I guess by now it's no surprise that Obama has nothing but disdain for the democratic process (when it doesn't go his way) and prefers to implement his disastrous policies, and legislation by fiat, rather than going through the system that he so despises - He really would prefer a Dictatorship -- all this stuff about "working the levers of the legislative process" is too much trouble for him.
In this video Obama instructs his advisers to "scour" this "jobs" report and not to wait for Congress, but implement it through "administrative actions" despite the fact that the people, the Senate, the Congress have all agreed it's an election stunt that will help the economy, and a pathetic attempt to save only one job, his.
The Blaze
Showing posts with label economy. Show all posts
Showing posts with label economy. Show all posts
Wednesday, October 12, 2011
Monday, October 10, 2011
Obama betting 2008 no fluke - Americans really are stupid
Obama is betting that Americans are really as stupid as his 2008 presidential campaign seemed to bear out, and that they will fall for the soaring rhetoric, and ignore his incompetency and failed policies to reelect him in 2012.
He has thrown any pretense of governing the nation out the window and has switched to full campaign mode, not even making the slightest attempt to be truthful, or to try and work the legislative levers to get anything done.
Obama's constant haranguing to pass his jobs bill is more about his power to persuade the American people to vote for him in 2012, then it is about passing legislation or creating jobs. He knows it won't pass, but wants to make sure that Congress gets the blame, not him. And when Obama says "Congress" he means Republicans.
It is all about Obama, he is willing to use his failed jobs bill as a campaign message against the Republicans for his reelection. The people, the economy, the country be damned, its all a campaign stunt.
When Obama accuses Republicans of standing in the way of his nearly $450 billion plan, he ignores the fact that his own party has refused to unite behind the proposal either.
When Obama says Republicans haven't explained what they oppose in the plan, he ignores the fact that Republicans who control the House actually have done that in detail.
And when he calls on Congress to "pass this bill now," he slides past the point that Democrats control the Senate and were never prepared to move immediately, given other priorities. Senators are expected to vote Tuesday on opening debate on the bill, a month after the president unveiled it with a call for its immediate passage.
To be sure, Obama is only engaging in rhetorical excesses. But he is the president, and as such, his constant remarks on the bill draw the most attention and scrutiny.
The disconnect between what Obama says about his jobs bill and what stands as the political reality flow from his broader aim: to rally the public behind his cause and get Congress to act, or, if not, to pin blame on Republicans.
This is all about campaigning, not governing, and all about the success of Obama, not America.
He has thrown any pretense of governing the nation out the window and has switched to full campaign mode, not even making the slightest attempt to be truthful, or to try and work the legislative levers to get anything done.
Obama's constant haranguing to pass his jobs bill is more about his power to persuade the American people to vote for him in 2012, then it is about passing legislation or creating jobs. He knows it won't pass, but wants to make sure that Congress gets the blame, not him. And when Obama says "Congress" he means Republicans.
It is all about Obama, he is willing to use his failed jobs bill as a campaign message against the Republicans for his reelection. The people, the economy, the country be damned, its all a campaign stunt.
"He knows it's not going to pass. He's betting that voters won't pick up on it, or even if they do they will blame Congress and he can run against the 'do-nothing Congress,'" said Sherry Bebitch Jeffe, a senior fellow at the University of Southern California's School of Policy, Planning and Development.
When Obama accuses Republicans of standing in the way of his nearly $450 billion plan, he ignores the fact that his own party has refused to unite behind the proposal either.
When Obama says Republicans haven't explained what they oppose in the plan, he ignores the fact that Republicans who control the House actually have done that in detail.
And when he calls on Congress to "pass this bill now," he slides past the point that Democrats control the Senate and were never prepared to move immediately, given other priorities. Senators are expected to vote Tuesday on opening debate on the bill, a month after the president unveiled it with a call for its immediate passage.
To be sure, Obama is only engaging in rhetorical excesses. But he is the president, and as such, his constant remarks on the bill draw the most attention and scrutiny.
The disconnect between what Obama says about his jobs bill and what stands as the political reality flow from his broader aim: to rally the public behind his cause and get Congress to act, or, if not, to pin blame on Republicans.
This is all about campaigning, not governing, and all about the success of Obama, not America.
Saturday, October 8, 2011
The Left's Filthy, Disgusting, Occupy Wall Street Movement
Here is the Left's version of "Freedom" Shit wherever you like, the rest of us have to put up with it, well... cause YOU have YOUR "rights"
The Cookie Monster says 1% of the monsters eat 99% of the cookies-- maybe not -- these people look like they need to stop eating other people's cookies and get a life. If your going to complain about being poor and hungry you should at least bring some people with you that look poor and hungry.
"HONK IF YOU'RE IN DEBT " and if your not, pull over to the right and drop something into the can cause I am, and this is why ...
... I need to pay off my laptop, iPhone, wide screen TV, and Xbox so I can get something to eat.
The loony left has really blown it this time. They are walking, talking, real life examples of the sham that is liberalism in America today. A refuge for thugs, scoundrels, slackers, Communists, and Socialists. They don't even have the gonads to go after the politicians that are stealing money and jobs from the productive class , and the private sector, because the Democrats control the government and because the black messiah sits in the White House, so they go after the banks, what a bunch of wusses.
The Tea Party is the only serious grass roots movement in America that is addressing real problems with real solutions.
Enough of the madness already - 2012 can't come soon enough.
See more pics here
Monday, October 3, 2011
Terry Ponick : Stop bashing poor Ben Bernake
The Washington Times has published a piece written by Terry Ponick Note to Republicans: Stop bashing Ben Bernanke in which he tries to defend the FED and Ben Bernake, and immediately gets b-slapped back to reality by Mike Shedlock at Mish's Global Economic Trends.
Excerpt from Terry Ponick's article :
Mish's Global Economic Analysis
And let the fed bashing continue. It's nothing compared to the bashing the American people are taking at the hands of the Keynesian clowns.
Excerpt from Terry Ponick's article :
In point of fact, whether the Fed’s efforts to provide monetary stimulus to the economy are Keynesian or post-Keynesian is not the real issue here. In the case of an economic emergency (such as 9/11) or an increasingly deflationary environment (such as our current era when plunging housing prices at least initially began to lead to a disastrous decline in the value of commodities), the classic initial fix is to flood the market with liquidity, gradually withdrawing the excess as soon as practicable to avoid the opposite problem of an inflationary environment.After ten years of failed stimulus packages, QE1, QE2, and now a new round of stimulus coming disguised under different names such as the "Jobs Bill" what do we have to show for it ? more debt, higher unemployment, and a economy that is worse than it was when the Keynesian clowns took over. That is exactly the point.
That’s what Bernanke’s Fed has been doing for roughly three years now, yet it hasn’t seemed to have done much good. But the reason is not that the Fed’s policies are necessarily wrong. It’s just that there’s always an implied support expected from the Federal government, courtesy of a competent, concerned Congress that tailors new legislation to aid and abet the efforts of the Fed. In other words, when all the wagons are pulling together, the U.S. can usually extricate itself from any mess—and that means even the current morass.
It’s time to stop the Fed-bashing. It’s time to respect Bernanke for having done what he’s done. And it’s time to give him the hand that he’d been politely requesting all along for those who’d care to listen.
Mish's Global Economic Analysis
Quite frankly that's total bullsheet. History shows the Fed is responsible for blowing bubbles of ever increasing amplitude over the years. The only winners have been banks and Wall Street.I am not sure I share Mike "Mish" Shedlock's enthusiasm for Christie, yet. Nor do I think that Perry's initial missteps in the campaign will hurt him long term. I am still open on that issue. Let the vetting begin for the presidential election in 2012, unlike in 2008 when when a "prohibition on thought" thrust an un-vetted, inexperienced pop-cult figure into the White House.
Bernanke deserves no respect. He is an academic wonk with no idea what caused the great depression, and is clueless as to what to do now.
Terry Ponick correctly bashes Democrats and Republicans in his article, but to say the Fed's polices are not wrong is ludicrous. There should not be a Fed in the first place, thus any policy of the Fed can logically be considered wrong.
