Thursday, April 30, 2009
Biden Does It Again
Arlen Specter, the Switcher

Arlen Specter
As Arlen has done throughout his career he has looked out for number one. Since polls clearly show him losing in primary to former Congressman Pat Toomey by 21 points. That was enough for Arlen to head across the isle and join the Democratic Party. The consequences of this move may very well have a long term impact on the country. Of course, with Senator Specter he never was a certain Republican vote. Chances are with the movement of Pennsylvania into the Democratic camp that he will win the 2010 senate seat that is up for grabs. Let's hope not, and work to prevent that from happening.
As Arlen has done throughout his career he has looked out for number one. Since polls clearly show him losing in primary to former Congressman Pat Toomey by 21 points. That was enough for Arlen to head across the isle and join the Democratic Party. The consequences of this move may very well have a long term impact on the country. Of course, with Senator Specter he never was a certain Republican vote. Chances are with the movement of Pennsylvania into the Democratic camp that he will win the 2010 senate seat that is up for grabs. Let's hope not, and work to prevent that from happening.
UPDATE: From the Washington Post, May 1, 2009
Dems should be open-eyed on Specter return
By David S. Broder
The Washington Post
WASHINGTON -- It's been more than four decades since Arlen Specter, the senator from Pennsylvania, earned the nickname "Specter the Defector." This week, he confirmed that it is indeed an accurate description of his political character.
I was a kid reporter for The New York Times back in 1965, when Specter's flip-flopping first attracted attention, and the report I filed recounts the circumstances that led to his unflattering nickname.
Specter, then a Democrat, had been an assistant district attorney in Philadelphia, and he harbored an ambition to run against his lackluster boss, a man named James Crumlish. The Democratic bosses of Philadelphia were not encouraging Specter because, as one of them told me, "We don't want another young Tom Dewey," the reform-minded New York prosecutor who launched himself into the governorship and two presidential nominations by sending a string of prominent officeholders of both parties off to jail.
So Specter, with the encouragement of such prominent Pennsylvania Republicans as Sen. Hugh Scott and Gov. William Scranton, said he would run against Crumlish on the GOP ticket. To hedge his bets, and to help himself gain Democratic votes, he waited until he won that race to change his own party registration.
Over the decades since, Specter has become one of the senior Republican senators and the best Republican vote-getter in Pennsylvania. But his frequent defections from GOP orthodoxy, not just on abortion but on labor issues, taxes and spending, have made him vulnerable to challenge in the state's Republican primary.
Former Rep. Pat Toomey, a right-wing ideologue, came close to upsetting Specter in the 2004 Senate primary, and next year, Toomey looked to be a better than even money bet to knock off the incumbent.
But much as Specter's decision reflects an increasingly serious weakness in the Republican Party, there is no escaping the fact that it is also an opportunistic move by one of the most opportunistic politicians of modern times.
The one consistency in the history of Arlen Specter has been his willingness to do whatever will best protect and advance the career of Arlen Specter.
Specter has been welcomed to the Democratic Party by President Obama and by Pennsylvania Gov. Ed Rendell, the most influential Democrat in Harrisburg. That makes it unlikely that Specter will face any serious challenge in next year's Senate primary. And, if his health holds up, he will be a strong favorite against Toomey in the November election.
So once again, Specter is likely to reap the political reward from his maneuvering. But the Democrats should be open-eyed about what they are gaining from his return to his original political home.
Write David Broder at Washington Post Writers Group, 1150 15th St. NW, Washington, D.C. 20071.
Update, May 6, 2009: Poor Arlen, his old party is mad at him and now his new party makes him the most junior senator of their party. He loses all his seniority that he accumulated while in the Republican Party and worse his juicy committe positions. Either he made a lousy deal or Harry Reid and the Vice President lied to him about his future in the Democrat Party. Poor Arlen....hard to sore with the Eagles when your flying with the turkeys.
--------------------------------------------------------------------------------
Monday, April 27, 2009
Ben Franklin's Thirteen Virtues

Virtue
Franklin sought to cultivate his character by a plan of thirteen virtues, which he developed at age 20 (in 1726) and continued to practice in some form for the rest of his life. His autobiography lists his thirteen virtues as:
"TEMPERANCE. Eat not to dullness; drink not to elevation."
"SILENCE. Speak not but what may benefit others or yourself; avoid trifling conversation."
"ORDER. Let all your things have their places; let each part of your business have its time."
"RESOLUTION. Resolve to perform what you ought; perform without fail what you resolve."
