Tag: liberalism

Five European Nations to Be Downgraded by S&P

The fallout from the housing market bust here in America continues:

The Story:

Standard & Poor’s will cut the credit ratings of Italy, Spain and Portugal by two notches and downgrade France and Austria by one notch, a French newspaper said Friday, without citing its sources.

The newspaper, Les Echos, said that S&P would spare Germany, the Netherlands, Finland and Luxembourg in its long-awaited adjustment of euro zone sovereign ratings.

It said the announcement would come at around 4:30 pm ET, after the US stock market has closed.

“Remain alert tonight when U.S. markets close,” one euro zone source told Reuters.

US stocks slumped in reaction, though were well off their lows, while European shares closed lower.

In December, S&P placed the ratings of 15 euro zone countries on credit watch negative— including those of top-rated Germany and France, the region’s two biggest economies—and said “systemic stresses” were building up as credit conditions tighten in the 17-nation bloc.

Since then, the European Central Bank has flooded the banking system with cheap three-year money to avert a credit crunch. At the time, the U.S.-based ratings agency said it could also downgrade the euro zone’s current bailout fund, the EFSF.

Five European Nations to Be Downgraded by S&P: Report – Business News – CNBC.

This is what happens when progressives game a system and it comes all crashing down around them. Now you would think that they would learn from this little idiotic mistake; well, you would be wrong. They honestly believe the way to recover from this, is by spending their way out of a recession. Idiots, all of them. 🙄

Related:

 

The United States Debt Ceiling Hits $15.194 Trillion

So, what does President want? More of your money of course!

The story via WSJ:

The Treasury Department has begun maneuvers to avoid hitting the debt ceiling, as the Obama administration waits for Congress to return from the holiday break before it can raise the federal borrowing limit.

The U.S. government was just a hair below the $15.194 trillion debt ceiling on Tuesday, $25 million shy of the limit Congress set last summer. President Barack Obama sent a letter to congressional leaders Thursday, saying the U.S. debt was within $100 million of the ceiling “and that further borrowing is required to meet existing commitments.”

…and of course:

President Obama formally notified Congress on Thursday of his intent to raise the nation’s debt ceiling by $1.2 trillion, two weeks after he had postponed the request to give lawmakers more time to consider the action.

Congress will have had 15 days to say no before the nation’s debt ceiling automatically is raised from $15.2 trillion to $16.4 trillion.

In a letter to House Speaker John A. Boehner (R-Ohio), Obama wrote that ”further borrowing is required to meet existing commitments.”

Obama had sought to make the request at the end of last month, when the Treasury came within $100 billion of its borrowing limit. However, with Congress on recess, lawmakers from both parties asked the president to hold off. The House is out of session until Jan. 17, and the Senate until Jan. 23.

Since then Treasury officials have used special revenue and accounting measures to maintain the nation’s solvency. Yet the White House cast the delay as a technicality, saying there is no chance the limit will not be increased, even if Republican lawmakers attempt to object.

16.4 trillion dollars?!?! 😯 That is 16.4 trillion of money from China and/or your money through taxes. Either that or it would have to come from slapping tariffs on imports; and we know an internationalist Democrat like Barack Obama would never do that.

So, to be brief; we’re screwed….badly.

UPDATED! PLEASE READ!: Quote about President Barack Obama

Who said this?

“My question is, what legacy will he leave, having the opportunity to serve under such hugely dramatic circumstances and had such a huge impact on the universal state of things … how could he have had such a splendid opportunity to do more than most presidents would have ever been able to do, and he let that opportunity slip away from him.

I’m very cautious of the fact that those who think he has some second agenda and only if he could be given a second term for us to see the new light, new things will be revealed, new efforts will be made to take us to a place other than where we’ve been and where we languish. I just don’t trust that. I don’t believe that’s a safe way and accurate way to look at this scenario. If there was the kind of moral compass serving Barack Obama the way we hoped, the moral force would have helped him make choices, the absence of that force in his equations, that barometer to guide him when he has to make these decisions that are hugely complicated, he should have come to the table with the things that would have helped us in this moment of crisis.”

