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									http://www.aim.org/aim-column/obama-sells-u.s.-to-china-inc/

http://www.dcexaminer.com/opinion/blogs/TapscottsCopyDesk/GAO-says-Tr
easury-still-not-adequately-accounting-for-TARP38748632.html

http://www.gao.gov/new.items/d09296.pdf




America’s unemployment rate could top 10 percent under the Employee Free
Choice Act (EFCA), if it boosts union membership as much as some
supporters have predicted, according to a new economic study.

* Obama remains personally popular with the public, but worries and even
outright opposition to some of his cornerstone proposals are growing.
Democrats in Congress are even beginning to express in public print their
worries that Obama has reached too far with the $787 billion economic
stimulus package, the $410 billion omnibus spending bill and the $3.6 trillion
budget proposal (and the trillions more senior aides whisper are coming in
further bailouts, loan guarantees, "tax cuts" that are really just grants, and
other spending accountrements of Leviathan Unleashed.


"The second column appeared today in The Washington Post and was written
by Charles Krauthammer. Obama's mastery of public speaking has
heretofore served to deflect attention away from the details of what he is
actually proposing. And there is in those details, according to
Krauthammer, a fundamental deception: Obama summons visions of
catastrophe that are the result of too little government regulation of the
financial markets and he offers as a solution vastly more government
regulation of .... health care, energy and education"

and

"Now, though, the mask is off and the disconnect between rhetoric and
reality is emerging as the dominant driver of the Obama narrative. The
contrast is no longer between the young, personable, historic candidate
Obama and a creaky, cranky old Republican White Guy, it's between what
America thought it was getting in a President Obama (cool, reasonable and
beyond partisanship) and what it now sees as the reality of a President
Obama (government spending out of control, an uncertain hand on foreign
policy, broken promises, more bureaucrats, etc. etc.)."

http://www.dcexaminer.com/opinion/blogs/TapscottsCopyDesk/Obama-is-in
-trouble-40864502.html




"Treasury has continued to develop a system for detecting noncompliance with key
requirements of the program but has not yet finalized its plans. Further, Treasury has
made limited progress in formatting articulating and communicating an overall strategy
for TARP, continuing to respond to institution- and industry-specific needs by, for
example, making further capital purchases and offering loans to the automobile
industry. In addition, it has not yet developed a strategic approach to explain how its
various programs work together to fulfill TARP’s purposes or how it will use the
remaining TARP funds. While GAO does not question the need for swift responses in
the current economic environment, the lack of a clearly articulated vision has
complicated Treasury’s ability to effectively communicate to Congress, the financial
markets, and the public on the benefits of TARP and has limited its ability to identify
personnel needs."
In other words:
* The President and Congress approved spending $700 billion without
requiring that before any of the funds are spent there would be a system in
place "for defecting non-compliance with key requirements of the program."
* Four months after passage, Treasury still hasn't finalized an "overall
strategy" for spending the $700 billion, even though nearly half of the funds
are already spent. Only in government is the guiding principle "spend first,
explain later."
* Four months after passage, Treasury still cannot "how its various
programs work together to fulfill TARP's purposes, or how it will use the
remaining TARP funds."
For the record, GAO reports that Treasury has so far spent $293.7 billion of
the $700 billion, with most of that total going to buy preferred shares in 317
financial institutions. In other words, the government has bought shares in
317 private financial institutions, a step that could easily become a
landmark toward nationalizing those firms.

Take Ben Bernanke. Back in March of 2007, he said: "The problems in the
subprime market seems likely to be contained."
Or how about the former economist for the National Association of Realtors,
who said back at the peak of the housing market in 2005: "All of the doom
and gloom forecasts of a housing debacle are not only irresponsible, but also
downright wrong."

February 2007, this group of soothsayers predicts a 22 percent chance of a
recession. Turns out there was a 100 percent chance of them being wrong.

 
 February 2008, the recession was already three months old, but the
average guess from the economists was that there was just a 48.9 percent
chance we'd see one. 
 
 October 2008, the recession was now almost a
year old and these guys still can't all see it: They upped their prediction to
89.3 percent. 
 
 The lesson here should be obvious: Ignore advice from
anyone who's offering it for free. It's like getting an eye exam from Mister
Magoo. Why is anyone still asking them?




  Don't be fooled by the liberal rhetoric of a New
America and President Barack Obama's "Yes, we
can" speeches.

   The Liberals now control Washington and we
know what that will mean: The greatest assault on our
freedoms, our wealth and our lives in history!

