Tag: Conservative
On Culture11.com’s Demise
This is Jack Hunter A.K.A. The Southern Avenger Interviewing Richard Spencer from Taki’s Magazine on the demise on Culture11.com.
(H/T Jack Hunter)
Whoops! Republican Representive Blows Security Cover
Um, Ooops!
A congressional trip to Iraq this weekend was supposed to be a secret.
But the cat’s out of the bag now, thanks to a member of the House Intelligence Committee who broke an embargo via Twitter.
A delegation led by House Minority Leader John A. Boehner , R-Ohio, arrived in Iraq earlier today, and because of Rep. Peter Hoekstra , R-Mich., the entire world — or at least Twitter.com readers—now know they’re there.
“Just landed in Baghdad,” messaged Hoekstra, a former chairman of the Intelligence panel and now the ranking member, who is routinely entrusted to keep some of the nation’s most closely guarded secrets.
Before the delegation left Washington, they were advised to keep the trip to themselves for security reasons. A few media outlets, including Congressional Quarterly, learned about it, but agreed not to disclose anything until the delegation had left Iraq.
Nobody expected, though, that a lawmaker with such an extensive national security background would be the first to break the silence. And in such a big way.
Not only did Hoekstra reveal the existence of the lawmakers’ trip, but included details about their itinerary in updates posted every few hours on his Twitter page, until he suddenly stopped, for some reason, on Friday morning.
Since it’s already a matter of public record, here are some of Hoekstra’s twitter dispatches, typos and all, delivered in just 140 characters or less:
“On the way to Andrews Air Force base.12 hour flight to mid east. Be back on Mon instead of tues. Votes mon. I’ll keep you posted,” he wrote on Feb. 4
In his last dispatch today, he wrote: “Moved into green zone by helicopter Iraqi flag now over palace. Headed to new US embassy Appears calmer less chaotic than previous here [sic].”
via CQ Politics | Congressman Twitters an Iraq Security Breach.
Had a Democrat done this, Michelle Malkin would have went into meltdown mode. Heckuva Job Pete! 🙄
(speaking of “Whoops!”… Corrected stupid grammar error… D’oh!)
Frum makes a good point
For a change, I agree with this guy. (Mark your calendars, it does not happen often!)
The first is that the social and cultural basis of American conservatism remains very much alive and active. Conservatives may have lost their majority, but that is not the same thing as disappearing outright.
The second is that conservative ideas continue to be relevant – and will soon re-emerge more relevant than ever. The current US administration and congressional majority seem determined to forget every economic lesson learned in the years since 1966. They are rapidly expanding social spending in the name of “stimulus.” They are redirecting investment from high productivity to low productivity uses in pursuit of “green jobs.” They are toying with “buy American” protectionism while repudiating “hire American” enforcement of immigration laws. They are so eager to restore the dominant liberalism of the 1930s that they cannot see that they are repeating their own errors of the 1970s.
via The New Majority.
I hate to say it. But Frum’s right on the money there.
Japan could serve as a lesson to the United States
Barack Obama could learn a lesson from Japan. There’s a very good article in the New York Times today, on the mistakes made by the country of Japan in the 1990’s to fix their failing economy:
The Hamada Marine Bridge soars majestically over this small fishing harbor, so much larger than the squid boats anchored below that it seems out of place.
And it is not just the bridge. Two decades of generous public works spending have showered this city of 61,000 mostly graying residents with a highway, a two-lane bypass, a university, a prison, a children’s art museum, the Sun Village Hamada sports center, a bright red welcome center, a ski resort and an aquarium featuring three ring-blowing Beluga whales.
Nor is this remote port in western Japan unusual. Japan’s rural areas have been paved over and filled in with roads, dams and other big infrastructure projects, the legacy of trillions of dollars spent to lift the economy from a severe downturn caused by the bursting of a real estate bubble in the late 1980s. During those nearly two decades, Japan accumulated the largest public debt in the developed world — totaling 180 percent of its $5.5 trillion economy — while failing to generate a convincing recovery.
Now, as the Obama administration embarks on a similar path, proposing to spend more than $820 billion to stimulate the sagging American economy, many economists are taking a fresh look at Japan’s troubled experience. While Japan is not exactly comparable to the United States — especially as a late developer with a history of heavy state investment in infrastructure — economists say it can still offer important lessons about the pitfalls, and chances for success, of a stimulus package in an advanced economy.
The Lesson to be learned here is:
“It is not enough just to hire workers to dig holes and then fill them in again,” said Toshihiro Ihori, an economics professor at the University of Tokyo. “One lesson from Japan is that public works get the best results when they create something useful for the future.
