Obama Wants More Free Trade Catastrophic Fixes

It is rather sad that things which are obvious as day and night can be studiously ignored while people chose to live in fantasy worlds that are built on fairy dust dreams.  The entire US is consumed by wishful thinking based on refusing to see obvious warning signs and obvious signs of collapse.  When house is collapsing, you run outside or you repair what is broken. You don’t go out and get a loan so you can vacation in some balmy warm spot that claims to be menaced by CO2 gasses.

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The irrationality of most Americans struck me very hard last night.  My town had a meeting to discuss the death of Berlin, NY.  Instead of focusing on what was killing our tiny town, the good people of Berlin decided to opt for foolish dreams that made absolutely no sense.  This insanity was worsened by the schizoid manner of thinking: the desire to lure ‘tourists’ into our little burg clashed hideously with the sneering hatred of any outsiders coming in and trying to mingle with the locals!

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Well, the entire US is like this: we support ‘free trade’ and ‘internationalism’ yet we are beset by hatred and anger towards ‘aliens’ especially angry Muslims who are bent on transferring our foreign wars to the US shores.  We were spoiled rotten by Vietnam: they studiously avoided attacking the US directly even as we bombed civilian populations in North Vietnam.  The Muslim religious fighters, on the other hand, are quite anxious to do a tit-for-tat cross border war with the mighty US empire.

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Before I discuss the insane State of the Union (sic) speech by Bomb Bomb Obama, we must look overseas to see what lies in our own future.  The world’s #2 economy, Japan, is now #3 and falling.  And Japan’s grinding depression is continuing to widen, not vanish.  The US is being sucked down the exact same hole as Japan due to government overspending…and Japan is a sovereign wealth country, not a debtor nation to foreign powers like the US!

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S&P lowers Japan credit rating outlook › Japan Today: Japan News and Discussion

In a surprise move, S&P affirmed the country’s “AA” long-term debt rating but revised its outlook to “negative” from “stable.”

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“The outlook change reflects our view that the Japanese government’s diminishing economic policy flexibility may lead to a downgrade unless measures can be taken to stem fiscal and deflationary pressures,” S&P said in a statement. .


Japan shoulders the biggest public debt burden among industrialized countries and S&P predicts the country’s debt will balloon to 115% of gross domestic product over the next several years.

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Toyota is in the news because they had to shut down ALL their factories to retool the brake pedal systems.  This is leading to Toyota’s first non-profitable year.  What is particularly funny is, the US goes for years with various things running in the red.  Japan has only one thing in the red: government spending. This spending was supposed to pull Japan out of its depression.

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It didn’t work.  The building of a million ‘bridges to nowhere’ were always easy to start, being by definition, ‘shovel ready’.  But it didn’t make Japan a better economic power.  Not even slightly.  Japan, which once had one of the smallest spreads between rich and poor (unlike Haiti where the spread is gigantic with the rich holding over 80% of the wealth) is now falling out of the top ranks of ‘economic equality’ thanks to this grinding depression.  The poor are getting poorer and quickly reaching Haitian levels of dire poverty.

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The US is on the same incline downwards to hell.  Our own banking crisis/depression is NOT OVER AT ALL.  Anyone who claims we are even slightly out of the woods just has to visit the Federal Reserve to see grim statistics that shows we are actually in worse shape now than even six months ago:

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ALFRED: ALFRED Graph

ALFRED: ALFRED Graph

If I used the 35 year graphs, it would be roughly the same: every year from 1974-September 2008 shows a steady, under $20 billion level of holdings and deposits with the Fed.  Then, when AIG, the Home Base of All Derivative Beast Contracts, went bankrupt: boom.  It shot up to almost $200 billion in the deposits General Treasury accounts while it zoomed to nearly infinity in papers shifted from Goldman Sachs and JP Morgan and all the international bankers, moving all their losses into the Federal Reserve so they wouldn’t have to capitalize them.  This rescue operation was $1.2 trillion.

