Obama's Radical Scheme Puts Country At Risk While Financial System Collapses
By Michael Barone, Thomas Jefferson Street blog
Obama's radicalism is the theme of Stuart Taylor, mild-mannered centrist. Great quote: "The house is burning down. This is no time to water the grass." Charles Krauthammer makes the same point at greater length:
But the list of causes of the collapse of the financial system does not include the absence of universal health care, let alone of computerized medical records. Nor the absence of an industry-killing cap-and-trade carbon levy. Nor the lack of college graduates. Indeed, one could perversely make the case that, if anything, the proliferation of overeducated, Gucci-wearing, smart-ass MBAs inventing ever more sophisticated and opaque mathematical models and debt instruments helped get us into this credit catastrophe.
And yet with our financial house on fire, Obama makes clear both in his speech and his budget that the essence of his presidency will be the transformation of health care, education and energy. Four months after winning the election, six weeks after his swearing-in, Obama has yet to unveil a plan to deal with the banking crisis.
Amen.
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A Radical Solution for America's Insolvent Financial System
A Radical Solution for America's Insolvent Financial System
Please navigate via link:
http://seekingalpha.com/article/160269-a-radical-solution-for-america-s-insolvent-financial-system
That presidential pretender
Now honestly in the real world, who cares what Joe the Plumber hast to say about this apparent jackass of a president. Big deal another criminal has taken over the White House with one agenda, "to make sure his criminal buddies, get a piece of the "$$$PIE$$$" and we get the shaft.
Well although the American people are obviously unhappy with what our government has become, (lawless) things could get a hell of a lot worse. This summer 2009 we may see food riots for the first time in those now impoverished Third World replica cities like Washington DC, Chicago,New York,Philadelphia,and all points west.
No doubt that's exactly what our glorious government (of-itself) (by-itself) and (for-itself) is pushing for "civil unrest" the worst rioting in our nation's history would be the answer to an evil prayer to enact."Marshall Law" Yes, mark my words you poor slavishly obedient sheep out there, "that don't even know your (paid for with human sacrifice and blood) Constitutional rights" this civil unrest is coming and soon to a street gang infested neighborhood near you too.
I salute that small percentage of Americans that go to work every day slaving to make a meager living, while those super rich above prosecution corrupt liberal fat cats up there on Capitol Hill laugh at your hard efforts ( taxing you to death to flip the bill for welfare) to be self-supporting.
When hard working people like these lose that ability to make that meager living, you can bet your bottom dollar that they will not go out quietly under the slave masters stinging whip. Obviously, with political corruption as the catalyst agent, this failing economy can only create so many homeless individuals before something literally explodes. I believe it's an upcoming revolution of some kind. Just call it a last ditch effort for the people of our beloved country to regain complete control over this perversely evil runaway government, not of the people. Yes, dear citizen for what that's worth in regards to all that illegal immigration, we stand all alone teetering on the edge of a deep and dark abyss of becoming a third world country and our illustrious leader laughs and giggles before the cameras on 60 minutes.
The enemy is no longer at the gate. No, the enemy is in total control of the most destructive arsenal of weapons this world has ever known.
Now which city shall be vaporized first when this upcoming revolution begins?
Conclusion, dear Uncle Sam? I will remain silent when I'm 6 feet down... until that last day comes, I shall shout it from the rooftops...
Go straight to Hell Washington AC/DC,,,,,,,,,,,,,,,,,,,,,,,, please!!! and go quickly without passing go and collecting my hard-earned $200
Obama made a serious problem into a catastrophe
The banking crisis which came to a head in September had many fathers, but they tend to fall into two camps: those who actively aided and abetted the underlying problem of sub-prime mortgages (ratings agencies, Countrywide, Dodd, Frank, Jones, Raines, etc.) and those who didn't push hard enough against this first group to head the problem off earlier (Bush, Paulson, Bernanke, Cox).
By the time Obama was elected last fall's TARP program had gone a long way toward stabilizing the banking system. While I still believe a different method would have been preferrable (not enough room here to describe it), nevertheless by November, TARP etc. had served its initial purpose. If in January it had been followed up with some intellgent and subtle rule tweaks, like mark to market, and we had gone to a variation of the S&L workout model from the 1980s, we wouldn't be out of the woods, but we'd have hope for the future.
Instead, the uncertainty about the "real" Obama after his election, followed by the dithering and incompetence of him and his team, and then the revelation of his demagogic means and socialistic aims have successfully served to frighten the market further and further. This, in turn, is creating a self-reinforcing downward spiral.
What caps the problem is that there are no grown-ups at the top of the org chart: Obama, Biden, Pelosi, Reid. Sure there are some below (Summers, Volker), but they're being ignored. Bernanke seems to muddling through, but he's all by himself and is trying to put out the fire, while the rest party with the best that money can buy.
Obama has demonstrated that either a) he is dangerously out of touch with the importance of the market to everyone; or b) he just doesn't care. Both possibilities are frightening, as he doesn't demonstrate the mental curiousity or flexibility to change his narrow mindset.
In other words, if this were 2007, or if McCain (or Hillary) had won in November we would probably be starting to see light at the end of the tunnel and the Dow would likely be in the 9k- 10K range.
A new Congress in 2010 will be able to counter this dangerous Administration, but we have to survive until then. And fixing the problems that are going to come from the actions of this Congress and Administration will be very painful and very expensive for everyone, especially those who think Obama's going to fix all their cares and woes.
Obama's catastrophe is the financial equivelent of a major war on our soil. But it's been our new government that is shooting at us and blowing things up.
I hope something changes sooner. I hope there are enough responsible Democrats in Congress to stop this crazy train before the kids at the controls take us all over a cliff.
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