But the real lesson to be learned here is the follow and pay special close attention to what is said here:
In the end, say economists, it was not public works but an expensive cleanup of the debt-ridden banking system, combined with growing exports to China and the United States, that brought a close to Japan’s Lost Decade. This has led many to conclude that spending did little more than sink Japan deeply into debt, leaving an enormous tax burden for future generations.
Gee, is that not what Ron Paul said ALL ALONG, while he was running for President of the United States? For Ron Paul’s troubles and hard work he was slandered, maligned and marginalized by the Neo-Conservatives who hated him and the Liberal Democrats who were sacred to death of him.
I highly suggest that you read the rest of this article. The United States could learn much from this lesson that Japan had to learn. We could very well end up causing more harm than good to our economy.
Others: Glenn Thrush’s Blogs, Hot Air, A Blog For All, Cafe Hayek, Weekly Standard and QandO
The Politics of fear again
It seems that President Obama is taking a cue from now former President Bush. Seeing that his so-called and very much pork laden “Stimulus Package” is losing support, Obama took a cue from President Bush and proceeded to publish his speech that he gave yesterday, about the stimulus.
Cue the fear mongering!:
By now, it’s clear to everyone that we have inherited an economic crisis as deep and dire as any since the days of the Great Depression. Millions of jobs that Americans relied on just a year ago are gone; millions more of the nest eggs families worked so hard to build have vanished. People everywhere are worried about what tomorrow will bring.
Because each day we wait to begin the work of turning our economy around, more people lose their jobs, their savings and their homes. And if nothing is done, this recession might linger for years. Our economy will lose 5 million more jobs. Unemployment will approach double digits. Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse.
[….]
In recent days, there have been misguided criticisms of this plan that echo the failed theories that helped lead us into this crisis — the notion that tax cuts alone will solve all our problems; that we can meet our enormous tests with half-steps and piecemeal measures; that we can ignore fundamental challenges such as energy independence and the high cost of health care and still expect our economy and our country to thrive.
I reject these theories, and so did the American people when they went to the polls in November and voted resoundingly for change. They know that we have tried it those ways for too long. And because we have, our health-care costs still rise faster than inflation. Our dependence on foreign oil still threatens our economy and our security. Our children still study in schools that put them at a disadvantage. We’ve seen the tragic consequences when our bridges crumble and our levees fail.
Every day, our economy gets sicker — and the time for a remedy that puts Americans back to work, jump-starts our economy and invests in lasting growth is now.
Wow, Hey Barry, how about 43% of tax paying Americans think that your so-called stimulus bill is a steaming pile of crap; Not just the elitists in Washington D.C., but the rest of America! You know, like the one’s in Kentucky, that are freezing to death? You know, the white conservatives, that didn’t vote for you, because they saw through your stupidity, lies and bullshit? You know, the one’s that you have basically ignored?
Nice try Barry, but your imitation of George W. Bush is quite piss poor.
Others: (Colored according to thier politics): PostPartisan, Townhall.com, The Campaign Spot, Michelle Malkin, Washington Monthly, The Opinionator, The Huffington Post, The Swamp, TalkLeft, Boston Globe, Don Surber, Reason, The Hill’s Blog Briefing Room, TIME.com, AMERICAblog News, The Mahablog, Commentary, The Corner, The Foundry, AmSpecBlog, Gateway Pundit, D-Day, Riehl World View, Fox News, Soccer Dad, The Plum Line, EconoPundit, Economist’s View, Conventional Folly, American Power, Bark Bark Woof Woof, Corrente, The Washington Independent and ECHIDNE OF THE SNAKES
(Via Memeorandum)
Senate seeks to Revise Stimulus Bill
This is an encouraging sign:
Senate Democratic leaders conceded yesterday that they do not have the votes to pass the stimulus bill as currently written and said that to gain bipartisan support, they will seek to cut provisions that would not provide an immediate boost to the economy.
The legislation represents the first major test for President Obama and an expanded Democratic Congress, both of which have made economic recovery the cornerstone of their new political mandate. The stimulus package has now tripled from its post-election estimate of about $300 billion, and in recent days lawmakers in both parties have grown wary of the swelling cost.
Moderate Republicans are trying to trim the bill by as much as $200 billion, although Democrats working with those GOP senators have not agreed to a specific figure.
The Senate’s first vote on a stimulus amendment, a failed effort yesterday to add more infrastructure spending to the package, signaled the change in course. For weeks, the measure has grown to meet a worsening economic crisis with the largest possible infusion of government cash. Despite warnings of dire consequences if Congress does not act boldly, Republicans have become resolute in their opposition to what they view as runaway and unnecessary spending in the legislation. And as the total in the Senate version climbs to $900 billion, unease also is stirring among moderate Democrats.
via Senate Lacks Votes to Pass Stimulus – washingtonpost.com.
