moonlightcowboy's WunderBlog

Deeper message from Cambridge

By: moonlightcowboy, 3:17 PM GMT on July 25, 2009

In light of this week's inexcusable slip of the tongue when Obama said the Cambridge policeman "acted stupidly", it is revealing more about Obama's past and his association with more anti-American hate-mongering radicals. Obama, without a teleprompter or Rhambo's direction, is vulnerable and shows his very obvious left-wing, radical volitions; and therefore, the path he plans to steer the country into socialicism through government nationalization of healthcare, etc. I guess Sgt. Crowley is about about to have a beer with two fellas that can tell him what he did wrong! ;)

"I'll speak with your mama outside," - Harvard prof told Cambridge cops

Here is a link to the full police report. It is highly damning of Gates, so much so that the ultra-liberal Boston Globe first posted it on their website, then, realizing how bad it made Gates look, later took it down to protect Poor Henry Gates: LINK



(L-R) W.E.B. Du Bois, Professor Henry Louis Gates, Sgt. James Crowley, Obama with Cornel West, Louis Farrakhan, Jeremiah Wright and Malcolm X.

Turns out this arrested Cambridge professor Gates that The Messiah claims is his friend is the "director" of the W.E.B Du Bois Institute at Harvard. I can not verify if Obama actually attended this institute in any form while he was at Harvard (since Obama refuses to release his college transcripts), but apparently by his own admission as Gate's "friend" he at least knew him or came to know him. Gates' mission has been to immortalize Du Bois, an avowed communist and socialist sympathizer. Du Bois was for a brief time a member of the Socialist Party. In 1927 he infamously traveled to the USSR, where he called the Soviet system "the most hopeful vehicle for the world." LINK So, you can see the core foundations of the institute are not particularly pro-American!

Still, this story goes further. Turns out that Gates cultivated black radicals to his race studies department, most prominently bringing in Cornel West, a controversial adviser on Louis Farrakhan's Million Man March with close ties to socialist and black extremist groups. West is a declared personal friend of Farrakhan.

And, that's not all - Gates and West authored two books together. And, West was also a long-time member and honorary chair of the Democrat Socialists of America. West served on the black advisory board of Obama's presidential campaign. West is reported as an admirer of "the sincere black militancy of Malcolm X, the defiant rage of the Black Panther Party - and the livid black [liberation] theology of James Cone."

Cone's theology spawned Rev. Jeremiah Wright, Obama's controversial pastor for 20 years at the Trinity United Church of Christ. West was a strong defender of Wright when the pastor's extreme remarks became national news during last year's campaign season.

So, now we know how Obama came to be a 20-yr member of the "God Damn America" Trinity Church - through his associations with Gates and West. And, that means that Obama's relationship with Wright was much more deeply rooted in American hate-mongering than just his attendance in the church and points at the beliefs and teachings of W.E.B Du Bois, Gates and West!

It will be interesting to see if the liberal, state-run main stream media will dig a bit futher into the elements underneath this story and bring them to the forefront. I suspect this will occupy all of the weekend news shows and talk-radio well into next week, clearly something the adminsitration would have rather avoided. This was a big step in the wrong direction for Obama's healthcare message. He lost a lot of personal capital and legislative leverage with a tongue-slip from his arrogant and narcisstic personality. This could very well derail the healthcare bill and quite possibly even his bid for a second term.

"There is a class of colored people who make a business of keeping the troubles, the wrongs, and the hardships of the Negro race before the public. Having learned that they are able to make a living out of their troubles, they have grown into the settled habit of advertising their wrongs-partly because they want sympathy and partly because it pays. Some of these people do not want the Negro to lose his grievances, because they do not want to lose their jobs." - Booker T. Washington


SPECIAL NOTE: This blog will NOT tolerate personal attack remarks of any kind. Accusations of racism towards myself and any others will result in an immediate and permanent ban without warning. This blog is simply reporting the related facts - nothing more, nothing less.


HIGHLY RECOMMENDED READING: Sebastionjer's blog - "Life Is Not A Theory!" and GetReal's blog - "Obama Healthcare Truth"

U.S. may need another $250,000,000,000 stimulus - Roubini
"It might be in the $200-$250 billion range -- not too small, not too big," he added. But if the next stimulus is too large, Roubini warned, financial markets would start to get worried about U.S. fiscal sustainability, with "severe" negative consequences for bond markets.

