McCain has given up.
What you can look forward to.
The secret ballot for union members will disappear.
$1000 rebate to families paid for through oil company profits. Four years of non-investment by the oil companies. Higher gasoline prices when the economy recovers.
$25 billion in extra taxes to pay for State Growth plan. To pay for home heating for the poor and housing assistance.
$25 billion in extra taxes to pay for Job Growth plan. To repair bridges, roads and schools.
$500 per worker tax credit.
$4000 tax credit for college. Recipients are required to give 100 hours of community service. Basically paying $40 an hour for community service. Include a 10% income tax rate and 8% Social Security tax, that is basically a $50 an hour job.
$1500 for Child Care for one child $3000 for two. .
Seniors making $50K would not pay taxes. With an average savings of $1400. Multiply by 7 million seniors = $9.8 Billion per year tax loss.
10 million mortgage owners will get a $500 tax credit. Cost $5 billion per year.
$150 Billion over ten years invested in green energy projects.
$60 Billion additional over ten years for security in transportation.
Additional Health Care Costs - Amount unknown.
$500 match of retirement savings for families earning less than $75,000.
Saturday, October 11, 2008
Palin Inquiry
"The report continues, “In light of this constitutional and statutory authority, it is clear that Governor Palin could fire Commissioner Walt Monegan at will, for almost any reason, or no reason at all.”"
"After months of “repeatedly ignoring the governor’s budget priorities, making public statements that directly challenged the governor’s policy agenda and taking numerous unilateral actions in conflict with the governor in support of his own policy agenda, his replacement in July 2008 should have come as no surprise,” that report said."
link
"After months of “repeatedly ignoring the governor’s budget priorities, making public statements that directly challenged the governor’s policy agenda and taking numerous unilateral actions in conflict with the governor in support of his own policy agenda, his replacement in July 2008 should have come as no surprise,” that report said."
link
Friday, October 10, 2008
Farrakhan on Obama
"Nation of Islam leader Louis Farrakhan, another powerful Chicago-based political figure associated with the Rev. Jeremiah Wright and other long-time associates of Democratic Party presidential candidate Barack Obama, is leaving no doubt about what he thinks of the leader in the campaign for the White House.
He says when Obama talks "the Messiah is absolutely speaking."
""You are the instruments that God is going to use to bring about universal change, and that is why Barack has captured the youth. And he has involved young people in a political process that they didn't care anything about. That's a sign. When the Messiah speaks, the youth will hear, and the Messiah is absolutely speaking.""
long version
link
Obama on Farrakhan
Stealing an election?
link
"An analysis of campaign finance records by The New York Times this week found nearly 3,000 donations to Mr. Obama, the Democratic nominee, from more than a dozen people with apparently fictitious donor information. The contributions represent a tiny fraction of the record $450 million Mr. Obama has raised. But the questionable donations — some donors were listed simply with gibberish for their names — raise concerns about whether the Obama campaign is adequately vetting its unprecedented flood of donors."
"The questionable donations to the Obama campaign, most of which appear to have been given in small increments online, are bolstering the contentions of some campaign finance groups that additional disclosure requirements are needed for contributions of $200 or less."
" Roughly 70 percent of these contributions to Mr. Obama are not reported, compared with more than 75 percent of Mr. McCain’s."
"questioning the legitimacy of the more than $220 million in small donations to Mr. Obama’s campaign."
"An analysis of campaign finance records by The New York Times this week found nearly 3,000 donations to Mr. Obama, the Democratic nominee, from more than a dozen people with apparently fictitious donor information. The contributions represent a tiny fraction of the record $450 million Mr. Obama has raised. But the questionable donations — some donors were listed simply with gibberish for their names — raise concerns about whether the Obama campaign is adequately vetting its unprecedented flood of donors."
"The questionable donations to the Obama campaign, most of which appear to have been given in small increments online, are bolstering the contentions of some campaign finance groups that additional disclosure requirements are needed for contributions of $200 or less."
" Roughly 70 percent of these contributions to Mr. Obama are not reported, compared with more than 75 percent of Mr. McCain’s."
"questioning the legitimacy of the more than $220 million in small donations to Mr. Obama’s campaign."
Did Obama give $800K to ACORN?
link
"Sen. John McCain on Friday accused his rival of being connected to a group it said was conducting voter fraud, calling for federal investigations and media inquiries into the progressive group ACORN and its ties to Sen. Barack Obama."
""ACORN is an organization that has violated the law on a repeated basis," Davis said. "Barack Obama has given $832,000 within the last year to an organization that is a front group for ACORN.""