I am glad to see that the Republicans and some of the more saner elements of the Democratic Party are ridding this Economic Stimulus Bill of unnecessary pork. I think that it is a shame that the Far left wing of the Democratic Party would use this economic downturn to try and further their socialist agenda. I think the voters should remember this when they go to the polls in 2010.
Others: Washington Monthly, Matthew Yglesias, Megan McArdle, Marginal Revolution, Balance of Power, Free exchange, LiberalOasis, The Washington Independent, The Plum Line, Associated Press, Reason, USA Today, Wall Street Journal, The Caucus, The Corner, The Plank, D-Day, Gawker, Wonk Room, Outside The Beltway, AMERICAblog News, Wizbang and Shopfloor
(via Memeorandum)
Dick Cheney Warns of New Attacks
I should have named this “The mad rantings of the Eternal Neo-Con”, But I figured I’d try to be fair.
Video:
The Story:
Former Vice President Dick Cheney warned that there is a “high probability” that terrorists will attempt a catastrophic nuclear or biological attack in coming years, and said he fears the Obama administration’s policies will make it more likely the attempt will succeed.
In an interview Tuesday with Politico, Cheney unyieldingly defended the Bush administration’s support for the Guantanamo Bay prison and coercive interrogation of terrorism suspects.
And he asserted that President Obama will either backtrack on his stated intentions to end those policies or put the country at risk in ways more severe than most Americans — and, he charged, many members of Obama’s own team — understand.
“When we get people who are more concerned about reading the rights to an Al Qaeda terrorist than they are with protecting the United States against people who are absolutely committed to do anything they can to kill Americans, then I worry,” Cheney said.
For the record, I believe that he does have a point about the Gitmo detainees. However, I believe that the mentality that they will attack us right away is wishful thinking on his part.
Are the Democrats secretly attempting to bring back the fairness doctrine?
This is a very dangerous thing, Conservatives and Republicans ought to be raising the roof about this.
Despite the absence of any action pending to re-enact the so-called “Fairness Doctrine,” congressional Republicans have nonetheless introduced legislation to prevent its passage, insisting that Democrats are advancing a quiet agenda to silence conservative talk radio.
Whether Americans realize it or not, say Republican lawmakers, “Free speech is under attack.”
For their part, several Democrats have denied there’s any attempt underway to reestablish the “Fairness Doctine,” insisting the GOP is trumping up paranoia that amounts to “much ado about nothing.”
So which is it?
In 1949 the Federal Communications Commission adopted a policy that required broadcasters to devote airtime to the public interest and to air opposing viewpoints when discussing controversial and political issues. The FCC abandoned the policy in 1987, paving the way for talk radio to explode from fewer than 150 stations nationwide to more than 3,000.
The majority of the country’s talk radio programs are politically conservative, prompting some, as WND has reported, to long for a more “balanced” menu.
“For many, many years, we operated under a Fairness Doctrine in this country,” Sen. Jeff Bingaman, D-N.M., told Albuquerque radio station KKOB last year. “I think the country was well-served. I think the public discussion was at a higher level and more intelligent in those days than it has become since.”
Former broadcaster Rep. Mike Pence, R-Ind., however, sees the policy as an attack on First Amendment rights.
“Bringing back the Fairness Doctrine would amount to government control over political views expressed on the public airwaves,” Pence has said in opposition to the policy. “It is a dangerous proposal to suggest the government should be in the business of rationing free speech.”
via Is there sinister plot to squelch talk radio? — WorldNetDaily.
Let me give you my opinion. That is what Blogs are all about, political opinion and discussion. I believe that the “fairness doctrine,” is nothing more pure communism. Control of free speech in America. FDR instituted it during World War II to control dissent towards the War. It was called Communism at that time, by many Conservatives of that era and it still IS communist in nature as far as I am concerned. The reason I say this, is because it is the same thing that Hitler did in Germany and what the Soviets did in Russia, they controlled freedom of speech to quell dissent. (Yes, I know, Hitler was not a communist!)
However, on a more practical level. I do not believe that the Democrats will succeed in bringing it back. Why? Because the Government does not have the resources to enforce such a law. Heck, the FCC has been cutting down staff since the 1980’s, because the high costs of maintaining the huge staff. Examples, The FCC has basically turned over the examination process of the Amateur Radio Service over to the Amateur Radio community themselves. The enforcement is there, but you have to be doing something rather obnoxious to get a visit from the FCC anymore. The Amateur Radio Service is essentially self policed. So, I seriously doubt that even something like this was even passed, that the FCC would even bother to enforce it. I also believe that it will never get to a vote, because there would be a push back within the FCC to stop it, because of the lack of enforcement funding.
