Bush Bails Out Obama as Obama Takes Credit for Bush Bank Bailout

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Leave it to politics to turn the tables as the only successful Obama economic program to date was not part of his recovery program at all but was the bank bailout by the Bush Administration. Obama is taking credit for the program that has already made a $4 billion profit for the US Treasury.




Of course only the banks Bush gave money have repaid. Once the Democrats took control with the election of Obama the bank bailout became the housing bailout (Fannie Mae and Freddie Mac), the insurance bailout (AIG), and the union/automaker bailout (GM and Chrysler). None of them have repaid the government billions yet.

Still it didn't keep Obama from taking credit for the bank repayments and the profit to the government. Not only does Obama never missed a chance to blame Bush for everything bad that has happened since Obama took office but now he won't give Bush credit for anything that might go right.




The Banks and the profit made include:
Goldman Sachs $1.4 billion
Morgan Stanley $1.3 billion
American Express $414 million

In addition five other banks including Northern Trust, Bank of New York Mellon, State Street, U.S. Bancorp and BB&T each paid between $100 million and $334 million in profits. These figures do not include 14 smaller banks who paid about $35 million in profits.




Of course another element of the bailout, the effort to stimulate home sales, has had little impact. The same is true of the program to buy the toxic loans currently held by the banks and capable of disrupting any economic recovery. But then you can't get what you were promised under this Administration so get used to it.

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Obama's Helter Skelter Agenda - Maybe Harvard Wasn't Ready for the Presidency

It has been since 1962 that a true Harvard grad has been president, a span of 47 years while it has been 49 years since one was elected president. Of course we are referring to John Kennedy and I think it is clear already that Barack Obama sure isn't any John Kennedy.

Oh yes, the fact checkers may say "wasn't George Bush, Jr. a Harvard Business School grad" and the answer is yes but based on what he did with the economy and what Obama has done since taking over it might be something that Harvard may not want to talk about. Besides, Bush was a Yale undergraduate while Obama was a Columbia undergraduate.

Now Obama seems to be a nice enough kid. Maybe he made a few mistakes because of his lack of experience, mistakes getting to the White House and mistakes now that he is there, but in spite of his claims that being a community organizer qualified him to run the economy, fix Wall Street and give us all health care, we now know that is just plain nonsense.

I don't remember anyone in the campaign telling us the Obama Administration would be an on-the-job training program for future liberal leaders rather than the president of all the people all the time. His gang has ignored Republicans and Independents and tried to use the Democratic majority in Congress to jam legislation down our throat.

The Obama handlers seemed to forget that just 53% of Americans voted for Obama while 47% opposed him. His was not an overwhelming public mandate but a referendum on the Bush Administration which seemed to be drifting aimlessly the last few years in office. Even Adlai E. Stevenson of Illinois, the last famous liberal presidential candidate from Illinois and three time loser could have beat Bush last year.




Unfortunately for the Republicans Bush was soooo unpopular Speaker Nancy Pelosi was able to get a Democratic majority in the House and Majority Leader Harry Reid got one in the Senate thus, in their minds, giving the president an ironclad veto proof majority in Congress.

So after promising us a break from old style politics and transparency and no lobbyists and prosecution of crooks and new ideas, etc., etc., etc. Obama was able to use the Pelosi-Reid majorities and slam a massive amount of legislation down our throats to fix all the things the Republicans screwed up the past 8 years. It was a great opportunity and a historic landslide of laws but they were written by the same old politicians and lobbyists who were already owned by the special interests from Wall Street to Union Leaders and the laws were filled with the same pork barrel projects we always expected before.

As for the Emergency stimulus bill which Obama touted as the savior of America at a cost of $787 billion to fund shovel-ready projects that could be implemented immediately, we are entering the 5th month since passage and so far the accelerated efforts of Obama have managed to get $44 billion spent, just 5% of the money. Most was probably for unemployment benefits which has nothing to do with stimulus.

In spite of the failure of the program, the economy continues to recover meaning why did we need the program in the first place? We didn't. But Obama did to fund all the none stimulus social agenda he wanted to advance the liberal cause in the nation. Our secret march toward socialism will leave an amazing legacy if left unchecked by Congress.



