Austin Rhodes Political Theories Not from Einstein

“Insanity is doing the same thing over and over again but expecting different results.”
– Rita Mae Brown , but frequently attributed to Albert Einstein

The last time Saxby Chambliss’ Georgia seat in the U.S. Senate was contested, it was by Democrat Jim Martin in 2008. The general election ended in a run-off. This writer, normally a Republican and fanatically conservative, endorsed Jim Martin out of sheer fright of the damage “Taxby,” as he is known in Georgia, might do with another term. After all, Chambliss had voted for the now $17 trillion Medicare D unfunded liability, the Patriot Act that took our constitutional rights, and a smorgasbord of outrageous government spending.
None of that mattered to Augusta radio talker Austin Rhodes. There isn’t a smidgeon of independence in his body when it comes to partisan politics. There is no “Republican” too objectionable to be supported to the hilt. Humorously, there is a Georgia prison system that has come to house many of his favorites. When it came to voting for Martin, Rhodes yammered about how important it was to vote for the “conservative” Chambliss for the sake of avoiding the dangerous liberal Supreme Court justice appointments Democrat Martin might vote to approve and all of the perils that the “liberal” Martin might engender.

Chambliss won.

Oops! Chambliss voted for the nomination of John Roberts to be the Chief Justice of the United States Supreme Court. Roberts voted for Obamacare, the greatest Republican-feared monster ever.

Read that one slowly. The “conservative” Austin wanted and got to avoid disastrous liberal court decisions voted for the Justice delivering the biggest liberal program that could be imagined!

Sadly the damage that the GOP establishment clown Taxby would go on to inflict will likely result in the financial collapse of America! Chambliss was the ranking member on the Agriculture Committee when the chance came to reform the colossal $400 trillion financial derivatives markets that caused the 2008 Lehman Brothers collapse. Derivatives were the biggest problem, because these insurance “contracts” where written without the reserves required by every state insurance commissioner and didn’t keep enough money to pay off the contracts when they became bad gambling debts. This came from a Saxby Chambliss vote in 2000. Worse than that, they were made even better than our money in the banks by a worse Chambliss vote that allowed mixing of the bad gambling debts with insured bank deposits!

Readers probably understand that they can call their insurance agent to place a binder on insurance for their new car. However,those binders cannot be deposited and spent . That requires a cash transaction. They aren’t “money good”. Well, in the panic of 2008, $10 million increments of insurance binders/derivatives/gambling bets were being made whole at taxpayer expense with the bailout of AIG.

$10 million or more in our money went to reimburse a phone conversation memo? Most employees cannot get $250 travel costs paid with no receipts!

Jim Martin would never have been in a position to correct these catastrophic errors. Saxby/Taxby was as the ranking member of the Agriculture Committee. Did he demand that no longer could phone calls cost taxpayers $100’s of billions in total? Watch this for yourselves.

There you have it. There are more derivatives now than in 2008 and they can still be a phone call, thanks to Saxby Chambliss.

Now in 2014, Austin Rhodes is still hawking US Senate candidates based upon their party affiliations, citing possible court nominations and legislation.

This writer is with Austin in supporting Republican David Perdue, having campaigned for him to the hilt in the primary season.

Perdue or even Democrat Michelle Nunn are far more capable than the retiring Chambliss.

Let’s hope this time Austin has it right, even if the reasoning isn’t sound by Einstein standards.

Last Word 012212A: Rep. Tim Huelskamp (R., Kansas) on M.F. Global

The Arrowflinger catches up with Rep. Tim Huelskamp, R. KS on the Washington Journal of December 8, 2011. The Congressman expected to talk about the M.F. Global scandal, but got a surprise request. After a host of simply stunning and outrageous banking frauds, near and far, the notion of the NDAA applying to a frugal saver had Al ready to reenact Custer’s Last Stand..

At this posting, people’s cash accounts with M.F. Global, a primary dealer in the Federal Reserve system with a fiduciary duty as a Treasury bond marketeer, were still unaccounted for. This joins myriad failures to prosecute the bankers responsible. Customers’ gold in M.F. Global vaults was attached by the bankruptcy trustee, who made no discernment as to ownership. Georgia was number one or number 2 in mortgage fraud for five years running. Instead of cracking down on criminals, the last thing needed in the good old USA was loss of the Bill of Rights for the honest, frugal saver.

Here is the C-Span clip of the call from the Arrowflinger.

Last Word: Iowa State Economist Chad Hart

On January 21, 2011, Dr. Chad Hart of Iowa State University was interviewed by C-Span Washington Journal host Peter Slen on the topic of rising food prices. Both received a challenge to the traditional economic theories from this sound money caller and advocate of alternative economics.

To expound on the Arrowflinger’s favorite alternative economic blogs, they include zerohedge.com, globaleconomicanalysis.blogsport.com, maxkeiser.com, market-ticker.org, kingworldnews.com, and financialsense.com.

The C-Span Interview

Last Word: Former Rep. John Spratt (D, SC)

Former Representative John Spratt (D, S.C.)was on C-Span Washington Journal April 18, 2011 discussing the Federal Budget when the Arrowflinger called in to inquire about his inconsistent voting record with respect to his avowed fiscal conservatism.
Host Libby Casey moderated.

Here is the C-Span clip of the interview.

Last Word: FDIC Chairwoman Sheila Bair

On May 6, 2010, the Arrowflinger caught up with Ms. Sheila Bair, then Chairwoman of the Federal Deposit Insurance Corporation, on the Washington Journal. Here is his last word. Since that interview, Wells Fargo, who had the misfortune to be saddled with the carcass of Wachovia, has also had to settle litigation involving mortgage fraud allegations for $590 million and Collateralized Debt Obligations for $11 million, without admitting guilt – of course! There has been a settlement with another bank for $100 million.

Closer to home, Wachovia had an enormous investor base around Augusta, Georgia because of a series of bank acquisitions using Wachovia or predecessor First Union’s stock. Wachovia stock went from $57 to less than $2 before the failing bank was rolled into Wells Fargo. Other national banks saw stock prices plunge. Since many prominent area families were so heavily invested, one of the old family patriarchs has been heard to say that the fall of Wachovia and others swept $1 billion out of Augusta. A cynic would say this is why, now more than ever, it is critical for citizens to keep vigilant, lest they find themselves making up the losses by political actions.

Now the Last Word, followed by the C-Span clip of the Bair Interview.

Here is the C-Span clip from May 6, 2010.