacity of Debt.

China will not land money to the deadbeat junkie economy America now is.  Obama and his advisors should do with the nation’s budget what we all should do with our own…Get our asses out of debt.

Respect the visionary

There are times in history where some individuals are ahead of their time.  Rock and Roll for example was seen by some as being ahead of it’s time.

But it didn’t stop Little Richard from singing Tutti Fruiti and years later, he got the deserved recognition as a visionary.

Which brings me to Nick Leeson.  Yes, that Nick Leeson.  The rogue trader who brought down Barings Bank in the 90’s.

See, according to Leeson himself, he cost Barings an estimated 1.3 billion dollars in liabilities.  The problem was that Barings didn’t have 1.3 billion dollars and just like the Titanic, it sunk and it sunk majestically.

But that was then and this is now.

Banks today have more than 1.3 billion dollars and if you’re an American bank and don’t have that kind of cash laying around, you call Ben Bernanke.  He will come with his helicopter and throw cash down to your front door.

Leeson’s exploits of the 90’s pale in comparison of the corrupt financial system seen in America and in the UK these days.  They pale in comparison just in the same way Little Richard pales in comparison to Ozzy Osbourne.  Nowhere near as brash but still worthy of respect for being a visionary.

What Leeson did was most absolutely despicable.  However, he did pave the way for today’s crooks in the financial centers of the world to ply their trade not only unencumbered but also subsidized.

Nick Leeson, you where a crook but you where a visionary and for that I salute you.

Max Keiser’s Oracle – At long last!

A while ago, I asked people reading this to contact Al-Jazeera English to get The Oracle with Max Keiser on the air.

The bad news is that Al-Jazeera didn’t pick up the show.

The great news are that BBC World has picked up the show.  Max Keiser and Stacy Herbert are shooting episodes now and it will be airing on January 9th.

Mr. Keiser is a financial analyst, a former Wall Street stock broker and one of the founders of the Hollywood Stock Exchange.  He also hosts The Truth About Markets with Stacy Herbert on Resonance 104.4 FM in London.  Max also has a blog at karmabanqueradio.com and a news site at maxkeiser.com

More can be found about The Oracle with Max Keiser on BBC’s site

Give Rick Santelli his show!

My friend, Don Harrold says it all. I don’t agree with him all the time but I agree with him on this one.

I.O.U.S.A.: The Movie

I.O.U.S.A.: The Movie

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Leave Hank Paulson Alone

I could write a long text today rambling about why Hank Paulson should be left alone.  But professional day trader, Don Harrold is explaining it so well that frankly, I see no reason why I should.

I have been watching Mr. Harrold’s videos for quite some time.  I enjoy his no nonsense style and the only reason I don’t subscribe to the services he offers to day traders is because I trade forex exclusively.  I would recommend that everyone who enjoys reading Jay Walker’s Financial Traffic subscribes to Mr. Harrold’s free YouTube channel.

So without any further ramblings, watch Don Harrold explain why Hank Paulson should be left alone.