The only thing that is true is the way in which Perry blasted the Fed is wrong, and I hope that costs Perry the nomination in favor of Chris Christie.
And let the fed bashing continue. It's nothing compared to the bashing the American people are taking at the hands of the Keynesian clowns.
Wednesday, September 21, 2011
Liberals vow to challenge Obama in Democratic primaries
It's increasingly likely that liberals will nominate someone to run against Obama. He is weak and unpopular with his democratic base, especially the progressives, and losing ground with independent voters everyday. He still can depend on over 90% of the black vote, majority of Hispanics, and probably most union voters as well. However more and more he is being viewed as a sinking ship, panic is setting in, and the rats are getting ready to jump ship.
The Washington Post is reporting that Ralf Nader and progressive leaders want to field a slate of candidates against President Obama in the Democratic primaries to make him stake out liberal stances as he seeks re-election. Ralf Nader emphasizes that this is not a move to defeat Obama.It is more an attempt to keep him er, uh honest -- good luck with that.
Mr. Nader said the intent is not to defeat Mr. Obama but to make him focus on issues that might get lost in a purely Obama-versus-GOP discussion.So what have Democrats learned from 2008 -- NOTHING. We know from the campaign in 2008 that Obama will say anything to get elected. Just don't hold him to it after the election. If Obama had any moral integrity it would have shown up by now.
Nader goes on to say that liberals are disappointed in Obama's handling of the Wall Street bailouts, the wars in Afghanistan and Pakistan, and the U.S. involvement in the military effort in Libya. They also criticized Mr. Obama’s decision to extend the Bush-era tax cuts and the recent deal he struck with Republicans over cutting spending to raise the debt ceiling.
Could we say that Obama lied ? No they won't go that far, they dare not. This is how Obama learned to make his living in the halls of America's elite Universities like Harvard, slipping and sliding through the huge cracks liberals leave open for him to duck out of taking any responsibility for his actions or deceptions.
Ralph Nader's message to the poor and middle class that are suffering through the worst economic crisis since the Great depression seems to be -- eat shit and die, we have to raise taxes and generate more revenue for the Nanny State to waste.
It gets better...Nader -- Mr. Snap and Sizzle himself goes on to say that :
“What we are looking at now is the dullest presidential campaign since Walter Mondale — and that’s saying something, believe me,” Mr. Nader told The Washington Times.We believe you Mr. Nader if anyone knows boring it would be you. The Democrats and liberals are hopelessly out of touch with reality. They are locked onto their failed Keynesian economic policies like a suicide bomber locked onto his detonator switch. More taxes and more stimulus will fix everything. Completely ignoring the wasted $800 billion of the first stimulus, TARP, and the bailouts . In the last ten years we have had so many stimulus programs the government has run out of acronyms for them. The Keynesian's reply to every one of their failed policies is always the same - It wasn't big enough.
I saved the best for last. The main reason they are worried is that;
They fear the liberal voice is being drowned out in the presidential campaign.Drown out the liberal voice ? They must be kidding. The liberal voice is everywhere CBS, ABC, MSNBC, CNBC, CNN, Time, Life, PBS, New York Times, Washington Post, along with thousands of their toady affiliates. It's not likely their voices will be drowned out any time soon, unfortunately.
I think what they mean is that they fear that someone else may get a chance to be heard, and expose the sham they are running on the American people.
Good Luck with that nomination. Liberals will not vote against Obama in any great numbers, they would then be considered racists, and we all know that can never happen.
California, New York, and IIlinois worst places to do business
Mike Shedlock has done an excellent article graphically pointing out the differences between the worst states to do business, and the States considered the best. California tops the list as the worst, followed by New York, and Illinois. Taxes and high costs were among the factors that contributed to the state's poor showing in the survey. California was deemed to have the worst business climate, followed by New York and Illinois.
Texas, North Carolina and South Carolina were viewed as having the best business climates, according to the survey.
Best and Worst States, Things in Common
Right to Work States
Chart courtesy of National Right-to-Work legal defense foundation
Paul Krugman, Stephen Colbert, Bill Maher, others, Ignore Extortion, Bribery, Coercion, and Slavery; No One Should Own You!
Collective Bargaining neither a Privilege nor a Right
Even FDR Understood the Problem
Public unions get into bed with management and politicians and work out sweet deals for themselves at taxpayer expense. No one looks out for the taxpayer. Even FDR understood the problem.
Message from FDR
Inquiring minds are reading snips from a Letter from FDR Regarding Collective Bargaining of Public Unions written August 16, 1937.
Repealing The Davis -Bacon Act would save the taxpayers $10.9 billion dollars. So when the politicians say they cannot find things to cut from the budget it really means they just aren't looking hard enough.
Texas, North Carolina and South Carolina were viewed as having the best business climates, according to the survey.
Best and Worst States, Things in Common
- Illinois, New York, and California all have Democratic governors.
- Illinois, New York, and California all have governors beholden to public unions.
- Illinois, New York, and California are not right to work states.
- Texas, North Carolina, and South Carolina are all right-to-work states.
- Texas, North Carolina, and South Carolina do not have governors beholden to public unions.
Right to Work States
Chart courtesy of National Right-to-Work legal defense foundation
Paul Krugman, Stephen Colbert, Bill Maher, others, Ignore Extortion, Bribery, Coercion, and Slavery; No One Should Own You!
Collective Bargaining neither a Privilege nor a Right
Even FDR Understood the Problem
Public unions get into bed with management and politicians and work out sweet deals for themselves at taxpayer expense. No one looks out for the taxpayer. Even FDR understood the problem.
Message from FDR
Inquiring minds are reading snips from a Letter from FDR Regarding Collective Bargaining of Public Unions written August 16, 1937.
All Government employees should realize that the process of collective bargaining, as usually understood, cannot be transplanted into the public service. It has its distinct and insurmountable limitations when applied to public personnel management.The Heritage Foundation also points out that The Davis–Bacon Act (DBA) requires the government to pay construction wages that average 22 percent above market rates. This shields unions from competition on federal construction projects. It will also add $10.9 billion to the deficit in 2011.
The very nature and purposes of Government make it impossible for administrative officials to represent fully or to bind the employer in mutual discussions with Government employee organizations.
Particularly, I want to emphasize my conviction that militant tactics have no place in the functions of any organization of Government employees.
A strike of public employees manifests nothing less than an intent on their part to prevent or obstruct the operations of Government until their demands are satisfied. Such action, looking toward the paralysis of Government by those who have sworn to support it, is unthinkable and intolerable.
Repealing The Davis -Bacon Act would save the taxpayers $10.9 billion dollars. So when the politicians say they cannot find things to cut from the budget it really means they just aren't looking hard enough.
Saturday, September 17, 2011
The Latest Obama Gimmick : "The Buffet Rule"
The United States of America 2012 - WANTED: A person who can function as president of the United States, and be, well.... "Presidential". Obama is still giving campaign speeches, and throwing bailing wire, rubber bands, and band aids at our economic problems. The goal of course is to assure his base he hasn't abandoned their cause of taxing the wealthy, and save his own job.
The NYT is reporting that Obama's not so new idea is....drum roll please... "increasing taxes on millionaires" -- You don't say ? The NYT is calling this stunt "political salesmanship" The "Buffet Rule" as Obama is calling it is just new spin on his already tired old game of trying to put the Republicans on the defensive for the Presidential election
Buffet has taken to Obama'a strategy of fixing the economy with "words", while stuffing his own pockets with more profits. He has been hitting the talk show circuit and writing Opinion pieces in the NYT pushing the Tax the Wealthy agenda for Obama :
The Obama presidency has rapidly hastened the arrival of midnight on our country and our economy. While Obama and his rich friends fiddle and increase their personal profits, we are crashing. Obama is dwarfed by this job and could not help the situation if he wanted to, and after three years into this debacle -- that is still a BIG "if" -- we still don't know what his true motives are.
