Last 2 weeks of News

I have been MIA the last two weeks, to much work and to do at home in the nice Spring weather to spend time on the computer.

1) California Supreme court rules Prop 8 is a “legal” amendment but stating the only the term marriage is what was made illegal for same sex couples in California. This is a ruling I actual agree with. Marriage is a religious term and should be taken totally out of the Governments hands. The government should create a mutual support contract to be filed with a government agency to give the “marriage rights” to any two people who want to enter such a relationship. Also a dissolution of the mutual support contract form and process would be needed. No need for lawyers or courts. Just a notarized form.
A good legal analysis can be found here.

2) Supreme Court nominee, Sonia Sotomayor, A normal far left wing hack job who thinks that they no better than anyone else what is “good” and “just” for all without any regard for the actual law.

3) Government Motors is now bankrupt. Big shock here, a poorly managed company for the last 30 years that has a huge union presence so short and long term costs can’t be controlled. To bad it will result in a motor company which is fascist in nature, supposedly privately owned by run by the government.

4) Obama stumping for his health care plans passage this summer before the bill is even written. The plan is here but there are no specifics. Normal politics, talk, give speech, no substance and rush through a plan in the darkness of night that nobody can read or comprehend since a true debate of the bill will result in it being something a vast majority of US citizen’s do not want.

5) North Korea leaves the peace Armistice, blows up a nuclear weapon and tests some long range missiles, the US response, maybe we can get a harsher worded letter to be considered at the UN but no passed. While this is going on make statements that this is not tolerable and North Korea is a rogue state, yada yada yada, nothing changed in 20 years on this front.

Searching for a silver lining but do not see anywhere that people are being told to be responsible for themselves and live with the consequences of poor decision making. Another couple of weeks on the road to fascism.

Maybe Obama Finally gets it

Obama Says U.S. Long-Term Debt Load ‘Unsustainable’

May 14 (Bloomberg) — President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.

“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”

Holders of U.S. debt will eventually “get tired” of buying it, causing interest rates on everything from auto loans to home mortgages to increase, Obama said. “It will have a dampening effect on our economy.”
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Us conservatives have been railing against government spending for many, many years and have been saying it is not long term sustainable and will cause huge inflation and high interest rates.

We will see if he actually does cut government costs significantly (25-50%) or is another lip service politician which says one thing and does another, like add a few trillion more in government spending for universal health insurance for the 3 or 4 million American citizens which do not have insurance for the long term.

Adding the 12 to 15 million uninsured illegal immigrants will bankrupt any government system. The other 12 to 15 million which are already eligible for government insurance (SCHIP or MEDICAID) and do not use those programs. That is 25 to 30 million of the 45 million the Single Payer Health insurance people talk about, then there are 10 million transient people (between insurance coverage) and 5 to 10 million who do not choose to buy health insurance.

Effects of Stimulus Plan

1) As part of California’s attempt to balance its budget earlier this year there was an agreement to reduce some union labor rates that work for the government. Now the federal government (Obama administration) is telling California that unless it recedes the wage cuts, California will loose $6.8 Billion dollars in federal stimulus plan money.
California Officials Question Union’s Role in Federal Stimulus Ruling
Lawmaker angry over federal stimulus money decision

2) Spending the U.S. stimulus: states can’t afford it

WASHINGTON (Reuters) – One of the greatest challenges U.S. states face in spending federal stimulus money is funding the burst in bureaucracy that accompanies the funds, a government watchdog said on Thursday, as the Obama administration pledged to give states more help.

Revenue has been dropping in most U.S. states for a year, and many governments have cut staff. But the $787 billion American Recovery and Reinvestment Act flooded states with money for programs and required them to keep the public and federal government apprised of their spending, all of which requires more workers, said the Government Accountability Office.

“Due to fiscal constraints, many states reported significant declines in the number of oversight staff — limiting their ability to ensure proper implementation and management of Recovery Act funds,” the GAO’s nearly 300-page report on the stimulus plan said.
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3) STIMULUS WATCH: Jobs, but not where needed most

WASHINGTON – The billions in transportation stimulus dollars that President Barack Obama promoted as a way to create jobs shortchange counties that need the work the most, an Associated Press analysis has found.

