Category Archives: Economy/Money

IMF Continues Call For Global Currency

Dominique Strauss-Kahn, the head of the International Monetary Fund (IMF), announced last week that the IMF is preparing to one day heed the call for a global reserve currency to take the place of the dollar.  This is worrisome considering that the Euro, which used to do better than the dollar, is tanking in Europe.  Strauss-Kahn in a speech said, “That day has not yet come, but I think it is intellectually healthy to explore these kinds of ideas now.”  The IMF has already moved to using a basket of currencies and plans to use that same method of special drawing rights to set up a global currency.  Last year, both China and Russia called for a move away from the dollar and Vladimir Putin even carried around a coin that he referred to as a new global currency. 

The nations of the world were locked together in a global economy after World War II to prevent a future world war.  Thus, whenever one country starts to falter, every country is affected.  The IMF was formed in 1944 at this time to oversee this global financial system. The IMF has grown from 45 original members to 186 countries.  One person’s idea of a global system to prevent war is another person’s way of implementing a new world order after a global economic collapse.

If you think that a global currency is far off in the distant future, than it is time to wake up.  There are organizations like the Single Global Currency Organization that are already pushing for a global currency to meet the demands of a global economy.  Their website states, ” The Single Global Currency Association was incorporated in June, 2003 in the U.S. State of Maine.  Morrison Bonpasse is the first President of the Association, with his term running through 2015.   He publicly declared his support for the Single Global Currency during his campaign for State Representative in 2002.” 

Paul Volcker, former Federal Reserve Chairman, actually made that statement for the need of a global currency.  Keep in mind that Volcker is the Chariman of President Obama’s Economic Recovery Advisory Board.  The systematic dismantling of America’s free market system by the government makes it very apparent that there is an effort to push the world into an economic emergency that would birth a new global currency.  And what better to run a global currency, than a global government?

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Scott Brown Lied

The thunderous applause for the election of Scott Brown to the Senate seat held by Teddy Kennedy for four decades is coming to an abrupt halt.  Conservatives like myself, applauded the election despite the fact that Brown is moderate on social issues because he presented himself during the campaign as a fiscal conservative.  Apparently, he was lying.  Just another typical politician making good on the only thing politicians are really good at: lying.

Yesterday, the Republicans were filibustering Porkulus II, otherwise known as the Jobs Bill.  But at the end of the day, four GOP Senators helped advance the measure to a final vote tomorrow on a 62-30 vote.  The typical RINOs, Olympia Snowe, Susan Collins and George Voinivich, were three of the votes.  The fourth belonged to Scott Brown.  My how quickly the leopard changes his spots.  What is fisically responsible about a bill that at best would create 250,000 jobs?  The tax breaks in this bill are laughable and not enough to get uncertain small businesses to start hiring.  Many of the jobs are for temporary highway projects.  I am pretty sure that is what Porkulus 1 was all about.  Even Democrat Ben Nelson voted against the measure.

Scott Brown defended himself by commenting, “I came to Washington to be an independent voice, to put politics aside and to do everything in my power to help create jobs for Massachusetts families.  This Senate jobs bill is not perfect … but I voted for it because it contains measures that will help put people back to work.”  Yeah, good one Scott.  You keep up with that bi-partisanship that recklessly increases big government.

And We Thought The Budget Could Not Get More Bloated

This is completely mind boggling to me!  Did I step off of planet Earth for a minute and just imagine that the President has been characterizing himself as a deficit hawk?  The President has spent the better part of his presidency pointing back at President Bush and blaming him squarely for our financial woes and the huge deficit that met Obama at the door.  Pssst…Mr President, I think you missed the fact that Democrats controlled Congress for the last two years of Bush’s presidency and I am pretty sure that document you threw out in the trash bin behind the White House gives the spending power to Congress.  And now the President has presented his supposedly “spending freeze” budget to Congress and it comes in at a whopping $3.8 trillion dollars!

With a 2011 budget this large, one just knows there are little goodies stuffed into this thing.  Let’s see, the President thinks he is going to tax the wealthy more to help pay for his spending.  During the State of the Union, he bragged about his tax cuts and promised more for small business.  But many small businesses will fall under this new tax bracket of making over $250,000 annually.  The President promised to cut capital gains taxes for small businesses.  Unfortunately, that means nothing since the Bush tax cuts will go away at the same time, making this a complete wash.  The rich will also be limited in their itemized deductions.  Sure sounds “fair” to me.

