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MONEY IS THE CANCER

By: moonlightcowboy, 2:11 AM GMT on September 13, 2009



...our Capital can continue to look like this one (above), or like the one (below).

Some of you may have caught my earlier post with my opinion of what is likely to emerge in the "so-called" HCR legislation that Congress is about to pass. If you read that, you understand the premise behind this blog, and of course, similar blogs I've posted in the past. Each, unequivocally, have one resounding theme that I've tried to stress repeatedly - that Congress is a slave to lobby and their money. It is how they perpetuate themselves in the greedland of Washington DC. "Representation of the people" has become a side-show, a mockery of the country and our people. Congress, the President and nearly every other arm of government are no longer in-touch with the people they are supposed to serve. They serve the corporations. They serve the lobby, both national-corporate and foreign interests. And, believe it or not, the foreign lobby is more numerous, more powerful and stronger than our national lobby. If the American people, really, really knew what goes on in those halls and in the Oval Office, they simply would revolt, kick the self-centered, self-serving bureaucrats out office and/or relocate the country's capital to better amber waves and begin again!

I say all that to introduce this next piece in the blog - MONEY IS THE CANCER. I've blogged about this repeatedly. We have lost the cornerstone of our wealth, our jobs, which have been off-shored and outsourced to other lands, while the corporate execs bailout with golden parachutes after a few years of driving stock prices by any means possible. The financial bubble cracked - it had to. Now, it's swelling up again - money is being floated into refinancing corporate debt, etc, and the process is already repeating itself. There will be another bubble burst. This time - it'll be completely more devastating. Unless, we take dicisive measures, we can count on it happening.

First, we must take the purse money away from the politicians. Without that, anything else will likely be moot. And, that is and will be the hardest thing to resolve, but the most imperative! Secondly, we must take new positions on global trade and protect our own sovereignty. And lastly, we are indeed going to have to embrace some new changes - changes that will propel us laterally with the aforementioned areas that will better insure our futures - things truly like finding new alternatives for energy and better conservation practices; but, not through governmental mandates and bureaucracies - and, instead, through the free markets. When that happens, we will once again accelerate our success and serve as the beacon we have been, for the entire world to follow.

If we don't do these things to get our financial house in order and protect our sovereignty as a nation and a people, we will soon find ourselves suffering the consequences. Again, keep in mind - the key word here is "unsustainability" and that is where the attention must turn. Again, imo, there can be no "jobless recovery" with 500,000 losing extended UC benefits and that total expected to climb to 1,500,000 by eoy. In years past that total has never reached even 50,000. Yet, the POTUS and his sorted entourage with their ultra-left liberal agenda insist on loading up future generations with gargantuan amounts of debt with which we have no ability to repay - not now, nor anytime in the foreseeable future. They refuse to and are incapable of addressing the concerns that must be addressed - growing the economy by renegotiating or revoking our crippling trade agreements - the only way to grow the tax base without loading more and more burden on fewer and fewer hard-working, tax-leveraged citizens.

Things must be done to encourage economic growth and expansion. There must also be some very serious, very pain-staking measures taken to cut spending. Every measure Congress and the POTUS are taking produces exactly the opposite of what this country needs! Certainly, it makes me wonder - no; really, it exposes and confirms their socialistic agenda to remake what we've known as the "land of the free" into something we no longer recognize. (There will be a couple of initial posts in the comments section from the last blog, in case you missed them, and I encourage you to read and consider them. Enjoy the blog below from "Economy In Crisis", read it, soak it in - it is one of the true sources of our problems; and, the author's opinion could solve many of them! Thanks! :)

Oh, and just maybe, I don't have my hopes real high; but, if some of you lethargic liberals will actually take the time to discern, learn and ingest this information, you might actually see where some are coming from that have actually vetted our situation and have solid solutions, instead of more of the same old, tired, "smoke and mirror" bureaucratic Washington politics and tom-foolery! ;)




MONEY IS THE CANCER

The President’s address to Congress on health care looked like a home run -- until he got to costs – and then the ball hit the back fence and dropped into the field. Paying for reform by eliminating waste, fraud, and abuse in health care is the typical cop-out. I served on President Reagan’s Grace Commission to eliminate waste, fraud, and abuse in government. We saved a lot, but President Ronald Reagan added a trillion dollars to the national debt.

We submitted the solution of a value added tax to the administration weeks ago, but Axelrod still has the president campaigning for the money. All we have to do is eliminate the corporate income tax and replace it with a 5% value added tax. A 3% VAT replaces the revenues from corporate tax, 1% more pays $1.3 trillion for health care, and 1% more brings in enough revenue to start paying down the debt. With the average corporate tax at 27%, the 5% VAT cuts taxes by 22% for domestic sales and eliminates taxes for Corporate America’s exports. This immediately removes the 44% tax advantage to off-shore Corporate America’s production and jobs to China. China has a 17% VAT so that U. S. production pays an average of 27% corporate tax and, when its exports reach Hong Kong, China adds its 17% VAT – for a total of 44%.

With a 5% VAT the U. S. begins competing in globalization, which is nothing more than a trade war with production looking for a cheaper country to produce in. But Corporate America would rather not compete in globalization. It can produce in China for a guaranteed profit as a CEO sits on the 38th floor on Sixth Avenue in New York checking quality control on the internet, while his profit increases in China. The CEO has three years to get his stock up on Wall Street for his bonus and golden parachute. Some now, like GE, would like to produce in the United States and create jobs. But Corporate America’s CEO is not about to limit his profit by competing in globalization and losing out on his bonus and golden parachute. Corporate America would rather pay the corporate tax and oppose the VAT. And Corporate America, Wall Street, the financial houses, the big banks, furnish the money for campaigns. So the present policy in Washington is to off-shore production and jobs -- not create jobs.

The Princeton economist, Alan Blinder, estimated in February 2007 that in ten years the U. S. would lose thirty to forty million jobs to offshoring. This is an average of three to four million jobs a year – which we are exceeding. The President’s stimulus creates at best four million jobs in two years. We’re losing more jobs to offshoring than we are creating. But Wall Street, the big banks, the Business Roundtable and the U.S. Chamber of Commerce love those Chinese profits and oppose the U.S. competing with a VAT. Congress, which needs the contributions from these financial interests, refuses to introduce or even consider a VAT. Money is the cancer on the body politic. It can easily be excised with a one-line Constitutional amendment that “the Congress is hereby permitted to regulate or control spending in federal elections.” This is what we intended in a bipartisan vote in 1971 and 1973 before the Supreme Court discovered that money is speech. With a Constitutional amendment, Congress could limit the money, limit the fund-raising for money, limit the time Congressmen and Senators spend traveling the country for money and limit the influence of the lobbyists and Corporate America.

I worked with Corporate America for thirty-eight years trying to protect their investment, production, and jobs in-country. But now Corporate America is interested in its investment and the economy of China. In globalization you can’t manufacture for a profit in the United States -- Corporate America has been moved to China or India. Article I, Section 8, of the Constitution says it’s the duty of Congress to regulate trade. Congress could put in a VAT in place of the corporate tax and begin regulating trade and creating jobs. But jobs and health care – and the economy – are all sacrificed for campaign contributions. “Free trade and get the money” is the only bipartisanship in Washington.


Please help DEFEAT CAP & TRADE in the US Senate here!





...seems the tropics are hardly over at this point, near peak of season!

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The 2009 Hurricane Season is not over just yet! We reached the peak of the 2009 Hurricane Season on September 10th, so, more than 1/2 the season remains. Get a plan, if you don't have one! Take it seriously. Have a plan "B" and be ready to execute. Talk with your neighbors. Call your friends and relatives and discuss plans with them. Remember the elderly, indigent and handicapped. Remind them all of safety precautions and evacuation plans. Have a destination and a second possible destination. Exchange plans, numbers and destinations. Ask others to pass the idea around.

Of course, local authorities will be the best resource for information and action plans. Listen to them and encourage others to listen as well. These small efforts can have a large effect on the safety of people’s lives. You can make a difference! "Awareness, Preparedness and Safety" should be the game plan! Your comments and suggestions are welcome.

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Reader Comments

Quoting Ossqss:
Ummm, I missed this part :)

Scary stuff eh !

TEA PARTIES CANNOT WIN BACK THE REPUBLIC WITHOUT THIS INFORMATION


Many are now finding non-elected regional governments and governing councils enforcing policy and regulations. As these policies are implemented, locally-elected officials are actually losing power and decision-making ability in their own communities. Most decisions are now being made behind the scenes in non-elected "sustainability councils" armed with truckloads of federal regulations, guidelines, and grant money.

The politically based environmental movement provides Sustainablists camouflage as they work to transform the American systems of government, justice, and economics. It is a masterful mixture of socialism (with its top down control of the tools of the economy) and fascism (where property is owned in name only - with no control). Sustainable Development is the worst of both the left and the right. It is not liberal, nor is it conservative. It is a new kind of tyranny that, if not stopped, will surely lead us to a new Dark Ages of pain and misery yet unknown to mankind.



Thanks, Oss, for the centrally-derived enlightenment. I think many of us know this is where we've been headed for some time now. It's good to see it stated clearly, centrally and succinctly.
...right out of Ricky Rood's "Crap & Trade" blog!

Public Health Challenges in India

It is this development of societal resilience and/or adaptive capacity that is the focus of those who are planning for expected impacts of climate change. In many places, planning for climate change becomes linked to planned or needed development projects; that is, projects that are needed to develop basic infrastructure and the capacity to address existing problems. This linkage between development and adaptation to climate change is a growing concept; it makes sense, and does not appear as a risky investment.

This is an approach that works in the case where climate change poses an incremental change to an existing problem. A more difficult problem is when climate change might lead to vast changes or the emergence of new problems. For example, there are many millions of people in South Asia who live and grow their crops in low lying river deltas. There will, with certainty, be more intrusion of salt water into these regions, which will not only displace people, but it will ruin agricultural land. There are also diseases such as dengue fever, for which explosive spread might be possible. (Here’s a link to dengue in Mexico to bring it a little closer to home.)

This trip to India changed my perspective on climate change – it made it far more real. For the country as a whole, Indian agriculture is highly sensitive to the climate and the onset of the monsoon. The bulk of the water comes in a relatively small number of days of precipitation. River flow is highly seasonal, and it will become more seasonal, higher high flows, and lower low flows, because of changes in snowpack in the northern mountains. This natural sensitivity sits together with a large population and a large portion of this population that is highly vulnerable to their environment. This vulnerability ranges from exposure to contaminants and pathogens, to sensitivity to crop failures, to exposure to extreme weather and coastal flooding. The consequences of climate change in India, Pakistan, and Bangladesh will be significant and will have international consequences. Tough problems will be made tougher.






....go figure!
Hi Cowboy....

Slipping in under the political radar just to give you a big hello!

and G'night! LOL
Hey, BFoxx! Have a good sleep!

btw, hulluva nice-lookin' avatar! ;)
The Fine Art of American Protest

What is significant about the Saturday, September 12, 2009 march was the totally grassroots nature of the event. It was billed as a "Tea Party", a name taken from the rather spontaneous tea party events that occurred shortly after Congress went insane and started spending billions of taxpayer dollars on bailouts, the takeover of General Motors, ownership of an insurance company, and a huge so-called "Stimulus" bill.

With the economy heading south, Americans quickly and correctly concluded that the Democrat controlled Congress and the new President were taking the nation over the cliff with their spending, borrowing, and printing of dollars.

September 12, 2009, however, was a protest against President Barack Obama.

Second and third in line for public protest were Speaker of the House Nancy Pelosi and Senate Majority Leader Harry Reid. Having achieved total political power, the President and Congress had generated a massive grassroots resistance barely seven months into his term.

On Saturday Americans from around the nation gathered in Washington, D.C. to demand that the U.S. Constitution be obeyed!

The U.S. press initially described the crowd as "tens of thousands" It was so big that, by evening, even the Capitol police had not yet released an estimate of its size, but British press observers pegged it at two million!

America was born in protest and a new generation is carrying on the tradition. It is not an idle thing. They could have gone to a football or baseball game. Instead, they came to Washington, D.C.

Only fools would dare ignore them.
As many as 2 million protesters attend 9/12 Washington, D.C. Tea Party Rally
September 13, 1:08 AM


Massive Tea Party on the Fed's porch ought to get their attention!
September 13, 8:33 AM


Here is a new one on me : Quote

"Apparently, it wasn't the mandate to complete the Obamunist take-over of the American economy that they so giddily assumed. Oops."

LoL


Long-Term Unemployment Unprecedented

The current recession has been by far the most severe of the past five decades. Already the longest and deepest since the Great Depression, the rate at which the economy has deteriorated has been unprecedented, according to a study conducted by the Economic Policy Institute.

Comparing the first 19 months of the current recession to those of previous economic downturns, the EPI found that the unemployment rate has risen more rapidly, jobs have disappeared faster, those without employment have remained as such for much longer and employees typically sheltered during recession have been more susceptible to job loss.

Non-farm payrolls have also fallen at an unprecedented rate for the post-Depression economy. Non-farm payrolls have fallen by 6.7 million, or 4.8 percent, through the first 19 months of the current recession. To demonstrate how remarkable that is, in the midst of the recession of the late 70s and early 80s, by July 1981 the economy had lost just 2.9 percent of total jobs.

The steep job losses of the current recession have left the nation’s unemployment with very few options. Just to keep up with population growth, the U.S. economy needs to create 127,000 jobs every month. During the first 19 months, the economy should have created roughly 2.5 millions jobs to keep pace with population growth. According to the EPI, that puts the U.S. economy 9.1 million jobs below pre-recession levels.

That has left nearly six unemployed workers per job opening in June. At the start of the recession in December 2007, there were just 1.7 unemployed workers per job opening. That has led to long-term unemployment rising exponentially. Nearly one-third of the unemployed - 32.5 percent - have been without a job for at least six months.

Those fortunate enough to retain employment are struggling to keep their hours as well. Aggregate weekly hours has fallen 8.8 percent in the first 19 months of the year, more so than any previous recession since the Great Depression. In the first 19 months of the 1972 to 1973 recession, aggregate weekly hours fell just 7.6 percent.

Those who have had their hours cut involuntarily or given up on looking for employment - underemployed workers - have risen steadily since the beginning of the recession, with the current national underemployment rate at 16.3 percent. That leaves 26 million people - one in six American workers - underemployed as of June. The number of workers involuntarily now working part-time has risen 90 percent to 8.8 million in the first 19 months of the current recession.

While some may be forecasting that the recession already has or is very close to bottoming out, the aforementioned data and a new unemployment report by payrolls firm ADP suggests otherwise.




And, when you consider that UC benefits have been extended, but with those benefits running out for another 1.5 million by the eoy, that is only going to add additional stress for more borrowing. The exponential increase is due to unsustainability. We no longer generate enough wealth, because of offshored and outsourced jobs, to take care of our own. And, that cycle can only perpetuate itself more exponentialy as time marches forward. Until, we take prudent, sure steps to create jobs here, on our soil, the economy will continue to deteriorate and contract further.
Yup, Oss, it looks like even conservative measure would put attendance up over a million. Funny, how the liberal MSM downplays it though.
Temporary Rebound In Consumer Sales Coming Up

Economists now estimate ‘Clunkers’ Probably Boosted Retail Sales.

49% of the clunkers rebates went to Toyota and it is cutting production. GM is ramping up production again. I suspect GM will soon regret it.

One reason home sales are up is $8,000 tax credits that people can use for down payments.

The moral of the story is: if you give enough money away people will spend some of it it, at least for a while. However, those that just bought a car would not buy another one nor would those who just bought a house buy another. Artificial stimulus can shift some demand forward, but not an infinite amount.

There was a small amount of pent-up demand but that is quickly wearing off as a result of these programs. Nonetheless, GDP is going to be green in the third quarter. Perhaps the NBER even declares the end of the recession.

Get your party hats and horns ready to celebrate the end of the recession. Then be prepared to quickly take them off. A double dip recession is baked in the cake.



.....hhhhmmm, seems we've hashed this one out prior, and well, guess what - coming to fruition!
....hhhhhmmmm, apparently the Chinese didn't like our trade salvo that Obama hurled at them on Friday! Now, they are "probing dumping" allegations! That's funny. Can anyone say "pot calling the kettle black?" ;P



China Probes ‘Dumping’ of U.S. Auto, Chicken Products (Update1)

Sept. 13 (Bloomberg) -- China announced a probe into the alleged dumping of American auto and chicken products, two days after U.S. President Barack Obama imposed tariffs on imports of tires from the Asian nation.

Chinese industries have complained that they’re being hurt by “unfair trade practices,” the nation’s Ministry of Commerce said on its Web site today. The ministry is also looking into subsidies for the products, it said. It didn’t specify the imports’ value.

The European Central Bank said last week that rising protectionism may hamper world trade and undermine the global economy’s recovery from recession. The U.S. placed tariffs starting at 35 percent on $1.8 billion of tire imports from China, backing a United Steelworkers union complaint against the second-largest U.S. trading partner.

“While there’s friction, I suspect that the two nations will keep any disputes under control,” said David Cohen, an economist at Action Economics in Singapore. “They understand that they’re increasingly dependent as trading partners.”

Dumping is selling goods for less than the cost of producing them.

China’s commerce ministry said yesterday that it “strongly opposes” the U.S. decision on tires and may refer the case to the World Trade Organization.

‘Retaliatory Spiral’
An interesting thing on the clunker item is that many could not afford to do it and did anyhow. Even worse is the fact that dealers sold the vehicles for more money under that program than they typically would. They sold the cars at list vs a negotiated lower price. Effectively cutting the value of the tax dollar incentive in half. So those who got our tax money are financing about $2,000 more than they should. (I posted several studies on this subject several blogs back) I believe that about half of the 700,000 cars will be taken back within a year of the purchase by creditors. Reminds me all too much of the housing crisis. People buying things, when they can't really afford it. Get ready for the clunker bailout. LoL

There will be significant ramifications by virtue of creating or pulling that many car sales forward with an incentive like that. Let alone other imacts -

How Cash for Clunkers will screw up the CPI



Happy NFL Sunday ! :)

L8R
13. Yes, Oss, you've vetted the clunker scenario for us very well, thanks.

I'm guessing that mid-ways through the last qtr or certainly into 10's 1st qtr we're going to hearing "cash burn" again in a major way. I keep waiting to hear that news, sooner than later, from Ford. I can't imagine things being much rosier on that side of the fence either.
We haven't heard nearly the last from this big, ugly fella!




AIG Downgraded By Wells Fargo on Government Reliance (Update3)




Sept. 11 (Bloomberg) -- American International Group Inc., the insurer selling assets to repay a government loan, was cut to "underperform" by Wells Fargo & Co. because of the company's reliance on the federal bailout.

"Absent government support, the company would be out of business," Wells Fargo's John Hall said in a note today on the New York-based insurer. "The U.S. government owns almost 80 percent of AIG. The rest of us are just along for the ride." He previously rated the stock "market perform."

Hall follows Sanford C. Bernstein & Co.'s Todd Bault and Thomas Gallagher of Credit Suisse Group AG in advising investors this month to sell AIG shares after the stock tripled in August. The insurer's obligations tied to the $182.5 billion bailout exceed the market value of the company's businesses, Hall said.

"A reasonable case could be made that the company has virtually no tangible book value," Hall said. "Maybe that will change in the future if AIG earns its way out of its troubles. However, we think that scenario is probably a remote possibility in the distant future and should be deeply discounted."

AIG posted net income of $1.82 billion in the three months ended June 30, the insurer's first profit in seven quarters. The company fell 30 cents to $37.55 at 4:15 p.m. in New York Stock Exchange composite trading.

The insurer owes more than $38 billion on a Federal Reserve credit line and has announced asset sales of about $9.8 billion. AIG had to use $2.4 billion from two of its largest divestitures to shore up a property-casualty unit instead of paying down debt because of requirements from ratings firms and regulators that monitor the company's ability to pay policyholder claims.


AMER INTL GROUP NEW(NYSE: AIG)

After Hours: 37.01 -0.54 (-1.44%) 7:59pm
1y Target Est: 16.67
52wk Range: 6.60 - 308.00

AIG has shown about 20 months of losses with several of those propped up by taxpayer loans, recording a $99,000,000,000 lost in 2008.

Combine that news with 30 PERCENT of trading volume on Thursday was between FOUR companies who received bailouts:

1. AIG
2. Citigroup
3. Fannie Mae
4. Freddie Mac

And, if AIG is any idicator with heavy 'call' selling (a bearish indicator) it ould suggests that the market rally may likely not hold up.
I've thought this before and I dismissed due to my aging, failing memory; but, I want someone to tell me how how AIG closed on Friday, February 27, 2009 at a measely 47 cents per share; and yet, the NYSE shows their 52wk Range price between low and high prices of $6.60 - $308.00. In fact, if memory serves me, the stock actually traded as low as 16 cents and the ticker symbol was never removed or changed from the exchange.

TIA, if you can answer or speculate! ;)
A "Wells Fargo" downgrade of AIG? Where is Standard & Poor's and Moody's?
Prosecutors preparing to impanel AIG grand jury-WSJ

Sept 11 (Reuters) - U.S prosecutors are preparing to impanel a grand jury to consider indicting the former head of American International Group's (AIG.N) AIG Financial Products unit for securities fraud, the Wall Street Journal reported.

The Department of Justice and the Securities and Exchange Commission have been investigating whether Joseph Cassano overstated the value of mortgage-related contracts and failed to disclose material facts about them to AIG's outside auditor, the paper said, citing people familiar with the matter.

The planned jury also could weigh charges against other employees of AIG, the newspaper said.



Wow! All I can say is that these are some really "fast" prosecuters! Oh, need any ocean-front property in Arizona? ;P
it's not the money - it's the humans.... it's GREED
FYI - The march in Washington was not on the front page of my newspaper.... it was on the inside..pg#3

the front page headline stated that Real Estate was recovering in SRQ (NOT)
Quoting surfmom:
it's not the money - it's the humans.... it's GREED


Agreed, SM. Until we cut the link between lobby and political campaigns, we won't get out of this downward spiral imo.
Quoting surfmom:
FYI - The march in Washington was not on the front page of my newspaper.... it was on the inside..pg#3

the front page headline stated that Real Estate was recovering in SRQ (NOT)


We're seeing some "temporary" consumption, generated by the "temporary" stimulus - that is all. Nearly every indicator still points towards real contraction, the least of which is not the unemployment figures.
Came across this. Found it interesting.

The six degrees of separation within American socialist organizations.

http://libertychick.com/2009/05/08/rathke-acorn-seiu-the-tides-foundation-oh-my/
"Greenspanism" the Root Cause of this Depression

Bernanke, Geithner, and others have stated the biggest mistake in this depression was the failure to rescue Lehman. I have long disagreed, instead declaring the Bankruptcy of Lehman was one of the few things the Fed got right, even if by accident.

Ambrose Evans-Pritchard has similar thoughts in Lehman is a footnote in the great East-West globalisation crisis.

----------------------------

As my colleague Jeremy Warner puts it, Lehman no more caused the economic convulsions of the last year than the assassination of an Austrian prince caused the First World War. There was the little matter of a rising Germany then, and a rising China now. Both scrambled the international system, albeit in different ways.

As of last week, the ABX index of sub-prime mortgage debt showed that AAA-rated securities from early 2007 were trading at 28 cents on the dollar – AA was at 4 cents, near all-time lows. No one can say that $2 trillion (£1.2 trillion) of sub-prime and Alt-A debt is still trading at panic levels, exaggerating losses. The dust has settled. What we can see is that creditors will never recoup their money.

Foreclosures reached 358,000 in August alone. More Americans are being evicted each month than during the entire Depression year of 1932.

We know why the bubble occurred. Call its Greenspanism. Central banks rescued assets each time there was a hiccup, but let booms run unchecked. They pulled "real" rates ever lower, creating addiction to monetary stimulus. Larger doses were required with each cycle, until we hit zero, and it is still not enough. Debt burdens rose to records across the OECD.

Couldn't they see that this was cheating: stealing from the future? No, they were seduced by "inflation targeting" – watch goods, ignore assets – just as cheap imports from China rendered the doctrine obsolete. It always takes ideology to consummate massive error.

China is trying to plug the gap, belatedly, by ramping up credit 70pc this year, but it will take a cultural revolution to induce the Chinese to spend. The liquidity is leaking into stocks, metals, and property.

The Great Game can continue only as long as deficit countries – currently, US (-$628bn), Spain (-$109bn), Italy (-$62bn), France (-$58bn), Britain (-$53bn), Greece (-$42bn), and east Europe – are willing to bankrupt themselves buying Asian goods. Obviously, this is absurd.

