USA Flat Broke; But Obama Will Bail Out Greece Again

President Obama and Chancellor Merkel

Washington DC, Jun 8, 2011. American President Barack Hussein Obama, D-Kenya, has urged Europe to prevent a default by Greece, and pledged U.S. support to solve Greece's debt crisis.

Obama, who met with visiting German Chancellor Angela Merkel, stressed the importance of German leadership on the issue, which means he wants Germany to help out too.

The President sees Greek debt aid as vital to to the recovery of the US economy.

Obama's poll numbers at home have suffered from persistently high unemployment, growing inflation, extremely high gas prices, staggering U.S. debt, and the continued devaluation of the dollar, but he has now blames the euro zone crisis as one foreign "headwind" hitting the U.S. economy.

"I'm confident that Germany's leadership, along with other key actors in Europe, will help us arrive at a path for Greece to return to growth, for this debt to become more manageable," Obama said.

As the  largest contributor to the IMF the United States taxpayer is on the hook for the second Greek bailout. Of course, the most deplorable part of this whole plan isn't just the fact that the U.S. is helping to bail out Greece... but that this bailout is really just one more bank bailout!

Americans are getting tired of bank bailouts

This proposal for a second Greek bailout package worth an additionl $160 billion is taking shape. Naturally, this will be funded by American taxpayers.

And the prime beneficiary will be the national banks of Germany and France who hold most of the Greek bonds that are at risk.

Merkel, under political pressure at home to avoid being the financial savior for other struggling European countries, said Germany understood its role.

"We've seen that the stability of the euro as a whole will also be influenced if one country is in trouble," she said.

This isn’t about the people of Greece.  They are going to be forced into years of austerity and painful economic times regardless of the situtation.  What this is really about is the $189 billion in Greek debt that the European banks have on their books.

President Obama wants to take this risk off the backs of the European banks and place it squarely on the shoulders of American taxpayers. He will either print more dollars or borrow more money from China to fund this European bank bail out.

We all know how well the last bank bailout worked for all of us.  With the banks reaping record profits and doling out record bonuses U.S. unemployment remains near its 25 year highs.   The only true recovery in this “recovery” has been the one in bank profits.

The bailouts sure worked great for Wall Street, but didn’t work that well for Main Street.

And make no mistake here – the people of Greece will be forced into years of painful austerity measures regardless of the outcome here.  The real winner here will not be the Greek people, it will be the huge national banks in Germany and France.

With U.S. unemployment at 9.1 percent, Obama has blamed outside forces for impeding the economy, including high fuel prices, the earthquake in Japan and the euro zone crisis.

"America's economic growth depends on a sensible resolution of this issue," he said.

"It would be disastrous for us to see an uncontrolled spiral and default in Europe because that could trigger a whole range of other events."

Obama welcomed Merkel at a formal ceremony on the White House lawn with firing cannons and military musicians adding to the pomp of an official visit.

Later in the evening Obama and his wife Michelle hosted Merkel and her husband, Joachim Sauer, for a state dinner, where the president awarded her the "Medal of Freedom" - the highest U.S. civilian honor.

"Tonight we honor Angela Merkel, not for being denied her freedom, or even for obtaining her freedom, but for what she achieved when she gained her freedom," Obama said.

What President Obama neglected to say was that Merkle only got her freedom because of the policies of President Ronald Reagan, which directly led to the collapse of the Soviet Union and the reunification of Germany. And these were policies that his party vigorously opposed.

Weiner Admits He Lied; But Still Refuses to Resign

NYC, Jun 7, 2011. Rep. Anthony Weiner, D-NY,  held a press conference yesterday to admit he gave false statements in regards to a lewd underwear photo he sent via twitter to a woman in Washington State last Friday.

“I have made a terrible mistake and am deeply sorry for the pain I have caused to my friends, family and especially my wife, Huma,” and “I have not told the truth and done things I sincerely regret.”

Weiner now joins the ranks of fellow Liberal Democrat Sleazeballs... Bill Clinton, Jim McGreevy, John Edwards, Gary Hart and Elliot Spitzer. What sets Liberal Democrat Sleazeballs apart from the Republican Sleazeball variety, is that the Democrats always make a big show about denying their indiscretions when caught, and then later fess up and seem to blame everyone but themselves.

