Farewell to the Wicked Witch of the West

Bye bye Pelosi. You will "speak" for the House no more. May a House drop on you on your way off the podium.

The Largest Tax Hike in History

Happy Friday - Now F*** You! (Love, the FedGov) - Part 1

120 Days to Go Until the Largest Tax Hikes in History

I'd just like to thank the idiot Democrats in Congress for making sure that the economy is stimulated by making sure that even more of what EVERY taxpayer makes goes not into their pockets, where it can support their family, but into Government, where it can be wasted by a bunch of chimpanzees with no impulse control.

From the article:

First Wave: Expiration of 2001 and 2003 Tax Relief

In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011:

Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:

- The 10% bracket rises to an expanded 15%

- The 25% bracket rises to 28%

- The 28% bracket rises to 31%

- The 33% bracket rises to 36%

- The 35% bracket rises to 39.6%

Get that? If you pay any Federal Income tax AT ALL, your taxes are going up. Remember the Idiot in Chief while he was campaigning?


That's called a bald-faced lie, and every one of you who voted for him is complicit in this travesty.

Then there is Pelosi:

So how do you square that Pelosi? You're a traitor and a liar.

Read the entire article linked above. Between Obamacare, expiration of the Bush Tax Cuts, the complete failure of Congress to address inflation with the Alternative Minimum Tax, upping it's draconian application from 2mil to 28mil families this year, the Federal Government is an epic train wreck. Great job CONgress, now **** off.

Social Security is 75, and it Needs to be Put Out of Its Misery

Social Security turns (turned?) 75 this week! Let's see what we have to show for it:

$0

Yup, that's right. That program that was supposed to be optional, 1% of your income, with funds held aside to guarantee that you'd be repaid, is broke. CONgress spent all of it - every last dime. Much like Madoff, as new funds are coming in from current payers, they're being immediately sent to folks who are payees, because those folks' money was spent by the Government to keep up the wonderful utopian mirage of Progressive Socialism.

And here we sit. Each paycheck I get has 7% taken out of it, with jailtime or summary execution by Federal SWAT team awaiting me if I refuse to pay it, and I know with absolutely certainty that I'll likely never see a dime of the money I'm paying into it. That 7%, which could be used to invest in an account I CONTROL, which could be kept safe from the idiots in Washington that think that they're entitled to EVERYTHING you own, is sent to a group of people that piss it away on such high-minded activities as funding cocaine addiction studies on monkeys.

Need some fun analysis? Try this article from the Market Ticker: Revoke Krugman's PhD

That so-called "trust fund" is a fraud. It does not exist.

Here's what actually happens (and Krugman knows this, which makes him a damned liar besides):

• Your tax dollars go to Treasury.
  
• Treasury keeps them and issues "special" Treasury bonds to the Social Security "trust fund."
  
• Treasury counts these tax receipts against the federal deficit, making it look (much, until the last year) smaller than it really is.
  

Note the slight-of-hand here. Social Security gets an alleged "bond" but they can't sell it to anyone but the Treasury. That is, legally it is an IOU, not a bond. A bond can be marketed in the open market to anyone who is willing to buy, for whatever they're willing to pay. These are unmarketable (intentionally) and thus can only be redeemed in one place - at Treasury.

The problem is that Treasury spent the money and thus doesn't have anything with which to redeem the IOUs!

So in order to redeem these alleged "bonds" Treasury will have to sell more bonds - this time to the general public (foreign governments, people, etc) who have actual capital surplus, because Treasury doesn't - it blew that surplus on social spending programs right here and now.

This is similar to you coming to me with $100,000 and I "promise" to hold on to it for you and keep it "safe." I give you a promissory note to this effect. But I never hold the funds - I immediately go blow them on hookers, coke and limousines. You now have a bunch of IOUs, and I have no money.

Now perhaps I can manage to sell someone else some bonds when you come to redeem those IOUs. Perhaps. But what is unmistakable and true is that the money you allegedly "deposited" with me was immediately dissipated, not invested, saved, held or secured.

This little scheme seems to work just fine provided that each year the Social Security system takes in more than it spends on benefits - that is, so long as the file cabinet full of IOUs continues to get bigger. Treasury gets the appearance of "Free Money", Social Security is able to pay benefits, nobody's the wiser.

But it's a scam, because in point of fact the so-called "Special Bonds" are nothing more than a bare promise to pay and the asset against which they were issued (tax receipts) was instantly dissipated!

