Nocturnal Warrior Monologue 9/23
By RobWarrior on September 24, 2008 at 12:40 PM in 1st Amendment, Current Affairs, Debates, Democratic Party, Democrats, Economy, Energy Policy, John McCain
(This is the opening monologue from Tuesday night’s Nocturnal Warrior show, heard 9:00 PM on No Quarter Radio. You can listen to the actual delivery of this monologue by clicking on the No Quarter Radio link on the lower right hand part of the page. Shortly after the monologue, the entire show falls apart thanks to technical issues, so if you like train wrecks, do listen. On the other hand you can just read this.
It is written for how I am going to speak it and thus follows no grammatical rules what so ever. Since I actually do bother to write it out, here it is. Actually, it’s just an easy way for me to come up with another post without doing any extra work. Typical radio person, I am.)
Blog casting live from a dead end, located somewhere on the fringe, this is No Quarter Radio…And I am your Nocturnal Warrior. Tuesday Night September 23rd. Only 6 more Tuesdays until Election Day.
What has been truly amazing about everything that has gone in since we started doing this program back in July, is how much the landscape can change in a single week. Every week seems like a lifetime in this year’s political cycle. You know how the last two minutes of a football game can take about an hour and a half to play. That’s what this election season has felt like since March. And the ebb and flow keeps changing.
When we got together last week, we knew that Lehmann Brothers had failed and were hearing that AIG would likely be bailed out. We had a sense that the economy was really in the crapper this time, but had no idea the extent of it all.
We still don’t know the extent of it all. But our government has been kind enough to send us a bill for all this. If you want to pick up the tab, it will set you back about 700 billion dollars. That is your government in action. They can sit there in Washington for 20 years and not come up with one solution to ease our dependence on foreign oil and fossil fuels, they can rubber stamp Bush administration policy on Iraq without ever offering a real alternative and bitch and moan about it on end, they can do nothing to protect your right to privacy, they can ignore the problems of illegal immigration. They can sit their and watch as homeowner after homeowner signs the dotted line on ridiculous loans that they can not afford and certainly do not understand…
But tell your government that Wall Street as we know it might collapse and they can come up with a price tag and a plan in about 48 hours. That is our federal government in action… And it’s not a Democratic issue and it’s not a Republican issue, because both parties have been swimming in the deep end of the Wall Street pool for a very, very long time.
But do you think 700 billion is the end of it all. Somehow I think not. There’s about 73 million homeowners in the United States. The average price of a home in this country is $230,000. Not of all these homes and mortgages have been purchased in the last five years. Heck, some people pay cash up front and others have owned their homes long enough to pay off their mortgages. Yet the estimates of mortgage debt in this country now stand at somewhere around 10 Trillion dollars. How the hell does that happen…and nobody says a word? I am no financial genius and I could not explain to you in the most rudimentary details how our markets work. But as a guy who occasionally balances a checkbook, can tell you that the math there doesn’t add up. How do you get to 10 trillion dollars of mortgage debt on 73 million homes with an average price of 230,000? How do you let that happen and not expect the end result we are in now? Some reports say there is all of 800 billion dollars in equity on that 10 trillion dollar debt.
And what is the response of our presidential candidates? They have a race to see who can create the most advertisements linking the other guy to Wall Street and mortgage money.
The first Presidential debate is Friday… And I am going to tell you right now who is going to get my vote. It is going to be the first candidate who admits that after taking another 700 billion dollars out of our economy that the government will not be able to function without raising taxes. John McCain is going to tell you that any kind of tax increase would be the worst thing to do for our economy. Barrack Obama will tell you that he wants to send you about $1,200 or what in the Obama house is known as two sets of earrings. He will also tell you that 95% of Americans will get a tax break from him and only those making more than $250,000 will see an increase. Folks, that is not going to replace $700 billion dollars, not to mention the deficit we already have, not to mention the rest of that 10 trillion dollars in mortgage debt that the government will now be essentially holding the paper on.
Be honest with me. Show me, the time for politics is over…And you get my vote… And since we know, that isn’t going to happen… I am still stuck voting present come Election Day.
SO HAPPY FOR A TRANSCRIPT!! I can’t get it together to ever listen to these and I suffer from FOMO (Fear of Missing Out). Thank you so much for thinking it out and posting.
lmao @ fomo
I get that! But I did catch the show last night finally!
Love having a place to go to hear mostly like minded people chat about the day’s events!
I feel safe to say MANY of us would LOSE IT if we didn’t have places like PUMA and NOQTR Radio shows to listen to…………… YAY!
