Wednesday, April 29, 2009
Obama's 100th day of Christmas, Congress gave to me ...$7 trillion dollars of spending and a $13/week stimulus
$7 trillion dollars on the following:
$1.40 trillion for the bailouts (to corrupt CEO's)
$1.00 trillion for the stimulus
$0.45 trillion for the omnibus
$0.75 trillion for the IMF
$3.50 trillion for the budget
plus interest and inflation
***Increased federal deficits weaken the U.S. in global trade!!!***
China buy US treasuries to keep the Yuan valued lower than the US Dollar. Remember we have to sell treasuries to China to finance this debt.
Then the Federal Reserve is going to print the rest. Remember kids, the current account deficit with China is sinking the American Economic Ship. Just add massive weight with a federal deficit to push the boat under and we get a Titanic!
Clinton damaged the ship. Bush submerged the ship. Obama is making sure the ship sinks to the bottom.
$7 trillion in 100 days equals the following:
And we get a $13/week stimulus!!! I'd rather get coal in our stockings. But since the government is taking ownership of the atmosphere with this cap and trade policy, we won't be allowed to use coal to create energy and I can't afford the penalties so I'll take the $13/week "stimulus". Soon to disappear with inflation since the Bernanke Elf is busily printing wads of US Dollars.
I'm going to write about cap and trade issue in another blog.
Being late on your student loans will keep you from getting a job in the public sector. Since the Obamasanta is not concerned about encouraging a private sector to stay.
Infact, right after inauguration the banker elves were hiring for their derivatives' departments. This is the "end of the recession". No wealth creation, nothing stable. Just derivatives and another credit bubble to save the day!! And Real Estate values for a bit. The sneaky Treasury Secretary elf was hired for this cabinet position for a reason. We saw it from the very beginning.
Remember folks, the true measure of Real Estate volatility is going to be the Cost of Living Index. Shhhh! Don't tell the realtor "authority" elves and their "financial engineering" elves, they'll cook those numbers to make real estate look more expensive than it really is.
Slim Shady Obammy forgot to regulate the derivatives market. Oops! They just threw money at the criminals and set them up to commit fraud yet again. Santa is supposed to give the bad little boys and girls coal, while the good boys and girls are smart enough to figure out that Santa doesn't exist but want to keep what they earned in the first place.
Atlas has Shrugged. We're living in Orwellian times.
WHY THE MSM ELVES AREN'T REPORTING ON OBAMA's first 100 days of presidency...
53% Say Next President Likely To Be A Republican
tiny url com/cwjjo9
Support for Free Market Economy Up Seven Points Since December
tiny url com/desbfq
Presidential numbers (severely weak on the economic sector)
tiny url com/6e7ojb
58% Oppose Further Investigation of U.S. Torture Allegations
tiny url com/col7ya
58% Say Release of CIA Memos Endangers National Security
tiny url com/dboxns
Of Somali Pirates, Airforce One's flying by Lady Liberty, right winged "extremists" (so much for bipartisanship), more bailout bullsh*t, tea party slander and god knows what else... this has been a too interesting 100 days.
And the banks still have yet to start lending. Good grief!
Wednesday, April 22, 2009
"This (David Kellermann's death) is at least the fifth high-profile executive suicide in as many months..." David Kellermann is the CFO of Fannie Mae. Yes he worked under Franklin Raines, Obama's first choice for economic advisor prior to his "early retirement" when the institution went under investigation.
1. "In January, German billionaire investor Adolf Merckle, who lost a fortune in shorted Volkswagen stock, threw himself under a commuter train." (he was old, not broke or unhappy)
2."Patrick Rocca, an Irish property investor who lost millions when the real estate market bottomed out, waited until his wife took their children to school before he shot himself in the head." (I think that RE investors were well aware of the coming crash)
3. "Outside Chicago, real estate mogul Steven Good was found dead in his Jaguar, apparently from a self-inflicted gunshot wound." (I think that RE investors were well aware of the coming crash)
4. "And three days before Christmas, Rene-Thierry Magon de la Villehuchet killed himself in his 22nd-floor office in Manhattan. He'd lost his entire savings, and his clients' money, to Madoff's alleged Ponzi scheme."
I want to make a short comment about these deaths. I myself am not an 'insider', myself and a few other business grads could see at least a correction a few years back. The talking heads who predicted it should be commended for their honesty. The media isn't reporting the news, they're promoting and shaping public opinion.
If we knew what was going to happen, these high profile, high net worth powerful people with access to highly educated experts on the aforementioned subject material had to know that this collapse was coming.
I am not one of those people. Through professional experience, I have rubbed shoulders with the like. Please allow me to reiterate on how these people "suffer".
These people "suffer" commercial airlines. They "suffer" expensive taxis.
They "suffer" by going to a less than top notch resort on a getaway. They "suffer" public education, or public anything.
They have the highest quality of healthcare money can buy, psychiatrists, therapists. They spend quite a bit to protect their health. They're pets get better healthcare than many people in the United States. They live in gated communities, where their homes and their families are protected by the best security systems. It's very difficult to imagine that these (probable) narcissists would choose to suffer gunshot wounds or being hit by a train if they can't suffer a taxi.
