The Sugar Daddy has hypoglycemia?

posted at 12:00 pm on July 10, 2011 by Ed Morrissey

Margaret Thatcher distilled all the problems of central planning into this one quote*: “Socialist governments traditionally do make a financial mess. They always run out of other people’s money.”  Last night, Sarah Palin gave us a new version of the argument, saying that the sugar-daddy government — and President — has run out of sugar, and we need to cut off the supply of sucrose:

To paraphrase Hemingway, people go broke slowly and then all at once. We’ve been slowly going broke for years, but now it’s happening all at once as the world’s capital markets are demanding action from us, yet Obama assumes we’ll just go borrow another cup of sugar from some increasingly impatient neighbor. We cannot knock on anyone’s door anymore. And we don’t have any time to wait for Washington to start behaving responsibly. We’ll be Greece before these D.C. politicians’ false promises are over. We must force government to live within its means, just as every business and household does.

We can’t close our $1.5 trillion deficit overnight, but we must get as close as we can as soon as we can. Little nibbles here and there over 10 years (spun to sound like they’re huge budget cuts) aren’t anywhere near enough. I know from experience that cutting government spending isn’t easy. As governor, I made the largest veto cuts in my state’s history, and I didn’t make many friends doing it. But we will never recover, we will never get free of devastating debt, unless we make tough choices now. We don’t hear talk like this from leaders in D.C. or from those running for office because they say what they think we want to hear rather than what must be said.

We are in desperate need of real leadership, but President Obama’s solution to everything is to grow government by borrowing more money, spending more money, printing more money, and taxing our job creators. He once said that he “believes in American Exceptionalism…just as the Greeks believe in Greek Exceptionalism.” Well, the path he has us on will make us just as “exceptional” as Greece – debt crisis, stagnation, permanent high unemployment, and all.

As we approach 2012, there are important lessons we can learn from all of this. First, we should never entrust the White House to a far-left ideologue who has no appreciation or even understanding of the free market and limited government principles that made this country economically strong. Second, the office of the presidency is too important for on-the-job training. It requires a strong chief executive who has been entrusted with real authority in the past and has achieved a proven track record of positive measurable accomplishments. Leaders are expected to give good speeches, but leadership is so much more than oratory. Real leadership requires deeds even more than words. It means taking on the problems no one else wants to tackle. It means providing vision and guidance, inspiring people to action, bringing everyone to the table, and with a servant’s heart dedicating oneself to striking agreements that keep faith with our Constitution and with the ordinary citizens who entrusted you with power. It means bucking the status quo, fighting the corrupt powers that be, serving the common good, and leaving the country better than you found it. Most of us don’t see a lot of that real leadership in D.C., and it’s profoundly disappointing.

The mention of Greece should remind people that while we’re begging for more sugar from China and sovereign-wealth funds around the world, we’re also loaning sugar to Greece through the IMF.  We’re bailing out a country that has so far struggled to change course and operate without deficits, while we’re failing to learn the lesson from their collapse.  And this is the same government that ran three trillion-dollar-plus deficits in a row thanks to a massive uptick in spending, and insists that the problem is revenue.

The Obamas have fought a public battle against childhood obesity.  It’s time that they start dealing with federal-government obesity.  Time to cut off the sugar instead of accepting the idea that all we need is a trillion more donuts for government to finally start its diet.

* – It’s often rendered as “The problem with socialism is that eventually you run out of other people’s money,” but that’s a paraphrase; it’s easy to see why the paraphrase is more often remembered.

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O/T: Just finished reading the Newsweek piece on Palin. Interesting read and very even handed. Something for everyone here, supporters and detractors alike.

Kataklysmic on July 10, 2011 at 7:02 PM

Well, after reading a little of it I don’t think that “She’s going to step aside and endorse Perry” is in the cards any time soon.

ddrintn on July 10, 2011 at 7:06 PM

bayam on July 10, 2011 at 7:01 PM

Honey, you need a better dealer. 11** NW 5th Ave. Ft. Lauderdale , Fl. See the fat chick in the back unit.

katy the mean old lady on July 10, 2011 at 7:06 PM

The banks remain intact, operate without adequate regulation, and remain too big to fail.

bayam on July 10, 2011 at 6:49 PM

Ohhhhh….you mean we need to let Barney Frank and Co. have MORE of a say in how banks are run, since he’s shown such wizardry in the past. Right?

ddrintn on July 10, 2011 at 6:59 PM

No, I’m speaking to the lack of regulation that Alan Greenspan has addressed as the underlying cause of the financial markets near collapse. As long as banks are allowed to operate as casinos that can use leverage to place the opportunity for short-term profits above long-term viability, the system will remain fundamentally exposed to failure.

On result- no one can say how the collapse of Greece will affect the US. The CDO exposure of our financial systems is a complete mystery.

bayam on July 10, 2011 at 7:06 PM

O/T: Just finished reading the Newsweek piece on Palin. Interesting read and very even handed. Something for everyone here, supporters and detractors alike.

Kataklysmic on July 10, 2011 at 7:02 PM

Too bad nobody reads Newsweek. Not being snarky, just truthful.

Knucklehead on July 10, 2011 at 7:07 PM

Ms. Palin should fire her ghost writer then since the person obviously can’t even start an essay with simple verb tense agreement

“I dealt with the world as it is, not as I wished it to be.”

Fighton03 on July 10, 2011 at 3:59 PM

Sorry, sport, but that sentence is grammatically correct. “The world as it is…” is written in the historical (or literary) present tense since that aspect of the world is always true.

onlineanalyst on July 10, 2011 at 7:09 PM

Cannonball…that is not exactly a liberal site though I am sure they will will run with the meme.

