It is impossible to imagine that any loyal American is not anxious to have this country's current economic recession/depression come to an end. The massive number of unemployed and underemployed citizens coupled with, and probably helping to cause, the record deficit spending by the Federal government has placed a cloud of despair over our nation. The saddest aspect of this situation is that the leadership we have seen from the Obama White House has been non-existent.
Looking at the Federal debt, it is still difficult to believe that in this just ended Federal fiscal year, the Obama Administration spent $1.4 Trillion more that it received. The idea that there was deficit spending is not difficult to accept but the figure $1,400,000,000,000.00 as the short fall is almost impossible for any American mind to comprehend.
Economist Marc Faber recently pointed out that given the rate of the increase of debt by the Federal government, particularly foreign debt, that within 10 years a full 50% of all Federal government income, and that means taxes, will be spent only on the interest charges due on these Washington created financial obligations. Of course the situation could be remedied by the imposition of higher taxes on the income of Americans. However, to resolve this national debt quickly, it has been reported that minimum income tax rates would have to increase from 10% to 27.2% and maximum rates from 35% to 95.2%. With that much money going to Washington, it is not hard to imagine the negative impact on every other aspect of the American economy.
The issue facing all Americans today is centered on just how is the current financial black-hole we are facing as a nation going to be addressed and then resolved. The first and most obvious answer has to be a reduction of government - local and State and Federal - spending. Tax rates have to come down to allow greater spending by Americans in the real economy. All newly designed government programs as well as many older programs have to be diminished if not altogether dissolved. The ever increasing "welfare state" that so many Americans have been trained to rely upon has to be reversed. All Federal government focus must be redirected to economic efforts in the USA and not to the financial and social development of various 3rd world countries. This redirection of activity is particularly applicable to our military presence in Iraq and Afghanistan and Japan and Europe.
It is time for sense to return to Washington; for political authority to return to each of the 50 States; for primary concern to be directed at real American problems and not so many perceived international problems; and it is now time to curtail and then in 2012 to end Obama's rule in Washington.
Friday, October 30, 2009
Monday, October 26, 2009
Slip-Sliding Away
There was a great closing line in a recent article by George Will. The quote was, "The window of opportunity could be closing." It was directed at what could be seen as a rushed attempt by President Obama to, again quoting Will, "remake the nation and save the planet." Obviously Mr. Will exercised a little tongue-in-cheek but the message is clear. Obama and his handlers are not so naive that they have missed the continuing shift of public support away from the Obama agenda and the manifestations of that shift by a loss of current, not to mention future, Congressional support for the President.
The most recently published political poll pertaining to the Obama White House has shown that the level of national support attaching to the President is now a bit less than 50%. This same report has not been overlooked by our Representatives in Congress or our US Senators. Each of them, with a few exceptions, wants to maintain his/her seat in Washington and now realizes that open support for the governmental goals of Obama could well lead to an early and undesired retirement from Federal office.
Current emphasis is being placed on the desire of the White House to radically alter the concept of healthcare in this nation. This Obama promoted socialist approach to medicine in America has not met with great enthusiasm from many of our lawmakers. If it does pass, which is not as of today a guarantee, it would likely be missing some of the fundamental elements desired by the left-leaning drafters of the original language. This no-win or at best partial-win would be a direct result of worried law makers hoping to placate the voters of their particular region. What a unique idea! Show support for what your constituents feel and not for the political/economic tenets of Obama.
As our President sees his personally promoted healthcare plan being at worst strongly opposed and at best altered, he has lost focus on other issues that face him. More American servicemen died this weekend in Afghanistan and he can't make up his mind on what to do in that nation. Iraqi terrorists escalated attacks on the political/administrative facilities of the sitting government and our forces continue to be withdrawn. Venezuelan President Hugo Chavez heads an attack on the US dollar during a summit in Bolivia resulting in 9 Latin American nations shifting away from the dollar to a new international monetary unit, the "sucre", for transactions among these nations. In response, Obama does nothing. Finally, the American economy shows little in the way of positive change. Over 100 banks have now failed while the unemployment rate continues to grows with Obama thinking about another "stimulus" which only means a still greater deficit that this years $1.4 Trillion.
The above said "window" will close and the sooner the better for America.
The most recently published political poll pertaining to the Obama White House has shown that the level of national support attaching to the President is now a bit less than 50%. This same report has not been overlooked by our Representatives in Congress or our US Senators. Each of them, with a few exceptions, wants to maintain his/her seat in Washington and now realizes that open support for the governmental goals of Obama could well lead to an early and undesired retirement from Federal office.
Current emphasis is being placed on the desire of the White House to radically alter the concept of healthcare in this nation. This Obama promoted socialist approach to medicine in America has not met with great enthusiasm from many of our lawmakers. If it does pass, which is not as of today a guarantee, it would likely be missing some of the fundamental elements desired by the left-leaning drafters of the original language. This no-win or at best partial-win would be a direct result of worried law makers hoping to placate the voters of their particular region. What a unique idea! Show support for what your constituents feel and not for the political/economic tenets of Obama.
As our President sees his personally promoted healthcare plan being at worst strongly opposed and at best altered, he has lost focus on other issues that face him. More American servicemen died this weekend in Afghanistan and he can't make up his mind on what to do in that nation. Iraqi terrorists escalated attacks on the political/administrative facilities of the sitting government and our forces continue to be withdrawn. Venezuelan President Hugo Chavez heads an attack on the US dollar during a summit in Bolivia resulting in 9 Latin American nations shifting away from the dollar to a new international monetary unit, the "sucre", for transactions among these nations. In response, Obama does nothing. Finally, the American economy shows little in the way of positive change. Over 100 banks have now failed while the unemployment rate continues to grows with Obama thinking about another "stimulus" which only means a still greater deficit that this years $1.4 Trillion.
The above said "window" will close and the sooner the better for America.
Tuesday, October 20, 2009
Afghan Exposure
At one point in time, the military action in Afghanistan was intended to be a NATO effort with a number of member nations assisting in the efforts to destroy the Taliban and al Qaeda. Several countries, in addition to America, have assigned units to this combat zone and have suffered casualties. Britain has seen 221 of its military killed and France has had 36 suffer loss of live. Obviously America with over 850 deaths has suffered the most but we also have played the largest role and have largest force in place.
As President Obama stalls on a decision whether or not to add more personnel to the Afghanistan effort, our European and British allies have had enough.
Nicolas Sarkozy, the President of France, has made it perfectly clear that he will not order the premature withdrawal of the French military but insists that "not one single more" Frenchman will be ordered to risk his life in defending the goals of Hamid Karzai. This same sentiment was clearly present as British Prime Minister Gordon Brown recently read to Parliament the names of the British dead in the Afghan action. The sentiment of British lawmakers was reported to be overwhelmingly against British citizens "fighting and dying for an Afghan government that is deeply corrupt".