So, with that being said. What did they know and when did they know it? There are other upcoming risks due to the recent collapse, concerning badly funded Title insurances, etc. Anyone who kept up thus far with the financial collapse is probably suspicious of these events.
Oh there have been other murder suicides with people who are suffering real hardships (like homelessness or the threat of it)becuase of the crash. Then there was that one other realtor guy who faked his death during a pending divorce after he lost everything in the recent crash. These are not suspicious.
My sympathies goes out to the family of David Kellerman and to his 5 year old daughter who won't have a father to raise her.
This week, a girl i knew from high school passed on. She left long before her time because of an accident. The gal had a knack for keeping it real and she is leaving behind broken hearts. The unwanted knews leaves us in shock since we often refuse to acknowledge our morality and the permanent seperation between people.
Not money or anything will bring anybody back. Is a murder worth it? What is a human life worth? Is hate, alienation or inflicting misery on someone else worth a few extra dollars? The money will remain on this green earth when we leave it.
Sunday, April 19, 2009
News sources often smear public figures, such as a politicians, experts or other talking heads that represent opposition to gain insight on a news story.
Smearing private individuals by media outlets cause intentional harm and damage, not to mention completely it's completely irrelevant to the topic.
Susan Roesgen of CNN took her anger at Fox News and berated demonstrators in the smear attempt.
She antagonized two men, one holding a sign depicting Obama as Hitler and the other holding his 2 year old child at the Chicago Tea Party (I posted a video clip of the interviews below).
Are they any dumber than the people who attended Obama rallies? They're not expert historians, CEO's, politicians, public relations experts or the like. They're just regular people exercising their 1st Amendment Rights.
Did these protestors sell fraudulent derivatives? Did they sell bad ARM loans? Did they bankrupt GM or Goldman Sachs?
Why did this crazy lady feel the need to lash out at them, nothing they did provoked her hysteria or caused her harm in any way.
The concerning part is that Obama on some level is using taxpayer dollars to sponsor this type of coverage. It is wierd is that Obama is using taxpayer dollars to control banks, industries and the states. At this point, I am convinced that he is a facist, but that's another blog.
Susan Roesgen of CNN isnt' the only one on the hotspot this week. Honorary mentions also include Janine Garofalo and Anderson Cooper. And since when did Arianna Huffington become a socialist? How credible is she when she portrays schitzophrenic views on the economy. What is going on with Hollywood and the Media? Are they expecting or did they receive a healthy paycheck for doing this? It's wierd.
Almost a million people came out during a workday to protest the bailouts and the recent policies. And I'm happy that so many people did. With the internet people can do a bit of citizen journalism and get a more accurate story on the event. A million "radical" protest resulted in no violence, no vandalism, no riots, no fights... apparently the MSM was upset that they couldn't hide it. I uploaded videos and added Youtube links to demostrate the intentional libel and slander by these "news sources".
Susan Roesgen of CNN needs to be fired.
What CNN didn't show you, behind the scenes.
Susan Roesgen thinks that Obama Hitler bad but Bush Hitler is good
The recently indoctrined Obama Defense League spokesperson Collectivist Janine Garofalo on Countdown with Keith Olbermann.
She discriminates against Tea Party Protestors and generalizes them on "behalf of civil rights". It's good of her to acknoweldge the severity of the global economic problems and to empathize victims before she stirs more melodrama. This is a prime example of how not to make friends and influence people. I have a lot of unkind things to say about her which I will leave out. She is a narcissist with no true insight or knowledge to the Tea Parties, history, economics, finance, business or anything worthwhile.
On that note, I'm biracial just like Obama. The racecard is played out.
I'm just posting youtube links from here.
In this one, dirtbag Anderson Cooper ridicules the Tea Parties.
On a different note: the youtube links show what really went on at the Tea Parties.
The Booing of Republican South Carolina Congressman Barrett for signing the bailout.
Tea Parties: the Unsilent Majorities in:
5000 showed up to Cincinatti Ohio
Dover New Hampshire
Port St. Lucie Florida
Van Nuys (quite outspoken)
crazy rednecks in San Francisco
Washington D.C. (they threw a box of tea over the Whitehouse fence and had guards roaming the streets)
Tea PArty the Big Apple, of course documented by a woman who calls herself "Atlas Shrugged"
Saturday, April 18, 2009
In my lifetime, politicians have only proved themselves to be nothing more than a pain in the ass. Please allow me to count the ways. Politicians have been so kind to confuse Free Market Economics as collective anarchy which led to deregulation mess and a massive trade deficit. Then to remedy this, they enact these stimulus’s to move the markets. All the markets do is move; they don’t improve because even Keynes said himself that it doesn’t work with a trade deficit. Regardless of what economic model any country goes by, the breakeven point will always determine the success of that economy. And the trade deficit eliminated any growth the dot com sector could come up with, as we found out after the dot com busted. Then politicians are kind enough to spend even more tax dollars to nationalize everything from banks, industries to states to “save the economy”. Does anyone else smell fascism here? Since the idiots in office are pushing for another derivative market, they’re going to attempt to stimulate the economy by increasing the home values again to salvage speculator losses.
