Faith and Facts

Blame it on the cows!

The sky is falling, the ozone is fading and the earth is warming. And who is the biggest culprit in this fiasco? Cows. That’s right. Cows. C-O-W-S! Freakonomics has an incredible article with the details.

Turns out, veganism offers the single most effective path to reducing global climate change. Eating less meat means fewer animals in the stockyards and fewer animal “emissions” means less global warming. Overall, the point seems pretty strong: global veganism could do more than any other single action to reduce greenhouse gas emissions.  Read more... (estimated 54 secs)

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Filed under: Double Standards, Economy, Environment

Quotes from Thomas Jefferson -

I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.

To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical.

The democracy will cease to exist when you take away from those who are willing to work and give to those who would not.

It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.  Read more... (estimated 27 secs)

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Filed under: Democrats, Economy, Obama, politics

A number of people have asked me to document how we have spent over $4 trillion in bailout money. Turns out, the graphic below was a snapshot of bailout money and now the total has risen to almost $7 trillion. I believe the final total may top $15 trillion. Of course, I said all this months ago but it feels somewhat good to say, “I told you so” to some folks.

1. See the figures below.
2. Bloomberg estimates that the Federal Reserve has spent $3 trillion and pledged $5.7 trillion which would make the total bailout over $12 trillion.
3. I was on a radio program with Congressman Steve Pearce (R-NM) recently and he confirmed that trillions are being spent without approval of Congress.  Read more... (estimated 1:00 mins)

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Filed under: Economy

The Dow Jones Average has experienced the largest two day drop since 1987, reminding us that our financial troubles are far from over. Jobless claims and a shrinking economy have crushed earnings reports and stock prices. Overnight, Japan was down 6% and European stocks were down 5-10%. Russia is in trouble and China is not doing well.

Exxon, Cisco, Kroger, Tyco, GM, Intel, Blackstone, Amazon, Wells Fargo, all down. If President-elect Barack Obama has a plan for all this, now is the time to speak up since “change has come to America.”  Read more... (estimated 1:07 mins)

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Filed under: Economy

We just loaned them $85 Billion. But that wasn’t enough.

Everyone. Together now. “I told you so!”

The Federal Reserve announced Wednesday it was lending billions of additional funds to cash-strapped American International Group Inc.

Under the program, the New York Federal Reserve Bank will provide $37.8 billion in additional cash to certain domestic life insurance subsidiaries of AIG  in return for investment-grade, fixed-income securities.

AIG already has an $85 billion line of credit with the Fed. As of last week, AIG had used $60 billion of this loan, according to Fed data.  Read more... (estimated 38 secs)

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Filed under: Economy, politics, subprime