   And knowing the real story about new threats to
your wealth and health in the days ahead is
especially important because the Liberals led by
Barack Obama plan to turn up the heat on the
"little guy" and make a killing for themselves.
   Plus, getting ready for a new attack on your
freedoms, your wealth and your health by the
most liberal, socialist administration in U.S. history
is more important than ever. Because those who
get suckered by the liberal rhetoric are about to be
blindsided!

  I hope you'll keep reading, because I'm going to
tell you how you can not only survive this liberal
onslaught—but prosper. That's right—you can
make up for money you've lost in the market over
the last six months and profitably build your nest
egg while most peoples' fortunes flounder.


    How to double your money in the great "boom"
   ahead... 
 despite the coming liberal bloodbath


   Unstoppable forces will continue to explode in the
next six months and beyond, hammering most
investors' hopes and dreams. But you can grow rich
no matter how bad things get due to these forces AND
a liberal administration.

  Three economic juggernauts have been
unleashed, triggering a bloodbath that's
obliterating the average investor. Then add in the
most liberal, freedom-stealing, spendthrift
administration about to take control in Washington
and you're about to see more Americans lose their
pensions, their homes and their retirement dreams
than in any time since the Great Depression.

   And don't be fooled by liberal rhetoric of a "new
beginning" or a "yes, we can" mantra. The
American people voted for change, but most of
them are going to be shocked because that change
is going to result in the greatest assault on our
freedoms, not to mention new higher taxes and
new restrictions on our lives that'll make the last
eight years seem like the good ol' days.

  The new liberal administration will tell you
another story and promise to use any means (i.e.,
bailouts, new "rescue" program for mortgages,
lowering of interest rates or printing more money)
to slow down the onslaught.

  But their tricks won't work. The truth is, three
converging forces have put the economy on the
brink of a depression—and for most people, things
will get a lot worse before they get better.

  Yet the news is not all bad. You can survive and
double your money sooner than you'd think...but
only if you think outside of the box. In a moment,
you'll read about some hidden investment
"doublers" you're not hearing from your broker.
  But first, I want you to have a clear
understanding of...

   Juggernaut No.1:
   The ominous debt crisis
   As a country and as individuals, we're drowning
in debt.

  Our national debt is reported to be
$9,371,054,016,550 and it grows $1 million every
minute! It's the third largest expense in the
Federal budget.

   Yet according to The Institute for Truth in
Accounting, the true national debt is over $50
trillion dollars! That's more than FIVE TIMES what
is reported!

  But the U.S. government never intends to pay
this debt—it will simply try to inflate this debt
away. The bad news? No Social Security, no
Medicare and no pensions for you if you depend on
the government to take care of you!

  If that's not bad enough, consumers are up to
their eyeballs in debt—many are even living off
their credit cards. Some 641 million credit cards
are in circulation and the average credit card debt
has doubled in the past decade. Today, the
average family owes more than $8,000 in credit
card debt.

  What's ahead? We're entering what I call the
"Weimar Republic No. 2." We're repeating history.
In the 1920s, the German Weimar Republic printed
money to dilute and wipe out their WWI
reparations debt to the Allies. The result was
worthless paper money and the impoverishment of
the people.

  In the same way, the Fed is bailing out trillions
of Wall Street debt obligations by creating more
money—and the results will be the same.

   The U.S. dollar has fallen like a rock, especially
in the last 18 months. Foreign banks are dumping
their U.S. dollars in favor of other currencies, as
well as gold. And for the first time, legendary
investor Warren Buffett is heavily invested in
foreign currencies because they're in a bull market
compared to our dollar. Our buying power is
shrinking fast!

  But this debt crisis isn't the only problem we're
knee deep in right now...

  Juggernaut No. 2:
  The worsening housing crisis
  In the days past, even though the economic
outlook may have looked bleak, the booming real
estate market helped keep the market afloat.
Those days are long over!

  Back in 2004, I predicted a housing crisis right
around the corner and boy was I right! And this
weak housing market has sparked a recession
which is now on the verge of a depression.

  How bad have things gotten? A combination of
lax lending standards and declining home prices
has led to these problems:

  In the last 12 months...

 Home foreclosures nationally are up more than
   57%. It's much worse in states like California
   where foreclosures rose 370% in the first
   quarter of 2008 alone!

 Bank "repos" are up nearly 129%!

 Single family permits to build new homes are
    down more than 43%!

  And in most markets home prices are falling like
crazy. And they're predicted to continue falling!

