Category: Obama

A text book example of why Keynesian economics does not work

I have said it a thousand times on this blog. Pumping excessive currency into the money supply results in a devalued currency.

Well, this is the fall out from our President pumping currency into the money supply. Now those who trade oil want to stop using the dollar as their currency.

The Story Via the U.K. Independent:

In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.

Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.

The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years.

The Americans, who are aware the meetings have taken place – although they have not discovered the details – are sure to fight this international cabal which will include hitherto loyal allies Japan and the Gulf Arabs. Against the background to these currency meetings, Sun Bigan, China’s former special envoy to the Middle East, has warned there is a risk of deepening divisions between China and the US over influence and oil in the Middle East. “Bilateral quarrels and clashes are unavoidable,” he told the Asia and Africa Review. “We cannot lower vigilance against hostility in the Middle East over energy interests and security.”

Ron Paul, of whom I have some disagreements on Foreign policy, has said since he was running for President and even prior to that; that what we are doing to our Economy is the moral equivalent of economic Jones-town massacre mass suicide —- and it turns out that the man was and still is absolutely correct.

Of course, the oil traders are denying that this is taking place; but of course! The last thing that they want is a mass panic by market investors!

Via Fox News:

The world’s oil producers will continue using the U.S. dollar as the currency for buying and selling crude, high-ranking oil and finance officials in the Gulf said on Tuesday, denying a report in a British newspaper.

Earlier, The Independent reported that Gulf Arab states, as well as China, Russia, Japan and France, are in secret talks to end the use of the U.S. dollar to trade oil, causing the American currency to fall in overseas trading Tuesday.

Qatar’s oil minister, Kuwait’s finance minister and sources in the United Arab Emirates and Saudi central banks all denied the report.

The Independent report is “absolutely incorrect” and there has been “absolutely nothing” of that nature discussed between Saudi Arabia, the world’s biggest oil exporter, and other countries, Saudi Central Bank Governor Muhammad al-Jasser told reporters in Istanbul.

We did not discuss this at all,” Russia’s deputy finance minister Dmitry Pankin said on the sidelines of International Monetary Fund meeting.

The newspaper report said, “Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.”

Lew Rockwell‘s Reaction to the story was not entirely surprising at all:

Though conservatives call this important story “Arabs Plot to Drop the Dollar,” it’s simply self-defense. Or are other peoples just supposed to be kicked in the teeth by the Fed and like it? China, Russia, Japan, France, and Gulf Arab states seek to substitute for the dollar in oil transactions a basket of currencies including the yen, the yuan, the euro, and gold. Heroic. I’d like to use that myself. In fact, why isn’t the Fed’s crazed monetary expansion called a plot to harm others and regular Americans, to the benefit of the US state and its bankster and corporate allies? And if it does indicate another step in “The Demise of the Dollar,” all the fault is in Washington, DC–as usual.

UPDATE From Ryan Cowles:

In light of this, see Ron Paul’s 2006 article on Dollar Hegemony

I could not have said it better myself. 🙂

A funny reaction from Vinnie over at the Jawa Report:

Oh well, I’m good. It takes me 3 minutes to drive to work in traffic. If they go off the dollar in the Scotch industry though, I’m taking up arms.

Heh. In my case, if they go off the dollar in steaks or in coffee; it’s on baby. You can ream my butt for Gas… Hell, I usually just put in five or so bucks to get me around town. Considering the fact, that I drive a piece of crap clunker. But we start fiddling around with my caffeine jolt, or my monthly or so splurge on a good steak; there will be war.

Sammy over at Yid with A Lid quips:

But wait a second this cant happen, don’t they know that Barack Obama is our president, they love him.

Yeah, They love him alright; with that knife behind their backs. If ol’ Big “O” thinks because he’s black and got a funny middle name, is going to stop the Arab Nations from royally screwing America. The President has another thing coming. The Arab nations have hated us; for taking their resources for decades, that goes back to before the President; and myself for that matter, were even born. So, the socialist liberals cannot scream BOOOOSH on this one. This even predates him too.

William Jacobson over at Legal Insurrection writes:

I would like to think someone in the Obama administration would be concerned, but honest reflection leads only to the conclusion that the lowering of U.S. international power will be music to Obama’s ears. He never misses an opportunity to lecture the world about the evils of domination by any one country, by which he means the United States.

