Archive for the ‘crisis’ Category

Anger, Lawlessness Fueling U.S., Global Economic Revolution?

March 26, 2009

Some might say, “The ends justify the means.”

Some might say the “anarchists” seen at global economic leadership conferences are now getting what they wanted; what they protested for.

Today two Washington Post reporters said the President of the United States is “attempting to harness public anger over the financial crisis” to pass his budget.

Obama Buys Into Anger, Fear as Political Tool

Are we setting the future course of the United States and the world based upon anger?  And if so, is that a good way to plan our future and the debt burden for our children and grandchildren?

And hasn’t the president himself fueled this anger expressing “outrage” at the AIG bonusus that were protected in his stimulus and known about for months by the Fed and Treasury (and Chris Dodd)?

So now the president wants to “bypass the traditional media and speak directly to the people?”  Why?  To fan and further fuel the anger?

Related:
Social Unrest: Hurt by Economy, Europeans Vent Their Anger

 President Tries To Harness Public Anger To Move His Budget

 ACORN Protesters At Homes of AIG Execs Similar To Lawlessness For UK Bank Exec?

Economy, “Foreign Forces” Trying to Destabilize Russia?

China fears recession riots

 Global Economy Weakness Leading To Social Unrest

Global Economy Sparks Protests; Governments Fear Greater “Social Unrest”

Obama: Press Conference Hints at Class Warfare

James Hill, New York Times

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French Worker Release Factory Head After Lay Off Threat

French workers released a manager of U.S. manufacturer 3M held hostage for two days in a labor dispute over layoffs, the company said Thursday, amid rising French unemployment and public outrage at employers.

AP

A new poll indicated that French worker frustration remains high, with a majority of respondents predicting more violent incidents in response to the economic crisis. The hostage-taking was one of many recent efforts by French workers to protest the downturn.

Workers at a 3M factory in Pithiviers locked manager Luc Rousselet in an office Tuesday, demanding better severance packages for those laid off and better conditions for those who keep their jobs.

After discussions Wednesday that ran into the night, Rousselet was released overnight, company spokeswoman Catherine Hamon said. Rousselet, unharmed, then left the factory grounds.

Read the rest:
http://news.yahoo.com/s/ap/2009032
6/ap_on_bi_ge/eu_france_labor_unrest_7

Please Visit Michelle Malkin:
http://michellemalkin.com/2009/03/
26/obamas-online-townhall-whats-r
eally-going-on/

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For Cuomo, AIG, Financial Crisis Is His Political Moment

March 21, 2009

One of the most troubling aspects of the AIG discussion in Congress, the White House and the media is the intertwining of personal political objectives while most Americans suffer grave economic consequences.

We don’t think the stampede to demand pain at AIG and among their employees has been good for the economic recovery one bit.  But it has been good for some politicians who are working to get public attentiona and future jobs.

Andrew Cuomo is one….

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By MICHAEL POWELL, DANNY HAKIM and LOUISE STORY
The New York Times
Andrew M. Cuomo, whose love of analogies is great, often likens his investigations to a fine opera.

The opening act, he instructs his lieutenants at the New York State attorney general’s office, is taken up with his investigation and rivets the audience’s attention. The middle acts are sung by tenors from executive suites, who agree to change their misbegotten ways.

The final act, in his rendition, is played by Congress or the State Legislature, which enacts new laws and systemic reform.

Mr. Cuomo, a double-espresso of a politician and an oh-so-careful guardian of his own media image, now has found his moment like few politicians in the United States. For months he has given voice to disgust with the abuses and self-regard within the nation’s financial industry. He has forced the three largest rating agencies to the bargaining table, persuaded mortgage lenders to agree to rework their appraisals and sought to force down the cost of student loans by shaming universities and lenders.

Mr. Cuomo’s use of his office, its powers and its bully pulpit, is muscular. He has sent his subpoenas to those in plush offices, and dragged out the names of bonus recipients from American International Group and Merrill Lynch, to loud applause from many voters.

But with names in hand, the attorney general is experiencing a very Cuomo-esque moment of agonizing about the propriety of exposure. As he watched Edward M. Liddy, chief executive of the American International Group, describe death threats that his employees had received, including a note suggesting hangings with piano wire, Mr. Cuomo began this week to wonder whether the public baying had grown too loud, an aide who was with him said.

“There’s a risk it gets so loud it becomes counterproductive,” he said, the aide recalled. “It’s important to take a deep breath.”