CW on July 10, 2011 at 1:06 PM

Well, looks like I’ve upset PoliticalByline.com, a site apparently run by a basement dwelling psychopath claiming to be a conserative. I called out his blog for posting the idea that Palin is a racist for using the term “Sugar Daddy” and the guy went off. I posted his article here, generating some traffic for him. He has decided to throw an internet temper tantrum by blocking me from accessing his blog, he removed me from Facebook (boo friggin hoo), and posted the wonderfully Christian-based (/sarc) video response that you can see linked above as a trackback to this article. Or you can click here to view it. Try to watch all ten minutes, it gets better over time. Starts with frustration, turns to violence, then ends with a wonderful anti-semetic cherry on top of this crap sundae.

Try not to get seasick…

cannonball on July 10, 2011 at 7:10 PM

Too bad nobody reads Newsweek. Not being snarky, just truthful.

Knucklehead on July 10, 2011 at 7:07 PM

If Palin’s the subject in the atmosphere of “will she or won’t she”, I’d imagine readership spikes a bit. Nobody reads Vanity Fair, either, but that hit piece on Palin got lots of attention.

ddrintn on July 10, 2011 at 7:10 PM

OT check out this chart on jobs picture in the various recessions since 1945.
http://cr4re.com/charts/charts.html#category=Employment&chart=EmployRecessAlignedJune2011.jpg
He definitely made things worse.

txmomof6 on July 10, 2011 at 7:16 PM

O/T: Just finished reading the Newsweek piece on Palin. Interesting read and very even handed. Something for everyone here, supporters and detractors alike.

Kataklysmic on July 10, 2011 at 7:02 PM

I just read the whole article too, and I have to admit that I was shocked at how fair it was.

Oh, and . . . she’s running and I can’t wait. Palin/West 2012.

Naturally Curly on July 10, 2011 at 7:16 PM

Well, after reading a little of it I don’t think that “She’s going to step aside and endorse Perry” is in the cards any time soon.

ddrintn on July 10, 2011 at 7:06 PM

Yeah, I didn’t get that feeling either, lol.

Too bad nobody reads Newsweek. Not being snarky, just truthful.

Knucklehead on July 10, 2011 at 7:07 PM

I agree. I haven’t read them in years. I checked out this piece to see how much of a trainwreck it would be and wound up being pleasantly surprised.

Kataklysmic on July 10, 2011 at 7:18 PM

Yeah, and he didn’t nationalize any of the auto manufa…oh. Well at least he didn’t try and nationalize health ca…well, shoot!

Of course, the auto industry was bailed out, but the goal wasn’t nationalization, it was keeping the auto makers in business. Today the automakers control their own destinies.

Keep in mind it was action initiated by Bush to hedge the country’s bets against a full-fledge collapse of the economy by protecting millions of jobs. If the auto industry had failed, this country’s status as a manufacturing power would have come to an end.

By the way, you need to figure out what the right was calling for during “bail out mania” in 2009. We certainly weren’t supporting the stimulus package. I believe most of us were the ones accused of being crazy because we said “Let them fail…that’s why we have bankruptcy laws.”

Ben Bernanke, Hank Paulson, and other Republicans running the nation predicted another Great Depression if the entire financial system had collapsed. Bankruptcy laws wouldn’t have enabled you to withdraw cash from an ATM when the banking system shut down. It’s convenient now, after the fact, to talk about how the crisis wasn’t a big deal.

bayam on July 10, 2011 at 7:19 PM

STILL WAITING FOR COMMENTS ON HER ACTUAL POST>!!!!

katy the mean old lady on July 10, 2011 at 7:21 PM

If I say there are no stinking liberals in this thread then there are none …. unless there are!

Rod on July 10, 2011 at 6:42 PM

LOL, have another beer sparky.

Fighton03 on July 10, 2011 at 7:22 PM

STILL WAITING FOR COMMENTS ON HER ACTUAL POST>!!!!

katy the mean old lady on July 10, 2011 at 7:21 PM

I gave you one. Nobody responded. Why would I continue to converse with myself?

Pattosensei on July 10, 2011 at 7:22 PM

O/T: Just finished reading the Newsweek piece on Palin. Interesting read and very even handed. Something for everyone here, supporters and detractors alike.

Kataklysmic on July 10, 2011 at 7:02 PM

Me too. I was just done picking up my jaw…then got to the comments, and oh well there goes reality again.

ProudPalinFan on July 10, 2011 at 7:24 PM

Of course, the auto industry was bailed out, but the goal wasn’t nationalization, it was keeping the auto makers in business. Today the automakers control their own destinies.

bayam on July 10, 2011 at 7:19 PM

Uh, no. It was all about bailing out those reliable Dem donors, the UAW.

ddrintn on July 10, 2011 at 7:26 PM

I gave you one. Nobody responded. Why would I continue to converse with myself?

Pattosensei on July 10, 2011 at 7:22 PM

Yes, my dear, you did. I thank you I’m waiting for the clowns to stop the sniping and address the content of her post. Breath holding is not an option.

katy the mean old lady on July 10, 2011 at 7:28 PM

Past the half-way point to 1,000 on a Sunday…

ajacksonian on July 10, 2011 at 7:29 PM

Don’t worry, the decline of the middle class that started in 2002 is only accelerating. The rich are becoming richer while the middle class is losing its grasp on the American dream. No spreading the wealth has occurred.

bayam on July 10, 2011 at 7:01 PM

Umm…

Challenging The Middle Class Stagnation Myth: From 1979-2007 The Rich Got Richer And Poor Got Richer

steebo77 on July 10, 2011 at 7:29 PM

Oh, the Left has TONS of tricks like this in their arsenal. I think the most powerful is projecting/accusing someone of racism (or whatever else) while that very accusation is itself racist. The AGW people have taken to moving the goalpost and luckily for them, if you find you can’t move it, there’s always the other goalpost.

