Skip to main content

Home/ Socialism and the End of the American Dream/ Contents contributed and discussions participated by Gary Edwards

Contents contributed and discussions participated by Gary Edwards

Gary Edwards

MUST SEE - Felonious Monk Tells Obama "Stop Being A Dickhead And Balance The ... - 0 views

  •  
    Outrageous rant from rapster Felonious Monk.  Very vulgar ghetto speak, but right on target.  Who would have guessed that Felonious is a Tea Party Patriot?  Balance the Budget!  Stop Spending money you don't have.  Stop spending money we have to borrow from the Chicomms!  Great stuff if you can handle the colorful expression.  This is one angry American, and i'm right with him.
Gary Edwards

Disaster Averted? Not! The Back Story on the Debt Limit | Experts' Corner | Big Think - 0 views

  • You see, it is an extremely important but little known fact that China's currency peg -- the #1 trade cheat the Dragon uses to vacuum jobs out of the USA -- actually compels them to loan us money no matter how loudly they insist that that they have a choice of investments. It works like this: American's proclivity to take both the wages from our Democratic stimulus job and the checks from our Republican tax refunds down to Wal-Mart for another cart full of Chinese products, not only creates more jobs in Guangzhou than it does Milwaukee but also leaves China bursting with US dollars. The Chinese government then soaks up a lot of those bucks from companies like Huawei by selling short term, high yield bonds that pay back in Yuan. They then march those dollars right back to the US treasury. In fact, they pay MORE to get the dollars out of private hands in China than they earn on the increasingly risky bet they are making in US debt! At this point you should be thinking, "WTF?"
  • If China's firms were allowed to trade their dollars for Chinese Yuan on the foreign exchanges, the dollar would fall against the Yuan and undermine China's unfair 40% advantage against every American (and European and Asian) product. If they trade those bucks for some other currency, like the Euro, the dollar is still being sold and it still falls, plus China's growth draws a them right back in searching to buy Yuan, which would then rise. If China purchases products or commodities on the open markets, those dollars would still be exchanged, the greenback would drop to competitive levels, the Yuan would rise to its real purchasing power and Americans would go back to work making things.
  • Wishing to avoid that horror of horrors at all costs, the Boys from Beijing must hold their noses and throw another billion good dollars after bad into the pit of the US treasury.
  • ...6 more annotations...
  • Like Frodo's ring of power, the dollar can only be destroyed where it was created.
  • So when the President and the Congress reluctantly shake hands over this deal to avert disaster, understand that they have in great part only agreed to fuel the fire that has been burning down America's jobs factory for years, and thereby undermining government revenues and creating the apparent need for constant stimulus. 
  • So far, borrowing is the only way these folks of wee little imagination can see to sustain both the President's exorbitant level of spending and the Republican's stubborn pledge against tax increases.
  • The obvious solutions eludes them, which is either to stop borrowing from communist criminals and borrow at higher interest rates from Americans, or slap a significant tariff on China until they drop their currency peg and illegal trade barriers
  • The last decade of ultra low-interest rates, government stimulus efforts, and engagement with Communist China have clearly been an unmitigated disaster for the US economy.
  • Is anyone in DC listening?
  •  
    Excellent article written by Peter Navarro and Greg Autry, authors of "Death by China: Confronting the Dragon -- A Global Call to Action". The authors explain why China MUST continue to buy US Treasuries regardless of the low rate of return and extremely high risk of default or ravage by inflation through the destruction of the dollar.  Very interesting.  But the game China is playing really looks unsustainable. The one thing the authors don't touch is the role International Banksters and their New World Corporations have played in this assault on American propserity.  I guess i have to get the book!   One last point; having worked for a Chinese Corporation desiring to enter the USA-European information technology markets, i don't doubt for a moment that Autry and Navarro have this exactly right.  We are at war, with Chicomms providing the shock troops for this latest Bankster - Bankster Corp assault on our liberty.
Gary Edwards