A fiddler who is not oblivious to the fire, by any means.

So true, I mean, I have followed politics with some sort of interest since I started voting when I was 18 and I never, ever heard a President apologize for America, Ever. In another time period, President Obama would have been impeached for treason for saying something like that in another Country. But in this day of socialistic rule; nothing happens at all.

I guess time will tell on this one; if it happens, the results will be devastating to our economy. Let us home, for the sake of America, that this is nothing more than poorly sourced rumor story.

The Round Up: Fox News, The Moderate Voice, Guardian, Left Coast Rebel, Credit Writedowns, naked capitalism, Another Black Conservative, ParaPundit, Mish’s Global Economic …, YID With LID, RedState, Townhall.com, The Jawa Report, Le·gal In·sur·rec· tion and LewRockwell.com Blog (via Memeorandum)

Obama not happy with General McChrystal

Oy, this is not good.

According to sources close to the administration, Gen McChrystal shocked and angered presidential advisers with the bluntness of a speech given in London last week.

The next day he was summoned to an awkward 25-minute face-to-face meeting on board Air Force One on the tarmac in Copenhagen, where the president had arrived to tout Chicago’s unsuccessful Olympic bid.

Gen James Jones, the national security adviser, yesterday did little to allay the impression the meeting had been awkward.

Asked if the president had told the general to tone down his remarks, he told CBS: “I wasn’t there so I can’t answer that question. But it was an opportunity for them to get to know each other a little bit better. I am sure they exchanged direct views.”

An adviser to the administration said: “People aren’t sure whether McChrystal is being naïve or an upstart. To my mind he doesn’t seem ready for this Washington hard-ball and is just speaking his mind too plainly.”

In London, Gen McChrystal, who heads the 68,000 US troops in Afghanistan as well as the 100,000 Nato forces, flatly rejected proposals to switch to a strategy more reliant on drone missile strikes and special forces operations against al-Qaeda.

He told the Institute of International and Strategic Studies that the formula, which is favoured by Vice-President Joe Biden, would lead to “Chaos-istan”.

When asked whether he would support it, he said: “The short answer is: No.”

He went on to say: “Waiting does not prolong a favorable outcome. This effort will not remain winnable indefinitely, and nor will public support

via Barack Obama furious at General Stanley McChrystal speech on Afghanistan – Telegraph.

I’m with Jimmie over at the Sundries Shack; If I were serving in the Military right now and I were in the Afghan Theater. I would  be just a wee bit worried.

GrayHawk over at Mudville Gazette says:

Seriously, I can think of several alternatives to General McChrystal’s plan for carrying out the administration’s Afghan strategy, but certainly none I’d want my name associated with in any way, shape, or form. In D.C., no one in the administration (or the Pentagon) is willing to have their name associated with any alternative plan, but apparently many are willing to whisper to reporters that there is one and Biden thinks it’s great.

Just something to think about.

Oh Yeah,this is not going to end well, at all. Kind of like watching a train wreak. You hate to look; but curiosity just will not let you look away.

My Prediction: General McChrystal will tell ol’ big ears Bambi, to puff a damn root and will resign, which will leave the President and his staff twisting in the wind; let THEM be responsible for one of the biggest screw ups, since Vietnam.  I mean, seriously, would you want this whole debacle on your shoulders, and have on your conscience the lives of all those men; because the President is more interested in making himself look good; than he is actually interested in being the commander in chief? I think not.

Others Covering: JustOneMinute, American Spectator, And So it Goes in Shreveport, protein wisdom, Flopping Aces and Weasel Zippers (Via Memeorandum)

Cartoons of the Day

Call me strange but….

When I see Michelle Malkin and Lew Rockwell’s Blog writing the same funny stuff. I really have to wonder. 😮

Michelle Writes:

Some of my best memories are sitting on my dad’s lap, cheering on Olga and Nadia, Carl Lewis, and others for their brilliance and perfection.”

Um. Ew. Oof.

Mrs. Obama was 20 years old when Lewis first competed in the Olympics in 1984.

Senior White House adviser and Chicago slumlord overseer Valerie Jarrett promised earlier this week that “there wouldn’t be a dry eye in the room” after FLOTUS spoke.

She probably wasn’t expecting tears of…laughter.