"FRUGALITY. Make no expense but to do good to others or yourself; i.e., waste nothing."
"INDUSTRY. Lose no time; be always employ'd in something useful; cut off all unnecessary actions."
"SINCERITY. Use no hurtful deceit; think innocently and justly, and, if you speak, speak accordingly."
"JUSTICE. Wrong none by doing injuries, or omitting the benefits that are your duty."
"MODERATION. Avoid extremes; forbear resenting injuries so much as you think they deserve."
"CLEANLINESS. Tolerate no uncleanliness in body, cloaths, or habitation."
"TRANQUILLITY. Be not disturbed at trifles, or at accidents common or unavoidable."
"CHASTITY. Rarely use venery but for health or offspring, never to dullness, weakness, or the injury of your own or another's peace or reputation."
"HUMILITY. Imitate Jesus and Socrates."
Franklin didn't try to work on them all at once. Instead, he would work on one and only one each week "leaving all others to their ordinary chance". While Franklin didn't live completely by his virtues and by his own admission, he fell short of them many times, he believed the attempt made him a better man contributing greatly to his success and happiness, which is why in his autobiography, he devoted more pages to this plan than to any other single point; in his autobiography Franklin wrote, "I hope, therefore, that some of my descendants may follow the example and reap the benefit."[61]
Franklin sought to cultivate his character by a plan of thirteen virtues, which he developed at age 20 (in 1726) and continued to practice in some form for the rest of his life. His autobiography lists his thirteen virtues as:
"TEMPERANCE. Eat not to dullness; drink not to elevation."
"SILENCE. Speak not but what may benefit others or yourself; avoid trifling conversation."
"ORDER. Let all your things have their places; let each part of your business have its time."
"RESOLUTION. Resolve to perform what you ought; perform without fail what you resolve."
"FRUGALITY. Make no expense but to do good to others or yourself; i.e., waste nothing."
"INDUSTRY. Lose no time; be always employ'd in something useful; cut off all unnecessary actions."
"SINCERITY. Use no hurtful deceit; think innocently and justly, and, if you speak, speak accordingly."
"JUSTICE. Wrong none by doing injuries, or omitting the benefits that are your duty."
"MODERATION. Avoid extremes; forbear resenting injuries so much as you think they deserve."
"CLEANLINESS. Tolerate no uncleanliness in body, cloaths, or habitation."
"TRANQUILLITY. Be not disturbed at trifles, or at accidents common or unavoidable."
"CHASTITY. Rarely use venery but for health or offspring, never to dullness, weakness, or the injury of your own or another's peace or reputation."
"HUMILITY. Imitate Jesus and Socrates."
Franklin didn't try to work on them all at once. Instead, he would work on one and only one each week "leaving all others to their ordinary chance". While Franklin didn't live completely by his virtues and by his own admission, he fell short of them many times, he believed the attempt made him a better man contributing greatly to his success and happiness, which is why in his autobiography, he devoted more pages to this plan than to any other single point; in his autobiography Franklin wrote, "I hope, therefore, that some of my descendants may follow the example and reap the benefit."[61]
Saturday, April 25, 2009
Arrogant Americans, Mr. President?

Arrogant Americans, Mr. President?"
Peter Heck
April 12, 2009
Peter Heck
April 12, 2009
As I was sitting in church waiting for the start of the service, my grandpa came walking towards me pointing his finger. No matter how old I get, and no matter how long he's been out of the U.S. Navy, that's still an intimidating sight. As he approached me, his voice quivered as he said, "We saved that continent twice...how dare my president apologize for this country's arrogance." My grandpa is right. Americans need not apologize to the world for their arrogance; r ather, Americans should apologize to their forefathers for the arrogance of their president.
Barack Obama's first foreign trip as President of the United States has confirmed the naiveté so many of us feared during the election cycle. But worse than that, it has also demonstrated that our president suffers from either a complete misunderstanding of our heritage and history, or an utter contempt for it. Neither is excusable.
Garnering cheers from the French of all people, President Obama declared, "In America, there is a failure to appreciate Europe's leading role in the world. Instead of celebrating your dynamic union and seeking to partner with you to meet common challenges, there have been times where America has shown arrogance and been dismissive, even derisive." Consider that Obama spoke these words just 500 miles from the beaches of Normandy, where the sand is still stained with 65-year-old blood of "arrogant Americans."