In less than six months since Obama took office the USA has borrowed more money than the entire amount borrowed during the previous 30 years. In terms of foreign countries of course China continues to hold the biggest mortgage on the future of America with $767.9 trillion in US debt and a total of $1.4 trillion in US debt and US currency. Since we forced Chrysler and GM into bankruptcy and Fannie May and Freddie Mack were bailed out with federal ownership I guess that means China and the other foreign debt holders will own America's largest auto and mortgage companies as well.

The top 7 foreign debt holders are China ($767.9 b), Japan (686.7 b), Caribbean Bank Centers ($213.6 b), Oil Exporters ($192.0 b), Russia ($138.4 b), UK $128.2 b), Brazil ($126.6 b), and Luxembourg ($106.1 b) with a total of $3.2 trillion in foreign debt ownership.

Now the Administration takes comfort in knowing the Federal Reserve here in the US owns the greatest amount of US debt, $4.8 trillion, but who owns and controls the Federal Reserve? Not the US government. Not the US president. Not the US Congress. No, the twelve regional Federal Reserve banks are owned by the private banks doing business with the Fed.



The Obama record shattering borrowing has pushed the US into a debt never before seen and he has just begun. Waiting in the wings are more bank and other bailout programs, energy efficient spending, more health care spending, and a crippled Social Security and Medicaid programs all in need of billions and billions of dollars.


The failure of the Obama economists to accurately project unemployment trends led to gross errors in the estimated costs or value of new programs like the stimulus and bank bailout, the bank stress tests, and the US budget revenue and deficit projections. Obama and the Democratic Congress decided the unemployment rate would stop at 8% because of all their spending yet the rate shot to 9.4% in spite of the spending or lack of spending. It will most likely rise throughout 2009 as projected in the Coltons Point Times and peak around 10% before the effects of economic recovery, not stimulus spending, begin bringing it back down.

So far Obama and the Democratic Congress have brought us record unemployment, record debt, record foreign deficits, record foreign ownership of US assets, record bailouts of banks, mortgage companies, insurance, auto and other industries, and record oil prices with no demand to support it.

Even the Obama worshipers like the media, liberals, unions, bureaucrats, teachers, disenfranchised citizens and Democrat puppets are beginning to get nervous about the failures of programs to protect them and their special interests. Wait until they begin to feel the effects of spiraling interest rates and skyrocketing inflation rates to pay for all the liberal agenda which will surely be the result.

Oh yes Obama is a likeable guy. His wife is likeable as well. But being likeable and from Harvard, Columbia and Princeton Ivy League schools as they are does not make one mature, street smart nor able to govern any better than a Ronald Reagan also from Illinois who attended tiny Eureka College with a student body today of just 750 students.

ABC News Continues Media Efforts to Distort Palin Message

ABC News Charles Gibson introduced the first comprehensive news interview of Vice Presidential candidate Sarah Palin to the world with clips of how he was able to cause her to stumble in questioning over the "Bush Doctrine."

Perhaps this was his effort to appease the criticism he received from the liberal left of being too soft in interviews with the McCain ticket and reacquire "macho" liberal approval but the result was a blatant attempt to trick Palin.

Gibson, out of the blue, asked Palin about the Bush Doctrine. She immediately asked him to be more specific. As she attempted to explain he asked the same question several more times, never bothering to explain what part of the Bush doctrine he intended to address. Finally after she gave increasingly more detail about the Bush doctrine he finally asked specifically for her position on preemptive strikes against terrorist targets.

ABC promptly sent out the edited questions and the liberal media jumped on the exchange as more evidence of her lack of knowledge of foreign affairs. Well shame on you Charles Gibson, until now ABC had not joined the stampede of news outlets leaning to the left but you have reestablished your news credentials as a master of media manipulation and should get a standing ovation at the next socialist convention in America.

The truth, in case anyone cares, is the Bush Doctrine is a four pillar approach to terrorism in the world, exactly as Palin described. Preemptive strikes are one of the four pillars thus her request to him to clarify his ambiguous question demonstrated far more understanding of the Doctrine than ABC News. His repeated response of refusing to clarify it was clearly intended to make her look bad.