Karen De Coster at Lew Rockwell’s Blog Writes:

A reader, Sal, pointed out that she said (starting at about the 1:00 point) some of her best memories were “sitting on her father’s lap, cheering on Olga, Nadia, and Carl Lewis…..” Her speechwriter needs to do much better. Carl Lewis first competed in the Olympics in 1984 when Michelle was twenty years old. She was bouncing on her father’s lap? Nadia Comaneci competed in 1976, when Michelle was twelve, and Olga Korbut in 1972, when Michelle was eight years old.

Heh… Well, I thought it was funny! Hmmm, Maybe there’s hope that the Libertarian and Republican Party rift can be healed after all! 😀 😉

…..well, a guy can dream, can’t he? 😛

Breaking News: Chicago eliminated from the 2016 Olympics, In the First Round!

Oh, this is too good. Mr. President Entitlement and his white hating wife went to Olympics; to basically demand that the Olympics come to Chicago.

…..and they were denied.

The Story via New York Times who is feeling is Heart-Ache:

The Olympics were awarded to a South American city for the first time, when the International Olympic Committee voted Rio de Janeiro as the host of the 2016 Games on Friday.

Rio de Janeiro was voted the winner over Madrid in the final round of voting, the I.O.C. having already delivered the an unexpectedly early knockout blow to Chicago, which was eliminated in the first round. Tokyo was ousted in the second.

I.O.C. president Jacques Rogge made the announcement the send crowds in Rio de Janeiro into celebration.

Tens of thousands of people began partying early in Rio on the Copacabana beach. Musicians played samba music from a main stage flanked by large screens, as people danced, held towering cones of cotton candy, and showed off the national colors of Brazil by donning yellow and green wigs or skimpy yellow and green bikinis. A big beach ball bounced around the crowd, marked with the words: “It’s Rio’s time.”

The scene had been entirely different in Chicago, where throngs in Daley Plaza gasped in disappointment when Rogge announced Chicago had been eliminated. It was a surprisingly early exit, especially because of President Barack Obama’s whirlwind trip to boost the bid of his adopted city. Mr. Obama was the first American president to make an in-person appeal for a bid city and first lady Michelle Obama had also come earlier this week to lobby I.O.C. members for votes.

Chicago’s bid leaders had worked for nearly four years and spent close to $50 million to bring the Summer Olympics to the United States for the first time in 20 years. Chicago had been considered among Olympic insiders as a favorite to win the Games, along with Rio.

Instead, the I.O.C. delivered a crushing blow to American hopes for the second straight time. New York’s bid was eliminated in the second round of voting for the 2012 Olympics.

United States Olympic Committee leaders appeared stunned by the news and had no comment as they left the voting hall. Mr. Obama was flying back to Washington at the time of the vote.

The In God We trust Blog reports that Glenn Beck predicted that it would not go to Chicago. Which really is not much of a surprise.

This video is just too freakin’ funny. One of CNN’s black Anchors has a breakdown because his black President got told no: (H/T AllahPundit)

Speaking of funny…. David Axlerod blames the G.O.P. Politics for Chicago getting passed over:

Top White House adviser David Axelrod says "politics" played a key role in the International Olympic Committee’s decision to reject President Obama’s appeal in support of Chicago’s bid to host the 2016 Olympics.

In an interview moments ago on CNN, Axelrod said, "I don’t view this as a repudiation of the president or the first lady. I think that there are politics everywhere, and there were politics inside that room." Axelrod said that a former head of the IOC was leading Madrid’s effort for the games, and others involved in other Olympic bids also had connections with the IOC. "As with any process like this, there are all kinds of crosscurrents in the room, there are relationships," Axelrod said.

Asked for details, Axelrod said, "I’m not suggesting anything nefarious…I’m not suggesting anything untoward happened. There are politics around every process, and there were here as well…There were relationships that paid off for some of the other cities."

Can you say, Heart-Ache???? The Bottom line is, you try and exploit; sometimes you get burned!

Here’s Axlerod crying in his… um, Beer:

Boo Freakin’ Hoo. I guess the "One" isn’t as all powerful as they thought. 😛

Does President Obama want to impose a VAT tax?

Great, that is all we need. 🙄

(H/T to Reason)

Does President Obama have a secret plan to raise taxes on middle-class Americans — and,well, pretty much everybody else — with a European-style, value-added tax? Actually, it’s not such a big secret. Connect the dots:

1) The joint statement from the just-concluded G20 Summit in Pittsburgh called for balanced global growth — which means Americans must spend less and save more and reduce its budget deficit.