"He alleged that Obama's campaign had paid $832,000 to a group called Citizens Services, Inc., which Davis labeled "a front organization" for ACORN. He accused Obama's campaign of initially trying to hide its payments to the group by labeling the payment "events services" in their disclosure forms."
link
"Sen. John McCain on Friday accused his rival of being connected to a group it said was conducting voter fraud, calling for federal investigations and media inquiries into the progressive group ACORN and its ties to Sen. Barack Obama."
""ACORN is an organization that has violated the law on a repeated basis," Davis said. "Barack Obama has given $832,000 within the last year to an organization that is a front group for ACORN.""
"He alleged that Obama's campaign had paid $832,000 to a group called Citizens Services, Inc., which Davis labeled "a front organization" for ACORN. He accused Obama's campaign of initially trying to hide its payments to the group by labeling the payment "events services" in their disclosure forms."
link
My thoughts on the election
I am not in favor of McCain but given the liberal Democrats are going to be in control of congress, McCain is a better choice than Obama. What I like about McCain he is drive to control waste and corruption. Obama is an attractive man, a great speaker and his election might do a lot to heal race relations. But Obama appears to have a lot of radical/socialist friends. The socialist agenda would hurt the most innovative and growth generating part of our economy, the small business.
What I think is most important for this country in the future is the need for cheap energy. Obama and the liberal Democrats think green energy is more important, despite the higher costs. A McCain administration is more likely to drill for more oil and produce nuclear power plants. Both would advance the cause of renewable sources like wind and solar.
National security is another important issue. McCain has more experience in the areas of national defense. Obama would probably put a more likable face to rest of the world.
The liberals' main goal for the Presidency is to appoint Supreme Court justices. Because they want to rule from the bench, not the ballot box. The conservatives want justices to follow the Constitution and to create new law through congress and the states.
The Congress is in control of spending and taxes, and thus the economy. The President is in control of foreign relations A McCain administration would be checked by a Democratic Congress. An Obama administration would have no such constraints.
History has a way of changing the plans of the President. Bush wasn't in favor of national building until 9/11. Clinton wasn't in favor of welfare reform until he had to be.
The biggest fear is that an untested Palin would assume the Presidency. But in fact, she has as much experience as Obama. Plus she has two years of actually governing a state.
What I think is most important for this country in the future is the need for cheap energy. Obama and the liberal Democrats think green energy is more important, despite the higher costs. A McCain administration is more likely to drill for more oil and produce nuclear power plants. Both would advance the cause of renewable sources like wind and solar.
National security is another important issue. McCain has more experience in the areas of national defense. Obama would probably put a more likable face to rest of the world.
The liberals' main goal for the Presidency is to appoint Supreme Court justices. Because they want to rule from the bench, not the ballot box. The conservatives want justices to follow the Constitution and to create new law through congress and the states.
The Congress is in control of spending and taxes, and thus the economy. The President is in control of foreign relations A McCain administration would be checked by a Democratic Congress. An Obama administration would have no such constraints.
History has a way of changing the plans of the President. Bush wasn't in favor of national building until 9/11. Clinton wasn't in favor of welfare reform until he had to be.
The biggest fear is that an untested Palin would assume the Presidency. But in fact, she has as much experience as Obama. Plus she has two years of actually governing a state.
Kansas City Chiefs Q&A (humor)
Q: What do you call 47 millionaires around a TV watching the Super
Bowl?
A: The Kansas City Chiefs.
Q: What do the Kansas City Chiefs and Billy Graham have in common?
A: They both can make 70,000 people stand up and yell "Jesus Christ."
Q: How do you keep a Kansas City Chief out of your yard?
A: Put up goal posts.
Q: Where do you go in Kansas City in case of a tornado?
A: To Arrowhead - they never get a touchdown there.
Q: What do you call a Kansas City Chief with a Super Bowl ring?
A: A thief!!
Q: Why was Herm Edwards upset when the Kansas City Chiefs play book
was stolen?
A: Because he hadn't finished coloring it.
Q: What's the difference between the Kansas City Chiefs and a dollar
bill?
A: You can still get 4 quarters out of a dollar bill.
Q: How many Kansas City Chiefs does it take to win a Super Bowl?
A: Nobody knows and we will never find out.
Q: What do the Kansas City Chief and possums have in common?
A: Both play dead at home (and get killed on the road).
Bowl?
A: The Kansas City Chiefs.
Q: What do the Kansas City Chiefs and Billy Graham have in common?