For many young adults, we’re screwed. The private sector will not be providing labor or salaries, there’s not much left to pay for the public sector. The real estate market will be unaffordable and salaries down. Sorry, but the public sector isn’t exactly supplying the fruitful salaries required to afford real estate inflated with the derivative sponsored ARM loans. Then add increasing taxes and inflation and we’re screwed.
The dot com sector worked out so well because it was the initial breakthrough of information technology to the main markets. Energy is much riskier. The trouble with energy is that it was monopolized. Alternatives should already have been on the markets. The only trouble is that this is more expensive and we’re in an economic recession. I’m not super sure why these things have to be sponsored by the taxpayers when they could be funded by investors.
Bill Gates is an eco-nut. He loves this stuff. Bill Gates is so eco-friendly that this former richest man in the world lives in a molehill. Why was he heavily vested in Berkshire Hathaway and not solar companies? Why does our current adminstration feel as if it must impose a cap and trade policy which would hurt bystandards aka. employees?
People put their money where their mouth is.
Since I’m sure he sponsors liberal sentiment across this country, or on the west coast. He didn’t get where he’s at by being a “compassionate” liberal. He loves money even more than the next guy which is why he has more of it. But he panders to socialist ideologues because he doesn’t care if anyone else has access to money.
I understand that investors want to keep their money “safe” but they’re willing to gamble like they did during the dot com days.
To me, liberals are the 8th wonder of the world. I was one until my Junior Year in College. Then I retorted back to my liberal ways of thinking until I moved to San Francisco. It was then when I realized that I was a warmongering, moose hunting, Bush loving Republican.
Okay, I was just a little turned off by the never-ending Obama propaganda machine. Well, I was so turned off by the never-ending propaganda machine that I was ready to vote for Bush’s 3rd term. And I hated George W. Bush.
But liberals. They want bigger government. They’re collectivists. I’m biracial. My sole existence is the opposite of collectivism. No one biracial can cling to one group or another. We couldn’t hang out with either of our origins entirely based purely on race. I was never one or the other. We could only hang out with others who identified themselevs as individuals. And this is where I fail to identify with Obama as a biracial American.
Aside from liberals being a collectivist minded, see my 2nd paragraph. I have always found politicians to be nothing more than a royal pain in the ass. Why do I want a bigger government?
Liberals must have absolutely empty lives if they want to consume it entirely with politics. Because if we increased the government even more, they’re going to be the permanent bug up our asses with a freshly engineered version of bullshit every day. There is no good vs. bad politician, they’re all narcissists. One might be smarter than the other. We’re going to be taxed for every coffee bean, god knows what else. Congress imposed a cow fart tax. Excuse me, what the @#$! is that?
And liberals are not the smart they want us to believe. Actually politics isn't rocket science, it just becomes a mess when politically minded people are expected to deal with difficult substances such as financial engineering. But that's besides the point. Educating people or expecting them to respect your opinion in a political mudslinging event is really not the best way to gain knoweledge and yes, people look incredibly confused for doing so.
I don’t care how “enlightened” anyone is with a degree in sociology but you can't be respected intellectually you blame Adam Smith for selling unsecured, fraudulent derivatives. Adam Smith never promoted anarchy, which liberals confuse the free markets as. Without capitalism, these liberals wouldn’t have easy access to yoga mats in the nearest eco-capitalist Whole Foods, the Trader Joes for competitively priced foods, your Mac books, IPods and every other items they indulge themselves in…get real people!
Liberals are screaming politics non-stop all day every day without remorse with empty rhetoric. Are they still screaming at any republican for voting for Bush? I didn’t vote for Bush once, however the republicans who voted for Bush in 2000 and 2004 felt as if he were the lesser of two evils.
And lastly, the reason why I brought up this discussion on liberals is because of their obsession with the Tea Parties. Are we not suffering from the same economy? Anyone who panders to politicians before they pander to the needs of the people are just as corrupt as the politicians themselves.
And since we’re on the topic of redneck bashing, I’m greatly disappointed that Janine Garofalo has turned into white trash. Her daddy was an oil exec; she’s projecting her daddy issues at bystanders in a hurtful way. Here she is flaunting her ignorance on the subject, spreading libel and slander against a group of people who didn't cause the bad economy. Susan Roesgan is another disappointment.
I’m sorry, why are these turkeys prioritizing politicians ahead of people? And why are these liberal talking heads attacking people instead of public figures Fox News and Republican politicians? I have never witness a lack of class like this ever in my life. Well except for the smears on Joe the Plumber, Govenor Palin's family and so forth.
And on that note, if liberals are so concerned about racism, one might note that racism thrives and dictators gain power in bad economies. See segregation, the Chinese exclusion Act, Hitler gained fame though a wartorn Germany, Moussolini had a bad economy to pimp, so did Mao.
With socialism, how do you hold your politicians accountable for their spending? You can’t and they won’t. They will lose that democracy. I understand people worship power through politicians; ironically these are the same politicians that take power away from us.
Liberals have displayed this needy obsessive nature by shoving Obama down my throat on Facebook, at work and in my sleep and waking life during the campaign. Sorry, unlike liberals I'd rather not deal with the melodrama 24/7. I'm only dealing with it now because in my personal life I am forced to. Why do I have to care about Palin's family? Can't they have any privacy? Why can't I be left alone about the irrelevant krap?
