Thursday, October 28, 2010


My last post described a large number of examples where the Obama administratioin is harming business -- the engine of our prosperity and jobs -- through incessant investigations, lawsuits, crushing regulations and pronouncements.  He is killing, not creating, jobs.  (Funny, you don't hear him spouting about the three million jobs he created or saved any longer.  It was a bald-faced LIE.)

Now I will present a continuous scoreboard of the man's insane, drunken-sailor spending of your money and mine.  All borrowed from China and others, to be repaid in the future by some magical means.  He has increased spending 21.4% during his two years in office.  That's $628,000,000,000.  The national spending were in each year records.  $3,520,000,000,000 ($3.5 trillion) and $3,450,000,000,000 (also $3.5 trillion, rounded.)  In each case the figures were $1,420,000,000,000 and $1,290,000,000,000 more than the government took in.  Cumulative deficits those two years -- $2,710,000,000,000 (That's $2.7 trillion)!!!

That man knows how to spend.  Too bad he doesn't know how to earn.

The total INCREASED spending on student aid around $70,000,000,000 (up nearly 50% since he took office, and as would be expected by any rational person with all that money flowing into education, bureaucrats are getting it and increasing prices -- tuition's up around 5% a year for at least the last ten.)

ANOTHER $2,500,000,000 ($2.5 billion) for passenger rail projects, mostly to California and Florida.

Wednesday, October 13, 2010


President Obama is flying all over the country trying to prop up with cash sinking Democrat politicians and, at the same time, spouting how many jobs he's singlehandedly created  3,000,000 alone by "saving" General Motors, he says.

Most rational citizens other than the far-left apologizers who wouldn't know free-enterprise if it hit them in the face, understand inherently that the Obama Administration hasn't created any jobs (other than those supported by taxpayer's future confiscations to repay the People's Republic of China's loans to us.  In other words: government jobs).  But what they might not consciously understand is that the Obama Administration is fervently against the private sector, free-enterprise and capitalism itself.  Obama is anti-business, anti-corporation and therefore anti-private-sector JOBS!

So instead of supporting the ONLY source of wealth- and lasting-job-creation -- companies -- Obama is busily investigating, suing, threatening, and micro-managing them.  He has taken over vast segments of the U. S. economy -- healthcare, automobile manufacturing and selling, financial services, education and its financing, consumer showerhead manufacturing and on and on and on.  All must bow down to his dictatorship.  He seems to believe that he and his anti-business, "social justice" henchmen and cronies, few of whom have even held mere jobs in the private sector, can build and manage corporations better than the hated "executives".  He completely ignores the trillion-dollar mismanaged fiascos of Fannie Mae, Freddie Mac, U. S. Post Office, Amtrak and virtually every other segment of government.  Mismanagement.  But excellent propagandizing!  In fact one would be challenged to name one success by the federal government in recent times.  I wonder if each of the initiatives mentioned below could not have awaited (and assisted in) an economic recovery that desperately needs jobs.  Obama is obviously idealogically anti-business.

So here's what he and his administration have been doing in his war against business:
[I am changing the numbering.  I originally started at 1. and went to 37. from top to bottom.  But I have decided to continue this with the latest posting, the largest number, on top.  It'll begin with today (Monday, August 23, 2010) and number 38.]

79.   Mark Lloyd, newly appointed Chief Diversity Officer of the Obama Federal Communications Commission, has called for making private broadcasting companies pay licensing fees equal to their total operating costs to allow public broadcasting outlets to spend the same on their operations as the private companies do.  Think about this one!!!!!!

78.  The Obama FDA frightened Abbott Laboratories into withdrawing the diet drug Meridia.  One study published in the New England Journal of Medicine found a higher risk of heart attacks and strokes, but 46 other clinical trials and six million patient-years of use didn't find the same risk.  No matter, and no matter the First Lady's obsesion with obesity; attacking for-profit healthcare companies is a higher priority for Obama, the President. 

77.  Synthes, INc. a surgical implant company settled charges by the Obama Justice Department that it improperly marketed some spinal compression fracture products. 

76.  Because it wants to, the Obama federal investigators are looking at ways big pharma could, maybe, possilby be paying bribes overseas.  Merck, AstraZeneca, Brostol-Myers Squibb, GlaxoSmithKline not to mention SciClone and Eli Lilly and Baxter all of which are being investigated by the Obama Justice Department and the Obama SEC.  The companies say it'll cost millions and millions of dollars and take place from Brazil, China,Germany, Poland, Itasly, Russia and Saudia Arabia.  More harrassment of business by the horribly oppressive Obama administration of for-profit companies.  Or could it be fishing for openings for trial lawyer suits providing millions of dollars to the Democratic Party?  And to further get them, Obama is threatening to file charges with business executives as well as the companies.  And people think the Peoples' Republic of China is repressive.

75.  The Obama Justice Department hit American Express Co. with a civil suit in its latest bullying initiative.  Bullying is not allowed on the playground why is it allowed by the Obama federal government?  AmEx did not sign  an agreement that Visa and MasterCard did one which loosens restrictions that credit card companies place on merchants.  Why is the Obama Justice Department putting its nose into the private agreement between private-sector companies?  Because it wants to.  AmEx dropped 6.5% October 4.

74.  The Rule of Law is being slowly replaced in the Obama Administration by the Rule of Personal Preference.  For example, the Obama Internal Revenue Service is arbitrarily allowing taxpayers a tax decuction for installing defective drywall in their houses which needs to be replaced to get the decuction along with myriad other complex requirements..  This new rule was promoted by the Democrats in Congress wanting to get reelected.

73.  The Obama Consumer Product Safety Commission said two Fisher-Price Trikes hurt ten kids of which two reauired medical attention.  So ELEVEN MILLION are being recalled.  (There's a protruding plastic key sticking out of Dora the Explorer and Barbie's trikes.)  And F-P's high chairs have pegs on their back to store the tray, but kids can fall on them.  (Fall on high chairs?)  And there are 14 reports of problems some of which OH DEAR! required stiches.  FORTEEN MILLLION RECALLED!  I submit that this is regulation gone wild.  That is .000096 PERCENT hurt. 

72.  See next post concerning discrimination.  With absolutely no empirical evidence that "diversity" of skin color provides any benefit to anyone, except 1) to elect Democrats and 2) to make liberals feel good about themselves, not the recipients of diversity.  It is well-researched and proven that diversity is costly to companies and government entities, through hiring of so-called "diversity officers" and accompanying time for siminars, etc. and literature, none of which manufactures anything for revenue.  So put another way, dicversity costs productive jobs.  Given that the Obama financial industry takeover bill named for its two major offenders, Sen. Dodd and Rep. Frank.  Both social-justice Democrats.  In their bill is Section 342, described in detail in the September 27, 2010 issue of Forbes Magazine (page 18, "On My Mind": "Good Intentions Gone Haywire").  A summary is that at least federal bureaus are required to open and staff Offices of Minority & Women Inclusion, including the Treasury Department, the Federal Reserve and each of the 12 regional, so-called privately owned, Federal Reserve Banks.  This costing you and me $58 million a year to start.  But there's more.  These new offices will implictly mandate racial and sexual (well, gender) quotas on every bank, financial institution and providers thereto.  That's over 50,000 businesses in the country, including law and accounting firms.  Forbes calculates that if only one new "deiverse" employee is hired in each of the firms that increases costs to business around $4,000,000,000 every year.  To start.  Quotas.  Quoata.  Quotas.  Illegal according to the Supreme Court but not the Obama prejudice.  Another Job killer!

71.  The Obama anti-jobs machine strikes again: the Obama Labor Department files a complaint against Tyson Foods Inc. because ONE of its managers allegedly discriminated against women.   It was filed under an Obama Executive Order.  Women only hold 28% of the jobs at this one SLAUGHTERHOUSE in Illinois.  (Why would they want any?)  The place employs 2,400 people and comes from an audit or job application forms.  No one complained.  Obama wants Tyson to hire 100 women there and will banish Tyson from cogernment contracts until it gives in.  Dictatorship?  Private enterprise?  Cuba?  (I do not know if Tyson is union or not, that would certainly be a reason Obama sued.  Not enough campaign contributions.  But it probably is, being in Illinois.)  A bigger question: Is discrimination a statistical study or an specific action or actions by a person or persons? 

70.  Further FDA micromanaging of physican prescribing: Two years ago FDA approved Avastin now it's withdrawing it from the market.  It is NOT because Obama thinks it's too expensive for Medicare to pay, of course not!  It does cost $100,000 a year.  It has proven a wonder drug for women in stage IV breast cancer, slowing its progression (shrinking tumors in half the patients using it) and extending lives (patients live twice as long as those not taking it).    Just to preclude sexism, Obama is also considering withdrawing Provenge a drug for advance prostate cancer (most women don't get this) because it costs $93,000.  Both these moves are revolutionary for the FDA.  Obama is beginning rationing.

69.  One goal of Obama's has succeeded.  Citigroup Inc. can't compete with a government monopoly in student loans, so it's shedding that unit, thus increasing Obama's grip on propagandizing United States college students through giving or withholding from them money to go to college.  Think about it!  An addendum: The default rates on student loans is continuing to increase.  To 7%  in 2008 up from 6.7% in 2007 and 5.2% in 2006.  Let's guess, will they go up or down with the government completely in charge?

68.  Continuing his perfect record of stupidity, President Obama will put another $11.4 billion of taxpayers' holders money at more risk by changing its preferred stock to common, which will increase Obama's ownership in the former General Motors Acceptance Corp. (GMAC, now Ally Financial, Inc.) to 80%.  We -- U. S. Taxpayers -- have given GMAC nearly $20,000,000,000.  General Motors, Ally's former owner declined to re-buy Ally and bought AmeriCredit Corp. instead for another $3,500,000,000 of our money.  Obama bought Ally because its former owner didn't want to.  Hmmm. Smart move Mr. President.  (Well, who cares, it's not your maney anyway.)

