The Dems don´t get it. The public understands this, which is why the GOP has a hard 41 votes to sustain a filibuster (assuming the Dem plan to gut the filibuster fails) and the GOP controls the U.S. House. The extent to which the Dems don´t get it on health care borders on pathological denial. There is one exception, of course. Senator Schumer of NY | Read More »
The following prediction analysis of possible future events was made in the Boston Phoenix by Steven Stark. Here is number one, on his five item list: 1. HOW DO OBAMA AND CONGRESS DEAL WITH THE STATE AND MUNICIPAL DEFAULT CRISIS? Another cliché: this is the ticking time bomb of our politics and economy. In the coming year, hundreds of cities and maybe even some states | Read More »
Since rising commodity prices generally do not occur in an economic downturn, when demand is low, it is logical to look to the Fed money printing as the reason for the two-year record high of oil, the rocketing food prices and the new record price for copper. The U.S. dollar used to be a reserve of value, where those holding dollars could reserve in the | Read More »
This city’s money printing machinery, in the form of bonds, seems to have seized up, and at least even the state paper is reporting the real reason for the insolvency: “The underlying, built-in problems in the city’s finances — with sizable operating budget deficits projected well into the future — require significantly changing how municipal employee contracts and retirement benefits are handled under state law, | Read More »
This is the story of another government guaranteed, debt-bomb waiting to explode with investor buying bonds from cities teetering on bankruptcy, because they believe the Fed will bail them out. Another Fed bailout — as in the Federal Reserve — will simply be another money printing exercise to bailout incompetent, corrupt city governments who are borrowing to fuel super-salaries of union workers in cities that | Read More »
In the midst of a global economic meltdown, Obama decides to push for the repeal of “don’t ask, don’t tell” to allow gays to openly be gay and serve in the military. This policy change was one of Obama’s top priorities — the other being the passage of the START treaty. Don’t ask don’t tell went down in flames yesterday in the U.S. Senate. And | Read More »
Remember how the House passed banking reform bill gave the Fed the authority for up to $4 trillion in new bailout funds, and how the provision was removed from the bill when it passed the Senate and was signed into law? Well, the $4 trillion figure is back — in the form of how much money the Fed needs to print: “Investors have been mulling | Read More »
Schumer, who handily won re-election this year, acknowledged the anger vented by tea partyers and others during the election but insisted that didn’t extend to upper-income tax cuts. Roll Call: Voters “did say ‘repeal health care,’ they did say ‘reduce the size of government.’ But not a single one of them from the tea party or anywhere said ‘give tax breaks to the wealthiest,’” Schumer | Read More »
American voters must really think the Democrats are terminally tone deaf. After mid-term elections that saw 86 House GOP freshmen come to town – and the Dems lose effective control of the U.S. Senate — The One decides to push his START treaty with Russia, and to push for the repeal Don’t Ask Don’t Tell. The arrogance of The One really knows no bounds. The | Read More »
The deficit commission has imploded. Under the Commission’s super-majority voting rules, the commission made recommendations that they themselves cannot agree to send to Congress and force an up or down vote. It is the Washington Establishment disease: we all agree we must do something about the deficit, but we are going to do absolutely nothing but talk about doing something about it. Looking at the | Read More »
At one point in the never-ending financial crisis, one in ten U.S. mortgage payments were late — I do not know what the figure is today. But the following, given the current financial climate among Americans, is a relief because the market is at least beginning to view U.S. government finances realistically. At least this market understands just how naive and dangerous those who think | Read More »
One of the most alarming things about Obama’s arrogance and vanity is that he believes he is right — all the time. This is what is the most disturbing about Eleanor Clift’s comment about “too much hero worship” around The One — since she is writing about it, you know things are really bad — as in it’s not just the bowing and scraping around | Read More »
Paul Krugman of the New York Times loves the idea of the Fed printing money, in fact, in normal Krugman fashion, he says $600 billion in money created out of thin air is too little money printing. He wants more. (Sarah Palin is against it.) The rest of the world’s economic powers from Germany, China, Brazil and others hate the idea and want the United | Read More »
Eleanor Clift is the dean of the liberal elite of Washington’s press corps. There is no debating her liberal street cred, none. So why is she writing that there is too much hero worship around The One, and that “if his aides weren’t so in love with him and wrapped up in the idea of him as a transformational president, they might have seen this | Read More »
The media, in the form of E.J. Dionne (who now wants everyone to ignore the two trillion the are Dems will spend from the Treasury on ObamaCare) who is now writing about how Republicans must balance the budget, or the others in the left-wing media who somehow think the public gives a “rat’s patootie” about the START agreement or that they can somehow intimidate the | Read More »
Excerpts from a great piece by Jon Markman, published by MarketWatch: The basic problem of QE is that it is not being honestly explained by Fed officials. They are trying to describe it as normal — one called it little more than a 75-basis point rate cut. The truth is that QE is the subprime of monetary policy. It’s a last-resort borrowing option with a | Read More »
When Obama defended the Fed’s money printing on his recent trip abroad, The One used the same language he used to describe his own efforts — to get the economy moving again. If that isn’t a clear signal that The One and Paul Krugman got their stimulus wish without having to go through Congress, I do not know what is. The GOP is beginning to | Read More »
Watching the 70-year-old-somethings who make up the members of the Democratic Leadership of the U.S. House is like watching the beginning of the end of the Soviet Politiburo — everyone of the old guard gets their turn, until change comes by them dying off. And, just like the Politiboro — they will never, ever leave voluntarily. Rep. Clyburn is just taking his cue not to | Read More »
“Hell hath no fury like a woman scorned.” And the voters are going to be on the receiving end of that fury when the Dems elect Pelosi Minority Leader. Too bad the Democrats do not have any man or any woman who can lead them out of the blunder they are about to commit. But voters and experts, operatives and Democratic card carrying members of | Read More »
Rep. Clyburn, the number three in the Democratic leadership has had his brain taken over by Orwell but instead of shouting WAR IS PEACE or 2 + 2 = 5 — he said Nancy Pelosi had nothing to do with the Democrats’ mid-term loses. When Clyburn and others say passing health care was the right thing to do — even though it cost us the | Read More »
![[RS]](/t/img/logo-footer.jpg){kind=logo}