Continue reading “ UPDATED! PLEASE READ!: Quote about President Barack Obama” →

Hannity to Perry: You sound like the #OWS crowd!

I have to hand it to Hannity, when he is right, he is right. I wrote the same thing. Which means I actually agree with Sean Hannity! Horrors! 😯

Video: (Via Mediaite) (H/T to HotAir Headlines)

Money quote:

Perry began the segment attacking President Obama, but Hannity quickly shifted gears to the “very harsh words” Perry has had for Romney. “It almost sounds like Occupy Wall Street,” he noted, “it doesn’t sound like someone who is governing Texas as a conservative.”

“There is a real difference between venture capitalism and vulture capitalism,” Perry replied, adding that “venture capitalism we like; vulture capitalism, no.” He justified his attacks saying that “the fact of the matter is he’s going to have to face up to this at some time or another.” Hannity wasn’t satisfied with this answer, asking Perry whether he was saying “that Mitt Romney is a vulture capitalist, that he is unethical.” Perry specified that he thought what happened with two specific companies bought by Bain was “irresponsible,” and that “the folks in South Carolina agree with that.” Hannity replied that it was still “as severe as they can get” as far as attacks go, though Perry insisted there were places where Bain had “destroyed people’s lives.

Rick Perry, making the Democrats arguments for them. Nice Ricky….real nice… 🙄

Obama’s World? — Fines for Bio fuel that does not exist is stupid, says… The New York Times?!?!

When the Obama lead Government loses the New York Times, something is horribly wrong:

WASHINGTON — When the companies that supply motor fuel close the books on 2011, they will pay about $6.8 million in penalties to the Treasury because they failed to mix a special type of biofuel into their gasoline and diesel as required by law.

But there was none to be had. Outside a handful of laboratories and workshops, the ingredient, cellulosic biofuel, does not exist.

In 2012, the oil companies expect to pay even higher penalties for failing to blend in the fuel, which is made from wood chips or the inedible parts of plants like corncobs. Refiners were required to blend 6.6 million gallons into gasoline and diesel in 2011 and face a quota of 8.65 million gallons this year.

“It belies logic,” Charles T. Drevna, the president of the National Petrochemicals and Refiners Association, said of the 2011 quota. And raising the quota for 2012 when there is no production makes even less sense, he said.

Penalizing the fuel suppliers demonstrates what happens when the federal government really, really wants something that technology is not ready to provide. In fact, while it may seem harsh that the Environmental Protection Agency is penalizing them for failing to do the impossible, the agency is being lenient by the standards of the law, the 2007 Energy Independence and Security Act.

The law, aimed at reducing the nation’s greenhouse gas emissions, its reliance on oil imported from hostile places and the export of dollars to pay for it, includes provisions to increase the efficiency of vehicles as well as incorporate renewable energy sources into gasoline and diesel.

It requires the use of three alternative fuels: car and truck fuel made from cellulose, diesel fuel made from biomass and fuel made from biological materials but with a 50 percent reduction in greenhouse gases. Only the cellulosic fuel is commercially unavailable. As for meeting the quotas in the other categories, the refiners will not close their books until February and are not sure what will happen.

The goal set by the law for vehicle fuel from cellulose was 250 million gallons for 2011 and 500 million gallons for 2012. (These are small numbers relative to the American fuel market; the E.P.A. estimates that gasoline sales in 2012 will amount to about 135 billion gallons, and highway diesel, about 51 billion gallons.)

Even advocates of renewable fuel acknowledge that the refiners are at least partly correct in complaining about the penalties — Via NYT: Companies Face Fines for Not Using Unavailable Biofuel – NYTimes.com

It is very obvious that the attempt to inject politics into our economy has failed. This means vote different in 2012.