67.  See 46 below.  The Obama Justice Department cowed the six leading high-tech companies into settling civil charges.  Google, Apple, Adobe, Intuit and Walt DIsneys' Pixar have agreed not to not poach each other's employees by cold-calling them.  Of course they didn't admit any wrongdoing or have to pay anything.  Just why did Obama do this? 

66.  President Obama runs General Motors, which was purchased with roughly $50,000,000,000 of taxpayer money and is 61% owned by U. S. taxpayers..  Now GM after Chapter 11 has once again begun making political donations now mostly to Democrats which are mostly elected with union funds, to which Obama gave a hunk of GM stock.  (And much more of Chrysler's.)  If this isn't blatently illegal, it certainly doesn't pass the stink test.  It stinks.  Taxpayers are indirectly financing Democrat reelections.

65.  As in 64 below, this is about legal (well, formerly legal) drugs.  The Obama Justice Department is trying to butt into the lead plaintiff position in a suit against Pfizer, Inc.'s Wyeth unit about Rapamune, which prevents a body from rejecting kidney transplants.  In the past doctors, were able to prescribe medicine as they thought best for their patients.  NO MORE!  The FDA bureaucrats are quickly second-guessing physicians and taking over that function.  Micromanagement by bureaucrat.  Jobs, revenue, growth, profits?  Health?  Obama could care less.  His mad power is what is important.

64.  In his quest to get foreign countries to like him, Obama has proposed plans to increase airline passenger "rights" (as defined by Obama, of course).  The international airline industry is up in arms against him.  It'll bring higher fares,  fewer flights, confusion and will conflict with international rules.  It'll also ban peanuts.

64.  Further micromanaging the business world, the Obama Federal Drug Administration decided that the diabetes drug Avandia, by GlaxoSmithKline PLC, once a multi-billion dollar drug used by 600,000 patients has been regulated off the market.  FDA bitterly debated the data and evidence, thought by many to be inconclusive.  But whatever FDA will tell physicians how to prescribe drugs.  Afterall who knows more bureaucrats or doctors?

63.  The Obama Administration wants to manage their hated health insurance companies.  The health industry takeover specifies that health insurance companies must spend at least 80% (or 85% depending) of its premiums collected on actual medical care.  Problem?  There's no definition of medical care and the possibilities are endless.  Rules are coming from bureaucrats.   This clearly will damage small health plans who do not have the critical mass to instigate all the regulations, thus throwing their expense rations out of whack and them out of business.  It's only maybe a few thousand jobs, though.  That's pocket change to Obama.

62.  Please see No. 36 below, about potatoes.  I just spent a weekend in Prosser, WA, and saw a brand-spanking new huge Lamb Weston potato plant in the middle of Prosser closed, shut tight.  I'd guess a hurdred or two hundred josb lost.  Why?  Because the Teamsters union doesn't like the North American Free Trade Agreement and it is not letting the Obama Administration live up to a NAFTA agreement the U. S. signed with Mexico to allow Mexican trucks to travel a short distance inside the U. S.  But now, let's dis China.  The Democratic Congress and President Barack Obama had flipped a discretionary 35% tariff on Chinese tires at the demand of the Steelworkers union last year.  In addition Obama and the Dems want China to raise the price of its currency to the dollar to make our imports less costly.  Gee, what would you do if you were China?  Call Barack and say what a nice guy he is and let's be friends?  Or slap a 50% to 105% tariff on U. S. Poultry products.  Just to remind readers the full-on trade wars of the 1930's -- also courtesy of the Democrats and unions -- kept the Depression depressing a decade longer.  Smoot-Hawley here we come!

61.  Please see Number 56, below, about Obama's vendetta against for-profit  (God- or god-forbid!) schools.  Their profits should be taken from them he believes.  But today I read (September 28, 2010, Wall Street Journal, page A-something, the second to the last, "Black Colleges Need a New Mission".  It states in this article about HBCUs -- historically black colleges and universities -- you can't call them black anymore apparently, that "for the past two years, the University of Phoenix, a FOR-PROFIT COLLEGE has conferred more bachelor's degrees on black students than any other school."  Go after them, Obama, throw another generation of  African Americans in the garbage bin.

60.  The Obama Federal Trade Commission sues POM to get them to tell the truth, as they see it, about health benefits of POM.  (Pomegranate-based fruit drink.)  The FTC wants POM to change its advertising.  FTC go after the president, Congressional members and condidates that lie, lie, lie.  Leave productive employers alone.  Every job is needed today.

59.  On to Obama's particular target: U. S. health insurance companies.  Obama's ObamaCare mandates for insurance companies to eliminate co-pays on preventative care; extends the definition of "children" to stay on parents' policies to age 26 (children?); and forces automatic coverage of kids regardless of pre-existing conditions and, finally, the dictates the elimination of lifetime caps.  Obama obviously believes all this should be free and carved out of insurance companies' ginormous profits.  But, no, the companies are raising premium costs.  Well, his administration will hunt these companies down to see if the increases are "unjustified" (a strictly-defined legal term which means anything Obama arbitrarily doesn't like).  If this fierce confrontation isn't enough, Democrats in Congress want to fix the prices of insurance companies, with legislation that was stalled but might be awakening.  If that all isn't deadly enough, Obama has threatened to keep the companies that "unfairly" raise prices -- once again a term of arbitrariness from Obama -- out of competing in the state-run insurance exchanges scheduled under Obama's health industry takeover bill to begin in 2014.

59.  Obama's Environmental Protection (sic) Agency wants the facts, Ma'am, nothing but the facts from nine huge natural gas (fossil fuel) companies who use a relatively new techinque "hydraulic fracturing" to access ginormous underground gas fields.  Some chemicals are used in the process have been disclosed to local regulators but are deemed competitive secrets by companies.  Environmentalists are scared and rumbling, so the EPA acts.

58.  Obama's United States Department of Justice (sic) and his Securities and Exchange Commission have ganged up on Hewlett-Packard probing possible bribes (as defined in our government's U. S. competitive-hampering Foreign Corrupt Practices Act) in Russia.

57.  Obama's Federal Trade Commission has unleashed on Apple Inc. to force it to change its products to allow competition from mobile devices from Google by letting Adobe Systems's programming language to be used on its devices.  Google's AdMob ad network likely will be serving up ads to Apple's applications (called "apps").  Apple caved.  Probably a coincidence that Google executives and founders were major supporters of Obama's election.

56.  Please see Number 3 below about for-profit colleges which are being attacked by the Obama U. S. Government Accountability (sic) Office.  Owner of one of the largest, Washington Post Co. (owner of Kaplan Inc.)  has danced into Washington with money and lobbyists and its Chairman Donald Graham.  No doubt after grabbing campaign contributions for the upcoming intense election in November, this issue will fade away.  Is this attack on business simply about extorting money for reelection?  We'll see.

55.  It's your turn once again, Toyota.  That'll teach you to be successful when Obama's GM is struggling.  The Obama National Highway Traffic Safety (sic) Commission is "scrutinizing" Corollas and Matrix vehicles for possibly stalling.\ and of course publicizing the investigation everywhere.

54.  Obama's financial services industry takeover is costing consumers more.  No matter, saysa prominent Democrat; "Better to know up-front what the interest rate is, even if it's higher..." said Rep. Maloney (D., N.Y.) principal author of Obama's Credit Card Accountability, Responsibility and Disclosure Act (CARD) as consumers' credit card  rates near 15%.  So Obama is attacking every big company in the land for possibly increasing consumer costs, yet when he's in control, it's OK.  Not only is CARD increasing prices, at the same time it's reducing the availability of credit.  This is critically dangerous to new and early-stage small companies who use credit cards to finance their businesses.  They used to be the source of most new employment.  Not so much anymore, in part thanks to President Ovbama.

53.  The Obama Federal Aviation Agency is requiring a record $24,000,000 penalty for American Airlines apparently for not putting certain clips an exact number of inches apart. 

52.  Speaking of restricting competition, see below Number 50 about Obama requiring registration and certification of some badly-hurting building contractors which limits competition, here's another.  Obama's Internal Revenue Service is requiring all paid tax-return preparers to register and get a Preparer Tax Identification Number (PTIN).  This could encompass over a million citizens who will have IRS watching over their shoulders, after they have to pay for their own mandated training.  Will the government require them all to register and vote Democrat?  Stay tuned!  In the meantime it'll disrupt the industry.  Couldn't Obama push for a simpler tax return that doesn't require any "expert"?

51.  The Obama Commodity Trading Futures Commission is after CME Group Inc.'s conduct in its Treasury-futures business.  Obama was alerted by a CME competitor.

50.  Speaking of Google.  Obama's regulators are closely investigating Google's entry into the airline flight information business through an acquisition.  While there are plenty of alternatives to Google's target, ITA Software Inc., that doesn't matter apparently.  Government lawyers are asking potential future Google competitors, Expedia and Orbitz, for example, as well as present intense competitors such as Microsoft, if they could be unfairly disadvantaged.  Wonder what they'll say; I am certainly they will be honest and forthright.   Rules don't matter, if Obama doesn't like something WATCH OUT!

50.  A new Obama Environmental Protection (sic) Agency rule requires certification by government-approved trainers of badly-hurting building contractors who work on older homes to make sure they follow step-by-step processes for working on these houses that might have lead somewhere in them.  Cost be damned, but EPA says $150 or more will be added to costs each time. 

49.  Your Obama Congress at work: airline passengers must be offered water and snacks if they're on the ground awaiting takeoff for two hours.

48.  Obama's Federal Trade Commission, ever active, has sued Dun & Bradstreet for buying a unit of Scholastic Corp. last year.  This is a $29 million transaction -- peanuts -- which somehow might hurt consumers by reducing competition in the market for kindergarten to highschool data.  Data?

47.  Obama-hated health insurance company (he actually hates them all!) Aetna Inc. was suspended from signing up new members for its (soon-to-be-gutted by Obama's health industry takeover-) Medicare Advantage and Medicare prescription drug plans because it didn't comply with rules about changing its plan designs.  There are approximately 150,000 pages of Medicare rules and regulations and at any particular time any entity engaging in anything to do with Medicare will be in some violation.