There is an additional $100 billion in spending for job creation.  So by the time we get to 2011, this will be Porkulus Bill number 75?  This budget promises to add to the deficit.  So much for pointing back at Bush.  This year, the deficit will be $1.6 trillion and last year was $1.4 trillion and 2011 is projected to be $1.3 trillion.  That is if he can fund the budget.  I already pointed out he wants to soak the rich, which will not work, but he has another plan as well.  Despite the fact that Crap & Tax appears to be all but dead in the Senate, the President has funds raised from carbon credits in his budget.  That’s right, either the President knows something we don’t know – possibly an Executive Order to implement Crap & Tax? – or he is trying to pull a fast one.

Mark Tapscott, writing for the Washington Examiner said, “Whether it’s the $650 billion projected by the Senate bill or the $873 billion of the House bill, it appears highly unlikely, to put it charitably, that either measure will make it to Obama’s desk with the cap-and-trade program intact. That means Obama will be counting phantom revenue as part of his next federal budget proposal.  But then Obama’s $787 billion economic stimulus program has produced two million phantom jobs located in phantom zip codes in phantom congressional districts, so perhaps nobody should be surprised to see phantom revenues in a White House budget proposal.”

Despite the fact that projections show the deficit continuing to lower each year until 2020 when the deficit will be around $800 billion dollars, reality reveals something else that has me questioning if our economy can truly recover with Progressives at the helm. Estimates have the publicly held debt doubling to $18.5 trillion by 2020.  And the interest on our debt will quadruple to more than $800 billion by 2020.

The budget also contains the Tenth Amendment defying guarantee to spend $25 billion to provide state governments with six additional months of help paying their Medicaid bills.

We have watched politicians on both sides of the aisle spend our money irresponsibly and every year the deficit continues to hold above the trillion dollar mark and the national debt balloons.  I have no doubt that if John McCain were the president instead, that the budget would not be much better.  It is up to us on the grassroots level to stop this wasting of our hard earned dollars.

Freedom’s Wings 2009 Year In Review

First black president inaugurated.  Remember these empty words from the speech: “On this day, we come to proclaim an end to the petty grievances and false promises, the recriminations and worn out dogmas, that for far too long have strangled our politics.”  He promised to “begin again the work of remaking America.”  My how he has begun that by remaking us into his community organized Marxist utopia.  And the lies continued with, “And those of us who manage the public’s dollars will be held to account – to spend wisely, reform bad habits and do our business in the light of day – because only then can we restore the vital trust between a people and their government.”

The President goes on to spend more in his first year than all other presidents combined.

Auto bailouts.  General Motors (GM) becomes Government Motors as the government becomes the majority shareholder.  President Obama, in an unprecedented move, fires the CEO of GM.

Insurance giant AIG almost goes under, but the government comes to the rescue again and provides a large bailout.  AIG subsequently passes out large bonuses to executives and parties big time on our dime.  “Outraged citizens” are bused around by ACORN to the different executives homes in staged demonstrations.

Obama spent the year circling the globe, apologizing for America everywhere he went.  Who can forget the Cairo Speech, UN speech, bows to Saudi King, Japanese Emperor and Chinese Premier and handshake with Hugo Chavez?

The President moves the Census from the Department of Commerce to the White House and attempts to have ACORN run it.

Obama does away with enhanced interrogation techniques and orders that only the Army Field Manual will be employed leading to…

No more “War on Terror”.  It is now dubbed the Overseas Contingency Operation and terrorists become enemy combatants and then just criminals.  Terrorists acts become “man-made disasters .”  In that vein, the decision is made by Attorney General Holder to try the 9/11 terrorists in New York City.  Obama begins to realize his dream of closing GITMO by releasing Jihadists to Bermuda and having the government buy a prison in Illinois where the detainees will be moved.

Attorney General Eric Holder also drops charges on Black Panthers who intimidated people at polling places and in a speech refers to America as a “nation of cowards.”

Maoists and Marxists are revealed to be rampant in the Obama administration.  Green Jobs Czar Van Jones steps down as well as Anita Dunn who declared Mao to be one of her heroes along with Mother Theresa.

Obama declares that he has saved the economy from the brink and the recession is over.  Economy has slight bump up, but stock market continues to yo-yo and financial bubbles loom in the future along with the collapse of the dollar.  Several countries suggest unhinging from dollar and seeking a new global currency.

The Porkulus Bill (Stimulus recovery) is passed and Obama promises to save or create 4, no wait 3.5, um make that 3 million jobs.  It has been an utter failure with rampant fraud and the few jobs created costing somewhere in the area of $200,000 each.  Record unemployment has reached levels as much as 10.2% federally with most states suffering much worse numbers.