According to the book, yes books have been published about the Bush Doctrine, World War IV: The Long Struggle Against Islamofascism, Norman Podhoretz identifies the four pillars of the Bush Doctrine: (1) rejection of moral relativism and commitment to fostering the spread of democracy in the Middle East, (2) treating terrorism proactively, on a global basis, and not as law enforcement issue, (3) willingness to engage in preemptive attacks against terrorists and terrorist supporting states, and (4) unwillingness to support a Palestinian state until Palestinian leaders "engage in a sustained fight against terrorists and dismantle their infrastructure."

Palin was right in asking for him to be specific. Her answer was right about the Bush Doctrine being the worldview on terrorism. And once again Gibson demonstrated how the mainstream media in America is hell bent on distorting the record, words and experience of Sarah Palin. Oh yeah, when he finally asked the real question she nailed it like she did on all the rest.

ABC has already issued misinformation on the exchange trying to limit the Bush Doctrine to the issue of preemptive strikes but the Bush Doctrine was detailed in the National Security Strategy of 2002 for all the world to see and its odd ABC missed such an important document.

Finally, when the same ABC (ABC News Rick Klein Reports) asked Obama about the Bush Doctrine back on July 26, 2007 during a conference call to reporters, according to ABC Obama "said Clinton would continue the "Bush doctrine" of only speaking to leaders of rogue nations if they first meet conditions laid out by the United States." Clearly Obama didn't know what the Bush Doctrine was so in terms of truth, Palin 1, ABC News 0.

Perhaps when Sarah Palin gets to Washington her first mess to clean up should be the media as they are more tied to the lobbyists and special interests than the politicians.

U.S. TREASURY SECRETARY PAULSON FUELS OIL PRICE CONSPIRACY

The Bush Administration continues to ignore the realities of world oil prices as spokesperson Treasury Secretary Henry Paulson said on June 1 that oil price increases are due to “supply and demand” issues. Just a couple of days earlier the Commodity Futures Trading Commission, a federal regulatory agency, announced a massive criminal investigation of price manipulation in the oil futures markets.

The CFTC indicated the investigation had been quietly launched six months earlier and the announcement sent shock waves through the financial sector. The Coltons Point Times has written 14 articles about the financial manipulation of the oil futures markets over the past 18 months so we are pleased a federal agency has actually started the process.

However, the CFTC may not have the ability nor the resources to undertake such a massive investigation as their targets would have to be the largest financial organizations in the world. We already disclosed that equity owners of the London oil futures market, ICE, which is a USA company but not subject to federal regulation, include two of the largest investment houses in the world, Goldman Sachs and Morgan Stanley, three of the largest oil companies in the world, Royal Dutch Shell, BP Amoco and Total Fina Elf, and two of Europe’s leading financial institutions, Deutsche Bank and Societe Generale.

The price manipulations under investigation could be the result of actions by these and all the other top financial houses and oil companies in the world and the CFTC says it has just five lead counsels to handle the cases. There are already over forty investigations launched. To give you an idea of the limits of the CFTC a spokesperson testified just ten days ago before a Senate Committee and listed reasons for the record oil price as “the weak U.S. dollar, demand from emerging economies, world unrest, bad weather and supply disruptions.” No mention was made of financial manipulations.

Now Secretary Paulson should have known about the CFTC investigation before he spoke, everyone else in the world knew. Paulson used to head Goldman Sachs, one of the certain targets of the investigation, and he knew Goldman Sachs was one of the owners of the oil futures market. Are the Bush people really that disconnected from reality or is there another reason for the refusal to acknowledge the potential for price manipulation from speculators?

Bush recently traveled to Saudi Arabia and asked OPEC to increase oil production to lower prices and they told him it was speculators driving up the price, the financial institutions, not the producers. Both the president and treasury secretary continue to get the wrong information and that raises a lot of questions about the quality of the staff in the Administration.

The CFTC was set up in 1974 to protect Americans from manipulations in the commodity markets. It was last updated in 2000 even though in 2006 a Senate Permanent Subcommittee on Investigations said there was substantial evidence of price manipulation in the commodity oil futures markets and a gaping loophole in U.S. Regulations that would lead to further speculation and manipulation.

That was the same year the Administration allowed ICE, the new oil futures market owner in London to trade American oil futures in London. Oil prices were $59-60 per barrel then and since the gaping loophole in our regulation prices have more than doubled, meaning the price impact of speculation could be $60 per barrel today.

