Christina Romer, chair of Obama's Council of Economic Advisers, is resigning her post. Romer, said to be an expert in the Great Depression, has done her best to get us into another Great Depression.
Romer's economic guidance has been devastating to the country. Never before has this nation had so much long term unemployment, not even under Carter's devastating tenure.
Roemer was the chief architect of Obama's great economic failure, the Obama Excessive Government Spending and Debt Plan (a/k/a the "Stimulus"). Romer co-wrote a justification paper saying the Obama Stimulus would keep unemployment rates from rising above 8%. She was, predictably, dead wrong. Liberals who call themselves economists always are. Even so, she has advocated a path of "doubling down" by borrowing yet more Chinese money and increasing government spending even more.
Her failure will almost certainly be rewarded with an appointment as the chairwoman of the San Francisco Federal Reserve Bank. Such is the path of the liberal elite.
Showing posts with label Socialists. Show all posts
Showing posts with label Socialists. Show all posts
Friday, August 6, 2010
Monday, July 26, 2010
The Inevitable Result of Health Care Centralization
Rationing. It is all a government can do when consumers are not allowed to self-ration based on disposable income and evaluations of actual need.
Headline: NHS bosses have drawn up secret plans for sweeping cuts to services, with restrictions on the most basic treatments for the sick and injured.
http://www.telegraph.co.uk/health/7908742/Axe-falls-on-NHS-services.html
Privatize or die. Literally.
Headline: NHS bosses have drawn up secret plans for sweeping cuts to services, with restrictions on the most basic treatments for the sick and injured.
http://www.telegraph.co.uk/health/7908742/Axe-falls-on-NHS-services.html
Privatize or die. Literally.
Friday, April 23, 2010
Open Letter to Ed Whitacre
Dear Ed,
I've just seen Government Motor's (GM) new television advertisement (bought with taxpayer funds) where you claim "...we have repaid our government loan, in full, with interest..."
This announcement comes after GM paid less than 7 billion dollars to the U.S. Treasury.
Your commercial implies GM only had one loan from the US Government, that it was less than 7 billion dollars, and that you are now free and clear of taxpayer bailout funds. One might even reasonably imply from your commercial that the funds you paid were out of earnings from GM since the loan.
You and I both know that this is not the case at all. The "loan" does not even begin to cover the amount of taxpayer-funded bailout.
Off the top of my head, I can demonstrate that GM received all of the following taxpayer bailout funding for GM's "second chance":
Auto Supplier Support Program: GM received not less than 2.5 Billion dollars of taxpayer money
Automotive Industry Financing Program: GM received not less than 49 Billion dollars of taxpayer money
This does not even include the 13+ Billion dollars of taxpayer money received by GMAC, GM's financing arm.
Let's also be honest about where the "loan repayment" money came from: you have paid off taxpayer loans with other taxpayer "investment" dollars, not earnings from car sales. I can read your SEC filings.
As to your remarks about paying the "loan" back "with interest", after hearing of your statements, even the White House had to issue a statement saying that the taxpayers will almost certainly LOSE MONEY on the GM investments. That is not interest; it's a loss.
I also recall that one of the lynchpin arguments in support of the Automotive Industry Financing Program was that it was necessary to save American jobs. Yet since the socialization of GM, 65,000 jobs were cut by GM. It seems redundant to point out that GM could have accomplished the same thing in bankruptcy restructuring without requiring the taxpayers to foot the bill.
This commercial of yours will go down in history as one of the most disingenuous commercials ever to be aired on American television. I could not even characterize your statements has half truths - the lies by omission in this ad are monumental and inexcusable.
I challenge you, Ed Whitacre, to immediately pull this ad and replace it with an ad that correctly lays out what GM has received from the American taxpayers, what has been returned to the taxpayers due to actual profits generated by GM, and together with the UAW beneficiaries of all this American taxpayer largesse, thank all the taxpayers for the help and beg us to be merciful on your failing, disingenuous welfare case of a corporation.
I've just seen Government Motor's (GM) new television advertisement (bought with taxpayer funds) where you claim "...we have repaid our government loan, in full, with interest..."
This announcement comes after GM paid less than 7 billion dollars to the U.S. Treasury.
Your commercial implies GM only had one loan from the US Government, that it was less than 7 billion dollars, and that you are now free and clear of taxpayer bailout funds. One might even reasonably imply from your commercial that the funds you paid were out of earnings from GM since the loan.
