Tuesday, August 30, 2011

Friday, August 26, 2011

Obama Has a Record, But he Needs a Better Explanation

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MSNBC Turns to Ray Nagin (D) For Hurricane Tips

No, that is not joke. You can not make this stuff up...

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Price Gouging Saves Lives

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Tripoli End Game: Is Libya Headed For a Civil War?

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Disaster Preparation For Your Elderly Parents/Grandparents

Disaster preparation is vital, and blissfully simple. As this hurricane heads to NY, residents have probably given some thought to their parents, grandparents and elderly neighbors. This is commendable, and if the storm hits as hard as some are predicting it will be your responsibly to step up and become a first responder. Emergency personnel could be swamped with other calls and cut off from you in the short term. With your neighbors it is not complicated. You make sure to stockpile a few extra perversion and if the power goes out you can walk across the street to make sure they have enough food and water. If you have enough space, you can even collect them bringing them back to your place if they should not be alone. With your parents this is not enough.

Let me repeat that; when it comes to making sure your parents and grandparents are ok after we get hit, it is insufficient to just have extra supplies for them with you. The five minute drive to your folks place on a good day could easily turn into a nightmarish drive that could get you stranded. With winds as high as projected the large fallen branches could be the least of your concerns with whole trees blocking the road. Depending on how rural your area is and how bad the storm gets, you could easily not have clear path to their house. Even if you do, how would you go about finding it; randomly driving around in the back roads hoping for the best? A five minute drive is a lot longer of a walk then you would think even on sunny day. If you find the gallon container of water heavy bringing it from your car to your house, imagine needing to measure how far you have to carry it in terms of miles instead of feet.

You need to call them right now. Ask if they have enough provisions for a few day. Ask them what they have, and if you do not think it will be enough bring to them what you bought with them in mind to them before the storm hits. If you can convince them, it may be better to bring your folks back to your house so you can keep an eye on them. Be sure to bring their medications with you back to your house, enough medicine for at least a week just to be overly cautious.

If you still have not prepared for the coming storm you are running preciously low on time. Even if you think it will all blow over, what is the harm of being ready. It is much worse to have the supplies and not need them then to need the supplies and not have them.

One final note; be sure to 'gear up' before the storm hits. That means putting a small flashlight in your pocket or clipping it to your belt along side a multitool, and putting your emergency gear (radio, bigger flashlight...) in a central easy to access location. Knowing you have a radio and flashlights 'somewhere' or even 'the closet in the...' is not the same as actually possessing it. It is much easier to dig through a closet with your lights on then after the power goes out.

Wednesday, August 24, 2011

Fallen SEAL’s Dog Refuses to Leave His Master's Side During The Funeral

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"Footage from the memorial service of Jon Tumilson, a small-town Iowa boy who loved his country and his dog and who, by the way, was one of the most elite soldiers in the world’s greatest military. He died aboard the Chinook that was shot down by the Taliban over Wardak Province a few weeks ago. He’s survived by his parents, two sisters, and his chocolate lab Hawkeye, whose bond with his master was so close that the family chose a photo of the two of them to be placed above the casket. What you’re about to see will haunt you forever. Simply shattering."

Rubio (R) Saves The Day Catching a Falling Nancy Reagan

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Congressman Chabot (R) Had Police Confiscate Phones And Cameras During Town Hall

The level of stupidity here is off the charts. Beyond the normal, what country are we in where the government officials think they have the right to confiscate our photographic equipment for no apparent reason other than it may capture them doing/saying something stupid, the whole event was being recorded anyways.

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"A congressman from Ohio had cops grab the cameras of constituents during a town hall meeting. Steve Chabot, a Republican, had cell phones and cameras confiscated in order to “prevent an embarrassing Youtube video from making the rounds,” according to Carlos Miller, who runs a blog documenting efforts by the state to stifle the First Amendment rights of photographers.
...
Police said the cameras were taken “to protect the constituents.” A local television station, however, was allowed to videotape the meeting and the brazen move by Chabot and the cops.
"

Battle For The California Desert: Why is The Government Driving Folks Off Their Land?

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Revenge of The PUMAs! Can Hillary Save The Democratic Party?

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Tuesday, August 23, 2011

Sexual Assault Charges Against Strauss-Kahn Dropped

http://ca.news.yahoo.com/prosecutors-ask-ny-judge-drop-strauss-kahn-case-003518648.html

"A New York judge dropped all criminal sexual assault charges against former IMF chief Dominique Strauss-Kahn on Tuesday, leaving him free to return to France and rebuild a shattered career.

The decision ended a case that brought three months of sordid headlines on both sides of the Atlantic about a hotel maid who accused Strauss-Kahn of attempting to rape her in his luxury Manhattan hotel suite and forced her to perform oral sex.

Prosecutors took the rare step of requesting dismissal of the charges after they had discovered contradictions in the maid's story and said they now questioned her credibility.
"

Washington DC Hit by 5.8 Magnitude Earthquake

The earthquake's epicenter was in Richmond Virginia and felt up and down the East Coast. There have not been any reports of significant damage or casualties. Very unusual for a large quake to hit the on the Atlantic Coast. Obama got the news on the golf course at Martha's Vineyard.

http://news.yahoo.com/quake-rocks-washington-area-felt-east-coast-181550612.html

"The most powerful earthquake to strike the East Coast in 67 years shook buildings and rattled nerves from South Carolina to Maine on Tuesday. Frightened office workers spilled into the streets in New York, and parts of the White House, Capitol and Pentagon were evacuated.

There were no immediate reports of deaths, but fire officials in Washington said there were at least some injuries.

The National Cathedral said its central tower and three of its four corner spires were damaged, but the White House said advisers had told President Barack Obama there were no reports of major damage to the nation's infrastructure, including airports and nuclear facilities.

The U.S. Geological Survey said the quake registered magnitude 5.8 and was centered 40 miles northwest of Richmond, Va.
"

Video embedded below.



"Via Mediaite, no one was hurt and almost no damage was done so no one’s going to care tomorrow what O was up to when it happened. Like everyone else in America with a Twitter account, I myself spent the aftermath goofing on overreactions various and sundry, especially from the media. (As I write this, the front page of the Daily Mail’s website makes the quake sound like some sort of new 9/11.) But the jokes only really started flying after everyone felt sure this was officially No Big Deal. Which is why I’m surprised by the Journal’s timeline of how things went down at the Vineyard:

Shortly before 3 p.m. Mr. Obama paused from his round at Farm Neck Golf Club in Oak Bluffs, Mass., to convene a conference call on the earthquake with top advisers, White House spokesman Josh Earnest said. The president was briefed on the scope of the earthquake and its impact on infrastructure in the affected areas up and down the East Coast.

“The president was told that there are no initial reports of major infrastructure damage, including at airports and nuclear facilities and that there were currently no requests for assistance,” Mr. Earnest said in a statement…

Mr. Obama, who has been vacationing on Martha’s Vineyard with his family since last Thursday, had arrived at Farm Neck Golf Club just after 1:30 p.m., about 20 minutes before the 5.9 magnitude earthquake hit. It is unclear if he, like many on Martha’s Vineyard, felt the earthquake at the time.