It’s always the same trick over and over and over again. A guy named Michael Shermer wrote a book called “Why People Believe Weird Things.” He was mainly talking about things like UFOs and Bigfoot, but the same thing applies to all of what are today referred to as “liberal” “ideas.”

It’s exactly the same technique used in group therapy sessions. (And I’m pretty sure that’s not a coincidence.) The only rule is: Thou Shalt Not Be Judgmental. And anyone who is gets treated like a pariah.

It all makes perfect sense when you’re dealing with psychosis. It doesn’t help one tiny bit to tell someone with a pathological fear of spiders that he’s just being silly. You have to accept that the person feels that way before you can begin to discuss the basis (or lack thereof) for the crazy-ass feelings he has.

Unfortunately, like all narcotics, there is a tremendous temptation to turn what should be used only under strictly-controlled clinical circumstances into the basis for a pain-free lifestyle.

It’s actually somewhat brilliant. How do you win an argument without logic? By being like Reagan. You explain it in such a simple manner that it relates to everyone where it becomes ridiculous to try and contradict what the people now know to be true.
MrX on July 10, 2011 at 5:50 PM

This is why liberals react with such mindless knee-jerk bile toward people like Reagan and Palin.

It is impossible to out self-righteous a liberal. The best-case scenario is that you end up looking just as crazy as they are. But when you attack liberal IDEAS, with no regard whatsoever to how the moonbats feel about themselves; liberals always respond with what Bill Clinton so gleefully calls “The Politics Of Personal Destruction.”

It doesn’t take a lot of brainpower. All it takes is a little bit of common sense, and balls of steel.

logis on July 10, 2011 at 7:32 PM

She was right the first time she said it and she’s right about spending today. Does anyone out there run their family finances the way Zero runs our govt finances? Didn’t think so. Sarah has run a family business, a city and state govt. Pry that red phone outta the dear leader’s hands Nov ’12 and hand it to someone who knows what needs to be done.

Kissmygrits on July 10, 2011 at 7:36 PM

bayam on July 10, 2011 at 6:49 PM

Yet he did take defacto control of two of the big three automakers; injecting himself into their restructuring, and even (in the case of GM) imposing his choices onto their choices of leadership. Admittedly, more fascist than socialist, but to pretend that his bent hasn’t been toward socialism/increased government control is willfull ignorance.

massrighty on July 10, 2011 at 7:36 PM

cannonball on July 10, 2011 at 7:10 PM

My sympathies. I once ran afoul of that thumb-sucking simpleton years back, and he was just as bad. Unfortunately I didn’t think to save a local copy of the comment that set him off because I spent an hour doing research for it, which is a personal record for me.

Uncle Sams Nephew on July 10, 2011 at 7:40 PM

katy the mean old lady on July 10, 2011 at 7:06 PM

I need a better dealer, too; got anything north of Boston?

massrighty on July 10, 2011 at 7:41 PM

Ben Bernanke, Hank Paulson, and other Republicans running the nation predicted another Great Depression if the entire financial system had collapsed. Bankruptcy laws wouldn’t have enabled you to withdraw cash from an ATM when the banking system shut down. It’s convenient now, after the fact, to talk about how the crisis wasn’t a big deal.

bayam on July 10, 2011 at 7:19 PM

And a great many of us saw/see Bernanke and Paulson as the corrupt Goldman progressivists they are and would rather have dealt with the so-called collapse.

Socmodfiscon on July 10, 2011 at 7:45 PM

cannonball on July 10, 2011 at 7:10 PM

The thing he missed, and that Ed missed as others pointed out, is that Sarah Palin didn’t call Obama the Sugar Daddy:

Hard working taxpayers have been big government’s Sugar Daddy for far too long, and now we’re out of sugar. We don’t want big government, we can’t afford it, and we are unwilling to pay for it.

Taxpayers, and she included herself, are the ones she called the Sugar Daddy.

INC on July 10, 2011 at 7:45 PM

bayam on July 10, 2011 at 7:19 PM

Socialism is great when you are one of the more equals.

Socmodfiscon on July 10, 2011 at 7:46 PM

Admittedly, more fascist than socialist, but to pretend that his bent hasn’t been toward socialism/increased government control is willfull ignorance.

Yes, Obama took over the auto industry in a fascist power grab.,. brilliant! Of course, you fail to mention that the government gave up control only a few years later, illustrating a true lack of socialism or in its intent. You see, socialists believe in controlling the means of production, not accepting publicly traded stock in exchange for bailout funding. It was possibly one of the most anti-socialist bailouts to ever occur.

I guess if things had gone your way, the old GM management team would have been left in charge to continue their reign of incompetency. Your version of capitalism would have won and the US auto industry would be dead. But at least the Asians would be happy.

bayam on July 10, 2011 at 7:47 PM

STILL WAITING FOR COMMENTS ON HER ACTUAL POST>!!!!

katy the mean old lady on July 10, 2011 at 7:21 PM

There have been some. I tried making one on page 2 or 3. They’re just hard to find because you have to skip about 20 or 30 comments to get there.

INC on July 10, 2011 at 7:48 PM

bayam on July 10, 2011 at 7:47 PM

So the govt. contracting to buy a few Volts from itself constitutes a successfully run company? As opposed to say Ford which refused the Obama takeover and seems to have emerged from the crisis fairly well.

