Site for Free Markets and Free People

Tuesday, September 30, 2008

Bush Approves $25 Billion Auto Bailout

Now this is a bailout that, unlike the financial proposal, will almost certainly never be recouped. As the public is focused on the financial crisis, Bush covertly approved a Democrat-led $25 billion automotive bailout, which forces new energy standards on the Big 3, as well as gives the government a permanent seat at the table because of its stake in the companies.

Although the amount is much less than the financial package, this is more infuriating. The union members get to keep their above-market benefits and defined pensions...and the taxpayers get to pay for it because the companies cannot.

This country is moving quickly towards a path of socialism.

Federal Gov't Employees Get 3.9% Pay Increase

Rest assured folks. Given the financial crisis, I'm sure many of you are worried that there won't be enough money for the federal government. But last week the House approved a 3.9% average pay increase for all federal workers in 2009.

You can now sleep at night knowing that your federal workers will be just fine regardless of a recession or a depression. And if we have to have the government raise our taxes so we can give them a pay raise, then that's what will happen.

World Leaders Call on Bush for Help

As is usually the case, when other countries get into trouble, either security-wise or economically, they come running to the U.S. World leaders are calling President Bush to help save their economies.

"The US must take its responsibilities in this situation, must show statesmanship for the sake of their own companies and for the sake of the world," European Commission spokesman Johannes Laitenberger said.

British Prime Minister Gordon Brown said he had sent a message to the White House to underline "the importance that we attach to taking decisive action". New Japanese premier Taro Aso said: "We should not let the world financial system collapse."

Wasn't it just 48 hours ago that foreign leaders were saying the U.S. is no longer the leader of the world? Aren't they opposed to unilateral U.S. action? How quickly opinions change when they need something...

Where is Congress?

Armageddon is practically here according to Pelosi, Bush, Bernanke, Paulson, Barney Frank, Harry Reid, Barack Obama, John McCain,....

So if this is really that important,
1) Why is Congress off for 2 days for Rosh Hashanah?
2) Why did Pelosi not ask any of her friends or allies to vote yes?
3) Why did Barney Frank not get his fellow Democrats on the House Banking Committee to vote yes?

Victor Davis Hanson: We Are Leaderless

Victor Davis Hanson explains the situation well - that we simply don't have any leaders in government right now who seem capable of handling this crisis.

Fatwa Against Zardari

After meeting with Sarah Palin, a religious leader in Pakistan issued a fatwa against Pakistani President Zardari for his "flirtation" with Palin.

Come to think of it, if these fatwas become more publicized, perhaps the world will see that many Muslims still belong in the Middle Ages and thereby convert to another religion.

The GOP's Real Go-To Guy

Zev Chafets of the LA Times pens a good editorial about the most influential conservative voice in America - Rush Limbaugh. While critics often depict Rush as a radical full of hot air (mainly because they don't listen), Chafets sees him as a brilliant communicator, a sharp mind and a great wit.

Despite what McCain or other "moderate" Republicans might say about Rush Limbaugh, they know they are extremely lucky to have someone like him on their side. Very simply, he is successful because he is the voice of 15-20 million Americans.

Monday, September 29, 2008

Karl Rove's Analysis: Pelosi Let the Bill Fail

If you own stocks that were down 20% today (or if you work for a firm that went under today), you should listen to Karl Rove's analysis of why the bill failed today. It will truly infuriate you.

The bottom line is that Nancy Pelosi could have gotten the 10 votes she needed if she wanted the bill to pass. Several of her best friends, allies and committee chairs were told they could vote no if they were in a reasonably tough re-election campaign. Further, even Democrat members of Barney Frank's Banking Comittee were allowed to vote now. Make no mistake about it - 94 Democrats voted against the bill and were allowed to do so - it's questionable whether it's because a crisis gives Obama an advantage in the election, whether it protects vulnerable Democrat House members or it allows a really bad Democrat-only bill to re-emerge at the end of the week. But this bill could have passed with just very minimal effort from Pelosi. Meanwhile, she insulted Republicans in every way possible just prior to the vote. Pretty incredible stuff but worth listening to Rove's analysis.

Pelosi Praises Barney Frank Right Before Failed Vote

Nancy Pelosi's ineptness grows by the second. This was part of her statement just before the vote failed.

I must recognize the outstanding leadership provided by Chairman Barney Frank, whose enormous intellectual and strategic abilities have never before been so urgently needed, or so widely admired.

This is the same Barney Frank who steadfastly refused to change Fannie Mae or Freddie Mac despite their widespread accounting scandals. The other parts of her speech were


So the bill has failed, with 133 Republicans and 95 Democrats voting against the plan. Let the spin begin about who's fault it is.

I will say this - Pelosi is a complete and total failure. She began slamming and insulting Republicans even as they were debating, thus alienating anyone on the fence. And then she couldn't even corral another 12 Democrats to pass the measure. Leadership?

Btw, where is Barack Obama? Doesn't he have influence with House Democrats? Why is he absent? (No, McCain has never had much pull with House Conservatives.)

Apparently Pelosi decided to ad lib from the prepared remarks. Take it from Obama - don't ad lib - ever. Just read what someone else wrote for you and you won't sound like a complete idiot.

Obama issues a statement from Colorado on the campaign trail:
"Democrats, Republicans, step up to the plate, get it done." Thanks BO - that should get the job done.

Congress Set to Adjourn without AMT Relief Bill

The rhetoric never lives up to the actions. The Democrat Congress are set to adjourn for the year without a bill that provides relief to the AMT tax, which will fall on 22 million people next year. I think this is as important as the $700B rescue bill.

My other question is, if this rescue bill is so dire, why don't the Democrats just pass the bill and then take the full credit for passing it? The truth is that this is all about presidential politics. If the bill helps avoid a market crash, great. But the true goal here is to make it appear that we are headed for another Great Depression. If we actually get a Depression, then it's all Bush's fault (despite the fact that Dems control Congress). If we avoid it, then the Dems saved the day.

Sweden Cutting Corporate Tax Rates

From the WSJ today. Sweden, one of the most punitive taxation domiciles in the world, is cutting its corporate tax rates to stay competitive.

"The corporate tax is one of the taxes which large companies really study when they plan to set up business somewhere," says Jan Björklund, leader of the country's Liberal Party, in promoting the tax cut plan. The corporate tax reduction will bring the Swedish rate down to 26.3% from 28%, continuing its fall from a high of 57% in 1987. This means that Swedes will soon have a corporate tax rate one-third lower than the U.S. average of 39.5% (the 35% federal rate plus the state average).

You know our business climate is not good when you can save dramatically on taxes by moving your business to Sweden!

Obama Says He Deserves Credit for Bill

Yes, Barack Obama thinks that he was the key figure in shaping the financial rescue bill.

"None of those [taxpayer protection provisions] were in the president's provisions. They are identical to the things I called for the day that (Treasury) Secretary (Henry) Paulson released his package," Obama said. "That I think is an indication of the degree to which when it comes to protecting taxpayers, I was pushing very hard and involved in shaping those provisions."

Asked during an interview on CBS' "Face the Nation" whether McCain deserved credit for bringing lawmakers together, Obama said "no."

"Here are the facts: For two weeks I was on the phone everyday with Secretary Paulson and the congressional leaders making sure that the principles that have been ultimately adopted were incorporated in the bill," Obama said.