Indeed, columnist Mark Wh ittington observes, "One should remind Mr. Obama and the Europeans how America has 'shown arrogance' by saving Europe from itself innumerable times in the 20th Century. World War I, World War II, the Cold War, and the=2 0wars in the Balkans were largely resolved by American blood, treasure, and leadership." But all that appears lost on the president's seemingly insatiable quest to mend fences he imagines have been tarnished by the bullish George W. Bush.
If Obama wishes to continue trampling the presidential tradition of showing class to former office holders and publicly trash Bush for his own personal gain, so be it. But all Americans should make clear that no man - even if he is the president - will tarnish the legacy of those Americans who have gone before us. Ours is not a history of arrogance. It is a history of courage, self-sacrifice, and honor.
When abusive monarchs repressed the masses, Americans resisted and overthrew them. When misguided policies led to the unjust op pression of fellow citizens, Americans rebelled and overturned them. When millions of impoverished and destitute wretches sought a new beginning, Americans threw open the door and welcomed them. When imperial dictators were on the march, Americans surrendered their lives to stop them. When communist thugs threatened world peace, Americans bled to defeat them. When an entire continent was overwhelmed with famine and hunger, Americans gave of themselves to sustain it. When terrorist madmen killed the innocent and subjug ated millions, Americans led the fight to topple them.
This is the legacy that generations of Americans have left. If President Obama seeks stronger relations with the world community, perhaps he should begin by reminding them of these very truths, rather than condemning his own countrymen on foreign shores.
This "obsessive need to put down his own country," has caused blogger James Lewis to call President Obama a "stunningly ignorant man" who has evidently never spoken to a concentration camp survivor, a Cuban refugee, a boat person from Vietnam, a Soviet dissident, or a s urvivor of Mao's purges.
Unfortunately, I can no longer bring myself to give Mr. Obama that benefit of the doubt. Not after looking at the pain in my grandpa's eyes...a man who still carries shrapnel in his body from his service to this country.
As a student and teacher of history, I recognize that America has made mistakes...plenty of them, in fact. But one of the great things about our people has been their courage and humility in admitting and correcting those mistakes. God willing, they will prove that willingness again in four years and correct the mistake that is the presidency of Barack Obama.
Who is Peter Heck? here is a link to his web site: http://www.peterheck.com/peterheck/home
Friday, April 24, 2009
Lawrence Summers, President Obama’s chief economic adviser

Lawrence Summers and I have this in common, his boss puts me to sleep. Summers dozed off during a cabinet meeting earlier this week.
Men in Black

Earlier I posted information on Mark Levin's most recent book, Liberty and Tyranny . You might want to read his earlier book, Men in Black, How the Supreme Court is Destroying America.
Bio of Mark Levin
MARK R. LEVIN is one of America’s preeminent conservative commentators and constitutional lawyers. He is the President of Landmark Legal Foundation, host of a number-one rated talk radio program on WABC in New York, and a contributing editor for National Review Online. Levin also served as a top advisor to several members of President Ronald Reagan’s Cabinet, including service as the Chief of Staff to the Attorney General of the United States, Deputy Solicitor at the Department of the Interior, Deputy Assistant Secretary at the Department of Education, and Associate Director of Presidential Personnel. In 2001, the American Conservative Union honored him with the prestigious Ronald Reagan Award. He graduated Phi Beta Kappa from Temple University in 1977 at the age of nineteen, the same year he was elected to the Cheltenham Township School Board in Pennsylvania. In 1980 he graduated from Temple University School of Law
The Heritage Foundation, Leadership for America
Thursday, April 23, 2009
James Madison

"The powers delegated by the proposed Constitution to the federal government are few and defined. Those which are to remain in the State governments are numerous and indefinite."
--James Madison, Federalist No. 45
Wednesday, April 22, 2009
Thomas Jefferson

"Thomas Jefferson (1743-1826), our third president and principal author of
the Declaration of Independence. He was a horticulturist, archaeologist,
paleontologist, author, inventor and founder of the University of
Virginia. When President John F. Kennedy welcomed forty-nine Nobel Prize
winners to the White House in 1962 he said, "I think this is the most
extraordinary collection of talent and of human knowledge that has ever
been gathered together at the White House with the possible exception of
when Thomas Jefferson dined alone." Jefferson has been consistently ranked
by scholars as one of the greatest presidents.."
Thomas Jefferson could be called a prophet.
When we get piled upon one another in large cities, as in Europe, we shall
become as corrupt as Europe .
Thomas Jefferson
The democracy will cease to exist when you take away from those who are
willing to work and give to those who would not.
Thomas Jefferson
It is incumbent on every generation to pay its own debts as it goes. A
principle which if acted on would save one-half the wars of the world.