Socmodfiscon on July 10, 2011 at 7:50 PM

Here’s one of Palin’s most important quotes of the weekend:

“No, we have to cut spending. It is imperative, and I will be very, very disappointed if Boehner and the leaders of the Republican Party cave on any kind of debt deal in the next couple of months,” she [Palin] said.

Many of the nation’s problems stem not only from Zero’s malice but from GOP Beltway good-ole-boy and RINOs caving and back-room dealing. Confirming Kagan the Perjurer, RINOs selling out on Obamacare etc. The more Palin highlights such potential and realized wishy-washiness on the part of the GOP the better Conservatism’s cause will fare.

viking01 on July 10, 2011 at 7:50 PM

And a great many of us saw/see Bernanke and Paulson as the corrupt Goldman progressivists they are and would rather have dealt with the so-called collapse.

Socmodfiscon on July 10, 2011 at 7:45 PM

Yes, ye good old days of the barter economy… wishing those would return someday along with the pure entertainment value of 25% unemployment. It would have been better than bailing out the banking sector, even if most of the bailout money was repaid. It would have been more true to pure, rightest capitalism.

bayam on July 10, 2011 at 7:52 PM

Sorry, sport, but that sentence is grammatically correct. “The world as it is…” is written in the historical (or literary) present tense since that aspect of the world is always true.

onlineanalyst on July 10, 2011 at 7:09 PM

ummmm, disagree there champ. Then it should have been written, “I had to deal with the world as it is”. Historical first person is not an excuse for mixing tenses within a clause. As you can see I did it by moving the relevant part to the predicate clause and still preserved tense agreement within the sentence.

Disclaimer: I only turned grammar nazi to make light of the idea that the post was too well written to be done by someone other than a paid writer.

Fighton03 on July 10, 2011 at 7:54 PM

The Evolution of how one becomes a “victim of the Palinistas”:

Pattosensei on July 10, 2011 at 6:16 PM

THREAD WINNER

Pattosensei: The pattern you have identified is rampant.

BrideOfRove is just one perpetrator; for that same game is played by many among Palin’s most ardent detractors;

You nailed it; it is done often intentionally by preemptive baiting early in the thread and then playing the victim-card in dramatic fashion when people respond.

WELL DONE.

Geochelone on July 10, 2011 at 7:54 PM

viking01 on July 10, 2011 at 7:50 PM

I agree viking. Rinos “compromise” with Democrats and Republicans get the blame for the failed policies…. and they always fail.

Socmodfiscon on July 10, 2011 at 7:54 PM

GM has had its incompetence subsidized by taxpayers, like Airbus–and when you subsidize something, you get more of it.

You don’t have to be wholly-owned by the government to behave like an incompetent Socialist enterprise. The Trabant was bad, but so was the Corvair.

Emperor Norton on July 10, 2011 at 7:55 PM

Yes, Obama took over the auto industry in a fascist power grab.,. brilliant! Of course, you fail to mention that the government gave up control only a few years later, illustrating a true lack of socialism or in its intent. You see, socialists believe in controlling the means of production, not accepting publicly traded stock in exchange for bailout funding. It was possibly one of the most anti-socialist bailouts to ever occur.

I guess if things had gone your way, the old GM management team would have been left in charge to continue their reign of incompetency. Your version of capitalism would have won and the US auto industry would be dead. But at least the Asians would be happy.

bayam on July 10, 2011 at 7:47 PM

Again, exerting control over the auto industry is textbook facism. And, in my “version of capitalism,” the auto industry bailouts would not have been structured in a way that moved unions into the status of prefered stockholders, ahead of the actual investors who had put their money into the automakers already. If that meant bankruptcy, so be it. There was a power grab. It’s not that the government “gave up control.” Rather, control had already moved to the UAW, where it still is.

massrighty on July 10, 2011 at 7:55 PM

bayam on July 10, 2011 at 7:47 PM

So the govt. contracting to buy a few Volts from itself constitutes a successfully run company? As opposed to say Ford which refused the Obama takeover and seems to have emerged from the crisis fairly well.

Socmodfiscon on July 10, 2011 at 7:50 PM

Ford required the other automakers to remain in business, else it would have collapsed as well. Or did you forget Ford’s stance? As for GM’s latest quarterly statement, I happened to notice strong auto sales and significant profits… not sure which balance sheet or income statement you’re referring to. And when gas reaches $6 a gallon in a few years, Volt sales just might go up.

bayam on July 10, 2011 at 7:55 PM

Yes, ye good old days of the barter economy… wishing those would return someday along with the pure entertainment value of 25% unemployment. It would have been better than bailing out the banking sector, even if most of the bailout money was repaid. It would have been more true to pure, rightest capitalism.

bayam on July 10, 2011 at 7:52 PM

Is this one for real? I mean this idiot has to be a gag right?

Tim_CA on July 10, 2011 at 7:55 PM

I need a better dealer, too; got anything north of Boston?

massrighty on July 10, 2011 at 7:41 PM

Niope, sorry. The “fat chick” is an old property management issue. I have since dumped it, but the fight goes on. She’s dealing crack out of the place and has her young children present. Between myself and FTLPD she’s going down.

katy the mean old lady on July 10, 2011 at 7:55 PM

Is this one for real? I mean this idiot has to be a gag right?

Tim_CA on July 10, 2011 at 7:55 PM

Nope That one is so far up THE DICK IN CHIEF’s azz he’s had brain damage from lack of oxygen.

katy the mean old lady on July 10, 2011 at 7:58 PM

katy the mean old lady on July 10, 2011 at 7:55 PM

I’d not bet against you on that…

massrighty on July 10, 2011 at 7:58 PM

katy the mean old lady on July 10, 2011 at 7:55 PM

Has to be the only Fat Crack Dealer in the world. They usually look like scarecrows.