Hmm. Obama says that the bill should have some taxpayer protections (as did the entire Congress) and they are included in the bill. I guess that means it was all Obama's work. I don't know how anyone can believe a single work this guy says.

Sunday, September 28, 2008

Final Rescue Bill Summary Comparison

Right Wing News put together a good comparative summary chart of the original Paulson ask vs. the Dodd-Frank proposal vs. the final bill. For those who are opposed to the blank-check-for government bill (ie. the Paulson and/or Democrat proposal), the final product looks a lot better.

Democrats Don't Need Rules on Rescue Pkg

OK, so the financial rescue package is supposed to avert an Armageddon. If we don't pass this, we will have bank runs and so forth. So when Hank Paulson asked for the each party of each house to send one representative to negotiate the final details, the House and Senate GOP each sent one. The Senate Dems sent five and the House Dems sent 3. Who's trying to blow this up?

Saturday, September 27, 2008

New Obama Decree: No Opposition Voices Allowed

I believe that the "fascism" that Left-wingers accuse Bush of instituting is literally being carried out by the Obama campaign. At a rally at Mary Washington University in Virginia, the campaign outlawed all banners and signs, lest they say something unflattering about the Anointed One.

In Missouri, the Obama campaign has threatened litigation against anyone or any group that insults or criticizes Obama. (Granted, the campaign knows they wouldn't win, but they believe the threat alone will deter people from speaking out against him.)

Missouri Gov. Matt Blount responded harshly to the Obama campaign's tactics.

“St. Louis County Circuit Attorney Bob McCulloch, St. Louis City Circuit Attorney Jennifer Joyce, Jefferson County Sheriff Glenn Boyer, and Obama and the leader of his Missouri campaign Senator Claire McCaskill have attached the stench of police state tactics to the Obama-Biden campaign.

“What Senator Obama and his helpers are doing is scandalous beyond words, the party that claims to be the party of Thomas Jefferson is abusing the justice system and offices of public trust to silence political criticism with threats of prosecution and criminal punishment.

...“Barack Obama needs to grow up. Leftist blogs and others in the press constantly say false things about me and my family. Usually, we ignore false and scurrilous accusations because the purveyors have no credibility. When necessary, we refute them. Enlisting Missouri law enforcement to intimidate people and kill free debate is reminiscent of the Sedition Acts - not a free society.”

This move is just strange - how or why any campaign would threaten a lawsuit simply because of potential claims (whether true, exaggerated or untrue) is beyond crazy.

Debate Thoughts

Since I had no interest in hearing what I already know about the two men, here is Byron York's review of the debate. Apparently, no one said anything outlandishly dumb, but Obama was playing the student to McCain as teacher.

I don't think these debates will make much of a difference. People who are going to vote for Obama are not going to change their minds. After all, he's already shown more inexperience, incompetence and radicalism than any presidential candidate in history and his supporters couldn't care less.

A Banking CEO's Perspective

John Allison, President & CEO of BB&T, has written a letter to Congress with a few suggestions about a rescue bill. Among the observations I think are interesting:

1) Freddie Mac and Fannie Mae are the primary cause of the mortgage crisis...the problems in the financial system have been caused by government policies including, affordable housing (now sub-prime)...

10) The proposed bankruptcy “cram down” will severely negatively impact mortgage markets and will damage well run institutions. This will provide an incentive for homeowners who are able to pay their mortgages, but have a loss in their house, to take bankruptcy and force losses on banks. (Banks would not have received the gains had the houses appreciated.) This will substantially increase the risk in mortgage lending and make mortgage pricing much higher in the future.

11) Fair Value accounting should be changed immediately. It does not work when there are no market prices. If we had Fair Value accounting, as interpreted today, in the early 1990’s the United States financial system would have crashed. Accounting should not drive economic activity, it should reflect it.

14) The primary beneficiaries of the proposed rescue are Goldman Sachs and Morgan Stanley...

Friday, September 26, 2008

The Truth behind the White House Meeting

News is coming out about what actually happened in the White House meeting. There was no deal going into the meeting.

Apparently all the Dems in the room deferred to Obama, who was
handed notes from an email sent by a Goldman Sachs employee and Obama fundraiser about concerns of the House GOP bill. So in an effort to look presidential, Obama began by repeating the criticisms of the House GOP bill and then turned the meeting back to Paulson. Having no clue what Obama was talking about, the meeting descended into chaos and he couldn't regain control.

McCain didn't say much but was trying to be conciliatory to keep the meeting going, but to no avail. Of course, the Democratic spin control began immediately afterwards, fearful of how Obama would look if he were seen chairing a meeting that resulted in a disaster. So the spin is that there was a deal, McCain showed up and blew it up. The House GOP was never onboard - but despite this, Pelosi already has the votes if she really wants to pass it.

Bailout to Include More Funds for ACORN?

According to Sen. Linsdey Graham, a portion of the profits from any bailout would go to the Housing Trust Fund, which then sends money to Far Left groups such as ACORN (yes, the group that was just indicted again for vote fraud in Detroit). While I think Michelle Malkin overstates the case, there's sure to be plenty in any rescue bill that will anger responsible taxpayers.

Just a Reminder - Dems Can Pass Bill

Hot Air has a good reminder for everyone. The Republicans in the House are not capable of blocking the bill. The Democrats have the majority and Pelosi can pass it if she wants.

The Democrats just won't have anyone to blame if the bill went wrong. (Who am I kidding - they would just blame Bush.)

The Arbitrary $700 Billion

I'm generally in favor of some type of restructuring bill from Congress because 1) it will help the economy recover faster; 2) it will help the stock market, in which I have an interest; and 3) the next Administration is going to spend a ton of money anyway, so we might as well get at least some benefit for it.

But the funny thing about this proposed bill is that the details are all sketchy - even the $700 billion figure.

"It's not based on any particular data point," a Treasury spokeswoman told Tuesday. "We just wanted to choose a really large number."

This plan is going to be around for a few years, so if it take s the government an extra few days to do it the right way, I'm all in favor of it. If FDR had done the same thing, we might not have multi-trillion deficits in SS and Medicare today.

Thursday, September 25, 2008

Downpayment Requirements Reduced in '99

Just in case anyone has any doubts about when Fannie Mae began to reduce downpayment requirements, thus opening up subprime loans to millions...

(This means Bill O'Reilly, who had the audacity to suggest that Clinton had nothing to do with it and it was all Bush's fault. Further, he said that all these "right wing idiots" have no idea what they're talking about it. That guy gets dumber with each passing day.)

Bill Clinton Agrees: Dems Caused this Mess

Bill Clinton agrees that it was Democrat obstructionism that helped cause the mess with Fannie Mae and Freddie Mac.

Obama: McCain Following My Lead

The audacity continues. Obama said today that he is happy that John McCain has followed his lead in supporting some of the proposed financial solutions and that he finds it "outrageous" that taxpayers have to pay the burden of the "greed" of Wall Street.

He didn't mention that he was opposed to every measure to rein in Fannie and Freddie - or that he was one of their largest lobbying recipients.

The rumor is that he's also "shocked" to find that there is gambling in Casablanca.

Obama Fundraiser Meets with Ahmadinejad

A top Obama supporter and fundraiser met with Iran's Ahmadinejad in NY today. This probably should be newsworthy, since Obama himself already said he, too would love to meet with him.

Bush's Speech Too Bipartisan

Overall I thought the President gave a pretty good summary of the financial situation. But I agree wholeheartedly with these comments from Powerline.