So, while I believe that this is a huge political issue, and that Conservatives everywhere ought to stay on top of it. I just do not believe that one; it will ever pass and two, that the FCC would even bother enforcing it.
Should we give incentive bonuses to Wall Street Watchdogs?
I have fixed feelings about this, and I will explain why a little further down.
An Article in the New York Times Dealbook Column asks a question whether Wall Street Regulators or Watchdogs should get performance bonuses.
Maybe someone deserves a bonus.
Like someone who sniffs out the next Bernie Madoff. Or jousts with tomorrow’s gonzo bankers. Or defuses the Next Big Crisis in whatever Next Big Thing is dreamed up by Wall Street.
Someone, in short, who regulates.
It is clear that the nation’s financial regulators were no match for Wall Street last time. The financiers were always one step ahead. But maybe that isn’t surprising. The financiers, after all, have a big incentive to outsmart the financial police. It is called a bonus. Wall Street lures a lot of bright minds with money. How can federal agencies compete? They can’t.
So, of course, The Government of Singapore’s head honcho says we ought to incentivize watchdog process.
Tony Tan Keng Yam, deputy chairman and executive director of the Government of Singapore Investment Corporation, suggested that one reason American regulators fell down on the job was that they were paid too little.
“You must have as good people working in the government in the regulatory authorities as those that are working in the private sector,” Mr. Tan said. “You do need, particularly in these very difficult times, capable people in central banks, in government, in the Treasury who can effectively supervise.”
Mr. Tan knows about this firsthand. He is a former regulator himself, and Singapore has a different view about compensation.
“We pay our politicians and our government servants very well,” he said. “We lock remuneration to the market.”
While Singapore’s watchdogs aren’t paid enough to afford private planes, some in top positions make seven-figure salaries.
At first blush, this would seem to be a great idea; however, if you think about it closely, this would not be such a good idea. Because of the following:
Some at Davos thought the bonus idea could work. But anxiety over that approach was palpable. “They already treat us like criminals,” one hedge fund manager said.
A few said giving bonuses to regulators would be like giving bonuses to the police for issuing speeding tickets. Maybe the regulators, like Wall Streeters, would start thinking about the money, rather than what is right. But maybe that’s exactly what Wall Street needs to slow down.
I must say, that I highly disagree with this idea. Why? While I believe that moderate regulation is a good idea on Wall Street; I believe that incentivizing the Wall Street watchdog process will result in a overzealous regulatory process, that will be solely based upon monitory compensation. This would be absolutely disastrous to the free market process in America. As well all know we already law enforcement that borderlines upon a police state. Doing this to Wall Street would cause a fear mentality amongst the financial sector and discourage investment.
We need regulation, not a financial police state.
Daniel Larison on Michael Steele
An interesting point of view
Money Quote:
Curious to see what Steele had to say, I watched the interview he gave on FoxNews, and I can’t say I was all that impressed. To what did he attribute the GOP’s political decline over the last two cycles? Naturally, it was spending. That was it. Spending. It’s not just that he didn’t address the GOP’s failures in foreign policy and its errors in anti-terrorism, which I would have been interested to hear, but that this was the only reason he gave, which suggests that he thinks the main solution to GOP woes is to come out against spending (unless, of course, it relates to “defense”).
The Story of John Birch
Here is a very excellent video on the life of John Birch:
This video is by the founder of the John Birch Society, Robert Welch explaining what the John Birch Society is about:
Recieved via e-mail
This popped in my in box:
Dear Newsmax Reader,
Democratic congressional leaders and the Obama Administration have hyped the American Recovery and Reinvestment Act of 2009 as an urgent and essential “economic stimulus” package. This bill would be more aptly titled, the Pelosi-Reid Borrow-and-Spend Act!
The Senate is planning to vote on S.1, its version of the “stimulus,” this week. We can defeat it if all of the Republican members of the Senate vote NO, as their Republican colleagues in the House of Representatives did. I urge you to send a powerful message to your U.S. Senators today that you oppose this bloated, ill-conceived plan!
The $819 billion “stimulus” package approved by the House last week and the nearly $900 billion version now under consideration in the Senate would add to a federal deficit already projected to reach a record $1.2 trillion this year. This bill is not only one of the largest spending measures ever to pass through Congress, it will cost more over two years than we’ve spent to date on the wars in Iraq and Afghanistan!
