Sunday, October 31, 2010
Saturday, October 30, 2010
Why then, during a national security crisis for the United States, is the President leaving Washington in order to participate in campaign stops around the country. While the mid-term elections may be important to the Democrat party, the President's place is in the nation's capital, dealing with what he in his own words termed a credible terrorist plot against the country.
Friday, October 29, 2010
Thursday, October 28, 2010
From an unknown source comes an interesting take on the way that the Obama presidency has helped to refocus Americans, thankfully in time for the mid-term elections on November 2.
One 82-year-old lady loves Obama and she may have a very good point. She says that Obama is amazing, and is rebuilding the American dream! She gives us an entirely new slant on the "amazing" job Obama is doing, and she says that she will thank God for the President. Keep reading for her additional comments and an explanation.
When discussing Obama, she says:
1. Obama destroyed the Clinton Political Machine, driving a stake through the heart of Hillary's presidential aspirations - something no Republican was ever able to do.
2. Obama killed off the Kennedy Dynasty - no more Kennedys trolling Washington looking for booze and women wanting rides home.
3. Obama is destroying the Democratic Party before our eyes! Dennis Moore had never lost a race. Evan Bayh had never lost a race. Byron Dorgan had never lost a race. Harry Reid - soon to be GONE! These are just a handful of the Democrats whose political careers Obama has destroyed. By the end of 2010, dozens more will be gone. Just think, in December of 2008 the Democrats were on the rise. In the last two election cycles, they had picked up 14 Senate seats and 52 House seats. The press was touting the death of the Conservative Movement and the Republican Party. However, in just one year, Obama put a stop to all of this and will probably give the House - if not the Senate - back to the Republicans.
4. Obama has completely exposed liberals and progressives for what they are. Sadly, every generation seems to need to re-learn the lesson on why they should never actually put liberals in charge. Obama is bringing home the lesson very well:
Liberals tax, borrow and spend.
Liberals won't bring themselves to protect America.
Liberals want to take over the economy.
Liberals think they know what is best for everyone.
Liberals are not happy until they are running YOUR life.
5. Obama has brought more Americans back to conservatism than anyone since Reagan. In one year, he has rejuvenated the Conservative Movement and brought out to the streets millions of freedom loving Americans. Name one other time when you saw your friends and neighbors this interested in taking back America!
6. Obama, with his "amazing leadership," has sparked the greatest period of sales of firearms and ammunition this country has seen. Law abiding citizens have rallied and have provided a "stimulus" to the sporting goods field while other industries have failed, faded, or moved off-shore.
7. In all honesty, one year ago I was more afraid than I have been in my life. Not afraid of the economy, but afraid of the direction our country was going. I thought, Americans have forgotten what this country is all about. My neighbors and friends, even strangers, have proved to me that my lack of confidence in the greatness and wisdom of the American people has been flat wrong.
8. When the American people wake up, no smooth talking teleprompter reader can fool them! Barack Obama has served to wake up these great Americans!
Again, I want to say: "Thank you, Barack Obama!" After all, this is exactly the kind of hope and change we desperately needed!!
November 2nd is coming. Get out and vote!
(Tip from Heidi)
Let us know what you think.
Quantitative Easing plans by the Fed, or QE2 as it is referred in the media, will be announced on November 3, potentially becoming more important to the future economic well-being of the country than who wins or loses in the mid-term elections on the 2nd.
For those who have heard, or maybe have not heard of the phrase QE2 or quantitative easing, the questions may be asked; what is it? or why does it matter to me?
Simply quantitative easing is when the Federal Reserve does what it can to increase the availability of money after interest rates have reached the lowest point that they can reasonably get to which is zero, in an attempt to provide the banks with the money required to lend to the consumer which they hope will in turn get the economy going in the right direction.
But what if the banks aren't lending and/or the consumers aren't interested in borrowing or spending, regardless of what the Fed does?
William Gross At PIMCO
Bill Gross is one of the smartest financial minds out there, and one of the go-to guys at least for me when it comes to the bond market first, but also the economic outlook of the country. The importance of the direction that the Fed will take is discussed by him in the PIMCO Investment Outlook dated November 2010. It is well worth the read, and an excerpt from it is below!
(PIMCO Investment Outlook, November, 2010) "...the American people should recognize that Wednesday, even more than Tuesday, represents a critical inflection point in determining our future prosperity. Of course we’ve tried it before, most recently in the aftermath of the Lehman crisis, during which the Fed wrote $1.5 trillion or so in “checks” to purchase Agency mortgages and a smattering of Treasuries. It might seem a tad dramatic then, to label QEII as “critical,” sort of like those airport hucksters, I suppose, that sold whale blubber for a living. But two years ago, there was the implicit assumption that the U.S. and its associated G-7 economies needed just an espresso or perhaps an Adderall or two to get back to normal. Normal just hasn’t happened yet, and economic historians such as Kenneth Rogoff and Carmen Reinhart have since alerted us that countries in the throes of delevering can take many, not several, years to return to a steady state.