The president was seen talking on a cell phone after teeing off on the first hole.

He was on the course for an hour after the quake struck without comprehensive information about how bad it was? Bush spent seven minutes reading “My Pet Goat” after the planes went in and he’ll hear about it until the day he dies; imagine if the quake had knocked a few bridges down and it turned out later that Obama had spent the following hour teeing off. I’m amazed he didn’t run from the course as soon as he heard the news (presumably via that phone call after the first hole), just to be on the safe side. A lot of people were lucky today that things weren’t worse. He’s one of them.
"

Biden 'Fully Understands And Does Not Second Guess China's One Child Policy' a Day Before he 'Strongly Opposes it'

The White House calls this a clarification. If it was anyone other than Biden I would laugh, but with him it may be plausible. A policy in which the government dictates how many children a family can have and enforces it with forced sterilization and forced abortions is not one in which there should be any inkling of support for from our government.

First, what he said.

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http://www.weeklystandard.com/blogs/joe-biden-i-fully-understand-chinas-one-child-policy_590513.html

"What we ended up doing is setting up a system whereby we did cut by $1.2 trillion upfront, the deficit over the next 10 years. And we set up a group of senators that have to come up with another $1.2 to $1.7 trillion in savings or automatically there will be cuts that go into effect in January to get those savings. So the savings will be accomplished. But as I was talking to some of your leaders, you share a similar concern here in China. You have no safety net. Your policy has been one which I fully understand -- I’m not second-guessing -- of one child per family. The result being that you’re in a position where one wage earner will be taking care of four retired people. Not sustainable.

So hopefully we can act in a way on a problem that's much less severe than yours, and maybe we can learn together from how we can do that.
"

Now, the 'clarification'.

http://townhall.com/tipsheet/guybenson/2011/08/23/breaking_obama_administratrion_clarifies_biden_remarks,_strongly_opposes_chinas_one-child_policy

"As I mentioned in my previous post, I contacted the White House this afternoon for an explanation of Vice President Biden's stunning remarks regarding China's odious one-child policy. Moments ago, I received the following on-the-record statement from Biden's press secretary, Kendra Barkoff:


“The Obama Administration strongly opposes all aspects of China’s coercive birth limitation policies, including forced abortion and sterilization. The Vice President believes such practices are repugnant. He also pointed out, in China, that the policy is, as a practical matter, unsustainable. He was arguing against the One Child Policy to a Chinese audience.”


This blanket condemnation of China's monstrous policy is laudable. Although millions of Americans harbor passionate disagreements with this administration's stance on abortion, every American should welcome the White House's clear and categorical rejection of "all aspects" of China's reproductive coercion. That being said, I still fail to see how publicly and proactively declining to "second guess" a policy that one finds "repugnant" amounts to "arguing against" it. If the Vice President's conviction is that China's policy is morally abhorrent, he should have said so when he raised the issue on Chinese soil. His thoughts on this question shouldn't require clarification, frankly, although the clarification is certainly appreciated.
"

Jay Beeber Defeats LA's Red Light Cameras

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Gaddafi on The Ropes: Vindication For The Policies of President George W. Bush?

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Monday, August 22, 2011

Obama's Statement on Libya

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Here is the written statement released last night.

http://www.weeklystandard.com/blogs/obama-statement-libya_590495.html

"The White House press office just sent out this statement from President Obama on Libya:

Tonight, the momentum against the Qadhafi regime has reached a tipping point. Tripoli is slipping from the grasp of a tyrant. The Qadhafi regime is showing signs of collapsing. The people of Libya are showing that the universal pursuit of dignity and freedom is far stronger than the iron fist of a dictator.

The surest way for the bloodshed to end is simple: Moammar Qadhafi and his regime need to recognize that their rule has come to an end. Qadhafi needs to acknowledge the reality that he no longer controls Libya. He needs to relinquish power once and for all. Meanwhile, the United States has recognized the Transitional National Council as the legitimate governing authority in Libya. At this pivotal and historic time, the TNC should continue to demonstrate the leadership that is necessary to steer the country through a transition by respecting the rights of the people of Libya, avoiding civilian casualties, protecting the institutions of the Libyan state, and pursuing a transition to democracy that is just and inclusive for all of the people of Libya. A season of conflict must lead to one of peace.

The future of Libya is now in the hands of the Libyan people. Going forward, the United States will continue to stay in close coordination with the TNC. We will continue to insist that the basic rights of the Libyan people are respected. And we will continue to work with our allies and partners in the international community to protect the people of Libya, and to support a peaceful transition to democracy.
"

The Warrior Ethos & The Future of The US Military: Could Mercenaries Seize Power in The US?

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Obama - 'Congress is Hurting my Approval Rating'

The buck stops ... everywhere else.

http://hotair.com/archives/2011/08/22/obama-lets-face-it-congress-is-hurting-my-approval-rating

"Not an absurd claim on its face — in theory, the more people hate “Washington” generally, the more all relevant players should suffer — but it’s astounding to think this is the same guy who swore up and down on the trail that he was going to transform the way D.C. does business. Three years ago his message was, “Elect me and strike a blow for hope.” Now his message is, “Reelect me because Congress is hopeless.” Now that’s Change.

CBS’s edit of the interview doesn’t include Obama’s full answer so here it is in the interest of fairness
"

Head to the source for the quote.

Hair of The Dog: Huntsman Goes Negative on GOP, While Palin Looks More And More Like a Candidate

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No Visible Obama Support in Provincetown (Massachusetts)

After spending most of the day in Provincetown Massachusetts, I was struck most politically by what was absent. Not a single person I came across was wearing pro-Obama clothing. There were no pro-Obama sings, not even pro-Obama bumper stickers. Perhaps as striking as the absence of support on display was the almost total lack of pro-Obama merchandise for sale. Of all the stores I walk in, one had a single magnet in the back which could have gone either way (either support or oppose), and one store with three pro stickers displayed next two two anti stickers. One of those pro stickers was a 'dream fulfilled' Martin Luther King Jr. reference. This is in stark contrast to years past when you could not get away from the stuff; either on the store shelves, in the windows, or on peoples back's.

Provincetown may be the liberal beating heart of Massachusetts. It is a place where you would be hard pressed to find a single location from which a gay pride flag was not visible. If Obama lost support here, he is in even more trouble then I thought; and I thought he was in a lot of trouble.

Sunday, August 21, 2011

Beck Launches Week of "Restoring Courage" Events in Israel

I do not think it will be as big as his Restoring Honor Rally, but it should be interesting; and who knows.

http://www.theblaze.com/stories/beck-launches-week-of-restoring-courage-events-from-israel

"As the sun eased it’s way into the Mediterranean horizon Sunday evening, Glenn Beck greeted an enthusiastic crowd of over 3,000 at the Caesarea Amphiteater: “Welcome to the land of milk and honey!”

Beck’s week of “Restoring Courage” events began with a religiously themed evening entitled “The Courage to Love.”