The bill’s ability to fulfill its stated mission of stimulating the economy is also questionable at best. The nonpartisan Congressional Budget Office has concluded that more than half of the hundreds of billions of dollars in infrastructure spending contained in the bill, such as $26 billion of the $30 billion allocated for highways and $15.5 billion of the $18.5 billion for renewable energy projects, will not take place for more than two years — long after economists predict the current recession will have ended.
What’s more, the tax cuts in the package are narrowly targeted, with the largest portion going to more rebate checks, a strategy that failed to reverse our economy’s slide last year.
Even worse, the bill contains all sorts of special-interest and congressional pet spending projects that have virtually nothing to do with economic growth. As just one example, it allocates $335 million to the Centers for Disease Control (CDC) for the prevention of sexually transmitted diseases. Not only will this “healthcare” spending do nothing for the health of our economy, CDC has a track record of using such funds for events like a transgender beauty pageant in San Francisco and a conference, entitled “Got Love? Flirt/Date/Score,” that taught participants how “to flirt with greater finesse.”
Rather than burdening today’s and tomorrow’s taxpayers with this massive government spending spree, Congress should create more incentives and opportunities for private-sector jobs and growth by cutting government spending and enacting across-the-board tax cuts for individuals and businesses, like those that helped reverse economic slumps in the 1960s, 1980s, and earlier this decade.
If the Senate follows the House’s lead and passes this borrow-and-spend “stimulus” bill, it will waste record amounts of tax dollars, provide virtually no benefit to the economy, and only add to our nation’s soaring liabilities.
Sincerely,
Thomas A. Schatz
PresidentP.S. If the Senate approves the American Recovery and Reinvestment Act, federal lawmakers will have authorized more than $2 trillion in new government spending since February, 2008. While the cost of “jump-starting” the economy is sobering, the coming fiscal mushroom cloud is truly alarming. The national debt currently stands at a mind-numbing $10.6 trillion, and America is sinking into debt at the rate of $3.3 billion per day. Our children and grandchildren simply can’t afford this borrow-and-spend “stimulus” bill. Please deliver that message to your Senators today!
***
The Council for Citizens Against Government Waste (CCAGW) is the lobbying arm of Citizens Against Government Waste (CAGW), the nation’s largest taxpayer watchdog organization with more than one million members and supporters nationwide. CCAGW is a 501(c)(4) nonpartisan, nonprofit organization that lobbies for legislation to eliminate waste, fraud, abuse, and mismanagement in government. Contributions to CCAGW are not tax-deductible for federal income tax purposes. For more information about CCAGW, visit www.ccagw.org. Help CCAGW wage and win this battle to stop the Senate from passing this disastrous ”stimulus” bill and burdening future generations with crippling debt by making a contribution to support our grassroots and lobbying efforts today.
The Simulus and the Republicans
An interesting question to be asked.
Will the Republicans opt to do this, given the gravity of the recession? They are in no mind to allow the bill to go through without substantial changes. The Senate Republicans, just like the House ones, believe that the stimulus bill is something of a Trojan horse. While no one disputes that a big fiscal punch is needed, many items in the current plan (which has been hastily thrown together) will take too long to deliver; at least a third of the House’s $819 billion package will not have been spent 19 months from now, according to an analysis by the Congressional Budget Office.
The Republicans prefer tax cuts, which have the advantage of delivering their punch almost instantly. The problem is that in tough times like these, people are likely to save rather than spend their tax gains especially if—as in this case—the cuts are strictly temporary. Extra saving does nothing to boost demand in an economy that is suffering from a shortage of it. Republicans also object to some of the protectionist “Buy American” provisions attached to some of the money, and to inanities such as a $200m plan to returf the Mall in Washington, DC, (this last has now been removed from the House bill).
A party with a majority can usually pass whatever it likes in the House, but the same is not true in the Senate. Debates in the Senate are not rigidly time-limited as they are in the House, and in order to end discussion and move to a substantive vote, a motion of “clôture”, or closure, has to pass. The snag is that 60 votes are needed to pass such a motion; and the Democrats have only 58 senators. In theory, if the Republicans hang firm—and they held absolutely firm in the House—they could prevent the stimulus bill from ever being put to a full vote.
BARACK OBAMA’S gargantuan stimulus bill moves to the Senate on Monday February 2nd, after passing through the House of Representatives without a single Republican vote in favour. That means that it is in trouble.
via How Senate Republicans will respond to the stimulus bill | Stimulus and the Senate | The Economist.
Hopefully, the Senate Republicans will strip out all of the special interest pork that is within that bill and will pass a bill that will help the economy. Instead of further the socialist agenda of the far left. But I do not look for any huge sweeping changes. As Michelle Malkin has reported, the Republicans want to play Democrat-lite and go along with Obama’s plans. Wonderful. So much for the loyal opposition guys. 🙄
How about just letting the economy run it’s course and taking the Government’s hands off of it? Instead, they want to play communist-lite and prop up everyone. Yeah, it will work, until China cuts us off, as well as the other Nation’s that are buying our debt.