Republican Sleazeballs, on the other hand, seem to sense they did something wrong, and then quickly resign and take their fate with some small amount of dignity. Weiner has adamantly refused to resign, using the Clintonesque logic that this was a personal matter, and doesn't effect his job performance.

In any case, there still is no benefit for the public in having Sleazeballs in high office.

Clinton outraged by Weiner

Former President Bill Clinton told us how shocked and saddened he was by Representative Weiner's behavior. He said that Liberal Democrats must repress their natural instincts to lie and cheat, and behave more appropriately.

"I just don't understand how a man can do this sort of thing. It is like he has absolutely no respect for his wife. Only a very insensitive and selfish man would do this to his wife and family," he told us.

To his credit, President Barack Hussein Obama, D-Kenya, has been relatively free of this type of personal behavior. His problems lie mostly in his burning drive to socialize and thereby destroy the American economy, destroy our relations with our allies, and drive up the percent of the population that depends on government for sustenance.

Before the press conference began, Andrew Breitbart, who first broke the story on his website BigGovernment.com, took the podium to answer questions from the assembled press for about 15 minutes.

“Everything we’ve reported about this … has been true,” Breitbart remarked. “I would like a personally apology from Congressman Weiner.” However, there will not be any apology from Weiner.

Breitbart confirmed he has one more photo of Weiner that he has not yet released, saying, “Suffice it to say it’s of an X-rated nature.”

wants apology

Minutes after Breitbart stopped taking questions, Rep. Weiner took the podium and began his statements.

Weiner said the initial photo in question was accidentally posted on Twitter at the end of May “as part of a joke to a woman in Seattle.”

When Weiner realized he had posted an inappropriate photo on Twitter, he “immediately deleted it.”

“I came here to accept full responsibility for what I have done. I am not resigning and people who judge me have a right to do so,” said Weiner. “My primary sense of regret – my apology – goes to my wife. I should not have done this, especially since I was married. I love my wife very much. We have no intention of splitting up over this,” Weiner went on to say.

When repeatedly asked about a reason for his actions, Weiner said, “If you’re looking for some type of deep explanation, I have none. I am just deeply sorry. Almost as soon as I told one lie I knew I would have to cover it by telling others.”

Rep. Weiner said the Blackberry device he used to send the messages was not government issued and most of the messages and correspondence was done on his home computer. Weiner also said the women he contacted for the most part were women he met on Facebook.

Weiner said before his press conference he spoke with Minority Leader Nancy Pelosi, indicating she was not happy and “told me as much. She’s very disappointed and told me she loves me and wants us to pull through this.”

Pelosi has now asked the House Ethics Committee to investigate Weiner, in a dramatic turnabout from her previous desire to give Weiner a pass and let the whole thing slide.

Weiner and his new bride Huma, a former aide to Secretary of State Hillary Clinton, have been married slightly less than a year.

It's save to assume that Huma and Hillary now have a lot more in common than they did a few weeks ago. Both married sleazy Liberal Democrats, and both ended up humiliated by them.

The only open question right now is whether Huma Weiner will
"stand by her man" like Hillary Clinton did. I suppose we will soon find out.

Actor Peter Fonda Denounces President Barack Obama

Cannes, France Jun 6, 2011. Peter Fonda launched a four-letter attack on US President Barack Obama, D-Kenya, at last month's Cannes film festival.

Fonda called him a traitor over the handling of the aftermath of the Gulf oil spill last summer.

Fonda, a Hollywood leftwinger, who starred in the 1969 cult classic road movie "Easy Rider" was in Cannes for the premiere of "The Big Fix" by Rebecca and Josh Tickell.

The actor is an outspoken environmentalist and co-producer of the film which centers on the explosion of the BP oil rig Deepwater Horizon, the ensuing spill and its consequences, accused Washington of trying to gag reporting on the issue.

