Late Evening News Reads for 080811: Money Don’t Matter Tonight…

Good later evening…

 

Prince: Money Don’t Matter 2 Night Lyrics

Songwriters: Prince Nelson

One more card and it’s 22 Unlucky for him again He never had respect for money it’s true That’s why he never wins

That’s why he never ever has enough To treat his lady right He just pushes her away in a huff And says, “Money don’t matter tonight”
Money don’t matter tonight It sure didn’t matter yesterday Just when you think you’ve got more than enough That’s when it all up and flies away

That’s when you find out that you’re better off Makin’ sure your soul’s alright ‘Cause money didn’t matter yesterday And it sure don’t matter tonight

Look, here’s a cool investment They’re tellin’ him he just can’t lose So he goes off and tries to find a partner But all he finds are users
All he finds are snakes in every color Every nationality and size Seems like the only thing he can do Is just roll his eyes, and say that
Money don’t matter tonight It sure didn’t matter yesterday Just when you think you’ve got more than enough That’s when it all up and flies away

That’s when you find out that you’re better off Makin’ sure your soul’s alright ‘Cause money didn’t matter yesterday And it sure don’t matter tonight

Ooh wee ooh, don’t matter It don’t matter tonight, no

Hey now, maybe we can find a good reason To send a child off to war So what if we’re controllin’ all the oil? Is it worth a child dying for?
If long life is what we all live for Then long life will come to pass Anything is better than the picture of the child In a cloud of gas and you think you got it bad

Money don’t matter tonight It sure didn’t matter yesterday Just when you think you’ve got more than enough That’s when it all up and flies away

That’s when you find out that you’re better off Makin’ sure your soul’s alright ‘Cause money didn’t matter yesterday And it sure don’t matter tonight

Money don’t matter tonight It sure didn’t matter yesterday Just when you think you’ve got more than enough That’s when it all up and flies away

That’s when you find out that you’re better off Makin’ sure your soul’s alright Money didn’t matter yesterday And it sure don’t matter tonight

I thought the best way to open this evening news threads was with this song by Prince and the New Power Generation, from Prince’s album Diamonds and Pearls.

Today the Dow took a big hit, down 635…

So tonight I have a few links for you on that, and a few links on some other things that happened today.

Feel free to click on those links, it all pretty much says the same thing…the global financial systems are reacting to the downgrade and the fact that we have a lame ass president in the White House.

Obama Says ‘Modest’ Changes to Entitlements Will Cut Deficit – Bloomberg

President Barack Obama told supporters tonight that the U.S. can tackle its long-term deficit with “modest adjustments” to entitlement programs such as Medicare and raising taxes on wealthy Americans.

“It’s not rocket science,” the president said to about 140 donors who paid $15,000 per family to attend a fundraising event at the Washington home of developer Donahue Peebles, chief executive officer of privately held Peebles Corp.

The president criticized congressional Republicans for being unwilling to compromise on reining in the deficit, saying they “just want to cut.”

The term “modest” does not give me any damn confidence…and as you can see, he is not talking to the ones who are going to feel these cuts…cause he does not give a shit about us.

The riots in London are continuing:  London riots: Riots spread in London – latimes.com

Looting and arson by gangs of youths spread Monday from poor northern districts of London to the south, to tourist areas of the capital and to Britain’s second-largest city as police flooded the streets and announced scores of new arrests.

London police appeal for calm after riots, looting

Prime Minister David Cameron and other senior officials broke off their vacations and returned to London to try to stem the worst outbreak of urban violence in Britain in a quarter-century. It started Saturday night after a peaceful protest over the police shooting of a 29-year-old man in an operation to control illegal firearms.

Some community leaders say the violence appears to also be a reaction to frustration over high unemployment and cutbacks in government services in mixed-race, low-income neighborhoods.

Some are saying it is just “those damn kids” and nothing more than youngsters being opportunistic and looting all they can.

Well, it seems to be spreading, guess we will see more violence tomorrow.

I wanted to post this little article from an Indian newspaper.  Crashed copter fell into Taliban trap: Afghan official – The Times of India

KABUL: The Taliban lured US forces into an elaborate trap to shoot down their helicopter , killing 30 American troops in the deadliest such incident of the war, an Afghan official said on Monday.

A total of 38 people – 30 US troops, many of them special forces, plus seven Afghan commandos and an interpreter – were killed when their Chinook came down during an anti-Taliban operation late Friday.

The helicopter crash marked the largest loss of life for Americans since the attacks on September 11, 2001.

The senior government official said on condition of anonymity that a Taliban commander, Qari Tahir, lured US forces to the scene by tipping them off that a Taliban meeting was taking place.

He also said four Pakistanis helped Tahir carry out the strike. “Now it’s confirmed that the helicopter was shot down and it was a trap that was set by a Taliban commander,” said the official , citing intelligence gathered from the area.

“The Taliban knew which route the helicopter would take,” he added.

Let us see what other information comes out as the weeks pass. This crash is so sad, and I feel for the families and friends of these soldiers.

I am going to end with this link from Reuters, the title says the same old thing like he has said before:

Obama says he inherited economic problems

President Barack Obama said on Monday he inherited much of the country’s problems with high debt and deficits when he entered the White House, sounding a theme likely to dominate his 2012 re-election campaign.

Speaking at a Democratic fundraiser, Obama also defended his economic record and noted that problems in Europe were affecting the United States.

“We do have a serious problem in terms of debt and deficit, and much of it I inherited,” Obama said. The financial crisis, he said, made the problem worse.

You know, I am too tired of this shit to even comment on it…but please, let me hear what you have to say below, and maybe it will get me going enough to tell you all what I think…but then again, y’all already know what I think…

Well, if I could not feel mad enough, I just saw this post that Boston Boomer  has written: Unnamed Hedge Fund or Investor Earned $10 Billion Betting on U.S. Downgrade « Sky Dancing

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6 Comments on “Late Evening News Reads for 080811: Money Don’t Matter Tonight…”

  1. Minkoff Minx says:

    Oh, and that Prince song came out in 1991…

    Maybe taking a long shower will help me wash some of this anger down the drain, cause I really don’t know what else to do!

  2. George W Bush, Bill Clinton, Ronald Reagan, and Jimmy Carter all inherited economic problems too… sadly, Bambi has managed to do even worse than Carter in dealing with them.

    • dakinikat says:

      Carter nearly balanced the budget and was responsible for appointing Volker who did get rid of the inflation problem created by Johnson and Nixon who had the fed monetize the debt rather than raise taxes. You may want to learn some economic history. Reagan just benefited from the relaxation of the tightening and high interest rates once inflation was dealt with.

      Additionally, there were different sources of those recessions. For example, Clinton just had a post war/conflict drop which just a little boost of AD takes care of … Carter/Ford had supply side shocks from oil price increases. Reagan’s recession was simply from tight monetary policy. This recession is due to a financial panic like we had in the Great Depression and in 1873. Those things take a decade to clear up and require massive amounts of government stimulus because the destruction of paper wealth in balance sheets suppresses aggregate demand for years. A recent paper showed they take up to 10 years to clear up. The Government could be doing a lot more but it’s unfair to compare this mess to anything but the Great Depression.