Congressional Power - 1 views

  •  
    Legal Brief on Congressional Power, Court Rulings, & the Constitution: The expressed powers of Congress are listed in the Constitution. Congress also has implied powers, which are based on the Constitution's right to make any laws that are "necessary and proper" to carry out those expressed powers. Congress has exercised its implied powers thousands of times over the years. Here are but a few major illustrations of that fact. 1780 1789 The Constitution gives expressed powers to Congress in Article 1, Section 8. 1800 1810 1819 In McCulloch v. Maryland, the Supreme Court holds that the powers to tax, borrow, and regulate commerce give Congress the implied power to establish a national bank. 1820 1824 Gibbons v. Ogden is the first commerce clause case to reach the Supreme Court. The broad definition of commerce the Court lays out in its ruling extends federal authority. 1830 1840 1850 1860 1862 The U.S. government issues its first legal tender notes, which are popularly called greenbacks. 1870 1870 In Hepburn v. Griswold the Supreme Court rules that the Constitution does not authorize the printing of paper money. 1870 The Court reverses its position on the printing of paper money and holds that issuing paper money is a proper use of the currency power in the Legal Tender cases. The decision in Juliard v. Greenman (1884) reaffirms this holding. 1880 1890 1890 The Sherman Antitrust Act, based on the commerce power, regulates monopolies and other practices that limit competition. 1900 1910 1920 1930 1935 The Wagner Act, based on the commerce power, recognizes labor's right to bargain collectively. 1935 The Social Security Act is passed. 1937 The Supreme Court upholds the Social Security Act of 1935 as a proper exercise of the powers to tax and provide for the general welfare in Steward Machine Co. v. Davis and Helvering v. Davis. 1940 1950 1956 The Interstate and National Highway Act, based on the commerce and war powers, provides for a national interstate highway system.
Gary Edwards

The EAGLE PLAN : Ending the War in Afghanistan - 0 views

  •  
    I caught the Coast-to-Coast interview with Marshal Klarfeld.  Marshal explained the Eagle plan, which was first developed in 1967 as a method of negotiating a peace plan for Vietnam.  He has updated the plan Afghanistan.  Very interesting proposal.  And no doubt Marshal is a great thinker and historian. The EAGLE PLAN: an alternative strategy This is a non partisan effort to bring about the end of US military involvement in Afghanistan. There are many reasons we, as citizens, need to take action. Some reasons are: the loss of American lives and the duration of this war that seems endless; the loss of innocent Afghan lives and the destruction of their homes and villages; the incredible financial burden on US taxpayers and the destruction of our economy. Our politicians and our military have not come up with a workable solution to date. This plan is an attempt to find an alternative to the continuation of ineffective policy.
Gary Edwards

Ratigan's Rant Heard Round the World | The Reformed Broker - 0 views

  •  
    This is the viral video of MSNBC's Dylan Ratigan just absolutely kicking ass and taking names.  Dylan goes after the Banksters, shouting that our politicians are bought and paid for by the financial industry.  He shouts that the Bankster are "extracting" our wealth through taxes, export/import and financial rules that favor the Banksters.  His solution is to take the money out of politics.  He claims tha tonly the President can do this by taking the argument to the people and explaining how their congress is bought and paid for.  Incredible rant!
Gary Edwards

Cow Economics & Politics - 1 views

  •  
    Update on that classic economic-political use case; "You have two cows". Hard to joke when the stock market has lost over $2 Trill in one week, and neither the government or the Federal Banksters Reserve show any concern.  Obama's golf game, fund raising and vacation schedule will not miss a beat.  Cape Cod calls and Obama is there.  Bernake and the Banksters met today, with a stock market begging for him to print up some more free fuel.  Bernake decides to stick with the plan and go with the collapse of the USA and the Dollar as scheduled. GOLD today is over $1780 /oz.  It's value in dollars has risen over $120 /oz since the raising of the debt limit to near $17 Trillion. The stock market melted down yesterday, crashing through key support barriers … shattering the confidence of millions of individual investors … and prompting most - who had been trying to turn a blind eye to the carnage - to start heading for the hills. Yesterday, Aug 9 2011 was the worst trading day since December of 2008. Just since the market began falling on July 26th, more than $7.8 trillion in equity has now been erased! Even though the Banksters are flush with $16.1 Trill in Federal Bankster Reserve coupons (GAO Audit of 2009-2010 Bankster books), the market can't seem to sort things out. And Banks stocks got hit hardest of all in yesterdays crash: US Bancorp and Wells Fargo were both down 9%. Huntington Bancshares and JP Morgan Chase declined 8.5% and 9.4% respectively. Fifth Third Bankcorp fell 11.4% and Capital One fell 12.08%. Regions Bank dropped 13.5% and SunTrust lost 13.9% of its value. Saw a National Media special on S&P last night.  These clowns gave Enron, Worldcom, Lehman Brothers, Ireland, Greece and Iceland their highest ratings right up until the eve of their collapse.  And then there's those trillions in garbage mortgage securities and derivatives rated triple A right through the collapse of the World economy
Gary Edwards

