The Republicans, who are a minority in Congress, held the unemployed hostage until they got their tax break for their constituency, their millionaire and billionaire pals. Only then would they agree to allow an extension of the unemployment benefits so those out of work could buy food for their families. Never mind that two thirds of the American people were against those tax cuts for the top two per cent. And don't bother that the Democrats still enjoy a large majority in both houses of Congress. The missing link was the leadership that we expected from our President. Obama has been eaten alive by the Republicans because he is not a fighter. For two years he has been jerked around by a mean-spirited opposition that has sought nothing but to bring him down.
Not only is the country run by a minority, the fact is that a very select group of people decide the domestic and foreign policies of these United States. The Democrats have come to stand for nothing, and Obama's presidency is now a study in compromise, appeasement, cowardice and failure. This was not the hope so many of us felt on Inauguration Day in 2009.
December 7, 2010
Tuesday, December 7, 2010
Tuesday, November 30, 2010
MOMENT OF TRUTH FOR OBAMA
We've come to the moment of truth for President Obama. Either he finds the courage to represent in plain English the suffering of those four million Americans who are losing their unemployment insurance and sticks to his policy of letting the Bush tax cuts expire for those making over $250,000, or he will be perceived as a weak leader who is presiding over a failed presidency.
There are no compromises or deals to be made with the likes of a Mitch McConnell or a John Boehner. They are simply not interested. They want to see Obama fail, and they will do whatever is necessary to see that he does.
No, the ball is now squarely in Obama's court. He must choose sides and take a stand. He must try to remember who elected him and act bravely on their behalf.
November 30, 2010
There are no compromises or deals to be made with the likes of a Mitch McConnell or a John Boehner. They are simply not interested. They want to see Obama fail, and they will do whatever is necessary to see that he does.
No, the ball is now squarely in Obama's court. He must choose sides and take a stand. He must try to remember who elected him and act bravely on their behalf.
November 30, 2010
Sunday, November 7, 2010
OBAMA AS JESUS
Swept into office two years ago with the overwhelming approval and unbridled hope of the American people along with a solidly Democratic congress, Barack Obama was given an opportunity few presidents have ever enjoyed. Now, two years later, how did Obama
manage to squander that opportunity and what can he do about it now?
Having inherited the worst financial calamity since the Great Depression and knowing next to nothing about economics, he surrounded himself with the very people who helped to create the crisis in the first place. Their advice was designed to help their buddies on Wall Street. Obama passively signed on.
A psychotherapist could have a field day with Barack Obama. But even to the layman
certain clues are self evident. Obama is without doubt intelligent, articulate, charming, polished, poised, smooth, professorial, cerebral, cool etc. Above all else his modus operandi is to bring people together. In fact, one could go so far as to see Obama thinking of himself as a sort of Jesus, always naively stating his willingness to turn the other cheek. In that respect he becomes more of a religious leader than a political leader. As such he lacks the desire for a good old fashioned fight with a Republican party whose only agenda, in the words of that idiot, Mitch McConnell, is to bring him down. To see Obama still offering an olive branch to those people in his speech following the devastating elections of November 2nd is to see a weak, seemingly lost president, who has apparently learned nothing from the never-ending barrage of upper cuts to the chin his bipartisan efforts have suffered during the past 22 months.
The people did not vote in the Republicans over the Democrats in order to cut the deficit. Boobus Americanus does not really care about deficits. To them the word is an abstraction. What they want is jobs.
Obama's only chance to avoid a failed presidency is to come right out of the gate immediately with a proactive jobs bill that addresses the country's stone age superstructure. This kind of legislation is how real jobs are created and how money is put squarely into the pockets of the American people instead of Wall Street. Then let the "party of no" say no to jobs and watch as they twist in the wind until 2012.
Finally, seizing the agenda right now must also include a thorough house cleaning. It is time to get rid of the old Cabinet and all of the other advisors, whose allegiance is to the "banksters" and the military establishment, and replace them with individuals who embrace the extremist idea of representing the American people. Obama has to stop preaching and instead put on the boxing gloves and bring the fight to his enemy. Unfortunately, Las Vegas odds makers place that eventuality near zero. Barack Obama is what he is: a teacher and not a strong leader who demonstrates decisive action even if that action must be adversarial in nature.
November 7, 2010
manage to squander that opportunity and what can he do about it now?