So Goldman Sachs represents ICE in securities offerings and was an original equity owner of ICE. The current Treasury Secretary was former head of Goldman Sachs. The current head of NYMEX, the New York Mercantile (Futures) Exchange whose contracts can be bought through ICE in London, is James Newsome who also sits on the Dubai Exchange, the third and last oil futures exchange in the world. Interestingly Newsome is a former chairman of the CTFC.

The current CTFC Global Markets Advisory Committee includes Newsome and Jeffrey Sprecher, Chairman and CEO of ICE, along with representatives of J.P. Morgan, Goldman Sachs, Lehman Brothers, Citigroup, UBS and Barclays among others. The CTFC Energy Market Advisory Committee includes Newsome and Sprecher from the futures exchanges along with Goldman Sachs, Shell Oil, Morgan Stanley, Merrill Lynch, Lehman Brothers, J.P. Morgan, and others.

So the two key advisory committees to the CTFC contain many of the very firms that are under investigation by the CTFC and the largest investment houses, banks and oil companies of the world are the target. The five CTFC lawyers could spend decades searching for truth.

Why did Congress and the Administration refuse to act to close the huge CTFC regulatory loophole two years ago when it was identified? Why were no changes made in CTFC regulations to enable it to effectively stop oil price manipulations since Bush took office? Why does the Treasury Secretary ignore what may be massive oil price manipulations by the financial sector speculators? How can the CTFC investigate the largest and richest corporations in the world with five lawyers?

If Congress or the Administration have any sense they will assign all the investigative resources of the federal government to the CTFC investigation including the FBI, SEC, FTC and any intelligence service monitoring the world oil situation. If ever there was a need for a national security investigation this is it as our economy and the world economy are at risk. This could be the last chance for Bush to actually do something for the good of the people before his Administration becomes a target of the investigation.

And don’t forget these same financial and oil companies have already given $1.6 billion to the campaigns of our U.S. Senate, House and presidential candidates in this election year and another $1.6 billion will be given before November. Let’s hope $3 billion cannot buy the influence of Congress. They have also paid over $20 billion in fines for fraud and stock manipulations in recent years so such behavior may not be anything new.

THE HIJACKING OF AMERICA – THROW THEM OUT, THROW THEM ALL OUT!

Not since Al Capone stole Chicago has there been a theft of the grand portions we are now experiencing with the oil price crisis and this time there are no g-men or J Edgar Hoover to stop the insanity. Once upon a time the federal government could be counted on to protect the American public but that day has long since vanished in the corruption tolerant world we live in today.

It is said that mighty empires don’t collapse because of lost wars but suffocate on their own from the break down of morality and ethics as the seeds of evil grow and bring down the empire. Well America stands at the precipice of self-destruction because big business doesn’t care and big government turns a deaf ear to the cries for help from the people.

Once upon a time the Securities and Exchange Commission, the Federal Trade Commission, the Justice Department Anti-Trust group, the Treasury Department, the Internal Revenue Service and other government agencies would never tolerate the corruption and deceit running rampant today.

Today we give tax deductions to corporations guilty of multi-billion dollar crimes against humanity. We give tax breaks to oil companies that refuse to build refineries and develop new oil fields. We bail out banks and investment houses that violated the law and created the sub-prime mortgage scam. We make money available at cheaper interest rates to institutions that then refuse to lower mortgage rates. And worst of all we allow 535 Senators and Congressmen to employ 18,000 staff and receive $1.6 billion so far in campaign contributions from the very same companies bankrupting our economy and destroying lives.

The federal campaign finance laws are an invitation to corruption and the House and Senate refuse to change them. No wonder when they get $1.6 billion just for the primary elections. The media blindly ignores the truth about the extent of corruption because they get billions of dollars in advertising revenue from the same companies.

Investment houses, banks and pharmaceutical companies have paid well over twenty billion dollars in fines for illegal activities since 2000 and we reward them with tax deductions for the fines they pay. Then we watch as the Federal Reserve guarantees lines of credit to keep them in business and to bail each other out while reducing the cost of our tax dollars to them so they can continue with their market manipulations.

Many of the same companies that lost $400 billion on the sub-prime mortgages they created out of greed are now benefiting from the incredible oil price surge with record profits every month while the average American is watching their lives, standard of living and retirement funds disappear.