2) That same weekend, John Podesta, co-chairman of Obama’s presidential transition team and an outside White House adviser, tells a Bloomberg reporter that a value-added tax is “more plausible today” than ever, adding that “there’s going to have to be revenue in this budget.” A VAT is a kind of consumption tax.

3) Yesterday, the Center for American Progress, the liberal think tank with close White House ties, holds a conference on the rising national debt. While speaker after speaker — Paul Krugman, Roger Altman, CAP President Podesta (again), Laura Tyson — admits entitlement spending must be reduced, they also agree that taxes must be raised. Altman suggests $400 billion in new tax revenue is needed almost immediately to calm financial market fears, and a VAT would be a great way of doing it. That’s $400 billion a year, by the way, not over ten years.

4) Also, yesterday was the first meeting of President Obama’s tax reform panel led by former Federal Reserve Chairman Paul Volcker. In a two-part interview with Charlie Rose airing yesterday and today, Volcker says that if Washington can’t get spending under control, either a VAT or a carbon tax would be effective revenue raisers. “Those are two big ones,” he says.

5) As they used to say in the Soviet Union, “It’s no coincidence.” This is also the conclusion of one Washington insider with ties to the White House economic team: “Does this all add up to a trial balloon? Of course, it’s a trial balloon. And I expect the administration will propose major tax reform, including a VAT.”

via James Pethokoukis – Obama’s not-so-secret plan to raise taxes

Terrific. First Obama wants to shove healthcare down our throats and then he wants to tax the living hell out of us; to pay for it. Fantastic. 🙄

Somewhere, John McCain is smiling. Because he warned America, that if they elected Obama to be President; that this would be the result. Did America listen? Of course not. Because of mean ol’ Bush; people wanted change. While I can understand the desire for change. But did America want this sort of change? Of course not. However, elections have consequences; and this is one of them.

Realistically however, I doubt that the White House would be able to get something of this nature. It just does not seem feasible. The reason being that Congress knows that they are on borrowed time.  The midterms are coming; and I highly doubt that anyone in Congress would be that crazy to try and pass anything of this nature. Heck, there already is great infighting over the “Public Option” in that healthcare bill. So, this would even lead to more that.

So, while it would not hurt to be vigil for something of this nature. I highly doubt that the Democrats are going to attempt to do something this hair-brained.

Andy Williams tells it like it is

I have to admit; I like ol’ Andy Williams:

Williams, a lifelong Republican whose hits include Moon River and Music To Watch Girls By, told the Radio Times he thought Mr Obama wanted to turn the US into a “socialist country”.

Andy Willaims

The 81-year-old was a friend of the Kennedy family during the 1960s and was present at the Los Angeles rally where Robert F Kennedy was assassinated in 1968.

“I was very close to Bobby and he asked me to be a delegate for him when he ran for president,” he said.

“He knew about me being a Republican, but just laughed and said, ‘Sign yourself in as a Democrat and then change back afterwards’. Sadly, I never got to do that.

“I was very close to Teddy Kennedy, too, and his death recently brought it all back. What a tragedy. Had he lived, I think Bobby would have been a great president.”

But Williams had a less favourable opinion of the current president.

“Don’t like him at all,” he said, “I think he wants to create a socialist country. The people he associates with are very Left-wing. One is registered as a Communist.

“Obama is following Marxist theory. He’s taken over the banks and the car industry. He wants the country to fail

via Andy Williams accuses Barack Obama of following Marxist theory – Telegraph.

I give Andy Williams credit; He has been around many a Democrat in his day; and he knows a damn Saul Alinsky socialist type, when he sees one. At this point in Andy’s career, he can say what he wishes and will not suffer for it. Saying this, however, will not endure him to the Hollywood crowd and he will most likely face scorn for it. But I give the man credit; Andy Williams sees what Obama is all about, and I think that is a good thing. Now if we could just get the rest of America to see what Andy and I see; then we would be getting somewhere.