----------------------------

Absurd is correct.

China, in spite of all those misguided souls who believe otherwise, is not close to decoupling. Proof is easy to find in China's need to ramp up credit and force banks to lend.

In the US, Great Britain, etc, the "Great Game" depends not on US consumers who long ago threw in the towel, but on stimulus packages that shift the demand curve forward. As soon as the stimulus runs out so will purchases.

An economic relapse is coming as sure as night follows day.



...or, it may come sooner if Treasuries become more difficult to pawn.
Quoting spathy:
Came across this. Found it interesting.

The six degrees of separation within American socialist organizations.

http://libertychick.com/2009/05/08/rathke-acorn-seiu-the-tides-foundation-oh-my/


Oh, man, what an AWESOME find, spathy! This is dreadful!

Total for Barack Obama
from SEIU [COPE] $27,853,102.00



AND, this is JUST one, just through SEIU!


I've been reading, linking, mapping since you posted this - unreal!

To quote:

How can we allow Congress to continue denying the taxpayers an investigation into this behavior? Since many of them are the recipients, how else can we get a Justice Dept. investigation?


These organizations, effectively, used taxpayer money to support Obama! This is a crooked as it can be! Talk about of a "House of Cards" - whoa! This should bring a slew of them down, including the POTUS!

Watergate, Whitewater, Blackwater - all have flowed under the bridge and, comparatively, will be nothing like the illegal "hot water" Acorn and associates should be finding themselves in soon!

Dayumed good find, spathy! Thanks.
The BaRockStar is going to wind up being an embarrasment to the country and to his race! I think he's trying to shove all this brandishing legislation through at gun point (more or less) so it can be implemented before he's "found out" - before, it's all linked to him.

This creep makes Richard Nixon look like an angel!
I'll bet there is "some kind of" appointments going on in the Department of Justice right now! They're happening so fast it'd make your head swim!
MLC.
I have been trying to back up some of this info but I suck at winding down to the sources unless they are directly listed.
I am still reading in between gardening rests.
I thought you might find a wealth of info there if you weren't aware already of this site.
I saw this video for the first time today and to keep from laughing out loud so that I could hear the lyrics..this is just too funny..another great satire from TK..


- spathy, no, I haven't seen it, but it prompted me to start a new ACORN folder for favs. Thanks. More to come on this subject.

- ((ALLY))
, girl, yup Toby Keith is alright, but it'll have to get up and go to beat this one: I Love This Bar! Hope your Sunday is sweet! :)

Should Justice Investigate ACORN?

On Thursday, two ACORN officials in Baltimore were fired for offering to help a man and woman posing as a pimp and prostitute to engage in child prostitution and a series of tax crimes. On Friday, after another secretly shot videotape surfaced showing the same couple getting similar advice from ACORN officers in Washington, the officers were also fired. In light of these developments do you feel the Justice Department should launch a full investigation into the group's dealings and leadership?



Dayumed skippy!

...and apparently 99% or about 198,880 other folks do as well since this poll question came out!
Quoting spathy:
Came across this. Found it interesting.

The six degrees of separation within American socialist organizations.

http://libertychick.com/2009/05/08/rathke-acorn-seiu-the-tides-foundation-oh-my/



Well now I know who fed Glenn Beck the information on ACORN!!! It is amazing the depth of the corruption involving ACORN. and still no RICO style investigation....

All the libs around here will attack the messenger, whether it is a big fish like Beck, or the small fry such as MLC, or myself.... But these SAME libs NEVER address the corruption, and those that benefit from the ACORN corruption... Hell, the Libs have never caled these reports inaccurate!!!
Quoting GetReal:



...small fry such as MLC?


Huh? Moi? 6', 212 lbs of pure hell when I need to be! ;P

Other than that, GR, your post is spot-on, friend!
Somehow, I recall over the last two POTUSs, that there was a huge number, a surprisingly high number, of empty seats in the Justice Department - judges, prosecutors, etc. I'll bet that's not the case now and, in fact, I'll venture to wager (and, I'm not a wagering person) that these posts are being filled quicker than a cat can...well, I think you know the rest!

Since inauguration day, there's been some hulluva insulation-making going on, I'm sure.
after all these years, we should have learned from the Bible that the messenger is that one who gets crucified - just look at Jesus for a start and then his disciples...
37. Nicely stated, Ally. Exactly.
...from RGE Monitor:


U.S. Trade Deficit: No More Room to Shrink?

- The U.S. Trade deficit widened by 16.25% m/m, most since February 1999, to reach US$32.0 billion in July 2009. The real trade deficit widened to US$38.8 billion in July from US$35.7 billion in June. The non-oil deficit widened to US$23.4 billion in July 2009 from US$19.8 billion in June while the oil deficit rose by US$0.6 billion to US$17.8 billion in July. (U.S. Bureau of Economic Analysis).

- The services surplus fell US$0.1 billion to reach US$10.7 billion in July 2009 while the goods deficit rose by US$4.3 billion to reach US$42.6 billion. (U.S. Bureau of Economic Analysis).

- Goods imports rose 5.7%, while goods exports rose 3.2% in July 2009. Imports of consumer goods, capital goods and industrial supplies including crude oil increased in July, as did imports of automobiles and parts, reflecting the boost to auto production from the "cash for clunkers" program. Exports of autos, capital goods including aircraft, computers and semiconductors and industrial supplies rose in July. (U.S. Bureau of Economic Analysis)

- Trade gap with the OPEC countries, Europe, Canada, China and Mexico widened in July 2009 while trade with Hong Kong, Australia, Singapore, and Brazil resulted in a surplus in July. (U.S. Bureau of Economic Analysis)
Sal Guatieri, Senior Economist, BMO Capital Markets: "The big (and positive) surprise in the report is that imports surged 4.7% (and 5.3% for real goods) amid broad-based gains. While the cash-for-clunkers program likely drove a 21.5% jump in the auto component, other consumer goods imports also rose sharply. This could signal a nascent upturn in general consumer spending." (September 10, 2009)

- Senior Economist Richard Kelly, TD Economics: There are early signs that the de-accumulation of business inventories in the U.S. has reached a bottom. A rebound in U.S. imports is likely to be over the second half of 2009, even with lingering frictions likely to remain in credit markets for some time." (July 10, 2009)

- Analyst Julia Coronado, BNP Paribas: "As the pace of the inventory correction slows trade may be less of a positive factor for GDP" (August 12, 2009)

- Stephen Stanley, RBS Greenwich Capital: "There are already anecdotal reports that trade flows are starting to stabilize, albeit at depressed levels...The real trade balance will be relatively steady in the next few quarters. Once the economy begins to return to health in earnest (mainly a 2010 story), the trade deficit will likely begin to re-widen." (via Real Time Economics Blog, WSJ, May 12, 2009)

- U.S. imports and exports of goods and services peaked and began falling in July 2008, with the shrinking of global trade. But imports are now getting a boost from higher oil prices and might improve further from inventory re-stocking in late 2009 and early 2010. Improving global manufacturing activity has led to a boost in exports. But lower U.S. imports are hitting export-oriented economies which in turn is putting pressure on demand for U.S. consumer exports.

- In Q2 2009, the pace of contraction in imports and exports eased significantly compared to Q1 2009. Exports fell 7% compared to 30% in Q1. Imports fell 15% compared to 36% in Q1. During the recession, imports fell at a much faster pace relative to exports in most quarters leading to a positive contribution of net exports to GDP growth. Trade contribution to GDP growth was 1.38% in Q2 2009 compared to 2.64% in Q1 2009. Net exports have contributed positively to GDP growth since Q2 2007 (except for Q3 2008). (U.S. Bureau of Economic Analysis)

- In the short term, the rest of the world is dependent on the U.S. to drive demand so that consumption abroad will be unable to offset the decline in U.S. consumption. As a result, the U.S. will be unable to use exports as a way to boost GDP growth. But in the medium-term, as incomes and consumption grow in emerging markets, U.S. firms might export to these markets and help offset the decline in U.S. consumption in the coming years.

- Economist Joseph G. Carson, AllianceBernstein: The deterioration in the U.S. trade deficit since the late 1990s is due to "a historic supply shift in which imports of manufactured goods have replaced domestically produced goods en masse." A weak competitive position will lead to closure in manufacturing operations and insufficient manufacturing scale will reduce the benefits of a change in the terms of trade that could boost exports. Since renewed U.S. advantage in some labor intensive industries seems unlikely, the U.S. must concentrate on promoting higher value-added and capital-intensive industries.
...straight from Dr. Doom himself, Nouriel Roubini


Spot-gold = $1005.70

".straight from Dr. Doom himself, Nouriel Roubini"

help

I can't open those things, and can't hear even if I did.

What'd he say? Cliff's version
If gold is up, the dollar is usually down. I need to run a dollar comparison - been a few months since I've done that. When the dollar is down, crude oil usually creeps higher.

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I see it's down, now, but I would speculate some increases soon.

One thing that may be keeping oil down is the diminished world shipping-trade. With so many cargo ships out of commission, there is obviously less demand for oil.
Quoting moonlightcowboy:
The BaRockStar is going to wind up being an embarrasment to the country and to his race! I think he's trying to shove all this brandishing legislation through at gun point (more or less) so it can be implemented before he's "found out" - before, it's all linked to him.

This creep makes Richard Nixon look like an angel!


what side of it...his white side or his black side?
Aub
Both and neither.
Aub, you've got WUmail.
Aub, the man is haled as the 1st African-American US President. I'm referring to that. When the dust settles and the smoke clears, and it will eventually, it's going to be a big disappointment to those that supported him, especially African-Americans who supported him, largely because he was touted as the first African-American to earn or win the position.

Frankly, I could care less about the color of his skin. If he is a crook, a fraud, etc - that's what he is. I am a color-blind crook loather - now, that you can take to the bank!

I want that person, that crook to be seen for what they are and get the justice they deserve. Heck, I wanted to believe what he was saying during the campaign - I really did. But, I also knew better. I looked harder, vetted deeper and understood more of who this guy was and was not. It had nothing to do with his skin color.

Could it be an anomaly that he rose from being virtually unknown in such a short time with very little comparative accomplishments? Could be. Is the man that brilliant? Could be. But, I wouldn't bet on it! Not for a minute. Too much is coming out, already, and beginning to reveal who and what this man's volitions truly are and what and who he represents.

The fact that he is of the African-American "self-touted" race is immaterial; however, it is saddening that so many, particularly African-Americans, had such grand visions for him and his agenda. Unfortunately, that bubble is going to burst all too soon.

Heck, I could be wrong. I hope so. I still want the man to succeed - succeed in restoring a health economy, a solid sovereignty - I do, I really do. I'm just not being dumb-founded, and mesmerized by all the rhetoric, smoke and mirrors. I can see and think for myself. I don't watch the TV news shows or listen to talk radio very much. Now, I know you don't believe that, but it's the truth. Yeah, sure, now and again, once in a great while, I'll catch a program, but it's fairly rare.

IMO, one has to wade through all the BS anyways (that's what most of it is anyways) and discern the simple, basic truths. Then, the trick is to try and figure where that basic, simple truth (or lie) goes from there!
MLC...ban me I am finished with your one sided opinions...I have posted just news on here and pissed you off...if it dosent fit your agenda it dosent fly ..I dont have the time...
I will do all I can to show you for what you are...count on it!
you can ban me but I can still read and copy and past about what you post and who you ban for their opinion and I will...its my mission now
you called me down on Wilson for no reason...I was posting from FOX for Gods sakes...and you said dont put him down on your blog...but you can put my Prez and his office down on mine?move if you dont like it here!
real AMERICAN YOU ARE!!!
Racialism is the cancer by the way...then money
yahoo, there it is.

I was about to message you to remind you that you forgot
to call MLC a racist.

But there it is.

Hey, look on the bright side.
Now you can post on everyone's blogs that MLC
banned you for no reason.

Quoting latitude25:
yahoo, there it is.

I was about to message you to remind you that you forgot
to call MLC a racist.

But there it is.

Hey, look on the bright side.
Now you can post on everyone's blogs that MLC
banned you for no reason.



No he has reason..but you didnt!
No more than you did my dear. ;-)
what would you people do without your ban button...???...cant take the truth...so we ban...disagree ban...bless you all!!!
I wouldn't ban you for the world.

There's nothing like a good victim for entertainment
value alone.
LOL, that's funny, Aub; but, as I suspected, you're just trying to start trouble. This blog doesn't do trash-mouth! You probably just did earn yourself a ban.

You say, "I" am the root of problems in this country? LMAO - I work hard, always have, pay taxes, raised my children right, contributed money and time - lots of it in the past. And, I believe and follow the good Lord above and pray for lost souls and those in need. And, it's not a "my way or the highway" kind of thing - it's a thing about what is economically feasible, sustainable and protects our sovereignty as a nation. That's what you and others don't see, what you don't get. So, don't discount what you don't know or don't understand. And, I'm not trying to bring "anyone" down - except the crooks and liars that spend taxpayer money foolishly, selfishly and just damned wrongly - no matter their skin color.

If we don't get this country back on good, solid financial ground we're going to lose everything we have. Lose everything so many have worked so hard to achieve. Lose everything that so many have died for.

I'm not the enemy, Auburn.

I let your Wilson jab stand. It was not removed. The rules say jabs at officials are allowed, no matter the political official or party. I'm an equal-opportunity jabber. I jabbed Bush, just like I am going to jab at Obama. I jab the Republicans, just like I will continue to jab the Democrats. And, like the rules say, don't come in here with the total blame game either - it's all of them.

Aub, have you actually read the blog rules?

You're welcome in my blog as long as you're not trying to stir the pot and start calling me and other bloggers in this blog names. You're welcome to post your opinions, provided, they are void of personal remarks. Oooops, I see you've violated those rules a couple of times already now! Hhhhhmmm.

You're welcome to post different news and other things that you may deem as contradictory with my posts. If I post something, and you find something that can refute it, post it. I gladly welcome it.

Anything outside of that, though, other than cordialties will get you get banned. I want put up with the kind of crap like you entertained and perpetuated last night in your blog or the one that bama4obama so ridiculously displayed today. All of that is just very childish, very immature and totally evades the discussion of any issues and destroys furthering any fruitful discussion.

If you want to play better tennis, play with a better tennis player! Figure it out!
PLEASE ban ME!!!I am no better than the rest you have baned..and I will speak my mind on your blog...if you cant take that...ban me now...but you will know I am here no matter
Quoting auburn:
PLEASE ban ME!!!I am no better than the rest you have baned..and I will speak my mind on your blog...if you cant take that...ban me now...but you will know I am here no matter


If you personally attack anyone else or myself in this blog you will be permanently banned. I'm tired of trying to plead to what I have thought was your better sense of judgment, Aub. I believe I've cut you ample slack. Now, shape up or ship out. I don't want that to happen, but if you continue, it simply leaves me no choice.
I dont attack bloggers...you know that...I post disagreements with YOU...you dont like that...I will contintue to tell both sides...if it makes my side look bad..or your side...thats what I post...you lie and I can right it...I will...I expect the same from you!
Quoting auburn:
...you lie and I can right it...I will.



Aub, you just called me a "liar" - that's a personal attack! Ok, are you reading? I'll try to state this simply and clearly. Post any disagreeing opinion you want, but leave out the name-calling and personal attack innuendo. No point "cloaking" something you're wanting to say - saying it surrepticiously doesn't "slide through" either. But, if you do, you will get banned.

Your Wilson post was a good post. I disagreed with it, but I didnt' take it down. But, neither was I going to let it turn into a railroad attack against the man either.

Now, that's about as simple and clear as I can make it. I will never again, put this much effort in trying to explain how it works in here again. I've already wasted far too much time on the subject. You're a grown man, a smart man - either abide by the rules in here or post somewhere else.

I call them like I see them...
LMAO! What a Sunday! I've been called a "racist" (again) and very sarcastically called a "REAL American" and God knows what else!

...bwahhhhhhaaaa. But, I'm the bad guy! LMAO!


Now, a liar - twice! I'm sorry, Aub. That does it. I wish, hope and pray for you the best in life. But, I'm done communicating with you for the time being. Maybe when you get whatever it is worked out in your head that's bothering you, we can talk civilly again.
Howdy, no disrespect to anyone, but here ya go.

Perception



I think Frank is singing to our administration. LoL



And he would be!
Hedging loses its lustre for gold

The gold industry’s legacy of forward sales is set to all but disappear by next year following the decision by the largest gold miner to buy back its hedges.

The size of the industry’s hedge book is set to drop to a residual of less than 200 tonnes by the end of 2010, the lowest in almost 25 years, according to industry estimates.

The reduction is a 95 per cent drop from 3,000 tonnes a decade ago.

The mining hedge book is important for gold prices. Bullion rose above $1,000 a troy ounce last week as investors sought refuge from dollar weakness.

When miners sell forward their production, they help push down prices. In 1999, their hedge book blew up to more than a year of mine output, flooding the market. Buying back the hedges since then has contributed to higher gold prices. As miners complete the buying back by late 2010, the hedge book will be a neutral force.

Miners sold forward their production to ensure a floor price, secure a stable cash flow and raise finance. But as gold prices have steadily increased from $250 in 1999 to more than $1,000 an ounce last week, the incentive has gone.



....I think we can interpret that as a signal. If anyone hasn't been paying attention, now, would probably be a good time to start.
Photobucket

LOL, I post about it, and the price goes down! Go figure!
Wheel of fortune turns as China outdoes west

China has emerged as the most significant winner from the global financial and economic crisis. At the end of 2008, many questioned whether China would achieve its growth target of 8 per cent in 2009. Who now dares to do so?

Cushioned by its more than $2,100bn (€1,440bn, £1,260bn) of foreign currency reserves, huge trade and current account surpluses and a robust fiscal position, Beijing has been able to deploy all its levers over the financial system and the economy.

Meanwhile, as one senior Chinese participant at the World Economic Forum’s annual meeting of “the new champions”, in Dalian, noted, “the teachers have made big mistakes”. Indeed, any visitor to Asia will recognise the west’s reputation for financial and economic competence is in tatters, while that of China has soared. The wheel of fortune is turning.
MLC, thanks again for bringing forward what many outlets don't. We live in a time of the unknown. Our future is very much in question, but I have confidence that America will figure it out. We have to ! L8R

Obama%u2019s decision on tariffs is calculated cynicism

Early in the administration of George W. Bush, the former president applied provisions of US trade law to levy new tariffs on imports of steel. The move, ultimately struck down as illegal by the World Trade Organisation, was a calculated and somewhat cynical effort to convince organised labour to be less opposing of the president's market-opening trade agenda. However, labour groups, notably steelworkers, were not appeased by the move, and fought each new trade deal with abandon.

During his presidential campaign, Barack Obama talked tough on trade, notably with China, and promised to stand up for American workers against other countries' unfair trade practices. Meanwhile, his campaign quietly reassured other countries of the candidate's appreciation for open markets and liberalised trade. "He's a free trader," said his economic advisors in hushed tones. "Don't worry."

So what are we to make of the president's decision to impose new tariffs on tyres imported from China?

The tough rhetoric of the campaign has largely vanished during the first eight months of the presidency, replaced by soothing assurances about the importance of fighting protectionism in the midst of the economic crisis. The president periodically perfumes the rotting corpse of the Doha round by committing to its successful conclusion in multilateral statements. Occasional rhetorical orchids are tossed towards pending free-trade deals with Panama, Colombia and Korea. Despite the change in tone, however, the trade agenda is mired in stasis; largely hostage to campaign obligations to Mr Obama's labour allies and other political priorities.

This is unfortunate. Commitment to multilateralism and an engaging humility has done much to convince other countries the president wants to reforge American leadership. Yet the world is still looking for tangible evidence that the US is genuinely committed to global economic recovery. Although the rhetoric has provided some comfort, the world (and particularly the developing world) is primarily scrutinising the president's actions (and inaction) on trade.

As the first major White House decision on trade, therefore, the levying of new tariffs on imports of Chinese tyres is not particularly heartening. To be sure, China is no angel in international trade matters. As everywhere, China's domestic politics complicate Beijing's economic policies and bedevil efforts of international negotiators to ensure a level playing field in cross-border trade. But this particular White House decision, taken through a process that is widely despised in China as uniquely discriminatory against that country, is no mere slap on the wrist for run-of-the-mill Chinese perfidies. This decision provides fodder for nationalist interests in China that will not just push for tit-for-tat retaliation against US economic interests, but play into a broader trend within China to roll back market-opening reforms. That could result in a back-and-forth battle of retaliatory trade measures which, given the importance of US-China trade relations to global commerce, will provide cheer to only the most parochial of interests worldwide.

Charitable, pro-trade voices might argue that the president had no political choice. Given the stalemate on trade policy in the US, the president had to give labour groups an early victory. It is certainly difficult to find an economic rationale for the decision. The domestic tyre industry has multiple alternative markets to China from which to import tyres that are more competitive than the US, absent a dramatic restructuring of our industrial base. We may import fewer tyres from China, but this decision is not going to jumpstart moribund domestic tyre production. This is protectionism without the protection. Pure appeasement politics: calculated and cynical.

But labour will not be so easily appeased. The president may hope that the tyre decision affords him some political space to move forward on a positive trade agenda. He may find instead that he has bought himself more domestic difficulty by awakening the protectionist fantasies of a legion of other industries; and dashed hopes among the developing world that his administration is not simply a retread of other, politically myopic US administrations of years past.






So, basically, this was all fodder for the steel unions, but it really has no meat and potatoes, unless of course, "The Messiah" plans to rebuild our industrial infrastructure! Guess what? Ain't happening. He's a "free-trader" and a L I A R, completely moving in the opposite direction from what he said in his campaign. Now, what he's done has riled China up and the salvos will start flying. And, this POTUS has NO plan to help our plight - in fact, he's only making matters worse!
70. Thanks, Oss. That means a great deal after getting beat up today. I appreciate it.
Stiglitz Says Banking Problems Are Now Bigger Than Pre-Lehman

Sept. 13 (Bloomberg) -- Joseph Stiglitz, the Nobel Prize- winning economist, said the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers Holdings Inc.

“In the U.S. and many other countries, the too-big-to-fail banks have become even bigger,” Stiglitz said in an interview today in Paris. “The problems are worse than they were in 2007 before the crisis.”

Stiglitz’s views echo those of former Federal Reserve Chairman Paul Volcker, who has advised President Barack Obama’s administration to curtail the size of banks, and Bank of Israel Governor Stanley Fischer, who suggested last month that governments may want to discourage financial institutions from growing “excessively.”

A year after the demise of Lehman forced the Treasury Department to spend billions to shore up the financial system, Bank of America Corp.’s assets have grown and Citigroup Inc. remains intact. In the U.K., Lloyds Banking Group Plc, 43 percent owned by the government, has taken over the activities of HBOS Plc, and in France BNP Paribas SA now owns the Belgian and Luxembourg banking assets of insurer Fortis.

While Obama wants to name some banks as “systemically important” and subject them to stricter oversight, his plan wouldn’t force them to shrink or simplify their structure.

Stiglitz said the U.S. government is wary of challenging the financial industry because it is politically difficult, and that he hopes the Group of 20 leaders will cajole the U.S. into tougher action.





Three banks are now larger than they were before the financial crisis: Wells Fargo, Bank of America and Citigroup (at least I think that's the three).


Well, I became a Beyonce fan tonight! She re-defined class! WTG, Beyonce!
LOOK AT ME

"Looking for a quick and easy boost in the polls, President Obama has decided to go to the one place where merit bears no relationship to adulation: the United Nations. On September 24, the president will take the unprecedented step of presiding over a meeting of the U.N. Security Council," Anne Bayefsky writes at www.nationalreview.com.

"No American president has ever attempted to acquire the image of King of the Universe by officiating at a meeting of the U.N.s highest body. But Obama apparently believes that being flanked by council-member heads of state like Col. Moammar Gadhafi - who is expected to be seated five seats to Obamas right - will cast a sufficiently blinding spell on the American taxpayer that the perilous state of the nations economy, the health care fiasco, and a summer of 'post-racial' scapegoating will pale by comparison," said the writer, a senior fellow at the Hudson Institute and executive director of Human Rights Voices.

"After all, who among us is not for world peace?
Quoting latitude25:
".straight from Dr. Doom himself, Nouriel Roubini"

help

I can't open those things, and can't hear even if I did.

What'd he say? Cliff's version


Sorry, Lat, he basically said the banks' balance sheets are still out-of-whack and three banks are now larger (speaking of too big to fail) than they were before the financial meltdown.
It really amazes me that these lethargic liberals who want to hurl the race card and the kitchen sink can't come up with one solid solution to fund all these things for which they continuously whine.