46.  Obama's Justice (sic) Department is going after a dozen major high-technology companies, including Google, Intel, IBM, Apple and IAC/Interactive for their hiring practices, specifically agreements not to raid the others' companies for employees by cold-calling. 

45.  The Obama Environmental Protection Agency for the first time imposed limits on emissions of mercury from existing Portland cement plants.  Some plants will be forced to shut down which will kill jobs n them and probably force up prices of stucco and concrete.  The EPA itself estimates cost to the industry of $950,000,000.

44.  The Obama Food and Drug Administration panel rejected a drug to alleviate pain from fibromyalgia, a medical disorder characterized by chronic widespread pain and painful response to pressure.  Other symptoms include debilitating fatigue, sleep disturbance, and joint stiffness, it affects an estimated 2% to 4% of the population and 9 - 1 women over men.  The reason?  It could be misused and abused, even though it works well.  To my limited knowledge, this is a first.  Overregulating for soft, subjective,

43.  The Obama Securities and Exchange Commission has started a formal investigation of officers of General Growth Properties, Inc., owner of 200 shopping malls in the U. S., for insider trading.  Back in October 2008 the company's stock price plunged from doubts about the company's ability to repay or refinance its massive debt.  That triggered margin calls necessitating sales of the company's stock by some insiders.  Some ended up with no stock as a result.  In its continuing anti-business and anti-executive wars,   Obama is going after these people whose stock sales were involuntary.

42.  The Obama administraion has targeted the politically-unpopular, but consumer-popular same-day check cashing companies for elimination.  Some 38,000,000 American citizens use them to cash 200,000,000 checks annually.  To put them out of business the Obama Treasury Department is seeking $50,000,000 from Congress to create the "Bank on USA" by subsidizing commercial banks to open unprofitable checking accounts. Nearly 25,000 outlets and an estimated 125,000 jobs are scheduled for elimination!   From Obama to these some 38,000,000 voters: you are stupid for deciding on your own where to cash checks, the government can better decide for  you.

41.  The Obama administration is investigating pay practices throughout the entire gigantic healthcare industry after finding that, for example, nurses choose to take care of patients instead of running off to a mandatory break.  They put the patient first and choose to give up lunch to see that patients are taken care of properly.  ILLEGAL!  The Obama Labor Department dictates that no one can choose to help out patients instead of taking a break.  It says: "It is the duty of the management to exercise its control and see that work is not performed..."  Now let's see...this has led to trial lawyers suing and hospitals settling.  $1.7 million from the Sad Sisters of Mary (SSM); $2.7 million from Partners Healthcare; $7.25 million from Kaiser Permanente.  Obama has increased the wage-and-hour investigators in the Labor Department by 33.3%  - 250 more government workers here to dig up actions for trial lawyers to sue on.  One trial lawyer said that these Not-for-profit hospitals were "taking advantage of the good instincts of employees, knowing they will put the patient first.  That is, of course against the law.  Those three settlements alone brought around $11,000,000 to the trial lawyers who typically tithe 2% to the Democratic Party.  That figure would be $225,000.  Your healthcare cost just increased and the hospitals had to find that money somewhere, perhaps by not hiring a number of nurses for better patient care.

40.  Both Obama's SEC and his Justice Department are investigating at least a dozen major pharmaceutical and medical device companies, such as Merck, Johnson & Johnson, Eli Lilly, Medtronic, for (see many sections below) falling afoul of the FCPA (that's the Foreign Corrupt Practices Act passed in 1977 by the then Democratic majority in Congress under President Jimmy Carter)).  With a slowdown of sales in the U.S. because of fierce regulation and the recession, major emerging markets such as China, Russia, India and Brazil are looked upon to be sources of growth in the future.  To put it mild, the business practices in those countries are looser than those mandated by law in the U. S.  Rather than understand the differences and work with companies to facilitate sales, the Obama administration investigates and sues.  And kills jobs.

39.  The first unintended (or intended) consequence of the Obama financial services industry takeover bill (AKA Dodd-Frank):  an immediate and unforeseen-by-regulators SHUTDOWN of the $1,400,000,000,000 asset-backed securities markets.  These are bonds secured by assets such as automobile purchase loans (such as those issued by AmeriCredit soon to be purchased by Obama's GM for multi-billion dollars) and credit-card receivables.  More liquidity in these markets, of course, enable consumers to buy cars and other goods which will drive a recovery.  Stopped!  Buy an administration so hell-bend to regulate it has no clue of the consequences.  The SEC is rushing to figure out how to stop this huge block to future growth in America jobs which it caused.

38.  The Obama Justice Department sues Oracle Corp. for fraud.  This alleged fraud was started on a False Claims Act, by which traitorous employees rat out their employers for money.  The suite began in 2007, but Obama piled on in April 2010.  Doesn't much matter that it was about some Government Services Administration sale that the government said wasn't priced as low as some private sales.

1.  Having Treasury Department officials sitting in at bank board meetings, as board "observers", second- guessing decisions after they've been made.

2.  Investigating  high-technology wunderkind Hewlett-Packard Co. for foreign bribery, demanding millions of pages of company information.  Ummm, yes, the trial lawyer lawsuits have been filed!

3.  Penalizing for-profit career colleges for graduating students with high debt-to-income ratios.  (NOTE: only "corporate", for-profit schools, not Harvard, where tuition, room and board runs $50,000 a year.)  Ummm, yes, the trial lawyer lawsuits have been filed!

4.  Raising taxes on the so-called "wealthiest" Americans, which is incorrect, if not a bold-faced lie, because since the income taxes to be raised on them are based on income.   Not "wealth" but income, initially over $250,000 a year (a high proportion of which are small businesses).  This was expressed by Obama's Treasury Secretary Timothy Geithner.  Periodictablet to Secretary Geithner: wealth is money in the bank, property, things owned.  Income is money provided by a job, or sales of securities.  Sir, if you don't know the difference you should not be the Treasury secretary!

5.  Attacking Toyota, intense and highly-successful competitor to Obama's General Motors and Chrysler.  It has come under a blisteringly-fierce negative public relations propaganda barrage stage managed by, in my opinion, trial lawyers and the left-wing media, all orchestrated by the Obama Administration.  Toyota was blamed for killing people, shoddy manufacturing and hiding information from the "public".  All from "sudden acceleration".  However all that was bogus.  Investigations by the Obama's U. S. Department of Transportation couldn't hide the facts: the so-called "sudden acceleration" is completely the fault of drivers, most of whom didn't even push their brakes down in the face of such "sudden acceleration" which they themselves caused.  Read about it in the Seattle or New York Times?  Not so much.  Ummm, yes, the trial lawyer lawsuits have been filed!

6.  The Obama Administration will be selecting what services will  be provided free in its community clincs.  Let's see, cancer screeings, and, of course the trendy obesity prevention, shots, blood pressure.  Obama may say they're free, but that's a lie because, someone's going to pay.  Probably "the rich" and companies  will pay instead of creating jobs.  Tobacco cessation will be free.  Birth control?  No.  Abortions?  Who knows?  But in the future it'll be that which is provided  by the largest campaign contributors and what's popular and trendy to the far left.  (And like all government services it is free.)

7.  Obama's General Motors announced that it'll be buying AmeriCredit for $3,500,000,000. (Just from where is all that cash coming?)  Obama is spending taxpayer money for GM to give out loans to so-called "sub prime" GM customers, that is, those with sketchy credit and a challenged ability to repay.  Hmmmm. Shades of Fannie and Freddie, the government-sponsored entities who went broke backing sub-prime mortgages to those couldn't pay.  Who'll pay when the inevitable GM defaults come?  U. S. Taxpayers (financed by China).  But it'll allow GM to "go public", artificially of course, but Obama and his media will praise his uncanny business ability and acumen widely.  (Wonder if a bunch of Demcorats own AmeriCredit?)

8.  The Obama-hated oil ompanies were stopped from developing oil and gas wells on billions of dollars of leases in Alaska because environmental laws were not followed BY THE GOVERNMENT!

9.  Obama's financial takeover bill  gave vast new strangulation powers over the U. S. financial services industry to Obama's Securities and Exchange Commission (SEC) even as it gets smacked down by the courts for overreaching.  The Obama SEC of three Democrats to two Republicans -- political eh? --  issued a rule dictating that annuities be registered with...THE SEC...and sold by registered (with the SEC) broker-dealers rather than insurance agents as was the practice historically. What was the reason, other than a blind grab for power?  The D.C.Circuit Court ruled its (non-)reason was arbitrary and capricious and stopped it in its tracks.  The new benchmark for Obama's administration: arbitrary and capricious.

10. Obama's aforementioned SEC moves to limit mutual fund marketing fees, taking any choice away from customres and the companies.  Obama's SEC Chairman, Mary Schapiro said those customers don't realize those salesmen get paid.  Separately, it also told investment advisors how to give their clients information demanding "plain English descriptions".  My guess is that the former unplain English descriptions came about as a result of trial lawyers suing.

11.The Obama Department of Energy under his secretary, Steven Chu, has decided to essentially ban expensive showerheads -- showerheads -- ones with multiple nozzles which cost thousands of dollars.  They use too much water.  What I read did not say if Mr. Chu watches people take showers.  But...  Chu on that America!  Regulating your showerheads!  Freedom?

12.  The historic baby crib with the dropping sides which make it easier to put in and take out baby?  Banned by the Obama Consumer Products Safety Commission.  There have been 10 - 12 deaths a year recently from the millions and millions of these products sold.  (Could it be from dumb, stoned or neglectful parents?  Nah, the government can't get power over them.   Yet.)  After forcing them off the market and enriching the trial lawyers who finance the Democrats into power, Obama's CPS Commission will dictate what kinds of cribs companies will sell.  Prices should shoot up and sales will suffer, naturally.  But jobs?  jobs?  jobs? who cares?  Not Obama.  Ummm, yes, the trial lawyer lawsuits have been filed!