Seriously. I work. I play. I cook. I work out. I have to watch classic disney cartoons if I want entertainment. I watch sports. I go out of town on occasion. Sometimes i want to see the news without this garbage. There's no more private sector to create markets. We're stuck until this volatility settles down. And it won't because Obama has to run everything and everything is now stuck on his whims because he now has strings attached to everything from the banks to the states and the public sector on our taxdollars and media continues to force worship. Must we still be hearing the liberals play the racecard and bash Palin's handicapped baby?
Heaven forbid any American should decry excessive government spending and unconstitutional bailouts on the taxpayer dollar!!! I don’t care what color their skin is, I don’t care if they were born with a silver spoon in their mouths or not. They have every right to be upset with this government. Our Congress included. The liberals just showed me in every way that they have no sincere interest in a better economy. I honestly don’t know what they want, I don’t think many know either.
The tea parties were also decried by a few Ron Paul supporters who whined about how the true Tea Parties were hijacked. This isn’t’ exactly the attitude that will get Ron Paul elected for POTUS if that should ever become mathematically possible.
The tea parties were a bittersweet event. Obama finally declared that he was going to cut spending, we will see how that turns out. Unfortunately with the added drama courtesy of useless political opposition, this has become only a bittersweet event.
Actually it was a really nice break to see so many Americans go out and show their love for their country instead of hearing people bash our country to the world. I unfortunately couldn’t attend on the big tax day because I had obligations however I did make it to another one last Saturday.
It was a demonstration that resembled any 4th of July fiesta, but you had to go and see it for yourself. The American media except for Fox news failed to give it a fair representation. Local vendors donated speakers and balloons. It was held outside of a courthouse. Most of them were. A few cops were there to prevent any trouble. There were young adults such as myself present, a few families, children, dogs and seniors there.
I saw a few “I am John Galt” signs. I also saw a few “Don’t tread on me” flags. Honestly, most of the people there were boycotting the spending, especially the bailouts.
I call it a success. Not because Obama said that he'd cut spending. But because during a workday about a million people went out and made sure the MSM and politicians could no longer hide our dissent. Without vandalism, without violence, without riots, hate, or problems; the world finally got to see us.
Tuesday, April 14, 2009
Before I go on; it needs to be said. Free Market Capitalism works with individualism, not collectivism. If anyone is familiar with Ayn Rand, the "origional libertarian" she is an objectivist libertarian. Libertarian party holds somewhat of a collective anarchy ideologue to their political stance. This runs a little deeper than taxes or just the two party system. Our far right have pushed anarchy in the forms of deregulation. The individualists, including Ayn Rand will admit that a Free Market needs to be regulated objectively. Some might call that common sense. It also convinces me that Ayn Rand is more relevant than anyone suspected, and cleverly so.
ABOUT ARIANNA HUFFINGTON
Regardless, back to Ms. Huffington of the Huffington Post. In her diatribes, she irrelevantely blames Adam Smith for writing unsecured derivatives; thus making a fool of her self and Columbia University, the institution where she "earned" her masters in Economics. Not only that, she purposely misinforms the public, probably for her own profit motive and i see a lack of jounalistic integrity. I am convince that she does not comprehend how the fundamentals of economics works. She can do a lot of good as a left winged commentator on economics, there is plenty that she should be critiquing the right for. See the anarchy vs. objective regulation argument.
Fraud happens in any system. Socialism increases government control. This is dangerous when infact it was our government that deregulated the markets and socialized the banks only at their convenience to protect their campaign contributors. \
Regardless, I dared Arianna Huffington to sacrifice EVERYTHING she has benefited from on behalf of the "evil" capitalist system. Let's start out with her pick in primary care physicians. Her choice of insurance plants. Her Real Estate investments. Her competative mortgage brokers. Her competative financial advisors. Her competative assistants. Her competative salaries. The capitalist market in which she can sell her journalism and books. The vast varieties and competative selection of Universities. Trader Joes, Smart and Final and grociers that can compete for lower prices. Her Blackberry, another product of the "evil" capitalist system. Her computer, her webcam/softwares/etc., her competative banking products, the formula for the dye in her hair, her prescriptions, her over the counter medicines, her online travel agent...honestly if it were not for capitalism Arianna wouldn't have the life she has today.
Look at her actions, not her words alone. Anyone who knowingly blames the system and not the criminals (the bankers who sold fraudulent derivatives) is an accomplice to their crimes. And yes, they're like Jesse Owens bragging about winning the Special Olympics. It's so remedial that it's quite embarrassing. And yes, I'm referring to Mr. Krugman.
TAX PAYERS HAVE EVERY RIGHT TO BE ANGRY
American citizens already pay $1.34 trillion dollars in income taxes while banks pay a measely $300 billion. But all they have to do is bribe the politicians directly in order to take over the markets in their favor, at our expense. This is called corruption, it will happen again in either a capitalist or a socialist government and it requires a different solution.
