Michael Vass becomes a Democrat

Well it's official now. I declare myself a Democrat. After a wee bit of drink and much deliberation I have converted to the political party of popularity.

Yes, I now affirm my belief in the political party responsible for the 13th and 14th Amendments. I too join the party that all African Americans have believed in since 1865. Like the South I too believe in the mantra of the Democrats.

I don't know how I held off following the lead of President Barack Obama. This is the leader that has lived up to every campain promise. I have sat back and had casual time to read each law for 5 days before he has signed them into law. I have luxuriated in the thought that every American soildier is returning from Iraq this year. I have beheld the decisive and exact nature of the economic plans he has put forth for the nation.

I can now join the most liberal of supporters, like Bill Ayers, in the thought that President Obama has created retro-active laws crushing private business. Truly the root of all evil, private business, has been defeated as the Government now can take control of any venture, and dictate the proper salary of every employee. And on the horizon is a health care system that the Government can dictate as efficiently as the Post Office.

Yes, I am part of the Party of Barney Frank and Chris Dodd. Congressional representatives so astute as to know they have approved laws and recommended investments that cannot be questioned by any American. I am part of the Party of Speaker Nancy Pelosi and Harry Reid, who have ensured that not one dime of my future earnings will be under my sloppy and independant control. Because only the Democrat Party truly understands the needs of the poor and those people of color, and other Americans.

Only in the Democrat Party are the needs of subservience understood. Because as a person of color, and an American, they know I cannot fathom the repercussions of deficits beyond the record of history. They know that the true definition of stimulus is social reform and not action. They know that I prefer to be fed fish rather than taught to fish.

Yes, today, April 1st 2009, I realize that listening to every socialized nation in the world warning of the economic perils facing our nation is folly and jealousy. I realize that having leaders that cannot pay their taxes as they expect me to do in droves is fair and equitable. That to expect those that would kill America under misbegotten beliefs to falter because of mere words is acceptable. That every nation in the world will love my country if we just do as they say is a mantra I must recite 24 times a day.

Only in America can I expect to have politicians determine my worth and pay. Only in America I should wish for the Government to determine my health plans. Only in America should I shun the soldiers that provide my freedom. Yes it is this kind of America that I now subnit my fealty to.

Because on April 1st 2009, the world is open to understanding. On this day North Korea will end it's plans to create a nuclear weapon. On this day China and the world will buy American debt like honey flowing down a river. On this day police will assume I am innocent of all crimes I never enacted as never before, and the justice system will punish all before them equally under the law. Yes this is a day to be heralded for years to come.

I no longer have the need to do math, since the Government will provide my income and balance my checkbook for me. I no longer need to care what contracts I create as the Government will decide which are lawful and those that are not. I no longer need to strive for success as the Government will mandate what I can sell and what is best for the world at large to buy.

The joy I now feel as a Democrat of far-left leaning is of immeasurable levels. Because I have a President that ignores the losses to my retirement funds, or my employees. There are untold numbers of rich that can be depleted to ensure my ability to live as the Government sees best. And I have no fear for my children as they will inherit a world of green energy and carbon-less emission once the techonolgy is created, if ever.

In fact those children will be free of the burden of marraige or children pf their own as they can freely abort any child at any age, and any stage of pregnancy. Even better, they will be able to engineer the look and intelligence of that child, if the Government does not do so for them in its infintie wisdom. And lest we wish to worry, every drug known to man will be accessible to beat down any thought of doubt.

Even better is the thought that now as a proponent of the Democrats, I will be able to sit back and watch programming that has been duely controled to be fair and balanced. I will no longer need to question the information provided to me, since the Government will ensure it passes muster. I will be ensured that the race to an ever lower common denominator will be matched by the number of channels providing such copied and flawed material. Material that I might add will be open to any viewer, regardless of age or mentality or content.

Oh, the exstacy that lies before me. Without the need for independant thought I can now toil away my days at a Government approved job, at Government approved wages, with an assurance of a Government approved retirement. Because President Obama, and Speaker Nancy Pelosi know far better what is needed than I. Even Rep. Barney Frank, with his dilegent eyes watching for any politically motivated question of impending peril, will protect my every move.

So on April 1st 2009, I join the Democrat Party. Because what else would anyone do on All Fool's Day?

Jon Stewart vs. Jim Cramer: really missing the point

So Jon Stewart took on Jim Cramer tonight. It was a beat down. It was vicious. It was obvious that Stewart had an ax to grind. And it was wrong on many points, yet true to the feelings of many.

As a former stockbroker I have had many discussions with people about the markets. I’ve written many things about the economy. And from time to time I have noted points in agreement and disagreement with Jim Cramer. But to attack him, and/or CNBC, as if they were the cause of the current economic crisis is both a fallacy and an attempt to find a scapegoat.

To be fair CNBC and Cramer failed in their mission to inform the public. Then again, neither ever truly were supposed to do that. Anyone thinking that either was more than an educated high-brow entertainment probably was sniffing glue (or some other like substance) and likely thought they would be made a millionaire by buying internet stocks they never heard of, or knew what they did, during the late 1990’s.

Is the market a fixed game? No. Is there an unfair advantage for large corporations and wealthy individuals? Absolutely. And are the major brokerage firms the biggest crooks in the industry? I’ve always believed so. Yet not one part of this, or what Stewart was railing about, is any different than it was 50 years ago for the most part.

What has changed is the greed and work done by small investors. If there is anyone to be upset with, it has to be that.