Early in the program Beck was joined on the stage by historian David Barton who told the crowd they were “sitting in the middle of history.”
"

Rebels Take Tripoli (Libya)

Looks like the 'limited time, limited scope, kinetic military action' could over. I think the French are going to come out of this looking better then we will.

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"Associated Press reporters with the rebels said they moved easily from the western outskirts into the regime stronghold in a dramatic turning of the tides in the 6-month-old Libyan civil war. A rebel leader said the unit in charge of protecting Gadhafi and Tripoli had surrendered and joined the revolt, allowing the opposition force to move in freely.

“They will enter Green Square tonight, God willing,” said Mohammed al-Zawi, a 30-year-old rebel who entered Tripoli. Green Square has been the site of night rallies by Gadhafi supporters throughout the uprising.

Earlier in the day, the rebels overran a major military base defending the capital, carted away truckloads of weapons and raced to Tripoli with virtually no resistance.
"

Ron Paul Punk Rock Anthem

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"It was only a matter of time, but someone’s finally gone and recorded a punk rock anthem for GOP presidential candidate and contrarian Texas Rep. Ron Paul.

Released on YouTube Wednesday, the song, written by musician Erik LaVergne and titled simply “Ron Paul Punk Rock Anthem,” is perhaps the first punk song in history to advocate Austrian School monetary theory.

“We know how to fix this mess,” LaVergne shouts. “Fire Ben and the printing press!”

And who best to fix this mess? “RON PAUL!” says the chorus. “RON PAUL!”
"

Egypt Accuses Israel of Plot to Sterilize Them With ... Shampoo And Conditioner

Those sneaky Jews... . Why exactly Israel would want to do this is unclear, but why let logic get in the way of a crazy theory.

http://www.ynetnews.com/articles/0,7340,L-4110102,00.html

"'Mossad plotted to harm Egyptian fertility'
Egypt's Al-Ahram daily claims Israeli Ofir Harrari accused of spying for Israel, devised to sell Egypt hair products endangering reproductive abilities
"

Perry (R) on Obama - 'I Love my Country More Than I Care About His Feelings'

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"The Boston Herald followed Perry’s trip in New Hampshire, where the Texas governor wants to challenge Mitt Romney in his strongest state, where Perry took aim more at Obama and the President’s call for a kinder, gentler campaign:

“The rhetoric will probably get heated. I’m going to be outspoken, I’m going to be passionate, I’m going to be calling it like I see it,” Perry told the Herald in a one-on-one interview, as he shrugged off Obama’s recent scolding that he should be “more careful” about what he says.

“And if I hurt the president’s feelings, well, with all due respect, I love my country and I love future generations more than I care about his feelings,” the 61-year-old governor added.

Perry, who embraced the Tea Party even before GOP presidential hopeful Michele Bachmann, also brushed off Democratic attempts to paint him as a marginal candidate.

“It’s the height of hypocrisy for this president to call anyone a marginal performer. If anyone is a marginal performer, it’s him. He has downgraded the good name and credit of this country,” Perry said. “Talk about someone who has marginalized America.”

Republicans will also like remarks captured in this Boston Herald video about the “experiment” with the American economy, conducted by Obama and his administration. Perry calls it a “terrible, terrible failure,” and pledges to appoint pro-business administrators to agencies, especially the EPA:
"

Saturday, August 20, 2011

Obama Calls For Assad to Resign

What took so long? And really, a written statement and not a speech; weak...

http://hotair.com/archives/2011/08/18/obama-calls-for-assad-to-resign-freezes-syrian-assets

"Hosni Mubarak got eight days of protests before Barack Obama demanded his resignation in a speech. Libyan thug Moammar Gaddafi got 16 days before Obama called for him to leave power, and eventually went to war to push for his removal. Today, one hundred and fifty-six days into Syrian protests and brutal crackdowns that have left hundreds and possibly thousands dead, Obama finally got around to demanding Bashar Assad’s ouster as dictator of Syria … in a written statement:

President Obama called on Thursday for Syrian President Bashar al-Assad to step down, a demand aimed to ratchet up the diplomatic pressure on the leader who has launched a bloody crackdown on his own people for months.

“For the sake of the Syrian people, the time has come for President Assad to step aside.” Obama said in a statement.

Secretary of State Hillary Clinton is scheduled to speak shortly about a new executive order to allow for additional sanctions against the Assad regime, the New York Times reported, quoting an official who described the new measures as a “tough action that will lend additional force” to the administration’s demands.

What took so long? Obama tossed our nominal ally Mubarak under the bus in eight days, a man who kept a cold peace with Israel and the Muslim Brotherhood under control. But the White House insisted that Assad was a “reformer,” despite his alliance with Iran, his links to Hezbollah’s terrorism in Lebanon, and assistance to Hamas in attacking Israel.
"

Is Obama's "New" Job Program Dead-on-Arrival?

If it is anything like his last set of 'job programs', we can only hope...

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Jobs Not Cuts, The Critique

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Krugman Warns of Alien Invaders While Janeane Garofalo Spaces Out

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Friday, August 19, 2011

Obama - 'My Policies Reversed The Recession Until we Had a Run of Bad Luck'

Is he trying to convince us or convince himself, because I do not know anyone who is buying what he is selling.

http://thehill.com/blogs/congress-blog/economy-a-budget/177365-obama-made-his-own-bad-luck-on-jobs

"The President recently took to the campaign trail – at taxpayer expense – trying to rehabilitate his image on job creation. Obama claimed that his policies “reversed the recession” until he ran into a “run of bad luck,” but in truth the biggest challenge the economy has faced under this administration is an astonishing onslaught of federal regulations that make it nearly impossible to estimate the cost of adding new employees. In fact, the only Obama “success” on job creation is the hiring of new federal regulators, with employment at regulatory agencies up 13 percent since Obama took office to more than 281,000 federal bureaucrats. Meanwhile private sector employment shrank by 5.6 percent."

Conspiracy Theory: The Curious Case of The Obama-Osama Movie

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DHS to Halt Deportation Proceedings on Case-by-Case Basis

This is a blatant Executive power grab. Remember back when liberals and Democrats were really concerned about these things. The liberals could not get their agenda through congress so Obama is declaring it by fiat.

http://hotair.com/archives/2011/08/18/dhs-to-halt-deportation-proceedings-on-case-by-case-basis

"The Department of Homeland Security today announced new rules that will allow the DHS to halt deportation proceedings against illegal immigrants who meet certain criteria, from attending school to having family in the military to bearing primary responsibility for other family members’ care. The Washington Times reports:

Homeland Security Secretary Janet Napolitano said her department and the Justice Department will review all ongoing cases and see who meets the new criteria on a case-by-case basis.

“This case-by-case approach will enhance public safety,” she said. “Immigration judges will be able to more swiftly adjudicate high priority cases, such as those involving convicted felons.”

The new rules apply to those who have been apprehended and are in deportation proceedings, but have not been officially ordered out of the country by a judge. Miss Napolitano said a working group will try to come up with “guidance on how to provide for appropriate discretionary consideration” for “compelling cases” in those instances where someone has already been ordered deported.