Most protestors you will see on the news tomorrow will be calling out the spending done by our government. This is the result of the bailout which only started at the end of the Bush presidency. This is neither the fault of the left or the right but by both parties. Then to Obama who promised to fix things. Instead he spent $7 trillion dollars in less than 3 months.
It would be irrational, irrelevant and wrong to blame the left for Obama's spending. They have no control over what he does once he is elected into office. I only want to ding them over the head with a doubled up lead induced Nerf tube.
Not to hurt anyone, just to get my frusterations out. And the left; with their Ipods vending machines, Macbooks, IPhones, blackberries, cellular phones, competative cable providers, trader joe shopping eco-capitalists.... have absolutely no idea what they're talking about when they preach the "Evils" of capitalism in pollution when they drive around in a gas guzzler with a "save Tahoe" sticker on the bumper. People are silly. Who would you rather be in charge of your personal finances? You or Nancy Pelosi and the plight of 500 million jobs? Most people are picky with their bankers or food servers if that.
Be careful what you wish for.
TO LIBERALS AND LIBERTARIANS- STOP BASHING YOUR MOTHER (COUNTRY)!!!
And again, I'm also fed up with both liberals and libertarians bashing America. Absolutely fed up! Our tax dollars have provided aid all over the world. Those military people sailing the world provide a lot of medical attention to people in impovershed countries. At the G-20 summit meeting, we gave $700 billion dollars to the IMF (kicking and screaming). Americans is a country of immigrants, a refuge. Of course we prefer civility, but we want it done LEGALLY. The US consumes goods from all over the world as we share our innovations throught out. The recent globalization is going to come with serious hiccups. The WTO being one of them. It's rediculous to not see that coming. Not only do we break our banks by buying imports from the world, we also pay a lot of interest on them too!
Look at the world.
After the innovation of electricity, modern medicine, transportation and the age of information technology; less than a century later the world experiences an increase in the quality of life.
The liberals and libertarians' tactic of America bashing is turning a deaf ear. Yes we have problems. But you're killing the good and missing the bad.
Isn't it better to come up with constructive ideas on how to fix something than constantly berating it to the world? What gangsta rapper bags his crew to everyone else? He chose to be a part of that gang, he has to take pride in his choice.
What Pro-athlete bashes his own team to the conference? Does anyone see how rediculous taht is?
Americans are unhappy with the way our country is run, however I am an American and I need to do my part in fixing the problem. The first step is to acknowledge the problem. That's where the protests, the vlogging and the blogging comes in. People everywhere are trying something.
Americans are not on the same page. Typically liberals and republicans are seeking different outcomes to a situation. But we should be able to agree on what the problem is. Right now, we're not even on the same page. The left prefers a socialism as a solution but they mistaken capitalism as the culprit of the banking collapse. Again, they're blaming an individualistic system that was not in place when the incident occured. The right prefers more freedom and more freedom from taxation. But then again, the far, far right blames the Federal Reserve for Congress' compulsive spending habits. Ron Paul is a nice guy but he isn't pulling it together.
Politicians can't be trusted to educate anyone on economics. I encourage everyone to take basic economics courses if it is at all possible, before hearing the spin from either side. Coursework will help people verbalize their own stance on the issues.
To fix our country, to carry out a righteous revolution; the people must identify their own stance for themselves. If you reap the rewards and responsibility for your actions, wouldn't it be right that you make your own choices in life?
If you don't stand for something, you'll fall for anything.
THOUGHTS ABOUT LIBERALS WHO BASH THE TEA PARTY.
I'm also encouraging libertarians, republicans and centrist republicans such as myself to embrace the left during the protests. Libertarians are happy to patronize the conservative movement with leftist tactics (ie. drug policy, anti-war stance, spending, etc.)This will prove to be slightly difficult, however it would be the right thing to do.
Lovely Ms. Huffington and other goofy hacks and shills; including Mr. Krugman are making a big stink about the tea parties; calling the far right "radicals". There are even rumors about the FBI going around scapegoating the protestors at these Tea Parties; witchhunting for radicals. If you've been living in a cave or out of the country, libertarians or the "far right" have been unfairly called "terrorists" by the Obama administration.
We're in this together.
Sunday, April 5, 2009
As I've mentioned before, the stimulus is a Keynesian concept (not free market capitalism since it requires the intervention of the government to 'speed up' recovery) and even Keynes said himself that it doens't work with a trade deficit. Obama just spent $7 TRILLION DOLLARS which are only going to produce watered down results at best if he doesn't address macroeconomic conditions affecting our country.
American presidents have often made this mistake, the remedies are often confused with socialism vs. cash inflow. I'm not sure why, at this point the confusion may be done on purpose for the short term gains of a few.
If there is no cash inflow, then the spending will create a burden and weaken the dollars.
My first example will be Bill Clinton. The stimulus was the dawning of the dot com sector in the 90's, well really with a surplus of venture capital and that Gore Bill (Gore did help create the internet). Gore authored the The High Performance Computing and Communication Act of 1991 which led way to the development of the tech sector.
