Is there free checking for crackheads?

Ever wonder if your broker was smoking meth when he told you to invest? Well, he may have been. Or if not, he may just be laundering money for meth dealers. A Chicagoland bank was charged in laundering money for drug trafficking!

Hey, what's the interest on a meth laundered account? If it's higher than 6%, I'm switching banks! Hey, it's a bad economy out there. Follow the money.

Ass-urance on insurance

I'm going to stop the political posts for a while because they make me mental, but some things have been bothering me in the media lately and I need to vent. Even if only to myself and the few people who accidentally view the website looking for legit information that will help aid you in life, like Craigslist's Casual Encounters page or the Drinkers Against Mad Mothers website (BTW, this dude is going straight to hell.)

Anyhell, the U.S. is closer to a healthcare reform bill. Now, I haven't been keeping up with this healthcare debate because I purchase PPO plan through my work. Always have, always will...hate waiting to get permission from HMO's to go see a doctor when I want. So, the bill doesn't have an impact on me directly, other than possibly increasing the amount I pay because insurance companies will raise all rates to cover the fines and increase imposed on them by this bill. But, that's the insurance companies doing for screwing over average citizens, right? Not the government. Isn't the insurance companies who refuse to cover pre-existing conditions that might actually lower the likelihood of developing complex medical conditions that burden the reimbursement system? Yep. Isn't it the insurance companies that raise malpractice rates and force hospitals to up charges in order to cover? Uh huh. Rather than complaining about illegal aliens (BTW, there's a lot more uninsured Americans who receive free treatment in hospitals than illegals...it's called Medicare) ruining things, how about implementing a system that warrants having to provide ID in order to be covered under the public plan?

Nope, let's keep listening to the idiots out there who come up with clever campaigns like this poster:

And by idiots, I'm not talking about the GOP right. I'm talking the big insurance lobby that doesn't want the good times to end for their companies and be forced into competitive rate cuts!!!!

Economic WTF indicators

Now this is economics I can get behind. 10 Quirky Economic Indicators: These off beat barometers of the economy can give you much needed guidance for your portfolio or simply a good laugh.

Fleecing of America at the pump: shocker!

No, not a fun shocker. The kinda shocker that makes you realize how much Big Brother and Big Oil control how we function daily (travel, plastics, etc.). Yeah, gas prices still on the rise and no stopping them anytime soon.

Now you can be iCool for $99.00!

Apple announced it's the dropping the 3G iPhone price. How great, right? Eh, not so much. You see, they already have a better, sleeker, faster and more capable iPhone 3G-S waiting to hit the market, which will prompt current iPhone users to pay $199-$299 again. So, go ahead, be cool. Drop another wad of cash for a new phone and new apps (you don't think Apples going to let you transfer all of those between phones, do you?).

Ain't technology a kick in the pant?!

Keep ing up with the Jones' maybe wealthy

It's a said day when making six figures isn't considered wealthy. Inflation and the fleecing of America make it impossible to be comfortable for under six figures a year (and still put money away i savings). Sad. I try to stay grounded/realistic by remembering that my parents first living room furniture was lawn chairs.

Gas prices up just in time to screw our summer.

This past winter was horrible. Let's just admit it. We all feared being fired/laid off. Many friends and family have been laid off, have lost their homes, have had to go back to work and have had to scale back overall. Then there's the weather. Here in the Midwest, where you can expect rough weather, it was particularly bad this year. Snow every other day, no sun and below normal cold temps...like I said, worse than usual.

So, now that summer is approaching, you can tell people are trying to find some positive in their lives. Better weather, getting in shape, grilling outside, hanging out, maybe traveling. Happiness and health, right?! Well, you might want to pop another Prozac because big oil companies aren't ready for you to pick yourself up and enjoy life again...

Gas prices have increased dramatically in the past 2 weeks (leading up to Memorial Day).