Read the rest:
http://www.nytimes.com/2009/0
3/21/nyregion/21cuomo.html?_r=1&hp

Sounding Like a Mafia Hit Man, Rendell Says Steele’s ‘Days are Numbered’

March 12, 2009

With the nation in an extreme economic crisis: it is still business as usual among many of the nation’s political elite.

Related:

For Obama, Pelosi “Spring Break” Means Your Tax Dollars Fund the Trip: Even if You’re Unemployed

Carville Fires Back at Limbaugh Over Who Wants Which President to Fail

Card Check, Earmarks, Nancy’s Air Travel Cloud Giant That Could Eat Obama, Ruin America: The Economy

Obama: Playing not to lose

Team Obama Reflects the Era of Richard Nixon’s Dirty Tricks

From Politico

Pennsylvania Gov. Ed Rendell predicted on Thursday that Michael Steele‘s “days are numbered” as chairman of the Republican National Committee.

“He’s in trouble because I just think that those who control the Republican Party don’t want a big tent,” Rendell told reporters during a lunch hosted by the Christian Science Monitor.

Rendell, a past chairman of the Democratic National Committee, said he believes the approaching special election in New York’s 20th Congressional District — to replace Democrat Kirsten Gillibrand, who was appointed senator — is not likely a make-or-break event for Steele, whom Rendell said also faces more fundamental problems.

“I don’t know if they want a chairman who is basically pro-choice,” Rendell said, referring to an answer Steele gave to GQ magazine in which he described abortion as an “individual choice.”

Steele has since backtracked, saying in a statement to POLITICO, “I am pro-life, always have been, always will be.”

But Rendell said Steele’s explanations of that comment and of other recent gaffes may not be enough to save his job, even though Rendell believes Steele could be “effective in time.”

“Michael Steele’s days are numbered,” Rendell said. “Fortunately for us, his days are numbered.”

The RNC had no immediate comment on Rendell’s remarks.

http://news.yahoo.com/s/politico/
20090312/pl_politico/19948

In this Friday, Jan. 30, 2009 picture, former Maryland Lt. Gov. ... 
Former Maryland Lt. Gov. Michael Steele speaks after being elected the first black Republican National Committee chairman. (AP Photo/Pablo Martinez Monsivais)

Voters’ Obama Folly Coming Home to Roost

March 11, 2009

It’s only been 7 weeks since the man whose resume fits nicely on the back of a postage stamp became the most powerful human being in the universe.  As Presidents go, Barack Obama has proven at least one thing true:  change is like the flip of a coin.  Change can bring the best of times; change can bring the worst of times.  And anyone over the age of twelve ought to have known that.  Instead, 52% of the American electorate has run around like a bunch of howling ninnies for the past year chanting like a horde of Jim Jones’ followers, who can’t get enough of the poison kool-aid.

By Kyle-Anne Shiver
American Thinker

So much for progressive enlightenment.

With an economy in shambles, slinking toward all-out depression a little further each day, the President doesn’t know the difference between a popularity-based political tracking poll and the confidence meter of the stock market, which represents the actual savings and pension funds of millions and millions of ordinary Americans.  Heck, the golden boy of campaign one-liners doesn’t even know that P/E ratio stands for price/earnings, not profit/earnings. 
.
If only he had once had a paper route instead of all those pick-up games with the hoops.
.
That famed transition team — the team that was given greater inside access than ever in history by a more-than-gracious out-going President, is about to go down as the most incompetent bunch of nincompoops ever produced by a university system.   Those fancy degrees are evidently not worth the paper upon which they’re printed. 
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In a time of mounting economic peril, even as the transition team dithered, one would have thought that fully staffing the Department of the Treasury would have been top priority.  Not for this bunch.  Timothy tax-cheat-TurboTax-challenged Geithner is a one-man Treasury Department and is so out of touch that he spent precious minutes in front of a Congressional panel scolding our own gas and oil companies for damaging the environment, even as a record 31.8 million Americans sign up for food stamps.
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Earth to Tim:  You won’t get the Country out of this mess by slamming the companies that hire us so we won’t need to be on the dole.
Is there a single business enterprise in America that this administration doesn’t hate with a death wish?

Some of those folks now lining up to get food stamps and the like probably worked in the domestic tourist industries that have taken a whack from President Obama.  Every time the President slams a trip by so-and-so from such-and-such company, real people lose the jobs they would have had providing services to these executives….

