Archive for the ‘LBJ’ Category

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

March 12, 2009

Stupid games like card check are not good for the economy: so why are we playing them now?
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Time to end stupid games and business as usual.  It’s the economy, stupid.

Pork?  Slash it.  Nancy’s aircraft: wanton waste of taxpayer money.  Don’t let them eat cake: fly commercial, bitch!


Dumb and Dumber: I’m starting to think this is Obama and Geithner

“It is time for President Obama to focus his considerable leadership and communication skills on the financial crisis – to speak candidly with the people about the magnitude of the problem, to embrace a solution commensurate with the problem, and to do whatever it takes to persuade Congress and the people to accept it,” wrote William Galston, a former senior adviser to President Clinton, in The New Republic.

Barack Obama should forget about spending billions of dollars on education and everything else and read a little recent history.  Recent economic, political and world history.

Money is power.  It’s the economy, stupid.

That phrase, coined by James Carville, got Bill Clinton into the White House.

The “we can have it all” thought process of Barack Obama might not get us what we want.  Be careful what you wish for.

I’ll join the team of Warren Buffett who suggests that the president needs to go to war to save the economy and deal with health care, education, climate change, energy and the rest later.

Just today, Thursday, March 12, 2009:

—The number of initial claims for jobless benefits rose last week, while the total number of people continuing to receive benefits set a record high, the government said Thursday.

— Foreclosure filings in the U.S. climbed 30 percent in February from a year earlier as the worsening economy thwarted efforts by the government and lenders to prevent homeowners from losing property.

—The net worth of American households fell by the largest amount in more than a half-century of record keeping during the fourth quarter of last year.The Federal Reserve said Thursday that household net worth dropped by a record 9 percent from the level in the third quarter.

Some economists say the unemployment rate could reach 10 percent by the end of this year, from its current level of 8.1 percent.

And our unemployment measures don’t see relatively highly skilled and highly paid workers now cleaning toilets….

The stock market may be up today but we all know it is down hugely since last fall.

Except on education the president should read a little history.  LBJ tried to do it all while the economy was shakey and he lost everything. 

The casino Barack Obama is spending our money in is the world and China, which holds much of the U.S. debt, and China could break his legs…..

But before China bearks Obama’s legs something else happens: because China sees an economically weak America and a President it perceives as weak, America and Obama will be tested.  Again and again.

And not just by China.

Related:
China Making It Clear: Won’t Roll Over, Do Tricks for Barack, Hillary
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 Barack, Hillary: Moronic “Reset” Idea for Relations With Russia

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

53% Say It’s Likely the U.S. Will Enter a Depression

Obama Reelection Effort Begins

Obama: Playing not to lose

See:
http://news.yahoo.com/s/ap/2
0090312/ap_on_bi_ge/economy

http://www.bloomberg.com/ap
ps/news?pid=20601206&sid=a
qtJdtiZTJtk

http://michellemalkin.com/2009
/03/12/threat-of-card-check-legi
slation-sends-wal-mart-stock-down/

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Obama’s Economic Strategy Akin To LBJ’s Vietnam Fiasco: “Pour In More”

March 6, 2009

With America embroiled in its biggest disaster of the 20th Century, the Vietnam War, the President of the United States, Lyndon Baines Johnson, decided that he himslef should micro-manage the entire war effort, after his heavy reliance upon Defense Secretary Robert McNamera.

McNamera and his top advisors were called “Whiz Kids;” and they embraced a new thinking called systems analysis.

McNamera’s charts and graphs were never wrong: until Communists overwhelmed Vietnam in 1975.

The Team LBJ startegy for a time in Vietnam could easily have been called “Pour in More.”

LBJ also decided, despite the costs of the war in Vietnam, he could still execute his vast social reforms in the “Great Society.”

He was wrong.

Robert McNamara
McNamera pours in more troops…..

President Obama, a man not short of brainpower and hubris, might be falling into the LBJ trap.

Obama is currently relying upon economic advisors and economic advice that could possibly be totally wrong for the nation.  Keynesian economics, as many say, is an unproven theory: and far from a certain fix.

And “Pour in More” doen’t seem to be working just yet.

Worse still: those that predict economic recovery, like businesses in a position to hire and those able to express confidence in economic growth by investing, are not pouring in anything.  They are bailing out.

As Warren E. Buffett has said: “Beware of geeks bearing formulas.”  He said this about the young lions of  economic thinking around just now, like Treasury Secretary Timothy Geithner.

He could have said the same thing about Robert McNamera.

And Obama’s move to execute a broad social agenda including health care reform, energy use overhaul and other spending efforts, might just remind some of the LBJ dilemma.  Obama is waging a war to revive the economy; yet he insists upon also setting America upon a totally new direction that will cost unknown trillions — even as he allows business as usual pork spending and waste to be executed in Congress.

Related:
Households, Businesses Have Stopped Spending; Now It’s Congressional Responsibility Time

Stock Markets: When Will the Bull Return?

http://throwingstones.wordpress.com/20
09/03/05/moderates-uneasy-with-obam
a-plan-manu-raju-politicocom/

 Unemployment Highest Since 1983; Business Leaders Have No Confidence in Obama Economic Plan, Team

http://michellemalkin.com/2009/03/06/cube-s
teak-americans-vs-the-wagyu-beef-white-house/

Venezuela’s Chavez Urges Obama, U.S. Down Socialist Path

Treasury island: Geithner’s lost crew 

Obama’s Radicalism Is Killing the Stock Market

 NYT: After March 6 Economic News, “2009 is Probably a Lost Cause”

“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