Ace of Spades HQ

February 27, 2009

Gulp: Economy Shrank 6.2% Annualized in Last Quarter of 2008
— Ace

That's sharply up from the previous estimate of 3.8%.

A much sharper cutback in consumer spending which accounts for about 70 percent of economic activity along with a bigger drop in U.S. exports sales, and reductions in business spending and inventories all contributed to the largest revision on records dating to 1976.

Posted by: Ace at 10:42 AM | Comments (140)
Post contains 74 words, total size 1 kb.

1 I'm kind of past caring at this point.

Posted by: Joanna at February 27, 2009 10:44 AM (qBRUE)

2 Sheesh. What does anyone expect when the government and the entrenched media actively try to shovel the economy into the sh!tter for over a year straight...

Posted by: goy at February 27, 2009 10:46 AM (BCIGN)

3 1976? Jimmy Carter? This looks familiar.

Posted by: Eric at February 27, 2009 10:47 AM (MFvqO)

4 Not my problem.

Posted by: Dick Cheney's Cock at February 27, 2009 10:47 AM (4s1it)

5 2: It was a lot longer than just one year.

Posted by: ECM at February 27, 2009 10:49 AM (q3V+C)

6 In the end, there will be only chaos!

Posted by: Kratos (on the back of Gaia, scaling Mt. Olympus) at February 27, 2009 10:51 AM (9hSKh)

7 We're gonna need a bigger boat

Posted by: Brody at February 27, 2009 10:52 AM (wgLRl)

8 ECM, that's no lie. Remember the jobless recovery of 2002 - 2004. John Kerry bringing the misery index back. No one has had any money or anything to live for since GWB was selected to office. Finally there's hope. Obama's going to pay my mortgage, my gas, etc. I haven't been this happy since I got an X-Box for Christmas.

Posted by: sears poncho at February 27, 2009 10:53 AM (uj/0b)

9 I've lost my ability to care. Kind of like, Joanna. Everything is spinning so far out of the range where I can do anything about it I have to disengage a bit.

Posted by: mare at February 27, 2009 10:53 AM (X1fsj)

10 Well, that's certainly "Change".

Posted by: Naqamel at February 27, 2009 10:54 AM (UMwMT)

11 At this point I don't think anything changes until the guillotines get dusted off.

Posted by: ziske68 at February 27, 2009 10:56 AM (+4YMu)

12 You know what'll fix that fucker? A trillion-billionty more in taxes on the "rich".

Posted by: DelD at February 27, 2009 10:58 AM (HYdva)

13 And CPAC has the temerity to throw a jumbo shrimp cocktail eatin' big ass party while America suffers.

Posted by: Lefty McLefterson at February 27, 2009 10:58 AM (4s1it)

Dammit, I don't want to be poor! This is gonna suck big time.

Posted by: missg at February 27, 2009 11:00 AM (kT3gg)

15 Well, it's a good thing we are running up even more massive deficits and debt. That'll solve the problem!

Posted by: DrewM. at February 27, 2009 11:01 AM (hlYel)

7067.95

Posted by: ford at February 27, 2009 11:01 AM (Ki7fm)

17 You know what? Maybe I'll just immerse myself in the upper crust's social circles, find a nice young man who's got all his money already socked offshore, and marry rich and be done with it.

Nah. Feels too much like cheating.

Posted by: Joanna at February 27, 2009 11:02 AM (qBRUE)

12 year low

Posted by: ford at February 27, 2009 11:02 AM (Ki7fm)

19 Joanna..that's not cheating, that's planning for the future...Turn out the lights, if you have a problem.

Posted by: ford at February 27, 2009 11:03 AM (Ki7fm)

20 are we going below 7000 today?

Posted by: ford at February 27, 2009 11:04 AM (Ki7fm)

The brilliance of Keynsian economics at work!

At least when you kill the golden goose, you get really yummy gooseburgers.

It's funny that Obama's repeating the FDR plan: spend like a sailor and then tax the rich. The modern Democrat (cf. Clinton, plenty of Dem governors) does the opposite: Raise the taxes right away and then spend just before the election when the economy recovers from the tax increase.

I don't think the FDR plan will work electorally. Obama himself might survive, but Congressional Dems will not be so lucky.

Posted by: AmishDude at February 27, 2009 11:05 AM (T0NGe)

22 nope,

Monday could be interesting though.