Air Force One flying over New York City and the Statue of Liberty for a photo op, sending New Yorkers running for their lives thinking 9/11 is happening again.

Obama appointed Sonia Sotomayor as the first Hispanic to the Supreme Court.  A woman whom has made blatant racist comments and believes that policy is created from the bench.

The Beer Summit!  Who can forget the President jumping to conclusions and declaring that the Cambridge Police Force acted stupidly when arresting a friend of his, Professor Gates.  The President promptly invited his friend and Sgt. James Crowley for a photo op teachable moment at the White House and the three men drank beer around a table while accomplishing nothing.

Two omnibus spending bills full of pork and earmarks passed by Congress and signed by the President.  One has 9,00- earmarks and the other contains 5,000.  A separate Defense Bill contains several billion more in earmarks.  What happened to no earmarks?

Approval ratings for the President go into freefall.  An upper seventy percentage rating upon Inauguration eventually deflated to a 46% approval rating.

This year’s budget deficit: $1.6 trillion

Concerned citizens dubbed “right wing extremists” in a DHS Report entitled, “Right Wing Extremism: Current Economic and Political Climate Fueling Resurgence In Radicalization and Recruitment.”

Obama drops plans for a missile defense shield in Poland.

The Obama family brings home their family dog, Bo.  An expensive, hard to find breed and not a shelter dog.

Obama announced plans for Afghanistan surge of troops.  He chooses to send 30,000 although General McChrystal requested much more and soldiers I have talked to suggest at lease 100,000 are needed and probably more.

Obama meets the Queen of England and gives her an iPod already loaded with his speeches.  He gives the Prime Minister a set of DVDs that do not work in European machines.

The Heathcare Debate!  This has gone on for the better part of the entire year with a final culmination in the House passing a bill and then the Senate passing a bill. The bills now need to merge in committee.  The House plan has a public option while the Senate version does not.  The debate over government healthcare has outraged citizens and created deep dividing lines between socialism and the free market.

The healthcare debate and outrageous spending lead to rallies across the nation dubbed as Tea Parties.  And a movement was sparked!  Concerned citizens have gathered throughout the year at rallies, counter-rallies, townhalls and tea parties to protest government intrusion, taxes, and loss of freedom.  The goal has been to get America back to her founding principles.  Large gatherings happened simultaneously nationwide on Tax Day, Independence Day and a large 9/12 March On Washington that was attended by over one million people.  The tea parties caused liberals to lose their heads, like Janeane Garofalo who called tea partiers “red neck racists” and MSNBC commentators to call tea partiers “teabaggers”, and the President to pretend to be unaware of the protests and then finally refer to the rallies as places where people were waving around tea bags.

The President promises to dismantle our nuclear stockpile while North Korea test fires missiles and Iran ramps up efforts to make nuclear bombs.  Iran has ignored all international requests to cease and desist and the President and other leaders have been left impotent.

Miracle on the Hudson!  One of the few feel good stories of the year.  Pilot Chesley “Sully” Sullenberger was able to bring down a full airliner after a flock of birds took out both engines without anyone dying and only a few injuries, using the Hudson River as a landing strip.  People will recall images of the passengers waiting on the wings of the sinking plane as ferries raced out to rescue everyone.

The Swine Flu!  The name quickly was changed to H1N1 Virus and everyone fears that a pandemic is on the horizon.  America overreacts as only a few thousand die.  Far below the number that die from the regular seasonal flu.  Not enough vaccine is made available and rationing begins legitimizing fears that government run healthcare will lead to rationing.

The Iranian Protests!  A fraudulent vote puts Iamadinnerjacket back in power and outraged Iranians take to the streets in the summer.  The protests continue to this day as Iranians make their move toward full revolution to overthrow their corrupt government.  Obama gives no support and promises that we will “bear witness”.  Gee thanks, Barry!

Somali pirates!  Pirates have long been a problem, but until this year and remained largely ignored by America.  That was until the Maersk Alabama, an American ship, was hijacked.  Captain Richard Phillips offered up himself as a hostage as his crew locked themselves below deck.  For days we watched the pirates hold the captain hostage in a dingy.  Finally, the Navy SEALS took action and killed three of the four pirates and freed Capt. Phillips.  New reports from the crew disparage the Captain’s courage and claim he was captured because he was stupid, but it still was a great day for our military.