The AP’s review of more than 5,500 planned transportation projects nationwide is the most complete picture available of where states plan to spend the first wave of highway money. It reveals that states are planning to spend 50 percent more per person in areas with the lowest unemployment than in communities with the highest. The Transportation Department said it will attempt to replicate the AP’s analysis as it continues pressing states to dole out money fairly.
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Results of the stimulus plan, direct political payback to unions that supported the Obama campaign, creating jobs where there is low unemployment and states can’t spend the money due to lack of resources.

As usual, the government is trying to help and puts resources in the wrong spots and the controls decisions which have nothing to do with the original area of concern.

Yup, just the new business as usual from the hopeychange administration.

Economy is OK if the news is NOT AS BAD AS EXPECTED

Recent news which is said to be good since it is not as bad as predicted.

Fed’s Bank Results ‘Reassuring,’ Show No Insolvency

…….
Federal Reserve stress tests on the 19 biggest lenders show Bank of America Corp., Wells Fargo & Co. and Citigroup Inc. together require about $54 billion, said people familiar with the conclusions.
…….
White House spokesman Robert Gibbs yesterday suggested that the Obama
administration may seek management changes at some banks. Officials will want to “ensure that going forward they felt that the management was in place to remedy the situation and ensure long-term viability without continued government assistance,” he said.

Bank of America Chief Executive Officer Kenneth D. Lewis, 62, was ousted as chairman on April 29 ……….

Jobs Report Giving Investors Mixed Picture On US Economy

The pace of layoffs slowed in April when employers cut 539,000 jobs, the fewest in six months. But the unemployment rate climbed to 8.9 percent,………………..

Job losses in February and March turned out to be deeper, according to revised figures. Employers cut 681,000 positions in February, 30,000 more than previously reported.
They cut 699,000 jobs in March, more than the 663,000 first reported. The deepest job cuts of the recession —741,000 came in January.

Jobs: A little less bleak

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Wachovia senior economist Mark Vitner and Gilliam both say they’re worried about the impact on jobs in coming reports from the bankruptcy at Chrysler, which will result in a 30-to-60 day shutdown at all of its plants, and the possible bankruptcy at General Motors (GM, Fortune 500). The loss of jobs — not just at those companies but at their dealers and suppliers — will be substantial.

And Vitner said that while Wachovia is projecting that there will be economic growth by the fourth quarter of this year, it’s projecting that unemployment will continue to rise into 2010, topping out at 10.8% in April of that year.

“We are moving in the right direction, but the recession is not over, and even when it’s over that’s not an end of the tough times,” said Vitner.

Wow a bank stress test with an 8.4% unemployment shows the banks will be OK, current unemployment is 8.9% and expected to exceed 10% in the next year.

I wonder if a new stress test will be needed so that the federal government can take over the banks.

GM & Chrysler Bankruptcy

G.M., Leaking Cash, Faces Bigger Chance of Bankruptcy

Even after receiving $15.4 billion in federal loans, General Motors is once again on the brink of financial collapse.

The automaker’s first-quarter earnings released Thursday showed that G.M. was losing more money and sales than it was in late December, when the government began its bailout…………..

This is occurring as Chrysler is in Bankruptcy

Chrysler Files to Seek Bankruptcy Protection

President Obama forced Chrysler into federal bankruptcy protection on Thursday so it could pursue a lifesaving alliance with the Italian automaker Fiat, in yet another extraordinary intervention into private industry by the federal government.
Flanked by his automobile task force of cabinet secretaries and business advisers in the White House’s grand entranceway, Mr. Obama announced a plan that would allow the United Automobile Workers, through their retirement plan, to take control of Chrysler, with Fiat and the United States as junior partners. The government would lend about $8 billion more to the company, on top of the $4 billion it had already provided……

If this is the good things that comes out of companies being to big to fail and then being supported by a federal government which is to big to fail.

This just proves that the US federal government is to bg and needs to be dismantled and let the states try to run things since the feds have screwed things up so badly.

GM will move jobs out of US using Taxpayer Money

This is our wonderfully brilliant central government planning that was started by Bush and is being completed by Obama.

