Meanwhile, back at the ranch… Fitch Ratings said that there would be “no fiscal honeymoon” for President Obama, warning early Wednesday that the U.S. probably would lose its AAA credit rating if the White House and Congress don’t address looming tax increases, spending cuts and the fast-approaching debt ceiling. “The economic policy challenge facing the president is to put in place a credible deficit-reduction plan | Read More »
Americans often exude an apathetic attitude regarding the importance of elections. Many people feel as if their lives will be the same the day after the elections, irrespective of the outcome. As such, they are not enthusiastic about voting. Well, in this case, if Obama is reelected, our country will never again resemble the Constitutional Republic that it once was and should continue to be. | Read More »
If I wanted to be a political hack, I would tell you that this was a terrible jobs report because the unemployment rate rose .1% at a time when we are supposed to be experiencing only growth in the job market. However, the truth is that just like the past few reports which showed the U3 number declining were not good reports; this one is | Read More »
We have two different candidates who could win the US Presidential Election in six days. One claims that he favors “All of The Above” as an energy policy, but as you’ll see below, that comes with a caveat. The other candidate favors US Domestic Energy Independence as a method of economic revival. To determine which man is serious, look closely at how they react to the idea of reliance upon coal-fired energy.
Let’s say you saw the number one goal of the current US President is domestic energy independence or an all of the above energy policy. Would that include a major environmental regulation that threatened to take nearly 30KMW of electrical power generation offline in the immediate future? Would it involve specifically preventing mining and development of a major source of available domestic energy? If so, your candidate is already in office. The Hill describes the Obama Administration’s stance on coal energy below.
The Bureau of Economic Analysis published its report for 3rd quarter GDP and found that the economy is growing at a mediocre 2.0% rate, a slight improvement of the 1.3% growth in the 2nd quarter. Had we not experienced such a deep recession, this number would not concern us. However, in order to recover from such a deep recession we need consistent growth of 4% | Read More »
Irrespective of the outcome of this election, there must be no effort to pass major legislation during the lame duck session. We don’t need political suicide bombers who have nothing to lose deciding consequential issues immediately preceding their departure from Congress. As such, we must block any faux grand bargain during the post-election session. Unfortunately, it looks like we will have to contend with another | Read More »
In many respects, this country no longer looks like the American Republic that our parents and grandparents experienced. More than ever before, government is destroying private enterprise on the one hand, and offering permanent dependency on the other hand. With all the focus on big bird, binders, and the 47%, the most important figure is the $1.03 trillion – the cost of combined federal and | Read More »
The crazy-man speaks. Iranian President Mahmoud Ahmadinejad predictably rails against the E-vil Amerikan Empire. The really bizarre and frightening aspect of this particular harangue is the utter lack of deracination. This time, the Nut-Job can back his assertions with quantitative data. This time the crazy-man may not be so crazy. Ahmadinejad delivers what he hopes to be a japing eulogy below.
“How long can a government with a $16 trillion foreign debt remain a world power?” he asked at a press conference with Kuwaiti media personnel. “The Americans have injected their paper wealth into the world economy and today the aftermaths and negative effects of their pseudo-wealth have plagued them.”
To me, the Facebook IPO is a perfect metaphor for the Barack Obama Economy. It has the awesome sales-pitch. Everybody is excited and nobody had better dare talk it down. All the experts touted the cutting-edge science explaining why it was the best idea for the current situation. Then, we’ll let Christina Romer explain bluntly* what exactly happened next.
Maybe that Lasik Surgery I had a couple of years ago didn’t quite take. Maybe I just got shot in the face with a laser for nothing. I say that because I’m looking at both Louis Farrakhan and Paul Krugman and swear that the two men could be twins. OK, just kidding. The two men could be ideological twins. In fact, I respect Farrakhan more. At least when he hates your guts for being White and Middle Class, it comes from his heart and isn’t just his day job.
I notice the confluence between these two unlikely figures because each has recently taken to the media to express their despicable hate speech. Farrakhan, I reiterate, extemporaneously speaks his deracinated mind and from his shriveled heart and his iniquitous soul. Krugman, however, writes carefully. He selects his words to reflect the malice towards individuals like myself. He has pickled his views in this hatred the way Korean grocers prepare a jar full of Kim Chi.
We can statistically quantify “Too Big To Fail” in a number of different ways. George Will of the Washington Post is man familiar with the uses (and perhaps the nefarious uses) of quantitative data. He tells us 5 banks hold assets equal to 60% of the GDP. The top 10 banks hold 61% of all commercial banking assets; they only had 26% 20 years ago.
Will’s basically Conservative bent leads him to not be fond of the Dodd-Frank Act inflicted upon American Industry by the current Obama Regime. I certainly agree and sympathize with this point of view. However, not liking Dodd-Frank is one thing, getting rid of it and the systematic problems that made its overreach tenable is a taller order than merely quantified complaining. To actually dismantle the TBTF Empire and the implicit guarantee it enjoys via Dodd-Frank, it may help us to indulge in some Presidential History involving too great men. President Andrew Jackson foresaw and attempted to prevent this problem. President Theodore Roosevelt solved TBTF in some industries other than banking.
With its false attack on mine workers who support Mitt Romney, the Obama regime has increased its reputation as a petty, thin skinned ineptocracy who would resort to political thuggery if they could figure out how to do it.
Barack Obama has a new ad out letting us all know just how tough the job is and explaining that even though he has accomplished less than nothing it is vital that he be reelected. In the process he accomplishes a new first in the category of presidents.