You and I both know that this is not the case at all. The "loan" does not even begin to cover the amount of taxpayer-funded bailout.
Off the top of my head, I can demonstrate that GM received all of the following taxpayer bailout funding for GM's "second chance":
Auto Supplier Support Program: GM received not less than 2.5 Billion dollars of taxpayer money
Automotive Industry Financing Program: GM received not less than 49 Billion dollars of taxpayer money
This does not even include the 13+ Billion dollars of taxpayer money received by GMAC, GM's financing arm.
Let's also be honest about where the "loan repayment" money came from: you have paid off taxpayer loans with other taxpayer "investment" dollars, not earnings from car sales. I can read your SEC filings.
As to your remarks about paying the "loan" back "with interest", after hearing of your statements, even the White House had to issue a statement saying that the taxpayers will almost certainly LOSE MONEY on the GM investments. That is not interest; it's a loss.
I also recall that one of the lynchpin arguments in support of the Automotive Industry Financing Program was that it was necessary to save American jobs. Yet since the socialization of GM, 65,000 jobs were cut by GM. It seems redundant to point out that GM could have accomplished the same thing in bankruptcy restructuring without requiring the taxpayers to foot the bill.
This commercial of yours will go down in history as one of the most disingenuous commercials ever to be aired on American television. I could not even characterize your statements has half truths - the lies by omission in this ad are monumental and inexcusable.
I challenge you, Ed Whitacre, to immediately pull this ad and replace it with an ad that correctly lays out what GM has received from the American taxpayers, what has been returned to the taxpayers due to actual profits generated by GM, and together with the UAW beneficiaries of all this American taxpayer largesse, thank all the taxpayers for the help and beg us to be merciful on your failing, disingenuous welfare case of a corporation.
Saturday, March 20, 2010
Epic Threat Weekend
This weekend is a huge pivot point for the future of the United States and the Obama-Reid-Pelosi government takeover plan for 17% of the economy.
In their typically deceptive way, the Democrats have pointed to the crushing amount of unfunded future "obligations" imposed on the projected Federal budgets by the socialist Medicare program, and then said they needed to tackle the cause of this burden: private health insurance. Talk about kicking the dog because the cat made a mess.
Certainly the only completely wrong way to reduce the future costs of socialized medicine is to create more socialized medicine.
I am left to ponder the question: Do we need health care insurance reform, or do we really need government reformed?
In their typically deceptive way, the Democrats have pointed to the crushing amount of unfunded future "obligations" imposed on the projected Federal budgets by the socialist Medicare program, and then said they needed to tackle the cause of this burden: private health insurance. Talk about kicking the dog because the cat made a mess.
Certainly the only completely wrong way to reduce the future costs of socialized medicine is to create more socialized medicine.
I am left to ponder the question: Do we need health care insurance reform, or do we really need government reformed?
Monday, February 22, 2010
Obama to Double Down on Socialism
For nearly half a year, the American people have pointed out the most outrageous and costly elements of the Democrat's socialist health care nationalization plan. And for half a year, Obama's lackeys have claimed "that's not the President's plan."
This week, B. Hussein Obama is set to reveal his plan. It turns out that the Reid-Pelosi plan was not costly or socialist enough for a true Statist like the Anointed One.
To the extent the Federal government should be involved in health care "reform", it must be to reduce the Federal role in health care -- after all, everyone agrees that the existing health care projections and expenditures in the Federal budget are unsustainable. But only in a Statist's wildest Socialistic dreams could an exercise in cost reduction result in the quintupling of the size of the program and budget.
Unlike most of the Conservative commentators, I hope the GOP does meet with B. Hussein Obama on television this week, and they should launch a principled and unrelenting critique of the Anointed One's plan, destroying it element by element. The American people do not want Socialized medicine, do not want a Federal takeover of health care, and do not want Washington DC running their lives.
The GOP does not need to propose an alternative plan to win this. Doing nothing is better than enacting any Democrat's plan. It is appropriate and instructive to recall the first principle of the Hippocratic oath -- first do no harm.
Update: As more details come out, the Anointed One's plan has all the tried and failed socialist remedies: higher taxes, higher government spending, higher deficits, more government control over citizen lives and medical decisions, prices controls, a huge new bureaucracy, and illogical reasoning: we're spending your money to save it.
