Showing posts with label bailouts. Show all posts
Showing posts with label bailouts. Show all posts

Tuesday, February 02, 2010

White House Aides Hit Airways as Obama Budget Hits America

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You always know when the president or congress are trying to pull a fast one on the public. There are two tactics that indicate a major deception is underway. One is if they release information Friday night, after the work week, after the news deadlines, after the people are out for the evening, and when the top reporters have the night off. A second is if they send a herd of babbling politicians and spokespeople out to blanket the news media to super-pitch a new idea, policy, strategy or something to the public.



My common sense rule is if they need to send out the pitchmen then something in the deal smells. If an idea can't stand on it's own merit, if it needs a constant explanation from politicians, if the public just can't get it, then something must be wrong with it. You've heard Obama and his White House gang lament over and over how health care is too complicated for the public, they didn't understand it enough, or they were misled by misinformation from the opposing side.



In Iowa vernacular, that is defined as hogwash. For those of you not growing up in Iowa the definition of hogwash is a noun 1. refuse given to hogs; swill, 2. any worthless stuff, 3. meaningless or insincere talk, writing, etc.; nonsense; bunk.

The Obama budget is a masterpiece in worthless junk and probably doesn't even make a good doorstop. Let me cut through the crap and give you a capsule overview. The Obama budget is the death knell of our nation as we know it.



The assumptions are from the same prognosticators who told us a year ago the unemployment rate would remain below 8%. The same voodoo high priests who told us the Obama stimulus bill would actually stimulate something. The same fortune tellers who said the bank, insurance, auto and Wall Street bailouts were in the public interest.



Near as I can tell the Obama budget may or may not say the nation will be bankrupt in about 10 years. It might say record setting deficit spending, all Bush's fault mind you, will set a record about every six months and the national debt will most likely have to be updated every day. Here is what it looks like updated in real time. Copy and paste the following link for a real scare.

http://www.usdebtclock.org/#

While entitlement programs like Social Security and Medicare make up much of the budget there will be no proposals to reduce the cost, eliminate fraud and reduce overhead unless we agree to spend another trillion dollars on health care. If they know we have $5 billion in legal fees for paying off attorneys and another $500 million a year in fraud why not get rid of the problems?



There will be no revenue streams for new money for the government yet we could become energy independent and make money for the government if we drilled for oil and natural gas reserves and encouraged new, more efficient ways to extract them from our land, not foreign countries.



While we have incentives for new energy systems in cars, which work but the car will cost about $60,000 -$100,000, there are no incentives for car companies to make the current internal combustion engine more efficient. We already know the current oil powered engine can be 80% more efficient, thus extending the life of available oil reserves by possibly over 100 years. That would make it long after the current deficit crisis is over and we would continue to have tax revenues from oil. If Obama gets us to convert to non-oil sources how will he make up the billions more in lost tax revenue? Under the Obama cap and trade program the private, Wall Street investors will make the money, not the government. Gored by Gore again.



Anyway, it is great to hear so many Administration non-economists and professional apologists hit the airways and be interviewed by a news media with less expertise, understanding or comprehension of the disastrous consequences of increasing deficits and national debt. White House aides Axelrod or Gibbs being interviewed by a news media White House correspondent is like asking Julia Child for help with football strategy. And anyone in their right mind even thinking of interviewing VP Joe Biden, the godfather of the credit card industry, on the fairness of Obamanomics is, well, insane. Just ask MSNBC.



Let's face it, Obama's Treasury Secretary did not even know Goldman Sachs and a bevy of tainted banks would get $60 billion from AIG when the White House bailed them out. If they can't even keep track of $60 billion how can they know about trillions? Or did they really know about the $60 billion? Come to think of it, when Congress held the hearings spanking the little butts of the big banks for stealing all that money from us, why didn't anyone ask if the president knew about the deal?

This budget cannot even be financed, the deficit side that is, when China and Russia are the largest purchasers of our debt and the Obama administration has infuriated both of them with our haphazard approach to foreign policy.

As I study this maze of governmental gobbledygook it reminds me of the annual National Enquirer report on fortune tellers and psychics telling us everything that will happen in the next year as far as the enlightened ones are concerned. Our White House and Congress seemed to be filled with soothsaying enlightened ones and I say it is time to turn out the lights!