A: They both can make 70,000 people stand up and yell "Jesus Christ."
Q: How do you keep a Kansas City Chief out of your yard?
A: Put up goal posts.
Q: Where do you go in Kansas City in case of a tornado?
A: To Arrowhead - they never get a touchdown there.
Q: What do you call a Kansas City Chief with a Super Bowl ring?
A: A thief!!
Q: Why was Herm Edwards upset when the Kansas City Chiefs play book
was stolen?
A: Because he hadn't finished coloring it.
Q: What's the difference between the Kansas City Chiefs and a dollar
bill?
A: You can still get 4 quarters out of a dollar bill.
Q: How many Kansas City Chiefs does it take to win a Super Bowl?
A: Nobody knows and we will never find out.
Q: What do the Kansas City Chief and possums have in common?
A: Both play dead at home (and get killed on the road).
Current and former Obama Muslim outreach directors meet with radical Muslims.
"One meeting attendee was Mahdi Bray of the Muslim American Society, several of the participants said. The MAS website describes Bray as an imam and "long time civil and human rights activist." Bray's critics say he has a history of defending terrorists.hey point to a video of Bray at a rally in 2000, for example, in which he can be seen pumping his fist in the air in support of the terrorist groups Hamas and Hezbollah. In a 2004 interview, he called the Israeli assassination of a Hamas spiritual leader an "unlawful, cowardly and dangerous act of state-sponsored terrorism.""
"Also attending the meeting was Nihad Awad, executive director of the Council on American-Islamic Relations. CAIR is an unindicted co-conspirator in the Holy Land Foundation terrorism financing case."
NBC link
"Also attending the meeting was Nihad Awad, executive director of the Council on American-Islamic Relations. CAIR is an unindicted co-conspirator in the Holy Land Foundation terrorism financing case."
NBC link
Thursday, October 9, 2008
Rashid Khalidi, another friend of Obama
"Democratic presidential front runner Sen. Barack Obama served as a paid director on the board of a nonprofit organization that granted funding to a controversial Arab group that mourns the establishment of Israel as a "catastrophe." (Obama has also reportedly spoken at fundraisers for Palestinians living in what the United Nations terms refugee camps.)
The co-founder of the Arab group, Columbia University professor Rashid Khalidi, is a harsh critic of Israel who reportedly worked on behalf of the Palestine Liberation Organization when it was labeled a terror group by the State Department."
link
The co-founder of the Arab group, Columbia University professor Rashid Khalidi, is a harsh critic of Israel who reportedly worked on behalf of the Palestine Liberation Organization when it was labeled a terror group by the State Department."
link
Are we near a market bottom?
I see a few problems, including the short sellers and the lack of liquidity. People can not borrow money to buy stocks. If you do not have to sell for a year, it may recover most by then; but while banks all over the world are not loaning, do not expect a quick recovery. The lack of liquidity will also affect the economy as a whole. The automakers will not be selling as many cars until people can get loans. This of course will affect the income streams of the companies, and thus the value of the companies. As people lose income this will slow down the economy. That puts more pressure on the housing market as people can no longer afford their homes.
If Obama wins, capital gains taxes will increase, thus there is less reason to buy stocks, thus decreasing the value of holding stocks. The oil exporting countries are reducing output to support oil prices, delaying economic recovery. The biggest question is which companies will survive. The lack of liquidity could strangle an otherwise healthy company. Without knowing which companies will survive, it would foolish to invest in companies.
As I ponder this, I am for the first time really worried about this. I see the market bottoming out but not recovering. It is possible we may enter another great depression. People, afraid of losing their jobs, may ask for trade protection. Already we have socialized many of the banks and insurance companies. The best thing we have going for us is the FDIC insurance, so we don't lose all our money and have runs on the bank. But with a Democratic congress and a Democratic president, I fear proposals that will not be helpful to recovering the economy.
If Obama wins, capital gains taxes will increase, thus there is less reason to buy stocks, thus decreasing the value of holding stocks. The oil exporting countries are reducing output to support oil prices, delaying economic recovery. The biggest question is which companies will survive. The lack of liquidity could strangle an otherwise healthy company. Without knowing which companies will survive, it would foolish to invest in companies.
As I ponder this, I am for the first time really worried about this. I see the market bottoming out but not recovering. It is possible we may enter another great depression. People, afraid of losing their jobs, may ask for trade protection. Already we have socialized many of the banks and insurance companies. The best thing we have going for us is the FDIC insurance, so we don't lose all our money and have runs on the bank. But with a Democratic congress and a Democratic president, I fear proposals that will not be helpful to recovering the economy.