Junk message in a bottle?
Please help DEFEAT CAP & TRADE in the US Senate here!

BLOG RULES: Simple - Keep it absolutely civil towards fellow bloggers. And, don't get heavy on the partisanship - it's quite obvious that corrupt, petty, inept, greedy, power-lustful politicians are plentiful on both sides of the aisle. It's ok to take jabs at them - either party, any official or candidate; but, leave the total "blame game" out of this - it's ALL of them, everyone! If you think otherwise, then you probably don't want to bring it in here! Links or statements in this blog by me are generally backed by valid links unless it is a post of perspective. Newcomers are welcome to this blog but are scrutinized more heavily with their conjecture and perspective until I discern the nature of their posting habits. Regulars have more leeway even with large and differing opinions, provided their posts are not made with any personal attack or such innuendo. Otherwise, those who have not proven themselves to me (and that's all that matters) may be considered pot-stirrers, trolls or ban circumventors and are subject to being banned without warning. The ban may be relieved at anytime at my discretion pending review of the blogger's posting history and perspective in other blogs - should I see them.

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"Doodie" & Buffalo Nickels

By: moonlightcowboy, 3:09 AM GMT on July 17, 2009



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Yes, that's a bit extreme, but it paints the proper picture. Simply put, we can't keep spending like we are. It's already past the point of sustainability. It can't continue.

U.S. may need another stimulus - Roubini

A leading economist says the economy will need another jolt to the tune of $200 billion to $250 billion.

NEW YORK (Reuters) -- The United States may need a second fiscal stimulus worth $200 billion to $250 billion to support labor markets, leading economist Nouriel Roubini said Thursday, adding the worst of the crisis is already behind us.

Roubini, chairman of RGE Global Monitor and one of the few economists who foretold much of the current global financial turmoil, said he expects U.S. unemployment will top 10 percent by the end of 2009, weighing on domestic consumption and the retail sector. "I think we may need in fact a fiscal stimulus some time early next year or before the end of this year," he told reporters after delivering a speech at an event organized by the Chilean government in New York.

"It might be in the $200-$250 billion range -- not too small, not too big," he added. But if the next stimulus is too large, Roubini warned, financial markets would start to get worried about U.S. fiscal sustainability, with "severe" negative consequences for bond markets.

Junk message in a bottle?

Please help DEFEAT CAP & TRADE in the US Senate here!


Simple - Keep it absolutely civil towards fellow bloggers. And, don't get heavy on the partisanship - it's quite obvious that corrupt, petty, inept, greedy, power-lustful politicians are plentiful on both sides of the aisle. It's ok to take jabs at them - either party, any official or candidate; but, leave the total "blame game" out of this - it's ALL of them, everyone! If you think otherwise, then you probably don't want to bring it in here!

...see ya 'round the blogosphere! Have a good one!


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Junk message in a bottle?

By: moonlightcowboy, 2:38 PM GMT on July 13, 2009

"Smooth evolutionally development" - that was the term used last week at the G8 Summit by Arkady Dvorkovich, the Kremlin's top economic advisor about pressing forward to adopt a new world currency away from the USD. Considering that the US Treasury has been selling record amounts of notes dictated by our enormous appetite for deficit spending, many countries but specifically BRIC have repeatedly voiced calls for adopting a more global currency, claiming the USD is no longer as safe as it has been due to trillion-dollar deficits and a shrinking economy.

Surprisingly, the air amidst the Italian summit initially indicated that the summit would not be the proper forum for a new world currency discussion. But, guess what? That didn't last long as China once again took advantage of the media stage and made its intentions more abundantly clear - it wants a new currency, but the Pearl Kingdom is careful and steady with its pressure, considering nearly $2,000,000,000,000 (70 percent) of its official reserves are in the USD.

Just a mention of new world currency discussion seems to gently rock financial markets. Obviously, the USD is still the most important currency in the world, but many, specifically China has been recently lamenting that the world has depended too heavily on the USD, greatly contributing to the financial crisis. So, just what is this "message in the bottle" that China is trying to float around the globe? That the USD is on the way out? Well yes, it's something like that - it's a bit more complicated; but certainly, that is part of the message.