Posted by: adamthemad at February 27, 2009 11:06 AM (kIjlp)

Arrhg.

Well, not that big a surprise. When everyone is told that doom is nigh they're going to clamp down on spending. Hopefully sentiment will improve soon... Savings rates are way up, so perhaps once people get a cushion built up they'll feel better about letting go of some cash.

OK - not very comforting - but I'm just trying to look for some ray of hope... I don't have a big enough asset pile (any more) to expatriate to a cheaper country. Gotta build that stash up again. On the up side, while I re-build my escape money I'll have time to learn Spanish.

Posted by: Reactionary at February 27, 2009 11:06 AM (H7yZC)

Nope, it looks like Monday will be the day. down 119 today to 7062...the Sunday shows will futher scare the crap out of investers...

why invest? the Dems are scalping for the next 4 years...

lay low.

Posted by: ford at February 27, 2009 11:06 AM (Ki7fm)

25 Pumping money into the hands of super under performers is the ultimate solution. Bambi believes that empowering the underclass; the alcoholics, drug addicts, lay-a-bouts, scumbags, scallywags, dweebs, nerds, dorks, snoods, and butt sniffers will cause the economy to rebound robustly. America is anxiously awaiting this transformational event, and just in case it ain't happening, lock and load boys and girls.

Posted by: Fish at February 27, 2009 11:08 AM (CG+cG)

Hey Joanna, how 'bout a nice middle aged guy who doesn't have money offshore but keeps some in his socks?

Posted by: teej at February 27, 2009 11:08 AM (QdUKm)

Don't learn spanish...learn how to live on the down low here instead.

Someone needs to start a blog about living on the down low..

Posted by: ford at February 27, 2009 11:09 AM (Ki7fm)

28 And Obama was occupyuing the Office Of President-Elect for most of that time.

Posted by: notropis at February 27, 2009 11:09 AM (1ucvq)

29 teej..you're not suppose to stuff your SOCKS...lol

Posted by: ford at February 27, 2009 11:10 AM (Ki7fm)

30 You know what'll help?

More government spending. And taxes on businesses.

Posted by: lorien1973 at February 27, 2009 11:10 AM (IhQuA)

31 Small consolation:

Europe's Crisis: Much Bigger Than Subprime, Worse Than U.S.
Article and Video (on autoplay, so turn down your damn speakers)

"But there is real risk of Europe dragging the world into a longer, darker night. Their banks not only have exposure to our US foibles, much of which has already been written off, but now many banks will have to contend with massive losses from emerging-market loans, which could be even larger than the losses stemming from US problems. Plus, they are more leveraged."

Posted by: adamthemad at February 27, 2009 11:10 AM (kIjlp)

32 Reactionary @ 23. That's just it isn't it. Isn't it supposed to be good to save? Fact is, the world's economy was built on the notion that us Merkins would buy anything and everything in site. Run on cocaine and 15 credit cards, keep that engine moving for the rest of the world. Now everyone is scared.

Posted by: sears poncho at February 27, 2009 11:12 AM (uj/0b)

33 This is what I was saying yesterday when I called the "one" a fucking numbnut. They are going to spend the money but the tax revenue increases will not materialize. They will bankrupt the country on a unnecessary all in bet. What the fuck is going to happen if we extend ourselves to the max and then get hit with a major disaster? Massive California earthquake anyone?

Posted by: dan in michigan at February 27, 2009 11:12 AM (88w67)

34 @30 You know what'll help?

More government spending. And taxes on businesses.

And don't forget lots and lots and lots more taxes on anyone who has any type of job, even if it's a little kid with a lemonade stand.

Remember, it's a small price to pay to make the world *love* us again and prove we.are.not.racist.

/sarc

Posted by: shibumi at February 27, 2009 11:13 AM (tZB/c)

But there is real risk of Europe dragging the world into a longer, darker night.

The third time is the charm.

Posted by: Circa (Insert Year Here) at February 27, 2009 11:13 AM (B+qrE)

36 Clearly the public's watchdog is out licking boots. PRAVDA needs replacing, completely.

This is not going to be pretty. Sort of like the Hudson landing gone bad.