Additional Update: Follow this media talking point: "Mandating insurance coverage for all Americans will mean that the insured will stop paying for the medical expenses of the uninsured. And there are government insurance vouchers to pay for insurance for those who can't afford it."
This week, B. Hussein Obama is set to reveal his plan. It turns out that the Reid-Pelosi plan was not costly or socialist enough for a true Statist like the Anointed One.
To the extent the Federal government should be involved in health care "reform", it must be to reduce the Federal role in health care -- after all, everyone agrees that the existing health care projections and expenditures in the Federal budget are unsustainable. But only in a Statist's wildest Socialistic dreams could an exercise in cost reduction result in the quintupling of the size of the program and budget.
Unlike most of the Conservative commentators, I hope the GOP does meet with B. Hussein Obama on television this week, and they should launch a principled and unrelenting critique of the Anointed One's plan, destroying it element by element. The American people do not want Socialized medicine, do not want a Federal takeover of health care, and do not want Washington DC running their lives.
The GOP does not need to propose an alternative plan to win this. Doing nothing is better than enacting any Democrat's plan. It is appropriate and instructive to recall the first principle of the Hippocratic oath -- first do no harm.
Update: As more details come out, the Anointed One's plan has all the tried and failed socialist remedies: higher taxes, higher government spending, higher deficits, more government control over citizen lives and medical decisions, prices controls, a huge new bureaucracy, and illogical reasoning: we're spending your money to save it.
Additional Update: Follow this media talking point: "Mandating insurance coverage for all Americans will mean that the insured will stop paying for the medical expenses of the uninsured. And there are government insurance vouchers to pay for insurance for those who can't afford it."
Tuesday, January 19, 2010
Massachusetts: Nope! Keep the Change
Tonight, none less than the Peoples Republic of Taxachusetts voted to reject the Obama-Pelosi-Reed Democrat plan to socialize health care in the United States.
The nation is on day 25 of the Democrat-only behind closed doors plotting to socialize the nation’s health care system, take away your medical insurance, increase taxes, and degrade the health of all United States citizens and really, the world.
And 364 days after the Anointed One occupied the Office of the President, the nation, through the election of Scott Brown, gave a clear message to Washington and the Democrats – HANDS OFF OUR HEATHCARE.
Not that liberals will listen. Being a liberal means never having to say you are sorry because you know better than voters how to spend their money and run their lives.
For the citizens watching their nation being spent into bankruptcy and their freedoms being lost, they did the only thing they controlled.
Scott Brown reminded the Democrats that the Massachusetts Senate seat belonged to the people, not the Democrats. The Democrats better keep in mind that our healthcare insurance, our relationships with our doctors, and our money belong to US, not THEM.
This is a stinging defeat of the Democrat’s socialist agenda. With double digit unemployment, and declining dollar, and out of control government spending, let me remind the Democrats what they once knew – It’s The Economy Stupid! Government takeovers must stop now. Scott Brown in the Senate will make it harder for Obama to keep socializing our economy.
UPDATE: Democrat Senator Jim Webb of Virginia, a supporter of socialized health care, tonight called for a suspension of Senate votes on health care until Scott Brown is seated in the Senate. I sense that Jim Webb's views of socialized medicine are "evolving."
The nation is on day 25 of the Democrat-only behind closed doors plotting to socialize the nation’s health care system, take away your medical insurance, increase taxes, and degrade the health of all United States citizens and really, the world.
And 364 days after the Anointed One occupied the Office of the President, the nation, through the election of Scott Brown, gave a clear message to Washington and the Democrats – HANDS OFF OUR HEATHCARE.
Not that liberals will listen. Being a liberal means never having to say you are sorry because you know better than voters how to spend their money and run their lives.
For the citizens watching their nation being spent into bankruptcy and their freedoms being lost, they did the only thing they controlled.
Scott Brown reminded the Democrats that the Massachusetts Senate seat belonged to the people, not the Democrats. The Democrats better keep in mind that our healthcare insurance, our relationships with our doctors, and our money belong to US, not THEM.
This is a stinging defeat of the Democrat’s socialist agenda. With double digit unemployment, and declining dollar, and out of control government spending, let me remind the Democrats what they once knew – It’s The Economy Stupid! Government takeovers must stop now. Scott Brown in the Senate will make it harder for Obama to keep socializing our economy.
