Obama's 3rd 100 Days - Now What?

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Will the next 100 days finally reveal the real Obama so America can get on with evaluating the new occupant in the White House? Don't count on it as what we have seen so far has been such a contrast in styles, a reversal in policies and a world class spending spree that the Harvard fraternity-like mood in our nation's capitol is unlikely to change.





Is there anything we have learned so far? More of the usual when it comes to politics. While Obama may have a far left leaning agenda his actions are no different than the Republicans. All the crooks on Wall Street remain on Wall Street and not in jail, except for the token self-admitted crook Madoff.

Obama's pledge to stop politics as usual stopped nothing and in fact resulted in record shattering spending, deficits and false hopes that will be paid for generations to come. Pork barrel is alive and well. Foreign enemies he was going to engage with his Ivy League charm get bolder by the day and now we have to resort to coddling them and allowing them to get away with stealing elections and kidnapping Americans as a pre-condition to talking to them.





Not only has the Obama administration ignored the Republicans and Independents in Washington even though he was elected to be the president of "all the people," but he has moved partisan politics to new levels of blatant discrimination by threatening to get even with those who do not support his freight train to socialism.

His $2 trillion first year deficit put more money in the pockets of his friends and campaign contributors than the special interest groups he so casually took for granted as a Democrat. The auto unions lost tens of thousands of jobs under his policies. Educators still work in lousy schools and student achievement standards continue to flounder.

His assault on Catholics and Christians seem as if he single-handedly intends to wipe God out of the foundation of America and leave issues of morality a shambles as he promises one thing to the faithful and Pope while doing just the opposite in his actions.

All those local government unions that supported him have suffered furloughs, layoffs and reductions in force while those rich bankers that backed him have received billion dollar bailouts, billion dollar bonuses and get out of jail cards for life I guess.





To demonstrate his fiscal restraint he allowed billions and billions of dollars in outrageous private sector bonuses while bailing out the companies, instead of prosecuting those getting the bonuses for destroying the national and world economies by manipulating the housing, oil and alternative energy stock and commodity markets. Speculation that leads to the destruction of national economies hardly seems like grounds for a $100 million bonus for one person.

His answer to a health care system that is out of control is to create another layer of greed with a public socialized system to compete with the greed mongers already there. The health care crisis is a matter of cost pure and simple.

the cost of health facilities
the cost of treatment versus cure
the cost of doctors intent on making millions rather than helping people
the cost of insurance companies with no incentive to reduce costs when all they have to do it raise premiums
the cost of pharmaceutical companies trying to squeeze every last cent out of our health insurance and government aid programs before they lose their patent rights
the cost of frivolous lawsuits by lawyers that continue to force up the price of malpractice insurance paid by the policy holders, not the insurance companies, lawyers or doctors
even the cost of regulators to keep track of the cost of health care.





Mr. Obama, you Harvard people make things too difficult. If you really want to fix a system out of control from greed, then get rid of the greed and stop pampering the greedy. The problem with health care is no different than Wall Street. You leave the door open and greed will dominate because your administration has shown nothing to indicate you can or will stop it any more than any previous Democratic or Republican president.

You coddle the rich while slamming those whose support you took for granted. Is that a legacy you want to leave behind? You refuse to reform political campaigns because in truth you bent the rules to spend the most in history to get elected. Nothing has happened to reform campaigns, clean up Wall Street, get corruption out of politics or help people. Your legislative agenda has been a boondoggle for the rich, protecting the haves while continuing to penalize the have nots.

If you are Christian like you claim though your actions certainly are no example, then find a church and go to it and stop trying to drive God out of the constitution and foundation of our nation. We came here to found a nation under God, not against God and not one that ignores the role Divine Providence plays in our lives.





Americans are not stupid. The collapse of your poll numbers should tell you that. We know you are using the office we elected you to for your own self-serving purposes. We know those closest to you are being helped while many more are paying the price. Maybe you will help all the people in the end but America will survive whether you are honest with us or not, whether you are honest with yourself, whether you become the king of socialism, or whether you dedicate yourself to helping all the people all the time rather than the chosen few that are your faithful and blind followers.