Adding more negativity to America's efforts in Afghanistan are heavily published media reports that Karzai is in office by fraud. Karzai has, it is reported, agreed to a run-off election with his nearest vote-getting opponent after an international supervising panel decreed that the outcome of the recent Afghan nationwide election was improper. The handwriting is on the wall. Unless Karzai is absented from office, Western nations, including the USA, will begin a phase down of military efforts.
The problem is that this Afghan situation is history repeating itself with Afghanistan mimicking the American experience of Vietnam. In that 1960s-1970s conflict, we introduced forces into that fight; a sitting government of South Vietnam was terminated with our help; American favorites were put into office in Saigon; and after many thousand of our troops died we ran like hell. Obama, who is currently unable to decide what to do in Afghanistan, has no desire to make any decision. Our President fears defining a military position; acting on that decision; and then being proven wrong.
His options are: 1) to do nothing and watch Americans die for no defined purpose or 2) increase the number of American military in country and hope for a definitive win in a nation that offers no real future benefit for America or 3) significantly revamp our approach with the implementation of military control efforts via drones, air strikes and commando raids or 4) voice a disgust with the Hamid Karzai regime and order that we run like hell.
The bottom line is that Obama is demonstrating that he is again in over his head and confirms this daily by his decision stalling.
As President Obama stalls on a decision whether or not to add more personnel to the Afghanistan effort, our European and British allies have had enough.
Nicolas Sarkozy, the President of France, has made it perfectly clear that he will not order the premature withdrawal of the French military but insists that "not one single more" Frenchman will be ordered to risk his life in defending the goals of Hamid Karzai. This same sentiment was clearly present as British Prime Minister Gordon Brown recently read to Parliament the names of the British dead in the Afghan action. The sentiment of British lawmakers was reported to be overwhelmingly against British citizens "fighting and dying for an Afghan government that is deeply corrupt".
Adding more negativity to America's efforts in Afghanistan are heavily published media reports that Karzai is in office by fraud. Karzai has, it is reported, agreed to a run-off election with his nearest vote-getting opponent after an international supervising panel decreed that the outcome of the recent Afghan nationwide election was improper. The handwriting is on the wall. Unless Karzai is absented from office, Western nations, including the USA, will begin a phase down of military efforts.
The problem is that this Afghan situation is history repeating itself with Afghanistan mimicking the American experience of Vietnam. In that 1960s-1970s conflict, we introduced forces into that fight; a sitting government of South Vietnam was terminated with our help; American favorites were put into office in Saigon; and after many thousand of our troops died we ran like hell. Obama, who is currently unable to decide what to do in Afghanistan, has no desire to make any decision. Our President fears defining a military position; acting on that decision; and then being proven wrong.
His options are: 1) to do nothing and watch Americans die for no defined purpose or 2) increase the number of American military in country and hope for a definitive win in a nation that offers no real future benefit for America or 3) significantly revamp our approach with the implementation of military control efforts via drones, air strikes and commando raids or 4) voice a disgust with the Hamid Karzai regime and order that we run like hell.
The bottom line is that Obama is demonstrating that he is again in over his head and confirms this daily by his decision stalling.
More Economics
The last sentence in the three column long article in the newspaper said it all with the line, "Since Obama took office in January, the economy has lost 3.4 million jobs." To be factually correct, Bush lost 3.8 million jobs but it took him from December of 2007, the accepted date of the start of the current recession, through the January 2009 reporting period to do so. That is a 14 month long cycle compared to Obama's accomplishment being done in 9 months. Neither President should receive any accolades for these numbers. However, the experts are now stating that these unemployment figures will get worst and then stay at an elevated rate at least until 2014. So what will be "an elevated rate"? Will it be the 10% Obama projection or a number much closer to 20%? Since most independent economists say we are at 17% now, my leanings are toward a high point in the 20% range and then a lower, long term calculation at a real 10% level.
Let me remind you that even accepting the Washington line that unemployment is at 9.8%, that still represents a 26 year high. More such records, no matter how cushioned, will be set in the next 6 months.
The traditional approach to boost the national economy calls for financial institutions, banks, to make loans to both large and small businesses; for large and small businesses to expand their operations with those loans; and for these expanded operations to need more employees so more people are hired. These new employees then have money to spend which keeps the whole economic deal afloat. The obvious problem is that banks are not lending. To solve this problem, Obama's advocates are talking about a second stimulus [like the first stimulus did so much good] but these funds would have to come from renewed federal borrowings and thus create even greater deficit spending totals. Any additional deficit spending is all wrong. The amount of money America owes is huge and this sum can only act as a dampening effect as our economy labors to rebound.
The size of the current deficit has even caught the critical eye of Federal Reserve Chairman Ben Bernanke. He has urged that US deficits be reduced but offers not one suggestion as to how to accomplish that purpose. This is yet another government official who has seen this terrible financial problem and is at a loss as to how to correct it. Sounds like a common refrain from the powers in place in Washington.
There are solutions but only one is worth serious consideration. The weak solutions include greater taxation to generate income to pay the bills; a devaluation of the dollar; and a default on internationally held US government debt. The one "serious consideration" is via the 2010 elections limit the ability of Obama to pass his socialist, deficit incurring legislation by shifting the control of both the House and the Senate to conservatives.
With that done, the focus can shift to a White House change in 2012.
Let me remind you that even accepting the Washington line that unemployment is at 9.8%, that still represents a 26 year high. More such records, no matter how cushioned, will be set in the next 6 months.
The traditional approach to boost the national economy calls for financial institutions, banks, to make loans to both large and small businesses; for large and small businesses to expand their operations with those loans; and for these expanded operations to need more employees so more people are hired. These new employees then have money to spend which keeps the whole economic deal afloat. The obvious problem is that banks are not lending. To solve this problem, Obama's advocates are talking about a second stimulus [like the first stimulus did so much good] but these funds would have to come from renewed federal borrowings and thus create even greater deficit spending totals. Any additional deficit spending is all wrong. The amount of money America owes is huge and this sum can only act as a dampening effect as our economy labors to rebound.
The size of the current deficit has even caught the critical eye of Federal Reserve Chairman Ben Bernanke. He has urged that US deficits be reduced but offers not one suggestion as to how to accomplish that purpose. This is yet another government official who has seen this terrible financial problem and is at a loss as to how to correct it. Sounds like a common refrain from the powers in place in Washington.
There are solutions but only one is worth serious consideration. The weak solutions include greater taxation to generate income to pay the bills; a devaluation of the dollar; and a default on internationally held US government debt. The one "serious consideration" is via the 2010 elections limit the ability of Obama to pass his socialist, deficit incurring legislation by shifting the control of both the House and the Senate to conservatives.
With that done, the focus can shift to a White House change in 2012.
Monday, October 19, 2009
Two Lurking Nightmares
Two rather diverse topics have recently been foremost in my thoughts. The first has to do with President Obama's deadly slow decision making process as he considers the current Afghanistan situation. The second has to do with the national economy. Neither are issues that are giving me warm feelings of confidence.