Having inherited the worst financial calamity since the Great Depression and knowing next to nothing about economics, he surrounded himself with the very people who helped to create the crisis in the first place. Their advice was designed to help their buddies on Wall Street. Obama passively signed on.
A psychotherapist could have a field day with Barack Obama. But even to the layman
certain clues are self evident. Obama is without doubt intelligent, articulate, charming, polished, poised, smooth, professorial, cerebral, cool etc. Above all else his modus operandi is to bring people together. In fact, one could go so far as to see Obama thinking of himself as a sort of Jesus, always naively stating his willingness to turn the other cheek. In that respect he becomes more of a religious leader than a political leader. As such he lacks the desire for a good old fashioned fight with a Republican party whose only agenda, in the words of that idiot, Mitch McConnell, is to bring him down. To see Obama still offering an olive branch to those people in his speech following the devastating elections of November 2nd is to see a weak, seemingly lost president, who has apparently learned nothing from the never-ending barrage of upper cuts to the chin his bipartisan efforts have suffered during the past 22 months.
The people did not vote in the Republicans over the Democrats in order to cut the deficit. Boobus Americanus does not really care about deficits. To them the word is an abstraction. What they want is jobs.
Obama's only chance to avoid a failed presidency is to come right out of the gate immediately with a proactive jobs bill that addresses the country's stone age superstructure. This kind of legislation is how real jobs are created and how money is put squarely into the pockets of the American people instead of Wall Street. Then let the "party of no" say no to jobs and watch as they twist in the wind until 2012.
Finally, seizing the agenda right now must also include a thorough house cleaning. It is time to get rid of the old Cabinet and all of the other advisors, whose allegiance is to the "banksters" and the military establishment, and replace them with individuals who embrace the extremist idea of representing the American people. Obama has to stop preaching and instead put on the boxing gloves and bring the fight to his enemy. Unfortunately, Las Vegas odds makers place that eventuality near zero. Barack Obama is what he is: a teacher and not a strong leader who demonstrates decisive action even if that action must be adversarial in nature.
November 7, 2010
Friday, October 15, 2010
THE GREATEST FINANCIAL FRAUD IN HISTORY?
The mainstream press is not talking about an unbelievable foreclosure fraud crisis that could affect 60 million properties in the United States. The big banks have lost the documents for 60 million mortgages. That's right, you read what I wrote correctly. They have lost track of promissory notes signed by the homeowners. Apparently, after physical paperwork was filled out and signed by the borrowers, the banks electronically filed the paperwork into a computerized system called the “Mortgage Electronic Registry System” (MERS). The banks lost track of the original paperwork, the note signed by the borrowers. In other words, these are the documents that actually prove the bank owns the properties. This means that in almost all of the states they lack the legal right to foreclose. So they have simply created a system where servicers hire foreclosure mill law firms whose business is to forge documents showing or purporting to show they have a legal right to foreclose.
Try to come to grips with the enormity of the problem the banks face.
There are 60 million homes which banks loaned money on, and now they might not be able to legally get the properties back if the homeowners default. But that's just the tip of the iceberg. Remember, the banks bundled these mortgages into trillions of dollars worth of securities otherwise known as over-the-counter derivatives. The bottom line is that there are now trillions of dollars in mortgage backed securities that could have NO backing!
This leaves a number of vital questions? Would you like to be the pension fund manager who bought that security? Do you think this just might cause an accounting problem for the banks? Do you think this could push some of the big banks into bankruptcy? Will there be another financial meltdown and government rescue?
While this "problem" could cause what might be the worst economic meltdown in history, it probably won't because the truth will be covered up. The banks are halting all foreclosures as they conduct a so-called "document review." I would call it by a different name. How about fraud, forgery and theft by deception. The Press won't be able to hide the crisis much longer, as two large class-action suits are pending.
October 7, 2010
Try to come to grips with the enormity of the problem the banks face.
There are 60 million homes which banks loaned money on, and now they might not be able to legally get the properties back if the homeowners default. But that's just the tip of the iceberg. Remember, the banks bundled these mortgages into trillions of dollars worth of securities otherwise known as over-the-counter derivatives. The bottom line is that there are now trillions of dollars in mortgage backed securities that could have NO backing!