We don't care if you join Bill Clinton and Al Gore and go make a few hundred million dollars after you are president, just don't make it while you are president at our expense. Try vacationing where normal people go, not just $40,000 a week vacation homes for the elite and rich. Tell Michelle $400 sneakers are not a good example to set in the White House when greed and materialism got us here in the first place.





You made history getting elected, not for what you might do once you were elected. So far your record in office and your shot gun approach to governing has diminished your reputation. Perhaps it is time you take a courageous step and declare that in spite of your ability to raise hundreds of millions of dollars for political campaigns you will not run for re-election in 2012, and you might very well regain some of the credibility you have lost. For the first time you will prove you are not intoxicated by power and money but by what is best for all Americans.

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Mr. President - What have you accomplished?

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Has anyone noticed that time seems to be speeding up while nothing seems to be changing in this world? We have a new president but all the same problems are still here. The economy is built on a foundation of quicksand. Troops remain in Iraq. More troops have been sent to Afghanistan. North Korea and Iran both have spit in the face of our new president and his policy of engagement in dialogue with our enemies.





Nancy Pelosi continues to lead the Democratic party down the black hole of intellectual constipation and permanent inertia with her broken promises, her running from responsibility and blaming everyone else for the lack of action and leadership. Pelosi continues to slam defective bills through Congress which will have no chance of getting into law.

Thanks to the Democrats control of the universe we have the highest budget deficit in history, the highest national debt in history, two wars still underway and two more hot spots moving closer to conflict in North Korea and Iran.





Fat cats on Wall Street that backed Obama have gotten richer while those that caused the economic chaos have not been prosecuted. Green politicians like Al Gore have made a hundred million dollars off the environment and stand to make billions more while the Administration continues to fund them and ignore the oil and gas assets we do control.

Social programs have grown adding millions more to the future deficits while Social Security, Medicare and Medicaid while we do rely on and have paid for are on a fast track to destruction. Oh yes, and what happened to your 401K that was supposed to be protected by the government?





If I had all these things going wrong I think I would rent a resort home for $40,000 like Obama and go on vacation as well. Too bad he can't find a church to go to as easy as spending tens of thousands of dollars visiting resorts, going to Broadway shows, hosting million dollar Hawaiian parties for cronies, and whatever else he does for diversion. Maybe keeping him out of Washington along with the Congress is what America needs most to heal.

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.

Make Way for the New GMC, the Government Motor Company

Any moment now GM is going to file for bankruptcy following in the footsteps of Chrysler and America is going to go from three major auto companies to one, Ford. Maybe it is only fair that the first car company in America is the last one standing but what does that say about America?

GM Headquarters in Detroit

Well, call it what you want we have temporarily nationalized the car companies because all of their money is coming from our government and the Obama boys are calling all the shots from who will manage the companies, what debtors will get the most money back, what cars will be made in the future and about everything else about the business of management.

It is already clear that the unions will be the big winners of the debtor pool as they have received better terms than any other bond and debt holder. The unions could own 24% of General Motors and the government could own 51% and since the unions helped get Obama elected it looks like the unions will be running the GM of the future.

I've got nothing against unions being management but it somehow seems like a conflict of interest for the workers and management to be the same people, especially since it was the legacy costs of union pension and health insurance for retired auto workers that got the companies in trouble in the first place.

Chrysler will be run by Fiat so there is no American Pie left in that company. GM must shed all of its foreign holdings which were the only part of GM that made a profit recently. Rumor has it Obama will give GM $30 billion more to get through bankruptcy.

Forcing GM to change to energy and environmental cars of the future is great for the future but pretty radical in America where it often seems cars were guaranteed in our Constitution just like guns. Here we like powerful and efficient cars but I cannot imagine the little, very little cars designed for European cities where traffic is always jammed, selling in America. Give me a Thunderbird or Corvette before you try and stick me in one of those mini-death traps.

