Site for Free Markets and Free People
Thursday, December 31, 2009
GMAC Gets More Money on Third Bailout
Wednesday, December 30, 2009
Daily Telegraph Gives Obama an F
What's interesting from the article is that this is the third Yemeni connection to a US terrorist attack this year. The first one killed a military recruiter in Arkansas, the second was the Fort Hood massacre, and now this one. Furthermore, two of the masterminds in Yemen of this attack were actually released from Guantanamo over a year ago. And now is Obama thinking about sending another 90 Gitmo detainees back to Yemen? Hmmm.
Read Obama's reportcard.
Governor Paterson's Entourage
Boy was I wrong - he has 200! This is more than the entire force of state troopers in Long Island!
What a waste of taxpayer money.
Tuesday, December 29, 2009
Obama: Tired and Exhausted After 1 Year
Dutch Hero Wants More Money
New Security Measures Are Absurd
Some airlines are prohibitting passengers from leaving their seats one hour before landing - just for this one hour time period. OK - I get it. This crazy nut case got out of his seat, went to the bathroom to plan everything, and then tried to detonate a bomb to blow up the plane about an hour before the landing. I suppose the presumption is that if he's not allowed out of his seat, during this one-hour period then this never could have happened.
How stuuuuuuuupid is that? I guess if he gotten our of his seat 2 hours prior then there would be a new restriction for staying in your seat for 2 hours, instead of one hour.
The other equally crazy restriction is that now passengers are not allowed to have anything on their laps during the final hour of flight. This especially includes pillows and blankets because that it was the terrorist used to shield his bomb. Nuts! Again, couldn't he have tried this half-way through the flight, and couldn't he have attempted to hide everything under a trench coat to get around this rule?
The problem with these new restrictions is that they assume the next guy will try something EXACTLY the same way as the last one. What if the next terrorist beats someone with his i-Pod? Will all I-pods be banned?
I know it sounds crazy, but I have a better solution: profile passengers. C'mon - we all know who we're looking for. Does anyone really believe that a 80 year old Japanese woman should be checked just as often as a 25 year old man from the middle east? An even more radical solution is if a father of a crazy nut son says his son is talking about blowing up American planes - then don't issue him a visa!
Saturday, December 26, 2009
Obama: Unlimited Assistance to Fannie, Freddie
What this means is that Fannie and Freddie have no requirement to either underwrite responsibly or operate efficiently. Obama officially calls the shots in the mortgage industry.
And of course, it was announced on Christmas Eve - the same day Washignton took over the healthcare industry. Hugo Chavez would be extremely proud.
Friday, December 25, 2009
Thursday, December 24, 2009
Too Many Lawyers in Congress Pass Healthcare Reform
This also answers the question as to why Obama will never pass tort reform.
Wednesday, December 23, 2009
A Christmas Ornament Only Obama Would Love
...Kind of like Obama had no idea Jeremiah Wright was spewing hate speech for the past 20 years.
Tuesday, December 22, 2009
Obamacare Rammed Through By Cowards
This health-care bill may well be historic, but not in the way the president thinks. I’m not sure we’ve ever seen anything quite like it: passage of a mammoth piece of legislation, hugely expensive and unpopular, on a strict party-line vote taken in a rush of panic because Democrats know that the more people see of ObamaCare, the less they like it.
The other interesting point is that Democrats have apparently attempted to make this legislation permanently binding, meaning that no Congress could ever repeal it. If this were constitutional, why wouldn't the majority make every law permanent and non-repealable? Sen. DeMint brought up this point.
One can argue that people had an unsustainably high rating of Obama a year ago, just based upon euphoria, and nothing else. One could also argue that today's extremely low opinion has come on the back of this week's pork-laden healthcare bill and that in months to come, people will slowly forget about this. But what I find remarkable is that 49% of the American people have changed their views dramatically about President Obama in one year's time. 49%!
And he hasn't even begun raising taxes yet! Yet is the operative word.
All the Oprah Specials in the world will not get himself out of this mess.
No Solar Panels in My Desert
But now environmentalists say they don't want to disturb the Mojave Desert's natural habitat and don't want solar panels there. Sen. Diane Feinstein is planning a bill to close the desert to any solar panels.