Read the rest:
http://www.americanthinker.com/2009/03/voters_
obama_folly_coming_home.html

Related:
 No Leadership: It’ll Take More Than Money to Fix This Crisis

The president may not have what it takes

 Obama Doesn’t Understand What Many Americans Are Thinking

All The President’s Men: Where’s The Congressional Oversight?

Economic Situation Demads Nation, Politics With War Mindset

China Provoked Obama; Now Works To Smooth Situation: Why?

Losing Terror War? Al Qaeda, Afghanistan, Iran

Obama Policy On Gitmo, Taliban, Afghanistan, Intel: As Stupid as It Gets

Buffett: Obama not at war; has toxic message machine on economy

Obama’s First Major Foreign Crisis Brewing?

March 9, 2009

North Korea could launch a long range missile at any time, and according to Jae-Soon Chang of the Associated Press, “Analysts say the regime is trying to grab President Barack Obama‘s attention as his administration formulates its North Korea policy.”

Iran tested a new missile this last weekend.

Iranian clerics watch the launch of a Shahab-3 ballistic missile ... 
Iranian clerics watch the launch of a Shahab-3 ballistic missile outside Qom in 2006. A top Iranian military commander said that the country has missiles that can reach the nuclear sites of its arch-foe Israel.(AFP/File/null)

The Jerusalem Post reported Sunday that Israel’s Military Intelligence chief Maj.-Gen. Amos Yadlin, who told the cabinet on Sunday that Iran had “crossed the technological threshold” and that its attainment of  nuclear military capability was now a matter of “incorporating the goal of producing an atomic bomb to its strategy.”

More U.S. troops are headed to Afghanistan which Evan Thomas of Newsweek has already dubbed “Obama’s War.”

CNN on North Korea:
http://edition.cnn.com/2009/WORLD/asiap
cf/03/08/nkorea.launch/index.html

Jerusalem Post on Iran’s nuclear effort See:
http://www.jpost.com/servlet/Satellite?cid
=1236269373103&pagename=JPost%2FJP
Article%2FShowFull

And the Independent Newspaper in Britain warns that “This year both American and British officials have become increasingly open about their fear that Pakistan – which has nuclear weapons under the control of a military at least to some extent open to extremist influence – is a greater danger than Afghanistan.”

And all of this includes Russia.  Despite Hillary Clinton and Russian Foreign Minister Lavrov playing nice last weekend, and an apparent plea from Mr. Obama for Russian help with the Iran problem, it is by no means certain that Russia will be helpful.

Russia cut off heating oil to Europe this winter over a dispute with Ukraine and Vladimir Putin threatened another cut-off just last week.  Just last summer saw Russian tanks and troops in South Ossetia and Georgia — just as Georgia was making noise about joining NATO.

Since President Obama’s inauguration, Russia has been testing Mr. Obama and his administration rigorously and continuously.

“Mark my words,” Democratic vice presidential nominee Joe Biden warned last October. “It will not be six months before the world tests Barack Obama like they did John Kennedy. The world is looking.”

“Remember I said it standing here if you don’t remember anything else I said. Watch, we’re gonna have an international crisis, a generated crisis, to test the mettle of this guy.”

Time is runing out on Obama’s “Honeymoon,” and the economy is no longer the only entre on the plate.

John E. Carey
Wakefield Chapal, Virginia

Related:
North Korea Warns: Shoot Down Our Satellite Will “Prompt Counterstrikes by the Most Powerful Military Means”

Obama says US is losing war in Afghanistan and hints at Taleban talks

Pakistan: The Greatest Threat
http://www.independent.co.uk/news/worl
d/asia/pakistan-the-greatest-threat-16397
79.html

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Russia, U.S. Missile Defense Dispute

Russian Relations With U.S., Europe Improve: But Putin, Medvedev Understand Strength, Power More than Diplomacy

 Russia Sees Obama, U.S., Others As “Weak,” “Naive”
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Israel Ponders War on Iran; Obama, Russia HaggleRussia Testing Obama: Just as Biden Predicted
.
Russia building anti-satellite weapons

 Russia: Medvedev Pushing Putin Out?

Russia Verifies “American, Western Weakness”

Russia Sees Obama, U.S., Others As “Weak,” “Naive”

Mr. Obama and Russia
NYT Editorial: Russia only understands strength….