Look up the term "Community Organizer" and see what they do, they don't organize communities. They preach fear-mongering, hate, and racism to polarize the people and extort money from the government, banks, and taxpayers for themselves and their cronies.
Personally I don't care about about the wealthiest top one or two percent. I am sure they can take care of themselves, and you can tax clowns like Buffet, Gates, Zuckerburg into oblivion for all I care, in fact PLEASE do. Tax them so bad that they will never stick their heads up, or shoot their self-serving mouths off in public again. What concerns me is the narrow-minded, selfishness, and pettiness coming from the office of the President of the United States, and the devastating effect that this class-warfare, tax and spend mentality is having on small and medium sized businesses and the middle class- we are under a siege mentality, under siege by a government looking under every rock for more revenue to keep the insane cycle of tax more -- spend more -- going until it breaks us, as it is doing to Europe.
Big Corporations and people like Buffet don't pay taxes, they pass them on or hire lawyers to find the loopholes -- Whatever they hand over to the feds in taxes is easily made up for by passing that cost on to consumers and the middle class. In class-warfare it's the middle class that suffers the most casualties, not the wealthy.
Small business is being hammered by Federal and State taxes, regulations, health care costs, fees, fines, and whatever other name the states and feds can come up with to call a tax. States especially those who are led by Democratic governors and legislatures that are following Obama's tax and spend lead and have -- if it breathes, moves or has a pulse TAX IT -- we don't need no stinking spending cuts-- and it is having devastating effects on those economies, just look at States like Nevada, California, and Illinois.
The 500 pound gorilla in the room that our so-called leader cannot bring himself to deal with is "Tax Reform" a complete overhaul of our tax system, it doesn't work. And the implementation of a fair system that makes everyone a stakeholder in our success and our future. One that generates revenue and doesn't cause people to hide their incomes, and businesses to flee overseas. that is a "Presidential" message not singling out political targets for attack, and beating the drums for class-warfare.
"Tax Reform" that's a Presidential message -- "The Buffet Rule" is a Community organizer's extortion stunt.
The NYT is reporting that Obama's not so new idea is....drum roll please... "increasing taxes on millionaires" -- You don't say ? The NYT is calling this stunt "political salesmanship" The "Buffet Rule" as Obama is calling it is just new spin on his already tired old game of trying to put the Republicans on the defensive for the Presidential election
Buffet has taken to Obama'a strategy of fixing the economy with "words", while stuffing his own pockets with more profits. He has been hitting the talk show circuit and writing Opinion pieces in the NYT pushing the Tax the Wealthy agenda for Obama :
“My friends and I have been coddled long enough by a billionaire-friendly Congress,” he wrote in an opinion article in The New York Times, a complaint he has repeated in talks and media interviews since. “It’s time for our government to get serious about shared sacrifice.”Buffet says: "It’s time for our government to get serious about shared sacrifice " I would agree with that statement, but pushing the tax the wealthy theme is NOT getting serious it's kicking the can down the road and damaging an already fragile economy. Buffet is a self-serving slug.
The Obama presidency has rapidly hastened the arrival of midnight on our country and our economy. While Obama and his rich friends fiddle and increase their personal profits, we are crashing. Obama is dwarfed by this job and could not help the situation if he wanted to, and after three years into this debacle -- that is still a BIG "if" -- we still don't know what his true motives are.
Look up the term "Community Organizer" and see what they do, they don't organize communities. They preach fear-mongering, hate, and racism to polarize the people and extort money from the government, banks, and taxpayers for themselves and their cronies.
Personally I don't care about about the wealthiest top one or two percent. I am sure they can take care of themselves, and you can tax clowns like Buffet, Gates, Zuckerburg into oblivion for all I care, in fact PLEASE do. Tax them so bad that they will never stick their heads up, or shoot their self-serving mouths off in public again. What concerns me is the narrow-minded, selfishness, and pettiness coming from the office of the President of the United States, and the devastating effect that this class-warfare, tax and spend mentality is having on small and medium sized businesses and the middle class- we are under a siege mentality, under siege by a government looking under every rock for more revenue to keep the insane cycle of tax more -- spend more -- going until it breaks us, as it is doing to Europe.
Big Corporations and people like Buffet don't pay taxes, they pass them on or hire lawyers to find the loopholes -- Whatever they hand over to the feds in taxes is easily made up for by passing that cost on to consumers and the middle class. In class-warfare it's the middle class that suffers the most casualties, not the wealthy.
Small business is being hammered by Federal and State taxes, regulations, health care costs, fees, fines, and whatever other name the states and feds can come up with to call a tax. States especially those who are led by Democratic governors and legislatures that are following Obama's tax and spend lead and have -- if it breathes, moves or has a pulse TAX IT -- we don't need no stinking spending cuts-- and it is having devastating effects on those economies, just look at States like Nevada, California, and Illinois.
The 500 pound gorilla in the room that our so-called leader cannot bring himself to deal with is "Tax Reform" a complete overhaul of our tax system, it doesn't work. And the implementation of a fair system that makes everyone a stakeholder in our success and our future. One that generates revenue and doesn't cause people to hide their incomes, and businesses to flee overseas. that is a "Presidential" message not singling out political targets for attack, and beating the drums for class-warfare.
"Tax Reform" that's a Presidential message -- "The Buffet Rule" is a Community organizer's extortion stunt.
Wednesday, September 14, 2011
5 Reasons Why GOP Should Give up on Minorities
GOP politicians are constantly trying court black and Hispanic voters, by giving into wasteful, useless welfare programs that don't work, and going soft on immigrations laws that are undermining our laws and our economy, under the delusion that this will lure minorities to vote for them. After over a half a century of these appeasement policies only one thing has become clear - It ain't going to happen, at least not this way.
5 Reasons why Republicans should stop reaching out to minorities
1. The majority of Blacks have never shown indication that they would switch to GOP candidates, regardless of the Republican's stance on entitlements and welfare programs.
2. The majority of Hispanics have never shown much interest in switching their vote to the GOP candidate regardless of their positions on immigrations policies, or entitlements and welfare programs.
3. Over Ninety percent of the people in America that support, limited government, fiscal responsibility, individual freedoms, and State's rights -- all GOP core principles, are white.
4. Ninety percent of Blacks and Hispanics support the Democratic party's core principles of a Nanny State government, welfare states, tax and spend Keynesian economic policies, and the shredding, and ultimate destruction of the Constitution through judicial usurpation
5. Post racial America is a myth -- we are NOT post racial at all - We are hyper-racial - Over ninety percent of blacks and overwhelming majority of Hispanics will begrudgingly vote for Obama in 2012, despite the fact that their lives have been made harsher, more unpredictable, and they have suffered the most economically from Obama's failed economic policies.
It is time for the GOP to start reaching "in" to the majority that support their core values and principles, and stop trying to reach "out" to minorities that do not - If we have learned anything from Obama, it's that you cannot lead a country from behind.
According to Gallup polls () Only 11% of Republicans are Hispanics, or are blacks or members of other races. By contrast, only 12% of Democrats are white conservatives.
A majority of Republicans say they want their party and its candidates to move in a more conservative direction. Which means back to basics and the core values and principles that made America the Great Nation it is -- limited government, fiscal responsibility, individualism, self-responsibility, self-reliance, independent spirit, and individual liberty.
We have reached an ideological schism - If you are still an independent in this hyper-partisan political environment you either don't care, or aren't paying attention - The middle ground is slipping away, the two choices are clear - Follow the Franco-German welfare states in Europe off the cliff to fiscal destruction, or get back to the American values and principles that got us here.
Republicans nave not always held firm to those values, and too often put self-interests, party, and votes before country. But with the Tea Party nipping at their heels they are slowly making the pivot back toward smaller more effective government, fiscal responsibility, individual freedom and open markets that encourage small and medium businesses and entrepreneurship, that is what we excel at.
