Democrats plan to nationalize your 401(k) plan

The other day I observed that seeing as how Democrat foolishness had screwed the mortgage market and allowed Cuba to grab vast oil reserves off our shores, what could they destroy next?

It turns out they weren't merely satisfied with trashing 401(k) retirement plans by destroying the financial markets through forcing banks to give mortgages to deadbeats in the name of affirmative action - now they want to confiscate the funds in the 401(k) accounts themselves. Oh yeah, they'll  invest the money in low-yield goverment bonds and give you an IOU, but not one you can pass intact to your heirs if you die of apoloexy over their thievery. Kind of like Social Security, eh?

Sounds sort of 3rd World-ish doesn't it? That's because it is - see Argentina spreads the wealth:

The country's mediagenic socialist president, Cristina Fernandez de Kirchner, announced Tuesday the state would "protect" private pensions from "policies of plunder" by proposing to hand them over to the government.

Praising her own scheme, she claimed Argentina would "set an example" for global financial crisis management by pulling $29.5 billion out of the private sector, and making it public.

As aghast as Argentines are about this, Americans should be too, because a Democratic supermajority in Congress would have similar ideas about nationalizing 401(k)s.

...

But, under the ruse of "protecting" Argentines from their own decisions, everyone will soon be forced into an involuntary pay-as-you-go program, like U.S. Social Security. Not only will the private assets be managed by bureaucrats, pension-holders will be paid what the government dictates.

With commodity prices falling sharply, the Argentine treasury strained for revenue, and the population aging, it's unlikely to be more than the $200 a month pensioners currently are paid. In fact, it's likely to be much less.

The assets are likely to be spent by government — not invested. It will save the government about $3.2 billion in interest payments since the government won't pay interest on $16 billion of government bonds in pension assets that it would own.

The Argentine Congress says it will ensure that assets are used for the pensions, but with money fungible and Argentine fiscal transparency weak, it's an easily skirted requirement.

...

Right now, markets see the pension grab as a sign of governmental insolvency following a 40% surge in spending this year in socialist redistribution schemes, and amid a political climate of blaming businesses.

"We believe that the actual motivation of the reform is to capture the flows of the private pension funds to cover the government's financing needs in the context of a severe credit crunch," said analyst Pablo Morra at Goldman Sachs Monday.

Because Argentina defaulted on $95 billion of sovereign debt in 2001, blaming its bondholders then unsatisfactorily settling its arrears, it's pretty well priced itself out of global capital markets. With $16 billion in bonds maturing in 2009 and 2010, and no new revenue in sight, the government seems to want that private pool of pension cash — $4.2 billion in contributions a year — to pay its bills and carry on as usual.

Sounds like a Barack Obama wet dream fer sure. All your money belongs to them. If you let them get away with it.

Obama says, "All your money are belong to us."

Ole Barry Obama has taken great care to pretend during the presidential campaign that he's just a mildly left of center politician when the reality is that he is a crazed radical from the fever swamps of American far-leftism and race-baiting black liberation theology. Dig the cool cat as he says that the Supreme Court should have confiscated the assets of those nasty white Americans and redistributed them. 

For a "professor" that taught constitutional law, it seems a tad extreme doesn't it? Naw, that's because Barack views the Constitution as "a fundamental flaw of this country that carries on to this day." I guess if he gets elected President and it comes time to take the oath of office he'll put his hands on his crotch like he does during the national anthem.

Mr. Obama's Neighborhood: Genocide Anyone?

Back in the day, Barack Obama's pal and business associate William Ayres planned to eliminate 25 million Americans who would not toe his totalitarian line. Since ole Bill is unrepentant, I wonder what the number is now? And since Barack Obama has been Bill Ayres' pupil and protege for years, I wonder how many Barack plans to eliminate? 

Oh wait, Barack yet again says he hung around with little Willie for years but never noticed he needed a checkup from the neck up. Do you ever wonder if there is anyone sane in Barack Obama's circle of chums and why Hussein fit in so well with them?

Today's Hoot: Further Evidence of Collapse in South Africa

I guess it's tough being a "chairperson". I especially like the worried look after the first cracking sound from the chair. (Hat tip: Andrew Bolt)

Barack Obama lies about gun rights too

Obama claims to support 2nd Amendment rights, but the funny thing is that he always comes down against gun owners and gun ownership. You don't think he is lying do ya?