  Worse, the government's programs to help
struggling borrowers avert foreclosure have been
bust. For example, its Hope for Homeowners
program was launched Oct. 1, 2008, to help up to
400,000 homeowners refinance bad loans and
lower their monthly payments. But it's only closed
25 loans... since its inception!

  The debt and housing crisis also set the stage
for...

  Juggernaut No. 3:
  The ongoing stock market crisis
  At this writing, gas prices are half of what they
were this past summer—and that has most
consumers rejoicing.

  But beware. Falling prices are a sure sign of
deflation. This is a downward drift in prices that
will put the kibosh on corporate profits. Worse, it
could devalue your stock investments faster than
you can say, "$2-a-gallon gas."

  Yes, we're in a deflationary period right now, but
you can be sure that INFLATION is right around
the corner.

   If you think the market's on a slippery slope
right now, wait until inflation strikes back!

  Early last year, we got a glimpse of inflation's
threat to the stock market. In April 2008,
wholesale inflation was twice what economists
expected. If that wasn't bad enough, inflation
(outside of food and energy) rose 3% over a
12-month period ending in November 2008, the
fastest increase since 1991. Soon after, the market
tanked.

  Don't be fooled when the stock market surges
400, even 500 points in a day or week. It's only a
respite before the resumption of bad times.

  I have no doubt... the three unstoppable
juggernauts will continue to explode in the next six
months and beyond, hammering most investors'
hopes and dreams.

  But, you'll grow richer no matter how bad things
get and no matter how onerous the new liberal
administration turns out to be.


   One simple secret for making money
 any time in
                    any market


  What is this secret? It's something I've been
preaching for 39 years: "The trend is your friend."
Remember this and you'll grow rich.

  Sounds easy enough, right? But most people
miss the trends.
  In fact, bull markets always climb the wall of
worry (buy when others are fearful of that
market)... and bear markets always slide the slope
of hope (get out when everybody else is getting
in).

  That's why I believe in investing against the
grain. This is where you can make a fortune in any
market.

  And where is the trend right now? It's in the
hidden bull markets of gold, silver, oil, raw
materials, energy and other commodities.

   Plus, as we're already seeing, President Obama's
infrastructure program, the largest U.S. public
works spending program since the creation of the
interstate highway system 50 years ago, will give
raw materials and commodities a kick in the pants.

  Just on the news of Obama's plan to rebuild the
national infrastructure—with a focus on
construction and communications—the world's
biggest aluminum maker, Alcoa, surged 13% and
while heavy machinery maker Caterpillar soared
14%.

  Add this surging demand for raw materials to a
severe shortage of commodities such as gold, and
you have the makings of a spark to fire up the
next big commodities boom. For example, gold
coins are in such a short supply today, it's setting
up a possible panic run on gold—which will send
gold prices through the roof once again!

  Since the 2000 bear market, my readers and I
have made a killing in these hidden bull markets.
For instance we've made...

 378% gains in oil... when I gave the buy signal at
   $28/barrel...

 272% gains in gold... when I gave the buy signal
   at $252 gold...

 348% gains in silver... when I gave the buy
   signal at $4...

 68.5% gains in Agnico Eagle Mines... when I gave
   a buy at $40.65...

 121.79% gains in BHP Billiton... when I gave a
   buy at $37.16!


   Knowing the other side of the story about health
and wealth in the days ahead is especially
important because the Fat Cats in medicine,
finance and government plan to turn up the heat
on the "little guy" and make a killing in profits
themselves.

   They figure there are plenty of average
Americans who'll be the next sucker at the poker
table, the next patsy ready to be conned, who'll
blindly follow them and pay for their "expertise."

  But the coming years don't have to be that way
for you. The fact is you can live independently healthy
and wealthy for the rest of your life!

   What does that mean? It means you'll never
again worry about money and never again rely on
slick stockbrokers, tightfisted bankers or the
greedy government to take care of you. It means
enjoying a rich, prosperous life now and in the
future... on your own terms!




