Warning: Feds now foresee $30 trillion debt, blame looming tax hikes and Obamacare

Can’t just blame the liberals the GOPe has proven they are just as anti-American as any democrat

Arlin Report

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Banks Much Deeper in the Hole on Oil & Gas Collateral than they Pretend, by Wolf Richter

Gas is at $1.49 in Norfolk

Everyone is rejoicing – except me – I am bracing for the SHTF


They’re back…those mark-to-model valuations that make bank financial statements not worth the hundreds of pages they’re printed on. Last time it was mortgage securities and their derivatives. This time it has started in the oil patch, but rest assured, it will spread. From Wolf Richter at wolfstreet.com:

“All of it is in the gutter.”

An asset is ultimately worth what a buyer is willing and able to pay for it. That price turns out to be terribly low for oil and gas assets. This is a big problem for banks, which used these assets as collateral for energy loans they extended during boom years — a much bigger problem than suggested by the current spate of puny additions to loan loss reserves.

Natural gas driller Quicksilver Resources, which filed for Chapter 11 in March last year, sent an email to its remaining employees Friday night at 11 p.m. to announce…

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Carolina Panthers (NC/SC)


“Though most people may associate the Panthers with North Carolina because of the stadium’s location in Charlotte, owner Jerry Richardson made a point to make sure the team represented both N.C. and S.C. when he had the team logo designed. Hidden in the logo’s panther head is the shape of the two states’ merging borders. Richardson also had dirt brought to the stadium’s construction site from every county in both states!”

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6 Things You Probably Never Knew about Black Hawk Down

More than a movie/book but a political statement

The Tactical Hermit


The 2001 movie about the Battle of Mogadishu is a modern-day classic war movie.

The 2001 blockbuster “Black Hawk Down” is a favorite among service members and veterans alike. Depicting the 1993 raid to capture Mohamed Farah Aidid and subsequent Battle of Mogadishu, “Black Hawk Down” provided a pro-soldier narrative, a look into what happens when a mission goes wrong, and some straight up awesome action scenes.

Here are six things you didn’t know about Black Hawk Down.

“Only the dead have seen an end to war.”

The movie opens with a quote attributed to philosopher Plato. Gen. Douglas MacArthur first misquoted this phrase as being said by Plato, but it was actually written by George Santayana in his book, “The Life of Reason.”

Bonus: An earlier cut of the movie opened with a quote from poet T.S. Eliot, which said, “All our ignorance brings us closer to death.”


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