13.  The aforementioned Toyota Motor Corp. has been subpoenaed yet again by an Obama federal grand jury apparently about a probe from five yearrs ago about whether Toyota notified the National Highway Traffic Safety Administraton in a timely manner about some possible steering rod defect.  It took them five years?  Or now that Obama is in charge of GM does he simply want to hobble Toyota's ability to compete with his GM?  Ummm, yes, the trial lawyer lawsuits have been filed!

14.  The Democrats in Congress are taking aim at continuing-care retirement communities (CCRCs), which give seniors lifetime care, just after he Obama Federal Government Accountability Office released a report damaging to the industry.  Some communities have defaulted on their high-yield municipal bonds issued to build them.  In only one have the residents lost their entrance deposits.  One of over 600,000 units nationwide.  They are regulated individually by state.  But it's clearly time to throw away state' rights of regulation and crippling federal regulations over them.   Yet another Obama industry takeover.  Ummm, yes, the trial lawyer lawsuits have been filed!

15.  Obama bashed again, this time by his own government watchdog.  (Bow wow.)  His arbitrary closing of automobile dealerships hurried in order to push GM and Chrysler through his bankruptcy takeover of them, unnecessarily increased significant job losses, said Obama's own Inspector General for the Troubled Asset Relief Program, Neil Barofsky in an audit of the program.  He said "thousands of small businesses and tens of thousands of jobs" were irretrievable lost.  But, Mr. President you said you saved three million jobs.  Huh???????? Sir, you couldn't be lying to us, could you?

16.  Obama's Food and Drug Administration will regulate diagnostic tests, including direct-to-consumer DNA ones.   They are concerned about cutting doctors out of the process, thus obviously costing them money that could be used to make campaign contributions.  FDA wants to grab regulation of these laboratory-developed tests from the Centers of Medicare and Medicaid Services.  Turf war.  And exactly does this help consumers?

17.  The also aforementioned Obama SEC is investigating large homebuilder's joint ventures.  Because apparently the goverment's gross mismanagement in micromanaging Fannie Mae, Freddie Mac and Federal Housing Administration hasn't crippled them sufficiently.   But no doubt the trial lawyerws need some more obscene wealth.  Their lawsuits \obviously are forthcoming, only the timing is in doubt.  Large U. S. homebuilders, such as KB Home have taken over $30 billions in writedowns since the government-caused housing bubble collapsed in 2007.  Apparently Obama thinks hat's not enough

18.  As if Obama hasn't done enough manipulation to the U. S. automobile indusrty by taking much of it over and brutally attacking Toyota, he will spend another $6,000,000,000 no doubt borrowed from The People's Republic of China.  Neo-venture capitalist Obama knows how to invest, he's had so much experinece at it since he's been elected prexy.  Three-quarters of a trillion alone from his so-called "stimulus".  (We don't have to count any returns, they'll be counted in the next election he was trying to win.)  But this time our cash will attempt to develop batteries, (The Everyready bunny will be happy!) and pay for electric plugs and tax credits to bribe people who don't want to buy electric cars.  (Zero to 60 miles and out of power.)  While Obama is blowing yet another borrowed-$6 billion on his pet projects,  real venture capital can't compete with him.  Only $1.9 billion was invested into free market venture capital investors the second quarter of 2010.  One major culprit: the U. S. government whose Sarbanes-Oxley Act killed Initial Public Offerings with vast regulation and cost increases.  IPOs used to be the generator of returns for venture capital investors.  In the good old days of free-market innovation!  Gone now!  Something like one-third of the most successfully-innovtive high-technology companies like Apple, Microsoft, Cisco, Google, Yahoo, Intel and on and on were created by venture capital.  Gone!

19.  An Obama federal regulator, the Federal Housing Finance Agency, has subpoenaed sixty-four issuers of mortgage backed securities to see if they misled Fannie Mae or Freddie Mac.  Let's see, Congress demanded that Fan and Fred buy sub-prime and Alt-A mortgages given out to sketchy borrowers.  Congress mandated it.  And buy they did, like furiously, ending up holding over a quarter-trillion dollars ($255,000,000,000) from a standing start around 2006.  THIS CAUSED THE FINAL HOUSING BUBBLE.  Now that that strategy has come unglued, putting the U. S. Government (and the People's Republic of China) at risk for something like $5,000,000,000,000 in toto that same U. S. government is second-guessing.  NOT FANNIE OR FREDDIE, but only the U. S. free-market participants.  Has any part of the U. S. government, the administration or Congress EVER admitted that what they did was wrong, or turned out badly?  NO!  And now even after putting $145,000,000,000 cash into "saving" Fan and Fred, plus issuing them an absolute blank check,  the government is trying to blame the free-market.  Without government intervention (which includes the Fed's free and easy money) there would have been no subprime meltdown or recession (and in all likelihood no Obama presidency, although that is subject to disagreement.) 

20.  Obama wants banks to lend more.  Bank of America Corp. warned that the financial industry takeover bill could cost it $4,300,000,000 every year plus a one-time charge of $7,000,000,000 to $10,000,000,000.  And on July 16 the stock tanked 9%.  Unintended or intended consequences?  You decide!

21.  And speaking of banks again.  The Obama Treasury Department is working on a system to appoint members of banks boards of directors when they fall behind on their payments.  Troubled Asset Relief [sic] Program said that while only one Califonria bank "qualifies" so far, literally hunderds of community banks of the 700 TARP recipients could easily get there.  Is this a government takeover or simply micromanaging?  Unintended or intended consequences?  You decide.

22.  Obama's wholly-owned Congress is considering taxing airlines' increasing fees for such things as checked baggage, seat selection, meals, blankets, headphones, everages and other services because they are, according to Democrat House Transportation Committee Chairman James Oberstar of Minnesota, "backdoor price increases" because these things were formerly free and private sector companies are apparently not going to be allowed to raise prices without Congressional approval.  And the government desperately needs the money.  Jobs?  Huh, what are they?

23.  The Obama Federal Trade Commission is cracking down on Nestle SA's advertising that its Boost Kid Essentials drink builds immunity.  It doesn't stand up to scrutiny.  Whatrever that means.  And is "standing up to scrutiny" in some Congressional regulation?   Ditto Kellogg's Rice Krispies.  (Boost is a nutritional drink often given to people who can't eat solid foods becasue of some medical condition.)  Parents are not and never can be capable of making decisions for their own kids.  Obama is, however.

24.  So Fannie Mae and Freddie Mac and Obama's own Federal Housing Finance Agency and Obama's Office of the Comptroller of the Currency oppose a home-energy-improvement program of the Obama admiinistration, that is being implemented in California.  The program is convoluted at best: municipalities can loan money through special property-tax assessments called Property Assessed Clean Energy ("PACE") for homeowners to install solar panels, energy-efficient heating systems and other stuff.  There's no safeguard that homeowners can repay the debt, but the government does not cares about  that.  But the state of California likes it.   Therefore, running-for-governor California Attorney General -- a Democrat like his leader, Barack Obama -- Jerry Brown is suing.  Suing Freddie, Fannie, FHFA and not to be left out, Obama's Comproller of the Currency to stop them from opposing that program.  Well none of it makes sense, but it isn't supposed to.  The more complicated government is, the more the citizens will give up and let the Democrats have their way with them.

Now, this whole play is so stupid it should be a crime!  No matter this is costing all of us rational human beings trillions of dollars tossed out like confetti by irresponsible, stupid, greedy, ignorant, Machiavellian Democrats thirstily doing anything to keep their pathetic government jobs.  The loans.  The "energy (in-)efficiency".The entities, the programs, the administration.  Micromanaging our world.

25.  (White House raises deficit forecast to $1,400,000,000,000 for 2011 and $8,500,000,000,000 over the next ten years.  Shhhh, don't tell anyone.)  and no the trial lawyers are not suing.

26.  The Obama administraton is doing what all along I thought it wanted to do.  Go into business.  Because certainly his "social justice" approach to business, where profits are so not needed, is preferable to the old, discarded idea of making profits.  In this little toe step, Obama's National Institutes of Health is developing drugs, an endeavor which is expensive, time-consuming and prone to failure.  In this case $24,000,000 of money doubtlessly borrowed from the People's Republic of China will target sickle-cell disease (for black voters), Chronic lymphocytic leukemia (CLL, which affects a couple hundred thousand voting adults);, Niemann-Pick Type C and hereditary inclusion body myopathy and finally schistosomiasis (this parasitic disease is most commonly found in Asia, Africa, and South America) and hookworm which damages 600 million people all over the wrold, but not much in the U. S.  No voters there but kudos to Obama for caring, that should bring votes.

27.  The first anniversary of Obama's teenage and black anti-job bill, raising the minimum wage 40% to $7.25 came and went.  Some analysts estimate this labor-union desired job-killer probably cost the U. S. 200,000 jobs!  Mostly teenagers and black kids.  Whose side are you really on, Barry?  Ideology over jobs.

28.  Edward E. Whitacre Jr. Chairman of GM announced August 5th that GM might NOT "go public" before the November elections.  Days later he is replaced as GM CEO.  Huh?  Obama is not micromanaging GM?  Huh??  No, it's all a coincidence, like the Toyota attacks.  (Whitacre was replaced by a GM board member who is beloved , if that is possible, by Wall Street.)

29.  This is great: Obama Treasury Secretary Timothy Geithner apparently promised out loud that the Obama administration would try -- gee, do our best -- to avoid killing the anemic economic growth while strangling the financial services industry with hundreds of new restrictions on every possible peripheral and mainstream participant in the industry.  He promised that the half-dozen federal agencies would work together to "safeguard the freedom, competition and innovation that are essential  to our growth" while micromanaging each participant, fixing products, prices and services in order to stop "too much freedom for predatioin, abuse and excess risk."  All to be defined in the future by a bunch of competing left-wing, anti-business bureaucrats.  That, of course, is both impossible and a simple bold-faced lie.  Democrats can't even decide on who should run the main octopus, a brand-spanking-new bureau, the Consumer Financial Protection (sic, well maybe not consumer protection.  It is specifically designed to protect Democrats' elections.) Bureau (which will have -- get this -- a $500,000,000 budget per year).  The CFPB (sounds like a banned chemical) is governed by a brand-spanking-new council,  the Financial Stability (sic for real) Oversight Council of ten members.  (FSOC doubtlessly pronounced foosock).  The secretary, I assume still straight-faced, then puked out another promise: to dramatically reform Fannie Mae and Freddie Mac, all taken over by Obama and granted a blank check on the U. S. Treasury.   No doubt it'll dramatically attempt to reelect Democrats and do nothing else.