Posted by: bill-tb at February 27, 2009 11:13 AM (7evkT)

37 Obama is a dangerous mix of inexperience and arrogance. Even a tanking stock market does not seem to give him a hint.

Posted by: IC at February 27, 2009 11:16 AM (jZNCU)

38 Fish -

I think you forgot Pencil neck geeks ...

http://www.youtube.com/watch?v=hzTysqw6_P8

Posted by: Adriane at February 27, 2009 11:18 AM (W7nzI)

39 This is good news.

Posted by: CPAC Mac Daddy at February 27, 2009 11:19 AM (n6bAw)

Ford - She wants someone with some money "socked" away. Besides this is between Joanna and me. Or at least me.

Posted by: teej at February 27, 2009 11:19 AM (c459z)

41 The reality is simple.

America (and the world) incentivizes the wrong things.

If you have a job, you are taxed. If you employ someone, you are taxed. If you earn a living, you are taxed. If you buy something, you are taxed. If you sell something, you are taxed.

But if you are unemployed you get free money. If you are a drug addict, you get free stuff. If you don't want to work, you get free stuff. If you fail to pay your mortgage, someone else will be forced to pay it for you. Same with medical bills.

The incentive system is totally backwards.

Posted by: lorien1973 at February 27, 2009 11:19 AM (IhQuA)

42 Where's Mr. Darcy when you need him?

Posted by: Joanna at February 27, 2009 11:19 AM (qBRUE)

43 Well, if Messiah hadn't been elected, the shrinkage may have been 10%. Be greatful, peons, Lord Obama has spoken!

Posted by: mitthrawnurdo at February 27, 2009 11:20 AM (9hSKh)

44 Reactionary: "Savings rates are way up, so perhaps once people get a cushion built up they'll feel better about letting go of some cash."

And then stagflation set in. Goodbye cushion, hello wooden slats with armor-piercing splinters.

Posted by: AnonymousDrivel at February 27, 2009 11:20 AM (swuwV)

45 7067.95
7062.93

Posted by: David in San Diego at February 27, 2009 11:22 AM (GF+6V)

#44,

Nope, that's when chaos sets in!

In the end, there will be only chaos!

Posted by: Kratos (on the back of Gaia, scaling Mt. Olympus) at February 27, 2009 11:23 AM (9hSKh)

47 Barack me, Amadeus!

Posted by: jdub at February 27, 2009 11:24 AM (t9pKb)

48 Here's the glide path according to Obama:

U.S. of Old -> Californification -> Western Europe -> Eastern Europe -> U.S. of Obama

His policies are not mistakes. They're a template.

Posted by: AnonymousDrivel at February 27, 2009 11:25 AM (swuwV)

He wants the markets to tank. He blames Bush for the failure and is able to attach all the tendrils of his marxist utopia.

Do you know what us God fearing America loving patriots are going to do? Nuthin, it seems.

Posted by: Toad at February 27, 2009 11:25 AM (kOQDM)

7062.93

Falling knife.

(ok, an exaggeration, but apt.)

Posted by: jdub at February 27, 2009 11:26 AM (t9pKb)

51 #43 Exceptionally accurate. It's only a matter of hours before his minions take to the airwaves to tell us the DOW would be at 3K if it was not for his ascension!

Posted by: Winston at February 27, 2009 11:27 AM (FggW0)

January 19, 2009--Dow Industrials 8281

February 27, 2009--Dow Industrials 7063

14.7 percent in a month. Change we can believe in.

Posted by: Circa (Insert Year Here) at February 27, 2009 11:29 AM (B+qrE)

53 The libtards and their complicit media got what they wanted, a recession, a BIG one! I can hardly wait for the fuel/food shortages and the rolling blackouts to start.

Posted by: Dan F at February 27, 2009 11:29 AM (TWBS3)

54 Jeez, it was at 7133 with four minutes left. ow.

Posted by: jdub at February 27, 2009 11:29 AM (t9pKb)

55
So does anyone believe the earlier report saying a recover will begin in 2010?

Ho can we start recovering while Obama keeps digging us deeper and deeper and debt and cripples industries with ridiculous regulations and taxes?

Posted by: Darling at February 27, 2009 11:30 AM (QjZO2)

56 "In the end, there will be only chaos!"

On the upside, at least we'll have a fighting chance. Organized servitude is much less appealing. I'll take chaos.

Posted by: AnonymousDrivel at February 27, 2009 11:30 AM (swuwV)

I can hardly wait for the fuel/food shortages and the rolling blackouts to start.