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And is this dropping?  Nope.  It either climbs or stays the same each month.  I see no sign of return to ‘normal’ and I expect to never see this return to ‘normal’ in my lifetime: it is impossible.  This huge, stinking pile of loans to homeowners speculating on their own dwellings, buy in/hostile takeovers of existing businesses and retail outlet lending, etc: all of this is not resolved but merely shifted sideways so our banking gnomes can pretend they have capital upon which they can lend to others.

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ALFRED: ALFRED Graph

The TOTBORR borrowing of government money backed by US taxpayers being the guarantors of these immense loans is no longer nearly half a trillion, it has been cut down to $100 billion but it is not dropping down to normal which happens to be NEARLY ZERO.  Running it at $100 billion all the time is obviously the ‘new normal’.  We can see the 9/11 spike on the far left as a tiny blip.  Back then, it was a huge spike relative to ‘normal’.  Now, it is nearly invisible, dwarfed by the new status quo.

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All of this matters greatly!  If Japan flounders and falls, it will destroy the wealth of the Japanese people but not the American or European or Chinese people.  But other sovereign nations are going down in flames which will hammer others heavily due to selling debt to foreign powers:

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A Greek crisis may well become Germany’s problem | Bronwen Maddox: Economic View – Times Online

The new Greek Government’s plan remains incredible, based on a cut in the budget deficit from nearly 13 per cent to under 3 per cent in three years. That implies that Greece would, in one coherent sweep, push through profound reforms of the public and private sectors that it has not yet been able to tackle.

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It remains likely, then, that Greece is headed for a crisis that tests the stability of the eurozone. The burden of Europe’s most difficult decision this year would fall on Angela Merkel, the German Chancellor, who would have to decide whether to rescue Greece to forestall a crisis throughout the currency club. But her Finance Minister openly rejects her declaration of a “common responsibility” for other members, and a rescue would be a hard sell to German taxpayers.

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This is important: Obama’s mission is to convince everyone, we have to freeze spending money on Americans…while increasing money shipped to Israel or Afghanistan, etc.  This is the definition of a hard sell. I could tell last night, with the delusional debates in my own pathetic, dying town, that few are willing to face reality.  There is no money. Only more debt.  And more debt=death of the US economy.  Because we are selling all our war debts to China and Japan, our own citizens think that we can continue spending war money like there is no tomorrow and this war spending is the key to future wealth and prosperity, not total bankruptcy along the lines of the Soviet Union.

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Greece is already wracked by riots and they are cutting services by 13%?  I see serious problems with that considering that we are in a global depression.  What will the Greeks do, move to Germany?  One of the more amusing parts of Germany is the language.  You have to learn how speak it.  Sort of like Chinese: difficult to do and requires lots of hard work.  Nicht wahr (isn’t it true)?

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More job losses amid fears recession will blight Britain for years to come | Business | guardian.co.uk:  Britain is joined to the US by the hip and is the previous dying empire that tried to fix their decline by turning itself into a tourist museum and banking rip off scheme.  Peddling debt and Queen-watching, the pageantry  and glory of former imperial power played it up to tourists snapping pictures while banking pirates flooded world markets with Japanese carry trade loans.  These things are now leading to a total economic collapse in Britain!

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For tourism is NOT a ‘value added’ business.  Las Vegas is going bankrupt and it is 100% tourist business.  Many small US towns tried to get rich quick imitating Las Vegas even though this means destroying the social fabric and wrecking families.  But it was easy and quick and looked like fun…before all the crime, filth and moral corruption wrecks everything.  All the Indian tribes trying to use gambling to get rich are quickly learning that it is very destructive.  This is due to Lady Luck’s true nature as a very destructive force deep inside the Cave of Wealth and Death.