Fonda said: "I sent an email to President Obama saying, 'You are a f(expletive) traitor,' using those words... 'You're a traitor, you allowed foreign boots on our soil telling our military -- in this case the coastguard -- what they can and could not do, and telling us, the citizens of the United States, what we could or could not do'."

Fonda, who said he sent the email last month, appears in "The Big Fix" trying to get on to Louisiana beaches to assess the impact of the biggest oil spill in US history, only to be turned away by BP clean-up personnel.

Speaking at a press event at the American Pavilion to promote the film, Fonda denounced BP as "a bunch of Brits. I thought we kicked them out a long time ago. They tried to get back in in 1812, but they didn't make it."

Peter Fonda is the brother of actress Jane Fonda, who became famous for supporting the Viet Cong in their war against South Vietnam and the USA in 1972.

After making radio propaganda broadcasts for the North Vietnamese, Miss Fonda stated that the American POWs were:

"liars" and "military careerists and professional killers" who are "criminals according to the law."

Congress Rigs Stock Trading Rules... For Itself.

Washington DC, Jun 5, 2011. Most people think that insider trading rules that sent Martha Stewart to federal prison apply to everyone. Unfortunately, they don't.

Members of Congress and their staffs are exempt from these laws. They can use insider information to buy and sell stocks at their advantage. It is all perfectly legal.

This is because the SEC has no authority to regulate Congress, and the Congress has chosen not to regulate itself.

For example, Congressional aide Chris Miller nearly doubled his $3,500 stock investment in a renewable-energy firm in 2008. It was a perfectly legal bet, but it's one that no ordinary investor could make.

Mr. Miller was the top energy-policy adviser to Senate Majority Leader Harry Reid, D-NV, who helped pass legislation that wound up benefiting the firm.

Jim Manley, a spokesman for Mr. Reid's office, initially defended Mr. Miller's purchase of shares in the company, Energy Conversion Devices Inc. He said the aide had no influence over tax incentive

But eventually, Mr. Manley added: "Mr. Miller showed poor judgment and Senator Reid has made it very clear to Chris and all his staff that their actions must not only follow the law, but must meet the higher standards the public has a right to expect from elected officials and their staffs."

Mr. Miller isn't the only Congressional staffer making such stock bets. At least 72 aides on both sides of the aisle traded shares of companies that their bosses help oversee, according to a Wall Street Journal analysis of more than 3,000 disclosure forms covering trading activity by Capitol Hill staffers for 2008 and 2009.

The Journal analysis showed that an aide to a Republican member of the Senate Banking Committee bought Bank of America Corp. stock before results of last year's government stress tests eased investor concerns about the health of the banking industry.

A top aide to the then House Speaker Nancy Pelosi, D-CA, profited by trading shares of Freddie Mac and Fannie Mae in a brokerage account with her husband two days before the government authorized emergency funding for the companies.

The aides identified by the Journal said they didn't profit by making trades based on any information gathered in the halls of Congress. Even if they had done so, it would be legal, because insider-trading laws don't apply to Congress.

A few lawmakers proposed a bill that would prevent members and employees of Congress from trading securities based on nonpublic information they obtain. The legislation has languished since 2006.

"Congressional staff are often privy to inside information, and an unscrupulous person could profit off that knowledge," says Vincent Morris, a spokesman for Rep. Louise Slaughter (D., N.Y.), a leading backer of the "Stop Trading on Congressional Knowledge Act," or STOCK Act. "The public should be outraged there is no law specifically banning this."

When the bill was introduced nearly six years ago, just 14 other lawmakers endorsed it. The current version of the bill has fared worse: Only nine lawmakers support it. There is no companion legislation in the Senate.

Congressional aides have ringside seats on the making of laws that affect American business. Receiving salaries up to roughly $170,000 a year, they can glean information about policies and government action before the public does. They have access to information about hearings or legislation that can move stocks and markets.

Unlike many Executive Branch employees, lawmakers and aides don't have restrictions on their stock holdings and ownership interests in companies they oversee. Congressional rules say that requiring employees to do so could "insulate a legislator from the personal and economic interests that his or her constituency, or society in general, has in governmental decisions and policy." This means that they - like Wall Street titans - are incentivized to lie, cheat and steal.