Local PUMA turned McCain/Palin Group just sent me a link to phone bank if I want…………. not sure I’m gonna go that far until after the debates. Then we’ll see. But this lady informs me that if Bambi wins the election she will FLEE the country!!! Wow!
I remember saying that about BUSH in 04. Too bad I couldn’t afford to flee if I had to…
Fear is useless.
“this lady informs me that if Bambi wins the election she will FLEE the country!”
i am coming back from europe where i spent several months traveling…
many americans are looking to permanently relocate to lower-cost countries.
there are literally a few thousand doing this… this cannot be a good thing.
Thanks for the Transcript! I missed the broadcast because last night was Mr. Untilthelastdogdies birthday! It’s like cliff-notes for NQ Radio!!!!
ABC/WaPo poll that gives B0 such a lead oversampled AAs
for some strange reason
http://edgeoforever.wordpress.com/2008/09/24/oversampling-the-aas-wapoabc-poll/
Fox puts Oblahblah in the lead by 6 points. They seem happy too.
Actually, Fox hired an outside firm to do that poll for them and I read somewhere that they think there may have been sampling biases in there that would favor Obama.
As I’ve said a hundred times before, just watch the Gallup and Rasmussen tracking polls. They do it more than anyone else and their sample sizes are the largest. Both of them are showing Obama with a narrow lead that is within the margin for error.
Thanks, Duras.
Besides, national polling is irrelevant. It is the swing states that are going to decide this election. It’s all about the electoral college. The national polling is just more propaganda.
Happy Birthday! Glad we could oblige.
nocturnalwarriorshow@gmail.com
RobWarrior, sad to say that I disagree with you. In my opinion, a bail-out is necessary. Yes, I know that I will get cursed for that opinion. But thats what I feel. Yes, all the politicians are responsible for this mess (both parties). RobWarrior, McCain is not gonna raise taxes, and in all probability, Obama will (whatever he says). So you may lean towards Obama. But none of them is gonna outright say it.
I am not against a bail out. I am just skeptical of a plan that is thrown out there in about 48 hours.
To do this right, it would probably take some very smart people a couple of months to pore through the information and be able to make reasonable assumptions and create the proper modeling to see what the net effect of their actions would be.
I do believe that if we just let everything fail, then foreign investment capital dries up and our economy sinks and takes us all down with it.
However, there is no soft landing and there is a day of reckoning coming. We can only avoid that for so long.
I also believe some sort of bailout is necessary. It’s very hard to swallow considering that the Bush administration created the whole thing after coming into office with a large surplus and corporations that had been brought under control. I do believe the Democrats have taken advantage of the neocon corruption to serve themselves, which in my opinion is equally corrupt. I also think the bailout must have safeguards and checks and balances written into it.
I wonder if politics has become so low-down and corrupt in this country that it’s not possible to elect honest officials who will not do this stuff to us.
Sorry, but I’ve had it with blaming Democrats for Republican screw-ups.
When the Democrats screw up, everyone says “The Democrats screwed up.”
When the Republicans screw up, everyone says, “Both parties screwed up.” I can’t believe they’re still running this scam.
yes Perry, we all know that you hate the repubs.
Seriously, Perry … What planet do you live on?
the same scam the left is running Perry on abortion
it’s old
I’m hearing it from all my far left loonies now. They even sent a video of some woman going to the “mcCain women’s clinic” and asking for their list of birth control options and the lady hands her a piece of paper….. the girl looks it over and says, “but it’s blank?”
And the nurse says, exactly.
THAT is a BOLD FACE LIE! And they keep repeating it.
Over and over.
I’ve heard Sarah is pro- birth control
am I wrong people? I keep correcting the loonies on the left but they are just so positive they will lose all options!!!!
It’s NUCKIN FUTZ PERRY!
quit spewinig the SAME HORSESHIT IN EVERY THREAD SHIT FOR BRAINS. Don’t you have anything else to say?? Apparently NOT. The Democrats have proven they are just as dirty as the Republicans were in 2000 so GET OFF OF IT ALREADY.
Perry Logan….. You can`t have Hillary this time. Get over it for God`s sake.
But if you hate the repubs and you love the dems, are you voting Obama?
WTF, Perry?
I hate both parties, but I have to vote McCain.
Warrior,
You say that the candidate who acknowledges that a tax increase will be necessary to pay the bills is the one who will get your vote. You also rightly conjecture that such a moment of honesty isn’t “going to happen,” and that you will consequently be “stuck voting present come election day.”