We should be talking about how to dismantle all the Keynisian clown economics that have eaten away at fiscal integrity and social stability over the last century. Start to get control of, or better yet, do away with, the Fed and fractional banking. Get the banks out of the investment and hedge fund business and back to saving and lending money. Get our currency back on solid ground with a gold standard. Let toxic banks and businesses fail and let the guys who got it right step up to take their place as they should. Let investors who take high risks accept their own losses and stop pushing them off on the taxpayers. And get the government out of rigging the game for their own personal and political interests. Those are the discussions that should be coming out of Washington.
Americans and the GOP needs to stop being bullied by the left and their media propaganda. We can control our destiny. -- It is not a done deal that we will be eventually overrun by poverty, sexual perverts, illegal aliens, criminals, gangsters, drug cartels and Sharia law, by 2050 -- And even if it were inevitable -- we should go down fighting for what we believe in and not just give up like the Europeans have.
Americans Are Increasingly Hostile to the Federal Government,and the majority of Americans now do NOT buy into the "Tea Party are terrorists" hype pushed by the Obama administration and mainstream media 55 % disagree The GOP's policies and core beliefs are gaining ground, and the GOP isn't even paying attention- The middle ground is sliding out from underneath us, it's time to stand on our principles and take America back, or go down fighting for it.
The core values of our culture and country do NOT have to depend on "skin color" but the Democratic party and the mainstream media has used "skin color" to polarize and divide Americans along racial lines to support their political agenda. That is the reality we have to deal with.
5 Reasons why Republicans should stop reaching out to minorities
1. The majority of Blacks have never shown indication that they would switch to GOP candidates, regardless of the Republican's stance on entitlements and welfare programs.
2. The majority of Hispanics have never shown much interest in switching their vote to the GOP candidate regardless of their positions on immigrations policies, or entitlements and welfare programs.
3. Over Ninety percent of the people in America that support, limited government, fiscal responsibility, individual freedoms, and State's rights -- all GOP core principles, are white.
4. Ninety percent of Blacks and Hispanics support the Democratic party's core principles of a Nanny State government, welfare states, tax and spend Keynesian economic policies, and the shredding, and ultimate destruction of the Constitution through judicial usurpation
5. Post racial America is a myth -- we are NOT post racial at all - We are hyper-racial - Over ninety percent of blacks and overwhelming majority of Hispanics will begrudgingly vote for Obama in 2012, despite the fact that their lives have been made harsher, more unpredictable, and they have suffered the most economically from Obama's failed economic policies.
It is time for the GOP to start reaching "in" to the majority that support their core values and principles, and stop trying to reach "out" to minorities that do not - If we have learned anything from Obama, it's that you cannot lead a country from behind.
According to Gallup polls () Only 11% of Republicans are Hispanics, or are blacks or members of other races. By contrast, only 12% of Democrats are white conservatives.
A majority of Republicans say they want their party and its candidates to move in a more conservative direction. Which means back to basics and the core values and principles that made America the Great Nation it is -- limited government, fiscal responsibility, individualism, self-responsibility, self-reliance, independent spirit, and individual liberty.
We have reached an ideological schism - If you are still an independent in this hyper-partisan political environment you either don't care, or aren't paying attention - The middle ground is slipping away, the two choices are clear - Follow the Franco-German welfare states in Europe off the cliff to fiscal destruction, or get back to the American values and principles that got us here.
Republicans nave not always held firm to those values, and too often put self-interests, party, and votes before country. But with the Tea Party nipping at their heels they are slowly making the pivot back toward smaller more effective government, fiscal responsibility, individual freedom and open markets that encourage small and medium businesses and entrepreneurship, that is what we excel at.
We should be talking about how to dismantle all the Keynisian clown economics that have eaten away at fiscal integrity and social stability over the last century. Start to get control of, or better yet, do away with, the Fed and fractional banking. Get the banks out of the investment and hedge fund business and back to saving and lending money. Get our currency back on solid ground with a gold standard. Let toxic banks and businesses fail and let the guys who got it right step up to take their place as they should. Let investors who take high risks accept their own losses and stop pushing them off on the taxpayers. And get the government out of rigging the game for their own personal and political interests. Those are the discussions that should be coming out of Washington.
Americans and the GOP needs to stop being bullied by the left and their media propaganda. We can control our destiny. -- It is not a done deal that we will be eventually overrun by poverty, sexual perverts, illegal aliens, criminals, gangsters, drug cartels and Sharia law, by 2050 -- And even if it were inevitable -- we should go down fighting for what we believe in and not just give up like the Europeans have.
Americans Are Increasingly Hostile to the Federal Government,and the majority of Americans now do NOT buy into the "Tea Party are terrorists" hype pushed by the Obama administration and mainstream media 55 % disagree The GOP's policies and core beliefs are gaining ground, and the GOP isn't even paying attention- The middle ground is sliding out from underneath us, it's time to stand on our principles and take America back, or go down fighting for it.
The core values of our culture and country do NOT have to depend on "skin color" but the Democratic party and the mainstream media has used "skin color" to polarize and divide Americans along racial lines to support their political agenda. That is the reality we have to deal with.
Sunday, September 4, 2011
Undocumented Workers Paid $4.2 Billion in Refundable Credits
The TREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION RECOVERY ACT has just released a shocking report that revels that with our debt standing at over $14.5 trillion and counting, The Internal Revenue Service allowed undocumented workers to collect $4.2 billion in refundable tax credits last year, a new audit says, almost quadruple the sum five years ago.
Many individuals who are not authorized to work in the United States, and thus not eligible to obtain a Social Security Number (SSN) for employment, earn income in the United States. The Internal Revenue Service (IRS) provides such individuals with an Individual Taxpayer Identification Number (ITIN) to facilitate their filing of tax returns. Although the law prohibits aliens residing without authorization in the United States from receiving most Federal public benefits, an increasing number of these individuals are filing tax returns claiming the Additional Child Tax Credit (ACTC), a refundable tax credit intended for working families.
The payment of Federal funds through this tax benefit provides an additional incentive for aliens to enter, reside, and work in the United States without authorization, which contradicts Federal law and policy to remove such incentives.
See also : American Recovery and Reinvestment Act of 2009 Made Fraud Easier
The IRS said it lacks the authority to disallow the claims.
Government and fraud go hand in hand. The American Recovery and Reinvestment Act of 2009 should be done away with. And when politicians like Obama refuse to address rampant government spending and acknowledge the waste and fraud that goes on in this and most other systems within the government they are failing us, and the country.
Changes to tax law are partly to blame for the explosion in refunds for additional child tax credits in recent years, auditors found. Before 2001, filers needed to have three or more children to qualify — and to owe more Social Security taxes than earned income credits.
But those requirements have been eliminated and the allowable refund for each child doubled. The American Recovery and Reinvestment Act of 2009 made the refund easier to get.
Many individuals who are not authorized to work in the United States, and thus not eligible to obtain a Social Security Number (SSN) for employment, earn income in the United States. The Internal Revenue Service (IRS) provides such individuals with an Individual Taxpayer Identification Number (ITIN) to facilitate their filing of tax returns. Although the law prohibits aliens residing without authorization in the United States from receiving most Federal public benefits, an increasing number of these individuals are filing tax returns claiming the Additional Child Tax Credit (ACTC), a refundable tax credit intended for working families.
The payment of Federal funds through this tax benefit provides an additional incentive for aliens to enter, reside, and work in the United States without authorization, which contradicts Federal law and policy to remove such incentives.
See also : American Recovery and Reinvestment Act of 2009 Made Fraud Easier
Sen. Orrin Hatch (R-Utah), ranking member of the Senate Finance Committee, On Friday announced plans to examine the refunds.
“The disconcerting findings in this report demand immediate attention and action from Congress and the Obama Administration,” Hatch said in a statement.. “With our debt standing at over $14.5 trillion and counting, it’s outrageous that the IRS is handing out refundable tax credits...to those who aren’t even eligible to work in this country.”
Wage earners who do not have Social Security numbers and are not authorized to work in the United States can use what the IRS calls individual taxpayer identification numbers. Often these result in fraudulent claims on tax returns, auditors found.
Their data showed that 72 percent of returns filed with taxpayer identification numbers claimed the child tax credit.