What annoyed me most about Bush's speech, as usual, was its bipartisan high-mindedness. He reviewed the history of the mortgage crisis without mentioning his own efforts to rein in Fannie and Freddy, the Democrats' frustration of those efforts, the Democrats' use of Fannie and Freddy as honey-pots, or other relevant historical details. It was a sanitized history, such as might have been related by anti-reform Democrats like Chris Dodd or Barack Obama.

No doubt Bush thought that such discretion was necessary to achieve a bipartisan solution to the problem at hand, but we can be sure that he will get no appreciation from the Democrats, who will misrepresent the historical record for their own political gain at every opportunity.

This is not a "bipartisan problem." This problem's roots are clearly due to Fannie Mae and Freddie Mac and the extension of loans to those who should not have received them. And these institutions were the darlings of Democrats. I suppose it's why I can't be a politician - I'm too truthful and I lay blame where it should lie.

Jamie Gorelick Received Countrywide Preferential Mortgage

The WSJ reported today that Jamie Gorelick, the influential Democrat, Obama supporter and #2 to Janet Reno in the Clinton Administration, received a previously undisclosed "friends of Angelo" mortgage from Countrywide. Add that to James Johnson, Franklin Raines and Christopher Dodd and what you have is a full-fledged Democrat scandal of the highest order. But you won't hear much about it on the nightly news because they are also all fervent Obama supporters.

Gorelick claims that she never knew she was receiving any favortism, which as Vice Chairman of Fannie Mae, is almost impossible to believe. In any event, if Scooter Libby faced a prison sentence for forgetting about a conversation related to a non-crime, Gorelick & Co. should all be subpoenaed and prosecuted.

Wednesday, September 24, 2008

Dem House Clears $25 Billion Bailout of Big 3

People are talking about the $700 billion "bailout" of the finance sector, but the actual cost is questionable - it might end up making the government money or it might cost the government a lot of money. And not doing something, according to Warren Buffet, Jack Welch, President Bush, Hank Paulson and Ben Bernanke, would be an economic disaster. As much as I don't like this amount of money being decided by politicians, I think something needs to be done to avoid a further financial and economic collapse.

But there is almost no question that the $25 billion loan to the automakers approved by the Democrat-led House today is universally bad. The automotive companies are losing money because they are large welfare programs (health care and defined benefit pension funds) that also happen to make a few cars. There is no systemic risk to the country if the firms don't get the loans - and now that the government has money at risk, they will inevitably influence mileage standards and overall corporate strategy (Pelosi thinks they should focus almost solely on electric and hybrid cars and no SUVs). I hope President Bush draws a line in the sand and vetoes this bill.

Obama Making Presidential Commemorative Coin

Barack Obama is already having commemorative gold coins made, with his picture and the title "President of the United States." The audacity of Americans to actually hold an election that might throw his coronation into question...

OH Dem Election Official Rejects Thousands of GOP Ballots

Thousands of Republicans who requested absentee ballots were rejected by Ohio Democrat Secretary of State Jennifer Brunner. Her excuse was that the applicants did not check a box that said "I am a qualified elector." This application was designed by McCain's campaign and according to state law, the box does not need to be there or be checked, but for Brunner, she seems to prefer the "Chicago way."

"Well, I tell you what, it helps in Ohio that we've got Democrats in charge of the machines," Barack Obama said on Sept. 3.

Catching up with George Obama

Gateway Pundit has an update on what's going on in the life of George Hussein Obama, Barack's half-brother in Kenya. And he still doesn't even have a "hut, sweet hut" sign on his front door.

Barack's biblical passage that he quoted: "whatever you do for the least of my brothers, you do for me" apparently doesn't apply in this situation.

Tuesday, September 23, 2008

Joe Biden: Gaffe Machine

See if you can spot the two major gaffes with this Joe Biden statement:

"When the stock market crashed, Franklin D. Roosevelt got on the television and didn't just talk about the, you know, the princes of greed. He said, 'Look, here's what happened."

I wonder what the media would say if Palin or McCain said this.

McCain Would Select....Cuomo as SEC Chair?

This weekend John McCain said that he would like to appoint someone like Andrew Cuomo as SEC Chairman instead of Chris Cox. Hmmm. Perhaps McCain never read this article from the Village Voice, which explains in detail that, Cuomo was the Housing and Urban Development Director under Clinton and was the major driving force behind forcing Fannie and Freddie to issue subprime loans to people who should never have received them.

Yes, that Andrew Cuomo. McCain insists on reminding us that he is only acceptable because he's not a radical Marxist like Obama...and he has a VP that I'd rather have at the top of the ticket.

Next Up: Big 3 Bailout

Just as the government is saying they have to do it because it's a once-in-a-lifetime systemic financial crisis, here comes the government with a $25 billion auto industry bailout. McCain's worry about pork barrel spending? Obama's worry about the deficit (which is laughable anyway, with his spending ideas)? No worries, $25 billion seems to be the cost of pandering to win a state these days.

Disgusting. The die has been cast and the moral hazard is not good.

Monday, September 22, 2008

Obama: $50B to UN for Anti-Poverty Program

Obama apparently believes that the best way out of our profligate spending is to give $50 billion to the corrupt UN on an anti-poverty program that will likely end up in the hands of third-world dictators.

That should help reduce the deficit he claims to be concerned about.

Bailout Bill Quickly Becoming a Disaster

It seems that the plan to buy up distressed assets is turning into a proposed bill that 1) significantly increases government regulations and oversight, 2) limits executive pay, 3) gives the government an equity stake in dozens (or more) of financial services companies, 4) allows low-income consumers who couldn't afford to continue to pay off their mortgage to continue to live there and 5) many other pork-barrel items.

If you are thinking of buying a multi-million dollar home you can't afford, now is the time to do it. Path to socialism, this way...

Dems Try to Force "No Drilling" Measure

If Congress does nothing, the moratorium on offshore oil drilling will expire September 30. To prevent that from happening, Pelosi & Co. are attaching a "no drilling" bill to a funding bill that allows the government to continue to operate (since Congress has yet to pass a budget). From Human Events.

I just hope Bush isn't held hostage and vetoes the bill. Otherwise, it might be time to start buying oil futures again.

Sunday, September 21, 2008

Albright/Powell: Agree With Palin on Russia & NATO

When Sarah Palin said to Charlie Gibson that NATO membership for Ukraine and/or Georgia would require other NATO nations to come to their aid in an event of a Russian attack, Gibson and other media talking heads declared that Palin was a hawk who was suggesting war with Russia.

It seems that Colin Powell and Madeleine Albright said the same thing - what warmongers.

Friday, September 19, 2008

SEC Bans Short Selling in Financial Stocks

The SEC made the dramatic step of banning short-selling in 799 financial stocks. I don't know if this dramatic step was needed or not, but if you are currently short, you are in big, big trouble today. I don't think anyone will be crying for the shorts though, after their ability to successfully destroy several large firms. Here is the Schindler's list of the 799 stocks. (Someone screwed up in coming up with that list because they included some but excluded others, but that's another story.)

Thursday, September 18, 2008

Blue States Contributing to Market Woes?