Sometimes, I really think that the psychos are running the “nuthouse” in Washington D.C. 😮
The Mining Industry feels the pinch
It is not just the auto industry that is feeling the pinch of the economy, it seems that the mining industry is feeling it as well.
BIG mining companies have suffered an astounding reversal of fortunes in the past few months. As boom has turned to gloom, commodity prices have slumped, leaving mining firms with painful decisions to make. Rio Tinto is the latest to suffer. On Monday February 2nd the Anglo-Australian mining giant was forced to confirm press speculation, acknowledging that it is in talks with Chinalco, a state-owned Chinese aluminium maker. The Chinese firm may agree to a deal to help to alleviate Rio’s debts which were taken on before the credit crunch led to a foundering world economy.
Rio’s debt pile of some $40 billion was mostly run-up through its purchase of Alcan, a Canadian aluminium firm, in 2007. Around $9 billion is due later this year, and refinancing will be a tricky proposition given the parlous state of debt markets. Another $10 billion must be repaid in 2010. Rio has started a firesale of assets: it raised $1.6 billion last week by selling iron ore and potash businesses in Brazil and Argentina to Vale, a Brazilian rival. But prices are depressed and making a sale is not always possible—Rio has still not managed to offload Alcan’s packaging business, although it is reportedly in talks with a potential buyer.
via Rio Tinto, deeply indebted, seeks investment from China The Economist.
More fall out from a concept floated by the Democrats, that was based entirely upon risk. Thank you Bill Cinton for ruining America. 🙄
Japan’s Economy on the verge of collapse as well.
Russia is not the only one. Japan now is on the verge of collapse as well.
A reader chided me for not making note of the truly dreadful factory output figures released last Thursday, which showed a fall of 9.6%.
I have to confess that I have fallen into “Japan bad news” syndrome, in that I expect bad news out of Japan and therefore did not focus enough on the details. And while I do not aspire to covering every financial news story (that’s what the MSM is for), the latest figures paint a grim picture, even by our new, desensitized standards.
It wasn’t simply that December was truly awful, but it came on top of a nearly-as-bad November
via naked capitalism: Veneroso: Japan on the Edge of the Abyss.
Again, this is what happens when you inflate a money supply and create a bubble.
Yves continues:
Yves here. I only get the privilege of reading Veneroso now and again, but I cannot recall him taking a tone remotely like what follows:
I have been writing about an Asian black hole for almost two months now. I have been crying from the rooftops about an emerging depression in Japan. It has been as though a neutron bomb had gone off in the world. There was no one who seemed to notice, no one who seemed to listen.Every week it gets worse and worse and worse. Today it was Japan….
THERE HAS NEVER BEEN DATA THIS BAD FOR ANY MAJOR ECONOMY – EVEN IN THE GREAT DEPRESSION. December industrial production came in down 9.6%, worse than the METI forecast. It is now down almost 21% year over year. METI forecasts a further 4.7% decline in February. The inventory to production ratio soared again. Maybe METI will be correct.
If it is, Japan industrial production will have fallen 28% (non annualized) in four months. It will have fallen by a third in about a year. Nothing in the history of major nations compares. A 28% decline in four months would be more than half of the entire decline in U.S. industrial production over the 3 years and nine months of the U.S. Great Depression.
It would be a greater decline in four months than in any 12 month period in the Great Depression in the U.S. We are literally looking at the unimaginable. (I am attaching the U.S. industrial production index from the Great Depression for comparison).
IT’S A DEPRESSION IN JAPAN – ALREADY – PURE AND SIMPLE.
If this is true, unless President Obama can pull some sort of a miracle out of his rather skinny ass. We are in deep trouble. The reason I say this is because we are in a Globalist Economy, whether we like it or not, and Japan’s failures are our failures as well.
I think it will get much worse, before it gets any better. 🙁
(Via Freedom’s Phoenix)
Andrew Sullivan: Idiot Faux Conservative Douche Nozzle
Remember that rant by David Duke, regarding Michelle Steele’s election to the Republican Party Chair that I blogged about yesterday?
Well, it seems that a particular faux conservative has once again showed his incredibly liberal side. I am referring to faux conservative, illegal immigrant and Blogosphere resident fake conservative fag boy; Andrew Sullivan. Mr. Sullivan gives Duke his so-called “Malkin” award.