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Lady Luck creates things by destroying things.  She rolls the cosmic dice and if you get snake eyes, an asteroid slams into the planet and kills nearly everything, for example.  I fear Lady Luck, she is totally heartless and is mother to the goddess of Infinity and the goddess of Zero. Now, on to the clueless State of the Union speech:

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First State of the Union speech by President Obama: ‘We face a deficit of trust’ – washingtonpost.com

Obama laid out specific business initiatives in his speech, all linked by their connection to job-creation. Among his proposals: extending bonus depreciation, which allows companies to recover the costs of capital expenditures at an accelerated pace, amounting to what White House aides said was a 10 percent corporate tax reduction over the next two years.

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Over the last 30 years, we have had tax cut after tax cut.  Except for my property taxes.  And of course, this is insanity.  As we cut taxes, our overspending shoots upwards.  One leads directly to the other.  There is no mystery here that is difficult to figure out!  A child can see the connection and so can our corporate masters and our fake politicians who are owned by these stupid clowns.

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They don’t care!  If we run up vast debts thanks to cutting taxes, they will pack their bags and move to some better place and exploit this!  Too bad, one of the ‘better places’ happens to be Communist China which really, deep inside (trust me on this) hate the ruling elites of America and hope to execute them some day.  Gah.

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As expected, Obama proposed a three-year freeze on discretionary spending and promised to let tax cuts on wealthy individuals expire. And he said he will issue an executive order creating a deficit commission to confront the long-term fiscal challenge from Medicare and Social Security….

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HAHAHA.  Taxes on the upper classes will resume!  While being removed by corporations.  And this is the end result of corporations being ‘people’ thanks to our insane Supreme Court.  By the way, when the taxes shoot up on the upper 10%, you can bet, the GOP will resume their drum beat for a uniform tax so the tax burden can shift down to the lower classes.

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…The president urged action on energy legislation, linking success to the creation of new jobs. He called for construction of new nuclear power plants, new offshore oil drilling and passage of climate change legislation….

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This translates into much higher energy costs for the US and it also guarantees the last of our industries will shift out of the country. Period. End of US economic power. We cannot have our CO2 cake and burn it, too. The meeting last night in Berlin was most instructive. When I mentioned the dire need to restore our lost industries, the goofballs here were aghast.

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One guy said, ‘I don’t want to be like CHINA! I visited there last year and it was awful!’ I said, ‘Um, are you suggesting we sell our town to the Chinese tourists? After all, we would have to lure them here to spend money they make, manufacturing stuff!’ Yes, one has to think it through. It was painfully obvious that my town’s leaders think it is good, we lost our major industries!

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Did this make the air cleaner? Nope. Not even slightly! All the newly poor people who lost their jobs are burning really trashy wood they scavenge and this is polluting the town so badly, I dare not walk down there in the morning when thick smoke pours out of many small chimneys! *Cough*cough* The solution of losing our industries fixed absolutely nothing at all.

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On the other hand, Obama wants us to worry about ‘climate change’. Last time I looked outside, it is freezing cold here. I see ads and stories from the balmy south boasting about how much warmer and happier it is there. My trees fix the CO2 problem and I pay very high taxes to keep everyone on this planet breathing oxygen. So where is my money? Why am I being made poorer while saving the entire planet? Obama makes no mention about fixing my problem.

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Or anyone’s problems! Fixing the energy system is wonderful but it is NOT productive unless we sell energy to Canada (it is very much the reverse, by the way) or if this energy is used for producing stuff which we consume or export! It isn’t an end in itself.

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Obama reminds his own party to keep its head and the other party to stop losing its mind. – By Bruce Reed – Slate Magazine

Wisely, Obama chose instead to make his case with reason as well as passion. He made clear that jobs must be Washington’s top priority, but he leveled with people that government can do only so much because “the true engine of job creation in this country will always be America’s businesses.” He promised to make America more competitive for the jobs of the future by promoting energy innovation—because if we’re not first, we’re last. But he spoke another truth too seldom heard in Democratic circles: If we want to create jobs in this country, we need an aggressive strategy to expand exports and promote trade, not put up barriers or shy away from trade agreements. During that part of the speech, congressional Democrats sat on their hands, but America cannot afford to.