The Ft. Hood Massacre!  On November 5th, Jihadist Nidal Malik Hasan, a US Army Major, mowed down 13 people (14 if you count the unborn baby) and wounded 30 others at Ft. Hood in Texas.  A female police officer takes him down leaving him paralyzed from the waist down.  The President takes a long time to address the nation and spends the first two minutes of his comments giving a shout out and thanking everyone at the gathering he is at for a great time and is quite jovial.  Americans are left baffled by the man boy pretending to be a leader.  Obama tells everyone not to jump to conclusions – unlike what he did with the Cambridge Police.

Bernie Madoff commits the largest Ponzi scheme in history leaving millions penniless.  He is sentenced to 150 years in prison.

Roman Polanski finally arrested for a 1970s sex charge for drugging and raping a thirteen year old girl.  He is put under house arrest.

ClimateGate!!  The global warming hoax is up.  The Climate Research Unit of the University of East Anglia in Eastern Europe is hacked and emails are released to the public that revealed an effort to cover up cooling temperatures, efforts to shut down scientists who were debunking manmade global warming and revealing an effort to coach certain members of the media in how to report on climate change.  They deliberately changed, manipulated and deleted data.  This came out before the Climate Change Summit in Copenhagen and world leaders, including Obama, completely ignore it.

Ted Kennedy dies.  Boo hoo…

Susan Boyle blows us all away with the voice of an angel and the face of a troll.  She has become a sensation and sold more records internationally then anyone else.  The video of her break out goes viral with several million hits.

Governor Mark Sanford went “hiking on the Appalachian Trail” and came back from Argentina with tales of his lurid affair with a woman.  All prospects for this conservative to have a run at the presidency vanish and his wife leaves him.  Calls for his impeachment fail, but that won’t take away his title as “Scum”.

Governor Sarah Palin quits her job as governor of Alaska.  She claims to be stepping down because of numerous lawsuits that are wasting time and money for the state.  Supporters like myself think she has made a stupid move that has killed her chances at the presidency, but her ability to raise funds has soared.  Not to mention sales of her memoir which has broken records this year.

Obama wins the Nobel Peace Prize for doing…nothing.
Tiger Woods and his Mistresspalooza.  One of the most celebrated and inspiring athletes of all time proves to be a schmuck.  The list of women he has cheated with during his brief marriage grows and grows and came to light after his wife tried to attack him with a golf club.  For now, Woods has quit golf and his wife has moved out.

Fannie Mae and Freddie Mac, two entities behind the housing bubble crash are bailed out a few times and then given an unlimited line of credit…forever.

Debt ceiling raised to: $12.4 trillion

Jihadist attempts to blow up himself and a Detroit bound jet on Christmas Day.  He gets through security with a device hidden in his underwear.  He gets through also despite the fact he is on a watch list, has no baggage, pays cash and gets a one way ticket.  Not to mention he is Muslim and his father has reported his extremist ways to the US embassy.  American security has egg on its face and, thanks only to a bad detonator and a brave Dutchman, no blood on its hands.  The President waits three days to address the country about the attack and is weak.  Janet Napalitano, Secretary of Homeland Security, claims everything went well and then backtracks.  We are still waiting for her resignation.

And finally the people who died this year: Natasha Richardson, David Carradine, DJ AM, Walter Conkrite, Farrah Fawcett, Paul Harvey, Billy Mays, Les Paul, Karl Malden, Patrick Swayze, Ricardo Montalban, Ron Silver, Dom DeLuise, Director John Hughes, William Safire, Soupy Sales, Jack Kemp, Roy Disney, Bea Arthur, Dominick Dunne, Ed McMahon, Brittany Murphy and Michael Jackson.

Good riddance 2009!!!

Earmarks, Earmarks Everywhere You Look

The House has passed their version of a budget appropriations bill, also called an Omnibus Bill, and it is full of earmarks as usual.  As always happens with these types of bills, several days on the internet leads to the exposing of government waste via earmark after earmark for mindboggling projects.  Most of these projects are “pet projects” of lawmakers and completely unnecessary, particularly during a time when the national debt has risen above $12 trillion and the government is considering raising the debt ceiling another $1.8 trillion as Moody’s prepares to take away America’s AAA credit rating.  Our government is certifiable at this point.  And the weak Republicans only opt to vote “No”.  Where in the hell are you Republicans?  My God, storm the damn House floor and refuse to vote.

And any hopes that the Republican Senators will put up more fight has been dashed with the vote for cloture this morning in the Senate.  This spending bill rolls in at $447 billion and contains 5,000 earmarks worth $3.9 billion.  This atrosity contains federal funding for D.C., the Transportation, Housing and Urban Development bill; the Commerce-Justice-State bill; the Labor-HHS-Education bill; the military construction-Veterans Affairs bill; and the State-foreign operations bill.  Funding for the Pentagon was taken out so that these corrupt lawmakers can use it next week to attach on to Obama’s third stimulus for jobs and the lunatic idea to raise the national debt ceiling almost $2 trillion more.