A little perspective as you watch all your wealth disappear.
On Oct 9, 2002 7285 the Dow reach a recent low, 37.8% down from the Jan 14, 2000 high of 11,723. On August 12, 1982 the Dow was 776.
Obama and Ayers?
Why can they not answer the question, when did Obama know Ayers was a terrorist? And why did he continue the relationship after that?
Clinton appointed Judge orders Guantanamo detainees released into the U.S.
Poll Results - Biden Palin Debate
Who won the debate? 55% Biden 33% Palin 11% Tie (5-3-1)
Was it a good debate? 55% Yes 22% No 22% Average (5-2-2)
Did you notice any bias from Ifill (the moderator)? 88% No 11% Yes (8-1)
Was it a good debate? 55% Yes 22% No 22% Average (5-2-2)
Did you notice any bias from Ifill (the moderator)? 88% No 11% Yes (8-1)
Sarah Palin remained in the dark
link
"Alaska Gov. Sarah Palin remained in the dark while her husband repeatedly asked top state officials to help get his former brother-in-law kicked off the state police force, Palin's husband and top aides said in affidavits provided to The Associated Press."
" the firing was not a tit-for-tat, but they also portray her as uninvolved while her husband met repeatedly with her aides about family affairs."
"He told them emotional stories about Wooten threatening and emotionally abusing his family. He said he talked to anyone who would listen. He gave them photos and documents, which they forwarded to others in the administration, and he questioned how Wooten kept his job.
Even Gov. Palin's special assistant, Ivy Frye, said she was distraught when she was told about the situation.
"I've felt empathy for the Palin and Heath families in having to endure harassment, intimidation, threats and abuse from a former family member," Frye wrote.
But Frye said she never talked about it with the governor or mentioned the idea of asking Public Safety Commissioner Walter Monegan to fire Wooten."
"Alaska Gov. Sarah Palin remained in the dark while her husband repeatedly asked top state officials to help get his former brother-in-law kicked off the state police force, Palin's husband and top aides said in affidavits provided to The Associated Press."
" the firing was not a tit-for-tat, but they also portray her as uninvolved while her husband met repeatedly with her aides about family affairs."
"He told them emotional stories about Wooten threatening and emotionally abusing his family. He said he talked to anyone who would listen. He gave them photos and documents, which they forwarded to others in the administration, and he questioned how Wooten kept his job.
Even Gov. Palin's special assistant, Ivy Frye, said she was distraught when she was told about the situation.
"I've felt empathy for the Palin and Heath families in having to endure harassment, intimidation, threats and abuse from a former family member," Frye wrote.
But Frye said she never talked about it with the governor or mentioned the idea of asking Public Safety Commissioner Walter Monegan to fire Wooten."
Wednesday, October 8, 2008
Media Bias - NBC
The skit on Saturday Night Live with Barney Frank on the bailout bill has been edited on the online version.
Must-Not See TV
"The brutally wicked sketch must have caused tremors in left-wing circles. The Sandlers and Mr. Soros have all been prime financial backers of independent political groups that have secured huge influence in the Democratic Party and helped fuel the rise of Barack Obama."
Edited SNL subprime video also happens to excise Barney Frank's involvement
"What also was excised was any mention of the involvement of Massachusetts' Rep. Frank in the Sandler subprime mess."
"In the original skit Sandler addresses Frank, saying, "And thank you, Congressman Frank, as well as many Republicans for helping block Congressional oversight of our corrupt activities."
To which Frank replies enthusiastically, "Not at all!""
NBC Edits 'Saturday Night Live' Sketch
Must-Not See TV
"The brutally wicked sketch must have caused tremors in left-wing circles. The Sandlers and Mr. Soros have all been prime financial backers of independent political groups that have secured huge influence in the Democratic Party and helped fuel the rise of Barack Obama."
Edited SNL subprime video also happens to excise Barney Frank's involvement
"What also was excised was any mention of the involvement of Massachusetts' Rep. Frank in the Sandler subprime mess."
"In the original skit Sandler addresses Frank, saying, "And thank you, Congressman Frank, as well as many Republicans for helping block Congressional oversight of our corrupt activities."
To which Frank replies enthusiastically, "Not at all!""
NBC Edits 'Saturday Night Live' Sketch
US government now owns 79.9% of AIG
Fed announces new 37.8-bln-dlr cash infusion for AIG
"The New York Fed will borrow up to 37.8 billion dollars in investment-grade, fixed-income securities from AIG in return for cash collateral," a statement from the Federal Reserve said."
