Tuesday, February 9, 2010

Lets look at the student loans brouhaha

First, a quick overview of what a student loan is.

These are loans to students who pursue higher education (in a college or a universsity).

The most popular loan, the Stafford Loan, has two versions, subsidized and unsubsidized.

Collegescholarships.org:

Here is the unsubsidized version:

A loan interest rate is the percentage of the total loan amount. The higher the interest rate, the more it matters. The higher the interest rate the more you pay in the long run over and above the real amount you first borrowed. For example, when you take out a loan for $20,000 with a loan repayment term of 10 years, the truth is you will ultimately pay well over $20,000. How much more? Completely depends on the loan interest rate. It could be a few thousand dollars. When boiled down an interest rate is the price you pay for borrowing money from a lender.


The subsidized version is the same thing, with one addition:

If you qualify for a subsidized Stafford Loan the federal government pays the interest on the loan:

* While you are in school.
* If you enter a period of loan deferment.
* During the six-month grace period that immediately follows graduation.

You take over loan repayment, of the principal and interest, after the initial 6 month grace period ends.



Got that?

Our tax money pays banks the interest on the student loans while the students are in college, studying, and up to six months after a student graduates.

This is a sweeeeeeeeeeet deal for banks.


Obama and co., in one of the very few good moves he and his team of happy pretend liberals did, do the right thing.

Washington Post:

Education Secretary Arne Duncan on Tuesday urged the Senate to overhaul student lending


"Working Americans pay while bankers get rich," Duncan said in a prepared statement. "Sallie Mae executives have paid themselves hundreds of millions of dollars in the last decade while teachers, nurses, and scientists -- the backbone of the new economy -- face crushing debt because of runaway college tuition costs."


Duncan's unusually pointed critique marked an escalation in the student loan debate as the Obama administration seeks to end a program that uses private lenders as middlemen for federally backed loans.


Snip.

In September, the Democratic-led House passed a bill, over strong industry and Republican opposition, that would mandate a switch to direct government lending. It would steer an estimated $80 billion in savings over the next decade to grants for needy students and other education initiatives.


The government basically said fuck it, why pay bankers to give loans to students and they reap the benefits - lets cut the parasites - errr, sorry, middlemen - out, and use the government to lend to the students directly.

After all, the bureaucracy to process the Stafford loans is already in place; lets use it.


Of course, this is socialism! (as if paying interest directly to banks is not) cry the industry shills, lobbyists and retarded libertarians.

NYTimes, Lobbying Imperils Overhaul of Student Loans:

an aggressive lobbying campaign by the nation’s biggest student lenders has now put one of the White House’s signature plans in peril, with lenders using sit-downs with lawmakers, town-hall-style meetings and petition drives to plead their case and stay in business.


After all, this is free money to the banks.

Our tax money, directly into the banks pockets.

And the useless parasites - err, middlemen - do not want to lose their suction cups on our tax money capillary.

In this case, I am with our fine Indonesian president (hee hee).

Fuck the parasites.

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Wednesday, February 3, 2010

9/11

My fellow blogger (with whom I disagree a lot politically) has a brave, bold post on his blog about 9/11.


Please give it a try:

Some thoughts of a newcomer to the 9/11 Truth movement

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Thursday, January 21, 2010

What the Fuck, Supreme Court?! ... and other assorted shit

What the Fuck, supreme court

I guess the pretense is over.

No need to play act this whole "democracy" sham.

Perhaps the joke that "our" "elected" "representatives" (quotations on each word very apt indeed) should wear uniforms with their sponsors' logos on them, a la NASCAR and other sports, is no longer a joke - nor very funny.

MSNBC - What the Fuck?!

In a landmark ruling, the U.S. Supreme Court on Thursday struck down laws that banned corporations from using their own money to support or oppose candidates for public office.


By 5-4 vote, the court overturned federal laws, in effect for decades, that prevented corporations from using their profits to buy political campaign ads.


If you are not talking about this at work tomorrow, if there are no mass protests over this...

Ah, who am I kidding.

Most Americans have no idea about this - nor will they in the future.

American Idol is back on!

So a corporation is a person, in a legal sense, eh?

Well, here that train of thought is taken to its logical conclusion.

So now, I guess if a corporation, the person, Mr. Goldman Sachs, does something wrong, it will be locked in a jail, awaiting a trial, right?