This blog has repeatedly said we have got to take strong measures to regrow our own wealth. Without that, any pet program or essential program is going to be in danger. PERIOD. That's it. Even borrowing catches up with us - eventually it has to be repaid. I'm not sure which part of "repaying" borrowed money these folks don't understand! LOL. Maybe it's in their nature to expect something for nothing. It doesn't work that way, not even in the liberal fantasy world. And, we are borrowing so much, so fast that we are headed exponentially soon towards unsustainability. Now, that's not a hard word - it's in the dictionary. Look it up if you don't know it or understand it. That's where we're headed and dayumed near where we already are now! But, these folks want to tack on another $1,000,000,000,000 to the deficit for another government program that deserves no less scrutiny of the federal government's ability to run existing programs. These programs have cost more and more and have produced less and less! Pick anyone you like! Any one! Government, at best, is ineffective and inefficient!

Right now, China, is basically funding defense, social security, medicare and 100's of other programs - why? Because we can't pay for them ourselves, that's why! It shouldn't take a smart person to understand this.

So, what do we do about it?

Sure, it's not an easy thing. Barack and Bush were simply in over their heads, and they suffer, like all the Washington bureaucrats, from having to return favors to the lobbyists who helped get them elected. That prevents the very "will" to really do something productive, if there was ever any "real" will. Personally, I doubt it. We've seen too many career politicians get powerful and rich while the country goes down the tubes fiscally. So, you know if there were any real salts (from either party), things would be better than they are. Again, it shouldn't take brain surgeons to realize this.

Alright, so, we create jobs here by creating incentives (or even pass laws) that foster growth on our own soil. We've been offshoring and outsourcing our wealth and it is because of corporate greed and massive foreign lobby. We've been torpedoed and didn't know it. We've been on self-destruct and didn't even know it. It's like we just gave them a blank check and said "here, write it for whatever you like, we'll cash it!" Well, that's exactly what we've done! Only, except now, those checks we've been kiting are bouncing because we're B R O K E!

If we eliminate the corporate income tax and replace it with a 5% value added tax. A 3% VAT replaces the revenues from corporate tax, 1% more pays $1.3 trillion for health care, and 1% more brings in enough revenue to start paying down the debt.

This is not new, lethargics. It's been here before and it's in the header again now. And, you pundits will say, "oh, prices will go up" - they may; but, I can assure you they are eventually going to go up anyways in hyperinflation if we keep printing fony money, and not paying our bills. China is fast trying to unload all the profits they've made from manufacturing stuff for us and selling it back to us because they know our money is becoming worthless, just like our checks!

A VAT helps level the global-trading field. If there is going to be a global economy, and there is, then at some point the melting of labor and consumptions have to blend or otherwise, we get what we've got now - a huge, gargantuan trade imbalance. In other words, they make money and we lose money. It really is just that simple.

Think they are not taxing our exports? Think again! Think they are not manipulating their currency? Think again! Think they are not doing a better job of lobbying our own Congress than we are? Think again several times, until it finally sinks into your heads!

I've no problem whatsoever with a HCR bill passing. I don't like seeing people hurt, losing their hard-earned savings from illness - not at all. My problem is "how do we pay for it!" Think up any program you want - study the color of dust on Pluto, I don't care! We'll do it, if you can find a way to pay for it! Find a plan - one that really works! And, I'm not talking about a plan that includes borrowing money!

If I want or need something, I have to pay for it! No government program should be any different!

A 5 percent VAT will give you a HCR bill that is funded. Think the Chinese will get mad? Sure they will. Think they will want to stop selling us goods? No, they won't. They have mouths to feed; and, if we don't do something like this fairly soon we're going to be dependent on them feeding us as well - that is if they are not already "technically" doing that even now, too.
Nikkei 225 10,202.06 -242.27 -2.32%
Hang Seng 20,936.32 -225.10 -1.06%
Straits Times 2,643.78 -37.25 -1.39%


Asian stocks down as weak dollar weighs on Japan

Asian stock markets pull back as weak dollar weighs on Tokyo shares; oil falls near $68


HONG KONG - Most Asian stock markets retreated Monday, with Tokyo's benchmark sliding more than 2 percent as the dollar remained weak against the yen.

Japan's strengthening currency weighed on major exporters like Toyota Motor Corp. and Canon Inc. amid concerns it would erode the value of their overseas profits. Oil prices fell to near $68 a barrel, while U.S. stock futures pointed to a lower open on Wall Street.

Analysts said the markets seem to be in a short-term holding pattern as investors await more clues about the global economy. Among their chief concerns are Western consumers who've scaled back their spending in the face of growing unemployment, sinking home values and high personal debt.

"The markets are jittery today," said Francis Lun, general manager of Fulbright Securities Ltd. in Hong Kong. "There's still concern we're ahead of the fundamentals. The exports market hasn't completely recovered and the consumer is still not spending, so there's a lot of worry out there."

Japan's Nikkei 225 stock average took the day's biggest hit, falling 227.86 points, or 2.2 percent, to 10,216.47.

Hong Kong's Hang Seng was off 0.9 percent at 20,962.46 while Korea's Kospi shed 1 percent to 1,634.01.
Good Morning MLC! Hang in there!
Morning MLC (hey Bills too). I haven't been around for the past few days but very good blog.
mornin' MLC...
thanx for all you do here.
Good Morning CG...
MLC- Sorry I don't know how to do the link thing.

After Census Severs Ties, ACORN May Face Scrutiny of Housing Grants

http://www.foxnews.com/politics/2009/09/12/census-victory-conservatives-target-hud-funds-acorn/

MLC

BTW, you are far more tolerant than I.
I can't see many of the posts that you respond to unless they are quoted. Same with other blogs. My ignore list is begining to rival MSTL's, but for far, far different reasons.
Yes, one should "know thine enemy", but there comes a time when "natural selection" takes over.
I have a few Liberal blog buddies and they know who they are. They spread worldwide and all ages. What matters is that they speak with a single tongue.
Though unlike MSTL, I don't ignore those who quote those I have on ignore. It only serves to vindicate my decisions.
Again, thanx for all you do here.
Thanks for the link Bills. Acorn - what a joke.

Shep - MLC is definitely much, much more tolerant than I would be.
Quoting conchygirl:
Thanks for the link Bills. Acorn - what a joke.

Shep - MLC is definitely much, much more tolerant than I would be.
And good mornin' to you conchy my rose.
Yup...bless his heart, the boy done good.
;>)
Quoting billsfaninsofla:
Good Morning CG...
MLC- Sorry I don't know how to do the link thing.

After Census Severs Ties, ACORN May Face Scrutiny of Housing Grants

http://www.foxnews.com/politics/2009/09/12/census-victory-conservatives-target-hud-funds-acorn/




And they should be under scrutiny. LoL

ACORN Investigation Update: Issa Applauds Census Decision to Terminate Relationship with ACORN



Is ACORN Intentionally Structured As a
Criminal Enterprise?
Staff Report
U.S. House of Representatives
111th Congress
Committee on Oversight and Government Reform
July 23, 2009


Thanks Oss! Again, we all need to write to our Reps!

Ya know, where has respect gone? What Kanye West did to Taylor Swift at the VMA's was despicable. At least Beyonce seemingly has some class.
Quoting billsfaninsofla:
Ya know, where has respect gone? What Kanye West did to Taylor Swift at the VMA's was despicable. At least Beyonce seemingly has some class.
Beyonce has an abundance of class and style indeed.
Kayne West has a problem with alcohol and reading scoreboards. The vote is what it is.
Good morning! How's everyone doing today?

I was wondering what the numbers would turn out to be for the rally. I had heard everything from 30,000 (that's how many registered online) to 2 million (wildly inaccurate). From the photos taken during the rally portion, it doesn't look like more than 200,000-300,000. The video of the timelapse of the march looks impressive, with all the people collected on Pennsylvania Ave. I'm not sure how many, it's tough to tell, but reports of the people packed on the mall from the capitol bldg to the Wash. monument are not true. The "packed" people extended to 3rd St and no further, for the rally. There were clearly many more than expected, as the sound system didn't reach far enough to be heard by those in the back of the pack. The group left the mall/area surrounding the Capitol clean, and there were no incidents reported by Park police that I have found. :)

GO PATRIOTS!
This is a cell phone pic by Mary Katharine Ham, taken from the Newseum Balcony during the march.





I know you'll appreciate this one MLC! ;)
Good morning, all.

Thanks for the nice, supporting comments. I appreciate it.

I won't be spending any time anymore trying to be cordial to those that would serve to stir the pot and cause trouble. It is a waste of time. These people are basically good, decent people - they just have lost their way, and do not understand the serious plight we face as a nation. This isn't about all the stuff they whine about - this is about fiscal responsibility and our sovereignty. And, they just don't get it. They will eventually come to understand on their own. A light bulb will go off in their heads one day, and some will recall, that a few folks were talking about this some time back - and, they will realize that they should have been listening instead of ridiculing what they did not understand.

I've been very critical of both parties, Bush and Obama and either Congres in power. The sad and selfish nature in which our elected officials conduct business, ignore and discount the will and directives of the American people has been the resounding theme in this blog. More and more burden is being placed on fewer and fewer as we lose more and more jobs - folks that work hard and pay taxes and do all that they can to support local, state and federal governents. We're $12,000,000,000,000 in debt now and quickly adding exponentially more with expectations of over 20 trillion in a few short years. That is purely unsustainable. We will default, if we don't get this ship righted. And, even if we do keep the ship from listing so badly, we're loading gargantuan amounts of debt on our children. Today, a newborn owes more than $35,000 in taxes before the doctors slaps his/her butt! And, that's just for starters! Are we loving our children if we do this to them? Are we being responsible? I think not, and it's time we take this country back from the abysss it's been traveling.

So, you see where we are. We know what has to be done. Now, we just have to figure out a way to get it done! It's going to take hard work and determination. It's going to take sacrifice and extra hours put into our daily lives. It will require education (not the left behind kind) and it will require constantly pressuring our Congressmen and the president to mandate change. It will take volunteering, contributing and supporting new candidates that understand and will oblige their tenure to support our cause.

If we don't do it, it won't get done; and, there we will find ourselves, in the abyss, losing our soverignty, our freedom and if America loses it, it will perish from the surface of the earth. No other country has endured and suffered what we have won! None. And, we mustn't let it fall through our hands.

These are interesting, precarious and scary times. Stay informed, discern truth and reason for yourselves. Stay vigilant. Guard your heart. Guard your loved ones and your homes - things are likely to deteriorate before they get better. It'll be a long haul and hard work, but it must be done.

I'm in and out today. Again, thanks for the comments and I sincerely appreciate the shared information. There is plenty of news happening, news that we won't see in the MSM. Search for it - it's there. Post it for others to see and learn from it.

Thank you! Have a GR8 Monday and a good week! :)
China files WTO complaint on US tire tariffs

BEIJING (AP) -- Beijing filed a World Trade Organization complaint Monday over new U.S. tariffs on Chinese tires, stepping up pressure on Washington in the latest in a series of trade disputes.

The conflict is a potential irritant as Washington and Beijing prepare for a summit of the Group of 20 leading economies in Pittsburgh on Sept. 24-25 to discuss efforts to end the worst global downturn since the 1930s.

The Chinese complaint to the WTO in Geneva triggers a 60-day WTO process in which the two sides are to try to resolve the dispute through negotiations. If that fails, China can request a WTO panel to investigate and rule on the case.

"China believes that the above-mentioned measure by the U.S., which runs counter to relevant WTO rules, is a wrong practice abusing trade remedies," said a Chinese government statement quoted by the official Xinhua News Agency.

The WTO confirmed that China has filed a "request for consultations" on the issue.

Beijing's unusually prompt response to Friday's tariff decision shows the urgency China attaches to maintaining exports amid slumping global demand.





That didn't take long at all. And, just FYI, 9 out of 10 times the WTO rules AGAINST the US.
Imagine that, the Chinese filing a complaint against us! :)
MLC - ?
-----------------
It's a new school year, but an old fight is brewing in American classrooms. Teachers and administrators around the country are scratching their heads once again over the Pledge of Allegiance.

The courts have consistently ruled that students have the right not to recite the pledge in public schools. But now some First Amendment advocates are taking it one step further, arguing that the law compels educators to inform kids at the beginning of school that the decision is entirely up to them.

They're advocating a "Miranda warning" for the Pledge -- an administrative notice to students that they have the right to remain silent.

“The Pledge of Allegiance creates a constitutional problem. You have to tell students they can opt out,” the Rev. Barry Lynn, executive director of Americans United for Separation of Church and State
-----------

96. conchygirl 7:20 PM GMT on September 14, 2009
MLC - ?
-----------------
It's a new school year, but an old fight is brewing in American classrooms. Teachers and administrators around the country are scratching their heads once again over the Pledge of Allegiance.

The courts have consistently ruled that students have the right not to recite the pledge in public schools. But now some First Amendment advocates are taking it one step further, arguing that the law compels educators to inform kids at the beginning of school that the decision is entirely up to them.

They're advocating a "Miranda warning" for the Pledge -- an administrative notice to students that they have the right to remain silent.

“The Pledge of Allegiance creates a constitutional problem. You have to tell students they can opt out,” the Rev. Barry Lynn, executive director of Americans United for Separation of Church and State




i think its silly they say it or they dont whats the big deal
96, 97. I'm not particularly happy about that issue, but my response is that if parents want them to recite the pledge and the children want to recite it, then it should be allowed. As a parent, I encouraged it. My children wanted to say the pledge - they understood the love and committment to country. If parents instill that in their children, the issue becomes moot, because it will happen. Now, when they are denied that opportunity, it becomes a totally different matter.
as a child i wasnt given the option we said it every day

im glad i did
Quoting moonlightcowboy:
96, 97. I'm not particularly happy about that issue, but my response is that if parents want them to recite the pledge and the children want to recite it, then it should be allowed. As a parent, I encouraged it. My children wanted to say the pledge - they understood the love and committment to country. If parents instill that in their children, the issue becomes moot, because it will happen. Now, when they are denied that opportunity, it becomes a totally different matter.
The pledge means something very special to me and I have strong feelings about it but that is just me, I suppose. My daughter aways said it! At least they aren't taking the choice away!
Something interesting must have happened with this very recent item. Briefing congress this afternoon on the item? Hummmm


New York Residences Raided in Terrorism Probe

Law enforcement agents have raided residences in New York City as part of a terrorism investigation, and are preparing to brief Congress about the investigation.

New York Police Department spokesman Paul Browne confirms that searches were conducted in the borough of Queens on Monday by agents of a joint terrorism task force. He would not discuss the matter further.


Separately, federal authorities planned to brief senior lawmakers in Congress on the case later Monday.
101. It will be interesting to learn more about this occurence, Oss. Thanks.
I don't like the sound of it MLC. Considering the recent voice of Bin Laden, I bet there is a link here. Just coincidence?

Edit - Bin Laden's Strategy Shift


Better link
The area where the raids took place is very close to Kennedy Airport.
And right under one of the flight paths.
fwiw
The president was in NYC today. EEK!
bin ladin needs to be gone
he will always be a threat to the us as long as he is alive
I want to thank the informative, civil posts made in this blog today. I appreciate it.

Have a good Monday evening! :)
Points of view for you.

Yellen Says Fed Should Boost Jobs, Curb Disinflation (Update2)


Stiglitz Says Bank Problems Bigger Than Pre-Lehman (Update1)



More to this story for sure!

UPDATE 6-New York homes raided over suspected al Qaeda link


Hummm, congressmen quoting? That is a bit strange./

" No imminent danger, congressmen say "

"There was nothing imminent, and they are very good now at tracking potentially dangerous actions and this was preventive,"

What? Preventive? ...... of what?


Have a good one also MLC. L8R

Morning MLC and all: Realize your blog topic is not on racism but I found this dialogue interesting. This came from an individual on a 'blog' I belong to and was a response to an individual who is calling the tea-party movement all about racism. Frankly, I think those that call us racist are racist themselves.
---------------------------------
The protests are against the federal government - not just Obama.

Unmasking the Monster

I have heard the modern tea party movement mischaracterized and slandered over the past several months, and seen yellow journalism about vocal protestors disrupting town hall meetings hosted by politicians. These and other crocodile tears are shed by journalists, politicians and pundits who are either too stupid to understand, or are intentionally trying to villainize the new conservative activism.

Some of the knocks I hear against the tea party movement are that they are racist because they didn’t protest during the Bush years, but only now when there is a black president; shut up and pay your taxes; or cries of hypocrisy because tea party protestors love big government in the form of military spending, interstate highways, or the Veteran’s Administration and oppose programs that would help the poor and downtrodden - all hogwash.

Discontent among conservatives and libertarians has been festering for several decades since George H.W. Bush succeeded President Reagan and began to walk back conservative advances. Contrary to popular belief, that is the primary reason he was a one term president.

The discontent swelled with the advent of the Clinton Administration and his largest tax increase in the history of the free world, as well as Hillary’s attempted take over of our health care industry. The Republican Revolution led by Newt Gingrich, however, temporarily tamped down the discontent. Enter George W. Bush.

Conservatives and libertarians began to squirm in their seats with Bush’s unconstitutional federal intervention into our local schools with No Child Left Behind. The squirm turned into foot-tapping and nail biting with the Medicare prescription drug bill, and we stood and began shouting at our televisions with the expanded State Children’s Health Program and TARP – all unconstitutional expansions of federal tyranny over sovereign States and free enterprise. Enter President Obama.

President Obama has removed the mask from the monster once and for all and exposed the true Progressive agenda for America – a reshaped America based on a new foundation – his words, not mine, by taking over car companies, insurance and investment companies, Cap & Trade and a national health care plan. With his actions there can be no further debate concerning the direction Progressives in America, Democrats and Republicans, wish to take.

Why is there a modern tea party movement? Is it racist? There is a modern tea party movement because as Thomas Jefferson so eloquently wrote in the Declaration of Independence, “. . . all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable. . .”

It began before President Obama, but certainly with him and his programs, evil in the form of federal infringement upon our liberties, Progressive disrespect for our Constitution, American history, traditions and political philosophies, has become insufferable.

They may name their movement tea party to invoke and evoke our Founding Fathers, but the movement is much more profound than just taxes. The movement is about freedom and liberty. It is about legalizing and respecting our Constitution once again.
Hi MLC_
I don't think money is the cancer at all-

I think greed and the love of power is the cancer. Until that is dealt with through personal responsibility and accountability.
Nothing will get fixed.

Money is just green paper sitting around....
AMEN TO BOTH COMMENTS 109 and 110!! :)
Morning HG
I keep missing you. Work is getting in my way. LOL
Quoting Gatorxgrrrl:
Hi MLC_
I don't think money is the cancer at all-

I think greed and the love of power is the cancer. Until that is dealt with through personal responsibility and accountability.
Nothing will get fixed.

Money is just green paper sitting around....

I disagree. Money "is" the cancer and the fruits of the poisoned tree.
Follow the money.
A W E S O M E!

The Senate just voted overwhelmingly to cut-off funding to ACORN. 7 senators voted to continue funding.

"BRAVO," I say! We need more of this.

Also, I understand that Maryland is now going to start a criminal investigation of ACORN!

...am I dreaming? Please, someone pinch me! ;P


Oh, and good morning, all!
Howdy all,

114 that aint all that's happening.

Probe launched as Senate nixes funds

Have fun, off to logical security training for a few days, zzzzzzzzzz L8R
That is awesome MLC. About time.

Shep: Agree, agree about the green!
Morning folks! Been awhile since I've had time to post (still don't, really), but I couldn't resist this one...

Link

Federal Reserve Chairman Ben Bernanke said Tuesday that the worst recession since the 1930s is probably over.

Bernanke said the economy likely is growing now, but it won't be sufficient to prevent the unemployment rate, now at a 26-year high of 9.7 percent, from rising.

"The recession is very likely over at this point," Bernanke said in responding to questions at the Brookings Institution.


I think the man has lost his mind! I can't wait to hear "The Five" on this one!!!
Quoting Gatorxgrrrl:
Hi MLC_
I don't think money is the cancer at all-

I think greed and the love of power is the cancer. Until that is dealt with through personal responsibility and accountability.
Nothing will get fixed.

Money is just green paper sitting around....


GG, you're right; so, what we've got to do is cut the money flow to these clowns. And, we can do that, with a simple amendment. But, it's going to be difficult - that's like these fellas cutting their own "theiving" hand off. May never happen. It IS, though, what has to be done. The temptation and the unreal, overwhelming assault by lobby throwing money at these folks, makes it almost impossible to not play the game.

Money is the "enabler!"

These folks no longer represent the hard-working, taxpaying folks that fund our government. Without listening to these people, and they don't, helping the rest becomes moot. They only largely "listen" to the enablers - corporate and foreign lobby - the enablers with money.

I don't feel empathy for any of them any more. They've become career politicians on both sides of the aisle. They homestead in Washington and grow rich, while American living standards deteriorate.

And, Gretchen Wilson explained my feelings about them something like this:

Quoting ILwatcher:
Morning folks! Been awhile since I've had time to post (still don't, really), but I couldn't resist this one...

Link

Federal Reserve Chairman Ben Bernanke said Tuesday that the worst recession since the 1930s is probably over.

Bernanke said the economy likely is growing now, but it won't be sufficient to prevent the unemployment rate, now at a 26-year high of 9.7 percent, from rising.

"The recession is very likely over at this point," Bernanke said in responding to questions at the Brookings Institution.


I think the man has lost his mind! I can't wait to hear "The Five" on this one!!!


Hey, IL. Bernanke has become a legend in his own mind! Like a few other politicians we know - meanwhile, back at the ranch, things are steady going downhill.
120. moonlightcowboy
We are going steadily down - say it isn't so. :) Read the kumbaya blogs - the lovers of TM!
Quoting conchygirl:
120. moonlightcowboy
We are going steadily down - say it isn't so. :) Read the kumbaya blogs - the lovers of TM!


Oh, well, there is nothing, absolutely zero, any of the kumbaya'ers have to say that I am remotely interested in hearing or reading. They've been hoowinked by that which doesn't exist in Washington at all.

They refuse to present any solutions, but choose to landblast those that show disagreement with this congress and administration. How quickly they forget the vitriol they spewed during the Bush administration. But, now, they admonish those that did exactly what they did. Talk about "double-standards!" LMAO.

...simply clueless, is all I have to say!
I see the president is out campaigning, A G A I N! UGH! This pathological narcissist simply cannot get enough of himself. Hell, he's had more time on TV than Billy Mays did!
...oooops!

LIE #1 - the stimulus bill was without pork!

ROFLMAO!
Looks like Obama school speech about personal responsiblity did a lot of good.

WHITE STUDENT BEATEN ON SCHOOL BUS; CROWD CHEERS

Police said it all unfolded in a five-minute span.

The victim was trying to find a seat and was told by two students he could not sit next to them, police said.

As he walked to the seat, someone shouted, "Beat his ass."

When he did sit down, one teen tried to push him out of his seat then began grabbing the victim’s neck and punching him in the face.




Why isnt this a hate crime? Where is Al sharpton? This is exactly how the whole Jeena 6 thing started.

I understand that the victim is white, so in many liberal's eyes he is a racist.

But this boy was just trying to find a seat on a public bus to get to school.

Rosa Parks anyone?
LIE #2 - vast stimulus for infrastructure doing great! (not happening, except on small scales).
LIE #3 - incomes have gone up over $3,000.

LMAO!

Ain't happened. $13 a week? Maybe for the few that still have jobs. But, those, that have are enduring shorter pay-period checks, etc. So, this is all BS!
LIE #4 - ....bwaaahhhaaa, sorry, can't keep up with 'em anymore from bust-gut laughter!
125. ZM, the fracture has already occured in many ways. This is just one example. And, it's much larger than an isolated, child incident on a bus, and much larger than anything associated with racism.

I do totally agree this is a very unfortunate thing. I don't know the circumstances, but certainly, it requires investigation and some sort of consequences for either or both, and others, depending on the circumstances.
Oh, wow! E V E R Y T H I N G I am hearing this clown speak to HCR is precisely what I have suspected in Post #1 in this blog.

...typical! So very typical.
Instead of worrying so much about some that go broke with illness, he should be more concerned about "BROKE AMERICA!" Instead, he proposes to load us up some more!