The war in Afghanistan is rapidly becoming an obvious lose-lose situation. If America continues to support the legitimacy of the government of Hamid Karzai, a majority of that nation's citizens will tie GIs to the existing Kabul government and feel little compassion, much less loyalty, towards our military. American armed forces will be killed promoting a regime that has no chance of becoming a popular, successful democracy located strategical only to Pakistan. Our troops are engaged in real combat situations as they confront the forces of the Taliban and the al-Qaeda for the Washington expressed purpose of serving the inhabitants Afghanistan - one of the most backward, uncivilized and impoverish locales in the world. Lets get this right, very few native Afghans have any real interest in promoting a central government; a political democracy; or anything that could be labeled modern or western. So, if we stay - we lose.
Unfortunately because America has expended so much effort and talent and money and, most tragically, American lives in Afghanistan that if we just evacuate from that suffering nation the prestige of our county, at home and abroad, has to suffer. So, if we leave - we lose.
Adding to this problem is the inability of our President to make this hard decision. He just does not appear to have the fortitude to commit one way or the other and then be forced to stand with that decision. His answer is to stall. While he waits for the government of Afghanistan address and corrrect election issues, American are killed.
The economy is the other concern. Obama has successfully helped to set a new annual deficit spending record by exceeding Federal spending over Federal income by $1.4 Trillion. All estimates of future Federal income/expenditure figures show that this hugely negative trend will continue for several years. Since foreign nations have started to be hesitant and even non-responsive to "investing" in US government debt instruments, the only source for this Obama created money need has to be increased tax revenue from both business and individual sources. However, since real unemployment is at 17% and expected to rise well into 2010 just how severe is this tax burden going to be on those who Americans still generate income? Add to that question the generally expressed feeling of economic experts that the commercial real estate segment of our economy has suffered greatly and the impact is soon to be felt by all of us.
It would be unfair not to acknowledge that our President is consistent. Like the Afghanistan war dilemma upon which Obama stalls, a viable solution from Obama on our economic woes remains nonexistent.
The war in Afghanistan is rapidly becoming an obvious lose-lose situation. If America continues to support the legitimacy of the government of Hamid Karzai, a majority of that nation's citizens will tie GIs to the existing Kabul government and feel little compassion, much less loyalty, towards our military. American armed forces will be killed promoting a regime that has no chance of becoming a popular, successful democracy located strategical only to Pakistan. Our troops are engaged in real combat situations as they confront the forces of the Taliban and the al-Qaeda for the Washington expressed purpose of serving the inhabitants Afghanistan - one of the most backward, uncivilized and impoverish locales in the world. Lets get this right, very few native Afghans have any real interest in promoting a central government; a political democracy; or anything that could be labeled modern or western. So, if we stay - we lose.
Unfortunately because America has expended so much effort and talent and money and, most tragically, American lives in Afghanistan that if we just evacuate from that suffering nation the prestige of our county, at home and abroad, has to suffer. So, if we leave - we lose.
Adding to this problem is the inability of our President to make this hard decision. He just does not appear to have the fortitude to commit one way or the other and then be forced to stand with that decision. His answer is to stall. While he waits for the government of Afghanistan address and corrrect election issues, American are killed.
The economy is the other concern. Obama has successfully helped to set a new annual deficit spending record by exceeding Federal spending over Federal income by $1.4 Trillion. All estimates of future Federal income/expenditure figures show that this hugely negative trend will continue for several years. Since foreign nations have started to be hesitant and even non-responsive to "investing" in US government debt instruments, the only source for this Obama created money need has to be increased tax revenue from both business and individual sources. However, since real unemployment is at 17% and expected to rise well into 2010 just how severe is this tax burden going to be on those who Americans still generate income? Add to that question the generally expressed feeling of economic experts that the commercial real estate segment of our economy has suffered greatly and the impact is soon to be felt by all of us.
It would be unfair not to acknowledge that our President is consistent. Like the Afghanistan war dilemma upon which Obama stalls, a viable solution from Obama on our economic woes remains nonexistent.
Friday, October 16, 2009
Third Party Reality
George F. Will regularly produces newspaper political opinion pieces and in his October 16th article has a wonderful closing statement. Discussing the potential of Republican House and particularly Republican Senate election gains, he expresses that these anticipated GOP wins "helps explain why Obama is in such a hurry to remake the nation and save the planet. His window of opportunity could be closing."
The two governor elections - Virginia and New Jersey - scheduled for this November truly can be viewed not only as a verification of this George F. Will sentiment of the closing of the Obama opportunity window but also clearly defines an unique obstacle that the anti-Obama, Republican office seekers face. This potentially defeating aspect of pending elections is the emergence of third party candidates.
In Virginia, the Republican candidate for Governor is Robert McDonnell and he is opposed by an Obama backing Democrat named R Creigh Deeds. The most recent pre-election survey shows that McDonnell enjoys an 8.8% point margin in that he leads R. Creigh 51.3% to 42.5%. The race is much closer and much different in New Jersey. The incumbent Democratic governor, Jon Corzine, is seeking reelection and his current voter draw is listed at 40.8%. Corzine trails Chris Christie, the Republican candidate, by 1 percentage point. The real difference is that 14 percent of the anticipated voters are siding with Christopher Daggot who is an independent, third party candidate. It is difficult to characterize these Daggot supporters as anything other than anti-establishment which means anti-Obama and which means anti-Corzine. Therefore the Daggot advocates are primarily a drain against the voter-backing that Republican Christie should be enjoying.
Obama's staff is by no means naive and will view this New Jersey situation as a possible remedy for effectively dividing and rendering moot the candidacy of anti-Obama office seekers in 2010 and 2012 by the creation of "strong" third party candidates. There could even be one for President.
This situation is not unknown in American history. Lets not forget the national elections of 1992. Bush, Clinton and Ross Perot faced off and Clinton won the Presidency by 6% of the vote. The electoral college margin was much higher. However, if the third party candidate, Perot, had not run then his 19% of the popular vote would have gone overwhelmingly to G. H. W. Bush and Clinton would never have won the popular vote, the Electoral College or the White House.
We have to be conscience of not letting this type of third party election history repeat itself in any of the 2010 or 2012 local, State and Federal contests.
The two governor elections - Virginia and New Jersey - scheduled for this November truly can be viewed not only as a verification of this George F. Will sentiment of the closing of the Obama opportunity window but also clearly defines an unique obstacle that the anti-Obama, Republican office seekers face. This potentially defeating aspect of pending elections is the emergence of third party candidates.
In Virginia, the Republican candidate for Governor is Robert McDonnell and he is opposed by an Obama backing Democrat named R Creigh Deeds. The most recent pre-election survey shows that McDonnell enjoys an 8.8% point margin in that he leads R. Creigh 51.3% to 42.5%. The race is much closer and much different in New Jersey. The incumbent Democratic governor, Jon Corzine, is seeking reelection and his current voter draw is listed at 40.8%. Corzine trails Chris Christie, the Republican candidate, by 1 percentage point. The real difference is that 14 percent of the anticipated voters are siding with Christopher Daggot who is an independent, third party candidate. It is difficult to characterize these Daggot supporters as anything other than anti-establishment which means anti-Obama and which means anti-Corzine. Therefore the Daggot advocates are primarily a drain against the voter-backing that Republican Christie should be enjoying.
