{"id":7034,"date":"2012-03-19T18:30:58","date_gmt":"2012-03-19T22:30:58","guid":{"rendered":"http:\/\/angry.net\/blog2\/?p=7034"},"modified":"2019-04-25T05:16:02","modified_gmt":"2019-04-25T09:16:02","slug":"obama-uses-peg-bundy-economics","status":"publish","type":"post","link":"https:\/\/angry.net\/blog2\/?p=7034","title":{"rendered":"Obama uses Peg Bundy economics"},"content":{"rendered":"

Good evening all. I saw this little gem earlier today. It seems Obama has decided to use the Peg Bundy school of economic theory with regards to his green energy policies.<\/p>\n

<\/p>\n

What am I talking about? Well it seems that one of Obama\u2019s crony colar corporations was give a loan. They used that money to buy solar panels that they actually made! Here are some of the gory details from an article by Timothy P. Carney Senior Political Columnist of the Washington Examiner:<\/p>\n

A heavily subsidized solar company received a U.S. taxpayer loan guarantee to sell solar panels to itself.<\/p>\n

First Solar is the company. The subsidy came from the Export-Import Bank, which President Obama and Harry Reid are currently fighting to extend and expand. The underlying issue is how Obama’s insistence on green-energy subsidies and export subsidies manifests itself as rank corporate welfare.<\/p><\/blockquote>\n

Obama and Reid. A pair of really not to clever crooks as we\u2019ve all learned. So what are the details of this fiasco?<\/p>\n

First Solar is an Arizona-based manufacturer of solar panels. In 2010, the Obama administration awarded the company $16.3 million to expand its factory in Ohio — a subsidy Democratic Gov. Ted Strickland touted in his failed re-election bid that year.<\/p>\n

Five weeks before the 2010 election, Strickland announced more than a million dollars in job training grants to First Solar. The Ohio Department of Development also lent First Solar $5 million, and the state’s Air Quality Development Authority gave the company an additional $10 million loan.<\/p><\/blockquote>\n

Oh brother! Is it any wonder this country is in the financial pickle it is?<\/p>\n

In September 2011, Ex-Im approved $455.7 million in loan guarantees to subsidize the sale of solar panels to two wind farms in Canada. That means if the wind farm ever defaults, the taxpayers pick up the tab, ensuring First Solar gets paid.<\/p><\/blockquote>\n

Gee, this sounds familiar doesn\u2019t it? Where have we heard about this sort of set up before? I know! Solyndra!! Getting back to the story, who bought the panels?<\/p>\n

But the buyer, in this case, was First Solar.<\/p><\/blockquote>\n

Say WHAT???<\/p>\n

A small corporation called St. Clair Solar owned the wind farm and was the Canadian company buying First Solar’s panels. But St. Clair Solar was a wholly owned subsidiary of First Solar. So, basically, First Solar was shipping its own solar panels from Ohio to a solar farm it owned in Canada, and the U.S. taxpayers were subsidizing this “export.<\/p><\/blockquote>\n

Now I\u2019ve worked for companies that do internal sales. Basically site A needs something that Plant B makes. Site A has to budget for the item and pays Site B for the item. However, the Item is meant to help the company overall MAKE A PROFIT!! However, this scam looks to be set up to enrich some Obama Cronies at the expense of the taxpayers. Apparently this isn\u2019t the first time the Export-Import bank has been found to be playing games.<\/p>\n

This isn’t the first time Ex-Im has subsidized companies selling to themselves. In late 2000, for instance, the ill-fated power giant Enron won a $132 million direct-loan package from Ex-Im (that is, from the taxpayers) in order to sell “engineering services & process equipment” to a Venezuelan power company owned 49.25 percent by Enron. Enron was both the buyer and the seller in a 1995 sale to Turkey that Ex-Im financed through a $250 million loan.<\/p>\n

Enron’s healthy feedings at Ex-Im’s trough before its bankruptcy also help poke holes in another Ex-Im defense: that it operates at no cost to taxpayers.<\/p><\/blockquote>\n

Oh terrific! Enron ((The Enron Scandal<\/a>))! If that doesn\u2019t send up flares that something stinks in the oval office, I don\u2019t know what is. We\u2019re about to get royally screwed yet again by the most incompetent, corrupt, thuggish administration in U.S. History.<\/p>\n

Gaah! Peg Bundy is a sales genius compared to these idiots!<\/p>\n

[youtube]http:\/\/www.youtube.com\/watch?v=r-nGn3cQIWM[\/youtube]<\/p>\n

I think I should go watch the reruns on the National Geographic Channel of \u201cDoomsday Preppers.\u201d November can\u2019t come soon enough for me!<\/p>\n

Thatisall<\/p>\n

~The Angry Webmaster~<\/strong><\/em><\/p>\n\"1\"2\"3\"4\"5 (1<\/strong> votes, average: 1.00<\/strong> out of 5)
<\/span><\/span>Loading...<\/span>\n","protected":false},"excerpt":{"rendered":"