Earmarks include $2.7 million for supporting surgical operations in outer space, $800,000 for jazz at New York’s Lincoln Center, $750,000 for exhibits at the World Food Prize Hall in Iowa and $3.4 million for a rural bus program in Hawaii.

No Chamber Of Commerce At Jobs Summit

Anyone with common sense knows that it is small business that creates the most jobs in America, where free enterprise used to reign supreme before government intrusion into the free market happened.  The champion of small businesses is the United States Chamber of Commerce.  One would think that a large jobs summit hosted by the President would definitely include the Chamber.  But today’s Jobs Summit to be held at the White House will not include the Chamber.  They were not invited and there is no doubt as to the reason why: they are being punished.

The U.S. Chamber of Commerce has been working vehemently against ObamaCare.  This makes sense since it is widely known and just plain common sense that ObamaCare will hurt small businesses.  The Chamber has even put together a Healthcare Toolkit.  For nearly a year, the Chamber has been releasing PDF files that evaluate healthcare reform issues and that critique the various bills coming out of both the House and the Senate.  And the Chamber began running an ad campaign back in June for both print and television.  The Chamber has written Op-eds, sent letters to the Hill and made multiple television appearances.  It has been an all out offensive against ObamaCare.

Also not invited to the farcical summit is the National Federation of Independent Business, which was also critical of ObamaCare.  So who is invited to the summit?  Only the people who agree with the President’s policies and liberal economists who have been wrong at every turn when it comes to the American economy thus far.  And who has agreed with the President?  Union leaders, environmental advocates and executives from Google and other blue-chip firms, of course.  Disney’s Bob Iger has also been invited, which leaves me a bit stumped.  Disney has had a hiring freeze for months now and has preferred to work employees six days a week, rather than hire new employees.  Not sure what Iger will be able to contribute there.  Unless the President plans to threaten these leaders to start hiring?

The Washington Times is reporting:

“He’s going to get lots of recommendations to spend more money,” said Peter Morici, a professor at the University of Maryland’s Robert H. Smith School of Business. “These are the very same people who gave us the stimulus package. My feeling is we’re not going to get what we need, and that’s a complete change in direction on economic policy.”

A spokeswoman for the White House would not comment for the record on the format or how the list of participants was drawn up. A full list of attendees is expected to be released Thursday.

More federal spending to generate jobs is a likely subject at Thursday’s summit given that guests will include economists such as Paul Krugman, who has argued that the first stimulus package was not large enough. Likewise, chiefs of the Center on Budget and Policy Priorities and the Economic Policy Institute, both of whom are slated to be in attendance, have called for more federal dollars to aid states experiencing budget shortfalls.

“My chief concern is that the list features no serious and prominent labor economist, which seems essential to offering a sound, long-run policy to put us on a path of lower unemployment,” said John Coleman, an economics professor at Duke University’s Fuqua School of Business.

Representatives from NFIB and the Chamber of Commerce said their organizations were not asked to attend, but representatives from some of the country’s largest unions, Change to Win and the United Steelworkers, will participate.

The Chamber has sent a list of recommendations for the President, but i expect those will be found in a dumpster behind the White House, right beside the Constitution.

Global Economy Continues Onslaught On Dollar

The new global economic order that the world seems hell bent on creating continues to weaken to the dollar.  And with America contributing just as heartily to that fate by increasing our deficit spending, printing unbacked dollars as quickly as ink can meet paper and monetizing our debt, the dollar really has no chance in the world.  Countries are quickly backing away from the dollar and the International Monetary Fund has been playing for months with the idea of creating a basket of currencies for nations to use as backing.  The one item that seems to be gaining ground in this currency turmoil is gold.  Gold has been setting records for weeks and has now reached an all time high.

Today gold prices hit a record above 1,100 dollars.  The reason is because ministers at this weekend’s G20 meeting pledged to continue the fiscal stimulus measures similar to what we have been doing in America.  This is just more easy money, which will eventually collapse under the weight of being propped up by nothing other than the hot air of world economic leaders.

In morning trading, gold struck an all-time peak of 1,109.50 dollars an ounce as the euro rose to 1.50 dollars for the first time in two weeks.  So obviously, if you can get gold get some.  The dollar’s death knell is tolling.