The Baby Boomers are retiring, and there's nowhere near enough of us younger folks to keep this program solvent. "The Government will just cover the difference!" you say. Bull. We're currently spending $1.4 TRILLION MORE THAN WE MAKE. That is, the U.S. brings in around $2 trillion in revenues each year, and is currently spending $3.4 trillion. All of that money is coming in the form of a printing press from Treasury, or foreign investment - at the moment, Chinese funds.

"Well, the Government is aware of the problem and they're going to do something to fix it!" Wrong again. Check out this little gem (and it's a talking point for sure - I heard the exact same phrase from DemocRAT after DemocRAT on the news yesterday):

Social security at 75: don't mess with success (Rep. Sander Levin)

From that article:

Seventy-five years ago this month, President Roosevelt signed the Social Security Act. By any yardstick, Social Security has been the most successful domestic program in our nation's history, lifting millions of seniors out of poverty. Through good times and bad, American workers and their families have been able to rely on Social Security to provide guaranteed protection against the loss of earnings due to retirement, disability, or death.

This mental midget then goes forward with his talking point arguments of "had we allowed people to privatize Social Security and invest it in the stock market, they'd be broke right now". What tripe. Yes, the market goes up and down. Yes, you can lose money. However, Social Security pays around 1%. That doesn't even cover the massive inflation we have seen over the last 75 years, no where close. Having money in Social Security means you've LOST a significant portion of your "investment". I can get a better rate of return with that money in a Savings Account at a local bank that is insured by the FDIC.

Privatization doesn't mean you HAVE to invest your Social Security in risky equities, but it gives you the option of managing your OWN money. Personal accountability. Oops, can't have that - just let your betters in Government handle that for you - you can't be trusted with your own assets. Just give them to us so we can spend every last penny on bull$!@#.

It's far past time to stop this madness. Do away with the system. Every day Americans dump in good money after bad, and most of us will never see a dime. Robbing us to pay for the actions of politicians we were too young to even vote for isn't the answer - especially when we're all pretty sure that we won't ever see a dime of what we put in come back to us. How are we supposed to secure our retirement if we're told that we must pay for yours?

Body Mass Index - Now Required by Federal Government

Obesity Rating for Every American Must Be Included in Stimulus-Mandated Electronic Health Records, Says HHS

New federal regulations issued this week stipulate that the electronic health records--that all Americans are supposed to have by 2014 under the terms of the stimulus law that President Barack Obama signed last year--must record not only the traditional measures of height and weight, but also the Body Mass Index: a measure of obesity.

The obesity-rating regulation states that every American's electronic health record must: “Calculate body mass index. Automatically calculate and display body mass index (BMI) based on a patient’s height and weight.”

Lovely. Those of you who are serious about weight lifting take note - muscle weighs more than fat. It's possible that even though you are incredibly in shape, you'll be flagged as "obese". From a site with a BMI calculator:

Although BMI can be used for most men and women, it does have some limits:

* It may overestimate body fat in athletes and others who have a muscular build.
* It may underestimate body fat in older persons and others who have lost muscle.

The article also states that the health records will be available on the national exchange. Good luck getting insured (while there are still insurance companies other than the retards (and yes, I do mean retards Ms. Palin) in Washington.

Under the stimulus law, health care providers--including doctors and hospitals--must establish "meaningful use" of EHRs by 2014 in order to qualify for federal subsidies. After that, they will be subjected to penalties in the form of diminished Medicare and Medicaid payments for not establishing "meaningful use" of EHRs.

Doctors - this one is really simple. Stop accepting insurance. Stop accepting Medicare/Medicaid. Go back to directly seeing a local pool of patients who will pay you directly for your services. Drop your prices to something that will be in accordance with running a profitable and successful business, without being ripped off by the Feds and the Insurance Companies.

Screw the Washington Bureaucrats. Let them stew in the cesspool that is D.C, trying to get blood from the bankrupt stones that are many of the Liberal states, and lets get some 10th Amendment assertions and secessions going here folks. I'm tired of this crap.

Obamacare - A Synopsis of Fail by Karl Denninger

All of this is required reading. It passes the smell test (hell, it even passes the common sense test).

To put it succinctly, we're fucked.

Karl Denninger:

If Health Care Is A Human Right...

... then why is it that the Chinese who make all our cheap plastic trash that we allow to be imported here without tariffs don't get it?