Several of the largest state pension funds (most of which happen to be liberal states), including New York, New Jersey and California, have helped contribute to the recent market malaise. By lending out their shares of certain financial stocks to short sellers (they get a profit for lending them out), pension funds have been allowing short-sellers to attack certain financial stocks, including Lehman Brothers, AIG, Merrill Lynch, Morgan Stanley and Goldman Sachs. The states have decided to put a moratorium in place to disallow lending the shares.

Palin Hacker is TN Democrat State Rep's Son

It doesn't come as a surprise to me that the hacker who stole Sarah Palin's online information is the son of a Tennessee Democrat state representative. From Gateway Pundit.

This reminds me of the 2004 election, when U.S. Rep. Gwen Moore's (D-WI) son and several of his comrades slashed the tires of Republican vans in Wisconsin on election day so they couldn't drive people to the polls. Moore's son ended up spending time in jail for the felony. It's the Democrat organizer style.

Democrats Are "The Conscience of Fannie Mae"

Upon his swearing in as CEO of Fannie Mae, Daniel Mudd spoke to the Congressional Black Caucus. From Newsbusters:

It is true that Fannie Mae has lent more money to more minorities and more underserved individuals than any single company in history.

We will work hard inside our company to resolve the serious matters before us to put our house in order and to forge a new future. And all the while you will see Fannie Mae reaching out and listening to the caucus. Over a century of endeavor you have earned the reputation as the conscience of Congress. In many ways I want to tell you today you are also the conscience of Fannie Mae. Keeping us on course to serve those who need serving the most.

This pandering is precisely why I oppose the government running private companies and also a reason why we're in this financial mess. Fannie Mae was not in business to "serve those who need serving the most." It was not created to selectively choose which part of the population it lends to and it was not supposed to be a government welfare program. And this is why we should hold public investigative hearings that include current and former management teams. (Should be easy to round them up - just go to Obama's campaign headquarters.)

Obama Openly Encouraging "Get in their Face"

From Drudge. Obama is using his "Chicago-way" style politics again. He told his supporters yesterday,

"I need you to go out and talk to your friends and talk to your neighbors. I want you to talk to them whether they are independent or whether they are Republican. I want you to argue with them and get in their face."

Spoken like a true community organizer.

Prof. Obama's Exam Questions

Sweetness & Light has been studying Obama's exam questions when he was a law professor at U of Chicago. Needless to say, the majority are about race and gender. This shouldn't be shocking, but it doesn't represent his own facade of the post-racial candidate.

Wednesday, September 17, 2008

The Chicago Way: Destroy Your Opponent

The Chicago way is to destroy your opponent so that you never have to fight. He did it successfully in 2004 when Sen. Ryan's divorce papers were leaked to the public. And now I have no doubt that Obama supporters, in an effort to dig up some real dirt on Sarah Palin, hacked her personal email address and made them and her contacts public.

It doesn't get much slimier than that, but it is the Chicago way.

Top "Troopergate" Investigator a Phony Soldier

Democrat French Hollings, a state senator from Alaska is a staunch Obama supporter and one of the "investigators" into the Troopergate non-scandal. According to his resume, Hollings also served in the Marine Corps. Alas, it was a lie. Though it might be an embarrassment to some, French will probably wear the lie like a badge of honor.

Democrats Force Iraq-China Oil Deal

After all the work the U.S. has done for Iraq, China will now be pumping Iraqi oil, thanks to Democrat Senators Kerry, Schumer and McCaskill. According to Fred Kagan, who attended a House Budget Committee meeting on the Iraq situation:

One question came up repeatedly in the hearing that deserves more of an answer than it got, however: Why, after all the assistance we've given to Iraq over the past five years, was the first major Iraqi oil deal signed with China and not with an American or even a western company? The answer is, in part, because three Democratic senators intervened in Iraqi domestic politics earlier this year to prevent Iraq from signing short-term agreements with Exxon Mobil, Shell, Total, Chevron, and BP.

The Iraqi government was poised to sign no-bid contracts with those firms this summer to help make immediate and needed improvements in Iraq's oil infrastructure. The result would have been significant foreign investment in Iraq, an expansion of Iraqi government revenues, and an increase in the global supply of oil. One would have thought that leading Democratic senators who claim to be interested in finding other sources of funding to replace American dollars in Iraq, in helping Iraq spend its own money on its own people, and in lowering the price of gasoline for American citizens, would have been all for it. Instead, Senators Chuck Schumer, John Kerry, and Claire McCaskill wrote a letter to Secretary of State Rice asking her "to persuade the GOI [Government of Iraq] to refrain from signing contracts with multinational oil companies until a hydrocarbon law is in effect in Iraq." The Bush administration wisely refused to do so, but the resulting media hooraw in Iraq led to the cancellation of the contracts, and helps to explain why Iraq is doing oil deals instead with China.

So now the evil American oil companies will not be making money - it will be the pure Chicoms instead.

Government Irresponsibility

There has been a lot of talk about the government becoming "irresponsible" with its investment in AIG. I just wonder when the government was ever responsible. I have a lot more faith in the AIG investment than I do in the Social Security and Medicare black holes. Now those programs are truly irresponsible and will cost 10x more than all the financial institution bailouts in U.S. history.

Russian Market Crash Continues

A day after Russia's stock market was forced closed after a 17% drop, the market dropped another 10% and was forced to close again.

I wonder if Russia feels as invincible as it did a few weeks ago during its Georgian invasion, when oil prices were sky high and its stock market was about 60% higher.

Democrats Still Don't Want Drilling

As Rep. John Shadegg (R-AZ) notes in the WSJ this morning, the House Democrat drilling bill is a sham. They still have no interest in increasing drilling. Even if the bill were to pass, bogus environmental lawsuits would prevent any additional drilling. Unfortunately, there are no limits whatsoever against such litigation.

In February 2008, the administration issued 487 leases in Alaska's Chukchi Sea, which holds an estimated 15 billion barrels of oil and 76 trillion cubic feet of natural gas. The Sierra Club, the Center for Biological Diversity, and other groups used the National Environmental Policy Act and the Endangered Species Act to challenge and delay progress on all 487 leases. In a separate lawsuit, they challenged the entire national outer continental shelf (OCS) leasing program, seeking to block all future leases.

Even if a lease makes it through these challenges, it isn't clear sailing. Right now, there are 748 leases in the Chukchi and Beaufort Seas. Exploration activities in every single one were challenged in May of this year by EarthJustice in conjunction with others.

The Alaskan OCS contains 26 billion barrels of oil and 132 trillion cubic feet of natural gas. Not one offshore lease has escaped litigation.

It's no wonder that Pelosi doesn't care even if a watered-down drilling bill were to pass.

Tuesday, September 16, 2008

Feds Take Equity Control of AIG

In an interesting twist, the Federal government has apparently decided to provide an $85 billion loan to AIG and in return, receive an 80% interest in the equity of the firm. While some may describe this as a "bailout," I think it's a pretty smart move to help stabilize the global financial system and should be a very good investment as well.

AIG has $1 trillion in assets, so the loan from the Feds should be virtually risk-free and paid off in a relatively short period of time. Further, the 80% investment could easily be worth $50 to $100 billion over the same time period. The tricky question is how long the federal government is willing to hold its investment, since it is certainly not in the policy interest of Americans for the government to be controlling large private institutions. (I certainly don't want the government to own the equity of the auto companies, as political interests will inevitably work their way into the companies. Think Fannie Mae.)

But in this instance given the expected repercussions of an AIG failure, I think it is a very good solution and should make money for taxpayers. And because it results in significant dilution to existing shareholders, I don't think it sets up as much a moral hazard as one might expect. I just don't want to see this strategy repeated often.