Eliminating fraud, abuse! B W A A H A A H A A H!, OMG, I'm gonna pee on myself! Maybe he should surely start with ACORN, before he tackles the Medicare behemoth!
Lies, lies and more lies. Now they are slamming the guy who dared to say anything. Now agree he was out of line and he has apologized but not enough for some.
-------------------
Congressman Suggests People Will Don 'White Hoods' If Wilson Not Rebuked
In an obvious reference to the Ku Klux Klan, Rep. Hank Johnson, D-Ga., says that people will put on "white hoods and ride through the countryside" if emerging racist attitudes, which he says were subtly supported by Rep. Joe Wilson, are not rebuked. He said Wilson must be disciplined as an example.
of course he should be disciplined


he not only disrespected the prez he disrespected America
Quoting conchygirl:
Lies, lies and more lies. Now they are slamming the guy who dared to say anything. Now agree he was out of line and he has apologized but not enough for some.
-------------------
Congressman Suggests People Will Don 'White Hoods' If Wilson Not Rebuked
In an obvious reference to the Ku Klux Klan, Rep. Hank Johnson, D-Ga., says that people will put on "white hoods and ride through the countryside" if emerging racist attitudes, which he says were subtly supported by Rep. Joe Wilson, are not rebuked. He said Wilson must be disciplined as an example.


OMG! Next thing you know, someone will say, "oh, it looks like it might rain out today" and they'll be called a racist! LMAO! This a joke!

But hey, CG. Look at it this way. Though it's a poor Joe's expense, at least they are not currently inventing and spending new pathetic legislation - at least this is keeping them occupied from spending more money - let 'em stay busy with this! And, even if there was some racial overtone, (which there was NONE) they are only compounding the issue.

This has gotten wasy past ridiculous and is now grossly absurd.
ALL OBAMA, ALL THE TIME.

Link

Good thing football season has started!! :)
Quoting toddluck:
of course he should be disciplined


he not only disrespected the prez he disrespected America


Todd, and I disagree with that. The man apoligized for what was deemed disrespectful. That's enough. Let's don't beat a dead horse. Or should we tie him to the well of the house floor and break out the canes? LMAO.

Though Joe's outburst was possibly disrespectful, it was however the truth. Immediately following, the next day the Senate drafted specific "prohibitive" legislation in response to Joe's clarity on the subject, that had not previously been there.

Punishment for truth? I think not. But, it wouldn't be the first time the truth has been punished by evil men.

Had he shouted "FIRE" in the house that night - perhaps, punishment would be justified. But he didn't. He simply shouted the truth, in an unthreatening and unharmmful manner and in which would and should be protected by the 1st Amendment.

Or, I guess, like everything else, we can ignore the constitution and cane the man!

Joe Wilson is Under Attack- Stand with Joe Today

Today, I need your help more than ever before. I've been under attack by the liberals for months and they've done everything they can to quiet my very vocal opposition to more government interference in Americans' lives. Now, it's gotten even worse, but I will not stop fighting against their policies that will only lead to more government interference, more spending, and higher deficits.

I should not have disrespected the President during his speech. But I am not sorry for fighting back against the dangerous policies of liberal Democrats. I will not back down.


- Rep. Joe Wilson

Stand with Joe today and help fight back against liberal attacks by making a donation to his campaign. DONATE HERE.




It may have been the wrong place at the wrong time for some, but Joe Wilson spoke truth. Truth is truth, no matter where it is spoken! I've already made my contribution and I hope that you will help support his campaign.

"Truth" deserves to be re-elected!"

Thanks for the link MLC. I'll be supporting him!
Quoting conchygirl:
Thanks for the link MLC. I'll be supporting him!


You're welcome, CG, and thanks. It would be remiss not to support "truth!"
truth or not
it was disrespectful
dont care who the prez is
and (IMO) he only said sorry cause he knew he made a big mistake
and knew the backlash if he didnt do something

do i think its getting drawn out (yes)
do i think he needs punished (yes)

its just not acceptable and its only getting worse

the name calling the finger pointers

im not badgering anyone here i just think these kind of things are childish

i think Mr Wilson acted childish...but thats just my opinion

I see an excited utterance from Joe Wilson.
Obama has earned disrespect.
It is Obama and his past and current associates that "disrespect" America.
Quoting theshepherd:
I see an excited utterance from Joe Wilson.
Obama has earned disrespect.
It is Obama and his past and current associates that "disrespect" America.
Now that is an interesting perspective Shep and I tend to agree with you!
You do the math...


(anonymous)

.................AND TO GIVE YOU THE RESULTS
OF THE CASH FOR
CLUNKERS:

A vehicle at 15 mpg and 12,000 miles per year
uses 800 gallons a year of gasoline.

A vehicle at 25 mpg and 12,000 miles per year
uses 480 gallons a year.

So, the average clunker transaction will
reduce US gasoline consumption by 320 gallons per year.

They claim 700,000 vehicles were traded – so that's
224 million gallons / year.


That equates to a bit over 5 million barrels
of oil.

5 million barrels of oil is about ¼ of one
day's US consumption.

And, 5 million barrels of oil costs about
$350 million dollars at $70/bbl.

So, we all contributed to spending $3 billion
to save $350 million.

How good a deal was that???

They'll probably do a great job with
health care though!!
Todd, I am glad we can disagree civily on this issue, though I am not totally disagreeing with you. I do agree that we should move on - we've far greater things that need to be resolved than this issue - like the BANKRUPT NATION!
Quoting conchygirl:
Now that is an interesting perspective Shep and I tend to agree with you!
The utterance was no different than the Liberal boos that Bush used to suffer. However, I can prove that it was Congress and not Bush that created today's turmoil. Congress was actualy booing itself. Both sides are guilty.
Obama has earned his own boos and disrespect by his own words and associations.
Quoting theshepherd:
The utterance was no different than the Liberal boos that Bush used to suffer. However, I can prove that it was Congress and not Bush that created today's turmoil. Congress was actualy booing itself. Both sides are guilty.
Obama has earned his own boos and disrespect by his own words and associations.


Completely accurate. Thanks, shep!
Zoo, I appreciate your comments, but please review the blog rules in the bottom of the header. Thank you.
Quoting moonlightcowboy:
Zoo, I appreciate your comments, but please review the blog rules in the bottom of the headers. Thank you.


Yeah I know the rules.....but MLC you know what I said was was the truth.
Quoting Zoomaster:


Yeah I know the rules.....but MLC you know what I said was was the truth.


To be sure - this blog does not tolerate personal attacks on fellow bloggers. If your intent was to knowingly, intentionally violate the blog rules, please be served that this is a warning not to repeat the offense. It could result in a permanent ban. Thank you.

Politicians and political parties, however, are free game, except when it is continuously blaming one person or party. This blog prefers the "equal opportunity" spirited intent and demonstrates such.
It is time for Conservatives to unite. Be they Republican, Libertarian or Centralists Independents. In no way should we allow another Ross Perot fiasco that facillitated the election of Bill Clinton to happen again. Perot never had more than 12 or 15 percent of the vote and that was enough. I'll never forget him and Clinton holding hands on stage in joyfull ceremony singing "Crazy". Yeah, it was crazy. Crazy for enough unthinking voters not to see this "change" they voted for. They "raised the hood and fixed things" for sure.
There was no Perot this past election, but there was a consumate liar fascillitated by the Liberal Press and tons of ill-meaning monies that brain washed enough Americans to swallow his poisoned fruit.
If we do this again, then the most dangerous administration ever to occupy the White House and Congress will end forever the American dream.
Things will go dark, very dark...and I'm not talking about skin color. I'm talking dark.
But MLC is a fact a personal attack?

The socialist left has built a voter base off entitlments "something for nothing".

I have seen a huge shift in a few bloggers on this site when they thought they could get free health care.

Problem is for them is nothing is free.
not at all Zoo.....you just seem to like to follow me around and make snide remarks
You seem to think I voted for Obama...I DIDNT!!!!


Do i think health care should be AFFORDABLE....YES

do i think insurance companies should be held accountable?..YES

WHY?
Mt mother had "very good insurance"
until she got breast cancer

when it got to where there was really nothing more to do besides make her compfortable

the "good insurance company"...said they werent paying for anymore hospital time
so it was my family to have to pay for her last few days of compfort..(THANK GOD FOR HOSPICE)


my mother worked for life flight and emanual hospital....and they couldnt do anything after insurance said no more

a year later my sister was tboned by an ambulance she worked for the same company i do

after 3 months of now working (because of sever injuries) the insurance company dropped her
so what was here option?

welfare food stamps and public medical

ill stop there so when you say bandwagon and wanting something i havent worked for
you will undestand my getting angry

i work my azz off at home and at work

i refuse to pay the $$$$$$$ for insurance through work because i know what will happen when and if i get sick or injured

so yes im for reform
i never said one time what i support as far as the bill goes so for you to say i want something for free is rediculous

more than willing to pay when i know some laws are in place that arent going to let me get screwed

Quoting toddluck:
not at all Zoo.....you just seem to like to follow me around and make snide remarks
You seem to think I voted for Obama...I DIDNT!!!!


Do i think health care should be AFFORDABLE....YES

do i think insurance companies should be held accountable?..YES

WHY?
Mt mother had "very good insurance"
until she got breast cancer

when it got to where there was really nothing more to do besides make her compfortable

the "good insurance company"...said they werent paying for anymore hospital time
so it was my family to have to pay for her last few days of compfort..(THANK GOD FOR HOSPICE)


my mother worked for life flight and emanual hospital....and they couldnt do anything after insurance said no more

a year later my sister was tboned by an ambulance she worked for the same company i do

after 3 months of now working (because of sever injuries) the insurance company dropped her
so what was here option?

welfare food stamps and public medical

ill stop there so when you say bandwagon and wanting something i havent worked for
you will undestand my getting angry

i work my azz off at home and at work

i refuse to pay the $$$$$$$ for insurance through work because i know what will happen when and if i get sick or injured

so yes im for reform
i never said one time what i support as far as the bill goes so for you to say i want something for free is rediculous

more than willing to pay when i know some laws are in place that arent going to let me get screwed



look you may have a beef with insurance compaines......but dont make me pay for your beef by sacrificing what I have and like for your personal beef.

Beside there are many other ways to clear up your issues with health insurance, other than a government takeover of the entire industry.
Zoo, again, "read" the blog rules. "NO" personal attacks of any kind on fellow bloggers. This should be the last time you and I visit this issue. Thanks.
Quoting moonlightcowboy:
Zoo, again, "read" the blues rules. "NO" personal attacks of any kind on fellow bloggers. This should be the last time you and I visit this issue. Thanks.


No problem.
we have no power over the insurance companies thats a fact


i never said i wanted anyone to pay for anything

i hope you never get sick and have to deal some bs cause you "thought you werte covered"

i have a ??..for you ...how would you go about fighting the almighty insurance companies?
Quoting toddluck:
when it got to where there was really nothing more to do besides make her compfortable

the "good insurance company"...said they werent paying for anymore hospital time
so it was my family to have to pay for her last few days of compfort..(THANK GOD FOR HOSPICE)




Todd sorry about your Mom, but it sounds to me like her insurance company did everything they could for her till they could do no more.

It sounds like to me that she wasnt going to beat the cancer. Normally this is when people enter Hospice.

But from what you are saying the insurance company did everything till it was clear nothing else was going to help.

The government run plan would have done less for her I am sure.
154. Todd, sorry to hear of that news. I do agree we need reform, we need to fix many things. Of course, the usual problem is actually paying for these solutions. Right now, what the POTUS is proposing sounds good, but his discernment for paying for it is mostly smoke and mirrors.

But, there are things we cand do! I hope you read the copy in the blog header. We have many very serious, deep-troubling issues. HCR is just one of them.
Quoting toddluck:
we have no power over the insurance companies thats a fact


i never said i wanted anyone to pay for anything

i hope you never get sick and have to deal some bs cause you "thought you werte covered"

i have a ??..for you ...how would you go about fighting the almighty insurance companies?


Tood you also "less" power over the government....actually the only way to "fight" an insurance company is through the government aka the courts.

If you have government oversight of health care I am all for it......but government take over will just make the problems of "control and power" worse as there will be no one to regulate the government.
Quoting toddluck:
we have no power over the insurance companies thats a fact




True, and neither does the POTUS or Congress. The "real" truth is that it's just the opposite of that. Insurance will come out of this HCR bill smiling like the cat that got the cream - and, they will have, because they will "buy" exactly what they want from Congress! And, that IS TRUTH! Make no mistake!
less" power over the government
i agree 100%

your right there was nothing else they could do for my mother..except let her stay where she was .(the hospital told us she probably wouldnt survie the trip to hospice)
she did and lasted only 2 days b4 she passed

so why not let her stay puthow much really is a 2 day supply of morphine and a room?

i have never once said i know everything on all sides of the debate i never would

i just like what i see from the dems side
i have always considered myself republican
go figure
Can you sue the government if they screw up?
or deny service?
Government run heath care.

Easy first step, that requires no money, government involvement, or massive amounts of our money.

Instead of letting the insurance companies have a monopoly
in the states they carry.
Open it up.
Make them compete with each other, and be able to sell
insurance in any and all states.

First off, that will eliminate the difference in insurance costs in different states.
Make it easier and cheaper for insurance companies to write policies,
and not only do away with insurance costing different rates
in different states,
but also standardize medical costs.
Which will also make it cheaper for medical providers.
And bring the cost of medical down.

Actually, that is a Republican plan, you know that party
that has no plan.
The plan I like the best.
"i just like what i see from the dems side"

Well I don't at all.

The only plan I've seen from the democrats
is a government take over of our health insurance.

The rest of it is just fluff and lies.
They have no real plan to fix anything,
just take it over and run it.
We submitted the solution of a value added tax to the administration weeks ago, but Axelrod still has the president campaigning for the money. All we have to do is eliminate the corporate income tax and replace it with a 5% value added tax. A 3% VAT replaces the revenues from corporate tax, 1% more pays $1.3 trillion for health care, and 1% more brings in enough revenue to start paying down the debt.

...1% VAT pays for healthcare - even as the DEMS are advocating it. But, you're not hearing anything about this. Why? Because Obama is a LIAR, flat out LIAR. During his campaign he repeatedly said he would revolk or renegotiate our so-called "free trade" policies that have undermined this country. He's done just the opposite of that. He is a FREE-TRADER and has stacked his cabinet full of the same. So, you will not hear the POTUS or many from either party advocate a VAT, because they have all been, still are and will continue to be on the corporate and foreign lobby take!

And, I agree with LAT, I do not like the DEMS plan. Instead of propping up another poorly run bureaucratic government program, let's fix the ones we already have; and, include those that need help.
I can NOT believe that Nancy Pelosi is SERIOUSLY wasting tax dollars and time on the floor of the HOR to debate this NONSENSE!!

HE ALREADY APOLOGIZED. Honestly, this is political posturing that will backfire on the dems, IMO. Ridiculous.
Quoting toddluck:
your right there was nothing else they could do for my mother..except let her stay where she was .(the hospital told us she probably wouldnt survie the trip to hospice)
she did and lasted only 2 days b4 she passed

so why not let her stay puthow much really is a 2 day supply of morphine and a room?



Todd this is what Hospice does, it is a place for the termanilly ill. The hospital can only house people who have a shot at survival, after that it is hospice, as they need the bed for someone else.

this may not sound very nice but it is the facts of the hospital. Hospice I am sure gave your mother the same kind of medicine to keep her pain free as she would have recieved from the hospital.
Quoting homegirl:
I can NOT believe that Nancy Pelosi is SERIOUSLY wasting tax dollars and time on the floor of the HOR to debate this NONSENSE!!

HE ALREADY APOLOGIZED. Honestly, this is political posturing that will backfire on the dems, IMO. Ridiculous.


Didnt Pelosi accuse someone of lying???? CIA maybe? lol
Quoting Zoomaster:


Todd this is what Hospice does, it is a place for the termanilly ill. The hospital can only house people who have a shot at survival, after that it is hospice, as they need the bed for someone else.

this may not sound very nice but it is the facts of the hospital. Hospice I am sure gave your mother the same kind of medicine to keep her pain free as she would have recieved from the hospital.

Walk away...
Hospice was great

i can tell im getting on peoples nerves
so ill stop talking about it now
todd, you certainly aren't getting on my nerves speaking about a personal issue that is near to your heart. It's an insightful look at the hardships and reality that many hope to not have to face, but many of us will in one way or another some day. It's no wonder the issue of healthcare is so polarizing.

Quoting toddluck:
Hospice was great

i can tell im getting on peoples nerves
so ill stop talking about it now


Todd, you are VERY welcome here!
Quoting homegirl:
todd, you certainly aren't getting on my nerves speaking about a personal issue that is near to your heart. It's an insightful look at the hardships and reality that many hope to not have to face, but many of us will in one way or another some day. It's no wonder the issue of healthcare is so polarizing.



Ditto. And, AMEN!
Quoting homegirl:
I can NOT believe that Nancy Pelosi is SERIOUSLY wasting tax dollars and time on the floor of the HOR to debate this NONSENSE!!

HE ALREADY APOLOGIZED. Honestly, this is political posturing that will backfire on the dems, IMO. Ridiculous.


Joe is laughing all the way to the bank. He couldn't buy the kind of support he is getting from this if he tried!
No problem here Todd
I'm listening to the debate on CSPAN...the Dems are arguing a moot point, imo. The Republicans on the other hand are using this as an opportunity to give the DEMS a toungue lashing about the need to get back to the ISSUES of the day that are actually IMPORTANT in the scheme of things.
I'm outta here to finish up dinner! Have a good one gang. TTYS
its all good
i appriciate it
Catch you later, HG! Thanks.

And, I think this is a good time to say "thanks" to everyone for the civil discussion. These are sensitive issues, difficult issues - it takes clear minds and level-headed thinking to discern them and find resolve.

Thanks for the interesting and thought-provoking information. And, I want to especially thank Todd for sharing his very personal experience with this issue.
it takes clear minds and level-headed thinking to discern them and find resolve.



now if we can get the people in washington to do the same we might get somewhere
Rep. Joe Wilson's outburst last week is drawing new recriminations from his colleagues, with a member of the Congressional Black Caucus suggesting that a failure to rebuke the South Carolina Republican is tantamount to supporting the most blatant form of organized racism in American history.

In an obvious reference to the Ku Klux Klan, Rep. Hank Johnson, D-Ga., said Tuesday that people will be putting on "white hoods and white uniforms again and riding through the countryside" if emerging racist attitudes, which he says were subtly supported by Wilson, are not rebuked. He said Wilson must be disciplined as an example.



Henry C. Johnson Jr.
U.S. House of Representatives, representing Georgia's Fourth Congressional District

The charged comments come as the House is preparing to take further action against Wilson. House Democratic leaders decided to formally discipline him Tuesday afternoon for jeering President Obama during last week's joint session of Congress.

Wilson bellowed "You lie!" as Obama delivered his address.

[I]t is against House rules to call the president a "liar" or accuse him of "lying" when the House is in session, which is the basis for the punishment Tuesday.

The resolution is "privileged," meaning whenever it is introduced the measure goes to the front of the legislative line. It is unclear who will call up the measure.

A "resolution of disapproval" is not one of the four forms of discipline typically meted out in the House. The most commonly used means of punishment are expulsion, censure, reprimand or fine.

For instance, in 1997, former House Speaker Newt Gingrich was both reprimanded and fined for his book deal. Rep. Barney Frank, D-Mass., was reprimanded in 1990 for ethical breaches tied to a male prostitute. Republicans tried to censure Rep. Pete Stark, D-Calif., in 2007 for comments he made on the House floor about President Bush. But Democrats voted to set aside that effort.

A simple majority vote is needed to approve the resolution against Wilson.

Congressman Suggests People Will Don 'White Hoods' If Wilson Not Rebuked
Quoting toddluck:
now if we can get the people in washington to do the same we might get somewhere


Photobucket


Todd, until we change some "real" campaign finance reform and fully address and resolve the problems associated with corporate and foreign lobby, I'm afraid all that Congress is interested in is "passing the hat!"
i dont find the you lie comment racist

just uncalled for
Health care? Want to get something passed. Get rid of end of life couseling in the bill, place specific language prohibiting abortion, add tort reform, allow competition across state lines by insurers, fix the current existing entitlement programs (12 I think) that are broke and add the, net, 11 -15 million American people that want it and can't pay or can't qualify for it to join the existing government run program. It is really simple, but political.

Did you know there are up to 15 million aliens, 10 million who don't want it and would rather make a car payment, 11 million who already qualify for gov insurance assistance and have not signed up for it and of course the roughly 11 million who are the target for the program involved. The target constitutes less than 4% of the population and will impact 100% of us. BTW, if we give HC freely to anyone, we will have to cover the aliens by virtue of the constitution. No time to provide all the applicable links that have been posted prior. End of transmission :)

Have a good night all. On to see some sights in Orlando, L8R
Quoting Ossqss:
Health care? Want to get something passed. Get rid of end of life couseling in the bill, place specific language prohibiting abortion, add tort reform, allow competition across state lines by insurers, fix the current existing entitlement programs (12 I think) that are broke and add the, net, 11 -15 million American people that want it and can't pay or can't qualify for it to join the existing government run program. It is really simple, but political.

Did you know there are up to 15 million aliens, 10 million who don't want it and would rather make a car payment, 11 million who already qualify for gov insurance assistance and have not signed up for it and of course the roughly 11 million who are the target for the program involved. The target constitutes less than 4% of the population and will impact 100% of us. BTW, if we give HC freely to anyone, we will have to cover the aliens by virtue of the constitution. No time to provide all the applicable links that have been posted prior. End of transmission :)

Have a good night all. On to see some sights in Orlando, L8R


Thanks, Oss. Enjoy Orlando. There's a restaurant there called "Chatham's" - awesome. I haven't been there in years, but it was a local favorite, locally-owned I believe, a bit upscale - but very good! Oh, and if you miss "Goofy", well, I think he's been spotted lately in Washington! ;P
Urgency for new rules for finance is slipping away- AP

The rule book for Wall Street may not change that much after all. Tougher financial rules that seemed inevitable after last year's crisis have been stymied by industry lobbying, government turf battles and a stabilizing banking system.
Treasury lending report sees another decline

Treasury says loans held by the largest banks getting bailout support decline again in July

WASHINGTON (AP) -- Lending by the largest banks that received government bailout support declined for the sixth consecutive month in July, the government said Tuesday.

The Treasury Department said in its monthly report that average loan balances at the top 22 recipients of government bailout support dropped by 1 percent in July. The average loan balances had also fallen by 1 percent in June.

The survey monitors the impact the bailout program is having toward boosting lending to consumers and businesses.

Critics have charged that the bailout program has failed at its major goal. The Obama administration argues that lending would have dropped off even further during the recession if it had not been for the government's rescue efforts.
Lehman: Barclays took $8.2B more than allowed

Lehman says Barclays took $8.2B more than it should have in rushed sale of US banking unit

SAN FRANCISCO (AP) -- Lehman Brothers has accused Barclays Capital of taking $8.2 billion more than it should have when it bought key assets of the failed investment bank a year ago.

Lehman made its claim in a court filing Tuesday, the one-year anniversary of its chaotic bankruptcy filing. The court approved the sale of its U.S. banking business to Barclays less than a week after it filed.

Now Lehman wants a judge to force Barclays to give back some of the money it took as part of the deal, including $5 billion it said was given as extra collateral. Lehman said the extra value was not disclosed to the court.

"Because of these undisclosed and unauthorized features of the deal, Barclays received billions more than the value it paid," Lehman lawyers wrote in an argument to the court.




...and, this couldn't have been properly vetted without the rush to pass massive legislation and assume federal control of the major banks? BS!!!! This was a power play, pure and simple! And, the American public was the scapegoat!
186, we hit FishBones in Lake Mary as a group and it was indeed a great meal. Expensive, but very good. I can hardly move from the over eat. Probably placed 10 lbs on top of my 195. Be well. L8R, back to school in the early AM :(
Good morning, all.

Foreign demand for long-term US securities falls

WASHINGTON (AP) -- Foreign demand for long-term U.S. financial assets fell in July, but China boosted its holdings, the Treasury Department said Wednesday.

Foreigners purchased $15.3 billion more assets than they sold in July. Still, that's a steep decline from June, when they purchased $90.7 billion more than they sold.

The Treasury is auctioning record amounts of debt to cover a budget deficit it estimates will hit $1.58 trillion this year. Some economists worry that if overseas buyers don't keep buying U.S. debt, interest rates could rise.

China, the largest foreign holder of U.S. Treasury securities, boosted its holdings to $800.5 billion, from $776.4 billion in June.