Me neither.

Posted by: Gaia at February 27, 2009 11:31 AM (t9pKb)

58 jdub...pay attention the market tanks in the last few minutes everyday as people take their profits, and dump.

Posted by: ford at February 27, 2009 11:31 AM (Ki7fm)

59 Is anyone tracking gun sales to the Dow?

Posted by: Jean at February 27, 2009 11:31 AM (L64A6)

60 Gaia...stock up. toiltet paper, water, wine, grains, canned goods, and lots of types of lentils. Things are as cheap as they are going to get right now...oh, coffee ,don't forget coffee.

Posted by: ford at February 27, 2009 11:33 AM (Ki7fm)

61 Question: When does a recession turn into a full blown depression?

Posted by: sears poncho at February 27, 2009 11:34 AM (uj/0b)

62 Jean...you are right ammo...don't forget ammo.

Posted by: ford at February 27, 2009 11:34 AM (Ki7fm)

63
I have to admit that I'm part of the problem. I've stopped spending money. My president has scared the shit out of me.

Posted by: Dang at February 27, 2009 11:34 AM (xhwOW)

64 Answer 6000.

Posted by: ford at February 27, 2009 11:34 AM (Ki7fm)

65 Dang don't despair shit is great fertilizer for all the produce you need to grow this summer.

Posted by: ford at February 27, 2009 11:35 AM (Ki7fm)

Answer 6000.

The New Optimism^tm

Posted by: Circa (Insert Year Here) at February 27, 2009 11:36 AM (B+qrE)

67 1) Increased taxes hurt incentive. period. Increase taxes on the most productive (the only ones paying taxes anymore) and they will earn less. You might get more money from them, because you increased taxes more than they decrease production, but their total production will go down. production goes down == economy shrinking That's not really open to discussion, it's just true. 2) Redistribution of wealth hurts efficiency. People spend their own money more efficiently than other people spend thier money. less efficiancy == less economic output == economy shrink. Again, this is not really controversial. It just is true.

Posted by: erik at February 27, 2009 11:37 AM (tyGSd)

jdub...pay attention the market tanks in the last few minutes everyday as people take their profits, and dump.

Duh. Long week. Brain won't work.

Posted by: jdub at February 27, 2009 11:37 AM (t9pKb)

No price is too high to assuage the guilt of white liberals.

Posted by: Warden at February 27, 2009 11:39 AM (QoR4a)

I'm pondering playing bookie for action on the market stopping trading on Monday.

Opening odds are only 2:1 against.

Posted by: Circa (Insert Year Here) at February 27, 2009 11:39 AM (B+qrE)

71 Obama's assumption is that everything will still be around to tax after all his 'stimuli.'
But the greater his stimuli, the sooner the word 'recession' is replaced by 'depression.' And the longer the depression lasts, the less is 'around.'

Posted by: Old Sailor at February 27, 2009 11:39 AM (/Ft4q)

72 ........and then depression sets in......

Posted by: John Winger at February 27, 2009 11:42 AM (H8orP)

73 I think we're looking at this the wrong way. You know when you're on a rollercoaster, the most boring part of the ride is when you're being cranked up the hill, right? So now all the cranking is done, the EXCITING part of the ride is next. Yippie!!

Posted by: Cautiously Pessimistic at February 27, 2009 11:42 AM (ltwze)

74 Fuck it.I'm going to DisneyWorld in May.

Posted by: steevy at February 27, 2009 11:45 AM (i9Fzk)

75 Also, I am tired of pundits saying that this cannot be pinned on Obama. The hell it can't. I have completely adjusted my economic strategy since the election. I am expecting busines taxes to go up, ergo I am out of stocks. I am expecting bond tax rates to go up, ergo I am out of bonds. I am expecting inflations (how else are they gonna pay for that spending but to print money?) ergo I am looking to get out of cash based investments. Am I stupid for doing these things? I don't think so. So far I have looked like a genius. Am I the only one doing these things? I don't think so. They seem to be conventional wisdom in economic circles. If a significant number of people do these things, (and really in only has to be a few percent) would we expect it to make the economy worse? Of course. My economic behavior would be very different if Obama were not president, or if here were acting in a more reasonable manner. So don't tell me it's not fair to blame him. Economies are based on predictions of the future. That's why free-markets work. People see a bleak future, they protect themselves and the economy shrinks. Big government types don't seem to get this. They think a committee can look at last years data and plan out the next. They think that they can do better than 200 million collective minds, each with local knowledge and expertise in their field of employment. Dammit I am feeling pissed. Is it drinking time yet?