Obama's staff is by no means naive and will view this New Jersey situation as a possible remedy for effectively dividing and rendering moot the candidacy of anti-Obama office seekers in 2010 and 2012 by the creation of "strong" third party candidates. There could even be one for President.
This situation is not unknown in American history. Lets not forget the national elections of 1992. Bush, Clinton and Ross Perot faced off and Clinton won the Presidency by 6% of the vote. The electoral college margin was much higher. However, if the third party candidate, Perot, had not run then his 19% of the popular vote would have gone overwhelmingly to G. H. W. Bush and Clinton would never have won the popular vote, the Electoral College or the White House.
We have to be conscience of not letting this type of third party election history repeat itself in any of the 2010 or 2012 local, State and Federal contests.
Tuesday, October 13, 2009
Attack On The Dollar Continues
The international attack on the American dollar continues. These assaults are not to devalue the dollar, that is being done quite nicely and consistently by the Obama Administration, but rather to reduce the dollar to just another national currency and thereby strip prestige from our legal tender and from our nation.
This past week an international financial conference was held in Turkey. During one of the general sessions, a high-ranking official of the United Nations urged that the US dollar be substituted by a "truly global reserve currency such as the IMF's special drawing rights". Recall that the cited "special drawing rights", generally referred to as SDR, were just over a month ago in the news when the same IMF [International Monetary Fund] borrowed 32 Billion SDRs from Communist China. On the day of that loan, 32 Billion SDRs were worth $50 Billion. Today that same principal debt amount is just over $51 Billion in that the dollar has lost about another 3 cents in value. However, this statement in Turkey is more sinister and ominous for Americans when the orator's identity is considered.
The subject address was made by Sha Zukang who in addition to being the
Under-Secretary-General For Economic and Social Affairs of the United Nations is a 40 year diplomat from and for Communist China.
Expanding on this monetary intrigue is the knowledge that in March of 2009 Zhou Xiaochuan, the head of Communist China's largest bank, urged the termination of the US dollar as the international trade medium of exchange. Additionally, during this past summer India hosted a small internationally conference with the invitees being only Communist China and Russia for the expressed purpose of exploring the establishment of a new international monetary standard. Now consider that the United States of America owes Communist China over $804 Billion.
Most recently the G-20 met in Pittsburgh and announced that certain economic issues that arose in individual member nations would be submitted to the same IMF for examination and comment. The term "rejection" was not included but is an obvious logical inference. As you know, America is one of the G-20. This award of oversight given to the IMF is easily seen as a prelude to international acceptance of the SDR monetary standard, which currently, but subject to regular review and change, consists of a "basket" of the money of America, England, Japan along with the Euro.
Closing out this exercise in logic, if that is at all possible in international affairs or when considering the White House, our President has made it abundantly clear that he is more of an internationalist than an American. As such it is only a matter of time [Obama has, wishfully, just over 3 more years in office] before the IMF's monetary standard is applied by international law retroactively to date of origin of all existing government debts as held by foreign nations. That would include the massive amounts we owe not only Communist China but also owe the now left-leaning Japan and the folks from OPEC.
Increasing all of the financial obligations of America to foreign nations by the relative value of the dollar to the SDR would cause an unbelievable economic turmoil in our nation. Remember when I stated that the goal of other entities was not to devalue the dollar, I lied.
This past week an international financial conference was held in Turkey. During one of the general sessions, a high-ranking official of the United Nations urged that the US dollar be substituted by a "truly global reserve currency such as the IMF's special drawing rights". Recall that the cited "special drawing rights", generally referred to as SDR, were just over a month ago in the news when the same IMF [International Monetary Fund] borrowed 32 Billion SDRs from Communist China. On the day of that loan, 32 Billion SDRs were worth $50 Billion. Today that same principal debt amount is just over $51 Billion in that the dollar has lost about another 3 cents in value. However, this statement in Turkey is more sinister and ominous for Americans when the orator's identity is considered.
The subject address was made by Sha Zukang who in addition to being the
Under-Secretary-General For Economic and Social Affairs of the United Nations is a 40 year diplomat from and for Communist China.
Expanding on this monetary intrigue is the knowledge that in March of 2009 Zhou Xiaochuan, the head of Communist China's largest bank, urged the termination of the US dollar as the international trade medium of exchange. Additionally, during this past summer India hosted a small internationally conference with the invitees being only Communist China and Russia for the expressed purpose of exploring the establishment of a new international monetary standard. Now consider that the United States of America owes Communist China over $804 Billion.
Most recently the G-20 met in Pittsburgh and announced that certain economic issues that arose in individual member nations would be submitted to the same IMF for examination and comment. The term "rejection" was not included but is an obvious logical inference. As you know, America is one of the G-20. This award of oversight given to the IMF is easily seen as a prelude to international acceptance of the SDR monetary standard, which currently, but subject to regular review and change, consists of a "basket" of the money of America, England, Japan along with the Euro.
Closing out this exercise in logic, if that is at all possible in international affairs or when considering the White House, our President has made it abundantly clear that he is more of an internationalist than an American. As such it is only a matter of time [Obama has, wishfully, just over 3 more years in office] before the IMF's monetary standard is applied by international law retroactively to date of origin of all existing government debts as held by foreign nations. That would include the massive amounts we owe not only Communist China but also owe the now left-leaning Japan and the folks from OPEC.
Increasing all of the financial obligations of America to foreign nations by the relative value of the dollar to the SDR would cause an unbelievable economic turmoil in our nation. Remember when I stated that the goal of other entities was not to devalue the dollar, I lied.
Sunday, October 11, 2009
More Thoughts On The Nobel
The shocking announcement made last week by a group of Norwegians that Barack H. Obama had been awarded the Nobel Peace Prize continues to be a point of confusion and disbelief. The obvious question is what were these people attempting to accomplish by reducing this internationally prestigious award to a shallow, premature-at-best, unsustainable-by-merit, politically-motivated accolade?
Initial reaction to this presentation has to echo the sentiments of Gov. Tim Pawlenty that a congratulations is in order for whoever receives a Nobel Prize and, expanding on this notion, this is particularly true for any of our countrymen who have been so honored. However, this particular Prize announcement is lessened by what has to be seen as an obvious attempt to influence future international affair decisions by our President. A quick review of the biographies of the 5 individuals handling the actual selection reveals little. All are politicians; one is an open socialist; 4 are women; and one, the chairman, is a male. Adding to the intrigue is the fact that nominations had to be made by February 1, 2009 and except for a period of less than two weeks the winner, Barack H. Obama, was a little known US Senator who had no history of impact on any international matter much less global peace.
If past performance is disregarded then it becomes logical that recent acts, those in the past 8 months, must have been so spectacular that it became obvious to the selection panel that Obama was the only person to be named the awardee. So what did he accomplish in that 8 month time period to protect international peace? The answer is easy - nothing. The desire to exert political pressure is then the goal that must have motivated this Obama selection and if this is the correctly discerned intent then all of America must be insulted rather than pleased.