On Thursday, a gallon of unleaded averaged $2.36. That's much cheaper than the $3.80 it cost this time last year, but prices are still up about 30 cents a gallon this month, enough to make drivers flinch.

I can personally attest that gas was $2.14 2 weeks ago and is now around $2.75, so that's a 1/3 increase, much larger than the "average." What I love about these articles that justify "it's only an extra $0.30 a gallon" aren't honest about the situation most Americans are in: the worst economy since the Great Depression and an extra $20 a month ($.30 x 16 gallon tank x 4 weeks, conservative if you consider most metro commutes) isn't a big deal. Honestly, that's $20 less being injected into the economy via shopping!

Gas is no exception. For much of this year, there has been a glut of gasoline in storage around the country, keeping prices low. And demand has been light because of the poor economy. But gasoline has jumped in May. Oil refineries, trying to make money just like any other business, are taking in less oil because of the glut in gas, and those cutbacks are showing up at the pump.

Correct me if I'm wrong, but aren't oil companies and refineries one of the few industries making profits these days? Aren't they having booming times? I must've missed the newspaper headline announcing Exxon, BP and Amaco layoffs...

The real reason for the recent gas hike? Big oil greed, as usual:

Investing momentum feeds on itself, and government data suggests speculative trades are on the rise, meaning people are buying in simply because they know they can sell for a quick profit. 'There's no lack of gasoline right now or the lack of ability to produce it, and anyone who says speculators are not playing a role in this run is delusional,' said Tom Kloza, publisher and chief oil analyst at the Oil Price Information Service. The same thing happened last year, to a much greater extent. Because when the Wall Street crisis struck and the economy tanked, oil prices collapsed. Gas fell to $1.61 by the end of the year.

Obama: git r done

Finally, some good news about the economy.

Many believe the economy could start growing again by summer or, more likely, by the final quarter of this year, as the impact of tax cuts and increased government spending on big public works projects contained in Obama's $787 billion stimulus package takes hold.

So much for Obama's first 100 days being mixed results. Kind of fitting his first 100 days saw major agendas (end of the war, Stimulus Plan, repairing international relations) for success drafted similar to the 100 days FDR drafted the New Deal.

Obama has signed more executive orders, memoranda and proclamations in his first 100 days than any president since Franklin Roosevelt. One notable order lifted former President George W. Bush's restrictions on federal funding for human embryonic stem cell research. Obama also spent more of those first months outside the country than any of his 43 predecessors, according to the American Presidency Project .

Why MBA's don't rule the world

Warren Buffett and Charles Munger made remarks at the Berkshire Hathaway Inc. shareholder meeting this past weekend. Most of it is the same armchair quarterbacking everyone is doing now with the economic crisis: stocks were over-valued, houses were over-valued, newspapers are dying, etc. Their remarks on investment knowledge/training/"expertise" I would like to highlight though, since I believe it to be true in my gut:

"There is so much that's false and nutty in modern investing practice and modern investment banking, that if you just reduced the nonsense, that's a goal you should reasonably hope for," Mr. Buffett said. Regarding complex calculations used to value purchases, he said: "If you need to use a computer or a calculator to make the calculation, you shouldn't buy it."

Said Mr. Munger: "Some of the worst business decisions I've ever seen are those with future projections and discounts back. It seems like the higher mathematics with more false precision should help you, but it doesn't. They teach that in business schools because, well, they've got to do something."

Mr. Buffett said: "If you stand up in front of a business class and say a bird in the hand is worth two in the bush, you won't get tenure....Higher mathematics my be dangerous and lead you down pathways that are better left untrod."

I took an introductory MBA course through work years ago and my impression of the course at the time was "WTF?" similar to Buffett's sentiment above. I'd taken Macro and Micro econ courses in the past, so it's not as if the course was foreign entirely, yet I felt out of place and not understanding the point of the charts and calculus being forced on me. I remember thinking, "And how is this going to better my career and make me more savvy?" I came to the conclusion it didn't and I left the course and didn't go back. I figured me arranging for my work to pay for the course was savvy and I would better my career by actually working past 5 PM instead of skipping over to class!