Posted by: erik at February 27, 2009 11:47 AM (tyGSd)

76 Who are these fucking wizards who came up with 3.8% the first time only to correct themselves by 60%.? A chimp of no particuarly ethincity could have been more accurate.

Posted by: polynikes at February 27, 2009 11:50 AM (m2CN7)

Is it drinking time yet?

Way ahead of you, erik.

A little Glenlivet goes just so far, so I am using a great deal of Glenlivet.

Posted by: Circa (Insert Year Here) at February 27, 2009 11:50 AM (B+qrE)

78 The confiscatory Presidency.

Take away wealth: taxes and "stimulus"
Take away voice: "fairness" doctrine
Take away guns: weapons ban

Can everyone not see where this is going? Not to be alarmist, but this is pretty fucking alarming; and we assume that a pendulum naturally exists such that it can swing the other way - that some innate biofeedback mechanism exists just because we have parchment that implies we have God-given rights. Guess what? "God" can be removed from the equation along with the "Rights."

I wish the schadenfreude directed at Obamabots could be enjoyable, but we'll all go down together.

Posted by: AnonymousDrivel at February 27, 2009 11:51 AM (swuwV)

fuck it 7062 left to go.

bring the horror. i'm ready.

Posted by: unamerican hate mongering evil libertarian aka e.koenig at February 27, 2009 11:54 AM (2J+Vs)

80 And if you take away:

Wealth
Free speech
Guns

What do you have?

Slavery.

Posted by: Old Sailor at February 27, 2009 11:55 AM (/Ft4q)

81 And still, no one in the MSM is looking at his energy proposals as anything other than a great big happy green-jobs party. Cap and trade will certainly add to the interesting times. I've never liked the man, but if you would have told me what he'd be pushing in his first six weeks, I wouldn't have believed you.

Posted by: bunny boy at February 27, 2009 11:56 AM (YsSn7)

82 What do you have?

Blood, lots and lots of blood.

Posted by: the angel of death in a funny hat at February 27, 2009 11:56 AM (PD1tk)

"A chimp of no particuarly ethincity"

*points two fingers at his own eyes*
*points one finger at you*

Posted by: Al Sharpton at February 27, 2009 11:57 AM (5npD/)

84 Old Sailor:

"What do you have?

Slavery."

Heh. I loves me some irony. Thank you, Barack. And thank you, Old Sailor.

Posted by: AnonymousDrivel at February 27, 2009 11:58 AM (swuwV)

Cap and trade will certainly add to the interesting times.

I believe this will be his first defeat, actually. Too many crosscutting currents in Congress for him to overcome.

Posted by: Circa (Insert Year Here) at February 27, 2009 11:58 AM (B+qrE)

I wish the schadenfreude directed at Obamabots could be enjoyable, but we'll all go down together.

Just imagine that you're riding down a river of blood on a raft made of Obamabot corpses. It takes some of the sting out of it.

Posted by: Master Shake at February 27, 2009 11:59 AM (VmtE9)

87 "Just imagine that you're riding down a river of blood on a raft made of Obamabot corpses. It takes some of the sting out of it."

Ahh. That feels better.

Serenity NOW!

Posted by: AnonymousDrivel at February 27, 2009 12:02 PM (swuwV)

This can be blamed 100% on Obama. That's the way Keynsian economics is supposed to work. It fixes the problem right now. It's the future where we have to deal with the unfortunate consequences.

In fact, just the proposal of the stimulus should have stimulated the economy, before one red cent is spent.

Posted by: AmishDude at February 27, 2009 12:05 PM (T0NGe)

89 85 I hope...

Posted by: bunny boy at February 27, 2009 12:07 PM (YsSn7)

In fact, just the proposal of the stimulus should have stimulated the economy, before one red cent is spent.

Yeah, what we got here is mainly red ink.

Posted by: jdub at February 27, 2009 12:09 PM (t9pKb)

91 AmishDude @ 88 Come now, this is not a winning argument. You are just cheering on the economic collapse for political gain Sinceerely, The Republican Intelligentsia

Posted by: sears poncho at February 27, 2009 12:10 PM (uj/0b)

Obama math just keeps getting better and better...

