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According to President Bush this bailout is a good deal for Main Street.  He assures us that the tax dollars invested will pay for themselves and then some.  Oh really?  That’s the definition of a good investment. Well, if this is such a good investment why aren’t private investors rushing in to snap up these assets and companies at bargain prices?  Hint: Because they aren’t good investments!

Adding the $700 billion to the rest of the actions taken recently (Bear Stearns, AIG, Fannie Mae and Freddie Mac, FHA rescue bill, and the rest) the total balloons to a whopping $1.8 trillion, and counting!  Where is this money coming from?  Unfortunately for us, it’s coming out of thin air!  Anytime the government spends more than it receives in tax revenue, they engage in deficit spending. This is accomplished by the Treasury Department auctioning Treasury Securities on the open market. These are the same securities that China has purchased to the tune of $2.2 trillion. With me so far?

Click to continue reading Big Trouble in Little Washington


In the late 90’s the Clinton Administration put pressure on lenders to offer riskier loans (sub-prime) to the poor, and those with poor credit, to increase home ownership. This was accomplished by lifting restrictions on Fannie Mae and Freddie Mac, allowing them to buy these risky mortgages on, what is called, the secondary market. By expanding the loans that Fannie and Freddie could buy, banks were able to extend more of these loans since they knew they could slough them off on Fannie and Freddie.

Click to continue reading Anatomy of a Crisis

No matter who you’re voting for in this year’s election, you should be able to trust journalists, and the news they’re reporting to you. Almost 70 percent of people polled think the media is trying to help Barack Obama win. Here’s another example of media bias.

An AP report on AOL wrote Sarah Palin Says Obama Pals With Terrorist.  The article goes on to say, Republican Vice Presidential candidate Sarah Palin on Saturday accused Presidential candidate Barack Obama of “palling around with terrorists” because of an old association with a former ‘60s radical, stepping up an effort to portray Barack Obama as unacceptable to American voters.

Click to continue reading Mainstream Media Circles Wagons Around Obama

He predicted this mess we’re in now in 2003, almost three years before John McCain predicted it. Ron Paul is not my first choice for President, but he deserves way more credit than he gets. His strong suit is economics, and he could mop the floor with McCain and Obama on this subject.

On Sept. 10, 2003, U.S. Rep. Ron Paul, R-Texas, testified before House Financial Services Committee, which was holding hearings regarding special privileges extended to government sponsored enterprises (GSEs). Think Fannie Mae and Freddie Mac. In his testimony. Paul criticized such privileges in general and warned of the potential for disaster posed by government involvement with Fannie and Freddie specifically.

Click to continue reading Do People Give Ron Paul Enough Credit?

Be afraid… be VERY afraid!  Either this kid is going to be a great comedic actor when he grows up OR he’s going to be the downfall of mankind. 

Okay, I get the message… I need to vote.  Considering that I already plan to vote as I have every single time when I’ve HAD TO (yes, I say it like my life depends on it because it sort of does), I can totally ignore the depth behind the surface of this video and totally just focus on the facade.  And that facade is HOT!  Seriously, you have Jessica Alba and a bubbly Hayden Panettiere (she’s legal now, right?) promoting A MUZZLE!  I’m not saying I’m into S&M or anything like that (but check out the website for this - TheMuzzler.com), nor do I approve of the symbolic “a girl should just look pretty and not speak” (remember, I’m not about depth in this post), but these two can make anything look HOT!

Have I emphasized the hotness of this yet?

In all seriousness, I can appreciate it when people, whoever they are, can go against the grain and make fun of themselves to whatever degree.  And while Alba and Panettiere do it well, in the end, it really is a funny video with a very strong message for people, especially the youth, to go out there and vote.  SO young people, please register and vote.  Damn, I guess I lied about not looking for the depth in this video.

I just figured that your life depended on voting as well.

What better way to start a politics blog other than to urge all of you to vote.  And who better to do it than the “gods” of our society - celebrities.  Usually, the more outspoken celebs lean towards the left, but this video is a non-partisan pitch for the youth to register and use their power to elect the next President of the United States of America.  In the video you will see (in alphabetical order): Amy Adams, will.i.am, Jennifer Aniston, Kevin Bacon, Halle Berry, Kate Bosworth, Kevin Connolly, Courteney Cox, Ellen DeGeneres, Leonardo DiCaprio, Jamie Foxx, Jonah Hill, Dustin Hoffman, Anthony Kiedis, Ashton Kutcher, Adam Levine, Laura Linney, Eva Longoria, Tobey Maguire, Demi Moore, Natalie Portman, Giovanni Ribisi, Ethan Suplee, Kyra Sedgwick, Michelle Trachtenberg, Usher, and Forest Whitaker.  Check it out and get off your butts!  Registration deadlines for some states are only a day or two away!  Let’s make a difference.

In the latest edition of his Diddy Vlog (this would apparently be #24, if we want to be exact), hip hop mogul Diddy seems to have resorted to lunacy in his attempts to get his fans to get out there to register and vote this November. As you’ll see in the video, Diddy is scared. The culprit? Sarah Palin. Hey, I’m as scared of her as the next guy, but at the very least, I can articulate why I’m scared. It would have been nice if Diddy would have went that extra mile to actually put a message out there.

In the video, he does show that clip of Sarah Palin talking with Katie Couric about which magazines and newspapers she reads to keep up with everything going on - you know, the one where Sarah couldn’t name one single source? But still, that isn’t enough. At least at the end he throws out the call to action. Get out there and vote, peeps.

Alright, let’s take a break for just a moment away from the standard news fare. We know that you guys love the gadgets, gizmos, and consumer electronics just as much as we do.  These expensive and cool toys are often a marvel when you break them down to the technology that drives them. That’s what makes what we do fun, and why we love the interaction we have with our readers. However, we want to focus a bit of attention on the young ones in our country who would be happy to have a calculator for use in class, and the teachers who work for districts that can’t afford things like projectors for use in their schools.

Gear Live has joined the 2008 DonorsChoose Blogger Challenge, and we have chosen eight great causes that are centered around getting some basic technology and literature into classrooms located in our local area, as well as some of the hardest areas still suffering the affects of Hurricanes Ike and Katrina. We’ve chosen eight causes that we thought touched on what we believed in, and you can take a look at them and choose which one(s) you want to help. Our goal is to raise $5,000 for the children of our nation. Just know that the money you donate will go directly to that specific teacher request - not into some big pot of money that is then doled out by the organization.

Some of the most expensive purchases for schools are consumer electronics. We believe that all children need to get acquainted with the tools of the future as they learn so they when they are ready to hit the workforce, they can succeed alongside their peers. Please, help us in assisting teachers, children, and schools in low-income areas get the tools they need to help their children excel.

Read More | Gear Live Gives Back 2008

Gear Live iPhone giveaway

We wanted to shout out the winners of the customized Gear Live iPhone giveaway that we held a couple of weeks ago. We let three winners walk away with a piece of the action, with the grand prize, of course, winning our orange painted .

The grand prize went to

Kat. She gets the iPhone, an LRG T-shirt, a couple of Monster Cable accessories, and a few LRG Monster iPhone cases. Second place went to x1xtomx1x. He doesn’t get an iPhone or anything, but he does get a couple of the LRG Monster iPhone cases, the shirt, and the accessories. Third place went to Shan Gee, and he gets one less LRG case than x1 gets.

So there you have it, the end to another Gear Live contest. Stay tuned though, we still have a bunch of stuff that we plan on giving away to your readers. You know, like , Microsoft , etc. In the meantime, be sure you are a Gear Live member.