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This Bruce Reed guy is a total idiot.  It thoroughly enrages me to read crap like his junk.  He is published by Slate Magazine precisely because he is terminally insane.  If he were even slightly smart, like at the level of say, a sea slug, he would look at the graphs below and notice something is very wrong with everything he says:

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ALFRED: ALFRED Graph

Every year, year after year, this graph is only ten years but this is true of 40 years, every year, we run a trade deficit that is ALWAYS twice as big as our trade export numbers!!!!  Now, we are in a ‘recovery’ and guess what?

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The trade deficit is worsening yet again. The only improvements we see in deficits is due entirely and only to world recessions.  Not improvements in our own condition.  So, as usual, our exports did go up by about $25 billion last quarter….but our trade deficit went up by $50 billion!  Now, any child can see that this is a fool’s game for the US.  No matter how much we increase our exports, if we increase imports twice as fast, we go BANKRUPT.  Period.  End of story.  No more games.  We are doomed.

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The bias against tariffs in our ideological masters (many of whom work secretly for the CIA and other government agencies, pretending to be reporters and investigators) is nearly total in the major media.  This blanket that smothers all discussion of any solutions to this obvious problem covers all media, all the time.  The few people against this get fired.

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Davos 2010: Barclays’ Bob Diamond attacks Obama’s banking plans | Business | guardian.co.uk

Barclays’ president, Bob Diamond, warned today that Barack Obama’s plans to limit the size of banks would hit jobs, growth and global trade.

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Speaking on the opening day of the World Economic Forum in Davos, Diamond said the growth in “large, integrated, universal banks” had been a response to market forces in the post-communist world.

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“They [the big banks] fulfilled an important function in helping governments and corporates to transfer risk, particularly across borders,” Diamond added.

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Someone please arrest Diamond and lock him up.  Or hang him by the thumbs and then do other unspeakable things to this jerk?  Good lord.  HAHAHA.  So, banks TRANSFER RISK. Where does this pesky Risky female goddess go?  Well, she is handed over to the Derivatives Beast and they have sex together and spawn World Chaos and Collapse.  Wonderful.  In particular, this goddess, Risky, gets to CROSS BORDERS and thus, avoid being arrested!  HAHAHA.  Like the footloose Mr. Diamond.

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Banks increased their cut from 4% to over 20% in the US and UK and note that both nations are dying and going bankrupt.

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‘Tale of greed gone awry’: Owners unload $5.4B Stuyvesant Town, Peter Cooper Village complexes:  the biggest real estate goofy deal is dropped like a hot potato and of course, the international bankers that spread the risk across borders are going to demand this risk of default be transferred to the Federal Reserve which will then move it to the Treasury and then to the US taxpayers. Good gods.  Arrest everyone. Ship them to Berlin to act as townspeople when we turn out dying town into a carnival act.

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Arnold: Send California prisoners to Mexico | Raw Story

Governor Arnold Schwarzenegger suggested California could ease its crowded prison system by sending thousands of undocumented inmates to specially built jails in Mexico.

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Speaking to reporters at the Sacramento Press Club, Schwarzenegger said California could ease its strained finances by a billion dollars if 20,000 illegal immigrants currently held in the state were housed across the border.


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The ‘prison industry’ used to be a big favorite of the US.  Now, it is being viewed correctly as a drain on the public coffers and a danger to our nation.  Russia tried running itself as a prison nation and a military world power and went bankrupt.  Ditto, the US.  Great.  Imitating the Soviet Union (invade Afghanistan!) is a very, very bad idea.  Now for some more Gnome News:

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Rothstein pleads guilty – South Florida Business Journal:

Last month, Rothstein was charged with five counts of racketeering, fraud and money laundering. According to court records, he admitted that, between 2005 and November 2009, he operated a criminal enterprise through which he and others fraudulently obtained money from investors through bogus investments and other schemes.

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Rothstein, who co-founded Rothstein Rosenfeldt Adler in 2002, fled to Morroco in October, just before his Ponzi scheme exploded. He returned, however, to face charges….