Posted by: shoey at February 27, 2009 12:20 PM (IRh55)

#91

i like that one, funny and true

Posted by: shoey at February 27, 2009 12:21 PM (IRh55)

94 As if there aren't enough problems with the Porkulous and Spend solutions being offered to drive the US further and further into debt, there doesn't seem to be much room left if (or when) the US is hit by a terrorist attack of 911 or greater proportions.

The flock of liberal lemmings wants to ignore the reality that the Bush tax cuts really help propel us out of that economic dip. It may be their porkulous and spend approach to governing might even be a bigger hit on the US Economy than 911, particularly if the cap & trade, tax increases and universal health care reform proceeds as promised.

Pretty soon, it may get to the point I may have to grow some corn to have make some popcorn...

Posted by: drfredc at February 27, 2009 12:31 PM (ljMiA)

95 Barry owns it.

Posted by: jaleach at February 27, 2009 12:54 PM (gHrZU)

96 Personally, I'm looking forward to all the libtards being taxed into oblivion. Or losing their jobs. However, they might find their life is better on unemployment.

How long will it take for the blue chip execs to figure out that Obambi is going to be the death of their firms and their lifestyle? Will they ever figure it out? Or have they all just bet against America like Soros, and want the country to fail? Furthermore, what is the next industry that's going to be killed and/or assimilated by the Obama Collective?

"We are the U.S. Government. You will be assimilated."

Posted by: shibumi at February 27, 2009 01:06 PM (tZB/c)

97 Dammit, I was really hoping I might be able to get a job again someday.

Posted by: Kensington at February 27, 2009 01:18 PM (90mpl)

98 #97. I wish I could answer you. I think that America survived Carter & rebounded so I should stay put.

But then, I also think that Obama wants America to be remade in his image in ways Jimmuh never had the balls to implement, so guns and toilet paper is the way to go.

Most of my 401k is in Fidelity. I think they avoided most of the sub-prime toxic assets, but as the whole market goes under, so will they.

Apologize in advance for the uselessness of this comment.

Posted by: Adriane at February 27, 2009 01:18 PM (W7nzI)

99 As long as it's happening already, I can at least enjoy some Schadenfreude: my idiot brother voted for Obama because he was worried about his 401(k).

Taste the rainbow you stupid, sanctimonious bastard!

Posted by: Kensington at February 27, 2009 01:19 PM (90mpl)

100 #100. In the end times, I was working the phone for McCain & one caller in particular kept coming back to the TARP bailout.

I asked him, if it was better to vote in a man who already promised more bailouts or hope that the 1 bailout we had was enough?

I can only assume that he has answered his own question by now ...

Posted by: Adriane at February 27, 2009 01:24 PM (W7nzI)

101 It's a revision sharply down, not up.

Just a nit.

Posted by: Clavius at February 27, 2009 01:28 PM (ke0sf)

102

You know what would solve this? Outlaw math.

If people would stop actually doing the math for these plans the fall of the US would go much more smoothly. Obama has top people working on this, we should just trust their numbers and our problems are solved.

/sarc

Posted by: ParanoidInSeattle at February 27, 2009 01:29 PM (AJ4xq)

103

Japan had a terrifying Q4, down 13% annualized IIRC. S&P500 closed today below the 741 support. Fear is rampant.

I'm buying stocks.

Posted by: gp at February 27, 2009 01:29 PM (IoZrl)

104 #97 - My accountant has advised me to dump everything (with penalties). He did. I haven't. That's a tough question these days..... We have to sell our house this spring to boot! The wife is wrapping up school and has a job elsewhere. Good times.

Posted by: erik (there are 2 of us now, it seems) at February 27, 2009 01:44 PM (ugG2t)

105 #105. Ain't we lucky we got em?

... best of luck to you & your wife.

Posted by: Adriane at February 27, 2009 01:51 PM (W7nzI)

106 gp: "I'm buying stocks."

Surely they're attached to barrels, right?

Posted by: AnonymousDrivel at February 27, 2009 01:51 PM (swuwV)

107 Should I take out what's left of my 401 k, pay the penalty, and stick it under the mattress?

Today I got the paperwork from my plan administrator to do just that. I'm paying off my pickup, making it repo-proof. Just the knowledge that I have to think in those terms angers me beyond my considerable powers of description.