Others: National Review, The Enterprise Blog, Weasel Zippers, The Volokh Conspiracy, Doug Ross and The Jawa Report

Is China’s Economy about to collapse?

This is not the first time I have heard this, but:

Which does China face? A popped real estate bubble could exert a big drag. Housing construction exceeds 10 percent of GDP. That’s historically high, says Lardy. At a similar stage of economic development, Taiwan’s housing investment was 4.3 percent of GDP. In the recent U.S. real estate boom, housing peaked at 6 percent of GDP. In China, housing stimulates much consumer spending (furniture, appliances) and accounts for 40 percent of steel production, notes Lardy. Land sales are also a big revenue source for local governments. All would suffer from a housing bust.

There are mitigating factors. Outside Beijing and Shanghai, it’s unclear that housing prices are “out of line with household income growth,” says economist Eswar Prasad of Cornell University. Chinese buyers also typically make large cash payments for their properties. Compared to United States, a housing bust is less likely to become a banking crisis as mortgages sour.

Whatever happens, China’s economic model is reaching its limits, as Lardy argues. It has relied on exports, promoted through the controlled exchange rate, and investment, including housing, subsidized by cheap credit. Meanwhile, Chinese savers have been punished by the low returns on deposits. This dampens their incomes and consumption spending. The trouble is that the global slowdown threatens exports and housing’s excesses threaten investment. Unless China can switch to stronger consumption spending, its economy will slow — or it will achieve growth by becoming even more predatory toward other countries. — Is a Chinese economic slump on the horizon? – The Washington Post

Go read that whole thing, because this is the best case for this belief. The funny thing, the people over a GoldSilver.com have been saying this for a while:

Go check them out and get into Gold and Silver; before you lose it all.

Here is a good reason why I will be voting Republican in 2012

This is very scary…:

In his remarks, Genachowski said the program has been successful, but has also been plagued with problems of accountability and efficiency. Multiple service providers are often supplying Lifeline subsidies to the same households, he said, because there is no centralized system. To address the issue, Genachowski said, the draft proposal creates a national database of Lifeline users to prevent duplicative billing. It also sets a budget for Lifeline aimed at connecting eligible consumers while staying within budget, and requires that participating companies be subject to independent audits every two years. — via FCC’s Genachowski proposes broadband reform – Post Tech – The Washington Post

National Database of internet users? Yeesh. 🙁 The Democratic Party has gone mad. Go read, that whole thing. I will say this; that low income thing is a crock; if they do it for them, they will do it for everyone. This is why we have to win in 2012 and further more, Why we also have to pick a real Conservative and not some idiotic Rockerfeller big-goverment Republican. Which is why I do not quite understand why people like Michelle Malkin get upset over the back and forth that is going on.

The Republican grassroots and the Conservative grassroots; which does include me — needs to know what they are getting this time. The last time around, everyone just followed behind what the Republican establishment gave them. Not this time; we are better informed, and thanks to twitter, facebook and blogs, we communicate better. Which is why elitists like President Barack Obama hate the internet so much. To be fair, I would be willing to bet some Republicans dislike it too.

(H/T Drudge)

This is why illegal immigration bothers me

Via Preston Wright on Facebook:

The American Militia’s website

Pat Buchanan is a fine American

Furthermore, anyone who opposes his views, when it comes to foreign policy, trade, and fiscal policy are anti-American, a liberal or a Neoconservative.

(AP)  PASADENA, Calif. — MSNBC’s top executive said Saturday that he hasn’t decided whether conservative commentator and author Pat Buchanan will be allowed back on the network.

Buchanan, a former GOP presidential candidate and a paid MSNBC contributor, hasn’t been on the network since the publication of his book “Suicide of a Superpower” last October. The book has chapters titled “The End of White America” and “The Death of Christian America” and its author argues that the United States is in the “Indian summer of our civilization.”