"The New York Fed will borrow up to 37.8 billion dollars in investment-grade, fixed-income securities from AIG in return for cash collateral," a statement from the Federal Reserve said."
Tenn. lawmaker's son indicted in Palin hack
"The son of a Democratic Tennessee state lawmaker pleaded not guilty Wednesday to hacking the e-mail account of Republican vice presidential candidate Sarah Palin.
David Kernell, 20, of Knoxville, Tennessee entered the plea in federal court in Knoxville, the same day prosecutors unsealed an indictment charging him with intentionally accessing Palin's e-mail account without authorization."
link
David Kernell, 20, of Knoxville, Tennessee entered the plea in federal court in Knoxville, the same day prosecutors unsealed an indictment charging him with intentionally accessing Palin's e-mail account without authorization."
link
Ayers, Socialism and Schools
"Still more evidence of how the media are in the tank for Obama was evident in Tom Brokaw's description of Ayers on Sunday's "Meet The Press."
"School reformer" is how Brokaw identified the co-founder of the Weather Underground, the radical organization that, among other activities, bombed government buildings, banks, police departments and military bases in the early 1970s."
INVESTOR'S BUSINESS DAILY link
"At an education forum in Venezuela, Bill Ayers showed the real issue is not his terrorist past. It's the socialist revolutionary agenda that he and Barack Obama want to impose on the nation's schools."
"As Stern points out, "Ayers and his education school comrades are explicit about the need to indoctrinate public school children in the belief that America is a racist, militarist country and that the capitalist system is inherently unfair and oppressive.""
"School reformer" is how Brokaw identified the co-founder of the Weather Underground, the radical organization that, among other activities, bombed government buildings, banks, police departments and military bases in the early 1970s."
INVESTOR'S BUSINESS DAILY link
"At an education forum in Venezuela, Bill Ayers showed the real issue is not his terrorist past. It's the socialist revolutionary agenda that he and Barack Obama want to impose on the nation's schools."
"As Stern points out, "Ayers and his education school comrades are explicit about the need to indoctrinate public school children in the belief that America is a racist, militarist country and that the capitalist system is inherently unfair and oppressive.""
Health News - SIDS
A study "found that infants sleeping in a room where air was ventilated with a fan had a 72 percent lower risk of SIDS than babies who slept without fans."
link
link
More ACORN fraud allegations in Nevada
I suspect that ACORN is using massive fraudulent forms to overwhelm the system. With early registration, many fraudulent votes may get through without proper verification. It is possible that a few votes could determine the outcome of this election. We may see a prolong legal battle at the end of this election.
ACORN office in Vegas raided in voter-fraud probe
"Nevada authorities seized records Tuesday from a group they accused of submitting fraudulent voter-registration forms — including for the starting lineup of the Dallas Cowboys."
"Bertha Lewis, interim chief organizer for ACORN, said the group has been working with election officials to weed out fraudulent forms from those submitted by the canvassers it hires.
"Today's raid by the secretary of state's office is a stunt that serves no useful purpose other than to discredit our work registering Nevadans," Lewis said."
"According to its national Web site, the group has registered 1.3 million people nationwide for the Nov. 4 election. It has encountered complaints of fraud stemming from registration efforts in Wisconsin, North Carolina, New Mexico, Michigan, Ohio and Missouri."
ACORN office in Vegas raided in voter-fraud probe
"Nevada authorities seized records Tuesday from a group they accused of submitting fraudulent voter-registration forms — including for the starting lineup of the Dallas Cowboys."
"Bertha Lewis, interim chief organizer for ACORN, said the group has been working with election officials to weed out fraudulent forms from those submitted by the canvassers it hires.
"Today's raid by the secretary of state's office is a stunt that serves no useful purpose other than to discredit our work registering Nevadans," Lewis said."
"According to its national Web site, the group has registered 1.3 million people nationwide for the Nov. 4 election. It has encountered complaints of fraud stemming from registration efforts in Wisconsin, North Carolina, New Mexico, Michigan, Ohio and Missouri."
Tuesday, October 7, 2008
Debate Impression
It's over. Welcome to an America run by the four of the most liberal members in national government: Obama, Biden, Pelosi and Reid.
McCain did not score an knock-out punch. It was a tie, depending on your views your candidate won. But Obama is in a lead now and remains so. The only hope for the Republicans is that 3% of the people who say they are leaning Obama will actually vote for McCain, i.e. the Bradley effect.