NOTE: I'm not wealthy (so I would need an $85,000 loan to get an MBA) and I'm not where I want to be in my career, but I have a decent job (with some security) and I can pay my bills. Which is more than can be said by a bunch of MBA grads who got canned working for companies that caused the economic collapse! Hope calculus and graphs help them in their interviews. Or help them designing new iPhone apps, the latest entrepreneurial craze (which is more about programming than anything).

The recession, banking and bailouts as seen on South Park

Can you tell I'm on a South Park kick? From the Season 13 episode titled, "Margaritaville."

No one is safe from layoffs.

Guess Darth heard they're cutting the contractors first? You hate to see this happen to a single father with 2 kids.

Now Firing!

AIG bonuses steal from the poor (taxpayer) gives to the rich

How better a reward for mismanaging funds than a bonus package for a job well-fucked?

The Daily Show With Jon StewartM - Th 11p / 10c

AIG Gives Bailout Money as Bonuses

Daily Show Full Episodes
Important Things w/ Demetri Martin

Political Humor
Jim Cramer

Guess I have to stop faking it.

Moving to the Midwest from the East Coast, for the most part, was for the better. The only major hang-up that has still been tough to get over: food. Don't get me wrong I love Chicago-style, deep dish pizza. However, I'd be lying if i didn't say I missed East Coast pizza: crispy-crusted, thin, flat, wide, triangles of burnt-bubbled cheesy heaven. Sbarro's, the mall pizza staple is the closest I've found to an East Coast slice (SIDENOTE: why does no one in the Chicagoland area sell pizza by the slice? It makes sense! yet, hard to find and the ones who do eventually stop or closedown.) OK, Sbarro's normally sucks, but if you have them put a plain cheese slice back in the over until the cheese browns and the crust crisps, I can fake it and pretend it's East Coast style. And it can only be faked with plain cheese. The toppings outside of the East Coast are not the same...there's no faking it.

Now I have this to crushing news to what little solace I had faking it: Sbarro's is in danger of losing their ovens. Nooooooo! Not that I'm surprised because, like I said, everywhere that sell slices goes under (it may make sense, but maybe it doesn't make money?), but I'll being limited in pizza choices once again.

If Sbarro's wants to make it, they need to stop selling their crappy pastas (I suspect their lasagna actually has rubber in the recipe...) and specialty salads. Oh, and try firing the 11 people that always seem to be working there. One person to make pizza, one person to cut/serve them on the plate and one person to do drinks and cash. It's paper plates, so you don't even need a dishwasher!

Today is a sad day.

Santelli: the CNBC angry dude other than Kramer

Here's a recent "Rant of the Year" video that's becoming a quick viral phenom on the net:

1. If this guy actually knew anything, he would know that giving Americans $8 a paycheck is a sound economic concept. When people receive large sums of money, they're more likely to save (which will not help stimulate the economy). Smaller amounts are usually spent quickly with expenses, which is what needs to happen with a stimulus plan: amp up spending!


2. From a street smart point of view: if your neighbor's house was on fire, would you let it burn or would you help stop it so the fire doesn't reach your house? Same principle here. Many of us still might be doing OK in this economy, but that doesn't mean there couldn't be tough times for EVERYONE in the future, especially if nothing is done now.

Brokers are such a-holes. Shut up and do another line of coke with your putana, guido!

How to secure your money!

While staying on the subject of the economy, I want to take a moment to show you how to protect your assets in this economy. Nothing is secure at this point and you may need to take matters in your own hands. Protect your family at all costs! For example, here's me and my wife practicing a drill for when looters kick in our front door to steal our money, flatscreens, and iPhones:

Take the kids, not our stuff!