Under Restructuring, GM To Build More Cars Overseas

The U.S. government is pouring billions into General Motors in hopes of reviving the domestic economy, but when the automaker completes its restructuring plan, many of the company’s new jobs will be filled by workers overseas.

According to an outline the company has been sharing privately with Washington legislators, the number of cars that GM sells in the United States and builds in Mexico, China and South Korea will roughly double.

The proportion of GM cars sold domestically and manufactured in those low-wage countries will rise from 15 percent to 23 percent over the next five years, according to the figures contained in a 12-page presentation offered to lawmakers in response to their questions about overseas production.
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Everyone needs to call their congressman (woman) and tell them thanks for letting the executive branch of the federal government spend out tax dollars to send jobs out of this country.

Just the normal expected result of the government helping out.

Government Energy Policy – Dems & Bush

This should be the expected result of poor centralized planing of the US energy Policy. The democratically controlled congress in 2007 passed its energy bill which Bush signed over the objections of conservatives as a show of bi-partisanship due and all the liberals hate Bush since he would not cooperate. The last 2 years he rubber stamped almost everything that the Dems (Reid, Pelosi) wanted and we are starting to live the consequences of these decisions.

Paper companies get unexpected tax-credit windfall

A law to make the earth a little greener is giving paper mills an unintended multibillion-dollar tax windfall with the help of a little diesel fuel.
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The alternative fuel credits were projected to cost the federal government $61 million a year in lost taxes…….
A preliminary estimate being circulated among lawmakers by the nonpartisan Joint Committee on Taxation now puts the price tag at $3.3 billion.
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This is the result of the government controlling businesses with Tax laws. The businesses are doing exactly what they are supposed to do. Maximize profit for shareholders.

Another reason for a flat consumption tax and eliminate the income and corporate taxes, in the end consumers pay all taxes anyways so why not make it a direct payment and eliminate the trillions of dollars spent on US tax law compliance.

1st 100 Days & the future failure of America

I thought after the 1st 50 days that things could only get better, lots of new people making new people mistakes, these people really have pride in America just not reacting to well to the new power and environment.

It has just gotten worse except for the distraction game, the Obama administration has gotten very, very good at distraction while the real agenda of the government take over of a majority of American business marches forward.

Some of the highlights/lowlights
1) The American Apology tour through Europe. I thought only look at how important I am, self-indulgent Hollywood types (Penn, Glover, Bellafonte) and ex-presidents (Carter) went around the world saying America is evil. Now the sitting president is apologizing to the world because American Capitalism over the last century and a half has brought an improved standard of living to a large segment of the world population.

2) Cut 100 million dollars from federal budget, same as a family making $45000 a year taking a $1.22 annual pay cut. I wonder what will be cut in the family budget to make up for the income loss, need to drink water instead of the bottle of soda at today’s lunch. savings achieved, no more cutting needed.

3) Media lapdog to the president – ignores hundreds of thousands of protesters who think that government is overstepping its bounds and government intervention into private society needs to be curtailed.

4) Continue to ignore friends and prop up enemies. (Iran, Cuba, Venezuela, North Korea) And listen to them speak while they rant about how evil America is.

5) Politicize the security of America by releasing CIA memos

All of these are a distraction as they push through a universal health insurance and energy cap and trade plan.

Universal health care will result in limiting access, it is the only way to decrease costs is to limit access. See Charles Krauthammer collumn. The government has convinced a majority of the people that the America Health Care industry is broken and can only be “fixed” by the federal government.

The federal government is going to do the same thing with the energy industry under Cap & Trade. Cap & Trade will result in significant 300 to 400% increases in energy prices which will raise the prices for each American household about $3900 dollars more a year. This will result in American’s becoming enraged against energy companies and utilities giving the government the support to price cap and nationalize the energy industry. This will result in less energy for everyone to use.

It is called hidden taxes on business which gives those in power the ability to create a crisis and then solve the crisis by taking more power.

America is on a road to rapid failure and lower standards of living for the good of everyone.

POWER CORRUPTS, ABSOLUTE POWER CORRUPT ABSOLUTELY!!!!!!!!!!

HAPPY EARTH DAY!

HAPPY EARTH DAY!

Another entertaining column by Mark Steyn.

