Monday, February 28, 2011
Which brings up a point from today's international news: Libya's dictator Gadhafi, who has a reputation for deceit surpassing perhaps even that of our own politicians, was dead on right today about one thing. He questioned our own president Obama's right to meddle in the affairs of other nations.
For one thing, Gadhafi said Obama was certainly misinformed about the situation in Libya and should stick to his own problems at home. Knowing what we know about the unreliability of our CIA and State Department, it is a fair bet that Obama is misinformed and has no "exit plan" for what will come after Gadhafi. Bad mouthing Gadhafi and freezing his assets may just allow Islamic extremists more opportunity to take over. And why is Obama now complaining about Gadhafi's human rights violations that have been going on throughout Obama's various terms in office? Is Obama just indulging in a case of piggy pile on? And for what purpose?
For another thing, and, with a real sense of sound geo-politik, as well as international law, Gadhafi reminded the "America is not the international police of the world." There we can see the stopped clock at high noon, right-on with a truth that has escaped most American foreign policy experts--we are not so Holy or brilliant that we can tell everyone else what to do. And even if we were, would it pay to antagonize everyone with our self righteous bossiness?
Obama projects the same arrogance as the far left intellectuals who always see fit to tell even us Americans what we can and cannot do. Give Gadhafi credit--he called Obama out about his sophmoric meddling in foreign affairs. If there is a reason we are not loved around the world, the blame maybe should be born by the intellectual theorists that run our foreign policy as if they were Gods on high. Results in Libya may show they have clay feet.
Monday, February 21, 2011
February 21, 2011
The latest news out of Washington indicates that our fearless leaders have not let the recent financial meltdown lessen their affection for Ponzi-type schemes. It may be recalled that the 2009 stimulus act saw the federal government lending the most bankrupt state governments billions of dollars to postpone their imminent financial crises. The loans were interest free for two years and "easily" financed by the feds because they can just print money as needed!
However, on this past December 31 the two years were up, 30 states owed $42 billion, with interest now accruing, and their resident businesses faced with increased mandated federal payroll taxes to help repay the loans. It appeared that the Ponzi scheme might unravel. The states are too broke to make any substantial repayment, and the Administration is leery of hiking taxes on the beleaguered business community. So, a tough and courageous decision was called for. Guess what we got?
The apparent "solution" will apparently come in President Obama's 2012 budget where he will propose waiving the tax increase and postponing the interest charges for two more years. Presumably he could also lend them more money and defer repayment till some future undesignated date. Thus the money tree at the Federal Reserve takes on the State deficits as well as the federal deficits. The problem is thus postponed, true to its Ponzian roots, and the escalating debt will only come home to roost at some future time.
We can only hope that some intrepid, brilliant, and unscrupulous Goldman Sachs employee will accumulate these "sub-prime" notes, securitize them, and sell them to the Chinese. Otherwise they will not go away quietly.
Wednesday, February 16, 2011
Recent events have revealed the huge disparity between what our leaders say in speeches and what they actually do behind closed doors. While president Obama has been giving speeches about helping business, removing restrictions, and encouraging entrepreneurs, his appointments within the federal bureaucracy are doing the opposite.
The New Bedford Standard Times featured an editorial today that illustrated how even such a Democratic stronghold is getting the shaft from the Obama administration. Columnist Jack Spillane directed a spotlight on the Department of Commerce and its National Oceanic and Atmospheric Administration, documenting how “the Commerce Department‘s NOAA has become a wholesale arm of the environmental lobby under Obama.” He writes, “Unbelievably, the president appointed Jane Lubchenco, the former vice-chair of the Environmental Defense Fund, to head all of NOAA.” Spillane observes that the Commerce Department’s mission is to help business, but that it is not staffed by people from the aerospace, ocean, or marine business or scientific communities, but instead by extreme environmentalists.
Spillane reports that Obama has “packed the Commerce Department to the gills with former lobbyists for the environmental community.“ And, he gives the evidence--it isn‘t just the top job: Lubchenco’s director of policy and senior advisor is Sally Yozell, the former director of Marine Conservation for the Nature Conservancy’s eastern region. And her second in command, Monica Medina, is a former advisor for the Pew Environmental Group, a former lawyer for the EDF, and former head of the Justice Department‘s Environmental Division.
And, it gets worse: Monica Medina is married to Joe Biden’s Chief of Staff, Ron Klain, who was before that chief of Staff to environmental-whacko Al Gore. Columnist Spillane calls it a revolving door that has allowed the environmental lobby to become entrenched in every nook of our government, and blames “Obama himself who stacked NOAA with the powerful environmentalists who, by their own words, want to put small business fisherman out of business.” He also points out that Senator John Kerry “has certainly not tried very hard to stop it,“ because his primary allegiance is to his rich wife Teresa who uses her tax exempt Foundation‘s millions to bankroll most of the big national environmental groups.
It is a fair bet that all those appointees are not just activist members of the environmental movement, but have a few other things in common. They all probably were top students with high IQ’s and good college records. And their combined actual business experience is probably next to nothing. They are the well-educated, abstract-thinking, new Ruling Class that has taken over the levers of power in Washington. They love complex theories that don’t work and deficits that bankrupt us. They promote themselves to the best colleges and jobs by shilling their big brains. I call it “A conspiracy of the Egg-Heads” and it is destroying America.