Tag Archives: Economy

Nothing Left To Give

It wasn’t a slip of the tongue when candidate Obama said something like ‘the United States is the greatest country in the world, that’s why we need to change it.’

To a socialist, the very fact that America has become as great as it is in under 200 years, while Europe and Asia go back thousands of years, just gets under their skin. So as not to miss the obvious question, why do you suppose that is? Two words, freedom and liberty.

Because of our freedom and generosity, Americans have become the greatest producer and contributor of foreign aid in the world, and by a long shot. Not only in terms of money given but in terms of the ability of American farmers and industry to feed the world and for our military to provide aid after natural disasters wherever they may occur. Right, we need to change that.

Click to enlarge. And read what the grandfather of Newsweek editor Evan Thomas, Norman Mattoon Thomas, said about socialism and the Democrat Party.

A look at the numbers of where we are going is in an article by Alan Aronoff at American Thinker entitled Stimulating America’s Decline and begs your reading.

The fundamental change that the Obama administration has in mind will cripple the economy and suppress capitalism by suppressing risk taking and investment.  There is already a lengthy history of government involvement in private industry whether by ‘bailout’ (democrat-speak for ‘takeover’) or takeover, where this administration is concerned.

For years Democrats in Washington have been pre-occupied with our image in the world. I wonder what our image in the world will be when the ‘land of plenty’ has nothing left to give?

Today's Special, The Federal Reserve

I’m beginning to see a pattern here in determining reasons to fire an Inspector General. If you put your head in the sand, like FRB IG Elizabeth Coleman, you keep your job. If you actually find problems, like IG Gerald Walpin, your gone.

Elizabeth A. Coleman was appointed Inspector General for the Board effective May 6, 2007. In this role, Ms. Coleman leads a staff responsible for promoting economy, efficiency,and effectiveness within Board programs and operations. The Office of Inspector General (OIG) is also responsible for preventing and detecting waste, fraud, and abuse at the Board, among other duties. The OIG achieves its legislative mandate through audits, evaluations, investigations, legislative reviews, and by keeping the Chairman of the Board and Congress fully informed.

Wouldn’t you like to know what the Fed has been doing with trillions of your, your children, and grand children’s dollars? Don’t you have a right to know? This video is a jaw dropper. And Alan Grayson’s (D-FL) questions are spot on, and up to this point have never even been asked. As is his conclusion that no one is keeping track of the money.

Who’s auditing the auditors? Who’s auditing the Federal Reserve? It’s time for the Fed to bend over and grab the ankles, and show us where they’ve put trillions of stimulus dollars. And why? The transparency the Obama administration promised the American taxpayer is lost. Some would argue we were lied to and there never was any intention for the administration to show their hand.

In this video Alan Grayson (D-FL) discusses Ron Paul’s (R-TX) H.R. 1027, a bill to audit the Federal Reserve.

Hat Tip: The Daily Bail

Small Business Loan Program (ARC)

Compared to the trillions of dollars being dumped on future generations of Americans to grow government and to create temporary jobs with make-work programs, here is one program, maybe the only program, that is designed to help small business. Emphasis on small.

America’s Recovery Capital (ARC) Loan Program is a new temporary guaranteed-loan program authorized by the American Recovery and Reinvestment Act of 2009 (the Recovery Act). ARC Loans provide small businesses access to the capital needed to drive economic recovery and to retain and create jobs.

ARC Loans are deferred-payment loans of up to $35,000 available through SBA’s 7(a) participating lenders. Potential borrowers are viable, for-profit small businesses located in the United States that need short-term help to make their principal and interest payments on existing, qualifying loans. ARC Loans are interest-free to the borrower, 100% guaranteed by SBA to the lender, and have no fees associated with them. SBA pays the interest to the SBA 7(a) lender making the loan. ARC Loan funds are to be used for payments of principal and interest for up to six months on existing, qualifying small business loans.

The program sounds good to those that don’t own or run a small business,  though not near as bold as the programs the administration is implementing to grow government.

The practicality of a program like this is limited in scope and effectiveness. $35,000 would only last a few months at best for a typical small business, depending on the overhead, number of employees, and benefits associated with employment. It is fair to say that the economic troubles this economy is in will last a lot longer than a few months. However, it does account for the ‘save or create’ rhetoric coming out of Washington.

Why this program isn’t in the news is another story.

Below is a communication sent to SBA employees by Eric R. Zarnikow, Associate Administrator for Capital Access.

Continue reading Small Business Loan Program (ARC)

Prius US Sales Down 45 Percent

It’s fair to say that auto sales of any brand is down, and down significantly and for a lot of reasons, not the least of which is government intervention. Current economic conditions aside, the Prius and vehicles like it are not what the market demands. And for whatever demand there is, there is no demand to eliminate the SUV and American cars as we know them. That demand is coming from Washington, not the market.