It was unclear how many people might be affected by the new rules, though in fiscal year 2010 the government deported nearly 200,000 illegal immigrants who it said did not have criminal records.

Deportation is messy and ugly — who, for example, wants to advocate to separate illegal immigrant students, many of whom didn’t enter the country illegally of their own volition, from their families? But these new rules are entirely inappropriate, as they usurp Congress’ legislative authority. Dan Stein, president of the Federation for American Immigration Reform and quoted in the WT article, said it best: “Supporters of comprehensive and targeted amnesties for illegal aliens have consistently failed to win approval by Congress or gain support from the American public. Having failed in the legislative process, the Obama administration has simply decided to usurp Congress’ constitutional authority and implement an amnesty program for millions of illegal aliens.” This isn’t a new trend for the Obama administration, of course (DISCLOSE and DREAM, anyone?), but that only makes it that much more troubling.
"

Sales of Obama Souvenirs Plummet in Capitol: Sign of Things to Come?

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Thursday, August 18, 2011

Mother Pushes Kid to Try to Embarrass Perry (R)

Wrong on so many levels. Is this the kind of campaign we can look forward to in the coming months.

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The Deal

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From Sparta to SEAL Team 6: The Evolution of The Warrior Ethos

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Hugo Chavez Steals The Gold

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The Kids Are Not Alright: Can we Stop Flash Mob Mayhem?

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Wednesday, August 17, 2011

Soap Film Loops

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Tuesday, August 16, 2011

Randal O'Toole Discusses Privatizing Transit

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Fitch Maintains US AAA Rating, Outlook Stable

S&P is generally held in higher regard with respect to Sovereign debt then Fitch, but Fitch's rating is important for both psychological and legal reasons. There are certain requirements that portions of investment be kept in AAA rated assets. As long as one of the big rating agencies rates it AAA they can keep it.

http://news.yahoo.com/fitch-affirms-u-aaa-outlook-stable-133100156.html

"Fitch Ratings on Tuesday confirmed the United States' top-notch credit rating and, in blatant disagreement with rival Standard & Poor's, gave a vote of confidence to Washington's deficit-reduction efforts.

Fitch also kept a stable outlook on its U.S. AAA rating, less than two weeks after S&P downgraded the United States to AA-plus with a negative outlook.

The agency said, however, that it will revisit its decision at the end of the year. It threatened to slap a negative outlook on the rating at that time if lawmakers fail to implement the $2.1 trillion in savings that were agreed earlier this month or if the economy deteriorates significantly.

An outright one-notch downgrade is not ruled out, but less likely, the agency said in a statement. A negative outlook usually means a downgrade is possible in two years.
"

Obama - 'Perry (R) Has to be a Little More Careful About What he Says'

Obama's comments are fairly mild, but he risks getting pulled into the fray. I would look for Perry to do what he can to start a back and forth with Obama.

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ObamaCare, Insurance Exchanges, & The Coming Price Explosion

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Warren Buffett Wants to be Taxed More?

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Monday, August 15, 2011

Krugman - 'We Need The Threat of an Alien Incvasion to Get Out of The Recession'

If the Keynesians' have to resort to 'we need an alien invasion to prove our theory', it is well past time to throw in the towel.

Video embedded below.



"I love the war analogies. Doesn’t the Left keep blaming our current economic malaise on the two wars that George Bush started? If war was all it took to create economic growth, we’d be peaking now, wouldn’t we? And didn’t Barack Obama start a new war with Libya this year? How is the economic growth from that conflict working out?

The rest of this is just sheer idiocy. Krugman, who won a Nobel Prize in economics, somehow forgets to tell Zakaria that seizing capital from productive enterprises in taxes (or worse, borrowing against future legitimate production in deficit spending) to fund the “ditch cycle” has opportunity costs — namely, the opportunity to produce something other than pre-filled ditches, which have a real value of zero. That’s actually a significant part of what’s wrong now. Government spending doesn’t create economic growth; it takes money from actual production, and so should be used sparingly and only for necessities.

Krugman then takes Zakaria’s reductio ad absurdum and makes it more absurd by postulating that a mistaken alarm of a space invasion would create vast economic growth, which would just remain even after the Emily Litella moment when the space aliens didn’t invade. Unfortunately, the Nobel Prize-winning economist doesn’t explain what would happen when all of the assets built to meet the threat turn out to be useless and can’t be converted into productive assets for a non-space-war economy. Thanks to the massive seizure of capital it would take to create the defensive and offensive assets to meet that threat, we’d be left with little to power our economy, especially in a highly regulatory (and rationed) total-war economy.
"

Google to Buy Motorola Mobility For $12.5 Billion

Google is making some strong moves in the mobile market. This is classic vertical acquisition. I would expect them to make a play at a carrier next; say T-Mobile.

http://www.bloomberg.com/news/2011-08-15/google-agrees-to-acquisition-of-motorola-mobility-for-about-12-5-billion.html

"Google Inc. (GOOG), the biggest maker of smartphone software, agreed to buy Motorola Mobility Holdings Inc. for $12.5 billion in its largest acquisition, gaining mobile patents and expanding in the hardware business.

Motorola shareholders will get $40 a share in cash, the companies said in a statement today. That’s 63 percent more than Motorola Mobility’s closing price on the New York Stock Exchange on Aug. 12. Both boards have approved the takeover.

Larry Page, the Google co-founder who took over as chief executive officer in April, is pushing the Web company into smartphones to take on Apple Inc. (AAPL)’s iPhone and gain more clout for its Android software in the wireless business. Motorola Mobility, under pressure from activist investor Carl Icahn to shift strategy, gives Google more than 17,000 patents it can leverage in negotiations with competitors such as Apple.
"

Pakistan Let China See The US Stealth Helicopter From The Bin Laden Raid

More 'Smart Power'? This could have long term consequences. The Chinese could use the samples to create their own stealth craft or figure out countermeasure to detect ours.

http://www.ft.com/cms/s/0/09700746-c681-11e0-bb50-00144feabdc0.html

"Pakistan allowed Chinese military engineers to photograph and take samples from the top-secret stealth helicopter that US special forces left behind when they killed Osama bin Laden, the Financial Times has learnt.

The action is the latest incident to underscore the increasingly complicated relationship and lack of trust between Islamabad and Washington following the raid.
...
President Barack Obama's national security council had been discussing this incident and trying to decide how to respond. A senior official said the situation “doesn't make us happy”, but that the administration had little recourse.

As Navy Seals raided Bin Laden's compound in the military city of Abbottabad, just outside Islamabad, in May, one of their modified Black Hawk helicopters crashed into the wall of the compound, rendering it inoperable.

The Seals used a hammer to smash the instruments then rigged up explosives to detonate it in an effort to keep classified military technology secret, but the tail section landed outside the compound wall and remained intact. John Kerry, chairman of the Senate foreign relations committee, went to Pakistan two weeks after the raid to secure the tail's return.
"

Obama Appointed Federal Judge Tosses Obama's Oil Drilling Rules

This does not look good.

http://www.msnbc.msn.com/id/44127172/ns/business-oil_and_energy

"A judge on Friday threw out Obama administration rules that sought to slow down expedited environmental review of oil and gas drilling on federal land.