This leaves a number of vital questions? Would you like to be the pension fund manager who bought that security? Do you think this just might cause an accounting problem for the banks? Do you think this could push some of the big banks into bankruptcy? Will there be another financial meltdown and government rescue?
While this "problem" could cause what might be the worst economic meltdown in history, it probably won't because the truth will be covered up. The banks are halting all foreclosures as they conduct a so-called "document review." I would call it by a different name. How about fraud, forgery and theft by deception. The Press won't be able to hide the crisis much longer, as two large class-action suits are pending.
October 7, 2010
Sunday, September 26, 2010
THE CURRENCY CRISIS BEGINS
Here in the Berkshires we're at least partially shielded from the financial desperation that people feel in other parts of the country. For example, Walmart's CEO just confirmed that
crowds of individuals, no longer employed and existing (as opposed to living) week to week, overwhelm Walmart stores throughout the country as midnight approaches in order to buy what they absolutely must have i.e. groceries, baby formula etc. The magic hour of midnight is when their "assistance cards" turn over and allow them to purchase the necessities of life for another week. The lines at Walmart's check out counters are the "bread lines" of what can only be called the Second Great Depression.
Suddenly, the endgame is becoming more transparent. With countries purposely weakening their currencies and threatening (legislation pending) to institute import duties, the always inevitable currency crisis appears to be underway. By attempting to gain export advantage while being able to repay their debts with cheaper currencies, the race to the bottom in fiat money is accelerating.
Just the hint that the Federal Reserve may shortly begin another round of quantitative easing (which is spinmanship for money printing), has sent wheat, corn, soybeans, coffee, sugar and cotton prices through the roof in the last few weeks. Soon those in the 2010 bread lines, along with the rest of us, will be paying a lot more for food and clothing while wages, if you're lucky enough to have any, remain flat. Can the cost of energy be far behind?
As the ongoing debasement of the U.S. dollar by our government and the Federal Reserve, a private consortium of bankers, gains speed, Americans, always the last to figure these things out, will finally notice that their dollars buy less and less. They will lose confidence in their currency. When that happens, the game will be over. Social unrest are polite words for what may follow.
This is serious stuff, folks. Look up from your reality shows and video games. Instead, focus on the barometer of economic chaos. Gold tells you all you have to know. The rest is up to you.
September 26, 2010
crowds of individuals, no longer employed and existing (as opposed to living) week to week, overwhelm Walmart stores throughout the country as midnight approaches in order to buy what they absolutely must have i.e. groceries, baby formula etc. The magic hour of midnight is when their "assistance cards" turn over and allow them to purchase the necessities of life for another week. The lines at Walmart's check out counters are the "bread lines" of what can only be called the Second Great Depression.
Suddenly, the endgame is becoming more transparent. With countries purposely weakening their currencies and threatening (legislation pending) to institute import duties, the always inevitable currency crisis appears to be underway. By attempting to gain export advantage while being able to repay their debts with cheaper currencies, the race to the bottom in fiat money is accelerating.
Just the hint that the Federal Reserve may shortly begin another round of quantitative easing (which is spinmanship for money printing), has sent wheat, corn, soybeans, coffee, sugar and cotton prices through the roof in the last few weeks. Soon those in the 2010 bread lines, along with the rest of us, will be paying a lot more for food and clothing while wages, if you're lucky enough to have any, remain flat. Can the cost of energy be far behind?
As the ongoing debasement of the U.S. dollar by our government and the Federal Reserve, a private consortium of bankers, gains speed, Americans, always the last to figure these things out, will finally notice that their dollars buy less and less. They will lose confidence in their currency. When that happens, the game will be over. Social unrest are polite words for what may follow.
This is serious stuff, folks. Look up from your reality shows and video games. Instead, focus on the barometer of economic chaos. Gold tells you all you have to know. The rest is up to you.
September 26, 2010
Friday, August 6, 2010
INFLATE OR DIE
Observing the economy over the last three years is like watching a slow motion train wreck. But to this writer the country is fast approaching an inflection point. The Federal Reserve, now more powerful than ever, is nonetheless being squeezed ever tighter between the proverbial rock and a hard place. Frightened to the point of psychosis at the prospect of deflation, yet worried to the core by the consequences of inflation, the Fed, propaganda aside, really doesn't know what to do.