"The Act led to the development of the National Research and Education Network (NREN) (which was referred to with the rhetoric of the Information Superhighway). It also led to the development of the National Information Infrastructure (also discussed through the rhetoric of the Information Superhighway), the High-Performance Computing and Communications Initiative (an off-shoot of the HPCA), the web browser Mosaic, and the creation of a high-speed fiber optic network that, when utilized, would help stimulate the economy."
I myself will argue that the dot com sector produced real wealth and the bubble was only a bubble due to the outflow of cash from our country.
The dot com sector produces maybe $200 billion/year? I couldn't get the information whether or not it was a net or a gross revenue. That probably doesn't include the cost of outsourcing production and offshoring jobs which would eat away at that profit. It doesn't count the opportnity cost of counterfeiting. Since Clinton signed NAFTA with China, the US gave China often $100 billion/year in a surplus as they enacted protectionist policies against the U.S. The trade deficit grew to $400 billion plus interest payables (totalling the current account deficit) before he left office.
It's unrealistic to expect the dot com sector to compensate for the expenditure of money from our country. This was before Bush's war in Iraq.
The next stimulus that failed was the Bush tax cuts. His tax cuts led an increase in both prices in real estate and gas and the extensive use of credit. Bush at least tried to market steel to china and beef to Korea. The asian continent has followed in Japan's footsteps and have always been protective against US goods. Of course the WTO backed China's protectionist policies against the U.S. Again in 2003 before the War in Iraq. Of course Korea wanted to be status quo and rejected U.S. Beef through protests.
It's not a suprise that Bush's stimulus was a flop. He gave it a good go, the real estate bust was another failed stimulus. The derivative/credit markets were supposed to circulate and never run out; by plan. The real estate market was a deep, volatile bubble; the latter which is a more critical problem. Yet the real estate gains will always depend on the stability of the job market.
Which again points to the
Then the argument of the New Deal, or FDR's stimulus that hacks want to argue for political reasons only got us out of the Great Depression. Others want to argue that WWII got America out of the depression. The Smoot Hawley Act was America's protectionist trade policy that was not popular since Post WWI our leaders . It was written in 1930, after the Great Crash of 1929 and in response to a weakened job market post WWI. Exports from Europe declined 75% and factory jobs and international trade decreased 60%.
Again this wasn't popular, many economists subscribe to the school of monetary policy instead of addressing what's on the bottom line. I beg to differ, I believe that the trade deficits affect the bottom line and monetary policy is an exaggerated marginal policy.
I have yet to see any arguement based on reality depicting how the protectionist policy killed our economy, if the devil is in the details a status quo blanket should not be the basis of the arguement when status quo can't see the forest for the trees.
Especially when China's protectionist policies against the US (who gave them most of their surplus) and Japan's protectionist policies against the US have strengthened their economies.
European countries and Canada subscribe to the fair trade policies with the US and made good of their word. Unfortuantely, the World Trade Organization has not worked to help the U.S. who did not deserve protectionist policies placed against our goods.
If Obama was the president who is supposed to "reestablish America's reputation throughout the world", He would make a better president by addressing the problems the US suffered because of the World Trade Organization. Personally, if i were in his position I would take the U.S. out of the WTO on a breach of trust and stop spending. The more we spend, the more incentive we have to sell treasuries to China. China buys US treasuries to keep the value of the Yuan lower than the USD. If I were president right now, I would boycott any pork that Pelosi adds to these bills, there would be no pork, earmarks, no bailouts, no market manipulation (that costs us taxpayers money), the stimulus would go down 75% and every effort would be made to keep taxes low and to balance the budget.
The US is not new to global affairs, Asia is. We believe in a free trade (v.s. a "fair trade") policy, which only works with other free trade or fair trade countries. Implementing "free trade" vs. a country who has imposed a trade war against the U.S. is not free trade. Americans are too defenseless against this multinational abuse, thus this is not the result of a free market. It's the result of abuse. We can't reiterate enough that the protectionist policies against Americans should not it be confused for a free market.
I spoke against Obama's supporters. I'm a centrist republican and I totally adored my Hillary Clinton supporting cohorts during the election. I voted for the primaries in San Francisco. The guy at the voting booth showed me the list of voters and I was the only voter out of thousands that was registered as a Republican. On that note, Hillary Clinton won the California primaries by a landslide. If we got rid of the electoral college, she would have won the primaries. I think she was robbed. But I mentioned that to reiterate my point. Many democrat centrists, those that favor Clintonites are typically fiscally concious and yes, they care about the federal deficit.
Blaming Bush at this point is only a Red Herring. Bush is no longer president.
Again, Bush is no longer president.
Let's say it together. Bush is no longer president.
We're stuck at war. And Bush "only" spent $5 trillion dollars on the War in Iraq, in 5 years. Obama spent $7 trillion dollars on pork barrells, earmarks and Pelosi's pet projects in the last 3 months. I don't know how any fiscally conscious American can not be concerned about Obama's spending at this point.
Never in my life have I felt the approach of a panic attack when approached by flocks of Obama supporters, the severe wingnuts that incite wolfpack mentalities based on economic illiteracy, emotional blackmail, irrationality and fallacies that would put the Neocon pack to shame. Typically I'm that republican who avoids politics like the plague, I believe in a smaller government and reduced taxes. Never have I celebrated a president. Less is always better. I find doctors to be more valuable to our society.