U.S. Debt - How Much China Owns - 0 views

  •  
    So who owns all that U.S. debt? About 32 cents for every dollar of U.S. debt, or $4.6 trillion, is owned by the federal government in trust funds, for Social Security and other programs such as retirement accounts, according to the U.S. Department of Treasury. China and U.S. Debt The largest portion of U.S. debt, 68 cents for every dollar or about $10 trillion, is owned by individual investors, corporations, state and local governments and, yes, even foreign governments such as China that hold Treasury bills, notes and bonds. Foreign governments hold about 46 percent of all U.S. debt held by the public, more than $4.5 trillion. The largest foreign holder of U.S. debt is China, which owns more about $1.2 trillion in bills, notes and bonds, according to the Treasury. In total, China owns about 8 percent of publicly held U.S. debt. Of all the holders of U.S. debt China is the third-largest, behind only the Social Security Trust Fund's holdings of nearly $3 trillion and the Federal Reserve's nearly $2 trillion holdings in Treasury investments, purchased as part of its quantitative easing program to boost the economy.   The truth is the bulk of the $14.3 trillion U.S. debt - $9.8 trillion in all - is owned by the American people and its government.
Gary Edwards

How Can the US Get Back its AAA Rating? | NewsyStocks.com - 0 views

  • First among the recommendations of S&P 500, it expects the US government to get the federal debt down to around 60 percent or 65 percent of GDP, which has been historically around 40 percent.
  • . Its concerns were divided into two categories. First, the Americans are growing old and the cons
  • Currently, t
  • ...9 more annotations...
  • S&P had made it clear that budget cuts alone are not sufficient but taxes must be increased.
  • S&P wants the US to generate enough savings from its debt deal to stabilize the national debt so that it will no longer
  • w faster than t
  • The government requires at least $4 trillion to $5 trillion in savings over the next 10 years to achieve the debt target.
  • tinue to gro
  • ncreases in entitlement costs cannot be sustained alone by the current tax collections for programs like Social S
  • ecurity.
  • budget cuts alone are not enough to reduce deficits. So taxes have to be increased to add revenue to the Treasury.
  • A cap on spending would act as sort of a stopgap preventing lawmakers from letting party politics put a blockade in the way on necessary steps towards the economic recovery of the US.
  •  
    S&P wants the US to generate enough savings from its debt deal to stabilize the national debt so that it will no longer continue to grow faster than the economy. Its concerns were divided into two categories. First, the Americans are growing old and the consequent increases in entitlement costs cannot be sustained alone by the current tax collections for programs like Social Security. So, the government needs to create a framework to address the costs of an aging American population. This could require an increase in the age limit at which Social Security and Medicare Benefits could be accessed and to exclude those people who have savings or jobs from both of these programs.   The other crucial area of concerns highlighted by S&P is that budget cuts alone are not enough to reduce deficits. So taxes have to be increased to add revenue to the Treasury. While increasing revenue and cutting spending will help in reducing the deficit and help in balancing the budget. A cap on spending would act as sort of a stopgap preventing lawmakers from letting party politics put a blockade in the way on necessary steps towards the economic recovery of the US.   Analysts believe that the US needs to compromise on its defence budget also, which still supports large deployments of armed forces and material overseas. The US has commitments to NATO in Afghanistan and Iraq, and the federal government believes that it needs to support strategic initiatives in place like Japan. The government has to take strong steps in its policy towards these obligations to put the country's economy back on track.   The US owes maximum of its debt to China. So the Congress needs to put pressure on the Chinese government to alter the value of its currency to make the trade between the two countries fair. Furthermore, cheap goods exported by China have caused a loss of manufacturing jobs in the US, so the latter should place tariffs on more Chinese goods as a way to raise money and prevent dumping of pro
Gary Edwards