China's holdings are a direct result of the huge trade deficits the U.S. runs with the emerging Asian power. The Chinese take the dollars Americans pay for Chinese products and invest them in Treasury securities. American manufacturers argue that gives China unfair trade advantages by keeping the dollar overvalued against the Chinese currency, which makes U.S. goods more expensive for Chinese consumers and Chinese products cheaper here.


Next Leg Down Will Be "More Painful Than The Last," Pento Says

Puzzled by the strength and duration of the stock market rally? Michael Pento, chief economist at Delta Global Advisors, says it all makes perfect sense. "If the Federal Reserve is going to pay you less than 1% to deposit your savings... what are you going to do with that money?" Hence, the rally off the March lows.

Unfortunately for investors, Pento argues the rally is meaningless because our "purchasing power… is eroding everyday" as the U.S. dollar continues to lose value. "You can't sit back and say since the S&P (500) is up over 50% that happy days are here again," he protests. "You have to look at it in real terms."

To put it in perspective: Pento claims, "if you bought the S&P 500 on December 31, 1999 you're down 50%, in terms of U.S. dollars." And next to gold, the comparison is even worse, "you're down 79% in the last 10 years. It's no wonder why investor feel they're under the weather," he says.

So what's an investor to do?

He recommends buying hard assets like gold as a hedge on inflation. (A topic we discuss in detail in a forthcoming segment.)

And, if you own stocks, stay long, until the Federal Reserve starts raising rates "aggressively," Pento suggests. "When they do raise interest rates, since the debt of the nation is growing at a 4.1% annual rate, the next time down is going to be much more painful than the last."
Morning Moonlight: Another day of positive news I see. :)
(Current spot gold price - $1016.43)





Go for Gold: Inflation Is Here and Going to Get "Much, Much Worse," Pento Says

As is so often the case, Tuesday afternoon's headlines missed the nuance of the story. Ben Bernanke's full statement told a much less ebullient tale: "From a technical perspective, the recession is very likely over at this point," he said. "It's still going to feel like a very weak economy for some time because many people will still find that their job security and their employment status is not what they wish it was."

Michael Pento, chief economist at Delta Global Advisors, has a more fundamental critique of the coverage: "Why would anybody listen to this guy in the first place?," Pento wonders. "[Bernanke] told us the recession wasn't even going to occur. He was very slow to reduce interest rates and now very very slow to raise them. So I wouldn't put any credence in anything he does, at all."

Pento's primary concern is that the Fed's easy money policies are going to lead to further weakness in the dollar, which is down 14% since March vs. a basket of other currencies. Pento believes we're facing a major inflation threat - and much sooner than most people expect.

On Tuesday, the government said PPI rose a much stronger-than-expected 1.7% in August. Come December, the price of oil will be up 100% from a year ago, Pento notes; given energy's major weighting, that will have huge ramifications for PPI and CPI data going forward. (Wednesday morning brought a higher-than-expected report on CPI. Both CPI and PPI remain negative on a year-over-year basis but the declines are narrowing and both are trending higher: for example, CPI is up 4.9% on a 3-month annualized basis, according to Miller Tabak.)

"Everybody knows inflation is here and is going to grow much, much worse," Pento says.

Quoting conchygirl:
Morning Moonlight: Another day of positive news I see. :)


There are a few glimmers, if they are not truly manipulated, but that's all it is - glimmers; and, they are not nearly enough to offset the inevitability of the far more serious issues confronting us down the road.

And, our geniuses in DC want to talk about censure and a health care plan we can't afford if it were to cost $1.00. Seems the POTUS and Congress are totally ignoring the real issues.
Crude Oil
$71.28
▲0.35 0.49%
"New Rules" Hope to Stave Off Commercial Real Estate Defaults

Mortgage services face a potential minefield of problems as New Rules Ease the Restructuring of CMBS Loans.


The Treasury, responding to the growing pain in the commercial real-estate industry, released new tax rules that make it easier for distressed property owners to restructure loans that were packaged by Wall Street firms and sold as securities.

Most in the real-estate industry, which lobbied intensely for the move, applauded the action. But some warned it has opened a Pandora's box, especially for servicers of the securities who will likely come under new pressure from borrowers and competing classes of investors.

The move is the first round of "additional guidance" the Treasury is weighing to stave off what many fear will be a commercial real-estate crisis, according to people familiar with the matter.

But some investors holding CMBS bonds are watching nervously because loan modifications, known as "mods," mightn't always be in their best interest. CMBS have junior and senior pieces, and the senior holders may be in a better position, when a borrower defaults, to foreclose and liquidate the property rather than modify the loan. Junior holders, on the other hand, might benefit from a mod because they mightn't get their money back in a forced sale.

"The biggest concern is that the guidance could open the floodgate for everyone to try to get some sort of loan modifications," said Aaron Bryson, a CMBS analyst at Barclays Capital. "There is a tremendous burden on the servicers to uphold their end of the bargain."

The move by the Treasury reflects the deep concern in government and industry circles over the problems looming in the $6.5 trillion market for commercial real estate. Just as the U.S. economy is struggling to regain its footing, defaults are mounting because of credit-market turmoil, along with declining property cash flows and plunging property values.
Previously, because of tax laws, servicers would not modify terms unless someone fell behind on payments. Now, many who can afford to pay will seek relief. As a result, servicers will have a more difficult time of deciding who is solvent and who is not, and what the right thing to do in picking winners and losers between junior and senior holders.

That the Treasury has to change such rules on the fly shows their concern over just how fragile this "recovery" is.
U.S. credit card defaults up, signal consumer stress

NEW YORK (Reuters) - Bank of America Corp and Citigroup Inc customers defaulted on their credit card debts in August at the highest rates since the onset of the recession, a sign that the banks' consumer lending woes are far from over.

The trend was echoed among most other major credit card issuers, dashing optimism sparked when many banks and specialty finance companies reported lower default rates for July.

"People have gotten very bullish with the July data, and (the August data) raises the question about how fast the consumer will get better," said Scott Valentin, an analyst at FBR Capital Markets. "People were assuming the pace would be pretty rapid, and this maybe slows the pace down."

The worse-than-expected August numbers bolstered the contention of some analysts that the July decline in defaults was due more to seasonal effects, like tax refunds, then an improvement in consumers' financial health.

Many analysts expect bad-loan levels will keep rising until later this year or early 2010.

"The defaults are a wake-up call for those expecting a V-shaped recovery," said Elliot Spar, options market strategist at Stifel Nicolaus & Co.
Morning MLC
Do you think it will be too late when some sanity returns to Washington Jan 2011?
Do you think it possible to reverse spending fast enough?
Quoting spathy:
Morning MLC
Do you think it will be too late when some sanity returns to Washington Jan 2011?
Do you think it possible to reverse spending fast enough?


Hey, spathy!

1. "Sanity" and "Washington" cannot technically be used in the same sentence together.

2. NO. When, this mess hit back in September last year, one of the things GR said and with which I totally agree with is to "freeze" government spending above previous levels. Consider the revenue shortfalls that were bound to and did happen (still happening); yet, spending is largely still the protocol. All of that filters down to local gov'ts as well. The other night, you mentioned water rates - expect them to take dramatic increases, as well as other services, etc.

Government simply doesn't know how to stop spending - it is not in their realm of concept!
"NEW YORK (Reuters) - Bank of America Corp and Citigroup Inc customers defaulted on their credit card debts in August at the highest rates since the onset of the recession, a sign that the banks' consumer lending woes are far from over."

And what did they expect when they raise the cardholders rates to 27%.

I think that the higher default rate was exactly what they wanted to offload any weak loans.
In other words if you can survive those confiscatory rates you are a secure loan.
201. Now, take that same thought and apply it globally. Higher rates and inflation are inevitable.
"expect them to take dramatic increases, as well as other services, etc."

They already have here.
And are talking another round of increases.
Along with rising millage rates!
Quoting spathy:
"expect them to take dramatic increases, as well as other services, etc."

They already have here.
And are talking another round of increases.
Along with rising millage rates!



EXACTLY! All of this filters down eventually to property owners and consumers. They are hidden taxes. Don't let the Washington fool you, they are raising your taxes and other costs, albeit clandestinely. But, that too, will not be enough - taxes will be going up across the entire spectrum.
They can't have it both ways.

If they spend, taxes have to be raised.
There is just no way taxes can't go up....someone has to pay for all this spending. Common sense 'should' prevail.
I dont like this form of Gov.
But just this one time I would like a Federal referendum to stop spending!
Quoting spathy:
I dont like this form of Gov.
But just this one time I would like a Federal referendum to stop spending!


Initiative and Referendum is very, very difficult.
I understand it would be difficult. But what is coming our way will be even more difficult.
Quoting spathy:
I understand it would be difficult. But what is coming our way will be even more difficult.


Spathy, I've about come to the conclusion, that we, like an addict often does, must hit rock bottom before we can truly begin again.
Quoting moonlightcowboy:


Spathy, I've about come to the conclusion, that we, like an addict often does, must hit rock bottom before we can truly begin again.


That thought too often enters my mind as well.
I just wish I was in a better financial situation to survive it.
Quoting spathy:


That thought too often enters my mind as well.
I just wish I was in a better financial situation to survive it.


One very positive thing, you do know how to grow things! That talent will be invaluable.
Thats true!
Now all I need is a gun and a gator hunting license!
I am not a fan of soy protein.
I wonder if Manatee jerky is good?
Quoting spathy:
Thats true!
Now all I need is a gun and a gator hunting license!


Yup, we're gonna need shoes.
Quoting spathy:
I am not a fan of soy protein.
I wonder if Manatee jerky is good?


:(
Sorry MLC I need big slow targets.
I just popped back in and LMAO at you two. gators/guns/targets. Too funny!
Well, a good start to righting the ship would be to overturn Dem power in next year's mid-term congressional elections.

Upseating the Princess from her throne would be a fine start!
Conchy
Back to serious stuff.
I want to increase the unemployment #s !!!!

Lets add Acorn employees to those unemployment figures :)
Quoting spathy:
Conchy
Back to serious stuff.
I want to increase the unemployment #s !!!!

Lets add Acorn employees to those unemployment figures :)


I'd rather add more burden to the over-crowded prisons.
There ya go one more unemployed.

NANCY !
Quoting spathy:
Conchy
Back to serious stuff.
I want to increase the unemployment #s !!!!

Lets add Acorn employees to those unemployment figures :)
Think it will happen? Probably not going to happen.
221.
I think we can do both. Yes we can ! Yes we can ! Yes we can !
Did you hear Sen Nelson Fl. Wants to stop cuts to Medicare. Well so much for paying for HCR. Or getting rid of Medi-waste.
Outsourcing Unemployment To China

As goes the US consumer so goes Chinese manufacturing. Here is a long but educational video produced by Vanguard on several Chinese manufacturing cities and what the economic downturn has meant for them. It's well worth a play.



That video is more confirmation of the Chinese manufacturing and unemployment woes outlined in How Will China Handle The Yuan? and over a year ago in Is China's Growth Story Coming Unglued?

Yet the myth of Chinese decoupling still persists.

Some day China will be far less dependent on the US but that day is not in the immediate foreseeable future. The videos are proof enough. Moreover, a strong case can be made that Obama Risks Global Trade War With Misguided Tariffs.

For now, stock are rising along with the biggest global reflation in the history of the world, by central bankers in nearly every country in the world, including China.

However, such stimulus is not infinite and is not without cost. Nor can temporary increases in demand caused by massive give-away programs be cause for permanent celebration. At best, stimulus programs shift demand forward stretching out the recovery period.

At worst, such programs add to malinvestments in housing, commercial real estate, and other areas. Government programs seldom, if ever, allocate resources effectively. The wildly popular cash-for-clunkers program actually destroyed productive assets, a repeat on a small scale of misguided efforts by FDR in the great depression to drive up prices of goods.

Yet for all these efforts unemployment is still rising, and even Fed officials admit the outlook for employment and consumer spending is far from rosy. Please see The Problem with Janet Yellen's Recovery Outlook for details.
Awesome! It will take "some punch" to knock the Dodd Clown out, but she seems to up for it! I think this is GR8!



WWE CEO Linda McMahon wades into Conn. Senate race

WASHINGTON - Pro wrestling executive Linda McMahon has never been shy about wading into the ring - and now she's plotting a smackdown of Connecticut Sen. Christopher Dodd.

World Wrestling Entertainment Inc. said Wednesday McMahon has resigned as the company's chief executive to seek the Republican nomination for Dodd's Connecticut seat, providing a show-business twist to one of the nation's marquee Senate races.

McMahon, 60, launched her candidacy saying the five-term incumbent Dodd has "lost his way and our trust." Dodd plans to run for a sixth term next year and is seen as one of the most vulnerable Senate Democrats.


Absurd left wing hate mongers drumming up a race war.....please tell me who are the real racists in the USA?
228. Losers will grasp at anything to hold on to power! It's a pathetic shame.

After 2010 and 2012 it may be decades, 50 years or better, before the Democratic party arises to win, if ever again.
MLC Interesting video. I found especially interesting the Chinese agrarian communities were sending the youth to the city. They were hoping that the youth would send back to the family a portion of the money they earned. It reminds me of Mexicans coming here to do the same.
And then there was the last question stated at the end of vid. If China can produce its own goods to sell to its own people to sustain their economy. Then what will America do!
Good thing we are a ahmmm wealthy country.

WASHINGTON -- Sen. Max Baucus on Wednesday brought out the much-awaited Finance Committee version of an American health-system remake -- a landmark $856 billion, 10-year measure that starts a rough ride through Congress without visible Republican backing.

Then what will America do!

If we can survive this, we will have to reinvent ourselves as the nation we once were - WE CAN AND WILL DO IT! But, there is heartache to endure before that can happen, I'm fairly certain.
Newsweak. Purposeful spelling.
Another attempt to maintain the divide. Keep us arguing amongst ourselves while our country is run into the ground. That is not news! Its disgusting!
Quoting moonlightcowboy:
228. Losers will grasp at anything to hold on to power! It's a pathetic shame.


Worst part about it is they are claiming that people who dont follow Obama off the cliff of bankruptcy are the racists.

I mean what is next? I go into a car dealership, test drive a car decide I dont like it or it costs too much and I am a racist cause the salesperson was black????

This isnt Chicago here 75% of a district is black, where one opponent can be discredited by simply being called a racist to drum up the support of the constituents. This is the entire country they are trying to label "racists".

People are offended and insulted and I think it is time Obama step in and explain that calling someone a racist is not a valid point to win a political debate.

If Obama come forward and acts like the post racial unifier he claimed to be during the campaign he will earn some respect from me.

However the longer he lets his own party continue this besmirchment of the American public, the more people will continue to turn against him.

This is disgusting.
Quoting conchygirl:
Good thing we are a ahmmm wealthy country.

WASHINGTON -- Sen. Max Baucus on Wednesday brought out the much-awaited Finance Committee version of an American health-system remake -- a landmark $856 billion, 10-year measure that starts a rough ride through Congress without visible Republican backing.





I eagerly await GR's interpretation as he vetted the House version very effectively!
Quoting moonlightcowboy:
Awesome! It will take "some punch" to knock the Dodd Clown out, but she seems to up for it! I think this is GR8!

WWE CEO Linda McMahon wades into Conn. Senate race

WASHINGTON – Pro wrestling executive Linda McMahon has never been shy about wading into the ring — and now she's plotting a smackdown of Connecticut Sen. Christopher Dodd.

World Wrestling Entertainment Inc. said Wednesday McMahon has resigned as the company's chief executive to seek the Republican nomination for Dodd's Connecticut seat, providing a show-business twist to one of the nation's marquee Senate races.

McMahon, 60, launched her candidacy saying the five-term incumbent Dodd has "lost his way and our trust." Dodd plans to run for a sixth term next year and is seen as one of the most vulnerable Senate Democrats.


That makes she and Peter Schiff (possibly) as two people trying to oust Dodd!! I don't know if Peter Schiff is running for sure, or not?
234. General, yes, it is truly disgusting. All of this is likely fodder to help soften the road to amnesty with illegal immigrants.
I don't know if Peter Schiff is running for sure, or not?

...for the Presidency? ;)
Dem Senator Warns of 'Big, Big Tax' on Middle Class in Baucus Bill

It's not every day that you hear a Democratic senator charge that a fellow Democrat is proposing to raise taxes on the middle class, but that is what happened on Tuesday when Sen. Jay Rockefeller, D-W.Va., ripped into the health-care bill developed by Sen. Max Baucus



Obama Admin: Cap And Trade Could Cost Families $1,761 A Year

The Obama administration has privately concluded that a cap and trade law would cost American taxpayers up to $200 billion a year, the equivalent of hiking personal income taxes by about 15 percent.



So much for that 95% of Americans will be getting a tax cut campiagn BS.

Can we all agree Obama is a lair.....ooops can I even still say that or will I be thrown in jail by the House of representives?
Quoting moonlightcowboy:
234. General, yes, it is truly disgusting. All of this is likely fodder to help soften the road to amnesty with illegal immigrants.
OMG, I must stay away from that topic -- one of my hot buttons.
Sarkozy: Iran working on nukes today

After Paris warned that new sanctions against Teheran remained an option despite the likelihood of negotiations with Iran, French President Nicolas Sarkozy maintained that the Islamic republic was still working on a nuclear weapons program.

"It is a certainty to all of our secret services. Iran is working today on a nuclear [weapons] program," Sarkozy told lawmakers from his UMP party on Tuesday, according to Press TV.

"We cannot let Iran acquire nuclear" weapons because it would also be a threat to Israel, he added.

French Foreign Ministry spokesman Bernard Valero had warned that Iran must make "concrete gestures" at the long-awaited discussions. He said the sanctions option remained on the table in case Teheran makes "an error of choice."
You go boy.
President Nicolas Sarkozy.
Someone has to.
Oh sorry the term boy here is a good thing :)
And thank God someone is picking up the Iranian Nuclear ball.
Time is running out.
Wait a minute...the world truly is upside down when the FRENCH PRESIDENT is willing to say something like that, and the US President isn't. What world are we living in?????
I knew agora's 5 minutes would have a little more to say about Bernanke's "techically" the recession is over.



Here%u2019s another serious indicator that the powers that be will soon be declaring an end to this recession: Capacity utilization inched up for the second month in a row in August. In data announced by the Fed today (now way Mr. Bernanke got a peak at this beforehand), the U.S. manufacturing sector utilized 69.6% of total capacity during August, its highest level since February.

We%u2019ve noted this several times before, but it bears repeating. In postwar history, when capacity utilization rebounds, the technical conclusion of the recession has already occurred%u2026 just a matter of time before the NBER calls it:

So we wonder... how long until the next one technically begins?
Quoting homegirl:
Wait a minute...the world truly is upside down when the FRENCH PRESIDENT is willing to say something like that, and the US President isn't. What world are we living in?????
Vive la France. :)
Quoting homegirl:
What world are we living in?????



Likely the kind where we may see the eastern sky split and hear an unfamiliar horn.

http://www.ibdeditorials.com/IBDArticles.aspx?id=337386320532288

Land Of The Fee

By INVESTOR'S BUSINESS DAILY | Posted Wednesday, September 09, 2009 4:20 PM PT

Reform: The chairman of the Senate Finance Committee wants levies on insurers to pay for ObamaCare and fines for families who don't sign up. We can cut costs and expand coverage without sacrificing freedom.

IBD Exclusive Series: Government-Run Healthcare: A Prescription For Failure


To keep ObamaCare alive, Montana Democrat Max Baucus has proposed a Rube Goldberg scheme of fees and fines on insurers and the uninsured designed to forcibly bring everyone into the loving and protective arms of the nanny state.

To help finance his Plan B, Baucus would impose annual fees of $6 billion on health insurers, $4 billion on medical-device makers, $2.3 billion on drug manufacturers and $750 million on clinical laboratories, among other taxes.

How this will cut health care costs we're not sure. These fees and taxes punish medical innovation and those who bring us lifesaving medicines that reduce hospital stays, obviate surgeries and extend lives. And these costs will inevitably be passed on to consumers.

Like any business, and unlike the government, insurers must make a profit to stay alive and weather lean times. And they're not immune to troubled times, having cut 6,200 jobs in February.

Stating the obvious, industry spokesman Robert Zirkelbach of America's Health Insurance Plans (AHIP) says, "New taxes on health insurance coverage is only going to make coverage less affordable for individuals, families and small businesses."

President Obama has said that if you're happy with your health insurance, you can keep it. So why would he want to impose punitive taxes on insurers? Is it part of a plan to put private insurers out of business to clear the field for a government-run public option?

The $6 billion fee on health insurers equals 25% of the industry's pretax profit and 60% of after-tax earnings. This is not taxation; it's confiscation. The power to tax is indeed the power to destroy.

Under Baucus' plan, companies with more than 50 employees that don't offer insurance would pay a fee of up to $400 per worker, who would qualify for a new tax credit under the plan. Never mind that this might result in fewer workers and higher costs of doing business for small businesses.

Then there's our favorite. As we have pointed out, many of the uninsured are uninsured by choice. Many have insurance opportunities at work or elsewhere but just don't sign up. Many feel they are young and healthy and have other things to do with their money. These people must be punished.

Baucus would require that under ObamaCare all Americans get health insurance. Penalties for not doing so would start at $750 a year for individuals and $1,500 for families. Households making more than three times the poverty level would face the maximum fines: $3,800 for families and $950 for individuals. The nanny state has ways to make you comply.

Fact is, most Americans like their health care. There are ways to provide expanded coverage at lower cost, such as health savings accounts, medical malpractice reform and allowing insurance to be bought across state lines. Baucus mentions none of this.

It's hard to see how Baucus' plan, like its ObamaCare twin, will make us any healthier or health care any cheaper. Like Obama's example of service, the post office, we'll get less service at higher cost while waiting in a line that gets longer.
MLC
Ouch. George Norry is seeming less crazy.
And I wonder too if the time is near.


"Likely the kind where we may see the eastern sky split and hear an unfamiliar horn."

I will continue to believe that Dec. 2012 is a new beginning when liberalism is dead.

Spathy repeating to self.
There's no place like home.There's no place like home.
MissN

In a nutshell!

"President Obama has said that if you're happy with your health insurance, you can keep it. So why would he want to impose punitive taxes on insurers? Is it part of a plan to put private insurers out of business to clear the field for a government-run public option?"
Quoting conchygirl:
There is just no way taxes can't go up....someone has to pay for all this spending. Common sense 'should' prevail.
They'll figure out a way to back-door it by placing the burden on the State and local gov't. That's what's on the horizon for broadening State Medicaid and other local County plans.
I've said it once and I'll say it again. If your living in poverty or unemployed go to your local County Finacial Aid Office and you will receive free heatlhcare. If you're working, go buy your own insurance. Drive a cheaper car, move into a cheaper house and adopt a lifestyle that allows you to be financialy responsible. That's what financialy responsible people do.
#252 dont forget to get rid of satellite dish and the wii.
If the rest of the world could only be as poor as us Americans.
The truly poor could use a hand up. The spoiled poor do not.
BTW I consider myself as one of the spoiled poor.
Quoting theshepherd:
They'll figure out a way to back-door it by placing the burden on the State and local gov't. That's what's on the horizon for broadening State Medicaid and other local County plans.
I know you are correct on this Shep but those local govt changes will impact us.

Noticed your comment on Krauthammer and Williams. When I first started watching Juan, he seemed MUCH more liberal than he is of late -as MLC would say, he is starting to GET it!
I know you are correct on this Shep but those local govt changes will impact us.


That's their plan. They'll be able to say "We didn't raise your Federal Income Tax. It was those nasty States that put the increased tax burden on you".
Fla doesn't have Income Tax. Other taxes will have to be raised.
255. Shep definitely GETS it! :)


...and, if you do nothing at all, if they can find a way, they will probably tax that, too!
...and, if you do nothing at all, if they can find a way, they will probably tax that, too!


And even that may come in the form of less charitable acts from Conservatives. For it is a fact that Conservatives give "FAR" more to charities than the PSUEDO openhearted Liberals.
Liberals give to Liberal causes and most of "that" giving is verbal.
Quoting theshepherd:
I know you are correct on this Shep but those local govt changes will impact us.


That's their plan. They'll be able to say "We didn't raise your Federal Income Tax. It was those nasty States that put the increased tax burden on you".
Fla doesn't have Income Tax. Other taxes will have to be raised.
Ok, I see what you are saying. Thanks!
Based upon some of our previous conversations, you are just going to love this one MLC!!!


Is Obama a Narcissist?