Congress calls hearings to question the oil executives on their salaries and bonuses while doing nothing to stop the oil price spiral. What in the world is the point unless the point is to distract the American public from the truth? Keep the eye of the public off the financial institutions that are pouring billions of dollars into the congressional and presidential campaigns while raiding the US treasury in every way humanly possible.

Through it all the people have patiently waited for their elected representatives to protect them and their federal agencies to stop the bad guys. Neither has happened nor are they likely to happen. Congress is still looking in the wrong places and the administration is still asking the oil producers to increase production and neither strategy has worked.

Why do we have to ask those that directly benefit from our defense spending in Iraq (over $500 billion) to help us with the oil supplies when they could care less? Perhaps all those Sheiks in training that came to our Ivy League Schools to learn the ways of the world learned a little more about price gouging and a little less about protecting their own market.

Of course the oil companies have not developed known reserves nor increased refinery capacity so they are contributing as well to the mess. The President blames Congress for not passing his energy bill during the last eight years. How long does a president have to wait to figure out his bill is no good? If the president wanted the bill so bad then during those eight years he might have acted like a leader and found a way to get it passed. I mean he does head the “executive” branch doesn’t he?

Then there are the car companies who have become so dependent on oil and the internal combustion engine and the massive after market repair revenue it generates they sat back and waited until the consumer was getting squeezed to death before addressing the need for an alternative fuel engine.

In the end there is us, the American consumer, who bought the cars, burned the oil, let the financial institutions invest our money, elected the president and the congress, and now are screaming about what went wrong. We could have elected responsible officials who warned us of the dire future but we didn’t. We could have thrown out the politicians who lied to us but we didn’t. We could demand our elected officials prosecute the financial institutions that own the futures market, manipulate the media to drive up the price of gas, and get the federal government to bail them out whenever their greed gets them in trouble. But we don’t.

We did reduce our driving and that is good. What we really need to do is clean house, both houses of congress that is along with the administration. What policies the president did implement over the part eight years required the approval of congress to budget so they are both guilty of complicity in the oil fiasco. Besides, when it comes to being bought off by campaign contributions from these powerful forces both were willing to do whatever it took for the money.

So we need look no further than the mirror for the real culprit in the oil debacle as we let all the players make the grand scam happen and if there is to be a solution it will be found when we wake up and use the ballot to fight back. Throw them all out of office and there is a chance the world might become a better place. After what the politicians have done to us how can we do anything less?

STOP THE OIL PRICE CRISIS – IMPEACH CONGRESS!

Okay folks, down here in little old Coltons Point, Maryland where we work very hard to keep the march of civilization from contaminating our village even we can see the most serious roadblock to getting a grip on the devastating oil price spiral is the very institution we elect to protect us, the United States Congress.

Our village newspaper, the Coltons Point Times has presented twelve articles over the past eighteen months identifying the culprits, the problems, and the myths of the oil price mess and offering ways a responsible president or congress could address these problems.



Now we expected nothing from the Bush administration in terms of attacking the problem because we knew the administration was clueless, ignorant, or conveniently looking the other way while planning their retirement homes in Dubai. One should never expect anything from the lamest of lame ducks.

But the Congress, under new Democratic leadership the past two years and with all those wonderful promises of dynamic action to fix the wrongs of the world, they could do something about it but won’t. Oh they hold periodic idiotic hearings to show the world they are on top of things and accomplish nothing with the utmost of noise.

What the congress and administration have allowed to happen with the sub-prime mortgage catastrophe and the oil price disaster will forever be known as the darkest hours in the history of our system of Democracy. The very people we have elected to protect us have sold their souls to the devil and their hearts to big money in the biggest takeover in US history, the takeover of the US government.

There are about 450 House and Senate incumbents up for re-election this year along with the three major presidential candidates. The securities, investment, real estate, and oil and gas industries alone have pumped over $1.6 billion into their campaigns and the election is not even half over in terms of potential contributions. Our administration and congress are as green as green can get but not in terms of environmental consciousness, they are awash in the green of billions of dollars being invested in their futures.

Unfortunately if our leaders looked at the facts they might question those green billions but they don’t. Instead they keep blocking campaign reform, allowing mortgage and securities bailouts and do nothing on oil prices while they keep banking the big bucks. Of course when you spend your time kissing babies and glad-handing constituents you may not have time to be responsible but the 535 Senate and House members have over 18,000 staff and you would think they could do something to help their bosses and our protectors.