30.   Let's get back to reality because all that wanton spreading of cash isn't real.  Can't be.  But what is: Intel settles an onslaught by the Obama's U. S. government anti-trust regulators, the Obama Federal Trade Commission.  With 80% market share of the world's microprocessor market (one invented by Intel) Obama's anti-business leftists need to rein in its success.  As Clinton did to Microsoft, Intel will operate under a leash held by the FTC.  Microsoft is struggling today.  Why does Obama and the far-left want to punish succes?

31.  Unions win rights to meddle in companies' businesses via the Obama SEC (3-2 vote) rule of "proxy access" making it easier for unions and other stockholders to nominate their henchmen as directors.

32.  Obama lackey isn't immune from his anti-business attacks.  General Electric Co. owner of Obama's main propaganda arm, The National Broadcasting Company (NBC) settles with Obama's SEC for $23,500,000 for paying alleged kickbacks to win Iraqi healthcare and water contracts.  This also settles a review by Obama's Justice Department.

33.  Just some anti-business information.  Plaintiffs' (sic) or trial or tort lawyers (choose a title) earned almost a billion dollars the first half of this year 2010 -- one-half year -- suing companies in securities class actions.  Actually $902,000,000.  That represents another in the continuing bonanzas for Obama and the Democrats to whom trial lawyers donate around 95% of their campaign contributions made.

34.  The GE settlement mentioned above had to do with the Foreign Corrupt Practices Act (or something like that).  Now here's an article from the Wall Street Journal wherein GM agrees to pay its Opel/Vauxhall unions in Europe about $1,400,000,000 if GM doesn't spend $14,000,000,000 over five years to overhaul Opel's vehicle lineup.   Is that a bribe to keep the workers' working?  If so, I guess it's OK because 1) Obama says it is and 2) Obama's attorney general Eric Holder won't investigate liberals.  And just where is broke GM goint to get all this cash?  Yes, ladies and gentlemen, from the People's Republic of China via the U. S. Government, to be repaid by the U. S. Taxpayer.

35.  Another indication of the Democratic government's anti-business stnace is in another WSJ article wherein it writes that lawmakers (Congress) and others are growing impatient at the relatively small number of senior executives that have been charged in connection with the allegedly neear-collapse of Wall Street.  This during a session where a federal judge refused to approve a settlement the Obama SEC made with Citigroup Inc. about subprime mortgage stuff.  The judge, she said she was "baffled" by it and wondered why two little guys within Citi were the only ones charged.  And to their credit, the SEC responded to it all saying it can only bring charges where it has enough evidence.  No doubt Obama will make them find it.  It ain't over til it's over!  Keep investigating businesses, Obama, you'll get a settlement from fear from time to time.

36.  Obama chooses the International Brotherhood of Teamsters union, its votes and power instead of American business and the creation of jobs.  Specifically a variety of producers and manufacturers of around a hundred products which will be impacted by Obama changing an agreement with Mexico from the North American Free Trade Agreement.  By refusing to allow  cross border trucking previously negotiated, Obama has forced an angry Mexico to greatly expand the tariffs on American products.  This support for the Teamsters union (like all unions a significant backer of Democrats) will cost profits and jobs of farmers and manufacturers of: ketchup, chewing gum, graperfruit, chocolate, dried fruit, to name a few, and extending not removing tariffs on pears, apricots, cherries, peas, almonds, potatoes and wines.  Consider  these Washington State jobs and profits lost when thinking of voting for Murray or Rossi in November.

37.  And finally (for now).  Obama's typically-knee-jerk (and I mean that word kindly) reaction in abruptly stopping drilling in deep water will cost 23,000 jobs as disclosed by Obama's own henchmen discussing.  And he talkes about "shipping jobs overseas"?  What about simply killing them as he has done?  23,000 here and an estimated 13,000 more if the moratorium continues another 6 months.  If Obama makes it permanent it might be more than 400,000 jobs lost.  But also the government wants to increase taxes on oil companies -- which will restrict their ability to expand and create jobs by finding domestic oil sources -- by upwards of $25,000,000,000.   No doubt competitors such as China and Venezuela will jump right in.  There are 9,000,000 American energy industry jobs at stake.

Wednesday, September 29, 2010


Is discrimination an active event, where a person or persons make a decision to hire or not hire a specific kind of human?  Or is the fact that sufficient numbers of that specific kind of human is working or not working for a company all by itself discrimination?

Is discrimination a statistical study or an active event?

Let's say I have a company with 100 employees, do I discriminate if
    a) I employ 10 African Americans when they represent 15% of the U. S. population?
    b) I employ 38 women when they represent 51% of the U. S. population?
    c) I employ 3 gay men and 2 lesbians when they represent 5% and 4% of the U. S. population?
    d) I employ 10 Hispanics when they represent 13% of the U. S. population?
    e) I employ 6 Koreans when they represent 7% of the U. S. population?
    f) I employ 12 people who weigh in excess of 150% of their ideal body weight?
    g) I employ 15 alcoholics when they represent 65% of the U. S. population?
    h) I employ 15 blondes when they represent 18% of the U. S. population?
    i) I don't employ any people of Japanese descent because they tortured my father in World War II?


After fifty years of central command, control and ownership of its economy Cuba is admitting that central control does not work.  DOES NOT WORK.   President Obama, on the other hand, either is so ideological he is clueless or he wants his own power at any cost to America.

Anyway for the first time in its history Cuba will lay off 500,000 state workers of its roughly 5,000,000 workers.  Until this move, unemployment was about 0% in Cuba.  Uncle Fidel will seek to boost (from virtually nothing) private enterprise in Cuba.  Interestingly enough, to whom will the private entrepreneurs sell stuff?  Pay in Cuba is about $20 PER MONTH, not bad unless you want to buy something.  And last week FIdel was quoted by a far-left magazine writer that communism no longer works. 


Now unsaid is whether the so-called wonderful, progressive social safety net, that Obama and his progressives so look up to,  will pay enemployment insurance.  I'd say start at $20 a month.


President Barack Obama directly or indirectly is the chairman of the United States Postal Service.  How is he doing?  Great, according to his metrics.  It lost $3,500,000,000 last QUARTER, annualized, that number would be $14,000,000,000!  Total expected losses over the next ten years?  Nearly one-quarter of a TRILLION DOLLARS.  PRIVATIZE!  No, Obama can't afford to.  There are 600,000 voters working for him in the USPS, making an average of $83,000 a year (in wages and benefits, about 50% above the rest of us us, on average).  Yes mostly uniionized with a portion of their wages going to elect Democrats.  Obama's solution?  Raise the cost of postage in this bitter, deep recession;  yes, of course, USPS is a government-established monopoly.  Even so it's being killed in part by FedEx and UPS.  In part by cluless management who want to keep the workers happy and voting Democratic.

Tuesday, September 28, 2010


NEW OBAMA BAILOUT.   $30,000,000,000  - $35,000,000,000 to take over 70% of the total assets of the so-called "wholesale" credit union.  These are the unseen backoffice providers of services to the consumer credit unions the public deals with.  The Obama National Credit Union Administration has not done its job.  Under federal regulations and rules wholesale credit unions could only invest in safe, liquid assets.  But no.  Regulator cute Debbie Matz said the need for a bailout came from unparallelled bad times and also "BAD DECISIONS" BY REGULATORS.  Finally a Fed who tells it like it is.  She said there should be no taxpayer losses in the governemt buying $25,000,000,000 of lousy paper for $50,000,000,000.  Huh?  Obviously she was trained by Obama!  The losses, whatever they will be, are a shadow of the heading-for-a-trillions of the Federal Housing Agence, Freddie Mac and Fannie Mae.  But after Obama's idiotic and failed pathetic attempt to bail out homeowners who got in over their heads, housing prices continue downward.  Housingt prices continue downward!    Obama's Bernacke Federal Reserve System continues the easy, cheap money strategy that got us into this mess in the first place.  Now it's yet another desperate, mindless attempt to help.  It is not working even with modern record low interest rates.

Obama your ignorance is sinking the ship we built!

Friday, September 10, 2010

No, I am not saying we're getting like Nazi Germany...

No, I am not saying we're getting like Nazi Germany here in the United States of America.  But there are some "initiatives" that remind me of some of the "initiatives" there, back then.

One is informing on your fellow citizen.  I think it immoral and undermining of respect for others when the government of the United States pays citizens to inform on other citizens.  This is part and parcel of the July, 2010, legislation entitled the Dodd-Frank/Obama U. S. financial services industry takeover bill, or something like that.

Ratting out others could reap as much as 30% of any recovered funds and penalties collected by the Obama Securities and Exchange Commission.  That could add up to huge paydays of millions, multi-millions of dollars.  This in addition to so-called whistleblower acts where an individual who successfully pursues a "Qui Tam" action is entitled to a bounty that ranges from between 15% to 30% of the government’s recovery.  (Qui tam is short for "qui tam pro domino regequam pro se ipso in hac parte sequitur", or "who pursues this action on our Lord the King’s behalf as well as his own", even though this law preceeds the present president.)  These, I think "stool pigeon" is the legal term, people are then protected from whatever the govenment thinks is "retribution" from their squealing, whether done in good faith or not.

The manifest consequences of these actions have been and will be more class-action and other lawsuits, enriching the Democrats' major source of campaign contributions, trial lawyers;  more unfounded charges and accusations intended to neuter competitors; and frivolosity simply to get back at hated fellow employees.  But most important it builds a current of distrust in America, where fellow citizens are to be watched closely and everyone must look out for one's own back.  This will add to the operating expenses of companies from litigation and legal and accounting protections as employees go to the government to score bucks rather than to company executives to solve problems.  