McCain did not score an knock-out punch. It was a tie, depending on your views your candidate won. But Obama is in a lead now and remains so. The only hope for the Republicans is that 3% of the people who say they are leaning Obama will actually vote for McCain, i.e. the Bradley effect.
AIG $440K conference on the taxpayers?
AIG spent US$440,000 on spa, resort after bailout, lawmakers say
"American International Group Inc. spent US$440,000 on a conference at a California resort less than a week after an US$85-billion government takeover, lawmakers said."
"The bill from the St. Regis resort in Monarch Beach included US$23,380 for spa services"
"American International Group Inc. spent US$440,000 on a conference at a California resort less than a week after an US$85-billion government takeover, lawmakers said."
"The bill from the St. Regis resort in Monarch Beach included US$23,380 for spa services"
Obama Youth Brigade March in Formation
For those looking for the Obama Youth Video that has been on TV. There are versions of this video that associates it with the Hitler Youth.
Monday, October 6, 2008
Obama camp responds with the Keating 5
However McCain was cleared of any improper action.
"The Senate Ethics Committee ruled that the involvement of Glenn in the scheme was minimal, and the charges against him were dropped.He was only criticized by the Committee for "poor judgment."The Ethics Committee ruled that the involvement of McCain in the scheme was also minimal, and he too was cleared of all charges against him. McCain was criticized by the Committee for exercising "poor judgment" when he met with the federal regulators on Keating's behalf. The report also said that McCain's "actions were not improper nor attended with gross negligence and did not reach the level of requiring institutional action against him....Senator McCain has violated no law of the United States or specific Rule of the United States Senate."
"The Senate Ethics Committee ruled that Riegle and DeConcini had acted improperly by interfering with the investigation by the FHLBB"
"The Senate Ethics Committee ruled that Cranston had acted improperly by interfering with the investigation by the FHLBB"
link
"The Senate Ethics Committee ruled that the involvement of Glenn in the scheme was minimal, and the charges against him were dropped.He was only criticized by the Committee for "poor judgment."The Ethics Committee ruled that the involvement of McCain in the scheme was also minimal, and he too was cleared of all charges against him. McCain was criticized by the Committee for exercising "poor judgment" when he met with the federal regulators on Keating's behalf. The report also said that McCain's "actions were not improper nor attended with gross negligence and did not reach the level of requiring institutional action against him....Senator McCain has violated no law of the United States or specific Rule of the United States Senate."
"The Senate Ethics Committee ruled that Riegle and DeConcini had acted improperly by interfering with the investigation by the FHLBB"
"The Senate Ethics Committee ruled that Cranston had acted improperly by interfering with the investigation by the FHLBB"
link
McCain Fights Back
His new stump speech is attacking Obama for aiding and abetting the crisis at Fannie Mae and Freddie Mac. Pointed out that Obama will not tell how much is increased spending will be ($850 billion estimate). Attacked Obama for earmark spending, including a $3 million for a projector for a planetarium, of which the chairman pledge to raise $200,000 for Obama's campaign. He chided Obama for not releasing his donor list, over $200 million. Already Obama has returned illegal donations for foreign sources, like Palestinians.
"Obama campaign officials said a trio of Palestinian brothers in the Middle East attempted last year to make $33,000 in illegal donations to the campaign via the internet." link
"Obama campaign officials said a trio of Palestinian brothers in the Middle East attempted last year to make $33,000 in illegal donations to the campaign via the internet." link
DON'T PANIC
A couple of things to remember, the hedge funds are having to sell assets, putting downward pressure on the markets. Europe and Asian markets have also fallen. But so has the priced of oil, if Donald Trump is right, it might fall to $20 a barrel. Lower oil prices will put more money in the people's pockets. The dollar is at a year high versus the dollar. If you have cash, you are relative richer. If you have stocks, you are relatively poorer.
The banks are still hesitant to lend, so it will take a while for the economy to recover. If you don't think the economy will recover, I suggest you buy gold, guns and bullets. For myself, I believe the economy will recover in a few years. If you have a five to ten year horizon, you should recover the value of most of your stocks. If you dollar cost average now, you will be buying stocks cheaply.
The banks are still hesitant to lend, so it will take a while for the economy to recover. If you don't think the economy will recover, I suggest you buy gold, guns and bullets. For myself, I believe the economy will recover in a few years. If you have a five to ten year horizon, you should recover the value of most of your stocks. If you dollar cost average now, you will be buying stocks cheaply.
Do not be surprised by a stock sell-off.