Changes to tax law are partly to blame for the explosion in refunds for additional child tax credits in recent years, auditors found. Before 2001, filers needed to have three or more children to qualify — and to owe more Social Security taxes than earned income credits.
But those requirements have been eliminated and the allowable refund for each child doubled. The American Recovery and Reinvestment Act of 2009 also made the refund easier to get, auditors found.
The IRS said it lacks the authority to disallow the claims.
Government and fraud go hand in hand. The American Recovery and Reinvestment Act of 2009 should be done away with. And when politicians like Obama refuse to address rampant government spending and acknowledge the waste and fraud that goes on in this and most other systems within the government they are failing us, and the country.
Changes to tax law are partly to blame for the explosion in refunds for additional child tax credits in recent years, auditors found. Before 2001, filers needed to have three or more children to qualify — and to owe more Social Security taxes than earned income credits.
But those requirements have been eliminated and the allowable refund for each child doubled. The American Recovery and Reinvestment Act of 2009 made the refund easier to get.
Thursday, September 1, 2011
Illinois's plan to tax jobs out of the state is working
Illinois is doing a great job of "losing jobs" Since January, Illinois has dropped 89,000 people from its employment rolls.
Illinois lost more jobs during the month of July than any other state in the nation, according to the most recent Bureau of Labor Statistics report. After losing 7,200 jobs in June, Illinois lost an additional 24,900 non-farm payroll jobs in July. The report also said Illinois’s unemployment rate climbed to 9.5 percent. This marks the third consecutive month of increases in the unemployment rate.
States that implement a combination of high taxes, overspending and red tape do nothing but chase away jobs and leave many of the poor, working class, middle class, people that they claim to be trying to help without jobs.
Pat Quinn,the worse Governor in the country,likes to tell the story about how he was forced to room with Governor Rick Perry from Texas on a governors trip to Iraq a few years ago, and jokes about how he had to submit himself to the harshest punishment known to man -- listening to Perry's philosophy -- well maybe he should not only have listened, but also have taken some notes, because Perry's philosophy is working, his isn't.
Illinois is a microcosm of what is happening federally, while governor Quinn is making fun of Texas, their approach has been pro free market, limited government, and less spending, and it's working. While states like Illinois continue to follow the Obama model of -- take more money -- spend more money -- run it through the government and create jobs -- It doesn't work.
Please listen to CEO of the Illinois Policy Institute John Tillman on WLS AM on the Fiasco in Illinois. It is an excellent interview about the economy and jobs situation in Illinois
Illinois lost more jobs during the month of July than any other state in the nation, according to the most recent Bureau of Labor Statistics report. After losing 7,200 jobs in June, Illinois lost an additional 24,900 non-farm payroll jobs in July. The report also said Illinois’s unemployment rate climbed to 9.5 percent. This marks the third consecutive month of increases in the unemployment rate.
States that implement a combination of high taxes, overspending and red tape do nothing but chase away jobs and leave many of the poor, working class, middle class, people that they claim to be trying to help without jobs.
Pat Quinn,the worse Governor in the country,likes to tell the story about how he was forced to room with Governor Rick Perry from Texas on a governors trip to Iraq a few years ago, and jokes about how he had to submit himself to the harshest punishment known to man -- listening to Perry's philosophy -- well maybe he should not only have listened, but also have taken some notes, because Perry's philosophy is working, his isn't.
Illinois is a microcosm of what is happening federally, while governor Quinn is making fun of Texas, their approach has been pro free market, limited government, and less spending, and it's working. While states like Illinois continue to follow the Obama model of -- take more money -- spend more money -- run it through the government and create jobs -- It doesn't work.
Please listen to CEO of the Illinois Policy Institute John Tillman on WLS AM on the Fiasco in Illinois. It is an excellent interview about the economy and jobs situation in Illinois
Wednesday, August 31, 2011
Can Another Speech Really Help Obama ?
Three years into the most polarizing, devisive, failed presidency in America history the master of deciet will step up to the microphone, AGAIN - to give another speech -- are we ready for this ? Can we stand the suspense ?
The circus is back in town after cutting the la di da vacation at Marthas' Vineyard short by a WHOLE DAY in order to deal with the worsening crisis, Obama's thirty nine percent approval rating. Three years into the failed presidency Obama's team is screaming "Stop the Presses" "Stop the World" The messiah will speak about jobs and the economy. If he really wanted to help he would have stayed on vacation.
He cannot even give a speech any longer without starting a fight, of course that is not his fault,nothing is. As if we haven't had enough Obama speeches, full of rhetoric, and empty promises.
Now Obama asked Congress to convene an extraordinary joint session next Wednesday to hear his old boring proposals to put jobless Americans back to work, but House Speaker John Boehner balked and told the president he ought to wait and speak a day later.
Of course Obama never misses a chance to start trouble. After waiting almost three years to get this presidents attention, we all must drop everything we are doing and join in on this circus act. The timing of his speech would also would be a poke in the eye at GOP presidential candidates who are to gather for a campaign debate in Simi Valley, Calif., at the same hour as the president's speech.
Obama drops this bombshell without warning, the White House notified Boehner's office on the same day it released the letter requesting the session, knowing it would conflict with Congress' schedule, and create more "conflict" have we about had it with the conflict yet ?
I think we all can pretty much sit this one out, we've heard it all before, the talking points will basically be the same ;
It has never even dawned on this entitled, spoiled, out of touch, simpleton, that the best way to keep his job is to stop campaigning, and do something. The Obama media has been chomping at the bit to take the smallest little success and hype the life out of for him, and he cannot deliver, pitiful.
2012 can't come fast enough.
The circus is back in town after cutting the la di da vacation at Marthas' Vineyard short by a WHOLE DAY in order to deal with the worsening crisis, Obama's thirty nine percent approval rating. Three years into the failed presidency Obama's team is screaming "Stop the Presses" "Stop the World" The messiah will speak about jobs and the economy. If he really wanted to help he would have stayed on vacation.
He cannot even give a speech any longer without starting a fight, of course that is not his fault,nothing is. As if we haven't had enough Obama speeches, full of rhetoric, and empty promises.
Now Obama asked Congress to convene an extraordinary joint session next Wednesday to hear his old boring proposals to put jobless Americans back to work, but House Speaker John Boehner balked and told the president he ought to wait and speak a day later.
Of course Obama never misses a chance to start trouble. After waiting almost three years to get this presidents attention, we all must drop everything we are doing and join in on this circus act. The timing of his speech would also would be a poke in the eye at GOP presidential candidates who are to gather for a campaign debate in Simi Valley, Calif., at the same hour as the president's speech.
Obama drops this bombshell without warning, the White House notified Boehner's office on the same day it released the letter requesting the session, knowing it would conflict with Congress' schedule, and create more "conflict" have we about had it with the conflict yet ?
I think we all can pretty much sit this one out, we've heard it all before, the talking points will basically be the same ;
1.All these ideas for jobs are ones that have been presented to Congress before -- Congress needs to act.blah, blah, blah, blah
2.Unfortunately, at a time when money is tight. George Bush left us a $1 trillion deficit -- Congress needs to act.
3.The Tea-Party Republicans -- have made it very difficult for me to get progressive things done -- Congress needs to act
4.Congress needs to act, Congress needs to act,Congress needs to act,Congress needs to act.
It has never even dawned on this entitled, spoiled, out of touch, simpleton, that the best way to keep his job is to stop campaigning, and do something. The Obama media has been chomping at the bit to take the smallest little success and hype the life out of for him, and he cannot deliver, pitiful.
2012 can't come fast enough.
Thursday, August 25, 2011
Obama's Deal for the Bankers: Amnesty for the Indefensible
The Nation -- This story originally appeared at Truthdig
The Obama administration is rushing to the aid of the Wall Street banks again, and is pressuring state attorneys general to negotiate a sweet amnesty deal.
It is high time to describe the Obama Administration by its proper name: corrupt.