What nonsense, taken to its ultimate, nonsensical end.


In case some libertarian or right-wing retard has the nerve to defend this supreme court decision that "money = free speech", I recommend violence.

If you are a peaceful person (or a coward like myself), just ask them politely if they see an issue with a multinational corporation, led by a foreign national (say, a Japanese) giving money to an American politician.




Other Assorted Shit

As you can tell, I am somewhat miffed about the way this whole thing is playing down once obama, the false savious, got elected.

Every single goddamn decision from this administration has been to the benefit of the elites, the 1% who run this country, and nothing was given to the middle class, the 80% who IS this country, who pays taxes, who make this country work.

Parasites are rewarded.

Item one - the "banks".

What caused the financial crisis in the first place?

The "banks".

You see, after the repeal of the Glass Steagall Act (google the motherfucker if you STILL don't know what it is), banks ceased being banks and instead became "banks".

They were allowed to trade on the stock market.

They were allowed to slowly but surely get out of the business of giving loans and get more and more into putting the money into the casino known otherwise as the stock market.

How do the super rich, the elite, the George Soros; of the world, make their money?

By fucking around in the stock market.

And "our" paid and bought for governments did everything in its power to feed this beast with as much money as it could.

The super rich, the elite, want as much money in the stock market as they can get, to get more money, more power.

The more money there is churning in the stock market, the more easy it is to hide shit - a million here, a billion there.

When looked at it this way, all of this starts to make sense.

Allowing banks to trade in the stock market.

Abolishing pension plans and forcing idiot Americans to "invest" their hard earned money in 401K plans which are used to siphon their monies away.

Remember 'w' bush's plan to privatize social security - i.e. force you to invest in the stock market?

All part of a pattern.

I laugh at the people who still have money in the stock market, and cry for those who believe in the "put it in and hold it till retirement" strategy.

If you want to strike a blow against the mammon, against the beast, take your money out of banks, put it in a reputable credit union, and, as a second step, take your money out of the market (if you can afford it and are willing to pay the price - but chances are, you are an amateur, in a 401K, and will be lucky to get out the monies you put in never mind growing it, when inflation is taken into account).


And lets take a look at the crisis.

I wrote about this somewhat extensively, but lets cut to the chase.

Banks loaned money to deadbeats and riff raff to buy houses or whatever.

They bundled all these dead beat loans with some good loans, went to AIG insurance, insured them (while paying AIG to do so) and then got the rating agencies (Moodys, etc) to give this bundle of shit an AAA super-good-can't fail-will be paid no matter what rating.

Then they took these so called financial instruments and traded them on the market, selling them to idiots worldwide ("it's insured!", "it is triple AAA rated, can't fail, very safe!", "can't lose money with this investment!").

And then the house of cards has fallen down.


So what does team RAHM EMANUEL, GEITHNER, BERNANKE and obama do?

Do they punish the banks?

Do they tighten regulation?

Hell no!

They change the fucking accounting rules, changing them from "mark-to-market" (i.e. in your accounting ledger you must write down what you own and its current market price) to "mark-to-fantasy" (i.e. a thing that a company owns is worth exactly what that company's CEO and CFO say, never mind what the market says. Which reminds me, this keyboard that I am typing this blog entry on is now worth $1,000,000 - cuz I say so. See how this accounting change works in the banks' favor?).

Next, they take our tax money away - ALL our taxes, and our children's taxes, and our childrens' childrens' taxes and... well, you get the idea.

They take trillions of our monies.

And what do they do with them?

Do they do the common sense thing and buy the bad loans, rated AAA, insured by AIG, to clear those banks accounting ledgers and wipe the slate clean?

Heeeellll no!

They give these trillions to the banks, with no questions asked, with no regulation or oversight whatsoever.

Here, banks who caused this mess, take our money, please!

Which makes me wonder - exactly what is the value (or actually the negative value) of these "bad assets", these bad bundles of loans?

Because what happened was that the banks chose NOT to clear their accounting books, but instead they pumped this money into the stock market.

And the stock market took off.

And the idiot americans rejoiced, as they looked into their 401K plans without factoring in inflation, the loss of their jobs and the death of their country.

To aid in this "recovery" (the joke of the elites is that this is a "jobless recovery", which phrase is said by "experts" on TV and idiots talking about the water cooler in your office - lagging indicator and similar nonsense), our fearless elites at the FED lowered the borrowing rate to zero.