U.S. District Judge Nancy Freudenthal ruled in favor of a petroleum industry group, the Western Energy Alliance, in its lawsuit against the federal government, including Interior Secretary Ken Salazar.

The ruling reinstates Bush-era expedited oil and gas drilling under provisions called categorical exclusions on federal lands nationwide, Freudenthal said.

The government argued that oil and gas companies had no case because they didn’t show how the new rules, implemented by the U.S. Bureau of Land Management and U.S. Forest Service last year, had created delays and added to the cost of drilling.

Freudenthal rejected that argument.

“Western Energy has demonstrated through its members recognizable injury,” she said. “Those injuries are supported by the administrative record.”
"

Judge Nancy Freudenthal is an Obama appointee.

Gold Hits Record Price: Will a Weak Dollar Drive it Higher?

Short answer, yes. Longer answer, yeah.

Video embedded embedded below.

Sunday, August 14, 2011

Bachmann Takes Ames, But Did Rick Perry Steal The Show? Craig Robinson on Straw Poll Results

Video embedded below.

Obama's Approval Rating Drops to 39%

This is a record low for Obama, but I do not expect it to be a record low for long.

http://www.latimes.com/news/politics/la-pn-obama-approval-20110814,0,2481281.story

"President Obama's summer woes have dragged his approval rating to an all-time low, sinking below 40% for the first time in Gallup's daily tracking poll.

New data posted Sunday shows that 39% of Americans approve of Obama's job performance, while 54% disapprove. Both are the worst numbers of his presidency.

Obama's approval rating has hovered in the 40% range for much of 2011, peaking at 53% in the weeks following the death of Osama bin Laden.

But Americans' view of his job performance continued to tick downward as the debt-ceiling debate heated up. By the time he signed legislation averting a federal default, he was mired in the low-40% range.
"

Debate Thoughts, GOP Debate, And Healthcare 11th Circuit

Video embedded below.

Pawlenty Drops Out of Presidential Race

Not an unexpected move after disappointing results for him in the straw poll.

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2011/08/14/politics/p054559D49.DTL&ao=all

"Former Minnesota Gov. Tim Pawlenty dropped out of the race for the GOP presidential nomination on Sunday, hours after finishing a disappointing third in the Iowa straw poll.

"I wish it would have been different. But obviously the pathway forward for me doesn't really exist so we are going to end the campaign," Pawlenty said on ABC's "This Week" from Iowa shortly after disclosing his plans in a private conference call with supporters.
"

Saturday, August 13, 2011

Rick Perry (R) Announces he is Running For President

Video embedded below.




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David Freddoso on The GOP Debate & The Ames Straw Poll

Video embedded below.

Michele Bachmann (R) Wins Iowa Straw Poll

Great news for Backmann, does not really mapper for Paul, and may have just pushed Pawlenty toward seeking a VP slot. Impressive showing for Perry who could shake up this race.

http://www.therightscoop.com/michele-bachmann-wins-iowa-straw-poll

"Michele Bachmann is the big winner!

1. Michele Bachmann 4823 votes
2. Ron Paul 4671 votes
3. Tim Pawlenty 2293 votes
4. Rick Santorum 1657 votes
5. Herman Cain 1456 votes
6. Romney 567 votes
7. Gingrich 385 votes
8. Huntsman 69 votes
9. McCotter 35 votes

Perry had 718 write-in votes so he would have beaten Romney, Gingrich, Huntsman, and McCotter. Wow!
"

Switzerland is Crime Free, And Its All Because of Guns!

'Gun free zones' are victim or 'target rich' zones.

Video embedded below.

Wall Street Jitters: When Will Obama Learn Economics?

Video embedded below.

Friday, August 12, 2011

Resist we 'Much': Al Sharpton Needs to be Committed. Plus, The Pirates of Current TV

Video embedded below.

11th Circuit Appeals Court Rules Individual Mandate in ObamaCare Unconstitutional

While they ruled the Individual Mandate in Unconstitutional they did not rule the rest of ObamaCare Unconstitutional. We will have to wait for the Supreme Court to hear the case before how we know how this will all shake out; and there is almost no way the Supreme Court can not take up this issue.

http://www.reuters.com/article/2011/08/12/us-usa-healthcare-idUSTRE77B4J320110812

"The U.S. Appeals Court for the 11th Circuit, based in Atlanta, ruled 2 to 1 that Congress exceeded its authority by requiring Americans to buy coverage, but it unanimously reversed a lower court decision that threw out the entire law.

The legality of the individual mandate, a cornerstone of the healthcare law, is widely expected to be decided by the U.S. Supreme Court. Opponents have argued that without the mandate, which goes into effect in 2014, the entire law falls.

The law, adopted by Congress in 2010 after a bruising battle, is expected to be a major political issue in the 2012 elections as Obama seeks another term. All the major Republican presidential candidates have opposed it.
"

Fighting Youth Discrimination

Video embedded below.

American Hardship!

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Thursday, August 11, 2011

Wednesday, August 10, 2011

Dow Drops 4.62%

The markets can not seem to make up its mind which way they want to go, but they know they want to get there in hurry.

http://www.bloomberg.com/news/2011-08-10/asian-stocks-commodities-gain-on-fed-s-pledge-to-keep-interest-rates-low.html

"Stocks slid, dragging the Dow Jones Industrial Average to the lowest level since September 2010, and Treasuries rose for a third day amid concern the European sovereign debt crisis is worsening. The dollar climbed versus 13 of 16 major peers, with the euro losing 1.3 percent to $1.4190. Gold futures surged to a record above $1,800 an ounce.

The Dow sank 519.83 points, or 4.6 percent, to 10,719.94 at the 4 p.m. close in New York. The Standard & Poor’s 500 Index sank 4.4 percent to 1,120.76 following its biggest jump in more than two years yesterday, when it rebounded from its worst loss since 2008. The Stoxx Europe 600 Index plunged 3.8 percent as Societe Generale SA sank 15 percent. Ten-year Treasury yields, which touched an all-time low yesterday, fell 16 basis points to 2.09 percent after an auction drew a record-low yield. Costs to protect French debt reached a record.
"

Excessive Criminal Laws Trap Honest American Businessman

Video embedded below.

Dylan Ratigan (MSNBC) Unleashes on the Democrats And Republicans

Wait for it...

Video embedded below.

Pennywise, Dollar Smart: Can The Mack Penny Plan Balance The Budget?

These are real cuts. These are not the fake DC, 'I am spending less then I was planning on spending, so even though I am spending more this year then last I will call it a cut'.

Video embedded below.

Will Wisconsin GOP Win Bring The Unions to Sanity?

The Republicans did keep control, but they also did lose two seats. Next week the Republicans will have a crack at a few Dems and it is in the aftermath of that we will really be able to see which side did better.

Video embedded below.