Thomas Jefferson
I predict future happiness for Americans if they can prevent the
government from wasting the labors of the people under the pretense of
taking care of them.
Thomas Jefferson
My reading of history convinces me that most bad government results from
too much government.
Thomas Jefferson
No free man shall ever be debarred the use of arms.
Thomas Jefferson
The strongest reason for the people to retain the right to keep and bear
arms is, as a last resort, to protect themselves against tyranny in
government.
Thomas Jefferson
The tree of liberty must be refreshed from time to time with the blood of
patriots and tyrants.
Thomas Jefferson
>
> To compel a man to subsidize with his taxes the propagation of ideas which
> he disbelieves and abhors is sinful and tyrannical.
> Thomas Jefferson
>
>
> In light of the present financial crisis, it's interesting to read what
> Thomas Jefferson said in 1802:
>
> 'I believe that banking institutions are more dangerous to our liberties
> than standing armies. If the American people ever allow private banks to
> control the issue of their currency, first by inflation, then by
> deflation, the banks and corporations that will grow up around the banks
> will deprive the people of all property until their children wake-up
> homeless on the continent their fathers conquered.
>
> **********************
>
> Don't have many minds like this anymore
>
Tuesday, April 21, 2009
Lincoln Had It Correct
Monday, April 20, 2009
Chicago Tax Day Tea Party - What CNN Did Not Show You Behind The Scenes - Reporter Owned 4/16/09
Aint she a jewel...CNN had this video removed from Youtube.com
Video is from FoundingBloggers.Com
Video is from FoundingBloggers.Com
Saturday, April 18, 2009
Right-Wing Extremists
Wednesday, April 15, 2009
Tea Party, As true now as then 1819
"An unlimited power to tax involves, necessarily, a power to destroy; because there is a limit beyond which no institution and no property can bear taxation."
--John Marshall, McCullough v. Maryland, 1819
--John Marshall, McCullough v. Maryland, 1819
Wednesday, April 08, 2009
Meet Your New CEO

Good Morning, I am from the Government and I am your new CEO!
This may very well happen all over the country.
Sunday, April 05, 2009
Taps, played from the horn and heart of a child
Canadian Free Press
By Editor Saturday, April 4, 2009
This “TAPS”, played from the horn and heart of a child, who carries a strong message that is heard around the world, could not have come at a better time”.
This beautiful rendition cries out for excellence in our lives to the glory of God.” Thanks to Rev. Lainie Dowell for sending this in.
Excerpt from Andre Rieu’s concert during the World Stadium Tour in Amsterdam Arena, the Netherlands, on 28 June 2008. Amazingly beautiful .. Melissa Venema, age 13, is the trumpet soloist.
The Original version of ‘Taps’ was called ‘Last Post’, and was written by Daniel Butterfield in 1801.
It was rather lengthy and formal, as you will hear in this clip, so in 1862 it was shortened to 24 notes and re-named ‘Taps’.
Melissa Venema is playing it on a trumpet whereby the original was played on a bugle.
Day is done, gone the sun,
From the hills, from the lake,
From the sky.
All is well, safely rest,
God is nigh.
Go to sleep, peaceful sleep,
May the soldier or sailor,
God keep.
On the land or the deep,
Safe in sleep.
Love, good night, Must thou go,
When the day, And the night
Need thee so?
All is well. Speedeth all
To their rest.
Fades the light; And afar
Goeth day, And the stars
Shineth bright,
Fare thee well; Day has gone,
Night is on.
Thanks and praise, For our days,
‘Neath the sun, Neath the stars,
‘Neath the sky,
As we go, This we know,
God is nigh.
Listen to "Taps" in its entirety.
By Editor Saturday, April 4, 2009
This “TAPS”, played from the horn and heart of a child, who carries a strong message that is heard around the world, could not have come at a better time”.
This beautiful rendition cries out for excellence in our lives to the glory of God.” Thanks to Rev. Lainie Dowell for sending this in.
Excerpt from Andre Rieu’s concert during the World Stadium Tour in Amsterdam Arena, the Netherlands, on 28 June 2008. Amazingly beautiful .. Melissa Venema, age 13, is the trumpet soloist.
The Original version of ‘Taps’ was called ‘Last Post’, and was written by Daniel Butterfield in 1801.
It was rather lengthy and formal, as you will hear in this clip, so in 1862 it was shortened to 24 notes and re-named ‘Taps’.
Melissa Venema is playing it on a trumpet whereby the original was played on a bugle.
Day is done, gone the sun,
From the hills, from the lake,
From the sky.