As the likelihood of Obama being elected increases, do not be surprised by a sell-off in the stock market. Those with positive long positions in the market. who might want to sell in the the next 4-8 years, will be selling stocks. There are two reasons, the first is to offset loses. The second is to avoid an increase in the capital gain taxes. It would make sense for them to sell now and buy back after 30 days (wash sale rule). The savings of 5 or 10% in taxes might offset any possible rise the value of the stocks, especially in the current economic climate.
Should Obama be elected, there might be a further sell-off. Those waiting to move losses to the next year might wait to 2009, hoping the the capital gain tax increases will not be made retroactive.
Should Obama be elected, there might be a further sell-off. Those waiting to move losses to the next year might wait to 2009, hoping the the capital gain tax increases will not be made retroactive.
Sunday, October 5, 2008
A look into the future. Part Two.
Predicting the future is a dangerous game. If 9/11 had not happened, Bush's presidency would have been a lot different. Without Katrina, his popularity and thus his governing power, might have been much increased.
If McCain is elected he will face a democratic controlled House and Senate. He might have enough votes in the Senate to sustain a veto.
Energy
I would suspect a compromise bill would be passed, with lots of subsidies from wind and solar energy projects. I expect oil drilling on the coasts to begin in 18 to 35 months. Building would begin on the Alaska natural gas pipeline through Canada . 40 nuclear power plants would begin building in 24-36 months.
Jobs
(1) Increase jobs in all energy fronts.
(2) Increase jobs for those running the plants. Nuclear engineers, etc.
Health Care
In the first 100 days, the insurance tax credit would pass. The self-insured would have more money in their pockets. Those uninsured could afford a basic insurance policy. Most of those insured would not see any increase in taxes. More insured would put a temporary strain on the health care system, but would also provide an incentive for more people to enter the field and for foreign medical personal to come to the U.S.
Military
Would basically maintain the present course of action. Troops would gradually be pulled from Iraq if it remains relatively stable.
Spending
Earmarks would have to go the appropriation process, possible eliminating 50% of them.
If McCain is elected he will face a democratic controlled House and Senate. He might have enough votes in the Senate to sustain a veto.
Energy
I would suspect a compromise bill would be passed, with lots of subsidies from wind and solar energy projects. I expect oil drilling on the coasts to begin in 18 to 35 months. Building would begin on the Alaska natural gas pipeline through Canada . 40 nuclear power plants would begin building in 24-36 months.
Jobs
(1) Increase jobs in all energy fronts.
(2) Increase jobs for those running the plants. Nuclear engineers, etc.
Health Care
In the first 100 days, the insurance tax credit would pass. The self-insured would have more money in their pockets. Those uninsured could afford a basic insurance policy. Most of those insured would not see any increase in taxes. More insured would put a temporary strain on the health care system, but would also provide an incentive for more people to enter the field and for foreign medical personal to come to the U.S.
Military
Would basically maintain the present course of action. Troops would gradually be pulled from Iraq if it remains relatively stable.
Spending
Earmarks would have to go the appropriation process, possible eliminating 50% of them.
A look at the future. Part One.
Looking at the current polls, the Democrats money advantage and the support of the mainstream media, it is likely that Obama will win this election. It is also possible the Democrats will have a filibuster proof majority in the Senate along with control of the House. So what will happen over the next few years.
Energy
(1) There will be no new oil drilling in Alaska or off-the coasts.
(2) There will be no new nuclear power plants built.
(3) There will be no new coal plants built.
Oil companies, hit buy rising taxes, will produce less domestically, thus increasing dependence on foreign oil. This will stunt the economy as everything the economy begins to grow the price of to oil will increase.
Travel
To prevent global warming and to reduce oil imports, the government will re-instate the 55 MPH speed limit.
They will implement a $1 per gallon increase in gasoline taxes. They money will go to support public transportation and to reduce usage.
Health Care
There will be a battle between full socialized medicine and Obama health care plan. Health care costs increase as more people enter the system and demand better care than they currently are getting. A few years after implementation, health care rationing begins. Doctor shortages begin has less American enter the medical care system and less foreign doctors want to come to the U.S..
Military.
Possible scenarios
(1) Obama goes with his original promises and pulls all the troops out within a couple of months. Kurds declared Independence. Sunni and Shite factions fight for control of territory. Possible outcomes: (1) Iraq split into 3 section as proposed by Joe Biden (2) Iraq turns into a Lebanon with some power sharing and fighting breaking out every so often (3) Iraq turns to theocracy, akin Taliban or Iran. (4) Iraq turns into a strong central government, akin Saddam Hussein, (5) Baghdad turns into a strong governable city, while outlying regions turn into chaos, akin Afghanistan.