I never once voted for Bush, nor can i defend him since he increased government.
Obama is at best a gesture, a symbol to America like the Queen of England is a symbol to the UK. obama represents to the world that Americans are a tolerant bunch. Not that being a melting pot with overrepresented minorities for over a century meant anything. However,
Obama is a gesture. A figure.
Ironically Obama implements spending that may bankrupt our country. As we all know racism is more rampant in bad economies.
Ironically Obama represents the "Beacon of Hope and Opportunity to the World". With the diminishing private sector, we are actually losing that "Beacon of Hope and Opportunity" under his presidency.
But never was I so incensed at any one politician than I am at Obama. For no other reason the spending and for the obnoxious melodrama making light of our economy during his campaign.
May his daughters pay the same taxes that our non-existant children will be forced to pay on behalf of his special interest, his campaign contributors and to bail out his criminal banker friends.
Friday, April 3, 2009
"By Dominique Moïsi
Published: April 2 2009 18:13 Last updated: April 2 2009 18:13
“Eat the wealthy.” The ferocity of the words used by some demonstrators in London on the eve of the Group of 20 summit evokes the worst excesses of the French revolution. Anti-capitalist anger in the west is not confined to Europe. Alexis de Tocqueville’s The Ancien Régime and the Revolution is as relevant to understanding today’s America as his deep and eye-opening thoughts on the young American republic in his Democracy in America.
Of course, America in 2009 is not France in 1788, the year before the fall of the Bastille (the prison that embodied the oppressive nature of the monarchical regime) and the symbolic beginning of the French revolution. The fall of Lehman Brothers in September 2008 has nothing to do with the fall of the Bastille; symbols of wealth should not be confused with symbols of oppression. There is no guillotine around the corner and it would take a lot of imagination to compare President Barack Obama to Louis XVI, or Michelle Obama to Marie-Antoinette.
Yet as a European living in America – watching news on television every night, talking to friends, colleagues or my students – I sense fear, anger and a deep feeling of injustice reminiscent of the climate on the eve of the French revolution. Just replace bread shortages with foreclosures, aristocrats with bankers, and privileges such as the right not to pay tax with stock options. Add to that support for the king but rejection of many of his ministers, and the comparison looks less far-fetched.
The explosion of populist rage that has accompanied the AIG scandal, amplified by an opportunistic Congress and by media that play to the tune of their audiences when not reinforcing their passions, reflects the depth of suffering in the US. Main Street, like much of France at the end of the 18th century, is outraged. Fear for its own present and future is combined with anger at those it considers responsible, and who are much less affected than they. Are not senior bankers today like the aristocrats of yesterday, their privileges no longer justified by their social functions – to serve the king with their swords or to contribute to the creation and dissemination of wealth?
The problem with the economic team of the new president is that, like the court of the king of France in pre-revolutionary times, it has inherited all the bad reflexes of the ancien régime, mixing excessive sympathy for the outdated logic of the world of finance, which it helped to create, with insensitivity to the emotions of the ordinary people, which it tends to ignore. This sympathy is perceived to contrast with the harsh treatment of carmakers.
Bankers and financiers have to reinvent not only their trade but also their way of life and, above all, their value system. In the Madoff scandal, just as shocking as the crime of an individual was the behaviour of many of his rich customers, who combined greed with a lack of financial common sense.
An interesting incident was reported by CNN last week. A group of protesters – very few, to be honest – rented a bus in Connecticut and stopped in front of the mansions of AIG executives to express support for those who had returned their bonuses and outrage against those who had not and were still living in grand style, in contrast with the many more who had lost nearly everything.
The greed of some was tolerated as long as most of society continued to progress. But today’s combination of fear and humiliation with a deep sense of injustice leads to anger that is potentially irrepressible. The strength of the American republic has been bolstered by the popularity of its new president. This capital should not be squandered on reliance on a media-savvy communication culture. As can be seen so often in history, less is more. The president of the US simply speaks too much.
Revolution is not around the corner; at least, not in America. But there are lessons Mr Obama can learn from the French king’s failure to manage dissent. He must not fall prey to populism. His goal is to save the economy, not punish the bankers. (note: allow the shareholders to prosecute them- STOP PROTECTING THEM!!)At the same time, he must not be seen to have too much sympathy for the world of finance and its excesses or to cut himself off from the suffering of his people. If he fails, the corporate laws of today will face the same fate as the ancien régime rights of yesterday.
World leaders’ agreements, substantive or superficial, will not suffice. It is the trust of their respective citizens, translated into hope and confidence, that will make the difference.
The writer is a visiting professor at Harvard University and author of the forthcoming The Geopolitics of Emotion
Copyright The Financial Times Limited 2009"
Supposedly a $1 trillion dollar was spent to prop up "poorer countries". Like always, the theft entailed no transparancy. Today a $3 trillion dollar "budget" was passed. Budget is a contradictory term, Congress cannot budget to save their lives. But Obama just threw taxpayer money at the international community to seek power, and to make us look like "humanitarians".