Insult number one is how improper it is for any quasi-governmental organization of any foreign nation, much less a small nation, to believe that it can sway the international policies of what certainly is still the most powerful nation in the world. The decisions emanating from Washington are for America's best interests and those decisions often impact the rest of the world in a positive fashion. However, American betterment always needs to comes first.
Insult number two is that any foreign group can believe that an American President is so weak and so insecure and so inexperienced and so poorly advised that he would be swayed in his international affairs decisions by such an action as was initiated by the Nobel Peace Prize Committee. Sounds like the theme of the movie comedy, The Mouse That Roared.
Insult number three is that this group of Norwegians really believes that Obama is weak and insecure and inexperienced and poorly advised. But wait, this may be more than an insult but rather a reflection of what other nations really think about our President. Insult number three then becomes a true indictment of the American voting public and as Obama humbly grins and plans his trip to Scandinavia and considers which charities will receive the $1.4 million that accompanies the Award, the majority of the citizens of the United States of America hang their heads in shame and await restlessly for November of 2012.
Initial reaction to this presentation has to echo the sentiments of Gov. Tim Pawlenty that a congratulations is in order for whoever receives a Nobel Prize and, expanding on this notion, this is particularly true for any of our countrymen who have been so honored. However, this particular Prize announcement is lessened by what has to be seen as an obvious attempt to influence future international affair decisions by our President. A quick review of the biographies of the 5 individuals handling the actual selection reveals little. All are politicians; one is an open socialist; 4 are women; and one, the chairman, is a male. Adding to the intrigue is the fact that nominations had to be made by February 1, 2009 and except for a period of less than two weeks the winner, Barack H. Obama, was a little known US Senator who had no history of impact on any international matter much less global peace.
If past performance is disregarded then it becomes logical that recent acts, those in the past 8 months, must have been so spectacular that it became obvious to the selection panel that Obama was the only person to be named the awardee. So what did he accomplish in that 8 month time period to protect international peace? The answer is easy - nothing. The desire to exert political pressure is then the goal that must have motivated this Obama selection and if this is the correctly discerned intent then all of America must be insulted rather than pleased.
Insult number one is how improper it is for any quasi-governmental organization of any foreign nation, much less a small nation, to believe that it can sway the international policies of what certainly is still the most powerful nation in the world. The decisions emanating from Washington are for America's best interests and those decisions often impact the rest of the world in a positive fashion. However, American betterment always needs to comes first.
Insult number two is that any foreign group can believe that an American President is so weak and so insecure and so inexperienced and so poorly advised that he would be swayed in his international affairs decisions by such an action as was initiated by the Nobel Peace Prize Committee. Sounds like the theme of the movie comedy, The Mouse That Roared.
Insult number three is that this group of Norwegians really believes that Obama is weak and insecure and inexperienced and poorly advised. But wait, this may be more than an insult but rather a reflection of what other nations really think about our President. Insult number three then becomes a true indictment of the American voting public and as Obama humbly grins and plans his trip to Scandinavia and considers which charities will receive the $1.4 million that accompanies the Award, the majority of the citizens of the United States of America hang their heads in shame and await restlessly for November of 2012.
Friday, October 9, 2009
Nobel Peace Prize Equates Farce
All news medias led today's editions with the proclamation that Barack H. Obama had been awarded the Nobel Peace Prize. Like so many other Americans I found this announcement to be not only ridiculous but also an absolute insult to the prestige that has for decades attached to any recipient of a Nobel Prize. That prestige has now been permanently destroyed.
Under what possible rational theory could Obama ever have been seriously considered a candidate for this award? American forces are killing and dying daily in Iraq although Obama his plans to reduce the military force significantly over the next year. These same Armed Forces are engaged in extensive combat missions in Afghanistan with serious overtures to Obama, that have not been rejected by him, to expand the role and the number of the American military in that desolate nation. The only "peaceful" acts that can be attributed to Obama, and those are in themselves a stretch, are the cancellation of a proposed missile protective system in Eastern Europe and the kowtowing to North Korea as it expands its nuclear and missile programs and the failure to imposing prompt and meaningful sanctions against Iran as it races to join the club of nations with nuclear weapons.
One does not have to be paranoid to see this Nobel award is nothing more than a very cleaver attack on America. The message being sent is that Obama is an international joke as a leader. He is well liked but would not be followed even if the proposed trip was just around the corner. These Euro nations are expressing that a strong, traditional American President is not favored by the anti-American elites of the Nobel Prize Committee. However, the ever accommodating, Saudi Prince bowing, leftist leaning, socialism promoting Obama is no threat and his weaknesses can only demean and diminish America. No award of Olympic Games for Obama because his government and economy can't handle the responsibility but with a sly grin we will give him a Nobel Peace Prize and let him stick $1,400,000.00 as a cash award in his pocket.
The only American poll on this Obama award shows that 66% of his fellow citizens find the said award inappropriate; 13% find the award as premature; and 21% were in favor of the award. If these same figures can only carry over to the 2010 and 2012 elections, I will be happy to see Obama, as a former President, making public appearances with his Nobel sash across his chest and his Nobel Peace Prize medal boldly displayed.
Under what possible rational theory could Obama ever have been seriously considered a candidate for this award? American forces are killing and dying daily in Iraq although Obama his plans to reduce the military force significantly over the next year. These same Armed Forces are engaged in extensive combat missions in Afghanistan with serious overtures to Obama, that have not been rejected by him, to expand the role and the number of the American military in that desolate nation. The only "peaceful" acts that can be attributed to Obama, and those are in themselves a stretch, are the cancellation of a proposed missile protective system in Eastern Europe and the kowtowing to North Korea as it expands its nuclear and missile programs and the failure to imposing prompt and meaningful sanctions against Iran as it races to join the club of nations with nuclear weapons.
One does not have to be paranoid to see this Nobel award is nothing more than a very cleaver attack on America. The message being sent is that Obama is an international joke as a leader. He is well liked but would not be followed even if the proposed trip was just around the corner. These Euro nations are expressing that a strong, traditional American President is not favored by the anti-American elites of the Nobel Prize Committee. However, the ever accommodating, Saudi Prince bowing, leftist leaning, socialism promoting Obama is no threat and his weaknesses can only demean and diminish America. No award of Olympic Games for Obama because his government and economy can't handle the responsibility but with a sly grin we will give him a Nobel Peace Prize and let him stick $1,400,000.00 as a cash award in his pocket.
The only American poll on this Obama award shows that 66% of his fellow citizens find the said award inappropriate; 13% find the award as premature; and 21% were in favor of the award. If these same figures can only carry over to the 2010 and 2012 elections, I will be happy to see Obama, as a former President, making public appearances with his Nobel sash across his chest and his Nobel Peace Prize medal boldly displayed.