China's domestic economy is growing too. It invested heavily in its people when the financial crisis struck and it's led to China's people consuming more. And, China continues to promote its infrastructure, only a bit more conservatively now. The fast growing economy was recently adding a new coal-fired energy plant at the rate of one per week. And recently, for the first time ever China surpassed the US in auto sales through June.

China wrestled the new-car sales crown from the U.S. through the first half of the year, topping 6 million cars and trucks at a time when the long-time global sales leader grapples with historic declines. Vehicle sales in China jumped 36.5% in June from a year ago to mark the fourth straight month that vehicle sales have topped 1.1 million units, according to data released by the China Association of Automobile Manufacturers on Thursday. Analysts forecast the U.S. market to potentially fall short of the 10 million-vehicle mark while China's industry group is looking for sales in its country to move past 11 million cars and trucks by the end of the year.

With sales are still tough to come by in the U.S., Detroit automakers have looked to cash in on the growth in China. Sales for bankrupt General Motors Corp. (GMGMQ 1.15, +0.31, +37.40%) jumped 38% during the first six months to a record 814,442 cars and trucks. Ford Motor Co. (F 5.72, +0.09, +1.60%) saw a 14% increase to 197,212 vehicles.

"China's vehicle market continued to outpace most expectations for growth," head of GM China Group Kevin Wale said last week. "The market benefited from stimulus policies adopted by the Chinese government as well as growing demand for personal transportation in tier-three and tier-four cities and rural areas." This rise is being credited to a minor tax break from the government on certain types of cars. The more likely reason for the sales increase is low production costs and little competition in the lower price auto market. China and India are becoming capitalistic and basically beating us at what used to be our game (capitalistic production).




That all helps China in the interim; but, what happens when its exports continue to contract? Unlike China, the US has to borrow in order to meet the demands. The US is borrowing more than it ever has and considerably more since Obama took office. All of that has speeded China's concerns of the USD. It believes the IMF (International Monetary Fund) is going to have to eventually adopt a new form of world currency called "SDRs (special drawing rights). This new currency would be based on a variety of currencies with gold likely as its centerpiece.

China, with its three billion people, has done more than just "emerge" as a world economic power with its vast exports - it has effectively become a (if not the largest) creditor nation. That means it no longer has to primarily lookout for its exports, but because of its deep volume of world currency reserves (especially USD) it also now has to look out for the value of those earnings. And, that's what the Chinese have realized. The see the enormous debt the US is exponentially accumulating and that see that as a huge inflation factor. And, inflation will devalue their holdings. So, it's in a "catch 22" so-to-speak. It wants US trade to feed its export economy, but has to be careful continuing to buy treasuries that may be worth less with increasing US inflation. So, with Treasury selling all those notes, we've seen less interest in the long-term 30-yr notes and even some lackluster interest in the short-term notes. Consequently, the Federal Reserve has picked up the slack, buying our own bonds, ultimately creating a solid argument for inflation.



Yet, the selling of these notes remains considerable.

The US government is broke and getting more broke by the day. (LINK) California is issuing IOUs. The deficit is pushing US$2-trillion. Unemployment is soon to hit 10%. Profit expectations are not too high. Yet still, day after day, week after week, month after month, foreign investors buy U.S. treasuries. This week, in fact, they bought about US$100-billion worth of U.S. government debt. So, on and on it goes. Have these investors made any money this year? Not likely. The U.S. currency is down slightly on the year compared with a basket of six currencies (but down sharply from March). Bond prices have also fallen sharply this year with the back up in interest rates on renewed inflation fears. In fact, if your timing of bond purchases was wrong this year, it is quite possible that you have already lost in price and currency more than what you might receive in interest payments over the next 10 years.

Thus, the average foreign investor has most certainly lost money on this investment. Now, I am not sure about you, but for most investors when they lose money they are

(a) not happy and
(b) unlikely to invest more in the same security.

It is part (b) that makes things interesting. That's because the U.S. government, after having sold US$705-billion in debt last year, will (and must) sell US$2.041-trillion in new debt this year. In fiscal 2009, the U.S. government must find buyers for almost three times the debt that was issued last year. As the lender of last resort, the Fed has been a net buyer of US$280-billion in U.S. debt in the first half of the year. Quantitative easing has started with a vengeance, the printing presses have started. And once they start, they are next to impossible to stop.