Obama made a deep bow at the Sheik and kissed his ring, he is obviously more concerned with "relations" in the middle east than he is in the plight of the taxpayers(I believe he was funded by Saudi Arabia during his campaign). Tent cities are up in Ontario and Sacremento California. Obama ran for president, it's his job to deal with this.
The United States of America is BANKRUPT!
STOP SPENDING OUR MONEY OBAMA!
The fiscal burden, including the federal deficit plus the medicare/social security bills for Boomers exceed America's net worth. Did Obama really graduate from Harvard? His intellegence in this matter is discrediting Harvard's reputation. How is he and Congress spending trillions every month? With no transparancy? Not only is our generation going to be burden with their debt, we're going to be burdened with inflation if not hyperinflation. I voted against Obama and unfortunately I was right.
With that being said, what's wrong with the word "humanitarian"?
Would Americans not be considered "humanitarians" if we didn't spend so much of our money at the G-20 summit meeting? This is complete emotional manipulation, preying on guilt of some sort to get what they want. Like a dog that favors you for a piece of bacon. This is not only ingenuine for the weight of the word's context, but the stale and fluffy elitist snobbery is nauseating.
I'm sorry, most Americans I know help other people. Did we not see Katrina? What about those floods in North Dakota? Americans volunteer in soup kitchens all the time. Churches are out trying to help people. Americans volunteer at animal shelters. Americans volunteer at domestic abuse and suicide shelters. Americans foster and adopt abandoned children, from all over the world. Americans risk their lives with the intent of protecting our freedoms. Americans risk their lives in occupations such as firefighting, to protect other people. Americans are charitable. Americans write in tax breaks for charitable donations. Americans volunteer at homeless shelters.
Did Americans not care enough for their neighbors to march in a Civil Rights protest? America is one of the 1st countries to accomplish the end of segregation.
I've lived in another country that is prided by the world community. We are not saints, but America is much more humanitarian and genuinely more tolerant than they.
Anyone who used the word "Imperialist America" is a gullible person who only travels the world no further than tourist traps. America allows the troops stationed in less developed nations to give medical care to their sick. Has anyone seen the show "MASH"? It's based on reality. We can consider it a "liability" to us, but most Americans don't see it that way.
Again, how "evil" is America when America aided other countries in times of war? Let's see. The invation of Afghanistan started with Tony Blair in the U.K. The U.S. aided allies in Vietnam during the 60's. The U.S. aided South Korea during the battle with the north.
America has aided our former enemies after war. America's biggest enemies, Germany and Japan now have strong economies. Japan solely due to exports to America. The liberals don't want us to know about this. During NAM, their soldiers hid behind children and our media only reported on how bad our troops were. People only want to address the worst just so they will get something out of it.
America has been good to it's neighbors. The world's standard of living increased dramatically because of innovations that Americans were free to benefit from; including modern medicine. People come to the U.S. from Europe or Canada for our health care, only because the quality is kept high due to the privitized sector.
America has also given other countries such as Saudi Arabia, Canada, South Korea, Japan, etc... with healthy trade surpluses. Would it be too much to ask if the WTO would back us in trade issues with China since we're giving the world it's economy through trade?
The working class Americans have suffered dramatically with a record breaking trade deficit and other costs of offshoring production and outsourcing jobs. Both China and India, both undeveloped socialist populous countries had strong economic growth at our expense. We're expected to be "humanitarians" now. Both have a definate caste system, in China they do but it's not called that so little would they care that people don't often choose for bloated bureaucracies.
Not even a "thank you" for the contribution. How rude! We get emotionally blackmailed as Obama slaps on the tax burden.
I'm not sure if anyone remembers that Statue of Liberty. She welcomed masses from countries all over the world fleeing hardships caused by totalitarian regimes. Cubans swim to our shores in Florida. Mexicans swim to our shores and cross our borders everyday. They get free healthcare and a free education at the taxpayer's expense. People from all over the world (within reason usually) can get a standard University education in America. No, we can't just as easily go to China, India, Japan, the UK, South Korea, or anywhere else to get a quality University education. Unfortunately our primary education is a joke thanks to the public sector.
I can go on. We all know that Bush was evil. America is not utopia, we're all subject to the human element between our shores. Knowing what you have that is good is a long term strategy that will guarentee solid gains. Thriving on negativity will end up with that exact result.
Btw, globalization is a monopolization of government around the world and a danger to humanity. Our government is already too out of touch with the people. The media is too out of touch with the people.
The cartoon I posted was found in the Economist. The Economist is a publication from the U.K. They can admit that our taxpayers are enraged with the Federal fiscal policies of the last 6 months. It's a shame that our own media won't touch it. As a matter of fact, more people showed up to the Cincinatti Tea Party a month ago than the London G-20 protests. The Tea Parties have been very civil, but large. The G-20 protests looked like an anti-cop riot on the streets of Oakland.
It's a shame that the Obama Administration considered libertarians "terrorists". This is a violation of their 1st Amendment rights. Silly Dems are so worried that somebody will refuse to pay their taxes. Truth be told, I'm speaking for myself and those I know. We pay our taxes good and full, Uncle Sam won't have to worry about that.
Most of the protestors are boycotting Congress's spending issues and corruption. It's taxation without representation, dissent is our patriotic duty and silence is consent.