It is wrong.  It undermines basic trust in America.  Courtesy of the Democratic Party.


Our major competitor, the People's Republic of China is eating us for lunch.  While President Barack Obama is busy jawboning down, investigating, suing, and tying up hundreds of productive, job-producing American companies with oppressive, crippling new regulations and rules.  Please see previous posts.

Formerly the most powerful creator of wealth in the world, the most innovative and the most moral, the United States of America is losing ground fast in large part because of the tone and legislation from our bitterly anti-business president and Congress.

The Agricultural Bank of China Ltd has raised the most money ever through the largest initial public offering in the history of the world.  President Obama, you might not understand the capital raising process that was essentially invented in the United States of America, but it is one of the most significant reasons the United States of America has enjoyed the most wealth and the highest standard of living in the history of the world.  Under your watch, Mr. President, we are losing.

$22,100,000,000.  I know that's nothing to you, Mr. President, given your possession and use of the U. S. Treasury, but it's the largest IPO ever...from a Chinese company.
So go after Intel.  Go after Google.  Go after United Health.  Go after free enterprise.  Go after them all, sir.  Revel in the decline of our country...

An added bonus is that the U. S. fell to fourth in the World Economic Forum's global competitiveness study, down two spots.  China moved up two spots.

Friday, August 13, 2010


The Democrats in Congress (minus two, but plus two Republicans) passed a $26,000,000,000 (that's billion) bill to spend $16 billion bailing out various states which are running gigantic deficits -- with strings attached!  But never mind the fine print, in all likelihood it was voted in without anyone reading it.  ("Trust us" says Pelosi and Reid.)  This will help struggling states' Democratic politicians out during this upcoming election.  Being that Democratic-run states -- with their profligate spending for unions -- are in the worst shape, they'll undoubtedly gain more from this, think California, Illinois, and New York.  Rather than make their states more efficient, governors know that Obama will simply borrow from China to keep their states afloat.  Efficiency, cost cutting?  Who needs it anyway, when we've got our Sugar Daddy Barack?  We can put off to another day a return to reality, we've got elections to buy! And we've got China, who'll be loaning us the money!
 $10,000,000,000 (yes, again billion) will  go directly to teachers' unions via the states.  Not necessarly to TEACHERS, because admin bureaucrats make up a goodly portion of teachers' [sic] union membership.  Just to remind you, teachers-unions' bosses are major supplier of campaign contributions to the Democratic Party.  A good guess might be that 2% of that $10 billion will go into union coffers, which adds up to a couple hundred million.  Something like 90% of teachers' union bosses' campaign contributions go to Democrats and, say, if 20% of dues goes to campaigning, Democrats would augment their campaigns by $30,000,000 (if my math is correct!) directly from the backs of our children and grandchildren in an one-time shot against Republicans.  China is simply the intermediary, IF our children and grandchildren can repay China.  If not, they will go to work for China (in the U.S.A.!)  Actually Democrats say they'll pay for [sic] it by slashing poor people's food stamps (who needs the poor?  They can't contribute much to Democrats)  And from that old trusty source, evil, blood-sucking,greedy corporations (the same ones who employ people, but not enough union workers.  Dems say: We don't need jobs we need union jobs so we can use their dues to get reelected.)


Friday, July 16, 2010


When President Barack Obama signs the Financial Takeover Bill, expected next Wednesday, July 21
It will signify the end of the greatest, most successful experiment in society ever accomplished by mankind.  It has been brought to its knees, headdown on the block, awaiting beheading.

Our Founding Fathers risked their lives and fortunes to be rid of the arbitrary rule of a British monarch, King George III.  234 years later we are under the arbitrary rule of a meglomaniac, inexperienced president and his crony Congress.  Our Constitution granted every American citizen the freedom to seek his or her own happiness as he or she decided for him or her self.  (Get that politically-correct gender stuff?)  Those same constitutional freedoms have been usurped by unelected, idealogic bureaucrats given permission by the micromanaging Congress, filled generally with lawyers unfamiliar with actually working and accomplishing in the so-formerly-called "private sector" (please look up that anachronistic term).

Those bureaucrats will be telling our citizens what to eat; what clothes to wear; toys to play with; cars to drive; how to get well; how much money to make and what products and services to offer (as of now, this is for companies only); what loans to get; how much money to keep after paying taxes on whatever monies these individuals choose; and on and on and on.

These people have as much power over the common citizenry as George III and his aristocracy.  And they are just as arbitrary. 

From the thin air of so-called environmentalism, President Obama has ruled that the electric-car industry will be born, with hundreds of billions of taxpayer dollars spent.  The most-efficient energy source for transportation, gasoline, will be regulated away by fiat.  Arbitrary?  Most definitely.  No one asked me if I want an electric car.  (I don't.)  American citizens will be forced to purchase health insurance; it is not a huge leap of faith to see the government forcing American citizens to only purchase electric cars.  Evidence is that most citizens don't  want to buy them.  A $7,500 bribe of taxpayer money is only the start!

And doubt not: all this legislation is to achieve one end: dictating the rule of so-called-progressive politicians on American citizens.  These "laws" are all fuzzy and non-specific in order to attract campaign contributions for Democrats (so-called-progressive politicians) from lobbyists trying to buy advantage and to encourage lawsuits by tort/trial lawyers who tithe a portion of their vast, uncountable riches to those self-same Democrats, incorrectly labeled "law" makers.  The final nail in the coffin of American capitalism comes from the other major financier of Democrat/progressives: labor union bosses.  In exchange for their power over government workers, they finance the campaigns of Democrats who set their wages, perks and retirements.

My personal wake begins today for American freedom. 

The Democratic Party has successfully launched and won the takeover of the American economy and society.  With it, they will preside over the dismantling of the AMERICAN (and World-wide) DREAM, may it Rest in Peace.

Super-sad American

Thursday, July 15, 2010

Financial Takeover Accomplished, Government settles with Goldman

On May 24th I wrote in my blog, this one,, ("Goldman discusses settlement with SEC"):

"Another conspiracy theory: Obama sues Goldman, Sachs to provide the far-left media with fodder to push 'public opinion' against banks, bankers and Wall Street, no matter any reasonableness of evidence. To add substance the government is "investigating" Morgan Stanley for something or another. The story is the end game. Obama desires to grease the skids of his financial industry takeover and the governmnet actions pave the way. And the slurping, pandering media is nothing but a willing propaganda arm for him. And, gee whiz, the Senate passes his bill with four Republicans supporting it. But wait, it's not law yet. The Senate must reconcile its passed bill with that of the U. S. House of Representatives. It'll be another month, month-and-a-half to gather in all the campaign contributions for the November elections, then the 1,500-page bill will most certainly pass, with settlement of the Goldman suit following soon thereafter. And the 'investigations' of Morgan and other banks will slip unnoticed from Justice.

Justice. The Rule of Law. GONE!"

Well that was then, now here it is.  On  July 15, 2010, a little over my declaration of May 24's "month, month-and-a-half", and presto!

From Reuters: Fri Jul 16, 2010 1:47am IST:

"REUTERS - The U.S. Senate on Thursday gave final approval to a sweeping bill to reform financial regulation, sending it to President Barack Obama to sign into law."  (And it's up to 2,300 pages.)


(Also from Reuters (, 2:14 P.M. July 15, 2010, Pacific Standard Time):  "Happening Now:

Live Coverage: Goldman Sachs settles with SEC
SEC says Goldman to pay record $550 million to settle CDO-related charges"

But of course...Reuters then writes: "SEC says timing of settlement unrelated to passage of financial regulation. Full coverage of regulation here: by at 7/15/2010 9:05:30 PM2:05 PM"

As I predicted, Obama sues Goldman to pass his financial takeover bill, the legislation passes both Houses of Congress and Obama settles with Goldman.  If this isn't disgustingly corrupt, I don't know what is.

The American people are the Business Community

This is what is wrong with our country. No, it’s not the president making profound verbal pronouncements, never backed by action nor truth, nor appointing commissions to come to conclusions (after elections) that shield politicians from decision-making. No, it’s the philosophies that are implicitly stated in this article. ["Revisiting the Regulations Affecting Business", The Wall Street Journal, Monday, July 12, 2010, page A4.]  “..[T]he administration faces pressure from the left not to bargain too much away [my emphasis] to corporate interests [again my emphasis]”. In this scenario “business interests” in the minds of “the left” are evil, greedy graspers who simply seem to want more of something the administration possesses and is able to bargain away. Then, more explicitly, is the following comment by the White House chief of staff Rahm Emanuel pitting the “business community” which, of course in his mind wants to diminish and undercut the “health and safety of the American people” which the left, of course, again to his thinking, wants to protect: “The president has said that he is interested and open to the business community’s perspective on examining regulations [whatever that means!], but a lot of important equities [whatever that means!] need to be weighed against each other, such as the health and safety of the American people—and no one interest outweighs another.” So President Obama sees the business community as being one “interest” and the health and safety of the American people as being another and the two of them being at absolute odds with each other. What about the unique concept of the “business community” [a distinct monolithic entity in the view of the left, as opposed to millions of separate entities, each with individual needs and desires, which is reality] being part and parcel of the American people, which, after all are the owners, operators and workers of the “business community”. Only in the eyes of liberals are the two separate, each fighting the other in an inevitable conflict to the end. The reality is that liberals need this (widespread) notion in order to gain and retain power. Republicans – and conservatives – seem unable to articulate this fact. The truth is that the “business community” – AKA the American people – have created wealth for the world and the United States government by its innovation and entrepreneurship. The American people ARE the “business community” and our government, purporting to represent us, should demonstrate this (not to mention understand it) and not simply exhibit headline-gaining, but empty “broad policy reviews”. Our country is facing unprecedented competition from a world of countries which have learned from us; rather than facing them squarely in the marketplace, our leaders are throwing the game to them.