I don’t know what it means to vote “present” on election day. We make our choices the best we can based on an overwhelming quantity of data. We are faced with the responsibility of processing all of the info to the best of our abilities to come to the best imperfect decision we can reach. As responsible citizens, voting “present” is not an option.
I have never shirked a vote in my life, however at this point I believe I am left with two unacceptable choices. In other words, I believe we are screwed either way.
Both of these candidates still have five weeks to make their case and push me off the fence. But, neither one has come close to doing it.
Well, NW, not voting is simply chickening out.
Now as for whom you should cast your vote, I’d ask myself these questions:
1) If I really do want to see a fundamental change in the way the public’s business is done in Washington, which candidate and his VP have proven by their actions, not just their words, that they are willing to take on established interests within their own party?
2) If there is a serious foreign policy crisis, which man do I believe has the toughness and the accumulated life experience to make the right decisions?
I think the answer to both questions is pretty clear.
so…doing nothing is better??
Hey, don’t beat up on RobWarrior. He is echoing a legitimate concern. calm dowm, folks.
I had to come to the voting McCain side, even though it is not the ideal choice for me. But, Obama is a fraud, egomaniac. Just becoming the nominee his ego soared in an embarrassing fashion with greek columns, removing American flags from airplanes, a special embroidered seat for his oplane, football stadiums. Can you imagine the ego inflating if he were to become POTUS? If this guy really cared about America or Americans, he would never need that fancy stuff. He’d say no to 6 million dollar greek stages and give that to the people. The Government needs 700 billion dollars and he is talking about cutting taxes and giving another stimulus check? Sorry, but if my checkbook is overdran already and I have a huge payment due, I not only don’t, but can’t spend some fun money on an arugula colored pair of earrings. The guy is so far into fantasyland there that I still cannot believe how low the bar has been set for nominees. If this is the best the democrats have got, well, count me out, out, out! The clincher though is to think that this is an ego maniac who wants what he wants and he wants it now and to hell with the poor people and the media doesn’t hold him accountable. If no one in the MSM or either party will hold him accountable now, do you really want a POTUS who gets a free pass for his term? I do not want to offend undecideds, but really I don’t understand anyone who is undecided by this time. How much do you have to see before you relaize that Obama equals the death of America? We will survive 4 years of McCain. Maybe it won’t be pleasant, but we will not survive the Obama party, especially in these troubling times.
if this is true that we are facing meltdown then either we do it and suck it up or any friends of you all who are reading this that make their living in construction,realestate,auto sales big ticket items,finacial sales or insurance will be the first people not able to make a living.then next the people you know who work at your local grocery,fast food,barber,or any of the other things we take for granted will be gone for if it isnt obvious to you all without credit being availible we are done.of course those of you in government might still get a check we will see.it disgusting to see both parties trying to make points when we are looking at the bottom of the cliff.
Unfortunately, we may have to suck this one up, so I agree. The jobs you mention are the “Main Street” part of the equation.
It still leaves a nation of people seething. I’m talking about those of us who have lost our promised pensions, can’t get ahead, and still see increasing premiums for our healthcare.
What a world!
You would almost think the LEFT created this to fall RIGHT WHEN IT DID to regain the lead.
When people like myself who are NOT financial guru’s with any idea which person is truly correct on the MONEY will do the ONLY thing we can and that’s judge what the LAST guy did and his GROUP to put us here.
MOST will go to it being all REPUGS fault. Not willing or even able to grasp the whole of the financial meltdown we will drop it to the easiest known common denominator and that is
The country had a surplus under the last Democratic President (no matter how it got there) and will conclude it will take another DEM to make it right. And they could be right but NOT THIS DEM!!!
Can’t tell them that though.
What a clusterfk. (pardon my french)
Reminds me of what Jesse Ventura said. The repubs are all credit, and the dems are cash and carry. neither worry about the deficit. lol. yes, RobWarrior, there had to be a more detailed study. But in my opinion, there was no time. The failure of all these huge firms, and their declaring bankruptcy would have swatted market sentiment, and depressed the economy further. Thats why this immediate bail-out is acceptable to me. All I require is adequate safe-guards for the bail-out.
Bailouts are the price we pay for tax cuts.
Obamagate:
http://www.youtube.com/watch?v=0qomPp_Y9Ps
wrong. both the parties are responsible for this. If you have read the earlier threads, McCain had spoken against this financial meltdown. so the blame belongs to both parties. I know that you have a viscereal hatred towards the repubs, perry. thats cool.
How exactly did Barack Obama pay for his Harvard Law School education?