And speaking of the alternative energy cars being required by the Obama gang, and especially the electric cars, if they do not improve the batteries the cars will never really sell. Right now if the battery breaks down, and none have been tested over a period of many years, the battery replacement cost could easily exceed $10,000. Some car efficiency. Why don't we just make more efficient internal combustion cars until we have mastered the new batteries required for massive market penetration by the alternative vehicles?

In spite of the ranting and raving of global warming advocates, it is power plants, not cars, that are contributing the most to the problem. You might want to add our nation's capitol as the second biggest cause because of all the hot air expended in DC. So cars are not the main problem. So we have right now sufficient oil and natural gas reserves to supply our current needs for about 300 years. New technologies and new techniques to improve auto efficiency have constantly improved auto performance, even the autos running on gas.

Oil prices have reached new highs in a stable market as oil reached about $66.00 a barrel this week when demand has collapsed and inventories are at all time highs. All the nonsense and predictions from our government about how bad things have gotten seem to be falling on deaf ears. And did you hear Al Gore or any other global warming advocate answer why we are in a period of advanced global warming yet the average temperature of the Earth has fallen the last couple of years?

I suspect if you checked to see who owns stock in the new energy efficient companies and solar efforts you might find a lot of names of environmentalists, thus putting them in yet another conflict of interest which seems all too common in Washington.

Now before any tree huggers blast away at me I will put my environmental record up against any of them as back when many of them were in diapers I was involved in environmental initiatives from waste recovery to mandatory recycling, active and passive solar systems to hydrogen cars, restricted land use management to wetlands and forest recovery, and I was even involved in the creation of the Federal Energy Administration and US Department of Energy.

Oil and natural gas are critical to our transition to a more energy efficient future. The Obama gang chose to slam the door on what works and bet the future on what hasn't work yet. I say increase oil and gas reserves while we create the new alternative energy economy, a manufacturing base that does not even exist yet. Don't bet our future on speculation.

Deflation - An Economist's Illusion or the Real Deal?

Okay, so the Obama administration says we are in a period of deflation as opposed to the typical inflation we normally see. Deflation, a rather pathetic word that reminds me of a flat tire. But deflation should be great because it means prices are going down, not up. But there is one problem, some major price categories seem to be going up to me.

To understand what people are talking about let us take a look at the Ask.com definition of the term "deflation" and what it really means.

Question: What Is Deflation?

Answer: The definition of deflation is when asset and consumer prices continue to fall. This may seem like a great thing to consumers, except that the cause for deflation is a long-term drop in demand.

Unfortunately, a drop in demand means that a recession is already underway, with job losses, declining wages, and an ongoing decline in the value of your home and your stock portfolio. Deflation is a result of businesses dropping prices in a desperate attempt to get people to buy their products.

Officially, deflation is measured by a decrease in the Consumer Price Index. However, the CPI does not measure stock prices, which retirees use to fund purchases, and businesses use to fund growth. It also does not measure housing prices, instead using rental equivalent. This often lags home price declines, and underestimates deflation in the CPI.

To combat deflation, the Federal Reserve executes an expansionary monetary policy. It reduces interest rates, and increases the money supply in an attempt to jump-start economic growth. In addition, the government can offset deflation with expansionary fiscal policy. It can put more money into circulation by lowering taxes, increasing government spending, and incurring a temporary deficit to do so. Of course, if the deficit is already at record levels, that tool may no longer be available.

Like inflation, deflation is very difficult to combat once it is entrenched. As businesses and people feel less wealthy, they spend less, reducing demand further. Prices drop in response, giving businesses less profit.

I don't know about you but it seems to me gas has started rising again. In fact the price per barrel of crude oil, which impacts on many supplemental products from transportation to fertilizer, has increased 90% since the beginning of this year alone and now stands at about $62.00 a barrel. No wonder OPEC did not reduce the amount of oil produced this week when the price now is above the 2007 prices in place before the outrageous price spiral.