As more details come out, it is clear that this is even a better deal than suspected. The Fed interest rate (Libor+850) is unheard of for a government loan, which will net approximately $10B/year in interest payments and should incentivize AIG to repay it quickly. I estimate that the government will end up profiting at least $75B+ from this deal.

Dems Prove Again That Paygo is a Joke

The Senate is close to a nearly $100B deal that would fix the AMT, provide alternative fuel tax credits and give money to the Midwestern states that suffered floods this summer.

Of course, none of it is "paid for," which shows us again (after that $150B "stimulus package") that the Democrat idea of "Pay as you go" is simply an excuse to oppose Bush's tax cuts and nothing more. Don't get me wrong - the AMT fix is a very good thing. But since they have been in charge of Congress, Democrats have shown less fiscal discipline than the GOP of the previous four years.

Mr. Teleprompter Strikes Again

Obama has finally figured out the secret to prevent gaffes, like knowing the 57 states, or pumping up our tires as his energy policy, or talking about his muslim faith. It's not in actually formulating a policy himself, it's to use the teleprompter ALL THE TIME. Yes, he's such a natural, isn't he?

Obama & Media Cheer for Downturn

The msm which is joined at the hip with obama's campaign, is now saying that obama has been cheering for financial disasters, as that may help him win.

Didn't he do that with Iraq too?

Russian Market Falling Faster than Obama's Poll Numbers

The U.S. markets have problems, but things could be worse. Russia's market was forced to halt trading after falling 17% today. The market is down approximately 60% since May.

I guess the combination of a dictatorial regime and falling oil prices are not attractive to investors. I believe that Putin overreached with his Georgia gamble and now Russia is headed for more trouble. Rubles, anyone?

Obama Secretly Urged Postponed Deal in Iraq

According to Iraq's Foreign Minister Hoshyar Zebari, Barack Obama on his visit to Iraq secretly urged him to postpone any deal to withdraw U.S. troops until after the November election.

Apart from overtly playing with Iraq's future to gain a political advantage, isn't anyone bothered that Obama is trying to institute his own foreign policy? I suppose that after Nancy Pelosi's efforts to pursue her own Syrian policy, no one even bats an eye anymore, but there was a time when this would have produced outrage.

Obama Trying to Quiet Radio Station...Again

For the second time in two weeks, the Obama campaign is trying to intimidate Chicago-based radio station WGN for having conservative columnist Stanley Kurtz appear on the program to discuss Obama's past association with William Ayers.

"The author of the latest anti-Barack hit book is appearing on WGN Radio in the Chicagoland market tonight, and your help is urgently needed to make sure his baseless lies don't gain credibility," an e-mail sent Monday evening to Obama supporters reads.

"David Freddoso has made a career off dishonest, extreme hate mongering," the message said. "And WGN apparently thinks this card-carrying member of the right-wing smear machine needs a bigger platform for his lies and smears about Barack Obama -- on the public airwaves."

Once again, the supposed party of free speech wants anything but...

Monday, September 15, 2008


Look at the good news. There's only one thing tanking as fast as the financial markets these days - Obama's poll numbers.

SEC Plans Permanent Naked Short Selling Measures

A day late, the SEC appears close to measures that will permanently prohibit certain naked short selling. Frankly, I'm not sure where the SEC has been on this issue. It's no coincidence that the previous bottom in the financial market was the week of July 12 when the SEC instituted a temporary, 30-day ban on naked short selling of 20 large financial firms. It's also not a coincidence that the market has been spooked since the week of Aug. 12 when the temporary ban expired.

Chairman Chris Cox was a good congressman, but unfortunately he seems way over his head in leading the SEC.

Where's the Outrage at Fannie Mae Execs?

When Enron went under, people wanted Ken Lay hung from the nearest tree. Same thing with Bernie Ebbers and Richard Scrushy.

Today's collapse of Lehman and Merrill derive from one primary problem - the riskiness of mortgages - backed up by Fannie Mae and Freddie Mac. For years, the management of these companies were fraudulent, incompetent, overpaid, in denial,....and largely well-connected Democratic politicians. And for that reason, there is no pressure to indict Jim Johnson, Franklin Raines or Jamie Gorelick. If you think this is an exaggerated claim, ask yourself whether the reaction would be similar if, say, Karl Rove were CEO of Fannie Mae.

If anyone suggests that the current problem stems from a lack of regulation, just keep in mind that it is precisely because of "regulated" entities in Fannie Mae and Freddie Mac that catalyzed this gigantic meltdown. And because of their political influence, these entities were allowed to guarantee mortgage loans that never should have been granted in the first place.

Obama's ACORN Friends Busted for Fraud Again

From Gateway Pundit. Obama's ACORN friends have recently registered 200,000 people in Detroit. Unfortunately, a large percentage of the applications are duplicates or altogether fraudulent. Ah, those community organizers....

Black Monday

Ugly day on Wall Street today. And a chance for Obama to explain why it's all the fault of the GOP. His cure? Double everyone's taxes so we can have more community organizers agitating for change - that should solve it.

Saturday, September 13, 2008

Why McCain Can't Email

Someone in the Obama campaign needs to get a clue. Obama spokesman Dan Pfeiffer said the following (From NR):

"It's extraordinary that someone who wants to be our president and our commander in chief doesn't know how to send an e-mail."

What the Obama campaign doesn't say is why McCain can't use email. From the Boston Globe 8 years ago:

McCain gets emotional at the mention of military families needing food stamps or veterans lacking health care. The outrage comes from inside: McCain's severe war injuries prevent him from combing his hair, typing on a keyboard, or tying his shoes. Friends marvel at McCain's encyclopedic knowledge of sports. He's an avid fan - Ted Williams is his hero - but he can't raise his arm above his shoulder to throw a baseball.

Maybe the Obama campaign will start to make fun of him for not throwing a baseball very far too. In any case, I don't think this argument will help Obama.

Friday, September 12, 2008

Charlie Gibson Wrong on Bush Doctrine

In an interview with Sarah Palin, ABC's Charlie Gibson played "gotcha" with Sarah Palin on the Bush Doctrine. Unfortunately he (along with the NY Times) got it wrong. As Charles Krauthammer points out, he was the one who first used the phrase and it has had several distinct and different meanings since it was first used.

But frankly, Gibson should have known better from his previous definitions of it (from Weekly Standard, which also points out several other people's usage of the term):

September 21, 2001
CHARLIE GIBSON: The president in his speech last night, very forceful. Four out of five Americans watched it. Everybody gathered around the television set last night. The president issued a series of demands to the Taliban, already rejected. We'll get to that in a moment. He also outlined what is being called the Bush Doctrine, a promise that all terrorists organizations with global reach will be found, stopped and defeated.

September 21, 2001
CHARLIE GIBSON: Senator Daschle, let me start with you. People were looking for a Bush Doctrine. They may have found it when he said the war on terror will not end until every terrorist group of global reach has been found, stopped or defeated. That's pretty broad. Broader than you expected?

The whole point is silly anyway. I'm pretty sure that one-term Sen. John Edwards' first interview as VP candidate was not a grilling on his knowledge of foreign policy. It consisted of a handful of softball questions.

Obama Will "Make Government Cool Again"

The problem, according to Obama, is that government isn't cool enough. If elected, Obama's goal is to "make government cool again."