Luckily I bought a bottle of Gosling's black seal rum this afternoon. I wonder how much I can drink by the time How the Battlestar Turns comes on.

Posted by: NEPA Dissident at February 27, 2009 01:54 PM (Ohodx)

108 #11 ziske68 If the guillotines return: Ah! ça ira, ça ira, ça ira les aristocrates à la lanterne! Ah! ça ira, ça ira, ça ira les aristocrates on les pendra! Si on n les pend pas On les rompra Si on n les rompt pas On les brûlera. Ah! ça ira, ça ira, ça ira les aristocrates à la lanterne! Ah! ça ira, ça ira, ça ira les aristocrates on les pendra! However, for those of us here in the West, there is nothing so satisfying as a rope. Subotai Bahadur

Posted by: Subotai Bahadur at February 27, 2009 02:10 PM (G3EA2)

109 Okay, we have a 'hard' number now instead of a guesstimate. And that will mean what, other than a data point for future reference?

Posted by: GarandFan at February 27, 2009 02:11 PM (237hA)

110

#105 - Thanks (and back at ya)... But - lucky to have a wife, or house? Heh, both!

Surely they're attached to barrels, right?

I can't find an AR15 for the life of me. Everything is 'special order' now. Ammo is getting bad as well - although I went down that path last summer, thankfully.

I'm new to the concept of assembling my own - but I'm looking into uppers and lowers and all that good stuff.

Posted by: erik (there are 2 of us now, it seems) at February 27, 2009 02:17 PM (ugG2t)

111

Burn, baby, burn.

Posted by: hannitys_hybrid at February 27, 2009 02:23 PM (SqeY4)

112
We may all go down together, but rising on top of Obamabots' ashes is gonna feel sweet. Show no mercy.

Posted by: hannitys_hybrid at February 27, 2009 02:28 PM (SqeY4)

113 Aristocrats a la lanterene means hung from the lamposts.So they used rope too...probably when the chopper was unavailable for one reason or another.

Posted by: steevy at February 27, 2009 02:32 PM (OF4WB)

114 #111. um, er, oh boy ...

http://www.youtube.com/watch?v=E5Y8o9Bz2RE

Posted by: Adriane at February 27, 2009 02:37 PM (W7nzI)

115 I, too, am part of the problem. I still have my job, and even got a tiny raise this year. Of course, my retirement account has been devastated. Nevertheless, all of the money I had budgeted for clothing, dining out, wine, furniture, and entertainment is going to reduce the principal on the mortgage. Hopefully, we can get it paid off before Obama takes away our mortgage interest deduction. I'm very afraid right now, and Obama is the one who has scared me.

Posted by: ladylawyer at February 27, 2009 02:38 PM (lXdU5)

116 @80 And if you take away:

Wealth
Free speech
Guns

What do you have?

Slavery.

And we have come full circle. Black America will enslave a mostly willing white America. All to assuage liberal guilt.

/I hope they enjoy their new Black Overclass.

Posted by: shibumi at February 27, 2009 02:43 PM (tZB/c)

117 #115 - Oh man - awesome. The nuance (in a good way) escaped me. Thanks for the laugh. Now, I wonder if JJ can help out with that upper.

Posted by: erik (there are 2 of us now, it seems) at February 27, 2009 02:43 PM (ugG2t)

118 I for one welcome our new African overlords.

Posted by: steevy at February 27, 2009 02:51 PM (OF4WB)

119

lady lawyer..I'm' thinking I need to dump my rental properties and get the money to pay my house off too. Nothing is off the table for me..we have children, I am afraid, and I have worked my butt to not be in this position right now.

pissed. very pissed.

Posted by: ford at February 27, 2009 02:54 PM (Ki7fm)

120

GREAT BUMPER STICKERS FOR SALE tngop.org

HONK IF YOU'RE PAYING MY MORTGAGE.

Check it out I bought 3.