Jon Stewart will without doubt gain huge ratings. Jim Cramer may be looked at with harsh eyes in the near future. And CNBC will get the branding of slipshod reporting that they deserve. But it really doesn’t matter.

I don’t care how many regulations are created to prevent another Bernie Maddoff, or Enron, or Tyco, or AIG, and on an on. Given time there will be another scandal. And another ridiculous bubble in some sector of investing, with a crash that has to happen as well. Because the greed of everyone, at each level of the game, necessitates it.

I listened tonight as Stewart and Cramer went back and forth saying ‘You seemed to know’, ‘Did you know’, ‘Why weren’t we told’, ‘I was lied to’, and so on. Its wonderful posturing, but you don’t need to be an economist to have seen what was happening. Without following more than the politics of the day, occasional glances at the Dow Jones Index, and reading bits of news over the internet I foresaw the problems of the mortgage crisis. It was blatant, and there was plenty of time to act before the hammers started falling. And while I’m smart, I’m not so smart as to have been the only one to recognize what was going to happen.

Don’t believe me? Check out what I wrote back in October 2006

“The economy is better, things have improved. Barring events like 9/11, or Enron, the markets will continue to grow. But hype will never help mom & pop investors. It does help some institutions though, like LEH which was 15.68 around Feb 14, 2000 and continued HIGHER to 78.70 on Oct 16, 2006.

Just keep this stuff in mind as you watch the talking heads spout how great things are in the market. Or you see that ad saying that you should invest on your own.”

or on December 2007

“The fact that the mortgage crisis is far closer to its beginning than end. I expect that there are far more homes in danger than has been seen to date. Even with the highly selective mortgage bailout stated by President Bush, many are going to be at risk. Credit card debt can only float for so long. With the added pressure of oil at or above $100 per barrel, which I expect mid-January as I stated above, more will fail even if rates are lowered (less than 2 points).”

or even January 2008

“Those that are in trouble, or will be, with their mortgages will not be helped by lower rates as that will not cap increased heating and gasoline prices. Small businesses are not going to be able to get new loans as easily even with lower rates as financials scramble to find cash to absorb the losses they are experiencing. Effectively some degree of pain must happen and is not preventable.

I say all this for one reason. So that you my readers can be prepared. If I am correct even in part, then this nation will encounter times we have not seen for quite a while. I doubt that we will see the inflation and unemployment that existed in the 1970’s (when I was a child) but I am sure that we will see levels that those under 30 have never experienced.”

My point is that the current crisis was very visible, if anyone was not bothering to be distracted by hype from the likes of Representative Barney Frank and other Government “watchdogs”, or being entertained by CNBC. All you had to do was read and do the math. Investments are no different than your home, if you don’t keep up with it then don’t be surprised if it falls apart one day.

But there has to be a bad guy. In America we are conditioned to look out for someone in a black hat if something goes wrong. And today that guy gets to be Jim Cramer with Jon Stewart as our hero. Bull.

The bad guy is in equal parts the Government, for creating an environment over a decade ago that was little better than a Ponzi scheme. Then there are the corporations, that jumped in on the game looking to ride the wave for as much short-term profit as possible. Add to this mix speculators who looked for ever faster gains with commensurate risk. Throw in cable networks whose goal is ratings above reporting, and then put in a public that didn’t care as long as the paper investments looked better than the Jones’ 15 minutes ago.

And this complete recipe is virtually exactly what happened with the internet bubble, except this one was bigger and not quite as exhuberant. No one learned then, because no one cared. All that mattered was the immediate gratification being reported on our instantaneous communication devices. But the risk of instant gain is the environment we find ourselves in today.

It will happen again. No matter the regulations – because most of the factors that caused this meltdown were all legal if not bad business decisions which can’t be regulated. No matter the protests of Government – because their lack of understanding (or overall disdain) feeds these kinds of bubbles and crashes. Without regard to who reports what facts in whatever manner – because most don’t care or bother to pay attention to the details anyway. No matter the pain for the public – because everyone wants to be a millionaire tomorrow without doing the work required, and many believe they deserve such rewards just because they breathe air in America.

So the indignation of Jon Stewart amuses me. Yes, Cramer and CNBC could have done a better job of reporting. Yes, Congress could have done a far better job of enacting realistic regulations and understanding how those regulations are affecting the market. And a big YES, the public could have paid attention to the facts at hand and did some math. But none of them did these things. Nor do I believe they ever will, to any large or useful degree.

So I won’t score the big points with the blogosphere with this post. My past comments about the economy and markets went without much fanfare as well. Such is the fate of being right consistently. But let me ask you this…

Do you really want to feel smug and righteous because some comedian beat up on a quasi-entertainer/commentator, while politicians throw your future earnings down a drain and your retirement funds evaporate?

Do you know what the Government is doing with trillions of dollars, and how that will affect investments today and in 5 years – with even a slight bit of educated estimates?

Do you get to save your house, or retire, or pay for whatever any easier because a liberal leaning comdey show host got serious for a minute while you still don’t know how to read a corporate 10Q, understand why a second stimulus plan is already being worked out and how badly that will affect your savings and jobs, and re-elect Congressional leaders that can’t figure out their responsibilities even after 20+ years on the job?

I’m sure that many of my long-time readers do get all these things. Perhaps even more than a few of my first-time readers will. But for those that don’t, ignore the hype this one program will raise and start paying attention. Your money will depend on it.

I will now go back to the entertainment news Black Entertainment USA is normally dedicated to.