UPDATE: Democrat Senator Jim Webb of Virginia, a supporter of socialized health care, tonight called for a suspension of Senate votes on health care until Scott Brown is seated in the Senate. I sense that Jim Webb's views of socialized medicine are "evolving."
Thursday, August 6, 2009
How Participatory Democracy Scares Democrats
As more and more people come to read the liberty destroying portions of the House version of the Obamacare Health Reform bill, the members of the Democrat party are becoming uncomfortable with hearing from their constituents. The whole thing reminds me of an interchange between Count de Monet and King Louis XVI in the Mel Brooks film History of the World Part 1:
Count de Monet: It is said that the people are revolting.
King Louis XVI: You said it! They stink on ice!
Watch the clip on Youtube: http://www.youtube.com/watch?v=TYpYs9GBXwY
Democrats have been participating in rent-a-mob politics for so long they believe any group of people that show up at a political meeting focused on a single issue MUST be organized by some puppet master, just as they play puppet master to their “constituents.” To a Washington liberal, it is beyond the realm of the possible that citizens – of their own volition -- might come to a town hall meeting or other public forum to challenge the permanent political class. The voting/tax-paying class is clearly not politically savvy enough to behave in such an effective manner! Don’t we have our willing sycophants in the mainstream media telling them that this “reform” is good for the children?!?
The reaction of the Democrat political class is at once laughable, predictable, and hypocritical. When a Bush was president, it was “patriotic” to “speak truth to power.” Now that Obama is in the White House, Senator Boxer says that “organized groups" are planning to "harm our President!” With AIG execs were being paid pursuant to their contract, liberals bussed agitators into the neighborhoods to stand on their front lawns. When Conservatives show up to voice opposition to an unconstitutional Federal power-grab, they are called “well-dressed Nazis” or “racists”, or more likely, both.
Even the White House is behaving like a Chicago thug, issuing a video clip calling accurate quotes from Barak Obama about ridding the nation of private insurance “fishy” and a “distortion.”
The direct quote from Barak Obama was as follows: ““I happen to be a proponent of a single payer universal health care program. I see no reason why the United States of America, the wealthiest country in the history of the world, spending 14 percent of its Gross National Product on health care cannot provide basic health insurance to everybody. And that’s what Jim is talking about when he says everybody in, nobody out. A single payer health care plan, a universal health care plan. And that’s what I’d like to see. But as all of you know, we may not get there immediately. Because first we have to take back the White House, we have to take back the Senate, and we have to take back the House.”
Clearly, this is at odds with both what Obama is saying about “choosing” your insurance, and at odds with the terms of the House bill Obama is pushing. But, apparently believing Obama means what he says and says what he means is a “distortion.”
Additionally, the White House, through Macon Phillips, the director of new media for Mr. Obama, also issued the following request for snitches: “Since we can’t keep track of all of them here at the White House, we’re asking for your help. If you get an e-mail or see something on the Web about health insurance reform that seems fishy, send it to flag@whitehouse.gov.”
Most hypercritical of all is that while Obama’s political allies are accusing some shadowy group of Republicans and evil insurance companies of paying people to show up to voice their displeasure at the unconstitutional Federal healthcare power grab, Obama is sending out emails to his ACORN buddies to get ready to mobilize to support Socialism.
What follows is an email to his activists sent by Barak Obama. I’ve included the whole thing so I cannot be accused of a distortion.
from President Barack Obama info@barackobama.com
reply-to info@barackobama.com
date Wed, Aug 5, 2009 at 10:21 AM
subject This is the moment
mailed-by bounce.bluestatedigital.com
This is the moment our movement was built for.
For one month, the fight for health insurance reform leaves the backrooms of Washington, D.C., and returns to communities across America. Throughout August, members of Congress are back home, where the hands they shake and the voices they hear will not belong to lobbyists, but to people like you.
Home is where we’re strongest. We didn’t win last year’s election together at a committee hearing in D.C. We won it on the doorsteps and the phone lines, at the softball games and the town meetings, and in every part of this great country where people gather to talk about what matters most. And if you’re willing to step up once again, that’s exactly where we’re going to win this historic campaign for the guaranteed, affordable health insurance that every American deserves.
There are those who profit from the status quo, or see this debate as a political game, and they will stop at nothing to block reform. They are filling the airwaves and the internet with outrageous falsehoods to scare people into opposing change. And some people, not surprisingly, are getting pretty nervous. So we’ve got to get out there, fight lies with truth, and set the record straight.
