July 11, 2008 11:43AM

The Collapse of the Stock Market and Economy Are Clearly David Tice’s Fault Because He Wrote About Bad Stuff That Might Happen

By Cody Willard

Let’s just do a quick run through of the NY Times headlines since that’s what I had to read this morning before I head back to NYC.

U.S. Weighs Takeover of Two Mortgage Giants

WASHINGTON — Alarmed by the growing financial stress at the nation’s two largest mortgage finance companies, senior Bush administration officials are considering a plan to have the government take over one or both of the companies and place them in a conservatorship if their problems worsen, people briefed about the plan said on Thursday.

I mean, after decades of fiat promises and currency and companies like this (Fiat money, irredeemable paper currency, not resting on a specie basis, but deriving its purchasing power from the declaratory fiat of the government issuing it. [1913 Webster] Source: The Collaborative International Dictionary of English v.0.48),
the distortions in the marketplace are now up to $5 trillion — about HALF THE TOTAL DEBT THESE GOVERNMENT AGENCIES HAVE SOLD TO INVESTORS AROUND THE WORLD. Let’s be clear that these companies like FNM, FRE, SLM are tools of the Democrats and Republicans and their Illuminati and Fed banking syndicate cronies and are not in any way shape or form part of “free markets”.

And the kicker of just how badly the savers, renters and financially responsible are going to get screwed by those the people who borrowed $5 trillion that they couldn’t afford to pay back is put into perspective almost as a passing thought by the New York Times writers:

The government officials said that the administration had also considered calling for legislation that would offer an explicit government guarantee on the $5 trillion of debt owned or guaranteed by the companies. But that is a far less attractive option, they said, because it would effectively double the size of the public debt.

Yup in one fell swoop, the Democrats and Republicans in charge of the government and your fiat currency are looking to DOUBLE THE TAXPAYERS’ NATIONAL DEBT.

Here’s a great idea — let’s give these guys MORE POWER and CONTROL of our markets. Clearly, their “regulations” are the solution, not the problem, right? For whom to blame for the economic problems, we face, read on…

PS. How stupid are those guys who wanted to take SLM private last year looking these days?

For Short Sellers, It Doesn’t Get Much Better

Blood is in the water, and short sellers, often viewed as the sharks of Wall Street, are circling. As shareholders of Fannie Mae and Freddie Mac watched their investments plunge in value Thursday, short sellers, who bet against stocks, could count their winnings.

The thing that kills me in this article is how the author implies that the very issues that smart doomsdayers have been saying would come back to haunt these quasi-government lending agencies that distort the markets and cause bubbles like the credit bubble we’re popping right now are caused by the smart doomsdayers themselves:

He describes the research he has written over the years as an effort to educate people, although it could be said that his bear market musings also served his fund’s purpose by spreading a view that would eventually benefit the Tice funds. “It’s a terrible thing,” he said. “I wish we could have stopped this from happening.”

Yeah, don’t blame the Fed’s artificial low rates, the pushing ARMs, the secondary market issuance guaranteed by your taxdollars, lending bail outs, Bear Stearns lenders and shareholder bailouts, and certainly don’t blame former FNM CEO Franklin Raynes for his self-enriching accounting scams…

The whole of our economy’s problems are quite obviously David Tice’s fault. Just ask the NY Times.

For Rangel, Four Rent-Stabilized Apartments

While aggressive evictions are reducing the number of rent-stabilized apartments in New York, Representative Charles B. Rangel is enjoying four of them, including three adjacent units on the 16th floor overlooking Upper Manhattan in a building owned by one of New York’s premier real estate developers.

Yeah, this is one of those Democrats/Republicans who you guys keep voting for and giving more power because he’s fighting for poor people and renters and savers, right?

Whatever you do, don’t blame Rangel, the “powerful Democrat who runs the House Ways and Means Committee” for the collapse of your economy, dollar and mortgage value. Remember, it’s David Tice’s fault!

F.C.C. Chairman Favors Penalty on Comcast

WASHINGTON (AP) — The head of the Federal Communications Commission said Thursday that he would recommend that Comcast, the nation’s largest cable company, be punished for violating agency principles that guarantee customers open access to the Internet.

The potentially precedent-setting move stems from a complaint that Comcast had blocked Internet traffic among users of a certain type of file-sharing software that allowed them to exchange large amounts of data.

Let me get this straight — Comcast owns the pipes, pays for the technology to make the pipes work, has competition from wireless and telephone companies and soon WiMax and other competitors….but they don’t have the right to decide what runs on those pipes? I say let the free market work — customers and public opinion will do the job of ensuring Comcast embraces free access to all Internet technologies. Don’t put a gun to the company’s head making them do it!

And to that point, hey, Comcast….don’t be like the Chinese communists! Open up and if you wanna charge extra for bandwidth usage, well, more power to ya!

I often used to write that the Internet companies and telephone companies were destroying a century’s worth of business models based on the elasticity of demand for usage rather than all-you-can-eat models. Clearly, these broadband providers are going to have to come back to charging customers based on how much bandwidth they consumer rather than flat-fee-ing it.

Of course, Comcast could pull a NY Times and just blame me for causing Comcast’s problems since I’ve been vocal about warning people of those coming problems that are now here and have crushed the stock over the last few years…it’s certainly not Brian Roberts or his father’s fault.