He is, of course, referring to syndicated columnist, Conservative Blogger and quite the serious MILF; Michelle Malkin. (Of course, I am kidding about the M.I.L.F. part! (Well, sorta… She is hot, and yes, I’d hit it, given the chance… :D)
Now this is where this blog entry might just veer off into swearing, name calling and a bit of anger, so, to be safe and because I happen to know that my readership has increased. I’m going to start the butt chewing after the fold.
Proceed at your own risk, DANGER! CONTENT WARNING AFTER THE FOLD!
Can you feel the love?
Peter Hitchens writes:
If I never again had to read or write a word about homosexuals, I would be very happy. I really don’t want to know what other people do in their bedrooms. But these days they really, really want us all to know. And, more important, they insist that we approve. No longer are we allowed to keep our thoughts to ourselves, while being polite and kind.
We are forced to say that we think homosexuality is a good thing, that homosexual couples are equal in all ways to heterosexual married couples. Most emphatically, we are compelled to agree that homosexual couples are just as good at bringing up children as the children’s own grandparents. Better, in fact.
Many people who believe nothing of the kind now know that their careers in politics, the media, the Armed Services, the police or schools will be ruined if they ever let their true opinions show. I am sure that many of them regularly lie about their views, to avoid such trouble.
We cringe to the new Thought Police, like the subjects of some insane, sex-obsessed Stalinist state, compelled to wave our little rainbow flags as the ‘Gay Pride’ parade passes by.
And that’s another thing. We can’t even call homosexuals ‘homosexuals’ any more. This neutral word is not considered enthusiastic enough. We have to say ‘gay’. Which is exactly why I don’t, apart from in inverted commas.
Ouch. Wow, that I was a wee bit harsh…. and this is in the U.K. no less!
Others: The Other McCain
Not everyone likes the idea of Michelle Steele being G.O.P. Chair
This is quite interesting, Via VDare’s Blog:
Apparently Chairmanship of the Republican National Committee has become another of those positions, like being head of an Ivy League school or Governor of the Federal Reserve, to which white men of Christian heritage Need Not Apply.
The clique which controls the RNC has just ordained failed Maryland Senate candidate and professional Black Michael Steele: Michael Steele becomes first black RNC chairman By Liz Sidoti Associated Press January 31 2009-01-31
Steele was preceded by professional Hispanic Senator Mel Martinez (R-Cuba) who has apparently found masquerading as a Republican Senator – now the brilliant leadership supplied by his cronies has cost the GOP the House, Senate, and White House – too much like work. (Martinez dropped out of the RNC position in late 2007 and his assistant Mike Duncan served as stop-gap.) Martinez succeeded hereditary open borders fanatic Ken Mehlman.
There is an irony here. Steele was already being prepared for Coronation in 2006 when the Rove/Mehlman crowd realized that somebody has put some sensible immigration remarks on Steele’s Senate Campaign website. So he was dumped.
Interesting indeed.
President Obama breaks another campaign promise
Here’s another campaign promise under the bus!
Via The L.A. Times:
The CIA’s secret prisons are being shuttered. Harsh interrogation techniques are off-limits. And Guantanamo Bay will eventually go back to being a wind-swept naval base on the southeastern corner of Cuba.
But even while dismantling these programs, President Obama left intact an equally controversial counter-terrorism tool.
Under executive orders issued by Obama recently, the CIA still has authority to carry out what are known as renditions, secret abductions and transfers of prisoners to countries that cooperate with the United States.
Current and former U.S. intelligence officials said that the rendition program might be poised to play an expanded role going forward because it was the main remaining mechanism — aside from Predator missile strikes — for taking suspected terrorists off the street.
The rendition program became a source of embarrassment for the CIA, and a target of international scorn, as details emerged in recent years of botched captures, mistaken identities and allegations that prisoners were turned over to countries where they were tortured.
The European Parliament condemned renditions as “an illegal instrument used by the United States.” Prisoners swept up in the program have sued the CIA as well as a Boeing Co. subsidiary accused of working with the agency on dozens of rendition flights.
But the Obama administration appears to have determined that the rendition program was one component of the Bush administration’s war on terrorism that it could not afford to discard.
So much for the changing all of the Bush Administration’s tactics to deal with terror. One would think that the left would raise a ruckus about this. But surprisingly, there’s not been the unhinged outrage that I expected.
Others: Hot Air, The Raw Story, theheretik.us, Liberty Street, Moe_Lane’s blog, Macsmind, Jules Crittenden and Pat Dollard
More on Kentucky Ice Storm-Gate
It seems that the Jammie Wearing Fool has Blogged on what I reported Yesterday.
Mr. Jammie writes:
Can you imagine the media reaction if this were George W. Bush? Heck, we’re still hearing about Hurricane Katrina nearly four years later.
