Obama's buck may have stopped, but he's spending ours!
The AIG flap has uncovered a lot of dirty dealings in the Obama administration, and now even with Obama’s double-speak people can see, if they care to, what is behind the curtain. A Republican Senator and a Democratic Senator put in an amendment in the stimulus bill to keep AIG from giving bonuses to upper-echelon managers. This amendment was defeated. Then Chris Dodd puts in an amendment that allows the giving of bonuses. Now he says that he was told to by the Treasury department – something rotten in Denmark. Then Obama does his double-speak, blaming it on others and then says the buck stops here. He has never accepted any blame for anything he has done or said and never will. That he would use Truman’s code of “the buck stops here”, to me, is disgusting. Not only has he insulted Truman, but likening himself to Lincoln, FDR, and JFK is despicable.
Also Obama’s people are in the background picking out a person a day to attack and change the subject from their own ineptitude and are trying to keep the public ignorant to what this administration is doing and secretly planning. For instance, spitting James Carville and Stanley Greenberg, a Democratic pollster, on the morning of the 911 terrorist acts, both said they wanted Bush to fail as President and after the attack asked the press to kill the story, which they did. When Rush said he hoped Obama’s POLICIES would fail and Carville and the press came down on Rush hard, didn’t you think that was hypocrisy? Also the Obama administration, to change the subject, has gone after Jim Cramer, Dick Cheney, and Rick Santelli. Their actions in this regard will continue, and I don’t think prosecutors and law enforcement in Missouri would want to stop their actions, as they told people during the election they would prosecute anyone who said anything about Obama. See attached video:
Did any of them get a post in the Obama administration?
Terence Corcoran: Is this the end of America?
U.S. law-making is riddled with slapdash, incompetence and gamesmanship
By Terence Corcoran
Helicopter Ben Bernanke’s Federal Reserve is dropping trillions of fresh paper dollars on the world economy, the President of the United States is cracking jokes on late night comedy shows, his energy minister is threatening a trade war over carbon emissions, his treasury secretary is dithering over a banking reform program amid rising concerns over his competence and a monumentally dysfunctional U.S. Congress is launching another public jihad against corporations and bankers.
As an aghast world — from China to Chicago and Chihuahua — watches, the circus-like U.S. political system seems to be declining into near chaos. Through it all, stock and financial markets are paralyzed. The more the policy regime does, the worse the outlook gets. The multi-ringed spectacle raises a disturbing question in many minds: Is this the end of America?
Probably not, if only because there are good reasons for optimism. The U.S. economy has pulled out of self-destructive political spirals in the past, spurred on by its business class and corporate leaders, the profit-making and market-creating people who rose above the political turmoil to once again lift the world out of financial crisis. It’s happened many times before, except for once, when it took 20 years to rise out of the Great Depression.
Past success, however, is no guarantee of future recovery, especially now when there are daily disasters and new indicators of political breakdown. All developments are not disasters in themselves. The AIG bonus firestorm is a diversion from real issues , but it puts the ghastly political classes who make U.S. law on display for what they are: ageing self-serving demagogues who have spent decades warping the U.S. political system for their own ends. We see the system up close, law-making that is riddled with slapdash, incompetence and gamesmanship.
One test of whether we are witnessing the end of America is how many more times Americans put up with congressional show trials of individual business people and their employees, slandering and vilifying them for their actions and motives. And for how long will they tolerate a President who berates business and corporations as dens of crime and malfeasance? If the majority of Americans come to accept the caricatures of business as true, then America is closer to the end of its life as a global leader, as a champion of markets and individualism.
But America is at risk in other ways, especially in the technical business of setting and executing policy. The presidency of Barack Obama has set out on a course that has no precedent in U.S. history. Franklin D. Roosevelt, whose New Deal transformed the U.S. economy during the Great Depression, pushed America off on a sharply different political and ideological course. The Obama administration is different in many ways, not least in its supreme self-confidence in its methods and objectives.
Reform of health care, environmental policy, education, energy, banking, regulation — every nook and cranny of the U.S. economy has been put on alert for major change. Expansion of government spending, plunging the U.S. into unprecedented deficits, is without parallel. In economic policy, through regulation and control of energy output, financial services and monetary expansion, the U.S. government has embarked on a fundamental reshaping of America. It is designed, in short, to bring on the end of America.
The spillover effect of all this on the rest of the world promises to be dramatically disruptive. The greatest global risk is in monetary and currency policy. Below is a chart that graphically demonstrates the sharp deviation in monetary policy from past norms. Under the chairmanship of Ben Bernanke, the Federal Reserve is in the midst of a giant economic experiment, flooding the world with U.S. dollars, hoping that flood will stimulate economic activity.