 Chutzpah: Admire Russia’s Arrogance
Russia, Obama and the Strategic Chess Tournament

homewhiteningcare.org/

Iranians walk past a replica of a Shahab-3 missile on display ... 
Iranians walk past a replica of a Shahab-3 missile on display in Tehran. The Fars news agency says Iran has “successfully” tested a new air-to-sea missile with a range of 110 kilometres (68 miles).(AFP/File/Atta Kenare)

North Korea Warns: Shoot Down Our Satellite Will “Prompt Counterstrikes by the Most Powerful Military Means”

March 9, 2009

North Korea warned Monday that any move to intercept what it calls a satellite launch and what other countries suspect may be a missile test-firing would result in a counterstrike against the countries trying to stop it.

By AP and Kyodo

“We will retaliate (over) any act of intercepting our satellite for peaceful purposes with prompt counterstrikes by the most powerful military means,” the official Korean Central News Agency quoted a spokesman of the General Staff of the Korean People’s Army as saying.

If countries such as the United States, Japan or South Korea try to intercept the launch, the North Korean military will carry out “a just retaliatory strike operation not only against all the interceptor means involved but against the strongholds” of the countries, it said.

“Shooting our satellite for peaceful purposes will precisely mean a war,” it added.

North Korea earlier announced it is preparing to put a communications satellite into space, but outside observers suspect it may in fact be a test-firing of a long-range ballistic missile.

The United States, Japan and South Korea have said that even if Pyongyang calls the launch a missile test, it would violate existing U.N. Security Council resolutions.

The same North Korean statement said the country’s military will cut off communications with its South Korean counterparts during the U.S.- South Korean exercises for the duration of the exercises beginning Monday.

A separate, more rare statement by the KPA’s Supreme Command was quoted by the KCNA as saying that its soldiers are under orders to be “fully combat-ready” during U.S.-South Korean military exercises beginning Monday.

The North’s armed forces have been ordered to “deal merciless retaliatory blows” should there be any intrusion “into the sky and land and seas of the DPRK even an inch.”

DPRK stands for Democratic People’s Republic of Korea, North Korea’s official name.

North Korea has demanded a stop to this month’s U.S.-South Korean exercises, and said earlier it cannot guarantee the security of South Korean civilian airplanes flying through its territorial airspace while they are under way.


A U.S. Navy ship launches ballistic missile defense interceptors like those that could be used to counter North Korea’s long range missile launch….

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North Korea Again Issues War Warning

By JAE-SOON CHANG, Associated Press Writer

North Korea put its armed forces on standby for war Monday and threatened retaliation against anyone seeking to stop the regime from launching a satellite into space in the latest barrage of threats from the communist regime.

Pyongyang also cut off a military hot line with the South, causing a complete shutdown of their border and stranding hundreds of South Koreans staying at an industrial zone in the North Korean border city of Kaesong.

The warning came as U.S. and South Korean troops kicked off their annual war games across the South, exercises the North has condemned as preparation for an invasion. Pyongyang last week threatened South Korean passenger planes flying near its airspace during the drills.

Analysts say the regime is trying to grab President Barack Obama‘s attention as his administration formulates its North Korea policy.

Read the rest:
http://news.yahoo.com/s/ap/20090
309/ap_on_re_as/as_koreas_tension

Obama Doesn’t Understand What Many Americans Are Thinking

March 8, 2009

“First of all, let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and vigor has met with that understanding and support of the people themselves which is essential to victory. I am convinced that you will again give that support to leadership in these critical days.”

Words from Barack Obama?  Hardly.  Those are words from Franklin Roosevelt’s first inaugural address.

See:
http://historymatters.gmu.e
du/d/5057/

I am disappointed in my president, our president.

He has changed some really great rhetoric like FDR’s “the only thing we have to fear is fear itself” into this:

“I don’t think that people should be fearful about our future.  I don’t think that people should suddenly mistrust all of our financial institutions.”

“I don’t think” indicates an Obama-centric view of the financial turmoil of Americans — not a “people centric” view.

And by guessing at what Americans really do fear, “financial institution,” Obama is saying it is these evil “financial institutions” that many of us do fear.

Well, maybe in Obama World and Obama’s White House, people fear financial institutions because they have no understanding of capitalism, business, the stock market and the American dream.

I am afraid that President Obama has no clue….That’s my fear.  And I resent Him telling me what I think.

I believe generally that “the only thing we have to fear is fear itself” and I also believe in JFK’s famous challenge: “Ask not, what your country can do for you.  Ask what you can do for your country.”

