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Posts Tagged ‘economy’

The President’s agenda for today

March 25, 2011 Leave a comment

Transparency and openness:

No public statements on Libya. We’ll presume the senior advisor meeting at 10:30 deals with that.

No public statements on the uprising in Syria. Nothing on hundreds gathering in Amman to protest the Jordanian government. Nothing on President Saleh stepping down in Yemen, a potential loss of a key ally in the war against al-Qaeda. Nothing about new shelling from the Gaza Strip into Israel. Nothing on the continuing worries about radiation in Japan.

No public statements on jobs or the economy. No statements on the deficit, or the $14.2 trillion in public debt, or the budget crises in most states, or the latest problems in Afghanistan (a NATO helicopter gunship accidentally mistook children for insurgents and killed nine of them).

Over two years into this administration, and suffice it to say that the hypocrisy from these people is glaring.  I don’t hear a peep from the left and the administration’s complicit lapdogs in the media about the need to be “open”, about not having press conferences, about not being transparent, about being aloof to the crises of our day.   All of the same issues they had with the previous President.    And it’s especially damning now, with the President having deployed our armed forces to war in Libya.

Holiday greetings from the Federal Reserve

November 24, 2010 Leave a comment

That is to say, if by “holiday greetings” you mean some rancid turkey and a serious case of heartburn:

Unemployment is set to remain higher for longer than previously thought, according to new projections from the Federal Reserve that would mean more than 10 million Americans remain jobless through the 2012 elections – even as a separate report shows corporate profits reaching their highest levels ever.

Top Federal Reserve officials project that the unemployment rate, now 9.6 percent, will fall only to about 9 percent at the end of 2011 and about 8 percent when the next presidential election arrives, in late 2012. The central bankers had envisioned a more rapid decline in joblessness in their previous forecasts, prepared in June.

The sober economic forecast comes despite signs that the recovery is picking up slightly. The Commerce Department said Tuesday that gross domestic product rose at a 2.5 percent annual rate in the three months ending in September, not 2 percent as earlier estimated. And there have been solid readings in recent weeks on job creation, manufacturing and retail.

But wait, there’s more:

It was these diminished expectations for growth that led Fed officials this month to announce plans to buy $600 billion in Treasury bonds in a bid to drive down long-term interest rates and pump up growth.

[…]

But most Fed officials expected the results of bond purchases “to help promote a somewhat stronger recovery in output and employment while also helping return inflation, over time, to levels consistent with the Committee’s mandate.” Some also thought the action would offer insurance against a further drop in inflation or against the “small probability” of persistent deflation.

But the [minutes of the last Federal Reserve meeting] also leaves little doubt that several Fed officials remain uneasy with the action. Some anticipated that they would have only a “limited” effect on the pace of recovery, arguing the action should only be taken if the odds of deflation “increased materially.”

And several “noted concern” that the action “could put unwanted downward pressure on the dollar’s value in foreign exchange markets” or “an undesirably large increase inflation.”

So not only are Fed officials implicitly acknowledging that nearly two years of Obamanomics are a complete failure, but that their fiscal policy, as encapsulated in Quantitative Easings I and II, are doing little, if  nothing to help it as well.

We’re in the best of hands, folks.

But you know who must really be feeling like an idiot this really hurts?  Jeff Sommer.

Pelosi: Liberal utopia almost here

April 18, 2010 Leave a comment

Good lord this woman is an idiot:

House Speaker Nancy Pelosi (Calif.) said the Democrats are one bill away from completing President Barack Obama’s “blueprint for American prosperity.”

“We have passed two of the three pillars in the historic healthcare and education reform and are working towards a clean energy and climate agenda in Congress,” Pelosi said in her remarks to the California Democratic Party state convention in Los Angeles on Saturday. “And essential to prosperity for middle-income Americans is reining in Wall Street.”

“The House has passed Wall Street reform, and working with our colleagues in the Senate, we will ensure that never again will those who are reckless on Wall Street make people jobless on Main Street,” she said.

The state of California deserves what it gets if they keep electing imbeciles to Congress. 

These people actually believe that what they’re doing to our economy is good for the country.  They actually think that Obamacare means affordable and quality care for all Americans.  They actually believe that higher taxes on producers benefits the middle class.  They actually believe that the government running the student loan program means lower rates and easy access for students.

God help us all.