Obama’s White House staff will announce today new measures on overseeing the market and give the Federal Reserve more powers in governing finance.
Archive for the ‘Economy’ Category
White House drafts new oversight
Wednesday, June 17th, 2009Federal Court to Hear Chrysler Appeal
Wednesday, June 3rd, 2009The Second U.S. Court of Appeals in New York will listen to a group from Indiana who had invested their pension funds into Chrysler stock. Its those greedy people that the President claimed where holding up the sale a few weeks ago. He was fine when saying it then, because he believed they were bank investors, and not everyday real people who had worked their whole lives and had invested in an American company as part of their retirement plans. Teachers, Firefighters and Police groups=real people, real money, real lives….notice that the President is not speaking out on this matter anymore?
Quote from the Wall Street Journal:
The Indiana pension funds — the Indiana State Teachers Retirement Fund, the Indiana State Pension Trust and the Indiana Major Moves Construction Fund — have argued the sale of Chrysler is unconstitutional, saying the plan upends the rights of senior lenders to be paid off before junior creditors.
and….
The Indiana funds also contend that the U.S. Treasury Department doesn’t have the authority to lend bankruptcy financing under the Troubled Asset Relief Program because Chrysler isn’t a financial company
Obama pushes to Kick Auto Industry while they are down
Tuesday, May 19th, 2009As if the auto industry doesn’t have enough on their plate right now, the federal government is pushing for an average 35 mpg standard to be in place by 2016, a full four years sooner than was mandated under President Bush. Obama will say that this is what Americans want, and that’s why car sales are so far down.
Its the same ol’ same from him, take advantage of any crisis/opportunity to push his far left agenda. This all goes back to the housing crisis created by lending forced upon the banks by Clinton, ignored by Bush and perpetuated by Barney Frank, Chris Dodd and Obama himself. The top three recipients of campaign donations by Freddie and Fannie.
When people are forced to decide between a new car and keeping a roof over their heads, their money will be spent on the homes. Americans don’t want to be forced to drive tiny cute/ugly Euro style vehicles. They want their trucks, crossovers and suv’s. They want you to drill now while you look for new technology. Not force unproven wasteful tech on us while gas prices soar because they refuse to drill and use coal and natural gas.
http://online.wsj.com/article/SB124266939482331283.html
They want to raise your taxes on fuel to keep the price around $4 dollars a gallon, and force you to drive these tiny, wasteful, unsafe vehicles. Wasteful because you have to produce electricity somewhere to plug the lil’ things in at night, environmentally unfriendly because of the batteries they use up at increased rate, where do they plan on disposing these things?
The Anti-Green Day Handbook
Wednesday, April 22nd, 2009
Green Hell dispels many of the green movement’s myths that have been spread the last few years. Listed on the NY Times Best Seller List, the book attacks these myths with facts.
Case in point, those wonderful little CFL light bulbs that we all must switch to, as federally mandated. Not only do they cost you more at the store, and then to deal with when they burn out, because you simply cannot throw them in the trash because they contain MERCURY. This doesn’t even cover the headache that will take place if you break one in your home:
“Consider the case of Brandy Bridgesof Ellsworth, Maine, who had the misfortune of dropping a CFL. — Bridges called her local Home Depot for advice. The store told her — she should call the poison control hotline which in turn directed her to the Maine Department of Environmental protection. The DEP sent a specialist to Bridges’s house to test for mercury contamination. The specialist found mercury levels — in excess of six times the state’s ’safe’ level for mercury contamination [and] recommended that Bridges call an environmental cleanup firm, which gave her a ‘low-ball’ estimate of $2,000 to clean up the room. The room was sealed off with plastic and Bridges began ‘gathering finances’ to pay for the costly cleaning.”
In related news, the House has started to discuss and debate issues related to the environment and “climate change“.
Friday Thoughts: Beer Tax and more….
Friday, April 17th, 2009Why is there a general lack of confidence these days when the words Barney Frank and financials are used in the same sentence? Summed up in only three words; Fannie and Freddie! He is at it again… doubling down
The fuel tax credit farce where companies get a tax credit for blending alternative fuels. Have to admit that some of the companies were pretty imaginative in their thinking, but still at the people’s expense. Time to close this loophole.
First President Obama fires the head of General Motors, now he wants the company to get rid of the GMC brand, probably because they make the trucks that the people are actually buying and the company is turning a profit on! In addition if Chrystler sells out to Fiat, the government will be in charge of picking out its new leader, with the help of Fiat.
JP Morgan is trying to get out of the government’s control by repaying the borrowed TARP funds.
And finally before heading off to go fishing for the weekend….the Beer Tax. Not here in Michigan, but in the Pacific coast state of Oregon, but you Jen…she never met a tax she couldn’t make her own. In some really screwed up thinking by this liberal state government, they want to raise a tax in one of the only sectors of their economy that is growing, the micro breweries. They have more in Oregon than any other state. Now this would effect all beer sales, but would hit the micro’s harder than any other sector in the beer biz. The new proposed tax on kegs would increase by 1,900%, in other words for every keg sold there would be a $52 dollar tax added to the bill!!!!!!!!!!!! That’s an estimated 315 million more in cost for beer drinkers in 2009 compared to the year before. Look for a beer party uprising in the state soon.