Despite claims that Americans turning their backs on gas-guzzlers have contributed to the present dire straits faced by GM and others, Toyota’s latest sales figures point to a stagnant market for more efficient Japanese models as well.

Sales of the Prius in the US were down from 15,011 in May 2008 to just 10,091 for the same month this year. For the year to date, sales of the Prius in the US stand at 42,753 compared to 79,675 in 2008 – a drop of more than 45 per cent.

Markets don’t respond well to political direction. Markets are self-correcting when ‘allowed.’  That is to say, when they are not interfered with.  Above everything else, markets don’t do well in an atmosphere of fear, uncertainty, and doubt. In light of the power grab the Obama administration has perpetrated over various industries and companies within his first 100 days, the only message Barack Obama is sending to business is watch out, you could be next.

'Green' Transport Not All That Green

Here’s an interesting bit of information about how environmentally-green mass-transportation is not simply ‘green’ by default. Written not by politicians, but by scientists, which probably qualifies them as card carrying extremists.

Its authors point out an array of factors that are often unknown to the public. These are hidden or displaced emissions that ramp up the simple “tailpipe” tally, which is based on how much carbon is spewed out by the fossil fuels used to make a trip.

Environmental engineers Mikhail Chester and Arpad Horvath at the University of California at Davis say that when these costs are included, a more complex and challenging picture emerges.

In some circumstances, for instance, it could be more eco-friendly to drive into a city — even in an SUV, the bete noire of green groups — rather than take a suburban train. It depends on seat occupancy and the underlying carbon cost of the mode of transport.

Which reminds me of a related subject, biofuels. Did you know that it is greener to burn our fossil fuels than to produce and burn biofuels?

links: Think twice about ‘green’ transport, say scientists | Fossil Fuels Out-Green Biofuels

American Capitalism Gone With A Whimper

On the day that the government takeover of GM is complete, which President Obama explained as just temporarily helping out the auto industry, as ‘reluctant shareholders,’ leave it to a Russian citizen to put it all in its proper perspective. They have been there, done that.

It must be said, that like the breaking of a great dam, the American decent into Marxism is happening with breath taking speed, against the back drop of a passive, hapless sheeple, excuse me dear reader, I meant people.

True, the situation has been well prepared on and off for the past century, especially the past twenty years. The initial testing grounds was conducted upon our Holy Russia and a bloody test it was. But we Russians would not just roll over and give up our freedoms and our souls, no matter how much money Wall Street poured into the fists of the Marxists.

Those lessons were taken and used to properly prepare the American populace for the surrender of their freedoms and souls, to the whims of their elites and betters.

BM Barack Motors
In reality, its BM, Barack Motors

This morning, the President told the auto industry that they have to make the sacrifices, so that his children and their children and grandchildren can live in a country where we still make things. He fired GM’s president, replaced the board, put his advisers on it, dictated the kind of cars they are going to make,  and he also said that he doesn’t want the government to run the company. What he said was exactly this . . .

The federal government will refrain from exercising its rights as a shareholder in all but the most fundamental corporate decisions.

What? Just the most fundamental corporate decisions? Like who will be on your board of directors, what kind of car to make, and the mileage standard it must meet, the type of fuel it must run on, and where it will be made. It’s reassuring that he doesn’t want to run the company isn’t it?

And the change doesn’t stop there.

  • The nationalization of the auto industry, and giving ownership stake to the UAW over secured creditors.
  • President Obama’s Justice Department under Eric Holder, has dropped charges against some Black Panther members who were intimidating voters in Philadelphia. This, after the defendants failed to answer the suit, putting them in default. But instead of making arrests, the DOJ drops the charges. What was that noise about enforcing voting laws?
  • President Obama’s Justice Department under Eric Holder, just told the State of Georgia that they may not purge their voting rolls of dead people and illegal aliens.

Is it me or are things beginning to unravel? I can hardly wait to see what kind of cars that Obama, his auto industry advisers, and the UAW will produce.  And, besides the government, who will buy them?

That this seismic shift from a free market capitalistic society to a socialist / Marxist type society is happening without comment from our media gives credence to the ”passive, hapless sheeple’ comment from the writer. If you were a frog in a pot of water, the heat has just been turned up. It’s time to get out. If you’re not a frog, then it’s time to speak up.

aSide Order

Alfonzo Rachel’s Zo Nation on the Economy

Chavez Trims 4 Day TV Anniversary Special In Half

The hemisphere’s idiot, Venezuelan President Hugo Chavez, is not having a good week. According to all the government controlled media hype about Chavez’s special 10th anniversary Chavez-a-thon, the planned 4-day TV special was quietly and mysteriously cut in half.