Tim_CA on July 10, 2011 at 7:59 PM

bayam on July 10, 2011 at 7:52 PM

LOL. So if it weren’t for BoA we would all be swapping chickens now? Next your gonna tell me that Trig really isn’t Sarah’s baby and Bush brought down the towers.

Socmodfiscon on July 10, 2011 at 7:59 PM

And when gas reaches $6 a gallon in a few years, Volt sales just might go up.

bayam on July 10, 2011 at 7:55 PM

Obama calls that encouraging sales.

Socmodfiscon on July 10, 2011 at 8:00 PM

Yes, ye good old days of the barter economy… wishing those would return someday along with the pure entertainment value of 25% unemployment. It would have been better than bailing out the banking sector, even if most of the bailout money was repaid. It would have been more true to pure, rightest capitalism.

bayam on July 10, 2011 at 7:52 PM

Well, you finally said something that most of the posters here would agree with. There is a reason we have bankruptcy laws.

BTW, Check out the U6 numbers then. Your wish is granted.

Fighton03 on July 10, 2011 at 8:01 PM

I need a better dealer, too; got anything north of Boston?

massrighty on July 10, 2011 at 7:41 PM

bayam on July 10, 2011 at 7:55 PM

Try bayam. Nobody can get that delusional without pharmaceutical help.

Caststeel on July 10, 2011 at 8:01 PM

And when gas reaches $6 a gallon in a few years, Volt sales just might go up.

bayam on July 10, 2011 at 7:55 PM

Obama calls that encouraging sales.

Socmodfiscon on July 10, 2011 at 8:00 PM

Funny…he’d almost figured that out on his own.

That’s yer master’s game bayam…you geeeenius you!

Tim_CA on July 10, 2011 at 8:03 PM

katy the mean old lady on July 10, 2011 at 7:58 PM

lmao….again katy, remind me NEVER to piss you off! And if I do….I apoligize in advance!

Tim_CA on July 10, 2011 at 8:06 PM

Yes, Obama took over the auto industry in a fascist power grab.,. brilliant! Of course, you fail to mention that the government gave up control only a few years later, illustrating a true lack of socialism or in its intent. You see, socialists believe in controlling the means of production, not accepting publicly traded stock in exchange for bailout funding. It was possibly one of the most anti-socialist bailouts to ever occur.

bayam on July 10, 2011 at 7:47 PM

Considering that the treasury still owns 26% of GM stock (early june), and has a controlling interest in loans made to GM (leverage), your statement is at best false.

Fighton03 on July 10, 2011 at 8:07 PM

LOL. So if it weren’t for BoA we would all be swapping chickens now? Next your gonna tell me that Trig really isn’t Sarah’s baby and Bush brought down the towers.

Socmodfiscon on July 10, 2011 at 7:59 PM

Yes, pretty much that’s what Bernanke and co were saying! Or perhaps you’d be stuffing bills into your mattress as the country faced 1000% inflation. At one point in the crisis, even McDonalds was complaining that it was having problems with bank funded cash flows for day to day operations.

I know, you assume that the banking system is unstoppable, a force of nature similar to wind or water. But its operation is actually predicated on a high degree of confidence and trust in its solvency. If the entire system collapses, there’s no guarantee that it can be fully restored.

bayam on July 10, 2011 at 8:07 PM

And when gas reaches $6 a gallon in a few years, Volt sales just might go up.

bayam on July 10, 2011 at 7:55 PM

Only if the Leaf, the Prius, and the Insight (last I heard it was returning to the market) are sold out.

Fighton03 on July 10, 2011 at 8:08 PM

There have been some. I tried making one on page 2 or 3. They’re just hard to find because you have to skip about 20 or 30 comments to get there.

INC on July 10, 2011 at 7:48 PM

Yes, I saw it and thank you. My comment was directed to the loons here who reacted with ” She’s stoopid”.
Bkless you and evryoe else who actually read her post.
Wait till she can comment on “Fast and Furious”.
It will be like the day we had the vet come in and geld the young studs in the stall. “Whack, thump, thump. whack, thump, thump.
Sorry guys, they were horses not you.

katy the mean old lady on July 10, 2011 at 8:09 PM

I guess if things had gone your way, the old GM management team would have been left in charge to continue their reign of incompetency. Your version of capitalism would have won and the US auto industry would be dead. But at least the Asians would be happy.

bayam on July 10, 2011 at 7:47 PM

Ask yourself why the Asian auto makers are doing OK but GM isn’t. That “reign of incompetency” involves — to paraphrase one former GM CEO — running a health care-benefits company with a money-losing auto making subsidiary. The UAW is strangling the US auto industry.

ddrintn on July 10, 2011 at 8:09 PM

I know, you assume that the banking system is unstoppable, a force of nature similar to wind or water. But its operation is actually predicated on a high degree of confidence and trust in its solvency. If the entire system collapses, there’s no guarantee that it can be fully restored.

bayam on July 10, 2011 at 8:07 PM

Welcome to fiat currency.

Fighton03 on July 10, 2011 at 8:10 PM

Considering that the treasury still owns 26% of GM stock (early june), and has a controlling interest in loans made to GM (leverage), your statement is at best false.

The government’s 26% stake is inadequate to force GM’s hand, as many of the company’s recent decisions, including one to abandon tax obligations, clearly demonstrate.

bayam on July 10, 2011 at 8:10 PM

Sorry guys, they were horses not you.

katy the mean old lady on July 10, 2011 at 8:09 PM

LMFAO!!! I had a mental picture of an MGySgt stepping into a room and ripping up a bunch trolls!