This is possibly the least of OUR problems!!!
JUST READ IT!!!
260. GetReal
That article sent a chill down my spine.
260.
That is not what I was expecting from that link.
It was much worse.
260. OMG! Oh, man, we're in trouble with this guy!
can some one copy and paste it?...cant access it from work :(
It's on americanthinker.com, todd. :)
I just want to know where the Justice Department is, please? LINK

Unbelievable, that something is not being done about this from a legal standpoint.



ACORN Watch: Charlie Gibson and the ostrich media; Update: Audio added
I just want to know where the Justice Department is, please?


Patience.
It "will" go Federal.
Emanuel doesn't want to kick the lid off his boss's friends bucket until certain bases are covered. They won't file any information until they know how far up the ladder it takes them.
We may see such claims as National Security Issues or the like arise if the President is about to get his face dirty.
Speaking of Jimmy Carter...;>)

The worst thing that ever happened to improving race relations in this country since slave traffic began was the death of Martin Luther King.
If MLK were still here the voice of reason would prevail. Sharp, Farrakhan, Jackson, Wright and all the other misguided and misleading fundraisers of their caliber would have their noses cut off.
BTW, where were all the Black Muslims on the day after 9/11 ??? What were they saying to speak against it
???
Peter Schiff made it official this AM on Morning Joe. He will enter the Senate race in CT for a chance to oust Dodd. Not sure who else is running besides him and McMahon, but Schiff mentioned 3/4 others were looking to win the Rep nomination.

Schiff had some intersting things to say, including bringing the troops home from around the globe, saying we aren't in a financial position to have the "luxury" of troops positioned around the world. ??? Not sure I agree with that comment from a security standpoint, but his economic standpoint is hard to argue.
Quoting homegirl:
Peter Schiff made it official this AM on Morning Joe. He will enter the Senate race in CT for a chance to oust Dodd. Not sure who else is running besides him and McMahon, but Schiff mentioned 3/4 others were looking to win the Rep nomination.

Schiff had some intersting things to say, including bringing the troops home from around the globe, saying we aren't in a financial position to have the "luxury" of troops positioned around the world. ??? Not sure I agree with that comment from a security standpoint, but his economic standpoint is hard to argue.
Good news and he is a libertarian (at heart). Agree with you regarding security issue.
Morning CG!

I don't know if he'll win the seat, he's got a few strikes against him...but we certainly need some people who understand modern economics and the effect government has on the private sector in Washington. Seems those that are in Washington today want it all, but don't know how to pay for it (BUSH!!) and don't truly understand the unintended consequences from the long term perspective.
G'morning, all.

Plz, check out the read in 119 in GR's blog. It was an awesome, informative read!

Catch y'all later. Willie Nelson today!
Wow, I believe $1024 is a new spot gold record. And, crude is at $73 this morning. UGH!

274. JuneB
Good morning MLC. Lots of reading to do to catch up. My amazingly wise friend Walter in Mass. who is 85, sent me this today:

Roll the clock back to the weeks just before Chrysler declared bankruptcy. Chrysler, like GM, was in dire financial straits and federal government graciously offered to "buy the company" and keep them out of bankruptcy and "save jobs." Chrysler was, in the words of Obama and his administration, "Too big to fail," same story with GM.

The feds organized their "Automotive Task Force" to fix Chrysler and GM. Obama, in an act that is 100% unconstitutional, appointed a guy named Steve Rattner to be the White House's official Car Czar- literally, that's what his title is.

Rattner is the liaison between Obama, Chrysler, and GM. Initially, the national media reported that Chrysler had made this list of dealerships. That is not true.

The Washington Examiner, Newsmax, Fox News and a host of other news agencies discovered that the list of dealerships was put together by the "Automotive Task Force" headed by none other then Mr. Steve Rattner.

Now the plot thickens. Remember earlier we said earlier that there was neither rhyme nor reason why certain dealerships were closed? Actually there's a very interesting pattern as to who was closed down.

Again, on May 27, 2009, The Washington Examiner and Newsmax exposed the connection.

Amazingly, of the 789 dealerships closed by the federal government 788 had donated money, exclusively, to Republican political causes, while contributing nothing to Democratic political causes. The only "Democratic" dealership on the list was found to have donated $7,700 to "Hillary's" campaign, and a bit over $2,000 to John Edwards. This same dealership, reportedly, also gave $200.00 to Obama's campaign.

Does that seem a little odd to you?

Steve Rattner, the guy who put the list together. Well he happens to be married to a babe named Maureen White.

Maureen happens to be the former national finance chairman of the Democratic National Committee. As such, she would have access to campaign donation records from everyone in the nation, Republican or Democrat.

But of course, this is just a wacky coincidence, we're certain.

Then comes another really wacky coincidence. On that list of dealerships being closed down, a weird thing happened inArkansas, North Louisiana, and Southern Missouri. It seems that Bill Clinton's former White House Chief of Staff, Mack McClarty, owns a chain of dealerships in that region, partnered with a fellow by the name of Robert Johnson. Johnson happens to be founder of Black Entertainment Television and was a huge Obama supporter and financier. These guys own a half dozen Chrysler stores under the company title of RLJ-McClarty-Landers.

Interestingly, none of their dealerships were ordered closed - not one- while all of their competing Chrysler/Dodge and Jeep dealership were! Eight dealerships located near the dealerships owned by McClarty and Johnson were ordered shut down. Thus, by pure luck, these two major Obama supporters now have virtual monopoly on Chrysler sales in their zone. Isn't that amazing?

Go look in The Washington Examiner, the story's there, and it's in a dozen or so other web-based news organizations, this isn't being made up.

275. JuneB
My Note:
After reading this, does it make you wonder about how they will ration healthcare? Just a thought.

Benjamin Franklin had it right when he said, "All that's necessary for evil to triumph is for good men to do nothing."
Well, I wondered what would come to light with that story June! Thanks for sharing.

SO...you think anything will come of it? Rattner is no longer the car czar, after stepping down. That's a lil too much nonsense and sounds like there must be something criminal??
277. JuneB

I don't know, HG. Not much being said about this. Obama's Car Czar, Steve Rattner, resigned on July 13 and was promptly replaced by former steel workers union boss Ron Bloom. According to CBS News, Rattner left "to return to private life and spend time with his family."

Seems like, he did what he was hired to do, took his money and ran before the @#$% hit the fan. If this had happened in the past, it would have been on the news every night. Now, corruption is acceptable and an everyday occurrence.

But what of these 789 family owned dealerships, lost overnight? And the peoples lives ruined? The media is silent.



279. JuneB
Again, from my friend Walter in MASS. regarding post #274.

Now if you thought Chrysler was owned by Fiat, you are truly mistaken.

Under the federal court ruling, 65% of Chrysler is now owned by the federal government and the United Auto Worker's union- Fiat owns 20%. The other 15% is till privately owned and presumably will be traded on the stock market.

Obama smiles and says he doesn't want to run the auto industry. As horrifying as this is to comprehend, and being as how this used to be the United States of America, it would appear that the president has the power to destroy private businesses and eliminate upwards of 100,000 jobs, just because they don't agree with his political agenda.

If you've ever wanted to make a difference about anything in your life, get on the phone to your national senator or representative in the House and demand an investigation on this.

Treasure Secretary Tim Geithner said of Obama Car Czar Steve Rattner's resignation, "I hope that he takes another opportunity to bring his unique skills to government service in the future." By the way, Rattner is under investigation for a multi-million dollar pay-to-play investment bank scandal in New York.

Uh-oh! But, we're certain that had nothing to do with his resignation.

And, according to several news sources out there, there are rumors he's being investigated for what could be pay-to-play scandal involving the closing of Chrysler and GM dealerships.

Again, that couldn't have anything to with his resignation- that's ridiculous!
280. JuneB
According to the Wall Street Journal, the Obama administration is justifying its decision to abandon our anti-missile shield, on their determination that Iran’s long-range missile program hasn’t progressed as rapidly as previously estimated. This despite the facts that:


*On February 2nd, Iran successfully launched a satellite into orbit using a rocket with technology similar to that used in a long-range ballistic missile.

*On May 20th, Iran test-fired a 1200-mile solid-fueled two-stage ballistic missile.

*On July 15th, Germany’s foreign intelligence service, BND, announced that Iran will be able to produce and test a nuclear weapon within six months. BND also stated that it has “no doubt” that Iran’s missile program is aimed solely at the production of nuclear warheads.

*On August 3rd, The Times of London reported that Western intelligence sources concluded that Iran has not only perfected the technology to build and detonate a nuclear weapon, could assemble a weapon in just six months, and could deliver the weapon on Iran’s Shebab-3 ballistic missile.

*Just yesterday French President Nicolas Sarkozy said: “It is a certainty to all of our secret services. Iran is working today on a nuclear [weapons] program.”


The only country other than Iran that is happy with President Obama’s decision is Russia.

--From The Heritage Foundation
Afternoon June:

"The only country other than Iran that is happy with President Obama’s decision is Russia."

Pretty sad, isn't it!
Quoting conchygirl:
Ok, I see what you are saying. Thanks!


NC sales tax went up last week instead of spending cuts!
Quoting nolesjeff:


NC sales tax went up last week instead of spending cuts!
We are sure to begin seeing more and more of this!

Afternooon BTW!
MLC....the link that you provided in #119 of GR's blog was a good read. Thanks. It's very critical of the Democrats overall, but it does include this passage which I found interesting.
.
.
In the real world, nothing except a single-payer system makes any sense. There are currently more than 1,300 private insurers in this country, forcing doctors to fill out different forms and follow different reimbursement procedures for each and every one. This drowns medical facilities in idiotic paperwork and jacks up prices: Nearly a third of all health care costs in America are associated with wasteful administration. Fully $350 billion a year could be saved on paperwork alone if the U.S. went to a single-payer system %u2014 more than enough to pay for the whole dayumed thing, if anyone had the balls to stand up and say so.

Everyone knows this, including the president. Last spring, when he met with Rep. Lynn Woolsey, the co-chair of the Congressional Progressive Caucus, Obama openly said so. "He said if he were starting from scratch, he would have a single-payer system," says Woolsey. "But he thought it wasn't possible, because it would disrupt the health care industry."

Huh? This isn't a small point: The president and the Democrats decided not to press for the only plan that makes sense for everyone, in order to preserve an industry that is not only cruel and stupid and dysfunctional, but through its rank inefficiency has necessitated the very reforms now being debated. Even though the Democrats enjoy a political monopoly and could have started from a very strong bargaining position, they chose instead to concede at least half the battle before it even began.
.
.
.
My words: That's a lot of money. With that kind of savings, we could provide Medicare level(high quality..you'll rarely if ever hear an old person complain about quality, availibility, or rationing of health care in this goverment run system of socialized medicine)health care to all, and have enough left over to pay down the deficit by $170 billion a year. And people who are already covered by employer plans would see an increase in their paycheck, as companies could start paying them extra salary instead of the health care benefit. Hmmmm, the whole thing makes too much sense.
.
.
Edited 1 italiscized word to meet blog standards, which wasn't mine to begin with. No need to offend or take offense.
OMG! Where's the WTO? Wow, we can bitch and moan about the prices of trading tires and make a great big court case out of it, but we can't take this surplus milk to staving children! Appalling!


Don't Cry Over Spilled Milk

Milk prices have plunged in recent weeks. Farmers in big dairy states like Wisconsin, Minnesota, and New York are hopping mad. Is there a conspiracy underway to suppress milk prices? Some must think so because Dairy Farmers Want Industry Probe.

Belgian Farmer Protest



Farmers spray milk onto a field in Ciney, Belgium, Wednesday Sept. 16, 2009. Farmers turned the Belgian highway and nearby fields white on Wednesday by spilling 3 million liters (3.2 million quarts) of milk to protest low prices which are pushing them toward financial ruin. Growing frustration with the economic downturn has led to widening protests across the European Union in recent weeks. (AP Photo/Yves Logghe)
Great posts, today, all. Thanks.
284. Yup, Cosmic. It was a great read. Glad you enjoyed it.

If anyone missed it over on GR's blog - here it is again here. Pay close attention to the players in the Senate FC and where they get campaign money! Not necessarily agreeing or disagreeing, either way, but interesting! I found it quite eye-opening, but not that surprising. Actually, I think it is pointing towards the solution I have suspected that would come out of HCR.



Sick and Wrong

How Washington is screwing up health care reform – and why it may take a revolt to fix it
Howdy, still thinking about this one :)

Is it pleasure or pain?

Dollar Trades Near One-Year Low Versus Euro on Risk Appetite


This one too

U.S. 2009 imports lowest since 2003 -report



Why not, these stories are about bird dogs, kinda. LoL

284
Cosmic
I am not sure but I think there is something in this post that tells me the waste in the myriad of forms comes from gov regulation inconsistencies. Not the least of which is the law that disallows interstate insurance. Because as sure as I am alive I can tell you Most private companies will not have (to that degree) excessive paperwork if its not required by regulation.

I hope that is understandable.

"In the real world, nothing except a single-payer system makes any sense. There are currently more than 1,300 private insurers in this country, forcing doctors to fill out different forms and follow different reimbursement procedures for each and every one. This drowns medical facilities in idiotic paperwork and jacks up prices: Nearly a third of all health care costs in America are associated with wasteful administration. Fully $350 billion a year could be saved on paperwork alone if the U.S. went to a single-payer system %u2014 more than enough to pay for the whole thing, if anyone had the balls to stand up and say so."

Edit to remove a very bad word I did not catch.
A friendly WU member pointed it out to me.

Thank You WU friend. :)
292. JuneB
Sorry I posted this, as I just found out it is deceptive.

Although true, it turns out that 88% of contributions from ALL dealerships went to Republicans and 12% went to Democrats. So that is NOT why all these dealerships were forced out of business by the President.

I want to set the record straight on this statement:

Amazingly, of the 789 dealerships closed by the federal government 788 had donated money, exclusively, to Republican political causes, while contributing nothing to Democratic political causes. The only "Democratic" dealership on the list was found to have donated $7,700 to "Hillary's" campaign, and a bit over $2,000 to John Edwards. This same dealership, reportedly, also gave $200.00 to Obama's campaign.

Sorry again, and I will try to check my facts better.
JuneB...That's very right of you to correct the record. Thank you for advancing the discussion. It's still a story that makes one go hmmmmm....
Good morning all my fellow racist terrorists!
Good Morning All!

Anecdotally Speaking:




This is so simple Obama could hand this to the elementary school kids he plans to visit and they will wonder... and ask, "If the government can't get all the other stuff right, why would I trust them with my health care"?





The U.S. Post Service was established in 1775 - they've had 234 years to get it right; it is broke, and even though heavily subsidized, it can't compete with private sector FedExp and UPS services.

Social Security was established in 1935 - they've had 74 years to get it right; it is broke.

Fannie Mae was established in 1938 - they've had 71 years to get it right; it is broke. Freddie Mac was established in 1970 - they've had 39 years to get it right; it is broke. Together Fannie and Freddie have now led the entire world into the worst economic collapse in 80 years.

The War on Poverty was started in 1964 - they've had 45 years to get it right; $1 trillion of our hard earned money is confiscated each year and transferred to "the poor"; it hasn't worked.

Medicare and Medicaid were established in 1965 - they've had 44 years to get it right; they are both broke; and now our government dares to mention them as models for all US health care.

AMTRAK was established in 1970 - they've had 39 years to get it right; last year they bailed it out as it continues to run at a loss!

This year, a trillion dollars was committed in the massive political payoff called the Stimulus Bill of 2009; it shows NO sign of working; it's been used to increase the size of governments across America, and raise government salaries while the rest of us suffer from economic hardships. It has yet to create a single new private sector job. Our national debt projections (approaching $10 trillion) have increased 400% in the last six months.

"Cash for Clunkers" was established in 2009 and went broke in 2009 - - after 80% of the cars purchased turned out to be produced by foreign companies, and dealers nationwide are buried under bureaucratic paperwork demanded by a government that is not yet paying them what was promised.

So with a perfect 100% failure rate and a record that proves that each and every "service" shoved down our throats by an over-reaching government turns into disaster, how could any informed American trust our government to run or even set policies for America's health care system - - 17% of our economy?

Maybe each of us has a personal responsibility to let others in on this brilliant record before 2010, and then help remove from office those who are voting to destroy capitalism and destroy our grandchildren's future.



--
"It is the duty of the patriot to protect his country from his government"
-- Thomas Paine

"How fortunate for governments that the people they govern don't think."
-- Adolph Hitler

Quoting MidWestChaser:
Good morning all my fellow racist terrorists!


Hello comrade
Good MORNING! SO much great info on here!

June, thanks for the correction! Guess that's why nothing came of it.

Cosmic, here's what I think the truth is, that no one wants to say regarding healthcare reform. President Obama, and most far left liberals, do want a single payer system, however, you can't just flip a switch and go to the single payer system because it would not be a smooth transistion. Millions would lose their job by putting health insurance companies out of business. That's why they are pushing for the "public option" because it would achieve a slow transistion to the single payer system.
I agree that a single payer system is one way to control costs, but it's not the only way. In fact, big insurance has been affecting legislation for years that has helped their bottom line. NO THANKS TO THE GOP. We just need reforms that reverse some of the bad legislation, and add consumer protections and open up competition across state lines. (others as well, but I'm getting into rant territory, lol)
Also, I'm not sure we could streamline the paper pushers through gov't single payer system...gov't paper work isn't exactly known for it's short forms, but it might be less confusing for a doctors office and hospitals than having to deal with 1300 different H/C companies forms! ;)


http://www.ibdeditorials.com/IBDArticles.aspx?id=338077721221686

Separating 'He Lied' From The 'Elides'

By CHARLES KRAUTHAMMER | Posted Thursday, September 17, 2009 4:20 PM PT

You lie? No. Barack Obama doesn't lie. He's too subtle for that. He . . . well, you judge.

Herewith three examples within a single speech — the now-famous Obama-Wilson "you lie" address to Congress on health care — of Obama's relationship with truth:

1. "I will not sign (a plan)," he solemnly pledged, "if it adds one dime to the deficit, now or in the future. Period."

Wonderful. The president seems serious, veto-ready, determined to hold the line. Until, notes Harvard economist Greg Mankiw, you get to Obama's very next sentence: "And to prove that I'm serious, there will be a provision in this plan that requires us to come forward with more spending cuts if the savings we promised don't materialize."

This apparent strengthening of the pledge brilliantly and deceptively undermines it. What Obama suggests is that his plan will require mandatory spending cuts if the current rosy projections prove false. But there's absolutely nothing automatic about such cuts. Every Congress is sovereign.

Nothing enacted today will force a future Congress or a future president to make any cuts in any spending, mandatory or not.

Just look at the supposedly automatic Medicare cuts contained in the Sustainable Growth Rate formula enacted to constrain out-of-control Medicare spending. Every year since 2003, Congress has waived the cuts.

Mankiw puts the Obama bait-and-switch in plain language. "Translation: I promise to fix the problem. And if I do not fix the problem now, I will fix it later, or some future president will, after I am long gone. I promise he will. Absolutely, positively, I am committed to that future president fixing the problem. You can count on it. Would I lie to you?"

2. And then there's the famous contretemps about health insurance for illegal immigrants. Obama said they would not be insured. Well, all four committee-passed bills in Congress allow illegal immigrants to take part in the proposed Health Insurance Exchange.

But more importantly, the problem is that laws are not self-enforcing. If they were, we'd have no illegal immigrants because, as I understand it, it's illegal to enter the United States illegally. We have laws against burglary, too. But we also provide for cops and jails on the assumption that most burglars don't voluntarily turn themselves in.

When Republicans proposed requiring proof of citizenship, the Democrats twice voted that down in committee. Indeed, after Rep. Joe Wilson's "You lie!" shout-out, the Senate Finance Committee revisited the language of its bill to prevent illegal immigrants from getting any federal benefits. Why would the Finance Committee fix a nonexistent problem?

3. Obama said he would largely solve the insoluble cost problem of ObamaCare by eliminating "hundreds of billions of dollars in waste and fraud" from Medicare.

That's not a lie. That's not even deception. That's just an insult to our intelligence. Waste, fraud and abuse — Meg Greenfield once called this phrase "the dread big three" — as the all-purpose piggy bank for budget savings has been a joke since Jimmy Carter first used it in 1977.

Moreover, if half a trillion is waiting to be squeezed painlessly out of Medicare, why wait for health care reform? If, as Obama repeatedly insists, Medicare overspending is breaking the budget, why hasn't he gotten started on the painless billions in "waste and fraud" savings?

Obama doesn't lie. He merely elides, gliding from one dubious assertion to another. This has been the story throughout his whole health care crusade. Its original premise was that our current financial crisis was rooted in neglect of three things — energy, education and health care.

That transparent attempt to exploit Emanuel's Law — a crisis is a terrible thing to waste — failed for health care because no one is stupid enough to believe that the 2008 financial collapse was caused by a lack of universal health care.

So on to the next gambit: selling health care reform as a cure for the deficit. When that was exploded by the Congressional Budget Office's demonstration of staggering ObamaCare deficits, Obama tried a new tack: selling his plan as revenue-neutral insurance reform — until the revenue neutrality is exposed as phony future cuts and chimerical waste and fraud.

Obama doesn't lie. He implies, he misdirects, he misleads — so fluidly and incessantly that he risks transmuting eloquence into mere slickness.

Slickness wasn't fatal to "Slick Willie" Clinton because he possessed a winning, near irresistible charm. Obama's persona is more cool, distant, imperial.

The charming scoundrel can get away with endless deception; the righteous redeemer cannot.

© 2008 Washington Post Writers Group


G'morning, all!
300. JuneB
#291 - Spathy
#297 - HG

Hey, I may be asking a stupid question, but if so much money can be saved on paperwork, why not just make a Nationwide standard form that every insurance company will have to use?

Also, if everyone is for more choice, why not pass a law that anyone can pick any insurance company in the USA?

Wouldn't this go a long way to lower HC costs?

Why do we want to re-invent the entire system and have the Government take over HC? Seems to me that it is not about saving money as they are proclaiming. Seems to me that these politicians will hit the "Mother Lode" will have a whole new system to pillage and rob, just as they have done with Social Security. But than, like I said, this may be a stupid question on my part.
Quoting JuneB:
Why do we want to re-invent the entire system and have the Government take over HC?


We do want to reform HC. Insurance companies do not (except from which they will further benefit); and therefore, gov't does not. However, they will paint a rosie picture so that we may "think" that is what they want and are doing.

They will pass a HCR bill, but it will benefit insurance. And, it will cost taxpayers tremendously.
Nobody on the right or left is advocating for the goverment to take over health care. What some are advocating is for the goverment to take over health insurance, with the single payer system being the ultimate swap from corporation to the citizen, with the goverment handling the administrative duties.
.
.
In my mind it boils down to the availibility and cost of quality health care for the citizen versus protecting the profits of the corporation. When I read my Constitution I see nothing about protecting corporations. I see something about providing the citizen with the right to a pursuit of happiness.
.
The big question is do we trust that the goverment can run things efficiently enough. The past has showed us that the goverment is not great here. Even in the military, we see untold billions of waste and fraud. But in the current health care system, we have waste and fraud in both the private market and in the Medicare market.
.
.
But, a little change won't save us financially in the long run. Eventually, we are going to have to institute a major overhaul or the country will go bankrupt.
.
.
There's still time for a more positive change, but where we presently stand in the debate is exactly as MLC says in #301.
If the UN is going to keep blasting our currency and advocate a new world currency, well then, I think we should change the locks on the door in NY and put the building up for sale. The UN can then relocate to Iran.
302. Thank you, Cosmic.
305. JuneB
#303-
ROFLMAO!!!

LOCATION, LOCATION, LOCATION! Available for immediate occupancy, beautiful opulent palace in Iraq with a scenic view, overlooking the river. Firework display every night!
Quoting JuneB:
#303-
ROFLMAO!!!

LOCATION, LOCATION, LOCATION! Available for immediate occupancy, beautiful opulent palace in Iraq with a scenic view, overlooking the river. Firework display every night!
That is hysterical June! Yep, location, location, location! LOL
307. JuneB
I just called Congress to see if I could get the listing but was told that they are giving it to Sen. Dianne Feinstein's husband!!! LOL, just kidding, but I was planning to share the commission with Cowboy for the great idea!
Quoting JuneB:
I just called Congress to see if I could get the listing but was told that they are giving it to Sen. Dianne Feinstein's husband!!! LOL, just kidding, but I was planning to share the commission with Cowboy for the great idea!


LOL! ;)
Do ya think anyone will hear them?

Former CIA chiefs seek halt to interrogation probe
The Associated Press


Seven former CIA directors are asking President Barack Obama to quash Attorney General Eric Holder's investigation into harsh CIA interrogations of terror suspects during the Bush administration.