Extra special is Obama's support for the Wilmette, Illinois self defense gun ban described in this video. In Obamaland you have no right to defend yourself.

We are all Joe the Plumber

We are all Joe the Plumber in the face of the Obama thugs.

Cuba gets oil, we get another hosing from the Democrats

Cuba Discovers Oil While Democrats Block Drilling:

Apparently, Cuba does not have all the environmentalist wackos to prevent it from drilling. Consequently, Cuba just found 20 billion barrels of oil off its shores in the Gulf of Mexico, and now plans to be one of the top 20 exporting countries in the world.

This story alone should disqualify the Democrats from being reelected. Had there not been a moratorium on drilling, that oil would have been ours. What is wrong with this Country? Cuba is literally drilling where we are not allowed to drill! Had we discovered 20 billion barrels overnight, the price of gasoline would drop to close to $2.00 per gallon, and OPEC would have less leverage because we would control our own supply.

From the source article:

...it puts Cuba's reserves on par with those of the US and into the world's top 20. Drilling is expected to start next year by Cuba's state oil company Cubapetroleo, or Cupet.

I'm not holding my breath waiting for all the professional ecoweenies in the Democrat party to chain themselves to the drilling platforms to prevent it. First home mortgages, now oil: is there anything the Donks can't screw up?

Barack Obama, the illegal aliens' pal

Ultraleft Democrats like Barack Obama just love giving a big welcome including driver's licenses to illegal aliens, because illegal aliens become clients for their socialist nostrums ("Care for a big mortgage loan? And how about some free health care?") and because due to so-called "motor voter" laws they automatically get signed up illegally to vote when they get a driver's license.



I guess we shouldn't think of them as illegal aliens; the Donks think of them as the solution to the US poverty shortage and an exotic import flavor of poverty to boot.

Today's Hoot: Michelle Obama's afternoon snack of lobster, caviar and champagne

Click to supersize.
Heard about Michelle Obama's little afternoon snack the other day?  Lobster, Iranian caviar, and Bollinger champagne to the tune of $447.39. Between that and her diamond jewelry collection and Jimmy Choo shoes, I'd say that Michelle isn't exactly low maintenance. Good thing Hussein has all those campaign contributors to help pay the freight.

I Am Joe

I have seen a lot of disgusting things in my time but the assault on "Joe the Plumber" for having the temerity to ask Barack Obama a not particularly tough question has to be the most appalling. Obama forgot for once to don his mask and revealed his intent to sieze and redistribute the modest wealth of hard working middle class taxpayers for his brand of socialist flummery.  The mainstream media and Obama's thugs are therefore attacking Joe Wurzelbacher in their fury that Obama stupidly spoiled the con he was working on the American people. I guess you have to be really, really careful what you say to Emperor Obama when he deigns to notice you.

Iowahawk says it better than I:

We've all witnessed a lot of insanity in American politics over the last few years. Up until the last few days, none of it has seriously bothered me; hey, just more grist for the satire mill. But after witnessing the media's blitzkreig on Joe 'the Plumber' Wurzelbacher, I can only muster anger, and no small amount of fear.

Politicians -- Sarah Palin, Bill Clinton, et al. --  obviously have to put up with some rude, nasty shit, but it's  right there in the jobs description. Joe the Plumber is different. He was a guy tossing a football with his kid in the front yard of his $125,000 house when a politician picked him out as a prop for a 30 second newsbite for the cable news cameras. Joe simply had the temerity to speak truth (or, if you prefer, an uninformed opinion) to power, for which the politico-media axis apparently determined that he must be humiliated, harassed, smashed, destroyed. The viciousness and glee with which they set about the task ought to concern anyone who still cares about citizen participation, and freedom of speech, and all that old crap they taught in Civics class before politics turned into Narrative Deathrace 3000, and Web 2.0 turned into Berlin 1932.0.

Godwin's Law! you say? if the jackboot fits, wear it.

I'd say the jackboot fits Obama and his Flying Monkeys and assorted ass kissers quite well. Anyhow, Iowahawk has the answer for all who are disgusted by this thuggery.

Display it proudly. Because we all are Joe.