“When Pat was on his book tour, because of the content of the book, I didn’t think it should be part of the national dialogue much less part of the dialogue on MSNBC,” said MSNBC President Phil Griffin. The minority advocacy group Color of Change has circulated a petition urging MSNBC to fire Buchanan.

Buchanan did appear for an interview about his book in October on Fox News Channel’s “Hannity,” where host Sean Hannity said, “welcome out of exile.”

Griffin would not discuss the length of Buchanan’s contract with MSNBC or whether it would be renewed. — Via MSNBC chief: No decision on Pat Buchanan’s return – CBS News

Pat Buchanan is a rare person, who speaks candidly about racial realism in America. The Marxist tools at MSNBC and the Marxist tools on the right who oppose him are not worthy enough —- to tie his shoes. I feel the way, about this man, the way Ron Paul’s people feel about him.

Buy ALL of Pat Buchanan’s books right here:

You say, “I thought you didn’t support Antisemitism or Racism?” I don’t. But, I do support those who dare to tell the truth about those who support Wilsonian foreign policy and internationalist Democrats and Republican Globalists; who are selling America’s birthright right out from under us everyday. Further more, I support someone who calls these Neoconservative warmonger’s for what they are; warmongers who would drive American into bankruptcy to support a Nation, who views we, the American people as useful idiots. Further more, Israel is much capable of handling its own affairs and does not need the United States meddling in them. Israel’s President said that himself, during a joint session of Congress.

So, all this silliness about racism and Antisemitism is nothing more than the liberal and neoconservative establishment protecting their turf. Kinda like these idiots below:

Little Green Footballs, Outside the Beltway, The Impolitic and The Raw Story

Pat Buchanan’s website is here

Update: Now, obviously, I do not agree with Mr. Buchanan on his views about World War 2. However, it is a fact that Germany did not attack America on December 7, 1941; Japan did.  However, I am mindful that the Germans did sink some of our private vessels off the coasts of California, Texas and New York.  Having said that, why is it, that the Neoconservative and liberal establishments wish to silence this man? It is simply a form of soft-fascism; something the left invented long ago and it seems that the right likes to play that game too. I know it too well, I have taken so controversial stances myself in the past and have challenged  some of the so-called “Darlings” of the Neoconservative establishment and I have been banished to pariah status in the Blogosphere because of it.

No, I did not watch the Republican Debate last night

I had good reason not to watch too. From what I was hearing on twitter last night; while I was lying in the bed and drifting off to sleep, is that the debate was lousy. This was confirmed by things that I have read this morning. I guess the usual liberal partisan hacks over at ABC NEWS were living up to their expectations — not to mention the fact that the head of the DNC was at the debate outright lying to the media.

Also, the silly back and forth, not to mention the preening; as to who is the most Republican of them all — I find all that quite the bore. The truth is none of these contenders is of the Reagan stripe of Conservative, most of them, with the exception of Ron Paul; who is too far in the other direction — are just Neo-Conservative war hawks. Now will I vote for one of them? At this point, I really do not honestly know. It depends on which one makes the cut with the GOP nomination.

To be quite honest, the primary process really does not interest me that much. Now the general election is another story; the debates that I very much look forward to are the general election debates, how is Obama going to face someone like Romney? How is Obama going to stand there with a straight face and repeat that silly mantra of Hope and Change?

The truth is the only thing that is changed, is the amount of debt and the rate of unemployment. This is not to even to mention all the bureaucratic Government regulations that was put into place that killed many jobs in the oil drilling business. I just do not see how Obama is going to defend all of that, without sounding like a blithering idiot.

There is supposed to be a debate tonight as well, from what I hear. I will most likely skip it too. Again, I just do not have any interest in the Republican Party fashion shows. I just want to see this failure of a President try to debate and defend his failures in leadership. It is something that I do look forward to very much.