The request came in a letter Friday from CIA directors who served both Democratic and Republican presidents, including three who served former President George W. Bush.

Holder announced in August that he was appointing an independent counsel to investigate incidents of potential abuse that were reported by the CIA inspector general to the Justice Department.
Attorney General Eric Holder hasn't made any effort to investigate ACORN. Both Houses of Congress voted successfully to stop some of ACORN's Federal funding. Why doesn't the top lawyer in the land jump on board?
Quoting HushLimbaugh:
Attorney General Eric Holder hasn't made any effort to investigate ACORN. Both Houses of Congress voted successfully to stop some of ACORN's Federal funding. Why doesn't the top lawyer in the land jump on board?


GR8 question! Absodayumlutely! There is big effort taking place behind the scenes right now to insulate the POTUS from his Obamacorn scandal that could likely reveal millions of federal dollars funneled through Acorn to the Obama campaign. Interestingly, I am only now learning that the national Acorn headquarters in NOLA were temporarily moved to Chicago following Katrina. Coincidence? Perhaps, a meeting of the players came together in Chicago?

If the insulation were not so urgent, we would not have seen both houses of Congress vote to cut-off funding so quickly. I think that directive likely came straightly from Rhambo at the White House.
Rhambo is fully engaged in damage control and he is imploring help from Holder within the Justice Department. Otherwise, Holder would have already been visible on the Acorn scandal.

Janet Yellen's Recovery Outlook

Flash forward September 15, 2009: The Fed Funds rate is effectively 0%. The Fed would like to cut but can't as noted in The Problem with Janet Yellen's Recovery Outlook.

Quotes from San Francisco Fed Governor Janet Yellen

- "The chances are slim for a robust rebound in consumer spending, which represents around 70% of economic activity. Consumers are getting a boost from the fiscal stimulus package. But this program is temporary."

- "It may well be that we are witnessing the start of a new era for consumers following the traumatic financial blows they have endured. While certainly sensible from the standpoint of individual households, this retreat from debt-fueled consumption could reduce the growth rate of consumer spending for years."

- “Normally, if credit flows were restricted by these types of financial headwinds, the Fed would ease the stance of monetary policy by cutting its federal funds rate target. But the funds rate is already at zero for all practical purposes, leaving the Fed’s traditional policy tool as accommodative as it can be.

- “Many versions of the Taylor rule, a well-known policy benchmark based on the state of the economy and inflation, indicate that we should lower the funds rate well below this zero bound -- if such a thing were possible.

Sooner or later market participants will figure out this recovery and this rally are both nothing but hot air and wishful thinking. Until they do, enjoy the party. In the meantime, try not to confuse cash-for-clunkers, housing schemes, and other government stimulus programs for sustainable demand. A massive secular shift in attitudes has taken place as cash-strapped, credit weary consumers have at long last decided "Less Is More".
Good Saturday to ya, Cowboy,

Thanks for stopping by earlier this week; yes I was just a little north of you this time last weekend, on Lake enid!

Hope all is well and you are enjoying the weekend!

Weekend Comments at dazzlejunction.com
Weekend Comments
Myspace Comments - Myspace 2.0 Layouts
Hey, Gams! Whoa! That tropical-lookin' drink sure looks good. You have a great weekend too. Was glad to see you visit the old "hosptiality" state and thank you for sharing your pics! :)
Are there ANY honest people in government?





http://www.ibdeditorials.com/IBDArticles.aspx?id=338162044681327

Charles Rangel, The Entitled One

By RICHARD COHEN | Posted Friday, September 18, 2009 4:20 PM PT

Once upon a time, before I began an interview with Rep. Charles Rangel, I was warned by an aide not to bring up the 1970 race in which the upstart Rangel defeated the virtually legendary Adam Clayton Powell to gain his House seat.

In the intervening years, Powell had gone from has-been to icon, with both a state office building and a boulevard named for him in Harlem, and it did Rangel no good in his district to be remembered as the man who brought down Powell — a little bit of history that desperately needed airbrushing.

This, we are now learning, is Rangel's true vocation.

Rangel is now chairman of the House Ways and Means Committee and a man of immense importance in Washington. Nonetheless, he has been busy of late revising and amending the record, backing and filling, using buckets of Wite-Out as he discovers or remembers properties he has owned in New York, New Jersey, Florida and the Dominican Republic and God only knows where else — and has forgotten or neglected to fully report on the required forms, not to mention the income from them. Oops!

Rangel recently even discovered bank accounts that no one in the world, apparently including him, knew he had. One was with the Congressional Federal Credit Union, and another was with Merrill Lynch — each valued between $250,000 and $500,000. He somehow neglected to mention these accounts on his congressional disclosure forms, which means, if you can believe it, that when he signed the forms, he did not notice that maybe $1 million was missing. Someone ought to check the lighting in his office.

The dim bulb could also have accounted for why Rangel did not notice that he was soliciting contributions for the curiously named Charles B. Rangel Center for Public Service on the congressional letterhead of the very same Charles B. Rangel.

It may also account for why he failed to report dividend income from various investments in addition to what he made by selling a townhouse in Harlem. The place went for $410,000 in 2004, and had been rented — or not — to various people, who paid rent or didn't — since Rangel reported no income for years at a time. This is what he did, too, with the rent he earned on his Dominican Republic villa. Again, nada.

There is something wrong with Charlie Rangel. Either he did not notice that he was worth about twice as much as he said he was — which is downright worrisome in a congressional leader — or he thinks that he's above the law — which is downright worrisome in a congressional leader.

I was with Rangel on election night last year and heard him speak movingly and eloquently about what it meant for a black person to become president of the United States — my God, who would have thought this day would ever come? — and he moved me to tears. So I don't think age has muddled his brain. He is sharper on a bad day than most people on a good one.

But he suffers from the degenerative disease called Congressional Sclerosis. Its symptom is the belief that the rules, especially the petty ones, no longer apply to you.

This happens over time. It comes with seniority and a sense of victimization that combine to produce the onset of entitlement for goodies to which, in the course of things, you are not entitled.

All this is abetted by the righteous belief that everyone else is making money and taking private planes and dipping their tootsies in the balmy Caribbean on a given February Friday — and so why can't you? You have the power and the staff — just look at all those people! — and flunkies who will hold the elevator for you, pick you up at Reagan National Airport and on the other end at LaGuardia — and you ought to have some commensurate luxuries. This is only right.

This is the disease that ended Powell's career. He had good reason for his bitterness — a black congressman whose staff couldn't even eat in the House cafeteria — but he marshaled all the slights, all the insults, to excuse an abominable attendance record and contempt for the law.

In the end, the very Harlem that today honors Powell turned against him and elected a Korean War vet named Charles Bernard Rangel. Now, all these years later, the omissions, deletions, amendments, corrections and curious accumulation of wealth make one revise the history that Rangel wants obliterated: He didn't beat Powell. He joined him.

© 2008 Washington Post Writers Group
I always laugh at Rangel.
He reminds me of some character that would run a
plastics factory on the south side.

I know we have a lot of good politicians,
but how in this world do all these obviously
slimy ones get elected?

Speaking of slimy, has anyone heard anything
from the Breck Boy lately?
Good morning, all!

Is Pent-Up Inflation From Fed Printing Waiting On Deck?



Inquiring minds are wondering about the possibility of "pent-up" inflation from the massive expansion money supply by the Fed. Our search for the truth starts with the question "Which Comes First: The Printing or The Lending?"

This is a critical question given the massive expansion of base money by the Fed as shown in the following chart.


Quoting latitude25:
I always laugh at Rangel.
He reminds me of some character that would run a
plastics factory on the south side.

I know we have a lot of good politicians,
but how in this world do all these obviously
slimy ones get elected?

Speaking of slimy, has anyone heard anything
from the Breck Boy lately?


Rangel is a travesty to our form of would be "respectable" government. Rangel and respect, however, do not belong in the same sentence together!
The dollar must be up a tad this morning - both gold and oil are down slightly.
Morning MLC:

Hope you had a great weekend. Looks like lots of us stayed away from here over the weekend and enjoying the end of summer. Can't wait for the cooler weather.

I see now there are discussions about bailouts for the failing newspapers.
Morning all!

I also liked these comments from Mish's August 24th article...

"What we are going through is a deleveraging crisis and we haven't experienced one of those since 1930. Last time it took 10 years and a world war to get rid of it, and this time we are staring up with 1.7 times the level of debt in America, not even mentioning the derivatives catastrophe that is also there."

"And deleveraging which is the attempt by the private sector to reduce its debt level can overwhelm the government's stimulus. The whole problem was caused by irresponsible lending and the only way out of this ultimately is to eliminate that debt. The debt has to be written off"

Good Morning MLC, CG & HG!


Where is everyone?
Morning Bills and HG:
Bills - pretty dead blog - guess everyone is enjoying the end of summer.
Quoting homegirl:
The debt has to be written off"



They are still quietly trying to do just that, but $650,000,000,000,000 in derivatives is massive. The FEDs are still throwing money in the abyssal hole and it's not even close to filling up yet. Their conduit, AIG, is still having issues and will likely be back at the trough before too long.
Quoting billsfaninsofla:
Good Morning MLC, CG & HG!


Where is everyone?


It's back to school. Football. Our lives, we try to move on. Meanwhile, back at the ranch in DC, (while our backs are turned and guard down) Congress and the POTUS are stealing lollipops!
post 318 - Doom & Gloom -- but the spouse will appreciate the read - thanks MLC
Quoting conchygirl:
Morning Bills and HG:
Bills - pretty dead blog - guess everyone is enjoying the end of summer.



that's us in Florida. Enjoying the "end" of summer. I cannot wait until we have the first "cool" front.
mornin
Mornin, I just can't figure some of this stuff out. Say What?

GOP chief hints racism involved in Obama, Paterson controversy


There is a video interview at the bottom of the article. I guess we should expect the unexpected :)


BTW, keep an eye on your local Blockbuster ! They are liquidating my local store already.

Blockbuster to close up to 960 stores



Edit, and interesting recent stuff!



Earlier this year. Makes me feel warm and fuzzy, like a mushroom :(



"hinted that the President of the United States (an African-American)"

Like everyone else, I'm still trying to figure out this racist thing.

I know why the liberals and democrats are playing the race card,
everyone has that figured out.

What's got everyone confused is this guy, Obama, made a big effort
to campaign as 1/2 white and 1/2 black.

Then the second he's elected, he becomes our first black president.

I mean for starters, who cares.
and if it's not supposed to matter, and obviously it didn't,
why are the people most affected by it,
the ones making the big deal out of it?
Hey MLC- This guy doesn't even live in the area he represents down here. He "lives" in Maryland so he can send his daughters to a chosen private school. I think his in-laws have a place down here that he claims is "home". Yet the Dems keep voting him in, year after year.


Robert Wexler criticizes ACORN's actions, but votes against cutoff of federal money

> Posted by Anthony Man on September 18, 2009 07:19 AM
U.S. Rep. Robert Wexler, a Democrat who represents northern and central Broward, was the lone South Florida member of Congress who voted Thursday against an amendment to revoke federal funding for ACORN, the community organizing group that's come under attack from the political right.

"The congressman believes that ACORN's behavior is deplorable, and he would not be in favor of supporting federal funding for any organization engaged in fraud," spokeswoman Ashley Mushnick said. "The problem is that the bill is not going to be held up in court.

"It’s a bill that is focused on punishing one organization before they’ve been convicted in a court of law.... It's a Bill of Attainder, which is unconstitutional and is not going to be held up in any court of law in the United States.

"The congressman might support some other kind of reprimand for ACORN," she said. "He’s not in any way endorsing what they did, and thinks the government has to take some action to prevent this kind of thing. But this amendment that passed today is not going to do a thing because it’s not legal."

The amendment passed 345-75 with two representatives -- including Alcee Hastings, D-Miramar -- voting "present."

Other South Florida representatives all voted "yes."

Below, an Associated Press account of the House action:

The House voted Thursday to deny all federal funds for ACORN in a GOP-led strike against the scandal-tainted community organizing group that comes just three days after the Senate took similar action.
"ACORN has violated serious federal laws, and today the House voted to ensure that taxpayer dollars would no longer be used to fund this corrupt organization," said second-ranked House Republican Eric Cantor of Virginia.

The vote, on a provision attached to a student aid bill, was 345-75, with Democrats supplying all the "no" votes.

On Monday the Senate voted 83-7 to deny housing and community grant funding to ACORN, which stands for the Association of Community Organizations for Reform Now.

Republicans accelerated their attacks on the liberal-leaning group a year ago when ACORN, in conducting a massive voter registration drive, was accused of submitting some false registration forms.

On a hidden-camera video released on Monday, two ACORN employees are seen apparently advising a couple that was posing as a prostitute and her pimp to lie about her profession and launder her earnings. The video was the latest in a series that has already led to the firing of four ACORN employees in Baltimore and Washington. It was created by James O'Keefe and Hannah Giles and posted on BigGovernment.com, where O'Keefe identifies himself as an activist filmmaker.

ACORN spokesman Scott Levenson blasted the video shot at the organization's Brooklyn office, saying the group believes the voices of the couple were dubbed over to alter the conversation and make the interaction appear more objectionable than it may have been.

ACORN said Wednesday that it is ordering its own independent investigation of the incidents, while stressing that they were isolated cases.

The Census Bureau, meanwhile, also has severed its ties with the group for the 2010 national census.

Republicans have urged federal officials to go further by launching a comprehensive investigation of how ACORN spends and manages federal money.

"As long as taxpayers are subsidizing ACORN and its affiliates, we need to use every measure possible to ensure that those dollars are being spent and managed appropriately," said Rep. Darrell Issa, R-Calif., sponsor of the measure that passed the House.

The Senate and House initiatives to cut funding for ACORN won't take effect until the bills to which they are attached clear Congress and are signed by President Barack Obama. The Senate measure is attached to a fiscal 2010 spending bill.

"President Obama needs to indicate whether he'll sign this bill and join us in ending all taxpayer funds for this corrupt organization," House Republican leader John Boehner of Ohio said after the vote.

White House press secretary Robert Gibbs on Wednesday said the conduct seen on the tapes "is completely unacceptable." He said the Obama administration "takes accountability extremely seriously" and noted that the Census Bureau had determined that ACORN could not meet its goal for conducting a fair and accurate count next year.


POSTED IN: Robert Wexler (70), U.S. House (141)
Hey Bills - that guy keeps coming up in the news and my opinion is this should not be allowed. Oh well, bigger than us.
Did you guys catch Obama admitting he didnt know ACORN was getting federal funding.LOL

He really thinks we are that dumb? This is the same guy whogave A"CON" $800,000 to help him with his campaign, promised to track every dime of the stimulus, has asked groups like SEIU and the Apollo alliance to help craft and draft the stimulus and health care.

Come on Obama do yyou really think you didnt know about the federal funding.

This makes Obama look bad no matter what either a. he is lying to our face or b. he is incompatant in exercising prudancy with the taxpayers money. Either way he look incredibally unquailified.

And dont even get me started on his side stepping the cap and trade tax question.
Here's a different take on the Acorn situation. Not in anyway defending the actions of the employees here, but I thought this was an interesting point of view.
.
.
ACORN has received a grand total of $53 million in federal funds over the last 15 years -- an average of $3.1 million per year. Meanwhile, not millions, not billions, but trillions of dollars of public funds have been, in the last year alone, transferred to or otherwise used for the benefit of Wall Street. Billions of dollars in American taxpayer money vanished into thin air, eaten by private contractors in Iraq and Afghanistan, led by Halliburton subsidiary KBR. All of those corporate interests employ armies of lobbyists and bottomless donor activities that ensure they dominate our legislative and regulatory processes, and to be extra certain, the revolving door between industry and government is more prolific than ever, with key corporate officials constantly ending up occupying the government positions with the most influence over those industries.
.
.
If one were to watch Fox News or listen to Rush Limbaugh -- as millions do -- one would believe that the burden of the ordinary American taxpayer, and the unfair plight of America's rich, is that their money is being stolen by the poorest and most powerless sectors of the society. An organization whose constituencies are often-unregistered inner-city minorities, the homeless and the dispossesed is depicted as though it's Goldman Sachs, Blackwater, Haillburton and combined, as though Washington officials are in thrall to those living in poverty rather than those who fund their campaigns. It's not the nice men in the suits doing the stealing but the very people, often minorities or illegal immigrants, with no political or financial power who nonetheless somehow dominate the government and get everything for themselves. The poorer and weaker one is, the more one is demonized in right-wing mythology as all-powerful receipients of ill-gotten gains; conversely, the stronger and more powerful one is, the more one is depicted as an oppressed and put-upon victim (that same dynamic applies to foreign affairs as well).
.
.
.
The source of these words.Link
335
Then let's examine Left Wing Mythology.

If those fat cats are smart enough to steal all that money, then everyone should be stupid enough to give illegals and slackers any entitlement they demand.
Sound good?
My concern is why our president continues to lie about his
connections to ACORN.

And why does the news media, let Obama get away with lying like he does?

I just saw Obama on an interview with George Stephanopoulos on Sunday.
Stephanopoulos asked him about ACORN.

Obama looked him straight in the face and said,
He (Obama) was not aware that ACORN got federal money.

That is a lie.

In 1994-5, Obama as an attorney, represented ACORN in a "motor-voter" law suit.
Motor-Voter is a federal program, federally funded, and the crux of the law suit
was that ACORN did not think they received enough federal money!

It was federal funding that was pivotal in that case.

It is impossible for an attorney, Obama, to have represented ACORN
in a law suit contesting federal funding for a federal program - motor-voter -
and then say he's not aware that ACORN receives federal monies.

Then that same president turns around and recommends ACORN to receive
federal funding again for another federally funded voter registration program.

Why does the news media allow him to lie and get away with it like that?

.

.

What a lier!
And why does the news media, let Obama get away with lying like he does?

Fox doesn't.
You'll have to ask the others who helped elect him by downplaying his faults and past associations why.
Good evening, all. Thanks for the posts. I'll eyeball them all a bit closer a little later.

In the meantime, it looks like the narcissist clown can't stay off of television, making the talkshow circuit over the weekend, etc. UGH! I want to know who is running the country? With him in front of a camera A L L of the dayum time, Rhambo must be aging by the day handling the country's business. God knows the LIAR sure isn't - he doesn't have enough time to hold a meeting and listen to colleagues. By the time he gets through sprucing up his speech, sprucing himself up, spending a few minutes with his family and getting to where he has to be and back and all that - there is NO WAY he is TCB!

You know it's not BIDEN - doesn't have the aptitude for it - so, that only leaves Rhambo! God help us!
339
ditto
There is a certain General that sure needs his ear.
But, he'll find time for the Libyian and Iranian punks.
and then turns around and reneges on our agreement with NATO for
missle defence in eastern Europe.

This is the real reason that we are losing our standing in the world.
They see it as they can't trust us,
and they shouldn't.
Every four years we can have a completely different agenda.

This sort of thing makes us look weak, defenseless, and not trustworthy.
a bunch of spineless appeasers.
Receipts and Outlays of the US Government Fiscal Year 2009 (through June) LINK



The Monthly Treasury Statement of Receipts and Outlays of the United States Government is prepared by the Financial Management Service, Department of the Treasury. For the first nine months of fiscal year 2009, outlays have averaged approximately $316 billion per month, while receipts have averaged approximately $176 billion per month for an average deficit of $140 billion per month.

A particularly troubling aspect of this chart is that receipts did not exceed outlays in April of this year. April is typically the month of highest receipts because individual taxpayers file their tax returns and pay their remaining tax liabilities for the preceding calendar year in April. And self-employed individuals pay their first quarter estimated tax payments in April, also. Receipts in April 2008 totaled $403 billion (the single highest month on record) whereas receipts in April 2009 totaled $266 billion, a decline of 34% in tax receipts. Since 1981, there has only been one other year (1986) in which Outlays exceeded Receipts during April.
Quoting Ossqss:
Ok, the world has completely flipped upside down. I give up ! Someone give me some koolaid :)

Report: FDIC could seek bailout from banks--Healthy big banks may lend billions to shore up the government fund that insures regular deposit accounts, according to a report Tuesday.


Think we will all need more than just kool-aide. :(
Anyone remember the Brooklyn raid a few weeks ago? There is more to that story and this one.


FBI Issues Terror Alert
Quoting latitude25:
My concern is why our president continues to lie about his
connections to ACORN.

And why does the news media, let Obama get away with lying like he does?

I just saw Obama on an interview with George Stephanopoulos on Sunday.
Stephanopoulos asked him about ACORN.

Obama looked him straight in the face and said,
He (Obama) was not aware that ACORN got federal money.

That is a lie.

In 1994-5, Obama as an attorney, represented ACORN in a "motor-voter" law suit.
Motor-Voter is a federal program, federally funded, and the crux of the law suit
was that ACORN did not think they received enough federal money!

It was federal funding that was pivotal in that case.

It is impossible for an attorney, Obama, to have represented ACORN
in a law suit contesting federal funding for a federal program - motor-voter -
and then say he's not aware that ACORN receives federal monies.

Then that same president turns around and recommends ACORN to receive
federal funding again for another federally funded voter registration program.

Why does the news media allow him to lie and get away with it like that?

.

.

What a lier!

I watched the clip of that show. The POTUS did not lie about Acorn. He did not say that he didn't know that Acorn received any Federal money. He did say that he didn't know that Acorn received a large amount of federal money. And that's true, they don't(or didn't) receive a large amount. 3.5 million a year? I think our deficit goes up by that much every minute. He sloughed the question off like it's not a big deal, which it's not. Acorn has been ginned up as a poster child for rotten crooked politics. Just another diversion to distract us from talking about the real important stuff, like health care, Afghanistan, the deficit, etc.
Frankly CE,

Because it's not a lot of money for our government.

But it is a lot of money for an organization that operates like ACORN.

ACORN has very few actual employes, if you want to call them that.
They get around any responsibility by hiring people and calling them
independent contractors.
They have a very low overhead.

$3.5 million to an organization like ACORN is a lot of money to ACORN.

and that's what counts

Along with them advising people how to get around the law
and do things illegally.
Cosmic, Lat - I think both of you make good points. The resounding truth here is if it's "wrong" it is just "wrong." It doesn't matter whether its $3 million or $300 billion. It is still wrong. And, when you consider that government does this with (even in smaller amounts) Acorn and this one and that one and that one. Well, pretty soon, it adds up to real money. It's not just the big stuff that gets us. It's A L L the smaller stuff everywhere compiled that adds up considerably - probably even more if we got right down to the brass tacks of it!

There should be no more funding for Acorn. I laughed when the heifer said she was going to "audit!" LMAO. Now? And, with what money are you going to pay for this audit? Our money? Give it a rest. Acorn is D E A D! And, should be. And many other such crooked (and there are 1,000s) orgs, businesses, etc, should be joining them in the clink!
Hi MLC
I honestly have not been in the mood to read more of the crp that this country's so called leaders are doing.

I will say that this change/conflict of what to do in Afghanistan is really bothering me.
We have got to find a way to motivate the honest people there.
Speaking from my ars here! I almost wish we were the imperialist country the left claims we are.
Only for the reason of telling Afghans that we will completely take over their country if they don't get their act together!
If they thought we were England a few hundred years ago they might believe the bluff.
We cant leave and we cant do it half ars!
It's a mess, spathy, for sure!
Howdy MLC, my appologies for having some truncated posts recently. That can happen in a work environment sometimes :)

Mess, is an appropriate word. I looked at things from 30,000 ft. today and am quite startled about the state of our union. Think about it. Economy, Monetary policy, Unemployment, Commercial/residential mortgage issues, FDIC issues, Stimulous, Health care, War on terror, home grown terror, Acorn, Nukes, Racism claims, and on and on and on. Let alone many underlying movements. surfacing. Where does the average American find sanity now days. Scary !

It seems we have chaos in every direction.

How do we survive? Really, I am starting to wonder!

LOL

Oss, certainly, I don't have all the solutions, but I do know that more ineffective, more costly government is NOT the answer. Government breeds government mentalities - not busines mentalities, totally different spectrums of thought.

Yes, it is chaos. It's been chaos for some time. I often wonder if LBJ considered (or was threatened) with the same fate of Kennedy? We've been going down hill exponentially since that time; although, it started imo, in 1913 when the Federal Reserve was given power over our monetary system.

We must take back the country, one brick at time - the people must do it. Government will not give up the power it feeds upon. We must STOP the spending. Stop it NOW if not sooner. There are hard times, really hard times ahead, if we don't - and, really either way.