Obama Downgrade: The Guns of August - 2 views

Obama-downgrade Cut-Cap-Balance Ryan-Budget Tea-Party-Patriots financial-collapse
started by Gary Edwards on 08 Aug 11 no follow-up yet
  • Gary Edwards
     
    The world is upside down with the USA credit rating downgrade. Gold surges over $1700 per oz. The stock market continues it's downward spiral, now in free fall. The Federal Reserve Bankster Cartel has intervened through the mass purchase of futures, trying no doubt to make it look as if investors have confidence in the USA and Obama. It's not working.

    The Tea Party passed two plans to restore USA crdibility and good standing: The Ryan Balanced Budget and the Cut, Cap & Balance plan. Both plans passed the House with bipartisan support. Both plans were acceptable to the credit rating agencies, including Standard & Poor. Both plans were blocked by the Democrats in the Senate, and, threatened with a veto from Obama. The people with no plan blocked the only plans that would have saved the USA credit rating.

    Rush made the point this morning that if Obama and the Democrats cared about this country, they would be insisting that both the Tea Party plans, the Ryan Balanced Budget and the Cut, Cap & Balance plans be put forward in the Senate immediately for a vote, with the full backing of Obama.

    Rush pointed out that if Obama and the Democrats didn't do this, or didn't come forward with a proposal of their own that actually qualified and met the credit ratings agencies $4 Trill - stop the reckless spending criteria debt concerns, then our worst fears would be confirmed. Our worst fears being that Obama and the Democrats are worse than mere incompetent socialist ideologues. That they are in fact out to destroy the goose that laid the golden egg: Constitutional Capitalism, American exceptionalism, and our God given right to life liberty and the pursuit of happiness that under-girds the extraordinary story of American prosperity.

    So Obama has a choice today. He either complies with the demands that the USA Government get it's finances in order by supporting the credit ratings approved Tea Party plans. Or, explain why his vision of a downgraded, prosperity bereft and indentured debt bound America is the way forward.

    Time to start demanding resignations. The fish rots from the head

    An article by Eric Erikson of Red State, "The GOP Should Be Mindful of August" (http://bit.ly/qgAQJi) points out that the Tea Party is the only entity providing a debt reduction plan approved by the Credit Rating Agencies, including Standard & Poor. Actually, the Tea Party had TWO plans approved: the Ryan Balanced Budget, and, Cut, Cap & Balance. Eric hammers this fact home. But is anyone listening? Other than Rush Limbaugh?

    excerpt:
    ..............
    The White House no longer has a commander in chief in charge, but a professional victim. Last week, it was the Arab Spring, those damn Europeans, Mother Nature, etc. Now it is all about those evil tea partiers.

    For three years, Barack Obama has blamed George W. Bush for all his ills. Yes, it is true, Barack Obama inherited an economy sliding backward. But it is also true Barack Obama inherited a AAA credit rating from George W. Bush. Obama's policies have exacerbated a bad economy and caused us to lose our credit rating.

    But still, expect a full court press to blame the GOP and Tea Party.

    So I have some quick advice for the GOP.

    Back when S&P said it was considering a down grade, it set out two criteria to avoid losing the downgrade: (1) at least $4 trillion in cuts and (2) bipartisan support. Only the tea party movement came up with such a plan - Cut, Cap, and Balance.

    It received bipartisan support in the House, came within five votes of a majority in the Senate, and not only cut $4 trillion, but put caps on future government spending and balanced the federal budget. No other plan, including the public grand bargain and Barack Obama's own super-double-top-secret plan that no one has ever seen did that.

    Were I in Republican Leadership in Washington, I would haul my butt back to D.C. right now and start fighting again for Cut, Cap, and Balance. 66% of Americans support the plan. It is the only plan that would have avoided a credit decline.

