Archive for the ‘JFK’ Category

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

********

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….

****************

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/

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“Republicans Rape Truth,” and The “Over the Top”

February 12, 2009

You come to us today on your bicycles after buying Girl Scout cookies and helping out Mother Teresa and telling us ‘we’re sorry, we didn’t mean it, we won’t do it again, trust us.’ Well, I have some people in my constituency that actually robbed some of your banks and they say the same thing.”

“America doesn’t trust you any more… I don’t have one single penny in any of your banks — not one…. I don’t want my money put into CDOs and credit default swaps and humongous bonuses.”

That tongue lashing came from Rep. Michael Capuano (D-MASS) to some of America’s top bankers yesterday.

Cute, self-serving and unnecessary.

Here’s a suggestion nobody will follow — aimed at all those involved in political theater: and you know who you are.

Over the top language just used to get your face on TV and, worse, to distort the truth, demeans our political pocess and tells our children that politics and lawmaking is a game of buffoonery for buffoons.

Politics, we have to conclude, is a say anything and get yourself on TV game.

Rod Blagoyevich showed that.

And he got into trouble.

But nobody seems to have learned anything from him.  Blago has been dismissed as an abhorrent aberration.  An abomination.  Shame on him.

But every other jerkweeed still in office can say what he wants.

Over night, nearly every TV report on the testimony of bank executives before Congress started with “Bankers were hauled before Congress yesterday…”

Well, “hauled,” in the care of people and not furniture, is a pejorative use of the word.

People going before Congress are being “hauled” these days because they are about to be pilloried as in exposed to ridicule and abuse.

That’s what it looks like so that is why media thinks “hauled” is appropriate.

Listen to the tone of testimoy and ask yourself, “are we seeking truth? ” Or are we  just being critical in the form of a question?

So you have to expect media to use a word like “hauled” when they  see the antics of Congressmen acting like moneys and putting words into the mouths of those executives they invited to testify.  Often at Congressional testimony the witnesses are  in jobs those we elected could never, ever be expected to do themselves because they just aren’t good enough.

Demonizing executives and others at testimony is demeaning.  Demonizing makes one feel superior, I suppose….  But in the end the practicioners might just end up like Blago (and I hope they do).

The legislators are making a mockery of the systems created by Jefferson and Washington to do what?  Get on TV?  Get reelected?  Distort the truth?  Create wrong impressions?  All of the above?

I remember when party leaders would quietly put an end to childish behavior.  But now there are too few senior legistalors left who have good sense and good manners themselves.

John Warner went home.

Are these antics in hearings meant to show that lawmakers are superior to workers and executives?

Well, you know what?  I just don’t believe that the lawmakers are smarter than anybody….  especially when they need to grab the “over the top” tool so often.

Making money pays taxes and hires people and pays for health care.  Witnesses who make money and provide jobs and pay taxes should be treated with respect.  In fact; we should treat all with respect and allow them to dig their own graves — which is what many lawmakers are generally good at.

President Obama, no virgin at “over the top” language, said Monday night,  “the federal government is the only entity left with the resources to jolt our economy back into life.”

He didn’t even say “good government.”

He also characterized the stimulus debate as a talk between those who had a solution (Democrats) and those who had no solution (Republicans). Of course if this were true there would be no need for bipartisanship — which has been sent to the ash heap after what?  Three weeks?

Can we never be honest? 

No.

Our government has become a pack of dishonest hacks making a mockery of good government.  And that government is about to get even bigger.

Those with some years and wisom watch all this over the top buffoonery on TV and shake their heads in dismay — many of us retired and will die soon, thank God…. with memories of Truman, FDR and Lincoln.

Well, not Lincoln.  That would be over the top.

The youngsters among us might just watch these jerks on TV because they have no jobs and are awaiting the only institution the president says can help: government.

Good luck.

Bad government.

Related:
“Banking Spanking”: Barney Franks Unleashed

Obama: Let’s Be More Honest About Economy, Plans, Republicans

Quotes from the banking hearings:
http://www.reuters.com/article/ousiv/id
USTRE51A7GY20090211

President Catastrophe: Listen to FDR, JFK

February 6, 2009

“We have nothing to fear but fear itself.”

That was Franklin Delano Roosevelt. 

After the attack on Pearl Harbor he called the day of the attack  “A day that will live in infamy.”

There was no “catastrophe.”

After John Kennedy’s PT boat was cut in half by a much larger enemy warship, he gathered together his stranded crew and swam with them — carried some — to an island and safety. 
.
Then he walked out on to a coral reef and swam into the sea lanes, night after night, to flag down a passing friendly ship and rescue.

He even carved a message on a coconut.

No wringing of the hands and no “catastrophe.”

And while president, JFK said, “Ask not, what your country can do for you.  Ask what you an do for your country.”

FDR also faced the most severe depression in American history and he created a string of jobs programs and “stimulative work,” the WPA, CCC and a bunch of other programs.  None of that eneded the depression.  World War II ended the depression.

But FDR never declared a “catastrophe.”

Obama: where’s the hope?  When will you roll your sleeves up and go to work with Republicans on the stimulus?

Speaking to a room full of Democrats at a Spa last night was a great photo op, I guess,  of President Catastrophe.  Because the catastrophe is maybe Mr. Obama thinks he doesn’t need to work with Republicans because “I won.”