So we pointed out in a series of articles that the largest investment houses in the world have lost almost $400 billion in the sub-prime mortgage fiasco that never should have happened if the administration and congress were doing their job. We also pointed out some of the same powerful investment houses were the silent owners of the oil futures exchange while the Arab nations who were bailing our the sub-prime losers also owned a lot of those oil reserves soon to be sold on the futures market.

That information was provided in November of 2006 when the oil price was $50.98 per barrel. Today, thanks to inertia by our government the crude oil price is now over $130.00 per barrel, an increase since our first article of nearly $80 per barrel.

In January of 2007 we listed the secret partners in the purchase of the oil futures exchange in London including Goldman Sachs, Morgan Stanley, Deutsche Bank (Germany), and Société Générale (France) all among the biggest financial giants in the world, three major oil firms BP Amoco, Royal Dutch Shell and TotalfinaElf, all three among the top eight most profitable corporations in the world in 2005, and six of the largest energy companies in America.

We warned that the same financial institutions were among those losing billions of dollars in the US sub-prime mortgage market and that they were in a position to offset their sub-prime losses by keeping oil prices at record levels. Every day the price stays up these firms benefit through their ownership of the futures market not to mention the billions of dollars they manage that can be leveraged to keep the futures market at record levels.

So-called oil industry analysts who worked for these firms and were darlings of the news media were identified by us as in potential conflicts of interest by not identifying they and their employers benefited from the runaway oil prices fueled by their expert analysis that projected $150-200 per barrel. Our headlines could not have been clearer.

“Slicker than an Oil Spill”, “The JP Morgan Chase Takeover of Bear Stearns - A Trillionaires Delight”, “Oil Price Conspiracy – Kings and Pawns”, “Oil Profiteering”, “Oil Bailing Out Sub-prime Mortgage Mess”, “Politicians and Oil – the Silence is Deafening”, “Oil Analysts Drive Oil Price Records”, and Demons and the Black Gold.”

So eighteen months, twelve articles, an $80 per barrel increase in oil and over $1.6 billion poured into your campaign coffers and still nothing has happened of substance in congress. You now leave us with no alternative but a Constitutional crisis because all of Congress, the House and Senate, are co-conspirators in the sub-prime and oil price shenanigans that have resulted in destabilizing the world economy and hurting very badly a lot of innocent people here and around the world. You should be ashamed and shamed for what you allowed to happen.

It might be too late to impeach the administration for their complicity in this series of tragic events because they will be long gone soon enough and it would be yet another waste of federal money but the truth is you, the congress, should be impeached and that is the cause of our constitutional crisis.

Impeachment proceedings require that the House of Representatives bring articles of impeachment and the impeachment trial be conducted by the Senate. There is no provision in the Constitution on what to do when the entire House and Senate is going to be impeached so the American Civil Liberties Union or maybe those lawyers who have also poured $72 million into your campaigns could figure out some way to bring a class action impeachment against our entire congress. It sure sounds like a lot in legal fees could result.

In the meantime you or your 18,000 staff members should take the time to read our twelve articles and see if it can inspire you to come up with a strategy that might work to bring down the oil price. You can find them at http://coltonspointtimes.blogspot.com/ where truth is free and we make no campaign contributions.

BARACK BUSHWHACKED BY BUSH LEAGUE BUSH MOVE

So we all heard about President Bush traveling to Israel for the 60th anniversary of the founding of the nation and then we heard about his speech to the Knesset, the Israeli parliament, where he took a cheap shot at presidential candidate Barack Obama. "Some seem to believe we should negotiate with terrorists and radicals, as if some ingenious argument will persuade them they have been wrong all along," Bush said.

The president went on to smugly mention terrorists, Nazis, Hitler and Iran implying he was talking about Obama although that implication was later denied by the White House Press Office in a most sarcastic manner. White House Press Secretary Dana Perino stated: “"I understand when you're running for office you sometimes think the world revolves around you. That is not always true. And it is not true in this case." That seems like a rather calculated and nasty response from the spokesperson for the president.

So Obama wanted to meet with those we don’t agree with in order to try and resolve our differences. Bush says that is bad. Of course Ronald Reagan, John Kennedy and many other presidents have entered into direct negotiations with the enemy to resolve conflicts and even people in the Bush Administration have met with Iran, Korea, Syria and others the Administration once called enemies so what in the world was Bush thinking?