In return for a pittance of compensation by banks to ripped-off mortgage holders, it would grant the banks blanket immunity from any prosecution. It is intended to short-circuit investigations by a score of aggressive state officials, inquiries that offer the public a last best hope to get to the bottom of the housing scandal that has cost U.S. homeowners $6.6 trillion in home equity in the past five years and left 14.6 million Americans owing more than their homes are worth.
Eric T. Schneiderman, the attorney general of New York, has come under increasing pressure from the Obama administration to drop his opposition to a wide-ranging state settlement with banks over dubious foreclosure practices. …
In recent weeks, Shaun Donovan, the secretary of Housing and Urban Development, and high-level Justice Department officials have been waging an intensifying campaign to try to persuade the attorney general to support the settlement.
Donovan has good reason not to want an exploration of the origins of the housing meltdown: He has been a big-time player in the housing racket for decades. Back in the Clinton administration, when government-supported housing became a fig leaf for bundling suspect mortgages into what turned out to be toxic securities, Donovan was a deputy assistant secretary at HUD and acting Federal Housing Administration commissioner. He was up to his eyeballs in this business when the Clinton administration pushed through legislation banning any regulation of the market in derivatives based on home mortgages.
Armed with his insider connections, Donovan then went to work for the Prudential conglomerate (no surprise there), working deals with the same government housing agencies that he had helped run. As The New York Times reported in 2008 after President Barack Obama picked him to be secretary of HUD, “Mr. Donovan was a managing director at Prudential Mortgage Capital Co., in charge of its portfolio of investments in affordable housing loans, including Fannie Mae and the Federal Housing Administration debt.”
Shifting the blame from the swindlers to the victims is at the core of the response of both the Bush and Obama administrations to the housing collapse. It is a shameless effort to forgive and forget the crimes of Wall Street and their political allies while allowing ordinary Americans to sink deeper into the pit of debt and despair.
Obama -- who kicked off his campaign vowing to begin a new era of transparency and change -- will stand before the electorate in 2012 having done everything in his power to shield top Wall Street Banks and their political collaborators from all accountability for their crimes.
What about the budget, the economy, the jobs ? he's going to get to that after his vacation at Martha's Vineyard...maybe ?
Meanwhile we should all just sit down, shut up, and stop all the noise, his gangster government wears the crown, they call the shots and continue to shake the people down.
The Obama administration is rushing to the aid of the Wall Street banks again, and is pressuring state attorneys general to negotiate a sweet amnesty deal.
It is high time to describe the Obama Administration by its proper name: corrupt.
In return for a pittance of compensation by banks to ripped-off mortgage holders, it would grant the banks blanket immunity from any prosecution. It is intended to short-circuit investigations by a score of aggressive state officials, inquiries that offer the public a last best hope to get to the bottom of the housing scandal that has cost U.S. homeowners $6.6 trillion in home equity in the past five years and left 14.6 million Americans owing more than their homes are worth.
Eric T. Schneiderman, the attorney general of New York, has come under increasing pressure from the Obama administration to drop his opposition to a wide-ranging state settlement with banks over dubious foreclosure practices. …
In recent weeks, Shaun Donovan, the secretary of Housing and Urban Development, and high-level Justice Department officials have been waging an intensifying campaign to try to persuade the attorney general to support the settlement.
Donovan has good reason not to want an exploration of the origins of the housing meltdown: He has been a big-time player in the housing racket for decades. Back in the Clinton administration, when government-supported housing became a fig leaf for bundling suspect mortgages into what turned out to be toxic securities, Donovan was a deputy assistant secretary at HUD and acting Federal Housing Administration commissioner. He was up to his eyeballs in this business when the Clinton administration pushed through legislation banning any regulation of the market in derivatives based on home mortgages.
Armed with his insider connections, Donovan then went to work for the Prudential conglomerate (no surprise there), working deals with the same government housing agencies that he had helped run. As The New York Times reported in 2008 after President Barack Obama picked him to be secretary of HUD, “Mr. Donovan was a managing director at Prudential Mortgage Capital Co., in charge of its portfolio of investments in affordable housing loans, including Fannie Mae and the Federal Housing Administration debt.”
Shifting the blame from the swindlers to the victims is at the core of the response of both the Bush and Obama administrations to the housing collapse. It is a shameless effort to forgive and forget the crimes of Wall Street and their political allies while allowing ordinary Americans to sink deeper into the pit of debt and despair.
Obama -- who kicked off his campaign vowing to begin a new era of transparency and change -- will stand before the electorate in 2012 having done everything in his power to shield top Wall Street Banks and their political collaborators from all accountability for their crimes.
What about the budget, the economy, the jobs ? he's going to get to that after his vacation at Martha's Vineyard...maybe ?
Meanwhile we should all just sit down, shut up, and stop all the noise, his gangster government wears the crown, they call the shots and continue to shake the people down.
A Huge Housing Bargain -- but Not for You
From the Street
If your the type that likes big government spreading our wealth around, if you get all warm and fuzzy thinking about the good ol days of Pork and Patronage I (Stimulus I) and the bailouts that transferred billions and billions of our dollars over to Goldman Sachs, Chase and the other Zombie banks so they could continue handing out huge bonuses and continue living a lifestyle they think they deserve, and are getting a little itchy waiting for the news about QE3, and Pork and Patronage II, here is a little something to hold you over.
The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors -- vulture funds.
These homes, which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively, are going to be sold to private investor conglomerates at pennies on the dollar. These investors will instantaneously become the largest improved real estate owners and landlords in the world and then be allowed to rent them back at market rates.
The Federal Housing Finance Agency (FHFA), the Department of Housing and Urban Development (HUD) and the U.S. Treasury Department issued a Request for Information (RFI) concerning the disposition of the inventory of foreclosed homes owned by the federal government.
An RFI is a way for the federal government to get input from the private sector on how to accomplish the goals laid out in the request. But that's really just a facade, as the RFI was structured by the investors to begin with.
The way to keep taxpayers from pushing back is to structure the RFI so that the real intention, the bulk sales, is masked by feel-good goals, such as stabilizing neighborhoods and increasing the supply of rental properties. The mainstream media has been tagged to play baking dog on this, and are doing their assigned jobs magnificently, every major newspaper in the country has done an article on this
story allowing readers to assume that Fannie, Freddie and HUD will be renting the properties directly to families who need housing. And although there is an allowance for these kinds of rentals, it is a minor political facade to the obvious true goal of bulk-sale privatization of these homes.
The entire massive HUD REO (Real Estate Owned) Portfolio is quietly managed by a handful of private firms already, a group listed as Management and Marketing Contractors.
These M&M companies are principally owned by and employ former high-ranking government officials from the various germane agencies -- the Treasury, HUD, FHA and others. And they will provide the necessary access to the current government employees who are tasked with bringing this program to fruition. Once the privatization is complete, those government employees will move from their positions, and many will take up new employment at one of the M&Ms or the new vulture funds.
You and I will not be allowed to participate. These investors will come from the private-equity and hedge-fund community, Goldman Sachs(GS_) and its derivatives, as well as foreign sovereign wealth funds that can bring a billion dollars or more to each transaction.
So if schmucks like us were hoping to get some housing bargains, that's too bad, we'll have to pay market prices and hope for the best.
Nice to know that Big Government continues to work at sticking it to us.
If your the type that likes big government spreading our wealth around, if you get all warm and fuzzy thinking about the good ol days of Pork and Patronage I (Stimulus I) and the bailouts that transferred billions and billions of our dollars over to Goldman Sachs, Chase and the other Zombie banks so they could continue handing out huge bonuses and continue living a lifestyle they think they deserve, and are getting a little itchy waiting for the news about QE3, and Pork and Patronage II, here is a little something to hold you over.
The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors -- vulture funds.
These homes, which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively, are going to be sold to private investor conglomerates at pennies on the dollar. These investors will instantaneously become the largest improved real estate owners and landlords in the world and then be allowed to rent them back at market rates.
The Federal Housing Finance Agency (FHFA), the Department of Housing and Urban Development (HUD) and the U.S. Treasury Department issued a Request for Information (RFI) concerning the disposition of the inventory of foreclosed homes owned by the federal government.