All is well, safely rest,
God is nigh.
Go to sleep, peaceful sleep,
May the soldier or sailor,
God keep.
On the land or the deep,
Safe in sleep.
Love, good night, Must thou go,
When the day, And the night
Need thee so?
All is well. Speedeth all
To their rest.
Fades the light; And afar
Goeth day, And the stars
Shineth bright,
Fare thee well; Day has gone,
Night is on.
Thanks and praise, For our days,
‘Neath the sun, Neath the stars,
‘Neath the sky,
As we go, This we know,
God is nigh.
Listen to "Taps" in its entirety.
Interview with God
Omama Wants to Control the Banks
Wall Street Journal-Online Opinion Journal
APRIL 4, 2009
Obama Wants to Control the Banks
There's a reason he refuses to accept repayment of TARP money.
· By STUART VARNEY
I must be naive. I really thought the administration would welcome the return of bank bailout money. Some $340 million in TARP cash flowed back this week from four small banks in Louisiana, New York, Indiana and California. This isn't much when we routinely talk in trillions, but clearly that money has not been wasted or otherwise sunk down Wall Street's black hole. So why no cheering as the cash comes back?
My answer: The government wants to control the banks, just as it now controls GM and Chrysler, and will surely control the health industry in the not-too-distant future. Keeping them TARP-stuffed is the key to control. And for this intensely political president, mere influence is not enough. The White House wants to tell 'em what to do. Control. Direct. Command.
It is not for nothing that rage has been turned on those wicked financiers. The banks are at the core of the administration's thrust: By managing the money, government can steer the whole economy even more firmly down the left fork in the road.
If the banks are forced to keep TARP cash -- which was often forced on them in the first place -- the Obama team can work its will on the financial system to unprecedented degree. That's what's happening right now.
Here's a true story first reported by my Fox News colleague Andrew Napolitano (with the names and some details obscured to prevent retaliation). Under the Bush team a prominent and profitable bank, under threat of a damaging public audit, was forced to accept less than $1 billion of TARP money. The government insisted on buying a new class of preferred stock which gave it a tiny, minority position. The money flowed to the bank. Arguably, back then, the Bush administration was acting for purely economic reasons. It wanted to recapitalize the banks to halt a financial panic.
Fast forward to today, and that same bank is begging to give the money back. The chairman offers to write a check, now, with interest. He's been sitting on the cash for months and has felt the dead hand of government threatening to run his business and dictate pay scales. He sees the writing on the wall and he wants out. But the Obama team says no, since unlike the smaller banks that gave their TARP money back, this bank is far more prominent. The bank has also been threatened with "adverse" consequences if its chairman persists. That's politics talking, not economics.
Think about it: If Rick Wagoner can be fired and compact cars can be mandated, why can't a bank with a vault full of TARP money be told where to lend? And since politics drives this administration, why can't special loans and terms be offered to favored constituents, favored industries, or even favored regions? Our prosperity has never been based on the political allocation of credit -- until now.
Which brings me to the Pay for Performance Act, just passed by the House. This is an outstanding example of class warfare. I'm an Englishman. We invented class warfare, and I know it when I see it. This legislation allows the administration to dictate pay for anyone working in any company that takes a dime of TARP money. This is a whip with which to thrash the unpopular bankers, a tool to advance the Obama administration's goal of controlling the financial system.
After 35 years in America, I never thought I would see this. I still can't quite believe we will sit by as this crisis is used to hand control of our economy over to government. But here we are, on the brink. Clearly, I have been naive.
Mr. Varney is a host on the Fox Business Channel.
APRIL 4, 2009
Obama Wants to Control the Banks
There's a reason he refuses to accept repayment of TARP money.
· By STUART VARNEY
I must be naive. I really thought the administration would welcome the return of bank bailout money. Some $340 million in TARP cash flowed back this week from four small banks in Louisiana, New York, Indiana and California. This isn't much when we routinely talk in trillions, but clearly that money has not been wasted or otherwise sunk down Wall Street's black hole. So why no cheering as the cash comes back?
My answer: The government wants to control the banks, just as it now controls GM and Chrysler, and will surely control the health industry in the not-too-distant future. Keeping them TARP-stuffed is the key to control. And for this intensely political president, mere influence is not enough. The White House wants to tell 'em what to do. Control. Direct. Command.
It is not for nothing that rage has been turned on those wicked financiers. The banks are at the core of the administration's thrust: By managing the money, government can steer the whole economy even more firmly down the left fork in the road.