The way the Obama campaign has answered the question was simply hard work and student loans, even though Obama’s financial disclosures found no trace of any outstanding college loans, going back to 2000. Michelle Obama contradicted this claim by saying that the couple had “only just” paid off their student loans after receiving book royalties paid out in 2005 and 2006.
But new questions have been raised about Obama’s student loans and Obama’s ties to a radical Muslim activist who reportedly was raising money for Obama’s Harvard studies during the years 1988 to 1991.
The allegations first surfaced in late March, when former Manhattan Borough president Percy Sutton told a New York cable channel that a former business partner who was “raising money” for Obama had approached him in 1988 to help Obama get into Harvard Law School.
http://www.theobamafile.com/ObamaLatest.htm
RobWarrior, as I described earlier,there had to be a more detailed study. But in my opinion, there was no time. The failure of all these huge firms, and their declaring bankruptcy would have swatted market sentiment, and depressed the economy further. Thats why this immediate bail-out is acceptable to me. All I require is adequate safe-guards for the bail-out.
The bailout was necessary, a recession is looming. I think safeguards and an bipartisan regulatory committee needs to be put together quickly but responsibly for oversight. CEO’s and Exec money should be frozen completely, no more pay, bonuses, perks-NOTHING. Then once they have it stabilized, start sending these assholes to PRISON. I can’t believe after what Enron did that these two giants did it too. I didn’t know such EVIL could exist in such great numbers in this world. All of this greed, corruption. And no one doing shit but actually playing along. McCain and a few others stood up and warned about an impending crisis. Hillary and Obama were not some of them.
New McCain ad: “The Coal Miner”
http://hotair.com/archives/2008/09/24/new-mccain-ad-the-coal-miner/
Breaking News!
McCain is temporarily suspending his campaign to return to DC and hammer-out the bail-out deal in the Senate.
Will Bzarky do the same???
Debate this Friday is in question.
MCCAIN SUSPENDS CAMPAIGN TO FIX ECONOMIC CRISIS - TUNE INTO FOX !
McCain taking action….. McCain is temporarily suspending his campaign to get back to work in DC on the economic crisis. McCain was being called the trillion dollar man and now takes the domestic issue by heading back to work. Nice play.
It was just announced on Fox. No other statement. Good move by him, better move to make no comment as a way of demonstrating this is not a campaign issue but an issue affecting the US taxpayer.
He has given notice the Friday debate may be cancelled for the same reason. I hope he does. Obama trotted Biden out today to try and put attention on Obama on Foreign Policy. It would eliminate that move by Obama.
McCain is taking CNN, MSNBC and Fox. Making political sacrifice to go back to Washington which isn’t popular right now. Challenges Obama… does Obama cave and follow or does he show he will do anything to win.
So, the doddering old man has twisted the One up by the knickers, again. Ha! Now I hope he comes out with a viable alternative to the “Quick, give an ex-CEO of Goldman Sachs of the Federal Reserve a blank check for $700B.” This isn’t a solution; it’s a shakedown. We will still be screwed after that money is spent. They should save their powder for keeping the real economy moving, not the derivatives.
You gotta hand it to McCain…he does some bold stuff!
He has put the ball in The Messiah’s court…
Break of serve!
If you look at the housing situation, I say the Dubya’s idea of “go out and spend” to be patriotic and keep the economy going, his promise of the “American Dream” for everyone while he got to spend on Iraq spurred this. The Dems dropped the ball, too, on not regulating the loans–allowing it to happen. I know that we were just reading here how O’s friends are all about sub-prime loans.
The fault lies in so many, many places. I just remember thinking clear back during the presidency of O’s hero Ronnie Reagan that he seemed to let the floodgates of greed open–It will trickle down, etc.
It just never seemed to me from that time on that anyone really had respect for balancing budgets. Yes, I know all about Bubba Clinton, and I like him for it. But I’m talking about Americans in general. Look at their average credit card debts, etc.
I know people who are furious because of their investments, etc. I guess I am fairly lucky, having no debt and no real stock market investments. My stuff if pretty safe at this point. I’ve never wanted much or spent much anyway.
I remember my poor parents, grandparents, and relatives. When I was in high school, we were asked to interview people about the Depression and what it was like living through it. All my poor relatives said, “We really didn’t notice the difference. We were always poor, pretty self sustaining (small farmers), etc. It was life as it always had been for us.”
McCAIN JUST SUSPENDED HIS CAMPAIGNE!!! ON FOX NOW!!!
Hey–Obama might have a shot after all.