(2) Obama retains the current policy.
(3) Obama tries to prove he can get Osama Bin Laden and orders massive invasion into the Afghanistan. Possible scenarios (1) They destroy the Taliban and Al Qaeda (2) They face massive resistant, akin Soviet Union, and we get bogged down in a Vietnam style war. (3) They attack Pakistan in a way that upsets the populace beyond what the government can control. This builds massive support for Al Qaeda type groups and Pakistan withdraws what little support it is now giving.
Jobs
Jobs will increase in areas of alternative energy production, wind and solar and utility lines to move the energy to the cities. Public sector jobs and construction jobs increase where the government pays for it, i.e. roads and bridges, as the government will try to stimulate the economy. Oil jobs will decrease as the companies downsize because of the punitive taxes. Small business jobs will decrease because people are less likely to risk capital with more risk and less gains. Depending on the success of the bank bailout, capital will either be tight or non-existent. The low-interest loans that fueled the housing bubble and dot.com bubbles will dry up.
Interest Rates
It is possible that government will face higher costs on the debt. This will decrease the amount the government can spend on other things.
Housing
The democrats will try to get the banks to reduce the value of the loans to the poor - either through interest rate reductions or principal owed. This will reduce the amount the banks will be able to loan to other people.
Energy
(1) There will be no new oil drilling in Alaska or off-the coasts.
(2) There will be no new nuclear power plants built.
(3) There will be no new coal plants built.
Oil companies, hit buy rising taxes, will produce less domestically, thus increasing dependence on foreign oil. This will stunt the economy as everything the economy begins to grow the price of to oil will increase.
Travel
To prevent global warming and to reduce oil imports, the government will re-instate the 55 MPH speed limit.
They will implement a $1 per gallon increase in gasoline taxes. They money will go to support public transportation and to reduce usage.
Health Care
There will be a battle between full socialized medicine and Obama health care plan. Health care costs increase as more people enter the system and demand better care than they currently are getting. A few years after implementation, health care rationing begins. Doctor shortages begin has less American enter the medical care system and less foreign doctors want to come to the U.S..
Military.
Possible scenarios
(1) Obama goes with his original promises and pulls all the troops out within a couple of months. Kurds declared Independence. Sunni and Shite factions fight for control of territory. Possible outcomes: (1) Iraq split into 3 section as proposed by Joe Biden (2) Iraq turns into a Lebanon with some power sharing and fighting breaking out every so often (3) Iraq turns to theocracy, akin Taliban or Iran. (4) Iraq turns into a strong central government, akin Saddam Hussein, (5) Baghdad turns into a strong governable city, while outlying regions turn into chaos, akin Afghanistan.
(2) Obama retains the current policy.
(3) Obama tries to prove he can get Osama Bin Laden and orders massive invasion into the Afghanistan. Possible scenarios (1) They destroy the Taliban and Al Qaeda (2) They face massive resistant, akin Soviet Union, and we get bogged down in a Vietnam style war. (3) They attack Pakistan in a way that upsets the populace beyond what the government can control. This builds massive support for Al Qaeda type groups and Pakistan withdraws what little support it is now giving.
Jobs
Jobs will increase in areas of alternative energy production, wind and solar and utility lines to move the energy to the cities. Public sector jobs and construction jobs increase where the government pays for it, i.e. roads and bridges, as the government will try to stimulate the economy. Oil jobs will decrease as the companies downsize because of the punitive taxes. Small business jobs will decrease because people are less likely to risk capital with more risk and less gains. Depending on the success of the bank bailout, capital will either be tight or non-existent. The low-interest loans that fueled the housing bubble and dot.com bubbles will dry up.
Interest Rates
It is possible that government will face higher costs on the debt. This will decrease the amount the government can spend on other things.
Housing
The democrats will try to get the banks to reduce the value of the loans to the poor - either through interest rate reductions or principal owed. This will reduce the amount the banks will be able to loan to other people.
Saturday Night Live
f you missed it last night, it had some real funny moments. The opening was extremely funny. Of course they continue to play Palin as a dummy, but they also did a good job on Biden and even Ifill.
What surprised me was the skit on Pelosi,Barney Frank and the banking crisis. A good skit.
Weekend update was weak until the end..
What surprised me was the skit on Pelosi,Barney Frank and the banking crisis. A good skit.
Weekend update was weak until the end..
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