Finally, if I were an advocate of conspiracy theories I would say Obama, the Rothschild's very own Chosen One, has finally figured out a way to make America subservient to the New World Order as bankrupting our nation would make us hostages to the international shadow world ending a 200 year quest by the Illuminati to get control of the US Treasury.

I guess this is really what we should expect when we get a new administration with all that experience. But then conspiracy theories are not real, are they?

Wednesday, January 20, 2010

Independents Win Massachusetts - Ominous Warning to Politicians

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When a Republican running as an Independent for John and Ted Kennedy's Senate seat can beat the Democrat endorsed by the Kennedy family and President Obama by over 100,000 votes, it is a landslide of historic proportions that should strike fear into the hearts of all politicians. So goes Scott Brown of Massachusetts in a stunning upset over Obama, health care, liberals and the old political guard.

Contrary to the views of the Democratic and Republican strategists, this was not a victory for the Republicans but a victory for all Americans. It was the clearest signal to date that our leaders in Washington, DC no longer can be trusted to lead, leaders of both political parties.



Our new president along with the Democratic controlled House and Senate and the Republican minority have blown it. People can see through the lies and smokescreens. They know exactly what goes on behind closed doors in our nation's capitol and they know the president, Pelosi, Reid and our elected representatives have sold out our government to special interests, and sold their souls to money.

A failure to recognize these signs will spell doom to all politicians who miss the point. America stands on the precipice of revolution, peaceful revolution, against politics, political parties, and a burgeoning bureaucracy whose secret agenda is self-preservation over the needs and wishes of the people. The people know it and the people, like a sleeping giant, have been aroused.

Unfortunately our politicians continue to drink the Potomac waters and believe they are superior to the people. Politicians believe they know what is best. They ignore warning signs and polls that prove we are a nation in discontent. In the past few weeks in Virginia, New Jersey and Massachusetts the unrest could not be clearer and the politicians could not be more stupid in missing the signs.

Independent voters are forming unexpected alliances with disgruntled Democrats and Republicans and state by state they are throwing out the establishment candidates in favor of candidates who have no strings attached. This juggernaut will not be stopped by clever legislative manipulations, by born again policy decisions of our political parties or by the bold faced lies and half-truths from our politicians. No, it is too late to expect to fool the public all the time.

While the politicians and political analysts who make their money keeping the politicians in office repeat their mantra that we know what is best for Americans, and that the work of congress is too complicated to explain to Americans, the public has figured it out. The public knows that politicians who criticize banks while accepting hundreds of millions of dollars from banks for their campaigns have lost their morality.

When millions of dollars flow into leading politicians from the health care and insurance industries as the politicians complain about the spiraling cost of health care, the public knows the magnitude of the bribes being paid by the immoral politicians. The Washington establishment is based on need, greed and deception and the masters at the game are no longer invisible to the people.



The principles of our great nation have been compromised by the greed of our politicians. Just look at the record of the Majority Leader of the House, Steny Hoyer, as he stands behind the president and castigates the banks, health care, pharmaceutical and insurance industries. He says one thing to the public, but behind the closed doors of Congress with the special interests and lobbyists inside look what happens to our protector from the bad boys of industry.

Top industry contributors to Hoyer's campaign committees are Lawyers, Lobbyists, Health Professionals, Electric Utilities, Real Estate, Insurance, Securities, Investments, Banks, Pharmaceuticals, Hospitals/Nursing Homes and Unions, a total of over $13 million for 2010 already. Now that covers most industries he calls the bad boys and to see just how extensive his support is from these industries take just the banks. He has received money from Goldman Sachs, JP Morgan Chase, Morgan Stanley, Bank of America, Citigroup and Credit Suisse among many others.



He attacks the banks but approves the bailouts. Then approves the insurance bailout while attacking healthcare costs, yet rakes in big bucks from the very industries he attacks. What do these industries know that the public does not know? Why are they pouring money into someone who attacks them? Does it have anything to do with the fact there is no prosecution of the crooks or changes in the regulation of the industries or does it mean they are being protected in other ways?

These are samples of the reason the people have had it with the old political guard in Washington. Elected officials are in bed with the enemy, have forgotten the meaning of truth and integrity, and continue to attempt to deceive the public. Hoyer is a protector of Wall Street and a protector of those who increase the cost of health care just like many other elected officials are and will remain. Money for campaigns, especially when it totals millions of dollars, come with a price tag and we have leaders too willing to pay the price.