No windmills along the coast, no drilling where there's oil, and now no solar panels in the desert. Don't be surprised if Congress proposes we find a place for them up in Alaska.
Monday, December 21, 2009
Dem Senator: Majority of Americans Are Nazis
This is your Democrat party today.
Goldman Threatens to Move Employees to Spain
I hope Goldman does it - it will provide a valuable lesson to governments that there is always a tipping point when tax increases provide less revenue. I think we're going to be there in the U.S during Obama's term. If people don't leave the country, they will change compensation structures or simply quit working altogether.
Klobuchar Misses the Point Entirely
WALLACE: ... Senator, don't Democrats run a considerable political risk when you're going to pass major legislation with no bipartisan support over what seems to be almost a 2-1 opposition from the American people?
KLOBUCHAR: Do you know what the poll numbers were on Medicare when they voted for Medicare decades and decades ago? Like 28 percent of the people favored it. Now 96 percent do.
Umm, anyone see a problem with this? Senator Klobuchar is using Medicare as her shining example of a government-run program. Medicare is about to go bankrupt and everyone knows this. Maybe any program that has a 96% approval rating (if her number is correct) should be scrutinized for precisely that reason.
Saturday, December 19, 2009
Obamacare to Pass; Premiums to Skyrocket
Sadly, the American public no longer has a voice in how it lives (or dies) - the nation is governed by radical Leftist dictators.
Thursday, December 17, 2009
President Obama Clueless On Banking
President Obama’s ignorance of how banking works seems to be nearly encyclopedic. He accuses the banks he spoke with Monday of playing a big role in causing the credit crunch. For the most part, they did not. (The main culprits have all long since collapsed.) He says the big banks should be grateful for the “extraordinary assistance” they received from the government. But except for Citi, none of the big banks even wanted the money. He keeps pushing this misbegotten Consumer Financial Protection Agency. But the effect of the CFPA would be to constrict credit, not expand it. His understanding of reality seems to be upside down and backwards.
It’s also a jarring to hear the President talk about the “extraordinary commitment” he expects lenders to now make. The last time the government wanted that kind of concerted effort from the lending industry, things didn’t turn out so well. Then, the goal was the expansion of home ownership—everyone from President Bush to Barney Frank was all for it—and the key tool banks used to get there was an emphasis on subprime lending. I don’t need to remind you how that ended.
So first he's clueless on healthcare, and now financials too? Oh well - these two sectors only represent 35% of GDP.
Wednesday, December 16, 2009
Copenhagen Summit to Be Snowed In?
How ironic then, is it that this year's global warming meeting in Copenhagen will see some snow - one forecast is predicting heavy snow today!
But hey, this doesn't mean that warming isn't happening. We all know that next December it will be 80 degrees and sunny.
Definitely not all fun and games for the activists. Stories about them waiting in the freezing cold on Monday and Tuesday. Other stories today about snow and ice on the roads in Denmark.
Tuesday, December 15, 2009
Leftist Teacher Suspends Student For Crucifix Drawing
Christ was deemed offensive to the radical Leftist teacher.
Obamacare Closer to Passing; Drops "Medicare Buy-in"
But mark my words - when the House and Senate send a few members to reconcile the bills in committee, there will be government control of the health care sector when all is said and done. And of course, it will obliterate the federal budget and any facade of spending responsibility.
A V Shaped Recovery, But Government Slowed it Down
While the pessimists keep looking for things to worry about--seasonal adjustment factors, sales tax receipts--we are forecasting real GDP will grow in the 4% to 4.5% annual rate range at least through 2010. We also expect the unemployment rate to fall consistently in this next year as well. Unfortunately, government spending and stimulus is costing jobs and growth. The economy would be doing even better, and unemployment would be lower if government had stayed out of the way.
I guess that prognosis is good news, but I question the staying power of any recovery. Despite the fact that this recession was almost as bad as that which Reagan inherited, I don't think growth will get anywhere close to the average 5.3% growth we saw for the three years from 1983 to 1985. Tax rates are increasing, regulation is increasing, and the assault on capitalism is increasing. I hope our government gets a change of heart, but that's like Elin or Hillary hoping their husbands stop looking at other women.
Al Gore's Officially On the Clock
there is a 75 per cent chance that the entire north polar ice cap, during the summer months, could be completely ice-free within five to seven years.