Good evening all. I saw this little gem earlier today. It seems Obama has decided to use the Peg Bundy school of economic theory with regards to his green energy policies. Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3,43,71,8,115],"tags":[3,44,15,101,18,8,110],"class_list":["post-7034","post","type-post","status-publish","format-standard","hentry","category-crime","category-global-warming","category-news-of-the-day","category-politics","category-stupidity-crime","tag-crime","tag-globull-worming","tag-incompetence","tag-news","tag-obama","tag-politics","tag-scoamf"],"views":1101,"jetpack_featured_media_url":"","jetpack-related-posts":[{"id":4705,"url":"https:\/\/angry.net\/blog2\/?p=4705","url_meta":{"origin":7034,"position":0},"title":"Look at all those green jobs Obama promised!","author":"Angry Webmaster","date":"September 1, 2011","format":false,"excerpt":"Greetings all, Angry Webmaster here. I was just reading about the latest Obama backed green jobs success story. This one was about Solyndra in Fremont California.","rel":"","context":"In "Global Warming"","block_context":{"text":"Global Warming","link":"https:\/\/angry.net\/blog2\/?cat=43"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14665,"url":"https:\/\/angry.net\/blog2\/?p=14665","url_meta":{"origin":7034,"position":1},"title":"Harry Reid: It\u2019s not over","author":"Angry Webmaster","date":"April 16, 2014","format":false,"excerpt":"This was the statement made by Dingy Harry Reid regarding the standoff at the Bundy Ranch. The way Reid said it implies that the BLM might try again to go after the Bundy\u2019s cattle or that the FBI might go in instead with their usual lack of subtly.","rel":"","context":"In "Crime"","block_context":{"text":"Crime","link":"https:\/\/angry.net\/blog2\/?cat=3"},"img":{"alt_text":"harry-reid-finger","src":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2014\/03\/harry-reid-finger-150x150.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":14644,"url":"https:\/\/angry.net\/blog2\/?p=14644","url_meta":{"origin":7034,"position":2},"title":"The Bundy\u2019s verses the BLM","author":"Angry Webmaster","date":"April 12, 2014","format":false,"excerpt":"Good day all. I\u2019ve been following a story out of Nevada for the last week that has exploded into the national consciousness. A family cattle ranch is in the process of going toe to toe with the federal Bureau of Land Management, (BLM), over cattle grazing.","rel":"","context":"In "liberty"","block_context":{"text":"liberty","link":"https:\/\/angry.net\/blog2\/?cat=37"},"img":{"alt_text":"Stuck on Stupid","src":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2011\/12\/stuck-on-stupid-150x150.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":25620,"url":"https:\/\/angry.net\/blog2\/?p=25620","url_meta":{"origin":7034,"position":3},"title":"Envirowhackos want another go at the Bundy\u2019s","author":"Angry Webmaster","date":"January 26, 2018","format":false,"excerpt":"Good day all. I recently wrote up a post on the conclusion of the Bundy Saga. Cliven Bundy and several others had been on trial for not allowing the Bureau of Land Management steal their cattle, destroy their property and allow themselves to be brutally beaten and killed. The entire\u2026","rel":"","context":"In "Moonbat"","block_context":{"text":"Moonbat","link":"https:\/\/angry.net\/blog2\/?cat=100"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/i.pinimg.com\/originals\/fa\/93\/2c\/fa932cf65af1fa21545d1c05e0846a2c.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":25599,"url":"https:\/\/angry.net\/blog2\/?p=25599","url_meta":{"origin":7034,"position":4},"title":"Bundy\u2019s won, government, nothing","author":"Angry Webmaster","date":"January 16, 2018","format":false,"excerpt":"Good day all. Do you remember the incident with the Bundy\u2019s? No, I don\u2019t mean shoe salesman Al and worthless couch potato Peg, I\u2019m speaking of the ranchers that triggered a major standoff with the Bureau of Land Management and about a thousand armed citizens. I won\u2019t bother going itno\u2026","rel":"","context":"In "Crime"","block_context":{"text":"Crime","link":"https:\/\/angry.net\/blog2\/?cat=3"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2012\/06\/Gadsden_flag-300x199.png?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5279,"url":"https:\/\/angry.net\/blog2\/?p=5279","url_meta":{"origin":7034,"position":5},"title":"Obamaland: If at first you Don’t succeed…","author":"Angry Webmaster","date":"October 21, 2011","format":false,"excerpt":"Throw even more money at it! Good day all, AW here and the other shoe has dropped in the Solyndra fiasco. ABC is reporting that Obama has shipped another $500 million to another \"Green\" company. Just a couple of small problems with this of course. The company isn't even in\u2026","rel":"","context":"In "Crime"","block_context":{"text":"Crime","link":"https:\/\/angry.net\/blog2\/?cat=3"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2011\/10\/800px-Fisker_Karma-300x188.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/posts\/7034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7034"}],"version-history":[{"count":7,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/posts\/7034\/revisions"}],"predecessor-version":[{"id":28551,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/posts\/7034\/revisions\/28551"}],"wp:attachment":[{"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}