It is the economy, stupid

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Anybody remember James Carville during the 1992 presidential campaign coaching Bill Clinton to stay on message so as to beat George H.W. Bush?

“It’s the economy stupid.”

Interestingly, in view of today’s politics, Carville also urged Clinton to hammer away at “change” and “healthcare.”

Fast forward Clinton redux: same suit different face, but situations reversed.

Democrats and their apologists in media—notably Chris Matthews—fearing a rout in 2010, are desperate to put a smiley face on economic news.  The famous ‘leg tingler’ Matthews is almost disassociating these days, presenting bizarre justifications in support of Obamanomics.

Matthews: ‘Gov’t spending was necessary to stimulate consumer spending and business investment to avoid another great depression.’

Whole Matthews comedy routine  here.

Shall we keep in mind Matthews has stated flat out that his job is to make this president successful? How incredibly absurb.  First, when did it become a ‘journalist’s’ job to make a public official successful, and secondly, what kind of ego drives a guy like Matthews to believe he has that much influence anyway?

As to the glowing economic reports Mr. Matthews, you either need to pull your head out of your back pocket and do some reading, or fire your research staff and start over.  Get a load of these reports you strutting peacock.

Wake up call on the economy  Heritage Foundation

Consumers and investors are confident? HA!

Real unemployment is 15.6%

2nd Mortgage default crisis on the way, hyperinflation, risk of depression is great

Despite the evidence of serious economic decline thanks to Obamanomics, Chris Matthews wants us to believe Obama is our savior, he is doing a great job, and the media is negligent not giving the President adequate credit.

Chris, are you on drugs?  Is Keith Olbermann your pusher man?

IT WOULD BE HILARIOUS . . .

. . . if it wasn’t so tragic.

THESE BIRDS DON’T EVEN TRY TO HIDE THEIR CONTEMPT:  Contempt for certain racial groups, contempt for the middle class, contempt for state’s rights, contempt for professionals, contempt for white construction workers, contempt for economic freedom.

Citigroup has received $45 BILLION in taxpayer funding to stay in business.  That’s $45,000,000,000.00 dollars.  Guess how much Citigroup is worth?   What’s that?   Citigroup is worth $19 BILLION?   You mean our government spent $45 Billion of our dollars to save a private company worth only $19  Billion?  Return on investment?   So far, net loss of $26 Billion. 

Headline yesterday: Citi buys $50M luxury French jet

At our house, we have a Citimortgage at a high interest rate compared to current competitive rates.

Despite good income and a good credit rating, we can’t refinance and lower the rate because the rules have tightened, thanks to abuses by others, including the government. (Do I hear Fannie Mae?)

The value of our home has plummetted, thanks to the abuses of others, including people who don’t pay their bills, the government and run amok corporations.

So I rise to work today, knowing I’ll have to work harder and earn more money so we can pay our Citimortgage, so that Citigroup can squander money, so that the government can confiscate more of our income, to bailout Citigroup and others who have abused the system (do I hear Fannie Mae?), so that the government can rescue us via a $2 TRILLION stimulus package that will only worsen our situation.  The politicians promised mortgage relief but where is it?  Can’t find it!  Don’t want it, but where is it!  

(Oh. And taxes will of course increase. They must. How else will the government pay for enormous increases in government spending  planned by this new government, including paying for condoms to give to kids who don’t use them spiking teen pregnancy requiring state-funded abortions?  Don’t forget national healthcare and subsidies for green jobs putting Americans to work making solar panels nobody will buy.  Stimulus We Can Believe In!)

But here is the capper!

Fannie Mae officials said yesterday they must have $16 BILLION in taxpayer money to stay afloat. (I wonder how much of that will wind up in the Obama re-election fund?)

Only in America do we create and sustain an entire industry (government) to subsidize failure.