If the banks are forced to keep TARP cash -- which was often forced on them in the first place -- the Obama team can work its will on the financial system to unprecedented degree. That's what's happening right now.
Here's a true story first reported by my Fox News colleague Andrew Napolitano (with the names and some details obscured to prevent retaliation). Under the Bush team a prominent and profitable bank, under threat of a damaging public audit, was forced to accept less than $1 billion of TARP money. The government insisted on buying a new class of preferred stock which gave it a tiny, minority position. The money flowed to the bank. Arguably, back then, the Bush administration was acting for purely economic reasons. It wanted to recapitalize the banks to halt a financial panic.
Fast forward to today, and that same bank is begging to give the money back. The chairman offers to write a check, now, with interest. He's been sitting on the cash for months and has felt the dead hand of government threatening to run his business and dictate pay scales. He sees the writing on the wall and he wants out. But the Obama team says no, since unlike the smaller banks that gave their TARP money back, this bank is far more prominent. The bank has also been threatened with "adverse" consequences if its chairman persists. That's politics talking, not economics.
Think about it: If Rick Wagoner can be fired and compact cars can be mandated, why can't a bank with a vault full of TARP money be told where to lend? And since politics drives this administration, why can't special loans and terms be offered to favored constituents, favored industries, or even favored regions? Our prosperity has never been based on the political allocation of credit -- until now.
Which brings me to the Pay for Performance Act, just passed by the House. This is an outstanding example of class warfare. I'm an Englishman. We invented class warfare, and I know it when I see it. This legislation allows the administration to dictate pay for anyone working in any company that takes a dime of TARP money. This is a whip with which to thrash the unpopular bankers, a tool to advance the Obama administration's goal of controlling the financial system.
After 35 years in America, I never thought I would see this. I still can't quite believe we will sit by as this crisis is used to hand control of our economy over to government. But here we are, on the brink. Clearly, I have been naive.
Mr. Varney is a host on the Fox Business Channel.
Saturday, April 04, 2009
Did you hear this on TV or read it In your Newspaper????
The question that flummoxed the great orator
·
John Crace
The Guardian, Friday 3 April 2009
Barack Obama, the World's Greatest Orator (™all news organisations), didn't exactly cover himself in glory when the BBC's political editor Nick Robinson asked him a question about who was to blame for the financial crisis. Normally word perfect, Obama ummed, ahed and waffled for the best part of two and a half minutes. Here, John Crace decodes what he was really thinking ...
Nick Robinson: "A question for you both, if I may. The prime minister has repeatedly blamed the United States of America for causing this crisis. France and Germany both blame Britain and America for causing this crisis. Who is right? And isn't the debate about that at the heart of the debate about what to do now?" Brown immediately swivels to leave Obama in pole position. There is a four-second delay before Obama starts speaking [THANKS FOR NOTHING, GORDY BABY. REMIND ME TO HANG YOU OUT TO DRY ONE DAY.] Barack Obama: "I, I, would say that, er ... pause [I HAVEN'T A CLUE] ... if you look at ... pause [WHO IS THIS NICK ROBINSON JERK?] ... the, the sources of this crisis ... pause [JUST KEEP GOING, BUDDY] ... the United States certainly has some accounting to do with respect to . . . pause [I'M IN WAY TOO DEEP HERE] ... a regulatory system that was inadequate to the massive changes that have taken place in the global financial system ... pause, close eyes [THIS IS GOING TO GO DOWN LIKE A CROCK OF SHIT BACK HOME. HELP]. I think what is also true is that ... pause [I WANT NICK ROBINSON TO DISAPPEAR] ... here in Great Britain ... pause [SHIT, GORDY'S THE HOST, DON'T LAND HIM IN IT] ... here in continental Europe ... pause [DAMN IT, BLAME EVERYONE.] ... around the world. We were seeing the same mismatch between the regulatory regimes that were in place and er ... pause [I'VE LOST MY TRAIN OF THOUGHT AGAIN] ... the highly integrated, er, global capital markets that have emerged ... pause [I'M REALLY WINGING IT NOW]. So at this point, I'm less interested in ... pause [YOU] ... identifying blame than fixing the problem. I think we've taken some very aggressive steps in the United States to do so, not just responding to the immediate crisis, ensuring banks are adequately capitalised, er, dealing with the enormous, er ... pause [WHY DIDN'T I QUIT WHILE I WAS AHEAD?] ... drop-off in demand and contraction that has taken place. More importantly, for the long term, making sure that we've got a set of, er, er, regulations that are up to the task, er, and that includes, er, a number that will be discussed at this summit. I think there's a lot of convergence between all the parties involved about the need, for example, to focus not on the legal form that a particular financial product takes or the institution it emerges from, but rather what's the risk involved, what's the function of this product and how do we regulate that adequately, much more effective coordination, er, between countries so we can, er, anticipate the risks that are involved there. Dealing with the, er, problem of derivatives markets, making sure we have set up systems, er, that can reduce some of the risks there. So, I actually think ... pause [FANTASTIC. I'VE LOST EVERYONE, INCLUDING MYSELF] ... there's enormous consensus that has emerged in terms of what we need to do now and, er ... pause [I'M OUTTA HERE. TIME FOR THE USUAL CLOSING BOLLOCKS] ... I'm a great believer in looking forwards than looking backwards.