An RFI is a way for the federal government to get input from the private sector on how to accomplish the goals laid out in the request. But that's really just a facade, as the RFI was structured by the investors to begin with.
The way to keep taxpayers from pushing back is to structure the RFI so that the real intention, the bulk sales, is masked by feel-good goals, such as stabilizing neighborhoods and increasing the supply of rental properties. The mainstream media has been tagged to play baking dog on this, and are doing their assigned jobs magnificently, every major newspaper in the country has done an article on this
story allowing readers to assume that Fannie, Freddie and HUD will be renting the properties directly to families who need housing. And although there is an allowance for these kinds of rentals, it is a minor political facade to the obvious true goal of bulk-sale privatization of these homes.
The entire massive HUD REO (Real Estate Owned) Portfolio is quietly managed by a handful of private firms already, a group listed as Management and Marketing Contractors.
These M&M companies are principally owned by and employ former high-ranking government officials from the various germane agencies -- the Treasury, HUD, FHA and others. And they will provide the necessary access to the current government employees who are tasked with bringing this program to fruition. Once the privatization is complete, those government employees will move from their positions, and many will take up new employment at one of the M&Ms or the new vulture funds.
You and I will not be allowed to participate. These investors will come from the private-equity and hedge-fund community, Goldman Sachs(GS_) and its derivatives, as well as foreign sovereign wealth funds that can bring a billion dollars or more to each transaction.
So if schmucks like us were hoping to get some housing bargains, that's too bad, we'll have to pay market prices and hope for the best.
Nice to know that Big Government continues to work at sticking it to us.
Tuesday, August 23, 2011
Watch the Fight of the Century - Keynes & Hayek
From Econ Stories
According to the National Bureau of Economic Research, the Great Recession ended almost two years ago, in the summer of 2009. But the economy is flat and threatening contraction.
The Bureau of Labor Statistics has just released a report that there were mass layoffs in July, employers took 1,579 mass layoff actions in July involving 145,000 workers
Obama’s Keynesian economic policies have been catastrophic failure,The Government seems confused about what to say, much less do, to turn this around.
John Maynard Keynes and F. A. Hayek never agreed on the answers to these questions and they still don’t. Let’s listen to the greats. See Keynes and Hayek throwing down in “Fight of the Century.”
-- produced by John Papola and Russ Roberts.
According to the National Bureau of Economic Research, the Great Recession ended almost two years ago, in the summer of 2009. But the economy is flat and threatening contraction.
The Bureau of Labor Statistics has just released a report that there were mass layoffs in July, employers took 1,579 mass layoff actions in July involving 145,000 workers
Obama’s Keynesian economic policies have been catastrophic failure,The Government seems confused about what to say, much less do, to turn this around.
John Maynard Keynes and F. A. Hayek never agreed on the answers to these questions and they still don’t. Let’s listen to the greats. See Keynes and Hayek throwing down in “Fight of the Century.”
-- produced by John Papola and Russ Roberts.
Monday, August 22, 2011
Social Degeneration : Thomas Sowell
Although much of the media have their antennae out to pick up anything that might be construed as racism against blacks, they resolutely ignore even the most blatant racism by blacks against others. That includes a pattern of violent attacks on whites in public places in Chicago, Denver, New York, Milwaukee, Philadelphia, Los Angeles and Kansas City, as well as blacks in schools beating up Asian classmates -- for years -- in New York and Philadelphia. ... Remarkably similar things are being done by lower-class whites in England.
A recent study in England found 352,000 households in which nobody had ever worked. Moreover, two-thirds of the adults in those households said that they didn't want to work. As in America, such people feel both 'entitled' and aggrieved. In both countries, those who have achieved less have been taught by the educational system, by the media and by politicians on the left that they have a grievance against those who have achieved more. ... What is different today is that there has been -- for decades -- a steady drumbeat of media and political hype about differences in income, education and other outcomes, blaming these differences on oppression against those with fewer achievements or lesser prosperity. Moreover, there has been a growing tolerance of lawlessness and a growing intolerance toward the idea that people who are lagging need to take steps to raise themselves up, instead of trying to pull others down." --economist Thomas Sowell
Thursday, August 18, 2011
Obama’s job approval hits a new low .
From the Daily Caller
Only 26 percent of Americans approve of Obama’s handling of the economy. I'll leave you to imagine the demographics of that 26 percent.
(Also see : Obama to give major jobs speech in September)
I don't want too sound pushy, or ungrateful for what he has done to save us from Bush, but he's been in office for almost three years now, what the hell is he waiting for.
The new low is a drop of 11 percentage points since Gallup last measured it in May and well below his previous low of 35 percent in November 2010.
Obama earned similarly low approval for his handling of the federal budget deficit (24 percent) and creating jobs (29 percent). His approval ratings on Afghanistan and foreign affairs also sunk by 15 points and 9 points, respectively.
History will remember this period as three years of political warfare, a Socialist power grab that ignored the state of the union and the majority of the American people in order to push a Socialist political agenda, the messy political debate in Washington over the debt ceiling, followed by distress on Wall Street, the downgrading of our country, and tragedy in Afghanistan,
Gallup wrote on its website. “How much each of these factors is responsible for the overall decline in Obama’s approval rating is unclear. But Americans’ unhappiness with each of them is reflected in recent declines in Obama’s specific job ratings for the economy, the federal budget deficit, and various foreign policy measures, as well as in his markedly low rating for creating jobs.
There is only one word left to describe this political experiment "ugly"
More and more Americans are not seeing any greatness in this president and want to move on.
Only 26 percent of Americans approve of Obama’s handling of the economy. I'll leave you to imagine the demographics of that 26 percent.
(Also see : Obama to give major jobs speech in September)
I don't want too sound pushy, or ungrateful for what he has done to save us from Bush, but he's been in office for almost three years now, what the hell is he waiting for.
The new low is a drop of 11 percentage points since Gallup last measured it in May and well below his previous low of 35 percent in November 2010.
Obama earned similarly low approval for his handling of the federal budget deficit (24 percent) and creating jobs (29 percent). His approval ratings on Afghanistan and foreign affairs also sunk by 15 points and 9 points, respectively.
History will remember this period as three years of political warfare, a Socialist power grab that ignored the state of the union and the majority of the American people in order to push a Socialist political agenda, the messy political debate in Washington over the debt ceiling, followed by distress on Wall Street, the downgrading of our country, and tragedy in Afghanistan,
Gallup wrote on its website. “How much each of these factors is responsible for the overall decline in Obama’s approval rating is unclear. But Americans’ unhappiness with each of them is reflected in recent declines in Obama’s specific job ratings for the economy, the federal budget deficit, and various foreign policy measures, as well as in his markedly low rating for creating jobs.
There is only one word left to describe this political experiment "ugly"
More and more Americans are not seeing any greatness in this president and want to move on.
Wednesday, August 17, 2011
Miami may be the first major city to declare bankruptcy
If you were wondering which major America city would be first to declare bankruptcy, Miami is looking like a pretty strong bet.
Miami Declared a Financial State of Emergency. Miami is in a disastrous financial state because of unions. Bankruptcy would be the best solution. A bankruptcy agreement could dissolve the unions and all their agreements. Unions, not taxpayers should suffer the consequences of this mess.
Bloomberg reports Miami Declares ‘Financial Urgency’ as It Moves to Cut Worker Pay, Benefits
Miami Declared a Financial State of Emergency. Miami is in a disastrous financial state because of unions. Bankruptcy would be the best solution. A bankruptcy agreement could dissolve the unions and all their agreements. Unions, not taxpayers should suffer the consequences of this mess.
Bloomberg reports Miami Declares ‘Financial Urgency’ as It Moves to Cut Worker Pay, Benefits
Miami, facing a $61 million fiscal 2012 deficit, declared a state of “financial urgency” for a second straight year, moving toward wage and benefit cuts.