Tuesday, August 9, 2011

Dow up 3.98%

It was a wild ride, but the Dow closed up just under 4% on the day.

http://www.bloomberg.com/news/2011-08-09/asian-stocks-drop-as-yen-treasuries-gain-on-recovery-concern-gold-climbs.html

"U.S. stocks jumped the most in more than two years, rebounding from the worst drop since 2008, and 10-year Treasury yields touched a record low as the Federal Reserve vowed to keep interest rates near zero through mid-2013. The dollar weakened and the Swiss franc rose the most since at least 1971.

The Standard & Poor’s 500 Index jumped 4.7 percent to 1,172.53 at 4 p.m. in New York, its biggest gain since March 2009, after tumbling 6.7 percent yesterday. The 10-year Treasury yield fell as much as 28 basis points to 2.03 percent before trimming its decline. The Dollar Index slid 1.2 percent, its biggest drop since October, while the Swiss franc strengthened as much as 6.5 percent to a record $1.4099.
...
The Dow Jones Industrial Average rallied 429.92 points, or 4 percent, to 11,239.77 for the biggest percentage gain since the month the bull market began in March 2009. The Dow’s advance today was the 10th largest point-gain in the history of the index, according to Bespoke Investment Group LLC. All 30 stocks gained at least 0.8 percent.
"

"Dow 11,239.80 +429.92 3.98%
S&P 500 1,172.53 +53.07 4.74%
Nasdaq 2,482.52 +124.83 5.29%
"

Guns, Laws, And Panics: How Fear, Not Fact, Informs The Gun Rights Debate

Video embedded below.

Liberal Hypocrites Among us: Biden Accuses Tea Party of Acting Like Terrorists

Video embedded below.

Reid Appoints John Kerry, Patty Murray, And Max Baucus to Super Committee

The Democratic half has been chosen. Not exactly a group of compromisers. The Republicans will almost certainly follow suite (not that the Republican choices would be different if they went first). What are the odds on reaching a deal?

http://hotair.com/archives/2011/08/09/breaking-reid-appoints-john-kerry-patty-murray-and-max-baucus-to-super-committee

"That’s precisely what we need to reach a grand bargain. Hard-left dial tone Patty Murray and a guy who spent the past Sunday muttering in front of TV cameras about a “tea-party downgrade.” Bonus fun fact about Murray via Amanda Carpenter: She’s the head of the DSCC this election cycle, which means there ain’t no way no how no chance she’s signing off on any deal that involves even minor Medicare reform.

Not sure what to make of Baucus, though.
"

SEAL Team Six Down: America Loses Some of Its Bravest And Best Trained Warriors

Video embedded below.

Monday, August 8, 2011

All Work And no Play Makes Obama Go Away

Video embedded below.

Obama's Statement on Credit Downgrade

No real substance; he looks totally out of his depth.

Video embedded below.



Also, what is with the tardiness on his speeches?

Dow Drops 5.55%, S&P Falls 6.66%, Nasdaq Loses 6.90%

The markets did not respond well to the Downgrade .

http://www.washingtonpost.com/business/markets/dow-loses-634-its-sixth-biggest-decline-as-worried-investors-flee-stocks-around-the-world/2011/08/08/gIQASoC82I_story.html

"The stock market buckled Monday under the weight of a crisis in Europe and danger of recession at home. Reeling from a downgrade of American debt, the Dow Jones industrials plunged 634 points.

It was the worst day for the market since the financial crisis in the fall of 2008 and extended Wall Street’s sudden, sharp decline. Stocks have lost 15 percent of their value in just two and a half weeks.
"

http://www.cnbc.com/id/44058141

"Stocks took a sharp nosedive in another choppy day Monday to finish at session lows as investors fled from risky assets following S&P's downgrade of U.S.'s credit rating last week in addition to ongoing economic jitters.

The Dow Jones Industrial Average plunged 634.76 points, or 5.55 percent, to finish at 10,809.85, well below the psychologically-significant 11,000 mark. The move marks the blue-chip index's biggest point and percent drop since Dec. 1, 2008.
...
The S&P 500 plummeted 79.92 points, or 6.66 percent, to close at 1,119.46, its lowest close since Sept. 10, 2010.

Nasdaq sank 174.72 points, or 6.90 percent, to end at 2,357.69, its lowest close since October 4, 2010.
"

Hijacking Terrorist Hobbit Muggers! Plus, Bashing Bashir: MSNBC Has a New Primetime Loon

Video embedded below.

Sunday, August 7, 2011

America-by-The-Numbers: Jobs, Jobs, Jobs, Jobs, Jobs

Video embedded below.

Unemployment Drops to 9.1%

Sounds like good news, but the reason for the news is anything but. The decline in unemployment rate comes from the way the unemployment is calculated. It was 193,000 people leaving the labor force that is primarily responsible for the decline.

http://hotair.com/archives/2011/08/05/jobless-rate-dips-to-9-1-117k-jobs-added-in-july

"The US economy produced a net gain of 117,000 jobs in July, cutting the jobless rate a tenth of a point to 9.1%, according to today’s report from the Bureau of Labor Statistics. That beats economists’ predictions of a net gain of 85,000 jobs and maintaining the 9.2% jobless rate from June. The news comes as a welcome, if very mild, positive surprise after yesterday’s falloff on Wall Street.
...
According to Bloomberg, the decline in the jobless rate comes from a decline in the work force:

Payrolls rose by 117,000 workers after a 46,000 increase in June that was more than originally estimated, Labor Department data showed today in Washington. The median estimate in a Bloomberg News survey called for a July gain of 85,000. The jobless rate dropped to 9.1 percent as more Americans left the labor force, while average hourly earnings climbed 0.4 percent.

That’s one reason why the actual report comes in handy — and why the BLS servers should have been bolstered for the traffic today.

Update II: More from Bloomberg:

The jobless rate declined as 193,000 people left the labor force and the number of unemployed dropped by 156,000. The share of the eligible population holding a job declined to 58.1 percent, the lowest since July 1983.

Don’t expect much cheering over this report on Wall Street, even if you hear it from Pennsylvania Avenue.
"

To put this in the contexts of the last two years; after rising to %9.5, 'fake' falling to %9.4, rising to %9.7, and then rising again to 9.8%, and rising again to 10.2%, dropping to 10%, held steady, dropping to 9.7%, held steady, held steady again, increased to 9.9%, dropped to 9.7%, fell to 9.5%, holding steady, rising a tick to 9.6%, held steady, held steady again, increased to 9.8%, 'fake' falling to 9.4%, 'fake fallen' again to 9%, dropped to 8.9%, falling again to 8.8%, rose to %9, rose to %9.1, rose again to %9.2, and has now fallen to 9.1%.

David Frum Thinks The GOP is Smashing The System. Wrong.

Video embedded below.

Tel Aviv Stock Markets Fall 7%

Call this a bad omen of what may happen to US Markets when they open up tomorrow morning; the first day of trading after the S&P downgrade.

http://www.reuters.com/article/2011/08/07/telavivstocks-idUSL6E7J702O20110807

"Tel Aviv shares closed nearly 7 percent lower on Sunday in the first response of a developed market to Standard & Poor's downgrade of the United States' credit rating that has sparked fears of another global recession.