Andy Williams is not the only Hollywood Conservative out there; there are many, in fact; there were a group of them in Hollywood. They were meeting and calling themselves the “Friends of Abe”. The list of Conservative Hollywood Stars is astounding; It includes: Mel Gibson, Tom Selleck, James Woods, Patricia Heaton, Andy Garcia, Gary Sinise, Arnold Schwarzenegger, Chuck Norris, LL Cool J, Freddie Prinze Jr. and Sarah Michelle Gellar, Dennis Miller, Denzel Washington, Robert Duvall, Catherine Bell, Danny Aiello, James Earl Jones, Ron Silver, Kelsey Grammer, Morgan Brittany, Ben Stein, Pat Boone, Kathy Ireland, Rick Schroeder and Bo Derek.

So, to say that Andy is alone is a fallacy. There are Hollywood actors that still love America. It is a pity that there is not more of them. I believe persecuting Hollywood stars for their political views is akin to McCarthyism. It should be outlawed and those who do it brought before Congress and forced to held accountable for their actions.  To blacklist someone for their political views is treasonous; it was when Senator McCarthy did it and it still is now.

May God Bless these Hollywood actors who dare to stand for something, that is morally right.

A must read for all Conservatives and, Yes, Blacks too!

I read this article, and the first thing I thought was, “I wish there were about couple hundred more of him!”

The rules set by the Left are extremely clear. Racist images of black conservatives and negative images of Bush are fair game. Even a play about murdering President Bush was called “harmless art”. Meanwhile, all unflattering images of Obama are racist, and constitute dangerous, potentially violent hate speech.

New York Times columnist Maureen Dowd called Congressman Joe Wilson a racist for saying, “You lie” to president Obama. Using her psychic powers, Dowd said Wilson was really saying in his mind, “You lie, BOY!” And yet, liberal commentator Julianne Malveaux, saying she hopes black conservative Supreme Court Justice Clarence Thomas’ wife “feeds him a lot of fatty foods so he will die early from heart disease like many black men”, was not considered racist. I am a black conservative singer, songwriter, entertainer and columnist. Liberals have posted comments all over YouTube and C-SPAN freely using and calling me the “N” word. Because they are libs and I am an uppity, off the liberal plantation, run-away black, all tactics to restore me to my owners are acceptable.

Here is another example of the Left setting the rules. “Take Back America!” is now on their list of racist terms we protesters are not allowed to use. Again using their psychic powers, the Left claims the protesters are really saying, “Because the president is black, lets take America back”! This is totally absurd. “Take Back America” refers to the hijacking of our freedoms, liberty and culture by an out of control administration.

via American Thinker: Stop Allowing The Left To Set The Rules.

Lloyd Marcus is throwing down the gauntlet and letting the Liberals know, that they’re on notice. I HIGHLY recommend that everyone read this one. WOW! 😮

Let me be clear, This is NOT cool at all Poll Yanked, Secret Service Investigating

(H/T Allen Colmes)

Some idiot tool has put up on facebook; a poll asking if the President should be killed or not.

If you have a facebook account; head on over and click on the “report” button.

If course, Colmes and the people over that the blog linked are trying to blame everyone on the right for the actions of this idiot. This of course, is collectivism and quite stupid.

I do hope, however, that the idiot that did this, is reported the secret service and ends up spending quality time in prison.

Update: AP Reports:

WASHINGTON—The U.S. Secret Service is investigating an online survey that asked whether people thought President Barack Obama should be assassinated, officials said Monday.

“We’re working with the U.S. Secret Service, but they’ll need to provide any details of their investigation,” Schnitt said.

Because the application was disabled, the responses to the nonscientific polls are not available.

“The third-party application that enabled an individual user to create the offensive poll was brought to our attention this morning,” said Barry Schnitt, Facebook’s spokesman for policy.

The question was not created by Facebook, but by an independent person using an add-on application that has been suspended from the site.

The poll asked respondents “Should Obama be killed?” The choices: No, Maybe, Yes, and Yes if he cuts my health care.

The poll, posted Saturday on Facebook, was taken off the popular social networking site quickly after company officials were alerted to its existence. But, like any threat against the president, Secret Service agents are taking no chances.

“We are aware of it and we will take the appropriate investigative steps,” said Darrin Blackford, a Secret Service spokesman. “We take of these things seriously.”

Good. I hope that they catch this idiot and put him UNDER the damn jail. Anyone that does something like this; does not deserve to be free! It is one thing to dislike the President’s policies. But to wish death on someone; is just fucking wrong. Good on facebook for their cooperation and the Secret Service for their prompt action!