0%.

That is what the FED charges the banks as they loan them money.

The banks (remember - they are truly people now, so this is grammatically correct) see that the economy is in the shit (thanks to them!), and that everybody who wanted a house (or a business, or a car, or a restaurant, or a Wii) got a loan and cannot pay it back, resulting in foreclosures and bankruptcies.

So they "invested" in that other place - yes, the stock market.

Making the market reach dizzying heights, recouping its losses, with "experts" on TV screaming Recovery! Green Shoots! Recession Over!

And the idiot americans rejoiced, as they looked into their 401K plans without factoring in inflation, the loss of their jobs and the death of their country.

What a deal, eh?

Borrow money at 0%, put it in the stock market, and watch it grow.

In case you want to join in the action, my fine american friend, feel free to borrow money.

But since the banks are not lending, whip out that credit card of yours (given to you by your favorite bank, which you bailed out and supported) and get a loan.

At 29.99%!


This whole wealth of these banks was false, fake, imaginary, a sleight of hand conman's trick.

Let me finish this section with what I wrote about the financial crisis back in the day, as I shamelessly copied a person's post from another blog.

So lets simlpify, both the fiscal crisis and the media and politicians (Obama and the Congress) spin, in three fucking sentences:

Why are we pumping taxpayer dollars into these companies to make their imaginary wealth real?

Why didn't the SEC detect any of this, including the Madoff ponzi scheme?

Why aren't those questions asked every fucking day on the media, but instead we get the outrage de jour everyday?


But wait, there is more shit from our false saviour.

Lets talk about



Healthcare "reform"

Remember the sentence about parasites?

Look at our healthcare system.

You the sick person have a stroke, a heart attack, or something equally serious.

You have paid in full your health insurance up to this fateful day, and as you ride in an ambulance you at least know that you are covered - the very name, healthcare insurance is leading you to believe that it exists exactly for this purpose - to cover you in a health emergency, just like a car insurance does when your car suffers an accident.

But soon the trouble starts.

First, that ambulance ride was not covered - the insurance company has said that that particular ambulance service was not in their plan - sorry!

You see, in America, when one has a stroke, a seizure or a heart attack, one must have the presence of mind to call in their insurance company on their cell phone and inquire if the ambulance which has showed up is actually insured.

Lets assume that the unfortunate thing happens, and you get somewhat healthier but now have a long term condition.

The game starts where the insurance company looks for everything and anything to NOT pay the doctor, while the doctors inflate their bills to ridiculous figures because they know that will happen.

It is a war of wits between two legalized thieves in America, the doctors and the healthcare insurance.

As they argue and wrangle, you, the patient, get a bill in full.

And soon you are on a credit collection agency call-in-the-middle-of-the-night shit list.

Meanwhile, the insurance and the hospital still argue about money, while you get a lullabye from a credit collection shill screaming at you that you are a worthless deadbeat.

And lastly, the healthcare insurance boldly states that since you have had the pre-existing condition, which you did not report to them, they are cutting you off.

What pre-existing condition, you ask in a desperation tinged voice?

Oh, whatever.

Pimples.

Measles.

Your pee is too yellow.

Anything is legally permissible.

If you are smart, you will then ask about all the money you have already paid this healthcare insurance company, to which you will probably get laughter at the other end of the line.

Click. Busy signal.

Think about it.

Healthcare in America is a for profit corporate entity.

What is their incentive for them to pay you money so that you get better?

None.

It is much better for them if you die, and as quick as possible.

Isn't capitalism great?

Think some more.

Every time they pay you money, for the ambulance ride, for medicines, for treatment, for operations, they LOSE money.

That is money off their CEO's bonus plan.

Some incentive, eh?

Be a good american and die off already!


So, coming back - how did team RAHM EMANUEL, GEITHNER, BERNANKE and obama reform this insane system?

Did they make healthcare insurance be non profit, a very simple and effective solution?

Heeeelllll no!

The "reform", such as it is, forces you to buy healthcare for profit insurance, or you pay a penalty to the government.

But wait, there is more.

Or rather, there isn't.

Nothing changed - the fraud provision, which allowed a healthcare insurance company to claim fraud because you forgot to tell them of your pre-existing condition (measles. a pimple. yellow pee.) is STILL in.