We cannot "borrow" ourselves out of debt. I simply cannot understand why more do not see this.
Keep on Rockin in the Free World folks. Watch, listen, learn. We head in uncharted territory! No matter your take....

L8R



Be Well All!
MLC
I can be humble.
I am sure it is the plan of the left/whatever non constitutionalists.
But this simple mind can only focus on so much at one time.
But this tortoise is in for the race.

We must make sure that at least a large majority of us Constitutional supporters are focused on the most relevant,eminent dangers the radical stateists are ramming through at breakneck speed.
God give me strength and focus!
Perhaps, we need to reunite as "one" with the folks from the foundation...and, start back at one!

Let's get back to the reasons we founded this country!
Yes start back as one.
One voice.
One true constitution!
One nation under GOD.
One multilevel singular focus!
Throwing out a lifeline.
Steps 1 to 3
If I ever think my work is done than I shall start back at one!
How apprapro!
Quoting spathy:
MLC
I can be humble.
I am sure it is the plan of the left/whatever non constitutionalists.
But this simple mind can only focus on so much at one time.
But this tortoise is in for the race.

We must make sure that at least a large majority of us Constitutional supporters are focused on the most relevant,eminent dangers the radical stateists are ramming through at breakneck speed.
God give me strength and focus!


Spathy, you're exactly right. Stay on track. Focus. I'm having to, more than ever. In a way, it seems I've found a new passion (maybe it was there all along), but I've no remorse in being more vocal about it - none at all.

I'm getting onwards towards where the future won't matter much to me; but, it does matter to my children and their children. We don't want to end up like China - 3 billion plus people with no voice in their plight! We don't want to end up like the ridiculous crap that goes on in some of these mideast countries where women are cloaked completely and all that.

I'm not totally critizing other countries - they do what they can; but, largely, it only benefits the few at the very top.

When we take away what has been mostly, solely our inititiative to move forward with opportunity to achieve - to conquer our own ignorance, to surpass our failures and embrace the possibilties - well, we will find ourselves part of the machinery that serves only the those in the ivory towers.
I believe. I believe something beautiful is going to happen! I mean that, I do; but, much trudgery may come before then.
Quoting GetReal:


LOL, that lyin' bastard! It ain't over! It's only getting revved up!

Even when we look at the best case scenario - sideways for a couple of decades! That's not good! Ask the Japanese!
I don't trust anything Bernanke has to say. Nothing at all. He is out of touch. He cannot prevent the inevitable. Can we lower rates further? Maybe, but it will only postpone the correction.

We've leveraged ourselves past recoverability. We no longer have the wealth-making mechanisms to right the ship.

The ball is in the other court....
...and my "give-a-dayum" is busted!

Ok, one for the ditch, as they say!

Oldie, but, ahhh, words do the talkin -- Out!

I hear ya, Oss. Have a good sleep! Hope the flight home or to come home was/is just fine!
When folks like Charlie Rangel can serve years and years, we know we have problems.

Where the hell is the Justice Department? Bought out, I'm sure!
I can promise you that I can count on one hand the number of times I've seen either "Dancing With The Stars" or "American Idol" - neither capture my attention.

But, you can write this down - I will watch even less of the "Tom Delays" in dayumed spandex (like that lyin, cheatin' bastard can really dance); nor, will I watch one single episode of the DeGenerate one! Pathetic!


We've been "blind-sided" but a few of us are waking up!
Let Pres Obama watch that crp!

Edit

Dancing whatever( )- camera hungry politician wants to be seen doing nothing to help this country survive radical social/redevelopment?

End edit

He seems to be more in touch with whatever con west is doing than Acorn or anything relevant going on under or in his nose!

And that is what he wants us to believe?
Divide , Distract , Conquer!

While claiming IGNORANCE! And Omnipotence!

Pinch me I must be in some sort of SNL skit!
OK end rant.
Keep up the good work!
Thanks!
Quoting spathy:
OK end rant.
Keep up the good work!
Thanks!


You the one, spathy! Thanks for your contributions and your integrity for this country!


...yeah, buddy!
OK, that's completely it for me! This is perposterous! These SOB's need voted out of office!


Insurers Criticize Administration 'Gag Order'

The federal government has ordered health insurers to stop telling Medicare beneficiaries that proposed health reform legislation could hurt seniors and jeopardize their benefits.

The government might take enforcement action against insurers that have tried to mobilize opposition to the legislation by sending their enrollees "misleading and confusing" messages, a senior official of the Department of Health and Human Services said in a memo Monday.

The mailings in question urge enrollees to contact their congressional representatives and protest the legislation, the memo said.

A spokesman for America's Health Insurance Plans, the industry's main lobbying group, issued a statement Tuesday criticizing what he described as the government's "gag order."
Dollar Trades at One-Year Low Versus Euro

Sept. 23 (Bloomberg) -- The dollar traded within a cent of a one-year low against the euro on speculation the global economic recovery is gathering strength, encouraging investors to buy higher-yielding assets.

The U.S. currency also weakened versus the pound and South Korean won as economists forecast the Federal Reserve will signal today it intends to keep holding down borrowing costs. New Zealand’s dollar was the biggest gainer versus the greenback among major currencies as the nation’s economy unexpectedly grew for the first time in six quarters.

“The dollar is likely to remain weak in the near term,” said Lee Hardman, a currency strategist at Bank of Tokyo- Mitsubishi UFJ Ltd. in London. “What’s driving the dollar lower is the exceptionally loose liquidity conditions, and this encourages its use as a funding currency.”



...FED likely to keep rates low.
Hope this isn't a duplicated post- I read back almost everything. Thanks MLC!

Reid Rejects GOP Call for ACORN Hearings
By Kathleen Hunter, CQ Staff

Majority Leader Harry Reid rebuffed a Republican request that he call Senate hearings and an investigation into recent allegations against the scandal-tainted community organizing group ACORN.

Reid, D-Nev., said Tuesday that he would not ask the Senate committee chairmen or Congress “to do anything that would distract from efforts to address” health care, climate change, an overhaul of the nation’s financial regulatory system and oversight of the wars in Iraq and Afghanistan.

Reid made the comments in letters to 28 Republican senators, who had asked for the investigation into the Association of Community Organizations for Reform Now.

The liberal-leaning group has faced heavy criticism following the release last week of a video showing ACORN employees apparently advising a couple, posing as a prostitute accompanied by her pimp, about how to conceal their line of work, evade taxes and handle undocumented, under-age sex workers.

Reid called the actions of ACORN employees and contractors captured on the video “shocking” and said he shared the concerns voiced by Republican senators.

But Reid noted that federal and state authorities are investigating ACORN and warned about politicizing such probes. “I am sure you would join me in praising the effectiveness, honest intentions and impartiality of our nation’s law enforcement communities and inspectors general,” he said.

The group of GOP senators, led by National Republican Senatorial Committee Chairman John Cornyn of Texas, lodged the request Sept. 17 amid a flurry of legislative activity related to ACORN.

On that day, Senate and House Democrats joined Republicans in voting in favor of separate GOP proposals to block federal funding for ACORN.

House Speaker Nancy Pelosi , D-Calif., called Thursday for a thorough investigation of the group and Republicans on the House Homeland Security Committee called on the Federal Emergency Management Agency to rescind a nearly $1 million fire safety and prevention grant awarded to ACORN this month.

Three local Democrats arrested by the FBI today down in in Broward County (Fort Lauderdale)

http://www.sun-sentinel.com/news/broward/miramar/sfl-broward-corruption-bn092309,0,7088546.story?pa ge=1
Hey, Bills! When did DOJ start an investigation? That's news to me. Remember, Rhambo wants this to go away as soon as possible - reasoning for all the "insignificant" down-playing.
Where do we go from here?

The MSM, if they have any decency left, has to report on this.


Democratic fundraiser indicted for alleged Ponzi scheme


This is how the story appears in print from the AP.

By LARRY NEUMEISTER, Associated Press Writer Larry Neumeister, Associated Press Writer – 2 hrs 56 mins ago

NEW YORK – Federal prosecutors have charged a wealthy fundraiser for Hillary Rodham Clinton and other top Democrats in an alleged $292 million Ponzi scheme that spanned more than a decade, saying he used some of the proceeds to support election campaigns.

In an indictment returned Monday in U.S. District Court in Manhattan, Hassan Nemazee is charged with bank fraud and aggravated identity theft.

"For more than 10 years, Hassan Nemazee projected the illusion of wealth, stealing more than $290 million so that he could lead a lavish lifestyle and play the part of heavyweight political fundraiser," U.S. Attorney Preet Bharara said in a statement. "Today's indictment exposes the sheer brazenness of Nemazee's schemes and marks the end of his decade of deception."

He used some of the proceeds of the fraud to make donations to the election campaigns of federal, state and local candidates as well as to political action committees and charities, prosecutors said. They didn't name the candidates or groups.

Nemazee's lawyer did not immediately return a call for comment Monday.

The indictment boosts the allegations against the 59-year-old Manhattan resident, who was arrested in August on charges that he used forged documents to obtain a $74 million loan. Prosecutors now allege that he fraudulently obtained loans worth hundreds of millions of dollars from three banks between 1998 and this year.

They said he used fake documents and signatures to show the banks that he had hundreds of millions of dollars worth of collateral.

Prosecutors said Nemazee also used some of the money to buy property in Italy and to make monthly maintenance payments on properties in Manhattan and Katonah, N.Y.

The government is seeking $292 million in forfeitures against Nemazee, including his interest in five properties, 16 corporate entities and a hedge fund, 14 securities accounts, 32 bank accounts, a 2008 Maserati Quattroporte automobile and a 2007 Cessna aircraft.

Nemazee served as national finance chairman for Clinton's 2008 presidential campaign and later raised money for President Barack Obama after her primary defeat. He also was Sen. John Kerry's finance chairman in New York for his 2004 bid for president.

Nemazee is under house arrest as part of a $25 million bail agreement. If convicted, he could face 30 years in prison on each of three counts of bank fraud and a mandatory two-year prison term on the aggravated identity theft charge.



DOES THE MEDIA THINK THAT WE'RE A BUNCH OF A-HOLES OR SOMETHING?!?! HOW MUCH BS MUST THEY GO THROUGH BEFORE COMING TO THE MEAT AND POTATOES OF THE ARTICLE???
1)BEATIN' 'ROUND THE BUSH ABOUT CLINTON AND 'OTHER TOP DEMOCRATS'
2)USED 'SOME' MONEY TO 'SUPPORT ELECTION CAMPAIGNS'.
3)For more than 10 years, Hassan Nemazee stOLE more than $290 million so that he could play the part of heavyweight political fundraiser.
4)He used some of the proceeds of the fraud to make donations to the election campaigns of federal, state and local candidates as well as to political action committees and charities, prosecutors said. They didn't name the candidates or groups.
5)The indictment boosts the allegations against the 59-year-old Manhattan resident, who was arrested in August on charges that he used forged documents to obtain a $74 million loan.
6)The government is seeking $292 million in forfeitures against Nemazee, including his interest in five properties, 16 corporate entities and a hedge fund, 14 securities accounts, 32 bank accounts, a 2008 Maserati Quattroporte automobile and a 2007 Cessna aircraft
7)Nemazee served as national finance chairman for Clinton's 2008 presidential campaign.........................

AND FINALLY(((((((((((((((((DRUMROLL PLEASE)))))))))))

.........and later raised money for President Barack Obama after her primary defeat


WAKE UP PEOPLE!!!!

OBAMA CHOOSE NOT TO ACCEPT PUBLIC FUNDING IN FAVOR OF PRIVATE FUNDRAISING WHY??
Ask yourself that question.

Then read this.

Obama Campaign Disabled Address Verification for Online Donors


Or this.

Obama Ignores Credit Card Donation Fraud



If any common sense exists behind the eyes and between the ears the conclusion should be a simple one. As for the kool-aid drinkers, I fear they have become permanently brain damaged from the stuff. Another vast...and I mean vast...'right-wing' conspiracy here...right guys?
386. Hey, RP. I was wondering when some more attention would be called to this embezzling baffoon. Thanks.

Yeah, buddy! No public funding? Now, we know part of the reason why!
387.

Yes, welfare and social security monies were used as "donations" to finance his campaign. Obama was taking from the kitty before he got elected and really started the current and future thievery.

Presidential party politics over national security and responsible fiscal common sense.


Vote congress out in 2010!


386 -- Perhaps the picture is becoming clearer on this older item.............

Q & A: Obama's public funding opt-out

Why is the decision controversial?

Obama has portrayed himself as a new kind of politician who would like to curb the influence of money and special interests over the political system. In March of last year, the Obama campaign stated that he would "aggressively pursue an agreement with the Republican nominee to preserve a publicly financed general election" if he won the Democratic primary election. But the campaign backed away from those statements as Obama's popularity increased and the campaign contributions started flowing in. The more his fundraising efforts paid off, the more the campaign talked about pursuing that goal only as an "option" he would explore.

The decision also has historic implications; Obama is about to become the first presidential candidate since the public finance system was established in 1971 not to participate in general election public funding.


We got what he paid for, LoL
Quoting Ossqss:
We got what he paid for, LoL


LOL, true I guess, except for the taxdollars funded through Acorn and the like to his campaign.
Quoting moonlightcowboy:


LOL, true I guess, except for the taxdollars funded through Acorn and the like to his campaign.


That was his money MLC, it was just a book keeping error right?



Obama’s ties to the group include training ACORN employees, providing legal representation to the group, receiving their endorsement for his presidential bid, and compensating a known subsidiary. One story being investigated by some reporters is the $800,000.00 donation to ACORN by the Obama campaign. Obama spokespersons have told reporters that the donation was a bookkeeping error.

Obama: The Acorn Doesn’t Fall Far from the Tree
I found this interesting.

I wonder how the CIA feels!

L8R = gotta go pay for my neighbors mortgage, and their bank's bailout, car and divert some money to save up for their health care -- tax time :(




Good Evening, Will He ever learn?


http://online.wsj.com/article/SB10001424052970204488304574426880110463194.html?mod=djemEditorialPag e#printMode

SEPTEMBER 23, 2009
Obama and the Politics of Concession

Iran and Russia put Obama to the test last week, and he blinked twice.

By MARK HELPRIN

During last year's campaign, Sen. Joe Biden famously remarked that, if his ticket won, it wouldn't be long before "the world tests Barack Obama like they did John Kennedy" on foreign affairs. Last week, President Obama, brilliantly wielding the powers of his office, managed to fail that test not just once but twice, buckling in the face of Russian pressure and taking a giant wooden nickel from Iran.

With both a collapsing economy and natural gas reserves sufficient to produce 270 years of electricity, the surplus of which it exports, Iran does not need nuclear electrical generation at a cost many times that of its gas-fired plants. It does, however, have every reason, according to its own lights, to seek nuclear weapons—to deter American intervention; to insure against a resurgent Iraq; to provide some offset to nearby nuclear powers Pakistan, Russia and Israel; to move toward hegemony in the Persian Gulf and address the embarrassment of a more militarily capable Saudi Arabia; to rid the Islamic world of Western domination; to neutralize Israel's nuclear capacity while simultaneously creating the opportunity to destroy it with one shot; and, pertinent to last week's events, by nuclear intimidation to turn Europe entirely against American interests in the Middle East.

Some security analysts may comfort themselves with the illusion that soon-to-be nuclear Iran is a rational actor, but no country gripped so intensely by a cult of martyrdom and death that to clear minefields it marched its own children across them can be deemed rational. Even the United States, twice employing nuclear weapons in World War II, seriously contemplated doing so again in Korea and then in Vietnam.

The West may be too pusillanimous to extirpate Iran's nuclear potential directly, but are we so far gone as to foreswear a passive defense? The president would have you think not, but how is that? We will cease developing the ability to intercept, within five years, the ICBMs that in five years Iran is likely to possess, in favor of a sea-based approach suitable only to Iranian missiles that cannot from Iranian soil threaten Rome, Paris, London or Berlin. Although it may be possible for the U.S. to modify Block II Standard Missiles with Advanced Technology Kill Vehicles that could disable Iranian missiles in their boost phase, this would require the Aegis destroyers carrying them to loiter in the confined and shallow waters of the Gulf, where antimissile operations would be subject to Iranian interference and attack.

Interceptors that would effectively cover Western Europe are too big for the vertical launch cells of the Aegis ships, or even their hulls. Thus, in light of the basing difficulties that frustrate a boost-phase kill, to protect Europe and the U.S. Mr. Obama proposes to deploy land-based missiles in Europe at some future date. If he is willing to do this, why not go ahead with the current plans? The answer is that, even if he says so, he will not deploy land-based missiles in Europe in place of the land-based missiles in Europe that he has cancelled because they are land-based in Europe.

What we have here is an inadvertent homage to Lewis Carroll: We are going to cancel a defense that takes five years to mount, because the threat will not materialize for five years. And we will not deploy land-based interceptors in Europe, because our new plan is to deploy land-based interceptors in Europe.

Added to what would be the instability and potentially grave injury following upon the appearance of Iranian nuclear ICBMs are two insults that may be more consequential than the issue from which they arise. Nothing short of force will turn Iran from the acquisition of nuclear weapons, its paramount aim during 25 years of secrecy and stalling. Last fall, President Mahmoud Ahmadinejad set three conditions for the U.S.: withdrawal from Iraq, a show of respect for Iran (read "apology"), and taking the nuclear question off the table.

We are now faithfully complying, and last week, after Iran foreclosed discussion of its nuclear program and Mojtaba Samareh Hashemi, Mr. Ahmadinejad's chief political adviser, predicted "the defeat and collapse" of Western democracy, the U.S. agreed to enter talks the premise of which, incredibly, is to eliminate American nuclear weapons. Even the zombified press awoke for long enough to harry State Department spokesman P.J. Crowley, who replied that, as Iran was willing to talk, "We are going to test that proposition, OK?"

Not OK. When Neville Chamberlain returned from Munich at least he thought he had obtained something in return for his appeasement. The new American diplomacy is nothing more than a sentimental flood of unilateral concessions—not least, after some minor Putinesque sabre rattling, to Russia. Canceling the missile deployment within NATO, which Dmitry Rogozin, the Russian ambassador to that body, characterizes as "the Americans . . . simply correcting their own mistake, and we are not duty bound to pay someone for putting their own mistakes right," is to grant Russia a veto over sovereign defensive measures—exactly the opposite of American resolve during the Euro Missile Crisis of 1983, the last and definitive battle of the Cold War.

Stalin tested Truman with the Berlin Blockade, and Truman held fast. Khrushchev tested Kennedy, and in the Cuban Missile Crisis Kennedy refused to blink. In 1983, Andropov took the measure of Reagan, and, defying millions in the street (who are now the Obama base), Reagan did not blink. Last week, the Iranian president and the Russian prime minister put Mr. Obama to the test, and he blinked not once but twice. The price of such infirmity has always proven immensely high, even if, as is the custom these days, the bill has yet to come.

Mr. Helprin, a senior fellow at the Claremont Institute, is the author of, among other works, "Winter's Tale" (Harcourt), "A Soldier of the Great War" (Harcourt) and, most recently, "Digital Barbarism" (HarperCollins).


We are going to cancel a defense that takes five years to mount, because the threat will not materialize for five years. And we will not deploy land-based interceptors in Europe, because our new plan is to deploy land-based interceptors in Europe.

Huh? No wonder the world is confused! You know, for someone to stay in front of the camera as much as this clown does - he really doesn't say that much. And, when you speak that often, a lie is inevitable, even with a teleprompter. And, it's really all repetitive anyways - SOS!

Nice article, Nadia. Thanks.


Bernanke Is Wrong! The Economy Is Getting Worse, Not Better, Schiff Says

The Fed upgraded its view of the economy Wednesday, declaring: "Economic activity has picked up following its severe downturn."

But forget all the talk about recovery, V-shaped or otherwise. The economy is actually worse today vs. during the depths of the recession, according to Peter Schiff, president of Euro Pacific Capital and author of Crash Proof 2.0.

"Ben Bernanke is keeping his record of perfection intact of never getting anything right. Once again he's gotten it wrong," Schiff says. "If the Fed really thought the economy was sound, why does he have it on life support? If he pulls the plug, our sick economy is going to die."

Although the Fed never said the economy is "sound", Schiff is referring to the FOMC's renewed pledge that "economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period."

Nothing that's occurred in the past six months has changed Schiff's view that America's economy is headed for disaster. In fact, he's even more convinced a true "currency crisis" awaits, and that China will soon stop enabling our reckless borrowing, the basis our "phony" economy. The coming collapse of the dollar and bursting of the Treasury bubble will have devastating consequences for ordinary Americans, and any investors based in dollars, he says.

The economy today is "worse [because] we are much more deeply indebted than in March," Schiff declares. "We've dug ourselves a deeper hole."
How Administration lets JFlorida run that blog, I do not know.
Bills, thanks, but I am simply not interested in those opinions or rhetoric. I will not engage or waste any more time than it took me to respond to your post regarding that mentality. They simply "don't get it!"
Here is an interesting article that finally mentions CRA, banks and Acorn. Was CRA the seed that helped grow the housing bubble?


Pinstripe Suits and Purple Pimp Hats


398. Thanks, Oss.

...and, the "truth" keeps coming out!
What, how come this did not make any headlines? If I am not mistaken, this is going to be a tax on everyone without exception............Interesting they blacked out the end of this sentence "It will raise energy prices and impose annual costs on the order of...." I wonder why :)

Treasury Dept. Admits Mega-Billion Global Warming Tax


Well some good news perhaps here.....

Treasury agrees to formal review of ACORN


It does keep coming out MLC :)
Link

Not on subject as usual but I found this back step in MMGW interesting.
Easy one:

"It will raise energy prices and impose annual costs on the order of...."

With the falling economy, recession, and hyper-inflation
the numbers are changing every second.
So any number we give will be wrong by the time you read this.
Spathy:
"He even went a step further, saying the currents were also responsible for
an unknown portion
of the warming in the late 20th century."

AN UNKNOWN PORTION

This is basic to the understanding they would have to have
to predict anything.

In other words, they really know nothing.

.
A quote from following link.

In view of the many problems associated with existing real-world temperature histories, the precautionary principle, so highly touted by climate alarmists, would seem to suggest that humanity proceed with extreme caution with respect to any proposed measures for dealing with the "problem" of anthropogenic CO2 emissions. Until we have a better-defined record of the planet's temperature history, we cannot be confident there even is a climatic problem. And if there isn't, cutting anthropogenic CO2 emissions will only deny us the many biological benefits of the aerial fertilization and water-conserving effects of atmospheric CO2 enrichment, which will be sorely needed to adequately feed the burgeoning population of the planet in the years and decades ahead.

Sherwood, Keith and Craig Idso

Link
405. JuneB
%u201CI took office at a time when many around the world had come to view America with skepticism and distrust. Part of this was due to misperceptions and misinformation about my country. Part of this was due to opposition to specific policies, and a belief that on certain critical issues, America has acted unilaterally, without regard for the interests of others.%u201D

%u201CFor those who question the character and cause of my nation, I ask you to look at the concrete actions we have taken in just nine months." ---TM 9/23/09

Yes We Can! Yes We Can! Isn't this just Obamalicious?

(And if you know anyone who does not agree with this.... call 1-800-Gag-Order.)
June Obama speaks garbldeygookese.
If there were misconceptions then why is he highlighting his supposed corrections over the last 9 months.
Which is it?
It wreaks of cover speak code.
CYA while condemning America.
408. Sh0cK
Quoting billsfaninsofla:
How Administration lets JFlorida run that blog, I do not know.


The funny part is they were talking about how stupid it was that the "right wingers" always ban them instead of talk to them.

I ended up banned because I merely brought up the fact that he falsely accused someone of insulting him and then proceeded to insult that person immediately after.

I guess they really don't want an honest discourse?
US May Face 'Armageddon' If China, Japan Don't Buy Debt


"The U.S. has to quit spending, cut back, start saving, and scale backward," Robertson said. "Until that happens, I don't think we're anywhere near out of the woods.”
410. JuneB
America is a new America, not like the old America that ran roughshod over everybody. Like Ghadaffi says, "He should become President for Life", otherwise, we will become EVIL again. I am so gratefull to our leader, I just might start singing.

(hey maybe someone can write him a song or make some statues of him or something?)
June I think there is a school teacher in NJ that could help write that song!
413. JuneB
Yes Spathy, and there is a statue of him on a donkey with palm branches at the feet in Minnesota. (Really, not kidding.) Maybe they will loan it out as we all sing.

Sorry, I have Obamafatigue. Don't know how much more I can take of this ridiculous stuff. Hard to even turn the TV on.
We miss you man!!!!