Thursday, October 8, 2009
Another Expressed Economic Fear
In a recent interview, a noted economist opined that it was quite possible for America to be soon facing a 20% inflationary impact on the US dollar. This crushing blow to our economic recovery would arise from only one change in the current status of our international monetary relationships. That change would be the cessation of the purchasing of US Government debt by Communist China and Japan. This reluctance to invest in an Obama led United States may have already begun.
Just over a month ago China made a ground breaking investment when it loaned the International Monetary Fund [IMF] the equivalent of $50 Billion. This single transaction equaled just over 6% of the total amount that China had previously placed in federal government financial obligations. More importantly it represented $50 Billion that did not go into the coffers of Washington. To add to this concern of future Chinese investments in American government debt instruments are the reports that China has opted to buy all the gold that it can locate rather than put that money into the future of America.
On the concern over future Japanese investment, there is no doubt that the voiced desires of that nation's newly elected government are to separate from Washington and concentrate more on Far East Asian relationships. The USA does not qualify as being of the Far East Asian genre.
If there is in fact substantial inflation in America, the chances of a rapid economic recovery become remote. The dollar becomes less valuable; less is spent on consumer items because more has to be spent on food, housing, utilities and gas. With no growth in the economy there is no reduction in the number of unemployed now generally accepted to be at 17%. The bottom line is that 20% inflation would be disastrous to our nation.
The reaction from the Obama Administration is yet again nothing. However, Jeffrey Lacher, the President of the Federal Reserve, announced last week that the "American economic rebound was robust". He must have missed that in September another 263,000 Americans lost their jobs and that official unemployment was now at 9.8% and that 99 banks have failed this year and that 1,046,499 American have already filed bankruptcy in 2009.
Obama may be failing in all aspects of Presidential leadership, particularly on economic matters, but he gets a good mark for effort in procuring Olympic Games. He failed in that category too but he and his wife sure looked good in Copenhagen. Maybe after January of 2013, when he is looking for a job, he could secure a position with the IOC
Just over a month ago China made a ground breaking investment when it loaned the International Monetary Fund [IMF] the equivalent of $50 Billion. This single transaction equaled just over 6% of the total amount that China had previously placed in federal government financial obligations. More importantly it represented $50 Billion that did not go into the coffers of Washington. To add to this concern of future Chinese investments in American government debt instruments are the reports that China has opted to buy all the gold that it can locate rather than put that money into the future of America.
On the concern over future Japanese investment, there is no doubt that the voiced desires of that nation's newly elected government are to separate from Washington and concentrate more on Far East Asian relationships. The USA does not qualify as being of the Far East Asian genre.
If there is in fact substantial inflation in America, the chances of a rapid economic recovery become remote. The dollar becomes less valuable; less is spent on consumer items because more has to be spent on food, housing, utilities and gas. With no growth in the economy there is no reduction in the number of unemployed now generally accepted to be at 17%. The bottom line is that 20% inflation would be disastrous to our nation.
The reaction from the Obama Administration is yet again nothing. However, Jeffrey Lacher, the President of the Federal Reserve, announced last week that the "American economic rebound was robust". He must have missed that in September another 263,000 Americans lost their jobs and that official unemployment was now at 9.8% and that 99 banks have failed this year and that 1,046,499 American have already filed bankruptcy in 2009.
Obama may be failing in all aspects of Presidential leadership, particularly on economic matters, but he gets a good mark for effort in procuring Olympic Games. He failed in that category too but he and his wife sure looked good in Copenhagen. Maybe after January of 2013, when he is looking for a job, he could secure a position with the IOC
Wednesday, October 7, 2009
Obama Comes Through - America Harmed
A conversation I engaged in at a recent grass roots political meeting was centered on President Obama being either a sinister internationalist intent on forcing socialism on America or a shallow, face-man being utilized by a radical element of Americans to promote the same international socialist goals. No decision was reached except that both views ended in bad news for America. However, recent developments at the International Monetary Fund [IMF] have forced a leaning that favors Obama as a fairly competent international socialist.
Recall that at the close of the recent Washington meetings between Communist China and the Obama Administration, President Obama agreed to assist the Chinese in obtaining a greater degree of authority in the arena of international monetary matters. He also said he would give some thought to a new international monetary standard. Via the IMF, this is being done.
On September 2, 2009 the IMF announced that it had borrowed $50 Billion from Communist China but had used for the transaction its own international monetary standard called SDR. This move away from the US Dollar as the accepted international monetary standard has been an expressed goal of Peking. In the past few days the head of the IMF, Dominique Straus-Kahn, indicated that the IMF was going to revamp its voting procedure to allow greater influence by African nations, India and Communist China. The current system grants to America an automatic 17% vote on all issues and since a positive 85% vote of IMF members is needed to approve any program, the United States had an automatic veto. This voting "revamp" will lower the voting power of American and give us a good input but no longer absolute control.
When the relationship between the head of the IMF French socialist, Straus-Kahn, and the American socialist, Obama, is considered it is clear to conclude that the IMF is assisting Obama in his prior expressed promises to China. Added to these actual developments is the published report that OPEC and a number of other nations have engaged in talks to convert international oil trade away from the dollar to a new international monetary standard that utilizes a "basket of currencies". OPEC has denied this development but it certainly sounds like the current monetary standard of the IMF, or something like it, is under consideration.
The impact on America by the implementation of the SDR standard on all international trade would force a massive change, for the worse, on our economy. As of October 6th one SDR is valued at $1.59 up 3 cents from September 2 so that the $50 Billion borrowed by the IMF is now $51 Billion with no interest calculation included. A weakening dollar will make everything imported, not just oil, more expensive for US citizens.
The biggest fear is that Obama, carrying the torch for internationalism, will decree that all outstanding US government obligations will immediately be calculated by the said SDR standard. That could mean the American debt to Communist China alone would be recalculated and be then set at $1.3 Trillion.
An economic recovery becomes more remote.
Recall that at the close of the recent Washington meetings between Communist China and the Obama Administration, President Obama agreed to assist the Chinese in obtaining a greater degree of authority in the arena of international monetary matters. He also said he would give some thought to a new international monetary standard. Via the IMF, this is being done.
On September 2, 2009 the IMF announced that it had borrowed $50 Billion from Communist China but had used for the transaction its own international monetary standard called SDR. This move away from the US Dollar as the accepted international monetary standard has been an expressed goal of Peking. In the past few days the head of the IMF, Dominique Straus-Kahn, indicated that the IMF was going to revamp its voting procedure to allow greater influence by African nations, India and Communist China. The current system grants to America an automatic 17% vote on all issues and since a positive 85% vote of IMF members is needed to approve any program, the United States had an automatic veto. This voting "revamp" will lower the voting power of American and give us a good input but no longer absolute control.
When the relationship between the head of the IMF French socialist, Straus-Kahn, and the American socialist, Obama, is considered it is clear to conclude that the IMF is assisting Obama in his prior expressed promises to China. Added to these actual developments is the published report that OPEC and a number of other nations have engaged in talks to convert international oil trade away from the dollar to a new international monetary standard that utilizes a "basket of currencies". OPEC has denied this development but it certainly sounds like the current monetary standard of the IMF, or something like it, is under consideration.