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…In court, Rothstein admitted that he and others solicited investors to invest in purported civil case settlement funds, which, he told them, paid a high rate of return. In reality, the investment funds never existed and new investors’ money was used to repay money owed to earlier investors.


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The Jewish community has to deal with the idea that the corruption from sucking down vast sums of US taxpayer debts to fund Israel is corrupting all their souls in horrible ways.  Most of the big Ponzi schemes were run by Jews, often, targeting fellow Jews.  The moral dimensions of this corruption requires a response from the entire community before it is too late.  Just like the oil wealth corruption which is destroying the Arab Muslims or the gambling corruption eating away at the souls of the US Indians, etc: easy money and easy frauds are destructive. Easy credit leads to bankruptcy.  And ignoring red ink leads to economic destruction.

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Isn’t anyone capable of understanding this?  Or will I be labeled various odious names for pointing out the obvious?  We all know the answer to that!  HAHAHA.  Sheesh.

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27 Comments

Filed under .money matters, Free Trade, Politics, war and peace

27 responses to “Obama Wants More Free Trade Catastrophic Fixes

  1. charlottemom

    His desperation and panic is palpable. He is groveling and grasping with the public. Is it because his goose is cooked or that America’s is?

  2. Fetung

    Looks like 70% of US Senate are for the Big Banks.
    Bernanke Confirmed for second term by US Senate 70-30. Please spread this link and encourage voters to throw out these 70 corrupt votes from the Senate.
    http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00016
    Chance that HR 1207 would pass the Senate? HAHA

  3. Fetung

    Also consider seriously to support those who voted against Bernanke confirmation. They will be looked down by the Fed and establishment this November Election!

  4. lcs

    It wasn’t a brake pedal, it was the accelerator.

  5. justiceatsqualor

    @Fetung: “Also consider seriously to support those who voted against Bernanke confirmation. They will be looked down by the Fed and establishment this November Election!”

    No! Many voting “nay” may be just looking for cover.

    Toss the candidate who stinks most of bankers; WHEN IN DOUBT, TOSS THE INCUMBENT.

    Easy enough since most of our senators have physically grown to resemble the putrefaction of their souls.

  6. PLovering

    Nero was fiddling in Washington last night.

    Anybody smell smoke?

  7. emsnews

    It has been a full orchestra since Reagan took the podium and began conducting the ‘No new taxes’ symphony of the Devil.

  8. PLovering

    Lizard Concise guide to sabotage education

    http://tinyurl.com/3oozq5

  9. Dibbles

    I think fear of outsiders is fear of the unknown and a loss of trust that strangers are friends. It’s instinctual to feel threatened by strangers when good fortune is not presently with us. Change is scary.

    We are in a time of rapid historic change. The Mayans predicted the end of an era by their own calculations thousands of years ago. Death cultists of all sorts have interpreted this to mean the end of the world. Sky-faerie cultists worshipping the dark-side of our nature have promoted death and armageddon. Christianity expresses life after death. Ancient Pagan rituals celebrated rebirth of the sun and seasonal change after the long dark winter. Antiquity leaves us with Ouroboros and so much more. What is the common thread running throughout? Cycles of life, and cycles of the human condition, common to all of us, present and past.

    I think the US has a fixed idea that the (collapsing) British Empire’s destiny is ours only because it has been publicly so since the Maggy & Ronny show. But we are not conjoined twins. There is another ocean, much more vast, bordering the western edge of our continent. Across that ocean is where most of the new wealth and prosperity is being generated. That prosperity is, to a much lesser extent, our new mutual prosperity. But the rules have changed. We don’t make the rules so much anymore. We can’t keep changing them to avoid our debt.
    We never voted to become an empire. We must never willing or apathetically forfeit our sovereignty. This country belongs to us! The Constitution is OURS. No giant pot of pixy dust from Wall Street swindlers can change that without our willing consent and participation.

    Never give up. If you voted for this president, your one vote did not give him a magic wand. When our federal government becomes as dysfunctional as it has, we must never allow ourselves to become so despondent as to participate in our own dissolution. We must become a “nuisance” until our voice is heard. Only the individual can know what is in it’s best interest. Call your reps…constantly if you need to. Elaine, you set a good example.