Since it has always been an unwritten rule of American politics that we do not attack other politicians on foreign soil these statements seem little more than the typical bullying tactics that have helped drive the popularity of the Bush Administration into the ground making it the most unpopular presidency ever recorded. I wonder why?

McCain, who more and more sounds like a stalking horse for Bush in a failed race was quick to come to the defense of the president elevating the issue to a headline story but I am yet to understand how trashing an opponent is helping to explain the policy differences between candidates for president.

The White House must feel concerned that McCain needs help three months before he even becomes the official candidate for the Republicans, a good sign that the lame duck president has serious doubts about the new GOP candidate.

Bush has chosen to not stay above politics and has jumped into the action always eager for a fight whether there are any weapons of mass destruction or not. McCain has chosen to parrot the president so we can only hope his shoulders are strong enough to carry the sins of the president in the campaign.

The Democrats demonstrated that differences or not between their candidates, the most unifying force in America to bring the Democrats together in the fall is the president himself and the presidents’ own tendency to bully the opposition may just be the best advantage Obama needs to be the next president.

OIL ANALYSTS DRIVE OIL PRICE RECORDS HIGHER

Today, Tuesday, May 6 oil analysts again predicted more records for the oil prices and in response the market again set a new record reaching over $122 per barrel before settling at $121.84 a barrel. The analysts predicted prices could reach $150 and then $200 per barrel. Sure enough the market responded with a new record.

A team of analysts from Goldman Sachs made the prediction in the media and triggered the price increase and NBC News then had their own oil specialist, John Kilduf of Fimat USA confirm the numbers. So what do you think?

Well, Goldman Sachs is an investor and the lead broker for the IntercontinentalExchange, Inc., owner of the London Futures Exchange one of the two leading oil futures markets in the world. In the old days such action by Goldman might be construed as a conflict of interest and an effort to manipulate the price of oil.

Then there is the NBC news report. It seems their independent analyst works for Fimat whose name has been changed to NewEdge who just happens to be a wholly owned subsidiary of a wholly owned subsidiary of Societe Generale (SG), one of the largest banks in the world from Paris.

Surprise, Societe Generale was a founding partner of the IntercontinentalExchange (ICE) and benefits significantly every time the price of oil increases. So now both Goldman Sachs and NBC have offered experts whose companies directly benefit from the oil chaos and neither Goldman, NBC or Societe Generale disclosed the insider position they have in ICE and the oil prices.

Now where is Congress, the Justice Department, the Bush Administration, the presidential candidates, or even the news media in exposing this farce? How long do the American citizens and citizens of the world have to be victimized by such tactics before someone says “Stop” and investigates? Before you vote for any congressman or candidate for president ask them why they are not stopping these market manipulations.

If they continue to ignore them or you then vote them out of office. This is still the country of the people, by the people and for the people, we just have too many politicians who forgot.

GEORGE SHOULD HAVE BEEN DANCING

If President George Bush had been dancing with the people rather than with his advisors he might have had a chance to leave behind a positive legacy for his presidency but he didn't. The closer the president gets to his final days in office the worse his legacy grows as it appears more and more likely that he never should have been president in the first place. No doubt Bush is a good guy at heart. There were even some things he tried to do that were right. But he was too easily influenced by the relentless right to remember he was elected to serve all the people not just a few.

So here we are, in the twilight of his 8 years leading the most powerful nation on earth, and where do we stand? The leaders of the international terrorist group that brought us 9-11, the worst loss of human life in America since Pearl Harbor, remain free and continue to cause international chaos. Two wars have been fought costing us nearly a trillion dollars to stop them and both wars are nowhere near being won nor the terrorists caught. There is no stability in the Middle East, the same situation he inherited in 2001.

We are back to being suspicious of Russia, more suspicious of China and still waiting for Castro to die. Thanks to the commitment of Bush to carry out NAFTA which was passed under Clinton, millions of manufacturing jobs have moved from the USA to Mexico where poor wages, the lack of health care and high crime rate have caused the number of illegal immigrants to increase, not decrease.

World opinion of America has dropped to the lowest ever while the approval rating of the president is also the lowest ever recorded. With approval for Congress falling far below that of the president it seems government in general has fallen out of favor not only with foreign people but also with the people of America.