The Israeli market along with a few emerging markets in the Middle East were the first to trade after S&P late on Friday cut the U.S. long-term credit rating by a notch to AA-plus from AAA due to concerns about the country's budget and climbing debt burden.

The TA-25 .TA25 blue-chip index closed down 6.99 percent to 1,074.27 points and is down 18 percent since the start of the year. The broader TA-100 .TA100 slid 7.2 percent.
...
The Tel Aviv market opening was delayed by nearly an hour as circuit breakers kicked in when shares fell more than 5 percent in pre-market trade.

The last time circuit breakers were used was on Sept. 21, 2008, after the collapse of Lehman Brothers, a stock exchange spokeswoman said.
"

I See Debt People! And if The Hobbits Are Terrorists, What Are Democrats?

Video embedded below.

Friday, August 5, 2011

Meet The New World Order, Same as The Old World Order

Video embedded below.

The Fake Civility Project With Froma Harrop

Video embedded below.

The Price of a US Credit Rating Downgrade

Video embedded below.



It did change.

S&P Downgrades US Credit Rating to AA+

Welcome to the economic Singularity. For the first time in history, the United States debt has been downgraded. The economic prosperity of the last half century has been predicated on US Treasury Bills being considered 'safe'. All other investments were measured against it to calculate if the interest above the safe rate justified the risk. We are in uncharted territory here and things have the potential to go really bad, really fast, even in comparison to what we going through now.

The downgrade has nothing to do with how the debt deal got done. The deal is signed, it did not cause the US to default, and we were never in any real danger of defaulting on our debt obligations. The downgrade is because of our debt, a debt which is now larger then our GDP, and getting worse by the second. We were downgraded because our political class has decided that we can deficit spend ourselves into oblivion and that will somehow bring about prosperity. It has not, and it will not. It may have started getting bad under Bush, but when the Democrats took control of the Legislature and Obama took the White House they may Bush look like a fiscal conservative.

This is what that spending has earned us and we have precious little time to turn it around. We need real spending cuts, not fake Washington; 'we are spending less than we had planned on spending, so even though it is more money than last year (even adjusted for inflation) we will call it a cut'. We need real economic reform that will let entrepreneurs and small business create jobs so we can grow our way out this mess.

Unfortunately I do not have much hope for change with our current leaders. We need to finish in 2012 what we started in 2010, because that may be our last chance to avert a real cataclysm. That is, if we have that long...

You can read the S&P report here (PDF) (via)

http://online.wsj.com/article/SB10001424053111903366504576490841235575386.html

"A cornerstone of the global financial system was shaken Friday when officials at ratings firm Standard & Poor's said U.S. Treasury debt no longer deserved to be considered among the safest investments in the world.

S&P removed for the first time the triple-A rating the U.S. has held for 70 years, saying the budget deal recently brokered in Washington didn't do enough to address the gloomy long-term picture for America's finances. It downgraded U.S. debt to AA+, a score that ranks below Liechtenstein and more than a dozen other countries, and on par with Belgium and New Zealand.

The unprecedented move came after several hours of high-stakes drama. It began in the morning, when word leaked that a downgrade was imminent and stocks tumbled. Around 1:30 p.m., S&P officials notified the Treasury Department that they planned to downgrade U.S. debt and presented the government with their findings. Treasury officials noticed a $2 trillion error in S&P's math that delayed an announcement for several hours. S&P officials decided to move ahead anyway, and after 8 p.m. they made their downgrade official.

S&P said "the downgrade reflects our opinion that the fiscal consolidation plan that Congress and the administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics." It also blamed the weakened "effectiveness, stability, and predictability" of U.S. policy making and political institutions at a time when challenges are mounting.
"

http://www.washingtonpost.com/business/economy/sandp-considering-first-downgrade-of-us-credit-rating/2011/08/05/gIQAqKeIxI_print.html

"Standard & Poor’s announced Friday night that it has downgraded the United States credit rating for the first time, dealing a huge symbolic blow to the world’s economic superpower in what was a sharply worded critique of the American political system.

Lowering the nation’s rating one-notch below AAA, the credit rating company said “political brinkmanship” in the debate over the debt had made the U.S. government’s ability to manage its finances “less stable, less effective and less predictable.” It said the bi-partisan agreement reached this week to find at least $2.1 trillion in budget savings “fell short” of what was necessary to tame the nation’s debt over time and predicted that leaders would not be likely to achieve more savings later on.

The decision came after a day of furious back-and-forth between the Obama administration and S&P. Government officials fought back hard, arguing that S&P made a flawed analysis of the potential for political agreement and had mathematical errors in its initial report, which was submitted to the Treasury earlier in the day. The company had overstated the U.S. deficit over 10 years by $2 trillion, officials said.

“A judgment flawed by a $2 trillion error speaks for itself,” a Treasury spokesperson said Friday.

The downgrade will push the global financial markets into uncharted territory after a volatile week fueled by concerns over a worsening debt crisis in Europe and a faltering economy in the United States.

The AAA rating has made the U.S. Treasury bond one of the world’s safest investments — and has helped the nation borrow at extraordinarily cheap rates to finance its government operations, including two wars and an expensive social safety net for retirees.

Treasury bonds have also been a stalwart of stability amid the economic upheaval of the past few years. The nation has had a AAA rating for 70 years.

Analysts say that, over time, the downgrade could push up borrowing costs for the U.S. government, costing taxpayers tens of billions of dollars a year. It could also drive up interest rates for consumers and companies seeking mortgages, credit cards and business loans.
"

Thursday, August 4, 2011

Dow Plunges 512 (4.3% Drop)

Meltdown...

http://money.cnn.com/2011/08/04/markets/markets_newyork/index.htm

"Stocks plunged Thursday in their single worst day since the 2008 financial crisis.

The Dow tumbled 512 points -- its ninth deepest point drop ever -- as fear about the global economy spooked investors.
...
There's "total fear" in the market, said Bob Doll, chief equity strategist at the world's largest money manager, BlackRock.

All three major indexes tumbled more than 4% Thursday and erased all their gains for the year. The indexes have also pushed into "correction" territory -- defined as a 10% drop from recent highs. The Dow, Nasdaq and S&P 500 have all fallen 10% in just the last 10 days.
"

How The Universe Appeared From Nothing

Video embedded below.

Another Lemonade Stand Shut Down by Authorities

Do officials really have nothing better to do?

Video embedded below.

Rawesome Foods Raided... Again!

Video embedded below.

Rich Man, Poor Man

Video embedded below.

Wednesday, August 3, 2011

American Individualism & Winning The Millennials: Margaret Hoover Says The GOP Can Win Youth

Video embedded below.

Busting Congestion in Chicago (or Any Other City)

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US Debt Tops 100% of GDP

The entire economic output of our economy for a full year would no longer be enough to pay off our debt. Someone tell me again how this was the solution to our problem...

http://news.yahoo.com/us-aaa-rating-still-under-threat-204040123.html

"US debt shot up $238 billion to reach 100 percent of gross domestic project after the government's debt ceiling was lifted, Treasury figures showed Wednesday.