The total monetary base, already at astronomical levels, is now expected to take another big hit with the new Fed policy of buying up U.S. longer-term treasury bills in a bid to drive down long-term interest rates.
Mr. Bernanke is sometimes known as “Helicopter Ben” because he once in an academic paper referred to the use of “helicopters” full of money to rescue an economy from deflation. In comments Wednesday to explain the Fed’s new policy of buying $300-billion in U.S. treasury bills, Mr. Bernanke noted that the Fed is now more worried about inflation being too low than about it getting too high in the future.
For the rest of the world, however, the worry is that America is at risk of becoming the fountainhead of a new inflationary outburst. The U.S. dollar is now in decline, gold is moving sharply higher, and new global currency turmoil is on the horizon.
It may not happen. A paper just published by the Federal Reserve Bank of St. Louis, source of the chart above, says that the Fed will have to be prepared to absorb all the excess money it has poured into the U.S. economy. It will be a technical and political challenge unlike any central bank has ever undertaken. The future of America is at stake.
16, September 1992 – known as Black Wednesday in England – George Soros made over $1 billion from manipulating their currency. The government lost over $3.4 billion. This is the same George Soros underwriting fascist groups in the United States while pretending that they are Democratic groups, such as MoveOn.org and others. Obama had a fascist group working for him during the election known as ACORN, underwritten by Soros. The English had spent $27 billion to prop up their currency before Black Wednesday happened and now our federal reserve has issues a trillion dollars to prop up the dollar. But that leaves this country open to currency manipulators of every stripe. The manipulators of markets are attacking the price of oil and gas again. As far as I know, there is still a surplus and oil tankers still circling the country waiting for the price of oil to go up.
Financial writers apparently in league with manipulators are saying the price of oil going up is GOOD. I guess they missed the fact that the economy increases that have occurred were consumer spending in January and February. I will say it will be a good thing for Iran, Russia, and OPEC members mostly in the Middle East and countries that hate our Democracy and whose citizens yearn for the freedoms that American citizens enjoy. Their leaders fear these wishes spreading and the citizens rallying could destroy their house of cards. Now that Obama and the Democrats are in charge, they really have nothing to fear.
I think that Obama, Geithner, Chris Dodd, and all those FAKERS on the committees investigating the AIG bonuses owe the CEO, who came out of retirement at their request to take over this mess at $1 per year. The idea of those who started this whole ball of wax, or at least continued the deception of Fannie and Freddie, owe not only Liddy an apology, but also the American people, their constituents for the black mark they placed on this Congress and those that came before and for taking away any faith in Congress in the future. For an administration that was to be as pure as the driven snow, it has turned out to be as clear as mud and twice as thick – transparency my A$$!
And now this Democratic Congress has compounded its crime with some Republicans assisting with the aborting of the Constitution. The Democrats know that these bonuses were authorized by them and when caught feigned ignorance until caught in the lie and tried to put this off on AIG employees who got the bonuses. I feel sorry for those low-level employees of AIG, of which there are thousands, and how their neighbors are treating them. The Catholic Church surprises me that they allow false witness, abortions being pushed by their parishioners, and why they don’t excommunicate Joe Biden, Nancy Pelosi, and all those involved in this fiasco – when they seem to allow serious crimes against their religion, as in Teddy Kennedy’s actions, his gift to the Catholic Church was in the name of Mary Jo Kopechne; also Teddy’s father Joe and the mafia give large gifts to the Catholic Church – as the Democratic Catholics of the Church are, I am sure, very puzzled by how these elites are treated differently then them.
I know the aborting of the Constitution doesn’t concern the Catholic Church but some of them bearing false witness SHOULD concern the Catholic Church – we know abortion does – at least I think they should be concerned about aborting fetus’s in the wound.
One thing that I would dearly love to see would be Obama giving a speech without his teleprompter. Has he ever done this in the past? I can’t imagine Everett Dirksen or Robert Byrd requiring that crutch. The fears that I have for our Republic are not fake and I do worry with Obama at the wheel. If I thought his supporters had any intelligence, I wouldn’t worry so, but I am afraid that they are the ones taught by left-leaning liberal professors, and the rest are a CULT reacting as the people did to the Pied Piper. His dulcet tones and lies are delivered with crowning rhetoric with the help of his teleprompter. If he succeeds in raising the price of oil, he wil surely be helping Iran and Russia. Then cutting our military, as he has already,drastically, he will be the darling of Russia and Iran. Perhaps that Russian economist saying that the U.S. will disintegrate has a direct conduit to Obama. Cutting missile defense and advanced weaponry is an invitation to all our enemies.
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