Housing prices in 20 cities decline by 18 percent. How much you want to bet that most of that is in cities from the 5 states Cato mentioned? Phoenix, Las Vegas and San Francisco lead the way and significantly skew the numbers upward.
The leader of Japan, another huge purchaser of US debt, is the first foreign leader to visit President Obama. Between Clinton's China trip and this visit from Japan, it's obvious the Obama administration is down on hands and knees begging foreign countries to continue buying our debt while they destroy our economy. This will be the primary focus of Obama's foreign policy for 4 years. Our government, both parties, put us at the mercy of foreign governments, and Obama is doubling down on that arrangement despite its inevitable failure. Hillary Clinton says human rights concerns take a backseat to economic issues with China. This is only going to get worse over the next 4 years.
Thanks to continued interference in our economy by Bush, Obama, and Bernanke, the recession may slip into 2010. Originally it was going to be over by Q2 this year. Then Q3. Then Q4. Now it's 2010. You would think government would recognize that every time it interferes, the recession gets deeper and longer. But no. We need to extract government from our economy so the people can implement a recovery and make our economy stronger than ever.
In an attempt to distract liberals and the country from the real cause of the financial crisis, Wired magazine tries to blame it on a mathematical formula. This is a convenient, ridiculous bogeyman. The Fed's low interest rates, the subprime housing policies, and the income tax all intersected to create this crisis.
Boortz explains that allowing judges to modify mortgage contracts will just lead to more expensive mortgage contracts in the future, so responsible people will be paying for the irresponsible people that way. That's another hidden tax.
Barack Obama is shameless. While talking about cutting the deficit because he cares about future generations, he announced yet another spending increase, this time for Medicaid, that will increase the deficit. How long does he think the American people will keep falling for his Marxist policies because of his double-speak? Orwell is pointing and laughing at us from the grave.
And for all of the concern over increased government spending, the Democrats are going to unveil an appropriations bill today that adds $20.5 billion to Bush's domestic spending requests from last year.
This guy has never seen a spending program he didn't want to make bigger. It cracks me up every time liberals act like Obama is doing good stuff for the country and Bush did bad stuff, when everything Obama does is like Bush on steroids.
Marxist ACORN member declares that housing is a right. Just like liberals are claiming health care is a right. These aren't isolated cases. The entire liberal philosophy is to expand rights one at a time until the country is communist. In the next few years, the hate-America left will declare that food is a right. As always, their liberal flock will start parroting that food is a right. Water is a right. Clothes are a right. And both parties will go along with it (note that Republicans have bought in hook, line and sinker to the fraud that health care is a right), and the American people will keep re-electing them anyway. Here's another one claiming breastfeeding is public is a right.
The Bush administration and Congress let Katrina victims stay in hotels for 42 months at taxpayer expense. What did we do to have government take our money from us by force and give to these people? Why should we be punished? Anybody who wants to put those people up in hotels indefinitely can do so voluntarily with money out of their own pockets. Obama has extended that welfare program another 60 days. Just more of the same from Obama. He's the anti-change president.
Obama's approval rating is slipping as is normal for a new president, but his disapproval rating is climbing rapidly, and is already significantly higher than average. The American people are only just now waking up to what a terrible leader Obama is and what terrible policies he plans to force down our throats. It shows there's something wrong with our election process (the mainstream media) that the people were so ignorant before the election and are only just now seeing Obama for what he's always been - a closet Marxist. This third term of the Bush/Obama government uber alles presidency is taking us downhill faster than ever.
Google keeps getting the spacing worse and worse on my essays.
Maybe Obama should take a lesson from Bernanke, who said that the US doesn't need to nationalize banks, and stop pushing socialist policies on us. The stock market rebounded on Bernanke's comments. Unfortunately, what this shows is we already live under a political economy, not a free market economy. Stocks are supposed to reflect the expectations that companies will produce quality goods at a great price, not the comments of some aristocrat Washington. Democrats are getting a clue.
Today Steny Hoyer says that he doesn't expect the government to nationalize banks. Stocks went up. It's just that easy. Support socialism, and the market and the economy tank. Support economic freedom, and the market and the economy rebound. But the problem is the people care far more about rhetoric than reality. Many people still consider George Bush a supporter of free markets, but George Bush wouldn't know a free market if ever saw one. Same with Greenspan and Bernanke.
It looks like Democrats and Bernanke are trying to be hopeful before Obama's big speech, kind of like seeding a jury. You can bet Obama dramatically changed his speech for tonight to say the right things and come off hopeful. But if nationalization was the best idea yesterday, how come it isn't the best idea today? That's because it wasn't the best idea yesterday either. That was just Democrats trying to further capitalize on the recession to implement more Marxism. The people are catching on to them and limiting their ability to damage us further.
Apparently Obama has been grandstanding in front of Congress for over an hour now. And he's hopeful. I'll read it tomorrow.
Maybe we should feel better knowing that the insanity of liberalism isn't confined to the US. UK PM Gorden Brown calls for a world wide New Deal. I don't feel better. Maybe Gorden Brown should learn some history. Europe didn't suffer nearly so badly as the US during the Great Depression because Europe didn't have a New Deal and the US did. Why would Brown want the entire world to suffer a new Great Depression?
Federal deficit to be as large as a percentage of GDP as any time since WWII.
Baltimore police arresting ACORN activists for breaking into foreclosed homes and refusing to leave. ACORN is a criminal organization, and the government should go after ACORN as aggressively as it does another other organized crime operation.
Good for Montana for challenging the Imperial government on states rights and gun rights.
Obese man had to ride in back of U-Haul to get to court because he didn't fit in a car. Anybody want to bet this guy is on welfare?
Obama to pull most US troops out of Iraq in 19 months, leaving 30,000 behind. You'd have to be a real kool-aid drinker to call leaving 30,000 behind ending the war. It sounds more like leaving 30,000 troops in danger without their fellow soldiers to me. Obama's doing his best to snatch defeat out of the jaws of victory just like Democrats did in Vietnam, and if Iraq goes south, Obama will own the responsibility.
Great essay describing the history and ethics of money production.
TARP in action.
Cato explains that the president talks too much.
Reviving the privileges or immunities clause of the 14th Amendment. Let's hope so.
Pat Buchanan takes up Attorney General Holder on his challenge to talk about race, and will undoubtedly be called a racist for doing so. These numbers are astounding.
Hamas and Fatah talking reconciliation. If it leads to an end of rocket attacks on Israel, that will be a good thing.
Former Clinton Labor Sec. Robert Reich advises Obama to keep on spending and not repeat FDR's mistake of spending too little. How in the world to we allow insane people like this to gain power? When the country collapses from too much debt, these insane people will still say the country didn't spend enough.
Microsoft misleading consumers on compatibility of Windows 7. I hate Microsoft. It lies almost as blatantly as politicians.
A European country finally steps up to the plate and takes a little bit of responsibility for winning the war on terror. Spain offers to take some Guantanamo detainees. But only the ones they want to take. Nobody too dangerous.
Ralph Peters has reached the same conclusion about Afghanistan as Cato and I. We should have gone in fast and hard, destroyed al Qaeda and any Taliban forces protecting al Qaeda, then got out. Given where we are today, we should pull out most of our forces and leave a small footprint to perform strategic actions against the extremists. He explains the differences between Iraq and Afghanistan I've talked about, and why creating a self-governing state in Iraq was both achievable and worth achieving (after we toppled Saddam), but trying to make Afghanistan into a full fledged state is folly.
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