That’s why Organizing for America is putting together thousands of events this month where you can reach out to neighbors, show your support, and make certain your members of Congress know that you’re counting on them to act.
But these canvasses, town halls, and gatherings only make a difference if you turn up to knock on doors, share your views, and show your support. So here’s what I need from you:
Can you commit to join at least one event in your community this month?
In politics, there’s a rule that says when you ask people to get involved, always tell them it’ll be easy. Well, let’s be honest here: Passing comprehensive health insurance reform will not be easy. Every President since Harry Truman has talked about it, and the most powerful and experienced lobbyists in Washington stand in the way.
But every day we don’t act, Americans watch their premiums rise three times faster than wages, small businesses and families are pushed towards bankruptcy, and 14,000 people lose their coverage entirely. The cost of inaction is simply too much for the people of this nation to bear.
So yes, fixing this crisis will not be easy. Our opponents will attack us every day for daring to try. It will require time, and hard work, and there will be days when we don’t know if we have anything more to give. But there comes a moment when we all have to choose between doing what’s easy, and doing what’s right.
This is one of those times. And moments like this are what this movement was built for. So, are you ready?
Please commit now to taking at least one action in your community this month to build support for health insurance reform.
Let’s seize this moment and win this historic victory for our economy, our health and our families.
Thank you,
President Barack Obama
-end-
You know, this email from President Barak Obama looks fishy to me. I think I will send this on to the White House.
When a community organizer objects when a community organizes in opposition to his policies, that is pure, naked, unadulterated liberal hypocrisy --particularly when he is in fact organizing to support himself.
Obama has given marching orders to his ACORN minions and his Ministry of Truth lackeys Linda Douglass and Macon Phillips. Contrast that with Conservatives, who are independent, self-motivated, and aware. Conservatives do not need marching orders, trinkets, or payments to make their voices heard. The Tea Party Movement lives on. Liberty may yet be rescued. If not, the nation will surely fail.
Count de Monet: It is said that the people are revolting.
King Louis XVI: You said it! They stink on ice!
Watch the clip on Youtube: http://www.youtube.com/watch?v=TYpYs9GBXwY
Democrats have been participating in rent-a-mob politics for so long they believe any group of people that show up at a political meeting focused on a single issue MUST be organized by some puppet master, just as they play puppet master to their “constituents.” To a Washington liberal, it is beyond the realm of the possible that citizens – of their own volition -- might come to a town hall meeting or other public forum to challenge the permanent political class. The voting/tax-paying class is clearly not politically savvy enough to behave in such an effective manner! Don’t we have our willing sycophants in the mainstream media telling them that this “reform” is good for the children?!?
The reaction of the Democrat political class is at once laughable, predictable, and hypocritical. When a Bush was president, it was “patriotic” to “speak truth to power.” Now that Obama is in the White House, Senator Boxer says that “organized groups" are planning to "harm our President!” With AIG execs were being paid pursuant to their contract, liberals bussed agitators into the neighborhoods to stand on their front lawns. When Conservatives show up to voice opposition to an unconstitutional Federal power-grab, they are called “well-dressed Nazis” or “racists”, or more likely, both.
Even the White House is behaving like a Chicago thug, issuing a video clip calling accurate quotes from Barak Obama about ridding the nation of private insurance “fishy” and a “distortion.”
The direct quote from Barak Obama was as follows: ““I happen to be a proponent of a single payer universal health care program. I see no reason why the United States of America, the wealthiest country in the history of the world, spending 14 percent of its Gross National Product on health care cannot provide basic health insurance to everybody. And that’s what Jim is talking about when he says everybody in, nobody out. A single payer health care plan, a universal health care plan. And that’s what I’d like to see. But as all of you know, we may not get there immediately. Because first we have to take back the White House, we have to take back the Senate, and we have to take back the House.”
Clearly, this is at odds with both what Obama is saying about “choosing” your insurance, and at odds with the terms of the House bill Obama is pushing. But, apparently believing Obama means what he says and says what he means is a “distortion.”
Additionally, the White House, through Macon Phillips, the director of new media for Mr. Obama, also issued the following request for snitches: “Since we can’t keep track of all of them here at the White House, we’re asking for your help. If you get an e-mail or see something on the Web about health insurance reform that seems fishy, send it to flag@whitehouse.gov.”