And... shouldn't we impose tariffs that add up to the cost of said health care - a "Congressionally acceptable package" costing $15,000 a year per worker - to everything that is imported from China until they do?

After all, if it's a human right, it doesn't begin and end at our borders, right?

Just an inconvenient little question for Madame Pelosi....

Health Care: Arbitrage Obama And The Dems

It's Gonna Be Like Christmas! (Health Care)

That Didn't Take Long

Please read 'em all and understand just what the National Socialists have accomplished.

Australian Airport Staff Smuggling Drugs and Guns

Australian Airport Staff Smuggled Drugs, Guns for Crime Syndicates

A new federal parliamentary inquiry, into the adequacy of aviation and maritime security measures to combat serious and organized crime, has been told less than 1 percent of air cargo is physically examined and catering trucks are never searched.

But hey, don't you feel safer that you're put through highly personal pat downs, shoe x-rays, and naked scans? After all, YOU can't be trusted.

And a quick question for those who say "I don't care if a TSA Agent sees me naked, I have nothing to hide!" - Do you feel the same way about some sweaty, low-life male TSA Agent seeing naked scans of your teenage daughter?

Winter is Coming

Karl Denninger continues his treatise on the current Economy, and I have a hint for you, it's not "Green Shoots".

We have been given a gift - a six month (up to now) to couple-of-year (maybe) time frame in which to recognize the truth, break up these behemoth organizations, force the bad debt into the open, default it, make depositors whole and in doing so shrink place our economy on a trajectory where debt-to-gdp will shrink to a sustainable level.

If we fail to do so before the rope runs out - and it will - our economy will collapse. The Federal Government will be forced to contract spending to what it can raise via taxes in the current economic climate - about half of what it spends now. Given our budget and where we spend money, this means a near-complete repudiation of Social Security and Medicare, a 50% or more cut to the military budget, and an elimination of all other federal programs. Unemployment will rocket to north of 25%. Our "just in time" economy will break down and there will be widespread, perhaps even critical, shortages of necessities - food and fuel.

Read the rest here, and while you're at it, take a look at what else he has to say.

Don't believe Karl? How about a Nobel Prize winning Economist.

Stiglitz, former chief economist at the World Bank and member of the White House Council of Economic Advisers, said the world economy is “far from being out of the woods” even if it has pulled back from the precipice it teetered on after the collapse of Lehman.

“We’re going into an extended period of weak economy, of economic malaise,” Stiglitz said. The U.S. will “grow but not enough to offset the increase in the population,” he said, adding that “if workers do not have income, it’s very hard to see how the U.S. will generate the demand that the world economy needs.”

The Federal Reserve faces a “quandary” in ending its monetary stimulus programs because doing so may drive up the cost of borrowing for the U.S. government, he said.

“The question then is who is going to finance the U.S. government,” Stiglitz said.

Are all of our banks insolvent??

Karl Denninger wrote what I feel to be one of his best pieces yet on the current state of our finances, and managed to even extend the idea to tie into the state of Liberty itself in the country. He even managed to work in mention of the gentleman carrying the AR-15 I wrote about last night.

Please read here: Will It All Come Tumbling Down?

Consider his words, and how they should affect your daily actions and mindset.

Time to Celebrate?

Liberals complain over Obama concession

So it sounds like the Public Option might be gone from the ObamaCare bill. Time to celebrate???

HELL NO

What's still in there? Well, the Government will still be in charge of defining each and every plan - what's in 'em, how much they cost, who's eligible, etc. Those plans ARE STILL MANDATORY. Once anything changes in your contract with your current provider, you'll be forced to select one of the Government plans. Bye-bye health plan you like and have already - for good.

Even better, the IRS will DEMAND that you demonstrate that you are enrolled in an approved healthplan. Gone are the days where if you're young and decide to opt out of the whole thing. You can't prove to the IRS that you're in a plan? They fine the shit out of you and forcefully enroll you. Can't afford it? They don't care. Want the Liberty of choosing what you do with your healthcare? GONE

So what are the costs of these plans? Nobody can tell you. You'll find out 18 months after the bill becomes law. We do know that your taxes WILL go way up, Medicare will be cut to the bone (say good-bye to Grandma while you still can), and that the Government will do the same great job running it that they have with Social Security, Medicaid, Medicare, and the entire fucking country, which is now approaching $12 TRILLION in debt.

I wouldn't trust these idiots to mow my lawn, let alone tell me whom I may see and when if I get a serious illness.