April 22nd – Lenin’s birthday – is also Earth Day, a day to ponder what we hard-hearted right-wingers regard as the ultimate Milf. It was, oddly enough, thinking about eco-alarmism that got me started on the road to America Alone. This National Post column is from 2002:

In 1968, in his best-selling book The Population Bomb, scientist Paul Ehrlich declared: “In the 1970s the world will undergo famines – hundreds of millions of people are going to starve to death.”

In 1972, in their influential landmark study The Limits to Growth, the Club of Rome announced that the world would run out of gold by 1981, of mercury by 1985, tin by 1987, zinc by 1990, petroleum by 1992, and copper, lead, and gas by 1993.

In 1977, Jimmy Carter, President of the United States incredible as it may seem, confidently predicted that “we could use up all of the proven reserves of oil in the entire world by the end of the next decade.”

Now, in 2002, with enough oil for a century and a half, the planet awash in cut-price minerals, and less global famine, starvation and malnutrition than ever before, the end of the world has had to be rescheduled. The latest estimated time of arrival for the apocalypse is 2032. Last week, the United Nations Global Environmental Outlook predicted “the destruction of 70% of the natural world in 30 years, mass extinction of species, and the collapse of human society in many countries … More than half the world will be afflicted by water shortages, with 95% of people in the Middle East with severe problems … 25% of all species of mammals and 10% of birds will be extinct …” Etc., etc., for 450 pages. But let’s cut to the chase: As The Guardian’s headline writer put it, “Unless We Change Our Ways, The World Faces Disaster.”

Ah, yes. The end of the world’s nighness is endlessly deferred but the blame rests where it always has. With us – with what the UN calls “the current ‘markets first’ approach.” Klaus Toepfer, the UN Environment Program executive director, believes that “under the ‘markets first’ scenario the environment and humans did not fare well.”
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I’d like to be an “environmentalist,” really I would. I spend quite a bit of my time in the environment and I’m rather fond of it. But these days “environmentalism” is mostly unrelated to the environment: It’s a cult, and, like most cults, heavy on ostentatious displays of self-denial, perfectly encapsulated by the time-consuming rituals of “recycling,” an activity of no discernible benefit other than as a communal profession of faith.
……..

The higher a countries GDP, the healthier the population and the longer people live. This is a fact which can’t be denied by any open minded un-biased reasonable person. There deniers that free-markets improve peoples lives are dooming the Human race to a much worse way of life than necessary. It is a shame that some people only feel good when destroying others.

I have a previous entry about this Global Warming – Science Consensus Fraud?

It is an easy comparison, from Wikipedia
World GDP

Life expectancy

Why Bank’s should Not have taken Gov’t Money

US to put conditions on Tarp repayment

Strong banks will be allowed to repay bail-out funds they received from the US government but only if such a move passes a test to determine whether it is in the national economic interest, a senior administration official has told the Financial Times.
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The official said former Treasury Secretary Hank Paulson was right to treat all the banks the same way in late 2008 at the peak of the crisis but it was now necessary to differentiate more between institutions.
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I hope the banks will learn from this, never trust government, they took the government’s money when some did not want it, now that they want to give it back since they never really did much with it to begin with, the government will not take it back until certain tests are passed.

All Businesses, if you want to be independent, do not take government “loans”. The strings will never be gone and if they want the government will take over your business from you. ( New GM CEO ring a bell.)

Now since the public has gotten more vocal about stopping the insane spending, Congress wants to back out. The government solution is not to let the banks figure it out for themselves. The government will just buy the banks by taking over the bank’s stocks and destroy an individuals common stock value.

U.S. may convert banks’ bailouts to equity share

President Obama’s top economic advisers have determined that they can shore up the nation’s banking system without having to ask Congress for more money any time soon, according to administration officials.

In a significant shift, White House and Treasury Department officials now say they can stretch what is left of the $700 billion financial bailout fund further than they had expected a few months ago, simply by converting the government’s existing loans to the nation’s 19 biggest banks into common stock.

Remember, the government will change the rules whenever it wants to keep control.

Stopping this type of government behavior is the real root of the tea parties last weak. The government needs to get out of the way and stop trying to prevent some failures and preventing all from succeeding.