Most hypercritical of all is that while Obama’s political allies are accusing some shadowy group of Republicans and evil insurance companies of paying people to show up to voice their displeasure at the unconstitutional Federal healthcare power grab, Obama is sending out emails to his ACORN buddies to get ready to mobilize to support Socialism.
What follows is an email to his activists sent by Barak Obama. I’ve included the whole thing so I cannot be accused of a distortion.
from President Barack Obama info@barackobama.com
reply-to info@barackobama.com
date Wed, Aug 5, 2009 at 10:21 AM
subject This is the moment
mailed-by bounce.bluestatedigital.com
This is the moment our movement was built for.
For one month, the fight for health insurance reform leaves the backrooms of Washington, D.C., and returns to communities across America. Throughout August, members of Congress are back home, where the hands they shake and the voices they hear will not belong to lobbyists, but to people like you.
Home is where we’re strongest. We didn’t win last year’s election together at a committee hearing in D.C. We won it on the doorsteps and the phone lines, at the softball games and the town meetings, and in every part of this great country where people gather to talk about what matters most. And if you’re willing to step up once again, that’s exactly where we’re going to win this historic campaign for the guaranteed, affordable health insurance that every American deserves.
There are those who profit from the status quo, or see this debate as a political game, and they will stop at nothing to block reform. They are filling the airwaves and the internet with outrageous falsehoods to scare people into opposing change. And some people, not surprisingly, are getting pretty nervous. So we’ve got to get out there, fight lies with truth, and set the record straight.
That’s why Organizing for America is putting together thousands of events this month where you can reach out to neighbors, show your support, and make certain your members of Congress know that you’re counting on them to act.
But these canvasses, town halls, and gatherings only make a difference if you turn up to knock on doors, share your views, and show your support. So here’s what I need from you:
Can you commit to join at least one event in your community this month?
In politics, there’s a rule that says when you ask people to get involved, always tell them it’ll be easy. Well, let’s be honest here: Passing comprehensive health insurance reform will not be easy. Every President since Harry Truman has talked about it, and the most powerful and experienced lobbyists in Washington stand in the way.
But every day we don’t act, Americans watch their premiums rise three times faster than wages, small businesses and families are pushed towards bankruptcy, and 14,000 people lose their coverage entirely. The cost of inaction is simply too much for the people of this nation to bear.
So yes, fixing this crisis will not be easy. Our opponents will attack us every day for daring to try. It will require time, and hard work, and there will be days when we don’t know if we have anything more to give. But there comes a moment when we all have to choose between doing what’s easy, and doing what’s right.
This is one of those times. And moments like this are what this movement was built for. So, are you ready?
Please commit now to taking at least one action in your community this month to build support for health insurance reform.
Let’s seize this moment and win this historic victory for our economy, our health and our families.
Thank you,
President Barack Obama
-end-
You know, this email from President Barak Obama looks fishy to me. I think I will send this on to the White House.
When a community organizer objects when a community organizes in opposition to his policies, that is pure, naked, unadulterated liberal hypocrisy --particularly when he is in fact organizing to support himself.
Obama has given marching orders to his ACORN minions and his Ministry of Truth lackeys Linda Douglass and Macon Phillips. Contrast that with Conservatives, who are independent, self-motivated, and aware. Conservatives do not need marching orders, trinkets, or payments to make their voices heard. The Tea Party Movement lives on. Liberty may yet be rescued. If not, the nation will surely fail.
Tuesday, June 2, 2009
One Socialist Taps Another To Spend Your Money
A Brazilian magazine claims that B. Hussein Obama has chosen socialist Brazilian president Luiz Inácio Lula da Silva to become the next chief of the World Bank.
Tuesday, May 19, 2009
GM to be Socialized; Taxpayers to be Fleeced
According to Obama administration sources today, B. Hussein Obama intends to use the bankruptcy courts and taxpayer money to buy GM for the UAW and GM bondholders.Is this the Hope and Change the nation was waiting for? Naked socialism, fleecing taxpayers, and paying off political cronies like the unions? Really? Is this what that nation wanted?
If Obama is allowed to steal the taxpayer's money like this, we owe Richard Nixon an apology.
If you support Obama’s administration, you are a Socialist. Period. A red, a commie, a pinko.
Some Memorial Day this will be. Obama and his supporters are completely devaluing the lives of all who fought and died to protect the world from the slavery of Socialism. Obama is urinating on the graves of tens of thousands of servicemen who gave their last and final measure of devotion to their country to stop the onslaught of Fascistic Socialism.