Congress gave Treasury $350 BILLION a couple months back. Remember that? The banks got the dough. We don’t know what they did with it, although we hear about $1 million dollar office renovations and huge bonuses for execs in the multi-million dollar range. This new government wants to duplicate that stunning record of accomplishment by releasing another $350 BILLION of taxpayer money to ‘stimulate’ the economy. And the President wants an additional $900 BILLION to ‘stimulate’ the economy.

Two problems with all this: historically, we have NEVER spent our way out of a recession, so this simply will not work. All it will accomplish is a devaluation of currency (ushering in hyperinflation), putting our grandchildren and great grandchildren in debt.

Forget student loans. Newborns are now saddled with debt thanks to the politicians in Washington.

The other huge problem with all this: the so-called bailout funds the President wants to flood the economy with?  That money won’t even be available for two to three years.

So much for the quick fix.

And they wonder why the only institution we have confidence in anymore is the military?

Anyone hear of the Cloward-Piven Strategy? Wouldn’t you be surprised to learn all this economic destruction and resulting centralization of power and wealth in Washington was planned and is being executed purposefully.

OBAMA’S BLUE WALL

One word: CONTROL.   Hey, fellow little people! This is not about helping you. It is about getting you in line.

Americans: your liberty is on the block. You sold it for a bowl of soup, and an interest-only loan with a balloon.

We have no one to blame but ourselves. Spoiled children always pay the piper in the end.

Socialism took over years ago.  We were on the couch, watching football.

Econ Stimulus a Ruse to create One-Party Rule?

Be Very Afraid: the looming threat of hyperinflation

by Harris Sherline, CPA

EXCERPT
The scene is being set for hyperinflation, with panic efforts to “stimulate” the economy and “save” financial institutions and industries that are considered too big or too important to fail. Obama’s plans to spend upwards of another trillion dollars on a second “stimulus package” and as much as an additional trillion dollars for new programs (as yet undefined) will soon cause inflation to begin anew. It’s difficult to predict exactly when hyperinflation is likely to occur, but unless we stop creating fiat money and borrowing as if there is no tomorrow, it’s sure to happen.

If and when the Chinese, the Japanese, and the oil rich Arabs decide that it’s no longer safe to hold their wealth in American dollars and start selling U.S. bonds, there will be a sudden drop in the value of our currency with a corresponding increase in inflation.

The American public seems to instinctively understand that what’s going on is wrong, but the economically ignorant, bone-headed politicians who are in charge simply don’t get it.

TALKIN’ BANKRUPTCY & DEPRESSION

We have consumed like hogs, borrowed to do so, neglected our productive capacity, ignored the importance of savings, watched our money lose value, while going in debt to foreign powers and allowing our Congress to spend like drunken sailors.  Duh.  Bailouts only make matters worse, putting off the inevitable, each one a nail in our coffin.

Economists and Financial Advisors predict catastrophe

“Debasing the currency…”

Paul Craig Roberts, Assistant Secretary of the Treasury during President Reagan’s first term, and Associate Editor of the Wall Street Journal.

“What Reich and the American economic establishment do not understand is that the recession paradigm does not apply. There are no jobs waiting at US manufacturers for a demand stimulus to pull Americans back into work. The problem is not a liquidity problem. To the contrary, there have been many years of too much liquidity. Credit has grown far more than production. Indeed, US production has been moved offshore. Jobs that used to support the growth of American incomes and the tax bases of cities and states have moved, along with US GDP, to China and elsewhere.

The work is gone. All that are left are credit card and mortgage debts.

Anyone who thinks that America still has a vibrant economy needs to log onto http://www.EconomyInCrisis.org and face the facts.”

Full text Paul Craig Roberts here

Former Comptroller tells us we are headed for bankruptcy

Dollar eats it, Ron Paul on monetary policy

Roberts and Paul say the war on terror is part of our problem but Walker disagrees, saying entitlements are the real problem.  It is likely we’ll need to close military bases in many places, most especially the Far East and Europe.