Posted by: ford at February 27, 2009 03:08 PM (Ki7fm)

121 By my accounting, I reckon President Obama has already saved 250 million jobs.

Posted by: Joey Plugs at February 27, 2009 03:10 PM (zfXmi)

122 You are right Joey..the bumper sticker business will be the new growth industry, and tea ..buy lots of tea.

Posted by: ford at February 27, 2009 03:22 PM (Ki7fm)

123 Democrats: The Ultimate Anti-Cowbell

Posted by: red speck at February 27, 2009 04:30 PM (/vfpn)

124 Oh, and wouldn't a business problem-solver type be a good president 'round about now? If only we had one of those as a candidate in '08. Oh, wait... we DID! Silly me. But he was a Mormon, and that's super-duper SCARY! The DOW looking down the barrel of 6000 is bad, but a guy who rode a bike around France in a white shirt 30 years ago? WICKED SCARY!

Posted by: red speck at February 27, 2009 04:36 PM (/vfpn)

125

As Clown from Spawn said:

'Cause this is how the world ends. Not with a bang but with a lot of blood and torn flesh and broken bones. And I just love it.

Posted by: Fa Cube Itches at February 27, 2009 05:07 PM (JexDm)

126 I survived the first round of layoffs today. Who knows what next month will bring. How many calories are in hope?

Posted by: Ostral B Heretic at February 27, 2009 05:32 PM (bB2sB)

127 this is working out just like I thought. I hope republicans give this asshole bho all the rope he wants to hang himself and the economy.This is like the slavery question was before the civil war. All the compromise and bi partisanship to get along finally came to an end and the shit hit the fan and the problem was solved. The shit will now hit the fan and it will be sink or change.This has to be an all or nothing outcome the end is on the horizon it will come in 10 years if this shit continues.

Posted by: pby at February 27, 2009 05:49 PM (oAoZT)

128 "But he was a Mormon, and that's super-duper SCARY!"

Not to mention he wasn't a super-duper uber-conservative with a 100% conservative record and he didn't walk around with an AR-15 slung over his shoulder and a copy of Atlas Shrugged in his MOLLE backpack, which made him, like McCain, a far worse alternative than the multi-trillion-dollar-spending, Palestinian-cock-sucking, Weathermen-befriending socialist fuck we have now.

Awesome logic. Bob Barr in 2012! Because if there's one thing this country needs, it's destructively futile displays of ideological petulance!

Posted by: Dave S. at February 27, 2009 06:01 PM (Ae/PN)

129 My wife has moved her 401k into a mutal fund option within the plan. She pays no tax penalty, but at least the money isn't tied to the market anymore. When inflation gets bad, we'll have to figure out a new strategy.

Posted by: adolfo_velasquez at February 27, 2009 07:40 PM (czRZm)

130 Oops, not mutual fund - money market. Her 401k has a money market option within the plan with guaranteed interest that beats losing money in Obama's depression.

Posted by: adolfo_velasquez at February 27, 2009 07:44 PM (czRZm)

131 #131. Thanks for the tip. I might be able to save the Rollover.

Posted by: Adriane at February 27, 2009 07:53 PM (W7nzI)

132 red speck @ #125

Not to mention a fellow who made a huge fortune as a turnaround artist, taking failing enterprises and making them efficient and profitable.

Truth be told, though, any of the Republican candidates (or probably even Hillary) would have been far better than Obama. His entire campaign was a tissue of lies designed to portray an extreme leftist as a mainstream moderate-liberal with a strong sense of fiscal responsibility. That there was absolutely nothing in his background to suggest any of it was remotely true - or that he even possessed a modicum of executive ability - was conveniently ignored by a fawning media.

Of course it all comes back to the voters, most of whom are products of thirty years of failed federal education policy.

Posted by: Adjoran at February 27, 2009 08:40 PM (PbKS0)

133
Truth be told, though, any of the Republican candidates (or probably even Hillary) would have been far better than Obama.

Amen to that. Ron fucking Paul would be a better President right now.

Posted by: Luca Brasi at February 27, 2009 09:20 PM (iwxwL)

134 nike shoes

Posted by: aaabs at February 28, 2009 02:36 AM (Oz1Ts)

135 Gee, now what could have caused consumer spending to drop far worse than economists would have expected? Could it have been a President that promotes "hope" by constantly talking about Economic Armageddon? Barak Obama... President of the Politics of Fear.

Posted by: CoolCzech at February 28, 2009 03:34 AM (iafWn)

136 Is it safe to fucking hate the shit out of Obamatard yet?

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Posted by: yujinxiang at March 25, 2009 10:21 PM (x6PsB)

139

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