Obama is foisting it on the United States with a big, red bow.
Tuesday, March 24, 2009
Stalinist Quote of the Day
“We need resolution authority to go in and be able to change contracts, be able to change the business model....” White House press secretary Robert Gibbs explaining why Obama is seeking greater power to nationalize US Companies.
A "transformative" President must destroy all that came before him, including free market capitalism.
A "transformative" President must destroy all that came before him, including free market capitalism.
Monday, March 23, 2009
Geithner and Obama Fail Economics 101
Today, Treasury Secretary Timothy Geithner is proposing a new program that will allow banks and finance houses to sell upside-down mortgage-backed investments to a "private-public partnership" entity. In this deal, Geithner says that the private sector must take "risks." Of course, the public part of the "private-public partnership" is taxpayers.
Geithner must have failed Economics, or Geithner and Obama intend to blackmail the "private sector" and rip off taxpayers.
Banks can make loans only to the extent they have assets to back the loans. For years, banks made loans based on the present value of a bundle of mortgages. When the housing prices fell, the mortgages became less secure, and thus less valuable. As a result, the banks were losing asset value, and with their asset base value diminished, their ability to loan money was likewise diminished.
Geithner and Obama's proposed plan today has the stated goal of removing "toxic" assets off the books of the banks, so that they can start making loans again.
Here is the problem with that: the "toxic" assets are not valueless. Merely taking these assets off the books of the banks is not going to free up one nickel in available loan capital; in fact, it lowers it. The only way loanable capital is increased for these banks is if the “toxic” assets are purchased by this “private-public partnership” at greater than the present market value.
Do Obama and Geithner expect savvy private investors like hedge fund operators will pay greater than market value for “toxic” assets? Market value already factors in the “risk” Geithner wants the private investors to take, so who in their right mind would do so?
This might occur in two ways:
First, as a sweetener, the public part of the partnership - the taxpayers - could give interest-free loans to these private investors who would then purchase “toxic” assets. This means playing with house money and betting on the come. The assets may improve their value over time to cover or exceed the loan value, and if they don’t, you just bankrupt the entity receiving the loan and walk away. Either way, Geithner’s promotion to Treasury Secretary pays handsome dividends to his Wall Street buddies at the expense of the taxpayers.
Second, Obama could use the various regulatory arms of government to threaten/blackmail healthy financial institutions to purchase some of these toxic assets at greater than market value, and these institutions might do so chalking up the government shakedown as a cost of doing business.
While some of the first two options will undoubtedly occur, the biggest part of the “toxic” asset removal will be the third route: the public part of the “partnership” - the taxpayers - will buy the lion’s share of these bank assets. Thus Geithner and Obama (on your behalf, of course, since you don’t know how to spend your own money wisely) will own and control a solid hunk of the real estate market. And why would Obama seek to maximize that investment for the taxpayers when ACORN would like to use those houses for “underprivileged” families who just need a little hand up?
Under this plan, you would not just be paying other peoples’ mortgages; you would be buying their entire house for them.
Welcome to Obama’s Socialist Utopia.
Geithner must have failed Economics, or Geithner and Obama intend to blackmail the "private sector" and rip off taxpayers.
Banks can make loans only to the extent they have assets to back the loans. For years, banks made loans based on the present value of a bundle of mortgages. When the housing prices fell, the mortgages became less secure, and thus less valuable. As a result, the banks were losing asset value, and with their asset base value diminished, their ability to loan money was likewise diminished.
Geithner and Obama's proposed plan today has the stated goal of removing "toxic" assets off the books of the banks, so that they can start making loans again.
Here is the problem with that: the "toxic" assets are not valueless. Merely taking these assets off the books of the banks is not going to free up one nickel in available loan capital; in fact, it lowers it. The only way loanable capital is increased for these banks is if the “toxic” assets are purchased by this “private-public partnership” at greater than the present market value.
Do Obama and Geithner expect savvy private investors like hedge fund operators will pay greater than market value for “toxic” assets? Market value already factors in the “risk” Geithner wants the private investors to take, so who in their right mind would do so?
This might occur in two ways:
First, as a sweetener, the public part of the partnership - the taxpayers - could give interest-free loans to these private investors who would then purchase “toxic” assets. This means playing with house money and betting on the come. The assets may improve their value over time to cover or exceed the loan value, and if they don’t, you just bankrupt the entity receiving the loan and walk away. Either way, Geithner’s promotion to Treasury Secretary pays handsome dividends to his Wall Street buddies at the expense of the taxpayers.