    Your state’s autonomy is also important. (I’ve often thought states should have their own sovereign wealth funds, not to mention their own state banks.) Be constructive. That’s your job. And it may become a thankless, full time job for awhile. So be it.

    Sorry for the soap boxing Elaine. It’s hard for me to express myself minimally when I read your informative posts. Your/our grievances are, of course, very real. But constructive anger can create positive change as we work our way out of these difficult times.

    Every little town has its’ own reason for existing socially and economically. Many will die out if the residents don’t find their common purpose. But many will grow and thrive by their own uniqueness and creativity. In a few years I will leave city life to retire in one of those. And I, like you, will welcome hippies and gays.

    Now back to reading your post…

  10. Dibbles

    “..Communist China which really, deep inside …hate the ruling elites of America and hope to execute them some day.”

    Why is this a problem?

  11. Dibbles

    “They [the big banks] fulfilled an important function in helping governments and corporates to transfer risk, particularly across borders,” Diamond added.”

    No shit Sherlock. Tag, you’re it Americans…

  12. RobG

    Nice blog today at Jesse’s: Memories of Bejing, Ten Years Past

    China is progressing fast in its re-engagement with gold. Wonderful. It is interesting that gold seems to be everywhere now at the China retail level, legally bought, kept, sold back, and all tax free, at transparent pricing, in alignment with gold reform that was two decades in planning, implementation, and rollout.

    Now that is market capitalism, which the US banking system is now sadly lacking. A free market is not dominated by opaque complexity, endless frauds and limited choices, with high rents extracted by government license, feeding on productive effort, placing toll booths across fundamentally simple transactions with a nightmarish private bureaucracy and regressive taxation. That is feudalism, or more recently, crony capitalism.

    Capitalism is about the creation and the adding of value, satisfying customer demands, thereby making them — happy. It is not the taking of inordinate fees through legalistic snares and artificial complexity, obstacles and contrivances, government sanctioned monopolies and corporate racketeering.

    The Banks and politicians no longer respond to the people, their customers, because they have merged their interests to the exclusion of all others, serving themselves, undermining the fundamental basis of social relationships and trust. The starting point of regulatory reform is no longer what the people need, but rather, what Wall Street requires. This is the same model as the US health care system. The corruption starts its financiers, but has its roots in Washington.

  13. Dibbles

    “invest in purported civil case settlement funds”

    to do what? Sneak into government buildings at night with white-out and replace the litigant’s name with
    Rothstein Rosenfeldt Adler
    P.O. Box 123
    Cayman Islands
    ?

    I’m creating an investment fund to market Dung Beetle Farts. I’m going to peddle it to Wall Street bonus bonanza recipients. This gas will magically multiply the wealth generated by one American tax-payer into thousands overnight. With the money I get, I’m going to re-market it to American tax-payers. Would you like to invest?

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    ELAINE: HAHAHA. I would do that with all the Madoff lawsuits! 🙂

  14. Paul S

    What is stranger still is how there is NEVER any talk of fiscal responsibility when Republicans are in the White House. Bush added $5 trillion to the national debt and not a peep out of most of the media. I realize that many readers here understand this already, but WHY is this such a difficult lesson for the average American? Why aren’t Republicans held to account for the messes thery make? Corporate owned media, yes, but why is it the average American NEVER makes the connection to our fiscal problems and Republican policies? I’m not defending Obama here, but the factual record shows it is Republicans who caused much of the debt: Reagan nearly tripled the debt, “Dubaya” added $5 trillion. I get this feeling that some people will be going off tho their low wage jobs, working for the Chinese, and they will STILL be shouting, “Mega Dittos, Rush!” I guess some people are going to deserve what they get.

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    ELAINE: I have been saying this all my life. Both Clinton and Carter balanced the budget or raised interest rates to stop inflation (via Volcker).