I also believe in Ronald Reagan’s exoration: “Government is not the solution.  Government is the problem.”

I am afraid now because President Obama, Nancy Pelosi, Harry Reid and a lot of other well meaning folks think the government is the solution.

America’s founders wrote down the Declaration of Independence, the Constitution and the other parts of our national fabric because they were living in fear of a far off all knowing and uncaring English Government.

And their spirit lives today in the saying, “I’m from the government and I’m here to help.”  Many of us fear such naive, ignorant hubris.

I am starting to fear Washington.  Obama’s Washington.  A far off, all knowing and uncaring government about five miles from my house, which is surrounded by other foreclosed houses.

I really do fear that Obama and many Democrat’s don’t get it.

Just last week, on Tuesday, President Obama, while speaking about the economy and the stock market, mentioned the “profit to earnings ratio.”

And I thought he went to Harvard.  There is no “profit earnings ratio.”  There is a “price to earnings ratio” or PE.  Investors care more about their return on the dollar, reflected in the price they paid and the earnings that resulted.

Tom Petruno wrote in the Los Angeles Times on March 7, “He didn’t get the lingo right, assuming he meant to say ‘price-to-earnings ratios,’ a measure of stock prices relative to earnings per share. That flub caused snickering among market pros.”

See:
Obama, Socialism, Fear, Lack of Confidence: Tanking Stocks, Skyrocketing Debt, Recovery Doomed This Year

I was even more disappointed when the president repeated this ignorant flub in a New York Times interview late in the week.  That meant to me that nobody in the White House was smart enough to straighten out the president by holding a little school call on him.  Or maybe they just don’t know; and don’t read.  They certainly don’t listen.

But they’re thinking about curing all my education and health care problems, undoutedly….

So Obama’s lack of stock market lingo doesn’t mean to me that he slept through high school: it means he has no idea what drives capitalism because he was reading socialist doctrine instead of paying attention to America, as he himself indicates in his books.  Maybe he never invested in anything but himself.

*****

What is wrong with America?  Everything, in Obama World:

“Look, I wish I had the luxury of just dealing with a modest recession or just dealing with health care or just dealing with energy or just dealing with Iraq or just dealing with Afghanistan,” Obama said. “I don’t have that luxury, and I don’t think the American people do, either.”

Related:
From CNN:
http://edition.cnn.com/2009/POLITIC
S/03/07/obama.interview/index.html

Related:
 NYT Interviews Obama; No Economic Recovery This Year
.
NYT: After March 6 Economic News, “2009 is Probably a Lost Cause”

Related:
Obama: Crisis is time of ‘great opportunity’

 President Pelosi?

 Obama, Socialism, Fear, Lack of Confidence: Tanking Stocks, Skyrocketing Debt, Recovery Doomed This Year
.
Can Democracy Fail With Obama’s Socialist Help?

*****

It seems to us that the attacks on Rush Limbaugh fromTeam Obama are an effort to tell Americans what to think and what not to think.  This kind of arrogance often manifests itself in unusal ways: Limbaugh’s radio show ratings doubled.

So I really do fear that President Obama and his guys don’t get it….

Democratic Attacks On Limbaugh Boost His Ratings — But He’s Not The Problem

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I fear that the president doesn’t understand that many of us don’t want to pay more taxes, however they are hidden or veiled and whatever thay are for, many of us DO MIND paying for por, even though Chick Schumer thinks we don’t, and many of DO want to further understanding of the good news/bad news behind such huge spending on health care and other Obama projects.  And I certainly DO WANT to understand how all this government debt will degrade American growth and quality of life in the future.  I don’t like sending money for oil to Saudi Arabia and I don’t like sending debt/interst payments to China eaither….

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WASHINGTON (AP) — President Barack Obama offered his domestic-policy proposals as a “break from a troubled past.” But the economic outlook now is more troubled than it was even in January, despite Obama’s bold rhetoric and commitment of more trillions of dollars.

And while his personal popularity remains high, some economists and lawmakers are beginning to question whether Obama’s agenda of increased government activism is helping, or hurting, by sowing uncertainty among businesses, investors and consumers that could prolong the recession.

Although the administration likes to say it “inherited” the recession and trillion-dollar deficits, the economic wreckage has worsened on Obama’s still-young watch.

Every day, the economy is becoming more and more an Obama economy.