The declaration gives unions for municipal workers two weeks to agree to contracts for the year that starts in October or be subject to actions imposed by the City Commission. Workers including police and firefighters absorbed about $80 million in reduced pay, health insurance and pensions in fiscal 2011.
“In order to balance the budget, sacrifices have to be made by everyone,” Pat Santangelo, a spokesman for Mayor Tomas Regalado, said today by telephone. The city is the state’s second-largest by population, after Jacksonville.
Miami is bankrupt. Unfortunately the city refuses to admit it.
In an enormously foolhardy attempt to make ends meet, in spite of the fact that Miami home prices have been hammered and 1-in-8 are unemployed, the County keeps pouring on the painful tax and fee increases.
Friday, August 12, 2011
Keynesianism & Multiculturalism Failing
After the United Sates got slapped with it credit rating downgrade, much of what has come out of the White House has been political bantering, and denial. Nothing will happen in the U.S. to address it's credit and debt problems until after the elections in 2012.
Meanwhile Europe is buzzing with accusations that multiculturalism has failed. In the wake of the riots in London after Britain implemented austerity measures to reign in it's spending, and the riots and demonstrations in Greece, Europeans are worried that this is just the beginning of a savage return to austerity. The concept of multiculturalism seems to be failing all around Europe.
The one who started the trend was German Chancellor Angela Merkel. “This approach has failed, utterly,” she said
Read more here
To make matters worse, on the heels of the riots and debates on multiculturalism along comes as short but accurate message from Urs Paul Engeler on the Failure of Keynesianism
It is a short message and the external ink is in German, if you read German you can find it here , if not, I've posted below ;
Emphasis mine
So far the U.S. has not had the same experience among ethnic minority communities that has been seen in Europe, so far, but we haven't begun to implement austerity measures and spending cuts either.
If your feeling a little uneasy about the stability of the world, and have a sense that it may be in for some big changes soon, your probably right.
What to do ? who knows. It's old axiom in business when beginning a new project or a implementing a new strategy to make sure you have an exit strategy, just in case things don't work out. I don't think the Keynesians,or the Multiticulturalists thought about that. They just knew everything would be fine once we arrived at cloud-cuckoo-land, maybe not ?
Meanwhile Europe is buzzing with accusations that multiculturalism has failed. In the wake of the riots in London after Britain implemented austerity measures to reign in it's spending, and the riots and demonstrations in Greece, Europeans are worried that this is just the beginning of a savage return to austerity. The concept of multiculturalism seems to be failing all around Europe.
The one who started the trend was German Chancellor Angela Merkel. “This approach has failed, utterly,” she said
Read more here
To make matters worse, on the heels of the riots and debates on multiculturalism along comes as short but accurate message from Urs Paul Engeler on the Failure of Keynesianism
It is a short message and the external ink is in German, if you read German you can find it here , if not, I've posted below ;
Die Weltwoche - Switzerland | Thursday, August 11, 2011
Urs Paul Engeler on the failure of Keynesianism
The current economic crisis shows that the state has failed to manage the economy and that politicians have too often adopted the Keynesian approach, writes journalist Urs Paul Engeler in the conservative weekly Die Weltwoche: "By following today's apologists of the British economist John Maynard Keynes (1883-1946), the so-called 'welfare' states pumped too much money (which they didn't have) into consumption: into pensions for all (Europe), exorbitant armament (US), endangered industries (both), and finally bailouts for ailing mortgage banks (also both). This intervention was celebrated by Keynes' disciples as the 'return of politics'. In reality the hopelessly over-indebted states only exacerbated the crisis. Today they are locations of insecurity.
Those who argue that the state should be active with funds, subsidies and interventions - in short that it should perpetuate the debt economy - turn the wheel in exactly the wrong direction."
Emphasis mine
So far the U.S. has not had the same experience among ethnic minority communities that has been seen in Europe, so far, but we haven't begun to implement austerity measures and spending cuts either.
If your feeling a little uneasy about the stability of the world, and have a sense that it may be in for some big changes soon, your probably right.
What to do ? who knows. It's old axiom in business when beginning a new project or a implementing a new strategy to make sure you have an exit strategy, just in case things don't work out. I don't think the Keynesians,or the Multiticulturalists thought about that. They just knew everything would be fine once we arrived at cloud-cuckoo-land, maybe not ?
Wednesday, August 10, 2011
The Fed hands out a whopping $16 trillion in secret loans
The Government Accountability Office's audit of the fed has revealed new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression.
Among the investigation's findings is that the Fed unilaterally provided trillions of dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report. "No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president.
The non-partisan, investigative arm of Congress also determined that the Fed lacks a comprehensive system to deal with conflicts of interest, despite the serious potential for abuse. In fact, according to the report, the Fed provided conflict of interest waivers to employees and private contractors so they could keep investments in the same financial institutions and corporations that were given emergency loans.
For example, the CEO of JP Morgan Chase served on the New York Fed's board of directors at the same time that his bank received more than $390 billion in financial assistance from the Fed. Moreover, JP Morgan Chase served as one of the clearing banks for the Fed's emergency lending programs.
The investigation also revealed that the Fed outsourced most of its emergency lending programs to private contractors, many of which also were recipients of extremely low-interest and then-secret loans. The Fed outsourced virtually all of the operations of their emergency lending programs to private contractors like JP Morgan Chase, Morgan Stanley, and Wells Fargo. The same firms also received trillions of dollars in Fed loans at near-zero interest rates.
The conclusion is simple. "No one who works for a firm receiving direct financial assistance from the Fed should be allowed to sit on the Fed's board of directors or be employed by the Fed.
In what may be the understatement of the century Sen. Bernie Sanders said one thing already is abundantly clear. "The Federal Reserve must be reformed to serve the needs of working families, not just CEOs on Wall Street."
Reformed ? How about get rid of it ?
To read the GAO report, click here.
You can't put lipstick on this pig
You don't have to be an economist to understand these numbers, they speak for themselves. This ugly picture is the the Civilian Employment to Population Ratio.
There are two points on the chart that immediately jump out at you. In 1984 jobs and the economy starting growing at an unprecedented rate. In 2008 the chart falls off steeply and begins to look like a graveyard dive.
Reaganomics is generally considered to have ushered in an era of prosperity and growth, this chart seems to bear that out. We are in the midst of a the great liberal experiment, Keynesian economics and spread the wealth Socialism.
Click on chart to see full size
This administration and liberals have been hell bent to prove Reagan wrong. They have had their chance, they have taken their best shot, but they have only made Reagan look better.
In 1984 the percentage of population employed was at about 57 % since then it has steadily grown to reached a level of about 63 % in 2005.
Today it is back to about 58 %. During the Obama administration we have erased almost 30 years of job growth, and are now back at the levels we have not seen since the 1970's.
We either were in one big fantasy bubble from 1980's until 2005 or the Obama administration is definitely on the wrong track.
There is no silver lining in these numbers, it is weak, weak, weak. And confidence that things will improve is getting worse.
As far as Obama saving us from another Great Depression, well, it ain't over yet.
Have you had enough yet ?
There are two points on the chart that immediately jump out at you. In 1984 jobs and the economy starting growing at an unprecedented rate. In 2008 the chart falls off steeply and begins to look like a graveyard dive.
Reaganomics is generally considered to have ushered in an era of prosperity and growth, this chart seems to bear that out. We are in the midst of a the great liberal experiment, Keynesian economics and spread the wealth Socialism.
Click on chart to see full size
This administration and liberals have been hell bent to prove Reagan wrong. They have had their chance, they have taken their best shot, but they have only made Reagan look better.
In 1984 the percentage of population employed was at about 57 % since then it has steadily grown to reached a level of about 63 % in 2005.
Today it is back to about 58 %. During the Obama administration we have erased almost 30 years of job growth, and are now back at the levels we have not seen since the 1970's.
We either were in one big fantasy bubble from 1980's until 2005 or the Obama administration is definitely on the wrong track.
There is no silver lining in these numbers, it is weak, weak, weak. And confidence that things will improve is getting worse.
As far as Obama saving us from another Great Depression, well, it ain't over yet.
Have you had enough yet ?
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