Taxes are certainly up, especially state and local taxes, and you can bet the aftermath of the incredible federal spending will be substantial future price increases. Obama has already set a new record for the annual federal deficit and the stimulus and bailout programs are just starting to spend money with multi-billion dollar bailouts waiting in the wings for a bankrupt Chrysler and General Motors and a teetering AIG insurance giant.

A lot of food prices are up or they have cleverly repackaged items so we are paying the same for less goods, thus really increasing the price. Organic foods are not dropping either even though there has been a push to be healthy and sales are up.

Certainly restaurant prices do not seem to be falling. In fact with the addition of designer coffee in McDonald's some prices are actually going up as well. When there are "specials" it usually means you get a silver dollar sized hamburger instead of the meat eaters delight we've grown to love.

Medical and health insurance rates continue to spiral in spite of the Obama efforts to overhaul the health care industry. After a decade of double digit annual price increases this year prices are expected to drop down to just a 7% increase. Only in our nation's capitol could a 7% increase be treated as a drop in prices.

As the definition said, two of the most important cost factors missing from the deflation figure are stock prices and housing prices. No one will question that these two have dropped with stocks, and your retirement funds, still about 40% less in value than a year ago.

Housing prices have also gone down, a lot in some areas. But the national market tends to be local market driven so one area may have no loss in value over the recent years (2006 - 2009) while a neighboring area could have substantial loss of value.

Take, for example, the case of Coltons Point. The Washington, DC metro area including Northern Virginia and Maryland has suffered an overall loss of value of about 24% the past year. However, a Washington Post survey of all home sales in the metro area the past year shows there are a few locations where prices have actually increased. One of these unique areas is the riverside resort of Coltons Point where values have increased by over 3% the past year.

Still nationwide stock and housing prices have dropped but neither is even factored into the deflation model which makes me wonder just what value is the economic news on deflation? It is distorted since it missed two of the biggest cost factors. The Consumer Price Index which is the basis for determining inflation or deflation is often a lagging indicator of economic performance much like unemployment figures. Conversely the stock market is a forward indicator of economic growth having already factored in jobs reports before they are even released.

The Labor Department figures on new unemployment claims this week dropped well below analysts expectations for the 2nd time in three weeks yet the unemployment rate climbed to 8.9% and the lagging figure could reach 10% later this year even if the economy is in a full recovery cycle as the Coltons Point Times and more recently other financial news services are beginning to predict.

In light of all this conflicting information and simultaneous upward and downward economic pressure my advice is for you to ignore deflation and inflation reports and the endless speculation about them as it is something the Federal Reserve must manage and we the people have no role in what the Federal Reserve does with our money anyway.

Obamamania Thrills Liberals and Socialists Throughout the World

So Europe has an Obama, the Muslims have an Obama, Russia and China have their Obama, Michelle might even have her own Obama, Turkey has one and even we have one, or two, or three. Don't get me wrong, I do not want the president to fail. However, there are a lot of things he is doing that give me the creeps.

He promised change then loaded his staff with former Clinton people, not exactly my idea of fresh new faces. Seven nominees by Obama owed back taxes. What is that all about? He has the greatest collection of liberal socialists next to the French parliament or the old Soviet Politburo.

What happened to the new era of ethics in government? What happened to his ban on lobbyists working for him? His appointees quickly violated both of those promises. I don't remember him saying he would generate more national debt in four years or less than Bush did in eight years.

He promised to eliminate or slash the budgets of all those departments and agencies that don't do their job but the only budget cut has been our national defense. He promised to build a wall to stop illegal aliens then went and promised to let the 12 million illegal aliens stay here behind the wall and become citizens. I thought the wall was to keep them out.