The Fed’s second round of QE, therefore, more closely resembles an attempted hypodermic straight to the economy’s heart than its mood elevator counterpart of 2009. If QEII cannot reflate capital markets, if it can’t produce 2% inflation and an assumed reduction of unemployment rates back towards historical levels, then it will be a long, painful slog back to prosperity. Perhaps, as a vocal contingent suggests, our paper-based foundation of wealth deserves to be buried, making a fresh start from admittedly lower levels. The Fed, on Wednesday, however, will decide that it is better to keep the patient on life support with an adrenaline injection and a following morphine drip than to risk its demise and ultimate rebirth in another form.
We at PIMCO join with Ben Bernanke in this diagnosis, but we will tell you, as perhaps he cannot, that the outcome is by no means certain. We are, as even some Fed Governors now publically admit, in a “liquidity trap,” where interest rates or trillions in QEII asset purchases may not stimulate borrowing or lending because consumer demand is just not there. Escaping from a liquidity trap may be impossible, much like light trapped in a black hole. Just ask Japan. Ben Bernanke, however, will try – it is, to be honest, all he can do. He can’t raise or lower taxes, he can’t direct a fiscal thrust of infrastructure spending, he can’t change our educational system, he can’t force the Chinese to revalue their currency – it is all he can do, and as he proceeds, the dual questions of “will it work” and “will it create a bond market bubble” will be answered. We at PIMCO are not sure.
Still, while next Wednesday’s announcement will carry our qualified endorsement, I must admit it may be similar to a Turkey looking forward to a Thanksgiving Day celebration. Bondholders, while immediate beneficiaries, will likely eventually be delivered on a platter to more fortunate celebrants, be they financial asset classes more adaptable to inflation such as stocks or commodities, or perhaps the average American on Main Street who might benefit from a hoped-for rise in job growth or simply a boost in nominal wages, however deceptive the illusion. Check writing in the trillions is not a bondholder’s friend; it is in fact inflationary, and, if truth be told, somewhat of a Ponzi scheme. Public debt, actually, has always had a Ponzi-like characteristic. Granted, the U.S. has, at times, paid down its national debt, but there was always the assumption that as long as creditors could be found to roll over existing loans – and buy new ones – the game could keep going forever. Sovereign countries have always implicitly acknowledged that the existing debt would never be paid off because they would “grow” their way out of the apparent predicament, allowing future’s prosperity to continually pay for today’s finance.
Now, however, with growth in doubt, it seems that the Fed has taken Charles Ponzi one step further. Instead of simply paying for maturing debt with receipts from financial sector creditors – banks, insurance companies, surplus reserve nations and investment managers, to name the most significant – the Fed has joined the party itself. Rather than orchestrating the game from on high, it has jumped into the pond with the other swimmers. One and one-half trillion in checks were written in 2009, and trillions more lie ahead. The Fed, in effect, is telling the markets not to worry about our fiscal deficits, it will be the buyer of first and perhaps last resort. There is no need – as with Charles Ponzi – to find an increasing amount of future gullibles, they will just write the check themselves. I ask you: Has there ever been a Ponzi scheme so brazen? There has not. This one is so unique that it requires a new name. I call it a Sammy scheme, in honor of Uncle Sam and the politicians (as well as its citizens) who have brought us to this critical moment in time. It is not a Bernanke scheme, because this is his only alternative and he shares no responsibility for its origin. It is a Sammy scheme – you and I, and the politicians that we elect every two years – deserve all the blame..."
Wednesday, October 27, 2010
American Thinker via Vocal Minority Brings Me To The Article, "Why do Jews vote for their enemies?"
At the time, given the anti-Bush sentiment that was present in some quarters coupled with the liberal bias of the MSM, this pass was not unexpected.
City of Great Racks
The Leather Gear is in the Guest Room
Kinda Like Necrophilia
Rough Night in Hump Junction (aka His Ugly Bundle)
If My Hole Could Talk
Waiting for the Right Snapper
Tuesday, October 26, 2010
|The Daily Show With Jon Stewart||Mon - Thurs 11p / 10c|
|NPR Staffing Decision 2010|
I Always Knew A Vice President Had Nothing To Do, But This Is Ridiculous
|148||Democratic Republic of Congo||51,83|