Second, Obama could use the various regulatory arms of government to threaten/blackmail healthy financial institutions to purchase some of these toxic assets at greater than market value, and these institutions might do so chalking up the government shakedown as a cost of doing business.
While some of the first two options will undoubtedly occur, the biggest part of the “toxic” asset removal will be the third route: the public part of the “partnership” - the taxpayers - will buy the lion’s share of these bank assets. Thus Geithner and Obama (on your behalf, of course, since you don’t know how to spend your own money wisely) will own and control a solid hunk of the real estate market. And why would Obama seek to maximize that investment for the taxpayers when ACORN would like to use those houses for “underprivileged” families who just need a little hand up?
Under this plan, you would not just be paying other peoples’ mortgages; you would be buying their entire house for them.
Welcome to Obama’s Socialist Utopia.
Wednesday, October 1, 2008
Socialism on the March
I had no idea when I started this blog that we were just a few short months to the most naked socialist bailout of Democrat supporters who prospered and screwed up under the complete lack of Democrat oversight -- Wall Street financiers.
The 700 billion dollar bailout of these elitist Democrat donors on the backs of the middle class is naked, blatant, undemocratic, socialism of risk and loss. The bill foisted upon the American taxpayer by the politicial elite shall be the real damning legacy of President George W. Bush. Bush has been poorly served by his Secretary of the Treasury Henry Paulson, an unworth successor to Alexander Hamilton.
Where is the American leader who will stand up for free markets and personal/corporate responsibility? Where is the American leader who will prevent the raping of the middle class? Will the American public have the brains or fortitude to throw all these bums out of office?
The 700 billion dollar bailout of these elitist Democrat donors on the backs of the middle class is naked, blatant, undemocratic, socialism of risk and loss. The bill foisted upon the American taxpayer by the politicial elite shall be the real damning legacy of President George W. Bush. Bush has been poorly served by his Secretary of the Treasury Henry Paulson, an unworth successor to Alexander Hamilton.
Where is the American leader who will stand up for free markets and personal/corporate responsibility? Where is the American leader who will prevent the raping of the middle class? Will the American public have the brains or fortitude to throw all these bums out of office?
Saturday, June 21, 2008
Marxist Quote of the Day
We [the government] should own the [oil] refineries. Then we [the government] can control how much gets out into the market." -- Maurice Hinchey D-NY
Tuesday, June 10, 2008
Why this blog?
The year is 2008. It is becoming increasingly apparent to me that the combined forces of socialism in all its strains -- socialists, communists, environmentalists, anarchists, Democrats, "moderate" Republicans, RINOs, progressives, one-world advocates, regulators, single-payer medical plan advocates, newspaper conglomerates, elitists, Marxists, and empty-headed do-gooders of all stripes -- have reached a level of power in the United States that threatens the very fabric of this nation and the God-given liberties of its people.
These forces are no longer having the nation slouch towards more government control of our lives and the economy. These forces are now convinced that they can cause the nation to sprint towards the implementation of socialism in the United States.
The evidence of this is plain for all to see. This blog is to try to get all the evidence into one place so that citizens will be aware of the threat the forces of socialism pose to our nation. This nation defeated Communism in Europe, and now seems willing to impose it on ourselves.
But, Socialism cannot be imposed in the United States -- it is chosen. Most often, it is chosen because citizens are too concerned with other matters than to defeat socialists at the ballot box. Hopefully, Red Warning will be the alarm that wakes a sleeping citizenry into action.
We are past needing a Red Alert. This is a Red Warning.
These forces are no longer having the nation slouch towards more government control of our lives and the economy. These forces are now convinced that they can cause the nation to sprint towards the implementation of socialism in the United States.
The evidence of this is plain for all to see. This blog is to try to get all the evidence into one place so that citizens will be aware of the threat the forces of socialism pose to our nation. This nation defeated Communism in Europe, and now seems willing to impose it on ourselves.
But, Socialism cannot be imposed in the United States -- it is chosen. Most often, it is chosen because citizens are too concerned with other matters than to defeat socialists at the ballot box. Hopefully, Red Warning will be the alarm that wakes a sleeping citizenry into action.
We are past needing a Red Alert. This is a Red Warning.
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