Now we discover he sent the Congressional Black Caucus to negotiate with Fidel Castro to open our borders to Cuba. Okay, if the average Cuban makes $9 a month under the Communist country aren't they going to become illegal aliens trying to get into America as well? And besides, the Black Caucus was never approved by the Senate to negotiate treaties.

He spent trillions more than he promised in just his first year and even spent a trillion on stimulus when less than a third of it can actually stimulate. Big cars are gone. Bank accounts are empty. There will be no drilling for oil though millions of gallons are there to drill.

He doesn't bow to the Queen of England but does bow to the King of Saudi Arabia. Countries at the G 20 and NATO meetings greeted him cordially then refused to do anything he asked. He can't even make up his mind about the dog for his kids.

He promised no pork bills from Congress would be allowed yet thousands of pork projects costing billions of dollars have already been signed in to law by him. What happened to reforming our corrupt campaign laws? Where is the new level of ethics? What has been done to stop special interest groups from buying the influence of Congress?

We know stem cell research has been expanded. The floodgate to more abortions have been raised as if 50 million abortions already performed in America were not enough. We know we won't be in Iraq long even if the country falls apart when we leave. And that bad prison in Cuba will be closed although no one knows where the hundreds of terrorists will be set free.

All in all our new president is off to quite a start. Now he did get something right, he picked North Carolina to win March Madness. Stay tuned.

Big Money Now Owns America

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I think this is a pretty good description of the treacherous ground we are venturing down with the financial meltdown and the government response of tossing billions into the mess.

"Owners of capital will stimulate the working class to buy more and more expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be saved by the government and nationalized; ..."

Big Money gets greedy. Big Money finds new ways to rip off the public like the sub-prime mortgage market. Big Money hedges their bet by secretly backing a future unknown to be president for when the day of reckoning may come. Big Money gets Congress to change the laws and regulations to allow them to avoid being detected as they pursue the illegal deals. Big Money gets too greedy and people can't afford the phony mortgage deals leaving trillions of dollars in losses to be absorbed by someone.

Big Money has now destroyed the US credit market and must change tactics to cover their losses. Big Money manipulates the oil futures market to generate outrageous oil profits to cover the outrageous mortgage losses driving prices to record $150 per barrel levels. Big Money sees chaos as opportunity to drive competitors from the marketplace and suddenly 10 legendary investment banking houses are reduced to two survivors.





Big Money sees chaos as opportunity to finally secure unlimited control and access of the US Treasury and Federal Reserve and tells Congress, whose campaign coffers are inflated with Big Money donations, to pass multi-billion dollar bailout bills. Big Money gets benefactors in Congress to bail out billion dollar losses in mortgage, insurance and banking industries. Big Money realizes they got too greedy and have now nearly destroyed the world economy thus limiting future chances to steal from the government if they don't fix the mess.




Big Money gets unknown candidate for president elected and promptly loads up his team of economic advisors to assure blame is deflected for mess and they control the future of the world economy. Big Money gets Democratic friends elected to control Congress and assure future Big Money prosperity. Big Money gets new Congress to adopt nearly trillion dollar economic stimulus bill to revive the sconomy and increase stock values.



Big Money gets US Treasury to underwrite "toxic" loans of Big Money and their banking partners thus transferring the debt to the taxpayers. Big Money gets Congress to pass home mortgage reforms to bailout all the toxic pending foreclosure losses of the past three years, again paid for by taxpayers. Big Money keeps new president from laying any blame for the economic meltdown, regulatory and oil price manipulation where it belongs thus assuring the continue to dominate the world.

Big Money never even has to tell the government how many trillions of dollars it will cost them to fulfill the economic stimulus, credit restoration, Wall Street welfare and Main Street salvation programs caused by the greed of Big Money over the years. Big Money has now successfully protected their financial windfalls and deferred payment to the next generation. Big Money is now hauling the taxpayer money from their Big Money friends in Congress and the White House to the big banks they own to finance the latest schemes they devise to further the interests of Big Money around the world.