    Go back and pick up the fight on the front lines for freedom. And if they just can't, they they better point out to the new Super Committee that it was, in fact, possible to cut $4 trillion without enacting job killing tax increases and encourage them to send back as its package Cut, Cap, and Balance.
Gary Edwards

The GOP Should Be Mindful Of August And Take Back Up Holding the Line | RedState - 0 views

  •  
    The White House no longer has a commander in chief in charge, but a professional victim. Last week, it was the Arab Spring, those damn Europeans, Mother Nature, etc. Now it is all about those evil tea partiers. For three years, Barack Obama has blamed George W. Bush for all his ills. Yes, it is true, Barack Obama inherited an economy sliding backward. But it is also true Barack Obama inherited a AAA credit rating from George W. Bush. Obama's policies have exacerbated a bad economy and caused us to lose our credit rating. But still, expect a full court press to blame the GOP and Tea Party. So I have some quick advice for the GOP. Back when S&P said it was considering a down grade, it set out two criteria to avoid losing the downgrade: (1) at least $4 trillion in cuts and (2) bipartisan support. Only the tea party movement came up with such a plan - Cut, Cap, and Balance. It received bipartisan support in the House, came within five votes of a majority in the Senate, and not only cut $4 trillion, but put caps on future government spending and balanced the federal budget. No other plan, including the public grand bargain and Barack Obama's own super-double-top-secret plan that no one has ever seen did that. Were I in Republican Leadership in Washington, I would haul my butt back to D.C. right now and start fighting again for Cut, Cap, and Balance. 66% of Americans support the plan. It is the only plan that would have avoided a credit decline. Go back and pick up the fight on the front lines for freedom. And if they just can't, they they better point out to the new Super Committee that it was, in fact, possible to cut $4 trillion without enacting job killing tax increases and encourage them to send back as its package Cut, Cap, and Balance.
  •  
    The Tea Party passed two plans to restore USA crdibility and good standing: The Ryan Balanced Budget and the Cut, Cap & Balance plan. Both plans passed the House with bipartisan support. Both plans were acceptable to the credit rating agencies, including Standard & Poor. Both plans were blocked by the Democrats in the Senate, and, threatened with a veto from Obama. The people with no plan blocked the only plans that would have saved the USA credit rating. Rush made the point this morning that if Obama and the Democrats cared about this country, they would be insisting that both the Tea Party plans, the Ryan Balanced Budget and the Cut, Cap & Balance plans be put forward in the Senate immediately for a vote, with the full backing of Obama. Rush pointed out that if Obama and the Democrats didn't do this, or didn't come forward with a proposal of their own that actually qualified and met the credit ratings agencies $4 Trill - stop the reckless spending criteria debt concerns, then our worst fears would be confirmed. Our worst fears being that Obama and the Democrats are worse than mere incompetent socialist ideologues. That they are in fact out to destroy the goose that laid the golden egg: Constitutional Capitalism, American exceptionalism, and our God given right to life liberty and the pursuit of happiness that under-girds the extraordinary story of American prosperity. So Obama has a choice today. He either complies with the demands that the USA Government get it's finances in order by supporting the credit ratings approved Tea Party plans. Or, explain why his vision of a downgraded, prosperity bereft and indentured debt bound America is the way forward. Time to start demanding resignations. The fish rots from the head.
Gary Edwards

Google Reader - garylyn's shared items - 0 views

  •  
    Still experimenting with Google Reader "Shared Settings".  This is a public page of ALL my gReader items tagged "Shared".  Banksters is a sub group in this "Bundle".  
Gary Edwards

Google Reader - "Banksters" public tag collection - 1 views

  •  
    Google Reader is my primary tool for browsing news, articles and blogs.  This is a public page (with Atom RSS) to all gReader items tagged "Bankster".  Wish i could push my gBookmarks into Diigo, or, tag my gReader items with a Diigo Group/List/Comment.  Sadly though, it is increasingly hard for me to keep up my Diigo Groups when all the items bookmarked first show up in Google Reader!  Anyway, this public page is an experiment to get around the gap between gReader and Diigo.  A gap growing by the day.
Gary Edwards