  15. Dibbles

    Rob G
    This article is smoke and mirrors bait and switch of blame. The rhetoric of transforming the fraud of Wall Street “free-market” into another government bashing, tax-hating screed shows the deception of this Randian religious follower.

    Taxes and government are not the cause of Capitalism’s failure. Deregulation, lack of transparency and accountability is. Taxes are necessary for the success of commerce and lawful governance. Only those can protect and promote real wealth generation, especially when capital is involved.

    This writer’s definition of Capitalism is laughable.

    Free Market means free from law. Free to romp from country to country without consequence. Non of those pesky legal jurisdictions. No consequence to unbridled wealth accumulation and secret off-shore stashes, or what the Rand cultists call government interference. This is not the form of capitalism that generated the wealth of the US. This is lawlessness. But successfully exploitable if you have dual-citizenship status and brainwash naive industrious people into ridding themselves of pesky government interference by playing on their dislike of paying taxes (which was not always the case).

    It also sounds like it’s promoting another gold bug bubble. Guess the gnomes are getting desperate.

  16. JSmith

    Apropos of nothing in particular… I found this article from a couple of weeks ago interesting:

    The doctor who sparked a worldwide [vaccination] panic was today found in breach of ethical and professional guidelines.

    ΩΩΩΩΩΩΩΩΩΩΩ

    ELAINE: I think some of the most dishonest people on earth are antivaccinationists.

  17. Colin

    Has Robert Reich started reading your blog? If you leap in to 32:00; expect a currency wars in the years ahead; forien countries won’t let the dollar drop and kill jobs in their countries, their having far too much fun killing american jobs.

    http://fora.tv/2010/01/22/Robert_Reich_Bank_of_America_Annual_Economic_Forecast

    ΩΩΩΩΩΩΩΩΩΩ

    ELAINE: The Chinese 50 Year Plan is to undercut our own industries here in the US, suck up all our factories and then cease doing business with us. The history of China shows clearly, they like being self sufficient.

  18. charlottemom

    fell out of my chair laughing after reading that Osama Bid Laden is blaming America for global warming. Or at least that’s what the latest tape says

    Bin Laden has mentioned climate change and global warming in past messages, but the latest tape was his first dedicated to the topic.

    The al-Qaida leader also targeted the U.S. economy in the recording, calling for a boycott of American products and an end to the dollar’s domination as a world currency.

    “We should stop dealings with the dollar and get rid of it as soon as possible,” he said. “I know that this has great consequences and grave ramifications, but it is the only means to liberate humanity from slavery and dependence on America.”

  19. if

    The US Might be Better Off with a Global Currency
    “…Floating rates, however, have one troubling flaw: having the USD the reserve currency means US domestic policy gets exported to the rest of the world. Off gold in ’71, we exported our inflation. Saved by Volcker in ’79, we drove too strong a currency. Worried about Japanese imports in ’86, we coordinated a devaluation of the Dollar in half (in a year!). What followed was the crash of ’87, the Japanese bubble of ’89, the S&L crisis, and the seeds of the Greenspan Put, which created the moral hazard that we now call the Greatest Asset Bubble of All Time in the 2000s. ”
    http://tinyurl.com/6yv3kz

  20. Sky

    Osama needed a makeover, charlottemom. ” I hate you for your freedom and democracy ” has been updated to – ” I hate you for your carbon” .

    Did Osama issue his latest decree from deep, deep, within the bowels of al Qaeda headquarters?

    Can everyone remember al Qaeda HQ? You should. It was all the vogue of the western MSM, way back when.

    Here’s a reminder ( From NBC’s Meet the Press – featuring Tim Russert and Rummy ).

    Russert:… This is a fortress. This is very much a complex, multi-tiered, bedrooms and offices on the top, as you can see, secret exits on the side and on the bottom, cut deep to avoid thermal detection so when our planes fly to try to determine if any human beings are in there, it’s built so deeply down and embedded in the mountain and the rock it’s hard to detect. And over here, valleys guarded, as you can see, by some Taliban soldiers. A ventilation system to allow people to breathe and to carry on. An arms and ammunition depot. And you can see here the exits leading into it and the entrances large enough to drive trucks and cars and even tanks. And it’s own hydroelectric power to help keep lights on, even computer systems and telephone systems. It’s a very sophisticated operation.