Turn up the volume. I want to see ears bleed in Washington D.C. The only correct option is KILL THE BILL. ALL of it. Every last rotten, stinking, bleeding, oozing, liberty destroying Marxist line of it.

Remember...when *we* protest we're terrorists...

Analysis: Press Largely Ignored Incendiary Rhetoric at Bush Protest

Everyone repeat after me. Haranguing and assaulting people going to a fund raiser for President Bush is "Democracy in Action". Saying your peace at a Town Hall is "people committing political terrorism", or "paid operatives of the Health Insurance Industry".

Slashing tires and jumping on the hoods of cars is a spirited protest. Insisting that the doors remain open at a public Town Hall so that you can hear and being beaten by SEIU thugs for handing out Gadsden Flags is just desserts.

Stoning cars containing Government Staffers is "peaceable assembly". Explaining why you don't like the idea of Socializing Health Care is "racist".

Everyone got that?

Now shut up and get out of the way you bunch of worthless, badly dressed, no toothed, racist, rednecks. How dare you question the great and powerful Oz!

Personal Accountability

Or the lack thereof.

From TheHill.com comes this:

Majority Leader Harry Reid (D-Nev.), Majority Whip Dick Durbin (D-Ill.), Democratic Conference Vice Chairman Charles Schumer (D-N.Y.) and Conference Secretary Patty Murray (D-Wash.) also acknowledged that critics will "pour it on" during the coming August recess and they plan to respond in kind.

Reid said reporters created a fictitious deadline of a successful vote by the August recess, and downplayed the fact that the chamber won’t meet that mark.

“That is a deadline that you created,” Reid told a group of about 75 reporters. “It’s not like we don’t have a product. Significant progress has been made … The mere fact that this wasn't done by last Friday or by five o’clock doesn't mean we’re not going to get a quality product."
Emphasis mine

Really Mr. Reid? Obama and y'all didn't have anything to do with that so called "fictional" deadline?

Important statement at 7:15 if you don't want to listen to this bullshit for 9 minutes.

Your DemocRATs control the House, Senate, and White House Mr. Reid. Obama, Pelosi and yourself have been making public statements for weeks saying tripe to the effect of "it WILL pass". And yet it hasn't. Not yet. Your failure to live up to the deadline that you and your statist jackass friends set for yourselves is your failure and yours alone. At least be man enough to stand up and admit you blew it.

From Our "Rapidly Heating Earth" Comes This!

"This is probably just a perception, but I just have the feeling that the glaciers are melting, the snow capping the mountains is less than it was 12 years ago when I saw it last time," [Canadian Astronaut] Thrisk was quoted as saying. "That saddens me a little bit."

Reminds me of Al Gore, I think he invented space flight.

Meanwhile, in "real science" land:
3,000 Low Temp Records Set This July!

Of course, the above article comes complete with a bunch of giant disclaimers and "well, these outliers certainly don't represent any evidence of "Climate Change" (remember, now that people are starting to notice the Earth isn't actually warming, they're changing the lexicon to something even harder to quantify and disprove). Get past all that and take a look at what the numbers really are. I'm already hearing people coining the phrase "year without a summer". And this wouldn't be the first time that happened.

I still think man has great hubris to think that, short of seriously massive events such as large scale nuclear weapons usage, they can have any great and meaningful effect on the overall climatology of this planet. After all, we're competing with the sun, and large volcanic events, which themselves can singularly affect global temperatures by one and two degrees C. Remember, in geological history Alaska has been a tropical paradise, and glaciers have covered large portions of the planet.

What a mess.

Further Rumblings of the 10th...

I've said before that I firmly believe that the only way we're going to stem the tie of Statism in the Federal Government is by...well...Statism. Of the local kind of course.

Rick Perry has been making some fairly bold statements recently, including on the right of Texans to manufacture guns for use within its own borders without the BATFU having anything to say about it. That action, along with a 10th Amendment resolution (that likely had no teeth, yes, I know) unfortunately died in a filibuster at the end of the Texas session this year (along with a number of other bills I wasn't a fan of, so I'll call it par for the course). We are, however, still left with a potential wrecking shot from the cannon of ObamaCare.