The world is now the Big Money playground and the Treasury and Federal Reserve are now safely secured in the hands of Big Money. That pretty much sums it up. And by the way, the end of the quote and the source is:

"the State will have to take the road which will eventually lead to communism."

Karl Marx, 1867

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Obama's Sorry State of the State

Now that the new president is almost the president we should take a look at the state of the state he will be inheriting before we get too caught up in the euphoria of the historic moment. Make no mistake, the challenges facing Obama are among the most difficult ever faced by an incoming president. If he succeeds he will have earned his place among the greatest presidents in our history.

While Obama gets a lot of mileage out of his humble beginnings and life, the fact he went to Columbia and Harvard and his wife went to Princeton belies some of the impact. These Ivy League schools are among the best and most expensive schools in the USA and world. Let us hope he didn't lose his ability to stay humble while rubbing shoulders with the aristocrats. He certainly did acquire the ivy league taste for the good life starting with his home of well over a million dollars.

As a candidate for president Obama spent three times more than any previous candidate in history, about three quarters of a billion dollars to win 53.5% of the vote. His speech the night of the Democratic convention cost $8 million, just one speech mind you. This inauguration will cost more than $150 million, three times more expensive than any in history. Add to that the economic bailouts he already has supported to the tune of over a trillion dollars, and he isn't even president yet, and we have ourselves one very high maintenance newcomer on the political scene.

Then we get to the problems he faces. There is the economy. Big money, big banks and big fat investors are lined up waiting for the new president to bail them out of the trillions and trillions of our dollars they lost, squandered or stole the past couple of years. Seems funny that if you rob a bank you go to jail but if you steal all the money from inside the bank the government bails you out.

Why is it the financial experts guiding us out of this mess are the same financial experts who got us into the mess in the first place? If we put into jail all the people who masterminded the bankruptcy of America and the takeover of the US Treasury New York City and Washington, DC would be ghost towns, Wall Street and Capitol Hill would be surplus property, the Money God would not have a blank check on our tax dollars and unemployment would be greatly reduced because the bad guys would be locked up.

Today 1 out of every 54 mortgages in America is facing imminent foreclosure and everyone in Congress is scrambling to find ways to save the poor citizens. Now if you listen to the politicians, media and Wall Street you would think that means every other house in America is in foreclosure. The truth is less than 2% of the homes with mortgages are in foreclosure, about 2 million out of over 100 million mortgages.

If you look a little deeper at the sub-prime mortgage mess that brought down our economy, a program of waiving the normal mortgage requirements so anyone could buy a home in the mid-2000s that was the brainchild of Barney Franks and other Democratic leaders, things get more interesting. There are over 7.5 million sub-prime mortgages, mortgages in which minimum down payments were accepted, excessive fees were paid, credit fraud was tolerated, balloon interest payments were built in and inflated home values were inherent.

About 25% of the sub-prime loans are in foreclosure meaning nearly 100% of the foreclosures were not the typical citizen buying a home but the people taking advantage of the sub-prime scam and now that they are defaulting on the loans the government is now trying to figure out how to use taxpayers dollars to save them. In short, we are all going to pay for the fraud. It was these loans that were packaged by Wall Street greed mongers and sold through stock offerings that brought the banks, mortgage and financial institutions down and triggered our current recession. Trillions of dollars have been lost by investors to the very institutions claiming responsibly for managing our wealth, pensions funds, savings and so on.

Many other aspects of the economy from AIG and bank bailouts to oil price increases, the futures markets, swaps, derivatives and others were created for the purpose of getting away with what should have been illegal. Is it so important we spend trillions of government dollars to save the very people who created the scams in the first place?

In other areas there is the latest threat from Osama Bin Laden to continue his terrorist actions against the USA while wars continue in Afghanistan and Iraq. Pakistan is ready to fall to insurgents waiting to deliver it to the Taliban. India is being attacked by Pakistan. Did I mention that Pakistan, home to Bin Laden and headquarters for many terrorist groups, really has nuclear weapons unlike Iraq. Russia is testing it's strength against the Ukraine and Europe. Israel is battling the Palestinians, killing them at a rate of 71 dead for every Israeli killed. You get the international picture, just add to the violence the reality of worldwide recession and many more nations could get desperate.