The impact on America by the implementation of the SDR standard on all international trade would force a massive change, for the worse, on our economy. As of October 6th one SDR is valued at $1.59 up 3 cents from September 2 so that the $50 Billion borrowed by the IMF is now $51 Billion with no interest calculation included. A weakening dollar will make everything imported, not just oil, more expensive for US citizens.
The biggest fear is that Obama, carrying the torch for internationalism, will decree that all outstanding US government obligations will immediately be calculated by the said SDR standard. That could mean the American debt to Communist China alone would be recalculated and be then set at $1.3 Trillion.
An economic recovery becomes more remote.
Sunday, October 4, 2009
Racism
There is a not-so-secret but absolutely unpublished rule that no journalist can ever make a generally negative comment as to the Black segment of our nation without immediately exposing himself to the label of being racist. With this idea firmly set in my mind, a Bachelor of Science in Journalism being confirming proof that I was properly trained, the recent article by Bruce Drake definitely approached that forbidden line and yet truly expressed a radical dichotomy between White Americans and Black Americans.
Although Drake cited recent political polling data from several States, he reported on just three States as to the issue of Obama's approval by Blacks and by Whites. Nothing has changed since the election of 2008. In Virginia, 56% of the polled White citizens disapproved of the efforts of Obama while 73% of that State's Black population sided with Obama. Deeper in the South, the Black citizens of Alabama approved of our President's actions by an 80% margin with 74% of the its White citizens finding fault with Obama. In the far west, the White citizens of California gave the President a 50% negative vote while the Blacks approved of his efforts by an 80% vote.
The huge disparity between these approval/disapproval results can only be explained by racism, but rather than a negative connotation of that designation it is a factually correct term in explaining this polling phenomena. The American economy is bad for both Blacks and Whites; foreign terrorists threaten both Whites and Blacks; and the massive amount of internationally held American debt is owed by both Blacks and Whites. Obama has failing marks on all three of these issues. This leaves only one logical result - a substantial number of Black Americans approve of what Obama does merely out of a pride for a member of their race. That is racism.
Is this wrong? The answer has to be yes if that single factor, race status, is allowed to control all rational thoughts as to the merits of Obama. This is a two edged sword in that race can not be viewed as a positive, vote meriting characteristic any more than race can be viewed as a justification for opposition to a vote seeking political candidate.
In 1835 Alexis De Tocqueville published his classic work, Democracy In America. This study of the developing American nation carried a lengthy commentary on race relations in the United States and, to paraphrase, De Tocqueville express sad feelings toward America because Blacks and Whites were destined to live together but never as one. With any luck, De Tocqueville was too pessimistic on this point and will be eventually proven wrong. However, today the wedge of racist is being driven into our society by Black Americans with their unquestioning support of Obama. This harms all the citizens of our nation as Obama moves us, and that means all races, towards socialism and a demeaned position in the world.
Although Drake cited recent political polling data from several States, he reported on just three States as to the issue of Obama's approval by Blacks and by Whites. Nothing has changed since the election of 2008. In Virginia, 56% of the polled White citizens disapproved of the efforts of Obama while 73% of that State's Black population sided with Obama. Deeper in the South, the Black citizens of Alabama approved of our President's actions by an 80% margin with 74% of the its White citizens finding fault with Obama. In the far west, the White citizens of California gave the President a 50% negative vote while the Blacks approved of his efforts by an 80% vote.
The huge disparity between these approval/disapproval results can only be explained by racism, but rather than a negative connotation of that designation it is a factually correct term in explaining this polling phenomena. The American economy is bad for both Blacks and Whites; foreign terrorists threaten both Whites and Blacks; and the massive amount of internationally held American debt is owed by both Blacks and Whites. Obama has failing marks on all three of these issues. This leaves only one logical result - a substantial number of Black Americans approve of what Obama does merely out of a pride for a member of their race. That is racism.
Is this wrong? The answer has to be yes if that single factor, race status, is allowed to control all rational thoughts as to the merits of Obama. This is a two edged sword in that race can not be viewed as a positive, vote meriting characteristic any more than race can be viewed as a justification for opposition to a vote seeking political candidate.
In 1835 Alexis De Tocqueville published his classic work, Democracy In America. This study of the developing American nation carried a lengthy commentary on race relations in the United States and, to paraphrase, De Tocqueville express sad feelings toward America because Blacks and Whites were destined to live together but never as one. With any luck, De Tocqueville was too pessimistic on this point and will be eventually proven wrong. However, today the wedge of racist is being driven into our society by Black Americans with their unquestioning support of Obama. This harms all the citizens of our nation as Obama moves us, and that means all races, towards socialism and a demeaned position in the world.
Friday, October 2, 2009
Steve Forbes made it perfectly clear in an interview today that the American economy will not improve until the American dollar once again becomes strong. His biggest complaint was that former President Bush did not act to strengthen the dollar when the recession started and now President Obama was also failing in that department. His rational is very good because unless the dollar becomes stronger there will be little if any desire on the part of the American financial industry to loan money. This kills growth in the American small business sector of the economy and cripples the overall national economy.
This small business sector of our economy is vital to the well being of America. A full 38% of the American GDP [Gross Domestic Product] comes from small business activity and these same entities employ 50% of the American work force. The media only focuses on big industrial failures and ignores the fact that 100s of thousands of small businesses have closed. Any walk though a strip mall or a small business center quickly demonstrates this fact. Until these businesses grow or are reestablished there will be no real increase in our employment levels. Many economists have opined that unemployment will continue to grow into and through 2010 and then level off. Slowly, with an emphasis on slowly, thereafter Americans will begin to be rehired.
Not helping this economic situation is the refusal of the banking industry to take an economic leap of faith in Americans and in the American small business sector by relaxing personal credit. Most Americans spend money via credit cards and then regularly repay those balances. There is no question that charge card defaults are at a record level, but to aggravate the situation the banks have this year withdrawn $1.25 Trillion in available credit lines from active credit cards. A full 10% of all standard credit cards have been cancelled outright and the banking industry has indicated that it will close another $1.5 Trillion in credit card lines of credit in 2010. The obvious victim is small business because spending, even on credit, allows growth and that means hiring.
Obama's focus must be on strengthening the dollar and pressuring the banks to make money available to creditworthy Americans. His efforts this week, particularly the sojourn to Copenhagen, reveal his lack of economic knowledge or maybe just his lack of interest.
This small business sector of our economy is vital to the well being of America. A full 38% of the American GDP [Gross Domestic Product] comes from small business activity and these same entities employ 50% of the American work force. The media only focuses on big industrial failures and ignores the fact that 100s of thousands of small businesses have closed. Any walk though a strip mall or a small business center quickly demonstrates this fact. Until these businesses grow or are reestablished there will be no real increase in our employment levels. Many economists have opined that unemployment will continue to grow into and through 2010 and then level off. Slowly, with an emphasis on slowly, thereafter Americans will begin to be rehired.