It is perfectly legal for Members of the House and the Senate, and their staffs, to trade on insider information. But... do these generous rules extend to the executive branch as well?

It isn't supposed to, but you have to wonder what's going on when President Barack Hussein Obama, D-Kenya, could earn $374,460 in wages in 2009, and somehow end up with "business profits" of $5,173,777 more.

Obviously, President Obama is not only "bright, articulate, and clean" but he is also a very gifted investor.

We will never know precisely how President Obama was able to make so many good investments, because the media refuses to investigate his finances.

They apply an entirely different standard to him than they did to former President Bush.

Housing Prices Down 33% to Record Low

Foreclosures are at record highs

NYC, Jun 4, 2011. The latest S&P/Case-Shiller house price index reports that US housing price declines are now greater than those during the Great Depression.

There was a very brief recovery in prices in 2009 that was caused by the government's $8,000 first time buyer government incentive.

But sadly, this has now been entirely erased, and the average American home now costs 33 per cent less than it did in 2007, when the Democrats first took control of both houses of Congress.

The fall in house prices in the 1930s Depression was 31 per cent, and those prices took 19 more years to fully recover after the Depression.

According to recent economic indicators, the US economy is falling deeper and deeper into recession, with no apparent relief caused by President Barack Hussein Obama's, D-Kenya, lavish stimulus spending. Apparently, there really were no "shovel ready jobs" created.

The President cannot explain his failure to solve problems

President Obama made no specific mention of the disappointing jobs report this week, or the fact that the unemployment rate ticked upward.

The Chicago PMI manufacturing index showed a sharp slowdown in the pace of expansion in May, missing Wall Street forecasts and sending the index to its lowest since November 2009.

And in the latest Conference Board consumer confidence survey more people expressed uncertainty over their future economic prospects.


The confidence index fell unexpectedly to 60.8 from a revised 66.0, when economists had expected it to rise to 67.0.

Falling house prices and negative equity combined with high petrol and food prices and a still-weak jobs market to raise consumers' fears for the future.

Based on the weakness in housing prices, Chicago PMI and consumer confidence, it appears as though the economy could be headed for a double dip, especially as federal and state spending slows rapidly over the next six months

Economists warned not to expect any immediate relief to the gloom from the housing market. Banks continue to demand high deposits from potential buyers and are pressing on with foreclosures against those who have fallen behind on mortgages, adding to the glut of unsold homes on the market.

Unemployment rates continue to climb

Prices are back to their 2002 levels, according to the Case-Shiller National House Price Index out yesterday.

"The national index fell 4.2 per cent over the first quarter alone, and is down 5.1 per cent compared to its year-ago level," David Blitzer, the chairman of the Index Committee at S&P Indices, said.

"Home prices continue on their downward spiral with no relief in sight."

Moody's Threatens to Slash U.S. Credit Rating

President Barack Owebama

NYC, June 2, 2011. Moody's Investor Services, one of the two major global credit rating corporation, is saying that if there's no imminent progress on the debt ceiling fight, the US credit rating will be cut.

The company ranks the credit-worthiness of borrowers using a standardized ratings scale. The US current has a credit rating of AAA, the highest possible rating. If they lower the credit rating for the United States, and this is starting to look very likely, then there could be profound implications.

This news comes after Standard and Poor's, the other major credit rating firm, had cut its long-term outlook on US debt to negative on April 18th.

Any rating downgrade, would leave Germany and France with a higher rating, and would erode the status of the United States as the world's most powerful economy and the US Dollar's role as the dominant global currency.

Since President Barack Hussein Obama, D-Kenya, was elected, the U.S. has gone on a borrowing and spending spree that was unprecedented in our history. During his first two years in office, President Obama added more to our national debt than President Bush did in his eight years in office.

President Obama told us all this big spending was necessary, in order to stimulate the economy and create new jobs. And he is requesting even more spending for next year's budget. This will mean even bigger budget deficits.

Sadly, all this free spending has gotten us very little. There still are 13 million unemployed, and the Great Recession shows no signs of abating. The housing market is still depressed, losing another 5% of home value this year. Consumer confidence is way down, and almost two thirds of the likely voters polled say "the nation is going in the wrong direction." President Obama's solution? Spend even more.