For the second consecutive day, Venezuelan President Hugo Chavez has cancelled his TV show Alo Presidente. In the end, his four-day TV anniversary extravaganza was reduced to a handful of transmissions over just two days.

And on an unrelated related matter, have you noticed fewer Citgo gas stations around town? Hip Hip Horay! One can only hope that the Citgo employees are able to find employment at a real American oil company.

Hardin, Montana, A Place To Hold Guantanamo Terrorists

Never mind the mis-use of the ‘redneck‘ moniker, but you have to consider the source. The British media apparently is confused between the ‘wild west’ and rednecks. On the flip-side, would you have known of this if it weren’t for the foreign media? That aside, there is a town in America that wants to keep the detainees in their new prison, which is vacant. What?

I’d much prefer that GITMO and its residents stay right where they are. However, the idea of  solving a logistical problem and providing an economic stimulus in one fell swoop does sound interesting.

As California Goes . . .

Latest budget deficit total for California now is $24 billion. I don’t know how this got out, it is from AP, but it is also over 50% correct in why California is where it is today. Writer Juliet Williams says . . .

The gap has two primary causes: The state has been living beyond its means for years by spending generously on all sorts of programs that the voters, the politicians and the special interests wanted. And the recession has hammered California’s economy.

As one industry after another becomes a target for government intervention by an administration that sees nothing wrong with that, could states be far behind? But that’s beside the point. The point is, you can expect the same results nationally to the administration’s economic model as what California is facing today with theirs. Only worse.

There’s a lot of truth to the lore that as California goes, so goes the nation. I’m old enough to remember when the bikini came out in Hollywood and on California’s beaches. That was good. Liberating. Just ask any teenage boy.

As for the ‘over 50% correct’ comment. Williams errs by putting the voters first, when in reality it should be last, after politicians and special interests.

It was California voters that tried on many occasions to reign in Sacramento’s feelgood spending. And it was the 9th Circus Court of Appeals that overturned the voters time after time, in favor of politicians and special interests and against the voters.  But blaming the voters, you know, those stupid voters, for not knowing whats best for them is, in this case, a deflection of guilt to the wrong party. On second thought, now I see why this article got out. Never miss an opportunity to blame the voters.

Obama: My Economic Policies Are Unsustainable

In an effort to be the Harry Houdini of Washington, after voting for the very policies that he is deriding, President Obama is pulling another one over on the media and the American people.  Speaking at a town-hall  meeting in Rio Rancho, New Mexico, outside Albuquerque, his message was clear.

President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.

“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”

Becoming the greatest show (fraud?) on earth, our President is deriding the very policies that he ran on , proposed, voted for, and coerced Congress into passing, while accepting zero responsibility for any of  it. Ta da!

Mission accomplished. Meanwhile . . .

Earlier this week, the Obama administration revised its own budget estimates and raised the projected deficit for this year to a record $1.84 trillion, up 5 percent from the February estimate. The revision for the 2010 fiscal year estimated the deficit at $1.26 trillion, up 7.4 percent from the February figure. The White House Office of Management and Budget also projected next year’s budget will end up at $3.59 trillion, compared with the $3.55 trillion it estimated previously.

Rush . . .

This is the guy who has just saddled us with $11 trillion in budget deficits for the next ten years, warning that his own policies have wrecked the US economy and that they cannot be continued.  He threw himself under the bus.  We can’t continue Obamaism.  Just barely over a hundred days into his administration, Obama has condemned his own administration, and nobody in the Drive-By Media gets this.

[t]he president of the United States, after a mere 100-plus days, has just thrown his own administration, all of his policies, under the bus, just condemned them, just ripped them to shreds. I mean he has been more forcefully critical of his own policies than he ever was of George W. Bush.

related links:

Obama:Forget The Facts, Listen To Me

If it is not in the mainstream media, did it really happen? Take this week’s summit with health care CEO’s on Monday for example.

The president said Monday that six major health care organizations had pledged to “cut the rate of growth of national health care spending by 1.5 percentage points each year — an amount that’s equal to over $2 trillion.”

But three days later, The New York Times reported that those organizations said they never committed to specific annual cuts, just to cut spending gradually, and that the president’s description has their members up in arms.

Today, President Obama’s address to the nation repeats his script from Monday, saying with a straight face that he had a $2 trillion pledge from these health care organizations. Words, just words. Even though they were lying words, he says them so well.

Today’s performance also shows two things about President Obama. He doesn’t mind lying to the American people, and he still is in campaign mode. Just like his Democrat predecessor.

I hate to sound like a broken record when it comes to Obama and what motivates him, but until the media takes on that responsibility I’ll be happy to oblige. And it is what motivates him that he is careful not to let you see.

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