Gov. Perry was interviewed by the Star Telegram today. Among other things, he said:

"I think you’ll hear states and governors standing up and saying 'no’ to this type of encroachment on the states with their healthcare," Perry said. "So my hope is that we never have to have that stand-up. But I’m certainly willing and ready for the fight if this administration continues to try to force their very expansive government philosophy down our collective throats." - Governor Rick Perry, TX

One of the problems with a strong Federalized system where the Rule of Law has been suspended is that a majority of looters can happily trample right over your Liberty, gleefully tearing the money out of your wallet, taking the roof from over your head, and the food out of your family's mouth on their way through. By keeping these types of programs managed locally, you can gain two immediate advantages:

1. It is far easier for the citizens of a State to affect how they are governed. Politicians are within driving distance, and deal with a smaller number of constituents, allowing them to be more responsive.


2. If you don't like the way your state is going, in a properly balanced system as envisioned by the Founders, you can always go to another state that is more in line with your beliefs.

All that aside, this is really a business opportunity. If one or more States were to secede and create an environment of Freedom and Opportunity such as envisioned by the Founders, I have a feeling we'd see an even more massive influx of businesses to this state. A lower tax environment, less oppressive regulations, and an already reasonable cost of living would make this a fine place to take up where The Republic of Texas left off so many years ago. Should the rest of the States United pass ObamaCare, Texas could become a haven for Doctors to continue providing the top notch care that currently brings people from all over the world to the US for treatment.

Allowing those Doctors to thrive by limiting their exposure due to tort abuses perpetrated in the current system, and therefore greatly lowering their costs could create a high-end health care haven that would bring millions in revenue to the state. Many higher-end Docs have already indicated they would move their practices to the Caribbean to flee the oppressive and draconian solution that is ObamaCare. Why not give them someplace closer and more stable to go instead?

This has the extra advantage of being reachable by a larger number of people who, while unable to go to the Caribbean for care due to costs, could easily load up the car and come down to Texas for top-notch treatment. The ability to actually get paid a reasonable wage would attract the talented Doctors and medical staff trapped in the USSA, and the ability to charge a rate that was dictated by the market rather than by a bunch of looter bureaucrats in Washington D.C. would attract medical research and development companies and their amazing new medical innovations - further increasing Texas' prestige as THE place to go for treatment.

I have come to the belief, as have many others in (or related to) the Threeper community, that the cause of Liberty and Freedom is lost to the entity known as the United States. Every year, rules are changed to allow more and more looters, those who don't pay taxes and therefore have no skin in the game (and no compunction against voting for people that will raise taxes), more and more agencies are created to enforce increasingly draconian regulations, and our "masters" become ever more violent in their attempt to cling to the "Authority" that those who should be our servants claim to hold over us. Illegal Immigrants will surely be given amnesty in the next year, resulting in an even further tip of the balances towards those who would loot rather than produce. The "minimum wage" will be raised ever higher, making it harder and harder for smaller businesses to pay their low-skill workers.

The only final recourse, short of "shooting the bastards" (is that Vanderboegh there?) is for one or more States to go their own way. This, unfortunately, will likely result in having to shoot the bastards anyways - we all saw how this type of activity went down in 1861.

Either way, secession or not, winter is coming. The darkness may fall when the final attempts to manipulate the economy fail epically, the "poor and oppressed masses" (read: looters) decide that it's not enough to slowly bleed the productive folks dry and decide to go after the golden egg with their own hands, or a foreign nation finally gets tired of buying our debt with an ever dwindling chance of ever getting their money back and demands payment in blood. Either way, something will break, it'll break big, and likely sooner rather than later.

Prepare and act accordingly.

Fed to Congress - We have no idea where that $500bil went...

Denninger's Market Ticker blog has an excellent excerpt from Bernanke's testimony today.

I'm heartened (just a tiny bit), to see that at least some of our Con's in gress are starting to ask the correct questions:

Listen and read here:Where Did the Money Go?

Government to continue to meddle in market...

GM bankruptcy plan eyes quick sale to gov't

Why do we even bother having a market any more? Why don't we just close all the businesses and let our new Overlords run the entire economy. They just keep ensuring that the Unions, with their unsecured debt, get a good crack at assets that should rightfully go to secured bond holders. It's outright theft.

A far better writeup than I can provide is at The Market Ticker.

Two Faced Lying Buggers

Your typical CONgress critters at work.

Those screaming loudest about the bonuses recently granted by AIG are those WHO ALLOWED IT TO HAPPEN!



A thanks to Mark Levin for pointing this out yesterday on his show. At least some of the media is being honest about what's really going on.

Obama's Global New Deal

Brown woos Obama on global deal

Boy, that Liberal stone just don't stop rollin' does it?

