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More bank woes. We may be two thirds of the way through the losses, but it could also be as little as half. And despite the stress test baloney, the banking system is undercapitalized by a large margin..
Consumers tapped out. The lousy retail sales report was a reminder of a rather central fact most have chosen to forget.
Foreclosures set to rise. We are not having a housing bounce.
More AIG losses, I am told more AIG losses are in the offing.
Lack of political leadership. The health care fiasco is going to be a defining event for Obama, in a negative way. His inability to respond effectively to simply absurd distortions of his plan and of the record of public supported programs overseas (including that many are government funded but still privately run, for instance) may dispel the illusion that he is or can be an effective leader. His banking policy, which is vital to recovery, became hostage to Geithner and Summer's deep loyalty to the industry, and his lack or interest in rocking any boats. All Team Obama has done on the banking front is write a lot of blank checks, hold some bogus "stress tests" in lieu of doing the real thing, and raise a stink on a few symbolic issues to try to paper over the failure to embark on real and badly needed reforms.
Ed Harrison has called him a black Herbert Hoover. If the economy takes another down leg, it will further confirm his inability to do anything other than compromise and try to spin it as success. The confidence game worked when he was a new President, but nice talk and not much action is already wearing thin. We could use someone at the helm who is willing to plot a course and stick with it, and instead what we have is someone long on charisma and short on resolve.
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Absurd distortions of the public health plan my ass.
ReplyDeleteIt is the FIRST STEP in the road to socialized medicine, which is a freaking BOONDOGGLE, and has been everywhere it's been tried. It is simply unsustainable except in small, homegenized European countries where people are mostly alike and live in smaller communities. This isn't so in America and that's one reason it will never, ever work here.
It will work to enrich government coffers while adding to our demise.
ReplyDeleteThe inclinations of human beings has changed little since the found of this country. Our current day media culture has brainwashed a segment of our population who think they have a "right" to their neighbors money for food, housing and now healthcare. It is a unsustainable model. At least if economic growth is a stated goal of the government.
ReplyDeletePlease, you all know that the health care plan has been distorted. Really, you all think the death panels thing and comparisions to Hitler isn't just a tad bit distorted. The health plan is bad, but the arguements made against it where down right crazy and the Obama administration still couldn't defend it. That is why the President is in trouble. They couldn't make a defense against the crazies let alone those who had valid, legitamite ponts.
ReplyDeleteWhere to start...a lot of us like to be anonymous. The US economy is dead and the World economy is even worse off. We have guns, land to grow things and a history of revolting against tyranny. The rest of the World has only one thing up on us - they have been screwed by the bankers for a lot longer and appear to be at least as pissed off as many Americans are now demonstrating.
ReplyDeleteBanking has become a criminal enterprise so let's use RICO to sieze all the booty, pay off all debt to the honest creditors, supplant our fiat with a new currency system based upon gold, silver and organically grown food, repeal all unconstitutional laws and regulations, put some of those FEMA Prison Camps to good use by locking up the bad guys and start all over.
Obama is a bad joke. Congress, on the whole, is even worse. Our National Government and the MSM have prostituted themselves to the World financial elite. If they want to sell it (health care/insurance reform, cap and trade, more bail outs, more taxes, etc.) let us not buy it.
Here in Oklahoma it is a felony to use force to attempt to overthrow either our State Constitution or the U. S. Constitution. It is also illegal to assist or be an accomplice. Anyone think helping to finance State prosecutions of the bankers and their minions would be a good investment for our shared future?
Obama's chief science advisor is a eugenisist. "W's" chief science advisor was, too. The government allows our food, our water and our air to be intentionally poisoned, causing sterility and worse. By poisoning us, they have created the problem. The total control over our health care is the ultimate plan. The outcome is either we become dead or enslaved. It's the classical NWO con-job: create the problem, sell a solution and achieve the most profitable reaction. What's really wrong with health care is the system does not admit it is a major part of the problem. Doctors, hospitals, big pharma and the health care industry as a whole kill more people annually than the U. S. had die in WW I and II, combined. They are all making money so why spill the beans about how our government is a willing accomplace in our collective poisoning through food, air, water and pharmacological/chemical agents. Why prevent or cure illness when you can make continued profit from it? This is enough to make me sick.
ReplyDelete"Respond effectively to simply absurd distortions...?" I think it is really a matter of "respond(ing) truthfully to absurd plan provisions..." If you trust "O" and Co. I have some land to sell you...
ReplyDeleteIt is crazy to think the arguments made against the Socialistic Health Care Scheme have no merit. None of us has read the bill(s), our Congressional Representatives hadn't read the bills(s) when they announced their support, it was written by unknown lobbiest, Obama wanted it passed before it could be fully debated and those in the alternative media who seem to report the truth a bit more than MSNBC and the like state clearly the bill sucks for all the reasons the "crazies" have argued. So you crazy thinker up there, stop trolling in here.
ReplyDeleteAnon at 11 16 the arguments the crazies have made are all false, I have read the bill, no death panels, grandma will not die, no abortions, no illegals getting care, all of those fake arguments were put forward by corporations that dont want to lose their grip on profits, and they have the right wing loony jesus fuckers to lie to, so they can carry their water, Period.
ReplyDeletebush.........america,
ReplyDeleteYou have read the bill? I doubt it. Even if you have read all the various versions, I am certain you did not study the bill(s) enough to understand them. It would take a very long time to read them and have any idea what they really mean - they are written in lawyerspeak - I know, I am a lawyer. I took a gander and recognized it would take most lawyers, studying alone, a month to understand the three versions I have come across. Two days wouldn't even come close. So to understand what is in the bills, you have to take a few shortcuts. Grandma, Grandpa, you and the kids are already being killed - a little bit every day. It is called a soft kill. You are poisoned in your food and water, in the air you breath and in so many of the products sold that come into contact with your skin. The main reason we have about 20% of the adults on one or more psychtropic drugs is that people are toxic and have the symptoms of depression and/or anxiety. Wake up, eugenics is the new religion of the elite. Look up the Georgia Guidestones. Their health care bill promises to limit care, invade privacy and diminish freedom. It will help achieve a more structured "slave state." Research more with a lot less of a hard-on for Obama. No sale here - stop drinking the cool aid.
Bush II is a Nazi, yes, his whole family is, too. Look up his Grandaddy Prescott - he financed Hitler, was charged and then was let off. Obama is a lacky for the same basic crowd, the international bankers and super-rich. He talks like a socialist but acts like a fascist. Fascist and nazis are two peas in a pod with the nazis being a bit more into the eugenics thing. That's where Obama is being played for a fool as I doubt he understands he'll be sacrificed if necessary to help bring in the NWO. You think we are crazy, well I think you are a bit naive and ill-informed. The time is comming when you will have to make some life and death choices. Don't be a fool.