Hmmm....don't think that's the biggest problem.

Why It's Bad for Government to Own Mortgages

Four Democrat senators prove why it's a terrible idea for the government to be in charge of half of the mortgages in the U.S. The senators want the government to "temporarily" stop the foreclosure process altogether. How that is supposed to help anyone is beyond me. And it creates a terrible moral hazard as well as conflict of interest. (How about just stopping foreclosures in, say, Texas? Or for that matter, why not just forgive the loans entirely and let the rest of the taxpayers pay for it?)

Ground Zero Etiquette - Obama v. McCain

Michelle Malkin explains the differences in etiquette between Obama and McCain at a hallowed site. It's very telling - and another simple reason that Obama has no clue on presidential decorum.

Thursday, September 11, 2008

Canadian Doctor Upset Palin Might Reduce Abortions

Andre Lalonde, a leading Canadian doctor, is upset that Sarah Palin would be damaging to the abortion cause and might reduce the number of Canadian abortions.

According to the paper, Lalonde said that, "above all else, women must be free to choose" and that positive messages like the one from Palin "could have detrimental effects on women and their families."

The Mythical FDIC Fund

Just like most government funds (ie. Social Security), the FDIC "fund," which has charged banks billions of dollars in premiums over the past decade to insure against a possible downturn, is not a fund at all. As explained by former FDIC chairman William Isaac, the FDIC gives its reserve fund to the Treasury each year, which is then used for general government funds.

What this means is that the FDIC holds only an IOU from the government - and therefore taxes ( and/or premiums charged to banks) need to be raised dramatically in order to cover the actual funds that need to be paid to insured depositors.

Russian Bombers Land in Venezuela

Russian bombers landed in Venezuela to carry out joint exercises with its dictator-friendly comrades.

Just a reminder of who I would rather have in the White House to deal with the situation - especially since the Congress is generally opposed to even the slightest projection of military power.

Wednesday, September 10, 2008

Pelosi Wants Big 3 Bailout

Nancy Pelosi is now seeking a $50 billion bailout of the Big 3 U.S. automakers. Unbelievable. Why don't we just let government socialize our entire economy!?

Obama and Fannie Mae

What exactly are Obama's ties to Fannie Mae, the biggest financial disaster over the past 50 years? Well, Obama is the third top recipient of contributions from Fannie Mae, but one fact is interesting. The list is compiled since 1989, while Obama has only been in office since 2005. I have to believe that Barack Obama is the biggest recipient of campaign contributions from Fannie Mae since 2005. Anyone else outraged?

But the connection doesn't quite end there. Jim Johnson, former CEO of Fannie Mae, was so close to Obama that he was selected as his advisor to vet VP candidates. Later, he was fired as it's been speculated that Johnson had received favorable loans from countrywide.

Incidentally, Obama himself is no stranger to receiving favorable, below market rate loans, having received a loan of 5.6% when the prevailing market rate was 5.9% (according to the Washington Post).

Anyway, is it possible that Obama's monster donations from Fannie have anything to do with the fact that he wants them to remain quasi-government organizations? That sounds like status quo to me. Who is it that is campaigning on change anyway?

The Enron scandal was small beans compared to Fannie Mae and got a lot of scrutiny from Congress and the media. People went to jail. Let's see if people go to jail for this fraud.

Where's the outrage at Fannie's fraud? If this were run by former Republicans, you better believe there would be investigations all around.

Congress's Spending Explosion

As the WSJ points out (sub'n may be required), the expected $407 billion deficit this year will be a Democrat headline in the coming weeks, but a few things to keep in mind:

-The deficit is about 3% of GDP, which is the average deficit over the past 30 years.
- $150 billion of the deficit is due to the Democrat-led "stimulus plan" that did nothing to stimulate the economy.
- Most importantly, the level of spending has skyrocketed, particularly in the last 2 years with the Democrats in charge of Congress.

The real runaway train is what CBO calls a "substantial increase in spending" that is "on an unsustainable path." That's for sure. The nearby chart shows how much some federal accounts have expanded since 2001, and in inflation-adjusted dollars. This year alone, federal agencies have lifted their spending by 8.1%, with another 7% raise expected for 2009. There's certainly no recession in Washington. The CBO says that, merely in the two years that Democrats have run Congress, federal expenditures are up $429 billion -- to $3.158 trillion [ 15.7% in 2 years].

The fiscal blowouts have included a record farm bill, notwithstanding record farm income; an aid bill for distressed homeowners, extended unemployment benefits, and more generous veterans benefits. Next up: votes on $50 billion for Detroit auto firms, an $80 billion energy bill, as much as $50 billion for spending masked as a "second stimulus," plus $100 billion or more for the Fannie and Freddie rescue. Rather than sort through priorities, Congress is spending more on just about everything.

Meanwhile, remember that "pay as you go" spending promise that Speaker Nancy Pelosi made in 2006? We called it a ruse at the time, and the last two years have proved it. Senator Judd Gregg (R., N.H.) has tallied up at least $398 billion in "paygo" violations so far. Earmarks were also supposed to be cut in half by this Congress. In 2008 there were some 11,000 at a cost of $17 billion, the second most ever, and far more than half the peak of 14,000 in 2006.

Tuesday, September 09, 2008

Obama: "Lipstick on a Pig"

Obama on the trail: "Lipstick on a pig" is still a pig. Regardless of his intent, it sounds like a pretty classless dig at Sarah Palin. Obama is lost without a teleprompter.

Gordon Brown Supporting Obama?

Not that it should be surprising, but for British PM to be so supportive of Obama without saying a word about McCain, is pretty poor diplomacy. Someone with any knowledge of politics might want to fill in the PM that 1) his support won't help Obama and 2) his support could cost him if and when McCain wins.

Climate Experts: Global Warming is Over

Some climate experts now claim that the brief warming period that has taken place over the last 30 years is now over and we are re-entering a global cooling phase. The Farmer's Almanac is also predicting a "catastrophic" winter because of the expected cold winter this year.

I'm sure the Al Gore crowd will blame humans for the cooling as well, but this new data should help quell some of the exaggerated global warming claims.

Monday, September 08, 2008

Obama Admits Raising Taxes Hurts Economy

Obama admitted that raising taxes (or rescinding tax cuts) during a recession would hurt the economy and he would review the decision and the economy if he were to become President.

Good to know that he now agrees that tax increases are bad for the economy, but I still don't believe him when he says he "might not" raise them even if we are in recession. (Plus, by then he will have concluded that we are not, and never were, in a recession and will start raising them.)

The Gang of 14 Accomplished Nothing

We heard that the Gang of 14 was a bipartisan group that would help change the way judges were moved through the Senate. Unfortunately, as the WSJ points out (sub'n may be required), the prospect for new judge confirmations has never been worse.

Since the beginning of the year, the Senate has confirmed a total of four nominees to the federal circuit courts -- including Democrat Helene White, whose appointment to the Sixth Circuit Court of Appeals was part of a compromise with Bush nominee Raymond Kethledge. The confirmation of Judge Steven Agee on the Fourth Circuit was likewise the product of a deal between Virginia Senators Jim Webb and John Warner, displacing the nomination of highly respected nominee Duncan Getchell, who withdrew in frustration at the interminable wait.

According to the Committee for Justice, the average number of days from nomination to confirmation for circuit court nominees has risen to 348 days during the Bush Administration from an average of 238 days under President Clinton. Nominations by Jimmy Carter and Ronald Reagan made it through in an average of 69 days each.