The government is forcing you to buy this for profit health insurance, so perhaps they negotiated the cost that they can charge you for their services?

Noooooooo?

Then perhaps team RAHM EMANUEL, GEITHNER, BERNANKE and obama negotiated prices that you will pay for medicines, and what medicines should be covered under your insurance plan?

Noooooooo?

Then what the fuck does this "reform" do?

Oh, that's right.

Force you to buy health insurance, and nothing more.


Everything for the elites, none for you.

Have a nice day, my fine american friend (and fuck you... and fuck me, and all of us).

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Monday, January 18, 2010

Iran thanks American soldiers, part three

Agence France Presse: 'Saddam' ban threatens Sunni stake in Iraq elections

The decision to ban candidates accused of links to Saddam Hussein's Baath party from running in Iraq's general election could exclude Sunnis from the political arena and spark new sectarian tensions.

The move also threatens to damage the March 7 ballot by creating a campaign battleground where past quarrels will be exposed rather than healed under a much vaunted but stumbling national reconciliation process, analysts told AFP.

An official blacklist released by the Independent High Electoral Commission on Thursday barred 500 candidates.

What does this mean?

Antiwar.com:

The ban effectively destroyed the only successful non-Shi’ite political bloc, a non-sectarian coalition led by Sunni MP Saleh al-Mutlaq and former Prime Minister Ayad Allawi. Though Allawi, a Shi’ite, was not banned himself, the loss of the Sunnis in his bloc effectively relegates him to political irrelevance.

The move has sparked fury among the Sunnis(...)

Quick Middle East lesson.

There are two main groups in Islam, who dislike each other, sort of like the Protestants and Catholics circa XVIII Century (read up on Gustavus Adolphus to catch my drift).

Iran, the regional power, is Shiite.

Saudi Arabia and the majority of other Arab countries are Sunni.

Saddam was Sunni.

America, by overthrowing Saddam and putting an obvious Iranian pawn and influence agent, Maliki, in power, has not only destabilized the whole Middle East region, but handed Iraq, a traditional enemy and counter-balance to Iran (google Iran-Iraq war) into Iranian mullahs' hands.

So, when your family member who has served in Iraq comes home, shake his or her hand and tell them that Iran thanks them.

Very much.

Of course, this train of events was set up by a wholly different set of agents of influence in this country, the United States of America.

I have already written about it extensively, so will skip this here.

If you have missed it, the links are on the right hand side.

Feel free to peruse

Iran thanks the brave American soldiers!


and

Iran thanks the brave American soldiers! Part 2

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Saturday, January 9, 2010

The bravest 13 year old in the world

Please note: from what I understand, no where in the koran does it state that a woman must wear a hijab (veil). It only states that she must dress modestly.



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Tuesday, December 29, 2009

One Year Later, Palestinians Live in Rubble While Israel Blocks Aid

Crooks and Liars (blog): One Year Later, Palestinians Live in Rubble While Israel Blocks Aid

Well go figure.

A mainstream (lefty) blog goes off the reservation.

The lone CAMERA troll is outnumbered by collective outrage.

Collect more money, AIPAC, American politicians' loyalty must be paid for continuously.

There's more...

Ron Paul vs Ben Stein Dust Up on Terrorism

It's a fun watch.

Ron Paul (American patriot): truth, truth, TRUTH.

Ben Stein (American-in-name-only dual loyalty Jew): lie, obfuscate, distort.



RON PAUL: Why?

BEN STEIN: Why should we stop them? Because they are terrorists and murderers and they're very anti-American.

RON PAUL: Why are they terrorists?

BEN STEIN: Surely congressman --

RON PAUL: Why are they terrorists?

BEN STEIN: They're terrorists and murders because they are psychos.

RON PAUL: They're terrorists because we're occupiers.

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Monday, December 28, 2009

It is past Christmas (unless you are Orthodox Christian) but...

The Israel Lobby and U.S. Foreign Policy is on Amazon for $10.

You can go to a bookstore and buy it for $15.


In case you have not read this book, do not own it or have not given it as a Christmas present to your favorite Jewish friend (Happy Hanukkah!), may I ask why the fuck not?

The first comment on the book has a title.

Stunning.


Indeed.

In case you haven't, go buy this book and start reading.


Support the blacklisted in USA (though not in Israel) professors Mearsheimer and Walt.

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