Let's see if I have all of this figured out. A $3tr budget, $400b worth of "keep the Gov running until September", what the hell...let's just throw money at the entire stinking planet!!!!

These people have truly lost their minds. By the time they get done, there isn't going to be a dollar left that they don't need to save the children.

I'm entirely sickened. I can't even believe that people that style themselves adults could, for a moment, actually take this rampant bullshit seriously.

If Government spending actually could create more wealth, why the hell hasn't all this rampant spending, by both the Republicans and the Spendocrats over the last 60 years actually done it????

I've said it before. You can't fool the markets. There is nobody who knows anything in the market that is fooled by the complete and utter bullshit coming out of our joke of a Government. This is readily apparent by the plunge we've taken since the mouthbreathers in this country elected that jackass. Don't give me that "it takes time" crap. If the markets actually believed these guys, we'd at least be holding relatively flat, or possibly seeing a small decline while the joke of a pork plan goes into effect. Instead, those with money continue to vote with their feet, by selling the crap out of anything they have, so as to avoid the final plunge when our leaders finally reach the tipping point and auger the economy into the ground at high speed.

Lets just keep letting the children run the candy store and see how long it takes for all of us to end up in the street, destitute and starving. At this rate, it won't be long.

Fraudsters Must Fail

AIG Seeks to Ease Its Bailout Terms

This is what we're dealing with folks. None of the stimulus, bailouts, Government backing, etc. is actually meant to improve our economy.

ALL OF IT, that's right, every last penny, is horse trading for favors, and ensuring powerful and well connected friends (however fraudulent) make out like bandits, all at your expense.

Essentially, the taxpayers are guaranteeing AIG's debts - that is, if AIG fails, we're on the hook for their notes. We, the United States Taxpayers, are ensuring that the credit rating isn't dropped on a company that is losing $60bil per quarter. And AIG is now indicating that they may not be able to survive under the current terms?

Are you kidding me? Our so called leaders have flat out lost their minds.

LET THEM FAIL This worthless crap is not what we have a Federal Government for. Get the hell out of my wallet.

A Spendulus Deal Has Been Reached

The result, screw the people.

I'm still trying to find the exact items that stayed in the compromise bill, but the following seemingly innocuous statement is scaring the hell out of me:

Health: The plan includes subsidies to allow people who are laid off to purchase health insurance through the federal COBRA plan. There is also money to support hospitals seeking to modernize health information technology.
Fox News

It sounds like the Orwellian crap I wrote about in "Rank Tyranny" is still in play. This means Federal Government control over what procedures your doctor is allowed to perform on you. That's right - healthcare rationing. A bureaucrat gets to make your life and death decisions.

I'll be keeping an eye out for a copy of the compromise, but at this point, we may be lost.

Someone Finally Speaks Sense

Treasury Secretary Timothy Geithner will unveil a long-awaited package of measures to help the financial sector at 11 am New York time.

But Rogers said Geithner, who was president of the New York Federal Reserve Bank, "has been dead wrong about everything for 15 years in a row," and so was President Barack Obama's economic advisor Lawrence Summers, who acted as Treasury Secretary at the turn of the century.

"It is mind-boggling to me," Rogers told "Squawk Box Europe."

"If I were on your show 15 weeks in a row and was wrong, you'd probably never invite me back. These guys have been wrong year after year after year consistently and here they are making the same mistakes again. This is not going to solve the problem, it's going to make it worse."

Jim Rogers lays it out in this article on CNBC.

Government can not create jobs, all they can do is spend money that you and I give them. The more they spend, the deeper in debt they get, the more money it will take to pay off that debt.

Look at it this way: Lets say I need to fix my car. I don't have the money, so I use my credit card. Not only do I have to pay back the original amount, but I now must work even harder to pay off the interest. Now imagine I make $50k per yer (for example), and I decide that I'm going to put $50k on my credit card. What do you think the chances are that I'll be able to pay that back?

Our entire income tax take in this country is about $1,000bn. We're already promising at least that with this farce of a stimulus package (only 12% of which will actually go towards stimulus according to the Wall Street Journal). How does it make sense that borrowing (or printing) all of that money will actually make anything better?

Just remember, we're trusting the guy who has been at the helm of the Fed (and is at least partially responsible for this mess) to get us out of it. When the drunk ship captain runs you aground, you don't give him another bottle of Jack and tell him to get you off the rocks.