Obamanomics: spreading the misery

 

 

BHO: Impossible to cut taxes for 95% of people as 30% don’t pay income tax.  See Larry Elder research link below.

 

What Obama means is “tax credits” : translation, redistribution of wealth, you know, spreading it around, i.e., socialism, like importing Fannie Mae into the IRS.  And we know how well that Fannie Mae deal worked out eh?

 

http://townhall.com/Columnists/LarryElder/2008/10/16/the_case_against_barack_obama,_part_1

 

Here is Obama’s tax plan:

 

http://www.barackobama.com/taxes/  [Scroll down and notice the impact will be minimal for families and others.]

 

He claims he will not raise taxes on anyone or on any small business making $250,000 or less.

 

Does any of this make sense?  Obama claims the vast majority of small businesses make less than $250,000.  Is that true?

 

“We say that the overwhelming amount of small business profits in America will face a tax hike” under Obama’s plan.

 

http://marcambinder.theatlantic.com/archives/2008/10/small_business_v_small_busines.php

http://www.atr.org/content/html/2008/oct/101608pr-factcheck_debate.html

In the U.S. we generally define a small business as one employing 100 people or less.  In the U.S. small businesses provide the vast majority of jobs. 

 

Tax hikes on small business in a recession?  That is the surest way to kill jobs.  That is the surest way to send us into deep depression, especially in view of Obama’s plan to drastically increase federal spending, which we simply cannot afford, according to the most recent Comptroller General to resign, a Democrat.

 

http://www.youtube.com/watch?v=OS2fI2p9iVs

 

When small businesses face increasing costs, especially in a downturn, the first thing they do is cut expenses.  In these times, deep cuts will be required, simply to survive.   Employees are the most expensive line item in any business.  Guess who goes first?

 

http://www.inc.com/news/articles/2008/10/small-business-confidence.html

 

THEREFORE, the Obama tax plan hurts small business, increases unemployment, and takes money from productive sectors of the economy, giving it to lower income groups in amounts that have little or no impact.  Everyone loses.  Rather than spreading the wealth, Obama spreads misery.

 

However . .

 

The trouble with this election: it is being driven by emotions, impressions, feelings, fears, resentments, class warfare and envy.

 

Facts play poorly if at all in such an environment.

 

Obama is a master at painting pictures, but behind the canvas, it’s a vastly different story.  Once the tax and spend liberal, and proud of it, he now fashions himself the tax-cutting fiscal conservative, but his policies still trend socialist.

 

 

Note:  The Annenberg Political Fact Check outfit (associated with the Chicago Annenberg Foundation of Obama/Ayers fame) says this is all bunk:

http://www.factcheck.org/elections-2008/mccains_small-business_bunk.html

 

 

Business people know the truth.

http://www.alextimes.com/article.asp?article=10408&paper=1&cat=155

http://www.docstoc.com/search/Hispanic-Business-leaders-endorse-John-McCain-Sarah-Palin/

http://www.johnmccain.com/Informing/News/PressReleases/CA4BFC64-6128-419A-9D1E-180FFF6099C1.htm

http://www.minnesotademocratsexposed.com/2008/07/08/mccain-for-president-press-release-minnesota-small-business-leaders-endorse-john-mccains-jobs-for-america-economic-plan/

 

McCain Supporters:

 

John T. Chambers, CEO of Cisco Systems

Carly Fiorina, former CEO of Hewlett-Packard[58]

Steve Forbes,[59] magazine publisher, former GOP Presidential Candidate (1996, 2000)

Charles R. Schwab, investor and founder of brokerage firm Charles Schwab Corporation[citation needed]

Frederick W. Smith, founder and CEO of FedEx Corporation[citation needed]

Donald Trump, Chairman and CEO of the Trump Organization[citation needed][60]

Meg Whitman, former CEO of eBay [61]

 

 

PS: 

 

“It gives us an insight into the huge gulf between Senator Obama’s election year image and what he has actually been for and against over the preceding decades.”