First a 75% chance is pretty high. Second, if he's right, I think that means that ocean levels will rise, and most of mankind will be underwater by 2014-2016.
Just for the record, most climatologists don't agree with Gore's made-up figures. Seems climatologists are much more comfortable with predicting conditions on a 50 year basis. That way, if they're wrong, 50 years is a long time to forget. However, if people predict the end of the world in five years, they'll usually come out looking like idiots.
Let's see if he's right. He's on the clock.
Monday, December 14, 2009
Clinton: Iran Outreach Has Yielded "Very Little"
LATimes: On Second Thought, Better To Do Nothing on Healthcare
Sunday, December 13, 2009
Saturday, December 12, 2009
Clinton Judge: ACORN Has "Right" to Taxpayer Money
Yup, supposedly they have a constitutional right to taxpayer funds...
Friday, December 11, 2009
Baucus Gives Girlfriend $14,000 More of Taxpayer Money
If I recall correctly, Paul Wolfowitz was forced to resign even though he publicly recused himself from any salary decisions related to his girlfriend, which was out in the open.
Federal Gov't Workers Make 77% More Than Private Sector
And if you have had the opportunity to meet the number of incompetent individuals who work in the federal government, your head would spin. It has become a completely outrageous bloated welfare state.
Thursday, December 10, 2009
Canadian Paper Argues For One-Child Policy
None will work unless a China one-child policy is imposed. Unfortunately, there are powerful opponents. Leaders of the world's big fundamentalist religions preach in favor of procreation and fiercely oppose birth control. And most political leaders in emerging economies perpetuate a disastrous Catch-22: Many children (i. e. sons) stave off hardship in the absence of a social safety net or economic development, which, in turn, prevents protections or development.
Government Won't Allow Wells Fargo to Repay TARP
Wells came through the credit crunch as strongly as any large institution. Yet the company must feel as if it’s been singled out to appear in some banking-industry version of The Twilight Zone. Its nightmare began, recall, in October of last year when Dick Kovacevich was summoned to Washington (along with heads of nine other big banks) and told that Wells would take $25 billion in TARP money, whether it wanted it or not. Which, as Kovacevich pointed out at the time, it did not.
No matter! Down Wells’s throat the $25 billion went anyway.
Keep in mind that despite huge reserve building, Wells Fargo remains profitable. It's Tier 1 capital ratio is 10.6% (6.0% is considered "well capitalized") and its results have shown that the government's "stress tests" from last year are far off the mark.
Unfortunately for the U.S. economy, Wells Fargo is one of the largest and most successful lenders in the country (and one of the handful still financing new transactions). The government is actively preventingit from lending more.
Kentucky GOPer Higdon Wins in Overwhelmingly Dem District
The result: Higdon won by 12 points.
Wednesday, December 09, 2009
House Votes To Triple Taxes on Carried Interest
Not good for an industry that is already having major problems. But then again, Obama and Pelosi are not known for their business acumen.
Hillary Pollster Stimulated by $6 Million
What Obama Wants Taught in School
Tuesday, December 08, 2009
Shocker: Swine Flu Virus Actually Mild
Obamanomics: We Will "Spend Our Way Out"
It's all Bush's fault... I'm trying to restore fiscal responsibility... We must continue to "spend our way out of this recession." Oh, and just for good measure, I created 1.6 million jobs so far...
This is the type of illogical incoherence you might expect from a 6 year-old.
Moody's: U.S. Must Prove It Can Shrink Deficit to Keep AAA
Aren't Obama's promises enough for Moody's?
NFIB Index Down; Small Business "Scared to Death" of Obama
Interestingly, the head of the NFIB was on CNBC this morning and said that small businesses are "scared to death" of Obama's policies, including higher taxes and a health care takeover. Unsurprisingly, the NFIB was not invited to Obama's "jobs forum."
Africans Discriminate Against American Actress
I'm always surprised to hear about this sort of thing. Like when Dominic West, star of The Wire, said he didn't like foreigners playing Brits because "they are stealing our heroes." Or when you heard many Japanese complaining that a Chinese woman would play the role of a Geisha.
About the only place you don't see this kind of prejudice is the USA.