At this stage of the economy, if the Fed reverses quantitative easing and starts selling bonds it owns, it will only increase the amount of buying others must do. As we have pointed out, though, other buyers are hardly in a position to buy what's needed already. What's worse, if the Fed reverses course, other buyers will see a very large, fully-informed seller hit the market, and will all try and head for the exits at once - then we will have serious trouble, so much so that it will make 2008 look like a cakewalk.


So, where does that leave us? Not in a desperate position in the short-term, but certainly with a growing respect for the changing global financial landscape. Other nations buy U.S. debt as well because it has seemed to be the best investment - and it has been, prior to the exponentially increasing debt and a "melting" if you will of world trade and policy. For emerging countries to bring themselves up out of economic doldrums it almost seems to dictate a regression of US prosperity - an equaling of standards of living. And, even if a new currency is adopted, it doesn't mean that the US is going away any time soon. We're not. But, the US has to take prudent actions to successfully restore its global esteem, certainly economically. None of that changes "overnight" - it is the "smooth evolutionary development" that Dvorkovich states that is more likely to transpire.

One thing is truly certain of the old golden rule - "He who has the gold rules!" Right now, China has the gold and the control. It is leading the way to adopt a new basket of goods to adopt a world currency that will safeguard its USD holdings. In the meantime, they'll continue to make sure that they don't hurt the value of the dollar any more than they have to - a strong dollar is in their best interest, at least until they are able to safely unload them. And, they'll do this by gradually buying as many natural resources as they can around the world with our dollars and by buying as many US assets as they can as well. Nonetheless, the USD as a world currency is at an impasse, crossing the rubicon of being the single global economic leader of the world.

As we head in this inevitable direction, let's hope the US fully understands the "message in the bottle" is not junk - and is able to once again finds its financial sea legs and perpetuate its economic and diplomatic prosperity.

Please help DEFEAT CAP & TRADE in the US Senate here!


g> Simple - Keep it absolutely civil towards fellow bloggers. And, don't get heavy on the partisanship - it's quite obvious that corrupt, petty, inept, greedy, power-lustful politicians are plentiful on both sides of the aisle. It's ok to take jabs at them - either party, any official or candidate; but, leave the total "blame game" out of this - it's ALL of them, everyone! If you think otherwise, then you probably don't want to bring it in here!

...see ya 'round the blogosphere! Have a good one!


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BIG & UGLY returns

By: moonlightcowboy, 9:53 AM GMT on July 10, 2009

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BONUSES ARE BACK AT FLAILING AIG

American International Group can't seem to do anything right in its born-again life -- as its just-consolidated stock steadily loses value, news comes that the beleaguered company is preparing to pay out another $2.4 million to several dozen executives.

Bailed-out AIG caused a furor in mid-March when it paid out more than $165 million in taxpayer money as executive bonuses. Just a week after its anemic $1 stock was repackaged to make a $23 stock -- by swapping 20 shares for one -- AIG has lost most of the gains from its desperate reverse split, which was supposed to create deal-making currency.

Investors stampeded for the exits yesterday to push shares down 28 percent in the worst rout of a weeklong dump. The selloff -- 12 times the usual daily volume -- came after Citigroup analysts said AIG probably will have no value left after being bailed out four times by Uncle Sam, or a "70 percent chance the equity is zero."

CreditSights said AIG executives are bungling almost all their asset-sale deals to pay back government loans in the $182.5 billion rescue. The report said AIG's "flurry of asset sale activity" produced a single sale whose "proceeds have barely made a dent in repaying the government." AIG, the report said, is likely using the cash elsewhere, such as paying for AIG's legal tab trying to seize $5 billion from former chief Hank Greenberg, a case it lost in federal court but still is pressing in state court.




Please helf DEFEAT CAP & TRADE in the US Senate here!


g> Simple - Keep it absolutely civil towards fellow bloggers. And, don't get heavy on the partisanship - it's quite obvious that corrupt, petty, inept, greedy, power-lustful politicians are plentiful on both sides of the aisle. It's ok to take jabs at them - either party, any official or candidate; but, leave the total "blame game" out of this - it's ALL of them, everyone! If you think otherwise, then you probably don't want to bring it in here!

...see ya 'round the blogosphere! Have a good one!


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The views of the author are his/her own and do not necessarily represent the position of The Weather Company or its parent, IBM.

moonlightcowboy's WunderBlog

About moonlightcowboy

"There is no heavier burden than a great potential." - Charles Schultz, in the Peanut's character of Linus.