Now beyond the economy, wars and international affairs there remains a health care system that is the most expensive in the world and 56 million people with no health coverage. Schools that don't teach. States that are going broke. Auto and other industries that can't efficiently produce or sell. Energy policy that leaves us subject to the pricing and manipulation of others. Immigration issues with Mexico and the threat of drug cartel warfare in Mexico crossing the border into the USA not to mention the corruption of our southern neighbor.

Wow, come to think of it do you think Obama would have become the greatest spender in campaign politics history if he knew what he was getting into once he won the election? At least we will find out real soon if that Harvard education was all it is supposed to be. If he can solve the mountain of problems and issues he inherits he should be entitled to every award like the Nobel Prize offered.

Lastly, let us not forget the other thorny issue Barack has already raised that may prove more difficult than many I listed. Our new president has already signaled the NCAA that he wants to push for a National College Football playoff and championship, something long overdue. Good luck Mr. President.

Hey Wall Street - Enough is Enough! Or Did You Already Bet on Obama?

In yet another slap in the face to the American consumer the greed mongers on Wall Street have gotten everything they wanted from the President, the Congress, the Treasury, the Federal Reserve, the international central banks, even the two candidates for president Obama and McCain and still they refuse to release the trillions of US dollars they are hoarding while continuing to hold the economy hostage.

Over two trillion dollars in American pension savings have gone up in smoke this year as the forces behind the government have manipulated and raped every treasure trove they could find to protect their precious credit, line their pockets, and demonstrate to the government just who is in charge of the US economy. Such behavior almost borders on criminal if there were any laws that existed to prosecute the predators of lower Manhattan. But thanks to the millions of dollars in special interest contributions poured into the campaigns and pockets of our elected officials no such laws exist.

Is it just circumstance that only two investment houses survived the economic meltdown this year and gobbled up all their competitors, two firms now sitting on billions if not trillions of our funds? Is it circumstance these firms have the power to call accounts in other companies, in other words demand early payment, when there is no money to be had thus driving those competitors out of business?

Is it circumstance that the survivors, Goldman Sachs and J P Morgan owned and controlled the London energy futures market used to drive up the price of oil and devastate our economy and that of the world? Well is it circumstance that these companies have poured hundreds of thousands of dollars into the campaigns of our elected officials and both were the primary beneficiaries of stunning government actions to rescue the economy?

As of August 31 according to the Center for Responsive Government Barack Obama had raised about $460 million compared to about $230 million for McCain. Obama is the first federal candidate in our history to refuse public financing even though he pledged to take the public financing which would have greatly reduced his spending in the campaign.

Goldman Sachs temple in Wall Street.

So what financial interest did Goldman Sachs have in Barack Obama? Since the beginning of his campaign the boys at Goldmans have been the biggest contributors to Obama and helped bring in millions from the Wall Street establishment. Goldman executives alone have given Obama $739,521 and have helped raise the following from Wall Street firms for Obama. CitiGroup - $492,548, J P Morgan - $475,112, UBS - $419,550, Lehman Brothers - $391,774, Morgan Stanley - $341,380 and various amounts from Bear Stearns, Credit Suisse, Deutsche Bank and Merrill Lynch.

What could be Obama's fascination with Goldman Sachs? Well it goes back as Bloomberg News reported Obama was the featured speaker at the Goldman's annual partners meeting in 2006 in Chicago. This was a junior member of the US Senate who had not even been in office two years yet he was speaking to the top executives of one of the most powerful investment houses in the world. There is something very strange about the circumstance.