Obama's Sales Pitch Analyzed
February 9th, 2009 • Richard Cochrane
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President Barack Obama had it both ways Monday when he
promoted his stimulus plan in Indiana and later at a
preprogrammed prime-time news conference . In Elkhart, Indiana
that has been the capitol of RV vehjicle manufacutuering – that
virtually nobody wants to buy – he talked about getting Congress
to produce a package with no pork, yet boasted about money for
local posk.
Obama's sales pitch on the enormous package he wants
Congress to make law has sizzle as well as steak. He's projecting
job creation numbers that may be impossible to verify and
glossing over some ethical problems that bedeviled his team.
In recent years, the so-called Bridge to Nowhere in Alaska came
to symbolize the worst excesses of congressional earmarks, a
device that allows a member of Congress to add money for local
projects in legislation, practically under the radar. That’s what’s
going on with the so-called Hoosier freeway going from nearly
noplace to nowhere many folks want to go.
Ceidt where due says there is nothing like the infamous Alaskan
bridge to nowhere contained in Obama’s stimulus package. That's
not to say the package steers clear of waste or parochial
interests.
A tri-authored AP article described Obama’s Elkhart meeting and
subsequent as following:
       ·   OBAMA: "Not a single pet project," he told the
       news conference. "Not a single earmark."
       He said in Elkhart: "Understand, this bill does not have
       a single earmark in it, which is unprecedented for a bill
       of this size. … There aren't individual pork projects
       that members of Congress are putting into this bill."
       ·     THE FACTS: There are no "earmarks," as they are
       usually defined, inserted by lawmakers in the bill. Still,
       some of the projects bear the prime characteristics of pork
       _ tailored to benefit specific interests or to have thinly
       disguised links to local projects.
For example, the latest version contains $2 billion for a
clean-coal power plant with specifications matching one in
Mattoon, Ill., $10 million for urban canals, $2 billion for
manufacturing advanced batteries for hybrid cars, and
$255 million for a polar icebreaker and other "priority
procurements" by the Coast Guard.
Obama told his Elkhart audience that Indiana will benefit
from work on "roads like U.S. 31 here in Indiana that
Hoosiers count on." He added: "And I know that a new
overpass downtown would make a big difference for
businesses and families right here in Elkhart."
U.S. 31 is a north-south highway serving South Bend, 15
miles from Elkhart in the northern part of the state.
·   OBAMA: "Most economists, almost unanimously,
recognize that even if philosophically you're wary of
government intervening in the economy, when you
have the kind of problem you have right now …
government is an important element of introducing
some additional demand into the economy."
FACT: True, economists believe government should act.
But while many believe government spending is the
answer, there is hardly unanimity on what to do, and
Obama may have overstated conservative support.
In a recent newspaper ad, 300 economists signed up
against the stimulus promoted by the president. "Lower tax
rates and a reduction in the burden of government are the
best ways of using fiscal policy to boost growth," they
wrote.
Martin Feldstein, a conservative economist at Harvard
University and president emeritus of the National Bureau of
Economic Research, has advocated a stimulus package in
the past, but he argued recently that the package before
Congress "delivers too little extra employment and income
for such a large fiscal deficit."
·     OBAMA: "They'll be jobs building the wind
turbines and solar panels and fuel-efficient cars that
will lower our dependence on foreign oil and
modernizing our costly health care system that will
save us billions of dollars and countless lives."
THE FACTS: The economic stimulus bill would allocate
about $20 billion to help hospitals and doctors transition
from paper charts to electronic health records for their
patients. Research has shown that in some instances,
electronic record keeping can eliminate inappropriate
services and improve care, but it's not a sure thing by any
means. "By itself, the adoption of more health IT is
generally not sufficient to produce significant cost savings,"
the Congressional Budget Office reported last year.
·   OBAMA: "We also inherited the most profound
economic emergency since the Great Depression."
THE FACTS. This could turn out to be the case. But as bad
as the economic numbers are, the unemployment figures
have not reached the levels of the early 1980s, let alone
the 1930s _ yet. A total of 598,000 payroll jobs vanished in
January _ the most in nearly 35 years _ and the
unemployment rate jumped to 7.6 from 7.2 percent the
month before. The most recent high was 7.8 percent in
June 1992.
And the jobless rate was 10.8 percent in November and
December 1982. Unemployment in the Great Depression
ranged for several year from 25 percent to close to 30
percent.
·    OBAMA: "I've appointed hundreds of people, all
of whom are outstanding Americans who are doing a
great job. There are a couple who had problems before
they came into my administration, in terms of their
taxes. … I made a mistake … I don't want to send the
signal that there are two sets of rules."
He added: "Everybody will acknowledge that we have set
up the highest standard ever for lobbyists not working in
the administration."
·     THE FACTS: Two of his appointees, former Senate
Democratic leader Tom Daschle for secretary of health and
human services and Nancy Killefer as his chief compliance
officer, dropped out after reports they had not paid a
portion of their taxes.
·    Obama previously acknowledged he "screwed up" in
making it seem to Americans that there is one set of tax
compliance rules for VIPs and another set for everyone
else. Yet his choice for treasury secretary, Timothy
Geithner, hung in and achieved the post despite having
belatedly paid $34,000 to the IRS, an agency Geithner now
oversees.
That could leave the perception that there is one set of
rules for Geithner and another set for everyone else.
On lobbyists, Obama has in fact established tough new
rules barring them from working for his administration. But
       the ban is not absolute.
       William J. Lynn III, tapped to be the No. 2 official at the
       Defense Department, recently lobbied for military
       contractor Raytheon. William Corr, chosen as deputy
       secretary at Health and Human Services, has lobbied as
       an anti-tobacco advocate. And Geithner's choice for chief
       of staff, Mark Patterson, is an ex-lobbyist from Goldman
       Sachs.