Visualize union leaders working closely together with corporate leaders to gain a competitive advantage over, say, Chinese companies, with the wealth from success flowing back to the United States and into the hands of the American people. We are a people together. If only our politicians understood this!

Wednesday, June 30, 2010

The Pet Gets the Cash. The Story of Fisker.

Obama gives $528,700,000 to one of his pets, Fisker Automotive.
The taxpayer-backed half-billion dollars (funded no doubt by the People's Republic of China) "invested" in this Obama venture capital (aka Obama Capital) startup, will help Fisker build the ultra-luxury $89,000 Fisker Karma, which is to be built in Finland, and its next generation model, perhaps called the "Obama".  This separates President Obama from Chancellor Adolph Hitler who financed the building of a "people's car" which became Volkswagon.  Obama's Fisker is not made for the unwashed masses, but for the rich, obviously, at nearly $90,000 base price.  It has been described as "the eco-friendly love child of a Jaguar and a Ferrari."  It is built in Finland; at least the Volks was built in Hitler's country, Germany.

Biden gets his hometown's former G. M. plant reopened.
U. S.-owned company General Motors closed a plant in Vice President Joseph R. "Joe" Biden, Junior's hometown of Wilmington, Delaware, in July 2009 during its bankruptcy. Now Obama's pet "venture capital" deal, Finland-based Fisker Automotive plans to build hybrid electric cars in that very same Biden plant! Soon, good old Joe is scheduled to visit the plant, near his hometown, Wilmington to brag of this ultra-earmark..

OK, Obama gives Fisker a half of a billion dollars to reopen a plant in Biden's hometown to build a luxury car most Americans cannot afford..  So far so good.  G.M. gets around $18,000,000 for the 3.2 million square feet manufacturing facility.  $5.625 a square foot.  (Cost to build, probably $50 a square foot.)

Fisker Plug-In Plant Will Be Union, UAW 'Essential' Says Company (

Fisker Automotive plans to welcome the United Auto Workers Union with open arms if its deal to acquire a former GM plant in Delaware goes through as planned.

While most private sector automobile companies try to avoid unions, especially in new plants, a Fisker spokesman told Green Car Advisor that Fisker is "looking to establish a mutually beneficial partnership with the UAW" as it opens its first U.S. assembly plant.  The new plug-in hybrid "rich family sedan" is expected to startup  production in late 2012, with a presently-anticipated price of $48,000.

The plant expects to employ as many as 2,000 at full capacity, a cost of $264,350 per job "saved or created".

Friday, June 25, 2010

Bribery Gains America Nothing

Sales of new homes plunged in May, 2010,after the Obama tax credits to buy new homes expired.  My response, "Well, duh".  One of myriad stupidities, Obama gave taxpayer money away so people could buy new homes.  They did!  Proves people can be bribed.  But end the bribe and: no purchases.  Off 33% from the month before to a record low -- A RECORD LOW -- seasonally-adjusted RATE of 300,000.  And Mr. Obama just what did we, the United States taxpayers, get for this?  Not much of anything at all except we owe China a few hundred million dollars more.  And consumers buy things they don't necessarily want to buy but Obama wants them to.  This is the genesis of the entire financial meltdown: government and politicians wanting something accomplished that is opposite to what the free market can do.

It is idiocy thinking as Obama and his possee of socialist-leaning lemmings do, that bribing consumers to consume can do anything for the economy.  A one- or two-month shot in the arm followed by nothing.  It is simply ignorant and stupid.  As is our president.

Thursday, June 24, 2010

The Tide Has Turned

The Tide Has Turned.  It looks as though much of the Left-leaning media, many late-night Left-leaning "comedians", and, most importantly, the Left-cpntrolled Congress is turning against President Obama and his uber-radical attempt to change the American Society into some utopian-socialist absurdity.  (As with Stalin  and Hitler, it would, of course have had Obama in absolute charge, micro-managing every element of society.)  The inexperience and far-left ideology of Barack Obama (the nation's first American Idol-- The President) which I outlined in this blog July 8, 2008, entitled  "2008 Presidential Election" is becoming abundantly clear to most rationally-thinking Americans.  These same Americans are turning back the tide, tossing out not only incumbant Democrats, but useless Republicans with no goal other than keeping their cushy jobs.

Perhaps with the latest fiasco with the Afghanistan War generals, it is the last straw or perhaps a last straw.  We can hope for: 1) Obama's emasculation (assuming he was masculine in the first place); 2) Conservative -- real conservative -- capturing of the majority in one House, perhaps both, of the Congress and the rolling-back of the most deficit-inducing egregious Healthcare Takeover, stopping the continued left-wing political transformation/capture of the Supreme Court (which hopefully will start with rejecting Elena Kagan next week), the regulatory framework of this country and our formerly-free society; then 3) electioin of a conservative -- real conservative -- president in 2013 to finally bring this country back to the Rule of Law, respect for private property and adherence to the Constitution.  And Freedom once again.

It's been far too long!

Wednesday, June 23, 2010

"Arbitrary and Capricious"

Federal Judge Martin Feldman inadvertently summed up the the entire Obama Administration in his decision overturning the president's "arbitrary and capricious" six-month moratorium on deep-water oil drilling in the Gulf of Mexico.  Painting his sharp reprimand with detail he added, that even presidents couldn't impose an unjustified "edict"'; that the administration couldn't even define "deep water";  that it didn't mention any "irreparable harm" to justify such a sweeping moritorium; that it offered "no evidence" of a balance of environmental concerns with the immense scope of the moratorium's "irreparable harm" to jobs.  And finally, that the administration's claim that its so-called "safety report" was "peer reviewed" was a lie - "factually incorrect" plus it "abuses reason, common sense and the text at issue".  That there was no "probity" (defined as "absolute moral correctness" and "a very moral and honest way of behaving") in its decision.

In summary the Obama Administration was:

arbitrary and capricious
one-sidedly prejudiced

Now let's glide over the headlines and body of today's Wall Street Journal (Wednesday, June 23, 2010):

"Business Group Slams 'Hostile' Policies on Jobs" of the Obama Adminsitration. (page A4)

Director of Obama's Office of Management and Budget Office decides to resign after overseeing a 2009 Obama Budget deficit of $1,400,000,000,000 ($1.4 trillion) or 10% of U. S. GDP a number not seen since World War II.  Projections are for it to skyrocket to $11,000,000,000,000 ($11 trillion)over the next ten years.  I'd quit, too.  Peter Orszat helped ram through the "stimulus" (see next) and the healthcare industry takeover, which is looking like an additional major deficit producer. (page A4)

"States Face New Pinch as [ineffective] Stimulus Ebbs".  Of the $787,000,000,000 so-called "stimulus", $150,000,000,000 went to states to prevent union-member layoffs and provide temporary funding for federal government-mandated healthcare (primarily Medicaid) which runs out at the end of the year and the rest went for tax relief, grants (many to non-profits), contracts, and awards (none of which demonstrably created any  jobs).  Scott Pattison, executive officer of the National Association of State Budget Officers, said "Stimulus is going to run out and there isn't sufficient economic growth that's going to come in and make up for the loss of those funds".  The "stimulus" is an abject failure.  But state and local government (union) jobs have been protected, losing only 230,000 jobs against 8,000,000 gone in the private sector.  States want $24,000,000,000 more to balance their budgets on the backs of U. S. citizens at large.

"Obama Tangles With Insurance Executives Over Rates" (page A4).  President Obama warned health insurance executives not to raise rates "unreasonably" (an arbitrary and un-definable word).  Obama's new hugely-costly regulations which cover people without insurance, prohibit denial of care (which is highly-regulated by states already), stop lifetime caps and limit annual caps, force adults up to age 28 to be covered on their parents' plans vastly increase insurance companies' costs.  Finally it fixes profits ("price fixing") of health insurance companies at 15% to 20% of premiums (depending on type of insurance, which figure includes administrative costs), but, of course, the Health and Human Services Secretary can by law modify such regulations on a case-by-case arbitrariness (undermining, of course, the Rule of Law completely).

But the greatest set of articles concern the upcoming G-20 (Group of worldwide twenty major industrial and developing countries) meeting.  "France's Lagarde Forecasts Austerity", "U. K. Unveils Severe 'Unavoidable Budget'", "Japan Lays Groundwork for Cutting Massive Public Debt" and "Bank Tax Gains Backers Before G-20" (all page A11), "Russia's Economic Czar Tackles Deficit, Bureaucracy" (page A13).  All these articles highlight the unavoidable need for countries to slash deficits.  Except America.  Obama tells other countries to slash and burn deficits AND to force their conumers to save less and spend more on imports (hopefully from America) WHILE the U. S. needs to continue its deficits and sell more of its imports.  DO AS I SAY NOT AS I DO.

As for the slashing and burning our deficit, Mr. Obama slyly slides it under the table with a "deficit commission" to report AFTER the upcoming mid-term elections while continuing to spend like a cocaine-addled maniac. "White House Backs Electric-Car Aid" (page B3).  Yes, Mr. President, toss out another $8,000,000,000 ($8 billion) to spend on his favorate subsidies to build electric plug facilities, car-batteries.  While the most efficient, low-cost, reliable transportation source, the internal-compustion engine, recipient of over a century of innovation and investment is disregarded along with other possibilities such as fuel cells.  This is in addition to $25,000,000,000 ($25 billion) given to help auto makers retool for electrics; $2,400,000,000 ($2.4 billion) for battery development and an unspecified number of billions of dollars for paying consumers $7,500 each to buy the unwanted vehicles.  (The same amount it a paid consumers a year ago to destroy old gas-powered cars.)

But is there a sliver of hope?  Mr. Obama's $24,000,000,000 ($24 billion) of desired further "aid" to states for another six months of unemployment payments was stripped out of a House bill and may be by Senators.  Hmmmm.  But it's only a sliver by Congresspeople hungrily doing anything the can -- even slow spending increases --  to keep their cushy jobs.