·
John Crace
The Guardian, Friday 3 April 2009
Barack Obama, the World's Greatest Orator (™all news organisations), didn't exactly cover himself in glory when the BBC's political editor Nick Robinson asked him a question about who was to blame for the financial crisis. Normally word perfect, Obama ummed, ahed and waffled for the best part of two and a half minutes. Here, John Crace decodes what he was really thinking ...
Nick Robinson: "A question for you both, if I may. The prime minister has repeatedly blamed the United States of America for causing this crisis. France and Germany both blame Britain and America for causing this crisis. Who is right? And isn't the debate about that at the heart of the debate about what to do now?" Brown immediately swivels to leave Obama in pole position. There is a four-second delay before Obama starts speaking [THANKS FOR NOTHING, GORDY BABY. REMIND ME TO HANG YOU OUT TO DRY ONE DAY.] Barack Obama: "I, I, would say that, er ... pause [I HAVEN'T A CLUE] ... if you look at ... pause [WHO IS THIS NICK ROBINSON JERK?] ... the, the sources of this crisis ... pause [JUST KEEP GOING, BUDDY] ... the United States certainly has some accounting to do with respect to . . . pause [I'M IN WAY TOO DEEP HERE] ... a regulatory system that was inadequate to the massive changes that have taken place in the global financial system ... pause, close eyes [THIS IS GOING TO GO DOWN LIKE A CROCK OF SHIT BACK HOME. HELP]. I think what is also true is that ... pause [I WANT NICK ROBINSON TO DISAPPEAR] ... here in Great Britain ... pause [SHIT, GORDY'S THE HOST, DON'T LAND HIM IN IT] ... here in continental Europe ... pause [DAMN IT, BLAME EVERYONE.] ... around the world. We were seeing the same mismatch between the regulatory regimes that were in place and er ... pause [I'VE LOST MY TRAIN OF THOUGHT AGAIN] ... the highly integrated, er, global capital markets that have emerged ... pause [I'M REALLY WINGING IT NOW]. So at this point, I'm less interested in ... pause [YOU] ... identifying blame than fixing the problem. I think we've taken some very aggressive steps in the United States to do so, not just responding to the immediate crisis, ensuring banks are adequately capitalised, er, dealing with the enormous, er ... pause [WHY DIDN'T I QUIT WHILE I WAS AHEAD?] ... drop-off in demand and contraction that has taken place. More importantly, for the long term, making sure that we've got a set of, er, er, regulations that are up to the task, er, and that includes, er, a number that will be discussed at this summit. I think there's a lot of convergence between all the parties involved about the need, for example, to focus not on the legal form that a particular financial product takes or the institution it emerges from, but rather what's the risk involved, what's the function of this product and how do we regulate that adequately, much more effective coordination, er, between countries so we can, er, anticipate the risks that are involved there. Dealing with the, er, problem of derivatives markets, making sure we have set up systems, er, that can reduce some of the risks there. So, I actually think ... pause [FANTASTIC. I'VE LOST EVERYONE, INCLUDING MYSELF] ... there's enormous consensus that has emerged in terms of what we need to do now and, er ... pause [I'M OUTTA HERE. TIME FOR THE USUAL CLOSING BOLLOCKS] ... I'm a great believer in looking forwards than looking backwards.
Wednesday, April 01, 2009
"Green Jobs"--Another Hoax
One of the defining features of the Obama administration so far is its almost pathological inability to make hard choices--or even to acknowledge that hard choices need to be made. A prime example is the administration's insistence that making energy more expensive will somehow benefit our economy. This proposition is so foolish as to be almost self-refuting: in my view, anyone who doesn't understand that you can't create wealth by subsidizing the inefficient production of energy shouldn't be voting.