Not helping this economic situation is the refusal of the banking industry to take an economic leap of faith in Americans and in the American small business sector by relaxing personal credit. Most Americans spend money via credit cards and then regularly repay those balances. There is no question that charge card defaults are at a record level, but to aggravate the situation the banks have this year withdrawn $1.25 Trillion in available credit lines from active credit cards. A full 10% of all standard credit cards have been cancelled outright and the banking industry has indicated that it will close another $1.5 Trillion in credit card lines of credit in 2010. The obvious victim is small business because spending, even on credit, allows growth and that means hiring.
Obama's focus must be on strengthening the dollar and pressuring the banks to make money available to creditworthy Americans. His efforts this week, particularly the sojourn to Copenhagen, reveal his lack of economic knowledge or maybe just his lack of interest.
OBAMA & THE OLYMPICS
It is 11:04 AM, EST and the vote on the Olympic Games coming to Chicago has not yet been announced. However, once again the Obama White House is not being honest with America or the Obama White House has again lower the prestige of the American Presidency.
As a student of the history of our nation, I cannot imagine that any American President would travel across the Atlantic to a foreign nation to plead before a private international organization to place Olympic Games in one of our cities. I also could never had imagined a American President bowing to a Saudi Prince. What's going on right now in Copenhagen is not the job of President Obama but rather a task properly belonging to a meaningless, symbolic office holder like Vice President Biden. Except if the deal has already been done, the right pockets filled, and the economic promises made, then the President could fly overseas, make an appearance and when the announcement is made take credit for the success. The economy is bad, our military is not doing well in Afghanistan, the dollar is under attack, we owe Communist China $804 Billion but Obama got us a future Olympic site. This certainly defines our President.
On the other side of the coin, why would Obama risk the embarrassment to himself, the American government, and the whole of the United States by asking for this Olympic favor in person and be turned down?
What a choice. Our President attempts to misled the nation on what is going on or our President demeans the greatest elected office in the world by seeking to be named an international games host.
November 2012 can't come fast enough!
UPDATE:
The games went to Rio.
So do we now pat our President on the back and say, "Nice try" or do we shake our heads and mutter, "You idiot"? You hate to criticise anyone trying to benefit America but BHO just does not yet understand who he now is, what his office means nationally and internationally and that he has flunkies, Biden, who can waste time on items like Olympic Games selection committees.
As a student of the history of our nation, I cannot imagine that any American President would travel across the Atlantic to a foreign nation to plead before a private international organization to place Olympic Games in one of our cities. I also could never had imagined a American President bowing to a Saudi Prince. What's going on right now in Copenhagen is not the job of President Obama but rather a task properly belonging to a meaningless, symbolic office holder like Vice President Biden. Except if the deal has already been done, the right pockets filled, and the economic promises made, then the President could fly overseas, make an appearance and when the announcement is made take credit for the success. The economy is bad, our military is not doing well in Afghanistan, the dollar is under attack, we owe Communist China $804 Billion but Obama got us a future Olympic site. This certainly defines our President.
On the other side of the coin, why would Obama risk the embarrassment to himself, the American government, and the whole of the United States by asking for this Olympic favor in person and be turned down?
What a choice. Our President attempts to misled the nation on what is going on or our President demeans the greatest elected office in the world by seeking to be named an international games host.
November 2012 can't come fast enough!
UPDATE:
The games went to Rio.
So do we now pat our President on the back and say, "Nice try" or do we shake our heads and mutter, "You idiot"? You hate to criticise anyone trying to benefit America but BHO just does not yet understand who he now is, what his office means nationally and internationally and that he has flunkies, Biden, who can waste time on items like Olympic Games selection committees.
Thursday, October 1, 2009
To The Press and Federal Reserve -You Lie
It was difficult to initially believe that a news story headline and a quote from a Washington economic "big wig" were not perverted attempts at humor. Unfortunately, both the AP headline and the quote from Federal Reserve President Jeffery Lacher were correctly printed and each lied on the subject of the American economy.
The business news story from the AP was headlined by "US Economy Shows Signs Of Rebound". The leading point of the article was that consumer spending had "surged" in August and since consumer spending accounts for 70% of our economy's vitality this was a good sign. The article continued with the comment that this customer spending reflected "the success of the Cash-for-Clunkers Program". This whole reporting approach reflects nothing more than unity with the Obama Administration. The C-for-C Program did little more than reward 700,000 or so Americans along with the auto industry with several billion dollars of tax payers' money. No "surge" in consumer spending was realized in any other facet of the retail market and the C-for-C money will have to be repaid with interest to Communist China or some other creditor of America.
The President of the Federal Reserve is Jeffrey Lacker and as the AP published its above cited story, Mr. Lacker announced that the "economic rebound was robust". The real facts are that there were 551,000 new claims for unemployment benefits, a number which is up from the last reporting period. Remember, this half a million number reflects only newly laid-off workers. Additionally, American confidence in the economy diminished from 54.5 in August to 53.1 in September. The Federal government's own Commerce Department today reported that in America "personal income growth lags".
The bottom line is that the spending "surge" was a misnomer; over half a million more Americans have lost their jobs; the American public showed renewed lack of confidence in the economy; and personal income is not keeping pace. There is no evidence of an "economic rebound".
Every piece of data that is published to Americans by any member of the Obama Administration, and that includes all elements of the news media, has to be considered propaganda and examined closely. In today's AP and Lacker examples, Congressman Joe Wilson must be quoted, "You lie!"
The business news story from the AP was headlined by "US Economy Shows Signs Of Rebound". The leading point of the article was that consumer spending had "surged" in August and since consumer spending accounts for 70% of our economy's vitality this was a good sign. The article continued with the comment that this customer spending reflected "the success of the Cash-for-Clunkers Program". This whole reporting approach reflects nothing more than unity with the Obama Administration. The C-for-C Program did little more than reward 700,000 or so Americans along with the auto industry with several billion dollars of tax payers' money. No "surge" in consumer spending was realized in any other facet of the retail market and the C-for-C money will have to be repaid with interest to Communist China or some other creditor of America.
The President of the Federal Reserve is Jeffrey Lacker and as the AP published its above cited story, Mr. Lacker announced that the "economic rebound was robust". The real facts are that there were 551,000 new claims for unemployment benefits, a number which is up from the last reporting period. Remember, this half a million number reflects only newly laid-off workers. Additionally, American confidence in the economy diminished from 54.5 in August to 53.1 in September. The Federal government's own Commerce Department today reported that in America "personal income growth lags".
The bottom line is that the spending "surge" was a misnomer; over half a million more Americans have lost their jobs; the American public showed renewed lack of confidence in the economy; and personal income is not keeping pace. There is no evidence of an "economic rebound".
Every piece of data that is published to Americans by any member of the Obama Administration, and that includes all elements of the news media, has to be considered propaganda and examined closely. In today's AP and Lacker examples, Congressman Joe Wilson must be quoted, "You lie!"
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