That is why people do not trust politicians. That is why being a Washington insider may very well be the kiss of death to their careers. That is why America is controlled by special interests and lobbyists. That is why government aid goes to Wall Street, unions and special interests and not to the needs of the people. That is why the revolution of independents may well be the salvation of our nation.

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Friday, January 15, 2010

Will Boston be Obama's Waterloo? Did He Meddle Once too Often?

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You don't mess around in Boston, the heart and soul of tea party movements in America, the citadel of freedom and the home of America's first tea party that sent shock waves throughout the world. I think people underestimate the Bostonians, take them for granted. Obama's Chicago gang thinks the people of Boston and Massachusetts will do whatever Obama tells them because they are the most liberal state in America. But the people of Boston are populists first. They do not like being told what to do by outsiders.



As the Massachusetts Senate race comes down to the wire next week and the White House goes into full blown panic mode because of the surge in polls by the Republican, Scott Brown, and the collapse of the Democrat, Martha Coakley, will this be the race that convinces our young president to stop meddling in the state races once and for all?



He did not read the mood of the public in New Jersey and Virginia where Democratic candidates for governor in states Obama won handily and with Democratic governors took a beating from the Republican candidates in spite of being outspent by huge margins. Yet here we are, just a few weeks later and the bullies in the White House once again want to tell state voters who to elect. Such arrogance, even from Chicago politicians, is rather stupid.



As a supporter of the Kennedys and supporter of Kennedy candidates in the past I can tell you Martha Coakley is not Ted Kennedy. If she were really in touch with the people, as John and Bobby Kennedy were, she would have campaigned with the people. She said she would not waste her time meeting workers when she could just meet with their bosses. Both John and Bobby would be shocked by such an elitist attitude.



I remember shaking Bobby Kennedy's hand in Nebraska in 1968, along with a crowd of people, when he was surging into the lead in the presidential race and just a couple of days before his assassination. The Kennedy's were always the people's choice, not the bosses and they never forgot it.

If Coakley wanted to be like the Kennedys she would not have squandered her time as Attorney General. She could have sued the banks of Wall Street and the hedge fund and derivative manipulators in Boston who ripped off the American Treasury, stole the retirement dreams from millions of Americans, and destroyed the dream of home ownership for millions more. But instead she asks them for money for her campaign.

She could have demanded accountability from the pharmaceutical companies, health companies and insurance companies for their role in health care price increases but instead gets their money from Democratic party officials. Her special interest campaign contributors read like a Wall Street who's who and we all know by now that when they give money they expect money in return. Just ask our young president with his bailouts, buyouts, loans and stimulus. Who did that money benefit?



And if Teddy Kennedy were still alive you can bet he would be outraged at the shape the Obama health care reform debacle has taken. There are more bribes, more backroom deals than constructive initiatives in this bill. I cannot believe Kennedy would stand for the Obama, Pelosi, Reid pyramid scheme intended to fill everyone's pockets with cash except the public who will be paying for it for generations.



Teddy Kennedy had integrity. He was patient for a generation waiting to get meaningful reform. He would not have endorsed this sham just to get anything approved so the president and congress would look like they did something this past year. The Obama health care bill is not reform but a bureaucratic boondoggle the likes of which we have never seen and no one understands. Coakley wants it, Brown does not. Maybe that has a lot to do with her falling star and his rising popularity.

If Obama fails again to impose his will on the people of yet another sovereign state in America maybe, just maybe, he will finally stop meddling in state affairs and get on with governing all the people. If not he will fill out his term maintaining his do nothing administration while achieving record deficits and national debt. Not a legacy one should seek.

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Wednesday, December 16, 2009

Merry Christmas 2009 from the Grinch that Stole America - The Obama Gang

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There are five gifts President Obama promised his special interests under their Christmas trees when their money got him elected president. Thanks to nearly $1 billion they investment in him, he did become president riding a wave of disapproval of his predecessor George Bush. But one person's gift may be another's yoke and any tax paying citizen of the USA faces a future full of yuletide yokes courtesy of the new administration.