Damn, I’m in shock. Has any other presidential candidate done this before? I have no idea. I don’t think so. Either he is a genius or he is nuts. I really dont know.
It’s sad, but in this country a politician cannot win promising to raise taxes. Bill Clinton ran on the platform of lowering middle income taxes. However, after entering office he actually raised middle income taxes.
I remember his famous words when talking to a group of workers, “some of you may think I raised your taxes to much, and I agree”. The media had a field day over those words but Bill Clinton balanced the budget and life was pretty good at that time.
However, I will admit the internet boom helped Bill at the time and at the end of his term, the boom was over and Bush was looking for a new way to stimulate the economy, so they started lowering the interest rate.
IMHO, Bush’s administration probably lowered the rate to much and with the Dems pushing to relax the qualifications for low income people to obtain loans, the market created a huge bubble.
The administration should have raised the rates as soon as they saw speculators flooding the housing markets causing low income people to have to pay more for a house than it was worth and more than they could afford.
I often wonder if this administration supported the economy artificially with the low rates in order to maintain support for the war.
McCain, is different from Bush and think he will do what’s best for all of us if he is elected president, but first he has to “get elected”.
Obama, frightens me with all his giveaways. I fear another Carter type administration. Carter years, for me were terrible with his exorbitant interest rates, freeze on wages, gas shortages, weak military ect.
IMHO, if Obama wins we are on our way to socialism and the more government is in your business the more freedom you lose. Freedom is something that Americans have valued more than life it’s self.
I pray that we don’t get so caught up in the desire to be “liked” by Europeans & other countries, that we are willing to give up our way of life, lose our identity as Americans and become European-ized.
Still waiting for Obama’s statement…
I’d LOVE to be there to watch them craft it…
I think there’s a little turmoil in Obamaland today!
Mr McCain just pulled the kind of move that could get me off the fence. Now, of course I am not naive and know this is pure politics, but if he does something with this opportunity and shows that he not only has a grasp of the situation, but works towards a truly equitable resolution to this mess and then maybe I won’t have to vote present afterall.
True leadership on this would go a long way to compensating for the many other difference I have with him.
Yep, he must have watched Lou Dobbs last night. Lou, was screaming mad last night and called for both candidates to get back to Washington and deal with this crises. I’ll bet Lou is patting himself on the back right now.
“How do you get to 10 trillion dollars of mortgage debt on 73 million homes with an average price of 230,000? How do you let that happen and not expect the end result we are in now? Some reports say there is all of 800 billion dollars in equity on that 10 trillion dollar debt.”
NW, you said that we have 73 million homes at an average of $230K per. That comes out to $16.8 trillion. With ‘only’ $10 Trillion in mortgage debt, that implies a lot more equity than a mere $850 billion, or at least, the existence of other factors not mentioned in the excerpt above.
Obviously a percentage of the 73 million homes don’t have a mortgage, so their entire value would not show up in an accounting of the equity in the homes with mortgages, but is it really as high as 40% of the 73 million homes? Another factor is the the percentage of new 1st-time home buyers, and the fact that so many of these mortgages were done with little or no real money down, and the percentage of long-time mortgages that have been ‘reset to zero’ by refinancing.
But your question above doesn’t quite make sense. How is it bad that we have a lot of people buying homes. It isn’t, in itself.
IF the buyers can afford what they buy. IF they are signing up for something they understand (people used to ALWAYS take a lawyer to a mortgage signing). IF we have the banking system to handle it… and that turns out to be a big one. In 2004, the SEC began permitting the biggest 5 banks in NY to go from 12:1 leveraging to as high as 30:1 and 40:1. Three of these 5 banks have already bit the dust, in a manner of speaking. Were these rules changed primarily to facilitate the concept that ‘everyone should own their own home’? Another big IF is the question of to what degree did government encourage loaning to those not really able or ready to pay back a mortgage for social engineering purposes, all the while promising to take care of the bankers if anything bad happened?
In some cases, BAD regulation, not LACK of regulation is causing bankruptcies. There are some accounting rules that are forcing some solvent financial firms to go into bankruptcy. That needs to be changed immediately. But don’t hold your breath waiting for Chris Dodd to do anything about it unless and until Obama wins.
The sub prime lenders gave out NINJA loans (no income no job no assets). Now really, is there any wonder why we are in this mess? Who’s fault is it? “Everyone’s” the government, the lenders, the greedy speculators, and yes some of the people that took the loans knowing it was more than they could afford. People that took second mortgages on their homes to buy cars and go on vacations.
It pisses me off that now, the rest of us are expected to bail them out or risk our own savings or even a depression.