How JP Morgan Took Over All Kentucky's Financial Services, And Why You Should Be Scared... - 0 views

  • Writing in response to the JP lawsuit on his Rolling Stone blog, Taibbi lamented that big banks were getting away with crimes that, when pulled off by blue-collar muscle outfits like the mob (and they are), result in lengthy jail sentences. Fraud on the part of JP Morgan and other corporate banks, he concluded, is “not going to stop until people start doing hard time for these crimes.”
  •  
    On July 1, JP Morgan Chase became the Commonwealth's bank. As the state's official depository, JP now receives all deposits, writes all checks and makes all wire transfers on the $12-15 billion that flow through Kentucky state government in the course of a fiscal year. It will cut payroll checks, receive federal and other funds earmarked for the state, and disburse educational or transportation or any other funds to their appropriate monetary endpoints. For its trouble, the bank will receive $1.3 million in state fees and the ability to re-lend idle state funds out to customers for private gain. Yes, you should be worried. JP's decade A global corporation with more than $2 trillion in assets and operations in 60 countries, JP Morgan Chase has been a major figure in the ongoing global financial crisis. As one of the largest private banks in the U.S., the bank made incredible amounts of money by underwriting many of the questionable loans (sub-prime, zero down, adjustable rate) that fueled the American housing bubble. It then made even more money by packaging hundreds of these shitty loans into a single "product," a mortgage backed security, which it sold like Twinkies to pious religious non-profits, filthy-rich hedge fund managers, municipal fire-fighters, retired auto-workers, and the like, each security effectively putting these groups on the hook-and not JP-for the shitty loans that it had helped create. When, inevitably, individual homeowners began to default on their loans, thereby triggering the stock market collapse of 2008, JP Morgan found a way to make money on that, too, by buying insurance (known as credit default swaps) on the shitty securities of shitty mortgages that it had sold to unwitting investors. For good measure, the U.S. government handed the corporation $25 billion in TARP funds, $30 billion in U.S. treasury backing to purchase bankrupt Bear Stearns (previously a global leader in mortgage backed securities), and the biggest chun
Gary Edwards

Jenkins: Obama vs. the 1980s - WSJ.com - 0 views

  • "World Tax Reform: A Progress Report," his 1988 volume showed how country after country was following the U.S. in adopting Reagan-style rate-flattening and tax simplification.
  • Mr. Obama now craves a federal infrastructure bank, apparently still unable to see how growth might emerge except by bureaucrats bossing around tax dollars.
  • Simpson-Bowles Commission—proposed a Reagan-style tax reform
  •  
    excerpt:  Instead of a "stimulus" to create jobs by financing useful investments that would have paid a growth dividend in the future, we got a debt-fueled permanent expansion of entitlements and the size of government. In health care, instead of reforms to encourage competent consumers not to treat health care as a free lunch, we got a doubling down on health-care free lunchism. In banking, instead of new incentives to cause creditors to pull in the reins on risk-taking banks, we got a formalization of too big to fail. All economic crises begin differently-this one began in housing-but eventually they morph into the same old crisis of forgetting what works. Think about the last big crisis of faith in American capitalism in the early 1980s. The panic was eventually crystallized in dueling Harvard Business Review articles by George Gilder and Charles Ferguson. Mr. Ferguson, an MIT-based consultant, argued the U.S was dooming itself to vassalage unless Washington brushed aside small, poorly-funded entrepreneurs and concentrated regulatory favors and subsidies on giant firms like IBM, AT&T, Digital Equipment and Kodak. Mr. Gilder championed the then-emerging Silicon Valley paradigm. He quoted technologist Carver Mead: "We depend on the innovations of the citizens of a free economy to keep ahead of the bureaucrats and the people who make a living on control and planning. In the long term, it's the element of surprise that gives us the edge over more controlled economies." Who won hardly needs to be belabored except that it apparently does need to be belabored. Almost everything Mr. Obama understands as pro-growth consists of bets on "bureaucrats and the people who make a living on control and planning."
Gary Edwards