Unemployment numbers in early 2009

It's still shocking to me how badly this economy is still spiraling down. I hope it doesn't ever hit levels as low as The Great Depression, but some of the key indicators are indicating it could be. Here's some latest U.S. numbers that will cause a great depression for you and me:

• the number of U.S. people receiving regular unemployment benefits rose 170,000 to 4.99 million for the week ending Feb. 7



• the claims figure also was significantly above the year-ago level of 2.77 million



• an additional 1.5 million people are receiving benefits under an extended unemployment compensation program approved by Congress last year, bringing the total number of people receiving unemployment benefits to 6.54 million for the week ending Feb. 7

Oil prices up, for no good reason

Just as I post about how no one is noticing the pump prices for gas creeping up again, ABC news has a blurb about it. You can check it out HERE. In a nutshell, their rationale is that prices have increased because oil production has decreased due to low demand. That may be true, but that doesn't make it right. God forbid oil companies NOT make billions in profit annually...even while the rest of the planet is suffering fiscally too. People are hurting financially and not driving as much, so oil companies raise prices?

Sounds like price gauging to me!

25 24 People to Blame for the Financial Crisis

Time magazine just released a list of 25 People to Blame for the economic collapse. One of the people on that list, former President Bill Clinton, just released a statement to reject the notion that he should be lumped in with men like former President George Bush, former Federal Reserve Chairman Alan Greenspan and the Countrywide CEO.

Visit msnbc.com for Breaking News, World News, and News about the Economy

Per the Time mag piece:

"President Clinton's tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years.

Clinton set the stage of excess by making the economy booming. Times were great! I think he deserves credit for that rather than blame for things that happened AFTER he was impeached (that he had no control over nor could foresee).

"Among his biggest strokes of free-wheeling capitalism was the Gramm-Leach-Bliley Act, which repealed the Glass-Steagall Act, a cornerstone of Depression-era regulation. He also signed the Commodity Futures Modernization Act, which exempted credit-default swaps from regulation."

This bill was never debated by the House or Senate. In substance, it appears that the leadership of the Republican-controlled Senate and House incorporated the deregulation of credit default swaps into an omnibus budget bill (without hearings or recorded votes)at a time when the outgoing president was in no position to veto anything.

In 1995 Clinton loosened housing rules by rewriting the Community Reinvestment Act, which put added pressure on banks to lend in low-income neighborhoods.

Because passing legislation to help lower-income Americans obtain the American dream home is such a bad concept. How could Clinton foresee that banks and mortgage companies would use such legislation to pimp suggest high risk ARM loans and second-tier loans to lower-educated lower income borrowers?

"It is the subject of heated political and scholarly debate whether any of these moves are to blame for our troubles, but they certainly played a role in creating a permissive lending environment."

2 of the bills referenced in this article were passed in December 2000: after Clinton's impeachment, during his lame duck period until Bush was sworn in and at a time when both houses of Congress were Republican majorities. So, how is he to blame exactly?

Anyone hungry for red herring? Get it straight: Clinton f*cked his intern, not the economy!

Getting jacked by big oil companies...AGAIN!

I know, way to state the obvious and there's no point being shocked. But still, I have to ask: why are oil prices going up at the pump if oil crude prices keep dropping? Can it be a more blatant example of price gauging? I think I'm more upset because no one complains until gas gets over $3.50 a gallon. Then, Americans start complaining about how they've had to cut back, can't drive places as much and have financial hardship because of their gas payments. Where are the outcries when the small, incremental increases are happening? The truth is no one cares notices until they're forced to.

When are people going to more of an emphasis on independence from oil?

• Public transit instead of driving


• Drink nalgene bottles with filtered water instead of bottled water


• Buy local products (cuts semi truck emissions)


• Recycle everything possible

Stop oil companies from stealing cash from your wallet. They're having record high profits while the rest of the modern world is getting crushed in a new economic depression.