In particular, Barack Obama has trumpeted the creation of "green jobs" as somehow offsetting the obvious damage that will be done by his cap-and-trade system and other measures that will make conventional energy sources more expensive. He has pointed specifically to Spain as a country whose experience with "green jobs" we should emulate. So an empirical study of Spain's experience is timely. And, as it happens, one has just been done by Dr. Gabriel Calzada of Juan Carlos University in Madrid.
It is reported on here by the Institute for Energy Research. Some highlights:
* The U.S. can expect 2.2 jobs to be destroyed for every 1 renewable job financed by the government.
* Only 1 in 10 of the jobs actually created through green investment is permanent.
* Since 2000, Spain has spent €571,138 ($753,778) to create each "green job," including subsidies of more than €1 million ($1,319,783) per wind industry job.Those programs resulted in the destruction of nearly 113,000 jobs elsewhere in the economy.
* Each "green" megawatt installed destroyed 5.39 jobs in non-energy sectors of the Spanish economy.
* The total over-cost--the amount paid over the cost that would result from buying the electricity generated by the renewable power plants at market prices--between 2000 and 2008 amounts to 7,918.54 million Euros ($10 billion).
* The total subsidy spent and committed to these three renewable sources amounts to €28,671 million ($36 billion).
* Consumer energy costs in Spain would have to be increased 31 percent to repay the debt generated by the green jobs subsidies.
The general rule is, whenever anyone says the word "green," grab your wallet and run for the hills.
So, what's going on here? Is the Obama administration really too dumb to figure out that subsidizing "green jobs" is a losing proposition? I don't think so. I think this is just one more aspect of the massive power grab that is coming out of Obama's Washington. I think the Democrats want to assert their control over all sectors of the economy: they want to decide what companies will succeed and what companies will fail; how much employees of publicly traded companies will be paid; what jobs will exist and what jobs will become obsolete.
When we are all dependent on the federal government, the only way anyone can count on staying in business or having his job preserved will be by donating money to the Democratic Party--the ultimate protection racket, one of which the Mafia can only dream, and one which is already well underway. When it is complete, the Democrats' majority status will be assured for the indefinite future. That is, I think, what the Dems have in mind, and it explains a great deal about Obamanomics.
Post Today 4/1/09 on Power Line, The Daily Digest Blog
In particular, Barack Obama has trumpeted the creation of "green jobs" as somehow offsetting the obvious damage that will be done by his cap-and-trade system and other measures that will make conventional energy sources more expensive. He has pointed specifically to Spain as a country whose experience with "green jobs" we should emulate. So an empirical study of Spain's experience is timely. And, as it happens, one has just been done by Dr. Gabriel Calzada of Juan Carlos University in Madrid.
It is reported on here by the Institute for Energy Research. Some highlights:
* The U.S. can expect 2.2 jobs to be destroyed for every 1 renewable job financed by the government.
* Only 1 in 10 of the jobs actually created through green investment is permanent.
* Since 2000, Spain has spent €571,138 ($753,778) to create each "green job," including subsidies of more than €1 million ($1,319,783) per wind industry job.Those programs resulted in the destruction of nearly 113,000 jobs elsewhere in the economy.
* Each "green" megawatt installed destroyed 5.39 jobs in non-energy sectors of the Spanish economy.
* The total over-cost--the amount paid over the cost that would result from buying the electricity generated by the renewable power plants at market prices--between 2000 and 2008 amounts to 7,918.54 million Euros ($10 billion).
* The total subsidy spent and committed to these three renewable sources amounts to €28,671 million ($36 billion).
* Consumer energy costs in Spain would have to be increased 31 percent to repay the debt generated by the green jobs subsidies.
The general rule is, whenever anyone says the word "green," grab your wallet and run for the hills.
So, what's going on here? Is the Obama administration really too dumb to figure out that subsidizing "green jobs" is a losing proposition? I don't think so. I think this is just one more aspect of the massive power grab that is coming out of Obama's Washington. I think the Democrats want to assert their control over all sectors of the economy: they want to decide what companies will succeed and what companies will fail; how much employees of publicly traded companies will be paid; what jobs will exist and what jobs will become obsolete.
When we are all dependent on the federal government, the only way anyone can count on staying in business or having his job preserved will be by donating money to the Democratic Party--the ultimate protection racket, one of which the Mafia can only dream, and one which is already well underway. When it is complete, the Democrats' majority status will be assured for the indefinite future. That is, I think, what the Dems have in mind, and it explains a great deal about Obamanomics.
Post Today 4/1/09 on Power Line, The Daily Digest Blog