Interest on National Debt

If our credit rating is downgraded, we will be paying higher interest rates for each dollar we borrow. This year we will be paying close to half a trillion dollars in just interest alone on our national debt. A credit downgrade could send that number soaring much higher.

Even if a downgrade is somehow postponed, it's still enough to scare investors from holding or buying dollars. This could result in a massive dumping of dollar assets, as investors switch to higher rated investments for more safety.

Opinion: Why The Black Vote Is Irrelevant

Democrats used attack dogs on Civil Rights marchers

In the 2008 Presidential election 95% of the black vote went to the Democrats. And this was not unexpected.

This was only slightly more than the Democrats usually get in presidential elections, and was likely due to  Democrat candidate, Barack Hussein Obama, D-Kenya, being part black.

Normally, the lion's share of the black vote goes to Democrats. You would have to look back more than half a century ago to find the last time the Party of Lincoln carried the black vote.

In 1984, when Republican Ronald Reagan won in a landslide, winning in 49 states, the Democrats still got 91% of the black vote. Similarly, in 1972 when Republican Richard Nixon won in another landslide, getting an unheard of 70% of the popular vote, the Democrats still got 64% of the black vote.

They used fire hoses on protestors

This all started when the Democrat Party, who had long been the ones who gave us the Ku Klux Klan, Black Codes, Poll Taxes, Segregation, Jim Crow Laws and other repressive legislation transformed themselves.

They became the party that was all for welfare rights, government housing, government healthcare, affirmative action quotas, and generally for more lenient treatment for criminals, many of whom were black.

The Democrat Party very skillfully managed to make their own history irrelevant, by reinventing themselves as the black voter's best friend. And it worked so well that the Democrats today completely own the black vote.

There is absolutely nothing that Republicans can do to capture the black vote now. So they have stopped wasting their time trying. They have written it off, and they work around it.

The net effect of this has been twofold.

First, the Democrat Party benefits greatly by owning the black vote. This is a voting block they can count on, no matter what they do or don't do. They can lie to these voters and they will still get their votes. They can promise them anything and not deliver it. This is the most reliable Democrat Party voting block, and can be taken for granted without any real risk of losing their votes.

And this leads directly to the second consequence, which is much more significant for black voters: their votes are NOT in play. They now have no seat at the table, and have effectively disenfranchised themselves by not being up for grabs. The Democrats will take them for granted and the Republicans will write them off, and work around them.

If a group wants political power in America, then their votes must be available. And this applies to any group, not just racial groups. For example...

Organized Labor - This group, while mostly voting Democrat, will switch back and forth, brokering for the best deal they can get. Take the Teamsters Union, as an example. Their votes are in play, and are available to the highest bidder. While it's true they supported Clinton, Gore, Kerry and Obama, they also supported Nixon and Reagan. This is precisely how a small group can have influence; the textbook definition of political power.

The NRA - While mostly supporting Republicans, they will support and even donate campaign money generously to Democrats if they support the right to bear arms. They have been very successful in blocking or watering down gun control laws by swinging their support to individual candidates who support their views, rather than political parties who may or may not always be with them.

Independent Voters - these are the most powerful voters in America today, because they hold the balance of power. They decide every single election, and around 95% of every campaign dollar spent is aimed directly at them. They are the swing voters who have no particular party allegiance. While 40% of us vote Republican, and 40% of us vote Democrat, it is the other 20% who determine the outcome. This is the group who will decide whether President Obama wins reelection, because everyone else is either solidly for or against him.

It is a complete myth to think that black people elected Barack Obama in 2008. They simply do not have enough votes to do it, they don't contribute enough money to make any real difference, and they don't do enough campaign volunteering to sway the results.

MLK was a Republican, who was wiretapped by Democrats

They are still only 12% of the population, and 10% of the people who actually turn out to vote.

It was a coalition of mostly liberal white voters and a great many independent white voters who wanted some sort of change who elected Obama.

The bottom line is pretty clear. If black voters want political power, then they must put their votes in play.

And it doesn't look like that will happen any time soon.