           ·    OBAMA: "The plan that we've put forward will
           save or create 3 million to 4 million jobs over the
           next two years."
           ·   THE FACTS: Job creation projections are
           uncertain even in stable times, and some of the
           economists relied on by Obama in making his forecast
           acknowledge a great deal of uncertainty in their
           numbers.
Beyond that, it's unlikely the nation will ever know how many jobs
are saved as a result of the stimulus. While it's clear when jobs
are abolished, there's no economic gauge that tracks job
preservation.
Rather than piling a TRILLION (ONE MILLION MILLION
DOLLARS) into such a plan send a check for $2,700 to every
man, woman an dchild in America.
Last 5 posts by

 Americans Split on Obama $3.6 Trillion Budget - March 6th, 2009
 One Third Say They Need Government Help To Earn Living. - March 6th,
    2009
 Biden Pledges to End Secret Union Balloting at "Secret" AFL-CIO Confab
     - March 6th, 2009
 Top Ten Worst Cures. - March 6th, 2009
 Obama Policies Feed Market Panic - March 6th, 2009




Obama Policies Feed Market Panic
March 6th, 2009 • Richard Cochrane
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Since Barack Obama was sworn in as president on Jan. 20, stocks have
tumbled to record lows - with investors losing an estimated $2.5 trillion in
market value.The trend continued Thursday, with the Dow closing down
281 points, a 4.1 percent drop for the day. Since Inauguration Day, the Dow
has fallen 20.4 percent.

All week, negative headlines have competed with the slumping market
ticker, including early news Thursday that General Motors might well go
bankrupt despite billions in taxpayer loans.

As selling sped up, Citigroup traded at one point under $1 a share, General
Electric dipped under $7, and international financial names like Barclays
saw declines of nearly 30 percent on the day.

"Everybody is so bearish right now that you would expect to be in the midst
of a counter-trend rally," Steven Goldman, market strategist at Weeden &
Co, told CNNMoney.

"But the implosion in the banking and insurance sectors is just
overwhelming."
Obama has moved aggressively on economic and fiscal policies. But
investors - if the market is any indication - are giving his initiatives a chilly
response.

On Feb. 17, Obama signed a stimulus bill worth $787 billion - the largest
spending bill in history. But the Congressional Budget Office indicates only
20 percent of the funds will be spent this year, and the nonpartisan group
suggests that the package could do more economic harm than good.

Obama also gave the green light to an omnibus $431 billion House
Democratic spending bill laden with close to 9,000 pork-barrel spending
items.

Plus, Obama revealed that he plans increase marginal tax rates on those
earning more than $250,000.

The new taxes will yield more than $1 trillion in government revenues, but
some economists believe the news of increased taxation will suck the wind
out of any economic recovery.

In the middle of the market meltdown Thursday, Obama spent the day
talking about a massive increase in healthcare spending, including a
proposal in his budget that sets aside $634 billion in a 10-year reserve fund
to pay for expanded care.

The drumbeat of bad news was too much for stocks, including:

 U.S. bankruptcy filings surging 31 percent in 2008.
 More than 600,000 Americans filing claims for jobless benefits for a fifth
    straight week, the worst performance since 1982.
 U.S. factory orders falling for a sixth straight month in January, official
    data showed.
  One in every eight U.S. households with mortgages ended 2008 behind
      on payments or in foreclosure, reported the Mortgage Bankers
      Association.
"The auto industry is effectively being wiped out or nationalized, however
you want to think about it," Rick Campagna, portfolio manager at Provident
Investment Council in Pasadena, Calif., told Reuters.

"Now you're talking about a good portion, if not all, of the banking sector
being taken over.

Meanwhile Obama is flying Air Force One back and forth to Ohio for a
"campaign event" at a cost of $57,000 an hour.

								
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