Fighton03 on July 10, 2011 at 8:13 PM

At one point in the crisis, even McDonalds was complaining that it was having problems with bank funded cash flows for day to day operations.

bayam on July 10, 2011 at 8:07 PM

WTF? When? Source Please…?

Tim_CA on July 10, 2011 at 8:13 PM

I would love it if people who criticize the way she looks post pictures of themselves.

idesign on July 10, 2011 at 6:50 PM

A little touchy are we? Good Lord, I make an observation that the Newsweek pic wasn’t her best, probably on purpose, and you go into a hissy fit. I keep forgetting that if a comment isn’t nothing but praise and beatification of SP, it’s criticism. You really need to get a grip.

TxAnn56 on July 10, 2011 at 8:14 PM

Somehow, just maybe, perhaps, teh Won does not strike me as having a sweet tooth. A crystalline tropane alkaloid more fits his symptions.

It’s Me

Caststeel on July 10, 2011 at 8:15 PM

The government’s 26% stake is inadequate to force GM’s hand, as many of the company’s recent decisions, including one to abandon tax obligations, clearly demonstrate.

bayam on July 10, 2011 at 8:10 PM

Is there any single shareholder with a greater stake?

Fighton03 on July 10, 2011 at 8:15 PM

And when gas reaches $6 a gallon in a few years, Volt sales just might go up.

bayam on July 10, 2011 at 7:55 PM

Why would Volt sales increase ? So the jobless masses living under the overpasses roasting potatoes can drive to where their Obam-annihilated workplaces used to be? Shanghai-Geithner Bank probably won’t approve the loans, anyway. So solly, roundeye, should have voted more carefurry in 2008.

viking01 on July 10, 2011 at 8:15 PM

Has to be the only Fat Crack Dealer in the world. They usually look like scarecrows.

Tim_CA on July 10, 2011 at 7:59 PM

She’s selling, not using. I can’t wait for the day she goes down.

katy the mean old lady on July 10, 2011 at 8:15 PM

I just read the whole article too, and I have to admit that I was shocked at how fair it was.

Naturally Curly on July 10, 2011 at 7:16 PM

Think that comes is because of what she states in the last 2 lines of the article:

“The mainstream press is becoming less and less relevant,” she said, adding that she would have no hesitation in shunning media outlets she does not trust.

“I would say no to those who have lied about me. There is no need to reward bad behavior. I’ve learned. You know, once bitten, twice shy. I have learned.”

People have criticized her for her battle with the press, but this fair article is the result of her strategy. This article is markedly different than the former one with the running shorts cover. They know that if they write crap about her, they lose her – and the spike in readership – for future articles.

miConsevative on July 10, 2011 at 8:21 PM

It requires a strong chief executive who has been entrusted with real authority in the past and has achieved a proven track record of positive measurable accomplishments. Leaders are expected to give good speeches, but leadership is so much more than oratory.

Anyone else detect a little bit of a sharp elbow thrown Bachmann’s way there?

ddrintn on July 10, 2011 at 8:22 PM

Obama Gives 10 day deadline on budget

Warning HuffPo link.

SOS Deja Vue all over again right on schedule.

Alinsky attempt from a totally weak position.

Caststeel on July 10, 2011 at 8:23 PM

miConsevative on July 10, 2011 at 8:21 PM

Profit motive baby….the most predictable force in nature.

Fighton03 on July 10, 2011 at 8:24 PM

Caststeel on July 10, 2011 at 8:23 PM

won’t ……click…..puffho….

Fighton03 on July 10, 2011 at 8:26 PM

At one point in the crisis, even McDonalds was complaining that it was having problems with bank funded cash flows for day to day operations.

bayam on July 10, 2011 at 8:07 PM

WTF? When? Source Please…?

Tim_CA on July 10, 2011 at 8:13 PM

Really, you didn’t know things were that bad? I didn’t save any link- I live in a major city and don’t recall if a friend in wholesale banking told me about that episode or if I read it online.

At one point, the crisis among banks was so deep that the Fed basically gave wholesale lenders an open line of credit, so that major corporations could obtain operating capital from an alternative source. At the time, this wasn’t widely reported because the Fed was focused on containing fear and panic that could lead to a run on banks.

http://www.reuters.com/article/2008/09/25/businesspro-us-markets-interbankbp-idUSTRE48O9B920080925

The other major calamity that almost broke the entire system was the very brief failure of money markets. Again, the Fed had to step in and prevent that arm of the financial sector from a complete collapse that would have certainly spread panic like wildfire through the rest of the system.

http://dailyreckoning.com/september-18-2008-edge-of-collapse/

It’s easy to forget how close the entire system came to failing.

bayam on July 10, 2011 at 8:27 PM

Has to be the only Fat Crack Dealer in the world. They usually look like scarecrows.

Tim_CA on July 10, 2011 at 7:59 PM

Zero in a straw hat and overalls… the perfect fit. Hillary igniting her broom and chasing him around with it. Now if the teleprompter could make Jug-ears sing “If I only had a brain” about his fake Harvard degree in Thinkology then Moochelle could tap her ruby slippers running shoes together and transport both their parasitic keisters back to Chicago.

viking01 on July 10, 2011 at 8:28 PM

katy the mean old lady on July 10, 2011 at 8:15 PM

OT:..Jetboy is on the Pawlenty thread..:)

Dire Straits on July 10, 2011 at 8:28 PM

It’s easy to forget how close the entire system came to failing.

Yes, they deserved to fail, and we let the bastards off the hook.