Treasury borrowing jumped Tuesday, the data showed, immediately after President Barack Obama signed into law an increase in the debt ceiling as the country's spending commitments reached a breaking point and it threatened to default on its debt.

The new borrowing took total public debt to $14.58 trillion, over end-2010 GDP of $14.53 trillion, and putting it in a league with highly indebted countries like Italy and Belgium.

Public debt subject to the official debt limit -- a slightly tighter definition -- was $14.53 trillion as of the end of Tuesday, rising from the previous official cap of $14.29 trillion a day earlier.
"

Obama Forges a Debt Deal ... With Terrorists?

What ever happened to the cries for civility...

Video embedded below.

Tuesday, August 2, 2011

Customized Favicon For The Berman Post

You may have noticed that the Berman Post now has a custom Favicon. For those unfamiliar with the term, it is the tiny image you see in the tabs of your browser. Here is the enlarged version.

Picture embedded below.



http://buzz.blogger.com/2011/08/latest-updates-august-1st.html

"Favicon graduates from Draft
As we announced on the Blogger in Draft blog earlier this month, we now offer an easy tool for creating custom favicons on your Blogger blog. We’re happy to announce today that this feature is now available to all Blogger users.
"

Obama's Statement on Debt Bill

It took him barely a minute to get back to calling for tax hikes. He still does not get it.

Video embedded below.

Stocks Tumble Despite (or Because?) of The Debt Bill Passing

Seems like people understand that the debt is still a real problem. This is not a good sign.

http://www.theblaze.com/stories/dow-plummets-266-points-amid-faltering-economy

"A sell-off is erasing all of the year’s gains in the stock market.

The Standard & Poor’s 500 lost 2.6 percent Tuesday as investors grew increasingly concerned about the economy. The benchmark index is now at its lowest point of the year.

A report that consumers cut their spending in June for the first time in two years added to a series of weak economic indicators have pushed stocks lower for seven straight days.

The S&P is closing down 33 points to 1,254. The Dow Jones industrial average is down 266, or 2.2 percent, to 11,867. The Nasdaq is down 75, or 2.8 percent, to 2,669.

Four stocks fell for every one that rose on the New York Stock Exchange. Volume was higher than average at 5.3 billion shares.
"

On Debt Ceiling, Congress Defers Tough Decisions

Video embedded below.

Debt Deal Passes in Senate (74-26) And Signed by Obama

The threat of a technical default it gone. The problem is not the debt ceiling, it is the debt. This may end up making it worse.

http://www.politico.com/news/stories/0811/60503.html

"Treasury won an immediate reprieve of $400 billion in new borrowing authority Tuesday, as the Senate gave final approval to a hotly contested debt and deficit-reduction agreement hammered out with the White House Sunday night.

The bipartisan 74-26 roll call followed a 269-161 vote in the House Monday evening and the bill was quickly signed by President Barack Obama, ending an unprecedented, hard-edged political struggle that pushed the nation to the brink of default.
"

Monday, August 1, 2011

The Spending is Nuts

Power Line Prize $100k winner!

Video embedded below.

Giffords (D) Returns to Cast Her First Vote Since The Shooting on The Debt Ceiling Bill

Inspiring.

Videos embedded below.



Visit msnbc.com for breaking news, world news, and news about the economy



Past related post:
Berman Post: Gabrielle Giffords (D) Shot in The Head
Berman Post: Jared Laughner Identified as Shooter of Gabrielle Giffords (D)
Berman Post: Jared Laughner (Shooter of Gabrielle Giffords (D)) MySpace Page Found, Now Removed
Berman Post: Arizona Chief US District Judge John Roll Confirmed Killed by Jared Loughner
Berman Post: Obama on Jared Loughner's Shooting Spree (Gravely Injuring Gabrielle Giffords And Killing John Roll)
Berman Post: All Legislation in Considered by The House Being Postponed Due to Jared Loughner's Shooting of Gabrielle Giffords (D)
Berman Post: Heart Wrenching Interview of Mother of Slain 9-Year-Old (Shooting Victim of Jared Loughner)
Berman Post: Hillary Clinton - 'Jared Loughner's Shooting of Gabrielle Giffords Was Political Extremism Similar to Al Qaeda'
Berman Post: Rahm Emanuel (D) - 'Never Let a Crisis go to Waste Comment Not Intended And Does Not Apply to Loughner's Shooting of Giffords'
Berman Post: Word Cloud of Obama's Memorial Speech For The Tucson (Arizona) Shooting
Berman Post: Obama's Memorial Speech For The Tucson (Arizona) Shooting
Berman Post: Jared Laughner's VideoTour of Pima Community College Campus
Berman Post: Obama's Memorial Speech For Tucson (Arizona) Shooting Featured "Applause" Instruction?
Berman Post: Organs of Laughner's Youngest Victim Used to Save Little Girl's Life
Berman Post: The Week in Stupid: Cable Pundits on The Loughner's Shooting Spree
Berman Post: Mark Levin Offering 100k if Someone Can Prove he or Palin Promoted Murder of Anyone (Non-Terrorist) And Threatens Suit For False Allegations
Berman Post: Giffords (D) Transfer to Houston Went Flawlessly
Berman Post: Kelly Remains Commander of Space Shuttle Endeavour Mission
Berman Post: Gabrielle Giffords Speaks
Berman Post: Loughner Declared Mentally Incompetent to Stand Trial
Berman Post: First Photos of Giffords (D) Since Shooting

Conservative PAC Says no to Gay Conservative Group?!? GOPROUD

This is major blunder, and an unforced one at that.

Video embedded below.

Biden Likens Tea Partiers to Terrorists

Is it to much to ask for some civility from the Vice President?

http://www.politico.com/news/stories/0811/60421.html

"Vice President Joe Biden joined House Democrats in lashing tea party Republicans Monday, accusing them of having “acted like terrorists” in the fight over raising the nation’s debt limit, according to several sources in the room.

Biden was agreeing with a line of argument made by Rep. Mike Doyle (D-Pa.) at a two-hour, closed-door Democratic Caucus meeting.

“We have negotiated with terrorists,” an angry Doyle said, according to sources in the room. “This small group of terrorists have made it impossible to spend any money.”

Biden, driven by his Democratic allies’ misgivings about the debt-limit deal, responded: “They have acted like terrorists.”
"

Update: Biden denies

House Approves Debt Deal (269-161)

Looks like we may just avoid a technical default. It will take a few days for the dust to settle to see who really came out on top. That is the nature of these last minute deals, and why a certain President promised to give people time to read the bills before they were voted on; a promise broken once again.

http://www.reuters.com/article/2011/08/01/usa-debt-idUSN1E76U0F520110801

"The House of Representatives on Monday approved an 11th-hour deal to raise the U.S. borrowing limit, clearing the biggest hurdle to averting a potentially catastrophic U.S. debt default.

Just one day before the deadline to lift the debt ceiling, the passage by 269 votes to 161 by the Republican-controlled House paved the way for an expected approval in the Senate of a $2.1 trillion deficit-cutting plan hammered out over the weekend.

The Democratic-led Senate was expected to vote on the plan on Tuesday.
"
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