Here's The Problem With This Market Crash... - 1 views

  •  
    Obama and the Federal reserve are out of bullets......... The only thing that will work is Cut, Cap and Balance - the TEA Party Patriot formula that passed the House during the run up to the Natioanl Debt Limit SCAM, only to be immediately tabled and discarded by the ruling elites in the Bankster, Democrat and Repubican establishment.  With 69% of the taxpaying public in support of the Balanced Budget Amendment, one would have thought the ruling elites would have shown a bit more respect for Cut, Cap & Balance.  What we got however was anything but.   In this article Long time liberal - big government - let me into the elite ruling class advocate Henry Blodgett looks into the chasm, wondering how to pull back from the brink impending disaster. excerpt:  there are also several very important differences between this market crash and the ones a few years ago: ........... The Fed has fired most of its bullets (interest rates are already at zero) ............. Our budget deficit is already out of control, and Congress has had it with "stimulus" ............... The public has had it with bailouts That means the government's ability to do anything about this market crash is severely limited. Yes, we'll almost certainly have a "QE3." And maybe that will prop things up a bit. But it won't fix the fundamental problems clogging the economy, just as QE1 and QE2 didn't permanently fix anything. (The only thing that will fix our economy is debt-reduction, discipline, and time.)............
Gary Edwards

Government Spending in United States: Federal State Local 2011 - Charts Tables History - 0 views

  •  
    Complete breakdown of Federal Budget and Government Spending.  Includes history and charts for everything.  Covers Federal, State and Local spending / deficits /debt.  Incredible compilation!
Gary Edwards

The New Debt Deal: Why States Will Get Whacked & Musings on the Bush Tax Cuts - Budget ... - 0 views

  •  
    excerpt: "Well friends it's August 3, and despite their best efforts Congress and the President did finally pass a deal to raise the debt-ceiling. It's call the Budget Control Act of 2011. Happy days, right? Not so fast, Fonzarelli. Nearly every lawmaker who voted for the bill has described it as the legislative equivalent of a '87 Buick Wagon: not pretty, but it'll get you to work. Here in the halls of the National Priorities Project we've been mulling over the details of the plan extensively, which you can read about here and here. After looking at this stuff for 2 straight days, my reaction to the Budget Control Act (debt deal) can summed up thusly: Picture of the statue of Liberty sticking out of the sand, from the last scene in the movie, "Planet of the Apes".  Caption "...we finally, really did it." In exchange for raising the debt-ceiling by an initial $900 billion, the bill calls for an immediate $917 billion in cuts through discretionary spending caps over the next 10 years.* Raising the debt-ceiling further - which will need to happen next year - is contingent upon further savings to be identified by a new bipartisan commission: the "Super Committee, or "Super Congress" it's being called. This group of 12 lawmakers (6 Democratic, 6 Republican Senators & Representatives) will have to identify another $1.2 - $1.5 trillion in deficit reduction measures by November 23, 2011. Congress will also be required to have an up-or-down vote on the recommendations by December 23, 2011. This means after the Super Committee makes its recommendations there will be no further discussion, debate, or filibustering. Just an aye-or-nay vote in each chamber of Congress.
Gary Edwards

