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>There’s No More Money For Social Security or Anything Else

Dear DON,
From the very beginning of this crisis, we’ve told you that, while Washington’s bailouts could delay the inevitable, there’s no free lunch. The Day of Reckoning for Washington was near …
The day of reckoning for Washington’s borrowing binge — when investors cut down their buying of U.S. Treasury bonds, or worse, begin stampeding for the exits …
The day of reckoning for Washington’s printing presses — when the dollar sinks uncontrollably, and …
The day of reckoning for Washington’s bailouts — when the Federal government will inevitably have to turn its attention to saving its own neck, cut back on the bailouts, and let the U.S. economy and stock market go into free-fall.
Now it’s clear that Washington is nearing the end of its rope.
In fact, in his Friday interview with C-SPAN, when asked WHEN the government would run out of money, the president had no choice but to admit “We’re out of money NOW!”
Meanwhile, global investors are recoiling from the record-shattering tidal wave of U.S. government issues flooding the bond market.
Treasury prices are plunging. The U.S. dollar has fallen to a six-month low.
Worse: Higher interest rates are pure poison for an economy already on the ropes — the coup de gras that will transform the worst recession in a half century into a depression that rivals the 1930s.
Or, as I said in last month’s online briefing,

“When Treasury Secretary Geithner unleashes an avalanche of treasuries to fund these bailouts he’s posing as the ‘savior’ of the economy. But in reality, it’s like mercy-killing.
“He’s like ‘Dr. Death,’ Jack Kevorkian, administering the poison that kills the patient.”

Now, just as I warned, thanks to massive federal borrowing, interest rates are rising. The yield on the benchmark 10-year treasury is up by 57% (1.57 times its earlier level) this year alone … and headed much higher.
Look: It’s no secret that massive federal borrowing drives ALL interest rates higher. Nor can anyone deny that, with consumers already cutting purchases to the bone, higher interest rates mean corporate earnings will be crushed in the months ahead.
Huge treasury offerings also siphon hundreds of billions of dollars OUT of the corporate, state and municipal bond markets, starving companies and local governments for desperately needed money. That, in turn, makes a new wave of bankruptcies a near certainty throughout the rest of 2009, in 2010 and beyond.
It’s all about to make the crisis we’ve seen so far seem like a walk in the park.

>Sound Advice From Martin Weiss

>If government bailouts truly rescued companies, jobs and the economy, Washington might be able to argue that they worked.
But, unfortunately, despite all the money spent, lent and guaranteed, these companies are going bankrupt anyhow.
The prime example: After throwing billions at failed automakers last December, Chrysler is now just days away from bankruptcy, and General Motors could be close behind.
Under an agreement with the U.S. government, Chrysler must restructure its debt no later than next Friday or file for bankruptcy. But the company’s creditors are stubbornly refusing to accept stock in the failed company in lieu of payment.
Meanwhile, an eerily similar scene is being acted out at General Motors: Despite the $13.4 billion Washington gave the company last December, GM is now facing a June 1 deadline to restructure or to file for Chapter 11.
Think of it: In the next 37 days, it’s likely that not just one, but TWO of our nation’s largest companies … two of our largest employers … will go broke despite the biggest auto industry bailouts in history!
The lesson is clear …

These Bailouts Don’t Save Failed Companies.
But They Do BANKRUPT Our Children!

They just add dramatically to our debt burden for generations to come, prolonging the agony for all concerned.
This is why it is so important that you read The Ultimate Depression Survival Guide — and the sooner, the better.
At a critical time like this, I feel it is absolutely essential for you to have the clear, uncompromising unhedged truth about this crisis to avoid being taken in by Washington and Wall Street spin — AND to take full advantage of the many profit opportunities these markets offer us!
And this is also why I’ve made sure The Ultimate Depression Survival Guide won’t cost you a red cent.
Right now, you can buy all the copies of The Ultimate Depression Survival Guide you like for just $15.37 on — a $12.58 discount off the cover price. Or you can get it on Barnes & Noble, Books-A-Million and Borders, online or offline.
When you do, just tell us how many copies you purchased: We’ll immediately and automatically credit your account for $29.95 for each and every copy you buy!

>> When you buy additional copies for your family, friends and neighbors, you’ll be helping them get through this crisis in greater comfort and safety …
>> By purchasing and sending copies to your elected representatives, you’ll help us stop Washington’s worthless bailouts before they bankrupt future generations …
>> And, because I’m donating 100% of my royalties to The Campaign to End Child Homelessness, you’ll also be helping the most innocent victims of this crisis!

To take full advantage of your credit and to order The Ultimate Depression Survival Guide for yourself, your family, friends, neighbors and your elected representatives, simply click here.
Plus, after you’ve ordered, don’t forget to also sign our petition demanding that our leaders STOP these worthless, useless, pointless bailouts before they bankrupt our entire nation.

So far, nearly 30,000 taxpayers and investors have signed our petition — but your opportunity to add your voice to ours will end next week.

The reason: That’s when we will print these petitions and I will personally deliver them to our nation’s leaders in Washington D.C.
You still have time: Just click here to add your voice and to join this fight to preserve our children’s futures.
Look: It’s bad enough that hundreds of thousands of our fellow Americans are likely to lose their jobs when GM and Chrysler fail.
We can NOT allow Washington to add insult to injury by continuing to throw our money at companies that are going to go bust no matter what!