Yes, I could. That’s because it happened while there was a Republican in office and the Democrats used that as a rallying cry for change. Oh, and because there were black people in involved too. But Because these are White Southerners and possibly even Conservatives, nobody in the liberal media cares.
Mr. Jammie also says:
Is Obama even aware what’s going on in Kentucky? I know he’s very busy between trashing Wall Street and Rush Limbaugh, but could he at least acknowledge these poor folks and get them some help?
I am sure that Obama is aware, whether cares or not, is another story. You have to remember those are the “Bitter and Clingy” one’s that did not vote for him. Kind of like the blacks in New Orleans who did not vote for Bush. It is simple case of, “Do I want to help these people? After all, they did not vote for me anyhow!” Perhaps it is a bit of a revenge towards the southern white community for what happened in New Orleans. Perhaps “President” Obama is saying to himself, “Let them damned honkeys suffer, after all MY people suffered more in New Orleans and even more so 300 years ago!”
So, I suppose this is revenge for what our forefathers did many years ago.
Update: Michelle Malkin finally gets around to blogging about it
Others: Associated Press, The Sundries Shack, Political Machine, Ed Driscoll.com, RedState, The Jawa Report and The Other McCain
Daschle-Gate Continues
The Scandal continues:
President Obama’s choice for health secretary, Tom Daschle, was aware as early as last June that he might have to pay back taxes for the use of a car and driver provided by a private equity firm, but did not inform the Obama transition team until weeks after Mr. Obama named him to the health secretary’s post, senior administration officials said Saturday.
As Senate Democrats rushed to save the nomination of Mr. Daschle, their former leader, the White House spent the day trying to explain how he survived its vetting process despite his failure to pay $128,000 in taxes.
The White House would not say when the president himself learned of the tax issue, but said Mr. Obama is standing by his nominee.
“The president believes that nobody is perfect, but that nobody is trying to hide anything,” Robert Gibbs, the president’s press secretary, said in an interview, adding, “I think Senator Daschle rightly is going to have to answer questions, but I think members will be satisfied with the answers that he gives and will understand that he’s the right man for the job.”
At least six leading Democratic senators have come out in support of Mr. Daschle, but the fate of his nomination is unclear. The Senate Finance Committee, which is charged with holding a confirmation hearing on Mr. Daschle’s nomination, will meet behind closed doors Monday to discuss his taxes. After Timothy F. Geithner, Mr. Obama’s Treasury secretary, faced similar issues, some senators may have little appetite for confirming another nominee with tax problems.
“It’s totally shocking,” an aide to a Democratic senator said Saturday. “Why do we have to continue to have the same story over and over again with these nominees?”
via Daschle Knew of Tax Issues Over Car Use Last June – NYTimes.com.
I find it absolutely amazing that the Democrats would still confirm this guy, after learning about all these indiscretions. But then again, integrity is not one of the Democrats strengths. If the shoe was on the other foot. The Republicans would have already withdrawn his nomination and someone else would have been offered. But because he is one the team of “The One”, he will confirmed and his tax problems quickly forgotten. Funny how that works, is it not?
Others: Althouse, Betsy’s Page, JustOneMinute
(via Memeornadum)
I get the funniest e-mails sometimes
Because I am a Blogger and a moderate Conservative, I am signed up for e-mails from Newsmax. Yes, I know who owns it.
Mostly, I get ads about stocks and wealth and health stuff. But this one here, about made me fall out of the chair, laughing! 😆
Quote:
Rather than damaging a man’s sexual performance, a good, stiff drink actually improves a man’s sexual prowess in the bedroom. Australian researchers found that men who drink report as many as 30 percent fewer problems than those who didn’t drink at all.
Dr. Kew-Kim Chew, of Western Australia’s Keogh Institute for Medical Research told London’s Sunday Telegraph that men who drank within safe, moderate guidelines seemed to have the best erectile function. In Chew’s study of 1,580 Australian men, even binge drinkers functioned better sexually than those who never drank.
“We found that, compared to those who have never touched alcohol, many people do benefit from some alcohol, including some people who drink outside the guidelines,” Chew said.
The study found that low risk drinkers ? those who consumed up to twenty drinks a week spread over five days ? had the fewest sexual problems. Those who drank on weekends only and those who were binge drinkers suffered lower rates of erectile dysfunction than those who drank only one day a week or drank none at all. Men who performed the poorest were heavy drinkers who had stopped drinking and those who smoked or had heart disease.
Link to story at Newsmax Link removed, spam link… ooops! 😮
I’ll take my keg now please. I prefer Molson Ice, great beer. 😀
Cue Roger Miller:
Drink up! 😛