Thomas Sowell

 

http://townhall.com/columnists/ThomasSowell/2008/10/08/the_real_obama_part_ii

 

 

 

Obama and Biden: Making federal gov’t king deceiving voters

Working hard to make the USA one enormous Fannie Mae

Obama does not believe he is ready to be President.

http://www.youtube.com/watch?v=K4yCwqtuv5Q&feature=related

 

In light of this: consider the following, please . . .

 

Sen. Joe Biden just told a crowd that Sen. McCain favors supporting a war in Iraq, indefinitely.

 

Just stop and think for a moment.  Do you believe McCain favors unending war in Iraq, or anywhere else?  Do you believe John McCain is the war monger Biden says he is?

 

McCain stood by our troops in time of war, supported our President, but also criticized him constructively leading to a miraculous turnaround in our fortunes in Iraq.  What have Obama and Biden done (?):  Whine, bitch, moan and complain, ignoring the truth, demoralizing our men and women in uniform, giving comfort to the enemy, and causing dissention at home.

 

Lincoln would have them shot. 

 

Joe Biden voted for the war in Oct. 2002. 

 

Now he runs around claiming McCain is wrong about everything?  On Russert’s program in August 2002, Biden said:  “I think Saddam either has to be separated from his weapons or taken out of power.”

 

http://www.youtube.com/watch?v=aiPHhKvqfs8

 

Apparently Biden was right before he was wrong before he corrected himself to be right again, and then he voted against the surge, but now says it worked, but it was wrong, so now we are supposed to believe Biden is right and McCain is wrong.  Biden takes flip flopping to a level even John Kerry cannot conceive.

 

Is anyone paying attention? 

 

Biden’s brain is like a hamster running the wire wheel: lots of energy expended, getting nowhere.

 

Sen. Biden, like his running mate, will say and do anything to get elected.  They dropped all pretense of being honorable long ago.  Voters should reject them on this basis alone.

 

The sum of Biden’s remarks today were to vilify McCain over and over with lies and half truths, periodically assuring us, he was “not making this up.”

 

Whenever a politician frequently reassures us he is not lying, it is more than likely he is indeed lying through his teeth.  Such is the case with both Obama and Biden.

 

Biden asks McCain:  “Where were you a year ago when Barack was talking about the sub-prime mortgage crisis?”   

 

Well Sen. Biden, 3.5 years ago McCain was fighting for reforms to prevent this crisis in housing and the financial markets, but the Democrats blocked reform. 

 

And now you have the gall to blame McCain?! 

 

You are a liar Sen. Biden, and so are you Sen. Obama, in you attempts to cast all blame on Republicans.  At least Republicans are honest enough to take their fair share of the blame.

 

 

McCain – Federal Housing Enterprise Regulatory Reform Act of 2005 (Democrats blocked reform)

1/26/2005 | Congressional Research Service

 

Posted: Tuesday, September 16, 2008

http://www.freerepublic.com/focus/f-news/2083758/posts

 

Federal Housing Enterprise Regulatory Reform Act of 2005

 

Bill Summary

1/26/2005

Introduced. Federal Housing Enterprise Regulatory Reform Act of 2005 – Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish: (1) in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency which shall have authority over the Federal Home Loan Bank Finance Corporation, the Federal Home Loan Banks, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac); and (2) the Federal Housing Enterprise Board. Sets forth operating, administrative, and regulatory provisions of the Agency, including provisions respecting: (1) assessment authority; (2) authority to limit nonmission-related assets; (3) minimum and critical capital levels; (4) risk-based capital test; (5) capital classifications and undercapitalized enterprises; (6) enforcement actions and penalties; (7) golden parachutes; and (8) reporting. Amends the Federal Home Loan Bank Act to establish the Federal Home Loan Bank Finance Corporation. Transfers the functions of the Office of Finance of the Federal Home Loan Banks to such Corporation. Excludes the Federal Home Loan Banks from certain securities reporting requirements. Abolishes the Federal Housing Finance Board.