And of course, Harry Reid told the ridiculous lie in June when he said Senate Democrats would "treat President Bush's judicial nominees with more respect than President Clinton's received from a Republican Senate."

But no one wants to hold the Democrat-led Senate responsible for anything.

Saturday, September 06, 2008

Obama Obsessed with Playing the Victim Card

Barack Obama is up to his old tricks again. Seems like the man who is supposed to unite the world keeps telling everyone how different he is. Hey everyone, woe is him!! Deep down, Barack thinks that democrats are stupid. It's true. Otherwise, why would he keep warning them what Republicans might one day say. Barack, campaigning again today, in his infinite intelligence, talked DOWN TO HIS BASE once again, reminding them that he's different, he's got a funny name, little experience, and that HE'S NOT, DEFINITELY NOT MUSLIM!!!!

Thanks B.O. He knows that if he doesn't bring this up, then he can't play the victim card, like he's been doing his entire life. Trouble is, the victim card is the only thing he's got goin.

Will someone please shed a few tears for the guy? He's got it tough!

The Obamas and Public Allies

In 1992 Barack Obama was a founding member of the Board of Public Allies, just before Michelle Obama became executive director in 1993. The Obamas call the program "Universal Voluntary Public Service." Public Allies is a radical group of "community organizers" (read: agitators ala Al Sharpton, Jesse Jackson) whose goal it is to convince people, particularly in inner cities, that they are victims of a greedy ignorant government.

Today Public Allies is partly funded by Bill Clinton's Americorps; the Obamas want the program to be fully funded and expanded exponentially across America. From Investors Business Daily:

The pitch Public Allies makes on its Web site doesn't seem all that radical. It promises to place young adults (18-30) in paid one-year "community leadership" positions with nonprofit or government agencies. They'll also be required to attend weekly training workshops and three retreats.

But its real mission is to radicalize American youth and use them to bring about "social change" through threats, pressure, tension and confrontation — the tactics used by the father of community organizing, Saul "The Red" Alinsky.

Why does no one really understand what Obama's community organizing" was all about? Because the media knows where it will lead: to Saul Alinsky, a radical socialist whose views revolved around creating conflict and agitation, particularly among inner city blacks. Not exactly the post racial ideas Obama pretends he represents. Alinksy's theme in his book, Rules for Radicals, also helps explain a lot of Barack's, Michelle's and Jeremiah Wrights frequent anti-American comments:

They [Americans] must feel so frustrated, so defeated, so lost, so futureless in the prevailing system that they are willing to let go of the past and change the future. This acceptance is the reformation essential to any revolution.

To be a successful organizer, one must first convince the masses that America is a "downright mean country" that doesn't care about them.

Friday, September 05, 2008

Wilsons Insult Cancer Patient Novak

Bob Novak penned this article describing his cancer, the diagnosis, and the outpouring of support from people like Vicki Kennedy and Al Hunt. But this was the reaction from Valerie Plame and Joe Wilson.

"We have long argued that responsible adults should take Novak's typewriter away. The time has arrived for them to also take away the keys to his Corvette."

I would expect nothing less from a classless couple. Incidentally, Novak sold his beloved Corvette, so they have gotten half of their vindictive wish.

Oprah Afraid of Us Treatment?

It appears that Us magazine is facing thousands of subscription cancellations over the Gov. Palin hit job, which hasn't even been mailed to its subscribers yet.

Oprah is probably thinking long and hard about her adamant refusal to have Palin on her show now.

Oprah says NO.

Fox News Dominates

Roger Ailes was definitely onto something when he decided to go after that 50% niche that was underserved. Fox beat out every other cable news and broadcast network in ratings for the GOP convention. It drew 9.2 million viewers on Wednesday, vs. 7.7 million for NBC.

If Dems choose to continue to boycott FoxNews appearances, I say let them.

Time to Pull Out of Chicago?

According to CBS News, in Chicago:

An estimated 123 people were shot and killed over the summer. That's nearly double the number of soldiers killed in Iraq over the same time period.

As we all know from listening to Obama speak, Chicago is Obama country. Maybe it's time for Obama to call for a pull-out. I'm sure the media will be reporting the monthly death tolls as vigorously as they've done in Iraq.

McCain Speech: Yawn

Last night was the least exciting night of the convention. After hearing Romney, Giuliani, Huckabee and Palin on Wednesday, folks got treated to Lindsey Graham, Tom Ridge and John McCain last night (all uneventful). I also don't think McCain won over voters when he said that daughters of migrant workers (read: illegal immigrants) are as American as anyone. Apart from being factually incorrect, since they only become citizens if they were born in the U.S. (and even that is constitutionally suspect), I don't think he wins voters reminding people that he is in favor of full amnesty like Ted Kennedy.

And of course, Left Wing protesters tried to disrupt the speech a few times. As usual, their desire for freedom of speech is overrun by their desire to shut down all opposition viewpoints.

Thursday, September 04, 2008

Intrade: US Recession Unlikely in '08

Intrade allows people to put their money where there mouths are regarding politics, world events and other items. A contract that pays off $1 if the U.S. enters a recession in 2008 and which traded above 70 cents earlier in the year, closed yesterday at 5.5 cents.

Bush's Africa Legacy

Andrew Natsios, a Georgetown University professor and former director of USAID, writes about the Bush legacy in Africa. With Bush's approval ratings in the 80% range and Sudanese boys being named George Bush, I think it's fair to say that Bush's overlooked efforts in Africa have been wildly successful to the populations there.

While Bush's critics have given him little credit for his African initiatives, they will be among his most enduring legacies in a region of the world neglected by policymakers from both parties for too long. Africans will long remember what Bush' critics have ignored.

Yet another example of improved American relations abroad.

Obama Camp: She Didn't Write the Speech

The Obama camp tried to deflate the speech by saying that it was written by George Bush's speechwriter. I heard this from other media Leftists last night if no politician uses speechwriters and she should have written the whole thing herself. I never once heard that Obama is not a good orator because he doesn't write the speeches himself.

They are claiming she is "divisive," which means she doesn't bow at the altar of Obama. Funny, when Dems rip Bush, that's not divisive, but if they get ripped, it is.

According to Red State, Palin's teleprompter malfunctioned during her speech, so she was forced to wing it half way through. If it's true, it was even more impressive.

Wednesday, September 03, 2008

Palin Speech Review

One word: Awesome.

She will not play the victim - she is the attacker. They even loved her in the UK.

Peggy Noonan: "Palin Pick Political Bulls***"

Peggy Noonan was discussing the Palin pick with NBC analyst Chuck Todd, thinking that the microphones were turned off. Noonan said that the pick was "political bulls*** about narratives." From Politico.

I have lost a lot of respect for Noonan over the past year or two. Since she started appearing on NBC, including Hardball and the Chris Matthews Show, she has gone noticeably to the Left. Perhaps Noonan enjoys the cocktail parties in Georgetown, perhaps she's jealous that she is not getting the attention she thinks she deserves, or maybe she's simply turning more Liberal. But in any event, I grew tired of her Republican and Bush-bashing about a year ago when she was trashing the Iraq War. The sad thing is she just wrote that the Palin pick was a wonderful thing - which means Noonan doesn't have the courage to write or state what she really believes.