ARBITRARY AND CAPRICIOUS IS ABSOLUTELY OPPOSITE TO THE RULE OF LAW, where citizens can rely on laws passed by legislatures, not the offhanded arbitrary decisions by monarch-wannabes like Barack Obama and his far-left posse to buy votes, reward supporters, subsidize things they want. 

Thank you judge.

Friday, June 18, 2010

The Second Civil War

The Left will never give up. They are committed to winning at all costs to the country. The mere mention that they should or might is wrong...They are in it to the end...the end of America. The lackadaisacal attitude of some of those on the Right is alarming. Bush allowed the Left to make great strides, with the consent of the Republicans in Congress. Where did this get us? Creeping socialism turned into a gallop. Obama and the Democratic Congress have ripped up the Constitution and completely disregard the Rule of Law -- a basic foundation of our society. Bribery, extortion, propagandistic lies are all the basic foundatiuon of the Left. Every one of us rational, country-loving citizens must realize that we are in a Second Civil War -- a fight to the end. If they win -- and have no doubt they are -- it is the end, the end of the country we love.

For proof just check out the chaos of Katrina being replicated by the chaos of the BP oil spill.  While not admitting it, the Federal Government has micromanaged with regulations every bit of oil exploration, drilling and production.  The direct cause of the Spill is in the government not allowing easy drilling in easy places.  Prohibitions by environmental advocates, promoted by those to whom the money and votes of the environmentalists go -- Democrats aided and abetted by a lackadaisical , leaderless Republican Party (caring as with Democrats more about their keeping their cushy jobs than what's best for the country) are at fault.

But faults aside, the ineptitude and chaos of Katrina and the Spill is...bureaucracy.  Vast numbers of non-motivated, "tenured" government employees, advisors and consultants without leaders.  That brings the anarchistic chaos which is the description for most governments and even many private-sector bureaucracies.  Our government is unmanageable.  Especially with a clueless, inexperienced president.  But the oligarchy of the Left keeps adding voters (government employees, beneficiaries of government largesse, with tax money from a relative few and the insane Social Justice socialists.) 

If the interest rates of U. S. gtovernment debt increases anywhere close to where Jimmy Carter took them, this country is bankrupt.  For example 8% of the $15,000,000,000,000 declared U. S. Government debt is $1,200,000,000,000 each year, around 1/3 of all federal income tax reciepts.  One-Third. 

The U. S. Economy is managed by a president who desperately hates business, thinking it the root of all evil.  He is systematically destroying free-enterprise business in America.  Destroying with tax increases, tight money, crippling regulations, frightening investigations and with BP, clear extortion of $20,000,000,000 to be given to his "friends" on the Left to "manage" and dole out to those they arbitrarily consider "needy".  Oversight?  Ha! Ha! Ha!  The joke's on us for allowing them to dictate and BP to cave in.  And, BP they won and like all extortionists, they'll be back, and back, and back until they have drained you and thrown you away.  And yes, some workers in the Gulf will get some, but I'll bet, windmill, solar "initiatives" -- invironmetnalist-friendly subsidies -- will get much.


Tuesday, June 1, 2010

Published Letter by your humble correspondant

LETTERS [Published in The Wall Street Journal] JUNE 1, 2010 [page A18]

The Bond Market Vigilantes Could Do Us Some Good Article

Comments [The article follows]

Nowhere in Mr. Blinder's article does he mention the concept of growth. His only methods of reining in cripplingly high interest rates are: spend more, export more (by currency devaluation) or spend less. All these together will not solve the problem. As is well known, but for political reasons not exercised in practice, you can't cut your way to prosperity. So what's left? What is the answer? Growth. Only by getting an economy bigger can it pay down debt, create jobs and finance social justice. A simple concept, but one resisted by liberals who don't at the core believe in the only path to that growth: successful businesses. Successful, growing businesses are the only way for an economy to grow. That growth can only come from activities anathema to liberals: lower taxes, reduce regulations, and downsize government. Add that to your arsenal, Mr. Blinder.

Theodore M. Wight

[The article]: Thursday, May 20, [The Wall Street Journal]


Remember the bond market vigilantes, that frightening band of financial marauders who once roamed the earth like a fearsome herd of Tyrannosaurus rex? They were so scary that in February 1993, as President Bill Clinton struggled to reduce the federal budget deficit, James Carville quipped that he wanted to be reincarnated as the bond market so he could intimidate everybody.

Well, they're baaack! Not in the United States, though. Here, the Treasury Department continues to borrow brobdingnagian sums of money at extremely low interest rates—about 3.5% for 10-year Treasurys and under 1% for two-years lately—even though everybody knows that the federal budget deficit is on an unsustainable path toward the stratosphere. (Could it be that not everybody knows?)

But the bond market vigilantes have landed in force in Europe. Their beachhead, of course, is Greece, which all but invited them in with—how shall we put it?—a certain lack of fiscal probity. The ensuing roller-coaster ride of ups and downs that have roiled stock, bond and currency markets around the world is apparently not over. As you read this, the markets may be either sinking or soaring on the latest news out of Europe.

Greece recently signed up for an International Monetary Fund program—the sort of treatment once reserved for supplicant developing countries. It also now has the European Central Bank (ECB) buying its bonds, access to the European Union's new €60 billion bailout fund, and potential access to bond guarantees via a €440 billion "special purpose vehicle" that euro-zone countries promise to cobble together if necessary. But all this has only partly calmed the Aegean waters.

Here's the problem: Bond market vigilantes can be a force for good or ill, often both at the same time. The bond market is certainly powerful, as Mr. Carville saw—but it's not always wise and it's rarely subtle. Once the vigilantes get riled up about, say, budget deficits, they can turn into an electronic mob that circles the globe faster than Hermes. Unfortunately, the basic economic message about deficit spending today requires some subtlety: Most countries need fiscal stimulus today but a large dose of deficit reduction in the long run.

To fight the 2008-2009 recession, many countries deliberately increased their spending and/or reduced taxes, thereby swelling their budget deficits. That was the right thing to do under the circumstances, because private spending was drying up and unemployment was on the rise. (Ask the oracle: John Maynard Keynes.) Or, more correctly, it was the right thing to do as long as the higher spending and lower taxes were temporary—as was typically, but not always, the case.

The trick was to promulgate major short-run fiscal stimulus programs without spooking investors about the long-run fiscal outlook. And it worked—for a while. But now the bond market vigilantes have been awakened and are spoiling for a fight. I worry that they may force many European (and other) countries into premature fiscal contractions.

Sadly, it is already too late for Greece, where sizable tax hikes and expenditure cuts are coming to a land where gross domestic product has already declined for five consecutive quarters. It is hard to imagine how Greece can avoid a nasty slump. If we look for historical examples of countries that have lived through major fiscal retrenchments without recessions, we find three principal ways out. But two of these options—easing monetary policy and depreciating the currency to boost exports—are unavailable to euro-using Greece.

The third way is to ignite a bond market rally by convincing traders that you've got religion on fiscal responsibility—which is what happened here during the Clinton years. (Full disclosure: I was part of President Clinton's original economic team.) Could the Greeks have accomplished that by themselves? It looked unlikely without intervention from Mount Olympus, which is why the EU rode to the rescue.

The more important question now is whether the rest of Europe is under a similar threat. Greece accounts for less than 2% of European GDP, so a sharp recession there—if it's only there—should have only minor demand spillovers to other countries. But with most of the other 98% of Europe growing very slowly, large fiscal contractions are not exactly what the macroeconomic doctor ordered. (Ask the oracles: Herbert Hoover or former Prime Minister Ryutaro Hashimoto, the "Herbert Hoover of Japan.") The ECB seems unlikely to help by cutting interest rates further. But the value of the euro has fallen, which should give exports a boost.

From a long-run perspective, the bond market vigilantes have it right. Greece, Europe, the U.S. and other countries must take serious steps to get their budget deficits under better control. And the long-run budget problems of many nations are too large to be solved exclusively on either the tax side or the expenditure side.

The U.S. is a case in point. Under continuation of current policies, our budget deficit and national debt would soar to impossible heights. (Ask the oracle: the Congressional Budget Office.) The amount of deficit reduction needed to stop this incipient explosion is so large that no serious person should believe we can do it without both spending cuts and higher taxes.

But not yet, please. And therein lies the difficult-but-essential subtlety.

St. Augustine urged the Lord to make him chaste, but not yet. Now budget and finance ministers around the world, including our own Peter Orszag and Tim Geithner, must make an analogous plea to the bond market vigilantes—and back up their words with deeds. The problem is that the vigilantes are an impatient lot and Greece has set their clocks ticking faster.

What needs to be done varies enormously by country. Here in the U.S. Social Security reform, once considered the third rail of American politics, is now the low-hanging fruit of deficit reduction. Fixing Social Security's finances is easy, technically. And the timing is perfect because promising deficit reduction now but delivering it later is exactly the right thing to do. After all, no one wants to raise payroll taxes now or reduce retirement benefits without giving people many years of advance notice.

When the Greenspan Commission "fixed" Social Security's finances (for a while) in 1983, it delayed much of the pain for decades. Its proposals not only passed Congress in a flash but have raised barely a whimper of objection since.

Pulling off something like that today might be a good way for the U.S. to steer a middle course between the Scylla of the bond market's wrath and the Charybdis of premature belt tightening that damages the recovery. Hey, Odysseus managed it.

Mr. Blinder, a professor of economics and public affairs at Princeton University and vice chairman of the Promontory Interfinancial Network, is a former vice chairman of the Federal Reserve Board.

Further comment.  It is clear that the Democratic Deficit will never ebb.  The Party cannot get elected without the financial support of one of the main causes of the deficit(s): labor unions.  They buy the Democrats' elections in exhange for cushy jobs, with high pay, early retirement, and guaranteed work.  The Democratic Congress will never step out of its fat jobs, the rest of the country who get badly hurt by the selfishness of the union bosses need to elect Republicans, Tea Partiers, Libertarians.  Anything but Democrats looking out for their own interests ahead of those of the American Citizen.  We need to weed out all --  all politicians, bureaucrats and "activists" who are against the success and growth of businesses.