Monday, December 07, 2009
North Korea On Brink: Money Almost Worthless
But it will continue to rank highly on the Leftist scale of "equality."
EPA To Regulate Breathing, Says CO2 is Pollutant
The only logical step seems to be the banning of all exercise, which only makes people breathe more rapidly. We should really all just practice a very slow and steady breathing process all day long so as not to harm the environment.
By the way, is anyone else bothered by the fact that the EPA can do whatever it pleases in the name of the environment?
TARP Funds To Be Used For More Government Jobs
House Speaker Nancy Pelosi and other top Democrats have been drafting a jobs bill that would tap resources in the bailout program.
Among the proposals being considered are funding as much as $70 billion in new transportation and infrastructure projects, providing new tax credits aimed at encouraging small businesses to hire workers and providing additional aid to state governments to preserve public sector jobs…
Saturday, December 05, 2009
Britain Criticizes Obama Decision to Pull Troops Out in 2011
I don't think many countries in have faith in Obama, with the exception perhaps of Cuba, Venezuela, Iran, Russia, China and North Korea.
Tensions between Britain and America over the war in Afghanistan erupted into the open yesterday as the Defence Secretary questioned President Obama's decision to put a date on the start of US troop withdrawals.
In an interview with The Times, Bob Ainsworth said that the Government would not follow Washington's promise to start pulling out in 2011. "You can't put a time on it. You've got to look at conditions," he said. ...
Friday, December 04, 2009
Fort Hood Soldiers Taking Training Lessons From Islamic Radical Group
Prepare to be infuriated.
It's been brought to my attention by several reliable sources that the Defense Department has brought Louay Safi to Fort Hood as an instructor, and that he has been lecturing on Islam to our troops in Fort Hood who are about to deploy to Afghanistan. Safi is a top official of the Islamic Society of North America (ISNA), and served as research director at the International Institute of Islamic Thought (IIIT).
Read more from Andy McCarthy. Why don't we just bring in Mullah Omar to give the troops the Islamic sensitivity training they neeed?
Supreme Court May Provide Greatest Economic Stimulus Yet
At issue is whether the Public Company Accounting Oversight Board, or PCAOB, which supervises compliance with the law, violates the Constitution's separation of powers. Under the Appointments Clause, all "officers" of the United States must be appointed by the President and accountable to him—a condition PCAOB members do not meet.
The board's five members are instead hired by the commissioners of the Securities and Exchange Commission, who are appointed by the President. This arrangement passed muster in a 2-1 decision by the D.C. Circuit Court of Appeals, on the dubious grounds that the members were "inferior officers" and accountable to the President through the SEC. Never mind that they are not "directed and supervised" by the SEC, the traditional requirement for inferior officers.
The dissenter on the D.C. Circuit panel, Judge Brett Kavanaugh, called the case the most important separation of powers case in 20 years and said the appeals court had created a constitutional hash. Though the PCAOB "performs numerous regulatory and law enforcement functions at the core of the executive power," he wrote, for the first time in U.S. history we have "an independent agency whose heads are appointed by and removable only for cause by another independent agency."
If the Supreme Court were to overturn the act based on its unconstitutionality, this would dramatically reduce the regulatory burden on small public companies, thereby allowing resources to be redeployed in a more productive way. And without costing taxpayers a single dime, they could do more to create jobs in this country that the Democrats' trillion dollar stimulus bill.
Thursday, December 03, 2009
Is NASA Involved in Climategate Scandal?
One has to wonder whether NASA was involved in the massive fraud that has embroiled East Anglia and the global warming scientific community overall.
FHA Head: We're Not the Next "Subprime"
“Subprime delinquencies are 240 percent higher than FHA’s for a reason,” Donovan said. “While others participated in investor-owned markets or were exposed to exotic mortgages … FHA stuck to the basics during the housing boom: 30-year, fixed rate traditional loan products with standard underwriting requirements.”
Except, of course for that pesky 3.5% down payment minimum vs. traditional minimums of 20%. This, from an agency that holds a 0.53 reserve level, even though it is required by Congress to hold a level of 2% (which is still well below traditional banks). And why shouldn't we believe Mr. Donovan? Like 92% of all Obama appointees, Donovan spent his entire career in government, but he has a Harvard degree, so he is obviously knowledgeable about private markets...