    Rumsfeld:

    Oh, you bet. This is serious business. And there’s not one of those. There are many of those. And they have been used very effectively. And I might add, Afghanistan is not the only country that has gone underground. Any number of countries have gone underground. The tunneling equipment that exists today is very powerful. It’s dual use. It’s available across the globe. And people have recognized the advantages of using underground protection for themselves.

    A few weeks after the “Meet the Press” interview, US special forces and their Afghan allies occupied Tora Bora. They painstakingly searched Gree Khil mountain and the surrounding area. They found no underground fortress, no hydro-electric power plant, no 2000-room hotel, no ant farm, no iron doors, no ventilating shafts.

    One picture is worth a thousand words. Here it is :

    http://www.edwardjayepstein.com/nether_fictoid3.htm

    So where is Osama’s secret mountain fortress ? It’s in the same place as the thousands of secret Muslim terror cells that were just waiting to explode in the USA .

  21. leavingtheoffice

    It turns out that Berlin, NY is not the only place in decline. Here is one of the more bizarre headlines I’ve ever seen…

    Holy Borat! California riskier than Kazakhstan?

    Has California reached a new low? The default risk on its bonds is now higher than that of Kazakhstan’s.

    http://articles.moneycentral.msn.com/Investing/top-stocks/blog.aspx?post=1551228

  22. emsnews

    Osama is like Loki or Coyote in old myths. He will play one game after another. And he is NOT a part of the CIA anymore, he is renegade. Hard to believe if one is suckered into those very stupid conspiracy sites. Osama, like myself, grew up within the CIA/US ruling elites and like myself, operates totally outside of it now.

    But then, juvenile attempts at figuring out complex matters can’t understand this concept that someone who is ‘inside’ a system can also operate, ON THEIR OWN, to attack this same system. Note that the most recent guy to do this was the son of a top African banking family. Same forces at work.

  23. Dibbles

    Sky,

    I think it was really Rummy’s week-end get-away condo. He flipped it to Osama telling the same story. Big O was pissed when he found out Rummy conned him.

    Now that the trading carbon scheme is dead Big O is really pissed. Underwater mortgage payments. No more Coke or McChicken for him.

  24. DM

    Why is this a problem?

    🙂 I don’t have a problem with that either.

    (Especially as I have to listen to the BBC running endless propaganda spiels exonerating Tony Blair).

  25. JT

    Bin Laden deplores climate change.
    http://english.aljazeera.net/news/middleeast/2010/01/20101277383676587.html

    Now I know where osama is ;).

    He´s running the IPCC.

  26. Harry Dingey

    I CAN CREATE 15 MILLION JOBS ALMOST OVER NIGHT right here in America !!!

    Here is my Job creation Computations:

    +++++++++++++++++++++++
    Total USA Imports in 2006:
    ——————-
    $ 2,211.7 billion —– Total Imports.
    $ 309.4 billion less — (minus spent on Imported Crude Oil)
    ————————
    $ 1,902.3 billion / 30 billion=63.41 million jobs lost from Imports.
    +++++++++++++++++++++++

    Total USA Exports in 2006:
    ————————
    $ 1,451.7 Billion / 30 billion=48.39 million jobs America gained from Exports

    If USA Pulls out of NAFTA and WTO right now:
    USA would absolutely gain a total of 63.41 million Jobs by Manufacturing all IMPORTS right here in the USA.

    So, 63.41 minus 48.39 = 15.02 million NET JOBS GAIN. But, a lot of Exports must be purchased in the USA. That would mean an even more jobs.

    My calculation means an ABSOLUTE 15.02 million Jobs gained if the rest of the world did not buy even one penny of USA EXPORTS.

    SO MOTE IT BE.

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