 

Obama and Biden try to blame Bush and McCain for our economic troubles.  What a revelation to learn the Democrats are largely to blame.  Bush and McCain tried numerous times to reform the system, but the Democrats prevented it!  Why? 

 

Because the Democrats were buying votes with sub-prime mortgages, they were lining their pockets and they were establishing national bases and centers of power: all on the backs of honest, hard-working Americans!

 

Read it!

 

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/11/AR2008091102841.html

http://www.freerepublic.com/focus/f-news/1235575/posts

http://online.wsj.com/article/SB122212948811465427.html?mod=googlenews_wsj

http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=75586

 

http://www.ibdeditorials.com/IBDArticles.aspx?id=307149667289804

 

Anyone taking a look at the record will see clearly the Democrats foisted Fannie Mae and Freddie Mac on the country.

 

Anyone caring to read a few news stories will clearly understand this financial crisis was sparked by Freddie and Fannie and remains responsible for much of our economic trouble.

 

Anyone interested in the facts will understand the Democrats loosened the rules on those government-sponsored sub-prime lenders, and, the Democrats stood in the way of many attempts by Republicans during the past seven years to reform.

 

John McCain fought for reform of Freddie and Fannie.  Obama was silent.  Behind Obama’s silence he scooped up $126,000 in campaign contributions from Fannie and Freddie. 

 

Read it for yourself, and then ask:  Are these people—Obama and Biden—the very foxes you want back in the chicken coop?

 

‘Crony’ Capitalism Is Root Cause Of Fannie And Freddie Troubles

By TERRY JONES
INVESTOR’S BUSINESS DAILY | Posted Monday, September 22, 2008

http://www.ibdeditorials.com/IBDArticles.aspx?id=306978378974502

“And that’s just what Fannie and Freddie were — fixed. They became a government-run, privately owned home finance monopoly.  Fannie and Freddie became huge contributors to Congress, spending millions to influence votes. As we’ve noted here before, the bulk of the money went to Democrats.  President Bush, reviled and criticized by Democrats, tried no fewer than 17 times, by White House count, to raise the issue of Fannie-Freddie reform. A bill cleared the Senate Banking panel in 2005, but stalled due to implacable opposition from Democrats and a critical core of GOP abettors. Rep. Barney Frank, who now runs the powerful House Financial Services Committee, helped spearhead that fight.”

 

Facts are inconvenient things Sen. Obama, Sen. Biden, especially when the people start to learn you have not only been lying to them, you’ve been picking their pockets all along and demonizing good people to provide cover.  You are not only liars, you are thieves and scoundrels as well. 

 

Joe Biden and Barack Obama are unfit for office, corrupt and disgraced. 

 

Biden has done nothing other than feed at the public trough for 36 years. 

 

His outrageous lies and horrendous misrepresentations should be confronted, but you’ll not see the massive media challenge their Leftist darling.  

 

There’s simply too much at stake in the quest to destroy our republic, and replace it with a Euro-Socialist autocracy: Uncle Sam turned Aunt Fannie. 

 

And Obama is the empty suit the radical Left manufactured—-their Manchurian candidate—poised now to make the entire country one enormous Fannie Mae.

 

Place the blame where it rightfully belongs: squarely on the shoulders of the Democrats and in particular on the shoulders of Obama, Biden, Reid, Pelosi, Frank, Dodd, Schumer, Durban and the rest. 

 

In the meantime, God help us.

 

PS:  Biden does not believe Obama is fit to be President.  He said so.  Here it is!  Bill Clinton does not believe Obama is ready to be President.  Hillary agrees.

 

http://www.youtube.com/watch?v=WMYty1PgHEg&feature=related

 

http://www.youtube.com/watch?v=5BnLozS-TnM&feature=related