Winning in Iraq

While the media focuses on smearing Gov. Palin, I have to do their work for them. After handing over Anbar to the Iraqis, Gen. Petraeus now says that if conditions continue to improve in Baghdad, we might have our combat forces out by next summer. From FT.

“The number of attacks in Baghdad lately has been, gosh, I think it’s probably less than five [a day] on average, and that’s a city of seven million people,” said Gen Petraeus.

While declining to comment on the details of the security agreement, Gen Petraeus said US combat forces had already pulled back from cities in 13 of Iraq’s 18 provinces. The sight of US soldiers exiting Baghdad would be highly symbolic given the scale of violence that gripped the city in 2006 and 2007.

Hello?!? Isn't this exactly what the Left has been screaming for since the war started? And now that it's happening, accompanied with a victory, they couldn't care less.

Gingrich Slams MSNBC's Ron Allen

This is why the media don't like interviewing Newt Gingrich. Ron Allen said to Gingrich about Sarah Palin,

"But to be fair, her resume is not something we're familiar seeing with presidential candidates."

To which Gingrich responded:

"It's stronger than Barack Obama's. I don't know why you guys walk around saying this baloney. She has a stronger resume than Obama. She's been a real mayor, he hasn't. She has been a real governor, he hasn't. She's been in charge of the Alaskan National Guard, he hasn't. She was a whistleblower who defeated an incumbent mayor. He has never once shown that kind of courage. She's a whistleblower who turned in the chairman of her own party and got him fined $12,000. I've never seen Obama do one thing like that. She took on the incumbent governor of her own party and beat him, and then she beat a former Democratic governor in the general election. I don't know of a single thing Obama's done except talk and write. I'd like you to tell me one thing Sen. Obama's done."

Unable to defend his man, Allen ended the interview there.

US Mag: Not Exactly Fair and Balanced

Michelle Malkin has a post on the current issue of US magazine. Publisher Jann Wenner is apparently a big Obama donor and after reviewing the Obama cover in June and the Palin cover this week, it's not hard to see that.

Tuesday, September 02, 2008

Saudis for Obama

According to a Saudi newspaper, Obama has won the majority of support from Saudi citizens polled. The reasons given were his middle name "Hussein" and his stance on the Israel-Palestinian situation. Hmm. I don't think he'll highlight that endorsement too much.

Dems Release Palin's Social Security Number

The dirty tricks just keep coming. This time Dems released Sarah Palin's personal information, including her social security number and home addresses. They did this with former Senate candidate Michael Steel in order to check his credit file. From Red State.

Andrea Mitchell: Only Uneducated Voters Go for Palin

What media bias? Andrea Mitchell said that only uneducated Hillary supporters would consider voting for McCain/Palin.

It's no wonder the media love Obama - they all think the same way - they hate people clinging to guns and religion...

Sarah Palin = Clarence Thomas to Leftists

Rush Limbaugh had a good point. To most leftists, Sarah Palin is today's equivalent of Clarence Thomas. Just like Thomas, Palin is proving that women, like blacks, don't require any special treatment or affirmative action to succeed in this country. And that upsets the Leftist agenda, which is why the smears are coming out of the woodwork. (How about 3 separate front page stories in the NYTimes today about Palin's pregnant daughter?)

Liberals like to claim that a woman's womb should be private. What they have just proven is that they believe no such thing - it's simply a disguise to push their leftist agenda. And if they have to destroy Palin's 17 year-old daughter in an attempt to get to Palin, they will do so.

Campbell Brown of CNN said that if Sarah Palin didn't want her daughter's life to become center stage, she shouldn't have accepted the nomination. In other words, we're going to continue to smear her and it's your fault.

Obama Comparing Himself to Palin

You have to think it's not good when a presidential candidate like Obama has to defend himself by comparing his experience with that of McCain's VP candidate.

And the funny thing is, Obama makes the comparison by saying that his campaign staff and budget are larger than that of Gov. Palin's previous job as mayor of Wasilla (perhaps he realized that he loses the argument if he compares himself with her current job as governor). But frankly, by running against Palin, he already loses the argument.

Another Russia Critic Shot Dead by Police

The Russian police shot and killed Magomed Yevloyev, a high-profile critic of Russia and the Kremlin leaders. The explanation is that he was "accidentally shot in the head while resisting arrest."

Monday, September 01, 2008

Dutch "Call Off Operation" to Sabotage Iran's Nuclear Facilities

This is one of the funnier stories I've read in a while. According to the Dutch Intelligence Service , the AIVD, they had to call off an operation to infiltrate and sabotage Iran's nuclear facilities because of an impending attack from the U.S. Supposedly the Dutch operation had been "extremely successful" thus far.

Why do I have trouble believing this report?

Jon Voight on Barack Obama and Democrats

I just watched Neil Cavuto's interview with actor Jon Voight and father of actress Angelina Jolie. Voight, one of a handful of Hollywood Republicans attending the GOP convention, was impressive in talking about Obama, the Iraq War and Marxism. It contained certain thoughts from his instructive Washington Times editorial from a month ago.

The Democrats have targeted young people, knowing how easy it is to bring forth whatever is needed to program their minds. I know this process well. I was caught up in the hysteria during the Vietnam era, which was brought about through Marxist propaganda underlying the so-called peace movement. The radicals of that era were successful in giving the communists power to bring forth the killing fields and slaughter 2.5 million people in Cambodia and South Vietnam. Did they stop the war, or did they bring the war to those innocent people? In the end, they turned their backs on all the horror and suffering they helped create and walked away...

If Mr. Obama had his way, he would have pulled our troops from Iraq years ago and initiated an unprecedented bloodbath, turning over that country to the barbarianism of our enemies. With what he has openly stated about his plans for our military, and his lack of understanding about the true nature of our enemies, there's not a cell in my body that can accept the idea that Mr. Obama can keep us safe from the terrorists around the world, and from Iran, which is making great strides toward getting the atomic bomb...

This is a perilous time, and more than ever, the world needs a united and strong America. If, God forbid, we live to see Mr. Obama president, we will live through a socialist era that America has not seen before, and our country will be weakened in every way.

Two Views: Obama vs. Palin on Unexpected Births

The announcement that Bristol Palin is pregnant allows the American public to see the different philosophies of the Palin and Obama families. First the Palin family:

“We have been blessed with five wonderful children who we love with all our heart and mean everything to us. Our beautiful daughter Bristol came to us with news that as parents we knew would make her grow up faster than we had ever planned. We’re proud of Bristol’s decision to have her baby and even prouder to become grandparents. As Bristol faces the responsibilities of adulthood, she knows she has our unconditional love and support.

“Bristol and the young man she will marry are going to realize very quickly the difficulties of raising a child, which is why they will have the love and support of our entire family.

Next, Barack Obama's words from a few months ago:

“Look, I got two daughters — 9 years old and 6 years old,” he said. “I am going to teach them first about values and morals, but if they make a mistake, I don’t want them punished with a baby.

From Michelle Malkin.

Gustav Downgraded; RNC Cautious

Can you say "overhyped?" Gustav has been downgraded to a Category 1 storm, but the RNC already cancelled today's events at the Republican National Convention, including speeches by Bush and Cheney. I think Gustav was a convenient excuse for McCain to reduce media exposure that he is, in fact, a Republican.

This will mean fewer GOP speakers and less media attention, all because the Republicans are afraid of being branded as uncaring. The Democrats would never have done such a thing.