Emperor Norton on July 10, 2011 at 8:29 PM

bayam on July 10, 2011 at 7:01 PM

Still spew the same unsubstantiated class warfare talking points?
Since you still at that, why don’t try answering this question for once:

bayam on July 9, 2011 at 11:14 PM

Buffet, Gates, Zuckerberg, and most of the other great capitalists of our era want you to raise taxes on those earning over $1 mil per year, and give tax breaks to entrepreneurs.
bayam on July 9, 2011 at 10:07 PM

Too bad most of the time they are the same people – or would like to be.
How do you distinguish between them? Our wonderful geniuses in the feral government?

You do realize that when the looters Share in the Sacrifice of the Producers and achievers – those earning over $1 mil per year – that it hobbles the economy, as it’s doing now.

So you actually think that it’s intelligent to do that even more?

Or are you going to pretend that asking questions and debating the issues violates the site’s terms of service?

Chip on July 10, 2011 at 8:33 PM

LMFAO!!! I had a mental picture of an MGySgt stepping into a room and ripping up a bunch trolls!

Fighton03 on July 10, 2011 at 8:13 PM

Snort! You should have heard the fights about neutering the dogs. My theory? I don’t want my dog running in front of a truck while he’s led by his dick.
On the other hand, I’d threaten my classy old horse at least twice a day. More heart than I have ever seen. My late friend told me he was sold to upper Ontario to stand stud. I hope that happened. Anyone knowing offspring of the USS Hornet should get in touch.

katy the mean old lady on July 10, 2011 at 8:34 PM

bayam on July 10, 2011 at 8:27 PM

Both of your links refer to the same root cause. Yes, the “banking” system almost failed. There was not enough liquidity in the market to handle the needs brought about by the collapse of mortgage backed securities.

Fighton03 on July 10, 2011 at 8:36 PM

bayam on July 10, 2011 at 8:27 PM

Your links chronicle the pressure brought to bear from investor liquidity calls re: mutual funds, NOT operating income from the food service industry.

While I agree that the former was incredible to watch at the time, it certainly has nothing to do with the latter claim and it validates it not at all.

You make very large leaps in logic my friend…now you’re starting to sound like Chicken Little.

Tim_CA on July 10, 2011 at 8:36 PM

Tim_CA on July 10, 2011 at 8:36 PM

Careful, bayam will accuse you of violating HA’s TOS if you ask those tough questions that she can’t answer.

Chip on July 10, 2011 at 8:38 PM

2nd try on Huff Po

If this misses try Google.
This is AOL/HufPo propaganda

Caststeel on July 10, 2011 at 8:40 PM

Treasury Secretary Geithner admitted today that Keynesian economics has failed. And on Meet the Press, too!

Emperor Norton on July 10, 2011 at 8:40 PM

WTF? When? Source Please…?

Tim_CA on July 10, 2011 at 8:13 PM

Here’s the relevant quote from the Reuters article. It explains the crunch felt by McDonalds and every other major corporation that relied upon day to day bank financing. If not for direct Fed intervention, those funding problems might have forced McDonalds franchises to temporarily close (you would hope) their doors:

For the week ended September 24, the size of the U.S. commercial paper market, a vital source of short-term funding for daily operations at many companies, shrank by $61.0 billion to $1.702 trillion, the lowest level since early 2006 Federal Reserve data showed.

bayam on July 10, 2011 at 8:41 PM

Chip on July 10, 2011 at 8:38 PM

Yeah….that one tickled me!

Tim_CA on July 10, 2011 at 8:43 PM

katy the mean old lady on July 10, 2011 at 8:34 PM

Ummmm…was that the Horses name? :)

It hurt when I had to have my dog ‘fixed’ (no man can say the other word)….but not as much as it hurt him I’m sure.

But I had it done for a similar reason. People being people and not letting dogs be dogs. sigh. BTW,my dog had more heart than I’ve seen in most humans. I was too stupid to notice what he was telling me the morning he died.

Fighton03 on July 10, 2011 at 8:44 PM

Chip on July 10, 2011 at 8:38 PM

Yeah….that one tickled me!

Tim_CA on July 10, 2011 at 8:43 PM

+1

CW on July 10, 2011 at 8:46 PM

You make very large leaps in logic my friend…now you’re starting to sound like Chicken Little.

Tim_CA on July 10, 2011 at 8:36 PM

See my previous post- the commercial paper market shrank by over 95% which is how companies fund their daily operations. You don’t seem to realize how close the system came to collapse- the full article from 2008:

http://www.reuters.com/article/2008/09/25/businesspro-us-markets-interbankbp-idUSTRE48O9B920080925

bayam on July 10, 2011 at 8:47 PM

bayam on July 10, 2011 at 8:41 PM

And in your mind that translates to CASH problems at the operations level of McDonalds exactly how?

How Much of McDonalds Day to Day (Corporate not franchise – as franchise level cash flows would most likely be handled at local levels)are funded through commercial paper?

Are you saying that McDonalds (a multinational firm) has no Cash management Executives?

You jump on here and you make absolute bizarro claims – I’m an investor in McDonalds….I’m pretty clued in. NEVER have I heard what you’re claiming.

Tim_CA on July 10, 2011 at 8:49 PM

Or are you going to pretend that asking questions and debating the issues violates the site’s terms of service?