More than 4 million jobs have been lost since the recession began in December 2007 — roughly half in the past three months.

Stocks have tumbled to levels not seen since 1997. They are down more than 50 percent from their 2007 highs and 20 percent since Obama’s inauguration.

The president’s suggestion that it was a good time for investors with “a long-term perspective” to buy stocks may have been intended to help lift battered markets. But a big sell-off followed.

Presidents usually don’t talk about the stock market. But the dynamics are different now.

A higher percentage of people have more direct exposure to stocks — including through 401(k) and other retirement plans — than ever.

So a tumbling stock market is adding to the national angst as households see the value of their investments and homes plunge as job losses keep rising.

Some once mighty companies such as General Motors and Citigroup are little more than penny stocks.

Many health care stocks are down because of fears of new government restrictions and mandates as part a health care overhaul. Private student loan providers were pounded because of the increased government lending role proposed by Obama. Industries that use oil and other carbon-based fuels are being shunned, apparently in part because of Obama’s proposal for fees on greenhouse-gas polluters.

Makers of heavy road-building and other construction equipment have taken a hit, partly because of expectations of fewer public works jobs here and globally than first anticipated.

“We’ve got a lot of scared investors and business people. I think the uncertainty is a real killer here,” said Chris Edwards, director of fiscal policy for the libertarian Cato Institute.

Some Democrats, worried over where Obama is headed, are suggesting he has yet to match his call for “bold action and big ideas” with deeds.

In particular, they point to bumpy efforts to fix the financial system under Treasury Secretary Timothy Geithner.

Obama may have contributed to the national anxiety by first warning of “catastrophe” if his stimulus plan was not passed and in setting high expectations for Geithner. Instead, Geithner’s public performance has been halting and he’s been challenged by lawmakers of both parties.

Republicans and even some top Democrats, including Rep. Charles Rangel, D-N.Y., chairman of the House Ways and Means Committee, have questioned the wisdom of Obama’s proposal to limit tax deductions for higher-income people on mortgage interest and charitable contributions.

Charities have strongly protested, saying times already are tough enough for them. The administration suggests it might back off that one.

Even White House claims that its policies will “create” or “save” 3.5 million jobs have been questioned by Democratic supporters.

“You created a situation where you cannot be wrong,” the chairman of the Senate Finance Committee, Montana Democrat Max Baucus, told Geithner last week.

“If the economy loses 2 million jobs over the next few years, you can say yes, but it would’ve lost 5.5 million jobs. If we create a million jobs, you can say, well, it would have lost 2.5 million jobs,” Baucus said. “You’ve given yourself complete leverage where you cannot be wrong, because you can take any scenario and make yourself look correct.”

Republicans assert that Obama’s proposals, including the “cap and trade” fees on polluters to combat global warming, would raise taxes during a recession that could touch everyone. “Herbert Hoover tried it, and we all know where that led,” says House Republican leader John Boehner of Ohio.

The administration argues its tax increases for the households earning over $250,000 a year and fees on carbon polluters contained in its budget won’t kick in until 2011-2012, when it forecasts the economy will have fully recovered.

But even those assumptions are challenged as too rosy by many private forecasters and some Democratic lawmakers.

Many deficit hawks also worry that the trillions of federal dollars being doled out by the administration, Congress and the Federal Reserve could sow the seeds of inflation down the road, whether the measures succeed in taming the recession or not. The money includes Obama’s $3.6 trillion budget and the $837 billion stimulus package he signed last month.

Polls show that Obama’s personal approval ratings, generally holding in the high 60s, remain greater than support for his specific policies.

“He still has a fair amount of political capital, so the public is willing to cut him some slack and go along with him for a while,” said pollster Andrew Kohut, director of the Pew Research Center. “But the public will have to get some sense that the kinds of things he’s proposing are going to work, or are showing some signs that they are working.”

Allan Sinai, chief global economist for Decision Economics, a Boston-area consulting firm, said the complexity and enormity of the crisis make it hard to solve.

“There’s no way to get it all right, regardless of which president is making policy,” Sinai said. “The problem is the sickness got too far. The actions taken, medicine applied, were mainly the wrong actions. So it’s just worse, and it gets harder to deal with. At this stage, there is no easy answer, no easy way out. It’s a question of how we fumble through.”

http://michellemalkin.com/2009/03/07/tea-part
y-on-taxpayer-revolts-in-green-bay-lafayette-olat
he-and-harrisburg/

Obama: Crisis is time of ‘great opportunity’

March 7, 2009

President Barack Obama on Saturday challenged his country to see its hard times as a chance to “discover great opportunity in the midst of great crisis.”