Deflation and gold are the twin enemies of the Federal Reserve. The "D" word is unthinkable, as it brings back horrendous memories of the Great Depression. Gold, because it is real money, has been going up for ten straight years. That means the Federal Reserve's money and that of all the world's central banks have been going down. After all, they're just pieces of colored paper backed by absolutely nothing. So what's Gentle Ben (Bernanke) to do?
With the country and most of the states basically bankrupt, the nation turns to its politicians for wisdom. What they get is a Right Wing whose rhetoric has become so over-the-top that it approaches outright insanity. On the other side of the aisle is a president who still thinks he can do business with Republicans and has no stomach for a good old fashioned fight. He remains passionless, professorial, cerebral, above the fray. Yet, somehow, the American people still believe what the corporations and the government tell them. And they do as they're told. Other than the Tea Party lunatics, most everyone else remains firmly glued to their couches.
Finally, when the you know what hits the fan, both the Federal Reserve and the politicians will go the way they've always gone: print money and lots of it. So, if you had to place a bet, it would be inflate or die.
August 5, 2010
Deflation and gold are the twin enemies of the Federal Reserve. The "D" word is unthinkable, as it brings back horrendous memories of the Great Depression. Gold, because it is real money, has been going up for ten straight years. That means the Federal Reserve's money and that of all the world's central banks have been going down. After all, they're just pieces of colored paper backed by absolutely nothing. So what's Gentle Ben (Bernanke) to do?
With the country and most of the states basically bankrupt, the nation turns to its politicians for wisdom. What they get is a Right Wing whose rhetoric has become so over-the-top that it approaches outright insanity. On the other side of the aisle is a president who still thinks he can do business with Republicans and has no stomach for a good old fashioned fight. He remains passionless, professorial, cerebral, above the fray. Yet, somehow, the American people still believe what the corporations and the government tell them. And they do as they're told. Other than the Tea Party lunatics, most everyone else remains firmly glued to their couches.
Finally, when the you know what hits the fan, both the Federal Reserve and the politicians will go the way they've always gone: print money and lots of it. So, if you had to place a bet, it would be inflate or die.
August 5, 2010
Thursday, July 22, 2010
WHERE HAVE ALL THE TROPHY DEER GONE IN MAINE?
To the Editor:
Has it occurred to anyone that the reason there are no more trophy deer in the state of Maine is because you've shot them all? As usual, the blame is placed squarely on the predators i.e. the hated coyote when the predator-in-chief is Boobus Americanus a.k.a. demented hunters.
Throughout the history of mankind, hunting was the means to obtain food to get families through the long cold winter. Pursued in this manner, hunting culled the weakest individuals amongst the deer just as the coyote has always done. It doesn't take a rocket scientist to understand Darwin. Survival of the fittest has always worked if only left alone to do so. But then enter the trophy hunter. Going against nature he/she culls the herd by shooting the fittest and letting the weaker specimens reproduce. So, if you're trying to figure out what happened to all those trophy deer, just look on your wall.
CHARLES STEINHACKER
P.S. Don't tell anyone, but there are a few magnificent specimens left. BUT THEY ARE ARMED WITH SHOTGUNS, RIFLES AND AK-47s. They are waiting in ambush to turn the tables on the mentally-challenged trophy hunters. And these deer have access to the very best taxidermists in the state.
July 22, 2010
Has it occurred to anyone that the reason there are no more trophy deer in the state of Maine is because you've shot them all? As usual, the blame is placed squarely on the predators i.e. the hated coyote when the predator-in-chief is Boobus Americanus a.k.a. demented hunters.
Throughout the history of mankind, hunting was the means to obtain food to get families through the long cold winter. Pursued in this manner, hunting culled the weakest individuals amongst the deer just as the coyote has always done. It doesn't take a rocket scientist to understand Darwin. Survival of the fittest has always worked if only left alone to do so. But then enter the trophy hunter. Going against nature he/she culls the herd by shooting the fittest and letting the weaker specimens reproduce. So, if you're trying to figure out what happened to all those trophy deer, just look on your wall.
CHARLES STEINHACKER
P.S. Don't tell anyone, but there are a few magnificent specimens left. BUT THEY ARE ARMED WITH SHOTGUNS, RIFLES AND AK-47s. They are waiting in ambush to turn the tables on the mentally-challenged trophy hunters. And these deer have access to the very best taxidermists in the state.
July 22, 2010
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