AFL-CIO Abandons US Workers
Wednesday, April 15th, 2009In an effort to bolster coffers due to lagging union membership/dues, the AFL-CIO and Change to Win (a splinter group of the union) have adopted measures in support of illegal immigration.
http://www.aflcio.org/issues/civilrights/immigration/upload/immigrationreform041409.pdf
While the numbers of Americans by a vast majority (a true mandate) do not favor amnesty for illegals here in the states, the union joins with the White House in supporting the measure. This coincides with statements made recently by Rham Emmanuel, the Obama White House Chief of Staff. The far left welcomes illegals in hopes of bolstering their voting numbers and will, as they have stated, redraw the district lines to fully take advantage of their new voting base.
The move could possibly further splinter union membership. While thousands of union workers are struggling to find jobs, the union proposes an increased membership making it harder for legal and native Americans to find jobs in a shrinking job environment.
This could be just as polarizing as it was about a year ago when John McCain crossed over and joined with some dems on immigration reform. It was a lesson well learned for members of congress, right and left. You take the wrong side, and you lose the next election. Stabbenow, Levins and the rest should heed this lesson, or side with it, and lose the next time out.
Tax Day Tea Party in Monroe,and Around the Country
Friday, April 10th, 2009The small tea parties that started a few months ago have grown by leaps and bounds and will reach record numbers on April 15th. A lot of this has been ignored in the media, although some have been diligent in their reporting on the grass roots demonstration over government spending and new tax proposals.
This isn’t a democratic vs republican thing, its people tired of paying their fair share, and their brother’s too. Its about busting your hump to provide a living for your family, while congress fails to read bills before they are sent to be a law, that takes more money out of your pocket. It might not be in the form of an income tax, it could be a tobacco tax, beer tax, gas tax, cap and trade tax or simply a tea tax. Tax is tax, you cannot sugar coat it, it takes money out of your pocket, then goes through the government, where they put it in somebody else’s pocket.
Where to go in Michigan, there isn’t just one to go to either and there will be one right here in Monroe at St. Mary’s Park.
http://taxdayteaparty.com/teaparty/michigan/
City: Monroe
When: April 15, 5:00pm – 6:00pm
Where: St. Marys Park, corner of Elm and Monroe Streets
Contact: strowbridge@trowbridgefinancial.com
Here are some comments from around the country taken from a few sites I found. This is a real underground/grass roots movement. There were literally too many sites to post all the links. The left in the media just do not want you to know about it……….. You won’t see a million at a single party (more than likely), but you will see millions from across the country gettting together to have their voices heard.
http://michellemalkin.com/2009/04/10/why-i-tea-party-like-its-2099/
http://michellemalkin.com/2009/04/06/get-ready-for-the-anti-tea-party-sabotage-and-smear-campaign/
http://michigantaxes.com/wordpress/?p=1774
http://foxforum.blogs.foxnews.com/2009/04/03/roff_tea_parties/
http://www.orlandosentinel.com/news/local/orl-locteaparty21032209mar22,0,426670.story
Obama’s Spin Speech While Market Plunges
Monday, March 30th, 2009As the President spins his auto bailout speech today and the market reacts, here are some quick comments as he talks out of the other side of his mouth.
The President says that communities support business, and that is the democrats greatest failure, they fail to realize that the businesses are the ones that support the communities. Are they really so short sided not to realize this, if they cut the companies off at the knees, there aren’t any taxes to go to the schools, and local municipalities.
He spins the firing of Rick Wagoner, and yes it was a government controlled action, regardless that the stepped down. He says the government does not want to run these companies, but they have no problem firing folks.
He says, “Let me be clear”. Well let me be clear, he will drive these companies into the ground, because they fail to understand what caused the auto crisis. Or they will not look hard at the cause, be they are to blame for the root of the problem.
What is the cause, the housing problem, who covered up the problem, Frank, Dodd and Obama. The three people who received the most money from Freddie and Fannie. Its not that people do not want to buy big vehicles, we like big vehicles in this nation. BUT, when the choice is between a new truck or car and house payments, its a no brainer. This has little to do with warranties, although it plays a part, it is simply a choice between the house and a new car.
This an attempt to push the GREEN agenda. The new jobs and new manufacturing jobs that he talks about, just will not happen because of the present tax structure here in Michigan, and the proposed taxes the President is making.
They do not want you to drive vehicles with internal combustion engines. We are set to hold a GREEN conference here, at the President and White Houses urging. This is a push towards untested technology, and not needed on the scale he wants.
Oil prices are low, partly due to demand and partly due to the talk of exploration in the last administration. If we drill offshore, in Alaska and take advantage of the greatest coal reserve in the world, the prices will remain low.
Obama lets the unions skate on their responsibilities in these concession talks, and made Rick Wagoner the scapegoat behind the failed talks. If Wagoner had to go to get the wheels turning, then the head of the UAW needs to go as well.
The Obama Power Grab Begins: Wagoner out at GM
Sunday, March 29th, 2009So this is how it starts, the White House dictating who will run companies that receive bailouts.
Geithner will be the fall guy/Fannie & Freddie
Thursday, March 19th, 2009The man never should have been confirmed due to his own tax problems. He was part of the Wall Street problem that Obama promised he would change. Now he is the poster boy for the president’s failed economic policies.
While AIG take center stage, and grabs all the headlines. While those in congress responsible for the bonuses to be allowed, HELLO SENATOR DODD, duck and cover and create smokescreens. Geithner will be hung out to dry for the administration’s failed attempts to dig the country out of the crisis they helped create.
By the way, while Rep. Barney Frank froths at the mouth during the house witch hunt of AIG, why is it no one is mentioning the bonuses that Fannie and Freddie are getting right now? Its easy to know why Barney isn’t saying boo about it, they have their hands in his back pocket due to all the campaign funds they funneled towards him.