I know what FDR might say about Obama’s trip to the Spa yesterday.  “If a President of the United States goes to a Spa and he doesn’t have polio he had better have a good excuse. And he had better have all the more important work done.”

“The world doesn’t stop to let presidents’ learn,” said historian and former Republican Speaker of the House Newt Gingrich on NBC’s Today Show this morning.

Sadly, there is some obvious learning that needs to be faced — here and now.

John E. Carey
Wakefield Chapel, Virginia

Obama Urges Legislative Sprint, Largest Spending Ever On Las Vegas Gamble

January 9, 2009

Beware “an atmosphere of haste and panic brought on by recession.”

That line came from economists in the John F. Kennedy era.

We need a little of that wisdom now.

It is by no means certain that more massive spending will solve the current recession and “stimulate” the economy toward growth and prosperity.

In fact, the entire proposition is a gamble.  A Vegas long shot.

Why rush?

It’s your money.  It’s my money too but not much is left.

David Brooks of The New York Times says, “Obama is compelled to jump into unchartered territory, with no compass or guide.”

And speed as his number one ally.

What is certain is that legislative rushing always yields bad laws….

The President-elect made an impassioned plea for urgency on his stimulus plan in a speech yesterday.

“It was a remarkable speech for someone who isn’t president yet and hasn’t revealed the details of his economic rescue plan,” ABC’s Jake Tapper reports. “The most pointed criticism of the plan came from Democrats who objected to Obama’s plans to cut taxes for businesses and for middle class families.”

John E. Carey
Peace and Freedom

The government report on jobs today is expected to report about 7% unemployment; which will probably rise each month all year despite the stimulus….

*****************

By David Brooks
The New York Times

Christina Romer is Barack Obama’s choice to lead his Council of Economic Advisers. In 1994, Romer and her husband, David, wrote an essay entitled “What Ends Recessions?” In the first paragraph, the Romers noted that “economists seem strangely unsure about what to tell policy makers to do to end recessions.”

US dollar notes are checked at a bank. The dollar held firm ... 

The Romers surveyed the recessions of the previous 50 years to try to reach some conclusions about what works. “Our central conclusion is that monetary policy alone is a sufficiently powerful and flexible tool to end recessions,” they wrote. Automatic spending policies like unemployment insurance have sometimes helped. Discretionary policies, like tax cuts and stimulus plans, have not been of much use. As they put it: “Discretionary fiscal policy, in contrast, does not appear to have had an important role in generating recoveries.”

The Romers briefly described how different administrations responded to recessions. All the administrations, Democratic and Republican, resisted large-scale fiscal stimulus plans. They didn’t believe they could time a stimulus correctly. They didn’t trust Congress to pass the bills quickly or cleanly. They decided they shouldn’t be making policy in what Kennedy administration economists called “an atmosphere of haste and panic brought on by recession.”

The Romers’ essay exemplifies the economic doctrine that reigned up until a few months ago: fiscal stimulus plans that try to time a recession are dangerous, unproven and unnecessary.

That doctrine has suddenly vanished. But not because we suddenly know how to create effective stimulus plans. Last year, the Congress passed a $165 billion plan that seems to have done almost nothing for the economy. The doctrine has vanished because this recession is deeper than the others and we’ve run out of other stuff to do.

Today there is wide support for fiscal stimulus. It’s just that there is no historical experience to tell us how to do it, and there is no agreement on how to make it work. The economists’ prescriptions are all over the map.

Obama is compelled to jump into unchartered territory, with no compass or guide. He could have chosen to spend the big money that is apparently required in cautious ways. He could have chosen to pick out a few easily implemented policies that could be enacted in a way that is targeted, temporary and timely. He could have chosen to merely cut the payroll tax, boost aid to the states and do infrastructure projects.

Read the rest:
http://www.nytimes.com/2009/01/09/op
inion/09brooks.html?_r=1

********************

Noting that 1.9 million jobs have been lost since the start of the recession a year ago — two-thirds of them since September — President-elect Barack Obama invoked public spending as the best way to get a dead-in-the-water economy moving again. “This painful crisis,” he said in a statement, is an opportunity “to improve the lives of ordinary people by rebuilding roads and modernizing schools for our children,” and by investing in clean energy projects.

A goal of all this spending is to generate 2.5 million jobs over the next two years, he said, repeating an earlier pledge. Given the accelerating job losses, hitting that target would barely recover the jobs that have disappeared over the last year.

Read the rest:
http://www.nytimes.com/2008/12/06/business/economy
/06jobs.html?_r=1&scp=10&sq=unemployment&st=cse

***********************

By JEANNINE AVERSA, AP Economics Writer

Even with a new government stimulus, the unemployment rate is expected to keep rising this year. Some think it could hit 9 percent or 10 percent at the end of this year.

Read the rest:
http://news.yahoo.com/s/ap/20090109/ap_on_bi_
go_ec_fi/financial_meltdown

***********************

CNN:
http://money.cnn.com/2009/01/09/markets/stocks
watch/index.htm?postversion=2009010904

Related:
Democrats Pounce on Obama Stimulus
.
Where is The Plan To Make Economy Bigger, Increase Wealth?
.
Pelosi, Committee Told, “America becoming the nation of the unemployed,” — Congress to Blame?