Wednesday, December 02, 2009
Der Spiegel: Least Truthful Address Ever
U.S. Military as "Enemy Camp"
Obama and Second Grade Math
Call me crazy, but I've seen estimates that his healthcare bill would cost the US economy anywhere between $1 trillion and $3 trillion. Why not take 1% off the healthcare bill to pay for our security. Either that or he should have not spent his $800 Billion for the non-stimulus stimulus.
Obamacare's 'Opposite Land'
CBO found that premiums in the individual market will rise by 10% to 13% more than if Congress did nothing. Family policies under the status quo are projected to cost $13,100 on average, but under ObamaCare will jump to $15,200.
Finance Chairman Max Baucus chimed in from the Senate floor that "Health-care reform is fundamentally about lowering health-care costs. Lowering costs is what health-care reform is designed to do, lowering costs; and it will achieve this objective."
The GOP has a plan that actually does lower costs, but doesn't give the government total power:
Homer's Opposite Land is now a real place - it's where Obama, Pelosi, Reid and the Democrats live.
The political tragedy is that there are plenty of reform alternatives that really would reduce the cost of insurance. According to CBO, the relatively modest House GOP bill would actually reduce premiums by 5% to 8% in the individual market in 2016, and by 7% to 10% for small businesses. The GOP reforms would also do so without imposing huge new taxes.
Obama Declares One Year Plan in Afghanistan
What I don't understand is why he would tell the enemy about his super long-term plan of one year.
One proud marine father said it best:
If I were the enemy, I would hang back until 2011.
Of course. If you thought poorly of Obama and his handling of the economy, just wait til you see his military tactics...
Tuesday, December 01, 2009
The Mystery of Obama and Columbia University
[Welch] So tell us what we should know about Barack Obama that we don't?
[Root] I think the most dangerous thing you should know about Barack Obama is that I don't know a single person at Columbia that knows him, and they all know me. I don't have a classmate who ever knew Barack Obama at Columbia. Ever!
[Root] Nobody recalls him. I'm not exaggerating, I'm not kidding.
[Welch] Were you the exact same class?
[Root] Class of '83 political science, pre-law Columbia University. You don't get more exact than that. Never met him in my life, don't know anyone who ever met him. At the class reunion, our 20th reunion five years ago, 20th reunion, who was asked to be the speaker of the class? Me. No one ever heard of Barack! Who was he, and five years ago, nobody even knew who he was...I don't think anybody knew him. But I know that the guy who writes the class notes, who's kind of the, as we say in New York, the macha who knows everybody, has yet to find a person, a human who ever met him. Is that not strange? It's very strange.
Justoneminute speculates on Obama's whereabouts during this time. A very interesting read, which if you think about Obama's connections and his past, this sounds very very believable! Please give this other thread a read!
Former FDIC Chair: TARP Made Things Worse
GE's Immelt at State Dinner With Party Crashers
Keep in mind that GE owns Bravo and Bravo is getting ready to air Real Housewives of Washington, DC, in which the party crashers were going to star. Hmm...
Arlen Specter's Trial Lawyer Windfall Act of 2009
The reason has to do with the discovery process. Rightly used, discovery allows lawyers from both sides to gain access to evidence—documents, email, depositions, etc.—that support their case. In practice it can be abused, as when lawyers use discovery to go fishing for a case they don't have. And because compliance alone can be expensive and time-consuming, many companies find it cheaper to settle.
Greg Garre, a former solicitor general for the Bush administration who will testify at tomorrow's hearing, puts it this way: "If passed and signed into law, the bill would drive a truck through the Supreme Court ruling and dramatically lower the standards for pleading lawsuits."
Not only that, but as the WSJ argues, it makes it significantly easier for terrorists to charge, say the President or Attorney General to go on discovery expeditions. To Specter, this doesn't matter. He has already proven he will do anything humanly possible to win re-election.
Obama STILL Wants Marxist Returned to Power in Honduras
The senior diplomat said the United States wants to see Mr. Zelaya restored to office. But U.S. officials have previously acknowledged that the Honduran National Congress might not support his return.
Obama is definitely faithful to his socialist ideology. He will support Chavez, Castro, et. al to the end.