We The Stupid - Ann Barnhardt on the National Debt Ceiling SCAM - 0 views

  •  
    If your angry over the National Debt Ceiling Scam, you're not alone. Ann Barnhardt is fist pounding furious. And with good reason. This is going to be a long battle. One thing i do disagree with her on though is where Obama will borrow the money to fund the $2.4 Trillion debt increase. She's right that no country in the world has $2.4 Trillion to lend us. But the Banksters have plenty! Two weeks ago the GAO released the results of the first time ever inventory of the Federal Reserve Bankster Cartel. They found that the FRBC had created $16.1 Trillion of our money between 2009 and 2010, and passed that money to member Banksters, international Bankster associates, and too-big-to-fail Wall Street gamblers; at near zero percent interest. Combined with the the US TARP bailout, and the AiG - Fannie Mae - Freddie Mac bailouts, the total cost of converting Bankster debt to USA Taxpayer debt tops out at over $23.4 Trillion. The Banksters are flush with dollars, but what are they going to invest in? It's said that the Federal Reserve owns somewhere between 70%- 80% of the US Treasury issued debt. The way this happens however is that the Federal Reserve first "lends" (at near 0%) created dollars to member Banksters. Then the Banksters purchase the Treasuries at 3.25% and up depending on the payout period per note. In effect, American Taxpayers get to borrow back their own money while paying the Banksters a hefty, risk free handling fee of at least 3.25%. So, with $16.1 Trillion sloshing around, and not much too invest in, the Banksters really need Obama to borrow $2.4 Trillion, and spend a whole lot more. At some point this ponzi scheme will collapse, but not today. Least ways not until the Banksters can launder that $16.1 Trillion freebi. My guess is that the Banksters would like to turn the $16.1 Trill into 3.25% bonds, and then into land, indentured tax obligations (inter-generational), and investments in debt free third world countries - where the
  •  
    "- where the game of new world order begins anew. Jaded, cynical, but very much awake and aware...... ~ge~" Sorry, Diigo truncated the comment but only for the Group "End of the American Dream" post. My bookmark actually has the entire comment. Very strange, and i think it's something that might be reported to Maggie. What i have found out is that if you use the diigo plug-in, your comments will be unexpectedly truncated. I've lost losts of stuff over the years. Then i switched to the Chrome plug-in "Share This". There is no truncation, except in the Group view of a post!!! So, the question for Maggie is, "Why are the Group comments to a bookmark unexpectedly truncated?"
Gary Edwards

‪Ask the President: What are you going to do with $181 Billion Dollars if you... - 0 views

  •  
    President Obama, what exactly will you choose to pay? What are your priorities?  Excellent YouTube video explaining the National Debt Ceiling SCAM!  (Many thanks to uber Patriot Frank A. for the link).  Great graphics, and the end sequence is perfect!! The graph is meant to visually demonstrate just what was stated in the video... That after obligations like Social Security, Medicare, Military, Air Traffic Control, and existing debt management are met, there is still another 17 billion left over.  Meaning the aforementioned services are being threatened at the President's own discretion. The politics are thick here, with both the Federal Reserve and the Treasury Department full participants in the political scam.   The question remains, if Obama is not going to meet those debt obligations outlined in the graph, WHAT IS HE GOING TO DO WITH THE $181.1 Billion in MONEY that comes into the Treasury this August?
Gary Edwards

So Who's Up For A Round Of Messenger-Shooting? | RedState - 0 views

  •  
    The US Government will continue to borrow over $100 Billion per month.  Thanks to the grand borrowing plan, the ruling class assures us that spending cuts for 2012 will total $7 Billion (for the year).  2013 is whopping $2 Billion.  What a deal!!!  It's convert to GOLD or kiss it goodbye time my friends. excerpt:  The prospect of having S&P downgrading US debt has politicians scrambling to prevent such a Bonfire of The Keynesians. To forestall the coming horror, they worked tirelessly to pass a Balanced Budget Amendment, means test entitlement programs, close unnecessary military bases which were doled out as Congressional Pork, and repealed ObamaCare to the ringing cheers of small businesses all over America. Pysch! No they didn't. They immediately mounted a rhetorical assault against S&P for having the temerity to question the creditworthiness of an organization that has borrowed $5Tr dollars in the past five years, seen a precipitous and enduring decline in its corporate revenues, and has failed to fashion an acceptable long-term budget in the last 800 days. If a broker told me to buy lots of stock in some private corporation that tried that crap I'd hang up the phone on that individual without any further comment. S&P put it more politely when they said the following. "We view an inability to timely agree and credibly implement medium-term fiscal consolidation policy as inconsistent with a 'AAA' sovereign rating." So the United States government has failed to pass a budget for 800 days. We have increased our national debt from $9Tr to $14Tr in the very recent near-term. Our President has recommended a budget that would have raised this indebtedness to $25Tr over the next ten. It's a genuine shame we aren't giving these people more revenues. They manage what we do give them so well.
« First ‹ Previous 761 - 780 of 1106 Next › Last »
Showing 20 items per page