The story only gets better. On May 3, 2007, Barack Obama attended an event at the Museum of Modern Art in Manhattan that was not on his public schedule and is only now surfacing. The exclusive private dinner was for Goldman Sachs traders and featured a discussion on issues moderated for the Wall Street firm by NBC's Tom Brokaw. Once again the circumstances are strange as a year later Brokaw would be moderating the second presidential debate between Obama and McCain and the economy and Wall Street were the main points of discussion. Of course the debate commission and McCain were unaware that Obama and Brokaw had already held a practice session the year earlier when Obama was facing a withering attack from Hillary Clinton and Joe Biden in the democratic primary.

Now that is three most unusual encounters between Obama and Goldman Sachs. Then comes the economic chaos and the president calls a meeting of Congressional leaders, Treasury and Federal Reserve staff and the presidential candidates. Obama, who was staying away from Washington during the crisis got the call and at the meeting was the only person to talk about a Republican alternative proposal for the crisis, a proposal that had not even been made public at the time.

Former Goldman CEO and now Treasury Secretary Paulsen.



It was later learned that a Treasury staff member reviewing the confidential proposal from Republicans was able to smuggle the information to Goldman Sachs employees who emailed it to Obama staff and it was given to him before the White House meeting, thus enabling him to pre-empt McCain from offering the new Republican proposal. Of course the Secretary of the Treasury was a former Chairman and CEO of Goldman Sachs.

Do we really know anything about the relationship between Obama and Goldman Sachs other than their massive fund raising for him? Since he has been secretly guided and financed by Goldman people from the very beginning of his presidential campaign were they influential in his economic platform. While he now admits things have changed and many of his proposals might be delayed or dropped, he still proposed a tax on the rich which would seem to be opposed to the Goldman executives.

Yet it was convenient that Goldman faced billions in losses from the sub-prime mortgage mess and they helped trigger the economic collapse with the manipulation of oil futures driving the world into a credit crisis, a crisis that helped them make billions of dollars through spiraling oil prices. Most convenient of all, the $700 billion Wall Street bailout plan was approved just before a new president was elected so the new president would not be blamed for anything that went wrong.

Obama never questioned the role of Goldman in the sub-prime fiasco nor in manipulating the oil futures prices. When Goldman specialists tried to drive the price of oil up to $200 a barrel Obama never said a word. His meetings with them over the years were in secret and his actions were a wall of silence as the boys from Wall Street destroyed the economic system forcing a historic bailout by Congress that gave Wall Street nearly unlimited access to the US Treasury. Now did all of these incidents slip his mind as well as if his secret meetings with Goldman had nothing to do with the economy. I hope he can explain to the public just what has been going on and what, if anything he promised them in return.

Nancy Pelosi Really Believes We Are Stupid

Nancy Pelosi, the Democratic speaker of the House and the person most responsible for the passage of legislation in our nation's capitol has continued her leadership mission of destroying the effectiveness of Congress with passage of the House Energy bill which is as stupid as stupid gets.

Of course Pelosi is also the one that promised to change history in her first 100 days as the most powerful person in Congress. That was over 500 days ago. We are still waiting for the first action to change history and in the meantime the approval rating of Congress has deservedly sunk to its lowest point in history, just 9% of Americans approve the job they are doing. It should be the job they are not doing.

Now her Obama energy bill promised the world we would be energy independent but as with everything Pelosi does you better read the fine print. She allowed off shore drilling for oil but only beyond 50 miles knowing full well that the vast majority of oil reserves are between 3 and 50 miles.

She also required approval by the state for the drilling but did not share any of the oil revenue with the state. So why in the world would they approve anything? It was a joke, it passed on a party line vote, and her own Democratic leadership in the Senate already declared it dead. And wasn't that the purpose all along?

If we are ever going to be energy independent we must first drill a big hole and drop in Pelosi and the Democratic leadership but then we would be sued for toxic poisoning by Democratic class action lawyers hired by the DNC to cover up the broken promises buried with the Democratic leadership.

Or maybe we should just vote them all out of office.