Our wars without end have driven up prices for consumer goods, led to a major economic retrenchment nationally, and pushed the entire world to the brink of economic catastrophe. The Bush administration failed to see the futility of war, failed to see the dark clouds in the economy, failed to see the price of oil, gold and food reach historic highs and failed to police the rampant corruption in the housing and financial industries.

On the home front he failed to address immigration reform, one of his top priorities. He instituted a wholesale attack on individual rights and freedom with his domestic efforts to stop terrorism. Every effort to aid big business from tax cuts to the war efforts have failed to accomplish anything except line the pockets of the rich and assure multi-million dollar bonuses for the corporate leaders who stole America blind.

In terms of protecting America he has worn out the heroic members of the military, abused the domestic National Guard by sending them across the world to fight wars, and destroyed families by continuing to extend the time the National Guard was stuck in Iraq and Afghanistan.

With this kind of a legacy Bush might want to see the End Times come fast so his administration cannot be judged to unkindly by historians. Then there is VP Cheney, yet another of the many advisors to Bush senior whose ideas were worn out and totally unsuited to the treacherous waters facing Bush the Younger.

Anyway Jimmy Carter can tell you all about nice guy former southern governor presidents and the price they pay for trying to help out. Don’t get me wrong, it is not as if everything about Bush was wrong. He must have done some good things. Certainly First Lady Laura was a bright light in the long night and his kids were entertaining. The fact Jenna refuses to get married in the White House might indicate just how she feels about life in the fishbowl.

So dance away George and just maybe a few things can go right in the next few months. You really have nothing to lose.

PIGS, PORK, PROMISES AND POLITICIANS – ELECTION 2008

Was it just 16 months ago that Nancy Pelosi, newly elected Speaker of the House and leader of the Democratic majority that took over the House and Senate declared that: "The election of 2006 was a call to change — not merely to change the control of Congress, but for a new direction for our country. Nowhere were the American people more clear about the need for a new direction than in Iraq. The American people rejected an open-ended obligation to a war without end.”

Pelosi, third in line to be president, the first woman to ever get that close, promised to spend the first 100 hours in control of Congress to begin to "drain the swamp" after more than a decade of Republican rule. A legislative package was included in the 100-hour promise along with the Iraq war promise and even a major cutback in pork barrel spending by congress.

As the deadlines came and went and congress still sputtered under new management about the only thing that changed was the approval rating for congress as it went into a freefall and plunged to the lowest levels in polling history, reaching around 13%, compared to the highly unfavorable president they were after whose rating also plunged to around 30%, still almost triple that of congress.

Her agenda for change was swept under the carpet along with all the campaign promises and the longer the Democratic contenders for president battle it out no one will notice how the new Democratic leadership failed to deliver on all their promises. And now Pelosi wants Bush to boycott the Olympic Opening ceremonies in China, yet another misguided effort that will only snub the USA Olympic team whose entire lives have been dedicated to representing us in China.

Concerning pork barrel spending, Nancy promised to reduce the spending by 50%. Every year since he became president Bush tried to eliminate the spending altogether but to no avail. So with a new House Speaker and a promise for reform things looked up and the first year the pork barrel did drop from $29 billion in 2006 to $13.2 billion in 2007 for 2,668 projects although the Bush vetoes had a lot to do with it.

Now we are in the second year of Pelosi rule and lo and behold, the pork barrel spigot seems to have been turned back on with expenditures rising to $18.3 billion for 12,881 pet projects. In just one year we went from a 60% reduction in spending to a 40% increase in spending, what a stunning turnaround. I guess Nancy forgot to mention she was only going to stop pork barrel for one year. And who is the national leader in pork barrel projects, why Hillary Clinton of course. Now just how are things changing for the better?

World News Recap

The Democrats have now been in control of congress for the first quarter of the year and how are they doing with their laundry list of immediate promises?

The stock market has collapsed, regrouped, and collapsed again.
The trade deficit set another record.
No news on immigration reform.
No news on campaign reform.
Oil prices are skyrocketing again for no reason.
Congress still refuses to investigate the interlocking ownership in oil.
Housing foreclosures are setting new records.
About half of congress is running for president.
The war in Iraq continues as if congress doesn’t even exist.

Hey, things remain pretty much the same and that’s all I have to say about that.