Chip on July 10, 2011 at 8:33 PM

Chip, you need professional help. I don’t want to have a conversation with you. You can stop posting threads from past days. I’m sure that you’re a brilliant man and can find other ways to entertain yourself.

bayam on July 10, 2011 at 8:50 PM

It looks like Sarah Palin’s Facebook post, is getting lots of play…

Palin warns Boehner on debt ceiling deal

http://thehill.com/blogs/on-the-money/budget/170585-palin-warns-boehner-on-debt-ceiling

idesign on July 10, 2011 at 8:50 PM

Tim_CA on July 10, 2011 at 8:36 PM

LOL….arguments don’t need to support each other in his world.

Fighton03 on July 10, 2011 at 8:53 PM

See my previous post- the commercial paper market shrank by over 95% which is how companies fund their daily operations.

bayam on July 10, 2011 at 8:47 PM

REALLY???? companies fuel their daily operations through lending?

OK doofenschmertz, as a business owner let me tell you how it is. If you are financing operations you’re going out of business. Let me put it a different way…if you are taking out loans to handle your daily obligations (operations) you’re going out of business.

How about another way, if you need loans to handle normal operational expenses you’re going out of business.

Fighton03 on July 10, 2011 at 8:58 PM

Chip, you need professional help. I don’t want to have a conversation with you.
bayam on July 10, 2011 at 8:50 PM

Time for the ban hammer.

Emperor Norton on July 10, 2011 at 8:59 PM

Time for the ban hammer.

Emperor Norton on July 10, 2011 at 8:59 PM

sorry emp..stupidity is not ban worthy.

Fighton03 on July 10, 2011 at 9:02 PM

People have criticized her for her battle with the press, but this fair article is the result of her strategy. This article is markedly different than the former one with the running shorts cover. They know that if they write crap about her, they lose her – and the spike in readership – for future articles.

miConsevative on July 10, 2011 at 8:21 PM

I don’t know if it’s a fluke or not, but I do think Newsweek knows who pays the bills(sometimes they remember). People waiting around airports or walking by a new stand might pick up the issue because she’s on the cover, then find out it was actually a fair article and will likely get the next issue with her on the cover based on that. And we know there will be many more Palin covers. It’s good business. Maybe they got a clue.

By the way the inside pic of her standing in the woods is great.

Dire Straits on July 10, 2011 at 8:28 PM

Hey Dire! That was a great facebook post, wasn’t it?

Dongemaharu on July 10, 2011 at 9:04 PM

You jump on here and you make absolute bizarro claims – I’m an investor in McDonalds….I’m pretty clued in. NEVER have I heard what you’re claiming.

Do you have any idea to what extent businesses require bank credit to fund their day to day operations? I have trouble believing that you have any serious understanding of business finance based on that statement.

If you don’t understand it, fine, but you don’t have to lash out.
http://www.crainsnewyork.com/article/20101201/FREE/101209981

Try to understand it in these terms- if McDonalds can’t pay its suppliers and employees, then the trucks that supply franchises stop arriving. Then franchises have to shut down.

bayam on July 10, 2011 at 9:05 PM

OK doofenschmertz, as a business owner let me tell you how it is…
How about another way, if you need loans to handle normal operational expenses you’re going out of business.

Fighton03 on July 10, 2011 at 8:58 P

M

You have a child-like understanding of corporate finance and the role of the commercial paper market. You might at least do a few Googles to save yourself from looking and sounds like a small-time idiot. Some of you geniuses wear me out.

bayam on July 10, 2011 at 9:08 PM

Time for the ban hammer.

Emperor Norton on July 10, 2011 at 8:59 PM

Fighton is right. banyan is just delusional. Don’t reply to that kinda troll. I’ll meet you another time, for pleasant conservation.

Caststeel on July 10, 2011 at 9:10 PM

aty the mean old lady on July 10, 2011 at 8:34 PM
Ummmm…was that the Horses name? :)

It hurt when I had to have my dog ‘fixed’ (no man can say the other word)….but not as much as it hurt him I’m sure.

But I had it done for a similar reason. People being people and not letting dogs be dogs. sigh. BTW,my dog had more heart than I’ve seen in most humans. I was too stupid to notice what he was telling me the morning he died.

Fighton03 on July 10, 2011 at 8:44 PM

YZup, that was his name. . How grand! He could have bee a world champion before dealing with the jerks who lamed him as a 2 yr, old. People used to make fun of me when I would take him to swim every day. Everyone hated him for being a brain dead azz. My job was to love him and my trainer’s’ job was to make the old buzzard go as well as he could.
AZll the laughing stopped the day he blew away the track record . WZe pranced while cooling out and accepted all apologies.
Sorry dudes, but it is a love letter to a great horse.

katy the mean old lady on July 10, 2011 at 9:15 PM

For the week ended September 24, the size of the U.S. commercial paper market, a vital source of short-term funding for daily operations at many companies, shrank by $61.0 billion to $1.702 trillion, the lowest level since early 2006 Federal Reserve data showed.

bayam on July 10, 2011 at 8:41 PM

And by 2010, the size of the CP market had shrunk to 1.036 trillion (1.415 trillion when asset-backed CP is included). What’s your point?

steebo77 on July 10, 2011 at 9:18 PM

Sorry dudes, but it is a love letter to a great horse.

katy the mean old lady on July 10, 2011 at 9:15 PM

No prob. I feel that way bout my dog.

Fighton03 on July 10, 2011 at 9:21 PM

For the week ended September 24, the size of the U.S. commercial paper market, a vital source of short-term funding for daily operations at many companies, shrank by $61.0 billion to $1.702 trillion, the lowest level since early 2006 Federal Reserve data showed.

bayam on July 10, 2011 at 8:41 PM

And the current size of the CP market is $1.231 trillion ($1.653 with ABCP). Again, your point?

steebo77 on July 10, 2011 at 9:27 PM

hmmmm

unseen on July 10, 2011 at 9:29 PM

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