From this point further, let it be known that laws no longer matter, says King NObama. Sure, Congress can pass legislation, but as King, his highness can decide which laws shall govern the kingdom. And now that the King has only two years left on the throne, it’s time to pull out all the stops to follow through on promises made to special interests, including illegal immigrants (never say “undocumented”, a euphemism suggesting false citizenship is akin to misplaced vehicle registration), whose children and grandchildren are natural born citizens and mostly voting Democrats.
Call it executive action or call it reckless disregard for the rule of law, if you want to be more truthful. What America needs less than just about anything is a President with nothing to lose deciding that he can do whatever he damn well pleases for the next two years. If you think we’ve been on the wrong path, you ain’t seen nothing yet if NObama is hellbent to cement his legacy as the President who sacrificed his country for his party, his book deal, and his future as a high priced public speaker.
While many Americans bemoan the persistent stalemate in Congress, I happen to be of the opinion that government is not about making more laws. It’s about making as few laws as possible, eliminating unnecessary laws, shrinking the role of government in the lives of free Americans, and ensuring that what little role is left for government is at least respected by all, including the current occupant of the White House. Abuse of power is reprehensible, and it is unbecoming of a man who portrayed himself so differently when he did have something to lose. I want my America back, and I want it now.
Image from USDebtClock.org (click on logo above to go there)
Yesterday’s announcement that a bi-partisan “Gang of 6” U.S. Senators might have found a way out of the stalemate in the federal debt ceiling negotiations with a deficit reduction plan has me dumbfounded. The notion that we should all feel better about ourselves with a plan to reduce the deficit by $4 trillion over 10 years shows just how addicted we have become to debt and how hopeless we are at getting ourselves out of it. First, the national debt is $14.3 trillion. Reducing this figure by $4 trillion a decade from now is hardly cause for celebration. Further, though one might assume this means our national debt would be $10.3 trillion in 10 years, this is not the truth. That would require Congress to operate with balanced budgets for an entire decade. Ironically, the House of Representatives is proposing a Balanced Budget Amendment RIGHT NOW that the Senate and Obama consider a non-starter. In 2009, the ANNUAL budget deficit was $1.4 trillion. In 2010, it was $1.3 trillion. In 2011, it will likely exceed $1.3 trillion. Three years, $4 trillion. At this rate, the national debt would be over $13 trillion HIGHER than today in 10 years. BUT WAIT, with $4 trillion reduced, it would be only about $9 trillion higher, or about $23 trillion. Citizens rejoice!
Image via Wikipedia
Like undoubtedly many other independent investors, I grew queasy as I read headlines and soundbites from remarks this morning by Treasury Secretary Tim Geithner regarding the impending doom threatened by failing negotiations to resolve the federal debt ceiling debacle. Suddenly, I was transported back to 2008 when each weekend included closed-door negotiations in Washington to avert financial catastrophe. Nearly 3 years have passed and some of the names and faces have changed, but the story line is much the same. Armageddon is upon us, and everybody in Washington is looking for a magic wand (see another recent wand-related post: http://wp.me/p1pRY1-gT). One unfortunate memory forever burned in my memory is the press conference with the CEO’s of Bank of America and Merrill Lynch, who had suddenly “agreed” over the weekend to a shotgun wedding. Fast forward to 2011, and the parties on the brink are countries, not companies. Time for another shotgun wedding–polygamy style, since it would make the most sense to package all the toxic waste together in one big, happy marriage. An economic union consisting of the United States, Greece, Italy, Spain, Ireland, and Portugal might be a perfect smokescreen to buy us another 3 years before the next shotgun wedding.
Posted in Politics & Government
Tagged Armageddon, Bank of America, debt ceiling, economic crisis, financial crisis, Forced marriage, Geithner, Greece, humor, Ireland, Italy, Merrill Lynch, National Debt, Portugal, shotgun wedding, Spain, Tim Geithner, United States, United States public debt
Image via Wikipedia
Given the headline, some might assume that I am uneducated, ignorant, or unworldly. On the contrary, I graduated at the top of my high school class, I earned my college degree with a 4.0 GPA (proud enough to still mention it 16 years later!), and I do, in fact, stay tuned to what is going on in the world. The problem I have with the Middle East is that it’s the same old broken record–corrupt governments, militant societies, dictatorships, monarchies, and pseudo-democracies filled with people who have a penchant for scrapping with one another over territories under the guise of religion. So I generalize! Israel, Palestine, Gaza Strip, West Bank, Iran, Iraq, Syria, Hamas, Al-Qaeda, Taliban, Kurds, blah, blah, blah. When I hear these words, I just tune out. It’s like the teacher on the old Charlie Brown cartoons—“wawawa, wawawa, wawawa.” For the media, it’s like a Monica Lewinsky scandal that just keeps on giving, for generations and generations, but who is listening? I love NPR, but I would REALLY love it if they would drop the Middle East crap. Enough! If any of them ever threaten us, just unleash the mushroom bombs. Until then, I DON’T GIVE A DAMN!
Posted in Politics & Government
Tagged Al-Qaeda, conflict, Gaza Strip, Hamas, humor, Iran, Iraq, Israel, media attention, Middle East, Mideast, NPR, Palestine, political conflict, Syria, territorial dispute, Warfare and Conflict, West Bank
Oh Mighty Government, Wave That Magic Wand! (Image from Wikipedia)
Since the first shock waves of the current economic crisis hit in the fall of 2008, the prevailing attitude on Main Street, Wall Street, and virtually every other street in America has been that the government needs to JUST DO SOMETHING! The “something” has been an ongoing matter of debate, but the gist of the calls for action have been that government has the ability to make things all better again. Try as they might with “free” money (stimulus), tampering in markets (for starters, owning GM/AIG/Fannie Mae/Freddie Mac and buying Treasuries–their own bonds–to keep rates artificially low), and buying troubled loans from banks (transferring risks from banks to all Americans), all of these efforts have proven capable of only one thing: delaying the inevitable days of reckoning. The proverbial chickens do eventually come home to roost, and we will eventually have to swallow the bitter pill of past problems brushed under the rug woven from wasteful and counterproductive government interventions. Housing is still sinking. Joblessness is not improving. Congress is in a stalemate over the federal debt ceiling. The U.S. borrows 40 cents of every buck it spends. Suffering has set in across America. My plea? JUST DON’T DO SOMETHING!
Posted in Politics & Government
Tagged AIG, Ben Bernanke, debt ceiling, Fannie Mae, Federal Reserve Bank, Freddie Mac, General Motors, GM, government intervention, interest rates, joblessness, magic wand, market tampering, National Debt, stimulus, Treasury bonds, unemployment, United States public debt
Anthony Weiner, Flaws and All
So, after what seems like an eternity of Weiner coverage in the media–dare I say, it appeared to be Weiner envy at times–all of the morally righteous in America, as well as the Democrats who contributed mightily to the Weiner whacking, got what they wanted. They have beaten this Weiner into submission. What a shame, I say. Generally speaking, I believe that people get what they deserve in life, but why should a guy who embarrassed himself and lied to cover it up be forced to resign? By all accounts, he was a perfectly competent Congressman. In fact, he was seen as a high performer, until his personal life became the center of attention. Members of Congress are not perfect human beings anymore than you or I. His story echoes of the tragic fall taken by former New York Governor Eliot Spitzer. Now there was a guy who had what we really need in politics–a fearless bulldog, with a bite to back up his bark. But he, too, was forced to resign because of his personal failings. Why can we not forgive politicians for their personal transgressions and judge them based upon their performance? Forgiveness is a forgotten virtue.