The gifts promised:

Wall Street Bailouts
Card Check
Cap and Trade
Health Care Reform
Global Warming Funding




Wall Street Bailouts

The first legitimized the greatest robbery in history, the pillaging of the American treasury. Between the actions of the Treasury Department through the bank, insurance and auto bailouts and the action of the Federal Reserve in waiving all procedures and saving Goldman Sachs and Morgan Stanley by changing their banking status, this is a gift that just keeps on giving, at least to the Goldman executive bonus pool.

On September 21, 2008 the Federal Reserve stunned the financial world by announcing that Goldman Sachs and Morgan Stanley, the last two independent banks in America, will become bank holding companies. The Wall Street titans would be allowed to transition into holding companies following a mandatory five-day waiting period, and would be able to take advantage of credit from the Federal Reserve Bank of New York in order to complete the transition.

The Fed's move was described at the time as the latest milestone in a jaw-dropping couple of weeks for Wall Street and American business. Goldman and Morgan were the last two independent investment banks, following the filing for bankruptcy of Lehman Brothers, the acquiring of Bear Stearns by JP Morgan this spring, and the sale of Merrill Lynch to the Bank of America.



Goldman now had access to incredibly cheap money. Exploiting its new status, Goldman became the first financial institution to sell $5 billion in government-backed bonds through the Federal Deposit Insurance Corporation, which allowed Goldman to start doing deals when the markets were at a near standstill. The president of the New York Federal Reserve at the time was Timothy Geithner, now Obama's Secretary of Treasury.

All activity by Bush Treasury Secretary and former Goldman executive Henry Paulson was approved by candidate Obama before he was elected, and legitimized by him after being elected. The cost to the taxpayer, untold trillions in short term debt and a nearly $2 trillion increase in the national debt.



Card Check

Legislation long sought by unions to force open voting for union membership which many view as a means to expose voter intentions and open the floodgates to union pressure on non-union employees was endorsed by Obama. It was blocked in the Senate but union advocates believe they can get it approved with a few modifications that will still give unions control of the workers and elections for union representatives. In Congress nothing is ever really dead. If approved labor costs for much of the manufacturing, retail, health care and other industries will significantly increase as union control spreads under Obama and the multiple executive orders he has already signed expanding union influence.

Cap and Trade

Designed by Goldman Sachs and Al Gore and associates like Gore's financial partner, also from Goldman Sachs, the Cap and Trade bill, touted as a tool for carbon management, is nothing more than an investment ruse to allow barrels of money to be made on trading emissions instead of oil futures which are also controlled by Goldman and others. It has already made Gore $100 million developing the concept and he stands to make hundreds of more millions if approved. It will directly lead to a significantly higher cost for oil products.



Health Care Reform

The Democratic bill endorsed by Obama will open the door to the most powerful union backer of Obama, the SEIU, to organize the health care industry. This will increase the cost of health care no matter what else the bill does. Other provisions of the bill will help maintain high costs for drugs because of deals between the White House and major pharmaceutical corporations, will increase taxes on businesses and taxpayers for expanding coverage to all uninsured, could cost over $2 billion after the first ten years, and does nothing to limit excessive legal fees being generated under the present malpractice rules. All costs will be passed on to the taxpayer in the end.



Global Warming Funding

Back when Obama and Congress thought the people would give them carte blank power to sign away federal money there were thoughts of a massive increase in carbon reduction at the World Global Warming conference currently underway in Copenhagen. Now after the Chicago Olympic bid disaster in Copenhagen Obama should know better than to expect good things over there but some people never learn.

Thanks to a hard line by China the newest goals may not become mandatory but the hope of the social activists at the conference is still to get the industrial countries to finance all third world efforts to control global warming to the tune of ten billion or more dollars a year. Now most third world countries are so caught up in corruption you could give them 100 billion and it might disappear but the Obama gang was expected to be the leading financier of the third world efforts. That means the taxpayers, deficit spending and increased national debt and it does not even impact directly on America.



There you have it, your Christmas present from our new president and Nancy Pelosi and Congress. Four major reforms all leading to increased costs, increased taxes and reduced availability of services in they are implemented. Congress has one last chance to stop the nonsense. However, Congress may also believe it has one last chance to pass the nonsense so citizens beware, these expansions of government may be hidden in other actions by our pork barrel addicted legislators in Washington.

We can give them a present, give them a permanent vacation from doing harm to our country by voting them out of office, but vigilance is needed until then to make sure the actions are not buried in other mundane actions by Congress, a trick they have used often.

Merry Christmas and Happy New Year...