By Ben Feller, AP

“That is what we can do and must do today. And I am absolutely confident that is what we will do,” Obama said in his weekly radio and video address, taped a day earlier at the White House.

The work week ended on more down news, with the report of 651,000 more American jobs slashed and an unemployment rate climbing to 8.1 percent. That is the highest rate of people out of work in more than 25 years, as the recession continued to put enormous pressures on families and industries.

Obama recapped the work of the latest hectic week in his young presidency. His goal was to reassure the country that he and his team are taking specific steps to create jobs in the short term and begin to address huge issues such as health care.

Read the rest:
http://apnews.myway.com/article/20
090307/D96P7GG00.html

http://www.cheatseekingmissiles.com/
2009/03/07/the-taxinator/

Never waste a good crisis, Clinton says

March 7, 2009

Secretary of State Hillary Clinton told an audience Friday “never waste a good crisis,” and highlighted the opportunity of rebuilding economies in a greener, less energy-intensive way.

Highlighting Europe’s unease the day after Russia warned that gas flows via Ukraine might be halted, she also condemned the use of energy as a political lever.

By Pete Harrison
Reuters

Clinton told young Europeans at the European Parliament that global economic turmoil provided a fresh opening. “Never waste a good crisis … Don’t waste it when it can have a very positive impact on climate change and energy security,” she said.

Europe sees the United States as a crucial ally in global climate talks in Copenhagen in December, after President Barack Obama signaled a new urgency in tackling climate change, in stark contrast to his predecessor George W. Bush.

Read the rest:
http://in.reuters.com/article/environm
entNews/idINTRE5251VN20090306

Related:
 Hillary: One-Time Health Care Failure Now American’s Chief Diplomat, Fouls Up First Time Out

Incoming White House Chief of Staff Rahm Emanuel gestures prior ... 
Incoming White House Chief of Staff Rahm Emanuel gestures prior to the inauguration ceremony of Barack Obama as the 44th President of the United States, in Washington, January 20, 2009. Emanuel famously said, “Never let a good crisis go to waste.”(Jim Young – UNITED STATES/Reuters)

Geithner’s Hand Picked Deputy at Treasury Drops Out

March 6, 2009

The Obama Administration continues a trend tonight: unable to fill top government jobs with qualified and clean candidates.

Today, Sanjay Gupta took his name out of consideration as the only nominee as Sergeon General.  Gupta said he wanted to dedicate more time to his work at CNN but friends say he can’s give up his fat CNN pay check for the meager government pay.

At Treasury, Secretary Timothy “Can’t Work Turbotax” Geithner’s hand-picked deputy pulled her name out of consideration and will join Bill Richardson, Tom Daschle, Gupta and others in non-government work….

Good thing this is the administration of “hope.”  We hope it works…..

http://michellemalkin.com/2009/03/04/news
flash-wonderboy-treasury-secretary-is-in-ov
er-his-head/

*****

Daniel Wagner, AP Business Writer
.
Treasury Secretary Timothy Geithner’s top pick to be his deputy withdrew from consideration Thursday, a setback for the agency as it confronts the worst financial crisis in decades.

Annette Nazareth, a former senior staffer and commissioner with the Securities and Exchange Commission, withdrew after several interviews and vetting of her financial history, a person familiar with Nazareth’s decision said.

But this person, who spoke on condition of anonymity because Geithner never publicly named Nazareth as his choice, said no problems with her taxes or other issues arose.

Nazareth, a partner at the law firm Davis Polk & Wardwell, could not be reached for comment. Treasury and White House officials would not comment on the matter.

Nazareth’s withdrawal from consideration comes as critics say Geithner’s lacks the senior staff he needs to make critical decisions about the financial crisis. Not one of his top 17 deputies has been named, let alone confirmed.

Without senior leadership, lower-level Treasury employees can’t make decisions or represent the government in crucial conversations with banks and others.

At a Senate hearing Thursday about failed insurance giant American International Group Inc. — which has received four separate bailouts totaling more than $170 billion — Sen. Chris Dodd said he had asked Treasury for someone to appear, but that no one was available.

Read the rest:
http://finance.yahoo.com/news/Geithn
ers-choice-for-deputy-apf-14560893.html

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